19) Some prominent market sharks are heard to be taking postions in pharma stocks such as sun pharma ,dr reddys ,gland pharma ,glenmark pharma ,marksans pharma ,wockhartd pharma,cadila healthcare ,cipla ,biocon and synegene to name the few ,they belive that pharma sector may give a rally of 50 to 80 percent in coming years as corona is not believed to end soon .

20) Note -markets are really looking expensive ,econoic growth on ground is weak ,pharma only seems to be safe heaven to hide now ,one must book profits specially in small and mid caps as early as possible ,whenever this rally ends one might find hard to exit small and mid cap stocks .

*Action Construction Equipment Ltd.* | *CMP* Rs. 169 | *M Cap* Rs. 1918 Cr | *52 W H/L* 178/45
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 457.4 Cr (14.2% QoQ, 49.7% YoY) vs QoQ Rs. 400.5 Cr, YoY Rs. 305.5 Cr
EBIDTA came at Rs. 49.7 Cr (10.1% QoQ, 82.5% YoY) vs QoQ Rs. 45.1 Cr, YoY Rs. 27.2 Cr
EBITDA Margin came at 10.9% vs QoQ 11.3%, YoY 8.9%
Adj. PAT came at Rs. 38.6 Cr vs QoQ Rs. 30.9 Cr, YoY Rs. 13.6 Cr
Quarter EPS is Rs. 3.4
Share is trading at P/E of 24x TTM EPS

*GMM Pfaudler Q4FY21 Concall Update*
(Nirmal Bang Securities)

*Outlook: Positive*

• Pfaudler was consolidated only for months of Feb & Mar. Including this the combined revenue fr the qtr was Rs. 471 Cr, EBITDA was Rs. 75.5 Cr with margin of 16.0% and PAT was Rs. 47.5 Cr with Quarter EPS of 32.5
• Co has stuck to its revenue target of Rs 2800 cr and EBITDA margin of 16% by FY24E.
• Standalone + Mavag EBITDA margins are like to sustain at 24%. During Q4FY21 EBITDA Margin came at 26.9% vs QoQ 20.8%, YoY 17.1%.
• Underlying tailwinds in domestic business remains intact for chemical and pharma clients.
• Acquisition of HDO Technologies: Topline of 400 cr is possible in long term from here with some capex.
• Although the management did not disclose the profit figure for Pfaudler for FY21, we expect the consolidated EPS for FY21/22/23 to be Rs. 94/119/145.

*Rationale for acquisition of Pfaudler*
1) Cross sell opportunities with respect to customers, products and distribution networks.
2) Access to strong R&D set up of Pfaudler Group for developing new products.
3) No restrictions anymore for GMM to tap export markets.
4) Some amount of manufacturing will be outsourced to the Indian unit to improve margins.

*FY21 metrics for Standalone +Mavag*
• Revenue came at Rs. 757 Cr (+28%)
• EBITDA came at Rs. 167 Cr (+22%) with margin at 18.8% vs 22.0% YoY
• PAT came at Rs. 105 Cr (+48%)
• Order book is at Rs. 557 Cr vs Rs. 382 Cr YoY.

*FY21 metrics for Pfaudler*
• Revenue came at Rs. 1374 Cr (+7%)
• EBITDA came at Rs. 121 Cr (+32%) with margin at 8.8% vs 7.2% YoY
• Order intake was flattish at Rs. 1488 Cr with order book at Rs. 927 Cr.
• Topline will grow in single digit. Focus will be to improve the margins.

Share is trading at P/E of 43x FY22 EPS

World Markets

Dow + 65
Nasdaq + 12
Dax + 113
Nikkei - 223
Hangseng - 152
Sgxnifty - 61 (15417)
Brent Crude 69
Dow Fut + 21
Dollar Index 90

Pledge Share Details

Adani Ports and Special Economic Zone: Promoter Group (Gautam Adani and Rajesh Adani) revoked pledge of 6 lakh shares on May 27.

Coffee Day Enterprises: Promoters (Malavika Hegde and Devadarshini Infotechnologies) invoked pledge of 14.58 lakh shares on May 11.

Stocks To Watch

HDFC Bank: The Reserve Bank of India has levied a fine of Rs 10 crore on HDFC Bank for irregularities in the bank’s auto loan portfolio. RBI had received a whistleblower complaint regarding these irregularities. After reviewing the documents in the matter of marketing and sale of third-party non-financial products in HDFC Bank’s auto loan division, the regulator found the bank had
breached provisions of the Banking Regulation Act.

Mahindra & Mahindra: To spend Rs 12,000 crore in the next three years to launch new products across commercial and passenger vehicle segment, said CFO Manoj Bhat. The company will deploy Rs 9,000 crore in the auto sector that includes investment in EVs till FY24. To spend Rs 3000 crore in the farm sector. In addition, M&M will spend Rs 5,000 crore for investments in group companies. Further, the company will launch 23 new products across the passenger and commercial vehicle segment by 2026.

Manappuram Finance: Board of Directors may consider issuances of debt securities in June. The company is considering various options for raising funds through borrowings including by the way of issuance of various debt securities in onshore and offshore securities market by Public Issue, on Private Placement Basis or through issuing Commercial Paper.

Solar Industries India: Appointed Moneesh Agrawal, Senior General Manager, Accounts and Shalinee Mandhana, General Manager, Finance as Joint Chief Financial Officers effective May 27.

Earnings: Aurobindo Pharma, Jamna Auto, Kolte Patil, Narayana Hrudyalaya, Shilpa Medicare, Honeywell Automation

*Bulk deals*

*Archies:* Porinju Veliyath-owned Equity Intelligence India sold 9.5 lakh equity shares in Archies at Rs 15.81 per share on the NSE, the bulk deals data showed.

*Mcleod Russel India:* Investor Manju Gaggar sold 7,74,724 equity shares in Mcleod Russel at Rs 31.15 per share on the NSE, the bulk deals data showed.

*Paisalo Digital:* State Bank of India bought 4,37,498 equity shares in Paisalo Digital at Rs 570 per share on the NSE, the bulk deals data showed.

*Stocks in News*

*Bank of Baroda:* The bank posted loss of Rs 1,046.5 crore in Q4FY21 against profit of Rs 506.59 crore in Q4FY20. Net interest income rose Rs 7,106.62 crore from Rs 6,798.18 crore YoY.

*Divi's Laboratories:* Consolidated profit increased to Rs 502.02 crore in Q4FY21, from Rs 388.23 crore in Q4FY20. Consolidated revenue jumped to Rs 1,788.19 crore, from Rs 1,389.71 crore YoY.

*Dollar Industries:* The company reported higher consolidated profit at Rs 19.35 crore in Q4FY21 against Rs 12.18 crore in Q4FY20; revenue rose to Rs 308.31 crore from Rs 237.29 crore YoY.

*Fortis Healthcare:* The company reported consolidated profit at Rs 62.36 crore in Q4FY21 against loss of Rs 41.24 crore in Q4FY20; revenue rose to Rs 1,252.44 crore from Rs 1,112.92 crore YoY.

*Himatsingka Seide:* The company reported consolidated profit at Rs 37.57 crore in Q4FY21 against loss of Rs 68.84 crore in Q4FY20; revenue jumped to Rs 746.04 crore from Rs 434.6 crore YoY.

*Affle (India):* The company reported consolidated profit at Rs 58.6 crore in Q4FY21 against Rs 15.29 crore in Q4FY20; revenue jumped to Rs 141.57 crore from Rs 80 crore YoY.

*Reliance Infrastructure Ltd.* | *CMP* Rs. 65 | *M Cap* Rs. 1704 Cr | *52 W H/L* 64.8/15
(Nirmal Bang Retail Research)
*Result continue to remain weak*
Revenue from Operations came at Rs. 4178.9 Cr (9.1% QoQ, 15.3% YoY) vs QoQ Rs. 3831.7 Cr, YoY Rs. 3625.9 Cr
EBIDTA came at Rs. -34.8 Cr (95.3% QoQ, -87.1% YoY) vs QoQ Rs. -17.8 Cr, YoY Rs. -270.4 Cr
EBITDA Margin came at -0.8% vs QoQ -0.5%, YoY -7.5%
Adj. PAT came at Rs. -77.4 Cr vs QoQ Rs. -15.4 Cr, YoY Rs. -27.8 Cr
Quarter EPS is Rs. -2.9
Share is trading at P/E of -2.6x TTM EPS

*Gulf Oil Lubricants India Ltd.* | *CMP* Rs. 711 | *M Cap* Rs. 3576 Cr | *52 W H/L* 846/564
(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 517.4 Cr (7.4% QoQ, 43.9% YoY) vs QoQ Rs. 481.9 Cr, YoY Rs. 359.7 Cr
EBIDTA came at Rs. 78.1 Cr (-6.3% QoQ, 41% YoY) vs QoQ Rs. 83.4 Cr, YoY Rs. 55.4 Cr
EBITDA Margin came at 15.1% vs QoQ 17.3%, YoY 15.4%
Adj. PAT came at Rs. 59.8 Cr vs QoQ Rs. 64 Cr, YoY Rs. 35.9 Cr
Quarter EPS is Rs. 11.9
Share is trading at P/E of 16.5x FY22E EPS

GM jsk stock in news ncc, Glenmark,Bob,sbi,pnb,cipla, alembic ph,ambalal,morepenlab, phoenix,rupa n co,cub, Ingersoll, dilipbuild, spicejet,indigo, jubiliant pharma,divis. Negative stocks ghcl,aartisufac,ambikacotton,indianbk. Nifty range 14325-14550.

*Global-Market Insight*
-Important and busy week for the global markets
-Asian markets may trade subdued
-Gold has breached $1900 and Crude inching towards $70
-The US markets closed today on a Memorial Day
-US May job data, PMI & inflation numbers
-OPEC+ meeting on oil production
-FED's beige book on the economy on Wednesday
-India's GDP today & monetary policy on Friday

*Bank of Baroda Review*
*JP Morgan:* 4Q (loss Rs 10bn) impacted by write-down of DTA on a shift to new tax regime
Adjusting for same, PAT would have been Rs 22.3bn (F21 Rs 41.4Bn)
Asset quality +ve with pro forma 4Q slippage at Rs 30bn
*OW, TP Rs 110*

*Bank of Baroda Review*
*CS:* Growth continues to lag, asset quality stress broadly contained
Post recent capital raise, CET up to 11% & allows pick-up in growth, but given stress in SMEs & uncertainty on 2nd wave, expect elevated credit costs in FY22 & RoE to remain low
*TP Rs 75*

*Divis Labs Review *
*Jefferies:* Revenue 7% above est,
EBITDA though impacted by Covid incentive payments of Rs 34 cr
Co's has operationalized capex worth INR1.8bn of total 2.5bn incurred since 2018
*Buy, TP raised to Rs 4732*


*Divis Labs Review*
*GS:* 4Q beat
Multiple drivers to support biz in FY22
Market share gains on molecules like carbidopa, levodopa, valsartan, mesalamine, pregabalin
Additional supply opportunity for molnuparivir API
2x capacity in Nutraceuticals
*Buy, TP Rs 4530*

*Week Ahead*
-India to release GDP figures (Monday)
-RBI monetary policy on June 4th
-US jobs report and worldwide manufacturing and services PMIs
-US stock markets will be closed on Monday for the Memorial Day holiday

Engineers India (ENGI) is at ₹84.25 (-2.60%)

http://in.investing.com/equities/engineers-india?utm_source=investing_app&utm_medium=share_link&utm_campaign=share_instrument

*Good Morning*
• India Extends $41 Billion Loan-Guarantee Offer to Airlines
o Govt extends emergency credit program until Sept. 30
• India to Borrow $22 Billion More to Pay States, Minister Says
• India to Provide Aid, Education to Children Orphaned by Covid
• Bank of Baroda Plans to Raise $690 Million After Unexpected Loss
• HDFC Bank Penalized for Violating Rules in Auto-Loan Portfolio
• Underwriters Rescue Bond Auction as RBI Tries to Check Yields
• Microfinance Loan Collections Fall 10-20% in April, May: Sa-Dhan
• India Farmers Boost Planting of Summer Rice, Pulses and Oilseeds
• India Monsoon Onset Over Kerala Likely Around June 3, IMD Says
• India Forex Reserves Rise $2.9b to $592.9b in Week to May 21
o India Official Reserves Rise to Record in May
• India’s Sensex Index Clocks Biggest Two-Week Gain Since February
• Traders Grapple With Grief While India’s Markets Keep Rising
• Global Funds Buy Net INR9.14B of India Stocks on May 28: NSE
o Domestic funds buy net 12.75b rupees of stocks
• Foreign Investors Buy Net INR446M of Indian Equities on May 27
• PM Modi Says India fighting Covid with all its might: PTI
• HC to rule on Monday on plea to stop Central Vista work during Covid: PTI
• 4pm: India Fiscal Deficit for April-March Period, prior 171,543
• 5:30pm: April Eight Infrastructure Industries, prior 6.8%
• 5:30pm: India GDP for Qtr ended March; est. 0.9% (prior 0.4%)
• 5:30pm: India GDP Annual FY21 Estimate YoY; est. -7.5% (prior -8.0%)
• 5:30pm: India GVA for Qtr ended March; est. 2.5% (prior 1.0%)
• Aditya Birla Fashion (ABFRL): 4Q net loss 1.3b rupees, est. loss 356.4m; revenue -2.2% y/y to 17.8b rupees
• Advanced Enzyme (ADVENZY): 4Q net income 316.8m rupees vs 313.3m y/y
• Affle India (AFFLE): 4Q profit 585.1m rupees vs 152.9m y/y; revenue 1.42b
• Bank of Baroda (BOB): 4Q net loss 10.5b rupees vs. profit 5.1b y/y; Gross NPA 8.87% vs. 8.48% q/q
• Bhagyanagar India (BHIL): 4Q profit 6.7m rupees vs loss 13.6m y/y
• Cadila Healthcare (CDH): Says Zydus Cadila gets U.S. FDA approval for Fluphenazine Hydrochloride tablets
• City Union Bank (CUBK): 4Q profit 1.11b rupees vs. loss 952.9m y/y, est. 1.28b, Provisions 2.38b; Gross NPA 5.11% vs. 2.94% q/q
• Dhanlaxmi Bank (DHLBK): 4Q profit 52.8m rupees vs. 26m y/y; Gross NPA 9.23% vs. 5.78% q/q
• Dilip Buildcon (DBL): 4Q net income +10% y/y to 1.27b rupees, est. 1.25b; revenue +17% to 29.2b
• Divi’s Laboratories (DIVI): 4Q profit 5.02b rupees vs. 3.88b y/y, beats est. 4.7b
• Glenmark Pharma (GNP): 4Q net income +6.4% y/y to 2.34b rupees, est. 2.39b; revenue +3.2% to 28.6b
• HeidelbergCement India (HEIM): 4Q net income 1.4b rupees vs. 662.9m y/y; revenue +18% to 6b vs est. 6.28b; Div/shr 8 rupees
• Himatsingka Seide (HSS): 4Q profit 375.7m rupees vs loss 688.4m y/y
• Indian Bank (INBK): 4Q net income 17.1b rupees Vs. loss 2.18b Y/y, provisions -24% q/q to 17.5b; Gross NPA 9.85% vs. 9.04% q/q
• Indian Overseas Bank (IOB): Says board to consider shares issue to govt on or after June 2
• Kaveri Seed (KSCL): 4Q net loss 173.6m rupees vs. profit 75.7m y/y
• KEI Industries (KEII): 4Q profit gain to 893m rupees vs. 620m y/y
• Kotak Mahindra Bank (KMB): Approves plan to raise up to 50b rupees via debt including sale of NCDs & bonds
• Neogen Chemicals (NEOGEN): 4Q profit gain to 93.2m rupees vs. 73m y/y
• Punjab National Bank (PNB): To sell Canara HSBC OBC Life insurance stake at appropriate time
• REC Ltd. (RECL): 4Q net income 20.7b rupees, revenue +19% y/y to 91.5b
• Sheela Foam (SFL): 4Q profit 581.4m rupees vs. 317m y/y, sales gain to 7.33b vs. 5.04b y/y
• SpiceJet (SJET): SEBI disposes of adjudication proceedings against Enam in matter of SpiceJet
• Sundaram Finance (SUF): 4Q net income 2.09b rupees Vs. 1.31b Y/y
• Suprajit Engineering (SEL): 4Q profit 575.1m rupees vs 29.7m y/y
• Unichem Laboratories (UL): 4Q net loss 4.08m rupees vs. loss 171.8m y/y
• V-Mart Retail (VMART): 4Q net loss 14.7m rupees, est. loss 78.0m; revenue +5.7% y/y to 3.52b

*SGX Nifty -45 pts (15433) from last trade 15478*

Nikkei -151 pts,
Hangseng +101 pts,
Now @6.58am.

Dow +64.81 pts ,Nsdq +12.46 pts, S&P +3.23 pts, Bovespa +1194 pts , Ftse +2 pts , Dax +113 pts , Cac +48 pts , Crude @ $67.37 brl (+0.52), Brent @ $69.46 brl (-0.00) , Gold @ 1896.90 (+1.20), Silver @ $27.97 (+0.03), Euro @ $1.2189, JPY @ $109.83,  INR @ 72.685

*Today's Corporate Action*
*31st May Ex Date*
HDFC
Dividend - Rs. - 23.0000

INFY
Final Dividend - Rs. - 15.0000

*Today's Key Results/Board Meetings*
*31-May-21*
ABHICAP
General; Audited Results

ACEMEN
Audited Results

ADSL
General; Quarterly Results; Audited Results

APARINDS
Dividend; Quarterly Results; Audited Results

APMIN
Audited Results

ARCHITORG
Preferential Issue of shares

ASIANTILES
Audited Results;
Final Dividend

ASTRON
General; Audited Results

AUROPHARMA
Audited Results

BASML
Audited Results;
Final Dividend

BLUECOAST
Quarterly Results

CHAMANSEQ
Audited Results;
Final Dividend

CHEMCON
General; Audited Results; Quarterly Results

CUPIDTR
General

DEVHARI
Audited Results

DUGARHOU
Reduction of Capital

FLOMIC
Audited Results

GALLOPENT
Dividend;
Quarterly Results

GANESHHOUC
Audited Results

HIGHENE
A.G.M.; Audited Results; Final Dividend

HONAUT
Audited Results;
Final Dividend

HYPERSOFT
Audited Results

INANISEC
Quarterly Results

INDXTRA
Audited Results

INERTIAST
Audited Results

INGERRAND
Audited Results; Dividend

INRADIA
Audited Results

INSILCO
Audited Results

ISHANCH
General; Audited Results

JAMNAAUTO
Audited Results;
Final Dividend

JBFIND
Quarterly Results

JINDALPHOT
Audited Results

KAPILRAJ
Increase in Authorised Capital; Issue Of Warrants

KARDA
General;Stock  Split; Quarterly Results; Audited Results;
Final Dividend

KBSINDIA
Quarterly Results;
Audited Results

KEDIACN
General

KHYATI
Audited Results

KKALPANAIND
Quarterly Results; A.G.M.; Audited Results; Final Dividend

KOLTEPATIL
General; Audited Results

LASA
Audited Results

LLOYDSTEEL
General; Quarterly Results; Audited Results

MAANALU
Audited Results

MAFATLAFIN
Audited Results

MAGMA
Dividend; Audited Results

MANINDS
Audited Results;
Final Dividend

MANOMAY
Audited Results

MARKSANS
Audited Results;
Final Dividend

MHLXMIRU
Audited Results

MODISNME
Audited Results

MORGANITE
General; Audited Results; Final Dividend

NAHARCAP
Dividend; Audited Results

NAHARINDUS
Audited Results

NAHARPOLY
Dividend; Audited Results

NAHARSPING
Audited Results; Dividend

NATCAPSUQ
Increase in Authorised Capital; Right Issue of
Equity Shares; Audited Results; Final Dividend

NELCAST
Dividend; Audited Results

NH
Preferential Issue of shares; Audited Results

NIHARINF
General; Quarterly Results; A.G.M.;
Audited Results

PANAMAPET
Audited Results;
Final Dividend

PANCHMAHQ
Audited Results

PATIDAR
Audited Results

PCS
Audited Results

PNBHOUSING
General

PRAKASH
Audited Results

PRSNTIN
Quarterly Results;
Audited Results

RIDDHI
Dividend;
Quarterly Results

RTL
Audited Results; Quarterly Results;
Final Dividend

RUPA
Dividend; Audited Results

SHHARICH
Dividend; Quarterly Results; Audited Results

SHILPAMED
Quarterly Results; Audited Results

SHRIDINE
General; Quarterly Results; Audited Results; Final Dividend

SIMPLXREA
Consolidation of Shares; Audited Results

SKIFL
Audited Results

SNL
Audited Results;
Final Dividend

STELLANT
Quarterly Results;
Audited Results

SUDTIND-B
General

TFCILT
Dividend; Audited Results

TIL
Audited Results

TRF
General; Quarterly Results; Audited Results

UNICK
General; Audited Results; Quarterly Results

URJAGLOBA
Audited Results

UTTAMSTL
Audited Results

VASCONEQ
General; Audited Results

VENUSREM
Preferential Issue of shares; Audited Results

WEBELSOLAR
Audited Results

WIREFABR
Audited Results; Dividend

XCHANGING
Audited Results

ZNIVITRD
Audited Results

*Stock under F&O ban on NSE*
*31-May-21*
Sun Tv

*Economic Times*
*Business Standard*
Ø  RBI's new norms to help enhance audit quality, transparency, add value: Experts
Ø  Paytm board grants in-principle approval for around Rs 22,000 crore IPO
Ø  FDI in computer software, hardware jumps threefold to $26.14 billion in 2020-21: DPIIT data
Ø  DoT to ask telcos to test 5G in rural areas also, MTNL may join trial soon
Ø  India set to expand negative list for defence imports
Ø  Govt expands credit lifeline for MSMEs amid second wave of Covid-19
Ø  Saudi Arabia committed to meet India's crude oil requirement: Saudi envoy
Ø  Govt considers enhancing Rs 3 trn loan-guarantee for small firms: Report
Ø  Covid-19: Govt announces additional benefits under EPFO, ESIC schemes
Ø  Record company registrations in April; Maha, Delhi, UP lead charge

*Business Line*
*Mint*
Ø  Adani Ports and SEZ looks to acquire Karaikal Port
Ø  Verteil Technologies closes Pre-Series A funding round
Ø  Emergency credit scheme to now cover civil aviation, oxygen plants
Ø  PSBs to follow templated approach to restructure loans
Ø  PNB to exit Canara HSBC Oriental Bank Life
Ø  Dhanlaxmi Bank posts ₹5.28 crore net profit in Q4
Ø  Infra.Market acquires majority stake in Sociam Equipment
Ø  Bank of Baroda plans to raise ₹5,000 crore after unexpected loss
Ø  India, Philippines eyeing technology and investment exchanges in fisheries
Ø  PUBG Mobile's Indian avatar Battlegrounds Mobile India reveals glimpse of game
Ø  FPIs net sellers for second consecutive month; pull out ₹1,730 crore in May

*Financial Express*
*Business  World*
Ø  Coal India retains production and offtake momentum in May
Ø  Interest payments: Centre’s soaring debt may curb productive spending
Ø  Govt Extends Emergency Credit Line Guarantee Scheme Till Sep 30
Ø  REC Records Profit At Rs. 8,362 Crores