*Canara Bank Ltd.* | *CMP* Rs. 86 | *M Cap* Rs. 12442 Cr | *52 W H/L* 234/74
(Nirmal Bang Retail Research)
*Result is above expectations*
Net Interest Income came at Rs. 6297 Cr vs expectation of Rs. 5719 Cr, YoY Rs. 3130 Cr, QoQ Rs. 6096 Cr
Non Interest Income came at Rs. 3155 Cr vs YoY Rs. 2070 Cr, QoQ Rs. 2650 Cr
PBP came at Rs. 4640 Cr vs expectation of Rs. 3865 Cr, YoY Rs. 2545 Cr, QoQ Rs. 4285 Cr
Provisions came at Rs. 4017 Cr, YoY Rs. 2038 Cr, QoQ Rs. 3826 Cr
Adj. PAT came at Rs. 444 Cr vs expectation of Rs. 32 Cr, YoY Rs. 365 Cr, QoQ Rs. 406 Cr
Gross NPA came at Rs. 53438 Cr vs QoQ Rs. 57526 Cr at 8.23% vs QoQ 8.84%
Net NPA came at Rs. 21063 Cr vs QoQ Rs. 24355 Cr at 3.42% vs QoQ 3.95%
Slippages came at Rs. 415 Cr vs QoQ Rs. 1675 Cr at 0.27% vs QoQ 1.03%
Share is trading at P/E of 12x FY22E EPS & 0x trailing P/Adj. BV

# Collection efficiency details are awaited https://t.me/marketswizard

https://t.me/BooksMakeIndiaRead

*Astec Lifesciences Ltd.* | *CMP* Rs. 1090 | *M Cap* Rs. 2136 Cr | *52 W H/L* 1367/306
(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 155 Cr (38.5% QoQ, 10.5% YoY) vs QoQ Rs. 111.9 Cr, YoY Rs. 140.2 Cr
EBIDTA came at Rs. 29.5 Cr (4.3% QoQ, 93.3% YoY) vs QoQ Rs. 28.3 Cr, YoY Rs. 15.3 Cr
EBITDA Margin came at 19% vs QoQ 25.3%, YoY 10.9%
Adj. PAT came at Rs. 17.9 Cr vs QoQ Rs. 16.2 Cr, YoY Rs. 5.3 Cr
Quarter EPS is Rs. 9.1
Share is trading at P/E of 24.4x FY22E EPS https://t.me/marketswizard

https://t.me/BooksMakeIndiaRead

*Saint-Gobain Sekurit India Ltd.* | *CMP* Rs. 57 | *M Cap* Rs. 519 Cr | *52 W H/L* 76/26
(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 24.9 Cr (261.9% QoQ, -30% YoY) vs QoQ Rs. 6.9 Cr, YoY Rs. 35.5 Cr
EBIDTA came at Rs. 3.4 Cr (-177% QoQ, -25.4% YoY) vs QoQ Rs. -4.4 Cr, YoY Rs. 4.6 Cr
EBITDA Margin came at 13.7% vs QoQ -64.4%, YoY 12.9%
Adj. PAT came at Rs. 2.1 Cr vs QoQ Rs. -2.5 Cr, YoY Rs. 3.5 Cr
Quarter EPS is Rs. 0.2
Share is trading at P/E of 71.5x TTM EPS https://t.me/marketswizard

https://t.me/BooksMakeIndiaRead

*Strides Pharma Ltd – Q2FY21 Concall Update – Nirmal Bang Sec.*
*Outlook – Positive for near term*

_The stock is trading at 15.7x FY22E consensus earnings_

• Challenges during the quarter
o Softness during the quarter in frontends of US, UK and other parts of Europe
o Disruptions in manufacturing activity led to • Inventory depletion on few SKU’s at frontends and stock outs for certain products, mainly in the US • Lower order fulfilment predominantly in other regulated markets including supplies to Australia
o Manufacturing impacted in India due to employees getting covid positive (400 out of total 3000 manufacturing employees)
o Delay in some new product launches
• Outlook for 2HFY21
o However, the company is coming back to normalcy. Order books are full and expect strong rebound in H2FY21.
o The company is focusing on inventory replenishment to historical levels
o R&D filing momentum to pick up in H2 - Expect 8+ ANDA filings in the US and Other regulated markets to file 10+ products
• US
o 8% qoq - $54 mn
o Front end – 25% qoq – 85% of total US revenues
o Witnessed price erosion for the first time in select products due to COVID related challenges, market share gains on key products helped mitigate the same
o However, US – on track of guidance ($230-240mn for FY21, though on lower end) as market share for key base products continues to be steady, new launches gaining traction. *Hence expect strong rebound in 2H*
• Other Reg. Mkts
o $32 mn – 7% yoy growth
o Supplies to Arrotex in Australia were impacted during the quarter, expect bounce-back in H2FY21
o Strong order book visibility continues across key markets to drive future growth
o filed 8 new products and received 9 approvals in H1FY21
o Expect to file 10+ products in H2FY21
• Emerging markets
o Africa business grew 21% QoQ, continuing its growth momentum with healthy primary and secondary sales.
o While H1 FY21 has seen a strong comeback for Africa business, witnessing softness in certain therapeutic segments due to lower prescription rates in key markets
o Steady performance in the institutional business, *TLD to start contributing in H2FY21*
o TLD opportunity – WHO ($200-300mn mkt size) – approvals to come between Nov and Dec; in addition, looking to file for PEPFAR (additional $200-300mn) https://t.me/marketswizard

https://t.me/BooksMakeIndiaRead

*PTC India Financial Services Ltd. -S* | *CMP* Rs. 19 | *M Cap* Rs. 1217 Cr | *52 W H/L* 21/7
(Nirmal Bang Retail Research)
*Result has declined*
NII came at Rs. 95.4 Cr vs YoY Rs. 100.6 Cr, QoQ Rs. 84.6 Cr
PBP came at Rs. 89.5 Cr vs YoY Rs. 104.2 Cr, QoQ Rs. 83.2 Cr
Provision came at Rs. 41.1 Cr vs YoY Rs. 36.1 Cr, QoQ Rs. 40.6 Cr
Adj. PAT came at Rs. 31.9 Cr vs YoY Rs. 44.2 Cr, QoQ Rs. 26.6 Cr
O/s Loan Book came at Rs. 10483 Cr vs YoY Rs. 12098 Cr, QoQ Rs. 10369 Cr
Quarter EPS is Rs. 0.5
Share is trading at 0.6x trailing P/BV

# Collection efficiency details are awaited https://t.me/marketswizard

https://t.me/BooksMakeIndiaRead

*Shriram Transport Finance Ltd. -S* | *CMP* Rs. 699 | *M Cap* Rs. 17689 Cr | *52 W H/L* 1332/429
(Nirmal Bang Retail Research)
*Result is above expectations*
NII came at Rs. 2085 Cr vs expectation of Rs. 1879 Cr, YoY Rs. 2104 Cr, QoQ Rs. 1874 Cr
PBP came at Rs. 1576 Cr vs expectation of Rs. 1491 Cr, YoY Rs. 1588 Cr, QoQ Rs. 1495 Cr
Provision came at Rs. 655 Cr vs expectation of Rs. 966 Cr, YoY Rs. 661 Cr, QoQ Rs. 1065 Cr
Co created covid provisions o Rs. 416 Cr during the qtr taking the cumulative covid provision to Rs. 2282 Cr (2.0% of AUM)
PAT came at Rs. 685 Cr vs expectation of Rs. 450 Cr, YoY Rs. 765 Cr, QoQ Rs. 320 Cr
Quarter EPS is Rs. 27.1
Share is trading at P/E of 6.2x FY22E EPS & 0.9x trailing P/BV

# Collection efficiency data is awaited https://t.me/marketswizard

https://t.me/BooksMakeIndiaRead

*Welspun Corp Ltd.* | *CMP* Rs. 113 | *M Cap* Rs. 2948 Cr | *52 W H/L* 234/55
(Nirmal Bang Retail Research)
*Result Declined*
Revenue from Operations came at Rs. 1157.7 Cr (-44.1% QoQ, -48.8% YoY) vs QoQ Rs. 2069.3 Cr, YoY Rs. 2263 Cr
pipe sales volume up by 12% qoq to 249kmt
EBIDTA came at Rs. 170.8 Cr (-5.5% QoQ, -41.5% YoY) vs QoQ Rs. 180.6 Cr, YoY Rs. 291.7 Cr
EBITDA Margin came at 14.8% vs QoQ 8.7%, YoY 12.9%
Adj. PAT came at Rs. 156.8 Cr vs QoQ Rs. 51.9 Cr, YoY Rs. 155.6 Cr
Quarter EPS is Rs. 6
Share is trading at P/E of 6.3x FY22E EPS
Net Cash stands at Rs. 655crvs. 198 cr in June 20 https://t.me/marketswizard

https://t.me/BooksMakeIndiaRead

*Shriram Transport:* Collection efficiency for September was at 95%. Co expects around 3% of customers to opt for restructuring. *Positive* https://t.me/marketswizard

https://t.me/BooksMakeIndiaRead

*Orient Cement Ltd.* | *CMP* Rs. 66 | *M Cap* Rs. 1357 Cr | *52 W H/L* 90/35
(Nirmal Bang Retail Research)
*Result marginally ahead of expectation*
Revenue from Operations came at Rs. 477.5 Cr (16.4% QoQ, -7.3% YoY) vs expectation of Rs. 507.4 Cr, QoQ Rs. 410.4 Cr, YoY Rs. 515 Cr
EBIDTA came at Rs. 113.2 Cr (15.3% QoQ, 111.1% YoY) vs expectation of Rs. 100.1 Cr, QoQ Rs. 98.2 Cr, YoY Rs. 53.6 Cr
EBITDA Margin came at 23.7% vs expectation of 19.7%, QoQ 23.9%, YoY 10.4%
Adj. PAT came at Rs. 34.8 Cr vs expectation of Rs. 28.3 Cr, QoQ Rs. 25.6 Cr, YoY Rs. -7.7 Cr
Quarter EPS is Rs. 1.7
Share is trading at P/E of 10.3x FY22E EPS

https://t.me/marketswizard
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*Q2FY20 Welspun corp Key takeways:*
*Outlook-Neutral*
Dispatch from US plant in Q2 was very low at around 6000-7000T Company had an order booking at the start of Q2 at 94000T and at the end of Q2 it has reached to 130000T. The production for dispatch of this order is on and will partially be done in Q3 than in Q4 and Q1FY21.
Dispatch from India in Q2 was around 145000T vs QoQ 1380000T and EBITDA / T in standalone operation is improved to 11800/T vs QoQ 7500 /T on account of product mix. High EBITDA / T looks unsustainable. The order book in India is 402000t which will be executed in H2
Dispatch from Saudi (JV) has improved to 98000T in Q2 vs 41000T in Q1 and EBITDA/T came at $255/T vs QoQ 293/T . Saudi (JV) has order book of 148000T which will be executed in H2 FY21
• The exports during the quarter has been relatively slow, welspun corp has been able to secure export order In new market ( Australia)
• The total order book stands at 701kt valued at Rs 6100cr, out of this the order book from India stands at 402KT, 130KT is US.
• Welspun corp has proposed the listing of Saudi JV, This will involve divestment of 30% of stake, this divestment is expected to bring liquidity to welspun corp, the proceeds will first be utilise to repay Mauritius liabilities which stands at $27-28mn. Remaining will be evaluated to pay dividend.
• The company is foraying into DI pipe segment-the investment for the project is Rs 1250cr ( spread across 18months), the set up will include steel making facility of 400kmpta and DI plant of 250kmpta. This project is expected to get commission in the next 18months. The project will be funded 70% from internal accruals and 30% debt. The project has an asset turnover of 1.1, ROCE of 18%.
• Out of the total gross debt of Rs 335cr, Rs 150cr belongs to India and Rs 185cr is US
• Out of the total Cash of Rs 990cr, Rs 880cr is from India and balance is US
• Bhopal project status- the company has relocated one more spiral mill from Anjar to Bhopal, this will commence operations by mid November 2020.

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*Zensar Technologies Ltd.* | *CMP* Rs. 187 | *M Cap* Rs. 4215 Cr | *52 W H/L* 223/64
(Nirmal Bang Retail Research)
Dollar revenue came at $ 131.6 mn vs expectation of $ 131.5 mn, QoQ $ 130.8 mn, YoY $ 152.3 mn
*Result is marginally ahead of expectations*
Revenue from Operations came at Rs. 979.5 Cr (-1.2% QoQ, -8.7% YoY) vs expectation of Rs. 981.1 Cr, QoQ Rs. 991.2 Cr, YoY Rs. 1072.3 Cr
EBIDTA came at Rs. 184.2 Cr (28.8% QoQ, 22.8% YoY) vs expectation of Rs. 140.8 Cr, QoQ Rs. 143 Cr, YoY Rs. 150 Cr
EBITDA Margin came at 18.8% vs expectation of 14.4%, QoQ 14.4%, YoY 14%
Adj. PAT came at Rs. 89.2 Cr vs expectation of Rs. 74.1 Cr, QoQ Rs. 73.3 Cr, YoY Rs. 79.9 Cr
Quarter EPS is Rs. 4
Share is trading at P/E of 12.6x FY22E EPS

https://t.me/marketswizard
https://t.me/BooksMakeIndiaRead

*Security And Intelligence Services India Ltd.* | *CMP* Rs. 353 | *M Cap* Rs. 5182 Cr | *52 W H/L* 624/314
(Nirmal Bang Retail Research)
*Result is in-line with expectations*
Revenue from Operations came at Rs. 2157.9 Cr (-0.4% QoQ, 3.3% YoY) vs expectation of Rs. 2149.6 Cr, QoQ Rs. 2166.7 Cr, YoY Rs. 2088.9 Cr
EBIDTA came at Rs. 129.7 Cr (7.3% QoQ, 4.9% YoY) vs expectation of Rs. 120.4 Cr, QoQ Rs. 120.9 Cr, YoY Rs. 123.7 Cr
EBITDA Margin came at 6% vs expectation of 5.6%, QoQ 5.6%, YoY 5.9%
Adj. PAT came at Rs. 108.1 Cr vs expectation of Rs. 56.8 Cr, QoQ Rs. 57.9 Cr, YoY Rs. 76.2 Cr
higher other income led to higher PAt
Quarter EPS is Rs. 7.4
Share is trading at P/E of 18.1x FY22E EPS

https://t.me/marketswizard
https://t.me/BooksMakeIndiaRead

*Vodafone Idea Ltd.* | *CMP* Rs. 8 | *M Cap* Rs. 22988 Cr | *52 W H/L* 14/2
(Nirmal Bang Retail Research)
ARPU came at Rs 119vs expectation of Rs 118 , QoQ Rs 114 , YoY Rs 107
*Result is in-line with expectations*
Revenue from Operations came at Rs. 10791.2 Cr (1.2% QoQ, -0.5% YoY) vs expectation of Rs. 10892.8 Cr, QoQ Rs. 10659.3 Cr, YoY Rs. 10844 Cr
EBIDTA came at Rs. 4152.4 Cr (1.3% QoQ, 24.1% YoY) vs expectation of Rs. 3911.5 Cr, QoQ Rs. 4098.4 Cr, YoY Rs. 3347.1 Cr
EBITDA Margin came at 38.5% vs expectation of 35.9%, QoQ 38.4%, YoY 30.9%
Adj. PAT came at Rs. -6451.1 Cr vs expectation of Rs. -5198.3 Cr, QoQ Rs. -5536.8 Cr, YoY Rs. -20147.4 Cr
Quarter EPS is Rs. -2.2
Share is trading at 8.5x EV/EBITDA of Q2 annualised EBITDA

https://t.me/marketswizard
https://t.me/BooksMakeIndiaRead

*Shuboudhaya🙏*
*Today's top news: 30 Oct*

1. *Happy Eid Milad-Un-Nabi* 💐☪️
The day is celebrated during the third month of the Islamic calendar. The day is also called Mawlid or Mawlid-al-Nabi al-Sharif.

The celebrations for Eid Milad Un Nabi have already started in Saudi Arabia, but in India, Pakistan, Bangladesh, Sri Lanka and other parts it will be celebrated on Friday

2. *Assam's JEE Main 2020 Topper Neel Nakshatra Das, his father, Dr Jyotirmoy Das, and three employees of a testing facility for allegedly using a proxy* to write the country's premier engineering entrance test, the Guwahati Police said. The accused had scored 99.8 percent in the exam, which is the basis for admission in India's top engineering colleges, including the prestigious IITs.

3. *National Unity Day or Rashtriya Ekta Diwas is celebrated to mark the birth anniversary of Sardar Vallabhbhai Patel on October 31 every year since 2014* . Popularly known as the “Iron Man of India”, Sardar Patel is known to have played a crucial role in the unification of India.

4. On this day in 2018, PM Modi unveiled a 182m-tall statue of Sardar Vallabhbhai Patel. The Statue of Unity is situated on the bank of Narmada River in the Kevadiya colony, facing the Sardar Sarovar Dam near the city of Vadodara.

5. Amid concerns over data security, the *government has clarified that the Aarogya Setu app is completely safe* and developed in most transparent manner.

6. *Three BJP workers were shot dead by militants in Kulgam district of Jammu and Kashmir* : Fida Hussain, Umer Hajam and Umer Rashid Beigh were shot by militants in YK Pora area of Kulgam district late on Thursday evening.

7. *The Supreme Court Thursday stayed the Uttarakhand High Court’s “drastic order” for a CBI probe into corruption allegations against Chief Minister Trivendra Singh Rawat*

8. *BSP leader Mayawati on Thursday suspended seven of her party’s rebel MLAs who had opposed the nomination of its official candidate Ramji Gautam for the elections to the Rajya Sabha* . Amid speculation that the MLAs could switch sides in Uttar Pradesh, Mayawati also said that to ensure defeat of Samajwadi Party candidates in future MLC elections, her party will vote for BJP or any other party’s candidate.

9. *National Investigation Agency (NIA) on Thursday raided and searched at nine locations in Kashmir and in the national capital belonging to 6 NGOs* , trusts in Kashmir, Delhi in connection with terror funding case.

10. Andhra Pradesh govt distributes Rs 1,115 crore under Rythu Bharosa scheme to farmers.

11. *Commerce and Industry Ministry releases next edition of its consolidated foreign direct investment (FDI) policy document*

12. *Former Gujarat CM Keshubhai Patel dies at 92*, he was the state chief minister in 1995 and again from 1998-2001; PM Modi condoles the death.

13. *The Indian Army on Thursday launched a messaging app called SAI that will provide secure voice, text and video calling services to its soldiers* : The model (of SAI) is similar to commercially available messaging applications like WhatsApp, Telegram, SAMVAD and GIMS and utilises end-to-end encryption messaging protocol,.

14. The Chinook helicopter of the Indian Air Force (IAF) started its sorties from Gauchar helipad to transport heavy machines needed for the redevelopment of Kedarnath.

15. *The Supreme Court Thursday extended till December 31 the deadline for implementation of its judgement on grant of permanent commission to women SSC officers in Indian Navy*

16. *Coronavirus Cases:*
8,070,589
Deaths: 120,899
Recovered: 7,348,147

*✈INTERNATIONAL NEWS*

1. *Saudi Arabia removes PoK, Gilgit-Baltistan from Pakistan’s map, activist calls move ‘Diwali Gift’ to India* : Saudi Arabia released a 20 Riyal banknote to commemorate its presidency of organising the G-20 Summit ,and the world map displayed on the banknote does not show Gilgit-Baltistan and Kashmir as parts of Pakistan.

2. *Pulwama attack: Pakistan minister brags 'Ghar me ghus ke maara', calls it 'great achievement' of Imran Khan govt*: Pakistan on Thursday bla

tantly bragged about it and called it a 'great achievement' of the Imran Khan government. In the attack on February 14, 2019, a total of 40 Central Reserve Police Force (CRPF) jawans lost their lives. In the Pakistan National Assembly, Federal Minister for Science & Technology Fawad Chaudhry claimed that the attack in Pulwama was a major achievement.

3. Pakistan claimed on Thursday that there was "no pressure" on it to release Indian Air Force Wing Commander Abhinandan Varthaman, a day after a top Opposition leader said that Foreign Minister Shah Mahmood Qureshi pleaded at a high-level meeting to release him fearing an Indian attack on the country.

4. *India on Thursday said its military talks with China on the border row have no connection with "any extraneous issue", comments that came in the backdrop of recently concluded Indo-US 2+2 dialogue.* During the talks, the two countries discussed Beijing's military belligerence in eastern Ladakh and Indo-Pacific region and inked a strategic defence pact.

5. *India has conveyed its serious concern to Saudi Arabia over "gross misrepresentation" of its external territorial boundaries in a banknote issued by the Gulf nation last week, and asked it to take "urgent corrective steps",* the ministry of external affairs said on Thursday. The global map printed on the new 20 Riyal banknote, released to mark Saudi Arabia's presidency of the G20 grouping, does not feature Jammu and Kashmir and Ladakh as part of India.

6. *Commerce and Industries Minister Piyush Goyal chaired 19th meeting of Foreign Trade & Economic Ministers of Shanghai Cooperation Organisation, SCO*

7. *union cabinet approved the Memorandum of Understanding signed between India and Cambodia* on cooperation in the field of medicine and health.

8. Union Cabinet approved the Memorandum of Cooperation (MoC) signed between India and Japan on Cooperation in the field of Information and Communication Technologies.

*🌎WORLD NEWS🌍*

1. *Another terrorist attack in the French city of Nice on Thursday (October 29), a knife-wielding man shouting "Allahu Akbar" (God is Greatest) beheaded a woman and killed two other people in a church.* A defiant President Emmanuel Macron vowed to deploy thousands of more soldiers to protect important French sites, such as places of worship and schools.

2. On the 16th of this month, a school teacher, Samuel Patty, was killed for using a cartoon of Prophet Mohammed to explain to his class about the freedom of expression. A few years ago, a French magazine Charlie Hebdo had published these cartoons.

3. *India stands with France in fight against terrorism, assures PM Narendra Modi; condemns recent terrorist attacks*

4. *A Saudi man was arrested in Jeddah after attacking and injuring a guard with a "sharp tool" at the French consulate on Thursday,* Saudi state TV reported. The French Embassy said the consulate was subject to an "attack by a knife which targeted a guard", adding the guard was taken to hospital and his life was not in danger.

5. A *study of over 200 COVID-19 cases in a hospital in Spain found that about 80% patients had vitamin D deficiency.*

6. *The government of Bangladesh has extended the closure of educational institutions till Nov. 14* . Earlier, the educational institutions were closed till October 31

7. *Coronavirus Cases:*
45,039,284
Deaths: 1,182,573
Recovered: 32,849,520
ACTIVE CASES
11,007,191

*🚣🚴🏇🏁🏊Sports:*

1. *IPL ; 2020*
*Thursday, 29th October 2020*
CHENNAI SUPER KINGS - *178/4* *won by 5 wicket's*

KOLKATA KNIGHT RIDERS - *172/5*

2. *Friday, 30th October 2020*
KINGS XI PUNJAB
Vs
RAJASTHAN ROYALS

19:30 IST (14:00 GMT), 18:00 LOCAL
Match 50 Zayed Cricket Stadium, Abu Dhabi.

3. *Faiza Heidar* grew up playing soccer in the streets with the boys and went on to *captain Egypts national womens team.* Now she *has become the first woman to train one of the countrys professional mens clubs.*

4. Indian men’s badminton player Lakshya Sen who was due to play the SaarLorLux Open in Germany this week has pulled out of the event after his co