JOINDRE CAPITAL SERVICES LTD. SEBI REGN NO. INH000002061 / INZ000174034

DAILY REPORT 10th August 2018

India to release June industrial production; RBI to hold govt bonds, term repo, reverse repo auctions; State Bank of , GAIL India, , Bosch India, Glenmark Pharmaceuticals, , Sun TV among companies to report earnings. Prime Minister Narendra Modi, Oil Minister Dharmendra Pradhan to speak.

WHAT TO WATCH: * India to Sell 3.49m Tons of Pulses to States at Subsidized Rates * India Must Name Chief Statistician At the Earliest, Panel Says * Vedanta Wins 41 blocks, ONGC 2 in Open Acreage Auction: Pradhan ** Vedanta’s Zambia Copper Unit Halts Section of Mine After Death * India Fraud Agency Arrests Former Bhushan Steel MD Neeraj Singal * Essar Signs 15-Year Gas Supply Contract With Gail: Statement * Power-Plant Lender in India Seeks $1 Billion in Dollar Bond Sale * Jet Air in Talks With Staff on Payroll Restructuring, Dube Says * Jet Airways Postpones Results Following Report of Cash Crunch * Templeton Favors Options to Ride Asia’s Best Stock Market Swings * Cryptokidnapping, or How to Lose $3 Billion of Bitcoin in India * The Leaders and Laggards Behind India’s World-Beat Growth * Modi’s Party Mulls Expanding Contentious India Citizenship Rules * Asia Stocks Edge Lower; Dollar Holds Advance: Markets Wrap * Global Funds Buy Net INR7.66b of India Equity Derivatives Thursday ** Global Funds Buy Net 3.71B Rupees of India Stocks Thursday: NSE ** Foreign Investors Buy Net INR9.17b of Indian Equities on Aug. 8

ECONOMIC DATA (All times India Time): * 5:30pm: India June Industrial Production y/y, est. 5.6%, prior 3.2%

GOVERNMENT: * 10am: New Delhi. Prime Minister Narendra Modi at World Biofuel Day event; Oil Minister Dharmendra Pradhan to be present * 10am: New Delhi. NITI Aayog to host conference on holistic development of islands; CEO Amitabh Kant to attend * 4pm: New Delhi. Hardeep Puri, MoS for Housing to launch Protocol for Swachh Survekshan 2019; Swachh Manch portal & Ease of Living Index * 6pm: New Delhi. Mahesh Sharma, MoS for for Culture to inaugurate an exhibition

CENTRAL BANK: * RBI to conduct 500b rupees, 6-day variable rate reverse repo auctions * RBI to auction 120b rupees of dated govt bonds * RBI to conduct 225b rupees of 14-day term-repo auction * RBI to release weekly FX, bank credit data

BOND SALES: * ABFL Plans to Raise up to INR44b Via 3-Part Bonds * Manappuram Finance to Raise INR30b Via Public Issue of Bonds

JOINDRE CAPITAL SERVICES LTD. SEBI REGN NO. INH000002061 / INZ000174034

EARNINGS: (net income adj. ests. in INR where available) * Aditya Birla Capital (ABCAP) 1Q * (ALKEM) 1Q 2.05b * Allcargo Logistics (AGLL) 1Q 484m (5) * Andhra Bank (ANDB) 1Q * (APHS) 1Q 648m (9) * Bosch India (BOS) 1Q 4.5b (4) * CG Power (CGPOWER) 273m (9) * Dhanuka Agritech (DAGRI) 1Q 203m (9) * DLF (DLFU) 1Q * Dr. Lal PathLabs (DLPL) 1Q 472m (5) * Elgi Equipments (ELEQ) 1Q 263m (3) * Endurance Technologies (ENDU) 1Q 1.28b (3) * GAIL India (GAIL) 1Q 11.6b (18) * Glenmark Pharmaceuticals (GNP) 1Q 1.74b (18) * Great Eastern Shipping (GESCO) 1Q * Gujarat Mineral (GMDC) 1Q 1.43b (5) * Hindalco Industries (HNDL) 1Q 4.4b (13) * Indian Hotels (IH) 1Q * Indraprastha Gas (IGL) 1Q 1.86b (22) * JB Chemicals (JBCP) 1Q * Kirloskar Oil Engines (KOEL) 408m (5) * KNR Constructions (KNRC) 1Q 396m (14) * LUX Industries (LUX) 1Q * Max India (MAXI) 1Q * (MIDHANI) 1Q * NCC Ltd. (NJCC) 1Q 784m (8) * NHPC (NHPC) 1Q * PC Jeweller (PCJL) 1Q * Sheela Foam (SFL) 1Q * State (SBIN) 1Q 2.38b (17) * Sun TV Networks (SUNTV) 1Q 3.7b (6) * Tamil Nadu Newsprint (TNNP) 1Q * Timken India (TMKN) 1Q 255m (4) * UCO Bank (UCO) 1Q * Uflex (UFLX) 1Q * (UNBK) 1Q loss 7.26b (8) * United Breweries (UBBL) 1Q 2.08b (6) * (VOLT) 1Q 1.82b (16)

CONFERENCES/CORPORATE EVENTS: * 10:30am: New Delhi. SIAM to announce Industry Sales Figures for July, 2018 * 2:30pm: Rajnish Kumar, chairman of hold a conference call to announce 1Q FY19 results followed by Q&A session * AGMs: 3M India, BASF India, , , Great Eastern Shipping, InterGlobe Aviation

JOINDRE CAPITAL SERVICES LTD. SEBI REGN NO. INH000002061 / INZ000174034

OFFERING: * Creditaccess Grameen IPO gets 37% demand for shares offered on 2nd day sale, offer close Aug. 10. * Dodla Dairy Files for IPO; to Sell 1.5B Rupees of New Shares

ANALYST ACTIONS: * Raised to Accumulate at Arihant Capital * Cut to Hold at Quantum Securities; PT 375 Rupees * Eicher Motors Raised to Neutral at Credit Suisse * NALCO Upgraded to Outperform at Macquarie; PT 82 Rupees * Lupin Downgraded to Underperform at Macquarie; PT 704 Rupees * Cut to Reduce at ICICI Securities * Adani Power Cut to Underperform at IDFC Securities; PT 24 Rupees * Lupin Downgraded to Reduce at HSBC; PT 735 Rupees * Lupin Downgraded to Hold at ICICI Securities; PT 852 Rupees

MARKETS: (As of 7.10 a.m. India time) * S&P 500 -0.1% to 2,853.58 * STOXX Europe 600 +0.1% to 390.05 * MSCI Asia Pacific Index +0.1% to 167.02 * Gold spot little changed at $1,212.75 * Brent Futures -0.2% to $71.92/bbl * Sensex up 0.36% to 38,024.37 * Nifty Index up 0.18% to 11,470.70 * SGX Nifty futures for Aug. delivery little changed at 11,484.50 * INR down 0.1% to 68.6825 * Yield on 7.17% bonds maturing Jan 2028 at 7.75% on Aug. 9 * INR Bonds Gain as Oil Drop Eases Inflation Worries: Inside India

EQUITY PREVIEW: * 63 Moons Technologies (63MOONS): 1Q profit 349.8m rupees vs 284.7m yr ago * AIA Engineering (AIAE): 1Q profit 1.05b rupees, est. 1.14b * (ARBP): 1Q net income 4.56b rupees, misses est. 5.33b * Capacit’e Infraprojects (CAPACITE): 1Q profit 227.3m rupees vs 160.9m yr ago * Clariant Chemicals (CLRC): 1Q net income 96.4m rupees vs 14.1m loss year ago * Coffee Day (CCD): 1Q net income 170m rupees vs 151m a year ago * Eicher Motors (EIM): 1Q net income 5.76b rupees, mises est. 6.06b * Eris Lifesciences (ERIS): 1Q profit 712.5m rupees vs 708.4m yr ago * Future Retail (FRETAIL): 1Q profit 1.53b rupees, Misses est. 1.99b * (GOAGRO): 1Q profit rises 9% to 802.4m rupees * Jindal Steel (JSP): 1Q net income 1.8b rupees; beats est. 1.3b * MT Educare (MTEL): 1Q loss 46.3m rupees vs profit 11.3m a year ago * Tata Communications (TCOM): 1Q loss 584.9m rupees vs 322.5m profit yr ago * Zensar Technologies (ZENT): 1Q profit 821.6m rupees vs 471.7m a year ago