MARKET LENS 15147 Intraday Pick MARUTI Resistance 15349 Intraday Pick SUNTV 15397 Intraday Pick BALKRISIND

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Institutional Equity Research NIFTY 15301 IN FOCUS May 27 2021 Support 15224 Stock in Focus BAJAJ FINANCE MARKET LENS 15147 Intraday Pick MARUTI Resistance 15349 Intraday Pick SUNTV 15397 Intraday Pick BALKRISIND

EQUITY INDICES

Indices Absolute Change Percentage Change Domestic Last Trade Change 1-D 1-Mth YTD BSE Sensex 51,018 380.0 0.8% 2.6% 6.8% CNX Nifty 15,301 93.0 0.6% 2.9% 9.4% S&P CNX 500 13,022 59.2 0.5% 4.0% 13.1% SENSEX 50 16,024 99.0 0.6% 3.0% 9.5%

International Last Trade Change 1-D 1-Mth YTD DJIA 34,323 10.6 0.0% 1.5% 12.1% NASDAQ 13,738 80.8 0.6% (2.2%) 6.6% NIKKEI 28,469 (173.2) (0.6%) (2.0%) 3.7% HANGSENG 29,177 20.9 0.1% 0.4% 7.2%

ADRs / GDRs Last Trade Change 1-D 1-Mth YTD Dr. Reddy’s Lab (ADR) 72.0 (0.8) (1.1%) 5.8% 1.0% STOCK IN FOCUS Tata Motors (ADR) 21.8 0.4 1.8% 6.5% 72.7% f BAF is focused on the mass-affluent segment. Additionally, it Infosys (ADR) 19.3 0.5 2.8% 5.7% 13.6% ICICI Bank (ADR) 18.0 0.3 1.7% 7.2% 20.9% enjoys significant pricing power in its shorter-tenor and small-ticket HDFC Bank (ADR) 74.0 1.0 1.3% (0.4%) 2.4% unsecured loans, as the change in EMI (for each percentage point Axis Bank (GDR) 50.6 0.4 0.8% 7.6% 19.6% increase in interest rate) is lower for the short-tenor small-ticket loans. Reliance Ind (GDR) 54.3 0.2 0.3% (0.6%) (0.8%) f Even though it has the lion’s share in consumer durable financing COMMODITY MARKET and OEM subvention, the household debt – as a percentage of debt Key Commodities Last Trade Change 1-D 1-Mth YTD – is still small in India compared to even its Asian peers. Thus, the Brent Crude ($/bl) 68.5 (0.3) (0.4%) 1.7% 32.1% company will remain a growth organization in the near-term and we Silver ($/Oz) 27.6 (0.2) (0.8%) 5.8% 4.2% model an AUM growth of ~23%-26% over FY22E-FY24E. Gold ($/Oz) 1,894.5 (6.7) (0.4%) 6.8% (0.3%) Copper LME ($/MT) 9,942.3 (18.0) (0.1%) 0.9% 28.2% f Its financial ecosystem offering can potentially be a game-changer Aluminium LME ($/MT) 2,404.3 (9.5) (0.4%) 0.2% 21.4% from FY23 onwards, as it positions itself well for a potential banking CURRENCY RATES license. Further, the business transformation programme instituted Last Trade Change 1-D 1-Mth YTD by the company can lead to sustainable improvement in operating USD/INR 72.8 (0.14) (0.2%) (2.1%) (0.6%) efficiency and will give further fillip to its sourcing, underwriting and EUR/INR 89.2 0.14 0.2% (0.6%) (0.8%) collections. RATES f We have a BUY rating on BAF with a 2-Year Target Price of Last Trade Change 1-D 1-Mth YTD Rs6,650 (valuing the standalone entity at 6x of FY24E P/BV). T-Bill - 91 D 3.4 0.03 0.00 0.02 0.11 10 Year G-sec Yield 6.0 0.00 0.00 (0.01) 0.01 Intraday Picks MARUTI (PREVIOUS CLOSE: 7,034) BUY INVESTMENT ACTIVITY (RS. CR) For today’s trade, long position can be initiated in the range of Rs7,005- Category BUY SELL NET Prev 6-970 for the target of Rs7,140 with a strict stop loss of Rs6,915. FII 5,114.1 4,872.5 241.6 959.8 DII 3,623.9 4,062.5 (438.6) (563.6) SUNTV (PREVIOUS CLOSE: 539) BUY For today’s trade, long position can be initiated in the range of Rs536- EXCHANGE TURNOVER 530 for the target of Rs553 with a strict stop loss of Rs524. Exchange Rs Crore BSE Equity 4,997.6 BALKRISIND (PREVIOUS CLOSE: 2,165) SELL BSE Derivatives 3,20,170.5 For today’s trade, short position can be initiated in the range of Rs2,178- NSE Equity 69,144.7 2,195 for the target of Rs2,120 with a strict stop loss of Rs2,215. NSE Derivatives 42,80,251.8

1 Institutional Equity Research NIFTY 15301 IN FOCUS May 27 2021 Support 15224 Stock in Focus BAJAJ FINANCE MARKET LENS 15147 Intraday Pick MARUTI Resistance 15349 Intraday Pick SUNTV 15397 Intraday Pick BALKRISIND

Technical Research

MARKET SYNOPSIS f On Wednesday, NSE-NIFTY bounced after an initial decline and managed to hold higher level with the help of narrow range consolidation. Finally, the index finished trade with the gain of 93 points at 15,301-level. f NSE Cash segment reported turnover of Rs69,145 crore as compared to Rs73,500 crore reported earlier. f Overall market breadth remained positive, where 1,247 stocks advanced against 736 declined stocks. f Mixed trend was observed across sectoral indices during the day, where IT, Media and Realty emerged as top gainers with the increase of 1.8%-2.8%. However Metal emerged as a top loser with the decrease of 1.9%.

NSE-NIFTY OUTLOOK f We believe NIFTY will move higher towards its life-time-high of 15,432-level. Yesterday, the index invalidated prior bearish formation- Shaven Head and settled at around its near-term hurdle of 15,300-level. The key technical indicators on the near-term timeframe chart reversed before testing their threshold level and are positively poised. Hence, we believe the index will move higher. On the lower side, the index will find support at around 15,150-level initially and 15,000-level subsequently. f As for the day, support is placed at around 15,224 and then at 15,147 levels, while resistance is observed at 15,349 and then at 15,397 levels.

2 Institutional Equity Research NIFTY 15301 IN FOCUS May 27 2021 Support 15224 Stock in Focus BAJAJ FINANCE MARKET LENS 15147 Intraday Pick MARUTI Resistance 15349 Intraday Pick SUNTV 15397 Intraday Pick BALKRISIND Derivatives Snapshot f NIFTY bounced after an initial decline and managed to hold higher level with the help of narrow range consolidation. Finally, the index finished trade with the gain of 93 points at 15,301-level. Among the nifty stocks 31 advanced and 18 declined during the day. f Mixed trend was observed across sectoral indices during the day, where IT, Media and Realty emerged as top gainers with the increase of 1.8%-2.8%. However Metal emerged as a top loser with the decrease of 1.9%. f Broader market indices remained positive with NIFTY 100, 200 and 500 to close up by 0.5% average while midcap indices and small cap indices gained by 0.1% and 0.6%, respectively for the day. f Nifty May futures end with 2 points premium at 15,303 mark while on other hand, Bank Nifty May futures ended with the premium of 40 points at 34,724 mark. f We believe NIFTY will move higher towards its life-time-high of 15,432-level. There could be some volatility with respect to rollover movement in individual sectors and stocks. Sectoral Activity: Amongst sectoral index IT and Media remained in focus with positive momentum. Stock Activity: NAUKRI and SUN TV have witnessed long buildup in today’s trade.

3 Institutional Equity Research NIFTY 15301 IN FOCUS May 27 2021 Support 15224 Stock in Focus BAJAJ FINANCE MARKET LENS 15147 Intraday Pick MARUTI Resistance 15349 Intraday Pick SUNTV 15397 Intraday Pick BALKRISIND Pivot Table Name Close Rate R2 R1 Pivot S1 S2 SENSEX 51,018 51,356 51,187 50,904 50,734 50,451 Nifty 50 15,301 15,352 15,280 15,222 15,150 15,091 NiftyBank 34,684 35,448 35,055 34,733 34,340 34,017 ADANIPORTS 758 784 774 767 756 749 ASIANPAINT 2,942 2,987 2,950 2,887 2,851 2,787 AXISBANK 735 753 742 734 723 715 BAJAJ-AUTO 4,166 4,205 4,178 4,159 4,132 4,113 BAJAJFINSV 11,906 11,531 11,453 11,327 11,250 11,124 BAJFINANCE 5,771 5,697 5,658 5,620 5,581 5,543 BHARTIARTL 526 533 530 527 523 521 BPCL 472 484 479 474 469 464 BRITANNIA 3,416 3,486 3,463 3,424 3,401 3,362 CIPLA 945 945 940 935 930 925 COALINDIA 146 151 149 148 146 145 DIVISLAB 4,099 4,159 4,129 4,107 4,076 4,054 DRREDDY 5,285 5,360 5,336 5,295 5,271 5,230 EICHERMOT 2,634 2,677 2,651 2,608 2,582 2,539 GRASIM 1,409 1,421 1,398 1,376 1,353 1,331 HCLTECH 946 949 945 940 936 931 HDFC 2,568 2,588 2,559 2,541 2,513 2,495 HDFCBANK 1,477 1,531 1,505 1,488 1,462 1,444 HDFCLIFE 659 680 670 663 653 647 HEROMOTOCO 2,965 2,965 2,947 2,927 2,910 2,890 HINDALCO 381 403 397 393 387 383 HINDUNILVR 2,354 2,382 2,363 2,351 2,331 2,319 ICICIBANK 653 658 654 648 645 639 INDUSINDBK 998 1,027 1,010 996 980 966 INFY 1,397 1,375 1,368 1,361 1,355 1,348 IOC 112 113 112 111 109 108 ITC 211 215 213 212 210 208 JSWSTEEL 682 728 714 701 688 675 KOTAKBANK 1,741 1,790 1,770 1,754 1,734 1,718 LT 1,473 1,472 1,461 1,452 1,441 1,432 M&M 821 836 823 816 804 796 MARUTI 7,034 6,976 6,944 6,916 6,884 6,856 NESTLEIND 17,541 17,902 17,709 17,566 17,373 17,229 NTPC 111 116 114 114 113 112 ONGC 113 119 117 115 113 112 POWERGRID 226 236 235 233 231 230 RELIANCE 1,970 2,010 1,987 1,973 1,950 1,936 SBILIFE 972 976 971 967 961 958 SBIN 414 419 416 412 409 405 SHREECEM 27,077 27,527 27,284 27,092 26,849 26,657 SUNPHARMA 704 701 699 695 692 688 TATACONSUM 642 659 654 648 643 637 TATAMOTORS 316 321 318 316 313 311 TATASTEEL 1,082 1,136 1,121 1,110 1,095 1,084 TCS 3,159 3,154 3,134 3,108 3,088 3,062 TECHM 1,008 1,011 1,002 993 984 975 TITAN 1,583 1,600 1,584 1,560 1,544 1,520 ULTRACEMCO 6,581 6,684 6,620 6,574 6,510 6,464 UPL 813 814 805 797 789 781 WIPRO 527 529 523 519 514 510 4 Institutional Equity Research NIFTY 15301 IN FOCUS May 27 2021 Support 15224 Stock in Focus BAJAJ FINANCE MARKET LENS 15147 Intraday Pick MARUTI Resistance 15349 Intraday Pick SUNTV 15397 Intraday Pick BALKRISIND Simple Moving Average Scrip Name Close Rate 20-SMA 50-SMA 100-SMA 200-SMA HIGH_52WEEK LOW_52WEEK SENSEX 50,638 49,410 49,402 49,437 45,144 52,517 30,158 Nifty 50 15,301 14,885 14,764 14,675 13,360 15,432 8,969 NiftyBank 34,684 33,370 33,281 33,463 29,295 37,709 17,105 ADANIPORTS 758 757 745 661 517 885 298 ASIANPAINT 2,942 2,688 2,584 2,566 2,338 2,948 1,501 AXISBANK 735 714 704 701 605 799 333 BAJAJ-AUTO 4,166 3,952 3,778 3,814 3,431 4,361 2,450 BAJAJFINSV 11,906 11,179 10,268 9,870 8,349 11,980 3,985 BAJFINANCE 5,771 5,525 5,245 5,245 4,545 5,822 1,783 BHARTIARTL 526 546 536 550 516 623 394 BPCL 472 444 435 424 405 482 302 BRITANNIA 3,416 3,453 3,546 3,531 3,609 4,010 3,080 CIPLA 945 905 869 848 804 966 610 COALINDIA 146 142 137 138 132 163 110 DIVISLAB 4,099 4,043 3,785 3,716 3,496 4,205 2,090 DRREDDY 5,285 5,211 4,877 4,880 4,855 5,513 3,811 EICHERMOT 2,634 2,484 2,514 2,619 2,443 3,037 1,336 GRASIM 1,409 1,400 1,389 1,252 1,010 1,475 513 HCLTECH 946 919 959 960 881 1,067 516 HDFC 2,568 2,477 2,499 2,571 2,288 2,896 1,486 HDFCBANK 1,477 1,438 1,455 1,480 1,346 1,641 833 HDFCLIFE 659 669 684 692 649 746 480 HEROMOTOCO 2,965 2,864 2,955 3,136 3,084 3,629 2,020 HINDALCO 381 387 361 319 257 428 121 HINDUNILVR 2,354 2,379 2,357 2,325 2,245 2,506 1,955 ICICIBANK 653 618 597 590 504 679 286 INDUSINDBK 998 950 944 960 817 1,120 330 INFY 1,397 1,346 1,362 1,329 1,193 1,478 665 IOC 112 100 96 96 90 113 72 ITC 211 206 209 211 199 239 163 JSWSTEEL 682 713 600 499 403 773 164 KOTAKBANK 1,741 1,755 1,786 1,847 1,690 2,049 1,117 LT 1,473 1,388 1,400 1,411 1,207 1,593 810 M&M 821 776 798 808 726 952 398 MARUTI 7,034 6,720 6,810 7,198 7,115 8,329 4,851 NESTLEIND 17,541 16,950 16,931 17,173 16,931 18,844 15,100 NTPC 111 109 106 103 97 117 78 ONGC 113 112 109 105 91 122 64 POWERGRID 226 224 218 212 195 240 154 RELIANCE 1,970 1,962 1,992 1,997 2,045 2,369 1,412 SBILIFE 972 969 931 910 872 1,045 716 SBIN 414 374 364 351 283 428 149 SHREECEM 27,077 27,554 28,300 27,067 24,465 32,048 18,184 SUNPHARMA 704 682 642 624 571 722 443 TATACONSUM 642 651 646 625 574 698 355 TATAMOTORS 316 309 307 292 219 357 82 TATASTEEL 1,082 1,114 939 811 633 1,247 273 TCS 3,159 3,092 3,122 3,113 2,837 3,354 1,925 TECHM 1,008 974 989 987 899 1,082 510 TITAN 1,583 1,486 1,498 1,498 1,368 1,621 838 ULTRACEMCO 6,581 6,462 6,548 6,213 5,313 7,056 3,496 UPL 813 701 651 593 533 816 356 WIPRO 527 505 463 444 384 530 183 ZEEL 194 202 211 213 199 261 129

5 Institutional Equity Research NIFTY 15301 IN FOCUS May 27 2021 Support 15224 Stock in Focus BAJAJ FINANCE MARKET LENS 15147 Intraday Pick MARUTI Resistance 15349 Intraday Pick SUNTV 15397 Intraday Pick BALKRISIND Bulk Deals Snapshot Deal Date Scrip Code Company Client Name Deal Type* Quantity Price 26/05/2021 543210 AARTISURF JAYA CHANDRAKANT GOGRI S 370,000 1,249.11 26/05/2021 543210 AARTISURF SETU SECURITIES PVT LTD B 47,411 1,250.48 26/05/2021 543210 AARTISURF SETU SECURITIES PVT LTD S 15,167 1,342.48 26/05/2021 543210 AARTISURF NIKHIL PARIMAL DESAI B 40,000 1,283.13 26/05/2021 543210 AARTISURF NIKHIL HOLDINGS PRIVATE LIMITED B 97,500 1,399.65 26/05/2021 543210 AARTISURF ALPHA LEON ENTERPRISES LLP B 110,613 1,251.92 26/05/2021 543210 AARTISURF ALPHA LEON ENTERPRISES LLP S 27,392 1,304.52 26/05/2021 543210 AARTISURF MATALIA STOCK BROKING PRIVATE LIMITED B 52,565 1,268.06 26/05/2021 543210 AARTISURF MATALIA STOCK BROKING PRIVATE LIMITED S 35,930 1,336.13 26/05/2021 500009 AMBALALSA MONET SECURITIES PRIVATE LTD S 500,000 60.80 26/05/2021 531752 BIOGEN TOPGAIN FINANCE PRIVATE LIMITED B 7,114,681 .23 26/05/2021 531752 BIOGEN TOPGAIN FINANCE PRIVATE LIMITED S 4,633 .23 26/05/2021 538521 CROWNTOURS RAJANIBEN JAYESHBHAI PANSAL B 15,707 18.53 26/05/2021 540811 DML VIJAY HARISHANKAR PATIL S 60,000 11.50 26/05/2021 541627 HITECHWIND SIMANTI BAGCHI S 26,100 4.80 26/05/2021 541627 HITECHWIND SWETA GAURANG VORA S 31,500 4.94 26/05/2021 541627 HITECHWIND GAURANG GIRDHARLAL VORA S 35,000 4.94 26/05/2021 541627 HITECHWIND SAIKUMARTV B 32,813 4.80 26/05/2021 539097 HKG HARSHAD JITENDRA CHANDE B 110,000 55.00 26/05/2021 539097 HKG HARSHAD JITENDRA CHANDE S 45,000 55.91 26/05/2021 531337 JUMPNET ARBINA MAQBOOL DHOKI B 720,000 7.36 26/05/2021 522287 KALPATPOWR SBI MUTUAL FUND B 2,827,724 425.00 26/05/2021 522287 KALPATPOWR KALPATARU PROPERTIES PRIVATE LIMITED S 2,888,800 425.01 26/05/2021 505523 MAHACORP TURBOT TRADERS PRIVATE LIMITED S 1,200,000 .57 26/05/2021 539519 MAYUKH KESHAV PRASAD MUNDHRA B 35,000 18.15 26/05/2021 539519 MAYUKH PRANESH DEALMARK PRIVATE LIMITED S 56,465 18.21 26/05/2021 539519 MAYUKH VIDHAN KOTHARI B 50,000 18.20 26/05/2021 539519 MAYUKH SHAILESH PRABHAKAR DALVI S 40,000 18.20 26/05/2021 526723 NTCIND KALIMATA INVESTMENT CONSULTANCY PRIVATE LIMITED S 60,000 60.14 26/05/2021 539287 ORTINLAABS RAHUL GUPTA S 55,212 28.13 26/05/2021 506852 PACL ALPHA LEON ENTERPRISES LLP B 149,475 83.35 26/05/2021 506852 PACL ALPHA LEON ENTERPRISES LLP S 167,216 83.18 26/05/2021 506122 PANKAJPIYUS LALITKUMARGOPILAL B 2,065 59.94 26/05/2021 539561 REMLIFE MADESWARAN SENTHAMARAI S 25,000 88.29 26/05/2021 532527 RKFORGE KIRTAN MANEKLAL RUPARELIYA (HUF) B 208,498 663.75 26/05/2021 532527 RKFORGE KIRTAN MANEKLAL RUPARELIYA (HUF) S 57,488 667.90 26/05/2021 540259 SHANGAR OLGA TRADING PRIVATE LIMITED B 10,136 11.55 26/05/2021 540259 SHANGAR OLGA TRADING PRIVATE LIMITED S 81,478 11.26 26/05/2021 540259 SHANGAR SHREE SHIVSHAKTI PROJECT CONSULTANT PRIVATE LIMITED B 82,010 11.15 26/05/2021 540259 SHANGAR SHREE SHIVSHAKTI PROJECT CONSULTANT PRIVATE LIMITED S 109,985 11.21 26/05/2021 540259 SHANGAR JYOTIBEN CHANDULAL SANGHVI S 100,000 11.15 26/05/2021 532070 SUPRBPA AKASH ARUNKUMAR SHAH S 47,567 12.07

*B - Buy, S - Sell, ** = Weighted Average Trade Price / Trade Price 6 Institutional Equity Research NIFTY 15301 IN FOCUS May 27 2021 Support 15224 Stock in Focus BAJAJ FINANCE MARKET LENS 15147 Intraday Pick MARUTI Resistance 15349 Intraday Pick SUNTV 15397 Intraday Pick BALKRISIND

Monthly Economic Calendar

Date Country Event Period Survey Prior 27-05-2021 United States GDP US Chained 2012 Dollars Qo 1Q S 6.79 6.40 27-05-2021 United States GDP US Personal Consumption Ch 1Q S 10.37 10.70 27-05-2021 United States US GDP Price Index QoQ SAAR 1Q S 2.83 4.10 27-05-2021 United States US GDP Personal Consumption Co 1Q S 2.32 2.30 27-05-2021 United States US Pending Home Sales Index Mo APR 4.51 1.92 27-05-2021 United States US Pending Home Sales Index Yo APR 29.23 25.30 27-05-2021 United States Kansas City Federal Reserve SA MAY - 31.00 01-06-2021 United States Dallas Fed Manufacturing Outlo MAY 30.19 37.30 16-06-2021 United States Federal Funds Target Rate - Up JUN 16 0.25 0.25

7 Institutional Equity Research NIFTY 15301 IN FOCUS May 27 2021 Support 15224 Stock in Focus BAJAJ FINANCE MARKET LENS 15147 Intraday Pick MARUTI Resistance 15349 Intraday Pick SUNTV 15397 Intraday Pick BALKRISIND

Corporate Actions Company Name Ex-Date Purpose Cigniti Technologies Limited 27-May-21 Annual General Meeting/Dividend - Rs 2.50 Per Share Government of India 27-May-21 Interest Payment GOVERNMENT OF INDIA 27-May-21 Interest Payment IndInfravit Trust 27-May-21 Interest Payment Rs 2.03 Per Unit/ Return Of Capital Rs 1.57 Per Unit/ Dividend Re 0.55 Per Unit/Other Income On Surplus Re 0.04 Per Unit GOVERNMENT OF INDIA 27-May-21 Interest Payment Indiabulls Housing Finance Limited 28-May-21 Interim Dividend - Rs 9 Per Share JM Financial Limited 28-May-21 Annual General Meeting/Dividend - Rs 0.50 Per Share Government of India 28-May-21 Interest Payment Tata Coffee Limited 28-May-21 Dividend - Rs 1.50 Per Share

Result Calendar Company name Board Meeting Date Purpose 63 moons technologies limited 27-May-21 Financial Results Aegis Logistics Limited 27-May-21 Financial Results/Dividend Alkyl Amines Chemicals Limited 27-May-21 Financial Results/Dividend Amrutanjan Health Care Limited 27-May-21 Financial Results Balrampur Chini Mills Limited 27-May-21 Financial Results Banaras Beads Limited 27-May-21 Financial Results Bharat Bijlee Limited 27-May-21 Financial Results BSEL Infrastructure Realty Limited 27-May-21 Financial Results Cadila Healthcare Limited 27-May-21 Financial Results/Dividend Capri Global Capital Limited 27-May-21 Financial Results/Dividend/Fund Raising Dixon Technologies (India) Limited 27-May-21 Financial Results/Dividend/Fund Raising Eicher Motors Limited 27-May-21 Financial Results/Dividend Fine Organic Industries Limited 27-May-21 Financial Results/Dividend Garware Technical Fibres Limited 27-May-21 Financial Results/Dividend Greenlam Industries Limited 27-May-21 Financial Results/Dividend GTL Limited 27-May-21 Financial Results Gujarat State Fertilizers & Chemicals Limited 27-May-21 Financial Results/Dividend HEG Limited 27-May-21 Financial Results/Dividend Honda India Power Products Limited 27-May-21 Financial Results/Dividend IRB Infrastructure Developers Limited 27-May-21 Financial Results Kalyan Jewellers India Limited 27-May-21 Financial Results Kopran Limited 27-May-21 Financial Results/Dividend Navneet Education Limited 27-May-21 Financial Results NOCIL Limited 27-May-21 Financial Results/Dividend Page Industries Limited 27-May-21 Financial Results PC Jeweller Limited 27-May-21 Financial Results

8 Institutional Equity Research NIFTY 15301 IN FOCUS May 27 2021 Support 15224 Stock in Focus BAJAJ FINANCE MARKET LENS 15147 Intraday Pick MARUTI Resistance 15349 Intraday Pick SUNTV 15397 Intraday Pick BALKRISIND

Result Calendar Company name Board Meeting Date Purpose PDS Multinational Fashions Limited 27-May-21 Financial Results/Dividend Rane Holdings Limited 27-May-21 Financial Results Rashtriya Chemicals and Fertilizers Limited 27-May-21 Financial Results/Dividend Ravinder Heights Limited 27-May-21 Financial Results Redington (India) Limited 27-May-21 Financial Results S H Kelkar and Company Limited 27-May-21 Financial Results/Dividend Sanghvi Movers Limited 27-May-21 Financial Results Siyaram Silk Mills Limited 27-May-21 Financial Results/Dividend Solar Industries India Limited 27-May-21 Financial Results/Dividend Strides Pharma Science Limited 27-May-21 Financial Results/Dividend Sun Pharmaceutical Industries Limited 27-May-21 Financial Results/Dividend Suryoday Small Finance Bank Limited 27-May-21 Financial Results Tamilnadu Telecommunication Limited 27-May-21 Financial Results The Phoenix Mills Limited 27-May-21 Financial Results Themis Medicare Limited 27-May-21 Financial Results/Dividend Thomas Cook (India) Limited 27-May-21 Financial Results TTK Healthcare Limited 27-May-21 Financial Results/Dividend UCO Bank 27-May-21 Financial Results Action Construction Equipment Limited 28-May-21 Financial Results/Dividend Aditya Birla Fashion and Retail Limited 28-May-21 Financial Results Ador Welding Limited 28-May-21 Financial Results Aries Agro Limited 28-May-21 Financial Results/Dividend Aries Agro Limited 28-May-21 Financial Results/Dividend Arvind SmartSpaces Limited 28-May-21 Financial Results/Dividend Aurionpro Solutions Limited 28-May-21 Financial Results/Dividend Camlin Fine Sciences Limited 28-May-21 Financial Results/Dividend Central Bank of India 28-May-21 Financial Results City Union Bank Limited 28-May-21 Financial Results/Dividend City Union Bank Limited 28-May-21 Financial Results/Dividend Deepak Fertilizers and Petrochemicals Corporation 28-May-21 Financial Results/Dividend Limited Delta Manufacturing Limited 28-May-21 Financial Results Dilip Buildcon Limited 28-May-21 Financial Results/Dividend Excel Industries Limited 28-May-21 Financial Results/Dividend Genus Power Infrastructures Limited 28-May-21 Financial Results Glenmark Pharmaceuticals Limited 28-May-21 Financial Results/Dividend GMM Pfaudler Limited 28-May-21 Financial Results/Dividend HeidelbergCement India Limited 28-May-21 Financial Results/Dividend Hinduja Global Solutions Limited 28-May-21 Financial Results/Dividend Hinduja Global Solutions Limited 28-May-21 Financial Results/Dividend India Nippon Electricals Limited 28-May-21 Financial Results Indian Bank 28-May-21 Financial Results IPCA Laboratories Limited 28-May-21 Financial Results 9 Institutional Equity Research NIFTY 15301 IN FOCUS May 27 2021 Support 15224 Stock in Focus BAJAJ FINANCE MARKET LENS 15147 Intraday Pick MARUTI Resistance 15349 Intraday Pick SUNTV 15397 Intraday Pick BALKRISIND

Guided Allocation Towards Research Products Product Max. Allocation Number Frequency Call Duration Allocation (%) in 1 stock (%) of Calls Trading Products Intraday 30 25-30 3-4 stocks Daily Daily Positional Calls/weekly calls/BTST 30 15-20 6-7 stocks Weekly Fortnightly TradEdge 15 25-50 2 stocks Fortnightly Monthly Option Strategies 15 10-20 2 stocks Weekly Weekly Cash 10 Total 100

Product Max. Allocation Number Frequency Call Duration Allocation (%) in 1 stock (%) of Calls Investment Products Rsec Model Portfolio 25 10 8-10 stocks Monthly Half Yearly Stock In Focus 25 5 1 stock Daily Quarterly Fundamental Calls 25 5 10 Quarterly Yearly Initiating Coverage 20 10 As and When Yearly Cash 5 Total 100

10 Institutional Equity Research NIFTY 15301 IN FOCUS May 27 2021 Support 15224 Stock in Focus BAJAJ FINANCE MARKET LENS 15147 Intraday Pick MARUTI Resistance 15349 Intraday Pick SUNTV 15397 Intraday Pick BALKRISIND

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