MARKET LENS 15407 Intraday Pick BIOCON Resistance 15629 Intraday Pick HDFCLIFE 15682 Intraday Pick M&M

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Institutional Equity Research NIFTY 15576 IN FOCUS June 03 2021 Support 15492 Stock in Focus BHARAT ELECTRONICS MARKET LENS 15407 Intraday Pick BIOCON Resistance 15629 Intraday Pick HDFCLIFE 15682 Intraday Pick M&M

EQUITY INDICES

Indices Absolute Change Percentage Change Domestic Last Trade Change 1-D 1-Mth YTD BSE Sensex 51,849 (85.4) (0.2%) 7.5% 8.6% CNX Nifty 15,576 1.4 0.0% 7.5% 11.4% S&P CNX 500 13,274 63.9 0.5% 7.9% 15.2% SENSEX 50 16,314 0.6 0.1% 7.5% 11.4%

International Last Trade Change 1-D 1-Mth YTD DJIA 34,600 25.1 0.1% 1.4% 13.1% NASDAQ 13,756 19.9 0.1% 0.9% 6.7% NIKKEI 29,087 140.4 0.5% 0.9% 6.0% HANGSENG 29,265 (3.3) (0.1%) 2.5% 7.4%

ADRs / GDRs Last Trade Change 1-D 1-Mth YTD Dr. Reddy’s Lab (ADR) 72.4 (0.4) (0.5%) 4.8% 1.5% STOCK IN FOCUS Tata Motors (ADR) 22.3 0.6 2.5% 14.8% 77.3% f Bharat Electronics (BEL) is the key beneficiary of the government’s Infosys (ADR) 19.3 0.0 0.1% 6.5% 13.8% “Atmanirbhar Bharat” and “Make in India” initiatives. The ICICI Bank (ADR) 17.9 (0.0) (0.1%) 12.4% 20.7% HDFC Bank (ADR) 76.4 0.4 0.5% 10.5% 5.8% Government of India (GoI) is committed to defence modernization Axis Bank (GDR) 50.5 (1.0) (1.9%) 7.8% 19.4% and indigenization, going ahead which is likely to benefit the defence Reliance Ind (GDR) 60.6 0.9 1.5% 16.8% 10.7% companies like BEL. f BEL is well-placed to leverage its expertise in growing defense capex COMMODITY MARKET Key Commodities Last Trade Change 1-D 1-Mth YTD led by: (1) strong execution track record with large manufacturing Brent Crude ($/bl) 71.7 0.5 0.6% 4.1% 38.4% base; (2) preferred vendor for the GoI’s orders being a PSU; (3) addition Silver ($/Oz) 28.3 0.1 0.4% 6.6% 6.7% of innovative products; (4) collaboration with foreign partners; and (5) Gold ($/Oz) 1,910.3 0.4 (0.0%) 7.4% 0.2% strong focus on R&D. Copper LME ($/MT) 10,142.0 30.3 0.3% 2.0% 30.8% f Its order book stood at Rs548bn at the end of 3QFY21, which along Aluminium LME ($/MT) 2,449.0 12.8 0.6% 0.9% 23.7% with healthy book to- bill ratio (4.2x of TTM revenue) provides CURRENCY RATES adequate revenue visibility for the next couple of years. Last Trade Change 1-D 1-Mth YTD f The management is confident of clocking double-digit revenue USD/INR 73.4 0.23 0.3% (1.2%) 0.2% growth over the next decade aided by business opportunities in both EUR/INR 89.3 (0.11) (0.1%) 0.1% (0.7%) defence and non-defence segments. RATES f We have BUY rating on the stock with 2-Year Target Price of Last Trade Change 1-D 1-Mth YTD Rs170. T-Bill - 91 D 3.4 0.00 0.00 0.03 0.11 10 Year G-sec Yield 6.0 (0.02) 0.00 (0.00) 0.02 Intraday Picks BIOCON (PREVIOUS CLOSE: 388) BUY INVESTMENT ACTIVITY (RS. CR) For today’s trade, long position can be initiated in the range of Rs 384- Category BUY SELL NET Prev 386 for the target of Rs.398 with a strict stop loss of Rs 381. FII 11,510.8 10,589.7 921.1 (449.9) DII 4,657.4 4,415.6 241.8 230.5 HDFCLIFE (PREVIOUS CLOSE: 676) BUY For today’s trade, long position can be initiated in the range of Rs 668- EXCHANGE TURNOVER 672 for the target of Rs.2450 with a strict stop loss of Rs 660. Exchange Rs Crore BSE Equity 5,452.2 M&M (PREVIOUS CLOSE: 810) SELL BSE Derivatives 3,32,028.2 For today’s trade, short position can be initiated in the range of Rs 818- NSE Equity 74,428.2 824 for the target of Rs.800 with a strict stop loss of Rs 832. NSE Derivatives 43,28,023.3

1 Institutional Equity Research NIFTY 15576 IN FOCUS June 03 2021 Support 15492 Stock in Focus BHARAT ELECTRONICS MARKET LENS 15407 Intraday Pick BIOCON Resistance 15629 Intraday Pick HDFCLIFE 15682 Intraday Pick M&M

Technical Research

MARKET SYNOPSIS f On Wednesday, NSE-NIFTY declined gradually post a dull start and slipped to 15,460-level. In the late trades, the index bounced and managed to erase intraday loss. Finally, the index finished trade with the gain of 1 point at 15,576-level. f NSE Cash segment reported turnover of Rs74,428 crore as compared to Rs64,176 crore reported earlier. f Overall market breadth was positive, where 1,376 stocks advanced against 589 declined stocks. f Mixed trend was observed across sectoral indices during the day, where Metal and PSU Bank emerged as top gainers with the increase of 2.2% and 3%, respectively. However none of the sectoral indices has reported loss of more than 1%.

NSE-NIFTY OUTLOOK f We believe NIFTY is poised for a breakout from its upper band of the rising channel, which could take the index towards 15,800-level initially and 16,000-level subsequently. Yesterday, the index slipped to 15,460-level respecting prior daily formation-spinning top. Later, the index erased intraday loss with the help of late trade rebound. Due to late trade reversal in the index, the key technical indicators on the near-term timeframe chart reversed after testing their threshold level and are positively poised. Hence, we believe the index is poised for a breakout. On the lower side, the index will continue to find support at around 15,430-level. f As for the day, support is placed at around 15,492 and then at 15,407 levels, while resistance is observed at 15,629 and then at 15,682 levels.

2 Institutional Equity Research NIFTY 15576 IN FOCUS June 03 2021 Support 15492 Stock in Focus BHARAT ELECTRONICS MARKET LENS 15407 Intraday Pick BIOCON Resistance 15629 Intraday Pick HDFCLIFE 15682 Intraday Pick M&M Derivatives Snapshot f NIFTY50 opened higher on back of positive global cues and continued its positive momentum to close near the high point of the day. Nifty closed up by 1 point at 15,576 levels. Among the nifty stocks 27 advanced and 23 declined during the day. f Among sectors it was a mixed bag with FMCG and IT to decline by 0.5% average while Auto and Metals gained by 2% average for the day. f Broader market indices remained flat with NIFTY 100, 200 and 500 to close down by 0.3% average while midcap indices and small cap indices gained by 1.5% for the day. f Nifty Jun futures end with 41 points premium at 15,617 mark while on other hand, Bank Nifty Jun futures ended with the premium of 150 points at 35,524 mark. f Nifty has closed at the higher end of the range and we expect markets to trade volatile ahead of the credit policy and weekly expiry. Nifty 15300 would continue to act as strong support from current levels.

Sectoral Activity: Amongst sectoral index PSU Banks and Metals remained in focus with positive momentum. Stock Activity: SBI and NMDC have witnessed long buildup in today’s trade.

3 Institutional Equity Research NIFTY 15576 IN FOCUS June 03 2021 Support 15492 Stock in Focus BHARAT ELECTRONICS MARKET LENS 15407 Intraday Pick BIOCON Resistance 15629 Intraday Pick HDFCLIFE 15682 Intraday Pick M&M Pivot Table Name LTP Support 2 Support 1 Pivot Resistance 1 Resistance 2 SENSEX 51849 51275 51562 51738 52025 52201 NIFTY 15576 15407 15492 15545 15629 15682 BANKNIFTY 35374 34941 35157 35287 35503 35632 ADANIPORTS 812 792 802 813 823 834 ASIANPAINT 2904 2848 2876 2905 2933 2961 AXISBANK 737 728 732 739 743 750 BAJAJ-AUTO 4295 4161 4228 4267 4334 4373 BAJAJFINSV 11824 11637 11730 11795 11889 11954 BAJFINANCE 5809 5696 5752 5799 5855 5901 BHARTIARTL 530 524 527 531 533 537 BPCL 475 467 471 473 477 479 BRITANNIA 3475 3429 3452 3469 3492 3509 CIPLA 955 940 947 954 961 968 COALINDIA 149 146 147 149 150 152 DIVISLAB 4214 4169 4192 4224 4246 4278 DRREDDY 5312 5245 5279 5316 5350 5387 EICHERMOT 2678 2614 2646 2670 2702 2726 GAIL 159 154 157 160 162 166 GRASIM 1442 1412 1427 1441 1456 1470 HCLTECH 944 931 937 944 950 957 HDFC 2562 2508 2535 2558 2586 2609 HDFCBANK 1504 1485 1495 1502 1512 1520 HDFCLIFE 676 657 667 672 682 687 HEROMOTOCO 2973 2918 2945 2969 2996 3020 HINDALCO 399 383 391 397 405 411 HINDUNILVR 2359 2337 2348 2361 2372 2384 ICICIBANK 648 638 643 646 651 655 INDUSINDBK 1028 994 1011 1021 1038 1047 INFY 1379 1352 1365 1379 1392 1405 IOC 111 109 110 111 112 112 ITC 209 206 208 210 211 214 JSWSTEEL 706 691 699 704 711 716 KOTAKBANK 1783 1759 1771 1782 1794 1805 LT 1471 1447 1459 1467 1479 1486 M&M 806 797 802 807 811 817 MARUTI 7185 7014 7100 7149 7234 7283 NESTLEIND 17654 17356 17505 17659 17808 17962 NTPC 111 110 110 111 112 112 ONGC 118 114 116 118 119 121 POWERGRID 227 223 225 227 229 231 RELIANCE 2201 2137 2169 2189 2222 2242 SBILIFE 984 950 967 980 997 1010 SBIN 437 426 432 435 440 444 SHREECEM 27894 27364 27629 27818 28084 28273 SUNPHARMA 677 667 672 675 680 683 TATAMOTORS 323 312 318 321 326 330 TATASTEEL 1124 1093 1109 1119 1135 1145 TCS 3129 3090 3110 3135 3154 3179 TECHM 1017 981 999 1012 1030 1043 TITAN 1586 1550 1568 1582 1600 1615 ULTRACEMCO 6594 6488 6541 6606 6659 6723 UPL 838 799 818 830 849 860 WIPRO 543 528 536 540 548 552

4 Institutional Equity Research NIFTY 15576 IN FOCUS June 03 2021 Support 15492 Stock in Focus BHARAT ELECTRONICS MARKET LENS 15407 Intraday Pick BIOCON Resistance 15629 Intraday Pick HDFCLIFE 15682 Intraday Pick M&M Simple Moving Average Scrip Name Close Rate 20-SMA 50-SMA 100-SMA 200-SMA HIGH_52WEEK LOW_52WEEK SENSEX 51849 50164 49482 49723 45670 52517 32348 NIFTY 15576 15085 14805 14767 13501 15661 9544 BANKNIFTY 35374 33946 33225 33726 29751 37709 19507 ADANIPORTS 812 765 751 680 532 885 298 ASIANPAINT 2904 2777 2638 2571 2374 2990 1578 AXISBANK 737 723 703 709 615 799 360 BAJAJ-AUTO 4295 4049 3825 3857 3468 4361 2610 BAJAJFINSV 11824 11396 10451 10021 8516 12025 4900 BAJFINANCE 5809 5581 5266 5270 4622 5845 2199 BHARTIARTL 530 542 536 551 515 623 394 BPCL 475 457 436 430 406 488 325 BRITANNIA 3475 3450 3548 3523 3595 4010 3306 CIPLA 955 915 883 853 809 966 616 COALINDIA 149 146 137 139 133 163 110 DIVISLAB 4214 4089 3857 3728 3534 4284 2090 DRREDDY 5312 5253 4959 4867 4870 5513 3814 EICHERMOT 2678 2538 2517 2630 2461 3037 1559 GAIL 159 154 143 140 120 166 81 GRASIM 1442 1416 1397 1288 1039 1495 565 HCLTECH 944 928 955 961 890 1067 545 HDFC 2562 2498 2497 2571 2314 2896 1623 HDFCBANK 1504 1456 1450 1486 1362 1641 928 HDFCLIFE 676 669 678 691 651 746 486 HEROMOTOCO 2973 2903 2908 3131 3094 3629 2231 HINDALCO 399 394 367 328 264 428 136 HINDUNILVR 2359 2365 2375 2320 2250 2506 2000 ICICIBANK 648 629 600 597 513 679 324 INDUSINDBK 1028 972 941 968 834 1120 444 INFY 1379 1357 1365 1338 1208 1478 676 IOC 111 105 97 97 91 114 72 ITC 209 209 210 212 199 239 163 JSWSTEEL 706 710 628 515 416 773 175 KOTAKBANK 1783 1762 1767 1833 1706 2049 1228 LT 1471 1419 1394 1422 1225 1593 843 M&M 806 791 794 815 733 952 456 MARUTI 7185 6850 6797 7163 7132 8329 5201 NESTLEIND 17654 17243 17012 17098 16956 18844 15100 NTPC 111 110 106 104 98 117 78 ONGC 118 114 108 106 92 122 64 POWERGRID 227 226 219 215 197 240 155 RELIANCE 2201 1997 1988 2005 2044 2369 1497 SBILIFE 984 977 935 914 875 1045 729 SBIN 437 392 368 360 291 438 169 SHREECEM 27894 27455 28365 27337 24676 32048 18184 SUNPHARMA 677 689 648 628 575 722 452 TATAMOTORS 323 315 307 301 226 357 92 TATASTEEL 1124 1133 978 836 654 1247 300 TCS 3129 3112 3133 3128 2867 3354 2001 TECHM 1017 988 990 990 912 1082 528 TITAN 1586 1517 1510 1500 1384 1621 901 ULTRACEMCO 6594 6538 6558 6317 5408 7056 3600 UPL 838 753 671 614 543 841 398 WIPRO 543 519 475 453 392 547 206

5 Institutional Equity Research NIFTY 15576 IN FOCUS June 03 2021 Support 15492 Stock in Focus BHARAT ELECTRONICS MARKET LENS 15407 Intraday Pick BIOCON Resistance 15629 Intraday Pick HDFCLIFE 15682 Intraday Pick M&M Bulk Deals Snapshot Deal Date Scrip Code Company Client Name Deal Type* Quantity Price 02/06/2021 540776 5PAISA MADHUKAR CHIMANLAL SHETH S 195,000 350.46 02/06/2021 540776 5PAISA BRIJKISHOR TRADING PRIVATE LIMITED B 169,259 350.44 02/06/2021 534064 AIML FE ENERGITECH PRIVATE LIMITED B 100,000 15.50 02/06/2021 534064 AIML PARKLIGHT SECURITIES LIMITED S 167,950 15.50 02/06/2021 531752 BIOGEN R SATHIAMURTHI B 6,000,000 .22 02/06/2021 530249 BRIDGESE HEM ARCADE LIMITED S 48,138 6.06 02/06/2021 530249 BRIDGESE PRAGNESH R SHAH HUF B 93,027 6.06 02/06/2021 530249 BRIDGESE SHASHANK GAUTAMBHAI THAKKER S 21,399 6.06 02/06/2021 530829 CILSEC Y MADAN MOHANA RAO S 30,000 12.35 02/06/2021 540151 DIKSAT HETAL SHASHANK DOSHI S 114,000 67.50 02/06/2021 540811 DML VIJAY HARISHANKAR PATIL S 80,000 11.75 02/06/2021 530077 FRSHTRP* FRESHTROP FRUITS LIMITED B 57,864 89.97 02/06/2021 542918 GIANLIFE MOHAK AMITKUMAR SHAH S 24,000 23.00 02/06/2021 542918 GIANLIFE MAULIK CONSULTANCY B 24,000 23.00 02/06/2021 531199 GLANCE ASHISH COMMERCIALS LLP B 158,000 58.25 02/06/2021 531199 GLANCE BHADRASILA VENTURES LLP B 200,000 58.25 02/06/2021 531199 GLANCE CHITRAKUT VENTURES LLP B 206,000 58.25 02/06/2021 531199 GLANCE REENA TUSHAR AGARWAL S 206,753 58.25 02/06/2021 531199 GLANCE TUSHAR G AGARWAL S 351,006 58.25 02/06/2021 539519 MAYUKH ALPAPRADEEPBHATT B 13,165 18.95 02/06/2021 539519 MAYUKH ALPAPRADEEPBHATT S 32,192 19.32 02/06/2021 526622 MFLINDIA R SATHIAMURTHI B 11,000,000 .18 02/06/2021 526622 MFLINDIA SHIVANI KHOSLA S 1,948,261 .18 02/06/2021 526622 MFLINDIA ANIL THUKRAL S 7,200,000 .18 02/06/2021 540809 MRCEXIM SUNIL KUMAR SINGH B 56,000 3.98 02/06/2021 540809 MRCEXIM SANTOSH DAULAT PASHTE S 80,000 3.97 02/06/2021 540198 OSIAJEE MUNNOO LAL KANCHAN B 41,808 28.36 02/06/2021 540198 OSIAJEE ACVC FOREX PRIVATE LIMITED S 59,500 28.00 02/06/2021 539469 PANORAMA DISHANK VIPUL SHAH S 60,000 44.25 02/06/2021 532742 PAUSHAKLTD ASHISH RAMESH KACHOLIA S 17,461 7,402.40 02/06/2021 526043 POLYCHMP GAURAV DOSHI B 34,127 54.56 02/06/2021 526043 POLYCHMP GAURAV DOSHI S 20,010 54.28 02/06/2021 526043 POLYCHMP DINESH LAXMANSINH RAJPUT S 64,822 53.86 02/06/2021 501351 RAPIDIN SOLUTION COMMERCIALS INDIA PVT LTD B 50,500 33.25 02/06/2021 501351 RAPIDIN PALLAVI SYNTHETICS PVT LTD S 50,500 33.25 02/06/2021 540796 RATNABHUMI BEELINE BROKING LIMITED B 4,000 67.50 02/06/2021 540796 RATNABHUMI BEELINE BROKING LIMITED S 80,000 67.82 02/06/2021 540796 RATNABHUMI JAYESHKUMAR BALCHAND SHAH B 80,000 67.82 02/06/2021 540786 SHARIKA DHWAJA SHARES & SECURITIES PVT LTD S 58,018 62.30 02/06/2021 539363 SKC U K VORA S 104,550 4.48 02/06/2021 513498 SOUTHMG STOCKTALKS PRIVATE LIMITED B 17,500 14.35 02/06/2021 539026 SSPNFIN SUNIL KUMAR SINGH S 36,000 8.38 02/06/2021 539026 SSPNFIN ESPS FINSERVE PRIVATE LIMITED B 40,000 8.33 02/06/2021 533170 TAMBOLI ROHAN SEOLEKAR S 52,096 48.45

*B - Buy, S - Sell, ** = Weighted Average Trade Price / Trade Price 6 Institutional Equity Research NIFTY 15576 IN FOCUS June 03 2021 Support 15492 Stock in Focus BHARAT ELECTRONICS MARKET LENS 15407 Intraday Pick BIOCON Resistance 15629 Intraday Pick HDFCLIFE 15682 Intraday Pick M&M

Monthly Economic Calendar

Date Country Event Period Survey Prior 03-06-2021 Hong Kong Markit Hong Kong PMI SA MAY - 50.30 03-06-2021 United Kingdom UK Official Reserves Changes i MAY - 1,634.00 03-06-2021 United Kingdom Markit/CIPS UK Services PMI Bu MAY F 0.00 61.80 03-06-2021 United States ADP National Employment Report MAY 633.25 742.20 03-06-2021 United States ISM Services PMI MAY 62.90 62.70 03-06-2021 United States Challenger US Job Cut Announce MAY - -96.60 04-06-2021 United Kingdom Markit/CIPS UK Construction PM MAY 0.00 61.60 04-06-2021 United States US Manufacturers New Orders To APR 0.69 1.10 07-06-2021 Hong Kong HKMA Hong Kong Official Foreig MAY - 490.60 08-06-2021 United States Federal Reserve Consumer Credi APR 0.00 25.84 08-06-2021 United States NFIB Small Business Optimism I MAY - 99.80 08-06-2021 United States US Job Openings By Industry To APR - 8,123.00 09-06-2021 United States Merchant Wholesalers Sales Tot APR - 4.60 10-06-2021 United States US Treasury Federal Budget Deb MAY - -225.58 10-06-2021 United States US CPI Urban Consumers MoM SA MAY 0.36 0.80 10-06-2021 United States US CPI Urban Consumers Less Fo MAY 0.42 0.90 10-06-2021 United States US CPI Urban Consumers YoY NSA MAY - 4.20 10-06-2021 United States US CPI Urban Consumers Less Fo MAY - 3.00 10-06-2021 United States US CPI Urban Consumers Less Fo MAY - 273.70 10-06-2021 United States US CPI Urban Consumers NSA MAY - 267.05 11-06-2021 India India Industrial Production APR - 22.40 11-06-2021 United Kingdom UK Trade Balance in Goods with APR - -6,548.00 11-06-2021 United Kingdom UK Trade Balance in Goods SA APR - -11,710.00 11-06-2021 United Kingdom UK Trade Balance Value of Trad APR - -1,966.00 14-06-2021 India India Wholesale Price Index Al MAY - 10.49 15-06-2021 United States US Industrial Production MOM S MAY 0.00 0.67 15-06-2021 United States US Capacity Utilization % of T MAY 0.00 74.87 15-06-2021 United States US Industrial Production Indus MAY - 0.40 15-06-2021 United States US Empire State Manufacturing JUN - 24.30 15-06-2021 United States National Association of Home B JUN - 83.00 15-06-2021 United States Adjusted Retail & Food Service MAY 0.00 0.00 15-06-2021 United States Adjusted Retail Sales Less Aut MAY 0.00 -0.80 15-06-2021 United States Adjusted Retail Sales Less Aut MAY 0.00 -0.80 15-06-2021 United States Retail Sales Less Food Service MAY 0.00 -1.50 15-06-2021 United States US Manufacturing & Trade Inven APR - 0.30 16-06-2021 United States US Import Price Index by End U MAY - 0.70 16-06-2021 United States US Import Price Index by End U MAY - 10.60 16-06-2021 United States US Foreign Net Transactions APR - 262.19 16-06-2021 United States US Treasury International Capi APR - 146.44 16-06-2021 United States Federal Funds Target Rate - Up JUN 16 0.25 0.25 17-06-2021 United States Conference Board US Leading In MAY - 1.60 17-06-2021 United States Philadelphia Fed Business Outl JUN - 31.50

7 Institutional Equity Research NIFTY 15576 IN FOCUS June 03 2021 Support 15492 Stock in Focus BHARAT ELECTRONICS MARKET LENS 15407 Intraday Pick BIOCON Resistance 15629 Intraday Pick HDFCLIFE 15682 Intraday Pick M&M

Corporate Actions Company Name Ex-Date Purpose GOVERNMENT OF INDIA 03-Jun-21 Interest Payment State Bank of India 03-Jun-21 Dividend - Rs 4 Per Share 5Paisa Capital Limited 03-Jun-21 Annual General Meeting Jyoti Structures Limited 04-Jun-21 Annual General Meeting GOVERNMENT OF INDIA 07-Jun-21 Interest Payment NELCO Limited 07-Jun-21 Dividend - Rs 1.20 Per Share GOVERNMENT OF INDIA 08-Jun-21 Interest Payment GOVERNMENT OF INDIA 08-Jun-21 Interest Payment Huhtamaki India Limited 09-Jun-21 Annual General Meeting/Dividend - Rs 3 Per Share Rallis India Limited 09-Jun-21 Annual General Meeting/Dividend - Rs 3 Per Share Asian Paints Limited 10-Jun-21 Dividend - Rs 14.50 Per Sh

Result Calendar Company name Board Meeting Date Purpose APL Apollo Tubes Limited 03-Jun-21 Financial Results Arvind Fashions Limited 03-Jun-21 Financial Results GTL Infrastructure Limited 03-Jun-21 Financial Results Gujarat State Petronet Limited 03-Jun-21 Financial Results Nilkamal Limited 03-Jun-21 Financial Results/Dividend Nucleus Software Exports Limited 03-Jun-21 Financial Results/Dividend Pressman Advertising Limited 03-Jun-21 Financial Results/Dividend Quess Corp Limited 03-Jun-21 Financial Results Asahi Songwon Colors Limited 04-Jun-21 Financial Results/Dividend Balkrishna Paper Mills Limited 04-Jun-21 Financial Results Bank of India 04-Jun-21 Financial Results Bharat Forge Limited 04-Jun-21 Financial Results/Dividend Hotel Rugby Limited 04-Jun-21 Financial Results IOL Chemicals and Pharmaceuticals Limited 04-Jun-21 Financial Results Jai Corp Limited 04-Jun-21 Financial Results/Dividend Jubilant Pharmova Limited 04-Jun-21 Financial Results/Dividend MOIL Limited 04-Jun-21 Financial Results/Dividend NIIT Limited 04-Jun-21 Financial Results/Dividend Paisalo Digital Limited 04-Jun-21 Financial Results/Dividend Pennar Industries Limited 04-Jun-21 Financial Results Punjab National Bank 04-Jun-21 Financial Results Sambhaav Media Limited 04-Jun-21 Financial Results Simbhaoli Sugars Limited 04-Jun-21 Financial Results Tokyo Plast International Limited 04-Jun-21 Financial Results Agri-Tech (India) Limited 05-Jun-21 Financial Results Ashima Limited 05-Jun-21 Financial Results

8 Institutional Equity Research NIFTY 15576 IN FOCUS June 03 2021 Support 15492 Stock in Focus BHARAT ELECTRONICS MARKET LENS 15407 Intraday Pick BIOCON Resistance 15629 Intraday Pick HDFCLIFE 15682 Intraday Pick M&M

Result Calendar Company name Board Meeting Date Purpose Dewan Housing Finance Corporation Limited 05-Jun-21 Financial Results Dynemic Products Limited 05-Jun-21 Financial Results IFGL Refractories Limited 05-Jun-21 Financial Results/Dividend InterGlobe Aviation Limited 05-Jun-21 Financial Results Techindia Nirman Limited 05-Jun-21 Financial Results VA Tech Wabag Limited 05-Jun-21 Financial Results BSL Limited 07-Jun-21 Financial Results/Dividend Dynamatic Technologies Limited 07-Jun-21 Financial Results Fairchem Organics Limited 07-Jun-21 Financial Results/Dividend Hi-Tech Pipes Limited 07-Jun-21 Financial Results Jubilant Ingrevia Limited 07-Jun-21 Financial Results/Dividend Landmark Property Development Company Limited 07-Jun-21 Financial Results Mold-Tek Technologies Limited 07-Jun-21 Financial Results/Dividend MRF Limited 07-Jun-21 Financial Results/Dividend Mrs. Bectors Food Specialities Limited 07-Jun-21 Financial Results/Dividend NK Industries Limited 07-Jun-21 Financial Results Seamec Limited 07-Jun-21 Financial Results Union Bank of India 07-Jun-21 Financial Results Bajaj Hindusthan Sugar Limited 08-Jun-21 Financial Results Bhagyanagar Properties Limited 08-Jun-21 Financial Results Engineers India Limited 08-Jun-21 Financial Results/Dividend Galaxy Surfactants Limited 08-Jun-21 Financial Results/Dividend Hester Biosciences Limited 08-Jun-21 Financial Results/Dividend K.M.Sugar Mills Limited 08-Jun-21 Financial Results Max Financial Services Limited 08-Jun-21 Financial Results Petronet LNG Limited 08-Jun-21 Financial Results/Dividend Prestige Estates Projects Limited 08-Jun-21 Financial Results Shemaroo Entertainment Limited 08-Jun-21 Financial Results Surana Telecom and Power Limited 08-Jun-21 Financial Results Suven Pharmaceuticals Limited 08-Jun-21 Financial Results/Dividend Talbros Automotive Components Limited 08-Jun-21 Financial Results/Dividend Tirupati Forge Limited 08-Jun-21 Financial Results Wonderla Holidays Limited 08-Jun-21 Financial Results Bata India Limited 09-Jun-21 Financial Results/Dividend Bcl Industries Limited 09-Jun-21 Financial Results/Dividend D. P. Abhushan Limited 09-Jun-21 Financial Results DiGiSPICE Technologies Limited 09-Jun-21 Financial Results Gayatri Highways Limited 09-Jun-21 Financial Results Indian Metals & Ferro Alloys Limited 09-Jun-21 Financial Results/Dividend Indraprastha Medical Corporation Limited 09-Jun-21 Financial Results South West Pinnacle Exploration Limited 09-Jun-21 Financial Results/Dividend Teamlease Services Limited 09-Jun-21 Financial Results Ambika Cotton Mills Limited 10-Jun-21 Financial Results/Dividend 9 Institutional Equity Research NIFTY 15576 IN FOCUS June 03 2021 Support 15492 Stock in Focus BHARAT ELECTRONICS MARKET LENS 15407 Intraday Pick BIOCON Resistance 15629 Intraday Pick HDFCLIFE 15682 Intraday Pick M&M

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 15576 IN FOCUS June 03 2021 Support 15492 Stock in Focus BHARAT ELECTRONICS MARKET LENS 15407 Intraday Pick BIOCON Resistance 15629 Intraday Pick HDFCLIFE 15682 Intraday Pick M&M

Reliance Securities Limited (RSL), the broking arm of Reliance Capital is one of the India’s leading retail broking houses. Reliance Capital is amongst India’s leading and most valuable financial services companies in the private sector. Reliance Capital has interests in asset management and mutual funds, life and general insurance, commercial finance, equities and commodities broking, wealth management services, distribution of financial products, private equity, asset reconstruction, proprietary investments and other activities in financial services. The list of associates of RSL is available on the website www. reliancecapital.co.in. RSL is registered as a Research Analyst under SEBI (Research Analyst) Regulations, 2014 General Disclaimers: This Research Report (hereinafter called ‘Report’) is prepared and distributed by RSL for information purposes only. The recommendations, if any, made herein are expression of views and/or opinions and should not be deemed or construed to be neither advice for the purpose of purchase or sale of any security, derivatives or any other security through RSL nor any solicitation or offering of any investment /trading opportunity on behalf of the issuer(s) of the respective security(ies) referred to herein. These information / opinions / views are not meant to serve as a professional investment guide for the readers. No action is solicited based upon the information provided herein. Recipients of this Report should rely on information/data arising out of their own investigations. Readers are advised to seek independent professional advice and arrive at an informed trading/investment decision before executing any trades or making any investments. This Report has been prepared on the basis of publicly available information, internally developed data and other sources believed by RSL to be reliable. RSL or its directors, employees, affiliates or representatives do not assume any responsibility for, or warrant the accuracy, completeness, adequacy and reliability of such information / opinions / views. While due care has been taken to ensure that the disclosures and opinions given are fair and reasonable, none of the directors, employees, affiliates or representatives of RSL shall be liable for any direct, indirect, special, incidental, consequential, punitive or exemplary damages, including lost profits arising in any way whatsoever from the information / opinions / views contained in this Report. Risks: Trading and investment in securities are subject to market risks. There are no assurances or guarantees that the objectives of any of trading / investment in securities will be achieved. The trades/ investments referred to herein may not be suitable to all categories of traders/investors. The names of securities mentioned herein do not in any manner indicate their prospects or returns. The value of securities referred to herein may be adversely affected by the performance or otherwise of the respective issuer companies, changes in the market conditions, micro and macro factors and forces affecting capital markets like interest rate risk, credit risk, liquidity risk and reinvestment risk. Derivative products may also be affected by various risks including but not limited to counter party risk, market risk, valuation risk, liquidity risk and other risks. Besides the price of the underlying asset, volatility, tenor and interest rates may affect the pricing of derivatives. Disclaimers in respect of jurisdiction: The possession, circulation and/or distribution of this Report may be restricted or regulated in certain jurisdictions by appropriate laws. No action has been or will be taken by RSL in any jurisdiction (other than India), where any action for such purpose(s) is required. Accordingly, this Report shall not be possessed, circulated and/or distributed in any such country or jurisdiction unless such action is in compliance with all applicable laws and regulations of such country or jurisdiction. RSL requires such recipient to inform himself about and to observe any restrictions at his own expense, without any liability to RSL. Any dispute arising out of this Report shall be subject to the exclusive jurisdiction of the Courts in India. Disclosure of Interest: The research analysts who have prepared this Report hereby certify that the views /opinions expressed in this Report are their personal independent views/opinions in respect of the securities and their respective issuers. None of RSL, research analysts, or their relatives had any known direct /indirect material conflict of interest including any long/short position(s) in any specific security on which views/opinions have been made in this Report, during its preparation. RSL’s Associates may have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report. RSL, its Associates, the research analysts, or their relatives might have financial interest in the issuer company(ies) of the said securities. RSL or its Associates may have received a compensation from the said issuer company(ies) in last 12 months for the brokerage or non brokerage services.RSL, its Associates, the research analysts or their relatives have not received any compensation or other benefits directly or indirectly from the said issuer company(ies) or any third party in last 12 months in any respect whatsoever for preparation of this report.

The research analysts has served as an officer, director or employee of the said issuer company(ies)?: No RSL, its Associates, the research analysts or their relatives holds ownership of 1% or more, in respect of the said issuer company(ies).?: No

Copyright: The copyright in this Report belongs exclusively to RSL. This Report shall only be read by those persons to whom it has been delivered. No reprinting, reproduction, copying, distribution of this Report in any manner whatsoever, in whole or in part, is permitted without the prior express written consent of RSL. RSL’s activities were neither suspended nor have defaulted with any stock exchange with whom RSL is registered. Further, there does not exist any material adverse order/judgments/strictures assessed by any regulatory, government or public authority or agency or any law enforcing agency in last three years. Further, there does not exist any material enquiry of whatsoever nature instituted or pending against RSL as on the date of this Report. Important These disclaimers, risks and other disclosures must be read in conjunction with the information / opinions / views of which they form part of. RSL CIN: U65990MH2005PLC154052. SEBI registration no. (Stock Broker: INZ000172433, Depository Participants: CDSL IN-DP-257-2016 IN-DP- NSDL-363-2013, Research Analyst: INH000002384); AMFI ARN No.29889.