MARKET LENS 16298 Intraday Pick CIPLA Resistance 16594 Intraday Pick GAIL 16692 Intraday Pick SBIN

Institutional Equity Research NIFTY 16496 IN FOCUS August 24 2021 Support 16397 Stock in Focus INDRAPRASTHA GAS MARKET LENS 16298 Intraday Pick CIPLA Resistance 16594 Intraday Pick GAIL 16692 Intraday Pick SBIN

EQUITY INDICES

Indices Absolute Change Percentage Change Domestic Last Trade Change 1-D 1-Mth YTD BSE Sensex 55,556 226.5 0.4% 4.9% 16.3% CNX Nifty 16,496 46.0 0.3% 4.0% 18.0% S&P CNX 500 13,931 (13.4) (0.1%) 1.8% 20.9% SENSEX 50 17,325 50.8 0.3% 4.1% 18.3%

International Last Trade Change 1-D 1-Mth YTD DJIA 35,336 215.6 0.6% 0.8% 15.5% NASDAQ 14,943 228.0 1.6% 0.7% 15.9% NIKKEI 27,793 298.3 1.1% 0.9% 1.3% HANGSENG 25,447 337.4 1.5% (6.7%) (6.4%)

ADRs / GDRs Last Trade Change 1-D 1-Mth YTD Dr. Reddy’s Lab (ADR) 61.1 (0.2) (0.3%) (16.3%) (14.3%) STOCK IN FOCUS Tata Motors (ADR) 18.7 (0.4) (2.2%) (4.5%) 48.7% Infosys (ADR) 24.1 0.2 0.9% 10.9% 42.2% f Indraprastha Gas (IGL IN) – Despite the reduction in public transport demand, CNG Volume crossed pre-covid levels to ~5.2mmscmd in ICICI Bank (ADR) 18.6 0.1 0.4% 1.8% 25.3% Jul’21, with PNG volumes growing by ~50% YoY to ~1.7mmscmd. HDFC Bank (ADR) 77.4 0.6 0.8% 10.7% 7.0% Expansion of new geographical areas i.e. Rewari, Karnal and Axis Bank (GDR) 49.6 0.1 0.1% (1.8%) 17.3% Gurugram, and the development of 2 new GAs could further Reliance Ind (GDR) 58.7 0.8 1.4% 2.9% 7.2% accelerate volume growth in the coming years. COMMODITY MARKET f Recovery is witnessed in Industrial PNG with unlocking measures, Key Commodities Last Trade Change 1-D 1-Mth YTD also sales of CNG conversions currently stand at >10k vehicles/ Brent Crude ($/bl) 68.9 0.6 0.8% (7.0%) 33.0% month, as the. OEMs have started producing more CNG variants, Silver ($/Oz) 23.6 (0.1) (0.2%) (6.4%) (11.2%) the only concern remains for the school bus the segment which is Gold ($/Oz) 1,805.1 (1.2) (0.0%) 0.2% (5.3%) yet to recover. Copper LME ($/MT) 9,263.8 20.8 0.2% (3.8%) 19.5% f With the higher emphasis on cleaner fuel, higher taxes on petrol Aluminium LME ($/MT) 2,595.8 1.5 0.1% 3.6% 31.2% & diesel augur well for the CNG infrastructure as CNG is the best economical and eco-friendly fuel. Lower gas cost Vis-a-vis retail CURRENCY RATES price reductions, the ability to pass on the entire cost increase, and Last Trade Change 1-D 1-Mth YTD the effective monopoly in operation areas will help keep the gross USD/INR 74.2 (0.19) (0.3%) (0.3%) 1.3% margin sustainable going ahead. EUR/INR 87.0 0.10 0.1% (0.7%) (3.2%) f IGL’s valuation is inexpensive, as the stock does not reflect a 10% volume CAGR over FY20-23E and expected expansion in EBITDA RATES margin. We maintain BUY on IGL with a 2-Year Target Price of Last Trade Change 1-D 1-Mth YTD Rs602. T-Bill - 91 D 3.3 (0.01) 0.00 (0.02) 0.09 10 Year G-sec Yield 6.2 0.01 0.00 0.01 0.06 Intraday Picks CIPLA (PREVIOUS CLOSE: 898) BUY INVESTMENT ACTIVITY (RS. CR) For today’s trade, long position can be initiated in the range of Rs 885- Category BUY SELL NET Prev 893 for the target of Rs.914 with a strict stop loss of Rs 877. FII 7,990.2 9,353.6 (1,363.4) (2,287.0) DII 6,437.6 4,985.1 1,452.5 119.3 GAIL (PREVIOUS CLOSE: 141) BUY For today’s trade, long position can be initiated in the range of Rs 138- EXCHANGE TURNOVER 140 for the target of Rs.145 with a strict stop loss of Rs 136. Exchange Rs Crore BSE Equity 5,746.2 SBIN (PREVIOUS CLOSE: 401) BUY BSE Derivatives 3,01,688.2 For today’s trade, long position can be initiated in the range of Rs 394- NSE Equity 63,552.7 397 for the target of Rs.410 with a strict stop loss of Rs 390. NSE Derivatives 45,34,429.6

1 Institutional Equity Research NIFTY 16496 IN FOCUS August 24 2021 Support 16397 Stock in Focus INDRAPRASTHA GAS MARKET LENS 16298 Intraday Pick CIPLA Resistance 16594 Intraday Pick GAIL 16692 Intraday Pick SBIN

Technical Research

MARKET SYNOPSIS f On Monday, NIFTY-50 begun the session at around 16,593-level and later remained in pressure. On the lower side, the index found support at around 16,396-level and bounced. Finally, the index closed the day with the gain of 46 points at 16,496-level. f NSE Cash segment reported turnover of Rs63,553 crore as compared to Rs69,325 crore reported earlier. f Overall market breadth remained negative, where 426 stocks advanced against 1,584 declined stocks. f Mixed trend was observed across sectoral indices during the day, where IT emerged as a top gainer with the increase of 1.7%. However Auto and Media emerged as top losers with the decrease of 1.5% and 1.7%, respectively.

NSE-NIFTY OUTLOOK f Yesterday, NIFTY-50 witnessed price-wise as well as time-wise correction as the index oscillated upwards after a sharp decline. On the lower side, its extended upper band of the broadening top pattern once again worked as key reversal point. The index breached its prior daily falling trend and settled tad below 16,500-level. Its hourly RSI advanced gradually after a positive cross-over. As mentioned earlier, we continue to believe that a stable move above 16,500-level could invalidate near-term decline in the index and may strengthen it to move towards 16,700-level. On the lower side, the index will continue to find support at around 16,350-level. f As for the day, support is placed at around 16,397 and then at 16,298 levels, while resistance is observed at 16,594 and then at 16,692 levels.

2 Institutional Equity Research NIFTY 16496 IN FOCUS August 24 2021 Support 16397 Stock in Focus INDRAPRASTHA GAS MARKET LENS 16298 Intraday Pick CIPLA Resistance 16594 Intraday Pick GAIL 16692 Intraday Pick SBIN Derivatives Snapshot f NIFTY50 opened higher on back of positive global cues and traded sideways in a narrow range and closed flat to positive. Nifty closed up by 46 points at 16,496 levels. Among the nifty stocks 22 advanced and 27 declined during the day. f Among sectors it was a mixed bag with Banks & IT to gain by 1% average while Media, Auto and Metals declined by 1.7% for the day. f Broader market indices remained positive with NIFTY 100, 200 and 500 to close up by 0.1% average while midcap indices and small cap indices declined by 0.8% for the day. f Nifty Jul futures end with 2 points discount at 16,494 mark while on other hand, Bank Nifty Jul futures ended with the premium of 34 points at 35,159 mark. f Nifty has closed in a inside range of the previous week and we expect some volatility at current levels. On the higher side 16,700 would act as strong resistance. Sectoral Activity: Amongst sectoral index Banks and IT remained in focus with positive momentum. Stock Activity: HDFC Bank and HCL Tech have witnessed long build up in today’s trade.

3 Institutional Equity Research NIFTY 16496 IN FOCUS August 24 2021 Support 16397 Stock in Focus INDRAPRASTHA GAS MARKET LENS 16298 Intraday Pick CIPLA Resistance 16594 Intraday Pick GAIL 16692 Intraday Pick SBIN Pivot Table Name LTP Support 2 Support 1 Pivot Resistance 1 Resistance 2 SENSEX 55556 54985 55270 55526 55811 56067 NIFTY 16496 16298 16397 16495 16594 16692 BANKNIFTY 35124 34513 34819 35123 35429 35733 ADANIPORTS 668 648 658 675 685 702 ASIANPAINT 3077 2985 3031 3097 3144 3210 AXISBANK 736 725 731 740 746 755 BAJAJ-AUTO 3668 3560 3614 3701 3755 3842 BAJAJFINSV 15272 14897 15085 15252 15440 15607 BAJFINANCE 6752 6634 6693 6756 6815 6879 BHARTIARTL 623 597 610 620 633 643 BPCL 452 442 447 453 458 465 BRITANNIA 3866 3780 3823 3894 3937 4008 CIPLA 898 879 889 898 908 918 COALINDIA 134 131 132 134 136 138 DIVISLAB 4875 4750 4812 4850 4913 4951 DRREDDY 4515 4439 4477 4538 4576 4637 EICHERMOT 2544 2480 2512 2567 2599 2655 GAIL 141 138 139 142 143 146 GRASIM 1441 1390 1415 1457 1483 1525 HCLTECH 1163 1104 1133 1156 1186 1208 HDFC 2722 2682 2702 2730 2750 2779 HDFCBANK 1525 1498 1511 1522 1536 1547 HDFCLIFE 669 657 663 668 674 678 HEROMOTOCO 2681 2628 2654 2683 2709 2737 HINDALCO 407 391 399 407 415 424 HINDUNILVR 2634 2555 2595 2634 2673 2712 ICICIBANK 683 666 674 682 690 698 INDUSINDBK 989 949 969 984 1004 1019 INFY 1739 1720 1729 1741 1751 1762 IOC 103 101 102 103 105 106 ITC 206 203 205 208 209 212 JSWSTEEL 684 646 665 683 702 720 KOTAKBANK 1717 1689 1703 1714 1728 1738 LT 1581 1538 1559 1589 1611 1640 M&M 766 745 755 774 785 804 MARUTI 6826 6731 6779 6848 6896 6965 NESTLEIND 20021 19354 19687 19891 20225 20429 NTPC 113 110 112 114 115 117 ONGC 112 107 110 111 113 114 POWERGRID 176 171 173 177 179 182 RELIANCE 2162 2115 2138 2156 2180 2198 SBILIFE 1135 1109 1122 1132 1145 1154 SBIN 410 396 403 408 415 420 SHREECEM 25986 25436 25711 26080 26356 26725 SUNPHARMA 759 741 750 760 769 779 TATAMOTORS 277 267 272 280 285 293 TATASTEEL 1359 1261 1310 1360 1409 1459 TCS 3637 3513 3575 3624 3686 3735 TECHM 1416 1389 1402 1423 1436 1457 TITAN 1870 1824 1847 1871 1894 1918 ULTRACEMCO 7351 7126 7239 7400 7513 7675 UPL 719 701 710 724 733 747 WIPRO 629 616 623 630 636 643

4 Institutional Equity Research NIFTY 16496 IN FOCUS August 24 2021 Support 16397 Stock in Focus INDRAPRASTHA GAS MARKET LENS 16298 Intraday Pick CIPLA Resistance 16594 Intraday Pick GAIL 16692 Intraday Pick SBIN Simple Moving Average Scrip Name Close Rate 20-SMA 50-SMA 100-SMA 200-SMA HIGH_52WEEK LOW_52WEEK SENSEX 55556 54234 53280 51547 49612 56119 36496 NIFTY 16496 16202 15948 15442 14733 16702 10790 BANKNIFTY 35124 35440 35231 34321 33205 37709 20405 ADANIPORTS 668 690 704 736 636 901 312 ASIANPAINT 3077 3005 3014 2857 2653 3180 1881 AXISBANK 736 744 749 728 696 799 400 BAJAJ-AUTO 3668 3801 3971 3935 3752 4361 2822 BAJAJFINSV 15272 14321 13143 11948 10465 15420 5400 BAJFINANCE 6752 6314 6181 5755 5390 6820 3007 BHARTIARTL 623 596 558 548 539 644 394 BPCL 452 455 460 451 429 494 325 BRITANNIA 3866 3600 3575 3564 3551 3968 3317 CIPLA 898 912 943 924 861 997 704 COALINDIA 134 142 146 143 139 165 110 DIVISLAB 4875 4907 4649 4304 3939 5045 2985 DRREDDY 4515 4748 5148 5109 4972 5615 4135 EICHERMOT 2544 2610 2656 2592 2601 3037 2015 GAIL 141 144 148 147 136 170 81 GRASIM 1441 1520 1517 1463 1260 1614 651 HCLTECH 1163 1066 1017 985 953 1178 682 HDFC 2722 2606 2545 2526 2510 2896 1623 HDFCBANK 1525 1478 1487 1469 1464 1641 1025 HDFCLIFE 669 669 682 681 679 746 556 HEROMOTOCO 2681 2780 2860 2883 3046 3629 2657 HINDALCO 407 433 403 389 326 474 154 HINDUNILVR 2634 2407 2429 2406 2329 2673 2000 ICICIBANK 683 693 664 636 592 717 334 INDUSINDBK 989 1007 1014 979 954 1120 485 INFY 1739 1668 1592 1482 1363 1756 912 IOC 103 105 108 103 98 118 72 ITC 206 210 207 208 207 239 163 JSWSTEEL 684 735 709 685 534 777 258 KOTAKBANK 1717 1736 1739 1753 1814 2049 1231 LT 1581 1613 1560 1485 1400 1677 843 M&M 766 767 777 784 779 952 568 MARUTI 6826 7023 7217 7018 7210 8329 6270 NESTLEIND 20021 18342 17938 17543 17454 20095 15100 NTPC 113 117 118 113 106 122 78 ONGC 112 115 118 114 105 129 64 POWERGRID 176 176 176 171 161 189 116 RELIANCE 2162 2105 2127 2066 2034 2369 1830 SBILIFE 1135 1126 1059 1003 938 1176 755 SBIN 410 430 427 402 355 467 176 SHREECEM 25986 27506 27841 28174 26719 32048 18184 SUNPHARMA 759 764 711 685 631 804 452 TATAMOTORS 277 296 315 313 277 361 122 TATASTEEL 1359 1418 1278 1151 895 1535 343 TCS 3637 3346 3301 3222 3092 3673 2228 TECHM 1416 1279 1159 1077 1013 1443 723 TITAN 1870 1801 1757 1647 1546 1895 1076 ULTRACEMCO 7351 7558 7188 6873 6247 7911 3754 UPL 719 781 802 750 630 865 399 WIPRO 629 604 573 532 465 639 268

5 Institutional Equity Research NIFTY 16496 IN FOCUS August 24 2021 Support 16397 Stock in Focus INDRAPRASTHA GAS MARKET LENS 16298 Intraday Pick CIPLA Resistance 16594 Intraday Pick GAIL 16692 Intraday Pick SBIN Bulk Deals Snapshot Deal Date Scrip Code Company Client Name Deal Type* Quantity Price 23/08/2021 539528 AAYUSH CLASSIC MERCANTILE LLP B 50,000 29.15 23/08/2021 539528 AAYUSH PALLAVI MITTAL S 48,949 29.14 23/08/2021 539570 ACEWIN AKASHKUMARJAIN RAVUKA B 57,600 3.78 23/08/2021 539570 ACEWIN PREMA LAL B 57,600 3.77 23/08/2021 539570 ACEWIN GRISHMA VIRAL JHAVERI B 144,000 3.68 23/08/2021 539570 ACEWIN GRISHMA VIRAL JHAVERI S 144,000 3.77 23/08/2021 539570 ACEWIN JESUDAS PREMKUMAR SEBASTIAN S 585,600 3.74 23/08/2021 500069 BNKCAP LEBNITZE REAL ESTATES PRIVATE LIMITED B 5,968,857 200.00 23/08/2021 500069 BNKCAP AJIT KUMAR KHANDELWAL S 80,050 200.00 23/08/2021 500069 BNKCAP PATREX VYAPAAR PRIVATE LIMITED S 90,000 200.00 23/08/2021 500069 BNKCAP R S KHANDELWAL (H.U.F) S 193,125 200.00 23/08/2021 500069 BNKCAP SANJEEV KUMAR KHANDELWAL S 214,175 200.00 23/08/2021 500069 BNKCAP ASIAN SECURITIES EXCHANGE PVT LIMITED S 491,250 200.00 23/08/2021 500069 BNKCAP BNK SECURITIES PVT LTD S 1,273,781 200.00 23/08/2021 500069 BNKCAP BRIJNATH KHANDELWAL & CO. S 3,571,376 200.00 23/08/2021 540361 DANUBE S N SHAH (HUF) S 58,831 33.50 23/08/2021 524743 FISCHER ARUNKUMAR B 932 90.07 23/08/2021 513309 GOLKONDA DIPAK KANAYALAL SHAH S 50,000 11.41 23/08/2021 513309 GOLKONDA RAJESH JOSEPH B 25,907 11.48 23/08/2021 526797 GREENPLY SHOWAN INVESTMENT PRIVATE LIMITED B 5,600,000 177.95 23/08/2021 526797 GREENPLY S.M.MANAGEMENT PRIVATE LTD S 5,600,000 177.95 23/08/2021 517571 INDLMETER MEHTA MANISHKUMAR SUMATIL AL B 50,000 11.83 23/08/2021 517571 INDLMETER NINJA SECURITIES PRIVATE LIMITED S 50,000 11.83 23/08/2021 514034 JBFIND PILOT CONSULTANTS PRIVATE LIMITED B 800,000 22.50 23/08/2021 514034 JBFIND GLADIATOR VYAPAAR PRIVATE LIMITED S 894,707 22.46 23/08/2021 500380 JKLAKSHMI GOLDMAN SACHS FUNDS GOLDMAN SACHS INDIA EQ PORTFOLIO B 1,277,969 696.50 23/08/2021 500380 JKLAKSHMI GOLDMAN SACHS INDIA FUND LIMITED S 1,277,969 696.50 23/08/2021 539767 MNIL KABIR SHRAN DAGAR HUF S 41,468 12.89 23/08/2021 539767 MNIL SITA RAM B 47,107 13.00 23/08/2021 540416 OCTAWARE MOHAMMED ASLAM QUDRATULLAH KHAN B 27,200 91.65 23/08/2021 540416 OCTAWARE SK GROWTH FUND PRIVATE LIMITED S 27,200 91.65 23/08/2021 540175 REGENCY SATVINDER SINGH S 32,497 11.00 23/08/2021 539584 SIPTL ALPHA LEON ENTERPRISES LLP B 1,300,000 1.90 23/08/2021 539584 SIPTL NEHA MIRLKUMAR VANKAWALA S 360,000 1.90 23/08/2021 539584 SIPTL JAYANTIBHAI MANJIBHAI SOJITRA S 489,500 1.90 23/08/2021 539584 SIPTL KANTILAL BHIKHAJI GAMETI S 1,137,636 1.90 23/08/2021 539584 SIPTL MOHANDAS VADAKE PUTHUR B 400,000 1.90 23/08/2021 521188 UNITEDTE MANOJ B 15,231 6.27 23/08/2021 531025 VISAGAR MEGHKUMAR MAHENDRAKUMAR SHAH . B 232,557 1.59 23/08/2021 532144 WELCORP GOLDMAN SACHS FUNDS GOLDMAN SACHS INDIA EQ PORTFOLIO B 3,136,994 110.35 23/08/2021 532144 WELCORP GOLDMAN SACHS INDIA FUND LIMITED S 3,136,994 110.35

*B - Buy, S - Sell, ** = Weighted Average Trade Price / Trade Price 6 Institutional Equity Research NIFTY 16496 IN FOCUS August 24 2021 Support 16397 Stock in Focus INDRAPRASTHA GAS MARKET LENS 16298 Intraday Pick CIPLA Resistance 16594 Intraday Pick GAIL 16692 Intraday Pick SBIN

Monthly Economic Calendar

Date Country Event Period Survey Prior 24-08-2021 United States Richmond Manufacturing Survey AUG 20.73 27.00 26-08-2021 United States Kansas City Federal Reserve SA AUG - 30.00 30-08-2021 United States Dallas Fed Manufacturing Outlo AUG 31.91 27.30 31-08-2021 United States FHFA US House Price Index Purc JUN 1.67 1.70 31-08-2021 United States S&P CoreLogic Case-Shiller 20- JUN 1.60 1.81 31-08-2021 United States S&P CoreLogic Case-Shiller 20- JUN 16.08 16.99 31-08-2021 United States S&P CoreLogic Case-Shiller 20- JUN - 262.70 31-08-2021 United States Conference Board Consumer Conf AUG 123.56 129.10

7 Institutional Equity Research NIFTY 16496 IN FOCUS August 24 2021 Support 16397 Stock in Focus INDRAPRASTHA GAS MARKET LENS 16298 Intraday Pick CIPLA Resistance 16594 Intraday Pick GAIL 16692 Intraday Pick SBIN

Corporate Actions Company Name Ex-Date Purpose Datamatics Global Services Limited 24-Aug-21 Interim Dividend - Rs 2.50 Per Sh Apollo Pipes Limited 24-Aug-21 Annual General Meeting Ugro Capital Limited 24-Aug-21 Annual General Meeting Sundaram Finance Limited 24-Aug-21 Annual General Meeting/Dividend - Rs 6 Per Share Snowman Logistics Limited 24-Aug-21 Annual General Meeting Natco Pharma Limited 24-Aug-21 Interim Dividend - Rs 2 Per Share Precision Wires India Limited 24-Aug-21 Annual General Meeting/Dividend - Rs 2 Per Share NK Industries Limited 24-Aug-21 Annual General Meeting Macrotech Developers Limited 24-Aug-21 Annual General Meeting GOVERNMENT OF INDIA 25-Aug-21 Interest Payment GOVERNMENT OF INDIA 25-Aug-21 Interest Payment

Result Calendar Company name Board Meeting Date Purpose GVK Power & Infrastructure Limited 24-Aug-21 Financial Results Gillette India Limited 24-Aug-21 Financial Results/Dividend India Tourism Development Corporation Limited 24-Aug-21 Financial Results Procter & Gamble Hygiene and Health Care Limited 25-Aug-21 Financial Results/Dividend Tamilnadu Telecommunication Limited 25-Aug-21 Financial Results/Other business matters The Mandhana Retail Ventures Limited 25-Aug-21 Financial Results McDowell Holdings Limited 26-Aug-21 Financial Results Procter & Gamble Health Limited 26-Aug-21 Financial Results/Dividend Technofab Engineering Limited 26-Aug-21 Financial Results IL&FS Engineering and Construction Company Limited 27-Aug-21 Financial Results Dharani Sugars & Chemicals Limited 28-Aug-21 Financial Results Opto Circuits (India) Limited 31-Aug-21 Financial Results

8 Institutional Equity Research NIFTY 16496 IN FOCUS August 24 2021 Support 16397 Stock in Focus INDRAPRASTHA GAS MARKET LENS 16298 Intraday Pick CIPLA Resistance 16594 Intraday Pick GAIL 16692 Intraday Pick SBIN

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

9 Institutional Equity Research NIFTY 16496 IN FOCUS August 24 2021 Support 16397 Stock in Focus INDRAPRASTHA GAS MARKET LENS 16298 Intraday Pick CIPLA Resistance 16594 Intraday Pick GAIL 16692 Intraday Pick SBIN

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