Shriram Insight Daily Round-Up

EQUITY DAILY REPORT 24th March, 2021

Index Chart Market Wrap Up

● Domestic equity benchmarks ended near the day's low amid significant sellof. The Nify ended a tad below the 14,550 mark, afer hitting the day's low at 14,535.

● The S&P BSE Sensex, tumbled 871.13 points or 1.74% to 49,180.31. The Nify 50 index slumped 265.35 points or 1.79% to 14,549.40.

● The BSE Mid-Cap index slipped 1.69% and the BSE Small-Cap index lost 1.60%.

● Among the sectoral indices on the BSE, the Healthcare index (down 0.26%), the Utilities index (down 0.66%) and the Power index (down 0.95%) outperformed the S&P BSE Sensex. Meanwhile, the Realty index (down 2.93%), the Metal index (down 2.75%) and the Auto index (down 2.60%) underperformed the S&P BSE Sensex.

(Source: Capitaline Market Commentary)

Derivative Watch

(Source: Bloomberg) ● Nify April series futures witnessed an unwinding of short position build up. Open Interest has been Indian Markets decreased by 1469 contracts at the end of the day. ● Long position build up for the April series has been Indices Close Previous Change(%) witnessed in CIPLA. NIFTY 50 14549.40 14814.75 -1.79% S&P BSE SENSEX 49180.31 50051.44 -1.74% ● Short position build up for the April series has NIFTY MID100 23334.95 23808.40 -1.99% been witnessed in HDFCBANK, HDFC. NIFTY SML100 8065.80 8239.45 -2.11% ● Unwinding position for the April series has been (Source: NSE, BSE) witnessed in RELIANCE, BHARTIARTL, SBIN, ICICIBANK, INFY.

Sectoral Indices (Source: Capitaline F&O) Indices Close Previous Change(%) NIFTY BANK 33293.25 34184.40 -2.61% NIFTY AUTO 9925.25 10187.65 -2.58% NIFTY FMCG 33987.10 34473.75 -1.41% Corporate News NIFTY IT 25802.95 26105.70 -1.16% ● Larsen and Toubro said that L&T-built Ofshore Patrol NIFTY METAL 3717.55 3841.95 -3.24% Vessel ICGS Vajra was commissioned into the Indian NIFTY PHARMA 11916.30 11907.20 0.08% Coast Guard (ICG) by General Bipin Rawat, Chief of NIFTY REALTY 331.45 341.50 -2.94% Defence Staf, at Chennai on Wednesday in the august BSE CG 20867.23 21305.13 -2.06% presence of Director General K Natarajan, Director BSE CD 31779.06 32318.84 -1.67% General Indian Coast Guard, JD Patil, Whole Time BSE Oil & GAS 14934.56 15198.05 -1.73% Director (Defence & Smart Technologies) and Member of BSE POWER 2543.08 2567.58 -0.95% the L&T Board and other dignitaries.

(Source: NSE, BSE) ● Zydus Cadila has significantly reduced the price of its generic version of Remdesivir, which the company sells under the brand name 'Remdac', to Rs 899 for a 100 mg Asia Pacifc Markets vial. The company had launched Remdac in August 2020 at Rs 2,800 per 100 mg lyophilized injection in the Indices Close Previous Change (%) country. Nikkei225 28405.52 28995.92 -2.04% HangSeng 27918.14 28497.38 -2.03% ● Cadila Healthcare Limited and its subsidiary Zydus Straits Times 3133.31 3131.74 0.05% Pharmaceuticals has announced that they have reached Shanghai 3367.06 3411.51 -1.30% an agreement with Celgene Corporation, a wholly Kospi 2996.35 3004.74 -0.28% owned subsidiary of Bristol Myers Squibb relating to Jakarta 6156.14 6252.71 -1.54% patents for REVLIMID. Taiwan 16032.12 16177.59 -0.90% KLSE Composite 1602.40 1595.29 0.45% ● LupinLife, consumer healthcare business of global All Ordinaries 7013.90 6986.60 0.39% pharma major Lupin Limited, has announced its association with the Uttarakhand Police for Kumbh Mela (Source: Yahoo Finance) 2021.

● ICICI Bank customers can break their high value transactions of over Rs 50,000 into suitable EMIs directly Exchange Turnover (Crores) on its internet banking platform to make their purchases Market Current Previous more afordable. It will be applicable on transactions up NSE Cash 58300.68 62037.72 to Rs 5 lakh and will bear no additional cost on the NSE F&O 4442582.70 3698201.11 customers.

(Source: NSE) ● Tata Consultancy Services has launched the TCS Connected Consumer Home solution based on RDK, to enable media and communication service providers FII Activities (Crores) (CSPs) to ofer intuitive and exciting connected consumer experiences. ACTIVITIES Cash NET BUY - ● Hero MotoCorp has announced a price hike of up to NET SELL 1951.90 Rs2,500 across its products. The hike has been made to partially ofset the higher commodity costs impact. The (Source: NSE) company will make an upward revision in the ex-showroom prices of its motorcycles and scooters,

24.03.2021 Top Gainers with efect from April 1, 2021. SCRIP NAME Close Previous Change (%) ● Escorts Agri Machinery (EAM), a division of Escorts Ltd CIPLA 792.95 776.10 2.17% said it will increase tractor prices with efect from next ASIANPAINT 2443.55 2410.30 1.38% month. There has been a steady rise in commodity POWERGRID 221.05 219.00 0.94% prices necessitating a price hike to ofset the impact of the inflation. (Source: Moneycontrol) ● Ashok Leyland has decided to move towards sustainable transportation for its employees. The Top Losers Chennai-based firm said it will induct the electric buses in a phased manner, sourced from its subsidiary Switch SCRIP NAME Close Previous Change (%) Mobility Ltd, for transportation purposes. TATASTEEL 702.80 741.15 -5.17% ADANIPORTS 706.85 738.55 -4.29% ● ABB has reached a cumulative 5GW milestone in HINDALCO 317.75 331.70 -4.21% delivering solar plant automation solutions in India. TATAMOTORS 294.45 307.40 -4.21% "ABB has reached the cumulative 5-gigawatt (GW) mark M&M 811.40 844.65 -3.94% in providing Programmable Logic Controllerbased (PLC) solar plant automation solutions in India. (Source: Moneycontrol) ● Adani Enterprises announced that a wholly-owned ● Power Grid Corporation has established an e-Tendering subsidiary, Adani Road Transport (ATRL) has been Portal-PRANIT which will lead to less paperwork and ease of awarded one more Hybrid Annuity Mode (HAM) Road operation, making the tendering process more transparent. Project from the National Highways Authority of India ● Adani Green Energy has entered into an agreement with (NHAI). Sterling & Wilson Private, a privately held company of the ● Thomas Cook India Limited and its Group Company, Shapoorji Pallonji Group, to acquire the latter's 100% stake SOTC Travel Ltd., announced the launch of a range of in two special purpose vehicles that own 75 mw operating exclusive ofers in association with GoAir: Full Holiday at solar projects at Telangana for an enterprise value of Half the Price, Companion Holidays Free, up to 20% of approximately Rs 446 crore. on Flights; also free cancellation available.

● Vakrangee announced that the Reserve Bank of India (RBI) ● Vascon Engineers has emerged as the lowest bidder for has provided the Renewal of Authorization to the company two projects of the Uttar Pradesh Public Works for White Label ATMs (WLA). The central bank has extended Department. These two projects are: Establishment of the validity of the Authorization issued to Vakrangee to set New Medical College attached with existing District up, own and operate WLA in India. The validity has been Hospital, Bijnor amounting to Rs246.09cr. Establishment extended till March 31, 2022. of New Medical College attached with existing District ● Emami announced that the company has subscribed about Hospital, Kaushambi amounting to Rs269.54cr. 5 lakh Compulsorily Convertible Preference Shares (CCPS) (Source: Business Standard, Economic Times, Smart investor) of Brillare Science.

24.03.2021 Global News

● U.S. current account gap widened 4.2% to $188.5 billion in the fourth quarter, the highest since the second quarter of 2007.

● U.S. new home sales plummeted by 18.2% to an annual rate of 775,000 in February afer jumping by 3.2% to an upwardly revised rate of 948,000 in January.

● U.K. consumer price inflation eased to 0.4% in February from 0.7% in January. Month-on-month, consumer prices edged up 0.1%, in contrast to January's 0.2% fall. Core inflation eased to 0.9% in February from 1.4% in January.

● U.K. output prices increased for the second month in a row, the annual rate came in at 0.9% versus +0.1% in January. Month-on-month, output prices grew 0.6%, faster than the 0.8% rise in January. Input price inflation accelerated to 2.6%. On month, prices grew 0.6% afer climbing 1% a month ago.

● U.K. house price inflation eased to 7.5% in January from 8% in December. On a monthly basis, house prices decreased 0.5% versus a 0.1% rise in the same period a year ago.

● U.K. IHS Markit/CIPS composite output index rose to 56.6 in March from 49.6 in the previous month. The services PMI surged to 56.8 from 49.5 in February. The manufacturing PMI improved to 57.9 from 55.1 in the previous month.

● Eurozone IHS Markit composite output index rose to an eight-month high of 52.5 in March from 48.8 in February. The manufacturing PMI reached a record 62.4 from 57.9 in the prior month. Although the services PMI advanced to a seven-month high of 48.8 from 45.7 in February.

● Germany's IHS Markit flash composite output index rose to 56.8 in March from 51.1 in February. The services PMI came in at 50.8 versus 45.7 in the prior month. The manufacturing PMI advanced to 66.6 from 60.7.

● France's IHS Markit composite output index increased to 49.5 in March from 47.0 in February. The services PMI came in at 47.8 versus 45.6 in the prior month and the forecast of 45.5. The manufacturing PMI climbed to a 39-month high of 58.8 in March, up from 56.1 a month ago.

● Japan's Jibun Bank manufacturing sector continued to expand in March, with a manufacturing PMI score of 52.0. That's up from 51.4 in February. Services PMI came in at 46.5, up from 45.8 in February, while the composite index had a score of 48.3 - up from 48.2 in the previous month.

(Source: Market Watch, RTT News, Reuters, Bloomberg)

Economic News

● Crude Oil traded at US$ 60.46/bbl (IST 17:00).

● INR weakened to Rs. 72.56 from Rs. 72.42 against each US$ resulting in daily change of 0.19%.

● The State Bank of India said Gross State Domestic Product (GSDP) numbers of states for FY21 might fall 7% if the numbers

24.03.2021 follow the government's estimates of an 8% contraction in FY21 Gross Domestic Product.

● NITI Aayog has evaluated 28 umbrella centrally sponsored schemes to assess continuatio of these schemes in the 15th Finance Commission cycle, planning minister Rao Inderjit Singh said in Lok Sabha.

● India’s government is considering resuming fresh bankruptcy filings afer the current suspension expires on March 25.

● As India's export of commodities like sugar to Iran has been hit due to Tehran's rupee reserves shortage with Indian banks, the government on Wednesday said the two nations are negotiating for the use of other currencies for bilateral trade and is hopeful of resolving the matter by next month.

● Niti Aayog has decided to empanel transaction advisor for monetisation of assets and carry forward the process of disinvestment of public sector enterprises. In this connection, the government think-tank Niti Aayog has floated request for proposals (RFP) from eligible entities.

● The government has collected Rs 30,369 crore as dividend from Central Public Sector Enterprises (CPSEs) so far in the current fiscal, according to a senior oficial. In the revised budget estimate, the government significantly lowered the dividend receipt from the CPSEs to Rs 34,717.25 crore from Rs 65,746.96 crore estimated earlier for this financial year.

(Source: Economic Times, Business Standard)

Forthcoming Events

Board Meetings as on 25/03/2021

CG Power and Industrial Solutions Limited Other business matters Edelweiss Financial Services Limited Dividend SBI Life Insurance Company Limited Dividend Shriram Transport Finance Company Limited Dividend

(Source: NSE)

Corporate Actions as on 25/03/2021

Bharat Petroleum Corporation Limited Interim Dividend - Rs 5 Per Share Housing & Urban Development Corporation Limited Interim Dividend - Rs 0.75 Per Share The United Nilgiri Tea Estates Company Limited Interim Dividend - Re 1 Per Share

(Source: NSE)

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24.03.2021