[I] Stocks to Watch: , Dr Reddy's, IOC, L&T,

Wednesday, May 19, 2021 - Morning brief for the stock market:

TOP EVENTS TODAY

* Nifty 50 companies detailing Jan-Mar earnings: + INDIAN OIL CORP, (Net profit seen 39.05 bln rupees vs 51.85 bln rupees loss a year ago)

* Jan-Mar earnings to be detailed by: Angel Fibers, Clariant Chemicals India, Endurance Technologies, Gravita India, Heritage Foods, Housing Finance, Indo Rama Synthetics India, Ineos Styrolution India, JK Tyre and Industries, Kaya Ltd, Man Infraconstruction, Mangal Credit and Fincorp, MAS Financial Services, Morarjee Textiles, Niyogin Fintech, Prism Johnson, R.S. Software (India), Rane Engine Valve, Redex Protech, Shriram Asset Management Co, SML Isuzu, Tanla Platforms, TCI Express, TD Power Systems, Vishnu Chemicals, Zuari Agro Chemicals

* Board Meetings of: + Endurance Technologies, to consider dividend + Heritage Foods, to consider dividend + Indiabulls Housing Finance, to consider dividend

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+ Indian Oil Corp, to consider dividend + Ineos Styrolution India, to consider dividend + JK Tyre and Industries, to consider dividend + Mangal Credit and Fincorp, to consider dividend + Shriram EPC, to consider issuance and allotment of shares + Tanla Platforms, to consider dividend and Employees Stock Option Plan + TCI Express, to consider dividend + TD Power Systems, to consider dividend + Vishnu Chemicals, to consider dividend

INDICATORS (previous session) * NSE provisional net buy/(sell) in bln rupees, May 18: FIIs 6.18, DIIs 4.50 * Institutional net buy/(sell) in bln rupees, May 17: FIIs (13.57) * FII NSE futures net buy/(sell) in bln rupee, May 18: index 30.76, stock (9.57) * Sensex: 50193.33, up 612.60 points; Nifty 50: 15108.10, up 184.95 points * Crude: $65.50/bbl; Rupee: 73.0450/$1; Gold: $1,868.0/ounce; 10-year yield: 5.9766%

GLOBAL MARKETS * Benchmark indices finished lower for the second straight session on Tuesday as worries around building inflationary pressures saw investors booking profits in economically-sensitive sectors such as banks, capital goods, and energy companies.

* Equities retreated, tracking the losses in US market. Markets in South Korea and Hong Kong were closed for public holidays.

DOMESTIC OUTLOOK * Weakness in global equities is likely to play spoilsport and see benchmark indices snapping their two-session gaining streak today. But given that the dollar index is still hovering around its three-month low suggests foreign fund inflows could continue, which may limit the downside.

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EARNINGS for JAN-MAR ======

* ASTRAL POLY TECHNIK (Consol PAT 1.75 bln rupees, up 241.68% YoY Consol net revenue 11.28 bln rupees, up 79.33% YoY)

* BRIGADE ENTERPRISES (Consol PAT 395.7 mln rupees, up manifold YoY Consol net revenue 7.91 bln rupees, up 24.42% YoY)

* GLAXOSMITHKLINE PHARMACEUTICALS (Consol PAT 143.3 mln rupees, down 89.62% YoY Consol net revenue 8.14 bln rupees, up 4.89% YoY)

* GUJARAT ALKALIES & CHEMICALS (Consol PAT 346.6 mln rupees, up 204.04% YoY Consol net revenue 6.71 bln rupees, up 8.01% YoY)

* JINDAL STAINLESS HISAR (Consol PAT 3.50 bln rupees, up 232.4% YoY Consol net revenue 31.03 bln rupees, up 38.14% YoY)

* MINDA CORP (Consol PAT 129.2 mln rupees vs 3 bln rupees loss Consol net revenue 7.94 bln rupees, up 48.05% YoY)

* ROUTE MOBILE (Consol PAT 353.69 mln rupees, up 161.78% YoY Consol net revenue 3.62 bln rupees, up 36.38% YoY)

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* TATA MOTORS (Consol Loss 76.05 bln rupees vs 98.94 bln rupees loss Consol net revenue 886.28 bln rupees, up 41.82% YoY)

* (Consol PAT 3.24 bln rupees, up 3.18% YoY Consol net revenue 19.37 bln rupees, down 0.46% YoY)

* UJJIVAN SMALL FINANCE BANK (PAT 1.36 bln rupees, up 86.59% YoY NII 3.68 bln rupees, down 21.11% YoY)

SECTOR NEWS ======* AVIATION: Flight bookings by major airlines such as IndiGo and SPICEJET declined 50% between January and April, as the second wave of the COVID-19 pandemic significantly disrupted air travel, data provided by online travel company Cleartrip showed.

Domestic air passenger traffic in April stood at 5.73 mln, as per data from the Directorate General of Civil Aviation. A year-on-year comparison is not possible as domestic civil aviation flights were suspended in the same month last year, when the country went into a nationwide lockdown to stem the spread of COVID-19 pandemic.

* COAL: The government has extended the deadline for submitting bids in the second tranche of commercial auction to Jun 24 from May 27. This will enable interested parties to travel to mine locations for inspection once lockdown restrictions are eased across states.

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* COMMODITY: As of Monday, the government had provided nearly 3.2 mln tn grain to beneficiaries of Pradhan Mantri Garib Kalyan Anna Yojana.

A task force on sugarcane and sugar industry constituted by the NITI Aayog has once again recommended raising the minimum selling price of sugar by 2 rupees per kg to help mills make timely cane payments to farmers, a senior government official confirmed.

The government paid farmers nearly 737.7 bln rupees in 2021-22 (Apr-Mar) rabi marketing season for procuring wheat at the minimum support price as of Monday.

* ECONOMY: The Reserve could manage a higher-than-expected dividend of around 1 trln rupees to the government for 2020-21 (Jul-Mar), on the back of recognition of foreign currency revaluation gains, as per Ananth Narayan, senior India analyst at the Observatory Group LLC.

* FINANCE: The National Housing Bank has extended the timelines for submission of returns by housing finance companies to its supervision department amid the ongoing second wave of the COVID-19 pandemic.

* HEALTHCARE: Serum Institute of India continues to scale up manufacturing of COVID-19 vaccines and is prioritising inoculations in the country, the company said in a statement posted on Twitter.

STOCKS ======* AARTI INDUSTRIES: The board has approved raising up to 15 bln rupees through issue of shares or any other instrument or security. It also approved issuance of one bonus share for every one share held.

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* ADANI PORTS AND SPECIAL ECONOMIC ZONE: The Competition Commission of India has approved the company's proposal to acquire the remaining 25% stake in Adani Krishnapatnam Port from Vishwa Samudra Holdings.

* : The government will look to dilute at least 1.21% stake in the bank held through Specified Undertaking of the Unit Trust of India this week.

* : The company expects to be profitable on a standalone basis in the current financial year, Chief Executive Officer Gopal Vittal said.

Amid the second wave of COVID-19, the company is seeing some softening of demand with migrants returning home, leading to consolidation of SIMs as well as reduced acquisition of new customers as most physical stores are closed. (FE)

* CHALET HOTELS: Will raise 1 bln rupees through issue of zero coupon non- cumulative, non-convertible, redeemable preference shares of 100,000 rupees each on a private placement basis.

* CHOLAMANDALAM INVESTMENT AND FINANCE CO: Has raised 5 bln rupees through bonds maturing on May 11, 2023, at a coupon of 5.70%, sources said.

* : Will install 25 medical oxygen plants in 22 hospitals, 20 of which will together produce 12,700 ltr of oxygen per minute. Four other plants will together generate 750 cubic mtr per hour and one will be a refilling plant. (FE)

* CONTAINER CORP OF INDIA: Has extended the 50% tariff discount on movement of empty containers from ports to various inland depots and freight terminals for the entire 2021-22 (Apr-Mar).

* DEN NETWORKS: Broad Street Investments (Singapore) Pte, MBD Bridge Street 2016 Investments (Singapore) Pte and MBD Bridge Street 2013

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Investments (Singapore) Pte have sold 10.27 mln shares, representing 2.15% stake in the company via the open market on Friday.

* DR REDDY'S LABORATORIES: The government will evaluate the anti-COVID drug 2-deoxy-D-glucose, or 2-DG, developed by the Defence Research and Development Organisation and the company, to decide on its inclusion in the national COVID-19 treatment protocol.

* GEECEE VENTURES: Has emerged as the highest bidder for plot 1D in sector 27 of Kharghar Node. The auction was conducted by City and Industrial Development Corporation of Maharashtra.

* : Has cut the prices of its aluminium ingots, billets, and wire rods by 1,500 rupees per tn, or around 1%, with effect from Wednesday. This price cut comes after the company hiked prices six times in a row.

* INDIAN RAILWAY CATERING AND TOURISM CORP: Saw rail bookings slump to 500,000 tickets per day, falling by almost 45% after March, as the pandemic's second wave disrupted travel across the country.

* : The company and MAJESCO, an information technology company that makes cloud insurance software solutions for business transformation, jointly announced a strategic collaboration.

* INTERGLOBE AVIATION: IndiGo held on to the top spot at 53.9% market share in April, up from 53.5% in March. Its passenger load factor fell to 58.7% in April from 66.4% in March.

* JSW ENERGY: Wholly-owned subsidiary JSW Hydro Energy has raised $707 mln through dollar-denominated senior secured notes.

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* LARSEN & TOUBRO: Wholly-owned subsidiary Larsen & Toubro International FZE has signed an agreement to buy 6.35% stake in Delaware-based Help Lightning Inc for $2.5 mln.

* LIC HOUSING FINANCE: Has set a coupon of 6.01% on its bonds maturing on May 19, 2026, and accepted bids aggregating up to 5.5 bln rupees, sources said.

* MACROTECH DEVELOPERS: Is expecting a 50% jump in sales bookings this fiscal year to over 90 bln rupees as it remains bullish on demand for housing and warehousing properties despite the COVID-19 pandemic. (PTI)

* MAHINDRA EPC IRRIGATION: Has partially commenced operations at Nashik plant from Monday with limited, essential manpower, and is adhering to all mandated safety norms and meeting operational requirements in compliance with the government guidelines.

* MAJESCO: Rajasthan Global Securities has bought 157,954 shares, representing nearly 0.6% stake, in the company in a bulk deal on the National Stock Exchange.

* INDIA: Has partnered with Zydus Hospitals to start a multi- speciality hospital at Sitapur in Ahmedabad district of Gujarat.

* : Announced the setting up of new centres in Mexico, Costa Rica and Taiwan, where it would create about 800 jobs in six months. (PTI)

* PARAG MILK FOODS: Board has approved allotment of non-convertible debentures, aggregating 1.5 bln rupees, to the International Finance Corp.

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* SPICEJET: Came a distant second with a market share of 12.3% in April, down from 12.8% in March. It reported the highest load factor among airlines in April at 70.8%, but was lower than 76.5% in March.

* SUN PHARMACEUTICAL INDUSTRIES: Life Insurance Corp of India has acquired 48.37 mln shares or 2% stake in the company through market purchase between Jun 23, 2017, and May 17.

* TATA MOTORS: The problem of semiconductor shortage that the auto industry is faced with is of its own making, according to P.B. Balaji, chief financial officer, of the company.

The company's passenger vehicle business will operate as a subsidiary from Oct 1, with the final approval expected from the National Company Law Tribunal, Chief Financial Officer P.B. Balaji said.

Has received letter of award from Convergence Energy Services, a wholly- owned subsidiary of Energy Efficiency Services, to supply 300 electric cars.

* VEDANTA: Has cut the prices of aluminium ingots by 7,250 rupees per tn, or by more than 3%, with effect from Thursday. This price cut follows six consecutive price hikes by the company.

* : Announced offers for its 60-mln-odd low-income customers to help them stay connected during the ongoing second wave of the COVID-19 pandemic. It will offer its 49-rupee pack for free, which includes a talktime of 38 rupees and 100 MB data with a validity of 28 days.

* : Following the transition to a new operating model, Opus Capital Markets Consultants, LLC has been renamed to Wipro Opus Risk Solutions LLC.

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* : The Competition Commission of India has approved the acquisition of YES Asset Management (India) and YES Trustee by GPL Finance and Investments.

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