[I] Stocks to Watch: , Divi's Labs, Glenmark, NCC,

Monday, May 31, 2021 - Morning brief for the stock market:

BIG PICTURE * Skymet says southwest monsoon hits Kerala, IMD sees onset on Jun 3 TOP EVENTS TODAY * Jan-Mar earnings to be detailed by: Abhinav Capital Services, Ace Men Engg Works, Allied Digital Services, Apar Industries, Apm Industries, Asian Granito , Astron Paper & Board Mill, , Bannari Amman Spinning Mills, Blue Coast Hotels, Chaman Lal Setia Exports, Chemcon Speciality Chemicals, Devhari Exports India, Flomic Global Logistics, Gallops Enterprise, Ganesh Housing Corp, High Energy Batteries India, Honeywell Automation India, Hypersoft Technologies, Iel, Inani Securities, India Radiators, Inertia Steel, Ingersoll Rand India, Insilco, Ishan Dyes & Chemicals, Jamna Auto Industries, Jbf Industries, Jindal Photo, Karda Constructions, Kbs India, Khyati Multimedia Entertainment, Kkalpana Industries India, Kolte Patil Developers, Lasa Supergenerics, Lloyds Steels Industries, Maan Aluminium, Mafatlal Finance Co, Magma Fincorp, Mahalaxmi Rubtech, Man Industries India, Manomay Tex India, Marksans Pharma, Modison Metals, Nahar Capital And Financial Services, Nahar Industrial Enterprises, Nahar Poly Films, Nahar Spinning Mills, Narayana

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Hrudayalaya, Natural Capsules, Nelcast, Nihar Info Global, Nivi Trading, Panama Petrochem, Panchmahal Steel, Patidar Buildcon, Pcs Technology, Prakash Industries, Prashant India, Riddhi Siddhi Gluco Biols, Rupa & Co, Sakar Healthcare, Shilpa Medicare, Shree Hari Chemicals Export, Shree Krishna Infrastructure, Shri Dinesh Mills, Simplex Realty, Snl Bearings, Stellant Securities India, Sukhjit Starch & Chemicals, Til, Tourism Finance Corp Of India, Trf, Unick Fix- A-Form And Printers, Urja Global, Uttam Galva Steels, Vascon Engineers, Venus Remedies, Websol Energy System, Wires & Fabriks (Sa), Xchanging Solutions.

* Board Meetings of: + Apar Industries, to consider dividend + Archit Organosys, to consider and approve issue and allotment of equity shares + Asian Granito India, to consider dividend + Bannari Amman Spinning Mills, to consider dividend + Chaman Lal Setia Exports, to consider dividend + Dugar Housing Developments, to consider reduction of capital. + Gallops Enterprise, to consider dividend + High Energy Batteries India, to consider dividend + Honeywell Automation India, to consider dividend + Ingersoll Rand India, to consider dividend + Jamna Auto Industries, to consider dividend + Kapil Raj Finance, to consider increase in authorised capital. + Karda Constructions, to consider dividend and Stock Split + Kkalpana Industries India, to consider dividend + Magma Fincorp, to consider dividend. + Man Industries India, to consider dividend + Marksans Pharma, to consider dividend + Nahar Capital And Financial Services, to consider dividend + Nahar Poly Films, to consider dividend + Nahar Spinning Mills, to consider dividend + Natural Capsules, to consider dividend, right issue of equity shares and increase in authorised capital. + Nelcast, to consider dividend + Panama Petrochem, to consider dividend.

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+ Riddhi Siddhi Gluco Biols, to consider dividend + Rupa & Co, to consider dividend + Shree Hari Chemicals Export, to consider dividend + Shri Dinesh Mills, to consider dividend + Simplex Realty, to consider Consolidation of Shares. + Snl Bearings, to consider dividend + Sukhjit Starch & Chemicals, to consider dividend + Tourism Finance Corp Of India, to consider dividend + Wires & Fabriks (Sa), to consider dividend

* Annual General Meetings of: Enkei Wheels (India)

INDICATORS (previous session) * NSE provisional net buy/(sell) in bln rupees, May 28: FIIs 9.14, DIIs 12.75 * Institutional net buy/(sell) in bln rupees, May 27: FIIs 0.45, MFs xxx * FII NSE futures net buy/(sell) in bln rupee, May 28: index 4.37, stock (9.75) * Sensex: 51422.88, up 307.66 points; Nifty 50: 15435.65, up 97.80 points * Crude: $66.32/bbl; Rupee: 72.44/$1; Gold: $1905.3/ounce; 10- year yield: 6.0035%

WEEKLY SECTOR OUTLOOK * AUTOMOBILE: Wholesale auto sales for May, mgmt comments eyed * BANKS: Seen up next wk amid caution before MPC outcome * CAPITAL GOODS: Focus on easing of COVID curbs this week * CEMENT: Seen up this week on likely easing of lockdowns * FMCG: May fall as demand seen weak on 2nd COVID wave * IT: Seen continuing positive momentum this week * METALS: To trade with a positive bias this week * OIL: May consolidate, crude price to aid upstream cos * PHARMACEUTICALS: May continue to underperform market this week * TELECOM: Stock-specific movement likely this week

GLOBAL MARKETS * US : Benchmark indices in the US ended slightly higher on

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Friday on growing optimism over economic recovery in the country. * Asia : Most Asian equities fell today as concerns over inflation risks hitting economic recovery dampened investors' risk appetite.

DOMESTIC OUTLOOK * Benchmark indices may take a breather today as weakness in Asian equities and extension of lockdown-like curbs in some states in India are likely to weigh on investor sentiment at open.

IPO WATCH ======* Paytm has received in-principle approval from the company's board to raise around 220 bln rupees through an initial public offer during the Oct-Dec quarter this year, sources said. (PTI)

EARNINGS for Jan-Mar ======* ADVANCED ENZYME TECHNOLOGIES (Consol PAT 316.76 mln rupees, up 1.10% YoY Consol revenue 1.33 bln rupees, up 20.82% YoY)

* AFFLE INDIA (Consol PAT 585.09 mln rupees, up 282.69% YoY Consol revenue 1.42 bln rupees, up 76.91% YoY)

* BANK OF BARODA (Loss 10.47 bln rupees vs 5.07 bln rupees PAT NII 71.07 bln rupees, up 4.54% YoY)

* (PAT 1.11 bln rupees vs 952.92 mln rupees loss NII 4.29 bln rupees, up 2% YoY)

* DEEPAK FERTILISERS & PETROCHEMICALS CORPORATION (Consol PAT 1.13 bln rupees, up 405.53% YoY Consol revenue 15.75 bln rupees, up 21.82% YoY)

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* DIVI'S LABORATORIES (PAT 4.88 bln rupees, up 24.54% YoY Revenue 17.18 bln rupees, up 24.86% YoY)

* DILIP BUILDCON (Consol PAT 1.24 bln rupees, down 25.85% YoY Consol revenue 31.35 bln rupees, up 14.87% YoY)

* FORCE MOTORS (Consol loss 536.7 mln rupees vs 60.6 mln rupees PAT Consol net revenue 6.13 bln rupees, down 6.31% YoY)

* GLENMARK PHARMACEUTICALS (Consol PAT 2.34 bln rupees, up 6.16% YoY Consol revenue 28.60 bln rupees, up 3.34% YoY)

* GULF OIL LUBRICANTS INDIA (PAT 597.85 mln rupees, up 66.33% YoY Revenue 5.17 bln rupees, up 43.86% YoY)

* GMM PFAUDLER (Consol PAT 41.51 mln rupees, down 64.21% YoY Consol revenue 4.59 bln rupees, up 248.01% YoY)

* HEIDELBERGCEMENT INDIA (PAT 1.4 bln rupees, up 111.18% YoY Revenue 6 bln rupees, up 17.69% YoY)

* (PAT 17.09 bln rupees, vs 2.18 bln rupees loss NII 33.34 bln rupees, up 1% YoY)

* JAGRAN PRAKASHAN (Consol PAT 376.19 mln rupees, up 235.43% YoY Consol net revenue 4.06 bln rupees, down 8.79% YoY)

* KARUR VYSYA BANK (PAT 1.04 bln rupees, up 24.7% YoY NII 6.13 bln rupees, up 3.75% YoY)

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* KAVERI SEED CO (Consol loss 173.68 mln rupees vs 75.73 mln rupees PAT Consol revenue 642.53 mln rupees, up 1.79% YoY)

* MAX HEALTHCARE INSTITUTE (Consol PAT 696.9 mln rupees, up 31.1% YoY Consol revenue 8.02 bln rupees, up 223.5% YoY)

* NCC (Consol PAT 1.17 bln rupees, up 54.09% YoY Consol revenue 28.17 bln rupees, up 20.66% YoY)

* REC (Consol PAT 20.78 bln rupees, up 338.37% YoY Consol revenue 92.11 bln rupees, up 19.27% YoY)

* SUNDARAM FINANCE (Consol PAT 2.71 bln rupees, up 38.26% YoY Consol revenue 12.85 bln rupees, down 2.67% YoY)

* SUDARSHAN CHEMICAL INDUSTRIES (Consol PAT 534.21 mln rupees, up 95.64% YoY Consol revenue 5.77 bln rupees, up 28.37% YoY)

* SUMITOMO CHEMICAL INDIA (Consol PAT 540.98 mln rupees, up 136.17% YoY Consol revenue 5.34 bln rupees, up 19.60% YoY)

* UJJIVAN FINANCIAL SERVICES (Consol PAT 700.55 mln rupees, up 9.4% YoY Consol revenue 7.17 bln rupees, down 8.88% YoY)

* V-MART RETAIL (Loss 14.75 mln rupees vs 84.35 mln rupees Revenue 3.52 bln rupees, up 5.77% YoY)

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SECTOR NEWS ======* AVIATION: India has extended the suspension of international passenger flights until Jun 30.

The Ministry of Civil Aviation has increased the lower cap on domestic airfares by 13-16% to enable airlines address the increase in cost of operations. (PTI)

* BANKING: The resolution framework of the Reserve to restructure loans of individuals, and micro, small and medium enterprises hit by the second wave of COVID-19 pandemic will take care of 80% of borrowers, according to Sunil Mehta, chief executive officer, Indian Banks' Association.

Banks are looking to exhaust the remaining amount of 450 bln rupees of the Emergency Credit Line Guarantee Scheme by lending under the expanded version of the plan, which was announced by the government, said Indian Banks' Associations Chief Executive Officer Sunil Mehta.

* ECONOMY: Prime Minister Narendra Modi has announced financial assistance of 10 bln rupees for immediate relief activities in areas affected by Cyclone Yaas in Odisha, West Bengal and Jharkhand.

The Goods and Services Tax Council today decided to exempt specified imported COVID-19-related relief items for donation to the government or to any relief agency from Integrated Goods and Services Tax till Aug 31.

Finance Minister Nirmala Sitharaman said the government has not yet taken a final decision on providing relief to sectors affected worst by the second wave of COVID-19 pandemic.

The Centre has been consolidating power at the expense of state government and the introduction of goods and services tax has accentuated it, according to Tamil Nadu Finance Minister P. Thiaga Rajan.

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The government has further enlarged the scope of the Emergency Credit Line Guarantee Scheme on account of disruptions caused by the second wave of the COVID-19 pandemic.

* HEALTHCARE: Phone booking of slots for COVID-19 vaccination has opened from Saturday, said National Health Authority Chief Executive Officer R.S. Sharma.

Hyderabad-based public sector company Indian Immunologicals will start production of drug substance to be used for Bharat Biotech International's vaccine from June.

The government has decided to discontinue the central allocation of Remdesivir, the anti-viral drug used to treat COVID-19 patients, to states.

The timeline for manufacturing, testing and releasing a batch of Covaxin is about 120 days, depending on the technology framework and regulatory guidelines that need to be met, Bharat Biotech International said in a statement today. Thus, the batches of Covaxin, one of the three COVID-19 shots approved in India, which were produced during March will be ready for supply only in the month of June.

* REAL ESTATE: The Centre will look into various demands of the real estate industry to revive demand and supply as it struggles to deal with the fallout of COVID-19, Housing and Urban Affairs Secretary Durga Shanker Mishra said.

* REGULATORY: and HDFC Bank have moved the Supreme Court and sought a stay on the Reserve Bank of India's directive to banks to provide financially-sensitive data under the Right to Information Act. (TOI)

* TAXATION: Following the Goods and Services Tax Council's 43rd meeting on Friday, the council constituted a group of ministers' panel to examine the issue of GST concession or exemption for COVID-19 relief material. The panel will submit its report by Jun 8.

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* TELECOMMUNICATION: The Department of Telecommunications has given its approval to telecom companies to start fifth- generation spectrum trials, paving the way to bring the new technology to telecom subscribers in India.

STOCKS ======* ADANI PORTS AND SPECIAL ECONOMIC ZONE: Looking to buy Karaikal port in Puducherry at a valuation of 1 5-20 bln rupees, but multiple sources said that the deal is “not easy” to consummate given the ownership structure and the debt. (BL)

* ADVANCED ENZYME TECHNOLOGIES: The board has approved the acquisition of an additional 15% stake in JC Biotech from the latter's existing shareholders for 211.25 mln rupees.

* ANGEL BROKING: As part of its goal to become a financial technology company, the board has approved the rebranding of its existing brand 'Angle Broking' with the masterbrand 'Angel One' to make it more appealing to a younger customer base, the company said.

* : Has received final approval from the US Food and Drug Administration to market fluphenazine hydrochloride tablets, which is a generic version of Prolixin tablets in 1-mg, 2.5-mg, 5-mg, and 10-mg strengths.

* DILIP BUILDCON: Looking to monetise select hybrid-annuity model road projects and raise 20 bln rupees by 2022-23 (Apr- Mar).

* DR REDDYS LABORATORIES: The company's cold storage logistics are ready for the launch of its version of COVID-19 vaccine Sputnik V in India in June.

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* HDFC BANK: The Reserve Bank of India has imposed a penalty of 100 mln rupees on HDFC Bank for violation of norms pertaining to automobile loans.

* MAHINDRA & MAHINDRA: Has lined-up capital expenditure of 90 bln rupees in the automobile segment, which includes a fresh investment of 30 bln rupees for electric vehicles, for the next three years. It will also invest 30 bln rupees in farm equipment segment over 2022-24 (Apr-Mar).

Sees the tractor industry grow in low single digits in 2021-22 (Apr-Mar) as it expects sales in the segment to rebound from June. The industry had witnessed a growth of over 20% in 2020- 21.

* MCLEOD RUSSEL INDIA: Manju Gaggar has sold 774,724 shares or 0.74% stake in the company at 31.15 rupees a share through a bulk deal on the National Stock Exchange.

* NBCC INDIA: Majority of the committee of creditors of Jaypee Infratech have voted in favour of allowing seven days to state-run the company and the consortium led by Suraksha Realty to submit their revised resolution bids to acquire the bankrupt real estate developer.

* THE PHOENIX MILLS: The company and Canada Pension Plan Investment Board announced the execution of definitive documents for a new joint venture to develop a regional retail centre in Alipore, Kolkata.

Looking for more acquisition opportunities under its potential joint venture platform with Singapore's sovereign wealth fund GIC, said Shishir Shrivastava, managing director of the mall developer.

* : Intends to sell its stake in associate company Canara HSBC OBC Life Insurance Co.

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* STATE BANK OF INDIA: Has bought 437,498 shares, representing 1.63% stake, in Paisalo Digital at 570 rupees a share through a bulk deal on the National Stock Exchange.

* UCO BANK: The bank has allotted 2.04 bln shares of face value 10 rupees each to the government at an issue price of 12.76 rupees per share, against capital contribution.

* WIPRO: Sold entire stake in Ensono Holdings for $76.24 mln.

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