Institutional Equity Research NIFTY 14565 IN FOCUS January 14, 2021 Support 14449 Stock in Focus India MARKET LENS 14334 Intraday Pic BERGEPAINT Resistance 14667 Intraday Pick HINDPETRO 14769 Intraday Pick MCDOWELL

EQUITY INDICES

Indices Absolute Change Percentage Change Domestic Last Trade Change 1-D 1-Mth YTD BSE Sensex 49,492 (25) (0.1%) 7.0% 3.7% CNX Nifty 14,565 1 0.0% 7.4% 4.2% S&P CNX 600 12,041 (17) (0.1%) 7.3% 4.5% SENSEX 60 15,250 2 0.0% 7.4% 4.2%

International Last Trade Change 1-D 1-Mth YTD DJIA 31,060 (8) (0.0%) 2.9% 1.5% NASDAQ 13,129 57 0.4% 4.2% 1.9% NIKKEI 28,802 345 1.3% 8.0% 5.0% HANGSENG 28,316 80 0.3% 8.1% 4.0%

ADRs / GDRs Last Trade Change 1-D 1-Mth YTD Dr. Reddy’s Lab (ADR) 71.8 (0.3) (0.4%) 4.8% 0.7% (ADR) 16.3 (0.3) (1.7%) 31.9% 29.1% STOCK IN FOCUS (ADR) 18.4 (0.2) (0.9%) 18.1% 8.7% f Castrol India (CSTRL IN) - Increase in passenger vehicle sales & ICICI Bank (ADR) 15.3 0.1 0.5% 6.6% 2.8% industrial production, India’s lubricant and grease consumption HDFC Bank (ADR) 75.7 0.9 1.1% 10.0% 4.7% increased by 14%/8% YoY in Oct’20/Nov’20. We expect in 3QFY21, (GDR) 46.2 0.2 0.3% 10.7% 9.2% Reliance Ind (GDR) 52.6 (0.2) (0.4%) (3.5%) (3.8%) Castrol’s sales volume to grow by 6% YoY and 21% QoQ to 57mn

litre led by a revival in auto sales volume and healthy replacement COMMODITY MARKET demand. However, higher crude prices led to a 17% QoQ rise in Key Commodities Last Trade Change 1-D 1-Mth YTD base oil prices. The major catalyst for Castrol’s Volume growth is its Brent Crude ($/bl) 56.0 (0.1) (0.1%) 10.3% 8.1% partnership with RIL, which is likely to add ~19Mn Lt/annum to sales, Silver ($/Oz) 25.4 25.4 1000.0% 3.2% (3.8%) overall sales are expected to clock 2.5% CAGR over CY19-CY22E. Gold ($/Oz) 1,847.2 1,847.2 1000.0% (0.4%) (2.5%) Copper LME ($/MT) 3.6 0.0 0.2% 2.1% 2.8% f Traditionally Castrol is high dividend Payout Company, strong Aluminium LME ($/MT) 2,015.5 1.8 0.1% (0.5%) 1.8% operating cash flow and reduction in DDT to further augment dividend payout. No adverse impact of electric vehicles, conventional CURRENCY RATES fuel to stay relevant in medium-term, base oil market dynamics to Last Trade Change 1-D 1-Mth YTD remain unchanged and foray into car care market in partnership USD/INR 73.3 (0.08) (0.1%) (0.5%) 0.0% with 3M India are the key medium-term catalyst for the stock. EUR/INR 89.3 0.11 0.1% (0.3%) (0.8%)

Castrol’s valuation is inexpensive compared to FMCG majors RATES thereby recommending buy with a 2-Year target price of Rs.169. Last Trade Change 1-D 1-Mth YTD T-Bill - 91 D 3.3 (0.01) 0.00 0.05 0.07 Intraday Picks 10 Year G-sec Yield 5.9 0.02 0.00 0.00 0.01

BERGEPAINT (PREVIOUS CLOSE: 798) SELL INVESTMENT ACTIVITY (RS. CR) For today’s trade, short position can be initiated in the range of Rs 808- Category BUY SELL NET Prev 816 for the target of Rs.785 with a strict stop loss of Rs.824. FII 10,263.6 8,384.5 1,879.1 571.5 DII 5,777.2 8,147.4 (2,370.2) (1,334.5) HINDPETRO (PREVIOUS CLOSE: 227) BUY For today’s trade, long position can be initiated in the range of Rs.222- EXCHANGE TURNOVER 224 for the target of Rs.235 with a strict stop loss of Rs 219. Exchange Rs Crore BSE Equity 8,236.9 MCDOWELL (PREVIOUS CLOSE: 639) BUY BSE Derivatives 2,06,930.1 For today’s trade, long position can be initiated in the range of Rs.632- NSE Equity 85,508.5 635 for the target of Rs.649 with a strict stop loss of Rs 628. NSE Derivatives 25,88,858.2 1 Institutional Equity Research NIFTY 14565 IN FOCUS January 14, 2021 Support 14449 Stock in Focus Castrol India MARKET LENS 14334 Intraday Pic BERGEPAINT Resistance 14667 Intraday Pick HINDPETRO 14769 Intraday Pick MCDOWELL

Technical Research

MARKET SYNOPSIS f On Wednesday, NSE-NIFTY recorded new high of 14,653-level post a gap-up opening, but later remained in pressure due to higher level of profit booking. On the lower side, the index found support at around its previous day’s low of 14,433-level and bounced. f Finally, the index recovered major intraday loss and finished trade on a flat note at 14,565-level. f NSE Cash segment reported turnover of Rs85,509 crore as compared to Rs81,773 crore reported earlier. f Overall market breadth was negative, where 667 stocks advanced against 1310 declined stocks. f Mix trend was observed across sectoral indices during the day, where once again PSU Bank emerged as a top gainer with the increase of 3.3%. However Pharma emerged as top a loser with decrease of 0.9%.

NSE-NIFTY OUTLOOK f NSE-NIFTY reversed from its new high of 14,653-level due to subdued global markets and profit booking across frontline majors. Mix trend observed across the sectors and overall market breadth turned negative. Major technical indicators on the near-term timeframe chart reversed from their higher levels and negatively poised. In case the index fails to attract fresh buying interest, near-term decline or consolidation cannot be ruled out. On the lower side, the index will continue to find support at 14,250 level initially and 14,100 mark subsequently. However on the other hand, its life-time-high of 14,653-level will cap the up-move. f As for the day, support is placed at around 14,449 and then at 14,334 levels, while resistance is observed at 14,667 and then at 14,769 levels.

2 Institutional Equity Research NIFTY 14565 IN FOCUS January 14, 2021 Support 14449 Stock in Focus Castrol India MARKET LENS 14334 Intraday Pic BERGEPAINT Resistance 14667 Intraday Pick HINDPETRO 14769 Intraday Pick MCDOWELL Derivatives Snapshot f NIFTY50 opened higher on back of global cues and scaled a new high at 14653 and witnessed minor profit booking to close near the low point of the day. Nifty closed up by 1 points at 14,565 levels. Among the nifty stocks 26 advanced and 24 declined during the day. f Among sectors it was a mixed bag with Pharma & Realty to end negative by 0.9% average, while PSU Banks, Auto and FMCG gained by 3.2%, 0.8% and 0.4% for the day. f Broader market indices remained flat with NIFTY 100, 200 and 500 to close up by 0.1% average while midcap indices and small cap indices declined by 0.62% for the day. f Nifty Jan futures end with 41 points premium at 14,606 mark while on other hand, Bank Nifty Jan futures ended with the premium of 110 points at 32,685 mark. f Nifty has closed at all time high levels and on the higher side 14,700 will act as resistance. On the downside 14200 will act as strong support from current levels. Sectoral Activity: Amongst sectoral index FMCG and Banks remained in focus with positive momentum. Stock Activity: ITC and SBI have witnessed long buildup in today’s trade.

3 Institutional Equity Research NIFTY 14565 IN FOCUS January 14, 2021 Support 14449 Stock in Focus Castrol India MARKET LENS 14334 Intraday Pic BERGEPAINT Resistance 14667 Intraday Pick HINDPETRO 14769 Intraday Pick MCDOWELL Pivot Table Name LTP Support 2 Support 1 Pivot Resistance 1 Resistance 2 SENSEX 49492 48732 49112 49454 49834 50175 NIFTY 14565 14334 14449 14551 14667 14769 BANKNIFTY 32575 31934 32254 32469 32789 33004 ADANIPORTS 537 505 521 530 546 556 ASIANPAINT 2704 2630 2667 2715 2752 2800 AXISBANK 688 661 674 683 696 705 BAJAJ-AUTO 3601 3548 3574 3604 3630 3660 BAJAJFINSV 8794 8525 8659 8845 8979 9164 BAJFINANCE 4903 4687 4795 4934 5043 5182 BHARTIARTL 578 548 563 582 598 617 BPCL 412 394 403 414 423 434 BRITANNIA 3621 3575 3598 3623 3646 3671 842 823 832 842 852 862 COALINDIA 146 141 143 146 149 151 DIVISLAB 3719 3613 3666 3729 3782 3846 DRREDDY 5290 5164 5227 5301 5364 5438 EICHERMOT 2869 2798 2833 2872 2907 2946 GAIL 141 137 139 141 144 146 GRASIM 1033 994 1014 1027 1047 1061 HCLTECH 1056 1029 1042 1055 1068 1081 HDFC 2671 2574 2622 2700 2748 2826 HDFCBANK 1471 1442 1456 1477 1491 1511 HDFCLIFE 713 699 706 716 722 732 HEROMOTOCO 3257 3163 3210 3264 3311 3365 HINDALCO 263 254 258 263 268 273 HINDUNILVR 2372 2345 2359 2378 2392 2412 ICICIBANK 557 543 550 555 562 568 INDUSINDBK 943 913 928 941 955 968 INFY 1387 1347 1367 1380 1400 1413 IOC 101 96 99 101 103 105 ITC 211 202 207 210 214 218 JSWSTEEL 403 388 396 402 409 415 KOTAKBANK 1882 1856 1869 1890 1903 1924 LT 1353 1328 1340 1357 1369 1385 M&M 828 761 795 816 850 871 MARUTI 8140 8028 8084 8167 8223 8306 NESTLEIND 18019 17776 17898 18086 18208 18396 NTPC 103 98 100 102 105 107 ONGC 105 102 104 106 107 110 POWERGRID 205 201 203 205 207 209 RELIANCE 1939 1888 1913 1944 1970 2001 SBILIFE 927 906 916 933 943 959 SBIN 307 290 298 303 312 317 SHREECEM 24726 23932 24329 24965 25362 25997 SUNPHARMA 602 587 595 605 612 622 TATAMOTORS 243 233 238 243 248 254 TATASTEEL 709 684 697 706 718 727 TCS 3159 3103 3131 3154 3182 3205 TECHM 1070 1037 1054 1066 1082 1095 TITAN 1506 1471 1489 1512 1530 1553 ULTRACEMCO 5651 5568 5609 5642 5683 5716 UPL 492 473 482 494 504 515 459 445 452 460 467 474

4 Institutional Equity Research NIFTY 14565 IN FOCUS January 14, 2021 Support 14449 Stock in Focus Castrol India MARKET LENS 14334 Intraday Pic BERGEPAINT Resistance 14667 Intraday Pick HINDPETRO 14769 Intraday Pick MCDOWELL Simple Moving Average Scrip Name Close Rate 20-SMA 50-SMA 100-SMA 200-SMA HIGH_52WEEK LOW_52WEEK SENSEX 49492 47689 45499 42354 38260 49795 25639 NIFTY 14565 13985 13342 12448 11250 14653 7511 BANKNIFTY 32575 31165 29898 26477 23575 32684 16116 ADANIPORTS 537 490 440 395 355 540 203 ASIANPAINT 2704 2706 2452 2243 1966 2873 1431 AXISBANK 688 632 613 538 477 761 286 BAJAJ-AUTO 3601 3431 3251 3113 2915 3643 1789 BAJAJFINSV 8794 8984 8391 7195 6330 9950 3985 BAJFINANCE 4903 5139 4775 4090 3377 5373 1783 BHARTIARTL 578 524 498 480 511 612 362 BPCL 412 389 387 383 377 510 252 BRITANNIA 3621 3613 3592 3648 3517 4010 2100 CIPLA 842 821 782 770 702 865 355 COALINDIA 146 138 132 127 131 210 110 DIVISLAB 3719 3788 3613 3387 2897 3915 1626 DRREDDY 5290 5225 5021 4929 4464 5513 2495 EICHERMOT 2869 2578 2502 2336 2025 2949 1245 GAIL 141 127 113 101 98 144 65 GRASIM 1033 943 894 814 693 1041 385 HCLTECH 1056 953 885 841 706 1067 375 HDFC 2671 2554 2380 2117 1932 2777 1473 HDFCBANK 1471 1422 1395 1265 1129 1497 739 HDFCLIFE 713 681 656 619 578 731 340 HEROMOTOCO 3257 3105 3083 3075 2717 3395 1475 HINDALCO 263 249 232 205 174 275 85 HINDUNILVR 2372 2379 2259 2194 2185 2614 1757 ICICIBANK 557 527 501 442 395 561 268 INDUSINDBK 943 903 863 730 597 1368 236 INFY 1387 1261 1181 1103 932 1393 509 IOC 101 93 89 84 84 122 71 ITC 211 209 199 188 188 243 135 JSWSTEEL 403 385 362 326 260 413 133 KOTAKBANK 1882 1956 1875 1620 1454 2027 1001 LT 1353 1300 1181 1051 976 1385 661 M&M 828 736 708 662 570 838 245 MARUTI 8140 7687 7396 7175 6402 8329 4001 NESTLEIND 18019 18371 17792 16945 16875 18844 12200 NTPC 103 100 96 93 92 122 73 ONGC 105 97 86 79 79 127 50 POWERGRID 205 194 191 180 174 211 122 RELIANCE 1939 1962 1970 2071 1864 2369 865 SBILIFE 927 893 862 841 812 1020 519 SBIN 307 277 257 228 205 332 149 SHREECEM 24726 24403 24009 22241 21440 25980 15410 SUNPHARMA 602 591 554 529 503 628 312 TATAMOTORS 243 191 176 157 126 252 64 TATASTEEL 709 657 585 491 407 732 251 TCS 3159 2972 2814 2666 2358 3230 1506 TECHM 1070 982 917 856 716 1082 471 TITAN 1506 1531 1417 1298 1136 1621 721 ULTRACEMCO 5651 5289 5040 4598 4157 5697 2910 UPL 492 468 448 471 442 601 240 WIPRO 459 395 368 342 282 467 159

5 Institutional Equity Research NIFTY 14565 IN FOCUS January 14, 2021 Support 14449 Stock in Focus Castrol India MARKET LENS 14334 Intraday Pic BERGEPAINT Resistance 14667 Intraday Pick HINDPETRO 14769 Intraday Pick MCDOWELL Bulk Deals Snapshot Deal Date Scrip Code Company Client Name Deal Type* Quantity Price 13-01-2021 541450 ADANIGREEN ACME TRADE AND INVESTMENT LTD B 2,00,96,000 915.7 13-01-2021 541450 ADANIGREEN ADANI TRADING SERVICES LLP S 2,00,96,000 915.7 13-01-2021 539177 AIIL JAMISH INVESTMENT PVT. LTD. S 1,90,000 210.0 13-01-2021 539177 AIIL COSMOS HEIGHTS & DEVELOPERS LLP B 2,39,900 210.0 13-01-2021 519532 ASIANTNE AAKASH DOSHI B 53,670 17.6 13-01-2021 519532 ASIANTNE AAKASH DOSHI S 53,670 18.1 13-01-2021 519532 ASIANTNE NISHIL SURENDRABHAI MARFATIA B 52,500 18.1 13-01-2021 519532 ASIANTNE NISHIL SURENDRABHAI MARFATIA S 14,328 18.1 13-01-2021 540545 BGJL SHELLY MEET THAKKAR B 1,00,000 56.0 13-01-2021 539800 CHDCHEM BABUBHAI PURUSHOTTAMDAS STOCK BROKERS PVT LTD B 32,323 27.9 13-01-2021 539800 CHDCHEM BABUBHAI PURUSHOTTAMDAS STOCK BROKERS PVT LTD S 62,007 27.9 13-01-2021 539800 CHDCHEM KULDEEP SINGH B 1,49,935 27.9 13-01-2021 539800 CHDCHEM KULDEEP SINGH S 1,49,935 27.9 13-01-2021 539800 CHDCHEM D P VORA SECURITIES PRIVATE LIMITED B 8,015 27.9 13-01-2021 539800 CHDCHEM D P VORA SECURITIES PRIVATE LIMITED S 72,764 27.9 13-01-2021 539800 CHDCHEM KAMAL KUMAR JALAN SEC. PVT. LTD B 10,016 27.9 13-01-2021 539800 CHDCHEM KAMAL KUMAR JALAN SEC. PVT. LTD S 55,662 27.9 13-01-2021 540190 FRANKLININD HANSABEN NITINBHAI CHAUHAN B 65,200 15.9 13-01-2021 540190 FRANKLININD MEHTA MOHATIA DIVYAKANT B 38,400 15.9 13-01-2021 540190 FRANKLININD VAGHELA PRAKASH KANTILAL S 26,800 15.9 13-01-2021 540190 FRANKLININD DHARMENDRA CHOTALAL SHAH S 25,600 15.9 13-01-2021 540190 FRANKLININD SHAH RIMMI DHARMENDRA S 25,600 15.9 13-01-2021 540190 FRANKLININD KINJALBEN ASHISHBHAI MODI S 25,600 15.9 13-01-2021 590018 HISARMET ARPIT JAIN HUF B 27,000 109.7 13-01-2021 590018 HISARMET ARPIT JAIN HUF S 16,000 108.4 13-01-2021 590018 HISARMET PINAKINI ARUNKUMAR SOLANKI B 28,180 109.3 13-01-2021 590018 HISARMET PINAKINI ARUNKUMAR SOLANKI S 1,790 109.7 13-01-2021 539097 HKG AMBE SECURITIES PRIVATE LIMITED S 1,50,000 37.0 13-01-2021 542772 IIFLWAM EMSAF MAURITIUS B 4,50,000 1050.0 13-01-2021 542772 IIFLWAM AMANSA HOLDINGS PRIVATE LIMITED S 9,97,094 1050.0 13-01-2021 539788 KDML GRYFFIN ADVISORY SERVICES PRIVATE LIMITED B 8,77,200 70.0 13-01-2021 539788 KDML ONYX PARTNERS S 4,05,600 70.0 13-01-2021 539788 KDML VIJAYKUMAR KHEMANI S 4,71,600 70.0 13-01-2021 539291 OZONEWORLD VIRALKUMAR RASIKBHAI PATEL B 57,523 92.8 13-01-2021 539291 OZONEWORLD VIRALKUMAR RASIKBHAI PATEL S 1,600 91.5 13-01-2021 532911 PARLEIND ALPHA LEON ENTERPRISES LLP B 2,28,936 13.1 13-01-2021 532911 PARLEIND ALPHA LEON ENTERPRISES LLP S 1,23,725 13.3 13-01-2021 511557 PROFINC ZUBER TRADING LLP S 50,000 28.5 13-01-2021 511557 PROFINC KULINSHANTILALVORA B 48,900 28.5 13-01-2021 540175 REGENCY SURINDER POPLI . B 20,000 14.1 13-01-2021 532915 RELIGARE INVESTMENT OPPORTUNITIES V PTE. LIMITED B 1,76,38,579 66.0 13-01-2021 532915 RELIGARE RESILIENT INDIA GROWTH LIMITED S 1,76,38,579 66.0 13-01-2021 542725 SBC RIYAJ KHAN B 54,000 41.0 13-01-2021 512064 VISVEN A ONE COMMERCE PRIVATE LIMITED S 2,500 37.5 13-01-2021 512064 VISVEN SANJAY CHOTHMAL AGARWAL B 2,350 37.5

*B - Buy, S - Sell, ** = Weighted Average Trade Price / Trade Price 6 Institutional Equity Research NIFTY 14565 IN FOCUS January 14, 2021 Support 14449 Stock in Focus Castrol India MARKET LENS 14334 Intraday Pic BERGEPAINT Resistance 14667 Intraday Pick HINDPETRO 14769 Intraday Pick MCDOWELL

Monthly Economic Calendar

Date Country Event Period Survey Prior 15-01-2021 United Kingdom UK Trade Balance in Goods with NOV - -4,544.00 15-01-2021 United Kingdom UK Trade Balance in Goods SA NOV - -11,999.00 15-01-2021 United Kingdom UK Trade Balance Value of Trad NOV - -1,738.00 15-01-2021 Eurozone Eurozone Trade Balance with No NOV - 30,029.10 15-01-2021 United States Adjusted Retail & Food Service DEC -0.15 -1.10 15-01-2021 United States Adjusted Retail Sales Less Aut DEC -0.15 -0.90 15-01-2021 United States Adjusted Retail Sales Less Aut DEC 0.00 -0.80 15-01-2021 United States Retail Sales Less Food Service DEC 0.00 -0.50 15-01-2021 United States US Empire State Manufacturing JAN 0.00 4.90 15-01-2021 United States US Industrial Production MOM S DEC 0.20 0.39 15-01-2021 United States US Capacity Utilization % of T DEC 73.30 73.31 15-01-2021 United States US Industrial Production Indus DEC 0.00 0.80 15-01-2021 United States US Manufacturing & Trade Inven NOV 0.00 0.70 15-01-2021 United States University of Michigan Consume JAN P 0.00 80.70 18-01-2021 China China Fixed Assets Investment DEC 0.00 2.60 18-01-2021 China China Retail Sales Cumulative DEC - -4.80 18-01-2021 China China Value Added of Industry DEC - 2.30 18-01-2021 China China GDP Constant Price YoY 4Q 0.00 4.90 18-01-2021 China China GDP Constant Price Cumul 4Q - 0.70 18-01-2021 China China GDP Constant Price QoQ S 4Q - 2.70 18-01-2021 China China Retail Sales Value YoY DEC 0.00 5.00 18-01-2021 China China Value Added of Industry DEC 0.00 7.00 18-01-2021 Canada Canada Mortgage and Housing Co DEC - 246.03 19-01-2021 Eurozone ZEW Eurozone Expectation of Ec JAN - 54.40 20-01-2021 United States US Foreign Net Transactions NOV - 51.87 20-01-2021 United States US Treasury International Capi NOV - -10.35 20-01-2021 Eurozone Euro Area MUICP All Items YoY DEC F - -0.30 20-01-2021 United States National Association of Home B JAN - 86.00 21-01-2021 Eurozone ECB Main Refinancing Operation JAN 21 - 0.00 21-01-2021 United States Philadelphia Fed Business Outl JAN - 11.10 21-01-2021 United States Bloomberg US National Economy JAN - 38.50 22-01-2021 United States US Existing Homes Sales SAAR DEC - 6.69 22-01-2021 United States US Existing Homes Sales MoM SA DEC - -2.48 25-01-2021 United States Dallas Fed Manufacturing Outlo JAN 11.55 9.70 26-01-2021 United States S&P CoreLogic Case-Shiller 20- NOV 1.00 1.61 26-01-2021 United States S&P CoreLogic Case-Shiller 20- NOV 6.95 7.95 26-01-2021 United States FHFA US House Price Index Purc NOV - 1.50 26-01-2021 United States Richmond Manufacturing Survey JAN - 19.00 26-01-2021 United States Conference Board Consumer Conf JAN - 88.60 28-01-2021 United States Federal Funds Target Rate - Up JAN 27 0.25 0.25 28-01-2021 United States GDP US Chained 2012 Dollars Qo 4Q A - 33.40 28-01-2021 United States GDP US Personal Consumption Ch 4Q A - 41.00 28-01-2021 United States US GDP Price Index QoQ SAAR 4Q A - 3.50 7 Institutional Equity Research NIFTY 14565 IN FOCUS January 14, 2021 Support 14449 Stock in Focus Castrol India MARKET LENS 14334 Intraday Pic BERGEPAINT Resistance 14667 Intraday Pick HINDPETRO 14769 Intraday Pick MCDOWELL

Corporate Actions Company Name Ex-Date Purpose GOVERNMENT OF INDIA 15-Jan-21 Interest Payment Archidply Industries Limited 18-Jan-21 Buyback GOI LOAN 7.00% 2021 19-Jan-21 Interest Payment/Redemption/ HCL Technologies Limited 21-Jan-21 Interim Dividend Jyoti Structures Limited 22-Jan-21 Annual General Meeting GOVERNMENT OF INDIA 25-Jan-21 Interest Payment GOVERNMENT OF INDIA 25-Jan-21 Interest Payment Shree Rama Multi-Tech Limited 28-Jan-21 Extra Ordinary General Meeting Zensar Technologies Limited 29-Jan-21 Interim Dividend GOVERNMENT OF INDIA 29-Jan-21 Interest Payment GOVERNMENT OF INDIA 29-Jan-21 Interest Payment

Result Calendar Company name Board Meeting Date Purpose Aditya Birla Money Limited 15-Jan-21 Financial Results Cable & Datacom Limited 15-Jan-21 Financial Results HCL Technologies Limited 15-Jan-21 Financial Results/Dividend L&T Finance Holdings Limited 15-Jan-21 Financial Results Next Mediaworks Limited 15-Jan-21 Financial Results Onward Technologies Limited 15-Jan-21 Financial Results/Other business matters Plastiblends India Limited 15-Jan-21 Financial Results PVR Limited 15-Jan-21 Financial Results Shoppers Stop Limited 15-Jan-21 Financial Results SORIL Infra Resources Limited 15-Jan-21 Financial Results Yaarii Digital Integrated Services Limited 15-Jan-21 Financial Results Apollo Pipes Limited 16-Jan-21 Financial Results Chembond Chemicals Ltd 16-Jan-21 Financial Results HDFC Bank Limited 16-Jan-21 Financial Results Infomedia Press Limited 16-Jan-21 Financial Results IRB InvIT Fund 16-Jan-21 Financial Results Vardhman Acrylics Limited 16-Jan-21 Financial Results Hindustan Media Ventures Limited 18-Jan-21 Financial Results Scooters Limited 18-Jan-21 Financial Results Limited 18-Jan-21 Financial Results Rallis India Limited 18-Jan-21 Financial Results Shakti Pumps (India) Limited 18-Jan-21 Financial Results Snowman Logistics Limited 18-Jan-21 Financial Results Trident Limited 18-Jan-21 Financial Results Limited 19-Jan-21 Financial Results/Other business matters CEAT Limited 19-Jan-21 Financial Results

8 Institutional Equity Research NIFTY 14565 IN FOCUS January 14, 2021 Support 14449 Stock in Focus Castrol India MARKET LENS 14334 Intraday Pic BERGEPAINT Resistance 14667 Intraday Pick HINDPETRO 14769 Intraday Pick MCDOWELL

Result Calendar Company name Board Meeting Date Purpose CSB Bank Limited 19-Jan-21 Financial Results Gateway Distriparks Limited 19-Jan-21 Financial Results Hatsun Agro Product Limited 19-Jan-21 Financial Results/Other business matters HT Media Limited 19-Jan-21 Financial Results ICICI Lombard General Insurance Company Limited 19-Jan-21 Financial Results Larsen & Toubro Infotech Limited 19-Jan-21 Financial Results Agro Tech Foods Limited 20-Jan-21 Financial Results Limited 20-Jan-21 Financial Results Limited 20-Jan-21 Financial Results Everest Industries Limited 20-Jan-21 Financial Results HDFC Asset Management Company Limited 20-Jan-21 Financial Results L&T Technology Services Limited 20-Jan-21 Financial Results Phillips Carbon Black Limited 20-Jan-21 Financial Results Sagar Cements Limited 20-Jan-21 Financial Results/Dividend Sasken Technologies Limited 20-Jan-21 Financial Results/Other business matters Syngene International Limited 20-Jan-21 Financial Results Tejas Networks Limited 20-Jan-21 Financial Results The Limited 20-Jan-21 Financial Results VST Industries Limited 20-Jan-21 Financial Results Limited 21-Jan-21 Financial Results Limited 21-Jan-21 Financial Results Bajaj Holdings & Investment Limited 21-Jan-21 Financial Results Limited 21-Jan-21 Financial Results/Other business matters Chennai Corporation Limited 21-Jan-21 Financial Results Cyient Limited 21-Jan-21 Financial Results Limited 21-Jan-21 Financial Results Oriental Hotels Limited 21-Jan-21 Financial Results Pioneer Distilleries Limited 21-Jan-21 Financial Results Supreme Petrochem Limited 21-Jan-21 Financial Results Zensar Technologies Limited 21-Jan-21 Financial Results/Dividend Gangotri Textiles Limited 22-Jan-21 Financial Results Gland Pharma Limited 22-Jan-21 Financial Results HDFC Life Insurance Company Limited 22-Jan-21 Financial Results JSW Steel Limited 22-Jan-21 Financial Results Swaraj Engines Limited 22-Jan-21 Financial Results JM Financial Limited 23-Jan-21 Financial Results Mahindra Lifespace Developers Limited 23-Jan-21 Financial Results/Other business matters Supreme Industries Limited 23-Jan-21 Financial Results Can Fin Homes Limited 25-Jan-21 Financial Results ICICI Securities Limited 25-Jan-21 Financial Results Navin Fluorine International Limited 25-Jan-21 Financial Results Axis Bank Limited 27-Jan-21 Financial Results Balaji Amines Limited 27-Jan-21 Financial Results 9 Institutional Equity Research NIFTY 14565 IN FOCUS January 14, 2021 Support 14449 Stock in Focus Castrol India MARKET LENS 14334 Intraday Pic BERGEPAINT Resistance 14667 Intraday Pick HINDPETRO 14769 Intraday Pick MCDOWELL

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 14565 IN FOCUS January 14, 2021 Support 14449 Stock in Focus Castrol India MARKET LENS 14334 Intraday Pic BERGEPAINT Resistance 14667 Intraday Pick HINDPETRO 14769 Intraday Pick MCDOWELL

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.

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