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    CHANKYA NI POTHI

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    1K views18 pages

    Chankya Ni Pothi

    Uploaded by

    Maruthee Sharma

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
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    of 18
    CHANAKYA arket senti La Oak e ‘ArchidPly DeepakFert SonataSoft as good space will show good J | at Rs. 146.35 is J | will show good will show good keep a watch, for uptrend at uptrend from worth keeping uptrend from the J | uptrend from the 00d uptrend Rs.20.70 the current level watch on current level ‘current level expected Thedomesne equi oreine tensor hemny market hae soared 20 per ‘ent from its coronavirus Iows exactly «month go," Thetilion-dollr worth even as most foresters, of stills puckazes Including the Ineratonal—Yeoeow inert rates, and Moretiry Fund IMP). bave unlimited bond-buying ssid India wall recond ts plans have improved risk Worst economie growth appett. After record Since he 1991 beatin. ttn Mach, te selling by Te appears investors foreign ponoliohvestors have been undetered by _(FPls)han clearly subside the lockdown extension | which has inch ders te famid & sharp growth in munition to the socks CCovid-I9cases—fromless higher by builling tong than, 100 a mouth go 10 about 20,000) as. of Wednesday. So. what Show bythe make over epee mat | rebound in the market bas ‘ome on the Bak of harp ‘percent someon nthe preceding one-month Deiod, with valuations of most stocks plunging to tulyei lows Esper are quick tad that alter such a audden drop, some recovery wasn the cards JRescareh done by: Iss Jainee® Gordandas lcs.thcom ISEB Registered Reare [anaist [x her team However the shaphunce has taken many by srpi. Ageressive stimlus packages announced inthe Geveloped world, Particularly the US, hopes ‘a medical Brakthrigh —posdons, hanks oa ln to cate the coronavirus Yolanda Vix, known disses slowing canes asthe fear gauge hes come inky peopapics aresome _off rom is record clove of Dealing in commodities 22? Available ONLY as an ECOPY Boy ony hanakyanipathicomshon ; i one Erliste!" Marat analysis on Page no, 182 fan Sensis cored Revd) and rear sn whoaTe {o ener the market atthe pola. We are Tipe pst orb cee the nly conditions a Nirtt Whisper Wichar tho busing | ERQDEREM Ene rom simeresttbese! Ms Matotnblapar) Wilco ebicing | FE Ccataeeceaitaamiirearioate | ? ceca cn ee rl Tara Chart and ~The ONLY | essences Newspaper in India to give such Profit -giving ja Rental and Beeray re gyi tate ea ee Impact on Banking Ssctor exptainedon | Suh Seok Page ro. Research reports of HDFC Bank, Heidelberg Cement etc from India's leading Fund Houses on page no 6-7-8 ‘© Analysis of BOI AXA Tax Advantage Fund fon Page no. 8 '§ The most important news and ‘on this news on Page no, 9-10 Only newspaper in India, which provide Tiond Analysis of Dew Jones & Currency.You vill also find Analysis of Nifty, Crude & Gold trend analysis with targets and stop loss on. Pageno. 3 8 15, and more ‘hon Match 24.043 now. second sharpest monthly ‘Thevokaity bacon fllsiceOceber 2008 ani substan, buts slat massive selloff by ‘eval eveiscomparedto investors who feared tht whee pandemic would heavy damage 19 che ac Rs 357 and the v0 fiptrend soni 20-day SM Sinati- Hoi is at Re.303,b caps have [Shows a posit (099 (25% below stim Prolerna como rami a 2%. Q00 lintne) deta deine sees Rental even fl 1.1% WoIN21%, aia nergy PRIS! ve), Nevtenansy hin QF). Proforma co9 Contioned om Pare 2 eee) The Seip closed | Steptoe Resa ip siows space for forthet target R394 A, the Sigwal line has hus shown a. crossover ve ver the MACD, outrun [erosover over the $0 Both ind mE their mid Stochastic Indicator ant Inge and the Stochaste RSI the long-term average of cap pests in the month lo-week ate showing shout 20, {since Mach 25) that the SMA. at Rs. 287, has possibly of bulis Tn March, the Indian shown a positive upmove In this The ONLY Investment Publi cations for IPO Anal ‘qty market rected Continued on Page 2 Tw have ie YouTube Channel fand Stock Market analys fadicators show wish tren liek sftmww.youtube.con/eichanakyanipathi & SUBSCRIBE RSLs at 672 4) Hock. You can take a frock SMA, st Re. 309. buy position in this AML “the four Mock with a stop Tes Jroving average of Rs.344 and target of 1 R36, The nex! expecied w_Ievel is RS. 39, CHANAKYA Contin from Paget country hasbeen ner Tokdoon, gsr he ‘Covi panei The SQPISE Sap index recovered 251 pe cent compured ih 203 percane tbe SRP BSE Seren and 221 per cnt fuin in the S&P BSE Map inde fom tie mamaiie Sect bet ‘SStonMtanh 2 The om re baher ace vai eens ot Parsee ftir Chemicals and auto Seay stows The Sermck ened 59 point iter atrabhy Manin, eld ep ick from global markets ae onceas ver Covi: 19 Ker ines Bova inexendo 9.28 points or 18 por cent Mier 68 On be oir hand, he ity sewed 20 pm {08 er cen tore at soot Theeasity benchmarks meraees teh he Thursday hein hy inh Koper iin package trom the fovermest bolstered coumviecorntnng The Seon aged 4958 point o 131 po enrtocineot 31883, Oh rian 2860 pean or 135 pr cen sels san {nthe macro front Fach Rating on Try Sahel try coma rou prstone to 0 percent cre 200- BV sca saying am porated lob SbewoibecOviD. er Troable at Franklin Templeton Mt, coupled sihlnaheoneo oe Semmomic font dve Covi dion rar yr Sc falinthe mes at ‘were on couse fog their Thin straight weekly eins points or [7 per ent lower 31327, while the Nify dropped 17 percent oe 160 pits 0 clse a 9,154 on Fridey, Both ended the swook witha poreont oss. Tanking and financial stocks sam beavy selling flier Franklin Templeton announced the clsite of ‘Thursday. with over Re 25.000 crore in sts ait easy edemption presse and low liquidity im the boomer. Investors feared the pin could spillover tothe Re 22ilion MF industry ‘vith sates Nippon Life “hopping 18 per cent and HDFCMF delining por Market experts sid Dies moore Franklin Templeton were the frst high-profile comualis ofthe scenic slump it the loko, tnd more such incidents could no be ad at Global markets remaid oie asthe wit fora crebl brelthnag in medicine wo remedy the cod 19 pandemioreinet slosive: emo dfuwat also weak lob Prices were sharply lower fhe todepletion of storage space ‘The Sensex is seen ening marginally In he negative, The RIL stock uperfrned ello inthe FDI deal signed with Facebook. In the coming dys ality of NBECS to ‘ase oF refinance its debt ‘would be tested. Market from medium term enpectve (On the international front, European stocks clined lower on Friday traders monitored fresh Want to know what to do in these volatile markets? Subscribe to the Yearly Package www.chanakyanipothi.com/shop_ Pacterer eae! a fo ae paneer parted ‘As such, the With its sisi see pape Suey cbenetrcane conc dutnand igeted {report that rise doubee over apostle coronas The” pan-European Stoxx 600 provisionally floxed down moe han 1%. ‘withenot ctor and jo bouts in pegatveteion. Risk sentient hit late on Thursday aftr & Tins, eit docurpems scchepilly pis by the WHO, sid that dre rendesivir om Giles had failed to improve patient ‘conditions, Gilesa noted that study was exily dole enrollment.” feaving it “underpowered to enable statistically srusy inconclusive 19 be sue, CNBC'S Jin Cramer raised dub over theta eonhited in Chie. forreuls irom US. tudes hetore dismissing the “Lay wait until the ‘Ameriean studies come out” Cramer sina tweet “University of Chicago tive study a ot mor egos at would sick wth. You doo'thaveto believe it tut this isthe third time the Chinese have sad the deg doesn 0k” [Bkewhere, EU Jeers agreed Thursduy evening to develop a villi suo emergency fund to help Support goveraments with Timited. fiscal space wever they didnot give aay indication about the Forlavesiment Advisor) Investment Seminar Sm height) £2 soln (width= Rs 2000-687 Quaterly Results of Mumbai and Gujarat Iased companies: 1 em (heiphn) x 12 sxiiit= Re NADI-SGST suit 16.39 QaQ decline to INRI2.25 (1735 miss) peed in Renl EBITDA, Enesgy EBITDA ren threefold to INRSISm, aguinst our estimate of INRA, The nosedive EBITDA was rite 22 Stincreas in Other Exper (© Alembic Pharma The domes forlaton (DP) segment of lem Phar bas ily shown ssn fsesival afer four quarters of mised growth, ALM Fesaine on eck ia tev of Fishing large capes projet (INR25b) 10 enhance new dosage offerings andincreas: spot roirmentsnthe US Genes ‘Semen We expect the beef tobe witnesed FY22.Giveathehishte ofthe USbasinen in FY20, ‘ve expect composed earnings 0 deine 5% ower Fra (© Bajaj Awto: 2 Inher hs sued the wor etic indecadesin FY2Dluet0 commie down, ‘We oxpoct FY2IE volumes to decline futher 1 5% YoY) due to pandemic ed oekdown and BSVI related price hike affecting sply and demand, fier which ‘ye expact sharp recovery in FYIZE (+165 YoY) rover ed dein In 2W segment 192, DOO have e shap ley seb ls of 2044, Bal) A aap oa ih yin eet a wih beelpo expos. pcs ould age eda lercleheliengctiine Glow pend Of heya ‘company's major exporting hubs ae in ol dven Aian nations. Baja} Auto ca fst the decline in ‘fra high 1 penetine nto newer Searaphics {2)maret share ainsia ASEAN region, © 'NEPC: Amid s nationwide lockdown, India's power demand has destined 20-25% YoY. Honevet egal lity companies such as NTPC remcin w= insulted fro these external conditions, NTPC profitability is Layely dependent om the abiliy fpenie and deere avaiabity for is pants. The thet inact lower demua pltition ‘sso aie inthe on of lower PL incentives 26 of earings. Given the sent mare of power ereraton. operations contin a NTPC’: pans Sr A tavel MAGAZINESKING ing iy chisel at 91S and the index shows space Tor upre Mhdiy SMA whichis at 10043, fas shows 3 positive crossover ver the 30 day SMA sich is 58 The I0-week SMA, at 11208, has shown’ a positive ernssover aver the 40 week SMA, 9725, Perea erent ‘Spies 9098 get All the four moving postive tend SI et 48.87 and he Signal line has shown crossover over the MACD, Both Indicator Stochastic and RSI 908 bullish move fargt of 254, ‘ha 9508 the Stochastic "Technical Analysis ‘Stop Lows | Target jarget 2 9353) showing 3 pessblly of You can take a buy positon i this index with H Jog, 2 stp Koss of 9008 and v 1 "The eat expected shy dees. After TS ak ears tower om Prada ight fs inestrs continued 19 veh the prospects ofa potential coronavirus Vrcatmen ovis on 5% S&P SOD and Nusdoy 100 (ures 1 fHirped 0.65 and 08%, 1 fessscive "The major averages taken for ail ide Nay er peers India give indept analysis of Dow Jones Industrial Average topotch US Index. We fpelieve that Indian Invesiors nd trader must be aware off ‘movement DJTA ‘er The neal ies reported — citing ‘documents accidentally published by the Word Health Organization — “Technical Analysis Thais Steness Gre teindesivie did nat inprove coronavirus tations’ condition, The flocuiments ied by the FT reload o'3Chinene finial The S&P SID and Novag Composite loses just below the flatine on Thursday wile the Dow ka at small gain. At their Session highs, however, {he aveages wee all up sore than 1% Target SLI SLz oT er LENA AEE The Serip closed at Rust? and the ser shows spaee for former uptend Diaday SMA, which iw Rs 1239, han shows the 3 day SMA which Is wR Rs, 19, has shown Bath the toch Indicator andthe 1 posiliy of atin wpmone inh eves oor ia by Polonia hs sock wih teen RIOD lel is US Stophoss Ro 134 Torget RATS average indicators show § balls wend the Sigua lnc has owns 23700 rr The Sep coved at RiA03 au the serip Pstows space for forthe Malay SMA, which I i a R0285, tn shows a IK poskive crossover over (he 80 day SBA which Is Bur Re. 3500, T_ Tie lowes SMA, 1 Re 3019, bas abun 23300) ‘Slop oss Rs. 3968 Target Rs. 4166 Al he four moving Balls wend the Signal lve hs shown eee 23100 Pa Tadicator and the bullish upmove in this sock You san take a Buy peattion inthis sock with Stop loss of B38 and ceaposed level is Re 106 ty 4 weeks Buy Sun Pharma @ Rs.486, Sell @ Rs532 Reaneand the scrip shons apace fo" forther D-day SMA, hich Ie a Real, baw shows & oe stoner over aR ald 3 Rs. 419, han shan Rs.3m62) and the sor shows space for frther Diy SMA. which 280, has sos the 50 day SMA whi i LAtps://t.me/ MAGAZINE SKING Target RSD the 0 week SMA, at Bs Tali sen SU eat 70a the Sign tine has shown Nate ao the 30 week SMA, at Br m3 average inletors show ‘The Srp closed at Rs.590 andthe serip sptend. Dotty SMA, whic ie a RAaSt, has shows a Pose conan oer Ws. 9, "The 10-wosk SMA, Rs 46s, hos shown Positive crossover over Both the Stochastic Indicator and the showing 9 possibility of Bolishupmone sa this tock You cnn tate» bey op toss of Re and V aprreng ath the Stochastic Indicator andthe F Sonic ey ed baliah spinors ia ths b position in this stack with @ or R291 a SKS ‘SopLos Rs 587 Target Rs. 641 the 30 week SMA, at Re average indicts show b Sop RIBS Tanuet Rs. 1886 the AD sek SMA, Re All the fear moving average into show SI at 6099 and the Sigel linc ha shown rr Stochastic Indieator ind showing «possibilty of lish upmave ia this positon inthis soe sith taret of Re nest expected level fs Rs 6 Buy Asian Paints @ Rs.1828. Sell @ Rs.1886 Maco. Ingicator ans the ‘Stochste HSL ar how = possibility of ll fpinove In tis stock. You {his sack oth 8 op tose fo Re TBIS and target eit The next expected LAtps://t.me/ MAGAZINE SKING Buy Bajaj Auto @ Rs.2445. Sell @ Rs.2615 Parone Ones The Scrip ches «SEE Bath the Stochastic f.9%6 an the ip shows EO EIEN aticsier nad the pee Cor frher spend. hy Ba iseas, Stostuile USI ore 2hday SMA. nb me owing + possbilily of deat Re U85, hin showsa S298 bullish opmove inthis sitive ctossovcr over All the four moving och You con lake buy the S0 day SMA which average indoors show 8 pouton i ths stock with 8040, ballish wend Nop lows of Re 0 an The lO-wcck SMA SI isa 6 ad the age of Re IB 80 1 fy, SUID, fos show's Signal fing has shown the neat eapected ortve evowsuvet over SEDWOVEE "over ME feveh es [3885 he 30 mech SMA, at Re ndais ot ey stone" Te eye Ragin he dey SMI wich the ck SMA Rho pony otf int aS, hee tons tah epmeve as Callscermmoercre _ AUSGxTaoiie: Soetoro ake = bet the 0 day SMA which is avitge indica. abow'® ponitn in ie ace wa sks 28 co aag eth no 9 ond iooweek SMA, S801 and fare of Ro eT ei Aystedtarte ees rhe sort camdial Buy Nestle @ Rs.17406. Sell @ Buy RPG Life @ Rs.251. Sell @ Rs.329 The Seip clowed 3: REESE MACD. Roast and the scrip Both the Stochastic Both ths Stocacle Pinar EM tat a9 Schnee Siiday SMA, which the 30 wock SMA, a Re, showing 4 possi, oF ah. Ballsh spas im Thi At te fut moving ok You can take Oy erage inet show a) peton i hs Mock with alloh en Sop ose af IST ond TST a 6 and he nget of M27. Over the tevel is Rs 3. The Seip ckosed « GBUSRNRREOG | MACD R170 and he ct Both the Swochasie shows space for fortber Indicator andthe ‘puns Teruel REMSO2 Siochastic RSL are Hiday SMA, which the 30 wesk SMA, at Re. showing a possibly af fs at ROAS9SS, has shows 15067 bullish upmove in this 2 postive erowovir over ‘Allie fous moving och You can tabs «By {he 30 day SMA which ik average ingieators show positon fa this tock ith ot Re, 1982, bull eond stop less of LAtps://t.me/ MAGAZINE SKING HDFC Bank : Safe harbour in turbulent times ‘of fons) in addition to specie lower ROAMROE at 1/10 in ae re SRS PY2L, bt to nrnaline back to ‘Oulookand vations: 196/178 by FY22E Rewin Bus! ‘We trimmed our earnings OW stance in EAP witha TP at estimates further by 2% for Rss coe bk at?.64 BHDECBreporedmodrats superior return ratios the —growihestinutcforFY2UFY2210 FY2UUFY22E, factoring in lower + sl value of RASS ps share), carings growth of T8S yoy te current stesso enviconment, neariyhintncal aw of 135/17 fang higher Lhutparly Key sks to our eall re slower R61 (25 mis on est) doe to Maia BuyOW in EAP(TP: "NAS down. due to offset” by some cost foun growth, higher-than lower feshigher LLP (0b). Rs.100, ‘moratoria; trong proven rsosliation Anticipated NVAS in sane including contingent Cosid-19 Deposits saat amid Sowing. chest comforting: ‘We exqwet ihe bank reper loans ind management transite. provisions (Oops). The GNPA ered gt The GNPA rai wos dows BERRIEN WHE Fatio was down Ténps gou to The bank reported strong {6hpsgoqto 26% explanedby PAREN A HES OT Ames Ls. cov 11262 on lower agei NPAS/ CASA grow (24% yoy/IS% lower agri NPAS (6bps) and rmamorsm beet «qa Pence fom High to moratoriim benefit (HO. "2 The hank has done tess safety from small-sized Nowever, consol, GNPA mito tesing und believes that credit private banks post Yes Bunk remains eleved at 14% duet risksarewollmenageabe.whileitfaeo. Dicherstrese ins absdiary HDB has created credit reserves of To manage deposi flow and Fi Rsdf-tbw (0.485 of loans) in comin funding cost amid ising The bank has done stress tuition o specific PCR vo lp rskonmargins dsetoslowerioan testing across portfolios and aor future asitqualty hits, growahyNPAs, the hak as cut belevestha creda ae within Moratorium usage in retail has TD and even savings rate by tolerable levels beaks 59 fa 2509p. Laan promah in Q4 was Movatum eigen weiss ‘Alor deageing feet Tor trong 1% you. ainly Reon surpisingly hw i single ing he le Bs iaze 3 even by cor Book aun ig aig on cards (Jima extras by short tere waking capt cove, while dhe bath Belioves pecmediarepons) for MD & CEO demand, its longstanding conservative Position duet be vacated by Oct However. theimpostofCovi-_mdcrwrting stars inciting 20, Any clay from the RBI 19-li! darption war viie in largely captive and salaried should emerge around July/ cards and VF book, HDB Fin cistomers(sialy employed with ‘Aug 20andwillhekvenlywached (ubs)teorsponcd muted growth CAT A corporates) should limit ut OF 6% yoy. ‘ssetequulity risk in the retail ‘B We believe HDECH given Factoring in prolonged paolo, sn aap ie, esnips ao mae Rts.3be || l healthy provisioning Huffer! eisk of economic recession provision in QM (mare thin RB perting patito absorb assets Weighing i on burk's growth, prescribed mom) and wow has ‘ality shock, wi tl sustain eal in etl we um Hr fea) ret reserve of RL Abn AS rie ie a : Banks : Double whammy for some sateen | iskv.aoscrtap nye WantmeaE spate Honan ue PEM | pone Tielikwaiiiomad Wellin! ttle wis aorwtipee) Tibeteaer so tniteat stenoses ey thst sn) rst he ‘multiple order and far reaching CAGR of 15% over FYOS-19. ICICIBC.KMBandAXSBarebest @ +The sector saw an we've increased our FYE verse we believe, Consequa rae banks grew faster at sector are doing spectacularly This willbe acemuated by @ Whilewe havereducedour the less obvious (but equally 29g qver FY IDandat 19.3% well. Credit growth has been delays In resolutions and growth estimates and have portant pt isexpected 19 yer FY (6-18. Over thin peril, slowing (wily a sight upick reaveries Retail loans, which mene foe higher NPAs, given Play our on ebb sie. In row in depois at 15.1% has seen in Dee-19 aod Jan 20) anit have seen benign asset aly the high degree of uncertainty such a scenario, we believe gged overall foun growth at likely 0 slow (frther, Troms inthe eset past el} tation he ote Spout fw wil ecome meres . Scnidesisyniva12%t Jou emacs ne in NPA een oenpicay model Ove pola Private hanks have done © Bank credit growth saw TheRBsimoratram ll prove caring for ¥ 22/2 fly 217 Large banks, with sons esecetingly wall on the depont slowing weds over FY20E.Noa- oly epoay ai. 3 ranulor liability franchises. front in the last two years, fond ret gmt slowed 1 jot Feosonable asict quality cypuring 66-0 of incremental 7.3% i Fsb-20, Tie tend was peformunceandsufficientespital temic depesis. allowing tems vibe wtoss industrial. sevice te likly to emerge stONEet. fo support superior assct-side and age creit, Personal loan | Our ttenton bas been drawn hat ome persons place photocopy Consequemly. we teFICICIBC, youth The events a YES fand growth which had remained | PDFofChanskyon WhusApp Group. Tiss ILLEGAL under he AAXSBand KMB amenas the lrse PMC) ape key to increase enk- tevin at 174s likely wotake | provisions of feces Property Rig and oer povsions. Sich ep version amongst depositors We Signiicamhncck duc COVID- J persons are ward to desis fom sich practice otherwise gal WepreferCUBKamongsthe eliove banks with an excess 19. related disraptions. | acon will Be taken agaist the peson who poss such copied pickofsnallereyionlbinks We geliance on bulk deposits and Consequently, welve reduced | newspaper and also against the Whaispp Group Admin Infosys : Covid-19 leads to guidance withdrawal ‘Analysis by Monta Osan Cautions commentary on ‘expected ines 'B Dsspie COVID-19 impact on tilizatin, Infosys vas abe Uefend ts gross margins (Qo. S845 whi comforing Large ‘eal sgningsin Mar 20 USD1 7 YS USD 8b in Deo"T9) were impaced. Howevetitisimporuntio note that rum-rate of new deal wins showed « atcaningfl increase (50% QoQ), Commentary around ‘cominued and broad-based deal ‘win overthe previous 4 weeks is cemcourginy Tn addition, anecdotal evidence of dal sini tps in remote manner resmsring We expect sips ‘pets to ese of even ws Work, fron Home (WEI) may ates lockdown fora significant share ofthe workforce Tn light of the heightened unseen in the near te, we were not laken aback by the autousoalook ofthe copay Beyond nest-trm challenges, beneiciry of digital spend by enterprises. ‘Vie have marginally ext our BYDIPY2IEEPSestimatesas we ulin easier pricing presare, the impact of which is parially ‘offset by the change in our xchange ae asusion. Revenueand wormed EBIT margins largely inline ln QEY2 revenue USD EBITANRYPATincewed 477% (65 YoY (is ourestimates of Asli approvals for WEL erenot recived in cern ces revenve witnessed -USD32m (1s eevente) dep, INFO witnessed broad bused decline actos eographis with its Indian business Switnesing the most pronounced inpct 85% QO, USD), 1 Barring Mi Tech (42.5% QoQ, USD) other verticals repored venue desi. While Rel winesedonly 1 marginal decline (0.1% QoQ, USD), we believe the fll impact ‘9f COVID-19is et come 1 Adjusted for 3 couple of cove-offs {enrier than usual Fecognidon of visa costs and higher than sual CSR expense) "BIT mains wer rgly line mb exive inulin AY inact, HUB wis cont 09 ipa) andreas hi -S0bp impact) were the marzin headwinds, INR depresition (4300p impacd), ediced uavel land oiher cost optimization mes Shp mst) were ey magn alvin. 1 Large deal bookings in 4QFY20sponat-USDI. 76-36% New dea The company had sons Hada bemeged at Auster and Canad 2h forthe weatment of tendon lne wih ts sie tnta Censalteney sue the fovefron of India's mspctiejanaysed77 Covi 1 fects owing, to) Serkes(ICS)and Wipe, With likely demand. howe to fight the nmkrasCovaOaiper Apart fom Ineo Uneeraintiey wound he tro tems, revere slondown in’ coming sevonivinwdsease(CovdnWunandabsetd athe company ha aleady Covi 19 pandemic This ood S127 biionfr_qurretfonys ses Is T9). Aer announcing those who wcceved iefesse te apa to cmdapiathefimfllng Grtnmcil et Sop cemelag iste cewcael on trarvase’ lnetiea thc sieet uatodbweatiecaland fr 20tadheun (yd Tue peeing magia eeweimckeetp. eiodsies: work on splice torical tbe Sexelsraet HOQee he Soon ofa sovble-dgit rrvinwes2lpercat, vbw oat opinion -dewlogaprpiddapaie Uralon of iwsbeltng dni was Oued sue grown tatcinFY20 in Isbbpstom un RFYIS. mova lwaecns. HIS ent implng, ap) penodanieraikesat by sven commies EEonen cuvescy (CC) tegarsvenlndnnss "owe. bare already profncton @f ielonimeney Cree: eve be weed OF on filed rege of 2123 per taken vans dchiont bontiaeie HOO) It an ous rotenone pune RSA ton eet th te aay dd Gomme) HN gue THAMES ALIN eat ate eee WiecnelimedieipRnris "Csi, whe: eng dr pomoke “SPT Mcace Crs lonratioy acti Hae “OTN onthe et the March uuetanceruimty due Cords until things improve, ipedultanealis Replat alr nikng Iban Beart (Gey syecenyer Widcimedinmmbe Baldaresieattar DwvenCnisls. tegen ely ox ithe) tat cos me 0 mln Covipreeinmelespe to provide gulsance on ako wioeedsignfcumy Recent suis have nfbulon, the pallet hlesand sit month we Co Cemcies gibepealoeuegat utter feo kiambene™ phivecpiemagiadect itr tiiCaigtuah wl actaabalinn of he SPiperconespustdiy, FYRL We. had’ an td Sian ROM, cit lett! nen have teat Utelica APL wake athe Pemex ‘eeepicea Yer, wil nee to feb ogo the mew’ the oe od fc. 180 lion Bh oe ws Bestphede GOH pom af 8 poet than veld colitis pila \eogf Ceintanmdlor Nef atl, chen raideh Sperevo YOY, cpm ECDL Npee scence pe Uptcrd Herlhens UE Celi) cemmusan pelted Opie Ca Seenalyiigee08 pet cousulSailPacthMD Yor. while b-ech and hus been commercial Ae’ viruscimianing —ADateageay mene fom dalle terms, sngCBO. 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(wo vaccine anid tile Hocuites apd coat ‘muds capinfstion of wsweibsclnalvn elfeaive Wemaieaelh _aDNavacioeedenstin Exchange Board of India Further, it has allowed public shareholding of Rs: ‘The company’s stock coupled with polyethylene a live weakened angen chage Tis me 10 Docarkarbeertoce) ndael tan Morey, gical wo prerea new cecanbieant "nesses Cauaswumene Gens CRiioscuethan ening she ay amped pero cp) Pgpled vocespetCo treorpaioncaetertick "The quer tat ne "tue thesnld for drmmontc BSE Amiyas nero allt hat hs” Zao cea ox TOsppovae ponies tee ce micinen tapapn (lll ibieay bydon or. thee fsiecaliy ee: mppvea i imeert ed Ae present, the Uaceweiiehshisvesie feqtomeas forage (cc thal” the Steet Iatrfcom af 2, bat aay hs for Covi 9 apponasgicntinOvsre byupto 0 purcenetthe suchas eum educed snpckendsconcideehie romaine in seb longer goss from China, nd ee eeeenes ehtmautesaessaant famnectsepioprasa ferurces are being sadtcrcfar,rogmesanly ls worting 10 develop an ote of Seb Tine] rehire telidall WTS rca of Melee seed iowuribe Coit: Omca-wedk ect thm, dso sheen” Tas has fer dosumen.” Isl, "Bpmeenme brovding a much ter Ankit Hata, rls on ben ened y sit Hwee Sb ad tere "ln the wake of Mri sles hive ea pte wih Bais, ap hat falfimsat of cedaln chine iene Abo. cometyadsogeorae Ineroron ft2b hat dieu Cal eam, crewing 4 competeive at seria Cent te Coe badieicanie inva! ete tins he sle"Pepitedisfaee Cond. pregame, Be carey CARE utente UcnanC Oe GeGeneee eT cammus cone shserlous here he enlotmeciremcssntar Wanpentetmogh std) by be Unienty of pobliywihiapacnil cgsely i bee bree Sethe csphalor wil sear Beatle Seb hs capitan Seb ias Tents Medica Branch, ome vine wien “They avo need Sapte tecen March ty alcsomeleyrelsaens Geiged prt cerain Galveston Semonrried_ghen arr inthe dare ourhing business te Beas eretacrG, ionic aphas es cpmayeinseton, “ciued” TO0UrtoI) totes bons cael wei Ts orpaiy wid Bieter feet Te Glos vrs b jiepma tees gw |Cxrmmenlee an bod Ronawteaclaeet “For” tasack wimcluniphesa je calsiha were p-tewed vitteUSFoodandDng for vaccines and he 10 CHANAKYA ompany N Mahindra & Mahindra tractor-led portfolio to cushion revenue fall The sock of Minn & Mine M&M hoe Sines sop ecveey Since he einige toh ining 25 ecm, Seat 20 pe comin inispesindex BSE Awe. The pan hae come nhs bath ofexpeans tha he company ual pentol and eter capial ttosaion villi pegee te lowdown ber than oer player ‘with the reeetinen mato ap 3h. rel ome Sling aco machinery ad Spsce pn are expec to reo cation: Brier the haveing. and sowing vein mack wos enbeed barn, aca Ma il bea major peice oe te Telaaions given to tert tes Aba Sr ato seins Signin perenage of the tus veri alee oom ton ua ie Gn an overall bids (ones ators and ght cori ek). sea trode a yl and shou Toperconottesenoe Some fromthe ral Give te recon rab sowing sedy hares setts and expectations of + normal monsoon, cor segment he 0220-21, Fhe, the governmen’s focus oo the rural segment should boost demand, helping strmg recovery. expecially in the festival months ner inthe year ‘Volumes in the tract sc are expacied tobe 5 Toper cent oer compared seal oser 2025 percent for all other sexmments Analysts expect the company to maintain its rmaet share at 40-41 per cent inthe yeas The higher ‘les of actors sone Volumes area positive for MAM,ss maginsin eta ‘ulpat segment at 18 por cent are thrice the alto segment’: Though a age chunk of space comes fr the ra Segment, analysts Believe MAM will srugsle 1 sll vente Bolero and Score, ‘= demand fordseretonary spends is expected to pik up nly gradually ax etal ‘seme ality and ight commercial vehicles) fontinue to be under Demand worsies and in shutdown impact were Uinblein Marchforihe mts Segment, which witnessed fans percont ddtne yeu ‘n-yearin volo. ‘The other positive ton the Sutcet’s perspective it the improvement in the ‘capital allocation poli Recent the inn desided ott mest more capt in ite subsidiary SeangYoug Motor Company. given he Hisks fromCosi-19, Thi wil invent $32 willion ‘Sompared to $06 milion fverthe neat thee year. believe the fem could delay or across ile lose making subsidiaries. as cll ay cap expenditure plan for tore Inthe near term, the hey triggers would be the ‘March quarter ess The company is expected to post 38 per com fal in Fevenue, fed bythe auto Segment wile mains are expected to dating by 220 bas pins to 11 Though analysts expect 60 per eso fallin et profit o about RS 00 ‘ore compared to over Rs nero nthe year-ago quarter thet iso alae sheet isk, The company, aceording 10 TIFL expected to end 2010-20, wih tea of Re 3000 While there are postves om tractors, uptal allocation polis, and alton reasonable lmapice-to-book hiss of round 1x), investors Should be camious there se fins ign of covery for the utility and Tight commercial por ofthe fim. ACC's strong operating performance lifts sentiment amid Covid-19 lockdown Even a the volume pressure was evident on ACC's March quarter performance and Fesliationydisappoted, cost control pulled up Wit both te operating and net peofit ahead ef fetinates the ACC sock {sited more than § per cert fn Wednesda 6.86 milion tonnes (mt) ‘clined 12 per eat year fon-yeat (YoY) ad 16 per cent sequentially, in the March quarter (QI sompany follows Jnwary ‘Continied onPage 12 Bharat Petroleum divestment process begins amid coronavirus lockdown Despite the Covids19 adversely impact private exercised is it right of Jockdown, the central sector interest inthe relia giving go-abead fe government is Keepiog the company Bosed on cunt tne divestment process on Balloting terdivemcnta? marker cop.the goverment condition that whomsoever ite stake in Bharat taken BPCL ss valued ot is going to uy the BPCL Petroleuin Corporation srumdRSA2.7S0croe. —atakeinrefnery willhaveto (BPCL). The Assam ‘The Union Cabinet had sell 13.65 percent stake 10 fovernmenthasgivenano- cleared the proposal for the sits at the same pie bjectioncentieste NOC) Strategie "sile’ of Toten, Oil India forthe sieof6163 pr vent governmen"s5329 percent which holds 26 ger cent BBPCL sake in Namaig Lonnovember stke in NRL has already ee A veparment of toustate-run entity Investment and is scons rst ep Public Asset Management towards the Aiveseneat process (Dipumy that the company isksenon of BPCL. The state cing tie BPCL has giv the NOC (6 the deal athe sluke, BPCL had By sre led up » lievelopnent condition th nother 1865 pet ‘saben NRL al BOE Fee un be sold v0 Assan, the capacity of increasing itr sake in 20,200 NRL. fromesisins milion theprojoet fmm 2.351025 However, the tonnes per nmam tri) percent avernment had made it 9 nips aan investment of ‘This sale will precede Clear thatthe stake sale the divestment of BPCL, would he excluding the Which seapectediohappen company’s interests in at Nunaligat in Assam’ fouly after October 2021. NumaigathRefaes which Golaghat district under the ‘wing tothelockdown.and a sate-ran company will Assam Accord signed on the decline iy valuations. buy. NRL wasincorporated Aust LS, 98S, which had Fromathrcenonthhiahet ia ISaspactoftheasar ended insurgency im the Ry $01.63 share on Accordsinedin O88,and sate. Based on the iil Februat) $, BPCL shares hence Chiet Minister agreement wih st, tho ropped by 27 percent Sarhamanda Sonowal bid fi igh of refealin ce eM Sopioceon Momlay, writen ts Prime Minis of stake sale in Future wan ‘Acwoningioureportby Naendea Modi seckingan given to the state IeICTSecuries. he impin exemption forthe eompeny _governmen. During 2018 share price is due to from the divestment 19, NRLS net prot had weakening gross refinery proess decined by 3.02 percent to margin, omseion i stock According toa soures Rs 180.3 core. a sins mirkets, and concer thal clone tothe development, Rs2,O4195 crore dig the the oll price dop will te Asan goverument has salve pesiod lst at Order inflow to improve for manufacturers of specialty chemicals Sisto sy sain from she Jokdowe chenicl companies ve "Ronan Copia and. Connie sho aly facdbeterdancompanis Spa tae of eines Seractants (wakes imoter secon. Sic be Research believe that sufeans uid i hme stat of CY20. even he spccialy chemicals we posal earepodut) and Sencha indices ity Caepiedtienatonal Fe Oris epee {de Senice Ne shed kdven conan eo tee tu Suge Over 25 perce orn ay 5 dona fry nea Cheniclconjais me they havea dveified products: Sima posedgainef3Spetcem. tasofwcrmfsticsand tsi sept ofA Thepamarlage ae eile demand fom Indsess SRP and PL ‘tong demand for wet ygenean poten ne, Inbafesthicheaara te Industies in Ind, fling geochemical and agrachemical and ‘aw material cossand new pharmaceutical sectors pharmaceutical sectors orders expected trom "Given the essential would also gain given byers looking for atureot proton, some linkages to the critical alternatives given the ofthe plants are exempted) Continued on Page 1 4 CHANAKYA Company New Jio Platforms now more valuable than rest of RIL businesses put together Reliance Industries (RIL dea with Faccbook to sell 999 percent Kn Paton hss wo messages forthe kc irs sharcholden. The key one is that Jo Platforms is now more wlaahle than all other businesses af RIL put together, nluding etn, ptochemical andre ‘Code this: Fantook ‘buying 9 9 percent sake nF Pas, 3 10 per ‘ent sidney of RIL, for translates into 0 market ‘equity value of Re 4.36 Trion foro Pins RIL stock ined oxtr 1 persentait the del as announced, At Wednesday's price, RIL market capiliston stood at Ry 8.64 trillion, This rmesns teeter busine sas ave being valued by the Seeet a Rs 4.28 lon, The other message fs thatthe del has ck state the monctstion of digital assets and will help RIL Feduce debt. create an incremental reve sre tnd could lead 10 higher ‘alton forts conser facing vemieals, espectally Reliance Reta Theews of falling leverage Levels is postveas teme at atime then its core oil and gan eral was facing msjor headwinds beewise uf the collapse of crude oil prices This hod cused concerns ‘over the completion of the dea with ramon, whessin the world’s biggest ofl Producer was Iooking at Picking up 29 per cot stake fa RILe chemical ond refining business in del Valued at S13 biion With {he fresh investment Ft Facebook, leverage samcems have weed ‘OF te cash inflow Ji Platforms is expected to ssuin Rs 1S000.toe white ‘herst will eed ty RTL tolower deb by redeeming the optionally convertible ference shares it hod, This iavesimen, coupled with the Rs 7,000 crore investment by BPin the oi ‘marketing oi vente is expected 1 peg ack debt bby Re 5000 roe RIL ad a gross dabt over Rs 3 from apt net debt of Rs 13 uilhonasof December on CLSA's Vikas Kumar Soin and Sura Yas believe that debt could rece by 20 perce he endof June quater and net Seb) to Eta (earnings before interest, taxes, depreciation, and morirationlvelssholt esti 27 times 02.1 by Bre 2021 and wo lf of financial year 2019-20 (E20) levels by te endof FY22. RIL has a tage of becoming 2 210 net det oman by Mee 2021 Farther triggers om the monetisation front vill ome about when the sompany is able to close ‘eal elte to ower, fibee and Aramco, Brookfield is slot o pick up a SU per ‘eat sake in the telecon vente’ tower anels for Re 2.015) The compan abe loking at monet ts epic be eset tar are housed inant The Key pms fom the pares wll ome ram the conse aangeient Irscen Reknee Resi Fo Platforms. and WaatsApp. This willbe retail evosystem powered by Sos commence pote, which willenablecstnes fo access Kirana stores ‘sing Whats pp ‘Atay at Axis Cita belive willbe igdiver forReiaieRetil enabling multiple cross-elling opportunities, piven the Slrong presence ucross cing sa sonmect with Small bisinessesfkirama evers 10 wide consumer base (ig Subscribers) and payment tsteway (WhalsApp) efi sabe eae pits potas achines cose sleet sores, tnd the interlace between Fetal sores, oMar and Whatspp works seamlessly there cols Slanificam upside in terms ‘of cevenses for RIL. jy Shama SBICAP Secures believe that ia “Maavnow commerce could generate revenues of RS Kira sore network of 1.8 nillon They expect Rs 200 per-share incremental in for RIL trom ther offline setwork of smal eile: ‘vith gains lngly coming from. procurement and payments. The gains are expected to come as the ‘company achives scale on he retail actwork, aggregates dere oneal of alerted Kotak Mahindra Bank plans to raise Rs 7,500 er via sale of equity shares Private sector tender Kotak Mabiadrs Bank on ‘Wedoesday said is boa Iu appeoned a propa issue 65 millon equity shes f 5 cach a pat ‘ofits capital rasing plas. ‘Act earent market pie this works ut to abot Re 75iMes “The board has seconde is approval for raising of capil by way of issue of equity sures by thetank forypwo¢Siion equity shores of RS each, heough a private placere, follow-on pi bfering (FPO), qualified ‘nsliutional placement (QIP) oF + combination thereof, as may be considered appropriate, Subject to sharcholders spproval and gowemmentl repulatory, statutory appeevala ‘snd recjirements “ ‘pplcable.” side bank in an exchange fling. The bank's share closed at RSLISI up 8 perecmtiom previous days love Shale holdings of RIL, GATL come under pressure amid oil price crash The falling demand of «rude ail in the US market wrill adversely impact Tadian compari in the shale’ business there American tfiners closed Some of ther production leading to fines trade benchmarked tothe West ‘esas Inernedise (WT going negative on Mond Thowsh WT recovered javesiment in siernative fs ike shal tus ecime unviable For] RL its investment n US stale is providing i negeiveretirs oni The average realisation for iL vesinen had falisn 10 $2.7) for thousand eubie feet cquivalent "of shale production. Besides R GAIL, to, has invevted io sale ithe US, ‘When era oil pices drop, production of siematifeske a i And gs becomes unviable RIL's upstream joint ventures ip US shale include a 45 per cent Working interest (WE) partnership with Ensign Natural Resources in the Eagle Fordtale play ada 40 per cent WI partesip wwithhovron, Aovonting indestey the company is unlikely to inves merein explain in the US in « lower price Besides RIL, GAIL olde 20 pe cet stk in ‘Contac ros Page 10 surculun sue chain and ‘ealticre ‘A tiege for specialty chemical players is the expected ise in importers Tooking for an alternative sapply ein especlly the context” of the coronavirus outbreak Surya Pariof Pili Capt belies tht eof d= fishing of input procurement rom China by ‘lobal chemical leaders foffees export sales ‘opportunity for the Tian players. 11s along those Eagle Fon shale of Casa Oi & Gas, In 2013, the empany ed up to impor 2.3 millon omiay (MT) of ligutiod natal pos (LNG) Fie sears ram Cove Pin ‘Asimiarconira or 38M ‘vas signed with Chenier Energy's Sabine Pass prjectin Louisiana, 102017, seid one of its shale assets for $126 milion. athind ofthe prceit Pai seven years, ai 2 downturn in global oi Prices Tis share of shale eduction ese 20 percent Inthe quarter ending December 2019 at 23.9, hiton cui fet even improved 2.8 per ent 10 SBOSIMCFe, over the ‘artes ending September 2019, wih improved pies ‘of natural ga iid. The feallsations. would fall Furher because of alck of demand, leading © lower prosuction ‘Acco Dan exesuivedrestr foi ‘markets midstream and townsreom at FS Mr caplorsion and prosition ompanis inthe US willl tinder immense pressure to Fremasth lines hat Japan has sarmarked «$2.2 bln help its manufacturers 0 shift production ont of China. Frequent supply stsuptions ia China (stated ‘vith environmental issues tnd subsequently led by Covid 19) and disproportionate tdspendency of MNCS on Chinese supplies has sey ese in miphe fatly developments in ‘iting mantacrrngt dia, he us ‘What should ao Help reduce spending and tive ‘within cash How, could lead io many bankruptcies (amor ‘Amerieen companies). However, siven the uncertainties ftom te pander ad its fallout on ot demand ond slohal economy, i be Unlikely to see many mergers and aquisiions, ‘xtich woul start once the market stabilises. sid Das India has. bought sale oi ant gas parcels from dhe US in the past, ut the logistics of shipping toes not bly, Ciragie les sup quanti inode o ea snbitrage out af the Sinpine cost porting Under terms where the export bears the shiping cost oF cost and freight firangemest could however, be beneficial considering the low il cou, However, Indian ema ha nls shrank besa ofthe nation Took, Accoding 0 Das, the strategy ofineressing cae oil impons from the US takes sense in terms of Aiversiieation of supply sures ami the restaiat ff Organization of the Petroleum Expocting Coumiries’ (OPEC's) members. “However the vaiebifity of ere ois fom the US could be challenging as US production will decline Filly thie year and nex ‘comps in this space is the depreciation of the rupee and. the sharp

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