Morning Update – 7th December 2023

SSL Research Morning Update 7th December 2023

Equity Market Update

Expect a flat opening for our market today

India's benchmark indices closed at a record high for the third consecutive day on Wednesday led by gains in ITC,
L&T and Reliance Industries. The Nifty50/Sensex ended 0.4%/0.5% higher respectively. FIIs net sold Rs 79.9 cr while
DIIs pumped in Rs 1,372.2 cr.

The US benchmark indices ended lower overnight with all the three benchmark indices closing in the red. Brent
crude corrected further ending below the $75/barrel mark. This is structurally positive for the Indian markets. The
Asian markets are currently trading lower post the weak handover from the US. We expect a flat opening for our
market today.

Key Actionable

• Bharat Electronics: The company received orders worth Rs 3,915 crore for the supply of various defence
equipment. - Positive in medium to long term

• IRCON International: Government to sell an 8% stake via OFS at a floor price of Rs 154 per share, 4% of
which includes base size and green shoe of 4%. OFS to non-retail to open on Dec. 7 and for retail on Dec. 8
- Neutral in the short term

• Delta Corp: The High Court of Calcutta has granted interim relief to subsidiary Deltatech Gaming of Rs 6,384
crore for which a GST notice was sent in October. - Positive in the short term

• Network18 Media & Investments: The company will merge its television and digital news businesses with
itself. Under the scheme of amalgamation, TV18 Broadcast shareholders will get 100 fully paid-up equity
shares of Rs 5 each of Network18 for every 172 equity shares held in the broadcast company. - Positive in
the long term

• Dr. Reddy’s Laboratories: The drugmaker and Coya Therapeutics entered into a collaboration for the
development and commercialization of COYA 302, an investigational combination therapy for the
treatment of Amyotrophic Lateral Sclerosis. The company will make an upfront payment of $7.5 million to
Coya for the development and commercialisation deal, and the company will obtain commercialization
rights in the U.S., Canada, the EU, and the U.K. – Positive in long term

• RITES: The company signed an MoU with Meghalaya Industrial Development Corp. for developing multi-
modal logistics projects – Positive in the long term

• Brigade Enterprises: The company signed a joint development agreement for office space in Bangalore
with a development value of Rs 500 crore – Positive in short to medium term

• Jtekt India: The company has approved capacity expansion for MS-Gear Line from 2.0 million to 2.4 million
– Positive in long term

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Bulk Deals

• Ethos: Mahen Distribution sold 3.48 lakh shares (1.49%) and Eastspring Investments India Consumer Equity
Open bought 1.25 lakh shares (0.53%) at Rs 1,872 per share.
• Advance Enzyme Tech: Advanced Vital Enzymes sold 6.18 lakh shares (0.55%) at Rs 359.25 per share.
• Kesoram Industries: Morgan Stanley Asia Singapore Pte bought 21.32 lakh shares (0.68%) at Rs 154.17 per
share.
• JTL Industries: Pranav Vijay Singla bought 9.14 lakh shares (0.53%) at Rs 200.62 per share and Societe
General bought 17 lakh shares (0.99%) at Rs 196.78 per share. Build Ash Constructions LLP sold 50 lakh
shares (2.93%) at Rs 195.82 per share, Kusum Bansal sold 13.8 lakh shares (0.81%) at Rs 196.36 per share,
Shilpa Bansal sold 13.45 lakh shares (0.79%) at Rs 196.99 per share, Mohinder Pal sold 19.08 lakh shares
(1.12%) at Rs 200.25 per share, Mukesh Kumar sold 50 lakh shares (2.93%) at Rs 199.23 per share, BNP
Paribas Arbitrage sold 9.59 lakh shares (0.56%) at Rs 200.29 per share, and Shilpa Bansal sold 32 lakh shares
(1.87%) at Rs 204.03 per share.
• Shalimar Paints: Shivang Jhunjhnuwala, Sarika Jhunjhnuwala, Surya Kumar Jhunjhnuwala, Ritu
Jhunjhnuwala, and Gaurang Jhunjhnuwala sold 74.08 lakh shares (8.84%) and Hella Infra Market bought
32.83 lakh shares (4.54%) between Rs 178 and 180.1 per share.
• Capacite Infraproject: Infinity Asset Advisors Private Limited sold 6.05 lakh shares (0.82%) at Rs 255.31 per
share.
• Swan Energy: 2I Capital PCC sold 15.9 lakh shares (0.6%) at Rs 437.51 per share.
• TV18 Broadcast: Quant Mutual Active Fund bought 10.7 lakh shares (0.62%) at Rs 55.32 per share

Insider Trades

• Choice International: Promoter group Patodia Properties bought 1.25 lakh shares on Dec. 4. Promoter
group NS Technical Consultancy bought 4.25 lakh shares on Dec. 5.
• Advanced Enzyme Technologies: Promoter group Advanced Vital Enzymes sold 1.08 lakh shares between
Dec. 4 and 5.
• Computer Age Management Services: Promoter Great Terrain Investment sold 97.59 lakh shares on Dec.
4.
• Ethos: Promoter Mahen Distribution sold 2.01 lakh shares between Dec. 4 and 5.
• Cigniti Technologies: Promoter CV Subramanyam sold 10,000 shares on Dec. 4.

Pledge Share Details

• Genus Power: Promoter Kailash Chandra Agarwal created a pledge of 22 lakh shares on Dec. 1.
• Kuantum Papers: Promoter Kapedome Enterprises revoked a pledge of 1.84 crore shares on Dec. 6.

Trading Tweaks

• Price band revised from 10% to 20%: Fertilizers and Chemicals Tranvacore, Focus Lightening and Fixtures,
Hardwyn, Olectra Greentech, Orchid Pharma, PC Jeweller, Senco Gold, Tatva Chintan pharma chem.
• Price band revised from 20% to 10%: Adani Green, Adani Total Gas.
• Price band revised from 5% to 10%: Axiscades Technologies, Dhani Services, Kamdhenu Ventures, KPI
Green Energy, MMTC, Nagarjuna Fertilizers and Chemicals, Patanjali foods, Premier Explosives, PTC
Industries, Sanghi Industries, Thomas Cook.
• Price band revised from 5% to 20%: Axita Cotton, Brightcom Group, Patel Engineering.
• Move into a short-term ASM framework: Cantabil Retail India, Datamatics Global Services
• Move out of short-term ASM framework: Sequent Scientific.

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Analyst Meet

• Sapphire Foods: To meet investors and analysts on Dec. 11.

• Syngene International: To meet investors and analysts on Dec. 22.
• The Anup Engineering: To meet investors and analysts on Dec. 11 and 12.
• Eris Lifesciences: To meet investors and analysts on Dec. 11.
• UNO Minda: To meet investors and analysts on Dec. 7.
• Crompton Greaves Consumer Electricals: To meet investors and analysts on Dec. 11.
• Capri Global Capital: To meet investors and analysts on Dec. 8.
• Havells India: To meet investors and analysts on Dec. 12.
• Greaves Cotton: To meet investors and analysts on Dec. 8.
• Quick Heal Technologies: To meet investors and analysts on Dec. 11.

Fund Flows – Cash Market

• FII (Rs cr): -79.9

• DII (Rs cr): +1,372.2

Source: BSE/NSE/Economic Times/Bloomberg Quint/Business Line/Business Standard/Financial Express/Money

control

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the research analysts ("Analysts") employed by SBICAP Securities Limited (SSL) about any and all of the subject
issuer(s) or company(ies) or securities. This report has been prepared based upon information available to the public
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The Analysts engaged in preparation of this Report or his/her relative:-
(a) do not have any financial interests in the subject company mentioned in this Report; (b) do not own 1% or
more of the equity securities of the subject company mentioned in the report as of the last day of the month
preceding the publication of the research report; (c) do not have any material conflict of interest at the time
of publication of the Report.
The Analysts engaged in preparation of this Report:-
(a) have not received any compensation from the subject company in the past twelve months; (b) have not managed
or co-managed public offering of securities for the subject company in the past twelve months; (c)have not received
any compensation for investment banking or merchant banking or brokerage services from the subject company in
the past twelve months; (d) have not received any compensation for products or services other than investment
banking or merchant banking or brokerage services from the subject company in the past twelve months; (e) has
not received any compensation or other benefits from the subject company or third party in connection with the
Report; (f) has not served as an officer, director or employee of the subject company; (g) is not engaged in market
making activity for the subject company.

Name Qualification Designation

Sudeep Shah MMS-Finance DVP- Technical & Derivative Research
Sunny Agrawal B.E, MBA (Finance) DVP - Fundamental Research
Rajesh Gupta PGDBM (Finance), MA (Bus. Eco) AVP - Fundamental Research
Monica Chauhan C.A. Research Analyst - Equity Fundamentals
Harsh Vasa CA Research Analyst - Equity Fundamentals
Sumeet Shah B.E., CFA Research Analyst - Equity Fundamentals
Sweta Padhi MBA (Finance) Research Analyst - Equity Fundamentals
Gautam Updhyaya MBA (Finance) Research Analyst - Equity Derivatives
Vinayak Gangule BE (IT) Research Analyst - Equity Technicals
Pratik Patni BSc (Biotech Entire) Research Analyst- Equity Derivatives
Ghanshyam Gupta MBA (Finance) Research Analyst- Currency Derivative
Sagar Peswani B.Tech (ECE) Research Associate - Equity Technicals
Uday Chandgothia B.Tech (Mech), MBA (Finance) Research Associate - Equity Fundamentals
Kalpesh Mangade B.Com MIS Analyst - Retail Research

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