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SSL Research Morning Update 20th August 2024
Equity Market Update

Expect a flat to positive start for our market today
Amid positive global cues, Indian benchmark indices ended flat on Monday. Among sectors, except Auto and Bank,
all the other indices ended higher with Healthcare, IT, Metal, Oil & Gas, Power, Telecom, Media closing up 0.5%
2%. The BSE Midcap index was up 0.5% while Smallcap added 1%. On the liquidity front, FIIs net sold Rs 2,667 cr
while DIIs net bought Rs 1,803 cr in cash market on Monday.
The US market continued its rally for the eight consecutive day. Dow/S&P 500/Nasdaq ended higher by 237/54/245
points respectively. S&P 500 is now only ~1% below its record high. The Asian markets are currently trading with a
positive bias. We expect a flat to positive start for our market today.

Key Actionable

• Tata Motors: The company sets Sept. 1 as the record date for determining shareholders eligible for DVR
share swaps – Neutral in short term

• Bajaj Auto: The company will make a Rs 211 crore provision in the second quarter due to the withdrawal
of the indexation benefit and the change in tax rate – Marginally negative in short term

• IndusInd Bank: The bank received the RBI’s nod for undertaking mutual fund business via a new subsidiary – Positive in long term

• Vedanta: The company’s shareholding in Hindustan Zinc was reduced to 63.42% after an offer for sale –
Neutral in short term

• Hazoor Multi Projects: The company emerged as the lowest bidder for Maharashtra State Infra
Development Corp.’s project worth Rs 274 crore – Positive in short to medium term

• Poly Medicure: The company opened its qualified institutional placement and set the floor price at Rs
1,880.69 per share – Positive in short term

• Sequent Scientific: The company received prequalification approval from the World Health Organisation
for albendazole, an active pharmaceutical ingredient – Neutral to Positive in short term

• Hi-Tech Pipes: The company approved raising Rs 600 crore via QIP or other means – Positive in short term

• Motilal Oswal Financial Services: The company approved the proposal to raise Rs 200 crore through non
convertible debentures on a private placement basis – Neutral in short term

Morning Update – 20th August 2024
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• Zomato Ltd: Antfin Singapore will likely sell shares in Zomato worth $408 million at floor price of Rs 251.68
per share via block deal – Marginally negative in short term

• Olectra Greentech: The company’s stake in a special purpose vehicle for executing a MSRTC contract falls
to 1% from the initial 34% – Neutral in short term

• Share India Securities: The company has rescinded its investment by acquiring equity shares of DSM Fresh
Foods Ltd., considering the negative feedback received from the company’s investors and stakeholders –
Neutral in short term

• Suraj Estate: Board approves raising of funds via issue of 56 lakh shares to raise Rs 500 cr on preferential
basis through shares & warrants from non-promoters – Positive in short term

• DCM Shriram: Company successfully commissioned a new Hydrogen Peroxide (H₂O₂) plant – Positive in
long term

• Vishnu chemicals: Company announced 100% equity acquisition of Jayansree Pharma Pvt Ltd at an
enterprise value of Rs 51.99 cr – Neutral to Positive in long term

• Allcargo Logistics: International supply chain monthly operational volume for the month of July’24 stood
at 8,18,000 cubic meters similar to its highest ever monthly volume which was recorded in August’22 –
Positive in short term

• Nucleus Software: Board of Directors meeting is scheduled to be held on 22nd August to consider the
proposal for Buy Back of Equity Shares of the company – Positive in short term

• Finkurve Financial: Company has entered into a co-lending arrangement with RBL bank. This collaboration
establishes a significant strategic partnership aimed for offering gold loan – Positive in short term

• Sapphire Foods: KFC operator sets 05th September as record date for upcoming stock split – Neutral in
short term

• Tata Consumer: Company announces completion of its Rs 3,000 crore rights issue – Neutral in short term


Listing day
• Saraswati Saree Depot: The company’s shares will debut at an issue price of Rs 160 on the stock exchanges
on Tuesday. The Rs 160-crore IPO was subscribed 107.52 times on its third and final day. The bids were led
by non-institutional investors (358.65 times), institutional investors (64.12 times), and retail investors
(61.88 times).

IPO offering
• Interarch Building Products: The public issue was subscribed 3.2 times on day 1. The bids were led by non
institutional investors (7.85 times), retail investors (2.76 times), and qualified institutional investors (0.27
times).

Trading Tweaks
• Ex/record dividend: Balkrishna Industries, IRB Infrastructure Developers, Titagarh Rail Systems, Dr Lal Path
Labs, the Phoenix Mills, PI Industries, Rain Industries, Sun TV Network, Apar Industries, AIA Engineering,
the South Indian Bank, and JK Paper.
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• Ex/record AGM: Titagarh Rail Systems, Apar Industries, The South Indian Bank, Vodafone Idea, JK Paper,
Saregama India.
• Ex/record buyback: AIA Engineering.
• Moved out short-term ASM Framework: Mukka Proteins.


Bulk Deals – NSE
Name of the Company Name of the Client BUY/ SELL Price (Rs) Quantity % Traded
PRUDENT CORPORATE SOCIETE GENERALE BUY 2,450.00 2,75,000 0.70%
PRUDENT CORPORATE RAMESHCHANDRA CHIMANLAL SHAH SELL 2,450.00 6,12,400 1.50%
PRUDENT CORPORATE SANJAY RAMESHCHANDRA SHAH SELL 2,450.10 4,12,250 1.00%
ETHOS BANDHAN MUTUAL FUND BUY 3,346.00 1,60,000 0.70%
ETHOS MAHEN DISTRIBUTION LIMITED SELL 3,346.00 1,60,000 0.70%
ETHOS MASTER CAPITAL SERVICES LIMITED SELL 3,346.00 1,40,000 0.60%
UJJIVAN SMALL FINANCE ARDISIA LIMITED SELL 41.1 1,70,00,000 0.90%
ZAGGLE PREPAID ZUZU SOFTWARE SERVICES LLP SELL 361.2 48,99,300 4.00%
DCX SYSTEMS UPADHYAYA AJAY SHIV NARAYAN BUY 338 15,00,000 1.40%
DCX SYSTEMS NEOMILE GROWTH FUND – SERIES I BUY 338 7,39,700 0.70%
DCX SYSTEMS NCBG HOLDINGS INC SELL 338 29,59,100 2.70%
DCX SYSTEMS NEOMILE GROWTH FUND – SERIES I SELL 337.4 47,726 0.00%
PRATAAP SNACKS RAJESH KUMAR MEHTA SELL 856.4 1,85,000 0.80%
KAMDHENU VENTURES ASHAPURA COMMODITIES SELL 38.1 19,00,000 0.60%
Deals shared for Companies with market cap above Rs 1,000 cr.

Bulk Deals – BSE
Name of the Company Name of the Client BUY/ SELL Price (Rs) Quantity % Traded
ERAAYA LIFESPACES BAL KRISHEN BUY 800 1,12,500 0.60%
Deals shared for Companies with market cap above Rs 1,000 cr.

Block Deals – NSE
Name of the
Company Name of the Client BUY/
SELL
Price
(Rs) Quantity %
Traded
SHRIRAM FINANCE BOFA SECURITIES EUROPE SA BUY 2,981.50 2,96,373 0.10%
SHRIRAM FINANCE SOCIETE GENERALE BUY 2,981.50 2,96,372 0.10%
SHRIRAM FINANCE
MARSHALL WACE INVESTMENT STRATEGIES –
EUREKA FUND SELL 2,981.50 5,92,745 0.20%
ETHOS BANDHAN MUTUAL FUND BUY 3,346.00 3,00,000 1.20%
ETHOS MAHEN DISTRIBUTION LIMITED SELL 3,346.00 1,60,000 0.70%
ETHOS MASTER CAPITAL SERVICES LIMITED SELL 3,346.00 1,40,000 0.60%
Deals shared for Companies with market cap above Rs 1,000 cr.

Fund Flows – Cash Market (19th August)

• FII (Rs cr): -2,667.5
• DII (Rs cr): +1,802.9

Source: BSE/NSE/Economic Times/Bloomberg Quint/Business Line/Business Standard/Financial Express/Money
control
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Analyst Certification: The views expressed in this research report (“Report”) accurately reflect the personal views of 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 and sources, believed to be reliable. I/We also certify that no part of my/our compensation was, is, or will be directly or
indirectly related to the specific recommendation(s) or view(s) in this report.
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
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

For other Disclosures please visit: https://bit.ly/R_disclaimer02




Sudeep Shah Sunny Agrawal
DVP – Technical & Derivative Research DVP – Fundamental Research