Morning Update – 15th December 2023

SSL Research Morning Update 15th December 2023

Equity Market Update

Market likely to extend gains on positive global cues

Indian equity benchmark indices rose to new life highs yesterday on dovish Fed monetary policy. Both Sensex and
Nifty gained more than 1% each at close with favourable advance-decline ratio. Except for Media, Consumer
Durable and Healthcare, all the other sectors ended positive on NSE. Robust FII buying continued in yesterday's
cash market as well as they net bought to the tune of Rs 3,570 cr.

After a volatile trading session, US market closed with minor gains on dovish Fed commentary that strengthened
expectations of lower borrowing cost in next year. Treasury yields slipping below 4% also supported US equities.
Both ECB and BoE held interest rates steady in their respective monetary policies. Asian market trends are currently
positive which indicates a green start for our market today.

Key Actionable

• Adani Enterprises: Israel-based defence electronics company Elbit Systems Ltd. picked up a 44% stake in
an Adani Defence Systems and Technologies Ltd. unit to develop and manufacture various autonomous
aerial technologies and systems for defence applications – Positive in long term

• Genus Power Infra: The company's unit received a letter of intent worth Rs 1,026 crore for the
appointment of advanced metering infrastructure service providers for the supply, installation, and
commissioning of a million smart prepaid metres – Positive in long term

• Jupiter Wagons: The company received an order worth Rs 1,617 crore from the Ministry of Railways to
manufacture and supply 4000 BOXNS wagons - Positive in long term

• Mahindra and Mahindra Finance: The company said that it will enter the life, health, and general insurance
segments to diversify its sources of income away from its primary vehicle lending business - Positive in long
term

• Texmaco Rail Engineering: The company received an order worth Rs 1,374.41 crore from the Ministry of
Railways to manufacture and supply 3,400 BOXNS wagons - Positive in long term

• Bharat Heavy Electricals: The company signed a MoU with the Central Manufacturing Technology Institute
for hydrogen value chain development and IIOT solutions for predictive maintenance of machines and
manufacturing processes - Positive in long term

• Exide Industries: The company invested Rs 100 crores in its unit, Exide Energy Solutions. The company’s
total investment in its unit is Rs 1,780 crore - Positive in long term

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 • Infibeam Avenues: The company announced its strategic foray into the capital markets and digital lending
software market by acquiring a 49% stake in Pirimid Fintech for Rs 25 crore to solidify this strategic
partnership - Positive in long term

• Mazagon Dock Shipbuilders: The company collaborated with NavAIt Kochi and launched the MDL solar
electric boat, which is the nation's fastest solar-electric boat - Positive in long term

• Ami Organics: The company announced the inauguration of its manufacturing plant in Ankleshwar, Gujarat.
It also signed another definitive agreement with Fermion to manufacture a couple of additional advanced
pharmaceutical intermediates for Fermion - Positive in long term

• Syrma SGS Technology: The company incorporated Syrma Strategic Electronics as a wholly-owned
subsidiary company – Neutral to Positive in long term

• Sterling and Wilson: The company received a settlement amount of Rs 254.2 crore from Jinko Solar over
an ongoing dispute – Positive in short term

Bulk Deals

• Fusion Micro Finance: Honey Rose Investment sold 64.57 lakh shares (6.39%) and Creation Investments
Fusion LLC sold 38.41 lakh shares (3.8%) at Rs 555.6 per share. HDFC Mutual Fund bought 31.29 lakh shares
(3.09%), Morgan Stanley Asia Singapore Pte bought 17.8 lakh shares (1.76%), Franklin Templeton Mutual
Fund bought 9 lakh shares (0.89%), Societe Generale bought 8.8 lakh shares (0.87%), Kotak Mahindra Life
Insurance bought 7.12 lakh shares (0.7%), Bajaj Allianz Life Insurance bought 6 lakh shares (0.59%) at Rs
555.6 per share.
• Onward Technologies: Onward Software Technologies Pvt. sold 10.99 lakh shares (4.9%) at Rs 563.75 per
share. Whiteoak Capital Mutual Fund bought 4.78 lakh shares (2.13%), White Oak India Equity Fund IV
bought 2.21 lakh shares (0.98%), India Acorn India Acorn Fund Limited bought 2.21 lakh shares (0.98%),
Ashoka India Equity Investment Trust PLC bought 1.77 lakh shares (0.79%) at Rs 563.75 per share.
• GMR Power and Urban Infra: ASN Investments sold 75 lakh shares (1.24%) at Rs 52.75 per share and Setu
Securities bought 40 lakh shares (0.66%) at Rs 52.5 per share.
• Senco Gold: Oman India Joint Investment Fund sold 6 lakh shares (0.77%) at Rs 746.19 per share.
• Zen Technologies: Tata AIA Life Insurance bought 20 lakh shares (2.37%) and Kishore Dutt Atluri sold 2.5
lakh shares (0.29%), Ravi Kumar Midathala sold 2.5 lakh shares (0.29%), Tara Dutt Atluri sold 15 lakh shares
(1.78%) at Rs 725 per share.

Insider Trades

• Kalyan Jewellers: Promoter Trikkur Sitarama Iyer Kalyanaraman bought 15,685 shares on Dec. 13.
Promoter group TS Balaraman sold 15,685 shares on Dec. 13.
• Choice International: Promoter group NS Technical Consultancy bought 3.5 lakh shares on Dec. 13.
• Advance Enzyme Technologies: Promoter group Advanced Vital Enzymes sold 2.74 lakh shares on Dec. 12.
• Thirumalai Chemical: Promoter group Narayan Santhanam sold 9,225 shares on Dec. 13.
• Bharat Bijlee: Promoter group Anand J. Danani sold 7,539 shares on Dec. 13.
• Shalimar Paints: Promoter group Hina Devi Goyal sold 99,880 shares between Dec.12 and 13.

Pledge Share Details

• Ajanta Pharma: Promoter Ravi Agarwal released a pledge of 28,607 shares on Dec. 13.

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 • Sterling and Wilson Renewable Energy: Promoter Shapoorji Pallonji and Co. released a pledge of 51 lakh
shares on Dec. 8.
• Genus Power Infrastructure: Promoter Kailash Chandra Agarwal released a pledge of 25 lakh shares on
Dec. 12.
• SMS Pharmaceuticals: Promoter group Vamsi Krishna Potluri released a pledge of 12.62 lakh shares on
Dec. 12. Promoter group Potluri Infra Projects LLP released a pledge of 38 lakh shares on Dec. 12.

Trading Tweaks

• Ex/record date Buyback: Somany Ceramics.

• Ex/record date AGM: Orissa Minerals Development Company, Suven Pharmaceuticals, Max Estates.
• Move into a short-term ASM framework: GMR Airport Infrastructure, GTL Infrastructure.
• Move Out short-term ASM framework: Cantabil Retail India, Datamatics Global Services, Manoj Vaibhav
Gems N Jewellers, Techno Electric and Engineering.

Analyst Meet

• Dr Lal Pathlabs: To meet investors and analysts on Dec. 20.

• Nelcast: To meet investors and analysts on Dec. 21.
• LT Foods: To meet investors and analysts on Dec. 19.
• Alkem Laboratories: To meet investors and analysts on Dec. 20.
• Triveni Engineering: To meet investors and analysts on Dec. 20.
• Patel Engineering: To meet investors and analysts on Dec. 26.
• Mold-Teck Packaging: To meet investors and analysts on Dec. 19.
• Godrej Consumer: To meet investors and analysts on Dec. 19.
• Tata Chemicals: To meet investors and analysts on Dec. 21.

Fund Flows – Cash Market

• FII (Rs cr): +3,570.1

• DII (Rs cr): +553.2

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

control

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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
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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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