The Weekly Wrap Up March 13, 2020

13 Mar 2020

DOMESTIC:

PTC India won consulting projects worth Rs75cr from Energy Efficiency Services

Natco Pharma completes USFDA inspection with single observation for its Hyderabad unit

USFDA accepts Biocon-Mylan's Avastin biosimilar application for review

Infosys company joined Qualcomm Smart Cities Accelerator Program to offer smart cities solutions

KPIT Technologies to buy 78.5% stake in Vayavya Labs for Rs24.56cr

PNC Infratech bags Rs3,582cr orders from NHAI

Adani Enterprises wins Rs1,546cr project from NHAI

NBCC India bags orders worth Rs129cr in February

HDFC, Kotak to join SBI in Yes Bank rescue plan

SBI to invest Rs7,250cr in Yes Bank as part of RBI rescue plan

Airtel acquires stake in digital fitness start-up Spectacom

Wipro to co-develop solutions with SAP for retail and fashion industry

NCLAT clears insolvency resolution framework for IL&FS proposed by govt

Tata Sons buys shares worth Rs356cr of 3 group firms

ECONOMY:

RBI receives Rs1.71tn in LTRO

UBS cuts India GDP growth forecast to 5.1% for FY21

January industrial output expands 2%; retail inflation in February eases

INDUSTRY:

Coronavirus: Meat, rice, Pharma exporters worried

Vehicle production may be critically hampered due to coronavirus outbreak: SIAM

National Pharmaceutical Pricing Authority seeks drug stock, pricing data

Highlights of the Week

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The Week That Went By:

Global turmoil continued across the globe and Indian markets followed the same with a gap-down opening and continued to trade lower. Without any pullback, hammering extended across the board and Index slipped below the psychological level of 10,000. On the last day of the week, for the first time, lower circuit was seen followed by the strong recovery of all time. Nifty 50=9955.20 BSE Sensex30=34103.48 Nifty Midcap 100=14608.10 Nifty Smallcap100=4721.60

COVERAGE NEWS:

The Indian Hume Pipe Co Ltd: The company has received LoA for the work of Rs4,923mn (excluding GST) from Minor Irrigation & Ground Water Development Division, Koppal, Govt. of Karnataka. The project is to be completed within three years. Additionally, the company has received LoA for the work of Rs3575.3mn for providing dedicated water supply to Madurai City Municipal Corporation. The project is to be completed within 30 months followed by 6 months trial run and commissioning.

Hikal Ltd: The company has received a notice from Maharashtra Pollution Control Board (MPCB) for closure of its Mahad Unit on the basis of complaint from the local community with regard to tanker carrying by-product of Hikal found near the river Kasadi in Taloja. The company has filed in the Bombay High Court a writ petition for stay and indicated possibility of some impact on operations until this matter is resolved. However, in the latest release, the company informed that there is no closure at its Mahad unit which had received a notice from MPCB. This facility contributes around 16% of the turnover (~Rs2600mn). Hikal is working towards resolving the matter amicably and expects a positive outcome.

Supreme Petrochem Ltd: The company has informed about buyback of company’s shares of FV of Rs10, subject to price not exceeding Rs185 and a maximum of 41 lakh shares. The total amount to be incurred for the buyback, including various other expenses, will not exceed Rs626.7mn. The company will provide relevant updates in relation to the buyback as per applicable law in due course.

ICICI Bank Ltd: The bank has informed that its board has approved equity investment up to Rs10bn, comprising of maximum 1bn equity shares of Rs10 each. This investment is likely to result in the bank holding in excess of 5% shareholding in Yes Bank Limited; final shareholding will depend on restructured plan.

FUNDAMENTAL PICK:

Paushak Limited: CMP- Rs2210 | Target Price- Rs3200| Horizon- 12 months| Industry-Specialty Chemicals

Recommendations adjusted as per Corporate Actions

Company Reco Target Corp Action Adj Price Adj Tgt Price

Appreciation

IHP Ltd 341 600 Bonus 1 : 1 171 500 -14%

Engineers India Ltd 211 200 Bonus 1 : 1 105 200 -42%

Gulshan Polyols Ltd 390 500 Stock Split from Rs.FV 5 to Rs.FV 1 110 78 -59%

Nesco Ltd 2397 3200 Stock Split from Rs.FV 10 to Rs.FV 2 479 640 25%

Castrol India Ltd 447 550 Bonus 1 : 1 223 200 -45%

Hikal Ltd 143 325 Bonus 1 : 2 95 216 -8%

*Castrol, Vesuvius– Dec Ending | Siemens—Sept Ending|

13 Mar 2020

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Coverage Universe Valuations Company Reco Reco at

(Rs) CMP (Rs)

Tgt price (Rs)

Appreciation 1M Var 3M Var 12M Var

Supreme Petrochem Ltd BUY 77 130 275 69% -27.3% -11.3% -42.2%

Shanthi Gears Ltd BUY 107 71 150 -33% -24.8% -27.5% -43.5%

Hind Rectifiers Ltd BUY 69 142 275 106% -26.5% -30.8% 18.8%

KCP Ltd BUY 71 51 105 -28% -19.9% -15.5% -46.1%

The Hitech Gears Ltd BUY 298 114 300 -62% -29.6% -27.4% -65.0%

Bharat Bijlee Ltd BUY 787 612 1500 -22% -24.8% -21.9% -46.2%

Triveni Turbines Ltd BUY 92 76 150 -17% -18.0% -18.3% -37.2%

Siemens Ltd BUY 1128 1233 1750 9% -13.2% -16.8% 17.5%

GMM Pfaudler Ltd BUY 332 2800 3200 743% -16.6% 72.5% 114.6%

Alicon Castalloy Ltd BUY 288 233 650 -19% -35.5% -34.7% -59.5%

Gufic Biosciences Ltd BUY 50 59 120 18% -22.8% -5.2% -23.9%

Excel Industries Ltd BUY 380 530 1200 39% -32.4% -33.5% -56.5%

Vesuvius India Ltd BUY 1165 1000 1300 -14% -9.4% -9.1% -16.7%

Munjal Showa Ltd BUY 191 72 191 -62% -40.0% -40.0% -59.2%

Bharat Rasayan Ltd BUY 2747 6340 9000 131% -15.6% 4.2% 41.4%

Alkyl Amines Chemicals Ltd BUY 391 1308 1700 235% -15.8% 26.5% 110.5%

Grauer and Weil (India) Ltd BUY 45 45 65 1% -13.3% -5.9% -16.0%

Texmaco Rail & Engineering Ltd BUY 91 20 91 -78% -41.4% -40.6% -72.0%

Nagarjuna Agrichem Ltd BUY 29 23 45 -20% -28.9% -10.0% -23.9%

ITD Cementation India Ltd BUY 158 45 100 -72% -27.8% -12.7% -66.5%

Westlife Development Ltd BUY 266 369 450 39% -21.3% 7.5% -9.9%

Dynamatic Technologies Ltd BUY 2160 750 1700 -65% -25.1% -21.2% -52.9%

Hitech Corporation Ltd BUY 175 59 125 -66% -62.3% -29.5% -46.7%

NRB Bearings Ltd BUY 138 70 138 -49% -26.7% -23.2% -64.7%

Kokuyo Camlin Ltd BUY 132 58 132 -56% -19.4% -24.0% -41.5%

Timken India Ltd BUY 883 941 1250 7% -8.0% 7.0% 63.1%

Morganite Crucible (India) Ltd BUY 1047 1687 2500 61% 5.4% 11.0% 14.6%

Vardhman Special Steels Ltd BUY 151 57 110 -62% -18.6% -10.2% -49.1%

Zen Technologies Ltd BUY 115 33 125 -71% -42.1% -40.2% -57.3%

KSB Ltd BUY 820 594 1100 -28% -15.8% -8.6% -16.8%

Thermax Ltd BUY 1019 834 1230 -18% -16.5% -17.6% -20.5%

Transpek Industry Ltd BUY 1547 1495 2000 -3% -13.4% 28.0% -6.3%

BASF India Ltd BUY 1954 1094 1400 -44% 24.8% 12.0% -25.7%

Artson Engineering Ltd BUY 64 23 55 -63% -37.4% -16.3% -49.6%

Remsons Industries Ltd BUY 104 53 130 -49% -35.8% -28.1% -39.2%

Snowman Logistics Ltd BUY 33 29 55 -11% -32.1% -23.3% -12.9%

Alembic Pharmaceuticals Ltd BUY 605 575 751 -5% -9.9% 4.0% 4.5%

SKF India Ltd BUY 1942 1772 2620 -9% -12.1% -16.7% -9.0%

HFCL Ltd BUY 25 11 25 -57% -37.0% -38.1% -56.6%

Sudarshan Chemical Industries Ltd BUY 372 364 500 -2% -20.5% -7.5% 5.4%

Huhtamaki PPL Ltd BUY 254 232 320 -9% -6.5% -7.4% 14.3%

Mishra Dhatu Nigam Ltd BUY 123 223 190 82% 23.0% 43.7% 60.3%

Anuh Pharma Ltd BUY 142 131 175 -8% -8.7% 4.4% -7.4%

Kirloskar Pneumatic Co. Ltd BUY 134 125 192 -7% -11.7% 3.9% -32.6%

Integra Engineering India Ltd BUY 37 27 50 -27% -23.8% -30.6% -49.8%

ICICI Bank Ltd BUY 535 447 657 -16% -17.3% -16.7% 14.2%

Srikalahasthi Pipes Ltd BUY 205 170 250 -17% -22.4% 6.6% -24.4%

Acrysil Ltd BUY 115 87 150 -25% -30.7% -7.9% -26.5%

Paushak Ltd BUY 2210 2245 3200 2% -15.6% -8.1% 0.7%

IHP Ltd BUY 171 147 500 -14% -33.5% -27.6% -0.9%

Engineers India Ltd BUY 105 61 200 -42% -31.1% -41.4% 8.8%

Gulshan Polyols Ltd BUY 78 32 78 -59% -28.4% -13.7% -43.4%

Nesco Ltd BUY 479 597 800 25% -20.6% -5.7% 30.7%

Castrol India Ltd BUY 223 124 200 -45% -21.1% -5.6% 48.2%

Hikal Ltd BUY 95 88 175 -8% -30.0% -19.3% -20.5%

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24 Jan 2020

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Due to corona virus fear, big cuts were witnessed in almost all sector. Looking at the monthly chart, Nifty and Nifty Bank sharply bounced from the lower end of the channel which indicates possible bottom but to confirm the same some stabilization/consolidation is required.

MARKET OUTLOOK

NIFTY (WEEKLY)

BANK NIFTY (WEEKLY)

13 Mar 2020

Page No 4

24 Jan 2020

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NIFTY 50 COMPONENTS (WEEKLY PERFORMANCE)

SECTORAL PERFORMANCE

HDFC Bank -5.29

Hero Motocorp -6.40

Hindalco -13.89

HUL -5.85

ICICI Bank -7.37

Indusind Bank -19.80

Infratel 12.85

INFY -11.75

IOC -8.78

ITC -9.92

Jsw Steel -10.02

Kotak Bank -9.55

LT -8.21

M&M -5.39

Maruti -7.71

Nestle India -8.66

NTPC -5.01

ONGC -24.46

PowerGrid -11.82

Reliance -12.04

SBIN -9.47

Sun Pharma -3.52

Tata Motors -20.47

Tata Steel -6.36

TCS -13.96

Tech Mahindra -10.52

TITAN -12.63

Ultratech -9.14

UPL -19.76

VEDL -23.38

Wipro -10.86

Yes Bank 53.61

Zee Entertainment -17.26

Adani Ports -13.54

Asian Paints -4.48

Axis Bank -12.11

Bajaj Auto -12.24

Bajaj Finserv -10.14

Bajaj Finance -6.44

Bharti Airtel -5.69

BPCL -5.81

Britannia -10.36

Cipla -1.44

Coal India -8.08

DR Reddy’s Labs -7.51

Eicher Motors -0.01

Gail -21.54

Grasim -8.49

HCL Tech -12.50

HDFC -1.75

13 Mar 2020

* Gain/ Loss in %

Media sector continued to register record lows as sector ended the week with a huge cut of 16%. It was the sea of red as almost all the components ended the week with a loss in the range of 14%-16%.

Page No 5

SECTORAL LOSER

13 Mar 2020

With the Market sentiment being bearish all the sectors have ended the week on a negative note.

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