SHORT - TERM CALLs

DONEAR CMP 102 TGT 110-118 SL 94

JTEKT CMP 164.5 TGT 173-180 SL 157

HITS 223

ADF FOOD CMP 215 ADDING FOR 225-240++ WITH KEEPING SL 195

*Economic Calendar – 05.06.2024* 10:30 INDIA HSBC Service PMI (Expected: 61.4 versus Previous: 60.8) 14:00 U.K. Final Service PMI (Expected: 52.9 versus Previous: 52.9) *17:45 U.S. ADP Non-Farm Payroll (Expected: 173k versus Previous: 192K)* *19:30 U.S. ISM Service PMI (Expected: 51.0 versus Previous: 49.4)*

*Fund Houses Recommendations* GS on Election Results: Buy the weakness; Strong Earnings delivery to drive returns, Overweight on *Auto, Telecom, Industrials and Insurance* (Positive) CLSA on Election Results: Doubts openly question near record premium of SMIDs & recent re-rating of Modi Stocks, Private banks, IT, insurance and commodities are preferred sectors. Replace L&T with HCL Tech (Neutral) Bernstein on Election Results: Retain view of high single-digit returns; Nifty target Rs 23,500 (Neutral) Jefferies on Election Results: PM Modi losing simple majority was unexpected, our base case remains a coalition govt led by PM Modi (Neutral) Axis Cap on Election Results: Limited impact on administrative and legislative changes; fiscal consolidation to continue. (Neutral) DAM on Election Results: PSBs cyclical valuations: Some room in select banks despite the fall (Neutral) UBS on Election Results: Political outcome suggests weak sentiment at lower end of the income pyramid, underweight on India (Negative)

*India Daybook – Stocks in News* *LTI Mindtree:* Strategic Partnership with SAP to pioneer Digital Solutions for Complex Manufacturing (Positive) *GPT Infra:* Company bags order worth ₹547 cr from RVNL (Positive) *Punjab National Bank:* Company Board approves diluting 10% stake Canara HSBC Life Ins by listing it on NSE/BSE via IPO (Positive) *CONCOR and Shipping Corp:* Both companies have inked MoU to provide seamless end to end logistics solution (Positive) *Wipro:* Company in pact with Zscaler for AI-assisted decision support platform Wipro Cyber X-Ray (Positive) *Infosys*: Company collaborates with Japan-Based Nihon Chouzai to expand healthcare access in Japan (Positive) *Jindal Stainless:* Company completes acquisition of Evergreat International Investment, Singapore. (Positive) *Shilpa Medicare:* Arm filed application with USFDA for serum products. (Positive) *IKIO Lighting:* Commenced commercial production at the Factory Situated in Noida (Positive) *Oil downstream stocks:* Brent crude below $78/bbl-Lowest Since Februrary 2024 (Positive) *VPRPL:* Company's order book as on march 31 stands at about 47.17b rupees to be executed over next 24-36 months (Positive) *Vodafone Idea:* CARE Ratings revised rating assigned to long-term bank facilities to CARE BB+ from CARE B+ with outlook maintained as Stable (Positive) *NLC India:* Company to consider raising foreign currency loan of up to $600 million on June 10 (Neutral) *VIP Ind:* Company announced the resignation of Nisaba Godrej as Independent Director of the company on 03 June 2024. (Neutral) *Tata Motors:* Board approves set up of wholly-owned subsidiary (Neutral) *Sun Pharma:* Company submits marketing authorization application to EMA for approval of Nidlegy. (Neutral) *Ashok Leyland:* Company launches 'Sarathi Suraksha' policy aimed at safeguarding driver community. (Neutral) *State Bank:* Board meeting intimation for long term fund raising upto $3 bn (Neutral) *NLC India:* Company to consider raising foreign currency loan of up to $600 million on June 10. (Neutral) *Filatex Fashions:* Company Board will meet on 07 June 2024 to consider stock split of equity shares of the company from face value of Rs 5 to Re 1 per share. (Neutral) *Vakrangee:* Company to acquire further 48.5% stake in Vortex Engineering. (Neutral) *Hindalco:* Novelis delays billion dollar #IPO citing market conditions, new timeline unclear (Negative)

*News Headlines from Business News Agencies:* *Business Standard* 📝 Govt revises upwards wheat output to record 112.92 mn tonne for 2023-24 📝 Working to certify AI memory chips of Samsung, Micron Technology: Nvidia 📝 Tata Motors board okays to incorporate new wholly-owned unit for CV biz 📝 Intel launches new Xeon server processors amid competition with AMD 📝 Opec oil output increases in May, led by Nigeria, Iraq, survey shows 📝 MediaTek announces Kompanio 838 chipset for AI-powered Chromebooks 📝 Netherlands emerges as India's 3rd largest export destination in 2023-24 📝 Volvo to issue world's first EV battery passport ahead of EU regulations 📝 Airbus unveils concept of unmanned wingman protecting manned fighter jets 📝 BOJ must be vigilant to yen's impact on economy, says Dy Guv Himino 📝 Toyota, Mazda halt shipments as Japanese auto safety scandal widens *Economic Times* 📝 Air India ties up with Delhi Metro, DIAL to facilitate check-in for international passengers 📝 Wipro in pact with Zscaler for AI-assisted decision support platform Wipro Cyber X-Ray 📝 Indian Railways registers highest ever freight loading in May 2024 📝 TSMC says it has discussed moving fabs out of Taiwan, but such a move impossible 📝 Haryana government to launch Rs 10,000-crore project to combat air pollution 📝 IATA boss warns foreign airlines may quit India if taxation issues are not sorted 📝 Cashfree Payments appoints Abhaya Hota as independent director 📝 India VIX jumps 44%, registers highest single-day gain in 9 years 📝 Microsoft hit with Austrian privacy complaints over its education programme 📝 Telcos now targeting T20 cricket world cup to boost data usage, ARPU *Mint* 📝 Private equity puts brakes on healthcare roll-ups after government scrutiny 📝 Hitachi, Microsoft plan for multibillion-dollar AI partnership 📝 Q4 results review: Banks, autos drive earnings; Nifty 50 PAT jumps 12% YoY 📝 Brigade Enterprises gears up for FY25 with thrust on commercial segment 📝 Sebi proposes auction method for better price discovery for investment firms 📝 NTPC eyes on 10GW nuclear capacity and on new subsidiary 📝 Cheap Vietnamese steel imports start their ascent in Indian domestic market 📝 Zee plans to raise funds via share sale, calls board meeting on 6 June 📝 Apple delays ‘Foldable Phone’ launch until 2027: Report 📝 Airbus in talks to sell more than 100 widebody jets to China

*Indian Equities Pre Open Update* Indian equities expected to open with flat note, however higher volatility to prevail after roller coaster session of previous trading day. *Global Peers Update:* Asian markets are trading in the green zone leaded by sharp recovery in Hang Seng. The U.S. stock index futures in green zone as a swathe of weak U.S. economic readings ramped up hopes that the Federal Reserve will have to eventually cut interest rates to support growth. *Sectors to Watch:* Consumer, Healthcare and Technology stocks likely to remain on focus while resistive move expected on Energy and Metal sector stocks during the day. *GIFT NIFTY Price* 22039.0 *Adjusted Change:* +121.0 Points, Percent Change: +0.55% *Technical Levels: Nifty Near Future* *Support*: 21781.0/21584.0 *Resistance*: 22280.0/22404.0 *Technical Levels: Bank Nifty Near Future* *Support*: 46822.0/46559.0 *Resistance*: 47804.0/48030.0

#InstitutionalActivity - Provisional 4th June 2024 FII net sold ₹12436 cr DII net sold ₹3318 cr