Morning Insight

JUNE 06, 2025

% Chg News Highlights

5-Jun 1 Day 1 Mth 3 Mths
Indian Indices
 Niti Aayog plans to launch its first Investment Friendliness Index in
SENSEX Index 81,442 0.5 1.0 9.6 August. This index will help companies choose states for investment.
NIFTY Index 24,751 0.5 1.5 9.8 It considers factors like skilled manpower and infrastructure. The index
NSEBANK Index 55,761 0.2 2.7 14.7 aims to incentivize states to improve their investment climate. This
NIFTY 500 Index 22,935 0.6 4.5 12.2 initiative supports the national manufacturing mission. The index will
CNXMcap Index 58,303 0.7 9.1 18.1 measure opportunity and risk factors in each state. (ET)
BSESMCAP Index 18,433 1.0 13.8 19.7
World Indices  Indian tea prices have surged by 18% in the first four months of this
Dow Jones 42,320 (0.3) 3.7 (0.6) year. This is due to high demand from Russia, Iran, Iraq, and the UAE.
Nasdaq 19,298 (0.8) 9.1 6.8 Exports are expected to remain strong. Major consumer goods firms
FTSE 8,811 0.1 2.5 1.5 are increasing purchases. Auctioneers anticipate prices to stay firm.
NIKKEI 37,554 (0.5) 2.4 0.1 Packet tea sellers are hesitant to raise prices for local consumers. (ET)
Hangseng 23,907 1.1 5.3 (2.1)
Shanghai 3,384 0.2 2.0 0.1  India has pledged USD 20 billion towards infrastructure development,
prioritizing multimodal logistics, port connectivity, and trade
Value traded (Rs cr) 5-Jun % Chg Day
facilitation, according to Union Minister Sarbananda Sonowal. He
Cash BSE 7,266 (18.7)
emphasized India's growing maritime capabilities and called for greater
Cash NSE 117,116 5.7
Derivatives 176,641 49.2
partnerships in seafarer recruitment. Strategic corridors like IMEEC,
EMC, and INSTC are strengthening maritime connectivity and supply
Net inflows (US$ mn) 5-Jun MTD YTD chains. (ET)
FII (208) (4,576) (134,416)
Mutual Fund 2,382 16,171 301,072  Bajaj Finserv: Promoter entities are planning to sell shares worth Rs
5,800 crore via open market transactions on Friday. Bajaj Holdings and
Nifty Gainers & Losers Price Chg Vol
Investments and Jamnalal Sons are offering as many as 3.1 crore
5-Jun (Rs) (%) (mn)
shares or up to 1.94% stake via block deals. (NDTVProfit)
Gainers
Eternal Ltd 257 4.4 127.8  Ashok Leyland: The company received letters of intent worth Rs 1,387
Dr Reddy's Laboratories Ltd 1,291 3.1 3.8 crore from the Motors Vehicles Department. (NDTVProfit)
Trent Ltd 5,673 3.0 1.2
Losers
 JSW Energy: The company commissioned 281 MW of organic
IndusInd Bank Ltd 803 (1.4) 3.4 renewable energy capacity, including 215 MW of solar and 66 MW of
Tata Consumer Products Ltd 1,112 (1.1) 1.0 wind, taking its current installed capacity to 12,499 MW. Furthermore,
Axis Bank Ltd 1,159 (1.0) 10.5 its arm signed a power purchase agreement with Adani Electricity for a
STU-connected 250 MW wind capacity. (NDTVProfit)
Advances / Declines (BSE)
5-Jun A B T Total % total  Coal India: The company signed a non-binding MoU with Indian Port
Advances 430 712 137 1,279 56.9 Rail and Ropeway Corporation to develop rail infrastructure for Coal
Declines 281 545 118 944 42.0 India and its subsidiaries. (NDTVProfit)
Unchanged 6 13 6 25 1.1
 Praj Industries: The company signed an agreement with Paraguay-
Commodity % Chg based Enersur SA for a large-scale biorefinery project in Paraguay. The
5-Jun 1 Day 1 Mth 3 Mths
facility will produce ethanol along with co-products such as distillers
Crude (US$/BBL) 65.1 (0.3) 4.8 (6.2)
dried grains with solubles, corn oil, SAF, biogas, and bio bitumen.
Gold (US$/OZ) 3,353 (0.6) (1.8) 15.7
Silver (US$/OZ) 36 3.3 8.4 10.3
(NDTVProfit)
 Power Grid Corp: The company commissioned a transmission network
Debt / Forex Market* 5-Jun 1 Day 1 Mth 3 Mths
10 yr G-Sec yield % 6.2 6.2 6.4 6.7
expansion project in Gujarat. (NDTVProfit)
Re/US$ 85.8 85.8 84.4 87.1  Mphasis: The company launched a centre of excellence for financial
*Change, basis points services in Argentina. (NDTVProfit)
Nifty
 Tejas Networks: The company received Rs 123 crore from the Ministry
26,500
of Communications, Department of Telecommunications, under the PLI
25,500 Scheme for telecom and networking products. (NDTVProfit)
24,500
 MedPlus Health Services: The company arm received one suspension
23,500
order for drug license for a store in Maharashtra. (NDTVProfit)
22,500
21,500
 Imagicaaworld: The company entered into a loan agreement with HDFC
Jun-24 Oct-24 Feb-25 Jun-25
Bank for availing loan facilities of Rs 275 crore. The loan will be used to
fund the acquisition of Wet’n Joy parks in Lonavala and Shirdi from
Source: NSE
Giriraj Enterprises. (NDTVProfit)
 Hawkins Cookers: The company commenced commercial operations at
a factory in Uttar Pradesh. (NDTVProfit)
 Brigade Enterprises: The company’s arm incorporated an LLP named
“Auraterra Developers LLP” with an initial capital contribution of Rs
99,990. The said LLP will take up development of real estate projects.
(NDTVProfit)
Source: ET Economic Times, BS = Business Standard, FE = Financial Express, IE = Indian
Express, BL = Business Line, BQ = BloombergQuint, ToI: Times of India, BSE = Bombay
Stock Exchange, MC = Moneycontrol, MINT = Mint

Kotak Securities Limited has two independent equity research groups: Institutional Equities and Private Client Group. This report has been prepared by the Private Client Group.
JUNE 06, 2025

RATING SCALE (PRIVATE CLIENT GROUP)

Definitions of ratings
BUY – We expect the stock to deliver more than 15% returns over the next 12 months
ADD – We expect the stock to deliver 5% - 15% returns over the next 12 months
REDUCE – We expect the stock to deliver -5% - +5% returns over the next 12 months
SELL – We expect the stock to deliver < -5% returns over the next 12 months
NR – Not Rated. Kotak Securities is not assigning any rating or price target to the stock.
The report has been prepared for information purposes only.
SUBSCRIBE – We advise investor to subscribe to the IPO.
RS – Rating Suspended. Kotak Securities has suspended the investment rating and price target
for this stock, either because there is not a sufficient fundamental basis for determining, or
there are legal, regulatory or policy constraints around publishing, an investment rating or
target. The previous investment rating and price target, if any, are no longer in effect for this
stock and should not be relied upon.
NA – Not Available or Not Applicable. The information is not available for display or is not
applicable
NM – Not Meaningful. The information is not meaningful and is therefore excluded.
NOTE – Our target prices are with a 12-month perspective. Returns stated in the rating scale are our
internal benchmark.
FUNDAMENTAL RESEARCH TEAM (PRIVATE CLIENT GROUP)
Shrikant Chouhan Arun Agarwal Amit Agarwal, CFA
Head of Research Auto & Auto Ancillary, Building Material, Transportation, Paints, FMCG
shrikant.chouhan@kotak.com Cement, Consumer Durable agarwal.amit@kotak.com
+91 22 6218 5408 arun.agarwal@kotak.com +91 22 6218 6439
+91 22 6218 6443

Rini Mehta Sumit Pokharna K. Kathirvelu

Research Analyst Oil and Gas, Information Tech Support Executive
rini.mehta@kotak.com sumit.pokharna@kotak.com k.kathirvelu@kotak.com
+91 22 6218 6433 +91 22 6218 6438 +91 22 6218 6427

Pankaj Kumar Amarjeet Maurya Shasvat Shah Veer Trivedi

Construction, Capital Goods & Midcaps Internet Software & Services Research Associate BFSI
pankajr.kumar@kotak.com amarjeet.maurya@kotak.com shasvat.shah@kotak.com veer.trivedi@kotak.com
+91 22 6218 5498 +91 22 6218 6427 +91 22 6218 6440 +91 22 6218 6432

TECHNICAL RESEARCH TEAM (PRIVATE CLIENT GROUP)

Shrikant Chouhan Amol Athawale Sayed Haider
shrikant.chouhan@kotak.com amol.athawale@kotak.com sayed.haider@kotak.com
+91 22 6218 5408 +91 20 6620 3350 +91 22 62185458

DERIVATIVES RESEARCH TEAM (PRIVATE CLIENT GROUP)

Sahaj Agrawal Prashanth Lalu Prasenjit Biswas, CMT, CFTe Karan Kulkarni
sahaj.agrawal@kotak.com prashanth.lalu@kotak.com prasenjit.biswas@kotak.com karan.kulkarni@kotak.com
+91 79 66041701 +91 80 61563691 +91 33 6638 8331 +91 20 66203350

Kotak Securities – Private Client Group Please see the Disclosure/Disclaimer on the last page For Private Circulation 2
JUNE 06, 2025

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JUNE 06, 2025

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