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In this briefing: Vedanta (VEDL IN) Demerger: Index Implications (What Stays, What Goes, When & Size) Bagmane Prime Office REIT IPO: Lower Vacancy, Higher Yield Aequitas: Bagmane Prime Office REIT IPO - Stable Growth, Limited Yield Upside Primer: HG Infra Engineering Ltd (HGINFRA IN) - May 2026 HSIE Results Daily: Kotak Mahindra Bank, Avenue Supermarts, Bajaj FinServ, Jindal Steel 1. Vedanta (VEDL IN) Demerger: Index Implications (What Stays, What Goes, When & Size) Vedanta Ltd (VEDL IN) has demerged into 5 entities to unlock value through separate strategies and the removal of the holding company discount. Vedanta Ltd (VEDL IN) is a member of the global indices, NSE Nifty Next 50 Index (NIFTYJR INDEX) and the demerger has index implications. The timing of the listing of the demerged entities and the passive flows that follow will create trading opportunities. 2. Bagmane Prime Office REIT IPO: Lower Vacancy, Higher Yield Bagmane Prime Office REIT, India’s largest pure-play office REIT plans to raise INR 3,405 crore , backed by a 20.3 million sq. ft. and ~INR 40,264 crore Gross Asset Value.

In this briefing: Bagmane Prime Office REIT IPO: Lower Vacancy, Higher Yield Aequitas: Bagmane Prime Office REIT IPO - Stable Growth, Limited Yield Upside Primer: HG Infra Engineering Ltd (HGINFRA IN) - May 2026 HSIE Results Daily: Kotak Mahindra Bank, Avenue Supermarts, Bajaj FinServ, Jindal Steel PSP Projects Ltd - Strong Execution Momentum to Drive Revenue Growth 1. Bagmane Prime Office REIT IPO: Lower Vacancy, Higher Yield Bagmane Prime Office REIT, India’s largest pure-play office REIT plans to raise INR 3,405 crore , backed by a 20.3 million sq. ft. and ~INR 40,264 crore Gross Asset Value. The portfolio has 98.8% occupancy , 7.4-year lease tenure , 60+ tenants , and strong exposure to MNC and GCC tenants, supporting stable rental income. Backed by Bagmane Group’s strong development track record and 47.1 million sq. ft. ROFO pipeline , the REIT offers growth visibility, but remains Bengaluru-focused. 2. Aequitas: Bagmane Prime Office REIT IPO - Stable Growth, Limited Yield Upside Bagmane Prime Office REIT (BPO IN) plans to raise around US$360m in its India IPO, down from its earlier estimated size of US$440m.

In this briefing: Bagmane Prime Office REIT IPO: Lower Vacancy, Higher Yield Aequitas: Bagmane Prime Office REIT IPO - Stable Growth, Limited Yield Upside Primer: HG Infra Engineering Ltd (HGINFRA IN) - May 2026 HSIE Results Daily: Kotak Mahindra Bank, Avenue Supermarts, Bajaj FinServ, Jindal Steel PSP Projects Ltd - Strong Execution Momentum to Drive Revenue Growth 1. Bagmane Prime Office REIT IPO: Lower Vacancy, Higher Yield Bagmane Prime Office REIT, India’s largest pure-play office REIT plans to raise INR 3,405 crore , backed by a 20.3 million sq. ft. and ~INR 40,264 crore Gross Asset Value. The portfolio has 98.8% occupancy , 7.4-year lease tenure , 60+ tenants , and strong exposure to MNC and GCC tenants, supporting stable rental income. Backed by Bagmane Group’s strong development track record and 47.1 million sq. ft. ROFO pipeline , the REIT offers growth visibility, but remains Bengaluru-focused. 2. Aequitas: Bagmane Prime Office REIT IPO - Stable Growth, Limited Yield Upside Bagmane Prime Office REIT (BPO IN) plans to raise around US$360m in its India IPO, down from its earlier estimated size of US$440m.

Mumbai: Benchmark indices Sensex and Nifty buckled under selling pressure Tuesday as fresh tensions flared in the Strait of Hormuz region and the ceasefire between the US and Iran came under strain. The rupee hitting a record low against the US dollar amid elevated crude prices also made investors cautious. In a volatile session, the 30-share BSE Sensex dropped 251.61 points, or 0.33 per cent, to settle at 77,017.79. During the day, it tanked 754.37 points, or 0.97 per cent, to 76,515.03. The 50-share NSE Nifty edged lower by 86.50 points, or 0.36 per cent, to end at 24,032.80. “Domestic equities witnessed a volatile session, closing lower as post-election optimism faded and sentiment re-aligned with global weakness amid rising geopolitical tensions. “Elevated crude prices continued to pressure the rupee, which slipped to record lows. Despite these headwinds, the ongoing earnings season, with results slightly ahead of expectations, provided some support and triggered selective bottom-fishing,” Vinod Nair, Head of Research, Geojit Investments Limited, said.

Mumbai: Benchmark indices Sensex and Nifty buckled under selling pressure Tuesday as fresh tensions flared in the Strait of Hormuz region and the ceasefire between the US and Iran came under strain. The rupee hitting a record low against the US dollar amid elevated crude prices also made investors cautious. In a volatile session, the 30-share BSE Sensex dropped 251.61 points, or 0.33 per cent, to settle at 77,017.79. During the day, it tanked 754.37 points, or 0.97 per cent, to 76,515.03. The 50-share NSE Nifty edged lower by 86.50 points, or 0.36 per cent, to end at 24,032.80. “Domestic equities witnessed a volatile session, closing lower as post-election optimism faded and sentiment re-aligned with global weakness amid rising geopolitical tensions. “Elevated crude prices continued to pressure the rupee, which slipped to record lows. Despite these headwinds, the ongoing earnings season, with results slightly ahead of expectations, provided some support and triggered selective bottom-fishing,” Vinod Nair, Head of Research, Geojit Investments Limited, said.

In this briefing: Aequitas: Bagmane Prime Office REIT IPO - Stable Growth, Limited Yield Upside Primer: HG Infra Engineering Ltd (HGINFRA IN) - May 2026 HSIE Results Daily: Kotak Mahindra Bank, Avenue Supermarts, Bajaj FinServ, Jindal Steel PSP Projects Ltd - Strong Execution Momentum to Drive Revenue Growth Indiamart Intermesh Ltd - Weak Quarter; Growth Guidance Remains Intact 1. Aequitas: Bagmane Prime Office REIT IPO - Stable Growth, Limited Yield Upside Bagmane Prime Office REIT (BPO IN) plans to raise around US$360m in its India IPO, down from its earlier estimated size of US$440m. The primary portion has been cut to INR23.9bn (US$253m) from INR30bn (US$320m) while the secondary component remains unchanged at INR10bn (US$105m). The primary portion has been cut to INR23.9bn (US$253m) from INR30bn (US$320m) while the secondary component remains unchanged at INR10bn (US$105m). 2. Primer: HG Infra Engineering Ltd (HGINFRA IN) - May 2026 HG Infra Engineering is a well-established road-focused EPC and HAM project developer, poised to benefit from India's continued focus on infrastructure development.

In this briefing: Aequitas: Bagmane Prime Office REIT IPO - Stable Growth, Limited Yield Upside Primer: HG Infra Engineering Ltd (HGINFRA IN) - May 2026 HSIE Results Daily: Kotak Mahindra Bank, Avenue Supermarts, Bajaj FinServ, Jindal Steel PSP Projects Ltd - Strong Execution Momentum to Drive Revenue Growth Indiamart Intermesh Ltd - Weak Quarter; Growth Guidance Remains Intact 1. Aequitas: Bagmane Prime Office REIT IPO - Stable Growth, Limited Yield Upside Bagmane Prime Office REIT (BPO IN) plans to raise around US$360m in its India IPO, down from its earlier estimated size of US$440m. The primary portion has been cut to INR23.9bn (US$253m) from INR30bn (US$320m) while the secondary component remains unchanged at INR10bn (US$105m). The primary portion has been cut to INR23.9bn (US$253m) from INR30bn (US$320m) while the secondary component remains unchanged at INR10bn (US$105m). 2. Primer: HG Infra Engineering Ltd (HGINFRA IN) - May 2026 HG Infra Engineering is a well-established road-focused EPC and HAM project developer, poised to benefit from India's continued focus on infrastructure development.

In this briefing: Primer: HG Infra Engineering Ltd (HGINFRA IN) - May 2026 ICTSI PM: Record Earnings on Inorganic Lift; DGT Margin Drag Near-Term; Pre-IPO Hai Robotics - Challenges Remain Despite Solid Business Model SuperCom - Growing 40% at Potentially ~2x 2026 EBITDA HSIE Results Daily: Kotak Mahindra Bank, Avenue Supermarts, Bajaj FinServ, Jindal Steel 1. Primer: HG Infra Engineering Ltd (HGINFRA IN) - May 2026 HG Infra Engineering is a well-established road-focused EPC and HAM project developer, poised to benefit from India's continued focus on infrastructure development. The company has a strong track record of revenue and net income growth. The company is strategically diversifying its order book beyond its core roads and highways segment into railways, solar, and water infrastructure projects to mitigate concentration risk and capture new growth opportunities. Despite robust top-line growth, the company has consistently generated negative operating and free cash flows over the last three years, a key concern for investors.

In this briefing: Primer: HG Infra Engineering Ltd (HGINFRA IN) - May 2026 ICTSI PM: Record Earnings on Inorganic Lift; DGT Margin Drag Near-Term; Pre-IPO Hai Robotics - Challenges Remain Despite Solid Business Model SuperCom - Growing 40% at Potentially ~2x 2026 EBITDA HSIE Results Daily: Kotak Mahindra Bank, Avenue Supermarts, Bajaj FinServ, Jindal Steel 1. Primer: HG Infra Engineering Ltd (HGINFRA IN) - May 2026 HG Infra Engineering is a well-established road-focused EPC and HAM project developer, poised to benefit from India's continued focus on infrastructure development. The company has a strong track record of revenue and net income growth. The company is strategically diversifying its order book beyond its core roads and highways segment into railways, solar, and water infrastructure projects to mitigate concentration risk and capture new growth opportunities. Despite robust top-line growth, the company has consistently generated negative operating and free cash flows over the last three years, a key concern for investors.