SAREGAMA.NSE

Saregama India Ltd.

In this briefing: CMPDIL: Powering Indian Coal Mining by Mapping the Depths - Priced for a Listing Pop Exencial Industry Tidings - 19-03-2026 HDFC Bank Chairman Exit- Trust Deficit Becomes a New Risk in Private Banking Saregama & Tips Music: Why India's Music Labels Are the Market's Cleanest Cashflow Story The CDMO Arms Race: How India Is Quietly Becoming the World's Drug Factory 1. CMPDIL: Powering Indian Coal Mining by Mapping the Depths - Priced for a Listing Pop After a blockbuster listing for Bharat Coking Coal Limited (BCCL) (7535956Z IN) earlier this year, Coal India Ltd (COAL IN) is back with another Offer for sale. CMPDI is the technical consulting arm of the Coal Ministry of India that has been institutionalised to support the Coal industry value chain throughout its project lifecycle The deal has been valued attractively at the midpoint of valuations commanded by similar Indian public-sector enterprises despite its relatively superior profile. Expect a listing pop notwithstanding the market environment. 2.

In this briefing: HDFC Bank Chairman Exit- Trust Deficit Becomes a New Risk in Private Banking Saregama & Tips Music: Why India's Music Labels Are the Market's Cleanest Cashflow Story The CDMO Arms Race: How India Is Quietly Becoming the World's Drug Factory Indian IT Sector: The Bottom Made? Exencial Industry Tidings - 18-03-2026 1. HDFC Bank Chairman Exit- Trust Deficit Becomes a New Risk in Private Banking HDFC Bank (HDFCB IN) part-time chairman Mr. Atanu Chakraborty resigned citing ethical misalignment, signalling deeper governance concerns rather than a routine leadership transition. Persistent whistle-blower complaints and past control issues highlight a recurring pattern of operational and cultural strain within the bank. Alongside past governance failures at ICICI Bank and Yes Bank, this signals a structural erosion of the trust premium in private sector banking, not an isolated incident. 2. Saregama & Tips Music: Why India's Music Labels Are the Market's Cleanest Cashflow Story Tips Music delivered 29% revenue growth and 31% PAT growth in FY25; Saregama posted its highest-ever revenue of Rs. 1,171 crore driven by aggressive content investment and new business verticals.

In this briefing: We Recommend Aggressive Short-Term Traders Trim Length in Refiner Equities and Spring RBOB Cracks BoJ Holds, Tightening Bias Intact Brazil: Cautious Start to Selic Easing Fed Holds: Higher for Longer? Saregama & Tips Music: Why India's Music Labels Are the Market's Cleanest Cashflow Story 1. We Recommend Aggressive Short-Term Traders Trim Length in Refiner Equities and Spring RBOB Cracks We issued reports on February 19 and 23rd recommending that, although refiner equities were anticipated to represent an attractive long-term investment, we anticipated an attractive trading move. We were looking for gains between the time our reports were issued and June. The war has led to attractive gains well before our expected seasonal peak. As such, we believe our stocks and the RBOB cracks have run somewhat ahead of themselves, and we believe some trimming of positions to lock in profits is warranted. 2. BoJ Holds, Tightening Bias Intact The BoJ held the policy rate at 0.75% as expected, reinforcing a conditional tightening bias anchored in its 2% inflation objective.

In this briefing: BoJ Holds, Tightening Bias Intact Brazil: Cautious Start to Selic Easing Fed Holds: Higher for Longer? Saregama & Tips Music: Why India's Music Labels Are the Market's Cleanest Cashflow Story Forgent Power Solutions (FPS US): Post-IPO Inclusion in US & Global Indices 1. BoJ Holds, Tightening Bias Intact The BoJ held the policy rate at 0.75% as expected, reinforcing a conditional tightening bias anchored in its 2% inflation objective. Hawkish dissent and rising wage–price momentum keep the door open for a 25bp hike to 1.0% once underlying 2% inflation is clearly secured. Energy shocks, yen weakness and JGB market strains will shape the timing and pace of any further BoJ rate hikes in 2026. 2. Brazil: Cautious Start to Selic Easing Copom only cut the Selic by 25bp to 14.75% (consensus 14.5%), starting a cautious calibration cycle rather than a pre‑set easing path amid still excessive inflation expectations. Future rate moves hinge on expectations re‑anchoring, services inflation and labour‑market slack, plus the credibility of Brazil’s evolving fiscal stance.