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  • Media sources indicate that the Prime Minister chaired a high level meeting on vehicle scrappage policy yesterday i.e. Jan 14, 2021. Media sources indicate that the final policy is expected to be rolled out in next two weeks or with the Union budget 2021-22. It is positive for the automobile sector especially the commercial vehicle space. Our preferred picks and likely beneficiary of scrappge policy will be Ashok Leyland, MM forging, JK tyre and Phillips Carbon Black 15-JAN-21
  • The promoter entity of Time Technoplast has done partial repayment of debt to release the pledge share. Consequently, the pledge has come down to 11% of total equity (from 12%). 15-JAN-21
  • PVR is expected to report results today. It reopened theatres from October 15 onwards during Q3FY21 post receiving permit from central and state governments. However, 50% limit to occupancy and lack of new releases led to marginal footfalls with single digit occupancy. Subsequently, we estimate overall revenues at Rs 54.5 crore. Ad revenues were also yet to recover. We incorporate higher costs on sequential basis post reopening. EBITDA (ex-Ind-AS) loss is estimated at Rs 120.2 crore 15-JAN-21