Unfortunately at this time you cannot change when the subscription emails are sent out. They are sent out at midnight UTC and at this time it is not configurable.
I am ok if it trigger in midnight but can't we change UTC to IST midnight.
At this time no. The ability just does not exist. I would recommend putting in a RFE is this is a feature that is needed.
https://answers.dynatrace.com/content/idea/post.html?space=483
Thanks for your suggestion.