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T I M E S
A TIME COMMUNICATIONS PUBLICATION
VOL XXVI No.25 Monday, 24 – 30 April 2017 Pgs.22 Rs.18

Markets consolidate Now follow us on Instagram, Facebook &
By Sanjay R. Bhatia Twitter at moneytimes_1991 on a daily basis
to get a view of the stock market and the
The markets consolidated amidst a rangebound trend. Frontline
happenings which many may not be aware of.
stocks corrected while mid-caps continued to move higher. The
breadth of the market remained positive amidst high volumes indicating buying support in mid-cap and small-cap
stocks. However, 9200 continued to remain a sore point as the markets clearly struggled.
The FIIs turned net sellers in the cash segment but were seen hedging their positions by remaining net buyers in the
derivatives segment. Moreover, the DIIs remained net buyers during the week and were seen supporting the markets.
Crude prices corrected on the back of inventory concerns trading between $50-53. The earnings season continued to
remain lacklustre.
Technically, the prevailing negative technical Believe it or not!
conditions weighed on the market sentiment leading
 Texmo Pipes and Products recommended at
to selling pressure. The MACD, RSI and KST are all
placed below their respective averages on the daily Rs.20.75 as SS last week, zoomed to Rs.28.70
chart. The Stochastic and RSI are both placed below fetching 38% returns in just one week!
their respective averages on the weekly chart. These  Marathon NextGen Realty recommended at
negative technical conditions could lead to Rs.265.5 as SP on 10 April 2017, recorded a new
intermediate bouts of profit-booking and selling 52-week high at Rs.345 last week fetching 30%
pressure especially at higher levels. returns in just two weeks!
The prevailing positive technical conditions,  B.L. Kashyap & Sons recommended at Rs.24.05
however, still hold good. The MACD and KST are both in TT on 10 April 2017, recorded a new 52-week
placed above their respective averages on the weekly
high at Rs.31.25 last week fetching 30% returns
chart. Further, the Stochastic is placed above its
average on the daily chart. The Nifty is placed above in just two weeks!
its 50-day SMA, 100-day SMA and 200-day SMA. The  Lancor Holdings recommended at Rs.25.25 in
Nifty’s 50-day SMA is placed above its 100-day and TT on 27 March 2017, zoomed to Rs.37.90 last
200-day SMA, its 100-day SMA is placed above its week fetching 50% returns in four weeks!
200-day SMA indicating a ‘golden cross’ breakout.  GIC Housing Finance recommended at Rs.302.40
These positive technical conditions could lead to as BB on 13 March 2017, recorded a new 52-
regular buying support.
week high at Rs.523 last week fetching 73%
The ADX line is placed above the +DI line and the -DI returns in six weeks!
line and is also placed above the 32 level on the daily
(BB – Best Bet; SP – Stock Pick; SS – Stock Scan; TT –
chart. The +DI line is placed above the -DI line and
Tower Talk)
above 30, which indicates that buyers are gaining
strength. But it has also come off its recent highs, This happens only in Money Times!
which indicates that buyers are booking profits Now in its 26th Year

A Time Communications Publication 1

regularly. The market sentiment remains tentative due to the earnings season.
The Nifty is clearly struggling around the 9200
mark. It is important for it to witness regular
buying support to move and sustain above 9220.
Follow-up buying support is crucial at the higher
levels. Intermediate bouts of profit-booking and
selling pressure are likely to continue if the Nifty
fails to move above the 9220 resistance level.
Stock-specific action is likely to be witnessed due
to the earnings season. 9060 and 8975 are crucial
support levels.
In the meanwhile, the markets will take cues from
the earnings season, Dollar-Rupee exchange rate,
global markets and crude prices.
Technically on the upside, the Sensex faces
resistance at the 29650, 29825 and 30025 levels and seeks support at the 29350, 29075, 28700, 28350 and 28100
levels. The resistance levels for the Nifty are placed at 9220, 9275 and 9350 while its support levels are placed at 9060,
8975, 8890, 8860 and 8712.

BAZAR.COM
MET forecast to sustain bull run
The last six months have reshaped the county’s politics and economics. Demonetisation was a major political gamble but
its economic outcome was certain. Not only did this move unite the sixteen non-NDA parties when launched but their
crocodile tears clearly wasted a fortnight of the Parliament.
sThe economic impact of demonetisation created two groups - the haves and the have nots. The population at large
believed in PM Modi’s war against corruption and black money. It gave a new hope to the masses and this translated into
NDA’s landslide victory in U.P. and Uttarakhand. Such a massive mandate gave birth to Operation 2019 on the political
front. For the first time, the BJP dreams of ruling from Manipur to Gujarat and from Kashmir to Kerala! The market was
discounting this factor and consolidating at every step of reforms. Monsoon was the only unknown factor for the market
and that fear, too, is put to rest by the Met i.e. Indian Meteorological Department’s (IMD) forecast of a near normal
monsoon this season, which sends positive signals to the farm sector and the overall economy. Rainfall is likely to be
96% of the long period average (LPA). “The distribution of rains is expected to be good,” IMD chief K J Ramesh said
sounding optimistic about the prospects of agriculture. This will add to the growth momentum, revive rural demand and
help tame inflationary pressures.
The Indian economy (Asia’s third largest economy) is
coming out of the impact of its daring move to scrap high
value currency notes (up to 86%) on 8th November 2016. For the busy investor
Growth is expected to pick up and most economists Fresh One Up Trend Daily
reckon it would be above 7%. Multilateral agencies have Fresh One Up Trend Daily is for investors/traders who are
forecast above 7% growth. The robust monsoon is
keen to focus and gain from a single stock every
expected to boost rural demand, which in turn will help
trading day.
in overall expansion. Improvement in farm supplies as a
result of the normal monsoon will keep inflationary With just one daily recommendation selected from
pressures, particularly food inflation, under check. stocks in an uptrend, you can now book profit the same
The impact of monsoon dynamics as well as other day or carry over the trade if the target is not met. Our
inflation risks such as the GST won’t be clear for a few review over the next 4 days will provide new exit levels
more months, which suggest a high likelihood of a while the stock is still in an uptrend.
prolonged pause of the policy rate. The RBI will be This low risk, high return product is available for online
compelled to focus on liquidity management measures in subscription at Rs.2500 per month.
the next few policies.
Contact us on 022-22616970 or email us at
Now that the monsoon forecasts are clear, it’s time to
moneytimes.suppport@gmail.com for a free trial.
look deeper into the Q4 earnings season. Although both

A Time Communications Publication 2

The Upside has a lot of resistance and sustainability issue remains till 30024 is not crossed on a weekly closing with a bullish candle. India Inc’s capacity utilisation has declined to 69% from 92% in 2007 and credit growth down to 5% from 21% in 2007. Daily The effect of the ‘Evening Star’ was seen as the Sensex had to shell out the intra-week gains at one point of time. a ‘Head and Shoulder’ pattern appears to be developing. Oil India.30 and thereby showed a net fall of 96 points on a week-to-week basis. The grand NDA win at U. Till then. an average and well-distributed monsoon may mean that the markets are slowly inching upwards and shall scale new peaks.8x and 2. There could also be upward revisions in earnings estimates. the unfolding of the GST and provisions of cashless transactions may re-write the growth story of India. an upside appears to be locked and sustained profit-booking pressure will be witnessed. attained a high at 29701. Most macro indicators have improved and are improving further gradually. For instance. A Time Communications Publication 3 . Further.18 and moved to a low at 29241. but the changing fundamentals. TRADING ON TECHNICALS Upside locked for index By Hitendra Vasudeo Sensex Daily Trend DRV Weekly Trend WRV Monthly Trend MRV Last Close 29365 Up 29349 Up 28827 Up 26813 Last week. While macro indicators are at the bottom. Last week on 18/04/2017.Infosys and TCS had nothing to blow the trumpet about. As a result. Analysts expect the momentum to last and the markets to sail to new highs by end 2017. It is observed that an incremental rise in output can come from high capacity utilization without any capex and this operating utilization will help earnings over the next two years. the country’s economy in the last 30 months has gone through a grind and strengthened. FIIs’ interest in India. On the daily chart. Weekly Support gap is at 29356-29098. the scope for a turnaround is huge.27. any lower top against the top of 30007 will create a Right Shoulder. Let the grey clouds gather for a change for it means smile on the face of earth. Cairn India. Not only politics. The low registered in the last 1 month was 29137 covering the gap partially. many experts feel that returns on equity may rise even before an earnings growth is reported. the upside for the index and index-related stocks appear to be locked unless a decisive breakout and close above 30024 is witnessed. influence the market. Currently. too. the Sensex looked like it could terminate the correction but its closing was bad and ended the day with a bearish candle. P/E ratios may be rising despite a nearly flat EPS.7x in December 2007. triggered the bull run. On index and index-related stocks. it is the re-rating of P/E ratios. right now.48 before it closed the week at 29365.6x and 5. the market remained in the bull grip.P. The market cap:GDP ratio is 80x against 100 in 2007. The gap is once again being tested. keep your fingers crossed. The rationale is that since all the economic factors are at the bottom of the cycle. Since the Sensex has not been able to cross and close above 30024 for the last few weeks. The Left Shoulder and Head is visible while the Right Shoulder could develop in days to come. Structurally. The intra-day sentiment booster up- move on 18/04/2017 later proved to be a bull trap. Petronet LNG and Gujarat State Petronet. It has changed the estimates by -4% to +4% for FY17 and by -2% to +2% for FY18-19 for the following stocks under its radar – ONGC.8x respectively against 27. the Sensex opened at 29470. which led to the creation of a lower top on the hourly chart. The Nifty P/E and P/BV now stands at 21. Goldman Sachs for instance has revised its FY17-19 estimates for a few sectors based on Q3FY17 results.

large-caps as well as mid-caps.Up WINNERS 2017 8-Day trend . A Time Communications Publication 4 .Down The Yearly Levels and Quarterly Levels provide for Profit 3-Month trend .Up Expect outperformance in stocks from the BSE Mid-Cap index over large-caps and index-based stocks.Up Stocks where Profit booking is witnessed and are correcting offer an opportunity for accumulation.6000 per annum 1-Week trend . 1-Month trend . 22 are gainers already. The high till now is 14567.Up have corrected and thus provide an opportunity for Yearly chart: accumulation. 8-Month trend . A correction is visible from the RoC Trend data Stocks that move up will offer a new range to capitalize on. The Sensex will continue to witness stalled movements with rangebound volatility and oscillation. So till a decisive live market breakout and close is not witnessed above 30024. which suggests that small-cap outperformance is likely to continue over index.Down 3-Quarter trend . For more details. all 31 stocks were selected as 1-Week trend . BSE Small-Cap Index 1-Week trend . 1-Quarter trend .Up New Quarterly Levels will be issued at March 2017 end. 9 stocks 8-Quarter trend . On monthly and Levels.Such resistances tend to get crossed with an abnormal gap up. Expect the BSE Small-Cap index to eventually move towards 17000 with volatility from the current level of 15100. Currently. Weekly chart: Subscribe today: Rs. index-related stocks.Down Winners but they must go up and down their journey 3-Week trend . 1-Year trend .Up during the year. Trend based on Rate of Change (RoC) Daily chart: Evergreen 1-Day trend . The breakout witnessed in the last few weeks over 13713 has a target implication of 15100.Up 8-Week trend .Down Features 31 stocks identified as performers Weekly chart: At launch on 1st January 2017. The close is at 15166 with a bullish candle at the end of the week. as the daily trends are mixed plus the weekly Stocks that correct provide an opportunity at New Quarterly trend for 1-3 weeks is down. Expect a rally to continue towards 15100 from the current level of 14487.com.support@gmail.Up Quarterly chart: On Correction. we find current closing below last month and also last quarter closing. quarterly charts also.Up 3-Week trend .Down providing you an opportunity to buy / sell or accumulate 8-Week trend .Up 3-Week trend .Up 3-Year trend . a further rally cannot continue. It closed at 14487. Monthly chart: Of the 31 stocks identified.Up Booking.Up Most Important Reason to Subscribe Now 8-Year trend .Up The BSE Small-Cap index continued its momentum in spite of attaining its first target level of 15000.Up 8-Week trend . contact Money Times on BSE Mid-Cap Index 022-22616970/4805 or moneytimes. the Lower Levels are for Accumulation at Yearly and Quarterly Levels.Down 3-Day trend .

Check on Friday after 3.0 675.16 671.0 377.3 71.6 394. CREDIT BANK 183.6 479.0 281.6 386. SA.2 75.22 10-03-17 AUROBINDO PHARMA 633.9 10-03-17 AVANTI FEEDS 889.7 654.3 567.22 656.59 BUY LIST Note: SA-Strong Above.04 53.2 459.3 1876.00 73.00 573. Only an upside breakout and close above 30024 can restore the strength for index and index-related stocks. Relative Strength (RS) is statistical indicator.Supply Point. Therefore.8 440.Strong Above Scrip Last Close Supply Point Supply Point SupplyPoint Strong Above Demand Point Monthly RS WIM PLAST 1374.30 535.5 512.58 39.7 36. Traders can accumulate index- based stocks at 29137-29946 with a stop loss of 28700.3 671.9 827.0 426. DP-Demand Point.0 37.26 77. Note: SA-Strong Above.3 551.09 66. DP-Demand Point.50 398.35 60. Check on Friday after 3.0 73.35 NATIONAL ALUMINIUM C 66.00 1417. DP-Demand Point.00 2453. EXIT LIST Note: SA-Strong Above. If the close is below Weekly Reversal Value then the trend will change from Up Trend to Down Trend. SA. Note: SA-Strong Above.0 886.00 572.50 31-03-17 *Note: Up and Down Trend are based of set of moving averages as reference point to define a trend. Close below averages is defined as down trend.Strong Above Weekly Down Scrip Last Level Level Center Level Level Relative Reversal Trend Close 1 2 Point 3 4 Strength Value Date Demand Demand Supply Supply Strong point point point point above DR.38 A Time Communications Publication 5 .9 13-01-17 DEVELOP. SP.4 189.00 1765.5 402.30 2635.7 2685.6 390. SP.35 433.0 353.3 286.5 377. If the close is above Weekly Reversal Value then the trend will change from Down Trend to Up Trend.58 1440. SP.Strong Above Weekly Up Scrip Last Level Level Center Level Level Relative Reversal Trend Close 1 2 Point 3 4 Strength Value Date Weak Demand Demand Supply Supply below point point point point ESCORTS 555. higher range or intra-week rally to 29630-30024 can be used to book profits. SA.16 1946.05 439.74 72.8 446.3 595. Volatility (Up/Down) within Down Trend can happen/ Volatility (Up/Down) within Up Trend can happen.0 540. Close above averages is defined as up trend.3 75. SA.90 70.0 964.00 1462. WEEKLY UP TREND STOCKS Let the price move below Center Point or Level 2 and when it move back above Center Point or Level 2 then buy with whatever low registered below Center Point or Level 2 as the stop loss.0 662.3 539.0 39.7 622.3 30-12-16 WEEKLY DOWN TREND STOCKS Let the price move above Center Point or Level 3 and when it move back below Center Point or Level 3 then sell with whatever high registered above Center Point or Level 3 as the stop loss. After buying if the price moves to Level 3 or above then look to book profits as the opportunity arises.0 646.3 1948.5 175. SP.Supply Point.25 07-04-17 CRISIL (CREDIT RATIN 1915.Strategy for the week Traders already long can revise upwards their stop loss to 28700.2 13-04-17 SUPREME PETROCHEM 393.Supply Point.42 1535. DP-Demand Point.0 862.00 167.7 1987.0 913. After selling if the prices moves to Level 2 or below then look to cover short positions as the opportunity arises.3 2722.2 178.7 686.15 371.16 286.25 21-04-17 COAL INDIA 277.6 290.00 1227. Weekly Reversal is the value of the average.0 617.0 35.00 859. Expect profit-booking pressure on Sensex and Sensex- related stocks.Supply Point.pm to confirm weekly reversal of the Down Trend.3 2645.4 272.Strong Above Scrip Last Close Demand point Demand point Demand Point Weak below Supply Point Monthly RS GAIL (GAS AUTHORTY O 400.2 206.6 172.3 17-02-17 IIFL HOLDINGS 466. Outperformance in mid-caps and small-caps will continue with volatility.7 71.0 39.20 257.pm to confirm weekly reversal of the Up Trend. REDDY'S LABORATO 2609.3 2569.50 21-04-17 SUN PHARMACEUTICAL I 640.3 2021.

05 40.9 87.5 1957.1 MAHARASHTRA SCOOTERS 2077.77 54.9 829.05 60.Supply Point.2 50.63 BHARAT ELECTRONICS 180.3 32.  Bharat Electronics expects to add over Rs.8 146.0 595.  Malaria drug major. Long-term investors will continue to make money.4 77.39 58. Power Finance Corporation.75 47. RS.42 WENDT (INDIA) 505412 2256.00 2284.Strength Last Weak Supply RS- Scrip BSE Code Demand Point Trigger Supply point Strength Close below point VIKAS WSP 519307 12.6 158.  Tata Steel is contemplating raising funds for expansion.9 1045.2 1856. In fact.85 111.0 504. With the rising demand and dwindling supplies.2 58.85 33.8 387. Rural Electrification Corporation.70 160.2 88.00 184. The stock could double within a year.0 686. the Company’s future looks bright.9 154.5 31. Buy for the long-term.  Kakatia Cement Sugar & Industries is expected to benefit from the ongoing boom in both its sectors.20 412.1 420.50 447.00 2045.3 629.00 1302.  The government’s decision to sell minority stake in Indian Oil Corporation. the possibility of heavy dividend payout or share buyback has been ignored. It has huge orders from the Bill Clinton Foundation. these companies may surprise the market with hefty dividends.08 ROYAL ORCHID HOTELS 532699 115.00 2445.00 469.00 183.3 431.79 BALRAMPUR CHINI MILL 165.30 227.92 56.2 157.63 DHANUKA AGRITECH 863.00 119. The current bull market won’t be derailed by small hiccups.5 154.8 1032.21 65.6 170. Its CASA ratios are also positive.2 65. Steel Authority of India.1 770.8 1988.25 441.80 52.05 60.2 1115.50 173. is on the prowl again.50 59. it was stated that ICICI Bank had bought a strategic stake in Karnataka Bank.00 842.42 64. SA.e.00 1135.00 49.20 625.29 10.19 TOWER TALK Errata: In last week’s ‘Tower Talk’.5 1085.80 98.  It seems that the results of Infosys have not been interpreted properly by investors.74 PIONEER EMBROIDERIES 514300 51.30 101.6800 crore of debts.0 815.0 61. MERCK 1138. The best times are yet to come.5 1095. A delivery based trade for a possible time frame of 1-7 trading days.7 704.65 528.06 62.  Muthoot Capital Services posted a 32% jump in FY17 and expects such profitability in the current year as well.6 83.63 GODREJ PROPERTY 469.1 53. The stock has the potential to rise further.1 1098.7 167. Mangalam Drugs & Organics.8 619.70 90.7 174. SP.9 614.00 2100. Buy for two years.13000 crore to its order book with major assignments from the lucrative defence sector (tactical missile program).00 721. which indicates that the Company is financially very strong.7 179.52 PUNTER PICKS Note: Positional trade and exit at stop loss or target whichever is earlier. The silver lining i.00 960. Invest for a year for good returns.13 60.01 11.00 1111.65 12.97 13.72 VAIBHAV GLOBAL 532156 445.71 GRASIM INDUSTRIES 1129.Strong Above.00 426. Not an intra-day trade.8 158. ICICI Bank has clarified that almost all these shares were held by the bank on behalf of equity broker clients for exchange clearing and settlement business.2 3092. NHPC and NTPC can’t dent the market.60 132. However.32 RAYMOND 755.17 62.7 29.00 871.50 198.50 56.  Indusind Bank posted a 21% jump in Q4 profits.00 1218.  Aluminium giant Hindalco Industries plans to repay Rs.65 TATA CHEMICALS 638.00 2019.59 FUTURE CONSUMER LTD 33. Hold. DP-Demand Point.94 GUJARAT STATE PETRON 194. A good time to accumulate the stock for decent gains.1 14.00 675. which does not comprise a strategic stake. Note: SA-Strong Above.85 CHAMBAL FERTILISERS 92.70 61. Exit at first target or above.00 2692. A Time Communications Publication 6 .

Watch the stock get re-rated and double up soon. investors with a 42% jump in Q4 profits. This may be an opportunity to make some money off the table.500.  Yes Bank has once again posted fantastic results with 120% dividend. The Company has launched several new and innovative products and ads as well.  Jain Irrigation Systems has strategically acquired 80% stake in two US-based micro irrigation entities for about $44. which could affect its profitability for the next few quarters. A safe bet for decent returns. the For more details. January 2016 and 2 January 2017 (52 weeks). the stock may cross Rs.  Tata Consultancy Services has obtained shareholders’ nod for its Rs.8/share is reportedly faring well.  Jalal Ashwin Dani left Asian Paints after a successful stint of 18 years and taking it to great heights. He is likely to join Hitech Plast which is from the same promoter group. Investors with a risk appetite may buy. company.11000. A Time Communications Publication 7 .18000. 3 months: Rs. 1 year: Rs. Therefore.  Dolphin Offshore Enterprises is expected to post a consolidated EPS of Rs. we booked  Orchid Pharma obtained USFDA profit in 124 stocks. The entire metal market is in the boom Most of our recommendations have fetched excellent returns to and therefore.com. a Tata group 6 months: Rs.24 in FY17 and Rs. It is the cheapest stock available in the realty and cement space and it can easily double from the current level. Another multibagger opportunity. sound and technically strong stocks that can yield handsome  Hindustan Zinc pleasantly surprised returns against their peers in the short-to-medium-term.  MPL Plastics’ Milton brand is one of the oldest players in the organized plastics industry. 27 triggered the stop loss while 5 are still approval for its manufacturing plant in open and are in nominal red.16000 crore share buyback.6x). Buy for the long-term. Techno Funda Plus identifies three fundamentally profitability significantly. which is a big positive. The stock trades cheap at Rs. UPL and Gujarat State Fertilizers & Chemicals are good bets. contact Money Times on company is undergoing massive restructuring and the stock may rise to 022-22616970/4805 or moneytimes. Tamil Nadu.800.  VRL Logistics is reportedly facing fuel and employee cost issues. Indiabulls Real Estate flared up on the news of restructuring. Exit now and wait for better times. According to sources. its all-time high level of Rs. The stock has the potential to touch Rs.200.5 mn. deliver multibagger returns in the long- term. subscribe to TECHNO FUNDA regain its lost glory. Of the 156 stocks recommended between 11 may be better. Being an ideal bonus candidate and the cheapest (forward P/E of 4. Realty and Textile divisions into three listed entities.40 in FY17.2500. The Company is likely to If you want to earn like this.32 in FY18. The stock still looks underpriced. This launch can boost its Every week. Buy.  UFO Moviez India is expected to post a consolidated EPS of Rs.  Gruh Finance which posted excellent results with net profit rising by 26% and a dividend of Rs.support@gmail.23 and is a potential multibagger in the long-term. the demand for fertilisers and pesticides should rise. “Think Investment… Think TECHNO FUNDA PLUS”  Pharma major Alembic has obtained USFDA approval for its vilazodone Techno Funda Plus is a superior version of the Techno Funda hydrochloride tablets used for treating column that has recorded near 90% success since launch. the stock is bound to What TF+ subscribers say: touch new heights. Subscription Rate: 1 month: Rs.80 in FY17.  The MET department has predicted a normal monsoon this year.  Keep an eye on TRF. The stock is poised to touch Rs. Buy and hold.2. depression. current year’s working our subscribers. With improving ratios. The stock could PLUS today.  Century Textiles Industries is likely to demerge its Cement.6000.  Chennai Petroleum Corporation is likely to post an EPS of Rs.1100. Buy.

His Filatex India recommended at Rs.18 on 9 January 2017.25 last week.923. In terms of dollar.7 QoQ and 2.2% QoQ for IT services.): (Rs.8 64.3 70.1% QoQ while MFG EBITDA 183.6% QoQ / 6. It has also approved an amount of Rs. North America grew 1.1% QoQ.3% QoQ respectively.7 $806 mn v/s $664 mn in Q3FY17. TCV (total contract value) of large deals stood at P/BV (x) 3 2.25-26 and cost of its minimum application form is Rs. in bn) terms while Europe.2) in FY17.8 724. and offerings in the areas of Analytics. In constant currency terms.3 13 13. The stock may cross Rs.70) (FV: Rs.9% QoQ. Volume growth was partly offset by decline in realizations of 1. The Company’s focus on operational performance such as ‘zero bench’. technology.7. Offshore: +0.475-500.7 and Hi-Tech was flat QoQ.9% Particulars FY17 FY18E FY19E QoQ / 1.2% QoQ in constant currency Valuation Summary (Consensus Est.975-1000.6% on account of rupee appreciation (35 bps). infrastructure management. During the quarter.50+ in FY17 and Rs. Vivimed Labs is the cheapest stock in the pharma space and is likely to post an EPS of Rs.) 62. RCL declined 3.170-175 and cost of its minimum application form is Rs. outsourcing and next-generation services.18 (FV: Rs. The management has given revenue guidance range of 6.  Heavy investment buying is noticed in Nandan Denim (the second largest denim maker).171. revenues were flat QoQ at $2552 mn.5% in constant currency and operating margin range at 23-25% for FY18E.150.7 14. and Life Sciences and Healthcare (LSH).8% QoQ to Rs.30 last week. Attrition continued to decline to P/E (x) 14. revenue was $2569 mn (+0. Blended volume grew 1. Energy & Utilities.5) By Amit Kumar Gupta Infosys Ltd is engaged in consulting.7 193 212.60+ in FY18 going by its expansion initiatives.14 in FY17 and Rs. consolidated revenue stood at Rs. Sanwaria Agro Oils recommended at Rs. respectively.180 in the medium-term.18 in FY18.0% YoY).4% YoY). A conservative P/E of 10x will take its share price to Rs. consulting and systems integration services comprising consulting.7% QoQ and +5.149.130 bn to be paid out during FY18 through dividends or share buyback. largely driven by onsite volumes (onsite volume: +1. Retail. Its segments are Financial Services and Insurance (FSI). Along with its subsidiaries.5 bn deal in FY17) and automation led cost optimization bodes well to drive both growth and profitability for FY18.5% Revenue 684. zoomed to Rs. Manufacturing and Hi-tech (MFG & Hi-TECH). The board has revised the Company’s capital allocation policy from payout of 50% free cash flow to 70% free cash flow.  Grey market premium for the IPO of S Chand & Company is Rs.5 146 159. FSI and ECS grew 0. systems integration and advanced technologies.2 bn (-0. The stock is poised to touch Rs. Royal Orchid Hotels.9% QoQ and +3.1200. it provides business information technology services comprising application development and maintenance.8% QoQ. large deal wins ($3. Communication and Services (ECS). EBIT margin declined 50 bps QoQ to 24. It expects Q1FY18 offshore wage hike to be mid to high-single digit.10 on 16 January 2017. enterprise solutions.5-8.  HNIs have invested heavily in Steel Strips Wheels as the Company is expected to post an EPS of Rs. products.  An Ahmedabad-based analyst recommends Compucom Software. Segment-wise.6 Utilisation including trainees rose 40 bps QoQ to 78. Tera Software and Veer Energy Infrastructure.16. decline in realization (65 bps) offset by cross currency tailwind and operational efficiency. India and RoW declined by 1.5 (the highest in the past 9 quarters). Karma Energy.5% in Q4FY17. independent validation. BEST BET Infosys Ltd (BSE Code: 500209) (CMP: Rs. Consumer packaged goods and Logistics (RCL).36 bn. PAT was down by 2. Geographically. Cloud and Digital Transformation. Adjusted PAT 143.02% in Q4FY17 Adjusted EPS (Rs. engineering services comprising product engineering and life cycle solutions and business process management.9 2. business platforms and solutions to accelerate intellectual property-led innovation including Finacle (its banking solution). Its Q4FY17 results missed Street expectations on the revenue front while profit beat estimates. A Time Communications Publication 8 .9% QoQ).72.  Grey market premium for the IPO of Hudco is Rs.5 794. Goa Carbon. zoomed to Rs. The Company is expected to post an EPS of Rs.

14 points lower than the previous week’s closing of By G. the Sensex opened at 29470 and made a high at 29494. it is more interesting to realize that the Sensex had opened distinctly strong at 29488 and hit an intra-day high at 29701. stock-specific actions were quite interesting and pleasing as several stocks hit new highs. there is no dearth of people who follow their daily calls because the market has turned so big with the F&O volumes jumping by leaps & bounds involving hordes of traders on a daily basis. On Tuesday.80. A Time Communications Publication 9 . Unitech all have moved up between 8-10% while the BSE Realty index has climbed around 10%. Although the technical experts are proving utterly wrong in their short-term calls.232. 13 April 2017. The stock trades above all important weekly levels like the 200 DMA level.45. However.56 points while closing at 29319.70 and on dips to Rs.08 and low at 29363. Godrej Properties. Roongta 9150. let us hope that the market hits its all-time high beyond Sensex 30024 and Nifty 9280 sooner than later.137 and has gained 70% to hit a high of Rs. Ever since RBI’s monetary policy. it cannot meet the analysts’ forecasts accurately as each trader has diverse commitments on both sides as each trader hopes to gain but the outcome favours either the buyer or the seller and the other party loses. There are hardly 5 stocks out of 100 that are at their 52-week lows.40 i. It has an important support level of Rs. In a bullish market.28 while closing at 29413. 20 April 2017. Start accumulating at this level of Rs. According to the technical experts. Several stocks again hit new 52-week highs or all-time highs. The Nifty ended at 9105 closing above the sensitive level of 9000.1050+ in the next 12 months. which should not be construed to read that there is any danger of the ongoing bullish market or that it is likely to reverse substantially. Index movements in such a bullish scenario is nothing but to misguide investors that the stock market is undergoing a correction phase to keep them away from making fresh investment in stocks.66 thus losing 47. The Sensex seemed to have bottomed out at the 29400 level and the Nifty at the 9130 level on Thursday. a running correction by way of profit-booking or balancing the overbought position is a part of the market trend. In view of this.880 for medium-to-long-term investment and a possible price target of Rs. Technical experts were expecting the Nifty to break the 9000 level each passing day stating ‘Nifty forms an inverted hammer pattern’ indicating more correction as featured in the Tech View in ET on 19 April 2017.923. As such. From here onwards. The list is quite wide spread.79 points. So everybody rushed to sell large scale. impacting the indices negatively at the net level compared to the previous week ended Thursday. the Sensex closed lower by 40 points on Thursday. at 29461. Indices wise. Ajmera Realty Infra India was recommended in ‘Mid-Cap Twins’ about six months back at Rs. GURU SPEAK Stock-specific action to continue Last week. For another technical analyst. the Nifty on the daily chart has formed a pattern similar to the ‘Inverted hammer’. Real estate stocks have been blazing on hopes of a sharp revival in the real estate business after granting them corporate entity status.Technical Outlook: The Infosys Ltd stock looks very good on the daily chart for medium-term investment.e. Amongst realty stocks.39 followed by the Nifty at 9136. although the market was rangebound. the Sensex further lost 94. Housing Development & Infrastructure. at 29422. the stock market exhibited two-way fluctuation with alternate bouts of buying and selling because of which the indices remained sluggish with few points plus or minus in four days of trading till Thursday. On Monday.10. the Sensex closed slightly higher than the day’s low at 29319 thus losing 95 points compared to the previous day. S. 20 April 2017. the Sensex has corrected roughly by 700 points and the Nifty by nearly 200 points which seems enough. Heavy selling at higher levels forced the Sensex to slide nearly 420 points in intra-day trades from the high of 29701 to a low of 29286.890 on the weekly chart. 17 April 2017. After zigzag trading last week.19 but the higher level attracted large-scale selling pressure because everybody was in the mood or ill-informed by technical experts that the Nifty might hit or break the sensitive support level of 9000. which clearly indicates that the market is extremely bullish and there is no reason of it facing any severe correction going forward. 20 April 2017. 18 April 2017. the index is likely to see some more correction before it bottoms out. However. DLF. the market session was nothing short of a nightmare for traders. Nearly hundred stocks hit new highs with several of them touching the roof.

Please book your subscription According to me. Further. which is comparatively weak as of now. Bank of Baroda at Rs. Sugar. It is reported that cement prices in the South have risen by Rs. true investors need not worry but those who trade in the F&O segment have to figure out whether the market is bullish or bearish. 20 April 2017. ACC. There are no fundamental reasons to justify these stocks lying so low except for speculative interest as stated by me in the previous edition narrating the SAIL stock investment under the F&O segment leading to a loss of Rs.6800 crore mega loan pre-payment.’ According to two mid-cap recommendations every month me. the Company stands to gain Latest edition of ‘Mid-Cap Twins’ was released on handsomely in FY17. turned star performers led by India Cements. The demand for Metal world over is rising. 19 April gaining 17. likely to outperform the large-caps or index A similar story is there about Hindalco Industries.202 to Rs. Prism Cement. FIIs have been net sellers since the last 10 days or so as they do not wish to pump in funds at higher levels.80.450 last week.508 corrected below Rs.205-210 shortly. so also its Mid-caps or Mad-caps? prices. India Cements recommended in ‘Mid-Cap Twins’ hit an all-time high of Rs.T. it has added capacity in FY17 which ‘Roongta’s Mid-cap Twins’ will be available both will boost its volume sales. suddenly turned bearish because of lack of follow-up buying support from big players.500-600 crore interest cost yearly. stating ‘Hindalco kicks off launched ‘Roongta’s Mid-cap Twins’ comprising Rs. A Time Communications Publication 10 . Ultratech Cement. this is good news for the market to push the stock beginning 1st August 2016.6800 crore. Another forecast made by Mr. dancing within a range of 200 points on the Sensex and by 50-70 points on the Nifty. Same is the story for India. Tata Steel which had hit a high of Rs. Cement stocks. Money Times has E. The stocks. Indices are. which have been sluggish since the last couple of weeks.S. positions.20. India. Thus. Also. so also SAIL and Sarda Energy & Minerals. are at a 2-year high. So. Speculative price for any stock has nothing to do with the reailty of the sector. Maruti Suzuki India at Rs.1148.82 points on Thursday. basis. any price fluctuation 1st April 2017 in this stock is no cause of worry for investors. The market after opening high and trading in the green till 2 pm on Friday. Punters have now bitten into Steel stocks over the past two weeks.40. to a new high of over Rs. aluminum prices as print edition or online delivery. Bajaj Auto at Rs. 21 April 2017. JK Lakshmi Cement. So.25-30 per bag and are expected to rise further before the monsoon indicating the good demand and off take in the South. which is the reason why the steel sector is achieving fast growth.196 and is rumoured to cross Rs.42 points at 29336. they must continue to hold to take advantage in Leading the charge will be the Mid-caps that are the long-term. The Hindalco Industries news appeared in To encash this opportunity. Engineering and Capital Goods stocks are all buzzing and investors are being rewarded by the market consistently. higher on a YoY basis.2832 and Bosch at Rs.57 and again 85.6274. Bull operators have also turned traders as they prefer booking profits at higher levels and buying at low levels.180. As per a report titled ‘Steel Drive Strongest Growth in China since 2015. Prominent among them were Grasim Industries at Rs. therefore.22598. Ultratech Cement at Rs.2000 per month. etc. Tyre. so also steel prices. Company will save nearly Rs. at 29422. By prepaying Rs. G.000 annually.000 whereas in the cash market he/she would continue to hold the shares after a week on a delivery basis.9 points at 9136.39 followed by the Nifty gaining 32.’ China’s economy is again expanding faster than expected on account of the government spending on infrastructure and boost to the property market. If stock market as it takes off from a weak closure someone has holding in metal stocks on delivery of 2016.4006. on 20 April 2017.11000 half yearly and Rs.The Sensex changed its direction from negative to the positive territory on Wednesday.184 on 19 April 2017 based on speculative Roongta. the Rs. The demand for steel is rising. Therefore. stock has fluctuated from its recent high of Rs. there is nothing wrong about the metal 2017 will be a watershed year in the history of sector that should worry investors going forward. Fertilizer. Several stocks continued to hit new highs. which was a net importer in 2015- 16 is now expected to export steel in fair quantity in 2016-17.250 going forward and much Attractively priced at Rs. The spurt is likely to take place in the North Indian market too.

Hydrochloric Acid.  1 buy per year assuming caustic soda prices to remain firm at ~$400/tonne.446. I feel it is the usual trick to misguide investors and grab stocks at cheap levels. Sugar and Fertilizer stocks are star performers.29. in various applications such as finishing operations in textiles. Its products are used in various industries such as textiles. Sodium Cyanide. which means there is no sense in short-selling. we believe that the stock is attractively valued. At 6. The chlor-alkali industry is the oldest and the largest Relative Strength (RS) segment of the inorganic chemical industry.050 TPA and operating at ~90% capacity utilization. plant protection. agrochemicals. Fertilizers etc as FY18 is meant for old economy stocks to remain bullish just as I had suggested the FY17 is for mid-cap and small- cap stocks. pharmaceuticals. contact Money Times on stock looks very good on the daily chart for medium-term 022-22616970/4805 or investment..550+) Gujarat Alkalies & Chemicals Ltd (GACL) is a chemical manufacturing company that manufacturers Caustic Soda Lye and Caustic Soda Flakes. fertilizers. therefore. Metal stocks have of course reacted sharply for no reason.3100 close as a result of the phasing out of mercury cell technology in December 2017 in Europe. Aluminum. given  1 buy per quarter the strong EBITDA margin of 27.T. Toluene-based chemicals and Chlorinated Paraffin Wax. refrigeration gases and epoxy. pulp & paper. GACL is one of the largest producers of caustic soda in India with an installed production capacity of 4. It has broken out of the spiral trading range with moneytimes. soaps and detergents. Chlorine. The stock trades above all important levels A Time Communications Publication 11 . It comprises signals a stock’s ability to perform in a caustic soda. dyes and dye intermediates. Technical Outlook: The Gujarat Alkalies & Chemicals Ltd For more details. Steel. The caustic soda market is expected to remain tight over the What you get next two years as significant capacity changes are expected by Most Important . alumina. Potassium Hydroxide. Poly Aluminum Chloride. market. liquid chlorine and soda ash. we cannot derive any logical sense as to where the market is destined as far as Q4 corporate results are in progress. Knowledge of it can lead you to profits. Cement. the Nifty could not even notch a 200 points fall. Anhydrous Aluminum Chloride.support@gmail. It is a bull market and the bulls are managing it from their point of view. general cleansing and bleaching.Association for 1 year at the end of 2017 with several large chlor-alkali plants likely to Rs. In two weeks. Sugar. Pharma.at Rs. Sodium Chlorate. which does not indicate any weakness at all despite so many hue and cries among technical experts about the market heading towards the south. Chloromethanes. alumina. STOCK WATCH By Amit Kumar Gupta Gujarat Alkalies & Chemicals Ltd (BSE Code: 530001) (CMP: Rs.Under such circumstances.com. strong volumes. Sodium Ferro Cyanide. plastics. paper and pulp. water treatment. The aluminum industry is the biggest demand POWER OF RS .35) (FV: Rs. Hydrogen Peroxide. Paper and Tyre stocks are also good. I. manufacture of soaps and detergents.5% for the next two years. The Sensex closed the week at 29368 followed by the Nifty at 9120. The size of the Indian chlor-alkali market is just 7 million tonnes which is just 4% of the global market (170 million tonnes). Caustic soda is used dynamic market. Its products include Caustic Soda. Stable Bleaching Powder. It exports products such as Potassium Hydroxide Flakes and Liquid Chlorine to Europe and West Asia. I. It has ~14% market share in the domestic chlor-alkali market. Investors should continue to focus on their favorite stocks from sectors like Cement.3100 for 1 year driver for caustic soda. The market rallies or declines on good or bad quality of results based on which stock-specific action is witnessed as reflected in the banking results. petroleum.10) (TGT: Rs. Hydrogen. We expect GACL’s revenue to  1-2 buy / sell per day on a daily basis grow at 10% CAGR during the FY16-FY19E period with EBITDA growth at 29% CAGR over the same period supported  1 buy per week by higher realisation and economies of scale. control of pH (softening) of water. do not read too much in such tricks baiting unsuspecting investors with foul games. Potassium Carbonate.5x FY19E  1 buy per month earnings.

1000 crore over FY16-19.1500+) Vardhman Textiles Ltd (VTL) is an integrated textile manufacturer engaged in the manufacture of cotton yarn. overhauling. Its yarn business caters equally to the domestic. This segment has been witnessing over capacity leading to restricted margins and low returns. tow and garments.20 and on dips to Rs. of which Rs. VTL’s core business i. further capex entailed would not disturb the ratio as most of the debt is under the Technology Upgradation Fund (TUF) scheme.1275 for medium-to-long-term investment and a possible price target of Rs.6x in FY16. rotating machineries. Technical Outlook: The Vardhman Textiles Ltd stock looks very good on the daily chart for medium-term investment.09) (FV: Re. Ratnakar Gutte. erection.1304. VTL was able to reduce its debt/equity ratio from 1. Melange.550 + in the next 12 months. EPC contracts and balance of plant (BOP). In spite of incurring a capex over the last 5 years.446. ****** Vardhman Textiles Ltd (BSE Code: 502986) (CMP: Rs. In 1998. trading and other related activities. Its ‘manufacturing’ segment includes manufacturing and supplying of Indian boiler regulations (IBR) and Non IBR piping. The stock trades above all important levels like the 200 DMA level.396 crore. Manufacturing. Its ‘project and related activities’ segment includes fabrication. STOCK SCAN Sunil Hitech Engineers Ltd: A potential multibagger (BSE Code: 532711) (CMP: Rs. Procurement & Construction (EPC) company which started its journey as M/s. Its segments include Projects. Products & Services: SHEL is engaged in EPC. Super Fine Yarns. Himachal Pradesh and Madhya Pradesh. Start accumulating at this level of Rs. Hence. Power and Project Supply.like the 200 DMA level. acrylic and a range of blends. acrylic fiber. The Company was awarded ‘Great Achievers Award for Industry Development – 2016-17’. We believe that this will help maintain EBITDA margins of 20- 21% from 19. It is consolidating after a strong rally and a close above Rs.600 crore is for fabric capacity expansion. it was incorporated as Sunil Hitech Engineers Pvt Ltd and subsequently converted to Sunil Hitech Engineers Ltd in August 2005.14. synthetic yarn.1304. USA and the Far East.1500+ in the next 12 months.10) (TGT: Rs. Its segments include Textiles and Fibre. sugar plants.35 and on dips to Rs. it plans to expand capacity in the fabric space which has better margins. woven fabric. erection and commissioning of boilers. Sunil Engineering Works in 1984 led by Mr. fabrication. Slub and Cellulose Yarns and Fancy Yarns for hand knitting. Its ‘power’ segment A Time Communications Publication 12 . Gassed Mercerised. Ultra Yarns (Contamination controlled). Start accumulating at this level of Rs. In FY17. It plans to incur a capex of Rs. international and captive fabric consumption. As the yarn segment is more volatile.2x in FY12 to 0.1) By Archana Jain Sunil Hitech Engineers Ltd (SHEL) is an Engineering. VTL has ~1. Post expansion. polyester. sewing thread. pressure parts and vessels and technological structures. It manufactures piece dyed fabric as well as manufactures and exports cotton yarn. It constructs utility projects. It has manufacturing facilities in Punjab.20) (FV: Rs. it sold 40% stake (of 51%) in its subsidiary VYTL to its JV partner for Rs. solid waste management. which could help fund its business expansion plans. transmission and distribution (T&D).e. which could result in muted revenue growth for FY17. VTL currently operates at optimum capacity.1350 will lead the stock to a good rally.1 million spindles and a capacity to manufacture over 580 tonnes of yarn per day. With an aim to expand its product basket.410 for medium-to-long-term investment and a possible price target of Rs.8% in FY16 going forward. It offers a range of specialized greige and dyed yarns in cotton. It markets its products in the European Union. grey fabric capacity will rise to 210 million metres (mm) from 170 mm currently and processed fabric capacity will rise to 150 mm from 110 mm (including 18 mm of printed fabric line). It also manufactures products such as Organic Cotton. We expect benefits of the capacity expansion to accrue over the next 2-3 years. electrostatic smoke precipitation (ESP). Yarn and Fabric contributed 51% and 30% to FY16 product sales. Core Spun Yarns. the Company is now focusing on the fabric segment which offers value-added products.

STG Works.8 233. Positives:  Revenue CAGR Growth : 16. Skoda Exports.10 each on 16 February 2016.83 40.86 24.81 1665. Note: As stated in its audited balance sheet of FY16.18 1105. etc. Financial Highlights: (Rs.4%.97 20.22 Electricity Board. It also split the face value of its share from Rs.25 Sales 1472.6% [The Company displayed some stability here.19 31. Municipal Solid Waste and Power.63 12.10 each on 11 August PAT 39. T&D. FY12 . steel and other materials at various project sites.3 973.88 25.218.88 131.86 Projects: SHEL has executed projects across 17 Borrowings States in India.00.8 159.98 27. which indicates that core business operations are successfully generating cash.000.) Gujarat State Electricity Corporation.  Net cash flow from operating activities is stable and positive. warrants aggregating to . Solar Power. 15 18 12 12 12 persons acting in concert with the promoters.1665. Bonus & Split: SHEL issued a 1:1 bonus in 2016.38 29.73 1651. No further announcement has been made about this since.53 to 2.23%. Variations in market cap: (a) The market cap as at 31 March 2016 was Rs.82 crore as at 31 March 2015.8 48.02 73.27%  EPS CAGR Growth : 10.  ROE has increased for the past 3 years and is around 12-13% which is good as it is above 10%  Consistent dividend pay-outs A Time Communications Publication 13 .73 20.55. Tamil Nadu Adjusted Book 238. which were allotted to Dividend (in %) .25 1442.07 240.01 1505.28 Mahadiscom.32 47.34.46 Promoters.75 19. in crore) Chhattisgarh State Power Generation. Civil and Structural Work.58 121. which were allotted to non.includes generation and distribution of solar power in Maharashtra. Equity & Reserves: Its reserves are 23 times its equity capital.Tax 22.82%  Receivables as a % of Net Sales .) . RINL.00.09 875. Dodson-Lindblom. L&T. it has several on-going projects in various segments such as CW Piping.15 55.1%. warrants aggregating EPS (in Rs. were converted into equity .36 crore in FY15.33.41 1841. Long-Term 40.Depreciation 24. PBT 62.82x as at 31 March 2015.000.52 43.77 77.12%  PAT CAGR Growth : 14.1841.67 43.93 342. Tata Projects.24. Based on such strong fundamentals. BALCO.51 753.86 76. Similarly. in crore) SHEL’s turnover grew 11% to Particulars 9MFY17 FY16 FY15 FY14 FY13 FY12 Rs.52 43. JSW Steel. were converted into equity shares of Rs. FY14 . (b) P/E ratio was 28. Road & Bridge Projects.8 crore from Rs.1 298.27. 28.94 15.93 23.7 1300.190.FY16 .00.18 227.33 15.61 30.000 shares of Rs. Operating profit grew 20% to Rs.12 190.11 36.95 crore v/s Rs.1%. BHEL.000 warrants to companies in the promoters’ group at a price of Rs. Its ‘project supply’ segment includes supply of electrodes.13 shares of Rs.87x as at 31 March 2016 v/s 24. A large part of its sales is not backed by receivables (credit). Building Construction.54 15.4 per warrant which entitles the allottee to subscribe 53. Punj Lloyd. Punjab PWD.59 30. which is quite encouraging].10 each.159. FY13 .Interest 67.1 in the same year. Clients: SHEL’s marquee clients include NTPC.98 58. Also. Capital Structure: (Rs.96 229.08 Allotment of Equity Shares: During FY16. Financial Highlights: SHEL’s fundamentals are quite sound and encouraging. Value (Rs.04 18.23 25.55 141. FY15 .97 2015. Performance Review: For FY16.57 206.10 to Re. Particulars FY16 FY15 FY14 FY13 FY12 Reliance Energy.55 Total Expenditure 1352.08 20. Jaypee Group. Equity Capital 17.28 13.91 85.86 Maharashtra State Transmission. This was before the bonus and split took place.81 crore from Rs.38 .366.64 267. SHEL is in the process of obtaining in-principle approval from stock exchanges for the allotment of 53. PBIDT 154.97 crore in FY15. The stock is quoting ex-bonus and on ex-split basis with effect from 1 December 2016. Hindalco.28 22.87 25.84 18.28 12. I believe that the stock has the potential to deliver multibagger returns in the long-term.50. Adani Power. Reserve & Surplus 396.37 20.9 24. (c) The market cap has more than doubled (+212% growth) since its IPO in 2005-06.

2. announced the target of Rs. Even though some of these parameters are turning negative and investors are turning cautious. Karnataka. A Time Communications Publication 14 . SPFL has 25 manufacturing plants at Silvassa in Dadra & Nagar Haveli and 1 dyeing plant at Vapi in Gujarat. fishing nets and leather goods. It exports to 45 countries and has around 127 customers. Industry Growing Opportunities: Mr. The Central and State Governments have granted infrastructure status to affordable housing for urban and rural housing projects in the current Budget.25 MW in Gujarat and 3 MW in Madhya Pradesh).‘Our favorite holding period is forever’. Mumbai-based SPFL manufactures specialized and high margin polyester and nylon yarn. New projects in FY16 amounted to Rs.11 bn) for road. IIP (Index of Industrial week fetching 30% returns in just 2 weeks. STOCK PICK Sarla Performance Fibers Ltd: For handsome returns (BSE Code: 526885) (CMP: Rs. Thus.2 lakh crore ($32 bn) for the infrastructure sector.23.100+ in the long-term. Nitin Gadkari.10 on 27 industrial growth.23-25 in the short-term.3429.00. It is my constant endeavor to recommend fundamentally strong stocks like Sarla Performance Fibers Ltd (SPFL).900 TPA of yarns and 3. 1 April 2015. Its order book stood at Rs.1) REVIEW By Laxmikant Bhole The market paused its upward journey and corrected  Marathon Nextgen Realty recommended at significantly last week given the rising geo-political tension Rs.25) (FV: Re.138. Conclusion: SHEL is fundamentally strong with bright future prospects as the sector is blessed by the Modi government.25 crore representing 23. Its wholly- owned subsidiaries are located at British Virgin Islands (BVI) and USA. Its Silvassa and Vapi plants have an installed capacity of 11.57 crore as at 31 March 2016. and SPFL will benefit from the recent moves of the US government (in line with its protectionist outlook) because of its direct presence in the region.63% industrial clusters and an additional Rs. which again is a positive for the Company. Going by Warren Buffet’s famous quote . I recommend this stock for a price target of Rs. hosiery. Rajasthan.6 bn) for investment in Promoters 35.25 MW (6 MW in Maharashtra.61. hit a high of Rs. Production) numbers were also poor creating concerns about  Vimta Labs recommended at Rs.8 tn ($118.a. Its state-of-the-art 30 TPD POY plant at Walterboro in USA operates at over 30% capacity. narrow fabrics. FIIs have been net sellers over the last few February 2017. the preference of locally sourced products is also rising in USA.48% of the order book at the beginning of 2015-16 i. Rs.107.805. Madhya Pradesh. Hanes and Gildan. Treaties such as NAFTA and CAFTA benefit companies in these regions as they help in duty waiver. Further. 1.6 bn) for developing 27 Public 64.200 TPA of dyes respectively. which is expected to boost India’s GDP to 9%.43/7. States like Bihar. Company Overview: Established in 1995. It caters to global brands like Jockey.75  Risk/Reward: 20/80 Order Book: SHEL’s order book has grown at 5% CAGR over FY12-FY16.50 on 10 April 2017. seat belt. Its plant load factor for FY16 was ~23%.25 tn ($370. car airbags. The demand for synthetic yarn in USA is rising at 5-6% p. this manufacturing facility not only offers customer advantage but also cost advantage over its competitors from China and the ASEAN region. Gujarat. The Central Government aims to complete 1 crore houses by 2019 under various schemes. Its products differ from commoditized yarns given their nature. sportswear. investors should have faith and be patient for quality investments to realize value especially when there is turmoil in the market.265. railway and port Total 100% connectivity projects.345 last between the USA and North Korea. India’s 2016-17 Union Budget has budgeted nearly Rs. the markets to some extent. Uttar Pradesh and West Bengal have planned several projects both on EPC and PPP basis.5 tn ($74. The total length of National Highways is expected to cross ~2. Minister of Road Transport & Shareholding: (in %) Highways and Shipping.37% infrastructure over the next three years including Rs. Maharashtra. Its products find application in innerwear. the overall trend has not yet reversed completely.60 last week days in the cash market while DIIs acted as shock absorbers for fetching 29% returns in less than 2 months. 52-week High/Low . The Company started operations as a commodity manufacturer of Man Made Fiber (MMF) 22 years ago and transformed itself into a high value-added yarn maker in the past decade.000 km in the next 5 years thereby offering significant opportunities in the State/National Highway segment.e. rose to Rs. It also owns Wind Power Capacity of 10.50-70 in the medium-term and Rs.Rs.

which has expanded continuously over the last decade. which reflects their confidence in Mumbai . Key Positives: N. It is also used in various electro-insulating materials. 1. Shoes. picks like KRBL.64 6 16.m. The government has implemented several export promotion measures . Saturday. veteran investor Anil Kumar Goel.85 15. upgrading existing looms to hitech looms and improve the quality of the processing industry. The Company's performance has grown consistently over the last decade at an average CAGR of ~15% except in FY14 and FY16. the stock trades at a comfortable P/BV of ~2x whereas its peers such as Lux Industries and Ganesha Ecosphere trade at over 10 P/BV and 2. The Union Ministry of Textiles. Seat Belts and Car Airbags. ropes. No single customer contributes more than 10% of its Dadar-West nd revenue. renowned Arthakranti pioneer Shri. The stock’s 52-week high/low is Foundation. Revival in the Indian textile industry. to 8. Tata Steel.05/54. 3 Floor.23% of the equity capital Railway Station without any pledged shares. Also.06 13. C. which has set a target of doubling textile exports in 10 years. India Bldg.25 73.62 81 73.68 equity capital of Net Profit 11. Dalal Street. Financial Financial Highlights (Consolidated): (Rs. Being a niche product. NAFTA and CAFTA regional presence.03 6. exports. A Time Communications Publication 15 . between 6 p. its margins are generally higher than other synthetic yarn.5x P/BV respectively. EID Parry.47 19. A seminar in Dadar (Mumbai) scheduled wherein 2. in crore) Performance: Particulars Q3FY17 Q2FY17 Q1FY17 Q4FY16 Q3FY16 Q2FY16 Q1FY16 Q4FY15 SPFL exhibits a strong balance Revenue 72. machine parts.The management showed its intent to ramp up Nylon 66 production last year. Specialized Sewing Applications in Automotive. pipes.84 81. 22 April 2017. Times healthy dividend yield. CST Shareholding: The promoters hold 55.750 (Dadar) Sansthan Maratha equity shares (~3. It has also approved 24 new textile parks that which will create employment opportunities and investments.m. Carborundum Universal Near Shivaji Mandir and Tube Investments of India have fetched him enormous in Star Mall Building. The scheme targets employment generation. lecture by Chandrashekhar Thakur. Shoes.53 14.8. The long awaited National Textile policy. plans to enter bilateral agreements with Africa and Australia while working on a new textile policy to promote value addition apart from finalizing guidelines for the revised Textile Upgradation Fund Scheme (TUFS). who is Mumbai 22/04/17 6.59 79. fluctuations in raw material prices and currency (appreciating Mumbai .34.82 19.27% stake) in the company. Excellent regional revenue mix and product spread. will further accelerate growth in the sector. Chandrashekhar Thakur: CDSL BO Protection Fund. RoE is stable at around 18% whereas RoCE has improved consistently Stock Market Place Date Time Venue over the last decade. Anilji Bokil will be 3.m. Fort. csthakur@cdslindia. Mahila Udyojak dividends to shareholders since more than a decade with a Sanghatana.59 10. Opp. tyres. 16 Floor.specified technical textile products are covered under the Focus Product Scheme. which is likely to be announced shortly. Sawantwadi known for his wise investment decisions. Some of his other rd Samaj Hall. Market Access Initiative (MAI) Scheme and Market Development Assistance (MDA) Scheme.30 p. Such diverse applications of this product will drive the Company’s growth multifold going forward.35 crore and an extremely comfortable debt/equity ratio of 0.96 77. Key Risk: The Company’s profitability remains exposed to th BSE Building. It introduced the Amended Technology Upgradation Fund Scheme (ATUFS) to further boost technology investment in the textile industry. Its net profit margin (NPM).m. conveyor belts. holds 27. The Company has consistently paid Mumbai 22/04/17 2 p.00 p. Plaza Cinema. carpets fibers and apparel. It has also allowed 100% FDI in the sector under the automatic route. 5.400001 the Company. Industrial Filters and Hoses. Kelkar road.49 62.400001 Rupee).55 17. Tel: 9820389051.80. At the CMP.92 12.03 13. Nylon 66 is typically used in Parachutes. Opp. which presents a phenomenal growth opportunity. ball bearing cages.02 5. Times of Rs. leather. Industry Outlook: The Government of India has initiated several export promotion policies for the textile sector.15 10.58. is 17% currently v/s Lux Industries and Ganesha Seminars on Financial Literacy Ecosphere which operate at 3-5% NPM. the main speaker followed by ‘Aaj Rokh Udya Digital’ 4.8 just Rs.87 sheet with an PBIT 16. returns in the past.com.

The report also said that food price pressures could build up anew if El Nino disrupts the south-west monsoon this year while core inflation. On the macro-economic data front. stop loss on particularly the fall in NRI deposits.148 is now at Rs. the stock is an attractive buy at the current level.support@gmail.4 falling 31. Nifty’s weekly closing between 9100 and 9170 tells the whole story.195)  DLF recommended earlier at Rs.91 for a price target of Rs.Conclusion: The future of the Indian textile industry looks promising buoyed by strong domestic consumption.4 points for the week ending Friday.190- 200-204 (stop loss: Rs.222-230-235 (stop loss: Rs.4000 per month. SPFL’s unique position in the market coupled with its strong fundamentals and growth prospects. then expect the trend to reverse. recommendations with buy/sell levels. According to the latest report by Crisil. total external debt at end December 2016 moneytimes. It contributes ~5% to India’s GDP and 14% to the overall IIP.205 for a price target of Rs. The sharper-than-expected fall in inflation over the past few months has already started correcting as remonetisation gained currency.172). If it breaks the 21430 level in the short-term. reflecting the redemption of FCNR (B) deposits and decline in your mobile every trading day of the moth along with pre- commercial borrowings with the fall in both commercial market notes via email for Rs. 21 April 2017. MARKET REVIEW Sensex tumbles By Devendra A Singh The Sensex declined 96.119)  Buy Fortis Healthcare at Rs. the index will gain strength and move towards new highs. Above 21622. retail inflation based on Consumer Price Index (CPI) is likely to average higher at 5% in the current fiscal year on expectations of rising pressure on food prices as well as an uptick in global oil and commodity rates. On a close above 9170.130-135 (stop loss: Rs.123 for a price target of Rs.90-94-98 (stop loss: Rs.1 bn at end December 2016 Free 2-day trial of Live Market Intra-day Calls form the level at end March 2016. which has been sticky. The fall in external A running commentary of intra-day trading debt was due to the fall in long-term external debt. Bank Nifty holds the key as the index is steady. Given the strong domestic and international demand.182 and still looks good above Rs. targets. Among stocks.8% from the end September 2016 level.15 points to settle at 29365. The ~$108 bn Indian textile industry is expected to reach $223 bn by 2021.com to register for a free trial. Consumer inflation averaged 4. On a sequential Contact Money Times on 022-22616970 or basis. A tight range has been formed and a breach of any of these levels on a closing basis will lead to the next move of 150-200 points this week.84 for a price target of Rs. could also edge up if domestic demand improves. It will set the trend for the next 15-20 days. This week is very important being a trend setter for the market in the short-term. bank loans and securitized borrowings.174 for a price target of Rs.6% in the first 11 months of FY17 and could be about 4.7% for the entire FY17. expect 9240-9300-9350 to be tested and on a close below 9100. SMART PICKS Market ready for next move By Rohan Nalavade The market consolidated in a crucial range last week.85)  Buy Radico Khaitan above Rs.3 while the Nifty closed at 9119.80)  Buy Housing Development & Infrastructure at Rs. expect 9100-9050-9010 levels to be seen. declined by $28. A Time Communications Publication 16 .  Buy Ashok Leyland above Rs. Accumulate on dips for handsome returns over the next 12-15 months. India’s external debt fell by $29 bn or 6% to $456.98-104 (stop loss: Rs.1 bn or 5.

20 April 2017.1% for the current fiscal despite the note ban. FDI by Indian companies in their overseas ventures jumped over two-fold to $2. However. Key index tanked on Friday.16%) at 29413.78 mn respectively. Welspun India Ltd (WIL) is a part of $2.47 points (+0. India’s crucial monsoon rains are expected to be 96% of the long-term average in 2017. 27 April 2017. the report noted that demonetisation impacted perishables more but that effect of the move is waning.09 points (-0. which is one of the top three home textile manufacturers globally and the largest home textile company in Asia. Canada and Australia.39. on extended sell-off.79 points (- 0. The Sensex was up 17. on account of global cues. In addition to manufacturing facilities. It has modern manufacturing facilities at Anjar and Vapi in Gujarat where it produces an entire range of home textiles for the bed and bath category.40 mn. expand the manufacturing base and gainfully employ the abundant pool of labour”. of late global prices have been steering it. Welhome and Spaces– A Time Communications Publication 17 . “Medium-term growth prospects are favourable with growth forecast to rise to about 8% over the medium-term due to the implementation of key reforms.Interestingly. The International Monetary Fund (IMF) said in its latest annual World Economic Outlook that. Hygrocotton.49 mn and $53. Europe. 21 April 2017.94) (FV Re. Indian firms had made investments of $1.82 points (+0.1 among home textile suppliers in USA (Source: Home Textile Today).42 bn in their overseas joint ventures/subsidiaries in March 2016. 19 April 2017. While monsoons had a dominating influence on food in the past. The Sensex gained 85. Accordingly.60 mn and issuance of guarantee worth $251. ONGC Videsh Ltd and WNS Global Services invested $75.20 mn and Tata International Ltd with $179.3 bn Welspun group. 17 April 2017. it also maintains its own brands like Christy. The Sensex fell 94. it said. Key index closed higher on Wednesday. the drivers of food inflation have changed over time.53 mn. which predominantly supply to private labels.29%) to close at 29422. Crisil observed that RBI’s monetary policy might have to clearly articulate the glide path to the 4% CPI target in the medium-term. Key index tumbled on Tuesday. vertically integrated plants.99 bn. It has a distribution network in 50+ countries including USA. Key index registered modest gains on Thursday. UK. Key index dipped on Monday. The Indian government in February 2017 had pegged GDP growth at a higher-than-expected 7. “Beyond the immediate challenge of replacing currency in circulation following the November 2016 currency exchange initiative. Major investors include Bharti Airtel Ltd with $765. a senior official at the weather office said.1. It has a state-of-the-art. on fresh buying. on local cues. analysts had raised concerns over the figure.56 points (-0.66. policy actions should focus on reducing labour and product market rigidities to ease firm entry and exit. from spinning to confectioning.99 bn last month. it said. saying it had not taken into account the full impact of demonetisation.06%) to close at 29336. The near month April 2017 derivatives contract will expire on Thursday. 18 April 2017. national and global macro-economic figures will surely dictate the global markets movements and influence investor sentiment in the near future. WIL was been ranked No. loosening of supply-side bottlenecks and appropriate fiscal and monetary policies”. EXPERT EYE By Vihari Welspun India Ltd: Ready for the next move (BSE Code: 514162) (CMP: Rs. It is the largest exporter of home textile products from India. On the monsoon front. Investments came in the form of equities $1. The Sensex was down 57.1) Established in 1985.19%) to close at 29365.32%) to settle at 29319. For future events. The Sensex closed lower by 47. “Policy actions should also boost financial stability through full recognition of non-performing loans and raising public sector banks capital buffers and secure the public finances through continued reduction of poorly targeted subsidies and structural tax reforms including implementation of the recently approved nationwide GST”. Besides.22 mn.57. loans of $742. Investments in March 2017 were much higher than February 2017 at $867.3.

These initiatives will help it meet its FY20 aim of being a $2 bn textiles business company with zero net debt. Wal-Mart and Macy’s.000 TPA in Towels v/s 60.110 crore to set up a state-of the-art fully automated cut and sew unit in the made- ups segment. it plans to spend Rs. we do not expect the current imbroglio as featured in later paras to impact its core business and key customers. Given its longstanding relationships and strong execution capabilities. This Rs.Home and Beyond. The Company also invested Rs. Costco. It has also tied-up with Nautica for the North American markets.600 crore over the next 18 months to make carpets and rugs.000 TPA at end FY16 and 90 million metres in Bed Linen v/s 72 million metres at end A Time Communications Publication 18 . It commenced operations at the state- of-the-art Needle Entangled Advance Textile plant in Anjar in mid-March 2017. WIL’s current capacity is 72. It supplies to 17 of the top 30 global retailers and has marquee clients like Bed Bath & Beyond. WIL recently forayed into new technologies in its technical textile business. Kohl’s.150 crore facility manufactures multi- layer composites for various applications. Further.

its second biggest customer (8% of revenues). It derives ~30% of sales from innovative products. WIL is at the end of its massive Rs. it is exposed to currency fluctuations that can significantly impact its profitability.150.3 crore on  Bank Nifty 13% higher sales of Rs.5% and 31. The agreement will also help enhance the complete supply chain of Egyptian cotton starting from cultivation to the final product.9%. it is set to post an EPS of Rs.8% respectively.1%. It is also putting in place systems like radio frequency identification (RFID) to be able to trace back all its products from cotton to finished products so that the one-time charge will include these expenses. the two organisations will work together to create programmes for promotion of Egyptian Cotton logo in the retail markets across the globe. Based on the current going.48 crore on rush and subscribe to Profitrak Weekly account of reduction in the base rate and higher quantum of debt under the Gujarat textile scheme.35.9 crore mainly 5) Winners for trading and investing for medium- on account of Rs. As at 022-22616970/4805 or moneytimes. metres at end FY16.130.5 crore Telephone or via Skype or Team Viewer. have terminated their Egyptian What you Get? cotton contracts only but continue to work with the firm. Annualised pre-tax ROCE (excluding the impact of one-time provision) and ROE for 9MFY17 stands at 21. Application of this product can be explained on the During Q3FY17.7.7 crore in Q3FY16.4883.147.3545 crore and its Net DER worked out to 1. The stock’s 52-week high/low is Rs. which leaves 9% stake with the investing public.9 crore fetching a 3) Weekly Trading Signals consolidated EPS of Rs. depreciation was higher at Rs. metres by end FY17 from 8 million sq. 1 year: Rs. The promoters hold 73. its share book value works out to Rs.5. it is expected to generate strong free cash flows and lower its leverage further.1500.90/46. FIIs hold 11. which will also benefit the Egyptian farmers and the industry as a whole.100. Subscription Rate: 1 month: Rs. net fixed assets were up by Rs.120 in the medium-to-long-term.1. the stock trades at a forward P/E of just 18. contact Money Times on at Q2FY17.5% of the equity capital.761 crore. Its capacity for Rugs and Carpets is expected to reach 10 million sq.12000 With an equity capital of Rs. it had incurred a 4) Stock Views and Updates every week net loss of Rs.8 in FY18.5735 crore. its net profit declined 15% to Rs. its net profit fell 59% to 6) Winners of 2017 with fresh Weekly Signals on the same Rs. WIL will invest $3 mn over the next few years to support the joint initiatives.154 crore whereas loans and advances given were Rs. During 9MFY17.5 in FY17 and Rs. WIL enjoys long-standing relationships with top retailers in USA and Europe and supplies to 14 of the top 30 global retailers.94. except for Target Corp.2500 crore capex programme it had undertaken in FY14 with only Rs. A reasonable P/E of 15x will take its share price to Rs. 9MFY17. PCBs hold 3. primarily on account of the capitalisation of the on-going modernisation and expansion For 1 full year with interaction. It has 7 trademarks and has applied for 6 patents till date.3:1.19. Last month.4 crore fetching an EPS of Rs. which accounted for 6% of its overall  Sensex revenue.2500 crore.2500.support@gmail. As the Company exports over 90% of its production to 50 countries. WIL entered into a strategic agreement with Cotton Egypt Association to promote and market Egyptian cotton products worldwide.5979.501 crore penalty in quality related issues to-long term till March 2018 with Target Corp. Its other clients such as Wal-Mart Stores Inc.5% and DIs hold 2. 2) Sectoral View of Strong/Weak/Market Perfomer During Q3FY17. As For more details.8.5 crore and reserves of Rs.1789.FY16. Going forward.207. It commands a lion’s share of home textiles exported out of India. The growing geographical and client diversification is improving the Company’s risk metrics. During Q2FY17.99.119.2 crore indices on marginally lower sales of Rs.194 crore at Rs. The value of its gross block was Rs.  Nifty For FY16.75x on FY18E earnings. the Company’s debt was Rs. WIL’s net profit climbed 31% to Rs.5 crore on sales of Rs. Finance cost was 18% lower Y-o-Y at Rs.800 crore to be spent in FY17. projects. Cash was Rs.com. has declined to 3-5% of its overall revenue. Profitrak Weekly Target Corp had cancelled its contract because of the A complete guide for Trading and Investments based origin/provenance issue related to the Egyptian cotton used on Technicals in its bed sheets. Under this agreement. 1) Weekly Market Outlook of - Egyptian cotton.1887. WIL continues to work with all its top clients.8x on FY17E and 11. At the CMP of Rs.5 crore fetching an EPS of Rs. and Bed Bath & Beyond Inc. A Time Communications Publication 19 .715.9 crore due to the aforesaid issue on 12% higher sales of Rs. v/s Rs.2.2 crore.

94 8.51) (FV: Rs. During Q3FY17.23. EBITDA grew at 47% CAGR from Rs. . zoomed to Rs.10 each.31 crore in 9MFY16 on lower sales of Rs.10) 2017.35 255.33 crore v/s Rs. in crore) Rs. The proceeds of the net issue will be utilised for pre-payment and repayment of loans as well as for general corporate purposes. the Middle East and Africa.173 crore in FY12 to Rs.85. PEL posted marginally higher PAT of Financial Performance: (Rs.21.71 17.36 crore v/s Sales 57.55 crore supported by reserves of Rs. On the upper side.49/share. elastics. TECHNO FUNDA By Nayan Patel REVIEW Pioneer Embroideries Ltd  Makers Laboratories recommended at Rs.236 equity shares by the Selling Shareholders.47 crore over the same period.15 crore to Rs. torchon/bobbin laces. The issue opens on Wednesday. the Company allotted 30 lakh preferential shares to the promoters at Rs. . The price band is fixed at Rs. the public issue is expected to fetch Rs.0. Incorporated in 1991. Its products include apparels.36 32. The Company’s consolidated revenue from operations grew at 33% CAGR from Rs.31 16.33 0. 0.128 crore while PAT grew at 33% CAGR from Rs.40-45 levels in the last one year and looks good at the current level after a strong consolidation. .27 crore to Rs.0.57.31 16.17. The huge difference Tax .) 0. which indicates that its interest cost will decline going forward leading to higher profitability.94 PBT 0.46 other income and exceptional items of Rs.17 0.65-70 levels in the short-term.71.1.0. it posted PAT 0. A Time Communications Publication 20 . solutions and services across the education lifecycle through its K-12.75. S. motifs/collars/necks and torchon/bobbin laces. it offered 55 consumer brands across knowledge products and services.144 last week fetching 44% returns.32 crore in Q3FY16 on lower sales of Rs. The promoters hold 30. Chand) proposes to raise up to Rs. S. In October 2016.01 crore in FY16.45 crore respectively.36 32.35 65. As at 31 December 2016. The stock has formed a strong base at Rs.55 crore.728.325 crore through its IPO and an offer for sale (OFS) of up to 60.35% stake with the investing public. flat bed knitted laces. IPO opens on 26th April Leading text book publisher. embroideries. dope dyed polyester yarns.177.99. it could zoom to Rs. Mumbai-based Pioneer  Bharat Seats recommended at Rs. Particulars Q3FY17 Q3FY16 9MFY17 9MFY16 FY16 During 9MFY17. It also exports to North America.98 177. Latin America.32 1. Embroideries Ltd (PEL) manufactures and sells zoomed to Rs.55 on 12 December 2016.538 crore in FY16.36 Rs. At the upper end of the price band. Europe. Investors can buy this stock with a stop loss of Rs.660-670 per share of Rs.44. raschel laces and other garment accessories.0. PRESS RELEASE S.32 1.32.98 crore.35 crore fetching an EPS of Re. Chand and Co. Chand and Company Ltd (S. embroidered fabrics and laces including fancy laces.95 on 13 March (BSE Code: 514300) (CMP: Rs.14. It is also engaged in the retail business of embroidered clothing under the brand name ‘Hakoba’.94 190. Its textbooks and instructional materials are supported by its offering of technology driven methods of education and digital learning. PEL has an equity capital of Rs. 28 April 2017. 26 April and closes on Friday.93 and Rs. which leaves 69.33 0.40 last week fetching 55% returns.46 crore fetching an EPS of Re.17 0.72.345.65% of the equity capital.01 in the PAT figures is because in 9MFY16. The stock’s all-time high is Rs. Chand is an education content company that delivers content.23 crore EPS (in Rs. PEL has reduced its debt from Rs.367 crore in FY09 to Rs.21. higher education and early learning segments. it posted PAT of Rs.

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