SmartInvestment English Newsletter 20191215

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Only Financial Weekly Published in English & Gujarati Page
55
GAMC No. :1703/2018-20. Issued by SSP Ahd. Valid up to 31-12-2020

VOL : 12 • Issue No: 44 RNI No : GUJENG / 2008 / 24320 15th Dec. to 21st Dec. 2019
FII Activity (Rs. in Cr.)

Date Buy Value Sell Value Net Value
9-12-19 4185.86 3726.64 459.22
10-12-19 4072.56 4439.35 -366.79
11-12-19 5022.53 4417.12 605.41
12-12-19 4480.31 5164.14 -683.83
13-12-19 4632.38 4516.68 115.7
TOTAL 22393.64 22263.93 129.71
DII Activity (Rs. in Cr.)
DATE BUY VALUE SELL VALUE NET VALUE
9-12-19 2296.07 2221.14 74.93
10-12-19 2696.96 2358.56 338.40
11-12-19 3421.44 3181.57 239.87
12-12-19 3474.22 2663.99 810.23
13-12-19 3954.84 3569.92 384.92
TOTAL 15843.53 13995.18 1848.35
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Financial Weekly
SMART 15th December to 21st December 2019 4

INVESTMENT
Prince Pipes and Fittings

Fit for your investment portfolio
Prince Pipes’ net profit was up at Rs. 83 crore for 2018-19 against Rs. 73 crore
for Rs.2017-18. Revenue was up at Rs.1578 crore against Rs.1326 crore
Corporate Feature
Prince Pipes is a leading polymer
pipes and fittings manufacturer in In-
dia, having 30 years of experience in
the industry. It sells products under two brand names:

Prince Piping Systems; and Trubore. The company
currently manufactures polymer pipes using four dif-
ferent polymers: UPVC; CPVC; PPR; and HDPE, and
fittings using three different polymers: UPVC; CPVC;
and PPR.The products are used for varied applications in plumbing, irrigation, and soil,
waste, and rainwater (“SWR”) management. The product range meets the requirements of
both the rural and urban markets.
IPO Details Prince Pipes and Fittings is entering

Issue Opens : Dec 18, 2019 into to the capital market with an IPO next
Issue Closes : Dec 20, 2019 week. It has fixed a price band of Rs.177-
Issue Type : Book Built Issue IPO
Price Band : Rs.177-178 178 per share. It will raise Rs.500 crore
Total Issue : Size Rs.500 crore through this IPO. The IPO will open for
- Fresh Issue Rs.250 crore
- Offer for Sale Rs. 250 crore public subscription on December 18 and
Pre-IPO Placement : 5,965,000 equity shares close on December 20. The company's
(Rs 106.18 crore)
-Anchor bidding : 17th Dec 2019 Rs.500 crore IPO comprises Rs.250 crore
Face Value : Rs10 Per Equity Share through fresh issue of shares and an equal
Market Lot : 84 Shares
Listing : BSE, NSE amount through offer-for-sale. JM Finan-
Lead Manager : Edelweiss Capital cial and Edelweiss Financial Services are
JM Financial Consultants
Registrar : Link Intime India Pvt. Ltd.
Cont....
Financial Weekly

INVESTMENT
Prince Pipes has 5 manufacturing units in various states. The company is also planning
to open two manufacturing units at Jobner (Rajasthan) and Sangareddy (Telangana)
the book running lead managers to the Financials of Prince Pipes and Fittings
Particulars Financial Years (Rs. Million)
issue and Link Intime India Private Ltd 2018-19 2017-18 2016-17 2015-16
Total Assets 10,404.13 9,798.77 7,605.05 6,533.00
is the registrar for the IPO.After allot- Total Revenue 15,789.95 13,265.71 13,324.95 10,816.18
Net profit 833.51 727.66 741.82 295.35
ment, equity shares will be listed on the
NSE and BSE.
Promoters of Prince Pipes
The revenue from operations for fis- Jayant Chheda
cal year 2016, 2017 and 2018 was Chairman and MD Experience : 30+ Years
• Associated with the Company since in-
Rs.1081 crores, 1332 crores, 1326 corporation
• Awarded the Lifetime Achievement
crores, and Rs.1578 crore respectively, Award‘ at the Vinyl India Conference,
2014
representing a CAGR of 10.52%. Net
Parag Chheda -
profit was Rs.29 crores, Rs74 crores, Executive Director - Exp. : 21+ Years
• Associated with Company since 1996,
Rs.73 crores and Rs. 83 crore respec- holds an associate degree in business ad-
ministration from Oakland Community
tively, representing a CAGR of 57.49%. College
• Felicitated with the ‘Inspiring Business
EBITDA was Rs.98 crores, Rs.160 Leader Award – 2016’ at the Economic
Times Summit
crores, and Rs.161 crores respectively, Vipul Chheda-
Executive Director
representing a CAGR of 28.39%. Exp. : 20+ Years
• Associated with Company since 1997
Prince Pipes provides an end to end
solutions across a wide product range
(7,480 SKUs as on 30th June 2018). It Product Portfolio
has 5 manufacturing units located at
Haridwar (Uttarakhand), Athal (Dadra
and Nagar Haveli), Dadra (Dadra and
Nagar Haveli), Kolhapur (Maharashtra)
and Chennai (Tamil Nadu). Besides, two
contract manufacturing units are located
at Hajipur (Bihar) and Aurangabad
(Maharashtra). The total installed capac-
ity of all the five existing plants is 242,916
Cont....
Financial Weekly

INVESTMENT
Net Revenue from Operations PAT & PAT Marging

.3 % PAT Margin
R 12 15,719
CAG 5.9% 5.5% 5.3% 7.0%
13,150
12,465
C AG R 6.0%
834
742 728
3,798
267
FY17 FY18 FY19 Q1FY20

FY17 FY18 FY19 Q1FY20
Object of the Issue

1. Repayment or prepayment of certain outstanding loans
2. Establishment of a new manufacturing facility
3. Upgradation of equipment at the manufacturing
facilities
4. General corporate purposes
Competitive Strengths
- Strong brand presence in pipes and fittings segment
- Diverse product portfolio
- Multi-location manufacturing units in India
- A strong presence in North, West and South India
- A pan-India network of distributors
- Technical collaboration with international players to
maintain quality of products
tonnes per annum as of July 31, 2018.

The company is also planning to open two manufacturing units at Jobner (Rajasthan) and
Sangareddy (Telangana). Prince Pipes and Fittings Ltd has 10 warehouses to store the
products. The company sells the products under Prince Piping Systems brand name to 843
distributors which further sell them to wholesalers, retailers and plumbers. The products
under Trubore are directly sold to 212 wholesalers and retailers.
Prince Pipes and Fittings continuously aims at growing its product range to meet the
needs of a growing India. It is committed towards constant innovations in plumbing, irriga-
tion and sewerage technologies to meet the nation’s constantly increasing water demands.
Prince Pipes constantly strives to pave the way for a future that provides clean water for
everyone and everywhere; from the smallest villages to the largest cities.Water conserva-
tion is as important as leak-proof water transport. The company also provide Borewell
systems for groundwater extraction. ***
Financial Weekly

INVESTMENT
Smart Education : Ankit Gala (9819664831)

Important Economic Factors
Government Budget - Deficit & Corporate Tax
Last week we understood what the effect of Inflation and Interest Rates on the entire economy
and specially the stock market. This week we will see other such important economic factors like
Government Budget & Deficit and Corporate Tax Structure and how they affect stock market.
Government Budget & Deficit :- Every year, our government prepares a central bud-
get which provides complete information on revenue, expenditure and deficit of the government for
the given period.
Government revenue comes from various direct and indirect taxes and government expenditure
happens on various developmental activities.
A fiscal deficit, also known as current accounts deficit or the budget deficit arises whenever a
government spends more money than it brings in during the fiscal year. This deficit is common
among contemporary governments all over the world.
For financing the deficit the government goes for external and internal borrowings.
Fiscal deficit is expressed in percentage terms of the GDP.
Each year's fiscal deficit adds to the debt of the country. As the debt grows, it increases the
deficit in two ways-
" First, the annual interest on the debt must be paid which increases spending and not providing
any benefits.
" Second, higher debt levels can make it more difficult to raise further funds as creditors become
concerned about the borrower's ability to repay the debt. In such situation, they demand for
higher interest rates to provide greater return on this higher risk which further increases each
year's deficit.
Global rating agencies put a premium on a lower fiscal deficit number. Hence a lower figure of
fiscal deficit is always desirable as it allows a country to mobilize more foreign capital which is the
key to rolling out infrastructure projects and driving the economy higher.
Corporate Tax Structure :- A corporate tax is a tax levied on the corporate earnings. It
is one of the major sources of revenue for the government.
The rate of corporate tax has an effect on economy. The balance between cutting corporate
taxes and ensuring economic growth is a fine one.
Although in short term, it may reduce government revenues thereby increasing fiscal deficit but
in long term, it attracts more foreign investments, develops more businesses and has a positive
effect on the GDP.
Recently on 20th September 2019, Finance Minister Nirmala Sitharaman announced a big re-
duction in income tax rate for corporates. The government has slashed basic corporate tax rate to
22% from 30% while for new manufacturing companies it has been cut down to 15% from 25%.
The effect of these rates cuts were seen on the stock indices with both Sensex and Nifty ending
the day with gains of around 4 - 5 %. That's not all, in last two and half months since then both
Sensex and Nifty have climbed around 13.5%.
Next week we will see other economic factors like Balance of Payment, Forex Reserves &
Exchange Rate and how they affect stock market.
To learn Fundamental Analysis you can read the book Fundamental Analysis of
Shares by Ankit Gala & Khushboo Gala. Book is available in English.
Financial Weekly

INVESTMENT
Should L&T script worry investors?

By Vijaya Kittu M, GetPaidIndia.com
The author feels that the technical of fundamentally good stocks sometimes gives scary signs for inves-
tors. He is on WhatsApp at +91 98495 19188.
The technical chart of infrastructure giant Larsen & Turbo (LT) seems to be reflecting more negative
news than positives. Both oscillators, as well as moving averages, are showing more red. Trend indicators
like SuperTrend and Parabolic SAR are in a bearish mood. Moreover, there was a death cross on charts
according to 50-200 day simple moving averages. All this is a perfect situation for bears. However, this
situation is scary for investors, as well. That brings us to the question: Should L&T investors worry?
Prima facie, it appears business as usual for the company. There is the regular inflow of new business in
the form of contracts (many of which as of significant size) according to project classification. For example,
L&T Construction got solar water pumping system order from Maharashtra, substation project for govern-
ment utilities in UAE, few more orders in the Middle East, an add-on order from Qatar Expressway, an order
from RVNL amongst others. Even subsidiary companies like L&T Infotech reported new business deals in
recent times.
The company has strong project execution capabilities and both technical and management capabilities.
The company balance sheet looks robust and the EPS of the company is improving quarterly on YoY
terms. Financial parameters like RoE is showing signs of growth during H1FY20 - a quarter that has been
challenging for the entire Indian economy. Any improvement in Government infrastructure spending will
make the company even more robust. The company is continuously increasing its non-infrastructure busi-
ness by focusing more on IT & Technology Services and Financial Services. These business diversifica-
tion steps will make the company more resilient to broader economic cycles.
What is concerning is that there are (very) minor shifts in the shareholding patterns. While FIIs, Insur-
ance companies and other DIIs have reduced stake very marginally, it is the non-institutional investors and
MFs that have increased. Historically, this is proven to be a positive sign.
From an investor portfolio perspective, the company is still a majorly-infrastructure stock (~45%) and is
hence suitable for moderate to high-risk investors only. The stock is a medium risk low return stock and
hardly beats the index over the long-term and hence fits for the portfolio diversification needs of the investor
only. The negative stock returns (~-10%) despite an increase in sales and profits in the last two quarters is
giving head-room for margin of safety. Stock SIP approach is the best accumulation approach for this stock
because the stock usually takes a permanent seat in the portfolio.
Avoid financial accidents! Become an empowered investor

Learn the Art of Investing by attending our learning session near you.
Delhi (5 Jan 2020)

To register for our seminar, WhatsApp to +91 98495 19188
Financial Weekly

INVESTMENT
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Financial Weekly

INVESTMENT
Rapid Fire Stocks
Kalpna J (Email- Kjtech79@gmail.com)
(Ring : 97690 37711) Twitter : @Kj_TechTrades
CONCOR (Buy at CMP : 577)

Target - 650-730 ,SL- 450, Time Frame 9 to 24 Months (Add in Dips)
TRIGGERS :- Q2FY19 standalone net profit rises 46.94% yoy to Rs336.35cr. The company’s
standalone revenue stood at Rs1,822.28cr, up 26.12% yoy and 16.2% qoq.
Container Corp’s revenue in Q2FY19 grew by 26.1% yoy to Rs1822.3cr. EBITDA grew by 62%
yoy to Rs504.2cr in Q2FY19 vs. Rs311.2cr in in Q2FY18. EBITDA margin in Q2FY19 stood at
27.7% vs. 24.9% in Q1FY19 vs. 21.5% in in Q2FY18. PAT grew by 46.9% yoy to Rs336.4cr in
Q2FY19
Container Corporation of India Ltd. (CONCOR), was incorporated in March 1988 under the Com-
panies Act, and commenced operation from November 1989 taking over the existing network of 7
ICDs from the Indian Railways.
Core Business :- CONCOR's core business is characterised by three distinct activities, that of
a carrier, a terminal operator, and a warehouse operator.
Carrier :- Rail is the mainstay of CONCOR's transportation plans & strategy. Majority of CONCOR
terminals are rail-linked, with rail as the main carrier for haulage. Facilities are, however, provided
for first and last mile transportation by road also. As rail is price-competitive over long distances,
the price advantage can be passed on to clients, thus allowing for flexible and competitive pricing.
The rail link also plays a major role in decongesting our ports and the road corridors that lead to
these ports.
Though rail is the mainstay of CONCOR's transportation plan, some CONCOR terminals are
exclusively road-fed as well. Road services are mostly in the form of supplementary services to
provide the door to door linkages having carried the bulk of long lead by rail. However, where ever
it is operationally or economically a superior option, road is used as an alternative to rail as well.
Terminal and CFS Operator
CONCOR started operations in November 1989 with 7 Inland Container Depots (ICDs). We
have since extended the network to a total of 79 terminals, of which 14 are export-import container
depots, 7 strategic tieups and 22 exclusive domestic container depots and as many as 36 termi-
nals perform the combined role of domestic as well as international terminals.
Cont...
Financial Weekly

INVESTMENT
CONCOR's customs bonded Inland Container depots are dry ports in the hinterland, and serve
the purpose of bringing all port facilities including Customs clearance to the customer's doorstep.
The terminals are almost always linked by rail to the Indian Railway network, unless their size or
location dictates that they be linked by road. The rail links enable us to facilitate the moving of large
volumes over long distances in the most cost effective manner.
CONCOR's terminals provide a spectrum of facilities in terms of warehousing, container park-
ing, repair facilities, and even office complexes. As CFS operator, CONCOR adds value to the
logistics chain by offering value added services such as
Transit warehousing for import and export cargo
Bonded warehousing, enabling importers to store cargo and take partial deliveries, thereby de-
ferring duty payment
Less than Container Load (LCL) consolidation, and reworking of LCL cargo at nominated hubs
Air cargo clearance using bonded trucking
In the area of domestic business door pick up and door delivery services are the most popular.
We also use our terminal network to plan hub and spoke movements that allow single customers to
move cargo to multiple locations at a single time, with CONCOR taking care of the distribution and
re distribution requirements.
The key value we offer is the provision of a single-window facility co-ordinating with all the
different agencies and services involved in the containerized cargo trade, from Customs, Gateway
Ports, and Railways, to road hauliers, consolidators, Forwarders, Custom House Agents and ship-
ping lines. To achieve a high degree of customization, we offer packages designed to provide the
most cost-effective combination of road and rail. This enables us to offer services which can be
individually tailored to every customers specifications, minimizing customers own efforts.
Financial and Physical Performance
Financial and Physical figures of CONCOR for the last ten years are displayed as under. As can
be seen, the financial and physical performance during the last decade clearly brings out to suc-
cess story of CONCOR's growth.
From its humble beginning, it is now an undisputed market leader having the largest network of
79 ICDs/CFSs in India (72 terminals and 7 strategic tie-ups). In addition to providing inland trans-
port by rail for containers, it has also expanded to cover management of Ports, air cargo complexes
and establishing cold-chain. It has and will continue to play the role of promoting containerization
in India by virtue of its modern rail wagon fleet, customer friendly commercial practices and exten-
sively used Information Technology. The company developed multimodal logistics support for India's
International and Domestic containerization and trade. Though rail is the main stay of our transpor-
tation plan, road services and also provided to cater to the need of door-to-door services, whether
in the International or Domestic business.
CONCOR is committed to providing responsive, cost effective, efficient and reliable logistics
solution to its customers. It strives to be the first choice for its customers. CONCOR is a customer
focused, performance driven, result oriented organization, focused on providing value for money to
its customers.
The mission of the Company is to join its community partners and stake holders to make CONCOR
a Company of outstanding quality. To provide responsive, cost effective, efficient and reliable lo-
gistics solutions to its customers through synergy with community partners and ensuring profitabil-
ity and growth. To be the first choice for our customers, the Company remains firmly committed to
its social responsibility and prove worthy of trust reposed in it.
Cont...
Financial Weekly

INVESTMENT
NIIT (Buy at CMP - 1490)

Targets - 1555 to 1688 , Time Frame - 5 to 9 Months,
SL- 1317 (Add in Dips)
The company’s consolidated

revenue stood at Rs825cr, up
4.6% qoq and 16.4% yoy.
NIIT Tech reported better than

expected numbers for Q1FY19.
Revenue grew by 4.6% qoq to

Rs825cr against consensus esti-
mate of Rs807cr.
Banking and Financial Services vertical was up 8.8% qoq aided by growth in top accounts in
US and ramp up in new accounts in EMEA. Added two new accounts during the quarter.
Insurance was up 10% qoq aided by growth in key accounts in US and NIIT Insurance Tech-
nologies Ltd. There were three new accounts added during the quarter.
NIIT Technologies is a leading IT solutions organization, servicing customers in North America,

Europe, Japan, Asia and Australia. It offers services in Application Development and Maintenance,
Enterprise Solutions including Managed Services and Business Process Management to organi-
zations in the Financial Services, Transportation, Retail, and Manufacturing and Government sec-
tors. The Company is certified in accordance to the ISO 27001 standard and also assessed at SEI
CMMI - Level 5 Version 1.2. The Company has world-class development centres at New Delhi,
Kolkata, Mumbai, Bangalore, Atlanta, London and Singapore. The company also has a sound
Business Continuity Plan in place that can address any natural or accidental disasters at its devel-
opment and operation centres.
Cont...
Financial Weekly

INVESTMENT
Tech Mahindra (BUY at CMP 761 )

Targets - 888-950 , Time Frame - 6 to 24 Months, SL - 640 (Accumulate)
Tech Mahindra Limited is a specialist in digital transformation, consulting and business re-engi-
neering solutions and is a part of the Mahindra Group. Started its life in the year of 1986 as Mahindra-
British Telecom Limited, for over two decades, Tech Mahindra has been the chosen transforma-
tion partner for wireline, wireless and broadband operators in Europe, Asia-Pacific and North
America.
As a leading provider of IT Solutions to the Telecom industry, the company committed to quality,
Tech Mahindra adds value to client businesses through well-established methodologies, tools
and techniques backed by its stringent quality processes. It is ISO 9001:2000 certified and is as-
sessed at SEI-CMMI Level 5. Tech Mahindra is a USD 4.1 billion company with 112,800+ profes-
sional across 90 countries, helping over 825 global customers including Fortune 500 companies.
Tech Mahindra’s business process outsourcing (BPO) arm is the ‘Business Services Group’
(BSG), with global presence in 15 countries and handling 300 million+ transactions annually.The
USD 17.8 Billion Mahindra Group is a global federation of companies employing more than 200,000
people in over 100 countries.
The group operates in the key industries that drive economic growth, enjoying a leadership
position in tractors, utility vehicles, after market, information technology and vacation ownership.
Rapid Fire Stocks

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Financial Weekly

INVESTMENT
Smart SME Stocks - Dilip K. Shah
SME Stocks worth Keeping in Mind

Yasho Industries (Rs. 123.00) (Code: 541167) (Market Lot: 1,200 shares)
The shares of this Mumbai-based chemical giant, which has a market cap of Rs. 134 crores, have
consolidated significantly. The shares are likely to be seen in the Rs. 180-200 range in no time once
they catch momentum. The company makes a wide variety of chemicals. The shares touched a high
of Rs. 170 and low of Rs. 110 in the last 52 weeks.
BCPL Railway Infra (Rs. 38.75) (BSE Code: 542057) (Lot Size: 4000 shares)
The Kolkata-based company is engaged in the field of railway infrastructure development, involv-
ing design, drawing, supply, erection and commissioning of 5KV, 50 Hz single phase traction over-
head equipment. Different zones of Indian Railways such as North, Eastern, South Eastern, Central
Railway, etc. are among its key clients. The others include RITES, Durgapur Project, Adhunik Group,
Usha Martin, GSPL, Electrosmith, etc. The company had issued shares at Rs. 35 apiece in October
2018. The shares touched a high of Rs. 45 and low of Rs. 30.50 after that. The company has super
fundamentals. The stock is poised to catch momentum and deliver strong returns in the coming days.
Benara Bearings (Rs. 28.95) (Code: 541178) (Lot Size: 2000 shares) :
This is the time to average the price in this counter. The company, which made a profit of Rs. 3
crores last year, has a good name in pistons and bearings market. The downside from the current
levels is limited, while it should be in three digits in no time. The company had issued shares at Rs.
63 apiece in April 2018, and they were listed at Rs. 64. The stock has corrected significantly, and can
be included in the portfolio with a long-term view.
Disclosures as per SECURITIES AND EXCCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may have investment in this
stocks • I/My family have no financial interest or beneficial interest of more than 1% in the company whose stocks I am recommending • Stop loss is useful for Short
/ Medium Term investor Only • Smart Investment will not be responsible / liable for any loss arising out of investment based on tis advices • Past performance may or
may not be substainedin future " (Dilip K. Shah) Research Analyst : SEBI Regn No. : INH000002152
Financial Weekly

INVESTMENT
TRADNICAL STRATEGY
Email: nimesh@nimeshthaker.com, M. 9228237373
NIMESH THAKER, BARODA
Sebi Registered NO. : INH000005874
Rest-time is Over
Bulls are Ready for Big Move
Last week, As I was expected, nifty had been moved in range of 11800-12100 level, I hope
readers made money who had bought near 11800 level of nifty. I think, global market has cheered
trade-talk between US and China which will definitely improve sentiments of equity market. I think
our market is also ready to celebrate. I expect new high on index in coming days. Next week we
need to watch out one of the important factor which can gives direction to market, that is advance
tax number, which can indicates government spending capacity and will signal about fiscal deficit
figure. On technical point of view, Last week on daily chart, short term trend had changed from
positive to negative, but follow-up selling had not happen and we saw a counter attack by bulls
which indicates control of bulls over market. Let's see in next week, either 12050-12100 resistance
level will be break or consolidation will remain continue. Close above 12150 level, nifty can test
12400-12500 level in coming days, I think so.““On option side, Nifty 12100 and 12200 Call option
has highest open interest indicates that short term trader are not expecting nifty above these level.
while on down side base was sifted from 11800 to 12000 on as 12000 Put option has highest open
interest. so above data indicates that either nifty will move to higher side or will sustain at this level.
With keep in mind all above data, closing near 12100 level gives the hope for rally. I think with
positive global scenario, I expect nifty will move higher as support base had shifted higher side
from 11800 to 12000. Hence I recommend to buy Nifty near 12000 level with stop-loss below
11950 and target 12400-12500 in coming days.
for your investment related queries you can contact me on 9228237373.
BALKRISHNA IND
Buy Range: 950-930 ; Target: 1010-1050
Stoploss: 915 ; Trade size : 10% of trading capital
Rounding bottom formation has confirm on daily chart indicates trend reversal of short term
trend. Daily RSI and momentum indicators indicating strength. I expect stock to test 1010-1050
level in short term hence recommend to buy 10% of your trading capital between 950-930 zone
with stop loss below 915 on closing basis.
Financial Weekly

INVESTMENT
Stock Buzz
Subramanian Mahadevan
dolphincapital@gmail.com
Spencer's Retail Limited (Rs.64)

Nice Ambience!
Spencer's Retail Limited (Spencer's) - is a RP Sanjiv Goenka Group owned food & grocery,
supermarket and hypermarket chain recently got listed post demerger from the parent company
CESC Limited. Since 1863, Spencer's has been a part of the Indian retail landscapespanning the
length and breadth of undivided India. Originally owned by a British gentleman - Mr. John William
Spencer, acquired Indian ownership in the 1960s, and became part of the RPG Group in 1989.In
1995, RPG Enterprises, the flagship company of the RPG Group, launched 'Foodworld' as a joint
venture with Hong-Kong based Dairy Farm International. The joint venture, which operated super-
markets under thename 'Foodworld' and hypermarkets under the name 'Giant', was terminated in
2006. RPG retained 48 of the 93 stores it owned. These were re-furbished and their launch under
the brand name, Spencer's, kicked off a new phase in both the history of the Spencer's brand, and
retail in India.Since inception Spencer's has been a consumer-centric brand, constantly innovat-
ing, pioneering formats, evolving over time but always keeping consumer needs and satisfaction
center-stage. Spencer's carries the promise of innovation, quality, and service with stores at a
convenient location having pleasant ambience and offering wide range of products at affordable
prices.
Numbers Details
$820 Billions Size of Retail Market in India
$549 Billions Food & Grocery Retail (about two-third of total market)
10 % Penetration of Modern Trade within food & grocery
15 ~ 20% Penetration in Metros
Given the size of India's population, rapid urbanization and increasing disposable income, on a
national wide atleast this country has the potential to accommodate atleast four players who has
deep pockets, aspires size and scale with right skills and luckily Spencer's happens to be one of
them. Future Retail (acquired Nilgris, EasyDay and Hertiage Foods), More (now owned by Ama-
zon), Walmart, DMart are some of the serious players in the Indian market.Globally retailers like
Spencer's typically trade at 0.5 times enterprise value to sales, while in growth markets like India,
there is a premium taking the ratio to 0.7. Revenue of 2000+ crore, debt-free firm, owned by re-
nowned business house of India with good corporate governance and clean management, broken
even at FY19 both at EBITDA and PAT level and aggressive expansion through mergers and
acquisition - recently merged Godrej's Nature's Basket with itself are some of the key factors to be
considered for investment. Avenue Super Market (DMart's holding company) trades at 15 times to
sales although it is far superior in terms of profitability and margins, Spencer's market cap is approx.
500 crore provides immense opportunity for appreciation once dust settles in the market. Buy now
for 100% gains in two years with minimum downside from current levels.
Financial Weekly

INVESTMENT
Jatin Sanghavi
Market Scan (Mumbai)
(M) 098205 26455
jatinsanghavi100@yahoo.com
BULLS RETURN WITH A BANG

SET-UP TURNS BULLISH :- As mentioned in the previous article that despite the Short Term
Trend turning down, there was no reason to worry as the overall Bullish set-up remained intact.
This week's bounce-back proves that every dip is a Buying opportunity. The Market staged a bounce-
back on Wednesday after forming a Bullish Harami. Interestingly, not only did the indices made a
higher bottom (Sensex - 40135, Nifty - 11832), but moved higher with help of two Upward Bullish
Gaps (Thursday & Friday) which will now provide the much needed impetus to the Bull Rally.
Short term Trend has been reclaimed as the Nifty is now headed towards its pattern targets of
12338 and 12751.
TECHNICALLY SPEAKING :- Sensex opened the week at 40527, made a high of 41055, low
of 40135 and closed the week at 41009. Thus it closed the week with a gain of 564 points. At the
same time the Nifty opened the week at 11939, made a high of 12098, low of 11832 and closed the
week at 12086. Thus the Nifty closed the week with a gain of 165 points.
On the daily charts, both Sensex and Nifty have formed a Big Opening White body Marubuzo on
the back of Bullish Gap which makes it more potent. Also the weekly time-frame has seen the
formation of Real White body candle with a lower shadow, which indicates buying support at lower
levels. Thus daily as well as weekly candlestick study suggests Bullishness in the near term.
The bounce-back started on Wednesday when both the indices not only made a Bullish Harami
This Weeks Recommendations

Rec. Name CMP SL TGT-1 TGT-2
Buy MRF 63926 63129 65138 66389
Buy Maruti 7214 7116 7365 7525
Buy HDFC 2354 2321 2405 2458
Buy MindTree 763 748 786 811
Buy Hindalco 208 203 216 225
:::: INDEX LEVELS ::::

S3 S2 S1 CLOSE R1 R2 R3
NIFTY 11714 11832 11973 12086 12196 12298 12423
SENSEX 39638 40135 40575 41009 41467 41928 42444
Cont...
Financial Weekly

INVESTMENT
pattern but also formed higher bottoms (Sensex - 40135 & Nifty - 11832) which set the tone for the
current Upward Rally. The higher bottoms are now Trend Reversal points & thus as long as they
are intact, the Upward Rally will continue.
While moving higher, two Upward Bullish Gaps were created in both the indices. The first Up-
ward Bullish Gap is at Sensex 40736-40712 & Nifty 12023-12005; followed by second Upward
Bullish Gap which is at Sensex 40490-40466 & Nifty 11934-11923. Both the above mentioned
Gaps will act as Support in the near future.
Based on Pattern analysis, both the indices remain on the road to achieve Bullish Flag target of
Sensex 41437 and Nifty 12338; with the Failure point being a close below Sensex 38718 and Nifty
11490. On an intermediate time-frame chart, a Bullish Cup & Handle got completed whose target
is at Sensex 42895 and Nifty 12751. Failure point is a close below Sensex 37415 and Nifty 11090.
This week, both the indices reclaimed and closed above the short term average of 20dma (Sensex
- 40663 and Nifty - 11995). Both Sensex and Nifty continue to remain above the medium term
average of 50dma (Sensex - 39827 and Nifty - 11779) and the long term average of 200dma (Sensex
- 38561 and Nifty - 11491). Thus the Trend in the short term timeframe has again turned Bullish
whereas the Trend in the medium term as well as long term Timeframe remains Upwards.
MACD continues in Sell mode, whereas Price ROC is negative and also in Sell mode. RSI (60)
suggests Bullish momentum. Stochastic Oscillator %K (48) is above %D and hence is in Buy mode.
ADX (20) suggests prior trend has lost all its strength. Directional Indicators are in Buy mode as
+DI is above -DI. MFI (57) suggests Positive Money Flow. Thus majority of Oscillators are suggest-
ing a Bullish bias.
Options data for December series indicate highest Call Open Interest at 12000 followed by
12200 and the highest Put build-up is at the strike of 12000. Thus Options data suggests a narrow
trading range with resistance at 12200 and support at 12000.
Financial Weekly

INVESTMENT
Buy or Sell, Confused ?

Let the EXPERTS Help You
Join our Service for 1 Month & We are
Sure. You will be our Lifetime Member
Equity & Commodity Tips
Call Us : 91-9930011789
www.shareinfoline.com
BUY.... BUY....BUY TIPS OF THE WEEK

Co. Name Code Price Co. Name Code Price
Trident 521064 7.50 Auto. Axles 505010 788.00
Sail 500113 40.00 Pidilite 500331 1324.00
IIT 523610 93.00 MindTree 532819 763.00
Tinplate 504966 135.00 Goodricke Gr. 500166 186.00
NMDC 526371 114.00 Divis Labs. 532488 1842.00
Motherson S. 517334 141.00 HDFC 500010 2352.00
Himadri Sp. 500184 58.00 Chola Inv. 511243 316.00
Tata Motors 500570 176.00 Supreme Ind. 509930 1128.00
Hinalco 500440 208.00 SRF 503806 3302.00
Tata Steel 500470 428.00 Astral Poly 532830 1167.00
DLF 532868 228.00 Maruti 532500 7221.00
Escorts 500495 617.00 Tata Elxsi 500408 858.00
ITC 500875 241.00 Bharat Forge 500493 464.00
Tata Global 500800 327.00 BOSCH 500530 15191.00
Jubilant Food 533155 1620.00 MRF 500290 63928.00
Financial Weekly

INVESTMENT
Jignesh R Mehta
(SEBI Registered Research Analyst)
E-mail : support@kiranjadhav.com
Website : www.KiranJadhav.com
Phone: 9327 11 3344 / 9328 11 33 44
Twitter: @jigneshrmehta
A test above resistance is a good news

Indian bourses witnessed some consolidation for Nine trading sessions just before it saw a
good kind of up move in last three trading sessions. This consecutive up moves in last three trad-
ing sessions has brought us to test the exact levels which we talked in our last article. Because, the
high that Nifty tested on Friday was 12098 and our described resistance was 12100 only. Whereas
the high on Bank Nifty on Friday was 32230 which was also near to our described resistance
32000. Now that we have tested our resistance and a renewed up move already started, we should
be safe in the hands of bulls for the week. Since our up moves generated with gap ups, our sup-
ports on both indices are little lower. i.e. the New upside range for coming week on both indices
Nifty and Bank Nifty are 12200 and 32500 respectively. The Supports for Nifty and Bank Nifty are
12000 & 32000 respectively. PCR on monthly derivative data for Nifty & Bank Nifty are rising
which also suggests a bullish bias on the charts. Only on the weekly derivative data the PCR
seems to be on highest side which causes the concern as it suggests a readiness for reversal and
therefore if we get to go to upside range quickly then consolidation from higher levels can't be ruled
out.
RISING STAR:
Shriram Transport Finance Ltd.(1105.2),
NSE: SRTRANSFIN,
SECTOR:Finance-Leasing & Hire Purchase
Cont...
Financial Weekly

INVESTMENT
Shriram Transport Finance Ltd. (1105.2)

NSE: SRTRANSFIN,
SECTOR : Finance-Leasing & Hire Purchase
SRTRANSFIN is the company whose stock price when started taking off from about 785 on-
wards in DEC-16, most of the technical analyst were at the view that a stellar rally could be on the
hands. That price rally did take a notable move up to about 1600 kinds of levels in MAY-18. After
this up move price started going in to the bearish patch. During these bearish patch ever since
MAY-18, price visited nearer levels from where it originally started in DEC-16. However, price has
still managed to once again starting a higher tops and bottoms recently by creating a Triangle
formation as shown in the attached figure. Currently the long term EMA group is in bullish spread
along with short term EMA group is also starting to spread above long term EMA groups. These
EMA is indeed a bullish set up and therefore we can fairly anticipate the breakout of triangle that
we are describing. If that happens, price is ready to once again go to the target of 1600 in 9 months
or so. This view can be ventured with the permission of one's personal financial advisor only if he
agrees to keep stop loss at around 1030 initially and trail it along with developing support lines.
Jignesh R Mehta
SEBI Registered Research Analyst
www.kiranjadhav.com
support@kiranjadhav.com
Phone: 9327 11 33 44 / 9328 11 33 44
Twitter: @jigneshrmehta
Disclosers: Views expressed in this article/articles are personal opinion of Author and it
does not constitute an offer to buy or sell securities mentioned herein. Enough care has
been taken before arriving at these data, figures & charts, however, readers are advised to
do their own assessment before taking any actions in the market. The author and his com-
pany does not take any responsibility for any results that may arise out of using this infor-
mation.
Buy... Buy... Buy on Dips Hold Sell on High

Kotak Bank 1697.00 Ujjivan Fin. 325.00
NBCC (India) 35.00 BOB 101.00
BEL 100.00 Guj. Gas 228.00 IndiGo 1322.00
J.B. Chemical 419.00
IDBI Bank 38.00 Biocon 292.00 Apollo Hospital 1353.00
Subex 5.54
UCO Bank 17.00 HDFC Bank 1262.00 HUL 2005.00
Varun Bev. 700.00
Vedanta 149.00 HDFC Life 588.00 CYIENT 389.00
HOEC 85.00
Hind. Copper 38.00 Navin Flourine 937.00 J K Lakshmi 267.00
Crompton Gr. 244.00
Corporation Bank 25.00 Bajaj Auto 3233.00 STAR CEment 86.00
Nalco 43.00 India Cement 73.00
Mastek 378.00 M&M 620.00
BPL 19.00 Ashok Leyland 81.00
Bajaj Finserv 9199.00 Dr. Reddy 2815.00
HBL Power 15.00 Jaybharat Maruti 223.00
Aavas Fin. 1928.00 Voltas 690.00
Thangamayil Jew. 333.00 INOX Leisure 373.00
Naryana Hru. 310.00 Equitas 101.00
Chennai Petro 115.00 Magma Fin. 55.00
Financial Weekly

INVESTMENT
- Parag Salot
Technical Trading Trends (SEBI Registered Research Analyst)
M. : 91-9930011789
Nifty Overview :- In Last Trading Session, Nifty closed at 12151. As told in our last article Nifty
above 12050 will turn bullish and can see new levels upside. Now its good to buy at these levels or
in dip around 12000/12050 for new upside levels. Nifty support is at 11900/11600 levels.
Bank Nifty Overview :- In Last Trading Session, Bank Nifty closed at 32095. Bank Nifty is in
bullish territory and can move further up from current levels. Bank Nifty immediate support is at
31700 levels while far support is at 31200 levels.
Trading Results
Scrip Name BSE Code Buy / Enter at Did High/ Remarks
Sell Low
Adani Ent 512599 Buy 203 213 Target Achieved
Glenmark 532296 Buy 324 345 Target Achieved
IBulsHsgFin 535789 Buy 265 315 Target Achieved
Kotak Bank 500247 Buy 1655 1718 Target Achieved
Trading Buy
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Cadila 532321 262 255/258 265 275 251
Hexaware 532129 340 335 340 345 330
Just Dial 535648 572 567/570 580 590 560
Trading Sell
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Bata 500043 1730 1770/1780 1750 1730 1810
ICICI Bank 532174 539 550 540 530 560
Jubiliant Food 533155 1622 1650/1660 1630 1610 1675
Reliance 500325 1588 1615/1625 1605 1580 1645
Note : All calls are momentum calls based on technical analysis and all levels as per future prices (If scrip not
available in futures then BSE Cash price). All these calls are given based on daily charts but intra-day signals are
equally important to enter the trade in a timely manner. Timing is very important and we at shareinfoline.com give you
timely calls based on intra-day charts. Read Disclaimer at ShareInfoline.com
Financial Weekly

INVESTMENT
TECHNICAL TALK Dhananjay Kadam

TECHNICAL ANALYST, M. 7588622374
STOCKS FOR HANDSOME GAIN

NIFTY VIEW. :- Last week Nifty
made lifetime high of 12158 after that
it started down move As expected
nifty taken support above 11810 in this
week . Last 3 days nifty opened gap
up and continued upside rally today it
made triangle breakout FII and DII
data showing good buying in Market I
m sure that Nifty will made new high
in this week.
AVANTI FEED - (525.65)

Avanti Feeds is the leading manufacturer of Prawn and Fish Feeds and Shrimp Processor and
Exporter from India.The Company's principal products/services are shrimp feed and processed
shrimp. Its segments are Shrimp Feed and Wind Mills. It manufactures shrimp feed and markets it
to farmers, which is used in aqua culture to grow shrimp. Shrimp are purchased from the farmers
and are further processed and exported to various countries.
Now as per chart pattern from 19th August 2019 this stock was in continuous upward journey
and it start it's movement from 343 to 571.90 that means total 228 points upward trend, but after
such a big upward journey stock went in consolidation zone it was trading in downtrend channel
for straight five weeks showing some profit booking is taking place but this week it made a huge
bullish breakout candle of that con-
solidation channel suggesting that
profit booking is over and new buy-
ing has started, All this chart move-
ment creates one super bullish pat-
tern i.e Flag Pattern on weekly time
frame
So as per this pattern you can
buy this stock as per following lev-
els
CLOSING PRICE -: 525.65,
STOP LOSS -: 508, TARGET -:
575/640/721, TIME FRAME -: 1
MONTH, RR RATIO - : 1:10,
(MAINTAIN SL ONLY ON
WEEKLY CLOSING BASIS)
Financial Weekly

INVESTMENT
SHIPPING CORPORATION (63.90)

The Shipping Corporation
of India is a Government of
India Public Sector Enterprise
with its headquarters in
Mumbai that operates and
manages vessels that ser-
vices both national and inter-
national lines. SCI was estab-
lished on 2 October 1961 by
the amalgamation of Eastern
Shipping Corporation and
Western Shipping Corpora-
tion. Two more shipping com-
panies, Jayanti Shipping
Company and Mogul Lines
Limited, were merged with
SCI in 1973 and 1986 respec-
tively.
SCI started out with 19 vessels. It gradually metamorphosed into a conglomerate having 80
ships of 5.9 million tonnes deadweight (DWT) with interests in different segments of the shipping
trade. SCI was also awarded the prestigious "Navratna" status by Indian Government. It's major
clients are IOC ,BHEL,SAIL ,ONGC ,RELIANCE IND,BPCL & HPCL etc.
On the 21st of November 2019 the Government of India approved the privatization of SCI
Now as per chart pattern from 30th OCT 17 this stock faces major selling pressure it was con-
tinuously making a lower high and lower low pattern indicating further downtrend & it came down
to 25rs from 113rs, and from July 19 to August 19 stock was made a good base by taking constant
support of 25rs level and from September it started to rise from that consolidation, as they say
Trade the chart news will follow, like that only GOI approved the privatization of SCI on 21st Nov
2019. Currently stock made a Bullish Flag Pattern on weekly time frame showing more bullishness
going to come in this stock
So as per this pattern you can buy this stock as per following levels
CLOSING PRICE -: 63.90, STOP LOSS -: 58, TARGET -: 94.35, TIME FRAME -: 1-2 MONTH,
RR RATIO - : 1:5, (MAINTAIN SL ONLY ON WEEKLY CLOSING BASIS)
Financial Weekly

INVESTMENT
Techno Funda Sachin Shah : 9372144204

(Mumbai)
sound stocks growyourwealthwithsachin@gmail.com
ARMAN FINANCIAL SERVICES LTD

(531179 & NSE) (609) (FV 10)
Arman Financial Services Ltd is a category 'A' Non-Banking Finance Company (NBFC) ac-
tive in the 2-Wheeler, MSME, and Microfinance Lending business. The Microfinance division is
operated through its wholly owned subsidiary, Namra Finance Ltd, a NBFC-MFI. The group
operates mostly in unorganized and underserviced segment of the economy and mostly serves
niche rural markets in Gujarat, Madhya Pradesh, Uttar Pradesh, Maharashtra, Uttarakhand, and
Rajasthan through its network of 223 branches and 55 dealer touch points. Arman's big
differentiator from a Bank and other NBFCs is the last mile credit delivery system. They serve
areas and clients where it is simply not possible for banks to provide financial services under the
current market scenario.
H1FY20 H1FY19
Income 100.80 crore Income 60.36 crore
PAT 24.15 crore PAT 12.05 crore
Income Growth 67% PAT Growth 100%
Technical Observations : The stock is trading above its 5,10,20,50,100 and 200 day moving
averages and in buy mode on ADX, MACD, PERABOLIC SAR & SUPERTREND on daily, weekly
and monthly charts. The stock trading at 609 can be bought at CMP and on dips with a target of 775
over the next 15 to 18 months.
Financial Weekly

INVESTMENT
Terrific Shots - Dilip K. Shah
MuthootFinace (Rs.715.00) (Code:533398) :- It is the biggest gold loan provider

company of the country. It has its headquarters at Kochi in Kerala. It has more than 4300
branches in 21 states and 4 union territories. It provides instant gold loan starting from
Rs1500 to Rs1 crore. It has been diverting its business in other services also. It has also
developed micro finance sector and other financial segment. It has diversified its business in
micro finance and other financial segments. To enter into the mutual funds business it has
taken over IDBI Bank's mutual fund business. In September quarter, the company's income
increase from Rs1649.51 crore to Rs2136.89 crore, while profit increased from Rs483.83
crore to Rs857.92 crore. It paid 100% dividend for 2018 and 120% in 2019. The stock is
good option for investment in phased manner as it may touch Rs1000 level in long term.
Grindwell Norton (Rs.568.00) (Code:506076):- It is one of the leading abrasive
and silicon carbide producer of the country. It owns total seven plants at Mumbai, Nagpur,
Bengaluru, Tirupati, Halol, Himachal Pradesh and Bhutan. The company has been witness-
ing steady growth for a long time and management is investor friendly. As against equity of
Rs55.36 crore, the company has reserves of Rs1042.56 crore. In September quarter, the
company's income decreased from Rs416.8 crore to Rs392.3 crore, while profit increased
from Rs40.3 crore to Rs52.08 crore. The stock seems attractive at current price and may
give good return in one year if invested in phased manner.
Sudarshan Chemicals (Rs.393.00) (Code:506655) :-The company is listed in
'B' group with facevalue of Rs2 a share. The specialty chemical company is active in pig-
ment segment. The stock prices remained between Rs440 and Rs291. The company has
presence in 85 countries and product portfolio includes 400 products. As against equity of
Rs13.85 crore, the company has reserves of Rs584.74 crore. In September quarter, the
company witnessed net profit of Rs46.21 crore on income of Rs39.551 crore and other
income of Rs107 crore on consolidated basis. The company may get benefit from ban on
chemical products in China due to pollution issue. The stock has corrected a lot due to
overall correction in the market. It is being traded at PE multiple of 21 which is at 50%
premium on long term average.
ERIS Lifesciences (Rs.462.00) (Code:540596) :- Ahmedabad-based company
has disappointed the investors as it has been giving negative returns since IPO. As against
equity of Rs.13.75 crore, the company has reserves of Rs1136.77 crore. In September
quarter, the company's income increased from Rs264.18 crore to Rs284.80 crore, while
profit increased from Rs85.32 crore to Rs91.71 crore. The company has been witnessing
growth but it has not converted into returns for the investors. Recently it acquired business
from Stride company and rights for one of the medicines from Novartis, in which the com-
pany already enjoys good command. The company recently completed buy-back offer. The
future of pharma sector seems bright so stock may give good returns in future.
Disclosures as per SECURITIES AND EXCCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may have investment in this
stocks • I/My family have no financial interest or beneficial interest of more than 1% in the company whose stocks I am recommending • Stop loss is useful for Short
/ Medium Term investor Only • Smart Investment will not be responsible / liable for any loss arising out of investment based on tis advices • Past performance may or
may not be substainedin future "
(Dilip K. Shah)
Research Analyst
SEBI Regn No. : INH000002152
Financial Weekly

INVESTMENT
Sarvesh Ashok Trivedi
Stock Wave (Mumbai) (Mob) 09820728124
www.chartsanketstock.com
Important supports for Index at 40630

and Nifty Future at 12000
BSE Index (41009.71) :- After coming down to 40135.37, it is moving upward. It shows neutral
position on daily basis, overbought to neutral on weekly basis and overbought on monthly basis.
December 20 to 24 are gain turning days. On upward movement, beyond 41056 it is may go up to
41164, 41400, 41640 and 41879. It may get support at 40630 on downward movement.
Nifty Future (12151.30) :- It shows upward movement after coming down to 11855.30. It shows
neutral position on daily basis, overbought to neutral on weekly basis and overbought on monthly
basis. On upward movement, beyond 12152 it may go up to 12175, 12240, 12310 and 12350. On
the downward movement, below 12100 it may go down to 12040 with support at 12000.
Bank Nifty Future (32095.60) :- It shows improvement after coming down to 31065.30. It shows
neutral position on daily basis, overbought to towards neutral on weekly basis and towards neutral
on monthly basis. On upward movement, beyond 32230 it may go up to 30470 and 32750. On the
downward movement, below 31970 it may get support at 31600.
Asian Paints (1743.95) :- It shows rebounding spurt from bottom of 1666.15. It shows neutral
position on daily basis, towards neutral on weekly basis and overbought position on monthly ba-
sis. On upward movement, beyond 1761 it may go up to 1770, 1790 and 1800. On the downward
movement, below 1740 it may get support at 1730.
Muthoot Finance (717.00) :- It shows upward movement from bottom of 660.80. It shows over-
bought position on daily, weekly and monthly basis. On upward movement, beyond 737 it may be
in range of 745. It may get support at 695.
NMDC (114.75) :- It shows upward movement from bottom of 97.60. It shows neutral position on
daily and weekly basis, while overbought position on monthly basis. On upward movement, be-
yond 117 important level could be at 121 and beyond that a solid improvement is expected. On the
downward movement, support could be at 110.
Pidilite (1324.45) :- It shows slow improvement from bottom of 1278. It shows neutral position on
daily basis, towards neutral on weekly basis and overbought to towards neutral on monthly basis.
On upward movement, beyond 1350 it may go up to 1360, 1372, 1385, 1400 and 1411. On the
downward movement, closing support could be at 1320.
Tata Motors (176.70) :- It shows improvement after coming down to 157.40. It shows neutral
position on daily basis, overbought to neutral on weekly basis and overbought on monthly basis.
On upward movement, beyond 184 it may go up to 190, 198, 205 and 215. On the downward
movement, below 164 it may get support at 158.
Disclosure : The Recommendations are based on technical analysis. There is a risk of loss in trading.
Golden quote :-
Treat your relations and money with equal respect......
because both are hard to make and easy to loose
Financial Weekly

INVESTMENT
Scrip Watch - Siddharth Shah

Inox Leisure (Rs. 373.00) (Code : 532706) :- Inox Leisure has launched a loyalty
programme, Inox Rewards. This will help the firm understand its viewer better, as and when it
collects data from customer usage, goes the theory. The optimism has helped Inox Leisure’s shares
trade near their all-time highs. The stock has risen about 50% this year, and now trades at 28 times
estimated earnings for FY20. Inox is also working aggressively to improve occupancy via alterna-
tive uses of its properties for seminars, conferences, meetings, etc. At the time of announcing its
September quarter results, Inox Leisure had 598 screens across 68 cities. The multiplex company
intends to close FY20 with 642 screens. The emphasis is on improving margins by increasing the
share of non-ticketing revenue (41% of sales mix in 2QFY20) while keeping the pricing (ATP)
affordable. Inox's premiumisation approach and strategy to focus on metro/tier-1 markets is yield-
ing rich dividends. Buy.
MindTree (Rs. 763.00) (Code : 532819) :- Analysts and brokerages are bullish on
MindTree as the company managed to retain the client base. Outlook for the top client remains
strong. The new management at Mindtree is filling the gaps in senior roles with a mix of external
and internal hires. Further, the management indicated focus on large deals and expansion of ser-
vice offerings. Company remains confident in closing a few deals with total contract value of $50-
80 million over next few quarters. Its top client generates more than a fifth of revenue. Revenues
from the top 10 clients constitute 43% of the total. For the quarter ended 30-09-2019, the company
has reported a Consolidated sales of Rs 1914.30 Crore, up 4.37 % from last quarter Sales of Rs
1834.20 Crore and up 9.05 % from last year same quarter Sales of Rs 1755.40 Crore Company
has reported net profit after tax of Rs 135.00 Crore in latest quarter. Accumulate.
Kansai Nerolac (Rs. 528.00) (Code : 500165) :- Kansai Nerolac is one of the
leading paint company which offers a range of products indcluding decorative, automotive coat-
ings and performance coatings. Analysis of historical multiples of Kansai Nerolac Paints (KNPL)
indicates that recovery in passenger volumes may result in higher earnings growth, but has no
bearings on its PE multiples. Kansai trading near its mean PE+ 1SD. Its net profit is expected to
grow at CAGR of 21.5 per cent over FY19-FY22E and improve its return ratios across the same
timeframe. Kansai Nerolac is expected to deliver better sales growth during second half of FY20
as compared to first half of FY20 led by recovery in decorative paint sales and lower drop in indus-
trial paint sales, said Antique. Recovery in East India from floods and lower drop in automotive
volumes will be key catalysts. Buy.
Navin Fluorine (Rs. 937.00) (Code : 532504) : Navin Fluorine International (NFIL)
is one of the manufacturers of speciality fluorochemicals. Navin Fluorine International stock was
up last week after the company announced that it plans to invest over Rs 450 crore over the next 3-
4 years in new project at Dahej, Gujarat. Navin Fluorine International is planning a capital expen-
diture (capex) program at Dahej (Gujarat) through a wholly-owned subsidiary with an estimated
aggregate capital outlay of over Rs 450 crore over the next 3-4 years. The board of directors has
initially approved capital expenditure of approximately Rs 90 crore for site development and re-
lated infrastructure on approximately 74 acres of land for greenfield projects at Dahej (Gujarat). On
a consolidated basis, the company's net profit rose 27.1% to Rs 47.34 crore on a 7.7% increase in
net sales to Rs 272.94 crore in Q2 September 2019 over Q2 September 2018. Buy.
Disclosures : At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above.
The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author
may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also
is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions
undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.
Financial Weekly

INVESTMENT
Market Tips - Het Zaveri
Automotive Axles (Rs. 788.00) (Code : 505010) :- Automotive Axles is an equal

joint venture (JV) between the Kalyani Group and the Meritor Group. Both hold 35.5% stake each.
The US-based Meritor Group is a global supplier of drivetrain, mobility, braking and aftermarket
solutions for the commercial vehicle (CV) and industrial markets. Clients include Daimler India
Commercial Vehicles, Man Trucks India, Mahindra Vehicle Manufacturers (MVML), Ashok Leyland
(ALL), Tata Motors (TML), VE Commercial Vehicles (VECVL), Caterpillar India, Vehicle Factory
Jabalpur and Swaraj Mazda. Meritor Group, the joint parent, makes available the latest technologi-
cal know-how. The expertise is leveraged to design products suitable for Indian vehicles. Five new
products on five platforms were launched in the last five years. The capacity of axle house and
brake assemblies is being expanded. The original cost of Rs 340 crore has been scaled down to
Rs 266 crore on account of subdued demand in the CV industry. The proposed scrap policy being
worked out by the Union government to encourage replacement of aged vehicles with new ones
should benefit the CV segment the most. Its EPS is expected to be Rs 40 for FY 2020 and Rs 51.4
for FY 2021. Buy.
Bajaj Auto (Rs. 3223.00) (Code : 532977) :- Lower channel inventory coupled with
highest share of exports (45% contribution which is immune to BS6 emission) makes Bajaj Aauto
Limited better placed in transitory phase of BS6. BAL also has a relatively higher share of premium
bikes (40% contribution) where the price increase due to BS6 norms is relatively less as compared
to entry level bikes which further reduces impact. Bajaj Auto is aiming to cement its position in the
premium segment with the launch of the Husqvarna Motorcycle brand amid slowing sales in the
broader motorcycle market. Like KTM Motorcycle, the company is expecting the 103-year-old Swed-
ish brand to create a segment in the motorcycle market and become a volume spinner in its niche
portfolio of motorcycles created over the past decade. Husqvarna Motorcycle is part of the KTM AG
group, in which Bajaj Auto owns a 48 per cent stake. Bajaj Auto has unveiled the Vitpilen 250 and
Svartpilen 250 models from Husqvarna’s stable. So, prospects are much better. Invest.
Havells India (Rs. 654.00) (Code : 517354) :- Havells India is a leading FMEG
company (Fast moving electrical goods) with presence across India. Its product range includes
Industrial & Domestic Circuit Protection Switchgear, Cables& Wires, Motors, Fans, Power Capaci-
tors, Luminaires for Domestic, Commercial & Industrial applications, Modular Switches etc. Last
month, Havells India has forayed into the air-purifier segment, in a bid to grab a market share in the
fast-growing segment. The company said it aims to become among the top three players in the air-
purifier segment in the next three years. Launched under the brand Freshia, the new range of room
air-purifier is priced between Rs.14,490 to Rs.43,290 with claims of nine stage filtration process.
So, it grabs every opportunity to increase business. The promoters holding in the company stood
at 59.52%, while Institutions and Non-Institutions held 31.73% and 8.75% respectively. Buy.
Disclosures : At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the
securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no
responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.
Financial Weekly

INVESTMENT
SMART TIPS Smita N. Zaveri
ITI (Rs. 93.00) (Code: 523610) :- Shares of this A Group listed telecom equipment
manufacturer company touched a 52-week high of Rs. 116 and low of Rs. 56. Promoted by the
central government, which holds 90% stake, Bangalore-headquartered ITI has dedicated network
systems units in Delhi, Kolkata, Bhopal, Ambala and other places. It owns state-of-the-art manu-
facturing facilities at Bangalore, Srinagar, and Rae Bareily. The company offers equipment and
total solutions covering transmission, optical, microwave, broadband equipment, and customer
premises equipment. The company has equity of Rs. 897 crores, debt Rs. 1,258 crores, and re-
serves of Rs. 896 crores. For September quarter, income went up by nearly 48% to Rs. 419.50
crores, while net profit declined 5% to Rs. 7.19 crores. Operating profit margin was 7.77%, whereas
net profit margin was 5.55%. The stock can be seen crossing the 52-week price in 2-3 quarters,
and can be a stock of choice.
NOCIL (Rs. 97.00) (Code: 500730) :- Shares of this specialty chemicals company are
listed in A Group. The shares touched a 52-week high of Rs. 173 and low of Rs. 74. Even as
demand slows down in India and China, opportunities for the company have gone up in the US
and Russian markets. Capex of Rs. 150-180 billion of domestic tyre majors, and global capex of
$10 billion, provide long-term opportunities. Capacities are expected to double in view of strong
demand for global rubber chemicals. The company's equity is Rs. 165.42 crores, and reserves of
Rs. 983.42 crores. The company is debt-free. For September quarter, it reported income of Rs.
209.73 crores, and profit of Rs. 55.23 crores. Quarterly EPS was Rs. 3.33. As compared to P/E
multiple of 20 in the case of its peers, shares of NOCIL are trading at a P/E multiple of 8, and are
attractively valued.
Gabriel India (Rs. 119.00) (Code: 505714) :- Shares of this B Group listed auto
parts and equipment company have face value of Re. 1. The shares touched a high of Rs. 159 and
low of Rs. 85 in the last 52 weeks. It is the flagship company of Anand Group. It makes shock
absorbers, front forks, and a wide range of other products for 2/3-wheelers, passenger cars, com-
mercial vehicles, and railways. Its key clients include Bajaj Auto, Honda Motors, Mahindra Scoot-
ers, Royal Enfield, Suzuki Motors, TVS, etc. It has technical collaboration with KYB Coppers, Japan's
KYBSE, Yamaha Motors, etc. The company's equity is Rs. 14.36 crores, debt Rs. 6.98 crores,
while reserves are to the tune of Rs. 575.64 crores. For September quarter, it reported income of
Rs. 472.67 crores, profit of Rs. 18.49 crores, and EPS of Rs. 1.29. Operating profit margin was
6.90%, while net profit margin was 3.91%.
Adani Transmission (Rs. 335.00) (Code: 539254) :- Shares of this electricity
utility are listed in the A Group. The shares touched a 52-week high of Rs. 350 and low of Rs. 180.
The company established presence in Mumbai by acquiring the transmission business of Reli-
ance Infrastructure. It is already the largest power transmission company in the private sector, and
is expanding further. Its assets can be expected to deliver stable income going ahead. Adani Trans-
mission recently sold 25.1% stake in Adani Electricity Mumbai, which caters to over three million
customers, to Qatar Investment Authority for Rs. 3,200 crores. For September quarter, Adani Trans-
mission reported consolidated income of Rs. 2588 crores, and profit of Rs. 230.43 crores. The
stock can deliver powerful returns going ahead.
SEBI Registered Research Analyst)
* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month • All stocks rates
/ indices on 13th December, 2019 unless specified o Stoploos is useful for Short - Medium term investors only
* Disclaimer :- • Smart Investment will not be responsible / for any loss arising out of investment based on its recommendation.
• Though, every care has been taken, we will not responsible for any errors / omissions • All disputes are subject to Ahmedabad
jurisdiction
Financial Weekly

INVESTMENT
Smart super duper - Het Zaveri
J.B.Chemical (Rs.419.00) (Code:506943) :- It was incepted in 1976 and is one of

the fastest growing pharma companies in the country having presence in 30 plus countries. Along
with Indian Unit, Global Unit and Russian CIS Unit it also undertakes contract manufacturing. It
paid 150% dividend for 2014, 500% special and 200% regular dividend in 2015 and 250% divi-
dend in 2016. It paid 75% dividend for 2017 and 100% in 2018 and bought back shares in 2017
and in 2018. The company sold its Russian division before a few years and paid Rs40 per share
dividend to investors. As against equity of Rs.16.05 crore it has reserves of Rs1464.08 crore. In
September quarter, the company's income increased from Rs404.20 crore to Rs428.12 crore, while
profit increased from Rs51.44 crore to Rs95.96 crore. The stock is good option for investment in
small phases. It may give good return in one year.
Tata Motors (Rs.176.00) (Code:500570) :- The stock has been a nightmare for the
investors for last five years. Once the stock had been traded around Rs500 but then it had gone
down to below Rs100 level and now it is being traded around Rs175. The company's 90% income
comes from JLR, which is under pressure due to global slowdown. However, in September quarter
JLR has declared bumper results and promoters have decided to increased stake at price of Rs150,
so the stock has witnessed re-rating. The easing out of tension between USA and China will also
benefit the company. The company is planning to come up with new models and also electric
vehicles. The stock can be purchased with six month target of Rs225.
Bharat Forge (Rs.464.00) (Code: 500493) :- Baba Kalyani promoted company
manufactures forging products for automobile, power, oil and gas, rail, marine, aerospace, con-
struction and mining sector. It has 7000000 TPA manufacturing capacity making it one of the larg-
est forging companies. It has plants in India, Europe and China. As against equity of Rs93.13
crore, the company has reserves of Rs5282.93 crore. In the September quarter, the company's
income decreased from Rs1679.21 crore to Rs1259.45 crore, while profit increased from Rs227.49
crore to Rs244.87 crore. The activities in defense, aviation and railway are gaining momentum,
which will help the company to perform better. The stock prices have corrected a lot so can be
considered at lower level.
Bajaj Electricals (Rs.330.00) (Code:500031) :- The Bajaj Group's electrical seg-
ment company's financial performance has been strong for last three-four quarters. In September
quarter, the company's income decreased from Rs1583.30 crore to Rs1070.92 crore and as against
profit of Rs34.08 crore, the company witnessed losses of Rs32.99 crore. As against equity of Rs20.48
crore, the company has huge reserves of Rs1035.37 crore. The company's profitability may in-
crease as the E&P segment projects have been commenced. In lighting and consumer durable
businesses, the volume growth may improve. E&P segment contributes 60-65% in the company's
income. It declared 175% dividend for 2019. It can be invested in 2-3 phases.
Disclosures : At the time of writing this article, author, his clients & dependent family members may have
positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members
may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so
have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources
believed to be true & correct, and also is technical analysis based on & conceived from charts. Investors should take
their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or
responsible for any legal or financial losses made by anybody.
Financial Weekly

INVESTMENT
Di wan-E-Khas A.J. Diwan (Mumbai)

E-mail : divanconsultancy@rediffmail.com
US - CHINA deal eased?

On Friday we have received captioned news. This may help to surge our markets. It may not be
one way trend but with volatility, we may witness up trend.
In this December month market has Shawn up trend but the breath of market was in favor of
bears. On 12.12 first times in this month breath favors bulls. We feel that down side in this market is
limited but up side is also restricted. We witness selling pressure around nifty 120000.we advice to
keep small position in trade. Let market crossed and closed above 12000 nifty for further up trend.
On higher side 12080/121000 levels to watch. On down side level to watch is 11980.
Indian rupee is becoming strong since last few days are good but rise in crude price is very
dangerous. The inflation figure is also on higher side due to vegetables. The hurdle for market is
Assam situation. This should not spread over. The government has to take care about develop-
ment in Ayodhya case.
The market leader Infosys is facing trial in us court for publishing manipulated financial figures.
The share price below rs.700 may bring more selling pressure in scrip. This may further affect other
Tech. shares like Tech Mahindra. Tech Mahindra may be sold around Rs.760 with Rs.5 as s/l. The
target is Rs.745.
If news of US - China is correct, we may see up trend in steel shares. Tata steel has moved up
on Thursday to 418. The position may hold with 410 as s/l. On upper side we may we expect price
of Rs. 425 to 430 in days to come. JSPL also expected to move up to Rs.150/155.the stop loss
should be rs.139.
In banking shares we like ICICI. The buying range is Rs.530.in days to come we expect price of
rs.540/545.bob is another share expected to move up. The s/l should be Rs.95. The target is
Rs.102.4.it seems that Canara bank has take support at Rs. 210, Keep this price as S/l and hold for
the target of Rs.220. Hind lever is looking subdued at this price. L&T finance buy on decline for the
target of Rs.120. The s/l is Rs.110.as per report ICICI Pru. Position is not encouraging. We do not
advise short but if you have in portfolio get rid of.
Bharti air is good short with s/l of rs.445.the down side it may go to rs.433 or so. Yes bank below
Rs. 41 is bad. On higher side resistance is at Rs. 49.
Financial Weekly

INVESTMENT
Investment Ideas telegram.me/rupeegains7
NIFTY :- For next week NIFTY has strong support around 12025 levels. Break will take it to
11980-11925 levels. On the upper side NIFTY will face strong hurdle at 12140-12160 levels, cross
over with volume and close above will create short covering at take NIFTY up to 12225-12250
levels…
BANK NIFTY : - For next week BANK NIFTY has strong support around 31750 levels.
Break will take it to 31600-31500 levels. On the upper side BANK NIFTY will face strong hurdle at
32160 levels, cross over with volume and close above will create short covering at take BANK
NIFTY up to 32350-32500 levels…
INVESTMENT IDEAS… :- Last week, we recommended NELCAST LTD at Rs.47.5.
During the week it zoomed to Rs.54.45 levels and achieved almost 14% appreciation in single
week.
UTTAM SUGAR MILLS LTD (532729 & NSE) (97.75) (Face Value Rs.10) :-
Uttam Sugar Mills Limited (USML), a part of the 'Uttam Group`, is one of the leading integrated
sugarcane processing company, having corporate office at Noida, (U.P.) India. The group's con-
tinuous efforts in the direction of harnessing the full potential of sugarcane, has enabled it to de-
velop most modern sugar complexes in India with facilities to produce Refined Sulphurless Sugar,
White Plantation Sugar, Ethanol and Power. The company operates through three segments: Sugar,
Cogeneration, and Distillery. It also produces ethanol; and generates electricity from bagasse/
biomass. The Company has four sugar units. Out of these four units three sugar units produce
100% "Sulphurless Sugar" using "Defecomelt" process instead of conventional "Double
Sulphitation". This effort would bring the company to the forefront on the Indian Sugar Map and the
vision of serving the country with quality product, meeting international standards. The company
has co-generation facilities in all its four sugar plants. The total power generation capacity in four
plants is 103 MW, out of which 55.5 MW surplus power is exported to National Grid. Uttam Sugar
Mills Ltd has signed Power Purchase Agreement (PPA) with two DISCOMS for exporting surplus
power. The entire power being generated in all the plants is through Bagasse / Biomass, which is
a clean "Zero Carbon Footprint" fuel. It is produces Ethanol at its Barkatpur Plant. This unit has
installed capacity of 75 Kilo Litres per Day (KLPD)
It has an equity base of just Rs.38.14crore that is supported by reserves of around Rs.197.52crore.
The Promoters hold 75% while the investing public holds 25% stake in the company. Out of 25%
Well-known investors Anil Kumar Goel holds 4.75% and Seema Goel holds 2.32% stake in com-
pany. Sugar stocks are looking strong for short term view and this stock has given strong technical
break out on daily chart with volumes which is bullish sign. Everyone, whose financial advisor is
allowing to trade in this stock for short term can watch with stop loss of 90.
SUPER CROP SAFE LTD (530883) (16) (Face Value Rs.2) :- Super Crop Safe
Limited (SUCROSA) is one of the leading players in Agrochemical Industry with presence in more
than 8 states with 2100+ distributors' network. The Company was incorporated in 1987 with the
aim of crop protection. It engaged in manufacturing of various types of agro chemicals like techni-
cal grade pesticides, formulation of insecticides, fungicides and weedicides since inception. At
present, the company supplies more than 100 products in the market under various brand names.
The Company moves towards biological and herbal products which are based on sustainable
Financial Weekly

INVESTMENT
development that balances the need for economic growth with environmental protection and so-
cial equity. The Technical Grade Pesticides manufacturing unit & formulation unit are located at
Himatpura in Bilodra about 65 kms away from Ahmedabad on 20,000 sq. yd. land.
Future plans: "We are planning to build a technical-grade plant in an area of 10,000 square
metres, for which we await permission from the government. We possess the license of 10 techni-
cal-grade, which will boost our production capacity, income, EBITDA, net profits and margins,
once we obtain the permit. The nutraceutical segment is progressing at a considerable pace in
India because people putting immense emphasis on their health. This sector will garner increased
demand and is primed to produce high-margins. Spirulina is being used as a health food by people
in a worldwide scale, and its demand is increasing in India also. We have all the necessary li-
censes for Spirulina, and we are selling it in powder form in the wholesale market. In our R&D
department, we are preparing a basket of products, including Spirulina based health drinks and
other 3-4 products, which will help us in entering this particular segment which will showcase our
growth and take our business to new heights. Currently we are present in 8 states, and we plan to
enter more states by next year." We are also planning to double our distributors in the country. Last
week company has converted 690000 warrants into shares which were allotted to promoters at
Rs.34 per shares. Means promoters bought shares at Rs.34 and stock is available at 53% discount
from promoters' buying cost.
Everyone, whose financial advisor is allowing to trade in this stock for medium to long term can
watch with stop loss of 14.5.
Disclosures: At the time of writing this article, author, his clients & dependent family members may have
positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family
members may make purchases or sale of the securities mentioned in website. Author may have positions in
above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer: Investing in any equity is risky. Our recommendations are based on reliable & authenticated
sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Inves-
tors should take their own decisions. We assume no responsibility for any transactions undertaken by them.
The author won't be liable or responsible for any legal or financial losses made by anybody.
Financial Weekly
Every Sunday Every Wednesday
English & Gujarati Edition Gujarati Edition

Financial Weekly

INVESTMENT
Primary Market - Dilip K. Shah
Sensex and Nifty are heading towards historic high after two weeks of consolidation in Indian share market
Movement witnessed in primary market along with secondary market
Host of mainboard, SME, NCDs and ETF issues are in the market
Ujjivan IPO got listed with 57% premiums: Retailers hit jackpot, while HNI witnessed losses
Saudi Aramco got listed with 10% premiums: Market cap crosses 2 lakh crore
Bharat Bond ETF OFS that opened on December 12 will close on December 20
Prince Pipe issue with price band of Rs177 to 178 enters the market
DC infotech's issue with fixed price of Rs 45 gets 0.39 times subscription on day 2
L&T Fin's Rs5000 crore NCDs issue opening on Dec. 16 will witness fancy from beginning
Smart Investment's predictions about allotment and listing in Ujjivan Finance get 100% true
Prince Pipe IPO: Fundamentals are strong and issue prices are reasonable
DC Infotech is asking for Rs45 for empty box
Bharat Bond ETF will give more returns than Corporate FD
Muthoot Fin's issue may get close ahead of schedule with 7.29 times subscription
EaseMyTrip, Rossari Biotech approache SEBI: Park Hotels and IndiGO Paints set for IPO
As SEBI ban lapsed on October 31, IPO may start on NSE
After witnessing consolidation for two weeks, Sensex and Nifty are all set for making new
historic highs. The hustle-bustle in the secondary market has also yielded positive results
for the primary market as it is witnessing IPOs in all categories.
* Last week's listing:-
Ujjivan Small Finance Bank (542904) :- The issue with offer price of Rs37 got listed on
December 12 with 57% premiums at Rs58 and went up to Rs62.80 and down to Rs53.10
before closing at Rs55.90. On December 13 it came down a bit to Rs55.05.
It should be noted that Smart Investment had predicted that listing may be around Rs60
and book 50% profit. The stock prices are coming down after listing. So both predictions
Subscription figure of turned out 100% true.

Muthoot Finance It should be noted that Ujjivan IPO got 166 times sub-
Category No. of Bond Issue
Offered/ Subscribed scription, i.e. bid worth Rs76000 crore. This is the highest
Reserved 13-12-19
Category I 1,00,000 7.77x
ever subscription after January 2018.
Category II 1,00,000 1.87x Interestingly, the retailers hit the jackpot but HNIs had to
Category III 3,00,000 10.36x
Category IV 5,00,000 6.42x
Total (Base Issue) 10,00,000 7.29x Cont...
Financial Weekly

INVESTMENT
Main - line IPO (Non SME)

Sr Company Issue Open Dt. Issue size Offer price Min. Rs. 1,00,00 Rs. 2,00,000 Listing Lead Rating Remark
Issue Close Dt. (Rs. Cr.) (Rs.) App. Limit Limit Manager (Out of 50)
1 Prince Pipes 18-12-2019 Fresh Issue : Rs. 250 Cr. 177 to 178 84 Shares 504 Shares 1092 Shares BSE Edelweiss, 38%
and Fittings 20-12-2019 OFS : Rs. 250 Cr. (Rs. 14952) (Rs. 89712) (Rs. 194376) NSE J M Fin. Apply Mid to
(Book Building) Total Size : Rs. 500 Cr. Long Term
2 SBI Cards 20-1-2019 Fresh Issue : Rs. 500 Cr. 615 to 618 -- -- -- BSE Axis Cap.,
& Payment 22-1-2019 OFS : 13,05,26,798 (Likely) -- -- -- NSE BoA Merill, NEXT
(Book Building) (Tentative) Eq. Shares HSBC Sec., WEEK
Kotak Mah.
bear losses as their interest cost of Grey Markets Premium

IPOs Offer Price Premium Kostak Price Subject to
Rs28 were higher than the premiums of
Name (Rs.) (Rs.) *Min. Appl. Sauda
Rs19 in this category. The HNIs were Prince Pipe 177 to 178 20 to 25 --
& Fittings
expecting the share prices to open with SBI Cards -- 255 to 260 3400-3500 --
premiums of Rs30. (H : 275) (H : 3500)
(L : 198) (L : 1200)
CSB fancy fizzles out : The issue Don't subscribe IPO only on the basis of Grey premium.
Before Investing check the fundamentals of IPO
got listed with 54% premiums at Rs275
and went up to Rs314.20. But the prices Prince Pipes
have been on downward movement for and Fittings
Issue Opens
consecutive six sessions after than at on 18th Dec.
Rs223 on Thursday. Smart Investment &
Closes on 20th Dec.
had predicted to book profit at listing.
Prince Pipes & Fittings
Saudi Aramco :- It got listed at 32 riyals and went up to 35.2 Retailers may apply
riyals taking the market cap to 1.88 trillion dollar. Thus making it Shares Amt. Shares Amt.
84 14952 588 104664
the most valuable company leaving behind Apple and Microsoft. 168 29904 672 119616
252 44856 756 134568
On the first day of listing, the company announced cheaper 336 59808 840 149520
420 74760 924 164472
loan and bonus shares to the domestic investors. Moreover, the 504 89712 1008 179424
1092 194376
company has also announced to pay dividend of 75 billion dollar
till 2024 to all the share holders who will hold the stock. The
Allotment & Listing Process
Prince Pipes
Listing Information of bonus share cap is 100 shares. So those Issue Closes 20-12-19
Finalization of Basis of Allot. 26-12-19
Ujjivan Small Fin. Bank Initiation of Refunds 27-12-19
BSE Code 542904 who haven't got allotment are buying Credit of Equity Shares30-12-19
Listing Date 12-12-2019 Listing 31-12-19
from the market. Market cap has
Offer Price Rs. 37.00
Listing Price Rs. 58.00 crossed 2 lakh dollar level.
Listing Day High Rs. 62.80
Listing Day Low Rs. 53.10 * Last week's issues:-
Listing Day Close Rs. 55.90
CMP (Rs.13-12-19) Rs. 52.05 • Muthoot Finance :- The NCDs issue with base price of Rs100
Financial Weekly

INVESTMENT
NSE SME IPO

Sr Company Open Dt. Issue size Offer price Minimum Lead Rating Remark
Close Dt. (Rs. Cr.) (Rs.) Applications Size Manager (Out of 50%) %
1. DC Infotech 12-12-2019 24,00,000 Eq. 45 3000 Eq. Shares FEDEX RISKY
33%
& Comm. 18-12-2019 (Rs. 10.80 Cr.) (Rs. 1,35,000) Securities (AVOID)
crore and shelf limit of Rs790 crore has Subscription Figures of SME IPO (Dt. 13-12-19)
IPO Listing Day Subscribed
got 7.29 times just short of Rs60 crore DC Infotech & Comm. NSE SME 2 nd Day Subscribed 0.39x
from achieving the target. So it may close ahead of schedule date of December 24.
New issues of this week :- Prince Pipes and Fittings:- The Mumbai-based company's
promoters have experience of three decades. It plans to raise Rs500 crore through offering
shares in price range of Rs177 to 178. It will be Rs250 crore fresh equity and rest OFS. The
financial performance is strong and portfolio is well diversified. It is good option for medium
to long term investment.
• DC Infotech :- The issue with offer price of Rs45 to raise
World best 5 Listed Co.
Co. Name M. Cap. Rs10.80 crore opened on December 12 and it got 0.39 times sub-
Saudi Aramco 142 Lakh Cr.
Apple 84.49 Lakh Cr. scription on second day. The promoters' cost per share is zero so
Microsoft 81.65 Lakh Cr.
Alphabet 65.82 Lakh Cr.
it's empty box for the investors. The financial performance in June
Amazone 61.55 Lakh Cr. quarter of 2019 is also suspicious. The issue is highly risky and
COMING SOON may not give good returns in future.

Issue Issue Size * L&T Finance NCDs issue :- The issue with AAA rating offer
(Rs. Cr.)
HDB 8000 higher coupon rate and it has backing of the parent company so it
Berger King 1000
can be considered for medium to long term considering your bud-
SBI 8000
UTI AMC 1200 get.
Railtel 300
Reliance Retail * Insight into upcoming issues:-
PNB Metlife 2800
Ease My Trip :- It plans Rs700 crore IPO for which it will file
Bajaj Energy 5450
Balance Sheet of Last 10 Years DRHP this week.

Year Number Got the MoneyPositive Negative
IPOs
(Rs. Cr.) Return Return Rossari Biotech :- Mumbai-based specialty chemical
2010 66 36362.18 64 2
2011 40 5977.47 37 3 company will file DRHP with SEBI in the current week for
2012 13 6834.17 11 2
2013 5 1283.95 3 2 Rs700 crore IPO.
2014 7 1200.94 5 2
2015 21 13513.17 21 0
Park Hotels :- Apeejay Surrendra Group will file docu-
2016 27 26500.82 26 1 ments for Rs1000 crore IPO by end of this month. Pro-
2017 38 75278.57 38 0
2018 25 31731.28 24 1 moters hold 90% stake in the company. It will divest 20%
2019* 15 12187.32 15 0
Financial Weekly

INVESTMENT
Non Convertible Debenture (NCD) Issues at a Glance

Sr Company Issue Open Bond size F.Value Min. Listing Rating Recomm.
Issue Close (Rs. Cr.) (Rs.) App.
29-11-2019 Base Size of Rs.100 Cr. 1,000/- 10 NCDs BSE ICRA AA/Stable
1. Muthoot 24-12-2019 Withoversubscription (Rs.10,000) CRISIL AA/Stable APPLY
Finance up to Rs. 690 Cr. Lead manager : FOR
(Tranche IV) (aggregating to A. K. Capital LONG TERM
(Rs. 790 Cr.) Edelweiss
16-12-2019 Base Size of Rs.500 Cr. 1,000/- 10 NCDs BSE CRISIL AAA/Stable
2. L&T 30-12-2019 Withoversubscription (Rs.10,000) NSE CARE AAA/Stable
ATTRACTIVE
Finance up to Rs. 1000 Cr. Lead manager : A.K. Capital IND AAA/Stable Subscribe
(Tranche I) (aggregating to Edelweiss, J.M. Fin.,
(Rs. 1500 Cr.) Trust Investment Adv.
stake.
Bharat Bond ETF
Indigo Paints :- It may enter into the Bharat Bond ETF :- The issue has opened on De-
market in June-July with 1000 crore IPO. cember 12 and will close on December 20. It offer higher
returns than corporate FD. As per reports, 12 PSUs
NSE :- The Market regulator had including Nabard, HUDCO, NHAI, PFC, REC, MRPL,
banned the company for entering into the Gail, PGCIL and IRFC will get credit through ETF.
Recommendation : in OFS, anchor issue has got
market for 6 months, which has ended on 1.7 times subscription. It offers post tax returns of 6.31%
for three years and 6.99% for 10 years, which is higher
October 31, so it has started process of than corporate FD.
IPO. Bharat Bond ETF will invest in public sector compa-
nies with AAA ratings. It proposes to raise Rs3000 crore
including green shoe option of Rs2000 crore for 3 years
and Rs4000 crore for 10 years.
GREY MARKET MOVEMENT

The movement has gone slower after Ujjivan Finance IPO
High volatility in SBI Cards premiums and application rates
Premiums go down in Prince Pipe due to lack of deal: Movement may increase in near future
In unlisted market valuation of HDB Fin is paged at Rs90,000 crore, so prices witnessed a spurt
The grey market was highly active due to Ujjivan Small Finance Bank IPO last week. But now
the movement has got slower. Though, SBI Cards IPO is till one month away, the premiums and
application rates have become volatile. Same is the case with HDB Fin Service IPO, which may
enter the market in April 2020. There is no volume in Price Pipes IPO, which will open on Decem-
ber 18.
SBI Cards :- During last week, the IPO premiums went up to Rs275 and came down to Rs235-
240, but now it has again went up to Rs255-260. Minimum application rates are Rs3500. It will be
highly volatile in coming days.
Price Pipes & Fittings :- The premiums started at Rs30-35 on Thursday and went up to Rs80-
82, but it has come down to Rs20-25 in absence of new buying. Interest rates and subject to rates
haven't been declared yet. It may witness movement next week.
HDB Fin Services :- It is likely to do Ujjivan Small Fin Bank IPO. As a result, people are
buying shares of HDFC, the promoter of the company. As per reports, the valuation of HDB Fin is
paged at Rs90,000 crore in unlisted market. The stock prices are Rs500 to 700 last year, which
has become Rs1100 to 1200 and may go up in future.
Financial Weekly

INVESTMENT
Prince Pipes and Fittings

Issue Opens on 18th Dec. & Closes on 20th Dec.
Price Band Rs. 177 to 178 ; Listing on NSE - BSE Platform
Considering strong fundamentals & reasonable valuations
Investor may apply for mid to long term in this issue
Incorporated in 1987, Mumbai based Prince Pipes and Fittings Limited is engaged in manufac-
turing of polymer pipes and fittings. The company produces four types of polymer pipes including
CPVC, UPVC, HDPE, PPR and three different polymer fitting types CPVC, PPR, and UPVC. It is
operating in the polymer pipe segment under two brand names; which are Trubore and Prince
Piping Systems. The company has a corporate office in Mumbai and a strong presence across
North, South and West India.
Prince Pipes provides an end to end solutions across a wide product range (7,480 SKUs as on
30th June 2018). It has 5 manufacturing units located at Haridwar (Uttarakhand), Athal (Dadra and
Nagar Haveli), Dadra (Dadra and Nagar Haveli), Kolhapur (Maharashtra) and Chennai (Tamil
Nadu). Besides, two contract manufacturing units are located at Hajipur (Bihar) and Aurangabad
(Maharashtra).
The company is also planning to open two manufacturing units at Jobner (Rajasthan) and
Sangareddy (Telangana). Prince Pipes and Fittings Ltd has 10 warehouses to store the products.
The company sells the products under Prince Piping Systems brand name to 843 distributors which
further sell them to wholesalers, retailers and plumbers. The products under Trubore are directly
sold to 212 wholesalers and retailers.
Issue Details
• Issue Opened on 18th December & Closes on 20th December, 2019
• Object of the issue : (1) Repayment or prepayment of Outstanding Loans. (2) Establishment of a
new Manufacturing Facilities.
• Issue Size : 2,80,89,886 Eq. Shares - Rs. 500 Cr.
Fresh : 1,40,44,943 Shares - Rs. 250 Cr.
OFS : 1,40,44,943 Shares - Rs. 250 Cr.
• Face Value : Rs. 10, Total Rs. 10.80 Cr.
• Offer price : Rs. 177 to 178 Per Share
• Minimum Lot : 84 Shares Shares • Listing : BSE NSE Platform
• BRLM’s : Edelweiss Capital Ltd., J.M. Fin.
• Registrar : Link Intime India Pvt. Ltd.
• Management : Jayant Shamji Chheda, Tarla Jayant Chheda, Parag Jayant Chheda, Vipul Jayant
Chheda and Heena Parag Chheda
Cont....
Financial Weekly

INVESTMENT
Financial Performance Consolidated Basis

Particulars (Rs. Cr.) FY 16 FY 17 FY 18 FY-19 FY20 Q1
Total Revenue 1081.62 1332.50 1326.57 1578.99 380.19
Profit After Tax 29.53 74.18 72.77 83.35 26.67
EPS 3.18 7.85 8.08 9.26 2.96
RONW (%) -- 31.47 23.52 21.18 6.34
• Pre Issue Promoter Holding : 90.06%

• Post Issue Promoter Holding : --
• Average 3 Years EPS Rs. 8.63 & RONW : 23.68%
• Pre IPO : P/BV Ratio 3.81 (NAV : 46.70)
• Post Issue : P/BV Ratio 2.52 (NAV : 70.58)
• Pre IPO P/E Ratio : 19.22
• Post IPO asking P/E on Fully diluted equity : --
• Insutry Peer Group PE Ratio : 38.89
• BRLM’s performance : This is 28th issue from BRLM in last 3 Years. : In Last 27 Listing : 22 Issue
Opened with Premium & 5 Issue with at Par.
Other side of Coins

" The average cost of acquisition of equity shares to the promoter is Rs. 0.10 to Rs. 11.86 & offer
price Rs. 177 to 178
" It has issued bonus shares in the ratio of 2:1 (June 2002), 1:1 (Dec. 2005), 1:1 (March 2009), 1:1
(March 2013), 1:1 (March 2014) & 1:1 (March 2017)
" It's a highly competitive business
" Company import 30% raw materials, hence depreciation of rupee would adversely affect.
• Promoters have pledge certain equity shares in relation to bonds issue.
• High working capital required
• Company is not relisted own of corporate office & warehouses are on lease
• It had negative cash flow in the past
• Some group companies have increase losses in the past three year.
Recommendation : Looking to the company a pan - India network of distributors, multi - loca-
tion manufacture units, strong brand name, expansion plan and considering reasonable valuation
with sound fundamentals investors may apply for mid to long term in this issue.
***
Financial Weekly

INVESTMENT
DC Infotech and Communication Ltd. NSE SME IPO

Issue Opened on 12th Dec. & Closes on 18th Dec. ; Offer Price Rs. 45
Company valuation seems reasonable but considering low margin business model
Inconsistency in top lines, margins & RONW
Unlikely to sustain Net profit Q1 FY 20
Luck of fancy in investor may keep from this risky IPOs
Overall company is offering "Khali Khokha" at a price of Rs. 45
Incorporated in 1998, Mumbai based DC InfoTech Ltd is engaged in reselling and distribution business of
computers, and computer peripherals. The company operates on a broad-based distribution model where it
deals with multiple brand strategy and different products. DC InfoTech supplies IT products such as network-
ing, security, firewall's, desktop virtualizanion, broadband, surveillance, wireless, digital signage, power solu-
tions and others like cloud security, digital performance, network performance, and enterprise security.
DC InfoTech is an IT Solution distribution house in India. Currently, it has 1600 dealers across the country
offering a wide range of hardware and software IT products. The company works as a middle man between
users & resellers and IT manufacturers/ developers. The company also provides demand generation, after-
sale support, logistics services as well. It has 2 offices located in Maharashtra and 8 Warehouses across
different states in India.
Financial Performance Consolidated Basis
Issue Details Particulars (Rs. Cr.) FY 17 FY 18 FY-19 FY20 Q1
• Issue Opened on 12th December & Closes on 18th Total Revenue 108.79 97.56 114.07 36.49
December, 2019 Profit After Tax 0.90 1.30 1.34 0.91
• Object of the issue : Working Capital Requirment.
EPS 2.51 3.61 3.72 2.51
• Issue Size : 24,00,000 Eq. Shares
RONW (%) 8.33 11.27 8.56 17.61
• Face Value : Rs. 10, Total Rs. 10.80 Cr.
• Offer price : Rs. 45 Per Share Originally it was partnership firm and converted in to lim-
• Minimum Lot : 3000 Shares Shares ited company from 19-2-2019 to 31-3-2019 and also reduced
• Listing : NSE SME Platform equity capital from Rs. 11.41 Cr. to Rs. 3.60 Cr.
• BRLM’s : Fedex Securities Ltd. • Market Maker : Rikhav Sec. Ltd.

• Registrar : Satelite Corporate Ser. Pvt. Ltd. • Management : Chetankumar Timbadia and Devendra Sayani.
• Pre Issue Promoter Holding : 100% • Post Issue Promoter Holding : 60%
• Issue Constitutes 40% of the post issue paid up capital • Average 3 Years EPS Rs. 3.48 & RONW : 9.42%
• Pre IPO Equity capital Rs. 3.60 Cr. • Post IPO Equity Capital Rs. 6 Cr.
• Pre IPO : P/BV Ratio 3.15 (NAV : 14.28) 30-6-2019 • Post Issue : P/BV Ratio 1.02 (NAV : 44.08)
• Post IPO asking P/E on Fully diluted equity : 7.6 • Insutry Peer Group PE Ratio : 18.59
• BRLM’s performance : This is 10th issue from BRLM in last 3 Years. : In Last 9 Listing : 7 Issue Opened with
Premium, 1 Issue in Discount & One Issue at Par.
Other side of Coins

• The average cost of acquisition of equity shares to the promoter is NIL hence company is offering Khali
Khokha at Rs. 45
• It has been converted in to limited company from partnership firm on 19th Feb. 2019
• Its high volume low margin business
• There are number of outstanding litigation investing company, promoters and promoter group.
• Registered office, warehouses and offices are not own by the company
• Company is mainly depended on import product where foreign currency fluctuation risk is there.
• A top-10 supplier contributes 82.73% of purchases.
• It has experienced negative cash flow in the past.
Note : Company's offer price is reasonable but considering in consistency in top lines and
RONW for last four fiscal, low margins business model & sudden jump in the bottom line of Q1 of
FY20 which unlikely to sustain in near term. Investors may kep away from this risky issue.
Financial Weekly

INVESTMENT
L & T Finance (Tranche-I) NCD

Opens on Dec. 16 & Closes on Dec. 30, 2019
Base Issue Rs. 500 Cr. & Shelf Issue Size Rs. 5000 Cr.
Considering strong percentage, Attractive ratings &
Higher returns, investors apply blindly in this NCD issue
L&T Financial Ltd is a non-banking financial service company. It is a part of L&T group which
started financial services business in 1994. L&T Financial Ltd works in the three main segments
which are wholesale, rural and housing.
In rural business, it provides microloans, two-wheeler financing facility and farm equipment fi-
nancing services. As on 31st Dec 2018, the advances and adjusted loans were Rs 24,122.27 cr in
rural business.
In the wholesale business, the company offers structured corporate finance and infrastructure
finance. Previously the company was providing supply chain business but it was transferred to
Centrum Financial Services Ltd. Now, the company only provides some portfolio maintenance
activities in supply chain finance to Centrum.
In the housing business, it provides loans against real estate and property finance. The com-
pany has a PAN India presence with 223 branches across 21 states and 3 UTs.
The strengths of the Co. :- 1. Diversified businesses 2. Strong loan procedures 3. Strong risk
management framework 4. Brand recognition
Issue Details
Frequency Annual Cumulative Monthly Annual Monthly Annual
Tenor 36 36 36 60 60 84
(In Months)
Coupon (%) 8.45 NA 8.15 8.6 8.29 8.65
Amt. on 1000 1275.81 1000 1000 1000 1000
Maturity (Rs.)
Credit Ratings : CRISIL AAA/Stable, CARE AAA/Stable, IND AAA/Stable

Recommendation : - Considering AAA ratings, strong percentage and higher returns in com-
parison of bank fixed deposits. It's very attractive issue. Investors may apply blindly in this NCDs
Issue.
Financial Weekly

INVESTMENT
Smart Best Buy S. N. Zaveri
Bosch : The Boss in Automotive Technology

L&T up on securing order from RVNL
BEML : Metro orders and Disinvestment will drive the growth
M&M Financial Services : Cabinet decision will benefit
Godrej Consumer : Household insecticides category will push growh
Bosch (Rs. 15191.00) (Code : 500530) :- Germany-based Robert Bosch Company

(Bosch Group) owns 70.54% stake in Bosch, a supplier of technology and services of mobility
solutions (automotive), consumer goods, energy and building technology.The mobility business
accounted for 85% and the other business the balance 15% of the revenues in the fiscal year
ended March 2019 (FY 2019). Exports accounted for roughly 7-8% of the revenues. The powertrain
systems division offers an extensive range of energy efficient, eco-friendly fuel injection systems
for applications ranging from passenger cars and all kinds of commercial vehicles and agricultural
equipment to large-scale industrial power-generation units. The automotive after-market division
is the largest independent after-market network in India. The product portfolio consists fuel injec-
tion equipment and spares, spark plugs, braking parts and filters as well as products and services
such as battery, starter generators, lubricants, comfort electronics, wiper blades and lubricant de-
veloped and manufactured by other manufacturers. Its EPS is expected to be Rs 372.6 for FY2020
and Rs 486.8 for FY 2021. The scrip was trading around Rs 15214 on 9 December 2019. Buy.
L&T (Rs. 1305.00) (Code : 500510) : Larsen & Toubro gained last week after L&T
Construction secured an order from Rail Vikas Nigam (RVNL) for the construction of Rishikesh-
Karanprayag tunnel. The heavy civil infrastructure business of L&T Construction has secured an
order from Rail Vikas Nigam (RVNL) for the construction of Rishikesh - Karanprayag Tunnel 2
package works comprising tunnels, bridges and formation works in Uttarakhand.The project con-
sists of the main tunnel with parallel escape tunnel and ballast-less track that runs inside the main
tunnel. This is a fast track project to be completed within stringent timelines.The order falls under
"Significant" category which ranges between Rs 1,000 crore and Rs 2,500 crore as per its classi-
fication of contracts. L&T's consolidated net profit jumped 25.9% to Rs 2,527.26 crore on 15.2%
rise in net sales to Rs 35,328.45 crore in Q2 September 2019 over Q2 September 2018. The stock
looks attractive at current price. Buy.
BEML (Rs. 991.00) (Code : 500048) :- Public sector major BEML remains in the
news on account of the government’s decision on strategic disinvestment of its stake in the com-
pany, which could mean some value unlocking for investors. Analysts say that while the divest-
ment theme could be played out, the company’s business prospects themselves make BEML a
good investment. BEML is targeting revenue of Rs.4,200 crore in the current fiscal, implying growth
of about 20%. That will be a notable acceleration from the previous fiscal when revenue growth
was a sombre 5%.The company is benefiting from the ongoing push to public transport, especially
metro rail services across the country. Revenues in the current fiscal will be driven by execution of
the metro-related orders, which constitutes more than half of the current order backlog of Rs. 8,917
crore. BEML expects to end the current fiscal with an order book of Rs.10,000 crore. Buy.
Cont...
Financial Weekly

INVESTMENT
M&M Financial Services (Rs. 341.00) (Code : 532720) :- The cabinet on
December 11 extended the partial credit guarantee scheme for public sector banks (PSBs) to pur-
chase high-rated pooled assets from non-banking financial companies (NBFCs) and housing fi-
nance companies (HFCs).The state-owned banks can now purchase high-rated pooled assets
from financially sound NBFCs and HFCs, with the amount of overall guarantee provided by the
government till the first loss of up to 10 percent of fair value of assets being purchased by banks or
Rs 10,000 crore, whichever is lower. It will benefit M&M Financial Services. Good monsoon and
increased government spending like PM Kisan Transfers should result in increased rural income
and this should help companies with high rural focus like M&M Fin. Improvement in its asset qual
ity is another factor attracting analysts to this counter. Unlike other quality NBFCs, M&M Fin is still
trading at reasonable valuations (PB ratio of 1.8 times and PE of 19.81 times). The counter may get
re-rated once the expected improvement in business and profitability happens. Accumulate.
Godrej Consumer Products (Rs. 674.00) (Code : 532424) :- Increased
temperature and excessive rains have led to a rise in dengue cases in India, which, along with the
receding threat of illegal incense sticks, will help the household insecticides (HI) category post
good growth in Q3FY2020 as against Q2 and Q1. Volume growth in the soaps category is likely to
sustain, driven by consumer offers. The international business is expected to perform well, driven
by good growth in Indonesia, whereas margin expansion is expected to sustain in Africa due to
cost-saving programmes. The current valuation of 33.6x FY2021 earnings and 28.7x FY2022 earn-
ings is reasonable compared with sector P/E. Buy.
(SEBI Registered Research Analyst)

* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month • All stocks rates / indices on
13th December , 2019 unless specified o Stoploos is useful for Short - Medium term investors only
* Disclaimer :- • Smart Investment will not be responsible / for any loss arising out of investment based on its recommendation. • Though,
every care has been taken, we will not responsible for any errors / omissions o All disputes are subject to Ahmedabad jurisdictioner
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Financial Weekly

INVESTMENT
Dalal Street Whispers Dilip K. Shah
BGR Energy (Rs. 35.50) (Code: 532930) :- The company has bagged an order of
Rs. 4442 crores from Tamil Nadu Generation and Distribution Corporation for a 660 MW thermal
power plant.
Hikal (Rs. 108.00) (Code: 524735) :- The company has received EIR from US FDA for
its manufacturing plant at Panoli in Bharuch.
BoB (Rs. 101.00) (Code: 532134) :- Bank of Baroda has signed a binding share
purchase agreement with ANSA Merchant Bank to sell its Caribbean subsidiary.
Tata Motors (Rs. 176.00) (Code: 500570) :- The victory of Boris Johnson's party in
the UK elections have paved the way for BREXIT. Shares of Tata Motors shot up on the back of
this news. Its subsidiary JLR has a plant in UK.
DLF (Rs. 228.00) (Code: 532868) :- DLF stock gained after Jefferies' Christopher
Wood in his Greed and Fear report has said that he will introduce investment in the stock with a 5%
weightage.
Navin Fluorine (Rs. 937.00) (Code: 532504) :- This commodity chemicals com-
pany has announced investment of Rs. 450 crores for setting up a new plant in Dahej.
Reliance Industries (Rs. 1582.00) (Code: 500325) :- According to broking house
CLSA, the stock is trading near the bottom range of its PE and PEG. It has given a 'Buy' rating on
the stock with a target price of Rs. 2,000.
Indigo (Rs. 1318.00) (Code: 539448) :- Domestic passenger traffic grew by 11.18%
in November. However, Indigo carried 47.4% more passengers, while Spicejet reported 16.3%
increase. The two stocks are set for a big flight.
BPCL (Rs. 496.00) (Code: 500547) :- The shares of this OMC are in the focus after
their being upgraded by rating agencies. Crisil and Care have given AAA rating for its long-term
NCDs.
Dish TV (Rs. 13.00) (Code: 532839) :- The shares are in focus on reports that its DTH
operations will be merged with Airtel.
Prakash Industries (Rs. 41.00) (Code: 506022) :- This ferrous alloys producer
has emerged as the highest bidder for Bhaskarpara coal-mines in Chhattisgarh.
Titagarh Wagons (Rs. 46.00) (Code: 532966) :- Railway related shares are ex-
pected to outperform in the run up to the Union and Railway Budget on February 1. The govern-
ment has invited bids for 450 trains. The company's order book stands at Rs. 5,200 crores at present.
The book value of the share is Rs. 94.
India Glycol (Rs. 215.00) (Code: 500201) :- There is a strong likelihood of the
government levying anti-dumping duty on glycol imported from Singapore and Dubai.
HBL Power (Rs. 15.80) (Code: 517271) :- The Cabinet is set to announce incentive
of 5 to 7% to manufacturers of electrical products in a bid to boost Make in India and exports. HBL
Power is expected to benefit from the scheme.
Hero Moto (Rs. 2336.00) (Code: 500182) :- The company has announced an across
the board hike of Rs. 2,000 in vehicle prices. It is also seen benefiting from the recovery in automo-
bile demand and launch of new products.
Motherson Sumi (Rs. 140.00) (Code: 517334) :- The company is benefiting from
the jump in Euro and Pound. Recovery in automobile demand will boost its performance.Cont.....
Financial Weekly

INVESTMENT
Maruti (Rs. 7221.00) (Code: 532500) :- Maruti Suzuki has raised its vehicle produc-
tion target for the current financial year in what is seen as a sign that there are green shoots of
improved demand. It is also likely to report good numbers for Q3.
Munjal Auto (Rs. 44.00) (Code: 520059) :- There are signs of recovery in the auto-
mobile segment. Moreover, Munjal Auto is expected to announce decent numbers for the third
quarter.
L&T Finance (Rs. 116.00) (Code: 533519) :- The company's NCD issue of Rs.
5,000 crores is slated to open on December 16. The issue has been rated AAA, and is expected to
get very good response.
Adani Ports (Rs. 377.00) (Code: 532921) :- Morgan Stanley has given a 'Buy' rating
on Adani Ports with a target price of Rs. 425.
Godrej Properties (Rs. 919.00) (Code: 533150) :- Recovery is being seen in
some realty stocks. Movement can be seen in the stock as the company has launched four new
projects in Mumbai Region and Bangalore.
Dabur India (Rs. 460.00) (Code: 500096) : Analysts see the current price level as a
'Buy' opportunity. The company is beating its competitors in product volumes and outperforming
across segments. Attraction can be seen in the stock in view of stable margin outlook and rising
opportunities in overseas operations.
Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may
have investment in this stocks • I/My family have no financial interest or beneficial interest of more than 1% in the company whose stocks I am
recommending • Stop loss is useful for Short / Medium Term investor Only • Smart Investment will not be responsible / liable for any loss arising
out of investment based on tis advices • Past performance may or may not be substainedin future " (Dilip K. Shah) Research Analyst : SEBI
Regn No. : INH000002152
Think about NIFTY FUTURE ?

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Financial Weekly

INVESTMENT
Investor’s Third Eye

Smt. Dr. Hemavathy / Padmanaban (Chennai)
E-mail : investorsthirdeye@gmail.com
Gold Mania
Astrological Predictions for Gold Price Movements
(From 16th December 2019 to 20th December 2019)
On 5th November 2015, Honourable Prime Minister, Shri Narendra Modi, launched "Swarna
Bharat" (Golden India), formally called "Gold Monetization Scheme (GMS)" for mobilizing gold
held by households and institutions in the country in order to put this gold into productive use. Gold
is an icon of opulence and appeals uniformly to youths and older generations across social sec-
tions within the country. In the FY 2019, India has imported gold worth of nearly Rs. 2.3 trillion. In
India, the consumption demand for gold is greater than Investment demand for gold. Massive gold
demand for gold leads to deterioration in current account deficit, which would reduce the foreign
exchange reserves and could become a drag on the external debt, putting pressure on the balance
of payments management. There exist necessitate for maintaining adequate foreign exchange
reserves buffer in India. There is the need to launch an effective Bullion banking system in India.
Bullion banking offers gold financing services and sales and bullion trading services to its custom-
ers. Bullion banking acts the best platform for the undertaking the gold monetization scheme in
more effective manner.
16th and 17th December 2019 :- The conjunction of the planet of wealth Jupiter takes
its position along with Saturn, ketu and Venus in Sagittarius may which may slightly reduce the
gold price to certain extend. But still Moon in its own house - Cancer may favour the bullion market
making the buyers to procure more gold.
18th Deecember 2019 :- This day favors the bullion market as the Moon takes its posi-
tion in the house of Sun- Leo which takes its ninth position towards Jupiter in Sagittarius
19th December 2019 :- The speculative planet Rahu in Gemini and Mars in Libra may
bring a slight decline in the the gold price
20th December 2019 :- Sun transit to Sagittarius along with the planet of wealth favours
the gold price movements to certain extent
In the FY 2019, India has imported gold worth of nearly Rs. 2.3 trillion. Massive gold
demand leads to deterioration in current account deficit, which would reduce the for-
eign exchange reserves and could become a drag on the external debt, putting pres-
sure on the balance of payments management. There exist necessitate for maintaining
adequate foreign exchange reserves buffer in India.
Cont....
Financial Weekly

INVESTMENT
In this week, Jupiter takes its position in Sagittarius with Venus, Sat-
urn and Ketu. Sun in Scorpio. On 17th December 2019, Sun transit hap-
pens to Sagittarius, Mercury in Scorpio – the house of Mars, Mars in
Libra, the speculative planet Rahu remains in Gemini. Moon takes its
position in Cancer, Leo and Virgo houses.
16th December : Mars in the house of Venus – Libra and Venus had taken
its position along with Jupiter in Sagittarius. This planetary position favors chemi-
cals, fertilizers, pharmaceuticals, health sector. Deepak Nirate, Berger paints,
Dixon, Torrent Pharma, J B Chemicals, Himadri Spec may shine
17th December : On this day, Sun transit happens from Scorpio to Sagit-
tarius, the conjunction of five planets namely Jupiter, Saturn, Sun, Venus and
Ketu may bring volatility in stock prices especially infrastructure based sector,
cement, Iron and steel, entertainment sector, banking sector coal and oil may
remain gloomy. MRPL, IRCTC, Rites, India Grid Trust, Patel Engineering, Tayo
Roll may show good movement in stock prices.
18th December: On this day moon in Leo which is the fifth house towards
Sagittarius where the lord of Leo- Sun takes its position favors the market to
certain extend. Solar power, chemicals, automobile sector, heavy engineering
, pharmaceuticals may show good movement in stock prices. IRCTC, Polycab,
Tata motors, Camlin Fine, Nirlon, Dhunseri Industries, On mobile Global may
outperform.
19th December and 20th December: The speculative planet Rahu in Gemini
and the conjunction of five planets Jupiter, Saturn, Ketu, Sun and Venus in
Sagittarius taking its seventh position bring volatility in the market to certain
extend. Wimplast, Future Retail, Thyocare, Pidlite, Linde India, APL Apollo,
Hindlaco, Nirlon. Sangam India, Biocon, Balkrishna Industries may shine.
Warren Buffet quotes that “Never lose money. Stay rational and stick
to your homework when researching businesses in which to invest” acts
as the golden rule for this week.
Financial Weekly

INVESTMENT
Senior Astrologer
Dharmesh Joshi
Mob. : 9909941816
E-mail :
stockmarket@ganeshaspeaks.com
Sensex Predictions : Dt. 16th Dec. 2019 to 20th Dec. 2019
" Please consider 10 minutes plus and minus in each prediction, and act accordingly. " Ganesha
advises you to compare every prediction with the prediction of the previous time slot.
16-12-2019 Monday
" Today the market will be more fluid.
" Overall the market will keep its hold till 11 am.
" There will be profit booking in Nifty between 11 to 12.45.
" Nifty will remain up between 12.45 to 13.45.
" From 13.45, the market will move towards the lower surface.
17-12-2019 Tuesday
" Sun, the ruler of the planets, will continue to be in conjunction with negative planets like Saturn
and Ketu for a month. This will increase the possibility of negative changes in political, eco-
nomic and environmental areas.
" The opening and closing of the market today and for the next 2 days will be very tremendous i.e.
15 minutes of opening can be very positive and 15 minutes of closing can be very negative.
" The market will trade around the psychological figure from opening to 10.55.
" From 10.55 to 13.55, Nifty will go down step by step and afterwards it will again go up step by
step.
" Do not trust the market after 13.55 because after you are done jobbing, it will suddenly go down.
18-12-2019 Wednesday
" Sell Nifty around 10.44 and exit around 11.44.
" Buy Nifty around 12.12 and leave around 13.13.
" This is the capacity and if you want to take risk, then short it around 15.05 and keep a limit of Rs
5 in the down. This is the time to work with Stop Loss.
19-12-2019 Thursday
" There will be movement in both bank Nifty and Nifty
" During the first 30 minutes, the market will be up.
" 09.45 to 10.45 is the upside boring time.
" 10.45 to 12.33 is the downside boring time
" 12.33 to 13.33 is again an upside boring time.
" The time duration between 13.33 to 14.33 will be "tea break" or "no position zone".
" From 14.33 to 14.45, Nifty will be up only for 10 minutes and then will remain on the surface
thereafter.
20-12-2019 Friday
" Nifty will remain up from 09.15 to 10.40.
" Nifty will trade down side during 10.40 to 12.22.
" From 12.22 to 13.28, Nifty will trend up.
" Nifty will gradually slow down from 13.28 to 14.01
" Nifty will be up from 14.01 to 14.34.
" If you look at the big view after 14.34, then the market will be down.
Financial Weekly

INVESTMENT
REVIEW OF “SMART PLUS NEWS LETTER”

Amazing 29% RETURN
SMART GAIN FOR SMART INVESTORS
Company Reccom. Weekly Ch. Company Reccom. Weekly Ch.
9-12-2019 High (%) 9-12-2019 High (%)
Kotak Bank 1674 1715 2.45 I. B. Housing Fin. 286 309 8.04
Balkrishna Ind. 921 953 3.47 J. B. Chemical 405 422 4.2
Century Textiles 488 501 2.66 Hindlco 197 208 5.58
Tata Elxsi 846 858 1.42 ICICI Bank 525 537 2.29
SRF 3230 3304 2.29 Canara Bank 208 228 9.62
Dixon 3440 3552 3.26 Indusind Bank 1463 1486 1.57
Mind Tree 738 763 3.39 Tata Motors 161 176 9.32
CEAT 964 980 1.66 Axis Bnak 741 752 1.48
Kotak Bank 1674.3 1715 2.43 Dish TV 12 13 8.33
Astral Poly 1151.6 1179 2.38 Vascon Engg. 12 13 8.33
INOX Lesuire 364 373 2.47 ARVIND Smart 87 88 1.15
M & M Fin. 327 341 4.28 Deeapk Nitrite 332.8 355 6.67
Gujarat Gas 227 231 1.76 Equitas 107 112 4.67
Petronet LNG 264 275 4.17 Mitsu Chem. 185 240 29.73
Tata Global 322 327 1.55 Manappurm Fin. 158 173 9.49
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INVESTMENT
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Financial Weekly

INVESTMENT
Editor : Dilip K. Shah
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Disclaimer :- Investment recommendations made in Smart Investment are for information
purposes only and derived from source that are deemed to be reliable but their accuracy and
completeness are not guaranteed. Smart Investment or the analyst / writer do not accept any
liability for the use of this column for the buying or selling of securities. Readers of this column who
buy or sell securities based on the information in this column are soley responsible for their ac-
tions. The author, his company or his acquaintance may / may not have positions in the scrips
featured herein
Financial Weekly

INVESTMENT
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Only Financial Weekly Published in

English & Gujarati Language

Editor : Dilip K. Shah

Phone : 079 - 2657 66 39

E-mail Edition (Soft Copy) of Smart Plus News Letter

Combined Package for Weekly & News Letter

Contact : 079-26576639 (M) 9825006980

GAMC No. :1703/2018-20. Issued by SSP Ahd. Valid up to 31-12-2020

FII Activity (Rs. in Cr.)

Most Popular Webstie for the Stock Market Investors

SMART 15th December to 21st December 2019 4

Prince Pipes and Fittings

the industry. It sells products under two brand names:

IPO Details Prince Pipes and Fittings is entering

SMART 15th December to 21st December 2019 5

SMART 15th December to 21st December 2019 6

Net Revenue from Operations PAT & PAT Marging

FY17 FY18 FY19 Q1FY20

Object of the Issue

tonnes per annum as of July 31, 2018.

SMART 15th December to 21st December 2019 7

Smart Education : Ankit Gala (9819664831)

SMART 15th December to 21st December 2019 8

Should L&T script worry investors?

Avoid financial accidents! Become an empowered investor

Delhi (5 Jan 2020)

SMART 15th December to 21st December 2019 9

Hard Copy is available on Every Sunday Morning at your nearest book-stall

More detail about Subscription

SMART 15th December to 21st December 2019 10

Rapid Fire Stocks

Kalpna J (Email- Kjtech79@gmail.com)

(Ring : 97690 37711) Twitter : @Kj_TechTrades

CONCOR (Buy at CMP : 577)

SMART 15th December to 21st December 2019 11

SMART 15th December to 21st December 2019 12

NIIT (Buy at CMP - 1490)

The company’s consolidated

NIIT Tech reported better than

Revenue grew by 4.6% qoq to

NIIT Technologies is a leading IT solutions organization, servicing customers in North America,

SMART 15th December to 21st December 2019 13

Tech Mahindra (BUY at CMP 761 )

Rapid Fire Stocks

SMART 15th December to 21st December 2019 14

Smart SME Stocks - Dilip K. Shah

SME Stocks worth Keeping in Mind

SMART 15th December to 21st December 2019 15

SMART 15th December to 21st December 2019 16

Spencer's Retail Limited (Rs.64)

SMART 15th December to 21st December 2019 17

BULLS RETURN WITH A BANG

This Weeks Recommendations

:::: INDEX LEVELS ::::

SMART 15th December to 21st December 2019 18

SMART 15th December to 21st December 2019 19

Buy or Sell, Confused ?

BUY.... BUY....BUY TIPS OF THE WEEK

SMART 15th December to 21st December 2019 20

A test above resistance is a good news

SMART 15th December to 21st December 2019 21

Shriram Transport Finance Ltd. (1105.2)

Buy... Buy... Buy on Dips Hold Sell on High