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27th November 2022 to 3 rd

December 2022 2
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VOL : 15 • Issue No: 42 RNI No : GUJENG / 2008 / 24320 27th Nov. 2022 to 3rd Dec. 2022
FII ACTIVITY (Rs. in Cr.)

DATE BUY VALUE SELL VALUE NET VALUE
21-11-22 4890.72 6484.55 -1593.83
22-11-22 7288.52 7986.35 -697.83
23-11-22 7231.13 8020.99 -789.86
24-11-22 6471.93 5239.95 1231.98
25-11-22 5715.97 5346.89 369.08
TOTAL 31598.27 33078.73 -1480.46
DII ACTIVITY (Rs. in Cr.)
DATE BUY VALUE SELL VALUE NET VALUE
21-11-22 5991.73 4728.82 1262.91
22-11-22 5334.42 4698.03 636.39
23-11-22 6123.98 5710.23 413.75
24-11-22 5850.7 6086.36 -235.66
25-11-22 5358.11 5654.03 -295.92
TOTAL 28658.94 26877.47 1781.47
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Financial Weekly TM

December 2022 5
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Financial Weekly TM

December 2022 6
Rapid Fire Stocks
Kalpna J (Email- Kjtech79@gmail.com)

(Ring : 97690 37711) Twitter : @Kj_TechTrades
VOLTAS (RS. 829.00)

FOR THE TARGETS OF 950-975 , TIME FRAME 1-3 MONTHS
Incorporated in 1954, Voltas Limited is a part of the Indian multinational conglomerate, the
TATA Group. The Company is India’s largest air conditioning company, with a strong presence
offering leading engineering solutions across Air Conditioning and Cooling Products (Unitary
Products), Engineering Projects and Engineering Products & Services. At Voltas, our focus is on
driving value through smart engineering and providing best-in- class business solutions to con-
sumers and industries – unlocking exceptional value for all our internal and external stakehold-
ers. We are one of the most reputed, distinguished, and trusted Indian engineering solution pro-
viders specialising in project management. The Company plays an essential role in developing
the nation’s infrastructure and exporting unparalleled expertise across, Cooling and Ventilation,
Infrastructure Projects, Engineering, Construction, Textile, Mining and Manufacturing ectors. Ex-
tending our expertise in the consumer durables segment, we entered the Home Appliance seg-
ment through a 50:50 Joint Venture with Arçelik (VoltBek).
Driven by the philosophy of Jamsetji Tata to build a better nation.
Voltas plays a vital role in developing the infrastructure of the nation as well as exporting their
unparalleled expertise across Technology, Engineering, Construction, Cooling and Ventilation
COOLING AND REFRIGERATION SOLUTIONS :- Voltas has been synonymous with cooling
products in India for the last six decades. We are well known for the quality of our products, our
range, extensive reach & sensible pricing. As a market leader, we have the highest brand equity in
cooling and comfort appliances. Our 24,000 consumer touchpoints across the country - the most
for any AC brand - allow us to meet the constantly increasing customer demand for our products.
We are delighted to have provided comfort and convenience to millions of households across
India Giving back to the community governs Voltas’s CSR engagement. Impacting lives positively
is deeply rooted in the Voltas philosophy. As a company that has gained and grown from the
resources and people of the nation, we strongly believe it is our responsibility to give back to the
society. Over the decades we have put in place numerous programs, with a focused approach to
Engage, Equip and Empower- building people’s participation, equipping them to work towards
social development and bringing in ownership
Cont....
Financial Weekly TM

December 2022 7
TNPL (RS. 256.00)
FOR THE TARGETS OF 313 TO 395, TIME FRAME 2 TO 6 MONTHS
In Pulp and Paper sector only TNPL was selected for the Industry Excellence Award due to
adoption of Circular Economy Model in TNPL.
As one of the integrated pulp and bagasse-based paper mills in the world, our products are an
extension of our commitment to sustainability – in production, innovation and conservation. TNPL
embraces self-sustenance in power generation and pulp – sugarcane residue and chemical hard-
wood, producing 600,000 tonne paper and Packaging Boards per annum.
Infrastructure :- Serving Eco-friendly Papers to 60 Countries. Established in Kagithapuram in
October 1985, TNPL is one of the most eco-friendly paper mills in the country. From raw materials
to production and beyond, TNPL gives precedence to conservation – of both resources and the
environment.
Besides 3 state-of-the-art paper machines and a World Class Packaging Board Machine, TNPL
set up a Deinking Pulp Line dedicated to recycling waste paper. TNPL earns its world-class paper
quality renown, thanks to our investment in revolutionary infrastructure. By recycling its effluents to
create bio-gas, cement and reusable water, TNPL closes the loop creating a circular economy.
Valmet Auto Paper Lab :- One of the most advanced and fully-automated paper testing ma-
chines, this helps test, recognise discrepancies and file reports in record time.
Rapid Fire Stocks

For My Personal Assistance with My
Elite Membership At a Nominal Cost
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Financial Weekly TM

December 2022 8
D(en)O(f)W(ealth)
Performance of our latest Recommendations
Date Stocks Recom. Remark
6th July 22 M&M Finance Buy at 185 with stop loss of 160 Booked 50% profit at 206 on 12th July
and rest 50% booked on 6th September
at 220
12th July 22 NELCAST Buy at 69 with stop loss of 60 Booked 50% profit at 79 on 24th August
at 88.5
28th July 22 RUCHIRA Paper Buy at 122 with stop loss of 105 Booked 50% profit at 136 on 3rd August
and exit rest at 128 on 16th August
16th August 22 MIDHANI Buy at 179 with stop loss of 165 Booked 50% profit at 191 on 24th August
at 225
24th August 22 CAPACITE INFRA Buy at 157 with stop loss of 140 Booked 50% profit at 173 on 29th August
at 184
5th September 22 MIDHANI Buy at 210 with stop loss of 185 Booked 50% profit at 225 on 16th Sep-
tember and rest 50% booked on 10th Oc-
tober at 250
14th Sept. 22 H T MEDIA Buy at 24.75 with stop loss of 22 Stop loss clicked
15tth Sept. 22 J M FINANCE Buy at 69 wth stop loss of 63 Booked full profit on 23rd September at
76.25
19th Sept. 22 VARDHMAN Acry. Buy at 59 wth stop loss of 54 Stop loss clicked
4th October 22 SKM EGG Buy at 103 with stop loss of 92
11th October 22 HCC Buy at 15.75 with stop loss of 13 Book full profit on 18th November at 18
12th October 22 BHARAT SEATS Buy at 83 with stop loss of 77 Book full profit on 13th October at 89
25th October 22 RVNL Buy at 39 with stop loss of 35 Book full profit on 4th November at 44
27th October 22 BBL Buy at 2160 with stop loss of 1850
3rd November 22 REDINGTON INDIA Buy at 159 with stop loss of 140
7th November 22 NELCAST Buy at 93 with stop loss of 78
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Financial Weekly TM

December 2022 10
Smart Report Het Zaveri
- Ahmedabad
Cummins India- Research Report

Cummins Indiais aA /T+2 groupDiesel Enginescompany
having Face value of Rs 2.00. Cummins, a global power
technology solutions provider is a corporation of comple-
mentary business segments that design, manufacture, dis-
tribute andservice a broad portfolio of power solutions. The
CMP 1378
52 - week high Rs. 1391
52 - week low Rs 842 company's products range from in-
Dividend % (consolidated) 925.00% ternal combustion, electric and hy-
ROCE 20.31% brid integrated power solutions and
BVPS 180.85 components including filtration,
Revenue 6170.92cr. aftertreatment, turbochargers, fuel
Debt to Equity 0.05 systems, controls systems, air han-
P/E ratio 42.83 dling systems, automated transmis-
EPS 32.18 sions, electric power generation sys-
P/B ratio 7.62 tems, microgrid controls, batteries,
Market Cap 38208 cr. electrolyzer and fuel cell products.
Face value Rs. 2.0
Cont...
Financial Weekly TM

December 2022 11
Financial Results:
Company's Net Sales Rs 1,957.28 crore in September 2022 up 13.12%, Quarterly Net Profit at
Rs. 267.31 crore in September 2022 up 20.94%and its EBITDA stands at Rs. 358.79 crore in
September 2022 up 12.32%compared toSeptember 2021.
List of recent updatesregarding the company:
1. Cummins Inc. (parent company of Cummins India) entered into a definitive agreement to
acquire, through a wholly owned subsidiary, all the issued and outstanding shares of fuel cell
systems provider Hydrogenics Corporation) for US$15.00 per share.
2. Recently the company also made an open offer to buy up to 26 % stake in the company for the
acquisition of 39.29 lakh fully paid-up equity shares at the value of Rs1504.3 per share. It
already owns 35.52 % stake in Automotive Axles.
3. Cummins India Limitedhas collaborated with PI Green Innovations Pvt. Ltd. to launch an
innovative clear air solution - Retrofit Emission Control Device (RECD). The company will
market RECD through its extensive distribution network in India as part of this contract with PI
Green Innovations. RECD is based on Electrostatic Precipitation fundamentals and is built
on filter-less technology. It improves air quality and captures Particulate Matter (PM) from the
air with more than 70% efficiency.
4. Recently the company acquired of Meritor, Inc., a leading global supplier of drivetrain, mobil-
ity, braking, aftermarket and electric powertrain solutions for commercial vehicle and indus-
trial markets. It will position Cummins Inc. as a leading provider of integrated powertrain solu-
tions across internal combustion and electric power applications.
5. Tata Motors, the largest commercial vehicle manufacturer in India, had signed a Memoran-
dum of Understanding (MoU) with Cummins to collaborate on the design and development of
low and zero-emission propulsion technology solutions for commercial vehicles in India, in-
cluding hydrogen-powered internal combustion engines, fuel cells, and battery electric ve-
hicle systems.
6. CUMMINS Inc.also acquired 50% stake in MOMENTUM FUEL TECHNOLOGIES from RUSH
ENTERPRISES. The joint venture between Rush Enterprises and Cummins will seek to
enhance production of near-zero emissions natural gas powertrains by manufacturing
Cummins-branded natural gas fuel delivery systems for the commercial vehicle markets.
7. Cummins India's global company Cummins revealed its fourth-generation hydrogen fuel cell
engine at IAA. Designed to meet the duty-cycle, performance and packaging requirements of
medium- and heavy-duty trucks and buses, the fuel cell technology is available in 135 kW
single- and 270-kW dual modules.Scania in Europe and Daimler Trucks North America have
each announced collaborations with Cummins to develop and integrate these next-genera-
tion fuel cell engines.
8. Cummins Inc. engines powered the world's first fleet of hydrogen trains in Bremervörde, Lower
Saxony, Germany. The Alstom Coradia iLint trains are outfitted with Cummins fuel cell sys-
tems and will run on the world's first 100%-hydrogen train route in passenger operation.
9. Cummins India Ltd is a leading manufacturer of diesel engines and power generator sets
Cont...
Financial Weekly TM

December 2022 12
with a 40% market share in the dieselengines/gensets industry. It also has a strong presence
in high-value and high-margin high HP gensets.Each data center needs to be equipped with
power backup system, which includes diesel genset as it requires 24*7 power. Thus,there is
a huge underlying opportunity in the diesel genset market.
10. Cummins India also has a strong presence in space sector as the specially engineered
Cummins generator was used in ISRO's Chandrayaan - 2 mission and it performed flaw-
lessly to ensure the Chandrayaan-2 had the power to leave the earth.
11. Cummins India's parent company Cummins Inc introducedthe industry's first unified, fuel-
agnostic engines, these platforms will use engine blocks and core components that share
common architectures and will be optimized for different low-carbon fuel types.
12. The company recently organized their first roadshow to showcase it's 'Made in India' B6.7
Marine Engines in Kolkata, West Bengal. The Cummins B6.7 Electronic Engine is one of the
most dependable and durable medium-duty engines available for the Fishing Boat market.
These engines feature a quick response time and rapid acceleration, allowing for ease of
operation and assuring reliable performance.
In past three year the stock gave a return of 142.35%as compared to Nifty which gave a return of
53.33%and 142.48%return compared to 52.35%rise in Sensex.
The demand for decarbonized solutions accelerates, ePowertrains will be a critical integration
point within hybrid and electric drivetrains creating packaging and performance differentiation and
the opportunity to provide advanced clean mobility products for customers. The order visibility
continues toremain strong on the back of higher infrastructure spends, PLI investments, 5G and
cloud-based data storage driving demand for datacenters. Strengthening macroeconomic funda-
mentals and increased investments in infrastructure, data centres, and commercial realtywill fur-
ther drive demand for backup power. Cummins has already made its strong presence in future
technology of alternative fuels that is Hydrogen powered vehicles powered by Hydrogen Fuel cell
used engines through its parent company i.e. Cummins Inc. Company also has strong order book,
good financial performance backed by the global and strong presence of its parent company
Cummins Inc. and ambition of Net Zero emission which will help it in gaining market share in
Hydrogen Powered engines in all modes of transport from early stageso, considering all these the
stock can be added in portfolio for longer term and higher returns.
- HET ZAVERI
info@smartinvestment.in
(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. Investors must take advice from their financial advisors
before investing in any stocks.)
Financial Weekly TM

December 2022 13
https://paytmmoney.onelink.me/9L59/9091brhr
Financial Weekly TM

December 2022 14
Performance Report - Mid-term / Long-term

Co. Name Recomm. Target SL Time Frame Return Recomm. Target Day
Date
Lalpath Labs 2152 2370 1995 30 days 10% 31/05/2022 15/11/2022 168
HdfcAmc 1881 1977 1741 30 days 5% 31/05/2022 15/11/2022 168
Bajaj Finance 6000 6850 5600 30 days 14% 31/05/2022 15/11/2022 168
ABCAPITAL 98 122 92 2 to 3 months 24% 03/06/2022 15/11/2022 165
Privi Organics 1074 1272 1010 60 days 18% 30/06/2022 15/11/2022 138
Au Banks 561 605 525 45 days 8% 01/07/2022 15/11/2022 137
Neuland Labs 1240 1480 1160 60 days 19% 14/07/2022 15/11/2022 124
Jamna Auto 118 145 110 45 days 23% 06/09/2022 15/11/2022 70
Precision Camshaft 116 145 45-60 days 25% 06/09/2022 15/11/2022 70
Shriram Transport 1340 1425 1310 30 days 6% 07/09/2022 15/11/2022 69
Zydus Life 375 401 364 30 days 7% 07/09/2022 03/10/2022 26
Likhitha Infra 350 400 325 30 days 14% 14/09/2022 15/11/2022 62
Acrysil 720 840 655 60 days 17% 14/09/2022 15/11/2022 62
KPIT Tech 615 662 570 90 days 8% 23/09/2022 03/10/2022 10
Rk forge 189 231 168 1-4 months 22% 23/09/2022 17/10/2022 24
Ambuja Cement 530 655 505 90 days 24% 23/09/2022 15/11/2022 53
AsterDM 246 275 178 90 days 12% 27/09/2022 04/11/2022 38
Ester 156 165 147 2 weeks 6% 28/09/2022 07/10/2022 9
F iem 1435 1640 1348 30 days 14% 28/09/2022 15/11/2022 48
Ion Exchange 2050 2235 1944 2 weeks 9% 28/09/2022 15/11/2022 48
R ites 315 375 268 2-3 weeks 19% 30/09/2022 07/10/2022 7
Sanofi 5886 5594 6300 3-4 weeks 5% 03/10/2022 15/11/2022 43
GMR Infra 35.45 38 32.4 4 weeks 7% 04/10/2022 15/11/2022 42
Aarti Inds 744 808 720 8 weeks 9% 04/10/2022 15/11/2022 42
Mishra Dhatu Nigam 200 246.9 189 4 weeks 23% 04/10/2022 07/10/2022 3
Glenmark Pharma 390 407 382 15 days 4% 07/10/2022 15/11/2022 39
ACC 2355 2577 2279 8 weeks 9% 07/10/2022 15/11/2022 39
Nifty 17235 17170 17278 2 days 0% 10/10/2022 10/10/2022 0
SBI IT ETF 287 300 0 15 months 5% 11/10/2022 01/11/2022 21
TWL 150 178 132 12 weeks 19% 12/10/2022 25/11/2022 44
Tata Investment 2350 2800 2240 60 days 19% 14/10/2022 15/11/2022 32
PEL 800 874 775 20 days 9% 18/10/2022 04/11/2022 17
Mrs Bector 390 429 360 45 days 10% 18/10/2022 23/11/2022 36
Union Bank 45 60 42 1-2 months 33% 21/10/2022 07/11/2022 17
Acc 2260 2400 2220 1 month 6% 27/10/2022 15/11/2022 19
NCC 74 78 63 3 months 5% 25/10/2022 16/11/2022 22
Som Distillery SDBL 107 121 98 2-4 weeks 13% 27/10/2022 22/11/2022 26
IIFL FIN 365 424 350 3 months 16% 27/10/2022 04/11/2022 8
IEX 140 150 131 1-2 months 7% 07/11/2022 25/11/2022 18
ION Exchange 2246 2508 2030 45 days 12% 09/11/2022 15/11/2022 6
Exide 177 185 165 30-40 days 5% 10/11/2022 17/11/2022 7
Bharti Airtel 828 853 814 1-2 weeks 3% 10/11/2022 22/11/2022 12
IIFL Finance 413 470 393 1-2 weeks 14% 14/11/2022 23/11/2022 9
Average Return 13% Averge Hold. Time 50.37
Cont...
Financial Weekly TM

December 2022 15
Performance Report - Futures
Co. Name Recomm. Target SL Time Frame Return Recomm. Target Day
Date
SBI BANK Futures 540 519 555 5-7 days 7% 05/08/2022 08/08/2022 3
TATA MOTOR 470 442 494 5-7 days 3% 05/08/2022 23/08/2022 18
BAJAJ-FINANACE 7340 7100 7445 4-6 days 4% 12/08/2022 23/08/2022 11
COFORGE 3805 3600 3905 4-6 days 6% 12/08/2022 23/08/2022 11
Nifty Future 17590 17530 17635 1 day 1% 23/08/2022 23/08/2022 0
Bank Nifty Future 38995 38800 39120 1 day 1% 24/08/2022 24/08/2022 0
Nifty Futures 17115 17190 17080 2 days 0% 11/10/2022 11/10/2022 0
Nifty Futures 17125 17110 17165 1 day 1% 12/10/2022 12/10/2022 0
MINDTREE 3430 3310 3488 4 days 3% 14/10/2022 14/10/2022 0
BAJAJ FINANCE 7370 7280 7445 6 days 2% 18/10/2022 20/10/2022 2
SBI BANK 608 592 623 4-5 days 2% 10/11/2022 14/11/2022 4
Average Return 2.7% Averge Hold. Time 4
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Buy... Buy... Buy on Dips Hold Sell on High

Union Bank 76.00 Balrampur Chini 376.00 Easy Trip 65.00
Birla Soft 293.00
GMR Airports 40.00 GNFC 607.00 Globus Spirits 795.00
IEX 150.00
Man Infra 77.00 India Cement 240.00 Craftman 3026.00
Redington 178.00
L&T Fin 86.00 RBL bank 150.00 VBL 1150.00
Welspun Enter 146.00
MMTC 38.00 Bajaj Auto 3637.00 Indoco Remedies 402.00
IB Housing 138.00
Power Fin 136.00 Canara Bank 326.00 Adani Total 3662.00
ITDC 404.00
Veer Engg. 16.00 Bandhan bank 219.00 Elgi Equip 485.00
IIFL Fin 473.00
AB Capital 135.00 Biocon 282.00 ICICI Lombard 1157.00
Panama Petro 406.00
Konark Syn. 16.00 Mphasis 1989.00 Gland Pharma 1693.00
IGL 430.00
IDFC 80.00 Oberoi 894.00 Gujarat Gas 491.00
Zee Ent 259.00
Vascon 40.00 Ashok Leyland 148.00 Shriram Trans. 1280.00
Rain Ind 178.00
Financial Weekly TM

December 2022 16
Jatin Sanghavi
Market Scan (Mumbai)
(M) 098205 26455
jatinsanghavi100@yahoo.com
NIFTY 19000 - COMING SOON

NEW HIGHS THIS WEEK
Nifty started the week on a bearish note and the Short term Average of 20dma came to the rescue. As a
result, Nifty progressed upwards and the Short Term Trend continues to be Bullish. On the Weekly timeframe,
both Sensex and Nifty have formed a Real White body candle and thereby completing a Rounding Bottom
on the Sensex and near about completing on the Nifty. Sensex has closed at life-high levels whereas it is
the highest weekly closing on the Nifty. Nifty seems to be on its way to achieve the Golden Ratio target
(18929) of Rounding Bottom on the daily timeframe. It is almost given that the Nifty will most likely register
new-highs this week.
18259-18103 : S-ZONE SUCCESSFULLY RETESTED :- This week again, both Sensex and Nifty
successfully retested the Support Zone - I at Sensex 61311-60848 and Nifty 18259-18103. Thus it is a
strong Support and it coincides with Short Term Average of 20dma. A break of this will reverse the Short
Term Trend. There is another Bullish Gap at Sensex 60246-60133 and Nifty 17899-17838 on Daily as well
as Weekly timeframe. This Gap will act as strong Support Zone - II. The above Gap is also a Measuring
Gap. The Target as per Gap Theory falls at Sensex 64232 & Nifty 18990.
NIFTY PATTERN TARGET -
21045 :- On the Weekly timeframe,
both the indices had completed a Bull-
ish Cup & Handle formation three
weeks back. The Targets are placed
at Sensex 66978 (161.8%) and 70769
(pattern) and Nifty 19925 - 21045. This
week, both the indices completed
Rounding Bottom on the Weekly
timeframe. The Targets are placed at
69243-73569 for the Sensex and
20718-22025 for the Nifty. The above
Targets will be achieved as long as
This Week Recommendations Sensex remains above 56147 and
Nifty above 16747.
Stocks CMP SL Tgt-1 Tgt-2
Buy JK Cement 3014 2944 3123 3238
LAST WEEKS RECOMMENDATIONS
Buy Persistent 3970 3880 4110 4259 Stocks Recom Price Target Reached
HoneyAuto 41020 42689 42725
Buy IndusInd 1187 1162 1225 1265 AmbujaCem 574 594 578
Buy GenusPower 96 94 100 105 IIFL 445 483 485
IDBI 48 52 53
Buy IDFCBank 58 56 62 66 IRFC 27 31 32
:::: INDEX LEVELS ::::

S3 S2 S1 CLOSE R1 R2 R3
NIFTY 17919 18103 18296 18512 18751 18929 20162
SENSEX 60246 60905 61576 62293 63045 63778 64338
Financial Weekly TM

December 2022 17
VISHAL BALIYA
(Co-Founder - Happy Candles Investment )
+91 7043469423 : Twitter Handle: @candles_happy ; Email: info@happycandlesinvestment.com
Smart School Article 5

In the series of Smart School Articles, we have seen so far the Power of MKPS. (Money, Knowl-
edge, Patience and Simplicity). Now let us understand a major flaw that a retail investor commits in
identifying stock. Let us consider a hypothetical situation: Stock of X company is trading at Rs.
10,000 and a stock of company Y is trading at Rs.10. Now if someone asks you a question which
is a cheaper stock that of company X or company Y, What will be your answer? Most of us will say
that stock of company Y is cheaper.
In the real world unfortunately this is not the correct answer. Understanding the real value of the
stock is not so simple. We need to understand many concepts to understand real value of stocks.
One of the most important concept is Price to Earning or PE of the stock. PE of a stock in simple
terms is the ratio of share price of the stock to its Earning Per Share (EPS). So if a share of the
company is trading at Rs. 10,000 and Earning Per Share is Rs.1000, the PE ratio of that share is
10. Similarly, if Earning per share of a company is say 10 Paisa and the stock is trading at Rs.10.
PE ratio of that share is 100. In this hypothetical situation a share of Rs. 10,000 with EPS of Rs.1000
might actually be cheaper in valuation than that a stock trading at Rs.10 with a PE of 100.
Most of the times retail investors who trade / invest in stock market without understanding funda-
mentals of a company make this elementary error of buying stocks that look cheap. A stock has to
be bought after understanding it's intrinsic value. SMART SCHOOL by Smart Investment provides
a student of any age for 18 to 80 an opportunity not only to understand fundamentals of a company
but also gives such snippets and accurate ways of analyzing the stock before investing in them.
Moreover, to maximize your profit this kind of courses give you an opportunity to understand what
are the correct technical levels to enter these fundamentally strong stocks.
An investor should be concerned about the return on investment he is getting. If an investor buys
10 stocks of Rs.10000. he has invested Rs.1,00,000/-. Now if he sold each of these 10 stocks at
Rs.1100 he has got a 10% return. If the same investor bought 1000 stocks of a company at Rs.10
and sold each at Rs.11 he is still making 10% profit. Thus what is important is how much return on
investment one gets. Thus Return On Investment ROI is important not the number of stock you
have. End of the day number of stocks you have does not matter. (Calculation of ROI would also
include time and dividend that one received. We are just considering basic earning to understand
the concept Price of the stock is less important what is more important is the Return on Investment.)
Thus we understood 2 important concepts today.
1. Valuation of stock depends on the Price to Earning and not on the price at which the stock is
trading. Don't be afraid of buying a stock which looks expensive but has an attractive PE
ratio. At the same time don't rush to buy a stock which looks cheap but is trading at a very high
Price to earnings.
2. Return On Investment does not depend on number of stocks you have.
Note: Price to Earning is an important criterion but not the only factor to consider while
buying a stock. There are other important fundamental parameters which one has to con-
sider while buying a stock. We will study some of these 'other' parameters in future articles.
For courses related to Stock market analysis visit website

https://smartschool.smartinvestment.in/newApp/store/
Financial Weekly TM

December 2022 18
Dev information Technology Ltd
BSE: 543462 • NSE: DEVIT • CMP: RS.137
HNI Samip Adani picks up Stake in Dev Information Technology Ltd.
Is it that Adani Group which is already
having tie up with Dev IT , is on Acquisi- Corporate
tion Spree?? Keep Watch Feature
As per data on Exchange,HNI Mr. Samip Adani has picked up stake of 60,000 shares
via bulk deal in Dev Information Technology Ltd. (DEV IT) (BSE 543462 ) (NSE DEVIT),a
leading technology solution provider delivering digital solutions leveraging Cloud, Auto-
mation & Data.
Recently it had teamed up with Adani Institute of Digital Technology Management
(AIDTM) & Orena Solutions to upskill IT students & professionals in Cloud, AI/ML, Blockchain
& ongoing digital transformation technologies and give them career opportunities. DEV IT
Ltd, expects to significantly increase its workforce by 50% in the coming years and to
ensure that this growth journey is fuelled with the right talent pool to strengthen their solution capabilities in Cloud, AI/ML,
Blockchain and Mobility, DEV IT has entered into an agreement with AIDTM & Orena Solutions.
By this, DEV IT aims to provide unique opportunity to aspiring talent by providing job-oriented customised dedicated
courses and developing their career in their preferred industry domain in association with AIDTM & Orena Solutions. They
shall be providing the necessary training and skill upgrades.Interested candidates with bachlors in Computer Science, IT,
Communications and Computer Engineering as well as MCA will qualify to apply for this. The application-oriented proficiency
program, tailormade by the AIDTM and by Orena Solutions, aligns with the updated industry requirements in varied domains.
DEV IT is a one-stop digital solution provider company for various IT needs and helps its clients optimise their IT into a
strategic asset. Adani Institute of Digital Technology Management (AIDTM)is inspired and convinced by the need to bridge the
gap between innovative ideas and create a futuristic disruptive technological impact on the industry.Orena Solutions is the
industry leader in providing exclusive professional training to candidates .
DEV INFORMATION TECHNOLOGY LTD (DEVIT) has been awarded with prestigious IAMCP P2P Awards 2022 in Bronze
Category to recognize excellence in business collaborations with other Microsoft Partners in APAC region.The award has
been presented by IAMCP (The International Association of Microsoft Channel Partners) which happens to be the World's
largest community of Microsoft partners.In this era of specialization, single-handedly meeting a client's needs with an end-to-
end technology solution is an ongoing challenge for many. The Partner-to-Partner (P2P) relationships promoted by IAMCP
across the globe help collaborate between businesses. This recognisation will be a golden opportunity for DEV IT which is a
Microsoft Gold Certified Partner, specialized on Azure Cloud, Microsoft Dynamics 365 and AI/ML, as this has helped to drive
our businesses forward and expecting to generate more business opportunities, locally and globally.
DevX, Gujarat's largest Managed Office Space provider, today announced the launch of it's 2nd Coworking space in Pune.
To further expand it's national presence, DevX plans to double it's India portfolio by investing Rs 60 crore.
Recently feted as Gujarat's leader in the Managed office space segment, DevX is a co-working space cum accelerator
founded in September 2017 by 3 entrepreneurs Rushit, Umesh Parth (the RUPaiyya trio as they are known in the ecosystem)
and one listed entity: Dev Information Technology Ltd. The company was envisioned as a Startup Accelerator focussed on
nurturing innovative startups by providing them with all requirements. Positioning DevX as an equal partner in growth, the
company supports through their allied strategic partnerships and services. The different initiatives of DevX are thus structured
to build synergies, enabling cross-pollination of ideas as a means of collaborative growth and development. The company's
initiatives address different requirements across the value chain.
Speaking on the launch, Mr Umesh Uttamchandani,
Co-Founder - DevX said, "Launching our 2ndrd center in
Pune helps us deepen our Maharashtra presence and
reaffirms our core values of offering world-class office
infrastructure with an immersive experience. We are proud
to have global firms like Aarete at the 2nd center, helping
us setting standards for the segment to aspire to. With
our stated business goal of being the partner of choice
for GCCs & ODCs, I am excited about the future of the
Industry. Growth-centric corporates are increasingly opt-
ing for managed workspaces, which perfectly meshes
with our philosophy of offering best-in-class work-space
experiences at competitive pricing. With 25 centers across
ANALYST'S EXPECTATION India, DevX will double it's India portfolio by investing 60
crore."
Short Term Target Rs 300 • Positional Rs 500
***
Financial Weekly TM

December 2022 19
Equichain Wealth Advisors
Global Markets Nikunj Vithlani
nikunj200531@gmail.com
US Balance sheet &

Economic data indicates weakness
Last week we have discussed jobs cut by big tech companies and some other key indicators
such as US bond yield, softening in crude oil prices and ECB finally acknowledging that they are
much behind the curve as compared to US Fed, BOE and other central banks globally.
This week we will focus on US Fed meeting minutes, US Jobless claim and China's attempt to
boost economy which has been hit by zero COVID policy and stringent lockdown. Recent rally in
global market is purely supported by narrative that US Fed will slowdown rate hike and likely to
pause see impact of steepest rate hike in recent US history.
US Fed - Balance sheet @ $ 8.62 trillion Vs peak of $ 8.96 trillion.
Cont...
Financial Weekly TM

December 2022 20
" US Fed balance sheet was at $ 8.96 trillion in March 2022 which is currently at $ 8.62 trillion.
" Currently US Fed QT is at $95 billion per month and is expected to continue till Mid 2023.
Most Fed Officials Seek To Slow Pace Of Interest-Rate Hikes Soon
Federal Reserve officials concluded earlier this month that the central bank should soon moderate the
pace of interest-rate increases to mitigate risks of overtightening, signaling they were leaning toward down-
shifting to a 50 basis-point hike in December.
U.S. Jobless Claims Hit Three-Month High As Labor Market Cools
Initial unemployment claims increased by 17,000 to 240,000 in the week ended Nov. 19, Labor Depart-
ment data showed Wednesday. The median estimate in a Bloomberg survey of economists called for 225,000
Continuing claims, which include people who have already received unemployment benefits for a week
or more, rose by 48,000 to 1.55 million in the week ended Nov. 12, the highest since March.
• Fed Staff Warn Chance of Recession In Next Year Is Now Near 50%
• Federal Reserve staff economists briefed policymakers this month that the chances of a US recession
in the next year had risen to almost 50% on risks of slower consumer spending, global economic risks
and further interest-rate hikes.
• China Central Bank Boosts Stimulus To Aid Covid-Hit Economy
• China's central bank cut the amount of cash lenders must hold in reserve for the second time this year,
ramping up support for an economy racked by surging Covid cases and a continued property downturn.
• The People's Bank of China reduced the reserve requirement ratio for most banks by 25 basis points, it
said in a statement Friday. The adjustment takes effect on Dec. 5 and will inject 500 billion yuan ($70
billion) of liquidity into the economy.
Equichain Wealth Advisors: Market View & Opinion
• Recent development in global market is indicating weakness in economy after a series of rate hike by
US Fed, Bank of England, ECB and other central banks globally. Now weak economic data is consid-
ered as good for market as market rally on narrative that US Fed might slowdown on rate hike. US Fed
meeting on 13 - 14 December 2022 will end suspense, going into meeting monthly jobs data on 2-Dec-22
& CPI & Core CPI inflation data on 13-Dec-22 will provide further cues.
• Current global narrative of soft monitory policy due to economic slowdown in US or economic crisis in
Europe or economic impact in China due to zero COVID policy, all this indicate the return of easy moni-
tory policy globally. So, we repeat our view and statement for 3rd week straight that we see December
2022 as repeat of August 2007.
• Recent development seen this week have turned our view bullish and high probability of repeat of August
2007 - January 2008 phase which witness sharp rally in global assets class with risk-on sentiment.
Equichain Wealth Advisors - SEBI registration number (RIA): INA000016472
Telegram channel: https://t.me/Equichain
Nikunj Vithlani
Financial Weekly TM

December 2022 21
Financial Weekly TM

December 2022 22
Chart Check
Your Stock Our Recommendation
Gabriel India:
It is forming good rounding pattern on chart buy at cmp 182 sl 171 target 207…241
Bajaj Auto :
It is forming bearish pattern hence sell only below 3585 with sl of 3640 target 3465…3147
Financial Weekly TM

December 2022 23
Punjab national bank (PNB):
After sideways it has given breakout hence buy at cmp 53 with sl of 47 target 68
This are some stocks we received from our subscribers,

You can also send your to get featured in next week
For any query email us on
Financial Weekly TM

December 2022 24
Financial Weekly TM

December 2022 25
SMART FUNDS
Tracking the pulse of Mutual Funds, ETFs, and Bonds
By Vijaya Kittu M, GetPaidIndia.com
The author feels investors should constantly track their invested stocks and sectors to have an edge over the market.
1. MUTUAL FUND DRAFT OFFER DOCUMENT FILINGS BEFORE SEBI: There are no new Mutual Fund Draft
Offer Document Filings before SEBI during the week.
2. SMART FUNDS PICKS - LARGE& MIDCAP CATEGORY
" Mirae Asset Emerging Bluechip Fund
" Canara Robeco Emerging Equities Fund
" Kotak Equity Opportunities Fund
" SBI Large & Midcap Fund
" Edelweiss Large & Midcap Fund
3. SMART FUNDS - LARGE& MIDCAP CATEGORY FACTS
" Many schemes in this category came from other categories after their fund houses designated them to be L&M
schemes. Fund houses used the opportunity after SEBI created the new L&M category vide the Categorization
and Rationalization of schemes circular.
" Total number of schemes in the category: 27 schemes (strictly by SEBI definition; excluded Focused funds, FoF,
Index, and ETF funds; Only open-ended funds)
" Total number of investor folios: 74,30,902
" Net AUM in the category: Rs. 1,26,797.18 crores
" Average AUM (AAUM) in the category: Rs. 1,23,663.41crores
" Scheme with highest AUM: Mirae Asset Emerging BluechipFund(AUM of Rs. 23,691 crores)
" Scheme with lowest AUM: Bank of India Large & Mid Cap Equity Fund (Rs. 212 crores)
" Oldest scheme in the category: UTI Core Equity Fund(launched in February 1993)
" Youngest Scheme in the category: Baroda BNP Paribas Large & Mid Cap Fund(launchingon September 2020)
" Scheme with lowest expense ratio: 1.72 (for Regular plan; Mirae Asset Emerging Bluechip Fund)
" Scheme with highest Expense Ratio: 2.59 (for Regular plan; Bank of India Large & Mid Cap Equity Fund)
" The average Expense Ratio of the category is 2.13.
" Scheme with best returns in three years (Direct Plans): Quant Large & Midcap Fund (26.37%)
" Scheme with lowest returns in three years (Direct Plans): ABSL Equity Advantage Fund (14.89%)
MUTUAL FUND NEW FUND OFFERS DURING THE WEEK

Scheme Name NFO Closing Date
IDFC CRISIL IBX 90:10 SDL PLUS GILT - APR 2032
INDEX FUND November 28
Nippon India Nifty G-Sec Sep 2027 Maturity Index Fund November 30
Aditya Birla Sun Life Crisil IBX 60:40 SDL+AAA PSU APR 2026
Index Fund December 1
Samco ELSS Tax Saver Fund December 16
Kotak Silver ETF December 5
Mahindra Manulife Small Cap Fund December 5
Nippon India Fixed Horizon Fund - XLIV - Series 4 December 5
Nippon India Fixed Horizon Fund - XLIV - Series 5 December 9
Three-Month Stock Market Training Program

Learn Personal Finance, Mutual Fund, Retirement Planning,
Investing & Trading in Equity shares
To Register, WhatsApp to +91 98495 19188
Financial Weekly TM

December 2022 26
COMPUAGE INFOCOM ON FAST TRACK
BSE:532456 • NSE: COMPINFO • CMP : Rs.24
Corporate The company has announced a
Feature rights issue of 2.79 cr. Shares at a
Compuage(BSE - 532456 & NSE Code - COMPINFO),
one of India's leading Value Added Distributors that caters
price of Rs.20 per share.Issue
to system integrators, brand stores, enterprises, retailers
and more. Indian at heart, we offer world-class solutions in closes on 2nd December 2022
cloud, networking, cybersecurity, storage and servers. With
a diverse portfolio of IT solutions and customised services
across a wide spectrum of technology verticals, Compuage
creates enterprise advancement opportunities for its chan-
nel partners through aggressive market development and
continuous innovation. With offices and service centres pan
India, we serve our growing network of 12000+ online/
offline partners and system integrators- facilitating conve-
nient business operations.
Excellent Results Announced for quarter & half ended
30th September 2022.
Q2FY23 Consolidated Financial Highlights
" Total Income stood at Rs1,243 crore, up by 10% on yoy
basis
" EBITDA stood at Rs34.6 crore, up by 16% on yoy basis
" PAT stood at Rs8.4 crore, up by 11% on yoy basis
" H1FY23 Consolidated Financial Highlights
" Total Income stood at Rs2,186 crore, up by 22% on yoy
basis
" EBITDA stood at Rs61 crore, up by 29% on yoy basis Compuage has global infrastructure con-
" PAT stood at Rs14.6 crore, up by 70% on yoy basis
Commenting on the performance, Atul Mehta, Chair- sisting footprints in 7 countries across
man & Managing Director, said, "I am delighted to share
that the Company has reported a robust revenue growth of
SAARC nations, coupled with a direct
32% sequentially on the back of strong demand across our focus on Enterprise solutions, Cloud com-
product portfolio. Demand scenario from corporates and
households continues to remain healthy. puting, PC & Components and Mobility.
Our EBITDA too grew by a stellar 29% sequentially on account of better product mix and increased share of value-added
products. Additionally, we have made healthy progress on adding newer brand partnerships as well as have signed up distribu-
tion agreement with R&M India Private Limited to provide versatile structured cabling solution to partners.
We believe that the penetration of IT products in India is substantially lower than in developed nations, providing us sufficient
headroom for sustained long-term growth. Going forward, we will continue to focus on adding new brand partnerships and
agreements to widen our product portfolio, and explore newer markets in order to scale up our business which will lead to better
value creation and profitability."
Delivering Value Performance :- Compuage's rich and long standing legacy of 3 decades and sustained growth rate in
recent years highlights the seamless adoption of our innovative business frameworks to house a range of diverse and competi-
tive brands. At Compuage, we firmly believe that we grow when your business thrives. To facilitate the same, we aim to deliver
superior value to our customers, shareholders, vendors, employees and society through an elaborate portfolio of best-in-class
technology solutions and services.
Facilitating Growth and Prosperity :- With a fast growing
network of 750 employees, 28 global brands, 600 partner
locations across India and a sustainable growth rate over the
years, Compuage is well on its way to realise its vision of
becoming a world-class technology solutions and services
provider with strong values and beliefs- helping businesses
grow and economies prosper.
Vision :- To be a world class technology products & ser-
vices distribution company with strong values and beliefs.
ANALYST'S PROJECTIONS Mission :- To deliver superior value to our Customers,
SHORT TERM:Rs. 38 • POSITIONAL: Rs.60 Vendors, Shareholders, Employees and Society at large.
***
Financial Weekly TM

December 2022 27
Smart Banking & Financial Services
By Vijaya Kittu M, GetPaidIndia.com
The author feels investors should constantly track their invested stocks and sectors to have the
edge over the market.
IDFC FIRST BANK launched FIRSTAP - the country's first sticker-based debit card, in associa-
tion with the National Payments Corporation of India (NPCI), to facilitate transactions by simply
tapping the sticker on a Near Field Communication (NFC) enabled point-of-sale terminal.The new
debit card will be one-third the size of a regular debit card. The stickers debit card can be affixed on
any device of customer choice - such as cell phones, identity cards, wallets, tabs, AirPods cases,
amongst others.The card allows fund transfers up to Rs. 5,000 without any PIN. The bank has
recently started the Startup Banking Division and recently partnered with Nasscom'scenter of ex-
cellence as a preferred banker to new-age companies.
ICICI Bank is entering into a joint venture withIndian Oil Corporation and Chennai Petroleum
Corporation. The bank said it would invest Rs 50,000 as seed capital to take up 10% equity in a
joint venture. Axis Bank and SBI Life Insurance also are acquiringa 10% stake each. The JV aims
to set up a nine million metric tonne per annum refinery to produce petroleum products at
Nagapattinam, Tamil Nadu.
BANK NIFTY has hit a record high after touching the 43,339 points mark. The rally came be-
cause of renewed investor interest in large banks - from both the private and public sectors. A
hawkish interest rate regime, expectations of rising interest rates, and lowering provisioning are
the main reasons.Experts believe that if 43,333 hurdle is crossed, it can test 43,834 in the next few
sessions.
INDIAN BONDSare steady as the Indian Government is planning to raise Rs. 280 billion through
the sale of bonds later in the day. Market expectations are that RBI will also slow its rate hikes
considering what the Fed is doing.
BITCOINprices are under pressure after the crypto market is taking into account more informa-
tion emerging from the collapse of FTX cryptocurrency exchange. An estimated $1.4 trillion marketcap
has been lost by all the cryptocurrencies combined so far this year. New fears are emerging that
the FTX collapse is contagious. Morgan Stanley released a list of major firms with potential FTX
exposure. The market is also digesting a large transaction that is attributed to be suspicious. A total
of 10,000 bitcoin, worth around $165 million, were transferred to two unidentified recipients. The
crypto wallet attributed to the BTC-e exchange that is linked to the 2014 Mt is at the center of the
episode.
Financial Weekly TM

December 2022 28
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Financial Weekly TM

December 2022 29
Chart Check
Your Stock Our Recommendation
Want to get recommendations based on Technical Analysis on your
selected stock? Then Send us following details. We will give recom-
mendation based on it.
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Smart Investment Website Index
36,666 hits only 1 Week
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Kuber Bhandar of earnings
Future - Options, Stock - Watch, Funda - Picks,
Technical Shares, Speculative Scrips, Primary Market,
Financial Weekly TM

December 2022 30
SMART
BUY OF THE WEEK
Dark Horse
Dark Horse-1
BIMETAL BEARINGS LTD
(505681) (457.75) (Face Value: Rs.10)
Bimetal Bearings Limited is one of
Particulars 6 Months Ended
India's leading manufacturers of Engine (Rs. Cr.) H1FY23 H1FY22
Bearings, Bushings, Thrust Washers, Sales 115.66 88.80
Alloy Powder and Bimetallic Strips. BBL PBT 8.73 2.34
is a member company of the Amalgam-
PAT 6.75 1.81
ations group, one of India's largest light engineering conglomerates. The Amalgamations group
serves a cross section of Indian industry covering manufacturing, trading, distribution, printing and
publishing). BBL, since inception has had a strong OEM orientation with significant SOB with all
leading OEMs. BIMITE the aftermarket brand is the preferred choice of the discerning aftermarket.
BBL's strong material base and state of the art manufacturing systems has helped it make strong
inroads in the international markets too.
It has an equity base of Rs.3.83 crore that is supported by reserves of around Rs.196.18 crore.
The promoters hold 74.88% of the equity capital, which leaves 25.12% stake for the investing
public.
During Q2FY23 & H1FY23 it has reported superb numbers. For Q2FY23, BBL posted 474%
higher PAT of Rs.4.65 crore as against Rs.0.81 crore in Q2FY22 on higher income of Rs.61.75
crore fetching an EPS of Rs.12.16. For H1FY23, it posted 273% higher PAT of Rs.6.75 crore as
against PAT of Rs.1.81 crore in H1FY22 on higher income of Rs.115.66 crore and an EPS of
Rs.17.64.
At CMP, BBL trades at P/E ratio of 24.1x. It paid 80% dividend for FY22.
Investors can watch this stock with a stop loss of Rs.400.It may give
very good returns in medium to long term.
Cont...
Financial Weekly TM

December 2022 31
Dark Horse-2
IND-SWIFT LABORATORIES LTD

(532305 & NSE) (64.05) (Face Value Rs.10)
Headquartered in Chandigarh, India, Particulars 6 Months Ended
Ind-Swift Laboratories Ltd today is a glo- H1FY23 H1FY22
bal manufacture of APIs, Intermediates Sales 590.38 485.45
PBT 46.05 44.12
and formulations (through group collabo-
PAT 45.12 43.27
ration). With regulated 6+ manufacturing
sites in Punjab and Jammu we cater to the API needs of regulated markets including USFDA,
EDQM, PMDA, ANVISA, EU-GMP, KFDA, NMO, ANSM, Cofepris, TGA, WHO, ROW. Today, Ind-
Swift Laboratories Ltd is a significant player in manufacturing APIs towards Cardiovascular health,
Antihistamine, Antidiabetic, Antipsychotic, Antimigraine, Parkinson's Disease, Antineoplastic, ADHD
Symptoms, Analgesics, Alcohol Abstinence andBone Resorption Inhibitor. Company also holds
global leadership positions in the Macrolide Antibiotic segment. It caters to the requirement
ofcustomers in 70 nations. 75% of its turnover comes fromexports and more than 55% of its
turnovercomes from Regulated Markets.
With an equity capital of Rs.59.81 crore and reserves of Rs.586.39 crore, ISLL's share book
value works out to Rs.109& stock traded at P/BV of just 0.59x. The promoters hold 42.01%, Other
DIIs hold 19.49% of the equity capital which leaves 38.51% stake with the investing public.
For Q2FY23, ISLL reported higher PAT of Rs.25.34 crore as against PAT of Rs.24.47 crore on
higher sales of Rs.310.21 crore and an EPS of Rs.4.29. During H1FY23, it reported higher PAT of
Rs.45.12 crore as against PAT of Rs.43.27 crore on higher sales of Rs.590.38 crore and an EPS of
Rs.7.65.
Investors can watch this stock with a stop loss of

Rs.52. It may give very good returns in medium to long
term.
Financial Weekly TM

December 2022 32
- Parag Salot
Technical Trading Trends (SEBI Registered Research Analyst)
M. : 91-9930011789
Nifty Overview : In Last Trading Session, Nifty closed at 18646. Nifty is currently at
its resistance and may now find difficult to go up further. If there is sudden and good up move
then there will be new range else there would be selling pressure at higher levels. Based on
intra-day charts, we need to trade. Nifty next resistance is at 18800 and support is down at
17600 levels.
Bank Nifty Overview : In Last Trading Session, Bank Nifty close at 43291. Bank Nifty
is at resistance and may find difficult to move up further. Bank Nifty support is at 40850.
Ideal situation is to sell at rise but all depends upon formation of intra-day charts.
Trading Results
Scrip Name BSE Code Buy / Enter at Did High/ Remarks
Sell Low
BHEL 500103 Buy 70 83 Target Achieved
IBulsHSgFin 535789 Buy 122.50 140.65 Target Achieved
Intellect 538835 Buy 435.30 457.50 Target Achieved
RBL Bank 540065 Buy 140 153.35 Target 1 Achieved
Trading Buy
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Aarti Ind 524208 669 650/655 670 690 635
Glenmark 532296 430.45 415/420 435 455 404
IEX 540750 152.40 140/145 155 175 133
Intellect 538835 448.90 435/440 455 475 424
Metropolis 542650 1460 1405/1420 1465 1515 1365
PEL 500302 827 795/805 825 845 785
Trading Sell
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Adani Ent 512599 3928 4100/4130 4000 3900 4190
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 TM

December 2022 33
Hi Tech Pipes Ltd
PIPING PROFITS FOR INVESTORS
BSE: 543411 • NSE: HITECH • CMP: Rs 799
Corporate
Feature
Hi-Tech Pipes Limited (HTPL)one of India's
leading ERW pipe manufacturers and suppliers,in
its board meeting has approved 57 lakh fully con-
vertible equity warrants at an issue price of Rs 692
The shares of Hi-Tech Pipes have been seen
per warrant which can be converted into one eq- rallying in the past five trading sessions. The
uity share, if the owner exercises the right for the shares hit a 52-week high of Rs 816.35 per share
same. The company will issue these warrants to on BSE. The shares of this company have soared
promoters, non-promoters investors including
qualified institutional buyers (QIBs), subject to ap-
more than 25 per cent in just five trading ses-
proval of shareholders. The company's board has sions, meaning to say that an investment of Rs 1
also decided to issue three lakh equity shares with lakh made five days ago would have generated Rs
a face value of Rs 10 on a preferential basis, each 25,000 profit today. It generated returns of
to non-promoter's investors, which will be deter-
nearly 53 per cent in a just six months.
mined by the board.
Hi Tech Pipes are engaged in themanufacturing
of a wide range of steel tubes and pipes. Its prod-
uct finds application in a wide range of industries
such as infrastructure, telecom, defence, power
distribution, railways, airport, real estate, automo-
bile and agriculture, among others.
Being a research driven piping company, trans-
formation into a research-led piping solution pro- ANALYST'S PROJECTIONS
vider is an example of how investing in the tech-
SHORT TERM: Rs.1100 • POSITIONAL: Rs.1500
nology of tomorrow is being done. This research-
based approach helped in periodically introduce
innovative product lines, enabled it to shrink pro- The company's clients include leading Blue
cess time, process predictability, and strengthen Chip corporates including Adani Group, Tata,
cost efficiency - the basis of business NTPC, AFCONS, AshokLeyland, etc
sustainability.
The Company manufactures diverse products
like pipes, coils, sheets & strips and engineered products across its five facili-
ties. It derives this ability from a core competence covering the management
of diverse processes (name a few processes here).
The company has five state-of-the-art manufacturing units are spread
across the states of Uttar Pradesh, Andhra Pradesh, Maharashtra and Gujarat.
Hi- Tech Pipes Ltd has a state of art,ultra modern latest technology based
R & D facilities with latest equipment which helps the company to manufac-
ture world class products.Company has strengthened the quality of the prod-
ucts through prudent investments to improve procedural discipline, acquire
best-in-class certifications and implement mission-critical technologies.
***
Financial Weekly TM

December 2022 34
Smart Education - Yog Joshi
Technical Analysis
From
Basic to Advance
Currency Analysis
USDINR Technical Analysis
Hello Friends,
Hope you all are doing well...!!!
We discussed in our past week article that, chart formed the Head and Shoulder Candlestick
Pattern on the top, which is known as Trend reversal or Swing Reversal pattern
We also noticed the down fall in USDINR because of the effect of the Head and Shoulder Candle-
stick pattern.
Now looking on the current chart, it is observed that USD is showing weakness against INR and
forming Doji type or indecision candlestick pattern continuously from last one week which indicat-
ing the absent of the buying confidence for the USD against INR
USDINR Support and Resistance :

Looking on the chart for Support and Resistance level, for down side 80.4800 is the probable
support and looking on the upper resistance level, upper side 81.9400
will be the probable resistance level for the coming week.
Financial Weekly TM

December 2022 35
Terrific Shots - Dilip K. Shah
CE Info (Rs. 1189.00) (Code: 543425) :- Known as Map My India, the company had
come out with its IPO just some time back. It had issued shares at Rs. 1033 apiece. The shares had
surged to a high of Rs. 1918 and low of Rs. 1127. The company has a market cap of Rs. 6383
crore. Promoter holding in the company is 53.31%. FIIs and DIIs hold 5.57% and 5.07% stake
respectively. For the September quarter, the company’s income went up from Rs. 57 crore to Rs.
76 crore, while profit was flat at Rs. 25 crore. For the first half income, increased from Rs. 110 crore
to Rs. 141 crore and profit from Rs. 46 crore to Rs. 49 crore. Its equity is Rs. 11 crore and reserves
Rs. 488 crore. The stock is quoting near the 52-week lows after a sharp correction and can be
considered for investment in tranches.
Mayur Uniquoters (Rs. 453.00) (Code: 522249) :- The shares of this leather and
leather products company are listed in the A group. The shares touched a 52-week high of Rs. 635
and low of Rs. 319. Promoter holding is 59.11%. The company has come a long way since it was
established in 1994. Mayur Uniquoters is a leading producer of artificial leather in the country. It
has plants in MP and Rajasthan. It has started a PV coating plant with a capacity of 6 lakh linear
metres per month. Its products are used in automobiles, footwear, furnishings, and leather goods &
garments. It offers a range of products for the automotive industry including door trims, steering
wheel covers, gear boot, and knob covers, roof lining, sun visors, and hoods. Its clients include
Maruti Suzuki, Honda, Mahindra, Tata Motors, Nissan, Ford, Mercedes, etc. Its products are also
exported to several countries. For the September quarter, it reported income of Rs. 204.05 crore,
profit of Rs. 27.16 crore, and EPS of Rs. 6.18. The company is debt-free, and has Rs. 93 crore
investments in mutual funds and Rs. 20 crore in fixed deposits. The shares can be bought with a
target price of Rs. 500 in two to three quarters with a stop-loss of Rs. 325.
SBI Life (Rs. 1234.00) (Code: 540719) :- The A group listed shares touched a 52-
week high of Rs. 1340 and low of Rs. 1004. It has a market cap of Rs. 1,23,583 crore. The company
had issued shares at Rs. 700 apiece in its IPO in September 2017. Promoter SBI’s holding in the
insurance company is 55.46%, while DIIs and FIIs hold 15.65% and 24.33% stake respectively.
Public shareholding is very low. Its equity is Rs. 1000 crore and reserves Rs. 11,215 crore. For the
September quarter, its income increased from Rs. 25,636 crore to Rs. 27,717 crore, while profit
went up from Rs. 247 crore to Rs. 377 crore. For the first half of the year, income was Rs. 32,523
crore and profit was Rs. 640 crore. Insurance sector is poised for major growth over the coming
years. It is also attracting investment from domestic and International investors. The stock can be
kept on the watchlist and bought at declines. The stock is a part of the Nifty 50.
LIC (Rs. 627.00) (Code: 543526) :- The A group listed shares touched a 52-week high
of Rs. 920 and low of Rs. 588. LIC’s performance has been improving. For the second quarter,
premium income jumped 48% to Rs. 25,200 crore, while new business surged 132% to Rs. 3680
crore. The new business margin was up by 530 basis points to 14.6% in the first half. For the
quarter, the margin rose by another 160 basis points to 16.2%. Promoter holding in the company is
96.50%. Its equity is Rs. 6325 crore and reserves Rs. 4084 crore. For the September quarter,
income increased from Rs. 1,80,951 crore to Rs. 2,22,365 crore, while profit surged from Rs. 1433
crore to Rs. 15,952 crore. The share is a re-rating candidate. The target price is Rs. 870.
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 TM

December 2022 36
Sarvesh Ashok Trivedi
Stock Wave (Mumbai) (Mob) 09820728124
www.chartsanketstock.com
Important support for Index at 61600 and

Nifty Future at 18350
BSE Index (62293.64) :- It shows improvement from the bottom of 56147.27. It shows an
overbought position on a daily, weekly and monthly basis. On upward movement, beyond 62448 it
may go up to 62790, 63160 and 63530. On downward movement, 61800 and 61600 could be
important support levels.
Bank Nifty (43270.00) :- It shows an upward movement from the bottom of 37524.55. It
shows an overbought position on a daily, weekly, and monthly basis. On upward movement, be-
yond 43566 it may go up to 43950 and 43270. On downward movement, below 43140 it may go
down to 43090 with support at 42750.
Nifty Future (18512.75) :- It shows an upward movement from the bottom of 16764.25. It
shows an overbought position on a daily, weekly, and monthly basis. On upward movement, be-
yond 18668 it may go up to 18719, 18820 and 18925. On downward movement, below 18580 it
may get support at 18487 and 18350.
Apollo Hospital (4789.45) :- It shows improvement from the bottom of 4250. It shows an
overbought position on a daily basis, neutral on weekly basis and an overbought on monthly basis.
On upward movement, beyond 4485 it may go up to 4957, 5003, 5117, 5277 and 5437. On down-
ward movement, below 4795 it may get support at 4635 and 4614.
Godrej Consumer (859.35) :- It shows improvement from the bottom of 793.85. It shows
an overbought position on a daily basis, towards overbought on weekly basis and towards neutral
from overbought on monthly basis. On upward movement, beyond 868 it may go up to 873, 899,
928 and 958. On downward movement, support could be at 840.
PNB (53.60) :- It shows improvement from the bottom of 34.25. It shows an overbought posi-
tion on a daily, weekly and monthly basis. On upward movement, beyond 55 it may go up to 58 and
60 and in long run may go up to 70, 97, 125 and 150. On downward movement, support could be at
47. Book profit amid buy and sell.
Tech Mahindra (1080.15) :- It shows improvement from the bottom of 1005.25. It shows
the neutral position on a daily basis, overbought on weekly basis and neutral on monthly basis. On
upward movement, beyond 1080 it may go up to 1107, 1145, 1166 and 1220. On downward move-
ment, support could be at 1055.
UCO Bank (20.75) :- It shows an upward movement from the bottom of 11.50. It shows an
overbought position on a daily, weekly and monthly basis. On upward movement, beyond 22 it
may go up to 24, 27, 33, 47, 53, 60, and 71 in long term. On downward movement, support could be
at 18. Book profit amid buy and sell.
Disclosure : The Recommendations are based on technical analysis. There is a risk of loss in trading.
Golden quote :-
Start where you are, Use What you have, Do what you can
Financial Weekly TM

December 2022 37
Dilip Davda
e-mail Expert’s Eye
dilip_davda@rediffmail.com
November expiry ends on a bullish note

Another week of historic milestones
(Concluded week report):
After witnessing new recent highs in the previous week, we marked a surprising week of historic
milestones in which not only November 22 derivatives expiry end on a bullish note, but the week
also turned out to be a week of historic milestones for intraday and closing. While Sensex posted
an intraday new high of 62447.73, it also ended the closed at a historic high of 62293.64 and
following the footsteps of Sensex, NSE Nifty marked an intraday new high of 18534.90 and close
of 18512.75. This was though on expected lines, it surprised one and all as global trends and
economic data were not up to mark.
For the week, while BSE Sensex moved in the range of 62447.73-61059.33, NSE Nifty hovered
between 18534.90-18133.35.
For the week, Benchmarks posted weekly GAINs of 630.16 points for BSE Sensex and 205.10
points for NSE Nifty.
Weekly Movements of benchmarks
Monday- While BSE Sensex opened at 61456.33 and marked a high/low of 61456.33/61059.33
before ending the session at 61144.84 with a loss of 518.64 and NSE Nifty opened at 18246.40,
marked a high/low of 18262.30/18133.35 and finally ended the session at 18159.95 with a deficit
of 147.70 points. Though Mid and Small cap outperformed benchmarks, market breadth remained
negative. FIIs were net sellers and DIIs were net buyers.
BONUS ANNOUNCEMENT Tuesday- BSE Sensex opened at
Rama Steel (4 for 1), Naysaa Secur (15 for 10),
61126.56, marked a high/low of 61466.63/
EX-SPLIT RIGHTS ISSUE 61073.68, and ended at 61418.96 with a
Easy Trip (2 for 1), Adcon Capital (25 for 3)
Dev Info (2 for 1), score of 274.12 points and NSE Nifty started
Mafatlal Ind (5 for 1)
EX-BONUS at 18179.15, marked a high/low of 18261.85/
BONUS MEET Easy Trip (3 for 1), 18137.70 and closed at 18244.20 with a rise
Janus Corp (30.11.22), Commercial Syn (2 for 1),
KPI Green (30.11.22), Mah. Seamless (1 for 1), of 84.25 points. While the Mid Cap index out-
Navoday Enter (01.12.22) Veer Energy (3 for 10)
performed and the Small Cap index
DIVIDEND ANNOUNCEMENTS underperformed benchmarks, market
Guj Themis (88%), Milkfood (25%), Siemens (500%), etc. Cont...
Financial Weekly TM

December 2022 38
breadth remained negative. FIIs were the net sellers and DIIs were the net buyers.
Wednesday-BSE Sensex started the session at 61779.71, touched a high/low of 61780.90/
61442.69, and closed at 61510.58 with a mere gain of 91.62 points and mirroring the trends, NSE
Nifty opened at18325.20, marked a high/low of 18325.40/18246.00 and ended the session at
18267.25 with a score of just 23.05 points. As Mid and Small cap indices outperformed bench-
marks, market breadth remained marginally positive. FIIs continued to be the new sellers while
DIIs were the net sellers for the day.
Thursday - BSE Sensex opened the day at 61656.00, marking a high/low of 62412.33/61600.42
and closed at 62272.68 with a gain of 762.10 points and NSE Nifty started the session at 18326.10,
marking a high/low of 18529.70/18294.25, it ended the session at 18484.10 with a score of 216.85
points. However, market breadth remained positive despite Mid and Small cap indices
underperformed benchmarks as the side market improved with informed buying on fancy counters.
FIIs turned into net buyers while DIIs emerged as net sellers for the day.
Friday - BSE Sensex opened at 62327.88 touched a high/low of 62447.73/62115.66 and closed
at 62293.64 with a score of mere 20.96 points and NSE Nifty started the session at 18528.45,
marking a high/low of 18534.90/18445.10 and ended the session at 18512.75 with a gain of just
28.65 points. Market breadth turned positive as Mid and Small cap indices outperformed bench-
Cont...
Nifty & Sensex Movement during the week

Sensex Open High Low Close Diff
21-11-2022 61,456.33 61,456.33 61,059.33 61,144.84 -518.64
22-11-2022 61,126.56 61,466.63 61,073.68 61,418.96 274.12
23-11-2022 61,779.71 61,780.90 61,442.69 61,510.58 91.62
24-11-2022 61,656.00 62,412.33 61,600.42 62,272.68 762.10
25-11-2022 62,327.88 62,447.73 62,115.66 62,293.64 20.96
Net Weekly Gain 630.16
NSE - Nifty Open High Low Close Diff
21-Nov-22 18246.4 18262.3 18133.35 18159.95 -147.7
22-Nov-22 18179.15 18261.85 18137.7 18244.2 84.25
23-Nov-22 18325.2 18325.4 18246 18267.25 23.05
24-Nov-22 18326.1 18529.7 18294.25 18484.1 216.85
25-Nov-22 18528.45 18534.9 18445.1 18512.75 28.65
Net Weekly Gain 205.1
Financial Weekly TM

December 2022 39
marks. FIIs remained net buyers and DIIs were the net sellers for the day.
The week ahead :- Brent crude further eased to quote below85$ a barrel but the Rupee hov-
ered around 81.70 a dollar by the weekend.For the ensuing week, we have around 50 corporate
meets. It's high time to trade with alertness. The market will have on radar November despatch
data for the cement and auto sector, global economic data, and the progress of elections in four
states. We are entering the final month of CY2022 which will have highly volatile trades.
Amidst such a scenario, BSE Sensex may move in the range of 63250 - 61250, and NSE Nifty
between 19000-18000
DISCLAIMER : No financial information whatsoever published anywhere here should be con-
strued as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter
published here is purely for educational and information purposes only and under no circumstances
should be used for making investment decisions. Readers must consult a qualified financial advi-
sor before making any actual investment decisions, based on the information published here. Any
reader taking decisions based on any information published here does so entirely at its own risk.
Investors should bear in mind that any investment in stock markets is subject to unpredictable
market-related risks. The above information is based on RHP and other documents available as of
date coupled with market perception. The author has no plans to invest in this offer.
(SEBI registered Research Analyst-Mumbai).
BUY.... BUY....BUY TIPS OF THE WEEK

Co. Name Code Price Co. Name Code Price
PNB 532661 53.00 Balkrishna Ind 502355 2027.00
Texmaco 533326 58.00 HDFC Life 540777 586.000
Sadbhav Engg. 532710 13.00 Mah.Seamless 500265 387.00
Rail Vikas 542649 73.00 PB Fintech 543390 460.00
BHEL 500103 81.00 L&T 500510 2062.00
Precision Wire 523539 105.00 Hero Moto 500182 2707.00
REC 532955 108.00 HAL 541154 2730.00
Redington 532805 178.00 Power Mech 539302 2135.00
Gabriel 505714 182.00 Sheela Foam 540203 2674.00
CG Power 500093 281.00 Escorts 500495 2288.00
GSPL 532702 279.00 Infosys 500209 1630.00
Apollo Tyre 500877 293.00 ACC 500410 2503.00
Aegis Logi 500003 336.00 ION Ex. 500214 2618.00
GE Shipping 500620 666.00 Atul 500027 8186.00
Motherson Sumi 517334 73.00 JK Cement 532644 3014.00
Financial Weekly TM

December 2022 40
Kishore Purswani
(Email: kishore.purswani@gmail.com)
Learn & Earn-VII

(The Basics of Investing- Mutual Funds)
Introduction :- In the previous articles in this series we had concluded that it is

advantageous to invest in stocks and continue to hold the stocks as long as the companies in
which one has taken a stake are doing well. The next important thing one has to decide is to pick
one's own stocks or let someone else do the job for him/her. If one is interested in reading, under-
standing and analysing numbers and is ready to spend some time and energy on researching the
companies then only one should pick the stocks directly else otherwise one should invest in mu-
tual funds.
Mutual funds :- A mutual fund scheme, as the name suggests, is a shared fund that
collects money from multiple investors and invests the collected corpus in shares of listed compa-
nies, government bonds, corporate bonds, short-term money-market instruments, other securities
or assets, or a combination of these. Mutual fund is generally managed by a professional Fund
Manager.
The biggest advantage of investing in stocks through mutual funds is that there's an expert who
manages the fund and another advantage is that it invests in many companies at once and thus
helps in meeting the requirements of diversification and minimising risks. One of the other benefits
of mutual funds is the option to invest via a Systematic Investment Plan (SIP). Besides the advan-
tages of diversification SIPs in mutual funds also provides the benefits of averagingcosts. Inves-
tors can look for options to invest in schemes with a minimum investment of ? 100.The best part of
investing through SIP route is that one need not to bother about the daily movement of markets.
However Mutual Fund Schemes are not guaranteed or assured return products. Investment in
Mutual Fund Units like stocks involves investment risks including the possible loss of
principal.Professional management of a fund by a team of experts does not insulate from bad
performance of the fund.It may appear to be easy but picking a right mutual fund is also an art and
involves lot of efforts as there are as many as 44 AMFI (Association of Mutual Funds in India)
registered fund houses in India which together offer more than 2,500 mutual fund schemes. There
Cont...
Financial Weekly TM

December 2022 41
are various type of funds which include equity funds, debt funds, hybrid funds etc. Amongst equity
again there mid cap, small cap, large cap, index funds etc. The wide range and type of funds often
make it a little difficult for investors to choose the best scheme for them and other disadvantages
associated with investment in mutual funds include high fees and expenses, fluctuating returns,
over-diversification etc.
Fund History :- The earliest mutual fund on record was started in 1852 by King
William I of Netherlands. The Mutual Fund industry in India started in 1963 with formation of UTI in
1963 by an Act of Parliament and functioned under the Regulatory and administrative control of the
Reserve Bank of India.The first scheme launched by UTI was Unit Scheme 1964. 1987 marked the
entry of non-UTI, public sector mutual funds set up by public sector banks and Life Insurance
Corporation of India (LIC) and General Insurance Corporation of India (GIC). SBI Mutual Fund was
the first non-UTI Mutual Fund established in June 1987 followed by many other public sector banks.
Investor interest and participation in Mutual funds has continuously grown over the years since
launch of first scheme in 1964. The industry has seen ups and downs but with revival of stock
markets in 1980s and participation of public sector banks in late 80s and private sector banks in
early 90s the mutual fund industry has also grown.The AUM (Assets under Management) of the
Indian MF Industry has grown from ? 7.68 trillion as on October 31, 2012 to ?39.50 trillion as on
October 31, 2022 more than 5 fold increase in a span of 10 years.
Conclusion :- Investment in stocks through mutual funds is one of the best options for
new investors and for those investors who either do not have time to put in or don't have the right
skills. Past performance of fund is not a guarantee of future performance as the fund manager who
had delivered could have left the fund house or the environment would have changed. As such
one needs to seek professional advice in selection of type of funds and then make a basket of
specific funds.
Happy investing!
Kishore Purswani
M No 9425604104, Mail id: kishore.purswani@gmail.com

Financial Weekly TM

December 2022 42
Scrip Watch - Siddharth Shah
Tube Investments (Rs. 2588.00) (Code : 540762) : TII’s performance was driven
by benefit of cost pass-through and currency-related benefits, despite lower revenue. The traction
in revenue is expected to continue, led by a recovery in underlying Auto volumes. Meanwhile, the
company has acquired a 50 per cent stake in X2Fuels and Energy, an early-stage start-up incu-
bated at the National Centre for Combustion Research and Development (NCCRD) at IIT Madras.
The acquisition would be by subscribing to 10,753 equity shares for a total consideration of Rs
6.15 crore. X2Fuels and Energy endeavors to develop and deploy thermochemical technologies
for the conversion of any solid feedstock such as lignocellulosic agri-residues, plastics, bio-or-
ganic wastes and municipal solid wastes into storable liquid and solid fuels, which can potentially
be integrated within a refinery infrastructure. Invest.
Raymond (Rs. 1322.00) (Code : 500330) : Diversified group Raymond Ltd reported
over a two-fold jump in its consolidated net profit to Rs 161.95 crore for the second quarter ended
September 30 on improved growth across its business segments. The company had posted a net
profit of Rs 56.15 crore during the July-September quarter of the previous fiscal. Its revenue from
operations rose 39.76 per cent to Rs 2,168.24 crore from Rs 1,551.32 crore. The company oper-
ates in the textile and apparel sector and other segments like consumer care, realty and engineer-
ing. Its B2C businesses continue to grow during the July-September quarter, while the garment
export business showed resilience and the order book remained healthy from the US and Europe
markets. Buy.
Coromandel International (Rs. 920.00) (Code : 506395) : Agro-solutions pro-
vider Coromandel International is gaining market share in fertilisers; backward integration to fur-
ther strengthen position CPC, specialty and organic segments to drive growth. The government is
preferring balanced nutrition for soil and avoiding excessive urea usage, thus promoting non-urea
complex fertilisers. It posted a net profit of Rs738 crore in Q2 as against Rs520 crore in the compa-
rable quarter last year, showing a growth of 42 per cent. The total income of the company stood at
Rs10,140 crore in the quarter as against Rs6,160 crore in Q2 FY22, registering a growth of 65 per
cent. During the quarter, the company launched liquid fertiliser ‘Acumist Calcium’, a Speciality
Nutrient product. The 4 new products launched in the Crop Protection business in Q1 have re-
ceived encouraging response from the market. During the year, the Crop Protection business has
received 5 patent registrations for novel combinations developed by our R&D team. Buy in phased
manner.
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
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 TM

December 2022 43
Market Tips - Het Zaveri
Vedant Fashions (Rs. 1388.00) (Code : 543463) : Incorporated in 2002, Vedant

Fashions has built a multi-channel network across the country. The company is a category leader
in the branded wedding and celebration wear market under its flagship brand Manyavar, accord-
ing to CRISIL Research. It houses five more brands—Mohey, Mebaz, Manthan and Twamev. Vedant
Fashions has also expanded its footprint over the last five years. The company has an extensive
retail network with more than 550 exclusive brand outlets (EBOs), including more than 60 shop-in-
shops globally, including thaose in United States, Canada and the UAE. The company came out
with an IPO in last February. Issue price was Rs.866 and now the stock is trading at 1388. The
stock looks expensive but as copared to other peers, the stock looks a good bet in an attractive and
demanding sector. Buy.
ACC (Rs. 2503.00) (Code : 500410) : Ambuja Cements has released the existing
pledge of 50.05 percent shareholding in its subsidiary ACC as of November 19. Ambuja's stake
now stands reduced to 2.16 per cent from 52.21 per cent earlier. Ambuja Cement - an entity con-
trolled by Gautam Adani-led Adani group - pledged the shareholding as 'collateral for loans taken
by the company'. The company pledged its total 9.39 crore shares of ACC Ltd. on September 26.
Given the government's focus on infrastructure spending and affordable housing, the cement sector's
long-term growth potential continues to remain healthy. Demand revival is imminent, especially
during the festive season, and the January-March peak construction period. Buy.
Tata Consumer Products (Rs. 788.00) (Code : 500800) : Bisleri, which has
divested around three decades in the manufacture and processing of renowned soft drink brands
like ThumsUp, gold Spot, Limca, and Coco cola, has finally shifted to the sale of its stakes to Tata
Consumer Products Ltd (TCPL). The stakes were worth about Rs6000 to Rs7000 crore. The deal
mentioned that the current management would take control of the company for two years. Ramesh
Chauhan, 82, ailing in the present moment, has said that he has no successors to take Bisleri to
the next level of expansion. His daughter is not much interested in the business. The Tata group
has made Bisleri an offer to buy a stake in the biggest packaged water company in India. The three
firm executives working there are already aware of the offer. Given that Bisleri has established
itself as a major brand over the years, the acquisition would lead Tata to a significant presence in
packaged drinking water on a variety of levels. Buty.
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 TM

December 2022 44
SMART TIPS Smita N. Zaveri
GSPL (Rs. 279.00) (Code: 532702) :- The shares of this A group listed company
touched a 52-week high of Rs. 332 and a low of Rs. 209. Gujarat State Petronet Limited has a
presence in the entire energy value chain and is engaged in gas transmission, CGD, power gen-
eration, and IT. It is a pioneer in establishing gas transportation infrastructure and connecting gas
sources to customers. The company has an extensive presence across Gujarat with a network of
more than 2,700 km. It is exerting projects in partnership with IOCL, BPCL, and HPCL. Its clients
include refineries, steel plants, fertiliser units, power plants, textiles and chemical units. GSPL’s
market cap is Rs. 14,694 crore. Its equity is Rs. 564 crore and reserves Rs. 7354 crore. The share
is trading at eight times the estimated earnings of Rs. 28 and is attractively valued. For the Septem-
ber quarter, its income went up from Rs. 4181 crore to Rs. 4467 crore, while profit increased from
Rs. 490 crore to Rs. 621 crore.
RailTel Corporation (Rs. 139.00) (Code: 543265) :- The company had come out
with its Rs. 819 crore IPO last year and issued shares at Rs. 89 per share. The stock was listed at
Rs. 109 and it surged to Rs. 190 subsequently. The A group listed shares have since corrected.
The 52-week high was Rs. 146 and low Rs. 84. The company has a market cap of Rs. 4409 crore.
Promoter holding is 72.84%. DIIs hold 4.77% stake. Its equity is Rs. 321 crore and reserves Rs.
1266 crore. For the September quarter, income increased from Rs. 358 crore to Rs. 429 crore,
operating profit fell from Rs. 110 crore to Rs. 100 crore, and profit declined from Rs. 68 crore to Rs.
55 crore. Strong moves are being seen in railway related stocks. Strong buying has also been
seen in the stock. The stock is trading at a P/E multiple of 22 and can deliver very good returns in
3-4 quarters.
JK Tyre (Rs. 170.00) (Code: 530007) :- Shares of this A group listed company have
face value of Rs. 2. The shares touched a 52-week high of Rs. 197 and low of Rs. 95. Promoter
holding in the company is 56.26%. The J group company is a leading tyre manufacturer and has
three plants in Mysore, and one plant at Bangalore, Chennai, and Kankroli. It is the leading pro-
ducer of bus tyres in the country. Strong demand for commercial vehicles is seen having a positive
impact on its performance. Its market cap is Rs. 4189 crore. For the September quarter, its income
increased from Rs. 2997 crore to Rs. 3764 crore, while profit declined from Rs. 64 crore to Rs. 48
crore. ICICI Direct has given a hold rating with a target price of Rs. 180.
Greaves Cotton (Rs. 147.00) (Code: 501455) :- The shares of this diesel engine
company are listed in the A group. The shares touched a 52-week high of Rs. 258 and low of Rs.
129. The company has presence in diverse businesses such as automobile, electric, retail, mobil-
ity, and finance. The share of new businesses has increased to 49% and that of diesel engine
business to 48%. The electric vehicle business is expected to do very well going ahead. In 2021-
22, electric vehicles accounted for 38% of its business. Promoter holding in the company is 55.55%.
Its equity is Rs. 46 crore and reserves Rs. 697 crore. For the September quarter, income surged
from Rs. 379 crore to Rs. 713 crore. It reported profit of Rs. 33 crore as against loss of Rs. 23 crore
last year. The diversifying businesses means lower dependence on diesel engine business and
less risk. 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 25th November, 2022
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 TM

December 2022 45
Smart super duper - Het Zaveri
R Systems (Rs. 253.00) (Code: 532735) :-As against equity of Rs. 12 crore, the
company has reserves of Rs. 478 crore. In September quarter, the company's income increased
from Rs. 306 crore to Rs. 398 crore, while operating profit increased from Rs. 49 crore to Rs. 54
crore and net profit decreased from Rs. 38 crore to Rs. 37 crore. Recently, Blackstone has ac-
quired 52% stake of the promoters at Rs. 245 a share and is planning an open offer at Rs. 246 a
share. Therefore, the open offer is not likely to succeed. As a result, the buy back price may go up
or the company remain listed as an MNC. In both the situation, the investors will be benefitted.
Therefore, the investors should stay invested in this company.
Aptus Value (Rs. 312.00) (Code: 543335) :- It is a small size housing finance com-
pany, which provides finance in affordable housing finance segment. It provides services in states
like Tamil Nadu, Puducherry, Andhra Pradesh, Karnataka, Telangana and Odisha through 213
branches. In the September quarter, the company's income increased from Rs. 197 crore to Rs.
268 crore, while profit increased from Rs. 85 crore to Rs. 123 crore. Following strong 2nd quarter
results, strong commentary has been received from the management and the company's perfor-
mance may be robust in the second half of the year.
Kabra Extrusion (Rs. 508.00) (Code: 524109) :-KabraExtrusiontechnik (KET) is a
part of renowned Kolsite Group. With over 6 decades of experience, more than 14,463 installations
and presence in more than 92 countries in the Americas, Middle East, Asia and Africa. KET enjoys
a leadership position in the extrusion market. It provides high-performance extrusion solutions for
the manufacturing of pipes and films. It owns two manufacturing plants at Daman, it also plans
battery packs and battery management system plants at Chakan near Pune. The sector's future
seems very bright because the government is quite serious about electrical vehicles. It sells bat-
tery packs and battery management service products under BATTRIXX brand. As against equity of
just Rs. 15.95 crore, the company has reserves of Rs. 321 crore. In the first six months of FY2023,
the company's income was Rs. 285 core, operating profit was Rs. 29 crore and net profit was Rs.
14 crore. The stock has been witnessing re-rating.
UPL (Rs. 776.00) (Code: 512070) :- It was earlier known as United Phosphorous. It is
a reputed name in generic crop protection, chemicals and seeds management. It has taken over a
foreign company called Arista. It has a presence in 123 countries, 27 forumulation facilities and 48
manufacturing facilities across the globe. It boasts of 1023 product patents and more than 13500
product registrations. The company's equity is Rs. 150 crore. In the September quarter, the
company's income increased from Rs. 10567 crore to Rs. 12507 crore, while profit increased from
Rs. 774 crore to Rs. 969 crore. The company's operating profit increased from Rs. 1931 crore to
Rs. 2417 crore.
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
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 TM

December 2022 46
Di wan-E-Khas A.J. Diwan (Mumbai)
E-mail : divanconsultancy@rediffmail.com
Run after good stocks

On last Thursday nifty intraday closed all time high of 18484. US economy may not go for reces-
sion is new belief of one school of thought. If fed decided to increased rate, it may be 50 basis point.
Index on last Thursday closed 62272. If trend continues we may see 18600 in few days for nifty.
This uptrend credit deserves by banking and IT shares. Good corporate results may add fuel in
bullish trend.
In our Diwali issue we had recommended Balrampur chini. Today share is at 365. Buy with SL
of 357 for target price of 380/85. Genus power is quoted around 90 the upside target of 95/96.buy
with SL of 85/86. Tata consumer is recommended all rounds. The company is eyeing Bislari plant
buy investing 600/700 cr. The board meeting is in December. Last Thursday share has gone up
and touched Rs. 793. Buy with sl at 775 for target price of 810/815.
Pay TM is not expected to go up. Cut your loss by converting it to newly listed Balaji. Balaji has
restaurants plus big name in package d food.
Delta cop is not going up on day when index surged by 700 points. In the month of December
more tourists expected in GOA share price noticing above 226 and not breaking 214 on closing
basis.
SBI once in cash goes up to 614 or so, buy December 605. This expected to give profit of 1500
to 2000
DLF not able to close above 399/400. So short on rise with that SL. South bank short for intraday
around 15.3/50. Margin is small so 3 to 4 thousand shares can be traded.
Financial Weekly
Every Sunday Every Wednesday
English & Gujarati Edition Gujarati Edition

Financial Weekly TM

December 2022 47
Investment Ideas Nayan Patel
INDIABULLS HOUSING FINANCE LTD

(535789 & NSE) (138.10) (Face Value: Rs.2)
Indiabulls Housing Finance Ltd is the third largest housing finance company in the coun-
try. A technology focused organization that introduced India to its very first end-to-end digital
home loan technology platform, Companyis proud to have been of service to more than 1.2
million happy home owners across thecountry, and have collectively disbursed loans of over
Rs.2.94 lakh Crores. Company pride themselves in being able to provide its customers with
smart solutions and rich experiences through its 4,600+ employees operating across its
nationwide network of 151 branches, 8,000+ channel
partners, and its pioneering digital platforms that offer customized solutions and round-
the-clockservice to its customers. Its balance sheet size is more than Rs.82,000 crore and
loan asset is more than Rs.72,000 crore.
With an equity capital of Rs.90 crore and reserves of Rs.16838 crore, IBFL's share book
value works out to Rs.359& stock traded at P/BV of just 0.38x.
For H1FY23, it recorded PAT of Rs.576.12 crore on income of Rs.4304.99 crore fetching
an EPS of Rs.12.85. At CMP, stock is trading at P/E ratio of just 5.5x.During the crisis time,
it has never posted loss in a single quarter. Now with the processional management now
company is ready for stable growth and stock is looking under valued at CMP. Investors can
watch this stock with a stop loss of Rs.110.
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 pur-
chases 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 TM

December 2022 48
Primary Market - Dilip K. Shah
When Indian Share Markets are creating records in November, shares of New Age Companies are hitting bottoms
The New Age Compnaies that entered that merket in last one and a half year has eroded investors' wealth by Rs. 2 lakh crore
New IPO approvals get delayed as SEBI has become more vigilant after flopshow of New Age Companies
This week five Issues including 2 mainboard, 2 NSE SME and 1 Rights Issues are in the market
Kaynes Techno has given huge premiums of 32% and Archean Chemicals listed with 12% premiums
Dharmaj Corp's IPO will open on November 28
Absence of reputed funds and institutes in Anchor Investors category a cause of concern
Uniparts OFS IPO with offer price of Rs. 548-577 will open on November 30
Considering fancy among investors it may get listed with a bang
PritikaEng's NSE SME IPO will close on November 30: 2.84x subscription on 1st day
BahetiRecyling's NSE SME IPO with fixed price of Rs. 45 will open on Novem-
ber 28: Robust response and huge premiums on listing expected
Indian Share Markets are creating a new record everyday and Nifty is just 45-50 points
away from all time high. On the other hand, the new age company shares have hit the bottom
eroding wealth of the investors. Investors' wealth of around Rs. 2 lakh crore have been
eroded by these new age companies. PayTM's market value has gone down by Rs. 69000
crore, has the share price has gone down by 16% from the offer price of Rs. 2150. Naykaa
has lost Rs. 51000 crore and Zomato has lost Rs. 41000 crore in its market value. Shares of
Policy Bazaar and CarTrade have gone down by 69% and 65% respectively.
Grey Market Premium / Kostak / Subject to Prices

IPOs Name Lot Size Offer Price Premium Kostak Price Subject to
Name (Shares) (Rs.) (Rs.) *Min. Appl. Sauda
MAIN BOARD IPOs

Main Board IPO
Dharmaj Crop (Rs. 14,220) 60 216 to 237 55 to 57 N.A. N.A.
(H : 85)
Small HNI (Rs. 2,13,300) 900 -- -- --
Big HNI (Rs. 10,09,620) 4260 -- -- --
Uniparts India (Rs. 14,425) 25 548 to 577 120 to 125 450 2,500
(H : 195)
Small HNI (Rs. 2,01,950) 350 -- -- 20,000
Big HNI (Rs. 10,09,750) 1750 -- 6700 20,000
SME IPOs
Ambo Agritech (Rs. 1,20,000) 4000 30.00 14 to 15 -- 45,000
Pritika Engg. (Rs. 1,16,000) 4000 29.00 6 to 7 -- --
Baheti Recycling (Rs. 1,35,000) 3000 45.00 23 to 25 -- 50,000
Don't subscribe IPO only on the basis of Grey premium. Before Investing check the fundamentals of IPO
Cont...
Financial Weekly TM

December 2022 49
Main - line IPO (Non SME)
Sr Company Issue Open Dt. Issue size Offer price Min. Listing Lead Manager Rating Remark
Issue Close Dt. (Rs. Cr.) (Rs.) App. (Out of 50)
1 Dharmaj 28-11-2022 1,05,96,924 Shares 216 to 237 60 Shares BSE Elara Capital (India) Pvt. Ltd. 32%
Crop Guard to (Rs. 251.15 Cr.) (F.V.Rs.10) (Rs. 14,220) NSE Monarch Networth Capital Apply for
30-11-2022 Fresh Issue Rs. : 216 Cr. Registrar : Link Intime India Medium Term
OFS : Rs. 35.15 Cr.
2 Uniparts 30-11-2020 1,44,81,942 Shares 548 to 577 25 Shares BSE Axis Bank, DAM Capital, 36%
India 2-12-2022 (Rs. 835.61 Cr.) (F.V.Rs.10) (Rs.14,425) NSE JM Financial, Attractive
Totally OFS Registrar : Link Intime India (Listing Gain)
SEBI has become more vigilant after flop show of New Age Cos:- SEBI is taking more
time to grant approval for IPOs as it has implemented the stringent rules for IPO. In Calendar
Year 2022, IPO approval was granted by SEBI after 115 days after filling the papers for
issue, which is the highest in last eight years. Average 75 days were taken in 2021 and 76
days in 2020. In last two years, SEBI take less than 100 days for granting approval for IPO.
* Last week's IPO Listing:-
• Mainboard IPOs:-
Fivestar Business Finance (543663) :- The issue with offer price of Rs. 474 listed on
November 21 with 4% discount at Rs. 449.95 but went up to Rs. 539.90 and down to Rs.
Erode over Rs. 2 Lakh Crore in

Calendar Day No. of
Days IPOs Investors Wealth Since Listing Days taken for approval
taken NewAge Listing Loss in %dropp
2014 117 17
Companies Date M.Cap in M.Cap
of Big Bang IPOs
for 2015 89 45
Since since
Co. Issue Size Days
2016 87 30 LIC 20557 22
Calen- 2017 75 49
Listing Listing
Adhar Housing 7300 466
dar Nykaa 9-11-21 -51,468.52 -49.34
2018 97 86 API Holdings 6250 99
Delhivery 23-5-22 -12,174.79 -31.33
IPO 2019 89 26
PayTM 17-11-21 -66,169.03 -65.40
Delhivery 5235 72
2020 76 22 Bharat FIH 5000 168
ap- 2021 75 92
Policy Bazar 15-11-21 -37,277.02 -68.98
Mcleod Pharma 5000 94
proval Zomato 23-7-21 -40,911.20 -41.39
2022 115 72
CarTRade Tech 20-8-21 -4,568.41 -66.40
Listing Information of Main Line IPOs

Co. Name BSE Listing Offer Listing Listing Listing Listing CMP
Code Date Price Price Day Day Day 24th
(Rs.) (Rs.) High Low Close Nov.
Five Star Business Fin. 543663 21-11-22 474 449.95 539.90 448.20 489.50 512.25
Archean Chemical 543657 21-11-22 407 449.00 476.05 440.05 457.95 532.75
Kaynes Technology 543664 22-11-22 587 775.00 787.00 675.00 690.10 745.05
INOX Green Energy 543667 23-11-22 65 60.50 63.95 58.50 59.10 62.30
Keystone Realtors 543669 24-11-22 541 555 568.25 555.00 557.80 567.45
Cont...
Financial Weekly TM

December 2022 50
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. Pritika 25-11-2022 32,48,000 Eq. 29 4000 Eq. Shares GYR Capital 30% RISKY
Engg. 30-11-2022 (Rs. 9.42 Cr.) (Rs. 1,16,000) (may apply)
2. Baheti 28-11-2022 27,60,000 Eq. 45 3000 Eq. Shares Hem Sec. 34% Apply for
Short Term
Recycling 30-11-2022 (Rs. 12.42 Cr.) (Rs. 1,35,000) (Listing Gain)
Tentative Timetable for SME & Main Line IPOs

IPOs Name Issue Basis Refund/ Credit of Listing
Closes of Unblock Shares Date
Date Allotment Amount to Demat
Main Line IPOs

Dharmaj Crop Guard IPO 30-11-22 5-12-22 6-12-22 6-12-22 8-12-22
Uniparts India IPO 2-12-22 7-12-22 8-12-22 9-12-22 12-12-22
SME IPOs
AMBO Agritec BSE SME 24-11-22 29-11-22 30-11-22 1-12-22 2-12-22
Pritika Engineering NSE SME 30-11-22 5-12-22 6-12-22 7-12-22 8-12-22
Baheti Recycling NSE SME 30-11-22 5-12-22 6-12-22 7-12-22 8-12-22
Subscription Figures of SME IPO (Dt. 25-11-2022)

IPO Listing Day Subscribed
Ambo Agritec BSE SME Issue Closed on 24-11-22 336.75x
Pritika Engg. NSE SME 1st Day Subscribed 2.84x
Baheti Recycling NSE SME Issue Opens on 28-11-2022 --
448.20 before closing with 9% premiums at Rs. 481.50. Book profit at every spurt.
Archean Chemical (543657) :- The issue with offer price of Rs. 407 listed on November
21 with 12.5% premiums at Rs. 449 and went up to Rs. 476 and down to Rs. 440.05 before
closing with 11% premiums at Rs. 457.95. The investors holding the shares may get better
returns.
Kaynes Technology (543664) :- The issue with offer price of Rs. 587 listed on November
22 with 32% premiums at Rs. 775 and went up to Rs. 787 and down to Rs. 675 before closing
at Rs. 690.10. Hold the shares.
INOX Green Energy (543667) :- The issue with offer price of Rs. 65 listed on November
23 with 7% discount at Rs. 60.50 and went up to Rs. 63.95 and down to Rs. 58.50 before
closing at Rs. 59.10. t closed at Rs. 62.30 on November 24.
Cont...
Financial Weekly TM

December 2022 51
Rights Issue
Sr Company Issue Open Dt. Issue size Offer price Ratio & Listing Lead Manager / Recomm.
Issue Close Dt. (Rs. Cr.) (Rs.) Record Dt. Registrar
1. Trans 15-11-2022 2,44,60,568 10 1 Shares for every NSE Fedex Sec.
warranty 29-11-2022 Shares (F.V.Rs.10) 1 Share heald on BSE Clear Avoid
Finance (Rs.24.46 Cr.) 4-11-2022
2. Compuage 23-11-22 2,07,92,258 20 8 Shares for every BSE Mark Corporate may apply
Infocom 2-12-22 Shares (F.V.Rs.2) 25 Share heald on NSE Registrar :
(Rs. 41.58 Cr.) 14-11-22 Link Intime
3 Integra 1-12-22 7,13,51,144 7 37 Shares for every BSE -- Next Week
Essentia 14-12-22 (Rs. 49.95 Cr.) (F.V. Rs.1) 200 Eq. Shares held NSE
Record Dt. 17-11-22
4. Rungta 9-12-2022 1,10,70,125 11 1.25 Shares for every --
Irrigation 15-12-2022 Shares (F.V.Rs.10) 1 Share heald on BSE Next Week
(Rs. 12.18 Cr.) 11-11-2022
5. Roni 9-12-2022 8,67,189 70 1 Shares for every BSE --
Households 23-12-2022 Shares (F.V.Rs.10) 5 Share heald on Next Week
(Rs. 6.07 Cr.) 25-11-2022
5. Samor -- 64,50,000 25 3 Shares for every --
Reality -- Shares (F.V.Rs.--) 2 Share heald on BSE Next Week
(Rs. 16.13 Cr.) 11-11-2022
6. Evoq - 4,89,60,000 10 18 Shares for every BSE --
Remedies -- Shares (F.V.Rs.10) 5 Share heald on NSE Next Week
(Rs. 48.96 Cr.) --
Keystone Realtors (543669) :- The issue with offer price of Rs. 541 listed on November
24 with 2.62% premiums at Rs. 555 and went up to Rs. 568.25 and down to Rs. 555 before
closing at Rs. 557.80. It closed at Rs. 567.55 on November 24. Book profit once it crosses
Rs. 600 level.
* Insight into the last week's issues:-
• Ambo Agritec :- The issue with fixed price of Rs. 30 closed with 336.75x subscription
including 323.51x in non-retail and 350x in retail category. It may witness a bumper listing on
December 2 around Rs. 40-45 and may go closer to Rs. 50.
• Transwarranty Finance :- Rs. 24.46 crore Rights Issue is closing on November 29. As
advised, the retail investors should stay away from it.
* This week's new issues :- This week five new issues including 2 Mainboard, 2 NSE
SME IPOs and one Rights Issue have entered the market. The detailed analysis is given in
separate box.
• Dharmaj Crop Guard :- Combo issue will offer shares at price of Rs. 216-237 to raise
Rs. 251 crore. It will close on November 30.
Subscription :- It may get 6-8x subscription in retail. Average subscription in QIB is
expected.
Allotment/Refund :- Allotment on December 5, refund and share credit on December 6.
Cont...
Financial Weekly TM

December 2022 52
• Five Star IPO got listed with 4% discount but closed with 9% premiums: Spurt after listing
• INOX Green IPO got listed with 7% discount and closed below offer price
• Keystone Relators' issue got listed with just 2.62% premium: Shines after listing
• Campuage's Rs. 41.58 crore Rights Issue with offer price of Rs. 20 will open on November 23
• In 2022 IPO approval period increased to 115 days from 75 days in 2021 and 76 days in 202
Listing :- it may list on December 8 around Rs. 270-280 and may cross Rs. 300 level in
good market. Anchor Investors category subscription is worrysome. It should be noted that
Elara India OpportunitiesFund has made a bid for 46.63% stake, which is associated with
Lead Manager Elara Capital. Rajasthan Global Sec and Resonance Opportunities Fund have
made bid for 33.35% and 20.02% stake. None of famous foreign or domestic institution/fund
has made a bid, which is quite negative aspect of the issue. Book profit if shares are allotted.
• Uniparts India :- Rs. 835 crore OFS issue with offer price of Rs. 548-557 will open on
November 30 and close on December 2.
Subscription :- IPO may get 8-10x subscription in retail and better response in QIB and
HNI.
Allotment/Refund :- Allotment may be on December 7, refund on December 8 and share
credit on December 9.
Listing :- It may list on December 12 with a bang around Rs. 700-725 and may cross Rs.
750. It may give good return in medium to long term.
* This week's SME IPOs:-
• Pritika Engineering Components :- Issue opened on November 25 and will close on
November 30. Lead Manager is GYR Capital. It has got 2.84x subscription on 1st day. It is
an average issue but high risk taking investors can consider for long term. Share may list on
December 8 around Rs. 35-40.
• Baheti Recycling Industries :- Issue with fixed price of Rs. 45 will open on November 8
and close on November 30. It may get robust response from the investors and get a vibrant
listing. It can be applied for short term and listing gain. Share may get listed on December 8
around Rs. 65-70 and may cross Rs. 75 in good market.
Financial Weekly TM

December 2022 53
Adani Enterprises' Big Equity fundrising by Indian
Non - Financial Corporates
board approves Issuer Name (Offer Type) Date of Offer Size
Announcement
raising up to Rs Reliance Industries (Rights Issue)
Bharti Airtel (Rights Issue)
30-4-2020
28-2-2019
53124.00
25000.00
Vodafone IDEA (Rights Issue) 23-11-2019 25000.00
20,000 cr via FPO Bharti Airtel (QIP)
Zomato (IPO)
14-1-2020
14-7-2021
14400.00
10110.00
The board of Adani Enterprises on Friday Bharti Airtel (QIP) 7-11-2017 9594.00
cleared a proposal to raise Rs 20,000 crore or One 97 Comm. (IPO) 8-11-2021 9053.00
$2.5 billion via a follow-on public offering (FPO). Bharti Airtel (QIP) 25-5-2020 8417.00
The share sale to retail and institutional inves- Tata Steel (Rights Issue) 19-12-2017 7925.00
tors is set to be India's largest FPO. Tata Motors (Rights Issue) 27-1-2015 6779.00
"We wish to inform you that the board of di-
rectors of the Company, at its meeting held on
25th November 2022, has approved: (i) raising
Interesting history of
of funds by way of a further public offering
through a fresh issue of Equity Shares by the
Adani Enterprises
Company aggregating up to Rs 20,000 Crore; 1995 (Sept) : IPO in name of
and (ii) to seek approval of the shareholders for ADANI EXPORTS LTD.
the aforesaid issuance by way of postal ballot PRICE OF RS. 150 WITH FV RS. 10
process," the company said in an exchange fil-
ing. 100 Shares Alloted.. As an example.
The FPO will help the Adani Group flagship
company to reduce debt and fund expansion
plans. The FPO is likely to be completed by
March 2023, said reports. ICICI Securities and
Jefferies will manage the FPO.
Adani Group chairman Gautam Adani is plan-
ning to invest more than $4 billion in a petro- 1996 Bonus.. 1:1 100 = 200
chemical complex in Gujarat, 1999 Bonus.. 1:1 200 = 400
According to publicly available data, pro- (At that time, shares all time high was 848)
2004.. Split into RS. 1 from RS. 10 F.V. 400 = 4000
moter holding in the company stands at over 2009.. Bonus 1:1. 4000 = 8000
72%, while Foreign Institution Investor (FIIs), 2015.. Demerger.. into
retail and mutual fund holding in the company is 1) Adani Port (141:100)
15. 59%, 6.46% and 1.27% respectively. Those who has 100 Adani Ent got 141 Shares of Adani Port...
An FPO will also allow the company to in- 2) Adani Power (185:100)
crease its public float of shares, and bring it to 3) Adani Transmission..( 100:100).
Means , Now latest situation is..????
par with other companies of similar size such
1) ADANI ENT.. 8000 Shares x 3903.00 = 3,12,24,000
as Reliance Industries and Tata Consultancy 2) ADANI PORT 11,280 Shares x 878.00 = 99,03,840
Services (TCS). The market capitalisation of bil- 3) Adani Power 14,800 Shares x 323.00 = 47,80,400
lionaire Gautam Adani's company as of Friday 4) Adani Transmisn 8000 Shares x 2739.00 = 2,19,12,000
market close was at Rs 4.44 lakh crore. 5) Adani Gas 8000 Shares x 3662.00 = 2,92,96,000
More banks are likely to join the FPO, but 6) Adani Green 6088 Shares x 2024.00 = 1,23,22,112
ICICI Securities and Jefferies were the first to Total =10,94,38,352
alert some institutional investors to gauge their Now calculating the valuation as of today.
mood on the issue. 27 years of journey and a deposit of Rs 15,000 in 1995 would
reward (as on: 26-11-2022)
Financial Weekly TM

December 2022 54
Grey Market Movement
Grey market in rosy due to bullish wave in Secondary Market
and premium listing of issues
Mainboard IPOs- Dharmaj Crop and Uniparts premiums turned upside down
Ambo Agritec BSE SME IPO premiums spurt after 337x subscription
Baheti Recycling NSE SME IPO premiums sky-rocketed
PritikaEngg. NSE SME IPO premiums stable with
nominal deals in grey market
Due to bullish wave in the secondary market and premium listing of IPOs the grey
market is turning pink (rosy). However, last week two out of five issue got listed with
nominal discount, but three IPOs got listed with good premiums. As a result, the grey
market premiums sky-rocketed but went downwards due to selling pressure.
* Mainboard IPOs:-
• Dharmaj Crop Guard :- In the issue with offer price of Rs. 216-239 premiums started
at Rs. 20-25 and went up to Rs. 85/90 but came down to Rs. 55/70. Interest rates and
subject to segments are not witnessing many deals.
• Uniparts India :- The issue with offer price of Rs. 548-577 have witnessed huge
fancy, so the issue premiums started at Rs. 40/45 and sky-rocketed to Rs. 195 but now
are around Rs. 120/125. Interest rates are around Rs. 450 and subject to rates are Rs.
2500. Small HNI and Big HNI subject to rates are Rs. 20000. Rs. 10 lakh+ application are
witnessing interest rates of Rs. 6700.
* SME IPO:-
• Ambo Agritec :- Premiums started at Rs. 4-5 but went up to Rs. 8-10 and after 337x
subscription it has gone up to Rs. 14-15. Subject to rates are Rs. 58000.
• Pritika Engineering Components :- NSE SME IPO premiums started at Rs. 4-5 and
now it is around Rs. 6-7 but average deals are taking place. Premiums may go up.
• Baheti Recycling Industries :- Issue premiums started around Rs. 8-9 but went up to
Rs. 25. Subject to rates are Rs.50000. Premiums may go up in coming days.
Financial Weekly TM

December 2022 55
Dharmaj Crop Guard Main Line IPO
Opens on 28th Nov. & Closes on 30th Nov.
Price Band Rs. 216 to 237; Listing on BSE NSE Platform
It is profit making and dividend (1%) paying company with consistent growth
Though its EBITDA & Gross profit margins are low compared to peers
On valuation parameters considering P/BV of 2.53 & PE of 14.90 Issue is reasonable priced
Looking to the fancy in this segment, Investors may apply for medium term rewards
Incorporated in 2015, Dharmaj Crop Guard Limited is an agrochemical company. The company is engaged in the business
of manufacturing, distributing, and marketing a wide range of agrochemical formulations such as insecticides, fungicides, herbi-
cides, plant growth regulators, micro fertilizers and antibiotics to the B2C and B2B customers. The company also provides crop
protection solutions to the farmer to assist them to maximize productivity and profitability. Dharmaj Crop Guard Limited export
products to more than 20 countries in Latin America, East African Countries, the Middle East and Far East Asia. As of November
30, 2021, Dharmaj Crop Guard Limited had more than 196 institutional products that they sold to more than 600 customers based
in India and the international markets. As of November 30, 2021, the company exported its products to more than 60 customers
across 20 countries. The company's manufacturing facility is located in Ahmedabad, Gujarat, India. Dharmaj Crop Guard Limited
also has a research and developments ("R&D") centre at the manufacturing facility. The company's branded products are sold in
12 states through a network comprising over 3,700 dealers having access to 8 stock depots in India, as of November 30, 2021.
Issue Details Financial Performance : Consolidated Basis

• Issue Opened on 28th Nov. & Closes on 30th Nov. 2022 Particulars (Rs. Cr.) FY20 FY21 FY22 31-7-2022
• Object of the issue : Funding capital expenditure towards setting up of a Total Revenue 199.16 303.56 396.29 221.17
Profit After Tax 10.16 20.96 28.69 18.36
manufacturing facility at Saykha, Bharuch, Gujarat, Funding incremental
EPS 5.75 8.49 11.62 7.44
working capital requirements of the Company, Repayment and/or pre-
RONW (%) 30.55 37.33 34.64 18.15
payment, in full and/or part, of certain borrowings of the Company and
General corporate purposes.
• Issue Size : 1,05,96,924 Shares (Rs. 251.15 Cr.)
• Face Value Rs. 10 • Offer Price : Rs. 216 to 237
• Minumum Lot Size : 60 Share • Listing on : BSE NSE Platform
• BRLM : Elara Capital (India) Private, Monarch Networth Capital Ltd • Registrar : Link Intime India Private Ltd
• Company Management : Rameshbhai Ravajibhai Talavia, Jamankumar Hansarajbhai Talavia, Jagdishbhai Ravjibhai
Savaliya and Vishal Domadia are the company promoters.
• Pre Issue Promoter Holding : 100% • Post Issue Promoter holding : 73.03%
• Issue constitutes 31.35% of the post issue paid up capital
• Average of last 3 Yrs. EPS Rs. 9.60 & RONW : 34.80%
• Pre IPO Eq. Capital Rs. : 24.68 Cr. • Post IPO Eq. Capital Rs. 33.80 Cr.
• Pre IPO : P/BV Ratio : 5.78 (NAV : 40.99) • Post Issue : P/BV Ratio : 2.53 (NAV : 93.84)
• Pre IPO P/E Ratio : 20.40
• Post IPO asking P/E on fully diluted equity : 14.90
• Industry peer Group PE Ratio : 24.04
• BRLM’s Performance : This is 1st Issue from BRLM
OTHER SIDE OF THE COIN
• The average cost of acquisition of equity shares by the promoters / selling shareholders is Rs. 1.95, Rs. 7.19 & Rs. 7.52, 9.16
per share and offer price is Rs. 216 to 237
• It has issue bonus shares in the ratio of 3:2 for May 2019, 1:1 July 2019, 1:2 November 2021
• It has also issue rights shares at Rs. 21.95 for November to December 2019
• Apart from initial equity issue at par company has issued further equity shares in the price range of Rs. 15 to Rs. 21.95 between
April 2017 & December 2019
• Company is dependent on limited customers for a significant portion of its revenue.
• Company business is subject to climatic conditions & cyclical nature.
• It derives almost all revenues from the sale of formulations in the agro - chemical industry.
• It has face competition from both domestic as well as Multinational Corporation.
• This business is subject to significant risk and hazards
• Manufacturing facility is concern traded in a single region.
• Its business is working capital & labor intensive
• Company has experienced negative cash flow from operating activities
Recommendation ; Dharmaj Crop guard is profit making and dividend (1%) paying company. It has posted consistent growth
in its top lines and bottom lines for the last three and half years. Though its EBITDA margins and gross profit margins are lower
compared to listed peers, Considering P/BV of 2.53 and PE of 14.90 issue is reasonably priced. Looking to the wild network, Key
customers, expansion plan and fancy in these segment investors may apply for medium term rewards.
Financial Weekly TM

December 2022 56
Uniparts India Limited Main Line IPO
Opens on 30th Nov. & Closes on 2nd Dec.
Price Band Rs. 548 to 577; Listing on BSE NSE Platform
It is profit making and dividend paying company with consistent growth
Co. has posted strong financial performance for the last 3 fiscals & 3MFY23
On valuation front considering all parameters, issue is reasonable priced
Investors may apply for short term and listing gain in this attractive issue
Incorporated in 1994, Uniparts India Limited is a manufacturer of engineered systems and solutions. The company is one of
the leading suppliers of systems and components for the off-highway market in the agriculture and construction, forestry and
mining ("CFM") and aftermarket sectors with the presence across over 25 countries. The company's product portfolio includes
core product verticals of 3-point linkage systems ("3PL") and precision machined parts ("PMP") as well as adjacent product
verticals of power take-off ("PTO"), fabrications and hydraulic cylinders or components. Uniparts is a concept-to-supply player for
precision products for off-highway vehicles ("OHVs") with a presence across the value chain In India, the companies have five
manufacturing facilities, two at Ludhiana, Punjab, one at Visakhapatnam, Andhra Pradesh, and two at Noida, Uttar Pradesh.
Uniparts also have a manufacturing, warehousing and distribution facility at Eldridge, Iowa, acquired under the acquisition in
2005 of Olsen Engineering LLC, now known as Uniparts Olsen Inc. ("UOI") and a warehousing and distribution facility at Augusta,
Georgia.
Issue Details
Financial Performance : Consolidated Basis
th nd Particulars (Rs. Cr.) FY20 FY21 FY22 3MFY23
• Issue Opened on 30 Nov. & Closes on 2 Dec. 2022 Total Revenue 938.84 947.69 1231.04 347.76
• Object of the issue : The company will not receive any proceeds from Profit After Tax 62.64 93.15 166.89 50.52
the Offer and all such proceeds will go to the Selling Shareholders. EPS 13.88 20.64 36.98 11.19
• Issue Size : 1,44,81,942 Shares (Rs. 835.61 Cr.) RONW (%) 13.50 16.63 24.35 7.08
• Face Value Rs. 10 • Offer Price : Rs. 548 to 577
• Minumum Lot Size : 25 Share • Listing on : BSE NSE Platform
• BRLM : Axis Bank Limited, DAM Capital Advisors Ltd, JM Financial Limited (Past IPO Performance)
• Registrar : Link Intime India Private Ltd • Company Management : Gurdeep Soni and Paramjit Singh Soni
• Pre Issue Promoter Holding : 75.54% • Post Issue Promoter holding : 65.79%
• Market Cap : Rs. 2604.22 Cr.
• Pre IPO Equity Capital Rs. 45.13 Cr. • Post IPO Equity Capital Rs. 45.13 Cr.
• Pre IPO : P/BV Ratio : 3.64 (NAV : 158.18) • Post Issue : P/BV Ratio : 3.64 (NAV : 158.18)
• Pre IPO P/E Ratio : 15.60 • Post IPO asking P/E on fully diluted equity : 12.40
• Industry Peer Group PE Ratio : 27.26
• BRLM’s Performance : This is 69 th Issue from BRLM in last 3 years. In last 68 listing : 43 Issue opened with Premium & 25 Issue
with Discount

• The average cost of acquisition of equity shares by the promotes is Rs. 9.58 & 9.97. Selling shareholders Rs. 0.00 to Rs. 6.27,
Investors selling shareholders Rs. 88.45 and Individual shareholders Rs. 105.70 to Rs. 147.74 and offer price is Rs. 577 per
shares.
• It has issued bonus shares in the ratio of 2:5 in Feb. 2007 and 1:1 in April 2014
• Apart from initial equity capital at par company issued further equity shares in the ratio of Rs. 45 to Rs. 294.75 between Feb.
2007 and April 2011
• It is third attempt to launch its maiden IPO since 2014. Company postponed its IPO launching in Sept. 2014 and again it drop
it plan for IPO in Dec. 2018
• Company is dependent on limited customers. Top-10 customer contributes an average 71% of the revenue.
• Fluctuations in foreign currency may harm company results from operations. The revenue from operational derived from
outside India was an above 69%
• The offer comprises only an offer for sale by the selling shareholders hence company will not receive any proceeds from OFS.
• The company is significant impacted by the availability of raw materials, particularly steel, power; fuel and labor which expense
are average 62% of total expenses.
• Negative cash flow from operation in the past
Recommendation : - Its profit making & dividend paying company. It has posted strong
growth consistently in top lines and bottom lines for last three fiscals & 3M of FY23. It EBITDA
Gross profit & net profit margins and RONW, ROE & ROCE are better than listed peers. On
valuation front considering P/BV of 3.64 and PE 12.4 offer issue appears reasonably priced.
Investor's should apply in this attractive IPO for short term or listing gain.
Financial Weekly TM

December 2022 57
Pritika Engineering Components NSE SME IPO
Opens on 25th Nov. & Closes on 30th Nov. Offer Price Rs. 29; Listing on NSE SME Platform
Ptitika Industries is a parent company of pritika engg. & its performance is an average
It has posted consistent growth in top & bottom lines for the last three and half year
However sudden jump for FY22 & top line of H1FY23 is unlikely to sustain going forward
On valuation front IPO is reasonable priced
Risk taker investors may apply for long term
Pritika Engineering Components Limited is engaged in the business of manufacturing of precision machined compo-
nents primarily for the automotive industry, especially for tractors, trucks, and other commercial vehicles, etc. The
company manufactures various Tractors & Automobile components like End Covers, Cover Sealed Brakes, Differential
Cases, Cover Hydraulic Lift, Cover Transcase, Front Wheel hubs, Fly Wheel Housing, Rear Axle Casings, Hydraulic Lift
Covers, Brake Housing & Front Engine Supports etc. Pritika Engineering manufactures customized products for trac-
tors, commercial vehicles & other construction equipment, etc which are supplied to Original Equipment Manufacturers
(OEMs) directly/through the group companies. The company was previously listed on Calcutta Stock Exchange and the
same was directly listed on the Bombay stock exchange dated October 01, 2015. Pritika Engineering Components
Limited's manufacturing unit is located in Punjab. The company's clients include Ashok Leyland, Eicher, Mahindra,
Tafe, and Swaraj, among others. The total revenue for the year 2021-22 is Rs 5,739.58 lakhs. Pritika Engineering
Components Limited is a wholly owned subsidiary of Pritika Auto Industries Limited.
• Issue Opens on 25th Nov. & Closes on 30th Nov. 2022 Particulars (Rs. Cr.) FY21 FY22 H1FY23 H1FY23
• Object of the issue : a) Investment in relation to the new unit set up Standalon Consolidated
by the wholly owned subsidiary, Meeta Castings Limited (MCL) and Total Revenue 32.44 57.40 43.40 43.85
General Corporate purposes Profit After Tax 0.38 5.46 1.86 180
• Issue Size : 32,48,000 Equity Share (Rs. 9.42 Cr.) EPS 0.60 7.15 -- 2.36
• Face Value Rs. 10 • Offer price Rs. 29 RONW (%) 3.025 33.05 -- 9.83
• Minumum Lot Size : 4000 Share • Listing on : NSE SME Platform
• BRLM : GYR Capital Advisors Limited
• Registrar : Satellite Corporate Services Private Limited
• Company Management : Pritika Auto Industries Limited
• Pre Issue Promoter Holding : 100%
• Pre IPO : P/BV Ratio 1.21 (NAV : 24) • Post Issue : P/BV Ratio : 1.14 (NAV : 25.50)
• BRLM’s Performance : This is 9th Issue from BRLM in last 2 years. In last 8 Listing : 8 Issued opened with premium.

• The average cost of acquisition of equity shares in the promoters is Rs. 15.52 per share and offer price is Rs. 29 per
share.
• Apart from initial equity capital at par, company issued further equity capital at a price of Rs. 26 per share in Septem-
ber 2020 and February 2021
• It is highly competitive segment and many high players are in the field
• Its parent company pritika Auto (PAIL) is listed on BSE and NSE. The name of company was changed many times.
It has not paid and dividend since 2020. Its CMP is Rs. 16.75 (F. V . Rs. 2), 52 Week High Rs. 22.25 and Low price
of Rs. 10.5
• Company is spending Rs. 1.85 cr. for this IPO of 9.4 crore (around 20%) in other ward IPO is fully managed in
advance.
Recommendation : Pritika Engg. Is wholly owned subsidiary of pritika Industries and IPO money
to be invested in its wholly owned subsidiary Meeta casting Ltd. On financial front it has posted
consistent growth for the last three & half years. However sudden jump on its FY22 & top line of
H1FY23 is surprising and unlikely to sustain going forward. On valuation front considering P/BV
1.14 and PE of 8.92 issues is reasonably priced. Risk taker investors may apply for long term pro-
spective in this issue.
Financial Weekly TM

December 2022 58
Baheti Recycling Industries NSE SME IPO
Opens on 28th Nov. & Closes on 30th Nov.
Offer Price Rs. 45; Listing on NSE SME Platform
It has posted consistent growth in top & bottom line for the reported periods
Sudden jump in bottom lines of FY22 & 2MFY23 is surprising
The borrowing is very high and Net Profit margin is also very low
On valuation front considering all parameters, issue is reasonably priced
Investors may apply for short term or listing gain in this issue
Incorporated in 1994, Baheti Recycling Industries Limited is an aluminium recycling company. The company is
primarily engaged in processing aluminium-based metal scrap to manufacture (i) aluminium alloys in the form of ingots
and (ii) aluminium de-ox alloys in the form of cubes, ingots, shots and notch bar. The company is also engaged in trading
of scrap materials such as aluminium scrap, brass scrap, copper scrap, zinc scrap etc. Baheti Recycling Industries'
manufacturing unit is situated at Dehgam (Gandhinagar, Gujarat) and has a 12,000 MT installed capacity for processing
aluminium scrap. The company's esteemed customers include ArcelorMittal Nippon Steel India, Tata Steel, Minda
Corporation, Sigma Electric, Sunflag Iron & Steel Co. Ltd. etc. The company markets its products in around 12 states
& Union Territories in India. Baheti Recycling Industries Limited also sell our products to foreign buyers located in
Japan, Canada, USA, China, Hong Kong, UAE, Taiwan etc.
th th Particulars (Rs. Cr.) FY20 FY21 FY22 31-5-22
• Issue Opens on 28 Nov. & Closes on 30 Nov. 2022
2MFY22
• Object of the issue : Modernization and expansion of existing
Total Revenue 105.96 127.80 249.26 57.57
manufacturing unit, To meet Working Capital requirements,
Profit After Tax 0.19 0.48 2.92 0.57
General Corporate Purpose.
EPS 0.31 0.76 3.84 0.75
• Issue Size : 27,60,000 Equity Share (Rs. 12.42 Cr.)
RONW (%) 17.49 4.42 1.86 3.32
• Face Value Rs. 10 • Offer price Rs. 45
• Minumum Lot Size : 3000 Share • Listing on : NSE SME Platform
• BRLM : Hem Securities Limited
• Registrar : Purva Sharegistry India Pvt Ltd
• Company Management : Mr. Shankerlal Bansilal Shah, Mr. Balkishan Shankerlal Shah and Mr. Yash Shankerbhai
Shah
• Pre Issue Promoter Holding : 99.98%
• Post Issue Promoter holding : 73.37%
• Pre IPO : P/BV Ratio 1.98 (NAV : 22.70)
• Post Issue : P/BV Ratio : 1.57 (NAV : 28.63)
• BRLM’s Performance : This is 18th Issue from BRLM in last 3 years. In last 10 Listing : 10 Issued opened with
premium.
• The average cost of acquisition of equity shares by the promoter is Rs. 1.07, Rs. 1.94 and Rs. 4.28 per share and offer
price is Rs. 45 per share.
• It has also issued bonus shares in the ratio of 1:4 in February 2000 and 2:3 June 2022 before filing DRHP
• The company had negative operating cash flow in recent fiscals
• Company do not own the registered office.
• It borrowing is high of 50.75 Cr. and post IOP market cap is Rs. 46.60 Cr.
• High cash flow require for the import of raw materials.
• Net profit margins is around 1% only
• Operations of melting aluminum scrap in furnaces is extremely dangerous
Recommendation : It has posted consistent growth in top lines & bottom lines for the
reported periods. However sudden jump in bottom lines of FY22 & 2MFY23 is surprising.
Net profit margins as around 1 which is very low. On valuation front considering P/BV 1.57
and PE of 13.80, issue appears reasonably priced. Investors may apply for short term or
listing gain.
Financial Weekly TM

December 2022 59
Compuage Infocom Limited Rights Issue
Opened on 23rd Nov. & Closes on 2nd Dec.
Offer price Rs. 20 per Share; Listing on BSE & NSE
F.V. Rs. 2, BSE Code : 532456 • CMP : 22.40
52 Week High : Rs. 45.64, 52 Week Low : Rs. 19.68
It is profit making & divined paying company with
consistent growth for last 30 Months
Considering PE of 4.66, P/BV of 0.59 and ROE of 12.90 and 11% discount offer,
Risk taker shareholders may apply with small quantity
Compuage Infocom Limited is one of India's leading Value Added Distributors that caters to
system integrators, brand stores, enterprises, retailers and more. The company offers world-class
cloud, networking, cyber security, storage and server solutions. With offices and service centers
pan India, the company serve the growing network of 12000+ online/offline partners and system
integrators- facilitating convenient business operations. Compuage has 69 service centres. The
company offers services such as Consulting Services, Under Warranty after Warranty Services,
and Technical Support for IT Environment. Financial Performance : Consolidated Basis
Particulars (Rs. Cr.) FY21 FY22 H1FY23
Total Revenue 3447.18 4223.95 2186.20
Issue Details Profit After Tax 20.68 26.75 14.57
• Issue Opens on 23rd Nov. 2022 &
Closes on 2nd Dec. 2022
• Object of the Issue : Augment working capital requirements and General corporate purposes.
• Issue Size : 2,07,92,258 Shares (Rs. 41.58 Cr.)
• Face Value Rs. 10 • Issue Price : Rs. 20 per Share
• Market Lot : 1 per Share • Listing on BSE & NSE
• Terms of payment : Entire amount of Rs. 20 per Rights Equity share to be paid at the time of
application
• Entitlement : 8 Equity Shares for every 25 Equity Shares held on the Record Date : 14-11-2022
• Deemed Date of Allotment : 13-12-2022
• Lead Manager : Mark Corporate Advisors Private Limited
• Registrar : Link Intime India Private Ltd
• Pre IPO Equity Capital Rs. 13 Cr.
• Post IPO Equity Capital Rs. 17.15 Cr.
• CUM Rights Rs. 23.15 (11-11-22) • Posted High : 25.25/ Low : 22.25
• Ex-Rights Rs. 22.85 (14-11-22) • Last Closed Rs. 22.60 (18-11-2022)
• 52 Week High : 45.65 & Low : Rs. 19.68
Recommendation : It has posted consistent growth in top lines & bottom lines for the last
30 Months. However decline in promoter holding from 58.33% to 48.60%, raises concern. On
valuation front considering PE of 4.66, P/BV 0.59 and ROE is 12.90, Rights shares are of-
fered 11% discount to current market price. Risk taker shareholders may apply with small
Quantity
Financial Weekly TM

December 2022 60
Smart Best Buy S. N. Zaveri
L&T Infotech is now LTI Mindtree: Buy

Polyplex : Multibagger stock with strong Q2 numbers
Pidilite Industries : H2 will be much better than H1
Indigo expected to return to profit in Q3
Berger Paints : New Session with paint going forward
L&T Infotech (Rs. 4939.00) (Code : 540005) : The L&T Group has announced
operationalisation of the merger of Mindtree with LTI (Larsen & Toubro Infotech), effective Novem-
ber 14. The new entity, LTI Mindtree, will begin trading from November 24. Mindtree shareholders
will get 73 LTI shares for every 100 shares they hold post merger. LTI and Mindtree merger was
announced in May 2022. The parent company, L&T, will hold 68.73% of the merged entity -
LTIMindtree. The merged entity will have over 90,000 employees with operations across 30 coun-
tries. The highly complementary strengths of LTI and Mindtree make this integration a win-win
proposition for all the stakeholders. Buy.
Polyplex Ltd (Rs. 1782.00) (Code : 524051) :- Net profit of Polyplex Corporation
rose 19.76% to Rs 115.02 crore in the quarter ended September 2022 as against Rs 96.04 crore
during the previous quarter ended September 2021. Sales rose 35.00% to Rs 2089.29 crore in the
quarter ended September 2022 as against Rs 1547.58 crore during the previous quarter ended
September 2021. This small-cap company have given multibagger returns in the last two years, it
surged around 150 per cent. Chennai-based celebrity investor Dolly Khanna has marginally re-
duced her stakes in Polyplex Corporation from 1.3 to 1.2 per cent in September 2022 quarter. As
per the latest shareholding pattern available on the BSE, the ace investor has 3,68,170 equity
shares in the company. Join her if you believe in her and the company.
Pidilite Industries (Rs. 2661.00) (Code : 5000331) :- Pidilite is a market leader

in the adhesive and sealants business. The company’s consumer & bazaar (C&B) segment (adhe-
sives & sealants, construction & paint chemical, art & craft materials) contributes 80% to topline
while the B2B segment (industrial adhesive, resins and pigments) contributes ~20% to topline •
Has 4800+ distributors, strong balance sheet (RoE, 19%, RoCE, 22%). VAM prices have corrected
to $1,200-1,400 per tonne from highs of $2,500 per tonne (consumption price was at $2,491 per
tonne in Q2). Thus, EBITDA margin would start recovery from Q3FY2023 and is expected to reach
Cont...
Financial Weekly TM

December 2022 61
20% by Q4FY2024. Management is cautiously optimistic for improved demand in H2, led by better
monsoon, pick-up in construction activities, and stable input inflation. Management is targeting
double double-digit volume growth in FY2023. Buy.
Indigo (Rs. 1907.00) (Code : 539448) : Interglobe Aviation – the operator of India’s
largest airline IndiGo — has corrected its course and it now looks set to return to path of profit. The
domestic airline is expected to return to profitability in Q3. It comes as a relief to the company due
to softening of fuel prices and increasing demand. Being a market leader and having stability in
airfares will benefit the airlines since ATF (Aviation Turbine Fuel) accounts for about 40 per cent of
airlines' expenditure. The airline reported 8.9 per cent year-on-year (YOY) increase in fly per week
in November whereas the airline's rival- SpiceJet reported 27 per cent year-on-year (YOY) drop in
SpiceJet flights per week in November. The airline is expected to a recovery and Rs 2800 crore
profit is possible in H2FY23. The airline had earlier reported a loss of Rs 2647 crore in H1FY23.
Total income of the company rose to Rs 12,852.29 crore in the second quarter of the current fiscal
from Rs 5,798.73 crore in the same period a year ago. Buy.
Berger Paints (Rs. 616.00) (Code : 509480) : The September quarter earnings
performance of Berger Paints India Ltd was a mixed bag. While decorative paints volumes grew
around 11% year-on-year (y-o-y), margins disappointed due to cost inflation and poor product mix.
Berger's gross margin compression of over 300 basis points (bps) y-o-y was the steepest among
peers. One basis point is 0.01%. On a three-year CAGR basis, Q2 decorative business revenue
grew 18.4%, this compares with 20% growth witnessed by market leader Asian Paints Ltd. CAGR
is short for compound annual growth rate. Analysts note that although Berger is lagging Asian
Paints on this parameter, the gap seems to have narrowed in Q2FY23 versus Q1FY23. Berger
management said that it saw market share gains of 80bps, rising from 18% in FY22 to 18.8% in
first half of FY23. Further, raw material prices are likely to soften going forward. 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
25th November, 2022 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 TM

December 2022 62
Dalal Street Whispers Dilip K. Shah
PNB (Rs. 53.00) (Code : 532461) :- The Punjab National Bank (PNB) received the
government's approval to divest its entire stake in UTI Asset Management Company as part of its
non-core asset sale plan to shore up its capital base. The bank currently holds 15.22 % stake in
UTI AMC worth around Rs 1300 crore at current valuation.
SBI (Rs. 607.00) (Code : 500112) ;- SBI is planning to raise 10-year infrastructure
rated AAA from Icra and India Ratings for a quantum of Rs 5,000 crore, plus Rs 5,000 crore, total-
ling Rs 10,000 crore.
Tube Investment (Rs. 2588.00) (Code : 540762) :- Tube Investments of India

(TII), a Murugappa Group company, has acquired a 50 % stake in X2Fuels and Energy, an early-
stage start-up incubated at the National Centre for Combustion Research and Development
(NCCRD) at IIT Madras.X2Fuels and Energy endeavors to develop and deploy thermochemical
technologies for the conversion of any solid feedstock such as lignocellulosic agri-residues, plas-
tics, bio-organic wastes and municipal solid wastes into storable liquid and solid fuels, which can
potentially be integrated within a refinery infrastructure.
Indian Oil Corporation (Rs. 73.00) (Code : 530965) :- ICICI Bank, ICICI Pruden-
tial Life Insurance, HDFC Life Insurance and SBI Life Insurance have entered into agreements to
invest in seed capital of a proposed joint venture of Indian Oil Corporation and Chennai Petroleum
Corporation. The project is expected to see an investment of Rs 31,580 crore.
TVS Motor (Rs. 1037.00) (Code : 532343) :- TVS Motors expanded its global
footprint and has launched its first showroom in Singapore.
Tata Steel Long (Rs. 639.00) (Code : 513010) :- Tata Steel Long has further
acquired 46.87 million shares at a premium of Rs 54 per share of NeelachalIspat Nigam for Rs 300
crore (tranche 2).
PVR (Rs. 1866.00) (Code : 532689) :- PVR has opened 12 screen superlex in
Thiruvananthapuram, Kerala.
Allcargo Logistics (Rs. 467.00) (Code : 532749) :- Allcargo Logistics wholly

owned subsidiary Allcargo Belgium NV has entered into a share purchase agreement with NBG
LogistikBeteiligungs und BeratungsgesmbH to acquire 75 % stake in Fair Trade GmbH Schiffahrt,
Handel und Logistik for €12 million (Rs 101.95 crore).
Laurus Labs (Rs. 455.00) (Code : 540222) :- Lauraus Labs will acquire 7.4 lakh
shares of Ethan Energy India at Rs 52.70 apiece to secure 26 % shareholding.
Cont.....
Financial Weekly TM

December 2022 63
Veranda Learning Solutions (Rs. 280.00) (Code : 543514) :- Veranda Learn-
ing Solution is collaborating with IIM Raipur and SHRM (Society for Human Resource Manage-
ment) to launch an Executive Post Graduate Programme (Online MBA) in HR Management.
ACC (Rs. 2503.00) (Code : 500410) :- Adani group-owned ACC Cement's promoter
entity, Ambuja Cements, had released the non-disposal undertaking (NDU) on shares of ACC.
The company had created the NDU on over 93.9 million shares, or over a 50.05% stake, in ACC in
September.
TCS (Rs. 3388.00) (Code : 532540) :- India's largest information technology (IT)
services provider - Tata Consultancy Services (TCS) - and Bengaluru-headquartered ITI have
submitted their bids for the 4G network roll-out for Bharat Sanchar Nigam (BSNL).
JSW (Rs. 725.00) (Code : 500228) :- JSW Renewable Energy (Vijayanagar) Ltd
(JREVL) is raising a term loan of about Rs 3,900 crore to fund its project. The JSW group's power
business unit will also use the money to repay Letter of credit (LC) facilities at maturity.JREVL is
developing an 825 Mw hybrid plant (225 Mw solar, 600 Mw wind) at a cost of Rs 5,255 crore, which
is being funded in a debt-equity ratio of 75:25.
Biocon (Rs. 282.00) (Code : 532523) :- Biocon has entered into a commercialization
agreement with Zentiva in Europe for its vertically integrated, complex formulation, Liraglutide, a
drug-device combination for the treatment and management of Type 2 diabetes and obesity.
Can Fin Homes (Rs. 545.00) (Code : 511196) :- Can Fin Homes will consider
interim dividend in board meeting on November 28. It will also fix record date for payment of interim
dividend, if any.
Mahindra & Mahindra Financial Services (Rs. 212.00) (Code : 532720) :-

Life Insurance Corporation of India has picked additional 2 % stake in M&M Financial Services
increasing the shareholding to 7.02 %.
L&T (Rs. 2062.00) (Code : 500510) :- L&T won an order worth Rs 1,000-2,500 crore
from Greenko Group, one of the world's leading renewable energy companies, for development of
an off stream pumped storage project in Madhya Pradesh. Backed by strong order group company
has already surpassed its previous high of Rs 2,078.20, touched on January 18, 2022.
Hariom Pipes Industries (Rs. 314.00) (Code : 543517) :- Shares of Hariom

Pipe Industries (HPIL) hit an all-time high of Rs 313 amid heavy volumes after the company com-
pleted the setup of 15-ton electric melting furnace. It will increase the company's production of MS
Billets from 95,832 MTPA to 104,232 MTPA.
Cont.....
Financial Weekly TM

December 2022 64
Tata Consumers (Rs. 788.00) (Code : 500800) :- Tata Consumer is set to acquire
India's largest packaged drinking water company, Bisleri, for an estimated Rs 6,000-7,000 crore.
Chairman Ramesh Chauhan is aiming to disinvest Bisleri International to Tata Consumer Prod-
ucts three decades after selling soft drink brands Thums Up, Gold Spot and Limca to Coca-Cola.
Hindustan Motors (Rs. 20.00) (Code : 500500) :- Hindustan Motors has entered
a memorandum of understanding (MoU) to extend the electric vehicle (EV) domain across the
border to enhance the production of eco-friendly electric vehicle.
Engineers India (Rs. 80.00) (Code : 532178) :- Engineers India secured an order
from Mangalore Refinery & Petrochemicals (MRPL) for preparation of BDEP, DFR and pre-project
activities for bio-ATF plant at MRPL.
Aditya Birla Fashion and Retail (Rs. 309.00) (Code : 535755) :- Aditya Birla
Fashion and Retail (ABFRL) will acquire D2C clothing and accessories brand for almost Rs 100
crore. With this investment, ABFRL marks it foray into D2C segment by acquiring
Bewakoofstrategizes to build a portfolio of new-age digital brands across all categories.
Voltamp Transformers (Rs. 2751.00) (Code: 532757) :- Nippon India Mutual

Fund has bought 3 lakh shares of the company at an average price of Rs. 2650.
Indigo (Rs. 1902.00) (Code: 539448) :- The airline company has launched 19 new
flights to Europe under a code share with Turkish Airlines.
Reliance Industries (Rs. 2617.00) (Code: 500325) :- The company has received
the environment ministry’s approval for its submarine cable systems project connecting Asia and
Europe with high-capacity and high-speed internet connectivity. The world’s longest submarine
cable systems India-Europe-Express and India-Asia-Express are expected to be completed be-
tween 2023 and 2024. Moreover, Reliance Jio has secured NCLT approval to acquire Reliance
Infratel in a bankruptcy resolution.
Adani Enterprise (Rs. 3903.00) (Code: 512599) :- Adani Enterprise will raise Rs.
20,000 crore by selling new shares in an attempt to increase its free float and improve leverage
ratios. The board approved the proposal on Friday.
L&T (Rs. 2062.00) (Code: 500510) :- L&T has bought the entire stake held by Chiyoda
Corporation in their joint venture L&T-Chiyoda Ltd for Rs 75 crore.
NDTV (Rs. 386.00) (Code: 532529) :- Adani Group’s open offer to buy up to 26%
additional stake in NDTV kicked off on Tuesday and will remain open till December 5. More than
28 lakh shares have been tendered so far in the Rs. 493 crore open offer.
Cont.....
Financial Weekly TM

December 2022 65
Vedanta (Rs. 316.00) (Code: 500295) :- The metal company declared interim divi-
dend of Rs. 17.50 per share this week. It has fixed November 30 as the record date for the dividend.
The total dividend payout will be Rs. 6505 crore. Earlier, its group company Hindustan Zinc had
paid Rs. 15.50/share as interim dividend.
Borosil (Rs. 409.00) (Code: 543212) :- The company reported profit of Rs. 25 crore
for the September quarter as against Rs. 27 crore last year. Revenue for the quarter, however,
went up from Rs. 222 crore to Rs. 271 crore.
Tech Mahindra (Rs. 1079.00) (Code: 532755) :- LIC has bought 1.95 lakh shares
of this IT services company to increase its stake to 2.01%.
PVR (Rs. 1866.00) (Code: 532689) :- PVR is launching a 12-screen multiplex in

Thiruvananthapuram in Kerala on December 5.
HG Infra (Rs. 591.00) (Code: 541019) :- The company has signed an agreement for
a six-lane road project in the state of Uttar Pradesh.
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
Buy or Sell, Confused ?

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Financial Weekly TM

December 2022 66
Crude oil and metal stocks looking postive
Col Ajayastromoneyguru
Mobile 9414056705
As per Col Ajay CEO www.ajayastromoneyguru.com fourth week of November month 2022
represented by planet be known as Saturn and year 2022 represented by planet known as
Venus.
Sun , Mercury and Venus are making cinjuction in Mars house , Saturn will make cinjuction with
Moon Mars and sun are opposit to each other
All these combination may bring positive move in power, oil & Gas, cement sector in Indian and
international capital market .
Keep eyes on ONGC, Power grid corporation, ACC for short term trading .
Our advance prediction for weakness in crude oil and oil and Gas stocks proved correct
Hope all readers must have enjoyed big profit in stock and commodities
Now this week we are expecting strong up trend in crude oil in international market
Oil seeds and cotton may show postive move in Agriculture commodities pack
Steel and copper may also show positive move in metal pack
Timely profit booking is mandatory for short term trading
The above prediction and Analysis is done basis of Fundamental Analysis and Financial As-
trology .
Risk management is mandatory tool in stock Market .
You may use your wisdom and consult your analyst before taking any decision .
The above Analysis only for Education purpose.
Col Ajayastromoneyguru
Mobile 9414056705
Financial Weekly TM

December 2022 67
Investor’s Third Eye
Smt. Dr. Hemavathy / Padmanaban (Chennai)
E-mail : investorsthirdeye@gmail.com
Astrological planetary predictions

FOR STOCK MARKET INVESTMENTS
(From 28th November to 4th December 2022)
In this week, Rahu in Aries, Ketu in libra, Saturn in Capricorn and mars in Gemini, Jupiter in
Pisces, Sun, Mercury and Venus in Scropio, Moon occupies the house of Sagittarius, capriucorn
and aquarius. On 28th November and 29th November 2022, Rahu in Aries taking seventh position
towards Ketu in Libra bring volatlaity in the market. On 30th November and 1st December 2022,
sun, mercury and venus in scropio taking fifth position towards Jupiter in pisces may favour the
market. On 2nd December 2022, Saturn in Capricorn taking eleventh postion towards Jupiter in
pisces may favour the market. Logistics, banking FMCG, paper industry,steel , defence sector may
outperformJK ari genetics, Container corporation of India, Gujarat Appollo, RITES, unique organics,
IDFC bank may see good movement in the stock prices.
GOLD PRICE MOVEMENTS

(From 28th November to 4th December 2022)
28th Nov and 29th Nov 2022 : Rahu in aries taking seventh postion towards ketu in
libra may favour the market
30th Nov and 1st dec 2022 : Saturn in Capricorn taking 11th position towards sun,
venus and mercury in scropio may favour themarket
2nd Dec 2022 : Jupiter in pisces taking ninth position towards sun, mercury and venus in
scropio may favour the market
Financial Weekly TM

December 2022 68
News Track
The Bank aims to reach out to 4.5 lakh farmers

during the Baroda Kisan Pakhwada programme
Bank of Baroda (Bank), one of India’s leading public sector banks, today announced the
launch of the 5th Edition of the Baroda Kisan Pakhwada. The annual farmer engagement
programme commences on November 15, 2022, and concludes on November 30, 2022, with
the Baroda Kisan Diwas celebrations. During the 2-week agri festival, the Bank will connect
with 4.5 lakh farmers through a number of outreach events. The Bank’s network of ~5,000
semi-urban and rural branches across the country that predominantly serve the agri cus-
tomer segment will actively participate in ‘Baroda Kisan Pakhwada’.
‘Baroda Kisan Pakhwada’ has been designed to help the Bank boost engagement with the
farming community and create awareness about various agri products, schemes & delivery
channels offered by Bank of Baroda and initiatives taken by the Government for the benefit
of farmers.
Through outreach programmes such as farmer meetings, choupals, kisan melas etc, the
Bank will provide detailed information about various agricultural lending products like the
Baroda Kisan Credit Card, tractor loan, gold loan, and schemes related to agriculture allied
activities etc and offers available to farmers. The Bank has also introduced digital banking
services specifically for the agri segment to enable them to conveniently apply for agricul-
ture loans.
Speaking on the occasion, Shri Sanjiv Chadha, Managing Director & CEO, Bank of Baroda
said, “As a leading public sector bank, Bank of Baroda has a strong legacy and deep roots
with the Indian farming community. We connect rural and semi-urban India to mainstream
banking, enabling them to scale up their agri operations with a range of lending products and
banking services. ‘Baroda Kisan Pakhwada’ is a unique and truly one-of-its-kind initiative in
the banking industry, an opportunity to strengthen our relationship with our agri customers
and acknowledge their contribution to the nation.”
Financial Weekly TM

December 2022 69
News Track
Maximus outperforms with magnificent

growth in top and bottom line
Gujarat-based Maximus International Limited (MIL) has out-performed expectations by
clocking a turnover of Rs. 50.98 Crore for the first-half of this fiscal (H1 FY 23). This is
almost a 50% increase over the turnover figure of the same period last year.
"We not only achieved but exceeded our revenue target set for the H1 FY 23 (April 1,
2022-to-September 30, 2022). We are confident to achieve rapid and organic growth to meet
our annual target of sales and profits." the company's Chief Financial Officer, Mr Milind
Joshi, said.
MIL has fared well on a quarter-to-quarter basis as well with its top-line for the second
quarter (Q2 FY 23) increasing by almost 30 per cent as compared to the previous quarter
(Q1 FY 23).
"Our performance in Q2 is very heartening indeed. A significant highlight of H1 FY 23 is
that the company expanded its operating margins by 400 bps as compared to the previous
half-year period. This has resulted in the company's net margins also increasing signifi-
cantly", the company's Managing Director, Mr Deepak Raval, said.
The Indian multinational has almost doubled its profit before tax in the half-year under
question as compared to the previous half-year despite high volatility in the oil prices. Nota-
bly, The company has been profit making since its inception.
"The company's expansion in Africa is proceeding smoothly and as a first step, it recently
acquired the remaining equity stake in its Kenya-based manufacturing subsidiary with a view
to gain full control over the company." Mr Raval said.
Recently, the company has split its share in the ratio of 1:10.
Financial Weekly TM

December 2022 70
News Track
OSH India 2022

Sustaining Awareness of Well-being at the Workplaces
A revolution in the occupational health and safety industry is underway in India, bringing with it
a strengthened focus on accessibility to improved emergency responses and AI integration. Tak-
ing these conversations to greater heights, OSH India 2022,organised by Informa Markets in India,
opened its doors to the occupational health and safety industry today at the Bombay Exhibition
Centre, Mumbai. This year, the expo is celebrating its 10-year legacy of enriching the Indian indus-
try with occupational health and safety knowledge and spreading awareness through quality safety
and health product demos, along with industry-led conference sessions.
Kotak General Insurance launches Meter

Kotak Mahindra General Insurance Company Limited ("Kotak General Insurance") today an-
nounced the launch of its add-on Meter (switch on/switch off) cover available with Private Car
insurance policy. Following the launch, Kotak General Insurance becomes India's first company to
offer a cashback via an add-on for private car insurance policy.
On opting for the Meter (switch-on/off) add-on, users have to download the Kotak Meter Mobile
App available on Play Store or App Store, which allows the vehicle owners to switch their car
insurance coverage ON and OFF based on usage, at the click of a button.
Odysse Electric Vehicles inaugurates Mumbai’s largest

showroom of Electric Scooter and Bikes in Kandivali
Odysse Electric Vehicles Private Limited, a reputed manufacturer of electric scooters and bikes
has opened its brand owned second magnificent showroom in Mumbai. The showroom is situated
in Kandivali West and was inaugurated today in the presence of Mr. Uday Samant, Minister of
Industries of Maharashtra along with the Founders and other relevant industry veterans.
The 21st World Congress of Accountants’ Day 4 starts with powerhouse speak-
ers shedding light on India’s current green initiatives and India@100 vision
The Finale Day of the Olympics of Accountancy focused on the real world and the future of the
economy with regards to corporate, entrepreneurship and sustainability. Each session witnessed
players from respective industry and thought leaders sharing their thoughts and ideology on the
key topics that revolve around the economy, commercial laws, technology, robust plan for a devel-
oped future.
Financial Weekly TM

December 2022 71
Performance of “SMART PLUS NEWS LETTER”
Amazing 33% RETURN of our last News Letter Recommendation
SMART GAIN FOR SMART INVESTORS
Company Reccom. High after Ch. Company Reccom. High after Ch.
21-11-22 Recomm. (%) 21-11-22 Recomm. (%)
Autombile Corp. 940.85 960 2.04 ICICI Bank 920 938 1.96
Timken 3480 3519 1.12 HCL Techno 1103 1130 2.45
Cummins India 1344 1377 2.46 SBI 602.65 609 1.05
G.E. Shipping 624 641 2.72 Piramal Enterprise 789 797 1.01
Coforge 3808 3948 3.68 BOB 163 170 4.29
Honeywell Auto 40991 42303 3.2 Sanghvi Movers 287 298 3.83
Lumax Ind. 1782 1837 3.09 Canara Bank 309 328 6.15
Bharti Airtel 837 848 1.31 Gail (India) 90.3 92 1.88
Mazgaon Dock 819 881 7.57 CESC 72 74 2.78
Apollo Hospital 4398.05 4812 9.41 Simbholi Sugar 20.7 21 1.45
JMC Projects 122.4 127 3.76 Redington 171 176 2.92
Godrej Industries 407 420 3.19 BOI 75 81 8
Eimco Elecon 427 437 2.34 IRFC 27 30 11.11
HUL 2483 2547 2.58 UCO Bank 15 20 33.33
Glenmark 410 419 2.2 BHEL 70 74 5.71
If you want to get benefit of it..... Subscribe

SMART PLUS NEWSLETTER publishing on Every Sunday Evening
Log on to..... www.smartinvestment.in
Financial Weekly TM

December 2022 72
REVIEW OF Smart Bonanza Plus
Issue No. : 31 • Date : 23-11-2022
Company Reccom. High after Ch. Company Reccom. High after Ch.
23-11-22 Recomm. (%) 23-11-22 Recomm. (%)
BUY BUY BPS RAJA
IRFC 28 30 7.14 Alan Scott 64 74 15.63
NLC India 77 83 7.79 Emmessar 26 29 11.54
Visa Steel 15 16 6.67 Akshar Spintex 49 57 16.33
Hind Copper 112 114 1.79 RAPID FIRE STOCKS
Rain Ind 172 175 1.74 Schneider Ele 159 167 5.03
GSPL 237 260 9.70 RK Forge 219 221 0.91
Balrampur Chini 358 369 3.07 SMALL & BEAUTYFULL
Suprajit 329 334 1.52 CESC 72 74 2.78
L&T 2030 2054 1.18 Piramal Pharma 128 133 3.91
JB Chem 2041 2069 1.37 MID CAP BONANZA
HUL 2517 2547 1.19 Finolex Cable 552 566 2.54
Dalmia Bharat 1701 1738 2.18 Gabbrieal 176 182 3.41
PI Ind 3335 3390 1.65 LAMBI RACE
HDFC AMC 2098 2124 1.24 Reliance Ind 2566 2615 1.91
BULLSEYE L&T 2029 2063 1.68
Lumax Ind 1850 1879 1.57 GMM Pfauder 1909 1915 0.31
God Ind 407 430 5.65
for more detail click the below link

https://smartinvestment.in/service/9
Financial Weekly TM

December 2022 73
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Adani Ent 512599 3928 4100/4130 4000 3900 4190