Smart Investment English - 231126 - 105023

TM
Only Financial Weekly Published in

English & Gujarati Language
Editor : Dilip K. Shah

ARCHI PUBLICATIONS
311 to 313, Nalanda Enclave, Pritamnagar 1st Dhal, Ellisbridge,
Ahmedabad-6. GUJARAT, INDIA
Phone : 079 - 2657 66 39

Mob. : 9825306980 , 9825006980
E-mail :
smartinvest25@gmail.com
smartinvest25@yahoo.in
web : www.smartinvestment.in
Warning
Financial :- Your soft Copy isTM
Weekly for your exclusive use only. Any attempt to share your copy or forwarding
your copy to a non-subscriber will disqualify your membership & we will be compelled to stop your supply
and forfeit your subscription thereafter without any refund to you.
26thNamh
:: Shree Ganeshay November
:: 2023 to 2nd December 2023 2
Page
Only Financial Weekly Published in English & Gujarati
86
TM
GAMC No. :1703/2021-23. Issued by SSP Ahd. Valid up to 31-12-2023

VOL : 16 • Issue No: 42 RNI No : GUJENG / 2008 / 24320 26th Nov. to 2nd Dec. 2023
FII ACTIVITY (Rs. in Cr.)

DATE BUY VALUE SELL VALUE NET VALUE
20-11-2023 8776.18 9421.9 -645.72
21-11-2023 10471.83 10927.42 -455.59
22-11-2023 8111.73 8418.29 -306.56
23-11-2023 7348.72 7093.19 255.53
24-11-2023 8833.27 6208.06 2625.21
TOTAL 43541.73 42068.86 1472.87
DII ACTIVITY (Rs. in Cr.)
DATE BUY VALUE SELL VALUE NET VALUE
20-11-2023 6446.83 6369.06 77.77
21-11-2023 6361.92 5640.4 721.52
22-11-2023 6749.42 6028.18 721.24
23-11-2023 6234.47 5777.08 457.39
24-11-2023 6090.59 5956.13 134.46
TOTAL 31883.23 29770.85 2112.38
Most Popular Webstie for the Stock Market Investors
www.smartinvestment.in
Caution : Please note that your copy/access to our website is for your exclusive use only. Any attempt to share your
access to our website or forwarding your copy to a non-subscriber will disqualify your membership and we will be
compelled to stop your supply and forfeit your subscription thereafter without any refund to you.
Click on our website : www.smartinvestment.in

For More Detail E-mail to: smartinvest25@gmail.com
Financial Weekly TM
26th November 2023 to 2nd December 2023 3

Axita Cotton (NSE : Axita | BSE 542285) CMP : 27.74
Axita Cotton : Board approved 1:3 Bonus
issue of shares ; will attract Investors
Axita Cotton : Board approved 1:3 Bonus issue of shares on November 23, 2023
marking yet another stride in enhancing shareholder value
cent dividend for the
shareholders. Dividend
announcement reflects
Corporate
Feature
Axita Cotton’s ongoing
commitment to enhanc-
ing shareholder value
and its confidence in
sustained financial Company Financials
Market Cap Rs. 544 Cr.
Axita Cotton is one of the leading suppliers of growth. High / Low Rs. 83.0 / 24.7
organic cotton and organic yarn in domestic and Axita Cotton Limited’s Board ap- Stock P/E 24.1
international markets. The company is also help- proved 1:3 Bonus issue of shares on Book Value 2.96
Dividend Yield 0.36 %
ing educate farmers on sustainable cotton and November 23, 2023. Clear indication ROCE 49.1 %
organic cotton production to get better rates for of its robust financial position and its ROE 38.4 %
Face Value Rs. 1.00
their products. Axita Cotton Limited is a member dedication to rewarding its sharehold- Sales Rs. 873 Cr.
of Global Organic Textile Standard (GOTS), Or- ers. As the company continues to Dividend yield 0.36 %
navigate through its growth trajectory, Price to book value 9.31
ganic Content Standard (OCS) and Global Recycle ROCE 49.1 %
Standard(GRS). The company has presence this upcoming board meeting is Debt to equity 0.10
across the country and also in Bangladesh, China, poised to add another chapter to its Return on equity 38.4 %
EPS Rs. 1.15
Indonesia, Thailand, Vietnam, Europe, Morocco, story of success and investor-centric Profit after tax Rs. 22.6 Cr.
Singapore. approach. Qtr Sales Var 324 %
Qtr Profit Var 184 %
Axita Cotton Limited's board meeting will be Akshita Cotton Limited has been Price to Earning 24.1
held on November 23, 2023, to consider the dec- exporting raw cotton and cotton yarn Return on assets 18.0 %
to Bangladesh, China, Vietnam and Promoter holding 70.0 %
laration of bonus equity shares, marking yet an- Return over 3years 140 %
other stride in enhancing shareholder value. The some European countries for the past
primary agenda for the board meeting will be to 6 years and has built strong relation- its position as a leading raw
deliberate on the declaration of bonus equity ships with its customers in the coun- cotton producer and exporter.
shares. This move is anticipated to further bol- try. The company's commitment to Axita Cotton Limited
ster the company’s market standing and is seen quality, timely delivery and customer stands at the forefront of finan-
as a strategic step towards rewarding and retain- satisfaction has helped it become one cial prudence and shareholder
ing investor trust and loyalty. of the preferred suppliers. The value enhancement, with its
Axita Cotton Ltd. Has recently demonstrated company's focus on innovation and latest move to consider bonus
remarkable financial growth, with a significant in- sustainability has helped it maintain equity shares.
crease in net sales and profitability. The company’s
net sales reached Rs 388.77 crore in September
2023, a substantial increase from previous quar-
ters. The quarterly net profit stood at Rs. 6.51
crore, up by 183.97% from the previous year,
showcasing the company’s strong financial health.
The proposed declaration of bonus equity shares
is expected to further strengthen the company’s
relationship with its shareholders. This move,
coupled with the recent interim
Recently, the company also announced 10 per
Financial Weekly TM
D(en)O(f)W(ealth)
Superb Performance of our latest Recommendations
Date Stocks Recom. Remark
3rd November 22 REDINGTON Buy at 159 with stop loss of 140 Book full profit on 24th November at 175
7th November 22 NELCAST Buy at 93 with stop loss of 78 Book full profit on 5th December at 108
23rd November 22 RCF Buy at 109 with stop loss of 97 Book full profit on 24th November at 124
23rd November 22 WPIL Buy at 1215 with stop loss of 952 Book full profit on 13th Frbruary at 1631
25th November 22 FLEX FOOD Buy at 105 with stop loss of 95 Book full profit on 25th November at 109
25th November 22 IRB INFRA Buy at 255 with stop loss of 240 Book full profit on 29th November at 274
30th November 22 SIGACHI IND Buy at 290 with stop loss of 265 Book full profit on 9th January at 350
5th December 22 ARIES AGRO Buy at 150 with stop loss of 125 Book full profit on 28th December at 194
5th December 22 AMD IND Buy at 48 with stop loss of 41 Book full profit on 8th December at 57
9th December 22 DEEPAK SPINNERS Buy at 246 with stop loss of 225 Book full profit on 12th December at 261
12th December 22 COCHIN MINERALS Buy at 282 with stop loss of 245 Book full profit on 12th January at 316.55
13th December 22 MOREPEN LAB Buy at 32.3 with stop loss of 28 Book full profit on 22nd December at 36
22nd December 22 RDB RASAYAN Buy at 95 with stop loss of 75 Book full profit on 9th January at 104
28th December 22 CLSEL Buy at 135 with stop loss of 115 Book full profit on 6th February at 153
5th January 23 M&M Finance Buy at 237 with stop loss of 215 Book full profit on 6th February at 261
5th January 23 FLEX FOOD Buy at 99 with stop loss of 80 Book full profit on 9th January at 120
11th January 23 NCC Buy at 94 with stop loss of 83 Book 50% profit on 25 April at 115 and full profit on 3rd May at 125.5
8th March 23 NCC Buy at 95 with stop loss of 85 Book 50% profit on 25th April at 115 and full profit on 3rd May at 125.5
3rd April 23 VA TECH WABAG Buy at 363 with stop loss of 330 Book 50% profit on 25th April at 397 and full profit on 11th May at 421
5th April 23 DENIS CHEM LAB Buy at 72 with stop loss of 61 Book 50% profit on 10th April at 80 Then made a high of 141.3
25th April 23 EXIDE IND Buy at 191 with stop loss of 175 Book full profit on 17th May at 206
26th April 23 Gulshan Poly Buy at 253 with stop loss of 225 Book 50% profit on 3rd May at 273 later stop loss of cost clicked
2nd May 23 Star Cement Buy at 121 with stop loss of 105 Book full profit on 25th May at 135-136
16th May 23 TAJ GVK HOTELS Buy at 231 with stop loss of 205 Book full profit on 10th July at 268
24th May 23 HSCL Buy at 124 with stop loss of 110 Book full profit on 19th June at 134
7th June 23 IOLCP Buy at 457 with stop loss of 425 Book loss on 26th June at 425
15th June 23 MIDHANI Buy at 253 with stop loss of 235 Book full profit on 19th June at 278
21st June 23 HUDCO Buy at 61.5 with stop loss of 53 Book 50% profit on 25th July at 64.5 and rest 50% on 8th August at 69
27th June 23 GPPL Buy at 119 with stop loss of 110 Book 50% profit on 25th July at 124 and rest 50% on 8th August at 123
27th June 23 BDH IND Buy at 152 with stop loss of 142 Book 50% profit on 28th June at 160 and rest 50% on 4th July at 161
4th July 23 HCC Buy at 21.80 with stop loss of 17.5 Book 50% profit on 11th August at 26.3 and rest 50% on 22nd August at 26.25
20th July 23 SATIN CREDITCARE Buy at 184 with stop loss of 165 Book 50% profit on 25th July at 206 and rest 50% on 8th August at 224
27th July 23 GRANULES Buy at 317.5 with stop loss of 300 Book loss on 11th August at 300
1st August 23 IDBI Buy at 61.75 with stop loss of 54 Book 50% profit on 8th August at 64.5
10th August 23 JAIN IRRIGATION Buy at 52 with stop loss of 45 Book 50% profit on 21st August at 57 and rest 50% on 22nd August at 59
16th August 23 UFO MOVIES Buy at 108 with stop loss of 95 Exit at 106.5 level due to shifted in ESM 1
18th August 23 PENNAR IND Buy at 95 with stop loss of 85 Book 50% profit on 21st August at 103.5 and rest 50% on 22nd August at 109
18th August 23 RUCHIRA Paper Buy at 127 with stop loss of 115 Book 50% profit on 21st August at 130 and rest 50% on 22nd August at 137
18th August 23 SHILP GRAUER Buy at 127.5 with stop loss of 115 Book full profit on 21st August at 137
22nd August 23 NELCAST Buy at 127 with stop loss of 115 Book 50% proffit on 25th August at 136 and rest 50% on 1st September at 141
28th August 23 IOLCP Buy at 390 with stop loss of 360 Book 50% profit on 29th August at 410 and rest 50% on 30th August at 430
29th August 23 HFCL Buy at 72 with stop loss of 64
Subscriber will receive recommendation through Telegram

One Year Subscription charge for Dow Scheme Rs. 7000/-
Contact : (M) 98250 06980 & 98253 06980
smartinvest25@gmail.com , smartinvest25@yahoo.in
HDFC Bank : Current A/c No. : 00062560008858
Bank Beneficiary Name : Archi Publications
Details RTGS / NEFT IFSC : HDFC0000006
Navrangpura Branch, Ahmedabad-380009.
Only Financial Weekly Published in English & Gujarati
TM
GAMC No. :1703/2021-23. Issued by SSP Ahd. Valid up to 31-12-2023

RNI No : GUJENG / 2008 / 24320
According to the Indian Newspaper Society,

newspapers can collect fines from the
administrator of the WhatsApp group
It is illegal to broadcast PDF copy of
Newspaper on WhatsApp & Telegram group,
action can be taken on group admin
In the period of pandemic of Covid-19, Newspapers are facing
challenges related to distribution on the one hand, on the other
hand, their e-paper copy and digital piracy incidents have also in-
creased. This is causing loss of revenue to newspapers. In view of
this, the Indian Newspaper Society (INS) has warned that it is
illegal to download pages from e-papers of newspapers and circu-
late their PDF file in WhatsApp or Telegram Group.
Newspapers can take stringent legal and heavy penalties against
a person who illegally circulates on social media by copying e-paper
or portions thereof. Administrators of that WhatsApp or Telegram
group will be held responsible for illegally circulating e-copy of news-
paper in such a group.
Financial Weekly TM

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

Jatin Sanghavi
Market Scan (Mumbai)
(M) 098205 26455
jatinsanghavi100@yahoo.com
R-Zone Being Tested

Life-Highs in Sight
Nifty has seen a steady climb in the past two weeks and in the process overcome strong Resistances.
Currently, Nifty is testing the strong Resistance Zone in the form of Bearish Gap at 19848-19878. In the
process, Nifty has managed to close and stay above 19639 which is the 61.8% Reversal level of the entire
fall. As a result, Nifty will now challenge the previous life-high level at 20222. Also Nifty has managed to
close above the 20dma and 50dma and thereby turning the Short and Medium Term Trend positive.
CANDLESTICK ANALYSIS :- Entire past week has seen Nifty forming neutral formations and Friday
was no different as Nifty formed a small Black body Spinning Top. On the Weekly timeframe, Nifty has
formed a small white body Star formation. Both daily as well as weekly formations are neutral formations
and can be termed as indecisive.
SUPPORT ZONE @ 19582-19484 :- Nifty has strong Support at 19582-19484 which is due to confluence
of Bullish Gap (19579-19494), 50dma (19582), 20dma (19484) and 20 Weekly MA (19575). This Support is
strong due to confluence of so many Supports. But in case, if it gets breached, then Nifty will test the next
strong Support Zone at 19309-19276 which is a Bullish Gap on daily as well as weekly timeframe.
R-ZONE : 19848-19878 :- For more than one week, Nifty has been testing the strong R-Zone at 19848-
19878 which is a strong Bearish Gap. This Gap has acted as strong Resistance in the past and as a result,
there are multiple tops at this level. Once
this level is taken out, Nifty will progress
higher to target life-high levels, but in
the process will encounter another R-
Zone at 20050-20115 which is second
Bearish Gap.
PATTERN TARGETS STILL
ALIVE :- After forming second degree
Rounding Bottom, targets are at Nifty
20466-20759 & Sensex 69408-70515.
The bigger patterns for the Nifty are
Bullish Cup & Handle and Weekly
Rounding Bottom. The Targets for
This Week Recommendations
Weekly C&H are placed at Sensex Stocks CMP SL Tgt-1 Tgt-2
66978 (161.8%) -70769 (pattern) & Nifty
19925 - 21045. The Targets for Weekly Buy BPCL 410 400 426 443
RB are still intact and are at 69243- Buy PolicyBazar 823 803 855 889
73569 for the Sensex & 20718-22025 Buy IMFA 508 495 529 553
for the Nifty. Buy JSL 542 530 562 585
Buy BEL 140 137 145 151
:::: INDEX LEVELS ::::

S3 S2 S1 CLOSE R1 R2 R3
NIFTY 19223 19414 19601 19794 19979 20156 20336
SENSEX 64068 64768 65373 65970 66728 67336 67927
Financial Weekly TM

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

(Ring : 97690 37711) Twitter : @Kj_TechTrades
HDFC Life Insurance Company Ltd (Rs. 667.00)

Targets of 730 to 777 , Time frame 6 to 9 months
HDFC Life Insurance Company Ltd is an India-based life insurance company. The Com-
pany provides a range of individual and group insurance solutions across India.
The portfolio comprises of various insurance and investment products such as protec-
tion, pension, savings, investment, annuity, and health.
The Company offers long term savings, protection and retirement or pension products.
The Company offers a range of individual and group insurance solutions including partici-
pating, non-participating and unit linked lines of businesses. The portfolio comprises of vari-
ous insurance and investment products such as Protection, Pension, Savings, Investment,
Annuity and Health
The Company operates in three segments: participating (Par) segment products includes
endowment, savings cum protection and pension plans; non- participating (Non Par) seg-
ment products includes term protection, savings cum protection, immediate and deferred
annuity and health plans under Individual business and credit life, term life, fund based
pension, group variable plans under Group business; and unit-linked (UL) product includes
Unit Linked Life and fund-based Pension plans under Individual and Group businesses.
Financial Weekly TM

FSN eCommerce (Rs. 171.00)
Targets of 210 to 245 , Time frame 2-6 months
FSN E-Commerce Ventures is engaged in the business of manufacturing, selling & distri-
bution of beauty, wellness, fitness, personal care, health care, skin care, hair care products
on the online platforms or websites such as e-commerce, m-commerce, internet, intranet as
well as through physical stores, stalls, general trade and modern trade etc.
Nykaa is India’s leading omnichannel beauty destination that commenced operations in
2012. The company is headquartered in Mumbai. Nykaa is preferred since it is exclusively
focused on beauty, fashion and wellness products. The company offers a wide range of
products across various categories such as makeup, skincare, fragrance, haircare, per-
sonal care, bath and body, grooming appliances, health and wellness. Nykaa is essentially a
one-stop shop for all beauty, grooming and wellness needs.
It offers users a wide variety of brands to choose from. It includes local brands, premium
brands, luxury and prestige brands, international brands, and niche and cult brands. The
company currently has more than 2,400 brands on its platform. Users also gain in terms of
advice from experts and a range of informative videos.
Rapid Fire Stocks

Whatsapp@ 9769037711
to Join My Elite Annual Membership for
Short to Medium Term Stock Ideas in
Cash Equity and Futures n Options
Financial Weekly TM

Integra Essentia Ltd (Rs. 7.00) (BSE : 535958) (NSE : ESSENTIA)
Reports Robust Earnings for Q2FY24, PAT Jumps 248% YoY
Corporate SCAN
Integra Essentia Ltd., a prominent player en-
gaged in business of Life Essentials, in its board
meeting held on November 06, 2023, has ap-
proved the unaudited Financial Results of the
Company for the quarter and half year ended on
30 September 2023. Commenting on the Q2FY24 & H1FY24 Performance, Management added, "Integra
Essentia Limited is pleased to report robust financial performance for the second quarter of FY24. We are
delighted to share that our Revenue from Operations witnessed a substantial growth of 17.11%, reaching
Rs. 6689.71 Lakhs compared to Rs. 5712.55 Lakhs in Q2FY23. This impressive expansion underscores
our steadfast commitment to driving sustainable growth and delivering value to our stakeholders.
Our EBITDA exhibited remarkable progress, soaring by 420.98% from Rs. 211.11 Lakhs in Q2FY23 to
Rs. 1099.84 Lakhs in Q2FY24. Furthermore, our focused efforts on operational efficiency resulted in a
noteworthy improvement in EBITDA margins, escalating from 3.55% in Q2FY23 to 14.71% in Q2FY24,
marking an increase of 1116 basis points. This significant advancement showcases our dedication to en-
hancing operational excellence and maximizing profitability.
We are also pleased to announce a substantial increase in Profit After Tax (PAT), which surged by
248.71%, reaching Rs. 752.79 Lakhs in Q2FY24 from Rs. 215.88 Lakhs in Q2FY23. This notable growth is
a testament to our strategic initiatives and resilient business model.
Our outlook for the future remains positive, and we are committed to maintaining this momentum. With an
eye on the future, we aim to achieve sales of Rs. 2700 Million in this fiscal year, marking a robust growth of
about 15% compared to the previous fiscal year. As we continue to expand our business, this ambitious
goal reflects our vision of continued growth.
We extend our gratitude to our shareholders, clients, and dedicated team whose relentless efforts and
unwavering support have been instrumental in our success. As we move forward, we remain focused on
driving innovation, operational efficiency, and delivering sustainable value to all our stakeholders."
About Integra Essentia Ltd. :- Integra Essentia Limited specializes in Life Essentials such as Food
(Agro Products), Clothing (Textiles and Garments), Infrastructure (Materials and Services for Construction
and Infrastructure Development), and Energy (Materials, Products and Services for Renewable Energy
Equipment and Projects) and many more Products and Services required to sustain modern life. As a
company with a substantial role to play in creating and providing effective basic life materials and services,
Integratia Essentia Limited enhances aspiring living standards and opulent lifestyles through vide offerings
across Agro, Health and nutrition, Clothing, Energy and infrastructure, Bulk Materials, as well as other
lifestyle-related products. The company is promoted and managed by a core team of experts with diverse
experience relevant to the company's businesses and is continually expanding its business through acqui-
sitions of operational facilities. It is currently analyzing, comparing, and finalizing the acquisition of process-
ing facilities as part of its long-term plan to broaden its business interests. The securities of the Company
are listed on BSE (Scrip Code: 535958), and NSE (Scrip Code: ESSENTIA)
****
Financial Weekly TM

Research Report Het Zaveri
- Ahmedabad
Greaves Cotton
Greaves Cotton Ltd. is a diversified engineering conglomer- CMP Rs. 134.85
ate with a brand trust of over 160 years and a market leader in 52 - week high Rs. 165.00
fuel-agnostic powertrain solutions and manufactures 52 - week low Rs. 118.15
cleantechpowertrains for CNG, petrol and diesel segments. The Dividend %
Company operates in multiple segments: Automotive, Non- (consolidated) 0.67%
Automotive,Aftermarket, Retail, Electric Mobility, Technology ROE 4.91%
and Finance and in the non-automotive segment, the company BVPS (Rs.) 84.94
has a comprehensiveportfolio of products including gensets, Sales (Rs.) 176206cr.
farm and application-drivenindustries in marine and other in- Debt to Equity 0
dustrial applications.Company's brands include Ampere, ELE P/E ratio 37.40
and Greaves 3 Wheelers under Greaves electric mobility lim- EPS (consolidated) 3.37
ited, Greaves Finance, AutoEVmart, Greaves Care and P/B ratio 1.84
Greaves Spare under Greaves Retail, Greaves Technologies, Market Cap Rs. 3,130Cr.
Auto enginesunder Auto Application segment and Power, Agri, Face value Rs.2
Industrial and Light constructions under Non-auto Applications business under its Greaves Engi-
neering business.Company has a very strong network with presence in 25 countries backed by
20000+ Mechanic Network, 9000+ Retail Network and 7 factories located in TamilNadu,
Aurangabad and Greater Noida.Its international business comprises engines, Diesel Generating
(DG)sets, farm mechanization products, spare parts and constructionequipment through which it
operates in several industry segmentslike manufacturing, power, healthcare, infrastructure,
agriculture,services - both IT and non-IT, mobility etc.Its revenue mix consists of 97% from domes-
tic business and 3% from Overseas businesses. On sustainability front Greaves Cotton has deliv-
ered a real impact on the sustainability front by helping save over 35 million liters of fuel through
1.3 billion + electric kilometers driven by the company's customers. Greaves Electric Mobility reg-
istered 11.77% contribution through its brand Ampere Vehicles in EV 2wheeler sales out of the
total sales registered by the government.Company's ambitious plans includes promoting growth of
Greaves Finance and Greaves Retail with multi-brand retail stores offering 15+ EVs, 50+ models,
EV service and spares, in addition to EV financing for EV adoptionacross India and launching
futuristic vehicles in both 2-wheeler and 3-wheeler segments.
Cont...
Financial Weekly TM
Financial Results:
Company's Net Saleswas Rs 458.58 crore in September 2023 up 22.57%, Quarterly Net Profit
at Rs. 123.40 crore in September 2023 up 445.05% andEBITDA stands at Rs. 71.97 crore in Sep-
tember 2023 up 76.4%ascompared to March 2022.Company's EPS has increased to Rs. 5.32 in
September 2023 from Rs. 0.98 in September 2022.
Key Points:
Greaves Electric Mobility hs partnered with Flipkart to democratize EV adoption across the country
under which company will sell its EV 2Ws i.e., Ampere Magnus X branded Electric scooters in
Bengaluru, Kolkata, Jaiour and Pune in its pilot phase.
Greaves Electric Mobility Private Limited, a subsidiary of Greaves Cotton LimitedCompany has
allotted 68,35,450 (Sixty-Eight Lakh Thirty-Five Thousand Four Hundred and Fifty) equityshares
of face value INR 10 each representing 35.80% shareholding in the Company on a fully dilutedbasis,
to Abdul Latif Jameel, by way of preferential allotment through private placement basis for a
sharesubscription consideration of INR 1,171 Crores (USD 150 million).
Company has also acquired a majority stake in ExcelControlinkage Private Ltd., a leading In-
dian manufacturer ofmechanical and electronic motion control systems. Excel'sproducts are ex-
ported to over 80 countries using which Greaves Cotton will be able to strengthen their global
presence.
In Auto Expo 2023 Greaves Cotton showcases its EV might withsix new electric two and three-
wheelers along with its foraying intoelectric powertrains with a deployment of INR 1500 crores to
develop the Make in India EV ecosystem.
In Auto Expo 2023, the company has unveiled its Feature Rich Electric Ampere Two Wheelers
- Ampere Primus, the high-speed B2C e-scooter targeted atmodern millennials along with Ampere
NXG and Ampere NXU, Futuristic Greaves Electric Three Wheelers - Greaves ELP, the passen-
Cont...
Financial Weekly TM

ger e3w; Greaves ELC, the cargo e3w, Greaves Aero Vision, a futuristic cargo concept embodying
performance and efficiency.
The company has also collaborated with UK-based design company ETA Green Power to intro-
duce 'Made in India' electric powertrain solutions supported by world-class technology.
On International business front it has established new ties with several Europeanmanufacturers
for their requirements in Europe and CIS and it is in the advanced stage of collaboration in
SouthAfrica, which opens a whole new region for its products. It is also in the completion stage of
developing a Euro-V /Euro-V + engine for a customer in Europe and has already entered contract
manufacturing for enginecomponents for US-based customers.
Recently the company has marked its foray into the high-speed electric two-wheeler segment
with the launch of Ampere Primusat INR 1,09,900 (ex-showroom price*)which offers optimum safety
with LFP battery pack,improved performance with PMS motor, belt drive, and smart connected
cluster for seamless navigation.
Greaves Electric Mobility Private Limited (GEMPL)has achieved a remarkable milestone of over
2 lakh retailsales of its brand "Ampere" electric 2 wheelers in FY23.
MLR Auto Limited, a subsidiary of Greaves Electric Mobility PrivateLimited (GEMPL has an-
nounced its strategicpartnership with Vidyuttech, a leading financing platform and lifecycle man-
agement serviceprovider. Under the partnership, Vidyuttech will provide flexible financing for MLR's
electricthree-wheelers.
"Ampere" the electric two-wheeler brand of Greaves ElectricMobility Private Limitedhas entered
a collaboration with ReadyAssist, a leader in thevehicle assistance industry, bringing full-stack
after-sales and service support for its fleetcustomers. Under this agreement, ReadyAssist will cater
to Ampere's fleet of vehicles toensure smooth operations, minimal downtime, and maximum busi-
ness efficiency forAmpere's fleet customers.
Greaves Finance Limited, a non-banking financial company (NBFC)of Greaves Cotton Ltd, un-
der its brand evfin has announced its partnership withAther Energy, India's leading electric two-
wheeler manufacturerto offer first-in-industry financing solutions withBuyback for Ather two-wheel-
ers.
Greaves Retail has announced the launch of its complete range of e-rickshaw batteriesunder
the brand 'Power Raja by Greaves'with a focus on the burgeoning e-rickshaw industry, PowerRaja
batteries are poised to reshape the landscape of small-scale last-mile transportation.
Enigma Automobiles Private Limited, the electric vehicle (EV) manufacturerfrom Central India,
has announced its strategic partnership with AutoEVmart, a multi-brand EV retail storeby Greaves
Retailto acceleratethe sales and distribution of Enigma's impressive electric two-wheeler range
nationwide throughAutoEVmart's retail network.
Cont...
Financial Weekly TM

Bestway Agencies Private Limited (BAPL), a wholly-ownedsubsidiary of Greaves Electric Mo-
bility Private Limited, has announced a strategic collaborationwith Akasa Finance Limited, one of
the leading e-rickshaw financers in Indiato embrace cleaner and more affordable transportation
solutions.
Greaves Electric Mobility,announces the launch of electric cargo three-wheeler vehicle'Greaves
Eltra' with an enhanced power capability of 9.5 kW at peak performance providing optimal effi-
ciency for seamless cargo transportation.
In last3 Years the stock gave a return of 81.30%as compared to the rise of Sensex and Nifty in
the same period.
Greaves electric mobility is one of the top players in the last-mile electric mobility domain, cov-
ering 85% of the mobility segment in terms of volume with a presence in the E2W and E3W.
Company's foray into AutoEVmart business, Technologies business and NBFC business will help
the company to grow with an enhanced flow of income going further.Companyhas turned itself
completely debt free and promoters have also increased their holdings in the companyin FY23.
Company has a very good products and servicing portfolio filled with futuristics business such as
EV2W, EV3W, Battery manufacturing, EV financing, Aftermarket, Diesel engines and Technolo-
gies with growing presence in EV space backed by growth oriented strategic acquisitions, partner-
ships and collabs. Considering its good financial performance, growing presence in global mar-
kets as well as in domestic markets, growth of EV industry in India as well as globally and
Government's of India's push towards cleaner and greener mobility investors can park their funds
in this company for a long-term period.
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 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. Investors must take advice from their financial advisors
before investing in any stocks.)

Financial Weekly TM
Download our app

https://play.google.com/store/appsdetails?id=app.smartinvestment
Financial Weekly TM
Performance Report - Mid-term / Long-term

Stock Name Advise Price Target Stop Loss Holding %Return Advice date End date
Target Price Period
TBZ 115 130 95 2-3 weeks 13% 21-08-2023 12-10-2023
Yathrath Hospital 360 389 327 4-6 weeks 8% 23-08-2023 18-10-2023
Ion GPPL 129 140 116 4-6 weeks 9% 29-08-2023 17-10-2023
VPRPL 179 203 140 4 weeks 13% 12-09-2023 12-10-2023
Suryoday Small Banks 160 168 148 3-4 weeks 5% 15-09-2023 04-10-2023
Ceat 2090 2336 1975 4-8 weeks 12% 22-09-2023 17-10-2023
Jupiter Life Line hospital 1075 1150 1043 4-8 weeks 7% 25-09-2023 18-10-2023
Ace 680 750 650 4-8 weeks 10% 26-09-2023 27-10-2023
Raymond 1800 1902 1720 4-8 weeks 6% 26-09-2023 12-10-2023
Angel One 1860 1932 1785 2-3 weeks 4% 04-10-2023 05-10-2023
Suzlon 27 29.1 23.75 2-3 weeks 8% 04-10-2023 17-10-2023
JSW Infra 162.5 172 151 3-4 weeks 6% 05-10-2023 12-10-2023
Yatra 131 143 125 3-4 weeks 9% 05-10-2023 12-10-2023
PRUDENT CORP 1280 1378 1190 1-2 weeks 8% 09-10-2023 18-10-2023
Genus Power 252 269 236 3-4 weeks 7% 09-10-2023 12-10-2023
METROP0LIS 1500 1580 1580 2-3 weeks 5% 09-10-2023 18-10-2023
RED TAPE 488 557 432 2-3 weeks 14% 10-10-2023 18-10-2023
RCF 131 141 118 3-4 weeks 8% 12-10-2023 16-10-2023
Reliance 2270 2321 2200 3-6 weeks 2% 25-10-2023 30-10-2023
SHAREINDIA 1520 1775 1420 4-6 weeks 17% 01-11-2023 17-10-2023
Asahi Glass 553 582 530 3-4 weeks 5% 09-11-2023 12-10-2023
Sundramhld 123 134 112 2-3 WEEKS 9% 31-07-2023 03-11-2023
Exide 260 280 248 4-8 weeks 8% 26-09-2023 17-11-2023
Niyogin Fintech 72 82 69 3-4 weeks 14% 26-10-2023 09-11-2023
VEDL 217 242 205 1-2 months 12% 01-11-2023 10-11-2023
Gland pharma 1600 1720 1450 4-6 weeks 8% 06-11-2023 22-11-2023
Inox Wind 237 273 195 12-15 months 15% 12-10-2023 23-11-2023
GICRE 241 267 215 4-6 weeks 11% 16-10-2023 21-11-2023
HONASA 340 398 310 4-6 weeks 17% 20-10-2023 23-11-2023
Average Return 9%
Subscriber will receive recommendation through Telegram

For more information ring to.... M. 9825306980
E : smartinvest25@gmail.com / www.smartinvestment.in
https://www.smartinvestment.in/service/8
Financial Weekly TM

VISHAL BALIYA
(Co-Founder - Happy Candles Investment )
+91 7043469423 : Twitter Handle: @candles_happy ; Email: info@happycandlesinvestment.com
Smart School Article 53

Many Uses Of Charts : Part 3
(Look at a Particular Index Is Going and decide your stock action based on it's chart)
This week we will Continueour study of indices to have an 'Eagle Eye' on a particular
sector and how it is going to perform based on charts. Having an Eagle Eye from above on
the sector gives us an overall perspective how the group of companies with similar business
might perform. Having seen the performance or out performance of the sector we can than
fine tune our direction towards one or two top companies of that particular sector or the
companies that look best on charts in that particular sector so that we can maximize our
gains from the market. Investor has to understand that this is not a foolproof plan of investing
and lot of other things like fundamentals of the companies one is investing in and other
factors should be considered before investing. However more often than not when a sector
outperforms or an index out performs others indices generally companies of that particular
business segment tend to do well along with that particular index.
Vice versa if that particular sector is giving a breakdown or is sending weak signals on the
chart one can decrease allocation or exit the sector or investment in the sector if needed
based on the chart or fundamentals of that particular company. To do this one has to know
the charts well and understand buy and sell signals on the chart pretty well. To become an
expert in Techo-Funda analysis you can join Smart School initiative of Smart Investment.
Today we will have a look at Bank Nifty to understand this further. Below is the chart of
Bank Nifty:
Cont...
Financial Weekly TM
From the look at the chart we can understand Bank Nifty has taken support at 200 days
EMA and is going towards 50 days EMA. Once Bank nifty crosses 50 days EMA there can
be a very good rally seen in this particular index. The rally can be in the range of 2 to 8% is
what we can assume based on the resistances seen in the form of red lines on the chart. The
green lines in addition of 200 EMA are supports. Right now 50 EMA will act as a resistance
but if we get a closing above this 'Mother line', 50 EMA might also become a support. The
analysis presented here is for you to understand how support and resistances work and
should not be considered for buying or selling Bank Nifty. The purpose is to provide our
readers a perspective for looking always at the bigger picture. An investor should have the
knowledge of Micro and well as Macro causes effecting the investment.
Cont...
Financial Weekly TM

Having understood that Banking index might do well an investor can further have a look at
constituents of this index which are Hdfc Bank, Kotak Bank, ICICI Bank, PNB, SBI, Axis
bank, AU bank, Federal Bank, Bank of Baroda as well as Bandhan Bank. After having stud-
ied the technical and the fundamentals of all these companies an investor can further decide
where he can make a positional or long term investment. Such an approach will definitely act
as a safety net for investor. This kind of approach can also be compared to taking the
second opinion of a Doctor before going for any medical procedure.
Remember that now all the stocks in an index will move equally some will move faster,
some will move at the same pace, some will move slowly and some will not move at all or
move negatively. You have to be smart in selection of your stocks from the particular index
and you will surely be able to beat the market and Ace the Art of investing.
Disclaimer:
Investment in stocks and mutual funds is subject to market risks, please consult your
investment advisor before taking financial decisions. The data provided above is for the
purpose of analysis and is purely educational in nature.
- Vishal Baliya (Co-Founder-Happy Candles Investment)
- Mobile Number: +91 7043469423, YouTube: Happy Candles Investment Financial
Guidance
- Twitter Handle: @candles_happy, Instagram: happycandlesinvestment
- Email: info@happycandlesinvestment.com
Financial Weekly TM

PHYSICAL SHARE
• I.E.P.F. • Succession Certificate
• The physical share will be transferred in the name of the heir.
• Duplicate shares, missing shares
• Trasmission • Inheritance Certificate
310, Arista Business Space, Opp. Stellar, Sindhubhavn Road,

Boadakdev, Ahmedabad-380054.
+91-91737 15886
www.iepfadviser.com
Buy or Sell, Confused ?
Let the EXPERTS Help You
Join our Service for 1 Month & We are
Sure. You will be our Lifetime Member
Equity & Commodity Tips
Call Us : 91-9930011789 : www.shareinfoline.com
Financial Weekly TM

Equichain Wealth Advisors
Global Markets Nikunj Vithlani
nikunj200531@gmail.com
US Fed meeting minutes -

"Proceed Carefully"
In a Diwali special article, we have covered that this year focus will continue to remain on global
interest rate. At some point during 2024 interest rate globally will peak out and interest will start
declining later in 2024.
This week, we will focus on US Fed meeting held on 31-Oct-23 & 1-Nov-23, minutes of this
meeting was released this week and most fed members believe that interest hike done so far is yet
to show its full impact and now they should proceed carefully.
US Fed meeting minutes - Indicates pause

Federal Reserve policymakers at their most recent meeting united around a strategy to "pro-
ceed carefully" on future interest-rate moves and base any further tightening on progress toward
their inflation goal.
"All participants agreed that the committee was in a position to proceed carefully and that policy
decisions at every meeting would continue to be based on the totality of incoming information,"
according to minutes of the Oct. 31-Nov. 1 Federal Open Market Committee meeting released in
Washington Tuesday.
US central bankers held the benchmark lending rate in a range of 5.25% to 5.5% for the second
straight time, despite a run of data showing strong consumption and hiring, which fueled overall
economic growth.
"Several participants noted that an increasing number of district businesses were reporting that
higher interest rates were affecting their businesses or that firms were increasingly cutting or de-
laying their investment plans because of higher borrowing costs and tighter bank lending condi-
tions," the minutes said.
US 10-year bond yield @ 4.46 & Dollar Index @ 103.30

US 10-year bond yield before US Fed meeting outcome on 1-Nov-23 was trading around 5%,
which is now trading significantly below 5% level and currently trading around 4.50%.
Dollar Index was trading near 107 level, which is currently trading around 103.50 level indicates
interest hike may be over and interest rate may remain stable at current level.
Cont...
Financial Weekly TM

Equichain Wealth Advisors: Market View & Opinion
We see current phase in market as continue to focus on economic data globally which would
impact interest rate policy in next round of central banks meeting which will be staring with RBI
MPC meeting on 8-Dec-23, U.S. Fed meeting outcome on 13-Dec-23 & ECB & BOE meeting
outcome on 14-Dec-23.
We remain optimistic as recent turn of events do indicates interest rate hike cycle may over and
next global central banks will provide much needed confirmation which could trigger another round
of risk-on rally.
Equichain Wealth Advisors - SEBI registration number (RIA): INA000016472
Telegram channel: https://t.me/Equichain
Nikunj Vithlani
BUY.... BUY....BUY TIPS OF THE WEEK

Co. Name Code Price Co. Name Code Price
GMR Infra 532754 60.00 Dalmia Bharat 542216 2227.00
Union Bank 532477 106.00 Oberoi Realty 533273 1389.00
Engineers India 532178 145.00 KPI Green 542323 1214.00
Emkay Global 532737 116.00 Metropolish 542650 1658.00
PTC India 532524 156.00 L&T 500510 3054.00
NEW India Ass 540769 209.00 Ajanta Pharma 532331 1957.00
Hind Copper 513599 164.00 KEI Ind 517569 2805.00
Majestic Auto 500267 257.00 Hal 541154 2241.00
Welspun Corp 532144 516.00 TCS 532540 3457.00
Granules India 532482 387.00 Siemens 500550 3627.00
SunTech Realty 512179 490.00 Tube Investment 540762 3467.00
JSW Steel 500228 781.00 Divis Labs 532488 3763.00
LIC 543526 677.00 Bajaj Auto 532977 5929.00
Amara Raja 500008 678.00 Hitachi 543187 4836.00
Elecon Engg. 505700 956.00 Polycab 542652 5280.00
Financial Weekly TM

Chart Check
Your Stock Our Recommendation
HDFC LIFE INSURANCE:
Buy above 675 with sl of 650 target 740…830…970
TITAN COMPANY:
Buy above 3445 with sl of 3350 target 3736…3800…3900
Financial Weekly TM

DR.REDDY :
Buy at cmp with sl of 5550 target 6800…7200…8000
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

Future Options Diary
Nilesh Kotak (Ph. : 9227204076, 8866004076)
E :dhanvarshafincap@gmail.com / W : www.dhanvarshaindia.com
As long as Nifty stays above 19500, the overall trend of the market is
positive, while 19950 will act as an important resistance for the market.
Momentam Option Buy
Buy TCS Call Option 3460 Premium (78)
Momentam Cash Market 28.12.2023 expiry
Piramal Pharma ( 123 ) 7 To 12 Trading Sessions
7 To 12 Trading Sessions Buy Range : 65 - 70
Buy Range : 118 -120 Stoploss : 35
Stoploss : 110 Target One : 130 Book 50%
Target One : 128 Book 50% Target Two : 160 Balance 50 %
Target Two : 132 Balance 50 %
Technical Cash Market Buy
SELL
Momentam Index Sell
Balrampur Chini ( 460 )
7 To 12 Trading Sessions
7 To 12 Trading Sessions
Nifty Future 19975 28.12.2023expiry
Buy Range : 450 - 455
Buy Range : 19975 - 20000
Stoploss : 430
Stoploss : 20250
Target One : 472 Book 50%
Target Two : 485 Balance 50 % Target Two : 19650 Balance 50 %
Momentam Index Buy Technical Future Sell
Finnifty 19820 26.12.2023 Expiry SRF Ltd (2367 ) 28.12.2023
7 To 12 Trading Sessions 7 To 12 Trading Sessions
Buy Range : 19750 - 19770 Buy Range :2395 - 2400
Stoploss : 19650 Stoploss : 2465
Target One : 19975 Book 50% Target One : 2300 Book 50%
Target Two : 20050 Balance 50 % Target Two : 2270 Balance 50 %
Momentam Future Buyholding Period Momentam Option Buyholding Period
Bosch Ltd. ( 21078 ) Bharti Air Tel Put Option 980 Strike Price
28.12.2023expiry 7 To 12 Trading Sessions
7 To 12 Trading Sessions Cmp 18.25 Premium 28.12.2023expiry
Buy Range : 20875-20900 Buy Range : 15 - 16
Stoploss : 20450 Stoploss : 7
Financial Weekly TM

Integra Essentia Ltd • BSE: 535958 NSE : ESSENTIA • CMP - Rs. 7.00
Integra Essentia Ltd. Bags Advance Orders Worth INR 150 Million
from Sarveshwar Foods, Board to Consider Issue of Bonus Shares
Board of Directors to meet on
November 27, 2023, to consider a
proposal of declaration of Bonus
Shares to the Shareholders of the
Company, subject to requisite
approvals
Corporate SCAN
New Delhi: Integra Essentia Limited., a prominent player engaged in business of Life Essentials, is pleased to
announce that its agro business bagged advance orders amounting ~Rs 150+ Million from one of India's premier
business house - M/s Sarveshwar Foods Limited, and its material subsidiary M/s Himalayan Bio Organic Foods
Limited (Sarveshwar Group).
The company has nurtured a long-term understanding with most of its customers and is eying to supply Agro-
Products worth about ~Rs. 900 Million per year to the Sarveshwar Group which is an ISO 22000:2018 and USFDA
(United States Food and Drug Administration) certified company besides having BRC (biggest global standard for
food safety), Kosher, NPPO USA & CHINA along with NOP -USDA Organic certifications for its products.
To scale up the business operations for the Agro-based Products, the Company has been working on similar
long-term association with several prestigious business houses in India and overseas markets as well. As an
enduring sustainable business strategy, Integra Essentia Limited is aiming at synergetic amalgamations to tap into
the business potential embedded in the ever-growing demand of life essentials and a wide variety of life essentials
and lifestyle products, based on modern business approach of sourcing, producing and marketing of wide range of
bulk and speciality materials and services.
The company further announced that that its board of directors will meet on November 27, 2023, to consider a
proposal of declaration of Bonus Shares to the Shareholders of the Company, subject to requisite approvals. The
board will also consider fund raising, by way of issue of securities, convertible instruments, or any other method or
combination thereof, for cash or otherwise, and to seek members approval wherever applicable.
Integra Essentia Ltd. is a company engaged in business of Life Essentials i.e. Food (Agro Products), Clothing
(Textiles and Garments), Infrastructure (Materials and Services for Construction and Infrastructure Development)
and Energy (Materials, Products and Services for the Renewable Energy Equipment and Projects) and many more
Products and Services required to sustain the modern life.
To serve the society, nation and global requirement by exploring and utilising their available resources, deliver-
able at minimum cost to end users, the Company is committing significant investments in Food Essentials and
remains focused on establishing itself as the leading player in the foods industry. Besides food essentials and
other businesses, the Company is presently emphasising supplying bulk and speciality materials and services for
Infrastructure needs of the nation.
Integra Essentia Limited is a business with a substantial role to play both in creating and providing effective
basic life materials and services, and on the other hand to enhance aspiring living standards, opulent lifestyle
through its vide offering of Agro, Health & Nutrition, Clothing, Energy & Infrastructure, Bulk Materials and other
lifestyle related products.
Marching ahead on the fast-growth track, Integra Essentia Limited recently acquired the CHATEAU INDAGE
Winery, as a part of its long-term business growth strategy and to strengthen its presence in entire supply chain
spectrum of consumable goods. With the rise in disposable incomes, rapid urbanization, access to reasonably
priced domestic wines, the perceived health benefits of consuming low alcohol beverages, and changing consumer
attitudes have led to a significant increase in wine consumption.
The company is promoted and managed by a core team of experts of diverse experience relevant to the com-
pany businesses. The securities of the Company are listed on both the nationwide Stock Exchanges, BSE (Scrip
Code: 535958), and NSE (Scrip Code: ESSENTIA)
***
Financial Weekly TM

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

City Agent’s Name Mobile No. Landline No.
Ahmedabad Pocket Book Centre 098240 77668 079-25508732
Vinod Agency 098982 18921 079-25510104
Mohsin Mansuri 098250 35928 079 - 25350794
Anand Mistry News Agency 098251 73432 02692 - 251032
Iliyas Book Stall 091733 95801
Akola Vishnu Book Seller 072424 39444
Baroda Shreenath News paper 098982 40228 9106956769
Bhuj Modern Book Centre 9427434752 --
Baroda A.G. Vora & Co. 098240 95716 --
Bhavnagar Prem News Agency 094289 90615
Bharuch Falgun News Agency 098792 37236
Gandhidham A.H. Pandya 098252 37212 02836-220212
Jodhpur Sarvoday Book Stall 8107589141 0291-26533734
Jamnagar Paras News Agency 9426453636 2679597
Mehsana Mahalaxmi Pustak Bhandar 098256 36988 9428458678
Prakash Book Stall 8849416545
Mumbai Ashokbhai 9833831803
Mumbai -Matunga Alengo Book Stall 9870277195 --
Navsari Jaydeep News Agency 098983 59235
Nadiad Nadiad Rly. Book Stall 087349 55156
Rajkot Thakkar News Aghency 099241 33518 0281-2233518
Surat Surat Book Centre 0 98790 44220 0261-2431158
Udaipur Kailash Book Center 098291 36695 0294-2561145
VAPI Om News Agency 099242 84109
Valsad Paresh News Agency 091733 59444
More detail about Subscription visit on our website

Financial Weekly TM

SMART
BUY OF THE WEEK
Dark Horse
Dark Horse-1
HINDUSTAN ADHESIVES LTD

ONLY AT BSE CODE - 514428
BSE SYMBOL - HINDADH (Face Value Rs.10)
Incorporated in 1988, Hindustan Adhesives Limited is a leading manufacturers & exporters of
self-adhesive tapes, tear tapes and polyolefin shrink(POF) film. The Company's adhesive tape
products include self-adhesive tear tapes, carton tear tapes, tear tapes, packaging tapes, conve-
nience tapes and security tapes. Its self-adhesive tear tapes can tear apart all types of over-wrapped
packages be it cigarettes, chocolates, biscuits, audio or video tapes. Its carton tear tapes are used
by corrugated industry for making paper for producing cardboard cartons.
HINDADH has an equity base of Rs.5.12 cr. supported by reserves of around Rs.63 cr. The
promoters hold 68.48% in its equity, which leaves 31.52% stake with the investing public.
HINDADH are the world's leading manufacturers various tapes & POF with a global Supply in
more than 41 countries, supported by innovation led engineering with 5 state of the art factories in
INDIA & 16 international sales offices.
Due to sharp jump in online sales demand of company's products are in big demand &
due very big demand for its all products in INDIA & in aboard, HINDADH has reported excel-
lent Q2FY24 numbers. Its PAT is up 110.32% to Rs.3.87 cr. from Rs.1.84 cr. on higher sales
of Rs.81.11 cr. fetching an EPS of Rs.7.56. For H1FY24, the PAT zoomed 64.63% to Rs.8.10
cr. from Rs.4.92 cr. on sales of Rs.162.21 cr. fetching 6 months EPS of Rs.15.82 & due to
very good demand for company's products yearly EPS may come Rs.39+++. Company has
reduced the debt.
Based on the above financial and performance parameters, the HINDADH share looks quite
attractive at the current level & Investors Can watch stock with a strict stop loss of Rs.250.The stock
can give very good returns in short to medium term.
In DIPAWALI issue Morepen Lab given at Rs.36 which hit Rs.47 on Friday 24TH Novem-
ber, a return of 31% in just few days.
Cont...
Financial Weekly TM

Dark Horse-2
RAM INFO LTD.

ONLY AT BSE - CODE 530951
BSE SYMBOL - RAMINFO Rs.103 Face value Rs.10
Dividend paying 25 years old RAMINFO is one of the leading providers of technology solutions
for some of the premier organizations across Government, Fintech, Healthcare, Smart energy &
analytics and engineering services.
23 HNIs hold 15.66% stake in equity of Rs.6.71 cr. on hope of Artificial Intelligence may
prove game changer for business. RAMINFO has made a strategic decision to enter India's
thriving Drones industry. In October RAMINFO has bagged a work order valuing at Rs.4.21
cr. from Government of Tripura to supply mobile common services centers.
In H1FY24 company posted PAT of Rs.3.67 cr. on sales of Rs.36.24 cr. giving an yearly EPS of
Rs.11. ROCE & ROE are 31.5% & 23.5%.. Company has reduced the debt & now almost debt free.
Company has delivered good profit growth of 39% CAGR over 5 years.
Based on the above performance RAMINFO looks quite attractive at the current level. Investors
can watch RAMINFO with strict stop loss of Rs.91. The stock may give good returns in short to
medium term.
Financial Weekly TM

SME STOCK WATCH
Annapurna Swadisht Ltd.
NSE SME - SYMBOL - ANNAPURNA Rs.320
Face value Rs.10 Market lot 500shares.
Kolkatta based fast growing FMCG food company Annapuna has total 6 manufacturing unit at
Asansol, Jalpaiguri, Dabgram, Hooghly, Howrah & Mathura & manufacture various snacks &
namkeen, cake, fryums, Potato chips, sweets & savouries.
On 22th November Annapurna informed NSE that company has decided to acquiring 100%
capital of Annapurna snacks pvt. Ltd.
Compounded sales growth of company is 127% & profit growth 176% in 3 years. Debtor
days have improved sharply to 46 days from 119 days.
For H1FY24 sales shoot up by 98% to Rs.131 cr. from Rs.66 cr. in H1FY23 & PAT shoot up
by 128% to Rs.6.56 cr. from Rs.2.88 cr. in H1FY23. Long term borrowing reduced to Rs.2.22
cr. from Rs.6.27 cr. & Non Current assets improved by 86% TO Rs68.83 cr. from Rs.37.03 cr.
in last 6 months.
Investors can watch Annapurna with strict stop loss of Rs.270. The stock may give good
returns in medium to long term.
Financial Weekly
Every Sunday Every Wednesday
English & Gujarati Edition Gujarati Edition

Financial Weekly TM

- Parag Salot
Technical Trading Trends (SEBI Registered Research Analyst)
M. : 91-9930011789
Nifty Overview : In Last Trading Session, Nifty closed at 19826. Nifty is trying to break the previ-
ous high but is finding difficult. A sudden move above 19900 levels may give a good push to Nifty in
breaking new highs. Nifty resistance is at 20250 levels while support is at 19750/19550 levels.
Bank Nifty Overview : In Last Trading Session, Bank Nifty close at 43805. Currently, It is at sup-
port. If it finds support here then bounce back till 44300 can be seen. If Bank Nifty is able to sustain
above 44300 then it will be more bullish and can go till 44900 levels which is resistance for Bank
Nifty. Below 43580 levels, Bank Nifty becomes weak an next support for Bank Nifty is 43300/42900
levels.
Trading Results
Scrip Name BSE Code Buy / Enter at Did High/ Remarks
Sell Low
ABFRL 535755 Buy 213 233 Target Achieved
Delta Corp 532848 Buy 135 140.45 Did High
IEX 540750 Buy 136 149.65 Target 1 Achieved
MCX 534091 Sell 2950 2850.55 Almost 2nd Target
Trading Buy
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Aarti Ind 524208 531.60 523/527 540 555 515
Delta Corp 532848 137 132/135 145 155 127
Gujarat Gas 539336 426 417/422 435 446 412
IEX 540750 142 133/137 144 152 127
Laurus Labs 540222 374 360/365 385 395 356
Voltas 500575 825 815/820 845 865 804
Wipro 507685 396 387/392 405 425 382
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

Smart Education - Yog Joshi
Technical Analysis
From
Basic to Advance
NIFTY-50 Fibonacci Analysis Levels - 2024
(Weekly Chart)
Hello Friends,
This is a special article on Fibonacci Analysis of NIFTY-50 chart on the request from my somany
readers and webinar friends regarding upcoming probable down side and up side levels for Nifty-
50 index for year 2024
As you all know that Fibonacci is an excellent numerical series, found everywhere in nature as
well as surrounding of us also, we already discussed in detail about the use of Fibonacci in Tech-
nical Analysis under Fibonacci retracement and Fibonacci extension and how it helps us to fore-
cast probable down side and up side support and resistance level for particular any underlying
assets like Stock, commodity currency etc.
Looking on the Nifty weekly chart, it has been clearly observed that Nifty bounced back from
Fibonacci retracement support level 38.2% (18922), it considered as a good sign for upcoming
reversal and it might be get some resistance at 19850 to 20200
Now looking on the positive side, if NIfty able to cross its lifetime high level 20222 and able to
Cont...
Financial Weekly TM

close and sustain above 20250, it will be consider as a new up side movement has been started
and as per the Fibonacci extension, NIfty might be achieve new high like 21000, 21500 to 22250.
Now looking on the down side, if NIfty break its previous bounce back level of 18922, so as per
the retracement level, 18500, 18100 to 17500 levels might be possible at down side
Nifty MACD Analysis : Looking on the MACD analysis, its has been clearly observed that Nifty
is in Up trend in longer time frame (Weekly Chart) but currently passing through under correction
phase, if we get bullish crossover in MACD where blue line cross red line above zero like, it has
been considered as a bullish crossover and sign of new up trend get started.
NIFTY RSI Analysis : Looking on the RSI analysis, it has been observed that RSI has bounced
back from its support line at the 50 level and is currently at a growing stage, which is considered as
a good indication for upcoming bullish sentiments.
So looking on the Nifty chart and observed from Fibonacci, MACD and RSI, we can conclude
that NIfty is in up trend in longer time frame but currently passing through correction phase, if we
get bullish crossover in MACD as discuss above, that will be considered as a positive sign of next
up trend might be start.
This analysis is based on the Fibonacci Analysis of Nifty-50 weekly chart
I hope, you all find this article informative and it helps you as a ready reference for the support
and resistance levels for the year 2024.
Buy... Buy... Buy on Dips Hold Sell on High

Piramal Pharma 123.00 Axis Bank 1008.00 3i Info 47.00
REC 338.00
Edelweiss 70.00 Indian Bank 408.00 QuickHeal 352.00
Swan Energy 421.00
RattanIndia Ent 77.00 Wipro 395.00 Ashoka Buildcon 134.00
CSB Bank 379.00
Man Infra 186.00 Affle India 1096.00 Eris Life 924.00
CGPower 429.00
Compucom Soft 35.00 ICICI Bank 929.00 Motilal Oswal 1125.00
EID Parry 536.00
Bliss GVS 146.00 Hero Moto 3546.00 Black Box 252.00
Supriya Life 276.00
Indian Terrain 63.00 HCL techno 1308.00 M&M Fin 263.00
Garden Reach 833.00
Peninsula Land 48.00 Thyrocare 568.00 Manappuram Fin 147.00
PFC 315.00
Kokuyo Camlin 161.00 Cipla 1198.00 Paytm 893.00
Sheilby 349.00
Anik Ltd 59.00 Divis Lab 3763.00 Onward Tech 592.00
GIC 201.00
Atlanta 21.00 ACC 1820.00 Mphasis 2322.00
Sterling Wilson 340.00
Take Solutions 22.00 Shriram Fin 1947.00 Oracle 4031.00
CFF Fluid 418.00
Jaiprakash Power 13.00 Bharat Forge 1115.00 Raymond 1649.00
Godrej Agro 496.00
Financial Weekly TM

SERVOTECH POWER SYSTEMS LTD
CMP - Rs. 79.00 • Scrip code - NSE - BE : SERVOTECH
Bags Order from BPCL for 2649 EV Chargers
Corporate SCAN
New Delhi, 22 November'2023: Servotech Power Systems Ltd., the leading manufacturer of EV Chargers in
the country, has bagged 2649 AC EV charger orders from Bharat Petroleum Corporation Limited (BPCL). The
company will be responsible for manufacturing, supplying and installing 2649 AC EV Chargers strategically
across the nation, equipping petrol pumps in major Indian cities under the BPCL E-drive Project, playing a key
role in the widespread implementation of EV charging solutions. The range of EV chargers includes 3 kW and 7
kW for this project. The manufacturing and production of these AC chargers has already begun and the supply of
the chargers will begin from December 15th and will be completed within three months.
Servotech Power Systems and BPCL had previously worked together to transform the E-Mobility landscape.
The company also supplied and installed 800 units of 30 KW DC fast EV Chargers at different locations across
the country for BPCL's E-drive project. Servotech Power Systems will oversee the installation, commissioning,
and upkeep of AC EV chargers and this initiative aims to establish e-mobility touchpoints that streamline trans-
actions, enhance availability, facilitate discovery, and simplify navigation for EV users, ensuring convenient
access to the EV charging network.
Sarika Bhatia, Director of Servotech Power Systems Ltd., commented on this announcement, "We are honoured
to lead India's E-Mobility revolution in partnership with BPCL, collaborating closely to establish an energy corri-
dor enabling on-the-move charging for electric vehicles across India. The company's state-of-the-art AC EV
Chargers will contribute to the realization of India's ambitious goals in the E-Mobility sector. Implementing these
chargers will not only enhance the convenience of EV charging but will also contribute significantly to reducing
the carbon footprint associated with transportation. As India continues to embrace
electric mobility, Servotech stands committed to driving innovation in EV charging
technology, supporting the nation's transition towards a cleaner and more sustain-
able transportation ecosystem. This step will undoubtedly be a significant mile-
stone, paving the way for a robust and expansive charging network, essential for
the future of high-capacity EV charging". Servotech Power Systems is an NSE-
listed organization that develops tech-enabled EV Charging solutions leveraging
their over two decades of experience and expertise in the electronics space. The
company offers an extensive range of AC and DC chargers which are compatible
with different EVs and serve multiple applications such as commercial and do-
mestic. With its comprehensive engineering capabilities, the company plans to
play a pivotal role in developing India's EV tech infrastructure. A trusted brand
with a strong pan-In-
dia pre senc e,
Servot ech Power
Systems' legacy is
marked by proven
innovation and dis-
tribution of high-end
LED light ing and
UV-C disinfection
products, along with
medical-grade oxy-
gen concentrators
and its makings.
***
Financial Weekly TM

TECHNICAL TALK
Dhananjay Kadam - TECHNICAL ANALYST
Corrections are Temporary, Growth is Permanent
NIFTY 19794.00 :- Nifty made new lifetime high but not continued upside rally. Big profit
booking seen In mid cap and small stock after Nifty's lifetime high. Nifty made a high of 20222 and
started downside movement at the same time all global markets started downside movement. Nifty
made a low of 18837 and next day it opened gap up and closed with a gain of 1.01% . Nifty Made
low exactly near past support of nifty and came upside so we can say it's good proven support for
nifty. After that same upside rally continued by Nifty and made a high of 19875 which is past Resis-
tance.
Today on Friday Nifty closed with nominal loss. Now the nifty trend started sideways. Now if
nifty will close above 19875 then upside possible otherwise it may come down from this resistance
level.
Next upside rally will come in the Realty , Chemical, Paper and Power sector and PSU compa-
nies, so, find out stocks to trade from these sectors.
Cont...
Financial Weekly TM

BANKNIFTY (43769) :- Last month BANKNIFTY started a downside rally from 46310.
Last week on Thursday BANKNIFTY made a low which was near to past support of 42000. Today
it opened a gap up and closed with a gain of 0.44%. Today BankNifty closed above past support.
If in the coming week it will close below 43300 then next support will be 42000. BankNifty can
trade in the sideways zone between 43300 to 44600 in this coming week.
ASHAPURAMIN (357.00) :- Incorporated on 19th February 1982, Ashapura Minechem

Ltd. is engaged in the mining, manufacturing and trading of various minerals and their derivative
products. The company offers multi-mineral solutions across several industries from soaps to steel,
energy to edible oils, metal to medicine and cement to ceramics.
The company's products include Bentonite, bauxite. Calcined China clay, ground calcium car-
bonate and China clay kaolin. It's products are used in range of industries such as manufacturing
of aluminium metal, cement, iron ore pelletization, foundries , oil well drilling, paper pants, oil puri-
Cont...
Financial Weekly TM

fication and hydraulic factoring and other the companies products are used in the areas of drilling
metal, casting, constructions and pet litter. It offers activated bauxite for purification of lubricant oil
and transformer oil. The calcium China clay develops various grade koolin hydros semi and fully
calcium with specifications. The company has activation mining and processing plants in various
locations in India the company has interest in Antwerp, Azerbaijan, Brazil, Nigeria and Malaysia.
Ashapura Holdings (UAE) FZE (a step-down subsidiary of Ashapura Minechem Ltd.) concluded
& signed 2 contracts for the supply of Bauxite from Guinea and Ashapura Guinea Resources SARL
(a step-down subsidiary of Ashapura Minechem Ltd) concluded & signed a contract for the supply
of Iron Ore from Guinea.The two contracts for the supply of 24,00,00,000 tons or 24 million tons of
bauxite from Guinea were signed with a subsidiary of the Chinese aluminium major, State Power
Investment Corp (SPIC); the first contract, a 3 million tons per annum supply contract for 3 years
and the second contract, a 3 million tons per annum supply contract for 5 years.SPIC, a Fortune
Global 500 company, is one of China’s largest state-owned conglomerates having total assets of
USD 112 billion integrated over nuclear power, thermal power, coal, aluminium, logistics, finance,
environmental protection and high-tech industries.
The contract to supply 10,00,00,000 tons or 10 million tons of iron ore was signed with Tai He
Mining, whereby 2 million tons per annum of iron ore will be supplied for 5 years.Tai He Mining is
a Chinese Iron Ore major with the latest technology to upgrade & process iron ore. These contracts
offer Ashapura the opportunity to set aside a part of its production from Guinea towards stable long-
term commitments.
The company has a market cap of over Rs 2,900 crore with a 3-year stock price CAGR of 55 per
cent. According to the Quarterly Results and annual results, the company reported excellent
numbers.The shares of the company have a PE of 65.55x and a ROE of 296.62 per cent.
The stock gave multibagger returns of 220 per cent in just 6 months whereas BSE Small-Cap
Index is up by 38.38 per cent. Investors should keep an eye on this mineral manufacturing stock.
On the weekly chart the company showed a good bullish UP Trend. Now on the weekly price
chart it made a good Bullish price pattern that is Bullish flag as per this price pattern target of this
stock is 510. We can buy this talk in between 335 to 360 with a weekly closing basis stop loss of
295 for the period of 9 weeks.
SHALBY LTD (317.00) :- Company is engaged in healthcare delivery space in India. It

operates a chain of multi-specialty hospitals across India. It is one of the top Indian hospitals in
joint replacement surgery. Engaged 1500+ doctors & offer diverse healthcare services. Company
operates 15 hospitals across India with majority being in the state of Gujarat, Rajasthan and MP
with a total bed capacity of 2,000+ beds. It also owns 60 outpatient clinics across 16 states in India
Cont...
Financial Weekly TM
& 5 OP clinics in African Countries & 4 franchise units. Company has 30 Specialities, including 13
Centres of Excellence (COE), which include: Arthroplasty, Cardiology, Intensive & Critical Care,
Nephrology, Neurosurgery, Obstetrics & Gynaecology, Oncosurgery, Orthopaedic & Trauma, Spine
Surgery & more. Total bed capacity: 2000 beds., Growth in Inpatient 21.6% YOY., Growth in Out-
patient 9.3% YOY., Occupancy rate increased to 54% in Q2FY24., Revenue at Rs. 238Cr??1.27%
QOQ & Rs 17.82% YOY. PAT at Rs 28 Cr Rs 33.3% QOQ &??55.5% YOY. OPM at 22% vs 18%
last year Q2. TTM EPS at Rs 2.55
Aims to achieve an EBITDA margin of 25% for the hospital business.
Company has two upcoming facilities with a total of 321 beds in Maharashtra.
On the daily price chart stock made a good bullish price pattern that is Bullish Flag and as per
this pattern target of this stock is 355-370. We can buy this stock between 312-318 with a daily
closing basis stop loss of 295 for the period of 22 days.
Financial Weekly TM

BETWEEN THE LINES
RAVI B GUPTA (SEBI REGISTERD RESEARCH ANALYST)
111GUPTARAVI@GMAIL.COM
From last weeks recommendation 5 out of 5 are able to provide profit.
After considering various observation there are some options and stocks which may pro-
vide benefit with good risk reward. Do work with stoploss method, if SL has not been pro-
vided then trade with your own risk rewarding method.
Please note that levels may affected on any global uncertain event on which technical
charts are subject matter of re-study.
NIFTY : Considering the current chart pattern nifty facing selling pressure on higher
levels. Sell below 19795 for targets of 19750 19710 19650 19550 and 19400 in one week.
Set stoploss of 19860 on closing basis.
Or one can sell nifty around 19945 having a stoploss of 19985 and targets are 19900
19820 19750 19710 in one week.
BANKNIFTY : After crossing the major resistance banknifty is sustaining at the higher
level on weekly bases. Banknifty can move towards 43950 and 44300. Aggressive trader
can take a chance to sell BankNifty around 43950 with a stoploss of 44080. Where as safe
traders should wait for 44300 levels to short banknifty with a stoploss of 44440 on closing
basis. Both the time we can expect 220 500 and 800 points fall from given levels.
REC : After Continuous rise from 130 to 350 now this stock is taking rest at higher level.
For some corrections wait for sell around 341-343 with a stoploss of 346 and targets are 337
333 329 and 324 in 3 to 4 days.
RELIANCE : In majorly sideways market reliance is consistently moving higher side.

2415-2420 are resistance zone which can attract the seller for selling. Sell at this level with
stoploss of 2425 having a target of 2400 2385 2360 in one week.
TCS : Despite having IPO and buyback of the inline company, stock has corrected
around 1.5% on friday. We can buy it around 3400-3390 levels, having a stoploss at 3370.
Target can be placed at 3430 3465 and 3700 for one week.
Financial Weekly TM

Terrific Shots - Dilip K. Shah
D-Mart (Rs. 3836.00) (Code: 540376) :- The company was established in 2002 by
Big Bull Radhakishan Damani. The company has given superb returns to its investors since its
IPO. It has stores at 336 locations. It has emerged as the king of the retail sector despite competi-
tion from the likes of Reliance, Birla, and Future Group. Its shares touched a 52-week high of Rs.
4225 and low of Rs. 3922. It has a market cap of Rs. 2,49,664 crore. In the September quarter, its
income went up from Rs. 10,638 crore to Rs. 12,624 crore, while profit fell from Rs. 686 crore to Rs.
623 crore. Operating profit was Rs. 1005 crore and EPS was Rs. 9.58. For the first half, sales rose
from Rs. 20,676 crore to Rs. 24,490 crore, and profit from Rs. 1050 crore to Rs. 1282 crore. Its
equity is Rs. 651 crore. Promoter holding is 74.64%. DIIs and foreign investors hold 8.25% and
6.67% stakes respectively. The stock has corrected significantly from the highs and offers a good
investment opportunity. The company’s RoE is 16% and RoCE is 20.1%.
KPI Green (Rs. 1214.00) (Code: 542323) :- The shares are listed in B group and
have a face value of Rs. 10. The shares touched a 52-week high of Rs. 1262 and low of Rs. 378.
The company’s market cap is Rs. 4426 crore. Promoter holding is 54.83%. The company had
issued one bonus share for every share held earlier in the year. Its equity is Rs. 36 crore and
reserves are Rs. 289 crore. KPI Green announced bumper results for the September quarter, with
income rising from Rs. 160 crore to Rs. 215 crore, and profit from Rs. 21 crore to Rs. 35 crore.
Operating profit rose from Rs. 53 crore to Rs. 71 crore. For the first half, income jumped from Rs.
282 crore to Rs. 404 crore, and profit from Rs. 43 crore to Rs. 68 crore. The stock is trading at a P/
E multiple of 32.8. Its RoE is 53.4% and RoCE is 24.7%. The future of solar power is bright and the
stock can deliver bright returns going ahead.
KSB (Rs. 3288.00) (Code: 500249) :- KSB is a leading pump and valve manufacturer.
The company began with irrigation and process division and gradually expanded to foundry, power,
valves and pumps. The company follows the December quarter as the year-ending quarter. In the
first nine months of the fiscal, its income rose from Rs. 1297.4 crore to Rs. 1644.6 crore. Profit went
up from Rs. 126.8 crore to Rs. 153.8 crore. Promoter holding is 66.69%, of which Canadian Kay
Pump owns 40.54%. DIIs and FIIs hold 10.88% and 3.51% shares respectively. The A group listed
shares touched a 52-week high of Rs. 3390 and low of Rs. 1706. The company’s market cap is Rs.
11,425 crore. The company is poised to deliver excellent results going ahead. Investors can put
money in the stock in 2-3 tranches.
Triveni Turbine (Rs. 415.00) (Code: 533655) :- Triveni Group has an interest in
diversified segments such as engineering, clean water solutions, distribution, and sugar. The tur-
bine business came into existence following a de-merger. The company has the capacity to build
steam turbines of up to 100 MW. It is a market leader in manufacturing steam turbines of up to 30
MW in India and a global leader in turbines of 5-30 MW. It has a share of 60% in the domestic
market in the industrial steam turbine segment. It has supplied more than 5,000 steam turbines to
200+ industries in over 80 countries in Europe, Africa, and Central and Latin America. It caters to
diverse industries like biomass IPP, palm oil, paper, sugar, textiles, metals, cement pharma, chemi-
cals, petrochemicals, fertilisers, etc. The share of exports has gone up from 30% in 2022 to 45% in
2023. For the September quarter, it reported income of Rs. 387.77 crore, and net profit of Rs. 64.03
crore. Promoter holding is 55.84%. Its order book was at Rs. 1,480 crore as of September-end. The
stock can be bought with a target price of Rs. 483 in 3-4 quarters with a stop-loss of Rs. 360.
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

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.
Required Details :
Stock Name:
NSE/BSE code:
Note: This service is exclusively for Smart Investment Subscribers.
We will take maximum 3 recommendations per week so if you want
to see recommendation of your selected stock in next week's news-
paper then send the required details on our email id:
info@smartinvestment.in.
For any query email us on
Smart Investment Website Index
26,666 hits only 1 Week
Total number of Hits
2,06,66,666
Kuber Bhandar of earnings
Future - Options, Stock - Watch, Funda - Picks,
Technical Shares, Speculative Scrips, Primary Market,
Financial Weekly TM

Sarvesh Ashok Trivedi
Stock Wave (Mumbai) (Mob) 09820728124
www.chartsanketstock.com
Important supports for Index 65547
and Nifty Future 19718
BSE index (65,970.05) :- It is moving upward from the bottom of 63092.98. It shows an over-
bought position daily basis and weekly basis, while an overbought to neutral position on the monthly
basis. On the upward movement, beyond 66,235 and 66358 it may go up to 665070, 66,880, 6
7250, 67,590 And 67,927. On the downward movement, below 65547 it may go down to 64853
and 64,535. The market may be affected by results of Assembly Elections.
Bank nifty (43,795.00) :- It shows an upward movement from the bottom of 42067. It shows an
oversold position on a daily basis, on neutral on the weekly basis and towards an oversold on the
monthly basis. On the upward movement, once it crosses 43900 and 44553, it may go up to 44585
and 44660. On the downward movement, below 43375 and 43355, it indicates weak market posi-
tion. Below this level support could be at 43000.
Nifty future (19825 .00) :- it shows improvement from the bottom of 18840.55. It shows an over-
bought position on a daily basis and weekly basis, while an overbought to a neutral position on the
monthly basis. On the upward movement, Beyond 19222 and 19934, it may go up to 19950, 20060,
20170 And 20270. On the download movement, below 19755 and 1978 indicates weak position,
and below this it may go down to 19570, 19535 and 19375.
Aarti industries (531 .45) :- It shows an improvement from the bottom of 438. It shows towards
neutral position on a daily basis, and overbought on a weekly basis and a neutral on the monthly
basis. On the upward movement, Beyond 535 it may go up to 545 and 570 and further up to 581,
616, and 654. On the download movement, it may get support at 520 and 515.
Indiabulls Real Estate (81 .90) :- It shows an improvement from the bottom of 69. It shows
towards a neutral position on the daily basis, and overbought position on the weekly basis and on
neutral position on the monthly basis. On the upward movement, beyond 546, 560 could be an
important level. On the downward movement, below 527 it may get support at 521 and 517.
IEX (142 .05) :- It shows an upward movement from 121.35. It shows an overbought position on
a daily and weekly basis, while a neutral position on a monthly basis. On the upward movement,
beyond 152 it may go upwards to 165, 177, 190, 201, and 212. On the downward movement,
below 140 it may get support at 137.
Jubilant food (544 .85) :- It shows an improvement from the bottom of 491 .25. It shows an
overbought position on a daily and weekly basis, while towards neutral from an overbought posi-
tion on a monthly basis. On the upward movement, beyond 546, 560 could be an important level.
On the downward movement, below to 527, it may get support at 521 and 517.
Reliance Industries (2393 .90) :- it shows an improvement from the bottom of 2220.30. It shows
an overbought position on a daily and weekly basis and towards an oveRs..old position on a monthly
basis. On the upward movement beyond 2400 it may go up to 2418 2460 and 2500. On the down-
ward movement, below 2388 it may go down to 2372 and 2354.
Disclosure : The Recommendations are based on technical analysis. There is a risk of loss in trading.
: Golden quotes :
Faith is a passionate invition
Financial Weekly TM

RACE ECO CHAIN LTD • BSE: 537785 NSE : RACE • CMP RS. 328.00
REPORTS ROBUST EARNINGS FOR H1FY24, PAT JUMPS 154% YOY
Corporate SCAN
Race Eco ChainLtd.(BSE: 537785, NSE:
RACE), one of the leading companies in
wastelifecycle management, in its board meeting
held on November 06, 2023 has approved the
un-audited Financial Results of the Company for Revenue from Operations reported a tRs.7888.46
the quarterand half year Ended on 30September Lakhs in Q2FY24 and Rs. 18962.86 Lakhs in H1FY24.
2023. EBITDA came in at Rs. 127.27Lakhs in Q2FY24 and Rs.
For the half year ended 30 September 2023, 320.56 Lakhs in H1FY24. PAT stood at Rs.29.77Lakhs
the Revenue from Operations grew 106.22% from in Q2FY24 and Rs. 120.60 Lakhs in H1FY24
Rs.9195.63 Lakhs in H1FY23 toRs.18962.86
Lakhs in H1FY24. EBITDA increased by 394.46%
from Rs. 64.83 Lakhs in H1FY23 to Rs.320.56
Lakhs in H1FY24. EBITDA margins improved
from 0.71% in H1FY23to 1.69% in H1FY24 by 99
Bps. PAT increased by 154.86% from Rs.47.32
Lakhs in H1FY23 to Rs.120.60 Lakhs in H1FY24.
Dedicated to curbing the carbon footprint
caused by plastic waste, RACE (Recycling and
Circular Economy) has emerged as a pioneering force in the environmental sector. Using AI and Blockchain
technologies, it manages the entire lifecycle of waste, enabling traceability from collection to disposal. It
uses blockchain technology for secure transactions, fostering connections between buyers and sellers
through an Artificial Intelligence-powered app. Recycling PET fabric into products that meet GRS (Global
Recycle Standards) standards sets a new standard of accountability and transparency for the industry. As
a proud member of the responsible practices movement, RACE promotes sustainability while providing
end-to-end traceability. In a strategic move towards amplifying traceability within its operations, RACE
recently cemented a pivotal partnership with ZEPTO (Kiranakart Technologies Pvt. Ltd.). Through this
collaboration, ZEPTO's dedicated delivery agents are tasked with directly collecting PET bottles from house-
holds, achieving comprehensive traceability through efficient procurement of post-consumer waste PET
bottles. Central to RACE's ethos is a staunch commitment to advancing its technological prowess. The
company envisions elevating the efficiency of the existing value chain, recognizing technology as the cor-
nerstone solution to realize this vision. Through relentless innovation and strategic partnerships, RACE
remains steadfast in its mission to reshape the landscape of waste management, fostering a sustainable
and transparent future. The securities of the company are listed on both BSE & NSE.
***
Financial Weekly TM

Dilip Davda
e-mail Expert’s Eye
dilip_davda@rediffmail.com
A week of small gains amidst consolidation

The concluded week :- During the week under report benchmarks moved both way to
finally close the week with small gains. While it marked negative trades for the first and the
last two sessions, gains for the remaining sessions helped market to close with a small
weekly gains. FIIs that were the net sellers for the first three sessions turned net buyers for
the last two sessions. This is attributed to their inflow for the record number of mainboard
IPOs during the week.
For the week, while BSE Sensex moved in the range of 66235.24 - 65547.80, NSE Nifty
hovered between 19875.15 - 19670.50.
The week marked Gain of 175.31 points for BSE Sensex and 62.90 points for NSE Nifty.
The weekly movement of benchmarks was as per the table given below:
The ensuing week :- While Brent crude oil prices continued to be soft and closed the
week at 80.60$ per barrel, Rupee remained weak against dollar to end the week at Rs. 83.37
EX-BONUS a dollar. Market awaits five state election outcome that will
Olatech (17 for 20),
have immediate trigger. As usual, global sentiment will con-
Avantel (2 for 1),
BONUS ANNOUNCEMENT tinue to dent the market mood. With the final month of Calen-
Axita Cotton (1 for 3),
dar year 2023 is around, movement of FIIs will be at the cen-
Standard Capital (2 for 1).
ter stage. Other economic data from domestic and global front
EX-SPLIT
Shaily Engg (5 for 1), will be on radar. Russia-Ukraine and Israel- Hamas struggle
Ravalgaon Sugar (5 for 1). will continue to impact the sentiment globally.
BONUS MEET For the ensuing week, we have just four sessions as all
Integra Essentia and
Newgen (27.11.23), markets will be closed on account of Guru Nanak Jayanti on
M K Exim (02.12.23), 27.11.23. We also have derivatives expiry. Thus in a trun-
SBC Exports (05.12.23),
Shreeji Trans (21.12.23)
Cont...
Financial Weekly TM

cated week, we are bound to witness high volatile trades.
Amidst such scenario the BSE Sensex may move in the range of 66750 - 64250 and NSE
Nifty in the range of 20200 - 19000 for the coming week.
DISCLAIMER : No financial information whatsoever published anywhere here should be
construed 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 advisor 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).
Nifty & Sensex Movement during the week

Sensex Open High Low Close Diff
20-11-2023 65,787.51 65,844.01 65,547.80 65,655.15 -139.58
21-11-2023 65,860.46 66,082.36 65,849.17 65,930.77 275.62
22-11-2023 65,839.62 66,063.43 65,664.85 66,023.24 92.47
23-11-2023 66,084.37 66,235.24 65,980.50 66,017.81 -5.43
24-11-2023 66,000.29 66,101.64 65,894.05 65,970.04 -47.77
Net Weekly Gains 175.31
NSE - Nifty Open High Low Close Diff
20-Nov-23 19,731.15 19,756.45 19,670.50 19,694.00 -37.80
21-Nov-23 19,770.90 19,829.10 19,754.05 19,783.40 89.40
22-Nov-23 19,784.00 19,825.55 19,703.85 19,811.85 28.45
23-Nov-23 19,828.45 19,875.15 19,786.75 19,802.00 -9.85
24-Nov-23 19,809.60 19,832.85 19,768.85 19,794.70 -7.30
Net Weekly Gains 62.90

Financial Weekly TM

Dr. A. K. Asnani
(M) 9893512098
Smart Verc (Bhopal)
Author of Book
Way to Billionaire
PEG: A magician's wand!

Have you ever pondered on the common traits shared by wizards who achieved substantial wealth
through long-term stock investments? Almost all of them, including iconic figures like Warren Buffet, Peter
Lynch, and Charlie Munger, relied heavily on fundamental analysis, with a consistent focus on the stock's
intrinsic value.
However, determining a stock's true worth isn't a straightforward endeavor; if it were, the game would be
too easy! The process involves numerous assumptions and subjective evaluations.
Enter the PEG ratio, a concept often referenced by Peter Lynch. Today, let's delve into the captivating
realm of the Price/Earnings to Growth (PEG) ratio and understand why it's considered a magical tool in the
world of investing.
The PEG ratio is a dynamic metric that harmonizes current earnings with future growth potential. It
transcends the present moment, acting as a forward-thinking compass that guides us through the intricate
landscape of stock valuation.
Here's the enchanting revelation: a PEG ratio less than 1 often signifies that a stock may be undervalued
relative to its anticipated earnings growth. It's akin to possessing a crystal ball that allows us to peer into a
stock's potential future performance.
The PEG formula is as follows: PEG = PE ratio (based on trailing twelve months) divided by expected
annual EPS growth for at least two years.
Applying the PEG ratio is an art. A PEG that's too low can be a risky bet, suggesting there might be
information the market is privy to that you're missing. The higher the expected growth rates, the more
lenient one should be with the PEG. In the Indian context, a PEG beyond 2 indicates an overvalued stock.
Imagine this ratio as the magician's wand in our financial toolkit, unveiling insights beyond the surface-
level price-to-earnings (P/E) ratio. It offers a nuanced understanding of a company's valuation, considering
not just its current profitability but also expectations for future growth.
Let's infuse our investment journey with a touch of magic!
Happy investing!
Dr. Anil Kumar Asnani
SEBI Reg. Research Analyst
Whatsapp: 9755920780 : Mobile: 9131361959 : Website: https://www.smartverc.com

Financial Weekly TM

Kishore Purswani
(Email: kishore.purswani@gmail.com)
Interpretation of Financial Statements-XXVII

Balance Sheet- Current Liabilities
Introduction :- Mary Buffett in Chapter 35 and 36 of her book "Warren Buffett and
Interpretation of Financial Statements" has delved into the importance of Current Liabilities.The
amountof short-term and long-term debt that a company carries can tell a great deal about the long-
term economics of a business and whether or not it has a durable competitive advantage.
Currrent Liabilities :- Current liabilities are obligations or debts that a com-
pany needs to settle within a year. They represent short-term financial obligations that need to be
repaid or fulfilled within a relatively short timeframe, usually within 12 months. These liabilities are
listed on a company's balance sheet and can include:
Accounts Payable : Money owed to suppliers or vendors for goods or services purchased on
credit.
Short-Term Loans : Borrowings due within a year, such as lines of credit or short-term bank
loans.
Accrued Expenses : Costs incurred but not yet paid, like wages, utilities, or taxes.
Unearned Revenue : Payments/advances received for goods or services not yet delivered or
performed.
Current Portion of Long-Term Debt : The part of long-term debt that's due within the next year.
Dividends Payable : Dividends that have been declared but not yet paid.
Understanding current liabilities is crucial for assessing a company's short-term financial health
and its ability to meet its short-term obligations. The current liabilities can provide insight into a
company's liquidity and how effectively it manages its short-term financial commitments.High cur-
Cont...
Financial Weekly TM

rent liabilities relative to current assets may suggest liquidity issues. Lenders and creditors use
current liabilities to assess a company's ability to repay short-term debts. A high ratio of current
liabilities to assets might indicate a riskier financial position.
Monitoring these liabilities helps in understanding how efficiently a company manages its work-
ing capital and pays off short-term obligations without interrupting operations. They are crucial in
financial forecasting and planning, as they provide insights into short-term cash flow needs and
help in setting budgets and projections. Investors analyze current liabilities to gauge the risk asso-
ciated with investing in a company. High current liabilities might signal financial stress, affecting
investor confidence. Comparing current liabilities across different periods or with industry bench-
marks can reveal trends and performance indicators.
Overall, understanding and managing current liabilities are essential for maintaining a healthy
financial position and ensuring the smooth operation of a business.
Conclusion
Current liabilities play a pivotal role in understanding a company's short-term financial health,
its ability to manage short-term debts, and its overall liquidity position. These insights are crucial
for stakeholders when evaluating the stability and performance of a business.
Happy investing!
Kishore Purswani
M No 9425604104,
Mail id: kishore.purswani@gmail.com

Financial Weekly TM

Scrip Watch - Siddharth Shah
Escorts (Rs. 3232.00) (Code : 500495) : Farm and construction equipment manufac-
turer Escorts Kubota on Friday said its consolidated net profit rose over two-fold to Rs 223 crore for
the second quarter ended September, driven by brisk sales in the construction and railway equip-
ment segments. The company had reported a net profit of Rs 99 crore in the July-September period
of the last fiscal. The total income increased to Rs 2,154 crore in the second quarter of the current
fiscal from Rs 1,969 crore in the year-ago period. The company said tractor sales declined to 22,024
units in the second quarter as against 23,703 units in the corresponding period last year. The total
income increased to Rs 2,154 crore in the second quarter of the current fiscal from Rs 1,969 crore
in the year-ago period. The company said tractor sales declined to 22,024 units in the second
quarter as against 23,703 units in the corresponding period last year. Buy.
Deepak Nitrite (Rs. 2194.00) (Code : 506401) : For the reporting quarter, Deepak
Nitrite's consolidated net profit increased 17.54 per cent on-year to Rs 205.08 crore against Rs
174.47 crore logged in the same period last year. For the quarter ended June of the current fiscal
year, the company's net profit stood at Rs 149.9 crore. The increased net profit during the quarter is
largely due to the softness in input costs. Revenue from operations stood at Rs 1,778.05 crore in
Q2 FY24, down 9.3 per cent in comparison to Rs 1961.65 crore realised in the same quarter last
year. On the segmental front, the revenue from advanced intermediates stood at Rs 670.2 crore,
while that from phenolics was Rs 1,120.13 crore in the reporting quarter. The company's various
segments include bulk chemicals and commodities (BCC), fine and specialty chemicals (FSC),
and fluorescent whitening agents (FWA). Accumulate.
CE Info Systems (Rs. 2194.00) (Code : 506401) : CE Info Systems, operator of

MapmyIndia, jumped 6.5 percent on November 23 morning after the company said its board will
meet on November 27 to consider fund-raising plans. The location-based Internet of Things (IoT)
technologies provider said the board will “discuss, consider and approve the proposal of raising
the funds by way of issuance of equity shares”. This could be via a private placement, a qualified
institutions placement, preferential issue or any other method or combination. In the September
quarter, CE Info Systems posted a 30.3 percent year-on-year increase in consolidated profit after
tax at Rs 33.1 crore. Mark Mobius is among the investors enthused by MapmyIndia, which pro-
vides mapping and utility services. "Seeing MapmyIndia soar confirms our belief in their vision.
The company is doing a terrific job in mapping and location technology," he wrote on Linkedin on
October 18. MapmyIndia's management recently gave a revenue guidance plan of Rs 1,000 crore
by fiscal 2027 or 2028. For the current fiscal, it has already guided 40% revenue growth, with at
least a 40% Ebitda margin. Buy.
Disclosures : At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm,
his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested
interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based
on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible
for any legal or financial losses made by anybody.
Financial Weekly TM

Market Tips - Het Zaveri
Radico Khaitan (Rs. 1425.00) (Code : 532497) : Radico Khaitan has launched Magic
Moments Remix Pink Vodka to meet the rising demand for coloured and flavoured alcoholic beverages. It is
positioned in the premium segment and will be launched in UP, Rajasthan, and Assam before expanding
nationwide. Magic Moments Vodka achieved a sales milestone of five million cases in FY2023, holding a 60
per cent market share in the vodka category. The new Pink Vodka variant, enriched with natural flavours of
black mulberry, elderflower, and raspberry, aligns with the growing trend of coloured vodka. The share of
prestige and above brands in total volumes rose to 41.6 percent in H1 FY24. The company plans to raise
the share of premium products in total volumes to 55-60 percent. While growing share of premium products
will aid profit margins, the stock is trading at lofty valuations Alcoholic drinks company Radico Khaitan is on
a mission to improve its revenue mix. Buy.
Ajanta Pharma (Rs. 1957.00) (Code : 532331) :- Ajanta Pharma is a specialty

pharmaceuticals formulation company with a well-diversified Branded Generics business spread across
India, the rest of Asia, and Africa. Ajanta's business also consists of two more verticals: US Generics and
Institutional business in Africa. These two verticals are facing headwinds and the company said it remains
cautiously opportunistic for them. The management is confident to scale up margins again in the coming
years on the back of the enhanced contribution of Branded Generics business, and normalisation of freight
costs. This will also add surety, scalability, and sustainability to the business. Ajanta Pharma Ltd reported
a 24.71 per cent rise in consolidated net profit at Rs 195.3 crore for the second quarter ended September
30, 2023. The company had posted a consolidated net profit of Rs 156.6 crore in the same quarter last
fiscal. Invest.
Maruti Suzuki (Rs. 10518.00) (Code : 532500) :- Brokerages remain upbeat on the
robust figures posted by Maruti, the country's leading automobile company for the September quarter.
Domestic brokerage house Motilal Oswal said raw material cost savings, favourable foreign exchange, a
healthy product mix, and operating leverage drove Q2 gains. The firm has a “buy” rating on the stock with a
target price of Rs 12,300, an upside of about 17 percent. Stable growth in domestic PVs and a favourable
product lifecycle augur well for the company. It expects market share gains and margin recovery in FY24.
The margin improved by 380 basis points quarter-on-quarter. During the course of the quarter, Maruti's
utility vehicle mix improved to 33 percent from 28 percent in the previous quarter. Analysts at HDFC Secu-
rities said Maruti's aggressive launching spree in the last few quarters helped the company garner 26
percent market share in UVs in the first half and consolidated its position as the leader player in the seg-
ment. Buy.
Disclosures : At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above.
The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author
may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also
is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions
undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.
Financial Weekly TM

SMART TIPS Smita N. Zaveri
IOC (Rs. 103.00) (Code: 530965) :- The shares of this oil refiner are listed in the A group. The
shares touched a 52-week high of Rs. 106 and low of Rs. 69. The country’s largest oil marketing company
reported an EBITDA of Rs. 2130 crore in the September quarter. Its GRM was $17.9 per barrel, higher than
the projected $14.9 per barrel. The marketing margin was also higher at Rs. 5.80 per litre as against the
projected Rs. 5 per litre. The refining throughput grew 10% on an annual basis to 1.78 crore tonnes. Domestic
sales volume was 2.19 crore tonnes. Promoter holding is 51.50%. Its equity is Rs 13,771 crore and reserves
are Rs. 1,25,948 crore. It reported income of Rs. 1,79,752 crore and profit of Rs. 13,390 crore in the Septem-
ber quarter. The share is trading at a forward P/E ratio of 7 and a price-to-book ratio of 0.7.
Engineers India (Rs. 145.00) (Code: 532178) :- Shares of this engineering design
and construction sector company are listed in the A group and have a face value of Rs. 5. The shares
touched a high of Rs. 165 and low of Rs. 70 in the last 52 weeks. The Central PSU has reported average
performance in both consultancy and EPS segments in the last quarter. As per its new vision statement, the
company aims to emerge as a total energy consultancy organisation. It will also focus on green energy.
Promoter holding in the company is 51.32%. The company’s equity is Rs. 281 crore and reserves are Rs.
1,680 crore. Its order book has grown by 7.5%. Overseas orders account for 11% of the overall order book.
The hydrocarbon segment accounts for 64% of the orders and chemicals 29%. Its market cap is Rs. 8180
crore. In the September quarter, revenue was Rs. 789.81 crore, while profit jumped nearly 70% to Rs.
127.46 crore. The stock can be seen near its 52-week high in 2-3 quarters.
Jamna Auto (Rs. 114.00) (Code: 520051) :- The company is a leader in making para-
bolic springs and taper-leaft springs for auto and commercial vehicles. It has a rich legacy of more than 50
years. The A group listed shares have a face value of Re. 1. The shares touched a 52-week high of Rs. 127
and low of Rs. 94. Its market cap is Rs. 4590 crore. Promoter holding is 49.95%. Its equity is Rs. 39.83
crore and reserves are Rs. 744 crore. The company is known for paying attractive dividends. It is benefiting
from the sound performance of the commercial vehicles segment. Money can be put in the stock in tranches.
In the September quarter, income grew 10% to Rs. 607.36 crore while profit rose by 34% to Rs. 50.11 crore.
GSPL (Rs. 277.00) (Code: 532702) :- The shares of this A group listed company touched
a 52-week high of Rs. 310 and a low of Rs. 236. Gujarat State Petronet Limited has a presence in the entire
energy value chain and is engaged in gas transmission, CGD, and power generation. 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 3,000 km. It is executing projects in
partnership with IOCL, BPCL, and HPCL. Its clients include refineries, steel plants, fertiliser units, power
plants, textiles and chemical units. It has a market cap of Rs. 15,575 crore. GSPL’s income in the Septem-
ber quarter increased from Rs. 4336 crore to Rs. 4455 crore, whereas profit fell from Rs. 621 crore to Rs.
580 crore. The stock can be seen at new highs in the short to medium term.
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 24th November, 2023
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

Smart super duper - Het Zaveri
Suntech Realty (Rs. 490 .00) (Code: 512179) :- Real estate sector is witnessing a
bullish wave. The company's market cap is Rs.. 776 crore. The promoteRs.. hold 67.22 and public
hold 32.78 percent stake in the company. The company has developed 5 2.5 million sqft area in 32
projects till now. The company's equity is Rs. 14.03 crore, while the reserves stand at 2736 crore.
For the September quarter of financial year 2024, The company's income decreased from Rs. 81
crore to Rs. 25 crore, While it registered losses of Rs. 14 Crore, as against profit of Rs. 2 crore. The
company's ballot sheet is very strong and it doesn't reflect much debt. The bullish wave in the real
acid chapter of Mumbai May help the real estate companies with a strong balance sheet. The
company can perform better in the future, so the stock can be considered for investment at any
downward movement. It paid 150% dividend for financial year 2023.
Welspun Corp. (516 .00) (Code: 532144) :- This company and other companies of
this sector have given a multifold return because it's a golden time for the sector. All the companies
have a record order book and all the companies are expecting a robust growth in the future. Welspun
Corp is a giant company in this sector and this company is getting ordeRs.. from the domestic and
foreign markets. The company's market cap is Rs. 13541 crore. As against equity of Rs. 131 crore,
the company has reserves of Rs.. 4919 crore. For the September quarter, the company's income
increased from Rs. 1964 crore ? 4059 crore, While operating profit was Rs. 400 crore, as against
losses of Rs. 131 crore. The company witnessed profit of Rs. 387 crore as against losses of Rs. 63
Crore. The stock is witnessing one sided bullish wave, Still it can be considered for a new invest-
ment at any downward movement in the prices.
PCBL (261.00) (code: 506590) :- The company was earlier known as Philips Carbon
Black. It is a flagship company of RP Sanjeev Goenka's 2500 million dollar group. It has plants at
Durgapur, Palej, Cochin and Mundra. It is the biggest and no 7 company in the world in terms of
carbon black production. As against equity of Rs. 38 crore, the company has reserves of rupee
3078 crore. For the September quarter of financial year 2024, the company's income decreased
from Rs. 1628 crore to Rs.. 1487, while profit Increased from Rs.. 116 crore to Rs. 123 crore. At the
current market price the stock is being quoted at PE of just 23. The stock can be a good investment
in the next 6 to 12 months. The company pays a handsome dividend to the shareholdeRs. It paid
dividend of Rs. 10 a share. For the financial year 2022. It paid dividend of Rs. 5.5, after split of the
share from Rs. to 2 Rs. 1.
UNO Minda (Rs. 678 .00) (Code: 532539) :- The company was earlier known as
Minda Industries But now it is known as Uno Minda Industries. The company's market cap is Rs.
38893 crore. As against equity of Rs. 115 crore, the company has reserves of Rs. 4041 crore. For
the September quarter of financial year 2024, the company's income increased from Rs. 2877
crore to Rs. 3621 crore, While profit increased from Rs. 182 crore to Rs. 238 crore. The company is
active in the auto ancillary segment. It has recently completed expansion of its facility which may
benefit the company in the future. The auto sector is in revival mode and it has been witnessing a
good growth for quite some time. As a result, the auto companies are witnessing a bullish wave,
which has led to good movement in the auto ancillary market. The company paid interim dividend
of 25% for the financial year 2023. The company's book value is Rs. 72.5.
Disclosures : At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of
his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up
or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived
from charts. 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

Prime Fresh Ltd ; BSE: 540404 ; CMP Rs. 312
Reports Robust Earnings for H1FY24, Revenue Grows 44% YoY
Corporate SCAN
Ahmedabad, 21 November 2023: Prime Fresh Limited,
aleading player in the national fruits and vegetables supply
chain management landscape, in its board meeting held
on November09, 2023, has approved the unaudited Finan-
cial Results of the Company for the half year ended on
30September 2023.
Commenting on the H1FY24 Performance, Management
added,"The first half of FY24 has been marked by signifi-
cant milestones and promising financial performance for
our company. We are proud to report substantial growth
across key financial indicators, reflecting our commitment
to innovation, sustainability, and delivering value across
the agricultural value chain.
In H1FY24, our Standalone Revenue from Operations
surged by an impressive 44.81%, reaching Rs. 6284.031
Lakhs compared to Rs. 4339.60 Lakhs in H1FY23. This
robust growth is a testament to our relentless pursuit of
excellence and our ability to capture opportunities within
the Fruits and Vegetable(F&V) sector.Our EBITDA for
H1FY24 experienced a commendable increase of 21.69%,
rising to Rs. 416.93 Lakhs from Rs. 342.63 Lakhs in H1FY23.
This upward trajectory underscores our focus on opera-
tional efficiency and effective cost management strategies,
contributing to our overall financial health.
Furthermore, our Profit After Tax (PAT) for H1FY24 grew
by 19%, reaching Rs. 284.88 Lakhs compared to Rs. 239.40
Lakhs in H1FY23. This steady increase in profitability signifies the success of our strategic initiatives and highlights our ability to
navigate ever evolving market dynamics effectively.
Our growth story is deeply rooted in our strategic pillars driving our success. Our commitment to delivering high-quality F&V
has enhanced productivity and added significant value across the agricultural value chain. Moreover, our focus on post-harvest
management and market linkages has resulted in improved storage, reduced wastages, and more efficient distribution through
smart logistics planning and technology-driven market intelligence models. Looking ahead, our focus and emphasis on value
addition through frozen products, food processing, exports, and enhanced storage capabilities aligns with our vision for unstop-
pable growth in the Farm to Market Businesses. We are poised for continued success and are dedicated to pioneering advance-
ments in agriculture while delivering sustainable value to all stakeholders.
We express our gratitude to our stakeholders, customers, and dedicated team members whose unwavering support and
commitment have been instrumental in our achievements. As we move forward, we remain steadfast in our pursuit of excellence,
innovation, and sustainable growth."
AboutPrime FreshLtd.
With a robust ecosystem spanning multiple state and district boundaries across India, Prime Fresh Limited is a leading
player in the national fruits and vegetables supply chain management landscape. As a pioneer in its domain with a 16-year
heritage, Prime Fresh demonstrates a singular business model, refined processes, and a distinctive market positioning that
sets it apart from its competitors. In the realm of fruits and vegetables supply chain, Prime Fresh has cemented its position
as a leader, demonstrating consistent sales, profitability, and a growth trajectory, establishing a reputation built on enduring
performance across an extended timeline.
The strength of Prime Fresh Limited's business model lies in its exceptional reach, a substantial base of farmers, a well-
entrenched supply chain ecosystem, and robust partnerships with major entities like MT E-COMMERCE, Food Processors, and
APMCs. These segments collectively pave the way for sustainable sales and profitability growth. Amidst an evolving fruits and
vegetables sector in India, characterized by transformative opportunities in branding, distribution, exports, HORECA,
premiumization, and packaging innovation-focused on hygiene and nutrition - the company is aiming for expansive growth. As
part of its strategy to strengthen its market position and capitalize on emerging opportunities, Prime Fresh intends to invest in new
locations, distribution centers, cold chains, packhouses, and innovative distribution models for fruits and vegetables. The com-
pany envisions amplifying its focus on marketing, augmenting senior management capabilities, and embarking on forward and
backward integration within the value chain. The securities of the company are listed on BSE (BSE: 540404).
***
Financial Weekly TM

A.J. Diwan (Mumbai)
Diwan-E-Khas E-mail : divanconsultancy@rediffmail.com
ELECTION FEVER APPEARS

The Indian stock market showed a good rally at the beginning of Vikram Samvat 2080 after
falling on the first day. It went up to 19800 without touching the 19680 support. Keeping in mind the
19800 resistance surface, above it 19850 is necessary to cross 19850. New milestones can be
seen in the Indian stock market as the market breath is strong. Counting down to 19700 can be
done up to 19620.
Traders should take stock till the five state election results are due on 3-12. If BJP wins even
three of these, the market may fluctuate and cross 20,000. If the index stays above 65700, it can
show 68000. The government can spoil the market tone by making any announcement at any time
like the current increase in interest rate on personal loans by 0.25 basis points. This may increase
the NPA of banks. A common man's budget can be ruined. It is a wrong move that the government
has kept the prices of petrol-diesel unchanged
State Bank closed at 560 on Thursday, closing below 550 is likely to get worse. Auto stocks:-
Can be found in bullish streak. Especially Tata Motors can increase the price of 700. Ashok Leyland
Rs. 175 with a stoploss, Can be bought for a target of 185.
Renuka Sugar: Recommended earlier this stock can be considered good for long term invest-
ment around 50. Zee Limited and Mahanagar Gas are starting to cut sales. Delta Corp:- This GST-
washed share can be bought at a stoploss of 130. Reliance :- Due to high date the move will be
slow but under no circumstances it seems that 2250 will come. Bharti Airtel, Indian Oil, Zomato can
be sold on any surge. Crude fluctuations can have an impact on ONGC. HPCL and BPCL may
remain positive. Bank stocks should be avoided for the short term, further declines are possible.
Financial Weekly TM

Graphisads Ltd IPO to Open on 30th November,
Company To Raise Rs. 53.41 Crore
Corporate SCAN
Graphisads Limited, a stalwart in the realm of inte-
grated marketing, advertising, and communications, is
set to embark on a new chapter with its Initial Public
Offering (IPO). With a legacy dating back to its incep-
tion in 1987, Graphisads has emerged as a powerhouse in crafting compelling brand narratives. This
IPO marks a strategic move for the company to unlock new avenues of growth, offering investors a
unique opportunity to participate in the journey of a seasoned player in the advertising industry.
The Graphisads Limited IPO is a fixed price issue of Rs. 53.41 crores which comprises an en-
tirely fresh issue of 48.12 lakh shares priced at Rs 111 per equity share. The IPO will open on 30th
November and close on 5th December, the listing of the company is on 13th December on the Na-
tional Stock Exchange (NSE SME) platform.
As Graphisads Limited prepares for its Initial Public Offering (IPO), a glance at its financial jour-
ney reveals not only creative prowess but also robust fiscal resilience. The company's standalone
reports showcase a consistent performance. In FY2023, Revenue from Operations soared to Rs.
9843.4 Lacs, a notable increase from Rs. 8917.07 Lacs and Rs. 4567.59 Lacs in FY2022 and FY2021,
respectively. Looking forward, a positive outlook for FY2024 anticipates a 27% surge in revenue, a
testament to strategic initiatives and adaptability.
The Price-to-Earnings (P/E) ratio is at 26.88. The Earnings Per Share (EPS) was reported at Rs
4.13, and the Return on Net Worth (RoNW) was reported 12.99%.
Graphisads has cultivated a diverse and prestigious clientele that spans across government bod-
ies, private corporations, and public sector enterprises. This broad spectrum of clients underscores
the company's versatility and ability to cater to varied industry needs. Notable names in Graphisads'
clientele include prominent entities such as LIC, NTPC, Air India, NSDC, NHPC, DLF, Adani Group,
India Today, Vivo, Schneider Electric, and more.
In the public sector, the company has collaborated with government entities at both central and
state levels in almost all the states of the country, showcasing its capability to meet the communica-
tion and advertising requirements of governmental organizations. This diversified clientele not only
highlights Graphisads' wide-ranging expertise but also speaks to its trustworthiness and effective-
ness in delivering impactful advertising and communication solutions across different sectors and
industries.
The diverse and prestigious clientele that Graphisads has cultivated, including collaborations with
industry stalwarts such as LIC and NTPC and other reputed firms, is indicative of its adaptability and
reliability. This extensive clientele not only underscores Graphisads' resilience but also potential for
growth across various sectors.
***
Order book of Rs.55 crore

A pivotal aspect is the estimated order book of Rs. 55+ Crores, affirming the company's confi-
dence in securing future contracts and signalling a robust business pipeline. As Graphisads allo-
cates IPO proceeds, the focus on debt repayment, working capital, and strategic expenses en-
hances investor confidence. This financial strategy aligns with the company's commitment to main-
taining a streamlined and resilient financial structure.
Financial Weekly TM

Primary Market - Dilip K. Shah
In the CY 2023 out of total 46 IPOs 34 IPOs have given positive return
Vikram Samvat 2080 may turnout to be the best year for the investors in Primary Market
IPO market witnesses bullish wave in the New Gujarati Year: IPOs worth Rs. 11500 crore will rattle the market in one and a half month
Last week total Seven IPOs including five mainboard IPOs and two SME IPOs sailed through
IPO subscription: Tata Techno IPO 69x, Flair 49.28x, Gandhar 65.63x, FedBank 2.24x, IREDA 38.80x
This week three BSE SME IPOs SwasthikPlascon, Deepak Chemtex, AMIC Forging are in the market
Next week two NSE SME IPOs - Net Avenue, Graphisads will enter the market on November 30
Tata's Mainboard IPO of Rs. 7300 crore fetches applications worth Rs. 2,00,000 crore
Majority of the recent mainboard IPOs will get listed as per T+3 system
How and when will be listing/ refund and allotment in the five Mainboard IPO
SME IPO listing - Kalyani Cast at 90% and Rox Hi-Tech at 63%
Mainboard IPO Protean eGov, NSE SME IPO of Baba Food and Sunrest Life got listed at-par
SME IPO subscription: Arrowhead 95x, Rocking 214x
BSE SME IPO of SwashtikPlascon got 0.47x subscription on the first day: Issue will close on November 29
Vikram Samvat 2080 may turnout to be the best year for the investors in Primary Market :-
Vikram Samvat 2080 may turnout to be the best year for the investors in Primary Market as IPOs
worth more than Rs. 11500 crore will enter the market in one and a half month.
In the last two weeks of November, big-bang IPOs rattled the primary market. In 2023, total 46
IPOs entered the market, of which 34 IPOs have given positive return.
Tata Group entered the market with an IPO after two decades. It got record-break response from
the investors.
* Current Situation:-
Last week turned out to be the busiest week for the primary market in CY2023. Tata Technolo-
gies' IPO got oversubscribed within a few minutes of launching. On the other hand,
Gandhar Oil Refinery oversubscribed within an hour of opening.
Flair Writing's issue also got fully subscribed on the first day of launching. Five IPOs planned to
raise Rs. 7377 crore but received subscription worth Rs. 25000 crore on the first day.
Tata Technologies' IPO received bids worth Rs. 1.5 lakh crore.
Last week five mainboard IPOs - IREDA, Tata Technologies, GandharOil Refinery, FedBank
Financial, Flair Writing and two SME Issues ArroweheadSeperation, and Rockingdeals were in
the market and all have sailed through.
As per the market report, majority of the mainboard IPOs will get listed using T+3 listing system.
Therefore, the allotment and listing dates are subjected to change.
* Indian Renewable Energy (Mainline) :- MiniRathna PSU IREDA's combo issue of Rs. 2150
with an offer price of Rs. 30-32 closed on November 23.
Subscription :- It received total 38.80x subscription including QIB 104.57x, HNI 24.16x,Big HNI
26.99x, Small HNI 18.50x, Retail 7.73, Employee 9.80x. In retail category, out of every 11 appli-
cants two may get 460 shares.
Allotment :- Allotment may be on November 29, refund on November 30 and share credit on
December 1.
Cont...
Financial Weekly TM

Grey Market Premium / Kostak / Subject to Prices
IPOs Name Lot Size Offer Price Premium Kostak Price Subject to
(Shares) (Rs.) (Rs.) *Min. Appl. Sauda
MAIN LINE IPOS

IREDA Main Line 460 30 to 32 9.50 800 4,000
Small HNI (Rs. 2 Lakh+) 3,000 55,000
Big HIN (Rs. 10 Lakh+) 12,200 55,000
Tata Technologies Main Line 30 475 to 500 410 to 412 1100 10,250
Small HNI (Rs. 2 Lakh+) -- - 2,100 1,35,000
Big HNI (Rs. 10 Lakh+) 13,000 1,35,000
Share holder (Below 2 Lakh) 5,000 --
Gandhar Oil Refinery Main Line 88 160 to 169 76 to 78 400 3,400
Small HNI (Rs. 2 Lakh+) 2,500 45,000
BIg HNI (Rs. 10 Lakh+) 8,000 45,000
Fedbank Financial Main Line 107 133 to 140 1.50 to 2 200 2,500
HNI 6,000
Flair Writing Main Line 49 288 to 304 75 to 77 350 1,400
Small HNI (Rs. 2 Lakh+) 2,000 40,000
Big HNI (Rs. 10 Lakh+) 8,000 40,000
TCS (Rs. 2 Lakh) Buy Back
(After 35 Day 1% Interest) 7,400
SME IPOs
Arrowhead Seperation BSE SME 600 233 24 to 25 11,500
Rocking Deals Circular NSE SME 1000 136 to 140 53 to 55 40,000
Swashthik Plascon BSE SME 1600 80 to 86 5 to 6 8,000
Deepak Chemtex BSE SME 1600 76 to 80 10 to 11 12,000
AMIC Forging BSE SME 1000 121 to 126 8 to 10 6,000
Net Avenue Techno NSE SME 8000 16 to 18 0.00
Graphisads NSE SME 1200 111 0.00
Don't subscribe IPO only on the basis of Grey premium. Before Investing check the fundamentals of IPO
Listing :- Listing on December 4 may be around Rs. 42-45 and may cross Rs. 50 level in a good
market.
* Tata Technologies (Main Line) :- It is a leading engineering company of Tata Group, estab-
lished in 1994. The issue of Rs. 3042.51 crore with a price band of Rs.475-500 opened on Novem-
ber 22 and closed on November 24.
Subscription :- It got total 69.43x subscription including QIB 203.41x, HNI62.11x, Big HNI 62.11,
Small HNI 44.98x, Retail 16.50, Employee 3.70, Others(SH) 29.19x.
Allotment :- Allotment may be on November 30, refund on December 1 and share credit on
December 4. In the retail segment, out of every 17 applicant two may get allotted 30 shares.
Listing :- Listing on December 5 may be around Rs. 900-915 and may cross Rs. 950 to Rs.
1000 level.
Cont...
Financial Weekly TM

BSE 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. Swashthik 24-11-23 47,40,000 Shares 80 to 86 1600 Shares Shreni Shares 31% ; Apply for
Plascon 29-11-23 Rs. 40.76 Cr. (FV Rs. 10) Rs. 1,37,600 Long Term
2. Deepak 29-11-23 28,80,000 Shares 76 to 80 1600 Shares Hem Securities 34% ; Apply for
Chemtex 1-12-23 Rs. 23.04 Cr. (FV Rs. 10) Rs. 1,28,000 Mid Term
3. AMIC 29-11-23 27,62,000 Shares 121 to 126 1000 Shares Gretex Corporate 32% ; Apply for
Forging 1-12-23 Rs. 34.80 Cr. (FV Rs. 10) Rs. 1,26,000 Long Term
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. Net Avenue 30-11-23 57,00,000 Shares 16 to 18 8000 Shares Shreni Shares 33% ; Apply for
Technologies 4-12-23 Rs. 10.26 Cr. (FV Rs. 1) Rs. 1,44,000 Mid Term
2. Graphisads 30-11-23 48,12,000 Shares 111 1200 Shares First Overseas 28% ; May Apply
5-12-23 Rs. 53.41 Cr. (FV Rs. 10) Rs. 1,33,200 (Risky Bet)
* Gandhar Oil Refinery (Mainline) :- A leading white oil producer came up with Rs. 500.96
crore combo issue with a price band of Rs. 160-169, which opened on November 22 and close on
November 24.
Subscription :- It got total 65.62x subscription including QIB 129.06x, HNI64.34x, Big HNI 61.93x,
Small HNI 69.17x, Retail 29.93x.
December 4. Out of every 20/23 applicants, one retail applicant may be allotted 88 shares.
Listing :- It may list on December 5 around Rs. 230-250 and may cross Rs. 275 level.
* FedBank (Main Line) :- Rs. 1092.26 crore issue with a price band of Rs. 133-140 opened on
November 22 and close on November 24.
Subscription :- Issue got total 2.24x subscription including QIB 2.24x, HNI1.49x, BHNI 1.27x,
SHNI 1.92, Retail 1.88x, Employee 1.34x.
December 4. In the retail category, out of every 3 applicants two may be allotted 107 shares.
Listing :- Listing on December 5 may be around Rs. 140-145 and may cross Rs. 160 level in a
good market.
* Flair Writing (Main Line) :- The issue with a total size of Rs. 593 crore and a price band of Rs.
288-304 opened on November 22 and closed on November 24.
Subscription :- it got total 49.28x subscription including QIB 122.02x,HNI 35.23x, Big HNI 36.53x
Small HNI 32.61x, Retail 13.73x.
Allotment :- Issue allotment may be on November 30, refund on December 1 and share credit
on December 4. In the retail category, out of every 11 applicants one may be allotted 49 shares.
Listing :- Listing on December 5 may be around Rs. 370-380 and may cross Rs. 400 level.
* SME IPOs :-
• Arrowhead SeperationEngineering :- Rs. 13 crore issue with a fixed price of Rs. 233 opened
on November 16 and closed on November 20 with total 94.79x subscription including 142.30x in
Cont...
Financial Weekly TM

Listing Information of SME IPO
Co. Name Listing Code Offer Listing Listing Listing Listing CMP
Date Price Price Day Day Day 24th
(Rs.) (Rs.) High Low Close Nov.
Protean eGov (Main Line) 13-11-2023 544021 792.00 792.00 890.90 775.00 883.00 1109.00
Baba Food (NSE SME) 15-11-2023 BABAFP 76.00 76.00 76.00 72.20 72.20 76.90
ASK Auto (Main line) 15-11-2023 544022 282.00 304.90 317.00 304.15 310.20 294.40
ROX Hi-Tech (NSE SME) 16-11-2023 ROXHITECH 83.00 135.00 141.75 135.00 141.75 171.80x
Kalyani Cast (BSE SME) 17-11-2023 544023 139.00 264.10 277.30 264.10 277.30 353.75
Sunrest Life (NSE SME) 20-11-2023 SUNREST 84.00 84.00 84.00 79.80 79.80 73.05
retail. Listing may be on November 29 Subscription Figures of SME IPO (Dt. 24-11-23)
around Rs. 250-260. IPO Listing Day Subscribed
Arrowhead Seperation BSE SME Issue Closed on 20-11-2023 94.79x
• RockingdealsCirculars :- Rs. 21 crore RockingDeals Circular NSE SME Issue Closed on 24-11-2023 213.64x
Swasththik Plascon BSE SME 1st Day Subscribed 0.47x
issue closed on November 24 with total
Deepak Chemtex BSE SME Issue Opens on 29-11-2023 --
213.64x subscription including 201.42x in AMIC Forging BSE SME Issue Opens on 29-11-2023 --
Net Avenue Techno NSE SME Issue Opens on 30-11-2023 --
retail. It may list around Rs. 190-195 and Graphisads NSE SME Issue Opens on 30-11-2023 --
prices may cross Rs. 250 level.
* Last week's listing :- Last week total 6
Tentative Timetable for SME & Main Line IPOs
IPOs Name Issue Basis Refund/ Credit of Listing
IPOs got listed including 2 Mainboard,3 Closes of Unblock Shares Date
Date Allotment Amount to Demat
NSE SME, and 1 BSE SME. IREDA Main Line IPO 23-11-23 29-11-23 30-11-23 1-12-23 4-12-23
Tata Technology Main Line IPO 24-11-23 30-11-23 1-12-23 4-12-23 5-12-23
• Protean eGov (Mainbaord) (544021) Gandhar Oil Main Line IPO 24-11-23 30-11-23 1-12-23 4-12-23 5-12-23
Fedbank Fin. Main Line IPO 24-11-23 30-11-23 1-12-23 4-12-23 5-12-23
:- Issue with an offer price of Rs. 792 listed Flair Writing Main Line IPO 24-11-23 30-11-213 1-12-23 4-12-23 5-12-23
Arrowhead Seperation BSE SME 20-11-23 23-11-23 24-11-23 28-11-23 29-11-23
on November 13 at Rs. 792, i.e. at-par. Rocking Deals Circular NSE SME 24-11-23 28-11-23 29-11-23 29-11-23 30-11-23
Swashthik Plascon BSE SME 29-11-23 4-12-23 5-12-23 6-12-23 7-12-23
• ASK Automotive (Mainboard)
Deepak Chemtex BSE SME 1-12-23 6-12-23 7-12-23 8-12-23 11-12-23
(544022) :- Issue with an offer price of Rs. AMIC Forging BSE SME 1-12-23 6-12-23 7-12-23 8-12-23 11-12-23
Net Avenue Techno NSE SME 4-12-23 7-12-23 8-12-23 11-12-23 12-12-23
282 listed on November 15 at Rs. 304.90, Graphisads NSE SME 5-12-23 8-12-23 11-12-23 12-12-23 13-12-23
i.e. 8.12 % premium.

• BABA Food (NSE SME) :- Issue with an offer price of Rs. 76 listed on November 15 at Rs. 76.
i.e. at-par.
• Rox Hi-Tech (NSE SME) :- issue with an offer price of Rs. 83 got listed on November 16 at Rs.
135, i.e. 62.65% premium.
• Sunrest Lifesciences (NSE SME) :- Issue with an offer price of Rs. 84 listing on November 20
at Rs. 84, i.e. at-par.
After 11 years, Airtel company is coming with IPO

Bharti Hexacom which is a subsidiary of telecom sector giant Bharti Airtel has started the
process of bringing Bharti Hexacom IPO. The listing of this company is likely to happen in a
short time. After 11 years Airtel company is bringing IPO. Airtel owns 70 percent of the company
while the Government of India owns 30 percent equity through Telecom Consultants of India.
The valuation of this company is Rs. 20,000 crores.
Cont...
Financial Weekly TM

Subscription Figure of Tata Techno Create record with 73.58 Lakh Applications
IREDA Main Line IPO More than 30 Lakh Applications
Co. Name Appl. Co. Name Appl. Co. Name Appl.
No. Shares Issue Subscribed (Lakh) (Lakh) Tega Ind. 34.84
Offered/ 21-11 22-11 23-11 Tata Techno 73.58 Devyani Intl. 38.4 Tatva Chintan 32.44
Reserved 2023 2023 2023 LIC 73.38 Latetn View 37.61 Zomato 32.3
QIB 13,40,13,152 1.34x 2.69x 104.57x R. Power 48.00 Paras Defence 36.16 CE Info 31.54
Glenmark Life 39.5 Nykaa 35.7 IREDA 30.93
N II 10,05,09,864 2.74x 7.76x 24.16x
R eta il 23,45,23,015 2.02x 4.32x 7.73x
Emp. 18,75,420 2.13x 5.01x 9.80x Allotment Break-up
Total 47,09,21,451 1.98x 4.59x 38.80x HNI HNI Retail Empl. Other
Above 10L 2-10 L SH
IREDA LTD 45,527 89,372 29,58,001 - -
Subscription Figure of Allotment Ratio
Tata Techno
4.38x 17.18x
1,35,385 2,38,166
5.80x
52,76,288 1,36,358 15,71,936
Tata Technology IPO Allotment Ratio 10.78x 37.94x 8.58x
Flair 20,062 43,814 16,38,395 - -
No. Shares Issue Subscribed Allotment Ratio 7.05x 30.81x 11.76x
Offered/ 22-11 23-11 24-11 Gandhar 25,584 77,393 27,44,050 - -
Reserved 2023 2023 2023 Allotment Ratio 10.64x 64.39x 23.29x
QIB 1,05,47,382 4.08x 8.55x 203.41x
N II 79,10,537 11.93x 31.19x 62.11x • Kalyani Cast (BSE SME) (544023) :- Issue with an
R eta il 1,84,57,919 6.05x 11.56x 16.50x
Emp. 20,28,342 1.27x 2.47x 3.70x offer price of Rs. 139 listed on November 17 at Rs. 264.10,
S.H. 60,85,027 5.61x 20.48x 29.20x
Total 4,50,29,207 6.34x 15.10x 69.43x
i.e. 90 % premium.
* SME IPOs :- This week out of total five SME IPOs three
Subscription Figure of are BSE SME - SwashthikPlascon, Amic Forging, Deepak
Gandhar Oil Ref. IPO Chemtex and two are NSE SME - Net Avenue and
No. Shares Issue Subscribed Graphicsads.
Offered/ 22-11 23-11 24-11 • SwasthikPlascon (BSE SME) :- Rs. 40.76 crore is-
Reserved 2023 2023 2023
QIB 59,25,346 1.35x 3.14x 129.06x sue with a price band of Rs. 80-86 opened on November
N II 44,44,010 8.01x 27.24x 64.34x
R eta il 1,03,69,356 7.35x 18.25x 29.93x
24 and will close on November 29. It got 0.47x subscrip-
Total 2,07,38,712 5.78x 15.86x 65.63x tion on the first day.
• AIMC Forging (BSE SME) :-Rs. 34.80 crore issue with
Subscription Figure of
a price band of Rs. 121-126 will open on November 29
Fed Bank Fin. Main Line IPO
and close on December 1. It may list on December 11
No. Shares Issue Subscribed
Offered/ 22-11 23-11 24-11 around Rs. 135-140.
Reserved 2023 2023 2023 • Deepak Chemtex (BSE SME) :- Rs. 23.04 crore issue
QIB 1,54,60,916 0.00x 0.56x 3.48x
N II 1,15,95,687 0.22x 0.54x 1.49x with an offer price of Rs. 76-80 will open on November 29
R eta il 2,70,56,603 0.70x 1.30x 1.88x
Empl. 8,13,008 0.37x 0.79x 1.34x
and close on December 1. It may list on December 11
Total 5,49,26,214 0.39x 0.92x 2.24x around Rs. 95-10 and prices may spurt after listing.
• Net Avenue Techno (NSE SME) :- Rs. 10.26 crore
Subscription Figure of issue with an offer price of Rs. 16-18 will open on Novem-
Flair Writing Main Line IPO ber 30 and close on December 4. More information will be
No. Shares Issue Subscribed given next week.
Offered/ 22-11 23-11 24-11
Reserved 2023 2023 2023 • Graphisads Limited (NSE SME) :- Rs. 53.41 crore
QIB 39,01,316 0.56x 1.43x 122.02x issue with an offer price of Rs. 111 will open on November
N II 29,25,987 2.94x 10.62x 35.23x
R eta il 68,27,302 3.05x 7.58x 13.73x
Total 1,36,54,605 2.31x 6.47x 49.28x Cont...
Financial Weekly TM

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. Aerpace 28-11-2023 10,51,33,000 1 10 Shares for every BSE -- Next Week
Industries to Shares (F.V. Rs. 1) 3 shares held on
7-12-2023 (Rs. 10.51 Cr.) record Date 15-11-23
2. SEPC 6-12-2023 3,83,84,615 13 1 Shares for every BSE --
Limited to Shares (F.V. Rs.10) 36 Shares held on NSE Registrar Next Week
18-12-2023 (Rs. 49.90 Cr.) 28-11-2023 Cameo Corporate
30 and close on December 5. Minimum lot size is 1200 shares. More information will be given next
week.
* Rights Issue
AerpaceIndustries :- The company set up in March 2011 provides consulting services to Steel
Industry. It plans to raise Rs. 10.51 crore by issuing 10,51,33,000 shares.
* NCDs Issue
MuthootMercantile :-It is active in goldloan, investment, healthcare, forex services and money
transfer sectors. It is entering the market on December 4 with an NCDs issue with a base price of
Rs. 100 crore and shelflimit of Rs. 200 crore taking overall issue size to Rs. 300 crore.
GREY MARKET MOVEMENT

Mainboard IPO premiums are volatile in the grey market
Tata Techno premiums are 80-85% and Gandhar at 45-50% premium
Premiums Flair 25%, IREDA 38% and FedBank 2%
SME IPOs - Arrowhead and Rockingdeals premiums spurt after good response
Premiums are under pressure in SME IPOs SwasthikPlascon and AMIC Forging
Premiums start in Deepak Chemtex: spurt expected
Four mainboard IPOs - Tata Technologies, Gandhar OilRefinery India, IREDA, Flair Writing
have received a robust response from the investors, which has led to high volatility in the grey
market premiums of these issues. However, Fed Bank issue hasn't received good response.
Tata Technologies premiums have witnessed a spurt in the grey market. It is currently at 80-
85% of the offer price. Gandhar Oil Refinery premiums are 45-50%, Flair Writing premiums are
25% and Fed Bank premiums are 1-2% higher than the offer price. Almost all the issues wit-
nessed huge deals in interest rates and subject to segments last week.
In SME IPO segment, Arrowhead Seperation Engineering and Rockingdeals Circular
Economy issues premiums soared high after robust response from the investors. Premiums re-
mained under pressure in case of SwasthikPlasconand AMIC Forging issues. Deepak Chemtex
witnessed deals at premiums of 10/12. While deals have not started in Net Avenue Technolo-
gies, Graphisadsand Net AvenueTechnologies.
Financial Weekly TM

Swashthik Plascon Limited BSE SME IPO
Opened on 24th Nov. & Closes on 29th Nov.
Offer price Rs. 80 to 86; Listing on BSE SME Platform
It has posted inconsistent financial performance for the reported period
Sudden jump in bottom line with revenue decline in FY23 surprising
Considering all parameters on valuation front Issue appears fully priced
Investors may consider applying for long term reward in this issue
Incorporated in June 2006, Swasthik Plascon is a company that specializes in the production of PET bottles and
PET preforms. They manufacture PET bottles for various applications such as pharmaceuticals, liquor, FMCG packag-
ing, household, dishwashing liquids, repellent dispensers, etc. They also produce PET preforms for soft drink bottles,
packaged drinking water bottles, and juice bottles. As of March 31, 2023, the Company's Total Income and Restated
Profit after tax was Rs. 4,589.10 Lakhs and Rs. 302.19 Lakhs. The core strength of the company lies in the following.
Experienced management and workforce, with a focus on quality, safety, cost leadership, and time-bound execution
while maintaining existing client relationships. Financial Performance
Issue Details
Particulars (Rs. Cr.) Standalone Consolidated
• Opened on 24th November &
th FY21 FY22 FY23 H1FY24 FY23 H1FY24
Closes on 29 November 2023
Total Revenue 35.34 49.87 45.89 23.77 45.89 69.74
• Object of the issue : Funding capital expenditure for
Profit After Tax 0.07 0.13 3.02 3.82 3.02 5.28
developing new manufacturing facilities and
EPS 0.12 0.22 4.99 2.98 4.99 4.12
installation of Plant and Machinery,
Funding of capital expenditure RONW (%) 1.12 2.06 14.95 15.91 14.83 20.61
requirements of the Company towards Set up Solar Power Plant,
• Issue Size : 47,39,200 Shares, Rs. 40.76 Cr.
• Face Value Rs. 10 • Offer price Rs. 80 to 86
• Minumum Lot Size : 1600 Share • Listing on : BSE SME
• BRLM : Shreni Shares • Registrar : Bigshare Services Pvt Ltd
• Promoter : Mr Parasmal Mahendra Kumar, Mr Parasmal Ravindra Kumar, Mr Parasmal Dharmendra Kumar, Mr
Misrilal Parasmal, Mrs P Umrao, Mrs Mahendrakumar Nirmala, Mrs R Asha Jain and Mrs. D Anita.
• Pre Issue Promoter Holding : 60.00%
• Post Issue Promoter Holding : 43.81%
• Issue Constitutes 26.98% of the post issue paid up capital
Standalone
• Average of last 3 years EPS Rs. 2.59 & RONW 8.35%
• Pre IPO Equity Capital Rs. 12.82 Cr. • Post IPO Equity Capital Rs. 17.56 Cr.
• Pre IPO P/BV Ratio 4.60 (NAV : 18.74) • Post Issue : P/BV Ratio 2.33 (NAV : 36.89)
• Pre IPO P/E Ratio 17.23
Consolidated :
• Pre IPO : P/BV Ratio 4.30 (NAV : 19.99) • Post IPO P/BV Ratio : 2.28 (NAV : 37.80)
• Pre IPO P/E Ratio : 17.23 • Post IPO asking P/E on fully diluted equity : 14.15
• BRLM’s Performance : This is 24th Issue from BRLM in last 3 years. In last 10 Listing : 9 Issued opened with
premium & 1 Issue with Discount.
OTHER SIDE OF THE COIN
• The average cost of acquisition of equity shares by the promoter is Rs. 0.00, Rs. 5.33, Rs. 10, Rs. 12.45, Rs. 12.59,
Rs. 13.31 and Rs. 14.81 per share while the offer price is Rs. 80 to 86.
• Apart from initial equity shares capital at par, the company issued further equity shares at a fixed price of Rs. 15.67 in
March 2023.
• The company operates in a highly competitive segment.
• The company has posted its financial performance for FY21 to FY23 and H1FY24 on standalone basis. Also for FY23
& H1FY24 on consolidated basis.
• Post IPO Promoters 43.81 holding seems very low.
Recommendation : - The Company has posted inconsistent growth in its financial performance. In FY23
revenue has fallen around 10% but PAT has raised more than 22 times Standalone basis. And sudden jump net
profit of H1FY24 is also surprising. On valuation front considering P/BV of 2.28 and PE of 14.85 (Consolidated
basis) issue appears fully priced. Investors may apply for long term rewards.
Financial Weekly TM

Deepak Chemtex Limited BSE SME IPO
Opens on 29th Nov. & Closes on 1st Dec.
Company has posted consistent growth in bottom line for the last three fiscal
However it has reported setback in top line for the FY23
On valuation parameters issue appears fully priced compared to peers
Investors may consider applying for midterm prospective
Incorporated in 1997, Deepak Chemtex Limited is engaged in the business of manufacturing colorants for
applications in Food, Drug, Cosmetics, Cleaning compounds, Agriculture, and other industries. The company
manufactures FDC (Food, Drug, and Cosmetic) colors used in confectionary, bakery, desserts, beverages,
dairy products, seasonings, pet foods, pharmaceutical products, cosmetics & personal care products. It also
manufactures salt-free dyes used in the inkjet industry, pond dyes used in ponds, lakes, swimming pools, etc,
and other colorants used in car wash products, portable sanitation cleaners, detergent & soap, fuel, oil &
lubricants, smoke, seed treatment, crop protection, fertilizer indicators, floral dyes, etc.
Issue Details : - Issue Opens on 29th November & Closes on 1st December 2023
• Object of the issue : Towards the installation of plant & machinery in our existing premises. Investment in
its subsidiary DCPL Speciality Chemicals Private Limited for financing its capital expenditure towards the
installation of plant and machinery.
• Issue Size : 28,80,000 Shares, Rs. 23.04 Cr.
• Minumum Lot Size : 1600 Share • Listing on : BSE SME Financial Performance : Consolidated Basis
• BRLM : Hem Securities • Registrar : Bigshare Services Pvt Ltd Particulars (Rs. Cr.) FY21 FY22 FY23 H1FY24
• Promoter : Mr. Saurabh Deepak Arora and Ms. Trishla Baid Total Revenue 29.56 54.11 46.70 21.74
Profit After Tax 2.63 4.23 6.30 3.11
• Market Cap : Rs. 86.91 Cr.
EPS 3.30 5.30 7.89 3.90
RONW (%) 51.01 45.09 40.17 16.55
• Issue constitutes 26.51% of the post issue paid up capital
• Average of last 3 Yrs. EPS Rs. 6.26 & RONW : 43.61%
• Pre IPO Equity capital Rs. 7.98 Cr.
• Post IPO Equity Capital Rs. 10.86 Cr.
• Pre IPO : P/BV Ratio 3.40 (NAV : 23.55) • Post Issue : P/BV Ratio : 2.08 (NAV : 38.51
• Industry peer Group PE Ratio : 51.65
• BRLM’s Performance : This is 28th Issue from BRLM in last 3 years. In last 27 Listing : 27 Issued opened
with premium
• The average cost of acquisition of equity shares by the promoters is NIL and offer price is Rs. 80 per Share.
• It has also issued bonus shares in the ratio of 15:1 in August 2023 before filing DRHP.
• Apart from initial equity capital at par, the company issued further equity shares at a price of Rs. 100 from
Sept. 2018 to March 2023.
• Company derives a majority portion of revenue from exports.
• Company faces completion from both domestic as well as multinational company.
• The logo used by the company is not registered.
• Its working capital and labor intensive industry.
• Corporate office is on rented premises.
Recommendation : The company has posted consistent growth in its bottom line for the last three
fiscals. However it has reported setback in top line for FY23. Sudden jump in top & bottom line for the
H1FY24 is surprising. On valuation front considering P/BV of 2.07 and PE of 10.14. Issue appears fully
priced compared to peers. Investors may consider applying for midterm prospective.
Financial Weekly TM

AMIC Forging Limited BSE SME IPO
Opens on 29th Nov. & Closes on 1st Dec.
Company has posted consistent growth for the reported periods
Sudden jump in bottom line for the last 15 Months is surprising
On valuation parameters, issue appears fully priced
Investors may consider applying for long term prospective
Incorporated in 2007, AMIC Forging Limited, previously known as Kali Mata Forging Private Limited,
manufactures forged components catering to various industries. The company manufactures precision
machined components such as Rounds, Shafts, Blanks, and complete finished engineering, spare parts
e.g. Gear coupling, Hub, Round, Flange, and other all kinds of engineering spares as per customer speci-
fications and International Standards like AISI, BS, IS, DIN, etc, catering to the requirements of various
industries such as Heavy Engineering, Steel Industry, Oil & Gas, Petrochemicals, Chemicals, Refineries,
Thermal Power, Nuclear Power, Hydro Power, Cement Industry, Sugar and other related industries. These
products are mainly manufactured in carbon steel, alloy steel, stainless steel, Nickel, and Tools Alloys.
Issue Details
• Issue Opens on 29th November & Closes on 1st December 2023 Financial Performance : Consolidated Basis
• Object of the issue : Setting up of Manufacturing facility., Particulars (Rs. Cr.) FY21 FY22 FY23 Q1FY24
Working Capital Requirements., General Corporate Purposes. Total Revenue 26.43 71.39 116.83 29.79
• Issue Size : 27,62,000 Shares, Rs. 34.80 Cr. Profit After Tax 0.56 0.87 9.80 3.60
• Face Value Rs. 10 • Offer price Rs. 121 to 126 EPS 0.75 1.14 12.83 4.66
RONW (%) 8.27 11.29 49.40 15.39
• Minumum Lot Size : 1000 Share • Listing on : BSE SME
• BRLM : Gretex Corporate • Registrar : Bigshare Services Pvt Ltd
• Promoter : Mr. Girdhari Lal Chamaria, Mr. Anshul Chamaria, Ms. Manju Chamaria, and Ms. Rashmi Chamaria.
• Market Cap : Rs. 132.15 Cr.
• Pre Issue Promoter Holding : 73.38% • Post Issue Holding : 57.74%
• Pre IPO Eq. Capital Rs. : 7.73 Cr. • Post IPO Eq. Capital Rs.10.49 Cr.
• Pre IPO P/BV Ratio : 4.16 (NAV : 30.27)
• Pre IPO P/E Ratio : 1.01
• Post IPO asking P/E on fully diluted equity : 9.18
• BRLM’s Performance : This is 19 issue from BRLM in last 3 Year, In Last 10 listing : 6 Issue opened with premium
& 3 Issue with discount and 1 Issue with at par.
• The average cost of acquisition of equity shares by the promoters is Rs. 4.74, Rs. 4.84, Rs. 12.17, 8.19
and offer price is Rs. 126 per share.
• It has also issued bonus shares in the ratio of 8:1 in only 2023 before filing DRHP.
• Apart from initial equity capital issued at par the company issued further equity shares in a price range of
Rs. 50 to 160 from 31 March 2009 to 8 Sep. 2023.
• The company has negligible presence in Export markets.
• Business is capital and labor intensive.
• Company operates in a highly competitive industry.
• Manufacturing operations are critical.
• It has a negative cash flow in the past.
Recommendation : It has posted consistent growth in its financial performance for the reported
periods. However sudden jump in bottom line for the last 15 months seems surprising and unlikely to
continue going forwards. On valuation front considering P/BV of 4.16 and PE of 9.31 (based on FY23)
issue appears fully priced. Investors may apply for long term rewards.
Financial Weekly TM

Net Avenue Technologies NSE SME IPO
Opens on 30th Nov. & Closes on 4th Dec.
Offer price Rs. 16 to 18; Listing on NSE SME Platform
It was posted steady growth for the last three fiscals
It has reported Set-back in its bottom line for the FY23
On valuation front considering all parameters issue appears fully price
Investors may consider for midterm prospective
Incorporated in 1998, Net Avenue Technologies Limited, previously known as Net Avenue Inc. is engaged
in online digital direct-to-consumer business for Indian Ethnic wear and accessories. Net Avenue Technolo-
gies started out as a gifting portal - chennaibazaar.com, one of the first Indian gifting portals, offering gifting
solutions to Indians living abroad. The company subsequently diversified its offerings and launched cbazaar.com
and ethnovog.com providing Indian ethnic clothes and jewellery. Cbazaar is a global Indian Ethnic Fashion
brand specializing in Direct-to-Consumer Online Retail. Its primary markets include the United States, the UK,
and Canada.
Issue Details
• Issue Opens on 30th November & Closes on 4th December 2023
• Object of the issue : Customer Acquisition - Marketing and Awareness, Funding Working Capital Require-
ment, General Corporate Purpose, To Meet the Issue Expenses.
• Issue Size : 57,00,000 Shares, Rs 10.26 Cr.
Financial Performance : Consolidated Basis
Particulars (Rs. Cr.) FY21 FY22 FY23 Q1FY24
• Minumum Lot Size : 8000 Share • Listing on : NSE SME Total Revenue 14.48 32.76 34.51 7.84
• BRLM : Shreni Shares Limited Profit After Tax 0.23 2.62 1.76 0.94
• Registrar : Bigshare Services Pvt Ltd EPS 0.24 2.77 1.87 1.00
• Promoter : Mr. Rajesh Nahar and Mr. Ritesh Katariya RONW (%) -(10.12) 614.28 75.53 28.72
• Market Cap Rs. 38.62 Cr.
• Pre IPO Eq. Capital Rs. : 1.58 Cr. • Post IPO Eq. Capital Rs.2.15Cr.
• Pre IPO : P/BV Ratio 0.66 (NAV : 27.39)
• Post Issue : P/BV Ratio 2.85 (NAV : 6.31)
• Post IPO asking P/E on fully diluted equity : 10.45
• BRLM’s Performance : This is 25th Issue from BRLM in last 3 years. In last 10 Listing : 9 Issued opened with
premium & 1 Issue with Discount
• The average cost of acquisition of shares by the promoters is Rs. 0.12, and Rs. 0.14 per share and offer
Price is Rs.18 per share.
• It has also issued bonus shares in the ratio of 6 for 1 in August 2023.
• Apart from initial equity capital at par, the company allotted further equity shares in the price range of Rs.
233 - Rs. 468.65 per share (on the basis of FV of Re. 1 each) between April 2012 - December 2014.
• The face value of offer price is Rs. 1. If it is converted in to Rs. 10 ,then offer price will be Rs. 160 to 180 per
share.
• Post IPO Rs. 2.15 Cr. Equity capital indicates, it will take longer gestation period for migration to main
board.
Recommendation : The company has posted steady growth in its Top lines for the last three fiscals.
However it has reported Setback in bottom line for the FY23. If we annualize Q1FY24 earnings Sudden jump
in bottom line with decline in Top line seems surprising. On valuation front considering P/BV of 2.85 & PE of
10.45 issue appears Fully Priced . Investors may consider to apply for midterm prospective.
Financial Weekly TM

Graphisads Limited NSE SME IPO
Opens on 30th Nov. & Closes on 5th Dec.
Offer price Rs. 111; Listing on NSE SME Platform
The Company has posted steady growth in its Top lines for the last three fiscals
Sudden Nine fold jump in FY22 & also Q1 of FY24 is surprising
On valuation front considering all parameters issue appears Exorbitantly priced
High Risk taking investors may consider to apply for long term
Incorporated in 1987, Graphisads Limited is an integrated marketing, advertising, and communications
agency providing 360-degree solutions to its wide array of clients. Graphisads provides advertising ser-
vices on the work orders received by the Government sector, Private sector and Public sector entities. The
company also offers high-end ecosystem and end-to-end ad-tech communication solutions platform for
advertising media services consisting of Brand Strategy, Communication Strategy, Creative Services, Media
Planning, Media Buying and Media Release services which cover advertisement modes such as Newspa-
pers, Magazines, Radio, and TV, Events & Exhibitions, Digital Media, Brochures Printing, and display of
Outdoor Hoardings, Digital screens and street furniture.
Issue Details
• Issue Opens on 30th November & Closes on 5th December 2023
• Object of the issue : Repayment of certain borrowings, To meet the Working Capital requirements, Gen-
eral Corporate Expenses, Issue Expenses. Financial Performance : Consolidated Basis
• Issue Size : 48,12,000 Shares, Rs 53.41 Cr. Particulars (Rs. Cr.) FY21 FY22 FY23 Q1FY24
• Face Value Rs. 10 • Offer price Rs. 111 Total Revenue 47.56 89.73 99.05 26.02
• Minumum Lot Size : 1200 Share • Listing on : NSE SME Profit After Tax 0.56 5.58 5.57 2.06
• BRLM : First Overseas Capital Limited EPS 29.03 4.15 4.13 1.53
RONW (%) 12.99 14.26 1.66 4.6
• Registrar : Kfin Technologies Limited
• Promoter : Promoters of the company are Mr. Mukesh Kumar Gupta, Mr. Alok Mukesh Gupta, and
Mrs. Padma Mukesh Gupta.
• Market Cap Rs. 202.87
• Post Issue Promoter Holding : 73.66%
• Pre IPO Eq. Capital Rs. : 13.47 Cr. • Post IPO Eq. Capital Rs. 18.28 Cr.
• Pre IPO : P/BV Ratio 3.33 (NAV : 33.37) • Post IPO P/BV Ratio : 2.81 (NAV : 39.51)
• BRLM’s Performance : This is 21st Issue from BRLM in last 3 years. In last 10 Listing : 8 Issued opened
with premium & 1 Issue with discount.
• The average cost of acquisition of shares by the promoters is Rs. 2.25, Rs. 4.99, and Rs. 5.56 per share
and offer price is Rs. 111 per share.
• It has also issued bonus shares in the ratio of 6 for 1 in March 2023.
• Apart from initial equity capital at par, the company allotted further equity shares in the price range of Rs.
50 - Rs. 100 per share between December 2004 and December 2022.
Recommendation : The Company has posted steady growth in Top lines and bottom lines. However
Sudden Nine fold jump in FY22 & also Q1 of FY24 is surprising. It has reported minor setback in bottom
lines for the FY23. On valuation front considering P/BV of 2.81 and PE of 72.55 (based on FY23) and PE
of 25.10 (based on FY23) issue is Exorbitantly priced compared to its peers. High risk taking investors may
consider to apply for long term.
Financial Weekly TM

Smart Best Buy S. N. Zaveri
Bajaj Auto : Strong sales during festive season
TCS: Agreement with Austrailan Bourse a major boost
Ethos: Profit up, revenue up, Margin up
Supreme Industries moves ahead with expansion plan
TVS Motor : Entry into Vietnam will increase export
Bajaj Auto (Rs. 5929.00) (Code : 532977) : Shares of Bajaj Auto—whose popular
motorcycles include the Dominar, the Pulsar, and the Avenger—have given over 65 per cent re-
turns to investors year-to-date (YTD), that is, since January 2023. In Thursday's trading session
(November 23), the shares gained nearly 3 per cent and clocked a record high of Rs 5,939.05
apiece.Bajaj Auto reported a standalone net profit of Rs 1,836.1 crore for the July-September pe-
riod, a rise of 20 per cent on a year-on-year (YoY) basis that beat analysts' expectations. According
to analysts, 125 CC+ bikes saw 50 per cent YoY growth during the festive season, and the overall
growth of the company increased by 20 per cent YoY with a gradual recovery in exports. JP Mor-
gan has maintained an 'overweight' rating and has raised the target price from Rs 6,100 to Rs
6,400. Morgan Stanley also continued its 'overweight' rating on the stock and has raised the target
from Rs 5,449 to Rs 6,229. Buy.
TCS (Rs. 3457.00) (Code : 532540) : TCS Limited’s has signed an agreement with the
Australian Securities Exchange (ASX) to replace its existing cash equities clearing and settlement
platform. The deployment of TCS BaNCS for market infrastructure will usher in a next-generation
solution to serve the Australian market. The first phase will focus on delivering the clearing service,
followed by the settlement depository and sub-register services in the second phase. This staged
approach is designed to mitigate delivery risks and minimise the impact on industry stakeholders.
The company announced a buyback of up to 4.09 crore shares at a price of Rs 4,150 per share.
This represents 1.12% of the total paid-up equity share capital of the company.This was the fifth
time TCS would be conducting a share buyback programme. The previous four buybacks were
also done through the tender offer route. Buy on decline for longer term perspective.
Ethos (Rs. 2015.00) (Code : 543532) :- Ethos Ltd. is one of India’s largest luxury and
premium watch retailers. Ethos reported a 37.2% year-on-year (YoY) jump in profit after tax (PAT)
to Rs. 18.59 crore in the July-September quarter of the current financial year (FY24) from ?13.55
crore in the year-ago period. Its revenue increased 32.4% year-on-year to Rs. 235.2 crore in the
quarter under review from ?177.7 crore in the three months ended September 2022. The company's
operating profit or EBITDA (earnings before interest, taxes, depreciation and motivation) climbed
Cont...
Financial Weekly TM

43% year-on-year to Rs. 37.24 crore in the second quarter ended September 2023 from ?26.05
crore in the year-ago period. Also, EBITDA margins rose to 15.8% during the period under review
from 14.7% in the year-ago period. Ethos said that it will have a higher share of exclusive brands,
and will focus on increasing share of growth from pre-owned watches. The company announced
expansion plans for the jewellery and luggage business. Additionally, it is increasing the average
selling price.
Supreme Industries (Rs. 4130.00) (Code : 509930) : Supreme Industries deliv-
ered robust volume growth of 23.2% ahead of expectations, mainly led by growth in Plastic pipe
segment (up 29.9% YoY). EBITDA/kg improved to Rs 25.9/kg (vs. Rs21.6 QoQ and Rs13.2 YoY).
Volume growth was driven by plumbing and infra segments in Q2FY24. The company has in-
creased its volume growth guidance to 23% from 20%+ and also increase EBITDA margin guid-
ance to 14.5% from 14%+ for FY24. Supreme Industries is well placed to capture demand across
its segments given capacity expansion in different geographies and new product expansion. It is
expanding in PVC window & doors manufacturing and adding 4 piping systems. The company
has cash surplus of Rs 580 crore for funding expansion plans. Prabhudas Leeladhar has recom-
mended to accumulate this stock with a target price of Rs.4645. Meanwhile, Nuvama has main-
tained a buy rating on Supreme Industries with a target price of Rs 4959. The company is confident
of achieving over 15%+ volume CAGR over the medium term despite a high base. Buy.
TVS Motor (Rs. 1800.00) (Code : 532343) : TVS Motor Company announced its
entry into Vietnam in collaboration with Minh Long Motors – its distribution partner. The home-
grown two-wheeler manufacturer revealed that it would offer a range of scooters and underbone
motorcycles, across multiple price points. The company’s entry into Vietnam is its second major
global foray in two weeks. Last week, the company announced its entry into Europe starting with
France. TVS Motor, globally recognised for its engineering, innovation and quality, will leverage
Minh Long Motors extensive distribution network and deep market insights to offer some of the
best-in-class two-wheelers in the Vietnamese market. TVS Motor products are already sold in over
80 countries spanning the geographies of Asia, Africa and Latin America. Exports comprise nearly
25 percent of the company’s business as of H1 FY 2023. Export will be up further with entry into
Vietnam. Buy.

* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month • All stocks rates / indices on
24th November, 2023 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

Akshar Spintex Ltd • BSE: 541303 NSE : AKSHAR • CMP - Rs. 7.20
Bags International Order Valued at INR 1.71 Billion
Corporate SCAN
Akshar Spintex Ltd. is delighted to announce a sig-
nificant achievement for the company, underscoring its
unwavering commitment to growth and excellence in the
textile industry. This milestone involves the supply of
high-quality yarn to various fast fashion brands through
a globally recognized client, renowned for its associa-
tion with prestigious fashion labels. The total value of this international order stands at Rs. 171,17,50,000.
This considerable order serves as a testament to the global acknowledgment of the quality, reliability, and
competitiveness of Akshar Spintex Ltd.'s products in the international textile market.
This development carries several strategic advantages for the company:
The company's revenue growth is poised for a substantial boost, further reinforcing its financial stability.
The order not only contributes significantly to its top-line but also underscores the resilience and competitive-
ness of its offerings.
Securing international orders strengthens the company's market presence, positioning Akshar Spintex Ltd.
as a preferred supplier on the global stage. This enhanced market positioning opens avenues for future
growth and collaborations within the international textile market.
The company further added, "Our ability to meet and exceed international demand showcases the effi-
ciency, reliability, and robustness of our operational processes.
We interpret this achievement as a manifestation of the trust and confidence our clients place in Akshar
Spintex Ltd. It marks a crucial step toward sustained success in the global textile landscape, and our commit-
ment remains steadfast in creating enduring value for our shareholders and maintaining positive momentum
in our business operations.
We express our sincere gratitude for the continued support and trust from our shareholders and the broader
investment community. As we move forward, we are confident that the positive momentum generated by
strategic initiatives will propel continued growth and prosperity for Akshar Spintex Ltd."
Overall, the Rs. 1.71 billion order marks a pivotal moment for Akshar Spintex, promising not only immedi-
ate financial gains but also strategic advantages that can contribute to sustained growth and success in the
international textile market.
The company's strategic location in Gujarat, one of India's major cotton-producing regions, provides ac-
cess to a steady supply of raw materials, enhancing operational efficiency. Overall, Akshar Spintex Ltd stands
out for its financial prudence, operational excellence, and strategic initiatives, making it a competitive player in
the textile industry.
Earlier, Akshar Spintex Ltd. announced that it initiated the installation of a state-of-the-art Solar Rooftop
system with a capacity of 1000 KVA. This endeavor is in line with the company’s dedication to reducing our
carbon footprint, promoting energy efficiency, and contributing to a cleaner and greener environment. The
solar rooftop system has been procured from Soleos Solar Energy Private Limited, a reputed and trusted
provider in the renewable energy sector. The company further added, “We are confident that this installation
will not only enhance our operational efficiency but also make a substantial positive impact on our financial
sustainability. The installation process is well underway and is expected to be completed before the end of
November. Upon its successful implementation, we anticipate significant cost savings in terms of electricity
charges.
The solar rooftop system is projected to save the company approximately 70 Lacs to 1.20 Crore rupees
per annual. This substantial reduction in operational expenses will significantly improve the company’s profit-
ability and financial performance. Akshar Spintex Ltd firmly believes that responsible and sustainable busi-
ness practices are not only a corporate duty but also a means to secure a better and cleaner future for all.
The securities of the company are listed on both BSE (BSE: 541303) and NSE (NSE: AKSHAR).
***
Financial Weekly TM

Dalal Street Whispers Dilip K. Shah
ONGC (Rs. 189.00), HPCL (Rs. 320.00) :- The govt plans to ask ONGC to consider
launching a rights issue to help fund green projects at refining arm Hindustan Petroleum Corp, an
exercise that could raise about $1.9 billion.
TCS (Rs 3457) (532540) :- TCS had approved a buyback of shares worth Rs 17,000
crore at a price of Rs 4,150 each.
JSW Steel (Rs 782) (500228) :- JSW Steel has completed the entire strategic invest-
ment of Rs 750 crore in JSW Paints. With this, the company now holds 12.84 % stake in JSW
Paints.
Power Finance Corporation (Rs 315) (532810) :- PFC is planning will raise up to
Rs 3,500 crore through a bond issue.
Apar Ind (Rs 5606) (532259) :- Apar Industries has launched a QIP with issue size of
Rs 1,000 crore and indicative price Rs 5264, which is at a discount of 7.4 per cent to last closing
price.
NMDC (Rs 173) (526371) :- NMDC has fixed the iron ore price at 5,400 per tonne and
fines price at 4,660 per tonne with effect from Nov 23.
Lupin (Rs 1243) (500257):- Luoin has announced the launch of Vilfuro-G, the world's
first fixed-dose triple combination drug (FDC) for the treatment of chronic obstructive pulmonary
disease (COPD) in India.
LTIMindtree (Rs 5472) (540005):- LTI Mindtree has launched a quantum-safe virtual
private network (VPN) link in London in partnership with Quantum Xchange and Fortinet on the
platform. This is aimed at securing data transmission for the quantum computing era.
L&T Finance (Rs 140) (533519):- L&T Finance has signed a financing agreement with
the Asian Development Bank (ADB) for $125 million to support financing in rural and peri-urban
areas, particularly for women borrowers.
Siemens (Rs 3627) (500550) :- Siemens has received a GST demand and penalty
notice worth Rs 23.7 crore from Belapur's CGST and Central Excise Commissionerate.
Anup Engineering (Rs 2716) (542460) :- National Company Law Tribunal has
given the nod for scheme of amalgamation between Anup Heavy Engineering Ltd and The Anup
Engineering Ltd.
Clean Science and Technology (Rs 1343) (543318):- Clean Science and tech-
Cont.....
Financial Weekly TM

nology have made an investment of Rs 60 crore in Clean Fino-Chem Ltd, a wholly owned subsid-
iary of the company, by way of a rights issue.
Karnataka Bank (Rs 213) (532652) :- Karnataka Bank has announced a strategic
corporate tie-up with Bajaj Allianz Life Insurance Company to distribute life insurance products to
its customers. This collaboration will leverage the strength of Bajaj Allianz's product capabilities
and Karnataka Bank's large customer base with a wide distribution of over 900 branches across
India.
Prestige Estates Projects (Rs 924) (533274) :- Prestige Estates has launched
Prestige Glenbrook, a high-rise residential project in Bangalore's IT Hub. The development com-
prises 285 apartments across two high-rise towers with a developable area of 0.7 million square
feet and a revenue potential of Rs 550 crore.
Vishnu Chemicals (Rs 316) (516072):- Vishnu Chemicals has incorporated a sub-
sidiary, Vishnu International Trading FZE, in Dubai, UAE. The new subsidiary will distribute, trans-
mit, and sell chemicals.
Indian Hotels Company (Rs 421) (500850):- IHCL has invested Rs 55 crore in the
equity shares of Genness Hospitality and Rs 35 crore in Qurio Hospitality via rights issues. Being
wholly owned subsidiaries, there is no change in the shareholding percentage of the company in
Genness and Qurio post-the said investment.
Hazoor Multi Projects (Rs 152) (532467) :- Hazoor Multi Projects has bagged a
work order through an endorsement agreement to the company's subsidiary, Hazoor Infra Projects,
by Arawali Kante Multi Projects and authorised by the Ministry of Road Transport and Highways.
The work order includes the rehabilitation and upgrade of NH-66 (Arawali to Kante section) to four
lanes in Maharashtra under NHDP-IV on Hybrid Annuity mode in Ratnagiri. The projected value of
the project is Rs 1,129.81 crore.
Honasa Consumer (Rs 475) (544014) :- Honasa Consumers, The Mamaearth par-
ent firm has reported a net profit of Rs 29.40 crore for Q2FY24 as against a net loss of Rs 15 crore
in the year ago period. Consolidated revenue grew 21 % YoY to Rs 496.10 crore.
Infosys (Rs 1437) (500209) :- Infosys has inked a strategic long-term collaboration with
TK Elevator to help in its digital transformation with an artificial intelligence (AI)-first strategy. The
financial details of the engagement were not disclosed.
State Bank of India (Rs 560) (500112) :- SNI plans to increase interest rates on
unsecured loans - personal loans - following RBI’s move to mandate higher risk weighting for
those segments. The increase in risk weighting for unsecured loans will have an impact of 2-3
basis points on SBI’s net interest margin (NIM).
Financial Weekly TM

CG Power and Industrial Solutions (Rs 429) (500093):- CG Power has filed an
application with the Ministry of Electronics and Information Technology to set up an outsourced
semiconductor assembly and test facility with an estimated investment on the project of $791 mil-
lion (Rs 6,592 crore), and with a spread over five years. The same is expected to be funded by a
combination of subsidy, joint venture partners’ equity contribution and debt, as required.
Tata Steel (Rs 126) (500470) :- The Tata Steel board has approved the allotment of
7.58 crore shares to eligible shareholders of Tata Steel Long Products Limited. The share ex-
change ratio will be 67:10, which means that 67 shares of Tata Steel will be allotted for every 10
shares of Tata Steel Long Products.
Maruti (Rs 10518) (532500):- Maruti’s board will meet on November 24 to consider
allotment of 12.32 lakh equity shares on a preferential basis to Suzuki Motor Corporation.
Titan (Rs 3398) (500114) :- Titan has received approval from the Competition Commis-
sion of India for acquisition of stake in CaratLane. Earlier in August 2023, Titan announced its plan
to buy 27.18 per cent stake in CaratLane.
Jio Financial Services (Rs 226) (543940) :- Jio Financial Services has applied to
the Reserve Bank of India (RBI) for conversion of the company from Non-Banking Financial Com-
pany (NBFC) to Core Investment Company (CIC).
Aurobindo Pharma (Rs 1032) (524804) :- Aurobindo Pharma’s US-based step-

down arm Evive Biotech, a global biopharmaceutical company, received the US FDA approval of
Ryzneuta (Efbemalenograstim alfa Injection) for Chemotherapy-Induced Neutropenia (CIN).
Bank of Baroda (BoB) (Rs 193) (532134) :- Life Insurance Corporation of India
(LIC) has increased its stake in the bank from 4.98 % to 5.03 %.
Strides Pharma (Rs 496) (532531) :- Strides Pharma’s wholly-owned Singapore-

based subsidiary, Strides Pharma Global, received approval from the US FDA for Levetiracetam
Oral Solution USP, 100 mg/mL. This generic drug is taken after the partial onset of seizures.

* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month • All stocks rates / indices on
24th November, 2023 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

Banking, sugar, hotels
sectors are looking attractive
Col Ajayastromoneyguru
Mobile 9414056705
Year 2023 is represented by planet ketu and fourth week of Nov month is represented by planet
known known as Saturn
During week sun and Mars a are making conjuction in Mars house while Saturn is in own house
. Mercury in Jupiter house helping Banking stock to see postive move .
Saturn and Mars are in square angel .
Previous week our recommendation for NHPC 6.8%, Power grid corp 1.65%, shown up trend
while crude oil also shown 2% up trend , Coreiender was up by 3.5 % as per our advance predic-
tion.
We try to give market 360 degree view .
Now this week Postive move expected in banking, sugar, hotels, sectors are looking attractive
for investment for mid term investment.
Indian Hotel, HT Media, Zee entertainment, Shree Renuka sugar, Indian Hotel et for mid term
investment point of. Views .
The above recommendation are purely for research purpose, take advice from your financial
advisor for taking any financial decesion .
Financial Weekly TM

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

FOR STOCK MARKET INVESTMENTS
(27th November to 3rd December 2023)
In this week, Rahu in Pisces, Ketu along with venues in Virgo, mars, mercury and sun in Scor-
pio, Saturn in Capricorn and Jupiter in Aries, Moon occupies Taurus, Gemini and cancer houses.
On 27th November and 28th November 2023, Jupiter in arise takes 10th Position towards Saturn
in Capricorn may favor the market. On 29th November and 30th November 2023, Rahu in Pisces
taking seventh position towards ketu and venues in Virgo may bring volatility in the market. On 1st
December 2023, Saturn in Capricorn taking third position towards rahu in Pisces may favor the
market. Banking, Information technology, agro based business, pharmaceuticals may boom.
GOLD PRICE MOVEMENTS

(27th November to 3rd December 2023)
27th November and 28th November 2023, Jupiter in arise takes 10th Position towards Saturn in
Capricorn may favor the market.
29th November and 30th November 2023, Rahu in Pisces taking seventh position towards ketu
and venues in Virgo may bring volatility in the market.
1st December 2023, Saturn in Capricorn taking third position towards rahu in pisces may favor
the market.
Financial Weekly TM

Senior Astrologer
Dharmesh Joshi
Mob. : 9909941816 • E-mail : stockmarket@ganeshaspeaks.com
Nifty Predictions ; 27-11-2023 to 1-12-2023

" Please consider 10 minutes plus and minus in each prediction, and act accordingly. " Ganesha
advises you to compare every prediction with the prediction of the previous time slot.
27-11-2023 Monday :- There will be a holiday in the market today.
28-11-2023 Tuesday :- Thursday November 30th will conclude the November F&O series. Exit
polls of 5 state elections on the same day evening and actual results on Sunday 3 December " Due
to 5 big main board IPOs including Tata Technology and several SME IPOs, most of the cash
stocks have no traction, prices rise but volume is very low, as the massive funding of the retailer
will be heavily constrained in the current popular IPOs. " Volume in most cash stocks can be seen
only after the election results of 5 states. " Slot no. 12 books which are from 25-11-2023 to 02-02-
2024 to be read once and also given in monthly file. " 9.15 to 12.00 Nifty mix to positive. " 12.00 to
13.40 Nifty may be down. " 13.40 to 14.40 Nifty up. " Nifty remained down from 14.40 to 15.30.
29-11-2023 Wednesday :- Prepare for pure speculation today. " Sell Nifty around 10.10, exit
around 12.20. " Buy Nifty around 12.50, exit around 14.10.
30-11-2023 Thursday :- " 9.15 to 10.00 pass stock market time. " 10.00 to 11.50 Nifty up. " Nifty
remained down from 11.50 to 13.25. " Now divide the next time into 2 parts- " Part - A = 13.25 to
14.34 Nifty up. " Part - B = Profit booking at 14.34 to 15.30 Nifty.
01-12-2023 Friday :- " From the point of view of the planets, today can be called a very boring
intraday. " Part - 1 = 9.15 to 12.00 Nifty up side jobbing and passing time. " Part - 2 = 12.00 to 13.28
Take "No Position Zone" tee break. " Part - 3 = Up in starting from 13.28 and after some time down
pattern which is the ultimate "Khaya piya kuch nahin, glass toda bara ana" time slot.
Financial Weekly TM

Gandhar Oil Refinery got overwhelming response
from investors ; IPO overall subscribed 65.63x
Gandhar Oil Refinery (India) Limited is a prominent manufacturer of
white oils that caters to the consumer and healthcare end-industries.
The company offers an extensive range of over 350 products
Gandhar Oil Refinery (India) Limited is a prominent manufacturer of white

oils that caters to the consumer and healthcare end-industries. As of June 30,
2023, the company offers an extensive range of over 350 products that prima-
rily fall under three categories - personal care, healthcare and performance
oils (PHPO), lubricants, and process and insulating oils (PIO) - under the brand
name "Divyol".
The company's products serve as crucial ingredients for various end prod-
ucts in sectors such as consumer goods, healthcare, automotive, industrial,
power, tyre, and rubber, and are used by leading Indian and global companies.
As of June 2023, company has catered to 100 countries across the globe.
The company served more than 3500 clients including companies like Procter
& Gamble ("P&G"), Unilever, Marico, Dabur, Encube, Patanjali Ayurved, Bajaj
Consumer Care, Emami and Amrutanjan Healthcare.
On the financial performance front, for the last three fiscals, the company
has (on a consolidated basis) posted a total income/net profit of Rs. 2242.59
cr. / Rs. 100.32 cr. (FY21), Rs. 3568.96 cr. / Rs. 163.58 cr. (FY22), and Rs.
4101.79 cr. / Rs. 213.18 cr. (FY23). For Q1 of FY24 ended on June 30, 2023,
it earned a net profit of Rs. 54.28 cr. on a total income of Rs. 1071.52 cr.
For the last three fiscals, GORL has (on the

basis of restated data) reported an average EPS
of Rs. 20.11 and an average RoNW of 31.11%.
The issue is priced at a P/BV of 1.67 based on
its NAV of Rs. 101.35 as of June 30, 2023, and
at a P/BV of 1.49 based on its post-IPO NAV of
Rs. 113.70 per share (at the upper cap).
Objects of the Issue If we attribute annualized FY24 earnings to
• Investment in Texol by way of a loan for financing the repayment/pre-pay- post-IPO fully diluted paid-up equity capital of
ment of a loan facility availed by Texol from the Bank of Baroda;
the company, then the asking price is at a P/E
• Capital expenditure through purchase of equipment and civil work required
for (i) expansion in capacity of automotive oil at the company's Silvassa Plant; of 7.62. Thus the IPO appears reasonably
(ii) expansion in the capacity of petroleum jelly and accompanying cosmetic priced. It has posted PAT margins of 4.47%
product division at the company's Taloja Plant; and (iii) expansion in capac- (FY21), 4.58% (FY22), 5.20% (FY23), and
ity of white oils by installing blending tanks at the company's Taloja Plant;
• Funding working capital requirements of the Company 5.07% (Q1-FY24), while its RoCE margins were
• General corporate purposes. 29.37%, 42.10%, 41.19%, and 9.30% respec-
tively for the reported periods. As a manufac-
Gandhar Oil Refinery India Limited Financial Information turer of speciality oils, its products and pro-
Key financials 2Y CAGR (%) TTM FY23 FY22 FY21 cesses are required to comply with strict stan-
Revenue (Rs cr) 35.5 4266 4079 3543 2221 dards and other specifications prescribed by
EBIT (Rs cr) 53.5 289 300 231 127
customers. It has completed rigorous selection
processes for securing business from several
PAT (Rs cr) 37.7 177 190 147 100
of its customers and has been able to maintain
Net worth (Rs cr) 30.7 811 760 561 445 high customer loyalty. As of June 30, 2023, it
Total Debt 56 385 220 191 90 had 444 full-time employees.
Financial Weekly TM

News Track
Shreeji Translogistics Ltd.

Board to Consider Issue of Bonus Shares
Shreeji Translogistics Limited (STL), one of the large integrated national logistical solution
providers in India, has announced that its board will meet on 21 December, 2023 to consider
the proposal for issuance of bonus shares, and to consider the increase in authorized share
capital of the company. The board will further consider seeking approval of the shareholders
through Postal Ballot in respect of the above resolutions. Recently, the company announced
that it has successfully executed Railway Rake Handling & Shifting (H&S) and Transporta-
tion services into different locations namely Vishakhapatnam (Andhra Pradesh), Bhilai
(Chhattisgarh), Haridwar (Uttarakhand). This reflects STL’s commitment to providing com-
prehensive and timely solutions for efficient handling and upliftment of steel materials from
railway sidings. STL has extensive PAN India reach to this service, ensuring comprehensive
coverage and accessibility across the nation. Commenting on the announcement, the Man-
agement team of Shreeji Translogistics Limited, stated: “We are pleased to announce the
extension of the field of Railway Rake Handling and transportation services in diverse loca-
tions namely Vishakhapatnam, Bhilai, Hardiwar by providing efficient and reliable logistics
solutions. With a focus on punctuality, STL ensures swift and on-time handling of steel
materials and streamlining supply chain processes.

Financial Weekly TM

News Track
Sprayking Agro Equipment Ltd.

Secures Victory as Customs, Excise &
Service Tax Appellate Tribunal Rules in Favor
Sprayking Agro Equipment Limited, a leading brass manufacturer, has announced that it
has received a final order ruling for INR 115.56 million from the Customs, Excise & Service
Tax Appellate Tribunal, regarding its contingent liability from prior years. The Central Excise
Department sent the Company a notice for INR 115.56 million for FY 2011–12. The company
was battling the department over the same allegation, and on November 6, 2023, the Cus-
toms, Excise & Service Tax Appellate Tribunal ruled in the company's favor; as a result, the
company is no longer liable for INR 115.56 million. Commenting on this development, Mr.
Hitesh Dudhagara, Managing Director of Sprayking said: “We are delighted to share the
recent outcome regarding the long-standing dispute with the Excise department, pertaining
to a contingent liability from prior years amounting to INR 115.56 million. After a persistent
battle and rigorous efforts, we are pleased to announce that the Customs, Excise & Service
Tax Appellate Tribunal ruled in our favor on November 6, 2023. This ruling signifies the
culmination of our unwavering commitment to uphold transparency, compliance, and fair-
ness in our operations.

Financial Weekly TM
TM
Financial Weekly
Editor : Dilip K. Shah
ARCHI PUBLICATIONS
311 to 313, Nalanda Enclave, Pritamnagar 1st Dhal, Ellisbridge, Ahmedabad-6. GUJARAT, INDIA
Phone : 079 - 2657 66 39, Fax : 079 - 2657 99 96 • Mob. : 0982500 6980
E-mail :
smartinvest25@yahoo.in / smartinvest25@gmail.com / info@smartinvestment.in
web : www.smartinvestment.in
Disclaimer :- Investment recommendations made in Smart Investment are for information
purposes only and derived from source that are deemed to be reliable but their accuracy and
completeness are not guaranteed. Smart Investment or the analyst / writer do not accept any
liability for the use of this column for the buying or selling of securities. Readers of this column who
buy or sell securities based on the information in this column are soley responsible for their ac-
tions. The author, his company or his acquaintance may / may not have positions in the scrips
featured herein
Financial Weekly TM
Subscription Chart
B.O.S.S. (Best of Smart Services)
3 Month 6 Month 1 Year
10,000/- 18,000/- 35,000/-
Smart Investment Report (SIR)
1 Month : Rs. 2,000/- only
DOW (Den of Wealth)

6 Month 1 Year 2 Year 3 Year
4000/- 7,000/- 12,000/- 18,000/-
Soft Copy on Every Sunday Morning
Smart Investment Weekly 6 Months 1 Year 2 Years 3 Years
1. Gujarati Edition 1700 3100 5500 7300
2. English Edition 1200 1800 3200 4500
Soft Copy of Smart Plus News Letter
(Every Sunday Night) * For Private Circulation only
6 Month 1 Year 2 Years 3 Years
1. Smart Plus 1300 2200 4000 5400
Combined Package for Weekly & News Letter

Guj. & English Weekly E-Copy (Every Sunday Morning)
With Smart Plus News Letter (Every Sunday Night)
6 Month 1 Year 2 Years 3 Years
1. Gujarati + Smart Plus 2800 4600 8400 12500
2. English + Smart Plus 2000 3500 6200 9000
Ring : (M) 9825306980 / 9825006980 / (O) 079-26576639
smartinvest25@gmail.com , info@smartinvestment.in
If you want to subscribe our copy, Please Register into our website
You will be assigned your subscription over there itself
TM
Subscription Rates
All rates are inclusive of GST
Smart Investment Financial Weekly (English)

6 Months 1 Year 2 Year 3 Year
1200 1800 3200 4500
Smart Investment Financial Weekly (Gujarati)
1700 3100 5500 7300
Smart Bonanza (Gujarati)
1000 1600 2600 3800
Smart Plus News Letter
1300 2200 4000 5400
Smart English + Smart Plus News Letter (Combo)
2000 3500 6200 9000
Smart Gujarati + Smart Plus News Letter (Combo)
2800 4600 8400 12500
Internet Payment
Online Payment Gateway Facility thorugh your Credit / Debit Card is available.
Please logon to Tab “Subscribe” on our Website
You will be assigned your subscription over there itself
Financial Weekly TM

-: Warning :-
Your soft Copy (E-mail Edition)

is for your exclusive use only.
Any attempt to share your copy
or
forwarding your copy
to a non-subscriber
will disqualify your membership
&
We will be compelled to stop
your supply
and
forfeit your subscription
thereafter without
any
refund to you.

Smart Investment English - 231126 - 105023

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Smart Investment English - 231126 - 105023

Uploaded by

Copyright:

Available Formats

TM

Only Financial Weekly Published in

Editor : Dilip K. Shah

Phone : 079 - 2657 66 39

GAMC No. :1703/2021-23. Issued by SSP Ahd. Valid up to 31-12-2023

FII ACTIVITY (Rs. in Cr.)

Click on our website : www.smartinvestment.in

26th November 2023 to 2nd December 2023 3

26th November 2023 to 2nd December 2023 4

Subscriber will receive recommendation through Telegram

GAMC No. :1703/2021-23. Issued by SSP Ahd. Valid up to 31-12-2023

According to the Indian Newspaper Society,

26th November 2023 to 2nd December 2023 6

26th November 2023 to 2nd December 2023 7

26th November 2023 to 2nd December 2023 8

R-Zone Being Tested

:::: INDEX LEVELS ::::

26th November 2023 to 2nd December 2023 9

Kalpna J (Email- Kjtech79@gmail.com)

HDFC Life Insurance Company Ltd (Rs. 667.00)

tion, pension, savings, investment, annuity, and health.

Annuity and Health

26th November 2023 to 2nd December 2023 10

on the online platforms or websites such as e-commerce, m-commerce, internet, intranet as

Nykaa is India’s leading omnichannel beauty destination that commenced operations in

2012. The company is headquartered in Mumbai. Nykaa is preferred since it is exclusively

one-stop shop for all beauty, grooming and wellness needs.

advice from experts and a range of informative videos.

Rapid Fire Stocks

26th November 2023 to 2nd December 2023 11

26th November 2023 to 2nd December 2023 12

26th November 2023 to 2nd December 2023 13

26th November 2023 to 2nd December 2023 14

26th November 2023 to 2nd December 2023 15

obviously in their going up or down as the case may be.

before investing in any stocks.)

26th November 2023 to 2nd December 2023 16

Download our app

26th November 2023 to 2nd December 2023 17

Performance Report - Mid-term / Long-term

Subscriber will receive recommendation through Telegram

26th November 2023 to 2nd December 2023 18

Smart School Article 53

business segment tend to do well along with that particular index.

26th November 2023 to 2nd December 2023 19

knowledge of Micro and well as Macro causes effecting the investment.

26th November 2023 to 2nd December 2023 20

second opinion of a Doctor before going for any medical procedure.

purpose of analysis and is purely educational in nature.

- Vishal Baliya (Co-Founder-Happy Candles Investment)

- Mobile Number: +91 7043469423, YouTube: Happy Candles Investment Financial

- Twitter Handle: @candles_happy, Instagram: happycandlesinvestment

26th November 2023 to 2nd December 2023 21

310, Arista Business Space, Opp. Stellar, Sindhubhavn Road,

26th November 2023 to 2nd December 2023 22

US Fed meeting minutes -

US Fed meeting minutes - Indicates pause

US 10-year bond yield @ 4.46 & Dollar Index @ 103.30

26th November 2023 to 2nd December 2023 23

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

26th November 2023 to 2nd December 2023 24

26th November 2023 to 2nd December 2023 25

This are some stocks we received from our subscribers,