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1st October
:: Shree Ganeshay Namh :: 2023 to 7th October 2023 2
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Only Financial Weekly Published in English & Gujarati
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GAMC No. :1703/2021-23. Issued by SSP Ahd. Valid up to 31-12-2023

VOL : 16 • Issue No: 34 RNI No : GUJENG / 2008 / 24320 1st October to 7th October 2023

FII ACTIVITY (Rs. in Cr.)

DATE BUY VALUE SELL VALUE NET VALUE
25-09-2023 8510.65 10843.68 -2333.03
26-09-2023 8750.81 9444.28 -693.47
27-09-2023 9575.71 9929.52 -354.35
28-09-2023 10711.39 14075.61 -3364.22
29-09-2023 10058.35 11744.05 -1685.7
TOTAL 47606.91 56037.14 -8430.77
DII ACTIVITY (Rs. in Cr.)
DATE BUY VALUE SELL VALUE NET VALUE
25-09-2023 8621.77 7042.49 1579.28
26-09-2023 7502.47 6787.72 714.75
27-09-2023 8419.68 8033.4 386.28
28-09-2023 15118.41 12406.93 2711.48
29-09-2023 8788.5 6037.01 2751.49
TOTAL 48450.83 40307.55 8143.28
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Financial Weekly TM

1st October 2023 to 7th October 2023 3

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Financial Weekly TM

1st October 2023 to 7th October 2023 4

Latest Top Holdings (Q1FY24)
Rakesh
Jhunjhunwala PORTFOLIO
OF
CELEBRITY
Co. Name Rs. Cr.
INVESTORS
Titan Company 15895.00
Star Health 6352.00
Tata 3348.00
CRISIL 1540.00
Canara Bank 1399.00
IHCL 1248.00
NCC 1236.00
Fortis 1095.00

Sunil Mukul Ajay

Singhania Agarwal Upadhyaya

Co. Name Rs. Cr. Co. Name Rs. Cr. Co. Name Rs. Cr.
Route Mobile 257.00 Suzlon 321.00 Navin Fluorine 226.00
ION Exchange 255.00 Raymond 209.00 Genus 158.00
HindWare 202.00 Intellect 181.00 Elecon Engg. 158.00
Technocraft 129.00 Radico 174.00 Usha Martin 128.00
Mastek 118.00 PDS 158.00 Precision 49.00
Carysil 99.00 Neuland 156.00 On Mobile 28.00
HGIEL 93.00 ION Exchange 136.00 Dollar Wear 27.00
Rupa & Co. 89.00 Dishamn Carbogen 126.00 Skipper 25.00
Financial Weekly TM

1st October 2023 to 7th October 2023 5

Latest Top Holdings (Q1FY24)
Ashish Radhakishan
Kacholia Damani’s
DOLLY
KHANNA
Co. Name Rs. Cr. Co. Name Rs. Cr. Co. Name Rs. Cr.
CPCL 139.00 Safari 190.00 D-Mart 166137.00
Monte Carlo 38.00 Garware Hi-Tech 124.00 VST 1692.00
Som 33.00 Gravita India 122.00 Sankar Cement 1573.00
KCP 26.00 PCBL 117.00 Trent Limited 1114.00
Nitin Spinners 22.00 Ami Organics 101.00 Sundaram Finance 757.00
POCL 19.00 Fineotex Chemicals 99.00 United Breweries 516.00
Talbross 18.00 SJS 95.00 3M India 503.00
Prakash Pipe 17.00 Shaily 89.00 Blue Dart 210.00

Porinju Nemish Vijay Kedia

Veliyath Shah

Co. Name Rs. Cr. Co. Name Rs. Cr. Co. Name Rs. Cr.
Aurum 31.00 LMW 1664.00 Tejan Netwrok 295.00
RP - Sanjiv Goenka 29.00 Asahi India Glass 903.00 Atul Auto 233.00
Orientbell Tiles 25.00 Elgi 275.00 Elecon 158.00
Centum T&S 20.00 EID Parry 116.00 Vaibhav Global 144.00
Shalimar Paints 18.00 Bannar Aman Sugar 93.00 ARAPL 92.00
Camline Kokuyo 14.00 Vascon 51.00 Club Mah. 82.00
Kaya Skin Clinic 14.00 Investment & Precision 24.00 Repro 73.00
DURO 10.00 Zodiac 4.6 Patel Engg. 69.00
Financial Weekly TM

1st October 2023 to 7th October 2023 6

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

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Financial Weekly TM

1st October 2023 to 7th October 2023 8

Jatin Sanghavi
Market Scan (Mumbai)
(M) 098205 26455
jatinsanghavi100@yahoo.com

Support Zone Respected

50 DMA Holds for Now
The Market is undergoing a much needed Correction, thereby providing a good entry opportunity for
stocks which were always running up. Nifty managed to take Support at the medium term average of
50dma. Both MACD and RSI gave a Sell signal after forming a Negative Divergence on the daily timeframe,
which has resulted in the Correction which the Market is currently witnessing. Current Support Zone of
19584-19491 has held for the week, but in case of it getting breached, Nifty can slide lower to a very strong
Support Zone (19234-19201) which is also the starting point of the current short term rally.
BULLISH HARAMI :- On Thursday, both Sensex and Nifty formed a big Black body candle which
was engulfing previous days white body. Since the formation was at bottom, it can be termed as Last
Engulfing Bottom which is a Bullish Reversal pattern. Friday saw a Bullish Harami formation, which requires
confirmation in the form of Bullish candle on Monday. The Weekly timeframe has seen a Bullish Doji, which
is a Bullish Reversal pattern but requiring confirmation. Thus daily as well as weekly candlestick formations
require confirmatory bullish candles for the upward move to gain strength.
19766-19878 : R-ZONE-I :- Nifty has strong Support at the S-Zone I at 19584-19491 which is result of
confluence of intermittent tops and bot-
toms along with the 50dma. In case if
this S-Zone I gets breached, Nifty can
slide down to the starting point of the
Rally which is at the Bullish Gap
19234-19201. Nifty has a R-Zone I at
19766-19878 which is a result of
confluence of first Bearish Gap and In-
termittent Top. R-Zone II comes in at
second Bearish Gap at 20050-20115.
PATTERN ANALYSIS :- After
forming second degree Rounding Bot-
tom, targets will be at Nifty 20466-
This Week Recommendations 20759 & Sensex 69408-70515. The
bigger patterns for the Nifty are Bull-
Stocks CMP SL Tgt-1 Tgt-2 ish Cup & Handle and Weekly Round-
Buy Grasim 1942 1896 2013 2087 ing Bottom. The Targets for Weekly
Buy UjjivanFin 559 545 581 605 C&H are placed at Sensex 66978
(161.8%) -70769 (pattern) & Nifty
Buy RBL Bank 252 246 261 271 19925 - 21045. The Targets for Weekly
Buy BharatWire 273 266 285 299 RB are still intact and are at 69243-
Buy BHEL 131 127 137 144 73569 for the Sensex & 20718-22025
for the Nifty.

:::: INDEX LEVELS ::::

S3 S2 S1 CLOSE R1 R2 R3
NIFTY 19229 19366 19491 19638 19766 19901 20050
SENSEX 64768 65106 65488 65828 66388 66728 67294
Financial Weekly TM

1st October 2023 to 7th October 2023 9

Plaza Wires Limited
Enters into the capital market with Rs.71 crore IPO
Plaza Wires Limited is engaged in the business of manufacturing and selling wires, and selling
and marketing LT Aluminium cables and fast-moving electrical goods (FMEG) under its flagship
brand "PLAZA CABLES" and home brands such as "Action Wires" and "PCG"

IPO CORNER
Plaza Wires Limited is engaged in the business of
manufacturing and selling wires, and selling and mar-
keting LT Aluminium cables and fast-moving electri-
cal goods (FMEG) under its flagship brand "PLAZA
CABLES" and home brands such as "Action Wires"
and "PCG". Plaza Wires was originally incorporated
as Navratna Wires. Its key products in the wires and
cables segment include house wires, single &
multicore round flexible industrial cables and indus-
trial cables for submersible pumps & motors up to
1.1kv grade. The company also provides other wires
and cable products such as LT power control cables, Plaza Wires IPO Details
TV dish antenna co-axial cables, telephone & switch- IPO Date : September 29, 2023 to October 4, 2023
board industrial cables, computer & LAN networking Face Value : Rs. 10 per share
cables, close circuit television cables and solar cables, Price Band : Rs. 51 to Rs. 54 per share
PVC insulated tape, and PVC conduit pipe & acces- Lot Size : 277 Shares
sories, through third-party manufacturers. Total Issue Size : 13,200,158 shares
Plaza Wires Limited is coming out with an IPO. It (aggregating up to Rs. 71.28 Cr)
will issue 13,200,158 fresh equity shares through this Fresh Issue : 13,200,158 shares
IPO. Issue Price Band is Rs 51-54 per share. It will (aggregating up to Rs. 71.28 Cr)
raise Rs.71.28 crore through this issue. Issue will open Issue Type : Book Built Issue IPO
on 29th September, 2023 and will close on 4th Octo- Listing At : BSE, NSE
ber, 2023. Minimum lot size is 277 equity shares and Share holding pre issue : 30,551,920
for more shares you have to apply for that in multiply Share holding post issue : 43,752,078
Lead Manager : Pantomath Capital Advisors
of that. After share allotment, shares will be listed on
Registrar : Kfin Technologies Limited
NSE and BSE. Pantomath Capital Advisors Private
Limited is the Sole Book Running Lead Manager of
this issue and Kfin Technologies Limited is the Reg-
istrar to the issue. Cont..
Plaza Wires IPO Objects of the Issue
1. Funding the capital expendi-
Peer Comparison ture towards setting up a new
Company Name P/E (x) manufacturing unit for house
wires, fire-resistant wires &
Plaza Wires Limited 21.95 cables, aluminum cables, and
Finolex Cables Ltd 31.70 solar cables to expand the
Crompton Greaves 42.8 product portfolio.
KEI Industries 48.34 2. Funding the working capital
Polycab India Ltd 55.3 requirements of the com-
pany.
Havells India 78 3. General corporate purposes.
R R Kabel 85.21

In FY23, the company reported 1825 mn

revenue, CAGR for 2 yrs is 12.0%
revenue growth, Cash flow from
operations of Rs 86 Mn, ROCE of 15.6%
Financial Weekly TM

1st October 2023 to 7th October 2023 10

Plaza Wires Limited is coming out with an IPO.
It will issue 13,200,158 fresh equity shares
through this IPO. It will raise Rs.71.28 crore
through this issue. Price Band is Rs 51-54 per
share. Issue Opened on 29th September, 2023
and will close on 4th October, 2023
In FY23, the company reported 1825 mn revenue,
CAGR for 2 yrs is 12.0% revenue growth, Cash flow
from operations of Rs 86 Mn, ROCE of 15.6%. The
percentage of the aggregate value to our revenue from
operations for Fiscal 2023, 2022, and 2021 were
75.74%, 78.53%, and 81.21%, respectively. It man-
ages its sales and marketing activities through our reg-
istered office in Delhi, and branch offices and C& F
agent at various locations. The company had custom-
ers expanded to 31 states and states/union territories
based on March 31, 2023. As part of after-sales ser-
vice for electric fans, the company has tied up with
more than 20 service centers in Uttar Pradesh,
Uttarakhand, Jammu and Kashmir, Punjab, Haryana Plaza Wires’ Financial Details
and Tamil Nadu. In 2021, Plaza Wires expanded its Particular (Rs. in Cr.) 31-Mar-21 31-Mar-22 31-Mar-23
product portfolio by launching miniature circuit break- Assets 99.28 104.17 112.1
ers and distribution boards (DB) in the north and south Revenue 145.6 176.94 182.6
Indian regions.
Profit After Tax 4.24 5.95 7.51
As of March 31, 2023, the company has over 1249
Net Worth 39.48 45.52 53.08
authorized dealers and distributors, 3 branch offices in
Reserves and Surplus 35.66 14.96 22.53
Rajasthan, Uttarakhand, and Uttar Pradesh, 1 branch
office cum godown at Maharashtra, 4 warehouses in Total Borrowing 43.3 40.09 39.68
Uttar Pradesh, Assam, Kerala and Delhi, and C&F agent
in 1 state, viz. Punjab. Promoters of Plaza Wires Limited
Its Existing Manufacturing Unit is located at Baddi, Mr. Sanjay Gupta
Himachal Pradesh. It has an installed production ca- He is the Managing Director and one of the Pro-
pacity of 12,00,000 coils per annum. Over the years, it moters of the company.He holds a Bachelor of Com-
has made investments, from time to time, in its manu- merce from the University of Delhi. He possesses
facturing infrastructure to support product portfolio re- approximately 26 years of experience in electrical in-
quirements and reach. It has proposed to set-up Manu- dustry. He has been instrumental in planning and for-
facturing Unit with an additional installed capacity of mulating the overall business and commercial strat-
8,37,000 coils per annum and 8700 km per annum. With egy and developing business relations of the com-
this proposed Manufacturing Unit, it aims to expand pany. He oversees the entire planning of the manufacturing, sales and
finance departments.
manufacturing capabilities and increase installed capaci-
ties to manufacture new products such as fire proof/ Mrs. Sonia Gupta
survival wires, LT aluminium cable and solar cable in She is a Whole-time Director one of the Promoters
of the company. She holds a degree in Bachelor of Arts
addition to existing products such as PVC insulated
(Honours) from University of Delhi. She has approxi-
housing wires and cables. Current unit and registered mately 26 years of work experience in the electrical
office is accredited with ISO 9001:2015 (Quality Man- industry. She has been instrumental in planning and
agement System) and ISO 14001:2015 (Environment formulating the overall business and commercial strat-
Management System) certifications. According to Re- egy and managing the financial planning of the company.
surgent India Limited, the wires and cables industry in
India, in value terms, has grown at a compound annual growth rate (“CAGR”) of approximately 13.68% in the last five
years to reach Rs 788.00 billion in Fiscal 2021. Resurgent India Limited expects the wires and cables industry in India
to expand at a CAGR of approximately 14.50% in value terms to reach approximately Rs1550.00 billion by Fiscal 2026.
***
Financial Weekly TM

1st October 2023 to 7th October 2023 11

Rapid Fire Stocks

Kalpna J (Email- investwithkalpnaj@gmail.com)

Twitter : @Kj_TechTrades

Dhampur Sugar Mills (Rs. 305.00)

Targets of 375 to 490 in 3 to 12 months

Dhampur Sugar Mills is one of the leading integrated sugar-

cane processing companies in India. Their continuous and of-

ten pioneering efforts to harness the full potential of sugarcane

has enabled them to expand their portfolio beyond sugar to

Market Cap Rs. 1,927 Cr.
include renewable power, fuel ethanol, alcohol, extra neutral Current Price Rs. 290
High / Low Rs. 295 / 196
alcohol, alcohol based chemicals and bio fertilizer Stock P/E 12.2
Book Value Rs. 157
Company has been maintaining a healthy dividend payout Dividend Yield 2.07 %
ROCE 15.0 %
of 23.4 ROE 16.3 %
Face Value Rs. 10.0
Dhampur Sugar Mills Ltd. is engaged in the manufacture

and marketing of sugar, chemicals, ethanol, and co-generation of power. It operates through the

following segments: Sugar, Chemicals & Distillery, Power and Others. The Sugar segment is in-

volved in manufacture and sale of sugar and its byproducts. The Chemicals & Distillery segment

consists of manufacture and sale of RS, SDS, ENA, Ethanol, Ethyl Acetat, IMFL and sanitizer. The

Power segment includes co-generation and sale of power. The Others segment encompasses

sale of petrol and agricultural products. The company was founded by Lala Ram Narain in 1933

and is headquartered in New Delhi, India.

Financial Weekly TM

1st October 2023 to 7th October 2023 12

Zensar Technology (Rs. 517.00)

Targets of 655 to 750 , time frame 2-9 months ( Add in 2-3 parts)
Zensar Tech Standalone March 2023 Net Sales at Rs 477.00 crore, up 7.17% Y-o-Y Quarterly
Net Profit at Rs. 151.80 crore in March 2023 up 43.75% from Rs. 105.60 crore in March 2022.
EBITDA stands at Rs. 195.30 crore in March 2023 up 4.72% from Rs. 186.50 crore in March 2022.
Zensar is a leading digital solutions and technology services company that specializes in
partnering with global organizations across industries on their Digital Transformation journey.
A technology partner of choice, backed by a strong track record of innovation; credible invest-
ment in Digital solutions; and unwavering commitment to client success, Zensar’ s comprehensive
range of digital and technology services and solutions enables its clients achieve new thresholds
of business performance.
Zensar, with its experience in delivering excellence and superior client satisfaction through
myriad technology solutions, is uniquely positioned to help its clients surpass challenges they face
running their existing business most efficiently, helping in their legacy transformation, and plan-
ning for business expansion and growth through innovative and digital ways.
In a world of constant change, Zensar is committed to creating sustainable and lasting technol-
ogy solutions for today and tomorrow
Zensar is a leading technology solutions company with a strong engineering pedigree. Head-
quartered in Pune, India, we are part of the USD 4 billion RPG Enterprises Group, serving over 147
global clients. They have been a public-listed company for over 50 years, disrupting the status quo
through our deep engineering capabilities, innovation, and velocity.
Company's 11,500+ workforce across 30+ global locations delivers cutting-edge digital solu-
tions, unlocks growth, and empowers clients to thrive and succeed in a world of constant change.
High-growth companies draw on our expertise in engineering, experiences, and data, and this
unique trifecta is what differentiates Zensar from the crowd.

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

1st October 2023 to 7th October 2023 13

Smart Report Het Zaveri
- Ahmedabad

Genus PowerInfrastructures Ltd.

Genus Power Infrastructures Limitedis anB /T+1groupOther CMP Rs. 255
Electrical Equipmentcompany with having Face value of 52 - week high Rs. 289.70
Rs.1.Genus Power Infrastructures Limited is one of the largest 52 - week low Rs. 76
players in India's electricity metering solutions industry with27% Dividend yield % (consoli-
market share in Meter Industry and a 70% market share in Smart dated) 0.29%
ROE 2.95%
Meters and 70,000,000+ installed energy meters. It is market
BVPS (Rs.) 42.61
leader in various kinds of meters and has developed 'smart Sales (Rs.) 808cr.
metering solutions,'with its in-house R&D centre. It also has an Debt to Equity 0.35
engineering, construction, and contracts (ECC) division which P/E ratio 67.22
supplements the existing meters business. Company has manu- EPS (consolidated) 1.26
P/B ratio 1.99
facturing plants across Jaipur, Haridwar and Guwahati with a
Market Cap 6,568Cr.
total installed capacity of over 10 million meters. Company's Face value Rs.1
key customers include the major State electricity boards (SEB's)
and private utilities.As on March 31,
2023, the order book of the Company
stood at Rs.1,696 crore (net of taxes)
and including LOA received by wholly
ownedsubsidiaries, total order-book
stood at is Rs. 4,115 crores (net of
taxes) apart from that Several State
Electricity Boards (SEBs) have re-
quested and invited bidsfor the instal-

lation of smart meters, demonstrating the tangible impact of the 'Reforms-Based, Result-Linked
Power Distribution Sector Scheme'.In International marketsit executes orders to countries like
Nepal,Malaysia, Bangladesh, Sharjah, Central African Republic, Zanzibar, Nigeria, Thailand, Phil-
ippines, Singapore, Indonesia, Myanmar,Vietnam etc. and it is planning to enter countries like
Australia, Europe, and US.Its ECC solution includes the installation of transmissionlines, distribu-
tion lines, HVDS, and switchyards and substations up to220 KV under which country has already
achieved key milestones such as 100 kilometers of 132kV transmission line and 132kV sub-sta-
tion, One million plus BPL connections, Rural electrification of more than 10,000, 25,000 kilome-
ters LT lines, 9,000 kilometers of HT lines, More than 60 substations of different ratings upto 220kV,
10,000 kilometers HVDS project (Single phasing work) and 220 kV LILO Transmission Line and
220/132/33 kV Sub-stations. Apart from these company also offers Smart Gas Meters to domestic
consumers it is reportedly the first company in India to receive the BIS license for GasMeter and
company is working on new avenues to expand this vertical businessfield.
Cont...
Financial Weekly TM

1st October 2023 to 7th October 2023 14

Financial Results:
Company's Net Saleswas at Rs 261.11 crore in June 2023 up 39.6%, Quarterly Net Profit at Rs.
23.05 crore in June 2023 up 93.08% andEBITDA stands at Rs. 47.50 crore in June 2023 up 95.15%
ascompared to June 2022.Company's EPS has increased to Rs. 1.00 in June 2023 from Rs. 0.52
in June 2022.

Key Points:
Company's step-down wholly owned subsidiary hadreceived a LOA of Rs. 2,247.37 crore (net
of taxes) for appointment of Advanced MeteringInfrastructure Service Providers including design
of Advance Metering Infrastructure (AMI) systemwith supply, installation, and commissioning with
FMS of 24.18 Lakh Smart Prepaid Meters, system metersincluding OT Meters with corresponding
energy accounting under DBFOOT model.
Genus Power Infrastructures Limited's wholly owned subsidiary has received aLOA of Rs.
2,209.84 crore (net of tax) for appointment of Advanced Metering InfrastructureService Provider
(AMISP) including 21.77Lakhs Smart Prepaid Meters, on DBFOOT.
Company recently signed adefinitive agreement with Gem View Investment Pte Ltd, an affiliate
of GIC, Singapore)for setting up of a Platform for undertaking Advanced Metering Infrastructure
Service Providerconcessions in which GIC will hold 74% stake while Genus will hold 26% stake
with an initial capital outlayof (approx.) USD 2,000,000,000 (USD Two billion).
Company hasalso received a letter of award (LOA) of Rs.2,207.53 crore for appointment of Ad-
vanced Metering Infrastructure Service Provider including 27.69 Lakhs smart meters.
Genus Power Infrastructures Ltd. and its 100% subsidiary company (Hi-PrintMetering Solutions
Private Limited) have received LOA of Rs. 2,855.96 crore for appointmentof Advanced Metering
Infrastructure Service Provider (AMISP) including 29.49 Lakh smart meters.
Company has also received Rs. 325cr worth of ordersacross Exports geography and Domestic
geography.
It was the first company in Asia Pacific to achieve the milestone of supplying1.5M Smart Meters
to EESL (Energy Efficiency Services Ltd), bearing a testimony of the manufacturing capabilityof an
Indian company for such an advance meter amid global competition.
Company has also set up an Advanced Metering Infrastructure (AMI) lab at its Smart Grid Knowl-
edge Centre of Powergrid Corporation of India Limited (PGCIL) at Manesar,Gurgaon.
Company also won an order for supply, installation, shifting & commissioning of ~30,0003Q
meters, LT CT & HT meters with accessories including generation of first bill cycle & other inciden-
tal servicesat order value of Rs. 125 Crores.
It also bagged an order from Jharkhand Bijli Vitran Nigam Limited (JBVNL) forsupply, Installa-
tion, Commissioning, Data Collection, Report Generation and Annual Maintenance contract for5
years of 10,000 Distribution Transformer Meters with an inbuilt CT & Modem feature at the order
value of Rs. 54 Crores.
Company also won an order from EESL for supply of 13.5 lakh smart meters for the states of
Financial Weekly TM

1st October 2023 to 7th October 2023 15

Haryana and Uttar Pradesh.
Genus Power Infrastructures Ltd, has entered into an agreement with GlobalUtilities Manage-
ment Co, (GUMCO), Nigeria to assist them as a technical partner in the establishment of a
MeterAssembling & Testing unit. It has also signed an intent for order with GUMCO for supply of
Energy meters worth Rs. 20 Crores as perspecific requirement of local Discom.
In international markets, company is speeding up its efforts to be part of the smart meter rollout
inThailand, Philippines, Singapore (2'nd roll out), Indonesia, Myanmar,Vietnam and the other big-
ger utility (TNB) in Malaysia. It also continues to be a major player in the residential metering in
Nepalalong with a breakthrough in Bangladesh.
Company has also bagged a prestigious orderfrom an island in the Central Pacific Ocean which
is expected to beexecuted in 2023-24. It is also exploring to become an OEM manufacturer for
electricaland electronic goods for reputed US and European manufacturers.
In last3 Years the stock gave a return of 835.60% as compared to the rise of Sensex and Nifty in
the same period.
Smart meters would play a crucial role in India's ongoingjourney towards improving power sec-
tor efficiencyand Government of India ("GoI") has also announced an ambitious plan of implement-
ing the National Smart MeteringProject, under the Revamped Distribution Sector Scheme (RDSS),
with aplan to install 250 million meters by 2025 at an estimated investment ofUS$30 bnand com-
pany is well poised to enjoy large order inflows from this ambitious plan.Genus aims to provide
services and support in various upcoming revenue models - Capex/Opex/Totex and increase fo-
cus on ECC projects along with its grip in Smart Metering, Metering and Smart Gas Meters market.
Considering the surge in demand in Smart Metering industry across the globe and company's
wide spread presence in domestic as well as international markets, strong order book position,
GOI's ambitious plans for the industry and good financial positions of company, investors can in-
vest in this company for 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 purchases or sale of the securities mentioned in website. Author may have positions in
above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer: Investing in any equity is risky. Our recommendations are based on reliable & authenticated
sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Inves-
tors should take their own decisions. We assume no responsibility for any transactions undertaken by them.
The author won't be liable or responsible for any legal or financial losses made by anybody. Investors must take
advice from their financial advisors before investing in any stocks.)
Financial Weekly TM

1st October 2023 to 7th October 2023 16

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Financial Weekly TM

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Financial Weekly TM

1st October 2023 to 7th October 2023 18

Performance Report - Mid-term / Long-term

Co. Name Recomm. Target SL Time Frame Return Recomm. Target Day
Date
Parag Milk 95 121 79 2-12 weeks 27% 15/05/2023 23/06/2023 39
Rainbow Children 881 987 770 10-12 days 12% 16/05/2023 30/06/2023 45
LaOpala 379 420 365 2-4 weeks 11% 16/05/2023 07/06/2023 22
L&T Finance 99.5 106.5 88 6-8 weeks 7% 16/05/2023 02/06/2023 17
Teamlease 2280 2480 2250 2-4 weeks 9% 17/05/2023 16/06/2023 30
MEDANTA 575 601 550 2-4 weks 5% 23/05/2023 01/06/2023 9
IOC 89 93 77 4-6 weeks 4% 25/05/2023 14/06/2023 20
Indian Hotel 384 403 350 4-6 weeks 5% 25/05/2023 16/06/2023 22
BSE 573 602 548 2-4 weeks 5% 01/06/2023 22/06/2023 21
IRCTC 634 670 625 2-4 weeks 6% 01/06/2023 19/06/2023 18
Minda Corp 293 278 278 2-4 weeks -5% 02/06/2023 12/06/2023 10
Mankind pharma 1400 1650 1325 2-4 weeks 18% 05/06/2023 13/06/2023 8
MAZDOCK 920 1042 840 4-6 days 13% 05/06/2023 06/06/2023 1
Texrail 57 66.5 52 6 months 17% 06/06/2023 08/06/2023 2
Varroc 307 326 290 2-4 weeks 6% 07/06/2023 13/06/2023 6
Hudco 60 59 64 2-4 weeks -2% 07/06/2023 15/06/2023 8
SULA 446 480 420 4-6 weeks 8% 08/06/2023 09/06/2023 1
FMGOETZE 350 395 320 2-4 weeks 13% 09/06/2023 12/06/2023 3
POLYMED 1086 1284 913 4-6 weeks 18% 15/06/2023 21/06/2023 6
Axis Bank 935 984 911 4-16 weeks 5% 21/06/2023 28/06/2023 7
REDINGTON INDIA 194 210 185 4-6 weeks 8% 22/06/2023 30/06/2023 8
Average Return 9% Average Hold. 14.42

Performance Report - Futures

Co. Name Recomm. Target SL Time Frame Return Recomm. Target Day
Date

Stock Name Advise PriceTarget PriceStop Loss Holding Period%Return Advice date End date Days

ICICIBANK Future 871 881 858 4-5 days 1% 20/01/2023 23/01/2023 3

Bank Nifty 43220 42930 43540 2-4 days 1% 24/01/2023 24/01/2023 0

CANARA BANK 328 319 336 2-4 days 3% 24/01/2023 25/01/2023 1

JINDAL STEEL 603 592 614 2-4 days 1% 24/01/2023 25/01/2023 1

Average Return 1.2% Averge Hold. Period 1

Subscriber will receive recommendation through Telegram

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E : smartinvest25@gmail.com / www.smartinvestment.in

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Financial Weekly TM

1st October 2023 to 7th October 2023 19

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

Smart School Article 46

Split entries in a stock can help you fight volatility
If you are reading this article I presume that you have read other articles in our Smart School
Series of articles and by now you know the importance of doing proper research in stocks before
investing. You must have also learned that along with fundamentals, role of technical analysis is
also important in making your money work for you faster. Despite years of research by 1000s of
scholars for what we can call centuries, perfect prediction of market moves still remains as elusive
as finding diamond in a mine of coal. There is no perfect method. One suit does not fit all. You have
to charter your own path by learning from your own experiences and learning from experiences of
others.
One thing is for sure, even though you put your best foot forward and use the best of grey matter
in your brain cells all your stock selections are not going to work perfectly. Some of your predic-
tions, assessments, evaluations and assumptions are always going to go wrong. During such times
you cut your losses by keeping stop losses. When your stock pick is successful and the stock you
bought breaks out and starts going North, you first protect your capital and then your duty is to
protect your profit through trailing stop losses.

Cont...
Financial Weekly TM

1st October 2023 to 7th October 2023 20

Another method of keeping it safe and limiting losses are split entries in a stock. Suppose you
feel that stock of company X is going to grow from it's current market price and you with to invest
Rs. 15,000 in the company. Currently stock of this company PQR is trading at Rs.100. (Say 200
EMA of the stock is at Rs.75 and 50 EMA of the stock is at Rs.100 and All time high of this stock is
at 110).
Today the stock has given a closing above Rs.100 and you feel like it is a perfect break out. At
this juncture instead of going all in and investing all Rs.15000 you can split your capital in Three
Equal parts. (In this hypothetical case Rs.5000 each). You will invest Rs.5000 (X/3) at a closing
above 100. Suppose your Break out fails and stock falls to the level of 200 EMA which is at 75 in
few days, takes support there and bounces from this level you can take your second X/3 entry at
this juncture. (Not while it is falling but after it bounces post forming a bottom).
The Third SIP or the final entry can be after it crosses the All-time high resistance of 110). By
chance your stock pick was successful and the stock never dipped to 200 EMA level in this case
you can take final entry of Rs.10000 after the stock closes above 110 which was it's all time high
resistance. In this way you can split your capital and play safe in a volatile market.
We will take an example from current position of a stock in a chart and see how we can have a
spit capital entry in a stock. The purpose of explaining this is educational and for analysis only.
Please don't consider it stock recommendation of any kind.
Look at the below chart of Reliance Industries Ltd. Reliance has taken a support at 200 days
EMA in the below chart. If we have to take X/3 entry, we can take an entry on bounce after the stock
closes above mid-channel resistance. The Second X/3 entry can be taken after the stock closes
above 50 EMA which is after closing above 2423. Final entry after closing above 2482 as 2481
seems to be a strong resistance. Long term target for Reliance can be 2583 and 2600+. Stop loss
in the stock can be kept at a weekly closing below 200 EMA or 2252 depending on the risk taking
ability of the investor. In this way by splitting the capital you can play safe at the same time partici-
pate in the rally that you assume the stock will perform.
This method can be used during normal as well as volatile times. During volatile times it be-
comes very effective in keeping your average buying price below the current market price if you
know the art of splitting your capital and identifying the levels (Supports and resistances from where
you will take your multiple entries. The uses of chart and data and names off a companies are just
for the purpose of education and paper trading. Please don't consider it a call to buy or sell a
particular stock. We will learn more about making your money work harder for you in coming ar-
ticles of the Smart School.
- 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

1st October 2023 to 7th October 2023 21

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Financial Weekly TM

1st October 2023 to 7th October 2023 22

Equichain Wealth Advisors
Global Markets Nikunj Vithlani
nikunj200531@gmail.com

U.S. Government shutdown

A last minute deal in working to avoid shutdown
Last week we have discussed outcome on U.S. Fed meeting held on 20-Sep-23, where Fed
chair Jerome Powell indicated interest rate to remain higher for longer period. BOE keeps rate
unchanged at 5.25% almost after 2 years and will continue with QT. U.S. Bond yield continue to
move higher and this story continue in this week as well.
This week we will focus on how U.S. government is trying to make a deal as shutdown awaits.
We will also focus on Japan's 30-year bond yield which reaches at highest level since 2013. Crude
oil is currently trading near 12 months high. U.S. Core PCE price index sees cool-off @ 3.9% Vs
estimate of 3.9%.

U.S. Government - working to reach a deal to avert shutdown :- A late deal

to avert a US government shutdown beginning this weekend isn't likely - with House Speaker
Kevin McCarthy making big demands of President Joe Biden and bringing little leverage to the
clash.The Republican leader counts as one of his proudest achievements an agreement on long-
term spending cuts he extracted from Biden in last spring's showdown over a potential US debt
default and now he wants to use a shutdown to get more concessions.
Shutdowns don't carry the risk of immediate financial turmoil that an unprecedented US default
on government debt would have. The nation has weathered plenty of previous shutdowns and,
despite the disruption to public services and federal employees' pay, the economic damage is
initially mild and builds incrementally.

JGB 30-year bond yield @ 1.749% - highest since 2013 :- Japan's 30-year
government bonds dropped, sending the yield to the highest in a decade amid a selloff in global
debt. The yield rose one basis point to 1.73% as of 10:16 a.m. in Tokyo on Friday, a peak last seen
in 2013, and follows the 20-year yield reaching the highest since 2014 on Thursday.
Japanese bonds face pressure on many fronts, from inflation above the central bank's target to
elevated Treasury yields and expectations the Federal Reserve will keep borrowing costs higher
for longer.

Cont...
 Financial Weekly TM

1st October 2023 to 7th October 2023 23

Crude Oil on boil - WTI Crude oil @ $ 92 & Brent Crude oil @ $ 94 :- Crude
oil continues to remain at 12-months high as supply cut by OPEC+ nations could further squeeze
supply and increase in demand from China could trigger further rise in crude oil prices. High crude
oil prices are key reason for high inflation for last 18-months since Russia-Ukraine crisis started in
February 2022.
Inflation in U.S. and Europe is seeing sign of reversal and is again moving up, high crude oil
price will put pressure on global central banks as inflation still remain above the long target of 2%
of U.S. Fed, BOE & ECB.

Equichain Wealth Advisors: Market View & Opinion :- Market is showing

some sign of risk-off sentiment post U.S. Fed meeting outcome which hinted of interest rate to
remain higher for longer period of time. Japan's government bond with long term tenure is seen
rising above 2013 level which was known as taper tantrum.
In recent times we have market narrative is changing very fast. Recent change in narrative was
after U.S. Fed meeting outcome which indicated interest rate to remain higher for longer and now
bond yield which are near to 2007 level and JGB yield which are above 2013 high are surely not
giving comfortable indication.
We remain watchful as narrative is changing fast and going into earnings season for two-week's
time will provide further cues. As far as economic data is concern - there is no sign of softening and
corporate earnings continue to remain upbeat.
Equichain Wealth Advisors - SEBI registration number (RIA): INA000016472
Telegram channel: https://t.me/Equichain

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

Palm Jewels 16.00 Torrent Pharma 1928.00 Westlife 933.00
M&M Fin 301.00
Diligent Media 3.39 Sun Pharma 1159.00 Sakthi Sugar 32.00
LT Fin 133.00
Mufin Green 83.00 SBI 598.00 Kotak Mah. Bank 1735.00
Orient Bell 472.00
Odyssey Techno 67.00 Bhel 130.00 Balrampur Chini 437.00
GMDC 316.00
3i info 40.00 Apollo Hospital 5137.00 SBI Cards 790.00
Jai Balaji 439.00
Omaxe Ltd 75.00 Lupin 1171.00 Pidilite 2439.00
Bedmutha 119.00
Centex 16.00 Abbott India 23159.00 Delta Corp 142.00
Prince Pipe 697.00
Nalco 97.00 Glenmark 854.00 Easy Trip 40.00
AIIL 482.00
RBL Bank 252.00 Avadh Sugar 688.00
Williamson Magor 28.00 Gravita India 910.00
Vidli Restaurant 70.00 Aurobindo Pharma 914.00 Infosys 1435.00
Ahluwalia 703.00
Parshwanath Corp 31.00 DR Lalpath 2522.00 Navin Flourin 3766.00
Sobha 705.00
AnsalApi 15.00 Hero Moto 3056.00 Power Grid 199.00
Hindalco 493.00
Financial Weekly TM

1st October 2023 to 7th October 2023 24

Oneclick Logistics India
Comes out with an SME IPO: Click on it
One Click Logistics Limited operates an asset light business model and
Outsource its infrastructure requirements to third parties. Further, its inte-
grated service model provides greater business. opportunities from custom-
ers involving wide range of services, contributing to revenue and profitability
Corporate Feature
Objects of the Issue
1. Meeting incremental working capital requirements.
2. General corporate purposes.
One Click Logistics Limited is coming out with an SME
IPO. It will issue 10,00,800 fresh equity shares through this
IPO. Issue Price is Rs 99 per share. It will raise Rs.9.91
crore through this issue. Issue has open on 27th Septem-
ber, 2023 and will close on 3rd October, 2023. Minimum lot
size is 1200 equity shares and for more shares you have to
apply for that in multiply of that. After share allotment, shares
will be listed on NSE SME. Fedex Securities Private Lim-
ited is the Sole Book Running Lead Manager of this issue
and Bigshare Services Private Limited is the Registrar to
the issue.
Oneclick Logistics IPO Details
Oneclick Logistics India is an integrated logistics ser- IPO Opens-Closes : 27 Sep – 3 Oct 2023
vices and solutions provider. Its services can be broadly Issue Price : Rs 99 per share
categorized as i) non-vessel operating common carrier
(NVOCC); ii) ocean and air freight forwarding (Freight For-
Fresh issue : 10,00,800 shares
warding); iii) bulk cargo handling (Bulk Cargo); iv) custom Total Issue Size : Rs 9.91 crore
clearance, for which it has an arrangement with third par- Total IPO size : 10,00,800 shares
ties who have valid Custom House Agent’s License and v) Rs 9.91 crore
allied logistics and transportation services. Oneclick Logis-
Minimum bid (lot size) : 1,200 shares
tics India offers customers a single-window solution thereby
negating the need to approach multiple service providers Face Value : Rs 10 per share
at different levels in the chain of logistics services. The ser- Retail Allocation : 50%
vices include container handling, clearing and forwarding, Listing On : NSE SME
customs clearance, brake bulk handling, and brokerage, Lead Manager : Fedex Securities Pvt Ltd
recovery of all types of claims including customs and insur-
ance, warehousing, distribution and supply chain manage-
Registrar : Bigshare Services Pvt Ltd
ment, port and terminal operations, and container freight
station operations. The company’s clientele comes from Promoters of One Click Logistics Limited
India, China, Europe, Singapore and Malaysia. Cont...
Mahesh Liladhar Bhanushali
He is the Managing Director and Chairman on the
Major Events board of the company. He has completed the course
2017-18 Incorporation of a Limited Liability Partnership in
in post graduate diploma in foreign trade from the World
the name and style of “Oneclick Logistics LLP Trade Center Mumbai in 2009. He has been associ-
2019-20 Registered as a multimodal transport operator ated with the company since its incorporation and has
under multimodal transportation of Goods Act, over 5 years of experience in the logistics industry.
1993
2022-23 Received certificate of membership for Global
Rajan Shivram Mote
Affinity Alliance for successfully complying with
He is the Whole Time Director and Chief Financial
the conditions of membership
2022-23 Incorporated as a public company in the name Officer on the Board of the company. He holds a bach-
and style of “Oneclick Logistics India Limited” elor of arts degree in sociology and political science
2022-23 Acquisition of the running business of “Oneclick from the University of Mumbai. He has been associ-
Logistics LLP” through business transfer agree- ated with the company since its incorporation and has
ment with effect from February 10, 2023 over 5 years of experience in the logistics industry.
Financial Weekly TM

1st October 2023 to 7th October 2023 25

Oneclick Logis-
tics India’s clien-
tele comes from
India, China,
Europe,
Singapore
and Malaysia
One Click Logis-
tics Limited operates
an asset light busi-
n es s mo de l an d
outsource its infra-
s tr uc tu re r eq ui re -
ments to third parties.
Further, its integrated Air Freight Warehousing
service model pro-
vides greater busi- Shipments Worldwide • Warehousing
ness opportunities • Exports • Distributions
from customers in-
volving wide range of • Imports • Packing – Repacking
services, contributing • Third Country Shipments • Deliveries
to revenue and profit- • Switch AWB WAREHOUSING
ability. It also benefits
from its long-standing Sea Freight • Bhiwandi – Nhavasheva Locations
relationship with cus- Shipments Worldwide USP
tomers.
The company op- • Exports / Imports • Door Delivery Shipments
erates in all major • Third Country Shipments • Courier – Commercial Mode
ports in India as well • LCL – FCL • Any Part of the WORLD
as private ports such
• Switch Bill Of Lading • Any QUANTITIES
a s Nh av a S he va ,
Mundra, Delhi ICD, • Breakbulk • Only Commercial Shipments
Pipavav, Chennai, • Ro-Ro shipment
and ICD Ahmedabad.
The comp any has Custom Brokerage
provided services for • Sea / Air
627 customers. As of • Exports / Imports
31 March 2023, the
NVOCC, Freight For-
• LCL – FCL
wa rd in g (F CL ) • DGFT Consulting
Freight Forwarding • Certifications
(Air) and Bulk Cargo • Pre / Post Shipment Documentation
v er ti ca ls h an dl e
7 42 4 th r ou gh pu t • Project Cargo.

TEUs, 28481 cubic meters, 25 (brake bulk shipment), and 650 custom clear-
ances.
One Click Logistics offers services in India and its primary focus is to offer
these services to importers for importing goods from countries namely China,
Europe, Singapore and Malaysia where it has presence through agency part-
ners. Business arrangements with agency partners enable it to provide ser-
vices in jurisdictions where it does not operate directly. Its agency partnerships
also help in acquiring new business opportunities in India through agency part-
ners who do not have direct operations in India.

***
Oneclick Logistics India is an integrated logistics services and solutions provider
Financial Weekly TM

1st October 2023 to 7th October 2023 26

Chart Check
Your Stock Our Recommendation
PCBL:
Buy above 167 with sl of 155 target 180…200…225

JAIN IRRIGATION:
Buy above 65 with sl of 60 target 85…95…105
Financial Weekly TM

1st October 2023 to 7th October 2023 27

BEARDSELL LTD :
Buy at cmp with sl of 32 target 37…45…50

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
info@smartinvestment.in
Financial Weekly TM

1st October 2023 to 7th October 2023 28

Financial Weekly TM

1st October 2023 to 7th October 2023 29

SMART BANKING & FINANCIAL SERVICES
Tracking the pulse of Active & Passive Mutual Funds
By Vijaya Kittu M, https://vijaykittu.com
The author is a stock market trainer and helps investors realize their investment goals using ETFs and
Mutual Funds. He submitted his Ph.D. in Management (Finance) thesis on Mutual Funds.

INDUSIND BANK announced a multi-year partnership with the International Cricket Council (ICC) as
a global partner for the ICC Men's Cricket World Cup 2023 and future ICC Men's events. The bank will use the
opportunity to brand and get access to content that can help it connect better with its customers. The ICC Men's
Cricket World Cup 2023 startsonOctober 5. The final match isscheduled in Ahmedabad on November 19, 2023.
Meanwhile, the RBI has given its approval to Poonawalla Fincorp to issue co-branded credit cards with IndusInd
Bank. The co-branded card is likely to be launched in the next three months.

FEDERAL BANK was in the news after the RBI approved the International Finance Corporation (IFC)
to increase its stake to 9.70%. IFC currently holds a 1.34 percent stake in the bank. Only a week before, HDFC
AMC got approval from RBI to increase its stake to 9.5%.Federal Bank became the only bank to be featured in
India's Best Workplaces for Women 2023 (Large): Top 10 by Great Place to Work. The bank believes in gender
diversity, with a gender ratio of 41%. The bank is considering expansion as per the market requirements and is
slated to open 100 new branches in FY24.

KOTAK MAHINDRA BANK is activating all its branches to issue gold loans. Only 32 percent of its
branches (roughly 560 to 570 branches) are geared up to issue these loans. The bank's Loan Against Gold
Jewellery (LAGJ) portfolio grew 22% year-on-year.

HDFC BANK plans to open 1500 new branches in 2023-24 as a part of its planned branch network rise.
It was reported that the bank had to let go Rs. 1 trillion in corporate lending opportunity due to pricing issues.
Meanwhile, media reports say that the bank is making inquiries in the market and checking for the possibility of
issuing long-term infrastructure debt worth up to ?10,000 crore in the coming weeks.

BITCOIN (BTCUSDT) continued to make failed attempts and experienced stiff resistance to cross
the US$ 27,000 mark. The good news is that there is a golden crossover on technical charts for BTCUSD,
indicating a potential upside for the cryptocurrency. Meanwhile, the number of pending (unconfirmed) transactions
to be added to the Bitcoin block has recently been increasing.

Stock Market Online Training Program

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Live Online Zoom Sessions with Printed Study Material and hand-holding support
To Register, WhatsApp +91 98495 19188
Financial Weekly TM

1st October 2023 to 7th October 2023 30

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SMART
BUY OF THE WEEK
Dark Horse
Dark Horse-1

Smruthi Organics Ltd. BSE Code 540686

BSE Symbol SMRUTHIORG Rs.187.40 Face value Rs.10

On Friday 29th September good buying seen in pharma shares, focus on less known
dividend paying hidden gems Smruthi Organics. It paid 20% dividend for FY23. Smruthi
Organics is a quality API manufacturer over 30 years in the anti diabetic, anti hypertension &
anti infectives therapeutic categories both the Indian domestic as well as rest of the world
raw markets with clients spanning across Asia, Americas & Africa.

The company has 2 manufacturing facilities in Solapur & state of the art R&D at Hyderabad.
The company's research & development team is constantly working on developing new
processes & delivering new molecules for commercialization. The company constantly en-
deavors to go in to backward integration to lower costs & reduce dependency on external
supply chains. Company obtained approval from Korean FDA for the marketing of Telmisartan
in Korean market. The company has invested Rs. 947 lakhs towards capex & has developed
3 API products. Company's R&D has developed 7 critical intermediates. The company has
filed 11 Drug Master Files covering 5 products in 8 countries. Additionally company will be
actively involed in filing several DMF in Europe, Brazil, South Korea, & China during FY
2023-24. The company launched two new brands namely ENERLIN & SOLSITA.Due this in
Q1FY24 it's net profit shoot up by 663% to Rs.2.29 cr. against only Rs.30 lakhs in Q1FY23.

Investor can watch Smruthi Organics with a stop loss of Rs.159. It may
give very good returns in short to medium term.
Cont...
Financial Weekly TM

1st October 2023 to 7th October 2023 32

Dark Horse-2

Mafatlal Industries Ltd. BSE CODE 500264

BSE SYMBOL - MAFATIND Rs. 141 Face value Rs.2

Mafatlal Industries is a part of Arvind Mafatlal Group a 118 year old having interest in the
fields of textiles, rubber chemicals, IT, real estate, E-commerce & healthcare. Promoter hold
70.86%. SBI & Insurance companies hold 2.14%. HNIs M.B. Patel hold 1.51% & Bb Dattani
hold 1.35%. In Q1FY24it's revenue are up by 73% against Q4FY23 & PAT up by 134% to
Rs.27.48 cr. in Q1FY24 against Rs.11.76 cr. in Q4FY23. Company has very big reserves of
Rs.600 cr. against small equity of Rs.14 cr.

Company is holding Rs.600 cr. NOCIL shares minus this company available just at Rs.800
cr. having huge extra land bank. It's not yet recognized for its real estate, one can't forget
this 118 years old group are the largest textile mill owners in India having 6 mills.

Expanding Horizon : Going beyond traditional textile and diversifying product port-
folio by entering new sectors such as health & hygiene and digital infrastructure.

These strategic initiatives are aimed to optimize resource utilization, streamline

systems, and align with broader grwoth vision.

Investor can watch Mafatlal Industries with a stop loss of Rs.102. It

may give good returns in medium to long term.

Financial Weekly
Every Sunday Every Wednesday

English & Gujarati Edition Gujarati Edition

Financial Weekly TM

1st October 2023 to 7th October 2023 33

- Parag Salot
Technical Trading Trends (SEBI Registered Research Analyst)
M. : 91-9930011789

Nifty Overview : In Last Trading Session, Nifty closed at 19713. Nifty is consolidating
and there is no clear trend. Nifty is facing resistance at higher levels. Until Nifty does not go
above 20250, it will face selling pressure at higher levels. Nifty near support is at 19500
levels. Currently, Nifty looks sell at rise.
Bank Nifty Overview : In Last Trading Session, Bank Nifty close at 44865. Bank Nifty is
facing resistance at higher levels. Bank Nifty resistance is at 46000 levels while support is at
43900 levels. Similar to Nifty, even Bank Nifty is having selling pressure at higher levels.

Trading Results
Scrip Name BSE Code Buy / Enter at Did High/ Remarks
Sell Low
Bandhan Bank 541153 Buy 244 260 Target Achieved
Metropolis 542650 Buy 1410 1492 Target Achieved
Titan 500114 Sell 3350 3260 Target Achieved

Trading Buy
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
IEX 540750 132 122/127 135 145 116
Metropolis 542650 1470 1410/1425 1450 1490 1385
Wipro 507685 410 390/395 425 440 382

Trading Sell
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Escorts 500495 3207 3400/3450 3250 3100 3495
L&T 500510 3031 3090/3100 3030 2950 3125
REC 532955 293 310/315 295 275 327

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

1st October 2023 to 7th October 2023 34

Gujarat Toolroom (BSE Code : 513337) (CMP : 22.58)
Board Approves Expansion in UAE,
Company to Invest INR 500 Millionby
set up of Wholly Owned Subsidiary
Gujarat Toolroom Limited's (BSE: 513337)
recent announcement regarding its foray into Corporate Feature
Dubai's Precious market is a strategic move
is poised to have a profound impact on the
company's growth trajectory. The Board ap-
proved the company's foray into new market -
Dubai, UAE, in the sector of Precious Diamond,
Stones, Gold Dore bar and Jewellery, by set-
ting up a new wholly owned subsidiary com-
pany. The board further added that the Company will invest Rs 50.00 Crore (INR 500 Million) in two
trenches by way of WOS (Wholly Owned Subsidiary): Rs - 25.00 Cr by March - 2024 and Rs - 25.00
Cr by March - 2025.
At the heart of this announcement lies Gujarat Toolroom's ambitious expansion plan, focusing on
Precious Diamonds, Stones, Gold Dore bars, and Jewelry. The establishment of a wholly-owned sub-
sidiary company underscores the company's commitment to diversification and market exploration.
With a vision that extends beyond borders, Gujarat Toolroom is set to unlock new avenues of growth
and profitability. By entering Dubai's Precious market, Gujarat Toolroom is poised to tap into an indus-
try known for its global appeal and high demand. The establishment of a wholly-owned subsidiary
company reflects the company's commitment to making a significant impact in this sector.
Gujarat Toolroom's revenue and profit have witnessed impressive growth in recent years. With this
expansion, the company expects these figures to rise significantly. The allocation of Rs 500 Million as
investment capital demonstrates a long-term commitment to establishing a strong presence in Dubai's
Precious market. The allocation of Rs 500 Million as investment capital, divided into two trenches,
demonstrates Gujarat Toolroom's long-term commitment to this venture. The phased investment ap-
proach ensures that the company has the resources required to establish a solid foundation in Dubai's
Precious market.
This move aligns with Gujarat Toolroom's strategic diversification strategy. It positions the com-
pany to mitigate risks associated with single-market dependence and offers a new avenue for revenue
growth. The company's strategic vision and readiness to explore new markets have instilled confi-
dence in its future prospects. The Dubai expansion represents a significant step in diversifying Gujarat
Toolroom's operations, potentially reducing vulnerability to market fluctuations.
Gujarat Toolroom's decision aligns with a strategic diversification strategy that mitigates risks as-
sociated with single-market dependence. This diversification is expected to enhance the company's
resilience in the face of market fluctuations.
As the company ventures into Dubai's Precious stones market, it positions itself for success and
underscores its commitment to delivering value to shareholders.Gujarat Toolroom Limited's recent
announcement is a catalyst for future growth and diversification. With the company's proven commit-
ment to precision and quality, this expansion holds the promise of becoming a transformative chapter
forthe company.
***
Financial Weekly TM

1st October 2023 to 7th October 2023 35

TECHNICAL TALK
Dhananjay Kadam - TECHNICAL ANALYST

Corrections are Temporary, Growth is Permanent

NIFTY (19638.00) :- 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 a downward movement at the same time all global markets started a downward
movement. NIFTY dropped down by 3%+ last week.
Today Nifty closed with a good bullish candle. Today it closed with an upside of 0.59%.Now
nifty near to support of 19500. On daily chart Nifty made BULLISH HARAMI which is indicating
Nifty can go upside but as per global market views Nifty can move any side from this stage if nifty
will close below 19500 then next support will be 19300. If it starts upside from tomorrow then again
it will go towards 20000.
Next upside rally will come in Realty , chemical and power sector and PSU companies, so, find
out stocks to trade from these sectors.

Cont...
Financial Weekly TM

1st October 2023 to 7th October 2023 36

BANKNIFTY (44584) :- BANKNIFTY started a downside rally from 46310 took
support near 43570 which was past support after that it made good consolidation. After made low
of 43570 it started upside but not shown straight in upside it was trading in sideways zone after that

it made good BREAKOUT

above consolidation and
started upside to make new
lifetime high BANKNIFTY
reached near all time high
but BANKNIFTY not
crossed old lifetime high
and it started downside rally
from 46310 today it closed
at 44584 next support is
44200. If it will close below this price then more downside possible otherwise it can start upside
move again

Garware Hi-tech Films Limited (1462.00) :- Garware hitech

films limited is engaged in the manufacturing and supplying of tensile polyester films it manufac-
tures a range of products including biaxially Oriental polythene terephthalate polyester film, Sun
control films, thermal lamination films and speciality polyester films and also manufacturers pre-

mium grade, heat rejection

films it's businesses in-
clude paint protection film,
automotive films, architec-
ture films and polyester
films all products are avail-
able in different states and
various levels of light trans-
mission it is catering to
packaging yarn coated
films for facility applications and take films for insulation and shrink level application. It has ap-
proximately for manufacturing plants promoter holdings are 60.72% mutual fund holdings are 2.2%
and 36.81% retail and other holdings companies giving good division to their shareholders. Rev-
enue of the company is increasing.
On the daily price chart stock made a good bullish price pattern that is a bullish flag as per this
price pattern target of this stock price will be 1684. We can buy this stock between 1450--1470 for
21 days with daily closing basis stop loss of 1395
Financial Weekly TM

1st October 2023 to 7th October 2023 37

BETWEEN THE LINES
RAVI B GUPTA (SEBI REGISTERD RESEARCH ANALYST)
111GUPTARAVI@GMAIL.COM

From last week's recommendation 4 out of 4 are able to provide profit.

After considering various observations there are some options and stocks which
may provide benefiting with good risk reward. Do work with stop loss method, if SL
has not been provided then trade with your own risk rewarding method.
Please note that levels may affect on any global uncertain event on which technical charts
are subject matter of re-study.

NIFTY : Nifty is in consolidation mode on lower side in last 2 3 days and if it stays below
19620 then we may see some selling pressure and targets are 19550 19470 amd 19350 in
one week. If it starts bullishness then buy above 19730 for target of 19800 19890 in short
term.

BANKNIFTY : Banking Index can show some bearishness below 44500 for targets of
44260 44100 and 43800. If this moves up above 44900 then targets are 45200 and 45480 in
one week. More chances of consolidation are there for one week. Maintain 150 Rs stop loss
on both side.

RELIANCE : After falling for one week, this stock remains in down to sideways mode
from last 2 days. Below 2330 this may fall for 2310 2290 and 2270. If this manages to stay
above 2360 then we can see 2375 2390 and 2415 levels in one week. Keep stop loss of 15
points on both sides for trading.

SBIN : PSU banks stocks show some bounce on Friday's session. But view is still intact
for sell on rise for these banks. Any price around 608 or 610 is selling level for this stock with
614 rs stop loss. Targets could be 604 600 595 588 and 582 in one week.

TATASTEEL : Tata Steel is in our watch list since last three weeks and it manages to
remain in 6 to 7 Rs territory during this period. Below 126 it can touch 125 124.15 and 123.
Whereas if it goes above 133 on closing basis, then it can show 134 136 and 137.50 prices in
3 to 4 days. Maintain 1.5% stop loss on both sides.
Financial Weekly TM

1st October 2023 to 7th October 2023 38

Apollo Micro Systems Ltd CMP Rs. 56.7 ; BSE: 540879 NSE : APOLLO
Apollo Micro Systems Ltd. Enters in to Significant Agreements with DRDO
Telangana: Apollo Micro Systems Ltd. (BSE: 540879,
NSE: APOLLO), a pioneer in design, development, assem-
Corporate SCAN
bly and testing of Ruggedized Custom Built Electronic Hard-
ware & Software solutions for Mission Critical applications,
has announced that it has entered into significant agreements
with the Defence Research and Development Organisation
(DRDO). These agreements represent substantial advance-
ments in its business operations and demonstrate the
company’s unwavering commitment to strengthening its col-
laboration with DRDO.
The details of the agreements are as follows:
Transfer of Technology (ToT) Agreement for Guidance
and Navigation Technology: This agreement pertains to sig-
nificant technology which has immense potential in both
domestic and international markets. The technology is used
to convert conventional non guided weapons to Guided
Weapon. The company has been working closely with DRDO
on this technology and has now been selected as a ToT
Partner through a Licensing Agreement for Transfer of Tech-
nology.
ToT Agreement for Weaponisation of Hand-Held Thermal
Imager with LRF (WHHTI) : This cutting-edge technology
involves the weaponization of a Hand-Held Thermal Imager with Laser Range Finder (LRF). WHHTI is state of art
weaponization platform featuring an Electro-Optical System which not only meets the requirement of monitoring of
border area/ sensitive area but also intends to provide remotely operated counter measure to neutralize the threat under
all conditions. The system has capability of surveillance and engagement of potential threats remotely. Its technical
features are enhancement of existing HHTI's role, observation & engagement with soldier in protected location & Soldier
stays in controlled environment increasing the operational efficiency. The system eliminates the need of two soldiers to
carry out surveillance and threat neutralizing activities thus reducing the chances of miscommunication or human error.
ToT Agreement for Rotary Electro Mechanical Actuator: This agreement represents the Company's collaboration
with DRDO in developing Linear and Rotary Electro Mechanical Actuators for various capacities. The Company has now
been selected as a ToT Partner through a Licensing Agreement for the Transfer of Technology.
ToT Agreement for Unified Avionics Computer: The Unified Avionics Computer is a complex On-Board subsystem
which plays a critical role in the Weapon and has all control guidance and navigational algorithms. The company has
been working closely with DRDO on this technology and it has now been selected as a ToT Partner through a Licensing
Agreement for Transfer of Technology.
The company further added, “These agreements mark a significant milestone in our ongoing partnership with DRDO
and signify our commitment to excellence in technology and innovation in defense-related projects.”
About Apollo Micro Systems Ltd.
Apollo Micro Systems (AMS), established in 1985, is a pioneer in Design, Development and assembly of Custom
Built Electronics and Electro-mechanical solutions. AMS offer solutions based on state-of-the-art technologies for Aero-
space, Defense & Space as primary customers and also caters solutions for Railways, Automotive and Home Land
Security markets. Its wide spectrum of technological solutions and end to end design, assembly & testing capabilities
gives it an edge over the competition. The company offers End-to-End Design, assembly and testing services. It has a

pool of engineers who demonstrate their design, engi-

neering capabilities and offer Product Life Cycle Sup-
port. Its Engineering Services team offers Build to
Specifications(BTS) and Build to Print Services(BTP).
The company’s vision is “To emerge as a world-class
company and a unique solution provider with “Total
Solutions Under One Roof“.”
***
Financial Weekly TM

1st October 2023 to 7th October 2023 39

Terrific Shots - Dilip K. Shah

Finolex Cables (Rs. 1120.00) (Code: 500144) :- Finolex Cables is a strong brand
in the cable business. The company has manufacturing plants in Pune, Goa and Uttarakhand. The
A group listed shares have a face value of Rs. 2. The shares touched a 52-week high of Rs. 1219
and a low of Rs. 446. Its equity is Rs. 30.59 crore and its reserves are Rs. 4339 crore. Promoter
holding is 35.92% and public shareholding is 64.08%. The company’s sales in the June quarter
went up from Rs. 1187 crore to Rs. 1224 crore, while profit fell from Rs. 224 crore to Rs. 175 crore.
EPS was Rs. 8.65. The company’s market cap is Rs. 18,444 crore. DIIs and FIIs own 15.57% and
11.25% stake respectively. The company is known for paying generous dividends. Its RoCE is
15.6% and RoE is 12.2%.

Tata Investment (Rs. 3272.00) (Code: 501301) :- Tata Investment Corporation is

an NBFC of the Tata Group and a part of the BSE 500 Index. Its shares are listed in the A group and
have face value of Rs. 10. The shares touched a 52-week high of Rs. 3522 and low of Rs. 1735.
The company’s market cap is Rs. 16,556 crore. Promoter holding is 73.58%, FII holding is 1.15%
and DIIs hold 0.92%. Its equity is Rs. 51 crore and its reserves are Rs. 19,521 crore. The share’s
book value is Rs. 3886, which is higher than the current price. For FY 2023, its income increased
from Rs. 254 crore to Rs. 277 crore and profit from Rs. 214 crore to Rs. 252 crore. For the June
quarter, income rose from Rs. 102 crore to Rs. 152 crore and profit from Rs. 90 crore to Rs. 148
crore. EPS was Rs. 29.02. The company has significant investments. The stock is quoting at a
price-to-book ratio of less than one, which suggests it is undervalued. The stock can be a good
pick on declines.

Jupiter Wagons (Rs. 327.00) (Code: 533272) :- Strong moves have been seen in
the stock. The company has achieved a dramatic transformation in the last year. The B group listed
shares have a face value of Rs. 10. The shares touched a 52-week high of Rs. 412.50 and low of
Rs. 67.30. The company’s market cap is Rs. 13,085 crore. Promoter holding is 72.36%, while DIIs
hold 2.26%. Its equity is Rs. 387 crore and reserves are Rs. 416 crore. For the June quarter, its
income went up from Rs. 295 crore to Rs. 753 crore, operating profit from Rs. 30 crore to Rs. 97
crore, and net profit from Rs. 13 crore to Rs. 63 crore. The company is engaged in manufacturing
wagons and has received significant orders. Its order book stands at Rs. 6,12,230 lakh and grow-
ing. Some profit booking has been seen in the stock. Declines can be treated as buying opportuni-
ties.

The Ramco Cement (Rs. 909.00) (Code: 500260) :- Known as Madras Cement
earlier, The Ramco Cement is a prominent cement company in south India. The company’s equity
is Rs. 23.56 crore and its reserves are Rs. 6837 crore. The company reported income of Rs. 2247
crore, profit of Rs. 74, and EPS of Rs. 3.15 in the June quarter. Income was Rs.8157 crore and
profit was Rs. 315 crore in the previous fiscal. The A group listed shares touched a 52-week high of
Rs. 953 and low of Rs. 635. It has a market cap of Rs. 21,539 crore. Considering the government’s
focus on infrastructure and rising cement demand, the stock is a good pick for the long term. Pro-
moter holding is 42.29%. FIIs and DIIs hold 7.55% and 32.46% shares respectively. The decline in
raw material prices and a likely hike in prices will boost its margin.

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

1st October 2023 to 7th October 2023 40

BUY.... BUY....BUY TIPS OF THE WEEK
Co. Name Code Price Co. Name Code Price
NBCC 534309 58.00 HG Infra 541019 942.00
ITI Ltd 500875 444.00 Eris Life 540596 877.00
Vedanta 500295 222.00 Godrej Pro 533150 1554.00
IFCI 500106 24.00 Balkrihsna Ind 502355 2556.00
Advani Hotel 523269 89.00 Dixon Techno 540699 5287.00
Edelweiss 532922 61.00 Gensol Engi 542851 2017.00
Jet Airways 532617 55.00 DCM Shriram 523367 1088.00
GVK Power 532708 12.00 Finolex Cable 500144 1120.00
Sterling Wilson 542760 361.00 Eicher Motors 505200 3456.00
Granules India 532482 354.00 3m India 523395 31905.00
DP Wires 543962 710.00 ICICI Lombard 540716 1308.00
Quick Heal 539678 289.00 Tata Comm 500483 1930.00
UNO Minda 532539 599.00 CE Info 543425 1993.00
Ashoka Buildcon 533271 122.00 Dalmia Bharat 542216 2405.00
HOEC 500186 172.00 Ultratech Cement 532538 8257.00
Orient Cement 535754 178.00 Polycab 542652 5338.00
GE Shiping 500620 846.0 Shriram Fin 511218 1920.00

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
Financial Weekly TM

1st October 2023 to 7th October 2023 41

Sarvesh Ashok Trivedi
Stock Wave (Mumbai) (Mob) 09820728124
www.chartsanketstock.com
Important resisting level of
Index at 66500 and Nifty Future at 19850
BSE Index (65828.41) :- It shows a downward trend from the top of 67927.23. It shows an
oversold position on a daily basis, an overbought to neutral on a weekly basis, and an overbought position
on a monthly basis. On the upward movement, beyond 66151 it may go up to 66325 and leave bearish trend
beyond 66500. It may go further up to 66725, 66930, 67130, 67350, 67530 and 67800. On the downward
movement, below 65423 it may go down to 65000.
Bank Nifty Future (44847.95) :- It shows a downward trend from the bottom of 46375.90. It
shows an oversold position on a daily basis, an overbought to neutral on a weekly basis, and an overbought
position on a monthly basis. Leave behind the bearish outlook once it crosses 45140 level. It may go up
45400, 45570, 45730, 45900 and 46000. On the downward movement, below 44149 it may go down to
43785.
Nifty Future (19709.00) :- It shows a downward trend from the top of 20270. It shows an
oversold position on a daily basis, an overbought to neutral on a weekly basis, and an overbought position
on a monthly basis. Beyond 19810, don't have bearish outlook once it crosses 19850 level. It may go futerh
up to 19850, 19875, 19950, 20,000 and 20075. On the downward movement, below 19638 it may go down
to 19550, 19501, 19480 and 19410.
BATA (1608.40) :- It shows a downward movement from the top of 20270. It shows an oversold
position on a daily basis, an overbought to neutral on a weekly basis, and an overbought position on a
monthly basis. On the upward movement, beyond 1627 it may go up to 1647. On the downward movement,
below 1585 it may go down to 1570, 1545, 1523, and 1495.
CIPLA (1186.15) :- It shows a downward movement from the top of 1277.15. It shows an oversold
position on a daily and weekly basis, while an overbought position on a monthly basis. On the upward
movement, 1206 could be a resisting level. On the downward movement, below 1158 it may go down to
1140 and 1115.
HDFC Life (637.40) :- It shows a downward movement from the top of 677.55. It shows an
oversold position on a daily basis, an overbought to a neutral on a weekly basis and an overbought position
on a daily basis. On the upward movement, resisting level could be at 651. On the downward movement,
below 630 it may go down to 616, 603 and 588.
JSW Steel (779.60) :- It shows a downward trend from the top of 840. It shows an oversold
position on a daily and weekly basis, while an oversold position on a monthly basis. On the upward move-
ment, resisting level could be at 794. On the downward movement, below 755 it may go down to 755, 731,
and 720.

Disclosure : The Recommendations are based on technical analysis. There is a risk of loss in trading.

: Golden quotes :
We are twice armed if we fight with faith
 Financial Weekly TM

1st October 2023 to 7th October 2023 42

ShreeOswal Seeds and Chemicals (NSE) (Rs. 70.50)
Forays into selling of Vegetable Seeds
The company has expanded its product portfolio offerings to selling of
vegetable seeds like Coriander, Fenugreek, Peas, Spinach and Okra seeds

Range of Products Corporate

The Company offers an extensive range of premium seeds. The com-
prehensive catalog showcases meticulously bred and tested varieties that Feature
are tailored to suit various agro-climatic conditions, helping farmers opti-
mize their yields and minimize risks. Each seed undergoes rigorous quality
control measures to ensure its viability, purity, and disease resistance. ShreeOswal Seeds and Chemicals Ltd. is a pioneer-
ing Indian company with a rich legacy in the seeds manu-
facturing and exporting industry. Established in 2002, the
company has grown to be the market leader in producing,
processing and selling various high-quality agricultural
seeds of Wheat, Mustard, Soybean, Black gram, Isabgol
and Maize. At Shree Oswal Seeds, our mission is to revo-
lutionize global agriculture by providing superior quality
seeds that ensure bountiful harvests, promote sustain-
able farming practices, and contribute to food security
worldwide.
Last week, in a major development, the company has
announced that is now expanding its product portfolio of-
ferings to selling of vegetable seeds like Coriander,
Fenugreek, Peas, Spinach and Okra seeds aimed at fur-
ther diversifying its product portfolio and meeting the grow-
ing demand in domestic as well as international market. It
will increase its revenue significantly.
ShreeOswal Seeds is backed with a state-of-the-art
infrastructural set-up which is equipped with modern and
best-in-class machines. Further, the warehouse unit is well-
built and has enough space to store goods according to
industrial specifications. The ultra-modern quality control
system which is well-equipped with modern testing tools
Promoters of ShreOswal Seeds & Chemical and machines ensures that they deliver the highest qual-
Sanjay Kumar Baigani ity goods each and every time.
Promoter, Chairman and MD The company is well reckoned in the world market as
As one of the promoters of Shree Oswal Seeds,
Sanjay Kumar Baigani has played a pivotal role in the
one of the established manufacturers, suppliers and ex-
company's growth and success. Baigani has led the porters of Psyllium Seed Husk (Isabgol). Isabgol is known
company's expansion plans and strategic decisions with for its organic and herbal nature. Its clients have approved
his visionary leadership and business savvy, making the these products for its ability to cure heart disease, colon
business as a key player in the agriculture industry. His focus on forging function, weight, diabetes-blood glucose, diverticulitis and
close ties with stakeholders, including as farmers and distributors, has also divertculitis. With 97% purity, these product has gained a
strengthened the company's network and increased customer loyalty.
high demand among the clients. Psyllium Seed Husk is
Anil Kumar Nahata delivered to the clients in a committed time frame owing to
Promoter and CEO
Anil Kumar Nahata, has contributed significant
its vast delivery system.
knowledge and experience to the company. His in-depth ShreeOswal Seeds and Chemicals Limited is a Listed
knowledge of market dynamics and the agricultural land- company. Its share was first listed in 2018 on NSE SME
scape has been crucial in advancing the company's Board. Reporting strong fundamentals and financials and
market presence and competitiveness. His dedication following strict regulations, it was migrated to Main Board
to sustainability and innovation has resulted in the creation of premium
this year itself. The stock is trading at around Rs.70. Its
seeds and cutting-edge agricultural technology that are advantageous to
farmers and the sector at large. 52-week high is Rs.85.07 and 52-week low is Rs.54.

***
Financial Weekly TM

1st October 2023 to 7th October 2023 43

Dilip Davda
e-mail Expert’s Eye
dilip_davda@rediffmail.com

Thursday Thunder keeps the week in the red

See-Saw mode seen amidst derivatives expiry
(Concluded week report):
The week under-report with a derivatives expiry with shifted bank holiday marked a see-saw
week. It marked Thunder Thursday amidst expiry and surprisingly marked the week's high and low
on the same day. While global uncertainties continued, mixed signals on forex and crude oil moves
kept world markets on their toes. Though other markets turned hugely negative, our markets marked
consolidation with poor sentiment and FIIs continued their selling spree for the whole of the week.
For the week, the Opening, Mid, and Final sessions of the week turned green while the remaining
two sessions were in red.
For the week, while the BSE Sensex moved in the range of 66406.01-65423.39, the NSE Nifty
hovered between 19766.65-19492.10.
In a see-saw moves week, BSE Sensex marked a net weekly LOSSof -180.74 points and NSE
Nifty reported a net weekly LOSS of - 35.95 points.
Weekly Movements of benchmarks:
Monday-After a cautious positive opening for the first session of the market, benchmarks moved
both ways before closing flat but in green. BSE Sensex gained just 14.54 points to close at 66023.69
and NSE Nifty scored a mere 0.30 points to end the day at 19674.55. While world markets turned
cautious amidst negative reports from China and Germany. We felt tremors with selling on the IT
and Capital Goods counter, however, fresh buying support for Banking and Consumer Durables

BONUS ANNOUNCEMENT helped the market to curtail losses. Though the Mid and Small cap out-
D P Wires (1 for 7)
performed benchmarks, market breadth turned marginally negative due
BONUS MEET
Avantel Ltd. on 09.10.23 to dull trades in the side counters. FIIs were the net sellers and DIIs were
the net buyers for the day.
EX - RIGHTS
Syschem (India). Tuesday- For the second session, we marked a cautious positive open-
RIGHTS ISSUE ing, and with range-bound trades, it finally ended in the red on profit
Vinny Overseas (1 for 1) bookings.BSE Sensex lost 78.22 points to end the day at 65945.47 and
EX-SPLIT NSE Nifty marked a deficit of just 9.85 points to close at 19664.70. World
IEL Ltd. (10 for 1), markets turned negative as the yield on bonds from Germany and the
Shradha Ind. (2 for 1),
HAL (2 for 1) U.S. posted peak levels of the last decade-plus period. While Capital
Cont...
Financial Weekly TM

1st October 2023 to 7th October 2023 44

Goods, FMCG, and Auto counters marked gains, IT and Banking counters dragged down indices.
Select side market counters gained on informed buying. However, SME counters met with blood
bath on reports of SEBI planning clamp on their recent moves that raised alarm. For the second
session in a row, while Mid and Small-cap outperformed benchmarks, market breadth turned mar-
ginally negative due to dull trades in the side counters. FIIs were the net sellers and DIIs were the
net buyers for the day.
Wednesday-Mid-week marked a negative opening and after moving both ways, it closed in
green with some gains. BSE Sensex scored 173.22 points to close at 66118.69 and NSE Nifty
gained just 51.75 points to end the day at 19716.45. Amidst global meltdown reports we also
marked sliding trends, but post noon, markets recovered from the low of the day to close in green.
Reliance Industries lead the rally and got support from Auto, FMCG, and Capital Goods counters.
Market breadth turned marginally positive as Mid and Small-cap indices outperformed benchmarks
and got support from the fancy side counters. FIIs remained net sellers and DIIs continued to be net
buyers for the day.
Thursday - For derivatives expiry day, markets opened in a positive mood, but with a sudden
selling spree in the final hour, it lost heavily. BSE Sensex marked a deficit of 610.37 points to end
the day at 65508.32, and NSE Nifty lost 192.90 points to close at 19523.55. Surprisingly, bench-
Cont...

Nifty & Sensex Movement during the week

Sensex Open High Low Close Diff
25-09-2023 66,082.99 66,225.63 65,764.03 66,023.69 14.54
26-09-2023 66,071.63 66,078.26 65,865.63 65,945.47 -78.22
27-09-2023 65,925.64 66,172.27 65,549.96 66,118.69 173.22
28-09-2023 66,406.01 66,406.01 65,423.39 65,508.32 -610.37
29-09-2023 65,743.93 66,151.65 65,570.38 65,828.41 320.09
Net Weekly Loss -180.74
NSE - Nifty Open High Low Close Diff
25-Sep-23 19,678.20 19,734.15 19,601.55 19,674.55 0.30
26-Sep-23 19,682.80 19,699.35 19,637.45 19,664.70 -9.85
27-Sep-23 19,637.05 19,730.70 19,554.00 19,716.45 51.75
28-Sep-23 19,761.80 19,766.65 19,492.10 19,523.55 -192.90
29-Sep-23 19,581.20 19,726.25 19,551.05 19,638.30 114.75
Net Weekly Loss -35.95
Financial Weekly TM

1st October 2023 to 7th October 2023 45

marks marked the high and low of the week on the same day. Marketmen were expecting correc-
tions in overheated markets and perhaps that happened on the derivatives expiry day as both
benchmarks lost heavily. We market profit bookings across the counters and according to punters,
markets mirrored surges in crude oil prices, forex, poor global sentiment, and derivatives expiry for
domestic markets. Mid-cap index underperformed but the small-cap index outperformed bench-
marks, however, market breadth remained negative with a selling spree on fancy side counters.
FIIs continued to be the net sellers and DIIs were the net buyers for the day.
Friday - Markets opened on a positive note for the last session after a massacre for the previous
session amidst confusing signals and finally ended the day in green. BSE Sensex scored 320.09
points to close at 65828.41 and NSE Nifty gained 114.75 points to end the day at 19638.30. Hindalco,
NTPC, Sun Pharma, Tata Steel, SBI, JSW Steel, Dr Reddy, HeroMoto, Tata Motors, etc. were the
leaders for gainers, Adani Enterprise, LTIM, Asian Paints, M & M, TCS, Infosys, HCL Tech, and
Nestle were the leaders for laggards. Closing above 65.8K and 19.6K by Sensex and Nifty respec-
tively gave a sigh of relief to bulls. Mid and Small-cap indices outperformed benchmarks and side
counters surged, which kept the market breadth positive. FIIs and DIIs continued to be the net
sellers and net buyers respectively.
The week ahead :- Brent crude kept boiling and marked 96.05$ a barrel by the weekend.The
Rupee remained range-bound to mark Rs. 83.05 a dollar by the weekend. Market men have on
radar global micro economic data, monsoon progress, RBI monetary policy outcome, and auto and
cement sector dispatches for the month of September 23. Now that the H1 number season is around
the corner, the market will turn stock-specific as usual. As the ensuing week has four sessions, it
will mark volatile trades. All markets will remain closed on 02.10.23 on account of "Gandhi Jayanti".
Amidst such a scenario, BSE Sensex may move in the range of 67750-64500, and NSE Nifty
between 20100-18900.
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 un-
der no circumstances should be used for making investment decisions. Readers must con-
sult a qualified financial advisor before making any actual investment decisions, based on
the information published here. Any reader taking decisions based on any information pub-
lished here does so entirely at its own risk. Investors should bear in mind that any invest-
ment in stock markets is subject to unpredictable market-related risks. The above informa-
tion is based on RHP and other documents available as of date coupled with market percep-
tion. The author has no plans to invest in this offer.
(SEBI registered Research Analyst-Mumbai).
Financial Weekly TM

1st October 2023 to 7th October 2023 46

Chart Check
Your Stock Our Recommendation
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Financial Weekly TM

1st October 2023 to 7th October 2023 47

Dr. A. K. Asnani
(M) 9893512098
Smart Verc (Bhopal)
Author of Book
Way to Billionaire

Single year of under performance

can ruin your returns terribly
Understanding the intricate ways in which varying returns can impact your wealth is often a
complex endeavor when navigating the world of investments.
Let's delve into two hypothetical scenarios to shed light on this matter:
Scenario 1:
In the first scenario, we have Investor A and Investor B. Investor A initiates their investment
journey by placing Rs 10 lakhs into an Index ETF. Over the course of a decade, the Index exhibits
a robust 15% Compound Annual Growth Rate (CAGR). Consequently, Investor A's initial invest-
ment swells to an impressive Rs 40 lakhs.
In contrast, Investor B chooses to venture into the stock market independently with the same
initial sum of Rs 10 lakhs. However, they encounter a significant setback in the first year, suffering
a 25% loss. Recognizing the mistake, Investor B subsequently shifts their strategy to align with that
of Investor A. After a decade, Investor B's portfolio stands at Rs 26 lakhs.
As a result, after this 10-year period, Investor A boasts a 54% larger portfolio than Investor B.
This stark contrast in outcomes can be attributed to two primary factors: firstly, Investor B incurred
a substantial 25% loss in the very first year, and secondly, Investor B had only nine years to com-
pound their wealth compared to Investor A's ten-year horizon.
Scenario 2:
Now, let's explore a second scenario. Imagine an investor who consistently achieves a 15%
annual return over a decade by adopting a passive investment approach, focusing on Index Mu-
tual Funds. Concurrently, there's another investor who adopts a more active investment strategy,
yielding an 18% annual return over nine years. However, in the tenth year, this investor experi-
ences a 10% loss.
The intriguing twist in this scenario is that the investor with the stable 15% annual return ulti-
mately accumulates more capital than the one who earned higher returns for nine consecutive
years. This outcome may initially confound expectations and defy common assumptions. Many
individuals naturally assume that consistently outperforming by 3% annually for nine years within

Cont...
Financial Weekly TM

1st October 2023 to 7th October 2023 48

a 10-year timeframe should outweigh a single year of a 10% loss.
To truly grasp the significance of these outcomes, consider the power of compounding. After the
initial nine years, Investor A, with a 15% compounded annual return on their initial investment of
Rs 10 lakhs, finds themselves with a portfolio worth Rs 35 lakhs. Meanwhile, Investor B, with
consistent 18% returns, amasses a more substantial corpus of Rs 43 lakhs after nine years. How-
ever, in the tenth year, Investor A continues to earn steady returns, while Investor B faces setbacks
due to a few misjudged investments.
The underlying message here is clear: if you find yourself consistently outperforming the mar-
ket, it's prudent to continue your strategy with cautious experimentation. Even a single year of poor
performance can significantly impact your overall returns.

Happy investing!
Dr. Anil KumarAsnani : SEBI Reg. Research Analyst
Whatsapp: 9755920780 : Mobile: 9131361959
Website: https://www.smartverc.com

SEBI Extends Date to

31st December, 2023
*Duplicate /Misplaced /Lost Share Certificates
*MisMatch Of Signature
*Share Transmission
*Name Change
After Marriage
*Legal Heir Certificate
*IEPF. Unclaimed Dividend. Not Receiving Dividend

Contact / Whatsapp
9819141377 (Shri Jitesh Shah)
Legal Expert on Anything on Shares
Financial Weekly TM

1st October 2023 to 7th October 2023 49

Kishore Purswani
(Email: kishore.purswani@gmail.com)

Interpretation of Financial Statements-XX

Balance Sheet
Introduction
Mary Buffett in Chapter 21 of her book "Warren Buffett and Interpretation of Financial State-

ments" has delved into the components and importance of Balance Sheet. Warren Buffett while

figuring out durable competitive edge for a company looks at the assets and liabilities ofthe com-

pany. The assets and liabilities can be found in the company's balance sheet.

Balance Sheet
A balance sheet, also known as a statement of financial position, is one of the key financial

statements used in accounting and finance to provide a snapshot of a company's financial health

at a specific point in time. It is typically prepared at the end of an accounting period, such as a

quarter or a financial year. The balance sheet is structured in a way that it presents the company's

assets, liabilities, and shareholders' equity.

Components of a Balance Sheet

1. Assets : Assets are the resources owned by the company that have economic value and are

expected to provide future benefits. Assets are typically divided into two categories:

1.1Current Assets : These are assets that are expected to be converted into cash or used up

within one year. Common current assets include cash, accounts receivable, inventory, and short-

term investments.

1.2 Non-Current Assets (or Long-Term Assets) : These are assets that are not expected to

be converted into cash or used up within one year. Non-current assets include items like property,

plant, equipment, long-term investments, and intangible assets like patents and trademarks.

2. Liabilities : Liabilities represent the company's obligations or debts that it owes to external

parties. Liabilities are also categorized into two main groups:

Cont...
Financial Weekly TM

1st October 2023 to 7th October 2023 50

2.1. Current Liabilities : These are obligations that are expected to be settled within one year.

Common current liabilities include accounts payable, short-term debt, and accrued expenses.

2.2. Non-Current Liabilities (or Long-Term Liabilities) : These are obligations that are not

expected to be settled within one year. Non-current liabilities may include long-term loans, bonds,

and deferred tax liabilities.

3. Shareholders' Equity : Also known as owner's equity or stockholders' equity, this represents

the residual interest in the assets of the company after deducting liabilities. Shareholders' equity is

typically divided into two main components:

3.1 Common Stock : This represents the capital contributed by shareholders when they pur-

chase shares in the company.

3.2 Retained Earnings : This is the cumulative amount of earnings the company has retained

and reinvested in the business over time. It includes profits that have not been distributed as divi-

dends.

The balance sheet follows the fundamental accounting equation, which states that:

Assets = Liabilities + Shareholders' Equity

This equation must always hold true, ensuring that the balance sheet is indeed balanced.

Conclusion
The balance sheet is a crucial tool for assessing a company's financial position, as it provides

insights into its liquidity, solvency, and overall financial stability. Investors, creditors, and analysts

use it to make informed decisions about the company's financial health and performance.

Happy investing!

Kishore Purswani

M No 9425604104,

Mail id: kishore.purswani@gmail.com

Financial Weekly TM

1st October 2023 to 7th October 2023 51

Scrip Watch - Siddharth Shah

Tata Power Ltd (Rs. 263.00) (Code : 500400) :- Tata Power Renewable Energy
, a subsidiary of Tata Power Ltd, will establish a 41 MW captive solar plant at Thoothukudi in
southern Tamil Nadu for its subsidiary TP Solar’s new greenfield 4.3 GW solar cell and module
manufacturing facility that is coming up at Tirunelveli. The captive solar power unit is expected to
generate 101 million units of electricity and offset around 72,000 tonnes of CO2 emissions annu-
ally. The project will be commissioned in 12 months after the signing of the project development
agreement. TP Solar’s solar cell manufacturing plant is expected to start commercial production by
FY25. The company’s proposed investment in this project is Rs 3,000 crore as per the MoU signed
with the Tamil Nadu government. The company is rapidly expanding its renewable portfolio which
might benefit in a big way going forward. Buy.

Endurance Technologies (Rs. 1591.00) (Code : 540153) :- Endurance Tech-

nologies Limited has evaluated and approved capacity expansion for manufacturing aluminium
Alloy Wheels ("AW") for two wheeler applications. The capacity expansion shall be at its existing
facility at Chakan, Dist. Pune and the estimated investment is Rs. 450 million. The existing capac-
ity is 190,000 sets (front and rear) of Alloy Wheels per month and the capacity utilization is 98% of
the existing capacity. The proposped capacity addition is 40,000 sets of Alloy Wheels per month.
The expansion project is expected to be completed by April, 2024. Endurance intends to spend a
capex of Rs 350-400 crore in India and €40-45 million in Europe in FY24 as the auto parts manu-
facturer looks to ramp up capacity to meet the growing order flows. Invest.

Share India Securities (Rs. 1308.00) (Code : 540725) :- Share India Securities
Limited is considering the 100 per cent acquisition of M/s Silverleaf Capital Services Private Lim-
ited, based in Mumbai. This acquisition may be executed through methods such as merger, share
purchase, or other permissible modes. Established in 2011, Silverleaf Capital Services Private
Limited, located in Kanjurmarg West, Mumbai, is into high-frequency trading. The potential acqui-
sition is anticipated to enhance Share India Securities’ technological capabilities, broaden its prod-
uct offerings, diversify revenue streams, and facilitate global expansion, ultimately benefiting share-
holders. Silverleaf combines Machine Learning, AI techniques and mathematical modelling with
in-house low-latency software and hardware trading capability to discover and profit from market
inefficiencies to offer Low-Latency Statistical Arbitrage, Market Making and support for Research
Projects. Silverleaf Capital Services recorded a turnover of Rs. 16.33 Cr in FY23. 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

1st October 2023 to 7th October 2023 52

Market Tips - Het Zaveri

Kajaria Ceramics (Rs. 1322.00) (Code : 500233) :- Brent Crude and Spot LNG
prices spiked 25-31 per cent over the last 2-3 months, which can raise fuel consumption costs of
ceramics players like Kajaria Ceramics. Spot LNG price too has been on a rising trend and in-
creased 31 per cent over July average. Average fuel price for KJC is expected to mount about 8 per
cent in H2-FY24. However, even after this possible rise in fuel prices, the increased average con-
sumption price for KJC will be still 20 per cent+ lower than its average consumption price for FY23.
Hence, this should lead to margin improvement for the company. KJC’s operating profit margin is
expected to be at 15.8 per cent in FY24 v/s 13.5 per cent in FY23. If crude comes down, margin will
be much better. Buy.

MCX (Rs. 2109.00) (Code : 534091) :- Multi Commodity Exchange of India (MCX),
India’s largest commodity derivatives exchange, will be moving to its new technology platform on
October 3, the company said in a regulatory filing to the bourses. Following the confirmation, the
stock of MCX hit a 52-week high of Rs 2,103.85 on BSE on Thursday (September 28, 2023). The
new commodity derivative platform will be serviced by Tata Consultancy Services (TCS). MCX
has announced that it will be implementing the new web-based Commodity Derivatives Platform
(CDP) that would interface with members for providing risk management, collateral management
and settlement-related services to members and market participants. The commodity exchange,
which was launched in 2003, said that a mock session ahead of the commodity derivative platform
launch has been fixed on October 2, 2023. The stock is worth accumulation at current level and
more at decline.

CE Info Systems (Rs. 1996.00) (Code : 543425) :- Shares of CE Info Systems

Ltd., which owns MapmyIndia, surged 11% on Thursday to hit an all-time high on the back of heavy
volumes. The total traded volume so far in the day stood at 16 times its 30-day average. The pro-
vider of advanced digital maps saw all-time highs in revenue, Ebitda and profit in the first quarter of
the current financial year. It is focusing on international business, with efforts to build international
maps and expand its presence. 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, according to their August con call. The stock is
fundamentally very strong. Buy in two phase.
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

1st October 2023 to 7th October 2023 53

SMART TIPS Smita N. Zaveri

NCC (Rs. 155.00) (Code: 500294) :- Known as Nagarjuna Construction Company

earlier, NCC was established in 1978. The company had launched its IPO in the year 1992. The
company has a pan-India presence with offices in 13 cities. Central and state governments and
PSUs are its key clients. It has little presence in the international markets. It is mainly engaged in
buildings, housing, roads, flyovers, electricity, water supply, environment, mining, irrigation, real
estate, and power sectors. In the June quarter, NCC reported income of Rs. 4380.39 crore and
profit of Rs. 184.22 crore. It registered EPS of Rs. 2.76 on an equity of Rs. 125.57 crore. It is seen
benefitting from Sagarmala, Bharatmala, PM Awas Yojana, Dedicated Freight Corridor, and other
such initiatives. NCC’s debt of Rs. 1306 crore in the first quarter was the lowest in 10 years. Its
reserves are 48 times the equity. The stock can be bought with a target price of Rs. 202 for the next
3-4 quarters with a stop-loss of Rs. 128.
Praj Industries (Rs. 586.00) (Code: 522205) :- The company makes machinery for
the sugar, ethanol and liquor sectors. The A group listed shares have a face value of Rs. 2. The
shares touched a 52-week high of Rs. 610 and low of Rs. 299. The company’s market cap is Rs.
10,774 crore. The company is benefiting from the strong performance of the sugar sector for some
time. Promoter shareholding is 32.82% and public shareholding is 67.18%. Its equity is Rs. 37
crore. The company registered EPS of Rs. 2.68 in the June quarter. DIIs and FIIs hold 8.40% and
18.30% shares respectively. The Centre’s focus on promoting ethanol as a fuel is seen benefiting
Praj Industries. Investors can buy the stock in tranches for good returns in the long term. Its income
in the June quarter declined from Rs. 671 crore to Rs. 661 crore, even as profit went up from Rs. 40
crore to Rs. 49 crore.
L&T Finance (Rs. 133.00) (Code: 533519) :- The shares of this A group listed
company have a face value of Rs. 10. The shares touched a 52-week high of Rs. 140 and a low of
Rs. 71. Promoter L&T holds 66.10% stake. The company began with financing farm equipment
and commercial vehicles, before foraying into housing finance space in 2012. It acquired Indo
Pacific Housing Finance Limited and Family Credit Limited in the same year. The company has
increased its share of lending to rural and housing segments. It has a market cap of Rs. 29,102
crore. Its equity is Rs 2479 crore and reserves are Rs. 18,907 crore. For the June quarter, income
went up from Rs. 3135 crore to Rs. 3376 crore and profit from Rs. 261 crore to Rs. 530 crore. The
stock is trading near its 52-week high and can be seen rising further.
Manappuram Finance (Rs. 149.00) (Code: 531213) :- The shares of this NFBC
are listed in the A group and have a face value of Rs. 2. The shares touched a 52-week high of Rs.
156 and low of Rs. 92. The company is predominantly based in South India and provides gold
loans and loans for housing and commercial vehicles. The quality of its gold loan portfolio has
improved. It has also shifted its focus to the housing finance segment. It has more than 4,300
branches. It has added 3.25 lakh new customers, while it has 26.3 live gold loan customers. Its
subsidiary Ashirwad Microfinance reported 57.18% growth. Promoter holding in Manappuram Fi-
nance is 35.20% and public shareholding is 64.80%. Its market cap is Rs. 12,535 crore. Its equity
is Rs. 169 crore and its reserves are Rs. 9461 crore. Its income in the June quarter went up from
Rs. 1502 crore to Rs. 2057 crore, and profit from Rs. 281 crore to Rs. 498 crore. The stock can be
seen at closing the 52-week high price 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 29th September, 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

1st October 2023 to 7th October 2023 54

Smart super duper - Het Zaveri

SJVN (Rs. 73.00) (Code: 533206) :- The company was earlier known as Satluj Jal Vidyut
Nigam. It is a joint venture between Government of India and State Government of Himachal Pradesh. It
owns a 1500 MW, the country's biggest Hydro Project and total 8 projects with 2091.5 MW. The company
plans to increase the power generation capacity to 5000 MW by 2024, 25000 MW by 2030 and 50000 MW
by 2040. As against equity of Rs. 3930 crore, the company has reserves of Rs. 9930 crore. In June quarter,
the company's income decreased from Rs. 1004 crore to Rs. 675 crore, while profit decreased from Rs.
609 crore to Rs. 272 crore. The power sector is witnessing a bullish wave. It can be considered for invest-
ment with a long term view.

HUDCO (Rs. 91.00) (Code: 540530) :- The PSU came up with an IPO in 2017. The stock
touched Rs. 100 level but started falling down to touch Rs. 18.7. Now it is being quoted near Rs.90. The
company is active in housing finance. In June quarter, the company's income increased from Rs. 1749
crore to Rs. 1843 crore, while profit increased from Rs. 412 crore to Rs. 446 crore. The stock is being
quoted at PE of 10.6. It paid 38.5% dividend for FY2023. The stock can be bought at any drop in prices.

NBCC (India) (Rs. 58.00) (Code: 534309) :- The company promoted by GoI has
completed landmark projects in India and abroad. It has three divisions including project management
consultancy, real estate development and EPS contracts. In real estate development, there are two divi-
sion. One purchases private or government land and sells after developing it, while another builds govern-
ment colonies on PPP model. It has received NavRatna status so brokerage firms and funds are attracted
to it. As against equity of Rs. 180 crore, the company has reserves of Rs. 1735 crore. In June quarter, the
company's income increased from Rs. 1366 crore to Rs. 1478 crore, while profit was Rs. 63 crore as
against losses of Rs. 13 crore. Order book is strong. It may give handsome return in long term.

Aarti Industries (Rs. 491.00) (Code: 524208) :- The company is part of F&O. The
Commodity Chemical sector company is based in Mumbai and owns 18 units of which the majority units are
in the western part of the country. It manufactures which manufactures chemicals and pharma products
that are used in fertilizer agro chem, polymers, adhesives, surfactants, pigments, dyes, etc. It is planning to
demerge its personal and home care business. It also owns two R&D centers and has employed more than
150 scientists and engineers. Moreover, it could save Rs. 25 crore due to three co-generation power plants.
As against equity of Rs. 181crore, the company has reserves of Rs. 4739 crore. In the June quarter, the
company's net profit decreased from Rs. 136 crore to Rs. 70 crore, while income decreased fromR s. 1610
crore to Rs. 1414 crore. It can be purchased in two-three phases.

Disclosures : At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of
his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up
or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived
from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses
made by anybody.
Financial Weekly TM

1st October 2023 to 7th October 2023 55

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

Will the FED raise interest rates?

The next Federal Open Market Committee (FOMC) meeting is scheduled for October

31–November 1, 2023.

Dollar Index is over 104 and persistence selling by FIIs, Crude is expected to touch 100 dollar in

coming day. Forth coming elections of state s if ruling party get jolt, we may see further down.

In this falling market NYKAA is worth buying. SL should be 147.

Buy Indus towers around 185 with SL at 180.

Vedanta : FIIs degrade share, Price went down by almost Rs 60. One Hindi business Chanel

must be regretting promoting this group. Will share price breaks 230 level.

Delta Corp. : News of tax liability of 15000 cr notice, Share lost rs.100 from top. This on line

game company is in more trouble when investor sold 15 lakhs shares. The company is taking legal

Advice and not at all in mood to surrender. If company loose investors will be on road.

Tata chemicals again in bears hand. Short on rise there will be curb on sugar exports. This

indicates sugar come pains to benefit and consumers will suffer.

Government to raise cement prices from this week. Due to high crude transport. Cost is high so

inflation would go up

Trading time expected to extend is good proposal but when markets reopen it should be same

settlement and not next day settlement. This will help to cut less if any of morning session if next

day settlement is clubbed; traders will be credited margin or profit of morning session on same

day?
Financial Weekly TM

1st October 2023 to 7th October 2023 56

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Financial Weekly TM

1st October 2023 to 7th October 2023 57

Primary Market - Dilip K. Shah
September 2023 creates a new record in terms of IPOs launched in a single month: Number of IPOs at peak of 13 years
Due to inauspicious period from September 29 to October 14 the primary market witnesses bullish wave now
SME IPO subscription 450x, returns up to 750% and IPO index witnesses spurt of 100%: Operation in Grey Market
SEBI's tough stance against promoters and brokers working together using social media influence for money laundering
This week total 17 issues including 2 mainboard, 10 SME, 3 rights and 2 NCDs are in the market
Mainboard IPos of Plaza wires and JSW Infra receive good response from the beginning
Average response to Updater Services, Manoj Vaibhav, Valiant Lab. Issues
SME IPO subscription: Holmarc 63%, Chavda 40% and Madhusudan 71%
Mainboard IPO Lisitng: Signature 15% premium, Sai Silk 4% premium & Yatra Online 9% discount
SME IPOs of Goyal Salt, Inspire Films, Digikore, Hi-Green subscribed in range of 100-129 times
All eyes will be on listing of JSW on Tuesday: Listing may be a block buster
Plaza Wires' IPO with a price band of 51-54 may get many more times subscription in retail and QIB on the last day
September 2023 has created a record with most number of IPOs in the last 13 years. One of the reasons could be the
expiry date of the approval obtained by the companies from SEBI. Moreover, the inauspicious period of Shraddha
Paksha is beginning from September 29 so the companies have preferred to enter the market now.
In March 2017, total 26 IPOs and in March 2018 total 36 IPOs entered the market. In September 2017 40 IPOs, in
September 2018 28 IPOs and and in September 2023 total 82 IPOs have entered the market. It shows that a record has
been created. However, SME segment has dominated the market during this period.
Moreover, SME IPOs have witnessed subscription in range of 130-144 times, while BSE SME Index has witnessed
a spurt of 132%. More than 60 companies have given returns in range of 75% to 750%. However, it is believed that a
modus operandi of brokers and promoters has played a major role in all such unusual happenings. They are using social

Tentative Timetable for SME & Main Line IPOs

IPOs Name Issue Basis Refund/ Credit of Listing
Closes of Unblock Shares Date
Date Allotment Amount to Demat
Manoj Vaibhav Main Line IPO 26-9-23 29-9-23 3-10-23 4-10-23 5-10-23
JSW Infra Main Line IPO 27-9-23 3-10-23 4-10-23 5-10-23 6-10-23
Updater Ser. Main Line IPO 27-9-23 4-10-23 5-10-23 6-10-23 9-10-23
Valiant Lab. Main Line IPO 3-10-23 5-10-23 6-10-23 6-10-23 9-10-23
Plaza Wires Main Line IPO 4-10-23 9-10-23 10-10-23 11-10-23 12-10-23
Mangalam Alloys NSE SME 25-9-23 28-9-23 29-9-23 3-10-23 4-10-23
Digikore Studios NSE SME 27-9-23 29-9-23 3-10-23 3-10-23 4-10-23
Organic Recycling BSE SME 26-9-23 29-9-23 3-10-23 4-10-23 5-10-23
Saakshi Medtech NSE SME 27-9-23 3-10-23 4-10-23 5-10-23 6-10-23
Inspire Films NSE SME 27-9-23 3-10-23 4-10-23 5-10-23 6-10-23
Newjaisa Technologies NSE SME 27-9-23 4-10-23 5-10-23 6-10-23 9-10-23
Arabian Petroleum NSE SME 27-9-23 4-10-23 5-10-23 6-10-23 9-10-23
Sunita Tools BSE SME 28-9-23 4-10-23 5-10-23 6-10-23 9-10-23
Goyal Salt NSE SME 29-9-23 5-10-23 6-10-23 9-10-23 10-10-23
City Crops Agro BSE SME 29-9-23 5-10-23 6-10-23 9-10-23 10-10-23
Kontor Space NSE SME 3-10-23 6-10-23 9-10-23 10-10-23 11-10-23
E Factor Experiences NSE SME 3-10-23 6-10-23 9-10-23 10-10-23 11-10-23
Vinyas Innovative NSE SME 3-10-23 6-10-23 9-10-23 10-10-23 11-10-23
Oneclick Logistics NSE SME 3-10-23 6-10-23 9-10-23 10-10-23 11-10-23
Canarys Automations NSE SME 3-10-23 6-10-23 9-10-23 10-10-23 11-10-23
Vivva Tradecom BSE SME 4-10-23 9-10-23 10-10-23 11-10-23 12-10-23
Vishnusurya Projects NSE SME 4-10-23 9-10-23 10-10-23 11-10-23 12-10-23
Sharp Chuck NSE SME 4-10-23 9-10-23 10-10-23 11-10-23 12-10-23
Plada Infotech NSE SME 4-10-23 9-10-23 10-10-23 11-10-23 12-10-23
Karnika Industries NSE SME 4-10-23 9-10-23 10-10-23 11-10-23 12-10-23

Cont...
Financial Weekly TM

1st October 2023 to 7th October 2023 58

Grey Market Premium / Kostak / Subject to Prices
IPOs Name Lot Size Offer Price Premium Kostak Price Subject to

Name (Shares) (Rs.) (Rs.) *Min. Appl. Sauda

Manoj Vaibhav Main Line IPO 69 204 to 215 5 to 6 600 9,200

JSW Infra Main Line IPO 126 113 to 119 27 (Buyers) 400 3,100
Small HNI 2,500
44,000
Big HNI 10,000
44,000
Updater Services Main Line IPO 50 280 to 300 0.00
Valiant Lab. Main Line IPO 105 133 to 140 13 to 15 -- 1,000
Big HNI 3,500 10,000
Plaza Wires Main Line IPO 277 51 to 54 18 to 20 (Buyer) 200 2,500
HNI 36,000
Mangalam Alloys NSE SME 1600 80.00 0.00
Organic Recycling BSE SME 600 200 0.00
Saakshi Medtech NSE SME 1200 92 to 97 28 to 30 35,000
Inspire Films NSE SME 2000 56 to 59 16 to 18 26,000
Sunita Tools BSE SME 1000 145 18 to 20 18,000
Digikore Studios NSE SME 800 168 to 171 75 to 80 56,000
Newjaisa TechnologiesNSE SME 3000 44 to 47 3 to 4 6,000
Arabian Petroleum NSE SME 2000 70 5 to 7
Goyal Salt NSE SME 3000 36 to 38 18 to 20 55,000
City Crops Agro BSE SME 6000 25 0.00 - -
E Factor Experiences NSE SME 1600 71 to 75 10 to 12 -- 12,000
Kontor Space NSE SME 1200 93 45 to 50
Vinyas Innovative NSE SME 800 162 to 165 17 to 20 -- 12,000
Oneclick Logistics NSE SME 1200 99 44 to 45 700 45,000
Canarys Automations NSE SME 4000 29 to 31 5 to 6 -- 12,500
Vivva Tradecom BSE SME 2000 51 0.00
Vishnusurya Projects NSE SME 2000 68.00 30 to 32 -- 46,000
Sharp Chuck NSE SME 1200 58 20 to 22 -- 35,000
Plada Infotech NSE SME 3000 48 22 to 24 -- 48,00
Karnika Industries NSE SME 1600 76 0.00
Akanksha Power NSE SME 3000 40 to 45 0.00
Committed Cargo NSE SME 14 to 16

Don't subscribe IPO only on the basis of Grey premium. Before Investing check the fundamentals of IPO

Cont...
Financial Weekly TM

1st October 2023 to 7th October 2023 59

Main - line IPO (Non SME)
Sr Company Issue Open Dt. Issue size Offer price Lead Manager Rating & Remark
Issue Close Dt. (Rs. Cr.) (Rs.) (Out of 50%)
1 Valiant 27-9-2023 1,08,90,000 Shares 133 to 140 Unistone Capital 30%
Laboratories to Rs. 152.46 Cr. (F.V. Rs. 10) Registrar : Link Intime India Apply for Long Term
(Book Building) 3-10-2023
2 Plaza Wires 29-9-2023 1,32,00,158 Shares 51 to 54 Pantomath Capital 33%
(Book Building) to Rs. 71.28 Cr. (F.V. Rs. 10) Registrar : KFin Technologies Apply for Mid Term
4-10-2023

Listing Information of SME IPOs

Co. Name Listing Code Offer Listing Listing Listing Listing CMP
Date Price Price Day Day Day 29th
(Rs.) (Rs.) High Low Close Sept.
Chavda Infra (NSE SME) 25-9-2023 CHAVDA 65.00 91.00 92.00 86.45 86.45 86.00
Holmarc Opto (NSE SME) 25-9-2023 HOLMARC 40.00 65.25 68.50 65.00 68.50 83.15
Kundan Edifice (NSE SME) 26-9-2023 KEL 91.00 75.00 78.75 71.25 78.75 75.00
Madhusudan (NSE SME) 26-9-2023 MADHUSUDAN 70.00 120.00 124.00 114.00 114.00 115.50
Signatureglobal (Main Line) 27-9-2023 543990 385.00 444.00 474.00 444.00 458.55 477.90
Kody Technolab (NSE SME) 27-9-2023 KODYTECH 160.00 170.00 178.50 169.00 178.00 196.75
Sai Silks (Main Line IPO) 27-9-2023 543989 222.00 230.10 246.85 230.10 244.85 253.20
Cellecor Gad. (NSE SME) 28-9-2023 CELLECOR 92.00 92.00 96.60 88.15 96.60 101.40
Yatra Online (Main line IPO) 28-9-2023 543992 142.00 130.00 138.50 127.40 135.95 136.90
Marco Cables (NSE SME) 28-9-2023 MARCO 36.00 38.70 40.60 37.05 40.60 42.60
Techknowgreen (BSE SME) 28-9-2023 543991 86.00 87.00 91.35 86.10 91.35 100.70
Hi-Green (NSE SME) 28-9-2023 HIGREEN 75.00 77.00 80.85 75.45 80.85 84.85
Master Compo (NSE SME) 29-9-2023 MASTER 140 140.40 142.00 140.15 140.20 140.20

Subscription figure of media to influence the market as well as creating an artificial demand in inter-
Aditya Birla NCDs Issue est and subject to segments in the grey market. It is believed that there is a
Dubai connection of such a fraudulent practice.
Category No. of Bond Issue Now SEBI has swung into action to curb all such malpractices. Apart from
Offered/ Subscribed that income tax department is also keeping a vigil on such transactions. It may
Reserved 29-9-2023 create a negative impact on the mushrooming SME IPOs.
Institutional 25,00,000 2.27x * This week's mainboard IPOs:
Non Inst. 25,00,000 2.51x • Manoj Vaibhav :- The issue closed on September 26 with following sub-
HNI 25,00,000 2.57x scription: QIB : 1.08x, HNI : 5.40x, bHNI : 6.35x, SHNI: 3.49x and Retail :
Retail 25,00,000 1.87x 1.73x. Listing may be on October 3.
Total 1,00,00,000 2.31x Allotment : Out of every five applicants four may get 69 shares.
Lisitng :- It may list around Rs. 220-225.
Subscription figure of
• JSW Infra :- It has got following subscription: Total : 39.36x, QIB : 60.12x,
Muthoot Finance HNI : 16.83x, bHNI : 17.94x, SHNI : 14.62x and Retail : 10.87x. It has got
Category No. of Bond Issue better response than market expectations.
Offered/ Subscribed Allotment : Out of 7-8 applicants one may get 126 shares.
Reserved 29-9-2023 Listing :- It may get listed on Tuesday around Rs. 140-145 and may cross
Institutional 50,000 0.70x Rs. 150 level. Hold for better returns.
Non Institutional 2,00,000 12.55x • Updater Services :- It closed on September 27 with total 2.96x subscrip-
HNI 2,50,000 7.84x tion including QIB : 4.50x, HNI : 0.89x, bHNI : 1.07x, SHNI :0.53x and Retail :
Retail 5,00,000 8.78x 1.45x. It may list on October 9.
Total 10,00,000 8.90x Allotment :- It has got 1.45x subscription in retail and less in HNI. Full and

firm allotment or
Non Convertible Debenture (NCD) Issues at a Glance 10:8 allotment is
Sr Company Issue Open Bond size Price Min. Listing Rating Recomm. possible.
Issue Close (Rs. Cr.) (Rs.) App.
Listing :- If the
1. Muthoot 21-9-23 Base Size Rs.100 Cr. 1,000/-
10 NCDs BSE IND A-/Stable Apply for
Finance 6-10-23 Shelf Size (Rs.10,000) by India Rating Mid to
market doesn't sup-
Rs. 2600 Cr. Lead manager : A.K. Capital port it may list with
Long Term
Registrar : Link Intime India discount or nominal
2. Aditya Birla 27-9-2023 Base Size Rs.1000 Cr. 1,000/- 10 NCDs BSE IND AAA premium.
Finance 12-10-2023 (Rs.10,000) NSE Outlook Stable • Valiant Lab
Lead manager : Trust Invest, [ICRA] AAA
A.K. Capital, JM Fin., Nuvama (Stable)
Cont...
Financial Weekly TM

1st October 2023 to 7th October 2023 60

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. Kontor 27-9-23 16,80,000 Shares 93 1200 Shares Srujan Wait for Listing
Space 3-10-23 Rs. 15.62 Cr. (F.V.Rs.10) Rs. 1,11,600 Alpha
2. E Factor 27-9-23 34,56,000 Shares 71 to 75 1600 Shares Hem 32%
Experiences 3-10-23 Rs. 25.92 Cr. (F.V.Rs.10) Rs. 1,20,000 Securities Apply for Short Term
3. Vinsys 27-9-23 33,12,800 Shares 162 to 165 800 Shares Sarthi 31%
Innovative 3-10-23 Rs. 54.66 Cr. (F.V.Rs.10) Rs. 1,32,000 Capital Apply for Long Term
4. Oneclick 27-9-23 10,00,800 Shares 99 1200 Shares Fedex 32%
Logistics 3-10-23 Rs. 9.91 Cr. (F.V.Rs.10) Rs. 1,18,800 Securities Apply for Shor Term
5. Canarys 27-9-23 1,51,72,000 Shares 29 to 31 4000 Shares Indorient 31%
Automations 3-10-23 Rs. 47.03 Cr. (F.V.Rs.2) Rs. 1,24,800 Financial Apply for Mid Term
6. Vishnusurya 29-9-23 73,50,000 Shares 68 2000 Shares Khandwala 31%
Projects 4-10-23 Rs. 49.98 Cr. (F.V.Rs.10) Rs. 1,36,000 Securities Apply for Mid Term
7. Sharp 29-9-23 Fresh : 9,75,484 Shares 58 2000 Shares Fedex 30%
Chucks 4-10-23 OFS : 19,28,516 Shares (F.V.Rs.10) Rs. 1,16,000 Securities Apply for Mid Term
Total : 29,04,000 Shares
Rs. 16.84 Cr.
8. Plada 29-9-23 25,74,000 Shares 48 3000 Shares Indorient 29%
Infotech 4-10-23 Rs. 12.36 Cr. (F.V.Rs.10) Rs. 1,44,000 Financial Apply for Long Term
9. Karnika 29-9-23 32,99,200 Shares 76 1600 Shares Beeline 25%
Industries 4-10-23 Rs. 25.07 Cr. (F.V.Rs.10) Rs. 1,21,600 Capital High Risk Low Return

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. Vivaa 27-9-23 15,66,000 Shares 51 2000 Shares Interactive 18%
Tradecom 4-10-23 Rs. 7.99 Cr. (F.V.Rs.10) Rs. 1,02,000 Financial Clear Avoid

Subscription Figure of (Mainboard) :- Rs. 152.46 crore issue with a priceband of Rs. 133-140 opened
Manoj Vaibhav on September 27 and will close on October 3.
Subscription :- It has got total 2.19x, QIB 1.04x, HNI 1.52, retail 3.14x.
No. Shares Issue
May get around 4-6x subscription in retail.
Offered/ Subscribed
Refund/allotment :- Allotment may be on October 5, refund on October 6
Reserved 22-9-23 25-9-23 26-9-23 and share credit on October 6.
QIB 25,13,488 0.00x 0.34x 1.08x
Allomtent :- In retail category out of every 3-5 applicants one may get
N II 18,85,116 0.05x 0.59x 5.40x
R eta il 43,98,605 0.26x 0.77x 1.73x 105 shares.
Total 1,25,67,369 0.14x 0.61x 2.33x Listing :- Listing on October 9 may be around Rs. 150-170.
• Plaza Wires Ltd (Mainboard) :- The issue with a price band of Rs. 51-
Subscription Figure of 54 and total size of Rs. 71.28 crore opened on September 29 and will close
JSW Infrastructure on October 5.
No. Shares Issue Subscription :- It has got total 4.78x , QIB 0.00x and HNI 4.80x sub-
Offered/ Subscribed scription and a robust 27.18x subscription in retail. It may go up to 40-50x in
retail.
Reserved 25-9-23 26-9-23 27-9-23
QIB 7,05,88,236 0.03x 0.58x 60.12x Refund / allotment :- Allotment may be on October 10, refund on Octo-
N II 3,52,94,118 0.63x 3.90x 16.83x ber 11 and share credit on October 12.
R eta il 2,35,29,411 1.50x 4.81x 10.87x Allotment :- Out of every 30-35 applicants one may get 277 shares.
Total 23,52,94,117 0.46x 2.25x 39.36x Listing :- Listing on October 13 may be around Rs. 60-70 and may come
closer to 90-100.
Subscription Figure of * Listing:-
Updater Services • NSE SME:-
No. Shares Issue Chavda Infra :- Issue got listed with 40% premium at Rs. 91 on Septem-
Offered/ Subscribed ber 25.
Reserved 25-9-23 26-9-23 27-9-23 Holmarc Opto :- Issue got listed with 63% premium at Rs. 65.26 on
QIB 64,00,000 0.00x 0.00x 4.50x September 25. It closed at Rs. 83.15 on Friday.
N II 32,00,000 0.01x 0.12x 0.89x Kundan Edifice :- Issue got listed with 21% discount at Rs. 21.75 on
R eta il 21,33,333 0.32x 0.72x 1.45x September 25.
Total 2,13,33,333 0.06x 0.17x 2.96x

Cont...
Financial Weekly TM

1st October 2023 to 7th October 2023 61

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. Varanium 28-9-2023 40,20,574 123 1 Shares for every NSE --
Cloud to Shares (F.V. Rs.5) 10 shares held on Registrar
4-10-2023 (Rs. 49.45 Cr.) record Date : 15-9-2023 Bigshare Services
2. Globe 4-10-2023 48,23,640 49.5 6 Shares for every NSE --
Intl. to Shares (F.V. Rs.10) 25 shares held on BSE Registrar
12-10-2023 (Rs. 23.88 Cr.) record Date : 22-9-2023
3. Bhandari 3-10-2023 1,69,11,111 4.5 3 Shares for every BSE --
Hosiery to Shares (F.V. Rs. 1) 26 Shares held on NSE Registrar Next Week
Exports 13-10-2023 (Rs. 7.61 Cr.) 23-9-2023 Link Intime India
4. Marshall 11-10-2023 1,01,85,000 44.8 7 Shares for every NSE --
Machines to Shares (F.V. Rs. 1) 10 Shares held on Registrar Next Week
Exports 19-10-2023 (Rs. 45.63 Cr.) 29-9-2023 --
5. Sychem 16-10-2023 79,72,600 40 1 Shares for every BSE --
India to Shares (F.V. Rs. 10) 4 Shares held on Registrar Next Week
27-10-2023 (Rs. 31.89 Cr.) 29-9-2023 Beetal Finance
6. Dollex -- -- -- 1 Shares for every NSE --
Agro to Shares (F.V. Rs. 10) 2 Shares held on Registrar Next Week
-- (Rs. 49.00 Cr.) -- --
7. JayKay -- 5,84,57,688 25 1 Shares for every NSE -- Next Week
Enterprise Shares (F.V. Rs. 1) 1 shares held on
(Rs. 146.14 Cr.) record Date
8. Gala Global -- 5,45,88,083 8.60 1 Shares for every BSE --
Products -- Shares (F.V. Rs. 5) 1 Shares held on Registrar Next Week
(Rs. 46.95 Cr.) -- --

Madhusudan :- Issue got listed with

Subscription Figure of Subscription Figure of 71% premium at Rs. 120 on September
Plaza Wires Valient Laboratories 26.
No. Shares Issue No. Shares Issue Signatureglobal :- Issue got listed
Offered/ Subscribed Offered/ Subscribed with 15% premium at Rs. 444 on Septem-
Reserved 29-9-23 Reserved 27-9-23 28-9-23 29-9-23 ber 27 and closed at Rs. 477.90 on Fri-
QIB 61,96,076 0.00x QIB 21,78,030 0.00x 0.05x 1.04x day.
N II 19,80,023 4.80x N II 16,33,500 0.10x 0.29x 1.52x Kody Technolab :- Issue got listed
R eta il 13,20,015 27.18x R eta il 38,11,500 0.62x 1.29x 3.14x with 6.25% premium at Rs. 170 on Sep-
Total 1,32,00,158 4.78x Total 1,08,90,000 0.33x 0.72x 2.19x tember 27 and closed at Rs. 196.75 on
JSW Infrastructure Friday.
Plaza Wires
Sai Silks (Mainline) :- Issue got listed with 3.66%
Price Band Rs. 51 to 54 Listing : NSE & BSE
Lot Size Price Amount premium at Rs. 230 on September 27.
Date : Tue, 3 Oct, 2023
Retail M 277 54 14,958 ISIN : INE880J01026 Yatra Online (Mainline) :- Issue got listed with 9%
Retail MX 3601 54 1,94,454
BSE Code : 543994 discount at Rs. 130 on September 28 and closed at
sHNI M 3878 54 2,09,412 Rs. 136.90 on Friday.
sHNI MX 18282 54 9,87,228 BSE Group : "B"
NSE Sym : JSWINFRA Celletor Gadagate : Issue got listed at-par at Rs.
bHNI M 18559 54 10,02,186
NSE Series : EQ 92 on September 28.
Valient Laboratories Marco Cables :- Issue got listed with 7.5% pre-
IPO Price : Rs. 119/-
Price Band Rs. 133 to 140 mium at Rs. 87 on September 28.
Lot Size Price Amount
Face Value : Rs. 2/-
IPO Lot : 126 Shares Master Compo :- Issue got listed at-par at Rs.
Retail M 105 140 14,700
Retail MX 1365 140 1,91,100 Market Lot 1 140.40 and closed at Rs. 140.20 on Friday.
sHNI M 1470 140 2,05,800 Technogreen (BSE SME) :- Issue got listed at
sHNI MX 7140 140 9,99,600 1.16% premium at Rs. 87 on September 28.
bHNI M 7245 140 10,14,300 * Last week's SME IPOs:-
• NSE SME:-
Mangalam Alloys :- It closed on September 25 with total 5.57x and in retail 8.73x subscription.
Digikore Studios :- It closed on September 27 with total 281.58x including 370.17x in retail. It may list around Rs.
250 and may cross Rs. 275 level on October 4.
Saakshi Medtech :- It closed on September 27 with total 91.65x and 75.88x in retail. It may list on October 6 around
Rs. 120-125.
Inspire Films :- It closed on September 27 with total 129.08x and retail 1180.41x subscription. It may list around Rs.

Cont...
Financial Weekly TM

1st October 2023 to 7th October 2023 62

This week 3 rights issues of Bhadari Hosiery, Marshal Machines and Sychem to enter the market
Muthoot Fin's Rs. 100 crore NCDs has got 8.90x subscription
Aditya Birla Fin. Issue gets 2.31x subscription in just two days
Hi-Green, Techknowgreen Sol. And Kody Techno SME IPOs got listed with1-6% premiums
Karnika Ind. SME IPO got poor response from the beginning, Plada, OneClick and Kontor has got robust response
75-80 on October 6.
New Jaisa Techno :- It closed with total 6.85x and 6.54x subscription in retail. It may list around Rs. 45-50 on
October 9.
Arabian Petroleum :- It closed on September 27 with total 19.91x subscription including 23.19x in retail. It may list
around Rs. 75-80 on October 9.
Goyal Soalt :- It closed on September 29 with total 111.87x subscription including 179.88x in retail. It may list on
October 11 around Rs. 55-60.
* This week's SME IPOs :- Issue closed on September 26 with total 3.24x and in retail 2.21x subscription. It may list
on October 5 around Rs. 180-200.
Sunita Tools :- Issue opened on September 26 and will close on October 5. It got total 9.14 x subscription on the
fourth day. It may list around Rs. 165-175 on October 11.
* This week's SME IPOs:-
Vinyas Innovations (NSE SME) :- The issue got 3.19x subscription on the third ay. It may list on October 11 around
Rs. 180-185.

Subscription Figures of SME IPO (Dt. 29-9-23)

IPO Listing Day Subscribed
Hi-Green Carbon NSE SME Issue Closed on 25-9-2023 168.92x
Mangalam Alloy NSE SME Issue Closed on 25-9-2023 5.57x
Marco Cables & NSE SME Issue Closed on 25--2023 30.90x
Organic Recycling BSE SME Issue Closed on 26-9-2023 3.24x
Saakshi Medtech NSE SME Issue Closed on 27-9-2023 91.65x
Digikore Studios NSE SME Issue Closed on 27-9-2023 281.58x
Inspire Films NSE SME Issue Closed on 27-9-2023 129.08x
Newjaisa Technologies NSE SME Issue Closed on 27-9-2023 6.85x
Arabian Petroleum NSE SME Issue Closed on 27-9-2023 19.91x
Sunita Tools BSE SME Issue Closed on 29-9-2023 9.14x
Goyal Salt NSE SME 4th Day Subscribed 114.72x
City Crops Agro BSE SME 4th Day Subscribed 3.47x
E Factor Experiences NSE SME 3rd Day Subscribed 4.00x
Kontor Space NSE SME 3rd Day Subscribed 16.72x
Vinyas Innovative NSE SME 3rd Day Subscribed 3.19x
Oneclick Logistics NSE SME 3rd Day Subscribed 19.51x
Canarys Automations NSE SME 3rd Day Subscribed 1.04x
Vivva Tradecom BSE SME 3rd Day Subscribed 0.47x
Vishnusurya Projects NSE SME 1st Day Subscribed 0.84x
Sharp Chuck NSE SME 1st Day Subscribed 1.01x
Plada Infotech NSE SME 1st Day Subscribed 1.44x
Karnika Industries NSE SME 1st Day Subscribed 0.13x
Financial Weekly TM

1st October 2023 to 7th October 2023 63

Grey Market Movement
Grey Market is highly volatile due to bullish wave in SME IPOs and SEBI's tough stance
Fancy in mainboard IPO of JSW Infra and Plaza Wire and premiums cruble in Manoj and Valiant
Updates Services witness deals at zero premiums
Premiums soar in SME IPOs- Oneclick, Saakshi, Kontor, E-Factor, Goyal, Vishnusurya
Premiums under pressure in Digikore, Newjaisa Techno, Sharp Chucks, Arabian SME IPO
No deals or premiums in Mangalam Alloy, Organic, City Corp., Karnika, Vivaa
IPO season is nearing the end in the primary market. At this time, a huge inflow of new IPOs
and huge speculative trading in the grey market has resulted in high premiums and higher sub-
scription leading to volatility. Due to these unusual activities, the SEBI has taken a tough stance
and swung into action. As a result, SME listed share prices have gone down and grey market
premiums have also crumbled.
Mainboard IPOs :- The premiums have witnessed a spurt in JSW Infra and Plaza Wires,
while premiums have not started in Updater Services.
SME IPOs :- Majority of the SME IPOs, barring a few, have been under pressure.
The SME IPOs that have witnessed a spurt in premium include Oneclick Logistics, Saakshi
Medtech and Panels, E-Factor Experiences, Kontor Space, Goyal Plaza, Vinyas Innovative
Technologies,Vishnusurya Projects and Infra,Plada Infotech Services, etc.
The SME IPOs that witnessed a crash in premiums include DigikoreStudios, Newjaisa Tech-
nologies, Sharp Chucks and Machines,Arabian Petroleum, etc.
The issues of Mangalam Alloys, Organic Recycling Systems, City Crop Agro, VivaaTradecom,
Karnika Industries have neither witnessed premiums nor deals.

Canarys Automations (NSE SME) :- Issue got 1.04x subscription on the third day. It may list on October 11 around
Rs. 35-40.
One Click Logistics (NSE SME) :- It got 19.51x subscription on the third day. It may list on October 11 around Rs.
125-135.
Kontor Space (NSE SME) :- Issue got 16.72x subscription on the third day. It may list on October 11 around Rs.
130-140.
E Factor Experiences (NSE SME) :- Issue got 4x subscription on the second day. It may list on October 11 around
Rs. 85-90.
Viva Tradecom (BSE SME) :- Issue got 0.47x subscription on the third day. May list around Rs. 50-55 or in discount
on October 12.
Karnika Ind. Ltd (NSE SME) :- It got 0.13x subscription on the first day. Listing on October 13 may be around Rs.
75-80.
Plada Infotech (NSE SME) :- It got 1.44x subscription on the first day. Listing on October 13 may be around Rs. 70-
75.
Sharp Chuks(NSE SME) :- The issue got 1.01x subscription on the first day. It may list on October 13 around Rs.
75-80.
Vishnu Surya Projects (NSE SME) :- It got 0.84x subscription on the first day. Listing on October 13 may be around
Rs. 95-100
***
Financial Weekly TM

1st October 2023 to 7th October 2023 64

Valiant Laboratories Limited IPO
Opens on 27th Sept. & Closes on 3rd Oct.
Price Band Rs. 133 to 140; Listing on BSE & NSE
It has posted consistent growth in top line for the last three fiscals
Company reported setback in the bottom line for FY22 & FY23
On valuation front considering all parameters issue appears fully priced
Investors may apply for long-term prospective in this issue
Incorporated in 1980, Valiant Laboratories Limited is a pharmaceutical ingredient manufacturing company in India
having focuses on manufacturing Paracetamol. Valiant Laboratories Limited imports Para Amino Phenol, being the raw
material for the manufacture of Paracetamol from China and Cambodia. As of April 30, 2023, Valiant Laboratories has 86
employees.
Issue Details
• Issue Opens on 27th Sept. & Closes on 3rd Oct. 2023
• Object of the issue : Investment in its wholly-owned subsidiary, Valiant Advanced Sciences Private Limited (VASPL)
for part-financing its capital expenditure requirements in relation to the setting up of a manufacturing facility for
specialty chemicals at Saykha Industrial Area, Bharuch, Bharuch, Gujarat (Proposed Facility). Investment in VASPL
for funding its working capital requirements. General corporate purposes.
• Issue Size : 1,08,90,000 Shares ; Rs. 152.46 Cr. Financial Performance : Consolidated Basis
• Face Value Rs. 10 • Offer price Rs. 133 to 140 Particulars (Rs. Cr.) FY21 FY22 FY23
• Minumum Lot Size : 105 Share • Listing on : NSE & BSE Total Revenue 183.78 293.47 338.77
• BRLM : Unistone Capital Profit After Tax 30.59 27.35 29.03
• Registrar : Link Intime India Private Ltd EPS 10.83 9.52 8.91
• Company Management : Shantilal Shivji Vora and RONW (%) 34.54 38.48 28.86
Dhanvallabh Ventures LLP (DVL)
• Market Cap : Rs. 608.30 Cr. • Pre Issue Promoter Holding : 100% • Post Issue holding : 74.94%
• Issue constitutes 25.06% of the post issue paid up capital
• Average of last 3 Yrs. EPS Rs. 9.43 & RONW : 33.01%
• Pre IPO Eq. Capital Rs. : 32.56 Cr. • Post IPO Eq. Capital Rs. 43.45 Cr.
• Pre IPO : P/BV Ratio 4.54 (NAV : 30.86) • Post Issue : P/BV Ratio : 2.41 (NAV : 58.22)
• Pre IPO P/E Ratio : 15.71 • Post IPO asking P/E on fully diluted equity : 20.80
• Industry peer Group PE Ratio : 39.46
• BRLM’s Performance : This is 13th Issue from BRLM in last 3 years. In last 12 Listing : 11 Issued opened with
premium & 1 Issue Discount.
OTHER SIDE OF THE COIN
• The average cost of acquisition of shares by the promoters of the company is Rs.12.56 and Rs.22.73 per share.
While the offer price is Rs.140.
• It has also issued bonus shares in the ratio of 1:10 in March 2022 and 1:1 in February 2023 before filing DRHP.
• Apart from initial equity capital at par, the company issued additional equity capital during Feb.2023 at a price of
Rs.89.30 per share.
• Company currently operates from one Manufacturing Unit which is located Palghar, Maharashtra.
• The company is based on single products Paracetamol.
• It has limited number of suppliers for raw materials.
• Intense competition prevails in the specialty chemicals industry.
Recommendation : - The Company has registered a strong growth in the top line in the last
three years. It has shown a setback in the bottom line of FY22 and FY23. On the valuation
front, considering P/BV 2.41 and PE of 20.80, the offer price of the issue seems reasonable
compared to Granules India, but it can be called fully priced compared to the average PE 39.46
of the peer companies in this sector. Investors may apply for long term prospective.
Financial Weekly TM

1st October 2023 to 7th October 2023 65

Plaza Wires Main Line IPO
Opened on 29th Sept. & Closes on 4th Oct. ; Price Band Rs. 51 to 54
The company showed steady growth in the top-bottom line during the last three fiscal
Retailer allotment only 10 percent: IPO will be listed in group
On Valuation front considering all parameters, issue appears fully priced
Looking at expansion plans, cables, fancy in green stocks
Investors may apply for medium to long term in this issue
Incorporated in 2006, Plaza Wires Limited is engaged in the business of manufacturing and selling wires, and selling
and marketing LT aluminium cables and fastmoving electrical goods (FMEG) under its flagship brand "PLAZA CABLES"
and home brands such as "Action Wires" and "PCG". The company also provides other wires and cable products such
as LT power control cables, TV dish antenna co-axial cables, telephone & switchboard industrial cables, computer &
LAN networking cables, close circuit television cables and solar cables, PVC insulated tape, and PVC conduit pipe &
accessories, through third-party manufacturers.
Issue Details
• Issue Opens on 29th Sept. & Closes on 4rd Oct. 2023
• Object of the issue Funding the capital expenditure towards setting up a new manufacturing unit for house wires, fire-
resistant wires & cables, aluminum cables, and solar cables to expand the product portfolio., Funding the working
capital requirements.
• Issue Size : 1,32,00,158 Shares ; Rs. 71.28 Cr. Financial Performance : Consolidated Basis
• Face Value Rs. 10 • Offer price Rs. 51 to 54 Particulars (Rs. Cr.) FY21 FY22 FY23
• Minumum Lot Size : 277 Share • Listing on : NSE & BSE Total Revenue 145.60 176.94 182.60
• BRLM : Pantomath Capital Advisors Pvt Ltd Profit After Tax 4.24 5.95 7.51
• Registrar : Kfin Technologies Limited EPS 1.39 1.95 2.46
• Company Management : Mr. Sanjay Gupta and Mrs. Sonia Gupta RONW (%) 10.75 13.08 14.16
• Market Cap : Rs. 236.26 Cr.
• Pre Issue Promoter Holding : 100% • Post Issue holding : 69.83%
• Issue constitutes 30.17% of the post issue paid up capital
• Average of last 3 Yrs. EPS Rs. 2.11 & RONW : 13.23%
• Pre IPO Eq. Capital Rs. : 30.55 Cr. • Post IPO Eq. Capital Rs.43.75 Cr.
• Pre IPO : P/BV Ratio 3.10 (NAV : 17.37)
• Post Issue : P/BV Ratio : 1.90 (NAV : 28.42)
• Pre IPO P/E Ratio : 21.95 ; • Post IPO asking P/E on fully diluted equity : 31.46
• Industry peer Group PE Ratio : 24.43
• BRLM’s Performance : This is 7th Issue from BRLM in last 3 years. In last 7 Listing : 7 Issued opened with premium.

OTHER SIDE OF THE COIN

• The average cost of acquisition of equity shares by the promoters is Rs.8.40 and Rs.38.32 per share. While the offer
price is Rs.54.
• The company had issued bonus shares in the ratio of 7:1 in March 2022.
• Apart from initially equity capital at par, the company issued further equity shares in the price range of Rs. 50 to 60
between November 2007 to March 2016
• Retail investors are only 10 percent allotment.
• IPO will be listed in "T" group.
• A group company of the company is engaged in the same business.
• Company requires substantial amount of working capital.
• Manufacturing facilities are in Single region - Himachal Pradesh.
• This segment is competitive
• Company experienced negative cash flow in the past
• Annual production volume has remained flat at 9.5 lakh coils since 2021.
Recommendation : - The Company has recorded steady growth in top-bottom lines in the
last three Fiscal. On the valuation front, the issue appears to be fully priced considering P/
BV of 1.71 and P/E of 31.46., EBITDA & PAT margins, ROE & ROCE are low compared to
peers like Ultracab (India) * V-Marc. Looking at company's expansion plans and Fancy in
Cables & FMEG segment stocks, Investors may apply for mid to long term.
Financial Weekly TM

1st October 2023 to 7th October 2023 66

E Factor Experiences Limited NSE SME IPO
Opens on 27th Sept. & Closes on 3rd Oct. ; Offer Price Rs. 71 to 75
Company posted steady growth in top-bottom line in the last 3 Fiscal
Its equity capital is full of 5 bonus issue: EBITDA & PAT Margins are low compared to peers
On the valuation front, issue appears fully priced: may apply for short to midterm rewards

Incorporated in 2003, E Factor Experiences Limited is an Indian event management company. The company is
engaged in providing event experiences, event services, technology-based permanent & semi-permanent multimedia
light & sound installations and specialized turnkey event assignments, wedding management, and private and social
event solutions. E Factor Experiences Limited has managed events like Eco Retreat, Odisha, DotFest, Bhubaneswar,
Laser Show & Fireworks at Deepotsav, Kashi Balloon & Boat Race, Baba Saheb - The Grand Musical show on life &
teaching of Baba Saheb Ambedkar and many more.
Issue Details : Issue Opened on 27th Sept. & Closes on 3rd October 2023
• Object of the issue : Investment in Subsidiary, Working Capital requirements, Repayment and/or pre-payment, in full
or part, of certain borrowings availed by the Company
• Size : 34,56,000 Shares, Rs. 25.92 Cr. Financial Performance
• FV Rs. 10 • Offer price Rs. 71 to 75 Particulars (Rs. Cr.) FY21 FY22 FY23
• Minumum Lot Size : 1600 Share Total Revenue 9.91 57.00 119.45
• Listing on : NSE SME Profit After Tax 1.23 2.53 7.61
• BRLM : Hem Securities Limited EPS 1.28 2.65 7.82
• Registrar : Maashitla Securities PVT Ltd. RONW (%) 127.26 72.49 68.35
• Promoter : Jai Thakore, Samit Garg,
Aruna Garg and Manika Garg
• Market Cap Rs. 98.16
• Pre Issue Promoter Holding : 99.99%
• Post Issue Promoter Holding : 73.59%
• Issue constitutes 26.41% of the post issue paid up capital
• Average of last 3 Yrs. EPS Rs. 5.00 & RONW : 79.55%
• Pre IPO Eq. Capital Rs. : 9.63 Cr.
• Post IPO Eq. Capital Rs. 13.09 Cr.
• Pre IPO : P/BV Ratio 6.55 (NAV : 11.44)
• Post Issue P/BV Ratio 2.66 (NAV : 28.22)
• Pre IPO P/E Ratio : 9.59 • Post IPO asking P/E on fully diluted equity : 12.95
• Industry peer Group PE Ratio : 15.06
• BRLM’s Performance : This is 31st Issue from BRLM in last 3 years. In last 10 Listing : 10 Issued opened with
premium.

OTHER SIDE OF THE COIN

• The average cost of acquisition of equity shares by the promoter is NIL & Rs. 0.08 per share. The offer price is Rs.75
per share.
• The company had issued bonus shares in the ratio of 9:1 in March 2006, 3:1 in March 2008, 3:1 in March 2012, 22:21
in October 2018, and 9:5 in March 2023.
• Most of its equity capital is created through five bonus issues.
• Business is subject to occasional / Seasonal
• Dependent on government authority for business and events.
• The company operates in Odisha, Delhi, Madhya Pradesh and UP.
• The subsidiary company has shown losses in the past.
Recommendation : - The Company has recorded strong growth in top-bottom lines in the
last three Fiscal. However the company's earnings and net profit margins are very low com-
pared to its competitors. On the valuation front, the issue appears to be fully priced consid-
ering P/BV 2.66 and PE of 12.95. Looking at established track record and one stop solutions
investors may apply for short to midterm rewards.
Financial Weekly TM

1st October 2023 to 7th October 2023 67

Vinyas Innovative Technologies NSE SME IPO
Opened on 27th Sept. & Closes on 3rd Oct. ; Offer Price Rs. 162 to 165
It has posted growth in top line for reported period but setback in bottom line for FY22
A sudden six-fold jump in the bottom line of FY23 is unlikely to sustain
Issue appears to be fully priced on valuation front: may apply for long term
Incorporated in 2001, Vinyas Innovative Technologies Limited provides design, engineering, and elec-
tronics manufacturing services catering to global Original Equipment Manufacturers and Original Design
Manufacturers in Electronic Industry. The company offers Build to Print (B2P) and Build to Specification
(B2S) services to the clients. Vinyas' solutions primarily comprise: (i) printed circuit board (PCB) assembly
(PCBA), and (ii) box builds which are used in safety-critical systems such as cockpits, in-flight systems,
landing systems, and medical diagnostic equipment.
Issue Details :- Issue Opened on 27th Sept. & Closes on 3rd October 2023
• Object of the issue : Working Capital requirements of the company., General Corporate Purposes., To
meet Issue Expenses. Financial Performance
• Issue : 33,12,800 Shares, Rs. 54.66 Cr. Particulars (Rs. Cr.) FY21 FY22 FY23
• FV Rs. 10 • Offer price Rs. 162 to 165 Total Revenue 207.81 212.63 238.85
• Minumum Lot Size : 800 Share Profit After Tax 1.23 1.01 7.34
EPS 3.29 2.70 19.62
• Listing on : NSE SME • BRLM : Sarthi Cap.
RONW (%) 4.01 3.21 16.13
• Registrar : Skyline Financial Services
• Promoter : Mr. Narendra Narayanan, Mrs. Meera Narendra, Mr. Narendra Sumukh
• Market Cap Rs. 207.65
• Pre Issue Promoter Holding : 39.87%
• Post Issue Promoter Holding : 29.37%
• Issue constitutes 26.32% of the post issue paid up capital
• Average of last 3 Yrs. EPS Rs. 11.26 & RONW : 9.80%
• Pre IPO Eq. Capital Rs. : 9.27 Cr. • Post IPO Eq. Capital Rs. 12.58 Cr.
• Pre IPO : P/BV Ratio 1.36 (NAV : 121.67)
• Pre IPO P/E Ratio : 8.40 • Post IPO asking P/E on fully diluted equity : 28.40
• BRLM’s Performance : This is 7th Issue from BRLM in last 2 years. In last 5 Listing : 4 Issued opened with
premium & 1 Issue at Discount.
OTHER SIDE OF THE COIN
• The average cost of acquisition of equity shares by the promoters is Rs.0.21 and Rs.19.02 per share.
While the offer price is Rs.165
• The company had issued bonus shares in the ratio of 2:1 in February 2008, 1:1 in March 2009, 1:1 in
February 2010, 1:1 in July 2010, and 1:1 in July 2023.
• Apart from initially equity capital at par the company issued additional equity capital between September
2014 and May 2023 at a price range of Rs.106-Rs.280.60 respectively.
• The Company is dependent on a single customer for its operating income.
• The company has failed to make timely payments against its credit facility.
• The company's revenue depends on defense and aerospace contracts.
• The company requires substantial working capital.
• Late filing of company statutory returns and fees.
Recommendation : - The Company has shown steady growth in top line in the last three
fiscal. A setback has been recorded in the bottom line of FY22. However a sudden six-fold
jump in FY23 bottom line seems surprising and difficult to sustain. On the valuation front,
the issue appears to be fully priced despite Super earnings for FY23. High net worth inves-
tors may apply for long term prospective.
Financial Weekly TM

1st October 2023 to 7th October 2023 68

Oneclick Logistics India Limited NSE SME IPO
Opened on 27th Sept. & Closes on 3rd Oct. ; Offer Price Rs. 99
It has posted consistent growth as partnership firm
The company became a public limited with 108 days of working
On the valuation front, the issue appears to be fully priced considering all the parameters
Investors may apply for short to mid-term or listing gain in this issue
Incorporated in 2017, Oneclick Logistics India Limited is an integrated logistics services and solutions
provider. The company's service list can be broadly categorized as: Non-vessel operating common carrier
(NVOCC)., Ocean and air freight forwarding (Freight Forwarding)., Bulk cargo handling (Bulk Cargo), Cus-
tom clearance. The company's clientele comes from India, China, Europe, Singapore and Malaysia. The
company operates in all major ports in India as well as private ports such as Nhava Sheva, Mundra, Delhi
ICD, Pipavav, Chennai, and ICD Ahmedabad.
Issue Details
• Issue Opened on 27th Sept. & Closes on 3rd Oct. 2023
• Object of the issue : Meeting incremental working capital requirements,
• Size : 10,00,800 Shares, Rs. 9.91 Cr. Financial Performance : Consolidated Basis
• Face Value Rs. 10 • Offer price Rs. 99 Particulars (Rs. Cr.) FY20 FY21 FY22 10Feb23 FY23
• Minimum Lot Size : 1200 Share Total Revenue 11.97 13.33 35.21 29.42 4.16
• Listing on : NSE SME Profit After Tax 0.33 1.02 1.30 0.99 0.19
• BRLM : Fedex Securities Pvt Ltd EPS (Financial data as per Partnership Firm) 95.09
RONW (%) -- - - - 4.07
• Registrar : Bigshare Services Pvt Ltd
• Promoter : Mr. Rajan Shivram Mote and Mr. Mahesh Liladhar Bhanushali
• Market Cap Rs. 35.68 Cr.
• Pre Issue Promoter Holding : 93.00% • Post Issue Promoter Holding : 67.17%
• Issue constitutes 27.77% of the post issue paid up capital
• Average of last 3 Yrs. EPS Rs. 4.08 & RONW : 95.9%
• Pre IPO Eq. Capital Rs. : 2.60 Cr. • Post IPO Eq. Capital Rs. 3.60 Cr.
• Pre IPO : P/BV Ratio 23.13 (NAV : 4.28) • Post Issue : P/BV Ratio 3.01 (NAV : 32.85)
• Pre IPO P/E Ratio : 24.30 • Post IPO asking P/E on fully diluted Equity : 53.70
• Industry peer Group PE Ratio : 15.16
• BRLM’s Performance : This is 19th Issue from BRLM in last 4 years. In last 10 Listing : 7 Issued opened
with premium & 2 Issue with Discount and 1 with at par.
OTHER SIDE OF THE COIN
• The average cost of acquisition of equity shares by the promoters is Rs.9.98 and Rs.10 per share. The
offer price is fixed at Rs.99.
• Company had issued bonus shares in the ratio of 465:10 in April 23 before filing the return.
• Apart from initially issuing a nominal equity capital, The Company issued additional equity capital in April-
2023 at a price of Rs.580 per share.
It is a public limited company; it has shown only 108 days of non-performance.
• The equity capital of the company is only Rs.3.60 crore. So it may take a long time for the company to
migrate to the main board.
Recommendation :- The company has posted two difference financial data one as a partnership
firm for limited company, as a partnership firm it has reported consistent growth in top lines and
bottom line for the FY20, FY21 & FY22 and for the period ended February 10, 2023. The company
was formed on December 14, 2023 in other words 108 days working. If we annualized FY23 working
issue is priced P/BV of 3.01 and PE of 53.70. On Valuation front issue appears fully priced. Investors
may apply for short to mid-term or listing gain in this issue
Financial Weekly TM

1st October 2023 to 7th October 2023 69

Canarys Automations Limited NSE SME IPO
Opened on 27th Sept. & Closes on 3rd Oct. ; Offer Price Rs. 29 to 31
This is a profit making and dividend paying company since 2021
The company has registered strong growth in the last 3 financial years
Most of the equity capital of the company is created through bonus issue
The FV of the share is Rs.2 if it is converted to Rs.10 then the offer price goes from Rs.145 to 155
On the valuation front, the offer appears to be fully priced: can be applied for mid-term rewards
Incorporated in 1991, Canarys Automations Limited provides IT solutions in the space of Digitalization,
Modernization, Automation, and Intelligence. The company has two business verticals :- Technology solu-
tions, Water Resource Management Solution The company has provided business applications to over
1000 customers. Besides India, the company has serviced customers from more than 10 countries.
Issue Details :- Issue Opened on 27th Sept. & Closes on 3rd October 2023
• Object of the issue : Funding of expenditure relating to solutions development for digital transformation and
water resources management solutions, Creation of a new delivery center including infrastructure.
• Size : 1,51,72,000 Shares, Rs. 47.03 Cr.
• Face Value Rs. 2 • Offer price Rs. 29 to 31
• Minimum Lot Size : 4000 Share
• Listing on : NSE SME • BRLM : Indorient
• Registrar : Link Intime India Private Ltd
• Promoter : Mr. Metikurke Ramaswamy Raman Subbarao, Mr. Danavadi Krishnamurthy, Mr. Raghu
Chandrashekhariah, Mr. Sheshadri Yedavanahalli, Mr. Pushparaj Shetty
• Market Cap Rs. 174.17 Cr. Financial Performance
Particulars (Rs. Cr.) FY21 FY22 FY23
• Pre Issue Promoter Holding : 77.49%
Total Revenue 25.78 52.00 75.47
• Issue constitutes 27% of the post issue paid up capital Profit After Tax 2.10 4.56 8.53
• Average of last 3 Yrs. EPS Rs. 2.85 & RONW : 26.44 % EPS 1.16 2.08 3.92
• Pre IPO Eq. Capital Rs. : 8.20 Cr. RONW (%) 16.06 23.99 31.54
• Post IPO Eq. Capital Rs. 11.24 Cr.
• Pre IPO : P/BV Ratio 2.49 (NAV : 12.44)
• Pre IPO P/E Ratio : 7.91 • Post IPO asking P/E on fully diluted equity : 20.60
• Industry peer Group PE Ratio : 30.24
• BRLM’s Performance : This is 5th Issue from BRLM in last 3 years. In last 2 Listing : 1 Issued opened
premium & 1 Discount.
OTHER SIDE OF THE COIN
• The average cost of acquisition of the equity share by the promoters of the company is Rs.0.47, 0.48,
0.73, 1.30 and Rs.1.50 per share. While the offer price is Rs.31.
• Company Issued bonus shares in the ratio of 2:1 in June 2000, 3:5 in November 2005, 1:1 in March-2022
and 1:1 in June 2023.
• Apart from initially equity shares capital at par the company issued further equity shares in the ratio of
Rs.3.20 to Rs.25 per share between January 2004 to July 2023.
• The face value of equity share is Rs. 2, If it is converted to Rs.10 then the issue offer price goes from
Rs.145 to Rs.155.
• Most of the equity capital of the company is created through four bonus issues.
Recommendation : - This is a profit making and dividend paying company. The company has
registered strong growth in the last three years. On the valuation front, the issue appears to be fully
priced considering P/BV of 2.5 and PE of 20.60. Investors may apply for mid-term to long-term
rewards in this issue.
Financial Weekly TM

1st October 2023 to 7th October 2023 70

Vivaa Tradecom Limited BSE SME IPO
Opened on 27th Sept. & Closes on 4th Oct. ; Offer Price Rs. 51
Company has posted inconsistent financial performance in all three fiscals
Turnaround in FY22 from loss of FY21 and setback in bottom lines for FY23
On valuation front issue is exorbitantly priced
Company operates in highly competitive and fragmented market so
Investors may clearly avoid this very expensive IPO
Incorporated in 2010, Vivaa Tradecom Limited is engaged in the manufacturing as well as trading of
clothes and garments. The company's product list includes Denim Fabric, readymade garments such as
Denim/Cotton Jeans for Men, Denim/Cotton Jeans for Women, and also undertake the Cotton Printing Job
work and trade in Printed Cotton Fabric. Vivaa Tradecom's clientele includes Lifestyle International Pvt. Ltd.,
Aditya Birla Fashion and Retail Ltd., Lajja Polyfab Pvt. Ltd., Nandan Denim Limited, Bajaj Impex, Reliance
Retail Limited, and so on.
Issue Details
• Issue Opened on 27th Sept. & Closes on 4rd October 2023
• Object of the issue : Working capital requirement., General Corporate Purpose., Meeting Public Issue Ex-
penses. Financial Performance
• Size : 15,66,000 Shares, Rs. 7.99 Cr. Particulars (Rs. Cr.) FY21 FY22 FY23
• Face Value Rs. 10 • Offer price Rs. 51 Total Revenue 147.35 247.29 134.03
• Minumum Lot Size : 2000 Share Profit After Tax -(0.07) 0.44 0.26
• Listing on : BSE SME EPS -(0.28) 1.89 1.07
• BRLM : Interactive Financial Services Ltd RONW (%) 0.58 3.82 2.1
• Registrar : Bigshare Services Pvt Ltd
• Promoter : Mr. Mitesh Adani.
• Market Cap Rs. 20.08 Cr.
• Pre Issue Promoter Holding : 50% • Post Issue Promoter Holding : 30.11%
• Issue constitutes 39.77% of the post issue paid up capital
• Average of last 3 Yrs. EPS Rs. 1.12 & RONW : 2.10%
• Pre IPO Eq. Capital Rs. : 2.37 Cr. • Post IPO Eq. Capital Rs. 3.94 Cr.
• Pre IPO : P/BV Ratio 1.00 (NAV : 51.09 ) • Post IPO P/BV Ratio : 1.00 (NAV : 51.06)
• Pre IPO P/E Ratio : 47.66 • Post IPO asking P/E on fully diluted equity : 78.46
• Industry peer Group PE Ratio : 42.45
• BRLM’s Performance : This is 12th Issue from BRLM in last 3 years. In last 10 Listing : 6 Issued opened with
premium & 2 Issue with discount and 2 Issue with at par.
OTHER SIDE OF THE COIN
• Average cost of acquisition by promoters is Rs. 10.77 per share and the issue price is Rs.51 per share.
• Company has further Issued Equity shares in range of Rs. 100 - Rs. 3766 per share in February 2020 and
November 2022.
• Company has also issued bonus shares in ratio of 50:1 in December 2022.
• Company has just 4 employees on payroll and its operations are limited to Gujarat.
• Assets, reserves, and surplus all have gone down in FY23 compared to FY22 and FY21.
• Company's business is limited business is limited to trading of textile and readymade fabrics it does not
manufacture anything.
• Company operates in highly competitive and fragmented market.
Recommendation :- Company has posted inconsistent financial performance in all three fiscals
with sudden turnaround in FY22 from FY21 and again falls in bottom line for FY23. On valuation
front considering post IPO P/E of 78.46 and P/Bv of 1.0 on NAV of 51.06 issue is exorbitantly
priced. Company's operations are in highly competitive and fragmented market and consider-
ing inconsistent financial performance investors may clearly avoid this very expensive IPO.
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Vishnusurya Projects and Infra NSE SME IPO
Opened on 29th Sept. & Closes on 4th Oct. ; Offer Price Rs. 68
Company has reported consistent growth in its Top lines but
There is a setback in Bottom lines of FY23 as compared to FY22
On valuation front issue looks fairly priced.
Considering orders worth Rs. 162cr. and fancy in infrastructure sector
Investors may apply in this IPO for midterm period
Incorporated in 1996, Vishnusurya Projects and Infra Limited is engaged in the mining of rough stones and
manufacturing of aggregates and manufacture-sand by using Crushing Plants and Sand washing plants. The
company has been accredited as a Class I contractor with various departments and agencies viz. (1) Greater
Chennai Corporation (GCC), (2) Government of Tamil Nadu Water Resources Department, (3) Tamil Nadu
Water Supply and Drainage Board, and (4) Highways Departments pursuant to which the company is eligible
to participate and undertake projects awarded by various other departments and agencies.
Issue Details : Issue Opened on 29th Sept. & Closes on 4rd October 2023
• Object : Funding of working capital requirements of the Company., Repayment / Prepayment, in part or full,
of certain outstanding borrowings availed by the Company.,
• Size : 73,50,000 Shares, Rs. 49.98 Cr. Financial Performance
Particulars (Rs. Cr.) FY21 FY22 FY23
• Face Value Rs. 10 • Offer price Rs. 68
Total Revenue 63.39 96.04 133.26
• Minumum Lot Size : 2000 Share Profit After Tax 2.29 21.59 17.37
• Listing on : NSE SME EPS 12.62 24.95 25.30
• BRLM : Khandwala Securities RONW (%) 11.20 18.98 27.86
• Registrar : Cameo Corporate Services
• Promoter : Bhavani Jayaprakash
• Market Cap Rs. 167.35 Cr.
• Pre Issue Promoter Holding : 88.74% • Post Issue Promoter Holding : 62.24%
• Issue constitutes 29.87% of the post issue paid up capital
• Average of last 3 Yrs. EPS Rs. 23.07 & RONW : 22.12%
• Pre IPO Eq. Capital Rs. : 17.26 Cr. • Post IPO Eq. Capital Rs. 24.61 Cr.
• Pre IPO : P/BV Ratio 1.04 (NAV : 65.53) • Post IPO asking P/E on fully diluted equity : 9.63
• BRLM’s Performance : This is 1st Issue from BRLM in last 3 years.
OTHER SIDE OF THE COIN
• Average cost of acquisition by promoters is Rs.3.04.
• Company has further Issued Equity shares in range of Rs. 15 - Rs. 80 in August 2011 and October 2022.
• Company has also issued bonus shares in ratio of 9:10 in July 2023.
• Company reported other income of Rs. 14.87 cr. for FY22 and Rs. 21.53 cr. for FY23 attributed to the sale
of land, assets, and inventory.
• Company's registered office is on lease basis and even the logo is not registered.
• There is more outstanding litigation against the company as well as the group companies.
• Company's majority of business is generated from Tamil Nadu.
• Working in highly capital intensive and faces competitor from listed and unlisted players.
Recommendation :- Company has posted growth in financial performance in top lines in
all three fiscals but there is a setback in bottom lines in FY23 as compared to FY22. On
valuation front considering post IPO P/E of 9.63 which is below industry average of 43.25
and P/BV of 1.53 on NAV of 44.50 issues is fairly priced. Considering the boost to infrastruc-
ture sector in India and orders worth Rs. 162 cr., company is well poised to witness growth
in coming years so investors can apply in this IPO for mid-term perspective.
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Sharp Chucks And Machines Limited NSE SME IPO
Opened on 29th Sept. & Closes on 4th Oct. ; Offer Price Rs. 58
Company has reported consistent growth in its Top and Bottom lines in all three fiscals
On valuation front issue looks reasonably priced
Investors may apply for midterm rewards.
Incorporated in 1994, Sharp Chucks and Machines Limited is engaged in the manufacturing of forging
and graded casting machined components of tractors and other automobiles, as well as power chucks,
lathe chucks, drill chucks, and other machine tool accessories for tractors, automobiles, material handling
& earth moving equipment, railways, defense, machine tools, the DIY industry, and so on.
The company's product portfolio includes: Forging products, Casting products, Machine compo-
nents, The company has two manufacturing units located in Jalandhar consisting of three foundries having
an installed capacity of 30000 MTPA and Machining facilities consisting of VMC, CNC, and other machin-
ery having an installed capacity of 14400 MTPA, and one forging unit consisting of hammers, billiard heat-
ers, etc. having installed capacity of 3600 MTPA.
Issue Details :- Issue Opened on 29th Sept. & Closes on 4rd October 2023
• Object of the issue : yiorking capital requirements & General Purpose
• Size : 29,04,000 Shares, Rs. 5.66 Cr.
Financial Performance
• Face Value Rs. 10 • Offer price Rs. 58 Particulars (Rs. Cr.) FY21 FY22 FY23
• Minumum Lot Size : 2000 Share Total Revenue 135.83 152.52 179.31
• Listing on : NSE SME Profit After Tax 3.31 4.53 5.07
• BRLM : Fedex Securities Pvt Ltd EPS 3.38 4.63 5.18
• Registrar : Skyline Financial Services RONW (%) 7.74 9.57 9.68
• Promoter : Mr. Ajay Sikka, Ms. Gopika Sikka
• Market Cap Rs. 62.41 Cr.
• Pre Issue Promoter Holding : 80.28% • Post Issue Promoter Holding : 73.00%
• Issue constitutes 26.99% of the post issue paid up capital
• Average of last 3 Yrs. EPS Rs. 4.69 & RONW : 9.32%
• Pre IPO Eq. Capital Rs. : 9.78 Cr. • Post IPO Eq. Capital Rs. 10.76 Cr.
• Pre IPO : P/BV Ratio 1.08 (NAV : 53.50) • Post Issue P/BV Ratio 1.08 (NAV : 53.91)
• Post IPO asking P/E on fully diluted equity : 12.31
• BRLM’s Performance : This is 20th Issue from BRLM in last 4 years. In last 10 Listing : 8 Issued opened
with premium & 2 Issue Opened with Discount & 1 Issue at par.
OTHER SIDE OF THE COIN
• The average cost of equity shares acquisition by promoters is Rs. 9.99 and Rs. 7.94 and by selling
shareholders is 38.89 while the issue price is Rs. 58.
• Company has further Issued Equity shares at a price of Rs. 38.89 in July 2014 and August 2014.
• Company has also issued bonus shares in ratio of 1:1 in March 2012.
• There is minor drop in PAT and EBITDA margins in FY23 as compared to FY22.
• Company's top 5 customers contributed up to 73.78 %, 65.58 %, and 68.55 %, for Fiscals 2023, 2022
and 2021, respectively.
• Company's business is heavily dependent on the performance of the automobile sector particularly,
tractors market and commercial vehicles in India.
Recommendation :- Company has posted constant growth in financial performance in all
three fiscals. On valuation front considering post IPO P/E of 12.31 which is in line with the
industry average of 27.58 and P/BV of 1.08 on NAV of 53.91 issues is reasonably priced.
Considering the growth in automotive industry of India in coming year's investors may ap-
ply for mid-term rewards.
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1st October 2023 to 7th October 2023 73

Plada Infotech Services Limited NSE SME IPO
Opened on 29th Sept. & Closes on 4th Oct. ; Offer Price Rs. 48
Company has posted good financial performance in last three fiscals
Sudden jump in bottom line of FY23 is surprising
On valuation front issue looks fully priced, Investors may apply for long term period
Incorporated in 2010, Plada Infotech Services Limited specializes in delivering comprehensive Business
Process Outsourcing (BPO) services tailored to our clients' specific needs.
The company provides a wide range of services ranging from recruitment & payroll management, mer-
chant acquisition, field support, software solutions, seller onboarding, and account management to clients.
Issue Details
• Issue Opened on 29th Sept. & Closes on 4rd October 2023
• Object of the issue : To meet the working capital requirements., To purchase Laptops and Accessories for IT
Development., Repayment and/or prepayment in part or in full, of certain outstanding loans of the Company.,
General Corporate Purposes.,
• Size : 25,74,000 Shares, Rs. 12.36 Cr.
Financial Performance
Particulars (Rs. Cr.) FY21 FY22 FY23
• Face Value Rs. 10 • Offer price Rs. 48 Total Revenue 44.61 48.87 62.75
• Minumum Lot Size : 2000 Share • Listing on : NSE SME Profit After Tax 0.67 1.10 2.34
• BRLM : Indorient Financial Services Ltd EPS 1.10 1.83 3.90
• Registrar : Bigshare Services Pvt Ltd RONW (%) 16.12 21.17 31.07

• Promoter : Mr. Shailesh Kumar Damani and Mr. Anil Mahendra Kotak
• Market Cap Rs. 41.16
• Pre Issue Promoter Holding : 89.50%
• Post Issue Promoter Holding : 62.64%
• Issue constitutes 30.03% of the post issue paid up capital
• Average of last 3 Yrs. EPS Rs. 2.74 & RONW : 25.28%
• Pre IPO Eq. Capital Rs. : 6.00 Cr. • Post IPO Eq. Capital Rs. 8.57 Cr.
• Pre IPO : P/BV Ratio 3.82 (NAV : 12.55)
• Post IPO asking P/E on fully diluted equity : 17.58
• BRLM’s Performance : This is 6th Issue from BRLM in last 3 years. In last 2 Listing : 1 Issued opened with
premium & 1 Issue with discount.

OTHER SIDE OF THE COIN

• Average cost of acquisition by promoters is Rs.0.02 per share and the issue price is Rs.48 per share.
• Company has also issued bonus shares in ratio of 19:1 in March 2022, 9:1 in June 2022 and 2:1 in April
2023.
• Company's registered office is on lease basis.
• Company's top five enterprise customers together represented 88%, 91%, and 89% of its revenue from
operations for the financial year ended March 31, 2023, March 31, 2022, and March 31, 2021 respec-
tively.
• Company operates in highly competitive market with very low entry barrier and scarcity of manpower
within budget is faced.
Recommendation :- Company has posted constant steady growth in in top lines in all three fiscals
with a sudden jump in bottom lines of Fy23 which is surprising. On valuation front considering post
IPO P/E of 17.58 which is almost in line with its peers and Pre-IPO P/Bv of 3.82 on NAV of 12.55
issue is fully priced. Company operates in highly competitive market but considering the current
growth in Business Process Outsourcing industry and company's Pan India presence investors
can apply for long-term term period.
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1st October 2023 to 7th October 2023 74

Karnika Industries Limited NSE SME IPO
Opened on 29th Sept. & Closes on 4th Oct.
Offer Price Rs. 76 ; Listing on NSE SME Platform
Karnika Industries Limited SME IPO
Company has posted good financial performance in all three fiscals
Sudden jump in Bottom lines of FY22 and FY23 raises eyebrows
Considering company's business of trading and
Marketing of kid's wear which is highly competitive market
Only risk taking investors may apply for long term period
Incorporated in 2017, Karnika Industries Limited, previously known as Karni International, manufactures and exports
garments in India. Karnika Industries manufactures all types of kids' wear i.e., shorts, joggers, capri, tees, rompers,
sleepsuits, pajamas, winter wear, infant wear, etc. The company has well-established manufacturing units for designing,
preparing the sample, quality inspection, ironing, and packing of Garments that are equipped with all the necessary hi-
tech machines and tools that are required for a modern manufacturing unit.
Issue Details
• Issue Opened on 29th Sept. & Closes on 4rd October 2023
• Object of the issue : To Meet Working Capital Requirement., General Corporate Purpose., Issue Expenses.
• Issue Size : 32,99,200 Shares, Rs. 25.07 Cr.
• Face Value Rs. 10 • Offer price Rs. 76
Financial Performance
Particulars (Rs. Cr.) FY21 FY22 FY23
• Minumum Lot Size : 1600 Share • Listing on : NSE SME
Total Revenue 47.79 98.93 132.44
• BRLM : Beeline Capital Advisors Pvt Ltd
Profit After Tax 0.82 4.54 8.52
• Registrar : Skyline Financial Services Private Ltd
EPS 1.17 6.49 --
• Promoter : Mr. Niranjan Mundhra, Mr. Shiv Shankar Mundhra, and
RONW (%) 21.58 24.40 --
Mr. Mahesh Kumar Mundhr
• Market Cap Rs. 94.24 Cr.
• Pre Issue Promoter Holding : 100% • Post Issue Promoter Holding : 73.39%
• Issue constitutes 26.61% of the post issue paid up capital
• Average of last 3 Yrs. EPS Rs. 9.66 & RONW : 45.76%
• Pre IPO Eq. Capital Rs. : 9.10 Cr. • Post IPO Eq. Capital Rs.12.40 Cr.
• Pre IPO : P/BV Ratio 1.04 (NAV : 19.85) • Post Issue P/BV Ratio : 1.53 (NAV : 44.50)
• Pre IPO P/E Ratio : 7.57 • Post IPO asking P/E on fully diluted equity : 11.06
• Industry peer Group PE Ratio : 10.39
• BRLM’s Performance : This is 22nd Issue from BRLM in last 3 years. In last 10 Listing : 9 Issued opened with
premium & 1 Issue at par.
OTHER SIDE OF THE COIN
• Average cost of acquisition by promoters is Rs. 10.77 per share and the issue price is Rs.76 per share.
• Company has further Issued Equity shares at a price of Rs. 60 per share in October 2022.
• Company has issued bonus shares in ratio of 1:1 in December 2022.
• Top 10 customers contributed 54.49%, 61.49% and 62.40% of their revenues for the period ended in 2023, 2022 and
2021 respectively.
• Company's top 10 suppliers contributed approximately 45.09%, 65.93%, 55.93% and 46.99% of their total purchases
for the period ended in 2023, 2022 and 2021 respectively.
• Company is in trading and marketing business of Kid's wear only which has very less market size compared to whole
apparels category.
• Company operates in highly competitive market.
Recommendation :- Company has posted good financial performance in all three fiscals but there
is sudden jump in bottom lines of FY22 and FY23 which is surprising and raising concerns. On
valuation front considering post IPO P/E of 11.06 which is almost in line with industry average of
10.29 and P/Bv of 1.53 on NAV of 44.50 issue is fully priced. Company's business operations include
trading and marketing of kid's wear which is highly competitive market, so considering this only risk
taking investor may apply for long term period.
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1st October 2023 to 7th October 2023 75

Smart Best Buy S. N. Zaveri
Bharti Airtel : Stock up on highest subscribers addition in July
Blue Dart Express : Margin will improve with capacity addition
Dixon Technologies: Stock up on ‘Buy’ call from brokerage
Shriram Finance : Management expects to deliver 15% AUM CAGR
Eicher Motors: Demand recovery in Two-wheeler to benefit
Bharti Airtel (Rs. 924.00) (Code : 532454) :- Bharti Airtel shares were up after
Telecom Regulatory Authority of India’s monthly subscription data for July published showed a net
addition of 15.17 lakh subscribers to the telecom’s services. The expansion comes after TRAI
report for June observed a net addition of 14.1 lakh subscribers. After the July update, the company’s
market share stands at 32.74 percent in the wireless subscribers segment. It's worth noting that
Himachal Pradesh, Karnataka, and Tamil Nadu circles - where Airtel added the highest number of
wireless subscribers in July 2023 - are also Airtel's leadership circles. Mumbai is also inching
closer to the 10 million milestone subscriber mark. The stock made 52-week high of Rs.925 on
15th September and now consolidating neart its pick. Accumulate for another rally.
Blue Dart Express (Rs. 6742.00) (Code : 526612) :- Blue Dart Express Ltd.'s
margin will improve to 13% by the next fiscal due to better capacity utilisation and less disparity
between the prices of Brent crude and aviation turbine fuel, according to Motilal Oswal Financial
Services Ltd. The logistics-solution provider's volumes will see a notable rise due to the upcoming
festive season, improved utilisation of new aircraft, and expansion of the branch network, the bro-
kerage said in a note on Thursday.Motilal Oswal maintains a 'buy' rating, with a target price of Rs
7,840, implying an upside potential of 17%. It anticipates that these factors will enhance margins in
the second quarter. The financial services firm also expects a compound annual growth rate of
15% and 23% for revenue and net profit for fiscal 2023–25. The revenue generated from two addi-
tional aircraft, which was incorporated in the last quarter of fiscal 2023, was only realised during
the last 10 days of the June quarter, Motilal Oswal said. These aircraft additions will augment the
company's capacity by 20%. There can be a significant improvement in capacity utilisation in the
second quarter. Buy.
Dixon Technologies (Rs. 5282.00) (Code : 540699) :- Shares of Dixon Technolo-
gies rallied 4 percent high on September 26 buoyed by high volume trade and a positive brokerage
outlook. A ‘buy’ call on the consumer durable goods maker's stock from DAM Capital seemed to
have contributed to the upward move. Seeing a further upside potential from the current price levels,
the brokerage has set the target price at Rs 6,000 per share. “The company is participating in the
Cont...
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1st October 2023 to 7th October 2023 76

union government’s production linked incentive (PLI) scheme for IT hardware. We also see strong
traction of ramp up in mobile manufacturing. We recommend the company’s stock considering it’s
robust execution capabilities along with investment in digitisation and research and development,”
DAM Capital said. Dixon Technologies is engaged in the business of electronic manufacturing ser-
vices. The company specialises in manufacturing consumer electronics like LED televisions, wash-
ing machines, and mobile phones, as well as lighting products. It also offers solutions in the home
appliances, security, and energy-efficient lighting segments. Buy in phased maner.
Shriram Finance (Rs. 1920.00) (Code : 511218) :- Post-merger entity Shriram
Finance is a multi-product play having synergistic growth spurt at disposal. Its stronger AUM growth
of 4 per cent qoq/18.6 per cent yoy in Q1-FY24 surprised many. In our view, the growth momentum
could likely continue through the year aided by: residual benefits of value growth in used CV/PV
financing (50/19 per cent of AUM); firm replacement demand for used Pvs; phased roll-out of MSME
Loans (10 per cent of AUM) in vehicle financing branches; distribution of Gold Loans (3 per cent of
AUM) taken to substantial number of vehicle financing branches, and sustained momentum in
Personal Loans (4 per cent of AUM). In longer run, the growth levers would be stronger volume
growth in used CV/PV financing, availability/supply of used BS VI vehicles, operational policy
driven emphasis on realisation of cross-sell/distribution synergies, tapping of market outside Shriram
ecosystem customers for erstwhile SCUF products and conversion of rural centers into full-fledged
branches. Management expects to deliver a 15 per cent AUM CAGR over the next three years with
a diversified product portfolio offering growth fungibility. The AUM mix is expected to move mean-
ingfully towards Used PV, MSME and Gold Loans. Accumulate.
Eicher Motors (Rs. 3457.00) (Code : 505200) :- Eicher Motors stock zoomed last
week after global brokerage firm Jefferies raised the target price and made it a preferred pick along
with TVS Motors. Jefferies analysts cited reasons such as alleviating competitive concerns, along
with tailwinds of two-wheeler demand recovery, industry premiumisation and exports for Eicher
Motors' robust growth prospects. The brokerage firm suggests that Royal Enfield (RE) appears
well-placed to benefit from a potential demand recovery in Indian two-wheelers, given its differen-
tiated products and strong franchise. With a 'buy' rating on the stock, Jefferies has raised Eicher
Motors' target price to Rs 4,150, implying an upside potential of 22.5 from the September 25 clos-
ing price. The previous target price was Rs 4,000. Jefferies is valuing RE at 25 times PE (earlier 24
times) and commercial vehicle business at 5.5 times FY25 PB. Buy in phased manner.

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
29th September, 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

1st October 2023 to 7th October 2023 77

Salasar Techno Engineering Ltd ; CMP Rs. 52.2 ; BSE: 540642 NSE : SALASAR
Successfully Installs & Commences Operation of
New Zinc Galvanization Plant of An Annual Capacity Of 96000 Metric Tons
New Delhi, 25th September 2023: Salasar Techno
Engineering Ltd. (STEL) (BSE: 540642, NSE:
Corporate SCAN
SALASAR), a leading player in the engineering, de-
signing, procurement, fabrication, galvanization, and
EPC (Engineering, Procurement, and Construction)
sectors, is thrilled to announce the successful instal-
lation and commissioning of its new Zinc Galvaniza-
tion Plant (GI Plant). This state-of-the- art facility
boasts an annual capacity of 96,000 Metric Tons and
has commenced operations at its Unit - III, located in
Village - Khera P.O. Pilkhuwa, Tehsil- Dhaulana, Distt
- Hapur, Uttar Pradesh, India, with effect from 25th
September, 2023.
The new Zinc Galvanization Plant represents a sig-
nificant milestone in Salasar Techno Engineering

Limited's journey of growth and expansion. With its cutting-edge technology and enhanced capacity, the plant being among
one of the largest in the world, is poised to play a pivotal role in meeting the growing demand for high-quality galvanized
products in various industries, especially for transmission line monopoles & large size structures including infrastructure,
construction, automotive, and more.
Key features of the Zinc Galvanization Plant include:
Enhanced Capacity : With an annual capacity of 96,000 Metric Tons, the GI Plant will significantly boost our
galvanization production capabilities.
Advanced Technology : The plant is equipped with the latest and most advanced galvanization technology to
ensure the highest quality of products.
Environmental Sustainability : Salasar Techno Engineering Limited remains committed to environmental
sustainability, and the new plant adheres to all environmental regulations and standards.
Job Creation : The expansion will create employment opportunities in the region, contributing to local economic
development.
Mr. Shashank Agarwal, Joint Managing Director of Salasar Techno Engineering Limited, expressed his delight at this
achievement, stating, "The successful installation and commissioning of our new Zinc Galvanization Plant is a testa-
ment to our commitment to excellence and innovation. This state- of-the-art facility will empower us to better serve our
clients and meet the ever-growing demand for high-quality galvanized products."
The commissioning of the Zinc Galvanization Plant marks a significant step forward for Salasar Techno Engineering
Limited, as the company continues to expand its portfolio of services and strengthen its position in the industry.
Incorporated in 2006, Salasar Techno Engineering Ltd (STEL) is a provider of customized steel fabrication & infra-
structure solutions in India. It provides 360-degree solutions by carrying out engineering, designing, fabrication, galvani-
zation and deployment. STEL’s product portfolio includes telecommunication towers, power transmission line towers,
smart lighting poles, utility poles, high mast poles, stadium lighting poles, monopoles, substation structures, solar
module mounting structures, railway electrification (OHE), Road & Railway Over-Bridges (ROB) and customised galva-

nized & non-galvanized steel structures. STEL’s services include providing

complete Engineering, Procurement & Control (EPC) for projects such as
rural electrification, power transmission lines and solar power plants. STEL
is among the leading manufacturers with the current installed capacity of
1,15,000 MTPA having supplied, 50,000+ Telecom Towers, 702 km of Power
Transmission Lines, 588 km Railway Track, to 600+ clients in 25+ Coun-
tries.

***
Financial Weekly TM

1st October 2023 to 7th October 2023 78

Dalal Street Whispers Dilip K. Shah

Adani Green (Rs. 988.00) (Code : 541450) :- Abu Dhabi conglomerate Interna-
tional Holding Company (IHC) plans to sell stake in Adani Green Energy and Adani Energy Solu-
tions as part of its portfolio rebalancing strategy. It did not disclose the extent of sale.

Infosys (Rs. 1435.00) (Code : 500209) :- The IT major is collaborating with Microsoft
to jointly develop industry solutions by leveraging Infosys Topaz, Azure OpenAI Service and Azure
Cognitive Services. It has also launched Infosys Cobalt Airline Cloud - a first-of-its-kind industry
cloud offering designed for commercial airlines to help them accelerate their digital transformation
journey.

Eveready (Rs. 1099.00) (508906) :- With a focus on premiumisation, Eveready is

pushing ‘Ultima’ as a sub-brand to power the segment. The newly-launched Ultima Pro alkaline
battery range boasts of up to 800 % longer-lasting claim. The target is high-drain applications such
as toys, video games, smart remotes, wireless keyboards, trimmers, and medical equipments.

Sun Pharma (Rs. 1159.00) (Code : 524715) :- Sur Pharma’s one of the subsidiar-
ies has signed a binding letter of intent to acquire the balance 25 % outstanding shares of its step-
down arm Sun Pharma de Mexico where it currently holds 75 % shares.

Realty Sector :- Home sales in the top seven cities of India reached an all-time high of
120,280 units between July and September. Sales this year were higher by 36 %, when compared
to 88,230 units sold in the same period in 2022.

State Bank of India (SBI) (Rs. 598.00) (Code : 500112) :- SBI pared its stake
in MSP Steel & Power through an open market deal to 2.5 % from 7.3 %.

Emami (Rs. 537.00) (Code : 531162) :- Emami has forayed into the health juice
category with a 26% strategic stake in Axiom Ayurveda, makers of 'AloFrut', for an undisclosed
amount.

Cipla (Rs. 1186.00) (Code : 500087) :- Cipla has launched drone-powered deliver-
ies of critical medicines to hospitals and pharmacies across Himachal Pradesh in partnership with
Skype Air Mobility.

HealthCare Global (Rs. 357.00) (Code : 539787) :- CVC Capital Partners is

exploring selling up to 60.4 per cent stake in Indian cancer hospital chain HealthCare Global En-
terprises. According to reports, CVC’s stake is worth about $345 million.

3i Infotech (Rs. 40.00) (Code : 532628) :- 3i Infotech has secured Rs 39.55 crore
contract from Ujjivan Small Finance Bank for end-user support services for a period of five years.
Cont.....
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1st October 2023 to 7th October 2023 79

IndusInd Bank (Rs. 1428.00) (Code : 532187) :- IndusInd Bank has inked a multi-
year global partnership with the International Cricket Council (ICC) to provide a premium experi-
ence to customers, employees, and cricket fans.

Century Textiles (Rs. 1115.00) (Code : 500040) :- Century Textiles’ real-estate

arm Birla Estates sold out phase 1 of Birla Trimaya in Bengaluru within 36 hours of its launch,
amounting to Rs 500 crore.

NDTV (Rs. 208.00) (Code : 532529) :- NDTV has received government's nod for
three news and current affairs channels in HD (Higher Definition).

Adani Ports and Special Economic Zones (Rs. 824.00) (Code : 532921)
:- Adani Ports and Special Economic Zone to buy back as much as $195 million of its notes due
2024 at a discount to their issue price. For debt tendered by October 11, the company will pay $975
for every $1,000 in principal. Thereafter the offer price drops to $965 per $1,000.

Apollo Hospitals (Rs. 5137.00) (Code : 508869) :- Apollo Hospitals acquired a

partially constructed hospital in Kolkata from Future Oncology Hospital and Research Centre for
Rs 102 crore.

Bharti Airtel (Rs. 926.00) (Code : 532454) :- According to Trai data, Reliance Jio
gained 39.1 lakh users in July; Bharti Airtel added 15.2 lakh new users, while Vodafone Idea lost
13.2 lakh users. Jio’s market share then stood at 38.6 %, while Vodafone Idea at 19.9 %.

Tata Power (Rs. 262.00) (Code : 500400) :- Tata Power’s Renewable Energy arm
plans to construct a 41-megawatt (MW) captive solar plant in Thoothukudi, Tamil Nadu. The facility
will serve TP Solar's upcoming 4.3-gigawatt (GW) greenfield solar cell and module manufacturing
unit located in Tirunelveli.

Dixon Technologies (Rs. 5287.00) (Code : 540699) :- Dixon Tech's unit, Padget
Electronics, entered into an agreement with Xiaomi for manufacturing smartphones and related
products for the latter.

NBCC (Rs. 58.00) (Code : 534309) :- NBCC to sell 14.75 lakh sq. ft. of commercial
space in New Delhi’s World Trade Centre, valued at Rs 5,716 crore through e-auction on October
23, 2023.

Saregama India (Rs. 361.00) (Code : 532163) :- Saregama India will acquire 51.8%
shares in digital entertainment company Pocket Aces Pictures that owns direct relationship with 95M+
younger digital-first customers across Instagram, YouTube etc. It will buy 51.8% stake for Rs 174 crore
with a clear path to further acquire another ~41% stake in next 15 months at pre-agreed multiples.
Financial Weekly TM

1st October 2023 to 7th October 2023 80

Godrej Agrovet (Rs. 480.00) (Code : 540743) :- Godrej Agrovet has entered into
a strategic partnership agreement with Sime Darby Plantation Berhad (SDP), the largest producer
of Certified Sustainable Palm Oil (CSPO). SDP will supply high-quality oil palm seeds to Godrej
Agrovet's oil palm business unit(s) and later set up a seed production unit in India.

Yes bank (Rs. 17.00) (Code : 532648) :- YES Bank has further acquired 1,79,37,200
equity shares of Rs 10 each at a premium of Rs 45.75 per share, of its subsidiary YES Securities
(India). The lender acquired these shares for nearly Rs 100 crore under rights issue.

NLC (Rs. 134.00) (Code : 513683) :- NLC India is setting up 3x800 MW coal based
thermal power project at Jharsuguda and Sambalpur districts in Odisha. It has entered into a long
term power purchase agreement (PPA) with GRIDCO for 400 MW. With this, the entire power of
2,400 MW has been tied up on long term basis with Tamilnadu- TANGEDCO (1,500 MW),
Puducherry- PED (100 MW), Kerala- KSEBL (400 MW) and Odisha- GRIDCO (400 MW).

Uno Minda (Rs. 599.00) (Code : 532539) :- Uno Minda has received board ap-
proval to increase stake in Minda Westport Technologies (MWTL) from 50% to 76% by acquiring
additional 26% stake from its joint venture partner Westport Fuel Systems Italia S.r.l. (Westport).
The cost of acquisition for 26% stake is Rs 14.81 crore. MWTL is one of the leading manufacturers
of alternate fuel systems — CNG and LPG components and kits for OEMs and aftermarket in India.

JBM Auto (Rs. 1374.00) (Code : 532605) :- JBM Ecolife Mobility, a subsidiary of the
company, has incorporated subsidiary Ecolife Mobility Bhubaneswar. Ecolife Mobility Bhubaneswar
will be engaged in the business related to supply, operation, maintenance, dealers etc. of public
transport type motor vehicles, electric buses, motor buses, lorries, ambulances, automobiles, and
similar vehicle designed for the transport and allied products.

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
29th September, 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

1st October 2023 to 7th October 2023 81

Keep eyes ontextiles stocks for
midterm investment
Col Ajayastromoneyguru
Mobile 9414056705

First week of October month 2023 represented by planet known as Sun and year 2023 repre-
sented by planet known as ketu.
As per Astro Economics combination of Ketu and Sun may bring mixed result in Global capital
Market.
This week sun and Mars, Jupiter and Rahu are making conjunction.
Under volatility due to international market was seen in India stock Market but our all recom-
mended stocks have shown wonderful up trend.
Ambuja cement 3.33%, REC 7.4%, Maruti Suzuki 1.62%, and NMDC 4% up trend seen as per
our previous article.
Hope all readers must have Enjoyed big profit under volatility.
All above stocks were among star performer previous week.
Hope readers must have enjoyed big profit in front line stocks.
Now this week combination of stars positive trend expected in stock market in week starts from
3-6 Oct 2023.
Now this week keep eyes on Arvind textiles, SCI,
Timely profit booking is mandatory for short term.
The above prediction and Analysis is done basis of Fundamental Analysis and Financial As-
trology.
Risk management is mandatory tool in stock Market.
You may use your wisdom and consult your analyst before taking any decision.
The above Analysis only for Education purpose.

Col Ajayastromoneyguru
Mobile 9414056705
Financial Weekly TM

1st October 2023 to 7th October 2023 82

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

Astrological planetary predictions

FOR STOCK MARKET INVESTMENTS
(From 2nd October to 8th October 2023)
In this week, Rahu and Jupiter in Aries, Mercury, mars, Sun in Virgo, Venus,
Venus in Leo, Ketu in Libra, Saturn in Capricorn, Moon occupies the house of
Aries, Taurus and Gemini. On October 2nd 2023, market remains closed due to
Gandhi jayanthi. On 3rd October and 4th October 2023, the conjunction of rahu
and Jupiter in Aries taking seventh position towards mars and ketu in Libra may
bring volatility in the market. On 5th October 2023 and 6th October 2023, Moon
in Gemini taking eighth position towards Saturn in Capricorn may bring volatility
in the market. Banking, Pharmaceuticals, defense sector may show boom in the
market.

GOLD PRICE MOVEMENTS

(From 2nd September to 8th October 2023)
3rd October and 4th October 2023, the conjunction of rahu and Jupiter in
Aries taking seventh position towards mars and ketu in Libra may bring volatility
in the market.
5th October 2023 and 6th October 2023, Moon in Gemini taking eighth posi-
tion towards Saturn in Capricorn may bring volatility in the market.
Financial Weekly TM

1st October 2023 to 7th October 2023 83

Senior Astrologer
Dharmesh Joshi

Mob. : 9909941816 • E-mail : stockmarket@ganeshaspeaks.com

Nifty Predictions ; 2-10-2023 to 6-10-2023

" 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. " Hey pals! Book is available; order your personalised book as soon as possible from
the link below.

02-10-2023 Monday :- There will be a holiday in the market today.

03-10-2023 Tuesday :- There are only 4 days of trading so play carefully and take
long positions accordingly. Overall Nifty will build strength this week. 9.15 to 11.40 Nifty will
have mixed to negative impact. Overall positive momentum remained in Nifty from 11.40 to
13.55. From 13.55, the Nifty will lighten up in the comparison of previous slots.

04-10-2023 Wednesday :- 9.15 to 10.10 Nifty jobbing the up side of the surface.
Between 10.10 to 13.40 it can be said that ''variation, fluctuation and price can change
dramatically'' in Nifty. 13.40 to 15.30 can be called a bullish trend.

05-10-2023 Thursday :- Today, there is a possibility of an IPL-like atmosphere. Short

Nifty around 10.05 and exit around 11.15. Short Nifty around 13.40 and get a reasonable
amount then exit.

06-10-2023 Friday :- 9.15 to 10.00 (V) shape graph is formed. From 10.00 pm, Nifty
comes down step by step, which may be till 11.20. Nifty goes up around 11.20 and passes
the time there which can be called boring. Again around 13.50 a temporary bubble comes up
side and again it becomes as it is which can be called boring.
Financial Weekly TM

1st October 2023 to 7th October 2023 84

News Track
Taiwan Excellence to Launch Cutting-Edge Products at Taiwan
Expo 2023 in Mumbai, Expanding Business Horizons in India
Mumbai - Taiwan Excellence, established in 1993 by Taiwan's Ministry of Economic Affairs(MOEA) to
recognize and celebrate the excellence of Taiwan's most innovative companies, is poised to leave a sub-
stantial mark at Taiwan Expo 2023. The expo is scheduled to take place from the 5th to the 7th of October
at the Bombay Exhibition Centrein Mumbai.This year, the Taiwan Excellence Pavilion is set to present an
impressive array of groundbreaking products and cutting-edge technologies that span across diverse in-
dustries.
In this year's event, there will be 25 pioneering brands, each proudly displaying the Taiwan Excellence
mark.Among these esteemed brands are AROMASE, AIFA, Alaska, ANNIE'S WAY, BenQ, Body Charger,
CONQUER, CyberPower, dc Mask, D-Link, EverFocus, GWINSTEK, HANRETEC, HCP, HUA-JIE, IBASE,
ICP Das, IPEVO, JUSTIME, MEAN WELL, PHISON, RevoCart, Shennona, Z-COM, and ZYXEL.
The partnership between India and Taiwan is poised to create a robust bilateral platform for collaboration
and knowledge exchange.In 2022, the trade volume between India and Taiwan reached an impressive $8.5
billion, marking a historic milestone in our relationship.
With a sharp focus on India's rapidly growing markets, Taiwanese brands have customized their offer-
ings to align with the ever-evolving preferences and demands of Indian consumers. The products span
diverse sectors, encompassing healthcare equipment, lifestyle products, smart gadgets, manufacturing
solutions, ICT innovations, and cutting-edge automated devices, among others

Dava India to spread its wings across

Maharashtra with a specialized franchise model!
~ Currently, the brand has 65+ outlets across Maharashtra, and 650+ outlets across India ~
Dava India Generic Pharmacy, India's largest private generic pharmacy retail chain (a brand of Zota
Healthcare Ltd), has decided to spread its wings across Maharashtra with a specialised franchise model.
The initiative is aimed at providing affordable medicines to the masses while also generating employment
and helping generate income across these villages.
Dava India Generic Pharmacy offers a comparative cost benefit of savings of up to 90% on medicine
bills. The country's largest generic pharmacy retail chain has also conducted health activities across 50+
cities with services like blood sugar checks, blood pressure & basic dental screening for its 75 lakh+ happy
customers across the length and breadth of India.
In addition to generic medicines, Dava India offers a wide range of over 2200 products in OTC, Cosmet-
ics, Gym Supplements, Nutraceuticals, Ayurvedic, Surgical, Panchagavya and exclusive co-branded Khadi
India products. The brand also makes high-end premium products available and accessible to all at afford-
able price points. The insights and vision of the brand leadership, led by Dr Sujit Paul, has helped Dava
India to speed up the growth and market penetration, while inculcating the right value systems in the future
generation of Indians.
Financial Weekly TM

1st October 2023 to 7th October 2023 85

Performance of “SMART PLUS NEWS LETTER”
Amazing 27% RETURN of our last News Letter Recommendation
SMART GAIN FOR SMART INVESTORS
Company Reccom. High after Ch. Company Reccom. High after Ch.

25-9-23 Recomm. (%) 25-9-23 Recomm. (%)

Stock Picks Technical Stocks

Tata Investment 2797 3444 23.13 PNB 77 79 2.6

L&T 2918 3011 3.19 Balrampur Chini 414 443 7

Anand Rathi 1554.9 1691 8.75 Mid Cap Stocks

Apar Ind. 5273 5490 4.12 Sterling Tools 350 374 6.86

JSW Holding 4727 4989 5.54 Pyramid Techno 164 170 3.66

Stock Watch Man INfra 145 155 6.9

SAFARI 3614 3950 9.3 Kovilpatti Lakshmi 166.9 213 27.62

KEI Ind. 2481 2658 7.13 ITI 190.85 203 6.37

GE Shipping 810 842 3.95 Triveni Turbine 412 438 6.31

Fundamental Stocks L&T Fin. 124 126 1.61

Granules 336 341 1.49 Small Cap Stocks

Praj Ind. 568 582 2.46 IOB 43 46 6.98

VRL Logistics 703 713 1.42 HCC 26 27 3.85

REC 271 281 3.69 MTNL 29 32 10.34

Talbross Auto 963 1036 7.58 IFCI 21 24 14.29

Elecon Engg. 716 769 7.4 HUDCO 85 86 1.18

If you want to get benefit of it..... Subscribe

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

1st October 2023 to 7th October 2023 86

REVIEW OF Smart Bonanza
Issue No. : 23 • Date : 27-9-2023

Company Reccom. High after Ch. Company Reccom. High after Ch.

27-9-23 Recomm. (%) 27-9-23 Recomm. (%)

HCC 25 27 8.00 Birla Corp 1188 1229 3.45

Ashoka Build 110 122 10.91 Century Tex 1064 1115 4.79

JWL 302 327 8.28 Dixon Techno 5096 5287 3.75

Kalyan Jeweller 216 227 5.09 Triveni ENG 381 387 1.57

RVNL 166 169 1.81 Senco Gold 532 628 18.05

KPIT Techno 1086 1151 5.99 Gillette India 6087 6168 1.33

for more detail click the below link

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

1st October 2023 to 7th October 2023 87

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featured herein
 Financial Weekly TM

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