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61

GAMC No. :1703/2015-17. Issued by SSP Ahd. Valid up to 31-12-2017

VOL : 10 Issue No: 25 RNI No : GUJENG / 2008 / 24320 6th August 2017 to 12th August 2017

FII Activity (Rs. Cr.)

Date Buy Value Sell Value Net Value
31-07-17 5485.32 6682.26 -1196.94
01-08-17 4515.64 5461.47 -945.83
02-08-17 4061.95 3588.23 473.72
03-08-17 5533.65 5509.58 24.07
04-08-17 4266.47 5120.27 -853.8
23863.03 26361.81 -2498.78

DII Activity (Rs. Cr.)

31-07-17 4864.71 3096.28 1768.43
01-08-17 4313.29 2922.64 1390.65
02-08-17 2671.26 2904.21 -232.95
03-08-17 3068.64 3457.98 -389.34
04-08-17 3948.95 2931.85 1017.1
18866.85 15312.96 3553.89

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Financial Weekly

SMART
INVESTMENT
6th August 2017 to 12st August 2017 4
Rapid Fire Stocks
- Kalpna J (Email- Kjtech79@gmail.com) (Ring : 97690 37711)

Gujarat Narmada Valley (Rs. 297.00)

BSE: 500670 | NSE: GNFC |
Gujarat Narmada Valley Fertilizers & Category No. of shares Percentage
Chemicals Ltd., incorporated in the year Promoters 64,006,713 41.18
1976, is a Mid Cap company (having a mar- General Public 37,862,202 24.36
ket cap of 4626.82 Cr.) operating in Fertiliz- Financial Institutions 16,923,481 10.89
ers sector. For the quarter ended 30-06-2017, Foreign Institutions 16,145,024 10.39
the company has reported a Standalone
Others 11,868,308 7.64
sales of 1054.58 Cr., and has reported net
NBFC & Mutual Funds 8,521,815 5.
profit after tax of 66.55 Cr. in latest quarter.
Technical Discourse : Stock is in uptrend, Buy at CMP: 297 Target - 355 to 370 ,SL- 230, Time
Frame 2 to 12 Months.

Indiabulls Ventures Ltd (Rs. 196.00)

BSE: 532960 | NSE: IBVENTURES
Indiabulls Ventures Ltd., incorporated in Category No. of shares Percentage
the year 1995, is a Mid Cap company (hav- Promoters 152,748,802 38.90
ing a market cap of 8688.56 Cr.) operating in Others 104,782,958 26.69
Finance sector. For the quarter ended 30-06- General Public 88,353,414 22.50
2017, the company has reported a Consoli- Foreign Institutions 44,794,373 11.41
dated sales of 165.88 Cr.,and has reported Financial Institutions 1,982,478 0.50
net profit after tax of 50.28 Cr. in latest quarter.
Technical Discourse : Stock is in uptrend, Buy at CMP: 196 Target - 235 to 270 ,SL- 163, Time
Frame 2 to 12 Months.
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 5
FIFTY FIFTY
MAYANK SHARMA MUMBAI -Research Analyst

LAKSHMI ELECTRICAL CONTROL SYSTEMS

(504258 & NSE) (663)
Lakshmi Electrical Control Systems Ltd. (LECS) is a group company of Lakshmi Machine Works
Ltd (LMW), incepted in 1981, manufactures Control Panels and Engineering Plastics Components.
LECS has set up a state of the art integrated plant at Coimbatore, Tamil Nadu to build Control
Panel and Engineered Plastic Components for various industrial applications. LECS is organized
into three main Business Segments viz., Electrical Equipments (83% revenue generation), Plas-
tics (17% revenue generation) & Wind Power Generation (1% revenue generation). In Q1FY18,
LECSs Total Revenue grew by 17% QoQ (Up 30% YoY) from Rs.466.3 Mn in Q4FY17 to Rs.545.2
Mn, EBITDA zoomed by 10% QoQ (Up 26% YoY) from Rs.40 Mn in Q4FY17 to Rs.44.2 Mn and
PAT pumped by 87% QoQ (Up 34% YoY) from Rs.14.5 Mn in Q1FY17 to Rs.27.1 Mn. LECS holds
88,800 share of LMW at a carrying cost of Rs.63.85 lacs whereas the current market value of those
shares is more than Rs.50crores. AT CMP of Rs.663, the stock is trading at PE of 17.2x on its EPS
(TTM) of Rs.38.72 per share. We recommend a strong BUY for this stock with an uptrend of 25% in
short term.

JAIPRAKASH POWER VENTURES

(532627 & NSE) (7.2)
Jaiprakash Power Ventures Limited (JPVL) earlier known as Jaiprakash Hydro Power Ltd (JHPL)
is a part of the Jaypee Group was incorporated in 1994, is into planning, developing, implementing
and operating power projects in India. JPVL currently operates the largest hydroelectric power
plant in the private sector in India. JPVL has power generation capacity of 2220 MW comprising of
one Hydro Power Plant (in Uttarakhand) and two Thermal Power Plants (both in Madhya Pradesh)
along with a cement grinding facility (in Madhya Pradesh) with a capacity of 2 MTPA. In Q1FY18,
JPVLs revenue grew by 57% on QoQ basis (Up 43% YoY) from Rs.6,999.9 Mn in Q4FY17 to
Rs.10,993.1 Mn, EBITDA zoomed by 188% QoQ (Up 42% YoY) from Rs.1,580.4 Mn in Q4FY17 to
Rs.4,544.7 Mn, Finance cost shrinked 14% QoQ (Down 19% YoY) from Rs.4,238.7 Mn in Q4FY17
to Rs.3,629.5 Mn, and Net Loss reduced from Rs. 2,298.2 Mn. in Q4FY17 to Rs.190.2 Mn. Finance
cost as a % of Revenue came down drastically from 61% in Q4FY17 to 33%. With an objective to
provide 24x7 power across the country by 2020, the Government has taken several landmark de-
cisions for generation of power. AT CMP of Rs. 7.2, we cannot calculate the PE at which the stock
is trading as EPS (TTM) is negative, but seeing the demand drivers, growth in industry, Govern-
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 6
ment initiatives and reduction in finance cost and debts; going ahead, JPVL is expected to report
good profits. We recommend a strong BUY to our investors with multiplier of 2x gains in 1 year time
frame.

SKL (540269) (15)

Super Fine Knitters Ltd. (SKL), incepted in the year 1998, is a multi-divisional textile unit en-
gage in the business of manufacturing knitted apparels for itself as well as for national and interna-
tional brands and is a well-known supplier of knitted fabrics for large companies in India involved
in manufacturing and exporting knitted apparels. SKL got listed on 2nd February, 2017 on Small
and Medium Enterprises (SME) Platform of BSE and can be traded only on BSE SME Exchange.
In FY17, SKLs revenue grew marginally by 1% on YoY basis from Rs.846.7Mn. for FY16 to
Rs.857.8Mn, EBITDA grew 5% from Rs.44 Mn in FY16 to Rs.46.3 Mn and PAT zoomed by 27%
from Rs.6.3 Mn in FY16 to Rs.8 Mn. The textile sector is one of the largest contributors to Indias
exports with approximately 11% of the total exports. Governments initiatives towards knitting in-
dustry will also benefit SKL on a large scale. AT CMP of Rs.14.75, the stock is trading at PE of
17.2x on its FY17 EPS of Rs.0.86 per s hare. We recommend a strong BUY to investor with a target
price of Rs.30 in next 6 months to 1 year time frame.

ECOPLAST LTD (526703) (103)

Ecoplast Ltd, incepted in 1981, is headed by Chairman Mr. Pheroze P Kharas, is engaged in
business of manufacturing and selling polyethylene films for flexible packaging and other spe-
cialty applications. Commenced with capacity of 540 MT, company has expanded Multilayer film
capacity to 7500 MT per year. Its products are used in Agro, Fertilizers, Cable Wrap, Cosmetics &
Toiletries, Food & Beverages, Pharmaceuticals & Specialty Applications. The global flexible plas-
tic packaging market was valued at USD 97.97 billion in 2016, and is projected to reach USD
131.65 billion by 2022, at a CAGR of 5.2%. Its results for last quarter Q4FY17 has shown revenue
growth of 3.89% on QoQ from Rs.232.03 Mn for Q4FY16 to Rs.236.02 Mn and PAT zoomed
418.77% QoQ to Rs.4.31 Mn in Q4FY17. We expect company to more improve results owing to
industry expected to grow at the rate of 18% per annum in time to come. Stock is trading cheap at
PE of 11.89x on its FY17 EPS of Rs. 8.61. It has potential of 10% upside in next 3 months. Buy for
investment.

Lupin Ltd (500257 & NSE) (992)

Lupin Ltd, incepted in 1991, is a transnational company engaged in development of APIs, ge-
neric and branded formulations, is the largest manufacturer of Tuberculosis drugs in the world
having onshore and offshore presence of its products. Lupin yet again reported a disappointing
quarter for Q1FY18, Revenues/EBITDA/PAT plunges 13.39%/55.51%/59.40% YoY to INR
38,696mn/7,684mn/3,581mn. AT CMP of Rs.992.50, Lupin is trading at PE of 22.03x on its FY17
EPS (TTM) of Rs. 45.05. The stock seems to be overpriced looking at (1) Recent quarter results &
future revenue prospects of the company (2) Delays in the launches in US, (3) Pricing pressure in
the base business in US and (4) New regulations in Japan leading to potential downside of 11% at
TP Rs. 881. Thus we recommend to sell on highs.
Financial Weekly

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6th August 2017 to 12st August 2017 7
Jatin Sanghavi
Market Scan (Mumbai)
(M) 098205 26455
jatinsanghavi100@yahoo.com

GRAPPLING WITH THE TARGET ZONE

SENSEX TAKES SUPPORT AT 20DMA
The market is in an interesting space where the indices are testing the Target Zone between
10100-10400; which is a confluence zone formed by various pattern targets across different
timeframes. Hence it is not unusual to see the market retracing after achieving every target level.
The markets will continue to wrestle with this confluence zone until it decisively overcomes this
zone, which may require some sort of consolidation price-wise as well as time-wise. On Friday,
Sensex took support at the short term average of 20dma before staging a bounce-back; as a result
the trend still continues to remain upwards.
TECHNICALLY SPEAKING :- Sensex opened the week at 32412, made a high of 32686, low
of 32107 and closed the week at 32325. Thus it closed the week with a gain of 16 points. At the
same time the Nifty opened the week at 10034, made a high of 10137, low of 9988 and closed the
week at 10066. Thus the Nifty closed the week with a gain of 52 points.
On the daily charts, Nifty has formed a real white body candle whereas Sensex has formed a
Thrusting pattern which is a bearish continuation pattern. On the weekly charts, Sensex has formed
a black body Spinning Top whereas Nifty has formed a white body Spinning Top. Thus candle-
stick study indicates indecisiveness for the near term.
The current rally has seen the indices testing the strong upward Trendline Resistance (Sensex
- 32702 and Nifty - 10103) last week. Even though Nifty managed to overcome this level for couple

This Weeks Recommendations

Rec. Name CMP SL TGT-1 TGT-2
Buy Eicher (M) 31637 31050 32523 33444
Buy HeroMoto 3956 3880 4070 4195
Buy YesBank 1807 1767 1869 1933
Buy MGL 1026 1008 1055 1085
Buy PC Jew. 259 253 268 278
:::: INDEX LEVELS ::::
S3 S2 S1 Close R1 R2 R3
NIFTY 9792 9885 9978 10066 10144 10238 10343
SENSEX 31353 31626 32037 32325 32737 33089 33389
Financial Weekly

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6th August 2017 to 12st August 2017 8
of days, but Sensex could not. Thus in the short term, further upward rally will be possible only if the
indices manage to close above this Trendline Resistance.
This week, the indices registered fresh life-time highs and then retraced to a low of Sensex
32107 and Nifty 9988. In case if these levels are taken out on the lower side, then the consolidation
can take the form of short term Correction. The immediate Retracement levels are placed at Sensex
31920-31683-31446 and Nifty 9875-9793-9712.
On the weekly charts, both Sensex and Nifty have completed a second degree Bullish Flag
pattern, the target for which falls at Sensex - 33619 and Nifty - 10343. The above targets will be
achieved as long as Sensex remains above 30680 and Nifty above 9448.
This week, both the indices tested and took support at the short term average of 20dma (Sensex
- 32134 and Nifty - 9946). Besides, both Sensex and Nifty continue to remain above the medium
term average of 50dma (Sensex - 31551 and Nifty - 9746) and even the long term average of
200dma (Sensex - 29026 and Nifty - 8973). Thus the Trend in the short term, medium term and
even the long term timeframe continues to remain Bullish.
The current Rally has produced two major Bullish Gaps. The first Bullish gap between Sensex
29780-29681 and Nifty 9250-9225 will not only act as Support but holds the key to intermediate
trend. The second Bullish Gap which is more significant as it is also a Weekly Gap i.e. between
Sensex 29356-29098 and Nifty 9060-8977 hold the key to the long term trend. Besides acting as a
support, this gap also acts as a Measuring Gap. The target as per Gap theory falls at Sensex 32737
and Nifty 10144.
A Saucer pattern was completed when the indices closed above Sensex 29077 and Nifty 8968.
The complete pattern target which is at Sensex 32437 and Nifty 10043 has already been achieved.
On the weekly formation, both the indices completed a Cup and Handle formation and the targets
are Sensex 34677-37554 and Nifty 10536-11413.
If one considers the Cup and Handle formation of 7 years from 2007 to 2014, the target for that
pattern falls at Sensex 34715 and Nifty 10462. The Golden Ratio target of the current pattern weekly
pattern of 2 years is at Sensex 34677 and Nifty 10536. Thus in the medium term one can expect a
test of the above targets i.e. Sensex 34677-34715 and Nifty 10462-10536.
MACD and Price ROC, both are positive and in Buy mode. RSI (67) suggests strong bullish
momentum. Stochastic Oscillator %K (75) is below %D and hence in Sell mode. ADX is at 33,
which suggests that the Uptrend is strong. Directional Indicators continue in Buy mode as +DI is
above -DI. MFI (73) suggests Positive Money Flow. OBV continues to make higher tops and bot-
toms. Bollinger Band continues with its Buy signal. Thus Oscillators are suggesting a bullish bias.
Options data for August series indicate highest Call Open Interest is at the strike of 10500 and
highest Put build-up is at 10000. Thus Options data suggests a trading range with resistance com-
ing in at 10500 and support at 10000.
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 9
Jignesh R Mehta
(SEBI Registered Research Analyst)
E-mail : support@kiranjadhav.com
Website : www.KiranJadhav.com
Phone: 95 95 113344

Downside View on Nifty, Very much intact !

In my last article, we were at the view to short Nifty with strict Stop Loss placed at 10116 levels
on closing basis. This view worked incredibly well because Nifty closed at 10115 on 1-Aug-17
upon closing. However, it could never close above this level in all of this week. Currently, Nifty has
started to move in to the weaker chart structure and hence it should remain in week hands. India
VIX chart also suggests to be trading in the lower territory along with all moving averages ready to
burst on upside that too with last day hammer candle formation. This in a way is also suggesting
some down side surprise in any day on coming week. Everyone who are already in short view of
Nifty should continue to stay put on the same strategy with same stop loss at 10116. Upon move in
the desired direction one can keep looking for bullish candlestick pattern with higher volumes on
latest candle (i.e. Bullish Piercing, Bullish engulfing or Morning Star) to consider exit.

Rising Star
Triveni Engineering (Rs. 97.8) : NSE: TRIVENI, SECTOR: Sugar
While we took a look at the life time chart of TRIVENI with daily candlesticks, it was found so
opportune chart for recent time. The reason being, the price that is trading today at around 97.8
 Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 10
kinds of level have always felt resistance from about 86 kinds of level in the past. It is quite
evident to all of us as horizontal line on the 86 levels if plotted, we can see the similar levels from
which stock started its journey down side in 1994. Price took a whole lot of time until Dec-2007 to
touch that similar levels in the past and again it felt the resistance from that levels. Until Feb-
2017 this kind of horizontal line was acting as a great important resistance line of the life span of
this stock. It was because the same line was acting as resistance at least thrice in its life before
Feb-2017. Such a line has prodigious prominence as per our Investor and Trader's delight sys-
tem. Such a line if breached above by price can take price at least to double from that line level.
And that is happening now because price is already beating the line on upside. If we impose the
long term EMAs, i.e. 26, 34, 40, 45, 50, 60 periods then it is starting to spread bullish on the chart
and it is giving the signal of a fresh bull run may be starting again supported by long term inves-
tors. Along with them the short term EMAs i.e. 5, 8, 10,13 too is spreading bullish by staying
above the long term EMAs group. This indeed is again a bullish sign. Volume cluster beneath
the support line showing the renewed interest of stronger section of the people for the stock.
Hence this stock can be a pick to be reviewed for Investors with a strict stop loss placed at 72 for
the first target of 172 in coming 2 years or so. The stop loss is arrived upon by finding the current
support line value and the same should be trailed with concurrent support line and its value.
Anyone who has risk appetite up to 72 along with the consent of their personal financial advisor
can venture in to the stock
Disclosers : Views expressed in this article/articles are personal opinion of Author and it doesn't
constitute an offer to buy or sell securities mentioned herein. Enough care has been taken before
arriving at these data, figures & charts, however, readers are advised to do their own assessment
before taking any actions in the market. The author and his company does not take any responsi-
bility for any results that may arise out of using this information.

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

Triveni Engg. 97.00 Bharat Seats 120.00 Rel. Infra 530.00 LUPIN 992.00
L & T Fin. Hold. 174.00 NOCIL 138.00 Century Tex. 1222.00 Equitas 167.00
Renuka Sugar 18.00 KEC Inter. 298.00 Pidilite 808.00 Tata Power 80.00
Ultramarine Pig 197.00 NTPC 177.00 Apollo Tyres 262.00
BSE 1067.00
Reliance Comm. 23.00
SCI 88.00 NMDC 124.00 Concor 1179.00 ARVIND 364.00
Amtek Auto 26.00 Surya Roshni 285.70 Yes Bank 1809.00 Ujjivan 320.00
Snowman Logistics 54.00 Sterlite Techno 219.00 L&T 1176.00 Carborundum 337.00
Hudco 80.00 Hexaware 251.00 Reliance Ind. 1622.00 DCW 34.00
Mercator 41.50 Kansai Nerolac 444.00 Avanti Feeds 1786.00 Dr. Reddy 2244.00
GSFC 136.00 INOX Leisure 249.00 Supreme Ind. 1102.00 Shilpi Cable 31.00
JSPL 138.00 Kohinoor Foods 71.00 SUN Pharma 506.00
Shree Cement 18069.00
Wipro 289.00
Financial Weekly

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6th August 2017 to 12st August 2017 11
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 12
Lexus Granito
Enters into the SME IPO Market

Issue Detail Corporate Feature

Issue Open: Aug 9, 2017
Issue Closes : Aug 11, 2017 Object of Issue
Issue Price: Rs 41 - Rs 45 Per Equity Share -Working Capital
Market Lot: 3000 Shares requirement
Minimum Order Quantity: 3000 Shares
Issue Type: Book Built Issue IPO -General Corpo-
Face Value: Rs 10 Per Equity Share rate Purposes
Issue Size: 5,760,000 Equity Shares of Rs 10 aggregating up to Rs 25.92 Cr

Lexus Granito (India) Limited is mainly engaged in manufacturing, trading and marketing
vitrified ceramic tiles and wall tiles in India and internationally. It markets and sells its
product under the brand name "Lexus". It offers wall, floor, and decorative elevation tiles to
home owners and commercial facilities.Till date, the company was outsourcing manufactur-
ing of wall tiles to third party manufacturers but recently it has set up its own wall tiles
manufacturing unit at its existing facility which is situated at Morbi, Gujarat. The unit is
spread over more than 4 hectores. Lexus also exports its products to Saudi Arabia, Mexico,
Kuwait, Oman, etc.
Lexus is going to enter into the SME market very next week. Its IPO opens on August 9,

2017 and closes on August 11, 2017. It

will issue each equity share with a price
band of Rs.41-45. Market lot will be of 3000
shares. Total Issue size is Rs.57,60,000
equity shares worth Rs.25.92 crore with
face value of Rs.10 per equity share.
Financial Weekly

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6th August 2017 to 12st August 2017 13
Promoters of Lexus
Babulal Detroja :- Babulal Detroja, aged 56 years is the Chair-
man and Whole time Director of the company. He has been dsignated
as whole time Director w.e.f. May 04, 2017. He has nearly a decade
of experience in the ceramic industry and has thorough knowledge of products of the
company. He looks after the strategic growh of the company and looks after overall
business operations.
Anilkumar Detroja :- Anilkumar Detroja, aged 31 years is
the Promoter and Managing Director of the Company. He has been
designated as Whole Time Director w.e.f. May 04, 2017. He has an
experience of more than seven years in this industry and has been
key person in formulating and implementation of business strategy
for growth & expansion and manages overall business operations.
He also looks after financial affairs of the Company.
Hitesh Detroja :- Hitesh Detroja, aged 29 years is the Pro-
moter and Whole Time Director of the Company. He has been desig-
nated as Whole Time Director w.e.f. May 04, 2017. He has an expe-
rience of more than seven years in the ceramic industry and is en-
trusted with the responsibility to look after the marketing and admin-
istration department of our Company. He also looks after the export
operations of our Company. It is under guidance of Hitesh that our Company has
grown over a short span of time which is evidenced by the total income crossing over
Rs.16,400.00 lakhs in FY 2016-17.
Nilesh Detroja :- Nilesh Detroja, aged 33 years is the Promoter
and Whole Time Director of our Company. He has been designated as
Whole Time Director w.e.f. May 04, 2017. He has an experience of more
than seven years in the ceramic industry and currently looks after the
production and product research & development of our Company. He
handles his designing department and keeps the team updated with the latest ongo-
ing trends.

Its product range includes glossy series, matt series, rustic series, etc. It has also re-
cently set up wall tiles unit for catering to the market demand. It believes that maintaining a
wide range of products in its business provides us with an opportunity to cater to diverse
needs of different customer segment. Its manufacturing facility is well equipped with requi-
site plant and machineries and other
facilities.It also have an in-house laboratory, enabling the company to develop new colours,
-Lexus has, recently, been
besides
recognized as Two Star
Export House by the facilitating conducting of tests and analysis of various
Directorate General of
Foreign Trade. It has also products.Its quality system with respect to manufacture of our
been awarded by Rising
products has been ISO 9001:2008 certified. Further it has also
Stars at Power Brands
Global London Interna- been issued Certificate of Compliance by UK Certification & In-
tional Forum for Equality
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 14
spection Ltd for its quality systems cov-
ering the design, manufacture and final in-
spection of the products. Lexus has grown
over a short span of time which is evident
by the growth in its total revenue from Rs.
6,365.40 lakhs in FY 2012-13 to Rs.
16,473.11 lakhs in F.Y. 2016-17 and profit after tax from Rs.156.17 lakhs from F.Y. 2012-13
to Rs.508.82 lakhs in F.Y. 2016-17. It is the vision of its promoters which has been instru-
mental in defining the business strategy of the Company.
The Company has been catering into both domestic and international markets. Its revenue
from domestic and export operations contributed 35.51% and 64.49% respectively for the
year ended March 31, 2017. During FY 2017, it exported its products to 20 countries such as
Australia, Saudi Arabia, Mexico, Kuwait, Oman, USA, UK, etc. It has recently been recog-
nized as Two Star Export House by the Directorate General of Foreign Trade vide certificate
dated February 08, 2017. It has also been awarded by Rising Stars at Power Brands Global
London International Forum for Equality. Lexus has recently set up wall tile manufacturing
unit at its existing manufacturing facility. The said unit is set up with an installed capacity of
5,40,00,000 sq. ft. p.a. Domestically, it intends to set up its own retail outlets so as to
capture the retail market directly. At present, in domestic markets, it is mainly supplying its

-Lexus has grown over a products either through distribution chan- Lexus Granito (India)
short span of time Limited is mainly en-
which is evident by the nel or directly to customers. By setting
gaged in manufacturing,
growth in its total up its own retail outlets, it aims to have trading and marketing
revenue from Rs. vitrified ceramic tiles and
6,365.40 lakhs in FY access to the ultimate consumer and in- wall tiles in India and
2012-13 to Rs. 16,473.11 internationally. It has
lakhs in F.Y. 2016-17 and crease our market penetration. It has an manufacturing facility at
profit after tax from established network of more than 300 Morbi, Gujarat.Lexus is
Rs.156.17 lakhs from F.Y. going to enter into the
2012-13 to Rs.508.82 dealers and distributors for our domes- SME market very next
lakhs in F.Y. 2016-17. Its week. Its IPO opens on
revenue from domestic tic networks. Internationally, we have August 9, 2017 and
and export operations been covering around 20 countries. closes on August 11,
contributed 35.51% and 2017. It will issue each
64.49% respectively for equity share with a price
the year ended band of Rs.41-45
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 15
- Parag Salot
Technical Trading Trends (SEBI Registered Research Analyst)
M. : 91-9930011789
Nifty Overview : In Last Trading Session, Nifty closed at 10111. Nifty is surely in positive zone and can extend the
move further but there is a need to be cautious as now the sessions may turn a bit volatile & Nifty may try to test 9970
levels.
Bank Nifty Overview : In Last Trading Session, Bank Nifty closed at 24958. Bank Nifty did not move as much did
Nifty and many banking stocks have undergone correction. There is no clear signal to trade. Wait & Watch. There may
be less opportunity to trade as many stocks has already moved up and now you need more indications to initiate fresh
trade.

Last Recommendation Review

Scrip Name BSE Buy/ Enter Did High/ Remark
Code Sell at Low
MFSL 500271 Buy 600 625 Target Achieved
UPL 512070 Buy 874 906 Target Achieved
L&THF 533519 Sell 176 171 Target Achieved

Trading Buy
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Adani Ent 512599 138 141 145 150 137
Axis Bank 532215 510 505 515 524 499
Jindal Steel 532286 139 132/135 145 155 124
ONGC 500312 167 164/165 169 174 161
SAL 500113 62 59/62 67 74 56

Trading Sell
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
HPCL 500104 439 445/450 438 430 455
IBREAL 532832 250 255/258 250 245 262
IGL 532514 1191 1210/1225 1200 1180 1235
L&TFH 533519 174 181/185 174 165 190
Titan 500114 612 620/625 610 600 633
Voltas 500575 541 555/560 545 535 566
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 intraday charts. Read Disclaimer at ShareInfoline.com
Financial Weekly

SMART
INVESTMENT
6th August 2017 to 12st August 2017 16
SMART
BUY OF THE WEEK
Dark Horse

NTC INDUSTRIES
(526723) (62.65)
(Face Value Rs.10)
NTC industries limited, earlier known as the National Tobacco Co. of India Limited, founded in
September 1931 with its office and works in the city of Kolkata, India, is a premier organization for
Cigarette and Tobacco Products manufacturing and marketing within India and overseas. NTC is
one the few companies in India having license to manufacture 11,200 million stick cigarettes per
annum and capacity to process 2000 kgs of tobacco per hour. It is first company to manufacture
and market filter and menthol cigarettes in India and it is pioneered manufacture of 85mm Filter
cigarettes in India. The company sells its products under the Regent, Cool, No.10, NGF, Maypole,
Jaipur, and General brands. It also exports its products to South America, the Soviet Unions, Afri-
can countries, and the Middle East countries.
It has an equity base of just Rs.10.75crore that is supported by reserves of around Rs.28.02crore.
The Promoters hold 67.47% while the investing public holds 32.53% stake in the company.
For Q4FY17, NTC has reported profit of Rs.1.04crore against loss of Rs.0.54crore on 38.22%
higher sales of Rs.7.34crore fetching an EPS of Rs.0.97.
During FY17, its net profit zoomed 78.48% to Rs.3.30crore on 25.65% higher sales of
Rs.23.02crore fetching an EPS of Rs.3.07. Interest cost came down from Rs.4.28crore to
Rs.1.96crore in FY17. Currently, the stock trades at a P/E of just 20x.
Company has almost 20 acres land in Kolkata. Market value of this land should be around
Rs.300crores. It is having cigarette license and one may be aware that in India, issuance of new
license for cigarette manufacturing has been banned and even capacity expansion to existing
companies is banned. Cigarette license and capacity of NTC is valued around Rs.500crores. Thus
market value of its Land in Kolkata and its cigarette license/division can be around Rs.800crores.
However, current market cap of NTC is just Rs.65crores.
Based on the above reason and performance parameters, the NTC share looks quite attractive
at the current level. Investors can buy this stock with a stop loss of Rs.50. On the upper side, it
could zoom to Rs.75-80 levels in the short to medium term & when value unlocking takes place
stock can be a multi-bagger. Its all-time high rate is Rs.327.
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 17
SAKTHI FINANCE (511066) (39)
(Face Value Rs.10)
Incorporated in 1955, Sakthi Finance Ltd is part of Sakthi Group of Companies based at
Coimbatore, South India. It is a non-banking financial company, primarily provides asset financing
services in India. The company is involved in the provision of hire purchase financing of small,
medium, and heavy commercial vehicles; and financing for purchasing infrastructure construction
equipment, multi-utility vehicles, cars, jeeps, and other machinery. It also offers secured non-con-
vertible debentures; and generates power through windmills and sells power to Tamil Nadu Elec-
tricity Board and Gujarat UrjaVikas Nigam Limited. The company operates 17 windmills with a
capacity of 5150 kilo watt located in the States of Tamil Nadu and Gujarat. It operates through a
network of 46 branches located in Tamil Nadu, Kerala, Andhra Pradesh, Karnataka, Maharashtra,
Haryana, and the Union Territory of Puducherry.
It has an equity base of just Rs.50crore that is supported by reserve of around Rs.85.10crore.
The promoters hold 64.21% while the investing public holds 35.79% stake in the company. It has a
share book value of Rs.32.42 & price to book value ratio is around 1.10 which is cheapest in NBFC
segment.
During FY17, its net profit zoomed 33.75% to Rs.16.76crore on income of Rs.167.81crore fetch-
ing an EPS of Rs.3.10.
Currently, the stock trades at a P/E of just 11.6x which is lowest in NBFC space. Company has
recommend 10% dividend for FY17.
NBFC stocks have shown huge rally in last 3 years and still looks attractive from hereon also.
Based on the above financial and performance parameters, the SFL share looks undervalued at
the current level. Investors can buy this stock with a stop loss of Rs.31. On the upper side, it could
zoom to Rs.48-50 levels in the short to medium term & Rs.65 levels in long term.
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 18
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 19
S u b r a m a n i a n
Stock Buzz Mahadevan

Torrent Power Limited (Rs. 183)

Uninterrupted Supply!
Torrent Power Ltd (Torrent) - an Ahmedabad based company is one of the leading brands in the
Indian power sector, promoted by the Rs. 13116 crore Torrent Group - a group committed to its
mission of transforming lives by serving two of the most critical needs - healthcare and power.
Torrent Pharmaceuticals Ltd., the flagship company of the Torrent Group, is a major player in the
Indian pharmaceuticals industry with a vision of becoming a global entity in the arena. With an all-
round experience in generation, transmission and distribution of power, and a proven track record
of implementing large power projects, Torrent Power is the most experienced private sector player
in Gujarat. Torrent Power, the Rs. 11,959 Cr. integrated power utility of the Torrent Group, is one of
the largest private sector players in India having interests in power generation, transmission, distri-
bution and manufacturing and supply of power cables. Torrent Power, along with its subsidiaries,
has a portfolio of coal based, gas based and renewable power plants with an aggregate genera-
tion capacity of 3334 MW comprising: 1147.5 MW Gas based SUGEN Mega Power Plant near
Surat; 382.5 MW Gas based UNOSUGEN Power Plant near Surat; 1200 MW Gas based DGEN
Mega Power Plant at Dahej SEZ, near Bharuch; 422 MW Coal based AMGEN Power Plant at
Ahmedabad; 182 MW Renewable capacity with under-construction wind power projects of 338
MW, the total renewable generation capacity (operational and under development) reaches to 520
MW. Company declared a mind-boggling results this week for Q1FY2018 where in topline jumped
18% to 3058.98 crore and PAT vaulted 338% to 203.24 crore compared to same quarter previous
year. Business outlook for power sector continue to look robust in years to come, Torrent appears
attractive at CMP considering various parameters like current market price is 1.2 times book value,
good dividend yield, inexpensive P/E multiple and huge assets with declining debt-equity ratio.
Investors may consider buying this counter even at current levels for solid double digit returns in
one to two years' time frame with very limited downside.

- Subramanian Mahadevan
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 20
BUY.... BUY....BUY TIPS OF THE WEEK
Co. Name Code Price Co. Name Code Price
Co. Name Code Price Co. Name Code Price
PFC 532810 128.00 Reliance Capital 500111 743.00
Virinchi 532372 90.00 Mahanagar Gas 539957 1026.00
RCF 524230 104.00 TCPL Pack. 523701 635.00
PTC (I) 532524 117.00 MotherSon 517334 336.00
NIIT Ltd. 500304 901.00 Jayshree Tea 509715 101.00
GNFC 500670 299.00 Kaveri Seed 532899 697.00
Mirza Intl. 526641 162.00 KSB Pumps 500249 718.00
Bharat Ele. 500049 178.00 Bajaj Finance 500034 1723.00
Jamna Auto 520051 263.00 Bajaj Auto 532977 2874.00
KRBL 530813 454.00 UPL 512070 886.00
Havells India 517354 491.00 HUL 500696 1192.00
I. G. Petro 500199 449.00 Maruti 532500 7778.00
MRPL 500109 129.00 PVR 532689 1398.00
KRBL 530813 454.00 Sobha Ltd. 532784 386.00

Nifty & Sensex Movement during the last week

NSE - Nifty Open High Low Close Diff
31-Jul-17 10034.7 10085.9 10016.95 10077.1 62.6
01-Aug-17 10101.05 10128.6 10065.75 10114.65 37.55
02-Aug-17 10136.3 10137.85 10054.2 10081.5 -33.15
03-Aug-17 10081.15 10081.15 9998.25 10013.65 -67.85
04-Aug-17 10008.6 10075.25 9988.35 10066.4 52.75
Net Weekly Gains 51.9
Sensex Open High Low Close Diff
31/07/17 32,412.20 32,546.50 32,324.45 32,514.94 205.06
01/08/17 32,579.80 32,632.02 32,462.25 32,575.17 60.23
02/08/17 32,641.58 32,686.48 32,394.89 32,476.74 -98.43
03/08/17 32,502.55 32,502.55 32,194.58 32,237.88 -238.86
04/08/17 32,191.12 32,352.19 32,107.99 32,325.41 87.53
Net Weekly Gains 15.53
Financial Weekly

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6th August 2017 to 12st August 2017 21
Techno-Funda Call Ankit Baheti

MODISON METALS (A SHINING STAR)

SECTOR:- ENGINEERING
INDUSTRY:- SWITCHING EQUIPMENT
CMP- RS 55/- (BSE CODE-506261) , FACE VALUE-RS 1
ABOUT THE COMPANY :- MODISON was founded as a trading unit in 1965, by Mr. G.L. Modi,
to deal in tool steels and export of engineering and general merchandise.
A decade later in 1975, Mr. G.L. Modi established the first manufacturing facility in Mumbai
(Bombay), for refining of silver and started exporting large quantities of refined silver to renowned
bankers and dealers in Europe and U.S.A. MODISON was instrumental in establishing '999' Good
Delivery Silver Bars in India for bullion trading.
Today, MODISON Group has plants at two locations in Western India at Vapi and Silvassa,
employing more than 350 people. MODISON is the only company globally manufacturing electri-
cal contact materials and finished contacts for low, medium and high tension switchgear industry
under one roof starting from Silver Refining to producing all the contact materials ( Ag Alloys,
CuCr, CuCrZr, ETP, OFC, Cu-Ag 0.1%, CuNi2Si etc. ) by Powder Metallurgy or by melting & alloy-
ing is carried out in house. In addition having state-of-the-art Electron Beam Welding machines,
VIM furnaces, CNC Machining Centers and Ag plating plant all under one roof, is an added com-
petitive edge. This helps in faster development and supply of economical and quality products
meeting customers' expectations.
WHY MODISON METALS
" This is the well renown co. in making silver contractor for power industry, and had a good
brand name. Now co. is looking for expansion and also trying to find opportunity for acqui-
sition. Co. is paying constantly dividend Since 2007 and survived in the slow down. Now
co. is broadening its horizon and tapping for growth.
" Company had previously signed up technical collaboration with DODUCO KG, Germany,
the world's leading manufacturer of contact materials. The excellent technical support from
DODUCO helped MODISON develop many hi-tech products, which were hitherto, imported
by Indian Switchgear Industry. Currently company has the technical know- how of com-
plete product offering.
" Modison is the only player in the MV & HV segment in India and one of the top 3 compa-
nies globally; and the largest player in the LV segment.
" Modison enjoys 80% market share in India for MV & HV segment being the only player.
Similarly holds 30% market share in LV segment.
" Company is trading at P/E of Just 12.73 compared to its competitor Eon electric having P/
E of 29.98 & Veto switchgears at P/E of 22.34.
" PAT IS 14.08 crs in March 2017 compared to 6.56crs in March 2013.Backed by margin
expansion, lower interest costs and higher income, the company's net profit increased by
60% YoY during the 9 months period. Already company last fiscal net profit 10.8cr crossed
with in first 9 months of current fiscal by reporting net profit of 11.4 cr.
" Expected target 180-200 in Long term( A Multibagger into making)
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 22
Smart Picks Rohan Nalawade - Expert in financial analysis (Mumbai )

Nifty is in tight range (10000-10100)

We had rightly stated in our earlier edition that profit booking will take place at higher levels and
we had also stated that August series monthly expiry will be in a smaller range and will not be big
movement of 500 points like July series ,last week we did see 150 down nifty from its weekly high
10137 and bank nifty 400 points down from its weekly high 25198 banking stocks SBI ICICI axis
fell the most from banking sector ,profit booking was needed as traders booked at higher levels
and will like to accumulate buy position at lower levels in range of 9850-9980 levels for the next
move shortly next week is very important for market according to w.d.gann price and time cycle
which will dictate the next trend of market for the month of August ,Nifty has to cross 10050 for
getting some strength for upside and 10137 on weekly closing for the next upside target. So
consolidation will be seen next week in nifty and next move will start ,markets should sustain the
above mentioned support levels so next week fresh trend can be expected for 20-50 days in period
Monday is important to watch out .
PMI index plunged from Junes eight month high of 53 to 45.9 in July its lowest level since
September 2013 ,
Next week SBI result will have effect in market next week ,Global markets are steady and in
employment data of USA on Friday 4 August ,if shows good sign then in. September Fed monetary
policy meet rate hike can be seen,
Nifty is closing above 10000 below 9988 selling pressure can be seen and only above ,10100
closing will gain strength for buying in market
W.d.gann. theory price trading session is on September 9 in Delhi and
On16 the Mumbai ,so those interested text on wattsapp 9619047123
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 23
VKJ Infra Developers Ltd
Solid Prospects Ahead
VKJ Infra Developers Limited is engaged into construction of Indus- Corporate Feature
trial & Residential Complexes. It has huge set up of state of the art ultra
modern equipments for construction activities, civil & structural construc-
tion and infrastructure sector projects.
VKJ Infra Developers plans to raise the fund through Preferential Issue.
The company is planning to raise funds through preferential issue at a
price of Rs.12 per share including premium of Rs.11 per equity share. It is
going to acquire 100% stake in a Company to make a Wholly Owned Sub-
Rs. 6.70 (F. V. : 1.00)
sidiary, having a land spread across 6 acres area covered under land pool-
BSE Code : 536128
ing policy notified by the Ministry of Urban Development. It will start con-
struction involving cost of around Rs. 120 Crores. The Land Pooling is a concept where small chunks
of land are owned by group of owners who assemble for the development of infrastructure as per the
provisions of the Delhi Development Act 1957.
The company was incorporated as VKJ Infra developers Private Limited under the Companies
Act, 1956 pursuant to Certificate of Incorporation dated March 12, 2010 bearing registration num-
ber 200014 issued by the Registrar of Companies, Delhi. Subsequently, the company was con-
verted into a public limited company under the Companies Act and the name was changed to VKJ
Infra developers Limited pursuant to fresh certificate of incorporation consequent upon change of
name on conversion to public limited company dated May 29, 2013 issued by the Registrar of
Companies, Delhi. Currently, the company sub-contracts specific construction and execution work
related to projects to third party contractors. As soon the company receives new contract, it initiates
the process of finalizing the sub-contractor for execution of the same and enter into a sub-contract
agreement.
The company also plans to enter into construction of Affordable Housing with alternate technolo-

The Directors Of Company

Mr. Manoj Kumar ,aged 37 years ,is the Whole Time Director of our Company. He has
completed his Bachelors degree in Arts from Delhi University. He is having an experience
of over 10 years in buying and selling of properties. He looks after the day to day business
and operations of our Company.
Mr. Arun Kumar Chalukya, aged 44 years, is the Non Executive Director of our Com-
pany .He has completed his Bachelors in Commerce from Delhi University..Further , he is
having an experience of over 20 years in the field of real estate development and logistics
sector .He was appointed as Non Executive Director of our Company from June 26,2013.
Mr. Ayush Golash, aged 23 years, is a NonExecutive Independent Director of our
Company .He has completed his Bachelors in Computer Application from Guwahati Uni-
versity .He is having a family business of Property dealings and real estate development
and his experience in this field comes naturally to him .He was appointed as an Indepen-
dent Director of our Company from June 26,2013.
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 24

gies under Affordable Housing Scheme 2017 launched by VKJ Infra Developers is plan-
Prime Minster Narendra Modi to fulfil the dream of home-
less people across the nation. Also Affordable Housing in ning to raise fund through
Partnership with Public & Private sectors is on cards. The preferential issue at a price of
company plans to acquire the land for above mentioned Rs.12 per share, which is
constructions under PMAY. Pursuant to Pradhan Mantri almost double than current
Awas Yojana 2017, the Government is providing assis-
tance to buy and to construct or repair a house. Besides market price of around Rs.7
this, the government is also providing a home loan under
Pradhan Mantri Awas Yojana for providing benefits of these scheme to the genuine needy.
VKJ Infradevelopers Limited is in the process of setting up joint venture with a Real Estate Giant
whereby it would benefit substaintially with the thrust on infrastructure sector by the Government
allocating Rs. 4 lakh crore investment in the sector. Also VKJ Infra is planning major expansion
whereby it has identified several new sites all over India for constructing multi storeyed housing &
industrial complexes, for which it is planning major acquisitions of land parcels. The company is
further planning to enter into Road Construction business whereby it will construct Road and Bridges
on Highways through Government Tenders in which Revenues & Profitability will boost
substaintially.
Companys promoters are Mr. Manoj Kumar, Mr. Arun Kumar Chalukya, Mr. Rajesh Kumar Chauhan
and SSD Real Estate Developers Private Limited. Company was initially promoted by Mr. Vivek Kumar
Jain and Mr. Dinesh Pandey. Mr. Nitin Kumar Jain and Mr. Sushil Kumar became the Directors of the
Company in April and May 2010 respectively and acquired the Equity Shares from erstwhile promoters
in October 2011. Current Promoters acquired the Company on October 1, 2012. As Modi Government
has focused heavily on Infrastructure sector,
-VKJ Infra is going to acquire there is huge opportunity in this sector where,
100% stake in a Company to the VKJ Infradevelopers Limited is going to in-
make a Wholly Owned Subsidiary, vest in a big way. So, VKJ will benefit signifi-
cantly from government policy and overall infra-
having a land spread across 6 structure growth story. VKJ Infras stock is trad-
acres area covered under land ing at around Rs.6.95, having face value of Rs.1
pooling policy notified by the Min- for each equity share. As the company has de-
cided to allot equity shares on preferential basis
istry of Urban Development. It will at Rs.12, which is almost double than current
start construction involving cost of market price, the stock will rally in short to me-
dium term. The stock will give good return going
around Rs. 120 Crores.
forward.
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 25
Nilesh S. Kotak
Value Buy (Mob. : 8866004076)

Fundamental Analysis of
FERRO ALLOYS
Work Profile
Ferro Alloys Corporation Limited incorporated in 1995 is one of the India's largest producers
and exporters of Ferro Alloys, an essential ingredient for manufacture of Steel and Stainless Steel.
It exports to several countries like Korea, Japan, Italy, Netherlands, USA, Turkey, China & Taiwan.
Chairman & MD: Mr. R.K. Saraf
Location: CCP located at Randia, Distt. Bhadrak (Orrisa) and Mines namely Boula, Kathpal,
Ostapal, Bhimthal & Sukhinda in Orrisa.
Business Activities: Manufacturing High Carbon Ferro Chrome & Charge Chrome at CCP and
Mining of Chrome Ore at Mines
Ferro Alloys Management has dual strengths as they are the Manufacture of Steel (Through
Subsidiaries) as well as the Steel raw materials.
Capacity: 65000 TPA Charge Chrome and 2,50,000 TPA Chrome Ore.
Shareholding Pattern:
Promoter Group: 74.99%
Public Holdings: 25.01%

(Banks/Mutual Funds: 0.01%

Government: 0.02%
Others: 24.98%)

Technical Profile:
Market Cap: 202.72 Cr.
Stock P./E.: 10.06, Industry P./E.: 11.11
Current Price: 8.70
Dividend Yield: 0.00%
Book Value: 14.82
Face Value: 1
52 Week High/Low: 13.48/4.36
Financial Weekly

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6th August 2017 to 12st August 2017 26
Peer Comparison

Notes: Sales Figures are fairly Positive compare to the Peers. Quarterly Net Profit is also high.
Current Price is acceptable & can be able to grow further.

Annual Results (In Crores) (Standalone)

Div
CMP Mar Cap Yld NP
Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar-
05 06 07 08 09 10 S.No.
11 12Name 13 14 Rs.
15 P/E
16 Rs.Cr.
17 % Rs.
154.68 145.38 195.19 312.57 310.23 348.58 1
494.52 486.92Vedanta
534.21 651.14 22 9.4 569.33
602.7 10.57 611.44
85,272.44 1.22 2,988
es 115.65 124.28 159.41 226.52 255.29 326.19 432.14
2 470.73JSWS
482.96
teel 585.49 19
560.1
2.1 560.34
12.98 561.36
46,434.80 0.39 1,003
ng Profit 39.03 21.1 35.78 86.05 54.94 22.39 62.38
3 16.19IndianMetals
51.25 65.65 42.6
428 8.99
4.62 50.08
1,154.62 0 1
%)
ncome
25.23
3.8
14.51
6.35
18.33
2.18
27.53
3.69
17.71
4.01
6.42
14.35
12.61
4
9.14
3.32 9.59
MaithanAl loys
5.37 4.04
3.46
10.08
1.66
7.07
432 1.58
6.36
5.68
6.9
1,257.47
5.66
0.46 102

4.43 2.79 4.43 4.85 2.45 3.04

5
2.85
Kaly aniSteels
13.88 15.14
40 8.2
15.07 16.55
11.43
17.89
1,781.98
15.2
0 37
6 TataMetaliks 73 7.7 17.93 1,865.64 0.27 40
ation 23.34 7.96 8.16 9.23 9.91 10.24 9.98 9.76 9.19 9.27 4.96 4.68 5.44
efore tax 15.06 16.7 25.37 75.66 46.59 23.46 7
58.69 Kirl.Ferrous
-2.08 30.95 98 .35
42.96 24.56 14.91
-7.9 1,350.42
35.1 1.27 13

9.04 5.22 9.28 26.41 17.99 9.44 8

21.25 1.32FerroAlloysCor
5.16 10 .94
11.6 5.5 10.06
-3.77 202.72
14.95 0 16
fit 6.02 11.48 16.09 49.25 28.6 14.02 37.44 -3.4 25.79 31.36 19.07 -4.13 20.16
adj) 0.69 0.62 0.84 2.57 1.5 0.72 1.98 0 1.39 1.69 1.03 0
0 0 17.2 8 18.82 16.19 26.46 12.37 0 0 0 0 0

Notes: Overall results are fairly good. Their operating profits have increased considerably com-
paring to their last year's performance. Depreciation cost has again fairly stable. Net profit has also
increased.
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 27
Balance Sheet (In Crores)(Standalone)
Mar- Mar- Mar- Mar- Mar- Mar- Mar- Ma r- Mar- Mar- Mar- Mar-
05 06 07 08 09 10 11 12 13 14 15 16
re Capital 23.53 20.79 20.79 18.5 3 18.53 18.53 18.53 18.53 18.53 18.53 18.53 18.53
erves 35.31 50.25 62.96 102.3 125.48 135.18 167.2 163.8 189.63 221 240.06 235.93
ro wings 41.92 46.15 38.66 25.0 4 27.48 21.1 46.69 109.3 139.62 112.2 100.76 83.84
er 63.01 52.69 49.96 59.5 8 60.74 75.83 91 109.2 90.41 127.9 125.2 135.14
bi lities
al 148.91 167.62 1 70.11 205.45 232.23 250.64 323.5 400.9 438.19 479.6 484.55 473.44
bilities
d Assets 70.05 77.09 75.85 70.3 9 72.02 88.1 84.48 77.22 77.47 87 87.16 98.24
IP 0.55 6.16 5.04 3.9 9 2.39 1.2 4.75 15.26 15.48 10.23 14.8 9.66
stments 0.1 0.1 0.16 2.1 6 4.77 21.85 64.2 144 161.52 187.3 219.21 219.18
er Assets 78.21 84.27 89.06 128.91 153.05 139.49 170 164.4 183.72 195.1 163.38 146.36
a l Assets 148.91 167.62 1 70.11 205.45 232.23 250.64 323.5 400.9 438.19 479.6 484.55 473.44

Note: Balance sheet is fairly Positive & Company is showing the up move trend.

Cash Flow (In Crores) (Standalone):

Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar- Mar-
05 06 07 08 09 10 11 12 13 14 15 16
m Operating -0 .29 5.46 15.38 54.99 6.8 39.93 29.3 3 66.95 6.95 82.47 69.97 32.16

m Investing 1 .25 -18.95 -5.35 -3.51 -10.68 -40.28 - - - - -40.32 -10.13

46.1 5 90.99 26.42 38.97
m Financing 8 .53 5.25 -7.43 -21.51 -11.67 -9.82 8.8 5 31.27 12.57 - -29.08 -20.92
43.39
Flow 9 .49 -8.24 2.6 29.97 -15.55 -10.17 -7.9 7 7.23 -6.9 0.11 0.56 1.11

Note: Sufficient Liquidity to run the Business.
Some Important Aspects:
- Company has immense growth potential.
- Stand alone profit will rise significantly based on their Marketing campaigns globally.
- They want to open the Thermal Power Projects As well in near future.
- Steel Prices will decide the Profit margin in upcoming years.

Advantages:
Stock is trading 0.74 times its book value.
Disadvantages:
- Company has delivered a poor growth of 2.86% since last 5 years.
- Company has a Low Return on Equity of 6.55% for last 3 years.
- Contingent Liabilities of 66.81 Cr. Rs.
- Promoters have pledged 50.39% of their holding.
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 28
Technical News : 7-8-2017 to 11-8-2017
SEBI REG:- RESEARCH ANALYST- INH300002449

NIFTY FUTURE
NIFTY FUT SUPPORT AT 9940-9900 AND RESISITANCE 10150-10240
STRATEGY :- BUY BANK NIFTY ON DIPS TILL 24700 SL 24500 TA 25200-450
STOCKS F&O:-
JINDAL STEEL (139) :- BUY JINDAL ON DIPS TILL 136 SL 132 TA 150-54
BAJAJ FIN (1710) :- BUY BAJAJ FIN ON DIPS TILL 1700 SL 1675 TA 1780-1800
RBL BANK (510) :- BUY RBL BANK ON DIPS TILL 500 SL 494 TA 534-40
RCAP (748) :- BUY RCAP ON DIPS TILL 735 SL 728 TA 765-80
SELL STOCKS
SELL CEAT ON RISE TILL 1780 SL 1824 TA 1700-1675
SELL HDIL ON RISE TILL 81 SL 84 TA 72-68
DELIVERY STOCKS
BUY KAYA LIMITED SL 850 TA 980-1000
DISCLAIMER :- The Recommendations are based on technical analysis. There is a risk of loss
in trading.Please visit website www.dallalstreet.org for full disclaimer and disclosures.

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Financial Weekly

SMART
INVESTMENT
6th August 2017 to 12st August 2017 29
Terrific Shots - Dilip K. Shah

KEC International (Rs.298.00) (Code:532714) :- The expansion plans of railway

and power sector may help the company to perform better. It is active in infrastructure engineering,
procurement, construction segments. It is also engage in power transmission, power systems,
cables, railways, telecom and water segment. It has its presence in 50 countries in Africa, America,
Central Asia, Middle East, South East Asia and South Asia. In June quarter, the company's income
increased from Rs1748.74 crore to Rs1892.11 crore, while profit increased from Rs30.91 crore to
Rs62.97 crore. The company's equity is Rs51.42 crore, while reserves are Rs1500 crore. The
company has been bagging new orders from foreign countries. It may bag new orders in EPC
sector and power sector as well. It can be invested with one year view.
TCPL Packaging (Rs.635.00) (Code:523301) :- Earlier it was known as Twenty
First Century Printers Ltd. It is active in packaging field and owns factories in Silvasa, Goa and
Haridwar. It provides packaging solutions to cigarette, liquor, food, FMCG, automobiles, station-
ary, pharmaceuticals and airline industries. The company's market cap is Rs556 crore at current
market. The price remained between Rs780 and Rs486 during the year. As against equity of Rs8.7
crore the company has reserves of Rs169.22 crore. In March quarter, the company's income de-
creased from Rs157.75 crore to Rs145.44 crore, while profit decreased from Rs9.42 crore to Rs5.49
crore. The higher growth of packaging sector makes the stock interesting. It paid 62.5% dividend
for FY2017.
Ultramarine & Pigments (Rs.197.00) (Code:506685) :- The specialty chemical
company's stock witnessed 52 week high of Rs212 and low of Rs133. Pigments account for 28%
of total manufacturing of the company, while surfactant account for 59% stake. Moreover, ITES
accounts for 12% stake. It is active in inorganic pigment, organic certificashant and dry mix deter-
gent. It owns two units at Chennai and Ranipack. It supplies it products in 40 countries. Its equity is
Rs5.84 crore, while fixed assets is Rs60 crore. The company has been paying rewards to share-
holders for past 50 years. In FY 2017, the company witnessed net profit of Rs32.40 crore on in-
come of Rs255.41 crore and other income of Rs2.17 crore and EPS of Rs11.10 crore on equity of
Rs5.8 crore. It declared 200% dividend. The first quarter results will be announced on August 11,
2017. It may touch Rs250 level.
Aditya Birla Fashion (Rs.172.00) (Code: 535755) :- The market cap is Rs13348
at current market price. The promoters hold 59.25% and public hold 40.75% stake. It has become
the largest fashion entity of the country with Madura Fashion Division, Pantaloons Fashion and
Retail, Madura Fashion and Lifestyle, etc. It owns fashion brands like Louis Phillipe, Van Heusen,
Allen Solley, Peter England, etc. It is present in 375 cities and towns through 7000 points and 2000
outlets. In FY 2017, the company's income increased from Rs6060.05 crore to Rs6602.86 crore,
while the company's recorded profit of Rs53.50 crore against losses of Rs104.14 crore. In June
quarter, the company's income increased from Rs1411.94 crore to Rs1769 crore, while it witnessed
losses of Rs2082 crore as against losses of Rs20 crore. The stock has been in consolidation
range for quite some time. It can be invested in phased manner.

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

SMART
INVESTMENT
6th August 2017 to 12st August 2017 30
Sarvesh Ashok Trivedi
Stock Wave (Mumbai) (Mob) 09820728124
www.chartsanketstock.com

Important support for Index

at 32107 and Nifty Future at 10,000
BSE Index (32325.41) :- It is moving upward from bottom of 30680.65. It shows overbought
position on daily, weekly and monthly basis. On upward movement, beyond 32435 it may go up to
32561 with resisting level at 32687. On downward movement, below 32107 shows weak position.
Nifty Future (10108.55) :- It shows improvement from bottom of 9451.50. It shows overbought
position on daily, weekly and monthly basis. On upward movement, beyond 10150 it may go up to
10185 and 10225. On downward movement, below 10,000 it shows weak position.
Bank Nifty Future (24951.15) :- It shows improvement from bottom of 23007.05. It shows over-
bought position on daily, weekly and monthly basis. On upward movement, beyond 25060 it may
witness resisting level at 25270. On downward movement, below 24695 it shows weak position.
BATA (631.35) :- It is moving upward from bottom of 507.60. It shows overbought position on
daily, weekly and monthly basis. On upward movement, beyond 637 it may be in range of 650 to
663. On downward movement, below 623 it may go down to 610 with support at 592.
IOC (418.95) :- It is improving from bottom of 364.10. It shows oversold position on daily, weekly
and monthly basis. On upward movement, beyond 429 it may go up to 435. On downward move-
ment, below 390 it could get support at 385.
Jubilant Food (1279.30) :- After witnessing 1338 level, it is witnessing profit booking. It shows
oversold position on daily basis, while overbought position on weekly and monthly basis. On up-
ward movement, resisting level could be at 1306. On downward movement, below it may go down
to 1207, 1175 with support at 1168.
Tata Steel (575.86) :- It is moving upward from bottom of 420.40. It shows overbought position
on daily, weekly and monthly basis. On upward movement, resisting level could be at 585. On
downward movement, support could be at 554.
Zee Entertainment (541.85) :- Having touched 560 level it is witnessing profit booking. It shows
overbought position on daily and weekly basis, while neutral position on monthly basis. On up-
ward movement, resisting level could be at 551. On downward movement, below 532 it may go
down to 527, 521, 515 with support at 510.
disclosure : The Recommendations are based on technical analysis. There is a risk of loss in
trading.

-: Golden quote :-
If you work really hard and are kind,
amazing things will happen
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 31
Dilip Davda Best Buy
e-mail Experts Eye TRENT,
dilip_davda@rediffmail.com Vakrangee
UPL

Yet another new high in RBI policy meet week

For the week while we had auto and cement sector July dispatches data on one hand, on the
other we were having RBI monetary policy meet. Also global economic data too were at the center
stage. However, post GST implementation, Auto sector has posted robust growth in dispatches.
Cement has shown mixed trends. But RBI announced 25 bps repo rate cut in line with expecta-
tions and failed to cheer the market. Global trends too were having mixed trends. Despite all odds,
we marked another new high during the week. While Nifty broke 10K level in intraday for last two
sessions, Sensex floated above 32K for entire week.
During the week, indices moved in the range of 10137.85-9988.35 and 32686.48-32107.99 for
NSE Nifty and S&P BSE Sensex respectively.
Secondary Market ;- On Monday markets opened on a positive note and gained for the day on
expectation of rate cut from RBI in its monetary policy. NSE Nifty scored 62.60 points to close at

Bonus Announced 10077.10 and BSE Sensex gained 205.06 points to end the
day at 32514.94. Thus week marked opening with positive
Loyal Equipments (1 : 2) trends. Banking sector lead the rally and got support from Auto,
Metal, Consumer Durables, Power, Capital Goods and Reli-
Ex-Bonus ance Ind. However, Mid and Small cap counters met with profit
booking turning market breadth negative. FIi were the net sell-
Jayant Agro (1 : 1) ers for the day while DIIs were the net buyers.
Viji Fin. (1 : 10)
On Tuesday too markets opened firm and with both side
movement, finally closed in green with some gains. NSE Nifty
Ex-Split gained 37.55 points to end the day at 10114.65 and BSE
Coral India (5 for 1) Sensex scored 60.23 points to close at 32575.17 and thus new
closing highs were marked by both bourses. Index based rally
During the Week continued as Mid and Small cap counters met with profit book-
Dividend Announcements ing at every rise. Auto index lead the rally and got support from
Metal and Mining counters. Indices closed at new historic highs.
Balkrishna Ind (125%),
FIIs were the net sellers and DIIs were the net buyers for the
Balrampur Chini (250%), Godrej day. Loyal Equipments announced bonus issue in the ratio of
Consumer (100%), Hexaware 1 share for every 2 shares held. Jayant Agro turned ex-bonus
Techno (50%), Kriti Ind (15%), Kriti (1 for 1).
Nutrients (12%), Abirami Fin (3%),
Although marked opened on a firm note on Wednesday it
Ceejay Fin (15%), GTPL Hathway
gave up post noon despite RBI announcing 25 bps rate cut on
(10%), Kanpur Plast (18%), expected lines. NSE Nifty lost 33.15 points to close at 10081.50
Medicamen Bio (10%), Transpek and mirroring similar trends, BSE Sensex marked deficit of
Ind (90%), Majesco (20%), Avantel 98.43 points to end the day at 32476.74. Market that was al-
(20%), Man Infra (27%), Rishabh ready discounting rate cut possibility finally met with selling
Digha (15%), Hi-Tech Gears spree on announcement of 25 bps repo rate cut. Before react-
(12.5%) etc. ing sharply post noon, benchmarks marked new historic
Financial Weekly

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6th August 2017 to 12st August 2017 32
intraday highs. Mid and Small cap selling continued for the third day in a row. FII turned net buyer
in cash but remained net seller in futures. DIIs were net sellers. SiS IPO got oversubscribed by
7.07 times.
On Thursday markets opened flat but with divergent trends. Profit bookings at higher level in an
overbought market finally brought another negative session of the week. NSE Nifty marked deficit
of 67.85 points to end the day at 10013.65 after touching low of 9998.25 in intraday. BSE Sensex
too marked loss of 238.86 points to close at 32237.88. While RIL marked recent new high, Banking
counters lead the doom and got support from Auto, Metal counters. Mid and Small cap selling
spree continued despite result season. FIIs were the token net buyers in cash but sellers in futures.
DIIs were the net sellers for the day. CSL IPO got oversubscribed by 76.19 times. Coral India Fin
turned ex-split (5 for 1).
On Friday markets opened on a sluggish note amidst weak global cues, but weekly trader's
short covering helped it to close on a positive note and thus it snapped previous two sessions
losing streak. NSE Nifty scored 52.75 points to close at 10066.40 and BSE Sensex gained 87.53
points to end the day at 32325.41. Nifty marked intraday low of 9988.35. Consumer Durables,
Metal, Power, Auto, Oil and Gas, Banking, FMCG counter were up while Healthcare and Telecom
counters were down. Mid and Small cap indices outperformed benchmarks despite negative mar-
ket breadth. FIIs were the net sellers and DIIs were the net buyers for the day. Viji Fin turned ex-
bonus (1 for 10).
In a RBI monetary policy announcement week, NSE Nifty and BSE Sensex marked net weekly
GAINS of 51.90 and 15.53 points respectively.
Rupee firmed up to last two year's high of around Rs. 63.60 a dollar. Crude Oil kept moving
northward to mark 52+$ a barrel and raised concern.. Q1 result season will continue to dominate
stock specific movement. Inflation data and IIP data will be at the center stage for the week.
Amidst such a scenario, NSE Nifty and BSE Sensex may hover between 10200-9700 and 32850-
31750 respectively for the ensuing week.
Global Space is getting listed on BSE SME on 07.08.17. Sintex Plastic is getting listed on BSE
in "T" group on 08.08.17. Power Finance board to consider bonus issue on 10.08.17.
Scrip Watch :- Investors may keep following scrip on radar that is gaining grounds with better
performances:

Trent (BSE Code: 500251) :- This Tata group departmental store sector company
has reported net profit of Rs. 38.15 crore on a turnover of Rs. 515.19 crore for Q1 of FY18 against
net profit of Rs. 23.30 crore on a turnover of Rs. 413.88 crore for the corresponding previous period.
For FY17 it posted net profit of Rs. 106.86 crore on a total revenue of Rs. 1797.04 crore. As on
30.06.17 it's paid up equity capital of Rs. 33.23 crore is supported by free reserves of Rs. 1545
crore plus. Scrip may be considered at declined levels for medium to long term investment. It cur-
rently quotes around Rs. 279.15 against 52 week High/Low of Rs. 300/177, FV Re 1.

Vakrangee (BSE Code: 511431) :- This specialty retail sector company has
(on a consolidated basis) posted net profit of Rs. 168.03 crore on a turnover of Rs. 1301.85 crore
for Q1 of FY18 against net profit of Rs. 121.49 crore on a turnover of Rs. 917.54 crore for the
corresponding previous period. For FY 17 it earned net profit of Rs.530.80 crore on a turnover of
Rs. 4000.46 crore. As on 30.06.17 it's paid up capital of Rs. 52.94 crore is supported by free
reserves of Rs. 2168 crore plus. Scrip may be considered at declined levels for medium term in-
vestment. It currently quotes around Rs. 448.75 against 52 week High/Low of Rs. 459/164, FV Re.
1.
Financial Weekly

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6th August 2017 to 12st August 2017 33
UPL (BSE Code: 512070) :- This specialty agro chemical sector company has (on
a consolidated basis) posted net profit of Rs. 487 crore on a turnover of Rs. 3851 crore for Q1 of
FY18 against net profit of Rs. 360 crore on a turnover of Rs. 3644 crore for the corresponding
previous period. For FY17 it posted net profit of Rs. 1752 crore on a turnover of Rs. 16680 crore. As
on 30.06.17 it's paid up equity capital of Rs. 102 crore is supported by free reserves of Rs. 7700
crore plus. Scrip may be considered for medium to long term investment. It currently quotes around
Rs. 886.50 against 52 week High/Low of Rs. 902/584, FV Rs. 2.
DISCLAIMER : No financial information whatsoever published anywhere here should be con-
strued as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter
published here is purely for educational and information purposes only and under no circumstances
should be used for making investment decisions. Readers must consult a qualified financial advi-
sor prior to making any actual investment decisions, based on information published here. Any
reader taking decisions based on any information published here does so entirely at own risk.
Above information is based on the details available as on the date along with market perceptions.
Author has not traded in above three stocks mentioned in Scrip Watch during last one month and
has no holdings or plans to invest in any scrip referred above.
(THE AUTHOUR IS SEBI REGISTERED RESEARCH ANALYST) (Email:
dilip_davda@rediffmail.com )

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Financial Weekly

SMART
INVESTMENT
6th August 2017 to 12st August 2017 34
Scrip Watch - Dilip K. Shah

Supreme Ind. (Rs. 1102.00) (Code : 509930) (F. V. : 2.00) :- De-stocking of

inventories at dealers level had put a dent on volume of Supreme Industries (SIL) by 5% during
Q1FY18. Piping, packaging and consumer products category had impacted largely (due to GST
transition) wherein segment sales declined by 3%, 7% and 4% YoY during Q1FY18. Industrial
product segment sales recorded a growth of 10% YoY mainly due to better demand from consumer
appliances industries. Contribution of value-added products categories decreased from 35% to
32% in Q1 FY18. The results are muted. However, tomorrow is better for the company. The stock
has corrected after results from Rs.1250 on 11th July, to Rs.1100 on Friday. It is good opportunity
to enter into this counter as the fundamentals are strong.
Bharat Electronics (Rs. 178.00) (Code : 500049) (F. V. : 1.00) :- Bharat
Electronics Ltd. consolidated revenue for the quarter came in at Rs. 1772 crore, registering 96.3%
yoy increase. Net profit ws at Rs. 125 crore, yoy increase of 248 %. The company reported EBITDA
profit of Rs 163.3 crore vs. loss of Rs 46.7 crore in Q1FY17. We estimate EBITDA of Rs 55.7 crore
for the quarter. EBITDA margins came in at 9.5%.Bharat Electronics' order book as on 1 July 2017
stood at Rs 41052 crore. BEL will be a key beneficiary of the on-going defence modernisation and
government's focus on higher indigenous content in defence procurement. Improvement in order
inflow, robust order pipeline and positive earnings surprise, we anticipate re-rating in the stock to
continue. The Government of India held 68.18% stake in Bharat Electronics (as per the shareholding
pattern as on 30 June 2017).The large-cap company has equity capital of Rs 223.36 crore. Face
value per share is Re 1. Buy this stock at current level and at every decline.
Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; I and / or my clients may have investment in this
stocks I/My family have no financial interest or beneficial interest of more than 1% in the company whose stocks I am recommending Stop loss is useful for Short /
Medium Term investor Only Smart Investment will not be responsible / liable for any loss arising out of investment based on tis advices Past performance may or may
not be substainedin future " (Dilip K. Shah) Research Analyst : SEBI Regn No. : INH000002152

Nayan Patel
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Financial Weekly

SMART
INVESTMENT
6th August 2017 to 12st August 2017 35
Market Tips - Dilip K. Shah

Lupin (Rs. 992.00) (Code : 500257) (F. V. : 2.00) :- Indias second largest drug
maker, Lupin, on last Wednesday, announced poor results. However, it has said the worst is over
for the company as it sees stabilisation of base business and expects to launch 30-35 generics this
fiscal to offset the loss of its top-selling generic diabetes drug, Glumetza, in the US market. Lupin's
net profit fell 59.4 percent in the June quarter due to steep price erosion of generic Glumetza in the
US, destocking ahead of GST and a stronger rupee. The company reported a net profit of Rs
358.06 crore compared with Rs 881.95 crore a year ago, while sales fell 12.3 percent to Rs 3,806.83
crore. The company's EBITDA margin stood at 21 percent in the June quarter. Lupin said it will
settle for the 21-23 percent EBITDA margin this year compared to 27 percent in FY17.The com-
pany is expected to launch generics that include limited competition drugs such as anti-flu drug
Oseltamivir, Lanthanum Carbonate tablets (to treat patient with chronic kidney disease, or CKD)
and anti-thyroid deficiency medication Levothyroxine, among others. Accumulate.
Pidilite (Rs. 808.00) (Code : 500331) (F. V. : 1.00) :- Adhesives and industrial
chemicals manufacturer Pidilite Industries reported a 16.77 per cent decline in consolidated net
profit at Rs 226.51 crore for the first quarter ended June 30, 2017. Total income from operations
during the quarter under review stood at Rs 1,712.49 crore as against Rs 1,715.38 crore in the
year-ago period. Performance in this quarter was impacted by the short term challenges of transi-
tion to GST largely as a result of destocking by customers in June as well as an upward trend in
some key raw material prices.Overseas business declined by 19% YoY due to divestment of US
Cyclo business in US while sales were marred by floods in Bangladesh and Sri Lanka. Pidilite
Industries is a leading manufacturer of adhesives and sealants in the country. The company oper-
ates in two major segments consumer and bazaar (C&B), and industries. The C&B segment
covers a wide range of products for consumers and craftsmen. The company is the market leader
in both categories in the country and caters to both the domestic and international markets. The
stock is poised to start new upward movement. It will cross Rs.900 level before Diwali.
HCL Technologies (Rs. 890.00) (Code : 532281) (F. V. : 2.00) :- India's
fourth-largest software services exporter HCL Technologies on Thursday reported a 6.1 per cent
increase in consolidated net profit at Rs 2,171 crore for the first quarter ended on June 30, 2017.
The company had posted a net profit of Rs 2,047 crore in the year-ago period. Consolidated rev-
enues grew 7.2 per cent to Rs 12,149 crore in April-June 2017 as against Rs 11,336 crore in the
same quarter of 2016-17. In dollar terms, the company's net profit increased 10.3 per cent to USD
336.7 million in the reported quarter, while revenues grew 11.4 per cent to USD 1.88 billion.HCL
Technologies maintained its revenue growth guidance of between 10.5-12.5 per cent in constant
currency terms. It also expanded EBIT margins from 20 per cent to 20.1 per cent. It is one of the
safest bet in IT sector. Accumulate.

Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; I and / or my clients may have investment in this
stocks I/My family have no financial interest or beneficial interest of more than 1% in the company whose stocks I am recommending Stop loss is useful for Short /
Medium Term investor Only Smart Investment will not be responsible / liable for any loss arising out of investment based on tis advices Past performance may or may
not be substainedin future " (Dilip K. Shah) Research Analyst : SEBI Regn No. : INH000002152
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 36
SMART TIPS Smita N. Zaveri

JK Paper (Rs. 90.00) (Code: 532162) :- Shares of this paper and paper products
company are listed in the B Group on BSE and have face value of Rs. 10. The shares touched a
high of Rs. 123 and low of Rs. 52 in the last 52 weeks. The company has manufacturing units in
Surat and Odisha, with a network including more than 200 distributors and over 3,500 dealers. The
company has manufacturing capacity of 90,000 tonne per annum. It has the highest market share
in copier paper, and is also doing well in coated paper and packaging board segment. For the
quarter ended June 30, 2017, JK Paper reported 5% rise in income at Rs. 672 crores, whereas
profit more than doubled from Rs. 26.66 crores to Rs. 60.11 crores. For FY 2016-17, it had reported
income of Rs. 2,764 crores, and profit of Rs. 162.83 crores. Looking at the strong demand for paper
and paper products, the share can be seen touching Rs. 140 - 150 levels in 4 to 6 months.
Jindal Steel (Rs. 138.00) (Code: 532286) :- Shares of this iron and steel producer
are listed in the A group of BSE and have face value of Re. 1. The shares touched a high of Rs. 159
and low of Rs. 62 in the last 52 weeks. It is also present in power and other segments. Its steel
division's capacity stands at 9.94 million tonnes, and that of crude steel at 8.9 million tonnes. It has
manufacturing facilities at Rajjadh, Oman and Angul. Its power division Jindal Power owns a 3,400
MW power plant at Tamnar in Chhattisgarh. A cyclical upturn has been visible in India in the past
few months after China shut down some steel units over pollution concerns. Anti-dumping duty on
Chinese steel has also helped prices. Its income is expected to double by 2020. Linkages with
Coal India will also help it. The company had reported loss in FY 2016-17 and also in the March
quarter, even though it had managed to cut losses in the quarter. It will announce June quarter
results on August 8, and is expected to further cut down the losses. The stock can be seen outper-
forming going ahead.
Virinchi (Rs. 90.00) (Code: 532372) :- The shares of this IT and software products
company are listed in BSE XC Group and have face value of Rs. 10. The shares touched a 52-
week high of Rs. 131 and low of Rs. 39. The Hyderabad -based company provides various ser-
vices including application development, lab services, testing services, etc. Its subsidiary owns a
550-bed hospital in Hyderabad. For FY2017, the company reported profit of Rs. 11.5 crores, which
was 40% higher than the previous year. While income surged by 55% in March quarter, profit was
lower. While its rival are trading at a PE multiple of 15 to 17, its shares are trading at just 10.4 times
the earnings. The stock can be seen crossing Rs. 100 in the short term, and at a fresh 52-week
high in the next four to six months.
Power Grid (Rs. 224.00) (Code: 532898) :- The shares of this electricity utility com-
pany are listed in the A group and have face value of Rs. 10. In the last 52 weeks, the shares
touched a high of Rs. 226 and low of Rs. 167. It is the country's largest power transmission com-
pany. It has started Rs. 20,700 crore worth of projects from FY2016. It is also expected to benefit
from the central government's UDAY scheme for power distribution companies. For the quarter
ended June 2017, Power Grid reported net profit of Rs. 2,052 crores, an increase of 14% over Rs.
1,802 crores last year. Its income shot up from Rs. 6,120 crores to Rs. 7,181 crores. Transmission
segment income was up by 16.4% to Rs. 6,930 crores. The stock is trading at a PE multiple of just
12 as against 18 for other players. The stock is expected to touch new highs going ahead.
SEBI Registered Research Analyst)
* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month All stocks rates / indices on 4th August 2017 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

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INVESTMENT
6th August 2017 to 12st August 2017 37
Smart super duper - Dilip K. Shah

Hexaware (Rs.251.00) (Code:532129) :- The private equity firm Baring Private Equity
Asia bought controlling stake at price of Rs2745 crore in this software company, but after that the
stock has witnessed a considerable correction. The promoters hold 71.45% and public hold 28.55%
stake in the company. It follows December as year ending. In June quarter, the company's income
increased from Rs869.67 crore to Rs983.58 crore, while profit increased from Rs100 crore to
Rs122.42 crore with EPS of Rs4.13. It had bought back shares in January 2017 and also paid
three interim dividends of 50%. It provides IT services to sectors like banking, asset management
and capital market, insurance, travel and transportation, healthcare and life sciences and manu-
facturing. Small investment at lower level could be done.
Jamna Auto (Rs.263.00) (Code:520051) :- The company split the shares with facevalue
of Rs2 to Rs1 in December 2015. It manufactures parabolic springs and tapered leaf for commer-
cial vehicles. In FY2017, the company's income increased from Rs1255.80 crore to Rs1299.46
crore, while profit increased from Rs71.50 crore to Rs104.74 crore with EPS of Rs13.16. As against
equity of Rs39.83 crore, the company has reserves of Rs210 crore. The company is decreasing its
interest expenses. It paid 55% dividend for FY2016. And in FY2017, it paid interim dividend of 30%
and final dividend of 40%. The stock could be considered for investment at current market rate.
Kansai Nerolac (Rs.444.00) (Code:500165) :- Paint sector company has been ben-
efitted from stable crude oil prices. The stock prices remained between Rs461 and Rs302.60 dur-
ing the year. As against equity of Rs53.89 crore, the company has reserves of Rs2760.61 crore. In
June quarter, the company's income increased from Rs1047.05 crore to Rs1324.06 crore, while
profit increased from Rs126.5 crore to Rs140.81 crore with EPS of Rs2.61. The government is
planning to set up 100 new smart cities, which may benefit paint sector companies. The company
may acquire higher market shares. It is also expanding its manufacturing capacity. The stock may
witness improvement in prices with lower volume. The stock made a new high and may improve
further in near future.
I.G.Petro (Rs.449.00) (Code:500199) :- The Goa-based company was set up in 1988.
It produces chemicals which is used in many industries. The promoters hold 72.22% stake in the
company, while public hold 27.72% stake. The company's products are mainly used in paint in-
dustry, and paint industry is witnessing good growth which may benefit the company. As against
equity of Rs30.8 crore the company has reserves of Rs362.53 crore. In FY2017, the company's
income increased from Rs952.84 crore to Rs1037.48 crore, while profit increased from Rs60.36
crore to Rs101.56 crore with EPS of Rs32.98. The stock prices have increased from Rs40 before
three years to Rs500 now. It may give higher return in future as well.

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

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INVESTMENT
6th August 2017 to 12st August 2017 38
A.J. Diwan (Mumbai)
Diwan-E-Khas E-mail : divanconsultancy@rediffmail.com

RBI SPOILED SENTIMENTS

On Wednesday and Thursday we witnessed sell off after RBI policy. The rate cut of 0.25 basis
was expected by the market. Due to pressure from finance division to cut rate, governor oblieged.but
it missed fired on first two days.
The monsoon was satisfactory so far so rate cut was initiated.
On Wednesday index went up by 111 points before RBI meeting. Index touched 32606 marks
but after that lost 93 points at close. On Thursday also selling pressure was continued and index
lost 238 points. On Thursday bull managed to closer nifty above psychological mark of 10000 but
lost 68 points. The market breath was also negative in ration of almost 1;3.
Reliance supported market to close at one year high still market nosedived. If reliance has not
participated we might have seen fall of over 300 points in index and nifty below 10000 mark.
There is no big support from world markets. Dow was up by only 9 points.
The down fall in public and private sector banks continued. We expect further fall in SBI, BOB,
Canara Bank, BOI etc.
Axis bank and ICICI are also looking weak.
In all above banks traders should not trade as bull and short position is advisable with s/l as per
your capacity to bear loss.
It said by experts all housing shares expected to go up, Friends in cut of 0.25 bases what com-
pany will offer to borrowers and what it will keep?
The government is thinking of antidumping duty on any import from china. Recently solar and
energy industry is pin point, if it comes suzlon seems good investment for short term.
In Orissa UN authorized mining are expected to close down. JSW Steel is to benefit from it.jsw
has gone up from rs.216 to rs.223.share is good till it remains above rs.219.
Tata and Airtel merger is put aside. We feel that Tata communication may fall further.
On Thursday bank nifty lost 400 points to close at 24675.it has last support at 24500.
Investors lost hard earned money in pharma stocks. Dr. Reddy, LUPIN and sun pharma are
worst hit.we feel that mutual fund with pharme stocks may get buy back pressure.
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 39
Investment Ideas telegram.me/rupeegains7

Some Super Duper

NIFTY :- For nextweek NIFTY has
strong support around 9985 levels. Break Recommendations in last one year
will take it to 9945/9920 levels. On the Stocks Rec. High (%)
upper side NIFTY will face strong hurdle Rate After

at 10135 levels, cross over with volume Recco.

NATH BIO 148 437 195%
and close above will create short cover-
GOA CARBON 140.45 384 173%
ing at take NIFTY up to 10200 levels
HILTON METAL 26 54 108%
BANK NIFTY :- For next week
BHARAT SEATS 64.65 132 104%
BANK NIFTY has strong support around KOLTEPATIL 102.5 204 99%
24590 levels. Break will take it to 24450 TALBROS ENG 306 530 73%
levels. On the upper side BANK NIFTY LKP FINANCE 80.45 139 73%
will face strong hurdle at 25005 levels, GTN TEXTILE 17.4 29.5 70%
cross over with volume and close above PHYTOCHEM 51.55 85 65%
will create short covering at take BANK SAKUMA EXPORTS 70 114 63%
NIFTY up to 25200 levels VIMTA LAB 109 164 50%
To get free information for trading, in- ROYAL ORCHIED 86 128 49%

vestment, IPO, SME IPO join with my tele- EON ELECTRIC 64 95 48%
JMC PROJECT 246.45 361 46%
gram ID "TELEGRAM.ME/
RDB RASAYAN 47 68 45%
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relatives who are interested in stock mar-
AJMERA REALTY 177.2 252 42%
ket & want to create wealth from stock
INDO AMINES 77.2 108.5 41%
market to join my telegram id
MUNJAL AUTO 54.5 76.35 40%
"TELEGRAM.ME/RUPEEGAINS7". For
VINYL CHEM 70.75 97 37%
that in your mobile download app TELE-
AVT NATURAL 37.75 51 35%
GRAM & then in search type
RCF 79 106.5 35%
RUPEEGAINS7 & then click on join. PATSPIN INDIA 23 31 35%
RUPEEGAINS7 - CROSS ANOTHER GMR INFRA 16.6 22 33%
MILESTONE7711+ satisfied group mem- P G FOILS 124 161 30%
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Cont....
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 40
SHORT TERM to MEDIUM TERM INVESTMENT IDEAS
FLEX FOODS LTD (523672) (132.80) (Face Value Rs.10)
Incorporated in 1990, Noida based Flex Foods Limited cultivates and processes food products
in India. It offers vacuum freeze dried, air-dried, frozen, and individually quick frozen product range
of mushrooms, herbs, spices, fruits, and vegetables; and canned button mushrooms in various
shapes and sizes. The company also provides thyme, basil, parsley, dill, mint, sage, savory, cher-
vil, marjoram, rosemary, chives, and oregano culinary herbs. Its state of the art processing facilities
are situated at the foothills of the Himalayas in the northern Indian city of Dehradun and their prod-
ucts are exported to the highly conscious markets of the Europe, USA, Canada, Middle East, Aus-
tralia, Israel, UK, Germany, Belgium, etc.
Flex Food Limited is an associate company of UFLEX, a 2.3 Billion dollar company, leader in
flexible packaging technology.
It has an equity base of just Rs.12.45crore that is supported by reserve of around Rs.63.66crore.
The promoters hold 59.68% while the investing public holds 40.32% stake in the company. ACE
Investors PORINJU VELIYATH holds 1% and SUBRAMANIAM P holds 1.81% stake in the com-
pany.
Company has reported super numbers for Q4FY17. During Q4FY17, its net profit zoomed 84.18%
to Rs.4.31crore on sales of Rs.24.69crore fetching an EPS of Rs.3.46. For FY17, it has posted net
sales of Rs.85.17crore with net profit of Rs.7.85 fetching an EPS of Rs.6.31. Currently, the stock
trades at a P/E of 20x whereas industry PE is 55.2. It is regular dividend paying company. It has
paid 25% dividend for FY17.
The stock looks attractive for investment at the current level. Investors can buy this stock with a
strict stop loss of Rs.116. On the upper side it will zoom up to Rs.148 levels, cross over will take it
to Rs.160-165 levels in medium term

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 & authenti-
cated 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 un-
dertaken by them. The author won't be liable or responsible for any legal or financial losses made by
anybody.
Financial Weekly

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6th August 2017 to 12st August 2017 41
Primary Market - Dilip K. Shah
Till now 189 companies got listed on BSE-SME and more 40 approaches Sebi for approval
With 60 more companies are gearing up for SME IPO, nearly 100 SME IPOs are in pipeline
Compared to the Main Board, SME IPO Index at spurt 52% More
Cochin Shipyard IPO gets robust response: Listing may be with a bang on August 11
SIS IPO gets lukewarm response: Listing will on August 10
This week 4 NSE SME IPOs and 1 BSE SME IPOs are in the market
Lexus Granito NSE SME IPO witnesses higher attraction: Fancy on rise in Servotech
Next week all eyes will be on Ultracab. Total Trans Keerti SME IPO Listing
How and when will be allotment, listing in Cochin Shipyard and SIS IPOs ?
Captain and Shanti Overseas IPO hit 20% upper circuit on listing
Dexon Techno gets Sebi approval for Rs650 crore IPO
SREI Equipment's NCDs issue bid adieu to market on July 31 with average response
Kosmattam's Rs110 crore NCDs issue will open on August 4
NSE's delayed IPO may open in March 2018

This week Five SME IPOs and Two NCDs issues will keep the market moving in
absence of mainboard IPO. As per the reports, till now 189 SME IPOs have got listed on
BSE SME platform and 40 more companies have approached Sebi with DRHP. Moreover,
around 60 companies are in advanced stage of hitting the market with IPO. So Nearly, 60
SME IPOs are in pipeline on BSE SME Platform.
Compared to the mainboard, SME Platform has performed better. Since June last
year,BSE SME IPO has witnessed 52% rise compared to 42% rise in BSE IPO Index.
Moreover, since January 2015, total 42 BSE SME Scripts have witnessed doubling of the
price as against that only three share have witnessed doubling of the price on the main

Grey Market Premium board.

IPOs Offer Price Premium Kostak Price Subject to Sauda
Name (Rs.) (Rs.) Min.Appl.(Rs.) (Confirm) (Rs.) Moreover, domestic funds have
SIS 810 to 815
75 to 80
H/L : 135 / 25 shown interest in SME IPOs. Reliance
Cochin Ship. 424 to 432 165 to 170 1025 4500 / 4700
H/L : 195 / 90 Mutual Fund bought shares in Valiant
SME IPOs
Total Trans. 45 -- 1250 65000 Organics and DSP BlackRock bought
Lexus Granito 41 to 45 -- 950 18000
Do not subscribe for IPO by just seeing premium price as it may change anytime shares in Momai Apparels in 2016.
before listing : Subscribe only considering fundamental of the Companies
For latest grey market premium please check everyday In the first four months of the cur-
www.smartinvestment.in
Financial Weekly

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6th August 2017 to 12st August 2017 42
NSE SME IPO
Sr Company Issue Open Dt. Issue size Offer price Minimum Rating Remark
Issue Close Dt. (Rs. Cr.) (Rs.) Applications Size %
1. Vaishali 7-8-2017 19,76,000 Eq. 71 to 72 1600 Eq. Shares 34 %
Pharma 10-8-2017 (Rs. 14.23 Cr.) (Rs. 1,15,000) AVOID
2. Lexus 9-8-2017 57,60,000 Eq. 41 to 45 3000 Eq. Shares 40 %
Granitor 11-8-2017 (Rs. 25.92 Cr.) (Rs. 1,35,000) ATTRACTIVE
3. Servotech 9-8-2017 48,80,000 Eq. 31 4000 Eq. Shares 39 % : Apply
Power Sys. 14-8-2017 (Rs. 15.13 Cr.) (Rs. 1,24,000) Short - Mid Term
4. Geekay 9-8-2017 33,32,000 Eq. 33 4000 Eq. Shares 32 % : Avoid
Wires Ltd. 14-8-2017 (Rs. 11.00 Cr.) (Rs. 1,32,000) Costly Bet

BSE SME IPO

Sr Company Issue Open Dt. Issue size Offer price Minimum Rating Remark
Issue Close Dt. (Rs. Cr.) (Rs.) Applications Size %
1. Ashok 7-8-2017 20,10,000 Eq. 10 10,000 Eq. Shares 35 % : Average
Masala Mart 11-8-2017 (Rs. 2.01 Cr.) (Rs. 1,00,000) (Long Term)

Non Convertible Debenture (NCD) Issues at a Glance

Sr Company Issue Open Bond size F.Value Min. Listing Rating Recomm.
Issue Close (Rs. Cr.) (Rs.) App.
4-8-2017 1,000/- 10 NCDs BSE IND BBB-
AVOID
1. Kosamattam 1-9-2017 (Rs. 110 Cr.) (Rs.10,000) NSE Outlook Stable
Finance Base : Rs. 110 Cr. Lead manager : A.K. Capital
+ (Retain Ovr. Sub. up to Edelweiss Capital
Rs. Rs. 220 Cr.) SPA Capital

rent financial year, 44 SME IPOs have raised Rs553.65 crore, which stood at Rs537.27
crore by 67 SMEs in the whole 2016 and Rs260.21 crore by 43 SMEs in 2015.
* Last week's Mainboard IPOs:-
SIS IPO :- The issue opened on July 31 and closed on August 2. The issue with price
band of Rs805 to Rs815 got 7.07 times subscription including 5.64% in QIB, 1.66 times in
NII and 19.51 times in retail category.
Discovery Price :- It could be Rs815.
Allotment-Refund :- The company may declare allotment on August 7, fund will be
unblocked on August 8 and shares will be deposited on August 9. As Smart Investment's
prediction, the issue has got subscription between 15 - 20 times. So allotment ration may
be 16.95 means out of 16/17 applicants only one will be allotted 18 shares.
Listing :- It could be on August 10 around Rs870 to 890 and may cross Rs900 as big
players are believed to be all set for speculation.
* Cochin Shipyard :- The issue with offer price of Rs424 to Rs432 opened on August
Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 43
Allotment & Listing Process of BSE IPO
1 and closed on August 3. SIS Cochin
Issue Closes 2-8-2017 3-8-2017
Subscription :- It got 76.19 times Finalisation of Basis of Allotment 7-8-2017 8-8-2017
Refund / Unblocking of Fund from ASBA 8-8-2017 9-8-2017
subscription including 63.52 times in Credit of Equity Shares to Demat A/c. 9-8-2017 10-8-2017
Listing on BSE / NSE 10-8-2017 11-8-2017
Subscription Figure of
QIB, 288.87 times in HNI, 8.51 times in retail and 0.48 times in SREI Equipment NCDs
Issue Closed on 31-7-2017
Category No of Bonds Subscribed
employee category. Reserved (X)
i) Institutions 1500000 0.23
Discovery Price :- It could be Rs432. ii) Corporate 1000000 0.32
iii) Retail 2500000 1.44
Total 5000000 0.85

Allotment-Refund :- Allotment could be on August 8 and fund will be unblocked on

August 9. The shares will be deposited in account on August 10.
Considering 8.51 times subscription in retail segment it out of five applicants one may
be allotted 30 shares as the applications of more than Rs1 lakh are likely to be rejected.
Listing :- IPO may get listed on August 11 around Rs575-600 and after that it may
cross Rs625 to 650 level.
* SME IPOs:-
NSE SME IPO:-
Vaishali Pharma :- The issue with offer price of Rs71 to 72 will open on August 7 and

Subscription Figures of
Cochin Shipyard Main Line IPO close on August 10. It is advisable to keep distance
No. Shares Issue Subscribed due to poor fundamentals.
Offered/ 1-8-17 2-8-17 3-8-17
Reserved Lexus Granito :- Morbi-based company's issue with
QIBs 1,65,80,000 0.72 3.41 63.52
NII 49,74,000 0.22 0.82 288.87 offer price of Rs41-45 will open on August 9 and close
Retail 11,60,600 1.57 4.00 8.51
Empl. 8,24,000 0.12 0.29 0.48 on August 11. The company's financial performance
Total 3,39,84,000 0.92 3.16 76.19
has been robust in last four years and future seems
Subscription Figures of
bright. Moreover, in this issue 35% shares have been
SIS Main Line IPO
No. Shares Issue Subscribed allotted in QIB, 30% in HNI and 35% retail segment,
Offered/ 31-7-17 1-8-17 2-8-17
Reserved which is for the first time in the history.
QIBs 29,11,034 0.00 1.12 5.64
NII 14,43,092 0.01 0.09 1.66 Serovetch Power :- The issue with offer price of
Retail 9,62,061 2.06 7.14 19.51
Total 53,16,187 0.38 1.93 7.07
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6th August 2017 to 12st August 2017 44
Basis of Allotment of
Rs31 will open on August 9 and close on August 14. P/E, P/BV Shanti Overseas
No. of Shares Applied 3000
are reasonable and RONW is higher. So it is good option for No of Application 1
Total Eq. Shares
medium term. Applied 1,38,000
Proportionate
Geekay Wires :- The issue with fixed price of Rs33 will open Shares Available 1,38,000
Allocation per Appl. 1,38,000
on August 9 and close on August 14. It is advisable to keep away Ratio 1:1
Total no of Equity
as it seems very costly. Shares Allotted 1,38,000
Surplus (Deficit) --
* BSE SME IPOs:- Basis of Allotment of
Ashok Masala :- The issue with offer price of Rs10 will open Ultracab (India) BSE SME
No. of Shares Applied 2000
No of Application 402
on August 7 and close on August 11. Issue size is only Rs2.10
Total Eq. Shares
Applied 804000
but average fundaments and higher P/E makes it a risky affair. Proportionate
Shares Available 462000
But can be considered for long term investment. Allocation per Appl. 2000
Ratio 15 : 26
* SME IPO Allotment:- Total no of Equity
Shares Allotted 462000
Ultracab (I) :- Allotment ratio is 15:26 and allotment will be of Surplus (Deficit) --

2000 shares. Basis of Allotment of

Global Space Techno
Shanti Overseas :- 3000 shares will be allotted in ratio of 1:1. No. of Shares Applied 2000
No of Application 1050
Global Space :- 2000 shares will be allotted in ratio of 241:350. Total Eq. Shares
Applied 21,00,000
Total Transport :- The issue has got 153.95 % response in Proportionate
Shares Available 14,46,000
QIB-HNI and 120.66 times in retail category taking overall sub- Allocation per Appl. 2000
Ratio 241 : 350
scription to 130.33 times. Listing will be vibrant. Total no of Equity
Shares Allotted 14,46,000
* SME IPO lisitng:- Surplus (Deficit) --

Captain Techno (540652) :- The issue with fixed price of Rs40 got listed on Rs48 but

Subscription Figure of BSE SME IPO came down to Rs43.90 on August 4.

SME IPOs Day Issue Date Subscirbed
Shanti Overseas NSE SME Issue Closed on 26-7-17 14.40x Shanti Overseas :- The issue with
Global Space Tech. BSE SME Issue Closed on 28-7-17 1.47x
Keerti Knowledge NSE SME Issue Closed on 28-7-17 1.81x
Surevin BPO NSE SME Issue Closed on 1-8-2017 54.95x
fixed price of Rs50 got listed at Rs60

Listing Information of SME IPO

Co. Name BSE Listing Offer Listing Listing Listing Listing Listing CMP
Code Date Price Price Gain Day Day Day
(Rs.) (Rs.) (%) High Low Close 4-8-17
Captain Technocast 540652 1-8-2017 40 48 20% 48 47.80 48 43.90
Shanti Overseas NSE SME 3-8-2017 50 60 20% 60 41 42.90 41.50
Financial Weekly

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6th August 2017 to 12st August 2017 45
and came down to Rs41.50 on August 4.
* NCDs issues:-
SREI Equipment :- The NCDs issue got only 0.85 times subscription with 0.23 times
in Institution, 0.3 times in corporates and 1.44 times in retail.
Kosmattam Fin :- The issue with Rs110 crore base limit and Rs220 crore shelf limit
opened on August 4. The minimum application will be for Rs10,000 for 10 NCDs of Rs1000
each. It seems bit risky considering BBB rating.
* Upcoming issues:-
Dixon Techno :- It has got Sebi nod for Rs600-650 crore IPO. It will issue fresh
shares worth Rs60 crre and OFS of 37,53,739 shares.
NSE :- The company had field DRHP for Rs10,400 crore issue in December but now it
may get listed in March 2018.

Grey Market Movement

Smart Investment's predictions about SIS and Cochin IPO got 100% true
Premiums volatile in SIS and Cochin
SIS Premiums crumbled to 25 but spurted on speculation
Cochin issue premiums may come down with closing of the issue
Lexus Granito witnessing fancy in subject to rates
SIS :- The premiums were 135 but now it has crumbled and touched Rs25 but due to high
speculations it went up to 82-85 and now around Rs75-80.
Cochin Shipyard :- The premiums touched Rs90-95 before 15 days of opening the issue,
went up to Rs190-195 and came down to Rs165-170.
* SME IPOs:-
Total Transport :- The subject to rates were Rs70,000 but now it is around Rs65000 to
Rs67000.
Lexus Granito :- Subject to rates strated from Rs7000 but now around 17000 to 18000. May
be volatile in future.
Smart Investment correctly predicted that allotment in Cochin Shipyard will be in ratio of 1:5
and Subscription in SIS IPO will be between 15to20 times. Both came true 100%.
Financial Weekly

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6th August 2017 to 12st August 2017 46
Vaishali Pharma IPO Openes on August 7th August & Closes on 10th August
Price band Rs. 71 to 72 ; Listing NSE - SME Platform
Looking to the weak fundamentals, high PE & P/BV, Better to avoid this issue
In Corporate in 2008 Vaishali Pharma Ltd (VPL) is a pharma company dealing in phar-
maceutical formulations, APIs, surgical products, veterinary supplements catering to do-
mestic and export markets. On domestic front it has major trading in APIs while in export
markets it does trading and marketing of APIs, formulations, surgical products etc. VPL
has applied for 186 registrations in 13 countries for some of its products out of which it has
already received approvals for 71 products from 7 countries and expecting remaining
approvals in near term.
To part finance its working capital and general corpus fund needs, the company is
coming out with a maiden issue of 1976000 equity share of Rs. 10 each via book building
route with a price band of Rs. 71 - Rs. 72 to mobile Rs. 14.03 to Rs. 14.23 crore based on
lower and upper price bands. Issue opens for subscription on 07.08.17 and will close on
10.08.17. Minimum application is to be made for 1600 shares and in multiples thereon,
thereafter. Post issue, shares will be listed on NSE SME Emerge. Issue is solely lead
managed by Pantomath Capital Advisors Pvt Ltd and Bigshare Services Pvt Ltd is the
registrar to the issue. It has also issued bonus shares in the ratio of 9 for 1 in March 2010
and 5 for 1 in March 2017. Post issue, its paid up equity capital will stand enhanced from
Rs. 4.62 cr. to Rs. 6.59 crore.
Financial Performance :- On performance front, the company has reported turnover/
net profits of Rs. 119.10 cr. / Rs. 0.60 cr. (FY13), Rs. 121.57 cr. / Rs. 0.30 cr. (FY14), Rs.
98.82 cr. / Rs. 0.16 cr. (FY15), Rs. 69.89 cr. / Rs. -(0.03) cr. (FY16) and Rs. 67.11 cr. / Rs.
0.66 cr. (FY17). It has posted declining top line for last five fiscals. It suffered setbacks in
bottom lines as well with losses in FY16 and despite lower top line, sudden jump in bottom
line for FY17 is a big surprise. Last three fiscal's average EPS is Rs. 1.16 and Rs. 2.21 for
FY 17 on a paid up equity capital of Rs. 3 crore. If we attribute latest earnings on fully
diluted equity post issue, then asking price is at a P/E of 72 and at a P/BV of 5.5 making it
a costly bet with greedy pricing. Last three fiscal's average RoNW is 9.10%.
BRLM's Performance :- On merchant banker's front, this is the 41st mandate from its
stable, out of last 10 listings, one opened at par with offer price and nine gave positive
opening on the listing day.
Recommendation : Looking to the weak fundaments, high P/E - P/BV ratio it is better
to avoid this IPO.
Financial Weekly

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6th August 2017 to 12st August 2017 47
Lexus Granito IPO Opens on Aug. 9 & Closes on 11 Aug. 2017
Price band Rs. 41 to 45; Listing on NSE - SME Platform
Considering strong fundamentals, LOW PE & P/BV, apply for listing gain
Incorporate in 2007, Lexus Granito (India) Ltd (LGL) is engaged in manufacturing, trad-
ing and marketing of vitrified ceramic tiles and wall tiles for domestic and international
markets. LGL was outsourcing wall tiles so far, but now it has set up its own wall tiles
manufacturing unit. Company is ISO 9001:2008 certified producer of quality products.
To part finance its working capital and general corpus fund needs, the company is
coming out with a maiden IPO of 5760000 equity shares of Rs. 10 each via book building
route with a price band of Rs. 41-45 to mobilize Rs. 23.62 to Rs. 25.92 crore (based on
lower and upper price band). Issue opens for subscription on 09.08.17 and will close on
11.08.17. Minimum application is to be made for 3000 shares and in multiples thereon,
thereafter. Post allotment shares will be listed on NSE SME Emerge. Issue has reserva-
tion of 30% for QIBs, 35% for HNIs and 35% for retail categories. Issue is solely lead
managed by Pantomath Capital Advisors Pvt Ltd and Big share Services Pvt Ltd is the
registrar to the issue. Issue constitutes 30% of the fully diluted post issue paid up capital
of the company. Post issue, its current paid up equity capital of Rs. 13.43 crore will stand
enhanced to Rs. 19.19 cr.
On performance front, the company has posted turnover/net profits of Rs. 59.25 cr. /
Rs. 0.32 cr. (FY14), Rs. 80.901 cr. / Rs. 2.03 cr. (FY15), Rs. 102.27 cr. / Rs. 3.20 cr.
(FY16) and Rs. 164.73 cr. / Rs. 5.09 cr. (FY17). Thus it has shown continued progress in
top and bottom lines.LGL is exporting its products to 20 countries. Nearly two third of its
revenue comes from export markets. Its last three fiscal's average EPS is 2.89 and RoNW
is 11.46% and at a P/BV of 1.78. If we attribute latest earnings on fully diluted equity post
issue, then asking price is at a P/E of about 17 (based on higher price band), against peer
trading at a P/E of 77. Thus it compares well with peer. Main board listed companies in this
segment are trading at a P/E of 32 plus.
Merchant Banker Performance :- On merchant banker's front, this is the 42nd man-
date from its stable and out of last 10 listings, one opened at par with offer price and nine
gave positive opening on the listing day.
Recommendation : Considering strong fundamental, Low PE & P/BV bright future of
Industry, Investors may apply in this IPO for listing & Short term gain.
Financial Weekly

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6th August 2017 to 12st August 2017 48
Servotech Power Systems NSE SME
IPO Opens on 9th August & Closes on 14th August
Offer priced fixed at Rs. 31 ; Listing on NSE SME
Looking to the good fundamentals & Bright prospects, apply for short term
Servotech Power Systems Ltd (SPSL) that initially started manufacturing Inverters, UPS and
Servo Stabilizers under the brand name "SERVOTECH" ventured in the production of LED
products in the year 2011. SPSL is selling LED products under the brand "SAARA". It manufac-
tures energy efficient luminaries for residential, industrial, and commercial applications.
Company's products include LED light bulbs, LED down lights, LED flood light, LED panel lights,
LED tube lights, LED bay lights, outdoor lights (street lights, floodlights).
To part finance its working capital and general corpus fund needs, SPSL is coming out with a
maiden IPO of 4880000 equity shared at a fixed price of Rs. 31 per share to mobilize Rs. 15.13
crore. Issue opens for subscription on 09.08.17 and will close on 14.08.17. Issue constitutes
26.65% of the post issue paid up capital of the company. Minimum application is to be made for
4000 shares and in multiples thereon, thereafter. Post allotment shares will be listed on NSE
SME Emerge. It has also issued bonus shares in the ratio of 2 for 1 in May 2007, 1 for 2 in Dec
2011, 1.5 to 1 in August 2013 and 4 for 1 in May 2017. Post issue company's paid up equity
capital will stand enhanced from Rs. 13.43 crore to Rs.18.31 crore.
Financial Performance :- On performance front, the company has reported turnover/net prof-
its of Rs. 33.96 cr. / Rs. 0.84 cr. (FY14), Rs. 32.18 cr. / Rs. 0.81 cr. (FY15), Rs. 51.71 cr. / Rs. 1.17
cr. (FY16) and Rs. 83.21 cr. /Rs. 5.06 cr. (FY17). While it suffered a setback for FY15, it outper-
formed for FY17 with higher top and bottom lines. For FY17 it reported higher other income of
Rs. 2.25 crore. With a paid up equity capital of Rs. 2.56 crore as on 31.3.2017, it has reported an
EPS of Rs. 4.94 with an average EPS of Rs. 3.11 for last three fiscals. It issued bonus (4 for 1)
and fresh equity at a price of Rs. 31 in May and June 2017. If we attribute latest earnings on fully
diluted equity post issue then asking price is at a P/E of 11 plus. Last three fiscals average
RoNW is 26.44%. Issue price is at a P/BV of 2.76. Its peer it trading at a P/E of around 10 (as on
02.08.17) and thus issue appears to be fully priced. However, company's major thrust for LED
segment augurs well with bright prospects ahead.
BRLM's Performance : - On merchant banker's front, this is the 30th mandate. Out of recent
10 listings, one opened negative, one at par and the rest on a positive note on the day of listing
with the last listing of Salasar Tech creating record of opening at 140% premium. Total Trans-
port that is set for listing in near term is expected to create fancy.
Recommendation : Looking to the company's financial performance & bright - prospects for
LED. Investors may apply for short to medium term
Financial Weekly

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6th August 2017 to 12st August 2017 49
Geekay Wires NSE SME IPO
Opens on August 9 & Closes on August 14, 2017
Offer price fixed at Rs. 33; Listing on NSE - SMER Emerge
Considering high PE & P/BV, better to avoid this IPO
Incorporate in 1989, Geekay Wires Ltd (GWL) is in the business of manufacturing high quality
galvanized steel wires and wire
products and have been meeting the requirement of various clients in the government and
private sectors like power, construction, automobile, general engineering and domestic seg-
ments. GWL is an ISO 9001: 2008 certified, manufacturer, exporter and supplier of the superla-
tive wires and cables like galvanized wire, earth wire, stay wire, ACSR steel core, cable armoured
wire, guy strand, barbed wire, spring steel wire, patented wire, detonator wire, and spring steel
wire, nails and fasteners etc.
To part finance its working capital and general corpus fund needs, GWL is coming out with a
maiden IPO of 3332000 equity share of Rs. 10 each at a fixed price of Rs. 33 per share to
mobilize Rs. 11 crore. Issue opens for subscription on 09.08.17 and will close on 14.08.17.
Minimum application is to be made for 4000 shares and in multiples thereon, thereafter. Post
allotment, shares will be listed on NSE SME Emerge. Issue is solely managed by Aryaman
Financial Services Ltd and Bigshare Services Pvt Ltd is the registrar to the issue. GWL has
issued entire equity at par so far. Post issue, its current paid up equity capital of Rs. 5.00 crore
will stand enhanced to Rs. 8.33 crore.
Financial Performance :- On performance front, the company has posted turnover/net profits
of Rs cr. / Rs. 0.17 cr. (FY14), Rs. 61.12 cr. / Rs. 0.23 cr. (FY15), Rs. 81.06 cr. / Rs. 0.65 cr.
(FY16) and Rs. 67.16 cr. / Rs. 0.65 cr. (FY17), For FY 17 although its top line has seen erosion,
with the help of Rs. 2.84 crore other income, it has maintained bottom line. For last three fiscals
it has posted an average EPS of Rs. 1.16 with average RoNW of 9.15%. Thus the asking price
is at a P/E of around 28.45 (based on Rs. 5 crore paid up equity as on 31.03.17) against industry
average of 19.30. If we attribute latest earnings on fully diluted equity post issue, then asking
price is at a P/E of 42 and at a P/BV of 2.45. Thus issue pricing appears very greedy.
Merchant Bankers Performance :- On merchant banker's front, as per prospectus details,
this is the 16th mandate from its stable in last three fiscals. Out of last 10 listings, two issues
opened at a discount to offer price, three just around offer price and the rest marked positive
openings.
Recommendation : Considering average fundamentals high PE & P/BV, it's a costly issue.
Better to avoid.
Financial Weekly

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6th August 2017 to 12st August 2017 50
Ashok Masala BSE SME IPO
Opens on August 7, Closes August 11, 2017
Offer price fixed at Rs. 10 ; Listing on BSE SME Platform
Considering PE 43 & P/BV 0.77 & Offer at par, Apply for long term
Incorporated in 2014, Ashok Masala Mart Ltd (AMML) is engaged into manufacturing and
supplying of blended spices, whole spices and grinded spices. It has been supplying the tradi-
tional and delectable range of spices under two brands "APPU MASALA" & "GAYATRI MASALA"
with more than 30 types of Spices and Masalas including instant mix range such as Pav Bhaji
Masala, Chaat Masala, Tea Masala, Garam Masala, Sambhar Masala,
Punjabi Chole Masala, Biryani / Pulav Masala, Kitchen King Masala and various Powders
like Red Chilli Powder, Jeera Powder, White Pepper Powder, Turmeric Powder
To part finance its fund needs for purchase of corporate office and doing interiors, working
capital and general corpus funds, the company is coming out with a maiden IPO of 2010000
equity share of Rs. 10 each at par to mobilize Rs. 2.01 crore. Issue opens for subscription on
07.08.17 and will close on 11.08.17. Minimum application is to be made for 10000 shares and in
multiples thereon, thereafter. Issue is solely lead managed by Navigant Corporate Advisors Ltd
and Karvy Computershare Pvt Ltd is the registrar to the issue. Post allotment, shares will be
listed on BSE SME. The issue constitutes 38.95% of the post issue paid up capital of the com-
pany Post issue its current paid up equity capital of Rs. 3.15 crore will stand enhanced to Rs.
5.16 crore.
Financial Performance :- On performance front, for last three fiscals AMML has posted turn-
over/net profits of Rs. 3.78 cr. / Rs. 0.03 cr. (FY15), Rs. 2.88 cr. / Rs. 0.03 cr. (FY16) and Rs. 8.39
cr. / Rs. 0.12 cr. (FY17). Sudden jump in top and bottom line for FY17 is surprising. Last three
year's average EPS is Rs. 0.50 and for FY it stands at Rs. 0.59 (on Rs. 2.50 crore paid up equity
capital). If we attribute latest earnings on fully diluted post issue equity then asking price is at a
P/E of 43 plus and at a P/BV of 0.77. Last three year's average RoNW is 2.92. As per prospectus,
company has no listed peer to compare with. Issue is at par and company is doing profitable
business that may create attraction among investors.
BRLM's Performance : - On merchant banker's front, this is the sixth mandate from its stable.
Out of 5 issues listed so far, two opened on a positive note, one around offer price and the rest
opened at a discount to offer price on the day of listing. Thus it has mixed trends.
Recommendation : Considering PE of 43, P/BV of 0.77 and offer price at par, Investors may
apply for long term.
Financial Weekly

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6th August 2017 to 12st August 2017 51
Smart Best Buy S. N. Zaveri
BEL reports big jump in net profit
Havells India : Leading Player in Electrical Consumer
Balkrishna Ind. : Raw material costs mars the results, Accumulate
JSW Steel : Focus on value added products pays
Shree Cement : Better realisation makes it attractive

Bharat Electronics (Rs. 178.00) (Code : 500049) (F. V. : 1.00) :- Bharat

Electronics Ltd. consolidated revenue for the quarter came in at Rs. 1772 crore, registering 96.3%
yoy increase. Net profit ws at Rs. 125 crore, yoy increase of 248 %. The company reported EBITDA
profit of Rs 163.3 crore vs. loss of Rs 46.7 crore in Q1FY17. We estimate EBITDA of Rs 55.7 crore
for the quarter. EBITDA margins came in at 9.5%.Bharat Electronics' order book as on 1 July 2017
stood at Rs 41052 crore. BEL will be a key beneficiary of the on-going defence modernisation and
government's focus on higher indigenous content in defence procurement. Improvement in order
inflow, robust order pipeline and positive earnings surprise, we anticipate re-rating in the stock to
continue. The Government of India held 68.18% stake in Bharat Electronics (as per the shareholding
pattern as on 30 June 2017).The large-cap company has equity capital of Rs 223.36 crore. Face
value per share is Re 1. Buy this stock at current level and at every decline.
Havells India (Rs. 491.00) (Code : 517354) (F. V. : 1.00) :- Havells India Ltd
(HAVL) is a leading player in electrical consumer goods in India. Its key verticals include switchgears,
cables & wires, lighting fixtures and consumer appliances. Revenue (excluding Lloyd revenue)
grew by modest 9% YoY, PAT declined by 16% YoY on lower EBITDA margins due to GST led de-
stocking. EBITDA margin declined by 360bps YoY to 10% due to delay in price hikes, higher
advertisement and other expenses. Lloyd consumer business is expected bring sharp scalability
to HAVLs consumer business. We have included Lloyd in our earnings estimates. Currently HAVLs
has presence across entire consumer electric space. Given its strong earnings outlook, premium
valuation is expected to continue.The company has recently forayed into personal grooming space
by launching an array of high-quality personal care products, and also entered the home automa-
tion, air purifier and water heaters categories. Havells stock is trading at around Rs.490 level. Buy
in phased manner.
Balkrishna Industries (Rs. 1590.00) (Code : 502355) (F. V. : 2.00) :-
Balkrishna industries ltd standalone revenue for the quarter came in at Rs. 1012.77 crore, register-
ing 7.5% yoy increase. Net profit was at Rs. 153.14 crore, yoy increase of 2.7%. This was due to
22% yoy decline in its interest expenses. EBITDA for the quarter fell by 20.8% yoy to Rs. 291.7
crore with a corresponding margin contraction of 1032 bps. EBITDA margin for the quarter stood at
28.8%. This margin contraction was aided by 48.4% yoy increase in cost of raw material con-
sumed. Company has mentioned that as a part of backward integration plan is setting up a Carbon
black project at its Bhuj plant with an initial capacity of 60000Mts. An estimated capital outlay will
of Rs 150 crore. The Board has declared dividend of Rs.2.5 per equity share of Rs.2. The company
has a return on equity of 24.21% for three years. The stock has given 123% return on a yearly
basis. Balkrishna Industries is engaged in offering pneumatic tyres. The company offers tyres,
tubes and tyre flaps. It focuses on manufacture of a range of off-highway tyres (OHT). These tyres
are mainly meant for agricultural, industrial and construction, earthmoving and port, mining, for-
estry, and lawn and garden applications. Accumulate.
Financial Weekly

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6th August 2017 to 12st August 2017 52
JSW Steel (Rs. 228.00) (Code : 500228) (F. V. : 1.00) :- Sajjan Jindal led JSW
Steel reported decline in net profit as well as EBITDA for the April-June quarter as cost pressures
mounted and price of steel declined, especially in the month of June. The net profit stood at Rs 624
crore on a consolidated level, down by 43% since the same quarter, last year. Operating EBITDA
stood at Rs 2617 crore, against Rs 3269 crore, a drop of almost 20%. This was caused by an
increase in the cost of materials consumed, which is an increase of 55.35% at Rs 9020 crore
primarily because of coking coal prices nearly doubling since the same period last year. Total
revenue from operations increased by 24% to Rs 15,977 crore, compared to Rs 12,886 crore last
year. Though steel prices corrected globally, along with the correction in iron ore and coking coal
prices, the growth in global production was very high. India also produced more steel, at a growth
of 4.5% , with demand increasing by 4.6%. While the share of coated product sales went up from
28% to 32%, the share of value added products was increased to 38% of the total sales. Mean-
while, the company is very keen on Bhushan Steel and Monnet Ispat. At the right price, even Essar
would be attractive. The stock has jumped at 52-week new high of Rs.229.50 on Friday. Still, looks
attractive. Buy.
Shree Cement (Rs. 18069.00) (Code : 500387) (F. V. : 10.00) :- Shree
Cement : Shree Cement has, last week, reported 13.30 per cent decline in standalone net profit at
Rs 440.11 crore for first quarter ended June 30, on account of higher expenses. However, total
income during the quarter under review rose by 16.74 per cent to Rs 2,995.23 crore as against Rs
2,565.70 crore during the same quarter in 2016-17. Total expenses during the period stood at Rs
2,448.63 crore, up 27.62 per cent from the year-ago period. Volumes increased 15% to 5. 89 mt,
led by capacity ramp -up in east, with utilization in excess of 90 -95%. Realizations rose 10 % QoQ
due to higher cement prices in north and east markets. Revenue from the cement business grew
22.42 per cent to Rs 2,768.79 crore from Rs 2,261.65 crore in the same period previous fiscal.
However, revenue from the power business declined 11.28 per cent to Rs 355.67 crore as against
Rs 400.93 crore in the year-ago period. With tiny equity of Rs. 34 crore, the stock is poised for new
upward journey. Buy.

(SEBI Registered Research Analyst)

* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month All stocks rates / indices on
4th August 2017 unless specified o Stoploos is useful for Short - Medium term investors only
* Disclaimer :- Smart Investment will not be responsible / for any loss arising out of investment based on its recommendation. Though,
every care has been taken, we will not responsible for any errors / omissions o All disputes are subject to Ahmedabad jurisdictioner

Financial Weekl
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Financial Weekly

SMART
INVESTMENT
6th August 2017 to 12st August 2017 53
Dalal Street Whispers - Dilip K. Shah

Suzlon (Rs. 17.00) (Code: 532667) :- The anti-dumping duty authority has recom-
mended levy of anti-dumping duty on Chinese windmill equipment, a decision that will benefit the
company.

Power Finance (Rs. 128.00) (Code: 532810) :- The board of Power Finance Corpo-
ration will meet on August 10 to discuss the bonus issue proposal.

Nelcast (Rs. 69.00) (Code: 532864) :- The auto sales numbers for July have been
better than market expectations. Auto ancillary companies are likely to be in focus as a result.
Demand for Nelcast's products is expected to go up in the coming days.

LT Foods (Rs. 68.00) (Code: 532783) :- Heavy rains in Gujarat and Rajasthan in the
last couple of weeks have had an adverse impact on rice crop. Rice prices are likely to go up as a
result, which will benefit players such as LT Foods, Kohinoor Foods, and others.

Bharat Seat (Rs. 120.00) (Code: 523229) :- Maruti Suzuki, Sharad Motors, Suzuki
and other companies have reported very good quarterly numbers in the last week. All companies
have reported big growth in sales, which will benefit auto ancillary companies.

Redington (Rs. 144.00) (Code: 532805) :- The company is a distributor of Apple

products. Apple had reported very good numbers for the quarter last week. This will have a positive
impact on the stock.

NOCIL (Rs. 138.00) (Code: 500730) :- The company makes chemicals for rubber and
tyre players. The way tyres sales are growing, demand for its raw materials and other ingredients is
also likely to shoot up.

Time Techno (Rs. 171.00) (Code: 532856) :- Both trading volumes and the share
price have gone up in the last three trading sessions. Delivery-based volumes have touched 62%
of the total trades.

Hudco (Rs. 80.00) (Code: 540530) :- The shares of this recently listed company have
given very good returns to investors. Moreover, interest rates are likely to go down after Reserve
Bank of India lowered repo rate by 25 basis points. Lower interest rates are expected to boost
demand for housing loans. It is also expected to benefit from the central government's focus on
affordable housing segment.

Elecon Engg (Rs. 53.00) (Code: 505700) :- This gear box manufacturer is benefiting
in a big way from levy of anti-dumping duty on Chinese equipment. Its business will also get a
boost due to growing automobile sales.

Gati (Rs. 120.00) (Code: 532345) :- The GST Council meeting, which will take place
on August 5, is expected to announce some relief for logistics-transportation segments. Such a
move will benefit Gati, besides Patel Integrated, Snowman Logistics, and other players.

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

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INVESTMENT
6th August 2017 to 12st August 2017 54
High Risk High Return Shares - Dilip K. Shah

Bata (India) (Rs. 629.00) (Code: 500043) :- This footwear company has reported better than
expected quarterly numbers. Net profit has gone up by 20%. Moreover, there are chances that
some relief may be given for leather sector in the upcoming meeting of GST Council.
BSE (Rs. 1,067.00) :- The country's second largest stock exchange has reported 12 times rise
in net profit in its latest quarterly results. Its subsidiary CDSL also had a bumper listing on the
bourses recently, helping BSE unlock significant value.
CEAT (Rs. 1,734.00) (Code: 500878) :- The government has recommended anti-dumping duty
on truck and bus radial tyres imported from China. Tyre shares had jumped sharply in the last few
months due to decline in natural rubber and crude oil prices. However, heavy correction was seen
after Apollo Tyres reported weak numbers. Shares such as CEAT, MRF and JK Tyre will be in
focus going ahead.
Future Retail (Rs. 402.00) (Code: 540064) :- The government has approved FDI proposals
worth Rs3700 crore from Amazon Retail, Supermarket Grocery and Grofers India for retail trading
of food products. The development will lead to current in stocks of Future Retail and D-Mart.
Tata Chemicals (Rs. 605.00) (Code: 500770) :- There is a buzz in the market that the com-
pany is planning to sell one of its plants to Indorama. It is mulling sale of its Haldia fertilizer plant for
Rs. 1,000 crores.
UPL (Rs. 886.00) (Code: 512070) :- According to market buzz, UPL is likely to replace ACC in
the Nifty 50 Index when it is restructured in the near future.
Sobha Dev. (Rs. 386.00) (Code: 532784) :- There is a strong possibility of announcement of
share buyback plan in the company's next board meeting.
Phillips Carbon (Rs. 647.00) (Code: 506590) :- Natural rubber and carbon black are the
main raw material for tyre production. The company is seen benefiting from growing demand for
tyres due to rise in automobile sales in the country.
Mahanagar Gas (Rs. 1,025.00) (Code: 539957) :- The stock is in limelight after the gas
retailer increased CNG prices by 32 paise per unit and PNG prices by 19 paise. Last week, IGL
had also hiked the prices.
IOC (Rs. 417.00) (Code: 530965) : - The board of this oil major has approved acquisition of
50% stake in GSPC's Mundra LNG product. It will also benefit from the government's decision to
abolish kerosene subsidy.
PVR (Rs. 1,398.00) (Code: 532689) :- The Shahrukh Khan and Anushka Sharma starrer 'Jab
Harry Met Sejal' released on August 4 and is expected to become a big hit. Incidentally, the movie's
tickets have quoted even higher than Baahubali 2 tickets, with the price going up to Rs. 2,400.
Mcleod Russell (Rs. 178.00) (Code: 532654) :- Darjeeling Tea prices have gone up by 50 to
100% in July. Production has stopped due to the ongoing protests of Gorkha Janmukti Andolan.
Shares such as Tata Tea and Jayshree Tea are also likely to be in focus in anticipation of higher
tea prices.

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

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INVESTMENT
6th August 2017 to 12st August 2017 55
Lt Col Ajay
Astromoneyguru says 09414056705, 9887056704

Metal & Real state stocks look positive

As per Col Ajay CEO astromoneyguru.com second week of August is represented by planet
known as Jupiter and year 2017 is represented by planet known as Sun .
Sun & Mars are together , Mercury & Rahu are making conjuctions in diffrent signs. Sun & Mars
are at trine angel to Saturn , all these combination may lead positive movement in stock Market
As per Ajay market theory this week positive movement is expected in Metal. real state , bank-
ing, infrastructure, Pharma sectors . metal stocks specially Tata steel, SAIL, Vedanta, Hind zinc ,
Hind copper , may lead the market .
Real state sector have seen no big movement for quite some time . Now As per astro econom-
ics India 's largest real state company DLF may see positive move in Indian stock market .
Base metals specially copper has shown positive break out in commodity market . Hopefully it
may cross any time Rs 415 -20 per kg in Indian commodity market .
The above predictions is base on financial astrology and Fundamental analysis . Risk mangement
is an important tool in trading in stock and commodity market

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Financial Weekly

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INVESTMENT
6th August 2017 to 12st August 2017 56
Senior Astrologer
Dharmesh Joshi
Mob. : 9909941816
E-mail :
stockmarket@ganeshaspeaks.com

Sensex Predictions : Dt. 7th August to 11th August

07-08-2017 Monday :- " Natives with Cancer and Capricorn moon sign must remain ex-
tra cautious during the next 1.5 years, as Rahu and Ketu will be transiting in your sign respectively.
" Last week, you again witnessed the effect of zero weightage on 2nd August 2017, which continu-
ously resulted in a negative trend. " Also take care today and tomorrow. " Today is unfavourable,
but from opening to 12.?? Nifty will maintain its strength. " 12.00 till closing bell, do jobbing on
negative side and frequently enter-exit to earn a good profit.
08-08-2017 Tuesday :- " Rahu will enter Cancer sign and Ketu will move into Capricorn
sign on 8-08-2017, which indicates major changes in your personal horoscope. " Partial lunar
eclipse will occur on 7-8-2017 and there will be a total solar eclipse on 22-08-2017. This will affect
your personal life more, as compared to the market. " Do delivery based trading, as the trend is
unclear today. " Around 9.55 buy Nifty, and between 11.3 to 11.5 sell. " Around 12.00 short-sell
and exit on earning a profit. " Around 14.00 sell and immediately exit on making a profit without
waiting further.
09-08-2017 Wednesday :- " Take care and avoid taking wrong decisions as Moon-Ketu,
Mercury-Rahu, and Sun-Mars are together today. " Opening to 10.15 just pass your time. " 10.15 to
12.00 Nifty will go up, step by step. "12.00 to 14.00 Nifty will be totally unreliable, and move on
both sides. Hence, accordingly take your position. " 14.50 to 15.30 is a very risky time slot. Nifty
will bounce suddenly, but it is difficult to tell the number of points before 1 week.
10-08-2017 Thursday :- " Today will be confusing and cause illusions, as Moon and
Ketu are still together. " Opening to 9.55 Nifty will be totally unreliable, hence avoid trading. " 9.55
to 11.55 Nifty will go up. " 11.55 to 14.55 overall, Nifty will be negative, or go down. " 14.55 to
15.3? expect positive news about Nifty.
11-08-2017 Friday :- " The Moon and Jupiter are aspecting each other today, which is
good for your personal horoscope. " 9.55 to 11.44 Nifty will pass time on the up side. " 11.44 to
13.13 Nifty will be mixed or remain on down side. " 13.13 to 13.45 Nifty may bounce. " 13.45 to
14.51 Nifty might go down. " 14.51 till closing bell, buying in "A" group stocks will affect Nifty.
Financial Weekly

SMART
INVESTMENT
6th August 2017 to 12st August 2017 57
REVIEW OF SMART PLUS NEWS LETTER
Amazing 20% RETURN SMART GAIN
FOR SMART INVESTORS
Company Reccom. Weekly Ch. Company Reccom. Weekly Ch.
31-7-17 High (%) 31-7-17 High (%)
Havells 482 494 2.49 Thirumalai Chem. 1093 1306 19.49
Hind Zinc 278 286 2.88 JMC 350 360 2.86
DLF 192 196 2.08 J K Tyre 162 170 4.94
PTC 114.5 122 6.55 KRBL 466 476 2.15
D.S.Kulkarni 36 40 11.11 APTECH 204 218 6.86
HFCL 18 19 5.56 Indusind Bank 1628 1673 2.76
Tinplate 137 141 2.92 Vedanta 274 286 4.38
Sical 253 275 8.7 Reliance Capital 717 743 3.63
DCM 130 137 5.38 GSFC 138 142 2.9
WPIL 528 547 3.6 JSPL 150 159 6
Escorts 669 711 6.28 Super Crop. 150 154 2.67
Insecticides 706 752 6.52 Amal Ltd. 138 150 8.7
Verdhman Tex. 1210 1249 3.22 Jindal Saw 99.3 107 7.75
Maruti 7630 7920 3.8 AmarJyothi Spg. 237 243 2.53
Century Tex. 1176 1203 2.3 M & M Fin. 401 410 2.24
I. B. Housing 1175 1230 4.68 GSPL 193 197 2.07
Kaveri Seeds 683 706 3.37 HCC 41 42 2.44
Max Financial Ser. 604 623 3.15 Ansal Buildwell 89 94 5.62
Chola Invest 1179 1204 2.12 Remsons Ind. 85 89 4.71
MCX 1104 1135 2.81 Fresh Trap 104 109 4.81
UPL 862 902 4.64 Amines & Plast 49 55 12.24
Bajaj Holding 2383 2433 2.1 Frontier Sprint 72 78 8.33
Sona Koya 110 118 7.27 Shree Renuka 18 19 5.56
Tinplate 137 141 2.92 Welspun India 84 86 2.38
IRB Infra 225 230 2.22 Manappurm Fin. 105 107 1.9
Indian Hume Pipe 548 570 4.01 Orient Paper 95 106 11.58

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Financial Weekly

SMART
INVESTMENT
6th August 2017 to 12st August 2017 59

Editor : Dilip K. Shah

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Disclaimer :- Investment recommendations made in Smart Investment are for information
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who buy or sell securities based on the information in this column are soley responsible for their
actions. The author, his company or his acquaintance may / may not have positions in the scrips
featured herein
Financial Weekly

SMART
INVESTMENT
6th August 2017 to 12st August 2017 60
D(en)O(f)W(ealth)
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Financial Weekly

SMART
INVESTMENT
6th August 2017 to 12st August 2017 61
Grand Success Story of
D(en)O(f)W(ealth) : Dow Scheme
Date Stock Reco. Target Achieved Return Date Stock Reco. Target Achieved Return

Rate (Rs.) Rate (%) Rate (Rs.) Rate (%)

3rd June-16 J M FIN 47 56-59-65 132 181% 5th Jan 17 MAGNGALORE CHEM 48.2 55-60 82 70%

9th June-16 BAJAJ ELE 232 300 387.4 67% 6th Jan 17 INDO RAMA 34.25 36-37 42.6 24%

20th June-16 GAEL 58 75-85 153 164% 11th Jan 17 TRIDENT 62.5 75-100 92 47%

24th June-16 IOL CHEM 136 175-275 156 15% 13th Jan 17 PITTI LAMINATIONS 60 63-65 69.85 16%

1st July 16 IL&FS TRANS 78.5 95-105 124.8 59% 20th Jan 17 SUPER CROP SAFE 136 225 163 20%

7th Junly 16 NETWORK18 45.5 64-71 54.8 20% 27th Jan 17 IHTL 192 202 202 5%

15th July 16 SARDA ENERGY 141 180-200 296.2 110% 2nd Feb 17 SUBEX 10.6 13-14 12.35 17%

22nd July 16 AARTI IND 553 620-625 978 77% 6th Feb 17 BGR ENERGY 138.5 175 183.4 32%

28th July 16 MAGMA FIN 106 135-140 138 30% 6th Feb 17 LAURUS LAB 538 625 611 14%

3rd Aug 16 GARWARE WALL 453 535-540 849 87% 14th Feb 17 ATLANTA 83 105 120.45 45%

5th Aug 16 ION EXCHANGE 327 445-450 473.8 45% 16th Feb 17 PITTI LAMINATIONS 62 72-75 69.85 13%

12th Aug 16 IOL CHEM 137 175-275 156 14% 16th Feb 17 EON ELECTRIC 63.5 85-90 80 26%

18th Aug 16 SAMBANDAM SPI 113 130-140 152 35% 28th Feb 17 KWALITY 157 175-185 167.95 7%

22nd Aug 16 SUBEX 12.65 16.5-18.4 13.5 7% 1st Mar. 17 SPARC 339 370-385 357.4 5%

31st Aug 16 IDFC 58.25 70 71.3 22% 2nd Mar. 17 KOPRAN 71 83-95 102.45 44%

8th Sep 16 IRB INFRA 242 270-285 272.65 13% 8th Mar. 17 AJMERA REALTY 197 250-260 252 28%

8th Sep 16 TALBROS ENG 238 255-260 399.6 68% 10th Mar.-17 CORDS CABLE 81.5 84-86 111 36%

16th Sep 16 NOCIL 68 85 111.4 64% 15th Mar. 17 ADANI ENTER 99.5 115-120 160.7 62%

21st Sep 16 CONART ENG 40 48 58 45% 17th Mar.17 GUJ THEMIS 48 53-55 55.5 16%

23rd Sep 16 KEI IND 120.5 140-170 238 98% 17th Mar.17 SHILCHAR TECHNO 380 450-525 524.9 38%

29th Sep 16 DYNAMIC IND 60 70-75 82.9 38% 20th Mar.17 ELECTROSTEEL CAST 29.5 37-40 40.65 38%

29th Sep 16 GSFC 77 101 148.5 93% 24th Mar.17 ONWARD TECH 74.5 78-80 98.8 33%

5th Oct 16 MAGMA FIN 116 140 138 19% 24th Mar.17 AVT NATURAL 37 39.5-41 49.9 35%

19th Oct 16 JINDAL POLY 429 460-490 477 11% 29th Mar.17 SANKHYA INFO 58.5 70-75 60 3%

25th Oct 16 A2Z INFRA 40.75 50 52.65 29% 31st Mar.17 MOLD-TEK 53.5 55-56 56.8 6%

30th Oct 16 JENBRUKT PHARMA 482 700 572.5 19% 5th April-17 MTNL 25.75 31-35 27.1 5%

30th Oct 16 ADVANCED ENZ 2125 2700 2375.5 12% 6th April-17 SARDA ENERGY 258 300 277.7 8%

4th Nov 16 MAFATLAL IND 443 425-500 448 1% 13th April-17 WEIZMANN 524 560-570 648 24%

4th Nov 16 ABC BEARINGS 174 210-250 198 14% 20th April-17 COMPUCOM SOFT 17.5 19.5-20.5 18.1 3%

2nd Dec 16 MRPL 100 119-138-149 142.8 43% 21st April-17 ALEMBIC 46.7 55-61 51.7 11%

9th Dec 16 SONATA SOFT 164 195 224 37% 28th April-17 REL INFRA 595 700 620 4%

16th Dec 16 INDIA GLYCOL 137 180-200 203.9 49% 28th April-17 DAMODAR IND 95 100 99.5 5%

30th Dec 16 MADHAV MARBLE 59 64-66 79.5 35% 2nd May-17 VIPPY SPINPRO 50 55-56 47 -6%

30th Dec 16 ORIENT BEVERAGES 160 170-172 181 13% 2nd May-17 DEEP IND 332 400 343 3%

4th Jan 17 RAIN IND 56.5 70 122.8 117% 15th May-17 TALBROS AUTO 175 210 196.1 12%