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Only Financial Weekly Published in English & Gujarati Page
57

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

VOL : 10 • Issue No: 49 RNI No : GUJENG / 2008 / 24320 21st January to 28th January 2018

FII Activity (Rs. in Cr.)

Date Buy Value Sell Value Net Value
15-01-18 5146.96 5114.04 32.92
16-01-18 8203.03 7509.86 693.17
17-01-18 7883.29 7258.16 625.13
18-01-18 9014.99 7120 1894.99
19-01-18 6104.97 5116.72 988.25
Total 36353.24 32118.78 4234.46
DII Activity (Rs. in Cr.)
Date Buy Value Sell Value Net Value
15-01-18 5146.96 5114.04 32.92
16-01-18 8203.03 7509.86 693.17
17-01-18 7883.29 7258.16 625.13
18-01-18 9014.99 7120 1894.99
19-01-18 3716.09 3506.23 209.86
Total 33964.36 30508.29 3456.07

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Financial Weekly

SMART 21st January to 27th January 2018 5

INVESTMENT

Rapid Fire Stocks

- Kalpna J (Email- Kjtech79@gmail.com) (Ring : 97690 37711) Twitter : @Kj_TechTrades

Last Few Months Recos - Asian Hotel - 177 to 321, Asian Granito - 493 -618

Deepak Nitrite Ltd

(Rs. 281.00) (Code : 506401) (F. V. 2.00)

Deepak Nitrite Ltd., incorporated in the year 1970, is a Mid Cap company (having a market cap
of Rs 3701.09 Crore) operating in Chemicals sector. Deepak Nitrite Limited is an India-based
company. The Company is a manufac- Category No. of shares Percentage
turer of organic, inorganic, fine and spe-
Promoters 60,898,467 46.59
cialty chemicals, and is a business part-
ner of chemical worldwide in pharma- General Public 24,268,618 18.57
ceutical, agro, rubber, colorants and im- Others 15,728,102 12.03
aging chemicals. It also manufactures of Foreign Institutions 15,014,168 11.49
xylidines and cumedines. The company
has four manufacturing facilities at dif- NBFC and Mutual Funds 13,747,691 10.52
ferent locations in the western part of Financial Institutions 829,180 0.63
India -one at Nandesari in Gujarat and Central Government 225,040 0.17
three at Pune, Taloja and Roha in
Maharashtra. The company was incorporated in the year 1970.
The Company operates in three business segments: organic intermediates, inorganic interme-
diates, and fine and specialty chemicals. The Organic Intermediates segment consists of nitro
aromatic plants and also multi-purpose aromatic amines plant based on catalytic hydrogenation
technology. The Fine and Specialty Chemical segment produces a range of effect chemicals for
the needs of speciality producers. These include colour intermediates for optical brighteners.
During the year the 1984-1985, the company started to manufactured 3000 TPA concentrated
nitric acid and in the same year the company commissioned its hexamine plant. During the year,
the company acquired 31 acres of land in village Kareli in District Bharuch. During the year 1986-
1987, the company started the production of new items namely, Guanidine Nitrate and Hydroxy-
lamine Sulphate.
For the quarter ended 31-12-2017, the company has reported a Standalone sales of Rs 371.14
Crore, up 4.56 % from last quarter Sales of Rs 354.97 Crore and up 34.68 % from last year same
quarter Sales of Rs 275.58 Crore Company has reported net profit after tax of Rs 20.34 Crore in
latest quarter
Buy at CMP - 282 , Targets- 320-375, Time frame - 6 to 24 Months , SL - 241
Financial Weekly

SMART 21st January to 27th January 2018 6

INVESTMENT

Jain Irrigation Systems

(Rs. 135.00) (Code : 500219) (F. V. 2.00)

Jain Irrigation Systems Limited (JISL) was incorporated in 30th December of the year 1986.
JISL is a diversified Company of Irrigation Products. There is more to Jain Irrigation than irrigation.
The Corporation has multi product industrial profile and manufacturers of Drip and Sprinkler Irriga-
tion Systems and Components; PVC, Polyethylene (HDPE, MDPE) & Polypropylene Piping Sys-
tems; Plastic Sheets (PVC & PC sheets); Dehydrated Onions and Vegetables; Processed Fruits;
Category No. of shares Percentage Tissue Culture, Hybrid & Grafted Plants;
Promoters 141,281,661 28.46 Greenhouses, Poly and Shade Houses;
Bio-fertilizers; Solar Water Heating Sys-
Foreign Institutions 172,719,455 34.80 tems and Solar Photovoltaic Appliances
Others 71,075,987 14.32 (Solar lighting systems) and Bio-Energy
General Public 68,705,552 13.84 sources. JISL render consultancy for
complete or partial project planning and
NBFC and Mutual Funds 27,081,951 5.46
implementation e.g. Watershed or
Financial Institutions 14,938,168 3.01 Wasteland and / or Crop Selection and
Central Government 560,529 0.11 Rotation. Business Divisions of the com-
GDR 2,750 0.00 pany encompasses Agricultural, Food
Processing (Seasonal), Irrigation, Plas-
tic Sheet and Solar. All the divisions of JISL were certified as ISO-9001: 2001.
JSIL had undertaken implementation of a 100% export oriented unit with separate factory at
Bambhori for the manufacture of polytubes and mouled public components and signed a MOU
with a South African Company for manufacture and marketing of their newly invented sprinklers.
Jain Plastics & Chemicals Ltd, Jain Kemira Fertilizers Ltd and Jain Rahan Biotech Ltd were amal-
gamated with the Company in the year 1996. The manufacturing facility of PVC Pipes was in-
creased its capacity to over 35,600 MTs per annum in the year 1997, as a result, the company
became as the largest single producer of PVC Pipes in the country and also in the identical year
the company made a technical collaboration with RIS of Italy for drip irrigation systems and with
Chapin Watermatios of US for multi-chambered drip irrigation.
Buy at CMP - 136 , Targets- 196-255, Time frame - 6 to 24 Months , SL - 110
Financial Weekly

SMART 21st January to 27th January 2018 7

INVESTMENT

SMART
BUY OF THE WEEK
Dark Horse

HIND ALUMINIUM LTD (531979)

(167.3) (Face Value Rs.10)
Hind Aluminium is a part of Associated Group of companies, who began operations in 1973 in
the aluminium industry. Incorporated in 1987, Mumbai based Hind Aluminium Industries Limited
manufactures and sells aluminum products. The company operates through manufacturing of Alu-
minum Products, and Power segments. It offers EC wire rods for redrawing into wires/strips for the
manufacture of cables, conductors, transformer wires/strips, and various hardware/general engi-
neering components; and all aluminum conductors, all aluminum alloy conductors, aluminum con-
ductors steel reinforced, etc. The company also mines for and sells bauxite, iron ore, and lime
stone, and other minerals. In addition, it operates two wind turbine generators and four solar power
plants with total power generation capacity of 4.18 megawatts. It is leading manufacturers of Alu-
minium Wire Rods, Alloy Rods, AAC, AAAC, ACAR, ACSR, AACSR & AL59 conductors. Its plant
is based at Dadra & Nagar Haveli, Silvassa (UT) near Mumbai, India. It has a manufacturing ca-
pacity of 40000 mt Wire Rod & 25000 MT conductors. It manufactures Conductors upto 765 KVA
voltage range.
It has an equity base of just Rs.6.30crore that is supported by huge reserve of around
Rs.69.80crore. The Promoters hold 62.12%,AnandRathi Global Finance Ltd hold 3.65%, Four Di-
mensions Securities (India) Ltd hold 2.70% while investing public hold 31.53% stake in the com-
pany. Its share book value works out to Rs.120.79 and P/BV ratio is around 1.38x, which is attrac-
tive.
For Q2FY18, HAIL's PAT jumped 170.75% to Rs.2.87crore from Rs.1.06crore in Q2FY17 on
61.24% higher sales of Rs.155.26crore fetching an EPS of Rs.4.55. During H1FY18, its net profit
zoomed 20.58% to Rs.5.39crore from Rs.4.47crore in H1FY17 on 15.60% higher sales of
Rs.296.81crore fetching an EPS of Rs.8.55.
Currently, the stock trades at a P/E of just 14.8x which is lowest against its peers. It is regular
dividend paying company. Company has paid 16% dividend for FY17.
Its market cap is only Rs.105crore and its sales stood at Rs.538.24crore on TTM bases. Stock is
available at just 0.20x market cap to sales which is highly undervalued.Investors buy this stock
with a stop loss of Rs.150. On the upper side, it could zoom to Rs.225-230 levels in the medium
term…
Cont...
Financial Weekly

SMART 21st January to 27th January 2018 8

INVESTMENT

DEEPAK SPINNERS LTD (514030)

(107.75) (Face Value Rs.10)
Deepak Spinners Ltd (DSL), located in Chandigarh, is a well-established name in the textile industry. It
manufactures and sells synthetic man made yarns in India. The company offers polyester, acrylic, viscose,
and high bulk acrylic yarns/high bulk poly-acrylic yarns, as well as polyester viscose and acrylic blends,
carpet pile yarns-acrylic and line blends with poly-viscose, and trilobal/polyester blends.It is also involved in
the generation and sale of electricity from solar power plant located in Rajgarh, Madhya Pradesh. The com-
pany also exports its yarn products, principally to Syria, the Middle East, Turkey, Belgium, and the United
States.
It has an equity base of just Rs.7.20crore that is supported by huge reserve of around Rs.104.12crore.
The Promoters hold 42.41%while investing public hold 57.59% stake in the company. M P State Industrial
Development Corporation holds 4.44%, well-known investor Subramanian P hold 3.78% stake in company.
Promoters have increased their stake by 1.21% in last one year.Its share book value works out to Rs.90.11
and P/BV ratio is around 1.20x, which is attractive.
During H1FY18, it has reported net profit of Rs.4.34crore on sales of Rs.224.39crore fetching an EPS of
Rs.6.03. Performance were depressed in H1FY18 due to GST but H2FY18 looks promising on back of
normalization of GST effect. During the past year, it has completed expansion on its Dye house at its Baddi
unit. This translates to a 30% increase incapacity for production of dyed yarn enablingthis dye house to
additionally feed itsGuna unitenabling production of value added dyed yarnthere. Upgradadation of electric-
ity supply at Baddi unitfrom 11 KV to 66 KV has been finalized and isexpected to be completed during 2017-
18. Thiswill enable the Company to get electricity atcheaper rate with reduced power tripping andfluctuations.
Its market cap is only Rs.78crore and its sales stood at Rs.410crore. Stock is available at just 0.19x
market cap to sales which is highly undervalued.Investors buy this stock with a stop loss of Rs.93. On the
upper side, it could zoom to Rs.145-150 levels in the medium term…

Nayan Patel
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Financial Weekly

SMART 21st January to 27th January 2018 9

INVESTMENT

TRADNICAL STRATEGY
Email: nimesh@nimeshthaker.com, M. 9228237373
NIMESH THAKER, BARODA

Enjoy High Tide………

But keep Distance for your Safty
Market closed at Life time high and momentum was strong , sector rotation was seen where
laggards in previous rally like IT and Pharma taken charge for current up move along with some
action with corporate banking side. We also seen bleed in some of midcap stock indicating cau-
tious sign. When I thought for next move of Index and stock , indicators suggest me that this year
we would likely to see more stock specific approach rather index level. I sticky recommend trader/
investor to avoid leverage position in current market before the crucial event ( Union Budget) and
try to seat on cash, or divert your some money in debt mutual fund which available at attractive
level.
On technical point of view Nifty has trading in the un-chartered territory where any resistance
does not matter, in this condition the best trading strategy to ride the wave are follow trailing stop
loss strategy which I was mentioning since last 2 months in my article.
For trader I recommend you follow 10600-10570 as trading stop loss at index level position and
enjoy high tide of nifty. On upside 11025-11100 could be possible resistance zone from where we
may see some consolidation or correction up-to 10700 level.
VRL Logistic Buy: 404 :- VRL is the leading Pan India surface Logistics, parcel delivery
and luxury bus service provider, having 4500+ own commercial vehicle and luxury buses. The
company is operate in hub and spoke transportation network. The business also involves in door
to door delivery of goods and is directly correlated with economic activity.
Company had designs its own vehicles with lighter weight and more space which helps to de-
liver more goods at lower cost. I believer GST and implementation of E-way bill from 1st Feb 2018,
will be key driver for company.
Company trading at estimated price earning ratio of 22 FY18E which considered as attractive
as estimate company deliver approx. 40-42% earning CAGR over FY16 to FY19E
On technical side rounding formation is seen on daily chart where neckline comes around 480
level. I believe the stock will re-test 480 level. Hence recent price correction can considered as
good opportunity for fresh long. The stock has multiple support area of 100 & 200EMA at 392 and
368 level respectively.
I recommend to buy with 10% of your trading portfolio in two parts at 400 and 380 level with stop
loss below 360 and target of 450-480 in 1-3 months horizon.
Financial Weekly

SMART 21st January to 27th January 2018 10

INVESTMENT

FIFTY – FIFTY
MAYANK SHARMA MUMBAI -Research Analyst

Last week we had recommended KAMANWALA HOUSING @ Rs.20.80,

within a highly negative week for small cap stocks it zoomed 31% to
Rs.27.25 levels.
SUNTECK REALTY LTD (512179 & NSE) (417) (Face Value Re.1)
Sunteck Realty Limited (SRL) is a Mumbai-based real estate development company, catering
to the ultra-luxury and luxury residential segment. SRL boasts of a city centric development portfo-
lio of about 23 million square feet spread across 25 projects at various stages of development and
4 rented assets. Of the said portfolio, the company within a span of 4 years has completed 6 projects
with a developed area of about 2 million square feet comprising of residential and commercial
developments.SRL works with renowned brands like Walt Disney, L&T and Talathy & Panthaky
Associated to name a few to provide a unique residential experience to its customers.
In H1FY18, SRL reported revenue of Rs.480.11crore with PAT of Rs.103.91crore. With an eq-
uity base of just Rs.12crore it has reserve of around Rs.1783crore. It has reported fantastic growth
in in terms of income and PAT in last 3 years. Last week big bulk deal seen in this counter on both
exchanges. Our reliable sources saying us that something big is cooking in this counter. AT CMP
of Rs.417, the stock is looking good for investment purpose. Considering all of the above, we
recommend a strong BUY to our investors for short to medium term.
SUZLON ENERGY LTD (532667 & NSE) (15.1) (Face Value Rs.2)
Established in 1995, today Suzlon Energy Ltd. is present in 18 countries across 6 continents. It
is one of the leading renewable energy solutions providers in the world. It has installed around 17
GW of wind energy capacity globally.
They have one of the largest in-house Research and Development (R&D) set-up with facilities
in Germany, the Netherlands, Denmark and India. Suzlon is credited with developing few of Asia’s
largest operational onshore wind farms in Gujarat, Rajasthan, Maharashtra, and Tamil Nadu. The
Kutch (Gujarat) and Jaisalmer (Rajasthan) Wind farm of Suzlon till date have a cumulative installa-
tion of approximately 1,200 MW each. Suzlon's diverse client portfolio includes companies from a
variety of industries, including private and public sector companies, power utilities and indepen-
dent power producers.
In H1FY18, it has reported revenue of Rs.3852.28crore while it has reported PAT of
Rs.118.52crore against loss of Rs.22.35crore. It has an equity base of Rs.1063.95crore. Our reli-
able sources saying us that something big is cooking in this counter. AT CMP of Rs.15, the stock is
looking good for investment purpose.
Financial Weekly

SMART 21st January to 27th January 2018 11

INVESTMENT

Solex Energy Limited

enters into the Capital Market via SME IPO
Solar Energy Limited is engaged pro- Corporate Feature
viding renewable energy solutions, spe-
cialized in the manufacturing of Solar
Objects of the Issue
1. To Meet Working Capital
photovoltaic module, solar home light, Requirement
solar street light, solar lantern, solar 2. General Corporate Pur-
power plant, solar invertors, solar wa- pose
ter heating systems and wood fired wa- 3. To Meet the Issue Ex-
ter heater etc. The company precisely penses

manufacture the offered products using optimum grade components

and advanced technology in compliance with the set norms of the
industry. The company also provide the offered appliances in numer-
ous specifications and customization in accordance with the demands
of our customers.
Solex Energy Limited(SEL) is entering into the capital market via
SME IPO. It will issue 13,80,000 equity shares of Rs. 10 each at a

fixed price of Rs. 52 per share to mobilize Rs. 7.18 crore. Issue will open on 22nd January,
2018 and will close on 25th January,2018. Minimum application is to be made for 2000
shares and in multiples thereon, thereafter. Issue constitutes 27.94% of the post issue paid
up capital of the company. Post allotment, shares will be listed on NSE SME Emerge. Swas-
tika Investmart Ltd. is the sole Lead Manager and Skyline Financial Services Pvt. Ltd. is the
registrar to the issue. Post issue its current paid up equity capital of Rs. 3.56 crore will stand
enhanced to Rs. 4.94 crore.
Solex Energy’s manufacturing facilities is situated in Anand, Gujarat. The Company was
originally incorporated on October 13, 2014 as “Solex Energy Private Limited” in Gujarat.
After Incorporation, the Company has acquired the running business of “M/s Sun Energy
Systems” a proprietorship concern of the Promoter engaged in manufacturing of Solar Pan-
els and other renewable Energy Devices since 2002 vide business transfer agreement dated
November 12, 2014. Further the Company was converted into Public Limited Company and
consequently name of company was changed from “Solex Energy Private Limited” to “Solex
Energy Limited” on September 22, 2017.
Mr. Kalpeshkumar Ramanbhai Patel has been Chairman and Managing Director of the
company. He is actively engaged in managing the company. He has more than 24 years of
experience in the solar industry. He has been instrumental in taking major policy decision of
the Company. He is playing vital role in formulating business strategies and effective imple-
mentation of the same. He is responsible for the expansion and overall management of the

Solar Energy Limited is engaged providing renewable energy solutions, special-

ized in the manufacturing of Solar photovoltaic module, solar home light, solar
street light, solar lantern, solar power plant, solar invertors, solar water heat-
ing systems and wood fired water heater etc.
1 of 3
Financial Weekly

SMART 21st January to 27th January 2018 12

INVESTMENT
business of the Company. His leader-
ship abilities have been instrumental in Solex Energy Ltd. NSE SME IPO
leading the core team of the Company. Issue Open : Jan 22, 2018 - Jan 25, 2018
Mr. Kalpeshkumar holds a degree of Issue Type : Fixed Price Issue IPO
Bachelor of Commerce and LL.B. Issue Size : 13,80,000 Equity Shares of
Rs 10 aggregating up to Rs 7.18 Cr
Solex has been certified for Photovol-
Face Value : Rs 10 Per Equity Share
taic Module (PV) by UL India Private for
Issue Price : Rs 52 Per Equity Share
complying with IEC 61215, IEC 61701,
Market Lot : 2000 Shares
IEC 61730-I&II Standard for Salt Mist
Mini. Order
Corrosion testing. It has been also certi- Quantity : 2000 Shares
fied by SGS-TUV SAAR GMBH (Ger- Listing At : NSE SME
many) for Solar Products. Also, it has
been approved company by MNRE-New Solex Energy Limited(SEL) is entering into the
Delhi, GEDA-Gujarat, CREDA, CG, capital market via SME IPO. It will issue
MPVUN-Madhy Pradesh, JREDA- 13,80,000 equity shares of Rs. 10 each at a
Jharkhand, IOCL. It has also got certifi- fixed price of Rs. 52 per share to mobilize
cate of Compliance as ISO 9001:2015 Rs. 7.18 crore. Issue will open on 22nd January,
for its Quality Management Systems and 2018 and will close on 25th January,2018
certificate of Compliance as ISO
14001:2015 certified for its Environmen- Promoter of Solex Energy Limited
tal Management Systems. Mr. Kalpeshkumar Ramanbhai Patel
is Chairman and Managing Director of the
On financial front, Solex has posted company. He is actively engaged in manag-
revenue of Rs.3449.60 lakh as on 31st ing the company. He has more than 24 years
March-2017. Its revenue was Rs.4662.14 of experience in the solar industry. He has
lakh in the earlier year. Net profit for the been instrumental in taking major policy de-
cision of the Company. He is playing vital
year 2016-17 was Rs.91.64 lakh which role in formulating business strategies and
was Rs.38.64 lakh in the year 2015-16. effective implementation of the same. Mr. Kalpeshkumar holds
a degree of Bachelor of Commerce and LL.B.

2 of 3
Financial Weekly

SMART 21st January to 27th January 2018 13

INVESTMENT
Profit for the first four months in the current year(i.e. from Its net profit for the year
April to July) was Rs.30.87 lakh. For last three fiscals it has 2016-17 was Rs.91.64 lakh
posted an average EPS of Rs. 2.49 and average RoNW of which was Rs.38.64 lakh in
20.88% on an equity base of Rs. 2.23 crore. For first four the year 2015-16. Profit for
months of the current fiscal, it has earned net profit of Rs. the first four months in the
0.31 crore on a turnover of Rs. 6.35 crore. Its reserve and current year(i.e. from April
Surplus has seen huge accumulation. At the end or March- to July) was Rs.30.87 lakh.
2015, its reserve was just Rs.9.53 lakh, which increased at Its reserve and Surplus
Rs.48.17 lakh at the end of March-2016. It again jumped at increased at Rs.48.17 lakh
Rs.139.81 lakh at the end of March-2017. Even in the current at the end of
financial year, its reserve gallopped at Rs.170.68 as on 31st March-2016. It jumped at

July, 2017.
Growth in EMDEs has strengthened from a post crisis low of 3.5% in 2016 which is
projected to reach 4.1% in 2017 and 4.5% in 2018. Global growth is projected to accelerate
from 2.4% in 2016 to 2.7 % in 2017 and 2.9 percent in 2018-19. The government’s immediate
goal is to generate 2 trillion units (kilowatt hours) of energy by 2019. It would double the
current production capacity to provide 24x7electricity for residential, industrial, commercial
and agriculture use. So, all these show that solar energy sector has huge opportunity and
Solex is ready to grab this opportunity on every front.

Solex Energy’s Products

Solar Power Plant, Solar Rooftop System, Solar PhotoVoltaic Module
Solar CFL/LED Street Lighting System, Solar Lantern, Solar Powered Petrol Station
Solar Powered Mobile Tower, Solar Water Pumping System-Surface
Solar Water Pumping System-Submersible, Solar Water Heater, Gas Fired Water Heater

LED Street Lights Solar LED Home Lighting Sys-

tems

PV Module Solar CFL Street Lights

Solar Inverter

Solar Hot Water Heater Solar System

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Financial Weekly

SMART 21st January to 27th January 2018 14

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

DESPITE VOLATILITY
BULL MARCH CONTINUES
NIFTY OVERCOMES THURSDAY'S SCARINESS :- To say that the week gone by was a
Volatile week, would be an understatement. There were two things that defined the week and that
being Volatility and Uncertainty. Despite big gap up opening on Thursday, market gave away
majority of its gains and formed a black body candle. But it overcame the bearishness on Friday,
when both Sensex and Nifty formed a bullish white body candle and closed above the high of
previous day's bearish candle. But the real scare was outside of the frontline indices when on
Thursday, the mid-cap and small-cap stocks collapsed like nine pin. Even though some recovery
has happened on Friday in the mid-cap index, one needs to be careful as we are not yet com-
pletely out of the woods.
TECHNICALLY SPEAKING :- Sensex opened the week at 34687, made a high of 35542, low
of 34687 and closed the week at 35511. Thus it closed the week with a gain of 919 points. At the
same time the Nifty opened the week at 10718, made a high of 10906, low of 10666 and closed the
week at 10894. Thus the Nifty closed the week with a gain of 213 points.
On the daily charts, both the indices have formed a real white body candle on Friday which has
overcome the bearishness of Thursday's black body candle. On the weekly charts, Sensex has
formed a big Opening White body Marubuzo, whereas Nifty has formed a big white body candle.
Thus daily as well as weekly candlestick pattern suggests a bullish bias in the near term.
This week, both the indices opened with an Upward Gap between Sensex 34687-34638 and
Nifty 10713-10690. This gap is likely to act as Support in the near term. Similarly two weeks back,
the indices had formed a bullish Gap between Sensex 34020-33995 and 10520-10513 on the
Nifty. On the lower side, this Gap will act as support.
When both the indices overcame their previous highs of Sensex 34137 and Nifty 10552, a Bull-

This Weeks Recommendations

Rec. Name CMP SL TGT-1 TGT-2
Buy L&T 1371 1343 1413 1457
Buy Kotak Bank 1060 1035 1098 1138
Buy Goa Carbon 1037 1012 1076 1119
Buy NiiTTech 728 712 753 779
Buy Biocon 569 556 590 613
:::: INDEX LEVELS ::::
S3 S2 S1 CLOSE R1 R2 R3
NIFTY 10588 10690 10782 10894 10989 11077 11162
SENSEX 34311 34700 35118 35511 35968 36362 36689
Financial Weekly

SMART 21st January to 27th January 2018 15

INVESTMENT

ish Flag pattern got completed. The target as per this pattern falls at Sensex 35679 and Nifty 11030.
These targets will be achieved as long as Sensex remains above 33703 and Nifty above 10404.
On the daily timeframe, both the indices have also completed a Bullish Saucer formation and the
target for that falls at Sensex 35165 and Nifty 10947. On the weekly timeframe, a Bullish Flag
pattern has been completed and the target as per that pattern falls at Sensex 35649 and Nifty
11293. On the weekly formation, both the indices had completed a Cup and Handle formation and
the targets are Sensex 37554 and Nifty 11413.
Last month the indices suffered a classic Bear trap. It resulted in the indices making an interme-
diate higher bottom at Sensex 32565 and Nifty 10033. This is the support level from where the
market has bounced back. The indices need to sustain above this level for the above mentioned
targets to be achieved.
This week, both the indices continued to stay above the short term average of 20dma (Sensex -
34355 and Nifty - 10603) as well as the medium term average of 50dma (Sensex - 33721 and Nifty
- 10408). Both the indices still remain well above the long term average of 200dma (Sensex -
32013 and Nifty - 9931). Thus the trend in short term as well as medium term timeframe is Upward,
whereas the trend in the long term timeframe continues to remain Bullish.
MACD and Price ROC are both positive and continue in Buy mode. RSI (76) suggests continu-
ation of Bullish momentum. Stochastic Oscillator %K (92) continues in Buy mode. ADX has turned
21 which suggest that the Up Trend is gaining strength. Directional Indicators are in Buy mode.
MFI (77) suggests Positive Money Flow. OBV continues in Buy mode making higher top higher
bottom formation. A buy has been signalled by Bollinger band on Monday. Thus Oscillators are
suggesting a bullish bias for the near term.
Options data for January series indicate highest Call Open Interest is at the strike of 11000
whereas the highest Put build-up has shifted higher at the strike of 10500. Thus Options data
suggests a trading range with resistance at 11000 & support at 10500.
Financial Weekly

SMART 21st January to 27th January 2018 16

INVESTMENT

Jignesh R Mehta
(SEBI Registered Research Analyst)
E-mail : support@kiranjadhav.com
Website : www.KiranJadhav.com
Phone: 9327 11 3344 / 9328 11 33 44
Twitter: @jigneshrmehta

Picture is Bullish above 10600

After writing last week's view on the NIFTY, there is nothing much to add to it this time because
we still believe that holding above 10600 is good sign and NIFTY should continue to inch higher in
this region. In other words, for the long view on Nifty, 10600 is our stop loss. Currently, Most of the
market enthusiasts are worried about constantly plunging MIDCAP and hence it is important for us
to throw some lights on the chart of NIFTY MID100 this time. Important marking that we did on this
particular chart is the maximum vertical distance that spot took in the year 2014 is the roughly the
same that NIFTY MID100 took recently when it was trading at 21800 kind of levels. Also in the past
the same index never took that high a vertical distance ever in its life before 2014. It simply means,
that the maximum momentum count that this index can take is already achieved and hence some
profit booking was expected. Therefore, even if MIDCAP is plunging, it is just a correction and not
a downtrend. Such a correction should not last for a considerable time. hence this fall in MIDCAP
should be used to buy and reshuffle the portfolio. For us anything above 19500 on the NIFTY
MID100 suggests bullish territory. All and all, bullish view on the Nifty continues and reader should
focus on the chart discussed in RISING STAR column updated by us every week with strict stop
loss.

RISING STARS
A2Z Infra Engineering Ltd. (40.05)
NSE: A2ZINFRA, SECTOR: Power Transmission & Equipment
Financial Weekly

SMART 21st January to 27th January 2018 17

INVESTMENT
This time A2ZINFRA has formed an important pattern and therefore we have picked up the same. If we
assess the daily chart of this counter, we can simply make out that this counter was trading at as high as
500 kind of levels in 2010. As it can also be seen from the attached chart that price for the company was
around 115 in 2012. All and all, this counter was in down trend eversince its listing and down trend was so
profound that it took price to below Rs.10 just before 2014. After 2014 the picture of the price has been
changed. If we see the attached chart, we can easily see price trading above the 1st, 2nd and 3rd support
lines. The third support line that is drawn extremely on the right side of the chart is most steeper line and it
has been associated with great volume cluster underneath it. Volume cluster is shown with blue color oval
on to the chart. Higher volume and price above support line means that the interest of the accute investors
in the counter is more and it is bullish sign. Also, an important horizontal line can be drawn on to the chart
which is significant as per the "IT DELIGHT" method. This same horizontal line suggests that the resis-
tance that this counter faced for more than 2 years prior to 2016 was once breached and became support
continuously till now. This level is nothing but the 35 kind of level. And hence it can be said that this counter
is ready to make double the money journey from 35 level i.e. Target for the stock in next two year would be
roughly Rs.70/-. Such a stock should be held if one is ready to hold this counter with a strict stop loss
placed at support line which is 35 level right now. Reader should take the consent from its financial advisor
and upon his agreement can venture in to this stock for first minimum target of Rs.70/-. Upon staring of
upside journey, reader should not forget to held this stock with trailing stop loss which nothing but the
emerging support lines in this case.
Jignesh R Mehta
SEBI Registered Research Analyst
www.kiranjadhav.com
support@kiranjadhav.com
Phone: 9327 11 33 44 / 9328 11 33 44
Twitter: @jigneshrmehta
Disclosers : Views expressed in this article/articles are personal opinion of Author and it 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 responsibility for any results that may arise out of using this information.

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

Co. Name Code Price Co. Name Code Price
Co. Name Code Price Co. Name Code Price
Mirc Ele. 500279 48.00 Reliance Ind. 500325 929.00
Marksans Ph. 524404 44.00 PC Jew. 534809 586.00
Alembic 506235 63.00 Cummisn India 500480 901.00
Man Infra 533169 67.00 La-Opala RG 526947 664.00
Madhav Marble 515093 70.00 Savita Oil 524667 1560.00
Jain Irr. (DVR) 570004 87.00 TCS 532540 2954.00
Deepak Nitrite 506401 281.00 HDFC Bank 500180 1951.00
Yash Chemex 539939 129.00 IFB Ind. 505726 1412.00
Magma Fin. 524000 174.00 Garnet Intl. 512493 1692.00
Madars Fert. 590134 47.00 Cyient 532175 653.00
Technocraft 532804 576.00 HUL 500696 1362.00
Gruh Fin. 511288 691.00 Hawkins Cook. 508486 3134.00
APL Apollo 533758 2514.00 HEG 509631 2776.00
Financial Weekly

SMART 21st January to 27th January 2018 18

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

Nifty Overview : In Last Trading Session, Nifty closed at 10916. Nifty continues to remain in
positive trend. Nifty Immediate SL or Support is at 10810 levels. Expect it move up further & to
remain in positive zone until above 10700.
Bank Nifty Overview : In Last Trading Session, Bank Nifty closed at 26890. As mentioned in
our last report Bank Nifty looks stronger than Nifty & just see what a superb move of more than
1000 points in just 1 week. Bank Nifty still remains in positive zone & has potential to move up
further. However, please note, the risks get higher with every higher level and thus now its
utmost necessary to use SL strictly in all your trades.
Last Recommendation Review
Scrip Name BSE Buy/ Enter Did High/ Remark
Code Sell at Low
Chola Fin 511243 Buy 1314 1365 Target Achieved
STAR 532531 Buy 795 820 Target Achieved
TCS 532540 Buy 2740 2966 Target Achieved
Biocon 532523 Sell 554 536 Target Achieved
Escorts 500495 Sell 816 742 Target Achieved
PC Jewellers 534809 Sell 590 569 Target Achieved
Raymond 500330 Sell 1144 1050 Target Achieved
Tata Global 500800 Sell 329 302 Target Achieved

Trading Buy
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
DHFL 511072 617 600 615 625 589
Dr. Reddy 500124 2498 2480/2495 2520 2550 2460
HUL 500696 1365 1350/1360 1385 1420 1335
ITC 500875 273 265/270 280 290 260

Trading Sell
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Biocon 532523 565 585/590 565 545 605
Escorts 500495 772 800/810 775 750 830
Raymond 500330 1081 1115/1130 1100 1070 1145
Tata Global 500800 310 317/325 300 280 335

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 21st January to 27th January 2018 19

INVESTMENT

Smart Picks Rohan Nalawade - Expert in financial analysis (Mumbai )

E-mail ID : rohan.nalavade21@gmail.com

Nifty is strong above (10750-10800) trade with cautious

Last we had stated nifty closing above 10720 will be strong ,for upside ,and now 10720 will act
as major suport for bulls ,now above 10950 which is major hurdle should cross or bulls will loose
strength and can correct ,next week is import w.d.gann time cycle so very important to watch the
behaviour of market if sustains at higher level more upside can be seen and if not able to cross
10950 upside ,market can reverse down,metal stocks are correcting so be short on metal sector
,next week is also monthly contract expiry week,so volatility can be seen ,from here one weekly
close below previous week candle will give confirmation of trend change so next week if market
corrects short position can be taken,only above 10950 close market will gain strength or it will not
Stocks to watch out
Hindalco is sell below 255 for 250-244 SL 261
Yes bank is sell below 351 for 340-330 SL 357
As ancient reprises is buy abv 196 for 202-205 SL 193

BULLISH INDIA
YOUR SEARCH FOR TOP STOCK
MARKET RESEARCH
HOUSE ENDS HERE
INDIA’S FAVOURITE STOCK MARKET
TIPS PROVIDER
YOUR ONE CLICK CAN CHANGE YOUR LIFE
(Sebi Registered)

www.bullishindia.com
9988137985
Financial Weekly

SMART 21st January to 27th January 2018 20

INVESTMENT

Technical News : 22-1-2018 to 26-1-2018

Manu Consultants : Manishkumar - Kolkata
SEBI REG:- RESEARCH ANALYST- INH300002449
• NIFTY FUTURE
NIFTY FUT SUPPORT AT 9700-9550 AND RESISITANCE 11000-11200
STRATEGY :- BUY NIFTY ON DIPS TILL 10750 SL 10550 TA 11200-400
• STOCKS F&O:-
CAN BANK (361):- BUY CAN BANK ON DIPS TILL 354 SL 346 TA 380-94
APOLLO TYRE (264):- BUY APOLLO TYRE ON DIPS TILL 255 SL 248 TA 280-88
MANAPPURAM (120) :- BUY MANAPPURAM ON DIPS TILL 115 SL 111 TA 128-32
JINDAL (265):- BUY JINDAL ON DIPS TILL 258 SL 254 TA 278-84
• SELL STOCKS
SELL DISH TV ON RISE TILL 76 SL 80 TA 65-60
SELL IRB ON RISE TILL 245 SL 254 TA 230-25
• DELIVERY STOCKS
BUY GVK POWER SL 16 TA 30-35
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

www.Chittorgarh.com
Stock Broker Share Broker Reviews
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Visit : http://www.chittorgarh.com
Financial Weekly

SMART 21st January to 27th January 2018 21

INVESTMENT

Terrific Shots - Dilip K. Shah

Shemaroo Enter (Rs.497.00) (Code: 538685) :- The stock prices remained be-
tween Rs575 and Rs316.55 in last 52 weeks. The shares' bookvalue is Rs156 and equity is Rs27.18
crore. The reserves stand at Rs439.33 crore. In the first half of FY2018, the company's income
increased from Rs209.43 crore to Rs238.01 crore, while profit increased from Rs29.23 crore to
Rs34.64 crore with EPS of Rs12.74. It is one of the leading content houses in the country. Its library
contains more than 3400 tiles. It has a huge distribution network. It has purchased rights of thou-
sands of Gujarati plays. Its royalty income is increasing. Stock can be considered for buying at
current price. The stock prices may go up after December quarter results.
NCL Industries Ltd (Rs.282.00) (Code:502168) :- Cement and cement products
manufacturing company was earlier known as Nagarjun Construction. The South-based company
has been witnessing turnaround in cement industry. In the last five years, the cement demand
decreased resulting into lower production of the company. However, this year the demand is likely
to go up in Tamil Nadu and Karnataka. The market may heat up in Andhra Pradesh and Telangana
due to low-cost housing and irrigation projects. It has increased production capacity of cement and
particles orders division. The company recently raised fund through QIP which will be used for
repayment of 150 crore debt. It is expected to clock profit of Rs71 crore on turnover of Rs971 crore
in the current financial year. The stock may touch Rs565 level in one and a half year.
Multibase India (Rs.681.00) (Code:526169) : - Auto tyre and rubber manufacturing
company is an MNC in which Dow Corning holds 75% stake. It manufactures thermoplastic, Ela
Stomers, Polypropylene Components, Silicon, etc which are mainly used in auto, engineering,
health care, stationary, personal care and other segments. The company is witnessing CAGR of
25% in topline and bottom line. In September quarter, the company's income increased by 21% at
Rs28.02 crore and profit increased by 49% at Rs5.13 crore. The company is expected to clock 30-
35% growth in near future. The stock may touch Rs900 level in two-three quarters.
Thirumali Chemical (Rs.2183.00) (Code:500412) :- Industrial and specialty chemi-
cal manufacturing company has equity of Rs10.24 crore, while reserves stand at Rs285.68 crore.
In December quarter, the company's income increased from Rs246.37 crore to Rs345.62 crore,
while profit increased from Rs15.59 crore to Rs51.46 crore. The specialty chemical companies'
future seems very bright as China has imposed ban on the factories due to pollution. The sector
may witness higher margins in future as well. The company paid 187.5% dividend for 2017. It has
proved to be a mutli-bagger in last two years as the prices have increased from Rs200 to Rs2400.
The stock may witness rerating after December quarter results.

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 21st January to 27th January 2018 22

INVESTMENT
Sarvesh Ashok Trivedi
Stock Wave (Mumbai) (Mob) 09820728124
www.chartsanketstock.com

Upward trend to continue in selected shares

BSE Index (35511.58) :- It is moving upward from bottom of 32565.15. It shows overbought
position on daily, weekly and monthly basis. On upward movement, beyond 35542 it may go up to
35580, 35655, 35750 and 35820. On the downward movement, below 35118 it may go down to
35000 and get support at 34745.
Nifty Future (10901.05) :- It is moving upward from bottom of 10052.65. It shows overbought
position on daily, weekly and monthly basis. On upward movement, beyond 10918 it may go up to
10950, 10980, 11010, 10065 and 11100. On the downward movement, below 10774 it may get
support at 10680.
Bank Nifty Future (26896.05) :- It shows improvement from bottom of 24000. It shows over-
bought position on daily, weekly and monthly basis. On upward movement, beyond 27000 it may
go up to 27165, 27300, 27450. On the downward movement, below 26620 it may go down to
26385 and get support at 26313.
ITC (274.55) :- It is moving upward from bottom of 259.55. It shows neutral position on daily
basis, while towards overbought on weekly basis and oversold position on monthly basis. On
upward movement, beyond 280 it may go up to 287, 294, 300 and 308. On the downward move-
ment, below 267 it may get support at 264.
Kotak Mahindra Bank (1060.55) :- It is moving up from bottom of 982.55. It shows overbought
position on daily basis, neutral on weekly basis and towards oversold on monthly basis. On up-
ward movement, beyond 1057 it may go up to 1065, 1073, 1080 and 1090. On the downward
movement, below 1048 it may get support at 1040.
Reliance Capital (529.25) :- Due to selling spree, the stock has come down to 626.35 and is
moving down from there. It shows oversold position on daily basis, overbought on weekly basis
and oversold on monthly basis. On upward movement, beyond 540 it may go up to 555 and 570.
On the downward movement, below 511 it may go down to 497 and 483. It is advisable to keep
distance from the stock.
Reliance Ind (931.30) :- It is moving downward from top of 958.50. It shows oversold position on
daily basis, while overbought on weekly and monthly basis. On upward movement, beyond 925 it
may witness resisting level at 947. On the downward movement, below 914 it may go down to 903,
891, 880 and 870 could be support. Don't have bearish outlook beyond 947.
Voltas (618.20) :- It is moving downward from top of 675.30. It shows oversold position on daily
basis, towards oversold on weekly basis and overbought position on monthly basis. On upward
movement, beyond 620 it may witness resisting level at 644. On the downward movement, below
584 it may get support at 573 and 562. Don't have bearish outlook beyond 644.

disclosure : The Recommendations are based on technical analysis. There is a risk of loss in trad-
ing.

-: Golden quote :-
Solve the problem or leave the problem,
But do not sleep with the problem
Financial Weekly

SMART 21st January to 27th January 2018 23

INVESTMENT

Dilip Davda Best Buy

e-mail Expert’s Eye Yes Bank,
dilip_davda@rediffmail.com Mastek,
ICICI Lombard

Side market totally sidelined

Index based trades brings
3rd week of new milestones
Third week continued to rally on index based trades and thus except for Tuesday, we mark all
the sessions positive and thus a hat trick of positive week was marked for CY18 in the first month
itself. While benchmarks maintained tempo of posting new historic intraday and closing highs,
masses holding side market scrip were in dilemma and were surprised with no advancement in
their holdings. According to seasoned observers, market is currently witnessing index based scrip
movement that is keeping the main benchmarks in green zone and also making new highs day by
day. At the current levels, market is trading at a P/E of 26.06, PB of 3.29 and dividend yield of 1.08
and raising concern as well as alarming the overheated status with overbought positions. Well,
while punters attribute these trends as pre-budget rally, experts feel that current levels are not
suiting any fresh investments. For a while, markets ignored surge in Crude Oil prices.
During the third week of CY18, indices moved in the range of 10906.85-10666.75 and 35542.17-
34687.21 for NSE Nifty and S&P BSE Sensex respectively.
Secondary Market:
On Monday indices marked gap up openings and remained in green zone for the day with
range bound trades. NSE Nifty gained 60.30 points to close at 10741.55 and BSE Sensex scored
251.12 points to end the day at 34843.51. Although Crude Oil surged above 70$ a barrel, eased
Dollar gave sigh of relief. Banking and Finance counters lead the rally and got support from select
Ex-Bonus Mid and Small cap counters. Pharma, Auto, Oil and Gas counters eased
Fiberweb (1 for 1) on profit booking. Mid and Small cap rally continued that helped market
breadth to turn positive. FIIs and DIIs were net buyers in cash for the
During the week dividend day.
announcements Though markets opened on a positive note on Tuesday after both
Rel. Nippon (50%), MindTree
(20%), Bharti Airtel (56.8%), side movements, it gave up post noon to close in red. NSE Nifty lost
Cyient (80%), Kewal Kiran (95%), 41.10 points to end the day at 10700.45 and mirroring similar trends,
Zensar Techno (50%), HCL Techno BSE Sensex marked deficit of 72.46 points to close at 34771.05. Fiscal
(100%), JM Fin (70%), Kirloskar
Oil (125%), Sherwani Ind (50%), deficit marking last three year's high propelled selling. Rupee turned
Wipro (50%) etc. weak against dollar to see a level of Rs. 64 a Dollar. While IT counters
remained in limelight, Oil and Gas, Auto, Banking counters turned weak.
ex-split
Even Mid and Small cap marked selling spree. FIIs remained net buy-
Singer India (5 for 1)
ers while DIIs turned net sellers for the day.
Bonus issue meets Divergent opening was marked on Wednesday amidst caution, but
Garnet Intl (24.01.18) as the day progressed, benchmarks posted net higher milestones for
Yash Chemex (27.01.18 ) intraday and close. NSE Nifty gained 88.10 points to close at 10788.55
La Opala on 05.02.18. and BSE Sensex scored 310.77 points to end the day at 35081.82. BSE
Financial Weekly

SMART 21st January to 27th January 2018 24

INVESTMENT
closed above 35K for the first time. Rupee firming up against Dollar and Crude Oil easing below
69$ a barrel brought cheers and market staged recovery. Banking counters lead the rally and got
support from Telecom, IT, FMCG counters. Mid and Small cap counters gained on value buying.
FIIs and DIIs were the net buyers for the day. Fiberweb turned ex-bonus (1 for 1) and Singer India
turned ex-split (5 for 1).
With gap up openings on Thursday indices moved in a narrow range with index based scrip
making up move. NSE Nifty scored 28.45 points to end the day at 10817.00 and BSE Sensex
gained 178.47 points to close at 35260.29. Yet another new higher closing was marked by both
benchmarks. Most of the trades were based on index scrip and thus Mid and Small cap counters
turned weak. Banking counters lead the rally that was kept under check by eased Metal, Realty
and Oil and Gas counters. Mid and Small cap counters met selling spree across the board that kept
market breadth negative. FIIs were the net buyers while DIIs were the net sellers. FIIs net buying
status despite erosion in market capitalization surprised all.
On Friday markets opened on a positive note and both side movements, it finally ended in
green. Banking, Realty, Capital Goods, Metal, Oil and Gas took the lead for the rally. Relaxations
announced by GST council provided the boost and firm global trends did the rest. While NSE Nifty
scored 77.70 points to close at all time high of 10894.7, BSE Sensex gained 251.29 points to end
the day at historic high of 35511.58. Both benchmarks touched new intraday milestones of 10906.85
and 35542.17 respectively. However, amidst such a scenario, market breath remained negative
raising concern as side market was turning weak day by day. It was only index based scrip surge
did this magic, opined seasoned observers. FIIs and DIIs were the net buyers for the day.
For third week of CY18, NSE Nifty and BSE Sensex posted net weekly GAINs of 213.45 and
919.19 points respectively and thus marked hat trick of positive weeks.
Rupee moved range bound to end the week at around Rs. 63.85 a dollar and Crude oil eased to
68$ a barrel after crossing 71$ mark but market ignored it for a while. As usual, Global cues will
keep triggering market moods. Q3 number season started and will keep market in stock specific
mode. Fiscal Budget meeting rounds are on and thus market is said to be in pre-budget rally mode
for a while. In absence of any major negative factors, it may keep surging ahead to post new mile-
stones. Markets will remain closed on 26.01.18 (Friday) on account of Republic Day Holiday. Be-
ing four session week with derivatives expiry in the ensuing week, market will turn highly volatile.
However, trading in overheated/ overbought market needs caution. Profit booking at higher level is
advisable. RIL announced its Q3 numbers that overshoot market expectations. This will be mir-
rored in Monday morning trades.
Amidst such a scenario NSE Nifty and BSE Sensex may hover between 11300-10400 and
36250-34500 respectively for the ensuing week.
Bonus issue meets from Garnet Intl on 24.01.18, Yash Chemex on 27.01.18 and La Opala on
05.02.18.
Scrip Watch :- Investors may keep following scrip on radar for their investment plans:
Yes Bank (BSE Code: 532648) :- This
private sector Bank has reported net profit of
Rs. 3045.12 crore on total revenue of Rs.
18327.30 crore for 3Qs of FY18 against net
profit of Rs 2415.97 crore on total revenue of
Rs. 14975.02 crore for the corresponding pre-
vious period. For FY17 it posted net profit of
Rs. 3330.09 crore on total revenue of Rs. 20581.40 crore. As on 31.12.17 it's paid up equity capital
of Rs. 459.74 crore is supported by free reserves of Rs. 24600 crore plus. Scrip may be considered
at declined levels for medium to long term investment. It currently quotes around Rs. 348.30 against
52 week High/Low of Rs. 383/266, FV Rs.2.
Financial Weekly

SMART 21st January to 27th January 2018 25

INVESTMENT
ICICI Lombard (BSE Code: 540716) :- This private
sector general insurance company has posted net profit
of Rs. 649.91 crore on a premium income of Rs.
9630.09 crore for 3Qs of FY18 against net profit of Rs.
522.22 crore on a premium income of Rs. 8249.78
crore for the corresponding previous period. For FY 17 it earned net profit of Rs. 701.88 crore on
premium income of Rs. 10960.46 crore. It continues its tradition of being the first mover in new
ideas for its customers and has recently penetrated into risk management arena. As on 31.12.17
it's paid up capital of Rs. 453.95 crore is supported by free reserves of Rs. 3875 cr. plus. Scrip may
be considered at declined levels for medium to long term investment. It currently quotes around Rs.
829.35 against 52 week High/Low of Rs. 872/619, FV Rs. 10.
Mastek (BSE Code: 523704) :- This IT software product
company has (on a consolidated basis) posted net profit of
Rs. 50.58 crore on a turnover of Rs. 607.40 crore for 3Qs of
FY18 against net profit of Rs. 21.74 crore on a turnover of
Rs. 389.20 crore for the corresponding previous period. For
FY17 it posted net profit of Rs. 32.21 crore on a turnover of
Rs. 572.58 crore. As on 31.12.17 it's paid up equity capital of
Rs. 11.80 crore is supported by free reserves of Rs. 386 crore plus. Scrip may be considered for
medium to long term investment. It currently quotes around Rs. 424.40 against 52 week High/Low
of Rs. 445/176, FV Rs. 5.
DISCLAIMER : No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities,
or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no
circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor 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)

Nifty & Sensex Movement during the last week

NSE - Nifty Open High Low Close Diff
15-Jan-18 10718.5 10782.65 10713.8 10741.55 60.3
16-Jan-18 10761.5 10762.35 10687.85 10700.45 -41.1
17-Jan-18 10702.45 10803 10666.75 10788.55 88.1
18-Jan-18 10873.4 10887.5 10782.4 10817 28.45
19-Jan-18 10829.2 10906.85 10793.9 10894.7 77.7
Net Weekly Gain 213.45
Sensex Open High Low Close Diff
15/01/18 34,687.21 34,963.69 34,687.21 34,843.51 251.12
16/01/18 34,877.71 34,936.03 34,735.55 34,771.05 -72.46
17/01/18 34,753.80 35,118.61 34,700.82 35,081.82 310.77
18/01/18 35,366.45 35,507.36 35,166.44 35,260.29 178.47
19/01/18 35,339.11 35,542.17 35,221.16 35,511.58 251.29
Net Weekly Gain 919.19
Financial Weekly

SMART 21st January to 27th January 2018 26

INVESTMENT

Scrip Watch - Dilip K. Shah

Zee Entertainment (Rs. 599.00) (Code : 505537) (F. V. :

1.00) :- Zee Entertainment Enterprises (ZEEL), last week, reported a 28.28
per cent rise in consolidated net at Rs 321.72 crore for the third quarter. Con-
solidated income rose 11.50 per cent to Rs 1,886.11 crore in the quarter under
review as against Rs 1,691.58 crore in the same quarter last fiscal. Advertising
revenue stood at Rs 1,202 crore, recording a growth of 25.8 per cent, while
subscription revenue declined steeply to Rs 501.69 crore from Rs 593.46 crore
as the company sold the sports business-Ten Sports-- to Sony. Domestic sub-
scription revenue grew by 7.5 per cent to Rs 403.6 crore, while international subscription revenue
stood at Rs 98.1 crore.Domestic ad revenue grew 26 per cent, which is a testimony to the fact that
television continues to remain the most effective medium for brand building. With a dominant time-
share along with an increasing reach, television will remain an important medium for advertisers in
the foreseeable future. The stock has zoomed from 490 to Rs.619 in last three months. At CMP of
Rs.599, the stock is worth accumulation.

MindTree (Rs. 701.00) (Code : 532819) (F.

V. : 10.00) :- Mindtree hit a 52-week high of Rs 694, up
11% on results day last week. Its net profit was up 13.4% at Rs
1.41 billion. The information technology services company had

profit of Rs 1.03 billion in previous quarter.Operational revenue grew 3.4% q-o-q at Rs 13.78 billion against
Rs 13.32 billion in September quarter. In dollar terms, Mindtree’s revenue grew 3.9% q-o-q at $ 214.3
million.Earnings before interest, tax, depreciation and amortization (EBITDA) margin improved by 350 basis
point at 15.1% against an analyst estimate of around 13%.Morgan Stanley upgraded its stock rating to
‘Overweight’ from ‘Equalweight’ and pegged a price target of Rs 745, implying a potential upside of nearly 9
percent from Thursday's close. Another international broking firm Credit Suisse raised its price target on the
Bengaluru-based firm to Rs 740 from Rs 600.Buy.

Mas Financial (Rs. 629.00) (Code : 540749) (F. V. :

10.00) ;- MAS Financial Services (MASFIN) is an Ahmedabad-head-
quartered, non-deposit-taking NBFC incorporated in 1995 by first-generation
entrepreneurs, Mr. Kamlesh Gandhi and Mr. Mukesh Gandhi. It operates out
of six states, of which Gujarat and Maharashtra account for bulk of the AUM. A quintessential NBFC, it
targets the middle and low income customer segments. Over the past five years, MASFIN’s AUM grew at
a robust 35% CAGR to reach INR37b in 1HFY18. Growth was driven by their flagship product (MEL loans)
and new product such as SME loans. MEL and SME accounts for 83%+ of the total AUM vs 64% in FY13.
The company has impeccable track record of 39% PAT CAGR over FY12-17 with consistent ROA (on
AUM) of 2%+. Given a favorable backdrop, we expect the company to deliver 25% AUM over FY17-20,
resulting in 25% EPS CAGR over the same time period.It has rounds of capital raising over the journey of
22 years. With the addition of the initial public offering (IPO) money, it does not see ourselves raising capital
within next 3-5 years next, he further mentioned. Invest.

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

SMART 21st January to 27th January 2018 27

INVESTMENT

Market Tips - Dilip K. Shah

IFB Industries (Rs. 1412.00) (Code : 505726)

(F. V. : 10.00) :- IFB Industries Ltd is an India-based
company. The company is engaged in manufacturing and
marketing engineering products. They operate in three seg-
ments, namely engineering, home appliance and others.The
companys product range includes fine blanked components, tools and related machines tools,
such straighteners, decoilers, strip loaders and others. They also provide household appliances,
including washing machines, dryers, microwave ovens, and dishwashers. In addition, they manu-
facture motors for white goods and automotive applications.Increasing distribution reach strategy
of the management to drive volume growth has started to bear fruit with strong growth across cat-
egories. New product launches coupled with mix change and domestic manufacturing would drive
margins in medium term. Re-entry into refrigerator category from Q1FY19 would further help to
drive revenues.Meanwhile, meeting of the Board of Directors of IFB Industries will be held on
Tuesday, 30th January, 2018 to consider and take on record the Unaudited Standalone and Con-
solidated Financial Results of the Company for the quarter ended 31st December, 2017 beside

HUL (Rs. 1362.00) (Code : 500696) (F. V. : 1.00) :- Hindustan

Unilever (HUL), the country’s largest consumer goods company, on Wednesday re-
ported a 30% increase in profits before exceptional items of Rs 1,198 crore, a tad better
than analysts’ estimates by Bloomberg of Rs 1,173 crore, during the October-December
quarter. This was achieved on the back of volume growth of 11% across segments.
Profit after tax, if one includes the exceptional items, stood at Rs 1,326 crore, up 28% compared to the year-
ago period. Revenues during the period rose 17% for the domestic consumer businesses, though the
reported total revenue growth was just 2%. Management was quite positive on the campaigns around
naturals range led by Lever Ayush campaign.While in last quarter, volume pick up was similar in both urban
and rural areas, in this quarter, growth in rural areas was faster.Overall, HUL with its high rural exposure
(40 percent of sales) and well entrenched distribution network, is among the key beneficiaries of further
uptick in consumption and related policy announcements, in our view.Buy in phased manner.

Prataap Snacks (Rs. 1165.00) (Code : 540724) (F.

V. : 5.00) :- Prataap Snacks (PSL) forays into sweet snacks segment
by launching a new umbrella brand ‘Rich Feast’ through its wholly owned
subsidiary. The first product under the new brand is ‘Yum Pie’, a three lay-
ered treat with sponge cake, flavoured jam and chocolate. The company
has set up a fully automated manufacturing plant by its wholly owned sub-
sidiary Pure n Sure Bites Pvt Ltd in Indore (M.P.) to manage the production
of ‘Yum Pie’.It will now get into a bigger macro-snack category from only
being a salty snacks player. It intends to grow the Rich Feast brand further
with new launches in the coming time. PSL is one of the fastest growing companies in the Indian organized
snacks market (third largest market share in the extruded snacks). Higher presence in smaller towns and
outlets, value proposition and higher salience of Rs5 packs have been driving the company’s growth. Buy.

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

SMART 21st January to 27th January 2018 28

INVESTMENT

SMART TIPS Smita N. Zaveri

Sintex Plastics (Rs. 76) (Code: 540653) :- Shares of Sintex Plastics are listed in the
B Group and have face value of Re. 1. The shares touched a 52-week high of Rs. 136 and low of
Rs. 67. It came into existence following demerger of Sintex's plastics and textile businesses. It
operates mainly in two segments - Custom Moulding Solutions and Building Products Solutions.
Its clients include Fortune 500 companies. Some big names include Audi, Nissan, Toshiba, Hitachi,
Cummins, Airbus, Boeing, BHEL, NTPC, among others. It doesn't have any expansion plans for
the moment, and will be able to pare its debt quickly. There is likelihood of re-rating of the stock.
Sintex reported income of Rs. 1,333 crores and profit of Rs. 52 crore in the third quarter, which was
100% higher than the second quarter. Trading near the 52-week low at present, the stock can be
seen touching Rs. 150 levels in 4 to 6 months.
Marksans Pharma (Rs.44.00) (Code: 524404) :- Shares of this A group listed
pharma sector company have face-value of Re. 1. In the last 52 weeks, the shares touched high of
Rs. 58 and low of Rs. 34. The company is engaged in generic pharma formulations manufacturing,
retailing and marketing. The company's plant in Goa has received approval from the UK as well as
Australian health regulator. Moreover, it is launching four new products in US, and is awaiting
USFDA approval for Softgal capsule. US and UK account for 80% of its income, and is gearing up
for entry in more European markets. It plans to expand capacity at its Navi Mumbai facility. For
September quarter, Marksans reported income of Rs. 274 crores and profit of Rs. 10.41 crores. Its
equity is Rs. 51.93 crores, net-worth Rs. 454 crores, total debt Rs. 109.71 crores, reserves at over
Rs. 378 crores, and market cap at Rs. 1,780 crores. The share can be seen in the range of Rs. 65-
70 in the short term.
Jain Irrigation (Rs. 135.00) (Code: 500219) :- The shares of this A group listed
company have face-value of Rs. 2. The share touched a high of Rs. 146 and low of Rs. 82 in the
last 52 weeks. It is the largest company in the country engaged in irrigation sector. It has presence
in various fields, and is the global leader in some. It is expected to benefit from the government's
focus on agriculture and irrigation. Promoter holding in the company is 28.46%. For September
quarter, it reported consolidated income of Rs. 1,598 crores, and net profit of Rs. 13.31 crores. Jain
Irrigation has a debt of Rs. 3,455 crores, and the high interest outgo impacts its bottom-line. How-
ever, the management is looking to lower its debt. The central government has lowered GST rates
on drip irrigation products by 4%. In the GST Council meeting on January 18, tax rate on laterals,
sprinkler products, and others was lowered from 18 to 12%. Along with the pre-budget rally, the
stock is also likely to rally post-budget. It can cross the 52-week high price in the short term and
touch Rs. 150.
Ashok Leyland (Rs. 121.00) (Code: 500477) :- Shares of this commercial vehicles
manufacturer are listed in the A group and have face-value of Re. 1. The share touched a 52-week
high of Rs. 133 and low of Rs. 81. A part of the Hinduja Group, Ashok Leyland is the fourth largest
producer of buses in the world and 12th in trucks. It has presence in over 50 countries. Its range of
products includes trucks, buses, engines, defence and specialty vehicles. It is also getting good
orders from Defence. On January 18, the company tied up with Israel's Phinergy for electric com-
mercial vehicles. For the September quarter, it reported income of Rs. 6,047 crores, and profit of
Rs. 334.26 crores. Ashok Leyland will announce its December quarter results on February 1, which
are expected to be very good. Growing demand for commercial vehicles will boost its income and
profit. It is likely to gain market share going ahead. The stock is a good bet for investors.
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 19th January 2018 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

SMART 21st January to 27th January 2018 29

INVESTMENT

Smart super duper - Dilip K. Shah

Muthoot Capital (Rs.821.00) (Code:511766) :- Muthoot Capital is also a Kerala-

based Gold Loan provider like Muthoot Finance but it is smaller in size. However, it has been
witnessing good growth for quite some time. It issued bonus in ratio of 10:1 in June 2017. In De-
cember quarter, the company's income increased from Rs69.88 crore to Rs105.14 crore, while
profit increased from Rs6.44 crore to Rs15.70 crore with EPS of Rs10.37. Birla, SBI, DSP, Sundaram
and other mutual funds hold a considerable stake in the company. Along with gold loan the com-
pany has entered into other segments also which is being reflected in the strong results. The stock
prices have also improved after the strong results so it can be considered for buying on downward
movement. The stock may get into four figures by March results.
Technocraft (Rs.576.00) (Code:532804) :- Mumbai-based company was incubated
in 1972. It has different divisions like steel tube, scaffoldings, tower division, form work, cotton yarn
and garment. As against equity of Rs26.30 crore, the company has reserves of Rs662.59 crore. In
the first half of FY2018, the company's income increased from Rs390.44 crore to Rs465.82 crore,
while profit decreased from Rs58.79 crore to Rs56.08 crore. The company is performing well on
the export front. It had come up with buyback offer in January 2016 and is also buying back shares
currently.
Man Infra (Rs.67.00) (Code:533169) :- Big Bull Rakesh Jhunjhunwala holds 1.21%
stake in the company. The stock prices remained between Rs74.55 and Rs37.8 during the year.
The company's market cap is Rs1650 crore. The promoters hold 63.16% and public hold 36.84%
stake in the company. In the first half of FY2018, the company's income increased from Rs150.04
crore to Rs264.11 crore, while profit increased from Rs24.6 crore to Rs33.32 crore with EPS of
Rs1.32. The infrastructure segment company's performance has been robust for quite some time.
The government is also likely to pay more attention to the infrastructure segment in this budget.
The stock can be considered for investment in small size and if the government makes positive
announcement in the budget it can be bought in phased manner.
GDL (Rs.235.00) (Code:532622) :- The logistic facility company provides container
freight station, inland container depot, rail movement of container and other services. It owns two
container freight stations at Mumbai, while one each at Chennai and Vishakhapattanam. As against
equity of Rs108.73 crore, the company has reserves of Rs909.14 crore. In the first half of 2018, the
company recorded profit of Rs19.72 crore on the income of Rs161.1 crore. It has good track record
of paying dividends. It paid 30% dividend for 2018. Due to poor results the stock prices have cor-
rected a lot. The fund holding is very high so it seems to be an attractive option. It can be invested
in phased manner. It may improve its performance in the second half.

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 21st January to 27th January 2018 30

INVESTMENT

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

E-mail : divanconsultancy@rediffmail.com

Some profit booking

As expected markets are taking breaths at higher levels. In certain shares there is heavy selling
observed at higher level. In 2018 in three weeks market has gone up very fast so some correction
is needed for strength.
The volatility is very high at 35000 plus.
On Thursday nifty was closed at 10817 and index at 35260.its good that level of 10800 and
35000 level matained.in nifty selling pressure was witnessed above 10880.10790 and 10775 are
two support levels. The resistance level is 10865 and 10880.markets should remain above 10880
levels for two days on closing basis. This may confirm further up trend.
Next week we have short trading days plus F&O last day. This requires caution for bulls.
In us anti dumping duty was imposed on steel. That's why good correction observed in Tata
Steel, Jindal steel, JSW and sail. We may see further correction in steel companies.
In weak counter fed bank, IDFC, Adani Power and DLF on any rise traders may short.
The government has again reduced GST rates on certain items. In the meeting there was no
decision on bringing petrol and real estate under GST. The next meeting decision may be taken.
Bank nifty went up to 26800 and there was profit booking up to 26500. The support is 26200 and
if it taken out, we may see 2600.
Bharti Airtel profit is down. Reliance JIO effect is seen in earning. It is better to book profit in this
counter.
On Thursday R.com went down to almost circuit level. On Friday also not able to sustain at
higher level. We feel that Rs.31.5 to Rs.32 is good level to short with 0.50 paise as s/l.
Reliance capital has also come down from 575 level to 515 level. On any rise its good short.
Axis bank also looking weak at higher level.
KPIT on Thursday went down from 205 to 192 levels. Any rise up to Rs.199 is good short with s/
l at rs201.5.
Mind tree has come out with good results. Any deep in market buy for investments above Rs705
it mat spurt further
Financial Weekly

SMART 21st January to 27th January 2018 31

INVESTMENT

Investment Ideas telegram.me/rupeegains7

NIFTY :- For nextweek NIFTY has strong support around 10840 levels. Break will take it
to 10760 levels. On the upper side NIFTY will face strong hurdle at 10950 levels, cross over
with volume and close above will create short covering at take NIFTY up to 11010 levels…
BANK NIFTY :- For next week BANK NIFTY has strong support around 26605 levels.
Break will take it to 26425-26285levels. On the upper side BANK NIFTY will face strong
hurdle at 27050 levels, cross over with volume and close above will create short covering at
take BANK NIFTY up to 27250 levels…

SHORT TERM to MEDIUM TERM INVESTMENT IDEAS…

TEJAS NETWORKS LTD(540595& NSE) (405) (Face Value Rs.10) :- During
Q3FY18its PAT zoomed 158.49% to Rs.30.14crore.In 9MFY18 it's PAT zoomed 199.15% to
Rs.77.45cr. It is looking strong bet for medium to long term investment purpose. Everyone, whose
financial advisor is allowing to trade in this stock for medium term to long term can watch a stop
loss of Rs.380.
ARIHANT CAPITAL MARKETS LTD(511605) (167.25) (Face Value Rs.5) :-
Arihant Capital Markets Limited, together with its subsidiaries, provides various financial products
and services to individuals, corporations, and financial institutions in India and internationally. The
company's services include equities, commodities, interest rate futures, and currencies broking
services; the distribution of mutual funds, corporate fixed deposits, bonds, and IPOs; priority client
group and financial planning services; and merchant banking and investment banking services.
During H1FY18, its PAT zoomed 77.7% to Rs.13.62crore on 115% higher income of Rs.53.71crore.
It is trading at PE ratio of just 15 which is cheapest against PEERS. Everyone, whose financial
advisor is allowing to trade in this stock for short term to medium term can watch a stop loss of
Rs.150.
PHYTO CHEM (INDIA) LTD(524808)(71) (Face Value Rs.10) :- Incorporated in
1989, Hyderabad based PhytoChem (India) Limited manufactures and markets pesticides for agri-
culture sector in India. Its products include insecticides, synthetic pyrethroids, fungicides,
weedicides, acaricides, plant growth regulators, and antibiotics. During H1FY17, its PBT soared
86.31% to Rs.1.77crore from Rs.0.95crore in H1FY16 and PAT soared 25.26% to Rs.1.19crore on
higher sales of Rs.30.94crore fetching an EPS of Rs.2.82. Everyone, whose financial advisor is
allowing to trade in this stock for short term to medium term can watch a stop loss of Rs.65.
ADVANI HOTELS & RESORTSLTD (532269& NSE) (77.15) (Face Value
Rs.2) :- Advani Hotels & Resorts (India) Ltd., previously known as Ramada Hotels (India) Ltd., is
a public limited company incorporated in March 1987. The Company is owning and managing a 5-
star deluxe luxury beach resort, 'The Caravela Beach Resort' (previously known as *Ramada Re-
naissance Resort, subsequently the Ramada Caravela Beach Resort, Goa), which is spread over
24 acres, comprising of 192 rooms, 4 Suites and 6 Villas with private balconies, which overlook the
landscaped gardens, the golf course and the Arabian Sea. The resort is located on the serene
white sands of Varca beach, Goa.
It has an equity base of just Rs.9.24crore that is supported by reserves of around Rs.33.93crore.
The promoters hold 50.17% while the investing public holds 49.83% stake in the company. DELTA
Corp holds 33.94% stake and well-known investor & promoter of DMART Mr. RK Damani holds
3.76% stake in this company. Promoters, DELTA Corp & RK Damani holds around 88% stake in
this company.Company has reported net profit of Rs.2.26crore, Rs.3.60crore, Rs.6.40crore&
P.T.O.
Financial Weekly

SMART 21st January to 27th January 2018 32

INVESTMENT
Rs.8.79crore in last 4 years while interest cost remains Rs.2.17crore, Rs.1.69crore, Rs.1.04crore
& Rs.32lakh in these four years.
It has paid 25% interim dividend for FY18.Everyone, whose financial advisor is allowing to trade
in this stock for short term to medium term can watch a stop loss of Rs.70.
SAKTHI FINANCE LTD(511066) (46.2) (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 com-
mercial vehicles; and financing for purchasing infrastructure construction equipment, multi-utility
vehicles, cars, jeeps, and other machinery. 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 49
branches located in Tamil Nadu, Kerala, Andhra Pradesh, Karnataka, Maharashtra, Haryana, and
the Union Territory of Puducherry.
Bridgewater Investment Corporation Ltd holds 8.90% stake in this company. It has a share book
value of Rs.27.02 & price to book value ratio is around 1.55 which is cheapest in NBFC segment.
During H1FY18, its net profit zoomed 6.72% to Rs.7.46crore on income of Rs.80.92crore fetch-
ing an EPS of Rs.1.49.
Currently, the stock trades at a P/E of just 12.2x which is lowest in NBFC space.
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.Everyone, whose financial advisor is allowing to trade in this stock for short term
to medium term can watch a stop loss of Rs.35.
AKAR AUTO INDUSTRIES LTD (530621)(75.3) (Face Value Rs.5) :- Incor-
porated in 1989, Aurangabad based AAIL manufactures and sells hand tools, auto leaf springs,
parabolic springs, and commercial automotive forgings in India. The company has prestigious
clients like Ashok Leyland, BAJAJ Auto, BHEL, Force Motor, TATA Motor, Mahindra, Kirloskar,
Piaggio, Greaves etc. in its client list and also exports its products to Europe, the United States,
Japan, Australia, and other countries worldwide.
It has an equity base of just Rs.5.39crore that is supported by reserves of around Rs.22.12crore.
The Promoters hold 73.06% while the investing public holds 26.94% stake in the company.
For Q2FY18, PAT soared 66.10% to Rs.0.98crore from Rs.0.61crore on 32.47% higher sales of
Rs.61.80core fetching an EPS of Rs.0.91. During H1FY18, PAT jumped 34.74% to Rs.1.59crore
from Rs.1.18crore in H1FY17 on 11.8% higher sales of Rs.107.56crore fetching an EPS of Rs.1.47.
On PAT front it has reported 40% CAGR growth in last 4 years which is mind-blowing.
Currently, the stock trades at a P/E of 25.7x.
Based on the above financial and performance parameters, the "AAIL" share looks quite attrac-
tive at the current level. Anyone who has risk appetite up to Rs.62 along with the consent of their
personal financial advisor can venture in to the stock for short term to medium terminvestment.

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

SMART 21st January to 27th January 2018 33

INVESTMENT

MARKET TREND NIKHIL BHATT

(+919979380808)
WWW.INVESTMENTPOINT.IN

PERIOD : 22-1-2018 to 26-1-2018

NIFTY FO RANGE @ 10830 TO 11009 POINT IN SHORT TERM…!!!

NIFTY FO has resistance at 10933 - 10971 Point; above which other resistance levels are at 11009 -
11017 Point with highly Volatile Trend, In Downside support levels are at 10870 - 10830 Point; below 10830
Point, other support levels are at 10818 - 10760 Point.
I am positive for next bullish trend only above @ 11009 Point but be with the trend. Let the market decide
further moves. As we are saying from many days Buying is suggested in falls only...and it's still a better
strategy in the given Scenario...!!!
Regarding Long term positions, it is preferable to remain cautious now...!! If NIFTY FO crosses @
11009 Point, again then the upper side target is quite high and it may touch @ 11017 Point in short term...!!!
BANK NIFTY FO CLOSED @ 26894 AS ON 19.01.2018
BANK NIFTY FO Range @ 26707 TO 27027 Point In Short Term…!!!
BANK NIFTY FO has resistance at 26933 - 27027 Point; above which other resistance levels are at
27091 - 27127 Point with highly Volatile Trend, In Downside support levels are at 26808 - 26730 Point;
below 26730 Point, other support levels are at 26707 - 26630 Point.
I am positive for next bullish trend only above @ 27027 Point but be with the trend. Let the market decide
further moves. As we are saying from many days Buying is suggested in falls only...and it's still a better
strategy in the given Scenario...!!!
Regarding Long term positions, it is preferable to remain cautious now...!! If BANK NIFTY FO crosses
@ 27027 Point, again then the upper side target is quite high and it may touch @ 27127 Point in short
term...!!
Golden Stocks For Trading For the date - 22.01.2018 to 26.01.2018
1. INDUSIND BANK (1683) : It is suggested to Buy @ Rs 1670 with SL of Rs 1657 for the target of Rs
1699 - 1707; below Rs 1657 it can fall up to RS 1650 - 1644 levels. If it crosses Rs 1707 level than expect
nonstop rally up to Rs 1713....!!
2. CIPLA LTD (603) : Trading point of view Buy @ Rs 590 With SL of Rs 583 for the target of Rs 623 -
636 level below Rs 583 It can show further downfall up to Rs 577 …..!!!
3. HIIND PETRO (418) : Buy @ Rs 406 levels considering minor support of Rs 401 and stop loss of Rs
397 for an upper target of Rs 433 - 440 levels. Below Rs 397 it can slip up to RS 393 - 388 levels…!!!
4. M & M (767) : Buy @ Rs 753 levels considering minor support of Rs 751 and stop loss of Rs 747 for
an upper target of Rs 782 - 790 levels. Below Rs 747 it can slip up to RS 744 - 740 levels…!!!
5. WIPRO LTD (328) : Buy @ Rs 313 levels considering minor support of Rs 309 and stop loss of Rs
303 for an upper target of Rs 340 - 346 levels. Below Rs 303 it can slip up to RS 297 - 293 levels…!!!
6. ORIENT HOTELS (57) : Delivery base Buy of this stock near @ Rs 53 with SL of Rs 51 for the target
of Rs 64 - 72 level. It is very good for medium term position also…!!!
7. SAHARA HOUSING (75) : This stock is looking very good to Buy @ Rs 67 with SL of Rs 63 for the
target of Rs 82 - 90 Levels below Rs 57 is stock shall witness free fall…!!!
8. CENTURY TEXT (1409) : It is suggested to Sell with SL Rs 1424 for the target of Rs 1393 - 1387
below @ Rs 1387 it can slip up to Rs 1380 - 1373 level. Above Rs 1424 level will take the stock to Rs 1430
- 1437…!!!
9. DIVIS LAB (1097) : It is suggested to Sell @ Rs 1109 with SL of Rs 1111 for the target of Rs 1083 -
1077; below Rs 1077 it can fall up to RS 1070 - 1063 levels. If it crosses Rs 1111 level than expect nonstop
rally up to Rs 1117....!!
10. INFOSYS ( 1147 ) : It is suggested to Sell with SL Rs 1161 for the target of Rs 1133 - 1127 below
@ Rs 1127 it can slip up to Rs 1120 - 1113 level. Above Rs 1161 level will take the stock to Rs 1166 -
1180…!!!
11. RELIANCE CAPITAL ( 530 ) : It is suggested to Sell @ Rs 544 with SL of Rs 547 for the target of
Rs 517 - 513; below Rs 513 it can fall up to RS 509 - 503 levels. If it crosses Rs 547 level than expect
nonstop rally up to Rs 553....!!
Note: - Before Act Please refer Terms & conditions, Disclaimer on WWW.INVESTMENTPOINT.IN
 Financial Weekly

SMART 21st January to 27th January 2018 34

INVESTMENT

GVK Power... Soham Finstock

(M. : 9106458805)
Rs.27.85 from Rs.11 within 3 months E : soham.finstock10@gmail.com
Telegram : t.me/sohamfinstock

It had already been cautioned in smart investment that huge volatility will be observed in the
beginning of 2018 and so was proved indeed the recent week.In addition,we also warned to avoid
trading in Future and option segment as well as dabba trading.Moreover,we clearly suggested to
strictly focus on quality stocks now and then in most of the editions.Recent week we covered an
important topic on how will the stock market be in 2018 for 6 zodiac signs and we received enor-
mous positive response and appericiation.In this edition,we will cover the remaining 6 zodiac signs.
Libra (Tula rashi) : Jupiter is powerful. Third aspect of saturn on stock market indicates
handsome profit can be earned from stock market.On amavasya, donate black clothes.
Scorpius (Vrushik Rashi) : Saturn's sade sati is present.Don't invest in stock market
from borrowed money.Invest the money earned in stock market in other financial segments.Read
hanuman chalisa everyday.
Sagittarius (Dhanu Rashi) :Panoti is present.Due to which don't overtrade.Jupiter is
powerful and will play crucial role in profit making.Every saturday,do upasana of hanuman chalisa.
Capricornus (Makar Rashi) : Short term and medium term investment will be
profitable.Chanting of isht devta is suggested.
Aquarius (Kumbha Rashi) :Good profit can be earned from stock market till August
2018.Need to be cautious after July 2018.Regular trading with strict stop loss is permitted.
Pisces (Meen Rashi) : Presence of Rahu in 5th house is dangerous.One need to stay
away from frequent losses.Offer jowar grain to pigeons.
On 31/1/2018, Khagras chandra grahan will be observed in India.Its effect on an individual and
stock market in general will be discussed in next issue.
Flash :As per astroview,it seems Nifty 50 and sensex will be quite bullish whereas no surprise
if progress not observed in mid cap and small cap.Index will keep on rising whereas mid cap and
small cap might not perform up to the mark.The situation of stock market is just like an
attractive,decorative box perhaps when opened had we knew will be empty.
Focus on the following stocks at every decline:
1) Delta Corp(CMP Rs.337.30) 2) Morepen Laboratories (CMP Rs 41.45)

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

Godrej Consumer 1050.00 Siemens 1296.00
Bhushan Steel 65.00 ACE 159.00 Kotak Bank 1060.00 ONGC 193.00
J. P. Asso. 21.00 Thomas Cook 248.00 NIIT Techno 728.00 IDFC Bank 58.00
Ansal API 29.00 Swelect Energy 473.00 GSK Healthcare 6636.00 Hind. Zinc 300.00
Brooks Lab. 105.00 Adani Port 433.00 Bharat Forge 735.00 IDBI Bank 60.00
Pricol 116.00 Wonderla Holiday 415.00 Tata Steel 751.00 Zensar Techno 909.00
Jain Irri. 135.00 Kakatiya Cement 384.00 ICICI Pru. 429.00 NBCC 240.00
Titagar Wagons 167.00 Yes Bank 348.00 PNB Housing 1303.00 Dalmia Bharat 3027.00
Panacea Bio 270.00 TPL Plastics 687.00 Ambuja Cement 268.00 Adani Enter 199.00
DCB Bank 190.00 Adani Trans. 227.00 SRF 1907.00 R. Com. 29.00
Sterlite Techno 376.00 U-Flex 468.00 Zee Enter 599.00 Bharti Infra 346.00
Adlabs 65.00 Just Dial 555.00 Dabur India 363.00 DLF 249.00
Equitas 154.00 Adani Port 433.00 Mastek 424.00
PPAP Auto 642.00 Kridhan Infra 120.00 HDIL 61.00
Financial Weekly

SMART 21st January to 27th January 2018 35

INVESTMENT

Primary Market - Dilip K. Shah

Heard of IPOs enters primary market to reap benefit of pre-budget rally in secondary market
This week Five SME and One Main Board issues are in the market while three SME IPOs have been announced
BSE SME issue of CRP Risk Management has opened on January 18: Ashoka Metcat to open on Jan 23
NSE SME IPOs - Solex Energy, Shree Ram Proteins and Vasa Retail to enter into market this week
Mainboard issue of Galaxy Surfactants with issue price of Rs1470 to Rs1480 to open on Jan 29
Apollo Micro to get listed on Jan 22 with a bang
Amber Enterprise IPO gets robust response, while NewGen gets average response
Ahmedabad-based John Energy, with backing of Rakesh Jhunjhunwala, filed
documents with SEBI for Rs300 crore issue
Smart Investment's prediction that Amber will get 12 times subscription in retail
and NewGen to get 4 times response in retail turned 100% true
NSE SME IPO Silly Monks got listed in upper circuit of 20%, while SKS Textiles got listed in discount
How and when will be NewGen and Amber Enter IPO ?
Government approaches SEBI for IPO of two PSUs and Mix Metal Corporation
BarbeQue Nation Hospitality gets Sebi nod for Rs700 crore IPO

The secondary market has turned bullish since beginning of the new year and the companies
are eager to reap benefit of the same. So garner maximum benefit of the pre-budget rally in the
secondary market a host of companies, who were sitting on the fences, have jumped into the fray
and coming up with IPO.
Last week's two IPOs: NewGen Software and Amber Enterprise have sailed through. Last week
there was no issue but this week nine IPOs have been announced including one mainboard issue
of Galaxy Surfancts and 8 SME issues.
* Last week's issues:-
• NewGen Software :- Rs425 crore issue with offer price of Rs240 to 245 opened on January 16
and closed on January 18.
Subscription :- It has got 15.80 times subscription in QIB, 5.54 times in HNI and 5.21 times in
retail category taking overall subscription to 8.3 times.
It should be noted that in the last edition of Smart Investment, we correctly predicted that the
issue will get average response in all categories.
Allotment : The allotment may be on Jan 23 and fund unblocking on Jan 24, while shares may
get deposited in account on Jan 25. In this issue the allotment ratio will be 17:4.
Discovery Price : it could be at 425.
Listing :- The issue may get listed on January 29 around 260-275. However, if it fails to get
support from the market the listing might be in discount also. If the speculative trading boosts the
artificial bullish trend then the stock prices may cross Rs300 level. However, it is advisable to book
profit.
• Amber Enterprise :- The issue with price band of Rs855-859 closed on January 19.
Financial Weekly

SMART 21st January to 27th January 2018 36

INVESTMENT

BSE SME IPO

Sr Company Issue Open Dt. Issue size Offer price Minimum Rating Remark
Issue Close Dt. (Rs. Cr.) (Rs.) Applications Size %
1. CRP Risk 18-1-2018 51,36,000 Eq. 60 2000 Shares
25 % RISKY
Management 22-1-2018 (Rs. 30.82 Cr.) (Rs. 1,20,000)
2. Ashoka 23-1-2018 60,00,000 Eq. 20 6000 Shares
29 % AVOID
Metcast 25-1-2018 (Rs. 12 Cr.) (Rs. 1,20,000)
3. Gautam 24-1-2018 21,00,000 Eq. 36 3000 Shares
NEXT WEEK
Gems 30-1-2018 (Rs. 7.56 Cr.) (Rs. 1,08,000)
4. Gujarat 25-1-2018 44,50,000 Eq. 10 10000 Shares
NEXT WEEK
Hy-Spin Ltd. 31-1-2018 (Rs. 4.45 Cr.) (Rs. 1,00,000)
5. Medico 29-1-2018 10,99,200 Eq. 100 1200 Shares
Remedies 31-1-2018 (Rs. 10.99 Cr.) (Rs. 1,20,000)
NEXT WEEK

NSE SME IPO

Sr Company Issue Open Dt. Issue size Offer price Minimum Rating Remark
Issue Close Dt. (Rs. Cr.) (Rs.) Applications Size %
1. Solex 22-1-2018 13,80,000 Eq. 52 2000 Shares 38 % Apply for
Energy 25-1-2018 (Rs. 7.18 Cr.) (Rs. 1,04,000) Mid-Long Term
2. Shree Ram 23-1-2018 64,20,000 Eq. 27 to 31 4000 Shares
34% Average
Protiens 25-1-2018 (Rs. 19.90 Cr.) (Rs. 1,24,000)
3. Vasa Retail 24-1-2018 16,00,000 Eq. 30 4000 Shares 40% Apply for
& Overseas 29-1-2018 (Rs. 4.80 Cr.) (Rs. 1,20,000) Short Term (Listing Gain)

Subscription Figures of SME IPO

IPO Listing Day Subscribed
CRP Risk Management BSE SME 2nd Day Subscribed 0.44x
Galaxy Surrfactants Subscription :- It got 175.82 times subscription in QIB,
Retailers may apply
Shares Amt. Shares Amt. 521.71 times in HNI, 11.75 times in retail and 2.27 times
10 14800 70 103600
20 29600 80 118400 in employee category with overall subscription of 165.42
30 44400 90 133200
40 59200 100 148000 times.
110 162800
50 74000 120 177600 It should be noted that we had correctly predicted that it
60 88800 130 192400
will get more than 12 times subscription in retail and three
Subscription Figures of digit subscription in HNI category.
Newgen Software Limited Allotment :- Allotment may take place on Jan 24, fund
No. Shares Issue Subscribed
unblocking on 25 and share deposit on Jan 29. Out of
Offered/ 16-1-18 17-1-18 18-1-18
Reserved every 10 applicants one will get 17 shares.
QIB 35,06,688 0.10x 0.10x 15.80x Listing :- The listing may take place on Jan 30 around
HNI 26,11,840 0.01x 0.03x 5.54x
Retail 60,94,293 0.32x 1.33x 5.21x Rs1300 to 1350. However, good market condition may
Total 1,22,12,821 0.19x 0.70x 8.31x
take it to 1400 plus. It is advisable to book profit by selling
Subscription Figures of 50% shares.
Amber Enterprise India This week's Listing :- Apollo Micro may get listed on
No. Shares Issue Subscribed
Monday Jan 22 with a bang. As against offer price of
Offered/ 17-1-18 18-1-18 19-1-18
Reserved Rs270-275 it may get listed around Rs425 to 475 and
QIB 13,93,578 2.02x 6.03x 175.82x
share prices may cross Rs500 level as well. Book profit
HNI 10,45,132 0.10x 0.49x 521.71x
Retail 24,38,641 0.88x 3.61x 11.70x by selling 50% shares at Rs500 level.
Emp. 50,000 0.33x 1.25x 2.27x
Total 49,27,351 1.03x 3.61x 166.19x
• Galaxy Surfactants :- The issue with offer price of
 Financial Weekly

SMART 21st January to 27th January 2018 37

INVESTMENT

Main - line IPO (Non SME)

Sr Company Issue Open Dt. Issue size Offer price Min. Rs. 1,00,00 Rs. 2,00,000 Listing Lead Rating Remark
Issue Close Dt. (Rs. Cr.) (Rs.) App. Limit Limit Manager %
1. Galaxy 29-1-2018 63,31,674 Eq. Shares 1470 to 1480 10 Shares 60 Shares 130 Shares BSE Edelweiss, NEXT
Surfactants 31-1-2018 (Rs. 937.09 Cr.) Rs. 14,800 Rs. 88,800 Rs. 1,92,400 NSE ICICI Sec. WEEK
(Book Building) J M Fin.

Grey Market Premium

Rs325 to 340 entered into the market in IPOs Offer Price Premium Kostak Price Subject to Sauda
Name (Rs.) (Rs.) Min.Appl.(Rs.) (Confirm) (Rs.)
May 2011 but was withdrawn due to poor
Apollo Micro 270 - 275 198-200 -- --
response. It has re-entered into the market. Newgen Soft. 240 - 245 12 to 14 200 800
The book building issue offering (Seller)
Amber Enter. 855 to 859 480-485 625 7000
63,31,674 shares through OFS at price of (H : 520)
Rs1470-1480 to raise Rs937 crore will Galaxy Surf. 1470-1480 520-525 500-550 --
SME IPO
open on Jan 29 and close on Jan 31. Mini- Solex Energy 52 11000
mum application would be for 10 shares. Shree Ram 27 to 31 9000
Vasa Retail 30 18000
In this issue 50% shares are reserved for
Ashoka Met. 20 -- 8500
QIB, 15% for HNI and 35% for retail inves- Do not subscribe for IPO by just seeing premium price as it may change anytime
before listing : Subscribe only considering fundamental of the Companies
tors. Lead managers are ICICI and Edel-
For latest grey market premium please check everyday
weiss, while registrar is Link Intime. More www.smartinvestment.in

details will be given next week.

* This week's SME IPOs:- Listing Information of SME IPOs
Co. Name Code Listing Date Offer Listing Listing Listing Listing CMP
• BSE SME IPOs :- This week two Price Price High Low Day Close 19-1-18
Silly Monks NSE SME 18-01-18 120 144 144 144 144 143.5
BSESME IPOs are entering into the mar- SKS Textiles NSE SME 19-01-18 150 149.9 151 131 133.9 133.9
ket : CRP Risk Management and Ashoka
Metcast. Analysis of both are given in sepa- Tentative Timetable for Main Board IPO’s
Tentative Apollo Micr Newgen Amber
rate box. Systems Software Enterprise
Moreover, three BSE SME IPOs: Issue Closes 12-1-18 18-1-2018 19-1-2018
Finalisation of Basis of Allotment 17-1-18 23-1-2018 24-1-2018
Gautam Gems, Gujarat Hy-Spin and Refund / Unblocking of Fund from ASBA18-1-18 24-1-2018 25-1-2018
Medica Remedies are entering into the Credit of Eq. Shares to Demat A/c. 19-1-18 25-1-2018 29-1-2018
Listing on BSE / NSE 22-1-18 29-1-2018 30-1-2018

market in last week of January. Details will be given next week.

• NSE SME IPOs :- Solex Energy, Shree Ram Proteins, Vas Retail & Overseas are entering into
the market. More details are given in separate box.
* Last week's SME IPO subscription :- CRP Risk Management's issue with fixed price of Rs60
got 0.44 times subscription on the second day.
Last week's Listing:-
• Silly Monks :- The issue with offer price of Rs120 got listed on January 18 with upper circuit of
20% at Rs144 and closed at the same price. On Friday it got closed at little lower level of 143.50.
• SKS Textiles :- The issue with fixed price of Rs150 got listed on NSE SME at marginal dis-
Financial Weekly

SMART 21st January to 27th January 2018 38

INVESTMENT
count of 149.5 and went up to Rs151 and down to Rs131 before closing at 133.90.
* PSU Disinvestment :- The government has been able to raise only Rs54,337.60 crore fund
through PSU disinvestment against the target of Rs72500 crore.
Therefore, the government may increase the target for the next year. It has shortlisted 36 compa-
nies for strategic stake sell including Dredging Corporation, Pavan Hans, HLL, LifeCare, Central
Electronics and Scooters India.
Government approaches SEBI for 2 PSUs:- The government has field DRHP of RITES Ltd and
Mixed Metal Corporation for IPO. RITES is owned by Railway Ministry, in which 12% stake, i.e.2.4
crore shares will be sold. In Mixed Metal Corporation is owned by Defense Ministry. Both the com-
panies will get listed in the current year only.
* Insight into the upcoming public issues:-
• Barbeque Nation Hospitality :- Casual Food Chain company has got Sebi nod for Rs700
crore issue in which fresh equity of Rs200 crore and 61.70 lakh equity shares will be offered. Lead
managers are IIFL Holdings, Edelweiss, Jefferies and SBI Capital.
• Rakesh Jhunjhunwala backed John Energy to come up with IPO :- Ahmedabad-based
company will file documents with Sebi for Rs300 crore issue in the end of January. Rakesh
Jhunjhunwala owns 18.21% stake in the integrated oil field service provider company. It is be-
lieved that IPO will provide exit route to Jhunjhunwala.

Grey Market Movement

Apollo and Amber IPO premiums sky rocketed after robust response
NewGen IPO premiums touches bottom
SME IPO witnesses subject to deals before entry
Vasa Retail and Energy Solex NSE IPO witness fancy in subject to deals
Due to entry of the new issues both mainline and SMEs, the grey market is highly volatile.
Premiums and subject to rates are touching new highs and lows every day.
• Apollo Micro :- After robust response the premiums went up to Rs220/225 but now it is
around 198/200. IPO listing on Monday is likely to be very vibrant.
• NewGen Software :- The premiums touched Rs60 level at one point of time but due to seller
circuit it has come down to 12/15 so possibilities of discounts have increased.
• Amber Enterprise :- The 165 times subscription has spurted the premium to 520/525 but
now it is around 480/485.
• Galaxy Surfactants :- The issue is yet to open onJanuary 29 but grey market has swung
into action. The deals are taking place at Rs520/525. Fancy may increase and price may touch
Rs500/550.
• Subject to rates in SME IPOs : - Ashoka Metcast subject to rates were 8500, shree Ram
Proteins subject to rates were 9000 and Vasa Retail subject to rates were 18000. Solext Energy
is witnessing subject to deals at around Rs11000. Fancy may increase. However, there is no
deals or even rates are not declared in CRP Risk Management IPO.
Financial Weekly

SMART 21st January to 27th January 2018 39

INVESTMENT

Solex Energy Ltd.

IPO Opens on Jan 22 & Closes on Jan 25, 2018
Offer price fixed Rs. 52 ; Listing on NSE - SME Emerge
Considering continous growth in bottom lines,
apply for mid-Long term
Solex Energy Ltd. (SEL) is engaged in providing renewable energy solutions, specialized in
the manufacturing of Solar photovoltaic module, solar home light, solar street light, solar lan-
tern, solar power plant, solar invertors, solar water heating systems and wood fired water heater
etc. It also provides the offered appliances in numerous specifications and customization in
accordance with the demands of customers. SEL's products ranges from Solar PV Module
(3WP - 325 WP), Solar Lanterns (CFL & LED Base), Solar Home Light System (CFL & LED
Base), Solar Street Light System (CFL & LED Base), Solar Off-Grid Power Plant (Solar Roof-
top Systems), Solar Grid Connected Power Plant, Solar Water Heater Flat Plant Collector,
Solar Water Heater ETC Type, Solar Submersible Pump (AC & DC), Solar Surface Pump
(DC).
To part finance its working capital and general corpus fund needs, SEL is coming out with a
maiden IPO of 1380000 equity shares of Rs. 10 each at a fixed price of Rs. 52 per share to
mobilize Rs. 7.18 crore. Issue opens for subscription on 22.01.18 and will close on 25.01.18.
Minimum application is to be made for 2000 shares and in multiples thereon, thereafter. Issue
constitutes 27.94% of the post issue paid up capital of the company. Post allotment, shares will
be listed on NSE SME Emerge. Issue is solely lead managed by Swastika Investmart Ltd. and
Skyline Financial Services Pvt. Ltd. is the registrar to the issue. Average cost of acquisitions of
shares by the promoters is Rs. 6.25 per share. Company's entire equity is issued at par and it
has also issued bonus shares in the ratio of 3 for 5 shares in September 2017. Post issue its
current paid up equity capital of Rs. 3.56 crore will stand enhanced to Rs. 4.94 crore.
Financial Performance :- On performance front, SEL posted turnover/net profits of Rs. 6.37
cr. / Rs. 0.10 cr. (FY15), Rs. 46.62 cr. / Rs. 0.39 cr. (FY16) and Rs. 34.50 cr. / Rs. 0.92 cr. (FY17).
For last three fiscals it has posted an average EPS of Rs. 2.49 and average RoNW of 20.88%
on an equity base of Rs. 2.23 crore. For first four months of the current fiscal, it has earned net
profit of Rs. 0.31 crore on a turnover of Rs. 6.35 crore. Issue is priced at a P/BV of 4.71 based on
its NAV of Rs. 11.04 as on 31.07.17 and at a P/BV of 2.31 based on post issue NAV of Rs.
22.49. If we annualize latest earnings and attribute it to fully diluted equity post issue, then
asking price is at a P/E of around 27 plus.
BRML's Performance :- On merchant banker's front, this is the 11th mandate from its stable
in last three fiscals. Last 10 listings have opened with a rewards ranging from 1 to 20% on the
issue price in opening on the listing day.
Recommendation : Company has shown inconsistency in toplines but bottom line are in-
creasing continuously : One can apply for mid to long term : It's surprise industry & eligible for
subsidy from government.
Financial Weekly

SMART 21st January to 27th January 2018 40

INVESTMENT

Shree Ram Proteins Ltd.

IPO Opens on Jan 23 & Closes on Jan 25, 2018
Price band Rs. 27 to 31; Listing on NSE SME Emerge
Considering inconsistency in top-bottom lines & high valuations,
it is an average IPO
Shree Ram Proteins Ltd. (SRPL) is engaged in the business of de-linting and de-hulling of
cotton seeds by mechanical process, oil extraction from cotton seeds and solvent extraction
from cotton seeds oil cake and ground nuts. Cotton linter can be use in manufacturing of papers
and as raw materials for manufacture of cellulose, this can be further process for medical and
cosmetic purpose, linter can be broadly classified as an industrial raw materials. Cotton seeds
oil cake, cotton seeds de oil cake and cotton hull are used as animal feeds. Cotton seed pre-
refine oil further process by refinery to convert in to edible oil.
To part finance its working capital and general corpus fund needs, SRPL is coming out with
a maiden IPO of 6420000 equity shares of Rs. 10 each via book building route with a price
band of Rs. 27-31 to mobilize Rs. 17.33 cr. - Rs. 19.90 cr. (based on lower and upper price
bands). Issue opens for subscription on 23.01.18 and will close on 25.01.18. Minimum applica-
tion 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 lead managed by Pantomath Capital Advi-
sors Pvt. Ltd. and Link Intime India Pvt. Ltd. is the registrar to the issue. It raised entire equity till
date at par. Post issue, its current paid up capital of Rs. 15 crore will stand enhanced to Rs.
21.42 crore. Average cost of acquisitions of shares by the promoters is Rs. 9.24 and Rs. 9.81.
Financial Performance :- On performance front, SRPL has posted turnover/net profits of
Rs. 157.54 cr. / Rs. 1.29 cr. (FY14), Rs. 174.67 cr. / Rs. 1.36 cr. (FY15), Rs. 183.58 cr. / Rs. 0.51
cr. (FY16) and Rs. 157.80 cr. / Rs. 0.67 cr. (FY 17). Oil extraction segment is considered as low
margin/high volume business. For first half of current fiscal, it has reported net profit of Rs. 0.39
cr. on a turnover of Rs. 48.72 cr. For last three fiscals it has posted an average EPS of Rs. 0.71
and an average RoNW of 5.01% on an equity base of Rs. 15 crore. If we annualize latest
earnings and attribute it to fully diluted equity post issue, then asking price is at a P/E of around
75 to 86 based on lower and upper price bands. Asking price is at a P/BV of 2.04 to 2.34 based
on lower and upper price bands (on its NAV of Rs.13.21 as on 30.09.17). As per offer docu-
ments, company has no listed peers to compare with.
BRLM's Performance :- On merchant banker's front, this is the 56th mandate from its stable
in last three fiscals. Out of last 10 listings, 1 opened around par and the rest with premiums
ranging from 1% to 130% on the day of listing. 130% rewards are from the only main board IPO
of this merchant banker i.e. Astron Paper.
Recommendation : It has shown inconsistency in bottom lines & setback for FY17 top line
considering PE of 86 & P/BV of 2.34, Offer seems overprice. It's an average issue.
Financial Weekly

SMART 21st January to 27th January 2018 41

INVESTMENT

Vasa Retail IPO Opens on Jan 24th & Closes on 29th Jan, 2018
Offer price fixed at Rs. 30; Listing on NSE - SME Emerge
Past performance dismal, but considering turnaround
results & reasonable offer price apply for long term
Vasa Retail and Overseas Ltd. (VROL) (erstwhile Vasa International - a partnership firm) is
primarily deals in all kinds of (a) stationery products viz. artistic materials, hobby colors, scho-
lastic colors, scholastic stationery, office products, drawing instruments, writing instruments,
office stationery, adhesives, notebooks, office supplies and writing instruments, books, pens,
pencils, erasers, files, copier paper, bags and bottles; (b) procuring paper pulp and supplying
the same to paper mills and (c) procuring bag fabric and supplying it to the other bag manufac-
turers and also using the same for manufacturing its products (school and office bags).
VROL also has exclusive license agreements dated October 01, 2014 and June 10, 2016
with Oxford Limited to market, sell, distribute, and promote various stationary products under
the brand "University of Oxford" to around twenty six (26) countries spread across Asia, Middle
East and Africa including India.
To part finance its working capital and general corpus fund needs, VROL is coming out with
a maiden IPO of 1600000 equity shares of Rs. 10 each at a fixed price of Rs. 30 per share to
mobilize Rs. 4.80 crore. Issue opens for subscription on 24.01.18 and will close on 29.01.18.
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 constitutes 26.70% of the post
issue paid up capital of the company. Issue is solely lead managed by Hem Securities Ltd. and
Bigshare Services Pvt. Ltd. is the registrar to the issue. Average cost of acquisition of shares by
the promoters is Rs. 10. Post issue its current paid up equity capital of Rs. 4.39 crore will stand
enhanced to Rs. 5.99 crore.
On performance front, VROL has posted turnover/net profits of Rs. 17.56 cr. / Rs. 0.08 cr.
(FY14), Rs. 18.82 cr. / Rs. -(0.11) cr. (FY15), Rs. 21.86 cr. / Rs. -(0.15) cr., (FY16) and Rs. 23.85
cr. / Rs. 0.92 cr. (FY17). It posted operational losses for FY 15 and 16 despite growth in top
lines. For the last three fiscals it has posted an average EPS of Rs. 0.93 and average RoNW of
16.74 (on an equity base of Rs. 2.05 crore). Asking price is at a P/BV of 3.37 (on the basis of its
NAV of Rs. 8.90 as on 20.10.17) and at a P/BV of 1.97 (on the basis of post issue NAV of Rs.
15.24). For the period ended on 20.10.17 of the current fiscal, it has reported net profit of Rs.
0.86 cr. on a turnover of Rs. 17.92 cr. Thus for last 19 months it has been doing profitable
business. However, its NAV remained below par as at the said date. If we annualize latest
working and attribute earnings on fully diluted post issue equity then asking price is at a P/E of
around 12 against its peers Kokuyo and Linc Pen trading (as on 18.01.18) at a P/E of around
2000 and 60.
BRLM's Performance : - On merchant banker's front, this is 34th mandate in last three
fiscals (overall 44th mandate so far). Out of last 10 listings, 1 opened at 3% premium, 1 at 9%
premium and the rest at 20% premiums to offer price on the listing day.
Recommendation : It has dismal performance in the recent past. But considering turnaround
result in last 19 months & reasonable offer price, investor may apply for long term
Financial Weekly

SMART 21st January to 27th January 2018 42

INVESTMENT

CRP Risk Management Ltd.

IPO Opened on Jan 18 & Closes on Jan 22, 2018
Offer price fixed at Rs. 60; Listing on BSE SME platform
Considering poor fundamentals & fully priced offer, it's a risky IPO
CRP Risk Management Ltd. (CRP) is a risk management and risk mitigation enterprise. It
verifies critical information for large and mid-sized corporate. The company provides its ser-
vices to multiple departments like Finance, Compliance, Operations etc. The company also
has a Veterinary Division where in it deals in various types of veterinary products such as
poultry feed enzymes; poultry feed toxin binders, aquaculture feeds and other products.
To part finance its payment/repayment of certain debts, purchase of computers Hardware
and Office equipments, additional infrastructure at it offices, marketing and brand building, working
capital needs, CRP is coming out with a maiden IPO of 5160000 equity shares of Rs. 10 each
at a fixed price of Rs. 60 per share to mobilize Rs. 30.82 crore. Issue comprises fresh equity
issue of 4000000 shares and offer for sale of 1160000 shares. Issue opens for subscription on
18.01.18 and will close on 22.01.18. Minimum application is to be made for 2000 shares and in
multiples thereon, thereafter. Post allotment, shares will be listed on BSE SME. Issue consti-
tutes 29.37% of the post equity paid up capital of the company. Average cost of acquisition of
shares by the promoters is Rs. 1.17 per share. Issue is solely lead managed by Inventure Mer-
chant Banker Services Pvt. Ltd. and Skyline Financial Services Pvt. Ltd. is the registrar to the
issue. It has also issued bonus shares in the ratio of 36 for 1 in May 2011 and 1 for 1 in July
2017. Post issue, its current paid up equity capital of Rs. 13.48 crore will stand enhanced to Rs.
17.48 cr.
Financial Performance :- On performance front, CRP has reported total revenues/net prof-
its of Rs. 98.75 cr. / Rs. 5.12 cr. (FY14), Rs. 92.31 cr. / Rs. 4.21 cr. (FY15), Rs. 74.71 cr. / Rs.
1.78 cr. (FY16) and Rs. 82.11 cr. / Rs. 5.05 cr. (FY17). It has suffered a severe setback for FY16
in top and bottom lines. For first four months of the current fiscal ended on 31.07.17 it has
posted net profit of Rs.1.64 crore on total revenues of Rs. 24.59 cr. The company has reported
an average EPS of Rs. 2.94 and an average RoNW of 14.20%for last three fiscals on the basis
of equity capital of Rs. 6.50 crore. Issue is priced at a P/BV of 2.51 on the basis of its NAV as on
31.07.18 and at a P/BV of 1.86 on the basis of its post issue NAV of Rs. 32.30. If we annualize
latest earnings and attribute it on fully diluted equity post issue, then asking price is at a P/E of
around 21 plus. According to offer documents (p72) it has no listed peers to compare with.
Surprisingly, it has preferred to give current financial performance for only four months instead
of first half. Issue appears fully priced.
BRLM's Performance :- On merchant banker's front, this is the 6th mandate from its stable
and out of last five listings 1 opened at par 2 at a premium ranging from 1.5% to 2% and 2 at
20% premium to offer price on the day of listing.
Recommendation : - Considering weak fundamentals & fully priced offer it's a Risky IPO
Financial Weekly

SMART 21st January to 27th January 2018 43

INVESTMENT

Ashoka Metcast IPO Opens on 23rd & Closes on 25, 2018

Offer price fixed at Rs. 20 ; Listing on BSE SME Platform
Fundamentals are not encoring,
better to avoid this fully priced IPO
Ashoka Metcast Ltd. (AML) is a Gujarat based Group Company. Group has business inter-
ests in various sectors including Oil and Gas, Steel, Infrastructure, Electronic Equipments and
Real Estate. Group's flagship company - Gujarat Natural Resources Limited. is engaged in the
business of Oil & Gas exploration and production and currently has participating interests in 6
producing blocks in Cambay basin and is operator in four of these blocks. The company is
listed on BSE and has a market capitalization of around 125 crores. AML is currently engaged
in trading of structural steel products such as Round Bars, Flat Bars etc.
To part finance its investment plans in SGRM, repayment of loans and general corpus fund
needs, AML is coming out with a maiden IPO of 6000000 equity shares of Rs. 10 each at a fixed
price of Rs. 20 per share to mobilize Rs. 12.00 crore. Issue opens for subscription on 23.01.18
and will close on 25.01.18. Minimum application is to be made for 6000 shares and in multiples
thereon, thereafter. Post allotment, shares will be listed on BSE SME. Issue is solely lead man-
aged by Aryaman Financial Services Ltd. and Bigshare Services Pvt. Ltd. is the registrar to the
issue. Issue constitutes 56.02% of the post issue paid up capital of the company. Cost of acqui-
sition of shares by the promoters is Rs. 19.98 and Rs. 20. After raising initial equity at par, it
raised further equity at a price of Rs. 20 per share. Post issue, its current paid up equity capital
of Rs. 4.71 crore will stand enhanced to Rs. 10.71 crore.
Financial Performance :- As AML has started its operations from second quarter of current
fiscal, it has (on a consolidated basis) reported net profit of Rs. 0.05 crore on a turnover of Rs.
6.52 crore for the period ended on 15.11.2017.On standalone basis for past three fiscals it has
reported revenue/net profits of Rs. 0.01 cr. / Rs. 0.01 cr. (FY15), Rs. 0.004 cr. / Rs. 0.001 cr.
(FY16) and Rs. 0.10 cr. / Rs. 0.01 cr. (FY17). Revenue for all these years was from other in-
come. For last three fiscals, it has posted an average EPS of Rs. 6.90 and average RoNW of
478.79% on an equity base of mere Rs. 0.01 crore. In fact on consolidated basis, it has posted
an EPS of Rs. 1.08 and RoNW of 0.86% (both annualized) for the period ended 15.11.17 on an
equity base of Rs. 4.71 crore. If we annualize the latest earnings and attribute it on fully diluted
equity post issue then asking price is at a P/E of around 26 plus and thus issue is fully priced.
As per offer documents its peers are trading at a P/Es ranging from 17 to 50. (In this compare
table, AML's figures are based on an equity base of mere Rs. 0.01 crore).
BRLM's Performance : - On merchant banker's front, this is the 23rd mandate from its stable
in last three fiscals. Out of last 10 listings 2 opened at a discount, 3 around par and the rest with
a premium ranging from 1 to 20% on the day of listing. (With listing of Silly Monk as on 18.01.18)
Recommendation : Financial performance is not encouraging & offer is fully priced. Inves-
tor may avoid this IPO.
Financial Weekly

SMART 21st January to 27th January 2018 44

INVESTMENT

Smart Best Buy S. N. Zaveri

Hawkins Cooker : Healthy finacial profile

Dhanuka Agritech : Strong produc portfolio will help grow fast
Shree Cement : UCC Acquisition will benefit
ICIC Prudential Insurance : Huge opportunities to explore growth
Capital First : Merger with IDFC Bank will be win-win situation
Hawkins Cooker (Rs. 3143.90) (Code : 508486) (F. V. : 10.00) :-Hawkins :
Hawkins, a well-known household name in India makes and markets pressure cookers (84 per-
cent of its revenue) and other cookware. A strong brand equity, good track record of promoters and
management, and healthy financial profile to a large extents offsets the slow growth and conserva-
tive approach of the promoters. The valuation at 28 times FY19 estimated earnings looks reason-
able, in the context of favourable macro trends supporting consumption, superior return ratios and
a generous dividend policy.Currently, the domestic market contributes around 94 percent of the
overall sales and rest comes from overseas markets. The pressure cookers are marketed under
the flagship brand Hawkins and also under Futura and Miss Mary; cookware is sold under the
Futura brand name. The company has approximately 75 models of pressure cookers in eleven
different varieties. The government’s drive to provide Liquefied Petroleum Gas (LPG) connections
to rural households and electrification of rural areas is expected to boost penetration of pressure
cookers and cookware in the rural areas. GST will be another boost for the company. Buy.
Dhanuka Agritech (Rs. 7863.00) (Code : 507717) (F. V. : 2.00) :- Dhanuka
Agritech Ltd. has corrected by 22% from 52-week high of Rs.930 despite reporting good set of
numbers in the recent quarters owing to new product launches which boosted volume growth.
Dhanuka is India’s second largest agro-chemical formulations company in domestic branded sales
focusing on speciality molecules from global innovators. It has grown at revenue CAGR of around
11% over FY11-17, following an asset light model of producing formulations only and not technicals,
which it sources from global partners. It has 11 tie-ups with global MNCs, which ensure new spe-
cialty products in Indian markets. Dhanuka has regularly launches new products, mainly in the
fast-growing Herbicide/ Fungicide segments and over the years, it has a strong basket of 100
products, which offer better margins, and fetching the company exclusive licenses from global
players to market them in India. As the budget is expected to be focused on rural sector, Dhanuka
will benefit from that.Invest.
Shree Cement (Rs. 18365.00) (Code : 500387) (F. V. : 10.00) :- Shree
Cement surprised investors by posting better than expected operating performance for the Decem-
ber 2017 quarter last week. Shree Cement's net profit rose 41.6% to Rs 333.33 crore on 23.1%
growth in net sales to Rs 2296.23 crore in Q3 December 2017 over Q3 December 2016.Shree
Cement is focused on its core business of cement and power. Currently its manufacturing opera-
tions are spread over North and Eastern India.The company, which has so far focused on its ex-
pansions plans in the domestic arena to fuel growth, is now acquiring about 93 per cent stake in
UAE-based Union Cement Company (UCC) at an enterprise value of $305 million.Long legacy
and reasonably good share of the UAE's cement industry add to stable earnings' prospects for
Shree Cement. Also, analysts point out that UCC has operating profit margin in the range of 22-23
per cent in the past four years, which is quite encouraging in a region of the size of the UAE. UCC's
plants are close to Ras Al-Khaimah's port through which it serves cement demand in the Gulf, the
Middle East and East Africa regions. Cement demand in these regions is fairly stable. Buy.
Financial Weekly

SMART 21st January to 27th January 2018 45

INVESTMENT
ICICI Prudential Life Insurance (Rs. 429.00) (Code : 540133) (F. V. :
10.00) :- ICICI Prudential Life Insurance Company stock rose last week as brokerage house
Geojit initiated buy call with price target of Rs 450. According to the broking firm, the outlook on
Indian life insurance sector remains bright and Indian life insurance industry is at the cusp of enor-
mous growth.ICICI Life is well-positioned to capture the strong growth and it is a best play on life
insurance sector.The firm expect ICICI Prudential to deliver 22 percent and 15 percent in return on
equity and return on enterprise value in the next financial year.It also expect the new business
premium to grow at a compounded rate of 20 percent over the financial years through March
2019.The broking house remains outperformer in private life insurance despite challenging busi-
ness environment. Meanwhile, the diversified multi-channel distribution network gives a competi-
tive edge. Also the under-penetrated market provides significant growth opportunity.Invest.
Capital First (Rs. 765.00) (Code : 532938) (F. V. : 10.00) :- The Boards of
IDFC Bank (IDFCB) and Capital First (CAFL) have approved a merger of the two entities at a
13.9:1 swap ratio. This merger would have benefits for shareholders of both companies, though
near term regulatory & integration challenges persist. The share swap ratio makes it attractive
(12.5% premium to CMP) for CAFL shareholders. As per the merger deal, valued at about Rs
9,403 crore, the swap ratio stands at 139:10, which means 13.9 shares of IDFC Bank for every 1
share of Capital First. This deal has got a thumps up despite an approximate 12.5 percent premium
over Capital First’s current valuations. Moreover, Capital First, being an NBFC is dependent on
wholesale borrowings, with more than 50 percent bank borrowings, will get access to low cost
funds but also must ramp up the deposit base.Motilal Oswal and Edelweiss have upgraded the
target price of Capital First by 4 per cent and 11.4 per cent, respectively, not only from a valuation
perspective but also because of benefits like reduction in costs and access to capital for growth.
Buy in phased manner.

(SEBI Registered Research Analyst)

* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month • All stocks rates / indices on
19th January 2018 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 Weekly
Every Sunday Every Wednesday

English & Gujarati Edition Gujarati Edition

Financial Weekly

SMART 21st January to 27th January 2018 46

INVESTMENT

Dalal Street Whispers - Dilip K. Shah

JB Chemical (Rs. 324.00) (Code: 506943) :- The company's unit in Panoli has
received the approval for European GMP.
Ashok Leyland (Rs. 121.00) (Code: 500477) :- There is current in the stock after the
company's tie-up with Israel's Phinergy for electric vehicles.
L&T Finance (Rs. 172.00) (Code: 533519) :- This L&T Group company plans to
raise Rs. 40 billion through a QIP issue. Some movement can be seen in the stock.
Emami Paper (Rs. 211.00) (Code: 533208) :- L&T Mutual Fund has acquired 32.84
lakh shares of this newsprint and writing paper producer for Rs. 225 each.
Alembic (Rs. 63.00) (Code: 506235) :- The board meeting of this Gujarat-based com-
pany will take place on January 23 to decide on share buyback proposal. Both trading volumes
and the share price are going up.
Jain Irrigation (Rs. 135.00) (Code: 500219) :- The GST rate on irrigation products
has been reduced from 18% to 12% by the GST Council on January 18. The stock is making new
highs in anticipation of agriculture sector getting due importance in the Union Budget.
Swan Energy (Rs. 229.00) (Code: 503310) :- The board of this textiles, real estate
and energy sector company has received nod to raise Rs. 1,000 crores. This has pushed the stock
to record highs.
Omax Auto (Rs. 119.00) (Code: 520021) :- The company's performance has been
improving in every quarter. Reports suggest that the company is likely to report turnaround num-
bers even in the third quarter.
Prakash Industries (Rs. 241.00) (Code: 506022) :- Big Bull Rakesh Jhunjhunwala
holds big stake in this company. The stock is likely to outperform going ahead as the company has
reported better than expected numbers for Q3.
NCL Industries (Rs. 282.00) (Code: 502168) :- Ventura Securities has said that the
stock of this cement sector company could rise by 100% in a year. It expects the company to achieve
turnaround position in the coming days.
HCG (Rs. 299.00) (Code: 539787) :- The RBI has hiked FII holding limit in the com-
pany from 24% to 100%. The share has gained on the back of this development.
Star Cement (Rs. 132.00) (Code: 540575) :- According to reports, SBI Mutual Fund
has acquired 3% stake in this company. This has added strength to the stock.

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 21st January to 27th January 2018 47

INVESTMENT

High Risk High Return Shares - Dilip K. Shah

Torrent Pharma (Rs. 1,419.00) (Code: 500420) :- This Gujarat-based company

has acquired US-based generic pharma and OTC company Bio-Pharm. The deal has led to move-
ment in the stock.
Suven Life (Rs. 198.00)(Code: 530239) :- The company has received a patent each
from China and Sri Lanka, which will be in force till 2033 and 2032 respectively. The patents are
related to New Chemical Entities (NCEs) which are used for treatment of neuro-degenerative dis-
eases.
Savita Oil (Rs. 1,560.00) (Code: 524667) :- The company's board is meeting on
January 23 to decide on share buyback proposal. A positive impact of the same can be seen on the
stock.
HUL (Rs. 1,362.00) (Code: 500696) :- This company has reported better than ex-
pected numbers for the third quarter. Net profit rose by 28%, while income was up by 14%. In view
of rising sales volume, CLSA and Macquarie have given 'outperformer' and 'Best Picks' rating
respectively for the stock.
Som Distilleries (Rs. 264.00) (Code: 507514) :- This breweries company has
reported 50% rise in net sales and a whopping 79% jump in net profit for the second quarter. Strong
demand for liquor products during Christmas and New Year will reflect in its December quarter
results. The company's Karnataka unit has also received clearance from the pollution control board.
Bharat Forge (Rs. 735.00) (Code: 500493) :- The company is benefiting from grow-
ing truck sales in North America. The stock is also in focus as it has set up a new R&D facility in
MIRA Technology Park in UK.
Symphony (Rs. 1,998.00) (Code: 517385) :- This Gujarat-based company has
launched some new models of air coolers recently.
Syndicate Bank (Rs. 78.00) (Code: 532276) :- The central government is believed
to be mulling enhancing FDI limit in private banks to 100%. Such a move will have a positive
impact on the stock.
Ujjivan (Rs. 408.00) (Code: 539874) :- Some big movement can be seen in the stock
as Sundaram Mutual Fund has acquired 5% stake in the company.
Century Textiles (Rs. 1,409.00) (Code: 500040) :- Market player Radhakrishna
Damani has recently bought 1% stake in this company.
Wonderla Holidays (Rs. 415.00) (Code: 538268) :- The GST Council has lowered
the tax slab on amusement and water parks from 18% to 12%.
Insecticides (Rs. 835.00) (Code: 532851) :- The GST Council reduced the tax rate
on bio-pesticide products from 18% to 12%. The agriculture sector is also likely to see major an-
nouncements in the upcoming budget.
Biocon (Rs. 569.00) (Code: 532523) :- This biotech company has formed a global
partnership with Sandoz for developing and commercializing multiple biosimilars for Immunology
and Oncology. This has led to current in the stock.
Tech Mahindra (Rs. 552.00) (Code: 532755) :- This IT sector company has ac-
quired 17.5% stake on a fully diluted basis in ALTIOSTAR. The market is also expecting the com-
pany to post strong Decem
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 21st January to 27th January 2018 48

INVESTMENT
Senior Astrologer
Dharmesh Joshi
Mob. : 9909941816
E-mail :
stockmarket@ganeshaspeaks.com

Sensex Predictions : Dt. 22nd January to 26th January

22-01-2018 Monday :- " You should proceed as mentioned above. " Opening to 10.30 Nifty will remain
around the surface. " From 10.30 to 11.40 Nifty will go up. " 11.40 till the closing bell, Nifty will give solid
movement on both sides. " Do intraday, you will get a good profit.
23-01-2018 Tuesday :- " The Moon is in Revati nakshatra today, hence movement and volatility in
Bank Nifty is indicated. " Do delivery based trading today. " Around opening buy, and around 11.11 take an
exit. " 11.11 to 12.51 avoid trading. " From 12.51 onwards Nifty will go down step by step. Hence, around
14.14 exit.
24-01-2018 Wednesday :- " The Moon and Jupiter are opposite to each other, which is overall good for
your personalised horoscope. " 9.15 to 10.15 will just be a time-pass period. Thus don't expect much. "
From 10.15 to 13.00 the overall view is positive. But there will be ups and down, hence no fixed pattern is
indicated. " 13.00 to 14.15 Nifty will go down. " Between 14.15 to 14.55 Nifty will go up. " 14.55 to 15.30
Nifty will remain average, and you will be able to buy-sell on both the sides.
25-01-2018 Thursday :- " Avoid long position as 3 consecutive days will be a trading holiday, and the
planets on Monday will be different. " During the first hour, pattern of Asian market is indicated, which will
be mixed to slightly negative. " During the next 1 hour Nifty will go down, and then try to go up equally. "
Between 11.40 to 14.14 Nifty will be unpredictable-unreliable and play like an arbitrageur with solid move-
ment. Hence, just trade quickly with a margin. " 14.14 to 15.30 An up-down-up pattern is indicated, Thus,
accordingly make your position.
26-01-2018 Friday :- " Since today is Republic Day, there will be a holiday in the market.

Buy or Sell, Confused ?

Let the EXPERTS Help You
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Financial Weekly

SMART 21st January to 27th January 2018 49

INVESTMENT

News Track

Ice Make Refrigeration Limited receives

Care BBB + (Care Triple B Plus) Rating
Ice Make Refrigeration Limited (Ice Make), one of the leading manufacturer & supplier of cooling
solutions equipment, has received a revision in rating from BBB Minus (Triple B Minus) to BBB
Plus (Triple B Plus) from CARE Ratings. The revised rating indicates stable and positive business
outlook of the company.
Care Ratings in its report said “The revision in ratings for Ice Make Refrigeration Limited factors
in the healthy growth in its total operating income (TOI) during FY17, improvement in its operating
profitability and debt coverage indicators. The revision also factors in the sizeable fund raised by
Ice Make through its IPO (concluded in November 2017), the proceeds of which are expected to be
utilized by Ice Make for its capex and working capital requirements, without resorting to major
additional debt in the medium term.
Mr Chandrakant P. Patel, CMD, Ice Make Refrigeration Limited said “Ice Make has grown to
become one of the leading player in its industry space, preferred and trusted manufacturer and
provider of Cooling Solutions to a diversified set of customers in the country. We are happy to
receive Triple B Plus rating post the successful listing of Ice Make on NSE Emerge.
Financial Weekly

SMART 21st January to 27th January 2018 50

INVESTMENT

News Track

"Living the Promises"

brand campaign by Canara HSBC OBC
Private life insurance company Canara HSBC Oriental Bank of Commerce Life Insurance has
scaled up their entire technological infrastructure and added significant digital outreach capabili-
ties to meet customers' needs in real time and ensure convenience at all stages. The Company
aims to become a complete digital organization in the next three years. The customer's end to end
needs from product offering to the service should be fulfilled at the distribution point & the bank
branch has been the focus of the Company. The Company believes in leveraging technology for
an enhanced customer experience and has enabled various sales & service solutions which help
in increasing operational efficiency at every stage of the life cycle. The Company runs a paperless
process from customer contact to policy issuance and the service cycle.

COCHIN SHIPYARD SIGNS MOU

WITH MUMBAI PORT TRUST
Cochin Shipyard Limited (CSL) signed an MOU today with Mumbai Port Trust (MbPT) for man-
agement and operation of the Shiprepair Facilities at Mumbai Port trust. As per the terms of the
MOU, MbPT and CSL are to associate with each other for utilizing the Indira Dock facility at Mumbai
Port to set up a Professional Ship Repair Eco system, that would be beneficial for the commercial
as well as Defence Ship Repair Industry in India. The MOU also provides for expansion of the Ship
repair capacity within the Indira Dock that may include setting up of a Floating Drydock (FDD) and
upgrading existing facility at HDD thereby enhancing the existing Ship repair Capacity in Mumbai
Area.
Financial Weekly

SMART 21st January to 27th January 2018 51

INVESTMENT

REVIEW OF “SMART PLUS NEWS LETTER”

Amazing 32% RETURN SMART GAIN
FOR SMART INVESTORS
Company Reccom. Weekly Ch. Company Reccom. Weekly Ch.
15-1-2018 High (%) 15-1-2018 High (%)
Cords Cable 127 144 13.39 Shemaroo 466 575 23.39
Sharda Motors 2542 2744 7.95 NCL Ind. 269 310 15.24
Capital First 835 902 8.02 Aban Offshore 262 273 4.2
CEAT 1975 2000 1.27 Jindal Saw 172 179 4.07
G. E. Power 913 943 3.29 TCS 2770 2979 7.55
Kiri Ind. 637 674 5.81 GSFC 157 166 5.73
Indian Nippon 1181 1240 5 Bharti Infra 374 378 1.07
Just Dial 609 648 6.4 L&T 1329 1384 4.14
HCL Techno 925 965 4.32 ICICI Bank 313 355 13.42
Akzo Nobel 1931 1964 1.71 IDFC Bank 67 69 2.99
SRF 2008 2045 1.84 Praj Ind. 125 128 2.4
Satin Credit 514 525 2.14 Patel Engg. 90 92 2.22
Quick Heal 377 389 3.18 Medicaps 32 38 18.75
Cochin Shipyard 556 569 2.34 Kamat Hotel 114 151 32.46
ARVIND 465 472 1.51 Bhushan Steel 71 74 4.23
Goodyear 1227 1258 2.53 Acknit Ind. 160 163 1.88
Wabco India 7596 7860 3.48 Som Distriliries 255 284 11.37
Infosys 1078 1164 7.98 Moon Aluminium 177 183 3.39
Ultratech Cement 4391 4594 4.62 The Byke Hospital 185 189 2.16
Munjal Showa 298 311 4.36 J K Paper 159 162 1.89
Aptech 373 386 3.49 Ganesha Eco 446 480 7.62
Cosmo Film 377 385 2.12 Astra Micro 117 129 10.26
Fairchem 456 484 6.14 Sak Soft 249 260 4.42

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Financial Weekly

SMART 21st January to 27th January 2018 53

INVESTMENT

Editor : Dilip K. Shah

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featured herein
Financial Weekly

SMART 21st January to 27th January 2018 54

INVESTMENT

D(en)O(f)W(ealth)
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Financial Weekly

SMART 21st January to 27th January 2018 55

INVESTMENT

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 (%)
29th April-15 J M FIN 47.5 60-90 191.6 303% Rate (Rs.) Rate (%)
29th April-16 WALCHAND PEOPLE 106 145 212 100%
5th May-15 VIPPY SPINPRO 20 25-31 61.4 207%
3rd May-16 IOL CHEM 103 150- 250 156 51%
8th May-15 CONART ENG 22 30-32 64.4 193%
5th May-16 INDIG O 1075 1200 1347 25%
15th May-15 MANALI PETRO 16.5 21-30 49.4 199%
6th May-16 PPAP AUTO 144 175- 200 454 215%
22nd May-15 SUZL ON 25 32-45 28 12%
13th May-16 HP COTTON 53 75 58 9%
26th May-15 GOLDIAM INT 28 38 99.7 256%
16th May-16 GANDHI SPE TUBE 235 300 375 60%
28th May-15 PONDY OXIDE 75 82 779 939% 16th May-16 BAJAJ ELE 233 265 428.5 84%
9th June-15 INDUS BANK 810 880 1804 123% 19th May-16 ITD CEMENT 127 175 194 53%
18th June-15 KEI IND 63 90 372 490% 19th May-16 ASM TECHNO 195 220 203 4%
18th June-15 VRL LOGI 305 335- 350 479 57% 27th May-16 KUSHAL TRADE 145 175- 225 611.1 321%
18th June-15 KALPATARU POWER 241 270 405 68% 3rd June-16 J M FIN 47 56-59-65 191.6 308%
18th June-15 SUPRAJIT ENG 128 150 338 164% 9th June-16 BAJAJ ELE 232 300 428.5 85%
26th June-15 IBULLS HOUSING 620 675- 900 1374 122% 20th June-16 GAEL 58 75-85 185 219%
2nd July-15 MRPL 76.5 85-105 143.55 88% 24th June-16 IOL CHEM 136 175- 275 156 15%
13th July-15 FSL 33.25 40-55 54 62% 1st July 16 IL&FS TRANS 78.5 95-105 124.8 59%
14th July-15 JAIN IRRIGATION 75 95-125 120 60% 7th Junly 16 NE TWORK18 45.5 64-71 59.3 30%
28th July-15 BAJAJ FINANCE 222 275 1985.9 795% 15th July 16 SARDA ENERGY 141 180- 200 518.4 268%
31st July-15 JINDAL SAW 78 95-125 128.3 64% 22nd July 16 AARTI IND 553 620- 625 1040 88%
3rd Aug-15 HFCL 15 20-35 35.95 140% 28th July 16 MAGMA FIN 106 135- 140 189.85 79%
5th Aug-15 SUBE X 16.5 18.5- 22 18.35 11% 3rd Aug 16 GARWARE WALL 453 535- 540 994 119%

17th Aug-15 J M FIN 52.5 60 191.6 265% 5th Aug 16 ION EXCHANGE 327 445- 450 638 95%
12th Aug 16 IOL CHEM 137 175- 275 156 14%
11th Sep-15 NAVKAR CORP 166 185- 190 247 49%
18th Aug 16 SAMBANDAM SPI 113 130- 140 163.5 45%
11th Sep-15 ECLERX SERVICES 1425 1600 1784 25%
22nd Aug 16 SUBE X 12.65 16.5-18.4 13.5 7%
11th Sep-15 KSCL 457 530- 550 708 55%
31st Aug 16 IDFC 58.25 70 71.3 22%
24th Sep-15 GHCL 142 165- 200 299 111%
8th Sep 16 IRB INFRA 242 270- 285 272.65 13%
6th Oct-15 CHENNAI PETRO 238 275- 350 480.5 102%
8th Sep 16 TALBROS ENG 238 255- 260 824 246%
7th Oct-15 HFCL 16.7 20-25 35.95 115%
16th Sep 16 NOCIL 68 85 193.5 185%
12th Oct-15 ARSS INFRA 36.5 50-54 114 212%
21st Sep 16 CONART ENG 40 48 64.9 62%
14th Oct-15 ASHOK LEYLAND 94.25 105- 110 133.9 42% 23rd Sep 16 KEI IND 120.5 140- 170 372 209%
4th Nov-15 LLOYD ELE 274 315- 350 340 24% 29th Sep 16 DYNAMIC IND 60 70-75 109.85 83%
16th Nov-15 TANLA SOL 36.5 50 66.45 82% 29th Sep 16 GSFC 77 101 162.7 111%
21st Nov-15 PRIMA PLAST 83 100- 125 315 280% 5th Oct 16 MAGMA FIN 116 140 189.85 64%
26th Nov-15 PRATIBHA IND 45 55 51 13% 19th Oct 16 JINDAL POLY 429 460- 490 477 11%
16th Dec-15 COMPETE NT 140 185- 190 260 86% 25th Oct 16 A2Z INFRA 40.75 50 52.65 29%
21st Dec-15 SUN PHARMA 750 1000 899 20% 30th Oct 16 JENBRUKT PHARMA 482 700 572.5 19%
8th Jan-16 ASM TECHNO 195 230- 300 220 13% 30th Oct 16 ADVANCED ENZ 2125 2700 2375.5 12%
15th Jan-16 TYCHE IND 50 72 STOP LOSS 4th Nov 16 MAFATLAL IND 443 425- 500 STOP LOSS
27th Jan-16 ASHOKA BUILD 192 230 STOP LOSS 4th Nov 16 ABC BEARINGS 174 210- 250 450 159%
5th Feb-16 SWISS GLASS 118 150 227 92% 2nd Dec 16 MRPL 100 119-138- 149 146.7 47%
19th Feb-16 ELEGANT MARBLE 95 125 195.95 106% 9th Dec 16 SONATA SOFT 164 195 224 37%
3rd March-16 SHIVALIK BI 11 27-35 95 764% 16th Dec 16 INDIA GLYCOL 137 180- 200 412 201%
8th March-16 SUDARSHAN CHE 86 115 459 434% 30th Dec 16 MADHAV MARBLE 59 64-66 79.5 35%

21st March-16 J K TYRE 83 105- 135 186.3 124% 30th Dec 16 ORIENT BEVERAGES 160 170- 172 186.5 17%
4th Jan 17 RAIN IND 56.5 70 319 465%
21st March-16 NHPC 21.85 27-32 34.5 58%
5th Jan 17 MAGNGALORE CHEM 48.2 55-60 84.4 75%
8th April-16 SUBE X 10.1 13.75-16.5 14.25 41%
6th Jan 17 INDO RAMA 34.25 36-37 42.6 24%
13th April-16 CAREER POINT 118 135- 175 166.7 41%
11th Jan 17 TRIDE NT 62.5 75-100 109.5 75%
13th April-16 KLRF 58 75-110 122 110%
13th Jan 17 PITTI LAMINATIONS 60 63-65 75 25%
26th April-16 BENGAL TEA 50 60-65 63.5 27%
20th Jan 17 SUPER CROP SAFE 136 225 180 32%
Financial Weekly

SMART 21st January to 27th January 2018 56

INVESTMENT

(2)
Date Stock Reco. Target Achi eved Return Date Stock Reco. Target Achieved Return
Rate (Rs.) Rate (%) Rate (Rs.) Rate (%)

27th Jan 17 IHTL 192 202 202 5% 30th June-17 PRIME URBAN 31.5 34-35 38.35 22%

2nd Feb 17 SUBE X 10.6 13-14 12.35 17% 4th July-17 PRIYA LTD 102 112- 140 117.5 15%

6th Feb 17 BGR ENERGY 138.5 175 183.4 32% 7th July-17 SUNFLAG IRON 41 51-55 87.8 114%

6th Feb 17 LAURUS LAB 538 625 640 19% 17th July-17 ORIENT BEVERAGES 175 181- 185 186.4 7%

14th Feb 17 AT LANTA 83 105 120.45 45% 18th July-17 ORIENT BEVERAGES 179 191- 195 STOP LOSS

16th Feb 17 PITTI LAMINATIONS 62 72-75 75 21% 24th July-17 TWL 121.5 155- 160 STOP LOSS

16th Feb 17 EON ELECTRIC 63.5 85-90 137.5 117% 28th July-17 REMSONS IND 82 110- 115 89.6 9%

28th Feb 17 KWAL IT Y 157 175- 185 167.95 7% 3rd August-17 NTC Ind 61 75-80 72.5 19%

1st March-17 SPARC 339 370- 385 446 32% 11th August-17 AGRITECH INDIA 59 - 149 153%

2nd March-17 KOPRAN 71 83-95 102.45 44% 11th August-17 E COPL AST 112 - STOP LOSS

8th March-17 AJMERA REALTY 197 250- 260 297.8 51% 11th August-17 BIMETAL BEARING 460 - 561.3 22%

10th March-17 CORDS CABLE 81.5 84-86 145 78% 18th August-17 PUDUMJEE IND 15 - STOP LOSS

15th March-17 ADANI ENTER 99.5 115- 120 160.7 62% 22nd Aug. SPARC 410 550 446 9%

17th March-17 GUJ THEMIS 48 53-55 55.5 16% 24th August-17 PATSPIN 27.5 31-33 30.3 10%

17th March-17 SHILCHAR TECHNO 380 450- 525 524.9 38% 29th August-17 BNR UDYOG 59.5 65 STOP LOSS

20th March-17 ELECTROSTEEL CAST 29.5 37-40 40.65 38% 30th August-17 NMDC 126.5 150 138.5 9%

24th March-17 ONWARD TECH 74.5 78-80 170 128% 30th August-17 J M FIN 128 150 191.6 50%

24th March-17 AVT NATURAL 37 39.5- 41 50.75 37% 1st Sep-17 VASWANI IND 15.5 17.5- 18 24.6 59%

29th March-17 SANKHYA INFO 58.5 70-75 69.7 19% 7th Sep-17 INDBANK MERCHANT 21.5 25-27 26.9 25%

31st March-17 MOLD-T EK 53.5 55-56 59.9 12% 14th Sep-17 COMPUCOM SOFT 17 20-21 19.4 14%

5th April-17 MTNL 25.75 31-35 27.1 5% 20th Sep-17 ORIENT CEM 162 190 182 12%

6th April-17 SARDA ENERGY 258 300 518.4 101% 22nd Sep-17 AKAR TOOLS 108 113- 115 117 8%

13th April-17 WEIZMANN 524 560- 570 1125 115% 27th Sep-17 PUDUMJEE PULP 26.85 29.5 28.5 6%

20th April-17 COMPUCOM SOFT 17.5 19.5-20.5 SL 28th Sep-17 SANGHI IND 98 125 137.2 40%

21st April-17 ALEMBIC 46.7 55-61 51.7 11% 3rd Oct-17 DHARNI SUGAR 32 35.5 39.75 24%

28th April-17 REL INFRA 595 700 SL 6th Oct-17 PDMJE PAPER 31 38-40 34.1 10%

28th April-17 DAMODAR IND 95 100 144 52% 13th Oct-17 BHAGYNAGAR 33 38-40 39.4 19%

2nd May-17 VIPPY SPINPRO 50 55-56 SL 19th Oct-17 W H BRADY 235 325- 350 288.9 23%

2nd May-17 DEEP IND 326 400 SL 23rd Oct-17 W H BRADY 255 325- 350 288.9 13%

15th May-17 TALBROS AUTO 175 210 224.7 28% 24th Oct-17 GSFC 147 170- 175 162.7 11%

2nd June-17 TATA GLOBAL 156 175- 180 231.25 48% 24th Oct-17 SPIC 42.5 50-53 48.5 14%

2nd June-17 PITTI LAMINATIONS 58.5 63-65 75 28% 25th Oct-17 DHARNI SUGAR 36 41-43 39.75 10%

15th June-17 ACE 69.5 81-87 95.3 37% 31st Oct-17 SURANA T & P 7.5 9- 10.5 9.3 24%

22nd June-17 MANAPPURAM 97.5 107- 130 112.55 15% 1st Nov-17 MANGALORE CHEM 78 90-95 81.6 5%
Financial Weekly

SMART 21st January to 27th January 2018 57

INVESTMENT

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