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76
GAMC No. :1703/2015-17. Issued by SSP Ahd. Valid up to 31-12-2017

VOL : 10 • Issue No: 33 RNI No : GUJENG / 2008 / 24320 1th Oct. 2017 to 7th Oct. 2017
FII Activity (Rs. Cr.)

Date Buy Value Sell Value Net Value
25-09-17 5502.66 6752.11 -1249.45
26-09-17 3556.76 5472.3 -1915.54
27-09-17 5383.36 6239.64 -856.28
28-09-17 7171.4 12499.86 -5328.46
29-09-17 4905.51 6452.37 -1546.86
Total 26519.69 37416.28 -10896.6
DII Activity (Rs. Cr.)
25-09-17 4502.22 3492.24 1009.98
26-09-17 4433.83 2896.73 1537.1
27-09-17 4231.83 2373.54 1858.29
28-09-17 9521.63 4325.03 5196.6
29-09-17 4959.5 2894.87 2064.63
Total 27649.01 15982.41 11666.6
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Financial Weekly
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Nifty & Sensex Movement during the last week

NSE - Nifty Open High Low Close Diff
25-Sep-17 9960.1 9960.5 9816.05 9872.6 -91.8
26-Sep-17 9875.25 9891.35 9813 9871.5 -1.1
27-Sep-17 9920.6 9921.05 9714.4 9735.75 -135.75
28-Sep-17 9736.4 9789.2 9687.55 9768.95 33.2
29-Sep-17 9814.3 9854 9775.35 9788.6 19.65
Net Weekly Loss -175.8
BSE Open High Low Close Diff
25/09/17 31,986.40 32,016.52 31,474.56 31,626.63 -295.81
26/09/17 31,685.81 31,693.59 31,455.65 31,599.76 -26.87
27/09/17 31,785.24 31,797.46 31,100.80 31,159.81 -439.95
28/09/17 31,216.36 31,340.91 31,081.83 31,282.48 122.67
29/09/17 31,367.25 31,523.87 31,243.71 31,283.72 1.24
Net Weekly Loss -638.72
Financial Weekly

INVESTMENT
SMART
BUY OF THE WEEK
Dark Horse
On 14th August we had recommended AGRI TECH INDIA @ Rs.60.75, it zoomed to Rs.134.35
levels on 8th September and recorded super-duper 121% return in just 25 days.
On 4th September we had recommended VASWANI INDUSTRIES as a dark horse @ Rs.15.40,
last week it zoomed to Rs.24.6 and recorded almost 60% return in just 15 days.
On 31st July we had recommended AMINES & PLASTI @ Rs.49, it zoomed to Rs.78 levels and
recorded almost 59% appreciation after our recommendation.
On 17th July we had recommended KUANTUM PAPERS @ Rs.492, it zoomed to Rs.696.90
levels and recorded almost 42% appreciation after our recommendation.
On 18th September we had recommended SAURASHTRA CEMENT at Rs.76.5, it zoomed to
Rs.88.90 levels & recorded 16% return in short time.
ACKNIT INDUSTRIES LTD

(530043) (116) (Face Value Rs.10)
Incorporated in 1990, Acknit Industries Limited formerly Known as Acknit Knitting Limited,
is an ISO 9001 - 2008 Public Limited Company, In a span of twenty six years of operations it
is now one of the largest manufacturers and exporters of industrial gloves and garments.
Acknit is having three different manufacturing divisions near Kolkata, India via.
1. Seamless Gloves Division -
Situated in Special Economic Zone (SEZ) manufacturing Seamless Gloves made of 100%
Cotton, Poly / Cotton, Nylon, Kevlar, HPPE and other special cut resistant blended yarns
etc., for cut lever 1 to 5., ACKNIT is having 3 coating facilities which produces PU Coating,
Nitrile Coating &Layex Coated Gloves.
2. Industrial Leather Products Division -
Acknit owns a full integrated setup backed up with its own tanning facilities for manufactur-
ing Leather Gloves and special type of Leather Gloves of Kevlar / HPPE / Glass Yarns with
leather stitch on the palm and at the back of the finger tips. It is one of the fastest growing and
leading exporters from India in a short span of time.
Financial Weekly

INVESTMENT
3. Industrial Garments Division -

Manufacturing various types of Industrial Garments made of Cotton, Poly / Cotton, high
visibility fabric with 3m reflective tape, heat resistant, Nomex and T-Shirt of all types. All the
units are of international standards with sophisticated machinery and state of the art facilities
having adequate production capacity to meet the growing market demands. The products are
manufactured as per CE norms and well approved by the overseas customers. Over 90%
productions are exported to European countries regularly and it is a recognized export house
by the government of India.
It has an equity base of just Rs.2.76crore that is supported by reserves of around
Rs.29.94crore. It has a share book value of Rs.128.83 & price to book value ratio is below 1
which is impressive. The Promoters hold 46.39% while the investing public holds 53.61%
stake in the company.
During Q1FY18, it posted 29.72% higher PAT at Rs.0.48 crore v/s Rs.0.37 crore in Q1FY17
on 13.63% higher sales of Rs.39.92 crore fetching an EPS of Rs.1.88. Currently, the stock
trades at a P/E of 9x. It is regular dividend paying company and it has paid 15% dividend for
FY17.Company is going to allot 5,20,000 equity shares on preferential basis at Rs.120 to the
promoters and non-promoter group.
Based on the above financial and performance parameters, the AIL share looks quite
attractive at the current level. Investors can buy this stock with a stop loss of Rs.100. On the
upper side, it could zoom to Rs.145-150 levels in the short to medium term & Rs.200 levels in
long term.
Financial Weekly

INVESTMENT
DHARANI SUGAR & CHEMICALS LTD

(507442 & NSE) (31.10)
(Face Value Rs.10)
Incorporated in 1987, Chennai based Dharani Sugars & Chemicals Ltd.manufactures and sells
white sugar in India. It also produces molasses and other byproducts. In addition, the company is
involved in the generation of electricity; and production of industrial alcohol, including ethanol.DSCL
has three integrated Sugar plants with a total crushing capacity of 10000 TCD, Co-generation
Power plant of 37 MWs and Multi product distillery of 160 KLPD.
It has an equity base of Rs.33.20crore that is supported by reserves of around Rs.141.18crore.
It has a share book value of Rs.52.53& price to book value ratio is below 0.6 which is impressive.
The Promoters hold 61.55% while the investing public holds 38.45% stake in the company. Com-
pany has reduced debt by almost Rs.50crore in FY17.
Company had posted losses in last 4 years but since last 2 quarters it has reported turn around
numbers which is clearly indicating that better days are coming again. During Q1FY18, it posted
PAT at Rs.1.08crore v/s loss Rs.9.16crore in Q1FY17 on 75% higher sales of Rs.147.17crore
fetching an EPS of Rs.0.33.
On technically front, it has formed cup & handle pattern with huge volume which is bullish in its
nature. Investors can buy this stock with a stop loss of Rs.27.5. On the upper side, it could zoom to
Rs.35.50 levels in the short term. If stock close above Rs.35.5 level, will create huge fireworks in
this counter.
Financial Weekly

INVESTMENT
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Financial Weekly

INVESTMENT
Tirupati Forge
Forging Ahead on Strong Foundations
Tirupati Forge is entering into the capital market through Corporate Feature
SME IPO. It will issue 18,00,000 equity share of Rs. 10 each
at a fixed price of Rs. 29 per share. It will raise Rs. 5.22
crore. Issue will close on 4th October
Objects of the Issue

Tirupati Forge Ltd manufactures and supplies quality assured 1. Working Capital require-
ments
Forged Flanges, Auto Parts, Automotive Components and Fitting 2. Repayment of Loan
3. General Corporate Purpose
Components.It is engaged in manufacturing of closed dye forged products like auto compo-
nent, bearings, gears, etc and forged flanges of mild steel, carbon steel, stainless steel etc.
based out at Hadamtala Industrial Estate, Rajkot, Gujarat. These products are used in auto-
motive machines, vehicles and various other machines that we use in our daily life.
Tirupati Forge is entering into the capital market through SME IPO. It will issue 18,00,000
equity share of Rs. 10 each at a fixed price of Rs. 29 per share. It will raise Rs. 5.22 crore.
Issue opens on 29th September, 2017 and will close on 4th Octo-
ber, 2017. Minimum application is to be made for 4000 shares and
in multiples thereon, thereafter. Post allotment, shares will be listed
on NSE SME Emerge. Pantomath Capital Advisors Pvt. Ltd. is the
sole lead manager for this SME IPO and Link Intime India Pvt. Ltd.
is the registrar to the issue. Issue constitutes 30.97% of the post
Issue Details issue paid up equity capital of the com-

Issue Open : Sep 29, 2017
Issue Closes : Oct 4, 2017
pany.
Issue Type : Fixed Price Issue IPO
Issue Size : 1,800,000 Equity Shares The company had started its operations
Total Issue Size : Rs 5.22 Cr
Face Value : Rs 10 Per Equity Share in 2012, under the management of its Di-
Issue Price : Rs 29 Per Equity Share
Market Lot : 4000 Shares rectors, Ajay Sardhara and Bhavesh
Minimum Order Quantity : 4000 Shares
Listing At : NSE SME
Financial Weekly

INVESTMENT
Barsiya. Later on, Hitesh Thummar joined the board of the Com-
pany and under his guidance it has expanded its sales and opera-
tions to domestic market on long scale basis. The company was
initially set up to cater the requirements of international market
mainly to United States of America and gradually, we have started
exporting our products to Italy, Morocco, etc and domestic mar-
ket.
Out of its total revenue from operations, more than 88.04% was
from exports in the financial year 2014-15. For the financial year
2015-16 and 2016-17, revenue from exports is 63.06% and 28.47%
respectively. Revenue from domestic sales is 36.94% and 71.53% respectively.

It has modern facility equipped with CNC machines which enables it to supply products
based on internationally recognized standards. Its manufacturing facilities are well equipped
with required facilities including machinery, other handling equipment to facilitate smooth
manufacturing process. The company endeavours to maintain safety in the premises by
adhering to key safety norms.It also complies with TUV Nord for Quality Assurance System
Promoters of Tirupati Forge

• Hitesh Thummar : Aged 35 years, Hitesh Thummar is the Chairman and Managing Director
of the Company. He has been the Director of the Company since March 25, 2017. He is a
Master of Business Administration in International Marketing from Queensland University,
London. He is the guiding force behind the strategic decisions of the company and has been
instrumental in planning and formulating the overall business strategy and developing busi-
ness relations of the Company.
• Ajay Sardhara : 34 years old Ajay Sardhara is the Promoter and Whole Time Director of the
Company. He has completed Bachelor in Commerce from Saurashtra University. He has an
experience of about more than 12 years in this Industry. His key responsibilities in the Com-
pany include compliance, taxationand legal issues of the Company.
• Bhavesh Barsiya : Aged 41, Bhavesh Barsiya is a Director of the company. He has been the
Director since incorporation and is also one of the subscribers of MOA of the Company. He
has an experience of about more than 18 years in this field. He currently heads research and
development unit for designing and developing innovative technology solution.
• Bhargavi Thummar, aged 35 years, is the Promoter of the Company. she has completed
Bachelor in Commerce from Saurashtra University.
Financial Weekly

INVESTMENT
besides ISO and strives to deliver quality Tirupati Forge is entering into the capital
market through SME IPO. It will issue 18,00,000
products to the customers. equity share of Rs. 10 each at a fixed price of
Rs. 29 per share. It will raise Rs. 5.22 crore.
It believe in manufacturing and deliver- Issue will close on 4th October
ing quality products and its manufacturing process is under constant Out of its total rev-
enue from operations,
supervision by Engineers. The entire system is backed by proper more than 88.04%
was from exports in
documentation, traceability until the end product, with full proof checks
the financial year
required as per ISO regulations. It is dedicated towards supply of 2014-15. For the
financial year 2015-16
quality products by controlling the procurement of its raw material, and 2016-17, revenue
from exports is
monitoring the process parameters and maintaining appropriate mea- 63.06% and 28.47%
respectively
sures to comply with applicable statutory and regulatory require-
ments of products.
Tirupati is equipped with in-house testing laboratory for checking of raw materials. Raw
material purchased by it undergoes independent testing and quality check to ensure that
they are of relevant quality and match the standards as specified. The finished products are
checked in its in-house testing laboratory to ensure that the same is of relevant standards
and design as specified by the customer; the products are then packed and dispatched.
Its total revenue for the last year i.e. 2016-17 was at Rs.1636.77 lakh against Rs.1827.56
lakh, while, its net profit was Rs.50.50 lakh against Rs.16.95 lakh. So, there was huge jump
in profit inspite of decline in sales. Its EBITA margins were also up at 12.99% against
10.78% last year. Its Debt-Equity ration has come down at 3.8 from 5.18. Tirupati Forge has
Key Milestones continuously increased its reserve and

• Received Award for Export Excellence from EEPC surplus. It was 192.21 lakh in last finanical
India, Western Region for Steel Forging 2017
• Received Certificate from TUV Nord for Manage- year against Rs.141.71 lakh in previous
ment System in accordance with ISO 9001:2008
year. So, the balance sheet of the com-
2013
• Received Certificate from TUV Nord for Manage- pany is improving year on year.
ment System in accordance with PED AD 2000
And Received Status of One Star Export House
2016
• Incorporation of Company 2012
Financial Weekly

INVESTMENT
TRADNICAL STRATEGY
Email: [email protected], M. 9228237373
NIMESH THAKER, BARODA
Downside Look Limited here ....

Expect Range Bound Trend
Last week, Market remains very volatile as per expected line which we discussed in last week
and also mentioned target 9850-9700 seen to be achieved.
Nifty has trading near its medium term support area called as 100 days EMA,(exponential mov-
ing average ) from where sharp pull back was seen on last two session of week. second, very
important to notice here,on expiry day FII was sold near 5000cr and DII was buy worth on it, we can
considers as strength of Indian market.
So base on last week movement and major event lined up ahead in next week, I expect that
Nifty may settle in the range of 9750-9700 for a while on downside. where 9850-9900 may remain
a resistance zone.
Coal India : Buy :- Coal India is the largest coal producing company in the world, it pro-
duces non-coking coal and coking coal of various grades from its 11 coalfields in which it conduct
its most significant mining operations.
In last week, global energy price has witness in sharp spurt. It also rise in cooking and non
cooking price between 10-20% and it expected to remain sustain.
On technical side, recently company has made historic low of 233 from where strong pull-back
had came. On daily chart stock has given break out of reverse head and shoulder pattern.which
also confirm the counter trend may remain continue. As per measurement of pattern I expect mini-
mum 10% kind of up move from Friday's closing of 270 level.
I recommend to buy between 270-265 with sl below 255 tgt 300-320, it is advisable to trade with
10-15% of your trading capital.
Buy... Buy... Buy on Dips Hold Sell on High

Escorts 659.00 BEML 1586.00
SCI 89.00 N. R. Agarwal 263.00 Maruti 7973.00 Canfin Homes 2655.00
JSPL 134.00 V-Guard 182.00 Ramkrishna Forg. 596.00
Lypsa Gems 47.00 REC 152.00 IDEA 77.00
Indusind Bank 1679.00
Star Paper 172.00 TV Today 348.00 IOL Chemical 48.00
Sundram Fast. 439.00
Capri Global 114.00 Power Grid 210.00 LIC Hsg. 627.00
Hero Moto. 3781.00
City Union Bank 162.00 Repco Home 627.00 Kajaria Ceramics 708.00
Seshasayee P. 730.00
Kesar Petro 55.00 VRL Logistics 362.00 Bajaj Auto 3108.00 Wipro 280.00
Laxmi Vilas Bank 144.00 ARVIND 370.00 NIIT Techno 99.00 Castrol 357.00
Dish TV 74.00 KNR Const. 206.00 Bajaj Fin. 1834.00 Tata Power 641.00
Salzer Ele. 171.00 ONGC 172.00 PNB Housing 1475.00 United Spirit 2395.00
Balasore Alloys 62.00 Ashok Leyland 123.00
Financial Weekly

INVESTMENT
Rapid Fire Stocks

- Kalpna J (Email- [email protected]) (Ring : 97690 37711)
Thangamayil Jewellery Ltd. (Rs. 363.45)

Thangamayil Jewellery Ltd., incorpo- Category No. of shares (%)
rated in the year 2000, is a Mid Cap com-
Promoters 9,651,195 70.35
pany (having a market cap of Rs 498.64
Crore) operating in Gems and Jewellery General Public 2,089,490 15.23
sector. For the quarter ended 30-06-2017, Others 1,026,897 7.48
the company has reported a Standalone
NBFC and Mutual Funds 947,000 6.90
sales of Rs 434.03 Crore, up 19.25 % from
Financial Institutions 5,000 0.04
last quarter Sales of Rs 363.97 Crore and
up 51.28 % from last year same quarter Sales of Rs 286.91 Crore Company has reported net profit
after tax of Rs 9.62 Crore in latest quarter.
Technical Discourse : Stock is in uptrend, Buy at CMP: 363, Target - 450 to 465 ,SL- 330, Time
Frame 2 to 24 Months. Add in all dips
JSW Energy Ltd. (Rs. 72.15)

Category No. of shares (%) Technical Discourse : Stock is in
Promoters 1,229,940,274 74.99 uptrend, Buy at CMP: 72, Target -90-105, SL-
65, Time Frame 2 to 24 Months. Add in all
Financial Institutions 154,355,511 9.41
dips
Foreign Institutions 130,816,511 7.98
JSW Energy Ltd., incorporated in the year
General Public 75,658,787 4.61
1994, is a Mid Cap company (having a mar-
Others 28,256,351 1.72 ket cap of Rs 11029.37 Crore) operating in
NBFC and Mutual Funds 21,026,991 1.28 Power sector.
Foreign Promoters 370 0.0 For the quarter ended 30-06-2017, the
company has reported a Consolidated sales of Rs 2231.64 Crore, up 19.85 % from last quarter
Sales of Rs 1862.08 Crore and down -7.45 % from last year same quarter Sales of Rs 2411.24
Crore Company has reported net profit after tax of Rs 220.91 Crore in latest quarter.
Financial Weekly

INVESTMENT
Jatin Sanghavi
Market Scan (Mumbai)
(M) 098205 26455
[email protected]
NIFTY LIKELY TO TEST THE 200DMA

SELL ON EVERY RISE
The market has not only broken the critical Trendline support but also closed below the medium
term average of 50dma. Thus, as a result the trend in the short term as well as intermediate timeframe
has turned negative. Nifty has corrected right up to previous higher bottom which is at 9685. In
case we break this higher bottom then for the first time since December 2016, the sequence of
higher top higher bottom formation will be broken. A Bearish Rising Wedge pattern has been com-
pleted for the Nifty and the target is placed at 9237 which is very near to the long term average of
200dma.
TECHNICALLY SPEAKING :- Sensex opened the week at 31986, made a high of 32016, low
of 31081 and closed the week at 31283. Thus it closed the week with a loss of 639 points. At the
same time the Nifty opened the week at 9960, made a high of 9960, low of 9687 and closed the
week at 9788. Thus the Nifty closed the week with a loss of 176 points.
On the daily charts, both the indices have formed a small black body candle with an upper
shadow. Last two days have formed candlesticks which can be termed as neutral formations. On
the weekly charts, both the Sensex and Nifty have formed a big Opening Black body Marubuzo,
which indicates bearishness. Thus candlestick study indicates bearishness in the near term.
Both the indices have taken support at the higher bottom at Sensex 31128 and Nifty 9685. A
break of this support will interrupt the higher top higher bottom formation sequence for the indices
for the first time since December 2016. As a result, we will be looking at the Correction of the entire
rally of Sensex 7000 points and Nifty 2200 points. The relevant Correction levels are placed at
Sensex 30024-29202-28379 and Nifty 9306-9036-8767.
This week saw the indices completing a Bearish Rising Broadening pattern. As a result the
This Weeks Recommendations

Rec. Name CMP SL TGT-1 TGT-2
Sell UltraTech 3854 3944 3719 3581
Sell HDFC 1742 1773 1695 1647
Sell HUL 1174 1198 1128 1091
Sell RiL 781 798 755 728
Sell ApolloTyres 246 253 235 223
:::: INDEX LEVELS ::::
S3 S2 S1 CLOSE R1 R2 R3
NIFTY 9474 9589 9685 9788 9882 9988 10088
SENSEX 30338 30680 30965 31283 31626 31944 32348
Financial Weekly

INVESTMENT
pattern has a downside target of Sensex 29664 and Nifty 9237. The above targets will be achieved
as long as the Sensex remains below 32686 and Nifty 10138.
The current Rally has produced two major Bullish Gaps. The first Bullish gap is on daily charts,
between Sensex 29780-29681 and Nifty 9250-9225 will act as strong Support. The second Bullish
Gap which is more critical as it is also a Weekly Gap i.e. between Sensex 29356-29098 and Nifty
9060-8977 hold the key to the long term trend.
This week, both the indices decisively remained below the short term average of 20dma (Sensex
- 31886 and Nifty - 9978) and the medium term average of 50dma (Sensex - 31896 and Nifty -
9946). However, both the indices continue to remain above the long term average of 200dma
(Sensex - 29938 and Nifty - 9276). The price formations suggest that the indices are likely to test
the 200dma in the near term. Thus the Trend in the short term and the medium term timeframe has
turned bearish, whereas the trend in the long term timeframe continues to remain bullish.
On the weekly formation, both the indices had completed a Cup and Handle formation and the
targets are Sensex 34677-37554 and Nifty 10536-11413. If one considers the Cup and Handle
formation of 7 years from 2007 to 2014, the target for that pattern falls at Sensex 34715 and Nifty
10462. The Golden Ratio target of the current pattern weekly pattern of 2 years is at Sensex 34677
and Nifty 10536. Thus in the medium term one can expect a test of the above targets i.e. Sensex
34677-34715 and Nifty 10462-10536.
MACD and Price ROC are both in Sell mode. RSI (38) suggests bearish momentum. ADX has
improved to 23, which suggests downtrend is gathering strength. Directional Indicators continue in
Sell mode. MFI (42) suggests Negative Money Flow. OBV started making lower top lower bottom
formation. Bollinger Band has given a fresh Sell signal this week. Thus Oscillators are suggesting
a bearish bias.
Options data for October series indicate highest Call Open Interest has shifted lower at the strike
of 10000 whereas the highest Put build-up is at 9700. Thus Options data suggests a trading range
with resistance coming at 10000 & support at 9700.
Financial Weekly

INVESTMENT
Beta Drugs Limited

Strong Oncology player in Pharma space
Corporate Feature
Beta Drugs Limited is a part of Adley Group. Adley Group was
founded in the year 1985. Beta Drugs Limited is a pharmaceutical
formulation manufacturing company engaged in developing, manu-

facturing and marketing of drug products for domestic and inter-
national customers. Beta Drugs is primarily engaged in the manu-
facturing of Oncology products. The products include anti-cancer tablets, capsules, injec-
tions and lyophilized injections. Company has portfolio of over 50 products which is used
for the treatment of various cancer diseases.Company's manufacturing unit is located at
Solan, Himachal Pradesh.
BDL’s next focus is Beta Drugs Limited is entering into the SME IPO. It will issue
on self reliance in
Biotech and Bio- 22,96,000 equity share of Rs. 10 each. Issue price has been
similar segments,
which are already fixed at Rs. 85 per share. It will raise Rs. 19.52 crore through
initiated with the this issue. Issue has opened 29th September, 2017 and will close
major business tie-
ups with Reliance on 4th October, 2017 next week. Minimum application is to be
Life Sciences. Its first
major launch is made for 1600 shares and in multiples thereon, thereafter. Post
Pegfilgrastim allotment, shares will be listed on NSE SME Emerge. Pantomath
(ADFILL), which is
required in majority Capital Advisors Pvt. Ltd. is the sole lead manager and Link
of cancer patients
Intime India Pvt. Ltd. is the registrar to
Objects of the Issue
1. Purchase of new plant and machinery and the issue. Issue constitutes 26.54% of
upgradation of our existing plant and machinery.
2. Civil Construction work at existing manufacturing unit. the post issue paid up capital of the
3. To obtain registration of European Union GMP &
Pharmaceutical Inspection Co-operation Scheme company.
certificate.
4. Working Capital requirements. In the domestic market it sells its
5. General Corporate Purpose
Financial Weekly

INVESTMENT
Key Strengths products through its own sales & mar-

1. Focus on oncology segment. Manufacture over 50
products in this segment. keting team and it has also P2P which
2. 18 product registrations in various countries.
3. Company is in-process of making additional 12 appli- contributes around 65% of the total rev-
cations for product registration in various countries.
enue.
Beta Drugs Limited is entering into the SME
IPO. It will issue 22,96,000 equity share of Rs. Its current promoter Vijay Batra, took
10 each. Issue price is Rs. 85 per share. It will
raise Rs. 19.52 crore through this issue. Issue over the company from Kiran Goyal,
will close on 4th October, 2017 next week
Deepak Kumar Prince Bharti and Rohit
Bansal in the year 2014. Subsequently, the company was converted into a public limited
company and a fresh Certificate of Incorporation consequent upon change of name on
Conversion to Public Limited Company dated 11-08-2017 was issued by the Registrar of
Companies, and the name of the company was changed to Beta Drugs Limited.
In the year 2003, Government of India announced tax holiday for ten years, beginning
from the date of commercial production, for manufacturing units at Baddi. Under the tax
holiday scheme, the industry was offered exemption on excise duty for setting up units in
Baddi. Since Beta Drugs’ commercial production started in the year 2009-10, it will con-
tinue to enjoy tax holiday till the year Promoters of Beta Drugs Limited
2019-2020. Vijaykumar Batra
Promoter and Managing Director
Vijay Kumar Batra, aged 63 years is the Pro-
Main focus of the company is Oncol-
moter, and Managing Director of our Company.
He has more than 25 years of experience in
ogy products. Its products range from Pharmaceutical Industry. He is the guiding force
behind all the Corporate decisions and is responsible for the
anti-cancer tablets, capsules, injections entire business operation of the Company
Issue Details
Issue Opened : Sep 29, 2017
Issue Closes : Oct 4, 2017
Issue Type : Fixed Price Issue IPO
Issue Size : 2,296,000 Equity Shares
Total Issue Size : Rs 19.52 Cr
Face Value : Rs 10 Per Equity Share
Issue Price : Rs 85 Per Equity Share
Market Lot : 1600 Shares
Minimum Order Quantity : 1600 Shares
Listing At : NSE SME
Financial Weekly

INVESTMENT
and lyophilized injections. It started production of oncology prod- Beta Drugs is prima-
rily engaged in the
ucts by manufacturing portfolio of over 35 products which is used manufacturing of
Oncology products.
for the treatment of various cancer disease. As on March 31,
The products include
2017, it had a portfolio of over 50 products catering to various anti-cancer tablets,
capsules, injections
oncology diseases including breast, brain, bone, lung, mouth, head and lyophilized injec-
tions. Company has
& neck, prostate, haematology, cervics, oeaophagus etc. It has
portfolio of over 50
increased our product range, starting from 35 in 2015-16 to 50 products which is
used for the treat-
active products in 2016-17. Oncology portfolio includes key brands ment of various types
of cancer diseases
like Admine, Adgef, Addplatin, Erlotad etc.
Its revenues from sale of products in the domestic market grew by 47.24% from Rs.
2600 lakhs in
Fiscal 2015-16 to Rs. 3828.36 lakhs Fiscal 2016-17. In overseas market its sales grew
by 88.81% from Rs. 37.71 lakhs in Fiscal 2015-16 to Rs. 336.91 lakhs in Fiscal 2016-17.
Beta Drugs has posted turnover of Rs.41.68 crore and net profit of Rs.5.18 crore in the
last year against Rs. 26.39 crore and Rs.1.13 crore respectively, in the previous year. Its
average EPS for the last three years is Rs.4.95 and reurn on networth is 50.48 per cent on
an equity of Rs.1.01 crore.
BDL’s next focus is on self reliance in Biotech and Bio-similar segments, which are
already initiated with the major business tie-ups with Reliance Life Sciences. Its first major
launch is Pegfilgrastim (ADFILL), which is required in majority of cancer patients. Further,
with the launch series of biosimilars like Rituximab, Trastuzumab, Bevacizumab , the
group mulls crossing turnover of USD 2000 million by 2023. To achieve those targets, it
has been making dedicated efforts to start its own biotech. / Biosimilar productions and
exports. BDL’s client list includes giants like Torrent Pharma, Zydus Group, Biochem,
Alkem, Hetro Healthcare, RPG Life Sciences, Panacea Drugs etc.

Financial Weekly

INVESTMENT
Jignesh R Mehta
(SEBI Registered Research Analyst)
E-mail : [email protected]
Website : www.KiranJadhav.com
Phone: 95 95 113344
Nifty Breadth Turned Negative!

Since I could not write article for all you prized readers, it was indeed a regretful feeling for me.
This week's Nifty data clearly suggests that the people who were dangling carrot of the new high
just before 2 weeks on Nifty in all the Mainstream media have finally put all the innocent traders in
complete jeopardy. It was all and all seven trading days where Nifty took only lower moves. It was
good that lower moves finally stopped in last two days of the week. However the overall moves on
the Nifty has created an extreme short term chart to go bearish. This is almost a 3 curve pattern and
it has clear bearish inferences. The Chart pattern suggests the target of 9600 in next about 30
trading candles. We have to remember that this bearish pattern has happened quite above the
200DSMA levels and hence there are very high chances of the target to be achieved in the stipu-
lated time. Immediately from now Nifty may have some chances of going above to touch the neck-
line levels. It is high time that we adopt the strategy of sell of rise. So people who wants to create a
short view should start this view with 1/3 quantity and should carry on the same view until the
neckline levels are reached. The Neckline level of the pattern comes to 9950 and that also has to
be our stop loss on the short view. One must remember that this phase of the Nifty is bearish only
for short term and overall trend still seems to be BULLISH and that too a big time! Hence, an acute
investor would reshuffle and rebalance their portfolio by getting rid of stop loss hitting counters and
bringing price forming counters in to the portfolios.
Rising Star
Cipla (586.1) : NSE: CIPLA, SECTOR: Pharmaceuticals
It is indeed after along time, we got to see a Pharmaceutical company formed a bullish
pattern. Price formation is a prime motive for us to jump in to a stock with a bullish view and
hence it is worth considering this pattern today. If we assess the move that was created
since March-2015 when CIPLA was trading at around 730 kinds of level, It was quite a down
trend because in May-2016 the same stock touched the low of 466. After touching the base at
around 466 CIPLA started inching higher but falling trend line which is invisible on the chart
was never broken. Currently this chart is showing pattern of inverted Head and Shoulder.
This pattern is not yet broken out but the moving averages group suggests that the short term
group of EMAs are staying above Long term group and both are starting to spread in positive
Financial Weekly

INVESTMENT
way. Price is also substantially staying above the 200 DSMA. These all suggests a bullish
undercurrent in the counter. Price is staying above the support line as shown in the chart.
Neckline of the Inverted Head and Shoulder is ready to be broken with all other bullishness in
the counter. Such a stock if breaks the neckline on upside, it has a chances of going towards
790 kind of levels. Hence this stock should be created a bullish view on with Stop loss at
support line i.e 520 and Target at 790 in coming Year or so. If stock demonstrates the upside
journey then a trailing stop loss should be followed as a concurrent support line.
Jignesh R Mehta (SEBI Registered Research Analyst)

www.kiranjadhav.com ([email protected])
Phone: 95 95 113344
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.
Financial Weekly

INVESTMENT
- Parag Salot
Technical Trading Trends (SEBI Registered Research Analyst)
M. : 91-9930011789
Nifty Overview : In Last Trading Session, Nifty closed at 9795. Last week, we had suggested selling Nifty with SL
10130 and just check, Nifty made low of 9730. It seems Nifty is likely to correct more but expect it to be volatile as well.
Nifty range for now is between 9500 & 10000. It will take a while to be Nifty to be positive again and currently it seems to
be sell at rise.
Bank Nifty Overview : In Last Trading Session, Bank Nifty closed at 24079. Last week we had suggested that
Bank Nifty will touch around 24200 levels and it made a low of 23701. Similarly to Nifty, even Bank Nifty will consoli-
date and correct and it will surely take lot of time before we can see it to be positive again.
Last Recommendation Review

Scrip Name BSE Buy/ Enter Did High/ Remark
Code Sell at Low
HCL Tech 532281 Buy 870 884.85 Target Achieved
Lupin 500257 Buy 990 1020 Target Achieved
ONGC 500312 Buy 164 174 Target Achieved
IGL 532300 Sell 1513 1478 Target Achieved
Trading Buy
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Fortis 532843 144 130/135 150 165 115
NMDC 526371 118 107/110 120 130 99
REC 532955 153 130/135 145 155 125
Tata Motors DVR 570001 224 215/25 235 255 210
Trading Sell
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Bata 500043 695 725/735 710 690 752
Century 500040 1230 1290/1300 1270 1250 1320
IGL 532514 1480 1530/1540 1510 1470 1565
JSW Steel 500228 250 265/270 258 250 275
L&TFH 533519 196 210/215 195 180 222
Tata Global 500800 207 215/220 205 195 227
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

INVESTMENT
Stock Buzz Subramanian Mahadevan

[email protected]
Elecon Engineering Company Ltd

(Rs 54): Powerful Gear !
Elecon Engineering Company Limited(Elecon) - is a Gujarat based company established in
1951 is one of the largest Power Transmission Equipment (PTE) and Material Handling Equip-
ment (MHE) manufacturer in India supplying hi-tech equipment to major core sectors of the economy
such as steel, sugar, power, fertilizers, cement, coal, lignite and iron ore mines with a market share
of 30% in PTE segment. Although the share of MHE segment, in terms of revenue, has come down
to 36.0% in FY16 from 42.4% in FY13, however, the lastly reported order book (Q3FY17) reflects
share of 43.8%, translating into better visibility. In addition to this, the recent order wins worth Rs
130 crore in the chemicals sector should have boosted the sentiments for its MHE segment. MHE
business which is being executed through another group company Elecon EPC is already merged
with Elecon to derive economies of scale and financial benefits. This segment may start witness-
ing strong traction from the government measures for recovery in core sectors of the economy. PTE
business has been holding its ground with augmented order book worth Rs 706 crore and opera-
tional efficiency. Moreover, the operating margins have improved considerably from 8.3% in FY13
to 13.4% in FY16, which is a positive sign for the business. From an order book perspective, the
major contributor has been the order worth Rs 530 crore received in the marine defense space
which includes orders worth 300 crore from Mazagon Dock Shipbuilders for supplying marine
gearboxes. Stalled projects, tightening cash flows, high interest rates and GST roll-out and plagu-
ing several core sectors of the economy for the last few years are passé and only better times are
ahead for both MHE and PTE business. Q1FY18 was a weak quarter due to customer specific
issues and company should get back to normalcy by end of FY18. Solid buy considering its five
decades experience and expertise, visionary management, strong dividend yield, good order flows,
manageable debt, decent book value (Rs. 65/share) and potential FY19 EPS of Rs. 14+/share for
decent appreciation and multi-bagger returns.
Financial Weekly

INVESTMENT
Siddharth Education Services

Enters the Capital Market
Corporate Feature
Siddharth Education Services Ltd. is a tutorial

coaching services for students of professional
courses and has been able to achieve a competitive
position in the state of Maharashtra, with primary op-
erations based in Mumbai. The Company has pres-
ence in the form of 4 coaching centers in Dombivli,
Thane, Vashi and Dadar. It has a team of 22 faculty
members. The Promoter and Chairman, Mr. Vinay
Bhagwat, has a vast experience of over 20 years in the field of teaching students
of professional courses. He is also the Founder of Siddharth Academy, which
was established in the year 1997.
Siddharth Education Services Ltd. is entering into the capital market with an
SME IPO. It will issue 29,52,000 equity shares of Rs. 10 each. Price Band is Rs.
30 to Rs. 36 per equity share of Face Value Rs. 10 Siddharth Education

each.The Issue has opened on 29th September 2017 and Services Ltd.
is a tutorial coaching
will close on 5th October 2017.The Floor Price is 3 times of
services for
the Face Value and the Cap Price is 3.60 times the Face students of profes-
Value. Bids can be made for a minimum of 3000 equity sional courses in the
shares and in multiples of 3000 equity shares thereafter.The state of
Book Running Lead Manager of the Issue is Gretex Cor- Maharashtra,
porate Services Pvt. Ltd. and the Registrars to the issue with primary
operations based in
are Karvy Computershare Pvt. Ltd. The equity shares of-
Mumbai
fered through the Draft Red Herring Company Promoters
Prospectus are proposed to be listed Mr. Vinay Shantaram Bhagwat
on SME platform. is the promoter of the company.
Mr. Vinay Shantaram Bhagwat, aged
The Company proposes to utilize about 46 yearsis the Chairman of our Com-
the net proceeds from the issue to pany. He holds Master‘s degrees in Com-
merce and Law fields. Further more he is
fund the establishing of new coach- qualified CA and CS.He has over two decades of experience in
ing centers. The Company has iden- the education industry.He is the founder of the business of the
Company and the brand name, Siddharth Academy.He is also
tified 10 locations. It also intends to trustee of Siddharth Education Society. For further details,
utilize the fund towards such poten- please refer to section titled =Our Management‘ beginning on
page 150of this Draft Red Herring Prospectus.
Financial Weekly

INVESTMENT
tial acquisitions of human resource Issue Details

training institutes and other strate- Issue Open : Sep 29, 2017 - Oct 5, 2017
gic initiatives. The Company pro- Issue Type : Book Built Issue IPO
Issue Size : 31,08,000 Equity Shares
poses to develop online learning Total Issue Size : Rs 10.88 Cr
platform and digital marketing Face Value : Rs 10 Per Equity Share
Issue Price : Rs 30 - Rs 35 Per Equity
through social media engagement. Share
The Company also intends to de- Market Lot : 4000 Shares
ploy the balance proceeds for gen- Minimum Order Qty.: 4000 Shares
Listing At : BSE SME
eral corporate purposes.
Siddharth Education has been Objects of the Issue:
providing tutorial services to C.S., 1. Establishment of new Coaching Centres
C.A. and C.M.A (ICWAI). The Com- 2. Acquisition of human resource training cen-
pany is operating under the brand tres
name ‘Siddharth Academy‘ since 3. Digital marketing and online training
4. General corporate purpose
inception. Its journey started in 1997, when Mr. Vinay Bhagwat, a professional
Company Secretary and Chartered Accountant, the promoter, perceived that stu-
dents are lacking proper guidance, mentoring and direction in pursuing profes-
sional courses. The tutorial services are provided through its classroom training
programmes conducted through a network of Company operated centres.
Company has established itself as tutorial coaching services for students of
professional courses and have been able to achieve a competitive position in
the state of Maharashtra, with primary operations based in Mumbai. Chairman
and Promoter, Mr. Vinay Bhagwat, has a vast experience of over 20 years in the
field of teaching students of professional courses.
Financial Weekly

INVESTMENT
Rs. In Lakh
Revenue from Operations Rs. In Lakh PAT
500
437.35 120
450
96.87
400 100
331.46
350 80 64.63
300 264.97
60
250
189.71
200 40
150 20
100
0
50
0 -20 2013-14 2014-15 2015-16 2016-17
-40 -0.38
2013-14 2014-15 2015-16 2016-17 -30.97
For the year ended 31st March 2017, the total revenue of the Company was
Rs. 496 lakhs and Profit Before Tax was Rs. 147 lakh. The Net Worth of the
Company was Rs. 542.66 Lakh and Net Asset Value per equity share was Rs.
13.90.
For the financial year 2016-17, company has reported total income of Rs. 5.23
crore and net profit of Rs.1.04 crore against total income of Rs.3.69 crore and net
profit of Rs.0.65 crore in the financial year 2015-16. Its average EPS is Rs.1.22.
Return on net worth is 17.62 per cent.
India holds an important place in the global education industry. The education
market in India is currently valued at US$ 100 Billion and is expected to nearly
double to US$ 180 Billion by 2020. India has more than 1.5 million schools with
over 260 million students enrolled. The country also has 751 universities and
35539 colleges. India has one of the largest higher education systems in the
world. India has become the 2nd largest market for e-learning after the US. The
sector is currently tagged at US$ 2 Billion and is expected to reach US$ 5.7
Billion by 2020. The distance education market in India is expected to grow at a
compound annual growth rate (CAGR) of around 11% during 2016-2020.
Siddharth Education For the financial year
Services Ltd. is en- 2016-17, company
tering into the capital has reported total
market with an SME income of Rs. 5.23
IPO. It will issue crore and net profit
29,52,000 equity of Rs.1.04 crore
shares of Rs. 10 against total income
each. Price Band is of Rs.3.69 crore and
Rs. 30 to Rs. 35. The net profit of Rs.0.65
Issue will close on crore in the financial
5th October year 2015-16
Financial Weekly

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

E-mail ID : [email protected]
Market enters correction

We had given headline market in decisive range (9950-10050) and range break out will be
severe and also stated below 9950 9820 levels will be seen,now 9820-9850 are upside level
which are now resistance and unless Nifty closes above 9850 upmove will not start and this week
nifty is close in below 9825-9850 so for short term correction will be seen for few weeks Nifty will
see levels for 9700-9650-9600-9550 levels so October we will see new monthly lows , and over all
this correction is not bear trend it is a part of bull trend retracement as market is in multi year bull
market where dip in nifty 200-300 point after can accumulate good stocks first let major dip happen
and we will mention when to accumulate of stocks and Nifty ,so sell on every good rise to short
position ,geopolitical lot of negative action are going on so let it settle.
Technically weekly low and lower high is being formed which clearly states Nifty not sustaining
higher level and form new lows.
Stocks to watch out
Short DLF near 161-163 for 157-155 SL 166
Short SBIN bank at 252-253 for 248-245 SL 256
Short HINDALCO at 236-238 for 232-230-228 SL 242
Financial Weekly
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Financial Weekly

INVESTMENT
Nilesh S. Kotak
Value Buy (Mob. : 8866004076)
Polyplex
Polyplex is one of the major company deals in Packaging Material.
They are having global presence especially in USA, Nedherlands, India, China, Turkey & Thai-
land.
The Products are:
Sarafil
Saracoat
Saralam
Saraprint
Polyplex moved closer to its North American customers through Spectrum Marketing, Inc., a
joint venture based in Fort Worth, Texas, for warehousing and distributing Polyplex products. In
view of the growing American market demand and the absence of new PET film capacity, Polyplex
decided to invest in USA in 2011. In 2009, addressing the strategic need to establish a long-term
presence in the fast growing Chinese market, Polyplex incorporated Polyplex Trading (Shenzhen)
Co. Ltd. as a distribution entity in China. In September 2013, PE incorporated a 100% owned
distribution subsidiary in Turkey by the name of POLYPLEX PAKETLEME ÇÖZÜMLER? SANAY?
VE T?CARET ANON?M ??RKET? to facilitate better market reach in local Turkish market.
POLYPROPYLENE (PP) FILMS
In the backdrop of rapid demand growth rates in India and the need for a single-point supplier of
a wider range of packaging films, in 2010, Polyplex diversified its product portfolio to include a
range of Biaxially Oriented Polypropylene (BOPP) film products by commissioning a line with a
capacity of 35,000 metric tons per annum at the Bazpur facility. The same year, a Cast Polypropy-
lene (CPP) film line with a capacity of 10,000 tons per annum was added at the Rayong facility in
Thailand. A Blown PP film line was commenced in Oct' 2013 with a capacity of 4,656 tonnes per
annum at Rayong, Thailand.
VALUE ADDED PRODUCTS
Innovating to simplify product sourcing, improve services and reduce costs for our customers,
Polyplex has continuously added downstream facilities to offer an expanded product portfolio that
includes Metallized films, Siliconised Polyester Release Liners, Extrusion Coated films and Chemi-
cally Coated films.
Financial Weekly

INVESTMENT
In 2002, Polyplex restructured the polyester industry value-chain and set a global benchmark
for efficiency by commissioning an in-house metallizer at Khatima with a capacity of 4,800 tons per
annum. This was followed by adding 3 metallizers at Rayong, 2 at Corlu, 2 at Bazpur and some
metallizing assets in USA through acquisition. In order to augment the capacity as well as portfolio
of Metallized films, the Company has added two new metallizers at Thailand & Turkey . With these
installations, the total capacity of metallized film stands at 71,500 tons per annum.
To deliver similar benefits to the Pressure Sensitive Adhesive industry, a state-of-the-art sili-
cone coating line with an annual capacity of 160 million sq. meters for the production of sophisti-
cated Siliconised Polyester Release Liners was commissioned at Khatima in 2007. To meet the
growing global demand, a second silicone coating line with a capacity of 500 million sq. meters
was commissioned at Rayong in 2011.
In April 2008, an Extrusion Coating line with an annual capacity of 150 million sq. meters for the
production of Thermal Lamination film was commissioned at Rayong, Thailand. A second Extru-
sion Coating Line with an annual capacity of 215 million sq. meter has also been commissioned at
Rayong, Thailand in June 2013.
With the objective of enhancing its Product Portfolio, Company commissioned an offline coating
line in Turkey in Q4 FY 2013-14 with another line in India started in Q2 FY 2014-15.
In April 2013, Polyplex expanded its market presence in the EU by setting up a wholly owned
distribution company in Netherlands named Polyplex Europe B.V. The distribution entity is fully
owned by Polyplex (Thailand) Public Company Limited (PTL). This new entity is strategically formed
to address the needs of our customers for value added products.
RECYCLING OF INDUSTRIAL WASTE
Polyplex has set up a recycling unit in Thailand with a capacity of 3000 MT per annum in order
to provide sustainable solution for film based process waste.
FMCG
Polyplex has invested into the fast growing beverages market in India through its subsidiary
Peninsula Beverages & Foods Company Private Limited (PBF) which is a wholly owned subsid-
iary of Polyplex (Asia) Pte. Limited, Singapore (PAPL). PBF is in the business of product develop-
ment, brands, marketing, sales and distribution of packaged beverages and food products which is
a significant and fast growing category in the consumer products space.
It's been an exciting journey, and Polyplex has come a long way, moving swiftly and dynami-
cally in step with the needs of a new and changing world.
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Financial Weekly

INVESTMENT
A. K. Asnani
(M) 9893512098
Smart Verc (Bhopal)
Author of Book
Way to Billionaire
Bharat Forge
Some company promoters are born passionate and Bharat Forge is one such company. About 16 years
back I was enthralled when I came to know that the company installed a very large press and is running at
a low capacity due to lack of orders from domestic automobile market and management has started looking
for exports. Since then I am invested and watching this company moves with keen interest. Today every
second heavy truck manufactured in USA runs on a 'Made by Bharat Forge, India' front axle beam.
Since then the company has passed through several challenges and every time it came out with flying
colours. I truly admire the passionate promoters and the management for their perseverance.
This Pune based company belongs to the Kalyani Group and is the world's largest forging company with
10 manufacturing locations across 5 countries. Last year its Sales formed 53% from supplies to Commer-
cial Vehicles, 19% to Passenger vehicles and rest to others. It boasts of Global marquee customer base of
more than 35 OEM's and Tier- 1 companies across automotive & industrial applications. Interestingly no
single customer exceeds 6% of consolidated revenues. Total sales are well spread with Europe accounting
for 43%, India 33%, USA 23% and rest to Asia Pacific.
For the first quarter Sales jumped by hefty 31.4% and Net Profit spiked up by 43.4% Due to strong cash
flows it was able to pay back its long term loans and net Debt / Equity declined to 0.19. Notably export
revenues shoot up by 64%! Also, the company has declared 1:1 bonus shares and 30 Sep 2017 has been
set as the record date.
Meanwhile, it bagged a prestigious and maiden order worth Rs 201 crores from the Ministry of Defence
to supply 1050 Dual Technology detection Equipment.
The future is brighter for the company considering the increased thrust on infrastructure, anticipated
implementation of regulatory and environmental norms in Automobile sector coupled with the pent-up de-
mand post GST. Strong thrust on import dependent sectors like Defence, Mining, Power, Railways and
Aerospace amongst others, has started bearing fruit.
Consider this - Kalyani Group Company, strongly diversified, zero long term Debt, increasing Dividend
trend During last five years Dividend has steadily increased from 170% to 350%, steadily rising Deprecia-
tion, reversal in falling trend of Sales and Net Profit from last three years for the first quarter of current year,
optimistic top management, liberal Bonus for shareholders, exceptionally healthy Reserves at 90 times
Equity!. Promoters hold 45.75% stake, while Mutual Funds and FPIs hold 6.71% and 19.77% respectively.
For full year, the company should be able to post an EPS of Rs 36. The current price of Rs 1232
discounts this by a PE of 34 times, offering a very good bet for medium to long term with medium risk and
about 30% to 40% returns in next 12 to 18 months. Portfolio weightage of about 6% is recommended.
Safety first investors may use a 'Stop Loss' of Rs 1100.
Disclaimer / Disclosure : A K Asnani is a SEBI registered Research Analyst and holds less than 1% equity stake
in above stock. He will not be responsible / liable for any loss arising out of investments based on its advices including
any inadvertent errors/omissions. Stock price movements/ returns are subject to market risk.
Financial Weekly

INVESTMENT
Technical News : 3-10-2017 to 6-10-2017

Manu Consultants : Manishkumar - Kolkata
SEBI REG:- RESEARCH ANALYST- INH300002449
• NIFTY FUTURE
NIFTY FUT SUPPORT AT 9700-9550 AND RESISITANCE 10165-10450
STRATEGY :- BUY BANK NIFTY ON DIPS TILL 23800 SL 23600 TA 24500-800
• STOCKS F&O:-
BEML (1590):- BUY BEML ON DIPS TILL 1560 SL 1530 TA 1665-1700
TATA COM (690):- BUY TATA COM ON DIPS TILL 680 SL 670 TA 720-40
APOLLO TYRE (246):- BUY APOLLO TYRE ON DIPS TILL 240 SL 236 TA 258-65
LNT FIN (195):- BUY LNT FIN ON DIPS TILL 190 SL 186 TA 204-10
• SELL STOCKS
SELL FORTIS ON RISE TILL 150 SL 155 TA 135-30
SELL IGL ON RISE TILL 1510 SL 1530 TA 1440-20
• DELIVERY STOCKS
BUY SANGHI IND SL 78 TA 140-80
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.
BUY.... BUY....BUY TIPS OF THE WEEK

Co. Name Code Price Co. Name Code Price
Genus Power 530343 56.00 Gufic Bio. 509079 81.00
Sanghi Ind. 526521 101.00 Coal India 533278 270.00
Dhanlaxmi Bk. 532180 37.00 Astec Life 533138 600.00
MEP Infra 539126 100.00 Rushil Decor 533470 967.00
Tamilandu Pe. 500777 66.00 Hatsun Agro 531531 695.00
Adani Trans. 539254 152.00 Godrej Ind. 500164 587.00
KEC Intl. 532714 307.00 ABM (I) 500002 1396.00
Deepak Nitrite 506401 193.00 Capital First 532938 733.00
GNA Axles 540124 313.00 Persistent Sy. 533179 668.00
Kalpataru P. 522287 365.00 Greenply Ind. 526797 273.00
Nucleus Pow. 531209 304.00 JSW Energy 533148 73.00
Lovable Lin. 533343 244.00 TVS Motors 532343 658.00
Petronet LNG 532522 231.00 Gail India 532155 419.00
Financial Weekly

INVESTMENT
Terrific Shots - Dilip K. Shah
Kalpataru Power (Rs.364.00) (Code:522287) :- It is leading power transmission

company which is also active in turnkey projects, construction and other segments. In FY2017, the
company's income increased from Rs7380.38 crore to Rs7512.47 crore, while profit increased
from Rs117.54 crore to Rs157.30 crore. As against equity of Rs30.69 crore, the company has
reserves of Rs2391.07 crore. In June quarter, the income increased from Rs1153.74 crore to
Rs1169.59 crore, while profit increased from Rs64.53 crore to Rs70.45 crore with EPS of Rs4.59.
The FII and DII hold big stake. The company's performance has been robust on domestic and
export fronts so can be invested with long term view.
MRPL (Rs. 126.00) (Code: 500109) :- Refinery and petro products company is plan-
ning to set up petroleum coke gas complex at investment of Rs15000 crore. The approval from
Cabinet for merger of ONGC, both HPCL and MRPL shares are witnessing bullish trend. The
government plans to sell its stake in HPCL to ONGC. As a result, HPCL will be the biggest oil
producing company of the country. HPCL owns 16.51% holding in MRPL. In June quarter, it wit-
nessed profit of Rs234.01 crore on income of Rs14494.61 crore. The stock seems to be attractive
at current price.
Radico Khaitan (Rs.166.00) (Code: 532497) :- Liquor segment company is number
two in the country. It got affected by liquor ban first in Kerala and then in Bihar. Moreover, the SC
order on not selling liquor on the Highways have also affected the liquor companies. As against
equity of Rs26.61 crore, the company has reserves of Rs1003.28 crore. The promoters hold 40.46%
and public hold 59.54% stake in the company. In June quarter, the company's income decreased
from Rs430.40 crore to Rs411.29 crore, while profit increased from Rs21.53 crore to Rs25.69 crore
with EPS of Rs1.93 crore. The company owns strong brand named Magic Movement and is likely
to benefit from changing lifestyle of people. It can be invested in small amount in phased manner.
Balasore Alloys (Rs.62.00) (Code:513142) :- Mittal family promoted company owns
six furnaces with total capacity of 68 MVA in Orissa. It produces 1.50 lakh MT bulk ferrous alloys
per year. It also owns captive mines in Orissa so the production cost remains fixed. As against
equity of Rs44.44 crore, the company has reserves of Rs490.57 crore. In June quarter, the company's
income increased from Rs168.23 crore to Rs297.22 crore, while profit increased from Rs8.44 crore
to Rs24 crore with EPS of Rs2.70. The stock is being quoted at lower than PE of 5. The stock is
attractive option for investment at lower level.
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

INVESTMENT
Sarvesh Ashok Trivedi
Stock Wave (Mumbai) (Mob) 09820728124
www.chartsanketstock.com
Cautious Movement Can Be Seen On

Upward Movement in Stocks
BSE Index (31283.72) :- It is moving downward from top of 32524.11. It shows oversold position on
daily basis, neutral on weekly basis and overbought on monthly basis. On upward movement, beyond
31543 it may go up to 31696 with resisting level at 31815. On the downward movement, below 31243 it may
go down to 31081 and more selling spree can be seen below this level.
Nifty Future (9800.55) :- It is moving southward from top of 10188.80. It shows oversold position on
daily basis, neutral on weekly basis and overbought position on monthly basis. On upward movement,
beyond 98200 it may go up to 9850, 9881, 990, 9940 as resisting level. On the downward movement, below
9789 it may go down to 9750, 9725, 9695, 9680, 9635 and 9590 as support.
Bank Nifty Future (24066.45) :- The index is moving downward from top of 25104.85. It shows over-
sold position on daily basis, neutral on weekly basis and overbought position on monthly basis. On upward
movement, beyond 24170 it may go up to 24265, 24360 and 24450. On the downward movement, below
23980 it may go down to 23980, 23790, 23700 and 23609 and below that selling spree can be seen.
Coal India (270.85) :- It is moving upward from bottom of 233.70. It shows overbought position on daily
and weekly basis, while oversold position on monthly basis. On upward movement, beyond 273 it may go
up to 282, 287 and 292. On the downward movement, below 262 it may get support at 258.
Hindustan Uniliver (1173.90) :- It is moving downward from top of 1287.60. It shows oversold position
on daily basis, overbought to neutral on weekly basis and overbought position on monthly basis. On up-
ward movement, beyond 1196 it may go up to 1212 with resisting level at 1222. On the downward move-
ment, below 1170 it may go down to 1159, 1127 with support at 1096.
Oil India (353.65) :- It is improving from bottom of 253.42. It shows overbought position on daily and
weekly basis, while neutral on monthly basis. On upward movement, beyond 256 it may witness resisting
level at 359 and beyond that to 365 and 372. On the downward movement, below 333 it may go down to
325.
ONGC (170.95) :- It shows improvement from bottom of 155.30. It shows overbought position on daily
and weekly basis, while oversold position monthly basis. On upward movement, beyond 175 it may go up
to 182, 185 and 188. On the downward movement, below 166 it may get support at 164.
Voltas (506.05) :- It is moving downward from top of 565. It shows oversold position on daily and weekly
basis, while overbought position on monthly basis. On upward movement, beyond 510 it may go up to 517
with resisting level at 525. On the downward movement, below 494 it may get support at 485 and 477.
disclosure : The Recommendations are based on technical analysis. There is a risk of loss in
trading.
-: Golden quote :-
Two things define you, your patience when you have
nothing, and your attitude when you have everything
Financial Weekly

INVESTMENT
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Financial Weekly

INVESTMENT
Dilip Davda Best Buy

e-mail Expert’s Eye Automotive Axles,
[email protected] Super Sales,
Auto Corp.
Mega losses in derivatives expiry week

In the derivatives expiry week, while markets started the week with a negative trades and continued it till
mid week, last two sessions it posted some gains, but that were pretty short for recovering previous seven
negative sessions losses. Domestic economic data along with geopolitical tension kept a tab on general
sentiment and rising crude and falling rupee added fuel to the fire. Although Q2 number season is around,
bulls and operators preferred to stay liquid amidst mounting geopolitical tension on global front and weak-
ening economy on domestic level. However, punters said that mega funds going for new offerings too have
curtailed the inflows that have resulted in poor trades in secondary market. Myanmar surgical strike report
brought panic selling in mid week.
During the week, indices moved in the range of 9960.50-9687.55 and 32016.52-31081.83 for NSE Nifty
and S&P BSE Sensex respectively.
Secondary Market :- Post divergent opening on Monday indices kept sliding on selling at every rise
ahead of derivatives expiry. NSE Nifty lost 91.80 points to close at 9872.60 and BSE Sensex marked
deficit of 295.81 points to end the day at 31626.63. First session of this week was the fifth negative session
in a row. Weakening Rupee and rising Crude Oil prices kept a tab on sentiment. Banking, Capital Goods,
Metal, FMCG, Auto, Pharma counters lead the doom and got support from Mid and Small cap counters.
FIIs were net sellers and DIIs were net buyers for the day. Capacit'e got listed on BSE and NSE and
Dividend Announcements
opened with a 64% premium and closed with 37% premium on offer price. Vidhi Spl (20%) etc.
Sagar Diamond got listed on BSE SME and after positive opening, it closed at
discount to offer price. Bonus Announced
Money Matters (1 : 4)
On Tuesday market opened flat but in green. After morning trade on posi-
tive trends, it kept sliding again post noon to close in red. NSE Nifty posted ex-Split
Sutlej turned (10 for 1).
deficit of mere 1.10 points to end the day at 9871.50 and BSE Sensex marked Elpro Intl (2 for 1)
loss of just 26.87 points to close at 31599.76. Market moved sideways ahead Trans. & Rect. turned (10 for 1).
of derivatives expiry. Banking, Consumer Durables, Metal, Auto counters ex-Bonus

Loyal Equip (1 for 2),
witnessed short coverings, but could not arrest falling trends. Pharma counters Manpasand Bev. (1 for 1)
too surged on fresh support. Oil and Gas counters gained as Crude kept MOIL (1 for 1)
Bharat Electronics (1 for 10),
boiling. DIIs were the net buyers while FIIs were net sellers for the day. Se- Bharat Forge (1 for 1)
Bharat Heavy (1 for 2)
lect Mid and Small cap counters gained on value buying. Sutlej turned ex-split
(10 for 1). Shri Krishna Metcom got listed on NSE SME. SBI Life to list on 03.10.17
and Prataap Snacks on
On Wednesday markets opened higher with a gap, but post noon, it lost
05.10.17 on BSE/NSE
Financial Weekly

INVESTMENT
heavily with sell off across the board ahead of derivatives expiry as geopolitical tension made fresh rounds.
NSE Nifty marked loss of 135.75 points to close at 9735.75 and mirroring similar sentiment, BSE Sensex
posted deficit of 439.95 points to end the day at 31159.81. Reports of Myanmar surgical strike brought
panic selling. Also expert hinted at weakening economy post GST which has brought many industries on a
standstill position. This was the seventh negative session in a row. Mid and Small cap counters too met
with selling spree at every rise. FIIs were net sellers and DIIs were net buyers for the day. Elpro Intl turned
ex-split (2 for 1).Scrip turned ex-bonus included Loyal Equip (1 for 2), Manpasand Beverages (1 for 1) and
MOIL (1 for 1). Money Matters announced bonus shares in the ratio of 1 share for every 4 shares held.
ICICI Lombard got listed on BSE/NSE and after opening at discount, it managed to close with some gains.
Worth Peripheral got listed on NSE SME.
Opening on a positive note on Thursday market gained momentum post noon to recover the losses of
previous sessions. However, continued selling spree limited the gains. NSE Nifty scored 33.20 points to
end the day at 9768.95 and BSE Sensex gained 122.67 points to close at 31282.48. Market witnessed
range bound trades on the derivatives expiry day. However, operators felt sigh of relief as indices man-
aged to close in green. Short covering in Banking, Metals helped indices to register recovery. Pharma
counters too surged on fresh buying. Mixed trends were marked for Capital Goods, Auto counters. FIIs v/
s DIIs trend continued for the day. Scrip turned ex-bonus included Bharat Electronics (1 for 10), Bharat
Forge (1 for 1) and Bharat Heavy (1 for 2). Transformer & Rect turned ex-split (10 for 1).
On Friday markets opened higher with a gap and gained in morning trades, but post noon squaring up of
positions from weekly traders curtailed gains. NSE Nifty gained just 19.65 points to close at 9788.60 and
BSE Sensex scored mere 1.24 points to end the day at 31283.72 Market felt sigh of relief as both bench
marks managed to close above crucial levels of 9.75K and 31.25K respectively. With volatile trades for the
day while Nifty closed with some gains, Sensex closed flat with tiny gains. Telecom, Realty, Metal, Con-
sumer Durables and Auto counters gain helped indices to stay green. Market breadth was positive. AKM
Lace got listed on BSE SME. MP Today got listed on NSE SME.
In a derivatives expiry week, NSE Nifty and BSE Sensex marked net weekly Loss of - 175.80 and -
638.72 points respectively.
During the week, dividend announcements came in from Vidhi Spl (20%) etc.
Rupee continued to slide to mark recent new low of Rs. 65.80 a dollar before settling at Rs. 65.28 at the
weekend. Crude Oil too remained firm around 57$ a barrel on Geopolitical tensions and kept a tab on
general sentiment. Now all eyes will be on auto and cement dispatch data for September month and then of
course on RBI Monetary policy as it has scheduled its meet on 04.10.17. Other economy data will also be
announced in next 8-10 days. Thus market will take cues from all these factors for a while. Thereafter, Q2
number season will start that will keep market in stock specific mode as usual. Market has four sessions
in ensuing week as it is closed on Monday (02.10.17) on account of Mahatma Gandhi Jayanti.
Amidst ongoing holiday moods, NSE Nifty and BSE Sensex may hover between 10050-9350 and 32100-
30250 respectively for the ensuing week as Geopolitical tension is still shadowing global markets.
SBI Life to list on 03.10.17 and Prataap Snacks on 05.10.17 on BSE/NSE.
Scrip Watch :- Investors may keep following scrip on radar for their investment plans:
Financial Weekly

INVESTMENT
Automotive Axles (BSE Code: 505010) :- This automotive component manufacturing company has
reported net profit of Rs. 12.90 crore on a turnover of Rs. 321.37 crore for Q1 of FY18 against net profit of
Rs 11.11 crore on a turnover of Rs. 323.87 crore for the corresponding previous period. Thus despite
lower top and higher depreciation and taxation provisions, it has posted improved bottom line. For FY17 it
posted net profit of Rs. 48.58 crore on a turnover of Rs. 1148.82 crore. As on 30.06.17 it's paid up equity
capital of Rs. 15.11 crore is supported by free reserves of Rs. 405 crore. Scrip may be considered at
declined levels for medium to long term investment. It currently quotes around Rs. 872.60 against 52 week
High/Low of Rs. 918/582, FV Rs.10.
Super Sales (BSE Code: 512527) :- This textile sector company has posted net profit of Rs. 4.29 crore
on a turnover of Rs. 67.24 crore for Q1 of FY18 against net profit of Rs. 3.01 crore on turnover of Rs. 56.48
crore for the corresponding previous period. For FY 17 it earned net profit of Rs. 15.95 crore on a turnover
of Rs. 257.59 crore. As on 30.06.17 it's paid up capital of Rs. 3.07 crore is supported by free reserves of
Rs. 139 cr. Scrip may be considered at declined levels for medium to long term investment. It currently
quotes around Rs. 622.15 against 52 week High/Low of Rs. 719/504, FV Rs. 10.
Auto Corp (BSE Code: 505036) :- This pressing and bus body segment company has posted net
profit of Rs. 5.85 crore on a turnover of Rs. 131.09 crore for Q1 of FY18 against net profit of Rs. 6.33 crore
on a turnover of Rs. 126.63 crore for the corresponding previous period. Lower other operational income
has resulted in lower net for Q1 of current fiscal. Expected growth for automotive sector augurs well for this
company. For fiscal 2016-17 it posted net profit of Rs. 20.98 crore on a turnover of Rs. 508.39 crore. As on
30.06.17 it's paid up equity capital of Rs. 6.42 crore is supported by free reserves of Rs. 195 crore plus.
Scrip may be considered for medium to long term investment. It currently quotes around Rs. 723.00 against
52 week High/Low of Rs. 860/540, FV Rs. 10.
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: [email protected] )
Financial Weekly

INVESTMENT
Scrip Watch - Dilip K. Shah
Catrol India (Rs. 270.00) (Code : 533278) (F. V. : 10.00) :- Castrol is the price
setter in the Indian automotive lubricant market because of its strong brand recall and large distri-
bution network. More importantly, the government has kept the GST rate at 18% compared to the
prevailing rates of around 28%. This is because the unorganised segment is very large and the
government wants to facilitate the shift from unorganised to organised. Large organised players
have already started reducing prices, thereby reducing the price gap with that of unorganised play-
ers. Stable crude oil prices are also helping Castrol to maintain its margin.The stock has been in
long consolidation mode and has been in the range of Rs.360 to Rs.450. At CMP of Rs.390 level,
is it worth accumulation. Buy more at decline.
Tata Steel (Rs. 651.00) (Code : 500470) (F. V. : 10.00) :- Tata Steel is set to
forge ahead with a long-awaited merger of its European assets with Germany’s Thyssenkrupp AG
after the firms signed a memorandum of understanding to create an equal joint venture. The merger,
if it goes through, would create Europe’s largest steel company after top-ranked ArcelorMittal. The
company — created by the non-cash transaction — would generate pro forma sales of about €15
billion a year, with about 48,000 employees across 34 locations. The companies estimate the
merger would generate up to €600 million in synergies a year through the integration of research
and development, and commercial functions, and optimisation of procurement and logistics.Tisco
stock has been outperformer through this year against all the steel stocks. Buy as it will rally further.
Rushil Decor (Rs. 967.00) (Code : 533470) (F. V. : 10.00) :- Rushil Decor
offers comprehensive engineered interior products include decorative laminate sheets and plain
particle boards.Rushil Decor Limited posted revenues of Rs.73 crores in 3Q17, reflecting a contin-
ued strong growth in the medium density fibreboard or MDF space. The company has managed a
rise of 41% in total profits from divisions backed by a healthy product mix, a rise in demand for
quality and diversified offerings, and lower input prices.The company is currently trading at 19x on
enterprise value to earnings before income tax on FY17 estimates. Rushil Decor Ltd is planning to
set up a manufacturing unit for medium-density fibre at Atchutapuram in Visakhaptnam. The Gujarat-
based company and part of Rushil Group has come up with a proposal to set up an unit with a
capacity of 600 cubic metres per day with an outlay of Rs.559 crore in a phased development.The
stock, after more than20 per cent jump, has corrected last week. Accumulate.
Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may have investment in this
stocks • I/My family have no financial interest or beneficial interest of more than 1% in the company whose stocks I am recommending • Stop loss is useful for Short /
Medium Term investor Only • Smart Investment will not be responsible / liable for any loss arising out of investment based on tis advices • Past performance may or may
not be substainedin future " (Dilip K. Shah) Research Analyst : SEBI Regn No. : INH000002152
Financial Weekly

INVESTMENT
Market Tips - Dilip K. Shah
Oberoi Realty (Rs. 423.00) (Code : 533273) (F. V. : 10.00) :- Oberoi Realty
has won the bid to acquire GSK Pharma’s 60acre land parcel in Thane for Rs.555 crore. We be-
lieve the acquisition is value accretive for Oberoi with estimated development potential of 9.2msf
and NAV addition of Rs.53 per share. Its balance sheet allows further NAV growth through new
land acquisition using leverage. While maintaining a buy call on the stock with increased target at
Rs 516 (from Rs 484), CLSA said recently-awarded Thane project may substantially scale-up
company's residential sales and should add 30-40 percent to company's project portfolio by
area.Morgan Stanley also maintained its overweight rating on the stock with a target price Rs 399
as it feels land win is strategic & value-accretive.JPMorgan said the project can easily be funded
given underlevered rent company and finished inventory in Goregaon. The research house has
maintained overweight rating on the stock with a target price of Rs 440. Buy.
Relaxo Footwear (Rs. 522.00) (Code : 530517) (F. V. : 1.00) :- Relaxo
Footwear is a New Delhi-based company which has given a share price return of over 7400 per-
cent over the last 10 years. About Rs 15000 invested in it a decade ago is now worth over Rs 1
crore. Mutual funds and foreign institutional investors have incrementally raised their stake in Relaxo
Footwear. As far as the Margins are concerned,Relaxo Footwear has proved to be the best among
its peers as it continuously increased its margins each year from 4.41 percent in FY12 to 6.98
percent in FY17. the company is planning to add more value added brands in its portfolio (largely
catering to children and women) in the coming years. Implementation of GST will turn out to be a
silver lining for the company as a large shift from unorganised players is expected to happen in
near future. Buy.
Seshasayee Paper (Rs. 730.00) (Code : 502450) (F. V. : 10.00) :- Seshasayee
Paper and Boards operates an integrated pulp, paper and paper board Mill at Pallipalayam, Tamil
Nadu.The company manufactures paper and paper boards at units in Erode and Tirunelveli with
total production capacity of around 165,000 tonnes per annum and 110,000 tonnes per annum
respectively.June quarter results were not good. Its net profit of Seshasayee Paper & Boards de-
clined 9.83% to Rs 21.75 crore in the quarter ended June 2017 as against Rs 24.12 crore during
the previous quarter ended June 2016. Sales declined 1.32% to Rs 238.64 crore in the quarter
ended June 2017 as against Rs 241.83 crore during the previous quarter ended June 2016.How-
ever, the things are improving and managment has exuded confidence that September quater
would be much better. The small-cap company has equity capital of Rs 12.61 crore. Face value
per share is Rs 10. Buy.
Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may have investment in this
Financial Weekly

INVESTMENT
SMART TIPS Smita N. Zaveri
Tamilnadu Petro Products (Rs. 66.00) (Code: 500777) :- Shares

of this commodity chemicals company are listed in the B Group and have face value of Rs. 10. The
shares touched a high of Rs. 74 and low of Rs. 21 in the last 52 weeks. The company mainly
produces Linear, Alkyl, Benzene (LAB), which account for 90% of its income. Its other products
include Chlor Alkyl, which is mainly used in detergent cleaning product textiles. The company is
soon set to start production of Propylene Oxide. For 2016-17, it reported income of Rs. 1,010 crores
and net profit of Rs. 90 crores. For June quarter, income was Rs. 298 crores, and profit was Rs.
10.35 crores. The stock can be seen touching fresh 52-week high in the short term, and cross Rs.
100 in the medium to long term.
MEP Infra (Rs. 100.00) (Code: 539126) :- Shares of this roads and highway
construction company have face value of Rs. 10 and are listed in B Group. The shares touched a
high of Rs. 148 and low of Rs. 34 in the last year. Besides toll collection, MEP Infra is also engaged
in Hybrid Annuity Model (HAM), Operate, Maintain and Transfer (OMT), and Build Operate Trans-
fer (BOT) segments. The company is gearing up to launch InVits. MEP has bagged a number of
projects in different parts of the country recently. It reported decline in income and profit in the first
quarter of 2018. Income was Rs. 380 crores, and net profit of Rs. 11.77 crores. With NHAI setting
an ambitious target of developing 40,000 km roads and highways in four to five years, the company
is expected to do well going ahead.
Sanghi Industries (Rs. 100.00) (Code: 526521) :- Shares of this ce-
ment company are listed in the B Group and have face value of Rs. 10. The shares touched a high
of Rs. 101 and low of Rs. 46 in last 52 weeks. The Gujarat-based company is set to enter Maharashtra
and Rajasthan in near future. The company has annual cement capacity of 4.1 million tonnes. It
also has a 62 MW fully integrated thermal power plant. For the quarter ended June 2017, Sanghi
reported income of Rs. 313 crores, and net profit of Rs. 31.60 crores. Promoter holding in the
company is 74.94%. Cement demand is expected to rise looking at the Centre's focus on infra-
structure. The share is trading near the 52-week high, and can be seen at Rs. 125-130 in the
medium term. It is believed that ace investor Ashish Kacholia has been aggressively buying shares
of this company.
Genus Power Infra (Rs. 56.00) (Code: 530343) :- Shares of this other
electrical equipment manufacturer are listed in the B group and have face value of Re. 1. The
shares touched a high of Rs. 58 and low of Rs. 32. The company produces electric smart metres,
demand for which is expected to zoom due to the central government's ambitious plan of covering
all villagers with electricity. It is noteworthy that Ashish Kacholia holds 46 lakh shares and Vallabh
Bhansali hold 30 lakh shares of this company. Genus Power has a share of 27% in electric smart
metres. It is also looking at growth opportunities overseas. For June 2017, the company reported
income of Rs. 184 crores and net profit of Rs. 14.23 crores. While other companies operating in this
space are trading at 38 times the earnings, Genus Power's shares are quoting at PE multiple of
14.8. There is possibility of re-rating of the stock.
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 2nd October 2017 unless
specified o Stoploos is useful for Short - Medium term investors only
* Disclaimer :- • Smart Investment will not be responsible / for any loss arising out of investment based on its recommendation. • Though, every care has been taken,
we will not responsible for any errors / omissions • All disputes are subject to Ahmedabad jurisdiction
Financial Weekly

INVESTMENT
Smart super duper - Dilip K. Shah
Greenply Industries (Rs273.00) (Code:526797) :- It is the biggest interior infra-

structure company of the country with presence in 300+ cities and towns of 21 states. It accounts
30% market share in organized plywood and 30% in organized laminate market in the country. It
exports products in more than 100 countries. It is benefitted by GST. After demerger of Greenlam
Industries, the stock holders have got handsome returns. In 2017, the company's income increased
from Rs1657.67 crore to Rs1664 crore, while profit decreased from Rs127.69 crore to Rs125.44
crore. It paid 60% dividend in 2016 and 2017. It may get benefitted from Smart City and Housing
For All schemes.
Deepak Nitrite (Rs193.00) (Code:506401) :- Despite poor market sentiments, the
stock is touching new highs. In June quarter, the company's income increased from Rs313.70
crore to Rs337.36 crore, while profit decreased from Rs67.86 crore to Rs20.10 crore. The profit
was higher in June 2016 quarter due to one time profit of Rs70.77 crore. As against equity of
Rs26.14 crore, the company has reserves of Rs690.20 crore. The company's majority stock has
been cornered by renowned funds. The chemical sector's performance has been very good in
recent time and lower import from China may help the company perform better. The stock can be
included in portfolio on downward movement.
Nucleus Software (Rs.304.00) (Code:531209) :- The stock is listed in the B group
with facevalue of Rs10 a share. As against equity of Rs32.39 crore, the company has reserves of
Rs487.28 crore. In June quarter, the company's income increased from Rs89.95 crore to Rs94.32
crore, while profit increased from Rs10.83 crore to Rs11.51 crore with EPS of Rs3.56. It has re-
cently completed buyback offer. It paid 50% dividend for 2017. It provides services to banking and
financial services. The IT sector has not performed well but now the stocks have been in attractive
range, so value buying is witnessed from funds. The stock can be good option for small investment
in phased manner.
VRL Logistics (Rs362.00) (Code:539118) :- The company was setup in 1976 as
commercial logistic company and passenger logistic was started in 1996. In June quarter, the
company's income increased from Rs458.65 crore to Rs491.87 crore, while profit increased from
Rs26.47 crore to Rs33.74 crore. It has presence in 28 states and 4 UTs with fleet of more than
4000 vehicles. It may get benefitted from implementation of GST. The promoters were vying the
option of entry in aviation sector, which resulted in correction in stock prices. However, the promot-
ers have dropped the idea so Reliance Mutual Funds bought a considerable stake in the com-
pany. It seems to be a safe bet.
Disclosures as per SECURITIES AND EXCCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may have investment in this
Financial Weekly

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

E-mail : [email protected]
What is support now ?

Last week up to Wednesday we witnessed fall of 1200 points in just four sessions. On last
day of F&O, Thursday after high volatility market was up by 120 points. Nifty also surged by
33 points. Monday being holiday in the market, traders were not willing to carry forward short
positions. So short covering continued on Friday.
It's really FIIs v/s. DIIs, FIIs are continuously selling stocks. Rupee is coming down against
dollar is also sign of concern. The crude price in international market is up. We are paying
very high price for fuel. Our inflation is going up. BJP leader Yashwant Sinha has criticized
his own party for economic set back. We do not like to go in to details but he said that if GDP
is calculated on old formula NDA has changed formula two and half years back our GDP will
be only 3.5.this is very alarming for growth of our country. Nifty has very important support at
9685 level. If market remains above this level, there is no severe decline.9880/9890 are
resistance levels. Index should crossed and close above 34450.
There are following stocks which are looking weal. On any rise short position can be built.
ICICI Bank, PNB, India bulls Housing Finance, NMDC, Maruti, Adani port can be sold around
Rs.377/78 with Rs.2 as s/l.
After MRF crashed by rs.1000, ceat Tyre also looking weak. Jsw should close above
rs.245 for up trend. Tata moors has support around Rs.395.on rise sale. Asian paint can be
bought around Rs 1100 with rs.20 as s/l. One old company super spinning mill is traded
around rs.15 looks good for investment with s/l at Rs 12.5. The trend wll be decided on
Tuesday
Financial Weekly

INVESTMENT
Investment Ideas telegram.me/rupeegains7
As per ASTRO TECHNO view Some Super Duper

3 October, 4 October, 6 October Recommendations in last one year…
and 9 October are very impor- Stocks Rec. High (%)
tant turning and crucial dates for Rate After
market. Recco.
GOA CARBON 140.45 475 238%
NIFTY BHARAT SEATS 64.65 201.3 211%
NATH BIO 148 459 210%
For nextweek NIFTY has SAKUMA EXPORTS 70 169 141%
strong support around 9685 lev- TALBROS ENG 306 692 126%
els. Break will take it to 9640/ KOLTEPATIL 102.5 216 111%
HILTON METAL 26 54 108%
9590 levels. On the upper side MEGHMANI 44.4 88.45 99%
NIFTY will face strong hurdle at SORIL HOLDING 33.55 66 97%
9860 levels, cross over with vol- ONWARD TECHNO 75 140.4 87%
HISAR METAL 50 91.75 84%
ume and close above will create LKP FINANCE 80.45 147.5 83%
short covering at take NIFTY up JMC PROJECT 246.45 450 83%
to 9920/9960 levels… GRAUER & WEIL 40 72 80%
BNK CAPITAL 67.4 120.5 79%
BANK NIFTY ROYAL ORCHIED 86 150.7 75%
GTN TEXTILE 17.4 29.5 70%
For next week BANK NIFTY PHYTOCHEM 51.55 85 65%
has strong support around 23825 FRONTIER SPRING 72 114.95 60%
INDIA GLYCOL 181.6 274.25 51%
levels. Break will take it to 23620/ VIMTA LAB 109 164.3 51%
23525levels. On the upper side EON ELECTRIC 64 95 48%
BANK NIFTY will face strong KILBURN ENG 63.45 93.5 47%
JINDAL SAW 84 123 46%
hurdle at 24230 levels, cross over FRESHTROP FRUIT 104 151.95 46%
with volume and close above MANKASIA COATED 10.65 15.5 46%
will create short covering at take RDB RASAYAN 47 68 45%
SREE RAYALASEEMA 30.3 43.65 44%
BANK NIFTY up to 24365/24400 AJMERA REALTY 177.2 252 42%
levels… INDO AMINES 77.2 108.5 41%
To get free information for trading, investment, MUNJAL AUTO 54.5 76.35 40%
IPO, SME IPO join with my telegram ID VINYL CHEM 70.75 97 37%
"TELEGRAM.ME/RUPEEGAINS7". Also inform your GUJ SIDDHI CEM 30.1 41 36%
friends/relatives who are interested in stock market
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& want to create wealth from stock market to join my
telegram id "TELEGRAM.ME/RUPEEGAINS7". For RCF 79 106.5 35%
that in your mobile download app TELEGRAM & then PATSPIN INDIA 23 31 35%
in search type RUPEEGAINS7 & then click on join. GMR INFRA 16.6 22 33%
RUPEEGAINS7 - CROSS ANOTHER MILE- DYNAMIC IND 71 93 31%
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VIPPY SPINPRO 53.55 61.4 15%
Cont....
Financial Weekly

INVESTMENT
SHORT TERM to MEDIUM TERM

INVESTMENT IDEAS…
Last week we has recommended NAGREEKA EXPORTS @ Rs.29.30, it zoomed to Rs.37.40
levels and recorded almost 28% appreciation…
MOLD-TEK TECHNOLOGIES LTD (526263 & NSE) (51.4) (Face Value
Rs.2) :- Hyderabad-based Mold-Tek Technologies Ltd (MTTL) is aleading Engineering Ser-
vices company that specializes inproviding IT, Civil, Structural and Mechanical Engineeringservices
to its clients across the globe. It has two subsidiariesin USA ? CrossRoads Detailing Inc. and RMM
Global Inc. Itserves 200+ clients in varied verticals across North America,Europe, Asia Pacific and
the Middle East. It helps clients cutdown design and development costs of Civil,
Structural,Mechanical and Plant design engineering projects by 30-40%and delivers technologi-
cally superior output through its inhouse software development team, quality control trainingand
troubleshooting facilities.MTTL is the only listed and well-established civil engineering services
company in India. It is the fastest growingmechanical engineering services provider with core ex-
pertise in Automotive, Poles and Towers and Oil & Gas. It hasentered the most potential cloud
services business and is reaping benefits in the EU and US markets. It is one of the twosilver
partners of salesforce in South India and the only SKUID partner for the entire EU and Asia. With
such an edgeover other outsourcing firms, its IT division has developed a client base of 100+ in
just 2 years.MTTL has an equity capital of Rs.5.41 crore supported by reserves of Rs.29.23 crore.
The promoters hold 49.42% of theequity capital, which leaves 50.58% stake with the investing
public.It reported steady numbers for Q1FY18 with 13% higher PAT at Rs.1.51 crore (up 50%
QoQ) on 26% higher income of Rs.17.52 crore fetching an EPS of Re.0.56.
Recent Announcements: MTTL is opening a new office in Chennai. It has also expanded to a
100-seater capacity in Vijayawada. It is also in discussion with other structural engineering ser-
vices companies in North America for possible acquisitions/ joint ventures to enhance its opera-
tions in civil engineering. It is continuously adding large and medium-sized clients while improving
efficiencies in its production centers. Its mechanical engineering services segment has started
offering professional engineering services to industrial equipment and commercial bus/rail coach
industry segments in addition to automobile engineering services in Europe and North America.
MTTL's IT division's prospects are improving. While PAT in FY17 declined due to losses in the IT
division, MTTL aims to cross the breakeven point in this segment in FY18 with fixed long-term
client contracts. MTTL hopes to post better performance in near future based on the improving
Financial Weekly

INVESTMENT
prospects of all its divisions.
Investorscan buy this stock with a stop loss of Rs.48. On the upper side, it could zoom to Rs.63-
70 levels in the medium-term…
AKAR TOOLS LTD (530621) (107.65) (Face Value Rs.10) :- Incorporated
in 1989, Aurangabad based Akar Tools Limited manufactures and sells hand tools, auto leaf springs,
parabolic springs, and commercial automotive forgings in India. The company offers spanners,
such as open-ended jaw, ring, and combination spanners; carpenter/striking tools, including pin-
cers and tin cutters, striking tools, planes, and T-bar cramps and saws; and leather tool aprons. It
also provides automotive/construction tools comprising vices, chisels, clamps, hacksaws, lubricat-
ing tools, tubular box spanners, bearing pullers and punches, and wrecking bars and nail pullers,
as well as pipes, wheels, and filter wrenches; packaging products; and electrical tools, such as
pliers, screw drivers, and electronic and surgical tools. The company also exports its products to
Europe, the United States, Japan, Australia, and other countries worldwide. Ashok Leylend, BAJAJ
Auto, BHEL, Force Motor, TATA Motor, Mahindra, Kirloskar, Piaggio, Greaves etc. are the main
clients of the company.
It has an equity base of just Rs.5.39crore that is supported by huge reserve of around
Rs.22.12crore. The Promoters hold 73.06% while the investing public holds only 26.94% stake in
the company.
For FY17, ATL's PAT jumped 42% to Rs.2.62crore from Rs.1.84crore in FY16 on higher sales
of Rs.189.82crore fetching an EPS of Rs.4.86. During Q1FY18, it has reported PAT of Rs.0.60crore
on sales of Rs.45.76crore fetching an EPS of Rs.1.12. Currently, the stock trades at a P/E of just
22x. It is regular dividend paying company. Company has declares 11% dividend for FY17 and
announce the sub-division of equity shares of the company from Rs.10 to Rs.5.
Stock is looking highly attractive at CMP. Stock has given rounding bottom break out on long
term chart which is bullish in its nature. Investors can buy this stock with a stop loss of Rs.90. On
the upper side, it could zoom to Rs.135/150 levels in the medium…
BANG OVERSEAS LTD (532946 & NSE) (33) (Face Value Rs.10) :- Incorpo-
rated in 1992, Mumbai based BAGN OVERSEAS LTD offers men's formal and casual wear under
the Thomas Scott, Italian Gold, Hammersmith, Bang & Scott, Bang Europa, and FCC brand names.
The company's share book value works out to
Rs.54.21 and its P/BV ratio stands at just 0.63x, which is attractive
It had reported loss of Rs.17.09crore in FY14, loss of Rs.5.59crore in FY15, profit of Rs.1.14crore
in FY16 and profit of Rs.5.50crore in FY17.It reported superb numbers for Q1FY18 with 57% higher
Financial Weekly

INVESTMENT
PAT at Rs.1.67 crore (PAT of Rs.1.67crore against loss of Rs.0.21croreon QoQ basis). Above
figures clearly indicates that company is posting fantastic numbers on year on year.
Its all-time high rate is Rs.309. Buy with a stop loss of Rs.27.50. On the upper side, it could zoom
to Rs.42-45 levels in coming days…
NCL INDUSTRIES LTD (502168 & NSE) (223.7) (Face Value Rs.10) :- Incor-
porated in 1979, Hyderabad based NCL Industries Ltd operates through five segments: Cement,
Boards, Prefab Structures, Hydel Power, and Ready Mix Concrete.During Q1FY18, its net profit
soared 78% toRs.16.26 crore from Rs.9.14 crore on 17% higher sales of Rs.196.60 crore fetching
an EPS of Rs.4.43. The company paid 25% dividendfor FY17. Currently, the stock trades at a P/E
of 13x. Buy with a stop loss of Rs.200. On the upper side, it could zoom to Rs.250-275 levels in
coming days…
MAN INDUSTRIES (INDIA) LTD (513269 & NSE) (85.25) (Face Value Rs.5)
Incorporated in 1988, Mumbai based Man Industries (India) Ltd offers longitudinal submerged
arc welded line pipes for use in oil, gas, petrochemicals, fertilizers, and dredging sectors; and
helically submerged arc welded line pipes for use in oil transportation, water supply, sewerage,
agriculture, and construction, as well as for high pressure applications.
It reported steady numbers for Q1FY18with 8% higher PAT at Rs.10.07 crore onhigher income
of Rs.318.10 crore fetching an EPS of Rs.1.76. Presently, Company is having an order book posi-
tion of about Rs.1800crore, consisting of export orders worth approx. 2 lakh MTs and domestic
orders of about 1 lakh MTs, executable over a period of 9 to 12 months. It has paid 30% dividend for
FY17. Buy with a stop loss of Rs.77. On the upper side, it could zoom to Rs.100-110 levels in
coming days…
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

INVESTMENT
Primary Market - Dilip K. Shah
Seondary Market in bearish grip while primary market is on bullish wave

This week more than a dozen mainboard and SME issues are in the market
Godre Agrovet's issue of Rs1157 crore will open on October 4
Mas Fin's issue with price band of Rs456-459 crore will open on October 6 and close on October 10
IEX's mainboard IPO with offer price of Rs1645-1650 will arrive in the market on October 9
This week all eyes will be on SBI listing on October 3 and Prataap Snacks on Oct 5
Last week Capacit'e Infra listed with a bang while ICICI Lombard disappointed
SME segment's 11 issues will be in market this week, 7 from NSE and 4 from BSE
SME issues like Beta Drugs, Siddharth Edu, Tirupati Forge may witness fancy in near future
Worth Peripherals and Madhya Pradesh Today witnesses spurt after listing
How and when will be listing of Prataap Snacks and SBI Life ? What after listing?
Tirupati Forge, Siddharth Edu and Milton got good response on the first day
How will be subscription, allotment and listing of Gordrej Agrovet and Mas Fin?
New Gen Soft, Prince Pipes, CMS Infra files DRHP with SEBI
Currently Secondary and Primary Markets are moving in different directions. Secondary market
is witnessing slump while primary market is riding bullish wave. More than half a dozen SME
issues are foraying into the market and mainboard issues, sitting on the fences, are also ready to
join the band wagon.
Last week only Prataap Snacks mainboard issue was in the market. This week Gordrej Agrovet
and Mas Financial Services are entering into the market and in coming week Indian Energy Ex-
change will also enter into the market. SME issues raised total 300 crore from the market in Sep-
tember.
* IPO Listing:- Last week total 6 issues got listed.
• Mainboard IPO listing:-
Capacit'e Infra (540710) :- The issue got listed on September 25 at premium of 37%, i.e. Rs399
against price of Rs250. It went up to Rs335.65 and closed at Rs342.40 giving Diwali bonus to
shareholders. On Friday, the stock prices closed at Rs338.10. It is advisable to book profit.
ICICI Lombard (540716) :- The issue with offer price of Rs661 got listed with 1.66% discount at
Rs650 and went up to Rs694 and down to Rs638.16 before closing at Rs681.55 giving 3% pre-
mium. On Friday it closed at Rs667.50. It is beneficial for long term.
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. Godrej 4-10-17 Fresh Issue : Rs. 291.5 Cr. 450 to 460 32 Shares 105 Shares 210 Shares BSE Axis Capital 45%
Agrovet to + OFS : 565.8 Cr. (Rs. 14720) (Rs. 98490) (Rs. 196980) NSE Credit Suisse Attractive
(Book Building) 6-10-17 Total Size : Rs. 1157.30 Cr. Kotak Mah.
2. Mas 6-10-17 Fresh Issue : Rs. 233 Cr. 456 to 459 32 Shares 192 Shares 416 Shares BSE Motilal Oswal 40%
Financial to + OFS : 227.04 Eq. (Rs. 14688) (Rs. 88128) (Rs. 190944) NSE Listing Gain
(Book Building) 10-10-17 Total Size : Rs. 460 Cr.
3. Indian Energy 9-10-17 Fresh Issue : -- Cr. 1645 to 1650 9 Shares 54 Shares 117 Shares BSE Axis Bank, Next
Exchange to + OFS : 60,65,009 Eq. (Rs. 14850) (Rs. 89100) (Rs. 193050) NSE IIFL Holding,
Week
(Book Building) 11-10-17 Total Size : Rs. 1001 Cr. Kotak Mah.
Financial Weekly

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. IRIS 29-9-2017 50,04,000 Eq. 34 4000 Eq. Shares 30 %
Business 4-10-2017 (Rs. 16.01 Cr.) (Rs. 1,36,000) Wait for Listing
2. Shree Ganesh 28-9-2017 23,76,000 Eq. 36 3000 Eq. Shares 40 %
Remedies 5-10-2017 (Rs. 8.55 Cr.) (Rs. 1,08,000) Apply for Short Term
3. Siddharth 29-9-2017 31,08,000 Eq. 30 to 35 3000 Eq. Shares 35 %
Education 5-10-2017 (Rs. 11.18 Cr.) (Rs. 1,05,000) Apply for Long Term
4. Shreeji 29-9-2017 9,54,000 Eq. 130 1000 Eq. Shares 34 %
Translogistics 5-10-2017 (Rs. 12.40 Cr.) (Rs. 1,30,000) Average
NSE SME IPO

Sr Company Issue Open Dt. Issue size Offer price Minimum Rating Remark
Issue Close Dt. (Rs. Cr.) (Rs.) Applications Size %
1. Reliable 27-9-2017 26,00,000 Eq. 57 2000 Shares 27 %
Data Serv. 3-10-2017 (Rs. 14.82 Cr.) (Rs. 1,14,000) AVOID
2. Tirupati 29-9-2017 18,00,000 Eq. 29 4000 Shares 37 % Apply for
Forge 4-10-2017 (Rs. 5.22 Cr.) (Rs. 1,16,000) Mid-Long Term
3. CMM 29-9-2017 45,45,000 Eq. 40 3000 Shares 37 % Apply for
Infraprojects 4-10-2017 (Rs. 18.18 Cr.) (Rs. 1,20,000) Mid-Long Term
4. Beta Drugs 29-9-2017 22,96,000 Eq. 85 1600 Shares 42 %
4-10-2017 (Rs. 19.51 Cr.) (Rs. 1,36,000) Attractive
5. Jash Engg. 28-9-2017 40,00,800 Eq. 115 - 120 1200 Shares 33 % Avoid
3-10-2017 (Rs. 48 Cr.) (Rs. 1,44,000) (Fully Priced)
6. Omfurn 29-9-2017 18,12,000 Eq. 23 6000 Shares 36 %
India 5-10-2017 (Rs. 4.17 Cr.) (Rs. 1,38,000) Apply for Long term
7. Milton 29-9-2017 42,00,000 Eq. 34 4000 Shares 34 %
Industries 6-10-2017 (Rs. 14.28 Cr.) (Rs. 1,36,000) Risky
SME IPO Listing :- last week Madhya Pradesh Today, Worth Peripherals, Sri Krishna Metcom
got listed on NSE and Sagar Diamond got listed on BSE platform. The details are given in the
separate box.
This week's public issues :- Godrej Agrovet and Mas Financial Services are going to open this
week. In the SME segment total 11 issues, 7 from NSE and 4 from BSE platform are in to the
market. More details are given in the separate box.
* This week's Mainboard IPOs:-
Godrej Agrovet :- Godrej Group's diversified company was set up on November 25, 1991. It is
active in animal feed, crop protection, oil palm business. It has also forayed into dairy segment,
processed poultry and vegetable products. It also has wind power generation project. The funda-
mentals are strong. It is attractive from long term perspective.
Subscription :- It may get 4-6 times subscription in retail segment, while 25 to 50 times respec-
tively in QIB and HNI segments.
Allotment may be on October 12, fund unblocking and share deposition may be on October 13.
Godrej Agrovet Mas Financial Indian Energy Exchange
Retailers may apply Retailers may apply Retailers may apply
Shares Amt. Shares Amt. Shares Amt. Shares Amt. Shares Amt. Shares Amt.
32 14720 224 103040 32 14688 224 102816 9 14850 63 103950
64 29440 256 117760 64 29376 256 117504 18 29700 72 118800
96 44160 288 132480 96 44064 288 132192 27 44550 81 133650
128 58880 320 147200
352 161920 128 58752 320 146880
352 161568 36 90
59400 99 148500
163350
160 73600 384 176640 160 73440 384 176256 45 74250 108 178200
192 88320 416 191360 192 88128 416 190944 54 89100 117 193050
Financial Weekly

INVESTMENT
Share may get listed on October 13 around Grey Market Premium

IPOs Offer Price Premium Kostak Price Subject to Sauda
Rs550 to 575. It may cross Rs600 level.
Name (Rs.) (Rs.) Min.Appl.(Rs.) (Confirm) (Rs.)
Hold to get more return. SBI Life 700 36 - 38 (B)
Mas Financial Services :- Gujarat- Prataap Sn. 938 250-255 (B) -- 3000
based NBFC has 119 branches in 6 states. Mas Fin. 456 to 459 180 to 185 350
Godrej Agro. 450 to 460 112 to 115 500 2500
It has 5.30 lakh active loan accounts and IEX 1645 to 1650 -- 350 --
3200 customers. The fundamentals are SME IPOs
strong and offer is fully prized. However, Share India 41 -- 11000
volatility can be expected due to wrested CADSys (I) 70 -- -- 8800
RKEC Proj. 45 -- -- 13000
interest. Pooja West. 36 -- -- 3800
Subscription :- It may get 8 to 10 times Innovative 42 to 45 -- 1100 8500
subscription in retail segment and many Airo Lam. 36 to 38 -- -- 14500
more times in HNI and QIB segments. Siddharth 30 to 35 9400
Trident Tex. 30 -- 7600
IPO allotment may be on October 13, Tirupati Forge 29 -- -- 6800
fund unblocking on October 16 and share Do not subscribe for IPO by just seeing premium price as it may change anytime
before listing : Subscribe only considering fundamental of the Companies
deposition on October 17 and listing on
For latest grey market premium please check everyday
October 18. It may get listed around Rs625 www.smartinvestment.in
and 650 but may cross 675 to 700 due to speculative trading. It is advisable to book profit.
IEX :- Indian Energy Exchange offers electricity products in India. The issue will open on Octo-
ber 9 and close on October 11. The company will offer 6,06,50,009 shares to raise Rs1000.73
crore. More details will be given next week.
* Mainboard IPO listing:-
SBI Life :- It may get listed on October 3. Due to disappointing
Best 5 SME IPO’s of
listing of ICICI Lombard, the investors are confused. So the stock may
the Week get listed around Rs725 and 740 and may cross 750-755 level. It may
1) Beta Drugs
2) Siddhardh Education give good return in medium term.
3) Tirupati Forge Prataap Snacks :- The issue with offer price of Rs938 may get
4) CMM Infra Projects listed around Rs1125 to 1150 but may cross 1200 level in volatile
5) Omfurn India market. It is advisable to book 50% profit.
Tentative Timetable for Current IPO’s * SME IPOs:-
Tentative SBI Prataap Godrej Mas
Life Snacks Agrovet Financial BSE SME IPOs :- Iris Business,
Issue Closes 22-9-17 26-9-17 6-10-17 10-10-17 Siddharth Education, Shree Ganesh Rem-
Finalisation of Basis of Allotment 27-9-17 29-9-17 12-10-17 13-10-17
Refund / Unblocking of Fund from ASBA 28-9-17 3-10-17 13-10-17 16-10-17 edies, Shreeji Translogistics will get listed.
Credit of Equity Shares to Demat A/c.29-9-17 4-10-17 13-10-17 17-10-17
Listing on BSE / NSE 3-10-17 5-10-17 16-10-17 18-10-17
Listing Information
Co. Name BSE Code Listing Offer Listing Listing Listing Listing CMP
Date Price Price High Low DayClose 29-9-17
Madhya Pradesh Today NSE SME 29/09/17 66 70 79.2 68 79.2 79.20
W orth Peripherals Limited NSE SME 27/09/17 43 51.6 51.6 51.6 51.6 71.50
Sri Krishna Metcom NSE SME 26/09/17 55 53.95 53.95 44 49 45.00
Sagar Diamond 540715 26/09/17 45 45 48.7 39.55 44.55 36.50
ICICI Lombard IPO 540716 27/09/17 661 650 694 638.15 681.55 677.50
Capacit’e Infraprojects IPO 540710 25/09/17 250 399 399 335.65 342.4 338.10
Financial Weekly

INVESTMENT
Siddharth Edu may witness fancy and Shree Subscription Figure of SME IPOs (29-9-2017)
Ganesh Remedies may be considered for SME IPOs Day Issue Date Subscirbed (X)
Milton Industries NSE SME 1st Day Subscribed 0.78x
long term. Omfurn India NSE SME 1st Day Subscribed 0.06x
NSE SME IPOs :- Reliable Data, Tirupati CMM Infraprojects NSE SME 1st Day Subscribed 0.19x
Reliable Data Services NSE SME 3rd Day Subscribed 2.12x
Forge, CMM Infraprojects, Beta Drugs, Jash Shreeji Translogistics BSE SME 1st Day Subscribed 0.21x
Engg, Omfurn India, Milton Industries will Shree Ganesh Rem. BSE SME 2nd Day Subscribed 0.28x
IRIS Business BSE SME 1st Day Subscribed 0.00x
get listed. Beta Drugs, Tirupati Forge, CMM Jash Engg. NSE SME 2nd Day Subscribed 0.61x
Beta Drugs NSE SME 1st Day Subscribed 0.08x
Infra and Omfurn can be considered for in- Tirupati Forge NSE SME 1st Day Subscribed 0.77x
vestment. Siddharth Education BSE SME 1st Day Subscribed 0.71x
AKM Lace BSE SME Issue Closed on 22-9-17 1.14x
* Insight into upcoming issues:- R M Drip & Sprinkles NSE SME Issue Closed on 25-9-17 1.20x
Newgen Software :- It has filed DRHP to CADSys (India) NSE SME Issue Closed on 25-9-17 3.03x
Pooja Western BSE SME Issue Closed on 26-9-17 1.79x
raise Rs400 crore through fresh equity and Trident Texofab BSE SME Issue Closed on 26-9-17 7.70x
OFS. Innvovative Tyres NSE SME Issue Closed on 26-9-17 7.60x
D P Wires NSE SME Issue Closed on 26-9-17 1.55x
Prince Pipes & Fittings :- IT has filed Shree Tirupati Balajee NSE SME Issue Closed on 26-9-17 2.06x
Aarvi Encon NSE SME Issue Closed on 26-9-17 1.43x
DRHP to raise Rs800 crore, in which Rs500 Share India Securities BSE SME Issue Closed on 26-9-17 7.70x
crore will be fresh equity. Airo Lam Ltd. NSE SME Issue Closed on 27-9-17 30.86x
Vanta Biosciences BSE SME Issue Closed on 27-9-17 1.41x
CMS :- Cash management company will Mahai Technology BSE SME Issue Closed on 28-9-17 1.64x
file DRHP for Rs1000 crore issue. RKEC Projects NSE SME Issue Closed on 28-9-17 18.22x
Gold Star Power NSE SME Issue Closed on 29-9-17 1.34x
GREY MARKET
Godrej Agrovet, Prataap Snacks and SBI Life premiums volatile
Mas Fin premium and IEX subject to deals kick off
SME IPOs Airolam, RKEC and INnnovative witness fancy
Siddharth Edu, Tirupati Forge witness good response from day one increasing fancy
Grey Market has got affected by slump in Secondary market in last week. Premiums have
crumbled in mainboard issues. However, premiums and application deals have started in Mas
Fin and subject to deals kicks off in IEX issue.
Godrej Agrovet:- The premiums were at 125/130 which has come down to 112/115 and inter-
est rates are at 500.
SBI Life :- Premiums crumbled to 4/5 but now it is around 25/30.
Prataap Snacks :- The premiums came down to 190/195 but now are at 240/250 level.
Mas Fin :- The premiums were at 190-200 which has now come down to 170-180 level.
IEX :- The premiums have not started but interest rates are around 350.
SME :- Airolam, Innovative, RKEC issues have got good response so subject to rates have
spurted.
SIddharth Education issue got 21,12,000 bids out of 29,52,000 bids at cut off price of Rs35
on the first day. Subject to deals are also increasing in Trident Texfab, Share India, Tirupati
Forge.
Financial Weekly

INVESTMENT
Godrej Agrovet Main Line IPO

Opens on Oct. 4 & Closes on Oct. 6, 2017
Price Band Rs. 450 to 460 ; Listing on BSE - NSE
Investors may apply blindly in this attractive IPO for short to long term
Godrej Agrovet Ltd. (GAL) is a well diversified, research and development focused agri-business
company with operations across five business verticals i.e. animal feed, crop protection, oil palm, dairy,
and poultry and processed foods. GAL is the leading compound animal feed company in India, on the
basis of installed capacity for the financial year 2016. In Bangladesh, it's joint venture, ACI Godrej was
the fourth largest feed producer, in terms of sales volume, during the financial year 2016. It is also the
largest crude palm oil producer in India, in terms of market share, as of March 31, 2017.
To part finance its repayment/pre-payment of working capital facilities, repayment of commercial
paper and general corpus fund needs, GAL is coming out with a maiden IPO for fresh equity issue
worth Rs. 300 crore and offer for sale of Rs. 300 crore by Godrej Industries and 12300000 equity
shares under OFS by V-Science Investment Pte. Issue is being made via book building route with a
price band of Rs. 450 to Rs. 460 for a share having face value of Rs. 10 each. Company has reserved
shares worth Rs. 20 crore for eligible employees. Issue opens for subscription on 04.10.17 and will
close on 06.10.17. Total issue size is Rs. 1157 crore including pre-IPO placements. Minimum applica-
tion is to be made for 32 shares and in multiples thereon, thereafter. Post allotment, shares will be listed
on BSE and NSE. BRLMs to this offer are Kotak Mahindra Capital Co. Ltd., Axis Capital Ltd. and Credit
Suisse Securities (India) Pvt. Ltd. Kavry Computershare Pvt. Ltd. is the registrar to the issue. Having
issued initial equity at par in 1991-92, company raised further equity in the price range of Rs. 82 to Rs.
2164.41 per share. It has also issued bonus shares in the ratio of 3 for 1 in March 1994, 6 for 1 in March
2015 and 1 for 1 in March 2017. In September 2017 it issued 192901 shares at a price of Rs. 440 per
share under pre-IPO placement, thus the fresh issue size stands reduced to Rs. 291.51 crore (approx
6337390 shares) that includes reserve quota for employees. Post issue, GAL's current paid up equity
capital of Rs. 185.32 crore will stand enhanced to around Rs. 191.66 crore.
Financial Performance :- On performance front, GAL has (on a consolidated basis) posted turn-
over/net profits of Rs.3117.42 cr. / Rs. 156.56 cr. (FY14), Rs. 3325.50 cr. / Rs. 210.13 cr. (FY15), Rs.
3817.67 cr. / Rs. 261.09 cr. (FY16) and Rs. 4983.45 cr. / Rs. 274.39 cr. (FY17). For Q1 of the current
fiscal, it has reported net profit of Rs. 74.29 crore on a turnover of Rs. 1369.42 cr. It has posted an
average EPS of Rs. 10.02 and average RoNW of 23.86% for last three fiscals on a paid up equity
capital of Rs.185.13 cr. Issue is priced at a P/BV of 7.88. If we annualize latest earnings and attribute it
on fully diluted equity post issue, then asking price is at a P/E of around 30. It has no listed peers to
compare with. Issue is priced justifiably considering the diverse activities.
BRLM's Performance :- On BRLM's front, three merchant bankers associated with this issue have
handled 42 public issues in past three fiscal years out of which 11 issues closed below the issue price
on listing date.
Recommnedation : This Maiden IPO is from godrej Group after long time. It's diversified company
with strong fundamentals. Investors may apply in this attractive IPO for short to long term.
Financial Weekly

INVESTMENT
Mas Financial Services IPO

Opens on Oct. 6, & Closes on Oct. 8, 2017
Price Band Rs. 456 to 459; Listing on BSE - NSE
Valuations are fully priced, but one can apply for listing gain
Mas Financial Services Ltd. (MFSL) is a Gujarat-headquartered NBFC with more than
two decades of business operations and as of June 30, 2017, it operated across six
States and the NCT of Delhi. Its business and financing products are primarily focused on
middle and low income customer segments.
To part finance augmenting its capital base to meet future capital requirements, MFSL
is coming out with a maiden IPO of Rs. 460.04 crore via book building route with a price
band of Rs.456 - Rs. 459. Issue consists of fresh equity issue (approx 5076252 shares)
worth Rs. 233 crore and offer for sale for Rs. 227.04 crore (approx 4946405 shares) .
Issue opens on 06.10.17 and will close on 10.10.17. Minimum application is to be made for
32 shares and in multiples thereon, thereafter. Post allotment, shares will be listed on
BSE and NSE. Issue is solely lead managed by Motilal Oswal Investment Advisors Ltd.
and Link Intime India Pvt. Ltd. is the registrar to the issue. It has reserved xx shares for
eligible employees and is offering a discount of Rs.45 per share.
Financial Performance :- On performance front, MFSL has (on a consolidated basis)
posted revenue/net profits of Rs. 184.92 cr. / Rs. 33.09 cr. (FY14),Rs. 238.20 cr. / Rs.
40.80 cr. (FY15), Rs. 304.20 cr. / Rs. 51.45 cr. (FY16) and Rs. 364.70 cr. / Rs. 69.33 cr.
(FY17). For Q1 of current fiscal it has reported net profit of Rs. 23.70 cr. on revenue of
Rs.104.33 cr. For last five years it has posted CAGR of 26.3% and 25.9% in revenues and
net profits respectively. For last three fiscals, it has posted an average EPS of Rs. 13.13
and average RoNW of 23.75% on paid up equity capital of Rs. 42.96 cr. (as on 31.03.17).
BRLM's Performance :- On BRLM's front, merchant banker associated with this offer
has handled 10 public issues in the past three years out of which 3 issues closed below
the issue price on the listing date.
Recommendation : If we annualize latest earning, on Post issue fully diluted equity,
asking price is at PE of 27 & P/BV of 7.43, Valuations looks fully price, Investors may
apply for listing gain.
Financial Weekly

INVESTMENT
Reliable data NSE SME IPO

IPO Opened on Sept. 27 & Closes on Oct. 3, 2017
Offer price fixed Rs. 57; Listing on NSE - SME Emerge
Considering Very expensive offer price, better to avoid this IPO
Reliable Data Services Ltd. (RDSL) is primarily engaged in providing customized services
to various Banks, financial institutions and other manufacturing industries in the field of man-
agement services, transaction processing services, human resources services and other allied
services. Company has entered into agreement with various leading MNC and Private Sector
Banks like Standard Chartered Bank, Deutsche Bank, HSBC, HDFC Bank Ltd, ICICI Bank,
Axis Bank, Citibank and Yes Bank for providing various support services.
To part finance its capital expenditure plans, repayment of loans, working capital and gen-
eral corpus fund needs, RDSL is coming out with a maiden IPO of 2600000 equity share of Rs.
10 each at a fixed price of Rs. 57 per share to mobilize Rs. 14.82 crore. Issue opens for sub-
scription on 27.09.17 and will close on 03.10.17. Minimum application is to be made for 2000
shares and in multiples thereon, thereafter. Post allotment, shares will be listed on NSE SME
Emerge. Issue constitutes 30.23% of the post issue paid up capital of the company. Issue is
solely lead managed by Swastika Invest mart Ltd. and Skyline Financial Services Pvt. Ltd. is
the registrar to the issue. It has issued equity shares at par and has also issued bonus shares in
the ratio of 8 for 1 in March 2010 and 5 for 1 in July 2017. Post issue, its current paid up equity
capital of Rs. 6 crore will stand enhanced to Rs. 8.60 crore. Cost of acquisition of shares by
promoters is just Rs. 0.60 per share.
Financial Performance :- On performance front, RDSL has (on a consolidated basis) posted
turnover/net profits of Rs. 20.49 cr. / Rs. 1.48 cr. (Fy14), Rs. 24.72 cr. / Rs. 1.72 cr. (FY15), Rs.
26.40 cr. / Rs. 1.29 cr. (FY16) and Rs. 34.61 cr. / Rs. 1.62 cr. (FY17). Despite growth in top lines
for last two fiscals, it has seen pressure on margins. RDSL has reported an average EPS of Rs.
2.55 and average RoNW of 16.30 for last three fiscals on an equity base of Rs. 1.00 crore. Issue
is priced at a P/BV of 3.2. If we attribute latest earnings on fully diluted post issue equity then
asking price is at a P/E of 30 plus against industry composite of around 18 P/E. Thus issue is
highly priced.
BRLM's Performance :- On merchant banker's front, this is the 6th mandate from its stable
and last five listings have given between 4 to 25% gains on the day of listing.
Recommendation :- Looking to the margin under pressure & at a PE of 30 Plus. Its Offer is
overpriced. Better to avoid.
Financial Weekly

INVESTMENT
Tirupati Forge NSE SME IPO

IPO Opened on Sept. 29 & Closes on Oct 4, 2017
Offer price fixed at Rs. 29 ; Listing on NSE - SME Platform
Considering turnaround financial performance,
Apply for medium to long term
Incorporated in 2012 Tirupati Forge Ltd. (TFL) is engaged in manufacturing of closed die
forged products like auto component, bearings, gears etc and forged flanges of mild steel, car-
bon steel, stainless steel etc. based out at Rajkot, Gujarat. The company was initially set up to
cater requirements of international market mainly to US and gradually, it started exporting to
Italy, Morocco etc as well as in domestic market.
To part finance its repayment of loans, working capital and general corpus fund needs, TFL
is coming out with a maiden IPO of 1800000 equity share of Rs. 10 each at a fixed price of Rs.
29 per share to mobilize Rs. 5.22 crore. Issue opens for subscription on 29.09.17 and will close
on 04.10.17. Minimum application is to be made for 4000 shares and in multiples thereon,
thereafter. Post allotment, shares will be listed on NSE SME Emerge. Issue is solely lead man-
aged by Pantomath Capital Advisors Pvt. Ltd. and Link Intime India Pvt. Ltd. is the registrar to
the issue. Issue constitutes 30.97% of the post issue paid up equity capital of the company.
After having raised initial equity at par, it issued further equity in the price range of Rs. 11 and
Rs. 20 between June 2013 and August 2017. It has also issued bonus shares in the ratio of 22
shares for every 10 shares held in June 2017. Post issue, its current paid up equity capital of
Rs. 4.01 crore will stand enhanced to Rs. 5.81 crore.
Financial Performance :- On performance front, TFL has reported turnover/net profits of Rs.
7.04 cr. / Rs. -(0.01) cr. (FY14), Rs. 30.37 cr. / Rs. 0.70 cr. (FY15), Rs. 18.28 cr. / Rs. 0.17 cr.
(FY16) and Rs. 16.37 cr. / Rs. 0.51 cr. (FY17). TFL has posted average EPS of Rs. 1.70 and
average RoNW of 17.66% for last three fiscals on an equity base of Rs. 0.79 cr. Issue is priced
at a P/BV of 2.67. If we attribute latest earnings on fully diluted equity post issue, then asking
price is at a P/E of around 33 which is equal to industry average.
Merchant Bankers Performance : - On merchant banker's front, this is the 51st mandate
from Pantomath in last three years. Out of last 10 recent listings, 1 opened at discount, 1 at par
and the rest with 1 to 18% premium on IPO price.
Recommendation : Considering turnaround financial performance investor may apply for
medium to long term
Financial Weekly

INVESTMENT
CMM Infraprojects NSE SME IPO

Opened on 29th Sep. & Closes on 4th October, 2017
Offer price Rs. 40; Listing on NSE - SME Platform
Considering reasonable pricing, apply for medium term
Indore - Madhya Pradesh based CMM Infraprojects Ltd. (CMM) is engaged in the business
of construction and development of infrastructure projects in Buildings and Roads on contract
basis for the last ten years. Company is an Engineering, Procurement and Construction (EPC)
Company It has marked its presence over 40% of geographical spread of the country and has
undertaken and successfully completed many construction projects in India covering state of
Madhya Pradesh, Odisha, Chhattisgarh, Maharashtra, Rajasthan, Bihar, Goa, Haryana and
Uttar Pradesh.
To part finance its working capital and general corpus fund needs, CMM is coming out with a
maiden IPO of 4545000 equity share of Rs. 10 each with a fixed price of Rs.40 per share to
mobilize Rs. 18.18 crore. Issue opens for subscription on 29.09.17 and will close on 04.10.17.
Minimum application is to be made for 3000 shares and in multiples, thereon, thereafter. Post
allotment, shares will be listed on NSE SME Emerge. Issue is solely lead managed by
Systematix Corporate Services Ltd. and Link Intime India Pvt. Ltd. is the registrar to the issue.
Issue constitutes 29% of the post issue paid up capital of the company. Having issued initial
equity at par, it raised further equity in the price range of Rs. 25 to Rs. 500 from September 2016
to September 2017 and has also issued bonus shares in the ratio of 1 for 1 in December 2010,
3 for 1 in September 2017. Post issue, its current paid up equity capital of Rs. 11.13 crore will
stand enhanced to Rs. 15.67 crore. Cost of acquisition of shares by promoters ranges from Rs.
1.25 to Rs. 7.68 per share.
Financial Performance :- On performance front, CMM has posted turnover/net profits of Rs.
98.23 cr. / Rs. 1.07 cr. (FY14), Rs. 145.28 cr. / Rs. 1.93 cr. (FY15), Rs. 178.77 cr. / Rs. 2.29 cr.
(FY16) and Rs. 202.24 cr. / Rs. 6.24 cr. (FY17). Thus is has shown rising trends in top and
bottom lines. For last three fiscals, it has posted an average EPS of Rs. 3.78 and average
RoNW of 16.60% on an equity base of Rs. 2.78 crore. Issue is priced at a P/BV of 1.61. If we
attribute latest earnings on fully diluted equity post issue, then asking price is at a P/E of 10 plus
against peers trading around 19 to 26 P/E. Thus issue appears to have been priced reason-
ably.
BRLM's Performance :- On merchant banker's front, this being first mandates from its stable,
it has no track records.
Recommendation : Company's Fundamental are good, price seems reasonable apply for
medium term.
Financial Weekly

INVESTMENT
Beta Drgs NSE SME IPO

Offer priced fixed at Rs. 85 ; Listing on NSE SME Emerge
Looking to the low PE,
high RONW & Reasonable offer price ; apply for listing gain
Beta Drugs Limited (BDL) is the part of Adley Group which has decades of experience in
Pharma Industry. At BETA DRUGS, Oncology being one of the fastest growing therapy seg-
ments, sharp focus in the area is indeed a step in the right direction. BDL poised to be in the
leadership position in Oncology and want to thrive in the segment through better technology in-
licensing and innovations. BDL is a custom manufacturing and dedicated facility. Company's
Oncology unit dedicated to manufacturing of its leading anticancer cyto-toxics. It has achieved
excellence in Formulations' and Lypholization technology and strength in capacity building in
sterile liquid ampule/vial, dry powder facilities and tablets and capsules unit.
BDL's client list includes giants like Torrent Pharma, Zydus Group, Biochem, Alkem, Hetro
Healthcare, RPG Life Sciences, Panacea Drugs etc.
To part finance purchase of new plants and machinery and up gradation of existing plants/ma-
chinery, obtaining of European Union GMP registration and pharmaceutical inspections, civil con-
struction for existing manufacturing plants, general corpus fund needs, BDL is coming out with a
maiden IPO of 2296000 equity share of Rs. 10 each with a fixed price of Rs. 85 per share to mobi-
lize Rs. 19.52 crore. Issue opens for subscription on 29.09.17 and will close on 04.10.17. Minimum
application is to be made for 1600 shares and in multiples thereon, thereafter. Post allotment, shares
will be listed on NSE SME Emerge. Issue is solely lead managed by Pantomath Capital Advisors
Pvt. Ltd. and Link Intime India Pvt. Ltd. is the registrar to the issue. Issue constitutes 26.54% of the
post issue paid up capital of the company. It raised equity at par from incorporation till November
2014. Thereaftrer it issued bonus shares in the ratio of 4.9 shares for every 1 share held in July
2017 and 394500 fresh shares at a fixed price of Rs. 74 per share in August 2017. Post issue, its
current paid up equity capital of Rs. 6.34 crore will stand enhanced to Rs. 8.65 crore.
Financial Performance :- On performance front, BDL has posted turnover/net profits of Rs.
1.38 cr. / Rs. 0.02 cr. (FY14), Rs. 0.26 cr. / Rs. 0.11 cr. (FY15), Rs. 26.39 cr. / Rs. 1.13 cr. (FY16)
and Rs. 41.68 cr. / Rs. 5.18 cr. (FY17). Thus for last two fiscals it has shown improving perfor-
mance. It has reported an average EPS of Rs. 4.95 and average RoNW of 50.48% on an equity
base of Rs. 1.01 crore. Issue is priced at a P/BV of around 5.24, If we attribute latest earnings on
fully diluted equity post issue, then asking price is at a P/E of 14 plus against peers trading in the
range of 22 to 46 P/Es. Thus issue is priced reasonably.
BRLM's Performance :- On merchant banker's front, this is the 52nd mandate from its stable. Out of
last 10 recent listings, 1 opened at discount, 1 at par and the rest with 1 to 18% premium on IPO price.
Recommendation : Looking to the Low PE, High RONW, Strong fundamentals and reason-
able offer price, one cap apply for listing gain
Financial Weekly

INVESTMENT
Jash Engg. NSE SME IPO

Price band Rs. 115 to 120 ; Listing on NSE - SME Emerge
Considering fully priced offer, investors may apply for long term
Gwalior, MP based Jash Engineering Ltd. (JEL) is engaged in manufacturing of water control
gates, flap valves, knife gates valves, energy dissipating valves, water hammer control valves,
fine and coarse screens, screening conveying equipment, screening washing and compaction
equipment, industrial valves for bulk solids handling, hydro power screw generator, screw pump
and process equipment like detritors, clarifiers, clariflocculators, thickeners, decanters aerators,
trickling filters, dissolved air flotation (DAF) units, rotary drum slackers, rake classifiers, pressure
sand filters, etc. for water, water waste and effluent treatment plants.
To part finance its setting up of new manufacturing plant for proposed Unit IV on leased land,
expansion of Unit III facility, working capital and general corpus fund needs, JEL is coming out
with a maiden IPO of 4000800 equity share of Rs. 10 each via book building route with a price
band of Rs. 115 - 120 to mobilize Rs. 46.01 to 48.01 crore based on lower and upper price bands.
Issue consists of 2261198 fresh equity share issue and 1739602 shares by offer for sale. Issue
opens for subscription on 28.09.17 and will close on 03.10.17. Minimum application is to be
made for 1200 shares and in multiples thereon, thereafter. Post allotment shares will be listed on
NSE SME Emerge. Issue is solely lead managed by Systematix Corporate Services Ltd. and
Link Intime India Pvt. Ltd. is the registrar to the issue. Issue constitutes 33.80 % of post issue paid
up equity capital of the company. From incorporation till March 1999 it issued equity shares at
par. Thereafter, it raised further equity in a price range of Rs. 20 to Rs. 97.16 per share between
December 2008 and September 2012. It has also issued bonus shares in the ratio of 4 for 1 in
October 1994. Post issue, its current paid up equity capital of Rs. 9.58 crore will stand enhanced
to Rs. 11.84 crore. Cost of acquisition of shares by promoters ranging from Rs. 15.39 to Rs. 19.73
per share.
Financial Performance :- On performance front, JEL has (on consolidated basis) posted turn-
over/net profits of Rs. 113.91 cr. / Rs. 7.73 cr. (FY14), Rs. 119.82 cr. / Rs. 7.62 cr. (FY15), Rs.
121.94 cr. / Rs. 7.28 cr. (FY16) and Rs. 161.16 cr. / Rs. 10.26 cr. (FY17). For FY 15 and 16 it
witnessed pressure on margins despite improved top line and higher other income. JEL has
posted an average EPS of Rs. 9.22 and average RoNW of 11.17% for last three fiscals. Issue is
priced at a P/BV of 1.37. It has no listed peers to compare with. If we attribute latest earnings on
fully diluted equity post issue, then asking price is at a P/E of around 14. Issue appears to have
been fully priced.
BRLM's Performance :- On merchant banker's front, this is the first mandate from its stable
and has no track record.
Recommendation : It's a fully priced issue, so investors may apply for long term.
Financial Weekly

INVESTMENT
Omfurn India NSE SME IPO

Opened on Sept. 29 & Closes on Oct. 5, 2017
Offer price at Rs. 23 ; Listing on NSE SME Platform
Considering reasonable offer price, subscribe for mid- long term
Omfurn India Ltd. (OIL) is engaged in providing premium quality commercial furniture to its
customers. Company produces innovative and operational commercial furniture solutions for
all work and commercial environments. It manufactures and supply modular furniture which
broadly includes hotel furniture, office furniture, school furniture, wooden shutter doors & door
frames in terms of customized, system based or Turnkey projects throughout India. It also sup-
plies tailored outfits as per the choice of customers.
To part finance its expansion project and general corpus fund needs, OIL is coming out with
a maiden IPO of 1812000 equity shares of Rs. 10 each at a fixed price of Rs. 23 per share to
mobilize Rs.4.17 crore. Issue opens for subscription on 29.09.17 and will close on 05.10.17.
Minimum application is to be made for 6000 shares and in multiples thereon, thereafter. Post
allotment, shares will be listed on NSE SME Emerge. Issue constitutes 26.60% of post issue
paid up equity capital of the company. Issue is solely lead managed by Sarthi Capital Advisors
Pvt. Ltd. and Bigshare Services Pvt. Ltd. is the registrar to the issue. From incorporation till July
1998 it raised equity at par and has issued bonus shares in the ratio of 9 for 1 in March 2007 and
again 9 for 1 in February 2017. Post issue, its current paid up equity capital of Rs. 5.00 crore will
stand enhanced to Rs. 6.81 crore. Cost of acquisition of shares by promoters is Rs. -(0.13) per
share. (i.e. almost zero cost)
Financial Performance :- On performance front, OIL has posted turnover/net profits of Rs.
19.76 cr. / Rs. 0.76 cr. (FY14), Rs. 38.66 cr. / Rs. 1.31 cr. (FY15), Rs.43.88 cr. / Rs. 1.87 cr.
(FY16) and Rs. 28.19 cr. / Rs. 1.61 cr. (FY17). It has suffered a setback for FY 17 in top line. OIL
has posted an average EPS of Rs. 3.30 and average RoNW of 11.42% for last three fiscals.
Issue is priced at a P/BV of 0.74 (i.e. below 1). If we attribute latest earnings on fully diluted post
issue equity then asking price is at a P/E of around 9.7. As per prospectus, it has no listed peers
to compare with.
BRLM's Performance :- On merchant banker's front, this is the 33rd mandate from its stable
and out of last 10 listings 2 got listed at discount, 1 at par, and the balance 7 with a premium
ranging from 3 to 131 per cent on the day of listing.
Recommendation : Company's offer price looks reasonable. Investor may apply for me-
dium to long term.
Financial Weekly

INVESTMENT
Milton Industries NSE SME IPO

Opened on Sept. 29 & Closes on Oct 6, 2017
Offer price fixed at Rs. 34; Listing on NSE SME Emerge
Looking at Poor fundamentals &
Expensive offer price it's a risky IPO
Milton Industries Ltd. (MIL) is engaged in manufacturing of Laminates, Artificial Leather cloth
and Glass Fibre Reinforced Epoxy (GFRE) Sheets in the state of Gujarat. The company is the
manufacturer and exporter of premium quality high-pressure laminates, industrial Laminates,
laminated board, flooring laminates, artificial Leather cloth, GFRE Sheets and other allied prod-
ucts.
To part finance its working capital and general corpus fund needs, MIL is coming out with a
maiden IPO of 4200000 equity share of Rs. 10 each at a fixed price of Rs. 34 per share to
mobilize Rs. 14.28 crore. Issue opens for subscription on 29.09.17 and will close on 06.10.17.
Minimum application is to be made for 4000 shares and in multiples thereon, thereafter. Issue is
solely lead managed by Swastika Invest mart Ltd. and Skyline Financial Services Pvt. Ltd. is
the registrar to the issue. Post allotment, shares will be listed on NSE SME Emerge. Issue
constitutes 27.18% of the post issue paid up capital of the company. It has issued equity at par
and has also issued bonus shares in the ratio of 1 for 10 in October 1994, 1 for 1 in January
1995, 1 for 2 in August 1995, 1 for 5 in October 2000, 1 for 3 in December 2002 and 5 for 4 in
July 2017. Post issue, its current paid up equity capital of Rs. 11.25 cr. will stand enhanced to
Rs. 15.45 cr.
Financial Performance :- On performance front, MIL has reported turnover/net profits of Rs.
45.46 cr. / Rs. 0.74 cr. (FY14), Rs. 42.28 cr. / Rs. 0.63 cr. (FY15), Rs. 42.03 cr. / Rs. 0.22 cr.
(FY16) and Rs. 43.63 cr. / Rs. 1.15 cr. (FY17). It has posted an average EPS of Rs. 0.67 and
average RoNW of 5.81% for last three fiscals on an equity base of Rs. 5 crore. Issue is priced at
a P/BV of 2.86. If we attribute latest earnings on fully diluted equity post issue, then asking price
is at a P/E of 45 plus against industry average of 38 making it aggressively priced offer. Cost of
acquisition of shares by promoters ranges from Rs. 4 to Rs. 12.
BRLM's Performance : - On merchant banker's front, this is the 7th mandate from its stable
and last five listings have given between 4 to 25% gains on the day of listing.
Recommendation : - It's a overpriced offer. Financial performance is dismal, Bootom line
has seen roller coaster ride. PE is very high. Better to avoid this risky IPO.
Financial Weekly

INVESTMENT
IRIS Business BSE SME IPO

Offer price fixed at Rs. 34 ; Listing on BSE SME Platform
Looking at weak performance,
expensive offer better to wait for listing
IRIS Business Services Ltd. (IRIS) is a provider of software products for compliance, data
and analytics globally. It has created a name in the global RegTech Industry with its wide range
of products. Its client includes Regulators including Central Banks, Business Registries, Capi-
tal Market Regulators and Stock Exchanges. It also provides solutions to the regulated includ-
ing Corporate, Banks, Mutual Funds.
To part finance its debt repayment, product development, sales and marketing plans and
general corpus fund needs, IRIS is coming out with a maiden IPO of 5004000 equity share of
Rs. 10 each at a fixed price of Rs. 34 per share to mobilize Rs. 16.01 crore. Issue opens for
subscription on 29.09.17 and will close on 04.10.17. Minimum application is to be made for
4000 shares and in multiples thereon, thereafter. Post allotment, shares will be listed on BSE
SME. Issue constitutes 26.51% of the post issue paid up capital of the company. Issue is solely
lead managed by Pantomath Capital Advisors Pvt. Ltd. and Link Intime India Pvt. Ltd. is the
registrar to the issue. Having issued initial equity since incorporation till September 2007 at par,
it raised further equity in the price range of Rs. 30.30 to Rs. 85.41 per share between March
2010 and June 2011. It has also issued bonus shares in the ratio of 5 for 1 in March 2010 and 1
for1 in September 2017. Post issue its current paid up equity capital of Rs. 13.88 crore will
stand enhanced to Rs. 18.88 crore.
Cost of acquisition of shares by promotes is shown as Rs. 0.13 per share for one director and
for others it has shown NA remark.
Financial Performance :- On performance front, IRIS has (on a consolidated basis) posted
revenue/net profits of Rs. 68.46 cr. / Rs. 8.90 cr. (FY14), Rs. 56.33 cr. / Rs. 2.95 cr. (FY15), Rs.
32.91 cr. / Rs. - (7.54) cr. (FY16) and Rs. 27.54 cr. / Rs. - (9.64) cr. (FY17). Thus for last four
fiscals its top line is declining and past two fiscal it has incurred heavy losses. For last three
fiscals it has posted an average negative EPS of Rs. 4.93 and average negative RoNW of -
32.80% on an equity capital of Rs. 6.94 crore. Issue is priced at a P/BV of 2.32. Looking at
empty coffins and poor performance with negative earnings, issue is highly priced as it has
negative P/E. As per prospectus details, it has no listed peers to compare with.
BRLM's Performance : - On merchant banker's front, this is the 53rd mandate from its stable.
Out of last 10 recent listings, 1 opened at discount, 1 at par and the rest with 1 to 18% premium
on IPO price.
Recommendation : Looking at weak fundamentals, negative earning & expensive offer bet-
ter to wait for listing.
Financial Weekly

INVESTMENT
Shree Ganesh Remedies BSE SME IPO

Offer price at Rs. 36 ; Listing on BSE SME
Considering reasonable offer but dismal performance
apply for long term
Incorporated in 1995 Shree Ganesh Remedies Ltd. (SGR) is engaged in manufacturing
and dispatch of drug intermediates and chemicals like amine hydrochloride and specialty
fine chemicals for pharmaceutical industry.
To part finance setting up of choloro compound derivatives manufacturing plant, gen-
eral corpus fund needs, the company is coming out with a maiden IPO of 2376000 equity
share of Rs. 10 each at a fixed price of Rs.36 per share to mobilize Rs.8.55 crore. Issue
opens for subscription on 28.09.17 and will close on 05.10.17. Minimum application is to
be made for 3000 shares and in multiples thereon, thereafter. Post allotment, shares will
be listed on BSE SME. Issue is solely lead managed by Fedex Securities Ltd. and Bigshare
Services Pvt. Ltd. is the registrar to the issue. Issue constitutes 26.48% of the post issue
paid up capital of the company. From incorporation till May 2008 it raised equity at par,
thereafter; it raised further equity in the price range of Rs. 22.81 to Rs. 70 per share and
has also issued bonus shares in the ratio of 5 for 1 in August 2017. Post issue its current
paid up equity capital of Rs. 6.60 crore will stand enhanced to Rs. 8.97 crore.
Financial Performance :- On performance front, SGR has reported turnover/net prof-
its of Rs. 19.13 cr. / Rs. 3.21 cr. (FY14), Rs. 16.99 cr. / Rs. 1.27 cr. (FY15), Rs. 15.88 cr.
/ Rs. 1.08 cr. (FY16) and Rs. 20.32 cr. / Rs. 2.61 cr. (FY17). Thus it has shown inconsis-
tency in top and bottom lines for last four fiscals. It has posted an average EPS of Rs.
2.85 and average RoNW of 12.14% on an equity capital of Rs. 1.10 crore. Issue is priced
at a P/BV of 2.81. If we attribute latest earnings on fully diluted equity post issue, then
asking price is at a P/E of around 12 plus against peers trading in the range of 23 to 49 P/
E. Thus issue is priced justifiably, but inconsistency in performance raises concern.
BRLM's Performance: - This the first mandate from Fedex Securities Ltd and it has no
track record.
Recommendation : Offer price is reasonable but looking to the Dismal financial perfor-
mance, one can apply for long term.
Financial Weekly

INVESTMENT
Siddharth Education Services BSE SME IPO

Offer price at Rs. 30 to 35 ; Listing on BSE SME Platform
Considering bright future of education &
Farming apply for short - Mid Term
Siddharth Education Services Ltd. (SESL) is running Siddharth Academy that is training
young talents to attain professional qualifications like Company Secretary, Chartered Accoun-
tant and Cost and Management Accountant. Currently SESL has 4 (four) Company operated
centres and has a team of 22 faculty members. A partnership arm of the group is engaged in
farming segment.
To part finance its new coaching center establishing, digital marketing and online training,
acquisition of human resources training centers, general corpus fund needs, SESL is coming
out with a maiden IPO of 3108000 equity share of Rs. 10 each with a book building process
with a price band of Rs. 30-35 to mobilize Rs. 9.32 cr. to Rs. 10.88 cr. based on lower and upper
price bands. Issue opens for subscription on 29.09.17 and will close on 05.10.17. Minimum
application is to be made for 4000 shares and in multiples thereon, thereafter. Post allotment,
shares will be listed on BSE SME. Issue is solely lead managed by Gretex Corporate Services
Pvt. Ltd. and Karvy Computershare Pvt. Ltd. is the registrar to the issue. The issue will consti-
tute 26.79% of the post issue paid up equity share capital of the company. From December
2005 to March 2013 it issued equity shares at par. Thereafter from September 2013 to August
2017 it issued further equity in a price range of Rs. 10 to Rs. 30. It has also issued bonus shares
in the ratio of 1 for 1 in August 2017. Post issue, SESL's current paid up equity capital of Rs.
8.49 crore will stand enhanced to Rs. 11.60 crore.
Financial Performance :- On performance front, SESL has (on a consolidated basis) re-
ported total income/net profits of Rs. 3.69 cr. / Rs. 0.65 cr. (FY16) and Rs. 5.23 cr. / Rs. 1.04 cr.,
(FY17). It has posted an average EPS of Rs. 1.22 and RoNW of 17.62% for last two fiscals on
an equity base of Rs. 3.21 crore. Issue is priced at a P/BV of 3.5. If we attribute latest earnings
on fully diluted equity post issue, then asking price is at a P/E of 39.
BRLM's Performance : - On merchant banker's front, this is the 6th mandate from its stable.
Out of last 5 listings, one opened with around 4% premium, 1 at par and 3 at discount on the day
of listing.
Recommendation : Considering government focus on Education and forming sector & bright
future, investors may apply for short to medium term in this IPO.
Financial Weekly

INVESTMENT
Shreeji Translogistics BSE SME IPO

Offer price at Rs. 130; Listing on BSE SME Platform
It's fully priced but considering prospects of
Logistic sector apply for mid - long term
Incorporated in 1994. Shreeji Trans logistics Ltd. (STL) is a Pan-India surface logistics
and parcel delivery service provider. It has grown into an integrated national logistical
solution provider, catering a wide range of logistical requirements from Import-Export
Container movement to local parcel delivery.
STL owns and operates a strong fleet of commercial vehicles consisting of 229 owned
trucks (as on July 31, 2017) and more than 500 outsourced trucks. The company serves
a broad range of industries, including the fast moving consumer goods (FMCG), white
goods, food, textiles and apparel, furniture and fixture, pharmaceutical, plastics and metal.
To part finance working capital and general corpus fund needs, STL is coming out with
a maiden IPO of 954000 equity share of Rs. 10 each with a fixed price of Rs. 130 per
share to mobilize Rs. 12.40 crore. Issue consists of 204000 equity shares as a fresh
issue and 750000 equity shares by offer for sale. Issue opens for subscription on 29.09.17
and will close on 05.10.17. Minimum application is to be made for 1000 shares and in
multiples thereon, thereafter. Post allotment, shares will be listed on BSE SME. Issue is
solely lead managed by Aryaman Financial Services Ltd. and Bigshare Services Pvt. Ltd.
is the registrar to the issue. Issue constitutes 27.30% of the post issue paid up capital of
the company. Its entire equity is issued at par. It has also given bonus in the ratio of 5 for
2 in September 2016. Post issue, its current paid up equity capital of Rs. 3.29 crore will
stand enhanced to Rs. 3.49 crore.
Financial Performance :- On performance front, STL has posted revenue/net profits
of Rs.81.41 cr. / Rs. 0.23 cr. (FY14), Rs.93.16 cr. / Rs. 0.47 cr. (FY15), Rs. 88.46 cr. /
Rs. 1.04 cr. (FY16) and Rs. 87.75 cr. / Rs. 1.58 cr. (FY17). Thus while its top line has
shown declining trends for past two fiscals, its bottom line has shown rising trends. It has
posted an average EPS of Rs. 3.69 and average RoNW of 8.68% for last three fiscals.
Issue is priced at a P/BV of 2.92. If we attribute latest earnings on fully diluted equity post
issue, then asking price is at a P/E of around 28.7 against industry average of around 26.
Thus issue is fully priced.
BRLM's Performance : - On merchant banker's front, this is the 17th mandate from its
stable in past three fiscals. Out of last 10 listings, 2 opened at a discount to offer price,
rest opened with 0.01% to 20% premium to issue price.
Recommendation : - IPO is fully priced but looking to the prospects of Logistics
sector investors may apply for mid to long term.
Financial Weekly

INVESTMENT
Smart Best Buy S. N. Zaveri
Godrej Industries will rally as its Subsidiary goes public

Shoppers Stop’s tie-up with Amazon is amazing : Buy
Maruti Suzuki : Up, Up and Up
Hatsun Agro : Huge expansion on card
NBCC : PSU Navratna with strong orderbook
Godrej Industries (Rs. 587.00) (Code : 500164) (F. V. : 1.00) : Godrej Industries Limited (GIL),
has reaped huge dividends from its investments across various businesses like FMCG (fast mov-
ing consumer goods) and property development by taking them public. Following the strategy, GIL
is now taking its agri business subsidiary Godrej Agrovet (63.7 percent stake) public. Godrej Agrovet
has come out with an IPO and has fixed price band of Rs.450-460 per share.Godrej Agrovet Lim-
ited, a diversified farm-to-fork play, has interest in animal feed, crop protection, dairy and oil palm
business. It has some interesting partnership in promising areas that can create long-term value.Each
business segment Godrej Agrovet operates in is either under-penetrated (animal feed) or in high
growth areas (dairy, poultry, agri-inputs). So, it will benefit immensely to parent GIL. It also derives
substantial revenue from its listed subsidiaries-Godrej Consumer Products Ltd and Godrej Proper-
ties. So, there is huge value in this stock. Buy. Buy more at any decline.
Shoppers Stop (Rs. 484.00) (Code : 532638) (F. V. : 5.00) : World’s retail giant Amazon.com
NV Investment Holdings LLC will invest Rs. 179.25 crore in Indan retail giant Shoppers Stop.
Shoppers Stop’s board has approved issuance of 43.95 lakh equity shares of Rs. 5 each at price of
Rs. 407.78 per piece to Amazon.com NV Investment Holdings LLC for Rs. 179.25 crore on prefer-
ential basis in a meeting held last week. The board has also proposed to hold an extra ordinary
general meeting of the company on October 18, 2017 to seek approval of the shareholders. Shop-
pers Stop’s presence is robust primarily in metros and other commercially big cities across India.
However, its supply network in the tier 2/3 regions of the country is relatively small. There comes
Amazon to help it. Also, the company can take a leaf out of Amazon’s book by learning to manage
its inventory procurement and disbursement processes far more effectively.In addition, Amazon
will offer an exclusive space on its webpage for Shoppers Stop’s products, thus enhancing the
visibility of the latter’s products and aiding top-line growth.Shoppers Stop’s in-house brands are
likely to garner better consumer interest as well. The stock has spurted after this announcement.
Buy.
Maruti Suzuki (Rs. 7973.00) (Code : 532500) (F. V. : 5.00) :- Several multinational brokerage
houses, including Morgan Stanley, Goldman Sachs, CLSA and Jefferies, have their target price
north of Rs 9,000 for the stock, which is much higher from current market price. Maruti's monthly
run-rate of the volumes in the past two months has been around 165,000 units, or 26 per cent
higher than the monthly run-rate of the previous quarter. Normalised wholesale volumes -vehicles
that the company has sent to dealers -after the GST transition and channel filling by the dealers
ahead of the festivals are expected to improve volume growth. The operating margin has potential
to reach a record high in the next two years, once the utilisation rates at the new manufacturing
plant in Gujarat picked up. Meanwhile, Maruti has unveiled a new version of its S-Cross model,
anticipating a 10-20% rise in sales of its ‘cross-over’ vehicles.The new model will replace the S-
Cross unveiled in August 2015 as the first premium offering from the company’s retail channel
Financial Weekly

INVESTMENT
NEXA. The car will be available across the country in the next couple of days.Buy this stock at
current level and at decline.
Hatsun Agro (Rs. 694.00) (Code : 531531) (F. V. : 1.00) :- products segment focuses on milk,
curd, Ice creams, Paneer, Butter, cattle feed etc. as these segment have potential to grow. With the
stable brand portfolio currently, Hatsun plans to diversify the portfolio into healthy, tasty and ready
to eat foods. The company’s focus on strengthening ice-cream and curd businesses and the start
of the demand season from January; growth in cattle feed and also liquid milk, which saw growth in
volume and some price increase, have all contributed to the strong performance.Meanwhile, Hatsun
Agro has ropped in German company for its Channai plant. Germany-based packaging equipment
manufacturer Windmoller and Holscher has bagged a Rs.65 crore order to commission machines
at Hatsun Agro Products upcoming greenfield unit near Chennai.Net profit of Hatsun Agro Product
rose 18.76% to Rs 35.19 crore in the quarter ended June 2017 as against Rs 29.63 crore during
the previous quarter ended June 2016. Sales rose 12.76% to Rs 1168.74 crore in the quarter
ended June 2017 as against Rs 1036.51 crore during the previous quarter ended June 2016.
Invest.
NBCC (India) (Rs. 212.00) (Code : 534309) (F. V. : 2.00) :- NBCC has recently won new order
worth Rs 464 crore.Its orderbook has seen huge jump. The company has signed an agreement
with Ministry of Health & Family Welfare, Government of India for planning, designing & construc-
tion of expansion of Sports Injury Centre, New Delhi amounting Rs 464 crore.NBCC (India), a
blue-chip Government of India (GoI) Navratna enterprise under the Ministry of Urban Develop-
ment, is present in three segments of operations including project management consultancy (PMC),
real estate development and EPC contracting. The GoI held 75% stake in the firm (as per
shareholding pattern as on 30 June 2017).On a consolidated basis, net profit of NBCC (India) rose
25.69% to Rs 59.16 crore on 0.76% rise in net sales to Rs 1548.90 crore in Q1 June 2017 over Q1
June 2016. The stock, after hitting 52-week high of Rs.229 on 21st September, has corrected a bit
in an overall market correction. The stock is trading at Rs.212. Buy. Buy more at decline.
(SEBI Registered Research Analyst)

* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month • All stocks rates / indices on
29th September 2017 unless specified o Stoploos is useful for Short - Medium term investors only
* Disclaimer :- • Smart Investment will not be responsible / for any loss arising out of investment based on its recommendation. • Though,
every care has been taken, we will not responsible for any errors / omissions o All disputes are subject to Ahmedabad jurisdictioner
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Financial Weekly

INVESTMENT
Dalal Street Whispers - Dilip K. Shah
City Union Bank (Rs. 162.00) (Code: 532210) :- A top brokerage is highly bullish on this stock,
and has recommended a 'Buy' projecting 20 to 25% returns in the short to medium term.
Tourism Finance (Rs. 142.00) (Code: 526650) :- The company is engaged in financing hotel
projects, multiplexes, restaurants, and other projects. There is current in the stock after 1.94 crore
shares worth Rs. 293 crores changed hands in block deals.
Amsons Apparels (Rs. 7.21) (Code: 538861) :- This commercial trading and distribution com-
pany is foraying into agro-based business as a part of its diversification. It is also likely to change
its name accordingly.
HCC (Rs. 34.00) (Code: 500185) :- As a part of debt restructuring deal, the company has reached
an agreement with lenders of its Lavasa project to convert debt into equity. Movement can be seen
in the stock.
Ashiana Housing (Rs. 166.00) (Code: 523716) :- The company has entered into an agree-
ment with a Pune-based developer for developing a project spread over 19 acres. A lot of move-
ment can be seen on the counter.
Ruchi Soya (Rs. 24.00) (Code: 500368) :- The share price has jumped on the back of three-
time increase in trading volumes. Reports say that the company has entered into an agreement
with Patanjali Ayurved to sell Patanjali edible oils and the entire range.
Monnet Ispat (Rs. 29.00) (Code: 513446) :- According to reports from Mumbai, a leading PE
player is keen on acquiring controlling stake in this debt-laden company.
Den Network (Rs. 89.00) (Code: 533137) :- Market reports suggest that Reliance Industries is
keen to take over this company, and the deal talks are in advanced stages.
JSPL (Rs. 134.00) (Code: 532286) :- The company's board will meet on October 3 to decide on
issue of shares on preferential basis.
TBZ (Rs. 114.00) (Code: 534369) :- Jewellery shares are shining in the run-up to Diwali. Gold
sales are expected to surge this year on Dhan Teras.
Sahyadri Ind. (Rs. 169.00) (Code: 532841) :- Market buzz suggests a major announcement by
the government on October 3. This building construction materials company is expected to benefit
from this. Companies such as Everest Industries and Shankara Building too will gain.
Shreyas Shipping (Rs. 441.00) (Code: 520151) :- The company is set to buy a new vessel in
the coming days. Moreover, the Baltic Index has been on the rise too. SCI, which is also in ship-
ping sector, is also seen benefiting.
JK Tyre (Rs. 146.00) (Code: 530007) :- Tyre shares had crashed due to spurt in crude oil
prices. However, crude oil prices have started to decline. Moreover, natural rubber prices are also
declining. This will benefit tyre companies like JK Tyre, Apollo Tyre, Ceat, MRF, etc.
Financial Weekly

INVESTMENT
High Risk High Return Shares - Dilip K. Shah
Dr. Reddy's (Rs. 2,329.00) (Code: 500124) :- This pharma company has received the Estab-
lishment Inspection Report for its formulations facility at Andhra Pradesh from US FDA. This will
have a positive impact on the stock.
TCS (Rs. 2,437.00) (Code: 532540) :- The stock was the top gainer last Wednesday. It is ex-
pected to benefit significantly from a weakening rupee. Experts say that revival can be expected in
the financial services vertical, which will help the company.
GAIL (Rs. 419.00) (Code: 532155) :- PNGRB has recently proposed uniform gas transmission
tariffs. The tariff is Rs. 2 per standard cubic metre of gas, and it has proposed 60% increase in that.
CYIENT (Rs. 508.00) (Code: 532175) :- Leading funds such as Birla Sunlife, DSP Blackrock
and Global Pension Fund have acquired 77 lakh shares in this company in the past few days.
Current can be seen in the stock.
Coal India (Rs. 270.00) (Code: 533278) :- A leading Mumbai broker believes that the stock has
bottomed out, and he is highly bullish on Coal India. He has recommended a 'Buy' with a target
price of Rs. 300.
VIP Industries (Rs. 250.00) (Code: 507880) :- Demand for its products is expected to up ahead
of Diwali and Christmas holiday season.
Petronet LNG (Rs. 231.00) (Code: 532522) :- Market reports suggest that the company will
increase prices by 12 to 15% from October 1. This will have a positive impact on its margins.
Lovable Lingerie (Rs. 244.00) (Code: 533343) :- The company's board will meet on October 6
to decide on share buyback proposal. The stock is likely to outperform.
Escorts (Rs. 659.00) (Code: 500495) :- This tractor and agro products manufacturer is getting
the benefit of lower tax under GST. It is also expected to report strong sales numbers for the month
of September.
UPL (Rs. 777.00) (Code: 512070) :- Fancy can be seen in the shares of UPL as well as Bajaj
Finance due to the change in Nifty Index.
Persistent Systems (Rs. 79.00) (Code: 533179) :- This IT company gets 80% of its income
from US. The company is seen benefiting tremendously from a weakening rupee.
ONGC (Rs. 170.00) (Code: 500312) :- Natural gas price is expected to be revised from $2.24
per mmBtu to $2.8 per mmBtu, a first hike in over two years. This will benefit oil producer compa-
nies like ONGC.
Godrej Properties (Rs. 619.00) (Code: 533150) :- This Godrej Group company has
launched a new project in Bangalore and it is getting good response.
BPCL (Rs. 472.00) (Code: 500547) :- Crude oil prices have stabilised after rising for several
days. The stock has underperformed for the past few days, but a pullback rally can be expected.
Financial Weekly

INVESTMENT
Senior Astrologer
Dharmesh Joshi
Mob. : 9909941816
E-mail :
[email protected]
Sensex Predictions : Dt. 2nd October to 6th October
02-10-2017 Monday :- " The market will remain closed today on account of Mahatma
Gandhi Jayanti.
03-10-2017 Tuesday :- " Friends, once again Ganesha's prediction has come true.
Wherein, Nifty went down during zero weightage between the period from 12-?9-2?17 to 28-?9-
2o17. " Today from opening to 11.3? Nifty will pass time around the surface. You are likely to earn
a good profit by doing Intraday. " Between 11.3? to 15.3? do jobbing on the up side, you will be
able to do trade with a good margin in all the slots.
04-10-2017 Wednesday :- " The Moon will be in Purva Bhadrapada Nakshatra today,
which can be termed as average. " Only 2 trends are useful today, whereas the remaining period
will be uninteresting, and hence it shall be a boring day. " You are advised to deal as per your
financial capacity. " At around 1o.1o sell Nifty and at around 11.21 buy Nifty. " At around 13.13
again buy Nifty and exit on making a profit of 2 Rupees without waiting for anyone.
05-10-2017 Thursday :- " Ganesha feels that today you are likely to deal very quickly and
emotionally. " But, Ganesha cautions you from October that you should also reshuffle your portfo-
lio at the same time. " From 9.15 to 1o.15 the overall view is slightly positive. " Between 1o.15 to
11.15 Nifty will be negative. " From 11.15 to 13.4o Nifty will remain in a particular range, which can
be termed as a psychological figure. Overall, it shall be slightly on the up side. " At around 13.4o
Nifty will take a jump, and then pass time around that same figure till the end of the day.
06-10-2017 Friday :- " Ganesha feels that Media and Entertainment stocks will be more
volatile today. " Divide the period from 9.15 to 11.15 in 2 parts. Wherein, Nifty will go up in the 1st
part, and thereafter Nifty shall equally go down in the 2nd part. " During the slot from 11.15 to
15.3o, overall Nifty shall go up. Moreover, we are just providing you he sensitive points, which are
as follows. " There will be a correction in Nifty at around 12.45, 13.41, and 14.23.
Financial Weekly

INVESTMENT
News Track
MRSS India selected as "INDIA'S MOST

TRUSTED COMPANY AWARD 2017"
MRSS India was conferred with the award of the India's most trusted company of the year 2017,
Mr. Sarang PanchalManaging Director;MRSS INDIA was honored with this award. The award
ceremony was held atThe Leela Hotel,Mumbai, on 24th September,2017, by IBCINFOMEDIA .
MRSS India celebrated proud moment due to its leadership, entrepreneurship, and inspiration.
A company recognized as"MOST TRUSTED" in its industry category based on current year mar-
ket standing, innovation, leadership, governance, CSR and other such factors. Based on a com-
prehensive research conducted by IBC Infomedia, MRSS ranked for the "INDIA'S MOST TRUSTED
COMPANY AWARD 2017."
Mr. VijayShivtare(Hon'ble Minister of State for Water Resources & Parliamentary Affairs -
Maharashtra Government) &Mr. Satinder Pal Singh Ahuja (Honorary Consul of Georgia in Mumbai)
&Dr. S.N. SasidharanKartha (Managing Director - Cochin Minerals and Rutile Ltd.) graced the
awards ceremony with their presence and addressed all the winners and congratulated them.
Financial Weekly

INVESTMENT
News Track
Namboothiri products
in your home town
God's own country has its own celestial taste as honed and perfected by
'Namboothiris', a time-tested traditional brand in the preserved food category es-
tablished in 1960 by the late Sri K.N. Narayanan Namboothiri, a personality adored
by connoisseurs of good food. The celebrated Kerala brand is all set to get its
well-deserved makeover. The dynamic stewardship of Mr. Neelakandan
Nambeesan, who is promoting the brand, will expand operations to popularize
the brand and make the 'Taste of Kerala' the toast of the entire nation.
Financial Weekly

INVESTMENT
News Track
Piramal group enters

housing finance biz
Piramal, a well diversified group has launched Piramal Housing Finance Ltd.
in the first week of September to cater to rising demands for housing loans. It
has tied up with front runner developers as well as associated with channel
partners to take on this business in a big way. In just three week's time, its AUM
has reached Rs. 200 crore and eyes loan book of Rs. 15000 crore by 2020.
Financial Weekly

INVESTMENT
News Track
Clearfunds.com to offer
online MF investments
Clearfunds is an online investment advisor build on the principles of total transparency.

With the use of advance technology to harness powerful data analytics, Clearfunds will
completely democratize the investment experience thus will provide access to investors for
the best investment advice and the smoothest investment experience at the lowest possible
cost. Company is formed by veterans who have worked with renowned FIIs like JP Morgan,
Goldman Sachs. Their motto is to eliminate hidden charges, false promises and confusing
sales talks. Thus Clearfunds is helping in making investments simple and rewarding.
Financial Weekly

INVESTMENT
REVIEW OF “SMART PLUS NEWS LETTER”

Amazing 23% RETURN SMART GAIN
FOR SMART INVESTORS
Company Reccom. Weekly Ch. Company Reccom. Weekly Ch.
25-9-17 High (%) 25-9-17 High (%)
RACL Geartech 58 66 13.79 Ajanta Pharma 1212 1313 8.33
NBCC 216 223 3.24 IPCa Labs. 522 598 14.56
Bharat Bijlee 1141 1200 5.17 Glenmark 628 641 2.07
Novartis 682 698 2.35 ONGC 166 173 4.22
VST Tillers 1981 2041 3.03 Infosys 898 909 1.22
TCS 2503 2533 1.2 LUPIN 1009 1044 3.47
I.G. Petro 603 646 7.13 Reliance Ind. 817 840 2.82
M M Forging 652 668 2.45 Gabriel India 189 212 12.17
Asian Granito 492 498 1.22 Shree Rayalaseema 148 154 4.05
Va-Tech Wabag 613 633 3.26 Akar Tools 107 114 6.54
Guj. Alkali 553 570 3.07 Ashok Leyland 114.3 117 2.36
Godrej Ind. 590 608 3.05 Reliance Home Fin. 109 115 5.5
Hatsun Agro 664 719 8.28 Greaves Cotton 138 141 2.17
Sudarshan Chem. 384 401 4.43 HBL Power Systems 59.3 63 6.24
CEAT 1733 1772 2.25 Shalimar Paints 209 218 4.31
Safari Ind. 400 459 14.75 Mold-Tek Techno 51 53 3.92
Somany Ceramics 850 889 4.59 OM Metal 73 79 8.22
Coromandal Intl. 436 446 2.29 Elecon 57 58 1.75
Oberoi Realty 407 437 7.37 Tanla Solution 31 33 6.45
J K Tyres 156 160 2.56 Nagreeka Exports 30 37 23.33
TRENT 296 307 3.72 Meghmani Organics 78 83 6.41
Deepak Nitrite 172 204 18.6 Zee Media 36 37 2.78
Suprme Petro 371 383 3.23 Sintex Plastics 95.55 99 3.61
Tata Global Bev. 201.4 210 4.27 Rico Auto 96 101 5.21
Oil India 328 355 8.23 JSPL 140 151 7.86
Coal India 253 269 6.32 ITI Ltd. 139 157 12.95
Sona Koyo 105 111 5.71 NIIT Ltd. 102 111 8.82
Just Dial 385 401 4.16 JSW Energy 73 76 4.11
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Financial Weekly

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 (%) Rate (Rs.) Rate (%)
3rd June-16 J M FIN 47 56-59-65 132 181% 5th Jan 17 MAGNGALORE CHEM 48.2 55-60 82 70%
9th June-16 BAJAJ ELE 232 300 387.4 67% 6th Jan 17 INDO RAMA 34.25 36-37 42.6 24%
20th June-16 GAEL 58 75-85 153 164% 11th Jan 17 TRIDENT 62.5 75-100 92 47%
24th June-16 IOL CHEM 136 175-275 156 15% 13th Jan 17 PITTI LAMINATIONS 60 63-65 69.85 16%
1st July 16 IL&FS TRANS 78.5 95-105 124.8 59% 20th Jan 17 SUPER CROP SAFE 136 225 163 20%
7th Junly 16 NETWORK18 45.5 64-71 54.8 20% 27th Jan 17 IHTL 192 202 202 5%
15th July 16 SARDA ENERGY 141 180-200 296.2 110% 2nd Feb 17 SUBEX 10.6 13-14 12.35 17%
22nd July 16 AARTI IND 553 620-625 978 77% 6th Feb 17 BGR ENERGY 138.5 175 183.4 32%
28th July 16 MAGMA FIN 106 135-140 138 30% 6th Feb 17 LAURUS LAB 538 625 611 14%
3rd Aug 16 GARWARE WALL 453 535-540 849 87% 14th Feb 17 ATLANTA 83 105 120.45 45%
5th Aug 16 ION EXCHANGE 327 445-450 473.8 45% 16th Feb 17 PITTI LAMINATIONS 62 72-75 69.85 13%
12th Aug 16 IOL CHEM 137 175-275 156 14% 16th Feb 17 EON ELECTRIC 63.5 85-90 80 26%
18th Aug 16 SAMBANDAM SPI 113 130-140 152 35% 28th Feb 17 KWALITY 157 175-185 167.95 7%
22nd Aug 16 SUBEX 12.65 16.5-18.4 13.5 7% 1st Mar. 17 SPARC 339 370-385 357.4 5%
31st Aug 16 IDFC 58.25 70 71.3 22% 2nd Mar. 17 KOPRAN 71 83-95 102.45 44%
8th Sep 16 IRB INFRA 242 270-285 272.65 13% 8th Mar. 17 AJMERA REALTY 197 250-260 252 28%
8th Sep 16 TALBROS ENG 238 255-260 399.6 68% 10th Mar.-17 CORDS CABLE 81.5 84-86 111 36%
16th Sep 16 NOCIL 68 85 111.4 64% 15th Mar. 17 ADANI ENTER 99.5 115-120 160.7 62%
21st Sep 16 CONART ENG 40 48 58 45% 17th Mar.17 GUJ THEMIS 48 53-55 55.5 16%
23rd Sep 16 KEI IND 120.5 140-170 238 98% 17th Mar.17 SHILCHAR TECHNO 380 450-525 524.9 38%
29th Sep 16 DYNAMIC IND 60 70-75 82.9 38% 20th Mar.17 ELECTROSTEEL CAST 29.5 37-40 40.65 38%
29th Sep 16 GSFC 77 101 148.5 93% 24th Mar.17 ONWARD TECH 74.5 78-80 98.8 33%
5th Oct 16 MAGMA FIN 116 140 138 19% 24th Mar.17 AVT NATURAL 37 39.5-41 49.9 35%
19th Oct 16 JINDAL POLY 429 460-490 477 11% 29th Mar.17 SANKHYA INFO 58.5 70-75 60 3%
25th Oct 16 A2Z INFRA 40.75 50 52.65 29% 31st Mar.17 MOLD-TEK 53.5 55-56 56.8 6%
30th Oct 16 JENBRUKT PHARMA 482 700 572.5 19% 5th April-17 MTNL 25.75 31-35 27.1 5%
30th Oct 16 ADVANCED ENZ 2125 2700 2375.5 12% 6th April-17 SARDA ENERGY 258 300 277.7 8%
4th Nov 16 MAFATLAL IND 443 425-500 448 1% 13th April-17 WEIZMANN 524 560-570 648 24%
4th Nov 16 ABC BEARINGS 174 210-250 198 14% 20th April-17 COMPUCOM SOFT 17.5 19.5-20.5 18.1 3%
2nd Dec 16 MRPL 100 119-138-149 142.8 43% 21st April-17 ALEMBIC 46.7 55-61 51.7 11%
9th Dec 16 SONATA SOFT 164 195 224 37% 28th April-17 REL INFRA 595 700 620 4%
16th Dec 16 INDIA GLYCOL 137 180-200 203.9 49% 28th April-17 DAMODAR IND 95 100 99.5 5%
30th Dec 16 MADHAV MARBLE 59 64-66 79.5 35% 2nd May-17 VIPPY SPINPRO 50 55-56 47 -6%
30th Dec 16 ORIENT BEVERAGES 160 170-172 181 13% 2nd May-17 DEEP IND 332 400 343 3%
4th Jan 17 RAIN IND 56.5 70 122.8 117% 15th May-17 TALBROS AUTO 175 210 196.1 12%

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

FII Activity (Rs. Cr.)

Most Popular Webstie for the Stock Market Investors

SMART 1st October 2017 to 7th October 2017 2

Nifty & Sensex Movement during the last week

SMART 1st October 2017 to 7th October 2017 3

ACKNIT INDUSTRIES LTD

SMART 1st October 2017 to 7th October 2017 4

3. Industrial Garments Division -

SMART 1st October 2017 to 7th October 2017 5

DHARANI SUGAR & CHEMICALS LTD

SMART 1st October 2017 to 7th October 2017 6

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

More detail about Subscription

SMART 1st October 2017 to 7th October 2017 7

Objects of the Issue

Issue Details issue paid up equity capital of the com-

SMART 1st October 2017 to 7th October 2017 8

respectively. Revenue from domestic sales is 36.94% and 71.53% respectively.

Promoters of Tirupati Forge

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Key Milestones continuously increased its reserve and

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Downside Look Limited here ....

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

SMART 1st October 2017 to 7th October 2017 11

Rapid Fire Stocks

Thangamayil Jewellery Ltd. (Rs. 363.45)

JSW Energy Ltd. (Rs. 72.15)

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NIFTY LIKELY TO TEST THE 200DMA

This Weeks Recommendations

SMART 1st October 2017 to 7th October 2017 13

SMART 1st October 2017 to 7th October 2017 14

Beta Drugs Limited

founded in the year 1985. Beta Drugs Limited is a pharmaceutical

formulation manufacturing company engaged in developing, manu-

national customers. Beta Drugs is primarily engaged in the manu-

for the treatment of various cancer diseases.Company's manufacturing unit is located at

Solan, Himachal Pradesh.

SMART 1st October 2017 to 7th October 2017 15

Key Strengths products through its own sales & mar-

company and a fresh Certificate of Incorporation consequent upon change of name on

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Alkem, Hetro Healthcare, RPG Life Sciences, Panacea Drugs etc.

SMART 1st October 2017 to 7th October 2017 17

Nifty Breadth Turned Negative!

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Jignesh R Mehta (SEBI Registered Research Analyst)

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Last Recommendation Review

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Stock Buzz Subramanian Mahadevan

Elecon Engineering Company Ltd

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Siddharth Education Services