2017 January 22

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46
GAMC No. :1703/2015-17. Issued by SSP Ahd. Valid up to 31-12-2017

VOL : 9 • Issue No: 49 RNI No : GUJENG / 2008 / 24320 22nd Jan. 2016 to 28th Jan. 2017
○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○
FII Activity (Rs. Cr.)

Date Buy Value Sell Value Net Value
16-1-2017 2380.5 2727.75 -347.25
17-1-2017 3448.66 3306.45 142.21
18-1-2017 4134.43 3815.29 319.14
19-1-2017 4091.02 4223.28 -132.26
20-1-2017 4510.7 4537.04 -26.34
Total 18565.31 18609.81 -44.5
FII Activity (Rs. Cr.)
Date Buy Value Sell Value Net Value
16-1-2017 2270.61 2067.16 203.45
17-1-2017 2096.26 2703.49 -607.23
18-1-2017 2646.47 2401.44 245.03
19-1-2017 2544.6 2164.97 379.63
20-1-2017 2364.1 2539.58 -175.48
Total 11922.04 11876.64 45.4
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INVESTMENT
22nd January 2017 to 28th January 2017 3
Investment Ideas - Pratit Patel
telegram.me/rupeegains
Nifty (8349) :- For next week NIFTY has strong support around 8320/8290 levels. Break will
take it to 8225 levels. On the upper side NIFTY will face strong hurdle at 8385 levels, cross over
with volume and close above will create short covering at take NIFTY up to 8475/8510 levels…
Bank Nifty (18820) :- For next week BANK NIFTY has strong support around 18705
levels. Break will take it to 18600/18440 levels. On the upper side BANK NIFTY will face strong
hurdle at 18950 levels, cross over with volume and close above will create short covering at take
BANK NIFTY up to 19100/19330levels…
PBA Infra (24.10) :- Something is cooking in this counter. On Friday stock has given
strong upward breakout with volume before budget. One can buy with strict stop loss of Rs.22.75.
On the upper side stock will zoom up to Rs.26.5-28 levels in coming days…
Past Review
Issue Date Stock Reco. Rate Achieved Appreciation
in %
26th Dec. 16 PIX TRANS 82 122 48.8%
MUKAND LTD 49.35 76.40 54.8%
ELGI RUBBER 35.5 69.40 95.5%
10th October-16 RAMA PHOS 60 93.90 56.5%
5th September-16 PIX TRANS 52.7 122 131.5%
22nd August-16 SHREE PUSHKAR 117 201.4 72.1%
15th August-16 POLYPLEX CORP 293.3 411 40.1%
DYNAMIC PRODUCTS 65.5 159.9 144.1%
DAIKAFIL CHEM 40 80.6 101.5%
TANLA SOLUTIONS 35.5 64.4 81.4%
11th July-16 SHIVA GLOBAL 26.65 63.60 138.6%
PRAKASH IND 39.20 71.80 83.2%
SHIVALIK BIMETAL 25 57.6 130.4%
SMART
INVESTMENT
Stock for multi-bagger returns…
Super Crop Safe

(530883) (137) (Face Value Rs.10)
Incorporated in 1987, Super Crop Safe Ltd manufactures and
sells agro chemicals & bio products in India & internationally.
Company holds valid CIB registrations for 10 Technical Grade
Pesticides and more than 88 Formulations (and it will increase
YtoY) of Insecticides, Fungicides, Weedicides & Bio Products
for export & domestics sales. TheTechnical Grade Pesticides
manufacturing unit & formulation unit are located at Himatpura in
Bilodra about 65 kms away from Ahmedabad on 20,000 sq. yd.
land. Company has established distribution network for market-
ing its products in the states of Gujarat, Rajasthan, Panjab,
Hariyana, Madhya Pradesh, Maharastra and Chhattisgarh. Com-
pany is having manufacturing/formulation capacity as under.
" Technical Grade: 2400 MT per Annum

" Liquid Formulation: 25 Lac liters per Annum
" Granules Formulation: 3000 MT per Annum
" Dust Formulation: 10000 MT per Annum
New Game Changer Development For Company: In
October 2016, company has informed BSE that, com-
pany has entered in to the marketing agreement with
the "The Maharashtra Agro Industries Development
Corporation Ltd" (MAIDC) (A Government of
Maharashtra Undertaking) for sale of "Mycorrhizal Bio
Fertilizer" manufactured by the company in marketed
by arrangement. On 20 October 2016, company has
SMART
INVESTMENT
informed BSE that, company has received certificate from HACCP (Hazard Analysis & Criti-
cal Control Points), after successful inspection of manufacturing facilities of Spirulina and
Compliance with the requirement of the HACCP (Hazard Analysis & Critical Control Points).
This will facilitate the Company to expand market of Spirulina and its product mix in domestic
as well as international market. Post this certification, SCSL will be able to garner additional
business for its Spirulina based products in world market. This certification will help SCSL to
build and sustained the growth by its
Spirulina Business in coming years, by exploring the higher value added high margin
market. On 21 December 2016, company has informed BSE that, company has received
from FSSAI (Food Safety and Standards Authority of India) License after successful inspec-
tion of manufacturing facilities of Spirulina and Compliance with the requirement of the FSSAI
(Food Safety and Standards Authority of India).Spirulina is a health supplement product.
HIMALAYA, PATANJALI, DABUR & many others are selling their branded Spirulina around
Rs.500-800 per pack.
It has an equity base of just Rs.7.5crore. During 9MFY17, SCSL posted sales of
Rs.57.77crore with PAT of Rs.2.10crore fetching an EPS of Rs.3.02. One must note that its
9MFY17 profit of Rs.2.10crore is almost 75% higher of its FY16 profit of Rs.1.20crore. It is
regular dividend paying company & paid 6% dividend for FY16.
We are expecting that "Mycorrhizal Bio Fertilizer" & "Spirulina" will change company's
fortune & stockcan give multifold returns in next 12-24 months.
One can buy aggressively in this DARK HORSE with stop loss of Rs.105. On the upper
side, it could zoom to Rs.225 levels in 6 months and further to Rs.350-400 levels in 18-24
months.
In FY06, DHANUKA AGRITECH posted net sales of Rs.54.42crore with net profit of
Rs.2.95crore & share was traded around Rs.26. After 10 years, in FY16, DHANUKA AGRITECH
posted net sales of Rs.831crore with net profit of Rs.107crore & share is trading around
Rs.730, market capital is around Rs.3700crore. With MYCORRHIZAL & SPIRULINA prod-
ucts SUPER CROP SAFE can be a big player in coming years…
Disclosures: At the time of writing this article, author, his clients & dependent family mem-
bers 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 men-
tioned in website. Author may have positions in above stocks so have vested interest obvi-
ously in their going up or down as the case may be.
Disclaimer: Investing in any equity is risky. Our recommendations are based on reliable &
authenticated sources believed to be true & correct, and also is technical analysis based on
& conceived from charts. Investors should take their own decisions. We assume no respon-
sibility for any transactions undertaken by them. The author won't be liable or responsible
for any legal or financial losses made by anybody.
Nayan Patel
DURING MARKET TIME TO GET FREE INFORMATION FOR TRADING &
INVESTMENT & GET INFORMATION REGARDING MARKET JOIN ON
TELEGRAM WITH MY ID
TELEGRAM.ME/RUPEEGAINS
SMART
INVESTMENT
SMART
INVESTMENT
- Parag Salot
Technical Trading Trends (SEBI Registered Research Analyst)
M. : 91-9930011789
Nifty Overview : In last trading session, Nifty closed at 8363. As informed in our last issue, Nifty is in negative
zone and is at resistance level. As per current chart and data, Nifty is sell at rise. The max Nifty can go before budget
is 8600 levels (if it goes above 8440) so one can sell at rise as per that level. We will be giving sell levels to our clients
during market
Bank Nifty Overview : In last trading session, Bank Nifty closed at 18857. Similarly to Nifty, even Bank Nifty is
negative zone and will be positive only above 19150 levels. Next week is expiry and budget is on 01 Feb 2017. There
would be enough chances to trade later but its better to keep positions light ahead of expiry & budget.
Last Recommendation Review

Scrip Name BSE Buy/ Enter Did High/ Remark
Code Sell at Low
Asian Paints 500820 Buy 920 979 Target Achieved
Britannia 500825 Buy 2925 3154 Target Achieved
HCL Tech 532281 Buy 830 850 Target Achieved
Jet Airways 532617 Buy 390 419 Target Achieved
Jubliant Food 533155 Buy 835 895 Target Achieved
KSCL 532899 Buy 430 493 Target Achieved
IOC 530965 Sell 360 350 Target Achieved
Trading Buy
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Bank of India 532149 112 116 120 124 112
Divis Labs 532488 711 690/705 720 750 675
HCL Tech 532281 838 830/840 860 880 820
Idea (Delivery Buy) 532822 71 64/67 75 90 55
Jindal Steel (Delivery Buy)532286 77 80 90 100 70
Jubliant Food 533155 847 830/840 855 875 815
Trading Sell
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
BharatFin 533228 666 680/690 670 650 705
Havells 517354 400 400/410 395 385 420
IGL 532514 923 925/940 910 890 960
Hind Zinc 500188 288 296/300 290 280 310
IOC 530965 353 356/360 350 340 370
Power Grid 532898 199 202/205 195 188 212
Note : All calls are momentum calls based on technical analysis and all levels as per future prices (If scrip not available in futures then BSE Cash price). All
these calls are given based on daily charts but intra-day signals are equally important to enter the trade in a timely manner. Timing is very important and we at
shareinfoline.com give you timely calls based on intra-day charts.
Read Disclaimer at ShareInfoline.com
SMART
INVESTMENT
Dark Horse
On 26th December 2016, we had recommended
BANARAS BEADS @ Rs.55, within a month it
zoomed almost 35% to Rs.74 levels….
EON ELECTRIC LTD AVT NATURAL PRODUCTS

(532658 & NSE) (69) (FV.5) (519105 & NSE) (34) (FV.1)
AVT Natural Products

(519105 & NSE) (34) (FV.1)
AVT Natural Products Limited is engaged in the
production of nutraceutical grade products. The
Company's principal products/services are Marigold
Oleoresins, Spice Oleoresins and De-caffeinated
Tea. It operates through the solvent extracted prod-
ucts segment. It engages in contract farming in
which it provides farmers with seeds. Its Marigold Oleoresin products include Marigold (Food Grade)
and Marigold (Feed Grade). Its Spice Oils and Oleoresins products include OR paprika, OR capsi-
cum, curcumin powder 95% and OR black pepper. Its Value Added Tea products include
decaffeinated tea; green tea, which includes beverage grade, nutraceutical grade and application
as antioxidant in food, and instant black tea, which includes cold water soluble-iced tea and hot
water soluble tea. Its post-harvest processing centers are located across various locations in Tamil
Nadu and Karnataka. The Company's subsidiaries include AVT Tea Services Ltd. and AVT Tea
Services North America LLC.
It has an equity base of just Rs.15.23crore that is supported by huge reserve of around Rs.185.18.
The Promoters hold 74.35% while the investing public holds 25.65% stake in the company.
During Q2FY17, AVT posted sales of Rs.67.92crore with 5.71% higher PAT of Rs.6.47crore
fetching an EPS of Rs.0.42. During H1FY17, its net profit zoomed 9.30% to Rs.13.04crore from
Rs.11.93crore in H1FY16 on sales of Rs.151.79crore fetching an EPS of Rs.0.86.
One can buy with stop loss of Rs.30. On the upper side, it could zoom to Rs.45-50 levels in
medium term. Its all-time high rate is Rs.55…
SMART
INVESTMENT
EON Electric Ltd.
(532658 & NSE) (69) (FV.5)
Eon Electric Limited manufactures, markets, and sells electrical products used for the distribu-
tion, protection, control, and conservation of electrical energy in India. It operates through Cable
and Wires, Lighting, Electrical Consumer Durables, and Others segments. The company offers
cables and wires, including co-axial TV, telephone switch board, PVC insulated, three core flat,
and PVC insulated multicore cables; and lighting products, such as compact fluorescent lamps,
fluorescent tube lights, LEDs, retrofit and non-retrofit products, HID-lamps, consumer luminaries,
halogen lamps, and accessories. It also provides fans comprising ceiling fans, domestic exhaust
fans, and portable fans/TPW; mobile phone accessories, including USB data cards, handsfree
products, card readers, Bluetooth headsets, chargers, platinum batteries, and power banks; water
heaters, such as stationary storage and instant water heaters; and lithium ion batteries. Eon Elec-
tric Limited was founded in 1958 and is based in Noida, India
It has an equity capital of just Rs.8.03crore supported by reserves of around Rs.103.73crore.
The promoters hold 59.74% of the equity capital, which leaves 40.26% stake with the investing
public.
It has a share book value of Rs.69.60 & price to book value ratio is just 1 which is impressive.
During Q2FY17, EON posted PAT of Rs.0.91 crore against loss of Rs.2.49 crore on higher
sales of Rs.43.69 crore fetching an EPS of Rs.0.57. During H1FY17, its net profit soared to Rs.1.99
crore from loss of Rs.3.68 crore in H1FY16 on higher sales of Rs.88.48 crore fetching an EPS of
Rs.1.24.
Stock looks attractive for investment at the current level. Investors can buy this stock with a stop
loss of Rs.55. On the upper side, the stock could zoom to Rs.90-95 levels in the medium-term and
further to Rs.120+ in the long-term. It's all-time high rate is Rs.320…
SMART
INVESTMENT
Subramanian Mahadevan
Stock Buzz dolphincapital@gmail.com
HPL Electric & Power Limited (Rs.117)

Well Metered!
HPL Electric & Power Limited (HPL) -is a New Delhi based well established electric equipment
manufacturing company in India. It manufactures wide range of electric equipment along with switch
gears, metering solutions, wires, cables and lighting equipment catering to both individual and
institutional customers within the industry. HPL still holds the large chunk of market share in the
organized space for electricity energy meters and highly authorized by most of the State Electricity
Boards and power distribution companies for house-hold and commercial use. HPL raised around
361 crore few months back by fixing Rs.202 a piece, intended to repay loans/debts, to fund work-
ing capital requirement and for general corporate purpose. Performance of HPL post listing have
been subdued for variety of reasons like poor market conditions, negative sentiment due to de-
monetization, below average quarterly numbers and aggressive pricing of its IPO compared to
listed peers. We believe that HPL is a four decade old company with a robust business model and
strong order book line of around 365 crore coupled with good product portfolio and proven man-
agement in terms of execution. Recently HPL has reduced its debt by repaying close to 320 crore
collected through IPO which will further bring down its interest cost substantially and also won 100
crore order which includes - 70 crore order for Bhopal Smart City Lighting project and Rs 30 crore
for supplying energy meters from Southern Power Distribution company. High risk investors can
consider entering the stock on every decline due to low float (promoter holds 72.15% stake) for
minimum 50% returns in two year time frame and we expect HPL to be completely debt free by
FY19.
Tata Communication Limited (Rs. 698)

Debt Overhang!
Tata Communication Limited (TCL) - is a Mumbai based global telecom company of Indian
business conglomerate Tata Group. The company's infrastructure includes sub-sea, terrestrial
communications networks, data centers and it provides fixed line and wireless services. It also
holds shares in Neotel of South Africa, Tata Communications Lanka Limited in Sri Lanka and
United Telecom in Nepal. TCL also holds stake in Tata Teleservices Limited, the 6th largest mo-
bile service provider in India with excess of 60 million subscribers as on date. We believe going
forward voice business margin to be relatively stable however stellar growth is expected in the
data segment to continue to increase driven bygrowing demand for solutions to support enter-
prises digitaltransformation. TCL is also witnessing exciting opportunities in thecross-border mo-
bility in the IOT or Internet of things, managed security,cloud and artificial intelligence domain and
it expects it to form ameaningful part of the overall revenues. Stock has more than doubled in the
last nine months on news flow like Neotel stake sale, Data Center deal, land demergerand main-
taining capex for current year FY17 as planned. Debt continue to be a big overhang for TCL be-
sides DoCoMo liability where it paid close to 1058 crore in Q2FY17 alone towards DoCoMo obli-
gation. We feel all the good news are already factored in the price. Book Profits and re-enter later
at lower levels.
- Subramanian Mahadevan
SMART
INVESTMENT
Smart Picks Rohan Nalawade - Expert in financial analysis (Mumbai )
E-mail ID : rohan.nalavade21@gmail.com
Nifty major support at 8300 - 8325

As per our earlier edition we had stated 8450-8500 a major hurdle for bulls and perfect
result it gave it took big resistance and call writing of 8500 was clearly seen in last week,bulls
have to breach these level 8460 to take full control of market to make new highs in 2017
.Gann swing low is 8275 and swing high 8460 which ever will breakout a big move going to
come,last week nifty weekly close was 8400 ,and this week it close below 8400 so nifty has
to close above 8400 for fresh upmove
Bank nifty have good support above 18900 levels
January 20 President of USA inauguration
Of 45 president Donald trump will mark the commencement of the 4 yr tenure. So big
event market will react to his speech
Budget day - Indian budget day iscoming soon on Feb -1 Indian market will react wild
swing will be seen so lot of big event in january in coming weeks
Stocks to watch out for
SBI bank looks good above 249 for 265
Tatamotors looks good above 510 for 5
ICICI bank looks good above 260 for 285
Hindalco look good above 168for 179
Nifty & Sensex Movement during the last week

NSE - Nifty Open High Low Close Diff
16-Jan-17 8390.95 8426.7 8374.4 8412.8 12.45
17-Jan-17 8415.05 8440.9 8378.3 8398 -14.8
18-Jan-17 8403.85 8460.3 8397.4 8417 19
19-Jan-17 8418.4 8445.15 8404.05 8435.1 18.1
20-Jan-17 8404.35 8423.65 8340.95 8349.35 -85.75
Net Weekly Loss -51
S&P BSE Sensex Open High Low Close Diff
16/01/2017 27,238.35 27,335.08 27,172.68 27,288.17 50.11
17/01/2017 27,331.82 27,381.43 27,179.19 27,235.66 -52.51
18/01/2017 27,261.76 27,422.67 27,217.65 27,257.64 21.98
19/01/2017 27,253.34 27,348.19 27,219.89 27,308.60 50.96
20/01/2017 27,232.69 27,264.41 27,009.81 27,034.50 -274.10
Net Weekly Loss -203.56
SMART
INVESTMENT
A. K. Asnani
(M) 9893512098
Smart Verc (Bhopal)
Author of Book
Way to Billionaire
Theme for 2017: SIMPLE

In 2016 I worked on 'VALUE' theme for stock selection process and this theme worked
very well. Couple of articles on PEG (PE to Growth ratio) received extraordinary interest and
response from investors around the country.
For 2017 my theme is SIMPLICITY.
Theme becomes a powerful intention that's like an invisible guide for everything that we do
in the year. As I put conscious focus and attention on this theme during the year in a relaxed
way - I am sure amazing things will happen with very little effort.
I love it when I discover a way to make something that seems really complicated into
something really simple.
For example, when I tell an investor that I multiplied my investments 10 times in 10 years,
they all get amazed! And term it as wonderful performance. But when I ask them to invest in
a stock which has potential to deliver 30% re- Happy to share that the stocks ad-
turns per annum for 10 years, they refuse the vised in issue dated 2 Jan to 07
advice quoting that the returns are low! But the Jan 2017 have gained handsomely
fact is the later returns are much better than the within a short duration.
former. It is only the perspective of looking re- Price in parenthesis pertains to the
turns from short and long term point of view. In- advice price, followed by the cur-
rent price as on 17-01-2017.
vestors are often over optimistic in 12 months
Indusind Bank (1059), 1211
and over pessimistic in 12 years of investment.
Sudarshan Chem. (284), 336
Meanwhile, I shall continue to work on VALUE Berger Paints (195), 215
the most powerful tool for all investors to make Bajaj Finance (807), 913
bags of money from stock investing. 2017 is go- L & T (1357), 1443
ing to be an amazing year! Stay tuned with Smart Cheers!
Investments, 2017 is going to be a happening year. A K Asnani,
Author of book
For your success, 'Way To Billionaire'
SMART
INVESTMENT
Technical News : 23-1-2017 to 27-1-2017
Manu Consultants : Manishkumar - Kolkata
SEBI REG:- RESEARCH ANALYST- INH300002449
• NIFTY FUTURE
NIFTY FUT SUPPORT AT 8320-8250 AND RESISITANCE 8480-8550
STRATEGY :- BUY NIFTY ON DIPS TILL 8280 SL 8250 TA 8550-8700
• STOCKS F&O:-
JSW ENERGY FEB (61):- BUY JSW ENERGY ON DIPS TILL 58 SL 55 TA 65-68
LIC FEB (519):- BUY LIC ON DIPS TILL 500 SL 490 TA 538-45
GMR FEB (12.75):- BUY GMR INFRA ON DIPS 12 SL 11 TA 15-18
IDEA FEB (72):- BUY IDEA ON DIPS TILL 68 SL 65 TA 76-80
• SELL STOCKS
SELL BIOCON ON RISE TILL 990 SL 1010 TA 965-40
SELL GLENMARK ON RISE TILL 910 SL 922 TA 874-60
• DELIVERY STOCKS
BUY PHILLIPS CARBON SL 230 TA 320-50
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.
Financial Weekl
eekly y
Every Sunday Every Wednesday
English & Gujarati Edition Gujarati Edition

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

Sensex Takes Support at 200 DMA
As expected the markets faced strong hurdle at the Bearish Gap between Sensex 27344-27457
and Nifty 8460-8510 and retraced. After three weeks of upward movement, some consolidation
was to be expected and it happened. Both the indices have taken support at the Bullish Gap be-
tween Sensex 27022-26914 and Nifty 8322-8293. Interestingly even the long term average of
200dma falls in this Gap, which makes it a very strong support. The current market movement is in
a narrow range defined by the two above mentioned Gaps.
Technically Speaking :- Sensex opened the week at 27238, made a high of 27422, low of
27009 and closed the week at 27034. Thus it closed the week with a loss of 204 points. At the
same time the Nifty opened the week at 8390, made a high of 8460, low of 8340 and closed the
week at 8349. Thus the Nifty closed the week with a loss of 51 points.
On the weekly charts, both Sensex and Nifty have formed a Bearish Harami which is a Bearish
reversal pattern, but it requires confirmation. On the daily chart, both the indices have formed a
Real body Bearish candle. Thus candlestick formations are suggesting a slight bearish bias in the
near term.
This week, both the indices faced strong hurdle in the form of a Bearish Gap between Sensex
27344-27457 and Nifty 8460-8510. Despite this, the Pull-back rally continues and the Retracement
levels are placed at Sensex 27001-27397-27994 and Nifty 8301-8431-8558.
After facing Resistance at the Bearish Gap, both the indices fell and took support at the long
Last Weeks Recommondation This Weeks Recommendations

Stocks Reco.Price TGT Reached Lot Size Profit
Buy TataComm 672 698 698 1400 26,400 Rec. Name CMP SL TGT-1 TGT-2
Buy Gail 452 469 471 1500 28,500 Buy IGL 923 899 960 999
Buy CESC 674 698 704 1100 22,000 Buy UPL 733 716 759 786
Buy PowerGrid 197 203 204 4000 28,000 Buy Havells 401 390 418 437
Buy NMDC 143 149 147 6000 24,000 Buy IDBI 74 72 78 82
Total 1,38,900 Buy Elgi Rubber 66 62 73 81
:::: INDEX LEVELS ::::

S3 S2 S1 Close R1 R2 R3
NIFTY 8056 8159 8250 8349 8460 8550 8663
SENSEX 25897 26262 26617 27034 27422 27743 28095
SMART
INVESTMENT
term average of 200dma (Sensex - 27022 and Nifty - 8314), which incidentally is coinciding with
the Bullish Gap between Sensex 26978-26914 and Nifty 8322-8293. Thus, due to this confluence,
there is a strong Support zone formed between Sensex 27022-26914 and Nifty 8322-8293. Thus
the market is moving in a narrow trading range which is defined by the Bullish Gap as the upper
boundary and Bearish Gap as the lower boundary.
The indices have made an intermediate bottom at Sensex 25700 and Nifty 7900. Only a break
below this level will spell trouble for the Bulls as it will complete a strongly bearish pattern. Till the
indices remain above this level, one can expect the Pull-back to continue. A Trend Reversal can
occur only if Sensex closes above 27794 and Nifty above 8558.
MACD and Price ROC are both positive and continue in Buy mode. RSI (57) still suggests
bullish momentum. Stochastic Oscillator %K (81) has gone below %D, indicating a Sell. ADX is at
30 which suggest that the trend is strong. Directional Indicators continue in Buy mode as +DI re-
mains above -DI. MFI (79) suggests Positive Money Flow. OBV has started making higher top,
higher bottom formation which is positive. Thus majority of Oscillators are suggesting a bullish
bias in the near term.
This week, both the indices took support at just above the long term average of 200dma (Sensex
- 27022 and Nifty - 8314) and managed to close just above it. Also both Sensex and Nifty continue
to remain above the medium and short term average of 50dma (Sensex - 26524 and Nifty - 8170)
and 20dma (Sensex - 26805 and Nifty - 8253). Thus the trend in the short term, medium term and
even the long term timeframe continues to remain upwards.
Options data for January series indicate highest Call Open Interest build-up at the strike of 8400
and highest Put build-up remains at 8000. Thus Options data suggests a trading range with resis-
tance coming in at 8400 and support at 8000.
Buy... Buy... Buy on Dips Hold Sell on High

Indusind Bank 1220.00 Adani Power 34.00
Uttam Galva 31.00 EID - Parry 282.00
NIIT TEchno 442.00 Mastek 190.00
PNC Infra 105.00 V-Guard 178.00
Gulf Oil Lub. 666.00 Wipro 477.00
Prakash Ind. 68.00 Sasken Comm. 389.00
NHPC 27.00 Federal Bank 77.00 M&M 1191.00 Atul Ltd. 2159.00
Indian Acrylics 18.00 NMDC 141.00 Biocon 973.00 HCL Techno 838.00
Kirloskar Oil Eng. 329.00 Clariant Chem. 723.00 Sintex Ind. 82.00
Suzlon 17.00
HDIL 60.00 Reliance Ind. 1025.00 Infosys 948.00
Aarve Denims 88.00
TNPL 341.00 EIL 146.00 Mind Tree 474.00
Chambal Fert. 82.00
REC 137.00 Coal India 303.00 Axis Bank 450.00
Ruchi Soya 27.00
Cox & Kings 200.00 Bharat Electronics 1475.00 M&M 1191.00
Duke Offshore 115.00 Divis Labs. 713.00
Hindustan Zinc 287.00
SMART
INVESTMENT
Terrific Shots - Dilip K. Shah
Sterlite Techno (Rs107.00) (Code:532374) :- The stock prices have been getting
consolidated between 90 and 70 for a long time. The market cap is Rs4356 crore. The promoters
hold 54.52% and public hold 45.48% stake in the company. As against equity of Rs79.04 crore, the
company has reserves of Rs619.81 crore. In December quarter, the company's income increased
from Rs595.56 crore to Rs732.34 crore, while profit increased from Rs30.22 crore to Rs49.12 crore
with EPS of Rs1.23. The company's profitability has improved after restructuring. It is doing better
in optical fiber space. The stock can be considered for investment because of breakout from con-
solidation zone in near future.
E-Clerx (Rs.1489.00) (Code:532927) :- Mumbai-based company is active in KPO
segments, with seats in Mumbai, Pune and Chandigarh. The zero debt company's 95% revenue
comes from Fortune 500 companies. It provides services to financial services, broadband, cable
and telecom, e-commerce, retail, high-tech industrial and manufacturing, distribution, software,
media and travel segments. As against equity of Rs40.79 crore, the company has reserves of
Rs1045.37 crore. The promoters hold 50.44% and public hold 49.50% stake in the company. In the
first six months, the company's income increased from Rs626.80 crore to Rs637.86 crore, while
profit increased from Rs165.96 crore to Rs193.04 crore with EPS of Rs47.28 crore. The company
has paid regular dividends.
Link Pen and Plastics (Rs.279.00) (Code:531241) :- The non-durable household
product manufacturing company was set up in 1994. It has become the leading player with 200
products especially in stationary segment. It roped in Shahrukh Khan as brand ambassador in
2008 and Katerina Kaif in 2011. It has manufacturing unit in Falta Sez. It forged joint venture with
Japan's Mitsubishi Pencil and bought 13.5% stake. It is going to invest Rs26 crore to take up
manufacturing capacity of Gujarat plant to 15 crore pens. In September quarter, the company re-
corded net profit of 4.13 crore on income of Rs87 crore with EPS of Rs4.13. Big players like Ramesh
Damani, Porinju Velgath and Shyam Shekhar hold considerable stake in the company.
VST Tillers (Rs1844.00) (Code: 531266) :- The commercial vehicle company has
promoted VST Tillers Tractors Ltd in joint venture and technical collaboration with Japan's Mitsubishi
Heavy Ind Ltd. The company manufactures and trades agriculture machinery including power tillers,
tractors, power reaper, rice transplant engines, and its components. The good monsoon season
will benefit the company. It has network of 200 dealers and 300 vendors across the country. It also
exports its products to Africa, Russia, Myanmar and other countries, while export components to
UK and Europe. In September quarter, the company's income increased from Rs150.94 crore to
Rs174.65 crore, while profit increased from Rs16.14 crore to Rs17.45 crore with EPS of Rs20.30.
The debt free company had announced 150% dividend last year. It seems attractive at current
market rate and may give good return.
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
SMART
INVESTMENT
Sarvesh Ashok Trivedi
Stock Wave (Mumbai) (Mob) 09820728124
www.chartsanketstock.com
Selected Scripts may witness upward movement

BSE Index (27034.50) :- It is moving upward from bottom of 25753.74. It shows overbought to
neutral position on daily basis, overbought on weekly basis and near oversold position on monthly
basis. On upward movement, beyond 27151, it may go up to 27245, 27350 with resisting level at
27460. On downward movement, below 27000 it may go down to 26915, 26800, 26690, 26585
with support at 26480.
Nifty Future (8362.65) :- It shows improvement from bottom of 7896.35. It shows overbought to
neutral position on daily basis, overbought on weekly basis and near oversold position on monthly
basis. It shows overbought to neutral position on daily basis, overbought on weekly basis and
oversold position on monthly basis. On upward movement, beyond 8397 it may go up to 8433, with
resisting level at 8468. On downward movement, below 8352 it may go down to 8325, 8290, 8250
with support at 8220.
Bank Nifty Future (18861.70) :- It shows upward movement from bottom of 17617. It shows
overbought position on daily and weekly basis, while oversold position on monthly basis. On up-
ward movement, beyond 18950 it may go up to 19000, 19090, 19200 with resisting level at 19297.
On downward movement, below 18800, it may go down to 18775, 18635 with support at 18450.
Titan (360.70) :- It is moving upward from bottom of 307.10. It shows overbought position on
daily and weekly basis, while oversold position on monthly basis. On upward movement, beyond
380 it may go up to 389, 398, 407 and 415. On downward movement, below 354 it shows weak
movement with support at 342.
Reliance Infra (505.40) :- It is moving upward from bottom of 438.60. It shows overbought posi-
tion on daily and weekly basis, while towards oversold position on monthly basis. On upward
movement, beyond 527 it may go up to 538 and 550. On downward movement, below 499 it may
go down to 498, 476 with support at 464.
Jubilant Food (846.45) :- It is improving from bottom of 819.05. It shows overbought position on
daily and weekly basis, while oversold position on monthly basis. On upward movement, beyond
866 it may go up to 900, 922 and 945. On downward movement, below 842 it may get support at
825.
HDIL (60.45) :- It is moving upward from bottom of 52.30. It shows towards oversold position on
daily basis, overbought position on weekly basis and oversold position on monthly basis. On up-
ward movement, beyond 66 it may go up to 75. On downward movement, below 59 it may get
support at 56.
Ambuja Cement (217.70) :- It is improving from bottom of 197. It shows towards overbought
position on daily basis, overbought on weekly basis and oversold on monthly basis. On upward
movement, beyond 24 it may go up to 228, 231, 235 and 242. On downward movement, below 213
it may get support at 208.
disclosure : The Recommendations are based on technical analysis. There is a risk of loss in
trading.
-: Golden quote :-
Turn Your wounds into wisdom
SMART
INVESTMENT
Dilip Davda Best Buy
e-mail Expert’s Eye RBL Bank,
dilip_davda@rediffmail.com Rane Brake,
Maral Overseas
A range bound week
Is Budget rally round the corner ?
During the week under report, while market remained in a range bound trades under sluggish mood and
looking for some major trigger for either side movement, experts are hoping for a pre-budget rally in coming
week as budget is not too far now. However, delayed GST and elections in some states are likely to have
intermittent impact on the sentiment for a while. During the week market moved in a narrow range and last
day mega fall ultimately overshadowed to close the week in red. But is budget rally round the corner is a
million dollar question as market trends are not in line with such expectations.
NSE Nifty and S&P BSE Sensex moved in the range of 8460.30-8340.95 and 27422.67-27009.81 re-
spectively during the week.
Secondary Market :- On Monday markets opened on a weak note following sluggish global trends, but
at the end of the day, it managed to recover and close in green. NSE Nifty gained mere 12.45 points to close
at 8412.80; BSE Sensex scored just 50.11 points to end the day at 27288.17. Select Tata group companies
lead the rally and got support from fancy Banking, Metal, Consumer Durables and Auto counters. Small and
Mid cap counters continued upsurge on informed buying. FII remained net sellers while DIIs turned net
buyers.
Although market opened on a firm note on Tuesday it gave up post noon under selling spree at higher
levels on profit bookings and thus closed in red. NSE Nifty lost just 14.80 points to end the day at 8398.00,
BSE Sensex marked deficit of 52.51 points to close at 27235.66. Despite improved performance, RIL lead
the doom and got support from oil and gas sector counters. FMCG counters gained momentum. Small and
Mid cap counters continued to gain momentum. FIIs turned net buyers while DIIs turned net sellers.
Markets opened on a firm note on Wednesday too and managed to stay afloat with closing flat but in
green. NSE Nifty gained just 19.00 points to close at

During the week dividend 8417.00 and BSE Sensex scored mere 21.98 points
announcements came in to end the day at 27257.64. Market witnessed index
HIL (100%), Trident (6%), based movement in which Metal, Banking, Capital
Goods and Power counters remained in limelight and
DB Corp (40%), MindTree (20%), helped indices to close in green. Rally continued in
Indiabulls Housing (450%), select Mid and Small cap counters. FIIs turned net
Rane Brakes (60%) buyers in cash but were net sellers in Futures. Market
gave up post noon from the high of the day to close
Bonus Announced flat. Tejnaksha Health announced bonus in the ratio of
1 share for every 1 share held.
Tejnaksha Health (1 : 1) On Thursday markets opened with a divergent note
Kushal Trade (1 : 1) and closed flat but in green in a range bound move-
Akme Star (1 : 1) ment. NSE Nifty scored just 18.10 points to end the
day at 8435.10 and mirroring similar sentiment, BSE
Bonus Meet Sensex gained mere 50.96 points to close at 27308.60.
Gail India (25-1-2017) Select buying continued in Mid and Small cap counters.
Consumer Durables, FMCG, Auto, Oil and Gas
K. P. Energy (28-1-2017)
SMART
INVESTMENT
counters lead the rally. FIIs turned net sellers in cash but net buyers in Futures. DIIs turned net buyers.
On Friday tracking weak global cues, markets opened on a poor note and lost ground as the day pro-
gressed to close in red. NSE Nifty marked deficit of 85.75 points to end the day at 8349.35 and BSE
Sensex lost 274.10 points to close at 27034.50. Thus while Nifty lost level of 8.4K, Sensex managed to
close above 27K. Market turned cautious ahead of Donald Trump's inaugural address to US on his first day
as President of US. Banking counters lead the doom and got support from Metal, Mining, Realty and Power
sectors. Even Mid and Small cap counters too lost ground and declined sharply. Thus benchmarks indices
closed at one week low. FIIs and DIIs turned net sellers. Kushal Trade has announced bonus in the ratio of
1 share for every 1 share held. Akme Star too announced bonus in the ratio of 1 share for every 1 share
held. Nutraplus turned ex-bonus (1for10).
In a range bound trades, the week marked net weekly LOSS of 51.00 points and 203.56 points for NSE
Nifty and S & P BSE Sensex respectively.
During the week dividend announcements came in from HIL Ltd (100%), Trident Ltd (6%), DB Corp
(40%), MindTree (20%), Indiabulls Housing (450%), Rane Brakes (60%) etc.
Rupee hovered above Rs.68 a dollar keeping a tab on the general market trends. Crude oil eased a bit
and moved around 53$ a barrel. Now that Q3 numbers season is at its peak it will keep market in stock
specific mode. All eyes are now set for Budget as GST is delayed for July 01, 2017 and thus adjustment for
its implementation will be triggered by budget. A pre-budget rally is not ruled out. For the ensuing week,
Nifty and Sensex may move in the range of 8500-8200 and 27500-26500.
Bonus meets convened by GAIL on 25.01.17 and by K P Energy on 28.01.17.
Scrip Watch :- Following scrip may be kept on radar for strategic investment ideas for medium to long
term.
RBL Bank (BSE Code 540065) :- This new age private sector bank has posted net profit of Rs. 315.92
crore on a total income of Rs. 3245.75 crore for the 3Qs of FY 16-17 against net profit of Rs. 208.30 crore
on a total income of Rs 2330.19 crore for the corresponding previous period. For FY 15-16 it posted net
profit of Rs. 292.48 crore on a total income of Rs. 3234.85 crore. Thus it has achieved more than last full
year's top and bottom lines in first nine months of the current fiscal. As on 31.12.16, equity capital of Rs.
373.14 crore is supported by free reserves of Rs. 2975 crore plus. Scrip is worth considering at declined
levels for medium to long term rewards. It currently quotes around Rs. 368.35 against 52 week High/Low of
Rs. 421/274, FV Rs. 10.
Maral Overseas (BSE Code 521018) :- This textile sector company has posted net profit of Rs. 11.58
crore on a turnover of Rs. 477.48 crore for 3Qs of FY17 against net profit of Rs. 7.05 crore on a turnover of
Rs. 465.89 crore for corresponding previous period. For FY 2015-16 it posted net profit of Rs. 10.21 crore
on a turnover of Rs. 618.83 crore. As on 31.12.16, equity capital of Rs. 41.51 crore is supported by free
reserves of Rs. 49 crore plus. Scrip may be considered at declined level for long term investment. It cur-
rently quotes around Rs. 38.00 against 52 week High/Low of Rs. 40/22, FV Rs. 10.
Rane Brake (BSE Code 532987) :- This transportation industry component manufacturing company
has posted net profit of Rs. 30.30 crore on a turnover of Rs. 354.03 crore for 3Qs of FY 16-17 against net
profit of Rs 16.62 crore on a turnover of Rs. 324.64 crore corresponding previous period. It has announced
60% interim dividend. For FY 15-16 it posted net profit of Rs. 25.76 crore on a turnover of Rs. 448.42 crore.
As on 31.12.16 it's paid up equity capital of Rs. 7.92 crore is supported by free reserves of Rs. 160 crore
plus. It currently quotes around Rs. 958.90 against 52 week High/Low of Rs. 1399/287, 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 mak-
ing investment decisions. Readers must consult a qualified financial advisor prior to making any actual
investment decisions, based on information published here. Any reader taking decisions based on any
information published here does so entirely at own risk. Above information is based on the details available
as on the date along with market perceptions. Author has not traded in above three stocks mentioned in
Scrip Watch during last one month and has no holdings or plans to invest in any scrip referred above.
(THE AUTHOUR IS SEBI REGISTERED RESEARCH ANALYST) (Email:
dilip_davda@rediffmail.com )
SMART
INVESTMENT
Scrip Watch - Dilip K. Shah
Kirloskar Oil (Rs. 329.00) (Code : 533293) (F. V. : 2.00) :- KOEL manufactures
diesel engines, agricultural pumpsets and generating sets through four units located in Pune,
Nashik, Rajkot and Maharashtra. It has an annual production capacity of 2.20 lakh and it will be
increased to five lakhs by 2025. In 18 months time, the company will strengthen its product portfolio
with the introduction of four more high horse power gensets of 1250, 1550, 1850 and 2000 kVA.
These products will be manufactured at its Nashik plant. With that, it will have a product line span-
ning from 30 to 2000 kVA range of gensets. The company has a market share of 33 per cent. Last
year KOEL posted a revenue of Rs.2,500 crore and hopes to touch Rs.12,000 crore by 2025. The
stock is worth accumulating.
Biocon (Rs. 973.00) (Code : 532523) (F. V. : 5.00) :- The US Food and Drug
Administration (USFDA) has accepted Mylan's biologics license application for MYL-1401O, a
proposed biosimilar trastuzumab. The drug is used to treat HER2-positive breast cancers.It is a
major milestone for the Mylan and Biocon collaboration since it is the first US regulatory submis-
sion through our joint global biosimilars program. It reinforces the strength of the collaboration to
increase access to a broad portfolio of high-quality, affordable biosimilars worldwide.The promot-
ers holding in the company stood at 60.68 % while Institutions and Non-Institutions held 21.02 %
and 16.49 % respectively. In the last one year the stock has given a return of 97.21%. It is currently
trading with a P/E of 26.07. Buy at decline.
NIIT Technologies (Rs. 442.00) (Code : 532541) (F. V. : 10.00) :- IT major
NIIT Technologies, last week, posted a 10 per cent fall in its net profit for the third quarter ended
December at Rs 62.4 crore, as compared to the Rs 69.4 crore net profit in the same quarter of the
previous fiscal caused by seasonal softness in demand and currency volatility.NIIT Tech's con-
solidated revenues grew 2 per cent to Rs 693.8 crore. The company expanded its margins by 23
basis points, which will be stronger in the coming quarter. The company experienced strong growth
in EMEA (Europe, Middle East and Africa), which expanded 4 per cent in constant currency. Its
travel and transportation business contributed to 32 per cent of the revenue mix, while banking and
financial services and other segments, including manufacturing and media, contributed to 18 per
cent and 26 per cent, respectively. Of the overseas markets, the US accounted for 48 per cent of
total revenues, while the Asia-Pacific (APAC) region and India contributed 10 per cent and 8 per
cent, respectively. The stock is up more than 10 per cent in last three months. Buy in phased
manner.
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
SMART
INVESTMENT
Market Tips - Dilip K. Shah
Vinati Organics (Rs. 698.00) (Code : 524200) (F. V. : 2.00) :- Vinati is the
largest player for Isobutyl Benzene commanding more than 65% of the global market. VOL has
unique business structure which gives them edge. The company is mainly involved into manufac-
turing of specialty chemicals mainly Aromatics, monomers, Polymers and other specialty products.
The company is leader manufacturer of the Isobutyl Benezene(IBB) specialty organic intermedi-
ately which is used as basic raw material for manufacturing of Ibuprofen. A well experienced and
able management coupled with good growth in the Acrylamido Methylpropane Sulfonic Acid (ATBS)
segment, driven by demand in the water treatment, projects a positive outlook for the company. At
CMP of Rs 690 plus, VOL is trading at 27.4x its FY16 EPS of Rs 25.5 which is at an attractive
valuation. With 20% sales CAGR, strong margin improvement and strong return ratios, We expect
stock to trade at 21.8x its FY18E EPS of Rs 38.0. Accumulate.
BEL (Rs. 1475.00) (Code : 500049) (F. V. : 10.00) :- Bharat Electronics stock is
up 22% in the past three months. A strong order book in the defence sector backed by improved
research and development (R&D) investments over the past few years has grabbed attention of
investors. The Bangalore-headquartered market leader in defence electronics manufactures ra-
dar, electronic warfare, avionics, military communication system. Defencerelated products account
for more than two-thirds of its revenue. The government owns 74% stake in the company. Analysts
expect BEL to bag orders worth Rs 12,000-13,000 crore for each of the next three years. At the end
of September 2016 quarter, the company had outstanding order book of Rs 34,700 crore which
provides revenue visibility for the next four years. The company's management has guided for 8-
10% revenue growth over the next five years, which seems to be an easy target given the order
visibility. As the budget is near the corner, the stock will get momentum. Buy. Buy more at any
decline.
Endurance Technologies (Rs. 584.00) (Code : 540153) (F. V. : 10.00) :-
Established in 1985, Endurance is in the business of manufacturing aluminium die castings, sus-
pensions, transmissions and brakes, and counts Bajaj Auto, Mahindra & Mahindra, Eicher Royal
Enfield, Harley Davidson and Tata Motors among its customers.During October 2016, Endurance
went for an Initial Public Offering (IPO) with Rs 1,161 crore. Endurance Technologies has an-
nounced the start of commercial production at one of its units in Germany. Given the product mix
which is predominantly machined casting for engine and transmission components, the European
operations enjoy higher operating profit margins of 15 per cent as compared to the metric in India
which is pegged at 12.5 per cent. Europe accounts for 30 per cent of the company's consolidated
revenues.The stock will continue its upward journey. Buy.
Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may have investment in this
SMART
INVESTMENT
SMART TIPS Smita N. Zaveri
DCW (Rs. 35.00) (Code: 500117) :- The shares of this B group listed specialty chemi-
cals producer have face-value of Rs. 2. The share touched a 52-week high of Rs. 40 and low of Rs.
19. The share has jumped 25% in the past month in anticipation of increased capacity utilisation.
The company has invested Rs. 800 crores for capacity expansion in past four years, and is focus-
ing more on caustic soda and basic chemicals such as PVC. The company has developed red
pigment in partnership with MNC Huntsman. The company reported strong numbers for second
quarter. It reported profit of Rs. 8.94 crores and EPS of Rs. 0.41 on turnover of Rs. 336 crores. The
company also reduced its debt by 17% to Rs. 605 crores. The stock can be seen crossing the 52-
week high price in the short term and touch Rs. 150 in the medium term.
JK Paper (Rs. 95.00) (Code: 532162) :- The shares of this paper and paper products
company are listed in the B Group and have face-value of Rs. 10. The share touched a high of Rs.
102 and low of Rs. 40 in the last 52 weeks. The company has production units in Surat and Odisha.
It has a network or 200 distributors and over 3,500 dealers. It is the largest player in copier paper
segment, and has strong presence in coated paper and packaging board segment. For the Sep-
tember quarter of FY 2017, JK Paper reported income of Rs. 721 crores, net profit of Rs. 44 crores,
and EPS of Rs. 2.96. It has reported profit of Rs. 71 crores in the first half of this year as against Rs.
80 crores in the whole of last year. The shares are trading at a PE multiple of 18.4. The stock can
be seen around Rs. 150 in the next 2-3 quarters.
Trident (Rs. 62.00) (Code: 521064) :- The shares of this B group listed textiles seg-
ment company have face-value of Rs. 10. The share touched a high of Rs. 69 and low of Rs. 37 in
the last 52 weeks. Trident Group has presence in textiles, paper and chemicals. It is the leading
manufacturer of terry towels in the world. Trident is benefiting the most from the quality issues
facing its rival Welspun in international markets. The company has reported very good numbers for
December quarter. Its income rose 26% to Rs. 1,139 crores, EBIDTA was up 30% to Rs. 233
crores, profit was up by 26% to Rs. 79 crores, and EPS was Rs. 1.54. Its performance in the first
nine months of the fiscal has also been very good. The stock can be seen near Rs. 100 levels in
the medium to long term.
PPAP Automotive (Rs. 180.00) (Code: 532934) :- The shares of this auto parts
maker are listed in the B group and have face-value of Rs. 10. In the last 52 weeks, the share
touched a high of Rs. 204 and low of Rs. 109. The company makes automotive sealing systems,
interior and exterior injection moulded products for passenger cars, which account for 95% of its
total business. The company is a key supplier for various new models such as Kwid, Baleno,
Innova variant, Ignis, Vitara, Brezza, Honda City, Honda Jazz, among others. For September quar-
ter, company's sales grew 2% to Rs. 82 crores, OPM was up 30 basis points to 8.5%, while net
profit jumped 16% to Rs. 5.27 crores. Growing demand for automobiles in the days ahead will
boost its business. The stock is trading at 11.1 times the estimated earnings of Rs. 14 per share. It
can be seen crossing Rs. 200 in the short to medium term and touching fresh highs.
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 20th January 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
SMART
INVESTMENT
Smart super duper - Dilip K. Shah
GSFC (Rs.116.00)(Code:500690) :- Government of Gujarat promoted chemical and

fertilizer company has witnessed poor results in the first half of FY2017 in which its income has
come down from Rs2846.66 crore to Rs2719.92 crore, while profit has also come down from
Rs243.54 crore to Rs171.31 crore with EPS of Rs4.30. It may perform better in the next half due to
good monsoon and increasing demand of Rabi crop. The Government's focus on agriculture and
efforts to solve issues related to subsidies may prove beneficial for the company. The stock has
witnessed a good consolidation in last few days making it attractive for investment at current mar-
ket rate. It is believed that people close to the development are buying the stock.
Techno Electric & Engg. (Rs.346.00) (Code:533281) :- Techno Electric and
Engineering is active in EPS, Renewable Energy and building transmission linkages. The promot-
ers hold 57.98% and public hold 42.02% stake in the country. The stock prices remained between
Rs360 and 209.05. As against equity of Rs11.42 crore the company has reserves of Rs1003.08
crore. In September quarter, the company's income increased from Rs253.08 crore to Rs367.61
crore, while profit increased from Rs46.71 crore to Rs70.60 crore. The stock is being quoted at P/
E of 14. FIIs and DIIs hold considerable stake in the company. The stock can be bought in two-
three phases from long term outlook.
Avanti Feed (Rs.586.00) (Code:512573) :- It is one of the leading exporters of sea
food. It has forged joint venture with Thailand's Union Frozen Products PCL. It exports crabs, fish
and other sea food products. It owns units at Valsad in Gujarat and in Andhra Pradesh. As against
equity of Rs9.08 crore, the company has reserves of Rs375.45 crore. The promoters hold 43.94%
and public hold 56.06% stake. In September quarter, the company's income increased from
Rs532.95 crore to Rs713.16 crore, while profit decreased from Rs44.33 crore to Rs37.34 crore. It is
100% export oriented company. It may witness new high, so can be bought in phased manner.
Bajaj Corp (Rs.297.00) (Code:533229) :- Kushagra Bajaj headed company produces
hair oil. The company's portfolio includes Bajaj Almond Drops, Bajaj Keshkala, Parbat, Bajaj Brahmi
Amla, Bajaj Amla Shikakai, Bajaj Jasmin along with Bajaj Red Tooth pest. The promoters hold
66.86% and public hold 33.14% stake in the company. FII and DII hold considerable stake. In the
third quarter, the company's income decreased from Rs213.16 crore to Rs186.91 crore, while profit
increased from Rs49.59 crore to Rs57.80 crore. It is facing competition from Patanjali so valua-
tions have come down. So it can be considered for investment.
Disclosures as per SECURITIES AND EXCCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may have investment in this
SMART
INVESTMENT
A.J. Diwan (Mumbai)
Diwan-E-Khas E-mail : divanconsultancy@rediffmail.com
Range bound market

Last couple of day's market is moving both sides but not sustaining at higher levels. Nifty is moving
between 8200 and 8450. 8480 is one resistance level.
What we have witnessed up to Wednesday that Sensex moving up by 180 points and profit taking
comes. Index range is 27100 and 27380 for few days. Even Dow Jones also failed to cross 20000 mark
and fall almost 200 points from there.
FII's figures also not indicating sure up trend. GST delayed to 1/7/17. The important event is budget
expected on 1/2/17.
The most talked is capital gain tax introduction. It seems that long term capital gain tax definition may
change to two years from one year.
RBI may consider rate cut in next meeting after Feb/17.
In the uncertain we like two shares for long term investment.
HUL : - It is a good managed company. In December 16 share price touched low at 781. This was also
low in 2016. The share price has not broken this level. We find some buying in counter. Up to Wednesday
it touched high of Rs.856. This price above 200 days moving average. The rise of share price in last two
months has not put share in over bought zone.
Investor may buy around 850 with stop loss at 810 with target price of Rs. 940 in next three/four months.
Another share is Tata Elaxsi :- It is another good long term share to pick up. In last Feb 16 share price
has touched high of Rs. 2403.after share has gone down to Rs.1040. Now slowly it is showing buying. Now
any deep should be considered as buying opportunity. It has crossed Rs.1500 level with volume. In Next
Three / Four months share may go up to Rs.1675 level. If budget is bad than keep stop loss of Rs.1450.
The corporate results are mixed and Reliance lost Rs. 50 after results and Infosys also.
BUY.... BUY....BUY TIPS OF THE WEEK

Co. Name Code Price Co. Name Code Price
Trident 521064 62.00 Vakrangee 511431 303.00
Sterlite Tech. 532374 107.00 Avanti Feeds 512573 568.00
J K Paper 532162 95.00 Can Fin Home 511196 1681.00
DCW 500117 35.00 K P Energy 539686 366.00
Kalpataru P. 522287 265.00 CESC 500084 687.00
Linc Pen 531241 279.00 Techno El. 533281 346.00
Lakshmi V.Bk. 534690 138.00 Yes Bank 532648 1358.00
Power Grid 532898 199.00 Timken (I) 522113 633.00
Gabriel India 505714 108.00 E-Clerx 532927 1489.00
Aban Off. 523204 247.00 PVR 532689 1267.00
Gail India 532155 459.00 SRF 503806 1645.00
Shemaroo 538685 405.00 Oil India 533106 327.00
Motherson S. 517334 326.00 Force Motors 500033 4295.00
SMART
INVESTMENT
NIKHIL BHATT
MARKET TREND (+919979380808)
WWW.INVESTMENTPOINT.IN
PERIOD : 23-1-2017 to 27-1-2017
NIFTY FO RANGE @ 8282 TO 8404 POINT IN SHORT TERM…!!!

Dear Friends,
NIFTY FO CLOSED @ 8363 AS ON 20.01.2016..!!
NIFTY FO has resistance at 8383 - 8404 Level; above which other resistance levels are at 8417
- 8440 Level with highly Volatile Trend.
In Downside support levels are at 8330 - 8303 Level; below 8303 Level, other support levels are
at 8282 - 8260 Levels. I am positive for next week above 8505 Level but be with the trend. Let the
market decide further moves. As we are saying from many days Buying is suggested in falls only...and
it's still a better strategy in the given Scenario...!!! Regarding long term positions, it is preferable to
remain cautious now...!!
If NIFTY crosses 8404 Level, again then the upper side target is quite high and it may touch
8440 Level in short term...!!!
Golden Stocks for the Period : 23-1-2017 to 27-1-2017
1. Yes Bank (1360) : It is suggested to buy @ Rs 1344 with SL of Rs 1331 for the target of
Rs 1383 - 1397; below Rs 1331 it can fall up to RS 1317 - 1303 levels. If it crosses Rs 1397 level
than expect nonstop rally up to Rs 1408....!!
2. Man Aluminium (84) : Operator based Game start in this stock, BUY @ Rs 80 With SL
of Rs 73 for the target of Rs 93 - 103 level below Rs 73 it can show further downfall up to Rs 66…!!!
3. Dalal Street Investment (103) : Buy delivery of this stock near @ Rs 96 with SL of Rs
90 for the target of Rs 117 - 123 level. It is very good for medium term position also…!!!
4. CSL Finance (185) : This stock is looking very good to buy @ Rs 173 with SL of Rs 164
for the target of Rs 197 - 208 Levels below Rs 164 is stock shall witness free fall…!!!
5. Harrison Malayalam (84) : Buy @ Rs 79 levels considering minor support of Rs 73
and stop loss of Rs 67 for an upper target of Rs 96 - 107 levels. Below Rs 67 it can slip up to RS 60
- 54 levels…!!!
6. Shalimar Paints (160) : Operator based buying has been there in this stock. Buy @ Rs
153 with SL of Rs 141 for the target of Rs 183 - 190 levels it is very good for long term position
also…!!!
7. Sunil Healthcare (90) : Trading point of view BUY @ Rs 86 With SL of Rs 81 for the
target of Rs 103 - 123 level below Rs 81 It can show further downfall up to Rs 73…..!!!
8. Sharda Plywood (151) : Buy delivery of this stock near @ Rs 144 with SL Rs 136 for
the target of Rs 173 - 180 level. It's very good for long term position also…!!!
9. Prakash Ind. (70) : For medium term buying is suggested @ Rs 66 with SL Rs 61 for the
target of Rs 78 - 88 level. Below Rs 61 it can show further downfall…!!!
10. Reliance (1027) : It is suggested to SELL with SL Rs 1053 for the target of Rs 1013 -
996 below @ Rs 996 it can slip up to Rs 990 - 973 level. Above Rs 1053 level will take the stock to
Rs 1064 - 1073…!!!
SMART
INVESTMENT
Primary Market - Dilip K. Shah
Primary Market is likely to become Vibrant after Budget in February: More than a dozen IPO in queue
In the beginning of Calendar Year 2017 much touted BSE Ltd's IPO will hit the market
This week one mainline IPO, Two SME IPO and One NCDs issue to enter into the market
BSE Ltd's Rs1243 crore IPO to create movement in the market this week
Reliance Mutual Fund's CPSE-ETF-FFO issue gets robust response from the investors
Super Fine Knitters' SME IPO that opened on January 16 will get closed on January 24
Madhav Copper's NSE IPO of Rs81 will open on January 23
Muthoot Fin's Rs1400 crore NCDs issue has opened on January 17
D'Mart to come up with Rs1800 crore issue and SIS to come up with Rs1000 crore issue
How and When will be allotment and listing in BSE Ltd's IPO
More than a dozen issues will raise Rs10,000 crore in near future
Kosmattam Fin's NCDs issue got 1.5 times subscription
The primary market is likely to become vibrant in the calendar year 2017. The mid-January has wit-
nessed improved movement in the market. Much talked about BSE Ltd's issue will hit the market. More-
over, two SME IPOs and one NCDs issues will be in the market.
CPSE-ETF's Rs6000 crore followon issue has got robust response. Maheshwari Logistic IPO has got
listed. The union budget is on February 1, so the mainline issues have been in Wait and Watch mode. More
than one dozen issues have got Sebi nod and are ready to join IPO bandwagon.
* Insight into last week's issues :-
• Maheshwari Logistics :- The issue with fixed price of Rs68 got listed on January 16 at price of
Rs71.80 and went up to Rs78.90 and down to Rs70.40 before closing at Rs76.15. It closed at Rs76.30 on
January 20, 2017.
• CPSE ETF's FFO :- Rs6600 crore FFO, with Rs5100 crore base price and Rs1500 crore green shoe
option, has closed on January 20. Though the exact details of subscription is not received, it is believed
that it has got bid worth Rs12000 crore, taking subscription to 2.5 times. Earlier, Anchor Investors like
Morgan St, Nomura, Kotak, SBI Bank and LIC had subscribed four times.
It is believed that non-anchor portion has also got Rs6000 crore bid, which is twice the reserves of
Rs3000 crore. PFS and retail investors have invested heavily in non-core segment. Retail investors will be
given preference in this issue. More than 2 lakh investors from 300 cities and towns have participated in
Reliance Mutual Fund CPSE ETF gets an Reliance Mutual Fund's issue. More details will
overwhelming response as the issue gets be *published later.
This week's IPOs:-
oversubscribed by wide margin • BSE Ltd's main board issue :- The oldest
- CPSE ETF FFO gets bids of Approx Rs. 12000 Cr.
stock exchange of India was set up in 1875. It
Over 2.5 the base issue size of Rs. 4500 Cr.
ranks third in the world in terms of exchange
- Anchor Investors submitted bids of Rs. 6,000 crore
Morgan Stanley, Nomura, Kotak MF, SBI Bank, LIC amongst currency option and future contracts. In terms
prominent domestic and of Market Capital it ranks at No.10 in the world,
foreign institutions that participated as anchor investors. but it is No.1 in terms of number of companies
- Non-Anchor portion received bids of Rs.6, 000 crore listed on it.
2 times of Rs. 3,000 crore reserved in the issue. It is believed that the BSE was gearing up
- Retail Investors to get first preference and assured allotment for IPO for last seven years but it had to delay
as part of the CPSE ETF FFO norms the issue for one reason or another. Now
- Investors across all categories offered 5% upfront discount
SMART
INVESTMENT
Main - line IPO (Non SME)
Sr Company Issue Open Dt. Issue size Offer price Min. Rs. 1,00,00 Rs. 2,00,000 Listing Lead Rating Remark
Issue Close Dt. (Rs. Cr.) (Rs.) App. Limit Limit Manager %
1. BSE INDIA 23-1-2017 OFS 805 to 806 18 Shares 108 Shares 234 Shares BSE Axis Cap., Edelweiss 45 %
LTD. 25-1-2017 1,54,27,197 (F V. Rs. 2) Rs. 14,508 Rs. 87,048 Rs. 1,88,604 NSE Motilal Os., Nomura Apply for
(Book Building) Eq. Share SBI Cap., SMC Capital Medium to
(Rs. 1243 Cr.) SPARK Capital Long Term
Rs1243 crore issue will open on January 23 Gray Markets Premium

and clos on January 25. The offer price is fixed IPOs Name Offer Price Premium Kostak Price
at Rs805-806. So the wait is over. It will unlock (Rs.) (Rs.) Min. Appl. (Rs.)
value for the old shareholders and new inves- BSE 805 to 806 120 to 122 750 to 800
tors will get a chance to become shareholders. CPSE ETF : Rs. 2 Lakh Form Kostak Price Rs. 2800 /3000
The stock was being traded at Rs150-160 at (FFO) Rs. 1 Lakh Form Kostak Price Rs. 1400 / 1500
one point of time. However, foreign stake hold- Don't subscribe IPO only on the basis of Grey premium.
ers will not get benefit because of depreciated Before Investing check the fundamentals of IPO
rupee. The valuation seems reasonable. BSE For latest grey market premium please check everyday
will be benefitted from International Exchange www.smartinvestment.in
in GIFT City and Sebi's recent announcement
that the stock exchanges will not have to part
with 26% of annual profit towards Settlement BSE Limited allots Rs. 373 crore to anchor
Guarantee Fund (SGF). investors at Rs. 806 per equity share
Subscription :- In retail category, it may get Anchor investors include Portion Anchor investors include Portion
Capital World 18.77%, Principal MF 1.37%
2.50 times to 3 times subscription. In QIB and Sundaram MF 2.60% Eastspring 1.87%
HNI categories, 50/100 times subscription is ex- GP Emerging Markets 1.30% Canara HSBC OBC Life 1.37%
pected. Massachussets Institute 1.34% HDFC MF 5.30%
University of Notterdam 2.36% Reliance Capital Trustee 5.30 %
Allotment :- Allotment will take place on The Washington University 1.93% Birla Insurance 2.60%
January 31. Out of two or three applicants, one Calamos 1.37% L&T MF 2.60%
IDFC MF 1.37% Kuwait Investment 4.83%
may get 18 shares. ICICI Pru MF 11.90% FIL Investment (Mauritius) 4.83%
Refund :- The fund will be unblocked from Goldman Sachs Asset 6.97% DSP Blackrock Alternative 3.94 %
ASBA on February 1 and shares will be cred- Citigroup Global Markets 2.60 % Birla Sun Life Trustee 3.94%
Kotak MF 2.60%, SBI MF 4.31%
ited in account on February 2. Bajaj Allianz 2.60%
Listing :- The issue may get listed on Feb-
ruary 3 around Rs900 to 925. It may cross Subscription Figures of
BSE India Ltd.
Rs1000 after listing. More details are given in Retailers may apply Kosamattam Finance NCDs
separate box. Shares Amt. Shares Amt. No. Shares Issue
* NCDs issues:- 18 14508 126 101556 Offered/ Subscribe
• Muthoot Fin :- South India-based Gold Fi- 36 29016 144 116064 Reserved 20-1-2017
54 43524 162 130572 Category I 150000 0.00
nance company is entering into the debt mar- 72 58032 180 145080 Category II 600000 0.89
ket for 11th time. In Rs1400 crore issue, base 90 72540 198 159588 Category III 750000 2.30
price is Rs200 crore and green shoe option is 108 87048 216 174096 Total 1500000 1.50
Rs1200 crore. Moreover, Rs100 crore unse- 234 188604
cured debentures are also offered. ICRA and
CRISIL have given AA/Stable ratings. More Allotment & Listing Process of BSE IPO
details are given in separate box. Issue Closes 25-1-2017
* SME Issues:-
• Super Fine Knitters :- The issue that Finalisation of Basis of Allotment 31-1-2017
opened on January 18 will get close on Janu- Refund / Unblocking of Fund from ASBA 1-2-2017
ary 28. The company has offered 34 lakh eq- Credit of Equity Shares to Demat A/c. 2-2-2017
uity shares with fixed price of Rs12 to raise Listing on BSE / NSE 3-2-2017
Rs4.08 crore. More details are given in a sepa-
SMART
INVESTMENT
NSE SME IPO
Sr Company Issue Open Dt. Issue size Offer price Minimum Rating Remark
Issue Close Dt. (Rs. Cr.) (Rs.) Applications Size %
1. Madhav 23-1-2017 5,53,600 Eq. 81 1600 Eq. Shares 35 %
APPLY
Copper 27-1-2017 (Rs. 4.48 Cr.) (Rs. 1,29,000) FOR LONG TERM
Non Convertible Debenture (NCD) Issues at a Glance

Sr Company Issue Open Bond size F.Value Min. Listing Rating Recomm.
Issue Close (Rs. Cr.) (Rs.) App.
17-1-2017 Rs. 200 Cr. 1,000/- 10 NCDs BSE AA/Stable
Subscribe
1. Muthoot 17-2-2017 Base Issue (Rs.10,000) BY
Finance (Rs. 1200 Cr. Lead manager : ICRA &
Green Shoe Option) Edelweiss Fin., AK Capital CRISIL
Total : 1400 Cr.
BSE SME IPO

Sr Company Issue Open Dt. Issue size Offer price Minimum Rating Remark
Issue Close Dt. (Rs. Cr.) (Rs.) Applications Size %
1. Super Fine 18-1-2017 34,00,000 Eq. 12 10000 Eq. Shares 38 %
APPLY
Knitters 24-1-2017 (Rs. 4.08 Cr.) (Rs. 1,20,000) Medum to Long Term
rate box.
• Madhav Copper :- NSE-SME segment issue will open on January 23 and
close on January 27. The company has offered 5,53,600 equity shares at fixed
Listing Information of
price of Rs81 to raise Rs4.48 crore fund. Maheshwari Logistics
* Insight into new isues:- NSE SME NSE SME
• D'Mart IPO :- One more company of Radha Krishna Damani Security and Listing Date 16-1-2017
Intelligence Services Ltd (SIS) is gearing up for Rs1000 crore issue. CX Part- Offer Price Rs. 68.00
Listing Price Rs. 71.80
ners hold considerable stake in the issue.
Listing Day High Rs. 78.90
Way paved for Insurance Companies' listing:- Union Cabinet has approved
Listing Day Low Rs. 70.40
a proposal for listing of Five General Insurance companies. The Government's
Listing Day Close Rs. 76.35
stake will be brought down to 75% in these companies like New India Insur- CMP (20-1-17) Rs. 76.30
ance, National Insurance, Oriental Insurance, United Insurance and re-insur-
ance company GIC.
Grey Market Movement

Huge deals witnessed in BSE IPO and CPSE ETF FFO
BSE Ltd IPO premium touches Rs 120/122, and form rates are at 850 level
CPSE-ETF's follow-on issue fetches Rs 3000 for form worth Rs 2 lakh
and Rs 1500 for Rs 1 lakh form
For the first time in history of grey market, mutual fund's follow-on issue has been able to get
premiums.
BSE Ltd :- The grey market premiums started at Rs90/95, while minimum application rates
were at Rs600/650. However, the premiums have now spurt to Rs120/122, while application form
rates have gone up to Rs800. More upward movement is expected.
CPSE-ETF FFO :- Reliance Mutual Fund and the Government of India's Disinvestment plant
started with the Follow-on issue. Form of Rs2 lakh were quoted with premium of Rs3500/3600,
but it went down to 2800/3000. Rs1 lakh form were quoted at Rs1400/1500. The issue get closed
on Friday.
SMART
INVESTMENT
BSE Ltd IPO
Opens on 23rd January & Closes on 25th January 2017
Price Band Rs. 805 to 806; Listing on NSE
BSE LTD (erstwhile known as The Bombay Stock Exchange) is the premier and the old-
est stock exchange of Asia (established on 9th July 1875) and has become the most trust-
worthy brand as far as stock market is concerned and has become the synonyms with its
Sensex and Dalal Street.
Today BSE is the world's largest exchange by number of listed companies (5,329), India's
largest and world's 10th largest exchange by way of market capitalization, with US$ 1.7 tril-
lion in total market capitalization of all listed companies and the world's fastest stock ex-
change. It has now also become the first stock exchange to go public in India and has thus
become the first mover. BSE has diversified products for trading is also providing IT services
and solutions, listing business, marketing business, data business etc.
To explore valuations of its stakeholders and listing benefits, BSE is coming out with its
maiden IPO of 15427197 equity share of Rs. 2 each through offer for sale by existing stake-
holders via book building route with a price band of Rs. 805-806. BSE will mobilize Rs.
1241.89 to Rs. 1243.43 crore (based on lower and upper price band). Issue opens for sub-
scription on 23.01.17 and will close on 25.01.17. Minimum application is to be made for 18
shares and in multiples thereon, thereafter. Post allotment shares will be listed on NSE only.
The offer shall constitute up to 28.26% of the fully diluted post-offer issued share capital of
BSE.
BSE has issued shares at a price of Rs. 5200 per share in May 2007 and April 2008 and at
Rs. 383.30 per share in June 2015 (for Re. 1 paid up) to foreign investors/strategic partners
and has also issued bonus shares in the ratio of 12 shares for every 1 share held. For FY 16
it has paid dividend of 750% and hopes to maintain similar dividend policy post listing.
Global coordinators and BRLMs to this offer are Edelweiss Financial Services Ltd, Axis
Capital Ltd., Jefferies India Pvt Ltd, Nimura Financial Advisory and Securities (India) Pvt Ltd.,
Motilal Oswal Investment Advisors Pvt Ltd., SBI Capital Markets Ltd, SMC Capital Ltd., Co-
BRLM is Spart Capital Advisors (India) Pvt Ltd. Karvy Computershare Pvt Ltd is the registrar
to the issue.
Financial Performance :- On performance front, (on consolidation basis) BSE has posted
total revenue / net profit of Rs. 529.82 cr. / Rs. 159.44 cr. (FY14), Rs. 624.75 cr. / Rs. 151.35
cr. (FY15) and Rs. 658.27 cr. / Rs. 159.15 cr.(FY16). For H1 of current fiscal it has posted net
profit of Rs. 124.75 cr. on total revenue of Rs. 383.47 cr. As this offer is secondary one, equity
stands at Rs. 10.74 cr.
BRLM's Performance :- On BRLM's front, eight merchant bankers associated with the
offer have handled 34 issues in past three years out of which 10 issues closed below the
issue price on listing day.
SMART
INVESTMENT
Other side of BSE IPO
Its track record for the Equity cash & Derivatives segment is very low
BSE is growth & Margins have remained under pressure
Last 3 Years profit & RONW have declined: Listing on NSE Only
For FY 17 there may be a good benefit from regulatory charges revision
Balance Sheet is strong with low debt and high reserve
PE is at a 17 P/BV 1.8 means valuation seems reasonable
Investors may apply this IPO for medium to long term
" BSE IPO shares to be listed on NSE Only
" As total IPO is offer for sale, the exchange will not receive any pro-
ceeds of the offer.
" There is no listed peer for the exchanges.
" Last 3 Years profit have declined
" For the Equity cash segment, the market shares around 13% is very
low
" Its track record in Equity derivatives segment remains underwhelming.
" Its growth & margins have remained under pressure in the recent past
" RONW is going down constantly. IN FY 2014 it was 5.68%, in 2015 -
5.27% & in 2016 only 5 %
" Note: For FY 2017, there may be a good benefit from revision of some
regulatory charges. On financial front companies balance sheet is strong with
low debt & high reserve, At Rs. 806, the issue is priced at around 17 times
expected candidate earning for FY 17, which is far lower than MCXs valuation
of 40 times earning far lower than mcx's valuation of 40 times earning & inter-
national exchange trade at 19 times
" Recommendation : High listing gain is uncertain but considering rea-
sonable valuations & attractive dividend policy investors may apply for this
IPO for medium to long term investment.
SMART
INVESTMENT
Muthoot Finance NCD
Issue of Rs. 1400 Cr. Opened on 17th January 2017
Minimum Application Rs. 10,000 ; Listing on BSE ;
Coupon rate Rs. 8.50 to 9.25
Considering AA/Stable rating, Low Debt - Equity ratio
& Lucrative coupon rate, One can apply
Muthoot Finance Ltd (MFL) - a frequent visitor to the debt market is once again bringing its
NCD offer.
MFL is primarily a gold finance company has diversified its money transfer services, pro-
viding cash withdrawal through while label ATMs etc. To meet its business funding needs for
onward lendingsand meeting general corpus fund needs, it is coming out with s a Tranche I
of its 11th issue in last five years. The company is aiming to raise Rs, 1400 crore as a shelf
limit with a secured NCD worth Rs. 1300 crore and unsecured NCD worth Rs. 100 crore.
Issue opens for subscription on 17.01.17 and will close on or before 17.02.17. Under Tranche
I the base size is Rs. 200 crore and green shoe option to retain further Rs. 1200 crore thus
making a total issue of Rs. 1400 crore.
TheNCDs are having a face value of Rs. 1000 each and tenures of 400 days, 18 months,
24 months, 36 months and 60 months. It offers coupon rates ranging from 8.50 per cent to
9.25 per cent and interest payment options of Monthly, Annual and Cumulative, depending
on the choice of investors and category. Minimum application is to be done for 10 NCDs (i.e.
Rs. 10000) and in multiple of 1 NCD (i.e. Rs. 1000) thereon, thereafter. Issue is lead man-
aged by Edelweiss Financial Services Ltd and AK Capital Services Ltd. IDBI Trusteeship
Services Ltd is the Debenture Trustee and Link Intime India Pvt Ltd is the registrar to the offer.
Post allotment, NCDs will be listed on BSE. CRISIL and ICRA both have rated this offer as
AA/Stable indicating high degree of safety regarding timely servicing of financial obligations.
Post issue, company's debt-equity ratio will stand enhanced to 3.57 times from 3.32 times.
Financial Performance :- For last three fiscals, the company has shown setback for FY15
and its net NPAs have gone up from 1.57% to 2.46%. However, the company has loyal inves-
tors backing in southern region.
Recommendation :- Considering its rating and the debt-equity ratio, investors looking for
steady interest income may consider investment as its coupon rates are lucrative.
(SEBI registered Research Analyst-Mumbai).
(Email: dilip_davda@rediffmail.com)
SMART
INVESTMENT
Super Fine Knitters BSE SME IPO
Opened on 18th Jan & Closes on 24th Jan. 2017
Offer price fixed at Rs. 12 ; Listing on BSE-SME platform
Asking PE at 14 seems reasonable; Apply for medium to long term
Super Fine Knitters Ltd (SFKL) is a multi-divisional textile unit engage in the busi-
ness of manufacturing knitted apparels for itself as well as for national and international
brands and is a well-known supplier of knitted fabrics for large companies in India
involved in manufacturing and exporting knitted apparels. It sells all its products under
the 'Super Star' brand.
To repay in full/part Company's debt, it is coming out with a maiden IPO of 3400000
equity share of Rs. 10 each at a fixed price of Rs. 12 per share to mobilize Rs. 4.08
crore. Issue opens for subscription on 18.01.17 and will close on 24.01.17. Minimum
application is to be made for 10000 shares and in multiples thereon, thereafter. Post
allotment, shares will be listed on BSE SME platform. Issue is solely managed by
Guiness Corporate Advisors Pvt Ltd and Cameo Corporate Services Ltd is the registrar
to the issue. While most of the equity is issued at par, it also issued some equity at a
price of Rs. 19 per share in 2013 and at a price of Rs. 20 in 2014. Post issue its current
paid up equity capital of Rs. 8.99 crore will stand enhanced to Rs. 12.39 crore.
Financial Performance :- On performance front, company's turnover and net profits
for the Fiscal ended March 31, 2014, 2015, 2016 and for the six months period ended
September 30, 2016 was Rs. 7,1.15 cr. / Rs. 0.49 cr., Rs. 7,6.27 cr. Rs. 0.54 cr., Rs.
84.91 cr. / Rs. 0.64 cr. and Rs. 43.58 cr. / Rs. 0.52 cr. respectively. If we annualize
latest earnings and attribute to the fully diluted equity post IPO then asking price is at a
P/E of around 14 plus against industry's composite P/E of 27 that augurs well.
Lead Manager Performance :- On merchant banker's front, this is the 26th mandate
from its stable and past issues have shown erratic movements post listing and 4 IPOs
out of them suspended from trades.
Recommendation : Issue appears to have been priced reasonably. Risk savvy
cash surplus investors may consider medium to long term investment.
SMART
INVESTMENT
Madhav Copper NSE SME IPO
Opens on 23rd Jan & Closes on 27th Jan 2017
Offer price fixed at Rs. 81;
Listing on NSE - SME Emerge platform
Asking PE is at 14 plus;
Investors may consider this IPO for long term
Madhav Copper Ltd (MCL) is engaged in the manufacturing and supply of enameled
copper wire and poly wrap submersible winding wire under the brand name ?Madhav
Copper?. MCL also offers enameled, copper rod profile and poly-wrap submersible
winding wires suitable for industry application in transformers, motors, alternators,
contactors, and relays. Company's product is also suitable for use in high speed coil
winding machines.
To meet its working capital requirement and the general corpus fund needs, the
company is coming out with a maiden IPO of 553600 equity share of Rs. 10 each at a
fixed price of Rs. 81 per share to mobilize Rs. 4.48 crore. Issue opens for subscription
on 23.01.17 and will close on 27.01.17. Minimum application is to be made for 1600
shares and in multiples thereon, thereafter. Post allotment, shares will be listed on NSE
SME Emerge platform. Its present paid up equity capital is issued at par. Post issue its
current paid up equity capital of Rs. 1.50 crore will stand enhanced to Rs. 2.05 crore.
The issue will constitute 26.96 per cent and 25.56 per cent (respectively) of the fully
diluted post issue paid up equity share capital of the company. Issue is solely man-
aged by Pantomath Capital Advisors Pvt Ltd and Bigshare Services Pvt Ltd is the
registrar to the issue.
Financial Performance :- On performance front, the company has posted turnover/
net profit of Rs. 1.12 cr./ Rs. (-0.43 cr.) (FY14), Rs. 19.69 cr. / Rs. 0.35 cr. (FY15) and
Rs. 35.64 cr. / Rs. 0.66 cr. (FY16). For the first half of current fiscal, it has earned net
profit of Rs. 0.58 crore on a turnover of Rs. 23.68 cr. If we annualize the latest earnings
and attribute to fully diluted equity post IPO then asking price is at a P/E of 14 plus and
is just around P/E of its peers.
Merchant Banker Performance :- On merchant banker's front, this is the 34th man-
date from its stable and past mandates have shown mixed trends post listing.
Recommendation : Issue appears to have been reasonably priced. Cash surplus
investors may consider long term investment.
SMART
INVESTMENT
Smart Best Buy S. N. Zaveri
Gail India up on announcement of consideration of Bonus share

Tata Elxsi jumps on reports of test of driverless car
Timken India : Strong business with market leadership
PVR will rally as Warburg Pincus picks up 14% stake
CanFin Homes jumps on strong Q3 results
Gail India (Rs. 459.00) (Code : 532155) (F. V. : 10.00) :- Gail India has scheduled
a board meeting on January 25, 2017, to consider issuance of bonus shares and fund raising by
issuance of bonds on private placement basis.GAIL's transmission volumes are expected to increase
at 9.4 per cent CAGR over FY16-19E to 121 mmscmd in FY19E, due to incremental LNG capacity
coming on stream and higher demand for contracted LNG, on account of RasGas Petronet deal
leading to lower long-term LNG prices. GAIL's profit to increase at 24.6 per cent CAGR over FY16-
19E to Rs 4,441.30 crore in FY19E. Reliance, HDFC and Kotak Mahindra Mutual Fund are the top
three fund houses which have invested in the stock of the company. Reliance Mutual Fund is the top
fund house which has invested in the stock. The stock touched a 52 week high of Rs 471 last week
and a 52 week low of Rs 290.65 on 29-Feb-2016. The promoters holding in the company stood at
56.11 % while Institutions and Non-Institutions held 40.18 % and 2.89 % respectively. Buy.
Tata Elxsi (Rs. 1482.00) (Code : 500408) (F. V. : 10.00) :- Tata Elxsi is looking
to test an autonomous, or driverless, car out on the roads of Bengaluru. This would be a first in the
country. Currently, all major automobile manufacturers as well as technology firms of the Silicon
Valley, such as Google, Apple, Uber and Tesla, are building and testing autonomous vehicles.
Experts believe cars that will drive themselves could be as common on the streets as their human-
driven older cousins by 2025. Tata Elxsi works with carmakers and their specialised component
suppliers. Tata Elxsi has been working on autonomous technology for some time now. In 2014, for
instance, a group of engineers from the company modified a Tata Motors Zest sedan and tested it
on a pre-determined route. Company has, recently, announced one of the biggest recruitment drive
also. The stock is already in momentum. Buy.
Timken India (Rs. 633.00) (Code : 522113) (F. V. : 10.00) :- Timken India is
a bearings maker and subsidiary of US-based Timken. It has shown better revenue growth than
peers over the past four years fuelled by higher exports and strong parental support.Considering
the opportunity arising from the expansion plan of Indian Railways and Hindustan Aeronautics
(HAL), the company is expected to retain the growth momentum in the coming quarters. Timken
India's revenue grew by 12.3% annually in the past four years compared with the 2.8% industry
growth. The size of the bearings industry in India is around Rs 10,000 crore, out of which 65% is
used in industrial application and the rest in transport. The company increased the share of exports
in revenue to 35% in 2015 from 25% three years ago. The company enjoys more than 50% market
share in railway freight application. It is also a technical partner for Indian Railways for dedicated
freight corridor (DFC) project. The wagon building for DFC is likely to start from 2017. The stock is
trading at around Rs.650. Accumulate.
PVR (Rs. 1267.00) (Code : 532689) (F. V. : 10.00) :- Global private equity firm
Warburg Pincus on Wednesday announced its affiliates have acquired an equity stake of 14 per
cent in multiplex chain PVR for about Rs 820 crore. The stake is being acquired from affiliates of
private equity firm Multiples who will remain a long-term investor with a 14 per cent equity stake
and the current promoters, who will continue to drive the business and remain the largest share-
SMART
INVESTMENT
holders with a shareholding greater than 20 per cent. Bijli family continues to be the single majority
stakeholder and denied any plans to exit the company in the foreseeable future.During December
quarter, Dangal has collected Rs 350 crore even as there is still cash crunch in the market.The
percentage of sales through online channels had risen to 58 percent since the demonetisation
announcement. The impressive line-up of films in the March quarter. Films such as Badrinath Ki
Dulhaniya, Jolly LLB 2, Kaabil, OK Jaanu, Passengers (3D), Raaes, Rangoon, Sarkaar 3, and
Wolverine 2 (3D) are likely to generate higher footfalls. Buy.
CanFin Homes (Rs. 1681.00) (Code : 511196) (F. V. : 10.00) :- CanFin
Homes, last week, registered a rise of 41.3 per cent in net profit at Rs 59.60 cr for the third quarter
ended December 31. The company's net profit in the October-December quarter of previous fiscal
stood at Rs 42.18 crore. Total income of the company rose to Rs 349.64 crore in the third quarter of
the current fiscal as against Rs 282.36 crore in corresponding quarter year ago. During the quarter
loan approvals grew by 33 per cent, disbursements 31 per cent and outstanding loan book by 28
per cent.Net NPAs were contained at 0.01 per cent (0.04 per cent), and provision coverage stood
at 94 per cent (85 per cent in the year-ago period).CanFin Homes has also announced reduction in
home loan rates by 75 basis points (bps) effective January 18. So, there will be more disburse-
ments which might enhance its business. Accumulate.
(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
20th January 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
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SMART
INVESTMENT
Dalal Street Whispers - Dilip K. Shah
Chambal Fert. (Rs. 82.00) (Code: 500085) :- Fertilizer stocks are buzzing ahead of the Union Budget
and good monsoon. Some stocks are up by as much as 50%. Chambal's stock has gone up by 20%. It is
on investors' radar as promoters are increasing their stake.
HOEC (Rs. 71.00) (Code: 500186) :- The shares of this exploration company have risen by 10% de-
spite poor Q3 numbers. However, this is because it has received the long-pending forest clearance for
laying a 8-km pipeline for gas production.
Orient Green Power (Rs. 11.00) (Code: 533253) :- The stock surged 14% in view of reports that it
plans to merge its wind energy assets with IL&FS. The assets are estimated at Rs. 4,500-5,000 crores.
Monnet Ispat (Rs. 25.00) (Code: 513446) :- The stock is likely to remain in focus as it is believed that
JSW Steel, Blackstone, and Synergy Capital are in the race to acquire it.
MT Educare (Rs. 131.00) (Code: 534312) :- The delivery-based trading volume in the shares of this
education sector company has gone up to 72% in past few sessions. The share is attractively priced as
compared to its peers. It is focusing more in digital education and is expected to reap benefits of budgetary
announcements.
Edelweiss (Rs. 108.00) (Code: 532922) :- A strong breakout is being seen in the stock of this financial
services provider. Leading brokerages are recommending a buy with a target price of Rs. 122.
Uttam Galva (Rs. 31.00) (Code: 513216) :- According to reports, a joint venture of Aion Capital Part-
ners (Apollo Global Management) and ICICI Ventures is gearing up for taking over Uttam Galva. The com-
pany is in BIFR and has a debt of Rs. 5,500 crores, and Aion Capital will finalise the restructuring package
with lenders.
Omkar Specialty (Rs. 162.00) (Code: 533317) :- The promoters of this specialty chemicals producer
have secured release of 13.33% shares pledged with lenders.
Aarvee Denim (Rs. 42.00) (Code: 533068) :- Sixty-four per cent of the trades in the last five sessions
have been delivery-based. The company has been steadily reducing its debt for the past two years, while
operating profit has been on the rise. The company's Q3 results are expected to be strong.
Alembic (Rs. 36.00) (Code: 506235) :- This pharma player has reported turnaround results in third
quarter. The manner in which shares of small and midcap pharma stocks are outperforming, suggests that
the share would remain in limelight.
Sintex (Rs. 82.00) (Code: 502742) :- The company has reported weak numbers for Q3. However, the
share can be considered, as the company is mulling demerger of its textile business.
Agro Tech Food (Rs. 482.00) (Code: 500215) :- Company reported 33% rise in net profit in Q3. The
share price as well as trading volumes have shot up. The company is undertaking major development on its
land in West Bengal.
Duke Offshore (Rs. 115.00) (Code: 531471) :- The company has reported 57% jumped in net profit for
the third quarter. It has also bagged order for high speed crew boat from defence. The company is debt-free
and has healthy reserves.
Ruchi Soya (Rs. 27.00) (Code: 500368) :- The shares of this edible oil manufacturer are in limelight for
past two days. It is believed that it is tying up with Baba Ramdev's Patanjali, and will benefit from its
immense network.
Future Consumer (Rs. 22.00) (Code: 533400) :- This packaged food company has formed a joint
venture with Tilda Hain India for producing and selling food products in health and wellness category.
Movement is being seen in the stock.
SMART
INVESTMENT
High Risk High Return Shares - Dilip K. Shah
Gail (Rs. 459.00) (Code: 532155) :- The board of this gas major will meet on January 25 to
decide on bonus share proposal. There is likelihood of Gail announcing a generous bonus ratio as
with the exception of NBCC, a number of central PSUs have generously rewarded shareholders.
ICICI Prudential (Rs. 358.00) (Code: 540133) :- The company had disappointed investors after
its shares were listed at a discount post the IPO. However, the shares have been on the up-move
since December end. The insurer became a part of the Rs. 50,000-crore club after its shares touched
Rs. 351. The share will remain in focus in anticipation of IPOs of more insurance companies in the
days ahead and good quarterly performance.
Tata Steel (Rs. 454.00) (Code: 500470) :- A strong rally has been seen in metal-steel shares for
the past couple of months. Tata Steel shares have also surged to two-year highs in the rally. Re-
covery in demand, higher prices, and reduction in call rates will add current to the stock.
Salzer Ele. (Rs. 196.00) (Code: 517059) :- The shares of this electrical equipment manufac-
turer are shining as the promoters have increased their stake by 2.2%.
Crompton Greaves (Rs. 63.00) (Code: 500093) :- This heavy electric equipment manufacturer
has reported turnaround results in the third quarter, putting the share on market radar.
Indusind Bank (Rs. 1,226.00) (Code: 532187) :- This private sector bank reported better-than-
expected numbers for the third quarter. Moreover, promoters have increased their stake.
Supreme Infra (Rs. 109.00) (Code: 532904) :- The company has debt of Rs. 4,529 crores and
yearly interest cost is Rs. 360 crores. The company is gearing up to strategic debt restructuring
with the joint lenders forum as per a RBI scheme, which will have a positive impact on the stock.
Dhanuka Agri (Rs. 73.00) (Code: 507717) :- This agrochemicals producer has decided to buy-
back Rs. 39 crore worth of shares for Rs. 850 per share. There is a big difference between the
current price and offer price.
Indian Hotel (Rs. 106.00) (Code: 500850) :- The shares had corrected sharply due to the battle
between Ratan Tata and Cyrus Mistry. The company plans to raise Rs. 495 crores through issue of
NCDs.
PVR (Rs. 1,267.00) (Code: 532689) :- The share was in focus in last week as Dangal has
become a super hit. There are also reports that PE player Warburg Pincus is acquiring 14% stake
in PVR for Rs. 820 crores.
Yes Bank (Rs. 1,358.00) (Code: 532648) :- Market experts are highly bullish on the stock as
the Bank has reported terrific numbers for the third quarter. Edelweiss is recommending a buy with
a target price of Rs. 1,666, ICICI Securities Rs. 1,525, KR Choksey Rs. 1,441, Religare Rs. 1,600
and Motilal Oswal Rs. 1,575.
Aban Offshore (Rs. 247.00) (Code: 523204) :- This exploration company is reaping the ben-
efits of higher crude oil prices. With more cuts expected in crude output in the future by OPEC, the
share can be seen outperforming.
M & M (Rs. 1,191.00) (Code: 500520) :- This leading car, utility vehicles and farm equipment
manufacturer has acquired 71.5% stake in Turkish company Hisarlar for Rs. 127 crores. Tractor
sales are expected to go up as Budget is expected to focus a lot of agriculture sector.
Motherson Sumi (Rs. 326.00) (Code: 517334) :- The company's board has approved the ac-
quisition of a Finland-based truck wire manufacturer for US $ 609 million. Value buying can be
seen in the stock.
SMART
INVESTMENT
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Senior Astrologer
Dharmesh Joshi
Mob. : 9909941816
E-mail :
stockmarket@ganeshaspeaks.com
Sensex Predictions : Dt. 23rd January to 27th January
" Please consider 10 minutes plus and minus in each prediction, and act accordingly. " Ganesha
advises you to compare every prediction with the prediction of the previous time slot. "
23-01-2017 Monday :- " The Moon-Saturn conjunction may cause boredom and also slow
down the market process today. " From opening to 10.30 Nifty may pass time around the surface. "
Between 10.30 to 11.30 Nifty may try to bounce. " During the period hereafter, the trend will change
every 22 minutes, hence you are advised to do jobbing.
24-01-2017 Tuesday :- " Even today the Moon may be weak. " Trade as per your delivery
capacity today. " Around 9.37 buy Nifty, and around 10.54 sell Nifty. " Around 12.00 again sell
Nifty, and around 13.39 buy Nifty.
25-01-2017 Wednesday :- " Movement in Bank Nifty may be more, as compared to Nifty,
because the Moon and Mercury are in conjunction today. " Avoid taking a long position during the
initial one hour, as the margin may be less, foresees Ganesha. " During the next 1 hour, Nifty will
move upwards considerably, hence go ahead. " The period from 11.15 to 14.15 may be the most
risky and dangerous time slot of today, as you may not understand anything. Thus, buy-sell with a
margin of 2 rupees. " Between 14.15 to 15.30 expect a mixed trend, but this may be very confusing.
Beware - because very big ups and downs on both sides are foreseen.
26-01-2017 Thursday :- " The market will remain closed today on account of Republic
Day.
27-01-2017 Friday :- " The Moon may be weak, as today is Amavasya/No Moon Day. "
From 9.15 to 10.03 Nifty may go down slightly. " Between 10.03 to11.13 Nifty will go up slightly. "
From 11.13 to 11.51 shall be a 'No Trading Zone' declares Ganesha. " Between 11.51 to 12.51
overall Nifty will move upwards slightly. " From 12.51 to 14.03 Nifty may move downwards. " Be-
tween 14.03 to 14.40 Nifty may bounce. " From 14.40 till the closing bell, Nifty may be boring.
Hence, take a tea break.
SMART
INVESTMENT
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News Track
ICICI Prudential
and
WWF mulls forest staff protection
ICICI Prudential Life has joined hands with World Wide Fund for Nature-India
(WWF-India) to aid protection to front line protection staff, including forest guards,
foresters and range officers through ex-gratia funding in the event of their death
or permanent disability while on official duty. "Forest guards and other protec-
tion staff do a commendable job in protecting forests and wildlife. They face
challenges and risk their lives while carrying out their everyday duties. Protec-
tion is a must for every individual with responsibilities," ICICI Prudential Life
Insurance Managing Director and CEO Sandeep Bakhshi told reporters here.
"We are looking to extend this initiative to more than 15 states. We are also in
talks with other corporates for facilitating medical and hospitalisation for front-
line forest staff," WWF-India Secretary General and CEO Ravi Singh said. With
this initiative, this association aims to motivate and aid such foot soldiers, whose
work is beneficial to our country now and will create consequential and positive
impact for future generations
SMART
INVESTMENT
REVIEW OF “SMART PLUS NEWS LETTER”
Amazing 17% RETURN SMART GAIN
FOR SMART INVESTORS
Company Reccom. Weekly Ch. Company Reccom. Weekly Ch.
16-1-17 High (%) 16-1-17 High (%)
Timken India 622 663 6.59 Sadbhav Engg. 278 286 2.9
P. I. Industries 829 870 4.9 GHCL 265 278 4.9
Asian Paints 931 971 4.3 Tata Comm. 672 698 3.9
bharat Financial 662 690 4.2 GMDC 112 117 4.5
MCX 1190 1234 3.7 Hindustan Zinc 277 296 6.9
Vinati Organics 700 716 2.3 Ajanta Pharma 1794 1829 2
Bajaj Finserve 3011 3180 5.6 NMDC 143 147 2.8
Tata Elxsi 1398 1557 11.4 Indian Oil Corp. 350 361 3.1
APL Apollo Tubes 1007 1074 6.7 GSFC 114 121 6.1
Vindhya Tele 625 676 8.2 Gulf Oil 632 690 9.2
Kushal Tradlink 592 606 2.4 Indusind Bank 1214 1240 2.1
LIC Housing Fin. 530 548 3.4 Finolex Ind. 445 459 3.1
UPL 688 747 8.6 Adani Port 292 302 3.4
Dewna Housing 270 292 8.1 Anjani Port 172 176 2.3
Britannia Ind. 2950 3157 7 Deepak Fert. 243 284 16.9
Gail India 442 471 6.6 G. E. Shipping 381 410 7.6
Apar Ind. 632 656 3.8 Uni. Ply 204 223 9.3
Mah. Holiday 401 417 4 Sical Logistics 216 242 12
Endurance Techno 587 609 3.7 CCL Products 272 299 9.9
Jet Air. 391 418 6.9 Power Mech Pr. 442 473 7
Atlas Cycle 642 695 8.3 God. Properties 331 341 3
Gravita India 41.05 45 9.6 NHPC 28 30 7.1
Jubilant Food 843 899 6.6 Trident 64 68 6.3
Jay Bharat Maurti 365 373 2.2 Meghmani Organics 44 45 2.3
WPIL 385 401 4.2 Hind. Oil Explo 66 76 15.2
Indina Hume Pipe 376 385 2.4 Pitti Lamination 61 63 3.3
Federal Bank 72 79 9.7 Aarvee Denim 85 99 16.5
Power Grid 198 203 2.5 MEP Infra 40 43 7.5
Arvind Ltd. 368 377 2.4 PNC Infratech 105 108 2.9
Capline Point 391 421 7.7 Lancor Holding 28 30 7.1
Minda Industries 328 362 10.4 Sintex 85 91 7.1
Power Grid 197 203 3 Conart Eng. 40 43 7.5
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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 (%)
Date Stock Reco. Target Achieved Return 19th May ASM TECHNO 195 220 203 4%
Rate (Rs.) Rate (%) 27th May KUSHAL TRADE 145 175-225 605.45 318%
11th Sep NAVKAR CORP 166 185-190 225 36% 3rd June J M FIN 47 56-59-65 90.9 93%
11th Sep ECLERX SERVICES 1425 1600 1784 25% 9th June BAJAJ ELE 232 300 282 22%
11th Sep KSCL 457 530-550 544 19% 20th June GAEL 58 75-85 103.3 78%
24th Sep GHCL 142 165-200 299 111% 24th June IOL CHEM 136 175-275 156 15%
6th Oct CHENNAI PETRO 238 275-350 341 43%
1st July 16 IL&FS TRANS 78.5 95-105 124.8 59%
7th Oct HFCL 16.7 20-25 24.7 48%
7th Junly 16 NETWORK18 45.5 64-71 49.25 8%
12th Oct ARSS INFRA 36.5 50-54 114 212%
15th July 16 SARDA ENERGY 141 180-200 296.2 110%
14th Oct ASHOK LEYLAND 94.25 105-110 112.8 20%
22nd July 16 AARTI IND 553 620-625 765 38%
4th Nov LLOYD ELE 274 315-350 340 24%
28th July 16 MAGMA FIN 106 135-140 125.65 19%
16th Nov TANLA SOL 36.5 50 64.4 76%
3rd Aug 16 GARWARE WALL 453 535-540 650 43%
21st Nov PRIMA PLAST 83 100-125 272 228%
5th Aug 16 ION EXCHANGE 327 445-450 345 6%
26th Nov PRATIBHA IND 45 55 51 13%
16th Dec COMPETENT 140 185-190 219 56% 12th Aug 16 IOL CHEM 137 175-275 156 14%
21st Dec SUN PHARMA 750 1000 899 20% 18th Aug 16 SAMBANDAM SPI 113 130-140 143 27%
30th Dec MAN IND 98 130-170 SL -- 22nd Aug 16 SUBEX 12.65 16.5-18.4 13.5 7%
7th Jan SUNIL HITECH 265 300-350 SL -- 31st Aug 16 IDFC 58.25 70 71.3 22%
8th Jan ASM TECHNO 195 230-300 220 13% 8th Sep 16 IRB INFRA 242 270-285 266.4 10%
15th Jan TYCHE IND 50 72 SL -- 8th Sep 16 TALBROS ENG 238 255-260 359 51%
27th Jan ASHOKA BUILD 192 230 SL -- 16th Sep 16 NOCIL 68 85 82.45 21%
5th Feb SWISS GLASS 118 150 172 46% 21st Sep 16 CONART ENG 40 48 58 45%
19th Feb ELEGANT MARBLE 95 125 164 73% 23rd Sep 16 KEI IND 120.5 140-170 146 21%
3rd March SHIVALIK BI 22 27-35 57.6 162% 29th Sep 16 DYNAMIC IND 60 70-75 82.9 38%
8th March SUDARSHAN CHE 86 115 455 429% 29th Sep 16 GSFC 77 101 121.5 58%
21st March J K TYRE 83 105-135 161.4 94% 5th Oct 16 MAGMA FIN 116 140 125.65 8%
21st March NHPC 21.85 27-32 30.8 41% 19th Oct 16 JINDAL POLY 429 460-490 447 4%
29th March LLOYD ELE 235 300 340 45% 25th Oct 16 A2Z INFRA 40.75 50 51.45 26%
5th April ELECON ENG 59 75 74 25% 30th Oct 16 JENBRUKT PHARMA 482 700 572.5 19%
5th April MAN IND 68 85 75 10% 30th Oct 16 ADVANCED ENZ 2125 2700 2375.5 12%
8th April SURYALAKSHMI C 112 130-175 165.5 48%
4th Nov 16 MAFATLAL IND 443 425-500 448 1%
8th April SUBEX 10.1 13.75-16.5 14.25 41%
4th Nov 16 ABC BEARINGS 174 210-250 178 2%
13th April CAREER POINT 118 135-175 142 20%
2nd Dec 16 MRPL 100 119-138-149 116 16%
13th April KLRF 58 75-110 70 21%
9th Dec 16 SONATA SOFT 164 195 224 37%
26th April BENGAL TEA 50 60-65 63.5 27%
16th Dec 16 INDIA GLYCOL 137 180-200 173.2 26%
29th April WALCHAND PEOPLE 106 145 210.5 99%
30th Dec 16 MADHAV MARBLE 59 64-66 65.8 12%
3rd May IOL CHEM 103 150-250 156 51%
30th Dec 16 ORIENT BEVERAGES 160 170-172 179 12%
5th May INDIGO 1075 1200 1095 2%
6th May PPAP AUTO 144 175-200 207.7 44% 4th Jan 17 RAIN IND 56.5 70 66.25 17%
13th May HP COTTON 53 75 58 9% 5th Jan 17 MAGNGALORE CHEM 48.2 55-60 56.9 18%
16th May GANDHI SPE TUBE 235 300 352 50% 6th Jan 17 INDO RAMA 34.25 36-37 36.7 7%
16th May BAJAJ ELE 233 265 282 21% 11th Jan 17 TRIDENT 62.5 75-100 68.8 10%
19th May ITD CEMENT 127 175 176 39% 13th Jan 17 PITTI LAMINATIONS 60 63-65 63.45 6%

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