004 Nov 27

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Only Financial Weekly Published in English & Gujarati Page
60
GAMC No. :1703/2015-17. Issued by SSP Ahd. Valid up to 31-12-2017

VOL : 10 • Issue No: 41 RNI No : GUJENG / 2008 / 24320 26th Nov. 2017 to 2nd Dec. 2017
FII Activity (Rs. Cr.)

Date Buy Value Sell Value Net Value
20/11/17 4698.76 5057.5 -358.74
21/11/17 5995.72 6722.73 -727.01
22/11/17 4717.84 5159.3 -441.46
23/11/17 4395.98 4322.76 73.22
24/11/17 4327.32 4743.6 -416.28
Total 24135.62 26005.89 -1870.27
DII Activity (Rs. Cr.)
Date Buy Value Sell Value Net Value
20/11/17 2858.34 2245.34 613
21/11/17 4073.23 3247.73 825.5
22/11/17 3438.83 2601.61 837.22
23/11/17 3101.46 2879.25 222.21
24/11/17 3389.69 2962.06 427.63
Total 16861.55 13935.99 2925.56
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Financial Weekly
SMART 26th November to 2nd December 2017 4

INVESTMENT
SMART
BUY OF THE WEEK
Dark Horse
IOL CHEMICALS & PHARMACEUTICALS LTD

(524164 & NSE) (80.45) (Face Value Rs. 10)
On 21st August 2017 we had recommended this stock as DARK
HORSE @ Rs.63, last week it zoomed to Rs.80.45 levels and already
recorded almost 28% appreciation after our recommendation. We rec-
ommended this stock once again on account of its excellent Q2FY18
results.
Company was established in 1986, IOLCP is India's one of the lead-
ing generic pharmaceutical company, and is significant player in the Organic chemicals space.
It operates through Chemicals and Pharmaceuticals segments.
Chemicals Segment :- IOLCP is a major manufacturer in the speciality organic chemical space.
It is one of the largest producers of Ethyl Acetate (87,000 TPA) and ISO Butyl Benzene (IBB) in
India with over 30% of the global market share and a major player in Ibuprofen. It has forward-
integrated this vertical to the pharmaceutical segment with end products such as Ethyl Acetate,
IBB, MCA and Acetyl Chloride used as key raw materials for Ibuprofen. It plans to explore its pres-
Cont....
Financial Weekly

INVESTMENT
ence in other industries such as paints, flexible packaging and glass. In line with this approach, it
has added many MNC giants to its customer base.
Pharmaceuticals Segment : - With a presence in 56 countries, IOLCP has established itself
as a major player in Ibuprofen with 17% of the global capacity. It is the world's only backward-
integrated Ibuprofen producer (7,200 TPA) that manufactures all intermediates and key starting
materials at one location. It has augmented its pharma business by moving up the value-chain with
entry into lifestyle drugs for pain management, anti-depressant, antidiabetic, anti-platelet and anti-
convulsion. IOLCP's Ibuprofen plant is USFDA and EUGMP certified by the National Institute of
Pharmacy and Nutrition, Hungary. It contributes 85% to the total revenue of its Pharma division.
For FY17,IOLCP's sales grew 22% to Rs.710.65crore from Rs.581.62 crore in FY16. Itposted
PAT of Rs.4.23 crore as againsta loss of Rs.40.03 crore in FY16fetching an EPS of Re.0.75 and
CashEPS of Rs.6.08.
Recently it has posted Q2FY18 numbers. In Q2FY18, PAT zoomed 366.31% to Rs.4.43 crore
from Rs.0.95 crore on 26% higher sales of Rs.217.79 crore fetching an EPS of Re.0.79 and Cash
EPS of Rs.2.14. For H1FY18, it PAT soared 346.38% to Rs.7.41 crore from Rs.1.66 crore on 30%
higher sales of Rs.433.10 crore fetching an EPS of Rs.1.32 and cash EPS of Rs.3.89.
Recent Announcement : With this mind-blowing numbers, company has announced some
expansion plan. The Company is planning to pump in about Rs.200 crore over the next two years
in expanding its existing manufacturing capacities, including its flagship product, ibuprofen from
7200 TPA to 12000 TPA, keeping in view the recent approvals from US and Europe. Company will
invest about Rs.100 crore every year for two years to increase their capacity by 30% every year, to
meet its growing demand of ibuprofen. The company will also enhance the capacities of its back-
ward integrated products i.e. ISO butyl benzene from 9000 TPA to 12000 TPA, MCA from 7200
TPA to 10500 TPA and Acetyl Chloride from 5200 TPA to 8400 TPA. Presently, the company is
also in the process of setting up of a Greenfield facility of producing anti-diabetic product i.e.
Metformin, at Barnala Punjab with a capax of Rs.10 crore which will be met from internal accruals
and likely to be completed during current financial year. The company has recently enhanced
ibuprofen capacity from 6200 TPA to 7200 TPA, which is adequately used presently. The com-
pany has already completed and commercialized unit 3 to manufacture Fenofibrate, Clopidogrel
and Lamotrigine etc. with an investment of Rs.16.48 crore met through internal accruals.
The ibuprofen demand worldwide has grown in last few months and prices of ibuprofen have
also increased by 25-40%. Recently market expert and research head of JOINDRE
CAPITAL Mr.AvinashGorakshakar has recommended IOLCP on CNBC
AWAAZ with target price of Rs.118.
Investors can accumulate this stock with a stop loss of Rs.65. On the technical front it has formed
flag pattern, inverted head and shoulder pattern and also broken consolidation range on higher
side. Technically also stock is looking extremely hot at CMP. Buy this gem for long term invest-
ment.
Cont....
Financial Weekly

INVESTMENT
DAMODAR INDUSTRIES LTD

(521220 & NSE) (134.35) (Face Value Rs.10)
On 1st May 2017 at Rs.96 and on 12th June 2017 at Rs.87 we had recommended this stock as
DARK HORSE. After our recommendation it zoomed to Rs.144 levels. Company has posted su-
perb numbers for Q2FY18 so we are again recommending this stock for investment purpose.
Incorporated in 1987, Mumbai based Damodar Industries Limited manufactures and sells cot-
ton and fancy yarns in India. It offers air texturizing products like cotton yarns, including compact,
combed, carded, slub, multy count multy twist, and single/double/multyfold yarns; fancy texturizing
products. The company also provides linen blends comprising polyester/linen, polyester/viscose/
linen, polyester/cotton/linen, viscose/linen, and single/double/multifold; special blends, which in-
clude micro polyester, cationic/polyester, cationic/polyester/viscose cationic, polyester bright, vis-
cose/modal/excel, and single/double/multifold; and synthetic yarns, such as polyester/viscose,
polyester/cotton, polyester, slub yarn, linen like effect, and single/double/multifold, as well as yarn
dyeing products. It exports its products to approximately 40 countries across Europe, South Africa,
South America, Australia, South Korea, Belgium, Singapore, Italy, Egypt, and the Gulf countries.
With an equity capital of just Rs.11.13crore and reserves of Rs.82.32crore, its book value works
out to Rs.84.18. The promoter holds 69.21% while the investing public holds 30.79% stake in the
company.
During Q2FY18, its net profit zoomed 21.75% to Rs.2.91crore on sales of Rs.150.84crore. For
H1FY18, its net profit zoomed 16% to Rs.5.51crore on sales of Rs.303.82crore fetching an EPS of
Rs.4.95.
Currently, the stock trades at a P/E of just 15.4x. It is regular dividend paying company and it has
paid 28% dividend for FY17.
Company has informed to BSE that the company has embarked upon the expansion plan at
Amravati(MIDC) for Rs.165 Crores. The commercial production forthefirst phase is expected to
start from March 2018.
Stock is looking attractive at current market price. One can buy with stop loss of Rs.115. On the
upper side, it could zoom to Rs.165/175 levels in medium term to long term.
Cont....
Financial Weekly

INVESTMENT
Top 10 Dark Horse

recommendations…
Date Stocks Recomm. Achieved Ch.
Rate Rate (%)
10th April 2017 B L KASHYAP 24 71.9 200%
13th February 2017 T N PETRO 31 79.85 158%
14th August 2017 AGRITECH INDIA 60.75 149 145%
26th June 2017 PURVANKARA 65.45 152.4 133%
17th April 2017 WEIZMANN FOREX 524.75 1212 131%
28th August 2017 RISHIROOP LTD 68.85 138 100%
23rd January 2017 EON ELECTRICT 69 137.5 99%
20th February 2017 MUNJAL AUTO 48.5 94.1 94%
13th March 2017 CORDS CABLE 81 154 90%
17th July 2017 SREE RAYALSEEMA 139 264.25 90%
On 4th September at Rs.54 we had recommended MOLD-TEK TECH-

NOLOGIES as DARK HORSE. Last week it zoomed to Rs.79.65 levels
and recorded handsome 57% appreciation in just two and half months.
On 25th September at Rs.107.5 we had recommended AKAR AUTO
INDUSTRIES as DARK HORSE. Last week it zoomed to Rs.165.45 levels
and recorded almost 54% appreciation in just two months.
On 9th October at Rs.21.5 we had recommended KRITI NUTRIENTS as
DARK HORSE. Last week it zoomed to Rs.34 levels and recorded almost
58% appreciation in just one and half months.
Financial Weekly

INVESTMENT
Rapid Fire Stocks

- Kalpna J (Email- Kjtech79@gmail.com) (Ring : 97690 37711)
Asian Granito (Rs. 493.00) (Multiage)

Asian Granito India Ltd., incorporated in
the year 1995, is a Small Cap company (hav- Category No. of shares (%)
ing a market cap of Rs 1473.23 Crore) oper- Promoters 9,724,957 32.32
ating in Construction sector. Asian Granito General Public 9,990,617 33.21
India Limited is engaged in the business of Others 7,284,120 24.21
manufacturing of tiles. The Company offers Foreign Institutions 1,535,472 5.10
tiles, such as wall and ceramics, and marble NBFC & M. Funds 1,198,992 3.99
and quartz. The Company manufactures Financial Institutions 353,288 1.17
various types of vitrified tiles, including
glazed and polished in over 1,200 designs. The Company also exports tiles to approximately 50
countries.
For the quarter ended 30-09-2017, the company has reported consolidated sales of Rs 273.01
Crore, and has reported net profit after tax of Rs 13.97 Crore in latest quarter.
Stock is in uptrend - Buy at 493, Target - 550 to 650, Time Frame - 1 to 6 Months, SL- 450
Gujarat Ambuja Exports Ltd (Rs. 176.15)

(Short Term Investment Mantra)
Gujarat Ambuja Exports Limited offers Raw and Refine Soya Oil, Maize Starch, Soya De-Oiled
Cake and Liquid Glucose. The Company's segments include Cotton Yarn, Maize Processing, Agro
Category No. of shares (%) Processing, Power and Others. The Agro Pro-
cessing segment includes solvent extraction,
Promoters 75,616,951 65.94
flour mill and cattle feed operations. The
General Public 33,624,707 29.32 Power segment includes direct or indirect
Others 4,824,335 4.21 power generation for captive use. For the
Foreign Institutions 497,966 0.43 quarter ended 30-09-2017, the company has
NBFC and Mutual Funds 67,095 0.06 reported a Standalone sales of Rs 770.54
Financial Institutions 36,611 0.03 Crore, and has reported net profit after tax of
Rs 20.94 Crore in latest quarter.
Stock is in uptrend - Buy at 175 , Target - 189 to 220, Time Frame - 1 to 6 Months, SL- 163.
Financial Weekly

INVESTMENT
Financial Weekly

INVESTMENT
ICE Make Refrigeration Limited

A Company with proven Past,
Perfect Present & Bright Future
Issue Detail
Corporate Feature Issue Opens : Nov 28, 2017
Issue Closes : Nov 30, 2017
Issue Type : Book Built Issue IPO
Issue Size : 4,160,000 Equity Shares of Rs 10
Total Issue Size : Up to Rs 23.71 Crore
Face Value : Rs 10 Per Equity Share
Issue Price : Rs 55 - Rs 57 Per Equity Share
Market Lot : 2000 shares
Listing At : NSE SME Emerge
ICE Make Refrigeration Limited is a re- Key strengths

1. Manufacturers of wide range of refrigeration
frigeration equipment manufacturer, en-
equipments
gaged in providing cooling solutions. It pro- 2. Providing customized solutions with a focus on
vides cooling solutions for cold room and after sales service
3. Well established manufacturing facilities
industrial - Commercial Refrigeration equip-
4. Strong marketing and distribution network
ment used in Industries such as dairy, ice- 5. Catering to clients from diverse sectors and in-
cream, food processing, agriculture, phar- dustries
maceuticals, cold chains, logistics, hospital, hospitality and retail, among others. Broadly,
its business is split into four verticals: 1.Cold Room 2.Commercial Refrigeration 3. Industrial
Refrigeration and 4. Transport Refrigeration. Operates under the brand name of “Ice
Make” and “Bharat and “ Trasfreez” through its wholly owned subsidiary company
Objects of the Issue Bharat Refrigerations Private Limited.

1. To finance the capital ex- Over the years, its product offerings have evolved to
penditure include Cold Room, Commercial Freezer, Chiller, Refriger-
2. Brand building activities ated Vehicle, Ice Cream Hardener, Glass Door Display
3. Investment in Bharat Re- Chiller, Refrigeration Systems, Incubation Chambers, Rip-
frigerations Private Lim- ening Chambers, Pre-Cooling Chambers, Water Chilling
ited (Wholly Owned Sub- Plant, Brine Chilling Plant, Ice Building Tank, Chest Freezer,
sidiary)
Chest Cooler, Vertical Cooler, Dairy Freezer, Bulk Milk
4. Incremental working
capital requirement Chiller, Ice Candy Production Machine, Under Counter Re-
5. General Corporate Pur- frigeration, Mortuary Chambers, Ageing Vat, Eutectic Van
poses and Bunk House in these verticals. Ice Make’s diversified
Financial Weekly

INVESTMENT
product portfolio helps it reduce the risks
of adverse market condition and depen-
dence on any single product. To enhance
existing manufacturing facilities and add
presence in South India, Ice Make has
acquired ‘Bharat Refrigerations Private
Limited’, a company based in Chennai, In
December 2016.
ICE Make Refrigeration is entering into
the capital market next week with an SME
IPO. It will issue 4160000 equity shares
of Rs. 10 each via book-building route with
a price band of Rs. 55-57 per share. It will raise maximum Rs.
23.71 crore through this IPO. Issue will open on 28th Novem-
ber, 2017 and will close on 30th November, 2017. Investors
will have to apply for minimum 2000 shares and in multiples
thereon, thereafter. Post allotment, shares will be listed on
NSE SME Emerge. Vivro Financial Services Pvt. Ltd. is the
sole Lead Manager of the Issue and Link Intime India Pvt. Ltd.
is the registrar to the issue. Issue constitutes 26.54% of the
post issue paid up capital of the company.
Cold Room Refrigeration business was commenced by Pro-
moters in 2002. It contributed 63.41% of the total revenue for
FY 2017. Commercial Refrigeration business was commenced
by Promoters in 1993. It contributed 14.41% of the total rev-
enue for FY 2017. Industrial Refrigeration business was com-
menced by Promoters in 2003. It contributed 13.49% of the
total revenue for FY 2017. Transport Refrigeration business
was commenced by Promoters in 2012. It contributed 5.75%
of the total revenue for FY 2017. All these four types of prod-
600 PAT & PAT MARGIN (In %) 5.8%

511
500 %
R 58
CAG
400 3.7%
300 264
200 2.1% 2.3% 1.9%
83 89 93
100
FY 13 FY 14 FY 15 FY 16 FY 17
Financial Weekly

INVESTMENT
Ice Make Refrigerations’ Key achievements and Milestones

1993 Business started in a Proprietorship firm
2009 Incorporated as a Private Limited Company which took over the running business
of the erstwhile proprietorship firms
2011 Indian Leadership Award for Industrial Development
2013 ISO Certifications
2014 Best Medium Enterprise (Manufacturing) & Skoch Award
2015 Modification of Name to Ice Make Refrigeration Private Limited
2016 Acquisition of Bharat Refrigerations Private Limited & Indian SME 100 Award of
FY 2015-16
2017 Conversion into Public Limited Company, NSIC – CRISIL Performance & Credit
Rating
ucts are used in industries such as dairy, ice-cream, food process- ICE Make has reported
CAGR of 21% in top line,
ing, agriculture, pharmaceuticals, cold chains, logistics, hospital, 40% in EBIDTA and 58%
hospitality and retail, among others. in Net Profit in last five
years. It has posted an
On the financial front,, it has reported CAGR of 21% in top line, EPS of Rs. 4.42 for FY17
40% in EBIDTA and 58% in Net Profit in last five years. For FY and RoNW of 32.91%. It
has no listed peer to
2017, FY 2016, FY 2015, FY 2014 and FY 2013, its total revenue compare with the similar
was Rs. 8,753 Lakh, Rs.7,169 Lakh, Rs. 5,048 Lakh, Rs.3,917 Lakh business. So, ICE Make
and Rs.4,044 Lakh respectively and its net profit was Rs. 511 Lakh, enjoys virtual monopoly
with creamy list of cus-
Rs. 264 Lakh and Rs. 93 Lakh, Rs. 89 Lakh and Rs. 83 Lakh re- tomers
spectively. Its Ebita was Rs.941 lakh, Rs.553 lakh, Rs.280 lakh, Rs.211 lakh, Rs.192 lakh
respectively in these years. Also, Its margins have improved consistently. Its margins were
10.89%, 7.7%, 5.6%, 5.4% and 4.7% respectively.
For the 3 month period ended June 30, 2017, its total revenue was Rs.2,305.19 Lakh and
its net profit was Rs. 146.53 Lakh. On the basis of restated consolidated financial state-
ments for FY 2017, its total revenue was Rs. 8,823.57 Lakh and net profit was Rs. 509.11
Lakh.
ICE Make Refrigeration is It has reported an average EPS of Rs. 3.12 and RoNW of 26.99%
entering into the capital
market next week with an for last three fiscals on standalone basis on an equity base of Rs.
SME IPO. It will issue 11.51 crore. On consolidated basis it has posted an EPS of Rs.
4160000 equity shares of
4.42 for FY17 and RoNW of 32.91%. It has no listed peer to com-
Rs. 10 each. Price band
is Rs. 55-57 per share. It pare with the similar business. So, ICE Make enjoys virtual mo-
will raise maximum Rs. nopoly with creamy list of customers. Management is confident of
23.71 crore through this
IPO. Issue will open on maintaining its role as “Trusted Cooling Partners” with improved
28th November, 2017 performance post coil plant going on stream.
and will close on 30th
November, 2017
Financial Weekly

INVESTMENT
FIFTY – FIFTY
MAYANK SHARMA MUMBAI -Research Analyst
Last week we had recommended TEXMACO INFRA @ Rs.63.4, it zoomed to
Rs.77.7 levels and recorded almost 22.55% appreciation in just one week while
SURANA SOLAR LTD clicked our stop loss.
Nagreeka Exports
(521109 & NSE) (54.65) (Face Value Rs.10)
Nagreeka Exports is the flagship company of the Nagreeka Group, Co is a leading player in the
field of textiles. Being an integrated supplier of cotton fiber, yarns, dyed yarns, knit fabrics, woven
fabrics and garments; the company is known for its ability to deliver consistency and quality across
all its product categories. This is evident in the fact that exports account for approximately 75%. It’s
manufacturing facilities for cotton yarns and knitted fabrics are located in Kolhapur, India.
Company caters in two product categories: Yarns: Spinning being its core business, Nagreeka
has successfully positioned itself in the highest quality segment of the global yarns market. It is
one of the largest exporters of yarns in India. Fabrics: Nagreeka is supplying the full range of
fabrics, in open width as well as tubular body diameter. It manufactures high quality circular knitted
fabrics at it’s integrated facilities in Kolhapur, India. It offers raw as well as finished fabrics, as per
customer specifications. Stock is trading at 0.65 times its book value which is highly attractive. In
H1FY18, NEL reported Revenue of Rs.2622.20 Mn. and Net Profit at Rs.6.20 Mn. On technically
front, it has broken strong consolidation zone on higher side with huge volumes. AT CMP of Rs.55,
the stock is looking good for investment purpose. We strongly recommend a BUY to our investors
for short to medium term investment.
Financial Weekly

INVESTMENT
IL&FS INVESTMENT MANAGERS LTD

(511208& NSE) (21.25)
IL&FS Investment Managers Limited is the private equity, venture capital, and real estate invest-
ment arm of Infrastructure Leasing & Financial Services Limited. The firm specializes in seed capi-
tal, late venture, growth capital, expansions, middle market, restructuring, stressed assets, recapi-
talizations, buyouts investments, and real estate investments in high-growth real estate assets
including office, residential, retail, integrated townships, special economic zones, hospitality, and
mixed-use properties. It also makes debt investments as well as investment banking led private
equity transactions focused on opportunities arising from stressed assets.
In H1FY17, it has reported mind-blowing results with Total Revenue of Rs.556.5 Mn. and Net
Profit at Rs.74.3 Mn vs Rs.6.6 Mn. Its PAT zoomed 1025% in H1FY18. With an equity base of
Rs.62.81crore it has huge reserve of around Rs.246.08crore. Our reliable sources saying us that
something big is cooking in this counter. Just look at its monthly chart. It has broken strong resis-
tance trend line with huge volumes. AT CMP of Rs.21.25, the stock is looking good for investment
purpose. Considering all of the above, we recommend a strong BUY to our investors for short to
medium term.
Financial Weekly

INVESTMENT
Jatin Sanghavi
Market Scan (Mumbai)
(M) 098205 26455
jatinsanghavi100@yahoo.com
MARKET ON COURSE TO MAKE NEW HIGHS

S&P KEEPS INDIA RATING UNCHANGED :- Acting in contrast to Moody's, S&P kept India
sovereign rating unchanged with a 'stable' outlook. The global ratings agency maintained that
growth will remain strong over next two years and the country will maintain sound external ac-
counts position and fiscal deficit will remain broadly in line with expectations. The reason behind
not upgrading the ratings was sizeable fiscal deficit, high general government debt and low per
capita income. Despite not getting the upgrade, the market will have little to worry as the indices
are within striking distance of their life-highs. For three days, the Nifty has taken support at the
20dma and bounced back and as a result the trend continues to remain up. Thus every decline
should be treated as a buying opportunity.
TECHNICALLY SPEAKING :- Sensex opened the week at 33365, made a high of 33738, low
of 33288 and closed the week at 33679. Thus it closed the week with a gain of 337 points. At the
same time the Nifty opened the week at 10287, made a high of 10404, low of 10261 and closed the
week at 10389. Thus the Nifty closed the week with a gain of 106 points.
On the daily charts, Sensex has formed a Doji whereas Nifty has formed a small white body
candle. On the weekly charts, both the indices have formed a Bullish white body candle. Thus
candlestick study indicates a bullish bias in the near term.
Both the indices had left behind a Bullish Gap last week between 33278-33165 for the Sensex
and 10268-10232 for the Nifty. This Bullish Gap will act as Support whenever price tests the above
mentioned levels.
This week, both the indices took support at the short term average of 20dma (Sensex - 33353
and Nifty - 10324) for three days and bounced back. Both Sensex and Nifty continue to remain
above the medium term average of 50dma (Sensex - 32630 and Nifty - 10165) as well as the long
term average of 200dma (Sensex - 31063 and Nifty - 9641). Thus the trend in short term has turned
up, whereas the trend in the medium term as well as the long term timeframe continues to remain
This Weeks Recommendations

Rec. Name CMP SL TGT-1 TGT-2
Buy M&M 1434 1400 1485 1539
Buy Titan 829 809 859 891
Buy PCJeweller 383 373 398 415
Buy DBL 926 904 961 999
Buy RiiL 573 559 597 625
:::: INDEX LEVELS ::::
S3 S2 S1 CLOSE R1 R2 R3
NIFTY 10094 10192 10298 10389 10490 10589 10669
SENSEX 32524 32941 33278 33679 33967 34291 34662
Financial Weekly

INVESTMENT
Bullish.
Last week both the indices went lower and took support at the critical Gap formed between
Sensex 32804-32670 and Nifty 10120-10104. This gap was ably supported by the previous tops
(Sensex - 32683 and Nifty - 10137) along with the 50dma. Sensex made a low of 32683 and Nifty
10094 before staging a bounce-back. Thus any breach of the above mentioned lows will result in
the intermediate trend turning down and we will once again resume the Correction; the levels for
which are placed at Sensex 32802-32474-32145 and Nifty 10183-10088-9993.
The key level to watch out for in this entire upward rally is the support taken at the higher bottom
which is at Sensex 31128 and Nifty 9685. A break of this support will interrupt the higher top higher
bottom formation sequence for the indices for the first time since December 2016. As a result, we
will be looking at the Correction of the entire rally which started from Sensex 25717 and 7896 for
the Nifty.
On the weekly formation, both the indices had completed a Cup and Handle formation and the
targets are Sensex 34677-37554 and Nifty 10536-11413. If one considers the Cup and Handle
formation of 7 years from 2007 to 2014, the target for that pattern falls at Sensex 34715 and Nifty
10462. The Golden Ratio target of the current pattern weekly pattern of 2 years is at Sensex 34677
and Nifty 10536. Thus in the medium term one can expect a test of the above targets i.e. Sensex
34677-34715 and Nifty 10462-10536.
MACD continues in its Sell mode despite being in the positive zone. Price ROC is positive and
in Buy mode. RSI (61) suggests bullish momentum. ADX has dropped to 18, which suggests that
there is no clear trend. Directional Indicators are in Buy mode. MFI (42) suggests Negative Money
Flow. OBV is in Buy mode making higher top higher bottom formation. Thus Oscillators are sug-
gesting a mild positive bias this week.
Options data for November series indicate highest Call Open Interest is at the strike of 10500
whereas the highest Put build-up has shifted higher at 10300. Thus Options data suggests a very
narrow trading range with resistance at 10500 & support at 10300.
Financial Weekly

INVESTMENT
Jignesh R Mehta
(SEBI Registered Research Analyst)
E-mail : support@kiranjadhav.com
Website : www.KiranJadhav.com
Phone: 95 95 113344
Twitter: @jigneshrmehta
GAINS are for smart pickers &

not a "Coffee Can" holders!
Bullish and Bearish range as we talked about in last of our article remains nearly thesame, it is
10400 and 10260 for Bullish & Bearish side signal respectively. Upper levels of resistance are
very near and market has approached that levels with low volumes while India Vix is continue to
form bullish momentum. If momentum has to increase in current set up of market, it has to be
bearish signal and hence market now can test lower described levels as above. Till the time Mar-
ket do not break any of the suggested levels market won't decide new trend but yes if it breaks any
of these levels then a new and fast move on that side will be started. Our view on Nifty for the
coming week would be consolidation in the same specific range with slightly weaker bias. We
should not forget that consolidating market can still give returns to the smart stock pickers and not
the "Coffee Can" portfolio holders. We recommend all the readers to gain knowledge on the stock
market through any available trainingcourses and be a smart stock picker by themselves. Learning
subjects like Technical Analysis in stock market is not a difficult, it can be mastered even in two
days of simple trailing programme.
Rising Star
Network 18 Media & Investments (52.15)
Even if we don't go too deep in to history, we still find price of about 160 in 2011 for this stock
NETWORK18. But this stock continued to fall in 2011 until it saw low of about 30 in 2013. From
these low levels, counter survived and as can be seen in the chart it rose to about 65-67 kinds of
level in JUN-2014. Thus, price saw the level of about 65 after a long hault of about 2 years. After
2014 price tested same kind of levels but could not breach them above decisively &started the
down trend again. From last about 2 and half year, price is forming three curve pattern and the right
shoulder of such pattern has great volume build up. While forming the Inverted Head and shoulder
in a down trend price continued to stay above the long term support line which is not too steep.
Drawing the recent and rather steep line gives us a KID Support line which has a volume cluster as
shown in blue oval beneath. Volume cluster is nothing but the interest of the accute investors who
are early to smell opportunity and they are buying at every fall on the support line. Long term group
Financial Weekly

INVESTMENT
of MMA is starting to spread bullish along with short term group of MMA and that too are happening
with bullish candlestick. Such counter is now ripe to complete the pattern which has bullish impli-
cations for the target of about 105 in coming 1 & half year. This is nothing but doubled the money.
Stop loss is the risk that we have on the stock, which should be kept at shown support line which is
a kid support for our analogy and comes to around 47. If we get desired direction move of price then
emerging support line would be acting as our trailing support line. One must take the permission of
their financial advisor to trade such a stock with strict stop loss.
Jignesh R Mehta (SEBI Registered Research Analyst)
www.kiranjadhav.com • support@kiranjadhav.com • Phone: 95 95 113344
Twitter: @jigneshrmehta
Disclosers : Views expressed in this article/articles are personal opinion of Author and it doesn't
constitute an offer to buy or sell securities mentioned herein. Enough care has been taken before
arriving at these data, figures & charts, however, readers are advised to do their own assessment
before taking any actions in the market. The author and his company does not take any responsi-
bility for any results that may arise out of using this information.
Financial Weekly

INVESTMENT
Buy or Sell, Confused ?

Let the EXPERTS Help You
Join our Service for 1 Month & We are
Sure. You will be our Lifetime Member
Equity & Commodity Tips
Call Us : 91-9930011789
www.shareinfoline.com
Buy... Buy... Buy on Dips Hold Sell on High

Gail India 471.00 SBI 332.00
C. G. Power 85.00 Rama Steel Tubes 186.00
Minda Industries 1147.00 E-Clerx Services 1331.00
Adani Power 35.00 McLeod Russel 199.00
Dr. Reddy 2298.00 Hero Moto 3654.00
Gujarat Pipavav 152.00 Speciality Rest. 163.00
Grasim Ind. 1201.00 Prism Cement 114.00
Reliance Comm. 13.50 Purvankara 152.00
M&M 1434.00 ACC 1699.00
Jain Irrigation 71.00 Power Grid 211.00
Kotak Mah. 1031.00 BHEL 92.00
Ujaas Energy 22.85 Apcotex 483.00
Motherson Sumi 345.00 Coal India 271.00
Praj Industries 117.00 Havells India 519.00
Sun Pharma 548.00 Ambuja Cement 265.00
Vishal Bearing 41.00 Granules India 125.00
SML Isuzu 913.00 Tata Motors DVR 240.00
Rajoo Engg. 36.00 MOIL 252.00
Future Retail 643.00 Shree Cement 17072.00
Talbross Auto 241.00 Birla Corp. 1081.00
Eicher Motors 30808.00 Page Ind. 22583.00
Jamna Auto 65.00 BLS Inter. 246.00
Financial Weekly

INVESTMENT
- Parag Salot
Technical Trading Trends (SEBI Registered Research Analyst)
M. : 91-9930011789
Nifty Overview : In Last Trading Session, Nifty closed at 10417. Nifty range remains between 10,000 to 10600 levels.
Nifty continues to have positive bias. Nifty immediate support is at 10360 and next support is at 10250 levels.
Bank Nifty Overview : In Last Trading Session, Bank Nifty closed at 25844. Bank Nifty has made a good move and
continues to remain positive. Bank Nifty has moved up quiet a bit & thus Support levels are far at 25500 & 25300 levels.
Last Recommendation Review

Scrip Name BSE Buy/ Enter Did High/ Remark
Code Sell at Low
Jindal Steel 532286 Buy 164 177 Target Achieved
NMDC 526371 Buy 123.5 129 Target Achieved
Wockhard 532300 Buy 710 755 Target Achieved
Bata India 500043 Sell 794 728 Target Achieved
Raymond 500330 Sell 985 960 Target Achieved
Trading Buy
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Glenmark 532296 592 578/585 605 630 565
IDFC 532659 61 58/61 65 70 56
Infratel 534816 382 375/378 384 390 372
Jindal Steel 532286 172 165/172 180 190 158
MCX 534091 951 945/950 965 980 935
Wockhard 532300 705 717/720 740 760 695
Trading Sell
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Raymond 500330 983 996/1005 975 950 1025
Reliance 500325 952 970/980 950 930 995
SBIN 500112 333 345/350 338 325 355
Tata Chem 500770 742 765/770 750 740 780
Tata Global 500800 277 285/290 277 270 295
Titan 500114 831 848/855 838 820 865
Voltas 500575 625 655/660 635 620 667
Note : All calls are momentum calls based on technical analysis and all levels as per future prices (If scrip not
available in futures then BSE Cash price). All these calls are given based on daily charts but intra ]day signals are
equally important to enter the trade in a timely manner. Timing is very important and we at shareinfoline.com give you
timely calls based on intraday charts. Read Disclaimer at ShareInfoline.com
Financial Weekly

INVESTMENT
Stock Buzz Subramanian Mahadevan

dolphincapital@gmail.com
Dhanlaxmi Bank Limited (Rs. 32.00)

Turnaround 'Banker'!
Dhanlaxmi Bank Limited (DBL) - is a Kerala based financial institution incorporated in 1927,
Dhanlaxmi Bank is one of the oldest mid-size private sector banks in India with a pan-India pres-
ence through a network of 260 branches, 371 ATMs covering 680 centers across 15 states. As on
March 31, 2017, the bank had total deposits at Rs. 11294 crores with advances at Rs. 6596 crores
and an asset base of Rs. 12333 crores. DBL has a well-diversified product basket and is present
across the Personal Banking, Corporate Banking, NRI Banking, Micro & Agri Banking, SME Bank-
ing and other financial planning verticals. DBL strengths is its number of customers, scale of busi-
ness, breadth of product offerings, banking experience the bank offers and the trust that customers
have in the bank.DBL reported a turnaround result with PAT of Rs 12.38 crores (FY16:Rs 209.45
crores losses) in FY17 after three consecutive years of net losses. The bank also reported a 9%
growth in Net Interest Income (NII) totaling Rs 331.60 crores as compared to Rs 304.68 crores last
year. Further the bank reported a healthy improvement in the cost to income ratio which resulted in
the operating profits moving up to Rs 96.37 crores as compared to an operating profit of just Rs
3.28 croreslast year. Also GNPA has also reduced to 4.78% in FY17 from a peak level of 7% in
FY15 and around 6.36% last year. The NNPA stands at 2.58% as on FY17 as compared to 2.78%
last year. Worst of asset quality is behind and management sounds more confident than before in
the preceding three quarters with excellent profits. DBL - a strong takeover candidate currently
trades at 1.18x P/BV on FY18 and 1.05x P/BV FY19 which look attractive from a long term per-
spective considering the banks size and long term prospects. Accumulate for excellent double
digit returns in one to two years' time with limited downside.
- Subramanian Mahadevan
Financial Weekly
Every Sunday Every Wednesday
English & Gujarati Edition Gujarati Edition

Financial Weekly

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

E-mail ID : rohan.nalavade21@gmail.com
Bulls need to cross Nifty 10450 mark

Last week Nifty moved in a range( 10300-10400) whole week making a range bound market
,Nifty has to cross 10450 closing basis to get strong momentum, and has to protect 10300 closing
basis any above mentioned levels triggers it will gain momentum on that side ,below ,10300 sell-
ing pressure will take place , next week monthly expiry will be there can Nifty close above (10343)
which was last expiry close if yes then can be taken as positive signal for upside.Next month lot of
action in December RBI policy is in first week of December ,as crude oil price going up petrol
diesel price will go up and so inflation so possibility no rate cut this time so from next week banking
sector will start reacting and PSU bank have started showing weakness metal sector also show-
ing weakness with oil and gas sector .Nifty has to cross 10450 for good strength and10300 should
be protected if 10300 breaks selling pressure will be seen .Gujrat election exit poll will start its
news from 1 st week of December can Modi win with full majority even a tough fight from congress
market can act negative .
Stocks to watch out
Hindalco is sell below 256 for 250-248-242 SL 260
ICICI Bank below 315 is sell for 310-305-300 SL 325
Reliance is sell below 946 for 935-930 SL 961
ITC is buy above 260 for 265-270 SL 255
Nifty spot is sell below 10380 for 10350-10300 SL 10410
Nift spot is buy above 10400 for 10440-10460 SL 10378
Nayan Patel
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Financial Weekly

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Financial Weekly

INVESTMENT
Nilesh S. Kotak
Value Buy (Mob. : 8866004076)
Nila Infrastructure Limited

• Work Profile :-
Nila Infrastructures Ltd is in the Real Estate sector, having a market capitalization of Rs. 664.83
crores. It has reported a sales of Rs. 74.09 crores and a net profit of Rs. 7.71 crores for the quarter
ended March 2017. The company management includes Manoj B Vadodaria (Chairman And Man-
aging Director), Hiren G Pandit (Independent Director), Kiran B Vadodaria (Joint Managing Direc-
tor), Dilip D Patel (Independent Director), Shyamal S Joshi (Independent Director) among others.
• Background of the company :-
Incorporated in the year 1990, Nila Infrastructures Limited (Sambhaav Group Company - Media)
has been promoted by first-generation promoters, Mr. Manoj B. Vadodaria and Mr. Kiran B.
Vadodaria. Nila is well established player with a hybrid model in developing Civic Urban Infra-
structure Projects on EPC, Turnkey, PPP Mode, as well as Private White Label Construction and
Industrial Infrastructure Projects. It also has a long track record of developing and marketing own
Real Estate Projects with varied sectors ranging from Affordable Housing to Luxurious Housing.
Nila has major presence in Gujarat and has expanded footprint into Rajasthan. Its major clients
include Ahmedabad Municipal Corporation (AMC), Vadodara Urban Development Authority
(VUDA), Government of Rajasthan (through Rajasthan Avas Vikas and Infrastructure Limited
(RAVIL) and UITs), Adani Group, Sandesh Applewood.
• Registered Office :-
1st Floor, Sambhaav House, Opp. Chief Justice's Bungalow, Bodakdev, Satellite,
Ahmedabad, Gujarat 380015
• Shareholding Pattern:
Promoter's Holding: 61.98%
Public Holdings: 38.02%
Banks & Financial Institutions: 0.48%
Non Institutions/Individual Share Holders: 20.77%
Others: 16.77%
• Technical Profile
Market Cap: 664.83 Cr.
Stock P/E: 29.11
Current Price: 23.50
Dividend Yield: 0.61%
Book Value: 4.83
Face Value: 1.00
52 Week High/Low: 20.00/9.30
• Advantages:
Company has been maintaining a healthy dividend payout of 26.18%
Financial Weekly

INVESTMENT
Technical News : 27-11-2017 to 1-12-2017

Manu Consultants : Manishkumar - Kolkata
SEBI REG:- RESEARCH ANALYST- INH300002449
• NIFTY FUTURE
NIFTY FUT SUPPORT AT 9700-9550 AND RESISITANCE 10560-650
STRATEGY :- BUY BANK NIFTY ON DIPS TILL 25600 SL 25400 TA 26000-26200
STOCKS F&O:-
BEML (1680):- BUY BEML ON DIPS TILL 1640 SL 1620 TA 1725-80
INDIA CEMENT (175):- BUY INDIA CMENT ON DIPS TILL 170 SL 166 TA 184-90
JINDAL STEEL (172) :- BUY JINDAL STEEL ON DIPS TILL 168 SL 164 TA 180-84
ADANI ENT (152):- BUY ADANI ENT ON DIPS TILL 148 SL 144 TA 160-64
SELL STOCKS
SELL JET ON RISE TILL 675 SL 690 TA 624-600
SELL PVR ON RISE TILL 1340 SL 1364 TA 1275-50
DELIVERY STOCKS
BUY EMKAY GLOBAL SL 220 TA 300-50
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.
Nifty & Sensex Movement during the last week

NSE - Nifty Open High Low Close Diff
20-Nov-17 10287.2 10309.85 10261.5 10298.75 15.15
21-Nov-17 10329.25 10358.7 10315.05 10326.9 28.15
22-Nov-17 10350.8 10368.7 10309.55 10342.3 15.4
23-Nov-17 10358.45 10374.3 10307.3 10348.75 6.45
24-Nov-17 10366.8 10404.5 10362.25 10389.7 40.95
Net Weekly Gain 106.1
S&P Sensex Open High Low Close Diff
20/11/17 33,365.84 33,449.53 33,288.21 33,359.90 17.10
21/11/17 33,438.28 33,625.05 33,437.61 33,478.35 118.45
22/11/17 33,569.07 33,654.53 33,465.23 33,561.55 83.20
23/11/17 33,575.91 33,670.19 33,468.30 33,588.08 26.53
24/11/17 33,670.00 33,738.53 33,639.98 33,679.24 91.16
Net Weekly Gain 336.44
Financial Weekly

INVESTMENT
Terrific Shots - Dilip K. Shah
Future Retail (Rs.643.00) (Code: 540064) :- Kishore Biyani promoted company has
recently acquired HyperCity from Shoppers Stop. It operates Big Bazaar and other retail brands.
After restructuring of the business, Hyper Market, Super Market and Home Solution business have
been accommodated in this business group. In the first half of FY2018, the company's sales in-
creased from Rs8171.13 crore to Rs9211.23 crore, while profit increased from Rs144.18 crore to
Rs301.01 crore with EPS of Rs6.15. As against equity of Rs94.36 crore, the company has re-
serves of Rs2549.30 crore. It has witnessed bullish trend which may continue in near future as
well.
Tata Coffee (Rs.159.00) (Code:532301) :- It is a subsidiary of Tata Global. It tops in
coffee plantation in the world. It has 19 coffee estates spread over 8037 hectares in Tamil Nadu
and Karnataka producing 1000 metric ton coffee. It also owns seven tea estates spread over 4755
hectares. As against equity of Rs18.68 crore, the company has reserves of Rs1038.43 crore. In the
first half of FY2018, the company's income decreased from Rs797.96 crore to Rs749.80 crore,
while profit decreased from Rs108.75 crore to Rs79.99 crore. The stock has been in consolidated
zone for quite some time, so it has not witnessed spurt in the prices. However, it has now come out
of it. The coffee prices are likely to go up in the global market, so the stock may get benefitted.
Famous investor Purenju holds stake in the company.
Exide Industries (Rs.206.00) (Code:500086) :- It is one of the biggest manufac-
tures of battery for automobile sector and holds the position of market leader. It has seven manu-
facturing plants and owns strong brands such as exide and SF Sonic. It also manufactures batter-
ies for industrial and submarine segment. However, automotive sector accounts for the biggest
chunk in its income. In the second quarter, the company's income increased from Rs1928.89 crore
to Rs2371.32 crore, while profit decreased from Rs181.32 crore to Rs135.52 crore. The valuation
of the company is 17573 crore as per market capitalization. The stock can be considered for buy-
ing. It may move towards 250 level.
Bharati Airtel (Rs.496.00) (Code:532454) :- It is the largest telecom company of
India. As Reliance Jio has started increasing price for data, the rival company's erosion in Average
Revenue Per Users (ARPU) may decrease,which will benefit Airtel the most. Moreover, data vol-
ume has increased by 56% on quarterly basis. The African business is also on recovery mode and
income from Africa has increased by 7%. The consolidated profit has also increased by 59%. The
company has recently acquired Telenor and Tata Telecom so it may hold on the number one
position in the market. The lower pressure of capital expenditure will witness in free cash flow from
2018-19. In September quarter, the income decreased by 11% to 21777 crore, while net profit
decreased by 75 to Rs586 crore. It has joined hands with Ericsson for development of 5G. The
stock prices may cross Rs550 in short to medium term.
Disclosures as per SECURITIES AND EXCCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014 ; • I and / or
my clients may have investment in this stocks • I/My family have no financial interest or beneficial interest of more than 1% in the
company whose stocks I am recommending • Stop loss is useful for Short / Medium Term investor Only • Smart Investment will not
be responsible / liable for any loss arising out of investment based on tis advices • Past performance may or may not be
substainedin future " (Dilip K. Shah) Research Analyst : SEBI Regn No. : INH000002152
Financial Weekly

INVESTMENT
Sarvesh Ashok Trivedi
Stock Wave (Mumbai) (Mob) 09820728124
www.chartsanketstock.com
Selected Scripts may witness upward movement

amid small ups and downs in the index base
BSE Index (33679.25) :- It is moving upward from bottom of 32683. It shows overbought posi-
tion on daily basis, while overbought to towards neutral on weekly and monthly basis. On upward
movement, beyond 33865 it may witness resisting level at 34050. On the downward movement,
below 33475 it may get support at 33380 and 33305.
Nifty Future (10409.35) :- It shows improvement from bottom of 10125.40. It shows overbought
position on daily basis, while overbought to towards neutral position on weekly and monthly basis.
On upward movement, beyond 10425 it may witness resisting level at 10490, 10530 and 10580.
On the downward movement, below 10350 it may get support at 10335 and 10275.
Bank Nifty Future (25842.54) :- It shows improvement from bottom of 25260. It shows over-
bought to neutral position on daily basis, overbought on weekly basis and overbought to towards
neutral position on monthly basis. On upward movement, beyond 24975 it may go up to 26110,
26250 and 26375. It may get support at 25600.
Apollo Tyres (254.10) :- It shows rebounding spurt from bottom of 228.15. It shows overbought
position on daily basis, neutral on weekly basis and towards oversold on monthly basis. On up-
ward movement, beyond 255 it may go up to 265 to 273. On the downward movement, below 246
it may get support at 243.
Sun Pharma (549.00) :- It is moving upward from bottom of 498.20. It shows overbought posi-
tion on daily basis, towards oversold on weekly basis and neutral on monthly basis. On upward
movement, beyond 558 it may go up to 569, 576, 583 and 595. On the downward movement,
below 540 it may get support at 533.
Dish TV (82.00) :- The stock is moving northward from bottom of 68. It shows overbought posi-
tion on daily and weekly basis, while oversold position on monthly basis. On upward movement,
beyond 82 it may go up to 84, 89 and 92. Support could be at 76.
Syndicate Bank (94.50) :- It is moving upward from bottom of 83.30. It shows neutral position on
daily basis, overbought on weekly basis and towards neutral position on monthly basis. On up-
ward movement, beyond 95 it may witness resisting level at 97. On the downward movement, it
may get support at 87.
Tata Power (93.65) :- It shows improvement from bottom of 75.38. It shows overbought position
on daily and weekly basis, while neutral on monthly basis. On upward movement, beyond 95 it
may go up to 98, 102 and 108. On the downward movement, support could be at 98.
disclosure : The Recommendations are based on technical analysis. There is a risk of loss in trad-
ing.
-: Golden quote :-
Knowledge isn’t free, you have to pay attention
Financial Weekly

INVESTMENT
Dilip Davda Best Buy

e-mail Expert’s Eye Tata Chem,
dilip_davda@rediffmail.com Merck Ltd.,
Vakrangee
Week marks range bound trades

Positive week amidst consolidation
The week under report turned positive with a range bound trades expressing consolidation ahead
of big either side move.
During the fortnight, indices moved in the range of 10404.50-10261.50 and 33738.53-33288.21
for NSE Nifty and S&P BSE Sensex respectively.
Secondary Market :- With a cautious positive opening on Monday indices moved in a narrow
range bound trades to close in green with minor gains. NSE Nifty scored just 15.15 points to close
at 10298.75 and BSE Sensex gained mere 17.10 points to end the day at 33359.90. Auto, Metal, IT
counters lead the rally, however selling spree in cement and banking counters kept a check. FIIs
verses DIIs trends continued. VKJ Infra announced bonus issue in the ratio of 1 share for every 3
shares held.ANI Integrated got listed on NSE SME Emerge and opened at a premium to offer price.
On Tuesday markets opened higher and moved in a narrow but positive range to close in green.
While NSE Nifty scored 28.15 points to end the day at 10326.90, BSE Sensex gained 118.45
points to close at 33478.35. Logistics sector getting infra status lifted counters in these segments.
Power, Consumer Durables, Telecom, Pharma counters surged on positive reports for select
counters of these segments.
On Wednesday too we marked positive openings and closing in green with narrow movements.
NSE Nifty marked gain of just 15.10 points to close at 10342.30 and mirroring similar trends, BSE
Sensex scored 83.20 points to end the day at 33561.55. Thus hat trick of positive closing was
marked for the week. Banking counters lead the rally and got support from Auto, Leather Goods
counters. However FMCG, Pharma and Realty sector witnessed mixed trends. Sanghvi Brands
got listed on BSE SME and opened at a premium to offer price.
On Thursday markets opened flat but in green and man- Bonus Announced
aged to close flat in green. NSE Nifty scored mere 6.45 points VKJ Infra (1 : 3)
to end the day at 10348.75, BSE Sensex gained just 26.53
points to close at 33588.08. With range bound both side move-
Lancer Container (3 : 5)
ments, market turned listless. Profit booking at every rise kept
a check on northward march. Banking, Auto, FMCG, IT Bonus Issue Meetings
counters eased. However, sugar counters rallied on positive Excel Realty has convened
reports for the sector. FIIs verses DIIs trends continued. Mid bonus issue meet on 30.11.17.
and Small cap counters marked surge on renewed support.
With positive openings on Friday, indices hovered in a During the week,
: Right Issue : dividend announcements
20 Microns (8%), MM Forg-
Lakshmi Vilas Bank announced rights issue in the ing (50%), Monsanto India
ratio of 1 share for every 3 shares held at a price (150%), Siemens (350%), Vidhi
of Rs. 122 per share. Spl (20%) etc.
Financial Weekly

INVESTMENT
range bound trades to close in green. NSE Nifty gained 40.95 points to close at 10389.70 and BSE
Sensex scored 91.16 points to end the day at 33679.24. In fact we witnessed seven positive ses-
sions in a row despite all odds. RIL lead the rally and got support from IT, Auto, Pharma and Power
sector counters. All indices were in green for the day. Market breadth was positive. FIIs were net
sellers, while DIIs were the net buyers for the day. Vertoz and Pulz Electronics got listed on NSE
SME and opened at a premium to offer price. Lakshmi Vilas Bank announced rights issue in the
ratio of 1 share for every 3 shares held at a price of Rs. 122 per share. Lancer Container an-
nounced bonus in the ratio of 3 shares for every 5 shares held.
For the range bound week amidst consolidation mode, NSE Nifty and BSE Sensex marked net
weekly GAINs of 106.10 and 336.44 points respectively.
Rupee moved up to Rs. 64.70 a dollar but Crude Oil scaled above 63$ a barrel and raised
concern. Considering derivatives expiry, ensuing week may mark high volatile trades and indices
are expected to move both sides in a swing. According to analysts, market is overdue for a big
correction but constant inflow of funds in MFs are being poured in markets and hence it is gaining
after modest corrections. We are entering in a critical final month of CY 2017 and hence, it will be
prudent to trade cautiously, opine seasoned observers.
Amidst such a scenario NSE Nifty and BSE Sensex may hover between 10650-10000 and
34250-33000 respectively for the ensuing week.
Excel Realty has convened bonus issue meet on 30.11.17.
Scrip Watch :- Investors may keep following scrip on radar for their investment plans:
Tata Chem (BSE Code: 500770) :- This chemical major of Tata group has (on a
consolidated basis) reported net profit of Rs. 1129.87 crore on a turnover of Rs. 6107.65 crore for
H1 of FY18 against net profit of Rs 816.92 crore on a turnover of Rs. 6777.92 crore for the corre-
sponding previous period. For FY17 it posted net profit of Rs. 1583.06 crore on a turnover of Rs.
13273.50 crore. H1 results are based on restated basis for continuing and discontinued opera-
tions. As on 30.09.17 it's paid up equity capital of Rs. 254.82 crore is supported by free reserves of
Rs. 11400 crore plus. Scrip may be considered at declined levels for medium to long term invest-
ment. It currently quotes around Rs. 739.25 against 52 week High/Low of Rs. 765/456, FV Rs.10.
Merck Ltd. (BSE Code: 500126) :- This pharma sector company has posted net profit
of Rs. 66.64 crore on a turnover of Rs. 815.32 crore for 3Qs of CY17 against net profit of Rs. 59.68
crore on a turnover of Rs. 770.27 crore for the corresponding previous period. For CY 16 it earned
net profit of Rs. 75.89 crore on a turnover of Rs. 1020.57 crore. As on 30.09.17 it's paid up capital
of Rs. 16.60 crore is supported by free reserves of Rs. 694 cr. plus. Scrip may be considered at
declined levels for medium to long term investment. It currently quotes around Rs. 1149.10 against
52 week High/Low of Rs. 1320/877, FV Rs. 10.
Vakrangee (BSE Code: 511431) :- This IT sector (Specialty Retail) company has (on
a consolidated basis) posted net profit of Rs. 357.84 crore on a turnover of Rs. 2859.33 crore for H1
of FY18 against net profit of Rs. 247.85 crore on a turnover of Rs. 1878.57 crore for the correspond-
ing previous period. For FY17 it posted net profit of Rs. 530.80 crore on a turnover of Rs. 4005.75
crore. As on 30.09.17 it's paid up equity capital of Rs. 52.94 crore is supported by free reserves of
Rs. 2358 crore plus. It has announced a bonus in the ratio of 1 for 1. Scrip may be considered for
medium to long term investment. It currently quotes around Rs. 711.55 against 52 week High/Low
of Rs. 718/260, FV Re. 1.
DISCLAIMER : No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or
as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no
circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual
investment decisions, based on information published here. Any reader taking decisions based on any information published here does so
entirely at own risk. Above information is based on the details available as on the date along with market perceptions. Author has not traded
in above three stocks mentioned in Scrip Watch during last one month and has no holdings or plans to invest in any scrip referred above.
(THE AUTHOUR IS SEBI REGISTERED RESEARCH ANALYST) (Email: dilip_davda@rediffmail.com)
Financial Weekly

INVESTMENT
Scrip Watch - Dilip K. Shah
Sanofi India (Rs. 4449.00) (Code : 500674) (F. V. : 10.00) :- Drug firm Sanofi
India has reported much better numbers last week. Its net profit was up 40% at Rs116.3 crore for
the quarter ended 30 September 2017. Its standalone revenue came in at Rs. 626.6 crore, register-
ing 5% yoy increase. EBITDA rose by 37% yoy to Rs. 143 crore with a corresponding margin
expansion of 530 bps. EBITDA margin for the quarter stood at 22.8%. This margin expansion was
aided by lower cost of materials by 8.5% yoy to Rs.140 crore in Q2FY18 vs Rs.154 crore. The
company's key therapeutic areas posted strong growth during the quarter: Anti-Diabetic portfolio
grew by 24%, Respiratory by 10.8% and Neuro/CNS by 10.5%. High growth of brands like Lantus,
Combiflam, Allegra and Amaryl M, and new product launches should drive Sanofi’s revenue growth.
Higher margins attributed to lower raw material cost and other expense. EBITDA margin expanded
to 27.5% in 3Q. Invest.
SML Isuzu (Rs. 913.00) (Code : 505192) (F. V. : 10.00) ;- SML Isuzu posted
in-line revenue at Rs 2270 crore in Q2, which is 25 per cent decline yoy. Its volumes fell by 35%
(2.26k), owing to unsold BS3 inventory, insufficient supply of chassis frame components, short-
age of BS4 components and a slowdown in Bus demand. SMLI’s growth ahead will be based on
Strong brand equity in the school bus segment and debottlenecking of capacity in the peak sea-
son. Increase in capacity utilisation led by expanding presence in the cargo segment will benefit.
Technology support from Isuzu Motors makes the company better placed. The company has up-
graded its product range to compete with larger peers. The outlook for the passenger carrier seg-
ment is more encouraging, led by growing demand in the school bus segment. Improved capacity
utilisation, expanding dealership network and new product launches (with a focus on improved
cabin and fuel efficiency) will bode well for SML in times to come.Accumulate.
Tata Motors (Rs. 424.00) (Code : 500570) (F. V. : 2.00) ;- Shares of Tata
Motors were up last week as foreign brokerage Macquarie has an overweight rating on the stock
with a target of Rs 525 per share.The management remained confident about better JLR volume
growth and margin in H2FY18 and FY19. The company is aiming for a 500 bps market share gain
in the domestic commercial vehicle segment, it added.CLSA said that the muted growth in October
led by earlier festive season.The firm expects passenger vehicle/2-wheeler industry volume to
grow at a strong 12%/14% YoY in FY18 and also expecting FY18 to be a tad soft for M&HCV and
it forecasts 3% YoY growth in India volume. According to Nomura the low income group states has
drove the second quarter sales as UP, Bihar, Orissa and MP have recorded stronger growth.The
stock is worth accumulation.
Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may have investment in this
stocks • I/My family have no financial interest or beneficial interest of more than 1% in the company whose stocks I am recommending • Stop loss is useful for Short
/ Medium Term investor Only • Smart Investment will not be responsible / liable for any loss arising out of investment based on tis advices • Past performance may or
may not be substainedin future " (Dilip K. Shah) Research Analyst : SEBI Regn No. : INH000002152
Financial Weekly

INVESTMENT
Market Tips - Dilip K. Shah
Minda Corp (Rs. 196.00) (Code : 538962) (F. V. : 2.00) :- Auto component
maker Minda Corp. has reported a 7.9% increase in its net profit at Rs42.1 crore for the September
quarter of the current fiscal.The company had posted a net profit of Rs39 crore during the same
period of the previous fiscal.Revenue during the period increased 10.9% to Rs655 crore from
Rs590.8 crore in the year ago quarter.During the previous quarter, it has seen a positive movement
towards a more stabilised GST regime resulting in steady growth of business. Minda has received
Rs 1,200 crore of orders (lifetime value) across domestic and export businesses, 50 percent of
which is related to safety, security and restraint system, 30 percent is related to driver information
and telematics and remaining is related to interior systems.Minda has significant expansion plans
for the future. It has started its Greenfield plant in Mexico in April 2017 to supply plastic interiors to
the Volkswagen Group.The company has also set up its 3rd die casting plant in Pune which is
expected to be operational in FY18. At CMP of Rs.200, the stock is worth accumulation.
Aegis Logistics (Rs. 233.00) (Code : 500003) (F. V. : 1.00) :- Logistics sector
was in limelight ahead of the implementation of the goods & services tax (GST) but pared some
gains soon after it was implemented in July. Then came another positive trigger.The government
has given infrastructure status to logistics sector, covering cold chain and warehousing facilities.The
government has been working on ways to attract more investments into transport and logistics as
part of efforts to bolster infrastructure development in the country. Aegis Logistics will be one of the
beneficiary in tshis sector. Meanwhile, UBS initiated coverage on the sock with a buy call and has
set a target price of Rs 280. UBS believes the company will benefit from surge in LPG demand and
growing dependence on imported LPG. It expects LPG demand to record an 11% CAGR and
imports a 16% CAGR for FY17-22. The brokerage is expecting terminalling market share of im-
ported LPG to increase to 28% by FY21 vs 12% in FY17. It also sees EBITDA/Net Profit to grow at
CAGR of 40%/42% over FY17-20. Buy.
Birla Corp (Rs. 1081.00) (Code : 500335) (F. V. : 10.00) :- Cement major Birla
Corporation Ltd has reported an average numbers as situation for the whole cement sector was
weak.It reported 98 percent decline in its net profit for the September quarter at Rs 1.46 crore.The
company had posted a bottom line of Rs 65.43 crore in the corresponding period a year ago.Revenue
from operations, however, grew 14.41 percent year-on-year to Rs 1,235.49 crore in the quarter
under review compared with Rs 1,079.83 crore in the year-ago period. There was a sharp decline
in other income from Rs 45 crore in the three months ended September in 2016 to Rs 12 crore in
Q2 of this fiscal.Birla Corporation's total expenses rose 17.64 percent to Rs 1,247.11 crore in July-
September as against Rs 1,060.02 crore in same period last year. As the monsoon has been over
and it was better than expected, the rural demand will rise. Also, the government has focused on
implementation of infrastructure projects, the cement demand will definitely rise. Buy at decline.
Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may have investment in this
Financial Weekly

INVESTMENT
SMART TIPS Smita N. Zaveri
Jamna Auto (Rs. 64.00) (Code: 520051) :- The shares of this auto parts equipments
manufacturer are listed in the B group and have face-value of Rs. 5. The share touched a 52-week
high of Rs. 67 and low of Rs. 31. It is India's largest and world's third largest manufacturer of
tapered leaf spring and parabolic spring for automobiles. It has a diversified portfolio and also
manufactures life axles, air suspensions, among others. Toyota, Ashok Leyland, Tata Motors, Force
Motors, SML, are among its large clients. For FY 17, it reported income of Rs. 1,687 crores, and
profit of Rs. 103.37 crores. In the last quarter, it reported income of Rs. 362.28 crores, and net profit
of Rs. 29.27 crores. The company's interest cost has been on the decline. Trading at a PE multiple
of 20, the stock is poised to touch Rs. 75 in the short term.
Talbross Automotive (Rs. 231.00) (Code: 505160) :- This B group listed auto
parts equipment manufacturer's shares have face value of Rs. 10. The share touched a 52-week
high of Rs. 247 and low of Rs. 119. The company produces gasket and chassis rubber products
and forgings. It has technical collaboration with Japanese companies. For FY2017, it reported
income of Rs. 329 crores, and net profit of Rs. 10.45 crores. It came out with strong numbers for Q2
of FY2018. EBIDTA grew 20% on falling raw material prices and lower power cost to Rs. 16 crores.
Net profit jumped 48% to Rs. 6 crores. The company recently bagged a Rs. 175 crore order for
seven years from a German luxury car manufacturer, pushing the stock to 52-week high. The stock
is in somewhat correction mode right now, but can be seen touching Rs. 300 in the short to medium
term.
Balasore Alloys (Rs. 80.00) (Code: 513142) :- Shares of this iron and steel and
interim products company are listed in the XC Group, and have face value of Rs. 5. In the last 52
weeks, the shares touched a high of Rs. 99 and low of Rs. 42. Promoted by Ispat Group of Mittal
Family, it was established in 1984. It has six furnaces in Odisha and can produce 1.50 MT bulk
ferro alloys in a year. It also has captive mines in Odisha. The company is benefitting from rise in
crome prices. For 2016-17, it reported turnover of Rs. 1,037 crores, while net profit surged 375% to
Rs. 89.52 crores. For June quarter, income was Rs. 308 crores, and net profit was Rs. 24 crores.
Trading at a PE multiple of just six, as compared with rivals' eight, the stock is reasonably priced at
current levels.
Sanghi Industries (Rs. 123.00) (Code: 526521) :- Shares of this cement company
are listed in the B Group and have face value of Rs. 10. The shares touched a high of Rs. 137 and
low of Rs. 46 in last 52 weeks. The Gujarat-based company is set to enter Maharashtra and
Rajasthan in near future. The company has annual cement capacity of 4.1 million tonnes. It also
has a 62 MW fully integrated thermal power plant. The company has increased lignite usage after
GST on it was reduced from 28% to 5%. For 2016-17, Sanghi had income of Rs. 1,102 crores and
profit of Rs. 63.15 crores. For the quarter ended September 2017, income was Rs. 206 crores, and
net profit of Rs. 10.93 crores. Cement demand is expected to rise due to Centre's focus on infra-
structure. The share has risen at rocket speed in recent times. It can be seen crossing the 52-week
high and touching Rs. 150 in the near future.
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 24th November 2017
unless specified o Stoploos is useful for Short - Medium term investors only
* Disclaimer :- • Smart Investment will not be responsible / for any loss arising out of investment based on its recommendation. • Though, every care has been taken,
we will not responsible for any errors / omissions • All disputes are subject to Ahmedabad jurisdiction
Financial Weekly

INVESTMENT
Smart super duper - Dilip K. Shah
Balaji Amines (Rs. 635.00) (Code:530999) :- Maharashtra-based company is ac-

tive in Methylamines, Ethylamines, Derivatives and specialty chemicals. It has two plants at Solapur
and one plant at Hyderabad. It supplies various products to pharmaceuticals and agrochemical
industries along with chemicals and FMCG sector. The company's equity is Rs6.5 crore. In the
second quarter, the company's sales increased by 16.88% to Rs201.19 crore, while net profit in-
creased by 39.81% to Rs29.16 crore. The export increased by 44.82% to Rs39.81 crore. Recently
it has invested Rs66 crore in Balaji Specialty Chemicals. The fancy is increasing on counter due
to big investors like Hohnish Pabrai, Porinju Velyath and others. The stock can be considered on
downward movement in prices. The company's profit may cross Rs100 crore this year.
Ganesh Housing (Rs. 129.00) (Code:526367) :- Ahmedabad-based real estate
company Ganesh Housing's market capital is Rs635 crore. The promoters hold 56.08% and pub-
lic hold 43.92% stake. As against equity of Rs49 crore, the company has reserves of Rs797.67
crore. In September quarter, the company's income increased from Rs35.60 crore to Rs52.23 crore,
while profit increased from Rs7.15 crore to Rs11.59 crore with EPS of Rs2.35. The stock is being
quoted at lower P/E of 8.73 against industry P/E of more than 42. The company paid 20% dividend
in 2017. The stock can be considered for investment as the company has been implementing
projects in posh localities of Ahmedabad.
Sadbhav Engineering (Rs. 357.00) (Code:532710) :- Ahmedabad-based com-
pany is active in infrastructure segment including road, bridges, highway, construction, irrigation,
supporting infra and mining sector. As against equity of Rs17.16 crore, the company has reserves
of Rs1726.64 crore. In the first half of 2018, the company's income has increased from 1422.61
crore Rs1637.43 crore, while profit has increased from Rs67.21 crore to Rs88.98 crore. The mu-
tual fund holding is quite high. It has strong order book so the company's future seems to be bright.
It is advisable to invest at lower level for two years outlook.
Purvankara (Rs. 152.00) (Code: 532891) :- It is one of the leading real estate players
in South India and it operating since 1975. It has completed 54 residential and four commercial
projects still now. As against equity of Rs111.58 crore, the company has reserves of Rs2313.80
crore. The promoters hold 75% and public hold 25% stake. The book value is Rs100 crore. In the
first half of FY2018, the company's income has increased from Rs683.25 crore to Rs686.85 crore,
while profit decreased from Rs52.35 crore to Rs41.21 crore. It paid 15.64% divided for 2016 and
45% for 2017. In 2017, it decreased the debt by Rs300 crore. The company is looking forward to
decrease the debt further in 2018.
Disclosures as per SECURITIES AND EXCCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may have investment in this
Financial Weekly

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

E-mail : divanconsultancy@rediffmail.com
Nifty support level is 10300

Last couple of days Nifty is taking support around 10300 levels. On upper side if remains above
10370 on closing basis, it has potential to go up to 10400 and 10420. On this level market may
consolidate. Below 10300 it has support at 10250 levels.
Index has support at 33450 and resistance at 33640. Next week it has to remain above 33640.
Many experts are not agreeing to Moody's upgradadition as company was fine for wrong out-
look.
In our market we have to depend on fundamentals and forth coming results.
On Thursday market ended positive because of Reliance and Infosys. Reliance is slowly climb-
ing towards four figure mark. Infosys is going up as buyback offer to start from 30/9. We feel that
Investors should opt for buy back as later there is possibility to get shares at lower price.
Fortis :- This shares were purchased by family member of India's biggest investor at price around
Rs.145.as channel announced deal, Share price went to Rs.155 or so on Thursday share went
down to Rs.125. There is report that company has cheated one person to the extent of Rs.15 lacks.
This is very bad and sooner or later there will be inquiry. We feel that it has become controversial
company and distance must be kept.
Jindal steel has become highly volatile and it's good for intraday. Below Rs 170 go on accumu-
lating to sale above Rs.172.5 to Rs 173.
Bank Nifty has support around 25200 and resistance at 25900. The amendment to insolvency
law may help PSU banks. ICICI range is Rs.315 and 324.any fall by keeping s/l at Rs.313.
On any decline buy SBI for quick gain. On announcement of huge order booking by L & T share
price decline on Thursday. L&T has resistance at 1250. Adani port may some adverse news. On
three four rupees rise sale with Rs.2 as s/l. China may affect our steel sector. it seems that Hindalco
is affected most. Tata steel, Jindal and JSW are good buy on any fall.
OPEC has decided to cut supply and that's why crude is expected to rise.64.5 and 65 are pos-
sible in this week.
Financial Weekly

INVESTMENT
Investment Ideas telegram.me/rupeegains7
Top 50 Smart Recommendations

NIFTY :- (Feb-17 to Oct-17)…
Stocks ........................................... Rec. High (%)
For nextweek NIFTY has strong support .................................................... Rate After
around 10305 levels. Break will take it to ........................................................... Recco.
10260-10230 levels. On the upper side GOA CARBON ........................... 140.45 1030.55 634%
SORIL HOLDING .......................... 33.55 227.5 578%
NIFTY will face strong hurdle at 10455 lev- FMNL .......................................... 40.35 199.75 395%
els, cross over with volume and close BHARAT SEATS ............................. 64.65 264 308%
above will create short covering at take SAKUMA EXPORTS ........................... 70 282.55 304%
NIFTY up to 10485-10550 levels… AKAR TOOLS ............................... 45.75 165.45 262%
KOLTEPATIL ................................. 102.5 340.9 233%
NATH BIO ....................................... 148 491.95 232%
BANK NIFTY TALBROS ENG ................................. 251 824 228%
For next week BANK NIFTY has strong ABC BEARINGS ............................... 150 491.1 227%
FRONTIER SPRING ............................ 72 213 196%
support around 25620 levels. Break will MEGHMANI .................................. 44.4 129.4 191%
take it to 25495levels. On the upper side SORIL INFRA ............................... 141.2 398.4 182%
BANK NIFTY will face strong hurdle at HISAR METAL ................................... 50 129.65 159%
25925 levels, cross over with volume and INDIA GLYCOL ............................. 181.6 458.9 153%
PIX TRANS ....................................... 82 198 141%
close above will create short covering at JMC PROJECT ............................ 246.45 582.85 136%
take BANK NIFTY up to 26100 levels… EON ELECTRIC .................................. 59 137.5 133%
SREE RAYALASEEMA ....................... 30.3 69.8 130%
ONWARD TECHNO ........................... 75 169.9 127%
MUKAND LTD .............................. 49.35 109.35 122%
To get free market related information, ROYAL ORCHIED ............................... 86 183.7 114%
join with my telegram ID "TELEGRAM.ME/ GTN TEXTILE ................................. 17.4 37 113%
RUPEEGAINS7". Also inform your friends/ LKP FINANCE ............................... 80.45 170 111%
relatives who are interested in stock mar- SHILP GRAVURES ........................... 85.3 180 111%
FRESHTROP FRUIT .......................... 104 218 110%
ket & want to create wealth from stock mar- HILTON METAL ................................. 26 54 108%
ket to join my telegram id "TELEGRAM.ME/ BNK CAPITAL ................................. 67.4 137.95 105%
RUPEEGAINS7". For that in your mobile ORIENT ABRASIVES ....................... 34.2 67.4 97%
download app TELEGRAM & then in DIAMINES & CHEM .......................... 56 109.65 96%
PURAVANKARA .............................. 79.1 152.65 93%
search type RUPEEGAINS7 & then click AJMERA REALTY ........................... 177.2 339.4 92%
on join. PATSPIN ........................................... 23 44 91%
GRAUER & WEIL ............................... 40 73.65 84%
RUPEEGAINS7 - CROSS ANOTHER AGRITECH ..................................... 82.8 149 80%
MILESTONE 12463+ satisfied group mem- BALASORE ALLOYS ............................ 56 99.8 78%
bers. PUDUMJEE PAPER ......................... 19.2 34.2 78%
MMTC .......................................... 58.3 101.7 74%
MUNJAL AUTO .............................. 54.5 94.1 73%
KRITI NUTRIENTS ............................. 20 34 70%
MANGALORE CHEM ....................... 50.5 84.4 67%
DYNAMIC IND .................................. 71 117.6 66%
PHYTOCHEM............................... 51.55 85 65%
AMAL ............................................. 138 226 64%
BLACKROSE IND ............................... 26 42.45 63%
P G FOILS ...................................... 124 198.9 60%
JINDAL SAW ..................................... 84 133.7 59%
MOLD-TEK TECH ........................... 50.5 79.65 58%
VIMTA LAB ..................................... 109 164.3 51%
MANKASIA COATED ..................... 10.65 15.9 49%
Cont....
Financial Weekly

INVESTMENT
SHORT TERM to
MEDIUM TERM INVESTMENT IDEAS…
GAEL (524226& NSE) (176.15) (Face Value Rs.2) :- Stock is looking hot on chart.
Technically it is ready for up move. Watch with a stop loss of Rs.173 for a quick target of Rs.180-
182.
FSL (532809& NSE) (42.6) (Face Value Rs.10) :- First source is a leading Busi-
ness Process Management (BPM) company, providing customer-centric business process ser-
vices.
The company works with Fortune 500, FTSE 100 companies in the US, the UK, Philippines,
India and Sri Lanka.
For H1FY18, its PAT stood at Rs.134.16crore against Rs.144.62crore on income of
Rs.1697.04crore fetching an EPS of Rs.1.97.
FSL's net long-term debt stands at US$64.3mn in Q2FY18. Debt repayment continues as pat
per plan and management has guided for debt-free company by FY19.
Watch with a stop loss of Rs.36. On the upper side, it could zoom to Rs.55-60 levels in medium
term.
CMI LTD(517330& NSE) (209) (Face Value Rs.10) :- Incorporated in 1967, New
Delhi based CMI Limited manufactures, sells, and exports various cables in India, North America,
Latin America, Europe, China, and the Asia Pacific. The company offers various type of cables.
It has an equity base of just Rs.14.78crore that is supported by reserves of around Rs.189.8crore
which is almost 12.84 times higher against equity. The promoters hold 43.55% while the investing
public holds 56.45% stake in the company. GMO emerging funds hold 9.79% stake, PulkitSekhsaria
hold 1.03%, Prashant Kothari hold 1.51% stake in the company.
For Q2FY18, CMI's net profit zoomed 111.55% to Rs.6.41crore on 46.19% higher sales of
During H1FY18, its net profit soared 167.10% to Rs.12.18crore on 57.39% higher sales of
Currently, the stock trades at a P/E of just 8.1x which is cheapest against peers.
Based on the above financial and performance parameters, the CMI share looks quite attractive
at the current level. Investors can buy this stock with a stop loss of Rs.190. On the upper side, it
could zoom to Rs.240-245 levels in the short to medium term & Rs.300 levels in long term. Its all-
time high rate is Rs.424.
TRITON VALVES LTD (505978& NSE) (1797.65) (Face Value Rs.10) :-
Incorporated in 1975, Bengaluru based Triton Valves Limited designs, manufactures, and sells
automotive tire tube valves, valve cores, and accessories in India. It offers valves for bicycles,
mopeds, motor cycles, scooters, cars and vans, trucks and buses, tractors, industrial vehicles,
aircrafts, curing bags, and OTRs; cores, such as standard and large bores; and accessories com-
prising valve caps, bridge and ring washers, rubber washers, rubber bases, and bushes, as well
as rim, hex, and lock nuts. It also exports its products.
It has an equity base of just Rs.0.99crore that is supported by reserves of around Rs.64.40crore
which is almost 65 times higher against equity. The promoters hold 50.49% while the investing
Financial Weekly

INVESTMENT
public holds 49.51% stake in the company. SBI Long term advantage fund holds 1.01% stake in
this company.
For Q2FY18, TVL's net profit zoomed 12.54% to Rs.2.96crore on 23.35% higher sales of
Rs.58.82crore fetching an EPS of Rs.30.21 on YoY basis. Its profit rose by 127% on quarterly
basis.
During H1FY18, its net profit marginally decline to Rs.4.26crore on higher sales of Rs.106.12crore
fetching an EPS of Rs.43.35.
Currently, the stock trades at a P/E of just 20.8x. It has paid 150% dividend for FY17.
Based on the above financial and performance parameters, the TVL share looks quite attractive
at the current level. Investors can buy this stock with a stop loss of Rs.1510. On the upper side, it
could zoom to Rs.2250 levels in the short to medium term & Rs.2600 levels in long term.
Disclosures: At the time of writing this article, author, his clients & dependent family members
may have positions in the stocks mentioned above. The author, his firm, his clients or any of his
dependent family members may make purchases or sale of the securities mentioned in website.
Author may have positions in above stocks so have vested interest obviously in their going up or
down as the case may be.
Disclaimer: Investing in any equity is risky. Our recommendations are based on reliable & au-
thenticated sources believed to be true & correct, and also is technical analysis based on & con-
ceived from charts. Investors should take their own decisions. We assume no responsibility for
any transactions undertaken by them. The author won't be liable or responsible for any legal or
financial losses made by anybody.
BUY.... BUY....BUY TIPS OF THE WEEK

Co. Name Code Price Co. Name Code Price
Tamilnadu Pet. 500777 77.00 Precision Wires 523539 221.00
IOL Chemical 524164 80.00 Elgi Equipments 522074 268.00
NCC 500294 110.00 Sadbhav Engg. 532710 357.00
DCB Bank 532772 186.00 Cyient 532175 567.00
Balasore Alloy 513142 80.00 IRB Infra 532947 232.00
Heidelberg 500292 162.00 Godrej Cons. 532424 969.00
Ganesh Hsg. 526367 129.00 Mind Tree 532819 511.00
HUDCO 540530 84.00 TVS Motor 532343 739.00
Tata Coffee 532301 159.00 TCS 532540 2688.00
Vivimed Lab. 532660 118.00 Bajaj Fin. 500034 1785.00
Exide Ind. 500086 206.00 Colgate 500830 1052.00
DLF 532868 228.00 Tech Mah. 532755 493.00
Apollo Tyres 500877 253.00 Infosys 500209 1009.00
Financial Weekly

INVESTMENT
Soham Finstock
AS PER ASTROVIEW, (M. : 9106458805)
Email ID :
BE FOCUS ON INFRASTRUCTURE STOCK Sohamjoshi210@gmail.com
Many of our recommendation in smart Investment have proven to be block - buster stocks in less
than one month span of time. Plenty of Soham Finstock readers were elated by our stunning
recomandations.One of which IOL Chemical which was recommended at Rs.62 has marked 3
continuous buyer circuits which closed at Rs.80.45 on Friday. In both the exchanges (NSE/BSE)
there was a long queue of buyers. Another recommendation-Nila Infrastructure which one recom-
mended at Rs.18 which was closed at Rs.24.Thirdly, Kriti Industries recommended at Rs.36, which
was closed at Rs.44.90.
IOL Chemical may be seen in three digits in future, please be focus on this stock. You can see in
a Multibeggar series.
Last Friday, our Monday Intraday special, Foseco India Shoot up Rs.160 in a day. In this way,
Smart Investment reader got huge profit smartly in a day of readers of Soham Fin Stock.
Astro view :- Looking to the planatic position of dated 27/11/2017,Time 9:15 am,Dhanu
Asscendant.Mercury is placed at Dhanu rashi,ketu is in Makar ,Moon is in kumbh,Rahu is in
Kark,Mars is in vergo,Jupiter is in tula,combination of sun + venus,overall position will indicate that
big volatibility can seen.Eventhough in big volatility,focus on Infra structure stocks of good com-
pany.
Company Name Code Suggested Price SL Target
Star cement (3 months) NSE/540575 125 118 130,140,160
Kriti Industries (6 months) BSE 42 36 45,55,65
Sun Pharma (1 year-3 years) NSE/BSE 548 512 575,675,800
Bombay Dyeing(3 years) NSE/BSE 180 to 200 140 400,500,1000
As per Tarot card, just a month back, we predicted expontial gain in IOL
Chemical. The prediction was absolutely amazing and left the investor with
huge amount of profit in this stock.IOL Chemical is pretty good for long term
investment.
Kriti Industries around Rs.42 may be double in a year.So,be focus on this
stock.
Due to month expiry, big volatility may be observed (Be focus on
Infrastrcture stock of good company)
Financial Weekly

INVESTMENT
Primary Market - Dilip K. Shah
Recently NSE SME Emerge platform celebrated listing of 100th company on the platform
Total SME listed on the bourse touch 310 with listing of 210 SMEs on BSE SME platform
Out of 5 NSE SME IPOs in the market three are from Ahmedabad
Zodiac Energy and Felix Ind's issues that opened on November 23 will close on November 27
Ice-Make's issue with offer price of 55-57 opening on November 28 will create sensation in the market
Shradha Infra and InnovanaThinkalabs's issue with price of
Rs70 will open on November 28 and 29 respectively
In the first week of December Shalby and Future Supply IPOs to enter into the market
With increasing fancy in Ice-Make subscription increases many fold and listing will also be with a bang
Last week all four SME IPOs hit the upper circuit of 20%
New Jen Software and Apollo Micro Sys get Sebi permission
Sharika Enter IPO gets robust response with 60% subscription
More than half a dozen issues are ready to hit the market
Prior to April 2012 only 30-40 public issues to enter the market and remaining time of the
year used to be like mini vacation. However, after launch of SME platform the activities have
been witnessing throughout the year. There is hardly any week that has not witnessed SME
issues. In the first half of 2018, 18 issues were in the market.
In the main board category HDFC Standard Life and in SME category Zodiac Energy, Felix
Ind, Shradha, Ice-Make Ref Ltd and InnovanaThinklabs are in the market and getting good
response.
This week no mainboard issues are in the market but in the first week of December four to
six mainboard issues will be entering into the market including Shalby Ltd and Future Supply
Chain along with Astron Paper and NSE Ltd. More than half a dozen SME issues are also
NSE SME IPO

Sr Company Issue Open Dt. Issue size Offer price Minimum Rating Remark
Issue Close Dt. (Rs. Cr.) (Rs.) Applications Size %
1. Zodiac 23-11-2017 19,50,000 Eq. 52 2000 Shares 38 % Apply for
Energy 27-11-2017 (Rs. 10.14 Cr.) (Rs. 1,04,000) Short - Medium Term
2. Felix 23-11-2017 13,68,000 Eq. 35 4000 Shares 30 %
Industries 27-11-2017 (Rs. 4.79 Cr.) (Rs. 1,40,000) AVOID
3. Shradha 27-11-2017 27,04,000 Eq. 70 2000 Shares 35 %
Infra Projects 30-11-2017 (Rs. 18.93 Cr.) (Rs. 1,40,000) Average
4. ICE-Make 28-11-2017 41,60,000 Eq. 55 to 57 2000 Shares 42 % Attractive
Refrigeration 30-11-2017 (Rs. 23.71 Cr.) (Rs. 1,14,000) (Listing Gain)
5. Innovana 29-11-2017 11,00,000 Eq. 70 2000 Shares 33% High Risk
Thinklabs 4-12-2017 (Rs. 7.7 Cr.) (Rs. 1,40,000) Low Returns
Financial Weekly

INVESTMENT
gearing up to enter into the market. Grey Market Premium

IPOs Offer Price Premium Kostak Price Subject to Sauda
* SME IPOs :- Last week NSE SME Name (Rs.) (Rs.) Min.Appl.(Rs.) (Confirm) (Rs.)
Ice-Make Ref. 55 to 57 -- 900 28000 to 30000
Emerging platform celebrated 100th list- Zodiac Energy 52 1200 13000
Silver Touch 900
ing of SME company on its platform. BSE Do not subscribe for IPO by just seeing premium price as it may change anytime
before listing : Subscribe only considering fundamental of the Companies
SME platform has already witnessed list- For latest grey market premium please check everyday
www.smartinvestment.in
ing of 210 companies. Upcoming IPO

* SME subscription:- Astron Paper & Board Mill
NSE India
Sharika Enterprise :- The BSE SME IPO has got 59.27 times Continental Warehousing
GVR Infra Projects Limited
subscription and closed on November 17. Paranjape Schemes Limited
SSIPL Retail Limited
Silver Touch Technologies :- The issue closed on November Sandhar Technologies
Maini Precision Products Lim.
23 with 10.42 times subscription. KPR AGROCHEM LIMITED
New Delhi Center for Sight
Zodiac Energy :-The issue got 10.37 times subscription on the Nihilent Techonologies
Hinduja Leyland Finance
first day and will close on November 27. It may get 20-25 times Seaways Shipping and Log.
Vodafone India
subscription. Go Airlines
Aster DM Healthcare
Felix Industries :- NSE SME IPO got 1.21 times subscription Genesis Colors
G R Infraprojects
on the second day. It will also close on November 27. Cent Bank Home Finance Ltd.
VLCC Health Care
* Last week's SME IPO Listing:-

Sanghavi Brands (540782) :- As against issue price of Rs69, it got listed with 10%
premium at Rs75.90 and went up to Rs82.80 and down to Rs74 before closing at 82.80 on
November 22. On Friday, the script closed at 119.20.
ANI Integrated :- NSE SME issue with offer price fixed price of Rs100 got listed with
Bharat 22 Set to provide listing gains upper circuit of 20% at Rs120 and re-
With Markets bottomed near 10100 and looks to make fresh highs.
It seems that Bharat22 ETF mained in the upper circuit despite little
Will have 3 day weighted average price coming low
15th Nov. 36.74 ups and downs. On Friday, the issue was
Average should be near 37.02
16th Nov. 37.07
After 3% Discount it would cost 35.90
17th Nov. 37.24 traded at 176.30. It has given more than
- Predicting markets making new top in next 2 weeks, we can
forecast price of Bharat 22 to be 38.50 75% return.
- This will give a margin of 6% on listing day to allottees.
- At Rs. 2 Lacs application you get 5550 units and at 38.50 it would PulzEle :- The issue with fixed price of
give a profit of Rs. 14300
@ 37.25 todays rate = 7500 profit 54 got listed with 20% upper circuit at
or @ 36.75 low rate of few days back = 4600 profit
all the best to those subscribed
Rs64.80 and went down to 58.30 before
Financial Weekly

INVESTMENT
Main - line IPO (Non SME)

Sr Company Issue Open Dt. Issue size Offer price Min. Listing Lead
Issue Close Dt. (Rs. Cr.) (Rs.) App. Manager
1. Shalby 5-12-17 Fresh Issue : Rs. 580 Cr. -- -- BSE Edelweiss
Ltd. 7-12-17 OFS : 10,00,000 Eq. Shares -- -- NSE IDFC Bank,
(Book Building) IIFL Holdings
2. Future 5-12-2017 87,84,570 Eq. Shares -- -- BSE IDFC,
Supply Chain 7-12-2017 (Rs. 750 Cr.) Approximate -- -- NSE Yes Bank,
(Book Building) (Likely) IIFL Holdings
closing at 64.05.
VertozAdvt :- The issue with fixed price of Rs108 got listed on November 24 at Rs113 and
went up to Rs129 and down to Rs113 before closing at 129, which is 20% upper circuit.
* This week's SME IPOs :- This week five SME IPOs are opening of which three are from
Gujarat. The details are given in the separate box.
Zodiac Energy :- The issue with fixed price of Rs52 has opened on November 23 and
close on November 27. It has got 10 times subscription and may get 20-25 times subscrip-
tion. It may get listed with 20% upper circuit.
Felix Ltd :- Ahmedabad-based company's issue with fixed price of Rs35 has opened on
November 23. It has got 1.21 times subscription on the first day. Despite good performance
it is not getting higher response because of high cost.
Shradha Infra :- Nagpur based company's issue with fixed price of Rs70 will open on
November 27 and close on November 30. It can be considered for long term investment only.
* Ice-Make Refregiration :- Ahmedabad-based company's issue with price band of 55-57
Subscription Figure SME IPOs is entering into the market on November

IPO Listing Day Subscribed
Sharika Enterprise BSE SME Issue Closed on 17-11-2017 59.27x 28 and will close on November 30. The
Silver Touch Tech. NSE SME Issue Closed on 23rd November 10.42x
Zodiac Energy NSE SME 2nd Day Subscribed 10.37x company's Rs23.71 crore issue will be
Felix Industries NSE SME 2nd Day Subscribed 1.21x
attractive due to sound track record,
Listing Information of SME IPOs
strong financial performance, monopoly
ANI Sanghvi Pulz Vertoz
Integrated Brands Ele. Advt. business and sound customer base. It
NSE SME 540782 NSE SME NSE SME
Listing Date 20-11-17 22-11-17 24-11-17 24-11-17 may get 30/40 times subscription. The
Offer Price 100.00 69.00 54.00 108.00
Listing Price. 120.00 75.90 64.80 113.00 issue may get listed with 20% supper
Listing Day High 120.00 82.80 64.80 129.60
Listing Day Low 120.00 74.00 58.30 113.00 circuit.
Listing Day Close 120.00 82.80 64.05 129.60
CMP (24-11-17) 176.30 119.20 64.05 129.60 InnovanaThinklabs :- Jaipur-based
Financial Weekly

INVESTMENT
company will enter into the market with Rs7.7 crore issue on November 28. Offer price is
Rs70. Issue will close on December 4. It is high risk-low return issue.
* Upcoming mainboard issues:-
Shalby Ltd :- Ahmedabad-based multi-specialty hospitality chain will come up with issue
offering fresh equity worth Rs580 crore and 10 lakh shares through OFS. The lead managers
are Edelweiss, HDFC Bank, IIFL Holdings. The issue will open on December 5 and close on
December 7.
Future Supply Chain :- Future Group promoted company provides logistic service. The
issue offering 97,84,570 equity shares may open on December 5. Issue size could be Rs750.
It may be in price band of Rs700 to 800.
* Insight into upcoming issues:-
Ambar Enterprise :-Gurugram-based company is planning to offer fresh equity of Rs450
crore and Rs105 crore worth shares through OFS in total Rs555 crore issue.
Newgen Software :- It has got Rs95 crore worth fresh equity and 13453922 shares through
OFS in Rs400 crore issue. Lead manager is ICICI Securities and Jeffery, while merchant
banker is IDFC.
Apollo Micro Systems :- It has got Sebi nod for Rs156 crore issue.
Grey Market Movement

In absence of mainboard issues, SME issues rule the market
Ice-Make subject-to rates sky rocketed from Rs7000 to Rs30000
Zodiac Energy interest rates and subject to rates on high level from beginning
Silver Touch interest rates crumble: No deals in subject to rates
In the first week of December main board issues will start entering into the market
In absence of mainboard issues, the SME issues have been ruling the grey market.
Ice-Make :- The interest rates were at Rs700 and subject to rates were Rs7000 which has sky
rocketed to 28000-3000. The deals are taking place at this rate so the subject to rates are likely to
go up further.
Zodiac Energy :- The interest and subject to rates have been on higher side from the begin-
ning. The interest rates are 1100 while subject to rates are 9000 to 10000. Currently interest rates
are 1000 and subject to rates are believed to be at 13000.
Silver Touch :- The interest rates started from Rs700 and went up to Rs1100 but now it is
around Rs800-900. There are no deals taking place in subject to category.
Financial Weekly

INVESTMENT
Zodiac Energy NSE SME IPO

Opened on Nov. 23 & Closes on Nov. 27, 2017
Offer price fixed at Rs. 52 ; Listing on NSE SME Emerge
Considering improvement in
financial performance apply for mid term
Zodiac Energy Ltd.(ZEL) is a Energy Solution Provider company having experience of more
than two decades in majority of verticals of power generations spectrum. Their spectrums of
services are including Design, supply, installation, Testing and Commissioning (EPC) and
Operation and Maintenance (O&M). Thus it provides turnkey solutions from concept to commis-
sioning of power plants. ZEL has installed solar power plants for many prominent clients like
Sun-Edison India Limited, Adani Group, Torrent Power Limited, Gujarat Energy development
Agency, Reserve Bank of India, Directorate of Lighthouse and Lightships Government of India
(GoI),
To part finance its working capital and general corpus fund needs, ZEL is coming out with a
maiden IPO of 1950000 equity shares of Rs. 10 each at a fixed price of Rs. 52 per share to
mobilize Rs. 10.14 crore. Issue opens for subscription on 23.11.17 and will close on 27.11.17.
Minimum application is to be made for 2000 shares and in multiples thereon, thereafter. Post
allotment, shares will be listed on NSE SME Emerge. Issue constitutes 26.65% of the post issue
paid up capital of the company. Issue is solely lead managed by Swastika Investmart Ltd. and
Link Intime India Pvt. Ltd. is the registrar to the issue. Since inception till March 2008 it issued
equity shares at par and also a bonus issue in the ratio of 1 for 1 in September 2007. It raised
further equity at a price of Rs. 23 per share in September 2017 and has also issued bonus in the
ratio of 1 for 1 in the same month. Post issue, its current paid up equity capital of Rs. 5.37 crore
will stand enhanced to Rs. 7.32 crore. Average cost of acquisition of shares by promoters rang-
ing from Rs. 2.50 to Rs. 9.40 per share.
Financial Performance :- On performance front, ZEL has reported turnover/net profits of Rs.
9.53 cr. / Rs. 0.11 cr. (FY14), Rs. 8.70 cr. / Rs. 0.05 cr. (FY15), Rs. 9.20 cr. / Rs. 0.11 cr. (FY16)
and Rs. 16.74 cr. / Rs. 0.24 cr. (FY17). For Q1 of current fiscal it has posted net profit of Rs. 0.49
crore on a turnover of Rs. 8.25 crore. Thus last 15 months working has shown robust growth
which is really surprising. For last three fiscals it has reported an average EPS of Rs. 0.46 and
average RoNW of 11.30%. Issue is priced at a P/BV of 2.33 on the basis of post issue NAV. If we
annualize latest earnings and attribute it on fully diluted equity post issue, then asking price is at
a P/E of around 19 plus against peers trading at a P/E ranging from 13 to 138. Thus issue
appears fully priced.
BRLM's Performance :- On merchant banker's front, this is the 8th mandate from its stable in
past two years. All of last 7 listings have opened at a premium ranging from 4 to 20% on the offer
price on the day of listing.
Recommendation : Company's financial performance is improving but robust growth is
surprising. One can apply for mid term investment in this IPO
Financial Weekly

INVESTMENT
Felix Industries NSE SME IPO

Opened on Nov. 23 & Closes on Nov. 27 ; Offer price Rs. 35
Considering non-encouraging performance &
aggressive offer better to avoid
Felix Industries Ltd. (FIL) is an environmental conservation company with a fundamental
vision of "Recycle-Reuse-Recover-Reduce". As the management of environmental issues are
becoming increasingly important and complex in both rapidly developing and developed coun-
tries, circular economy are becoming critical issues and here FIL is playing an important role as
a "value creator". Company is providing service and technology for water and wastewater man-
agement services to municipal and industrial customers.
To part finance its building and construction cost, procurement of machineries, furniture &
fixtures, working capital and general corpus fund needs, FIL is coming out with a maiden IPO of
1368000 equity shares of Rs. 10 each at a fixed price of Rs. 35 per share to mobilize Rs. 4.79
crore. Issue opens for subscription on 23.11.17 and will close on 27.11.17. Minimum applica-
tion is to be made for 4000 shares and in multiples thereon, thereafter. Post allotment, shares
will be listed on NSE SME Emerge. Issue is solely lead managed by Monarch Networth Capital
Ltd. and Bigshare Services Pvt. Ltd. is the registrar to the issue. Issue constitutes 26.86% of the
post issue paid up capital of the company. It has issued equity at par so far and has also issued
bonus shares in the ratio of 7 shares for every 10 shares held in September 2016. Post issue, its
current paid up equity capital of Rs. 3.72 crore will stand enhanced to Rs. 5.09 crore.
Financial Performance :- On performance front, FIL has posted turnover/net profits of Rs.
4.13 cr. / Rs. 0.05 cr. (FY14), Rs. 2.92 cr. / Rs. 0.04 cr. (FY15), Rs. 3.29 cr. / Rs. 0.11 cr. (FY16)
and Rs. 5.19 cr. / Rs. 0.17 cr. (FY17). For first seven months period ended on 31.10.17 of the
current fiscal, it has posted net profit of Rs. 0.23 crore on a turnover of Rs. 3.46 crore. Thus while
top line has shown inconsistency, bottom line has shown northward march. First seven months
performance is rather surprising. For last two fiscals, it has posted an average EPS of Rs. 2.81
and average RoNW of 14.47%. Issue is priced at a P/BV of 3.19 on the basis of NAV as on
31.10.17. If we annualize latest earnings and attribute it on fully diluted equity post issue, then
asking price is at a P/E of around 45 against peers trading at a P/E ranging from 22 to 50. Thus
issue is aggressively priced.
Merchant Banker Performance :- On merchant banker's front, this is the 5th mandate from
its stable since 2012-13 and out of last 4 listings 1 opened at par, two with a premium ranging
from 4 to 5% and one at 45% premium on the day of listing.
Recommendation : Looking to the PE of at 45 and P/BV 3.19, It's a expensive offer hence
there is no harm in giving this issue a miss.
Financial Weekly

INVESTMENT
Shardha Infraprojects IPO

Opens on Nov. 27 & Closes on Nov. 30 2017
Offer price fixed at Rs. 70; Listing on NSE SME Emerge
Considering unstable performance; its average issue
Shradha Infraprojects (Nagpur) Ltd. (SINL) is a real estate development company, engaged in the
business of development and sale of residential as well as commercial properties (the "Development
Business") and the development and leasing of commercial properties (the "Lease Business"). Com-
pany is primarily operating in Nagpur focused on premium developments with presence in residential,
Commercial and hospitality in mixed-use and single-segment developments.
To part finance its plans for investment in Suntech Infra, acquisition of land or land development
rights and general corpus fund needs, SINL is coming out with a maiden IPO of 2704000 equity shares
of Rs. 10 each at a fixed price of Rs. 70 per share to mobilize Rs. 18.93 cr. Issue consists of fresh equity
issue of 2132000 shares and offer for sale of 572000 equity shares. Issue opens for subscription on
27.11.17 and will close on 30.11.17. Minimum application is to be made for 2000 shares and in multiples
thereon, thereafter. Post allotment, shares will be listed on NSE SME Emerge. Issue constitutes 28.04%
of the post issue paid up equity capital of the company. Issue is solely lead managed by Aryaman
Financial Services Ltd and Bigshare Services Pvt. Ltd. is the registrar to the issue. Average cost of
acquisition of shares by the promoters ranges from Rs. 0.38 to Rs. 4.07 per share. Since inception till
March 2000 it issued equity at par. It also allotted equity at par in August 2011. In August 2003 it raised
fresh equity at a price of Rs. 200 per share. It has issued bonus shares in the ratio of 25 for 1 in August
2017. Post issue, its current paid up equity capital of Rs. 7.51 crore will stand enhanced to Rs. 9.64
crore.
Financial Performance :- On performance front, SINL has (on consolidated basis) posted turnover/
net profits of Rs. 27.87 cr. / Rs. 8.71 cr. (FY16), Rs. 42.55 cr. / Rs. 4.74 cr. (FY17). For Q1 of current
fiscal, it has posted net profit of Rs. 1.49 crore on a turnover of Rs. 5.98 crore. Thus, there is no consis-
tency in its performance. It suffered a setback in bottom line for FY17. It has posted an average EPS of
Rs. 8.01 and RoNW of 21.42% for last two fiscals on an equity base of Rs. 0.29 crore. Asking price is at
a P/BV of 1.44 on the basis of post issue NAV. If we annualize latest earnings and attribute it on post
issue paid up equity capital, then asking price is at a P/E of around 11 against peers trading at a P/E
ranging from 13 to 18. Jump in current fiscal's Q1 net profit is surprising.
BRLM’s Performance :- On merchant banker's front, this is the 19th mandate from its stable in past
three years. Out of last 10 listings, 2 IPOs opened at a discount to offer price, 1 at par, 5 with premium
ranging from 0.15% to 2% and the balance 2 with a premium ranging from 8 to 20%. Thus it has poor
track record.
Recommendation : Looking to the setback in bottom-line for FY 17 and jump in Q1 Net Profit is
surprising. It's average issue. Apply for long term.
Financial Weekly

INVESTMENT
ICE-Make Refrigeration Ltd. NSE SME IPO

Opens on Nov. 28 & Closes on Nov. 30, 2017
Price band Rs. 55 to 57 ; Listing on NSE - SME Emerge
Considering, proven track record &
Reasonable offer apply for listing - short term gain
Ice Make Refrigeration Ltd. (IMRL) is a refrigeration equipment manufacturer, engaged in providing
cooling solutions. Company provides cooling solutions for cooling systems and accessories used in
industries such as dairy, ice-cream, food processing, agriculture, pharmaceuticals, cold chains, logis-
tics, hospital, hospitality and retail, among others. It classifies its business into 4 verticals: (i) Cold
Room (ii) Commercial Refrigeration (iii) Industrial Refrigeration and (iv) Transport Refrigeration. IMRL
operates its business verticals under the brand of "Ice Make". Top 5 products of the company are (i)
Cold Room (ii) Commercial Freezer (iii) Chiller (iv) Refrigerated Vehicle and (v) Ice Cream Hardener. In
December 2016, it acquired 'Bharat Refrigeration Private Limited', a company based in Chennai, en-
gaged in similar business, which is now a wholly owned subsidiary. Bharat Refrigeration Private Limited
is present in the above business verticals through the brands named 'Bharat' and 'Trans Freez'. IMRL's
dealers and associates are present in the cities of Bikaner, Cochin, Cuttack, Goa, Hubli, Jodhpur,
Kolhapur, Kolkata, Nagpur, Patna, Pune, Pondicherry, Trivandrum, Kathmandu and Colombo. Its cus-
tomers include leading and reputed names across each industry. To name some of them are Amul,
Havmor, Vadilal, The Grand Bhagwati, Thirumala, Sankalp, Vimal Dairy, Scoops, Himalayan, Kitchen
Express, Urmin, Haldiram's Prabhuji etc. etc...
To part finance its setting p of coil manufacturing facility, upgrading existing facilities, constructing
administrative office, brand building, investment in subsidiary, working capital and general corpus fund
needs, IMRL is coming out with a maiden IPO of 4160000 equity shares of Rs. 10 each via book-
building route with a price band of Rs. 55-57 per share to mobilize Rs. 22.88 cr. to Rs. 23.71 cr. (based
on lower and upper price bands). Issue opens for subscription on 28.11.17 and will close on 30.11.17.
Minimum application is to be made for 2000 shares and in multiples thereon, thereafter. Post allotment,
shares will be listed on NSE SME Emerge. Issue is solely lead managed by Vivro Financial Services
Pvt. Ltd. and Link Intime India Pvt. Ltd. is the registrar to the issue. Issue constitutes 26.54% of the post
issue paid up capital of the company. Having raised initial equity at par in the year 2009 and 2010, it
raised further equity at a fixed price of Rs. 75 per share between October 2010 and January 2014. It has
also issued bonus shares in the ratio of 4 for 1 in March 2016 and 3 for 5 in June 2017. Post issue, its
current paid up equity capital of Rs. 11.51 crore will stand enhanced to Rs. 15.67 crore. Cost of acqui-
sition of shares by promoters ranges from Rs. 3.27 to Rs. 3.76 per share.
Financial Performance :- On performance front, while on standalone basis it reported continuous growth
in top and bottom lines that went up from Rs. 39.26 crore and Rs. 0.89 crore in FY14 to Rs. 87.88 cr. and Rs.
5.11 cr. in FY17. For Q1 of current fiscal, it has posted net profit of Rs. 1.47 crore on a turnover of Rs. 23.05
crore. On consolidated basis it has posted net profit of Rs. 5.09 crore on a turnover of Rs. 88.24 crore for
FY17 and net profit of Rs. 1.41 crore on a turnover of Rs. 23.08 crore. It has reported an average EPS of Rs.
3.12 and RoNW of 26.99% for last three fiscals on standalone basis on an equity base of Rs. 11.51 crore. On
consolidated basis it has posted an EPS of Rs. 4.42 for FY17 and RoNW of 32.91%. If we annualize latest
earnings and attribute it on fully diluted equity post issue, then asking price is at a P/E of around 15. Issue is
priced at a P/BV of around 3.88 based on NAV as on 30.06.17. As per offer documents, it has no listed peer
to compare with. Thus it enjoys virtual monopoly with creamy list of customers. From FY13 to FY17, it has
reported CAGR of 21% in top line, 40% in EBIDTA and 58% in PAT. Management is confident of maintaining
its role as "Trusted Cooling Partners" with improved performance post coil plant going on stream.
BRLM's Performance : - On merchant banker's front, this is the first mandate for SME platform from
its stable. It brought a main board IPO of Capacit'e in Sept. 2017 that opened at a premium to offer price
on the day of listing.
Recommendation : Considering proven track record, Monopoly business, creamy customers, ex-
cellent - Financial performance & reasonable offer one can apply for listing and short term gain.
Financial Weekly

INVESTMENT
Innovana Thinklabs NSE SME IPO

Opens on Nov. 29th & Closes on Dec. 4, 2017 ;
Offer price fixed at Rs. 70;
It's overpriced IPO;
One can apply for long term in this risky issue
Innovana Thinklabs Ltd. (ITL) (earlier known as PCWARK Software Ltd.) is engaged in soft-
ware and application development business which directly provide services to retail user. Com-
pany basically designs, develops and maintains software systems and solutions, create new
applications and enhance the functionality of customers' existing software products. ITL has
developed number of products and these products have registered their presence and popular-
ity in 13 different languages and over 126 countries.
To part finance its capital expenditure, working capital and general corpus fund needs, ITL is
coming out with a maiden IPO of 1100000 equity shares of Rs. 10 each at a fixed price of Rs. 70
per share to mobilize Rs. 7.70 crore. Issue opens for subscription on 29.11.17 and will close on
04.12.17. Minimum application is to be made for 2000 shares and in multiples thereon, thereaf-
ter. Post allotment, shares will be listed on NSE SME Emerge. Issue is solely lead managed by
Swastika Invest mart Ltd. and Skyline Financial Services Pvt. Ltd. is the registrar to the issue.
Average costs of acquisition of shares by promoters are at Rs. 1.25 and Rs. 5.92 per share.
Issue constitutes26.83% of post issue paid up capital of the company. From inception till 2015,
it issued equity shares at par. It has also issued bonus shares in the ratio of 7 shares for every 1
share held in July 2017 and has issued fresh equity (1400000 shares) at a price of Rs. 11 per
share. Post issue its current paid up capital of Rs. 3.00 crore will stand enhanced to Rs. 4.10
crore.
Financial Performance :- On performance front, ITL has reported turnover/net profits of
Rs.6.64 cr. / Rs. 0.59 cr. (FY16) and Rs. 15.77 cr. / Rs. 0.97 cr. (FY17). For Q1 of current fiscal,
it has posted net profit of Rs. 0.28 crore on a turnover of Rs.5.39 crore. It has reported an aver-
age EPS of Rs. 5.28 and average RoNW of 61.67% on an equity base of Rs. 0.20 crore. Issue is
priced at a P/BV of 3.03 on the basis of post issue NAV. If we annualize latest earnings and
attribute it on fully diluted equity post issue, then asking price is at a P/E of around 25 plus
against industry average of 18. Thus issue is priced aggressively. As per offer documents its
peers are trading at a P/E ranging from 13 to 17.
BRLM's Performance : - On merchant banker's front, this is the 8th mandate from its stable.
Last 7 IPOs have opened with a premium ranging from 4.5% to 20% on the offer price on the day
of listings.
Recommendation : This issue is overpriced; hence investor may apply for long term in this
risky IPO.
Financial Weekly

INVESTMENT
Smart Best Buy S. N. Zaveri
Bajaj Finance : Accumulate in this time of consolidation

Balkrishna Industries : One of the most profitable company in the country
PC Jeweller : Add this Jewell in your portfolio
Aurobindo Pharma : One of the most favourite stocks in pharma sector
L&T up on new orders and metro project outsite country
Bajaj Finance (Rs. 1785.00) (Code : 500034) (F. V. : 2.00) :- Bajaj Finance, the
lending subsidiary of Bajaj Finserv, has reported strong Q2 nunbers. The non-banking finance
company’s (NBFC) net profit during the quarter saw a 37 per cent rise to Rs 557 crore from Rs 408
crore in the same period for the previous year.The NII for the quarter ended September increased
41 per cent, year on year, to Rs 1,958 crore from Rs 1,385 crore. Total income rose by to Rs 3,102
crore, from Rs 2,341 crore in year-ago quarter, up by 33 per cent.The NBFC’s capital adequacy in
September was 25.42 per cent with a tier-I capital ratio of 19.86 per cent. The company has raised
Rs 4,500 crore of equity capital through institutional investors during the quarter.The company’s
AUM during the quarter was Rs 72,139 crore, up from Rs 52,332 crore in the corresponding quarter
of previous year, up by 38 per cent. The stock has given huge return to its shareholders in recent
times.It has been in consolidation mode since last three months. Accumulate before new upmove
starts.
Balkrishna Industries (Rs. 2074.00) (Code : 502355) (F. V. : 2.00) :- Balkrishna
Industries’ stock has more than doubled in the past year. It has been outperformer since last one
decade. Balkrishna Industries is the country’s second-largest tyre maker by market capitalisation.
It manufactures off-highway tyres (OHT) used in sectors such as agriculture (tractors), construction
(loaders and dumpers) and off-road applications, including mining. Falling natural rubber prices,
expectations of a strong double-digit volume growth and improvement in margins over FY17-20
are key reasons why the Street is bullish on the stock of this niche tyre firm. Balkrishna Industries
(BIL) is one of the most profitable companies with 30 per cent Ebitda margin. It has a production
capacity of around 3,00,000 mtpa across four manufacturing plants in India and supplies to key
markets in Europe, US, Australia, New Zealand and Africa. Buy at every decline.
PC Jeweller (Rs. 383.00) (Code : 534809) (F. V. : 10.00) :- PC Jeweller share
price rallied last week after Motilal Oswal initiated coverage with buy rating on PC Jeweller, citing
strong earnings growth hope on value migration to organised players.The research house sees 36
percent potential upside in the stock at a target price of Rs 490 per share even at current level. PC
Jeweller is India's second-largest Jewelry Retailer with a strong presence in the North and wed-
ding jewellery. The company is expanding aggressively to leverage the ongoing value migration.The
government's initiatives, aimed at protecting customers and clamping down on black money, have
added momentum to this shift. Actions such as the levy of 1 percent excise duty on gold jewellery,
requirement of PAN for jewellery purchases of over Rs 2 lakh, demonetisation, and implementa-
tion of 3 percent GST have permanently dented the advantages that unorganised, unbranded and
local players had. Motilal Oswal sees an enormous opportunity unfolding in Indian jewellery as a
result of value migration towards organised players. Among all consumer categories, jewellery
has the largest share of the unorganised segment, both in absolute terms (at Rs 1.4 trillion) and
percentage terms (at 70 percent). Buy.
Aurobindo Pharma (Rs. 714.00) (Code : 524804) (F. V. : 1.00) ;- Aurobindo
Pharma has posted a nearly 29% increase in the consolidated net profit for the quarter ended
Financial Weekly

INVESTMENT
September on the back of a better performance of the formulations business in the US, EU and
growth markets. It registered a net profit of Rs.781 crore or 29% increase over the Rs.606 crore of
the year’s earlier period. Total revenue from operations for the Hyderabad-headquartered com-
pany was Rs.4436 crore, an increase of 17% compared to the Rs.3,775.45 in the corresponding
period of previous fiscal. Revenue growth was driven by 9.9% y-o-y growth in US and 38.6% y-o-
y growth in Europe during the quarter. API business also revived during the quarter and grew at a
modest 5.0% y-o-y. Adjusted EBITDA increased 30.6% q-o-q and 20.3% y-o-y to Rs 11,276 mn
during 2Q FY18. Adjusted EBITDA margin increased 202 bps q-o-q and 58 bps y-o-y to 25.4%. Its
specialised segments such as injectables, penam, microspheres, hormones, oncology,
neutraceutical, depot injections and peptides would improve margins due to complexity in the manu-
facturing. APL has developed a robust pipeline of 463 ANDAs for the US market through differen-
tiated products. It is one of the favourite stocks among all the investor class in pharma sector. Buy.
L&T (Rs. 1216.00) (Code : 500510) (F. V. : 2.00) :- Larsen & Toubro stock gained
last week as the company's construction arm has bagged a Rs. 8,650-crore order from the Mumbai
Metropolitan Region Development Authority (MMRDA). The heavy civil infrastructure business
vertical of L&T Construction bagged an order worth Rs. 8,650 crore from the MMRDA for construc-
tion of the Mumbai Trans Harbour Link. In an another development, L&T is set to become the first
Indian company to build a metro rail project outside the country, with the company likely to com-
plete the Rs 3,400-crore light rail-based urban transit system in Mauritius, to be commissioned by
2019-20. “The Mauritius project will be the first overseas metro project that an Indian company will
be executing independently. Meanwhile, the company has shortlisted Tamil Nadu, Maharashtra
and Gujarat to set up its missile-integrated facility at an investment of around Rs.500 crore, in a
joint venture with French company MBDA, one of the world’s largest exporters of missile systems.So,
there are number of positives for this giant blue chip stock. 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
24th November 2017 unless specified o Stoploos is useful for Short - Medium term investors only
* Disclaimer :- • Smart Investment will not be responsible / for any loss arising out of investment based on its recommendation. • Though,
every care has been taken, we will not responsible for any errors / omissions o All disputes are subject to Ahmedabad jurisdictioner
Financial Weekly

INVESTMENT
Dalal Street Whispers - Dilip K. Shah
Ruchi Soya (Rs. 24.00) (Code: 500368) :- Ruchi Soya is a leading agri and FMCG
company with a turnover exceeding US $ 3 billion. It is the first ranked player in soya food category,
and is also the largest in cooking oil segment. Increase in import duty on edible oil will benefit
Ruchi Soya the most. In view of a rising rupee and other developments, some experts see likeli-
hood of a re-rating of the stock, and expect it to touch Rs. 35.
Coal India (Rs. 271.00) (Code: 533278) :- The ban on pet-coke and furnace oil in
Rajasthan, UP and Haryana has led to big problems for cement units. However, the move will
benefit Coal India, the largest producer of coal in the country.
Tata Global (Rs. 278.00) (Code: 500800) :- Market reports suggest that Tata Global
will also sell tea brands other than Tata. Tea production has been hit due to inadequate rainfall in
tea producing states, and the strike in Dehradun. It is seen benefiting from growing demand and
rising prices.
Future Enter. (Rs. 53.00) (Code: 523574) :- Shares of Future Group are constantly
in the limelight. December will see Future Group company Future Supply Chain Solutions coming
out with a Rs. 750 crore IPO. This will have a positive impact on the stock. Moreover, company is
targeting to have 10,000 stores by 2020.
Shree Leather (Rs. 174.00) (Code: 535601) :- Leather shares fell sharply after the
expected Rs. 2,600-crore package for leather industry was not announced. Leather sector shares
are likely to be seen bottoming out.
Talbross Auto (Rs. 241.00) (Code: 505160) :- The company has reported good
numbers. Sales showed good growth, while net profit jumped more than two times. The share can
be seen outperforming going ahead.
Spice Jet (Rs. 144.00) (Code: 500285) :- After touching 17-month highs last month,
crude oil prices are on the way down. This will benefit aviation stocks. Moreover, it is expected to
have high occupancy level in December due to Christmas.
Adlabs (Rs. 69.00) (Code: 539056) :- Market player Radhakrishna Damani has re-
cently acquired a hotel owned by Adlabs on Mumbai-Pune Expressway. Some movement can be
seen in the stock.
A. B. Fashion (Rs. 165.00) (Code: 535755) :- It is likely to benefit from the soon to be
announced textiles package as well as GST relief.
HUDCO (Rs. 84.00) (Code: 540530) :- This PSU is benefiting tremendously from the
government's Housing for All and Affordable Housing schemes. Housing finance growth rate is
expected to grow from 17% at present to 20%.
PNB Gilt (Rs. 48.00) (Code: 532366) :- The finance sector is expected to benefit the
most from the recent upgrade of India's rating and outlook by Moody's. This company is also likely
to benefit tremendously.
Financial Weekly

INVESTMENT
High Risk High Return Shares - Dilip K. Shah
Sanginita Chemical (NSE) (Rs. 58.00)

The Company's shares had got listed on the NSE Emerge platform in March
earlier this year at exactly the issue price of Rs. 22. However, the share has been
steadily rising after that, and touched an all-time high of Rs. 57.50 on November
8. For September 2017 quarter, it reported 40% increase in sales and 160% jump
in net profit. It is noteworthy that business channel CNBC 18 nominated it as the
fastest growing company in the research of ICICI Bank and Care Rating. The
share will deliver attractive return in the short term.
Swaraj Engines (Rs. 1,987.00) (Code: 500407) :- The company's board is meeting
on November 28 to decide on share buyback proposal. The trading volumes in the share have
crossed 16,000 and the price is going up at rocket speed in view of the proposal.
Kajaria Ceramics (Rs. 727.00) (Code: 500233) :- Birla Sun Life Mutual Fund has
acquired a large stake in this furnishing, paints and tiles manufacturer.
Teamlease Services (Rs. 2,002.00) (Code: 539658) :- Global investment man-
agement firm T Rowe Price has bought 86,000 shares, while International Discovery Fund has
bought 7.5 lakh shares of this human resources services provider.
Satin Credit (Rs. 388.00) (Code: 539404) :- There is current in the stock after the
company recently received the license for housing finance.
Syngene International (Rs. 526.00) (Code: 539268) :- Shares of this pharma
sector company are in focus as UTI and other funds have bought its shares.
HSIL (Rs. 529.00) (Code: 500187) :- HSIL has decided to demerge its consumer prod-
uct distribution and marketing business in a bid to unlock value. The stock is likely to rise 20% in
the next two to three months.
Zee Enter. (Rs. 563.00) (Code: 505537) :- The company has reported good numbers
for the first half of the fiscal. Recovery in the business of its regional channels and better growth in
advertising income will boost its margin.
Cyient (Rs. 567.00) (Code: 532175) :- A Mumbai-based leading brokerage is highly
bullish on this IT stock, and sees a breakout soon. The stock will cross Rs. 600 in the short term,
and is recommending a buy with a target price of Rs. 625.
Bata (Rs. 740.00) (Code: 500043) :- There was a strong buzz in the market last week
that the Union Cabinet will soon declare a Rs. 2,600 crores package for leather industry. In ab-
sence of any such announcement, shares of Bata, Mirza International, Khadim, Liberty, and others
fell sharply. However, post-correction the shares can be seen outperforming going ahead.
CESC (Rs. 1,011.00) (Code: 500084) :- This Kolkata-based company has received
SEBI nod to demerge its four businesses. The demerger will allow the company unlock significant
value. Motilal Oswal has given a 'Buy' rating on the stock with a potential upside of 34%.
Financial Weekly

INVESTMENT
Senior Astrologer
Dharmesh Joshi
Mob. : 9909941816
E-mail :
stockmarket@ganeshaspeaks.com
Sensex Predictions : Dt. 27th November to 1st December
27-11-2017 Monday :- " Overall Nifty was 102 points plus during the last week. " The
Moon is in Rahu's constellation today. Hence stay alert because a confusing pattern is indicated. "
9.15 to 12.00 Nifty will remain within a fixed pattern, which is likely to be on the up side. " 12.00 to
13.40 Nifty will form a down pattern. " 13.40 to 14.40 Nifty will go up. " 14.40 to 15.30 Nifty will go
down.
28-11-2017 Tuesday :- " Since Venus is now in conjunction with the Sun, stocks like
Media and Food may remain on the soft side. " Today's pattern may be same as yesterday. But
wait for the opening and then take a decision. " 9.15 to 10.15 Nifty will make a flat pattern, which
may be parallel to the surface. " 10.15 to 11.55 the overall view at Nifty is positive. " 11.55 to 13.20
selling pressure in Nifty is foreseen. " 13.20 till the closing bell, divide the slot in two parts. Wherein,
Nifty will go up in the first part and down in the second part. Around 14.40 expect a turning point.
29-11-2017 Wednesday :- " The Moon and Mars are aspecting each other. Hence you
will get a good profit by dealing quickly in the market today. " 9.15 to 9.55 expect lots of volatility in
Nifty. Hence just do jobbing and avoiding taking any major position. " 9.55 to 11.40 Nifty will be
strong. 11.40 to 13.40 profit booking in Nifty-50 stocks will influence Nifty. " 13.40 to 14.35 the
positive impact of European markets will be evident. " Don't be surprised, if FII's do some selling
during the last few hours!
30-11-2017 Thursday :- " The Mars-Jupiter conjunction will now boost the education
sector in the coming days. " The Moon is weak today. Hence do delivery based work. " Avoid small
cap stocks. " The planets indicate that you may face several obstacles in the market and in your
personal life today. " 9.15 to 11.25 Avoid trading as the market trend will be very boring. " 11.25 to
12.55 Nifty will go down step-by-step. " 12.55 to 14.14 Nifty will go up step by step. " After 14.14
expect slight pressure in the market.
01-12-2017 Friday :- " Jupiter is aspecting the Moon today. Hence, we will once again
see movement in the market. " Liquidity in the market will also increase today. Thus, do intraday to
get a good profit. " 9.15 to 9.30 Nifty will be flat to slightly negative. " 9.30 to 11.50 Nifty will go up.
" 11.50 to 13.25 Nifty will go down. " 13.25 to 14.34 Nifty will move upwards. " The period hereafter
will be the most volatile and risky slot of today. " Avoid trading, if you cannot understand the trend.
" 14.34 to 15.30 expect solid movement on both the sides, and accordingly reshuffle your position.
Financial Weekly

INVESTMENT
News Track
Desai Metalinks Ltd certified as the first & only

producer of Ferro Manganese Briquettes in Asia
Desai Metalinks Ltd, a leading company of Ahmedabad based Desai Group of Compa-
nies, has been certified as the only producer of Ferro Manganese Briquettes in entire Asia.
This certification has been done by the renowned certifying agency ‘Kaizen Market Research
& Consultant’.
Elaborating the details, Mr. Pranit Hem Desai, promoter of the company, said “After in-
depth research of around 3 years, we have developed our own technology to produce this
unique product. This product is used in refining of steel as an alloying agent. It is a replace-
ment of ferro manganese lumps which is a very cost effective solution for the primary stain-
less steel producers. It comes with a direct commercial advantage to the users. Currently we
are producing very high quality ferro manganese briquettes for the steel industry with an
annual installed capacity of 36,000 tonnes. ”
The product is now being widely used by the steel industry. The Company plans to enter
the capital market shortly with SME IPO.
Financial Weekly

INVESTMENT
News Track
Envirotech Asia 2017 a contribution

to Swachh Bharat Abhiyaan Mission
Envirotech Asia 2017 International Exhibition and Conference on Environmental Technology

was inaugurated by Mr. Ramdas G. Kadam - Hon'able Minister of Environment- Maharashtra on
Wednesday, 22nd November 2017 at Bombay Exhibition Centre NESCO Complex, Western Ex-
press Highway, Goregaon East, Mumbai.
Maharashtra Pollution Control Board- MPCB has joined hands with Radeecal Communications
for this initiative. MPCB also conducted one day conference On Waste Management Sector.
Indian Nuclear Society- INS has extended their support to Envirotech Asia 2017 as supporting
Society and is organizing a full day conference session on Thursday 23rd November 2017; the
topic will be "Recent Trends in Clean Technologies & Pollution Control for Sustainable Environ-
ment".
The Chief Guest for the event wereMr. RamdasKadam - Hon'able Minister of Environment-
Maharashtra.
Financial Weekly

INVESTMENT
News Track
Mahindra and Uber ties up for E-Taxi

Mahindra and Uber announced their tie up for e-vehicle taxi withan aim to build the next gen-
eration sustainable solutions in the shared mobility space. While the soft launch for the same is
expected before this fiscal end, trials and test drives are on to modify the requirement of Uber. In
Phase-I Uber will launch e-taxi in New Delhi and Hyderabad and will expand it to other states
going forward. This JV will bring more sale for Mahindra e-vehicles, financing, insurance, mainte-
nance and other services. Thus both these partners are aligning with the Government’s vision of
no pollution and reduced oil imports. Mahindras will also support education of drivers for e-ve-
hicles.
Talwarkars joins hands with Dr. Mickey Mehta

Talwarkars Best Value has joined hands with Mickey Mehta’s 360 degree wellness temple to
revolutionize the usual gym workout by transforming the mindsets from conventional fitness mo-
dalities to adopting ancient wellness wisdom and philosophies. This alliance represents the com-
ing together of a fitness and wellness brand who share the same ideologies, values and vision to
bring a holistic offering to consumers in the health and wellness category. Besides using Talwarkar’s
existing outlets, this alliance will also open around 100 new stand alone centers of wellness.
RS Software
Threat Metrix to transform digital payment authentications
Digital payment infrastructure leader R S Software partnered with ThreatMetrix, the digital iden-
tity company, to offer a powerhouse of solutions that span online payment and digital identity. This
alliance is set to provide frictionless and secure experience, while accelerating revenue for mer-
chants. Their main focus is on Indian market that is set for a fast-forward mode and has ample
opportunities in growing e-payment transactions. With its mobile-first and API-driven approach,
the combined solution can be plugged in seamlessly to enable secure payments, less chargeback
and more confidence among consumers and merchants.
Financial Weekly

INVESTMENT
REVIEW OF “SMART PLUS NEWS LETTER”

Amazing 32% RETURN SMART GAIN
FOR SMART INVESTORS
Company Reccom. Weekly Ch. Company Reccom. Weekly Ch.
20-11-17 High (%) 20-11-17 High (%)
Multibase 521 553 6.14 MOIL 248 259 4.44
SRF 1773 1888 6.49 HPCL 414 430 3.86
BASF India 1948 2075 6.52 Nectar Life 29 33 13.79
Tata Chemical 716 749 4.61 Glenmark Ph. 585 600 2.56
Sterlite Techno 262 273 4.2 NMDC 123 128 4.07
Ajanta Pharma 1274 1365 7.14 Techno Ele. 379 405 6.86
DLF 223 229 2.69 Minda Corp. 184 210 14.13
Coal India 272 281 3.31 Akar Auto 125 165 32
Balaji Amines 614 668 8.79 Capri Global 126 130 3.17
Bharat Forge 696 718 3.16 Ceejay Fin. 156 180 15.38
Just Dial 441 568 28.8 Sadbhav Energy 319 370 15.99
Repco Home Fin. 621 634 2.09 Flex Foods 126 132 4.76
Wockhardt 720 752 4.44 Prakash Ind. 142 152 7.04
IFB Ind. 1223 1330 8.75 J K Paper 114 124 8.77
TVS Ele. 441 451 2.27 KE Ind. 292 342 17.12
Ujjivan Fin. 390 413 5.9 Autoline Ind. 84 99 17.86
KEC Intl. 292 314 7.53 Texmaco 63 74 17.46
Nucleus Soft 430 457 6.28 Smartlink Net. 109 114 4.59
Kalpataru Power 403 449 11.41 Chandni Tex. 49 57 16.33
Eveready 397 425 7.05 Spice Jet 140 145 3.57
Dilip Buildcon 850 972 14.35 SCI 89 99 11.24
Super Crop. Safe 165 180 9.09 Ashapura Mine 89 103 15.73
Goodrick 340 444 30.59 IOL Chem. 67 80 19.4
Thirumali Chem. 1995 2090 4.76 Orient Abriasive 54 67 24.07
Gail India 444 471 6.08 Adlabs 67 73 8.96
Tata Motors 421 432 2.61 IDFC 61 62 1.64
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Financial Weekly

INVESTMENT
Editor : Dilip K. Shah
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completeness are not guaranteed. Smart Investment or the analyst / writer do not accept any
liability for the use of this column for the buying or selling of securities. Readers of this column who
buy or sell securities based on the information in this column are soley responsible for their ac-
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featured herein
Financial Weekly

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

FII Activity (Rs. Cr.)

Most Popular Webstie for the Stock Market Investors

SMART 26th November to 2nd December 2017 4

IOL CHEMICALS & PHARMACEUTICALS LTD

SMART 26th November to 2nd December 2017 5

SMART 26th November to 2nd December 2017 6

DAMODAR INDUSTRIES LTD

SMART 26th November to 2nd December 2017 7

Top 10 Dark Horse

Rate Rate (%)

10th April 2017 B L KASHYAP 24 71.9 200%

13th February 2017 T N PETRO 31 79.85 158%

14th August 2017 AGRITECH INDIA 60.75 149 145%

26th June 2017 PURVANKARA 65.45 152.4 133%

17th April 2017 WEIZMANN FOREX 524.75 1212 131%

28th August 2017 RISHIROOP LTD 68.85 138 100%

23rd January 2017 EON ELECTRICT 69 137.5 99%

20th February 2017 MUNJAL AUTO 48.5 94.1 94%

13th March 2017 CORDS CABLE 81 154 90%

17th July 2017 SREE RAYALSEEMA 139 264.25 90%

On 4th September at Rs.54 we had recommended MOLD-TEK TECH-

SMART 26th November to 2nd December 2017 8

Rapid Fire Stocks

Asian Granito (Rs. 493.00) (Multiage)

Gujarat Ambuja Exports Ltd (Rs. 176.15)

SMART 26th November to 2nd December 2017 9

SMART 26th November to 2nd December 2017 10

ICE Make Refrigeration Limited

ICE Make Refrigeration Limited is a re- Key strengths

Objects of the Issue Bharat Refrigerations Private Limited.

SMART 26th November to 2nd December 2017 11

600 PAT & PAT MARGIN (In %) 5.8%

200 2.1% 2.3% 1.9%

SMART 26th November to 2nd December 2017 12

Ice Make Refrigerations’ Key achievements and Milestones

SMART 26th November to 2nd December 2017 13

SMART 26th November to 2nd December 2017 14

IL&FS INVESTMENT MANAGERS LTD

SMART 26th November to 2nd December 2017 15

MARKET ON COURSE TO MAKE NEW HIGHS

This Weeks Recommendations

SMART 26th November to 2nd December 2017 16

SMART 26th November to 2nd December 2017 17

GAINS are for smart pickers &

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Buy or Sell, Confused ?

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

SMART 26th November to 2nd December 2017 20

Last Recommendation Review

SMART 26th November to 2nd December 2017 21

Stock Buzz Subramanian Mahadevan

Dhanlaxmi Bank Limited (Rs. 32.00)

English & Gujarati Edition Gujarati Edition