Smart Investment (E-Copy) Vol 17 Issue No. 27 (11th August 2024)

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11th August
:: Shree Ganeshay Namh :: 2024 to 17th August 2024 2
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Only Financial Weekly Published in English & Gujarati
102
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GAMC No. :1703/2021-23. Issued by SSP Ahd. Valid up to 31-12-2023

VOL : 17 • Issue No: 27 RNI No : GUJENG / 2008 / 24320 11th Aug. 2024 to 17th Aug 2024
FII ACTIVITY (Rs. in Cr.)

DATE BUY VALUE SELL VALUE NET VALUE
05-08-24 12724.19 22797.94 -10073.75
06-08-24 14389.37 17920.61 -3531.24
07-08-24 14094.77 17409.53 -3314.76
08-08-24 15490.67 18117.4 -2626.73
09-08-24 12454.93 12048.21 406.72
TOTAL 69153.93 88293.69 -19139.76
DII ACTIVITY (Rs. in Cr.)
DATE BUY VALUE SELL VALUE NET VALUE
05-08-24 23766.9 14611.35 9155.55
06-08-24 14422.78 11065.33 3357.45
07-08-24 16070.87 12269.66 3801.21
08-08-24 11738.64 1116.34 577.3
09-08-24 15190.99 11211.4 3979.59
TOTAL 81190.18 20871.1 50274.08
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Financial Weekly TM
11th August 2024 to 17th August 2024 4

BUY
INFIBEAM (CMP : Rs 33.00)
Rakesh Bansal
The financial technology (fintech) industry in India is growing rapidly, due to more people using
digital services, government support, and a growing middle class. India, with its fast-growing
economy, provides many opportunities for fintech companies to create new services and grow.
Infibeam Avenue is a major company in this exciting field.
Infibeam Avenues, established in 2017, offers a variety of services including software develop-
ment, maintenance, web development, payment gateway services, and e-commerce solutions.
Here's a summary of the company's focus and investments:
* Main Goal: The Company's primary focus is to become a major player in the field of AI-based
fraud detection and prevention.
* Significant Investment: It has invested over 100 crore rupees to create a new AI Hub, which is
an addition to its existing hub in GIFT city. This investment demonstrates the company's commit-
ment to using artificial intelligence to enhance security and prevent fraud.
Here's a summary of Infibeam Avenue's recent performance and the reasons behind it:
* Company Overview: Started in 2007, Infibeam Avenue provides complete e-commerce solu-
tions like payment processing, online store setups, and marketplace integration. It uses advanced
technology to offer adaptable and safe solutions to businesses of all sizes.
* Strong Past Performance: Investors have favored Infibeam Avenue, with its share price in-
creasing by 124.8% in the last year.
* Recent Challenges: The company faced some difficulties in the past six months, with its share
price decreasing by 10.9%.
* Recent Recovery: Despite challenges, Infibeam Avenue has bounced back, with its share
price increasing by 8.7% in the last month and 4.4% in the last five days.
* Reasons for the Uptick: This recent increase in share price can be attributed to various factors,
which will be explored in detail.
1 New Acquisition
Infibeam Avenues, a financial technology company based in Gujarat, has agreed to buy a 54%
share in Rediff, one of India's earliest internet companies.
Here's a summary of the deal and its impact:
* Investment: Infibeam is investing about 50 crore rupees in Rediff, split equally between buying
shares and providing loans.
* Ownership: This investment will give Infibeam a 54% ownership stake in Rediff.
Cont..
Financial Weekly TM

* Timeline: The company expects to complete the deal within 90 days.
* Unified Ecosystem: Infibeam plans to combine payments, online shopping, cloud services,
and content consumption into one platform through this acquisition.
* Financial Services: Infibeam also wants to use Rediff's financial platform, RediffMoney, to offer
more services like credit, insurance, and investment products.
* Large Audience: Rediff currently has about 3.8 crore online visitors every month.
* Positive Impact: This acquisition has made investors more confident in Infibeam, causing its
share price to increase. The investment in Rediff is seen as a smart move that will help Infibeam
offer more services and reach more people.
2. Strong Quarterly Results
Infibeam Avenue recently announced impressive results for the quarter, showing strong growth
and performance in different areas.
Here's a breakdown of the company's quarterly results:
* Profit Increase: The company made a profit of 360 crore rupees, a 31% increase compared to
the same period last year.
* Consistent Revenue: The total revenue was 680 crore rupees, about the same as last year.
* Payments Business Growth: Most of the revenue came from the payments business, earning
640 crore rupees. The remaining revenue was from e-commerce operations.
* Higher Net Revenue: After payment processing charges, the net revenue from payments was
120 crore rupees, a 20% increase compared to the previous year. This shows the company's abil-
ity to manage costs effectively.
* Increased Transactions: The total value of payments processed by the company rose signifi-
cantly to 19,680 crore rupees, up from 11,830 crore rupees last year, indicating a much larger
volume of transactions.
* Higher Profit Per Transaction: The company's take rate, the share it earns from each transac-
tion, increased to 11.2 basis points, compared to about 8.4 basis points last year. This improve-
ment shows the company's increased efficiency and profitability.
* Growing Merchant Base: The number of merchants using the company's solutions has grown
to over 1 crore, and it's adding over 2,500 new merchants every day. This rapid growth shows the
increasing adoption and trust in the company's services.
3 Change in Leadership
Infibeam Avenue recently appointed Narayanan Sadanandan as an independent director to
their board. This decision has been well- received by the market.
Here's a summary of the change in leadership and its potential impact:
* New Director: Narayanan Sadanandan, an experienced professional in finance and banking,
has joined Infibeam Avenue's board as an independent director.
* Valuable Expertise: Sadanandan brings extensive knowledge and experience, which is ex-
pected to help the company make better strategic decisions and improve financial management.
* Stronger Governance: His addition to the board strengthens the company's governance and
Cont..
Financial Weekly TM

decision-making processes.
* Positive Market Sentiment: The market has responded positively to this announcement, antici-
pating that Sadanandan's insights will benefit the company's future performance.
What Next?
Infibeam Avenue is actively working on several strategies to grow its business and stay ahead
in the industry.
Here's a summary of the company's future plans and current initiatives:
* Expanding Services with Rediff.com: The company plans to combine its services with the
recently acquired Rediff.com to offer a wider range of digital payment solutions, platform services,
and AI-powered tools.
* Focus on Digital Media: Infibeam Avenue will continue to develop new technologies for digital
media, including platforms for live events and streaming.
* AI for Fraud Detection: The company is investing in AI- powered fraud detection systems to
improve security and build trust among its users.
* Staying Ahead in Fintech: By focusing on innovation and technology, the company aims to
maintain its leading position in the fintech industry.
Disclaimer
"Investment in securities market is subject to market risks. Read all the related documents care-
fully before investing.".
We don't guarantee any kind of profit.
Stock market involves risk and trade only if are comfortable with risk. Please don't trade/invest
looking at our performance sheet as Past performance is not the guarantee for future performance.
Our performance sheet is for our own satisfaction & transparency. You may or may not be able
to buy/sell at my recommended price as recommendations are shared in live/running market and
we cannot freeze stock price to help you buying/selling at my recommended price. My humble
request please trade/invest as per your individual risk appetite.
Buy... Buy... Buy on Dips Hold Sell on High

Sadbhav Engg 31.00 ABB India 7970.00 Bharat Dyna 1433.00
Aster DM 407.00 Torrent Power 1790.00
Spencer Retail 91.00 Gujarat Gas 610.00
Mindacorp 510.00 TVS Motors 2581.00
Harrisons 246.00 Integra Engg. 260.00 RVNL 518.00
OFSL 10573.00 BDL 1433.00
Pulsar 13.00 GHCL 615.00
Eveready 441.00 Alkem Lab 5793.00 Motherson Sumi 187.00
Reliance Inrfra 230.00 Oil India 643.00
Mcleod Russel 27.00 Rushil Décor 43.00 JKCement 4228.00
Classic Ele 15.00 Tata Motors 1067.00 Balkrishna Ind 3055.00
Sharda Motor 2473.00 Mankind Pharma 2134.00
Windsor 172.00 Bajaj Fin 6619.00
Century Enka 776.00 CDSL 2566.00
JKTyre 411.00 KPR Mills 895.00 Concor 980.00
Ganesh Benzo 170.00 Thermax 4356.00 Sail 129.00
Kfin Techno 1084.00 M&M 2748.00
Simplex Infra 145.00 Rane Engine 415.00 AB Fashion 324.00
BCL Ind 60.00 Lupin 2113.00 Shree Cement 24282.00
20Microns 326.00 Zydus Life 1301.00
Nitco 77.00 Pricol 518.00 BirlaSoft 577.00
Financial Weekly TM

Positron Energy Limited
Comes out with Rs.51.21 crore SME IPO
Positron Energy Limited is coming out with an SME IPO. It will issue 2,048,400 equity shares
of Rs. 10 each. It will raise Rs 51.21 crore at the upper cap. Issue price band is Rs 238 to Rs
250 per share. The issue opens on August 12, 2024, and will close on August 14, 2024
Corporate Feature
Objects of the Issue
- To Meet Working Capital Requirements
- General Corporate Purposes
Positron‘s ‘Gas on Positron Energy IPO Details

Wheel' solution IPO Date : August 12, 2024 to August 14, 2024
Face Value : Rs 10 per share
innovatively Price Band : Rs 238 to Rs 250 per share
monetizes Lot Size : 600 Shares
stranded gas from Total Issue Size : 2,048,400 shares
(aggregating up to Rs 51.21 Cr)
isolated fields,
Fresh Issue : 2,048,400 shares
addressing pipe- (aggregating up to Rs 51.21 Cr)
line connectivity Issue Type : Book Built Issue IPO
challenges Listing At : NSE Emerge
Share holding pre issue : 5,552,000
Positron Energy Limited provides management and Share holding post issue: 7,600,400
technical advisory for the oil and gas industry in India. It Market Maker portion : 102,600 shares
offers end-to-end gas distribution solutions, including man- Spread X Securities
agement consultancy, project management, and opera- Lead Manager : Beeline Capital Advisors Pvt Ltd
tion and management services. The company has devel- Registrar : Link Intime India Private Ltd
oped a gas aggregation business focusing on natural gas
and utilizes common carrier pipeline networks in the In-
dian market. Key Strengths
The company is certified according to ISO 9001:2015
and ISO 45001:2018 standards. This certification ensures
the quality of consultancy and O&M services provided to
the oil and gas sector. The company serves major oil and
gas sector players, including both public sector compa-
nies and private firms. The services of the company in-
clude the following: (1)

Project Management Con- Strong Market Position :- Established as a key player in Oil and
sultation (PMC) (2) Opera- Gas. Specializes in Coal Bed Methane (CBM) and Natural Gas aggrega-
tions and Maintenance of tion.
CGD (City Gas Distribu- Experienced Leadership :- Founded by veterans with over 45
tion) Network (3) Opera- years of industry experience. Leadership drives growth and builds a strong
tions and Maintenance of value system.
CNG and Small-scale Comprehensive Service Portfolio :- Offers end-to-end solu-
LNG (4) Execution tions for gas distribution. Diverse services cater to various Oil and Gas
Projects for CGD Infra- segments.
structure etc. The com- Innovative Solutions :- Collaborates with ICOM North America
pany has a total workforce for dual-fuel LNG systems. 'Gas on Wheel' and LNG distribution services
of 140 employees at vari- for remote areas
ous project sites across In- Strategic Market Access :- Indian Gas Exchange (IGX) Through
dia. Its Clearing Member. Efficient supply management with 4000-5000 (As at
March 31, 2024) MMBTU daily volume.
Cont...
Financial Weekly TM

26 Ongoing Projects with Contract Management of
Value without GST of Rs 2724.98
Lakhs, Revenue booked till March
Positron Energy Limited
Dr. Safalta S Gupta
31, 2024 of 1108.58 Lakhs, Balance Chairman & Independent Director
Order Amount of Rs 1851.93 Lakhs She holds an MBBS (2003) and a Diploma in Gyne-
cology and Obstetrics (2005) from the University of
Gujarat. With 7 years of experience in Gynaecology, she
enhances the board's independence and operational in-
tegrity.
Mr. Rajiv Shankarankutty Menon
Managing Director
54+ 20+ 124+ 3 He holds a B.Com from Sardar Patel Univer-
sity, Gujarat, and has over 15 years of experience
Happy Completed Team in the Oil & Gas industry. He is a key driver of the
Clients Branches
Projects company's growth and business strategy.
Mr. Manav Bahri

Whole Time Director & CEO
He holds a B.Tech in Civil Engineering from NIT
Hamirpur (1998) and a PGDM from Symbiosis Insti-
tute of Management Studies (2000). With over 15 years
of experience in the Oil & Gas industry, he oversees
the company's overall operations.
Mr. Sujit K Sugathan
Whole Time Director & CFO
He holds a B.E. in Electrical Engineering from L.D.
College of Engineering, Gujarat University, and an
MBA in Oil & Gas Management from the University of
Petroleum and Energy Studies, Dehradun. With over
15 years in the Oil & Gas industry, he adeptly man-
ages the company's financial activities.
Positron Energy Limited is coming out with an SME IPO. It will

issue 2,048,400 equity shares of Rs. 10 each. It will raise Rs
51.21 crore at the upper cap. Issue price band is Rs 238 to Rs
250 per share per share. The issue opens on August 12, 2024,
and will close on August 14, 2024. The minimum application to be
made is for 600 shares and in multiples thereon, thereafter. Post
allotment, shares will be listed on NSE Emerge. Beeline Capital
Advisors Pvt. Ltd. is the Sole Lead Manager of the issue and Link
Intime India Pvt. Ltd. is the registrar to the issue. SpreadX Secu-
rities Ltd. is the market maker for the company.
The company focuses on the strategic sourcing and mar-
keting of Natural Gas and R-LNG, emphasizing their environ-
mental benefits, including lower greenhouse gas emissions. It
offers competitive and customizable pricing, serving as a com-
prehensive solution provider for the City Gas Distribution (CGD)
and Oil & Gas sectors. Its ‘Gas on Wheel' solution innovatively Financial Information
monetizes stranded gas from isolated fields, addressing pipe- Particulars (Rs. in Lakh) FY2022 FY2023 FY2024
line connectivity challenges. It provides support to its clients for Total Income 896.85 5202.61 13541.76
Natural Gas Buying and Selling, through its market intelligence
EBITDA 88.97 299.74 1204.27
on gas aggregation business. The company has partnered with
ICOM North America LLC to introduce Dual Fuel LNG Conver- Net Profit 57.98 212.80 878.78
sion Systems for trucks over 3.5 tons in India. This innovative ROE (%) 16.97 46.19 85.48
system reduces emissions, offers flexible fuel ratios, and en- ROCE (%) 11.33 26.37 61.55
sures seamless integration without engine modifications. EPS (Rs) 1.04 3.83 15.83
***
Positron Energy Limited provides management and technical advisory for the oil and gas
industry in India. It offers end-to-end gas distribution solutions, including management
consultancy, project management, and operation and management services
Financial Weekly TM

Jatin Sanghavi
Market Scan - Mumbai
Consolidation with a Bearish Bias

Negative Divergence Played its Part
Global worries continue to haunt our market and as a result our markets are unable to sustain higher
levels and every increase in Nifty is facing severe selling pressure. Nifty has seen a stupendous rise over
past few weeks and some correction is always welcome for the market to stay healthy. Negative Diver-
gence was noted at the top last week when Nifty was at life-high of 25078, before going down. Nifty opened
this week with big bearish gap breaking the 20dma and taking support at the 50dma. Currently Nifty is
oscillating in a trading range between the lower boundary of 23900 and higher boundary of 24700. A break
on either side will result in a strong rally in the direction of the breakout. Short term trend remains down and
hence the current consolidation continues with a bearish bias.
WEEKLY HAMMER FORMATION :- After a bearish gap down opening on Monday, Nifty formed two
real black body candles on Monday and Tuesday. Friday saw a Doji formation which suggests a sideways
movement. On the Weekly timeframe, Nifty has formed a Bullish Hammer pattern which is suggestive of
bullish reversal. Thus more than daily, weekly candlestick pattern suggests a bullish bias in the near term.
2 BEARISH GAPS AS R-ZONES :- Nifty has gone down from a high of 25078 to a low of 23893 in last
couple of weeks and in the process
left behind two bearish gaps. Currently
Nifty has closed inside a bearish gap
at 24350-24686 which is a very strong
R-Zone I, as it is on daily as well as
weekly timeframe. Second gap at
24851-24951 was formed last week
when Nifty fell from the top. This will
act as R-Zone II. A break above this
R-Zone II will result in Nifty making
new life-highs.
239 00-24 700 : TRAD ING
RANGE :- Nifty is currently in a trad-
ing range at 23900-24700. Within
This Week Recommendations this, there exists a smaller trading
range between the 50dma (23967)
Stocks CMP SL Tgt-1 Tgt-2 and the 20dma (24543). A bullish
Buy MCX 4377 4288 4513 4651 breakout can take the Nifty beyond
Buy COROMANDEL1693 1660 1743 1797 25000 and new life-highs and a bear-
Buy SUNTV 916 897 945 975 ish break below can lead the Nifty
down towards Bullish Rising Gap at
Buy SKIPPER 424 414 441 461 23562-23558 and then 23200 levels.
Buy IMAGICA 94 91 99 105
:::: INDEX LEVELS ::::

S3 S2 S1 CLOSE R1 R2 R3
NIFTY 23664 23893 24141 24367 24543 24717 24956
SENSEX 77808 78467 79043 79705 80392 80981 81700
Financial Weekly TM

FX Hub KUNAL SODHANI
*Slow steady depreciation

in Rupee may continue to be seen*
Global indexes registered impressive gains as fears over a continuation of the unwinding of the
Japanese Yen (JPY) eased. Meanwhile, de-escalation of geopolitical tensions further helped the
risk mood improve. But as per charts, Brent crude pirces are finding decent support at $75/bbl.
Crude oil prices trade with a positive bias for the third straight day amid easing demand concerns
and fears of a widening Middle East conflict.
The US Dollar faces challenges amid increasing expectations that the US Federal Reserve
may implement an aggressive rate cut in September. Traders evaluate mixed signals from the US
economy, trying to determine whether it will experience a soft landing or slip into a recession.
So, investors are divided about whether the Fed will exhibit aggressiveness in the process of
pivoting to policy normalization by announcing a 50 bps interest-rate reduction or will cut them by
25 bps.
China’s data remained very disappointing after imports surpassed exports, making the Chinese
main exporter suddenly an importer for the month of July. More concerns are now at hand, with
Consumer Prices rising 0.5% against July last year. The People’s Bank of China (PBoC) might be
forced to raise rates in order to tame inflation, while it wants to keep rates low or even lower in order
to boost exports. Like the Japanese yen, the Chinese yuan has been used to make carry trades -
borrowing in currencies of countries with low yields and investing in those with higher ones - due to
China's low interest rates and low volatility. Such trades had created downward pressure on the
yuan as well. But being a controlled currency, there may not be any kind of massive impact on
global markets, also their problems are very different from Japan.
The downside of the USD could be limited due to rising safe-haven flows amid heightened
geopolitical tensions in the Middle East. DXY may find decent support at 102.10 levels while 104.50
acts as immediate resistance. FPI outflows from equity have been seen in the month of August. For
USDINR pair, the first upside target emerges at the 84.00 psychological barrier. Extended gains
could pave the way to the all-time traded NDF high of 84.16. A bullish breakout above this level
could see a rally to 84.50. On the other side, the uptrend line around 83.80 acts as a key contention
level for the pair. A breach of the mentioned level could drag the pair lower towards 83.60.
Financial Weekly TM

BUY.... BUY....BUY TIPS OF THE WEEK
Co. Name Code Price Co. Name Code Price
GMR Air 532754 99.00 Uno Mind 532539 1005.00
PC jeweller 534809 91.00 PB fin 543390 1452.00
Lemon Tree 541233 119.00 Coromandel Intl 506395 1696.00
Granules India 532482 659.00 kaynes Techno 543664 4276.00
Network18 532798 99.00 United Spirits 532432 1450.00
NBCC 534309 184.00 Trent 500251 6276.00
Edelweiss 532922 81.00 Affle India 542752 1596.00
GPT Infra 533761 179.00 Amara raja 500008 1503.00
ITD Cementation 509496 559.00 Bombay Burmah 501425 2355.00
Triveni Turbine 533655 695.00 Eicher 505200 4829.00
Suntech Realty 512179 579.00 Muthoot Fin 533398 1877.00
Chambal Ferti 500085 522.00 Pidilite 500331 3132.00
Gabriel 505714 503.00 Britannia 500825 5742.00
Time Techno 532856 328.00 MCX 534091 4379.00
HBL Power 517271 610.00 Siemens 500550 6882.00
Aarti Ind 524208 746.00 Godfrey Phillips 500163 4429.00
Berger Paints 509480 530.00 PI Ind 523642 4488.00
Banco Prod 500039 694.00 Atul Ltd 500027 7982.00
Sun Tv 532733 914.00 Cera Sani 532443 10402.00
Ceat 500878 2782.00 MRF 500290 136903.00
Smart Investment Website Index
57,777 hits only 1 Week
Total number of Hits
2,27,77,777
Kuber Bhandar of earnings
Future - Options, Stock - Watch, Funda - Picks,
Technical Shares, Speculative Scrips, Primary Market,
Financial Weekly TM
MODI 3.0 STRONG PORTFOLIO PICKS

Corporate Feature
Visaka Industries : Visaka Industries is engaged into the
business of manufacture, trading and construction activity of cement fibre sheets,
fibre cement boards & panels, solar panels, synthetic yarn and trading of green
products, eco-friendly products, sustainable products, organic products. Visaka
Industries is one of the best companies in Asbestos segment. The fundamentals
of the company are extremely strong. Visaka Industries has done huge diversi-
fication in its products in past 5 to 7 years. The company has multiple product
portfolios ranging from corrugated cement sheets, fiber cement boards, hybrid
solar roofs and manmade yarn. Visaka has launched a path-breaking hybrid
roof-top solar product called ATUM the first of its kind in India. Hybrid solar roofs
are like solar panels and their efficiency is 20% extra than the conventional solar
panels. The company is enabling consultants, builders, architects and applica-
tors in the market to emphasize on sustainable architecture as they help build the
future. Visaka Industries has 12 manufacturing units, 13 marketing offices and a
PAN India distribution channel of over 7000 dealer outlets. Government has
increasingly been focusing in the housing segment. It will benefit the company.
Protean eGov : Protean eGov Technologies is engaged in
conceptualising, developing, and executing nationally critical and population-scale greenfield technology solutions. It collaborates with the
government and has extensive experience in creating digital public infrastructure and developing innovative citizen-centric e-governance
solutions. The company was originally set up as a depository in 1995 and created a systemically important national infrastructure for capital
market development in India. It has been the chief architect and implementer for some of the most critical and large-scale technology infrastruc-
ture projects in India. The stock recently made 52-week high of Rs.1587.95 on 25th July, 2024. Still, there is huge growth opportunity for the
company and the stock is poised for more upmove.
Taj GVK Hotel : TAJ GVK Hotels & Resorts Limited was incorporated on 2nd February, 1995 in Andhra Pradesh, India. The
Company is a joint venture between the Indian Hotels Co Ltd, a Tata group company and the Hyderabad-based GVK Group. The company is
engaged in the hospitality and tourism industry. It currently has operations in Hyderabad, Chandigarh and Chennai.". During the year 1999-2000,
the company made a tie-up with a leading Hotels Chain "Taj Group of Hotels" as a Strategic Investor-cum-operating Alliance with a view to enhance
the services and improve the overall operations. Also, the Indian Hotels Company Ltd had invested an amount of Rs 40 crores in the company. In
2022-23, the Company took up the phased refurbishments works of Guest Rooms and completed the renovation / refurbishment and renovated
around 26 Guest Rooms and 2 Suite Rooms works in the 6 floor in Taj Krishna. Similarly, it took up the renovation of 10 Corridor facing Guest rooms
each in 1st and 2nd floor and entire 54 rooms in 3rd floor of Taj Deccan during February, 2023. The Company also taken up the refurbishment of
All Day Dining Restaurant, Specialty Restaurant and BAR.
Moksh Ornament : Moksh has contributed its bit by carving designs of gold jewellery and specialist in various types of gold
bangles, a brand that offers a tantalizing blend of modern and traditional

jewellery. Born into family of jewellers Director, Mr. Amrit J Shah took his
legacy across India conquering new markets and adapting modern tech-
nologies for creating exquisite prices of jewellery. Every product manufac-
tured by the company undergoes strict quality endurance test where quality
parameter is fully met. The jewellery is crafted with perfection, precision and
meticulous attention to detail which makes every piece special. Right from its
inception the Company has been guided by only one principle and that is we
must offer the customer the best because they deserve the best.
Kellton Technology : Kellton Tech Solutions Ltd of-

fers services in digital transformation, ERP and other IT services. It has
operations across US, Europe, India and Asia-Pacific with a team of ~1,800
employees. Agile software development, digital commerce & marketing, digi-
tal integration, outsourced product development, platform modernization,
professional services, technology consulting, testing & automation and oth-
ers. Net profit of Kellton Tech Solutions reported to Rs 23.93 crore in the
quarter ended March 2024 as against net loss of Rs 176.47 crore during the
previous quarter ended March 2023. Sales rose 2.11% to Rs 247.84 crore
in the quarter ended March 2024 as against Rs 242.71 crore during the
previous quarter ended March 2023. For the full year,net profit reported to
Rs 64.01 crore in the year ended March 2024 as against net loss of Rs
Financial Weekly TM

126.81 crore during the previous year ended March 2023. Sales rose 7.15% to Rs
982.89 crore in the year ended March 2024 as against Rs 917.33 crore during the
previous year ended March 2023.
OnMobile : Mobile entertainment and gaming company, OnMobile

is extending its platform beyond telecom operators, to sectors like e-commerce
and fintech. The firm is also expanding to other markets like Southeast Asia, Africa,
Europe, Mexico and Argentina to grow its revenues. Its core strategy revolves
around customising and localising products based on insights from diverse geog-
raphies. It consistently develops new games tailored to specific local market inter-
ests. This strategy ensures that it stays ahead in meeting customer demands with
new and improved offerings. The advent of 5G is poised to revolutionise the
gaming landscape, especially in mobile gaming. Our product, ONMO, is strategi-
cally positioned to thrive in this era. With higher download speed, latency will
reduce which will transform cloud gaming, and provide seamless experience to
users. 5G enables us to cater to individual preferences.
EKC : Everest Kanto Cylinder Ltd is engaged in the manufacturing of
different type of industrial use cylinders. CNG Cylinders, Gas Cylinders, Fire Extinguisher, Hydrogen Cylinders, Medical Application Cylinders,
Breathing air Cylinders, Aluminium Cylinders, Jumbo Cylinders, and Other Export Products. These cylinders are useful in different type of
industries, so these products are diversified which is better for the company. Game changer is the up coming boom of Hydrogen evolution in
India and the world. EKC’s market coverage is not limited to INDIA & the Middle East but all over the globe for which compliance to all international
standards like ISO, EN, IS, BS & D.O.T. will adhere as required. A jumbo cylinder plant is also housed at Kasez which has suitable infrastructure
to produce JUMBO cylinders of 3000 Ltrs capacity. EKC Dubai has the capacity to produce cylinders from 1 to 280 Ltrs water capacity and
working pressure from 150 – 400 Bar (Test Pressure up to 650 Bar).
Goldiam International : Goldiam International Ltd manufactures and exports diamonds and jewellery. The Group's
jewellery products are composed of gold, platinum, coloured stones, and cut and polished diamonds. Functioning as the manufacturer of choice to
many of the leading global branded retailers, departmental stores and wholesalers across American and European markets, the Company is also
renowned for utilizing responsibly sourced diamonds, leveraging cutting edge technologies and efficient manufacturing processes for optimal
costings and short delivery leadtimes. Targeting the mid-to-affordable diamond & bridal jewellery segments, Goldiam has a dedicated sales office
in New York, with design teams in both India and the USA. Goldiam International announced the acquisition of new export orders valued at Rs 50
crores for the production of lab-grown diamond studded gold jewellery. These orders, secured from international clients, signify a significant
milestone for the company. The pertinent details of these orders include their nature as export orders for diamond studded gold jewellery, awarded
by international entities, with a deadline for execution set on or before May 30, 2024.
Bombay Dyeing : Bombay Dyeing, a name synonymous with quality and innovation in the textile industry, continues to make strides
in maintaining its market dominance and adapting to ever-changing industry dynamics.. Bombay Dyeing’s consolidated sales for the quarter ended 31st
March, 2024 stands at Rs. 381 crs. and net profit stands at Rs. 66 crs. For the year ended 31st March, 2024 consolidated revenue stands at Rs. 1,688
crs. and net profit at Rs. 2,949 crs., including profit on sale of WIC land in Phase-I. The Company completed the first phase of its land sale to Goisu Realty
Private Limited (a subsidiary of Sumitomo Realty & Development Company Limited) for Rs. 4,685 crs. and thereby extinguished all its debt obligations
during the FY 2023-24. Phase-II of the sales transaction will be completed in the current financial year. The Company is now debt free and has a
substantial treasury.
Optiemus : Optiemus Infracom Limited (NSE Code – OPTIEMUS, BSE Code – 530135), a public listed company, is a diversified,
award - winning, high performance telecommunications enterprise with over 25 years of multi-domain experience including Distribution &
Marketing of mobile & Telecom Products in the Indian sub-continent. This stock has every potential to become minimum 10x (10 times) from
current price, as the company has huge benefits in its hands, and this is the perfect time for this counter. Optiemus Infra has all the potential to
become the Indian Apple in the coming years. Being Chinese manufacturers shifting to India will have only good options for tie up with the existing
manufacturers, and Optiemus is one of the Largest manufacturers in India. India itself is a big consumer market. In India there are more than 120
Crore active telecom connections out of which 70 Crores are user of Smartphones. And the average life of an smart phone is 2-3 years. Almost
everyone changes his/her phone in 2 years. For Last 3 year CAGR Revenue for this counter stands at % and Net Profit CAGR growth for the
same period is at %.
Parag Milkfood : Parag Milk Foods Ltd, founded in 1992, is one of India's elite private sector dairy company, with a diverse
portfolio in over 15 consumer centric product categories. It provides the best global source of expertise and scientific knowledge in support of
the development and promotion of quality cow’s milk and milk products, to offer consumers nutrition, health and well-being. Mumbai-based Parag
Milk Foods Limited is India's largest producer of cow ghee and the owner of leading ghee and cheese brands — 'Govardhan' and 'Go'. Parag
Milkfood manufactures products of truly international quality under internationally famous brand names such as Gowardhan, Go, Topp Up &
Pride of Cows. Its product portfolio includes ghee,fresh milk, skim milk powder, whole milk powder, paneer, an array of processed and natural
cheese, cheese spreads, butter, dahi, dairy whitener and gulab jamun mix under the brand names of 'Gowardhan' and 'Go' ,all made from 100%
fresh cow milk. Pride of Cows is a brand of fresh farm- to -home milk and Topp Up, a flavoured milk in many a variants.
***
Financial Weekly TM

Future Options Diary
Nilesh Kotak (Ahmedabad)
24600 is an important resistance level for Nifty in the coming week.
Only then will the current boom continue.
Buy MOMENTUM OPTION BUY
Momentum Cash Market Buy IDFC FIRST BANK LTD ( 73 )
Call Option Premium (1.60)
KPIT TECHNOLOGIES (1758) 29.08.2024 Expiry
Buy Range :1730-1735 Buy Range :1.30-1.40
Stoploss : 1670 Stoploss : 0.50
7 To 12 Trading Sessions up To August Expiry
Target One :1780book 50% Target One :2.50book 50%
Target Two :1800 Balance 50 % Target Two :2.80 Balance 50 %
Technical Cash Market Buy Sell
SHAILY ENGINEERING (908) Momentum Index Sell
Buy Range :875-880 NIFTY : 24404
Stoploss : 820 30.08.2024 EXPIRY
7 To 12 Trading Sessions Sellrange : 24475-24500
Target One :940 Book 50% Stoploss : 24800up To August Expiry
Target Two :960 Balance 50 % Target One : 24000 Book 50%
Momentum Index Buy Target Two : 23900 Balance 50 %
NIFTY NEXT 50 (72804) Technical Future Sell
30.08.2024 EXPIRY Dabur India Ltd (627)
Buy Range :72300-72500 29.08.2024 Expiry
Stoploss : 71400 Sellrange : 640-645
7 To 12 Trading Sessions Stoploss : 690
Target One :72975 Book 50% up To August Expiry
Target Two :73200 Balance 50 % Target One :590 Book 50%
Target Two :570 Balance 50 %
Momentum Future
Momentumput Option Buy
LUPIN LTD (2124 )
Sail Ltd (130)
29.08.2024 EXPIRY
Put Option Price Cmp (5.10)
Buy Range : 2090-2100
Premium 29.08.2024 Expiry
Stoploss : 2020
Buy Range :4.25-4.50
7 To 12 Trading Sessions expiry Target One : 7 Book 50%
Target One :2180 Book 50% Target Two :8balance 50 %
Target Two :2200balance 50 %
In all the recommendations made by us, the first target is achieved.

And to a great extent, the second target is achieved. Investors should take note.
Financial Weekly TM

Market Round Up
- Nilesh Kotak (Ahmedabad)
Scripts for Buy:

Scrip Name CMP Buy in the Range SL Target
Edelweiss 81 77 to 78 72 90 to 95
NBCC 184 178 to 180 168 192 to 196
AGS 90 86 to 87 80 94 to 100
Book Profit in Cash Segment Script if you have bought
KFin Tech 1100

Avanti Feeds 800
Trent 6400
August Future Buy:
Scrip Name CMP Buy in the Range SL Target

Siemens 6895 6800 to 6810 6650 6950 to 7000
JSW Steel 910 885 to 890 860 970 to 990
Asian Paints 3054 3020 to 3025 2975 3100 to 3140
August Future Sell:
Scrip Name CMP Sell in the Range SL Target

Aurobindo Ph. 1451 1460 to 1480 1530 1400 to 1380
HDFC Life 706 715 to 720 750 670 to 660
ACC 2356 2375 to 2380 2430 2300 to 2275
Financial Weekly TM

Critical lifecare company
Broach lifecare hospital plans for ipo
Broach Lifecare Hospital Limited is coming out with an
SME IPO. It will issue 16,08,000 equity shares of Rs. 10
each. It will raise Rs 4.02 crore at the upper cap. Issue
price is Rs 25 per share per share. The issue opens on
August 13, 2024, and will close on August 16, 2024
Corporate
Feature
Broach Lifecare Hospital IPO Details

IPO Date : August 13, 2024 to August 16, 2024
Price : Rs 25 per share
Lot Size : 6000 Shares
Total Issue Size : 1,608,000 shares
Gujarat - Bharuch based Broach Lifecare Hospital Lim- Fresh Issue : 1,608,000 shares
ited is engaged in healthcare with Specialization in Cardiac (aggregating up to Rs 4.02 Cr)
treatment. It operates 2 hospitals under the brand “Maple Issue Type : Fixed Price Issue IPO
Hospitals”, having 40 beds with ultra modern diagnostic and Listing At : BSE SME
cardiac treatment facilities at Bharuch and Ankleshwar, Share holding pre issue : 4,462,380
Gujarat. Both these hospitals are fully equipped with Life-
Lead Manager : Fedex Securities Pvt Ltd
saving equipments such as Cath Lab, Intra-aortic Ballon Pump
Machine, Biphasic Defibrillator, Ventilators, BIPAP machines, Registrar : Kfin Technologies Limited
Syringe Pump, Volumetric Infusion Pumps and Multipara Moni-
toring Machines.
Objects of the Issue (Broach Lifecare Hospital)
It provides dedicated round-the-clock services to pa- 1. Increase service offerings through addition of equipment – Cath
tients with heart ailments consisting of non-invasive cardiol- lab Machines - As its strategy to increase service offerings and
ogy services such as, 2D Echocardiography, Electrocardio- number of patients treated, Broach proposes to add a Cath Lab.
graphy, Tread Mill Test, Holter monitoring, Ambulatory Blood With this machine, it can provide Cardiac catheterisation and
Pressure Measurement, Stress test, Dobutamine Stress
cardiologist diagnose and treat various heart disorders.
E ch oc ar di og r ap hy . Br oa ch Li fe ca re v e nt ur ed i nt o
interventional cardiac services such as, coronary angiogra- 2. Medical Tourism and CRM software - Plans to design web-based
software for medical treatment and online consultation for basic
Issue Price Looks phy and stenting, per-
cutaneous coronary
disease. This software will also support data collection and cre-
intervention (“PCI”) ate a base for patient history and records for their past treat-
Attractive and primary PCI for ment for future benefits.
Particulars FY 2024 acute myocardial inf- 3. Increasing association and empanelment - Increase its associa-
arction as a division. tion with insurance companies and its empanelment with com-
EBIDTA Rs. 102.61 lacs Broach Lifecare panies in and around Bharuch and Ankleshwar industrial belt.
Hospital Limited is
PAT Rs. 69.76 lacs coming out with an
EPS Rs. 1.92 per share SME IPO. It will issue Gujarat-Bharuch based Broach Lifecare Hospital
1 6, 08 , 00 0 e qu it y
ISSUE PRICE Rs. 25 per share s ha re s o f R s. 1 0 Limited is engaged in healthcare with Specializa-
PE 13.02 times each. It will raise 4.02 tion in Cardiac treatment. It operates 2 hospitals
crore at the upper
Industry PE 46 times cap. Issue price is Rs under the brand “Maple Hospitals”, having 40
BV Rs. 12.26 per share 2 5 pe r s ha r e pe r beds with ultra modern diagnostic and cardiac
share.
Price to BV 2.03 times treatment facilities at Bharuch - Ankleshwar
Cont...
Financial Weekly TM

Procedures
• Cardiac Care - Open heart surgery, Coronary Artery Bypass Graft
(“CABG”) surgery, blocked coronary artery (Not Available).
• Electrocardiogram (ECG) - tests used to evaluate the heart.
• Echocardiogram - ultrasound test that checks the structure and
function of your heart. There are several types of echo tests, including
transthoracic and transesophageal.
• Coronary Angiography - The procedure is conducted in a car-
diac catheterization laboratory rather than an operating theater.
• Coronary Angioplasty - Percutaneous Transluminal Coronary
Angioplasty
• Installation of a pacemaker - A pacemaker is used to control or
increase the heartbeat. It usually is placed under the skin beneath the
collarbone.
• Internal Medicine Internal medicine or General medi-
cine - Cardiovascular diseases, Respiratory diseases, Gastrointes-
tinal diseases, Diseases of kidney & urinary tract, Disorder of connec-
tive tissue & joints. Special Areas: Diabetic Care, Hypertensive Care,
Adult Immunization Care, Allergy Care, Family Medicine.
• Cardiology PACS Laboratory - A Cardiology PACS Labora-
tory, commonly referred to as a cath lab, is an examination room in a
hospital or clinic with diagnostic imaging equipment used to visualize
the arteries of the heart and the chambers of the heart and treat any
stenosis or abnormality found
• Emergency - medical & surgical intervention to treat critical & acute
illness & injuries.
Financial Performance
Fiscal ended, March 31
Particulars (Rs. in Lakh) 2024 2023 2022 2021
Total Income 260.58 192.49 347.66 380.24
The issue opens on August 13, 2024, and will close on
August 16, 2024. The minimum application to be made is for EBITDA 102.61 75.35 95.03 119.91
6000 shares and in multiples thereon, thereafter. Post allot- EBITDA Margin % 39.38 41.5 28.02 32.73
ment, shares will be listed on BSE SME. Fedex Securities Pvt. PAT 69.76 13.85 45.91 76.52
Ltd. is the Sole Lead Manager of the issue and KFin Tech- PAT Margin % 26.77 7.63 13.54 20.89
nologies Ltd. is the registrar to the issue. Aftertrade Broking Net Worth 546.92 216.32 225.14 191.57
Private Ltd. is the market maker for the company.
Return on Net Worth % 12.76 6.4 20.39 39.95
Broach Lifecare also provides Ballon mitral-valvuloplasty,
permanent pacemaker implantation, cardiac resynchronisation NAV per Equity Share 12.26 NA NA NA
procedures, implantable cardioverter-defibrillator (“AICD”) im-
plantation and procedures for congenital ailments such as Promoters of Broach Lifecare
coarctation of aorta, stenting and posterior descending artery
closure. Broach also offer a complete range of diagnostic and Dr. Jaykumar Narendra Vyas
therapeutic options such as endovascular revascularization, Holds a Bachelor of Medicine and bachelor’s of Sur-
deep vein thrombosis treatment and peripheral angioplasty. gery degree from Gujarat Medical Council. He also holds
The company's hospitals are NABH-certified as small pri- diploma of post graduate vocational training (residency
mary-level healthcare organizations. Additionally, it has re- training) in cardiology from I.M. Sechenov First Moscow
ceived certification from the Atomic Energy Regulatory Board State Medical University. He has around 10 years of
for the PACS System and a fire safety certificate from local experience in the field of cardiology. He is currently responsible for the
regulatory bodies to ensure patient safety. They are also a overall management of the Company.
member of Globe Bio Care for biomedical waste disposal. As Dr. Shachi Jaykumar Vyas
of August 2024, the company's hospitals are affiliated with 4 Holds a bachelor’s of medicine and bachelor’s of
PSU insurance companies, 15 private insurance companies, surgery degree from Gujarat Medical Council. She also
and 8 third-party administrators (TPAs). holds diploma of post graduate vocational training (resi-
Healthcare has become one of India’s largest sectors, dency training) in radiology from I.M. Sechenov First
both in terms of revenue and employment. Healthcare com- Moscow State Medical University. She has around 10 years of experi-
prises hospitals, medical devices, clinical trials, outsourcing, ence in the field of radiology.
telemedicine, medical tourism, health insurance and medical equipment. The Indian healthcare sector is growing at a brisk pace due to
its strengthening coverage, services, and increasing expenditure by public as well as private players.
***
Financial Weekly TM

Research Report Het Zaveri
- Ahmedabad
POWER GRID
Power Grid Corporation of India Limited is India's CMP Rs. 345
largest electric power transmission company and a 52 - week high / low Rs.362 / 180
Maharatna PSU company with a 51.34% stake GOI in PEG Ratio 2.42
the company. It was incorporated in 1989 primarily to Dividend % (consolidated) 3.25%
set up extra-high voltage alternating current and high- ROE 19 %
voltage direct current (HVDC) transmission lines.It is BV (Rs.) Rs. 93
currently engaged in planning, implementation, opera- Sales (Rs.) 45,801cr.
tion, and maintenance of Inter-State Transmission Sys- Debt to Equity 1.42
tem (ISTS), Telecom and consultancy services. P/E ratio 20.5
EPS (consolidated) 16.9
The company owns 85% of interstate transmission P/B ratio 3.69
networks through Transmission assets spreaded across Market Cap Rs. 3,21,989 Cr.
India which is covered by 1,77,790 ckms of Transmis- Face value Rs.10
sion lines and 1507 in nos through 278 substations and
528761 MVA capacity. It has IR capacity of 99850 MW which comprises 84% of total IR. It transmits
45% of power generated in India through 18 HVDC Sub stations, 62 765Kv Substations, 100 400Kv
Substations, 20 SVC/Satcoms, 63 GIS Substations, more than 2,90,000 Transmission towers and
more than 3800 transformers and rectifiers.
Under its Consultancy business, company global footprints of 23+ countries and have consulted
150+Domestic Clientswhich includes various government agencies like NHAI and departments,
CPSEs, state, and private power utilities and the Indian Railways and other government entities
like and state departments.On international front company 25+ Global Client with presence in coun-
tries of Asia, Africa, CIS countries, and AsiaPacific by providing Consultancy, Project Manage-
ment, and Asset Management Services to various clients which
include state-owned power utilities, multilateral funding agencies like World Bank & ADB, IFC,
and Govt. of India.
Under its TELECOM business company owns and operates 100,000 kmof Telecom
Network.Company has Points of Presence in 458 locations & Points of Interconnections in 780
locations along with Intra City network in 256 cities across India.The spare capacity of the telecom
infrastructure so available is being utilized for providing commercial telecom services to various
customers inter alia including telecom service providers, IT companies, Govt. Deptts., PSUs, State
Govts., Defense establishments etc.
Company is also promoting e-mobility by adopting Electric Vehicles (EV) for its own use and by
installing fast EV charging stations across the country. The Company has set up 11 EV fast charg-
ing stations and it operates 16 public EV charging stations at Delhi, Gurugram, Hyderabad,
Ahmedabad, Bengaluru, Kochi & Kozhikode. Work on additional 24 public EV charging stations is
in progress in Delhi, Bengaluru, Mysuru and Shillong and it is also developing 11 EV charging
stations in Shillong under Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles (FAME)
India scheme phase II. Company is also in advance stage o discussions with various Municipal
Corporations, DISCOMs, Metro Rail Authorities etc. for expanding Energy Vehicle Charging Sta-
tion network.
Cont...
Financial Weekly TM
Financial Results:
Company's Net Sales was at Rs 11,006.18 crore in June 2024 down by 0.38% from Rs. 11,048.13
crore in June 2023. Its Quarterly Net Profit was at Rs. 3,723.92 crore in June 2024 up 3.52% from
Rs. 3,597.16 crore in June 2023. Company's EBITDA stands at Rs. 9,875.88 crore in June 2024
down 0.16% from Rs. 9,892.07 crore in June 2023.
During Q1FY25, the Company incurred a Capital Expenditure of ? 4,615 crore and capitalized
assets worth ? 2,320 crore (excluding FERV) on consolidated basis.The total transmission assets
of POWERGRID and its subsidiaries stood at 1,77,790 CKM of transmission lines, 278 substa-
tions strategically placed across the country and 5,28,761 MVA of transformation capacity.
POWERGRID maintained average transmission system availability of 99.80% during Q1FY25.
Key Updates:
POWERGRID has recently acquired a Project Special Purpose Vehicle (SPV) viz. Khavda IV-
E2 Power Transmission Limited for the Transmission System Project for Evacuation of Power from
Potential Renewable Energy Zone in Khavda Area of Gujarat under Phase-IV (7GW) Part E2.
POWERGRIDhas signed an MoU with Rajasthan Rajya Vidyut Prasaran Nigam Limited
(RVPNL) to incorporate a Joint Venture Company for development of intra state transmission sys-
tem in the state of Rajasthan with an equity participation of 74% by POWERGRID and 26% by
RVPNL. The proposed JV company shall undertake projects worth upto Rs 10,000 Cr. in a phased
manner.
POWERGRIDhas successfully acquired four Special Purpose Vehicles (SPVs) for Inter-state
Transmission System (ISTS) Projects. The acquired SPVs-Vataman Transmission Limited, Koppal
II Gadag II Transmission Limited, Bikaner III Neemrana Transmission Limited and Neemrana II
Barielly Transmission Limited shall facilitate integration of Renewable Energy Zones, immediate
power evacuation and establishment of new ISTS transmission infrastructure.
The company has also acquired two Project Special Purpose Vehicles (SPVs) viz. Ramgarh II
Transmission Limited and Beawar Dausa Transmission Limited for the Transmission System
Projects for evacuation of power from REZ in Rajasthan (20GW) under Phase-III, Part C1 and Part
H respectively.
It has also acquired the Project Special Purpose Vehicle (SPV) - Khetri Narela Transmission
Limited. The Transmission project which was established under Build, Own, Operate and Main-
Financial Weekly TM

tain basis would help in evacuation of Renewable power from 8.1 GW Phase-II Solar energy zones
in Rajasthan to Delhi, Northern Region of the Country.The project includes 765 kV Gas Insulated
Substation (GIS) in Delhi and establishment of 765 kV D/C Transmission lines passing through
the states of Rajasthan, Haryana and Delhi with each line having a capacity to transfer about 4000
MW of power.
Powergrid has also launched the Virtual Smart Grid Knowledge Center Virtual (SGKC) and
Innovation Park virtually.The SGKC has been setup by POWERGRID with support from the MoP
and NSGM for the demonstration and advancement of frontier smart grid technologies.Itaims to be
one of the leading Centers of Excellence globally to foster innovation, entrepreneurship, and re-
search in smart grid technologies and create capacities in the power distribution sector.
The company has also provided Project Management Consulting services for establishment of
132 kV Kole-Gulu-Olwiyo-Nebbi-Arua D/Ckt Transmission line (289 kms) involving river crossing
of mighty White Nile having 120 meterstall towers on each bank along with associated four substa-
tions at Kole, Gulu, Nebbi and Arua under Grid Expansion & Reinforcement Project (GERP) funded
by World Bank. The transmission system integrates West Nile region with Ugandan National Grid
shall be contributing towards overall growth.
Company also bagged TBCB projects such as Rajasthan REZ Ph-IV (Part-2: 5.5 GW) (Jaisalmer/
Barmer Complex): Part-B, Rajasthan REZ Ph-IV (Part-2: 5.5 GW) (Jaisalmer/ Barmer Complex):
Part-D and Fatehpur-Bhadla HVDC: Rajasthan (20 GW) under Phase-III Part-I.
Company has also signed an MOU signed with ISRO to create a Spatial Decision Support
System for transmission tower management, featuring a geospatial dashboard and tools for disas-
ter analysis, alongside vegetation monitoring along transmission corridors.
Company has also developed a Substation Inspection Robot developed in association with IIT
Kanpur which has successfully carried out field trial run at Kanpur Substation. The robot facilitates
automatic inspection of substation. Markinga significant step towards data driven decision process
utilizing AI/ML for efficiency improvement in transmission system operations.
It has also bagged a project to establish inter-state transmission system for transmission system
strengthening for interconnections of Bhadla-III & Bikaner-III complex on build, own operate and
transfer (BOOT) basis.The project comprises 765kV D/C transmission line interconnecting Bhadla-
III & Bikaner-III substations and associated bays extension works at these substations in the state
of Rajasthan.
Company is also setting up a solar generation station at Nagda (in Madhya Pradesh), an 85
Mega Watt solar park and Green Hydrogen plant a on pilot basis at its Nimrana substation.
In last3 Years the stock gave a return of 161.45%as compared to the rise of Sensex and Nifty in
the same period.
Power Grid Corporation has planned capital expenditure outlook of Rs 2.07 lakh crore by finan-
cial year 2032 and approximately 91% of the projected capital expenditure will be allocated to the
transmission business, with the remaining funds reserved for other ventures such as Solar Gen-
Financial Weekly TM

eration, Smart Metering Infrastructure and Data Centres.It will also include investments for inter-
state transmission projects, intra-state transmission projects, cross-border business, international
operations, smart metering infrastructure and solar power projects.The company has Rs 1.14 lakh
crore of work in hand and it expects to complete projects worth Rs 60,000 crore to Rs 65,000 crore
in the next 2.5 years. The company has alsoannounced a capex plan of Rs 18,000 crore for FY
2024-25 and is planning to enhance the annual capex to about Rs 20,000 crores for next two
financial years. Along with that the company is also looking to diversify into renewable energy
sectorsalong with the setting up of green hydrogen plant. The company is playing a pivotal role in
the country's energy transition journey by large scale integration of renewable energy sources into
the National Grid.
India is poised to be a 5 trillion USD economy by the year 2030 driven by Rapid Industrializa-
tion, Urbanization, E-mobility etcand it is expected to have 500 GW Installed capacity of non-Fossil
along with growing Power requirement of ~125 GW for producing Green H2 under Green Hydro-
gen Mission. Considering various growth for Power and Energy industry, One Sun One World One
Grid aspirations for International Interconnections, growth in Power and Energy storage demand in
upcoming years, proven financial track record and ongoing work in hand, investors can invest in
this company for long term period.
HET ZAVERI
info@smartinvestment.in
(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 pur-
chases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest
obviously in their going up or down as the case may be.
Disclaimer: Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources
believed to be true & correct, and also is technical analysis based on & conceived from charts. 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. Investors must take advice from their financial advisors
before investing in any stocks.)

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Financial Weekly TM

Solve Plastic Products Limited
comes out with an SME IPO
Corporate Feature Solve Plastic Products IPO Details

Objects of the Issue IPO Date : August 13, 2024 to August 16, 2024
1. Funding Capital Expenditure towards the purchase Face Value : Rs 10 per share
of additional plant and machinery Price : Rs 91 per share
2. To meet the Working Capital Requirements Lot Size : 1200 Shares
3. To meet the Issue Expenses Total Issue Size : 1,302,000 shares
4. General Corporate Purposes (aggregating up to Rs 11.85 Cr)
Solve Plastic Products Limited manufactures a comprehen- (aggregating up to Rs 11.85 Cr)
sive range of uPVC pipes (unplasticized polyvinyl chloride) and Issue Type : Fixed Price Issue IPO
Rigid PVC electrical conduits and markets them under the brand
Listing At : NSE EMERGE
name "BALCOPIPES". The company's product portfolio includes
: Rigid PVC Electrical Conduits, uPVC Pipes, Solvent Cement, Share holding pre issue : 3,066,250
Water Tank, Garden Hoses, Fittings & Accessories. The com- Share holding post issue: 4,368,250
pany has 3 well-equipped manufacturing units in Kerala and 1 Market Maker portion : 66,000 shares
well-equipped manufacturing unit in Tamil Nadu. The products Lead Manager : Finshore Management Services Limited
manufactured are approved by various authorities like Bureau of Registrar : Integrated Registry Management
Indian Standards (BIS) and also by organizations like the Central
Public Works Department (CPWD) of Chennai and Kochi, Mili-
tary Engineer Services (MES), Integral Coach Factory, Public
Works Department (PWD) of Kerala and Tamil Nadu and Tamil
Nadu Housing Board. The company distributes its products
mainly in the state of Kerala.
Solve Plastic Products Limited is coming out with an SME
IPO. It will issue 13,02,000 equity shares of Rs. 10 each. It will
raise Rs 11.85 crore at the upper cap. Issue price is Rs 91 per
share. The issue opens on August 13, 2024, and will close on
August 16, 2024. The minimum application to be made is for 1200
shares and in multiples thereon, thereafter. Post allotment, shares
will be listed on NSE SME (Emerge).
Finshore Management Services Ltd. is the Sole Lead Man-
ager of the issue and Integrated Registry Management Services Proposed Expansion Rigid PVC Electrical Conduits: Considering the
Private Limited is the registrar to the issue. Black Fox Financial growing demand of Rigid PVC Electrical Conduits in the regional markets,
Private Limited is the market maker for the company. the company is proposing to enhance the plant capacity of Electrical
Cont... Conduits from 2760 MT (27,60,000 Kgs) Per Annum to 4860 MT (48,60,000
Kgs) Per Annum situated at their existing facility situated at Unit – 4 i.e. 3/
12/ 82 & 83, Karkuddy, Therkkumedu, Kesavapuram, Shencottah,
Solve Plastic is coming out Tirunelveli – 627813, Tamil Nadu. HDPE Pipes: Also seeing the demand of
with an SME IPO. It will HDPE Pipes, the company is proposing to augment its product portfolio by
issue 13,02,000 equity implementing manufacturing facility of HDPE Pipes of 2160 MT (21,60,000
Kgs) per Annum at their existing manufacturing facility situated at Unit – 2
shares of Rs. 10 each. It i.e. TP/XIII/707&708, Papannoor Road, Edamon, Kollam – 691307, Kerala,
will raise Rs 11.85 crore India. The overall Project cost for the proposed expansion project has
at the upper cap. Issue been estimated at Rs 552.64 lakhs.
price is Rs 91 per share. Solve Plastic Products Limited manufactures a compre-
The issue opens on hensive range of uPVC pipes (unplasticized polyvinyl
August 13, 2024, and will chloride) and Rigid PVC electrical conduits and markets
close on August 16, 2024
them under the brand name "BALCOPIPES"
Financial Weekly TM

Promoters of Solve Plastic
Sudheer Kumar Balakrishnan Nair
Aged about 59 years, he is the promotor and Managing
Director of the company since 1994. He has a degree of Bach-
elor of Technology in Civil Engineering from University of Kerela.
He has also done a Small and Medium Enterprises Programme
from IIM Ahmedabad. He has over all experience of over 33
years in PVC Pipe Industry and has been in the management
of Solve Plastic Products Limited as Promoter and Managing Director with active
involvement in policies, strategies as well as day to day operations of corporate,
technical, commercial, marketing and people functions.
Susil Balakrishnan Nair
Aged about 57 years, he is the promotor and Director
since 1994 and has been redesignated as a Whole time
Director of the company since 2016. He has a degree of
Solve Plastic markets its products under the brand name of Bachelor of Engineering in Electronics from Bangalore Uni-
“BALCOPIPES”, through its network of Authorized Dealers/Dis- versity. He started his career with Solve Plastic Products
tributors. As on the date of this Prospectus, the Company has (Proprietorship Firm) where he gained experience and exposure for over 30
260 Authorized Dealers/Distributors present across 3 (three) years in various operational functions viz. production, quality, engineering and
states i.e. Kerala, Karnataka and Tamil Nadu. It is registered maintenance, inventory management and logistics. He turned to entrepre-
vendor with government organizations such as Chennai Port neurship with manufacturing of fittings and accessories for electrical and water
pipes which he is successfully pursuing for over a decade now.
Authority and Southern Railway. In the year 2024, the company
has received letter of appreciation for the exceptional achieve- Balakrishnan Nair
ment of securing Zero Failure (Zero Failure License Achieve- Aged about 83 years, he is a graduate in Economics
ment) for the last 3 operative years from Bureau of Indian Stan- from Fathima Mata National College. He has more than 45
years of experience in the Automobile and PVC Pipes In-
dards (BIS) for the CM/L 4594681 according to IS 9537:PART
dustry. He has worked in the Kerela Motor Vehicle Depart-
3:1983 for the product Conduits for electrical installations: part 3 ment for a period of 31 Years. Thereafter he joined the
rigid plain conduits of insulating materials and in the year 2022, company in 2006 as a Director of the Company.
the company has received Certificate of Appreciation from Bu-
reau of Indian Standards in recognition of dedication to quality Aravind Sudheer Kumar
and association with BIS for more than 25 years. Aged about 32 years, completed his Post Graduate
The company is a quality oriented and innovative company Diploma in Management from Asian School of Business,
with a wide, comprehensive and cost–effective range of uPVC Trivandrum in the year 2015. He has over 8 years of experi-
ence in the PVC Pipe Extrusion Industry and started working
pipes and electrical conduits. It continuously aims at growing
as an Assistant Manager under the Administration Depart-
their product range to meet the needs of a growing India. It is
ment in this company since 2015. Aravind is currently functioning as the
committed towards constant innovations in drinking water piping
Operations Manager of the company and has been appointed as an Execu-
solutions and electrical conduit fittings to meet the constantly tive Director of the company on 6th January 2024.
increasing demands. their vision is to prioritized the use of mate-
rials that are mostly non-hazardous to the environment, to re-
Shankar Sudheer Kumar
Aged about 25 years, completed his degree in Electrical
duce wastage, zeroize the use of lead in its product & the ethical
and Electronics Engineering from Dr. A. P. J. Abdul Kalam
disposal of waste materials. The Company has 4 (four) manu- Technological University in the year 2020. He has over 3 years
facturing facilities, equipped with advanced R&D Lab, dedicated of post-qualification industry experience as a Production Man-
towards providing superior quality products. Solve Plastic Prod- ager in the Company. He has been appointed as the Execu-
ucts Pipes has been successfully manufacturing and marketing tive Director of the Company on 6th January, 2024 and is also
its products under the brand name “BALCOPIPES” and is well a member of Stakeholder Relationship Committee.
known for its commitment to quality and service. Govind Vinodkumar
India exports plastic to more than 200 countries in the world. Aged about 27 years, completed his degree of Bachelor
The top five consumer and houseware product importing coun- of Technology in Electronics and Communication Engineer-
tries are the USA, Germany Japan, the UK, and France. India ing from the Mahatma Gandhi University, Kerala in the year
largely exports plastic and related products to the USA, China, 2018. He has over 3 years of experience as an Associate
Engineer in IT system from Omnex Software Solutions Pri-
the UAE, the UK, Germany, Italy, Bangladesh, etc. The total value vate Limited from January’ 2019 to January’ 2022. He has
of exports to the USA, the largest consumer of the been working in our company since 2022 as an Assistant Manager under the
Indian plastic industry, stood at US$ 2.31 billion in 2022-23, a Marketing Department and was subsequently appointed as an Executive Di-
decrease of 4.71% YoY. China was the second largest con- rector on 6th January 2024.
sumer of plastic export products from India and the total value of
exports stood at US$ 690.95 million. The USA and China constituted 19.37%, and 5.78%, of the total plastic exports in 2022-23.
The total plastic exports from India to France during 2022-23 was around US$ 211.4 million. In order to boost exports to France and
Europe, PLEXCONCIL collaborated with the Indo-French Chamber in the first quarter of 2021-22. The Minister for Commerce and Industry,
Mr. Piyush Goyal, recently urged industry to adopt international standards to help it expand its global footprint. India has recently signed a
free-trade agreement with UAE and Australia, which will give the plastics industry new opportunities.
***
India exports plastic to more than 200 countries in the world. The top five consumer and
houseware product importing countries are the USA, Germany Japan, the UK, and France
Financial Weekly TM

Chart Check
Your Stock Our Recommendation
PTCIL :
Buy at cmp with sl of 12800 target 17099…19807…24189
Dynapro :
Buy in dip till 340 with sl of 320 target 550
Financial Weekly TM

UFLEX:
Buy at cmp with sl of 560 target 800
This are some stocks we received from our subscribers,

You can also send your to get featured in next week
For any query email us on
Financial Weekly TM

Financial Weekly TM

Corporate SCAN
Evexia Lifecare Ltd.
Board Approves Conversion of FCCBs
engaged in the trading of chemicals, manufacturing of intermediates, agricultural produce
and various other products of consumer goods, has announced that the members of the
company approved the issue of the foreign currency convertible bonds in the Annual General
Meeting held on July 9, 2022. The board has considered and approved conversion of 25
bonds into equity shares as per the terms and conditions of the issue of FCCB. Recently, the
Board of Directors at its meeting held on June 17, 2024 had also considered and approved
conversion of 75 bonds into equity shares as per the terms and conditions of the issue of
FCCB.
Earlier, EvexiaLifecare Ltd. Announced that it had incorporated a Subsidiary Company
namely "EVEXIA LIFECARE AFRICA LIMITED (CIN: 14497377)"which is registered with the
Registrar of Companies for England and Wales. The Registrar of Companies for England and
Wales has issued a Certificate of Incorporation for the same. EvexiaLifecare Formed the
New Subsidiary to Set Up Pathology Labs in Africa
is engaged in the trading of pharmaceuticals, chemicals, manufacturing of intermediates,
agricultural produce and various other products of consumer goods. It is mainly engaged in
the trading of pharma chemicals. The Company in trading of various petrochemical down-
stream products, such as special oils, special chemicals, petroleum sulphates and solvents
for industrial applications, such as rubber, leather, ink and paint industries. Its products
include pharma intermediates, plastic granule, chemicals, and gold and diamond. The Com-
pany focuses to expand its line of business in Web development, software development for
overseas clients, trading in gold and entertainment segment.
The company is committed to delivering high-quality products and services to its custom-
ers. It aims to achieve customer satisfaction by providing cost-effective and timely solu-
tions. The company has a team of experienced professionals who ensure that the products
meet the highest standards of quality.
EvexiaLifecare Ltd is a company that values innovation and keeps up with the latest
technologies and trends in the industry. It strives to provide its customers with the best
solutions and services that meet their evolving needs. The company has a long-term vision
of expanding its business globally and establishing itself as a leader in the industry.
Cont...
Financial Weekly TM

Integra Essentia Agro and Infra
Divisions Secure INR 280 MillionOrder
Integra Essentia Limited(BSE: 535958, NSE: ESSENTIA), a leader engaged in the business of
Life Essentials, has announced that it has secured a significant order valued at 280 million INR for
its Agro and Infrastructure businesses. This order underscores the consistent trust and quality that
the company's customers have in its products and services. The repeat business from its valued
clients is a testament to the reliability and excellence that Integra Essentia Limited delivers. These
steps not only propelsthe company towards its financial goals but also ensures substantial ben-
efits for all its stakeholders. Integra Essentia Limited remains committed to maintaining the highest
standards of quality and service as it continues to grow and expand its business operations.
Recently, the company reported stellar earnings for quarter ended 30 June 2024. The company
reported its revenue from operations at Rs. 8606.01 Lakhs (Q1FY25), a growth of 56% YoY. The
EBITDA grew 52% YoY, from Rs. 268.31 Lakhs (Q1FY24) to Rs. 408.78 Lakhs (Q1FY25). PAT
recorded a triple digit jump of 107% YoY, from Rs. 118.3 Lakhs (Q1FY24) to Rs. 245.27 Lakhs
(Q1FY25).
IEL is a company engaged in business of Life Essentials i.e. Food (Agro Products), Clothing
(Textiles and Garments), Infrastructure (Materials and Services for Construction and Infrastructure
Development) and Energy (Materials, Products and Services for the Renewable Energy Equip-
ment and Projects) and many more Products and Services required to sustain the modern life.
To serve the society, nation and global requirement by exploring and utilising their available
resources, deliverable at minimum cost to end users, the Company is committing significant in-
vestments in Food Essentials and remains focused on establishing itself as the leading player in
the foods industry. Besides food essentials and other businesses, the Company is presently
emphasising supplying bulk and speciality materials and services for Infrastructure needs of the
nation.
Integra Essentia Limited is a business with a substantial role to play both in creating and provid-
ing effective basic life materials and services, and on the other hand to enhance aspiring living
standards, opulent lifestyle through its vide offering of Agro, Health & Nutrition, Clothing, Energy &
Infrastructure, Bulk Materials and other lifestyle related products.
Marching ahead on the fast-growth track, Integra Essentia Limited recently acquired the CHA-
TEAU INDAGE Winery, as a part of its long-term business growth strategy and to strengthen its
presence in entire supply chain spectrum of consumable goods. With the rise in disposable in-
comes, rapid urbanization, access to reasonably priced domestic wines, the perceived health ben-
efits of consuming low alcohol beverages, and changing consumer attitudes have led to a signifi-
cant increase in wine consumption.
The company is promoted and managed by a core team of experts of diverse experience rel-
evant to the company businesses. The securities of the Company are listed on both the nationwide
Stock Exchanges, BSE (Scrip Code: 535958), and NSE (Scrip Code: ESSENTIA)
Financial Weekly TM

SMART BANKING & FINANCIAL SERVICES
By Dr. Vijaya Kittu M
Tracking the pulse of the Indian and Global Banking and Financial Services - so that the typical Indian Investor can benefit from it.His Ph.D. in Finance
thesis topic specialisesin Mutual funds. He is pursuing his second Ph.D. in Computer Science with a specialisation in blockchain.
RBI appeared to be taking a hawkish stand, so much so that the business media felt that the
central bank was overly cautious in its fight against inflation. The RBI decided to maintain the repo
rate at 6% for the ninth consecutive time. RBI feels that there is a downside risk for growth owing to
a fall in corporate profit and reduced government spending. RBI also appears to be expressing
concern about declining household incomes and that the funding for the consumption gap is actu-
ally coming from personal loans. Furthermore, potential capital gains arise from speculative in-
vestments funded by bank loans. Food inflation pressure is not to be ignored, said Governor Das,
who appeared to differ (without actually referring to the survey) from the Economic Survey for 2023-
24 proposal.
BARCLAYS-HURUN INDIA 2024 report showed an interesting statistical piece of infor-

mation. Ambani family's wealth is equal to 10% of India's GDP. The combined family wealth of
Ambani, Bajaj, and Birla - the top three wealthy families in India- is equal to that of Singapore's
GDP! Haldiram Snacks is valued at Rs. 63,000 crores,making it the most valuable unlisted com-
pany. Adani family, led by Gautam Adani, is the richest first-generation family with a valuation of
Rs. 15.44 lakh crores.
LIC OF INDIA is in the news during the week for multiple reasons. Reports say that LIC's
stock (equity) portfolio went up to Rs. 15 lakh crore in the June Q1 2024 quarter. The insurer has
cut down its exposure in 95 stocks during the period. The insurer recently announced flat numbers.
Keeping financial numbers aside, it is interesting that its new business premium climbed by 13.6
percent YoY. LIC said its Bangladesh office has partially resumed operations, but the situation is
still tense. Media reports said that LIC is getting close to acquiring health insurance companies
and entering the sector instead of setting up a vertical for it.
UPI TRANSACTION LIMIT HIKE got the attention during the week. A 'deligated pay-
ment' system will likelyallow a primary user to authorize another individual to make a UPI transac-
tion up to a specified limit. Simply put, this means that a mobile phone number can be authorized to
transact by another user with a bank account linked to the mobile number. For example, the parent
can delegate their children to be allowed access to the UPI to the extent of a pre-specific limit.RBI
is also considering increasing the UPI-based tax payments limit from Rs. 1 lakh to Rs. 5 lakhs.
Financial Weekly TM

Sunlite Recycling Industries
Limited comes out with an SME IPO
Sunlite Recycling Industries Ltd. (SRIL) is coming out with an SME IPO. It will issue
2880000 equity shares of Rs. 10 each. It will raise Rs. 30.24 crore at the upper
cap. It has announced a price band of Rs. 100 - Rs. 105 per share. The issue opens
for subscription on August 12, 2024, and will close on August 14, 2024
Sunlite Recycling Industries IPO Details

IPO Date : August 12, 2024 to August 14, 2024
Price Band : Rs 100 to Rs 105 per share
Corporate Feature Lot Size

Total Issue Size
:
:
1200 Shares
28,80,000 shares
Sunlite Recycling Industries Ltd. (SRIL) is
engaged in the business of manufacturing of (aggregating up to Rs 30.24 Cr)
copper rods & wires, copper earthing wires, Issue Type : Book Built Issue IPO
copper earthing strips, copper conductors, Listing At : NSE SME
copper wire bars etc. through recycling of Share holding pre issue : 80,00,000
copper scrap Share holding post issue : 1,08,80,000
Market Maker portion : 1,48,800 shares
Objects of the Issue Hem Finlease
1. Funding of capital expenditure towards the instal- Lead Manager : Hem Securities Limited
Registrar : Cameo Corporate Services Limited
lation of new Plant & Machinery.
2. Repayment and/or pre-payment, in full or part, of Strategic Advisors
certain borrowings availed by the company. to Company : JJ IPO Advisors Pvt. Ltd.
3. General Corporate Purpose.
Sunlite Recycling Industries Ltd. (SRIL) is engaged in
the business of manufacturing of copper rods & wires, cop-
per earthing wires, copper earthing strips, copper conduc-
tors, copper wire bars etc. through recycling of copper
scrap, which has electrical and mechanical properties suit-
able for applications in power generation, transmission,
distribution and electronic industries. Further, it is also
engaged in providing job work services for processing of
various products of copper, wherein customers provide it
with the copper scrap and the company is converting the
copper scrap into copper wire and copper wire rod as per
customer's requirement. It employs an internal quality con-
trol mechanism to ensure that finished product conforms
to the exact requirement of customers. Copper is one of the most recycled metals of all the
Sunlite Recycling Industries Ltd. (SRIL) is coming out metals. The recycling of copper scrap is gaining impor-
with an SME IPO. It will issue 2880000 equity shares of tance worldwide simply because of the fact that recovery
Rs. 10 each. It will raise Rs. 30.24 crore at the upper cap.
of copper metal from scrap requires much less energy
It has announced a price band of Rs. 100 - Rs. 105 per
share. than its recovery made from primary source
Cont...
Financial Weekly TM

The issue opens for subscription on August 12, 2024,
and will close on August 14, 2024. The minimum appli- Leadership of Sunlite
cation to be made is for 1200 shares and in multiples Nitin Kumar Heda
thereon, thereafter. Managing Director of the Company and holds Bach-
Post allotment, shares will be listed on NSE SME elors degree with experience of around 17 years
Emerge. The issue constitutes 26.47% of the post-IPO
paid-up capital of the company. From the net proceeds Prahladrai Ramdayal Heda
of the IPO, it will utilize Rs. 15.80 cr. for repayment/pre- Chairman & Whole time Director of the Company
payment of certain borrowings, Rs. 4.05 cr. for capex on and has experience of around 15 years
new plant and machinery, and the rest for general cor-
porate purposes. Khushboo Manishkumar Heda
Hem Securities Ltd. Is the Sole Lead Manager of the • Non-Executive Director of the Company
issue and Cameo Corporate Services Ltd. is the regis- & hold Masters degree having experience
trar to the issue. HEM groups Hem Finlease Pvt. Ltd. is of around 6 years
the market maker for the company. Manish Kumar Heda
Post-IPO, company's current paid-up equity capital • Promoter & Chief Financial Officer of
of Rs. 8.00 cr. will stand enhanced to Rs. 10.88 cr. Based the Company & hold Bachelors degree hav-
on the upper IPO price band, the company is looking for ing experience of around 15 years
a market cap of Rs. 114.24 cr.
On the financial performance front, for the last three fiscals, the company has posted a total income/net profit of Rs. 937.92 cr.
/ Rs. 4.26 cr. (FY22), Rs. 1150.40 cr. / Rs. 5.60 cr. (FY23), Rs. 1166.55 cr. / Rs. 8.90 cr. (FY24).
For the last three fiscals, it has reported an average EPS of Rs. 16.12, and an average RoNW of 79.92%. The issue is priced
at a P/BV of 2.41 based on its NAV of Rs. 43.55 as of March 31, 2024, and at a P/BV of 2.27 based on its post-IPO NAV of Rs. 46.21
per share (at the upper cap).
For the reported periods, the company has posted PAT margins of 0.45% (FY22), 0.49% (FY23), 0.76% (FY24), and RoCE
margins of 22.85%, 24.05%, 29.49% respectively for the referred periods.
It has a total of 20 machines to manufacture wide range of copper products. Its product Portfolio offers a diversified product
range which includes variety of grades, thickness, widths and standards, in all types of copper products according to customer
specifications. SRIL prioritizes environmental and safety considerations in copper production process. Its approach involves
recycling copper scrap utilizing electricity sourced from solar generation and clean natural gas, thus mitigating the pollution
associated with conventional oil-based energy sources. Copper is one of the most recycled metals of all the metals. The recycling
of copper scrap is gaining importance worldwide simply because of the fact that recovery of copper metal from scrap requires
much less energy than its recovery made from primary source. Besides, it enables conservation of natural resources. As of March
31, 2024, it had 38 employees on its payroll. It also employs contract labourers as and when Diversified
required.
The size of Indian copper industry (consumption of refined copper per annum) is around Product Category
6.6 lakh tonnes, which as percentage of world copper market is only three percent. Domestic Product range includes variety of
refined copper demand growth is expected to remain at 11% in FY 2024 and FY 2025, grades, thickness, widths & stan-
outpacing the rate of global growth in copper demand, given the GoI’s thrust on infrastructure dards
development and a gradual transition to renewable energy. The GoI’s target to achieve 500 Copper Rods
GW of renewable energy capacity by 2032 would entail significant capacity additions in the
• Oxygen Free Copper Rods
transmission network including for substations and electrical machineries in the coming • Fire-Refined High Conductivity
decade, translating into a healthy domestic copper demand. The automotive and transport Copper Rods-(FRHC)
sector also plays a pivotal role in the overall consumption of copper in India. After a stellar
performance in FY 2023 automotive demand is expected to remain steady in FY 2024 and Copper Wires
FY 2025. Additionally, investment in the metro rail network and railway electrification is also • Copper Earthing Wires
likely to also aide domestic copper consumption in the coming years. • Copper conductors
*** • Copper Submersible Wires
COPPER STRIPS
PRODUCTS PORTFOLIO
Financial Weekly TM
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Financial Weekly TM

SMART
BUY OF THE WEEK
Dark Horse
Dark Horse-1
INTERNATIONAL TRAVEL HOUSE LTD
ONLY AT BSE CODE - 500213
BSE SYMBOL - ITHL Rs.606 FV.Rs.10
International Travel House Limited (ITH) is one of India's leading travel management companies, which
started operations in 1981 and is the first publicly listed Indian travel company. ITH offers a diverse product
portfolio, such as business travel management, car rental services, meetings & events, leisure travel, etc.
An ISO 9001:2015 certified company, with a strong national footprint across 19 cities. A partner in the
network alliance of GlobalStar Travel Management, a worldwide travel management company which has a
presence in over 55 countries, thereby extending ITH's reach to almost all the major travel destinations of
the world. Recognised by IATA ; Approved by Department of Tourism, Government of India ; Member of
leading trade associations e.g. ASTA, CII, FICCI, PATA, TAAI, IATO, and FIEO.
PROMOTERS: ITHL promoted by ITC LTD. It has an equity base of Rs.7.99 cr. that
is supported by reserve of Rs.134.47 cr. ITC hold 48.96%, Russell Investments Ltd hold
12.73%, Ten HNIs hold 12.33% in which Anmol Sekhri hold 2.26%, Dheeraj Kumar Lohia
hold 1.44%, Jignesh M. Mehta hold 2.38%, T. J. Mehta hold 1.65%, Vaibhav Doshi hold 3.01%.
For Q1FY25, ITHL posted PAT of Rs.6.71 crore on income of Rs.55.75 crore fetching an EPS of Rs.8.39
in 3 months. For FY24, it posted PAT of Rs.22.50 cr. on income of Rs.217.33 cr. and an EPS of Rs.28.15.It
paid 50% dividend for FY24. Its 52 weeks high is Rs.781.
Based on the above financial and performance parameters, the ITHL share looks quite attractive at the
current level. Investors can ITHL with a stop loss of Rs.565.
On 2nd October Mafatlal Ind. was given at Rs.141 hit Rs.221, a gain of 57%, on 23rd October,Techno
Ele. was given at Rs. 514 hit Rs.1765 a gain of 243%, on 12th November Morepen Laboratories was
given at Rs.36 touched Rs.63, a gain of 75% & still looks good, on 11th December IND-SWIFT LAB
was given at Rs.91 hit Rs.186, a gain of 104%, on 24th December ELECTROSTEEL was given at
Rs.113 hit Rs.224, a gain of 98%, on 7th January 24 Sika Interplant was given at Rs.1395 hit Rs.3548
a gain of 154%, on 15th January COMPETENT Auto was given at Rs.408 hit Rs.628 a gain of 54%, on
22nd January HFCL was given at Rs.88 hit Rs.142, a gain of 61% & still looks good, on 28th January
Sarla Perfomance was given at Rs.65 hit Rs.118, a gain of 82%, on 18th February Lehar Footwears
was given at Rs.132 hit Rs.253, a gain of 80%, on 4th March 24, HG Infra was given at Rs.899 hit
Rs.1880, a gain of 109%,on 30th June Hindustan Adhesives was given at Rs.388 hit Rs.488, a gain of
26%,on 7th July RAMKY INFRA was given at Rs.618 hit Rs.778, a gain of 26%, on on 21st Morepen
Lab was given at Rs.54 hit Rs.63 & still look strong, on 28th July BMW was given at Rs.64 hit Rs.79,
a gain of 23% during the week. It is better to book partial profit in 3-4 parts at every rise, where you
are getting very good profit in short term, because who manage fear & greed can create the wealth
from market.
Cont...
Financial Weekly TM

Dark Horse-2
JASCH INDUSTRIES LTD
ONLY AT BSE CODE - 500220
BSE SYMBOL - JASCH Rs.175 FV.Rs.10
Jasch Industries Limited is engaged in manufacturing of polyurethane (PU) or polyvinyl chloride (PVC)
coated fabrics, allied products, and nucleonic and X-ray source-based thickness gauging systems. The
Company operates through two segments: Synthetic Leather Cloth & Allied Products division. Its PU/PVC
coated fabric is used in footwear industry as raw material for shoe-upper, lining, insole, sandal straps;
garments as lining material; automobiles as seat covers; furniture upholstery material, ladies and gents'
purses, bags, luggage, and the manufacture of sports goods and accessories.
Development of new types of high quality PU resins and coated fabric, particularly breath-
able ones, presents fresh opportunities in automotive sector and some other sectors, be-
cause there is less competition in these fields. Obsolescence of technology of coated fab-
rics poses a threat but through foreign technical expertise, the company is continuously
upgrading its technology. Most of Synthetic Leather Units in India manufacture only PVC
Leather and Jasch Industries Limited is the only significant manufacturer of PU Synthetic
Leather. There are also fresh opportunities in the automative sector.
It has an equity base of just Rs.6.80 cr. that is supported by reserves of around Rs.52 cr. The
Promoters hold 57.64% & 7 HNIs hold 7.80% holding including Sangeetha S. hold 3.01% &
Krishnamurthy Iyer hold 1.15% stake in the company. During Q1FY25, it posted PAT of Rs.1.90 cr.
on sales of Rs.41.82 cr.Which was only 77 lakhs in Q4FY24, a gain of 147%. Its 52 Week high is Rs
377
Based on the above financial and performance parameters, share JASCH looks quite attractive at the
current level. Investors can watch JASCH with a stop loss of Rs.156.
On 2nd October Mafatlal Ind. was given at Rs.141 hit Rs.221, a gain of 57%, on 23rd October,
Techno Ele. was given at Rs. 514 hit Rs.1765 a gain of 243%, on 12th November Morepen Laborato-
ries was given at Rs.36 touched Rs.63, a gain of 75% & still looks good, on 11th December IND-
SWIFT LAB was given at Rs.91 hit Rs.186, a gain of 104%, on 24th December ELECTROSTEEL was
given at Rs.113 hit Rs.224, a gain of 98%, on 7th January 24 Sika Interplant was given at Rs.1395 hit
Rs.3548 a gain of 154%, on 15th January COMPETENT Auto was given at Rs.408 hit Rs.628 a gain of
54%, on 22nd January HFCL was given at Rs.88 hit Rs.142, a gain of 61% & still looks good, on 28th
January Sarla Perfomance was given at Rs.65 hit Rs.118, a gain of 82%, on 18th February Lehar
Footwears was given at Rs.132 hit Rs.253, a gain of 80%, on 4th March 24, HG Infra was given at
Rs.899 hit Rs.1880, a gain of 109%,on 30th June Hindustan Adhesives was given at Rs.388 hit Rs.488,
a gain of 26%,on 7th July RAMKY INFRA was given at Rs.618 hit Rs.778, a gain of 26%, on on 21st
Morepen Lab was given at Rs.54 hit Rs.63 & still look strong, on 28th July BMW was given at Rs.64
hit Rs.79, a gain of 23% during the week. It is better to book partial profit in 3-4 parts at every rise,
where you are getting very good profit in short term, because who manage fear & greed can create
the wealth from market.
Financial Weekly TM

Smart Education - Yog Joshi
Technical Analysis
From
Basic to Advance
Having surpassed 24400,

The market is set to soar to new heights"
Hello Friends, I hope you are all doing well.
During the past week, we observed significant fluctuations in the market, and on Friday, Nifty
closed with a positive jump of 250 points.
In previous editions of Smart Investment, we extensively discussed support and resis-

tance, Fibonacci, and Gap theory. Based on these studies, if we observe the chart as of
Friday's closing, it appears that historical data shows a very bearish gap or gap-down open-
ing with a red bearish candle on the chart. Now, considering today’s positive closing, Nifty
closed above its psychological resistance level of 24300 - 24350, which can be considered a
very positive sign for the future.
Furthermore, if we examine the chart, Nifty's closing has occurred near a bearish gap-
down candle, which, according to gap theory, indicates the possibility of filling this bearish
gap through a bullish gap-up opening or very strong bullish momentum with positive senti-
ments.
Observing the chart, it seems that Nifty's current closing above its psychological resis-
tance of 24300 and 24350 indicates a positive sentiment for the coming days. Now, if we talk
about upcoming resistance levels, the next strong resistance level is around 24400. If Nifty
manages to break this resistance level of 24400 and closes above it, there is a strong
likelihood of a bullish momentum with a significant gap-up opening in the coming days, as
suggested by gap theory.
I hope you all find this article interesting...!!!
Financial Weekly TM

Terrific Shots - Dilip K. Shah
Zen Techno (Rs 1737.00) (Code: 533339) : This company, operating in the defense sector and
listed in Group A, has a face value of Rs 1. Over the week, the share price increased to Rs 1768 and de-
creased to Rs 650. The company has launched new products based on artificial intelligence, which is ex-
pected to significantly boost its business. Currently, only 3.5% of revenue is derived from annual maintenance
charges, with a 58% margin. The company is focusing on research and development, and significant growth
is anticipated in the near future. Significant revenue is also expected from exports, with the export order book
currently at Rs 440 crores and expected to be worked on during 2024-25. At the end of the first quarter, the
company had a total order book position of Rs 11.6 lakhs crores, and for 2024-25, a 25% profit margin on an
expected revenue of Rs 900 crores is anticipated. The equity is Rs 7 crores with reserves of Rs 243 crores. In
the June quarter of the financial year 2024, the company’s total revenue was Rs 257 crores, compared to
reserves of Rs 79 crores. The previous year’s corresponding period showed total revenue of Rs 135 crores
and a net profit of Rs 48 crores. For 2024-25, earnings per share (EPS) are expected to increase from Rs
15.70 to Rs 29.40, while the stock is currently trading at a P/E ratio of 54.70.
Safari Industries (Rs 2311.00) (Code: 523025) : Listed in Group A on the BSE, this company's
shares have a face value of Rs 2. Over the year, the share price increased to Rs 2475 and decreased to Rs
1556.03. At the current price, the company's market cap is Rs 11,302 crores. The stake distribution is: pro-
moters 45.73% and public 54.27%. In the financial year 2024, the company’s revenue increased from Rs
1,212 crores to Rs 1,550 crores, and the profit increased from Rs 125 crores to Rs 176 crores. For the June
quarter, the company reported somewhat weaker results, with revenue increasing from Rs 427 crores to Rs
450 crores, while the profit decreased from Rs 50 crores to Rs 44 crores. The EPS for the June quarter was
Rs 9.11. The company operates in the luggage segment similar to VIP Industries and has significantly in-
creased its market share over the past 7-8 years. Although the valuation at current levels seems somewhat
high, the company has shown consistent and strong growth, making the stock attractive. Any decline in the
stock price could present a good long-term buying opportunity. The management is bullish about the company’s
future. The company's equity is only Rs 10 crores with substantial reserves of Rs 814 crores. FII holds 12.69%
and domestic funds hold 21.83%. Ashish Kacholia holds a 1.85% stake in the company.
Cholamandalam Investment (Rs 1347.00) (Code: 511243) : Cholamandalam, an NBFC com-
pany, has a strong position. Listed in Group A, the company’s face value is Rs 1. Over the week, the price
increased to Rs 1476 and decreased to Rs 997. In the first quarter, the company showed very strong perfor-
mance in terms of asset quality, operating expenses, etc., despite slightly higher credit costs due to elections
and seasonal factors. The management anticipates an annual increase of 25-30% in asset quality over the
next five years. The company is now focusing on high-return products in its product mix, which is expected to
improve profitability. The stake distribution is: promoters 50.33% and public 49.67%. The book value is Rs
233. Equity is Rs 168 crores, with reserves of Rs 19,423 crores, showing good net profit. An increase of 28%
in asset quality is expected this year.
Dalmia Bharat (Rs 1742.00) (Code: 542216) : Dalmia Bharat is a leading cement manufacturer in
the southern Dalmia Group. The company has two plants in Tamil Nadu and one in Andhra Pradesh. Active in
this segment since 1939, the company has a capacity of 9 million tons. Additionally, the company holds a
45.4% stake in OCL India, strengthening its presence in the eastern states. The company has expanded its
presence in the eastern states by acquiring modern cement companies like Meghalaya Cement and Calcuttan
Cement and also acquired P Group’s cement assets. The company’s equity is Rs 38 crores with substantial
reserves of Rs 16,359 crores. In the June quarter of the financial year 2025, the company’s revenue slightly
decreased from Rs 3,627 crores to Rs 3,621 crores, while the profit increased from Rs 144 crores to Rs 145
crores. The EPS for the June quarter was Rs 7.52. Listed in Group A on the BSE, the face value of the
company’s shares is Rs 2. Over the year, the share price increased to Rs 2428.85 and decreased to Rs
1664.2. At the current price, the company’s market cap is Rs 32,797 crores. The Indian government is making
significant investments in the North East, and large-scale infrastructure projects are expected in this region
over the next five years, which could benefit the company. The cement sector is expected to perform strongly
in the second half of the financial year 2025.
* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month • All stocks rates / indices on 12th July, 2024 unless
specified 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 TM

Stock Wave Sarvesh Ashok Trivedi
(Mumbai)
Important Resistance Levels for

Index at 79853 and Nifty Future at 24550
BSE Index (79705.91) : The index is showing a weakening trend from the top of 82129.49.
It shows oversold position on a daily basis, neutral position on a weekly basis, and overbought
position on a monthly basis. On the upside, beyond 79853, significant resistance levels at 79984,
80405, and 84868. On the downward movement below 78295 could lead to further selling pres-
sure, with potential targets of 77670, 76920, and 76180.
Bank Nifty Future (50800.00) : The trend is weakening from the top of 50301.10. The
position is oversold on daily and weekly basis, and overbought on the monthly basis. On the up-
side, beyond 50795, the key resistance levels are 50977 and 51152. On the downward movement
below 49815 may trigger more selling pressure.
Nifty Future (24398.50) : The index is showing a weakening trend from the top of 25132.85.
It shows oversold position on a daily basis and overbought position on a weekly basis. On the
upside, beyond 24444, significant resistance levels are 24550, and 24670. If the index drops be-
low 23912, it could lead to more selling, with potential targets of 23680, 23440, and 23200.
Escorts (3687.80) : The stock is weakening from the top of 4234.45. It shows oversold
position on daily and weekly basis and overbought position on the monthly basis. On the upside,
key resistance levels are 3842 and 3907. On the downside, if the stock falls below 3670, it may
drop to 3623, 3515, 3403, and 3307.
HDFC Bank (1650.00) : The stock is showing a recovery from the bottom of 1588.05. It
shows a neutral position on daily and weekly basis, as well as on the monthly basis. On the up-
side, key resistance levels are 1653, 1671, 1685, and 1691, with a potential target of 1704, 1715,
and 1730. Support levels are at 1630 and 1593, with a strong support at 1588.
Infosys (1770.75) : The stock is weakening from the top of 1903. It shows oversold position
on a daily basis and overbought position on weekly and monthly basis. On the upside, key resis-
tance levels are 1798 and 1817. On the downside, a drop below 1727 could lead to further decline
to 1718, and possibly 1695.
Reliance (2948.60) : The stock is weakening from the top of 3217.60. It shows a neutral
position on daily basis, oversold position on weekly basis, and shifting from overbought to neutral
position on the monthly basis. On the upside, key resistance levels are 2975 and 2987. On the
downside, support levels are at 2891, 2866, 2843, and 2818.
Voltas (1428.85) : The stock is weakening from the top of 1559.85. It shows oversold posi-
tion on a daily basis, neutral position on weekly basis, and overbought position on the monthly
basis. On the upside, key resistance levels are 1479, 1500, and 1512. On the downside, a drop
below 1418 could lead to further decline to 1397, 1377, and 1360.
Disclosure : The Recommendations are based on technical analysis. There is a risk of loss in trading.
: Golden quotes :
Mistakes are the portals of discovery
Financial Weekly TM

PRITIKA ENGINEERING
Component’s Consolidated Q1FY25 EBITDA Surged 32%
Corporate Feature
The product range includes various compo-
nents such as End Covers, Sealed Brake
Covers, Differential Cases, Hydraulic Lift
Covers, Transcase Covers, Front Wheel
Hubs, Fly Wheel Housings, Rear Axle Cas-
ings, Hydraulic Lift Covers, Brake Housings,
and Front Engine Supports
Pritika Engineering Components Limited is a
member of the Pritika Group of Industries. The
company specializes in producing precision ma- Stock Details
chined components primarily for the automotive PRITIKA ENGINEERING COMPONENTS LIMITED
industry, with a focus on tractors, trucks, and (INE0MJQ01012)
other commercial vehicles. As a significant sup-
plier to Original Equipment Manufacturers
CMP : Rs 103.30
(OEMs), Pritika Engineering Components Lim- 52WH : Rs 111.50 (2-8-2024)
ited serves the tractor sector within the automo- 52WL : Rs 39.20 (8-8-2023)
tive industry. Its product range includes various Face Value : Rs 10
components such as End Covers, Sealed Brake Market Lot : 2000 Share
Covers, Differential Cases, Hydraulic Lift Cov- Listing Date : 8-12-2022
ers, Transcase Covers, Front Wheel Hubs, Fly
Index : Nifty SME Emerge
Wheel Housings, Rear Axle Casings, Hydraulic
Lift Covers, Brake Housings, and Front Engine
Basic Industries : Auto Components & Equipments
Supports. Pritika Group has long standing rela-
tions with its clients for more than 50 years. Key Highlights of Q1 FY25
Pritika Engineering Components reported
• The company plans to raise its Authorized Share
better Q1 numbers. Its Net profit rose 1.88% to
Rs 0.94 crore in the quarter ended June 2024 Capital from Rs 20 Cr to Rs 25 Cr.
as against Rs 0.93 crore during the previous • The company has decided to raise up to Rs 49.50
quarter ended June 2023. Sales rose 6.38% to Cr to support its expansion and diversification
Rs 22.89 crore in the quarter ended June 2024 plans, driving future growth
as against Rs 21.52 crore during the previous • The company will Enhance its market position.
quarter ended June 2023. EBITDA jumped 31.99
per cent to Rs.3.61 crore against Rs.2.74.
EBITDA Margin also jumped 306 basis points to
15.78 per cent against 12.71 per cent.
Commenting on the performance, Mr.
Harpreet S. Nibber, Managing Director, Pritika En-
gineering Components Limited said, “We started
FY25 with a strong surge of 32% in EBITDA dem-
onstrating our improved operational efficiency
despite election laid industry slowdown.
Cont...
Financial Weekly TM

Mr. Harpreet S. Nibber
Managing Director, Pritika Engineering Components Limited
Quote :
‘We are seeing de-
mand normalization with
highest ever sales of
900 tons in July 2024 in-
We are seeing demand normalization with
dicating strong outlook
highest ever sales of 900 tons in July 2024 indi- for our products for the
cating strong outlook for our products for the
rest of FY25. To cater
rest of FY25. To cater the rising demand, we
are planning to expand our existing capacity and the rising demand, we are planning to expand our exist-
business diversification with proposed capex to ing capacity and business diversification with proposed
be funded by fund raise upto?49.50 Cr. With capex to be funded by fund raise uptoRs 49.50 Crore.’
our quality products and strong client relation-
ship, we are all leveraged to benefit from rising
demand and benefit from expansion. The Com-
pany is strategizing to venture into railways com-
ponents and defence components business to
meet the rising demand from these verticals.
We are confident to bring substantial growth
from our strategic initiatives enhancing in the
coming years.”
In line with its growth strategy, Pritika Engi- Pritika Engineering Components Limited is a
neering commenced commercial production at
its new plant in Punjab last year. This state-of- member of the Pritika Group of Industries.
the-art facility, with a capacity of 12,000 tons The company specializes in producing preci-
per annum, not only expands its production ca- sion machined components primarily for the
pabilities but also focuses on higher weight
products, enhancing its product suite and mar- automotive industry, with a focus on trac-
ket offerings, while also boosting average re- tors, trucks, and other commercial vehicles
alizations per ton. This facility contributes to
overall capacity expansion efforts with a total CAPEX investment of Rs. 23.61 crore.
In FY24, Pritika Engineering achieved remarkable growth, with net revenue reaching Rs. 87.17 crores,
reflecting a substantial increase from Rs. 82.32 crores in FY23. Our EBITDA for FY24 stood at Rs. 11.44
crores, with an improved EBITDA margin of 13.12%, compared to Rs. 10.30 crores and 12.51% in FY23.
Additionally, our Profit After Tax (PAT) for FY24 amounted to Rs. 3.72 crores, showcasing steady growth
from Rs. 3.54 crores in FY23. These financial metrics underscore our strategic focus on sustainable growth
and operational efficiency.
Pritika Engineering’s chairman is optimistic about the opportunities in emerging technologies and inter-
national markets. Our commitment to operational excellence, strategic partnerships, and customer-centric
approach positions us well for sustained growth and profitability.
***
Major OEM clients

Financial Weekly TM

Dilip Davda
Expert’s Eye
Monday Massacre keeps the week in RED

Markets in a CORRECTION mode for a while
The Concluded week :- The week under report opened with a gap down opening for the
first session, which turned out to be a Monday Massacre. There after market moved both
ways in a narrow range with range bound movement. Though it marked positive trades for
midweek and final session, it fell short and the week finally turned red.
RBI maintaining status-quo on rates failed to cheer the market, however, rate sensitive
counters marked volatile trades. While FIIs were the net sellers for the week except for
Friday, DIIs were the net buyers throughout the week. In fact, both these mega investors
turned mega net seller/buyer respectively for the first session. Market breadth remained
BONUS ANNOUNCED EX-RIGHTS negative except for the midweek and the
Indo Cotspin (7 for 10), Swiss Military last session.
Saksoft (1 for 4),
IFL Enterprises (1 for 150),
EX-BONUS During the week, BSE Sensex moved
Rajoo Engg (1 for 1),
Starlineps (1 for 5), Aartech Solo (1 for 2), between 79984.24 - 78295.86, and NSE
NDR Auto (1 for 1), Caspian Corp (2 for 1),
Axita Cotton (1 for 3) D J Media (2 for 1), Nifty hovered between 24419.75 -
Guj Themis (1 for 2),
Ex Split Maruti Infra (1 for 2), 23893.70.
Sakuma Expo (4 for 1).
Aayush Wellness (10 for 1), For the week while BSE Sensexmarked
Aartech Solonics (2 for 1),
Balmer Lawrie (10 for 1),
BONUS MEET a net weekly LOSS of -1276.04 points,
Filatex Fashions (5 for 1), Khoobsurat (12.08.24),
Maruti Infra (5 for 1), Pulsar Intl. (12.08.24), NSE Nifty posted fallof- 350.20 points.
Rushil Décor (10 for 1), Classic Ele. (13.08.24), Monday : For the first session of the
Thinkink Picture (5 for 1). Shikhar Leasing (13.08.24).
week, markets opened lower with a gap
DIVIDEND ANNOUNCEMENTS on expected lines following weak global
Globus Spirit (35%), IG Petro (75%), Amba Enterprises (10%), Bata
India (200%), Man Infra (22.5%), PFC (32.5%), Rain Ind. (50%), Symphony trends and post noon it witnessed massa-
(50%), Blue chip Tex (10%), Caplin Point (125%), Dr. Lal Path (60%),
Godawari Power (25%), Godrej Consumer (500%), Josts Engg. (100%), cre to mark mega single day loss. BSE
Omnitex Ind. (80%), TransIndia Real (25%), ABB India (533%), Alicon
Castalloy (90%), Container Corp (40%), Gateway Distri (12.5%), Gretex Sensex lost 2222.55 points to close at
Corp (3%), KPI Green (4%), NAVA Ltd. (200%), Prevest Denpro (10%), SKM
Egg (25%), Snowman Logi (10%), Steelcast (27%), Uniparts (67.5%), Up- 78759.40, and NSE Nifty marked a deficit
surge Inv (5%), Vidhi Spl. (100%), Balkrishna Ind. (200%), Comfort
Commotrade (5%), Delton Cables (15%), Dreamfolks (75%), Goldiam Intl.
of 662.10 points to end the day at 24055.60.
(50%), Indo Amines (10%), Insecticides (20%), IRB Infra (10%), Kirloskar
Ferrous (50%), Krishanveer Forge (20%), Sanghvi Movers (300%), Satia
Due to all out selling across the board,
Ind. (10%), Sun TV (100%), Systematix Corp (10%), etc. Cont...
Financial Weekly TM

market breadth turned hugely negative. FIIs were the mega net sellers and DIIs turned mega
net buyers for the day.
Tuesday : Second session marked cautious but positive opening and after moving both
ways, it finally closed with some losses. BSE Sensex posted a fall of 166.33 points to end
the day at 78593.07, and NSE Nifty marked a mere loss of 63.05 points to close at 23992.55.
Market breadth remained red as all counters were witnessing selling spree. FIIs were the net
sellers and DIIs were the net buyers for the day.
Wednesday : Midweek session marked gap up opening and traded in green for the day to
close with good recovery. BSE Sensex scored 874.94 points to close at 79468.01, and NSE
Nifty gained 304.95 points to end the day at 24297.50. Market breadth turned positive as Mid
and Small cap indices outperformed benchmarks. FIIs continued to be the net sellers and
DIIs remained net buyers for the day.
Thursday : Second last session opened flat but in red. After moving both ways, bench-
marks closed with some losses. BSE Sensex fell by 581.79 points to end the day at 78886.22,
and NSE Nifty lost 180.50 points to close at 24117.00. Though Mid and Small cap indices
outperformed benchmarks, weak side market kept market breadth negative. FIIs continued
to be the net sellers and DIIs as net buyers for the day.
Friday : The final session marked gap up opening amidst short coverings ahead of trun-
Nifty & Sensex Movement during the week

Sensex Open High Low Close Diff
05-08-2024 78,588.19 79,780.61 78,295.86 78,759.40 -2,222.55
06-08-2024 78,981.97 79,852.08 78,496.57 78,593.07 -166.33
07-08-2024 79,565.40 79,639.20 79,106.20 79,468.01 874.94
08-08-2024 79,420.49 79,626.92 78,798.94 78,886.22 -581.79
09-08-2024 79,984.24 79,984.24 79,549.09 79,705.91 819.69
Net Weekly Loss -1,276.04
NSE - Nifty Open High Low Close Diff
05-Aug-24 24,302.85 24,350.05 23,893.70 24,055.60 -662.10
06-Aug-24 24,189.85 24,382.60 23,960.40 23,992.55 -63.05
07-Aug-24 24,289.40 24,337.70 24,184.90 24,297.50 304.95
08-Aug-24 24,248.55 24,340.50 24,079.70 24,117.00 -180.50
09-Aug-24 24,386.85 24,419.75 24,311.20 24,367.50 250.50
Net Weekly Loss -350.20
Financial Weekly TM

cated week ahead with holiday mood. After trading in green, benchmarks marked good
gains. BSE Sensex scored 819.69 points to close at 79705.91, and NSE Nifty gained 250.50
points to end the day at 24367.50. Mid cap index outperformed while Small cap index
underperformed benchmarks, however surge in side market kept market breadth positive.
FIIs turned token net buyers and DIIs continued to be the net buyer for the day.
The Ensuing week :- Brent Crude oil remain range boundto end the week around 79.39$ a
barrel and Rupee moved in a narrow rangeto close at Rs. 83.96 a dollar by weekend. Market
men has on radar final spell of monsoon and other economical domestic as well as global
data. We have 2035+ corporate meetings in the ensuing week that will keep market on a
stock specific mode as usual and bring more volatility.
We have just four sessions for the ensuing week, as all markets will remain closed on
Thursday i.e. 15.08.24 on account of Independence Day Holiday.
Amidst such a scenario BSE Sensex may move in the rage of 80750 - 77250 and NSE
Nifty in the range of 25250-23250.
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 invest-
ment decisions. Readers must consult a qualified financial advisor before making any actual investment deci-
sions, based on the information published here. Any reader taking decisions based on any information pub-
lished here does so entirely at its own risk. Investors should bear in mind that any investment in stock markets
is subject to unpredictable market-related risks. The above information is based on RHP and other documents
available as of date coupled with market perception. The author has no plans to invest in this offer.
(SEBI registered Research Analyst-Mumbai).
Financial Weekly
Every Sunday Every Wednesday
English & Gujarati Edition Gujarati Edition

Financial Weekly TM

Saraswati Saree Depot Limited
Enters into the capital market
through Rs.160 crore Mainboard IPO
Saraswati Saree Depot Limited (SSDL) is coming out with Mainboard IPO.
It will issue 10,000,800 equity shares of Rs. 10 each. It will raise Rs 160.01 crore. Issue price
band is Rs 152 to Rs 160 per share per share per share.
The issue opens on August 12, 2024, and will close on August 14, 2024
Saraswati Saree Depot Limited (SSDL) is a key player in
sarees wholesale (B2B) segment and their origin into the sarees
business dates back to the year 1966. SSDL is also engaged in
Corporate
the wholesale business of other women's apparel wear such as
kurtis, dress materials, blouse pieces, lehengas, bottoms, etc.
On an average more than 90% of SSDL's total revenues are
Feature
Objects of the Issue
generated from sale of sarees. In Fiscal 2024, They have served
over 13,000 unique customers and their product catalogue con- 1. Funding working capital re-
sists of more than 3,00,000 different SKUs.
SSDL expanded their product range to include ready-made
quirements of the company.
garments in 2017 with the beginning of Kurti sales. Since then, 2. General corporate purposes.
the ready-mades portfolio has grown to include several other
offerings such as bottoms, pyjamas, one-piece clothing and
dresses. Kurti business of M/s. Saraswati Saree Depot have Saraswati Saree Depot IPO Details
grown significantly and has been recognized with awards such IPO Date : August 12, 2024 to August 14, 2024
as "Star of the Industry" and "Iconic Brand" at the annual Kurti Face Value : Rs 10 per share
Expo events. In Fiscal 2018, sales of M/s. Saraswati Saree Price Band : Rs 152 to Rs 160 per share
Depot crossed 4,000 million mark. For its contributions to the
Lot Size : 90 Shares
commerce in the state of Maharashtra, it was awarded with the
"Achievers of South Maharashtra" award by the Times of India. Total Issue Size : 10,000,800 shares
Saraswati Saree Depot Limited (SSDL) is coming out with (aggregating up to Rs 160.01 Cr)
Mainboard IPO. It will issue 10,000,800 equity shares of Rs. 10 Fresh Issue : 6,499,800 shares
each. Out of these, 6,499,800 fresh equity shares will be issued, (aggregating up to Rs 104.00 Cr)
while, 3,501,000 equity shares will be issued through Offer for Offer for Sale : 3,501,000 shares of Rs 10
Sale (OFS). It will raise Rs 160.01 crore. Issue price band is Rs (aggregating up to Rs 56.02 Cr)
152 to Rs 160 per share per share per share. The issue opens Issue Type : Book Built Issue IPO
on August 12, 2024, and will close on August 14, 2024. The
Listing At : BSE, NSE
minimum application to be made is for 90 shares and in multiples
Share holding pre issue : 33,100,000
thereon, thereafter. Post allotment, shares will be listed on BSE
and NSE. Unistone Capital Pvt. Ltd. is the Sole Lead Manager of Share holding post issue: 39,599,800
the issue and Bigshare Services Pvt. Ltd. is the registrar to the Lead Manager : Unistone Capital Pvt Ltd
issue. The revenues and profit after tax of M/s. Saraswati Saree Registrar : Bigshare Services Pvt Ltd
Depot have grown at a CAGR of 9.07% from Rs 2,229.17 in FY
2014 to Rs 4,093.69 in FY 2021 and at a CAGR of 20.34% from
34.51 in FY 2014 to Rs 126.12 in FY 2021, respectively. In
Fiscal 2024 SSDL crossed Rs 6,000 million in sales in Fiscal
2024. SSDL sources sarees from different manufacturers across
India. Over the years, they have developed relationships with
these manufacturers in hubs like Surat, Varanasi, Mau, Madurai,
Dharmavaram, Kolkata, and Bengaluru. They regularly source
sarees and other women's apparel from more than 900 weav-
ers/suppliers across different states in India. SSDL currently
operate from two stores which are located in Kolhapur,
Maharashtra and Ulhasnagar, Maharashtra.
In the year 2002, Saraswati Saree Depot hosted for the first
time a special event known as "Utsav" before the festival of In Fiscal 2024, They have served over 13,000
Diwali, gathering customers from across regions to participate.
unique customers and their product catalogue
Cont... consists of more than 3,00,000 different SKUs
Financial Weekly TM

Product Portfolio Management of Saraswati Saari
Sarees: Shankar Dulhani
- By Occasion: Casual, Wedding, Festive, Party Chairperson and Executive Director
- By Fabric: Silk, Soft Silk, Art Silk, Cotton Silk, Cotton, He has completed high school from Maharashtra
Organza, Georgette, Linen, Nylon Blend State Board of Secondary Education. With over 38
- By Weave: Banarsi, Paithani, Kanjivaram, Maheshwari, years of experience in the apparel industry, he has a
Patola, Handloom, Bomkai, Gadwal, Tanchoi, deep understanding of the saree products and all its facets spanning
from manufacturing to marketing and business development. With
Bandhani, Dharmavaram his knowledge and experience the Company has witnessed con-
- By Pattern: Woven, Printed, Floral, Digital Print, Dyed, tinuous growth. His leadership guides the board in critical decision-
Geometric, Self Design, Solid, Embroidered making processes, strategy formulation, and business development.
- By Ornamentation: Zari, Tassel, Zari Buta, Sequins, Flo- Vinod Dulhani
ral Design, Brocade, Cotton Thread Managing Director and Chief Executive Officer
He has completed his higher secondary education
Other Product Offerings: from Maharashtra State Board. He has over 27 years of
- Kurtis, Dress Materials, Blouse Pieces, Shirt and Pant experience in the apparel industry and is also a sec-
Pieces for men, Lehengas, Bottoms and other ond-generation member in the business of the Com-
- women’s apparel accessories. pany. He is responsible for activities like product development,
business development, operations, and administration. He has
been influential in developing network with weaving houses of
Saraswati Saree Depot Limited (SSDL) is a India and has consistently worked towards building efficiency
key player in sarees wholesale (B2B) seg- across various departments of the business.
ment. SSDL is also engaged in the wholesale Mahesh Dulhani
business of other women’s apparel wear Executive Director
He has completed his higher secondary from
such as kurtis, dress materials, blouse pieces, Maharashtra State Board. He has over 30 years of
lehengas, bottoms, etc experience in the apparel industry. He possess knowl-
edge and experience towards brand creation and management.
He currently looks after Company’s sales operations, manages
customer relations, and oversees the company’s marketing func-
tions. Rajesh Dulhani
Executive Director
He has completed his higher secondary from
Maharashtra State Board. He has over 29 years of
experience in the apparel Industry. He is respon-
sible for the product and procurement functions of the company,
including supply chain management, supplier relations, and prod-
uct quality management.
During Utsav event, exclusive collection of products are pre-

sented with generous special offers made to its loyal customers.
Financial Summary
After consistent success over the years, Utsav event became a Particulars (Rs. in Millions) 2024 2023 2022
permanent fixture of Saraswati Saree Depot's business. During Revenue from Operations 6,109 6,019 5,496
Utsav event, sales for upto 13-15% to the annual revenues are Other Income 17 16 7
recorded. In 2015, SSDL shifted its operations to the newly con-
structed Uchgaon premises at Kolhapur, Maharashtra. The newly Total Income 6,126 6,035 5,503
constructed complex spans over approx. 169,120 sq. ft. area EBITDA 411 341 208
having designated section for different varieties of sarees and PAT 295 230 123
other women's apparel wear within the complex for ease of shop- Equity Share Capital 331 1 1
ping.
The industry is seeing the change in the consumer buying
Other Equity 318 353 123
pattern as customers are seeking quality and premium products. Net Worth 649 354 124
The change in the buying pattern has resulted in players selling Short Term Borrowings 435 414 666
higher priced sarees than the value range sarees. This is ex-
pected to drive the growth for the market in the coming years. Apart from this, entry of organised branded players in the saree market is expected
to drive the growth in the saree market.
Saree industry in India is expected to grow at a 5-6% CAGR over fiscal 2024 to fiscal 2029 reaching Rs 650-675 billion by fiscal 2029. The
organised segment is growing faster than the unorganised segment due to a superior customer experience, reliability of the fabric, standardised
pricing, brand strength and further expansion. It is likely to grow at a CAGR of 9-10% between fiscal 2024 and fiscal 2029 and to constitute 32-
37% of the overall market. The growth can be attributed to the increasing presence of newer organised brands such as Taneria, Navyasa, and
avantra along with traditional organised players like Sai kalamandir, Nalli silk, Pothys.
***
Financial Weekly TM

Scrip Watch - Siddharth Shah
BSE Ltd (Rs 2642.00) :- Shares of BSE Ltd skyrocketed to nearly 11 percent in early
trade on August 8, buoyed by the stock exchange's stellar earnings in the April-June quarter. Record
high EBITDA margins too bolstered the investor sentiment. The company's net profit jumped nearly
four-fold YoY to Rs 265 crore in the June quarter, up from Rs 72.6 crore a year ago on an adjusted
basis. Revenue from operations surged by over 180 percent to Rs 607.7 crore in Q1 of FY25, up
from Rs 215.62 crore in the same period last year. In the previous year's April-June quarter, BSE
reported an exceptional gain of Rs 406.62 crore from the profit on divestment of a five percent stake
in Central Depository Services (India). BSE's Q1 EBITDA margin too swelled to a record high of 47
percent, a sharp expansion from 33 percent in the corresponding period. Brokerage firm Motilal
Oswal Financial Services believes the re-launch of BSE derivatives products has turned out to be
a trend-changing measure. Invest.
Macrotech Developers (Rs 1244.00) : Macrotech Developers reported a net profit of
480 crore in the June quarter, up 186 per cent on year, while revenue rose 76 per cent to ?2,850
crore. Earnings before interest, tax, depreciation, and amortisation came in at 960 crore, more than
double from a year ago. The company, which sells properties under the brand name 'Lodha,' saw
bookings of 4,030 crore in the quarter, up 20 per cent on year, while collections rose 12 per cent at
2,690 crore. During the quarter, the company added three more projects in the Mumbai Metropoli-
tan Region and Pune with a gross development value of ?11,100 crore and had already achieved
more than 50 per cent of its business development guidance for the full year. The company's net
debt was at 4,320 crore at the end of the quarter. Buy. Buy more on decline.
Bajaj Finance (Rs 6619.00) :- SEBI has approved the proposed initial public offering
(IPO) of Bajaj Housing Finance, 100% owned housing finance subsidiary of Bajaj Finance. Bajaj
Housing Finance filed its draft red herring prospectus (DRHP) with SEBI in June For ?7,000 crore
IPO. The IPO will contain fresh issue and offer-for-sale (OFS) both. It includes worth up to ?4,000
crore for fresh issue and up to ?3,000 crore for offer-for-sale (OFS). Bajaj Finance is the only pro-
moter which is selling shares in OFS. The proceeds from the fresh issue will be used to strengthen
Bajaj Housing Finance's capital base. It allows the company to meet future business requirements
for onward lending. Meanwhile, Non-banking finance company Bajaj Finance reported 14 per cent
year-on-year growth in its consolidated net profit to Rs 3,912 crore in the April-June period, helped
by healthy growth in net interest income (NII). NII expanded by 25 per cent year-on-year to Rs
8,365 crore, up from Rs 6,717 crore in the same period of the previous year. The stock will be in
limelight. Buy.
Disclosures : At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm,
his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested
interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based
on & conceived from charts. 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.
Financial Weekly TM

Dr. A. K. Asnani
Smart Verc (Bhopal)
Author of Book
Way to Billionaire
Keep Learning, Keep Investing,

Keep Growing Your Wealth
Building wealth through stock investments is a journey that requires continuous learning and
disciplined investing. By following these principles, you can effectively grow your wealth over time.
Stay Informed
Regularly read business newspapers and magazines such as Economic Times, Business Stan-
dard, Business Line, Business India, and Capital Market. These sources provide valuable insights
into market trends, economic developments, and investment opportunities. For any clarifications
on technical terms, you can use ChatGPT or refer to www.Investopedia.com
Embrace Financial Education
Understanding the basics of stock investing is crucial. Consider taking online courses or attend-
ing workshops on fundamental analysis, valuations, and investment strategies.
Understand Risk Tolerance
Assess your risk tolerance before making investments. Knowing how much risk you are com-
fortable taking will help you choose appropriate investment products and strategies. Remember,
higher returns usually come with higher risks.
Start Small and Simple
New investors can begin their journey with a Systematic Investment Plan (SIP) in an Index
Exchange-Traded Fund (ETF). This approach helps you understand the power of regular savings,
learn about market volatility, and experience the benefits of compounding returns. Index ETFs
track major stock indices, providing a diversified investment and reducing risk compared to indi-
vidual stocks.
Direct Stock Investments
Those interested in direct stock investments can start by investing small amounts in well-estab-
lished companies like L&T, Britannia Industries, and Reliance Industries. Observing how these
stocks move in response to market, sector, and company-specific events can teach you valuable
lessons about market dynamics and investment strategies.
Learn from the Experts
Reading books authored by successful investors, such as Peter Lynch, can provide profound
Financial Weekly TM

insights and strategies for building significant wealth. These authors share their experiences, suc-
cesses, and mistakes, offering a wealth of knowledge to aspiring investors.
Network with Fellow Investors
Join investment clubs or online forums to share insights and learn from the experiences of other
investors. Networking can provide valuable tips, new perspectives, and support throughout your
investment journey.
Consider Professional Advice
If you're unsure where to start or how to manage your investments, consider seeking advice
from a certified financial advisor. They can provide personalized guidance based on your financial
situation and goals.
Stay Updated with Economic Indicators
Keeping an eye on economic indicators such as interest rates, inflation, and GDP growth can
help you make informed investment decisions. These indicators influence market conditions and
can provide insights into future trends. Read the companies' annual reports, media releases, pre-
sentations, and conference call transcripts before they became blue chips.
Diversify Your Portfolio
Diversification is a powerful tool in managing investment risk. By spreading your investments
across different asset classes and sectors, you can mitigate the impact of any single investment's
poor performance on your overall portfolio.
Avoid Repeating Mistakes
Learning from your mistakes is crucial in the investment journey. Analyze your past investment
decisions, identify where you went wrong, and take steps to avoid repeating those mistakes. Con-
tinuous improvement is key to becoming a successful investor.
Aim for Better Returns
Always strive to improve your investment returns relative to broad-based stock indices like the
BSE Sensitive Index or Nifty 50. By setting performance benchmarks, you can gauge the effective-
ness of your investment strategies and make necessary adjustments to enhance your returns.
Conclusion :- The path to wealth creation involves continuous learning, strategic investing,
and disciplined financial management. By staying informed, starting with simple investments, learn-
ing from experts, diversifying your portfolio, avoiding repeated mistakes, and aiming for better re-
turns, you can grow your wealth steadily and securely. Keep learning, keep investing, and watch
your wealth grow.
Happy investing!
Dr. Anil Kumar Asnani : SEBI Reg. Research Analyst
Financial Weekly TM
Tamilnad Mercantile Bank

reports Steller Performance in Q1FY25
Highest Ever Net Profit of Rs. 287 Cr • Highest Ever Operating Profit
Rs, 469 Cr • Highest Ever Interest Income Rs. 1281 Cr • Tamilnad
Mercantile Bank Ltd (TMB) opened 10 New Branches during the Q1FY25
Tamilnad Mercantile Bank Ltd (TMB), hav-

ing its Head Quarter in Thoothukudi has a long- Corporate
cherished history of 102 years of eventful ex-
istence with strong fundamentals and an envi- Feature
able track record of continuous profit making in
the industry. TMB having pan India presence
with 565 branches and 12 Regional Offices
across 17 states and 4 Union Territories serves
more than 5 million delighted customers. The
Board of Directors of Tamilnad Mercantile Bank
Ltd approved the Unaudited Financial Results
of the Quarter Ended June 30,2024 in their meet-
ing held at Thoothukudi on 02.08.2024.
Tamilnad Mercantile Bank Ltd (TMB), one of
the renowned Old Private Sector Banks, has
posted a 10 per cent rise in net profit during the
first quarter of the financial year 2024-25 to Rs
287.3 crore, compared to Rs 261.23 crore. Dur-
ing the quarter, the bank posted its highest-ever
net profit, operating profit, total income, and in-
terest income.
The average advances for the bank have
grown significantly, and the rise in interest in-
come and non-interest income also contributed
majorly to the profit addition," said a source on
terms of anonymity. During the quarter, the
bank's non-interest income grew from Rs 167
crore to Rs 234 crore.
Cont...
Financial Weekly TM
Q-O-Q Performance
Highlights
• The Bank’s deposits has increased to
Rs.49,188 crores (PY Rs. 47,008 crores)
• The advance level of the Bank has in-
creased to Rs.40,853 crores with a
growth rate of 10% as YOY basis.
• The Net Profit is at Rs.287 crores for the
quarter Q1FY25 as against Rs.261
crores for Q1FY24 registering the growth
rate of 10% as YOY basis.
• The Net Interest Income is at Rs.567
Crores for the quarter Q1FY25 as
against
• 514 for Q1FY24 registering a growth rate
of 10%.
• Return on Asset at 1.88% & Return on
Equity at 14.22% for the reporting quar-
ter. (Q1 FY 24 1.85% and 14.80% re-
spectively)
• The Bank’s Net worth increased to
Rs.8,244 crores (PY Rs.7,190 crores)
with an absolute rise of 1054 crores reg-
istering a growth rate of 15%.
Total income has grown 15 per cent to Rs 1,515 Bank’s y-o-y Performance Highlights
crore during the quarter under review, from Rs 1,323 Bank’s Performance Highlights
crore during the same period last fiscal. • Operating Profit has increased to Rs. 469 crore from
Operating profit has increased to Rs 469 crore from Rs. 380 crore Y-o-Y
Rs 380 crore year on year, posting an increase of 23 • Net profit has surged to Rs. 287 crore from Rs. 261
per cent. Net interest margin has increased to 4.12 per crore Y-o-Y
• The NIM has increased to 4.12% from 4.00% Y-o-Y
cent from 4 per cent last year. Interest income has im-
• Interest income has improved to Rs. 1,281 crore
proved to Rs 1,281 crore during the quarter under re- from Rs.1,156 crore Y-o-Y
view, up 11 per cent compared to Rs 1,156 crore dur- • Non Interest Income has improved to Rs.234 crore
ing the first quarter of 2023-24. The bank's net NPA from Rs.167 crore Y-o-Y
were at Rs 261.56 crore, compared to Rs 335.82 crore • Total income has moved to Rs.1,515 crore from
Rs.1,323 crore Y-o-Y
during the same time last year. • The CRAR% has increased to 29.21% from 26.57%
Tamilnad Mercantile Bank Ltd (TMB) opened 10 New Y-o-Y
Branches (6 Branches in Tamilnadu and 4 Branches in • Book Value of Share has increased to Rs. 520 from
Other States) during the Q1FY25. The Bank has Launched Rs.454 Y-o-Y
• Total Business has increased to Rs.90,041 crore
an Online Customer Portal for Foreign Exchange Opera-
from Rs.84,300 crore Y-o-Y
tions facilities to customers. It has Launched “TMB Apart- • CASA has increased to Rs.13,789 crore from
ment Savings Bank Account” for High-NetWorth individu- Rs.13,101 crore Y-o-Y
als residing in apartment / housing society / gated com- • The RAM segment has increased to 92% from 90%
munity. It has launched Online Demat Account opening Y-o-Y
• Total SMA to Gross Advances has reduced to 4.98%
platform for customers. from 7.16% Y-o-Y
• Stressed Assets ratio has decreased to 2.55% from
3.21% Y-o-Y
Financial Weekly TM

Kishore Purswani
Buffettology-XXI
(Return on Shareholders' Equity)
Introduction
Mary Buffett and David Clark in Chapter sixteen of their book titled "Buffettology: The Previously Unex-
plained Techniques That Have Made Warren Buffett the World's Most Famous Investor" have deliberated
upon nine questions that can help an investor to identify a truly excellent business. In the previous articles,
we deliberatedthe firstthreequestionswhich touched upon identifiable Consumer Monopoly, the earnings of
the company. And conservative financing. In this article, we shall deliberate upon the fourth question-Does
the Business Consistently earn a high rate of return onshareholders' equity?
Return on Shareholders' Equity

The rate of return on shareholders' equity (ROE) is a measure of financial performance that calculates
the return generated on the equity invested by shareholders. It is expressed as a percentage and indicates
how effectively a company is using its equity base to generate profits. The formula to calculate ROE is:
ROE= (Net Profit/Share Holder's Equity)*100

For example, if a company has a net income of 15 Crores and shareholders' equity of 100 Crores, the
ROE would be 15%. This means the company generates a 10% return on the equity invested by its share-
holders. A higher ROE indicates more efficient use of equity capital to generate profits.
Warren seeks to invest in companies that consistently earn high returns on shareholders' equity. He
believes that consistently high return on equity is a good indication of strong management and operational
efficiency. Consistently high Return on Equity is often seen as a positive indicator for a company and
companies with consistently high ROE often have a competitive advantage, such as a strong brand, unique
products, superior technology, or economies of scale.Investors might see this as a sign that the company
can reinvest its earnings efficiently to fuel future growth.Companies with high ROE are generally more
attractive to investors because they promise better returns on invested capital
The average Return on Equity (ROE) for companies can vary significantly based on the industry, eco-
nomic conditions, and time period being analysed. Historically, the average ROE for Indian companies
listed on the stock market has generally ranged between 12% and 18%. This can fluctuate based on indus-
try, market cycles, economic conditions, and company performance.
Cont...
Financial Weekly TM

Different sectors exhibit different average ROEs. For instance Banking and Financial Services often
have higher ROEs, sometimes exceeding 15-20%. IT and Technology Companies might have ROEs rang-
ing from 15% to 25% while Manufacturing and Heavy Industries typically have lower ROEs, often between
8% and 15%.
Conclusion
Consistently high Return on Equity (ROE) is often seen as a positive indicator for a company, but it's
important to understand what it might signify in different contexts. While consistently high ROE is generally
a positive indicator, it should be assessed comprehensively alongside other financial metrics and industry
conditions to understand the underlying reasons and sustainability.
Happy Investing!
Kishore Purswani
NOW YOU CAN

ADVERTISE
ON OUR
PLATFORM
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Financial Weekly TM

Market Tips - Het Zaveri
Va Tech Wabag (Rs 1259.00) :- VA Tech Wabag, the Chennai-based desalination and
water treatment solutions company, is confident of building an order book of at least 16000 by the end of the
financial year 2024-25. VA Tech Wabag's status as the preferred bidder in orders worth 6,000 crore driven
by the Middle East, Africa and India region, emphasising that international projects generally offer better
margins, though these can vary depending on the specific project. The company has secured an 85 crore
order from Nama Water Services in Oman to operate and maintain the Al Duqm Desalination Plant for five
years.VA Tech focuses on providing water treatment solutions for municipal and industrial users, as well as
sustainable water solutions to tackle the increasing water scarcity in India and around the world. Accumu-
late.
BASF (Rs 7324.00) : Stocks of BASF extended its rally on Thursday, August 8, 2024 on the back
of stellar numbers in the June quarter of financial year 2025 (Q1FY25). The stock rallied as much as 12.41
per cent to hit a fresh record high of 7,785.40 per share. The company's profit rose 36 per cent year-on-year
(Y-o-Y) to Rs 22.1 crore in Q1FY25, from Rs 16.1 crore in the same quarter last year (Q1FY24). Over the
medium term, stabilisation in key crude oil-linked input prices, which form a major part of the raw material
cost, will help maintain margin at current levels, according to analysts. BASF India Limited, a subsidiary of
BASF SE and headquartered in Navi Mumbai, India, is a prominent chemical solutions provider. Meanwhile,
BASF has given a clear sign towards biotransformation of their (Meth) Acrylate portfolio and switches their
production to bio-based Ethyl Acrylate (EA) starting Q4 2024. Bio-based EA from BASF helps customers
worldwide to reach their sustainability goals.The product offers a PCF reduction of 30% compared to fossil-
based EA. Buy.
Tata Power (Rs 417.00) : Tata Power on August 6 said it is set to acquire a 40 percent stake
in Khorlochhu Hydro Power Limited (KHPL) for Rs 830 crore to develop a 600 MW hydro project in Bhutan.
The company has partnered with Druk Green Power Corporation to develop the hydropower project in
Bhutan at an estimated project cost of Rs 6,900 crore. Its planned capex for this financial year is Rs 20,000
Crore. It is committed to adopting and leading the new and emerging clean energy technologies, including
pumped hydro projects. The company posted net profit of Rs 1,140.97 crore in the same period last year.
Sequentially, net profit increased 13 percent, from Rs 1,045.59 crore reported in the March quarter. Mean-
while, the company said will look at new thermal projects depending on the opportunities and returns. So,
there are opportunities for more growth. Buy.
M&M (Rs 2748.00) : Auto EBIT margin came in at 9.5% vs. 8.8% in Q4FY24 driven by favourable
mix, lower commodity cost and impact of earlier price hikes taking effect. Oder book (OB) stood at 178k
(vs. 220k at end-Q4) with Thar/XUV700/Bolero adding fresh orders to the tune of 5k/8k/6k units/month;
brand Scorpio adding 12k units//month and 55k open bookings for XUV3XO. M&M has guided for mid-high-
teens growth in FY25 based on the favourable response for XUV3XO, expected demand elasticity due to
pricing action on XUV700 models and the upcoming Thar five-door launch. Cancellation rate continued at
10% in Q1FY25, similar to Q4 levels. Meanwhile, Mahindra & Mahindra (M&M) has announced its auto
sales figures for July, with total auto sales edging up by 0.5%, with 66,444 units sold compared to 66,124
units in the same month last year. In the domestic passenger vehicle (PV) segment, M&M achieved a 15%
growth, selling 41,623 units versus 36,205 units year-on-year. On a positive note, M&M's tractor sales
experienced an 8% increase, with 27,209 units sold compared to 25,175 units year-on-year. Buy in phased
manner.
Disclosures : At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm,
his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested
interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based
on & conceived from charts. 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.
Financial Weekly TM

VeerHealth Care Limited on Expansion Mode,
To purchase Additional 27,451 sq. ft. of
Land adjacent to its current plant
Corporate
Feature
VeerHealth has announced its initial expansion plans, which include acquiring an additional 27,451 sq. ft. of
land adjacent to its current manufacturing facility in Vapi, Gujarat. This land acquisition will enable the
establishment of new manufacturing lines compliant with CGMP norms as required by the US FDA
Veerhealth Care Limited, a leading manufacturer of oral care & personal care prod-
ucts, has announced its initial expansion plans, which include acquiring an additional
27,451 sq. ft. of land adjacent to its current manufacturing facility in Vapi, Gujarat.
This land acquisition will enable the establishment of new manufacturing lines compli-
ant with CGMP norms as required by the US FDA, addressing the increasing demand
from the USA, East & North African market. Following the expansion, the total plot
area will be 58,623 sq. ft., combining the existing 31,172 sq. ft. with the newly acquired
27,451 sq. ft. The total constructed area will increase to 90,000 sq. ft., with 60,000 sq.
ft. from the current facility and 30,000 sq. ft. from the new construction.The company
anticipates substantial demand and positive feedback from the USA, East & North
African markets following the initial supply of oral care products. To meet this antici-
pated demand, Veerhealth Care Limited will introduce high-capacity manufacturing
and filling lines in the new facility. Additionally, the new facility will be equipped with
plastic blow molding and injection molding machines, allowing for backward integration
by producing packaging & complementing materials internally.
Financial Weekly TM

This strategic move aims to pro- New facility will provide a comprehensive solution to client requirements and is
vide a comprehensive solution to projected to help Veerhealth Care Limited achieve a revenue target of Rs 100
client requirements and is projected crore over the next 2 to 3 years, with a 10% PAT margin
to help Veerhealth Care Limited
achieve a revenue target of Rs 100
crore over the next 2 to 3 years, with
a 10% PAT margin. Veerhealth Care
Limited is also dedicated to manu-
facturing pure vegetarian, Ayurvedic
herbal products, ensuring natural and
holistic health benefits. All manufac-
turing stages of the company's prod-
ucts will be completed within its own
facilities.Veerhealth Care Limited
specializes in manufacturing of pure
vegetarian toothpaste. Commenting
on the expansion, Managing Direc-
tor of Veerhealth Care Limited said, “We are excited to share that VeerHealth Care Limited is expanding our operations
with the acquisition of an additional 27,451 sq. ft. of land adjacent to our current facility in Vapi, Gujarat. This expansion
will increase our total plot area to 58,623 sq. ft. and our constructed area to 90,000 sq. ft., significantly enhancing our
manufacturing capacity and efficiency. Our new facility will feature CGMP-compliant manufacturing lines as required by
the US FDA to meet the growing demand from the USA, East and North African markets. We are also installing
highcapacity manufacturing and filling lines to support this demand. We will also be incorporating plastic blow molding
and injection molding machines to enable backward integration and internal production of packaging materials. Previ-
ously, our company depended on outsourcing for packaging; however, with this new in-house production capability, our
dependency on external suppliers will decrease. This shift is expected to boost our profitability significantly. We are
aiming to achieve a revenue target of Rs 100 crore over the next 2-3 years, with a 10% PAT margin. Our commitment
to producing pure vegetarian, Ayurvedic herbal products remains steadfast as we continue to strengthen our position in
the healthcare sector.” VeerHealth Care Limited (BSE – 511523) is involved in the business of manufacturing and supply
of Ayurvedic medicines, oral care products & personal care products. All its finished formulations are manufactured in
their own state-of-the-art manufacturing facility at Vapi, Gujarat designed to comply with international requirements with
validated systems. The Company produces Intensive researchbased quality products with Expert guidance and enor-
mous experience of renowned Vaidya of Mumbai, Dr. Vinod C. Mehta, an Ayurvedic Practitioner for 30 years and Dr.
Rajiv Bhirud, an expert in formulations of cosmetic and personal care products. Some of its products are Health Care,
Oral Care & Personal Care products like Shampoos, Conditioners, Lipbalm, Creams, Scrubs, Bath Salts, Shower Gels,
Lotions, Ayurvedic & Cosmetic Toothpaste & much more under Ayurvedic & Cosmetic License. Manufacturing Certifi-
cations: Ayurvedic Mfg. License, Ayurvedic GMP, Cosmetic Mfg. License, Cosmetic GMP, ISO 9001: 2015, Autho-
rized Economic Operator T1 Certificate (Exporter), Certification of Registration US FDA Labeler Code. In FY24, Com-
pany reported Total Revenue of Rs 14.61 Crore, Profit
before tax of Rs 1.28 Crore.
Meanwhile, the company has secured a repeat
order in the hair care category from one of the leading
corporate healthcare companies, which is an existing
client since long. The name of the entity awarding the
order remains undisclosed as per the terms of the
Non-Disclosure Agreement. This order has been
awarded by a domestic entity and involves the manu-
facture and supply of hair care products, with a stipu-
lated execution period of 60 days. The broad consid-
eration for this order is 121 Lakhs. In addition to this,
Company is expecting more such repeat orders from
this existing client. Earlier, VeerHealthcare announced
that it received an additional export order worth $
106,673 (approximately ?89 Lakhs) from a top insti-
The company anticipates substantial demand and tutional supplier in the United States & another order
positive feedback from the USA, East & North African worth of $ 180,000 (Rs 150 Lakhs) from this USA
markets following the initial supply of oral care products buyer.
***
Financial Weekly TM

SMART TIPS Smita N. Zaveri
PCB (Rs 395.00) (Code: 506590) :- This company was previously known as Phillips Carbon Black but is
now recognized as PCBL. The company operates plants in Durgapur, Palej, Cochin, and Mundra. It is the largest carbon
black producer in India and the seventh-largest in the world. The company has an equity capital of Rs 38 crores and
reserves of Rs 3209 crores. In the March quarter, the company's revenue increased from Rs 1374 crores to Rs 1929
crores, and its profit grew from Rs 102 crores to Rs 111 crores. Operating profit rose from Rs 184 crores to Rs 310 crores
during the same period. For the financial year 2024, the company achieved revenue of Rs 6420 crores, an operating
profit of Rs 1037 crores, and a net profit of Rs 491 crores. At the current price, this stock is trading at a P/E of 29. Listed
in the A group on BSE, the company's share has a face value of Rs 1. Over the year, the share price ranged between Rs
380 and Rs 151.4. At present, the company's market cap is Rs 14228 crores. Promoters hold a 51.41% stake, while the
public holds 48.59%. The company consistently pays substantial dividends to its shareholders. For the financial year
2022, the company paid an attractive dividend of Rs 10 per share. After splitting the Rs 2 share into Rs 1, the company
paid a dividend of Rs 5.5 for the financial year 2023. It has also paid an interim dividend of Rs 5.5 for the financial year
2024. The company will announce its June quarter results on August 8.
LT Foods (Rs 304.00) (Code: 132783) :- This A group company operates in the packaged food sector. The
share has a face value of Rs 1, with its price ranging between Rs 315 and Rs 146 over 52 weeks. The company is
involved in milling, processing, and marketing branded and non-branded Basmati rice. It produces and sells rice in both
domestic and overseas markets. Besides India, the company supplies extensively to North America and 65 other
countries worldwide. Its prestigious brands include Daawat, Gold Seal, India Valley, Rozana, and 817 Elephant. The
Daawat brand holds a 22% market share. With a diversified portfolio, the company has formed a joint venture with
Kamdhenu, a leading Japanese snack food company. LT Foods has launched snacks under the name Kari-Kari. The
company is focusing more on its high-margin Daawat brands and is making efforts to expand business, especially in
Europe. Promoters hold 56.81% of the company, and the public holds 43.19%. The company has a market cap of Rs
10573 crores, and its book value is Rs 97.09. On February 7, 2017, the company split its Rs 10 face value shares into
Rs 1 face value shares. Equity is Rs 34 crores, while reserves amount to Rs 2722 crores. For the quarter ending June
30, 2024, the company reported a 16.45% increase in revenue to Rs 2070.51 crores and an 11.45% rise in net profit to
Rs 153.17 crores, with an EPS of 4.41. In the same quarter last year, the company had reported revenue of Rs 1778.08
crores and a net profit of Rs 137.44 crores. The stock can be bought with a stop loss of Rs 244, targeting Rs 387 in 3 to
4 quarters.
GMRAirport (Rs 96.00) (Code: 532754) :- Listed in the A group on BSE, this company's share has a face
value of Rs 1. Over the year, the share price ranged between Rs 104 and Rs 51. At present, the company's market cap
is Rs 104206 crores. Promoters hold a 59.07% stake, FIIs hold 28.01%, DIIs hold 4.28%, and the public holds 40.93%.
This company emerged from GMR Infrastructure as a separate entity focusing on the airport business, while the infra-
structure and power business shifted to another company. GMRAirport manages various airports, including Delhi,
Hyderabad, and Goa in India, and airports abroad. The company has equity capital of Rs 603 crores. For the quarter
ending March 31, 2024, the company reported a consolidated revenue of Rs 2570 crores and a loss of Rs 205 crores,
compared to revenue of Rs 2001 crores and a loss of Rs 683 crores in the same period last year. GMRAirport is
transforming from a utility-focused entity to a retail-driven player, capitalizing on strong air traffic growth, travel retail
opportunities, increases in air tariffs, and real estate development. The company's EBITDA is expected to grow at a
32% CAGR between FY24 and FY27. GMRAirport is also finalizing the merger with GMR. Currently, the stock is trading
near its 52-week high and may set a new top in the short term.
Suzlon (Rs 73.00) (Code: 532667) :- This stock has seen a strong rally over the last 6-8 months, more than
quadrupling from its low in just 6 months. Listed in the A group on BSE, the company's share has a face value of Rs 2.
Over the year, the share price ranged between Rs 73 and Rs 18. At present, the company's market cap is Rs 99456
crores. Suzlon Group holds a leading position in the renewable energy sector. The company has installed approximately
20 GW of wind energy capacity across 17 countries. Headquartered in Pune, the company has R&D and manufacturing
facilities in Germany, the Netherlands, Denmark, and India. In India, it is the largest provider of wind energy services,
having installed 13.9 GW of capacity domestically and 5 GW abroad. The company's equity is Rs 2254.62 crores.
Promoters hold a 13.28% stake, FIIs hold 10.86%, DIIs hold 10.90%, and the public holds 64.93%. For the quarter
ending June 30, 2024, the company reported consolidated revenue of Rs 2044 crores and a net profit of Rs 302 crores,
compared to revenue of Rs 1361 crores and a net profit of Rs 100 crores in the same quarter last year. The wind energy
sector is expected to present significant opportunities in the near future. The company has indicated a positive outlook
in its presentations and commentaries, and being a market leader, it is well-positioned to perform well. The stock has
seen a strong rally, but can still be considered for accumulation at lower levels.
* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month • All stocks rates / indices on
9th August, 2024 unless specified 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 TM

GRM Overseas Ltd; CMP - Rs. 217; BSE: 531449 NSE: GRMOVER
Expands Its Global Presence Through
Partnership with Solariz Invest in Morocco
Corporate SCAN
GRM Overseas Ltd. (BSE: 531449, NSE:
GRMOVER), a renowned Indian exporter of
basmati rice and a key player in the FMCG sec-
tor, announces a strategic partnership with Solariz
Invest in Morocco. This collaboration represents
a pivotal moment in GRM's global expansion ef-
forts, as it introduces its flagship basmati rice
brand 'Tanoush' to Moroccan consumers via
Solariz Invest's wide-reaching distribution net-
work. 'Tanoush' will be offered in 1kg and 5kg
Packs.
According to the agreement, Solariz Invest will
act as the exclusive distributor of GRM Overseas
products in Morocco. With a robust presence and proven capabilities in the region, Solariz Invest is
well-equipped to boost GRM's market penetration and enhance its brand visibility.
Mr. Atul Garg, Chairman & MD of GRM Overseas, commented, "Our partnership with Solariz Invest
is a strategic move to bolster our global footprint. Leveraging Solariz Invest's robust distribution net-
work and local expertise, we aim to deepen our penetration in Morocco. This collaboration under-
scores our commitment to expanding our international presence and delivering premium quality prod-
ucts to consumers."
The collaboration with Solariz Invest in Morocco exemplifies GRM's strategic vision to expand into
new markets, enhance brand visibility, and foster sustainable growth through impactful partnerships.
The board also approved the allotment of 90,70,000 Convertible Warrants at a price of Rs.150/-
(Rupees One Hundred and Fifty Only) including the Warrant Subscription Price and the Warrant Exer-
cise Price aggregating up to Rs. 136.05 Cr.
Recently, the company has launched "Gulistan Kachi Ghani Mustard Oil" under its 10X brand port-
folio. The mustard oil pack which comes in 1L bottles and 5L Jars will be available across the country.
The launch of Gulistan Kachi Ghani Mustard Oil is a part of GRM Overseas' aim to strengthen product
offerings of its subsidiary GRM Foodkraft Private Limited (GFK).
The branded Mustard oil retail market is expected to grow at a CAGR of 11% in the next five years.
The key factors driving the demand for mustard oil in India include the shift towards unrefined oils for
their associated health benefits, leading to strongly surging demand from both urban and rural regions.
Founded in 1974, GRM has evolved from a rice processing and trading house to a leading player in
the global consumer staples market. With operations spanning 42 countries, GRM is recognized as
India's third largest rice exporter. The company operates three state-of-the-art rice processing units
and a 1.75 lakh sq ft warehousing facility, ensuring efficient operations from ports in Kandla and Mundra.
GRM's product portfolio includes renowned brands such as "10X", "Himalaya River", and "Tanoush",
alongside private label offerings tailored to customer preferences. Committed to stringent quality stan-
dards, GRM focuses on sustainable practices that support local farming communities and ensure product
excellence
***
Financial Weekly TM

Smart super duper - Het Zaveri
Schneider Ele. (Rs 833.00) (Code: 534139) : The face value of the shares of this company listed in
the BSE in Group A is Rs 2. Over the year, the share price has increased to Rs 980 and decreased to Rs
286.35. At the current price, the company's market cap is Rs 19,946 crores. The company's stake distribution
is: promoters 75%, DII 2.76%, FII 1.96%, and public 20.27%. The company's equity is Rs 48 crores. In the
June quarter, the company’s revenue increased from Rs 495 crores to Rs 593 crores, and the company
achieved a profit of Rs 48 crores against a profit of Rs 35 crores previously. During this quarter, the company’s
operating profit increased from Rs 49 crores to Rs 82 crores. The company has been consistently profitable
for the past 11 quarters, which is a positive sign, and on a TTM basis, the company has shown its best
performance ever. In the financial year 2024, the company's revenue increased from Rs 1,777 crores to Rs
2,207 crores, and the profit increased from Rs 124 crores to Rs 172 crores. The company achieved an EPS of
Rs 7.19 over 12 months. This company is an MNC and is particularly active in the capital goods sector, which
is witnessing large-scale revival and this is reflected in the company’s results. The sector's shares are seeing
significant growth, and this stock can also be considered in any decline. The company’s ROI is 96.6% and
ROC is 38.5%.
Delhivery (Rs 398.00) (Code: 543529) : This company is a logistics company. It had its IPO in May
2022, offering shares at Rs 487. After listing, the share price rose to Rs 708.45 but over the year, the price
increased to Rs 488.05 and decreased to Rs 354.5. At the current price, the company's market cap is Rs
29,460 crores. Since listing, the company has FII holding of 61.16%, DII 22.03%, and public 16.81%. The
company operates delivery services across 88.3% of the country, i.e., 19,300 pin codes. The services include
express parcel delivery, heavy goods delivery, PTL freight, TL freight, warehousing, supply chain solutions,
cross-border express, freight services, and supply chain software. This company is a startup with no promot-
ers. The company was making losses, and in the June quarter, its revenue increased from Rs 1,930 crores to
Rs 2,172 crores, and the company made a profit of Rs 54 crores against a loss of Rs 89 crores. During this
quarter, the operating loss decreased from Rs 13 crores to an operating profit of Rs 96 crores. The sector has
a bright future, and even though the stock traded above its IPO price after listing, it has seen a strong time-
wise correction recently, making it attractive from a long-term perspective.
Mayur Uniquoters (Rs 664.00) (Code: 522249) : Listed in the BSE in Group A, this company is part
of the BSE Smallcap Index. The face value of the shares is Rs 1. Over the year, the share price increased to
Rs 998 and decreased to Rs 454. At the current price, the company's market cap is Rs 2,922 crores. The
company’s stake distribution is: promoters 58.52%, FII 3.28%, DII 3.97%, and public 34.24%. In the June
quarter, the company's revenue increased from Rs 201 crores to Rs 213 crores. Operating profit increased
from Rs 39 crores to Rs 48 crores, while net profit increased from Rs 31 crores to Rs 37 crores. The company
achieved an EPS of Rs 8.50 in the June quarter. For the financial year 2024, the company’s revenue in-
creased from Rs 776 crores to Rs 803 crores. Operating profit increased from Rs 139 crores to Rs 159 crores,
while net profit increased from Rs 104 crores to Rs 122 crores. The company achieved an EPS of Rs 27.86 in
the financial year 2024. The company’s equity is Rs 22 crores, with reserves of Rs 845 crores. The company
is debt-free and has an investment of Rs 186 crores on its books. It supplies products to sectors like automo-
tive, footwear, furnishing, leather goods, and garments. The company has two plants in Jaipur and one in
Morena, Madhya Pradesh. The company has been showing steady growth for a long time, and any decline
could be an opportunity for investment.
Avanti Feeds (Rs 772.00) (Code: 512573) : Avanti Feeds is a leading exporter of seafood in the
country. The company has a joint venture with Thailand’s largest frozen product company, Thai Union Frozen
Products PLC. The company exports shrimp, fish, and other seafood. It has units in Andhra Pradesh and
Valsad. The company’s equity is Rs 14 crores, with reserves of Rs 2,352 crores. The company's stake distri-
bution is: promoters 43.23% and public 56.77%. Listed in the BSE in Group A, the face value of the shares is
Rs 1. Over the year, the share price increased to Rs 791.1 and decreased to Rs 384.3. At the current price,
the company's market cap is Rs 10,528 crores. In the June quarter, the company's revenue decreased from
Rs 1,554 crores to Rs 1,504 crores, while the profit increased from Rs 115 crores to Rs 138 crores. For the
financial year 2024, the company’s revenue increased from Rs 5,087 crores to Rs 5,369 crores, and the profit
increased from Rs 312 crores to Rs 394 crores. The company achieved an EPS of Rs 26.21 over 12 months,
making the current price attractive. The company exports 100% of its products, and its margins are continually
improving. The company’s ROI is 15.1%, and its ROC is 20%. The book value of the shares is Rs 174. At the
current price, the stock is quoted at a PE of 27.8.
Disclosures : At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the
securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived from charts. 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.
Financial Weekly TM

A.J. Diwan (Mumbai)
Diwan-E-Khas
There is a lot of chaos in the stock market

Once it was thought that Nifty would take support from the level of 24350 but last Thurs-
day it broke this level and closed at 24180 and on Friday it closed at 24367. RBI also did not
change the repo rate for the last nine times. Due to food inflation in India, Geopolitical
reasons, storm in Bangladesh, the Prime Minister had to leave his own country and take
refuge in India, but India is now keeping him for how many days.
The economy in the US is also bad. The Dow Jones improved by 600 points on Thursday,
so it remained positive on Friday as well. Nifty has a low support of 23900 and can go up to
24450. A sell-off may occur around 24550. Intraday trading in Nifty can prove to be risky in
the current environment.
Asian Paints and Tata Chemicals will continue their selling streak. Another is selling
organization in Apollo Tires. Investing in Tata Motors and Tata Power in a falling market.
Tata Steel is also likely to exit at a lower price. Insurance stocks can be bought only if they
give a discount on the 18 percent GST. A reduced investment in lupine can be beneficial. A
foreign institution is gradually accumulating shares in Piramal. Large cap stocks Reliance or
ITC can get good returns. If the price falls, it becomes imperative to invest for the long term.
Trading in the stock market without caution or stop loss is like driving a car without brakes.
Financial Weekly TM

Investment Ideas Nayan Patel
Murudeshwar Ceramics Ltd

BSE CODE - 515037 & NSE SYMBOL - MURUDCERA
Rs.54 FV.Rs.10
Murudeshwar Ceramics Limited is the pioneer in manufacturing world class Vitrified tiles and
Ceramic tiles under the brand name "NAVEEN". Murudeshwar Ceramics Limited is in this position
today because of its knowledge of the manufacturing standards, its experience in applying the
standards to a wide variety of products in the tile industry, and its thorough understanding of spe-
cialized components of the production.
The 'Naveen Diamontile' tiles of various sizes, colors, designs are displayed in over 73
Company owned showrooms all over India. Apart from "A" Grade cities, showrooms have
also been opened in "B" and "C" grade cities. In order to meet the immediate requirements,
Company store the products in 42 depots in different regions.

It has an equity base of Rs.60.55 crore that is supported by reserves of around Rs.305 crore.
The Promoters hold 73.94% & HNISs hold 7.26% including Sangeetha S hold 1.90% stake in the
company. Book value is Rs.60& its 52 weeks high is Rs.71. During Q1FY25, it posted 78% higher
PAT of Rs.2.01 cr. on higher sales of Rs.43.47 cr. During FY24, it reported PAT of Rs.5.24 cr. on
sales of Rs.186.31 cr.
Investors can watch MURUDCERA.
STEEL CITY SECURITIES LTD - Listed at NSE only

NSE SYMBOL - STEELCITY Rs.94.60 Face Value Rs.10
Since 1995 Steel City Securities Limited is leading in retail stock broking in Southern India.
Company is the pioneers and prime leaders in introducing the Franchisee model to extend its
business potential in urban and rural areas of Andhra Pradesh. Company also has business op-
erations in Tamil Nadu, Karnataka, Orissa, Chattisgarh&Maharashtra .
In 2004 Steel City Commodities (P) Ltd. has become the subsidiary of parent company to
provide a business platform to trade in Commodity market segment. Company has foot
print of more than 430+ locations (70 branches and 360 sub-brokers) across India with 1600+
terminal licenses being connected to the Central Location.
It has an equity base of just Rs.15.11 cr. & price to book value ratio stood at just 1 is very attrac-
Cont...
Financial Weekly TM

tive. Company decided to business development plan to expand the E Governace business. Steel
City Securities is reduced the debt & now almost debt free company from the booming broking
&EGovernance field listed only at the NSE is available of PE of just 12 and has paid hefty divi-
dends regularly.
Promoters have raised their stake by 7.27%. In last few days Angel One & ICICI Sec.,posted
superb results for March qtr. & June quarter. For Q1FY25 Steelcityalso posted EPS of Rs
2.81 against EPS of Rs 1.43 in Q1FY24 showing 96.5% increase in profits.
The booming stock markets augur well for its future. Likely to cross its 52 weeks high is
Rs.109.7. For FY24, Steelcityposted EPS of Rs.7.80. & company already paid two interim
dividends and 1 final dividend i.e paid 30% dividend. Company has very healthy dividend
yield.
Investors can watch steelcity.
Disclaimer : Investing in equity is very risky. Our recommendations are based on reliable &
authenticated sources believed to be true & correct & 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 finan-
cial losses made by anybody. Consult your financial advisor before taking any position.
Chart Check
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Financial Weekly TM

Primary Market - Dilip K. Shah
This week, a total of 12 issues, including 1 Mainboard,

6 SME, and 5 Rights issues, are present in the market
Saraswati Saree Mainboard IPO with a price range of 1 to 160 on will open on August 12 and close on August 14
Ola Electric IPOs witnessed 20% surge post-listing, making investors wealthy
Ceigall India Mainboard IPO closed at a discount price after listing at a 4.49% premium
Aesthetik Engg. NSE SME IPO, with a price range of 55 to 58, opened on August 8
NSE SME Positron Energy IPO with a price range of 38 to 50 will open on August 17
Sunlite Recycling with a price range of 100 to 106 will open on August 17
Solve Plastic NSE SME IPO, valued at 11.85 crore, will open at a fixed price of 1.91 on August 13 and close on August 16
BSE SME Broach Lifecare IPO, valued at 4.02 crore with a fixed price of 1.25, will open on August 13
SME IPO Blockbuster Listings
Rajputana and Afcom had 90% premium listings, while Sathlokhar had an 86% premium listing
Akums Drugs Mainboard IPO had a 6.77% premium at listing, and currently, the share has given 18% return.
SME IPOs received strong responses from investors: Afcom 303x, Picture 267x, and Dhariwala 174x subscription
- Saraswati Saree's Mainboard IPO listing will be in the T group; when and
how will the allotment listing be
- SME listing: Dhariwala had a 41% premium, Ashapura 28%, Blukcorp 24%,
and Picture Post 15% premium
- Kizi Apparels NSE SME IPO listed with a 10.24% premium, and Utssav CL
with only a 0.05% premium.
- Brace Port Logistics NSE SME IPO of 30,51,200 equity shares will open on
August 19 and close on August 21.
- How and when be the allotment and listing of Unicommrece and First Cry
IPOs
- This week, 5 Rights issues in the market, including GACM, Tata Consumer,
Nirman Agri, Vishvaprabha, and Swiss Military
- Chemmanur Credit had a base issue of 40 crore which was subscribed 1.04
times and closed on August 8.
- JSW Star is preparing to issue NCDs for 2500 crore Capex plans
- Vishal Mega Mart and other three companies' documents were returned
by SEBI
- Bajaj Housing Finance and Bazaar Style Retail (BSR) IPOs have been ap-
proved by SEBI
Cont...
Financial Weekly TM

Main - line IPO (Non SME)
Sr Company Issue Open Dt. Issue size Offer price Lead Manager Rating & Remark
Issue Close Dt. (Rs. Cr.) (Rs.) (Out of 50%)
1. Saraswati 12-8-2024 Fresh : 64,99,800 Sh. 152 to 160 Unistone Capital 36%
Saree Depot 14-8-2024 OFS : 35,01,000 Sh. FV Rs 10 Registrar : Bighsare Services Apply for
Total : 1,00,00,800 Sh. Medium Term
Total Size : Rs 160.01 Cr
NSE SME IPO

Sr Company Open Dt. Issue size Offer price Minimum Lead Rating Remark
Close Dt. (Rs. Cr.) (Rs.) Applications Size Manager (Out of 50%) %
1 Aesthetik 8-8-2024 45,64,000 Shares 55 to 58 2000 Shares Narnolia 36%
Engg. 12-8-2024 Rs 26.47 Cr FV Rs 10 Rs 1,16,000 Financial Apply for Medium Term
2 Positron 12-8-2024 20,48,400 Shares 238 to 250 600 Shares Beeline 37%
Energy 14-8-2024 Rs 51.21 Cr FV Rs 10 Rs 1,50,000 Capital Apply for Medium Term
3 Sunlite 12-8-2024 28,80,000 Shares 100 to 105 1200 Shares Hem 34%
Recycling 14-8-2024 Rs 30.24 Cr FV Rs 10 Rs 1,26,000 Securities Apply for Long Term
4 Solve 13-8-2024 13,02,000 Shares 91 1200 Shares Finshore 33%
Plastic 16-8-2024 Rs 11.85 Cr FV Rs 10 Rs 1,09,200 Management Apply for Long Term
5 Brace Port 19-8-2024 30,51,200 Shares -- -- Holani Next Week
Logistics 21-8-2024 Rs -- Cr FV Rs 10 -- Consultants
BSE SME IPO

Sr Company Open Dt. Issue size Offer price Minimum Lead Rating Remark
Close Dt. (Rs. Cr.) (Rs.) Applications Size Manager (Out of 50%) %
1 Broach 13-8-2024 16,08,000 Shares 25 6000 Shares Fedex 32%
Lifecare 16-8-2024 Rs 4.02 Cr FV Rs 10 Rs 1,50,000 Securities Apply for Very Long Period
Rights Issue
Sr Company Issue Open Dt. Issue size Offer price Ratio & Listing Lead Manager/ Recomm.
Issue Close Dt. (Rs. Cr.) (Rs.) Record Dt. Registrar
1. GACM 31-7-2024 34,02,87,057 1 1 Shares for every NSE -- Avoid
Technologies to Shares FV Rs 1 1 shares held on BSE Registrar
14-8-2024 Rs 34.03 Cr 16-7-2024 Venture Capital
2. Tata 5-8-2024 3,66,47,492 818 1 Shares for every NSE -- Apply for
Consumer to Shares FV Rs 1 26 shares held on BSE Registrar more than
Products 19-8-2024 Rs 2997.76 Cr 27-7-2024 -- entitlement
3. Nirma Agri 5-8-2024 20,49,025 239 11 Shares for every NSE -- Apply for
Genetics to Shares FV Rs 10 32 shares held on Registrar Long Term
23-8-2024 Rs 48.97 Cr 29-7-2024
4. V ishvprabha 19-8-2024 14,03,182 32 9 Shares for every NSE -- Next Week
Ventures to Shares FV Rs 10 11 shares held on BSE Registrar
2-9-2024 Rs 4.49 Cr 7-8-2024 Link Intime India
5. Swiss 23-8-2024 3,93,18,798 12.50 1 Shares for every NSE -- Next Week
Military to Shares FV Rs 2 5 shares held on BSE Registrar
6-9-2024 Rs 49.15 Cr 9-8-2024 --
Subscription Figure of Firsty Cry Subscription Figure of Ola Electric

No. Shares Issue Subscribed No. Shares Issue Subscribed
Offered/ Offered/
Reserved 6-8-24 7-8-24 8-8-24 Reserved 2-8-24 5-8-24 6-8-24
QIB 2,70,36,953 0.00x 0.03x 19.30x QIB 24,23,70,750 0.00x 0.42x 5.53x
HNI 1,35,18,476 0.08x 0.30x 4.68x HNI 12,11,85,387 0.22x 1.17x 2.51x
Retail 90,12,317 0.48x 1.07x 2.31x Retail 8,07,90,252 1.70x 3.05x 4.05x
Empl. 71,258 1.86x 3.47x 6.57x Emp. 7,97,101 5.42x 9.72x 12.38
Total 9,01,94,432 0.11 0.30x 12.22x Total 80,86,99,625 0.38x 1.12 4.45
Cont...
Financial Weekly TM

Grey Market Premium / Kostak / Subject to Prices
IPOs Name Lot Size Offer Price Premium Kostak Price Subject to
Name (Shares) (Rs.) (Rs.) *Min. Appl. Sauda
Main Line IPOs

Brainbees (First Cry) IPO 32 440 to 445 62 to 64 800 1,200
Small HNI 20,000
BIg HNI 2,500 20,000
Unicommerce eSolutions IPO 138 102 to 108 58 to 60 300 6,000
Small HNI 85,000
BIg HNI 1,800 85,000
Saraswati Saree Depot IPO 90 152 to 160 38 to 40 3,200
Small HNI 40,000
Big HNI 40,000
SME IPOs
Aesthetik Engineers NSE SME 2000 55 to 58 24 to 25 38,000
Positron Energy NSE SME 600 238 to 250 119 to 120 55,000
Sunlite Recycling NSE SME 1200 100 to 105 19 to 20 18,000
Broach Lifecare HospitalBSE SME 6000 25.00 7 to 8 24,000
Solve Plastic NSE SMe 1200 91 19 to 20 20,000
Braceport Logistics NSE SME - - - - -
Don't subscribe IPO only on the basis of Grey premium. Before Investing check the fundamentals of IPO
Subscription Figures of SME IPO (Dt. 9-8-2024)

IPO Listing Day Subscribed
Afcom Holdings BSE SME Issue Closed on 6-8-2024 303.03x
Picture Post Studios NSE SME Issue Closed on 6-8-2024 266.60x
Aesthetik Engneers NSE SME 2nd Day Subscribed 52.07x
Positron Energy NSE SME Issue Opens on 12-8-2024 --
Sunlite Recycling NSE SME Issue Opens on 12-8-2024 -
Broach Lifecare BSE SME Issue Opens on 13-8-2024 --
Solve Plastic NSE SME Issue Opens on 13-8-2024 --
Braceport Logistics NSE SME Issue Opens on --
Cont...
Financial Weekly TM

Tentative Timetable for SME & Main Line IPOs
IPOs Name Issue Basis Refund/ Credit of Listing
Closes of Unblock Shares Date
Date Allotment Amount to Demat
Main Line IPOs
Saraswati Saree Depot IPO 14-8-2024 16-8-2024 19-8-2024 19-8-2024 20-8-2024
SME IPOs
Aesthetik Engneers NSE SME 12-8-24 13-8-24 14-8-24 14-8-24 16-8-24
Positron Energy NSE SME 14-8-24 16-8-24 19-8-24 19-8-24 20-8-24
Sunlite Recycling NSE SME 14-8-24 16-8-24 19-8-24 19-8-24 20-8-24
Broach Lifecare Hospital BSE SME 16-8-24 19-8-24 20-8-24 20-8-24 21-8-24
Solve Plastic NSE SME 16-8-24 19-8-24 20-8-24 20-8-24 21-8-24
Subscription figure of
Saraswati Saree Depot Subscription Figure of Unicommerce
No. Shares Issue Subscribed
Chemmanur Credits
Application Shares Amount
(Rs) Offered/ Category No. of Bond Issue
Retail (Min) 90 14,400 Reserved 6-8-24 7-8-24 8-8-24 (Issue Closed on Offered/ Subscribed
Retail (Max) 1170 1,87,200 8-9-2024) Reserved 8-8-2024
QIB 76,82,554 0.00x 0.80x 138.75x
S-HNI (Min) 1,260 2,01,600
HNI 38,41,276 2.27x 19.53x 252.46x Institutional 40,000 0.00x
S-HNI (Max) 6,210 9,93,600
B-HNI (Min) 6,300 10,08,000 Retail 25,60,851 10.24x 35.80x 130.99x Non Inst. 1,60,000 1.41x
Total 2,56,08,512 2.48x 12.27x 168.35x Retail 2,00,000 2.36x
Total 4,00,000 1.74x
Listing Information of SME & Main Line IPOs

Co. Name Listing Code Offer Listing Listing Listing Listing CMP
Date Price Price Day Day Day 7th
(Rs.) (Rs.) High Low Close March
Shathlokhar E&C (NSE SME) 6-8-2024 SSEGL 140.00 260.00 260.00 247.00 247.00 257.90
Bulkcorp Intl. (NSE SME) 6-8-2024 BULKCORP 105.00 130.00 136.50 130.00 136.50 129.00
Rajputana Ind. (NSE SME) 6-8-2024 RAJINDLTD 38.00 72.20 75.80 72.20 75.80 87.65
Ashapura Log. (NSE SME) 6-8-2024 ASHALOG 144.00 185.00 194.25 175.75 175.75 162.00
Akums Drugs (IPO) 6-8-2024 544222 679.00 725.00 797.45 724.50 796.35 803.00
KIZI Apparels (NSE SME) 6-8-2024 544221 21.00 23.15 24.30 24.30 24.30 23.71
Utssav Cz Gold (NSE SME) 7-8-2024 UTSSAV 110.00 110.05 115.55 110.5 115.55 127.35
Dhariwala (NSE SME) 8-8-2024 DHARIWAL 106.00 150.00 152.00 142.50 142.50 136.20
Ceigalla (IPO) 8-8-2024 544223 401.00 419.00 424.80 383.25 386.75 396.00
OLA Electric (IPO) 9-8-2024 544225 76.00 75.99 91.18 75.99 91.18 91.18
Afcom Hold. (BSE SME) 9-8-2024 544224 108.00 205.20 215.45 205.20 215.45 215.45
Picture Post (NSE SME) 9-8-2024 PPSL 24.00 30.00 31.50 28.50 31.50 31.50
Cont...
Financial Weekly TM

Grey Market Movement
Last Week, a dozen IPOs Listed: Strong Returns in SME Compared to Mainboard
A total of 12 counters including three mainboard and six SME IPOs are active in the grey market
The grey market showed potential returns of 15-20% for FirstCry, 50-60% for Unicommerce
A rapid increase in premium prices for Saraswati Saree within two days
In the SME segment, Aesthetik and Positron Energy IPOs
have potential listing gains of 40-50%
Sunlite Recycling could see 28-30%, and
Broach and Solve are expected to yield 15-20% returns
During the past week, a dozen companies had their IPOs listed in the primary market, with three
on the mainboard and nine in the SME segment. Although the mainboard IPOs saw modest pre-
mium listings, most SME IPOs provided bumper returns to investors, maintaining investor interest
in SME IPOs.
This week, three mainboard and approximately six SME IPOs remain active in the grey market.
The heavy volatility in the secondary market last week affected grey market premiums, creating a
chaotic environment. Notably, Ola Electric's IPO saw discounts in the grey market in the last days,
but after listing, the stock hit a 20% upper circuit, boosting investor enthusiasm.
* Mainboard IPOs:
• FirstCry : Initially, the grey market premium for FirstCry dropped to 45, but it has since re-
bounded to around 62-64, with an expected listing return of 15-20%.
• Unicommerce e-Solutions : Priced at 138, the premium initially fell to 45-48 but has now
surged to 58-60, with a possible listing gain of 45-48%. Notably, this IPO was oversubscribed 168
times.
• Saraswati Saree Depot : Starting at a 21-22 premium on the grey market, the premium doubled
in the last two days to 38-40. With an offer size of just 190 crore, this IPO will list in the T-group.
Investors could expect a 25-35% return upon listing, with potential for further premium increases in
the final days.
* SME IPOs
Currently, around six SME IPOs are active in the grey market. Unlike previous listings, there is
almost no chance of these IPOs listing at a 90% premium.
Given the current market conditions, Aesthetik Engineering and Positron Energy IPOs could
see 40-50% listing gains, while Sunlite Recycling might achieve 25-30%, and Broach Lifecare and
Solve Plastic could list with a 15-25% premium. There is no activity yet for BracePort Logistics on
the NSE SME IPO.
Cont...
Financial Weekly TM

Last week, there were four Mainboard IPOs in the market. Out of these, Ceigall India and
Ola Electric have already been listed, while First Cry and Unicommerce e-Solutions were
fully subscribed and closed on August 8. Additionally, three SME IPOs, namely Dhariwal
Corp, Picture Post (NSE SME), and Afcom Holdings (BSE SME), have been listed.
In total, 12 issues were listed last week, comprising three Mainboard IPOs and nine SME
IPOs. Among the Mainboard IPOs, Ceigall India listed with a 4.49% premium, Akums Drugs
with a 6.77% premium, and Ola Electric was listed at the offer price.
For the SME IPOs, three had exceptional listings: Afcom and Rajputana both at a 90%
premium, and Sathlokhar at an 86% premium. The other six SME IPOs were listed as fol-
lows: Utssav at a 0.05% premium, Dhariwal Corp at a 42% premium, Picture Post at a 25%
premium, Ashapura at a 28.47% premium, Bulkcorp at a 24% premium, and Kizi Apparels at
a 10.24% premium. Thus, out of the 12 issues, 11 were listed at a premium, and one at the
offer price.
* Mainboard IPOs from Last Week:
• Brainbees Solutions (Firstcry) : This IPO, with a price band of 440 to 465 and a total
issue size of 4193.73 crore, closed on August 8 after being fully subscribed. The minimum
application was for 32 shares. On the final day, the IPO was subscribed 12.22 times overall,
with QIBs at 19.30x, HNIs at 4.68x, bHNI at 5.32x, sHNI at 3.39x, Retail at 2.31x, and
Employee at 6.57x.
Allotment : Retail was subscribed 2.31 times. Out of 7 applicants, 4 may receive 32
shares each at a ratio of 1.75:1.
Listing : Expected on August 13, Tuesday. Shares may list around 550 in a favorable
market, offering a potential 50% profit if allotted.
• Unicommerce e-Solutions : This IPO, with a price band of 102 to 108 and a total issue
size of 276.57 crore, closed on August 8 after being fully subscribed.
Subscription : On the final day, it was subscribed 168.35 times overall, with QIBs at
138.75x, HNIs at 252.46x, bHNI at 266.49x, sHNI at 224.38x, and Retail at 130.99x.
Allotment : With a 130.99 times subscription in retail, approximately 11,5120 applicants
may receive 138 shares each.
* Listing : Expected on August 13, Tuesday. The listing price might be around 150 to 175,
potentially reaching 200 in a good market. Holding shares for 3 to 6 months might yield better
returns.
Ceigall India (544223) : This Mainboard IPO listed at 419, a 4.49% premium, against the
Cont...
Financial Weekly TM

offer price of 401, on August 8, Thursday.
Ola Electric (544225) : This Mainboard IPO was listed at 76, the same as the offer price,
on August 9, Friday.
Utssav CZ Gold (NSE SME) : This IPO was listed at 110.05, a 0.05% premium, against
the offer price of 110, on August 7, Wednesday.
Dhariwal Corp (NSE SME) : This IPO was listed at 150, a 41.51% premium, against the
offer price of 106, on August 8, Thursday.
Picture Post (NSE SME) : This IPO was listed at 30, a 25% premium, against the offer
price of 24, on August 9, Friday.
Afcom Holdings (544224) : This IPO was listed at 205.20, a 90% premium, against the
offer price of 108, on August 9, Friday.
Akums Drugs (544222) : This IPO was listed at 725, a 6.77% premium, against the offer
price of 679, on August 6, Tuesday.
Sathlokhar Synergy (NSE SME) : This IPO was listed at 260, an 85.71% premium,
against the offer price of 140, on August 6, Tuesday.
Ashapura Logistics (NSE SME) : This IPO was listed at 185, a 28.47% premium, against
the offer price of 144, on August 6, Tuesday.
Rajputana Industries (NSE SME) : This IPO was listed at 72.20, a 90% premium, against
the offer price of 38, on August 6, Tuesday.
Bulkcorp International (NSE SME) : This IPO was listed at 130, a 23.81% premium,
against the offer price of 105, on August 6, Tuesday.
Kizi Apparels (544221) : This IPO was listed at 23.15, a 10.24% premium, against the
offer price of 21, on August 6, Tuesday.
This week, the market will see one Mainboard IPO, Saraswati Saree, and four SME IPOs,
including NSE SME IPOs Sunlite Recycling, Positron Energy, and Solve Plastics, as well as
BSE SME IPO Broach Lifecare.
Additionally, an NCD issue from Muthoot Mercantile Ltd. will be available starting August
23. This week also features three Rights issues: Gacm Techno, Tata Consumer, and Nirman
Agri. Two more Rights issues, Vishvaprabha Ventures on August 19 and Swiss Military on
August 23, will also enter the market.
* This Week's Mainboard IPOs:
• Saraswati Saree (Mainboard) : This IPO has a price band of 152 to 160 and a total
issue size of 160 crore. The minimum application is for 90 shares. The issue will open on
August 12 and close on August 14.
Cont...
Financial Weekly TM

Subscription : Retail category is expected to be subscribed around 20 to 25 times or
more. Small HNI subscriptions may range from 25 to 30 times, while bHNI could be over 12
to 15 times.
Allotment and Refunds : Allotment is scheduled for August 16, with refunds on August
19, and shares will be credited to demat accounts on August 19. Each of the 20 applicants
may receive 90 shares.
Listing : Expected on August 20, Tuesday. Shares may list around 200 to 215, potentially
reaching 225.
* This Week's SME IPOs:
• Aesthetik Engineers (NSE SME) : This IPO has a price band of 55 to 58 and a total
issue size of 26.47 crore. The issue will open on August 8 and close on August 12. Listing is
expected on August 16, Friday.
Subscription : The issue was subscribed 52.11 times overall, and 81.58 times in the
retail category on the second day.
Listing : Expected to list between 82 and 85.
• Sunlite Recycling (NSE SME) : With a price band of 100 to 105 and a total issue size of
30.24 crore, this IPO will open on August 12 and close on August 14. Listing is scheduled for
August 20, Tuesday.
• Positron Energy Ltd. (NSE SME) : This IPO has a price band of 238 to 250 and a total
issue size of 51.21 crore. It will open on August 12 and close on August 14. The listing is
expected on August 20, Tuesday.
Listing : Expected to list between 350 and 375, potentially reaching 400 in a favorable
market.
• Broach Lifecare (BSE SME) : With a fixed price of 25 and a total issue size of 4.02
crore, this IPO will open on August 13 and close on August 16. The listing is scheduled for
August 21, Wednesday.
Listing : Expected to list around 30 to 32.
• Solve Plastic Products Ltd. (NSE SME) : This IPO has a fixed price of 91 and a total
issue size of 11.85 crore. It will open on August 13 and close on August 16. Listing is
expected on August 21, Wednesday.
* NCDs Issue:
• Chemmanur Credit (NCDs) : This issue, totaling 90 crore, includes a base issue of 40
Cont...
Financial Weekly TM

crore with an oversubscription of 20 crore. It opened on July 26 and will close on August 8.
The listing will be on BSE. The issue has been rated BBB/- Stable by IND.
Subscription : As of August 8, the issue was subscribed 1.74 times.
Upcoming : The Muthoot Mercantile Ltd. NCD issue is scheduled to enter the market on
August 23.
* Rights Issue :- Last week, two rights issues were present in the primary market, which
included Indowind Energy and GACM Technologies. Additionally, two more rights issues are
entering the market this week. Tata Consumer and Nirman Agri Genetics will both launch
their rights issues on August 5th. A detailed analysis of these two rights issues is provided in
a separate section. Furthermore, two rights issues, Vishvprabha Ventures and Swiss Mili-
tary, will enter the market on August 19th and August 23rd, respectively.
* Upcoming Issues :
• JSW Steel Plans NCD Issue : JSW Steel plans to raise 250 crore to fund its capital
expenditure plans. The company intends to issue NCDs at an interest rate of 8.5%. JSW
Steel plans to invest 2,000 crore in FY25 to increase its production capacity, with a goal to
reach 50 million tons by FY31. The company had a consolidated capex of 3,500 crore for
Q4FY24, bringing the total for the financial year to 16,752 crore. As of March 2024, the
company's net debt stood at 73,916 crore.
• SEBI Returns IPO Papers : The Securities and Exchange Board of India (SEBI) has
returned draft documents for IPOs of four companies. These include the supermarket major
Vishal Mega Mart, education-focused NBFC Avanse Financial Services, and Sai Life Sci-
ences, backed by private equity major TPG Capital. Additionally, the offer documents for
BMW Ventures were returned. SEBI returned the offer documents of all four companies on
July 24, 2024, due to non-compliance with regulation 7(1) of the SEBI ICDR Regulations,
2018.
• Bajaj Housing Finance IPO : According to the DRHP, Bajaj Housing Finance has re-
ceived SEBI approval to launch an IPO worth 7,000 crore, which includes a fresh issue of
equity shares worth 4,000 crore and an offer for sale of 3,000 crore in equity shares. The
funds will be used for working capital, debt repayment, and corporate purposes. The listing
will be on BSE and NSE. Additionally, Bazaar Style Retail (BSR), Diffusion Engineers, and
Deepak Builders have received SEBI approval for their IPOs. Meanwhile, SEBI returned the
draft IPO documents of Santhan Textiles on July 31. SEBI has also removed the obstacle on
the proposed 2,200 crore IPO of SK Finance.
***
Financial Weekly TM

Saraswati Saree Depot Limited Main Line IPO
Opened on 12th August & Closes on 14th August
Price Band Rs. 152 to 160; Listing on NSE & BSE
Consistent growth in Top and Bottom lines in all three fiscals
On valuation front issue looks fully priced
Operates in competitive and low margin business segment
Investors can apply for mid-term to long term period
Incorporated in 1996, Saraswati Saree Depot Limited is engaged in manufacturing and wholesale women's apparel.
The company's primary business is the wholesale (B2B) segment of sarees. It is also engaged in the wholesale busi-
ness of other women's apparel, such as kurtis, dress materials, blouse pieces, lehengas, bottoms, etc. The company
majorly sells products in southern and western regions comprising mainly Maharashtra, Goa, Karnataka, and Tamil
Nadu and the company has served more than 13,000 unique customers in fiscal 2024.
Issue Details
• Issue Opens on 12st August & Closes on 14th August 2024
• Object of the issue : Funding working capital requirements of the company. General corporate purposes.
• Fresh Issue : 64,99,800 Shares ; OFS : 35,01,000 Shares ; Total : 1,00,00,800 Shares ; Total size in Rs 160.01 Cr. • Face
Value Rs. 10
• Offer price Rs. 152 to 160 • Lot Size : 90 Share • Listing on : BSE NSE
• BRLM : Unistone Capital Pvt Ltd • Registrar : Bigshare Services Pvt Ltd
• Company Management : Mr. Shankar Dulhani, Mr. Mahesh Dulhani, Mr. Rajesh Dulhani, and Mr. Vinod Dulhani • Market
Cap : Rs. 633.6 Cr.
• Pre Issue Promoter Holdings : 100% • Post Issue Holdings : 74.75
Financial Performance : Consolidated Basis
• Issue Constitute : 25.25% of the Post Issue Paid up Capital
Particulars (Rs. Cr.) FY22 FY23 FY24
• Average of last 3 Yrs. EPS Rs. 7.39 & RONW : 60.92%
Total Revenue 550.31 603.52 612.58
• Pre IPO Eq. Capital Rs. : 33.10 Cr.• Post IPO Eq. Cap. Rs. 39.60Cr.
Profit After Tax 12.31 22.97 29.53
• Pre IPO : P/BV Ratio 8.16 (NAV : 19.61)
• Post Issue P/BV Ratio : 3.75 (NAV : 42.65) EPS 3.72 6.94 8.92
• Pre IPO P/E Ratio 23.05 • Post IPO asking P/E on fully diluted Eq. 27.58 RONW (%) 99.20 64.93 45.49
• Industry Peer Group PE Ratio : 46.57
• BRLM’s Performance : This is 18th Issue from BRLM in last 3 years. In last 17 Listing : 17 Issued opened with premium.
OTHER SIDE OF THE COIN

• Average cost of acquisition of promoters is in the range of 0.0.2 and 0.03 while the issue price band is Rs. 152 - 160
per share at FV of Rs. 10.
• Company has also issued bonus shares in ratio of 330:1 in June, 2023.
• Company's business is highly concentrated on the sale of women's sarees which makes it vulnerable to variations in
demand.
• Only 2 retail stores in Maharashtra at Kolhapur and Ulhasnagar.
• It is a seasonal business as well as highly fragmented segment.
• Derived 81% of its total revenue from Western region of India in Fy24.
• Operates majorly in B2B segment which reduces the visibility of the company and also requires high working capital for
day-to-day operations.
• Company has reported negative cash flows in past.
• Issue Size is Rs 160 Cr. which is below Rs 250 Cr. hence it will be listed in T Group
Recommendation :- Company has reported consistent growth in Top and Bottom lines in
all three fiscals. On valuation front, P/BV comes to 3.75 based on its NAV of Rs. 42.65 and
post IPO PE comes to 27.58, based on FY23 earnings and asking Price is at PE of 21.45 to its
post IPO diluted equity based. so issue looks fully priced. Company operates in competitive
as well as high volume and low margin business segment. Considering company's proven
financial record, investors can apply for mid-term to long term period.
Financial Weekly TM

Sunlite Recycling Industries Limited NSE SME IPO
Opens on 12th Aug. & Closes on 14th Aug. ; Price Band Rs. 100 to 105
Consistent growth in Top lines and Bottom lines
Sudden jump in PAT in FY24 and PAT Margins are only 0.76% raises eyebrow
Sudden drop in RoNW in FY24. On valuation front issue looks fully priced.
Operates in high volume and low margin business
Risk taking Investors may apply for long term period
Sunlite Recycling Industries Limited was established in 2012 and manufactures copper rods and wires, copper
earthing wires, copper earthing strips, copper conductors, copper wire rods etc. by recycling copper scrap for power
generation, transmission, distribution and electronics industries. The company's product portfolio offers a diversified
product range that includes a variety of grades, thicknesses, widths and standards in all types of copper products
according to customer specifications.
Issue Details
th th
Particulars (Rs. Cr.) FY22 FY23 FY24
• Issue Opens on 12 August & Closes on 14 August 2024
Total Revenue 937.92 1150.40 1166.55
• Issue Size : 28,80,000 Shares ; Rs 30.24 Cr Profit After Tax 4.26 5.60 8.90
• FV Rs. 10 • Price Band Rs. 100 to 105 EPS 10.65 14.01 19.35
• Minumum Lot Size : 1200 Share • Listing on : NSE SME RONW (%) 36.77 154.74 44.43
• BRLM : Hem Securities Limited • Registrar : Cameo Corporate Services
• Company Management : Nitin Kumar Heda, Prahladrai Ramdayal Heda & Khushboo Manishkumar Heda • Market
Cap : Rs. 114.24 Cr.
• Pre Issue Promoter Holding : 100% • Post Issue Promoter Holding : 73.53%
• Issue constitutes 26.47% of the post issue paid up capital
• Pre IPO Eq. Capital Rs. : 8.00 Cr.• Post IPO Eq. Cap. Rs. 10.88 Cr.
• Pre IPO : P/BV Ratio 2.41 (NAV : 43.55) • Post Issue P/BV Ratio : 2.27 (NAV : 46.21)
• Pre IPO P/E Ratio : 9.43 • Post IPO asking P/E on fully diluted equity : 12.83
• Industry peer Group PE Ratio : 16.19
• BRLM’s Performance : This is 49th Issue from BRLM in last 3 years. In last 10 Listing : 10 Issued opened with
premium.

• Average cost of acquisition of promoters is NA and 6.52 while the issue price band is Rs. 100 - 105 per share at FV
of Rs. 10.
• Company has also issued bonus shares in ratio of 7:1 in January, 2024.
• Company has also issued Rights shares at Rs. 11.79 at Fv of Rs. 10.
• Company has limited suppliers for raw material and majorly is from Gujarat region only.
• Company generated 45% of its total sales from Gujarat and its top 5 states contributed almost 92% of its total
revenue.
• Top 10 and Top 5 customers contributed only 40% and 28% of its total revenue from operations.
• In future Copper wires may get substituted by aluminum wires due to the lower cost and weight of metal which may
pose a threat to the core business of the Company.
• Company generates 90% of its revenue from sales of Copper rods.
• Registered offices is not owned by the company.
• Total capacity utilization reduced to 76% in Fy24 from 82% in Fy23.
Recommendation :- Company has reported constant growth in Top lines and Bottom lines in all
three fiscals. Sudden jump of 58% jump in Fy24 raises eyebrows. Company's RoNW has dropped to
44.43% in Fy24 compared to 154.74% in Fy23 which raises concerns. On valuation front, P/BV comes
to 2.27 based on its NAV of Rs. 46.21 and post IPO PE comes to 12.83, so issue looks fully priced.
Company operates in high volume and low margin business which was only 0.79% PAT margins in
Fy24. Considering proven financial record, Investors may apply for long term period.
Financial Weekly TM

Broach Lifecare Hospital Limited BSE SME IPO
Opens on 13th Aug. & Closes on 16th Aug. ; Offer Price Rs 25
Previously it was sole proprietorship firm till FY24
Unsteady growth in Top and Bottom lines of all three fiscals
Operates in competitive market ; On valuation front issue looks fully priced
Well - Informed Investors may park their fund for long term gain
Incorporated in 2023, Broach Lifecare Hospital operates boutique hospitals under the brand name "Maple
Hospitals. The company provide dedicated 24 hours services to patients with heart ailments, including non-
invasive cardiology services such as 2D Echocardiography, Electrocardiography, Treadmill Test, Holter
monitoring, Ambulatory Blood Pressure Measurement, Stress test, and Dobutamine Stress
Echocardiography. The Bharuch hospital has 25 ultra-luxury in-patient beds and is equipped with diagnos-
tic devices for various tests.
Issue Details Financial Performance : Consolidated Basis
Particulars (Rs. Cr.) FY21 FY22 FY23 FY24
• Issue Opens on 13th August & Closes on 16th August 2024
Total Revenue 3.80 3.48 1.92 2.61
• Issue Size : 16,08,000 Shares ; Rs 4.02 Cr Profit After Tax 0.77 0.46 0.14 0.70
• Face Value Rs. 10 • Offer price Rs 25 • Lot Size : 6000 Share EPS -- -- -- 1.92
• Listing on : BSE SME • BRLM : Fedex Securities Pvt Ltd RONW (%) 39.95 20.39 6.40 12.76
• Registrar : Kfin Technologies Limited
• Company Management : Dr. Jaykumar Narendra Vyas, Dr. Shachi Jaykumar Vyas and Mrs. Dhyuti
Krupesh. • Market Cap : Rs. 15.18 Cr.
• Pre Issue Promoter Holding : 86.74% • Post Issue Promoter Holding : 63.77%
• Industry peer Group PE Ratio : 14.92
• BRLM’s Performance : This is 31st Issue from BRLM in last 4 Years. In last 11 Listing all issue opened
with premium.
• Average cost of acquisition of promoters is 5.56, 5.71 and 11.64 while the issue price band is Rs. 25 per
share at FV of Rs. 10.
• Company has also issued bonus shares in ratio of 4:5 in September, 2023.
• Co. has also issued Rights shares at Rs. 45 at Fv of Rs. 10 in August and September, 2023.
• Previously it was Sole proprietorship till FY23 and recently got converted into listed co. in Fy24.
• Growth in Revenue from Operations was negative in Fy23 and Fy22 but company managed to post
positive and double growth in FY24.
• Degrowth in PAT margins and RoNW in FY23 compared to Fy22 and Fy21.
• Degrowth in ROE and ROCE in from Fy21 to Fy23.
• Company has 2 hospitals and that too in Bharuch and Ankleshwar in Gujarat.
• Company has reported negative cash flow in past.
• Post IPO 6.07 Cr. Equity capital indicate, longer gestation period for migration to main board.
Recommendation :- Company has only reported FY24 financials as a limited company as
previously it was a sole proprietorship company. On proprietorship basis company has
reported degrowth in Top lines in Fy23 compared to FY22 but in Fy24 company reported
44% jump. On valuation front, P/BV comes to 1.6 based on its NAV of Rs. 15.63 and post IPO
PE comes to 21.75, so issue looks fully priced. Company faces high competition from listed
as well as unlisted players. Well - Informed Investors may park their fund for long term gain.
Financial Weekly TM

Aesthetik Engineers Limited NSE SME IPO
Opened on 8th Aug. & Closes on 12th Aug.
Price Band Rs. 55 to 58 ; Listing on NSE SME Platform
Only Two years financials are available on consolidated basis
Consistent growth in Top lines along with
exponential growth in Bottom lines on stand alone basis
EPS has decrease to 3.97 in Fy24 compared to 13.34 in Fy23
Valuation front issue looks fully priced; Operates in fragmented market
Considering Rs 67 Cr. orders and marquee client
Investors may consider to apply for medium to long term rewards
Founded in 2003, Aesthetik Engineers Limited provides interior design services and is involved in the design, manufacture,
and installation of façade systems. The company provides design, engineering, fabrication, and installation of architectural
façades, aluminum doors and windows as well as railings, stairs and Glassfibre Reinforced Concrete (GFRC) for hospitality,
residential, commercial and infrastructure projects. The product portfolio of Aesthetik Engineers includes: Façade, Doors and
windows, Railings and stairs, Glass Fiber Reinforced Concrete (GFRC). Financial Performance
Issue Details
• Issue Opened on 8th August & Closes on 12th August 2024 Consolidated Basis
Particulars (Rs. Cr.) FY23 FY24
• Issue Size : 45,64,000 Shares ; Rs 26.47 Cr • Face Value Rs. 10
Total Revenue 40.36 60.80
• Price Band Rs. 55 to 58
Profit After Tax 1.13 5.03
• Minumum Lot Size : 2000 Share
EPS 13.34 3.97
• Listing on : NSE SME • BRLM : Narnolia Financial Services Ltd
• Registrar : Skyline Financial Services RONW (%) 11.98 3.48
• Company Management : Mr. Avinash Agarwal, Ms. Sreeti Agarwal, Ms. Manisha Sureka, and M/s Avinash Agarwal (HUF)
• Market Cap : Rs. 99.88 Cr. • Pre Issue Promoter Holding : 100% • Post Issue Holding : 73.50%
• Pre IPO Eq. Capital Rs. : 12.66 Cr.• Post IPO Eq. Cap. Rs. 17.22Cr.
• Industry Peer Group PE Ratio : 28.00
• BRLM’s Performance : This is 11th Issue from BRLM in last 3 years. In last 10 Listing : 9 Issued opened with premium & 1 Issue
Discount.

• Average cost of acquisition of promoters is in the range of 0.67, 0.98, 2.43 to 7.33 while the issue price Rs. 55 - 58 per share
at FV of Rs. 10.
• Apart from issuing shares at par, company has also issued shares at Rs. 10, 59, 60, 200 multiple times between 2008 to 2013
at FV of Rs. 10.
• Company has also issued bonus shares in ratio of 14:1 March, 2023.
• Company's registered offices are on lease.
• Company generates majority of its revenue from West Bengal.
• Company has reported negative cash flows in past.
• Company's outstanding unsecured loans stands at Rs. 44,285.00 thousand as on Fy24.
• Company's top 10 customers contributed 81% and 79% of total revenue from operations in Fy24 and Fy23 respectively.
• Requires significant amount of working capital for a continuing growth.
• Company operates in highly competitive business segment with low entry barriers.
Recommendation :- Company has reported only 2 years of financials on consolidated basis. On standalone
basis, company has reported constant growth in top lines in last three fiscals. Company has also reported
exponential growth in Bottom lines with 354% jump in PAT in Fy24 compared to Fy23 and also showcased
turnaround in Fy23 from loss in FY22. Sudden exponential jumps in PAT raise eyebrows and looks window
dressing. On valuation front, P/BV comes to 2.49 based on its NAV of Rs. 23.30 and post IPO PE comes to 19.86,
so issue looks fully priced. Company operates in highly fragmented market. Considering over Rs 67 Cr. Orders
which is equity to last year revenue and marquee client. Investors may consider to apply for medium to long
term rewards.
Financial Weekly TM

Positron Energy Limited NSE SME IPO
Opens on 12th Aug. & Closes on 14th Aug. ; Price Band Rs. 238 to 250
It has posted consistent growth in financial performance for last two fiscals
Sudden jump in top line & Bottom line for FY24 is surprising
On the valuation front, considering all parameters, issue appears fully priced
Investors may consider to apply for medium to long term rewards
Incorporated in 2008, Positron Energy Limited provides management and technical advisory for the oil
and gas industry in India. They offer end-to-end gas distribution solutions, including management consultancy,
project management, and operation and management services. The company has developed a gas aggre-
gation business focusing on natural gas and utilizes common carrier pipeline networks in the Indian market.
The company is certified according to ISO 9001:2015 and ISO 45001:2018 standards. This certification
ensures the quality of consultancy and O&M services provided to the oil and gas sector.
Issue Details Financial Performance : Consolidated Basis
• Issue Openes on 12th August & Closes on 14th August 2024 Particulars (Rs. Cr.) FY22 FY23 FY24
• Object of the issue : To Meet Working Capital Requirements Total Revenue 8.97 52.03 135.42
Profit After Tax 0.58 2.13 8.79
General Corporate Purposes
EPS 1.04 3.83 15.83
• Issue Size : 20,48,400 Shares ; Rs 51.21 Cr RONW (%) 16.36 37.54 59.01
• FV Rs. 10 • Price Band Rs. 238 to 250
• Minumum Lot Size : 600 Share • Listing on : NSE SME
• BRLM : Beeline Capital Advisors • Registrar : Link Intime India Private Ltd
• Management : Mr. Rajiv Shankarankutty Menon, Mr. Manav Bahri and Mr. Sujit K Sugathan.
• Market Cap : Rs. 190.01 Cr.
• BRLM’s Performance : This is 45th Issue from BRLM in last 3 years. In last 44 Listing : 42 Issued opened
with premium & 2 Issue Discount.
• The Average cost of acquisition of equity shares by the promoters of the company is Rs. 0.82 and 0.89
per share while the offer price is Rs. 250 is
• In February 2024, the company issued bonus shares in the ratio of 15:1.
• Apart from initial equity capital at par, the company issued further equity shares in the price range of Rs
10 to Rs 56.50 between March 2011 to February 2019.
• Post IPO Equity Capital Rs. 7.60 crore only so it may take a long time for the company to migrate to the
main board.
• The registered office is not owned by the company.
• Recent financial performance of the company, operating acquisitions has been cash flow negative.
• Company is dependent on third party natural gas and only few customers.
• The company has incurred significant debt.
Recommendation :- The Company provides management and technical advisors for Oil
& Gas Industries. It has posted continuous growth in the financial performance of the last
two years. However Sudden 480% increased in top line & 267% rise in bottom line for FY24
is surprising. On the valuation front considering P/BV of 9.32 & PE of 21.66, Issue appears
fully priced. Investors may consider to apply for medium to long term rewards.
Financial Weekly TM

Solve Plastic Products Limited NSE SME IPO
Opens on 13th Aug. & Closes on 16th Aug. ; Offer price Rs 91
Inconsistent Grwoth in Top lines in last 3 Financial years
Growth in Bottom lines after turnaround from loss in FY22
On valuation front issue looks fully priced,
De-growth in RONW in FY24 compared to FY23
Faces competition from listed players,
Investors may consider to apply for long term period
Founded in 1994, Solve Plastic Products Limited manufactures a comprehensive range of uPVC pipes (unplasticized
polyvinyl chloride) and Rigid PVC electrical conduits and markets them under the brand name "BALCOPIPES" The
company has 3 manufacturing units in Kerala and 1 well-equipped manufacturing unit in Tamil Nadu. The company
distributes its products mainly in the state of Kerala. The company's product portfolio includes :- Solvent cement,
Water tank, Garden hoses, Rigid PVC electrical cables PVC pipes, The company has a total of 165 employees (exclud-
ing the managing directors).
Issue Details Particulars (Rs. Cr.) FY22 FY23 FY24
th th
• Issue Opens on 13 August & Closes on 16 August 2024 Total Revenue 55.78 62.25 47.16
• Object of the issue : Funding Capital Expenditure towards the purchase of Profit After Tax -(0.41) 1.20 1.42
additional plant and machinery, To meet the Working Capital Requirements EPS -(1.34) 3.96 4.66
• Issue Size : 13,02,000 Shares ; Rs 11.85 Cr • Face Value Rs. 10 RONW (%) (56.31) 62.46 32.47
• Offer price Rs 91 •Minumum Lot Size : 1200 Share • Listing on : NSE SME
• BRLM : Finshore Management• Registrar : Integrated Registry Management
• Company Management : Mr. Sudheer Kumar Balakrishnan Nair, Mr. Susil Balakrishnan Nair, and Mr. Balakrishnan
Nair
• Industry peer Group PE Ratio : 39.31 • Market Cap : Rs. 39.75 Cr.
• BRLM’s Performance : This is 26st Issue from BRLM in last 3 years. In last 25 Listing : 20 Issued opened with
premium & 7 Issue opened with Discount.
• Average cost of acquisition of promoters is 10.14, 10.70, 12.00, 12.50, 13.33 and 125 while the issue price band is
Rs. 91 per share at FV of Rs. 10.
• Apart from issuing at par company has allotted shares as Rights shares and Private placement at Rs. 10, 20 and 132
per share in between February, 1995 to August, 2023.
• Company's revenue is dependent on single business segment i.e. PVC Pipe & Electrical Conduit.
• Company derived 60% of its total revenue from its top customers in Fy24.
• Company operates in a price sensitive industry.
Recommendation :- Company has posted inconsistent growth in Top lines in all three
fiscals. It has reported growth in bottom lines in Fy24 and Fy23 after turnaround from Fy22.
On valuation front, P/BV comes to 2.45 based on its NAV of Rs. 37.17 and post IPO PE
comes to 28.12 Compared to peers average of 39.3, so issue looks fully priced. Company
faces tough competition from listed players. Company has reported degrowth in RoNW in
Fy24 from FY23 along with negative RoNW in Fy22. Considering all parameters, Investors
may to apply for long term period.
Financial Weekly TM

Tata Consumer Products Limited Rights Issue
Opens on 5th August & Closes on 19th August, 2024
Offer price Rs. 818 (FV Rs 1) ; Listing on NSE & BSE • BSE Code : 500800 • CMP : 1199.25
Entitlement : 1:26 • 52 Week High : 1254.36 • Low : 817.32 • Issue Size : Rs 2997.76 Cr
TCPL is FMCG Company from Tata Group with diversified portfolio
In the last two financial years, the company has recorded consistent growth in top lines
Company has reported setback bottom line for last two fiscal
Company has reported set back in bottom line for FY24 follows higher provisions
Shareholders must apply for more than their entitlement
Considering 32% discounted RI offer compared to CMP and as a mini bonus from the company
Tata Consumer Products Limited, a TATA Group company, is one of India's leading FMCG
companies. The product portfolio of Tata Consumer Products includes tea, coffee, water, ready-to-
drink products, salt, pulses, spices, ready-to-cook and ready-to-eat products, breakfast cereals,
snacks and mini meals. The company's key beverage brands include Tata Tea, Tetley, Organic
India, Eight O'Clock Coffee, Tata Coffee Grand, Himalayan Natural Mineral Water, Tata Copper+
and Tata Gluco+. And the food portfolio includes brands such as Tata Salt, Tata Sampann, Tata
Soulfull, Ching's Secret and Smith & Jones.
Issue Details Financial Performance :
Consolidated Basis
Particulars (Rs. Cr.) FY 23 FY 24
• Issue Opens on 5th August & Closes on 19th August, 2024
Total Revenue 13952.04 15451.47
• Issue Size : 3,66,47,492 Sh. ; Rs 2997.76 Cr Profit After Tax 1346.52 1300.99
• FV Rs. 10 • Issue Price : Rs 818 per Share

• Lot : 1 per Share • Listing on BSE & NSE
• Terms of payment : At the time of application.
• Entitlement : 1 Rights Equity Share(s) for every 26 fully paid-up Equity Shares held on Record
Date : 27-7-2024 • Deemed Date of Allotment : 26-8-2024
• Lead Manager : Kotak Mahindra, Axis Capital, HSBC Sec. • Registrar : Link Intime
• Pre IPO Equity Capital Rs. 95.28 Cr. • Post IPO Equity Capital Rs. 98.95 Cr.
• Cum Right basis at Rs. 1223.65 (25-7-2024) • ex Right basis at Rs. 1217.95 (26-7-2024)
• Since then, It has marked a high/low of Rs. 1220.90/ Rs. 1166.30 • It last closed at Rs. 1193.60
(2-8-2024) • 52 Weeks high / Low of Rs. 1254.36 / Rs. 817.32
Recommendation : - TCPL is an FMCG company of Tata Group with diversified product
portfolio. It has posted consistent growth in top lines for last two fiscal but setback in bot-
tom line for FY24 following higher provisioning. It has declared dividend of 845% in FY23
and 775% for FY24. Promoters holding are 33.55%. Shareholders may apply for more than
their entitlement. Considering mini bonus from the company and also it’s RI is available at
32% discount to its CMP.
Financial Weekly TM

Nirman Agri Genetics Limited Rights Issue
Opens on 5th August & Closes on 23rd August, 2024
Offer price Rs. 239 per Share; Listing on NSE
Entitlement : 11:32 • 52 WKH : 415 and Low 120 • Issue Size Rs 48.97 Cr.
Company entered into the market with maiden issue of Rs.120, issue size Rs. 48.97 Cr.
It has reported bumper financial performance for the FY24
Considering Strong fundamentals & RI offer at 33% discount to its CMP
Shareholders may consider to apply for long term prespective
Incorporated in August 2020, Nirman Agri Genetics Limited is an Indian company that deals
with agricultural products. They produce, process, and market high-quality hybrid seeds, pesti-
cides, and bio-organic products for various crops such as corn, sunflower, cotton, paddy, grain
sorghum, etc. Recently, they have also started offering micronutrients and bioproducts. The com-
pany has production, processing, and research facilities in Maharashtra, specifically in Nashik and
Nimgul, as well as in Gujarat and Madhya Pradesh. Financial Performance : Consolidated Basis
Particulars (Rs. Cr.) FY23 FY24
Issue Details Total Revenue 28.61 63.34
• Issue Opens on 5th August & Closes on 23rd August, Profit After Tax 4.01 10.41
• Issue Size : 20,49,025 Share ; Rs 48.97 Cr

• Face Value Rs. 10 • Issue Price : Rs 239 per Share
• Market Lot : 1 per Share • Listing on NSE • Deemed Date of Allotment : 30-8-2024
• Terms of payment : The entire amount of the Issue Price of Rs 239/- per Rights Equity Share shall
be payable at the time of Application.
• Entitlement : 11 Rights Equity Share(s) for every 32 fully paid-up Equity Shares held on Record
Date : 29-7-2024
• Lead Manager : Self Managed • Registrar : Big Share Services Private Limited
• Pre IPO Equity Capital Rs. 5.96 Cr. • Post IPO Equity Capital Rs. 8.01 Cr.
• Cum Right basis at Rs. 386.05 (26-7-2024) • ex Right basis at Rs. 365.90 (29-7-2024)
• Since then, It has marked a high/low of Rs. 390.15/ Rs. 346.05
• It last closed at Rs. 353.85 (5-8-2024) • 52 Weeks high / Low of Rs. 414.86 / Rs 119.82
Recommendation :- Nirma Agri Genetics Ltd. is one of the Agri-Input company. It came
into the market with its maiden IPO of Rs. 20.30 Cr. at a price of Rs. 99 per share in March
2023. The company has posted its financial performance for the last two fiscals. It has re-
ported sudden jum in Top line & bottom line for FY24 is surprising. Promoters holding is
66.05%. Considering Spectacular Financial performance and RI offer at 33% discount to its
CMP. Shareholders may apply for long term rewards.
Financial Weekly TM

Smart Best Buy S. N. Zaveri
Bharat Rasayan : Profit jumps more than 500%
Grasim : Highest ever quarterly sales in CSF business
Thermax Ltd : Order Inflow to continue for next 2-3 years
Britannia Industries : Non-Biscuit portfolio remained key to growth
TVS Motor : Brokerages bullish on this auto counter
Bharat Rasayan (Rs 12808.00) : Shares of Bharat Rasayan Ltd. hit a 20% upper circuit
on Friday (August 9) after the company reported a 515% year-on-year surge in its June quarter net
profit at 43 crore versus 7 crore in the year ago period. The stock was trading at 12,815.15 on the
NSE, gaining 2,135.85 over Thursday's closing price. The revenue from operations stood at 282
crore. It was 239 crore in the corresponding quarter of the previous financial year. On a YoY basis,
the revenue rose by 18%. For the quarter, Bharat Rasayan reported an operating profit of 38.2
crore, compared to 5.5 crore in the year-ago period. Margin for the quarter stood at 13.5%. The
company's debt to equity ratio increased to 0.8 per cent in June quarter from 0.2 per cent in Q1FY24,
however, it remained flat sequentially. Meanwhile, the company's earning per share (EPS) jumped
to 103.77 versus Rs 17.06, rising 508.26 per cent. On a quarterly basis, the EPS slumped by 35.75
per cent from Rs 161.51 per share in Q4FY24. The company specialises in manufacturing techni-
cal formulations and intermediates. Buy.
Grasim Industries (Rs 2572.00) : Aditya Birla Group flagship holding firm Grasim
Industries Ltd on Friday reported a decline of 12 per cent in its consolidated net profit at Rs 2,267.74
crore for the first quarter ending June 2024, on account of higher depreciation and interest charges
resulting from new growth businesses. The company had posted a net profit of Rs 2,576.35
crore during the April-June quarter a year ago. Its revenue from operations was up 9 per cent to Rs
33,860.75 crore during the quarter under review from Rs 31,065.19 crore in the corresponding
period of the previous fiscal. EBITDA was lower by 4 per cent at Rs 4,760 crore, which was on
account of Grasim's investments in the Paints business Birla Opus. Grasim's revenue from its Cel-
lulosic Fibre business in the June quarter was up 5.68 per cent to Rs 3,787.25 crore. Its CSF
(Cellulosic Staple Fibre) business achieved its highest-ever quarterly sales volume at 212 KT up
14 per cent YoY. revenue from Chemicals business was down 3.73 per cent to Rs 2,065.67 crore
in the June quarter. EBITDA for the Chemicals segment stood at Rs 310 crore, up by 59 per cent
QoQ but declined 13 per cent. Invest.
Thermax (Rs 2572.00) :Thermax reported a profit of Rs 109 crore in the last quarter
against Rs 60 crore profit in the June 2023 quarter. Revenue climbed 13% to Rs 2,184 crore in the
last quarter against Rs 1,933 crore in the June 2023 quarter. Earnings per share rose to Rs 10.28
Cont...
Financial Weekly TM

per share in Q1 against Rs 5.23 per share on June 2023 quarter. EBITDA ascended 6% YoY to Rs
1.4bn impacted by a one-off provision of INR 500m in the industrial infra segment. Order inflow (OI)
and order book (OB) growth remained soft too; although, the outlook appears brighter with large
orders expected from refining, petchem, steel and cement sectors. Thermax is contemplating par-
ticipating in thermal power plant orders given that the tenders for the same are split to boiler supply
levels. Thermal awarding shall remain strong over the next 2-3 years and could be a huge boost to
OI in the medium term. Thermax's business portfolio includes products for heating, cooling, water
and waste management, and specialty chemicals. Invest.
Britannia Industries (Rs 5742.00) : Britannia Industries reported revenue growth of 4
per cent year-on-year (Y-o-Y) in Q1FY25 and volume growth of 8 per cent implying price trends
were adverse. Other operating income jumped 195 per cent, due to the incentive received for the
Ranjangaon plant. The non-biscuit portfolio (rusk, cake, bread) remained key to growth and con-
tributed 25 per cent of the total revenue. Rusk delivered double-digit volume growth, while cheese
posted double-digit revenue growth. Management remains positive about the outlook of the non-
biscuit portfolio and expects it to grow 1.5 times the biscuit portfolio. Britannia launched pure
magic stars, 5050 golmaal butter garlic biscuits even as earlier innovations like Jimjam Pops,
Treat and 50-50 Gol Maal sustained traction. Accumulate.
TVS Motor (Rs 2581.00) : TVS Motor Company stock jumped 6 percent to hit a new
lifetime high of Rs 2,618 in early trade on August 7 after brokerages retained their bullish stance on
the counter following its first-quarter earnings.During Q1, the company reported a 23 percent in-
crease in consolidated net profit, reaching Rs 577 crore for the quarter ended June 30, compared
to Rs 468 crore in the same period last year. Jefferies has issued a buy call on TVS Motors, raising
the target price to Rs 3,000 per share, implying an upside of 21 percent from the current levels.
Analysts believe TVS will be a key beneficiary of a revival in two-wheeler demand in both domes-
tic and export markets. Macquarie has maintained an outperform call with a target price of Rs 2,783
per share. The brokerage also points out that investments in subsidiaries will be a crucial factor to
monitor, particularly from a free cash flow perspective. The company's revenue from operations
grew by 16 percent to Rs 8,376 crore in Q1FY25, up from Rs 7,218 crore in Q1FY24. Additionally,
TVS Motor achieved its highest-ever operating profit, with EBITDA rising 26 percent to Rs 960
crore in Q1FY25, compared to Rs 764 crore in the corresponding quarter of the previous fiscal
year. Buy.
* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month • All stocks rates / indices on
9th August, 2024 unless specified 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 TM

Starlineps Enterprises Ltd. BSE: 540492; CMP Rs. 162
Board Approves 1:5 Stock Split & Bonus Issue
Corporate SCAN
Starlineps Enterprises Ltd (BSE: 540492),
a leading player engaged in the precious
stone business, has announced that its Board
in its meeting held on August 8, 2024, has
approved The increase in company's autho-
rized share capital, from Rs 22 crores to Rs
37 crores. This increase is subject to share-
holder approval, which will be sought through
a postal ballot.
In a bid to increase share liquidity and
make them more accessible to small inves-
tors, the company has also approved a stock split. Each existing equity share with a face value of
Rs 5 will be subdivided into five equity shares of Rs 1 each. The record date for this stock split will
be announced in due course.
Moreover, the board has sanctioned the issuance of bonus shares in a 1:5 ratio, meaning share-
holders will receive one additional share for every five shares held. This initiative is also pending
shareholder approval via postal ballot, emphasizing the company's commitment to rewarding its
investors.
The announcement follows a robust fiscal performance, with the company reporting a 48.17%
increase in annual revenue, reaching 30.31 Cr for the year ending March 2024. This surge con-
trasts sharply with the sector's average revenue decline of -6.74%. Quarterly revenue also showed
significant growth, rising by 135.14% year-on-year to Rs12.06 Cr.
The company's annual net profit soared by 192.5% to 1.79 Cr, outstripping the sector's average
net profit growth of 9.17%. Additionally, Starlineps Enterprises Ltd remains debt-free, underscoring
its strong financial foundation. The company's net profits and book value per share have also
shown consistent improvement over the past two years.
These strategic measures and strong financial metrics underline Starlineps Enterprises Ltd's
commitment to enhancing shareholder value. The potential sub-division of shares will make them
more accessible and liquid, attracting a broader investor base. Issuing bonus shares will reward
existing shareholders, increasing their equity holding..
Starlineps Enterprises is a leading player engaged in the precious stone business. With a mas-
tery to analyse the trends in the market the company aims to go far with very low capital require-
ments. The company is mainly focusing on the building relations that last long with the clients and
make them more profitable which ultimately helps us to stand strong in to the market. The core
values of Starlineps Enterprises very distinctly include TRANSPARENCY and INTEGRITY. These
values, unmistakably reestablish its commitment towards its Shareholder's, which always unques-
tionable and supreme. The company focuses on the creation of Shareholder's wealth is undivided
and always remains one of our primary objectives.
***
Financial Weekly TM

Dalal Street Whispers Dilip K. Shah
LIC (Rs 1133.00) :- In Q1FY25, new business premiums surged 26.96 per cent to Rs
58,470 crore, up from Rs 46,052 crore (Q1FY24). The total annual premium equivalent (APE)
increased by 21.3 per cent to Rs 11,560 crore. The net value of new business (VNB) grew 23.65
per cent to Rs 1,610 crore. Net profit climbed 9.6 per cent to Rs 10,461 crore.
Biocon (Rs 336.00) :- The company reported a 550.6 per cent increase in profit to Rs
659.7 crore in Q1FY25, up from Rs 101.4 crore in Q1FY24. Revenue rose marginally 0.3 per cent
to Rs 3,432.9 crore, with other income increasing to Rs 1,134.5 crore.
Va Tech Wabag (Rs 1259.00) :- The company saw a 10.5 per cent Y-o-Y increase in
profit to Rs 54.8 crore, up from Rs 49.6 crore. Revenue grew 13.3 per cent to Rs 626.5 crore.
Eicher Motors (Rs 4829.00) :- The company's Q1 profit saw an increase of 19.9 per
cent Y-o-Y to Rs 1,101.5 crore from Rs 918.3 crore. Revenue grew 10.2 per cent to Rs 4,393 crore,
up from Rs 3,986.4 crore. Ebitda rose 14.2 per cent to Rs 1,165.4 crore with an expanded margin of
26.5 per cent, compared to 25.6 per cent previously.
ABB India (Rs 7970.00) :- In the second quarter of CY24, ABB India reported a 50 per
cent Y-o-Y increase in profit to Rs 443.5 crore, up from Rs 295.6 crore. Revenue rose 12.8 per cent
to Rs 2,830.9 crore. The board has declared an interim dividend of Rs 10.66 per share.
SJVN (Rs 139.00) :- SJVN Green Energy has commissioned the 90 MW Omkareshwar
Floating Solar Project, raising SJVN's total installed capacity to 2,466.50 MW.
Gujarat State Petronet (Rs 327.00) :- The company reported a profit growth of 21.3
per cent Y-o-Y to Rs 526.5 crore, compared to Rs 434 crore. Revenue, excluding excise duty,
increased 15 per cent to Rs 4,727 crore.
Container Corporation of India (Rs 980.00) :- Profit increased 5.8 per cent Y-o-Y
to Rs 259.4 crore, while revenue rose 9.4 per cent to Rs 2,103.1 crore.
Utkarsh SFB (Rs 48.00) :- The RBI has approved an increase in authorized capital from
Rs 1,500 crore to Rs 2,000 crore, along with amendments to the MOA.
SAIL (Rs 129.00) :- The company faced a 61.6 per cent drop in profit to Rs 81.5 crore,
down from Rs 212.5 crore. Revenue fell 1.5 per cent to Rs 23,997.81 crore, impacted by an excep-
tional loss of Rs 311.8 crore due to employee allowances and a significant drop in other income to
Rs 177 crore.
IRCON International (Rs 264.00) :- In Q1, IRCON International's profit grew 19.6 per
cent to Rs 224 crore from Rs 187.4 crore. However, revenue decreased 17.2 per cent to Rs 2,287.1
crore.
Bharat Rasayan (Rs 12808.00) :- The company's profit surged 508.2 per cent to Rs
43.1 crore from Rs 7.09 crore, with revenue growing 18 per cent to Rs 282.2 crore.
Cont.....
Financial Weekly TM

GAIL India (Rs 227.00) :- GAIL has partnered with Rajasthan Rajya Vidyut Utpadan
Nigam (RRVUNL) to enhance operations at RRVUNL's gas-based power plants and develop around
1,000 MW of solar and wind projects.
Shriram Finance (Rs 2956.00) :- The company has entered a co-lending agreement
with Axis Bank to provide financial assistance for LAP loans and new commercial vehicle loans.
DLF (Rs 830.00) and other real estate stock :- The government has introduced
an amendment that provides taxpayers with a choice for calculating long-term capital gains taxes
on property purchases made before July 23, 2024. Taxpayers can now opt for either the new 12.5
percent rate without indexation or the previous 20 percent rate with indexation, allowing them to
select the option that results in a more favourable tax outcome.
Tata Power (Rs 417.00) :- Tata Power's profit slipped 0.2 per cent to Rs 970.9 crore from
Rs 972.5 crore, but revenue increased 13.7 per cent to Rs 17,293.6 crore from Rs 15,213.3 crore.
Tata Power also announced plans to acquire a 40 per cent stake in Khorlochhu Hydro Power for
Rs 830 crore and received board approval for the termination and delisting of its Global Depository
Shares (GDSs) Programme.
PB Fintech (Rs 1452.00) :- PB Fintech posted a profit of Rs 60 crore, an improvement
from a loss of Rs 11.9 crore. Revenue surged 52 per cent to Rs 1,010 crore from Rs 666 crore,
while adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) jumped 117
per cent to Rs 49 crore and the adjusted Ebitda margin expanded to 5 per cent from 3 per cent.
Lupin (Rs 2113.00) :- Lupin's profit surged 77.2 per cent to Rs 801.3 crore in Q1FY25
compared to Rs 452.3 crore in the previous year (Q1FY24). Revenue also saw an increase of 16.3
per cent, rising to Rs 5,600.3 crore from Rs 4,814 crore. Bosch experienced a 13.8 per cent growth
in profit to Rs 465.4 crore from Rs 409 crore, with revenue up 3.8 per cent at Rs 4,316.8 crore,
compared to Rs 4,158.4 crore.
Cummins India (Rs 3714.00) :- Cummins India reported a 33 per cent increase in profit
to Rs 419.8 crore from Rs 315.7 crore, with revenue up 4.3 per cent at Rs 2,304.2 crore compared
to Rs 2,208.7 crore. The company saw a change in leadership, with Ashwath Ram resigning as
managing director, and Shveta Arya appointed as additional director and managing director (des-
ignate).
Linde India (Rs 7684.00) :- Linde India reported a 13.8 per cent increase in profit to Rs
113.7 crore from Rs 99.88 crore, but revenue fell 9.4 per cent to Rs 653.2 crore from Rs 721 crore.
VIP Industries (Rs 449.00) :- VIP Industries experienced a major profit drop of 93 per
cent to Rs 4.04 crore from Rs 57.8 crore, though revenue rose slightly by 0.4 per cent to Rs 638.9
crore from Rs 636.1 crore. The company reported no exceptional gains compared to Rs 25.78
crore in the previous year.
Financial Weekly TM

PI Industries (Rs 4488.00) :- The company reported a 17.2 per cent increase in profit
to Rs 448.8 crore from Rs 382.9 crore, with revenue growing 8.3 per cent to Rs 2,068.9 crore from
Rs 1,910.4 crore.
Gulf Oil (Rs 1232.00) :- Gulf Oil India saw a 24 per cent jump in profit to Rs 84.3 crore
from Rs 68 crore, with revenue increasing 10.1 per cent to Rs 894 crore from Rs 811.7 crore.
Rain Industries (Rs 157.00) :- Rain Industries saw a loss of Rs 44.9 crore in Q1FY25
compared to a profit of Rs 206.5 crore in the previous year. Revenue declined by 11.5 per cent to
Rs 4,094.1 crore from Rs 4,627 crore.
Krsnaa Diagnostics (Rs 695.00) :- Krsnaa Diagnostics reported a 22.4 per cent
increase in profit to Rs 17.9 crore from Rs 14.6 crore year-over-year, with revenue growing 22 per
cent to Rs 170.2 crore from Rs 139.6 crore. The company also saw a change in leadership, with
Prashant Pandurangrao Deshmukh resigning as CEO.
Bata India (Rs 1442.00) :- Bata India saw a 62.8 per cent rise in profit to Rs 174 crore
from Rs 106.9 crore, although revenue fell by 1.4 per cent to Rs 944.6 crore from Rs 958.1 crore.
The company also reported an exceptional gain of Rs 133.95 crore.
Gujarat Gas (Rs 610.00) :- Gujarat Gas faced a 19.5 per cent decline in profit to Rs
329.8 crore from Rs 409.5 crore, while revenue grew 7.6 per cent to Rs 4,450.3 crore from Rs
4,134.2 crore. The company reported no exceptional gains this quarter, compared to Rs 55.69
crore in the previous quarter.
Gland Pharma (Rs 2028.00) :- Gland Pharma saw a 26 per cent decrease in profit to
Rs 143.8 crore from Rs 194.1 crore, despite a 16 per cent increase in revenue to Rs 1,401.7 crore
from Rs 1,208.7 crore.
EIH (Rs 389.00) :- EIH reported an 8.8 per cent decline in profit to Rs 96.8 crore from Rs
106 crore, with revenue growing 5.7 per cent to Rs 526.5 crore from Rs 498.1 crore.
GR Infra (Rs 1601.00) :- The construction company has emerged as the lowest bidder
for establishing a transmission scheme for the integration of Tumkur-II REZ in Karnataka.
Fortis Healthcare (Rs 489.00) :- The company witnessed a 40.4 per cent increase in
profit to Rs 173.98 crore from Rs 123.95 crore, with revenue rising 12.1 per cent to Rs 1,858.9 crore
Chambal Fert (Rs 522.00) :- Chambal Fertilisers and Chemicals saw a 32.4 per cent
increase in profit to Rs 448.3 crore from Rs 338.6 crore, despite a revenue decline of 11.7 per cent
to Rs 4,933.2 crore from Rs 5,589.3 crore.
Suzlon Energy (Rs 76.00) :- Suzlon Energy to acquire a 76 per cent stake in Renom
Energy Services from the Sanjay Ghodawat Group in two tranches, beginning with a 51 per cent
stake for Rs 400 crore and an additional 25 per cent stake within 18 months for Rs 260 crore.
Financial Weekly TM

NHPC (Rs 97.00) :- NHPC's Q1 consolidated profit grew by 1.2 per cent to Rs 1,108.5
crore, up from Rs 1,095 crore a year ago, but revenue fell 2.3 per cent to Rs 2,694.2 crore from Rs
2,757.3 crore.
NTPC (Rs 410.00) :- NTPC Renewable Energy has launched the first 60 MW phase of its
150 MW Gujarat Solar PV project in Radhanpur, Gujarat, bringing NTPC's total installed and com-
mercial capacity to 76,134 MW.
Aboott India (Rs 27217.00) :- Abbott India's profit increased by 13 per cent Y-o-Y to Rs
328.01 crore from Rs 290.2 crore, with revenue up 5.3 per cent to Rs 1,557.6 crore from Rs 1,479
crore.
Marico (Rs 653.00) :- Marico reports improved operating conditions in Bangladesh, with
most of its retail sales force and distributors resuming operations after a brief interruption. Manufac-
turing operations are expected to resume soon.
Godrej Cons (Rs 1444.00) :- Godrej Consumer Products saw a 41.4 per cent increase
in profit to Rs 450.7 crore, up from Rs 318.8 crore Y-o-Y, despite a 3.4 per cent decline in revenue
to Rs 3,331.6 crore from Rs 3,448.9 crore. The company also declared an interim dividend of Rs 5
per share.
Welspun Corp (Rs 656.00) :- Welspun Corp reported a 47.2 per cent increase in profit
to Rs 247.9 crore from Rs 168.5 crore, despite a 22.9 per cent drop in revenue to Rs 3,137.2 crore
Balaji Amines (Rs 2225.00) :- Balaji Amines saw a 32.7 per cent plunge in profit to Rs
45.6 crore from Rs 67.7 crore, with revenue declining 17 per cent to Rs 384.7 crore from Rs 463.7
crore.
Lemon Tree Hotels (Rs 119.00) :- Lemon Tree Hotels saw a 26.9 per cent drop in
profit to Rs 20.1 crore in Q1FY25 compared to Rs 27.5 crore last year (Q1FY24), despite a 19.5 per
cent increase in revenue to Rs 268 crore from Rs 224.2 crore.
Gujarat Pipavav (Rs 230.00) :- Gujarat Pipavav Port's profit surged 61.7 per cent Y-o-
Y to Rs 109.7 crore from Rs 67.8 crore, with revenue rising 14.5 per cent to Rs 246 crore from Rs
214.9 crore.
ITD Cementation (Rs 559.00) :- ITD Cementation India's profit jumped 91.4 per cent
Y-o-Y to Rs 100.2 crore from Rs 52.3 crore, with revenue increasing 30 per cent to Rs 2,381.5 crore
TVS Supply Chain Solutions (Rs 189.00) :- TVS Supply Chain Solutions has
secured a new contract from JCB in India to manage warehousing and logistics operations at
JCB's Vadodara facility for three years.
* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month • All stocks rates / indices on 2nd August, 2024 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 TM

Paramount Communications Ltd
CMP - Rs. 80.4; BSE: 530555 NSE: PARACABLES
Corporate SCAN
Paramount Communic ations Limited (BSE: 530555, NSE:
PARACABLES), established in 1955, is a prominent player in India's
wire and cable industry, producing high-quality products for various
infrastructure segments. It is engaged in manufacturing of Wires and
Cables comprising of power cables, telecom cables, railway cables
and specialised cables.
The management further added, "We are pleased to report robust
financial and operational performance for Q1FY25, highlighting the
strength of our business model and strategic initiatives. Our strong
operational execution and solid business fundamentals led to notable
achievements across key financial metrics.
In Q1FY25, our company saw significant revenue growth, with
revenue from operations reaching Rs. 3,210.6 Mn, an increase from
Rs. 2,105.4 Mn in Q1FY24, marking a Y-o-Y growth of 52.5%. This
impressive growth was driven by robust demand for our products in both domestic and international markets, with a healthy recovery in the USA
markets. We are optimistic about maintaining this growth trajectory throughout FY25, bolstered by our strategic initiatives and market expansion
efforts. Our strategic initiatives to enhance operational efficiencies have yielded positive results, leading to a notable increase in our EBITDA
margin from 8.7% in Q1FY24 to 9.2% in Q1FY25. Specifically, our EBITDA grew from Rs. 185.1 Mn in Q1FY24 to Rs. 299.1 Mn in Q1FY25,
marking a 61.6% Y-O-Y growth. This underscores the strength of our business model and our ability to adapt effectively to market conditions.
Our PAT for Q1FY25 improved significantly by 74.1%, increasing from Rs. 145.3 Mn in Q1FY24 to Rs.253.0 Mn in Q1FY25. The substantial
repayment of ARC debt has notably strengthened our balance sheet, resulting in a healthier financial position. Our debt repayment has also
enhanced our financial flexibility, allowing us to invest more aggressively in growth opportunities to prepare us for next phase of growth.
We are pleased to inform our stakeholders that we have fully repaid all outstanding obligations to Invent Assets Securitisation & Reconstruc-
tion Private Limited (Invent), including the dues originally owed to the State Bank of India (SBI) and acquired by Invent.
The business environment is highly favorable, driven by rising demand in railways, power, renewable energy, and telecommunications,
which is fueling our growth and expansion. Increased government spending and private investments in infrastructure and construction are
benefiting the cable and wire industry. Our robust order book, balanced export-domestic sales mix, and successful presence in the USA B2C
market have been pivotal to our performance. Our diverse product portfolio and commitment to technology and innovation enable us to address
the growing needs of the construction and power distribution sectors. With promising industry prospects and rising demand for high-quality
products spurred by infrastructure development, renewable energy investments, and telecom advancements, we are well-positioned to capital-
ize on these opportunities and enhance our market share. Our expanding order book, currently stands at Rs. 5,558.0 Mn, reflecting strong client
confidence and reinforcing our outlook for sustained growth, underscoring the strength of our client relationships and our ability to consistently
meet our commitments.
Overall, our progress during Q1FY25 has been robust, setting a solid foundation for continued growth throughout FY25. We remain
committed to driving operational efficiencies, expanding our market presence, and delivering value to our stakeholders. The favorable business
environment and increasing demand across various sectors provide a promising outlook for our company as we navigate the opportunities and
challenges ahead."
Paramount Communications Limited, founded in 1955, stands as a prominent player in wire and cable Industry, renowned for its high-quality
products across diverse infrastructure segments. With advanced facilities in Rajasthan and Haryana, Paramount offers a comprehensive
product range of over 25 distinct products and 2,500 SKUs. The company holds a three-star export house status from the Government of India
and has catered to more than 600 institutional clients. Its extensive network includes over 150 channel partners, 250+ retail locations, and
collaborations with over 7,000 electricians. Paramount's adept and experienced R&D team positions it as a prominent and dependable player in
the industry.
***
Financial Weekly TM

Stock Market danger is not yet over
Col Ajayastromoneyguru
This week of calendar year 2024 is represented by planet known as Rahu and
year 2024 represented by planet known as Saturn.
This week Venus & Mercury are together, Mars and Jupiter are also together,
As per Astro Economics this week tea ,coffee , pharma , fertilizer sector should
be under focus. Our advance prediction made in previous week Jayshree tea
2.5% up trend under volatile market. previous week highest volatility was seen
big down trend was seen as per our alert. Geo political tension generated in
Middle East as per advance alert.
Now as per Astro Economics stock market is still under alert mod. Investors
need to alert for investment this week also. This week keep Eyes on Chambal
fertilizer, India Cement for research only on these stocks. The above recommen-
dations are purely for research purpose, take advice for your financial advisor for
taking any financial decision.

Financial Weekly TM

Senior Astrologer
Dharmesh Joshi
Nifty Predictions ; 12-7-2024 to 16-8-2024

" Please consider 10 minutes plus and minus in each prediction, and act accordingly. " Ganesha ad-
vises you to compare every prediction with the prediction of the previous time slot. " Hey pals! Book is
available; order your personalised book as soon as possible from the link below.
12-08-2024 Monday
" Trading Holiday - Independence Day - August 15, 2024 " 9.15 to 12.00 Nifty jobbing the up side of the
surface. " 12.00 to 14.00 Nifty mix pattern, adopt "trend is our friend" strategy. " 14.00 to 15.00 Nifty
remains down. " Last 30 minutes Nifty Slight comes into recovery mode.
13-08-2024 Tuesday
" It is a perfect day for intraday.... so buy and sell frequently and get good money. " 9.15 to 9.45 Adopt a
wait and watch strategy. " 9.45 to 11.45 can be called strength in Nifty. " 11.45 to 12.30 suddenly comes
down. " 12.30 to 13.45 Nifty can be called steady to up side. " From 13.45 closing bell goes down step by
step but support is found in last few minutes.
14-08-2024 Wednesday
" Momentum is visible in Bank Nifty today and tomorrow, so strategize accordingly. " Avoid long posi-
tions, BTS. " Get started with P&L preparation today. " Buy Nifty around 9.25, exit around 10.35. "
Short around 11.20, exit around 14.34.
15-08-2024 Thursday
" There will be a holiday in the market today.
16-08-2024 Friday
" Slot - 1 = 9.15 to 11.35 Nifty up. " Slot - 2 = 11.35 to 13.23 Nifty has frequent trend changes, forming a
zigzag graph like electricity. " Slot - 3 = 13.23 to 14.50 Nifty remains down. " Slot - 4 = 14.50 to 15.30 Nifty
up.
Financial Weekly TM

Sigachi Industries Ltd
BSE: 543389 NSE: SIGACHI; CMP - Rs. 60.9
Reports Stellar Earnings for Q1FY25, EBITDA Jumps 28% YoY
Corporate SCAN
Sigachi Industries Limited. (BSE: 543389, NSE:
SIGACHI), a leading pharmaceutical company en-
gaged in Active Pharmaceutical Ingredients, qual-
ity excipients, vitamin mineral nutrient blends, and
O&M services, in its board meeting held on 06 Au-
gust 2024 announced its audited financial results
for the quarter ended 30 June, 2024.
For the quarter ended 30 June 2024 (Consoli-
dated), the company reported Revenue from op-
erations at Rs. 957 Mn, a growth of 13% YoY. The
EBITDA jumped 28.05% YoY, from Rs. 164 Mn
(Q1FY24) to Rs. 210 Mn (Q1FY25). EBITDA mar-
gin grew 250 bps, from 19.40% to 21.90% (Q1FY25). PAT grew 17.43% YoY, from Rs. 109 Mn (Q1FY24),
to Rs. 128 Mn (Q1FY25).
For the year ended 31 March 2024, the company saw a 32.08% growth in its revenue from operations,
growing from Rs. 3020 Mn (FY23) to Rs. 3989 Mn (FY24). EBITDA grew 30.49% YoY, from Rs. 587 Mn
(FY23), to Rs. 766 Mn (FY24). EBITDA margin stood at 19.20%. PAT recorded a robust growth of 31.19%
YoY, from Rs. 436 Mn (FY23), to Rs. 572 Mn (FY24).
Sigachi Industries Limited, publicly listed company on NSE & BSE, is a globally recognized pharmaceu-
tical company known for its unwavering commitment of delivering Active Pharmaceutical Ingredients, high-
quality excipients, vitamin mineral nutrient blends, and O&M services. With over 33 years of industry expe-
rience, Sigachi has emerged as a trusted partner for pharmaceutical and nutraceutical companies spread
across 62 countries. The company's diverse product portfolio is manufactured in 5 multilocational facilities
present in Telangana, Gujarat and Karnataka which are certified with global standard certifications like
WHO GMP, EXCiPACT GMP, ISO, KOSHER, HALAL & many others. Being headquartered in Hyderabad,
Sigachi Industries Limited has subsidiaries in US and Middle East.
***
Financial Weekly TM

News Track
Lincoln Pharmaceuticals Ltd

reports Standalone Net Profit of Rs. 23.67 crore
in Q1FY25, growth of 24.51 % Y-o-Y
Lincoln Pharmaceuticals Limited, one of India's leading healthcare
companies has continued to report excellent operational and finan-
cial performance for Q1 FY 2024-25 ended 30th June 2024. Com-
pany has reported a standalone net profit of Rs. 23.67 crore for the
Q1 FY 2024-25 as compared to the net profit of Rs. 19.01 crore re-
ported in Q1 FY2023-24, growth of 24.51% Y-o-Y. Total income for
the quarter ended June 2024 was reported at Rs. 157.69 crore, higher
by 10.03 % Y-o-Y over total income of Rs. 143.31 crore ssin Q1
FY2023-24. EBITDA for Q1FY25 was reported at Rs. 33.14 crore as
compared to EBITDA of Rs. 28.41 crore in Q1FY24, growth of 16.65
% Y-o-Y. EPS for Q1FY25 was at Rs. 11.37 per share.
During FY24, Net Profit of the company rise 28.6% Y-o-Y to Rs. 93.37 crore, EBITDA up 20.3%
to Rs. 134.33 crore and Total Income rise 15.43% to Rs. 614.97 crore. For FY24, company has
reported its Best-ever results in a financial year with highest - Revenue, EBITDA and Net Profit.
With focused growth strategies and business expansion plans for value added products and
expanding to newer markets, company is targeting revenue of Rs. 750 crore in FY26. As of June
2024, Foreign Institutional Investors (FIIs) have also steadily raised their holding in the company to
3.95% from 1.74% as on June 2023.
Mr. Mahendra Patel, Managing Director, Lincoln Pharmaceuticals Limited, said, “Company has
delivered exceptional operational and financial results in the first quarter of the fiscal year 2025.
Both domestic and export operations have shown robust growth. We are confident to enhance
profitability and margins going forward while sustaining strong growth trajectory. With a pipeline of
new product launches for both domestic and international markets, coupled with strategic expan-
sion into new territories, company aims to strengthen its market position and achieve its revenue
target of Rs. 750 crore by the end of the fiscal year 2026.”
Financial Weekly TM

News Track
Asian Granito India Ltd reports

Consolidated Net Sales increased by 3%
YoY to Rs. 343 Cr in Q1FY25
Asian Granito India Limited (AGL),
one of the largest Luxury Surfaces and
Bathware Solutions brands has reported
significant improvement in the opera-
tional and financial performance during
Q1 of FY 2024-25 ended 30th June
2024.
Consolidated Highlights: - Q1
FY25 Results : The Company has reported a consolidated net profit of Rs. 0.3 crore for Q1FY25
ended 30th June 2024 as compared to the net loss of Rs. 3.6 crore in Q1FY24. Consolidated net
sales for the first quarter of FY24-25 reported growth of 3% to Rs. 343.2 crore as against net sales
of Rs. 334.8 crore in QI FY23-24. EBITDA for Q1 FY25 stood at Rs. 16.1 crore (EBITDA Margin
4.7%) as against EBITDA of Rs. 9.6 crore (EBITDA Margin 2.9%) in QI FY24.
Standalone Highlights: - Q1FY25 Results : The Company has reported a standalone net
profit of Rs. 4.6 crore for the Q1FY25 ended 30th June 2024 as compared to the net profit of Rs. 5.6
crore for in Q1FY24. Standalone Net sales of the company in Q1FY25 was reported at Rs. 277.6
crore as against net sales of Rs. 292.7 crore in Q1FY24. EBITDA for Q1FY25 stood at Rs. 7.9 crore
(EBITDA Margin 2.8%) as against EBITDA of Rs. 3.8 crore (EBITDA Margin 1.3%) in Q1FY24,
growth of 108% Y-o-Y. Exports for the Q1FY25 was reported at Rs. 43.9 crore, rise of 5% Y-o-Y as
compared to export of Rs. 41.8 crore in Q1FY24.
Commenting on the results and performance Mr. Kamlesh Patel, Chairman and Manag-
ing Director, Asian Granito India Ltd said, "The Company has commenced the financial year
with enhanced operational and financial performance in Q1FY25. Looking ahead, the company
remains optimistic and is poised for significant growth in the coming years. Strategic initiatives
such as the Morbi expansion, the AGL demerger, focus on retail presence, showroom expansion
and the appointment of Ranbir Kapoor as brand ambassador demonstrate the company's strong
commitment to growth and its aspiration to become a global brand. With a steadfast commitment to
thought leadership, the company aims to achieve a total revenue of Rs. 6,000 Crore, driven by a
visionary long-term strategy."
Financial Weekly TM

News Track
Apollo Micro Systems Ltd
Announces Stellar Earnings for Q1FY25, PAT Grows 410% YoY
Apollo Micro Systems Ltd. (BSE: 540879, NSE: APOLLO), a pioneer in Design, Development
and assembly of Custom-Built Electronics and Electro-mechanical solutions, has reported its earn-
ings for quarter ended 30 June 2024.
For the quarter ended 30 June 2024 (Consolidated), the revenue from operations grew 58%
YoY, from Rs. 5769.05 Lakhs (Q1FY24) to Rs. 9120.15 Lakhs (Q1FY25). The EBITDA grew 77%
YoY, from Rs. 1296.43 Lakhs (Q1FY24) to Rs. 2295.41 Lakhs (Q1FY25). PAT jumped 410% YoY,
to Rs. 842.87 Lakhs.
Earlier, the board approved raising of upto Rs. 264.61 Cr through the issue of convertible war-
rants at a price of Rs. 108 per warrant. Promoter group is amongst allotees, along with certain
identified members of non-promoter group. FPIs Eminence Global Fund, North Star Opportunities
Fund & AG Dynamic Funds are amongst proposed allottees.
Recently, the company announced that it received a project from the Indian Army. Apollo Micro
Systems Limited is shortlisted keeping in view the capability and was awarded Make II project by
the Indian Army. This project is for the procurement of a Vehicle Mounted Counter Swarm Drone
System (VMCSDS) (Version I) under the Make II category of DAP-2020. This project is very pres-
tigious and first Make II project for the Company. The company is happy to share that the systems
developed out of it are 'state of the art' and highly futuristic in nature. As a Make II project, there will
be no cost obligation involved.
Currently, AMS operates a 55,000 sqft manufacturing facility, with two additional facilities of
40,000 sqft and 3,50,000 sqft under development. These expansions will significantly enhance its
manufacturing capabilities, supporting increased production and meeting growing demand. AMS
boasts over 700 on-board technologies and is actively involved in more than 150 indigenous pro-
grams and 60 DcPP programs as a sub-system partner.
Apollo Micro Systems (AMS), established in 1985, is a pioneer in Design, Development and
assembly of Custom Built Electronics and Electro-mechanical solutions. AMS offer solutions based
on state-of-the-art technologies for Aerospace, Defense & Space as primary customers and also
caters solutions for Railways, Automotive and Home Land Security markets. The company is into
development of Indigenous technologies and is one amongst the first companies in Hyderabad
working for Department of Space and Defence, offering design services. Its wide spectrum of tech-
nological solutions and end to end design, assembly & testing capabilities gives it an edge over
the competition. The company offers End-to-End Design, assembly and testing services. It has a
pool of engineers who demonstrate their design, engineering capabilities and offer Product Life
Cycle Support. Its Engineering Services team offers Build to Specifications (BTS) and Build to
Print Services(BTP).
Financial Weekly TM

News Track
PC Jewellers Ltd.'s
One Time Settlement Proposal Accepted by Indian Bank
PC Jeweller Ltd. (BSE: 534809, NSE: PCJEWELLER), one of the leading and fastest-growing
jewellery retail chains in India, has announced that Indian Bank has conveyed its approval to the
One Time Settlement ("OTS") proposal submitted by the Company. The Company had opted for
OTS to settle the outstanding dues. The terms and conditions of approved OTS include cash and
equity components payable under settlement, release of securities and mortgaged properties etc.
Recently, IDFC First Bank, Bank of Baroda, Canara Bank and Indian Overseas Bank had also
approved a One Time Settlement approved by the company.
Earlier, the company announced that its board approved raising of funds up to Rs. 2705 Cr by
preferential issue of fully convertible warrants, at an issue price of Rs. 56.20 per warrant, in accor-
dance with ICDR Regulations and other applicable laws subject to approval of Members and other
necessary regulatory, statutory and other approvals, as may be applicable.
The promoter group News Track Garments Pvt Ltd, Balram Garg (HUF) and Pooja Garg are
amongst proposed allotees. Further, multiple Foreign Investors such as Elara India Opportunities
Fund, Capri Global Holdings Pvt Ltd., Aries Opportunities Fund, etc. are amongst proposed allotees
within the non-promoter group.
PC Jeweller Ltd. embarked on its journey in 2005 with the inauguration of its first showroom in
Karol Bagh, New Delhi. The company's vision was to redefine elegance, allure, and style through
exquisite jewellery. Today, PC Jeweller stands as one of the fastest-growing jewellery retail chains
in India, with showrooms in multiple cities across over 17 states.
Since its inception, PC Jeweller has been a pioneer in design, with each product crafted to
perfection. Whether it is elaborate wedding jewellery or affordable everyday wearables, PC Jewel-
ler has consistently produced exceptional designs of unmatched quality. Over the years, their time-
less pieces have transformed intimate moments into cherished lifetime memories.
PC Jeweller's business model focuses on establishing large-format, standalone showrooms in
prime high-street locations. These stores offer a diverse range of jewellery across all price points,
with a growing emphasis on diamond jewellery. The company is committed to selling only hall-
marked jewellery and certified diamond pieces, ensuring quality and purity. This dedication, coupled
with transparent and customer-friendly policies, has swiftly established PC Jeweller as a trusted
and respected brand.
From the sourcing of raw materials to the sale of the finished product, the company's processes
are integrated and meticulously aligned. The company closely maps customer preferences and
manufactures products that cater to diverse tastes, ensuring customers are spoilt for choice. Through-
out the production process, stringent quality measures are in place to guarantee the purity, value,
and finish of each piece. PC Jeweller also offers expertise in customized and personalized de-
signs, allowing customers to create their perfect jewellery pieces.
PC Jeweller's remarkable journey has been marked by sustainable customer initiatives and
unparalleled quality that has garnered loyal customer support. With a blend of contemporary and
classic designs aimed at longevity, the company is dedicated to providing the best buying experi-
ence, whether through their online platforms or physical showrooms.
As PC Jeweller continues to draw inspiration, their commitment remains steadfast: to create the
most desired jewels and to provide an unparalleled shopping experience.
Financial Weekly TM

News Track
Mufin Green Finance Ltd.
Board to Consider Fund Raise on August 13
Mufin Green Finance Ltd., an NBFC focused on electric vehicle (EV) financing, has announced
that its board will meet on August 13 to consider Raising of funds through issue of foreign currency
denominated bonds under the framework External Commercial Borrowings (ECB) or any other
eligible instruments through private placement basis or such other permissible mode or combina-
tion thereof subject to approval of the applicable regulatory authorities.
The company will also announce its earnings for quarter ended 30 June 2024. Earlier, the com-
pany had announced allotment of non-convertible debentures, raising a total of Rs. 22 Cr.
The company is present in 14 states in North India, with financing options for EVs across two,
three-, and four-wheelers. It believes plans to reach states in South India will help it achieve its
target
'We believe it is the right time for people to transition to greener vehicles at all commercial
operations having a fleet of conventional internal combustion engine (ICE) vehicles," Pankaj Gupta,
CEO of Mufin Green Finance Ltd. added.
The company is currently focused on financing every element of the EV ecosystem, including
two- and three-wheelers, four-wheelers, fast chargers, swappable batteries and similar products to
mobilise electric vehicles in the country for both retail and fleet operators. Mufin has partnered with
companies like BluSmart, Battery Smart, Alt Mobility, OHM, Alti Green, Piaggio Yatri, Mayuri, Saarthi,
Citylife, Arzoo and many more drivers of EV Ecosystem.
"We hope to increase the funding for three-wheeler auto's as well as four-wheelers in a massive
way once the cost of borrowing gets into single digits," he added.
The company is also planning to expand four-wheeler leasing, but borrowing costs in this seg-
ment are elevated at around 11%. "Competing with large banks at this pricing is the biggest chal-
lenge for NBFC like us," he said.
Earlier, Mufin Green Finance Ltd. Board Approved Fund Raise Via Preferential Issue. The Com-
pany is looking to Raise up to Rs. 140.25 Cr, subject to approval from members and other relevant
authorities.
Mufin Green Finance Limited, is a 100% focused on Environment and Social Governance fo-
cused financing products, to begin with currently focus is on India's fastest growing electric vehicle
industry. EV market in India is estimated to be US$206 billion opportunity by 2030 and is growing
at booming rate of 36% CAGR year on year. Mufin Green intends to contribute to 4-5% market
share of the business by 2030.
Mufin Green Finance is the first EV Pure Play listed company, with an Equity Capital base of
158 cr. Since its inception, we are a leading EV financier with a presence across 14 states, 150+
cities, and growing. 24191+ borrowers and electric vehicles worth ?350 crores on the road are just
the initial few feathers in its hat. With the goal to create an environmental, economic and a social
impact with its efforts, Mufin Green Finance has reached an AUM of >250 crores with 240+ team
members.
Mufin Green Finance Ltd is a subsidiary of Hindon Mercantile Limited, and it prides itself on
having a solid foundation and a dedication to excellence in climate finance solutions. Together
with its parent company, the organization envisions a future where collective efforts generate equal
opportunities for income generation and pave the way for a climate-sustainable planet.
Financial Weekly TM

Performance of “SMART PLUS NEWS LETTER”
Amazing 21% RETURN of our last News Letter Recommendation
SMART GAIN FOR SMART INVESTORS
Company Reccom. High after Ch. Company Reccom. High after Ch.
12-8-24 Recomm. (%) 12-8-24 Recomm. (%)
HDFC Life 707 709 0.28 Sun Pharma 1732 1736 0.23
United Spirits 1421 1461 2.81 PCBL 376 402 6.91
IFB Ind. 1948 2083 6.93 Rossar Bio 909 915 0.66
Pidilite 3133 3167 1.09 Websol Energy 606 735 21.29
Excel Ind. 1353 1405 3.84 Zomato 262 265 1.15
HG Infra 1594 1623 1.82 INOX Wind 170 171 0.59
Jubilant Ingrevia 640 658 2.81 Everyday 413 414 0.24
Zydus Life 1251 1279 2.24 Ind Swift Lab. 166 174 4.82
If you want to get benefit of it..... Subscribe

SMART PLUS NEWSLETTER publishing on Every Sunday Evening
Log on to..... www.smartinvestment.in
Financial Weekly TM
REVIEW OF Smart Bonanza

Issue No. : 16 • Date : 7-8-2024
Company Reccom. High after Ch. Company Reccom. High after Ch.
7-8-24 Recomm. (%) 7-8-24 Recomm. (%)
IDFC First Bank 71 72 1.41 Torrent Pharma 3213 3332 3.70
TBZ 141 164 16.31 Cera Sani 9850 10353 5.11
Mother Wiring 70 71 1.43 Maruti 12126 12213 0.72
INDRAMEDCO 311 325 4.50 Ramco Cement 824 836 1.46
Aster DM 378 398 5.29 Shriram Fin 2916 3010 3.22
BLS Intl 384 399 3.91 IFB Ind 1801 1963 9.00
UPL 535 547 2.24 SML Issuzu 2126 2198 3.39
Triveni Turbine 618 690 11.65 ICICI Pru 721 731 1.39
Schneider 787 827 5.08 TVS Motor 2489 2527 1.53
Chemfab Alkalis 878 935 6.49 SMS Pharma 286 292 2.10
SRF 2486 2537 2.05 Angel One 2055 2152 4.72
HDFC Bank 1603 1642 2.43 Deepak Nitrite 3015 3053 1.26
for more detail click the below link

https://smartinvestment.in/service/9
Financial Weekly TM
TM
Financial Weekly
Editor : Dilip K. Shah
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GAMC No. :1703/2021-23. Issued by SSP Ahd. Valid up to 31-12-2023

FII ACTIVITY (Rs. in Cr.)

Most Popular Webstie for the Stock Market Investors

Click on our website : www.smartinvestment.in

GAMC No. :1703/2021-23. Issued by SSP Ahd. Valid up to 31-12-2023

According to the Indian Newspaper Society,

11th August 2024 to 17th August 2024 4

11th August 2024 to 17th August 2024 5

11th August 2024 to 17th August 2024 6

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

11th August 2024 to 17th August 2024 7

Positron‘s ‘Gas on Positron Energy IPO Details

clude the following: (1)

11th August 2024 to 17th August 2024 8

Mr. Manav Bahri

Positron Energy Limited is coming out with an SME IPO. It will

11th August 2024 to 17th August 2024 9

Consolidation with a Bearish Bias

:::: INDEX LEVELS ::::

11th August 2024 to 17th August 2024 10

*Slow steady depreciation

11th August 2024 to 17th August 2024 11

11th August 2024 to 17th August 2024 12

MODI 3.0 STRONG PORTFOLIO PICKS

Protean eGov : Protean eGov Technologies is engaged in

bangles, a brand that offers a tantalizing blend of modern and traditional

Kellton Technology : Kellton Tech Solutions Ltd of-

11th August 2024 to 17th August 2024 13

OnMobile : Mobile entertainment and gaming company, OnMobile

EKC : Everest Kanto Cylinder Ltd is engaged in the manufacturing of

11th August 2024 to 17th August 2024 14

In all the recommendations made by us, the first target is achieved.

11th August 2024 to 17th August 2024 15

Scripts for Buy:

Book Profit in Cash Segment Script if you have bought

KFin Tech 1100

August Future Buy:

Scrip Name CMP Buy in the Range SL Target

August Future Sell:

Scrip Name CMP Sell in the Range SL Target

11th August 2024 to 17th August 2024 16

Broach Lifecare Hospital IPO Details

11th August 2024 to 17th August 2024 17

11th August 2024 to 17th August 2024 18

11th August 2024 to 17th August 2024 19

11th August 2024 to 17th August 2024 20

11th August 2024 to 17th August 2024 21

obviously in their going up or down as the case may be.

before investing in any stocks.)

11th August 2024 to 17th August 2024 22

Download our app

11th August 2024 to 17th August 2024 23

Corporate Feature Solve Plastic Products IPO Details

11th August 2024 to 17th August 2024 24

11th August 2024 to 17th August 2024 25

11th August 2024 to 17th August 2024 26