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Only Financial Weekly Published in English & Gujarati Page
53
GAMC No. :1703/2015-17. Issued by SSP Ahd. Valid up to 31-12-2017

VOL : 11 • Issue No: 18 RNI No : GUJENG / 2008 / 24320 17th June, 2018 to 23rd June, 2018
○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○
FII Activity (Rs. in Cr.)

Date Buy Value Sell Value Net Value
11-06-18 4017.16 5173.93 -1156.77
12-06-18 4243.13 5412.01 -1168.88
13-06-18 4765.75 4836.52 -70.77
14-06-18 4320.09 5692.93 -1372.84
15-06-18 9785.23 11309.97 -1524.74
Total 27131.36 32425.36 -5294
DII Activity (Rs. Cr.)
11-06-18 4192.89 3130.07 1062.82
12-06-18 4286.05 2958.6 1327.45
13-06-18 4093.19 3606.41 486.78
14-06-18 3132.59 2556.4 576.19
15-06-18 4396.02 3835.01 561.01
Total 20100.74 16086.49 4014.25
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Financial Weekly
SMART 17th June, 2018 to 23rd June 2018 5

INVESTMENT
Financial Weekly

INVESTMENT
Smart SME Stocks - Dilip K. Shah
SME Stocks worth Keeping in Mind

Shares of Sanginita Chemicals and Yash Chemex have gone up significantly after our recom-
mendation. Yash Chemex had got listed on June 20, 2016, and will soon complete two years
since it listed. It has achieved the norms required, and is likely to be listed on the main-board
platform soon. The share can be seen in three digits. Many other companies presently listed on the
SME platform are also likely to shift to the main-board platform in the coming days. Investments in
SME stocks with a long-term perspective can yield attractive returns.
IRIS Business (Rs. 50.75) (Code: 540735) (Lot size: 4,000) :- Established in
2000, Iris Business provides software products for compliance, data and analytics. Its clients in-
clude Central Bank, SEBI and stock exchanges. The shares had got listed on October 11 at the
issue price of Rs. 34. It had touched a high of Rs. 79.25 and is presently trading at Rs. 50.75. Noted
investor Madhu Kella has a significant stake in this company.
Umiya Tubes (Rs. 113.00) (Code: 539798) (Lot Size: 1,250) :- Promoter hold-
ing has gone up from 61.75% to 62.28%. This SS Pipes and decorative pipes company has de-
clared bonus issue in the ratio of 1:3, for which the record date is June 20. The shares had listed at
Rs. 10.50 on April 1, 2016, as against the issue price of Rs. 10. The share touched a 52-week high
of Rs. 130.
Chemcrux Enterprise (Rs. 37.50) (Code: 540395) (Lot Size: 4,000) :- An ISO
9001: 2008 and ISO 14001: 2004 certified company, Chemcrux is a manufacturer of intermediates
for bulk drugs, dyes and pigments. It has the capability for development and execution of high
pressure oxidation, nitration, chloro sulphonation, etc. Its products are exported to US, Egypt, and
Europe. It had issued shares at a fixed price of Rs. 18 in March 2017, while shares were listed at
Rs. 21. The share touched a high of Rs. 52.90, before correcting to the current levels. Promoter
holding in the company is 72.94%. It can be included in the portfolio for attractive returns in the long
term.
Airolam (Rs. 48.80) (NSE SME) (Lot size: 3,000) :- Airolam is a manufacturer of
high pressure decorative laminates. It has its plant at Himmatnagar in Gujarat. It has stock points in
Mumbai, Bengaluru and Hyderabad, and a large distributor network in several states. Its products
are also exported to UAE, Syria, Kuwait, Bangladesh, Dubai, Singapore, Iran, etc. Its products are
sold under the Airo, I-lam, Clarico, and iLite brands. Investors can see their money at least tripling
in two years. The shares were listed at Rs. 45 in October 2017 as against the issue price of Rs. 38.
The shares touched a high of Rs. 59 and low of Rs. 38.
Disclosures as per SECURITIES AND EXCCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may have investment in this
stocks • I/My family have no financial interest or beneficial interest of more than 1% in the company whose stocks I am recommending • Stop loss is useful for Short
/ Medium Term investor Only • Smart Investment will not be responsible / liable for any loss arising out of investment based on tis advices • Past performance may or
may not be substainedin future " (Dilip K. Shah) Research Analyst : SEBI Regn No. : INH000002152
Financial Weekly

INVESTMENT
Bombay SUPER Hybrid Seeds

gives SUPERB return
Corporate Feature
Bombay Super Hybrid Seeds Limited had

entered into the capital market barely two
months ago. The stock had got listed with 10
per cent return on very first day. Within two
months, the stock has doubled and investors
are SUPERB return. The company had is-
sued share with a price of Rs.60 per share
and now the stock has been trading at
around Rs.120 level. Even at current level,
the stock looks attractive as the future is very
The stock has doubled within two months of
bright for the seeds industry as a whole and
its listing on NSE SME platform. The stock
the company in particular. Bombay Super
was issued at Rs.60 per share and now it is
Hybrid Seeds Limited is Leading Seeds
trading at Rs.120 level
manufacturing company. It is an ISO
For the FY2017-18, company’s net profit
9001:2008 certified Company. It mainly deals
increased by 38 % from Rs. 85.17 Lakhs to
into Groundnut Seeds, Onion Seeds, Wheat
Rs. 117.84 Lakhs as compared to
Seed, and all types of vegetable seeds are FY 2016-17. Its EPS grew up to 3.12
included. It has product portfolio of 120 prod- from 2.54 as compared to FY 2016-17
ucts, which is one of the largest in the state.
It is spread in the large area of 1,50,000 sq. Commenting on results, Mr.
Pintoobhai, Managing Director
feet on National Highway 8-B, near Rajkot. of BSHS, said that ‘Being in
The company is holding the most vivid infra- Seeds & Agriculture industry
since 1983 and ISO 9001-2015
structure pan Asia region. certified company, our company
Bombay Super Hybrid Seeds has re- has been successful over de-
cades in offering best quality
ported much better results for the year
products and bringing welfare to
2017-18. Revenue of the company for fi- the farmers and the society, and
nancial year 2017-18 marked at 84.47 planned to bring more and
more evolution in Seeds & Ag-
Crores.PBT For FY 17-18 increased by 41 riculture industry in all aspects.
% from Rs. 128.69 Lakhs to Rs. 181.05 Lakhs as compared to FY 2016-17. Net profit in-
creased by 38 % from Rs. 85.17 Lakhs to Rs. 117.84 Lakhs as compared to FY 2016-17. With
respect to increase in earning of the company, EPS for FY 2017-18 has also remarkably
grew up to 3.12 from 2.54 as compared to FY 2016-17.
Financial Weekly

INVESTMENT
Honour and Pride for Bombay Super Hybrid Seeds Ltd.
- Best SME Award Under Agriculture Category by Small Enterprise Business Expo &
Award,2018 organized by Aspire Media Pvt, Ltd. On 17th May 2018
- Product Portfolio of more than 120 products, which is considered as largest product
portfolio in Pan Gujarat.
- More than 300 distributors all around India
- Ultra Modern Seed Processing unit spreaded in total 85,000 Sq. ft
- Cold Storage facility of 5000 Matric Tonne
- Research & Development Farm spreaded in 25 acres
Commenting on results, Mr. Pintoobhai, Managing Director of BSHS, said that ‘Being in Seeds
& Agriculture industry since 1983 and ISO 9001-2015 certified company, our company has been
successful over decades in offering best quality products and bringing welfare to the farmers and
the society, and planned to bring more and more evolution in Seeds & Agriculture industry in all
aspects. With these focused efforts, I am confident that Bombay Super Hybrid Seeds Limited shall
deliver Competitive, Consistent and Cash Accretive Growth in the coming years. Further , we be-
lieve in growing together and would like to thank all the contributories for their immense trust on
company to achieve this height of Success.’
Company has signed MoU with ICRISAT for accessing global Groundnut and Chik Pea
germplasm. This has enable for short and medium duration cultivation of Groundnut with high
Yield and Bold Seeds. In an another development, the company has established machines from
Buhler, Switzerland which differentiate seeds on the basis of size, colour, gravity, etc.
Seed Storage facilities were constructed in such a way that without much use of high electricity
consuming cold storage plant, it can be stored and viability can be extended. This has been done
by mix of knowledge of its ancient temperature control process with addition of modern structures.
Financial Weekly

INVESTMENT
World Seed Congress held at Brisbane, Australia

Recently, World Seed Congress was organized by International Seeds Federation in
Brisbane, Australia. It is a is flagship event which brings together the principal archi-
tects and decision makers of the global seed industry.“This unique forum for developing
industry knowledge and networks, and negotiating trade agreements has been bringing
seed people together worldwide. It was held from 3-6 June,2018. It was ttended by more
than 1200 delegates from countries like USA, Germany, Argentina, Netherland,
Switzerland,France, Japan,China, Australia,New Zealand,India etc. Mr. Pintoobhai, MD
of Bombay Super Hybrid Seeds Limited, was also one of the delegates who had partici-
pated in this global event.
Bombay Super Hybrid Seeds Limited possesses Sales Licenses of Leading States of India,
including Rajasthan, Gujarat, Delhi, Maharashtra, Karnataka, etc. in this way, under the brand-
name of 'BOMBAY SUPER SEEDS', business is carried out in domestic markets and Foreign
Countries as well. Along with this, the company's product portfolio includes more than 120 prod-
ucts, which makes Bombay Super Hybrid Seeds Limited, 'The Company with Largest Products
Portfolio pan Gujarat.'
The company is spread in around 25 acres of land which is very close to National highway-8.
The infrastructure includes the 'Seeds Processing Unit', 'Company's own Cold Storage with the
Storage Capacity of 5000 M.T.' and 'High Tech Registered Office of the Company'. In upcoming
years, Bombay Super Hybrid Seeds Limited will be well known as the India's No.1 Seeds Com-
pany - says Managing Director Mr. Pintubhai Patel. Along with this, the vision of company states
that Bombay Super Hybrid Seeds Limited want to make all the technology across the world for
seeds and agriculture sector, available within India and give the benefit of this technology to as
more farmers as possible.
***
Financial Weekly

INVESTMENT
Rapid Fire Stocks

- Kalpna J (Email- Kjtech79@gmail.com) (Ring : 97690 37711) Twitter : @Kj_TechTrades
Cholamandalam Investment and Finance Company Ltd.

(Short Term Multibagger)
Buy at CMP 1611, Targets - 1665-1770, Time Frame - 3 to 9 months
TRIGGERS :
1) Cholamandalam Investment & Finance Company Ltd's Q4FY18 standalone net profit has
increased by 32.54% yoy to Rs291cr which is much above the Estimated profits and Company is
expected to deliver 24% earnings CAGR over
FY18-20E, led by Asset Under Management growth at 19.5% CAGR and improvement in asset
quality, valuing at 3.8x FY20E Price to book value. The company’s standalone Net Interest Income
stood at Rs917.50cr, up 35.83% yoy and 15.7% qoq
2) Cholamandalam Investment to set-up housing finance company which will boost the Net
Interest Income
3) Strong Fundamentals with regular Dividends every 6 months, 20% Foreign Promotor Hold-
ing
Cont....
Financial Weekly

INVESTMENT
Cholamandalam Investment and Finance Company Limited (Chola), incorporated in 1978 as
the financial services arm of the Murugappa Group. Chola commenced business as an equipment
financing company and has today emerged as a comprehensive financial services provider offer-
ing vehicle finance, home loans, home equity loans, SME loans, investment advisory services,
stock broking and a variety of other financial services to customers.
Chola operates from 873 branches across India with assets under management above INR
42,900 Crores. The subsidiaries of Chola are Cholamandalam Securities Limited (CSEC),
Cholamandalam Home Finance Limited (CHFL) and White Data Systems India Private Limited
(WDSI). The vision of Chola is to enable customers enter a better life. Chola has a growing clien-
tele of over 8 lakh happy customers across the nation. Ever since its inception and all through its
growth, the company has kept a clear sight of its values. The basic tenet of these values is a strict
adherence to ethics and a responsibility to all those who come within its corporate ambit - custom-
ers, shareholders, employees and society.
Financial Weekly

INVESTMENT
TVS Motors (Investment Mantra)

Buy at CMP - 582 , Targets - 635 to 680 , Time Frame - 5 to 12 Months
TVS Motor Company is the third largest two-wheeler manufacturer in India, with a revenue of
15129 Cr INR (2017-18). The company has an annual production capacity of 4 million 2 wheelers
& 120,000 3 wheelers.
TVS Group spans across industries like Automobile, Aviation, Education, Electronics, Energy,
Finance, Housing, Insurance, Investment, Logistics, Service and Textiles. Has over 90 Compa-
nies under the umbrella. TVS Motor Company Ltd (TVS Motor), a member of the TVS Group (Rev-
enue around INR. 40,000 Cr ), is the largest company of the group in terms of size and turnover.
For the quarter ended 31-03-2018, the company has reported a Standalone sales of Rs 3992.76
Crore, up 8.35 % from last quarter Sales of Rs 3684.95 Crore and up 40.37 % from last year same
quarter Sales of Rs 2844.50 Crore Company has reported net profit after tax of Rs 165.61 Crore in
latest quarter. --
Latest updates on Rapid Fire Stocks

Financial Weekly

INVESTMENT
SMART
BUY OF THE WEEK
Dark Horse
PANASONIC ENERGY INDIA CO. LTD

(504093) (306) (Face Value Rs.10)
Founded in 1972, Baroda based Panasonic Energy India Co. Ltd. manufactures and supplies
dry cell batteries and lighting products in India. The Company is a part of global Panasonic Corpo-
ration, world's leading manufacturer of audio-visual equipments, home appliances, electronic com-
ponents, automotive electronics and environmental systems. The Company is a leading manufac-
turer and supplier of Zinc carbon, Alkaline, Lithium, Rechargeable batteries and lighting products.
Company has an established and wide sales network that includes 2 manufacturing units, state of
art technology, distribution centers, numerous stockiest and thousands of retailers across India.
The Company is a pioneer in Metal Jacketed Dry battery, high performance pencil battery, Zinc-
Chloride technology and eco friendly batteries in India. It serves industrial suppliers; defense, rail-
ways, and public sector units; and OEMs.
It has an equity base of Rs.7.50crore that is supported by reserve of Rs.95.07crore. The Promot-
ers (Japan's Panasonic Corporation) hold 58.06% while the investing public holds 41.94% stake
in the company. It is debt free company.
For Q4FY18, PAT zoomed 64.10% to Rs.2.56crore from Rs.1.56crore in Q4FY17 on sales of
Rs.51.19crore fetching an EPS of Rs.3.42. During FY18, PAT jumped 56.3% to Rs.9.80crore from
Rs.6.27crore in FY17 on sales of Rs.210.83crore fetching an EPS of Rs.13.06.
Currently, the stock trades at a P/E of 23x while peer Company Eveready Industries Ltd's stock
trade at a P/E of 34x.
It is regularly dividend paying company & it has declared 70% dividend for FY18 against 55% of
FY17.
Its 52 week high rate is Rs.412.60 which was formed on 24th November 2017. Stock almost
corrected 26% from 52 week high.
Investors can accumulate this stock with a stop loss of Rs.275. It may give very good returns in
medium to long term.
Cont...
Financial Weekly

INVESTMENT
RUCHIRA PAPERS LTD

(532785 & NSE) (117.6) (Face Value Rs.10)
Incorporated in 1980, Ruchira Papers is a Yamuna Nagar based company, which manufactures paper
and paper products. The company is engaged in the process of manufacturing writing and printing paper and
Kraft paper. Ruchira Papers' white writing and printing paper is used to make notebooks and writing material,
while the colored paper is used in the fabrication of spiral notebooks, wedding cards, shade cards, children's
coloring books, colored copier paper and bill books. Its Kraft paper is utilized in the packaging industry for
making corrugated boxes/cartons and for other packaging requirements. The company's writing and printing
paper is manufactured by using agricultural residues like wheat straw, bagasse, sarkanda and other materi-
als. Its semi Kraft paper is manufactured by using agriculture residues like bagasse, wheat straw, rice straw,
sarkanda and indigenous materials, etc. The company offers its products to customers in India and over-
seas. The Company's equity is Rs.22.42crore while company has huge reserve of around Rs.169crore.
Promoters hold 61.14% while investing public hold 38.86% stake in the company. Well-known investor "DOLLY
KHANNA" hold 1.66% stake in this company. During FY18, PAT rose 19.31% to Rs.38.24crore from
Rs.32.05crore in FY17 on higher sales of Rs.450.64crore fetching an EPS of Rs.17.05. During the Q4FY18,
the Company has undertaken implementation of Modernization program me at Kraft Paper unit, which re-
sulted in lesser production equivalent to 25 days of Kraft Paper unit. Company has spent almost Rs.32crore
in this modernization program. Currently, the stock trades at a P/E of just 6.9. Its PAT has grown 44% CAGR
in last 3 years so PEG ratio is 0.15 which is highly undervalued. It is regularly dividend paying company & it
has declared 22.5% dividend for FY18. For FY18, company has achieved total production of 115424 MT and
they are expecting production of 133000 MT in FY19 after modernization. Company has already purchased
107.5 acres of land in Punjab and they are in the process of acquiring another 80 acres land for next expan-
sion. For FY18 EBITDA margin for writing printing paper was 22.96% and for Kraft paper was 7.82%. In FY19
management is expecting EBITDA margin for writing printing paper should be around 23-24% and for Kraft
paper should be around 11-11.5%. On 16th February 2018, Angel Broking Ltd has published research report
on Ruchira Papers Ltd at Rs.188 price with the target of Rs.244. Its 52 week high rate is Rs.219.8 which was
formed on 15th January 2018. Stock almost corrected 45.5% from its 52 week high.
Investors can accumulate this stock with a stop loss of Rs.100. It may give very good returns in medium to
long term.
Nayan Patel
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& INVESTMENT & GET INFORMATION REGARDING MARKET
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Financial Weekly

INVESTMENT
TRADNICAL STRATEGY
Email: nimesh@nimeshthaker.com, M. 9228237373
NIMESH THAKER, BARODA
Sebi Registered NO. : INH000005874
There is shade of sun in the sky and also in the market

Market signal are indicating both bulls and bear direction
In the past week, volatility was seen in a small range in the market as I said in the last week that
Nifty has its important Resistance area at 10875-10925 and after reaching that zone, the Nifty
decreased by almost 150 point in the last two days from the level of 10892. I believe that crude
prices are showing a sharp decline in the international market, which can support the Indian mar-
ket.
Technical chart's indicating signal of trend reversal in Nifty, but yet its confirmation is still to
come. So to-say that the negative trend will start from this level ie from 10900 it is too early because
a short, medium and long-term trend indication bullishness.
On option data, the highest open interest position is build in the 10700 put option and the call
option of 11000. Viewing both of these positions, trader should keep eye on important for the level
of 10660 for their long positions. I expects closing above 10925 level Nifty can test 11000 levels
speedily.
With Keeping in mind all the above data, I believe that the buy position should taken in the Nifty
between the level of 10750-10700 with stop loss below 10660 and target of 10920-10990. You
can contact 9228237373 to get advice about your investment
PEL: Buy
Buy Range: 2450-2500
Target: 2670-2700 Stop Loss 2390
Allocation: 10% of Trading Capital
Double bottom structure has confirm on daily chart indicates trend reversal of short term trend.
The stock has seen fresh open interest build up on long side. I expect stock to test 2670-2700 level
in short term hence recommend to buy 10% of your trading capital between 2450-2500 zone.
Financial Weekl
eekly y
Every Sunday Every Wednesday
English & Gujarati Edition Gujarati Edition

Financial Weekly

INVESTMENT
Nifty & Sensex Movement during the last week

NSE - Nifty Open High Low Close Diff
11-Jun-18 10781.85 10850.55 10777.05 10786.95 19.3
12-Jun-18 10816.15 10856.55 10789.4 10842.85 55.9
13-Jun-18 10887.5 10893.25 10842.65 10856.7 13.85
14-Jun-18 10832.9 10833.7 10773.55 10808.05 -48.65
15-Jun-18 10808.65 10834 10755.4 10817.7 9.65
Net Weekly Gain 50.05
Sensex Open High Low Close Diff
11/06/18 35,472.59 35,704.84 35,444.49 35,483.47 39.80
12/06/18 35,525.30 35,743.08 35,479.07 35,692.52 209.05
13/06/18 35,835.44 35,877.41 35,715.96 35,739.16 46.64
14/06/18 35,743.10 35,749.88 35,488.55 35,599.82 -139.34
15/06/18 35,656.26 35,675.20 35,419.68 35,622.14 22.32
Net Weekly Gain 178.47
BULLISH INDIA
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MARKET RESEARCH HOUSE ENDS HERE
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Financial Weekly

INVESTMENT
Jatin Sanghavi
Market Scan (Mumbai)
(M) 098205 26455
jatinsanghavi100@yahoo.com
TESTING THE UPPER BOUNDARY OF

TRADING RANGE
NIFTY SUPPORT AT 10722-10698 :- Volatility made a comeback this week when Nifty tested
the upper end of its short term trading range between 10900-10550. Nifty is likely to find support at
10722-10698, a break of which can lead Nifty to test the lower end of the trading range. An expan-
sion beyond the lower end will lead the Nifty to test the higher bottom at 10417. It is seen as very
strong support as there is a strong confluence of Retracement levels along with the 200dma. A
break on the upside of the trading range, will lead the Nifty to test the previous top of 11171 and
beyond. Mid-cap 50 (5026) as expected continued its relief rally; a close above confluence zone of
5134-5145 will be the first signal that a bottom formation might be in place.
TECHNICALLY SPEAKING :- Sensex opened the week at 35472, made a high of 35877, low
of 35419 and closed the week at 35622. Thus it closed the week with a gain of 179 points. At the
same time the Nifty opened the week at 10781, made a high of 10893, low of 10755 and closed the
week at 10817. Thus the Nifty closed the week with a gain of 50 points.
On the daily charts, Nifty has formed a small white body candle with a long lower shadow indi-
cating buying at lower levels, whereas Sensex has formed a similar formation with a small black
body. Nifty has formed a Bullish Harami whereas Sensex has formed a Homing Pigeon, both of
which can be considered a Bullish Reversal once we get a confirmation. On the weekly charts,
once again for the fourth week running, both the indices have formed a small white body but which
is in the trading range of the big black candle formed four weeks back. Thus daily charts are hinting
This Weeks Recommendations

Rec. Name CMP SL TGT-1 TGT-2
Buy PageInd 26613 26000 27563 28338
Buy JubFood 2765 2715 2841 2919
Buy Infosys 1281 1256 1319 1361
Buy GlenmarkPh 586 574 605 625
Buy STAR 392 384 405 419
:::: INDEX LEVELS ::::
S3 S2 S1 CLOSE R1 R2 R3
NIFTY 10550 10631 10722 10817 10929 11009 11117
SENSEX 34302 34874 35278 35622 35993 36443 36778
Cont...
Financial Weekly

INVESTMENT
at a bullish bias in the near term whereas weekly charts remain undecided.
Both the indices have left behind a Bullish Gap last week between Sensex 35278-35230 and
Nifty 10722-10698. This Gap will act as Support in case of any drop in the indices.
Few weeks back, both the indices completed a Bullish Rounding Bottom pattern on the daily
charts. It is a Bullish pattern and the target as per that falls at Sensex 36737 and Nifty 11311.
Mid-Cap 50 Index (5026) continued with recovery and touched a high of 5098 for the week. It
will face strong Resistance Zone at 5134-5145 which is due to the confluence of 200dma and
Retracement levels. A Trend Reversal will occur only if Mid-Cap 50 closes above 5365.
Both the indices had a Weekly Bearish Gap between Sensex 34874-35006 and Nifty 10702-
10736. This Gap was aided by 61.8% Retracement of the current fall (Sensex - 34931 and Nifty
10706), which is a Reversal level. This week, both the indices have closed not only above the
Weekly Bearish Gap but also above their Reversal level of Sensex 34931 and Nifty 10706. Thus if
it remains above the Reversal zone, then the indices will target the previous top.
This week, both the indices remained above the short term average of 20dma (Sensex - 35145
and Nifty 10676), medium term average of 50dma (Sensex - 34898 and Nifty - 10637) and even the
long term average of 200dma (Sensex - 33740 and Nifty - 10399). Thus the trend in short term,
medium term as well as in the long term timeframe continues to remain Upwards.
MACD and Price ROC are both positive and in Buy mode. RSI (59) suggests bullish momen-
tum. Stochastic Oscillator %K (81) is below %D and hence in Sell mode. ADX has fallen to 17,
suggesting a sideways consolidation and no strength in trend. Directional Indicators are in Buy
mode as +DI is above -DI. MFI (53) suggests Positive Money Flow. OBV continues in sideways
mode. Thus Oscillators suggest a bullish bias.
Options data for June series indicate highest Call Open Interest is at the strike of 11000 whereas
the highest Put build-up is at the strike of 10700. Thus Options data suggests a trading range with
resistance at 11000 & support at 10700.
Financial Weekly

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

Positive Bias is what we concluded in last week of article for all our Smart Investment readers.
The same positive bias is continued and Nifty broke the upside range of 10800 kind of levels which
we believed was important. The last session of last week suggested that Nifty had a buying emerged
from the lower levels of the day i.e.10755 and hence 10755 should be our stop loss for the bullish
view on Nifty. Nifty has active range up to 10945 kind of levels and we don't seem to have any good
reason why Nifty can't go to that level as of now. Nifty's bullishness to continue is a good news for
all the portfolio holders. Everyone holding a portfolio may have feeling about why their portfolio is
not moving compare to how Nifty moves. It is correct feeling as Nifty has supports coming in from
various sectors on every single day and the same sector is not repeating. Nifty Pharma is perform-
ing very well but somehow it has not created any formations that can give higher targets until now
however the upside momentum in Pharma is a good news for the sector which is constantly mak-
ing lower tops and lower bottoms. Currently the Pharma spot is threatening it's falling trend line
and only after the trend line breach is done with positive EMAs spread of long term EMA group, we
will start getting stock specific opportunites.
RISING STAR : BalrampurChini Mills (73.95)

NSE: BALRAMCHIN, SECTOR: Sugar
Cont...
Financial Weekly

INVESTMENT
RISING STAR : Balrampur Chini Mills (73.95)

NSE: BALRAMCHIN, SECTOR: Sugar
While Nifty is suggesting good move from that of sluggish move earlier, we too have started
finding the stocks which are seeming to be bottomed out. One such stock is Balrampur Chini Mills.
It is needless to say that this company is listed in stock market from about 2 decades i.e. 20 years
now. The stock price in about last 19/20 years have seen all ups and downs but stock price has
never gone so low to its 200 DSMA in vertical distance than it had gone only in the time of 2008
crash. Even if we see the price move of last about 4 to 5 years, we can see that price only has a
strength to go away from 200 DSMA either up or down exactly as Magneta vertical line as shown in
the chart. It is the same distance price took in 2016 away from 200 DSMA and in 2017. Currently
even greater vertical distance is traveled away from 200 DSMA not above but below 200 DSMA by
the price. So price has run down its momentum count completely in our way of IT Delight theory of
technical analysis. That means price doesn't have more strength to below that level. Price is also
holding above long term support line. If at all we belive that price can't go further away from 200
DSMA then we can consider current long term support line as our stop loss and 200 DSMA as our
first target. i.e a Bullish view can be created with SL 60 and target at 125 for the time period of
roughtly an year. If one's investment advisor agrees for such a risk then one can enter for a great
reward in this stock.
Jignesh R Mehta
SEBI Registered Research Analyst
www.kiranjadhav.com
support@kiranjadhav.com
Phone: 9327 11 33 44 / 9328 11 33 44
Twitter: @jigneshrmehta
Disclosers: Views expressed in this article/articles are personal opinion of Author and it does
not constitute an offer to buy or sell securities mentioned herein. Enough care has been taken
before arriving at these data, figures & charts, however, readers are advised to do their own as-
sessment before taking any actions in the market. The author and his company does not take any
responsibility for any results that may arise out of using this information.
Financial Weekly

INVESTMENT
- Parag Salot
Technical Trading Trends (SEBI Registered Research Analyst)
M. : 91-9930011789
Nifty Overview : In Last Trading Session, Nifty closed at 10738. Nifty will be positive
above 10765 and will be negative if it closes below 10595.
Bank Nifty Overview : In Last Trading Session, Bank Nifty closed at 26432. Bank Nifty
is very much in a range and in between. Risky trade would be to buy now for TGT 26600/
26800 with SL 26250.
Last Recommendation Review

Scrip Name BSE Buy/ Enter Did High/ Remark
Code Sell at Low
Adani Ent 512599 Buy 116 126 Did High
Bank of India 532149 Buy 93 101 Target Achieved
BHEL 500103 Buy 73 78 Did High
Glenmark 532296 Buy 516 562 Target Achieved
PNB 532461 Buy 82 91 Target Achieved
Trading Buy
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Adani Ent 512599 126 118/120 126 135 113
Ajanta Pharma 532331 974 940/950 970 1000 920
Bank of India 532149 100 92/95 105 120 88
Jet Airways 532617 398 393/398 415 435 385
Union Bank 532477 95.6 88/92 100 110 84
Wockhard 532300 690 660 680 700 640
Trading Sell
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Jubilant Food 533155 2676 2740/2750 2710 2680 2775
M&M 500520 910 955/960 935 905 975
Note : All calls are momentum calls based on technical analysis and all levels as per future prices (If scrip not
available in futures then BSE Cash price). All these calls are given based on daily charts but intra-day signals are
equally important to enter the trade in a timely manner. Timing is very important and we at shareinfoline.com give you
timely calls based on intra-day charts. Read Disclaimer at ShareInfoline.com
Financial Weekly

INVESTMENT
Stock Buzz Subramanian Mahadevan

dolphincapital@gmail.com
Karur Vysya Bank Limited (Rs.104)

Focused Lending!
Karur Vysya Bank (KVB) - is one of the mid-sized banks in the private sector space, operates
through a network of 790+ branches with more than 2,300 ATMs and cash recyclers. KVB's busi-
ness - 82% is concentrated in South India with about 73% of its branch footprint in Tamil Nadu and
Andhra Pradesh. As of 4QFY18 the total business stood at INR 1029bn. The bank is capitalized
with a total CAR of 14.4% (Basel III). Gross NPAs were reported at 6.56% with provision coverage
ratio (PCR) of 56.5%. The bank has a diversified loan book and it is working towards increasing
the share of its granular exposure through better adoption of technology. It is consciously bringing
down the average ticket size of its corporate as well as commercial banking exposure. Internal risk
management is being strengthened to improve the quality of the portfolio. The focus is clearly on
risk adjusted growth and it expects a near-term growth in the mid-teens.
The new CEO (ex- Citi banker) is focusing on new hires, technology implementation and risk
management to give the institution a more agile and modern look.Asset quality issues might linger
for a quarter or two, but the problem is nearing an end. Given that it is well capitalized, KVB can
strengthen its presence in the segments where PSU banks are giving up market share. The attrac-
tive valuation at 1.1 times FY19 book and 1.4 times FY19 adjusted book makes it an ideal candi-
date for accumulation with a potential to give atleast 50% returns in two years' time frame.
Idea Cellular Limited (Rs. 60.00)

Signal Strong!
Idea Cellular Limited (Idea) - an Aditya Birla Group company, is India's third largest wireless
operator with a revenue market share of more than 20%. Idea is a leading GSM mobile services
operator in India with over 72 million subscribers under brand IDEA, operates in all the 22 telecom
circles of which 15 are classified as established service areas and 7 as new service areas. The
company is a pan India integrated GSM operator covering the entire telephony landscape of the
country and has NLD and ILD operations. Idea offers affordable and world-class mobile services to
varied segments of mobile users besides basic voice and short message service (SMS) services
to high-end value added and general packet radio service (GPRS) services such as Blackberry,
Datacard, Mobile TV and Games. In 2015 Microsoft has tied up with Idea Cellular to launch opera-
tor billing on the Windows Store for latter's subscribers. Idea has successfully retained the crucial
900 MHz spectrum and won 54 MHz of 900 MHz spectrum. Videocon Telecommunications sold its
spectrum in Gujarat and UP (West) circles to the company at a valuation of Rs 3310 crore during
the same year. Idea launched world-class high-speed 4G& 4G LTE services in all four Telecom
service areas of South India. Post big-bang entry of Reliance Jio and unceremonious death of
regional operator - Aircel and national player - Reliance Communication, forced the telecom in-
dustry for consolidation enabling Vodafone and Idea to join hands for merger. Pricing power will
emerge sooner than later where existing players with good network will continue to make money.
Buy now and hold on for two years to make up to 100% returns.
Financial Weekly

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

E-mail ID : rohan.nalavade21@gmail.com
10896 - Major resistance for Nifty

Last week market moved forward from 10700 to 10896 levels and profit booking was seen at
higher levels of 10896 levels now unless this major top no further up move and 10666 is forming a
major support market will move between this swing and then after fresh sharp movement can be
seen,pharma sector gave good upside movement and metal looks steady bank nifty midcaps are
showing weakness ,next week we have important gann date which will set a major trend ,market is
moving in a range as last week weekly close of Nifty was 10768 ,nifty below 10800 which is impor-
tant gann square will show weakness and belowc10768 will show fast downside movement to-
wards 10700 levels next week Nifty has to close above 10860 for fresh upside movement ,till then
it will have selling pressure till 10700 10680,
Bank nifty will see selling pressure 26610 till 26400 and below 26400 2600 can be seen only
above 26700 index will gain strength for fresh highs ,next week is very important W.D.Gann price
and time date ,so lot of big action will be seen next week
Stocks to watch out
Sell adani port below 378 for 368 sl 381
Sell icici bank belowc287 for 277 sl 281
Sell infosys below 1240 for 1200 sl 1260
Buy Tata global above 274 for 286 sl 269
BUY.... BUY....BUY TIPS OF THE WEEK

Co. Name Code Price Co. Name Code Price
Kwality 531882 29.00 VEdanta 500295 238.00
STEL Holdings 533316 97.00 Garware Wall 509557 1027.00
Bharat Gears 505688 176.00 Godrej Ind. 500164 615.00
NCC 500294 107.00 Wockhardt 532300 732.00
Gabriel 505714 148.00 Torrent Pharma 500420 1480.00
Ashok Leyland 500477 142.00 Mind Tree 532819 1003.00
Megma Fin. 524000 171.00 Bharat Forge 500493 641.00
Tata Global 500800 272.00 Infosys 500209 1280.00
Mah. CIE 532756 256.00 NIIT Techno 53241 1132.00
Orient Ref. 534076 181.00 Rane Holding 505800 2140.00
JK Tyres 530007 128.00 Tata Elxsi 500408 1305.00
Mah. Seamless 500265 455.00 TCS 532540 1841.00
TCI 532349 287.00
DIL 506414 3550.00
Financial Weekly

INVESTMENT
Technical News : 18-6-2018 to 22-6-2018

Manu Consultants : Manishkumar - Kolkata
SEBI REG:- RESEARCH ANALYST- INH300002449
• NIFTY FUTURE
NIFTY FUT SUPPORT AT 10400-10100 AND RESISITANCE 10880-11000
STRATEGY :- BUY BANK NIFTY ON DIPS TILL 26100 SL 25800 TA 27000-400
STOCKS F&O :-
INDIAN BANK (347):- BUY INDIA BANK ON DIPS TILL 340 SL 334 TA 360-74
CADILLA (400):- BUY CADILLA ON DIPS TILL 390 SL 385 TA 416-20
INDIGO (1115):- BUY INDIGO ON DIPS TILL 1090 SL 1075 TA 1140-65
BEML (872):- BUY BEML ON DIPS TILL 860 SL 845 TA 900-40
SELL STOCKS
SELL CENTURY ON RISE TILL 930 SL 945 TA 890-65
SELL DLF ON RISE TILL 207 SL 212 TA 194-85
DELIVERY STOCKS
BUY VENKYS SL 2200 TA 3000-3200
DISCLAIMER :- The Recommendations are based on technical analysis. There is a risk of loss
in trading.Please visit website www.dallalstreet.org for full disclaimer and disclosures.
Buy... Buy... Buy on Dips Hold Sell on High

Aarti Drugs 627.00 Federal Bank 84.00
GSPL 187.00 BOB 131.00 Sun Pharma 571.00 MRPL 89.00
RCF 78.00 Adani Enterprise 132.00 Future Retail 556.00
Dish TV 72.00 Just Dial 568.00 SBI 277.00
SRF 1901.00
Kesoram Industries 93.00 Coal India 279.00 ONGC 165.00
RIIL 1013.00
Suprajit 264.00 Cox & Kings 213.00 PNB Hsg. Fin. 1096.00 Navkar Corp. 142.00
I. B. Real 170.00 Tata Motors 303.00 Jindal Steel 234.00
Mirza Intl. 117.00
Thomas Cook 279.00 HDFC Bank 2030.00 Wipro 266.00
Jamna Auto 91.00
Marico 338.00 HCL TEchno 947.00 Union Bank 90.00
GTPL Hathway 125.00 Berger Paints 291.00 M&M 908.00 Siemens 997.00
Hind. Tin 81.00 KEC Intl. 360.00 Escorts 916.00 Dynamic Cable 39.00
Ruchi Soya 14.00 J. Kumar Infra 260.00
Financial Weekly

INVESTMENT
Terrific Shots - Dilip K. Shah
Sun Pharma (Rs.569.00) (Code: 524715) :- Baroda-based company is one of the

biggest listed companies on the BSE in A Group. The company having market cap nearly Rs136998
crore has witnessed unimaginable growth in past few years and had increased the shareholders'
capital multiple times. It is active in formulation and active pharmaceuticals. It has sound presence
in foreign lands with Tera and Karako companies. The company's Halol plant in Gujarat has got
USFDA clearance after a long time. In FY2018, the company's sales decreased from Rs30264.23
crore to Rs26065.94 crore, while profit decreased from Rs7846.23 crore to Rs2608.35 crore with
EPS of Rs9. The stock is being quoted at valuable price. The pharma sector is also witnessing
growth after three years. So it is a good chance to buy the stock at lower level of prices.
Garware Wall Rope (Rs.1031.00) (Code: 509557) :- The company was set up in
1976 as a collaboration of Garware and American company Wall Industries. It is pioneer in syn-
thetic cordage industry in India. It is the biggest manufacturer of polymer cordage segment. Its
clients are in 75 countries in the world. The Pune plant is spread over 14 acres and Wai plant is
spread over 29 acres. In FY2018, the company's income increased from Rs865.28 crore to Rs884.61
crore, while profit increased from Rs83.33 crore to Rs105.17 crore. It paid 17% dividend in 2017
and special dividend of 15% on completion of 40 years. It has declared 45% dividend for 2018. The
stock is near all time high, so can be considered for any correction.
KEC Enter (Rs.360.00) (Code:532714) :- The expansion and growth in railway and
power sector may help the KEC International. The flagship company of RPG group is active in
infrastructure engineering, procurement, construction (EPC) along with power transmission, power
system, cables, railway, telecom and water segment. It has presence in 50 countries including
Africa, America, Central Asia, Middle East, South East Asia and South Asia. In March quarter, the
company's income increased from Rs2849.20 crore to Rs3664.17 crore, while profit increased
from Rs145.56 crore to Rs196.31 crore. The company is bagging orders from international markets
and expecting to get new orders from Power Sector. The company's orderbook is very strong and
the profit margins are also increasing. As against equity of Rs51.42 crore, the company has re-
serves of Rs1995 crore. The stock remained between Rs442.6 and Rs209 in last 52 weeks. The
stock can be purchased for medium to long term.
JK Tyre (Rs.128.00)(Code:530007) :- Auto tyre and rubber products manufacturing
company is one of the leading tyre sector companies of the country. It has three plants in Mysore
and one each in Banmore, Kankroli and Chennai. It acquired Keshoram Ind some times back. The
company's Bengaluru plant has become operational. It also holds high place in bus and tractor tyre
manufacturing. Due to high demand in commercial vehicles and cargo fleet, the company's growth
and margins are likely to be high. The company's brownfield expansion may help it to increase the
volume by 15-20%. The company is investing Rs275crore which will increase the manufacturing
capacity from 7.4 lakh tyres to 13.8 lakh tyres. In March quarter, the company recorded net profit of
Rs159.77 crore on net sales of Rs2283.97 crore and other income of Rs113.14 crore. The com-
pany is expecting its sales value to go up by 22% and replacement tyre growth of 5.5%.
Disclosures as per SECURITIES AND EXCCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014 ; • I and / or
my clients may have investment in this stocks • I/My family have no financial interest or beneficial interest of more than 1% in the
company whose stocks I am recommending • Stop loss is useful for Short / Medium Term investor Only • Smart Investment will not
be responsible / liable for any loss arising out of investment based on tis advices • Past performance may or may not be
substainedin future " (Dilip K. Shah) Research Analyst : SEBI Regn No. : INH000002152
Financial Weekly

INVESTMENT
Sarvesh Ashok Trivedi
Stock Wave (Mumbai) (Mob) 09820728124
www.chartsanketstock.com
Important Support for Nifty Future at

10724 and Index at 35350
BSE Index (35622.14) :- It shows rebounding spurt from bottom of 34302.87. It shows overbought
position on daily basis, while towards overbought on weekly and monthly basis. June 20 to 22 may be gain
turning days. On upward movement, beyond 35877 it may witness important resisting level at 35993. On
the downward movement, it may get support at 35350.
Nifty Future (10814.65) :- It shows rebounding spurt from bottom of 10408.55. It shows overbought to
neutral on daily basis, while towards overbought position on monthly and weekly basis. On upward move-
ment, beyond 10850 it may go up to 10880 and 10920 with resisting level at 10947. On the downward
movement, below 10780 it may go down to 10745, 10735 and 10725 with support at 10690.
Bank Nifty Future (2641.55) :- It shows rebounding spurt from bottom of 25550. It shows towards
overbought position on daily basis, overbought to neutral on weekly basis and towards overbought position
on monthly basis. On upward movement, beyond 26500 it may go up to 26580, 26733, 26798 with resisting
level at 27058. On the downward movement, below 26275 it may get support at 26079.
Aurobindo Pharma (613.85) :- It shows rebounding spurt from bottom of 527. It shows overbought
position on daily basis, while neutral on weekly and monthly basis. On upward movement, beyond 621 it
may cross 633 and beyond that it may go up to 637 to 645 and 653. On the downward movement, below
597 it may get support at 590.
Colgate (1219.45) :- It is witnessing profit booking from top of 1269. It shows neutral position on daily
basis, while overbought on weekly and monthly basis. On upward movement, beyond 1237 it may witness
resisting level at 1253. On the downward movement, below 1221 it may get support at 1215.
Divis Labs (1100.95) :- It shows spurt from bottom of 1015.25. It shows neutral position on daily basis,
oversold on weekly basis and overbought to neutral on monthly basis. On upward movement, beyond 1106
it may go up to 1119 to 1133, 1145 and 1167. On the downward movement, below 1080 it may get support
at 1067.
SRF (1902.00) :- It shows sidewave movement after coming down to 1762.10. It shows oversold posi-
tion on daily and weekly basis, while overbought to neutral position on monthly basis. On upward move-
ment, beyond 1925 it may go up to 1933, 1975 and 2025. On the downward movement, below 1878 it may
get support at 1840.
Wockhardt (731.90) :- It shows rebounding spurt from bottom of 626.60. It shows overbought position
on daily basis, neutral on weekly basis and oversold on monthly basis. On upward movement, beyond 740
it may go up to 753 with resisting level at 767. On the downward movement, below 711 it may get support
at 699.
disclosure : The Recommendations are based on technical analysis. There is a risk of loss in trad-
ing.
Golden quote :-
The past can not be changed,
The future is yet in your power
Financial Weekly

INVESTMENT
Dilip Davda Best Buy

e-mail Expert’s Eye KNR Const.,
dilip_davda@rediffmail.com Ovobel Foods,
Tyche Ind.,
Market in consolidation mode

Rate hike by US Fed raises concern
During the week, markets moved in a range bound manner but maintained tempo of gains for
the fourth week in a row. Although due to weak global cues, we marked negative trades for Thurs-
day, gains for other sessions helped market to close in green and thus week turned positive. WPI
inflation rising to fourteen months high above 4.15% kept a tab on general sentiment. Delayed
monsoon will also cast a shadow for a while.
As can be seen from the table below during the week, indices moved in the range of 10893.25-
10755.40 and 35877.41-35419.68 for NSE Nifty and S&P BSE Sensex respectively.
For the week, we marked net weekly gains of 50.05 points for NSE Nifty and 178.47 points for
S&P BSE Sensex.
We witnessed fourth positive week in a row. This week's gain attributed to surge in IT and phar-
maceutical shares. However, weak global cues kept a tab on general sentiments for the week.
Rate hike announced by US Federal Reserve and hinting at continuation of such policy going
forward raised concern. Market witnessed index based trades leading to gains in benchmarks, but
side market turned sluggish and many counters met with new 52 week lows. Trading for the week
started on a positive note. Indices logged small gains on Monday, 11 June 2018 with S&P BSE
Sensex rose 39.80 points or 0.11% at 35,483.47 and Nifty rose 19.30 points or 0.18% at 10,786.95.
Similar trends witnessed on Tuesday as sustained buying demand in index pivotals on Tuesday,
12 June 2018 helped S&P BSE Sensex rose 209.05 points or 0.59% to settle at 35,692.52 and
Nifty rose 55.90 points or 0.52% to settle at 10,842.85. Amid volatility on Wednesday, 13 June
2018 S&P BSE Sensex rose 46.64 points or 0.13% to settle at 35,739.16 and Nifty 50 rose 13.85
points or 0.13% to settle at 10,856.70. On Thursday, 14 June 2018, domestic stocks logged mod-
est losses weighed by negative global cues after the US Federal Reserve raised interest rates and
struck continuation of such policy going forward. S&P BSE Sensex fell 139.34 points or 0.39% to
settle at 35,599.82 and Nifty fell 48.65 points or 0.45% to settle at 10,808.05. India's WPI inflation
rising to a 14-month high in May raised concern. On the final day, key benchmark indices logged
small gains amidst volatile session as S&P BSE Sensex rose 22.32 points or 0.06% to settle at
35,622.14. The Nifty rose 9.65 points or 0.09% to settle at 10,817.70.
During the week dividend announcement came in from Sadhna Broadcast (2.5%), Veritas (5%),
Chokhani Securities (35%), Dynamic Cables (2.5%), Hind Alum Ind (16%), Orient Elect (50%) etc.
During the week rights issue announced by Max Ventures in the ratio of 67 for 66.
During the week scrip turned ex-split included BC Power (5 for 1) and United Spirit (5 for1).
During the week scrip turned ex-bonus in-
During the week Rights Issue cluded LG Bros.(1 for 1).
Dividend announce Max Ventures (67 for 66) Rupee weakened to Rs. 68.01 a dollar by
Sadhna Broadcast (2.5%), Ex-split the week end and raised concern. Crude
Veritas (5%), BC Power (5 for 1)
Chokhani Sec. (35%),
(Brent) eased a bit to 76.01$ a barrel by week
United Spirit (5 for1). end giving shy of relief. After good start, mon-
Dynamic Cables (2.5%),
Hind Alum Ind (16%), Ex-bonus soon appears to be in delaying mode and may
Orient Elect (50%) etc. LG Bros (1 for 1) have barriers on market sentiment for ensu-
Financial Weekly

INVESTMENT
ing week. Sanction by US on China may raise concern on Monday when market reopens for trades.
Market is expected to move in a range bound manner in absence of any major factors. From Mon-
day, reconstituted index will be implemented that will have some bearings on the market mood for
a while.
DIL Ltd to consider bonus issue on 18.06.18, Kwality Ltd. to consider bonus issue and/or buy-
back on 20.06.18.
Amidst such a scenario NSE Nifty and BSE Sensex may hover between 11150-10350 and
36000-34600 respectively for the ensuing week.
Scrip Watch :- Investors may keep following scrip on radar for their investment plans:
KNR Const. (BSE Code: 532942) :- This construction and engineering sector com-
pany has (on a consolidated basis) posted net profit of Rs. 228.95 crore on a turnover of Rs. 2125.39
crore for FY18 against net profit of Rs. 98.75 crore on a turnover of Rs. 1712.54 crore for the corre-
sponding previous period. As on 31.03.18 it's paid up capital of Rs. 28.12 crore is supported by
free reserves of Rs. 1011 cr. plus. It has announced a total dividend of 20%. Scrip may be consid-
ered at declined levels for medium to long term investment. It currently quotes around Rs. 264.00
against 52 week High/Low of Rs. 349/194, FV Rs. 2.
Tyche Ind (BSE Code: 532384) :- This pharmaceutical sector company has reported
net profit of Rs. 5.86 crore on a turnover of Rs. 53.29 crore for FY18 against net profit of Rs 3.08
crore on a turnover of Rs. 44.50 crore for the corresponding previous period. It is back of dividend
list with a 5% dividend. As on 31.03.18 it's paid up equity capital of Rs. 10.25 crore is supported by
free reserves of Rs. 42 crore plus. Scrip may be considered at declined levels for medium to long
term investment. It currently quotes around Rs. 81.00 against 52 week High/Low of Rs. 157/48, FV
Rs.10.
Ovobel Foods (BSE Code: 530741) :- This other food sector company has posted net
profit of Rs. 4.51 crore on a turnover of Rs. 99.97 crore for FY18 against loss of Rs. -3.51 crore on
a turnover of Rs. 81.33 crore for the corresponding previous period. Due to higher other income of
Rs. 16.37 cr. against Rs. 5.22 cr. a year ago period has helped company to be in green. As on
31.03.18 it's paid up equity capital of Rs. 10.50 crore is supported by free reserves of Rs. 4 crore
plus. This turn around scrip may be considered for medium to long term investment. It currently
quotes around Rs. 19.55 against 52 week High/Low of Rs. 33/13, FV Rs. 10.
DISCLAIMER : No financial information whatsoever published anywhere here should be con-
strued as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter
published here is purely for educational and information purposes only and under no circumstances
should be used for making investment decisions. Readers must consult a qualified financial advi-
sor prior to making any actual investment decisions, based on information published here. Any
reader taking decisions based on any information published here does so entirely at own risk.
Above information is based on the details available as on the date along with market perceptions.
Author has not traded in above three stocks mentioned in Scrip Watch during last one month and
has no holdings or plans to invest in any scrip referred above.
(THE AUTHOUR IS SEBI REGISTERED RESEARCH ANALYST) (Email:
dilip_davda@rediffmail.com )
Financial Weekly

INVESTMENT
Scrip Watch - Dilip K. Shah
Mayur Uniquoters (Rs. 443.00) (Code : 522249) (F. V. : 5.00) :- Mayur

Uniquoters’ footwear business continued on its growth recovery path and the company’s high margin
profile remains intact. Its good performance will be continue in the coming years, aided by contin-
ued recovery in the footwear segment, and higher traction in exports. The company has reported
net sales of Rs.140.51 crores during the period ended March 31, 2018 as compared to Rs.134.89
crores during the period ended March 31, 2017. The company has posted net profit of Rs.24.15
crores for the period ended March 31, 2018 as against Rs.18.26 crores for the period ended March
31, 2017.The company has reported EPS of Rs.5.30 for the period ended March 31, 2018 as com-
pared to Rs.3.99 for the period ended March 31, 2017.The company has reported net sales of
Rs.594.92 crores during the 12 months period ended March 31, 2018 as compared to Rs.531.77
crores during the 12 months period ended March 31, 2017.The company has posted net profit of
Rs.96.91 crores for the 12 months period ended March 31, 2018 as against Rs.81.50 crores for the
12 months period ended March 31, 2017.The company has reported EPS of Rs.21.19 for the 12
months period ended March 31, 2018 as compared to Rs.17.69 for the 12 months period ended
March 31, 2017.
Aarti Industries (Rs. 1294.00) (Code : 524208) (F. V. : 5.00) :- Aarti Industries
: Aarti Industries’ topline grew 23 percent YoY led by the pharmaceutical segment (16 percent of
net sales) which posted sales growth of 46 percent. Specialty chemicals (78 percent of sales)
witnessed volume growth of 9 percent YoY in Q4.Higher revenue was supported by pricing effect
due to pass-through of higher crude prices to long term contracts. While raw material cost was a
tad higher, higher employee cost and other expenses weighed on EBITDA margins. Higher ex-
penses were due to cost related to commissioning of new projects. At the segment level, a 500
basis points increase in the operating margin of the pharma segment was remarkable. Aarti indus-
tries’ topline grew by 23 percent on YoY basis mainly led by Pharma segment (16 percent of net
sales) which posted 46 percent YoY sales growth. Largest segment, Specialty Chemicals (78 per-
cent of sales) witnessed volume growth of 9% YoY in Q4.Aarti’s management expects 12-15 per-
cent FY19 volume growth in specialty chemicals led by ramp up in utilisation of nitro toluene facil-
ity from the current 40 percent. In case of the pharma segment, it expects around 20 percent sales
growth. Margins are expected to sustain on account of operating leverage as utilisation improves
and due to receding competition from China. Buy.
FIEM Industries (Rs. 835.00) (Code : 532768) (F. V. : 10.00) :- FIEM is one
of the leading manufacturers of automotive lighting solutions and has been the front-runner as it
was the first one to introduce LED lights for two-wheelers. In addition to automotive lighting solu-
tions, the company also manufactures rear view mirrors, sheet metals parts and plastic compo-
nents. The company has also ventured into LED luminaries for indoor and outdoor applications
and Integrated Passenger Information system (IPIS) for railways and buses.The company gener-
ates most of its business from two-wheeler segment of the automotive industry. FIEM boasts of
having marquee clients in its kitty and services almost 90 percent of OEMs in India. The company
also has formidable clients in LED luminaries and IPIS system. Indian Railways is the big cus-
tomer for the company in IPIS systems. Honda Motorcycle is the largest client with 45 percent
share followed by TVS Motors with 24 percent share. The increasing adoption of LEDs by the
original manufacturers would offer great opportunities for FIEM.
Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may have investment in this
Financial Weekly

INVESTMENT
Market Tips - Dilip K. Shah
Orient Refractorries (Rs. 181.00) (Code : 534076) (F. V. 1.00) :- Orient

Refractories (ORL) manufactures and markets special refractory products and provides systems
and services to the global steel industry. The domestic leader is a global partner for over 500
customers in India and abroad. More than 40,000 tonnes of refractory and customized products
and system solutions are produced per annum. Refractory material is used to provide thermal
insulation in furnaces, kilns and reactors used in the iron and steel, metal, cement and glass
industries.Since acquisition of 69.62% equity stake by RHI, AG, Austria, new standards are being
set through continuous and innovative processes. It is one of the leaders in the world in refracto-
ries. Large domestic integrated steel makers Steel Authority of India, Mukund Steel, Tata Steel,
RINL-Vizag, Sunflag Iron, Lloyd Steel, Usha Martin and the Jindal Group are customers and so
also close to 300 small- to medium- sized iron and steel producers.Its sales jumped 41% to Rs
178.86 crore and net profit went up 54% to Rs 27.46 crore in the March quarter. ORL is expected to
report an EPS of Rs 8.5 in FY 2019. Buy.
Sundaram Finance (Rs. 1723.00) (Code : 590071) (F. V. 10.00) : Sundaram
Finance, the flagship company of the TS Santhanam arm of the TVS Group, is one of the oldest
retail asset financing NBFCs. With a presence across diverse products, its primary focus is on
financing of commercial vehicles and cars. The company, through its various subsidiaries, has a
presence across multiple facets of the financial services industry, including housing finance, asset
management and general insurance. It demerged its non-financial services investments in auto-
motive and manufacturing businesses into a separate company: Sundaram Finance Holdings.It
has demonstrated stable and profitable growth across business cycles, delivering mid-teen return
on equity (RoE) for the past 10 years. The company has a track record of over six decades in the
commercial vehicle (CV) financing business. Asset under management (AUM) stood at Rs 24,734
crore as on March 31. The asset mix is diverse, with commercial vehicles (CVs) accounting for
over half the book. Disbursement increased 19 percent year-on-year (YoY) to Rs 15,632 crore in
FY18 despite facing disruptions caused by demonetisation and implementation of the GST. The
company’s housing finance business is conducted through a joint venture, with BNP Paribas hold-
ing 49.9 percent equity stake. Invest.
Glenmark Pharmaceuticals (Rs. 585.00) (Code : 532296) (F. V. : 1.00) :
Glenmark Pharmaceuticals has received final approval from the US health regulator for generic
versions of Loestrin tablets, used to prevent pregnancy. The approved products are generic ver-
sions of Allergan Pharmaceuticals' Loestrin 21 1.5/30 and Loestrin Fe 1.5/30 tablets. For the 12
months to April 2018, the Loestrin 21 1.5/30 and Leostrin Fe 1.5/30 tablets market achieved annual
sales of approximately USD 24.2 million and USD 41.3 million respectively, Glenmark said, citing
IQVIATM sales data. The company's current portfolio consists of 137 products authorised for distri-
bution at the US marketplace and 61 Abbreviated New Drug Applications (ANDAs) pending ap-
proval with the USFDA.The company's current portfolio consists of 137 products authorised for
distribution at the US marketplace and 61 Abbreviated New Drug Applications (ANDAs) pending
approval with the USFDA.Glenmark Pharmaceuticals reported a consolidated net profit of Rs151.62
crore for the fourth quarter ended March 2018.Revenues stood at Rs2,279.81 crore. As the pharma
stocks are on upward move, Glenmark will also rally. Buy.
Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may have investment in this
Financial Weekly

INVESTMENT
SMART TIPS Smita N. Zaveri
NCC (Rs. 108.00) (Code: 500294) :- Shares of this A Group listed construction and
engineering company have face value of Rs. 2. The shares touched a high of Rs. 141 and low of
Rs. 79 in the last year. Promoter holding in the company is 18.11%. The Hyderabad-registered
company is expected to gain from the central government's focus on infrastructure. The company's
order book grew by 80% in FY 2018. EBIDTA margin for the year increased 457 bps to 12.7%. This
includes a one-time NHAI bonus of Rs. 21 crores. NCC's equity is Rs. 111.19 crores, debt Rs.
1,537 crores, reserves Rs. 3,331 crores, and market cap Rs. 6,459 crores. For the March 2018,
NCC reported income of Rs. 2,395 crores and profit of Rs. 102.71 crores. Geojit has given a 'Buy'
rating on the stock with a target price of Rs. 146.
TCI (Rs. 286.00) (Code: 532349) :- Shares of this company are listed in the B Group,
and have face value of Rs. 2. The share touched a 52-week high of Rs. 349 and low of Rs. 247.
The company is an integrated multi-modal logistics and supply chain solutions provider. It derives
47% of its income from freight, 41% from supply chain solutions, 11% from seaways, and 1% from
rest. The company has wide presence across the country with a large number of offices. It has also
formed joint ventures with Concor, Toyota, Mitsubishi, and other Japanese companies. For March
2018 quarter, TCI reported income of Rs. 605.25 crores and profit of Rs. 32.66 crores. The share is
trading at a PE of 21. The stock can be bought with a target price of Rs. 360-370 in five-six quarters.
Marksans Pharma (Rs. 30.00) (Code: 524404) :- Shares of this A group listed
pharma sector company have face-value of Re. 1. In the last 52 weeks, the shares touched high of
Rs. 52 and low of Rs. 23. Promoter holding is 48.25%. The company is engaged in generic pharma
formulations manufacturing, retailing and marketing. The company's Goa plant has received ap-
proval from the UK as well as Australian health regulator. The company gets 80% of its income
from US operations. It is also gearing up to enter more European countries. For FY 2017-18, in-
come was Rs. 295 crores and profit Rs. 12.43 crores. For March quarter, income was Rs. 87 crores
and profit Rs. 4.33 crores. Its equity is Rs. 51.93 crores, debt Rs. 73.23 crores, reserves of over Rs.
378 crores, and market cap at Rs. 1,244 crores. Centrum Research has given 'Hold' rating on the
stock with a target price of Rs. 31.
Suprajit Engineering (Rs. 263.00) (Code: 532509) :- Shares of this auto parts and
equipment sector company are listed in the B group and have face-value of Re. 1. In the last year,
the shares touched a high price of Rs. 348 and low of Rs. 232. Its annual capacity is 225 million
cables. Its clients include top Indian and some global auto companies. It has 14 plants, including
13 in India and one in UK. The company is now shifting its focus from 2-wheelers to 4-wheelers. It
has got some large orders from Maruti Suzuki, besides companies such as BMW, Audi and
Volkswagen. For March quarter, Suprajit reported income of Rs. 406.40 crores and profit of Rs.
56.34 crores. JM Financial has given a 'Buy' rating on the stock with a target price of Rs. 350.
SEBI Registered Research Analyst)

* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month • All stocks rates / indices on 15th June, 2018 unless
specified o Stoploos is useful for Short - Medium term investors only
* Disclaimer :- • Smart Investment will not be responsible / for any loss arising out of investment based on its recommendation. • Though, every care has been taken,
we will not responsible for any errors / omissions • All disputes are subject to Ahmedabad jurisdiction
Financial Weekly

INVESTMENT
Smart super duper - Dilip K. Shah
Everest Industries (Rs.442.00) (Code:508906) :- Cement, asbestos

sheets and boards and building material manufacturing company's stock has been gathering strength
from sometime because it is associated with rural India which is witnessing growth. In March quar-
ter, the company's income increased from Rs320.66 crore to Rs341.27 crore, while profit increased
from Rs14.09 crore to Rs19.82 crore with EPS of Rs12.45. It paid 50% dividend in 2015 and 2016,
10% in 2017 and 65% in 2018. The government is focusing on rural india so the sector's perfor-
mance may improve. The stock is good option for investment in phased manner.
Maharashtra Seamless (Rs.455.00) (Code:500265) :- It is a flagship
company of DP Jindal Group. It was incubated in 1988 and it came up with IPO in 1991. It manufac-
tures pipes of different types and also has green power capacity. In FY2018, the company's in-
come increased from Rs1429.02 crore to Rs2143.87 crore, while profit increased from Rs115.81
crore to Rs200.12 crore with EPS of Rs31.45. The company may get benefit from large number of
orders being generated in saw pipe segment. It paid 120% dividend for 2018. It is good option for
investment at current price in phased manner.
Deepak Nitrate (Rs.244.00) (Code:506401) :- The company is listed in the
B group with facevalue of Rs2 a share. The promoters hold 44.65% and public hold 55.35% stake
in the company. In FY2018, the company's income increased from Rs1343.50 crore to Rs1651.45
crore, while profit decreased from Rs97.80 crore to Rs79.02 crore with EPS of Rs6. As against
equity of Rs27.28 crore, the company has reserves of Rs894.86 crore. Franklin Smaller Company
Fund owns 4.12%, Reliance Small Cap Fund holds 4.65%, SBI Magnum Multicap Fund holds
1.63%, Fidelity Low Price Stock Fund hold 1.30%, Aditay Birla Pure Value Fund holds 2.99%
stake along with other funds. The company has been reaping benefit of recent expansion. The
stock can be considered for downward movement in near future.
KNR Construction (Rs.264.00) (Code:532942) :- South India based
company has equity of Rs28.12 crore and reserves of Rs1011.14 crore. The promoters hold 55.38%
and public hold 44.62% stake in the company. In March quarter, the company's income increased
from Rs485.11 crore to Rs624.37 crore, while profit increased from Rs52.43 crore to Rs79.74 crore
with EPS of Rs5.67. The company's balancesheet is strong, and order book is also strong. DIIs
hold considerable stake. It has also considerable presence in North East which is on radar of
government's infrastructure projects. The stock has come down from 350 level and may touch 350
level in next 9-12 months.
Financial Weekly

INVESTMENT
A.J. Diwan (Mumbai)
Diwan-E-Khas E-mail : divanconsultancy@rediffmail.com
Nifty 10850 is important

Our markets are in consolidation zone. The uptrend may continue if nifty closes above 10850 in
days to come. After all global events markets went up but could not close above 10850. On upper
side 10880 is possible. On down side 10765 is major support.
Reliance : The share has moved one way and crossed Rs.1000 level.1020 is resistance but
support is at Rs.995.
Dis TV : This company should be watch by investors and Sebi. How Sebi is allowing buying by
big investor at about 33% higher from current price. Normal Investor has limit of 20%/ This very
investor has sold huge quantity of Tata motors at Rs 500. bought forties at Rs.155. We see the
results of both the Scrip. It is good that on Friday. Dish TV has just gone up by Rs 1.50. We feel that
small investors should avoid this share.
Tata Motors has support at Rs.395. Rs.415 is resistance.
Fed rate hike has adverse effect on steel shares. We have seen Tata steel and JSW went down
in last two days. If further rate hike is expected than both share may attract selling pressure on rise.
Sun Pharma went up as in Gujarat plant no U.S. love letter. Rs. 575 is resistance level any fall
buy slowly.
Infosys :- this company is very liberal in giving bonus issues. Last four bonus issues are 2015,
2014, 2006 and 2004.all bonus in ratio of 1; 1. This is silver jubilee year and company may issue
bonus in 2018.
TCS has announced huge buy back. Buy back price should be at least Rs.250/300 higher than
market price.
Index has resistance at 35550.support is at 35350.nifty should remain above 10800 level. Kash-
mir issue is concern for the market. PDP and BJP alliance may not last long as per BJP source.
Tit Bits : - Dish TV is weak below Rs.70, brokerage houses have changed outlook for D-Mart.
Share is expected to come down. UPL is in last leg of uptrend.
Financial Weekly

INVESTMENT
Investment Ideas telegram.me/rupeegains7
NIFTY :- For next week NIFTY has strong support around 10755 levels. Break will take it to
10710 levels. On the upper side NIFTY will face strong hurdle at 10860-10895 levels, cross over
with volume and close above will create short covering at take NIFTY up to 10960 levels…
BANK NIFTY :- For next week BANK NIFTY has strong support around 26285 levels. Break
will take it to 26145-26070 levels. On the upper side BANK NIFTY will face strong hurdle at 26620
levels, cross over with volume and close above will create short covering at take BANK NIFTY up
to 26765-26900 levels…
Friday night crude down sharply may prove highly beneficiary for Indian economy & auto indus-
try. Monday Oil refinery, Auto and Auto ancillary stocks may boom boom.
Monday morning keep on radar TVS MOTOR FUTURE around Rs.578-581 with strict stop loss
of Rs.574.
INVESTMENT IDEAS…
PRESSMAN ADVERTISING LTD

(509077 & NSE) (48) (Face Value Rs.2)
Incorporated in 1983, Kolkata based Pressman Advertising Ltd. operates as an advertising
agency. It has an equity base of just Rs.4.70crore that is supported by reserves of around
Rs.34.25crore. It is debt free company. For Q4FY18, PAT jumped 292% to Rs.2.21crore from
Rs.0.56crore in Q4FY17 on 22.29% higher income of Rs.11.63crore fetching an EPS of Rs.0.94.
PAL is a regular dividend paying company and it has announced 70% dividend for FY18. Cur-
rently, the stock trades at a P/E of 14.1. Its PAT has grown 28% CAGR in last 3 years so PEG ratio
is 0.50 which is highly undervalued. SINCLAIRS HOTELS LTD is a group company of PRESS-
MAN ADVERTISING LTD and it is trading around Rs.400+ levels. Everyone, whose financial
advisor is allowing to trade in this stock for medium to long term can watch with a stop loss of
Rs.42.
SHIVA GLOBAL AGRO INDUSTRIES LTD

(530433) (42.05) (Face Value Rs.10)
Shiva Global Agro Industries Limited, together with its subsidiaries, manufactures and trades in
fertilizers, soil and crop health products, oils, and hybrid seeds in India. It has an equity base of
Rs.9.99crore while it has huge reserve of around Rs.66.58crore. Its book value per share stood
around Rs.66.64 and price to book value stood at just 0.63. It is available 63% lower against its 52
weeks high rate. Company has announced 6% dividend for FY18, it has announced dividend first
time after FY13.
Everyone, whose financial advisor is allowing to trade in this stock for medium to long term can
watch with a stop loss of Rs.35.
Financial Weekly

INVESTMENT
UMANG DAIRIES LTD

(500231 & NSE) (85.6) (Face Value Rs.5)
Umang Dairies Limited (formerly JK Dairy and Foods Limited) was incorporated in December
1992. It is a part of the JK Group. J K Corporation is having listed companies like J K PAPER, J K
TYRE, J K LAKSHMI CEMENT etc. UDL is engaged in manufacturing milk products and process-
ing / packaging liquid milk at its manufacturing facilities in Gajraula (Uttar Pradesh). Umang Dair-
ies has two plants-a drying plant and a liquid milk packaging (LMP) plant. The drying plant, which
was set up in 1994, has an installed capacity of 4.5 LLPD1, converting the liquid milk to milk
powder and butter. The LMP plant was set up in 2009, and has an installed capacity of 6 LLPD,
which is exclusively utilised for processing and packaging milk for MDFVPL, through its group
company, LVP Foods Private Limited (LVPFPL). The Company's equity is Rs.11crore while com-
pany has huge reserve of around Rs.41.93crore. Promoters hold 74.61% while investing public
hold 25.39% stake in the company. During Q4FY18, its PAT zoomed 1983.87% to Rs.6.46crore
against Rs.0.31crore in Q4FY17 on sales of Rs.69.09crore fetching an EPS of Rs.2.94. During
FY18, its PAT soared 219.39% to Rs.5.27crore against Rs.1.65crore in FY17 on higher sales of
Rs.245.28crore fetching an EPS of Rs.2.40. Currently, the stock is trading at just 37x. Analysts are
also highly bullish on organized dairy sector because it is speedily shifting from unorganized to
organized segment which is highly beneficiary for listed Dairy Cos. Everyone, whose financial
advisor is allowing to trade in this stock for medium to long term can watch with a stop loss of
Rs.75.
PITTI ENGINEERING LTD (513519 & NSE)

(89.8) (Face Value Rs.5)
Pitti Engineering Limited, formerly known as Pitti Laminations Limited, is a Hyderabad head-
quartered manufacturer of Stator & Rotor Core Assemblies, Die Cast Rotors & Assemblies, Trac-
tion Motors, High Precision Machine Components, Pole Assemblies, Specialized Electrical Steel
Laminations, etc. Pitti Engineering caters to the industries like transportation (rail, road & off high-
way, diesel electric vehicles), power generation, aerospace, oil & gas, mining, earth moving and
others. The company supplies full assemblies and sub-assemblies, high precision machined cast-
ings, laminations and fabricated bodies, etc. The company also manufactures special purpose
lamination and stampings for all types of rotating electrical machinery, motor cores, sub-assem-
blies, die cast rotors and press tools. The Company's equity is Rs.14.92crore while company has
huge reserve of around Rs.111crore. Promoters hold 63.81% while investing public hold 36.19%
stake in the company. During Q4FY18, its PAT zoomed 443.9% to Rs.2.23crore on 50.68% higher
sales of Rs.126.92crore. During FY18, its PAT soared 113.7% to Rs.11.54crore on 33% higher
sales of Rs.380.32crore. During Q4FY18, the Board has allotted 28,44,445 equity shares of Rs. 5/
- each at a price of Rs. 90/- per share and 22,22,222 share warrants at a price of Rs. 90/- per
warrant to be converted into 22,22,222 equity shares of Rs. 5/- to the persons belonging to the
promoter / promoter group on preferential basis. "Shri Akshay S. Pitti, Vice Chairman & Managing
Director of Pitti Engineering said that as the economic and the capital goods cycle has revived, the
revenue growth is expected to remain robust. The outlook and visibility for the next 6 quarters is
pretty positive.
Everyone, whose financial advisor is allowing to trade in this stock for medium to long term can
watch with a stop loss of Rs.75.
Financial Weekly

INVESTMENT
Primary Market - Dilip K. Shah
19 mainboard IPOs have obtained Sebi nod, 23 more are waiting for approval
In coming days more than 42 mainboard IPOs to rattle the market
Two mainboard IPOs to enter into the market on June 20 in absence of SME IPOs
Mini Ratna Debt Free RITES IPO may witness fancy due to strong track record and attractive valuation
Fine Organics' fully prices mainboard IPO may give good returns in long term due to huge expansion plans
SME IPOs are withdrawn due to poor listing and lukewarm response
How and when will be allotment and listing of RITES and Fine organics ?
Palms Jewels IPO's got listed at a bang but now in troubled water: Sonam Clock got listed with nominal premiums
SME IPOs of Accuracy Ship got poor response, Shree Oswal got good response and Priti Intl got robust reponse
Genius Conslt, Varrock Engg and Craft Automation's mainboard IPOs got Sebi approval
The government announces plans to list Air India
The primary market is likely to witness some movement in mainboard IPOs after a long
gap. It is believed that there will be flood of mainboard IPOs in coming months.
It is believed that around 19 IPOs have obtained Sebi approval, of which two IPOs - RITES
and Fine Organics are entering into the market on June 20 and rest are Rail Vikas Nigam,
Garden Reach Shipbuilders, Gandhar Oil Ref., Jhon Energy, Nahar Techno, Indian Renew-
able Energy. More details are given in the separate box.
Apart from this, around two dozen companies are waiting for Sebi approval. So nearly 42
companies are entering into the market.
It should be noted that SME IPOs keep the market going in absence of mainboard IPOs.
However, now the SME Issues are facing problems due to poor listing and lukewarm re-
sponse from the investors. As a result, some of the companies have to withdraw the issues
or postpone the same.
* This week's Mainboard issues:-
• RITES Ltd :- Rail India Technical & Economic Services is a mini ratna company set up
by the railway ministry before 43 years. Its client list include government, semi government
and private companies. It has issued bonus shares for eith times: 4:1 in 1984, 1:1 in July
Main - line IPO (Non SME)

Sr Company Issue Open Dt. Issue size Offer price Min. Rs. 1,00,00 Rs. 2,00,000 Listing Lead Rating Remark
Issue Close Dt. (Rs. Cr.) (Rs.) App. Limit Limit Manager %
1. RITES 20-6-2018 2,52,00,000 Eq. Sh. 180 to 185 80 Shares 480 Shares 1040 Shares BSE Elara Cap.,
45 %
Ltd. 22-6-2018 Net Off. : 2,40,00,000 (Rs. 6 Disc. Rs. 14,320 Rs. 85,920 Rs. 1,86,160 NSE IDBI Cap.,
Attractive
(Book Building) Emp. Res. : 12,00,000 to Retailers IFSC Bank,
(Apply)
(Rs. 466.20 Cr.) & Empl.) SBI Capital
2. Fine Organic 20-6-2018 76,64,994 Eq. Shares 780 to 783 19 Shares 114 Shares 247 Shares BSE Edelweiss Cap. 35 %
Industries 22-6-2018 (Rs. 600.17 Cr.) (F. V. Rs. 5) Rs. 14,877 Rs. 89,262 Rs. 1,93,401 NSE JM Financial Neutral
(Book Building) (Fully Priced)
Financial Weekly

INVESTMENT
1987, 1:1 in August 1997, 1:1 in June SME IPO Performance in Current
2003, 9:1 in February 2008, 1:2 in Novem- Year of Top 6 Merchant Bankers
ber 2016 and 1:3 in March 2017. As Merchant Bankers No. of
Negatve Positive % of
IPOs
Compared Compared Co. above
against equity of Rs200 crore, the com- to Issue to Issue Issue
pany has reserves of Rs1900 crore mak- Price Price Price
Guiness Corporate 7 2 5 71.43%
ing the debt free company a good choice Swastika 5 2 3 60.00%
to include in the portfolio. Hem Securities 4 2 2 50.00%
Pantomath 17 9 8 47.06%
- Subscription :- It is likely to get 4 to Aryaman 12 7 5 41.67%
Sarthi 5 3 2 40.00%
6 times subscription in retail category and
Total Number of IPOs 50 25 25 50.00%
many more times in QIB and HNI. * Market Prices as on 31-5-2018
- Allotment and Refund :- Issue may
Grey Market Premium
open on June 20 and close on June 22. SME IPOs Offer Price Premium Kostak Price Subject to Sauda
(Rs.) Min.Appl.(Rs.) (Confirm) (Rs.)
Allotment may take place on June 27, fund RITES 180 to 185 40 to 42 525 3000 to 3200
unblocking on June 28 and share deposit Fine Organics 780 to 783 38 to 40 325-350
(H : 160)
on June 29. Do not subscribe for IPO by just seeing premium price as it may change anytime
before listing : Subscribe only considering fundamental of the Companies
- Listing :- The issue will get listed on
For latest grey market premium please check everyday
BSE and NSE on July 2. It may get listed www.smartinvestment.in
around Rs215 to Rs225 and may rise higher. The stock may give good return in long term. So
it is advisable to keep it.
• Fine Organics :- Maharashtra-based company is active in production of oleochemical-
based additives. It has three units in Maharashtra, which produces more than 387 products.
It plans to expand its capacity to double the production in two years. It also owns a facility at
Leipzig in Germany. It focuses on R&D. R&D accounts for 2% share in its income. The issue
opening on June 20 offers shares at price of Rs780 to Rs783. Considering the facevalue of
Rs5 a share, the offer price turns out to be Rs1560 to Rs1566. The offer price is fully priced.
However, the company's debt free status, expansion plans, monopoly products, rising ex-
port, small equity and huge reserves
Bharat 22 ETF Further Fund Offer
Anchor : 19th June 2018 make it a good option for long term in-
Non-Anchor : 20th June 2018 to 22nd June 2018
Discount : 2.5% ; Retail Portion: 25%
vestment.
Base issue size : Rs 6000 crs with green shoe option - Subscription :- at face value of Rs5
Listing Information of BSE / NSE SME IPOs

Co. Name BSE Listing Offer Listing Listing Listing Listing CMP
Code Date Price Price Day Day Day
(Rs.) (Rs.) High Low Close 15-6-18
Palm Jewels Ltd. 541444 12-06-18 30 37.5 37.5 35.65 35.85 30.80
Waa Solar Ltd. 541445 12-06-18 161 158 158 152.1 153.15 150.00
Sonam Clock NSE SME 14-06-18 36 37 37.5 36.75 36.95 37.00
Financial Weekly

INVESTMENT
a share, the offer price may seem bit Issues Where SEBI Observations Received & Still Valid
Garden Reach Shipbuilders Patel Infrastructure Ltd
high to the small investors but as shown Rail Vikas Nigam Ltd Indian Renewable Energy
Devi Seafoods Ltd Barbeque Nation Hospitality Ltd
in the separate box with exception of Fine Organic Industries Acme Solar Holdings
TCNS Clothing Co Ltd CMS Info Systems Ltd
Prataap Snacks all issues with face John Energy Ltd Reliance General Insurance Co Ltd
Nazara Technologies Ltd Seven Islands Shipping Ltd
value of Rs5 have disappointed the in- Rites Ltd Prince Pipes and Fittings Ltd
Capricon Food Products India Ltd Gandhar Oil Refinery (India) Ltd
vestors. It may get good response in QIB Krishna Institute of Medical Sciences
and HNI but around 3 to 4 times in retail Issues Offer Documents Filed & Awaiting SEBI Observations
Monte Carlo Ltd IRCON International Ltd
category. Renew Power Ltd Atria Convergence Technologies
P N Gadgil & Sons Ltd KPR Agrochem
- Allotment and Refund :- The an- Shakun Polymers Ltd HDFC Asset Management Ltd
G R Infraprojects Ltd Nekkanti Sea Foods Ltd
chor allotment may be on June 19, is- Lodha Developers Sandhya Marines Ltd
sue opening on June 20, closing on June Crystal Crop Protection Ltd Sembcorp Energy India Ltd
Dinesh Engineers Ltd Flemingo Travel Retail Ltd
22, allotment on June 27, fund unblock- Varrock Engineering Creditaccess Grameen Ltd
Genius Consultants Vishwaraj Sugar Industries Ltd
ing on june 28 and share deposit may Mazagon Dock Shipbuilders Srei Equipment Finance Ltd
be on June 29. Subscription Figures of SME IPO (Dt. 8-6-2018)

IPO Listing Day Subscribed
Listing :- The issue may get listed Shree Oswal Seeds NSE SME Issue Closed on 12-6-18 3.96x
on BSE and NSE on July 2. It may get Priti International NSE SME Issue Closed on 13-6-18 7.36x
Accuracy Shipping NSE SME Issue Closed on 14-6-18 1.00x
listed around Rs825 to Rs835 and may rise up to Rs850. IPOs having Face value of Rs. 5
in Heavy Discount during last One Year
* SME IPOs:-
Unlucky for Investors
• SME IPO subscription:- Co. Name Offer Current Listing
(Rs.) (Rs.) Date
- Shree Oswal Seeds :- MP based IPO has got 3.69 ICICI Securities 520 359 4-4-18
New India Assurance800 622 13-11-17
times subscription and closed on June 12. General Insurance 912 719 25-10-17
- Priti International :- It got 7.36 times subscription * Prataap Snacks 938 1178 5-10-17
Matrimony.Com 985 721 21-9-17
and closed on June 13. S. Chand 670 382 9-5-17
* (Prataap Snacks remained as exemption case)
- Accuracy Shipping :- IPO got 1 time subscrip- Tentative Timetable for Main Line IPOs
tion with difficulty and extra efforts by the merchant Tentative RITES Fine Org.
Issue Closes 22-6-18 22-6-18
bankers and promoters. It closed on June 14. Finalisation of Basis of Allotment27-6-18 27-6-18
Refund/Unblocking of Fund from ASBA 28-6-18 28-6-18
• SME IPO listing:- Credit of Eq. Shares to Demat A/c. 29-6-18 29-6-18
Listing on BSE / NSE 2-7-18 2-7-18
* Palms Jewels (541444) :- Ahmedabad -based
RITES Ltd.
company's issue with fixed price of Rs30 Retailers may apply Fine Organic
Price Band Rs. 180 to 185 & Rs. 6 Retailers may apply
got listed at Rs37.50 and went up to Discount to Retailers & Employees
Shares Amt. Shares Amt.
Shares Amt. Shares Amt.
Rs35.85. However, the questions are 80 14,320 560 1,00,240
19 14,877 133 1,04,139
38 29,754 152 1,19,016
raised over high premium as the issue 160 28,640 640 1,14,560
57 44,631 171 1,33,893
240 42,960 720 1,28,880
76 59,508 190 1,48,770
was managed even after extended dead- 320 57,280 800 1,43,200
95 74,385 209 1,63,647
400 71,600 880 1,57,520
line. It is believed that speculators have 114 89,262 228 1,78,524
480 85,920 960 1,71,840
247 1,93,401
1040 1,86,160
Financial Weekly

INVESTMENT
been behind high premium. However, the prices have crumbled in three days to Rs30.80. It
may witness fate of UH Zaveri issue.
• Waa Solar (541445) :- The issue with offer price of Rs161 got listed at Rs158 and closed
on Rs153.15. It came down to Rs150 on Friday.
• Sonam Clock :- The issue got listed on NSE SME on June 14 at price of Rs37 against
offer price of Rs36 and closed at Rs36.95. It closed at Rs37 on Friday.
* Insight into the upcoming issues:-
• Genius Consultants approaches Sebi :- Human Resource and development company
has got Sebi nod for Rs170 crore issue. SBI Capital and Yes Securities are lead managers.
• Varrock Engineering :- Auto equipment manufacturing company has obtained Sebi nod
for offering 1,85,36,600 shares. Kotak Mahindra, City Group, Credit Suisse and IIFL Sec are
merchant bankers.
• Miltake Machinery :- Bengaluru-based diversified agro processing equipment company
will approach Sebi for Rs500 crore issue.
• Centurny Metal Recycling :-It will file DRHP for Rs150 crore fresh and OFS of 64,02,650
equity shares. ICICI Sec and Edelweiss are lead managers.
• Air India Listing :- The government is planning to list the company to dilute 100% stake
in the company.
Grey Market Movement
Grey Market gets alive with mainboard issues hitting the bourse
SME IPO grey market stagnant due to UH Zaveri scam
RITES IPO premiums, interest rates and subject to rate spurt
Fine Organics premium crumbles making investors alert
Ahead of TCS buy back interest rate investors to reap huge benefits
The grey market has become active due to mainboard issues. The market witness shock due
to scam of UH Zaveri SME IPO, so the investors are staying away from any deals in SME issues.
RITES Ltd. :- The premiums started at Rs28/30 last week and went up to each Rs40/42. The
minimum application rates have increased from Rs350 to Rs525 and subject to rates have in-
creased from Rs1500 to Rs3000 to 3200. Fancy and volume may increase in this issue in com-
ing days.
Fine Organics :- The deals started around Rs120 last week and touched Rs160 but have
crumbled to Rs38/40 level. Crash in Grey market premium have alerted the investors who are
adopting Wait and Watch policy. The interest rates are believed to be Rs325 to Rs350.
TCS :- It is believed that as soon as TCS board declared to convened the meeting on buy
back on June 15, the interest rates deals have started taking place. Some of the known brokers
and sub-brokers have struck deals. The interest rates are quoted at Rs85 per share for Rs1 lakh
investment. At time of pre-buyback announcement Rs1 lakh can buy 70 shares at rate of Rs14000.
However, the company declared buy back rate of Rs2100 so the stock prices went up to Rs1841.
It is believed that investors got huge return of Rs10900 on investment of Rs1 lakh in just three
days.
Financial Weekly

INVESTMENT
Rites Limited Main Line IPO

Open on June 20 & Closes on June 22, 2018
Price Band fixed at Rs. 180 to 185 ; Listing on NSE SME
Looking to the good track record and
attractive offer price, One can apply blindly
Rites Limited (Rites) (erstwhile known as Rail India Technical
& Economic Services Ltd.) is a wholly owned Government Com-
pany, a Miniratna (Category - I) Schedule 'A' Public Sector Enter-
prise and a leading player in the transport consultancy and engi-
neering sector in India and the only company having diversified
services and geographical reach in this field under one roof. It
has an experience spanning 43 years and undertaken projects
in over 55 countries including Asia, Africa, Latin America, South
America and Middle East regions.
For listing gains and diluting stake of Govt. of India, Rites is
coming out with a maiden IPO of 25200000 shares of Rs.10 each Rajeev Mehrotra-CMD
by way of offer for sale via book building route with a price band RITES Limited
of Rs. 180 - Rs. 185 to mobilize Rs. 453.60 cr. to Rs. 466.20 cr. (based on lower and upper price
bands). It is offering a discount of Rs. 6 per share to eligible employees and retail investors.
Issue opens for subscription on 20.06.18 and will close on 22.06.18. It has reserved 1200000
equity shares for eligible employees. Thus net public offer will be 24000000 equity shares with
allocation of 50% to QIBs, 15% for HNIs and 35% for retail investors. Minimum application is to
be made for 80 shares and in multiples thereon, thereafter. Post allotment, shares will be listed
on BSE and NSE. BRLMs to this offer are Elara Capital (India) Pvt. Ltd., IDBI Capital Markets &
Securities Ltd., IDFC Bank Ltd, and SBI Capital Markets Ltd. Link Intime India Pvt. Ltd. is the
registrar to the issue. Issue constitutes 12.60% of post issue paid up capital of the company.
These beings offer for sale, it's paid up equity remains same at Rs. 200 crore post issue. Thus
since inception, it has made eight bonus issues. Average cost of acquisition of shares by the
promoters is Rs. 0.005 per share.
Financial Per. :- On performance front, Rites has (on a consolidated basis) posted growth of
CARG 15.62% in top line and CAGR 7.73% in PAT for last three fiscals (FY15 to FY17). For last four
fiscals, Rites reported turnover/net profits of Rs. 1223.47 cr. / Rs. 260.61 cr. (FY14), Rs. 1159.11 cr.
/ Rs. 312.21 cr. (FY15), Rs. 1226.73 cr. / Rs. 282.93 cr. (FY16) and Rs. 1563.27 cr. / Rs. 361.76 cr.
(FY17). For first nine months of FY ended on 31.12.17 it has earned net profit of Rs. 252.54 cr. on a
turnover of Rs. 1061.06 cr. For last three fiscals, it has posted an average EPS of Rs. 16.11 and an
average RoNW of 16.77%. Issue is priced at a P/BV of 1.7 based on its NAV of Rs. 108.60 as on
31.12.17. Its current order book is little over Rs. 4800 crore. If we annualize latest performance and
attribute it on fully diluted equity post issue, then asking price is at a P/E of around 11, thus it is
attractively priced. It has no listed peers to compare with. Company is having asset light business
model that augurs well for lucrative returns going forward.
BRLM's Performance :- On merchant banker's front, four BRLMs associated with this offer
have handled 31 public offers in the past three years, out of which 10 issues closed below the
offer price on listing date.
Recommendation :- It's a debt free profit makers & Dividend paying company with good
track record. One can apply in this attractive priced issue blindly.
Financial Weekly

INVESTMENT
Fine Organics Main Line IPO

Opens on June 20 & Closes on June 22
Price band Rs. 780 to 783 (F.V. Rs. 5), Listing on NSE - BSE
IPO is fully priced but considering good track record and
Huge expansion program, one can apply for long term
Fine Organic Industries Ltd. (FOIL) is the largest manufacturer of oleochemical-based additives in
India and a strong player globally in this industry. It produces a wide range of specialty plant derived
oleochemical-based additives used in food, plastic, cosmetics, paint, ink, coatings and other specialty
application in various industries. As at March 31, 2018, FIL had a range of 387 different products sold
under the 'Fine Organics' brand. It is the first company to introduce slip additives in India and is the
largest producer of slip additives in the world. As on 31.03.18 it has 631 direct customers (i.e., end-users
of products) and 127 distributors from 69 countries. FOIL's plastics additives and specialty additives are
also used in the packaging of foods and other fast moving consumer goods.
The company has three production facilities in Maharashtra -one in Ambernath, one in Badlapur and
one in Dombivli. As at March 31, 2017, these three facilities have a combined installed capacity of
approximately 64,300 tonnes per annum. FOIL is in the process of setting up an additional production
facility in Ambernath with a planned installed capacity of 32,000 tonnes per annum and expects it to
commence operations in the fourth quarter of Fiscal 2019. In addition, it is planning to set up a new
production facility in Leipzig, Germany with a planned initial installed capacity of 10,000 tonnes per
annum and expects to commence operations in the third quarter of Fiscal 2020. In order to get its share
listed and unlock the value for stakeholders, FOIL is coming out with a maiden IPO of 7664994 equity
shares of Rs. 5 each via book building issue. It has fixed a price band of Rs. 780-Rs. 783 per share.
Issue opens for subscription on 20.06.18 and will close on 22.06.18. Minimum application is to be made
for 19 shares and in multiples thereon, thereafter. Post allotment, shares will be listed on BSE and NSE.
Entire issue is by way of offer for sale by existing shareholders and thus company is not getting any fund
out of it. Through this offer, FOIL plans to raise Rs. 597.87 cr. to Rs. 600.17 cr. (based on lower and
upper price bands). Issue constitutes 25% of post issue paid up capital of the company. It has issued
bonus shares in the ratio of 2 for 1 in October 2017. Average cost of acquisition of shares by the promot-
ers is Rs. 0.69, Rs. 0.74, Rs. 0.76, Rs. 0.79, Rs. 0.83 and Rs. 1.53 per share. BRLMs to this issue are
J M Financial Ltd. and Edelweiss Financial Services Ltd. Karvy Computershare Pvt. Ltd. is the registrar
to the issue.
Financial Performance :- On performance front, for last three fiscals FOIL has (on a consolidated
basis) posted turnover/net profits of Rs. 637.96 cr. / Rs. 53.19 cr. (FY15), Rs. 696.22 cr. / Rs. 76.48 cr.
(FY16) and Rs. 819.35 cr. / Rs. 78.36. (FY17). For first nine months ended on 31.12.17 of FY18 it has
earned net profit of Rs. 60.94 cr. on a turnover of Rs. 599.21 cr. For last three fiscals, it has posted an
average EPS of Rs. 24.16 and an average RoNW of 27.24%. For the said period it has posted 13.25%
CAGR for revenues, 14.50% CAGR for EBiTDA margins, 21.38% CAGR for PAT and 23.85% CAGR
for net worth. Issue is priced at a P/BV of 6.83 on the basis of its NAV of Rs. 114.65 as on 31.12.17. If we
annualize latest earnings and attribute it to post issue equity, then asking price is at a P/E of around
29.55. As per offer document, although they are not an apple to apple, Galaxy Surfactant is the listed
peer for this company which is trading at a P/E of around 29. Thus issue appears fully priced.
BRLM's Performance :- On BRLM's front, two merchant bankers associated with the offer have col-
lectively handled 36 public offers in the past three years out of which 6 offers closed below the offer price
on listing date.
Recommendation :- This issue is fully priced but considering good track record with monopoly,
huge expansion programme, one can apply in this debt free, dividend paying company, apply this IPO
for Long Term.
Financial Weekly

INVESTMENT
Smart Best Buy S. N. Zaveri
Bharat Gears : Invest and gear up your portfolio

MindTree : Strrong fundamental, Sound Management
Escorts Up, Up and Up : Buy
Coal India comes out from many headwinds successfully : Buy
SRF : Huge correction makes it a good buy
Bharat Gears (Rs. 176.00) (Code : 505688) (F. V. : 10.00) : Bharat Gears (BGL)
supplies bevel, straight bevel and transmission gear. The furnace division builds sealed quench,
continuous gas carburisers and rotary hearths with technical know-how from AFC-Holcroft, US.
The largest manufacturer of gears in India also exports to the EU, the US, Mexico and Asia. Around
50% of the turnover is derived from farm machines (mainly tractors) and balance 50% from com-
mercial vehicles and construction equipment. About 75% of the total revenues stem from the do-
mestic market The tractor industry's sales grew 22% to 7.10 lakh tractors in the fiscal year ended
March 2018. Currently, advanced gears are being developed for passenger vehicles and engines,
opening up new avenues of growth as the product basket will get diversified.Net sales rose 35% to
Rs 144.89 crore and the profit after tax (Pat) spurted 46% to Rs 2.98 crore in the March 2018
quarter over a year ago. Net sales were up 25% to Rs 507.39 crore and the operating profit margins
was 130-basis-point higher to 8.7%, resulting in 45% jump in operating profit to Rs 43.94 crore in
the 12 months ended March 2018 over a year ago. Pat was Rs 6.30 crore compared with loss of Rs
1.46 crore.The company is expected to report net sales of Rs 583.5 crore and Pat of Rs 9.81 crore
in FY 2019, giving an EPS of Rs 12.1. Buy.
Mindtree Limited (Rs. 1003.00) (Code : 532819) (F. V. : 10.00) : Mindtree is
one of fundamentally strong IT company with sound management. Mindtree has reported over 87
per cent growth in net profit at Rs 182.2 crore for January-March, 2018, and said it expects the
current fiscal to be significantly better than 2017-18.The firm had posted a net profit of Rs 97.2
crore in the year-ago period. Its revenue rose by 11.1 per cent to Rs 1,464 crore in the January-
March 2018 period from Rs 1,318.1 crore a year ago.In dollar terms, Mindtree's net profit surged
over 95 per cent to USD 28.2 million, while revenue grew 15.6 per cent to USD 226.2 million in the
quarter under review. The company's EPS (earnings per share) stood at Rs 11.12 during the quar-
ter under review against Rs 8.63 in December quarter. An enviable client list and a fantastic lead-
ership team are two clear advantage areas for Mindtree and plan to leverage them to engineer
meaningful technology solutions to help businesses and societies flourish. Buy on every decline.
Escorts Ltd (Rs. 916.00) (Code : 500495) (F. V. : 10.00) :- Escorts Ltd (EL) is
the third largest Agricultural tractor manufacturer in India. It has a strong presence in the north and
west market, with an overall market share of 11% as on FY17. Q4FY18 revenue grew by 40.5%YoY
led by 57%YoY volume growth in the tractor sales & 49%YoY from the construction business.
EBITDA margins expanded 480bpsYoY driven by higher sales, price hike, and cost control
indicatives. Normal monsoon and more state subsidiary for doubling the agricultural growth is
expected to drive demand for tractors. We expect revenue & PAT to grow at 16% & 34%YoY
CAGR over FY18-20E led by higher segmental revenue and new product launches.Q4 Standalone
revenue in Q4FY18 was up 40% yoy at Rs1,436cr, in-line with consensus estimate. EBITDA was
up 134% yoy at Rs174cr, lower than street estimate of Rs179cr. PAT came in at Rs113cr, up 89%
Financial Weekly

INVESTMENT
yoy. This was slightly better than consensus estimate of Rs109cr. Total debt on books of the com-
pany reduced from Rs263cr as on March 31, 2017 to Rs50cr as on March 31, 2018. Buy.
Coal India (Rs. 279.00) (Code : 533278) (F. V. : 10.00) : CIL has made huge
progess in last six months in successfully tackling multiple headwinds around employee wage
costs and FSA realisations. CIL is expected to deliver strong earnings growth over FY18-20E.
There is strong demand for coal. So volume is expected to grow at CAGR of 6%. Robust FSA
pricing on the back of recent price increases and better grade compliance will also benefit. E-
auction volumes at 18% of total volumes coupled with higher realisations supported by favorable
global coal prices are other positives for the company. Coal India’s average realisationfrom e-
auctions has jumped 31% during the March quarter and 20% for FY18 on higher demand and
international prices.Stock trades at inexpensive valuations of 6x FY19E EV/EBITDA despite at-
tractive return ratio. Dividend yield of 7%+ is an added positive. Meanwhile, Coal India's output
increased by 105 million tonnes (MT) in the last four years to reach 567 MT in 2017-18. Buy this
blue-chip stock.
SRF (Rs. 1901.00) (Code : 503806) (F. V. : 10.00) : SRF stock has seen v-shape
reverse pattern ie. the stock gallopped from Rs.1700 plus level to Rs.2400 plus level between
February and May. Then the stock seen huge correction and came back to Rs.1700 plus level.
Now, it is good opportunity to enter into this counter. SRF Ltd is a chemical based multi-business
entity engaged in the manufacturing of industrial and specialty intermediates. The company?s
diversified business portfolio covers technical textiles, fluorochemicals, specialty chemicals, pack-
aging films and engineering plastics. The company has 12 manufacturing plants in India, two in
Thailand and one in South Africa. SRF Ltd has reported a 4 per cent decline in its consolidated net
profit at Rs 124 crore for the quarter ended March.Its net profit stood at Rs 129 crore in the year-ago
period. Total income rose to Rs 1,625.30 crore in the fourth quarter from Rs 1,442.37 crore in the
corresponding period of the previous year.For the full last financial year, SRFs net profit fell by 10
per cent to Rs 462 crore from Rs 515 crore in 2016-17.Total income increased to Rs 5,753.67 crore
in the 2017-18 fiscal from Rs 5,182.05 crore in the previous year. Buy.
(SEBI Registered Research Analyst)

* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month • All stocks rates / indices on
15th June, 2018 unless specified o Stoploos is useful for Short - Medium term investors only
* Disclaimer :- • Smart Investment will not be responsible / for any loss arising out of investment based on its recommendation. • Though,
every care has been taken, we will not responsible for any errors / omissions o All disputes are subject to Ahmedabad jurisdictioner
Financial Weekly

INVESTMENT
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Financial Weekly

INVESTMENT
Dalal Street Whispers - Dilip K. Shah
Hero Moto (Rs. 3,689.00) (Code: 5001852) :- Hero Moto reported strong sales for May quarter,
and is likely to continue to show good growth going ahead.
Bharat Forge (Rs. 641.00) (Code: 500493) :- The company doubled truck sales in May. This auto
components manufacturer has also acquired stake in Teva Motors of US for 1 crore pounds of Rs.
90.30 crores. The UK company provides power train solutions for commercial vehicles and buses.
TCS (Rs. 1,841.00) (Code: 532540) :- The board of this IT behemoth approved share buy back
of Rs. 16,000 crores on Friday. The company will buy back 7.61 crore shares at Rs. 2,100 per
share. There is a difference of 14-15% in the offer price and the current price.
Sun Pharma (Rs. 571.00) (Code: 524715) :- The US FDA has approved the Halol plant of
country's largest pharma manufacturer. The two-year ban on this plant has come to an end. The
share surged by 8% in the last week to touch 10-month high. Some brokerages have increased the
target price of the stock.
Dish TV (Rs. 72.00) (Code: 532839) :- Rakesh Jhunjhunwala's Rare Enterprise has acquired
Rs. 93 crores worth of shares of this DTH company at Rs. 71.73 per share. There is movement in
the stock.
Cox & Kings (Rs. 214.00) (Code: 533144) :- With the FIFA World Cup kicking off in Russia, the
number of outbound tourists is likely to go up. This will benefit companies like Cox & Kings and
Thomas Cook.
KEC International (Rs. 360.00) (Code: 532714) :- Brokerage house Macquarie has given a
'Buy' rating on this stock with a target price of Rs. 456.
Berger Paints (Rs. 290.00) (Code: 509480) :- Paint companies are benefiting from the fall in
crude oil prices, which have fallen to 75 dollars a barrel from 80 dollars earlier. Demand for paints
is also on the rise.
Page Industries (Rs. 26,562.00) (Code: 532827) :- This ready-made garment producer has
extended its agreement with Jockey till 2040. The share has jumped at rocket speed.
Tata Motors (Rs. 303.00) (Code: 500570) :- The share is shining in view of sharp rise in sales
of JLR in the month of May. It is also likely to benefit from the launch of six new models in the
coming months.
HDFC Bank (Rs. 2,030.00) (Code: 500180) :- This leading private sector bank has received
approval from the central government to raise Rs. 24,000 crore as FDI.
Vedanta (Rs. 238.00) (Code: 500295) :- Vedanta will find a place among the Sensex stocks in
place of Dr Reddy's. This will have a positive impact on the stock.
RCF (Rs. 78.00) (Code: 524230) :- This PSU owns land worth Rs. 24,000 crores in Mumbai. It
is expected to receive nod to sell 50% of its land holdings.
Adani Enterprises (Rs. 132.00) (Code: 512599) :- The government's move to hike import duty
on edible oil by 10% to 45% will benefit companies like Adani Enterprises, Gokul Refoils and
Sanwaria Agro.
NCC (Rs. 107.00) (Code: 500294) :- Union minister Nitin Gadkari announced that 50% orders
under the Bharatmala project would be released soon. This will benefit infra companies like NCC.
IB Rea (Rs. 170.00) (Code: 532832) :- The promoters have increased their stake by buying
large number of shares through block deals.
Ashok Leyland (Rs. 142.00) (Code: 500477) :- Hinduja Group company Hinduja Leyland Fi-
nance has filed DRHP with SEBI for its IPO. The IPO will allow promoter Ashok Leyland to unlock
significant value. Sales of Ashok Leyland are also showing strong growth for past few months.
Financial Weekly

INVESTMENT
REVIEW OF “SMART PLUS NEWS LETTER”

Amazing 22% RETURN SMART GAIN
FOR SMART INVESTORS
Company Reccom. Weekly Ch. Company Reccom. Weekly Ch.
11-6-2018 High (%) 11-6-2018 High (%)
KEI Ind. 428 441 3.04 LUPIN 810 923 13.95
Tata Sponge 1091 1155 5.87 Kotak Bank 1315 1345 2.28
Jyothy Labs. 417 486 16.55 Karuru Vysya Bank 104 108 3.85
RBL Bank 532 570 7.14 Torrent Pharma 1411 1516 7.44
Bajaj Fin. 2186 2290 4.76 Bank of India 100 104 4
Britannia 5918 6172 4.29 Wockhardt 690 748 8.41
Sun Pharma Advance 415 437 5.3 Dr. Reddy 2062 2382 15.52
Bata India 769 788 2.47 NRB Bearing 169 193 14.2
Tata Elxsi 1231 1340 8.85 Adani Enter. 116 137 18.1
Hero Moto 3633 3720 2.39 Canara Bank 276 284 2.9
Mind Tree 1028 1052 2.33 NCC 110 114 3.64
Ajanta Pharma 974 1126 15.61 Nahar Capital 124 139 12.1
Mahanagar Gas 847 873 3.07 Time Techno 146 153 4.79
Amar Raja Bat. 785 805 2.55 Hinduja Global 865 923 6.71
Ramkrishna Forg. 737 774 5.02 Edelweiss 317 331 4.42
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Apollo Hospital 1015 1060 4.43 National Plastics 53 57 7.55
Suven Life 214 240 12.15 IDEA Cellular 63 65 3.17
GSFC 115 118 2.61 Astra Micro 97 105 8.25
IRB Infra 237 241 1.69 PBM Poly 81 97 19.75
TRENT 319 330 3.45 Omax Autos 153 186 21.57
M M Forgings 1217 1478 21.45 Union Bank 95 97 2.11
ITC 267 274 2.62 SCI 63 69 9.52
Glenmark Pharma 556 603 8.45 Hind. Copper 70 74 5.71
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Financial Weekly

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Financial Weekly

INVESTMENT
Grand Success Story of

D(en)O(f)W(ealth) : Dow Scheme
Date Stock Reco. Target Achieved Return Date Stock Reco. Target Achieved Return
Rate (Rs.) Rate (%)
29th April-15 J M FIN 47.5 60-90 191.6 303% Rate (Rs.) Rate (%)
29th April-16 WALCHAND PEOPLE 106 145 212 100%
5th May-15 VIPPY SPINPRO 20 25-31 61.4 207%
3rd May-16 IOL CHEM 103 150-250 156 51%
8th May-15 CONART ENG 22 30-32 64.4 193%
5th May-16 INDIGO 1075 1200 1347 25%
15th May-15 MANALI PETRO 16.5 21-30 49.4 199%
6th May-16 PPAP AUTO 144 175-200 454 215%
22nd May-15 S U Z L O N 25 32-45 28 12%
13th May-16 HP COTTON 53 75 58 9%
26th May-15 GOLDIAM INT 28 38 99.7 256%
16th May-16 GANDHI SPE TUBE 235 300 375 60%
28th May-15 PONDY OXIDE 75 82 779 939% 16th May-16 BAJAJ ELE 233 265 428.5 84%
9th June-15 INDUS BANK 810 880 1804 123% 19th May-16 ITD CEMENT 127 175 194 53%
18th June-15 KEI IND 63 90 372 490% 19th May-16 ASM TECHNO 195 220 203 4%
18th June-15 VRL LOGI 305 335-350 479 57% 27th May-16 KUSHAL TRADE 145 175-225 611.1 321%
18th June-15 KALPATARU POWER 241 270 405 68% 3rd June-16 J M FIN 47 56-59-65 191.6 308%
18th June-15 SUPRAJIT ENG 128 150 338 164% 9th June-16 BAJAJ ELE 232 300 428.5 85%
26th June-15 IBULLS HOUSING 620 675-900 1374 122% 20th June-16 GAEL 58 75-85 185 219%
2nd July-15 MRPL 76.5 85-105 143.55 88% 24th June-16 IOL CHEM 136 175-275 156 15%
13th July-15 FSL 33.25 40-55 54 62% 1st July 16 IL&FS TRANS 78.5 95-105 124.8 59%
14th July-15 JAIN IRRIGATION 75 95-125 120 60% 7th Junly 16 NETWORK18 45.5 64-71 59.3 30%
28th July-15 BAJAJ FINANCE 222 275 1985.9 795% 15th July 16 SARDA ENERGY 141 180-200 518.4 268%
31st July-15 JINDAL SAW 78 95-125 128.3 64% 22nd July 16 AARTI IND 553 620-625 1040 88%
3rd Aug-15 HFCL 15 20-35 35.95 140% 28th July 16 MAGMA FIN 106 135-140 189.85 79%
5th Aug-15 SUBEX 16.5 18.5-22 18.35 11% 3rd Aug 16 GARWARE WALL 453 535-540 994 119%
17th Aug-15 J M FIN 52.5 60 191.6 265% 5th Aug 16 ION EXCHANGE 327 445-450 638 95%
12th Aug 16 IOL CHEM 137 175-275 156 14%
11th Sep-15 NAVKAR CORP 166 185-190 247 49%
18th Aug 16 SAMBANDAM SPI 113 130-140 163.5 45%
11th Sep-15 ECLERX SERVICES 1425 1600 1784 25%
22nd Aug 16 SUBEX 12.65 16.5-18.4 13.5 7%
11th Sep-15 KSCL 457 530-550 708 55%
31st Aug 16 IDFC 58.25 70 71.3 22%
24th Sep-15 GHCL 142 165-200 299 111%
8th Sep 16 IRB INFRA 242 270-285 272.65 13%
6th Oct-15 CHENNAI PETRO 238 275-350 480.5 102%
8th Sep 16 TALBROS ENG 238 255-260 824 246%
7th Oct-15 HFCL 16.7 20-25 35.95 115%
16th Sep 16 NOCIL 68 85 193.5 185%
12th Oct-15 ARSS INFRA 36.5 50-54 114 212%
21st Sep 16 CONART ENG 40 48 64.9 62%
14th Oct-15 ASHOK LEYLAND 94.25 105-110 133.9 42% 23rd Sep 16 KEI IND 120.5 140-170 372 209%
4th Nov-15 LLOYD ELE 274 315-350 340 24% 29th Sep 16 DYNAMIC IND 60 70-75 109.85 83%
16th Nov-15 TANLA SOL 36.5 50 66.45 82% 29th Sep 16 GSFC 77 101 162.7 111%
21st Nov-15 PRIMA PLAST 83 100-125 315 280% 5th Oct 16 MAGMA FIN 116 140 189.85 64%
26th Nov-15 PRATIBHA IND 45 55 51 13% 19th Oct 16 JINDAL POLY 429 460-490 477 11%
16th Dec-15 COMPETENT 140 185-190 260 86% 25th Oct 16 A2Z INFRA 40.75 50 52.65 29%
21st Dec-15 SUN PHARMA 750 1000 899 20% 30th Oct 16 JENBRUKT PHARMA 482 700 572.5 19%
8th Jan-16 ASM TECHNO 195 230-300 220 13% 30th Oct 16 ADVANCED ENZ 2125 2700 2375.5 12%
15th Jan-16 TYCHE IND 50 7 2 STOP LOSS 4th Nov 16 MAFATLAL IND 443 425-500 STOP LOSS
27th Jan-16 ASHOKA BUILD 192 230 STOP LOSS 4th Nov 16 ABC BEARINGS 174 210-250 450 159%
5th Feb-16 SWISS GLASS 118 150 227 92% 2nd Dec 16 MRPL 100 119-138-149 146.7 47%
19th Feb-16 ELEGANT MARBLE 95 125 195.95 106% 9th Dec 16 SONATA SOFT 164 195 224 37%
3rd March-16 SHIVALIK BI 11 27-35 95 764% 16th Dec 16 INDIA GLYCOL 137 180-200 412 201%
8th March-16 SUDARSHAN CHE 86 115 459 434% 30th Dec 16 MADHAV MARBLE 59 64-66 79.5 35%
21st March-16 J K TYRE 83 105-135 186.3 124% 30th Dec 16 ORIENT BEVERAGES 160 170-172 186.5 17%
4th Jan 17 RAIN IND 56.5 70 319 465%
21st March-16 NHPC 21.85 27-32 34.5 58%
5th Jan 17 MAGNGALORE CHEM 48.2 55-60 84.4 75%
8th April-16 SUBEX 10.1 13.75-16.5 14.25 41%
6th Jan 17 INDO RAMA 34.25 36-37 42.6 24%
13th April-16 CAREER POINT 118 135-175 166.7 41%
11th Jan 17 TRIDENT 62.5 75-100 109.5 75%
13th April-16 KLRF 58 75-110 122 110%
13th Jan 17 PITTI LAMINATIONS 60 63-65 75 25%
26th April-16 BENGAL TEA 50 60-65 63.5 27%
20th Jan 17 SUPER CROP SAFE 136 225 180 32%
Financial Weekly

INVESTMENT
(2)
Date Stock Reco. Target Achieved Return Date Stock Reco. Target Achieved Return
Rate (Rs.) Rate (%) Rate (Rs.) Rate (%)
27th Jan 17 IHTL 192 202 202 5% 30th June-17 PRIME URBAN 31.5 34-35 38.35 22%
2nd Feb 17 SUBEX 10.6 13-14 12.35 17% 4th July-17 PRIYA LTD 102 112-140 117.5 15%
6th Feb 17 BGR ENERGY 138.5 175 183.4 32% 7th July-17 SUNFLAG IRON 41 51-55 87.8 114%
6th Feb 17 LAURUS LAB 538 625 640 19% 17th July-17 ORIENT BEVERAGES 175 181-185 186.4 7%
14th Feb 17 ATLANTA 83 105 120.45 45% 18th July-17 ORIENT BEVERAGES 179 191-195 STOP LOSS
16th Feb 17 PITTI LAMINATIONS 62 72-75 75 21% 24th July-17 TWL 121.5 155-160 STOP LOSS
16th Feb 17 EON ELECTRIC 63.5 85-90 137.5 117% 28th July-17 REMSONS IND 82 110-115 89.6 9%
28th Feb 17 KWALITY 157 175-185 167.95 7% 3rd August-17 NTC Ind 61 75-80 72.5 19%
1st March-17 S PA RC 339 370-385 446 32% 11th August-17 AGRITECH INDIA 59 - 149 153%
2nd March-17 K O P R A N 71 83-95 102.45 44% 11th August-17 E C O P L A S T 112 - STOP LOSS
8th March-17 AJMERA REALTY 197 250-260 297.8 51% 11th August-17 BIMETAL BEARING 460 - 561.3 22%
10th March-17 CORDS CABLE 81.5 84-86 145 78% 18th August-17 PUDUMJEE IND 15 - STOP LOSS
15th March-17 ADANI ENTER 99.5 115-120 160.7 62% 22nd Aug. S PA RC 410 550 446 9%
17th March-17 GUJ THEMIS 48 53-55 55.5 16% 24th August-17 PATSPIN 27.5 31-33 30.3 10%
17th March-17 SHILCHAR TECHNO 380 450-525 524.9 38% 29th August-17 BNR UDYOG 59.5 6 5 STOP LOSS
20th March-17 ELECTROSTEEL CAST 29.5 37-40 40.65 38% 30th August-17 NMDC 126.5 150 138.5 9%
24th March-17 ONWARD TECH 74.5 78-80 170 128% 30th August-17 J M FIN 128 150 191.6 50%
24th March-17 AVT NATURAL 37 39.5-41 50.75 37% 1st Sep-17 VASWANI IND 15.5 17.5-18 24.6 59%
29th March-17 SANKHYA INFO 58.5 70-75 69.7 19% 7th Sep-17 INDBANK MERCHANT 21.5 25-27 26.9 25%
31st March-17 MOLD-TEK 53.5 55-56 59.9 12% 14th Sep-17 COMPUCOM SOFT 17 20-21 19.4 14%
5th April-17 MTNL 25.75 31-35 27.1 5% 20th Sep-17 ORIENT CEM 162 190 182 12%
6th April-17 SARDA ENERGY 258 300 518.4 101% 22nd Sep-17 AKAR TOOLS 108 113-115 117 8%
13th April-17 WEIZMANN 524 560-570 1125 115% 27th Sep-17 PUDUMJEE PULP 26.85 29.5 28.5 6%
20th April-17 COMPUCOM SOFT 17.5 19.5-20.5 SL 28th Sep-17 SANGHI IND 98 125 137.2 40%
21st April-17 ALEMBIC 46.7 55-61 51.7 11% 3rd Oct-17 DHARNI SUGAR 32 35.5 39.75 24%
28th April-17 REL INFRA 595 700 SL 6th Oct-17 PDMJE PAPER 31 38-40 34.1 10%
28th April-17 DAMODAR IND 95 100 144 52% 13th Oct-17 BHAGYNAGAR 33 38-40 39.4 19%
2nd May-17 VIPPY SPINPRO 50 55-56 SL 19th Oct-17 W H BRADY 235 325-350 288.9 23%
2nd May-17 DEEP IND 326 400 SL 23rd Oct-17 W H BRADY 255 325-350 288.9 13%
15th May-17 TALBROS AUTO 175 210 224.7 28% 24th Oct-17 GSFC 147 170-175 162.7 11%
2nd June-17 TATA GLOBAL 156 175-180 231.25 48% 24th Oct-17 SPIC 42.5 50-53 48.5 14%
2nd June-17 PITTI LAMINATIONS 58.5 63-65 75 28% 25th Oct-17 DHARNI SUGAR 36 41-43 39.75 10%
15th June-17 ACE 69.5 81-87 95.3 37% 31st Oct-17 SURANA T & P 7.5 9-10.5 9.3 24%
22nd June-17 MANAPPURAM 97.5 107-130 112.55 15% 1st Nov-17 MANGALORE CHEM 78 90-95 81.6 5%
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Nifty & Sensex Movement during the last week

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TESTING THE UPPER BOUNDARY OF

This Weeks Recommendations

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Nifty Clearly is in Positive Bias

RISING STAR : BalrampurChini Mills (73.95)

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RISING STAR : Balrampur Chini Mills (73.95)

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Last Recommendation Review

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Stock Buzz Subramanian Mahadevan

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

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