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June 2022 2
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June 2022 3
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VOL : 15 • Issue No: 16 RNI No : GUJENG / 2008 / 24320 29th May 2022 to 4th June 2022
FII ACTIVITY (Rs. in Cr.)

DATE BUY VALUE SELL VALUE NET VALUE
23-05-22 7039.52 8990.69 -1951.17
24-05-22 7947.05 10340.5 -2393.45
25-05-22 6371.24 8174.3 -1803.06
26-05-22 8248.29 9846.13 -1597.84
27-05-22 4954.34 6897.44 -1943.1
TOTAL 34560.44 44249.06 -9688.6
DII ACTIVITY (Rs. in Cr.)
DATE BUYVALUE SELLVALUE NETVALUE
23-05-22 6281.53 4836.14 1445.39
24-05-22 6171.84 4223.35 1948.49
25-05-22 7025.71 4795.89 2229.82
26-05-22 7535.24 4628.78 2906.46
27-05-22 6397.19 3669.72 2727.47
TOTAL 33411.51 22153.88 11257.6
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Financial Weekly

June 2022 7
FED Move and
Market Expectation
Dr S Subhashini
subhajai73@gmail.com
The S&P 500 settled firmly on Monday, with reaction to the news lift on COVID-19 restric-
tions in Shanghai and tariffs cut on Chinese Goods. S&P 500 added with 72.39 points on
Monday, Financial Energy and Information technology were the major gainers. The gainers
were below the neutral line on Tuesday due to lingering concerns of the rate hike and nega-
tive sentiment due to drop in new home sales. The S&P 500 declined by 32.27 points. On
Wednesday, trading was choppy, S&P 500 added 37.25 points as news around FED plans on
interest rate increases and reduction in size of the balance added positive to the market in
the end. The early meeting of FED showed a strong likelihood on the two more half percent-
age point rate hike in the coming months. The central bank indicated it intends to move
expeditiously to a more neutral monetary policy stance. The central bank also decided to
begin reducing its holdings of Treasury securities and agency debt and agency mortgage-
backed securities on June 1.The Fed noted risks to the outlook for economic growth were
skewed to the downside, while risks to the outlook for inflation were skewed to the upside.
Thursday the market ended with 2% to 4057.84.The US 10-year yield rose close to one basis
point to 2.74%.US Q1 GDP was revised to a 1.5% annual rate of decline from a 1.4% drop
reported in the advance estimate and following a 6.9% gain in the fourth quarter of 2021.
Technical indicators of the market, shows 13 on sell, 8 indicators on Neutral and 5 on Buy
signals for the week, The support level are 4016.29, 3266.39, 2120.17 and Resistance-
5162.51, 5558.83, 6705.05.
Financial Weekly

June 2022 8
Equichain Wealth Advisors
Global Markets Nikunj Vithlani
nikunj200531@gmail.com
Recession fear deepens even before

Central banks steps run its full course
Last week we have discussed how corporate earnings, which were lower than market estimate
or their future guidance was below which disappointed market. China's zero COVID-19 policy
impact Chinese economy and creating pressure on supply chain in adding fuel to fire on already
heated inflation.
This week we will focus on some early sign of recession or fear on recession before central
banks across the world have taken its full course of actions. It is much complicated to answer it in
a simple term but one of the major factors remains high energy prices & high food commodity
prices due to Russia-Ukraine crisis.
Before we share our view on global factors and market reactions which did witness a change in
narrative and central banks are now more focus on avoiding recession. Key objective of central
banks is to maintain price stability & robust growth environment. It always has a balancing act to
do to control pendulum moving on either side to extreme.
U.K. Slaps 25% Windfall Tax On Profits Of Oil And Gas Firms
" The 25% levy on energy firms will raise about £5 billion ($6.3 billion) to finance one-off
grants of £650 to more than 8 million of the poorest households in the UK, Chancellor of
the Exchequer Rishi Sunak said in the House of Commons on Thursday.
" Around 8 million pensioners will receive payments of £300 while energy bills will also be
subsidized by £400 for every household in the UK, replacing a previous plan for £200
loans.
Xi-Li Discord Paralyzes Officials Responsible For China Economy

" Premier Li Keqiang held a similarly rare video call with thousands of cadres across the
nation to warn of an even worse economic crisis than two years ago, calling on them to
better balance Covid controls and economic growth.
Cont...
Financial Weekly

June 2022 9
" The premier used that platform to deliver his starkest warnings about the economy's weak
performance, saying "difficulties in some aspects, to a certain extent, are greater than when
the epidemic hit us severely in 2020."
U.K. Recession Risk Makes BOE Wary Of Acting On Inflation, Pill Says
" The Bank of England needs to tighten policy further to fight rising inflation, but it's also
wary of acting too quickly and risking pushing the UK into recession, according to Chief
Economist Huw Pill.
" "I personally think there is more that needs to be done in this transition from what has been
a very supportive monetary policy for the economy really going back to the financial crisis,
through the fallout from Brexit and the pandemic," he said, according to the newspaper.
" And we need to go not necessarily to a super restrictive stance, but to a stance that takes
some of that support away and is more reflective of the fact inflation is higher and labor
markets tighter."
Supply Woes Raise Recession Risk As Fed Rejects Inflation Nuance

" Central bankers can't drill for oil, grow more crops or repair global supply chains. That
means the only quick fix available to Federal Reserve Chair Jerome Powell and his col-
leagues for cooling the fastest inflation in four decades may be raising interest rates so
much that they crash the economy into recession.
" "The phenomenon we are going through is global," said William Spriggs, a professor at
Howard University and the chief economist for the American Federation of Labor and Con-
gress of Industrial Organizations. "It's caused by the global supply chain being totally ripped
apart and disrupted, and nothing he does can address that."
We have discussed "Double Whammy" - high inflation + fear of increase interest rate in our
earlier article and now it is becoming realty. To our surprise the narrative in global market is changing
too fast without actually seeing any major impact of increase in interest rate so far.
US Fed increases interest rate by 25 bps in March 2022 meeting & 50 bps in May 2022 meeting,
but recent declared US GDP data for January to March 2022 is showing negative growth. India's
RBI increase rate first time on 4-May-22 by 40 bps and guided to remove COVID-19 related ac-
commodative steps as central bankers shift their focus on inflations.
Cont...
Financial Weekly

June 2022 10
Equichain Wealth Advisors: Key points & Opinion
If next quarter US GDP data turns negative, then officially it can be termed as recession, but as
of now market is expecting rate hike by 50 bps each by US Fed in upcoming June 2022 & July
2022 meeting. So, the big question how central banks will do balancing act.
Market has corrected in month of May fearing inflation & weak guidance by corporates & reces-
sion fear. Food inflation normally takes 3 - 6 months depending on agriculture crop cycle to bring
prices down and energy prices is very much depended on Russia-Ukraine crisis.
We believe, Central banks will move slowly on monitory tightening because it will be tough for
them to reverse their policy on interest if the move too fast from here on. Any sudden reversal on
policy front will also hurt their credibility.
We see market have priced in negative scenario and downside could be limited from current
level to next earnings season begins from 1st week of July. Risk-reward ratio is in favour to go long
with recent bottom as level which needs to be review if broken.
Equichain Wealth Advisors - SEBI registration number (RIA): INA000016472
Telegram channel: https://t.me/Equichain
Nikunj Vithlani
Buy... Buy... Buy on Dips Hold Sell on High

Aurum Pro 91.00 ICICI Bank 739.00 Polycab 2398.00
Shankarlal Ram 394.00
Gallantt Metal 70.00 Maruti 7941.00 Muthoot Fin 1096.00
Radhe Dev 220.00
Standard Ind 22.00 Concor 657.00 IEX 184.00
Jindal Poly 1088.00
Medico Remedies 133.00 Tech Mahindra 1123.00 Ruchi Soya 1120.00
Gail 142.00
Apollo Hospital 3861.00 Motherson Sumi 123.00
Gallantt Ispat 66.00 GE Shipping 406.00
HPL Ele 64.00 M&M 953.00 Zee Entertainment 237.00
Hindalco 409.00
Adinath Tex 46.00 Astrazene 2968.00 India Cement 162.00
Gravita 257.00
Vidli Restaurant 27.00 United Spirits 778.00 Asian Paints 2835.00
Century Ply. 540.00
RTS Power 61.00 HUL 2330.00 Piramal Enter 1644.00
Gayatri Project 17.00
Bajaj Finserv 12766.00 ONGC 143.00
Hind Copper 97.00 Balrampur Chini 400.00
Axis Bank 688.00 Triveni Turbine 176.00
Financial Weekly

June 2022 11
Financial Weekly

June 2022 12
Chart Check
Your Stock Our Recommendation
HDFC life :
It is found in bullish wave buy above 600 with sl of 580 target 650…670
Maruti :
It is found in bullish wave one can long above 8000 with sl of 7760 target 9000…9300
Financial Weekly

June 2022 13
M&M :
It is forming cup and handle formation since long time one can long 962 with sl of 915 for target of
993…1112…1400 positional
This are some stocks we received from our subscribers,

You can also send your to get featured in next week
For any query email us on
info@smartinvestment.in
Financial Weekly

June 2022 14
https://play.google.com/store/apps/details?id=co.robin.vgfob
https://apps.apple.com/in/app/myinstitute/id1472483563
Financial Weekly

June 2022 15
Rapid Fire Stocks
Kalpna J (Email- Kjtech79@gmail.com)

(Ring : 97690 37711) Twitter : @Kj_TechTrades
Barbeque - Nation
Buy at cmp 900 for the Targets of 1111-1555 ,
Timeframe 2-9 Months
Barbeque-Nation Hospitality Limited was originally incorporated as Sanchi Hotels Private Lim-
ited on October 13 2006 at Indore Madhya Pradesh as a private limited company. Subsequently
the name of the Company was changed to Barbeque-Nation Hospitality Private Limited on Febru-
ary 18 2008. The name was changed to align with the principal business of the Company. There-
after the Company was converted into a public limited company and the name of the Company
was changed to Barbeque-Nation Hospitality Limited on March 4 2008. Subsequently the regis-
tered office of the Company was changed from the state of Madhya Pradesh to Karnataka on Janu-
ary 15 2014.The Company own and operates Barbeque Nation Restaurants one of India's leading
casual dining restaurant chains according to the Technopak Report. The first Barbeque Nation
Restaurant was launched in 2005 by Sayaji Hotels one of the promoters. Five Barbeque Nation
Restaurants owned by Sayaji Hotels were transferred to the company in 2012. The Company has
steadily grown its owned and operated Barbeque Nation Restaurant network from a single restau-
rant in Fiscal 2007 to 81 Barbeque Nation Restaurants in 42 cities in India and one restaurant in
Dubai as of June 30 2017. In addition as of June 30 2017 the company had granted the franchise
rights of one Barbeque Nation Restaurant.Through the Barbeque Nation Restaurants the com-
pany pioneered `over the table barbeque' concept in Indian restaurants according to the Technopak
Report. Live grills embedded in dining tables allow its guests to grill their own barbecues. The
Company believes its Barbeque Nation Restaurants compared to other fixed price dining options
offer competitive attractions such as a wide range of vegetarian and non-vegetarian appetisers
and main courses a popular dessert menu a pleasant and casual dining environment and prompt
service. The Company also periodically run popular food festivals at its Barbeque Nation Restau-
rants offering its guests a range of Indian international and fusion cuisines
Cont....
Financial Weekly

June 2022 16
Adani Power (APL)

Buy at CMP 330 For the targets of 444Time Frame - 9 to 36
Months ( Add in all Dips )
Adani Power (APL), a part of the diversified Adani Group, is the largest private thermal power
producer in India. The company has an installed thermal power capacity of 12,410 MW spread
across six power plants in Gujarat, Maharashtra, Karnataka, Rajasthan and Chhattisgarh, apart
from a 40 MW solar power plant in Gujarat. Adani Power shares have its investments in green
energy sparking value buying and partial payments made by the Rajasthan and Maharashtra gov-
ernments that was long due." Due to the rising petrol and diesel prices, people are moving towards
electric vehicles and the company has recently made investments in green energy that has trig-
gered value buying among the long-term investors. Apart from this, the company has received
partial payment from the Rajasthan and Maharashtra state governments, which will lead to reduc-
tion in debt of the company.
Adani Power fourth quarter results: Net profit at Rs 13.13 crore
Total income of the company rose to Rs 6,902.01 crore in the quarter from Rs 6,327.57 crore in
the same period a year ago
Cont....
Rapid Fire Stocks

For My Personal Assistance with My
Elite Membership At a Nominal Cost
Whatsapp @ 9769037711
For My Free Stock Ideas Follow me on
Twitter @Kj_Techtrades
Financial Weekly

June 2022 17
Axis Bank
Buy at CMP : 687, Target - 850 to 98
Time Frame : 5 to 24 Months ( Add in All Dips )
Axis Bank is the third largest private sector bank in India. The Bank operates in four segments,
namely treasury, retail banking, corporate/ wholesale banking and other banking business. Axis
Bank was incorporated in the year 1993 with the name UTI Bank Ltd. Axis Bank is one of the first
new generation private sector banks to have begun operations in 1994. The bank was promoted in
1993, jointly by Specified Undertaking of Unit Trust of India (SUUTI) (then known as Unit Trust of
India), Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC),
National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insur-
ance Company Ltd. and United India Insurance Company Ltd.
The treasury operations include investments in sovereign and corporate debt, equity and mu-
tual funds, trading operations, derivative trading and foreign exchange operations on the account,
and for customers and central funding. Retail banking includes lending to individuals/small busi-
nesses subject to the orientation, product and granularity criterion. It also includes liability prod-
ucts, card services, Internet banking, automated teller machines (ATM) services, depository, finan-
cial advisory services, and non resident Indian (NRI) services. The corporate/wholesale banking
segment includes corporate relationships not included under retail banking, corporate advisory
services, placements and syndication, management of publics issue, project appraisals, capital
market related services, and cash management services. The Banks registered office is located at
Ahmedabad and their Central Office is located at Mumbai. With 3,485 domestic branches (includ-
ing extension counters) and 14,332 ATMs across the country as on 30 September 2017, the net-
work of Axis Bank spreads across 2,033 cities and towns, enabling the bank to reach out to a large
cross-section of customers with an array of products and services. The bank also has nine over-
seas offices with branches at Singapore, Hong Kong, Dubai (at the DIFC), Shanghai and Co-
lombo; representative offices at Dubai, Abu Dhabi and Dhaka and an overseas subsidiary at Lon-
don, UK.The Bank has five wholly-owned subsidiaries namely Axis Securities and Sales Ltd, Axis
Private Equity Ltd, Axis Trustee Services Ltd, Axis Asset Management Company Ltd and Axis
Mutual Fund Trustee Ltd
Financial Weekly

June 2022 18
RESEARCH REPORT
DIAMINES & CHEMICALS LTD

(500120) (296) (Face Value Rs.10)
Diamines and Chemicals Limited Particulars 3 Month End
engages in the manufacture and sale Q4FY22 Q4FY21 % Var.
of ethyleneamines in India. The Sales 20.30 14.41 40.87
company's products include pipera- Op. Profit 9.55 2.93 225.94
zine anhydrous, piperazine, ethylene- PAT 7.16 2.15 233.02
diamine, diethylenetriamine, amino
ethyl piperazine, polyamines mix, monoethanolamine, triethylenediamine, bitu-
men emulsifier, acid corrosion inhibitor, anti stripping agents, ethylene diamine
acid phosphate, rust inhibitor, triethylene tetramine, and tetraethylene pentamine.
Diamines & Chemicals' products are being offered in industries such as pharma-
ceuticals, agrochemical, lubricants, fuel additives, and dyes and pigments.
It has an equity base of just Rs.9.78 crore that is supported by reserves of
around Rs.90.41 crore. The Promoters hold 54.44% while the investing public
holds 45.56% stake in the company. It is debt free company.
For Q4FY22, DACL posted 233.02% higher operating profit of Rs.7.16 crore
on 40.87% higher sales of Rs.20.30 crore with an EPS of Rs.7.32.
Currently, the stock trades at a P/E of just 17.3x. Company declares 30% divi-
dend for FY22.
On account of strong fundamentals, it is likely to achieve decent levels
in 9-12 months. Keep stop loss of Rs.260 for your buying.

Financial Weekly

June 2022 19
SMALL BUT BEAUTIFUL IDEAS
Brijesh Barot, Surat (9723108999) brijesh_3011@yahoo.com
R SYSTEMS INTERNATIONAL LIMITED

(532735 & NSE) (214.15) (F V Re.1)
R Systems is a leading provider of tech- (Rs. Cr.) March 21 March22
nology, artificial intelligence, analytics and Sales 247 343
knowledge services. It partners with custom- Net Profit 24 29
ers to enable or elevate their digital transformation with diversified digital offerings including
product engineering, cloud enablement, quality assurance testing and digital platforms and
solutions.
" Company has reduced debt.
" Company is almost debt free.
" Company is expected to give good quarter
" Company has delivered good profit growth of 22.83% CAGR over last 5 years
" ROCE 38.4%
" ROE 31.9%
" Promoters Holding :51.67%
" FII Holding :0.51%
Technical Speaking : Currently company's share price quoting 214.1 on Friday
close. Investor can accumulate between 215 to 180 for short term target of 275 medium
term target of 350 and long-term target of 425 and more.
Financial Weekly

June 2022 20
Jatin Sanghavi
Market Scan (Mumbai)
(M) 098205 26455
jatinsanghavi100@yahoo.com
SHORT TERM TREND TURNS POSITIVE

BUY ON DECLINES :- The Relief Rally is finally taking roots, as after a gap of more
than 5 weeks, both the indices managed a close above the 20dma. Thus the Short Term
Trend has turned Positive and as a result the Market is now changing from a 'Sell on Rise' to
'Buy on Declines'. Despite the rise in prices, the Market is still not out of the woods. Even
though the Retracement is getting stronger, the Long Term Trend still remains down.
BULLISH GAP AS SUPPORT :- On Friday, both the indices moved up forming a
Bullish White body candle after registering a Bullish Upward Gap. Thus in the near term, this
Bullish Gap at Sensex 54449-54346 and Nifty 16221-16204, will now act as Support Zone. A
break of this Support Zone, will lead the Nifty down to test the Supports of 15903-15739.
16484-16651 : RESISTANCE ZONE :- After turning the Short Term Trend Up, both
the indices will now target the strong Resistance Zone at Sensex 55070-55613 and Nifty
16484-16651. Overcoming this Resistance Zone will be tough but once crossed, Nifty will
aim at the Resistance Zone at 16892-16918 which is a confluence of 50% Retracement and
the Medium Term Average of 50dma. Equivalent level for the Sensex is at 56552-56560.
This Weeks Recommendations

Stocks CMP SL Tgt-1 Tgt-2
Buy Bajaj Fin. 5993 5877 6173 6362
Buy MetroPolis 1665 1625 1730 1799
Buy LTi 3998 3923 4113 4233
Buy VoLTAmP 2130 2086 2197 2267
Buy HDFCLiFE 598 587 615 633
:::: INDEX LEVELS ::::

S3 S2 S1 CLOSE R1 R2 R3
NIFTY 15800 15984 16179 16352 16484 16651 16824
SENSEX 52669 53425 54130 54884 55501 56242 56860
Financial Weekly

June 2022 21
Financial Weekly

June 2022 22
SMART BANKING & FINANCIAL SERVICES
By Vijaya Kittu M, GetPaidIndia.com
The author feels investors should constantly track their invested stocks and sectors to have an
edge over the market.
1. PASSIVE MUTUAL FUND Sculture is still new in India but is fast growing. SEBI is-
sued a circular setting the norms for debt and hybrid ETF & Index funds, a market-making
framework of ETFs, investor education and awareness charges, direct transactions in ETFs
through AMCs, etc. It also clarified tracking error and tracking differences, valuation norms for
FoF investing in ETFs, disclosure of an indicative NAV (called iNAV), liquidity window for
investing in ETFs by AMC, and rebalancing period and disclosure norms. SEBI also pre-
scribed a minimum subscription amount for Debt/Hybrid ETF/Index fund NFO. SEBI also
allowed passive ELSS schemes that will have the top 250 companies as the benchmark
index.
2. HDFC MUTUAL FUND has filed draft offer documents for three debt index funds and
three equity index funds on May 23, 2022. All fund houses are marching to SEBI to launch
passive funds.
3. FLEXI CAP emerged as the equity category that attracted the most mutual fund inflows in
2021-22. As much as Rs. 35,877 crores inflows were reported in this category created in
November 2020 by SEBI. The category allows fund managers to invest up to 65% of their
assets across all market caps - large, mid, and small, without any restrictions. Investments in
flexcap schemes account for 17 percent of investments in open-ended equity schemes.
4. AXIS MUTUAL FUND's ex-fund manager and chief dealer,Viresh Joshi, has sent a
legal notice to the fund house citing 'unlawful termination.'Joshi has hired Mumbai-based
MansukhlalHiralal& Company to fight his case. Meanwhile, Axis MF has hired Deloitte as a
second investigator in the front-running case. Media reports say that SEBI is investigating
three other cases apart from Axis MF on front-running cases. Meanwhile, the Income-tax
Department is also working to tighten the noose against those who lavish brokers and deal-
ers who made unlawful gains and purchased luxury cars and properties. The Income-tax
Department is likely to send notices questioning them about the source of funds for acquiring
the properties, lapses in disclosures in IT returns, and why taxes on rental income are not
being paid.
5. AMFI asked all fund houses to bring back their mutual fund executives to work from the
office starting June 10. AMFI allowed the fund houses executives to work from home be-
cause of the COVID-19 lockdown and related restrictions. Experts believe that Axis MF front
running episode and several other lapses went unnoticed because of allowing to work from
home.
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Financial Weekly

June 2022 23
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Financial Weekly

June 2022 24
SMART
BUY OF THE WEEK
Dark Horse
Dark Horse-1
DENIS CHEM LAB LTD
(537536) (58) (Face Value Rs.10)
Company started commercial production Particulars Year Ended
for sterile Intravenous injectibles in 1984. FY22 FY21 % Var.
Since more than 35 years company has Sales 136.56 109.32 24.92
been actively delivering high quality ster- Op. Profit 14.36 10.26 39.96
PAT 6.26 2.26 176.99
ile Intravenous injectibles and contributing
in saving lives. Company Manufacture and market sterile Intravenous injectibles in Both
Glass and Plastic Bottles with capacity of 810 million bottles per Annum. Company's manu-
facturing facilities are located in a pollution free environment near Ahmedabad, Gujarat. The
Manufacturing facilities are located on a land area of about 14000 sq. metres, the built up
area for the manufacturing operations is about 7000 sq.m. Its manufacturing facilities have
been approved by the Foods and Drugs Control Administration Authority (FDCA), Gujarat &
WHO GMP. Its manufacturing facility has an installed capacity to manufacture 240 Million
plastic bottles 258 million glass bottles and 312 million of Aqua Pulse bottles per Annum.
DCLL has an equity of Rs.13.88 crore and reserves of Rs.53 crore. The promoters hold
38.98% while the investing public holds 61.02% stake in the company.
For Q4FY22, it posted PAT of Rs.0.94 crore as against loss of 0.29 crore in Q4FY21 on
36.26% higher sales of Rs.37.77 crore fetching an EPS of Rs.0.68. For FY22, it posted
176.99% higher PAT of Rs.6.26 crore on 24.92% higher sales of Rs.136.56 crore and an
EPS of Rs.4.51.
Currently, the stock trades at a P/E of 12.9x. It declares 15% dividend for FY22.
Investors can watch this stock with a stop loss of Rs.48. It may give very good
returns in medium to long term.
Cont...
Financial Weekly

June 2022 25
Dark Horse-2
SUNIL HEALTHCARE LTD
(537253) (73) (Symbol: SUNLOC)
(Face Value Rs.10)
Established over four decades ago, Particulars Year Ended
Sunil Healthcare has become the second-
FY22 FY21 % Var.
Sales 119.16 90.29 31.97
largest manufacturer of Empty Hard Gela-
Op. Profit 17.38 5.32 226.69
tin Capsules in India. The Company manu- PAT 6.42 -0.64 -
factures empty hard gelatin capsules shell,
HPMC and pullulan capsules shell and ayurvedic medicines. Its products are categorized
based on their type, specifications and customization. The Company offers various cap-
sules, including BSE/TSE Free Capsules, Pearl Capsules, Liquid Fill Capsules, Stick Free
Capsules, Flavored Capsules, SLS Free Capsules, Natural Color Capsules, Non-Azo Cap-
sules and Preservative Free Capsules. Its ayurvedic products include haldi extract, ginger
extract, vasaka extract and salaki extract, among others. The product of the Company, hard
capsule shell is used by pharmaceutical and food supplement companies as a container for
administering medicines and food supplements. The Company has manufacturing plant in
Alwar (Rajasthan), India. Company had introduced the concept of 'Double Lock Capsules'
which is now becoming a standard in the industry.
SUNLOC has an equity of Rs.10.25 crore and reserves of Rs.39.70 crore. The promoters
hold 73.53% while the investing public holds 26.47% stake in the company.
For Q4FY22, it posted PAT of Rs.4.01 crore as against loss of Rs.0.60 crore in Q4FY21
on 35.97% higher sales of Rs.31.68 crore fetching an EPS of Rs.3.91. For FY22, it posted
PAT of Rs.6.42 crore as against LOSS of 0.64 crore in FY21 on 31.97% higher sales of
Rs.119.16 crore and an EPS of Rs.6.26.
Currently, the stock trades at a P/E of 11.7x.
Investors can watch this stock with a stop loss of Rs.62. It may give very good
returns in medium to long term.
Financial Weekly

June 2022 26
Global & Indian stock Markets
have shown good recovery in the last sessions.
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Financial Weekly

June 2022 27
TECHNICAL TALK
Dhananjay Kadam - TECHNICAL ANALYST
Corrections Are Temporary, Growth is Permanent
NIFTY (16352)
:- Today closed on 16352. On
the weekly chart Nifty showed
resistance of 17000 and sup-
port price of 14500. Nifty will
trade in a narrow range of
15450--17000 in coming
weeks. Nifty will go down and
next support will be 15450. As
per the last 40 years technical
analysis data, whenever the
market performs upside continuously for three years next 1 or 1.5 years it shows a bearish or
sideways phase . Follow all disciplines of risk management and portfolio management. Always
remember sometimes NO TRADE ALSO A TRADE TO SAVE PROFIT AND CAPITAL.
BANKNIFTY - (35613) On the weekly chart BANKNIFTY is trading in a sym-

metric triangle zone it will trade in the same price range of 36500-33000. If it crosses a symmetrical
triangle zone then we will get a clear direction in BANKNIFTY.
Financial Weekly

June 2022 28
JUBILANT FOOD - 516 :- Jubilant foodworks limited is part of the jubilant
Bhartia group and is India's largest food service company. The company holds the master fran-
chise rights for three international brands Dominos Pizza, Dunkin Donuts and Popeyes address-
ing 3 different food market segments. The company also entered into the exciting world of biryani
with the launch of 'EKDUM'. It offers the widest range of biryani curated from various parts of India
using authentic ingredients along with an extensive range of Kebabs, Curries, Breads, Desserts
and Beverages. The Company currently operates more than 2000 outlets for Domino's Pizza ,
Dunkin Donuts and Hong's Kitchen and is a market leader in the pizza segment.
On daily price chart It made a bullish price pattern W pattern , as per this pattern stock price may
come upto 600 we can buy this stock with daily closing basis Stop Loss of 495 for 15 days.
Financial Weekly
Every Sunday Every Wednesday
English & Gujarati Edition Gujarati Edition

Financial Weekly

June 2022 29
Techno Funda Sachin Shah :
growyourwealthwithsachin@gmail.com
(Mumbai)
sound stocks M. : 9372277340
TARSONS PRODUCTS LTD

(543339 & NSE) (687.90) (Face Value Rs.2)
Tarsons Products Limited has more than three decades of experience in the
science labware and plastic labware industry, Tarsons is a leader in India in the
production and supply of laboratory plastic ware for use within molecular biol-
ogy, cell culture, genomics, proteomics and immunology. Tarsons applies its
unparalleled innovation and expertise in research and development, and com-
bines that with engineering dexterity to create state of the art Plastic Labware
and Life Science products. (Rs. Cr.) FY22 FY21
Accumulate on dips with a Sales 300.79 227.91
target of 780 within 6 to 9 Operating Profit 152.69 103.43
PAT 100.66 68.87
months.
Financial Weekly

June 2022 30
Terrific Shots - Dilip K. Shah
Garware Hi-tech (Rs. 682.00) (Code: 500655) :- Shares of this X group listed
company have face value of Rs. 10. The shares touched a 52-week high of Rs. 1225 and low of
Rs. 585. The company’s market cap is Rs. 1585 crore. Promoter holding is 60.72%, while insur-
ance companies hold 2.57%. It has reported bumper results in FY2022 with profit shooting up from
Rs. 126 crore to Rs. 167 crore, and sales from Rs. 989 crore to Rs. 1303 crore. For the March
quarter, sales rose from Rs. 288 crore to Rs. 324 crore, and profit from Rs. 32 crore to Rs. 45 crore.
Its equity is Rs. 23.33 crore and reserves Rs. 1688 crore. The stock’s book value is Rs. 736, and
the price to book value is 0.93. the company has paid an attractive dividend of Rs. 10 per share for
the fiscal. Noted investor Ashish Kacholiya holds 3.72% stake in the company.
Axis Bank (Rs. 664.00) (Code: 532215) :- Shares of this A group listed private lender
touched a 52-week high of Rs. 866 and low of Rs. 630. Axis is the country’s third largest private
sector bank and offers financial services to large and mid sized corporates, MSMEs, agriculture
sector, and retail business. The bank has 4685 branches, 10990 ATMs, and 5972 cash recyclers.
It also has overseas presence in the UAE, Singapore, UK, and other places. For the March quarter,
Axis Bank reported income of Rs. 18,208 crore and profit of Rs. 4434 crore. The profit jumped by
over 95% for the year. The gross NPAs declined from 3.70% to 2.82% and net NPAs from 1.05% to
0.73%. Assets and advances have grown at a CAGR of 14% in the past five years, and deposits
15%. The stock can be seen crossing Rs. 700 in the short term and Rs. 825 in the next 3-4 quarters.
M&M (Rs. 923.00) (Code: 500520) :- Shares of this A group listed passenger cars and
utility vehicles manufacturer touched a 52-week high of Rs. 978 and low of Rs. 671. The company
has a very strong presence in the tractor segment. It has reported very strong tractor sales, while
SUV and utility vehicle sales have shown a positive trend. For the first nine months of the fiscal,
income increased from Rs. 31529 crore to Rs. 40307 crore, and profit from Rs. 220 crore to Rs.
3640 crore. It seems the profitability is back to the pre-pandemic levels. Promoter groups hold
19.47% stake in M&M, while foreign institutions and domestic institutions hold 37.30% and 28.85%
respectively. Its equity is Rs. 555 crore, and reserves Rs. 40,771 crore. Value unlocking may be
seen in the stock as its subsidiaries prepare for IPOs.
Info Edge (Rs. 3693.00) (Code: 532777) :- Info Edge is a leading premier online
classifieds company provider with services in recruitment, matrimony, real estate, and education. It
runs www.naukri.com, a strong brand in the recruitment segment, besides www.naukrigulf.com,
www.quadranglesearch.com, www.firstnaukri.com, etc. In the real estate segment, it runs
www.99acres.com, and www.shiksha.com in education segment. It also owns other popular por-
tals such as www.meritnation.com, www.policybazaar.com, www.canvera.com, www.zomato.com,
and www.happilyunmarried.com. Its matrimony portal www.jeevansathi.com is also very popular.
Info Edge’s equity is Rs. 129 crore and reserves Rs. 19,205 crore. Promoter holding is 38.40%.
FIIs hold 36.37% stake and mutual funds 11.04%. For the December quarter, income went up from
Rs. 278 crore to Rs. 419 crore, and profit from Rs. 679 crore to Rs. 4598 crore. This concludes the
profit from the sale of its stake in PolicyBazaar. The share touched a 52-week high of Rs. 7463 and
low of Rs. 3314. It has a market cap of Rs. 47,642 crore. After IPOs of Zomato and PolicyBazaar, it
is gearing up for listing more subsidiaries. The stock has halved from the high, and there appears
to be little downside.
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

June 2022 31
BUY.... BUY....BUY TIPS OF THE WEEK
Co. Name Code Price Co. Name Code Price
Adani Ent 512599 2080.00 Kohinoor Food 512559 39.00
Coromandel Int 506395 938.00 Banco Prod. 500039 151.00
Minda Ind 532539 903.00 Eros Int. 533261 27.00
HDFC Bank 500180 1391.00 Bank of Baroda 532134 98.00
Gareware H.T. 500655 682.00 TVS Motors 532343 723.00
Reliance Ind 500325 2575.00 Indian Hotel 500850 224.00
Balkrishna Ind 502355 2231.00 Ambuja Cement 500425 366.00
AIA Engi 532683 2070.00 ANG Life 540694 259.00
Torrent Pharma 500420 2939.00 Schneider Ele. 534139 111.00
Xpro India 590013 1026.00 AllCargo 532749 296.00
BlueDart 526612 7413.00 Tata Motors 500570 429.00
GMM Pfaudler 505255 4204.00 TCPL Packaging 523301 908.00
Page Ind 532827 44485.00 Antony Waste 543254 290.00
Persistent Sys 533179 3543.00 HDFC Life 540777 598.00
Honda India 522064 1619.00 AB Fashion 535755 259.00
Eicher Motors 505200 2742.00 Godrej Ind 500164 485.00
Bosch 500530 14185.00 Cummins India 500480 1014.00
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Financial Weekly

June 2022 32
Sarvesh Ashok Trivedi
Stock Wave (Mumbai) (Mob) 09820728124
www.chartsanketstock.com
Stock markets likely to remain volatile

BSE Index (54884.64) :- The index has shown a reflexive recovery from a low of 52669.51.
The index position looks neutral on daily charts, oversold on weekly charts, and overbought to
neutral on monthly charts. Above 54936, the index can go up to 55200, 55720, 56230, and 56740.
On the lower side, there is support at 54400 below 5434
Bank Nifty Future (35645.00) :- The index has recovered from the low of 33005.15.
The index looks overbought on the daily charts, oversold on a weekly basis, and overbought to
neutral position on monthly charts. Above 35725, the index can rise to 35900, 35955, 36270 and
36580. Below 35308, 34820 is a support level.
Nifty Future (16338.00) :- The index has shown a reflexive recovery from a low of
15740. The index position looks neutral on daily charts, oversold on weekly charts, and over-
bought to neutral on monthly charts. Above 16349 and on crossing 16398, the index can rise to
16495, 16660, 16800 and 16950. Below 16201, there is support at 16178.
Alkem (3042.00) :- The stock has shown a reflexive recovery from a low of 2828. Its posi-
tion looks neutral on daily charts, oversold on weekly charts, and overbought to neutral on monthly
charts. Above 3068, the stock can go up to 3108 and 3170. There is support at 2990 below 3000.
Axis Bank (688.00) :- The stock has shown recovered from a low of 630.05. The stock
position looks neutral on daily charts, oversold on weekly charts, and neutral position on monthly
charts. Above 693, the stock can go up to 700, 711, and 723, while 670 is a support level if it slips
below 676.
HDFC (2330.00) :- The stock has shown a reflexive recovery from a low of 2113.60. The
stock looks overbought on the daily charts and oversold on weekly and monthly charts. Above
2334, the stock can go up to 2369 and 2421. Below 2300, the stock has support at 2247.
HDFC Bank (1392.00) :- The stock has recovered since touching a low of 1280.47. The
stock looks overbought on the daily charts and oversold on weekly and monthly charts. Above
1395, the stock can go up to 1410 and 1440. Below 1357, the stock can find support at 1344.
Hindalco (409.15) :- The stock is moving sideways since touching the low of 384.95. The
stock shows oversold position on daily and weekly charts, and oversold to neutral position on the
monthly charts. Above 417, if the stock crosses 432, it could rise to 447, 463, and 471. Below 400,
support is seen at 392.
Disclosure : The Recommendations are based on technical analysis. There is a risk of loss in trading.
Golden quote :- Marriages are made in heaven

and consummated on earth
Financial Weekly

June 2022 33
Corporate
MISHTANN FOODS LTD Feature
BSE Code : 539594 • CMP: Rs. 23.50
Announces Bonus Shares

Mishtann Foods Ltd. (BSE: 539594) has announced its launch of Rock Salt under the brand of "Mishtann" in the retail market
with the packaging of 500 grams and one Kilogram on the auspicious occasion of Akshaya Tritiya on May 03, 2022, and will be
available across India through its retail network of approximate 72000+ retailers. Mishtann Foods Ltd. is engaged in manufactur-
ing and marketing a large variety of rice with a focus on Basmati Rice, and pulses like dal have journeyed into unchartered
spheres and territories, elevating enroute the industry standards due to stringent quality control practices, is on a growth path with
several new plans.
Mishtann Rock Salt has several health benefits which include promoting digestion, boosting metabolism and immune system
due to the presence of Vitamin K, treatment of sore throat, stabilising blood pressure, promoting healthy skin, etc. India has a huge
rock salt market due to its enormous health benefits and is loaded with sodium chloride and other different micronutrients such
as calcium, magnesium, iron, sulphur, zinc, oxygen, hydrogen, and cobalt. Like common salt, it is not refined and present in its
pure crystalline form and does not contain any harmful chemicals like in common salt. This prevents rock salt from getting soggy.
Recently, it announced excellent results for the quarter and year ended 31 March 2022. For the quarter ended March 2022,
the revenue from operations grew 45% YoY, from Rs. 105.81 crore (Q4FY21) to Rs. 153.47 crore (Q4FY22). Net Profit jumped 41
times YoY from Rs. 0.31 crore to Rs. 13.15 crore.
The company had recommended bonus equity shares in the proportion of 1 (One) Equity Share of Rs. 1 each for every 1
Equity Share of Rs.1 each held by shareholders of the Company as on the record date.
*Mishtann Foods Ltd Receives Orders for Mishtann Salt
Mishtann Foods Ltd. engaged in manufacturing and marketing of a large variety of rice with focus on Basmati Rice,
and pulses like dal has bagged several orders for its Mishtann brand Salt from major retail stores,w hich will be
supplies by July 2022.
The company has journeyed into unchartered spheres and territories, elevating enroute the industry standards due to
stringent quality control practices, is on a growth path with several new plans.
***
Mishtann Foods Ltd Receives Orders for Mishtann Salt

Mishtann Foods Ltd. engaged in manufacturing and marketing of a
large variety of rice with focus on Basmati Rice, and pulses like dal
has bagged several orders for its Mishtann brand Salt from major
retail stores,which will be supplies by July 2022.“The company has
journeyed into unchartered spheres and territories, elevating
enroute the industry standards due to stringent quality control
practices, is on a growth path with several new plans.
According to leading Analysts, the stock price seems

undervalued and can easily go up to Rs.35 levels.
Mishtann Foods Enters into New Product segment Launches Rock Salt
Financial Weekly

June 2022 34
Dilip Davda
e-mail Expert’s Eye
dilip_davda@rediffmail.com
Derivatives expiry week brings high volt drama

Its second positive week in a row
The week under report had derivatives expiry for May 2022. It marked high volt
drama with both way wild movements for almost all sessions. After posting hat trick of
losses for the first three sessions, benchmarks surprised one and all with good recov-
ery on the derivatives expiry day. Markets posted marginal positive market breadth on
Thursday after three consecutive negative tone. Global cues played spoil sport with
continued exit of FIIs who have been having rampant selling since beginning of CY
2022. FIIs continued to be the net sellers for the week as usual impacting Rupee/Dollar
EX-RIGHT parity and also spoiling market sentiment a bit. Market men
Davangere Sugar (69 for 100)
felt a sigh of relief as benchmarks closed at a respectable
RIGHTS ISSUE level by weekend. Thus we marked second positive week
Kallam Textiles (7 for 30) in a row amidst all odds.
During the week, while BSE Sensex moved in the range
Bonus Announcements
Minda Ind. (1 for 1), of 54936.63 - 53425.25, NSE Nifty hovered between
Torrent Pharma (1 for 1), 16414.70 - 15903.70.
Xpro India (1 for 2), During derivatives expiry week, benchmarks posted
GMM Pfaudler (2 for 1) and
Radhe Developers (1 for 1) weekly GAINs of 558.27 points for BSE Sensex and 86.30
points for NSE Nifty.
EX-BONUS The week marked cautious positive opening for Mon-
Sawaca Business (10 for 100) day and after moving both ways, benchmarks finally closed
EX-SPLIT in red with small losses. While BSE Sensex lost 37.78
Avexia (2 for 1), points to close at 54288.61, NSE Nifty marked deficit of
Gujchem Dis (10 for 1), 51.45 points to end the day at 16214.70. Momentum wit-
Sawaca Business (10 for 1).
nessed by the market following reduced duties on petro-
BONUS MEET leum products by the Govt. of India short lived as market
Shankarlal Rampal (28.05.22),
A Infra (30.05.22), gave up post noon. IT, Auto shares lead the rally but Metal
ANG Life (30.05.22), counters played spoil sport. Rising inflation also kept a tab
Swasti Vinayaka Art (30.05.22)
AKI India (02.06.22) Cont....
Financial Weekly

June 2022 35
on FMCG counters. Mid and Small cap indices underperformed benchmarks and kept
market breadth negative. FIIs were the net sellers and DIIs were the net buyers for the
day.
We marked rerun of previous sessions history for Tuesday. After cautious positive
openings, benchmarks ended with higher losses. BSE Sensex marked deficit of 236.0
points to end the day at 54052.61 and NSE Nifty posted loss of 89.55 points to close at
16125.15. Amidst global uncertainty, selling spree from FIIs on IT and Pharma counters
lead the doom for the second day. Reports of ban of Sugar exports derailed sentiment
for sugar counters. Mid and Small cap indices underperformed benchmarks and kept
market breadth negative. FIS were the net sellers and DIIs were the net buyers.
Though benchmarks posted gap up openings on Wednesday, post noon after wild
both way movements, it gave up to close in red with big losses. BSE Sensex lost
303.35 points to close at 53749.26 and NSE Nifty marked deficit of 99.35 points to end
the day at 16025.80. Weak global market sentiment prompted redemption pressure on
Mutual Funds and their selling kept indices on a sliding mode. IT counters lead the
doom and got support from fancy and side market counters. Mid and Small cap indices
underperformed benchmarks and market breadth remained negative for the third ses-
sion in a row. FIIs continued to be the net sellers and DIIs were the net buyers.
After cautious positive opening on Thursday, benchmarks moved both ways and
finally closed in green with good gains on short coverings in oversold markets. BSE
Sensex gained 503.27 points to end the day at 54252.53 and NSE Nifty scored 144.35
points to close at 16170.15. With high volt volatile drama, market turned green in the
final hour and market smartly recovered. IT, Metal, Banking and pharma counters lead
the rally and got support from the side market. While Mid cap index outperformed,
Small Cap index underperformed benchmark. However, market breadth remained mar-
ginally positive for the day. FIIs were the net sellers and DIIs were the net buyers.
Friday marked gap up opening and after trading in green zone for the day, bench-
marks closed with good gains. BSE Sensex scored 632.13 points to close at 54884.66
and NSE Nifty gained 182.30 points to end the day at 16352.45. Thus both bench-
marks belied the fear of closing below 52K and 15K respectively by weekend. Pharma,
Banking, IT counters lead the rally and got support from side market as the ensuing
week has many corporate result announcements. Oil and Gas, Metal, Power counters
marked hammering at higher levels and thus kept a tab on general sentiment. Mid and
Small cap indices outperformed benchmarks and kept market breadth positive. FIIs
remained net sellers while DIIs continued to be the net buyers for the day.
Cont....
Financial Weekly

June 2022 36
Dollar firmed up against Rupee and crossed Rs. 77.56 a dollar by weekend. Even
Crude marked last two months high of 118$ a barrel and raised concern over petro-
leum products price hike and its cascading impact on inflation globally. For the ensuing
week, we have over 1700 corporate results that will keep market in a highly volatile - on
a stock specific mode.
Market men will have on radar cement, auto sector despatches for the month of May
2022, progress of monsoon as well as global economic data. Global cues will keep a
tab on general sentiment as usual.
Amidst such scenario, BSE Sensex may hover between 56000 -53500 and NSE
Nifty in the range of 17300-15500.
DISCLAIMER : No financial information whatsoever published anywhere here should be construed as an offer to buy or sell
securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information
purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified
financial advisor before making any actual investment decisions, based on information published here. Any reader taking
decisions based on any information published here does so entirely at its own risk. Investors should bear in mind that any
investment in stock markets is subject to unpredictable market-related risks. The above information is based on RHP and other
documents available as of date coupled with market perception. The author has no plans to invest in this offer.
(SEBI registered Research Analyst-Mumbai).
Nifty & Sensex Movement during the last week

Sensex Open High Low Close Diff
23-05-2022 54,459.95 54,931.30 54,191.55 54,288.61 -37.78
24-05-2022 54,307.56 54,524.37 53,886.28 54,052.61 -236.00
25-05-2022 54,254.07 54,379.59 53,683.16 53,749.26 -303.35
26-05-2022 53,950.84 54,346.22 53,425.25 54,252.53 503.27
27-05-2022 54,671.50 54,936.63 54,449.34 54,884.66 632.13
Net Weekly Gains 558.27
NSE - Nifty Open High Low Close Diff
23-May-22 16290.95 16414.7 16185.75 16214.7 -51.45
24-May-22 16225.55 16262.8 16078.6 16125.15 -89.55
25-May-22 16196.35 16223.35 16006.95 16025.8 -99.35
26-May-22 16105 16204.45 15903.7 16170.15 144.35
27-May-22 16296.6 16370.6 16221.95 16352.45 182.3
Net Weekly Gains 86.3
Financial Weekly

June 2022 37
DIVIDEND ANNOUNCEMENTS
Action Const (30%), ADF Foods (40%), Amines and Plasti (20%), Apex Frozen (25%), Bella Casa
(9.1%), Best Agro (20%), Bhagwati Auto (10%), Bharat Electro (150%), BHEL (20%), Birla Soft (150%),
Bombay Oxy (20%), Capri Global (25%), Cochin Mineral (15%), Competent Auto (10%), Data Pat-
terns (175%), Dhanuka Agri L(300%), Divi's Lab (1500%), Dollar Ind (150%), Ganesha Eco (20%),
Graphite India (500%), Guj Craft (10%), Gulf Oil (250%), H G Infra (10%), HLE Glass (50%), J K Cement
(150%), Jamna Auto (100%), Kanpur Plasti (12%), Karur Vysya (80%), Mazda (121%), Metroglobal
(20%), Mindteck (10%), Nelcast (15%), Nikhil Adhesive (20%), Nilkamal (150%), Pitti Engg (17%),
PlatinumOne (10%), Pokarna (30%), Power Grid (22.5%), Power Mech (15%), Premco Global (30%),
Pudumjee Paper (30% + 20%), R J Shah (25%), Ram Ratna Wires (100%), Redington (330%), Repco
Home (25%), Rupa & Co (300%), Salzer Elect (18%), Sansera (100%), Shilpa Medi (110%), Shree Ce-
ment (450%),Shri Dinesh (75%), Shri Jagdamba (50%), SAIL (22.5%), Sumedha Fiscal (10%), Suryalata
Spg (30%), Talbros Auto (15%), Talbros Engg (20%), TN Petro (30%), New India Assur (6%), Ramco
Cement (300%), Themis Medi (50%), TTK Health (100%), Ugar Sugar (25%), Universal Cable (15%),
Vaibhav Global (75%), Vindhya Tele (100%), Wires & Fab (1%), Alkali Metals (20%), Amrutanjan
Health (260%), Asian Granito (7%), Bank of India (20%), Bayer Crop (250%), Birla Cable (15%), Bombay
Cycle (50%), Centum Electro (25%), Compucom Soft (20%), CSL Fin (25%), Dalmia Bharat Sugar (50%),
DCW (20%), Dharamsi Morarji (10%), Dutron Poly (14%), eClerx (10%), Emkay Global (12.5%), Gabriel
(100%), Globus Spirit (30%), Grasim Ind (250% + 250%), Guj Alkali (100%), Haldyn Glass (60%), IMFAL
(75%), JM Fin (114.999%), Jyothy Lab (250%), KIOCL (7.9%), Kirloskar Bros (150%), Lumax Ind (135%),
Manali Petro (50%), Menon Piston (75%), Minda Ind (50%), Orient Adhesives (15%), Oriental Car-
bon (70%), Poly Medi (50%), Polymechplast (10%), Praveg Commu (40%), Prime Secure (45%), RITES
(35%),Rushil Décor (5%), Sadhna Nitro (15%), Sakthi Fin (6%), SNL Bearing (65%), Subros (35%),
Phoenix Mills (120%), Ultramarine & Pig (250%), Uniphos Enter (282.5%), Voith Paper (60%), Waaree
Renew (5%), Accel (15%), Adani Ports (250%), AIA Engg (450%), Andhra Petro (15%), Apollo Hospi-
tal (235%), Aeris Agro (8%), Asahi India (200%), Asso Alcohol (10%), Astra Micro (70%), AuSom
Enter (10%), Bank of Maharashtra (5%), Bata India (80% + 1010%), BPCL (60%), Cg Vak (10%), Chandra
Prabhu 15%), Chemfab Alkalis (12.5%), Coal India (30%), Deepak Fert (90%), Dev Info (5%), Dhunseri
Ventures (40%), Disa India (100%), Ekennis Soft (10%), Emami Paper (80%), Empire Ind (250%), Gar-
den Reach (8.5%), GMM Pfaudler (150%), HEG Ltd (400%), IIFL Wealth (1000%), J L Morison (10%),
Jai Corp (50%), Kakatiya Cement (30%), Kolte Patil (20%), Lakshmi Elect (150%), Lotus Eye (5%), MM
Forging (60%), Medicamen (10%), MOIL (30%), Morganite Cruci (240%), MSTC (44%), Nahar Capital
(30%), Nahar Poly (50%), Nahar Spg (40%), Nakoda Grp (1.5%), Nesco (150%), NHPC (5%), Panasonic
Energy (75%), Pearl Global (50%), Pee Cee Cosma (10%), Polyplex Corp (210%), Power Fin (12.5%),
Praj Ind (135% + 75%), Rajpalayam Mills (10%), Reliance Chemo (25%), S H Kelkar (7.5%), Sanghvi
Movers (50%), Sunrhea Tech (10%), Sarla Perform (200%), Shalby (10%), Shiva Mills (12%), Shiva
Texyarn (14%), Shivalik Rasayan (10%), Shreyas Shipping (25%), Sicagen (2.5%), Simplex Realty (10%),
SJVN (5.5%), S M Auto (12.5%), Suprajit Engg (110%), TCPL Pack (100%), Tinna Rubber (40%), Tor-
rent Pharma (160% + 300%), TVS Srichakra (163%), United Drilling (6%), Valiant Org (35%), Vardhman
Financial Weekly

June 2022 38
Holding (50%), V-Mart Retail (7.5%), Voltamp Trans (350%), Whirlpool (50%), Wim Plast (80%), Xpro
India (20%), Yuken India (8%), Ashok Alco (5%), AstraZeneca (400%), Bambino Agro (16%), Banco
Prod (1000%), BDH Ind (36%), Berger Paint (310%), Bhagiradha Chem (20%), Bharat Dynamic (10%),
CCL Prod (100%), Cheviot (600%), Crest Ventures (5%), Cummins India (525%), Denis Chem (15%), Dhunseri
Tea (40%), Elixir Cap (12.5%), Flex Foods (10%), Garware Hi-Tech (100%), Generic Engg (1%), Goodluck
India (100%), Goodricke Grp (30%), Goodyear India (200% + 800%), Guj Intrux (30%), Guj State Fert
(125%), Hawkins Cooker (600%), HBL Power (40%), Hercules Hoists (125% + 60%), Hind Recti (20%),
Hindalco (400%), Hindustan Comp (40%), Hindustan Hardy (20%), HPL Elect (1.5%), India Glycol (75%),
Ineos Styro (1050%), Insecticides (30%), ITD Cement (45%), J B Chem (400%), John Cockerill (20%),
Kanco Tea (10%), Kanoria Chem (20%), Kirloskar Ind (100%), Lakshmi Auto (10%), Mercury Lab (35%),
Mishra Dhatu (15.4%), Motherson Sumi Syst (65%), Motherson Sumi Wiring (85%), Multibase India
(10%), Mysore Petro (25%), Oberoi Realty (30%), Page Ind (700%), Piramal Enter (1650%), Poddar
Pigments (25%), Polychem (30%), Premier Explo (15%), Raminfo (6%), Rane Holding (120%), Roto Pump
(142.5%), Saksoft (30%), Sayaji Ind (20%), Shree Pushkar (20%), Sinclairs Hotels (50%), S I Paper (10%),
Sudarshan Chem (250%), Sundaram Fin (100%), Swastik Safe (10%), Swelect Energy (30%), Thirumalai
Chem (250%), TPL Plastech (20%), Trejhara (5%), Veto Switch (10%), Vijaya Diagno (100%), Virat Ind
(10%), West Coast Paper(300%), Zee Entert (300%), Aarti Ind (30%), ABM Know (25%),ADC India (40%
+ 100%), Aegis Logi (50%), Akzo Nobel (350%), Alphageo (80%), Apar Ind 150%), Ashiana Housing
(25%), Astral (175%), B & A Pack (15%), Bajaj Steel 40%), Balmer Lawrie (65%), BCL Ind (30%), Beekay
Steel (10%), BEML (50%), Bengal & Assam (150%), Bharat Rasayan (15%), Bodal Chem(40%), Bright
Bros (50%), City Union (100%), Coromandel Agro (25%), Crompton Greaves Consu (125%), Diana Tea
(10%), Engineers India 20%), Evans Elect (20%), Everest Ind (60%), Everest Kanto (35%), Everest Org
(5%), Excell lnd (450%), Faze Three (5%), Filatex (10%), Fine Org (180%), Force Motors (100%), Frontier
Springs (10%), GAIL (10%), Gandhi Spl (200%), General Insurance (45%), GOCL Corp (150%), Heritage
Foods (50%), Hindustan Tin (12%), Hitachi Energy (150%), HUDCO (27.5%), India Cement (10%), India
Gelatine (25%), Indian Hume (100%), Indo National (100%), Info Edge (50%), Intl Combustion (20%),
Intl Conveyors (100%), Ion Exchange (100%), IRCON (32.5%), Jenburkt Pharma (120%), Jindal Poly
(50%), JSW Steel (1735%), Jubilant Pharmova (500%), KCP Sugar (10%), Kaira Can (120%), Kallam Tex-
tiles (10%), Kalyani Forge (30%), Kemp & Co. (40%), Kilpest (25%), Kopran (30%), Kovai Medi (18%),
Kovilpatti Lakshmi (18%), KPT Ind (20%), KRBL (350%), Lahoti Overseas (20%), Madhav Marbles (2.5%),
Maharashtra Seamless (100%), Mangalam Org (15%), Mukesh Babu (12%), Munjal Auto (50%), NG Ind
(35%), Narmada Gelatine (100%), Nirlon (110%), Oil India (50%), PBM Poly (40%), Pilani Inv (150%),
Pioneer Embro (3%), Polyspin Expo (12%), Pondy Oxides (50%), Precision Wires (50%), Prestige Es-
tates (15%), PSP Proj (50%), Puravankara (100%), RACL Geartech (10%), Rainbow Children (20%), Rama
Phosphates (8%), RCF (23.7%), RHI Magnesita (250%), Rossell India (15%), RSWM (250%), Ruchi Soya
(250%), Ruchira Papers (20%), Samkrg Pistons (25%), Satia Ind (20%), Shree Global Trade (20%), Singer
India (50%), Southern Gas (50%), Star Paper (35%), Starteck Fin (2.5%), Sumitomo Chem (10%), Sunil
Agro (5%), Supershakti Metaliks (10%), Tasty Bites (10%), TCI Express (100%), Timken India (15%), Uni-
Abex (125%), Unichem Lab (200%), VR Films (10%), Victoria Mills(50%), Weizmann (5%), Welspun Corp
(100%) etc.
Financial Weekly

June 2022 39
A. K. Asnani
(M) 9893512098
Smart Verc (Bhopal)
Author of Book
Way to Billionaire
10 Reasons not to quit

1. Assuming that the BSE Sensex was at normal levels before Covid-19, the Sensex has
gained @12.94% compound since then, lower than the average rate of about 14%
formore than 35 years!
2. Indian corporate has a low level of debt. Therefore, the rise in interest rates will not
create any significant level of NPAs.
3. The balance sheet of India Inc. is pretty strong to face the challenges.
4. The Rupee is doing pretty well compared to the leading economies' currencies. Foreign
exchange reserves are reasonably strong. Exports are doing well.
5. India has not printed currency like the western countries.
6. Relax if you invest in a fundamentally sound company with a compelling story. There is
a 100% correlation between the company's financial performance and its share price in
the long term.
7. Selling by foreign investorsis not to be construed as a signal for a weakening economy.
They have their investment plans, portfolio strategies, various investment avenues,
and risk profiles.
8. Have you heard that due to a falling share price, any employee quit the company or
supplier stopped the supply to the company, or a promoter sold the shares or closed
the company? Why should investors think of selling the shares? Investors are part-
owners in the company and are counted as the stakeholders like others.
9. Even if you think of quitting stock investments, where will you invest to beat Inflation /
Interest rates?. Historically, the stock market has gained at a much higher rate than
Inflation or any other investment asset.
Keep the best 16 stories in your portfolio and relax.
"You can't predict. You can prepare" - Howard Marks
Above are the opinion of the author, investors can act differently based on their philosophy, judgment, and risk profile.
Happy investing! A. K. Asnani - Author | Advisor | Coach | Mentor | Speaker - +919893512098
smartasn@gmail.com
(Above are only the views of the author. It should not be construed as advice to buy or sell the stock.)
Financial Weekly

June 2022 40
Kishore Purswani
(Email: kishore.purswani@gmail.com)
Beating the Sensex-V

Introduction :-
In the previous articlein this series we had discussed the learnings from the fourth chapter of the
best seller"Beating the Street" authored by Peter Lynch in which the author has shared his experi-
ences in 'Managing Magellan Fund' in 'The Early Years'. In this article we shall discuss his salient
experiences in managing Magellan fund in 'The Middle Years'.
Far From a One- Man Show
The author has shared the hard work he and his team used to put in. His day started as early as
0600 hrs so that he was ready to hand over the buy and sell orders list for the day by 0800 hrs
based on reviews of previous day's summary of transactions, summary of analysts' reports and
study of The Wall Street Journal. He shares that although it was fun to buy and sell stocks but he
would have preferred to spend 50 mins on calling more companies and spend just 10 mins in
preparing trading lists instead of the usual one hour. One of the keys to successful investing was to
focus on the companies and not on the stocks.
Peter Lynch made it a point to write down the name of company, the share price and a one or
two line summary in a note book after every contact he made in person or on telephone. He sug-
gests that this practice should be followed by every investor else one may forget the reason for
which share was bought. In order to spend more time on research he cut off the practice of Corpo-
rate Lunches started in 'The earlier Years' and switched over to telephone calls. He also avoided
meeting corporate guests and visiting analysts by restricting his lobby movements in the office.
My Not-So-Silent Partners
From 1981 onwards Magellan was far from a one-man show. He had more than one talented
analysts who given responsibility of research. These analysts rose in the ladder to manage other
funds of Fidelity or moved to become fund managers elsewhere. However, each fund manager at
Fidelity was responsible for his own research and answerable for the same rather than conven-
tional practice of picking stocks based on analysts' research. Thus the fund managers could not
blame the analysts for providing faulty information. Every individual investor should also resort to
Cont..
Financial Weekly

June 2022 41
his/her own research and rely on the same rather than relying on the tips from analysts/advisors.
He started the practice of a scheduled meeting where all analysts and fund managers were
supposed to make a presentation on picks of the weeks and the time limit was just three minutes.
However, author (who also presided the meeting) without making it known to others set the timer to
90 seconds as he felt 90 seconds is plenty of time to tell the story of a stock. Another important
feature of the meeting was that no one was allowed to criticise- one could pick up the clue or leave
it. Later these weekly sessions were replaced by daily research reports. He also had a practice of
meeting competing fund managers at least once a week to know their favourite picks which every-
one was more than happy to share. Such practice should be followed by amateur investors as well
and topic of discussioneven incasual meetings/talks should be stocks rather than courtesy ex-
changes.
It pays to be patient
By the time Magellan was open to investor public in 1981 Peter Lynch had become a more
patient investor. Magellan was still a small $ 100 million fund. Peter Lynch invested in more than
200 different stocks. He was impressed with the long range potential of restaurant chains and
retailers which had an opportunity to grow across the country and keep up growth rate @20% for
next 10 to 15 years. The principle behind this was that this growth rate would double the revenue in
3 ½ years and the share prices too will follow. He was able to see that some of his favourite picks
had something in common and it was that they were small companies with strong balance sheets
and favourable prospects. The other portfolio managers were reluctant to invest in such stocks as
they believed in safety first principle and were inclined to buy stocks of large blue chips such as
IBM and thus ensure security of their jobs.
The first half of 1982 was terrible for the stock markets. The prime rate, Inflationrate
andunemployment had hit double digits. Interest rates were as high as 13-14 percent and the
yields from bonds exceeded the returns from stocks. This led to his Principle#8.
"When Yields on long-term government bonds exceed the dividend yield of the S&P500 by 6
percent more, sell your stocks and buy bonds."
The principle was valid in those days and doesn't seem to be valid now. In fact the S & P had a
fourfold gain from 1982 to 1990 and 30 year government bonds did slightly better. However in
1991, stocks went up by 31 % and bonds did poorly proving once again that stocks will outperform
bonds in the long run. As such it is futile to sell stocks in panic when markets crash due to one
reason or the other
Peter Lynch got an opportunity to make his first appearance on a famous TV show "Wall Street
Week" where he shared the secret of his success. The secret was that he visited 200 companies in
a year and read 700 annual reports believing in the theory that "Investing is ninety-nine percent
Cont..
Financial Weekly

June 2022 42
inspiration". He also shared that when markets are up he sells off the growth and cyclicals stocks
and switches toconservative stocks. On the other hand when markets are down he replaces con-
servative stocks with growth and cyclicals stocks. This show brought popularity for the Magellan
fund and it became a 450$ million fund by end of 1982. When Magellan was a small fund it concen-
trated on bigger stocks and when it became bigger it concentrated on smaller stocks.
By early 1983 Dow had advanced 300 points from 1982 lows and the author found it difficult to
find opportunities for investing.He shared that he was happier with 300 points drops as it offered
opportunities for bargain buys.The fact that 10 to 30 % percent of net worth is lost in a market sell off
should not worry investors as it offers opportunities to acquire more shares at lower prices and thus
fortunes can be made over time
Conclusion.
The most important lesson which could be learnt from author's experience of managing Magellan
fund in middle years is that one should really work hard and rely on self-research rather than buy-
ing stocks on tips. The corrections should be seen by investors as opportunities rather than exiting
the markets in panic.
Happy investing!
Kishore Purswani
M No 9425604104,
Mail id: kishore.purswani@gmail.com
Smart Investment Website Index
22,222 hits only 1 Week
Total number of Hits
1,72,84,444
Kuber Bhandar of earnings
Future - Options, Stock - Watch, Funda - Picks,
Technical Shares, Speculative Scrips, Primary Market,
Financial Weekly

June 2022 43
Corporate
ACCURACY SHIPPING LIMITED
Feature
NSE Symbol : ACCURACY • CMP: Rs. 280.00
NSE listed Accuracy Shipping Limited (NSE: ACCURACY), is a one stop
solution for all Logistics requirements. The company has intimated the exchange
about Board meeting proposed to be held on May 30, 2022. The Board will meet
to consider and approve the audited financial results of the company for quarter
and year ended March 31, 2022. The board will also consider declaration of final
dividend for the financial year.
Popularly known in the industry as ASL, a 16 years old group with the entire
gamut of logistics services under our umbrella. With the help of its vast and
well settled network throughout India, the company is able to provide its cus-
tomers hassle free services across the board. The enterprise began on a mod-
est note and a very clear focus - to deliver the highest level of customs clear-
ance services to its customers.
This business model, supported by a constant vigil for new opportunities, soon
saw ASL grow and evolve into a logistic service partner with all possible logistics
solutions under its belt and more importantly who delivered results. On time.
Every time. The passage of time, brought with it a plethora of opportunities. Glo- SERVICES
bal markets and even the Indian markets saw businesses thrive. With opportu- Air Cargo,
nity came growth and ASL was prepared to take full advantage. Custom Clearance
With a portfolio that had now evolved to provide total logistical solutions Land Cargo,
covering customs clearance, freight forwarding, shipping, air freight, consoli- Project Cargo
dation, sea-air, inland haulage (transportation), warehousing, & cross trades, Sea Cargo
overseas warehousing and a whole range of custom- made solutions to suit
the unique requirements of each of its customers. ASL was transformed into a logistic solution powerhouse,
providing unparalleled quality service blended with a focus on total customer satisfaction. From a small
family concern, Accuracy Shipping Limited had now made the journey to a truly global logistics solutions
partner. As a leading nationwide, logistic solution provider, it offered all its customers the benefits of solid
expertise and in-depth experience, guaranteeing a complete and highly competitive range of services that
added value to every single link in the supply chain. The
company aims to be one of the market leaders across the
nation focused on customer happiness, redefining logis-
tics solutions through its dedicated and motivated team. It
is committed to being a responsible corporate citizen and
building trust. ***
According to leading market Analysts,

Accuracy Shipping is expected to hit Target price of Rs.350
Accuracy Shipping Ltd. Board to Meet to Consider

Final Dividend and Financial Results on May 30, 2022
Financial Weekly

June 2022 44
Scrip Watch - Siddharth Shah
CAMS (Rs. 2090.00) (Code : 543232) : CAMS, which acts as a registrar and transfer
agent to mutual funds, on Thursday reported a 23 per cent surge in its consolidated net profit was
at Rs 73.84 crore in quarter ended March. It was Rs 60.13 crore in the year-ago period. The
company's revenue rose by 22 per cent to Rs 243.18 crore from Rs 199.77 crore. For the full finan-
cial year 2021-22, CAMS clocked a PAT of Rs 286.95 crore, a jump of 40 per cent from the preced-
ing fiscal. Its revenue stood at Rs 909.67 crore, a growth of 29 per cent from FY 2020-21. The
company's digital platforms continued to make significant contribution to the digital adoption mo-
mentum in the mutual fund industry with myCAMS touching five million user base and MF Central
processing over two lakh non-financial service requests with a complete digital flow. Accumulate.
Minda Industries (Rs. 903.00) (Code : 532539) : Minda Industries stock spureted
last week after the company recommended issue of bonus shares in the ratio of 1:1 i.e. one bonus
share for every one share held. The company has fixed June 10, 2022 as the record date for the
same. The company posted a healthy performance as consolidated revenue jumped 10.7 per cent
quarter on quarter (QoQ) to Rs 2,415 crore and consolidated net profit was up 42.5 per cent QoQ at
Rs 144 crore. EBITDA was up 17 per cent QoQ at Rs 275.5 crore, with corresponding EBITDA
margins at 11.4 per cent, up 60 basis points (bps) QoQ. On year on year basis, EBITDA was down
9 per cent, while margins contracted by 207 bps from 13.5 per cent in Q4FY21. The company is
exceeding expectations in the seating & alloy wheels business segments and is also gaining trac-
tion with EV OEMs for its existing as well as new product profile as well as penetrating well within
existing EV OEMs.
AU Small Finance Bank (Rs. 1312.00) (Code : 540611) :- AU Small Finance

Bank is mulling a fundraise in the region of Rs 2,000 crore to Rs 3,000 crore through a QIP in the
current fiscal. In December 2019, Singapore state investment arm Temasek announced that it had
completed the acquisition of a 4.8 percent stake in AU Bank after investing Rs 525 crore. This
quantum was part of a total commitment of Rs 1,000 crore made earlier. In March 2021, AU Small
Finance Bank raised Rs 625 crore through the QIP route and the markets cheered the move which
saw a strong reception from sovereign wealth funds, large foreign portfolio investors, life insurance
companies and domestic mutual funds. AU’s Q4 net profit was up 105 per cent at Rs.346 crore.
The stock is worth accumulation.
Disclosures : At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm,
his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested
interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based
on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible
for any legal or financial losses made by anybody.
Financial Weekly

June 2022 45
Market Tips - Het Zaveri
Goodyear (Rs. 946.00) (Code : 500168) : Goodyear has reported weak quarterly
numbers and better yearly numbers. For Q4 the company reported a revenue of Rs 603 crore, a
growth of 5 percent YoY, net profit of Rs 17 crore, a decrease of 60 percent compared to Rs 43
crore for the same period last year. In FY2022, the company’s revenue came at Rs 2,459 crore, an
increase of 36 percent YoY, while net profit was Rs 103 crore (-24%) compared to Rs 136 crore for
the same period last year. The gross margin was negatively impacted by higher cost of goods sold
(+10%) due to increased raw material prices across all categories. Other expenses were impacted
by a steep rise in fuel prices. The company has recommended a Final Dividend of Rs. 20/- per
equity share of Rs. 10 each and Special Dividend of Rs. 80/- per equity share of Rs. 10 each, for
the Financial Year ended March 31, 2022 for which record date is 25th July. Buy.
Shriram Transport Finance (Rs. 1142.00) (Code : 511218) : Shriram Trans-
port Finance (STFC) has posted a 44 per cent increase in net profit in Q4 to Rs. 1,086.13 crore,
compared to Rs. 754.93 crore in Q4 last year. Net Interest Income increased by 22.16 per cent to
Rs. 2,627.82 crore as against Rs. 2,151.12 crore. EPS increased by 31 per cent at Rs. 40.15 as
against Rs. 30.65. On March 31, STFC’s total assets under management was Rs 127,040.86 crore
as compared to Rs. 117,242.83 crore as on March 31 last year. For the financial year 2021-22, net
profit increased by 8.87 per cent to Rs. 2,707.93 crore as compared to Rs. 2,487.26 crore recorded
in the previous year. The Net Interest Income for the year also increased by 14.07 per cent to Rs.
9,316.06 crore as against Rs. 8,167.10 crore recorded in the previous year. The stock is worth
accumulation for longer term perspective.
Concor (Rs. 657.00) (Code : 531344) :- Concor has reported a sharply higher
consolidated net profit of Rs 257.56 crore in Q4 FY22 as compared to Rs 25.64 crore posted in Q4
FY21. Consolidated net sales rose 5.2% to Rs 2,057.56 crore in Q4 FY22 from Rs 1,956.69 crore
reported in Q4 FY21. On full year basis, the company recorded 108.9% surge in consolidated net
profit to Rs 1,055.12 crore on a 19.1% rise in net sales to Rs 7,652.73 crore in FY22 over
FY21.Meanwhile, the board of directors of the company declared a final dividend of Rs 3 per equity
share, for the financial year ended 31 March 2022. Container Corporation of India (CONCOR) is
engaged in transportation of containers (rail and road), and handling of containers. The firm is also
engaged in the operation of logistics facilities, including dry ports, container freight stations and
private freight terminals. Buy.
AIA Engineering (Rs. 2070.00) (Code : 532683) :- AIA Engineering has reported
45 per cent year on year (YoY) growth in its consolidated net profit at Rs 194.6 crore in March
quarter, on back of healthy operational revenue. The board has recommended a dividend of Rs 9
per equity shares of Rs 2 each. total income from operations grew 27 per cent YoY at Rs 1,093
crore. Besides that, earnings before interest, taxes, depreciation, and amortization (EBITDA) mar-
gin improved 182 basis points (bps) YoY and 21 bps sequentially, at 24.2 per cent. The company
Financial Weekly

June 2022 46
engaged in castings and forgings business has order book position of Rs 502 crore as on April 1,
2022. The company has the present installed capacity 390,000 tonnes per annum (TPA). The
company has nearly completed setting up a manufacturing plant of mill liners with a capacity of
50,000 metric ton and it is expected to be commissioned in June 2022. Post this expansion, the
total installed capacity will be 440,000 TPA. Buy.
Nestle India (Rs. 17633.00) (Code : 500790) :- Nestle India’s net profit declined
by 1.2 per cent year-on-year (YoY) to Rs 594.7 crore in March quarter (Q1CY21). The company
had posted net profit of Rs Rs 602.25 crore in the year-ago quarter. However, it registered a near
10 per cent growth YoY in total income to Rs 4,002.14 crore from Rs 3,640.47 crore. While the
domestic sales were largely driven by volume growth and sales mix, exports took a hit as it de-
clined by 1 per cent YoY due to change in product mix. The total sales (Rs 3,950.9 crore) and
domestic sales (Rs 3,794.2 crore) increased by 9.7 per cent and 10.2 per cent respectively in a
year. Out-of-home business posted better-than-expected results. KitKat and Nestlé Munch, both
registered double-digit growth. Nescafé Classic and Sunrise delivered double-digit growth, sup-
ported by generating demand inputs to leverage the consumption season. The stock is worth accu-
mulation.
Page Industries (Rs. 44485.00) (Code : 532827) :- Page Industries stock surged
7 per cent to close at Rs 44,485 on Friday after the company reported strong performance in March
quarter (Q4FY22). Ccompany’s reported net profit jumped 64.9 per cent YoY to Rs 190.5 crore, on
back of 37.2 per cent YoY increase in revenue at Rs 3,887 crore. EBITDA margin improved by 470
basis points (bps) year on year (YoY) and 290 bps quarter on quarter (QoQ) at 24 per cent, on
better operating efficiencies. The sales momentum has picked up significantly across all the prod-
uct categories backed by expansion in its portfolio and existing network. Page Industries is the
exclusive licensee of JOCKEY International Inc. (USA) to manufacture, distribute and market the
JOCKEY® brand in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan and
UAE. Page Industries is also the exclusive licensee of Speedo International to manufacture, mar-
ket and distribute Speedo brand in India. Buy on decline.
Disclosures : At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm, his clients or any of
his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested interest obviously in their going up
or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based on & conceived
from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses
made by anybody.
Financial Weekly

June 2022 47
SMART TIPS Smita N. Zaveri
West Coast Paper (Rs. 335.00) (Code: 500444) :- Shares of this A group listed
paper and paper products company touched a 52-week high of Rs. 395 and low of Rs. 210. Pro-
moter holding in the company is 56.48%. It has a market cap of Rs. 2238 crore. Equity is Rs. 13
crore and reserves Rs. 1372 crore. For the March quarter, consolidated income went up from Rs.
937 crore to Rs. 1067 crore, and profit from Rs. 87 crore to Rs. 140 crore. The Bangur group com-
pany makes paper, pulp, and raw materials. It also makes a range of writing and printing papers,
wrapping paper, etc. The company has come up with excellent financial performance. Looking at
its high reserves, the company is seen as a strong bonus candidate. The stock can be seen at a
new high in the short to medium term.
Coal India (Rs. 183.00) (Code: 533278) :- The stock has delivered negative returns
since listing a decade back. Coal India has a Maharatna status and is the world’s single largest
coal producer. Its equity is Rs. 6162.73 crore and reserves Rs. 36,980 crore. The company is
almost debt-free. Promoter central government holds 66.13% stake in this company. For the March
quarter, consolidated profit jumped 46% to Rs. 6693 crore and income 22% to Rs. 32,707 crore.
The board has recommended a final dividend of Rs. 3 per share for the year. The A group listed
shares touched a 52-week high of Rs. 209 and low of Rs. 132. The company’s market cap is Rs.
1.12 lakh crore. The stock is trading at low levels despite a strong performance and makes for a
strong buying opportunity. The stock is fundamentally strong but undervalued.
Pricol (Rs. 134.00) (Code: 540293) :- Shares of this A group listed auto parts com-
pany touched a 52-week high of Rs. 149 and low of Rs. 74. The company’s market cap is Rs. 1293
crore. Promoter stake in the company is 36.53%. Pricol makes automotive parts and equipment for
commercial vehicles, passenger vehicles, off-road vehicles, etc. Its products are broadly divided
into four categories, viz. driver information system and sensors, asset management solutions,
telematics control and security solutions, and five mechanical products. It has seven subsidiaries
and operates in 45 countries. It has 43 international clients including Harley Davidson, Honda,
Suzuki, etc, and 58 national clients including Tata Motors, Maruti Suzuki, and Mahindra. Its equity
is Rs. 12 crore and reserves Rs. 569 crore. For the March quarter, consolidated income fell from
Rs. 447 crore to Rs. 415 crore, while profit rose from Rs. 1 crore to Rs. 17 crore. The stock can
deliver 10-15% returns in the short term.
Redington (Rs. 166.00) (Code: 532805) :- Redington India is primarily engaged in
the distribution of electronic items and has been in the business for many years. It works with more
than 245 brands. It has over 70+ sales offices globally. It has more than 200 warehouses, with over
7 million sq ft space. It has a tie-up with Apple, Acer, Motorola, Jabra, Nokia, HP, Canon, Dell, and
other noted brands. The A group listed shares have a face value of Rs. 2. The shares touched a 52-
week high of Rs. 179 and low of Rs. 82. It has a market cap of Rs. 10,381 crore. Promoter holding
in the company is zero. Its equity is Rs. 156 crore and reserves Rs. 5628 crore. For the March
quarter, consolidated income rose 11% to Rs. 17,302 crore, while profit rose 15% to Rs. 348 crore.
For the whole fiscal, profit after tax jumped 69%. The surge was due to strong demand for its
solutions and services. The stock can be seen near the 52-week in 2-3 quarters.
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 27th May, 2022 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

June 2022 48
Smart super duper - Het Zaveri
Deepak Fertilizer (Rs. 638.00) (Code: 500645) :- Deepak Fertilizer is a leading

fertilizer and petrochemicals company. The B group listed shares touched a high of Rs. 730 and
low of Rs. 284 in the last 52 weeks. It has presence in agri business, farm solutions, mining chemi-
cals, industrial chemicals, and value added real estate segments. Its equity is Rs. 121 crore, and
reserves of Rs. 3764 crore. Promoter holding is 47.58%. The company announced very good num-
bers for the March quarter with income going up from Rs. 1575 crore to Rs. 2012 crore, and profit
from Rs. 113 crore to Rs. 280 crore. For the whole year, income went up from Rs. 5808 crore to Rs.
7663 crore, and profit from Rs. 400 crore to Rs. 678 crore. The company has a market cap of Rs.
7701 crore. The company has a consistent track record of paying attractive dividends.
Thirumalai Chemicals (Rs. 238.00) (Code: 500412) :- Shares of this industrial

and speciality chemicals company are listed in the B Group. The shares touched a high of Rs. 357
and low of Rs. 126 in the last 52 weeks. The company’s equity is Rs. 10.24 crore and reserves Rs.
1075 crore. For the March quarter, its income increased from Rs. 387 crore to Rs. 583 crore, and
profit from Rs. 85 crore to Rs. 90 crore. EPS was Rs. 8.80. For the full fiscal, income nearly doubled
from Rs. 1086 crore to Rs. 1998 crore, and profit from Rs. 118 crore to Rs. 281 crore. It has an-
nounced 250% dividend for the year. The stock has given multifold returns. The company is one of
the only two manufacturers of its products. It has reported strong demand for its products. The stock
has corrected sharply from its 52-week high, and be a good buy.
Sharda Crop (Rs. 739.00) (Code: 538666) :- Established in 2004, Sharda Crop
Chem is a crop protection chemical manufacturer. The B group listed shares touched a 52-week
high of Rs. 768 and low of Rs. 288. It has a market cap of Rs. 6675 crore. Promoter holding in the
company is 74.82%. FIIs hold 1.69% and mutual funds 12.85%. Its equity is Rs. 90.22 crore, and
reserves Rs. 1822 crore. For the March quarter, income went up from Rs. 1088 crore to Rs. 1434
crore, and profit from Rs. 134 crore to Rs. 174 crore. The company has been performing well for
some years and the management is confident of a bright future. The stock can deliver excellent
returns going ahead. One can invest in the stock in tranches.
VRL Logistics (Rs. 602.00) (Code: 539118) :- The company began as a commer-
cial logistics player in 1976 before foraying into passenger logistics in 1996. The B group listed
shares touched a 52-week high of Rs. 659 and low of Rs. 240. The company’s market cap is Rs.
5445 crore. Promoter holding in the company is 69.59%. For the fourth quarter, its income rose
from Rs. 600 crore to Rs. 665.13 crore, while profit shot up from Rs. 37 crore to Rs. 57 crore. For the
whole fiscal, income increased from Rs. 1763 crore to Rs. 2394 crore, while profit zoomed from Rs.
45.07 crore to Rs. 160.11 crore. It has a fleet of 4816 vehicles, of which more than half are not very
gold. One can invest in the stock with a long-term view. The company’s management and funda-
mentals are very strong. Mutual funds hold 15.14% stake in the company, and FIIs 3.62%.
Disclosures : At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm,
his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested
interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based
on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible
for any legal or financial losses made by anybody.
Financial Weekly

June 2022 49
Di wan-E-Khas A.J. Diwan (Mumbai)
E-mail : divanconsultancy@rediffmail.com
Market rebound or deception?

It seems that stock markets world over has discounted inflation and crude price. This time DOW
ended 500 points up and Nasdaqe 300 points up. On last Thursday after swing over 900 points,
index closed 500 points up and nifty settled. Over 140 points up. That was F&O last day.
The increase in export duty on steel brought down Tata Steel to 1000 level and JSW steel to
525 levels. Both prices were never thought by investors.
In our markets negative factors are crude price and constant selling by fiis. If RBI increases rate
more than 35 bases next month, market may get jolt.
Rupee falling against dollar is also some concern.
After steel, government would think of reducing cement prices. In development of infrastructure
it is must and over and above that Adani group has entered venture.
We are surprised at steep fall in price of Asian paints. Its good chance to accumulate on fall in
small lots.
In private banks we like axis and ICICI Bank. Buy on every fall. If stop loss is to keep, Rs.700 for
ICICI and rs.650 for axis.
If ITC not able to cross and closed above 275, share may go to south direction.
Larsen is finding difficult to sustain at higher level, 1580 is resistance.
Bharti Airtel is company that can face JIO in competition. Buy on decline for ling term.
Remove Vodafone from your portfolio. Let others earn.
IOC sale on rise. Below 110 may help bears.
HCL Techno is good short on rise.
IG opportunity comes again buy TATA power around 210.
Delta cop after breaking support of 215, touched 204.on rise to 223/4 short with Rs 3 stop loss.
Jindal steel had a great fall. If market is up short.
Power grid buys around 224 with rs.2 stop loss.

Financial Weekly

June 2022 50
Investment Ideas Nayan Patel
ALKALI METALS LTD

(533029 & NSE) (82.45) (Face Value: Rs.10)
Alkali Metals is one of the leading Chemical suppliers in India and USA for industrial and specialty chemi-
cals, raw materials and minerals. Alkali Metals manufactures variety of products ranging from Alkali Metal
Derivatives, Amino Pyridines, Tetrazoles, Cyclic compounds and Fine chemicals. Company also provide
Sodium metal along with other chemicals, APIs and raw material additives for manufacturers in diverse
industries. It has an equity base of Rs.10.18 crore that is supported by reserves of around Rs.41.90 crore.
The promoters hold 69.59%, while the investing public holds 30.41% stake in the company. During Q4FY22
& FY22 it has reported turnaround numbers. For Q4FY22, AML posted PAT of Rs.0.32 crore as against
LOSS of Rs.1.52 crore in Q4FY21 on 80.35% higher income of Rs.29.74 crore. During FY22, it recorded
PAT of Rs.3.48 crore against loss of Rs.1.21 crore on 64.36% higher income of Rs.91.02 crore fetching an
EPS of Rs.3.42. It paid 8% dividend for FY21 & declares 20% dividend for FY22. Investors can watch this
stock with a stop loss of Rs.73.
Rashtriya Chemicals & Fertilizers Ltd

(524230 & NSE) (94.35) (Face Value Rs.10)
Rashtriya Chemicals and Fertilizers Ltd. (RCF) is a leading fertilizers and chemicals manufacturing
company. It has been accorded the coveted 'Miniratna' status in 1997. It has two operating units, one at
Trombay in Mumbai and the other at Thal, Raigad district, about 100 KM from Mumbai. RCF manufactures
Urea, Complex Fertilizers, Bio-fertilizers, Micro-nutrients, 100% water-soluble fertilizers, soil conditioners
and a wide range of industrial chemicals. Besides fertilizer products, RCF also produces a large number of
industrial chemicals that are important for the manufacture of dyes, solvents, leather, pharmaceuticals and
a host of other industrial products. RCF is one of the leading manufacturers of Methanol and the govern-
ment is working on a plan to use methanol as a fuel for inland waterway transportation and in army trucks as
part of a strategy to cut dependence on imported fuel, which will be highly beneficial for companies like
RCF. It also has a robust land bank of around 800 acres in Mumbai, which is valued at around Rs.10000
crore. It has an equity base of Rs.551.69 crore supported by reserves of around Rs.3291 crore. The pro-
moters hold 75% while the investing public holds 25% stake in the company. For Q4FY22, RCF posted
38.26% higher PAT of Rs.212.26 crore as against Rs.153.52 crore in Q4FY21 on 79.06% higher sales of
Rs.4109.88 crore fetching an EPS of Rs.3.85. For FY22, it reported 81.40% higher PAT of Rs.680.81 crore
as against PAT of Rs.375.30 crore in FY21 on 54.71% higher income of Rs.12812.17 crore with an EPS of
Rs.12.34. At the CMP, RCF trades at a P/E multiple of 7.65x. It paid 29.8% dividend for FY21, paid 13.5%
interim dividend for FY22 & declares 23.70% final dividend for FY22. Investors can watch this stock with a
stop loss of Rs.80.
Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his
firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks
so have vested interest obviously in their going up or down as the case may be.
Disclaimer: Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical
analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author
won't be liable or responsible for any legal or financial losses made by anybody.
Financial Weekly

June 2022 51
Corporate
Vikas Lifecare Ltd. Feature
(BSE Code : 542655) (Rs. : 4.73)
Announces QIB Issue amounting up to Rs. 2000 million
BSE & NSE listed Vikas Lifecare Ltd. (BSE:542655, NSE: VIKASLIFE) has
informed the exchanges that the company's fund-raising committee of the Board
at its recent meeting held on May 25, 2022 approved size of present trench of
QIB issue up to Rs. 500 million. The remaining amount of Rs. 1500 million will
be raised by the Company through subsequenttranches. The company ap-
proved the floor price of the issue at Rs. 4.20 per equity share based on pricing
formula as prescribed under SEBI regulations.
Earlier this month, the company had announced that it has entered into a
Memorandum of Understanding to form a strategic alliance with Amity Uni-
versity, Uttar Pradesh, India, to strengthen its R&D Activities, Technology
Transfers, for improving and augmenting its product offerings.
Under this partnership, Vikas Lifecare will work together with Amity Uni-
Corporate
versity in selecting, evaluating and finally the commercial implementation of
the technological innovations, ideas, molecules, formulations, products etc
Feature
with a special focus on EcoFriendly Plastics & Renewable Energy Sources.
Vikas Lifecare shall have pre-emptive rights on the innovations, technologies
and products developed under this partnership.
It is through such partnership that among many significant business val-
ues, Vikas Lifecare find another agile and prestigious partner in its pursuit for
providing better and affordable, advance-technology backed products.
Vikas Lifecare Ltd. (VLL) is an ISO 9001:2015 certified company, histori-
cally engaged in the business of trading and manufacturing of Polymer and
Rubber compounds and Specialty Additives for Plastics, Synthetic &Natural
Rubbers. The company has been conventionally engaged in various busi-
ness segments including Polymer & Rubber Commodity (bulk consumption)
Compounds and Master-Batches. Manufacturing Up-Cycled Compounds from
industrial and post-consumer waste and scrap materials like EVA, PVC, PP,
PE etc., directly contributing to the Environment Protection initiatives from the
Government of India and fulfilling the mandated EPR obligations for the con-
glomerates using hundreds of thousands of tonnes of plastic products and
packaging materials.
VLL is also a Del-Credere agent of ONGC- The Oil and Natural Gas Cor-
poration Ltd." Petro Additions Limited, a public sector undertaking producing
a wide variety of base polymers and commodity plastic raw materials.
VLL has a division engaged in Agro Products Business, The Company is
empanelled with NAFED - The "National Agricultural Co Operative Federation of
India" and HOFED - The "Uttar Pradesh Horticultural Co Operative Marketing Federation". As a long-term busi-
ness strategy, the company has most recently diversified it's business interests beyond raw materials (B2B
businesses) and forayed into the B2C segment with a host of consumer products for FMCG, Agro, and Infra-
structure Segments; paving way for an aggressive business growth with adding intricately planned and se-
lected product portfolios via acquisitions, joint ventures and tie-ups. VLL intends establishing / acquiring busi-
nesses in diverse segments thereby expanding its business stakes and a footprint across the country and
beyond.
The company recently acquired 75% stake in Genesis Gas Solutions Pvt. Ltd. engaged in the business of
Smart Gas Meters being supplied to all the major Gas Distribution Companies for domestic and commercial
consumers. Genesis pioneers in Smart Gas and Water Metering and commands about 20% of the Domestic
Gas Metering business share in India.
***
Financial Weekly

June 2022 52
Primary Market - Dilip K. Shah
The volatile impact in the secondary market

has now begun to be felt in the primary market as well
Nakoda Group’s Rights Issue withdrawn: Rachna Infra's NSE SME IPO extended
Investors have turned cautious after listing of LIC and Prudent
In the absence of mainboard IPOs this week, a total of 7 issues
including 2 SMEs, 2 Rights, 3 NCDs issues in the market
In Rachna Infra’s issue with fixed price of Rs. 135 the price reduced and
issue extended due to poor response
Nakoda Group’s Rights issue withdrawn after poor response
Will LIC compensate by giving special dividend or
issuing bonus shares like Rel.Power in the board meeting on May 30?
All eyes will be on listing of Ethos on May 30, e-Mundhra on June 1 and Aether on June 3
At present 3 issues of NCDS
Navi Finserv, Muthoot Fin., Indel Money - are present in the debt market
The impact of volatility prevailing in the secondary market is gradually being felt in the primary
market as well. Investors have been wary of the post-listing turmoil, with IPOs such as Ethos and
Aether Industries receiving a poor response, especially from retail investors. As a result, the arrival
of new IPOs has taken a break for the time being. The absence of mainboard IPOs is been sugges-
tive.
The issue of Rachna Infra, which opened on May 20, has forced the company to reduce its offer
price due to poor response from investors. The rights issue of Nakoda Group companies fixed
price of Rs 20 has been withdrawn due to poor response.
Over the past week, three mainboard IPOs - Venus Pipes, Delhivery, Paradeep Phosphates -
have been listed. Along with this, the IPOs
Subscription Figures of SME IPO (Dt. 27-5-2022)
IPO Listing Day Subscribed
of eMudhara and Aether Industries, which
Rachna InfrastructureNSE SME 6th Day Subscribed 0.20x entered the market in the last few weeks,
Globesecure Tech. NSE SME Issue Closed on 25-5-2022 14.17x have crossed the flooding market on the last
Fidel Softech NSE SME Issue Opens on 30-5-2022 --
day.
* Last week's mainboard IPO listing : -
Grey Markets Premium Last week, a total of three mainboard IPOs -
IPOs Name Offer Premium
Venus Pipes, Delhivery, Paradeep Phos-
Price (Rs.) (Rs.)
Ethos 836 to 878 -20 (Discount) phates have been listed. E
eMudhra 243 to 256 -- • Prudent Corporate (543527) : - The
Aether Industries 610 to 642 15 to 17 issue got listed on May 20, at Rs.660 as
Globesecure (NSE SME) 29.00 3 to 4 against offer price of Rs. 630 and It closed
(Sub. : 12000) at Rs. 562.70 and the stock went down fur-
Don't subscribe IPO only on the basis of Grey premium. Before
Investing check the fundamentals of IPO ther to Rs. 510 on May 27. It is advisable to
Cont...
Financial Weekly

June 2022 53
NSE SME IPO
Sr Company Open Dt. Issue size Offer price Minimum Lead Rating Remark
Close Dt. (Rs. Cr.) (Rs.) Applications Size Manager (Out of 50%) %
1. Rachna 20-5-2022 56,50,000 Eq. 135 1000 Eq. Shares Interactive 28% :
Infra 2-6-2022 (Rs. 76.28 Cr.) (Rs. 1,35,000) Financial Clear Avoid
2. Fidel 30-5-2022 36,50,000 Eq. 37 3000 Eq. Shares SHRENI 33% Apply for
Softech 2-6-2022 (Rs. 13.51 Cr.) (Rs. 1,11,000) Shares Long Term
Rachana Infrastructure issue extended upto 02 June, 2022. Price has been revised from 138 to Rs. 135 per share
Listing Information of SME IPOs & Main Line IPOs

Co. Name BSE Listing Offer Listing Listing Listing Listing CMP
Code Date Price Price Day Day Day 27-5-22
(Rs.) (Rs.) High Low Close
Prudent Corporate 543527 23-5-2022 630.00 660.00 660.00 541.15 562.70 510.00
Venus Pipes & Tubes 543528 24-5-2022 326.00 335.00 351.75 335.00 351.75 334.40
Delhivery Limited 543529 24-5-2022 487.00 493.00 568.90 474.00 537.25 541.00
Paradeep Phosphates 543530 27-5-2022 42.00 43.55 47.25 42.95 43.95 43.95
sell this stock and exit even with a loss.

• LIC : - The issue got listed on May 17 with 8.62% discount at further went down by 13.43% to
close at Rs. 826.25. On May 27, the stock closed at Rs. 821.60. Thus, on the day of listing of LIC's
IPO, investors lost Rs. 200 crore.
According to the reports received, the board meeting of LIC is scheduled on May 30 and it may
compensate investors through special dividends for the huge losses incurred. In the case of Reli-
ance Power, Anil Ambani tried to offset the loss by issuing bonus shares to investors to offset the
huge loss at time of listing. Will LIC adopt such an option?
• Venus Pipes & Tubes (543528) : - The issue with offer price of Rs. 326 got listed on May 24
at 2.76% premiums at price of Rs. 335 and went up to Rs. 351.75 and down to Rs. 335 before
closing at Rs. 351.75. On
Subscription figure of Subscription figure of Friday, it closed at Rs.
eMudhra Limited Indel Money 334.40. Book profit at every
No. Shares Issue Subscribed Category No.of Bond Issue
spurt in price.
Offered/ 20-5-22 23-5-22 24-5-22 (Issue Closed on Offered/ Subscribed
Reserved 27-5-2022
• Delhivery (543529) : -
Reserved
QIB 31,34,329 0.00x 0.25x 4.05x Cat.1 (Inst.) 50,000 0.00x The issue got listed on May
NII 24,69,137 0.04x 0.16x 1.28x Cat.2 (Non Inst.) 2,00,000 0.17x 24 with 1.23% premium at
Retail 57,61,318 0.94x 1.69x 2.61x Category 3 2,50,000 0.16x Rs. 493 and went up to Rs.
Total 1,13,64,784 0.48x 0.96x 2.72x Total 5,00,000 0.15x
Subscription figure of Subscription figure of Subscription figure of

Navi Finserv Limited Muthoot Finance
Aether Industries
Category No.of Bond Issue No. Shares Issue Subscribed Category No.of Bond Issue
Offered/ Subscribed Offered/ 24-5-22 25-5-22 26-5-22 (Issue Closed on Offered/ Subscribed
Reserved 27-5-2022 Reserved Reserved 27-5-2022
Cat.1 (Inst.) 6,00,000 3.25x QIB 27,48,241 0.36x 0.39x 17.57x Cat.1 (Inst.) 37,500 0.00x
Cat.2 (Non Inst.) 6,00,000 0.91x NII 19,47,222 0.05x 0.16x 2.52x Cat.2 (Non Inst.) 37,500 0.54x
Category 3 (HNI) 9,00,000 0.71x Retail 45,43,517 0.42x 0.67x 1.14x Category 3 (HNI) 3,00,000 0.56x
Category 4 (R) 9,00,000 0.52x Emp. 1,17,213 0.54x 0.93x 1.06x Category 4 (R) 3,75,000 2.28x
Total 30,00,000 1.20x Total 93,56,193 0.33x 0.49x 6.26x Total 7,50,000 1.39x
Cont...
Financial Weekly

June 2022 54
Non Convertible Debenture (NCD) Issues at a Glance
Sr Company Issue Open Bond size F.Value Min. Listing Rating Recomm.
Issue Close (Rs. Cr.) (Rs.) App.
23-5-2022 Base Size Rs.300 Cr. 1,000/- 10 NCDs BSE
1. Navi 10-6-2022 with an option to Retain (Rs.10,000) NSE IND A/ Stable
APPLY
Finserv Oversubscription up to Lead manager : by India Ratings
Rs. 300 Cr. A.K. Capital,
(Aggregating up to Rs. JM Financial
600 Cr.)
25-5-2022 Base Size Rs.75 Cr. 1,000/- 10 NCDs BSE
2. Muthoot 17-6-2022 with an option to Retain (Rs.10,000) NSE ICRA AA+/Stable
Finance Oversubscription up to Lead manager : by ICRA APPLY
Rs. 225 Cr. A.K. Capital,
(Aggregating up to Rs.
300 Cr.)
3. Indel 27-5-2022 Base Size Rs.50 Cr. 1,000/- 10 NCDs BSE Acuite BBB+/Stable
Money 22-6-2022 with an option to Retain (Rs.10,000) by Acuite RISKY
Oversubscription up to Lead manager :
Rs. 50 Cr. Vivro Financial
(Aggregating up to Rs.
100 Cr.)
Rights Issue
Sr Company Issue Open Dt. Issue size Offer price Ratio & Listing Lead Manager /
Issue Close Dt. (Rs. Cr.) (Rs.) Record Dt. Registrar
1. Integra 16-5-2022 27.67 Cr. Shares 1.80 33 Shares for every BSE
Essentia 10-6-2022 (Rs. 49.80 Cr.) (F.V. Rs. 1) 13 fully paid shares NSE Skyline Financial (R)
held on 5-5-2022
2. Dynemic 25-5-2022 0.06 Cr. Shares 450 1 Shares for every BSE Vivro Finacial
Products 8-6-2022 (Rs. 25.49 Cr.) (F. V. Rs. 1) 20 fully paid shares NSE Bigshare Services (R)
held on 13-5-2022
568.90 and down to Rs. 474 before

closing at Rs. 537.25. on Friday, it
Tentative Timetable for SME IPOs
IPOs Name Ethos eMudhra Rachna Globe Aether Fidel
touched Rs. 541. If you want to hold Ltd. IPO Infra secure Ind. Softech
this stock for long term, you have to IPO NSE SME NSE SME IPO NSE SME
Issue Closes date 20-5-22 24-5-22 2-6-22 25-5-22 26-5-22 2-6-22
sell 50% of the shares at the price Basis of Allotment 25-5-22 27-5-22 -- 30-5-22 31-5-22 7-6-22
and book 50% profit. Refunds 26-5-22 30-5-22 -- 31-5-22 1-6-22 8-6-22
Credit of Shares 27-5-22 31-5-22 -- 31-5-22 2-6-22 9-6-22
• Paradeep Phosphates Listing 30-5-22 1-6-22 --- 2-6-22 3-6-22 10-6-22
(543530) : - The issue with offer price of Rs. 42 got listed on May 27 at Rs. 43.55 and went up to Rs.
47.25 and down to Rs. 42.95 before closing at Rs. 43.95. Holders of these shares can reap the
double benefit of hike in price with attractive dividends.
• E - Mudhra : - This IPO of price band of 243 to 256 closed on May 24.
Subscription : This IPO has got 4.05 times subscription in QIB, 1.28 times in HNI, 0.61 times in
retail and a total of 2.72 times response.
Allotment : - Allotment may be on May 27 and refund will arrive on May 30. As it has got 2.61
times subscription in retail, out of 9 applicants about 4 applicants may get shares.
Listing : - The listing of this IPO is dated on June 1. Given the current circumstances, the listing
of the stock could be around 25.0 to 275. The share price crosses Rs. 300 level, it is advisable to
sell 50% shares and book profit.
• Ethos Ltd :- The issue was managed at last minute so it could get 1.04 times subscription.
Allotment was on May 27 and shar credit on May 27. IPO has poor response of 0.84 times in retail
Cont...
Financial Weekly

June 2022 55
Prudent Corp. IPO premium going down after listing at premiums and now at 10% discount? To hold or sell?
Venus Pipes IPO opened with premiums but now moving downward? What’s next?
After very modest premium on listing Delhivery's IPO has jumped 11%
Paradeep IPO got listed with 4% premiums: Investors holding on the shares will be benefitted
Including TCM, NCL, Dynemic Pro, which opened last week, four Rights Issues are in the market
FedBank Fin. , Dreamfolks, Archana Chem's IPO approved by SEBI
so full and firm allotment is confirmed.
Listing will be on May 30 around Rs. 840-865. It is better to exit the shares at any hike in price.
• Aether Industries : - This IPO with a price band of 610 and 642 has got 2.5 times subscription.
Subscription :- It has got 17.57 times subscription in QIB, 2.52 times in HNI, 1.14 in Retail and
1.06 times Employee quotas taking overall subscription to 6.26 times.
Allotment - Refund : - Allotment could be on May 31, Refund on June 1 and shares will be
credited on June 2 .
Listing : - Listing may be on June 3 around Rs. 650-675. If the shares are allotted, the good
returns expected in the next two to three quarters.
* SME IPO : - Globesecure Technologies and Rachna Infrastructure entered the IPO market in
the last few weeks. Fidel Softech's IPO is entering the market this week.
• Globesecure Technologies : -: NSE SME IPO with fixed price of Rs29 closed on May 25 with
14.17 times subscription. The listing of this IPO may be on June 6 with a good premium.
• Rachna Infrastructure : - The issue with fixed price of Rs. 138 was supposed to close on May
25, but the subscription was only 0.20 times on the last day. Therefore, after receiving a very poor
response from investors the company extended the IPO date till June 2, the offer price has been
reduced to Rs. 135. This issue can get into trouble if not managed by the lead manager.
• Fidel Softech : - The issue with fixed price of Rs. 37 will close on June 3. The details of this
IPO are given in a separate table and investors can consider long term investments. Listing of
shares will be on June 10.
* Rights Issue : - During the last few weeks, four rights issues TCM Ltd. , N.C.L. Research and
Financial Services, Integra Essentia, Dynemic Products have opened and detailed information on
these four rights issues has been published in the past editions.
* NCDS Issue : - Navi Finserv's NCDs issue entered the market during the last week, the
analysis of which has been published last week, while this week Analysis of Muthoot Fin. , Indel
Money's NCDs issue is published in a separate table.
• Navi Finserv : - The issue with base price of Rs 300 crore has got 1.20 times subscription so
far. It will close on June 10The total issue size is Rs. 600 crore.
• Muthoot Finserv :- It has entered the market for the 25th time with NCDs issue. The issue with
base price of Rs. 75 crore opened on May 25 and till May 27 it has got 1.39 times subscription. The
total issue size is Rs. 300 crore. This issue may close earlier than scheduled.
• Indel Money : - The issue with base price of Rs. 50 crore has received 0.15 times subscription
on the first day. The size of the issue is Rs.100 crore.
* Insight of the future issues:- IPOs of three companies including Fedbank Financial,
Cont...
Financial Weekly

June 2022 56
GREY MARKET MOVEMENT
Uncertainty in the stock market, lukewarm response to IPO and
dull listing have turned the Gray market cold.
Ethos in discounts while eMudhra lack deals
Aether Ind. premium goes down:
Massive deals in NSE SME Globsecure
The recession that has been raging in Indian stock markets for the past six weeks has
come to a halt, but the secondary market has remained volatile and the general response
to public issues that have recently entered the market has created hurdles for the arrival
of the mainboard IPOs. On the other hand, the new IPOs that are being listed are either
going at a discount or are giving a very modest return after listing.
These circumstances are also having a negative impact on the operations of the grey market
and there are negligible deals at premium prices while the trading of interest rates and subject
two prices has come to a complete standstill. eMadhura issue has not witnessed any deals.
* Ethos Limited : - The premiums are volatile and there are sellers at rs. 20 but no buyers.
* Aether Industries : - The premiums touched Rs. 20/22 but now believed to have come
down to Rs. 15/17.
* Globesecure Technologies : - The NSE SME IPO closed on May 25 with 14 times sub-
scription. The premiums are currently Rs. 2/3 and subject to rates are believed to be Rs. 12000.
Dreamfolks, Archeon Chem have been approved by SEBI: - A total of three companies including
FedBank Financial Services, a subsidiary of Federal Bank have received approval from SEBI to
come up with IPO. In which FedBank to raise Rs. 900 crore through Fresh issue and will offr 1.65
crore equity shares in OFS. Dreamfolks’s will offer 21,81,420 shares under OFS. Archean Chem.
will issue fresh equity worth Rs.1000 crore and offer for sale will be of 1.9 crore shares.
• Rustomji Group will bring Rs. 1000 crore IPO : - This group will bring Rs.1000 crore IPO.
DRHP will be filed soon with SEBI. It has raised Rs. 170 crore through Pre-IPO placement.
• Go First's IPO may be in July : - Currently the second largest aviation company after IndiGo
and formerly known as Go Air, Go First is planning to launch an IPO of Rs. 36 billion ($464 million)
in July.
• OYO will lower valuation and come up with IPO after September quarter : - Hospitality as
well as travel firm OYO is planning to bring IPO. Earlier, in October last year, it had filed DRHP
with SEBI to bring in 11 billion US dollars IPO. The company, which, now plans to reduce it to 7-8
billion dollar and come up with IPO after September quarter.
***
Financial Weekly

June 2022 57
Fidel Softech NSE SME IPO
Openes on 30th May & Closes on 2nd June
Offer Price Rs. 37; Listing on NSE SME Platform
It has posted steady track record during last three fiscal
Company's valuations parameter are slightly high
Investors may consider for long term investment prospective
Fidel Softech Limited is a LangTech Consulting company that provides technological services with local language user
interfaces and user experiences. Fidel Softech Limited was incorporated in 2003 and is located in Pune, Maharashtra. Fidel
Softech offers a wide range of services including Software development, Infrastructure & Cloud support, Localization
including translation, interpretation, software localization & multilingual data creation and Consulting & Staffing services
including training, Software development & Cloud infrastructure support services, localisation services; such as Transla-
tion, Interpretation, Content creation, Multilingual data creation, transcription & Annotation for training AI engines, Video
subtitling and other video audio services, Data engineering, testing, scripting and tooling services. Fidel Softech Limited's
customer base is spread across the globe with a presence in countries like Argentina, Belgium, China, Cyprus, Czech
Republic, Dubai, Egypt, Germany, Hong Kong, Ireland, Italy, Japan, Kingdom of Saudi Arabia, Malaysia, Mauritius, Neth-
erlands, New Zealand, Poland, Portugal, Russia, Singapore, South Af- Financial Performance : Consolidated Basis
rica, South Korea, Spain, Sweden, Taiwan, Ukraine, United Arab Emir- Particulars (Rs. Cr.) FY20 FY21 FY22
ates, United Kingdom, and the United States of America. Total Revenue 22.80 26.21 26.87
Issue Details Profit After Tax 3.15 3.45 4.57
• Issue Openes on 30th May & Closes on 2nd June 2022 EPS 3.12 3.42 4.52
• Object of the issue :1. Funding working capital requirements and Gen- RONW (%) 45.84 33.44 30.68
eral corporate purposes.
• Issue Size : 36,50,000 Equity Share (Rs. 13.51 Cr.)
• Face Value Rs. 10 • Offer price Rs. 37.00 • Minumum Lot Size : 3000 Share • Listing on : NSE SME Platform
• BRLM : Shreni Shares Private Limited • Registrar : Bigshare Services Pvt Ltd
• Company Management : Sunil Sudhakar Kulkarni and Prachi Sunil Kulkarni are the company promoters.
• Pre Issue Promoter Holding : 98.98% • Post Issue Promoter holding : 72.72%
• Issue constitutes 26.53% of the post issue paid up capital
• Average of last 3 Yrs. EPS Rs. 3.92 & RONW : 34.12%
• Pre IPO Eq. Capital Rs. : 10.10 Cr. • Post IPO Eq. Capital Rs. 13.75 Cr.
• Pre IPO : P/BV Ratio 2.51 (NAV : 14.73)
• Post Issue : P/BV Ratio : 1.79 (NAV : 20.64)
• Pre IPO P/E Ratio : 8.19 • Post IPO asking P/E on fully diluted equity : 9.45
• BRLM’s Performance : This is 10th Issue from BRLM in last 3 years. In last 9 Listing : 8 Issued opened with premium
& 1 Issue with at par.
OTHER SIDE OF THE COIN
• The average cost of acquisition of equity share by the promoters is only Rs. 0.25 and offer price is Rs. 37 per share.
• Apart from initial equity capital at par it has issued further equity at Rs. 390.01 per share in Sept. 2007
• It has also issued bonus shares in the ratio of 39:L1 in March 22 before filing DRHP
• Product development is along expensive and uncertainty process
• Top-10 customers contribute 74.77% of revenue.
• It has negative cash flow in the past years.
• Any increase in interest rate would have adverse effect on company's result
• It requires significant announcement of working capital for continued growth.
• It operates in a competitive environment.
• Company does not own registered office.
Recommendation : On financial performance front it has posted steady growth in top
lines and bottom lines for the reported financial data. Thought its valuations parameters are
slightly high, however considering more than 84% export income investors may apply for
long term prospective.
Financial Weekly

June 2022 58
Muthoot Finance Limited NCD Issue
Opens on 25th May & Closes on 17th June
Offer price Rs. 1000 per NCD; Listing on BSE
Rating ICRA AA+/Stable coupon rate 7.25 to 8%,
It has reported consistent
financial track record from FY20 to 9MFY22
Increase in NPA & Debt equity ratio is raises concern
Considering AA+/Stable & Moderate coupon rates, one can apply
Incorporated in 1997, Muthoot Finance Limited is Kerala based gold loan NBFC company with
a legacy of 800 years of the family business. The company offers Gold Loan, Housing Finance
(Home Loans), Personal Loan, Insurance, Gold Coins, Money Transfer Services, Foreign Exchange,
Mutual Funds, Micro Finance and Vehicle loan. Muthoot Finance has 70 Crore+ customers includ-
ing repeat customers. Muthoot Finance has a network of 5,330+ branches with 40,000+ employ-
ees. Financial Performance : Consolidated Basis
Particulars (Rs. Cr.) FY20 FY21 9MFY22
Issue Details Total Revenue 9707.27 11566.42 9196.32
Profit After Tax 3168.68 3818.87 3025.10
• Issue Opens on 25th May & Closes on 17th June
• Object of the issue : Lending purposes and General purposes.
• Issue Size : Base Issue : Rs. 75.00 Cr., Shelf Size : Rs. 225.00 Cr. Total Issue Size : Rs. 300 Cr.
• Issue Price : Rs. 1000 NCDs • Minimum Lot Size : 10 NCDs
• BRLM : A.K. Capital Services Limited
• Registrar : Link Intime India Pvt. Ltd.
• Tenor : 36 Months, 60 Months and 84 Months
• Coupon Rate : 7.25% to 8.00%
• Category : Institution : 5%, Non Inst. : 5%, HNIs : 40% and Retail 50%
Recommendation : This is the 25th debt offer from the company since
Aug. 2017. On financial performance it has posted consistent growth
from FY20 to 9MFY22. NPA grew from 0.8% for FY21 to 3.4% for 9MFY22
and debt - equity ratio of 2.93 post issue raises concern. Considering
AA+/stable rating and 7.25 to 8% coupon rates, investors may apply for
this NCDs issue.
Financial Weekly

June 2022 59
Indel Money Limited NCD Issue
Opens on 27th May & Closes on 22nd June
Offer price Rs. 1000 per NCD; Listing on BSE
Rating BBB+/Stable, coupon rates 9% to 11%
It has posted good track record in the reported financial periods
Increase in NPA and debt-equity ratio raises concern
Coupon rate are attractive but
Considering BBB+ rating, risk taker may apply
Indel Money Limited is a non-deposit taking non-banking finance company (NBFC) registered with RBI.
The company deals in the gold loan sector, lending money against the pledge of household gold jewelry.
The company also provides loans against property, business loans, and personal loans. The company's
gold loan customers are primarily from rural and semi-urban areas. As of August 31, 2021, the company
had a network of 191 branches spread in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh,
and Telangana, and the union territory of Puducherry. The

Financial Performance : Consolidated Basis
Particulars (Rs. Cr.) FY19 FY20 FY21 9MFY22
company's web-based centralized IT platform records details of Total Revenue 42.88 63.07 94.49 90.42
Profit After Tax 1.57 2.19 9.49 5.11
all branches and handles management of the loan and related information. The company has also launched
its web applications on the Google play store & the iOS App Store. The company has developed its web-
based payment portal named E-Connect which helps makes business operations more efficient.
Issue Details
• Issue Opens on 27th May & Closes on 22nd June
• Object of the issue : For the purpose of onward lending, financing, and for repayment/prepay-
ment of principal and interest on borrowings of the Company and For general corporate pur-
poses.
• Issue Size : Base Issue : Rs. 50.00 Cr., Shelf Size : Rs. 50.00 Cr. Total Issue Size : Rs. 100 Cr.
• Issue Price : Rs. 1000 NCDs • Minimum Lot Size : 10 NCDs
• BRLM : Vivro Financial Services Private Limited
• Registrar : Link Intime India Pvt. Ltd.
• Tenor : 366 days, 18, 24, 61 and 77 Months
• Coupon Rate : 9% to 11%
Recommendation : It has posted good growth in the reported financial
periods. Increase in NPA & Debt- equity ratio raises concern. It has of-
fered attractive coupon rates but considering BBB + ratings, risk taker
investors may apply for short term tenor.
Financial Weekly

June 2022 60
Smart Best Buy S. N. Zaveri
Colgate : Better Q4 numbers in challenging times

Blue Dart : High quality service, high quality results
Bayer Cropscience profit jumps, sales jumps
Bata India : Better Q4 nunmbers and dividend will play
Tata Elxsi : The stock made smart recovery after correction
Colgate (Rs. 1592.00) (Code : 500830) : Colgate Palmolive reported a nearly 3 per
cent rise in net profit at Rs 323.57 crore for the fourth quarter ended March 2022. It had a posted a
net profit of Rs 314.66 crore in the January-March quarter a year ago. The company's revenue from
operations rose 1.43 per cent to Rs 1,293.35 crore during the quarter under review. In the year-ago
period, the same stood at Rs 1,275.01 crore.For the fiscal ended March 2022, CPIL's net profit was
up 4.14 per cent at Rs 1,078.32 crore. It had reported a net profit of Rs 1,035.39 crore in the previ-
ous financial year. Its revenue from operations was at Rs 5,066.46 crore in 2021-22. This is 5.32
per cent higher than Rs 4,810.48 crore in the year-ago period. Company’s revenue crossed Rs.5000
crore mark for the first time. in an environment of macro challenges and softening consumption, the
company was able to deliver balanced growth in the toothpaste category while the toothbrush
category witnessed a softening in demand. Calibrated pricing and focus on cost optimisation initia-
tives and efficiencies helped deliver consistent gross margins and EBITDA. The company's board
declared a second interim dividend for the FY 2021-22 of Rs 21 per share. Accumulate.
Blue Dart (Rs. 7413.00) (Code : 526612) : Blue Dart plans on expanding ground and
air express capacity which propel service quality to new heights. The company delivered one of
the strongest performances in the recent past. Topline grew by 21 per cent with a healthy mix of
volume growth and realisation improvement despite challenging geopolitical scenario. It reported
increase of 52.18 per cent in its consolidated net profit at Rs 136.97 crore for the fourth quarter
ended March 2022. Its revenue from operations rose 20.41 per cent to Rs 1,165.91 crore during the
quarter under review as against Rs 968.28 crore in the corresponding quarter of the preceding
fiscal. Its board in a meeting held on Wednesday recommended a dividend of Rs 35 per share.
Buy.
Bayer Cropscience (Rs. 5077.00) (Code : 506285) : Bayer Cropscience rose
significantly after it announced Q4 numbers. Its standalone net profit surged 147% to Rs 153 crore
on 31% rise in net sales to Rs 963 crore in Q4 March 2022 over Q4 March 2021. For the full year,
net profit rose 30.87% to Rs 645.30 crore on 11.10% rise in net sales to Rs 4734.40 crore in the
year ended March 2022 over the year ended March 2021. Profit before exceptional items & tax
stood at Rs 788.30 crore, lower than Rs 789.40 crore in the previous year. Net cash from operating
Cont...
Financial Weekly

June 2022 61
activities stood at Rs 215.50 crore in the year ended 31 March 2022, lower than Rs 686.70 crore in
the year ended March 2021. The board has recommended a final dividend of Rs 25 per share for
the year ended 31 March 2022. Bayer Cropscience is engaged in the agri care business. It oper-
ates in crop protection, seeds and environmental science segments. Invest.
Bata India (Rs. 1801.00) (Code : 500043) : Shoemaker Bata India Ltd has reported
over two-fold increase in its consolidated net profit at Rs 62.96 crore for the fourth quarter ended
March 31, 2022. Its revenue from operations increased 12.77 per cent to Rs 665.24 crore during
the quarter under review, as against Rs 589.90 crore in the corresponding quarter of 2020-21. For
the fiscal ended March 2022, Bata India's consolidated net profit was at Rs 102.99 crore. It had
reported a net loss of Rs 89.31 crore in fiscal year 2020-21. Its revenue from operations was at Rs
2,387.71 crore in 2021-22, 39.75 per cent higher than Rs 1,708.48 crore in the year-ago period.
The Board of the company has recommended a dividend of Rs 54.5 per equity share of Rs 5 each
fully paid-up of the company, which includes a one-time special dividend of Rs 50.5, for the year
ended March 31, 2022. Buy.
Tata Elxsi (Rs. 8333.00) (Code : 500408) : Tata Elxsi stock has seen strong recov-
ery after steep correction. The stock, after hitting 52-week high of Rs.9420 on 31st March, fell at
Rs.6812 on 10th May. However, the stock recovered and now trading at around Rs.8250 plus
level. Design and technology services provider has reported a 38.95 percent year-on-year (YoY)
rise in net profit at Rs 160 crore for the fourth quarter ended March 31, 2022. Its revenue from
operations rose 31.51 percent YoY to Rs 681.7 crore from Rs 518.39 crore. The company has
delivered the highest annual growth in its history, with full-year operating revenues growing by
35.3 percent and Profit after Tax (PAT) growing by 49.3 percent to Rs 549.7 crore, crossing Rs 500
crore for the first time. The company has reported Rs 2,470.8 crore of revenue from operations for
the financial year 2021-22 ending March 31, 2022, a growth of 35.3 percent YoY. The company
registered a net profit of Rs 549.7 crore during the year, growing 49.3 percent YoY. The Board of
Directors have recommended a final dividend of Rs 42.50 per equity share of par value of Rs 10
each for the financial year ending March 31, 2022. 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 27th May, 2022 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

June 2022 62
Corporate
Dev Information Technology Ltd. Feature
BSE: 543462 • NSE : DEVIT • CMP: RS. 177
Dev Information Technology Ltd. Announces Excellent results for quarter and year ended
31 March '22““BSE and NSE listed,Dev Information Technology Ltd.,a leading technology
solution provider delivering digital solutions leveraging Cloud, Automation & Data, has an-
nounced excellent results “for the year ended 31 March 2022, the revenue grew 18% YoY
from Rs. 84.85 Cr (FY21) to Rs. 100.05 Cr (FY22). Profit After Tax (PAT) saw massive im-
provement and turned positive at Rs. 1.87 Cr (FY22).“For the quarter ended 31 March 2022,
the revenues saw a jump of 30.24% YoY, from Rs. 24.63 Cr (Q4FY21) to Rs. 32.08 Cr
(Q4FY22). PAT zoomed to 0.74 Cr (Q4FY22). The company is optimistic to bag future Govt
projects from Gujarat Govt as they are leading Gujarat Govt digitalisation initiative. Major of
the contracts with Guj govt are for longterm which assures great sustainable growth.Company
is continuously driving for more product based sales revenue which will help improve
margins.It continue to aggressively pitch their digitalisation project work with other Indian
state govts which should help yield better margin business.The company has aggressive
plans for Middle East for better operating margins.The new Tally based product has started
getting good attraction for analytics dashboard requirement. This should lead their better Corporate
product margin business going ahead.The recent two blockchain based projects bagged,is
expected to add new technology dimensional capabilities,providing wide range of opportu- Feature
nities considering Govt focus on adopting DLT based systems for future work contracts.
Recent tie-up with Adani IT Institute will help backfill talent pool for new opportunities. There
is every opportunity of getting IT based projects from Adani group. Company is in process to
expand Microsoft partnership base to other offerings apart from Dynamics ERP offerings.
DevX the company's subsidiary would help unlock future valuations.Last mile impact with
this upgradation activity will result into quite a few Government department and citizen to get
the information processed effectively and quickly along with additional data security.“““*Dev
Information Technology Ltd. Collaborates with Adani Institute of Digital
TechnologyManagement & Orena Solutions““
DEV INFORMATION TECHNOLOGY LTD. (DEV IT) has teamed up with Adani Institute of
Digital Technology Management (AIDTM) & Orena Solutions to upskill IT students & profes-
sionals in Cloud, AI/ML, Blockchain & ongoing digital transformation technologies and give
them career opportunities.
DEV IT Ltd, a leading information technology solutions provider company, expects to
DEV INFORMATION TECHNOLOGY LTD Bags Orders significantly increase its workforce by 50% in the coming
years and to ensure that this growth journey is fuelled
worth Rs. 7.00 crore*““This order will be useful in“ with the right talent pool to strengthen their solution ca-
to upgrading the multiple servers with latest Oper- pabilities in Cloud, AI/ML, Blockchain and Mobility, DEV
ating system software and Relational Database IT has entered into an agreement with AIDTM & Orena
Solutions.
Management System software By this, DEV IT aims to provide unique opportunity to
aspiring talent by providing job-oriented customised dedi-
cated courses and developing their career in their pre-
ferred industry domain in association with AIDTM & Orena
Solutions. They shall be providing the necessary train-
ing and skill upgrades.
About DEV INFORMATION TECHNOLOGY LTD:
DEV INFORMATION TECHNOLOGY LTD. is a lead-
ing technology solution provider delivering digital solu-
tions leveraging Cloud, Automation & Data since 1997
and a public limited company listed on NSE & BSE. DEV
IT is a one-stop digital solution provider company for
various IT needs and helps its clients optimise their IT
into a strategic asset.
***
Collaborates with Adani Institute of Digital

Technology Management & Orena Solutions
Financial Weekly

June 2022 63
Dalal Street Whispers Dilip K. Shah
Amara Raja Batteries (Rs. 495.00) (Code : 500008) :- Amara Raja hits 52-week
low and it has now entered into a good buying range for mid-term to long term investors. Company
holds durable competitive advantages over peers due to its strong brand, technical expertise and
lower cost structure. With increasing demand of batteries in EV sector the stock will surely get
benefit of it in upcoming days. Considering this, the stock is recommended for mid-term to long
term period.
Zee Entertainment (Rs. 237.00) (Code : 505537) :- Zee Entertainment reported
a 18.2 % year-on-year rise in revenue from operations to Rs 2,323 crore for the reported quarter.
Company's OTT platform, Zee5's daily active user surged 44.5 % on year during the quarter to 10.5
million while global monthly active user touched 104.8 million with user engagement also on the
rises. Reacting to this, the stock might gain momentum for short term to mid-term period.
Page Industries (Rs. 44485.00) (Code : 532827) :- reported a 64.86 % year-on-
year increase in net profit at Rs 190.52 crore for the Q4FY22.Revenue from operations was up
26.15 % at Rs 1,111.11 crore during the quarter under review, as against Rs 880.76 crore in the
year-ago period. The company has also declared Rs. 70 per share dividend for FY2021-22. React-
ing to this, the stock gained momentum and it might continue for short term to mid-term period.
Hindalco (Rs. 409.00) (Code : 500440) :- Hindalco Industries'consolidated net
profit rose 99.74% to Rs 3,851 crore on 37.67% rise in net sales to Rs 55,764 crore in Q4 March
2022 over Q4 March 2021. Company's EBITDA jumped 30% to Rs 7,597 crore during the period
under review. Considering the company being world's largest aluminium company by revenues,
and a major player in copper and one of Asia's largest producers of primary aluminium it is recom-
mended for mid-term to long term period.
Power Finance (Rs. 109.00) (Code: 532810) :- The company’s March quarter profit
increased to Rs. 4295 crore from Rs. 3906 crore, while income rose from Rs. 18148 crore to Rs.
18853 crore.
Coal India (Rs. 181.00) (Code: 533278) :- The company’s March quarter income
rose 20% to Rs. 32710 crore from Rs. 26700 crore, while net profit was Rs. 6690 crore as against
Rs. 5400 crore.
Asahi India (Rs. 448.00) (Code: 515030) :- The company reported income of Rs.
940 crore for the March quarter as against Rs. 808 crore last year, while net profit zoomed 84% to
Rs. 127.50 crore.
GMM Pfaulder (Rs. 4204.00) (Code: 505255) :- The company’s profit for the March
quarter was Rs. 39 crore as against Rs. 38 crore last year. Income, however, jumped 52% to Rs.
699 crore from Rs. 495 crore.
Shalby (Rs. 105.00) (Code: 540797) :- The company reported income of Rs. 660
crore, an increase of 54% for the year 2021-22. The bed occupancy was up 31% while patient
Cont.....
Financial Weekly

June 2022 64
numbers rose 41%.
Sundaram Finance (Rs. 1611.00) (Code: 590071) :- This NBFC reported profit of
Rs. 299 crore for the March quarter, significantly higher than analysts’ projections of Rs. 225 crore.
Polyplex Corporation (Rs. 2253.00) (Code: 524051) :- The March quarter profit
was Rs. 304.4 crore, almost Rs. 100 crore more than last year’s Rs. 205 crore. Income rose 49% to
Rs. 1886 crore.
Karur Vysya Bank (Rs. 44.00) (Code: 590003) :- Profit for the fourth quarter was
Rs. 213 crore, more than double the last year’s Rs. 104 crore. Interest income rose from Rs. 613
crore to Rs. 710 crore. Net interest margin was 3.69%.
BHEL (Rs. 51.00) (Code: 500103) :- This capital goods company reported 12.3%
growth in income at Rs. 8062 crore for the March quarter. It reported profit of Rs. 912 crore for the
quarter as against loss of Rs. 1035 crore last year.
Maruti Suzuki (Rs. 7941.00) (Code: 532500) :- The country’s largest carmaker is
acquiring stake in Sociograph Solutions for less than Rs. 2 crore.
Graphite India (Rs. 439.00) (Code: 509488) :- The company’s March quarter profit
rose 48% to Rs. 95 crore, while income was up 49.4% to Rs.844 crore.
LIC (Rs. 821.00) (Code: 543526) :- The company will announce its March quarter
results on May 30, its first since its listing. The board will also consider dividend in its meeting.
Torrent Pharma (Rs. 2939.00) (Code: 500420) :- This Gujarat-based pharma
company has announced bonus and special dividend. It has announced bonus issue in the ratio of
1:1 and a final dividend of Rs. 23 per share, including special dividend of Rs. 15. It has also an-
nounced acquisition of four products from Dr. Reddy’s.
Minda Industries (Rs. 903.00) (Code: 532539) :- This auto components company
has announced bonus shares in the ratio of 1:1. It has also announced a dividend of Re. 1 per
share. It has fixed June 10 as the record date for the bonus. It will also raise Rs. 1000 crore through
private placement.
HCG (Rs. 275.00) (Code: 539787) :- This hospital chain has reported turnaround num-
bers. It has reported profit of Rs. 2.25 crore for the March quarter compared with loss of Rs. 114
crore last year.
ONGC (Rs. 143.00) (Code: 500312) :- Shares of this oil & gas company surged due to
rise in crude prices, but have corrected more than 10%. The company has announced investments
of Rs. 31,000 crore in three years.
NFL (Rs. 51.00) (Code: 523630) :- This fertiliser company has returned to the black by
reporting profit of Rs. 6.06 crore for the March quarter as against loss of Rs. 9.5 crore last year.
Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may
have investment in this stocks • I/My family have no financial interest or beneficial interest of more than 1% in the company whose stocks I am
recommending • Stop loss is useful for Short / Medium Term investor Only • Smart Investment will not be responsible / liable for any loss arising
out of investment based on tis advices • Past performance may or may not be substainedin future " (Dilip K. Shah) Research Analyst : SEBI
Regn No. : INH000002152
Financial Weekly

June 2022 65
Fresh buying in Metal and Fertilizers stock
Col Ajayastromoneyguru
Mobile 9414056705
As per Col Ajay CEO www.ajayastromoneyguru.com first week of June month 2022
represented by planet known as Jupiter and year 2022 represented by planet known as
Venus .
This Important planet sun will be in Venus house creat conjuction with Mercury and Moon
Jupiter and Mars will be making conjunction in Mars house
Great up swing has seen in public sector stocks HAL, Maruti suzuki in previous week
seen as per our advance prediction.
Gold and silver were also seen good bounce back as per previous prediction .
Cotton has seen profit booking in commodity market as per Expections .
Keeping in view of inflation goverment impose ban on wheat and sugar export.
Now as per astro Economics polymers market was under pressure last few weeks .Now
polymers product like polyethylene are looking positive during second half the june month.
Indian Stock market may see postive move next week during first half of the week but
second half of the week may attract profit booking .
Keep eyes on NFL , Chambal fertilizer, looking good for short term investment.
China few cities are also lifting Covid restrictions may attract fresh buying in metal spe-
cially copper and steel.
Next few weeks may be important for Indian Economy , we shall update timely for South
west Monsoon.
The above prediction and Analysis is done basis of Fundamental Analysis and Financial
Astrology .
Risk management is mandatory tool in stock Market .
You may use your wisdom and consult your analyst before taking any decision .
The above Analysis only for Education purpose.
Col Ajayastromoneyguru
Mobile 9414056705
Financial Weekly

June 2022 66
Investor’s Third Eye
Smt. Dr. Hemavathy / Padmanaban (Chennai)
E-mail : investorsthirdeye@gmail.com
Astrological planetary predictions

FOR STOCK MARKET INVESTMENTS
(From 30th May to 5th June 2022)
In this week, Jupiter and mars in Pisces, Rahu, mercury and venues in Aries, sun in
Taurus, Saturn in Capricorn, Ketu in Libra, Moon occupies Taurus, Gemini and cancer houses.
On 30th May and 31str May 2022, Jupiter and mars in psices taking eleventh position towards
Saturn in Capricorn may bring volatility in the market to certain extent. On 1st and 2nd June
2022, Moon in Gemini taking 10th position towards mars, and Jupiter in Pisces may favour
the market to certain extent. On 3rd june 2022, moon in cancer taking seventh position
towards Saturn in Capricorn may favour the market Health and pharmaceuticals sectors,
Information Technology, Electric and electronic business may show good boom in the market.
KIMS, Globus Sprits, Mega soft, GAIL, DCM shriram, Venus remedies, Prataap snacks,
Duncan Infra, Tanla Platforms Coal India, Krsna Dignanotics, Sastha Sundar, Rane Madras,
may see good movement in the stock prices.
GOLD PRICE MOVEMENTS

(From 30th May to 5th June 2022)
30th May and 31st May 2022 : The conjunction of Sun and Moon in Taurus taking
eleventh position towards Jupiter and mars in Pisces may favour the market
1st June and 2nd June 2022 : Moon in gemini taking 11th position towards venus,
mercury and Rahu in Aries may bring volatility in the market
3rd june 2022 : Moon in cancer taking seventh position towards Saturn in Capricorn
may favour the market to certain extent
Financial Weekly

June 2022 67
Senior Astrologer
Dharmesh Joshi
Mob. : 9909941816 • E-mail : stockmarket@ganeshaspeaks.com
Sensex Predictions
Dt : 30th May 2022 to 3rd June 2022
" Please consider 10 minutes plus and minus in each prediction, and act accordingly. " Ganesha
advises you to compare every prediction with the prediction of the previous time slot. " Hey pals!
Book is available; order your personalised book as soon as possible from the link below.
30-05-2022 Monday :- " In the first 30 minutes, Nifty is likely to remain around
the surface. " Nifty may stay up between 9.45 and 12.30. " Nifty is likely to remain on the soft side
between 12.30 and 14.40. " Nifty possibly stays up between 14.40 and 15.30.
31-05-2022 Tuesday :- " Buy Nifty around 11.11, and exit around 12.12. " Go
for a short sale around 12.15, and exit around 13.30. " Buy Nifty around 14.14, earn Rs.2, then
make an exit.
01-06-2022 Wednesday :- " In Nifty, work in three parts today- " Part - 1 = Let
the Nifty settle for a while then you can buy Nifty or buy stock of "A" group and earn money by
upside jobing till 12.12 " Part - 2 = Nifty is likely to maintain the downtrend from 12.12 to 14.23. "
Part - 3 = Nifty catches uptrend in the last slot.
02-06-2022 Thursday :- " Only go for jobing between 9.15 and 11.15. " Nifty
may remain strong between 11.15 and 12.15. " The time frame between 12.15 to 14.15 can be
called boring, dull, monotonous, or dim. " Nifty may go up step by step in the last 75 minutes.
03-06-2022 Friday :- " Solid volatility is observed between 9.15 and 11.15,
where FII / DII / MF may play on both sides. " The sudden jump comes around 11.15, which lasts
till 12.17. " 12.17 to 15.30 write (W) in the capital, a similar pattern can be seen in Nifty. Hence,
prepare accordingly.
Financial Weekly

June 2022 68
Financial Weekly
Editor : Dilip K. Shah
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Disclaimer :- Investment recommendations made in Smart Investment are for information
purposes only and derived from source that are deemed to be reliable but their accuracy and
completeness are not guaranteed. Smart Investment or the analyst / writer do not accept any
liability for the use of this column for the buying or selling of securities. Readers of this column who
buy or sell securities based on the information in this column are soley responsible for their ac-
tions. The author, his company or his acquaintance may / may not have positions in the scrips
featured herein
Financial Weekly

June 2022 69
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