SMART NEW

TM
Only Financial Weekly Published in

English & Gujarati Language
Editor : Dilip K. Shah

ARCHI PUBLICATIONS
311 to 313, Nalanda Enclave, Pritamnagar 1st Dhal, Ellisbridge,
Ahmedabad-6. GUJARAT, INDIA
Phone : 079 - 2657 66 39

Mob. : 9825306980 , 9825006980
E-mail :
smartinvest25@gmail.com
smartinvest25@yahoo.in
web : www.smartinvestment.in
Warning
Financial :- Your soft Copy isTM
Weekly for your exclusive use only. Any attempt to share your copy or forward-
ing your copy to a non-subscriber will disqualify your membership & we will be compelled to stop your
supply and forfeit your subscription thereafter without any refund to you.
:: Shree Ganeshay Namh :: 7th July 2024 to 13th July 2024 2
Page
Only Financial Weekly Published in English & Gujarati
92
TM
GAMC No. :1703/2021-23. Issued by SSP Ahd. Valid up to 31-12-2023

VOL : 17 • Issue No: 22 RNI No : GUJENG / 2008 / 24320 7th July 2024 to 13th July 2024
FII ACTIVITY (Rs. in Cr.)

DATE BUY VALUE SELL VALUE NET VALUE
01-07-2024 13206.44 13632.47 -426.03
02-07-2024 14551.15 16551.27 -2000.12
03-07-2024 18023.92 12540.29 5483.63
04-07-2024 59618.79 53985.46 5633.33
05-07-2024 13354.3 12112.97 1241.33
TOTAL 118754.6 108822.46 9932.14
DATE BUY VALUE SELL VALUE NET VALUE
01-07-2024 16210.07 12292.64 3917.13
02-07-2024 14203.4 13555.15 648.25
03-07-2024 14121.15 14045.58 -924.43
04-07-2024 55837.94 54,571.87 1266.07
05-07-2004 12695.07 14346.43 -1651.36
TOTAL 113067.63 108811.67 3255.66
Most Popular Webstie for the Stock Market Investors
www.smartinvestment.in
Caution : Please note that your copy/access to our website is for your exclusive use only. Any attempt to share your
access to our website or forwarding your copy to a non-subscriber will disqualify your membership and we will be
compelled to stop your supply and forfeit your subscription thereafter without any refund to you.
Click on our website : www.smartinvestment.in

For More Detail E-mail to: smartinvest25@gmail.com
Only Financial Weekly Published in English & Gujarati
TM
GAMC No. :1703/2021-23. Issued by SSP Ahd. Valid up to 31-12-2023

RNI No : GUJENG / 2008 / 24320
According to the Indian Newspaper Society,

newspapers can collect fines from the
administrator of the WhatsApp group
It is illegal to broadcast PDF copy of
Newspaper on WhatsApp & Telegram group,
action can be taken on group admin
In the period of pandemic of Covid-19, Newspapers are facing
challenges related to distribution on the one hand, on the other
hand, their e-paper copy and digital piracy incidents have also in-
creased. This is causing loss of revenue to newspapers. In view of
this, the Indian Newspaper Society (INS) has warned that it is
illegal to download pages from e-papers of newspapers and circu-
late their PDF file in WhatsApp or Telegram Group.
Newspapers can take stringent legal and heavy penalties against
a person who illegally circulates on social media by copying e-paper
or portions thereof. Administrators of that WhatsApp or Telegram
group will be held responsible for illegally circulating e-copy of news-
paper in such a group.
Financial Weekly TM
7th July 2024 to 13th July 2024 4

Financial Weekly TM

Jatin Sanghavi
Market Scan - Mumbai
Momentum & Over-Bought

Markets In Over-Bought Territory
Markets are in such super-momentum mode that any decline is being quickly arrested and immediately
bought into. Market has been overtaken by Momentum and there is no stopping it. Not only the Mid Cap and
Small Cap stocks, but also the Frontline stocks are overflowing with momentum and as a result all the
indices i.e. Small Cap Index, Mid Cap Index and even the Nifty is now in Over-Bought territory. For more
than a month, Stochastic Oscillator has been over-bought and now the RSI was over-bought for the entire
past week. Nifty has been galloping away at fast speed, thanks mainly to two heavy-weights Reliance
Industries and HDFC Bank, towards short term target of 24607 and beyond. Since the Trend across
timeframes is Bullish, every decline is a buying opportunity.
Opening White Body Marubuzo :- For the second consecutive week, Nifty has formed a Weekly
Opening White body Marubuzo. It is a big white body candle which indicates continuation of Bullish momen-
tum. On the daily charts, Nifty has formed a white body candle which is completing a Bullish Meeting Lines
pattern. But it cannot be construed as Bullish as it is forming at the top of an Uptrend and secondly previous
days black body is small. Hence Weekly Candlestick pattern suggests continuation of Bullish bias in the
near term.
Support Zone :- Nifty is having

immediate Support at the Short term
Average of 20dma (23725). But strong
Support for the Nifty is seen at Bullish
Rising Gap at 23562-23558. This Gap
at 23562-23558 will now act as strong
Support Zone. Also below this Nifty has
a minor higher bottom support at
23350.
Pattern Analysis :- Nifty is on a
spree to achieve Bullish Pattern targets
one by one. First it was Bullish Rect-
This Week Recommendations angle Pattern Target (23395-23767)
and then Rising Channel Target of
Stocks CMP SL Tgt-1 Tgt-2 23714. Both the targets were achieved
Buy CumminsInd 4134 4045 4271 4413 with ease and now Nifty is gunning for
Buy HBLPower 569 555 591 615 Spike pattern target of 24607-25393
Buy BEL 324 317 335 347 with full speed and momentum. Spike
Buy BHEL 316 310 325 335 pattern was a result of increase in Vola-
tility and uncertainty.
Buy Zomato 207 202 215 224
:::: INDEX LEVELS ::::

S3 S2 S1 CLOSE R1 R2 R3
NIFTY 23562 23823 24088 24320 24469 24607 24778
SENSEX 77851 78578 79231 79996 80476 80987 81444
Financial Weekly TM

Financial Weekly TM

KUNAL SODHANI
FX Hub
Dollar drops amid weak labour market data against majors
Rupee may continue to consolidate for some more time
The US Nonfarm Payrolls print got overshadowed by a downward revision from the previous
number, from 272,000 to 218,000. The Unemployment Rate ticked up as well from 4.0% to 4.1%.
Should that unemployment rate start to tick up consecutively over the summer, than the Fed has
enough reason to start cutting in September for the first time. 10Y UST yields are seen cooling of
as well.
Markets are currently seeing a 74% chance of a cut in September, according to the CME
FedWatch tool, and pricing in potentially two rate cuts this year. At the beginning of the week, the
September rate cut probability stood at around 64%.
On the UK side of the equation, the Pound Sterling held firmer throughout the week, having
already priced in a landslide win for the opposition Labour Party. Finally, the results of the vote
count showed a sweeping victory for Labour, securing above the required 326 seats needed for a
working majority in the 650-seat strong House of Commons.
Talking about the France elections, the far-right National Rally party of Marine Le Pen is no
longer in the position to gain a majority, according to recent polls. The appeal for the Euro im-
proves amid expectations that the Marine Le Pen-led far-right National Rally would fail to convert
its victory of the first round into an absolute majority due to the tactical withdrawal of at least 200
candidates from Sunday’s legislative elections by a coalition of French President Emmanuel Ma-
cron-led entrist alliance and the left-wing. On the monetary policy front, speculation for the Euro-
pean Central Bank (ECB) delivering subsequent rate cuts on July 18 has diminished as disinflation
in the Eurozone appears to be stalling.
For Dollar Index (DXY), 104.00 acts as a support while 105.80/106.20 acts as a major resis-
tance. While for USDINR, 83.30 acts as an immediate support followed by 83.10 while onshore
highs of 83.6750 and NDF high of 83.72 can be seen as a major resistance. Budget will remain the
key to watch.
Financial Weekly TM

Rapid Fire Stocks
Kalpna J
Container Corporation Of India (CONCOR)
Buy at CMP - 1060 for the targets of 1195 to 1333,
Time Frame - 3 to 12 Months
The company has shown a good profit growth of 45.98% for the Past 3 years. Company is
virtually debt free. Company has a healthy Interest coverage ratio of 27.88. The Company has
been maintaining an effective Company has a healthy Interest coverage ratio of 27.88. The Com-
pany has been maintaining an effective average operating margins of 22.35% in the last 5 years.
The company has an efficient Cash Conversion Cycle of 10.12 days. Company has a healthy
liquidity position with current ratio of 3.07. The company has a good cash flow management; CFO/
PAT stands at 1.38. The company has a high promoter holding of 54.80%
For the quarter ended 31-03-2024, the company has reported a Consolidated Total Income of
Rs 2,417.87 Crore, up 5.03 % from last quarter Total Income of Rs 2,302.12 Crore and up 6.14 %
from last year same quarter Total Income of Rs 2,278.10 Crore. Company has reported net profit
after tax of Rs 301.25 Crore in latest quarter.
Container Corporation Of India (CONCOR) is engaged in the business of providing inland trans-
portation of containers by rail. It also covers the Management of Ports, Air cargo complexes and
establishes cold chains.
The mission of the Company is to join its community partners and stake holders to make CONCOR
a Company of outstanding quality. To provide responsive, cost effective, efficient and reliable lo-
gistics solutions to its customers through synergy with community partners and ensuring profitabil-
ity and growth.
To be the first choice for our customers, the Company remains firmly committed to its social
responsibility and prove worthy of trust reposed in it. Rail is the mainstay of the Co’s transportation
plans & strategy with the majority of the Co’s terminals being rail-linked. Some of the Co’s termi-
nals are exclusively road-fed as well.
The Co’s terminals provide a spectrum of facilities in terms of warehousing, container parking,
repair facilities, and even office complexes. Container Freight Station (CFS) Operator: As a CFS
operator, the Co. adds value to the logistics chain by offering services such as Transit warehous-
ing for import and export cargo, Bonded warehousing, enabling importers to store cargo and make
partial deliveries, thereby deferring duty payment, Less than Container Load (LCL) consolidation,
and reworking of LCL cargo at nominated hubs, and Air cargo clearance using bonded trucking.
Financial Weekly TM

Research Report Het Zaveri
- Ahmedabad
PERSISTENT SYTEMS
Persistent Systems Limited is a trusted Digital Engi- CMP Rs. 4773.00
neering Enterprise Modernization partner for software 52 - week high Rs. 4843.00
product companies and enterprises, combining deep 52 - week low 2318.00
technical expertise and industry experience. The Com- Dividend % (Consolidated) 0.58 %
pany work with companies who build and deploy soft- ROCE 29.2 %
ware products and it partner with them across all phases BV (Rs.) 322
Sales (Rs.) 9,822 cr.
of the product lifecycle. Their team is trained with its
Debt to Equity ratio 0.09
proprietary techniques, time-to-market accelerators, con- P/E ratio 64.8
nectors, and integration services which help the cus- EPS (consolidated) Rs. 71
tomers to deliver products to their end users efficiently. P/B ratio 14.0
The company delivers services, which enables to work Market Cap Rs. 69,306 Cr.
with a wide-range of customers and develop, enhance, Face value Rs. 5
and deploy customer's software products. It provides PEG ratio 2.40
software engineering and strategy services to help companies implement and modernize their
businesses. It provides complete Digital Engineering solutions for Product & Platform Engineer-
ing, CX & Design-Led Transformation, Cloud-enabled Enterprise Modernization, Data & Artificial
Intelligence, and Intelligent Automation. For providing industry best products and services com-
pany has partnered with leading Tech giants such as Microsoft, AWS, Google Cloud, IBM and
Sales Force. Company is Gold Partner & DirectCSP with 6,536+technologists to Microsoft with
5,050+ Certifications, Premier Partnerwith 2,146+technologists with AWS with 1,250+ Certifica-
Cont...
Financial Weekly TM

tions, Premier Partnerwith 844+technologists with Google cloud with 1800+ certifications, Global
Summit Partnerwith Sales Force with 2,450+technologists and Platinum BusinessPartner with IBM
with 2,031+technologists. In total company holds 16,200+ certifications.
Company's major business segments include BFSI, Healthcare & Life Sciences, Software, Hi-
Tech and Emerging Industries with375+ clients across various business verticals. It is helping
market leaders transform their industries and it serves 6 of 10 Top Global Technology companies
under Software and Hi-Tech business, 5 of 10 Largest banks in India and USA along with 30+
Fintech companies under Banking, FinancialServices & Insurance business, 7 of 10TopScientific
Instruments and Medical Devices companies, 5 of 10 Top Pharmaceutical companies, 4 of 10
Health providers and Payors and 4 of 10Top Clinical ResearchOrganizations under Healthcare
and Life sciences.
The company hasglobal presence with presence in 21+ countries including Canada, USA, In-
dia, Mexico, Costa Rica, UK, Ireland, Netherlands, Poland, Germany, France, Switzerland, Italy,
Romania, Srilanka, South Africa, Malaysia, Singapore, Australia, and Japan.
Order Book:
Company's order booking for the quarter ended on March 31, 2024, was at $447.7 million in
TotalContract Value (TCV) and at $316.8 million in Annual Contract Value (ACV) terms.
Company's Top 10 clients contributed 40% of the total revenue of the company and its large
client counts who contributes more than $5M Annual Revenue reached 40 in Q4 of FY24.
Cont...
Financial Weekly TM
Financial Results:
Company has reported Net Sales of at Rs 2,590.53 crore in March 2024 up 14.91% from Rs.
2,254.47 crore in March 2023. Its Quarterly Net Profit was at Rs. 315.32 crore in March 2024 up
25.37% from Rs. 251.51 crore in March 2023. Its EBITDA stands at Rs. 485.15 crore in March 2024
up 14.12% from Rs. 425.14 crore in March 2023.Persistent's EPS has decreased to Rs. 20.73 in
March 2024 from Rs. 33.65 in March 2023.
On Y-o-Y basis company reported revenue of $1,186.0M and PAT of ?10.9B in Fy24 marking
14.5% and 18.7% jump respectively compared to previous year.
Key Updates:
Persistent has recently announced a long-term Strategic Partnership Agreement with Google
Cloud for expanded reach across the US, India, UK, and Australia. This agreement focuses on
driving joint go-to-market activities and accelerating digital transformation for enterprises globally.
Using Google Cloud's Gemini models, along with other innovative Google technologies, the Com-
pany will develop industry-specific solutions to drive broad-based GenAI adoption.
The company has launched GenAI Hub, an innovative platform designed to accelerate the cre-
ation and deployment of Generative AI (GenAI) applications within enterprises. This platform
seamlessly integrates with an organization's existing infrastructure, applications, and data, en-
abling the rapid development of tailored, industry specific GenAI solutions. GenAI Hub supports
the adoption of GenAI across various Large Language Models (LLMs) and clouds, without pro-
vider lock-in.
It has recently achieved Premier Services Partner status with Snowflake, the Data Cloud com-
pany. As a Premier Services Partner, Persistent will be able to accelerate clients' data journeys,
enabling them to leverage the Snowflake Data Cloud's flexibility, accuracy, and scalability.
Cont...
Financial Weekly TM

Company has also launched Persistent iAURA, a suite of AI-powered data solutions engineered
to catalyze business growth. iAURA empowers businesses with seamless deployment and preci-
sion in addressing data challenges for AI implementations. The solutions harness AI and ML to
uncover hidden patterns, enabling data-driven decision-making, enhanced business intelligence,
and automated data quality assurance and reconciliation.
It has also launched SASVA, a pioneering manageable and secure enterprise AI platform lever-
aging Large Language Models (LLMs) and Machine Learning (ML) to accelerate software releases,
with faster time-to-market, and improved efficiency. It will be embedded into software engineering
to efficiently address distinct use cases by preventing technical debt in new development, minimiz-
ing accumulated technical debt in mid- to late-stage software, and addressing complex scenarios
in software sustenance and specialized industries with enterprise scale.
Adding to is service portfolio company has also launched an innovative Generative AI-powered
Population Health Management (PHM) Solution in collaboration with Microsoft. Aligned with value-
based care models, the Solution identifies Social Determinants of Health (SDoH) to determine
patients' non-clinical needs and better predict the cost of care driven by clinical conditions. It helps
patients receive quality care at the right time and in the right place, while optimizing capacity and
cost-effectiveness for healthcare providers and organizations.
Company has recently entered into a multi-year Strategic Collaboration Agreement with Ama-
zon Web Services (AWS) to accelerate the pace of innovation and development of generative AI
solutions for clients. It is already a long-standing AWS Partner and has a proven track record of
early scale generative AI adoption across multiple industry verticals leveraging services like Ama-
zon CodeWhisperer and Amazon Bedrock.
Company was recently selected for inclusion in the MSCI India Index, S&P BSE 100 and S&P
BSE SENSEX Next 50 indices.
It has launched a unique open-source maintenance service to facilitate keeping an organization's
open-source software up to date with all patches, bug fixes, and incorporating the latest software
releases. The service is comprised of a dedicated team of experts and specialists dealing with a
wide range of complex software, equipped with the latest technologies, and backed by a knowl-
edge base to help clients maintain their open-source software with all releases for the continuity of
business operations.
Company has entered into a strategic partnership with Software AG (MDAX and TecDAX:SOW),
a leader in enterprise software for integration, IoT, and automation. Persistent will develop joint
solutions to accelerate operational excellence by modernizing applications and processes as well
as moving data more easily across enterprises to unlock value. The partnership will address the
challenges and opportunities that business leaders face as they transform their organizations.
It has also bagged Premier Tier Services Partner status within the Amazon Web Services (AWS)
Partner Network (APN), further strengthening its relationship with AWS. Achieving the highest
level of APN status demonstrates Persistent's expertise and success in helping clients design,
architect, migrate, modernize, and manage their AWS workloads while maximizing their cloud
investments.
Company has further strengthened its partnership with Google Cloud by launching a suite of
Google Cloud-powered Generative AI solutions. These offerings will equip clients throughout their
AI journeys, from AI explorers to Generative AI disruptors, to understand how to successfully iden-
tify and implement these advanced technologies to their businesses at scale.
Company has inaugurated a state-of-the-art 5G Lab to provide a testing and development envi-
ronment for network functions and product development activities for operators and network equip-
ment vendors, as well as for Communications, Media, and IoT independent software vendors (ISVs).
Cont...
Financial Weekly TM

The Lab encourages interoperability and quick deployment to achieve faster monetization of 5G
solutions. It will provide a setup to test end-to-end industry use cases in multi-cloud orchestration,
Open RAN, MEC, and more.
It has opened Private Equity (PE) Value Creation Hub in Plano, Texas. The center will expand
the Company's onshore footprint and strengthen its presence in the rapidly evolving PE market by
providing expertise across the full asset lifecycle for global PE firms and their portfolio companies.
Company has also strengthened its strategic relationship with Zscaler by reaching the Zenith
partnership tier. Persistent aims to leverage its Zscaler partnership to assist clients in strengthen-
ing and modernizing their security posture with a zero-trust security model.
Company is also strengthening its relationship with Amazon Web Services (AWS) and becom-
ing a collaborator for the latest Generative AI services from AWS. As part of its goal to drive devel-
oper productivity, Persistent plans to equip its 16,000-plus engineering organization to use Ama-
zon CodeWhisperer to build and deliver industry applications faster and more securely for enter-
prise clients.
Company has recently inaugurated its first office in Poland to expand its nearshore capabilities
in Europe. Situated in Kraków, this new office will be the latest addition to the Company's growing
global delivery network. This delivery center will play a crucial role in driving digital transformation
for clients across industries and provide local IT professionals ample opportunities to advance
their careers by building cutting-edge software products and digital solutions.
Company has also launched a dedicated employee experience practice, based on the powerful
Microsoft Viva platform and Generative AI. As part of its continued 360-degree partnership with
Microsoft, Persistent is expanding its existing Azure Center of Excellence with Generative AI-based
Modern Workplace solutions that promise to create a unified employee experience while improv-
ing the overall workplace.
In last3 Years the stock gave a return of 207.34%as compared to the rise of Sensex and Nifty in
the same period.
Persistent systems is one of the leading IT services provider companies with worldwide pres-
ence and serving leading sectors of world economy. Considering company's growth over the years,
growth of BFSI, Fintech, Healthcare, and other related sectors in upcoming years, proven financial
track record, global presence, partnerships with leading tech platforms and growth of AI, ML and Dl
in upcoming years, investors can invest in this company with buy in dips strategy.
HET ZAVERI
info@smartinvestment.in
(Disclosures: At the time of writing this article, author, his clients & dependent family members may have
positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family
members may make 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. Inves-
tors should take their own decisions. We assume no responsibility for any transactions undertaken by them.
The author won't be liable or responsible for any legal or financial losses made by anybody. Investors must take
advice from their financial advisors before investing in any stocks.
Financial Weekly TM

BUY.... BUY....BUY TIPS OF THE WEEK
Co. Name Code Price Co. Name Code Price
NBCC 534309 188.00 Bata India 500043 1507.00
HCC 500185 48.00 Elecon Engg 505700 1376.00
IDFC First Bank 539437 81.00 Dredging Corp 523618 1403.00
EIL 532178 268.00 Raymond 500330 3226.00
Yes Bank 532648 26.00 Sun Pharma 524715 1568.00
Sail 500113 155.00 Ahluwalia 532811 1466.00
Gail 532155 222.00 Cummins India 500480 4132.00
Zaggle Prepaid 543985 295.00 Metropolish HC 542650 2036.00
Power Grid 532898 339.00 Fiem Ind 532768 1341.00
Laurus Lab 540222 477.00 Lupin 500257 1769.00
RVNL 542649 491.00 Reliance Ind 500325 3180.00
Heritage Food 519552 539.00 Data Patterns 543428 3391.00
Adani wilmar 543458 332.00 TVS Motors 532343 2430.00
IRCON 541956 307.00 Aurobindo Ph. 524804 1304.00
Aarti Ind 524208 721.00 BASF India 500042 5378.00
LIC HF 500253 795.00 BEML 500048 5066.00
Vardhman Tex 502986 535.00 Apollo Hospital 508869 6328.00
West Life Food 505533 853.00 Concor 531344 1059.00
ITDC 532189 871.00 Anand Rathi 543415 4004.00
Nalco 532234 199.00 Eicher Motors 505200 4736.00
Smart Investment Website Index
44,888 hits only 1 Week
Total number of Hits
2,24,95,999
Kuber Bhandar of earnings
Future - Options, Stock - Watch, Funda - Picks,
Technical Shares, Speculative Scrips, Primary Market,
Financial Weekly TM
SAR Televenture Limited

announces Composite Equity Issue of Rs 450 crore
Net proceeds from FPO and RI will be utilized,

Corporate Feature inter alia towards funding capital expenditure and
working capital augmenting future growth
SAR Televenture Limited is a telecommunica-
tion infrastructure provider, engaged primarily in SAR TELEVENTURE
the business of installing and commissioning FPO RIGHTS ISSUE
telecom towers & FTTH in India. The Company is Issue Opens 4-7-2024 15-7-2024
engaged in the installation and commissioning of Issue Closes 8-7-2024 22-7-2024
4G and 5G Towers, Optical Fibre Cable (OFC) Price Band Rs 200 to 210 Rs 200 (Including Premium Rs 198)
Systems, and dealing in network equipment. SAR Issue Size Rs. 150 Cr Rs 300 Cr (1,50,00,000 Fully Paid
Televenture is registered as Infrastructure Pro- Eq. Shares Rs 2/- Each)
Record Date 9 July 2024
vider Category I (IP-I) with the Department of Tele-
Lot Size 500 Share 500 Share
communication (DOT). The company leases out
Ratio 1:1
build sites i.e. GBT/RTT/Pole sites and Out Door CMP (3-7-24) 265.70 265.70
Small Cell (ODSC) and establishes and maintains Market Cap 398.55 Cr 398.55 Cr
assets such as Dark Fibres, Right of Way, Duct
Space, and Tower for the purpose of granting on
lease or rent or sale basis to the licensees of
Telecom Services. As on May 31, 2024, the Com-
pany has installed an aggregate 413 towers on
lease across West Bengal, Bihar, Cont...
For existing shareholders record
date of Rights issue is Tuesday, July
09'", 2024. One Rights Share will be
allocated to existing shareholder for
every one Equity Share held
Financial Weekly TM

U t ta r Pr a d es h , C h a nd i g ar h , O d i sh a , Sar Televenture Projects
Jharkhand, Himachal Pradesh, Punjab, and
Andaman & Nicobar Islands. • EMF & VSWR Testing
SAR Televenture Limited came out with an • BTS and Microwave installation
SME IPO (Initial Public Offer) and got listed • Fixing of RF Antennae and MW Antennae
its equity shares on NSE Emerge Platform and • Alignment of Antennae as per specifications
became a public listed Company on Novem- • Implementation of 4th sector addition
ber 08, 2023. The Company was, inter alia, • FTTH network implementation
set up with an object to provide telecommu-
• WIFI implementation
nication solutions to telecom network opera-
tors for the evolving telecom industry and lay- • O&M of Active Network
ing of fibre cables. • RF & LOS Survey
SAR Televenture Limited (NSE Symbol: • Provide solution for dismantling services of M/W
SARTELE) has now announced Composite ,GSM antenna and BTS
Equity Issue of Rs 450 crore. The Composite • Provide Logistic solution for material SRN
Issue comprises Rights Issue aggregating up • OFC laying and maintenance
to Rs 300 crore and FPO aggregating up to
Rs 150 crore. The proposal for fund raising Fund raising of equity share will be Composite of
of an amount up to Rs 450 crore through is- Rights Issue (“RI”) and Further Public Offer (“FPO”)
suance of equity shares through Composite
Issue was approved at the meeting of the The price band of FPO will be
Board of Directors of the Company held on
20" January 2024.
Rs 200 to Rs 210 per Equity Shares
The Rights Issue will comprise 1,50,00,000 fully paid up Equity Shares of Rs. 2 each at an issue
price of Rs 200 per Rights share (including premium of Rs 198 per Rights Share). The Rights Issue will
open on Monday, July 15" 2024 and close on Monday, July 224, 2024.
Existing shareholders will get 1 (one) Rights share for 1 (one) equity share held as on record date
Tuesday, July 09" 2024 for the purpose of date determining the equity shareholder's entitled to re-
ceive the Rights Entitlement in the Rights Issue (“Eligible Equity Shareholders for Rights Issue”) The
price band of FPO will be Rs 200 to Rs 210 per Equity Share.
The Company proposes to utilize the Net proceeds towards (i) funding setting up of Fiber-to-the-
Home (FTTH) network solutions for 3,00,000 Home Passes estimated to be Rs 273 crore; (ii) Setting
up of an additional 1000 number of 4G/5G telecom towers estimated to be Rs 42.50 crore; (iii) Incre-
mental working capital requirement of our Company estimated to be Rs 30 crore and balance amount
towards General Corporate purposes to be utilized in FY 2025.
The Company’s share price and Market Capitalization as on July 03, 2024 was Rs 265.70 and Rs
398.55 crore respectively. The Company’s share price touched 52 week high of Rs 332.05 on Febru-
ary 07, 2024.
Pantomath Capital Advisors Private Limited is the sole book running lead manager of the Issue.
The Company is ISO - 9001:2015, ISO 140001: 2015 and ISO 45001: 2018 certified Company.
The Company is registered as Infrastructure Provider Category-| (IP-l) with Department of Telecom-
munication (DOT) which permits the Company to lease out build sites i.e. GBT/RTT/Pole sites and
Out Door Small Cell (ODSC) and establish and maintain assets such as Dark Fibers, Right of Way,
Duct Space and Tower for the purpose to grant on lease or rent or sale basis to the telecom service
provider companies.
***
SAR Televenture Limited is a telecommunication infrastructure provider, engaged

primarily in the business of installing and commissioning telecom towers & FTTH in
India. The Company is engaged in the installation and commissioning of 4G and 5G
Towers, Optical Fibre Cable (OFC) Systems, and dealing in network equipment
Financial Weekly TM
Download our app

https://play.google.com/store/appsdetails?id=app.smartinvestment
Financial Weekly TM

VISHAL BALIYA
Smart School Article 79: Investing by looking at the index

(Index of the week: Pharma Index)
For the past few weeks we have been
trying to understand how to use the perfor-
mance of an index reflects in performance
of stocks that are constituents of that par-
ticular index and vice versa. By catching
the index that is on the verge of breaking
out or has broken out during the week, we
can plan our investment and trades around
it to maximize our returns. We spoke about
Bank Nifty, then IT Index. Both gave con-
siderable returns in the last 2 /3 weeks. The
index that look most interesting this week end is Pharma Index.
Pharma index has given a powerful breakout and has closed above very important fibonacci
resistance (20380) this week. The closing of Pharma index this week was 20453.85. The next 2
Fibonacci resistances for Nifty will be at 21013 and 21475. Supports for the Pharma index remain
at 19936 and 19397. 19397 is a mega support which has a combined power of Fibonacci, Mid-
channel and 50 days EMA.
The stocks that constitute the Pharma index are: Lupin, Dr.Reddy's Lab, Torrent Pharma, Alkem
Lab, Biocon, Divi's Lab, Sun Pharma, Cipla, Zydus Life and Aurobindo Pharma. Some Peripheral
Pharma stocks can also be looked at for investment purpose. We are not giving a buy or sell call on
any of these companies. This is just an educational article explaining the potential moves of Pharma
Index, how it can move in either direction and what can be the technical reasons behind the same.
Disclaimer : There is a chance of biases including confirmation bias, information bias, halo effect and anchoring bias in this
write-up. Investment in stocks, derivatives and mutual funds is subject to market risks, please consult your investment advisor
before taking financial decisions. The data, chart and other information provided above is for the purpose of analysis and is purely
educational in nature. The names of the stocks or index levels mentioned in the article are for the purpose of education and analysis
only. Purpose of this article is educational. Please do not consider this as a recommendation of any sorts.
Cont...
Financial Weekly TM

ServotechPower Systems • NSE Code : SERVOTECH • CMP : Rs 88.65
Leads Green Push with Solar-Powered
EV Charging Station in Delhi
Corporate SCAN
New Delhi, 04 July'24: Servotech Power Systems Ltd.(NSE: SERVOTECH), a leading manufac-
turer of EV chargers and solar solutions, in collaboration with India's apex solar organization, the Na-
tional Solar Energy Federation of India (NSEFI), has inaugurated Delhi's first grid-connected Solar-
Powered EV Charging Carport. This Solar-Powered EV Charging Carport, established as a pilot project
at the Hauz Khas Village parking station, marks a significant milestone in sustainable energy and
electric vehicle infrastructure. Servotech has manufactured, designed, and commissioned the solar
panels and EV chargers used to establish the carport. Additionally, Servotech has been responsible
for designing and implementing the overall infrastructure for the carport.
Dr. Philipp Ackermann, German Ambassador to India and Bhutan, was the chief guest at the event,
inaugurating the solar-powered EV charging station in the presence of Mr. Raman Bhatia (Founder and
MD, Servotech Power Systems Limited) Mr. Amarjeet Singh, (CEO, BSES Yamuna Power Limited)
Mr. Chintan Shah, (Principal Advisor, NSEFI) and Mr. Subrahmanyam Pulipaka, (CEO, NSEFI). This
initiative is a collaboration between the National Solar Energy Federation of India (NSEFI) and the
BundesverbandSolarwirtschaft E.V (BSW), in cooperation with BSES and the Municipal Corporation of
Delhi (MCD). The Solar-Powered EV Charging Carport was established under the KVP project frame-
work. The KVP project is supported by the German non-profit company Sequa GmbH, as part of the
Business Membership Organization Partnerships of the German Federal Ministry for Economic Coop-
eration and Development (BMZ). This PV Carport introduces a new business model for DISCOMs and
business operators aiming to replace last-mile delivery vehicles with an electric fleet. The system
enables fast charging for two and four-wheelers in under an hour, facilitating efficient delivery services
in inner-city and confined spaces.
On this occasion, Raman Bhatia, Founder and Managing director, Servotech Power Systems Ltd.
said "We are thrilled to inaugurate Delhi's first solar-powered EV charging carport along with NSEFI,
marking a significant step towards sustainable urban mobility for a greener future. The newly inaugu-
rated solar carport exemplifies our efforts to reduce carbon emissions and enhance living conditions
through sustainable technology. This initiative will prove to be beneficial in decarbonizing mobility and
electricity through solar energy. The growth of India's solar and energy storage sectors across various
fronts is dynamic, and by integrating renewable energy solutions into our infrastructure, we not only
address current environmental challenges but also pave the way for a cleaner, more sustainable future
for all. Servotech stands for innovation and is committed to leading the charge in sustainable energy
solutions, driving positive change for the environment and society."
Servotech Power Systemsis an NSE-listedorganization that develops tech-enabled EV Charging
solutions leveraging their over two decades of experience and expertise in the electronics space. The
company offers an extensive range of AC and DC chargers which are compatible with different EVs
and serve multiple applications such as commercial and domestic. With its comprehensive engineer-
ing capabilities, the company plans to play a pivotal role in developing India's EV tech infrastructure. A
trusted brand with a strong pan-India presence, Servotech Power Systems' legacy is marked by proven
innovation anddevelopment of the advanced technologies.
***
Financial Weekly TM

Equichain Wealth Advisors
Global Markets Nikunj Vithlani
U.S. Economic data will guide interest

rate cut in September Fed meeting?
Today we will be discussing U.S. economic data and focus on interest rate cut can be
expected in September FOMC meeting? Gold is back to $2400 and other key indicator such
as US 10-year bond yield & Dollar index seen some cool-off.
U.S. Economic data of this week

Date Description Actual Forecast Previous
MonJul 1 Final Manufacturing PMI 51.6 51.7 51.7
ISM Manufacturing PMI 48.5 49.2 48.7
ISM Manufacturing Prices 52.1 55.8 57
TueJul 2 Fed Chair Powell Speaks
JOLTS Job Openings 8.14M 7.96M 7.92M
WedJul 3 ADP Non-Farm Employment 150K 163K 157K
Unemployment Claims 238K 234K 234K
Final Services PMI 55.3 55 55.1
ISM Services PMI 48.8 52.6 53.8
FOMC Meeting Minutes
FriJul 5 Average Hourly Earnings m/m 0.30% 0.30% 0.40%
Non-Farm Employment Change 206K 191K 218K
Unemployment Rate 4.10% 4.00% 4.00%
This week key economic data which was released was JOLTS Jobs opening which came slightly
above estimate while ADP Non-farm employment change was week. ISM Services PMI also con-
tracted. Average hourly earnings remain stable while unemployment rate increased to 4.10%.
U.S. economic data remain mixed indicates stable economy as market participants will take cues
on interest rate cut.
Gold @ $2399 :- Gold was trading below $2350 last week and closed this week around $2400
on weak economic data giving boost to early rate cut by U.S. Fed. Geo-political situation remains
stable with no fresh news this week which could impact gold prices.
US 10-Year bond yield @ 4.278% :- Bond yield cooled-off as hope of September rate cut in-
crease on mix economic data. Next week economic data and U.S. CPI & Core CPI data will be
Cont...
Financial Weekly TM

important and provide fresh cues. However market participants are not expecting any change in
policy rates in next Fed meeting which is schedule on 31-Jul-24.
U.S. Economic data in focus - Next week
U.S. Economic data of this week

Date Description Actual Forecast Previous
TueJul 9 Fed Chair Powell Testifies
Treasury Sec Yellen Speaks
WedJul 10 Fed Chair Powell Testifies
10-y Bond Auction 4.44|2.7
ThuJul 11 Core CPI m/m 0.20% 0.20%
CPI m/m 0.10% 0.00%
CPI y/y 3.10% 3.30%
Unemployment Claims 236K 238K
30-y Bond Auction 4.40|2.5
FriJul 12 Core PPI m/m 0.10% 0.00%
PPI m/m 0.10% -0.20%
Prelim UoM Consumer Sentiment 67 68.2
Prelim UoM Inflation Expectations 3.00%
Next week will be important as we start next week with Fed chair Jerome Powell testimony and
treasury sec Janet Yellen also speaks on 9-Jul-24. U.S. CPI & Core CPI data released on 11-Jul-
24 and PPI & Core PPI data on 12-Jul-24.
U.S. Economic data to be released in next week will remain in focus.
Equichain Wealth Advisors: Market View & Opinion
When we look at U.S. economic data released this week and important event and economic
data due in next week, will provide cues on interest rate as Fed fund rate monitor tool now indicat-
ing 72.2% probability of rate cut in September 2024 FOMC meeting.
In last U.S. Fed meeting in June 2024, Fed chair Jerome Powell indicated only one rate cut in
2024 in later part of the year. Gold & Bond yield move is indicating some hope of interest rate cut
in September 2024 meeting and we see next week to be eventful and important for global asset
class and sentiment. We remain hopeful as early trends shows risk-on sentiment to be back.
Disclaimer &note: This is not recommendation to buy or sell and we are sharing our view
based on reason mentioned in this article.
Equichain Wealth Advisors - SEBI registration number (RIA): INA000016472
Telegram channel: https://t.me/Equichain
Nikunj Vithlani
Financial Weekly TM

BLS International Services Ltd. • BSE: 540073 NSE: BLS • CMP - Rs. 379
BLS International FZE's acquisition of iDATA Gets Turkish
Regulatory Nod, Expects to Complete the acquisition by July 20
Corporate SCAN
BLS International Services Ltd. (BLS), a leading global tech- enabled ser-
vices partner for governments and citizens, has announced that the necessary
approval from the Turkish Regulatory Authority, for the said acquisition, has now
been received. Accordingly, the acquisition of iData by BLS FZE and it's subsid-
iary is now expected to be completed by July 20, 2024.
In January 2024, the company had announced that it entered into a definitive Share Purchase Agree-
ment through its wholly owned subsidiary BLS International FZE, UAE, to acquire 100% stake in iData
Danismanlik Ve Hizmet Dis Ticaret Anonim Sirketi ("iDATA") and its wholly owned subsidiaries for an
Enterprise Value of Euro 50 Million (~ Rs. 450 Crores) and additional milestones based payments. iDATA,
a prominent player based in Turkey, specializes in Visa and Consular Services, making it a strategic addi-
tion to BLS's expanding portfolio.
Incorporated in Turkey, iDATA provides comprehensive visa applications and consular services to vari-
ous governments. The company currently operates more than 37 Visa Application Centres (VAC) across
15+ countries, serving diplomatic missions of Germany, Italy and the Czech Republic. Notably, iDATA has
been the exclusive provider of Visa & Consular Services to the Italy Diplomatic mission since 2006 and the
German Government since 2012 in certain geographies. As per the audited consolidated financials for the
calendar year 2022, iDATA achieved revenues of EURO 19.9 million (~Rs. 180 Crores) and EBITDA of
EURO 10.4 million (~Rs. 94 Crores).
The acquisition would be funded mainly through the company's internal accruals.
PricewaterhouseCoopers (PwC), Turkey and Lagrange Point Advisors LLP, Mumbai jointly acted as
transaction advisors to BLS on this transaction. Dentons Link Legal, India and Balcio?lu Selçuk Ardiyok
Keki Attorney Partnership (BASEAK), Turkey acted as legal advisors for the transaction.
Founded in 2005, BLS International Services Ltd. is a trusted global tech-enabled services partner for
governments and citizens, having an impeccable reputation for setting benchmarks in the domain of visa,
passport, consular, citizen, e-governance, attestation, biometric, e-visa and retail services.
The company is recognized as "India's Most Valuable Companies" by Business Today Magazine, "Best
under a Billion' Company" by Forbes Asia and ranked among "Fortune India's Next 500 companies". The
company is the second largest International Visa & Consular services provider and works with over 46
client governments, including Diplomatic Missions, Embassies and consulates, and leverages technology
and processes that ensure data security. The Company has an extensive network of centres globally, that
provide consular, biometrics, and citizen services. BLS has processed over 360 million applications to date
globally.
BLS International is certified with as CMMI DEV
L5 V2.0 & SVC L5 V2.0, ISO 9001:2015 for Qual-
ity Management Systems, ISO 27001:2013 for
Information Security Management Systems, ISO
14001:2015 for Environmental Management Sys-
tems, and more. BLS International is the only listed
company in this domain with operations in 66
countries.
BLS International Services Ltd. (NSE Symbol:
BLS, BSE Scrip Code: 540073, MSE Symbol:
BLS)
***
Financial Weekly TM

Future Options Diary
Nilesh Kotak (Ahmedabad)
As long as Nifty remains above 23900, the overall trend will remain positive.
BUY Momentum option buy

MOMENTUM CASH MARKET Nestle india limited (2560 )
Platinum industries ( 225) call option premium ( 50 )
25.07.2024 expiry
Buy range :215-218
Buy range :45-47
SL : 208
SL : 38
7 to 12 trading sessions
Target one :56 book 50%
Target one :230book 50%
Target two :61 balance 50 %
Target two :234 balance 50 %
Technical cash market buy Sell
Momentum index sell
Biocon ltd (370 )
Buy range : 364-365 ; SL : 353 ;
Nifty (24379) 29.07.2024 expiry
7 to 12 trading sessions Sellrange :24425-24450 ; SL : 24600
Target one :382 book 50% Target one :24200 book 50%
Target two :389 balance 50 % Target two :24100 balance 50 %
Momentum index buy Technical future sell

Ajanta pharma ltd (2267) Godrej consumer (1370)
29.07.2024 expiry 25.07.2024 expiry
Buy range :2250-2255 Sellrange :1380-1390
SL : 2210 SL : 2425
7 to 12 trading sessions 7 to 12 trading sessions
Target one :2325 book 50% Target one :1330 book 50%
Target two :2350 balance 50 % Target two :1310 balance 50 %
Momentum future buy Momentumput option

Apollo tyres ltd (527) Tata steel (175) Put option
25.07.2024 expiry price cmp (4.30)
Buy range :518-526 ; SL : 505 premium 25.07.2024 expiry
7 to 12 trading sessions Buy range :325-350 ; SL : 2
Target one :542 book 50% target one : 5.45 book 50%
Target two :548balance 50 % Target two :6.15 balance 50 %
In all the recommendations made by us, the first target is achieved.
And to a great extent, the second target is achieved. Investors should take note.
Financial Weekly TM

Corporate SCAN
Vishal Fabrics Ltd. Leading the Denim
Revolution with Top Quality Denim Fabrics
Vishal Fabrics Ltd. (BSE: 538598) is a premier supplier of top quality stretch denim fabric which
is very popular among people of all ages.
Earlier, Vishal Fabrics Ltd acquired a 37.72 per cent stake (1,170,500 shares at Rs 135 per
share) in Chiripal Textile Mills Pvt Ltd on March 30, 2024, for a total of Rs 158.02 crore. This
acquisition makes Chiripal Textile Mills an associate company of Vishal Fabrics. Chiripal Textile
Mills is a manufacturer and trader of various yarns and fabrics, with a turnover of Rs 539.03 crore
for the financial year ending March 31, 2023.
Vishal Fabrics Ltd, a textile company established in 1985 and part of the Ahmedabad-based
Chiripal Group, manufactures and distributes a wide range of fabrics including dyed yarn, denim,
and custom textile work. Certified for quality and sustainability, they specialize in dyeing, printing,
and processing denim and other fabrics for both their collections and client-specific jobs.
Their fabrics come in various compositions like 100 per cent cotton, cotton blends, and modal,
and they are a leading supplier of stretch denim. With a focus on innovation, they offer diverse
finishes, weaves, blends, and colours. Their extensive production capacity comes from multiple
facilities in Ahmedabad, Gujarat, and they boast an impressive list of clientele including well-known
international fashion brands.
Vishal Fabrics Limited is a premier supplier of top quality stretch denim fabric which is very
popular among people of all ages. VFL stands for a denim revolution, that brings equality back to
fashion, and change the market trend, forever. To engineer this goal, VFL is tirelessly working
towards an ecosystem where the stakeholders benefit and grow with the company. VFL intends to
grow with all, and grow for all. Since 3 decades, VFL's clear goal has been to deliver quality fabrics
that effortlessly match global standards. The company believes in innovation and technology, and
it is sure it will help it grow as one of India's leading dyeing, printing, and processing units.
Cont...
Financial Weekly TM

RemediumLifecare Ltd. Board to Consider
Rs. 200 Cr Fund Raise Through QIP
RemediumLifecare Ltd.(BSE: 539561), a company engaged in trading API intermediates (KSMs and
CRMs) and various other raw materials essential to API trading,has announced that its board will meet on
08 July 2024 to Consider and approve the proposal for fund raising through Qualified Institutional Placement
(QIP)to raise funds up toRs. 200 Cr by way of issuance of equity shares, convertible securities, or other
eligible instruments to Qualified Institutional Buyers (QIBs) to finance the acquisition of Good Manufacturing
Practices (GMP) assets in the Active Pharmaceutical Ingredients (API) and Intermediates space, as well
as the acquisition of technology, Intellectual Property (IP), including US Drug Master File (USDMF), Certifi-
cate of Suitability to the Monographs of the European Pharmacopoeia (CEP), tech packages, and other
assets.
Recently, the company has received a multi-year supply contract from Aster Biotech Ltd., a pharmaceu-
tical distribution company based in the United Kingdom. The contract involves the supply of various Active
Pharmaceutical Ingredients (APIs), Intermediates, and Specialty Chemicals. The supplies scheduled be-
tween July 2024 and June 2025 alone are valued at one hundred seventy-five crore rupees (Rs.
175,00,00,000/-).
Earlier, the companysetthe record date for the bonus issue of shares as 06 July 2024 (if approved by
shareholders in AGM). The boardhas recently approved and recommended a Bonus Issue of 3 Equity
Shares for every 1 Equity Share held as on the Record date decided for this purpose, subject to approval
from members and appropriate authorities.
RemediumLifecare Ltd., a company engaged in trading API intermediates (KSMs and CRMs) and vari-
ous other raw materials essential to API trading, has bolstered its performance and presence within the
pharmaceutical and healthcare domains by trading amino isophthalic acid, tellurium oxide, grignard reagent,
iodine, selenium metal powder, trimethylsulfoxonium iodide (TMSI). As a leading contract trader and brand
owner of advanced intermediates and APIs, Remedium has shifted its paradigm into the trading of interme-
diates and APIs.
Reflecting the ethos of its Chairman, who believes in "working hard in silence and letting success make
the noise," Remedium is dedicated to upholding uncompromising quality standards. Remedium has consis-
tently raised the industry's benchmarks through its commitment to developing intermediates (KSMs & CRMs)
and APIs that deliver unique value to patients and societies worldwide. Adapting swiftly to evolving de-
mands, the company has emerged as one of the fastest-growing organizations in the global pharmaceutical
industry.
"Quality is an ongoing process of building and sustaining relationships," is the firm belief at Remedium.
Its unwavering commitment to quality products is backed by a highly qualified team of professionals, a
cutting-edge infrastructure, and deep industry knowledge. Remedium strives to create mutually beneficial
partnerships, adhering to high-quality standards as a matter of habit rather than chance.
Remedium is passionate about excellence and strives to deliver products with 0% defects, earning trust
as a reliable source for quality pharmaceutical and healthcare products. It is committed to a rigorous prod-
uct development process that involves constant modernization and adherence to international standards,
since it has one of the largest portfolios of intermediates and active pharmaceutical ingredients (APIs),
responsible for the therapeutic effects of various medicines.
Financial Weekly TM

SMART BANKING & FINANCIAL SERVICES
By Dr. Vijaya Kittu M
Tracking the pulse of the Indian and Global Banking and Financial Services - so that the typical Indian Investor can benefit from it.His Ph.D. in Finance
thesis topic specialisesin Mutual funds. He is pursuing his second Ph.D. in Computer Science with a specialisation in blockchain.
HDFC BANK shares are receiving heat during the week after the bank reported its June
quarter business update. The loan and deposit growth numbers are slightly lower (flat) than in the
same quarters in the previous years. The bank reported an 11 percent year-on-year or flat sequen-
tial growth in its AUM. The Net of loan sell-downs, reported by gross loans,has declined 0.8 per-
cent sequentially. The YoY growth is at 10.8 percent YoY. Experts believe the loan mix is better
than in the past. The bank said that its average deposits grew a healthy 4.6% QoQ. The Average
AUM growth rate is at 0.8% QoQ. Reporting the shareholding pattern as of June 2024, FIIs holding
stands at 54.83% at the end of June 2024 (down from 55.54% at the end of March 2024)
HDFC BANK and a few other banks asked the RBI for a one-month extension for the BBPS
activation and to streamline credit card payments via third-party apps. Third-party apps such as
Cred, PhonePe, and Paytm are no longer allowed to make credit card bill payments because RBI
made it compulsory for the payments to be routed through the Bharat Bill Payment System (BBPS).
While 12 banks have activated the new payment system, a few other banks that do not have it yet
are routing the payments through IMPS, NEFT, and UPI.
HDFC BANK is considering selling a part of its loan portfolio, considering the increased
regulatory scrutiny. Street talk is that HDFC Bank is talking with public sector banks, NBFCs, in-
surance companies, and asset managers for the sale. It appears that the RBI is unhappy with the
bank's credit-to-deposit ratio. The banking industry's Credit-to-Deposit ratio stood at 80.3% as of
March 2024. Market experts believe that the Credit-to-Deposit ratio of HDFC Bank went up to
110% after the merger, hence the need to bring it down since sufficient time has passed.
POONAWALLA FINCORP has reported a 5% YoY growth in Q1 FY25 disbursements.

The disbursements in the June 2024 quarter are at Rs. 7,400 crores compared to Rs. 7,063 crores
in the same period last year.Its AUM grew by 52% YoY and stood at Rs. 26,970 crores as of June
30, 2024. GNPA and NNPA stood at 1% and 0.5% respectively. Operating expenses fell by 4% to
Rs. 196 crores, which helped the company. Liquidity stood at Rs. 5,200 crores.
LIC OF INDIA increased its stake in IDFC FIRST BANK by 0.2%. The stake now stands at
2.68%. The recent hike was because of a private placement where shares are offered at Rs. 80.63
per share. The total proceeds stood at Rs. 1,500 crores. IDFC First Bank wishes to use the money
raised on high-asset-quality growth opportunities.
Financial Weekly TM
Hard Copy is available on Every Sunday Morning at your nearest book-stall

City Agent’s Name Mobile No. Landline No.
Ahmedabad Pocket Book Centre 098240 77668 079-25508732
Vinod Agency 098982 18921 079-25510104
Mohsin Mansuri 098250 35928 079 - 25350794
Anand Mistry News Agency 098251 73432 02692 - 251032
Iliyas Book Stall 091733 95801
Akola Vishnu Book Seller 072424 39444
Baroda Shreenath News paper 098982 40228 9106956769
Bhuj Modern Book Centre 9427434752 --
Baroda A.G. Vora & Co. 098240 95716 --
Bhavnagar Prem News Agency 094289 90615
Bharuch Falgun News Agency 098792 37236
Gandhidham A.H. Pandya 098252 37212 02836-220212
Jodhpur Sarvoday Book Stall 8107589141 0291-26533734
Jamnagar Paras News Agency 9426453636 2679597
Mehsana Mahalaxmi Pustak Bhandar 098256 36988 9428458678
Prakash Book Stall 8849416545
Mumbai Ashokbhai 9833831803
Mumbai -Matunga Alengo Book Stall 9870277195 --
Navsari Jaydeep News Agency 098983 59235
Nadiad Nadiad Rly. Book Stall 087349 55156
Rajkot Thakkar News Aghency 099241 33518 0281-2233518
Surat Surat Book Centre 0 98790 44220 0261-2431158
Udaipur Kailash Book Center 098291 36695 0294-2561145
VAPI Om News Agency 099242 84109
Valsad Paresh News Agency 091733 59444
More detail about Subscription visit on our website

Financial Weekly TM

SMART
BUY OF THE WEEK
Dark Horse
Dark Horse-1
PEE CEE COSMA SOPE LTD
ONLY AT BSE CODE - 524136
BSE SYMBOL - PCCOSMA Rs.446 Face Value Rs.10
PEE CEE Cosma Sope Ltd is having brand like Doctor Soap. Doctor Soap has been a strong health
hygiene brand for past many years, changing target market dynamics, purchase pattern & more disposable
income which has facilitated Group's product extension into Detergent Powders, Detergent Cakes, Wash-
ing Powders. These products has been forecasted as of huge future potential, these products have been
designed and priced to maintain premium image of the brand & would also open opportunity to expand
distribution into semi-urban & urban market. Doctor Soap has to its credit a network of over 500 distributors
& 1.5 lacs retailers. In fact a very strong distribution system at its disposal in UP, Rajasthan, Gujarat,
Madhya Pradesh, Chattisgarh, Bihar, Jharkhand, Meghalaya, Assam and parts of West Bengal and Odhisa.
It has an equity base of just Rs.2.65 cr. that is supported by reserves of around Rs.37.64 cr. The
Promoters hold 73.08% while the investing public holds 26.92% stake in the company.
For Q4FY24 its PAT zoomed 87% to Rs.2.71 cr. from Rs.1.45 cr. During FY24, PAT grew 319% to
Rs.10.44 cr. from only Rs.2.49 cr. on higher sales of Rs.133.64 cr. fetching an EPS of Rs.39.50.
ROCE is 34.7% & ROE 29.6% looks quite impressive. Currently, the stock trades at a P/E of just
11.3x. Company paid 20% dividend for FY23 & declares 50% dividend for FY24, shows that manage-
ment are confident about company's bright future.
Based on the above financial and performance parameters, PEECOSMA share looks quite attractive at
the current level. Investors can watch a strict stop loss of Rs.403. The stock can give good returns in short
to medium term.
On 2nd October Mafatlal Ind. was given at Rs.141 hit Rs.221, a gain of 57%, on 23rd October,Techno
Ele. was given at Rs. 514 hit Rs.1590 a gain of 209%, on 12th November Morepen Laboratories was
given at Rs.36 touched Rs.60, a gain of 67%, on 7th January 24 Sika Interplant was given at Rs.1395
hit Rs.3548 a gain of 154%, on 15th January COMPETENT Auto was given at Rs.408 hit Rs.628 a
gain of 54%, on 4th March 24, HG Infra was given at Rs.899 hit Rs.1870, a very big gain of 108%, on
19th May Kabra Extrusiontechnik was given at Rs.381 hit Rs.447, on 9th June Bal Pharma was given
at Rs.114 hit Rs.125. Last week on 30th June Hindustan Adhesives was given at Rs.388 hit Rs.414.
It is better to book partial profit in 3-4 parts at every rise, where you are getting very good profit in
short term, because who manage fear & greed can create the wealth from market.
Cont...
Financial Weekly TM

Dark Horse-2
Ramky Infrastructure Limited
Bse code - 533262 & NSE SYMBOL - RAMKY Rs.618 FV Rs.10
Ramky Infrastructure Limited is a flagship company of Ramky Group, One of the emerging lead-
ers in the field of infrastructure development & environment management. Since the incorporation
of its business in 1994, the Company has proudly completed a wide range of construction and
infrastructure projects in various sectors such as water and wastewater, transportation (including
terminals), irrigation, industrial construction (including SEZs & industrial parks), power transmis-
sion and distribution, buildings (including residential, commercial & retail property).
The Company has equity of Rs.69.20 cr. backed by huge reserves of around Rs.1552 cr.
The promoters hold 69.81 & 96 HNIs hold 12.03% stake in the company. For Q4FY24, PAT
zoomed by 75% to Rs.84.17 cr. from Rs.48.21 cr. For FY24, PAT grew 68% to Rs.360.02 cr.
from Rs.214.47 cr. fetching an EPS of Rs.52. ROCE & ROE are 21.1% & 19.7% looks quite
impressive. Its 52 weeks high is Rs.1009.
Based on the above financial and performance parameters, the RAMKY share looks quite at-
tractive at the current level. Investors can watch RAMKY with a stop loss of Rs.565. The stock can
give good returns in short to medium term.
On 2nd October Mafatlal Ind. was given at Rs.141 hit Rs.221, a gain of 57%, on 23rd
October,Techno Ele. was given at Rs. 514 hit Rs.1590 a gain of 209%, on 12th November
Morepen Laboratories was given at Rs.36 touched Rs.60, a gain of 67%, on 7th January 24
Sika Interplant was given at Rs.1395 hit Rs.3548 a gain of 154%, on 15th January COMPE-
TENT Auto was given at Rs.408 hit Rs.628 a gain of 54%, on 4th March 24, HG Infra was
given at Rs.899 hit Rs.1870, a very big gain of 108%, on 19th May Kabra Extrusiontechnik
was given at Rs.381 hit Rs.447, on 9th June Bal Pharma was given at Rs.114 hit Rs.125. Last
week on 30th June Hindustan Adhesives was given at Rs.388 hit Rs.414. It is better to book
partial profit in 3-4 parts at every rise, where you are getting very good profit in short term,
because who manage fear & greed can create the wealth from market.
Financial Weekly TM

Standard Capital Markets Ltd • BSE: 511700 • CMP - Rs. 1.75
Board ApprovesRaising Rs. 401.50 Cr via NCDs
Corporate SCAN
Standard Capital Markets Ltd. (BSE: 511700), a
leading player in the financial services sector, has
announced that its board has approved the proposal
of fund raising. The board approved the issuance of
Secured, Unlisted, Unrated, Redeemable Non-convert-
ible Debentures ("NCDs") aggregating up to an amount
of INR 401.50 Cr in one or more tranches on a Pri-
vate Placement basis, in accordance with the provi-
sions of Companies Act, 2013 and applicable Regu-
lations.
Recently the company announced that it has in-
corporated a subsidiary under the name of "Standard
Insurance Broking Ltd." to act as a Direct broker un-
der the Insurance Regulatory and Development Au-
thority of India (Insurance Brokers) Regulations,
2018.NOC of Insurance Regulatory and Development
Authority of India already taken and now company
will also apply for taking Insurance Broking License of Insurance Regulatory and Development Authority of India
(IRDAI).
Through this strategic partnership, Standard Capital Markets Limited will leverage the fintech company's innova-
tive platform and expertise in student financing to offer competitive loan options tailored to the needs of students. The
loans will cover tuition fees, living expenses, and other educational costs, ensuring that financial constraints do not
hinder students from receiving a quality education.
Standard Capital Markets Limited is a leading player in the financial services sector.Embracing the uniqueness of
each client, the company consistently strives to deliver personalized, professional services. It upholds an unwaver-
ing commitment to every client while adhering rigorously to the best professional norms and practices, exuding
dynamism in every interaction. The company offers a diverse range of Personal Loans, ensuring not only competi-
tiveness but also flexible repayment terms. With their support, clients can confidently pursue their goals without
confusion or worry. For businesses seeking financial support, the company extends Business Loans with flexible
overdraft options.
The company empowers clients to stay ahead of the competition by providing prompt financial assistance, foster-
ing business growth with ease. The Flexi Overdraft feature simplifies cash flow management, allowing easy access
to funds as needed, and eliminating the complexities of traditional loan applications.
Upcoming products from Standard Capital Markets Limited include Fee Financing and Gold Loans. The Fee
Financing offerings cater to aspiring students and parents, simplifying educational expenses. The tech-driven plat-
form enables swift and effortless applications for fee financing, ensuring accessible and affordable education for all.
Simplified Gold Loans offered by the company provide an instant solution for urgent financial requirements, leverag-
ing gold holdings without delays or excessive paperwork.
The company is dedicated to nurturing a culture of learning and progress, reflected in its offerings of Educational
Loans. It is an upcoming product aimed at supporting aspiring learners in accessing quality education. With a focus
on flexible repayment options, the company alleviates financial constraints for students, enabling them to pursue
academic aspirations. Its financial assistance endeavors ensure academic pursuits are within reach, offering com-
petitive interest rates and streamlined online application processes.
In line with its commitment to empowerment, the company is working towards extending Agriculture Loans (up-
coming product), recognizing farmers as the cornerstone of the Agriculture Loan offering. Timely financial assistance
for various farming activities, including crop cultivation, equipment purchases, and farm modernization, among oth-
ers, underscores the company's dedication. The advanced loaning platform will ensure transparency and minimal
formalities, facilitating instant access to funds for all contributors to India's agrarian sector.
***
Financial Weekly TM

TECHNICAL TALK
Dhananjay Kadam - TECHNICAL ANALYST
Corrections are Temporary, Growth is Permanent

NIFTY (24323) :- From 21 December 2023 Nifty trading in the sideways zone it was trading
between 21000 to 21900 more than one month. it's trading in the sideways zone making new highs
but not settling above 21900. On 15 January it crossed 21900 making a new lifetime high but
second day it came down and from that date it's trading between uptrend parallel channel consoli-
dation zone 21000 to 23200.
Today on Friday Nifty opened gap down, covered good and closed with nominal gain. Because
of the Loksabha election exit poll and results Nifty moved abnormally in the starting days of last
month. NIFTY WAS TRADING AS PER OUR CHART IN UPTREND PARALLEL CHANNEL
CONSOLIDATION which was indicating it will go upside slowly with zig zag moves. Nifty made a
high of 23338 on news of exit Polls and next day came down 5.93% because of unexpected lok
sabha election results, from next day it covered well and again closed near all time high.
As per my prediction Nifty took support exactly near our bottom and again came upside. It was
trading between an uptrend parallel channel consolidation zone on 7th June 2024 crossed upper
trend line and given a good channel breakout. I wrote Nifty continuously trading above the uptrend
parallel channel and now will act as good support for Nifty. As per my prediction on 24th June Nifty
came down and took support on the upper trend line of UPTREND PARALLEL CHANNEL near
23340 and moved upside down and made a lifetime high of 2440. Nifty will achieve a target of
25000 soon. Next upside rally will come in Realty , railway defence , Infrastructure, steel, Chemi-
cal, Pharma, Paper, Defense, Power and energy sector so, find out stocks to trade from these
sectors.
Cont...
Financial Weekly TM

BANKNIFTY (52660) :- From 28 December 2024 BANKNIFTY started the downside
rally from 48636. BANKNIFTY made a low which was near to past support of 44500 After that it
started consolidation. On 4th April BANKNIFTY made a symmetrical triangle breakout. It was a
sign of an upside trend in Banknifty. From February 2024 BANKNIFTY is moving in UPTREND
PARALLEL CHANNEL CONSOLIDATION it's continuous taking resistance at upper line of
UPTREND PARALLEL CHANNEL and taking continuously support at lower line of UPTREND
PARALLEL CHANNEL. On 25 June 2024 Bank Nifty gave a good breakout to uptrend a parallel
channel and started to move upside. Today it closed with a loss of 0.83% and closed near support
of parallel channels. If it breaks support and closes below 52000 then 50000 possible next month.
We should wait for Monday closing to get the correct direction of Bank Nifty.
Aadhar Housing Finance (Rs 435.00) :- Aadhar Housing Finance Limited is one of
the largest low income housing finance companies in India servicing the home financing needs of
the law income sections of the society. Aadhar Endeavour to empower underserved millions to
own their first homes. Company's branches across 20 States help to reach more than 90% of the
country's population and provide credit solutions that make home ownership accessible to every-
one because every Indian deserves the security of a home. Company committed to save home
buyers from the low income group. After all, everyone deserves the security of home shopkeepers,
Blue Collar workers, police and defence personnel, Railway employees and the self-employed.
The company's financing process is simple and transparent and SPD committed to higher stan-
dards of ethical behaviour and professionalism. Company provides various types of loan for salary
Cont...
Financial Weekly TM
employees, for self employed, plot purchase and construction, improvement loan, extension
loan,loan against residential commercial property, balance transfer and top up loans, loan of non
residential property, home construction loan, loan for plot purchase, loan for construction of non
residential property.
On the daily price chart this stock made a good bullish price pattern that is pole and basin
pattern with good increased volume. As per this bullish price pattern the target of this stock will be
495-520. We can buy this stock with a daily closing basis stop loss of 412 for the time period of 17
days.
SKIPPER (Rs 385.00) :- Skipper Limited is an integrated transmission and distribution
structure manufacturing company with angle rolling tower accessories and fastener manufacturing
Cont...
Financial Weekly TM

and engineering procurement and construction line construction. The company operates through
three segments: engineering products, infrastructure products and polymer products. The infra-
structure project segment includes horizontal direct drilling services and engineering procurement
and construction services. The polymer products segment includes polyvinyl chloride, chlorinated
polyvinyl chloride and plasticized polytech vinyl chloride, solid waste and rain pipes and fittings
and other related products under the brand name of skipper. The company manufactures a range
of premium quality pipes and fittings. On the daily price chart this stock made a good bullish price
pattern that is pole and basin. As per this price pattern this stock showing good upside movement.
as per this bullish price pattern, the target of this talk will be 465. We can buy this stock with a daily
closing basis stop loss of 363. Time period for this target will be 19 days.
TEXMACO RAIL (Rs 273.00) :- This stock was recommended at 198 on 1st June 2024
also . Texmaco rail and engineering limited is a premier multi-discipline multi-unit engineering and
infrastructure company with 6 manufacturing units extending or 7.78 million square feet. Texmaco
rail and engineering limited is total rail solution provider being a life just exporter of wagons since
1965 it's qualifies with international standard with its capability to develop wagons for worldwide
gauges like meter, cape, standard etc. design facility with relevance software. Company exporting
railway wagons to Vietnam railway, fuel tank and container to Africa and Sri Lanka, tank wagons to
Bangladesh, Gondola wagons to Liberia. It has the largest single location manufacturing facility
with 20% market share being market leaders in wagons for bulk transport of Alumina, Ash, Ce-
ment, Coal, Steel coil container, car, petrol, LPG, food grain, defence , and various other applica-
tion and locomotive Shells. Since the inception in 1939 the journey of TEXMACO still foundry has
become a living example for amazing industrial evolution in the Indian country arena. The country
always remains the fittest to survive while passing through the various political tenure, socio-eco-
nomic environment and industrial roller coaster phases over the last eight decades and always
emerged as the leader in the sector. Company is also engaged in building railway bridges and
structures. On the daily price chart this stock made a good bullish price pattern that is append and
rounding bottom given good Breakout to rounding bottom in this week. As well as stock made a
good bullish flag. As per these price patterns stock showing more upside rally. As per this price
pattern target of this stock will be 310-325. We can buy this stock with a daily close basis stop loss
of 250 for the time frame of 16 days.
Financial Weekly TM

Terrific Shots - Dilip K. Shah
Raymond (Rs. 2940.00) (Code: 500330) :- The A group listed shares touched a 52-
week high of Rs. 3150 and low of Rs. 1487. It has a capacity of more than 38 million metres of wool
and wool-blended fabrics. It has a wide retail network and a 60% share in the suiting segment in
India. Raymond sells its products in 55 countries including the US, Canada, Japan, Europe and
the Middle East. Its equity is Rs. 66 crore and reserves of Rs. 4550 crore. Promoter holding in the
company is 49.15%. DIIs and FIIs own 5.5% and 17.76% shares respectively. The company's
market cap is Rs. 19,573 crore. The company is developing 3,100 residential units. It has been
performing well for some time. It registered income of Rs. 2688 crore and profit of Rs. 230 crore in
the March quarter.
FIEM Industries (Rs. 1355.00) (Code: 532768) :- Promoted by JK Jain in 1989, the
company was listed in 2006. It is a leading manufacturer of automotive lighting and signalling
equipment and rearview mirrors. It is the first Indian company to use LED lights in two-wheelers. It
has a diversified portfolio. The company is also entering indoor and outdoor applications and inte-
grated passenger information systems LED displays for buses and railways. Its key two-wheeler
clients include Honda, TVS, Yamaha, Suzuki, Eicher, Royal Enfield, Harley Davidson and four-
wheeler manufacturers such as Tata, Force Motors, Honda, Hyundai, Mahindra, etc. Its products
are exported to Japan, the US, the UK, Thailand, Indonesia, Germany, Italy and other countries.
For the March quarter, FIEM reported income of Rs. 2029 crore, net profit of Rs. 165.71 crore, and
EPS of Rs. 62.95. Its equity is Rs. 26.32 crore. Promoter holding is 66.56%. The company's re-
serves are 32 times its equity. The company has a track record of paying dividends regularly and
recently issued bonus shares in the 1:1 ratio. The shares can be bought with a target price of Rs.
1689 in 3-4 quarters with a stop-loss of Rs. 1077.
Linde India (Rs. 9014.00) (Code: 523457) :- The A group listed shares have a face
value of Rs. 10 and touched a 52-week high of Rs. 9909 and low of Rs. 4290. The company's
market cap is Rs. 76,875 crore. Promoter holding is 75%. Its equity is Rs. 85.29 crore and reserves
are Rs. 3349 crore. Its income in the March quarter was flat Rs. 630 crore, while profit went up from
Rs. 99 crore to Rs. 105 crore. Operating profit declined from Rs. 186 crore to Rs. 179 crore. EPS
was Rs. 12.36. For the whole year, sales stood at Rs. 2769 crore, operating profit was Rs. 702
crore, net profit was Rs. 434 crore, and EPS was Rs. 50.90. Linde Group operates in the industrial
Cont...
Financial Weekly TM

gases, engineering, and healthcare sectors. It is an MNC and was earlier known as BOC India. It is
a big name at the global level. Its monopoly business and MNC background are its key strengths.
DIIs and FIIs hold 7.45% and 2.31% shares respectively. The company's RoCE is 13.1% and RoI
is 17.6%.
Atul (Rs. 6754.00) (Code: 500027) :- The stock traded at Rs. 500 ten years back and
surged to Rs. 10,970, before falling to the current levels. The shares are listed in the A group.
Promoted by the Lalbhai Group, Atul has a presence in the chemicals and agrochemicals busi-
ness. Its plant is located at Atul near Valsad. Its equity is Rs. 29.68 crore and reserves Rs. 5085
crore. For the March quarter, its income went up from Rs. 1195 crore to Rs. 1212 crore, while profit
fell from Rs. 92 crore to Rs. 59 crore, while EPS was Rs. 19.84. For the whole year, income was
Rs. 4726 crore, net profit was Rs. 324 crore, and EPS was Rs. 109.71. The stock is trading at a PE
multiple of 61.6. Promoter holding is 45.17%. FIIs and DIIs hold 8.45% and 25.67% respectively.
The company's market cap is Rs. 19,880 crore. The shares touched a 52-week high of Rs. 7,587
and low of Rs. 5183. The company paid a 250% dividend for FY 2022, 325% for FY 2023, and
200% for FY 2024.
* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month • All stocks rates / indices on 5th July, 2024 unless
specified Stoploos is useful for Short - Medium term investors only
* Disclaimer :- • Smart Investment will not be responsible / for any loss arising out of investment based on its recommendation. • Though, every care has been taken,
we will not responsible for any errors / omissions • All disputes are subject to Ahmedabad jurisdiction
Buy... Buy... Buy on Dips Hold Sell on High

IDBI 84.00 Dabur 606.00 Ramco Cement 808.00
Kalyan Jewellers 495.00
UCO Bank 54.00 Delhivery 395.00 ONGC 288.00 JKTyre 456.00
Canarys Auto 64.00 IRCON 307.00 Bajaj Auto 9636.00 Polycab 6629.00
GPT Infra 157.00 TAC Infosec 551.00 Berger Paints 514.00
AU Small Bank 672.00
IEX 184.00 Dilip Buildcon 541.00 Pidilite 3098.00
Marico 615.00
Marksans Pharma 187.00 BEL 324.00 ACC 2669.00
Capitain Poly 58.00 Dynamic Pro 368.00 Tata Motors 993.00
Titan 3269.00
Basml 49.00 Coal India 491.00 HEG 2264.00 Indusind Bank 1434.00
GRM Overseas 194.00 Railtel 520.00 Gland Pharma 1841.00 Apollo Tyre 524.00
Restaurant Brand 113.00 Inox Wind 158.00 Cochin Ship 2835.00 Ceat 2693.00
Zomato 207.00 New India Ass 273.00
United Breweries 2070.00 Asian Paints 2935.00
AB Fashion 327.00
Financial Weekly TM

Stock Wave Sarvesh Ashok Trivedi
(Mumbai)
Key Support for Index by 79000 and

Nifty Future at 24100
BSE Index (79,996.60) : The index is moving upward from the bottom of 70,234.40. It shows an over-
bought position on a daily, weekly, and monthly basis. On the upward movement beyond 80,400, it could
potentially reach 80,800. On the downside, below 79,478, important supportat 79,000. The market now
requires caution.
Bank Nifty Future (52,710.35) : The index is moving upward from the bottom of 46,184.95. It shows an
overbought position on a daily, weekly, and monthly basis. On the upward movement beyond 53,301, it
could potentially reach 53,480, 53,800, and 54,150. On the downside, 52,300 and 52,100 are important
supports.
Nifty Future (24,389.90) : The index is moving upward from the bottom of 21,265.00. It shows an over-
bought position on a daily, weekly, and monthly basis. On the upward movement beyond 24,455, it could
potentially reach 24,490 and 24,650. On the downside, below24,240, important support at 24,100.
AU Small Finance Bank (672.25) : The stock is moving upward from the bottom of 638.50. It shows an
oversold position on a daily basis, overbought on a weekly basis, and neutral on a monthly basis. On the
upward movement beyond 684, it could potentially reach 703, 715, and 737. On the downside, below 659
important support at 652.
Hindustan Zinc (694.50) : The stock is moving upward from the bottom of 596.80. It shows a neutral
position on a daily basis, overbought to neutral on a weekly basis, and overbought on a monthly basis. On
the upward movement beyond 696 and 702, it could potentially reach 715, 727, 742, 745, 755, 761, 781,
795, and 807. On the downside, below675 important support at 668.
Infosys (1,641.10) : The stock is moving upward from the bottom of 1,358.35. It shows an overbought
position on a daily and weekly basis, and an overbought position on a monthly basis. On the upward move-
ment beyond 1,675, it could potentially reach 1,700, 1,721, 1,740, 1,765, and 1,785. On the downside,
below1,635 important support at 1,610. A board meeting is scheduled for July 18th.
Metropolis (2,050.00) : The stock is moving upward from the bottom of 1,798.05. It shows an over-
bought position on a daily and weekly basis, and an overbought position on a monthly basis. On the upward
movement beyond 2,095, it could potentially reach 2,120, 2,200, 2,290, and 2,375. On the downside, 2,000
is important support.
Wipro (534.90) : The stock is moving upward from the bottom of 417. It shows an overbought position on
a daily and weekly basis, and a neutral position on a monthly basis. On the upward movement beyond 537,
it could potentially reach 549, with 554 being an important level. On the downside, below 522 important
support at 514. A board meeting is scheduled for July 19th.
Disclosure : The Recommendations are based on technical analysis. There is a risk of loss in trading.
: Golden quotes :
When anger rises, think of the consequences
Financial Weekly TM

Dilip Davda
Expert’s Eye
Yet new milestones achieved in pre-budget rally!

Will it
Wh at n ext ? SUSTAIN or
REVERT ?
The Concluded week :- The week under report continued its northward march and posted
new set of milestones for intraday as well as close. Punters attribute it to the pre-budget rally move,
and may remain volatile till budget. Thereafter, it may get new direction to move either side. After
posting another ATH (All-Time-Highs) for intraday and close, markets surprised one and all as it
continued to move ahead after minor corrections. If shrewd observers are to be believed, markets
have now turned expensive and overdue for a sharp correction. And perhaps, the range-bound
move for the week indicates a cautious trade ahead.
For the week, while FIIs turned net buyers except for the first two sessions, DIIs were the net
sellers except for the first two sessions. So the week turned game plan of FIIs verses DIIs. RIL lead
the rally and got support from select pharma, IT, Banking, Infra, PSU counters.
During the week, while BSE Sensex posted intraday high of 80392.64 and closing high of
80049.67. NSE Nifty marked intraday high of 24401.00 and closing high of 24323.85.
As punters shifted to mid and small cap counters ahead of Q1 results season that it round the
EX-RIGHTS corner, market breadth remained positive for

EX-BONUS
Inventure Growth. Kaycee Ind. (4 for 1), entire week.
BONUS ANNOUNCEMENT Remedium Life (3 for 1)
During the week, BSE Sensex moved
GRP Ltd. (3 for 1),
Sprayking (1 for 1), RIGHTS ANNOUNCEMENT between 80392.665 - 78971.79, and NSE
Caspian Corporate (2 for 1), Sharat Ind. (13 for 20),
Suraj Ind. (7 for 30), Nifty hovered between 24401.00 - 23992.70.
Alphalogic Techsys (14 for 48)
Lesha Ind. (8 for 5) For the week while BSE Sensexmarked
BONUS MEET
Garment Mantra (08.07.24),
EX-SPLIT a net weekly GAINs of 963.87 points, NSE
and Indo Cotspin (12.07.24), Kaycee Ind. (10 for 1),
Nifty posted rise of 313.25 points.
Bigbloc Const (19.07.24) Remsons Ind. (5 for 1).
Benchmarks Movement during the week
DIVIDEND ANNOUNCEMENTS under report :-
ICICI Bank (500%), Nitta Gelatin (60%), VMS Ind. (5%), IDFC Ltd. (10%),
Berger Paints (350%), WPIL Ltd., (200%), etc. Cont...
Financial Weekly TM

Monday : For the first session of the week, we marked cautious but divergent flat opening
and as the day progressed, we marked recovery from the low of the day to close in green. BSE
Sensex scored 443.46 points to close at 79476.19, and NSE Nifty gained 131.35 points to end the
day at 24141.95. With Mid and Small cap indices outperforming benchmarks, market breadth re-
mained positive. FIIs were the net sellers, while DIIs were the net buyers for the day.
Tuesday : We marked gap up opening for the second session, that closed flat but in red after
moving both ways. BSE Sensex lost just 34.74 points to end the day at 79441.45, NSE Nifty posted
a mere deficit of 18.10 points to close at 24128.85. Though Mid cap index underperformed bench-
marks, firm trends in the side market kept market breadth in green. FIIs continued to be the net
sellers while DIIs remained net buyers for the day.
Wednesday : For the midweek session also we marked gap up opening and with both side
movement, markets closed with good gains. BSE Sensex scored 545.35 points to close at 79986.80.
and NSE Nifty gained 162.65 points to end the day at 24286.50. Mid and Small cap indices outper-
formed benchmarks and kept market breadth positive. FIIs turned net buyers and DIIs turned net
sellers for the day.
Thursday :Fourth session also opened higher and after moving both ways, closed with minor
gains. BSE Sensex gained mere 62.87 points to end the day at 80049.67 and NSE Nifty scored
just 15.65 points to close at 24302.15. Market breadth remained positive with Mid and Small cap
Nifty & Sensex Movement during the week

Sensex Open High Low Close Diff
01-07-2024 79,043.35 79,561.00 78,971.79 79,476.19 443.46
02-07-2024 79,840.37 79,855.87 79,231.11 79,441.45 -34.74
03-07-2024 80,013.77 80,074.30 79,754.95 79,986.80 545.35
04-07-2024 80,321.79 80,392.64 79,986.41 80,049.67 62.87
05-07-2024 79,778.98 80,149.87 79,478.96 79,996.60 -53.07
Net Weekly Gains 963.87
NSE - Nifty Open High Low Close Diff
01-Jul-24 23,992.95 24,164.00 23,992.70 24,141.95 131.35
02-Jul-24 24,228.75 24,236.35 24,056.40 24,123.85 -18.10
03-Jul-24 24,291.75 24,309.15 24,207.10 24,286.50 162.65
04-Jul-24 24,369.95 24,401.00 24,281.00 24,302.15 15.65
05-Jul-24 24,213.35 24,363.00 24,168.85 24,323.85 21.70
Net Weekly Gains 313.25
Cont...
Financial Weekly TM

indices outperforming benchmarks. FIIs remained net buyers and DIIs were the net sellers for the
day.
Friday :The final session of the week opened on a negative note and after moving both ways,
it closed with divergent trends. While BSE Sensex lost just 53.07 points to close at 79996.60, NSE
Nifty scored mere 21.70 points to end the day at 24323.85. Mid and Small cap indices outper-
formed benchmarks and kept market breadth positive. FIIs were the net buyers and DIIs were the
net sellers. According to seasoned observers, overheated market after posting new milestones
witnessed profit booking at higher levels.
The Ensuing week :- Brent Crude oil boiled further to end the week around 87.55$ a barrel and
Rupee remained range bound to close Rs. 83.48 a dollar by weekend. Market men has on radar
monsoon progress and the budget proposals which is scheduled for third week of the month. A
pre-budget rally is perhaps on and may continue for a while. We have 95+ corporate meetings in
the ensuing week amidst Q1 number season that will keep market on a stock specific mode as
usual.As markets have marked new milestones at expected level, it may start correction may be
around or post budget. So the order of the day will be to trade with caution.
Amidst such a scenario BSE Sensex may move in the rage of 81200 -
78800 and NSE Nifty in the range of 24900-23800.
DISCLAIMER : No financial information whatsoever published anywhere here should be construed as an

offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely
for educational and information purposes only and under no circumstances should be used for making invest-
ment decisions. Readers must consult a qualified financial advisor before making any actual investment deci-
sions, based on the information published here. Any reader taking decisions based on any information pub-
lished here does so entirely at its own risk. Investors should bear in mind that any investment in stock markets
is subject to unpredictable market-related risks. The above information is based on RHP and other documents
available as of date coupled with market perception. The author has no plans to invest in this offer.
(SEBI registered Research Analyst-Mumbai).
Financial Weekly TM

GRM Overseas Ltd BSE: 531449 • NSE: GRMOVER CMP - Rs. 195
Rs. 600 million Basmati rice order from
Yemen based Al-Naqeeb Group
Corporate SCAN
GRM Overseas, one of the leading Indian
basmati rice exporters and India's leading
food FMCG, has bagged a new order worth
Rs.600 million from Bin Awadh Alnaqeeb
Group from Yemen. As per the agreement,
GRM Overseas will ship Indian Basmati Rice
to Bin Awadh Alnaqeeb Group, is the largest
importer of Basmati Rice from India. The Rs.
600 million order is the biggest order the com-
pany has received from the Yemen-based im-
porter distributor till date.
Commenting on the new order, Atul Garg,
Chairman & MD, GRM Overseas said, "The
continuous flow of orders with growing value
from Bin Awadh Alnaqeeb General Trading
Corp underlines the trust we command in the
overseas market. The Middle East is a key
market for us and the order from Yemen will further strengthen our revenue from this region."
Earlier, the company announced that its board approved the proposal of raising funds by way of
preferential issue of convertible share warrants to the person belonging to the promoter/ promoter
group/ Non-promoter group category subject to such regulatory/statutory approvals as may be re-
quired and the approval of shareholders of the company. The company will issue the warrants at Rs.
146 per warrant, aggregating up to a total of Rs. 136.50 Crores.
From humble inception in 1974 to redefining itself in the form of GRM, the Company has travelled a
long way since then. Initially set up as a rice processing and trading house, it is growing to become a
consumer staples organisation. During the initial years, GRM exported rice to the Middle East, the
United Kingdom, and the United States. Gradually expanding its reach, GRM has developed a market
for its rice in 42 countries, thereby achieving the title of being among the top 5 Rice Exporters in India.
GRM has three rice processing units with an overall annual production capacity of 4,40,800 MT based
out of Panipat (Haryana), Naultha (Haryana) and Gandhidham (Gujarat). Additionally, the Company
has a warehousing facility of 1.75 Lakhs sq ft space adjacent to the Gandhidham plant facilitating
speedy shipments from Kandla and Mundra ports.
GRM sells products under its brands, namely "10X", "Himalaya River" & "Tanoush," and also sells
through private label arrangements under customers' brands. GRM has endeavoured to reach con-
sumers directly with its brands and products in recent years. By placing its products on the shelves of
several major retailers in India and abroad, GRM has ensured that the end consumer always has easy
access to their high-quality products. The Company aims to deliver the best quality products to cus-
tomers with stringent and proactive quality control procedures in place, according to international re-
quirements.
***
Financial Weekly TM

Dr. A. K. Asnani
Smart Verc (Bhopal)
Author of Book
Way to Billionaire
Stock Analysis: Sanghvi Movers

Company :Sanghvi Movers
This Pune based company was incorporated in 1989 and went NSE Symbol : SANGHVIMOV
BSE Ticker : 530073
through an IPO in 1994. CMP (Rs) : 1121
Perceived Risk: Medium
Sanghvi Movers Limited (SML) is the largest crane rental company in Market Cap. : Rs 4855 Cr
FV (Rs) : Rs 2/-
India and Asia, and the sixth-largest in the world as ranked by Interna- Book Value : Rs 233
Stock category : Growth
tional Cranes (June 2023). Promoter Stake: 47.25%
The Company has a fleet of 340+ medium to large-sized heavy-duty BSE Group : B
telescopic and crawler cranes ranging from 20 to 1000 MT across 130+ operational job sites in
India.
SML also has a huge fleet of High Bed Trailers and multi-axle lines which are used for the
movement of its crane & crane parts from one location to another.
The company's fleet is primarily caters to the construction of various industrial plants like Power,
Steel, Cement, Fertilizers, Petrochemicals & Refineries, Metros (underground as well as elevated)
and Windmill sector.
Financial Highlights
03/'20 03/'21 03/'22 03/'23 03/'24
Revenue 322.87 223.89 335.26 455.78 618.54
Other Income 3.33 29.14 36.99 29.77 28.17
Interest -41.03 -26.30 -17.31 -16.65 -24.95
Depre. -140.38 -122.10 -118.12 -121.07 -131.84
Tax 14.75 9.53 -10.07 -36.86 -64.46
Net Profit -6.60 -22.42 29.43 112.04 187.94
Equity Capital 8.66 8.66 8.66 8.66 8.66
EPS -1.53 -5.18 6.80 25.88 11.03
CEPS 30.90 23.03 34.08 53.85 43.42
OPM% 49.57 52.01 52.17 62.88 66.15
NPM% -2.05 -10.02 8.78 24.58 30.38
Dividend Nil Nil 50% 200% 300%
Cont...
Financial Weekly TM

The company has a PAN India presence with its Depot network spread across all over India in
more than 10 states.
Clientele include names like L&T, Dalmia Bharat, Sembcorp, Indian Oil Corp., ITD Cementa-
tion, GNFC, Ambuja Cement, Jindal Steel and Power, Shree Cement, Tata Steel, Thermax, etc.
The company is diversifying to evolve as an engineering solution partner. It shall offer engineer-
ing, designing and execution services to various infrastructure and core sector projects.
Valuations :- The company Board has approved the proposal to increase Authorised Capital of
the Company from existing Rs 10 crores to Rs 25 crores. Also it has proposed stock split from
present Rs 2 each share to Rs 1 each share.
Its capex for FY21 stood at only Rs 1 crore, which increased to Rs 111 crores in FY22 and
which further increased to Rs 162 crores in FY23 and Rs 334 crores in FY24. This shows the rising
demand for the services it provides and confidence of the management in promising future.
Its order book was Rs 236 crores as on 4 May 2022, which has increased to Rs 299 crores as on
4 May 2023 and further to Rs 426 crores as on 14April 2024.
On year-on-year basis Debt/Equity ratio is steadily under decline from 0.69 for FY18 to 0.61 for
FY19 to 0.43 for FY20 to 0.28 for FY21 to 0.23 for FY22 and to 0.19 for FY23. Net Debt/Equity ratio
as on 31 Mar 2024 is reasonably under control at 0.28.As on 31Mar 2024 it had a debt of Rs 287
crores.
Average receivable days came down steadily from 116 days in FY22 to 99 days in FY23 to 95
days in FY24.
EPS for FY24 was Rs 43.42. Fast growing order book, added with the benefits of growing capex
and all the user sectors doing well we are projecting a Revenue and Net profit growth of 20% and
30% respectively upto FY27.
Stock is trading at a PEG ratio (PE to EPS growth) of 0.86.
Stock is regularly traded on BSE and NSE with average consolidated volumes of close to 3,00,000
shares daily.
The above is only an Analysis and should not be construed as a call to buy/sell the stock.
Disclosure : Author is a research analyst and has recommended the stock in the past to his
clients.
Dr. Anil Kumar Asnani
SEBI Reg. Research Analyst
Financial Weekly TM

Kishore Purswani
Buffettology-XVI
(How to Identify the Excellent Businesses)
Introduction
Mary Buffet and David Clark in Chapter fifteen of their book titled "Buffettology: The Previously
Unexplained Techniques That Have Made Warren Buffett the World's Most Famous Investor" have
deliberated upon how to identify the excellent businesses that have been key to Warren's Good
Fortune.
Excellent Businesses
The term "excellent businesses" refers to companies that consistently perform at a high level
across various aspects of their operations and interactions. These businesses are distinguished
by their ability to achieve sustained success, growth, and positive impact.Warren Buffetthas a unique
and insightful perspective on what constitutes an excellent business. His criteria often focus on
long-term sustainability, strong fundamentals, and ethical management.
Consumer Monopoly& How to Look for Such Businesses

A consumer monopoly, often referred to as a "consumer monopoly business," is a type of com-
pany that dominates its market to the extent that it faces little to no competition from other firms.
This dominance allows it to set prices and control market conditions more effectively than in a
highly competitive market. Buffett emphasizes the importance of a company having a sustainable
competitive advantage (commonly referred to as consumer monopoly) that protects it from com-
petitors. This could be in the form of brand strength, patents, cost advantages, network effects, or
high customer loyalty.
Lawrence N. Bloomberg (an enterprising student at John Hopkins'sUniversity in 1938) in his
doctoral dissertation, titled "The Investment Value of Goodwill," explored the concept of goodwill
in the context of financial investment.The dissertation examines the investment value of goodwill,
Cont...
Financial Weekly TM

a significant yet often intangible asset on company balance sheets. He wrote that though goodwill
is a state of mind it adheres to the company because of some distinctive attributes that are particu-
larly attractive to buyers, who then form an attachment to a company and the products it sells.
Warren has developed a conceptual test to the presence of such a consumer monopoly. He
likes to ask a basic question: If he had access to billions of dollars and his pick of the top fifty
mangers in the country, could he start a business and successfully compete with the business in
question?
If the answer is an emphatic no then the company in question is protected by some kind of
strong consumer monopoly.
Characteristics of Consumer Monopoly Businesses

Some the characteristics of consumer monopoly businesses are as follows
" Government Backing: State-owned businesses have significant government backing, en-
suring their dominance and stability.e.g. IRCTC, HAL, Coal India, etc.
" High Barriers to Entry: These businesses operate in sectors with high initial costs, regula-
tory requirements, or other significant barriers that prevent new entrants from competing effec-
tively. e.g. Microsoft Windows
" Extensive Networks: They often have extensive distribution networks, making it challeng-
ing for competitors to match their reach and service levels. e.g. Coca Cola.
" Brand Loyalty: Companies establish strong brand loyalty, making consumers less likely to
switch to alternative providers. e.g. Apple products
In addition companies that benefit from consumer monopolies, because of their large cash flows,
are often nearly debt free.
Conclusion :- Consumer monopoly businesses offer unique products and enjoy strong
market positions, allowing them to command higher prices and maintain high customer loyalty. In
contrast, commodity businesses operate in highly competitive markets where products are undif-
ferentiated, leading to lower pricing power and thinner margins. Understanding these differences
can help in making informed investment decisions.
Happy Investing! : Kishore Purswani

Financial Weekly TM

Scrip Watch - Siddharth Shah
VST Industries (Rs 4098.00) : VST Industries is into the manufacturing and marketing
of cigarettes. They also trade in unmanufactured tobacco. Ace investor and DMart founder bought
an additional 1.51% stake in the cigarette maker for a total amount of Rs 86.26 crore in April this
year. He bought 2.33 lakh shares in the company at Rs 3,689.96 per share. With the latest pur-
chase, Radhakishan Damani's stake has increased to 34.4%. Damani holds a stake in the com-
pany through two entities – Derive Trading and Resorts Pvt Ltd and Bright Star Investments Pvt
Ltd. VST Industries Ltd (the erstwhile Vazir Sultan Tobacco Company) was incorporated in No-
vember 10th 1930 at Hyderabad AP. The Company is an associate undertaking of British Ameri-
can Tobacco Plc. the global leader in cigarettes. It has 2 manufacturing facilities in Hyderabad and
Toopran and 6 Regional offices in Hyderabad Mumbai Delhi Kolkata Chennai and Guwahati. It is
presently engaged in manufacture and trading of Cigarettes containing Tobacco and Tobacco
products. Buy.
United Breweries (Rs 2070.00) :- Bengaluru-based United Breweries (UBL), makers

of Kingfisher beer, is eying strong growth in the premium beer segment, driven by changing con-
sumer preferences towards premiumisation. Two years ago, the company introduced Heineken
Silver, a premium lager variant, catering to those who prefer more “sessionable” beer. This refers
to those with a lower-than-average percentage of alcohol. United Breweries Limited (UBL), a part
of the HEINEKEN Company, recently, introduced Queenfisher Beer: The Queen of Good Times,
from the House of Kingfisher, in Assam and Meghalaya. Initially launched on March 11 in Goa, the
beer garnered significant interest from the public. UBL identified increasing beer demand, driven
by growing affluence in India's booming economy, as a key growth driver for the company. Beer is
today the fastest-growing large beverage category. The stock is poised for more upmove. Buy.
Coforge (Rs 5862.00) :- Digital services and solutions provider Coforge Ltd said on
Friday (July 5) that it has increased its stake in Cigniti Technologies Ltd. Coforge by acquiring
4,618,199 equity shares, representing 16.92% of Cgniti's current paid-up share capital and 16.76%
of the expanded capital. With this acquisition, Coforge now holds 7,639,492 equity shares, ac-
counting for 27.98% of Cigniti's current paid-up share capital and 27.73% of its expanded capital.
Cigniti Technologies, incorporated on September 3, 1998, provides engineering services and has
a presence in the USA, the UK, Australia, Canada, the Czech Republic, South Africa, and Singapore,
supported by a delivery centre in India. For the fiscal year 2023-24, Cigniti reported a turnover of
814.47 crore and a profit after tax of ?94.79 crore. Buy.
Disclosures : At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm,
his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested
interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based
on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible
for any legal or financial losses made by anybody.
Financial Weekly TM

Market Tips - Het Zaveri
Tata Communications (Rs 1888.00) : Tata Communications has raised a $250 mil-
lion sustainability-linked loan (SLL) from ANZ, DBS Bank, and Export Development Canada (EDC)
for a period of 5 years to achieve carbon emission reduction targets, which are key for its long-term
sustainability performance. ANZ acted as the lead sustainability coordinator for the loan, while
DBS Bank and EDC were the joint sustainability coordinators. The transaction is the first SLL by
Tata Communications under the company’s new SLL framework. Through the framework, the com-
pany intends to link its funding with key objectives such as carbon emission reduction targets (non-
financial covenants) that are core and material for the company’s long-term sustainability perfor-
mance. The interest rate margin of the loan will be adjusted up or down in accordance with the
progress that the company will achieve on its carbon emission reduction targets.Such short-term
targets, creating a link between the cost of banking facilities and progress achieved on key envi-
ronmental milestones, are consistent with the company’s longer-term ambition to be net zero across
its global operations by 2035. Buy.
Bajaj Auto (Rs 9636.00) : Bajaj Auto has launched the world's first CNG-powered motor-
bike, named Bajaj Freedom 125. This bike runs on petrol but can switch to Compressed Natural
Gas (CNG) with the press of a button. While CNG-powered cars have been around for over a
decade, this is the first motorcycle to use this technology, not just in India but globally. The price of
the bike starts at Rs 95,000 for the base 'Drum' variant. The introduction of the Bajaj Freedom 125
could significantly influence the two-wheeler market. CNG technology offers the potential to re-
duce fuel costs and lower emissions, both critical factors for Indian two-wheeler owners. The bike
has a relatively small petrol tank capacity of just two litres, likely serving as a reserve fuel. Reports
suggest the Bajaj Freedom 125 offers a mileage of 213 kilometers per kilo of CNG, making it a
highly efficient option for commuters.It is expected that this bike will increase sales for the com-
pany. Buy.
Solar Industries (Rs 12177.00) : Economic Explosives Ltd, a subsidiary of Solar In-
dustries, has developed a new explosive named SEBEX 2 that can double the lethality of existing
warheads and bombs. Developed under the Make in India initiative, this explosive ranks among
the most powerful conventional explosives globally. The performance of explosives is measured
by their trinitrotoluene (TNT) equivalence, with higher values indicating greater lethality. Currently,
the most potent conventional explosive used in India, particularly in the Brahmos warhead, has a
TNT equivalence of around 1.50. In comparison, most conventional warheads worldwide range
from 1.25 to 1.30 in TNT equivalence. However, SEBEX 2 boasts an impressive TNT equivalence
of 2.01—quite remarkable. Shares of Solar Industries have reached an all-time high, achieving a
market capitalisation of ?1 lakh crore on July 2. Solar Industries had an order book worth ?5,129
crore and a sales volume of 5.5 lakh MT. Buy on every decline.
Financial Weekly TM

SMART TIPS Smita N. Zaveri
NHPC (Rs 103.00) (Code : 533098) :- NHPC limited is an A /T+1 - group Power
Sector Company having Face value of Rs10.00, 52 Week High 117.80 and 52 Week Low of 44.87.
NHPC is involved across the entire chain of hydro power project development - from concept to
commissioning. As on March 2024, it has7144 MW installed capacity (6971 MW Hydro & 173 MW
Renewable Energy) through 26 power stations. NHPC Contribution is 15% of all India Installed
Hydro Power. For the development of solar projects, it has submitted PFR of Indirasagar-
Omkareshwar, 525 megawatts; Tekwa-2, 800 megawatts; and Satpura-2, 1,500megawatt pumped
storage projects situated in the state of Madhya Pradesh. Further, PFR of Savitri Pumped Storage
Project 1,800 megawatt and Kengadi PSP, 600 megawatts situated in Maharashtra have also
been submitted. In FY23 company's Promoters, FIIs, DIIs, Public and Others holding were 67.4%,
6.8%, 12.59% and 13.22% respectively. Recently it has received Letter of Intent for setting up of
200-megawatt Grid Connected Solar Photovoltaic Power Projects located in GSEC's Renewable
Energy Park (Stage-III) at Khavda, Gujarat at the rate of Rs. 2.66 per unit through Tariff-based
competitive bidding from Gujarat Urja Vikas Nigam Limited. It has incurred capex of Rs. 8,652
Crore during FY-24, as against target capexof Rs.10,857 Crore on consolidated basis. In FY-25 it
plans capex of Rs.11,761 Crore. Its P/E ratio was 27.89x, EPS was Rs.3.61, Dividend Yield was
1.84%, ROE was 10.16%, BVPS was 40.80, Market cap was Rs.11,880 cr. and P/B ratio was
2.61x in FY24.Company's Net Sales was at Rs 1,888.14 crore in March 2024 down 6.93% from
Rs. 2,028.77 crore in March 2023.Quarterly Net Profit at Rs. 549.81 crore in March 2024 down
14.55% from Rs. 643.40 crore in March 2023. EBITDA stands at Rs. 1,317.48 crore in March 2024
up 19.95% from Rs. 1,098.32 crore in March 2023.As on March 2024; it has 13 projects (Hydro &
Solar) with a capacity of 10402MW under construction. It has 6 projects with a capacity of 3412
MW under clearance and 4 projects with 4110 MW under Survey & Investigation. The company is
also exploring to develop some of the solar projects in the states of Andhra Pradesh, Odisha,
Jharkhand, Madhya Pradesh, Gujarat, Tripura, Punjab and Maharashtra with total indicative ca-
pacity of approx 20,000megawatt.NHPC aims to be a 23 GW company by 2032 (by adding 16 GW
of renewableenergy in the next 10 years) and a 50 GW company by 2047 (by adding 43 GWof
renewable energy in the next 25 years). It plans to undertake investmentsof Rs 80,000 crore by
2032 and Rs 3,60,000 crore by 2047.The company has strong position in the Indian hydro power
segment with 15%market share. Its huge capacity addition plan indicates robust growth visibility.
Itsventure into renewable energy projects such as solar, wind and green hydrogenprojects also
auger well for the company. Thus, it is expected that the stock will seea price target of Rs. 122 in 8
to 10 months' time frame on a target P/BVx of 3.00xand FY25 BVPS of Rs. 40.80.
Vedanta (Rs. 468.00) (Code: 500295) :- The shares of this diversified metals com-
pany are listed in the A group and have a face value of Re. 1. The shares touched a 52-week high
of Rs. 506 and low of Rs. 207. Its plants are located at Jharsuguda in Odisha and Barmer in
Rajasthan. Its 1.8 million tonnes capacity plant at Jharsuguda is the world’s largest smelter plant at
Financial Weekly TM

a single location. The Dariba smelting complex has a zinc smelting capacity of 2,40,000 tonnes
and a lead smelting capacity of 12,000 tonnes. Its iron ore mining capacity is 70 lakh tonnes. Its
Barmer plant is also among the largest globally. Promoter holding is 61.95%. Its equity is Rs. 374
crore and reserves are Rs. 30,350 crore. For the March quarter, its income fell from Rs. 38,635
crore to Rs. 36,093 crore, and profit from Rs. 3132 crore to Rs. 2,273 crore.
ITD Cementation (Rs. 487.00) (Code: 509496) :- The shares of this leading
infrastructure development company are listed in the B group and have a face value of Re. 1. The
shares touched a 52-week high of Rs. 589 and a low of Rs. 160. The company mainly operates in
the heavy civil, infrastructure and EPC business. It builds marine structures, mass rapid transit
systems, airports, hydroelectric projects, tunnels, dams, irrigation projects, bridges, highways,
flyovers, etc. Its equity is Rs. 17 crore and reserves are Rs. 1476 crore. Foreign promoters own
46.64% shares in the company. FIIs and DIIs own 12.23% and 5.07% shares respectively. Its mar-
ket cap is Rs. 8371 crore. For the March quarter, the company’s income went up from Rs. 1638
crore to Rs. 2279 crore, and profit from Rs. 44 crore to Rs. 89 crore. The company’s promoter Italian
Thai Development (ITD) is in the early stages of divesting its stake. The company has orders of Rs.
20,000 crore. The stock is a buy on dips.
City Union Bank (Rs. 172.00) (Code: 532210) :- The shares of this private bank
are listed in the A group and have a face value of Re. 1. The shares touched a 52-week high of Rs.
174 and low of Rs. 120. The shares jumped after the bank’s executive president R Vijay Anand
was appointed as the whole-time director. For 2024-25, the bank’s net profit is expected to rise
from Rs. 1015 crore to Rs. 1077 crore. Advances are projected to grow by 10%, while the bank’s
net profit margin is seen at 3.3%. Its equity is Rs. 74 crore and reserves are Rs. 8327 crore. For the
March quarter, its income went up from Rs. 1423 crore to Rs. 1549 crore, and net profit from Rs.
218 crore to Rs. 254 crore. EPS is expected to go up from Rs. 13.70 to Rs. 14.50.
Ujjivan SFB (Rs. 44.00) (Code: 542904) :- The shares of this A group listed com-
pany touched a 52-week high of Rs. 62 and low of Rs. 40. By 2025-26, the bank aims to grow its
secured portfolio to 40%. It also aims to achieve a CASA ratio of 30% and an ROE of around 20%.
Like AU Small Finance Bank, Ujjivan Small Finance Bank is also eligible to apply for the universal
banking license from RBI. It plans to apply for the license in the next 12 months. The bank has set
up an independent team for the same. It has appointed Sanjeev Nautical, former deputy MD of SBI,
as its MD and CEO. Its equity is Rs. 1931 crore and reserves are Rs. 3609 crore. For the March
quarter, Ujjivan SFB registered income of Rs. 1764 crore and net profit of Rs. 329 crore.
* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month • All
stocks rates / indices on 5th July, 2024 unless specified Stoploos is useful for Short - Medium term investors only
* Disclaimer :- • Smart Investment will not be responsible / for any loss arising out of investment based on its
recommendation. • Though, every care has been taken, we will not responsible for any errors / omissions • All disputes
are subject to Ahmedabad jurisdiction
Financial Weekly TM

Smart super duper - Het Zaveri
IREDA (Rs 228.00) (Code: 544026) :- This PSU company launched an IPO in No-
vember 2023 at Rs 32 per share and soon after provided bumper returns to investors. This com-
pany primarily finances the renewable energy segment. Listed in the B group on BSE, the face
value of the company's shares is Rs 10. Post-listing, the share price peaked at Rs 231.95 and
dipped to Rs 49.99. At the current price, the company's market cap is Rs 61,415 crore. The promot-
ers hold 75% stake, FIIs 1.36%, DIIs 0.94%, and the public 22.70%. The company's equity is Rs
2,688 crore against reserves of Rs 5,872 crore. In the March quarter, the company's results were
strong with revenue rising from Rs 1,036 crore to Rs 1,391 crore and profit increasing from Rs 254
crore to Rs 337 crore. The company achieved an EPS of Rs 1.26 in the March quarter. For the
financial year 2024, the company's revenue increased from Rs 3,483 crore to Rs 4,965 crore, and
profit rose from Rs 865 crore to Rs 1,252 crore. The company achieved an EPS of Rs 4.66 for the
financial year 2024. The company's ROI is 17.3%, while ROCE is 9.30%. The book value is Rs
31.8 and the PE ratio is 49.1. Although the PE is high, considering the company's growth and the
flavor of PSU stocks, investment in the stock is advisable.
Coal India (Rs 491.00) (Code: 533278) :- Holding the status of a Maharatna, Coal
India is the world's single largest coal producer. The company's equity is Rs 6,162.73 crore with
massive reserves of Rs 63,523 crore. The company is almost debt-free. The promoters, i.e., the
Government of India, hold 66.13% stake, and the public holds 33.87%. In the March quarter, the
company's revenue declined from Rs 38,152 crore to Rs 37,410 crore, while profit increased from
Rs 6,869 crore to Rs 8,640 crore. The company achieved an EPS of Rs 14.09 in the March quarter.
For the financial year 2024, the company's revenue increased from Rs 1,38,252 crore to Rs 1,42,324
crore, and net profit rose from Rs 28,125 crore to Rs 37,369 crore. Listed in the A group on BSE, the
face value of the company's shares is Rs 10. During the year, the share price peaked at Rs 527.20
and dipped to Rs 226.10. At the current price, the company's market cap is Rs 3,03,052 crore. For
the financial year 2022, the company paid an interim dividend of Rs 14 per share (140%) and for
the financial year 2023, a total dividend of Rs 24.25 per share (242.5%). For the financial year
2024, the company paid an interim dividend of Rs 20.50 and declared a final dividend of 50%. The
company is also trying to enter other segments besides coal, leading to a re-rating of the stock. The
stock remains bullish, and investment is advisable on any dips. The company's ROI is 53.4%.
Emami (Rs 724.00) (Code: 531162) :- Emami Limited is active in the personal care,
health care, and beauty products segment with a portfolio of over 300 products. Listed in the A
group on BSE, the face value of the company's shares is Rs 1. During the year, the share price
Cont...
Financial Weekly TM

peaked at Rs 775.3 and dipped to Rs 409.8. The company produces over 300 products including
Boro Plus, Himani Navratna, Zandu Balm, Fair and Handsome, Emami Mentho Plus, Himani Fast
Relief, Zandu Sona Chandi Chyawanprash, Zandu Kesari Jivan, Emami Vasocare, among others.
The company's equity is Rs 44 crore against reserves of Rs 2,403 crore. Promoters hold 54.84%
stake, and the public holds 45.16%, with FIIs holding 13.46% and DIIs holding 22.06%. In the
March quarter, the company's revenue increased from Rs 836 crore to Rs 891 crore, while profit
rose from Rs 142 crore to Rs 147 crore. Operating profit increased from Rs 199 crore to Rs 209
crore. For the financial year 2024, revenue rose from Rs 3,409 crore to Rs 3,578 crore, and operat-
ing profit increased from Rs 855 crore to Rs 946 crore. Net profit rose from Rs 627 crore to Rs 724
crore. The company achieved an EPS of Rs 16.58 for the financial year 2024. The stock is cur-
rently quoted at a PE of 43. The company's ROI is 30.7% and ROCE is 32.6%. With increased
activity in the sector, the stock is worth considering.
Prince Pipe (Rs 693.00) (Code: 242907) :- Prince Pipes is a leading piping solution
provider and also manufactures multi-polymer products. The company has a total of 7 manufactur-
ing plants and over 1,500 distributors across the country. Listed in the A group on BSE, the face
value of the company's shares is Rs 10. During the year, the share price peaked at Rs 775.75 and
dipped to Rs 505.15. At the current price, the company's market cap is Rs 7,667.96 crore. Promot-
ers hold 60.94% stake, DIIs 18.53%, FIIs 5.15%, and the public 15.37%. In the March quarter, the
company's revenue decreased from Rs 764 crore to Rs 740 crore, while profit remained Rs 55
crore compared to Rs 94 crore profit in the previous year's March quarter. Operating profit de-
creased from Rs 148 crore to Rs 92 crore. The company achieved an EPS of Rs 4.94 in the March
quarter. For the financial year 2024, the company reported revenue of Rs 2,569 crore, an operating
profit of Rs 307 crore, and a net profit of Rs 182 crore. The management is optimistic about busi-
ness growth, with products available in plumbing, sewage, drainage, and irrigation segments, all
of which are performing well. The company has also entered the water tank business, which is
seeing significant growth. Despite the recent increase from lower levels, investment in the stock is
advisable on any dips.
Financial Weekly TM

Rama Steel Tubes Ltd
BSE: 539309 NSE: RAMASTEEL • CMP - Rs. 11
Rama Steel Tubes Ltd. Strategically Positioned to
Capitalize On Robust Domestic Steel Demand
Rama Steel Tubes Ltd. (RSTL) (BSE: 539309, NSE: RAMASTEEL) is a pio-
neer and leading manufacturer in the steel tubes & pipes. The company is stra-
tegically positioned to capitalize on robust domestic steel demand from key steel
consuming sectors such as real estate, infrastructure and automobiles.
The structural steel pipes industry is an integral part of India's infrastructure
and construction sectors, providing the backbone for a wide range of projects,
from bridges and buildings to oil and gas pipelines. With the government's em-
phasis on infrastructure development and the country's rapidly urbanizing popu-
lation, factors such as increased investment in infrastructure projects, rising de-
mand for residential and commercial spaces, and many more are expected to Corporate
drive the demand for structural steel pipes. The industry's adoption of advanced
manufacturing techniques and the introduction of innovative products, such as SCAN
high-strength and corrosion-resistant pipes, will become the primary reason for the growth in Value Added
Products (VAP), hence increasing the mix of VAP in total volume sold. Furthermore, the adoption of better
technology will lead to an array of opportunities, leading to an increase in the size of the Total Addressable
Market (TAM).
Currently, leaders are concentrating on broadening the product portfolio. Strategic initiatives will assist
them in catering to customers' needs as a one-stop solution, meeting the rising demand, reducing costs, and
ensuring that the product is available across all regions of India.
Additional demand will be met by Hot Rolled (HR) Coil based steel pipes In India, the anticipated expansion
in HR steel production capacity and the consequent increase in structural steel tube manufacturing, which
relies on HR coils as its primary input, it is projected that the growing demand for structural steel tubes will be
predominantly met by those produced from HR coils. Industry forecasts indicate that an additional 15 Mn T of
HR steel production capacity is expected to become operational within the next 3-5 years (as of FY23, HR
Coil/strip production in India was ~46 Mn T).
Rama Steel Tubes Limited (RSTL) is a pioneer and leading manufacturer in the steel Pipes & Tubes and
G.I. Pipes in India established in 1974 by Sh. H.L. Bansal, Rama in one of the most trusted and established
name in the Steel Tube and pipe market in India, and one which is rapidly gaining recognition globally. RSTL
has been continuously striving to improve its performance by increasing sales, share of value-added prod-
ucts, innovating new products and aggressive cost optimization on a continual basis. RSTL products range
includes MS ERW black pipes from 15mm to 200mm diameter pipes confirming to IS: 1239, IS:1161, IS:3589,
IS:3601, & IS:4270 and G.I. Pipes from 15mm to 150mm NB in light, medium and heavy sizes. RSTL has 20%
exports rate, with a global presence in more than 16 Countries. RSTL has a subsidiary in UAE and a step-
down subsidiary in Nigeria which has strengthened
the company's presence in global markets. RSTL has
the world's latest technology, plant and machinery,
which also includes sophisticated testing equipment.
RSTL has 4 state-of-art manufacturing capabilities lo-
cated at Sahibabad (U.P.), Khopoli (Maharashtra) and
Anantpur (Andhra Pradesh). RSTL has acquired 51%
stake in Ashoka Infra steel (Partnership firm). RSTL
also have 25% stake in Peer Panchal Construction
(JV) and has got strong distributor network spread
across India.
***
Financial Weekly TM

A.J. Diwan (Mumbai)
Diwan-E-Khas
THE OTHER SIDE OF....

BULL MARKETS
Investors like the stock market to rise. BSE mark crosses 80,000 or Nifty reaches
24400. Everyone likes to increase the wealth of investors! Will the boom last in
the long run? It is a question of thinking. Investors should take home some profit
at this time. It is certain that those who cannot do it will regret it one day! The
government is not as strong as people think. There is an election in the US. In the
US, the Fed says inflation is under control but interest rate cuts will have to wait.
Sensex - Nifty opens in a boom in the markets of India and brings it down once,
so it is certain that the profit is going home!
Last Thursday it closed at 24401 to 24281 to 24300. Nifty has a Resistance of
24450 above and support 24200. The budget is still pending. Bridges collapse at
various places in the country and water leakage occurs in the recent construc-
tion of Ram Mandir! Is it a reflection of development?
Hindustan Zinc :- Silver rises and has a positive impact on Hindustan's earn-
ings. Buy at current level with a stoploss of Rs 650, above Rs. 725 then it Fast
run. KSB Pump : Looks good for long term investment. The market price has
been brought above 5500. Mastek :- The future of this company, which makes
traffic signals in London, is bright. Support at 2700 and first target Rs 3000, can
be bought for one-two years. SAIL - Hindalco :- Shares of both these companies
can be included in the portfolio at the current level. FMCG stocks... Dabur,
Hindustan Unilever are the ones to watch out for.

Financial Weekly TM
NOW YOU CAN

ADVERTISE
ON OUR
PLATFORM
SCAN THIS
QR CODE
Financial Weekly
Every Sunday Every Wednesday
English & Gujarati Edition Gujarati Edition

Financial Weekly TM

Investment Ideas Nayan Patel
SREE RAYALASEEMA HI-STRENGTH HYPO LIMITED

BSE CODE 532842 & NSE SYMBOL - SRHHYPOLTD Rs.571 FV.Rs.10
COMPANY PROFILE
Sree Rayalaseema Hi-Strength Hypo Limited, is a part of the TGV group. It is the only Indian
manufacturer of Calcium Hypochlorite and is front ranking producer of Stable Bleaching Powder
(SBP), Monochloro Acetic Acid, Chloro Sulphuric Acid, Sulphuric Acid. It is one of the few compa-
nies in the world that are dedicated to research and development of products in water treatment
and purification. It generates power through wind mill power units located in Tamil Nadu and 10
MW thermal power plant at Gondiparla in Andhra Pradesh.
The various chemicals that SRHHYPOL manufactures are:
(1) Calcium hypochlorite: Calcium hypochlorite is an extremely versatile sanitation and disin-
fection product. SRHHYPOL's Aquafit is a high grade calcium hypochlorite which has very wide
applications in swimming pools and drinking water treatments. It is one of the few in the world and
the only one in India, to manufacturer and export Calcium Hypochlorite of 65% - 70 % Min Chlorine
content.
(2)Stable Bleaching Powder: Due to its multi-dimensional properties, it finds ready application
in a range of industries such as textiles, paper, leather, aquaculture and sugar industry. It is even
used for water and sewage treatment.
(3) Monochloro Acetic Acid: SRHHYPOL is a front-ranking producer in this product. It is used by
all the leading manufacturers of Non-Steroid Anti-Inflammatory Drugs, pharmaceuticals, pesticides,
organic chemicals, etc.
(4) Sulphuric Acid: It is used in steel, heavy chemicals and fertilizer industry.
Company has recently started production of Sodium Metal which is only of its king in India, this
speciality Chemical plant is expremely difficult to construct and is very dangerous as well. This
Sodium Metal plant is likely to be a game changer for the company.
TRIGGERS:
" The demand of Calcium Hypochlorite is growing in domestic and international market as it
is used in cleaning Water.
" Most of the raw materials are easily available locally thus saving their logistic cost.
SRHHYPOL has a distinctive edge in the manufacture of this product because of indigenous raw
material availability and supply of some specialized chemicals by Sree Rayalaseema Alkalies
and Allied Chemicals Ltd.
" It is trading at PE of just 13
" Company has recently started production of Sodium Metal which is only of its king in India,
this speciality Chemical plant is expremely difficult to construct and is very dangerous as well. This
Sodium Metal plant is likely to be a game changer for the company.
" Company is for traying into Semi Conductor, any development into further into this segment
would Re-Rate the company
" Promoter of this company hails from Andhra Pradesh and he has now become Industries
Minister in ChandraBabu Naidu Cabinet.
" Company has done multiple expansions across multiple chemicals in last few years and
the fruits of which are likely to come
" According to management, the company gets advance payments even one year prior to
delivery of the products which is a big trigger for the company
" This Debt Free regular dividend paying company posted EPS of Rs 46 for FY24
" Investor can watch SRHHYPOLTD.
Cont...
Financial Weekly TM

HFCL LTD BSE CODE 500183 &
NSE SYMBOL - HFCL Rs.130 FV.Rs.1
Company Background: HFCL is a leading technology company specialising in creating digital
networks for telcos, enterprises & governments. Over the years, HFCL has emerged as a trusted
partner offering sustainable high-tech solutions with a commitment to provide the latest technology
products to its customers. Its strong R&D expertise coupled with its global system integration ser-
vices and decades of experience in optics fiber enable them to deliver innovative digital network
solutions required for the most advanced net works. The Company's in-house R&D located at
Gurugram & Bengaluru along with invested R&D Houses and other R&D collaborators at different
locations in India & abroad, innovate a futuristic range of technology products & solutions. HFCL
has developed capabilities to provide premium quality Optical Fiber & Optical Fiber Cables, stateof-
the-art telecom products including 5G Radio Access Network (RAN) products, 5G Transport Prod-
ucts, WiFiSystems (WiFi 6, WiFi 7), Unlicensed Band Radios, Switches, Routers & defence elec-
tronics products. HFCL has state-of-the-art Optical Fiber & Optical Fiber Cable manufacturing plants
at Hyderabad, Optical Fiber Cable manufacturing plant in Goa & in its subsidiary HTL Limited at
Chennai. HFCL is a partner of choice for its customers across India, Europe, Asia Pacific, Middle
East, Africa and USA.
Equity capital, reserve & promoter holding: The Company has equity of Rs.144 cr. supported by
huge reserves of Rs.3812 cr. FIIs hold 7.66% & DIIs hold 5.68% stake in the company.
Performance: For Q4FY24, HFCL posted PAT of Rs.110.05 cr. as against PAT of Rs.71.82 cr.
in Q4FY23. For FY24, HFCL posted PAT of Rs.329.80 cr. on income of Rs.4465 cr. HFCL has a
Robust order book of more than Rs.7600 cr.
Investors can watch HFCL.
JAI CORP LTD BSE CODE - 512237 &
NSE SYMBOL - JAICORPLTD - Rs.401 FV.Rs.1
Jai Corp was incorporated in 1985. It has traditionally been into manufacturing businesses like
steel, plastic processing and spinning yarn. Apart from expansion of its plastic processing busi-
ness, it is now focusing and investing in emerging opportunities like developing SEZs, infrastruc-
ture, venture capital and real estate.
¢ Jai Corp has multiple Business segments and operates in various verticals, including Manu-
facturing, SEZ, Infrastructure, Venture Capital and Real Estate Development. This diversification
provides more strength to company. ¢ Jai Corp has the base of its all operations in Mumbai which
is the biggest business hub of India & fortunately, company have big land parcel there in the prime
area of the Mumbai, which has big value.
¢ Company has big Manufacturing facilities and other business units which have big market
value than its recorded at cost on books (Even after Depreciation). So actual worth for the assets
and facilities is much higher.
¢ Management & promoters of the company are very strong and having vast experience in
this field and they are doing exceptionally well. They are very confident to achieve the highest ever
revenues very soon.
¢ Jai Corp has invested in 2 Multi product Special Economic Zones near Mumbai - Navi Mumbai
SEZ (NMSEZ) and Mumbai SEZ (MSEZ). Both the SEZs are being conceived and developed as a
futuristic business hub and gateway for trade, commerce, industry, service and tourism. NMSEZ is
promoted by Reliance Group (headed by Shri Mukesh Ambani), Jai Corp and CIDCO. It is pro-
posed to be developed over 5,250 acres, out of which 4,125 acres have already been handed over
to NMSEZ and MSEZ is promoted by Reliance Group (headed by Shri Mukesh Ambani) and Jai
Corp. It is proposed to be developed over 5,000 hectors out of which 1,845 hectors have been
registered.
Cont...
Financial Weekly TM

¢ Now Company is planning to initiate the real estate projects on the land parcel it has in
Mumbai, which will bring a super boom in its performance because in Mumbai already real estate
sector is witnessing highest ever sales and many projects are being sold on the first day of launch.
So, there are bright chances for the big profits if company initiate all its under planning projects.
¢ Shareholding pattern of the company is very strong as promotors holds 73.01% stake. Be-
sides that, 0.64% stake is held by FII, and 1.60% by DII. Rest 24.75% stake is out with other share-
holders.
¢ On weekly charts also stock is ready for a big breakout. Its 52 weeks high is Rs.438.
¢ Investor can watch Jai Corp.
Vibrant Global Capital Ltd. Only at BSE - code 538732
BSE SYMBOL - VGCL Rs.94 FV. Rs.10
Vibrant Global (VGCL) posted EPS of Rs 20.85 in FY24, trading at PE of just 4.55. Promoters
hold 71.3% stake and very renowned fund manager Siddharth Bhaiya holds 20.8% stake. This
dividend paying company is available at mouth watering valuations. Its 52 weeks high is Rs.134.
Investor can watch VGCL.
Morepen Laboratories Ltd : BSE CODE - 500288 &
NSE SYMBOL - MOREPENLAB Rs.59 Face Value Rs.2
Morepen Laboratories Ltd. is a pharmaceutical & healthcare products company. Morepen is a
leading manufacturer of high-quality APIs,Home Diagnostics, Formulations & OTC products in
India. Morepen has achieved to its credit the enduring confidence of a strong customer base span-
ning over 82 countries for its leading API products. It has an equity base of Rs.102 cr. that is sup-
ported by reserves of around Rs.687 cr.
For Q4FY24, MLL posted higher PAT of Rs.39.96 cr.as against Rs.10.28 cr. in Q4FY23, a big
jump 289%. For FY24 MLL posted 140% higher PAT of Rs.110.94 cr. against Rs.46.24 cr. in FY23.
Banks & insurance companies hold 2.22%, FPIs hold 2.11%, Foreign companies & NRIs hold
8.62% & HNIs hold 5.62%.
Business Highlights: Morepen Laboratories has reinforced its position as a leading player in
Home Diagnostics and point of care Medical Devices and APIs, the company remains debt-free
and continues to be a category leader in both segments, exporting to 80 countries. Mr. Sushil Suri,
Chairman of Morepen Laboratories, commented on the results, stating, "We are excited with the
robust performance across all segments. Our strategic investments in the medical devices and API
businesses have yielded excellent results, and we are confident of sustaining this momentum. The
future looks promising as we continue to increase capacities and expand our market reach." Fur-
thermore, Morepen Laboratories continues to drive innovation with 155 patents filed and 249 Drug
Master Files (DMF) submitted. Additionally, the company has introduced 43 new molecules, show-
casing its commitment to advancing pharmaceutical research and development. Morepen boasts
a robust distribution network with over 5,100 distributors and 328,000 retail touch points across
India. The company plans to invest further in research and development to introduce innovative
products and expand its global presence.
Investor can watch MOREPEN.
Disclaimer: Investing in equity is very risky. Our recommendations are based on reliable & authenticated
sources believed to be true & correct & also is technical analysis based on & 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. Consult your financial
advisor before taking any position.
Financial Weekly TM

Primary Market - Dilip K. Shah
Equity market enthusiasm in the primary market alongside the mainboard: Investors in SME IPOs are buoyant: BSE SME Index reaches a record high of 99134
Companies raised Rs. 6.7 billion through 34 IPOs in the first half of the calendar year 2024 :Shares of 734 companies are trading at premium prices
Shares of 25 SME companies have risen by up to 700% in just 5 months
Out of total 192 companies listed on NSE SME shares of 109 (57%)companies have witnessed a significant spurt
This week witnesses 14 issues including 1 FPO, 4 NSE SME, 8 rights, and 1 NCDs
SAR Televenture's Rs. 150 crore FPO opens on July 4th at Rs. 210 and closes on July 8th.
Four NSE SME IPOs: Ambey Lab, Effwin Infra, Ganesh Green, Sahaj Solar are in the market this week
Mainboard IPOs: Allied Blenders lists at a premium of 13.20% and Vraj Iron at 16 %
NSE IPO Blockbusters listing: Divine Power at 287%, Shivalic Power at 211%, Dinesten Tech at 140%, Nephro at 90% premium
Mainboard IPO of Emcore Pharma got 67.77x and E got 62.59x subscription on the last day
SAR Televenture's Rs. 300 crore rights issue offers at Rs. 200, opens on July 15th, and closes on July 22nd
- When will the allotment/listing of Encure Pharma and Bansal Wire's IPOs be
- NSE SME listing: Sylvan Ply at 20 %, Mason Infra at 38 %, Akkiko Global at 27 %, and Petro
Carbon premium
- NSE SME Subscription: Ambay Lab, 38.80x on the 2nd day, Effwa Infra and Ganesh Green,
respectively, got 14.50x and 9.80x subscription
- Currently, a total of 8 rights issues in the market
This week, three new issues SEPC Ltd, Bhandari Hosiery, and SAR Tele arrived
- Edelwis Fin.'s Rs. 100 crore base issue opens on July 8th and closes on rare July
- Shakati Finance closed with a 1.75xsubscription on the last day of July 3
- ACME Solar Rs. 3000 Cr, Sagility 984 Million Shares, Niva Bupa Rs 3000 Cr have filed docu-
ments for IPOs with SEBI.
Grey Market Premium / Kostak / Subject to Prices

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

Emcure Pharma Main Line IPO 14 960 to 1008 370 to 375 850 4,600
Small HNI 1500 69,300
Big HNI 6300 to 6800 69,300
Bansal Wire Main Line IPO 58 243 to 256 75 to 76 350 3,600
Small HNI 50,350
Big HNI 4,900 50,300
SME IPOs
Ambey Laboratories NSE SME 2000 65 to 68 44 to 45 67,000
Effwa Infra NSE SME 1600 78 to 82 88 to 90 1,10,000
Ganesh Green NSE SME 600 181 to 190 200 to 205 1,15,000
Sahaj Solar NSE SME 800 171 to 180 -- -- --
FPOs
SAR Televentures NSE SME 200 to 210 85 to 90
Don't subscribe IPO only on the basis of Grey premium. Before Investing check the fundamentals of IPO
Cont...
Financial Weekly TM

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 Ambey 4-7-2024 Fresh : 65,52,000 Sh. 65 to 68 2000 Shares Fast Track 28%
Laboratories 8-7-2024 OFS : 3,12,000 Sh. FV Rs 10 Rs 1,36,000 Avoid
Total : 68,64,000 Sh. (Expensive)
2 Effwa Infra 4-7-2024 Fresh : 53,16,800 Sh. 78 to 82 1600 Shares Shreni 32%
& Research 9-7-2024 OFS : 9,36,000 Sh. FV Rs 10 Rs 1,31,200 Shares Apply for Long Term
Total : 62,52,800 Sh.
3 Ganesh 5-7-2024 65,91,000 Share 181 to 190 600 Shares Hem 34%
Green 9-7-2024 Rs 125.23 Cr FV Rs 10 Rs 1,14,000 Securities Apply for Mid Term
4 Sahaj Solar 11-7-2024 29,20,000 Share 171 to 180 800 Shares Kunvarji 28% ; Avoid
15-7-2024 Rs 52.26 Cr FV Rs 10 Rs 1,44,000 Finstock (Pricey Bet)
NSE SME FPO

Sr Company Open Dt. Issue size Offer price Minimum Lead Rating Remark
Close Dt. (Rs. Cr.) (Rs.) Applications Size Manager (Out of 50%) %
1 SAR 4-7-2024 71,42,857 Shares 200 to 210 -- Pantomath --
Televenture 8-7-2024 Rs 150 Cr FV Rs 2 -- Capital
Non Convertible Debenture (NCD) Issues at a Glance

Sr Company Issue Open Bond size Price Min. Listing Rating Recomm.
Issue Close (Rs. Cr.) (Rs.) App.
1. Edelweiss 8-7-2024 Base Size Rs 100 Cr. 1,000/- 10 NCDs BSE CRISIL A+/ Apply for
Financial 22-7-2024 Oversubscritpion Rs. 100 Cr (Rs.10,000) Watch Negative Medium
Overall Size : Rs 200 Cr Lead manager : Trust Inve., By Term
Nuvama, Registrar : KFin Techno Crisil Rating
Rights Issue
Sr Company Issue Open Dt. Issue size Offer price Ratio & Listing Lead Manager/ Recomm.
Issue Close Dt. (Rs. Cr.) (Rs.) Record Dt. Registrar
1. Gujarat 14-6-2024 6,11,08,960 8 11 Shares for every BSE -- Apply
Toolroom to Shares FV Rs 1 10 shares held on NSE Registrar For
12-7-2024 Rs 48.89 Cr 5-6-2024 Cameo Corporate Long Term
2. Spright Agro 24-6-2024 3,34,84,611 13.4 1 Shares for every BSE -- Stay Away
to Shares FV Rs 1 15 shares held on Registrar (AVOID)
12-7-2024 Rs 44.87 Cr 7-6-2024 Skyline Financial
3. Kshitij 25-6-2024 4,05,21,875 6.4 4 Shares for every NSE -- Clear
Polyline to Shares FV Rs 2 5 shares held on Registrar AVOID
9-7-2024 Rs 25.93 Cr 18-6-2024 Kfin Techno
4. Mitcon 28-6-2024 42,41,321 76 6 Shares for every NSE Surjan Alpha Apply for
Consultancy to Shares FV Rs 10 19 shares held on Registrar Long Term
26-7-2024 Rs 32.23 Cr 20-6-2024 Link Intime
5. Srestha 4-7-2024 24,00,00,000 2 12 Shares for every BSE -- Avoid
Finvest to Shares FV Rs 2 29 shares held on NSE Registrar
18-7-2024 Rs 48 Cr 24-6-2024 Purva Sharegistry
6. SEPC 5-7-2024 15,38,46,153 13 6 Shares for every BSE Sumedha Fiscal Apply for
Limited to Shares FV Rs 10 55 shares held on NSE Registrar Long Term
19-7-2024 Rs 200 Cr 25-6-2024 Cameo Corporate
7. Bhandari 8-7-2024 7,66,11,591 6.26 15 Shares for every BSE -- Risky Bet
Hosiery to Shares FV Rs 1 32 shares held on NSE Registrar
Exports 22-7-2024 Rs 48.19 Cr 19-6-2024 Link Intime
8. SAR 15-7-2024 1,50,00,000 200 1 Shares for every Pantomath Cap. Next Week
Televentures to Shares FV Rs 2 1 shares held on NSE Registrar
22-7-2024 Rs 300 Cr 9-7-2024 Link Intime
Cont...
Financial Weekly TM

Listing Information of SME & Main Line IPOs
Co. Name Listing Code Offer Listing Listing Listing Listing CMP
Date Price Price Day Day Day 7th
(Rs.) (Rs.) High Low Close March
Shivalic (NSE SME) 1-7-2024 SPCL 100.00 311.00 326.55 297.00 326.55 389.00
Sylvan Ply (NSE SME) 1-7-2024 SYLVANPLY 55.00 66.00 69.30 62.70 69.30 73.85
Mason Infratech 1-7-2024 MASON 64.00 88.00 92.40 83.60 92.40 112.20
Visaman (NSE SME) 1-7-2024 VISAMAN 43.00 45.10 47.35 45.10 47.35 42.55
Allied Blenders (IPO) 2-7-2024 544203 281.00 318.10 324.40 306.70 317.85 343.90
Akiko Global (NSE SME) 2-7-2024 AKIKO 77.00 98.00 98.00 93.10 93.35 88.50
Divine Power (NSE SME) 2-7-2024 DPEL 40.00 155.00 162.75 147.25 150.00 130.65
Petro Carbon (NSE SME) 2-7-2024 PCCL 171.00 300.00 315.00 285.00 315.00 364.50
Vraj Iron (IPO) 3-7-2024 544204 207.00 240.00 251.95 240.00 251.95 260.95
Diensten Tech (NSE SME) 3-7-2024 DTL 100.00 240.00 252.00 240.00 252.00 244.20
Nephro Care (NSE SME) 5-7-2024 NEPHROCARE 90.00 171.00 179.55 171.00 179.55 179.55
Subscription Figures of SME IPO (Dt.5-7-2024)

IPO Listing Day Subscribed
Ambey Laboratories NSE SME 2nd Day Subscribed 38.87x
Effwa Infra NSE SME 1st Day Subscribed 14.50x
Ganesh Green Bharat NSE SME 1st Day Subscribed 9.87x
Sahaj Solar NSE SME Issue Opens on 11-7-2024 --
Subscription Figure of Subscription Figure of

Emcure Pharmacuticals Bansal Wire
No. Shares Issue Subscribed
No. Shares Issue Subscribed
Offered/ 3-7-24 4-7-24 5-7-24 Offered/ 3-7-24 4-7-24 5-7-24
Reserved Reserved
QIB 38,53,234 0.07 0.97 195.83x
QIB 58,20,313 0.01 0.10 153.86x
HN I 28,89,926 2.78 13.99x 49.32x Subscription figure of HN I 46,35,234 2.58 12.83 54.21x
R eta il 67,43,160 1.45 3.53 7.36x
Empl. 1,08,900 2.34 4.92x 8.81x Sakthi Finance R eta il 1,01,85,547 2.64 6.55 14.37x
Total 2,91,01,562 1.88 6.05 62.76x
Total 1,37,03,538 1.34 5.01x 67.87x Category No. of Bond Issue
(Issue Closed on Offered/ Subscribed
3-7-2024 Reserved 3-7-2024
Institutional 37,500 0.00x
Non Inst. 1,12,500 0.00x
HNI 3,00,000 1.33x
Retail 3,00,000 3.04x
Total 7,50,000 1.75x
Cont...
Financial Weekly TM

Tentative Timetable for SME & Main Line IPOs
IPOs Name Issue Basis Refund/ Credit of Listing
Closes of Unblock Shares Date
Date Allotment Amount to Demat
Main Line IPOs
Emcure Pharmaceuticals IPO 5-7-24 8-7-24 9-7-24 9-7-24 10-7-24
Bansal Wire IPO 5-7-24 8-7-24 9-7-24 9-7-24 10-7-24
SME IPOs
Ambe Laboratories NSE SME 8-7-24 9-7-24 10-7-24 10-7-24 11-7-24
Effwa Infra NSE SME 9-7-24 10-7-24 11-7-24 11-7-24 12-7-24
Ganesh Green Bharat NSE SME 9-7-24 10-7-24 11-7-24 11-7-24 12-7-24
Sahaj Solar NSE SME 15-7-24 16-7-24 18-7-24 18-7-24 19-7-24
SAR TELEVENTURE
FPO RIGHTS ISSUE
Issue Opens 4-7-2024 15-7-2024
Issue Closes 8-7-2024 22-7-2024
Price Band Rs 200 to 210 Rs 200 (Including Premium Rs 198)
Issue Size Rs. 150 Cr Rs 300 Cr (1,50,00,000 Fully Paid
Eq. Shares Rs 2/- Each)
Record Date 9 July 2024
Lot Size 500 Share 500 Share
Ratio 1:1
CMP (3-7-24) 265.70 265.70
Market Cap 398.55 Cr 398.55 Cr
Listing NSE NSE
A storm in the primary market

Change against offer price
Co. Name Change% Co. Name Change% Co. Name Change%
Jyoti CNC Autom. 309% Jana Small Finance Bank 62% Stanly Lifestyle 28%
Axicom Tel. Sys. 220% Dee Development Eng. 59% Makka Protein 26%
TBO Tech 107% Nova Agritech 57% Go Digit General In. 24%
JNK India 100% Awfis Space Solutions 33% Indegene 23%
Bharti Hexacom 96% Medi Asist Helathcare 32% Juniper Hotels 18%
BLS E-Services 86% Adhaar Hou. Fin. 30% Apeejay Surrendra Park 16%
La Travenues Tech. 69% Platinum Industries 16%
Cont...
Financial Weekly TM

NSE imposes 90 per cent cap on listing of
SME IPOs to prevent malpractice
The National Stock Exchange- (NSE) has set a 90 per cent cap on share prices in the special
pre-open session to be held today when the SME IPO shares are listed. That is, in this session, the
related shares cannot be traded at a price exceeding 90 percent of the issue price under the SME
IPO. The implementation of this order will start with immediate effect i.e. from 4th July itself. SEBI
has relaxed the listing rules for the SME segment but the market regulator has received complaints
that the relaxed rules are being misused to drive up prices.
SAR Televenture Limited announces

Composite Equity Issue of Rs 450 crore
o Fund raising of equity share will be Composite of Rights Issue ("RI") and Further Public
Offer ("FPO");
o For existing shareholders record date of Rights issue is Tuesday, July 09th, 2024. One
Rights Share will be allocated to existing shareholder for every one Equity Share held;
o The price band of FPO will be Rs 200 to Rs 210 per Equity Shares;
o Net proceeds from FPO and RI will be utilized, inter alia towards funding capital expendi-
ture and working capital augmenting future growth;
SAR Televenture Limited (NSE Symbol: SARTELE) announces Composite Equity Issue of Rs 450
crore. The Composite Issue comprises Rights Issue aggregating up to Rs 300 crore and FPOaggregating
up to ? 150 crore (The "Total Offer Size").
The proposal for fund raising of an amount up to ? 450 crore through issuance of equity shares through
Composite Issue was approved at the meeting of the Board of Directors of the Company held on 20th
January 2024.
The Rights Issue will comprise 1,50,00,000 fully paid up Equity Shares of Rs. 2 each at an issue price
of Rs 200 per Rights share (including premium of Rs 198 per Rights Share). The Rights Issue will open on
Monday, July 15th 2024 and close on Monday, July 22nd, 2024. (The "Rights Issue and Offer Period")
Existing shareholders will get 1 (one) Rights share for 1 (one) equity share held as on record date
Tuesday, July 09th2024 for the purpose of date determining the equity shareholder's entitled to receive the
Rights Entitlement in the Rights Issue("Eligible Equity Shareholders for Rights Issue")
The price band of FPO will be Rs 200 to Rs 210 per Equity Share. (The "FPO Price Band")
The Company proposes to utilize the Net proceeds towards (i) funding setting up of Fiber-to-the-Home
(FTTH) network solutions for 3, 00,000 Home Passes estimated to be Rs 273 crore; (ii) Setting up of an
additional 1000 number of 4G/5G telecom towers estimated to be Rs 42.50 crore; (iii) Incremental working
capital requirement of our Company estimated to be Rs 30 crore andbalance amount towards General
Corporate purposes to be utilized in FY 2025. (The "Objects of the Offer")
The Company's share price and Market Capitalization as on July 03, 2024 was Rs 265.70 and Rs
398.55 crore respectively. The Company's share price touched 52 week high of Rs 332.05 on February 07,
2024.
Pantomath Capital Advisors Private Limited is the sole book running lead manager of the Issue.
Cont...
Financial Weekly TM

Grey Market Movement
Decline in IPO Numbers in Grey Market but Surge in Volumes leads to spurt in Premium
With the announcement of SAR Televentures' FPO trades at high premiums
Premiums of Emcure Pharma and Bansal Wire skyrocketed
Ambey Lab sees potential returns of 60-70%,
Effwa and Ganesh Green see 90% return potential
NSE's 90% cap on SME IPO listings shocks grey market
Currently, the grey market is bustling with heavy trades in premiums and "subject to" deals for
two mainboard IPOs, Emcure Pharma and Bansal Wire. Additionally, the recently entered SAR
Televentures FPO is also witnessing significant high-premium activities. Alongside, four SME
IPOs are causing quite a stir in the grey market.
* Mainboard IPOs :-
Emcure Pharma : Last week, the premium for this IPO ranged from 260-265. Currently, it has
surged approximately 30-35% to about 337. The interest rate is 850, while the "subject to" prices
for SHNI and BHNI are 69,300.
Bansal Wire : The offer price for this IPO was 243-250. Recently, its premium has risen from
48-50 to 75-78. The interest rate is 350, and the "subject to" prices for SHNI and BHNI have
jumped to 50,000.
SAR Televentures : Entering the market with an FPO of 450 crores and a composite equity
issue of rights issue of 150 crores, this company's FPO opened on July 4 with a price band of
200-210. Upon its announcement, heavy trading at high premiums of 80-90 has started in the
grey market. Experts indicate that with the possibility of high listing prices, the premium might
surge to 100+. Additionally, the company is planning a rights issue of 300 crores at 200 per share
on July 15.
* SME IPOs :- In the grey market, three NSE SME IPOs are seeing heavy trades at premium
and "subject to" prices. Ambey Lab IPO is showing a premium of 60-70% over the current prices,
while Effwa Infra and Ganesh Green are indicating potential listing gains of 110-120% over the
offer prices. However, it's noteworthy that due to a recent NSE circular to curb listing irregulari-
ties, a 10% maximum price cap on the listing day has been implemented, reducing the potential
listing gains for SME issues to 90%.
Cont...
Financial Weekly TM

* BSE-SME IPO Index Reaches a Record Value of 99,134 :- Along with the equity market, the
primary market is also experiencing a significant moment. Many companies are preparing to enter
the capital market this year. The BSE SME IPO index has reached its highest levelat 99,134.
Companies Raised 26,272 Crores Through 34 IPOs from January to June :- The first six
months of the calendar year 2024 have seen a considerable commotion in the primary market.
During this period, 34 shares were listed. Compared to the same period last year, fewer compa-
nies were listed. These 34 companies raised a total of 26,272 crores, which is less than the funds
raised in the same period over the last two years. Among the listed companies, 73% are trading
above their issue price. This year, there has been a shortage of mega issues. However, Hyundai
India's mega issue is upcoming. Among the 34 stocks listed in the IPO market within six months,
four have proven to be multibaggers, currently trading at least 100% higher than their issue price.
These four multibaggers include Jyoti CNC Automation, Exicom Telecom, TBO Tech, and J&K
India. Jyoti CNC's issue was oversubscribed 40 times, and its share is still trading at more than
three times the issue price. Exicom Telecom's share is trading at 220% higher, TBO Tech's share
at 107%, and J&K's share at 100% higher than the issue price. Bharti Hexa's share is trading 96%
higher than the offer price. Shares of BLS E-Services and La Travenues Technologies are also
trading over 60% higher than the offer price. However, shares of some companies have
underperformed post-listing. Capital Small Finance Bank's share is trading 26% lower than the
offer price. Similarly, stocks like EkmeFintrade, AK Swamy, SRM Contractors, Entero Healthcare,
Gopal Snacks, GPT Healthcare, and Popular Vehicles have not received a good response from
the market.
Shares of 25 SME Companies Increased by Up to 700% in Just Six Months :- Among them,
65 companies' shares have increased between 10% to 99%, while 25 companies' shares have
more than doubled. In comparison, the Nifty 50 Index increased by only 10% during the same
period. Due to the market surge, shares of many small and medium companies (SMEs) have risen,
but experts advise caution regarding this surge. Many SME shares have gained momentum due to
the good market environment. According to experts, these shares might be risky at current highs.
Shares of some SME companies might experience a decline in float, leading to an increase in their
prices. However, investors need to be cautious. If a company's stock has a P/E ratio of 50, inves-
tors should check if the company has been consistently earning profits at a rate of 30% over the last
three years. If not, investors should exit such SME shares.
Cont...
Financial Weekly TM

* Last Week's Mainboard IPOs :-
- Emcure Pharma (MainLine) : This combo IPO of 1952.03 crores in the price band of 960 to
1008 closed on July 5. The minimum application was for 14 shares. The total subscription was
67.87 times, with QIB: 195.83x, HNI: 49.32x, bHNI: 54.90x, sHNI: 38.16x, retail: 7.36x, and em-
ployee: 8.81x. Each applicant in the retail category can get an allotment of 7.90%. Approximately
one out of six applicants may get an allotment of 14 shares. For SHNI (investors of 2 to 10 lakhs),
the allotment ratio could be 36.19x, and for BHNI (investors of 10 lakhs), the ratio could be 10.94x.
Listing will be on Wednesday, July 10. The share listing might be around 1350 to 1375 and could
jump to 1400 after listing. Those who hold this share could see good returns in the future.
- Bansal Wire (MainLine) : This IPO of 745 crores in the price band of 243 to 256 closed on July
5. The minimum application was for 58 shares. The total subscription was 62.76 times, with QIB:
153.86x, HNI: 54.22x, bHNI: 55.27x, sHNI: 52.11x, and retail: 14.37x. Each applicant in the retail
category can get an allotment of 4.08%. Approximately two out of 25 applicants may get an allot-
ment of 58 shares. For SHNI (investors of 2 to 10 lakhs), the allotment ratio could be 49.46x, and for
BHNI (investors of 10 lakhs), the ratio could be 10.87x. Listing will be on Wednesday, July 10. The
share listing might be around 325 to 335 and could reach 350 post-listing. If the price goes above
this, investors could book profits by selling 50% of their shares and hold the remaining shares for 2
to 3 quarters for good returns.
* Last Week's SME IPOs:
- Ambey Lab (NSE SME) : This IPO of 44.68 crores in the price band of 65 to 68 opened on July
4 and closed on July 8. Listing will be on Thursday, July 11. The total subscription on the second
day was 42.59 times, with retail: 64.63 times. The share listing is expected to be around 100 to 110
considering current listings.
* Listings:
- Allied Blenders (544203) : This mainboard IPO was listed on Tuesday, July 2, at 318.10, a
13.20% premium over the offer price of 281.
- Shivalik Power (NSE SME) : This IPO in the price band of 100 was listed on Monday, July 1,
at 326.55, a 211% premium.
- Mason Infratech (NSE SME) : This IPO in the price band of 64 was listed on Monday, July 1,
at 88, a 37.50% premium.
Cont...
Financial Weekly TM

- Visaman Global (NSE SME) : This IPO in the price band of 43 was listed on Monday, July 1,
at 47.35, a 4.88% premium.
- Sylvan Poly. (NSE SME) : This IPO in the price band of 55 was listed on Monday, July 1, at 66,
a 20% premium.
- Divine Power (NSE SME) : This IPO in the price band of 40 was listed on Tuesday, July 2, at
155, a 287.50% premium.
- Akiko Global (NSE SME) : This IPO in the price band of 77 was listed on Tuesday, July 2, at
98, a 27.27% premium.
- Petro Carbon (NSE SME) : This IPO in the price band of 171 was listed on Tuesday, July 2, at
300, a 75.44% premium.
- Vraj Iron (544204) : This IPO in the price band of 207 was listed on Thursday, July 3, at 240, a
15.94% premium.
- Diensten Tech (NSE SME) : This IPO in the price band of 100 was listed on Thursday, July 3,
at 240, a 140% premium.
- Nephro Care (NSE SME) : This IPO in the price band of 90 was listed on Friday, July 5, at 171,
a 90% premium.
This week, in the absence of a mainboard IPO, one FPO and four NSE SME IPOs (Ambey Lab,
Ganesh Green, Effwa Infra, and Sahaj Solar) are entering the market. Additionally, one NCD issue
and two new rights issues, totalling eight rights issues, are entering the market. Detailed analysis
of all these issues is provided in a separate box.
* This Week's SME IPOs:
- Ganesh Green Bharat (NSE SME) : This IPO of 125.23 crores in the price band of 181 to 190
opened on July 5 and will close on July 9. Listing will be on Friday, July 12. On the first day, the
total subscription was 12.60 times, with retail: 18.62 times. According to grey market premiums,
listing could be around 380 to 390. However, considering the recent 90% limit, listing could be
around 170.
- Effwa Infra (NSE SME) : This combo IPO of 51.27 crores in the price band of 78 to 82 opened
on July 5 and will close on July 9. Listing will be on Friday, July 12. On the first day, the total
subscription was 17.27 times, with retail: 29.84 times. Listing could be around 170 to 175.
- Sahaj Solar Ltd. (NSE SME) : This IPO of 171 to 180 crores in the price band will open on July
11 and close on July 15. Listing will be on Friday, July 19.
Cont...
Financial Weekly TM

* Rights Issues:
Last week, the primary market witnessed five rights issues. Among these, Sobha Ltd. closed on
July 4. Spright Agro was initially scheduled to close on July 12 but has been extended to July 23.
Additionally, rights issues for Guj Toolroom, Khtitij Polyline, and Mitcon Consultancy are ongoing.
This week, two more rights issues are entering the market: Shriram EPC Ltd and Bhandari Ho-
siery. Detailed analyses of both these issues are provided in a separate box.
* NCDs Issue:
Last week, only one NCD issue, Shakthi Finance, was active in the market, which closed on
July 3. On the last day, this NCD issue was subscribed 1.75 times. This week, Edelweiss Finance
NCDs issue is entering the market.
Edelweiss Financial (NCDs) : This NCD issue totals 200 crores, with a base issue of 100
crores and an oversubscription option of 100 crores. The listing will be on BSE. The coupon rate
ranges from 9.50% to 11%, and it has been rated CRISIL A+/Watch Negative. The tenure options
are 24, 36, 60, and 120 months.
* Upcoming IPOs:
Niva Bupa Health : Formerly known as Max Bupa Health Insurance Company, Niva Bupa
Health Insurance Limited has filed a DRHP with SEBI to raise 3000 crores through an IPO, con-
sisting of 800 crores as a fresh issue and 2200 crores as an OFS. The book-running lead manag-
ers for the IPO are ICICI Securities, Morgan Stanley, Kotak Mahindra, Axis Capital, HDFC Bank,
and Motilal Oswal Investment.
Sagility India : Technology-based healthcare solutions and service provider Sagility India has
filed draft papers with SEBI to raise funds through an IPO. The public issue includes only 98,446,377
equity shares as an OFS, with no new issues. The issue's lead managers are ICICI Securities, IIFL
Securities, Jefferies India, and JP Morgan.
ACME Solar : Renewable energy company ACME Solar Holdings Limited has filed primary
documents with SEBI to raise 3000 crores through an IPO. According to the DRHP, the issue
consists of 2000 crores as a fresh issue and 1000 crores as an OFS. The lead managers for this
IPO are Nuvama Wealth, JM Financial, Kotak Mahindra, and Motilal Oswal.
Cont...
Financial Weekly TM

Effwa Infra & Research Limited NSE SME IPO
Opens on 5th July & Closes on 9th July
Price Band Rs. 78 to 82; Listing on NSE Emerge
The company has recorded continuous growth in the last 2 fiscals
Sudden over 2.7x jump in bottom line for FY24 is surprising & doubtful
Considering all valuation parameters, issue appears fully priced
Investors may consider to apply for long term rewards
Effwa Infra & Research Limited was founded in 2014 and provides engineering, consulting, procurement, construc-
tion and integrated project management services in the field of water pollution control, covering wastewater and indus-
trial effluent treatment, solid waste treatment and disposal, aeration systems, hazardous waste management and water
treatment plants. The company offers its services in the states of Andhra Pradesh, Chhattisgarh, Gujarat, Maharashtra,
Odisha, West Bengal, Madhya Pradesh and Rajasthan as well as in the Special Economic Zone, which includes Adani
Ports, and in the international market.
Financial Performance
Issue Details
• Issue Opens on 5th July & Closes on 9th July 2024
Consolidated Basis
Particulars (Rs. Cr.) FY22 FY23 FY24
• Object of the issue : Funding working capital requirements of the company Total Revenue 104.62 115.41 145.51
Funding of capital expenditure requirements of the company towards the Profit After Tax 4.60 5.13 13.80
purchase of new office Equipment; and General corporate purposes. EPS 2.58 2.88 7.74
• Fresh Issue : 53,16,800 Share ; Rs 43.60 Cr ; OFS : 9,36,000 Share RONW (%) 24.96 21.78 37.15
Rs 7.68 ; Total : 62,52,800 Share ; Rs 51.27 Cr • Face Value Rs. 10
• Offer price Rs. 78 to 82 • Lot Size : 1600 Share • Listing on : NSE SME
• BRLM : Shreni Shares Limited • Registrar : Bigshare Services Pvt Ltd
• Company Management : Dr. Varsha Subhash Kamal and Mr. Subhash Ramavtar Kamal • Market Cap : Rs. 189.81
Cr.
• Pre Issue Promoter Holding : 99.99% • Post Issue Holding : 72.99%
• Issue constitutes 27% of the post issue paid up capital
• Average of last 3 Yrs. EPS Rs. 5.26 & RONW : 29.99%
• Pre IPO Eq. Capital Rs. : 17.83 Cr.• Post IPO Eq. Cap. Rs. 23.15Cr.
• Pre IPO : P/BV Ratio 3.93 (NAV : 20.84) • Post Issue P/BV Ratio : 2.51 (NAV : 32.60)
• Pre IPO P/E Ratio : 10.59
• Post IPO asking P/E on fully diluted equity : 13.75
• Industry Peer Group PE Ratio : 28.10
• BRLM’s Performance : This is 30th Issue from BRLM in last 3 years. In last 10 Listing : 9 Issued opened with premium
& 1 Issue at par.
OTHER SIDE OF THE COIN

• The average cost of acquisition of equity share by promoters / selling shareholders of the company is Rs. 2.24 and
2.33 per share and the offer price is Rs. 78 to 82.
• The company issued bonus shares in February 2024 in the ratio of 20:3.
• Apart from initial equity capital at par the company issued further equity shares during March 2016 and March 2017
Rs. 20 to Rs. 35 (based on face value Rs. 10)
• The company operates in a highly competitive segment.
• It derives most of its revenue from a limited number of customers.
• The company requires significant amount of working capital.
• The company is yet to place a 100 percent purchase order for office equipment.
• Its operations are subject to hazards and other risks
Recommendation : - The Company provides EPC and integrated projects management
services. The company has posted consistent growth in its financial performance for last
two fiscals. However sudden over 2.7x jump in bottom line for FY24 is surprising, doubtful
and unlikely to sustain going forward. Considering P/BV of 3.93 and PE of 13.75 issues
appears fully priced. Investors may consider to apply for long term rewards.
Financial Weekly TM

Ganesh Green Bharat Limited NSE SME IPO
Opens on 5th July & Closes on 9th July
Price Band Rs. 181 to 190; Listing on NSE Emerge
The company is an electrical contacting service provider
It has posted sudden jump in bottom line for FY23 & FY24 with setback in top line for FY23
On the valuation front, Te issue appears to be fully priced considering all the parameters
Looking to over Rs 300 Cr. orders & Bright future ahead
Investors may apply for medium term
Incorporated in April 2016, Ganesh Green Bharat Limited is an Electrical Contracting Service company. The com-
pany offers a range of services including the supply, installation, testing, and commissioning (SITC) of solar and
electrical goods and services to various government bodies. The company has a team of 10 engineers supported by
third-party consultants and industry experts to ensure compliance with industry and government standards.
Issue Details
• Issue Opens on 5th July & Closes on 9th July 2024 Financial Performance
• Object of the issue : Repayment in full or in part, of certain of the outstanding Consolidated Basis
borrowings; Funding Capital Expenditure towards installation of additional
Total Revenue 106.12 90.60 171.96
plant and machinery at the factory, Funding to meet working capital
Profit After Tax 5.21 8.16 19.89
requirements and General Corporate Purpose.
EPS 2.86 4.48 10.92
• Fresh Issue : 65,91,000 Share ; Rs 125.23 Cr • FV Rs. 10
RONW (%) 19.23 23.15 34.72
• Offer price Rs. 181 to 190 • Lot Size : 600 Share • Listing on : NSE SME
• BRLM : Hem Securities Limited • Registrar : Kfin Technologies Limited
• Company Management : Ketanbhai Narsinhbhai Patel, Rajendrakumar Narsinhbhai Patel, Niravkumar Sureshbhai
Patel and Shilpaben Ketanbhai.
• Market Cap : Rs. 509.22 Cr.
• Pre Issue Promoter Holding : 100% • Post Issue Holding : 73.42%
• Issue constitutes 26.58% of the post issue paid up capital
• Pre IPO Eq. Capital Rs. : 18.21 Cr.• Post IPO Eq. Cap. Rs. 24.80 Cr.
• Pre IPO : P/BV Ratio 6.04 (NAV : 31.46) • Post Issue P/BV Ratio : 2.58 (NAV : 73.59)
• Pre IPO P/E Ratio : 15.85 • Post IPO asking P/E on fully diluted equity : 21.59
• Industry peer Group PE Ratio : 119.97
• BRLM’s Performance : This is 45th Issue from BRLM in last 3 years. In last 10 Listing : 10 Issued opened with
premium.
• The average cost of acquisition of equity shares by the promoter of the company is Rs. 0.00, Rs.0.69 and Rs. 0.74
per share while the offer price is Rs. 181 to 190.
• Company issued bonus shares in the ratio of 14:1 in September 2023.
• Apart from initial equity capital at par, the company issued further equity shares at price of Rs 1544.50 per share in
September 2023.
• The project is awarded through a competitive bidding process.
• The company's business requires intensive capital.
• Limited experience in the business of Mfg. of Solar PV Modules.
• The company's manufacturing facility is on lease premises.
• The past cash flow of the company has been Negative.
Recommendation : - The Company is an electrical contracting services provider. On Fi-
nancial front it has posted sudden jump in bottom line for FY23 & FY24 with setback in top
lines in FY23. On valuation front considering P/BV of 2.58 and PE of 23.33 issues appears
fully priced. Looking to over Rs. 300 Cr. orders which are almost double to its FY24 turnover
& Bright future ahead, Investors may consider to apply for medium term.
Financial Weekly TM

Sahaj Solar Limited NSE SME IPO
Opens on 11 July & Closes on 15th July ; Price Band Rs. 171 to 180
th
Company Provider of renewable Energy Solutions

Sudden 176% jump in top line & 533% in bottom line for FY23 seems to be manipulated
annualized 9MFY24 earrings it has reported de-growth in top & bottom lines
On Valuation front considering all parameters Issue appears exorbitantly priced
Investors may stay away from this risky & pricy
Sahaj Solar Limited was founded in 2010 and is a provider of renewable energy solutions. The company has three
business units: PV module manufacturing: The company's PV module manufacturing facility is located at Bavla,
Ahmedabad, Gujarat. It is spread over an area of 2,883.77 square metres and has a building of 2445.5 square metres
comprising both factory and office space. The plant has a capacity of 100 MW. The company's automated manufactur-
ing facility offers mono and polycrystalline PV modules for various solar projects in India and abroad. The facility also
manufactures a mono PERC (Passivated Emitter and Rear Contact) module.
Issue Details Financial Performance
• Issue Opens on 11th July & Closes on 15th July 2024 Consolidated Basis
• Object of the issue : Working Capital Requirements of the Company Particulars (Rs. Cr.) FY21 FY22 FY23 9MFY24
and General Corporate Purposes. Total Revenue 62.19 67.24 185.80 61.10
• Issue Size : 29,20,000 Share ; Rs 52.56 Cr Profit After Tax 0.71 1.03 6.48 2.07
• Offer price Rs. 171 to 180 • Lot Size : 800 Share EPS 0.76 1.31 8.11 --
• Listing on : NSE SME • BRLM : Kunvarji Finstock Pvt Ltd RONW (%) 6.45 10.21 38.78 --
• Registrar : Kfin Technologies Limited
• Company Management : Pramit Bharatkumar Brahmbhatt, Varna Pramit Brahmbhatt, and Manan Bharatkumar
Brahmbhatt
• Market Cap : Rs. 197.75 Cr.
• Pre Issue Promoter Holding : 97.09%
• Pre IPO Eq. Capital Rs. : 8.07 Cr. • Post IPO Eq. Cap. Rs. 10.90 Cr.
• Pre IPO : P/BV Ratio 8.91 (NAV : 20.19)
• Pre IPO P/E Ratio : 22.39 • Post IPO asking P/E on fully diluted equity : 47.65
• Industry Peer Group PE Ratio : 117.18
• The Average cost of acquisition of equity share by the promoter is Rs 0.21, Rs 19.69 & 0.05 per share and offer price
is Rs 180 per share.
• It has issued bonus shares in the ratio of 4.5 on 17th March 2018 and 1:2 on 30th January 2023 before filing DRHP.
• Apart from initial equity at par the company issued further equity share in the price range from Rs 10 to Rs 167 by the
way of Rights & Preferential issue between January 2015 to January 2024.
• Company registered office is on lease
• Top-10 customers contribute 85.07% of total sales.
• Company's highly dependent on few suppliers
• It has only one Manufacturing Facility.
• The company had reported negative cash flow in the past.
• It has received notice from MSME for the delayed payment.
Recommendation : Sahaj Solar Ltd. Is a provider of renewable energy solutions. It has posted
consistent growth in its financial performance for the last two fiscal. However Sudden 176% jump
in top lines and 533% jump in bottom line for FY23 are surprising. We annualized 9MFY24 earnings
the company has reported over 50% sharp d-growths in top & bottom line. On valuation front con-
sidering P/BV of 8.91 (based on FY23 NAV of 20.19) and PE of 47.65 issues appears exorbitantly
priced. Investors may stay away from this pricey issue.
Note: Company RHP is not available on any sites hence review is based on DRHP Figures.
Financial Weekly TM

Bhandari Hosiery Exports Ltd. Rights Issue
Opens on 8th July & Closes on 22nd July, 2024
Offer price Rs. 6.26 per Share; Listing on BSE & NSE
BSE : 512608 (FV Rs 1) • CMP : 7.88 (5-7-24) • 52WH : 11.35 • 52WL : 3.86
This is the second rights issue after October 2023; the first rights issue came in October 2023
It has posted steady growth in its financial performance for last two fiscal
If we annualized it has reported setback in top line for 9MFY24
Company pays 1% dividend for last 3 years: Promoters holding is 27.63%
On valuation front issue appears fully priced ; Operates highly competitive segment
Shareholders having cash surplus may apply with moderate fund in this risky bet
Founded in 1993, Bhandari Hosiery Exports Limited (BHEL) is engaged in the manufacture of
knitwear and garments. BHEL manufactures, processes and trades in knitwear and garments as
well as dyed and undyed fabrics. The company's product list includes T-shirts, sweaters, sweatshirts,
barmudas, polo shirts, tracksuits, pyjamas, undershirts, knitted women's tops with embroidery and
prints, etc. These products are sold both on the domestic and foreign markets.
Issue Details Financial Performance : Consolidated Basis
Particulars (Rs. Cr.) FY 20 FY 21 FY 22 3Q 4FY 24
th nd
• Issue Opens on 8 July & Closes on 22 July, 2024 Total Revenue 226.07 283.44 283.31 177.94
Profit After Tax 1.67 6.27 6.51 4.90
• Object of the Issue : To meet the long-term working
capital requirements of the company; and General Purposes
• Issue Size : 7,66,11,591 Share ; Rs 48.19 Cr • FV Rs. 1 • Issue Price : Rs. 6.26 per Share
• Market Lot : 1 per Share • Listing on BSE & NSE
• Entitlement : 15 Rights Equity Share(s) for every 32 fully paid-up Equity Shares held on Record
Date : 19-6-2024 • Deemed Date of Allotment : 26-7-2024
• Lead Manager : Self Managed • Registrar : Link Intime India Private Ltd
• Pre IPO Equity Capital Rs. 16.34 Cr. • Post IPO Equity Capital Rs. 24.01 Cr.
• Cum Right basis at Rs. 8.74 (18-6-2024) • ex Right basis at Rs. 7.95 (19-6-2024)
• Since then, It has marked a high/low of Rs. 8.30/ Rs. 7.56 • It last closed at Rs. 7.81 (4-7-2024) •
52 Weeks high / Low of Rs. 11.35 / Rs. 3.86
Recommendation : - This is the 2nd Rights issue from the company since October 2023.
The First Rights issue was at a price of Rs 4.50. It has posted steady growth in its financial
performance for the last two fiscal. If annualized 9MFY24 earnings, then it has registered set
back in top line and bottom lines remained in line. Promoters holding are 27.63. It has paid
1% dividend for last three fiscal. On valuation front issue appears fully priced. Shareholders
having cash surplus may apply with moderate funds in this risky bet.
Financial Weekly TM

SEPC Limited Rights Issue
Opens on 5th July & Closes on 19th July, 2024 ; Offer price Rs. 13
BSE Code : 532945 • CMP : 19.48 (4-7-24) • 52WKH : 26.73
This is the company's third rights issue since April 2023
The company has shown huge losses in FY22 and FY23 and turn around in FY24
Considering Strong order booking, robust clientele & RI 53% discount to CMP
Shareholders may consider to apply for long term perspective
Established in 2000, Shriram EPC Limited (SEPC) is an end-to-end engineering, procurement,
and construction (EPC) solutions provider offering multidisciplinary services and project manage-
ment solutions. SEPC Limited stands for "Solution Engineering Procurement Construction" and
focuses on providing turnkey solutions in two main business areas: 1. Infrastructure, including
water and wastewater utilities, and road construction. 2. Process and metallurgy, including pro-
cess plants, steel mills, mine development, and power plants.
Particulars (Rs. Cr.) FY 22 FY 23 FY 24
th th
• Issue Opens on 5 July & Closes on 19 July, 2024 Total Revenue 340.59 398.88 607.21
Profit After Tax -(263.70) -(4.90) 22.78
• Object of the Issue : Repayment/Pre-payment, in full or part,
of certain borrowings availed by the Company; To augment the existing and incremental work-
ing capital requirement; General Corporate Purposes.
• Issue Size : 15,38,46,153 Share ; Rs 200 Cr • FV Rs. 10 • Issue Price : Rs. 13 per Share
• Market Lot : 1 per Share • Listing on BSE & NSE
• Entitlement : 6 Rights Equity Share(s) for every 55 fully paid-up Equity Shares held on Record
Date : 25-6-2024
• Lead Manager : Sumedha Fiscal Services Limited • Registrar : Cameo Corporate Services
• Pre IPO Equity Capital Rs. 1409.81 Cr. • Post IPO Equity Capital Rs. 1563.66 Cr.
• Cum Right basis at Rs. 20.47 (24-6-2024) • ex Right basis at Rs. 19.50 (25-6-2024)
• Since then, It has marked a high/low of Rs. 20.05 / Rs 18.56
• It last closed at Rs. 19.57 (3-7-2024) • 52 Weeks high / Low of Rs. 26.73 / Rs.8.89
Recommendation : - Shriram EPC is engaged in EPC contract Business. This is the
company's third rights issue after April 23. The company has recorded a huge loss in FY22
and FY23. The company has come to a turnaround position in 2024. The promoter holding
was reduced to 26.96 percent from 27.75 percent. Considering over Rs 950 Cr. order. Which
1.2x to its FY24 turnover, robust client and 33% discount to its CMP. High risk taker inves-
tors may consider to apply for long term perspective.
Financial Weekly TM

Edelweiss Financial Services Limited NCDs Issue
Opens on 8th July & Closes on 22nd July, 2024
Offer price Rs. 1000 per NCD; Listing on BSE
Company's 12th debt offering since December 2020: the last NCDs issue was in April 2024
It has posted robust growth in top & bottom lines for the last two fiscal
Post-Issue Debt Equity Ratio Increases to 3.38: Credit Rating Downgrade Compared to Previous
Considering Strong financial performance, attractive coupon rate and A+ watch negative rating
Risk taking investors may apply with moderate fund for medium term
Incorporated in November 1995, Edelweiss Financial Services Limited (EFSL) is a Mumbai-
based investment banking firm and Merchant Banker. Edelweiss provides retail and corporate
credit, asset management including mutual fund and alternatives asset management, asset recon-
struction, insurance both life and general insurance, and wealth management services through its
subsidiaries. Edelweiss Group comprises 27 subsidiaries as of March 31, 2024.

• Issue Opens on 8th July & Closes on 22nd July 2024 Total Revenue 721.26 8632.59 9601.58
Profit After Tax 21.21 405.56 528.05
• Object of the issue : For repayment/prepayment of
interest and principal of existing borrowings of the Company and General Purpose.
• Base Issue Size : Rs. 100 Cr., Oversubscritpion Rs. 100 Cr ; Overall Size Rs 200 Cr
• Issue Price : Rs. 1000 NCDs • Minimum Lot Size : 10 NCDs
• BRLM : Trust Investment Advisors, Nuvama Wealth Management Limited
• Registrar : Kfin Technologies • Rating : CRISIL A+/Watch Negative by CRISIL Ratings
• Tenor : 24, 36, 60 and 120 Months ; • Coupon Rate : 9.50% to 11%
• Category : Institution : 10%, Non Institutation : 10%, HNI : 40%, Retail : 40%
Recommendation : - This is the company's 12th debt offer since December 2020; the
last offer was in April 2024. In the last two financial years, the company has registered
strong growth in the top-bottom line. The post issue debt/equity ratio has increased to
3.38. The company has increased the coupon rate for this offer along with a slight
downgrade in its credit rating. Considering the strong financial performance, A+ Watch
negative credit ratings and an attractive coupon rate of 9.50 per cent to 11 per cent,
investors may consider to apply with moderate funds for 36 to 60 Months.
Financial Weekly TM

Reliance Jio IPO: MASSIVE Rs 55500 Crore!
Mukesh Ambani's company may
launch India's biggest IPO ever
Reliance Jio might be working on to launch an initial public offering (IPO). Jefferies expects this
could be India's biggest ever IPO in size. The biggest IPO in India so far has been Life Insurance
Corporation's (LIC) over Rs 21,000 crore.
Reliance Jio IPO: Mukesh Ambani's Reliance Jio Infocomm might be preparing to make a debut
on the D-Street,
"Reliance Jio Infocomm taking the lead in raising mobile tariffs and moving to monetise its 5G
business could be an indication of the telecom market leader readying for an initial public offering
that could be India's largest, analysts said. Some of them expect an IPO as soon as early next year,
Reliance Industries (RIL) is likely to hold its annual general meeting (AGM) in August, and ana-
lysts and industry experts will be seeking clarification from the oil-to-textile conglomerate's man-
agement on Jio's IPO.
Brokerage firm Jefferies said it would look out for any developments on Jio's listing at the up-
coming RIL AGM, adding, "Rising focus on monetization could be a precursor to its imminent list-
ing."
Following the latest tariff hike and 5G monetisation moves, Jio is valued at around $133 billion
(Rs 11.11 lakh-crore), according to Jefferies. At this valuation, a Jio IPO could turn out to be India's
largest by far. Current rules require companies with a valuation of Rs 1 lakh crore or more to sell at
least a 5% stake in the IPO (for smaller companies, the minimum is 10%), which means Jio's share
sale could be worth Rs 55,500 crore based on current valuation assigned by Jefferies.
The biggest IPO in India so far has been state-run Life Insurance Corporation's (LIC) over Rs
21,000 crore offer in 2022, when it sold only a 3.5% stake as a special case. Hyundai Motor's India
unit, meanwhile, sought regulatory clearance last month for an IPO to raise as much as Rs 25,000
crore by selling a 17.5% stake.

Financial Weekly TM

MIC Electronics Ltd
Rs 86.00 • BSE: 532850 NSE: MICEL
MIC Electronics Ltd. Receives Approval for Emergency
Lighting System fromthe Ministry of Railway
Corporate SCAN
MIC Electronics Limited (BSE: 532850, NSE: MICEL),
a global leader in the design, development, and manufac-
turing of LED video displays, has announced that Ministry
of Railways approved the capacity cum capability assess-
ment of the company for Emergency Lighting System for
EOG Type LHB AC & NAC Coaches.
Earlier, the company announced that it closed its QIP
issue, and the board approved the issue and allotment of
1,95,65,217 equity shares to eligible qualified institutional
buyers at the issue price of Rs 46 per shares. Amongst
the QIBs, the company allotted shares to Antara India
Evergreen Fund Ltd., Coeus Global Opportunities Fund,
and Minerva Ventures Fund.
Recently the company had announced that it received
a Letter of Acceptance from the Firozpur Division of the
Northern Railway Zone for the provision of coach guid-
ance display boards at major and important stations in the
Firozpur (FZR) Division. The aggregate value of the said
work order is Rs. 3,04,95,149.54/-. Further, the company
has received a Letter of Completion/Installation Certificate
from Rajkot Division of Western Railway Zone for the
completion of DWK PF-1 CGDB and IPIS System work at
Hapa station
Earlier, the company had announced that it had incorporated a subsidiary, i.e. M/s. SOA Electronics Trading LLC, a
wholly owned subsidiary of MIC Electronics Limited in Dubai, UAE.
MIC Electronics Limited is a global leader in the design, development, and manufacturing of LED video displays,
high-end electronic and telecommunication equipment, and the development of telecom software since 1988. An ISO
9001:2008 and ISO 14001:2004 certified company, it has established a strong presence in the dynamic fields of LED
Video, Graphics, and Text Displays, LED Lighting Solutions, Embedded, System, and Telecom Software and Commu-
nication and Electronic Products.
MIC's flagship products, LED video displays (indoor, outdoor, and mobile), have become integral to sports stadiums,
transportation hubs, digital theatres, theme parks, advertisements, and public information displays.
Headquartered in Hyderabad, one of India's fastest-growing IT cities, MIC has a nationwide presence through a vast
network of marketing, sales, and service support centers in all major metropolitan areas of India. The company is also
expanding its operations into international markets.
MIC has been a pioneer in developing and implementing a wide range of products and services in LED displays,
telecom software, IT services, and communication and electronic products. Among its many achievements, MIC is
notably the first company to receive TEC approval for its indigenous telecom equipment, the Digital Loop Carrier. Since
venturing into the export market in 1994 and beginning on-shore software development contracts in 2005, MIC's accom-
plishments reflect its expertise, profound market knowledge, and commitment to innovation.
***
Financial Weekly TM

Smart Best Buy S. N. Zaveri
Havells India : Q1 expected to be much better
Bajaj Finance: AUM jumps in Q1, Franchise rose to 88.11 million
KPIT Technolgoies : Multibagger IT stock, Accumulate
Maruti Suzuki: Strong sales data in domestic market as well export
Bata India : Q1 numbers are expected to be much better
Havells India (Rs 1894.00) : Electrical Consumer Durable (ECD) companies like Havells
India have seen strong Q4FY24 sales and continuing seasonal demand across fans, air coolers,
and room air conditioners (RAC) in addition to business-to-business sales of cables, switchgear,
and professional lighting, among others. Havells India’s Q4FY24 revenue rose 12 per cent year-
on-year (Y-o-Y) to Rs 5,400 crore, in-line with consensus. Strong summer demand led to robust
volume growth in fans and RAC and volume growth in cable and wires (C&W) due to infrastructure
spending and real estate activity. Gross margin improved 230 basis points Y-o-Y to 32.8 per cent.
Meanwhile, Havells India: Havells India is planning to expand its existing manufacturing capaci-
ties of Air Conditioners at Ghiloth and Sricity locations to 15 lakh units per annum at each location,
from the existing 9 lakh and 11.2 lakh units, respectively, in order to cater to the increased demand.
As AC demand jumped manyfold in this Summer, Q1 results are expected to be much better. Buy.
Bajaj Finance (Rs 7138.00) : Leading non-banking finance company (NBFC) Bajaj
Finance on Wednesday reported a 31 per cent Year-on-Year (YoY) increase in Assets Under
Management (AUM) in the quarter ended June 30, 2024. The NBFC’s AUM rose to Rs 3.54 trillion
as of June 30, up from Rs 2.70 trillion in the year ago period. AUM in Q1 FY25 grew by approxi-
mately Rs 23,500 crore. New loans booked during Q1 FY25 improved by 10 per cent to 10.97
million as compared to 9.94 million in the corresponding quarter of FY24. Bajaj Finance resumed
sanction and disbursal of loans under ‘eCOM’ and ‘Insta EMI Card’ and issuance of EMI cards
after the RBI removed the restrictions on these businesses on 2 May 2024. The deposits book of
the company rose by 26 per cent to Rs 62,750 crore from Rs 49,944 crore as of June 30, 2023.
Consolidated net liquidity surplus of the firm was nearly Rs 16,200 crore during the period under
consideration, it said adding the company’s liquidity position remains strong. Further, the customer
franchise of the company rose to 88.11 million from 72.98 million as of June 30, 2023. It had in-
creased by 4.47 million in Q4 FY24. Buy
KPIT Technologies (Rs 1693.00) : Shares of KPIT Technologies have clocked

multibagger returns in the last three years. The multibagger stock, which closed at Rs 256.7 on
July 2, 2021 rose to a record high of Rs 1773.90 last week, clocking 591% returns during the
Cont...
Financial Weekly TM

period. In comparison, the benchmark BSE 500 index has climbed 68.38% in three years. The
stock corrected a bit fater hitting new high and now trading at around Rs.1680. KPIT Technologies
Limited is a technology company, which is focused on automobile engineering and mobility solu-
tions. The company offers electronic and mechanical engineering solutions to its customers. It also
analyses data for diagnostics, maintenance and tracking of assets and related connectivity solu-
tions, including data and analytics beyond embedded or mechanical engineering and their con-
nectivity and integration with back-end information technology (IT) systems and platforms for the
automobile and mobility sector. The IT firm is yet to announce its earnings for the quarter ended
June 2024 which is expected to be good. Buy.
Maruti Suzuki (Rs 12106.00) : India's largest car marker Maruti Suzuki reported strong
double-digit sales growth in June, selling 1.79 lakh units which was higher by 12.4 percent com-
pared to a year ago. The strong show in June was backed by a 57 percent year-on-year rise in total
export sales at 31,033 units. Maruti's total domestic Passenger Vehicle sales (PV) was at 1.37 lakh
units, marginally higher compared to a year ago. The sale of the company’s utility vehicles, which
include Brezza, Ertiga, Fronx, Jimny, and XL6, rose 21.12 per cent to 52,373 units in June 2024,
compared to 43,404 units in June 2023. Eeco also fuelled the company's sales growth; its sales
increased 15.14 per cent to 10,771 units in June 2024, compared to 9,354 units in June 2023.
Maruti Suzuki India's export sales also went up 56.97 per cent to 31,033 units in June 2024, as
compared to 19,770 units in June 2023. In the first quarter (April to June), sales for the company
went up by 4.78 per cent to 521,868 units as compared to 498,030 units in the same quarter the
previous year. Invest.
Bata India (Rs 1507.00) : Bata India reported better Q4 numbers. Net Sales was at Rs
797.87 crore in March 2024 up 2.48% from Rs. 778.59 crore in March 2023. Quarterly Net Profit at
Rs. 63.65 crore in March 2024 down 3.01% from Rs. 65.62 crore in March 2023. EBITDA stands at
Rs. 204.18 crore in March 2024 up 6.34% from Rs. 192.00 crore in March 2023. Bata India EPS
has decreased to Rs. 4.95 in March 2024 from Rs. 5.11 in March 2023. The stock is up on expec-
tations of a recovery in the value segment, new launches and measures by the new government to
boost consumption. The third largest footwear maker by market capitalisation is poised for strong
Q1 numbers. Accumulate.
* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month • All stocks rates / indices on
5th July, 2024 unless specified Stoploos is useful for Short - Medium term investors only
* Disclaimer :- • Smart Investment will not be responsible / for any loss arising out of investment based on its recommendation. • Though,
every care has been taken, we will not responsible for any errors / omissions • All disputes are subject to Ahmedabad jurisdiction
Financial Weekly TM

Keep Eyes on Hosuing,
Power and Metal stocks
Col Ajayastromoneyguru
This week of calander year 2024 is represented by planet

known as Saturn and year 2024 represented by planet
known also as Saturn. Previous week SAIL 6%, Chambal Fertilizer 3.5%,
HDFC life 3%, seen good up trend as per Expection .Up trend seen as
per our recommendation . Now this week Venus and Mercury are to-
gether in Moon house. As per Astro Economics this power, metal , hous-
ing Finance, stocks should be under watch . Keep Eyes on Lic housing
Finance, Hind copper, NHPC, for investment The above recommenda-
tion are purely for research purpose, take advise for your financial advi-
sor for taking any financial decision.
Financial Weekly TM

Mangalam Global Enterprises Ltd • NSE: MGEL • CMP - Rs. 27
Announces Major Developments,
Foray in to Cold Press Pharma Grade Castor Oil
Corporate SCAN
Mangalam Global Enterprises Limited (MGEL), the ag-
ricultural vertical of Group Mangalam, is proud to an-
nounce significant advancements in its castor oil seg-
ment. This segment has been a cornerstone of MGEL's
entry into the agricultural sector and continues to drive
substantial growth for the company. With a strategic fo-
cus on castor oil production and export, MGEL has es-
tablished itself as a leader in the industry, providing top-
quality products to clients worldwide.
MGEL sources its castor seeds primarily from Gujarat
and Rajasthan, with Gujarat alone accounting for over
86% of domestic castor seed production. The company's
state-of-the-art manufacturing facilities in Kapadwanj,
Gujarat, are equipped with advanced technology and ma-
chinery, allowing for efficient and large-scale production
of castor oil and its derivatives. The facility boasts a cas-
tor seed oil mill, a solvent extraction plant, and a highly
efficient refinery, ensuring the highest standards of prod-
uct quality and purity. Now, along with its existing grades
of Castor Oil production, now company has finalized to
produce "Cold Press Pharma Grade Castor Oil" also.
The acquisition of a castor and cotton seeds process-
ing plant in Kapadwanj a few years ago has further strengthened MGEL's production capabilities. This fully automated
plant, spread over 47,000 square yards, includes a cotton ginning and pressing unit, a cotton seed oil mill, and a cotton cake
unit. MGEL's extensive knowledge and experience in the castor oil business have enabled the company to achieve optimal
results despite global competition and business challenges. The company has doubled its production capacity over the
past few years, reflecting its commitment to growth and innovation.
MGEL's castor oil products, including Castor Oil (FSG), PPG, Castor De-Oiled Cake (DOC), and High Protein Castor De-
Oiled Cake (Highpro DOC), are among the most sought-after in the global market. The company exports these products to
numerous countries, including China, Europe, Thailand, Turkey, and the USA, while the de-oiled cakes are primarily
exported to South Korea and Taiwan.
MGEL is also excited about the emerging opportunities in the organic castor oil market. Organic castor oil, extracted
through the cold-pressed method, retains its natural aroma, flavor, and antioxidants, making it ideal for use in skin and hair
care products. This 100% pure, hexane-free oil offers numerous health benefits, including enhanced nutrient and antioxi-
dant retention. The pharmaceutical grade castor oil, used as a stiffening agent, laxative, and tablet-capsule lubricant, is
experiencing exponential market growth, driven by its application in oral medicine, topical treatments, injection medicine,
and other pharmaceutical products.
The Pharma Grade Castor Oil Market size is expected to see exponential market growth at a remarkable CAGR during
the forecast period from 2023-2030. The growth of the market can be attributed to the increasing demand for Pharma Grade
Castor Oil owning to the Oral Medicine, Topical Medicine, Injection Medicine, Others Applications across the global level.
Group Mangalam is a multinational conglomerate, with a rich legacy of 8 decades spanning from 1942 when it was
founded in Beawar, Rajasthan. Led by our dynamic chairman Mr. Vipin Prakash Mangal, Group Mangalam has strategic
interests in various crucial industries like Agriculture (Mangalam Agri), Stainless Steel (Mangalam Saarloh), E-waste
Management (Mangalam ECS), Specialty Chemicals (Mangalam Dura) and Structured Finance.
Group Mangalam Worldwide works towards inclusive growth for all by being a leading corporate citizen and contributing
towards the betterment and well-being of the society. Alongside Mr. Vipin Prakash Mangal, the group is being led by his
sons, Mr. Chanakya Prakash Mangal and Mr. Chandragupt Prakash Mangal. Together, they are taking forward the proud
legacy of the group, of development of the society with emphasis on fulfilment of the fundamental needs of the people,
providing quality products and services, setting new trends in the industries and upholding all the stakeholder's confidence
through innovation, continuous improvement and growth.
***
Financial Weekly TM

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

" 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.
08-07-2024 Monday :- Ganesha is still seeing good strength in this week too, but
today- 9.15 to 9.55 Nifty jobbing with strength around the surface. Profit booking comes
from 9.55 to 12.15 Nifty. 12.15 to 13.55 Nifty up. 13.55 to 15.30 Nifty mix to remain
negative.
09-07-2024 Tuesday :- If today's opening is estimated, a policy of wait and watch
should be adopted. For Nifty to form between 9.45 to 13.00 (W shape graph), wait for a while
and then prepare positions accordingly. 13.00 to 13.45 Nifty remains up, but this time is
solid risk, as the next slot is of selling pressure. Selling pressure increases after 13.45 and
lastly Nifty will try to "maintain".
10-07-2024 Wednesday :- Today Moon is in aspect of Saturn, so you will find the
market boring so you can take total 3 trades today to play fast. Trade - 1 = Short sell with
high-risk in Nifty around 9.45 and exit if the price falls by 11.40. Trade - 2 = Buy Nifty around
11.50 and exit around 13.35. Trade - Short sell around 3 = 13.50 and keep the limit in Down's
computer to square off the trade.
11-07-2024 Thursday :- Next week is Muharram trading holiday on 17-07-2024 in the
market, so make positions accordingly. Today to take an overall view in 2 slots- Slot - 1 =
9.15 to 13.55 Nifty remains up overall (small correction around 10.30 in between) Slot - 2 =
13.55 to 15.30 Nifty remains down overall.
12-07-2024 Friday :- Today's opening can be called uneven. Slot - 7 - Date 14-07-
2024 to 30-07-2024 (11 trading days) Read the slot once in the book. There will be a lot of
confusion as Moon and Ketu are together today. Trade - 1 = 9.15 to 9.45 Nifty up. Trade -
2 = 9.45 to 11.45 Nifty mix to remain down. Trade - 3 = 11.45 to 13.45 Nifty goes up. Trade
- 4 = 13.45 to 15.30 Nifty mix to remain negative.
Financial Weekly TM

News Track
Echon Expands Domestic Distribution in India,
Bringing 25 Years of Global Expertise in Innovative Building Materials
Echon, a globally recognized manufacturer of innovative
building materials for home interiors, exteriors, and signage,
announces its strategic expansion into the Indian market. With
over 25 years of international experience and a robust global
presence, Echon aims to revolutionize India's construction
and home improvement sectors with eco-friendly and cutting-
edge solutions.
Echon's structured five-phase expansion into India marks
the beginning of an extensive distribution network starting from
Gujarat. The company is poised to cater to the evolving needs
of Indian consumers across residential, commercial, and industrial segments. Central to this launch
is the introduction of its flagship product, 'Masterboard', designed to redefine standards in con-
struction, renovation, and signage solutions. These offerings emphasize durability, cost-effective-
ness, and modern design, addressing the burgeoning demand in India's real estate and infrastruc-
ture sectors.
Any business litmus test of a good team, products, and experience is how consistently profitable
the organization is. Echon is not only a debt-free company with cash reserves, showing an excep-
tionally strong financial position to capitalize on future growth possibilities, reflecting efficient use
of capital. The 60% plus year-over-year growth from 2022 to 2023 reflects Echon's strategic initia-
tives and market expansion capabilities with customer acceptance of its value proposition and
excellent quality.
About Echon: Echon is India's foremost manufacturer of PVC building materials and signage,
boasting over 25 years of global expertise. Renowned for its advanced technology and diverse
product portfolio, Echon offers unparalleled quality across interior and exterior applications. The
company is celebrated for its extensive in-house fabrication capabilities and commitment to sus-
tainable practices.
Financial Weekly TM

News Track
Eraaya Lifespaces, Consortium’s Bid Accepted following auction
process, Secures Ebix Acquisition at Enterprise Value of $361M
Eraaya Lifespaces Ltd. (BSE: 531035) announced that the bid for the acquisition of 100% of the
equity of Ebix Inc. (“Ebix”) submitted by the consortium led by Eraaya has been approved and
accepted as the highest and best bid for Ebix and declared as the winner following the auction
process overseen by the U.S. Bankruptcy Court. Ebix ascribes the bid at an enterprise value of
about $361 million. (INR 3,009 Crores approximately). The acquisition will be effectuated through
Ebix’s Plan of Reorganization proposed in its Chapter 11 proceedings, which is subject to ongoing
negotiations among the consortium, Ebix, and Ebix’s creditors and other stakeholders. On June
27, 2024, the U.S. Bankruptcy Court allowed the Plan of Reorganization to be sent to creditors for
voting and has scheduled a hearing to consider approval of the plan for July 30, 2024. 7.25 Million
(INR 60.4 Crores approximately) as a commitment deposit to support the bid. The consortium will
be remitting another US$ 42.5 Million (INR 354 Crores approximately) in three instalments by 23rd
July 2024 and the balance (final payment) for the acquisition amounting to US$ 95.25 Million (INR
793.8 Crores approximately) by 30th July 2024.
One Point One Solutions Secures A New Client-Win With

India’s Largest Integrated Power Company
Within The Energy And Utility Industry
One Point One Solutions Limited, a leading provider in technology-enabled business process
management (BPM) services, announces a significant client win within the Energy and Utility in-
dustry. This partnership is with one of India’s largest and most renowned integrated power compa-
nies. The esteemed company, a key component of India’s largest conglomerate, operates as an
Indian electric utility and electricity generation entity based in Mumbai, India. The company has
been a pioneer in technology adoption, with many firsts to its credit, supporting the country’s en-
ergy independence. With a distinction of being among the top private players in each sector of the
value chain including solar rooftop and value-added services, the brand is credited with steering
the energy sector on technology, process and platform. The brand has now over a century of ex-
pertise in technology leadership, project execution excellence, world-class safety processes, cus-
tomer care and driving green initiatives committed to 'lighting up lives' for generations to come.
Financial Weekly TM

InfiniumPharmachem Ltd.
NSE - INFINIUM • CMP - RS. 229
Commences Construction of New Project for
manufacturing Contrast Media Raw Materials
InfiniumPharmachem Ltd is pleased to announce the commencement of
construction activities for its new Project dedicated to manufacturing contrast
media raw materials. The groundbreaking ceremony will take place on July 6,
2024, at 8:00 AM at Plot No. 1, GIDC Sojitra, Dist. Anand, Gujarat. The project,
spanning 1,114 square meters, marks a significant expansion for
InfiniumPharmachem Ltd. This strategic move into the production of contrast
media raw materials is anticipated to substantially boost the company's rev-
enue, contributing to its growth and market presence in the pharmaceutical Corporate
industry.
InfiniumPharmachem Limited (NSE: INFINIUM) is headquartered in Anand, SCAN
Gujarat. The company is manufacturer of Iodine Derivative and Pharma Intermediates and Active Pharma-
ceutical Ingredients (APIs). The Company undertakes Contract Research and Manufacturing Services (CRAMS)
to provide customized and fully confidential solutions to its clients.
At InfiniumPharmachem Limited, the primary focus is on iodine chemistry, which is the company's core
area of expertise. Since 2003, InfiniumPharmachem has been dedicated to working as a Contract Research
and Manufacturing Services (CRAMS) provider,
with a specialization in iodine derivatives and iodi-
nation processes. The company manufactures
and supplies a wide range of superior quality io-
dine derivatives and active pharmaceutical ingre-
dients (APIs).
InfiniumPharmachem offers fully integrated cus-
tomized services, from research and development
to commercial scale manufacturing and packaging,
catering to the pharmaceutical, agrochemical,
nutraceutical, specialty chemicals, and various other
chemical industries. The company supplies iodine
derivatives on an order-to-made basis, while also
maintaining a ready stock of many in-demand prod-
ucts.
L to R : Mr. Mitesh Chikhaliya, Mr. Sanjay Patel and Over the years, InfiniumPharmachem Ltd has
Mr. Pravin Madhani shown robust performance, attracting investors
with its consistent growth and strong financials. The
company's revenue has seen a steady increase,
driven by both organic growth and strategic ex-
pansions. Its commitment to innovation and main-
taining high-quality standards has earned it a repu-
table position among its peers.
The company has been proactive in expand-
ing its production capabilities and enhancing its
product offerings. Infinium Pharmachem has been
actively exploring new markets and forging strate-
gic partnerships to bolster its global presence.
***
Financial Weekly TM

News Track
Ajooni Biotech Limited Secures Prestigious Order Worth

Rs 4.95 Crores from One of Asia's Largest and
India's Top 10 Dairy Suppliers
Ajooni Biotech Limited (NSE: AJOONI), Ajooni Biotech Limited is a PURE VEG. animal health
care solutions company. It stands as a trailblazer, innovator, and frontrunner in the realm of animal
feed production, prioritizing excellence in quality, safety, and production innovation, along with a
commitment to delivering exceptional customer service. Ajooni is pleased to announce the receipt
of a significant prestigious order valued at ? 4.95 crores from one of the largest dairy suppliers in
Asia and among the top 10 in India. This milestone reflects the growing confidence in Ajooni
Biotech's products and its commitment to expanding its market presence. In the organized listed
space, Ajooni biotech is the 1st PURE VEG. Cattle Feed & PURE VEG. feed Supplement Pro-
ducer in the Industry.
The prestigious order will be executed within a three-month period, after which company will
actively pursue additional opportunities. The dairy supplier has shown keen interest in Ajooni
Biotech's PURE VEG. Cattle feed and PURE VEG. Supplements, underscoring the quality and
effectiveness of its offerings.
In addition to this promising domestic development, Ajooni Biotech Limited has successfully
initiated exports to TWO countries and is actively seeking further international opportunities. The
company is dedicated to maintaining this momentum and fostering strong, long-term relationships
with its clients. Ajooni Biotech remains optimistic about its growth trajectory and is committed to
delivering consistent, high-quality products to its expanding customer base.
Commenting on the order, Mr. Jasjot Singh, MD & CFO, Ajooni Biotech Limited: "We are thrilled
to receive this significant prestigious order from such a prestigious dairy supplier. This order not
only reflects the trust and confidence in the quality of our PURE VEG. cattle feed and PURE VEG.
supplements but also underscores our commitment to excellence and market expansion. Suc-
cessfully initiating exports to three countries and now securing this prestigious order are testa-
ments to our team's hard work and dedication. We look forward to building strong, long-term rela-
tionships with our clients and continuing to drive growth and innovation in the agricultural sector."
With the PURE VEG cattle feed and supplement feed operations running on autopilot, Ajooni
Biotech Limited is now focusing on Moringa. Successful research and commercial production are
set to commence in FY 2025-26. Moringa oil, extracted from the seeds, is a viable feedstock for
biodiesel and aviation fuel. Additionally, the bark of the Moringa tree can be utilized to produce
activated carbon.
Financial Weekly TM

Performance of “SMART PLUS NEWS LETTER”
Amazing 18% RETURN of our last News Letter Recommendation
SMART GAIN FOR SMART INVESTORS
Company Reccom. High after Ch. Company Reccom. High after Ch.
1-7-24 Recomm. (%) 1-7-24 Recomm. (%)
Trent 5478.45 5596 2.15 Wipro 515 530 2.91
GRASIM 2637 2735 3.72 Infosys 1573 1649 4.83
GE Shipping 1225 1239 1.14 HDFC Bank 1684 1726 2.49
CAMS 3600 3724 3.44 ICICI Prud. 605 633 4.63
Bombay Burmah2033.1 2066 1.62 Arrow Granite 564 572 1.42
Vardhman H. 4037 4114 1.91 Indus Tower 375 404 7.73
Tega Ind. 1635.75 1764 7.84 Atul Auto 677 793 17.13
Adani Port 1485 1503 1.21 City Union Bank 168 172 2.38
Mahanagar Gas 1596 1666 4.39 Texmaco 248 254 2.42
Olectra Green 1770 1801 1.75 Zomato 200 207 3.5
Dixon Techno 11968 12654 5.73 MIC Ele. 82 90 9.76
Star Health 558 587 5.2 Udaipur Cement 45 46 2.22
Aether Ind. 923 926 0.33 BEL 305 317 3.93
Chola Invest 1422 1450 1.97 Prime Focus 122 144 18.03
Vedanta 459 468 1.96 Suryalaxmi Cotton 78 87 11.54
ICICI Bank 1219 1233 1.15 Tata Steel 174 176 1.15
If you want to get benefit of it..... Subscribe

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

REVIEW OF Smart Bonanza
Issue No. : 11 • Date : 3-7-2024
Company Reccom. High after Ch. Company Reccom. High after Ch.
3-7-24 Recomm. (%) 3-7-24 Recomm. (%)
IndoWind Ener. 29 30 3.45 Garden Reach 2404 2670 11.06
GSPL 300 306 2.00 Coforge 5655 5899 4.31
EPL Ltd 218 233 6.88 Hero Moto 5554 5559 0.09
Heidelberg 228 231 1.32 Solar Ind 11007 12247 11.27
BLS Intl. 371 376 1.35 GNFC 716 728 1.68
IRFC 171 189 10.53 Chola Fin 1399 1422 1.64
Star Health 569 580 1.93 Cochin Shipyard 2260 2684 18.76
HDFC LIfe 590 608 3.05 CAMS 3754 3784 0.80
Swan Energy 620 626 0.97 Uno Minda 1150 1159 0.78
Carysil 855 855 0.00 Arrow Green 561 572 1.96
Bata India 1495 1508 0.87 Persistent Sys 4498 4749 5.58
BirlaCorp 1590 1614 1.51 Hero Moto 5554 5559 0.09
for more detail click the below link

https://smartinvestment.in/service/9
Financial Weekly TM
TM
Financial Weekly
Editor : Dilip K. Shah
ARCHI PUBLICATIONS
311 to 313, Nalanda Enclave, Pritamnagar 1st Dhal, Ellisbridge, Ahmedabad-6. GUJARAT, INDIA
Phone : 079 - 2657 66 39, Fax : 079 - 2657 99 96 • Mob. : 0982500 6980
E-mail :
smartinvest25@yahoo.in / smartinvest25@gmail.com / info@smartinvestment.in
web : www.smartinvestment.in
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 TM
Subscription Chart
B.O.S.S. (Best of Smart Services)
3 Month 6 Month 1 Year
10,000/- 18,000/- 35,000/-
Smart Investment Report (SIR)
1 Month : Rs. 2,000/- only
DOW (Den of Wealth)

6 Month 1 Year 2 Year 3 Year
4000/- 7,000/- 12,000/- 18,000/-
Soft Copy on Every Sunday Morning
Smart Investment Weekly 6 Months 1 Year 2 Years 3 Years
1. Gujarati Edition 1700 3100 5500 7300
2. English Edition 1200 1800 3200 4500
Soft Copy of Smart Plus News Letter
(Every Sunday Night) * For Private Circulation only
6 Month 1 Year 2 Years 3 Years
1. Smart Plus 1300 2200 4000 5400
Combined Package for Weekly & News Letter

Guj. & English Weekly E-Copy (Every Sunday Morning)
With Smart Plus News Letter (Every Sunday Night)
6 Month 1 Year 2 Years 3 Years
1. Gujarati + Smart Plus 2800 4600 8400 12500
2. English + Smart Plus 2000 3500 6200 9000
Ring : (M) 9825306980 / 9825006980 / (O) 079-26576639
smartinvest25@gmail.com , info@smartinvestment.in
If you want to subscribe our copy, Please Register into our website
You will be assigned your subscription over there itself
TM
Subscription Rates
All rates are inclusive of GST
Smart Investment Financial Weekly (English)

6 Months 1 Year 2 Year 3 Year
1200 1800 3200 4500
Smart Investment Financial Weekly (Gujarati)
1700 3100 5500 7300
Smart Bonanza (Gujarati)
1000 1600 2600 3800
Smart Plus News Letter
1300 2200 4000 5400
Smart English + Smart Plus News Letter (Combo)
2000 3500 6200 9000
Smart Gujarati + Smart Plus News Letter (Combo)
2800 4600 8400 12500
Internet Payment
Online Payment Gateway Facility thorugh your Credit / Debit Card is available.
Please logon to Tab “Subscribe” on our Website
You will be assigned your subscription over there itself
Financial Weekly TM

follow us
Install the app (Telegram & Instagram)
to follow our latest update
Now......
we are on Instagram as
smartinvestment.in
&
We're on Telegram now too
https://t.me/smartinvest_25
Smart Investment Website Index
44,888 hits only 1 Week
Total number of Hits
2,24,95,999
Kuber Bhandar of earnings
Future - Options, Stock - Watch, Funda - Picks,
Technical Shares, Speculative Scrips, Primary Market,
Smart Group of publications
No. 1 in Readership!!!!
Our Publications
* Smart Investment
(English & Gujarati Edition publishing on Every Sunday Morning)
* Smart Plus News Letter
(English Soft Copy publishing on Every Sunday Evening)
* Smart Bonanza
(Mid Week Gujarati Weekly - publishing on Every Tuesday Evening)
Have been eye catching for readers.
Now, Smart Group achieving new

milestones on Social Media!
Website Hits : 2,24,95,999
Telegram : https://t.me/smartinvest_25
Followers : 19,222+
Instagram : smartinvestment.in
Followers : 8,444+
Financial Weekly TM

-: Warning :-
Your soft Copy (E-mail Edition)

is for your exclusive use only.
Any attempt to share your copy
or
forwarding your copy
to a non-subscriber
will disqualify your membership
&
We will be compelled to stop
your supply
and
forfeit your subscription
thereafter without
any
refund to you.

SMART NEW

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

SMART NEW

Uploaded by

Copyright:

Available Formats

TM

Only Financial Weekly Published in

Editor : Dilip K. Shah

Phone : 079 - 2657 66 39

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

FII ACTIVITY (Rs. in Cr.)

Click on our website : www.smartinvestment.in

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

According to the Indian Newspaper Society,

7th July 2024 to 13th July 2024 4

7th July 2024 to 13th July 2024 5

Momentum & Over-Bought

Support Zone :- Nifty is having

:::: INDEX LEVELS ::::

7th July 2024 to 13th July 2024 6

7th July 2024 to 13th July 2024 7

September rate cut probability stood at around 64%.

working majority in the 650-seat strong House of Commons.

in the Eurozone appears to be stalling.

7th July 2024 to 13th July 2024 8

7th July 2024 to 13th July 2024 9

7th July 2024 to 13th July 2024 10

7th July 2024 to 13th July 2024 11

7th July 2024 to 13th July 2024 12

7th July 2024 to 13th July 2024 13

7th July 2024 to 13th July 2024 14

7th July 2024 to 13th July 2024 15

SAR Televenture Limited

Net proceeds from FPO and RI will be utilized,

7th July 2024 to 13th July 2024 16

SAR Televenture Limited is a telecommunication infrastructure provider, engaged

7th July 2024 to 13th July 2024 17

Download our app

7th July 2024 to 13th July 2024 18

Smart School Article 79: Investing by looking at the index

7th July 2024 to 13th July 2024 19

7th July 2024 to 13th July 2024 20

U.S. Economic data will guide interest

U.S. Economic data of this week

7th July 2024 to 13th July 2024 21

U.S. Economic data of this week

7th July 2024 to 13th July 2024 22

7th July 2024 to 13th July 2024 23

BUY Momentum option buy

Momentum index buy Technical future sell

Momentum future buy Momentumput option

7th July 2024 to 13th July 2024 24

7th July 2024 to 13th July 2024 25

7th July 2024 to 13th July 2024 26

POONAWALLA FINCORP has reported a 5% YoY growth in Q1 FY25 disbursements.

7th July 2024 to 13th July 2024 27

Hard Copy is available on Every Sunday Morning at your nearest book-stall

More detail about Subscription visit on our website

7th July 2024 to 13th July 2024 28

7th July 2024 to 13th July 2024 29

7th July 2024 to 13th July 2024 30

7th July 2024 to 13th July 2024 31

Corrections are Temporary, Growth is Permanent

7th July 2024 to 13th July 2024 32

7th July 2024 to 13th July 2024 33

7th July 2024 to 13th July 2024 34

7th July 2024 to 13th July 2024 35

7th July 2024 to 13th July 2024 36

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