Volume No.2 RNI No. Issue No.20 14 Feb. To 20 Feb.

2024

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14 Feb. To 20 Feb. 2024 3
 14 Feb. To 20 Feb. 2024 4

D(en)O(f)W(ealth)
Superb Performance of our latest Recommendations
Date Stocks Recom. Remark
11th January 23 NCC Buy at 94 with stop loss of 83 Book 50% profit on 25 April at 115 and full profit on 3rd May at 125.5
8th March 23 NCC Buy at 95 with stop loss of 85 Book 50% profit on 25th April at 115 and full profit on 3rd May at 125.5
3rd April 23 VA TECH WABAG Buy at 363 with stop loss of 330 Book 50% profit on 25th April at 397 and full profit on 11th May at 421
5th April 23 DENIS CHEM LAB Buy at 72 with stop loss of 61 Book 50% profit on 10th April at 80 Then made a high of 141.3
26th April 23 Gulshan Poly Buy at 253 with stop loss of 225 Book 50% profit on 3rd May at 273 later stop loss of cost clicked
2nd May 23 Star Cement Buy at 121 with stop loss of 105 Book full profit on 25th May at 135-136
21st June 23 HUDCO Buy at 61.5 with stop loss of 53 Book 50% profit on 25th July at 64.5 and rest 50% on 8th August at 69
27th June 23 GPPL Buy at 119 with stop loss of 110 Book 50% profit on 25th July at 124 and rest 50% on 8th August at 123
27th June 23 BDH IND Buy at 152 with stop loss of 142 Book 50% profit on 28th June at 160 and rest 50% on 4th July at 161
20th July 23 SATIN CREDITCARE Buy at 184 with stop loss of 165 Book 50% profit on 25th July at 206 and rest 50% on 8th August at 224
27th July 23 GRANULES Buy at 317.5 with stop loss of 300 Book loss on 11th August at 300
2nd August 23 GODREJ AGRO Buy at 482 with stop loss of 435 Book full profit at 492 on 12th September
10th August 23 JAIN IRRIGATION Buy at 52 with stop loss of 45 Book 50% profit on 21st August at 57 and rest 50% on 22nd August at 59
16th August 23 UFO MOVIES Buy at 108 with stop loss of 95 Exit at 106.5 level due to shifted in ESM 1
18th August 23 RUCHIRA Paper Buy at 127 with stop loss of 115 Book 50% profit on 21st August at 130 and rest 50% on 22nd August at 137
18th August 23 SHILP GRAUER Buy at 127.5 with stop loss of 115 Book full profit on 21st August at 137
28th August 23 IOLCP Buy at 390 with stop loss of 360 Book 50% profit on 29th August at 410 and rest 50% on 30th August at 430
29th August 23 HFCL Buy at 72 with stop loss of 64 Book 50% profit on 5th September at 80
4th September 23 STAR CEMENT Buy at 166 with stop loss of 155 Book 50% profit at 175 on 16th October and rest 50% at 178 on 17th October
15th September 23 TGVSL Buy at 108.5 with stop loss of 108.5 Book full profit at 115.5 on 18th September
29th September 23 INTEGRA ENG Buy at 226 with stop loss of 201 Book full profit at 234 on 29th September
5th October 23 ANANTRAJ Buy at 235 with stop loss of 215 Book full profit at 253 on 21st November
12th October 23 TGVSL Buy at 117 with stop loss of 106 Exit cost to cost at 117 on 16th October
13th October 23 HIND TIN Buy at 129 with stop loss of 115 Book full profit at 137 on 16th October
19th October 23 NIACL Buy at 145 with stop loss of 130 Book full profit at 160 on 21st November
26th October 23 COSMIC CRF Buy at 246 with stop loss of 205 Book full profit at 265 on 27th October
26th October 23 SHETRON Buy at 117 with stop loss of 108 Book full profit at 117 on 27th October
1st November 23 SATIN CREDITCARE Buy at 249 with stop loss of 225 Book full profit at 275 on 20th December
2nd November 23 COSMIC CRF Buy at 260 with stop loss of 223 Book full profit at 270 on 2nd November
8th November 23 VIJAYA DIAGNO Buy at 592 with stop loss of 550 Book full profit at 621 on 10th November
10th November 23 MOREPEN LAB Buy at 37.5 with stop loss of 30 Book full profit at 40.3 on 21st November
15th November 23 MAFATLAL IND Buy at 147.5 with stop loss of 133 Book full profit at 149.7 on 15th November
23rd November 23 TREL Buy at 51 with stop loss of 45 Book full profit at 57 on 8th January 24
24th November 23 SUPRIYA LIFE Buy at 265 with stop loss of 235 Book full profit at 284 on 28th November
24th November 23 Competent Auto Buy at 397 with stop loss of 340 Book full profit at 410 on 28th November
24th November 23 SHEMAROO Buy at 144 with stop loss of 130 Book full profit at 167 on 28th November
5th December 23 ALPA LABS Buy at 96.25 with stop loss of 88 Book 50% profit at 98 on 5th December & rest 50% at 103 on 11th Dec
8th December 23 IND SWIFT LABS Buy at 91 with stop loss of 81 Book full profit at 94 on 11th December
11th December 23 ASHOKA BUILDCON Buy at 151 with stop loss of 135 Book full profit at 163 on 9th January 24
15th December 23 SIMRAN FARM Buy at 165 with stop loss of 150 Book full profit at 182 on 18th December
18th December 23 LAXMI ORGANICS Buy at 290 with stop loss of 275 Book loss on 18th January 24 at 274
21st December 23 TYCHE IND Buy at 174 with stop loss of 151 Book full profit 185 on 21st December
29th December 23 HERANBA IND Buy at 398 with stop loss of 365 Book full profit at 422 on 5th January 24
29th December 23 MAFATLAL IND Buy at 137.5 with stop loss of 122 Book full profit at 141.5 on 1st January 24
9th January 24 SURYODAY SMALL Buy at 168 with stop loss of 150 Book full profit at 177.5 on 10th January 24
10th January 24 UFO MOVIES Buy at 138 with stop loss of 120
10th January 24 ENIL Buy at 224 with stop loss of 205 Book full profit at 253 on 17th January 24
10th January 24 AXTEL Buy at 550 with stop loss of 502 Book full profit at 585 on 15th January 24
11th January 24 APTUS VALUE Buy at 348 with stop loss of 320 Book full profit at 365 on 18th January 24
16th January 24 RALLIS INDIA Buy at 268 with stop loss of 245

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 14 Feb. To 20 Feb. 2024 5

Performance Report - Mid-term / Long-term

Stock Name Advise Target Stop Holding Return Advice End
Price Price Loss Period % Date Date
JK paper 370 490 2-12 weeks 32% 13/02/2023 19/01/2024
Hdfc Life 495 645 474 2-4 weeks 30% 08/03/2023 03/01/2024
Restaurant Brand Asia 105 110 90 2-4 months 5% 25/10/2023 11/01/2024
SHAREINDIA 1520 1830 1420 4-6 weeks 20% 01/11/2023 18/01/2024
Quick Heal 381 440 311 4-6 weeks 15% 15/10/2023 17/01/2024
Ashoka Buildcon 145 160 123 4-6 weeks 10% 16/10/2023 18/01/2024
Fusion Micro 540 669 520 4-6 weeks 24% 01/12/2023 31/01/2024
RALLIS INDIA 250 264 215 6-8 weeks 6% 05/12/2023 18/01/2024
Honasa Consumer 387 485 350 12-16 weeks 25% 11/11/2023 08/01/2024
Engineer India 160 204 150 4-6 weeks 28% 14/12/2023 02/01/2024
Asahi Glass 555 578 530 4-6 weeks 4% 15/12/2023 05/01/2024
Graphite India 540 574 470 5-6 weeks 6% 15/12/2023 17/01/2024
PDSL 545 588 525 4-6 weeks 8% 21/12/2023 15/01/2024
IEX 160 140 145 4-6 weeks -13% 29/12/2023 17/01/2024
Sula Vineyards 475 622 450 12-16 weeks 31% 29/12/2023 08/01/2024
Sasta Sundar Ventures 410 473 386 4-6 weeks 15% 01/01/2024 02/01/2024
Vascon Engg 71 77.5 65 4-6 weeks 9% 01/01/2024 05/01/2024
IMFA 512 582 494 4-6 weeks 14% 01/01/2024 30/01/2024
NFL 90 115 80 2-4 weeks 28% 02/01/2024 18/01/2024
MUNJAL SHOWA 160 190 142 4-6 weeks 19% 10/01/2024 11/01/2024
NAM_India - Nippon 495 525 6% 11/01/2024 30/01/2024
MADRAS FER 94 116 78 4-6 weeks 23% 03/12/2023 02/02/2024
Infosys 1564 1700 1460 2-3 weeks 9% 15/12/2023 02/02/2024
SWAN ENERGY 505 645 480 6-8 weeks 28% 29/12/2023 01/02/2024
NATIONAL ALUMINIUM 135 157 120 4-6 months 16% 16/01/2024 02/02/2024
Inox India 884 1029 855 2-3 months 16% 30/01/2024 03/02/2024
Delta Corp 143 153 131 3-4 weeks 7% 04/02/2024 04/02/2024
Average Return 16%

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 14 Feb. To 20 Feb. 2024 6
Vibhor Steel Tubes Limited
Comes out with IPO
Vibhor Steel Tubes is coming out with an IPO. It will raise Rs. 72.17
crore through this IPO. Price Band is Rs. 141-151 per share. The
issue opens on February 13, 2024 to February 15, 2024

Objects of the Issue Corporate

1. Funding of working capital requirements of the company; and
2. General corporate purposes. Feature
Vibhor Steel Tubes IPO Details
IPO Date : Feb. 13, 2024 to February 15, 2024
Face Value : Rs 10 per share
Price Band : Rs 141 to Rs 151 per share
Lot Size : 99 Shares
Total Issue Size : aggregating up to Rs 72.17 Cr
Fresh Issue : aggregating up to Rs 72.17 Cr
Issue Type : Book Built Issue IPO
Listing At : BSE, NSE
Vibhor Steel Tubes Limited manufactures, exports and sup- Share holding pre issue : 14,183,000
plies steel pipes and tubes to various heavy engineering indus-
tries in India. The company's product portfolio includes ERW
Lead Manager : Khambatta Securities Limited
pipes for application in water transport, oil, gas and other non- Registrar : Kfin Technologies Limited
toxic supplies, Hot-dipped galvanized pipes for application in
agriculture and infrastructure, Hollow section pipes in square
and rectangular forms, Primer painted pipes, Crash barriers for
application in railways, highways, and roads. The company has
two manufacturing facilities in Raigad, Maharashtra and
Mahabubnagar (Dist.), Telangana and a warehouse in Hisar,
Haryana. As of January 24, 2024 the company had a total of 640
permanent employees.
Vibhor Steel Tubes is coming out with an IPO. It will raise Rs.
72.17 crore through this IPO. Price Band is Rs. 141-151 per
share. The issue opens on February 13, 2024 to February 15,
2024. The minimum application to be made is for 99 shares and
in multiples thereon, thereafter. Post allotment, shares will be
listed on BSE and NSE. Khambatta Securities Limited is the the
Financial Information
Book Running Lead Manager (BRLM) of this issue and Kfin Tech- Period Ended 30 Sep. 31 March 31 March 31 March
nologies Limited is the registrar of the issue.
2023 2023 2022 2021
Vibhor Steel Tubes Limited is manufacturers and exporters
of Mild Steel/Carbon Steel ERW Black and Galvanized Pipes, Assets 376.48 293.63 248.54 172.93
Hallow Steel Pipe, Cold rolled Steel (CR) Strips/ Coils. It is 2 Revenue 531.24 1,114.38 818.48 511.51
decades old manufacturer, exporter and supplier of steel pipes
and tubes to various heavy engineering industries. Steel pipes Profit After Tax 8.52 21.07 11.33 0.69
and tubes can be used for many purposes such as steel pipes Net Worth 101.76 93.20 71.97 60.49
for frames and shafts, steel pipes for bicycle frames, steel pipes
Total Borrowing 160.27 126.83 106.07 58.74
for furniture, CDW pipes for shockers, steel pipes for various
structural purposes, steel pipes for various engineering pur- Amount in Rs Crore
poses etc. The company has a very wide range of steel pipes
and tubes products. The lengths of the steel pipes & tubes in different ranges unless otherwise specified by the customers. It manufactures
steel pipes and tubes in various shapes and size such square, round, rectangular and elliptical or any special shape.
Cont...
Vibhor Steel Tubes Limited manufactures, exports and supplies steel pipes and tubes to various heavy
engineering industries in India. The company's product portfolio includes ERW pipes for application in
water transport, oil, gas and other non-toxic supplies, Hot-dipped galvanized pipes for application in
agriculture and infrastructure, Hollow section pipes in square and rectangular forms, Primer painted
pipes, Crash barriers for application in railways, highways, and roads
 14 Feb. To 20 Feb. 2024 7
Promoters of Vibhor Steel Tubes
Mr. Vijay Kaushik
Aged 70 years is the Promoter and is currently desig-
nated as Chairman and Director of the company. Born in
Hisar, Haryana on November 18, 1953 he did his schooling in
Hisar and a full-time graduation from Government College
Vibhor Steel is working with Jindal Pipes Limited since 2003. Hisar in 1972 and subsequently he did LLB from Delhi Uni-
It manufactures & supplies the finished goods for “Jindal Pipes versity in 1975. His Father was a renowned criminal lawyer of
Limited” (“Jindal”) vide the renewed agreement dated April 01, Haryana, Pune and Rajasthan. He started business as manufacturer in 1978
2023 under the brand name “Jindal Star” . Under the agreement in manufacturing of Harrow Disc Agriculture, coal rolling of stainless-steel coils
Jindal will provide orders with a minimum quantity of 1,00,000 MT and steel pipes and he has more than 40 years of experience in manufacturing
per annum to fill majority capacity of Unit I & Unit II of the Com- business. He has the experience of more than 20 years in the Line of ERW
pany. Pipes and tubes. He is also a director in Jindal Drilling and Industries Ltd, (A
The company has an in-house quality team comprising of flagship company of DP Jindal Group), is a world renowned and illustrious
630 dedicated personnel working under the overall supervision company in the field of oil drilling. In last 20 years he has developed well
of its board of directors in different locations. Its quality control established network and contact in this field. He has in depth knowledge of the
team ensures that raw materials as well as end products are product, Demand & supply, market and industry dynamics. He handles sourc-
tested on all quality parameters to ensure that it is compliant with ing, finance function for the company.
the international product standards. Mr. Vibhor Kaushik
Vibhor Steel Tubes has expanded into new product line & Aged 40 years is the Promoter and is currently desig-
launched a new product i.e. Crass Barriers under its own brand nated as Managing Director of the company. Born in Hisar,
& started the manufacturing & selling the product. It has started Haryana, India on February 04, 1983 he did his schooling in
selling products under its own brand that will reflect in upcoming Hisar and he is qualified electrical engineering from the uni-
financials for the next financial years. versity of Arizona State University (USA) in 2006. He has
been managing the factory from the last 17 years as a man-
Promoters, Mr. Vijay Kaushik, Mr. Vibhor Kaushik and Mrs.
aging director. The factory performance and capacity has increased multiple
Vijay Laxmi Kaushik are first generation entrepreneurs, and have
folds after his presence in the factory. At the time of his joining to the factory
an average experience of approximately thirty years in mild steel
the capacity was 12,000 MT per annum. He has taken the capacity to over
and stainless steel welded pipes and tubes industry in addition to 2,21,000 MT per annum. After Increasing the production capacity by nearly
expertise in marketing, procurement, finance, accounting and 19-fold in just 17 years, he his ambition is to take company global. Being
customer relationship management. Managing Director, he has been very successfully managing all Company
The company has a big opportunity as a manufactures of Plant’s operations, staff and ventures in order to maintain and grow the Busi-
steel Pipes & Tubes products in the domestic market as well as ness. After having technical expertise required in Production and domestic
in export market. There is huge demand in the market. The pro- sales, he is now looking to develop to explore export market. He has commis-
duction of steel tubes and pipes grew at a CAGR of about 10% in sioned Telangana project in record time successfully.
the past 5 years from FY19-FY23. Of these years, the industry Ms. Vijay Laxmi Kaushik
has witnessed a decline only in FY21 due to the outbreak of Aged 67 years and is currently designated as Whole
Covid-19. During FY23, the production increased by 27.3% y-o- Time Director of the company. Born in Gurgaon, Haryana,
y backed by healthy domestic demand. During YTD FY24, the India on March 05, 1956 she did her schooling in Gurgaon
production of steel tubes and pipes increased by 16.2% on a y- and a full- time gr aduation from Gover nment c ollege
o-y. Gurgaon in 1976. She has more than 25 years of experi-
The consumption of steel tubes and pipes in India has grown ence. She is a Whole time Director of the company. She
steadily at a CAGR of 8.5% from 5,253 thousand tonne in FY19 has goods interpersonal skill and also helps in the admin-
to 7,282 thousand tonne in FY23. After witnessing an uptrend till istration of the company.
FY20, the industry observed a de-growth of 14.7% in consump-
tion during FY21 due to the pandemic. During FY23, the industry
Vibhor Steel is working with Jindal Pipes Limited since
witnessed a strong growth of around 29.3% y-o-y in consump- 2003. It manufactures & supplies the finished goods for
tion on account of the factors such as improvement in construc- “Jindal Pipes Limited” (“Jindal”) vide the renewed agree-
tion and real estate activities, continuous investment in infra-
structure and policy support by the government. The industry ment dated April 01, 2023 under the brand name “Jindal
has observed a growth rate of 18.9% in YTD FY24 in corre- Star” . It has a long-term agreement with the Jindal
sponding to the same period last year.
***
 14 Feb. To 20 Feb. 2024 8

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 14 Feb. To 20 Feb. 2024 9
Jumping BPS RAJA (Mumbai)
www.einvestmentadvice.com
Jackpot [email protected]

PSUs PULL DOWN THE MARKETIt is into speciality chemicals Re-

ported Rs 5 r NP
O n e o f t h r m a in r e a so n s f o r t h e m a r ke t f a ll is t h e p o o r
rwesultareportec by the public sector uniits on Monday. This added
panic ithe other sectors too. Market will absorb the situation and
other sectors will rise
Shares to watch When there is panic goor news get discounted but
will be effective when normalcy returns
YES BANK the reports that the HDFC has shown interest to take a
stake in the co appears to correc t as seen in Free Press Share has
moved to 30 further rise likely.
BLACK ROSE It is into speciality chemicals Reports Rs 5 Cr NP
againstRs 7 lakhs in 2023 It is considered
In a falling market watch
GMR Airports 89 in a falling market not falling Informed investors
have bought in bulk earlier Gradually buy
Electro steel casting fallen from 200 to 150 is another stock to
watch and accumulate
Gujarat Pipavav Port On Tuesday moved up from a low of Rs 169.
Buy OF The Week
CO. NAME CODE PRICE CO. NAME CODE PRICE
Captain Pipes 538817 18 God.Pro 533150 2277
Vodafone 532822 14 Tata Chem 500770 960
NHPC 533098 85 Reliance Ind 500325 2928
GMR Air 532754 89 Coromandel Int 506395 1099
IDFC 532659 115 Voltas 500575 1100
BEL 500049 176 Havells India 517354 1362
IRFC 543257 153 HDFC Bank 500180 1394
L&T Fin 533519 170 LTI Mind 540005 5554
AB Capital 540691 180 Bajaj Finserv 532978 1568
UPL 512070 479 HAL 541154 2922
Manappuram 531213 177 Bombay Burmah501425 1791
NTPC 532555 321 Apollo Hospital 508869 6723
Coal India 533278 452 HDFC AMC 541729 3751
Berger Paints 509480 559 Atul Ltd 500027 6374
Tata Power 500400 365 PI Ind 523642 3430
HDFC Life 540777 589 AlkemLab 539523 5300
Olectra Green 532439 1994 Siemens 500550 4323
Birla Soft 532400 844 BayerCrop 506285 6001
 14 Feb. To 20 Feb. 2024 10

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 14 Feb. To 20 Feb. 2024 12
Rapid Fire Kalpna J
Email- [email protected])
Stocks Twitter : @Kj_TechTrades

Vijaya Diagnostic Centre Ltd

Buy at CMP 644 for the targets of 855 to 950, Timeframe - 3 to 9 months
Vijaya Diagnostic Centre Ltd is a fastest-growing diagnostic chains in Southern India. The company
offers a one-stop solution for pathology and radiology testing services. It provides around 740 routine
tests, 870 specialized pathology tests, 220 basic tests, and 320 advanced radiology tests. The company
also offers a broad spectrum of customized health and wellness packages to its customers.
Strengths of the Company:
The company is one of the fastest growing diagnostic chain with dominant position in south India, well
positioned to leverage the high growth in Indian diagnostics industry. The Integrated diagnostics provider
that offers one-stop solution at affordable price with focus on superior quality standards; The company has
a high brand recall driving high individual consumer business share and customer stickiness. Strong tech-
nical capabilities, quality infrastructure and state of the art medical technology with strong IT infrastructure.
Dedicated management team with significant industry experience.

Between
the Lines
Ravi Gupta
[email protected]

NIFTY :
21650 CE Current Expiry
Buy : 104-111
SL : 83
Target : 123 138 154+
BANKNIFTY :
45800 PE Current Expiry
Buy : 140-170
SL : 60
Target : 210 245 290 350+
SBIN :
730 PE Current Expiry
Buy : 21-23
SL : 18
Target : 25 28 32+
AXISBANK :
1090 PE Current Expiry
Buy : 19-21
SL : 16
Target : 23 26 29+
 14 Feb. To 20 Feb. 2024 13
Commodity A&Y Investition
Trends [email protected]

NATURAL GAS : Natural gas prices in Europe, measured in euros,

have dropped to €26 per megawatt-hour, the lowest since July last year.
This comes after a 7.5% decline last week. The decrease is attributed to
warmer weather forecasts, ample gas stock levels, and increased sup-
plies from Norway. The approaching end of the winter and heating sea-
son in Europe is also contributing to the downward pressure on prices. As
of February 10th, gas storage levels in the European Union were at 67%,
with Germany at 73%, Italy at 61%, and France at 54%. Furthermore,
Norwegian gas supplies to Europe and Britain have been increasing after
an outage at the Nyhamna plant. Traders are closely monitoring a vote in
the US House of Representatives expected this week, which could po-
tentially reverse the Biden administration's freeze on LNG export approv-
als.
GOLD : Gold remained below $2,020 per ounce on Tuesday, staying
close to its lowest levels in over two weeks. Investors were cautiously
awaiting a crucial US inflation report that could impact the outlook on
interest rates. Concerns arose that higher inflation risks might delay ex-
pected rate cuts by the Federal Reserve, given strong US jobs data and
hawkish statements from Fed officials. Currently, markets anticipate a
total of 110 basis points in Fed rate cuts for 2024, down from around 160
bps at the end of the previous year. Additionally, investors kept an eye on
diplomatic talks in Beirut, suggesting potential progress in easing ten-
sions between Israel and Hamas in the Middle East.
Crude : Brent crude oil futures stayed around $82 per barrel on Tues-
day, close to the highest levels in two weeks. Geopolitical tensions in the
Middle East, particularly Israeli airstrikes in Rafah, supported oil prices.
While diplomatic talks in Beirut hinted at potential progress in easing
Israel-Hamas tensions, uncertainties on the demand side, coupled with
the possibility of inflationary risks delaying Federal Reserve interest rate
cuts, could limit oil price gains. Investors are now awaiting key US infla-
tion data and monthly oil reports from OPEC and IEA later this week.
 14 Feb. To 20 Feb. 2024 14
Sector – Peer Nikunj Vithlani
comparison Equichain Wealth Advisors
([email protected]

Equichain Valuation Matrix - Review from 19-Dec-23 article

On 19-Dec-23, there was two weeks of back-to-back rally supported by state
election result in Indian and US Fed meeting outcome on 13-Dec-23. Both the
events had turned out to be positive for market and it provided year end rally.
 14 Feb. To 20 Feb. 2024 15
Indices are current trading around same range but action is more focused with
stock specific and depends on their earnings.
Equichain Valuation Matrix - Impact of corporate earnings, stance & kept
rate un-change - Banks stock price reaction - negative.
Conclusion / Impact on Valuation matrix
1) Political stability - Market has factored in near term make better under-
standing of our view and how stocks has been mixed in last 2 months.
Disclaimer& Note : Investor need to understand risk associated with F&O
strategy, technical & other trading strategy before implementation and due risk
assessment is required from client's end and prefer professional advice before
executing.
Equichain Wealth Advisors - SEBI registration number (RIA): INA000016472
 14 Feb. To 20 Feb. 2024 16
Stock Vishal Baliya
Scan (Co-Founder at Happy Candles Investment)
Email: [email protected]

Market Outlook:
Strong Sell off continued in Nifty with major sectors like PSU and Private Banks, Public Sec-
tor companies, Small and Mid-Cap seeing no respite in mass selloff. In one way the selloff will
cool down the RSI. Lot of these companies are seeing a cuts like hot knife cuts through butter
slab. Amongst the fallen the companies which have given good results or seemingly decent
results will be the first to bounce back. Saving grace was today Nifty giving a close just above
200 Hours EMA and just above or at par with mid-channel support. Nifty Resistances from here
will be at 21698, 21758 to 21796 (Strong Resistance Zone), followed by another important resis-
tance at 21851. Above 21851 closing Bulls will be back to calling shots. Nifty Supports from here
on will be at 21613 (Very important support just round the corner, 200 Hours EMA), 21549 and
21459. A closing below 21459 will make the bears more powerful and will drive Nifty towards the
support levels of 21351 and 21285. Bottom of the current channel is near 21100 below which
market will be in total control of bears. If we can get a proper closing above 21613 that is if this
level is not broken, we can see a fight back of bulls tomorrow or later in the week.

Dr.Lal Pathlabs Ltd.CMP: 2458.75

Dr Lal Pathlabs Ltd. is engaged in the business of running laboratories for carrying out
pathological investigations of various branches of bio-chemistry, haematology, histopa-
thology, microbiology, electrophoresis, immunochemistry, immunology, virology, cytology,
and other pathological and radiological investigations. Dr Lal Pathlabs Ltd CMP is 2458.75.
The Negative aspects of the company are High Valuation (P.E. = 62.2), Declining annual
net profit, Promoter Holding decreasing. The positive aspects of the company are No debt,
zero promoter pledge, FIIs are increasing stake, MFs are increasing stake, Improving cash
from operations annual. Entry can be taken after closing above 2501. Targets in the stock
will be 2567 and 2600. The long-term target in the stock will be 2657 and 2711. Stop loss
in the stock should be maintained at Closing below 2410.
 14 Feb. To 20 Feb. 2024 17

LTIMindtree LtdCMP:5516.50
LTIMindtree Ltd. is a global technology consulting and digital solutions companies helping
more than 728 clients to succeed in a converging world. L&T Infotech, incorporated in 1997, is
a subsidiary of Larsen & Toubro Limited. Presently, the Company offers extensive range of IT
services like Agile, Analytics and Information Management, Application Development, Main-
tenance and Outsourcing, Enterprise Solutions, Infrastructure Management Services, Testing,
Digital Solutions, and Platform-based Solutions to the clients in diverse industries. LTIMindtree
LtdCMP is 5516.50. The Negative aspects of the company are High Valuation (P.E. = 35.5),
MFs are decreasing stake, Promoter Holding decreasing. The company's Positive aspects are
No debt, Low debt, zero promoter pledge, FIIs are increasing stake, improving annual net profit,
Improving cash from operations annual. Entry can be taken after closing above 5556. Targets
in the stock will be 5800 and 6022. The long-term target in the stock will be 6158 and 6319.
Stop loss in the stock should be maintained at Closing below 5250.

Disclaimer : I or my clients might have personal position in one or all stocks mentioned here. I
am not a SEBI authorized analyst and will not be responsible for position taken by you, profit or loss
for any individual or institution. The purpose of sharing the views is purely educational in nature for
paper trading.I am a NISM registered Research Analyst Registration number: 202100041409.
 14 Feb. To 20 Feb. 2024 18
GLOBAL MAR- Heena Belani
KET CHECK UP t.me/honey1money

KEY POINTS (This Week)

The Global Events those can affect the market sentiment any side
# Most important : Indian Interim Budget
# US:
Core Inflation Number on Tuesday and Retail Sales Number on Wednesday
# Japan : GDP Number to be declared
# Germany and others will also declare GDP No

DOW JONES
Touched at record high. Some consolidation or down side may be seen. Support
around 37000 to 37500 and resistance 39000.

NASDAQ
Nasdaq touched 18000 level after Darvas box break out (almost 1000+ points) I mentioned that
earlier. Now Resistance around 18000/18300 and Support 16800-17100 zone.
 14 Feb. To 20 Feb. 2024 19
Mutual fund Subhashini Suresh
([email protected])

Quant PSU Fund

The Quant PSU Fund is a newly launched (February 2, 2024) open-ended
equity mutual fund scheme offered by Quant Mutual Fund. It invests pre-
dominantly in equity and equity-related securities of Public Sector Under-
takings (PSUs) in India. Government spending on infrastructure projects
(roads, bridges, power grids) created a stable foundation for private busi-
nesses to operate and expand, attracting further investment. Public capital
formation in key sectors like transportation and communication unlocked
opportunities for private companies, leading to a multiplier effect on invest-
ment.
Investment Objective: Generate long-term capital appreciation by invest-
ing in PSUs.
Fund Launch Date: February 2, 2024, Offer Close Date: February 15,
2024
Minimum Investment: ?5,000, Fund Category: Equity: Thematic-PSU
• Risks:Market risks, including volatility in equity prices and changes in
government policies related to PSUs.Concentration in PSUs may lead to
higher portfolio risk compared to diversified equity funds
• Suitability:Investors with a long-term investment horizon (5+ years),
moderate to high risk tolerance, and bullish on the PSU sector. A chance to
invest across all company sizes for potentially higher returns with lower
risk, best suited for long-term investor. PSU stocks are attractive due to
their consistent dividend distribution history. Many PSUs have a tradition of
sharing aportion of their profits with investors. That, in turn, provides a
regular income stream and potentially enhances theoverall returns on in-
vestment.
1. Investment strategy:The fund follows a "quant" approach, utilizing quan-
titative models and data analysis to select stocks.It focuses on identifying
undervalued PSUs with strong fundamentals and growth potential.The fund
aims to maintain a concentrated portfolio with 25-35 stocks
2. Fund Manager:Sanjeev Sharma has over 15 years of experience in the
Indian capital markets.He previously managed other thematic funds with a
focus on specific sectors.His track record as a fund manager needs further
evaluation due to the limited data available.
 14 Feb. To 20 Feb. 2024 20
Honey Hitesh Shah
Money t.me/honey1money

Chart-1: RELIANCE
Reliance is facing resistance at 2950. Rejected several times. Below 2900, it
may move towards 2880/2850/2840/2800 level.

Chart-2: AXIS BANK

If Axis Bank is able to sustain above 1050, it may go to 1080/1100/1120. If
not it may slide to 1030/1015/1000 level.

Cont....
 14 Feb. To 20 Feb. 2024 21

Chart-3: INFOSYS
Infosys at 1680. It is at 10 DMA. If holds we may see 1700/1730/1750. If not, it
may go down to 1650/1628/1610 level.

Chart Performance
Company Buy/Sell Target
Achieved
JAYNECO 52 65
NIFTY RANGE DURING THIS WEEK WILL BE 21200 TO 22000
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 14 Feb. To 20 Feb. 2024 22
Research HET ZAVERI
Report ([email protected])

BHARAT FORGE
Bharat Forge a preferred Technology & Engineering CMP Rs. 1314
52 - week high Rs.1321
driven development partner and global leader in metal
52 - week low Rs.744
forming and it serves several sectors including Auto- Dividend % (consolidated) 0.53%
ROE 7.87%
motive, Railways, Aerospace, Marine, Oil & Gas, BVPS (Rs.) 144.78
Sales (Rs.) (Q2FY24) 3,774cr.
Power, E-Mobility, Construction and Mining. It is the
Debt to Equity 1.02
world's largest forging company and amongst one of P/E ratio 67.88
EPS (consolidated) 11.35
the best aerospace forging companies and automotive P/B ratio 5.35
Market Cap 61,180Cr.
forging company. It is also a leading supplier of various
Face value Rs.2.00
components for the aviation sector.
Considering various business segment wise Bharat Forge is a leading railway engine parts
manufacturer of wheel sets, truck frames and rail components in India its manufacturing portfolio
includes Engine components such as crankshafts, connecting rods, pistons, deck ends, retainer
cylinder heads; Turbochargers like Machined Compressor Impeller, Turbine Wheel Impeller Bal-
ance Assembly and Turbine Disc Bucket Assembly; various bogie components and Power Elec-
tronics. In Automotive Segment Company is the largest exporter of Auto Components from India
and one of the leading Chassis Components manufacturers in the world. In POWER segment
company manufactures critical components for thermal, wind, hydro and nuclear applications.In
Oil and Gas segment, company is a leading gas forgings supplier with a wide spread supply chain
capability of handling multiple primary and secondary processes including Open Die Press, Ring
Rolling, Close Die Hammer, Finish Machining and Cladding which helps it to deliver turnkey ser-
vices. In Marine Segment company supplies various products to global ship builders which in-
cludes products like including key products like crankshafts, connecting rods and propeller shafts.
It is one of the most reliable connecting rod manufacturers in India and rank amongst the best
crankshaft manufacturers in India. Company also manufactures other marine products for the shafts
- propeller, marine motor and stem tube and products for the rudder - stock, trunk and pintel. In
Aerospace segment company is a leading supplier of various components - airframe, structural
and engine parts for the aviation sector. Also known to be one of the best aircraft compressor
Cont...
 14 Feb. To 20 Feb. 2024 23
manufacturers in India. Company's E-Mobility portfolio includes a whole span of solutions for the
2W, 3W, 4W, Bus and Truck electrification, ranging from providing selected sub-systems to com-
plete electric powertrain kits under it's wholly owned subsidiary Kalyani Power trains Limited.
Company's casting arm JS Auto Cast is amongst the most reliable castings suppliers to leading
OEMs with a capacity for producing 120000 LMT of ductile iron (DI) castings annually catering to
the foundry processing offerings for applications in various industries such as Wind Energy, Hy-
draulics, Agricultural, Off-Highway, Automotive, Oil and Gas sectors.

It has 15 manufacturing plants spread across 5 countries which includes India, Germany, Swe-
den, France, and North America. It has the largest repository of metallurgical know-how, design &
engineering expertise, and manufacturing prowess in the region backed by more than 50 years of
experience in manufacturing a wide range of high performance, critical and safety components. It
has 30+ Years of Exporting experience with 750,126 TPA Global Forging Capacity through which
it caters 60+ Global Customers and 40+ Domestic Customers.

Cont...
 14 Feb. To 20 Feb. 2024 24

Financial Results:
Company's Net Sales was at Rs 3,774.19 crore in September 2023 up by 22.68%, Quarterly Net Profit
was at Rs. 227.23 crore in September 2023 up by 55.72%andEBITDA stands at Rs. 673.91 crore in Sep-
tember 2023 up by 41.02% as compared to September2022.Company'sEPS has increased to Rs. 4.88 in
September 2023 from Rs. 3.13 in September 2022.
Key Updates:
Bharat Forge recently announced a partnership with the Tamil Nadu government to invest up to Rs 1,000
crore over the next five years for expanding its manufacturing operations in the state.
Kalyani Rafael Advanced Systems Private Limited, a joint venture company between KalyaniStrategic
Systems Limited (a wholly owned Defence subsidiary of Bharat Forge Limited) andRafael Advanced Sys-
tems Limited of Israel, has bagged an order amounting to Rs. 2875.1million inclusive of taxes from the
Indian Ministry of Defence for the supply of Missile Systems.

Cont...
 14 Feb. To 20 Feb. 2024 25
Kalyani Strategic Systems Limited, a wholly-owned Defence subsidiary of Bharat Forge, hasbagged two
export orders aggregating to EURO 93.87 million (~Rs 850 Crores) from friendlycountries for supply of
components and Armored vehicle chassis to be executed over a18months' timeframe.
Recently, Hindustan Aeronautics Limited (HAL), Foundry & Forge Division,Saarloha Advanced Materi-
als Pvt Ltd (Saarloha) & Bharat ForgeLimited (BFL) signed MOU for Collaboration in Development and
Production of Aerospace grade steel alloys.
Bharat Forge Ltd & global aerospace and technology company, ParamountGroup signed a Memoran-
dum of Understanding (MoU) for the development and production of CompositeRotor Blades, Mission Sys-
tems and Stores Management systems for Medium Lift Helicopters.
Rolls-Royce Marine North America Inc and Kalyani Strategic Service Limited(KSSL), a 100% subsidiary
of Bharat Forge, have signed a MoU to explore the opportunity for KSSL to become an in-country provider
for propulsor sales within the Indian market.
J S Auto Cast Foundry India Private Limited("JS Auto"), its step-down subsidiary has entered into Busi-
ness TransferAgreement with Indo Shell Mould Limited ("ISML") for acquiring their SEZ Unitin SIPCOT,
Erode.
Saarloha Advanced Materials Private Limited (Saarloha),a Kalyani group company recently launched
first of its kind in India, green steel under thebrand "KALYANI FeRRESTA". KALYANI FeRRESTA steel
products are manufactured in an Electric Arc Furnace usingelectricity from 100% of renewable energy
sources and more than 70% recycled scrap material with zero GHG footprint. KALYANI FeRRESTA PLUS
has Net Zero GHG emissions perton of Crude steel whereas KALYANI Forrest has very low GHG emis-
sion of <0.19 tCO2eper MT of Crude Steel.
Kalyani Rafael Advanced Systems Pvt Ltd (KRAS) recently rolled out the 100th Medium Range Surface
to Air Missile Kit for delivery to the Indian Armed Forces. The kit is part of the MRSAM Air Defence Missile
jointly developed by Rafael Advanced Defense Systems Ltd & DRDO and manufactured in collaboration
with Indian industry comprising of both private and public sector players including MSMEs.
Kalyani Strategic Systems Limited, a wholly owned subsidiary of the Company, recently bagged another
export order for a 155mm Artillery Gun platform to be executed over a 3-year timeframe at the total value of
the order is USD 155.50 Mn.
Company also signed a MOU with General Atomics, US, a global leader in the research, design, and
manufacture of a diverse portfolio of electromagnetic and advanced power and energy technologies. Under
the terms of the MOU, Bharat Forge and General Atomics' Electromagnetic Systems Group (GA-EMS) will
collaborate for Lithium-Ion Battery System for naval platforms/submarines to address the requirements of
Indian Navy.
Bharat Forge Limited has recently dispatched 16 world-class and Made-InIndia Kalyani M4 vehicles to
the Indian Army for United Nations Peacekeeping deployment. The Kalyani M4 is a state-of-the-art Ar-
mored Personnel Carrier that provides unprecedented levels of protection to the occupants against high
 14 Feb. To 20 Feb. 2024 26
Kinetic Energy threats including severe mine blasts and grenades.
Kalyani Power train Limited and Harbinger Motors Inc. Announce Joint Venture named Electro Forge, to
Develop Electrified Drive trains for the Commercial TruckingIndustryat Kalyani Powertrain Limited's Pune,
India facility with expansion anticipated worldwide.
Year ago in East Tech 2022, company showcased a glimpse of Artillery Gun Systems, Protected Ve-
hicles, Armored Vehicles, Ammunition, Missiles and Air Defence Solutions, Small Arms, and Defence Elec-
tronics developed by the Kalyani Group.
BF Infrastructure Ltd., a wholly-owned subsidiary of Bharat ForgeLimited and Talgo India Pvt Ltd., a
wholly-owned subsidiary of Patents Talgo S.L. have collaborated together to set-up a joint venture which
will engage into manufacturing high speed passenger trains. The alliance will also address in future large
business opportunities in the Indian Railways sector and tap the upcoming domestic requirements in the
field.
Kalyani Strategic Systems Limited (KSSL), the defense arm of Kalyani Group had recently unveiled the
unique drone BHARAT 150, a multi-payload, variable mission drone indigenously developed by the group.
The X-8 configuration drone is already under testing bythe Indian Army in high altitude areas in Leh-Ladakh
and performed 8.5 KM with 20 kg payload.
Company has also successfully started commercial production of new Electric 2-wheelerat Chakan
which has capacity of 60,000 vehiclesper annum, expandable to 100,000 vehicles.
In last3 Years the stock gave a return of 103.63%as compared to the rise of Sensex and Nifty in the
same period.
Company has a well-diversified business across various industries and catering to various OEMs across
the globe. Its foray into Aerospace, Defense and E-mobility business through acquisitions and JVs may
work as a key driver for its growth in upcoming years. Considering company's world-wide presence, proven
financial track record, foray into futuristic business segments, good order book positions due to orders from
Private as well as PSU entities and backed by GOI's focus on strengthening India's position in world
economy, investors may invest in this company for long term period.

HET ZAVERI : [email protected]

(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. Investors must take advice from their financial advisors
before investing in any stocks.)
 14 Feb. To 20 Feb. 2024 27
Global Market A&Y Investition
Views [email protected]

US : United States Inflation RateIn January 2024, it is anticipated that the annual
inflation rate in the United States will decelerate to 2.9%, marking the lowest point
since March 2021. This follows a brief uptick to 3.4% in December. Consumer prices
are expected to experience a modest 0.2% rise compared to December, aligning with
the adjusted increases observed in the preceding two months. Additionally, annual
core inflation is projected to ease to 3.7%, the lowest since April 2021, down from 3.9%
in December. The monthly inflation rate is expected to remain stable at 0.3%. This
scenario reflects a downward trajectory in inflation rates, with a peak at 9.1% in June
2022, the highest level since the early 1980s.
13th February Core Inflation Rate MoM/YoY JAN/Inflation Rate MoM/YoY JAN
15th February Retail Sales MoM JAN
16th February Building Permits Prel JAN /PPI MoM JAN /Michigan Consumer
Sentiment Prel FEB
EUROPE : UK 10-Year Bond Yield Nearly 2-Month HighsThe interest rates on the UK
government's 10-year bonds have risen to around 4.1%, the highest since early Decem-
ber. This increase is a result of traders adjusting their predictions for Bank of England
(BoE) rate cuts. The shift follows the release of data indicating that UK wage growth
slowed less than expected in late 2023. Investors are now anticipating a reduction in
borrowing costs of around 69 basis points by December, compared to the previous esti-
mate of 78 basis points prior to the labor market report.This week, the UK is anticipating
key economic indicators, including the inflation rate and GDP. Market expectations sug-
gest a slight contraction of 0.1% in the fourth quarter of the year, potentially pushing the
UK into a technical recession. Consumer prices are predicted to decrease by 0.3% month-
over-month, while the annual inflation rate is expected to rise to 4.2%.
14th February Employment Change QoQ Prel Q4/GDP Growth Rate QoQ 2nd
Est Q4/ Industrial Production MoM DEC
INDIA : India Equities Rise in Early DealsOn Tuesday morning, India's stocks saw a
0.6% increase, with the benchmark index gaining 400.4 points to reach 71,441.4, and
Nifty 50 surpassing 21,660. Traders engaged in profit-booking following a two-week
low in the previous session. Positive sentiment was driven by January's inflation fig-
ures, which showed a three-month low of 5.1%, and better-than-expected industrial
output growth at 3.8%. Investors were closely watching the US inflation report for in-
sights into the Federal Reserve's rate outlook and potential timing of interest rate cuts.The
banking sector, financial services, and oil & gas were the leading gainers. Notable
performers included UPL (3.1%), ICICI Bank (2.1%), Hero MotoCorp (1.7%), NTPC
(1.5%), and Axis Bank (1.5%). Coal India saw a 2.9% rise following a 17% year-on-
year growth in its consolidated net profit. Later in the day, 34 companies, including
Hindalco, Eicher Motors, Siemens, Oil India, Hindustan Copper, and Zee, were set to
announce their Q3 results.
 14 Feb. To 20 Feb. 2024 28
Primary M.N. GANDHI
Market [email protected]
Rush for IPO in primary market: 66 cos to raise Rs. 72000 crore: 22 cos obtained SEBI nod for Rs. 27190 crore
A host of IPOs including OYO, Ebix Cash, NSDL, First Cry and Digit Insurance in pipeline
15-20 unicorns to go public in the next 12-24 months and India to have 10-plus internet decacorns by the end of 2025
This week total 13 issues including 1 Mainboard, 6 SME, 3 NCDs and 3 rights in the market
Entero HC mainboard IPO got Poor response from the retailers : Subscribed total 1.43x
Vibhor Steel got overwheling response from the investors and subscribed 30x
NSE SME IPOs : Interiors and More, Atmastco Limited and Kalahridhaan Trendz opens on 15th Feb.
Thaai Casting and Esconet Tech. NSE SME IPOs entering in the market on 15th Feb and 16th Feb. respectively
Apeejay Mainboard IPO listed with 20% premium and NSE SME IPO Italian listed with 19% discount
SME IPOs got excellent response from the investors : Alpex 324x, Rudra Gas 351x.
Wise Travel NSE SME IPO of Rs.140 to 147 price band Subscribed 15x on Second day

The major trigger for both primary and secondary markets this year is the gen-
eral elections, which are likely during April-May 2024. The IPO pipeline is ex-
pected to remain robust for the rest of the current financial year and in the next
one as well, with more than Rs 72,000 crore worth of securities heading for the
primary market, analysts have said. As many as 25 companies have received
the approval of the Securities and Exchange of Board of India (SEBI) to raise
approximately Rs 27,190 crore and another 41 companies are waiting for nod to
raise a total of Rs 45,576 crore. The major trigger for both primary and secondary
markets this year is the general elections, which are due by May. The average
IPO size is likely to be bigger in calendar year 2024 as more large firms are
coming with public issues compared to the previous year.
The biggest IPOs in the pipeline are OYO (about Rs 8,430 crore), Ebix Cash
(Rs 6,000 crore), NSDL (Rs 4,500 crore), First Cry (Rs 4,000 crore) and Digit
Insurance (Rs 3,500 crore). Around seven so-called new-age technology com-
panies - Ola Electric, Awfis, MobiKwik, Protea, Oravel Stays, Go Digit General
Insurance and Brainbees Solutions - are expected to go public in calendar 2024.
It is expected that 15-20 unicorns to go public in the next 12-24 months and India
to have 10-plus internet decacorns by the end of 2025.
* Last week's mainboard and SME IPOs:
Mainboard:
Rashi Peripherals Ltd :- Rs. 600 crore issue closed on Feb 9 with 62.95x
subscription including QIB : 151.45x, HNI : 66.15x, bHNI : 74.51x, SHNI 50.38x
and retail: 11.01x. Out of every nine applicants one may be allotted 48 shares.
Allotment ratio could be 47.10 in SHNI and 15.23 in BHNI. It may list at around
Rs. 360-370 on February 14. Book 50% profit once the prices cross Rs. 400
level.
Jana SFB Ltd :- Rs. 570 crore issue close don Feb 9 with total 19.89x sub-
scription including QIB : 39.81x, HNI : 26.13x, bHNI : 28.73x, SHNI 20.94x and
retail: 5.70x. Ratio could be 5.08 in SHNI and 0.67 in BHNI. Out of every 2 appli-
Cont....
 14 Feb. To 20 Feb. 2024 29
- Polysil Irrigation NSE SME IPO got subscription 6.88x on the last day
- Indel Money NCDs issue got 0.90x subscription and Sakthi Fin. 0.71x till Feb 12
- This week five Rights issues are in the market: Shree Ajit Pulp, Quest Soft, Varun, Indian Info, I.B. H F

cants one may be allotted 36 shares. Issue may list on Feb 14 at around Rs.
440-450.
Capital SFB Ltd :- Rs. 523.07 crore issue closed on Feb 9 with total 4.17x
subscription including QIB : 6.86x, HNI : 4.23x, bHNI : 3.63x, SHNI 5.43x and
retail:2.60x. allottement ration could be 5.6 in SHNI and 0.67 in BHNI. Out of
every two applicants one may be allotted 32 shares.
* NSE SME IPOs:-
AlpexSolar :- Rs. 74.52 crore issue closed on Feb 12. It has got overwheling
response from the investors. Total 324.03x and in retail 351.89x subscription on
the last day. It may list at 150% price.
* Listing:-
Gabriel Pet (544108) :-Issue with an offer price of Rs. 101 listed on Feb 7 at
Rs. 120.75 and went down to Rs. 111.20.
* This week's mainboard and SME IPOs:-
• Entero Healthcare (Mainline) :- Rs. 1900 crore issue with a price band of
Rs. 1195-1258 opened on Feb 6 and close on Feb 13.
Subscription :- On the first day it got total 1.43x subscription including , QIB :
2.29x, HNI : 0.22x, bHNI : 0.17x, SHNI 0.34x, retail: 0.92x and employee: 1.32x
on the last day. As it lacks fancy, the investors have kept distance.
Refund/Allotment : Allotment could be on Feb 14, refund on Feb 15 and share
credit on Feb 15.
Listing :- Issue may list around Rs. 1300 on Feb 16. If market doesn't support
it may slip in discount.
• Vibhor Steel Tubes Ltd. (Mainline) :- Rs. 72.17 crore issue will open on Feb
13 and close on Feb. 15. Issue of Rs. 141 to 151 got good response from the
investors and Subscribed total 29.92x, QIB 3.81x, HNI 51.97x, BHNI 46.50x,
SHNI 62.90x, retail 35.37x and employee 29.95x on the first day.
Subscripiton : due to small size it has witnessed a huge attraction and it may
get good response in retail and HNI. It may get 20-25x subscription in retail and
40x in HNI.
Refund/Allotment : Allotment could be on Feb 16, Refund on Feb 19 and
share credit on Feb 19.
Listing :- Issue may list on Feb 20. It may list with 70-80% premium at Rs. 270-
275 and may cross rs.
300 level in a good market.
* SME IPOs:-
• Rudra Gas Enterprise (BSE SME) :- Rs. 14.16 crore issue with a fixed price
of Rs. 63 opened on Feb 8 and will close on Feb12. It has received total 350.75x
and in retail 404.38x subscription on the last day. It may list on Feb 15 at around
Rs. 100-110 and may touch Rs. 120-125 level.
Cont....
 14 Feb. To 20 Feb. 2024 30
• Polysil Irrigation (NSE SME) :- Rs. 17.44 crore issue with a fixed price of
Rs. 54 opened on Feb 8 and will close on Feb 13. It received total 6.88x and in
retail 11.62x subscription on the last day. It may list on Feb 16 at around Rs.
62-65.
• Wise Travel India Ltd. (NSE SME) :- Issue with a price band of Rs. 140-147
and total size of Rs. 94.68 crore will open on Feb 12 and close on Feb 14. It may
list on Feb 19 around Rs. 270-275 and may touch Rs. 300 in a good market.
This IPO got subscription total 14.92x and retail 18.60x on the second day.
• NCDs issues:-
Indel Money : Rs. 200 crore issue will close on Feb 12. It has got 0.90x sub-
scription of its base price on Feb. 12.
Sakthi Finance Ltd :- Issue with bas price of Rs. 100 crore and overall Rs.
200 crore will close on Feb 21. It has obtained Stable rating from ICRA. Coupon
rate are 9-10.25.
This NCDs issue got subscription 0.71x till Feb. 13.
UGRO Capital Ltd :- Issue with a base price of Rs. 100 crore and overall Rs.
200 crore will close on Feb 21. It has obtained A/Stable rating from IND. Coupon
rates are 10.25 to 11%.
This NCDs issue got subscription 0.87x till Feb. 13.
* Rights Issue:-
Last week three Rights Issues were present in the market of which Sharanam
Infra and Ind Renewable closed on Feb 2 and Skipper Ltd on Feb 8.
Currently five rights issues are in the market of which Shree Ajit Pulp will close
on Jan 39, Quert Softech on Feb 2, Yarn Syndicate on Feb 6, Indian Infotech on
Feb 6 and IB Hou.Fin on Feb 12.

Grey Market Premium

IPOs Name Lot Size Offer Premium Kostak Subject to
(Shares) (Rs.) (Rs.) Price Sauda
Main Line IPOs
Rashi Peripherals Main Line IPO 48 295 to 311 48 to 50 350 2,400
Small HNI 36,000
Big HNI 3,000 36,000
Jana Small Finance Bank 36 393 to 414 16 to 18 250 900
Small HNI 12,500
Big HNI 3,100 12,500
Capital Small Finance Bank 32 445 to 468 0.00 200 700
Small HNI 5,000
Big HNI 5,000
Entero Healthcare Solutions 11 1195 to 1258 0.00 -- 1,500
Small HNI 12,500
Big HNI 12,500
Vibhor Steel Tues Main Line IPO 99 141 to 151 115 to 120 450 to 500 9,500
Small HNI 1,35,000
Big HNI 1,35000
SME IPOs
Alpex Solar NSE SME 1200 109 to 115 140 to 150 1,35,000
Rudra Gas Enterprise BSE SME 2000 63.00 48 to 50 75,000
Polysil Irrigation NSE SME 2000 54 8 to 10 20,000
Wise Travel India NSE SME 1000 140 to 147 62 to 65 - 53,000
Thaai Casting NSE SME 1600 73 to 77 20 to 22
Kalahridhaan Trendz NSE SME 3000 45 0.00
Atmastco Limited NSE SME 1600 77 12 to 14
Interiors and More NSE SME 600 216 to 227 0.00
Esconet Techologies NSE SME 1600 80 to 84 26 to 28
Zenith Drugs NSE SME 1600 75 to 79 0.00
 14 Feb. To 20 Feb. 2024 31
Main - line IPO (Non SME)
Sr Company Issue Open Dt. Issue size Offer price Lead Manager Remark
Issue Close Dt. (Rs. Cr.) (Rs.)
1. V ibhor 13-2-2024 72.17 Cr 141 to 151 Khambatta Sec. Apply for Short Term
Steel Tubes 15-2-2024 FV Rs 10 (Listing Gain)

NSE SME IPO

Sr Company Open Dt. Issue size Offer price Minimum Lead Remark
Close Dt. (Rs. Cr.) (Rs.) Applications Size Manager
1. Wise Travel 12-2-2024 64,41,000 Shares 140 to 147 1000 Shares Share India Apply for Short Term
(WTi Cabs) 14-2-2024 Rs 94.68 Cr. (FV Rs. 10) Rs. 1,47,000 Capital (Listing Gain)
2. Thai Casting 15-2-2024 61,29,600 Shares 73 to 77 1600 Shares GYR Apply for Short
Ltd. 19-2-2024 Rs 47.20 Cr. (FV Rs. 10) Rs. 1,23,200 Capital to Mid Term
3. Interiors and 15-2-2024 18,50,400 Shares 216 to 227 600 Shares Gretex Apply for Long Term
More Ltd. 20-2-2024 Rs 42.00 Cr. (FV Rs. 10) Rs. 1,36,200 Corporate Ser.
4. Atmastco 15-2-2024 73,05,600 Shares 77 1600 Shares Affinity Global May Apply
Ltd. 20-2-2024 Rs 56.25 Cr. (FV Rs. 10) Rs. 1,23,200 Capital
5. Kalaharidhaan 15-2-2024 49,98,000 Shares 45 300 Shares Interative Apply for Long Term
Trendz Ltd. 20-2-2024 Rs 22.49 Cr. (FV Rs. 10) Rs. 1,35,000 Fin. Ser. Ltd.
6. Econet 16-2-2024 33,60,000 Shares 80 to 84 1600 Shares Corporat Capital Next Week
Techno. Ltd. 20-2-2024 Rs 28.22 Cr. (FV Rs. 10) Rs. 1,34,400 Ventures
7. Zenith Drugs19-2-2024 51,48,800 Shares 75 to 79 1600 Shares Gretex Corporate Next Week
Ltd. 22-2-2024 Rs 40.68 Cr. (FV Rs. 10) Rs. 1,26,400 Ltd.

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. Sakthi 8-2-2024 Base Size Rs 100 Cr. 1,000/- 10 NCDs BSE ICRA BBB (Stable)
Finance 21-2-2024 Total Size Rs. 200 Cr (Rs.10,000) By ICRA Avoid
Lead manager : Bonanza Portfolio
Registrar : Link Intime
2. UGRO 8-2-2024 Base Size Rs 100 Cr. 1,000/- 10 NCDs BSE IND A/Stable Apply for
Capital 21-2-2024 Total Size Rs. 200 Cr (Rs.10,000) NSE By India Rating Mid Term
Lead manager : JM Financial
Registrar : Link Intime
3. Nido Home 13-2-2024 Base Size Rs 50 Cr. 1,000/- 10 NCDs BSE A+/Stable
Finance 26-2-2024 Total Size Rs. 100 Cr (Rs.10,000) By CRISIL Apply for
Lead manager : Tips Nuvama Mid Term
Registrar : KFin Techno

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. Shree 30-1-2024 35,71,133 80 2 Shares for every BSE Vivro Fin. Apply
Ajit Pulp to Shares (F.V. Rs.10) 3 Shares held on Registrar
and Paper 15-2-2024 28.57 Cr 18-1-2024 Link Intime
2. Quest 2-2-2024 1,60,00,000 30 8 Shares for every BSE -- Avoid
Softech to Shares (F.V. Rs.10) 5 Shares held on NSE Registrar
15-2-2024 (Rs 48 Cr.) 8-1-2024 Purva Sharegistry
3. Yarn 6-2-2024 1,80,00,000 27 24 Shares for every BSE -- Avoid
Syndicate to Shares (F.V. Rs.10) 5 Shares held on NSE Registrar
21-2-2024 (Rs 48.60 Cr.) 24-1-2024 Cameo Corporate
 14 Feb. To 20 Feb. 2024 32
Vibhor Steel Tubes Limited Main Line IPO
Opens on 13th Feb & Closes on 15th Feb, 2024
Price Band Rs. 141 to 151; Listing on BSE & NSE
Constant growth in Top and Bottom lines in all three fiscals
On valuation front issue looks fairly priced
Considering the growth in demand for steel and related products
Investors may apply for listing gains or Short term rewards
Founded in 2003, Vibhor Steel Tubes Limited manufactures, exports and supplies steel pipes and tubes to various
heavy engineering industries in India. The company's product portfolio includes: ERW pipes for application in water
transport, oil, gas and other non-toxic supplies. Hot-dipped galvanized pipes for application in agriculture and infrastruc-
ture. Hollow section pipes in square and rectangular forms. Primer painted pipes. Crash barriers for application in
railways, highways, and roads.
Issue Details Financial Performance : Consolidated Basis
Particulars (Rs. Cr.) FY21 FY22 FY23 H1FY24
• Issue Opens on 13th Feb. & Closes on 15th Feb. 2024
Total Revenue 511.51 818.48 1114.38 531.24
• Object of the issue : Funding of working capital requirements of
Profit After Tax 0.69 11.33 21.07 8.52
the company; General purposes.
EPS 0.49 7.99 14.85 6.01
• Total Issue Size : Rs 72.17 Cr
RONW (%) 1.14 15.74 22.60 8.37
• Face Value Rs. 10 • Offer price Rs. 141 to 151
• Minumum Lot Size : 99 Share • Listing on : BSE & NSE
• BRLM : Khambatta Securities Limited
• Registrar : Kfin Technologies Limited
• Company Management : The Promoters of the Company are Mr. Vijay Kaushik, Mr. Vibhor Kaushik, Mrs. Vijay
Laxmi Kaushik and M/s. Vijay Kaushik HUF.
• Pre Issue Promoter Holding : 98.24%
• Average of last 3 Yrs. EPS Rs. 10.17 & RONW : 16.73%
• Pre IPO P/E Ratio : 10.17
• Industry Peer Group PE Ratio : 45.39
OTHER SIDE OF THE COIN
• Average cost of acquisition by Promoters is in the range of Rs.9.65 to 57.48 per share and issue price band is Rs. 141
to 151 per share.
• Apart from issuing equity at par company has further allocated equity capital at the price of Rs. 10 between April, 2003
to January 2018 and the offer price band is Rs. 141 to 151.
• Company is over dependent on Jindal Pipes Limited and over 90% of the revenue is derived from them.
• Company has reported certain negative cash flows from its operating activities, investing activities and financing
activities Q2FY24, FY21 and FY20.
• Company requires high working capital to carry out day to day operations.
• Company depends on 2 locations to carry out businesses. It derived 57.59% and 38.60% of total revenue from
Maharashtra and Telangana respectively in Q2FY24.
• IPO size is below 250 crores so it will list in T2T means 'trade to trade' category and stock can only be traded on a
delivery basis with 5% Upper and Lower limits.
Recommendation :- Company has posted good growth in Revenue and almost jumping
figures in PAT in all three fiscals. But if we annualize the earnings of H1Fy24 then it may
remain below the figures of FY23. On valuation front P/Bv comes to 2.3 and PE is 10.17
against peers PE average of 45.39 issue appears priced. Company operates in capital inten-
sive business. Considering the infrastructural growth of India, demand for steel and related
products is going to increase in upcoming years and due to that company may experience
a good revenue flow in upcoming years. Investors may apply for listing gain or short-term
rewards.
 14 Feb. To 20 Feb. 2024 33
Wise Travel India Limited NSE SME IPO
Opens on 12th Feb & Closes on 14th Feb, 2024 ; Offer price Rs. 140 to 147
The company has registered consistent top-bottom line growth in the last 3 financial years and in H1FY24
Considering all the parameters on the valuation front, the offer price of the issue seems reasonable
Investors may consider to apply for listing gain or short term rewards
Incorporated in 2009, Wise Travel India Limited is a transport company that offers car rentals and trans-
portation services. The company offer services across 130 cities in India.
The company offers a range of services including car rental, employee transportation, end-to-end em-
ployee transport solutions (MSP), flexible fixed/monthly rental plans, airport counters, fleet management,
mobility services for MICE, cutting-edge mobility tech solutions, sustainable mobility, project mobility solu-
tions, strategic consulting and advisory on mobility, and community commute. WTI offers a variety of rental
cars, including executive cars, luxury cars, coaches, SUVs, and sedans.
Issue Details
• Issue Opens on 12th February & Closes on 14th February 2024
• Object of the Issue : To Meet Working Capital Requirement, General Corporate Purpose, To Meet the
Issue Expenses • Issue Size : 64,41,000 Shares ; Rs 94.68 Cr.
• FV Rs. 10 • Offer price Rs. 140 to 147 Financial Performance : Consolidated Basis
Particulars (Rs. Cr.) FY21 FY22 FY23 H1FY24
• Minumum Lot Size : 1000 Share • Listing on : NSE SME
Total Revenue 44.06 89.70 249.97 190.17
• Market Cap Rs. 350.03 Cr Profit After Tax 1.73 3.78 10.29 11.33
• BRLM : Share India Capital Services Private Limited EPS 1.09 2.31 5.91 6.54
• Registrar : Beetal Financial RONW (%) 7.23 13.25 25.28 43.77
• Promoter : Mr. Ashok Vashist, Ms. Hema Bisht, and Mr. Vivek Laroia.
• Market Cap Rs. 350.05 Cr.
• Pre Issue Promoter Holding : 95.63% • Post Issue Promoter Holding : 69.76%
• Issue constitutes 25.87% of the post issue paid up capital
• Average of last 3 Yrs. EPS Rs. 3.90 & RONW : 18.26%
• Pre IPO Eq. Capital Rs. : 17.37 Cr. • Post IPO Eq. Capital Rs. 23.81 Cr.
• Pre IPO : P/BV Ratio 4.92 (NAV : 29.89) • Post Issue : P/BV Ratio : NIL (NAV : NIL)
• Pre IPO P/E Ratio : 24.81 • Post IPO asking P/E on fully diluted equity : 15.45
• Industry peer Group PE Ratio : 33.31
• BRLM’s Performance : This is 10th Issue from BRLM in last 3 years. In last 9 Listing : 7 Issued opened
with premium and 1 Issue Discount & 1 Issue with at par.
OTHER SIDE OF THE COIN
• The average cost of acquisition of equity shares by the promoters of the company is Rs. 2.73, Rs. 2.69
and 4.30 and offer price Rs. 140 to 147 per share.
• The company had issued bonus shares in the ratio of 9:2 in September 2023 before filing the dividend.
• Apart from initial equity capital at par, the company issued further equity capital by the company during
March 2010 to March 2023 Rs. 10 to Rs. Additional equity was issued in the price range of 86.
• The past cash flow of the company has been negative.
• Company's registered office, branch office and parking place are on lease.
• The Company does not own the WTI trademark.
Recommendation : - The Company has posted consistent growth in top-bottom lines in
the last 3 financial years and in H1FY24. On the valuation front, the offer price of the issue
appears to be reasonable with a P/BV of 4.92 and a PE of 15.45 compared to its peer group
average PE of 33.31. Investors may apply for listing gain or short term rewards.
 14 Feb. To 20 Feb. 2024 34
Interiors and More Limited
Opens on 15th.Feb. & Closes on 20th. Feb.2024
Offer Price Rs.216 to 227 Listing On NSE NSE
Incorporated in June 2012, Interiors & More Limited trades, imports,
and sells artificial flowers. The company manufactures and trades qual-
ity artificial flowers, plants, and decor items for homes and offices.
Recommendation :- The company has Financial Performance : Consolidated Basis
posted consistent growth in Top & Bottom lines Particulars (Rs. Cr.) FY21 FY22 FY23 31/12/23
SQSFY24
for the reported periods. However Sudden jump Total Revenue 6.63 9.99 25.27 18.54
of 468% in bottom line for FY23 is surprising & Profit
EPS
After Tax 0.43
1.42
1.04 5.93
2.03 11.52
3.55
6.89
Unlikely to sustain going fo rward. If we RONW (%) 21.40 25.78 59.57 26.27
annulized 3QS of FY23 results. It is not in line with previous year and revenue &
PAT posted lower. Consider in P/B of 8.65 and PE of 33.84. issue appears fully
priced. Being a first entrance in this segment investors may apply for long term.

Thaai Casting Ltd

Opens on 15th.Feb. & Closes on 19th. Feb.2024
Offer Price Rs.73 to 77 Listing On NSE NSE
Incorporated in June 2010, Thai Casting Limited is an automotive ancillary com-
pany specializing in High-Pressure Die Casting, as well as the precision Machining of
both Ferrous and Non-Ferrous materials and Induction heating and quenching.
Recommendation :- Thaai Casting is Auto Financial Performance : Consolidated Basis
Equipment Company. It has posted consistent 31/10/23
Particulars (Rs. Cr.) FY21 FY22 FY23 7MFY24
growth in its Top lines & bottom lines for the last three Total Revenue 20.49 38.42 49.12 28.89
fiscals and 7 month of FY24. Sudden over four fold Profit After Tax 0.40 1.15 5.04 5.57
jump in FY23 is surprising. On Valuation front con- EPS 0.24 0.68 2.96 3.25
RONW (%) 8.49 16.87 40.10 27.06
sidering P/Bv of 18.65 P/BV 2.53 and PE 18.65 is-
sue appears fairly priced. Investors may consider to apply for short to mid term rewards.

Kalahridhaan Trendz Limited

Opens on 15th.Feb. & Closes on 20th. Feb.2024; Offer Price Rs.45 Listing On NSE SME
Kalahridhaan Trendz Limited was founded in 2016 and is a company that dyes and processes textiles.
The company is engaged in manufacturing and trading of fabrics with embroidery, trading of grey fabrics,
buying of grey fabrics and printing and dyeing of suiting, shirting and dress fabrics for sale in the B2B market.
Recommendation :- The company is engaged in Financial Performance : Consolidated Basis
the business of Manufacturing and Trading of fabrics 30/9/23
in B2B segment. It has posted steady growth in its Particulars (Rs. Cr.) FY21 FY22 FY23 H1FY24
financial performance for the reported periods. How- Total Revenue
Profit After Tax
132.36 183.90 184.17
1.11 2.46 6.66
84.35
4.79
ever Sudden jump in bottom lines for the FY23 & H1 EPS 1.29 2.51 7.74 -
of FY24 is surprising on Valuation front considering RONW (%) 12.28 21.48 36.75 20.90
P/Bv of 1.70 and PE of 26.42 issue appears fairly priced. Investors may apply for long term.
 14 Feb. To 20 Feb. 2024 35
Atmastco Limited
Opens on 15th.Feb. & Closes on 20th. Feb.2024 ; Offer Price Rs.77 Listing On NSE NSE
Incorporated in April 1994, Atmastco Limited is a turnkey/EPC contrac-
tor, providing multi-disciplinary services and project management solu-
tions in the ferrous and non-ferrous sectors.
Recommendation :- Incorporated in April 1994, Financial Performance : Consolidated Basis
Atmastco is a turnkey/EPC contractors. It has 31/8/23

posted consistent growth in its financial performace Particulars (Rs. Cr.)

Total Revenue
FY21 FY22 FY23 5MFY24
69.91 94.68 242.79 67.00
for the reported periods. However Sudden around Profit After Tax 0.60 3.23 12.78 6.29
four fold jump FY23 in bottom line is surprising EPS 0.41 2.18 8.63 4.24

and unlikely to sustain going forward. There is Set- RONW (%) 1.55 7.63 23.15 10.07

back in Top line of 5MFY24. On valuation front cosidering P/Bv of one and PE of 12.62
issue appears fully priced. Investors may cosider to apply for long term.

UGRO Capital Limited NCD

Opens on 8th.Feb.&Closes on 21st.Feb. 2024
Offer Price Rs. 1000 Per NCD: Listing On BSE NSE
Incorporated in 1993, UGRO Capital Limited is a non-deposit-taking sys-
temically important NBFC firm registered with the RBI. The company is en-
gaged in the lending business and focuses on the MSME sector in India.
Recommendation :- The Company is coming Financial Performance : Consolidated Basis
out with its 4th Debt issue since November 2021. Particulars (Rs. Cr.) FY21 FY22 FY23 3QFY24
It has posted consistent growth in Top lines for last Total Revenue 153.34 313.42683.763 751.29
Profit After Tax 28.73 14.55 39.75 86.66
three fiscals & 3QS of FY24. However it has re-
ported setback in bottom line of FY22 on account of pandemic. It’s Net NPA is 1.75% &
Post IPO debt/Equity ratio will be 3.11% considering A/Stable rating and attractive cou-
pon rate from 10.25% to 11% investors may apply for midium term.

Sakthi Finance Limited NCD

Opens on 8th.Feb.&Closes on 21st.Feb. 2024; Offer Price Rs. 1000 Per NCD: Listing On BSE
Founded in 1955, Sakthi Finance Limited, part of the Sakthi Group based
in Coimbatore, South India, is an investment and lending company special-
izing in the financing of used commercial vehicles.
Recommendation : - Founded in 1955, Sakthi Financial Performance : Consolidated Basis
Finance is a part of Shakthi group & this 7th debt Particulars (Rs. Cr.) FY20 FY21 FY22 FY23 H1FY24
offer from the company since Feb. 2015 Last debt Total Revenue 170.23 171.34 181.35 191.94 100.37
issue was in the market in April 2023. It has posted Profit After Tax 11.18 9.26 9.52 12.49 7.20

steady growth in Top lines for the last three fiscals and H1 of FY24. However it has reported setback
in bottom lines for the FY21 & FY22. It Net NPA is 2.47% post issue debt/Equity ratio will be rise to
high at 7.20 considering B B B poor ratio its risky debt offer. Investors may stay away from this debt
offer even though it offers attractive coupon rate from 9 to 10.25%.
 14 Feb. To 20 Feb. 2024 36
Nido Home Finance Limited NCD
Opens on 13th.Feb.&Closes on 26th.Feb. 2024
Offer Price Rs. 1000 Per NCD: Listing On BSE
Nido Home Finance Limited (formerly known as Edelweiss Housing Finance Lim-
ited) was established in 2008 and is a non-deposit-taking housing finance company
offering customers access to credit for various types of loans.
Recommendation : - Nido Home formely
Financial Performance : Consolidated Basis
known as Edelweiss Housing Finance, is com- Particulars (Rs. Cr.) FY21 FY22 FY23 3QFY24
ing out with its 4th debt offer since june 2016. Total Revenue 551.05 513.91 444.69 337.42
It has posted consistent growth in bottom lines Profit After Tax 3.73 13.81 16.06 9.42

for the last three fiscals & 3QS of FY24. However it has reported setback in Top
lines for FY22 & FY23. It’s Net NPA is 1.61% & post issue debt/Equity ratio will
rise to 3.69. considering A/Stable rating & coupon rates from 9.50% to 10.75.
investors may apply with moderate funds for mid term perspective.

Zenith Drugs Limited

Opens on 1 9th.Feb. & Closes on 22nd. Feb.2024
Offer Price Rs.75 to 79 Listing On NSE SME
Incorporated in 2000, Zenith Drugs Limited is a pharmaceutical company
specialising in manufacturing and trading high-quality, affordable medicines, in-
cluding generic drugs. Zenith Drugs IPO is a book built issue of Rs 40.68 crores.
The issue is entirely a fresh issue of 51.49 lakh shares. Zenith Drugs IPO price
band is set at ?75 to ?79 per share. The minimum lot size for an application is
1600 Shares. Gretex Corporate Services Limited is the book running lead man-
ager of the Zenith Drugs IPO, while Bigshare Services Pvt Ltd is the registrar for
the issue. The market maker for Zenith Drugs IPO is Gretex Share Broking.

Esconet Technologies Limited

Opens on 16th.Feb. & Closes on 20th. Feb.2024
Offer Price Rs.80 to 84 Listing On NSE SME
Founded in 2012, Esconet Technologies Limited provides high-end
supercomputing solutions, and data center facilities that include storage
servers, network security, virtualization, and data protection. Esconet Tech-
nologies IPO is a book built issue of Rs 28.22 crores. The issue is entirely
a fresh issue of 33.6 lakh shares. Esconet Technologies IPO price band
is set at ?80 to ?84 per share. The minimum lot size for an application is
1600 Shares. Corporate Capitalventures Pvt Ltd is the book running lead
manager of the Esconet Technologies IPO, while Skyline Financial Ser-
vices Private Ltd is the registrar for the issue. The market maker for
Esconet Technologies IPO is Ss Corporate Securities.
 14 Feb. To 20 Feb. 2024 37

https://play.google.com/store/apps/
details?id=app.smartinvestment
 14 Feb. To 20 Feb. 2024 38
Long Invest for
Race Long term
(Email: [email protected])

BHARAT FORGE : The face value of the shares of this company listed in the
BSE group of Baba Kalyani Group is Rs.2, while the share price has increased
to Rs.1330 and decreased to Rs.744 during the year. The company is part of
the $3 billion Baba Kalyani Group and manufactures forging products for the
automobile, power, oil and gas, rail, marine, aerospace, construction and min-
ing sectors. The company has plants in India, Europe and China. The equity of
the company is Rs.93.13 crore against which the company has a huge reserve
of Rs.6919 crore. The promoters hold 45.25 percent stake and the public holds
54.75 percent stake in the company. In the December quarter of the financial
year 2024, the company's sales have increased from Rs.3353 crore to Rs.3866
crore, while the company has shown a profit of Rs.254 crore against a profit of
Rs.79 crore. At current prices, the market cap of the company is Rs.52615
crore. For the financial year 2019, the company paid a dividend of 250 percent,
for the financial year 2020, the company paid an interim dividend of 175 per-
cent, for the financial year 2021, the company paid 100 percent dividend, for
the financial year 2022, the company paid 350 percent dividend, for the finan-
cial year 2023, the company paid 350 percent dividend has been paid. This
sector is doing well and there are huge opportunities in the defense sector as
well which can benefit the company in the future. Stocks can be invested in
phases. The company's ROE is 6.88 percent and ROCE is 7.70 percent. Stock
can be taken care of in decline.
ASTRAL LTD : Listed in the A Group of the BSE with its headquarters at
Ahmedabad, the licensee of Lumbrizol Inc. has a face value of Rs.1 per share.
During the year, the share price has increased to Rs.2057.95 and decreased
to Rs.1297.90. It is the first company to introduce the most advanced CPVC
plumbing systems in the country. This company with its own R&D has set a
new standard in the plumbing sector in the country and the company has
benefited greatly from the culture of GI pipes to PVC and CPVC pipes. In the
December quarter of the financial year 2024, the company's sales have in-
creased from Rs.1268 crore to Rs.1370 crore, while the profit has increased
from Rs.95 crore to Rs.113 crore. The company has achieved an EPS of
Rs.4.23 in 3 months. The company has a large FII and mutual fund stake and
the stock floated in the market is very less. At current prices, the market cap of
the company is Rs.52040 crores. The company has been showing continuous
 14 Feb. To 20 Feb. 2024 39
and one-sided growth for the past several years and now the company is
entering into other sectors one after another. As the future of the company is
very bright, one can consider investing in this stock at the current price. In the
last 10 years, the profit of the company was Rs.78.91 crore, Rs.75.89 crore,
Rs.100.66 crore, Rs.144.68 crore, Rs.175.08 crore, Rs.195.81 crore, Rs. 248
crores, Rs.404 crores, Rs.490 crores and Rs.472 crores. Some time ago the
company made an entry in the segment like Favicol and the company made an
entry in the plastic tank sector, these two segments are very big which can
benefit the company.
ACC : Listed on BSE, the group is the leading cement company of ACC
Holcim Group which has been taken over by Adani Group. The face value of
the shares of the company is Rs.10. During the year, the share price has
increased to Rs.2691 and decreased to Rs.1593.5. At current prices, the mar-
ket cap of the company is Rs.49496 crores. The promoters hold 56.69 percent
stake and the public holds 43.32 percent stake in the company. While Holcim
Group has also sold Ambuja Cement to Adani Group, a merger of these two
companies may be seen going forward. The equity of the company is Rs.187.79
crore against which the company has a reserve of Rs.14631 crore. In the
December quarter, the company's income has increased from Rs.4537 crore
to Rs.4914 crore while the profit was Rs.113 crore against which the company
has shown a profit of Rs.538 crore. The operating profit of the company has
increased from Rs.379 crore to Rs.905 crore in the December quarter. In the
9 months ending at the end of December quarter, the company's income has
increased from Rs.12625 crore to Rs.14550 crore, while the profit has in-
creased from Rs.536 crore to Rs.1392 crore. The company has achieved an
EPS of Rs.74.1 in 9 months. ROE of the company is 7 percent and ROCE is 10
percent. The Company has a large presence especially in North India and
West India. Adani Group's 52-week peak can be kept in mind when most
informants have now turned bullish on the cement sector.

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 14 Feb. To 20 Feb. 2024 40
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V2 RETAIL : Earlier known as Vishal Retail, this company is now known as

Vetu Retail. Listed in B Group at BSE, the shares of this company have a face
value of Rs.10. During the year, the share price has increased to Rs.411.5 and
decreased to Rs.67. At current prices, the market cap of the company is Rs.1288
crore. In the company, promoters hold 54.28 per cent and public 45.72 per
cent, with FIIs holding 6.36 per cent. The company currently has 107 stores. In
the December quarter, the company's same-store sales growth was 47 per-
cent, which can be said to be strong compared to its competitors. The com-
pany has the largest number of stores especially in Uttar Pradesh and also
sells products through some of its own brands. The equity of the company is
Rs.34.07 crore against which the company has a reserve of Rs.212 crore. In
the December quarter, the company's sales have increased from Rs.240 crore
to Rs.374 crore, while the company's profit has increased from Rs.9 crore to
Rs.14 crore. The company has achieved an EPS of Rs.6.81 in the December
quarter. In this quarter, the operating profit of the company has increased from
Rs.38 crore to Rs.61 crore. Talking about the first nine months of the financial
year 2024, the income of the company has increased from Rs.645 crore to
Rs.869 crore while the company has achieved a profit of Rs.24 crore in these
nine months against a loss of Rs.5 crore. The company has achieved an EPS
of Rs.6.98 in nine months. While there is a fancy in this sector, one can watch
out for stocks in decline.
GLOBAL HEALTH : This company came up with an IPO in 2022 at a price
of Rs.336 and after the listing, this stock has made a very handsome return to
its investors. Listed in A Group at BSE, the face value of the shares of this
company is Rs.2. During the year, the share price increased to Rs.1446.75 and
decreased to Rs.447.4. At current prices, the market cap of this company is
Rs.36220 crores. This company is specially promoted by Dr. Naresh Trehan
and the company has hospitals at Gurgaon, Indore, Ranchi, Lucknow, Patna.
The company occupies 4.7 million square feet of space and has 2725 beds.
More than 1600 doctors are serving in the company's hospitals. The equity of
the company is Rs.54 crore against which the company has a reserve of Rs.2600
crore. In the company, promoters hold 33.05 percent, FIIs 11.36 percent, DIIs
Cont....
 14 Feb. To 20 Feb. 2024 41
11.15 percent and public 44.45 percent. In the December quarter, the com-
pany has announced strong results in which the revenue of the company has
increased from Rs.694 crore to Rs.833 crore, while the operating profit has
increased from Rs.160 crore to Rs.212 crore. The company's net profit has
increased from Rs.81 crore to Rs.124 crore and the company has achieved an
EPS of Rs.4.61 in the December quarter. Even on TTM basis, the company
has achieved operating profit of Rs.766 crore and net profit of Rs.452 crore on
revenue of Rs.3153 crore. The stock of the company has made a strong return
but looking at the growth one can invest in the stock in any decline.
YES BANK : Everyone knows what happened in Yash Bank around covid as
the bank went into liquidation and then the government, RBI and big banks
came together to save the bank as it had huge retail deposits. However, after
that gradually this bank is becoming stable and now the asset quality of the
bank is becoming stable. The bank is gradually stabilizing its balance sheet by
selling the NPAs, although the equity of the bank has become very large due to
the fund that was put in to save the bank. Yash Bank is the company with the
largest retail share holder today. There are around 50 lakh share holders in the
bank. Listed in Group A at BSE, this bank has a face value of Rs.2. During the
year, the share price increased to Rs.32.81 and decreased to Rs.14. At current
prices, the market cap of the bank is Rs.81342 crores. FIIs hold 23.79 percent,
DIIs 41.98 percent and public 34.22 percent in the bank. In the December
quarter, the income of the bank increased from Rs.5874 crore to Rs.6989
crore, while the profit increased from Rs.55 crore to Rs.243 crore. The bank
has achieved an EPS of Rs.0.08 in this quarter. Gross NPA has been 2 percent
while net NPA has been 0.9 percent in the December quarter. Discussions are
going on that if SBI sells its stake in the bank, a big investor will come, but in
case of a decline, high risk investors can watch out.

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 14 Feb. To 20 Feb. 2024 42
Bull’s Eye Invest for Long term
(Email: [email protected])

APOLLO HOSPITAL : Apollo Hospital, promoted by Pratap Reddy, headquar-

tered at Chennai, was started in 1983. The face value of the shares of the com-
pany listed in the A group at BSE is Rs.5. During the year, the share price has
increased to Rs.6675 and decreased to Rs.4078. The promoters hold 29.33 per-
cent stake in the company and the public holds 70.67 percent stake in the com-
pany though FIIs hold a major stake in the company and FIIs hold a total stake of
65.35 percent in the company leaving only 5.32 percent stake for the public. The
equity of the company is Rs.72 crore against which the company has a reserve
of Rs.6437 crore. The company currently has more than 1000 beds in 73 hospi-
tals. The company has more than 5000 pharmacy stores. It has more than 1100
primary care and diagnostic clinics. In the December quarter of the financial year
2024, the income of the company has increased from Rs.4264 crore to Rs.4851
crore, while the profit of the company has been Rs.254 crore, which was a profit
of Rs.162 crore last year. At the end of the December quarter of FY2024, the
company has achieved an EPS of Rs.17.06. In this quarter, the operating profit
of the company has increased from Rs.484 crore to Rs.614 crore. Especially this
is a sector in which there is no recession and the growth is increasing day by
day. At current prices, the market cap of the company is Rs.95125 crore. The
stock is constantly making new highs, but any dips can be bought nine.
VESUVIUS : Basically this company operates in refractory goods segment.
This is an MNC company. Listed in A Group at BSE, the face value of this com-
pany is Rs.10. During the year, the share price has increased to Rs.3955 and
decreased to Rs.1500. At current prices, the market cap of the company is
Rs.7287 crore. In the company, promoters hold 55.57 percent, DIIs 23.26 per-
cent, FIIs 1.73 percent and public 19.43 percent. The equity of this company is
only Rs.20 crore against which the company has a reserve of Rs.1173 crore.
The company is debt free. In the December quarter, the company has announced
good results in which the revenue of the company has increased from Rs.348
crore to Rs.417 crore. The operating profit has increased from Rs.40 crore to
Rs.80 crore and the net profit of the company has increased from Rs.28 crore to
Rs.57 crore. The company has achieved an EPS of Rs.28.12 in the December
quarter. The company follows the December quarter as year-ending, so if we talk
about the year ending at the end of the December quarter, the income of the
company has increased from Rs.1343 crore to Rs.1603 crore. The operating
profit has increased from Rs.165 crore to Rs.287 crore and the net profit of the
company has increased from Rs.117 crore to Rs.213 crore. The company has
Cont....
 14 Feb. To 20 Feb. 2024 43
achieved an EPS of Rs.104.92 for the year. At the current price, the stock is
quoting at a PE of 34.2 and the company's ROE is 19.4 percent and ROCE is
25.9 percent. Looking at the fancy of the sector, the stock can be considered in
any decline.
P I IND : Modi government is giving more emphasis on development of rural
India and agriculture. The face value of shares of PI Industries, listed in the A
Group at BSE, which manufactures agro chemicals and pesticides, is Rs.1. The
company has a total of 3 manufacturing units at Jammu and Gujarat. In the De-
cember quarter, the company's income has increased from Rs.1613 crore to
Rs.1898 crore, while the company's profit has increased from Rs.352 crore to
Rs.449 crore. The operating profit of the company has increased from Rs.415
crore to Rs.554 crore in the December quarter. While in the first nine months of
the financial year 2024, the income of the company has increased from Rs.4926
crore to Rs.5925 crore, while the profit has increased from Rs.949 crore to Rs.1312
crore. The company has achieved an EPS of Rs.96.49 in the first nine months of
FY2024. The equity of the company is Rs.15 crore against which the company
has a reserve of Rs.7967 crore. The promoters hold 46.09 percent stake and the
public holds 53.89 percent stake in the company. During the fifty-second week,
the share price has increased to Rs.4010 and decreased to Rs.2870. At current
prices, the market cap of the company is Rs.51614 crores. DIIs hold 23.15 per-
cent and FIIs hold 20.41 percent stake in the company. At the current price this
stock still looks very attractive for investment. Funds are heavily invested in the
stock and from here one can see much higher levels in the next year or so.
Stocks can be invested in phases. The ROE of the company is 18.5 percent.
SBI (Rs. 708.00) (Code : 500112) :- The share of this public sector bank with
its registered office in Mumbai has increased to 728 during the fifty-second week
and is currently trading at Rs.501. Hladri is Rs.1. The market cap is Rs.631773
crore and the capital is Rs.371.08 crore. Last year the company had declared a
dividend of Rs.11.30 per share on 31 May 2023. Bank on 20 Nov. In 20214 a
share of Rs.10 per share was split into shares of Rs.1 per share. Bank on 26
November. In 1993, rights shares were offered at a premium of 3:5 at a premium
of 50 and on 28 Jan 2008 at a premium of 1:5 at 1580. Equity capital is as high as
Rs.892 crores and reserves as high as Rs.358038 crores. The bank has re-
corded a net profit of Rs.9164 crore during the December quarter. Net profit has
been affected due to increase in salary of employees and extraordinary items of
Rs.7100 crore. The total interest income has been Rs.118192 crores. Two hun-
dred crores (0.64 percent). In the corresponding period last year, the bank had
shown a net profit of Rs.14205 crore and a net NPA of 0.71 percent on a revenue
of Rs.98083 crore. The profit of the bank's subsidiaries SBI Cadres has increased
by 8 percent to Rs.549 crore, SBI Life has increased by 6 percent to Rs.320
crore, Asset Management has increased by 45 percent to Rs.540 crore, and the
profit from General Insurance is Rs.75 crore. Earnings per share are estimated at
Cont....
 14 Feb. To 20 Feb. 2024 44
Rs.62.70 on annualized profit of Rs.55970 crore. Investing in this stock for 9 to
12 months gives attractive margins.
ITC (Rs. 406.00) (Code : 500875) :- ITC Limited is a diversified conglomerate
active in consumer goods, hotels, paper boards and packaging, agri business and
information technology. ITC is likely to demerge its information technology busi-
ness ITC Infotech in the year 2026. is The company has more than 200 menus.
Exporting to more than 100 countries through various manufacturing units and
having more than 900 patent filings. ITC Infotech, Surya Nepal Pvt. Ltd. is the main
subsidiary of ITC Group. Landbase India Ltd., Russell Credit Ltd., Srinivasa Re-
sorts, Fortune Park, Welcomehotels Lanka Pvt. Ltd., Technico PTY Ltd. For the
quarter ended 31 Dec 2023, the company has reported a revenue of Rs.18019.40
crore and a net profit of Rs.5340.80 crore by 9% and an EPS of 4.28. There is a
strong possibility that the company will show a net profit of Rs.20,458.40 crore and
an EPS of 16.3 on revenue of Rs.71,794.20 crore for the year ending March 31,
2024. At the current price, the stock is trading at a PE multiple of 22.06, indicating
an attractive valuation. During the fifty-second week, the share price has increased
to Rs.499.70 and decreased to Rs.369.65. Market cap is Rs.507712 crore and
book value is Rs.55.42 crore and face value is Rs.1. The dividend yield becomes
attractive as 3.81 percent. Buy this stock for medium to long term.

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 14 Feb. To 20 Feb. 2024 45
Small But Invest for Long term
Beautiful (Email: [email protected])

JSPL (Rs. 747.00) (Code : 532286) :- The face value of the shares of this group company
operating in the iron and steel sector is Rs.1. During the fifty-second week, the price in-
creased to Rs.804 and decreased to Rs.503. The DRI and BF based iron production capacity
at the Angul plant will significantly increase the company's operating capacity and also
reduce costs. The shares have been valued at a multiple of 6 over the estimated operating
profit for the year 2023-24. The company recently acquired thermal coal assets and devel-
oped logistic infrastructure for iron ore and coal, which will enable significant cost savings.
Coal can be supplied to the company from Gorepalma. Apart from this, coal supply can also
be obtained from Utkal block and this supply is estimated to reach five million tonnes by the
year 2023-24. In the company, promoters hold 61.20 percent stake, public holds 37.7 per-
cent stake. The book value of the company is Rs.379. The equity of the company is Rs.100
crore against which the reserve is Rs.35523 crore. Apart from this, a slurry pipeline has
been started from Kasia mine to Angul plant and this company will be able to get handsome
benefits from it. No. In the December quarter of the year 2023, the total income of the
company was Rs.11,736 crore against which Netinfo was Rs.1927 crore.
Orient Ele (Rs. 204.00) (Code : 541301) :- This group company operating in household
appliances sector has a capital of Rs.1. During the fifty-second week, the price rose to
Rs.284 and fell to Rs.201. Orient Electric posted a 2 percent growth in sales while its operat-
ing profit fell by 11 percent. Management continues to invest continuously in building new
branding capabilities as well as improving working capital efficiency. Apart from this, empha-
sis has also started on digital channels along with physical sales. Fan sales show a decline
compared to last year. On the other hand, the company has achieved a very good growth in
the sales of appliances. As unrated fan stocks are now fully replenished from distribution
channels, sales of rated fans have started to pick up and sales prices and profitability are
good. The lighting division's sales grew by 8 percent in value terms, while in volume terms,
the growth rate was double-digit. Due to the increase in the share of valued products and the
increase in the sales of high wattage lamps, the company has achieved a good growth.
Equity Rs. 21 crores against which the reserves stood at Rs. 563 crores. No. In the Decem-
ber quarter of the year 2023, the total income of the company was Rs.756 crores against
which the net profit was Rs.24 crores. Orient Electric on the one hand is increasing operating
efficiency. The premiumization of its portfolio is happening and the company has focused on
increasing the distribution network and increasing the brand image and improving the profit
margin and also increasing the return on equity, there is room for rerating in this stock.
Imagicaa (Rs. 71.00) (Code : 539056) :- The FV of this company is Rs.10. The price
has increased to Rs.86 and decreased to Rs.34 during the fifty-two weeks. Magica Park,
developed on 110 acres of land near Kafoli in Maharashtra, can be considered as India's
first world-class theme leisure and entertainment destination. For all-season, family enter-
tainment, the park has water parks, snow parks, five-star hotels and theme parks. The
theme park has 26 indoor and outdoor rides. There are five food and beverage outlets.
Apart from this, Mambo Child Tea, Tubitakes of Vegan Wheels, etc. have rides for kids.
 14 Feb. To 20 Feb. 2024 46
Huge roller coasters and high speed rides are also developed here. While Nitro and Goldrus
Express have been prepared for big visitors. Magica Water Park is located next to the
theme park. And its design is based on the Greek Micronos and it can take 15 different
types of rides simultaneously. And four restaurants are also located. Magica Snowpark is
spread over 4000 square feet and India's largest real snow fall is built on this place. You
can experience snowfall in the 50 feet big dome. Apart from this, visitors also get the
benefit of different activities in a 45-minute session. Along with playing basketball in the
snow, one can also experience sliding and ice climbing. Apart from this, visitors can also
benefit from different activities in a 45-minute session. Along with playing basketball in the
snow, one can also experience sliding and ice climbing. A 287-room Novotel Magica has
also been developed at Magica Park. And it also offers one night and two night stay
packages. The hotel also has a swimming pool and other activity centers. Located on the
Mumbai-Pune Expressway, Imagica currently attracts many visitors from Gujarat and
Maharashtra. is 50 percent of the company's revenue comes from ticket sales and about
20 percent from food and beverage. While the rest of the income is from hotel rooms. The
promoters hold 79.85 percent stake and the public holds 29.15 percent stake in the com-
pany. Equity is Rs.624 crore. In the December quarter of the financial year 2023, the total
income of the company is Rs.73 crore against which the net profit is Rs.4 crore.

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Smart Investment Website Index
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 14 Feb. To 20 Feb. 2024 47
Market
Nikhil Bhatt
Movers M : + 91 99793 80808

FOR TRADING DATE: 14.02.2024 - WEDNESDAY

NIFTY FUTURE CLOSED @ 21816 AS ON 13.02.2024..!!
NIFTY FUTURE RANGE @ 21606 TO 22008 POINT…!!
Dear Traders,
Nifty Future has resistance at 21880 - 21939Point; above which other resis-
tance levels are at 21979 - 22008Point with highly Volatile Trend,
In Downside support levels are at21770 - 21707 Point; below 21707 Point,
other support levels are at 21676 - 21606 Point.
I am positive for the next bullish trend only above @ 21939Point but be with
the trend. Let the market decide further moves. As we are saying from many
days, Buying is suggested in falls only...and it's still a better strategy in the
given Scenario,
Regarding Long term positions, it is preferable to remain cautious now...!!
If Nifty Future crosses @ 21939Point, again then the upper side target is
quite high and it may touch @ 22008Point in the short term...!!!
FOR TRADING DATE: 14.02.2024 - WEDNESDAY
BANK NIFTY FO CLOSED @ 45660AS ON 13.02.2024..!!
BANK NIFTY FUTURE RANGE@ 45180TO46006POINT…!!!
Dear Traders,
BANK NIFTY Future has resistance at45737 - 45808Point; above which other
resistance levels are at45939 - 46006Point with highly Volatile Trend,
InDownside support levelsare at45570 - 45404 Point;below45404 Point, other
support levels are at45330 - 45180 Point.
I am positive for next bullish trend only above@ 45939Point but be with the
trend. Let the market decide further moves. As we are saying from many days
Buying is suggested in falls only...and it's still a better strategy in the given
Scenario...!!!
Regarding Long term positions, it is preferable to remain cautious now...!!
IfBANK NIFTY Future crosses@45939Point, again then the upper side tar-
get is quite high and it may touch @ 46006Point in short term...!!
Dear Traders…. For the Trading on Date 14.02.2024
Trading Future Stocks For the date -14.02.2024
Cont....
 14 Feb. To 20 Feb. 2024 48
1. GODREJ PROP. @ 2290 Positive Trend with Stop loss of Rs @ 2202for
the Target near @ Rs 2308 - 2323 in short term…..!!!
2. HCL TECH. @ 1666 Positive Trend with Stop loss of Rs @ 1626 for the
Target near @ Rs 1676 -1690 in short term…..!!!
3. HAVELLS INDIA @ 1367 Positive Trend with Stop loss of Rs @ 1317 for
the Target near @ Rs 1383 -1390 in short term…..!!!
4. TATA CONSUMER @ 1140 Positive Trend with Stop loss of Rs @ 1116
for the Target near @ Rs 1157 - 1170 in short term...!!
5. AU BANK @ 595 Positive Trend with Stop loss of Rs @ 580 for the Target
near @ Rs 606 - 616 in short term...!!
6. GRASIM IND.@ 2068Negative Trend with Stop loss of Rs @ 2120for the
Target near @ Rs2037 - 2023in short term...!!!
7. M & M@ 1649Negative Trend with Stop loss of Rs @ 1690for the Target
near @ Rs1626 - 1606in short term...!!!
8. BAJAJ FIN.@ 1573Negative Trend with Stop loss of Rs @ 1606for the
Target near @ Rs1560 - 1544in short term…!!!
9. CIPLA LTD@ 1456Negative Trend with Stop loss of Rs @ 1490for the
Target near @ Rs1440 - 1424in short term...!!!
10.ICICI BANK@ 1021Negative Trend with Stop loss of Rs @ 1060for the
Target near @ Rs 1008 - 990in short term...!!
 14 Feb. To 20 Feb. 2024 49
MID WEEK Nilesh Kotak
M : 9227204076,
ROUND UP 9898425655
Sensex and Nifty started a new week with a volatile movement
and closed in a negative zone. Overall sentiment is volatile. If sensex
break level of 70500 & nifty 21500 than further fall likely market now
in sell on rise mode.
Scripts for Buy:
Stride Pharma: 755 (Buy in the range of 725-735, Stop Loss
690, Target 800.
BASF: 3379 (Buy in the range of 3300-3310), Stop Loss 3200,
Target 3500.
ZF Commercial: 14993 (Buy in the range of 14500-14600), Stop
Loss 13800, Target 15500.
Book Profit in Cash Segment Scrip if you are holding:
Zydus Life 856
Global Healt1353
Godfrey Phillips 2586
February Future Buy:
Bharat Forge: Buy in the range of (1095-1100), Stop Loss 1040,
Target1180.
Escort : Buy in the range of (2780-2790), Stop Loss 2725,
Target 2875
ITC : Buy in the range of (400-402), Stop Loss 385, Target 435
February Future Sell:
Co Forge : Sell in the range of (6740-6750), Stop Loss 6900,
Target 6600.
Hero Motor : Sell in the range of (4750-4775), Stop Loss 4925,
Target 4500
Indigo: Sell in the range of (3125-3150), Stop Loss 3250,
Target 3000.
 14 Feb. To 20 Feb. 2024 50
F&O Abhijit Mehta (Vadodara)
[email protected]
Strategy

NIFTY 50 Index closed the week (as on Monday)

on negative note losing 155.65 Points approx
Weekly High: 22053.30
Weekly Low: 21574.75
Weekly Close: 21616.05
Nifty 50 Index close on downside last week by losing approx.155.65 points.
Nifty was volatile last week. Profit booking was seen at higher levels; Nifty
made new life time high of around 2 points and noticed some profit booking
after hitting high. Market got volatile after RBI monetary policy this week. On
daily chart nifty has closed near all short term moving averages. Nifty may
react uneven at life time level. Result season has almost factored in by market;
some stock specific movement can be seen in coming days. Profit booking was
seen in midcap and small cap index at higher levels, which may continue this
month. Nifty may also follow global trend with our local factors in coming week.
10 year Bond yields in US are again above 4% and getting volatile at this level.
Dollar index is trading above 104 dollar mark, which should be taken in to
consideration. Crude is also trading above 80 dollar mark. Close eye should be
kept on crude movement and bond yield from here till US 10 year stay below
4%. Broader Range on downside in nifty has now shifted around 21450. 21450
can act as good support range for nifty now on closing basis. Next resistance
for nifty is around 22150, above that nifty can see good buying for coming
weeks. Hedge your position completely as per your risk taking capacity.Nifty
may remain in broader range between 21450 to22150 this week which is very
huge range.
Our Option Strategies
Nifty: view (Range Bound)
Trade: Expiry 29 FEBRUARY 2024
Buy 21500 Ce @ 495.60 1 lot
Sell 21800 Ce @ 308.00 2 lot
Buy 22100 Ce @ 166.00 1 lot
Max Profit: 12720/-
Max Loss: 2280/-
 14 Feb. To 20 Feb. 2024 51
Breakeven 21546 and 22054. Margin Requirement: 55000Approx.
Divis Lab: view (Bullish)
Trade: Expiry 29 FEBRUARY 2024
Buy 3750 ce @ 106.55 1 lot
Sell 3950 ce @ 44.00 1 lot
Max profit: 27490/-
Max Loss: 12510/-
Breakeven: 3813. Margin Requirement: 45000Approx.
Icici Bank: View (Bullish)
Trade: Expiry 29 FEBRUARY 2024
Buy 1010 ce @ 22.35 1 lot
Sell 1050 ce @ 8.30 1 lot
Max Profit:18165/-
Max loss: 9835/-
Breakeven: 1025.
Margin Requirements: 40000 Approx.

Trading Arun Rangpariya

Email: [email protected]
Strategy
Next Week Trading Idea and Strategy. 12th Feb. To 17th Feb.
Index
Buy NIFTY Future above 21880 TGT 22020-22150 SL 21720
Sell NIFTY Future below 21720 TGT 21580-21450 SL 21860
Buy BANK NIFTY Future above 46100 TGT 46430-46750 SL 45800
Sell BANK NIFTY Future below 45700 TGT 45380-45150 SL 46020
Future
Buy DELTACORP Future Above 141 TGT 146-150 SL 136
Sell CANBK Future Below 570 TGT 554-535 SL 585
Buy IGL Future Above 438 TGT 445-452 SL 432
Sell PERSISTENT Future Below 8660 TGT 8540-8420 SL 8725
Delivery Cal
Buy UPL Near 460-465 TGT 488-505 SL 445
 14 Feb. To 20 Feb. 2024 52
Techno Kunj Lalka
Funda E-Mail ID : [email protected]

Established in 1996, Autoline Industries Ltd is a MCap 536 crores

prominent auto components manufacturer and sup- CMP 138
plier to OEMs and other automobile companies. It 52 week /low 60/148
manufactures sheet metal components, sub-assem- Book Value 20
Stock PE 63
blies and assemblies, Foot Control Modules etc. ROCE 6.83%
Products ROE 2%
The product offerings of the Co include parking Asset T/o 1.4
brakes, hinges, cab stay and cab tilt, exhaust sys- P/BV 6.71
tems, tubular structures, fabrications, etc. for large P/sales 0.87
Debt 202 core
OEMs in the Automobile Industry. The Company is
Debt/Equity 2.52
catering to global OEM's supplying over 1500 prod- EV 733 Crore
ucts getting assembled into different passenger cars EVBITDA 16.4
and commercial vehicles EPS 0.92
• Components, assemblies and sub-assemblies: 88% Promoter holding 33%
• Tools, Dies and Moulds: 2%
• Scrap: 10%
The Co. has a strong client base consisting of Tata Motors, Volkswagen, Ashok Leyland,
Ford Motors, Fiat, Mahindra, Cummins, Tata Hitachi, Daimler etc
Key Supplier to Tata Motors
Almost 80% of its revenues comes from Tata Motors.
They are sole sheet metal suppliers for number of models like ACE, Bolt, Zest, indica,
indigo etc
Manufacturing Plant :
Autoline has 6 manufacturing facilities spread across Pune, Karnataka, Uttarakhand and
Chennai that are backed up with in-house design & engineering services and commercial
tool rooms. The co. has machines and robotic welding facilities and owns the second largest
toolroom in the auto-hub.
In FY20, the company had signed an Agreement with Kinetic Green Energy and Power
Solutions Ltd, Pune for joint development and marketing of electric bicycles. The tie-up with
Kinetic has been terminated as the Company found a better alternative for nationwide mar-
keting and selling the E-cycles
Autoline Industrial Parks Ltd., a subsidiary of the Co. had agreed with Poddar Habitat
Pvt. Ltd. to develop the residential project on its land, however, the transaction could not
proceed and the said agreement has been cancelled by both parties mutually. In FY21,
The Co. has reduced its debt by Rs.30 Cr through conversion of loan of JMFARC, repay-
ment of entire outstanding credit facilities of Axis Bank Ltd. by disposing of surplus assets
and repayment of part outstanding amount of term loan availed from Bank of Baroda by
utilizing proceeds raised through preferential issue of equity shares. The Co. also con-
verted a term loan of Rs.15 Cr of JMFARC into Optionally Convertible Debentures.
 14 Feb. To 20 Feb. 2024 53
Stock of the Vijaya Kittu Manda
Week (VijayKittu.com)

Mutual Fund Matters

The author is a Researcher. His Ph.D. in Finance thesis topic specialised on Mutual
funds. He is pursuing his second Ph.D. in Computer Science, specialising in Blockchain and
its potential applications in capital markets.
1. MIRAE ASSET MUTUAL FUND launched India's first multi-factor ETF (smart beta) in the
smallcap segment. Two fund house schemes are currently in NFO - Mirae Asset Nifty
Smallcap 250 Momentum Quality 100 ETF and Mirae Asset Nifty Smallcap 250 Momen-
tum Quality 100 ETF Fund of Fund. The scheme uses Liquidity, Quality, and Momentum
(LQM) to build its portfolio. The scheme picks 100 companies with quality and momentum
from the Nifty Smallcap 250 Index. It endeavors to potentially lower drawdowns. Ekta
Gala and Vishal Singh will be managing the schemes.Mirae Asset MF has been in India for
almost 16 years, but this is their first smallcap offering.
2. ANAND RADHAKRISHNAN was picked up as the new CEO of Sundaram Asset Manage-
ment. Anand is returning to Sundaram after eight years. He earlier worked with Sundaram
between 1996 and 2004. During this period, Anand was the MD and CIO (Equity) at Franklin
Templeton India. Anand will replace Sunil Subramaniam, who is stepping down from
Sundaram Mutual Fund after being with it for 19 years. Sundaram is currently managing
approximately Rs. 17,000 crores of AUM.
3. ONGOING / UPCOMING MUTUAL FUND NFO:Dates in closing brackets are NFO clos-
ing dates. Kotak Fixed Maturity Plan Series 328 - 90 Days (Feb 14, 2024), quant PSU
Fund (Feb 15, 2024), Nippon India Nifty Bank Index Fund and Nippon India Nifty IT Index
Fund (Feb 16, 2024), Bajaj Finserv Large and Mid Cap Fund and SBI Energy Opportunities
Fund (Feb 20, 2024), Bank of India Multi Asset Allocation Fund and Mirae Asset Nifty
Smallcap 250 Momentum Quality 100 ETF (Feb 21, 2024), Axis S & P BSE Sensex Index
Fund and HSBC Multi Asset Allocation Fund (Feb 22, 2024), Groww Nifty Smallcap 250
Index Fund and HDFC NIFTY200 Momentum 30 Index Fund (Feb 23, 2024), Kotak Tech-
nology Fund (Feb 26, 2024), Union Business Cycle Fund (Feb 27, 2024).
4. DRAFT OFFER DOCUMENT FILINGS BEFORE SEBI: HDFC Manufacturing Fund, HDFC
NIFTY Realty Index Fund, HDFC NIFTY100 Low Volatility 30 Index Fund (Feb 5, 2024),
Kotak Nifty AAA Bond Jun 2025 Index Fund, Motilal Oswal Nifty Smallcap 250 ETF,
Bandhan Innovation Fund (Feb 6, 2024), Axis Nifty Bank Index Fund, Axis CRISIL-IBX
SDL June 2034 Debt Index Fund, Helios Balanced Advantage Fund (Feb 8, 2024).Track-
ing draft offer document filings helps us understand upcoming mutual fund schemes and
their investing strategy.
 14 Feb. To 20 Feb. 2024 54
MONEY
MANTRA

Last week's technical and derivative view on Nifty expects the in-
dex to move from 21316 to 22201 in the coming days. The index is
likely to find support around 21572 followed by 21352 while a resis-
tance barrier is likely to be found around 22015 followed by 22163.
Last week's technical and derivative view on Bank Nifty expects the
index to move from 45178 to 47524 in the coming days. The index is
likely to find resistance around 46440 and then 46656 while support
is likely to be found around 45582 and then 45369.
1. This week Canara Bank Limitedabove 558may come with highs
of 570, 582 and 594. If stays below 552 then they 540, 529 and 517
can come.
2. This week Gujarat Narmada Vally Fertilizers and Chemicals
Limitedabove 650 may come with highs of 663, 676 and 689. If stays
below 644then631,619 and 606can come.
3. This weekTata Motors Limitedabove 907may come with highs
of922,937 and 953. If stays below 900 then 885, 870and 855can
come.
4. This week ICICI Bank Limitedabove 1032 may come with highs
of 1056, 1081and 1105. If stays below 1024 then 1000, 984 and 961
can come.
5. This week Bharat Forge Limited above 1105 may come with
highs of 1138, 1173 and 1207. If stays below 1097 then 1065, 1032
and 1000can come.
6. This week Grasim Industries Limitedabove2070may come with
highs of 2115, 2162 and 2209. If stays below 2059 then 2015, 1969
and 1926 can come.
7. This week Reliance Industries Limited above2943may come
with highs of 2996, 3052 and 3108. If stays below 2929 then 2877,
2822 and 2771 can come.
 14 Feb. To 20 Feb. 2024 55
Performance of “SMART PLUS NEWS LETTER”
Amazing 15% RETURN of our last News Letter Recommendation
SMART GAIN FOR SMART INVESTORS
Company Reccom. High after Ch. Company Reccom. High after Ch.
28-11-22 Recomm. (%) 28-11-22 Recomm. (%)
Lumax Ind. 1887 1960 3.87 Bajaj Auto 3640 3707 1.84
Balkrishna Ind. 2027 2062 1.73 BOB 168 171 1.79
JK Cement 3014 3202 6.24 Zydus 1576 1604 1.78
HCL Techno 1120 1136 1.43 Metropolis 1460 1476 1.1
Power Mech 2135 2258 5.76 ACC 2503 2577 2.96
Britannia 4184 4399 5.14 M&M 1260 1293 2.62
Atul Ltd. 8186 8659 5.78 CIPLA 1105 1124 1.72

Ultratech Cement 6874 7279 5.89 Sadbhav Engg. 14 16 14.29

Persistent Sys. 3970 4325 8.94 GMR Airport 40 42 5

ION Exchange 2616 2773 6 Rajshree Sugar 41 42 2.44

IOC 74 76 2.7
Piramal Ent. 827 863 4.35
Donear Ind. 63 65 3.17
Escorts 2258 2364 4.69
Redington 175 179 2.29
TCS 3390 3475 2.51
Exide Ind. 185 188 1.62
L&T 2062 2103 1.99
Suntek Realty 394 404 2.54
Metro Brand 801 833 4
FACT 142 144 1.41
Intellect Desing 448 467 4.24
I.B. Housing Fin. 138.1 142 2.82
Birla Corp. 935 977 4.49
Home First 721 750 4.02
GE Shipping 666 679 1.95
Apollo Tyres 293 315 7.51
Ambuja Cement 564 581 3.01
Welspun Ent. 147 156 6.12
Max Fin. 665 701 5.41

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 14 Feb. To 20 Feb. 2024 56
REVIEW OF Smart Bonanza Eng. & Guj.
Issue No. : 32 • Date : 30-11-2022

Company Reccom. High after Ch. Company Reccom. High after Ch.
30-11-22 Recomm. (%) 23-11-22 Recomm. (%)
BUY BUY BPS Raja
Sail 82 85 3.66 Sri KPR Ind 22 23 4.55
AB capital 144 147 2.08 Aditya Birla Capital144 145 0.69
ICICI Pru 470 476 1.28 Lambi Race
Berger Paints 611 620 1.47 jkCement 3051 3202 4.95
United Spirits 907 925 1.98 Persistent 4033 4325 7.24
Lupin 750 770 2.67 Indigo 1908 1941 1.73
Bata India 1700 1720 1.18 Bullseye
Trent 1447 1462 1.04 Indigo Paints 1324 1336 0.91
SBI Life 1258 1290 2.54 Punter’s Patara
JKCement 3051 3202 4.95 LemonTree 93 98 5.38
Grasim 1719 1797 4.54 Indigo Aviation 1908 1941 1.73
HUL 2633 2662 1.10 Quess Corp 437 442 1.14
L&T 2049 2103 2.64 Zomato 63 66 4.76
Thermax 2026 2052 1.28 NBCC 41 42 2.44
Pidilte 2726 2733 0.26 PNB 52 53 1.92
Britannia 4282 4399 2.73 Mid Cap
MRF 92555 94415 2.01 Den Network 35 36 2.86

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 14 Feb. To 20 Feb. 2024 57
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 14 Feb. To 20 Feb. 2024 58
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