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Financial Weekly
SMART 17th Feb. 2018 to 23rd Feb. 2019 2

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64
GAMC No. :1703/2018-20. Issued by SSP Ahd. Valid up to 31-12-2020

VOL : 12 • Issue No: 1 RNI No : GUJENG / 2008 / 24320 17th Feb. 2018 to 23rd Feb. 2019
FII Activity (Rs. in Cr.)

Date Buy Value Sell Value Net Value
11-02-19 3981.86 4106.91 -125.05
12-02-19 4020.15 4486.93 -466.78
13-02-19 4536.03 5212.66 -676.63
14-02-19 5405.02 5655.25 -250.23
15-02-19 4947.3 5913.73 -966.43
22890.36 25375.48 -2485.12
DII Activity (Rs. in Cr.)
Date Buy Value Sell Value Net Value
11-02-19 3027.08 3259.63 -232.55
12-02-19 2441.11 2563.75 -122.64
13-02-19 3092.68 2379.58 713.1
14-02-19 3416.14 2190.9 1225.24
15-02-19 4220.15 3366.9 853.25
16197.16 13760.76 2436.4
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Financial Weekly

INVESTMENT
Rapid Fire Stocks
- Kalpna J (Email- Kjtech79@gmail.com)
(Ring : 97690 37711) Twitter : @Kj_TechTrades
Sell Recommendation
Sell Chennai Petro
CMP- 205, Target- 178-140 - SL - 221
Stock is trading below all its EMA and has Broken Strong Support of 207.
, Price is at 52 Week Low and Weak Structure On Charts and Making New
Lows Daily and Weekly
Reliance Industries Ltd. Buy at CMP

Targets - 1244-1450, Time Frame - 6-18 Months, SL - 1170
As Reliance sets sights on even more ambitious goals, inspired and guided by the story and
philosophy of our founder chairman Dhirubhai Ambani. Hailing from modest means, he followed
his dream to create India's largest company. Reliance as an organisation has adopted this ethos of
converting adversity into opportunity and making the impossible possible by challenging conven-
tional wisdom.
1) March 16, 2018: Recognized for their innovation and bringing transformational change to
Category No. of shares (%) India, Reliance Industries Limited (RIL), a lead-
Promoters 2,926,202,148 46.20 ing provider of energy, petrochemicals, textiles,
retail, telecommunications and digital services,
Foreign Institutions 1,483,334,919 23.42
was presented with the ‘Drivers of Change’
General Public 593,740,393 9.37 award at the Financial Times ArcelorMittal Bold-
Financial Institutions 546,235,445 8.62 ness in Business Awards
Others 438,626,274 6.93 2) Barcelona, Spain, 28th February 2018: Re-
GDR 170,258,486 2.69
liance Jio Infocomm Ltd. (Jio) announced today
that the JioTV app has won the “Best Mobile
NBFC and Mutual Funds 166,016,634 2.62
Video Content” award at the prestigious Global
Central Government 9,089,220 0.14
Cont...
Financial Weekly

INVESTMENT
Mobile (GLOMO) Awards 2018 at the Mobile World Congress (MWC). The other nominees for this
award included Airtel TV, Migu Hot Video & Bioscope Live TV.
3) Mumbai, 9th March 2018: India’s popular Live TV App JioTV announced that it has intro-
duced India’s FIRST interactive sports experience for consumers watching the ongoing tri-nation
Nidahas trophy which is being shown exclusively on JioTV in India. With this, JioTV consumers
can interact with the game while watching it - A revolution in the Live TV space.
Reliance Industries Ltd., incorporated in the year 1973, is a Large Cap company (having a mar-
ket cap of Rs 577878.54 Crore) operating in Miscellaneous sector.
For the quarter ended 31-12-2017, the company has reported a Consolidated sales of Rs
99810.00 Crore, up 9.10 % from last quarter Sales of Rs 91481.00 Crore and up 18.55 % from last
year same quarter Sales of Rs 84189.00 Crore Company has reported net profit after tax of Rs
9406.00 Crore in latest quarter.
HDFC Bank Buy at CMP : 2105

Target - 2265 to 2350,
SL- 1920, Time Frame 6 to 12 Months
HDFC Bank - HDFC Bank Ltd is a major Indian financial services company based in
Mumbai. The Bank is a publicly held banking company engaged in providing a wide range of
banking and financial services including commercial banking and treasury operations. The
Bank at present has an enviable network of 2201 branches and 7110 ATMs spread in 996
cities across India. They also have one overseas wholesale banking branch in Bahrain, a
branch in Hong Kong and two representative offices in UAE and Kenya. The Bank has two
subsidiary companies, namely HDFC Securities Ltd and HDB Financial Services Ltd
Financial Weekly

INVESTMENT
Smart SME Stocks - Dilip K. Shah
SME STOCKS TO BE CONSIDERED

Due to easier norms and fast process of SEBI, companies with good funda-
mentals are getting encouraged for SME listing. However, if the lost size is brought
down to Rs25,000 or 200 to 300 shares, the segment may witness liquidity.
Yasho Ind. (Rs126.00) (Code:541167). (FV:10) (Market Lot : 1200 shares)

:- The stock has remained strong in correction mode of the market. The stock
prices may double in near future. The stock prices will remain strong despite bad
market. It produces chemicals that is used in almost all kinds of products. The
stock has capacity of growing four times.
Zota Healthcare (Rs.266.00) (NSE SME) (FV:10) (Market Lot:500 shares)

:- ZHCL started its operation in 2000 with pharma products market of allopathic
and ayurvedic medicines. It manufactures different tablets, capsules, ointment,
oral liquids, injectable, etc as per the requirements of the clients. It has capacity of
growing as a giant pharma company in future. It is planning to set up retail counter
chain of around 3,000 counters and also to launch many new products. Stock
prices went up to Rs292 and down to Rs203 in 52 weeks.
Sanginita Chemicals (Rs.45.00) (NSE) (FV:10) (Lot Size:1000 shares) :-

Gandhingar-based chemical company came up with IPO at price of Rs22 on
March 10, 2019 which got listed at Rs23. The stock prices went up to Rs124 and
down to Rs36 during 52 weeks. The stock seems attractive at current price. It is
advisable to book profit till lot size is changed.
Disclosures as per SECURITIES AND EXCCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may have investment in this
stocks • I/My family have no financial interest or beneficial interest of more than 1% in the company whose stocks I am recommending • Stop loss is useful for Short
/ Medium Term investor Only • Smart Investment will not be responsible / liable for any loss arising out of investment based on tis advices • Past performance may or
may not be substainedin future " (Dilip K. Shah) Research Analyst : SEBI Regn No. : INH000002152
Financial Weekly

INVESTMENT
SMART
BUY OF THE WEEK
Dark Horse
MEGHMANI ORGANICS LTD

(532865 & NSE) (50.45) (Face Value Re.1)
Incorporated in 1986, Meghmani Organics Limited manufactures, sells, and distributes pigments
and pesticides. The company operates in three divisions: Pigments, Agrochemicals, and Basic
Chemicals. The Pigments division offers phthalocynine green 7, copper phthalocynine blue, alpha
blue, and beta blue pigments that are used in various applications, including printing inks, plastics,
paints, textiles, leather, paper, and rubber. The Agrochemicals division engages in the manufac-
ture and sale of technical, intermediates, and formulations of insecticides, fungicides, and herbi-
cides, which are used in crop protection, public health, termite and insect control, and veterinary
applications. It offers its formulations prima- Particular 3 Month Ended
rily under the Megastar, Megacyper, Q3FY19 Q3FY18 % Var.
Megaban, Synergy, and Courage brand
Sales 552.34 450.43 22.62
names. The Basic Chemicals division manu-
factures caustic chlorine and caustic potash, PBT 66.08 43.37 52.36
which are used by the agriculture sector, in- PAT 2.61 1.71 52.63
dustry, and directly by the consumers. It offers its products to customers through direct sales teams
and distributors/agents in North America, Europe, Central and Latin America, and the Asia Pacific.
It exports its products to 75 countries. It is also involved in trading activity. It has 7 manufacturing
facility in Gujarat. Company is amongst top 3 global Phthalocyanine based pigment players, one
of the largest producers of pesticides in India. It is 4th largest caustic-chlorine player in India and
one of the lowest cost producers of caustic soda in India.
It has an equity capital of just Rs.25.43crore supported by reserves of around Rs.861.61crore.
The promoters hold 50.68% & FIIs hold 2.47% while other investing public hold 46.85% stake in
the Company. Promoters have increased their stake by 0.37% in December Quarter.
Company has posted robust numbers for Q3FY19 & 9MFY19. During Q3FY19 it has reported
22.62% higher sales of Rs.552.34cr while its PAT zoomed 52.36% to Rs.66.08crore against
Rs.43.37crore fetching an EPS of Rs.2.61. During 9MFY19, its net profit zoomed 52.56% to
Rs.184.48crore from Rs.120.92crore in 9MFY18 on 11.52% higher sales of Rs.1530.23crore fetch-
ing an EPS of Rs.7.27. 9MFY19 PAT is 7.58% higher than PAT recorded for FY18.
Currently, the stock trades at a P/E of just 5.5x. It has paid 40% dividend for FY18. Its 52 week
high rate is Rs.114.4. Stock almost corrected 56% from 52 week high.
Investors can accumulate this stock with a stop loss of Rs.40. It may give very good returns in
medium to long term.
Financial Weekly

INVESTMENT
TRADNICAL STRATEGY
Email: nimesh@nimeshthaker.com, M. 9228237373
NIMESH THAKER, BARODA
Sebi Registered NO. : INH000005874
Nifty Tested lower range of Support

Expect Bounce
Last week my view was, avoid taking any positions until trend is not clear, definitely had
saved huge amount for bulls, as nifty falls in all trading sessions in the week. Global market
indicates strong rallies in equity , after weak economy data from US , indicates liquidity
conditions will improve as FED may reduce bond buying program. Secondly domestics point
of view, the bad incident was happened in Kashmir and a result of this- nifty made low of
10620, I think the impact of this event on market is limited until serious war will not started. .
On technical point of view, Nifty is moving in side-way channel where it has taken support
of lower arm and bounce almost 100 points in Friday's session indicates possibility of trend
reversal. On downside 10620-10600 considers as strong support while on upside 10850-
10920 may act as resistance for Nifty.
On option point of view, Nifty 10700 Put option indicates highest open interest positions
Financial Weekly

INVESTMENT
which we can considered as strong support for near term. While on 10900 and 11000 call
option witness short covering of positions.
With keeping all data in my mind , I think Nifty can bounce from current level , however
confirmation is still pending from technical point of view, So I recommend to wait for confir-
mation for fresh long position in nifty. if nifty close above 10750 then recommend to buy with
the target of 10850-10925-11020 in short term wtih stoploss below 10580 level.
For your investment related queries you can contact me on 9228237373
AB Capital : (Buy Range: 80.5-79.5)

Target: 86-88 stop loss 77
Allocation: 10% of trading capital
Morning star formation near strong support zone of 80-77 level, has seen on daily chart
indicating trend reversal. The stock has trading in oversold zone. I expect it may test up to
86-88 level in short term hence recommend to buy
Buy or Sell, Confused ?

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Financial Weekly

INVESTMENT
Stock Buzz Subramanian Mahadevan

dolphincapital@gmail.com
EPC Industries Limited

(Rs.101):Nice Harvest!
EPC Industries Limited (EPCIN) - is a Nashik (Maharashtra) based company incorporated in
1981 and currently owned by renowned Mahindra group (M&M) - $19 billion multinational group
based in Mumbai with controlling stake of 54.76% after it acquired from erstwhile promoters in
2011 enabling M&M to enter micro-irrigation sector. This has been a related diversification (Farm-
to-Fork model) for M&M in the agriculture space where it has a major presence in machinery and
services through the Farm Equipment Sector. EPCIN provides complete solution for agriculture
with products of international standard and high focus on micro-irrigation, pumps & inter-related
requirements of fertigation & agronomic support and has a strong & widely spread network with
presence in more than 15 states. Its product include Drip Irrigation System, Sprinkler Irrigation
System, Pumps, Pipes and Landscape& Turf Irrigation. Under the leadership of M&M, once debt
saddled EPCIN with multiple challenges of managing growth and liquidity constraints emerged
stronger than before wherein topline almost trebled and bottom-line rose 10X in the last five years
despite poor monsoon and even worst drought in few northern states. Market leader Jain Irrigation
still controls giant share of 55% (Market Size: 2500 crore) in the micro-irrigation space and EPCIN
is poised for phenomenal growth in the years ahead. Q3 2018 results were really good wherein
topline grew by 43.42% to 77.34 crore and PAT grew by 50.24% to 3.93 crore. By 2020 M&M may
merge the entire agri-business into one single large listed vertical viz FineGrade (Pulses), Saboro
(Fruits, Dairy), NuPro (Edible Oil) and other allied service and products within EPC and won't be
surprised if EPCIN becomes 1000 crore company in next four years. Buy on declines for multi-
bagger returns.
MEP Infrastructure Developers Limited
(Rs.37):Well Designed Highway!
MEP Infrastructure Developers Limited (MEP) - is a Mumbai based company and considered as
one of India's leading infrastructure operator and toll Management Company focusing on serving
central and state road authorities across the country, for managing, operating and maintaining their
road assets with presence across 12 states within the country. Today MEP is an end-to-end ser-
vice provider, covering OMT services, Toll Collection, BOT assets and construction of bridges.
More specifically, MEP maintain and operate roads, highways, flyovers and bridges, and also col-
lect toll on behalf of the clients. Along with its subsidiaries, MEP has completed 95 projects under
Financial Weekly

INVESTMENT
its management across India - many of them first of a kind - in 12 states, including an aggregate of
182 toll plazas and 1086 lanes and undertakes toll collection at the Rajiv Gandhi Sea Link project,
Mumbai since its opening in 2009. MEP Infra came out with an IPO in April 2015 to raise around
324 crore issuing at Rs.65/share mainly intended to retire some debt and for some additional work-
ing capital requirement. Considering its performance in the preceding five quarters, slew of huge
order wins and management optimism coupled with 35% discount in its current price compared to
its IPO, investor can considering buying at current levels for up to 50% returns in two years' time.
The company has reported net sales of Rs.2167.10 crores during the 9 months period ended
December 31, 2018 as compared to Rs.1631.04 crores same period last year. Also the net profitof
MEP was Rs.39.97 crores for the 9 months period ended December 31, 2018 translating into an
EPS of Rs.2.18 Company still has the potential to post an EPS of Rs. 3.5 for full year FY19 and
Rs.4.5 in FY20 which translates into a P/E of less than 12. Good EPC stock in the infrastructure
space available at reasonable valuation
Nifty & Sensex Movement during the last week

NSE - Nifty Open High Low Close Diff
11-Feb-19 10930.9 10930.9 10857.1 10888.8 -54.8
12-Feb-19 10879.7 10910.9 10823.8 10831.4 -57.4
13-Feb-19 10870.55 10891.65 10772.1 10793.65 -37.75
14-Feb-19 10786.1 10792.7 10718.75 10746.05 -47.6
15-Feb-19 10780.25 10785.75 10620.4 10724.4 -21.65
Net Weekly Loss -219.2
BSE Sensex Open High Low Close Diff
11-02-19 36,585.50 36,588.41 36,300.48 36,395.03 -151.45
12-02-19 36,405.72 36,465.40 36,113.91 36,153.62 -241.41
13-02-19 36,279.63 36,375.80 35,962.68 36,034.11 -119.51
14-02-19 36,065.08 36,109.10 35,799.42 35,876.22 -157.89
15-02-19 35,985.68 36,022.57 35,510.97 35,808.95 -67.27
Net Weekly Loss -737.53
Financial Weekly

INVESTMENT
Jatin Sanghavi
Market Scan (Mumbai)
(M) 098205 26455
jatinsanghavi100@yahoo.com
WHERE DO WE GO NOW ?
TREND TURNS BEARISH :- Last week the Market gave a Trading Range breakout and seemed
to be headed higher, but that was not to be. After registering a high of 11118 last week, the Nifty fell
by 500 points in next six days. Nifty retested and rebounded from just above the previous intermit-
tent bottom of 10583. So once again the Nifty has entered into a Trading Range and this time it is
wider from 10583 to 11118. Last weeks fall ensured that the Nifty closed below the relevant Mov-
ing Averages and hence the Trend has turned Bearish. Hence every rise from hereon will be treated
as a selling opportunity. Only a close above 11089 will ensure Nifty a safe passage towards higher
targets of 11416-11644. A break below 10583 will lead the Nifty down to Support level of 10333
and then towards the dreaded neckline of Weekly Bearish Head & Shoulders at 10050.
TECHNICALLY SPEAKING :- Sensex opened the week at 36585, made a high of 36588, low
of 35510 and closed the week at 35808. Thus it closed the week with a loss of 738 points. At the
same time the Nifty opened the week at 10930, made a high of 10930, low of 10620 and closed the
week at 10724. Thus the Nifty closed the week with a loss of 219 points.
On the daily charts, both the indices have formed a Black body candle with a long lower shadow
just falling short of being called a Hammer. On the weekly charts, both Sensex and Nifty have
This Weeks Recommendations

Rec. Name CMP SL TGT-1 TGT-2
Sell HDFC 1875 1903 1833 1790
Sell CoLPaL 1234 1259 1196 1167
Sell Biocon 615 627 597 578
Sell Siemens 962 982 932 901
Sell Berger P. 293 299 284 274
:::: INDEX LEVELS ::::
S3 S2 S1 CLOSE R1 R2 R3
NIFTY 10440 10534 10620 10724 10821 10941 11043
SENSEX 34672 35010 35375 35808 36123 36554 36898
Cont...
Financial Weekly

INVESTMENT
formed an Opening Black body Marubuzo. Thus more than daily, weekly candlestick study indi-
cates bearishness.
After getting a Trading Range breakout last week, both the indices fell and seems have once
again entered a wider Trading Range between Sensex 37172-35010 and Nifty 11118-10534. Af-
ter last weeks fall, the Nifty is now headed lower and probability of breaking the lower end seems
higher. A break below Nifty 10583 will retest the Support level of 10333 and then further go down
to test the Head &Shoulder neckline of 10050.
Interestingly all the significant Moving Averages (20dma, 50dma & 200dma) have converged
into a narrow Confluence Zone between Sensex 36008-36243 and Nifty 10816-10860. This Zone
will act as Resistance Zone and every rise into this zone will be taken as a Selling opportunity.
The Correction of the current upward Retracement is at Sensex 35300-34922-34538 and Nifty
10610-10494-10379. A break below Nifty 10379, will see the intermediate Correction resuming
and the intermediate Correction levels are placed at Sensex 33920-32354-30788 and Nifty 10283-
9827-9371. Higher degree Correction levels are placed at Sensex 32688-30742-28796 and Nifty
9875-9293-8710. Thus we have two confluence zones which will act as Support Zones. First
Confluence Support Zone is between Sensex 32688-32354 and Nifty 9875-9827. Second
Confluence Support Zone falls between Sensex 30788-30724 and Nifty 9371-9293.
This week, both the indices closed below all the Moving Averages viz. the long term average of
200dma (Sensex - 36008 and Nifty - 10860), the medium term average of 50dma (Sensex - 36070
and Nifty - 10816) and also the short term average of 20dma (Sensex - 36243 and Nifty - 10847).
Thus the Trend in long term, medium term and short term has turned Bearish.
MACD is in Sell mode. RSI (42) suggests Bearish momentum. Stochastic Oscillator %K (32) is
below %D and hence in Sell mode. ADX (13) suggests a further sideways consolidation with no
clear trend. Directional Indicators are in Sell mode as +DI has below -DI. MFI (46) suggests Nega-
tive Money Flow. OBV is still making higher top higher bottom. Buy signal in Bollinger Band has
got negated. Thus majority of Oscillators are suggesting a Bearish bias.
Options data for February series indicate highest Call Open Interest is at the strike of 10800
whereas the highest Put build-up is at the strike of 10600. Thus Options data suggests a narrow
trading range with resistance at 10800 & support at 10600.
Financial Weekly

INVESTMENT
Jignesh R Mehta
(SEBI Registered Research Analyst)
E-mail : support@kiranjadhav.com
Website : www.KiranJadhav.com
Phone: 9327 11 3344 / 9328 11 33 44
Twitter: @jigneshrmehta
This week's Low is Good Support

Amid volatile crude oil, instable Rupee against the Dollar, Election environment And finally the
backdrop of FII as net sellers, Indian Equity market is seeing the most nervous time of the year. The
fierce sell off that continues in MIDCAP100 and SMALLCAP100 looks frightening at these stage. It
takes us back to the earlier lows which it has both MIDCAP & SMALL CAP made during OCT-19
and around. While everything looks really fierce, we believe that the low which we have made this
week is an important support for going ahead in the next week at least for NIFTY & BANK NIFTY.
We also believe that it may be exasperating time for equity holders of last 2 years or new market
entrants but still we are not down and out. Because on NIFTY and BANKNIFTY, we are still form-
ing BULLISH SPREAD on long term EMAs. NIFTY is still trading well above important long term
support line.
Cont...
Financial Weekly

INVESTMENT
Our set of long term EMAs are 26, 34, 40, 45, 50 & 60 days and bullish spread formation to us
means that the 26 period leading from the front on upside and rest of all other are following it to
upside one by one. This sort of EMA spread is not only found on NIFTY but it is still there on
BANKNIFTY currently. Any time spot going below the longest term EMA, it suggests a buy level, if
formation is bullish hammer. The same hammer is seen on NIFTY on the last day of the current
week. For MIDCAP100 and SMALLCAP100 what has happened is just a failure of first attempt
spot to take upside stairs. It happens when both these indices have fallen about 35 to 40% after a
long time in last one year. Now that the first Hammer we have picked up on NIFTY suggests that it
has a great support at 10620 levels. Similar support on BANKNIFTY is at 26602. We strongly
believe that both indices are not in hurry to break them in next week. Supports on MIDCAP100 and
SMALLCAP100 on a larger notes are 15500 and 5500 which we believe are going to be held for a
long term now.
Jignesh R Mehta
(SEBI Registered Research Analyst) www.kiranjadhav.com support@kiranjadhav.com Phone:
9327 11 33 44 / 9328 11 33 44
Twitter: @jigneshrmehta
Disclosers : Views expressed in this article/articles are personal opinion of Author and it does
not constitute an offer to buy or sell securities mentioned herein. Enough care has been taken
before arriving at these data, figures & charts, however, readers are advised to do their own as-
sessment before taking any actions in the market. The author and his company does not take any
responsibility for any results that may arise out of using this information.
Financial Weekly

INVESTMENT
- Parag Salot
Technical Trading Trends (SEBI Registered Research Analyst)
M. : 91-9930011789
Nifty Overview : In Last Trading Session, Nifty closed at 10750. Last week we suggested
that if Nifty goes below 10800 then can touch 10650 levels and Nifty indeed made a low of
10641. Nifty immediate support is now at 10650 levels and resistance is at 10950 levels.
Nifty seems in a range until support or resistance will be broken.
Bank Nifty Overview : In Last Trading Session, Bank Nifty closed at 26840. Last week we
had suggested that if Bank Nifty goes below 27150 then will be more negative and it made a
low of 26721 levels. Bank Nifty looks positive above 27065. Bank Nifty support is at 26650/
26400 levels.
Last Recommendation Review
Scrip Name BSE Buy/ Enter Did High/ Remark
Code Sell at Low
DHFL 511072 Buy 103 131 Target Achieved
HDFC Bank 500180 Buy 2120 2159 Target Achieved
Infy 500209 Sell 774 736 Target Achieved
Trading Buy
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
HDFC Bank 500180 2104 2120 2135 2155 2085
ICICI Pru 540133 303 295/300 308 315 288
KPIT 532400 109 105/108 112 116 103
MFSL 500271 387 383/385 392 398 378
NMDC 526371 91.75 93.5 95.5 97 91.75
PC Jewellers 534809 66 63 67 70 60
Tata Motors 500570 162 150 157 165 145
Trading Sell
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Bata 500043 1259 1270/1280 1250 1230 1295
Wipro 507685 376 385/388 375 360 395
Note : All calls are momentum calls based on technical analysis and all levels as per future prices (If scrip not available in futures then BSE Cash price). All
these calls are given based on daily charts but intra-day signals are equally important to enter the trade in a timely manner. Timing is very important and we at
shareinfoline.com give you timely calls based on intra-day charts. Read Disclaimer at ShareInfoline.com
Financial Weekly

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• What is Technical Analysis..?
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• Various Candlestick and Chart Patterns
• Use of various Indicators and Oscillators in price chart
and their effect on price
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Commodity Traders, Currency Traders, Students etc.
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Financial Weekly

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Smart Education - Yog Joshi

Technical Analysis
From
Basic to Advance
Topic - 8 (5) - Type of Candlestick Pattern

Dark Cloud Cover and Piercing Pattern
( Double Candlestick Pattern)
Hello Friends,
In the last issue of Smart Investment, we discussed about double candle-
sticks reversal pattern Bullish Harami and Bearish Harami
Hope now you all are know the location importance and its effect in the candle-
stick chart
Today we are going to discuss, last
double candlestick reversal pattern
and its known as " Dark Cloud Cover"
and Piercing Pattern
Dark Cloud Cover : The word itself rep-
resent it effect and that is, Bearish atmo-
sphere started at the pick of Up Trend.
Now we discuss it in detail, that this type
of candlestick pattern form at top of the Up
Trend, when a bearish candle form at top of the
Up Trend with gap up opening and come down
below almost 50% or more with respect to pre-
vious last candle of the Up Trend, and if we get
second confirmation candle as a bearish candle
which close below the open price of last bullish
candle, this is the price area where bearish re-
versal may expected and it may end of the cur-
rent Up trend / Up Side swing
This pattern is known as bearish reversal
pattern
This will be a more clear with the help of shown
picture
Cont....
Financial Weekly

INVESTMENT
Piercing Pattern : The word itself repre-
sent it effect and that is, Bearish candle
pierce by Bullish Candle
Now we discuss it in detail, that this type
of candlestick pattern form at end of the
Down Trend, when a Bullish candle form at
end of the down trend with gap down open-
ing and come up side almost 50% or more
with respect to previous last candle of the
Down Trend, and if we get second confir-
mation candle as a bullish candle which close
above the open price of last bearish candle,
this is the price area where bullish reversal
may expected and it may end of the current
Down Trend / Down Side swing
This pattern is known as bullish re-
versal pattern
This will be a more clear with the help of shown picture
In next issue of Smart Investment, we will discuss about triple candlestick
pattern and its Morning Star and Evening Star.
BUY.... BUY....BUY TIPS OF THE WEEK

Co. Name Code Price Co. Name Code Price
Infibeam 539807 39.00 Page Ind. 532827 21982.00
J & K Bank 532209 39.00 KSB Pump 500249 660.00
I.B. Real 532832 71.00 Bharat Fin. 533228 944.00
Electrotherm 526608 170.00 Shopper Stop 532638 505.00
Meghmani Org. 532865 50.00 Mind Tree 532819 894.00
Balrampur Chini 500038 117.00 PVR 532689 1490.00
Tera Soft. 533982 42.00 Endurance 540153 1245.00
Greaves Cotton 501455 118.00 AIA Engg. 532683 1688.00
SPARC 532872 163.00 Mphasis 526299 1054.00
J.B. Chemical 506943 310.00 P.I. Ind. 523642 892.00
Surya Roshni 500336 207.00 SRF 503806 2199.00
LIC Hsg. 500253 440.00 Insecticides 532851 610.00
EMAMI 531162 360.00 Tata Elxsi 500408 860.00
Financial Weekly

INVESTMENT
TECHNICAL TALK Dhananjay Kadam

TECHNICAL ANALYST, M. 7588622374
STOCKS TO SHORT FOR GOOD GAIN

NIFTY - In last week article we have said that the NIFTY have a small support of 10,800 and if it
breaks it then we see more downtrend till 10,600. As we said, NIFTY starts its weekly journey at
10,930 and on Friday NIFTY made a low of 10,620
In stocks we have given MRF & EXIDE IND to short
MRF given to short in the range of 56,500 TO 59,500 with SL of 61,000 on Weekly closing basis
for Target of 46,700, and in this week MRF made a low of 54,725
Exide Ind given short at 211.25 with SL of 220 on Daily closing basis for Target of 180 and in
this week Exide Ind made a low of 203.50 We assume that more downtrend is still remaining in this
both stock you can short them according to given levels.
TATA ELXSI -: On 13/1/2019 in Smart
Investment Article we had given TATA ELXSI
to short at 962 Levels, from that day this stock
is continuously going in downtrend direction
and its Friday's closing price is 860Rs. From
our recommended level this stock has given
downward movement of more than 100rs.
Now stock has made new pattern called
"Head & shoulder" According to this pattern
Tata Elxi can go below 670 to 650 Rs We can
short this stock with Stop Loss of 903 on
Weekly closing basis and time frame will be
3-4months. The Risk: Reward ratio for this
trade is more than 1:5.
CENTURY TEXTILES & IND. Ltd : This Stock has closed today at 713. From 1480 Rate this
stock has shown the continuous (Down Trend).By taking support of 775 this stock has gave some
upmove,but now the stock has broke it's 775 support and on weekly chart Stock has made Head
and Shoulder Pattern.This pattern shows Bearish Trend in midterm in this stock and according to
this pattern stock can test it's old

pattern support of 400Rs. But cur-
rently due to RSI is in oversold
zone so in coming week we can
see some upmove till 720-
735,and after that down trend will
continue. By keeping some pa-
tience we can short this stock for
the Target of 400Rs and we can
maintain Stop loss of 775 Rs on
Weekly Close Basis.
Financial Weekly

INVESTMENT
SRF :- On 15/2/19 Stock is closed on 2201. This stock has started its uptrend journey at 8/10/
2018 from Rs 1617 to made a high if Rs 2277 on 20/12/2018. And after that it went down to 1906.
And after some consolidation now again stock made "U" shaoe uptrend. Yesterday Date 14/2/
2019 Stock made a high of
2282 and today again it made
bearish move. On daily chart
this stock has a made a
Double Top Formation, which
is Reversal Bearish Pattern.
According to this we expect
first target of 2100 Second Tar-
get of 2050 and 3rd Target of
1960 in one month. We can
short this stock for 20 to 25 days
for above mentioned targets ,
and we can maintain Stop Loss
of "2242" on Daily closing ba-
sis.
Think about NIFTY FUTURE ?

Think
WWW. NIFTYPREPAID.COM
Enjoy REAL Profit !!!!
Make CONSISTENT Profit !!!!
8401810865
Financial Weekly

INVESTMENT
Commodities Chart & Levels

Bharti Joshi CFA, (SEBI Registered Research Analyst / www.multibaggers.co.in)
CRUDE OIL :- Crude oil con-

tinued to move in upswing after
taking support at 3660. Currently
it managed to take resistance of
3980, above this we could see
crude oil moving to breach its fur-
ther resistance of 4150. On lower
side 3660 will be acting as strong
support if it fails to sustain over
here we could see it moving down
up to 3570.
SILVER :- Silver chart

shows clear uptrend of
higher top and higher bot-
tom. After making top of
40786 we could see correc-
tive swing but it is currently
sustaining above its previous
support of 38733, above this
support we could see de-
mand perusing in silver. By
breaching level of 40786 we
could see silver touching lev-
els of 41550.
GOLD :- Gold chart is

in full bullish trend only we
could see regular demand
perusing at every deep and
we could see bounce back
appearing. We are currently
watching 5 year high levels
in gold. Above 33750 we
could see up rally extend-
ing up to 34600 to 35000.
On lower side 32800 will
act as strong support.
Financial Weekly

INVESTMENT
Techno Funda sound stocks Sachin Shah

(Mumbai)
Manappuram Fin.
(531213 & NSE) (103.8) (FV 2)
Manappuram Finance Ltd or is a non-bank-
ing financial company (NBFC) primarily in Gold
Finance. The company is headquartered in
Thrissur, Kerala. Manappuram has over 4208+
branches across 28 states, a staff strength of
over 24717.The company has various financial
products such as Online Gold Loan, Gold Loan,
Forex and Money Transfer, SME Finance,
Home loan, Vehicle Loan and Commercial Ve-
hicle Loan.
As of Q3FY19 the company posted consolidated net income of Rs 1081.20 crores and net
profit of Rs 247.16 crores as compared to net income of Rs 872.78 crores and net profit of Rs
173.37 crores in the same quarter last year registering growth of 42% in PAT on YoY basis.
Stock is trading at PE ratio of 10.3 based on TTM earnings and Price to Book value ratio of 2.30.
The stock made an all-time high of Rs 130.45 in May 2018 and then corrected to form a
low of Rs 66.25 in October 2018 taking support around bottom formed in Dec 2016,50 Month
Moving Average and Monthly Super trend Level. The stock has then risen to 103. On techni-
cal front the stock is in buy mode on MACD, Super Trend and Parabolic SAR on Daily and
Weekly chart and Super trend buy in Monthly chart. The stock can be bought at every de-
cline with a target price of Rs 130 in next 15 to 18 months.
UPL LTD
(512070 & NSE) (816.65) (FV 2)
UPL Ltd is as a generic agrochemical com-
pany providing total crop solutions with pres-
ence in 138 countries. UPL is ranked 5th in the
world in its sector and is targeting $7Bn rev-
enues and a 10% market share by 2022. Com-
pany provides pre-sowing to post-harvest crop
care technologies, biosolutions, innovative
plant health and post-harvest hybrid platforms.
It is having 48 plants worldwide.
Company has posted muted numbers for
Q3FY19, PAT declined 19.69% to Rs.461 crores as against Rs.574 crores on 17.33% higher
sales of Rs.4921 crore. Last year Company has acquired Arysta LifeScience Inc. and its subsid-
iaries (collectively "Arysta"), a global provider of innovative crop protection solutions, including
BioSolutions and Seed Treatment, for approximately US$4.2 billion.
The stock made an all-time high of Rs 902.5 in August 2017 and then corrected to 537 in July
Cont...
Financial Weekly

INVESTMENT
2018 over nearly an entire year. The stock took support at Monthly Super Trend Level and has
risen to 812 and formed a new 52 week high recently. On technical front the MACD, Super Trend
and Parabolic SAR indicate buy on Daily, Weekly and Monthly charts. The stock can be bought
at every decline with a target price of Rs 1100 in next 18-21 months.
SKF INDIA
(500472 & NSE) (1950.5) (FV 10)
SKF India Ltd provides industry leading auto-
motive and industrial engineered solutions
through bearings, seals, mechatronics and lubri-
cation solutions and many other vehicle
solutions.SKF India is a subsidiary of ABSKF
Sweden founded in 1907,the world's largest
bearing manufacturer.SKF India has 6 manu-
facturing facilities,12 offices,300+ distributors and
workforce of over 2600 employees.
During 9MFY19, its PAT zoomed 13.03% to
Rs.253.61 crore from Rs.224.38 crore on 8.92%
higher sales of Rs.2288.64 crore.
The stock made a high of Rs 1970 in January
2018 and then corrected to 1600 in October 2018 where the stock took support of 26 Month Expo-
nential Moving Average and has gradually formed an all time high recently of 1989.On technical
front MACD, Super Trend and MACD indicate buy on Daily, Weekly and Monthly Chart. The stock
can be bought at every decline with a price target of Rs 2340 within the next 18 to 21 months.
Buy... Buy... Buy on Dips Hold Sell on High

NHPC 22.00 ITC 279.00 Bajaj Auto 2818.00 Bajaj Finserv 6022.00
RCF 52.00 Dabur 434.00 UPL 816.00 Nestle 10582.00
PNB Gilt 30.00 Dilip Buildcon 448.00 Bata India 1254.00 Dr. Reddy 2556.00
Navneet 104.00 Graphite India 429.00 Alembic 539.00 Indian Bank 206.00
Coffee Day 280.00 Torrent Pharma 1789.00 Shriram Trans. 1003.00
Frontier Spring 168.00
ONGC 135.00 Asian Paints 1395.00 Sun Pharma 423.00
Kridhan Infra 32.00
Kalpataru Power 346.00 L&T 1243.00 Auirobindo Pharma 722.00
J K Paper 125.00 Inox Leisure 260.00 Va-Tech Wabag 287.00 Glenmark Pharma 569.00
RPP INfra 95.00 H.G. Infra Engg. 183.00 Nalco 47.00
Reliance 1243.00
BGR Energy 50.00 Elgi Equipment 250.00 Oil India 172.00 Cox & Kings 145.00
Prime Focus 52.00 J K Lakshmi 308.00 LUPIN 775.00 S. Chand 198.00
Financial Weekly

INVESTMENT
Technical News : 18-2-2019 to 22-2-2019

Manu Consultants : Manishkumar - Kolkata
SEBI REG:- RESEARCH ANALYST- INH300002449
NIFTY FUTURE
NIFTY FUT SUPPORT AT 10660-10550AND RESISITANCE10840-900
STRATEGY:-BUY BANK NIFTY ON DIPS TILL 26500 SL 26300 TA 27200-27600
STOCKSF&O:-
INDIA CEMENT :- BUY INDIA CEMENT ON DIPS TILL 82 SL 77 TA 88-92
ADANI POWER :- BUY ADANI POWER ON DIPS TILL 38SL 36TA 42-46
STAR :- BUY STAR ON DIPS TILL 390 SL 384 TA 420-34
KTK BANK :- BUY KTK ON DIPS TILL 107 SL 104TA 118-24
ALL SL ARE CLOSING BASIS
SELL STOCKS
SELL TCS ON RISE TILL 2070 SL 2100 TA 2000-1965
SELL DR. REDDY ON RISE TILL 2650 SL2740 TA2400-2300
DELIVERY STOCKS
BUY BALLRAMPUR CHINI SL 100 TA 140-75
DISCLAIMER :-The Recommendations are based on technical analysis. There is a risk of loss
in trading.Please visit website www.dallalstreet.org for full disclaimer and disclosures.
Financial Weekly

INVESTMENT
Terrific Shots - Dilip K. Shah
PI Industries (Rs. 892.00) (Code: 523642) :- Shares of this agro-chemicals com-

pany touched a high of Rs. 930 and low of Rs. 691 in the last 52 weeks. Promoters hold 51.38%
stake. The company has three plants in Jammu and Gujarat. The company is expected to benefit
from the government’s focus on rural development and farm sector. For the December quarter, PI
Industries reported 31.5% rise in income from Rs. 538 crores to Rs. 707.50 crores, while profit went
up 33% from Rs. 80.65 crores to Rs. 107.30 crores. EBIDTA was up by over 25% to Rs. 163.80
crores. There has been a sharp rise in the share after the strong numbers. Motilal Oswal has given
a ‘Buy’ rating on the stock with a target price of Rs. 1,023.
Insecticides India (Rs. 610.00) (Code: 532851) :- With one more budget focusing
on the agriculture sector, agro-chemicals companies are expected to continue doing well. Shares
of Insecticides India touched a 52-week high price of Rs. 825 and low of Rs. 370. Its market cap is
Rs. 1,262 crores. Promoter holding is 68.75%, mutual funds hold 7.74%, while DIIs hold 5.26%
stake. For December quarter, the company’s income went up from Rs. 176 cores to Rs. 216 crores,
while profit shot up from Rs. 9.64 crores to Rs. 16.89 crores. EPS for the quarter was Rs. 8.17. For
the first nine months of the year, EPS was Rs. 45.41. The stock has corrected sharply from the 52-
week high price, and can be considered for investment.
Greaves Cotton (Rs. 118.00) (Code: 501455) :- Greaves Cotton is a multi-product,
multi-location leading engineering company. It is a manufacturer of petrol-diesel engines, gensets
and construction equipment. It has strong presence in India, and also in South-East Asia, East
Africa, and Middle East. It has six manufacturing plants in India, and makes one machine every
minute. Its major clients include Mahindra, TVS, Tata, Atul, Piaggio, etc. For December quarter, its
income went up from Rs. 447 crores to Rs. 506 crores. However, profit declined from Rs. 55.61
crores to Rs. 42.71 crores. EPS for the quarter was Rs. 1.75. The company has high institutional
investment. Mutual funds hold 4.98%, insurance companies 8.64%, and FIIs 12.99%. The stock
can be considered as a good investment bet.
International Paper APPM (Rs. 437.00) (Code: 502330) :- Shares of this paper
and paper products company are listed in the B Group. The shares touched a 52-week high of Rs.
591 and low of Rs. 285. The company’s name changed from Andhra Pradesh Paper Mills after its
takeover by America’s International Paper. Promoters hold 75% stake in the company. Domestic
paper companies are benefiting from lower production in China. Its equity is Rs. 39.77 crores, net-
worth Rs. 564 crores, and debt of Rs. 180.80 crores. For FY 2017-18, it reported income of Rs.
1,280 crores and profit of Rs. 83.07 crores. For December quarter, income was Rs. 376 crores,
profit Rs. 57.87 crores, and EPS Rs. 14.55. The stock is attractively priced at current levels.
Disclosures as per SECURITIES AND EXCCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014 ; • I and / or
my clients may have investment in this stocks • I/My family have no financial interest or beneficial interest of more than 1% in the
company whose stocks I am recommending • Stop loss is useful for Short / Medium Term investor Only • Smart Investment will not
be responsible / liable for any loss arising out of investment based on tis advices • Past performance may or may not be
substainedin future " (Dilip K. Shah) Research Analyst : SEBI Regn No. : INH000002152
Financial Weekly

INVESTMENT
Sarvesh Ashok Trivedi
Stock Wave (Mumbai) (Mob) 09820728124
www.chartsanketstock.com
The market is oversold; keep away from

new buying without definite signs
BSE Index (35808.95) :- It is moving downward from top of 37172.18. It shows oversold
position on daily basis, overbought to towards neutral on monthly basis and neutral on monthly
basis. On upward movement, beyond 36022 it may go up to 36085, 36120, 26200, 26290,36490
with important resisting level at 36521. On the downward movement, below 35710 it may go down
to 35600, 35510, 35480 with important resisting level at 35375.
Nifty Future (10750.00) :- It is moving downward from top of 11142.85. It shows oversold
position on daily basis, overbought to neutral on weekly basis and neutral on monthly basis. On
upward movement, beyond 10770 it may go up to 10820, 10870, 10905 with important resisting
level at 10955. On the downward movement, below 10700 it may go down to 10665, 10641 with
important resisting level at 10597.
Bank Nifty Future (26840.00) :- It shows downward movement from top of 27646.95. It
shows oversold position on daily basis, overbought to towards neutral on weekly basis and to-
wards overbought on monthly basis. On upward movement, beyond 26945 it may go up to 27090,
27140, 27225, 27300 with important resisting level at 27410. On the downward movement, below
26721 it may go down to 26650, 26590 with important resisting level at 26520.
Bharat Petroleum (327.85) :- It is moving downward from top of 376.50. It shows over-
sold position on daily and weekly basis, while neutral position on monthly basis. On upward move-
ment, beyond 334 it may witness resisting level at 341. On the downward movement, below 312 it
may go down to 307, 298, 290, 282 with support at 275.
GAIL (317.75) :- It shows downward movement from top of 387.22. It shows oversold posi-
tion on daily and weekly basis, while towards oversold position on monthly basis. On upward
movement, beyond 322 it may witness resisting level at 329. On the downward movement, below
306 it may go down to 292 and below support of 298 it may plunge further.
Hindalco (186.90) :- It shows downward movement from top of 259.75. It shows oversold
position on daily, weekly and monthly basis. On upward movement, resisting level could be at 201.
On the downward movement, below 182 it may go down to 170, 157 and 145.
Reliance (1244.45) :- It shows downward movement from top of 1321.20. It shows oversold
position on daily basis, overbought on weekly basis and neutral on monthly basis. On upward move-
ment, beyond 1245 it may go up to 1251, 1283 with resisting level at 1290. On the downward move-
ment, below 1218 it may go down to 1207 and 1191 and leave bearish outlook once it crosses 1251.
Sun Pharma (422.10) :- It shows slow improvement from bottom of 370.20. It shows neu-
tral position on daily basis, towards overbought on weekly basis and oversold on monthly basis.
On upward movement, beyond 442 it may go up to 458, 462 and 475. It may get support at 415.
Golden quote :-
Jealousy is the fear of comparison
Financial Weekly

INVESTMENT
Dilip Davda
e-mail Expert’s Eye
dilip_davda@rediffmail.com
A clean sweep negative week

The week began on a divergent opening for main bourses, but it marked red closing for all the
five sessions of the week and thus, this week turned a clean sweep negative week. While hammer-
ing in mid and small cap continued, pivotal too eased except certain heavy weights. Side market
eroded in a big way compared to index heavy weights. However, decline in index heavy weights
kept market in a sliding mode and thus after long we witnessed full negative week.
As can be seen from the table below, during the week, indices moved in the range of 10930.90
-10620.40 and 36588.41-35510.97 for NSE Nifty and BSE Sensex respectively.
For the week, we witnessed net weekly LOSS of - (219.20) points for NSE Nifty and - (737.53)
points for BSE Sensex.
Our markets opened with divergent trends on Monday, but as the day progressed; it ended in
red due to selling pressure in index heavyweights Investors worried over global uncertainties amid
lingering fears over US-China trade talks and global growth. While Nifty lost 54.80 points to close
at 10888.80, Sensex marked deficit of 151.45 points or 0.41% to settle at 36,395.03.
On Tuesday too we marked divergent opening, but as the day progressed, selling spree brought
market under pressure and continued to slide. While Nifty marked deficit of 57.40 points to end the
day at 10831.40, Sensex lost 241.41 points to close at 36153.62.
On Wednesday trades began on positive notes, but post noon, hammering came in and we
marked hat trick of negative closing. While Nifty lost 37.75 points to close at 10793.65, Sensex
posted deficit of 119.51 points to end the day at 36034.11.
Divergent opening was seen for Thursday trade in the morning. But post noon, slide continued
and finally we marked fourth session closing in red. Nifty marked deficit of 47...60 points to end the
Ex-Bonus
Bonus Meet Bonus Announcement
Indian Wood (1 : 1) Inflame Appl (1 for 2)
Ex-Split Bajaj Healthcare (19-2-19)
Sukhjit Starch (1 for 1)
Indian Wood (5 for 1)
Dividend Announcement
Allcargo Logi (75% + 100%), India Nippon (60%), ISGEC (50%), LKP Fin (30%), Modison Met-
als (100%), Rico Auto (40%), Suprajit Engg (70%), TCI Exp (60%), Amrutanjan (55%), Banco
Prod (250%), CARE (60%), CRISIL (1100%), Harita Seating (30%), MM Forge (25%), Natco
Pharma (175%), Nicco Parks (20%), Oil India (85%), Shivalik Bimetal (15%), TCI (50%), Vidhi Spl
(20%), Goldiam Intl (20%), Gulf Oil (225%), Mayur Uni (40%), Mishtann Foods (0.2%), Sandesh
(50%), Satia Ind (10%), Savera Ind (10%), Schaeffler (200% + 100%), Take Solu (30%), Triveni
Engg (70%), Advani Hotels (30%) AVT Natural (20%), GPT Infra (20%), Manaksia (150%),
Neelamalai Agro (100%), Nestle (250%), ONGC (105%), Page Ind (700% + 410%), Stovec Ind
(400% + 150%), Yash Chemex (3%) etc.
Financial Weekly

INVESTMENT
day at 10746.05, Sensex lost 157.89 points to close at 35876.22.
With squaring off of weekly trades, while we witnessed positive start for Friday, market tanked
from the high of the day but recovered from the low of the day to close in red, but with minor losses.
NSE Nifty lost 21.65 points to close at 10724.40 and BSE Sensex marked deficit of 67.27 points to
end the day at 35808.95. Thus both benchmarks closed at lower than 31st January 2019 closing.
During the week scrip turned ex-bonus included Indian Wood (1 for 1).
During the week scrip turned ex-split included Indian Wood (5 for 1).
During the week bonus announcements came in from Inflame Appl (1 for 2), Sukhjit Starch (1 for
1).
Dollar continued to moved on a firm note around Rs. 71.20 for the week, Crude Oil inched up to
64.6 $ a barrel during the week. Third quarter number season is now almost over so market will
have the election announcement at the center stage. Even most of economical data is out. So in
absence of any major negative factors, market may move in a narrow range.
Amidst such a scenario NSE Nifty and BSE Sensex may hover between 11300-10100 and
36600-34700 respectively for the ensuing week.
Bajaj Healthcare board meeting is scheduled on 19.02.19 to consider bonus issue.
DISCLAIMER : No financial information whatsoever published anywhere here should be con-

strued as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter
published here is purely for educational and information purposes only and under no circumstances
should be used for making investment decisions. Readers must consult a qualified financial advi-
sor prior to making any actual investment decisions, based on information published here. Any
reader taking decisions based on any information published here does so entirely at own risk.
Above information is based on the details available as on the date along with market perceptions.
Investors should bear in mind that any investments in stock markets are subject to unpredictable
market related risks. (THE AUTHOUR IS SEBI REGISTERED RESEARCH ANALYST)
Financial Weekly
Every Sunday Every Wednesday
English & Gujarati Edition Gujarati Edition

Financial Weekly

INVESTMENT
A. K. Asnani
(M) 9893512098
Smart Verc (Bhopal)
Author of Book
Way to Billionaire
Why more than 80% investors lose ?
Creating wealth from stocks is not a pure science; else all finance people would have been
Millionaires and Billionaires. It is a part Science and part controlling emotions. There are many
websites and techniques to help you take care of 'Science' part. But tackling the 'emotional' part is
a big challenge.
Thus it is very much essential for specially the retail investors to understand the broader view
about the economy cycle and investors' behavioral pattern.
To understand this concept we have created an analogy with a seasonal fruit bearing tree.
For clear insights various parts of the tree has been designated as:-
Financial Weekly

INVESTMENT
Main trunk Place for Large cap stocks. Less fruits but reasonably safe place
Branches Residence for Mid cap stocks. Good returns but risky place
Twigs Small cap stocks are found here. Pretty good returns but highly risky place.
Investors 'climb up' and 'descend' the tree as the season (read economic cycle) progresses.
Sine curve: Near to crossover (N) :- Steadily more and more investors join them as they too
could see the growing numbers of fruits and some previous investors even eating the fruits. Fruits
are visible and are still approachable from the main 'Trunk' of the tree, thus risk is low. The pace
keeps increasing and time comes when the speed is fastest. At this juncture about 30% to 40%
investors are on the tree.
Sine Curve: Between crossover and top (N & T) :- This trend keeps rising and even those
who never climbed the tree also start climbing. These investors do not want to be miss the chance.
The fruits on main trunk are depleting fast. Investors start approaching main branches, where there
is risk but the greed overtakes it.
Sine Curve: At Top (T) :- Those standing on the ground feel left behind. The guy standing
beside some time ago is also eating the fruits with hardly any efforts. Many of these first time inves-
tors never even thought of climbing the tree, also join the bandwagon. On reaching the trunk they
find no fruits, so approach towards branches where only some fruits are left. Being late in climbing
the tree they move towards Twigs (small and thin branches) and get hold of ample fruits. Others
sitting on trunk and main branches feel that these guys who joined late are enjoying the most.
Many of these investors too approach towards the twigs.
Twigs loaded with investors start getting bowed down.
Almost all investors invested. Hardly anyone is left.
Sine Curve: Between Top and crossover (T & N) :- Suddenly breeze starts blowing. Stage
comes when one of the twigs gets extra loaded so much that it breaks down even with a little
breeze and all investors on the twig fall down. Those on other twigs get cautioned. But they believe
their twig is pretty strong and sustainable.
Financial Weekly

INVESTMENT
Meanwhile, few more twigs get broke.
Sine Curve: Near to Crossover (N) :- Breeze soon takes the form of strong winds.
More twigs develop cracks and ultimately wreck. Many of those still sitting on the tree climbed
after lots of study about the fruits, strength and risks involved start losing confidence fast, though
they are sitting on strong branches. Instead of continuing, they decide to step down.
Those having 'no knowledge' as well as those with 'full of knowledge' about value creation are
the investors who start quitting.
Sine Curve: Between crossover and Bottom (N & B) :- Strong winds turn into a Storm.
Majority of left investors lose patience, as there are hardly any fruits left and time spent on the tree
does not seem to be worth to wait for next crop of fruits. They chose to step down.
Sine Curve: Bottom (B) :- Now few investors are left on the tree. Hardly anyone is climbing,
but few still descending. Thus one cycle is complete.
Sine curve: Between Bottom and Crossover (B & N)
Beginning of a new cycle; stage where a small set of smart investors start climbing the tree (read
investing) when they sense that fruits are likely to appear in the coming times.
Sine curve: Any location
About 10% to 20% investors are always sitting on the tree come what may.
All times are good to invest if investor has the eagle's eye.
Advice for investors:-
Investors can adopt strategy depending on individuals' risk-return profile. In my opinion:-
New investors - Should start with well-established Large Cap stocks. Avoid Mid and Small Caps
Investors with an experience of at least one crash - Mix of Large and Mid cap stocks.
Investors with an experience of at least two crashes - Mix of all stocks.
By A K Asnani
Author - Way To Billionaire
9893512098
smartasn@gmail.com
A K Asnani will not be responsible / liable for any loss arising out of ideas posted above.
The above technique may or may not work for all investors.
Financial Weekly

INVESTMENT
Scrip Watch - Dilip K. Shah
Page Industries (Rs. 22139.00) (Code : 532827) (F. V. : 10.00) : Page

Industries, the exclusive licensee of Jockey International Inc. (USA), has reported a 22.2 percent
on year growth in profit at Rs 101.9 crore, driven by revenue as well as operating income. Revenue
from operations during the quarter grew by 18.9 percent to Rs 738.3 crore compared to Rs 621
crore in same period last fiscal. At operating level, EBITDA increased 28.3 percent year-on-year to
Rs 165.2 crore and margin expanded to 22.4 percent against 20.7 percent in year-ago. Page In-
dustries announced special dividend of Rs 70 per share and interim dividend of Rs 41 per share.
The stock has corrected which makes it more attractive. Buy.
Oil India (Rs. 172.00) (Code : 533106) (F. V. : 10.00) : National oil and natural
gas exploration and production (E&P) company Oil India Ltd (OIL), the country's oldest hydrocar-
bon firm, on Tuesday reported a net profit for the third quarter of financial year 2018-19 of Rs
1233.45 crore. This is the highest quarterly profit since the listing of the company in September
2009 and 74.9 per cent higher compared to the profit after tax of Rs 705.22 crore during the corre-
sponding quarter of the last fiscal. Net profit for the first nine months of the current fiscal is Rs
2,798.68 crore, which is 55.36 per cent higher than the profit after tax of Rs 1,801.43 crore during
the corresponding period of 2017-18. The company's crude oil price realisation increased by $17.99/
bbl to $70.66 / bbl in the first nine months of 2018-19 compared to $52.67/BBL during the same
period of 2017-18. The crude price realisation in rupee terms has increased by 45.08 per cent to
Rs 4,927.83/ bbl in the first nine months of 2018-19 compared to Rs 3,396.69/ bbl during the same
period of financial year 2017-18. The company has also declared an interim dividend of Rs 8.50
per equity share for fiscal 2018-19. Buy.
Relaxo Footwears (Rs. 750.00) (Code : 530517) (F. V. : 1.00) : Relaxo
Footwears Limited, India's largest Footwear Manufacturing Company has reported better Q3 num-
bers. Its revenue was up 21% to Rs. 551 crore as compared to Rs. 457 crore. Growth has been
mainly driven by increase in volumes. Net profit was Rs. 36 crore as compared to Rs. 38 crore. Net
profit was lower on higher raw material cost stemming from USD peak in Q3FY19 and an optically
higher Q3FY18 on account of GST input credit on transitional stocks. Its net profit for the nine
months ending December was up 12 per cent at Rs.121 crore and revenue ws up18 per cent at
Rs.1656 crore. EBITDA up by 12% to Rs. 229 crore as compared to Rs. 204 crore in the corre-
sponding period of the previous year. Buy this momentum stock.
Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may have investment in this
Financial Weekly

INVESTMENT
Market Tips - Dilip K. Shah
KSB Pumps (Rs. 660.00) (Code : 500249) (F. V. : 10.00) : KSB Pumps surged
after net profit jumped 38.5% to Rs 17.90 crore on 11.5% growth in net sales to Rs 188.16 crore in Q3
September 2013 over Q3 September 2012. KSB Pumps manufactures pumps and valves. The company
supplies its products to customers from industry and building services, OEMs, the energy industry, mining
and the public sector, power plants, process engineering etc. KSB's products are also used in chemical,
petrochemical and other industries to transport aggressive, corrosive, explosive, solids-laden and viscous
liquids, industrial and municipal waste water and in the areas of heating and air conditioning. The small-cap
company has equity capital of Rs 34.81 crore. Face value per share is Rs 10. Inveest.
Sun Pharma (Rs. 424.00) (Code : 524715) (F. V. : 1.00) : Most of the global
brokerage firms have maintained buy recommendation on Sun Pharma after India’s largest drugmaker said
its net profit jumped 286.1 percent to Rs 1,241.1 crore in the third quarter ended December 2018. Global
brokerage firms have a target price in the range of Rs 535-560 on Sun Pharma which translates into an
upside of 22-28 percent return in the next 12 months. Revenues from operations gained 17 percent to Rs
7,933.25 crore compared to a year ago's Rs 6,782.42 crore. The EBITDA margin of the company stood at
27.8 percent.CLSA which marinated its buy rating on Sun Pharma post Q3 results recommends a target
price of Rs 560. The response to novel psoriasis drug Ilumya has been good, and CEQUA launch has been
delayed a bit to Q1FY20, highlighted the CLSA report. Sun Pharma in the US has 441 ANDAs approved,
while filings for 564 ANDAs await US FDA nod, including 15 tentative approvals. For the quarter, 5 ANDAs
were filed and 10 approvals were received. Accumulate.
Jubilant LifeSciences (Rs. 727.00) (Code : 530019) (F. V. : 1.00) : Jubilant
Life Sciences has reported a 25.69 per cent rise in its consolidated net profit at Rs 267.52 crore for the
quarter ended December 31, 2018, mainly on account of robust sales in pharmaceuticals segment. The
company had posted a net profit of Rs 212.84 crore for the corresponding period of the previous fiscal. The
consolidated total revenue from operations of the company stood at Rs 2,377.10 crore for the quarter under
consideration as against Rs 2,067.76 crore for the same period a year ago. The continued record perfor-
mance in revenues and profits is driven by robust results in all key businesses in the pharmaceuticals
segment, especially in CDMO and US generic businesses. Pharmaceuticals revenue stood at Rs 1,418
crore, up 29 per cent year-on-year, contributing 60 per cent to the company's revenues. The stock is worth
accumulation.
Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may have investment in this
Financial Weekly

INVESTMENT
SMART TIPS Smita N. Zaveri
NCC (Rs. 84.00) (Code: 500294) :- Shares of this construction & engineering company
touched a 52-week high of Rs. 137 and low of Rs. 63. Promoter holding is 18.12%. NCC under-
takes projects related to housing, roads, electric, water, environment, irrigation, railway, power,
and other areas. The company bagged Rs. 25,000 crore orders in the current year to take the order
book to Rs. 33,000 crores. For December quarter, its consolidated sales jumped over 63% to Rs.
3,379 crores, and while profit declined 3% to Rs. 169 crores. It has equity of Rs. 120.13 crores, debt
Rs. 1,163 crores, and net-worth of Rs. 4,241 crores. The stock is trading at a PE multiple of 11 and
is attractively priced. CLSA has given a Buy rating on the stock and revised the target price from
Rs. 135 to Rs. 140.
JK Paper (Rs. 125.00) (Code: 532162) :- Shares of this paper and paper products
company are listed in B Group and have face value of Rs. 10. The shares touched a 52-week high
of Rs. 193 and low of Rs. 131. Promoter holding in the company is 48.42%. The company is a
market leader in copier paper segment with 23% share. Its share of coated paper market is 12%,
and 15% in packaging board segment. Its products are exported to US, UK, Sri Lanka, Singapore,
Malaysia, Middle East, etc. JK Paper has two plants with total capacity of 4.55 lakh tonnes per
annum. For December quarter, its sales rose 10% to Rs. 870 crores, whereas profit shot up by over
72% to Rs. 120.26 crores. The stock is trading near the 52-week bottom, but can be seen at Rs.
150-165 levels in the short to medium term.
Heidelberg Cement (Rs. 147.00) (Code: 500292) :- Shares of this cement and
cement products company are listed in A group and have face-value of Rs. 10. The shares touched
a high of Rs. 175 and low of Rs. 122. Promoter holding in the company is 69.39%. The company’s
equity is Rs. 226.62 crores, net-worth Rs. 1,046 crores, and debt of Rs. 469 crores. It reported
excellent numbers for December quarter. Strong volume growth, high realization, and strict cost
control measures buoyed its operational performance. Its net sales grew 15% to Rs. 564 crores,
whereas profit surged by over 84% to Rs. 58.56 crores. While its peers’ shares are trading at a PE
multiple of 30, shares of Heidelberg are quoting at 16 times the earnings, and are attractively priced.
JBM Auto (Rs. 244.00) (Code: 532605) :- Shares of this auto parts manufacturer are
listed in B Group. The shares touched a 52-week high of Rs. 508 and low of Rs. 230. Promoter
holding is 61.96%. Auto ancillary companies are benefiting from the strong performance of auto-
mobile sector. JBM Auto is also into manufacturing of electric buses. For the third quarter, it re-
ported consolidated income of Rs. 430 crores, which was 8.46% higher than last year. Net profit
rose 4.65% from Rs. 17.22 crores to Rs. 18.02 crores. EBIDTA jumped 10.79% to Rs. 55.63 crores.
Its equity is Rs. 20.40 crores, net-worth Rs. 211.55 crores, and debt Rs. 307 crores. Shares of JBM
Auto are trading at a PE multiple of just 11, as against its peers which are quoting at 31 times the
earnings.
SEBI Registered Research Analyst)

* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month • All stocks rates
/ indices on 15th February,2019 unless specified o Stoploos is useful for Short - Medium term investors only
* Disclaimer :- • Smart Investment will not be responsible / for any loss arising out of investment based on its recommendation.
• Though, every care has been taken, we will not responsible for any errors / omissions • All disputes are subject to Ahmedabad
jurisdiction
Financial Weekly

INVESTMENT
Smart super duper - Dilip K. Shah
Indian Hotels (136.00) (Code:500850) :- It is promoted by Tata Group. It owns more

than 100 hotels on 62 locations in India and 15 hotels in Maldives, Malaysia, UK, USA, Bhutan, Sri
Lanka, Africa and Middle East. The tourism sector is witnessing growth due to proper promotion by
the government of India. As against equity of Rs118.93 crore, the company has reserves of
Rs4062.17 crore. In the first nine months of FY2019, the company's income remained at Rs3267.68
crore, while it profit increased from Rs6.30 crore to Rs127.67 crore. The company paid 35% divi-
dend for 2017 and 40% dividend for 2018. . The company's bottom line is improving. It also plans
to expand its presence and add more rooms so it can be considered for investment.
Balrampur Chini (Rs.117.00) (Code:500038) (FV:1.00) :- This is number two
sugar manufacturing company of the country which also produces ethanol. It owns 10 sugar facto-
ries with crushing capacity of 76500 ton per day, distillery processing capacity of 360 kilo liter per
day and salable cogeneration capacity of 163.20 mega watt. As against equity of Rs22.84 crore,
the company has reserves of Rs1594.22 crore. In December quarter, the company's income de-
creased from Rs1001.91 crore to Rs940.91 crore, while profit increased from Rs61.42 crore to
Rs120.32 crore. Despite bad year of 2018, it paid dividend of 250% means Rs2.5 a share. The
government has increased sugar prices recently and it also holds aggressive approach towards
ethanol. The stock with strong fundamentals is good option for investment.
J&K Bank (Rs.39.00) (Code:532209) (FV:1.00) :- It is one of the leading public
sector banks having branches in many states of the country. As against equity of Rs55.7 crore, the
company has reserves of Rs6105 crore. The share's book value is Rs99.44 and currently the stock
is being traded at price to book value of just 0.38. In the December quarter, the company's profit
increased by 43.16% at Rs103.75 crore, while interest income increased by 18.87 crore at Rs2000.71
crore. In the first nine months of FY2019, the bank's profit increased by 43.48% at Rs250.09 crore
and interest income increased by 11.45% t Rs5605.65. The bank aims to clock profit of Rs2000
crore by 2022. The stock seems attractive at current price for investment in phased manner.
Capacite Infra (Rs.190.00) (Code:540710) :- Mumbai-based construction activity
company was incubated in 2012 and it came up to IPO at price of Rs250 a share in September
2017 to raise Rs400 crore. In December quarter, the company's income increased from Rs366.50
crore to Rs449.38 crore, while profit increased from Rs22.69 crore to Rs23.90 crore with EPS of
Rs3.52. The stock prices went up after listing. However, due to market correction and March quar-
ter results, the stock prices have come down. The company is focusing on the big cities and is
active in residential building, multilevel parking and corporate office and other projects. It has huge
orderbook on hand. The stock is good option for small investment.
Financial Weekly

INVESTMENT
Di wan-E-Khas A.J. Diwan (Mumbai)

E-mail : divanconsultancy@rediffmail.com
Possibility of war
Tribute ; it is our duty to say a few words for our soldiers who died on the Kashmir Border. We
pray almighty for their soul rest in peace.
The markets are not sustaining at the higher levels. Last week we have seen drop from top. The
market may find difficult to move up in the present circumstance. The tendency of sale on rise may
continue for some times.
Reliance : This company has given something in JIO at lower cost. as a results company was
forced to sale assets and pay debts. Share price which was near Rs.1300 fall to Rs.1215 level.
Now Rs.1265 is resistance level.
ADAG Shares: - After big sale of by finance companies for shares pledged, there are some
questions. The pledging of promoters shares was informed to stock exchanges. What are promot-
ers holding after this? Reliance capital has gone up from rs110 to rs.145 may be because of
that.r.com is under severe difficulty. Why share remained below Rs.6.
Bata India ; This company is doing well and investors should grab at decline Rs,1225 is sup-
port and upper side it has potential to go up to rs.1275/1290.
Adani port and Zee were hammered few days back. The reason was debts of company. It is
understood that both these companies are in good books of government so it may come out of
wood.
Voltas : The company performance is not expected to satisfy markets. We expect selling pres-
sure to continue. The s/l is rs.525 and target of Rs 500.
Hindalco : after the results share price nosedived to rs.185.we expect fall to continue .the s/l is
rs.192.
Tata Steel : Last week it touched rs.495 and no share is coming down. On Friday when all steel
shares were down, this also contributed. Rs.475 is resistance level.
Tech Mahindra is good buy on any fall. Range on Friday was 781 to 795.
Pharma shares declined on Friday and same trend may continue in days to come.
When we had such a big incidents on the border, our index recovered from lower level. No
doubght market breath was very bad, 1150 fall against 650 up.
Nifty has support at 10680 against closing of 10725.index support level is 35650.
PSU Banks and particular BOB look weak with s/l at Rs.103.50 Shares
Financial Weekly

INVESTMENT
Investment Ideas telegram.me/rupeegains7
NIFTY :- For next week NIFTY has strong support around 10620 levels. Break will take it to
10535 levels. On the upper side NIFTY will face strong hurdle at 10815 levels, cross over with
volume and close above will create short covering at take NIFTY up to 10910-10940 levels…
BANK NIFTY :- For next week BANK NIFTY has strong support around 26635 levels.
Break will take it to 26440-26400 levels. On the upper side BANK NIFTY will face strong hurdle at
27015 levels, cross over with volume and close above will create short covering at take BANK
NIFTY up to 27115-27280 levels…
INVESTMENT IDEAS…
A. B. Fashion & Retail (535755 & NSE) (217.45) (Face Value: Rs.10) :-
Aditya Birla Fashion and Retail Limited manufactures and distributes branded fashion apparel
and accessories in India. It operates through two segments, Madura Fashion & Lifestyle and Pan-
taloons. Company has posted superb numbers for & 9MFY19. During 9MFY19, its PAT soared
2365.28% to Rs.118.58crore from Rs.4.81crore in 9MFY18 on higher sales of Rs.6202.41crore. In
negative market sentiment stock is trading at yearly high price and looks strong on chart. Every-
one, whose financial advisor is allowing to trade in this stock for short term can watch with a stop
loss of Rs.210
Maharashtra Seamless (500265 & NSE) (459) (Face Value Rs.5) :- Incorpo-
rated in 1988, Maharashtra Seamless Limited is engaged in manufacturing steel pipes and tubes.
The Company operates through two segments: Steel Pipes & Tubes, and Power - Electricity. It
offers electric resistance welding (ERW) pipes, including mild steel (MS) and galvanized pipes
and American Petroleum Institute (API) line pipes; seamless pipes, such as hot finished pipes and
tubes, cold drawn tubes and boiler tubes; coated pipes, including three layer polyethylene coating,
fusion bonded epoxy coating, internal coating and three layer polypropylene, and pipe fittings. The
Company's manufacturing plant has a capacity to produce 550,000 tons per annum of carbon and
alloy steel hot finished and cold finished seamless pipes with size range from 10.3 millimeters
(mm) to 508.0 mm. Its electric resistance welding (ERW) pipes manufacturing plant has a capacity
to produce 200,000 tons of pipes. It has a 7 megawatt wind power and 11 MW of Solar power
generating plant in Maharashtra and a 25 megawatt solar power plant in Rajasthan. In aggregate
43 MW of renewal energy resource.
Financial Weekly

INVESTMENT
It has an equity base of just Rs.33.50crore that is supported by reserves of around
Rs.3078.23crore. The Promoters hold 61.78%, Mutual Funds hold 7.59% while the investing pub-
lic holds 27.46% stake in the company.
Company has reported robust numbers for 9MFY19. During Q3FY19, MSL posted 139.28%
higher PAT of Rs.92.77crore on 39.79% higher sales of Rs.785.88crore fetching an EPS of Rs.13.85.
During 9MFY19, its net profit soared 156.01% to Rs.281.61crore from Rs.110crore in 9MFY18
on 37.49% higher sales of Rs.2096.14crore fetching an EPS of Rs.42.03. 9MFY19 PAT was 33.64%
higher than PAT recorded for FY18.
At CMP stock is trading at PE ratio of 8x. It has paid 120% dividend for FY18.
Everyone, whose financial advisor is allowing to trade in this stock for medium to long term can
watch with a stop loss of Rs.425.
Disclosures: At the time of writing this article, author, his clients & dependent family members may have
positions in the stocks mentioned above. The author, his firm, his clients or any of his dependent family
members may make purchases or sale of the securities mentioned in website. Author may have positions in
above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer: Investing in any equity is risky. Our recommendations are based on reliable & authenticated
sources believed to be true & correct, and also is technical analysis based on & conceived from charts. Inves-
tors should take their own decisions. We assume no responsibility for any transactions undertaken by them.
The author won't be liable or responsible for any legal or financial losses made by anybody.
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Financial Weekly

INVESTMENT
MARKET TREND NIKHIL BHATT

(+919979380808)
WWW.INVESTMENTPOINT.IN
PERIOD : 18-2-2019 to 22-2-2019
Dear Traders…. For the Trading Period on 18.02.2019 TO 22.02.2019

NIFTY FO CLOSED @ 10750 AS ON 16.02.2019
NIFTY FO Range @ 10696 TO 10808 Point In Short Term…!!!
NIFTY FO has resistance at 10787 - 10808 Point; above which other resistance levels are at
10818 - 10830 Point with highly Volatile Trend, In Downside support levels are at 10717 - 10696
Point; below 10696 Point, other support levels are at 10630 - 10606 Point.
I am positive for next bullish trend only above @ 10808 Point 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 FO crosses
@ 10808 Point, again then the upper side target is quite high and it may touch @ 10830 Point in
short term...!!!
BANK NIFTY FO CLOSED @ 26840 AS ON 16.02.2019
BANK NIFTY FO Range @ 26606 TO 27027 Point In Short Term…!!!
BANK NIFTY FO has resistance at 26909 - 26939 Point; above which other resistance levels
are at 26979 - 27027 Point with highly Volatile Trend, In Downside support levels are at 26770 -
26707 Point; below 26707 Point, other support levels are at 26636 - 26606 Point.
I am positive for next bullish trend only above @ 27027 Point 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 BANK NIFTY FO
crosses @ 27027 Point, again then the upper side target is quite high and it may touch @ 27170
Point in short term...!!
Golden Stocks For Trading For the date - 18.02.2019 to 22.02.2019
1. MARUTI (6944) : It is suggested to Buy @ Rs 6808 with SL of Rs 6790 for the target of Rs
7007 - 7037; below Rs 6790 it can fall up to RS 6760 - 6730 levels. If it crosses Rs 7037 level than
expect nonstop rally up to Rs 7077....!!
2. LARSEN LTD (1242) : Trading point of view Buy @ Rs 1217 With SL of Rs 1210 for the
target of Rs 1257 - 1270 level below Rs 1207 It can show further downfall up to Rs 1202…..!!!
3. ESCORTS LTD (640) : Buy @ Rs 626 levels considering minor support of Rs 620 and
stop loss of Rs 616 for an upper target of Rs 656 - 660 levels. Below Rs 616 it can slip up to RS 613
- 606 levels…!!!
4. GLENMARK PHARMA (571) : Buy @ Rs 557 levels considering minor support of Rs
552 and stop loss of Rs 547 for an upper target of Rs 583 - 590 levels. Below Rs 547 it can slip up
to RS 544 - 540 levels…!!!
5. KAJARIA CERAMICS (512) : Buy @ Rs 496 levels considering minor support of Rs
Cont.....
Financial Weekly

INVESTMENT
493 and stop loss of Rs 490 for an upper target of Rs 523 - 530 levels. Below Rs 490 it can slip up
to RS 488 - 483 levels…!!!
6. RAMA STEEL (88) : Delivery base Buy @ Rs 83 of this stock near @ Rs 80 with SL of
Rs 76 for the target of Rs 94 - 100 level. It is very good for medium term position also…!!!
7. OMAX AUTO (80) : This stock is looking very good to Buy @ Rs 74 with SL of Rs 72 for
the target of Rs 86 - 90 Levels below Rs 72 is stock shall witness free fall…!!!
8. HDFC BANK (2104) : It is suggested to Sell with SL Rs 2147 for the target of Rs 2088
- 2080 below @ Rs 2080 it can slip up to Rs 2073 - 2067 level. Above Rs 2147 level will take the
stock to Rs 2160 - 2173…!!!
9. ASIAN PAINT (1405) : It is suggested to Sell @ Rs 1437 with SL of Rs 1444 for the
target of Rs 1388 - 1377 ; below Rs 1377 it can fall up to RS 1370 - 1366 levels. If it crosses Rs
1444 level than expect nonstop rally up to Rs 1450....!!
10. TECHM (805) : It is suggested to Sell with SL Rs 828 for the target of Rs 793 - 787
below @ Rs 787 it can slip up to Rs 783 - 780 level. Above Rs 828 level will take the stock to Rs
833 - 840..!!!
11. AURO PHARMA (725) : It is suggested to Sell @ Rs 733 with SL of Rs 740 for the
target of Rs 696 - 690 below Rs 690 it can fall up to RS 686 - 680 levels. If it crosses Rs 740 level
than expect nonstop rally up to Rs 747....!!
Note: - Before Act Please refer Terms & conditions, Disclaimer on www.nikhilbhatt.in
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Financial Weekly

INVESTMENT
Primary Market - Dilip K. Shah
Market sentiments are ruined in the already bearish market for last one week
Companies, promoters and merchant bankers who are gearing up for IPO on mainboard get one more jolt
Amid uncertain market conditions SME IPOs and NCDs issues kept the market going
This week total Four SME IPOs : three from BSE and one from NSE are in the market
Gleam Fabmat BSE SME IPO will open on February 19
Aartech Solonic's BSE SME IPO with fixed price of Rs34 will open on February 21
Muthoot Fin's NCDs issue enters the market once again: Gets good response from the beginning
Bharat-22 ETF's issue of Rs3500 crore that opened on February 12 get more than 10 times subscription
Mindpools' IPO gets good response, while Krant Ind gets average response
Anmol (I) and Jon Juna BSE SME IPO gets subscribed on the last day with difficulties
Manappuram Fin's NCDs issues get poor response, while IB Consumer gets average response
Neogen Chemicals' issue with fresh equity of Rs70 crore and OFS of 29 lakh shares get SEBI nod
Rel Gen Insurance files papers with SEBI for Rs2 billion IPO
The bearish trend in the secondary market had a very bad impact on the primary market.
Moreover, the terrorist attack in J&K that killed 44 CSPF jawans have shook the entire
nation. Now, due to possible war between India and Pakistan the Indian Share Markets may
remain highly volatile. Now the companies that were mulling to hit the market before Lok
Sabha elections in May 2019, may adopt wait and watch policy in current geo-political crisis.
However, the silver lining in the bad market condition is increasing number of SME IPOs.
* SME IPO Subscription : Last week two SME IPOs Anmol (I) and Jon Jua Overseas
were in the market which have closed and now Kranti Ind and Mindpool Technologies IPOs
are in the market.
Anmol India :- Anmol India's BSE SME IPO got 1.48 times subscription and closed on
February 14.
Jon Jua Overseas :- BSE SME IPO got 1.11 times subscription on the last day of 15
February. The issue subscription data suggests that it was managed on the last day.
* This week's SME Issues :- Mindpool Tech and Kranti Ind are in the market. Two more
issues that of Gleam Fabmat and Aartech Solonics will enter into the market. Details of all
these issues are given in the separate box.
Mindpool Technologies :- The issue that opened on Feb 14 will close on Feb 20. The
issue with fixed price of Rs30 has got 0.74 times subscription on Feb 16 as against target of
Rs3.66 crore.
Kranti Industries :- BSE SME IPO with fixed price of Rs37 got 0.24 times subscription on
Cont...
Financial Weekly

INVESTMENT
NSE SME IPO

Sr Company Issue Open Dt. Issue size Offer price Minimum Rating Remark
Issue Close Dt. (Rs. Cr.) (Rs.) Applications Size %
1. Mindpool 14-2-2019 12,00,000 Eq. 30 4000 Eq. Shares 36% : Apply
Technologies 20-2-2019 (Rs. 3.60 Cr.) (Rs. 1,20,000) Mid to Long Term
BSE SME IPO

Sr Company Issue Open Dt. Issue size Offer price Minimum Rating Remark
Issue Close Dt. (Rs. Cr.) (Rs.) Applications Size %
1. Kranti 14-2-2019 23,19,000 Eq. 37 3,000 Eq. Shares 35% :
Apply for long term
Industries 20-2-2019 (Rs. 8.58 Cr.) (Rs. 1,11,000)
2. Gleam 19-2-2019 31,20,000 Eq. 10 10,000 Eq. Shares 31%
RISKY
Fabmat 22-2-2019 (Rs. 3.12 Cr.) (Rs. 1,00,000)
3. Aartech 21-2-2019 21,20,000 Eq. 34 4,000 Eq. Shares 28%
Solonics 26-2-2019 (Rs. 7.21 Cr.) (Rs. 1,36,000) AVOID
Subscription Figures of SME IPO (Dt. 21-9-2018)

IPO Listing Day Subscribed
Anmol India BSE SME Issue Closed on 14-2-2019 1.48x
Jon Jua Overseas Ltd. BSE SME Issue Closed on 15-2-2019 1.11x
Kranti Industries BSE SME 2nd Day Subscribed 0.24x
Mindpool Techno NSE SME 2nd Day Subscribed 0.74x
the second day. It will close on Feb 20.

Gleam Fabmat :- The issue of Rs3.12 crore which includes offering 31.20 lakh shares at
price of Rs10 a share will open on February 19 and close on February 22. The issue size is
Rs3.12 crore only.
Aartech Solonic :- The issue of Rs7.21 crore with fixed price of Rs34 a share will open on
February 21. The issue is not worth subscribing.
* NCDs issues :- Currently three NCDs issues: Manappuram Fin, IB Consumer Fin and
Muthoot Fin are in the market.
Manappuram Fin. :- The issue with base price of Rs150 crore and shelf limit of Rs100
crore has got 0.51 times subscription till February 15. Due to the poor response from the
investors it is not likely that the company could achieve that target of raising Rs1000 crore
fund by February 27.
IB Consumer Fin. :- The issue with base price of Rs250 crore and shelf limit of Rs3000
crore has got 1.98 times subscription till February 15. It has got only Rs300 crore and needs
to be subscribed by 12 times to achieve that target. It will close on March 4.
Muthoot Fin. :- South India based company has hit the market with NCDs issues number
of times. The issue with base price of Rs100 crore and shelf limit of Rs750 crore has opened
on February 14. It has got 2.95 times subscription till February 15, which can be considered
as good response. ICRA and CRISIL has given AA/Stable rating to the issue. It may close
ahead of scheduled closing date of March 14.
Financial Weekly

INVESTMENT
Non Convertible Debenture (NCD) Issues at a Glance

Sr Company Issue Open Bond size F.Value Min. Listing Rating Recomm.
Issue Close (Rs. Cr.) (Rs.) App.
1. Manappuram 28-1-19 Base Size of Rs. 150 Cr. 1,000/- 10 NCDs BSE AA/Stable by CARE
Finance 27-2-19 with an optionto retain (Rs.10,000) &
Finance Shelf Limit Rs. 1000 Cr. Lead manager : AA+/Stable by BWR
A.K. Capital Services
AVOID
Edelweiss Fin. Services
2. Indiabulls 4-2-2019 Base Size of Rs. 250 Cr. 1,000/- 10 NCDs BSE AA+/Stable by CRISIL
Consumer 4-3-2019 with an optionto retain (Rs.10,000) NSE &
Finance Shelf Limit Rs. 2750 Cr. Lead manager : AA+ Outlook Stable APPLY
(Aggregating up to Edelweiss, A.K. Capital, by BWR
Rs. 3000 Cr.) Axis Bank, Trust Inv. Adv.
3. Muthoot 14-2-2019 Base Size of Rs. 100 Cr. 1,000/- 10 NCDs BSE AA (Stable) by ICRA
Finance 14-3-2019 with an optionto retain (Rs.10,000) & Apply
Shelf Limit Rs. 650 Cr. Lead manager : AA/Stable by CRISIL for
(Aggregating up to Edelweiss, A.K. Capital Minimum
Rs. 750 Cr.) period
Subscription figure of
* PSU Disinvestment :- The government set the target of Manappuram Finance NCDs
raising Rs80,000 crore but it could raise only Rs36,000 crore Category No. of BOnd Issue
Offered/ Subscribed
till now.
Reserved 15-2-2019
Bharat-22 ETF :- The issue with base price of Rs3500 Cat. I (Inst.) 1,50,000 0.00x
Cat. II (Non Inst.) 1,50,000 0.04x
crore but it has got Rs43000 crore fund till February 14. The Cat. III (HNI) 4,50,000 0.19x
government had raised Rs14500 crore in November and Cat. IV (Retail) 7,50,000 0.89x
Total (Base Issue) 15,00,000 0.51
Rs8400 crore in June 2018 through ETF. The government
Subscription figure of
could retain total Rs13000 crore including base price of Rs3500 Indiabulls Consumer NCDs
crore and additional retaining amount of Rs9500 crore. Thus Category No. of BOnd Issue
the disinvestment figure in the current financial year will touch Offered/ Subscribed
Reserved 15-2-2019
Rs49000 crore. Cat. I (Inst.) 5,00,000 6.00x
* Insight into upcoming public issues:- Cat. II (Non Inst.) 5,00,000 1.04x
Cat. III (HNI) 7,50,000 0.22x
Neogen Chemical :- The specialty chemical producing Cat. IV (Retail) 7,50,000 1.67x
Total (Base Issue) 25,00,000 1.98x
company has got approval for infusing fresh equity of Rs29
crore and OFS of 29 lakh shares. The company aims to use Subscription figure of
the amount to decrease debt and fulfill working capital re- Muthoot Finance Ltd. NCDs
quirements. Category No. of BOnd Issue

Offered/ Subscribed
Reliance General Insurance :- ADAGB is planning to raise Reserved 15-2-2019
Cat. I (Inst.) 2,00,000 0.00x
Rs2 billion (28.18 millin dollar) from the market. It has filed Cat. II (Non Inst.) 2,00,000 0.06x
DRHP with SEBI. Reliance Capital will sell its 79.5 million Cat. III (HNI) 3,00,000 1.52x
Cat. IV (Retail) 3,00,000 8.25x
shares under OFS. Total (Base Issue) 10,00,000 2.95x
Financial Weekly

INVESTMENT
BNP PARIBAS DYNAMIC EQUITY FUND OPENS

FOR SUBSCRIPTIONS ON 14th FEBRUARY
BNP Paribas Asset Management India Pvt Ltd, the Indian arm of BNP Paribas Asset
Management today announced the New Fund Offer (NFO) of BNP Paribas Dynamic Equity
Fund. This is an open-ended Dynamic Asset Allocation fund that aims to provide capital
appreciation by dynamically managing the portfolio of equity and equity related instru-
ments (including arbitrage exposure), and fixed income instruments. The NFO is available
for subscription from 14th to 28th February 2019.
The scheme intends to take a call on the equity allocation based on the trailing monthly
median Price-Earnings (PE) ratio of the Nifty 50 Index^. The endeavour of the Scheme will
be to increase exposure of equities at lower PE level (when the market appears cheaper).
Conversely when the market becomes expensive (higher PE) the Scheme will reduce its
allocation to equities and move assets into cash future arbitrage/equity derivatives, debt
and/or money market instruments.
“While markets have been resilient over the past 4 years, we believe that some events
in the first half of CY2019 will play a role in increasing market volatility. An asset allocation
strategy can help reduce volatility in such a market environment as it aims to manage the
fund’s exposure to equities in response to the changing market conditions.” explained
Anand Shah, Deputy Chief Executive Officer and Head of Investments, BNP Paribas As-
set Management India Pvt Ltd.
This is the sixteenth fund by BNP Paribas Asset Management India Pvt Ltd since its
foray into the Indian market, further strengthening the company’s asset management offer-
ings, which also include Offshore Advisory & Discretionary Portfolio Management ser-
vices.
BNP Paribas Dynamic Equity Fund will re-open for ongoing subscriptions within five
business days from the date of allotment.
Financial Weekly

INVESTMENT
Kranti Industries BSE - SME IPO

Opened on 14th February & Closes on 20th February
Price Band fixed Rs. 37; Listing on BSE - SME Platform
Considering turnaround performance, diversified portfolio and
Reasonable valuations, investor may apply for long term
Incorporated in 1995, Pune based Kranti Industries Limited is a company engaged in the business
of manufacturing and supplying of precision machined components. The company is primarily known
for a range of automotive component and non-automotive (off highway) components. The company
manufactures different types of automotive components varying from 100 MM to 1200 MM in size. It
also manufactures customized fast track finsec. Pvt. Ltd. products for reputed Original Equipment
Manufacturers (OEMs) of diverse industries such as (/default.asp) passenger cars, electric cars, two-
wheelers, light vehicles, tractors, construction machinery, offhighway, heavy trucks and railways etc.
Over the years Kranti Industries has diversified its product portfolio. It currently caters to various sec-
tors by developing components for automobile, commercial vehicle, construction, pneumatic tool, wind-
mill, medical industry, etc.
The company has two manufacturing facilities located at Pune, Maharashtra. The current Order
Book of the company, as on November 30, 2018, is approximately 660.34 Lacs. The company has 155
employees (including temporary workers) on its payroll.
Issue Details
• Issue Opens on 14th February & Closes on 20th February 2019
• Object of the issue : Working Capital Requirment
• Issue Size : 23,19,000 Equity Shares (Fresh Equity : 17,52,000 Eq. + OFS : 5,67,000)
• Face Value Rs. 10, Total Rs. 8.58 Cr.
• Offer price Fixed at Rs. 37 Per Shares
• Minimum Lot Size : 3000 Shares, Listing BSE - SME
• BRLM : Fast Track Finsec Pvt. Ltd.
• Registrar : Link Intime India Pvt. Ltd.
• Company management : Mrs. Indubala Subhash Vora, Mr. Sachin S. Vora, Mr. Sumit S. Vora
Particulars (Rs. Cr.) FY 16 FY17 FY 18 FY19 6M
Financial Total Revenue 28.84 29.25 46.11 33.22
Performance Profit After Tax -0.21 -0.93 0.90 1.37
EPS -0.30 -1.32 1.28 --
RONW (%) -1.61 -7.65 6.91 --
• Pre - Issue Promoter Holding 68.18% • Post Issue Holding 54.61%
• Average of last 3 yrs. EPS Rs. 0.15 & RONW 0.63
• Pre IPO Eq. capital Rs. 7.05 Cr. Post IPO Equity Capital Rs. 8.80 Cr.
• Pre Issue P/BV Ratio : 1.81 (NAV : 20.43)
• Pre IPO P/E Ratio : 27.05
• Post IPO asking PE on fully diluted Equity : 12
• Industry Peer Group PE Ratio : 27
Other side of IPO
" Average of acquisition of equity shares by the promoter is Rs. 1.73 to 2.55 & offer price Rs. 37
" It has issued bonus shares in the ratio of 1:1 on 30th Sept. 2008, 1:1 on March 2011 and 1:2 on 6th
Sept. 2015
" It does not have any long term contract.
" Top-10 customers accounted for 95% of total revenue
" Company have incurred losses for the fiscal 2016 and 2017
" Its subsidiary WPPL has incurred losses in the previous year.
" It has to far competition from large services
" Trademark - logo is not registered
Recommendation : it has incurred losses in FY 16 & FY 17 but it had earned operation profit & re-
ported Positive EBITDA also revenue increased YoY. Considering diversified product portfolio, P/BV of
1.81 & asking PE of 11.8, investors may apply for long term.
Financial Weekly

INVESTMENT
Mindpool Technologies NSE SME IPO

Opened on 14th February & Closes on 20th February
Price Band fixed Rs. 30; Listing on NSE - SME Platform
Despite decline in Top line of FY 18 & H1 of FY19
and loss in FY16, Valuation seems reasonable
One can apply for mid to long term in this issue.
Incorporated in 2011, Mindpool Technologies Limited is a Pune based company engaged in
the business of providing Oracle Consultancy Services, IT staffing and solutions, and Corporate
Training Services. The company offers these services across industries including automotive
and engineering, banking and financial services, healthcare, retail, telecom, and Entertainment
in India and US. As of March 31, 2018, we served 22 clients and have 103 employees.
Issue Details
• Issue Opens on 14th February & Closes on 20th February 2019
• Object of the issue : Working Capital requirment, Repayments of Bank Borrowing.
• Issue Size : 12,00,000 Equity Shares
• Minimum Lot Size : 4000 Shares, Listing : NSE - SME
• BRLM : Hem Sec. Ltd.
• Registrar : Bigshare Services Ltd.
• Company management : Ritesh R. Sharma, Poonam R. Sharma
Particulars (Rs. Cr.) FY 16 FY17 FY 18 FY19 6M
Financial Total Revenue 20.78 25.38 20.43 10.81
Performance Profit After Tax -0.33 1.29 1.63 1.46
EPS -1.11 4.29 5.42 --
RONW (%) -4.55 14.99 15.87 --
• Pre - Issue Promoter Holding 99.10% • Post Issue Holding 71.27 %
• Issue Constitutes 28.32% of the post issue paid up capital.
• Average of last 3 yrs. EPS Rs. 3.96 & RONW 12.17%
• Industry Peer Group PE Ratio : NIL
• BRML’s performance : Total 41 issues Handaled in Last 4 Years. In Last 10 Listing, 8 Issues in pre-
mium & 2 in discount.
Other side of IPO
" Average cost of acquisition of equity shares by the promoter is only Rs. 0.03 (3 Paisa) & Offer price
is Rs. 30
" It has issued bonus shares in the ratio of 300:1 on 18th March 2018 before filling DRHP
" Significant portion of revenue from one of their key clients.
" Net cash flow from operating activities has been negative in the past.
" Decline in revenue for FY 2016-17
" Its partnership with oracle partner expiring on March 14, 2019
" Company & subsidiary has incurred losses in the past.
" Its high competitive industry.
Recommendation : Despite loss in FY 16 and stagnancy in top line of FY 18 & first half of FY 19,
asking PE of 4.9 & P/BV 0.82, its reasonable priced. One can apply for mid to long term.
Financial Weekly

INVESTMENT
Gleam Fabmat BSE SME IPO

Opened on 19th February & Closes on 22nd February
It’s working performance is just for 4 months
despite at par offer, it’s fully priced & Risky bet
Incorporated in 2018, Delhi based Gleam Fabmat Limited is a company engaged in the trading of a wide
range of aluminium products such as Aluminium Sheets, Aluminium Coils, Rivets and textiles products.
The Company plans to leverage its promoter networks in the trading community to grow its business. It
has expanded its verticals by venturing into Fabric segment. It is also developing a strong team to meet its
proposed operational needs.
Issue Details
• Issue Opens on 19th February & Closes on 22nd February 2019
• Object of the issue : Working Capital requirment
• Minimum Lot Size : 10,000 Financial Per- Particulars (Rs. Cr.) FY19 4 M.
Shares, Listing : BSE - SME June to Sept. 18
• BRLM : Aryaman Fin. Ser. Ltd. formance
• Registrar : Bigshare Services Total Revenue 10.22
Ltd. Profit after Tax 0.21
• Company management :
Anilkumar Gupta, Amit Gupta,
EPS (Rs) 11.43
Arun Gupta. RONW (%) 14.01
• Pre - Issue Promoter Holding 100%

• Post Issue Holding 68.86%
• Average of last 3 yrs. EPS Rs. 11.43 & RONW 14.01%
• Post Issue P/BV Ratio : 9.80 (NAV : 10.20)
• BRML’s performance : Total 43 issues Handaled in Last 4 Years. In Last 10 Listing. 9 Issues in pre-
mium & 1 Issue at par.
Other side of IPO
" Average cost of acquisition of equity shares by their promoter is Rs. 10 & offer price Rs. 10
" It has shown financial performance of just 4 Months i.e. from June to Sept. 2018
" It has limited operational history.
" Company does not own registered office.
" Its operation is limited up to Delhi region only.
" Negative cash flow.
" Dependent on few clients.
" It has not applied for registration of name and logo.
" Product verticals are extremely competitive.
Recommendation :- Its financial performance is just for 4 months. Considering P/E of 17 and P/BV of
9.80, IPO is fully priced despite at par offer. IPO is risky despite at par offer.
Financial Weekly

INVESTMENT
Aartech Solonics BSE SME IPO

Opened on 21st February & Closes on 26th February
Sudden jump in FY 18 & H1FY19 is survyving & doubtful
Considering high valuations, investors may avoid this IPO
Incorporated in 1982, Gwalior, Madhya Pradesh based Aartech Solonics Limited is a system solution oriented R&D
enterprise in the field of specialized and selected energy appliances. It is involved in the manufacturing of electricity
distribution & control apparatus [electrical apparatus for switching or protecting electrical circuits (e.g. switches,
fuses, voltage limiters, surge suppressors, junction boxes etc.) for a voltage exceeding 1000 volts; similar apparatus
(including relays, sockets etc.) for a voltage not exceeding 1000 volts; boards, panels, consoles, cabinets and other
bases equipped with two or more of the above apparatus for electricity control or distribution of electricity including
power capacitors. Some of the company's popular products and services include- The company has 55 full-time
employees excluding 10 contract employees.
Issue Details
• Issue Opens on 21th February & Closes on 26nd February 2019
• Object of the issue : Investment Wholly owned Subsidiary Co., General Corporate Expanses, Working Capital
Requirment
• Minimum Lot Size : 4,000 Shares, Listing : BSE - SME
• BRLM : Swastika Investment Ltd.
• Registrar : Bigshare Services Ltd.
• Company management : Anil Anant Raje and Chhaya Raje
Particulars (Rs. Cr.) FY 16 FY17 FY 18 FY19 4 M.
Financial For 1st Half
Performance Total Revenue 10.26 13.42 12.09 4.17
Profit After Tax 0.23 0.30 1.18 0.60
EPS 0.46 0.61 2.38 --
RONW (%) 1.39 1.79 5.45 --
• Pre - Issue Promoter Holding 74.85%
• Post Issue Holding 52.38%
• Average of last 3 yrs. EPS Rs. 1.47 (Standalon) RONW 4.11%
• Average of last 3 yrs. EPS Rs. 0.74 (Consolidated) RONW 2.16%
• Post Issue P/BV Ratio : 9.60 (NAV : 35.41)
• Industry Peer Group PE Ratio : 12.5
• BRML’s performance : Total 18 issues Handaled in Last 3 Years. In Last 10 Listing. 8 Issues in pre-
mium & 2 Issues at Discount
Other side of IPO
" Average cost of aquistion of equity shares by promoter is only Rs. 1.07 & Offer price is Rs. 34
" It has issued bonus in the ratio of 6:1 in july 2009 and 3:1 for sept. 2010
" Company do not own registered office & manufacture unit.
" Associated & group company have incurred losses in past.
" Market size of B2B business is small.
" Sharp completion from domestic and foreign players.
Recommendation : sudden jump in bottom line for FY 18 and H1FY 19 is doubtful considering P/Bv
of 9.60 and PE of 20 IPO is overpriced. Investor may avoid this costly IPO.
Financial Weekly

INVESTMENT
Smart Best Buy S. N. Zaveri
SRF India : Specialty chemicals busines shows revival

M&M : New launches in UV will benefit
Titan : Profit up 42 per cent on strong Jewellery sales
Bata India : Profit jumps 51 per cent with strong margin
Tech Mahindra : Strrong profit, Huge orders
SRF India (Rs. 2189.00) (Code : 503806) (F. V. : 10.00) : SRF India has reported
strong Q3 numbers. The company posted growth of 26 per cent year-on-year (YoY) in consolidated net
profit at Rs 166 crore in Q3FY19 on back of higher revenue. The operational revenue grew 41 per cent to
Rs 1,964 crore from Rs 1,397 crore in the corresponding quarter of the previous year. EBITDA (earnings
before interest, taxation, depreciation and ammortisation) margin expanded 30bp YoY to 16.9 per cent in
3QFY19.The management said in spite of inventory losses in the crude based businesses, the company
has performed reasonably well. The specialty chemicals business is now showing signs of a revival which
will be visible from the next quarter onwards. The fluorochemicals business continued to perform in line with
expectations mainly on account of additional sales of chloromethanes. Further, new opportunities have
emerged in the specialty chemicals business, which will result in better offtake. The stock is on strong
upmove. Buy.
M & M (Rs. 626.00) (Code : 500520) (F. V. : 5.00) : Mahindra is gradually able to
arrest the fall in the UV market share after 10 quarters. The Marazzo MPV volume has averaged around
3,300 per month, and the new SUV XUV 300 received more than 3,000 bookings ahead of the formal launch
on February 14. Three UVs—Marazzo, Alturas, XUV 300--launched in the current fiscal should support
volume growth in FY20. The Street expects a 20 per cent growth in the UV segment because of the full-year
impact of the three newly launched vehicles and pre-buying ahead of the imposition of the new emission
norms. M&M is trading at nine times its core auto earnings, a 43 per cent discount to the average for leading
auto companies. On an absolute basis, the stock is trading one standard deviation below its mean. About
Rs 320-350 per share of its fair value is derived from investments in companies such as Tech MahindraNSE
-0.47 %, Mahindra CIE, Mahindra Holidays and Mahindra Logistics, while the remaining comes from core
auto manufacturing operations. Accumulate for longer term perspective.
Titan Company (Rs. 1045.00) (Code : 500114) (F. V. : 1.00) : Shares of Titan
Company gained last week hitting a new high on the BSE in early morning trade after the company reported
strong growth of 41.6 per cent in net profit of Rs 416 crore in December quarter (Q3FY19). The company
had a profit of Rs 308 crore in the year-ago quarter. Titan’s sales income during the same period grew by 35
per cent at Rs 5,632 crore against Rs 4,174 crore in the corresponding quarter of previous fiscal. Titan’s
jewellery business reported a robust 37 per cent sales growth mainly led by grammage growth of 20 per
cent. Jewellery segment EBIT (earnings before interest and tax) margin was higher at 13.3 per cent. Man-
agement continues to maintain a 15 per cent EBIT margin target for the division. Buy.
Bata India (Rs.1252.00) (Code : 500043) (F. V. : 5.00) : Bata India rose over 3
percent to hit a fresh 52-week high of Rs 1,235 on the NSE on February 13 after the company registered a
strong performance in the December quarter with revenues growing 15.5 percent and operating profit mar-
gin (OPM) improving 450 bps. The strong operational performance pushed the net profit higher by 51.3
percent year-on-year (YoY) to Rs 103.2 crore, ahead of analysts’ expectation of Rs. 84.1 crore. Gross
margins increased 350bps YoY at 58.6 percent, highest since past many quarters. Better product mix and
muted input cost have led to this strong gross margin expansion. The brand refreshed products in various
categories including the Power Walking Collection with Memory Foam, new styles in the fashionable Red
Label collection, contemporary marriage collection by Hush Puppies, which in turn gave a boost to festive
Cont...
Financial Weekly

INVESTMENT
season sales.The brand also launched Bubblegummer and Power stores in Bengaluru and Indore,
respectively.The stock is at 52-week high. Buy on decline.
Tech Mahindra (Rs. 796.00) (Code : 532755) (F. V. : 5.00) : IT company Tech
Mahindra has posted a 27.5 per cent increase in consolidated net profit to Rs.1,203 crore in the December
2018 quarter.The company's consolidated revenue from operations increased 15 per cent to Rs.8,944
crore, against Rs. 7,776 crore in the year-ago quarter. This is a milestone quarter for Tech Mahindra with
USD 5 billion annual revenue run rate in sight. The BPO business continued its strong performance, grow-
ing 22 percent YoY and 13 percent QoQ. The company has been steadily adding employees in this busi-
ness, which stands testimony to its growth outlook.Digital continues to be at the heart of this growth jour-
ney, surging 10 percent sequentially and constituting 33 percent of revenue. The company bagging deals
worth $440 million in the quarter. The company added one net new client each in the top brackets of over
$50 million and $20 million and saw five new net addition to its total clientele.Margin was up 50 basis points
at 19.3 per cent. The stock is trading at PE of around 15. Buy.
(SEBI Registered Research Analyst)

* Disclosure :- The author has not brought / sold any stock advised in this news paper during last one month • All stocks rates / indices on
15th February, 2019 unless specified o Stoploos is useful for Short - Medium term investors only
* Disclaimer :- • Smart Investment will not be responsible / for any loss arising out of investment based on its recommendation. • Though,
every care has been taken, we will not responsible for any errors / omissions o All disputes are subject to Ahmedabad jurisdictioner
Financial Weekly

INVESTMENT
Dalal Street Whispers - Dilip K. Shah
Positive Co. Name Code Q3 FY18 Q3FY17

N.P. N.L.
Turnaround Prime Focus 532748 26.8 8.65
Companies I.B. Real 532832 202.4 3.3
in Q3 Results BGR Energy 532930 10.8 4.34
Jet Airways (Rs. 232.00) (Code: 532617) :- The airline reported loss of Rs. 588 crore for De-
cember quarter as against net profit of Rs. 165 crores last year. However, the company has ap-
proved a bank-led provisional resolution plan (BLPRP) to meet a funding gap of nearly Rs. 8,500
crores. As a result, lenders will take over the pilot's chair from Jet chairman Naresh Goyal.
Dhampur Sugar (Rs. 185.00) (Code: 500119) :- The Centre has hiked sugar sale price by Rs.
2 per kg, which will benefit sugar companies.
Infibeam (Rs. 39.00) (Code: 539807) :- This e-commerce company reported profit of Rs. 27
crores for December quarter, which was nearly 15 times more than Rs. 1.90 crores last year. The
stock is a recommendation strictly for trading purposes. Profit can be booked on every rise.
JK Tyres (Rs. 88.00) (Code: 530007) :- The company reported 2.5 times jump in standalone
net profit and 26.7 times on a consolidated basis for Q3. Moreover, the company has made prefer-
ential allotment of Rs. 200 crore worth of shares to the promoters.
PNB Gilts (Rs. 30.00) (Code: 532366) :- For December quarter, it has reported income of Rs.
93.3 crores, as against Rs. 36 crores last year. Income shot up by five times from Rs. 44 crores to
Rs. 202 crores. The stock is on the radar of small investors.
Yes Bank (Rs. 218.00) (Code: 532648) :- The stock has been highly volatile in the past few
months. The share surged by 31% in a day after the Reserve Bank cleared the bank of any dispar-
ity in reporting bad loans. This was the single biggest day gain in the bank's history. Its market cap
shot up by Rs. 12,000 crores.
Emami (Rs. 360.00) (Code: 531162) :- US-based PE firm KKR is in advanced talks to invest up
to Rs. 2,000 crores in Emami group through a structured credit deal. The deal will help Emami
expand its cement business and repay some promoter financed loans.
Reliance Industries (Rs. 1,243.00) (Code: 500325) :- The central government is likely to hike
natural gas price by 10% to $3.72 per MMBTU from April 1. This will benefit major gas producers
such as Reliance and ONGC.
ABB (Rs. 1,245.00) (Code: 500002) :- The company's board has decided to demerge its power
grid business. Such a move will have a positive impact on the stock.
Financial Weekly

INVESTMENT
Dilip Buildcon (Rs. 445.00 (Code: 540047) :- The company has finished the rehabilitation and
upgradation of National Highway project in Andhra Pradesh 60 days before the schedule, making
it eligible for a bonus of Rs. 3.56 crores. The stock surged 10% on the back of these news.
Va Tech Wabag (Rs. 285.00) (Code: 533269) :- The stock surged by over 5% after the com-
pany bagged a Rs. 520 crore order from Jajmau Tannery Effluent Treatment Association.
Indian Acrylics (Rs. 7.60) (Code: 514165) :- As against Rs. 0.62 crores last year, the company
reported Rs. 5 crores profit in December quarter. Income was up by 12%. The share is likely to be
in focus.
Talwalkars Better (Rs. 106.00) (Code: 541545) :- The company's net profit for December quar-
ter was up by 44%, and income by 77%.
Bharat Dynamics (Rs. 240.00) (Code: 541143) :- The company reported profit of Rs. 188 crores
for the quarter, more than 30 times higher Rs. 6.2 crores last year.
Electrotherm (Rs. 171.00) (Code: 526608) :- The company reported excellent numbers for
December quarter. Net profit surged by over 1100% to Rs. 46.19 crores, whereas sales rose by
26%.
Siemens (Rs. 961.00) (Code: 500550) :- The company has recently sold some land in Gujarat
for Rs. 193 crores.
HCL Techno (Rs. 1057.00) (Code: 532281) :- The company has tied up with IBM for a hybrid
cloud platform.
JK Paper (Rs. 125.00) (Code: 532162) :- It has reported good numbers for Q3. Paper demand
is likely to remain strong.
Financial Weekly

INVESTMENT
Senior Astrologer
Dharmesh Joshi
Mob. : 9909941816
E-mail :
stockmarket@ganeshaspeaks.com
Sensex Predictions : Dt. 18th February to 22nd February

" Please consider 10 minutes plus and minus in each prediction, and act accordingly. " Ganesha
advises you to compare every prediction with the prediction of the previous time slot.
18-02-2019 Monday
" During the entire week, the last 15 minutes will show the same pattern.
" As per the book for April 2019 to March 2020, a risky pattern is foreseen.
" From opening till 12:30, Nifty will move around the surface, avoid taking risk.
" From 12:30 to 13:05, Nifty will be up.
" Between 13:05 and 14:15, Nifty will be down.
" From 14:15 to 15:30, overall Nifty will be up, but in between there may be a correction.
19-02-2019 Tuesday
" Moon is with Rahu, so there will be confusion.
" From 9:40 to 12:30, Nifty will be down.
" Divide the phase between 12:30 and 14:30 into two parts, Nifty will be up in the 1st half and
down in the 2nd half.
" Between 14:50 and 15:30, Nifty will be mixed to negative.
20-02-2019 Wednesday
" Opening will be positive, but Nifty will go in down trend, so first of all consider from where the
Nifty will open.
" From 9:30 to 10:00, Nifty will be soft side.
" Between 10:00 and 11:11, Nifty will be mixed to slight positive.
" From 11:11 to 12:30, Nifty will be down.
" Between 12:30 to 13:10, Nifty will be up.
" From 13:10 to the closing bell, there is no clear trend, so just opt for jobbing.
21-02-2019 Thursday
" From opening till 10:10, Nifty will be slight positive, as per the big view.
" From 10:50 to 12:30, the negative impact in the 'A' group stocks, which will influence Nifty.
" The time frame between 12:30 and 12:50 is small, but Nifty may jump up. This possibility was
expressed one week in advance.
" From 12:50 to 14:50, Nifty will be soft or slight negative.
" Between 14:50 to 15:00, Nifty will be up.
" In the last 30 minutes, there won't be anything interesting.
22-02-2019 Friday
" Today, numbers 2 and 9 are dominant, so Nifty may make an aggressive pattern.
" Trade as per capacity, there are two trends today.
" Sell Nifty around 11:11 and exit once you earn profit.
" Around 12:12 buy Nifty and exit when you earn profit.
Financial Weekly

INVESTMENT
News Track
Knight Frank Global Outlook 2019 Report:

Bengaluru set to witness 6.6% office rental
growth in 2019, third highest globally
Knight Frank has released ‘Global Outlook 2019’ report today in India. Bengaluru has emerged
as the third fastest growing office market in terms of prime rental values for office space globally.
The estimated growth in office rental values in Bengaluru by end of 2019 is expected to be 6.6%
over 2018.
Key findings from the Report
· Bengaluru emerges amongst the top cities worldwide to witness a steep growth in office rent-
als at 6.6% for 2019.
· Mumbai prime rental values to remain stable at 0.3% possible growth in 2019
· Bengaluru (13.2%), Mumbai (11.5%)and Delhi (10.1%), to be Global Hotspots in terms of office
rental growth with forecasts by 2021
· Vacancy rate to improve in New Delhi and Mumbai with current 16.5% (2018) and 19.8%
(2018) to 15%(2021) and 14%(2021), indicating an increase in employment generation, whereas
Bengaluru remains the same at 3.2%.

Financial Weekly

INVESTMENT
News Track
Lagnam Spintex
expansion work ahead of schedules
New Plant site at the time of IPO: Current status of new plant site:
Bhilwara (Rajasthan) based Lagnam Spintex Ltd. (LSL) came with its maiden IPO of Rs.
24.60 crore in September 2018. The issue was oversubscribed by nearly 5 times. It raised
this fund for its capex plans of Rs. 125.40 crore to diversify into super fine open end cotton
yarn manufacturing it the adjunct plot. Said project funding was planned with internal accru-
als and IPO funding of approx. Rs. 31.40 crore and the balance i.e. Rs. 94 crore as bank
loans at a concessional rates of 3.5% p.a.
While as per offer documents, LSL indicated that it will start its expansion plans from
March 2019; in fact it has already started on this project from mid December 2018. It has
already spent internal accrual and IPO funding in this project and has also utilized around
Rs.50 crore from the bank loans. It is utilizing the bank loan as and when it makes new
machinery purchases.
Today it is ahead by almost two and half month on its expansion plans and is confident of
starting trial runs as well as commercial production much before the schedules. Currently
around 550 persons are working on this expansion project that includes new workmen (over
250) who are being trained along with installation as well as production process.
Financial Weekly

INVESTMENT
News Track
Cosmo Films Ltd's PAT increased by 36%

and Net revenue by 22% for Q3 FY19
Cosmo Films Limited, a global leader in films for packaging, labelling & lamination applica-
tions and synthetic paper today declared its financial results for the quarter ended December
2018. The company has grown both in terms of net revenue and EPS during the quarter.
Q3 FY19's net revenue increased by 22% on YOY basis due to increase in sales volume
(9%) and pass through of increase in raw material prices (13%)
The domestic film margins continued to decline until November. Besides there was an
adverse impact from one-time inventory revaluation loss of Rs.9 crores due to sudden sharp
fall in raw material prices towards December end. The results were also impacted by hedging
cost/forex losses of Rs.4.5 crores (vs. Rs.3.4 crores gain in corresponding quarter).
Financial Weekly

INVESTMENT
REVIEW OF “SMART PLUS NEWS LETTER”

Amazing 27% RETURN SMART GAIN
FOR SMART INVESTORS
Company Reccom. Weekly Ch. Company Reccom. Weekly Ch.
11-2-2019 High (%) 11-2-2019 High (%)
Ador Welding 326.55 340 4.12 Reliance Infra 118 127 7.63
Sukhjit Starch 500 528 5.6 Tech Mahindra 805 814 1.12
Siemens 1030 1048 1.75 HDFC Bank 2121 2154 1.56
UPL 812 824 1.48 Wipro 372 379 1.88
Muthoot Fin. 517 531 2.71 IGL 286 292 2.1
SRF 2220 2280 2.7 Inflame 164 169 3.05
TCS 2062 2093 1.5 A.B. Fashion 212 220 3.77
Garware Techno 1036 1098 5.98 Reliance Capital 129 151 17.05
Teamlease 2773 2973 7.21 Adani Port 330 352 6.67
Vinati Organics 1622 1673 3.14 Ambuja Export 228 235 3.07
V-Guard 192 196 2.08 DHFL 108 131 21.3
MOIL 160 163 1.88 Parag Milk Foods 216 219 1.39
Vodafone IDEA 29 31 6.9
Exide Ind. 211 214 1.42
Dish TV India 29.85 34 13.9
Granules India 86 88 2.33
Hitech Corp. 93.6 100 6.84
Reliance Nippon 163 168 3.07
ITI 96 99 3.13
Oberoi Realty 446 472 5.83
Manappurm Fin. 85 108 27.06
I.B. Housing Fin. 614 667 8.63
INOX Wind 65 70 7.69
IRCON 386 394 2.07
D.B. Realty 22 23 4.55
Kotak Bank 1299 1314 1.15
Walchandnagar 79 80 1.27
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Financial Weekly

INVESTMENT
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Financial Weekly

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

INVESTMENT
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FII Activity (Rs. in Cr.)

Most Popular Webstie for the Stock Market Investors

SMART 17th Feb. 2018 to 23rd Feb. 2019 6

Rapid Fire Stocks

- Kalpna J (Email- Kjtech79@gmail.com)

(Ring : 97690 37711) Twitter : @Kj_TechTrades

Reliance Industries Ltd. Buy at CMP

SMART 17th Feb. 2018 to 23rd Feb. 2019 7

HDFC Bank Buy at CMP : 2105

SMART 17th Feb. 2018 to 23rd Feb. 2019 8

Smart SME Stocks - Dilip K. Shah

SME STOCKS TO BE CONSIDERED

Yasho Ind. (Rs126.00) (Code:541167). (FV:10) (Market Lot : 1200 shares)

Zota Healthcare (Rs.266.00) (NSE SME) (FV:10) (Market Lot:500 shares)

Sanginita Chemicals (Rs.45.00) (NSE) (FV:10) (Lot Size:1000 shares) :-

SMART 17th Feb. 2018 to 23rd Feb. 2019 9

MEGHMANI ORGANICS LTD

SMART 17th Feb. 2018 to 23rd Feb. 2019 10

Nifty Tested lower range of Support

SMART 17th Feb. 2018 to 23rd Feb. 2019 11

AB Capital : (Buy Range: 80.5-79.5)

Buy or Sell, Confused ?

SMART 17th Feb. 2018 to 23rd Feb. 2019 12

Stock Buzz Subramanian Mahadevan

EPC Industries Limited

SMART 17th Feb. 2018 to 23rd Feb. 2019 13

Nifty & Sensex Movement during the last week

SMART 17th Feb. 2018 to 23rd Feb. 2019 14

This Weeks Recommendations

SMART 17th Feb. 2018 to 23rd Feb. 2019 15

SMART 17th Feb. 2018 to 23rd Feb. 2019 16

This week's Low is Good Support

SMART 17th Feb. 2018 to 23rd Feb. 2019 17

SMART 17th Feb. 2018 to 23rd Feb. 2019 18

SMART 17th Feb. 2018 to 23rd Feb. 2019 19

From Basic to Advance

• One to One / Webinar Classis for Technical Analysis

SMART 17th Feb. 2018 to 23rd Feb. 2019 20

Smart Education - Yog Joshi

Topic - 8 (5) - Type of Candlestick Pattern

SMART 17th Feb. 2018 to 23rd Feb. 2019 21

BUY.... BUY....BUY TIPS OF THE WEEK

SMART 17th Feb. 2018 to 23rd Feb. 2019 22

TECHNICAL TALK Dhananjay Kadam

STOCKS TO SHORT FOR GOOD GAIN

this pattern stock can test it's old

SMART 17th Feb. 2018 to 23rd Feb. 2019 23

Think about NIFTY FUTURE ?

SMART 17th Feb. 2018 to 23rd Feb. 2019 24

Commodities Chart & Levels

CRUDE OIL :- Crude oil con-

SILVER :- Silver chart