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53

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


VOL : 12 • Issue No: 12 RNI No : GUJENG / 2008 / 24320 5th May to 11th May 2019

FII Activity (Rs. in Cr.)


Date Buy Value Sell Value Net Value
29-4-19 Holiday -- --
30-4-19 8263.78 8149.19 114.59
1-5-19 Holiday -- --
2-5-19 5759.4 5161.86 597.54
3-5-19 4034.84 4435.52 -400.68
TOTAL 18058.02 17746.57 311.45
DII Activity (Rs. in Cr.)
Date Buy Value Sell Value Net Value
29-4-19 Holiday -- --
30-4-19 4241.3 3511.28 730.02
1-5-19 Holiday -- --
2-5-19 2784.07 3575.78 -791.69
3-5-19 3476.54 3419.47 57.07
TOTAL 10501.91 10506.53 -4.6

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Financial Weekly

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Financial Weekly

SMART 5th May to 11th May 2019 5


INVESTMENT

Rapid Fire Stocks

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

(Ring : 97690 37711) Twitter : @Kj_TechTrades

Performance of : RAPID FIRE STOCKS


Indigo - 1481 to 1612 / HDFC Bank - 2292 to 2378
PVR - 1710 TO 1815

Titan (Buy at CMP - 1145)


Targets- 1450-2200, Time Frame - 6-18 Months, SL - 1030
TRIGGERS :

Akhshay Tritiya Special Stock


Bumper Results Expected, Trading near 52 Week High , Having a market cap of Rs 1Lac Crore,
At 39.2x FY20 projected earnings, , accumulation on every dips is recommended.,
Titan Q2 net profit inches up to Rs 314 cr
Total income increased 26.38 per cent YoY to Rs 4,433.62 crore during the quarter under re-
view as against Rs 3,508.04 crore in the same period last year.
Standalone profit before tax for Q2 FY19 stood at Rs 446 crore as against Rs 425 crore a year
ago, registering a growth of 5 per cent.
Titan Company’s Jewellery business has done well in the second quarter of the current fiscal
(Q2 FY19) and witnessed gains in market share. Exciting new collection launches and extended
diamond studded activation have resulted in good growth for Q2 FY19 and it is in-line with internal
expectations.
The company launched the Gulnaz collection in July 2018 in studded Jewellery which has
been receiving good customer response. Business has launched contemporary silver collection,

Cont...
Financial Weekly

SMART 5th May to 11th May 2019 6


INVESTMENT
under Mia brand, that is stylish, fashionable and affordable for the young modem woman.
The division added 16 Tanishq stores and closed 2, for the year to date, with the net retail space
addition being approximately 35,000 square feet.
Titan Company is an Indian designer and manufacturer of watches, jewellery, precision engi-
neering components and other accessories including sunglasses, wallets, bags and belts.
Titan Company Ltd reports a growth of 260/0 in 02 income. Titan Company Ltd announced an
impressive growth in income of 26% for the second quarter. The income from operations in the
second quarter, July to September 2018, was RS.4353 crores, against last year's income of Rs.3439
crores during the same period.
The income for April to September 2018, the first half of this financial year, stands at Rs.8622
crores, registering a growth of 16% over last year. The Standalone PBT for Q2 is Rs.446 crores,
against Rs.425 crores last year, recording a growth of 5%.
The growth in the profit before tax for the quarter was muted due to provision made to the tune of
Rs.29 crores for investments made as part of Treasury operations in inter corporate deposits in the
IL&FS group and certain one-time franchisee compensations on store takeover in the Jewellery
segment. The Jewellery business had a good quarter following a subdued first quarter and re-
corded an income of Rs.3582 crores as compared to Rs.2788 crores last year. The Jewellery

business grew by 29% over last year in Q2.


The income from Watches business recorded healthy growth too, for the quarter at Rs.676 crores
against Rs.576 crores in the previous year, a growth of 17%. The Jewellery division continues to
gain market share and watch business is seeing very good volume growth as well.
The Eyewear business grew well, by 19% in the quarter, recording an income of Rs.120 crores
Financial Weekly

SMART 5th May to 11th May 2019 7


INVESTMENT
as against Rs.I0l crores last year. Other segments of the Company comprising accessories grew
by 24% in Q2 recording an income of Rs.33 crores.
The previous year income for this segment in Q2 was Rs.27 crores. The Company's retail chain
stands at 1540 stores, as on 30th September 2018 with a retail area crossing 1.9 million sq.ft.
nationally for all its brands.
Titan Company Limited, a joint venture between the TATA Group and the Tamil Nadu Industrial
Development Corporation (TIDCO) commenced operations in 1984 under the name Titan Watches
Limited. Titan Company is the fifth largest integrated own brand watch manufacturer in the world.
Over the last three decades, Titan has expanded and explored into under penetrated markets and
created leading brands across categories.
The World of Titan is the exclusive chain of Titan stores. With over 438 stores and presence in
over 120 cities, the World of Titan is India's largest watch retailer. The world of Titan stores offer
customers the finest and largest range of Titan watches under the same roof. Because when you
own a Titan, you don't buy a watch; you live an experience. From creating the slimmest watch in
the world to providing customized retail solutions, our commitment to you is absolute and com-
plete. The World of Titan has an offering for everyone - across different styles ages, price points
and brands. The wide range of watches, delightful store ambience and unmatched service ensure
customer satisfaction. In keeping with the rapidly evolving trends in retail, Titan also proudly pre-
sents flagship experiences in Mumbai and Delhi.
Titan Company is a manufacturing company that produces India's largest and best-known range
of personal accessories — watches, jewellery, sunglasses and prescription eyewear. Precision
engineering is another area of specialisation that Titan Company excels in. The company was
established in 1984 as a joint venture between Tata and the Tamil Nadu Industrial Development
Corporation.
The company brought about a paradigm shift in the Indian watch market, offering quartz technol-
ogy with international styling, manufactured in a state-of-the-art factory at Hosur, Tamil Nadu. In
1995, the company diversified into jewellery under the brand Tanishq to capitalise on a fragmented
market operating with no brands in urban cities. In 2005, the company launched its second jewellery
brand, Gold Plus, to capitalise on opportunities in small towns and rural India. The company has
also made its foray into eyewear, launching Fastrack eyewear and sunglasses, as well as pre-
scription eyewear.
Selected as Best Employer for "National Award for the Empowerment of Persons with Disabili-
ties - 2014" by Government of India
• Titan ranked among the 100 most sustainable corporations in Asia in the Channel News
Asia Sustainability Ranking 2014.
• "Champion of Champions" award at the 8th Loyalty Summit for the Encircle Loyalty Pro-
gram. 2014
• Top Indian Company award under the Gems and Jewellery Sector at the Dun & Bradstreet
Corporate awards, 2014
Financial Weekly

SMART 5th May to 11th May 2019 8


INVESTMENT

Kotak Mahindra Bank Ltd. (Buy at CMP - 1417)


Targets- 1650-1900, Time Frame - 6-18 Months, SL - 1280

Category No. of shares Percentage


Promoters 572,465,964 30.06
Foreign Institutions 750,680,498 39.41
Others 221,287,834 11.62
General Public 189,629,524 9.96
NBFC and Mutual Funds 133,413,641 7.00
Financial Institutions 37,226,319 1.95

Kotak Mahindra Bank Ltd is one of the fastest growing bank and among the most admired
financial institutions in India. The Bank offers transaction banking, operates lending verticals,
manages IPOs and provides working capital loans. They have one of the largest and most
respected Wealth Management teams in India, providing the widest range of solutions to high
net worth individuals, entrepreneurs, business families and employed professionals. The
Bank has over 245 branches, a customer base of over 8 lakh and has spread all over India.
The Bank offers complete financial solutions for infinite needs of all individual & non-
individual customers depending on the customers need - delivered through a state of the art
technology platform. They also offer investment products like Mutual Funds, Life Insurance,
retailing of gold coins and bars etc. Apart from Phone banking and Internet banking, they
offer convenient banking facility through Mobile banking, SMS services, Netc@rd, Home
banking and BillPay facility among others.
The bank has overseas subsidiaries with offices in Mauritius, London, Dubai, Singapore,
New York & San Francisco. The overseas subsidiaries are mainly engaged in investment
advisory and investment management of funds, Equity & Debt Trading, management of GDR/
FCCB issuances, broker & broker dealer activities and investments.
Financial Weekly

SMART 5th May to 11th May 2019 9


INVESTMENT

HDFC Standard Life Insurance Company (Buy at CMP 414)


Targets - 650-780, time frame- 6 to 18 months , SL - 340
HDFC Standard Life Insurance Category No. of shares Percentage
Company Limited was incorpo- Promoters 1,038,514,075 51.69
rated as a public limited company Foreign Promoters 589,626,265 29.35
at Mumbai on 14th August, 2000. Foreign Institutions 162,101,501 8.07
The Company obtained the certifi- General Public 103,148,909 5.13
cate of commencement of busi- NBFC and Mutual Funds 55,601,647 2.77
ness on October 12, 2000. Further, Others 49,162,937 2.45
the Company obtained its certifi- Financial Institutions 10,037,681 0.50
cate of registration from IRDAI to GDR 780,207 0.04

undertake the life insurance business on 23rd October, 2000.

HDFC Standard Life is one of the most profitable life insurers, based on Value of New Business
(VNB) margin, among the top five private life insurers in India. Besides consistently being among
the top three private life insurers in terms of profitability based on VNB margin, The Company has
also consistently been among the top three private life insurers in terms of market share based on
total new business premium.

HDFC Standard Life was one of the first private life insurance company to register in India and
was established as a joint venture between HDFC (one of Indias leading housing finance institu-
tions) and Standard Life Aberdeen plc (one of the worlds largest investment companies), initially
through its wholly owned subsidiary The Standard Life Assurance Company and now through its
wholly owned subsidiary, Standard Life Mauritius. Currently, The Company has 414 branches
across India.
Financial Weekly

SMART 5th May to 11th May 2019 10


INVESTMENT

Smart SME Stocks - Dilip K. Shah

SME stocks worth keeping in mind


Vanta Biosciences (Rs. 195.00) (Code: 540729) (Lot size: 1,500 shares)
:- Established in 1995, Vanta Biosciences offers pre-clinical safety assessment services and pre-
clinical contract research organization to pharma, nutraceuticals, feed additive, biotech, agrochemi-
cals, cosmetic and other industries. It also offers risk assessment services for safety of Active Phar-
maceutical Ingredients. It has recently taken over a research lab. The company had come out with
its IPO in September 2017 and raised Rs. 7.56 crores by issuing 15.12 lakh shares at Rs. 50
apiece. The shares were listed on the exchange at Rs. 51 on October 6, 2017. The share can be
seen at Rs. 280 levels going ahead.

Chemcrux Enterprise (Rs. 87) (Code: 540395) (Lot size: 4,000 shares) :-
An ISO 9001: 2008 and ISO 14001: 2004 certified company, Vadodara-based Chemcrux is a manu-
facturer of intermediates for bulk drugs, dyes and pigments. It has the capability for development
and execution of high pressure oxidation, nitration, chloro sulphonation, etc. Its products are ex-
ported to US, Egypt, and Europe. It had issued shares at Rs. 18 in March 2017, while shares were
listed at Rs. 21.60. This Column had recommended the stock multiple times at a price of Rs. 32.
The share can be seen at Rs. 130 to Rs. 170 going ahead.

Veeram Infra Projects (Rs. 21.05) (Code: 542046) (Lot size: 2,000 shares)
:- Established in 1994, this Ahmedabad based company is engaged in the trading of graphics,
printing and general items, and also real estate business. The company has been focusing more
on real estate activities in the past two to three years. The company had issued shares at Rs. 51
apiece. The shares had touched a high of Rs. 54 post-listing, before continuously falling to Rs. 18.
The share has changed direction from the bottom price.
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

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


HDFC Bank 2367.00 Jet Air. 135.00
TBZ 62.00 Apollo Micro 140.00
Bharti Airtel 331.00 Zee Enter 411.00
West Coast Paper 244.00 Motherson Sumi 141.00
Astra Zeneca 2335.00 Unichem Labs. 188.00
NFL 36.00 Exide Ind. 216.00
Century Tex. 941.00 JBF Ind. 21.00
SPIC 24.00 Reliance Nippon 193.00
ICICI Bank 401.00 Ravalgao Sugar 2689.00
J K Paper 143.00 Bombay Dyeing 126.00
AIA Engg. 1748.00 Bajaj Finserv 7615.00
MRPL 70.00 DLF 177.00
BPCL 380.00 REC 142.00
BEL 88.00 Tata Motors 209.00
Ultratech Cement 4573.00 Pidilite 1204.00
Orient Paper 34.00 Navin Fluorine 679.00
Bajaj Auto 3060.00 8 K Miles 111.00
Sail 56.00 STAR Paper 123.00
Voltas 604.00 Infosys 723.00
Ruchira Paper 100.00 Chennai Petro 252.00
Blue Star 697.00 Dhampur Sugar 226.00
Bank of Mah. 16.00 Thirumalai Chem. 86.00
Oberoi Realty 523.00
Financial Weekly

SMART 5th May to 11th May 2019 11


INVESTMENT

SMART
BUY OF THE WEEK
Dark Horse
2 weeks ago we had recommended GOLDIAM INTERNA-
TIONAL at Rs.77.65 as dark horse, it zoomed to Rs.109.5 lev-
els and recorded almost 41% appreciation in just two weeks.

MOLD-TEK TECHNOLOGIES LTD


(526263 & NSE) (51.75) (Face Value: Rs. 2)
On 25th March 2019, we had recommended
this stock at Rs.45.50, after our recommenda-
Particulars Quarter Ended
tion it zoomed to Rs.54 levels and recorded al- Q4FY19 Q4FY18 % Var.
most 18.7% appreciation. Company posted su-
perb numbers in Q4 and looks attractive for in-
Sales 24.42 18.17 34.4
vestment purpose at CMP. Mold-Tek group is a PBT 5.30 0.02 26400
$ 65 million group that has 2 listed companies
named Mold-Tek Packaging and Mold-Tek Tech- NP 3.63 0.77 371.4
nologies. Mold-Tek Technologies Limited (MTTL) is a leading Engineering Services provider in India. Head-
quartered in Hyderabad, MTTL specializes in providing IT, Civil, Structural and Mechanical Engineering
services to its clients located across the globe. It has a strong team of world class resources with a variety
of skill sets and is complemented by two subsidiaries in USA ? Crossroads Detailing Inc., Avon, IN & RMM
Global Inc., Akron, OH. Mold-Tek serves over 200 clients in varied verticals across North America, Eu-
rope, Asia Pacific and Middle East. It has consistently helped clients cut down design and development
costs of Civil, Structural, Mechanical and Plant design engineering projects by 30-40% and delivered tech-
nologically superior output to match and exceed expectations. Mold-Tek has an in-house software devel-
opment team, quality control training and troubleshooting facilities. Mold-Tek is the only listed, most well
established company in the country providing civil engineering services. It is the fastest growing mechani-
cal engineering services provider in the field, with core expertise in Automotive, Poles & Towers and Oil &
Gas domains. Leaving no stone unturned, Mold-Tek has entered the most potential cloud services busi-
ness and is reaping benefits in the EU and US markets. It is one of the two silver partners of Sales force in
South India and the only SKUID partner for the entire EU and Asia. With such an edge over other outsourcing
firms, Mold-Tek's IT division has seen more than 100 clients, in just 2 years.
It has an equity base of just Rs.5.57crore that is supported by reserves of around Rs.45.12crore. The
Promoters hold 50.27% while the investing public holds 49.73% stake in the company.
Company has posted superb numbers for FY19. During Q4FY19, its PAT zoomed 371.4% to Rs.3.63crore
from Rs.0.77crore on 34.4% higher sales of Rs.24.42crore fetching an EPS of Rs.1.31. For FY19, its PAT
zoomed 115.43% to Rs.11.92crore from Rs.5.53crore in FY18 on 20.93% higher sales of Rs.89.38crore
fetching an EPS of Rs.4.31. Currently, the stock trades at a P/E of 12x.
MTTL is a regular dividend paying company and it has paid 40% interim dividend for FY19 and declared
30% final dividend for FY19.
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

SMART 5th May to 11th May 2019 12


INVESTMENT

TRADNICAL STRATEGY
Email: nimesh@nimeshthaker.com, M. 9228237373
NIMESH THAKER, BARODA
Sebi Registered NO. : INH000005874

Bulls are struggling to cross


resistance zone
Last week was very choppy ( volatile in narrow range) at index level. As I mentioned in my
previous week view “ cautions bulls, bear at work” , same way Bulls was struggling. Again global
equities are supportive and crude oil price fall to $70 from its recent high near $75. Fii flow was
remain healthy during past week which had given support to our market.

On technical point of view , The structure of nifty or the move from 11500 to 11850 during the
month of April could consider as weak because there is big RSI divergence on daily chart. So Nifty
should sustain above 11850 level to gain fresh momentum. On downside 11630-11550 are sup-
port for Nifty while on upside 11850-11900 may act as resistance for next week.

On option point of view, Nifty 11800 call option indicates highest open interest build up and
short covering seen on 11700 put option means short term trader not expect higher side in next
week.

With keep in mind all above data I expect, Nifty may remain in sideway range in 11850-11550 in
coming days. I expect either side break out will lead to move Nifty in that direction.

For your investment and stock related queries you can contact me on 9228237373.

Bharat Forge : Buy


Buy Range: 486-470
Target: 520-544 Stoploss: 460
Trade size : 10% of trading capital
Double bottom structure has confirm on daily chart indicates trend reversal of short term trend.
Fresh long build up also indicating bullishness. I expect stock to test 520-544 level in short term
hence recommend to buy 10% of your trading capital between 486-470 zone.
Financial Weekly

SMART 5th May to 11th May 2019 13


INVESTMENT

Stock Buzz
Subramanian Mahadevan
dolphincapital@gmail.com

Dhanlaxmi Bank Limited (Rs.20)


Revivingits Glory!
Dhanlaxmi Bank Limited (DBL) - is a Kerala based financial institution incorporated in 1927,
Dhanlaxmi Bank is one of the oldest mid-size private sector banks in India with a pan-India pres-
ence through a network of 260+ branches, 371+ ATMs covering 680 centers across 15 states. As
on March 31, 2018, the bank had total deposits in excess of INR 13000 crores with advances at
INR 7000+ crores and an asset base of Rs. 12333 crores. DBL has a well-diversified product
basket and is present across the Personal Banking, Corporate Banking, NRI Banking, Micro &
Agri Banking, SME Banking and other financial planning verticals. DBL strengths is its number of
customers, scale of business, breadth of product offerings, banking experience the bank offers and
the trust that customers have in the bank. DBL reported a turnaround result with PAT of Rs 12.38
crores (FY16: Rs 209.45 crores losses) in FY17 after three consecutive years of net losses. The
bank also reported a 9% growth in Net Interest Income (NII) totaling Rs 331.60 crores as compared
to Rs 304.68 crores last year. Further the bank reported a healthy improvement in the cost to in-
come ratio which resulted in the operating profits moving up to Rs 96.37 crores as compared to an
operating profit of just Rs 3.28 crores last year. Also GNPA had reduced to 4.78% in FY17 from a
peak level of 7% in FY15 and around 6.36% last year. The NNPA stands at 2.58% as on FY17 as
compared to 2.78% last year. In the recent concluded quarter of Q3FY19, the bank reported a net
profit of Rs 16.90 crore against the loss of Rs 21.74 crore in the corresponding period last year
although the total income remained flattish of around Rs 272.16 crore. Gross non-performing as-
sets (NPAs) rose to 8.11 per cent of the total advances, from 6.96 per cent at the end of the third
quarter of 2017-18. However, net NPAs declined to 2.93 per cent from 4.08 per cent a year ago.
Worst of asset quality is behind and management sounds more confident than before in the pre-
ceding three quarters with excellent profits. DBL - a strong takeover candidate currently trades at
less than 0.6 times P/BV on FY19 and 0.4 times P/BV FY20 which look attractive from a long term
perspective considering the banks size and long term prospects. Last year, Canada based private
equity giant Fairfax Holdings acquired 51% in another regional rival of DBL namely Catholic Syr-
ian Bank (CSB) for INR 1200 crore at Rs.140/share. Also the recent merger proposal between
India Bulls Housing Finance and decades old Lakshmi Vilas Bank (LVB), is happening at 2.8
times of latter's book value despite GNPA and NPA were at high single digits. NRI billionaire Mr.
Pillai who holds 10% stake in DBL, has been made as director and slew of management changes
are expected to happen in coming days to revive its glory as consolidation gaining pace in the
Indian private sector banking space resulting in better valuation. Accumulate for sure shot 100%
returns in one to two years' time with very limited downside.
Financial Weekly

SMART 5th May to 11th May 2019 14


INVESTMENT
Jatin Sanghavi
Market Scan (Mumbai)
(M) 098205 26455
jatinsanghavi100@yahoo.com

11550-11850 - RANGE TRADING CONTINUES


CONSOLIDATION AMIDST VOLATILITY
Market is at a very interesting juncture where both the indices after reaching life-highs have
entered a Trading Range of 300 Nifty points (11850-11550). As the country approaches last 3
phases of Current Lok Sabha Elections and the Results date 23rd May just more than 2 weeks
away, Market will witness further increase in Volatility. Interestingly the current Market Upward
movement is led by very few frontline stocks; market breadth is very narrow. There is very high
possibility that the above mentioned Trading Range gets taken away in the coming weeks, possi-
bly on the downside unless the lagging Index Mid-Cap 50 gives a positive breakout and starts
moving upwards. Bulls are keeping their fingers crossed and are hoping for a rally across the
board before the D-date 23rd May 2019.
TECHNICALLY SPEAKING :- Sensex opened the week at 39056, made a high of 39189, low
of 38753 and closed the week at 38963. Thus it closed the week with a loss of 104 points. At the
same time the Nifty opened the week at 11748, made a high of 11789, low of 11655 and closed the
week at 11712. Thus the Nifty closed the week with a loss of 42 points.
On the daily charts, both Sensex and Nifty have formed neutral formations for all three working
days of the week. Two were Dojis followed by Black body Spinning Top on Friday. On the weekly
timeframe, again both the indices have formed a Black body Spinning Top. Thus both daily as well
as weekly candlestick patterns are suggesting a neutral bias.
For the fifth week running, both the indices continue to remain in a Trading Range of Sensex
39500-38500 i.e. 1000 points and Nifty 11850-11550 i.e. 300 points. The top end of the Trading

This Weeks Recommendations


Rec. Name CMP SL TGT-1 TGT-2
Buy HDFC Bank 2367 2336 2414 2463
Buy Kotak Bank 1417 1392 1455 1495
Buy UPL 970 955 993 1017
Buy Astrazenca 2336 2284 2414 2497
Buy FederaL Bk. 97 94 102 107
:::: INDEX LEVELS ::::
S3 S2 S1 CLOSE R1 R2 R3
NIFTY 11393 11499 11603 11712 11856 11973 12089
SENSEX 37667 38125 38564 38963 39487 39838 40226
Cont...
Financial Weekly

SMART 5th May to 11th May 2019 15


INVESTMENT

Range is governed by the Bearish candlestick pattern formed at life-high levels which continues to
act as Resistance. Once the indices overcome this Resistance then we can expect Sensex to
scale pattern target of 41053 and Nifty 12232. A break on the downside which has multiple bot-
toms at lower boundary, can take the indices down to test the strong Support at the higher bottom
of Sensex 37667 and Nifty 11311 followed by Bullish Gap between Sensex 37230-37106 and
Nifty 11227-11180 which is a strong Support zone.
Both Sensex and Nifty completed a Bullish Flag pattern whose targets are at Sensex 40873 and
Nifty 12211 as long as Sensex remains above 38460 and Nifty above 11549. Previously, when the
indices gave a Bullish breakout for the Trading Range of 4 months; a Bullish Cup & Handle pattern
got completed, whose targets falls at Sensex 41053 and Nifty 12232. Both Sensex and Nifty are in
sideways consolidation and once that is over, both the indices will be headed for the above men-
tioned targets.
Both the indices again tested the short term average of 20dma (Sensex - 38872 and Nifty -
11671) successfully and managed a close above it. Both the indices continue to remain above the
long term average of 200dma (Sensex - 36637 and Nifty - 11022) and even the medium term
average of 50dma (Sensex - 37790 and Nifty - 11354). Thus the Trend in the long term, medium
term and short term Timeframe continues to remain Bullish.
MACD is in Sell mode whereas Price ROC is positive and in Buy mode. RSI (57) still suggests
Bullish momentum. Stochastic Oscillator %K (58) is above %D and hence in Buy mode. ADX (34)
suggests UpTrend still very strong. Directional Indicators are in Buy mode as +DI is above -DI. MFI
(59) suggests Positive Money Flow. OBV still suggests Uptrend. Thus majority of Oscillators are
suggesting a Bullish bias.
Options data for May series indicate highest Call Open Interest is now at the strike of 12500
whereas the highest Put build-up is at the strike of 11000. Thus Options data suggests a wide
trading range with resistance at 12500 & support at 11000.
Financial Weekly

SMART 5th May to 11th May 2019 16


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

PLAYING BELOW THE CRUCIAL RESISTANCES


Story of the markets still have not changed. Market continues to play below important resis-
tances and these resistances are same as described in our last article. 11800 on Nifty and 30400
on Bank Nifty continue to stay an important levels and markets can't perform so well until it breaches
these levels on upside. Since market is staying well above crucial supports which are lying at
11575 and 29480 on Nifty and Bank Nifty respectively, It still stands a chance to touch the upper
levels. However, markets are more or less expected to remain subdued for the current week and
consolidate further. Brainy participants should stay away from the market and stay calm until any
described level is breached on either side. We believe a swift move is expected above and below
the suggested levels.
RISING STAR:
Larsen & Toubro Ltd.(1363.00)
We could not resist the urge of bringing this stock back again to you. It is once again Larsen &
Toubro company that we have pulled up for you. The simple reason why this stock still looks very
lucrative is because the fantastic horizontal line this stock has breached in Nov-2017 and after that
price constantly staying above these level. Logically 1160 kinds of level for the stock was continu-

RISING STAR
Larsen & Toubro Ltd. (1363.00)
NSE: LT, SECTOR:Infrastructure-General

Cont...
Financial Weekly

SMART 5th May to 11th May 2019 17


INVESTMENT

ously acting as resistance before Nov-17 but after these level was breached the same kind of level
was acting as support. About four times the stock price went to test these same horizontal line as a
support just after Nov-2017. While price was being tested as supports the volume upspirt was also
visible and shown in given chart as blue oval. Also from 2014 price is continuously staying above
2 important support lines. The recent and steeper support line should be considered as our first
stop loss. Currently 1250 if considered as stop loss and if one's financial advisor is ready to keep it
as a stop loss then a target view of double the money from the described horizontal line at 1160 * 2
= 2320 can be estimated in coming 2 years.

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 assessment 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.

Nifty & Sensex Movement during the last week


NSE - Nifty Open High Low Close Diff
29-Apr-19 General Election Holiday NA
30-Apr-19 11748.75 11756.25 11655.9 11748.15 -6.5
01-May-19 Labour Day Holiday NA
02-May-19 11725.55 11789.3 11699.55 11724.75 -23.4
03-May-19 11722.6 11770.9 11699.35 11712.25 -12.5
Net Weekly Loss -42.4
BSE - Sensex Open High Low Close Diff
29-04-19 General Election Holiday NA
30-04-19 39,056.92 39,105.88 38,753.46 39,031.55 -35.78
01-05-19 Labour Day Holiday NA
02-05-19 39,036.51 39,189.95 38,882.99 38,981.43 -50.12
03-05-19 39,009.55 39,172.76 38,920.17 38,963.26 -18.17
Net Weekly Loss -104.07
Financial Weekly

SMART 5th May to 11th May 2019 18


INVESTMENT
- Parag Salot
Technical Trading Trends (SEBI Registered Research Analyst)
M. : 91-9930011789
Nifty Overview : In Last Trading Session, Nifty closed at 11762. Nifty is in positive zone and is just
above its resistance. If it sustains this levels then expect Nifty to go up further till 12000. Nifty near support
is at 11650 levels and next support level is at 11400.
Bank Nifty Overview : In Last Trading Session, Bank Nifty closed at 30060. Bank Nifty is in a wide
range from 29500 to 30600. It would be good option to trade and buy if it comes down near 29500 levels.

Trading Buy
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Arvind 500101 82.85 78/80 85 90 74
DHFL 511072 143 132/135 142 150 127
Jindal Steel 532286 183 175/178 185 192 172
MRPL 500109 70.75 68/70 74 78 65
Reliance Capital 500111 136 132/136 145 155 125
STAR 532531 484 475/480 490 500 468
Suzlon 532667 6.85 05-Jun 8 11 4

Trading Sell
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Muthoot Finance 511766 602 640/645 635 625 655
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

Sensex-Nifty is at life highs


But Your portfolio is still down by 30-50% ???
You want to reshuffle
your loss making stocks into profitable ones ?
For register whatsApp - Your name,
Mobile number, City on

7744804098
Financial Weekly

SMART 5th May to 11th May 2019 19


INVESTMENT

Smart Education - Yog Joshi


Technical Analysis
From
Basic to Advance

Topic 10 (2) Whats is Indicators and


Oscillators - Leading Indicators and
Legging Indicators
Hello Friends,
Hope you all are doing well...!!!
In the last issue of Smart Investments we started to discuss about Indicators and Oscillators,
and we discussed "Simple Moving Average" in detail
Hope you all find that article informative and helpful in your trading or investment purpose

Before going to next topic in detail , I wish to discuss about in this topic, what is Indicators and
Oscillators,what role they play in Technical Analysis and how traders and Investor get benefited
from it in their trading and investment decision.
Indicators and Oscillators are design on the basis of the stock's historical price data,volume and
open interest in the stock with the help of mathematical formula they gives us some number and on

Cont....
Financial Weekly

SMART 5th May to 11th May 2019 20


INVESTMENT
the basis of the same we can came to know whether stock is in Up Trend or Down Trend, its Over
Bought Position and Over Sold Position etc and that help us to refine our decision for investment or
trading
First we discuss about Indicators :-
Indicators are classified in two types
1) Leading Indicators (2) Legging Indicators
(1) First we discuss about Leading Indicators :- Name it self introduce this type of indicators that,
this type of indicators gives us an advance signal about trend change, bullish or bearish sentiment
etc
As benefit to use this type of indicators are that, we receive early indication of Buy or sell so we
can plan our trade, entry or exist accordingly
On second side, drawback of this type of Leading Indicators is, as they are giving early intima-
tion to us because of that some times that they might give false signals also or stock may react as
per signal some late...
Example of Leading Indicators : Relative Strength Index (RSI ), Stochastic Oscillator , Pivot
Points, Williams %R etc.
(2) Second type if indicators is Legging Indicators :- Name it self introduce this type of indica-
tors that these are the Legging Indicators means its gives intimation or the signal once the trend
has been already changed
Legging Indicators also known as trend following indicators, they are following the trend be-
cause of that they gives signal only once trend has already changed and bullish or bearish senti-
ment already been established
The positive side of the Legging Indicators is as they are the trend follower indicators so campair
to Leading Indicators there will be less chances of the false signal in case of Legging Indicators
and the drawback of the Lagging Indicators is as they gives late signal of the trend change of
bullish or bearish sentiment because of that some time traders and investor get late entry or exist
for particular trade.
Example : Moving Average, Bollinger Bands etc.
Indicators are always apply on the stock price chart ..
Now what is Oscillators :
An Oscillators is a technical analysis tool which help us to identify the over bought and over
sold position of any stock, commodity or currency
It mainly consists of one or two bands which oscillate between two extreme value and gives
result related to over brought and over sold position
When value of the oscillators approached at upper extreme value, security is considered as a
over brought position and when it reached at lower extreme value it considered as over sold
position of security
Example of Oscillators - RSI, MACD, Stochastic Oscillator etc.
Hope you find this artical informative and it help to refine our trading and investment decision
In next issue of Smart Investment we will discuss in detail about Exponential Moving Average...
Financial Weekly

SMART 5th May to 11th May 2019 21


INVESTMENT

TECHNICAL TALK Dhananjay Kadam


TECHNICAL ANALYST, M. 7588622374

Stocks for Handsome gains


# AAVAS FINAN-
CIERS LTD (Last
close Rs 1303.95) :-
Aavas Financiers is a housing
finance company, engaged in
providing home loans to the
customers belonging to low and
middle income segment in semi
urban and rural areas. This
company was listed in October
2018. It has given more than 60
% returns till date. The stock has
outperformed, when most of
NBFC's and financial sector stocks have underperformed and most have given big negative re-
turns. It has given very good breakout on daily chart. From Rs 822 on 04/02/19' the stock showed
one side vertical move and made a high of Rs 1260 on 11/03/19'. After that it was in good consoli-
dation. On 03/05/19' it gave a fresh breakout. It has formed a Bullish flag pattern on daily chart. One
can buy this stock for a price target of Rs 1534. Stop-loss is Rs 1255 on daily closing basis. Time
frame is 1 to 2 months.

# Gujarat Alkalies (Last close Rs 528.9) :- Gujarat Alkalies and Chemi-


cals Limited is a Caustic Soda manufacturing company. The Company produces caustic soda in
India with installed production capacity of 4,29,050 MT of Caustic Soda.
It had made a low of Rs 416 on 19/02/19'. It started going northwards upto Rs 547 and com-
pleted it's downward consolida-
tion. On 02/05/19' at Rs 496 it
gave a good fresh breakout.
Today i.e 03/05/19', the stock
gained 7 % with almost 13 times
rising volume. On daily chart, it
has formed an
Descending triangle pattern.
One can buy it for a price tar-
get of Rs 610. Stop-loss would
be Rs 507 on daily closing ba-
sis. Time frame is 1 month.

P.T.O.
Financial Weekly

SMART 5th May to 11th May 2019 22


INVESTMENT

# Pidilite Indus-
tries Ltd (Last close
Rs 1201.5) :- Pidilite In-
dustries Ltd is engaged in the
manufacture of adhesives and
glues, including rubber based
glues and adhesives.
It was in a bullish trend for
many days. On 15/04/19' it
made a life time high of Rs
1312. After that, vertical down
move started in the stock and it
came down up to Rs 1195 in straight line. After that the stock was in good consolidation. On 03/05/
19', it has given a fresh breakdown. It has formed a Bearish flag pattern on daily chart. One can
shortsell for a price target of Rs 1126. Stop-loss would be Rs 1223 on daily closing basis. Time
frame is 10-12 days.
Financial Weekly

SMART 5th May to 11th May 2019 23


INVESTMENT

Techno Funda sound stocks Sachin Shah


(Mumbai)

Our Past Review


Stocks Rate High Ch.
BATA INDIA 1059 1480 40%
ASTRAZENECA PHARMA 1871 2395 28%
TITAN COMPANY 922.5 1165 26%
RELIANCE IND 1127 1417.5 26%
TECH MAHINDRA 691 846.5 23%
BAJAJ FINANCE 2627 3165 20%
SRF 2192 2618 19%
UPL LTD 816.65 975 19%
BAJAJ FINSERV 6496.5 7747 19%
HDFC BANK 2004 2378 19%

FINE ORGANIC INDUSTRIES LTD


(541557 & NSE) (1435) (FV 5)
Fine Organic Industries Ltd is the larg-
est manufacturer of oleochemical-based
additives in India and a strong player glo-
bally in this industry. It produces a wide
range of specialty plant derived
oleochemical-based additives used in
food, polymer, cosmetics, paint, ink,
coatings and other specialty applications
in various industries. Company has got
9MFY19 9MFY18
Sales 760.64 crore Sales 590.31 crore strong distribution network within India
PAT 102.45 crore PAT 65.53 crore
Sales Growth 28.85% PAT Growth 56.34%
and globally. The states of art manufac-

turing facilities are located at Ambernath, Badlapur and Dombivali in Maharashtra.


Technical Observations : 52 Week High/Low: 1455/735 Respectively. The stock made
an all-time high of Rs 1455 on 03/05/2019. The stock is in strong uptrend since its Initial
Public Offer last year after forming its 52 week bottom at 735. Coming to indicators ADX,
MACD, PSAR and Super trend indicate buy on daily chart and weekly charts. The stock is
trading above 10, 20, 50, 100 and 200 EMA on Daily chart. The stock can be bought at 1435
and added on dips with a target price of Rs.1800 in next 12 to 15 months.

Cont...
Financial Weekly

SMART 5th May to 11th May 2019 24


INVESTMENT

VINATI ORGANICS LTD


(524200 & NSE) (1897) (FV 2)
Vinati Organics Limited established in 1989 is
a specialty chemical company, focusing on manu-
facturing specialty chemicals and organic inter-
mediaries. The company follows the highest qual-
ity standards and the products manufactured at
its two plants both situated in Maharashtra. The
company is world leader in two of their main prod-
ucts, Isobutyl Benzene (IBB) and 2-Acrylamido 2
Methylpropane Sulfonic Acid (ATBS). The com-
pany is present in over 22 countries worldwide,
and export products to customers across the US,
Europe and Asia.
9MFY19 9MFY18
Technical Observations : 52 Week High/ Sales 820.63 crore Sales 543.27 crore
Low: 1935/867.70 Respectively. The stock made PAT 199.96 crore PAT 91.97 crore
an all-time high of Rs 1935 on 03/05/2019 and is Sales Growth 51.05% PAT Growth 117.42%

in strong uptrend since July 2018. Stock has risen steadily from its bottom of 1365 formed earlier this year.
Coming to indicators ADX, MACD, PSAR and Super trend indicate buy on daily, weekly charts and
monthly charts. The stock is trading above 10, 20, 50, 100 and 200 EMA on Daily chart. The stock can be
bought at 1897 and added on dips with a target price of Rs.2450 in next 15 to 18 months.

BLUE STAR LTD


(500067 & NSE) (697.5) (FV 2)
Blue Star is India's leading air conditioning
and commercial refrigeration company, with a
network of 32 offices, 5 modern manufacturing
facilities, 2800 employees, and 2900 channel
partners. The Company has 5000 stores for
room ACs, packaged air conditioners, chillers,
cold rooms as well as refrigeration products and
systems, along with 765 service associates
reaching out to customers in over 800 towns.
Blue Star has also forayed into the residential
water purifiers business with a stylish and dif-
Q4FY19 Q4FY18
ferentiated range including India's first RO+UV Sales 1595.84 crore Sales 1346.33 crore
Hot & Cold water purifier. PAT 79.84 crore PAT 31.71 crore
Technical Observations : 52 Week High/ Sales Growth 18.53% PAT Growth 151.78%

Low: 832/508.05 respectively. The stock made an all-time high of Rs 842 on 02/04/2018 and corrected
gradually to its 52 week low of 508.05 in October last year. The stock has completed a cycle correction
of its uptrend from 2013 to 2018 by retracing close to 50% retracement of the move from 127 to 842 and
looks like having begun a fresh long term uptrend.
Coming to indicators ADX, MACD, PSAR and Super trend indicate buy on weekly chart. On monthly
chart the MACD is curving towards buy mode with super trend in buy mode. The stock is trading above
10, 20, 50, 100 and 200 EMA on Daily chart. The stock can be bought at 698 and added on dips with a
target price of Rs.830 in next 12 to 15 months.
Financial Weekly

SMART 5th May to 11th May 2019 25


INVESTMENT

Technical News : 6-5-2019 to 10-5-2019


Manu Consultants : Manishkumar - Kolkata
SEBI REG :- RESEARCH ANALYST- INH300002449

NIFTY FUTURE
NIFTY FUT SUPPORT AT11600-540AND RESISITANCE11880-12000
STRATEGY:-BUY BANK NIFTY ON DIPS TILL 29800 SL 29600 TA 30400-30800
STOCKS F & O:-
INDIGO :- BUY INDIGOON DIPS TILL 1550 SL 1500TA 1650-1700
OBC :- BUY OBC ON DIPS TILL 96SL 94TA 103-108
ADANI ENT :- BUY ADANI ENT ON DIPS TILL 124 SL 120 TA 134-38
DIVIS LAB :- BUY DIVIS LABON DIPS TILL 1670SL 1640TA 1750-1800
ALL SL ARE CLOSING BASIS
SELL STOCKS
SELL TCS ON RISE TILL 2190 SL 2240 TA 2100-2080
SELL INFY ON RISE TILL 745 SL764 TA 700-680
DELIVERY STOCKS
BUY PHILLIPS CARBON (Rs. 151) SL 120 TA 180-200
DISCLAIMER :-The Recommendations are based on technical analysis. There is a risk of loss in
trading.Please visit website www.dallalstreet.org for full disclaimer and disclosures.

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


Co. Name Code Price Co. Name Code Price
Federal Bank 500469 97.00 SBI Life Ins. 540719 664.00
Greaves Cott. 501455 147.00 Bharat Forge 500493 486.00
Indian Hotels 500850 153.00 Havells India 517354 768.00
Jindal Steel 532286 181.00 Grasim Ind. 500300 899.00
DCB Bank 532772 214.00 AU Small 540611 630.00
IFGL Ref. 540774 230.00 Reliance Ind. 500325 1407.00
Oceanic Foods 540405 126.00 UPL Ltd. 512070 971.00
JSW Steel 500228 308.00 Relaxo Foot. 530517 878.00
Laurus Labs. 540222 399.00 Kotak Mah. Bk. 500247 1418.00
LIC Housing Fin.500253 485.00 Bajaj Fin. 500034 3109.00
UNIPLY Ind. 532646 38.00 Godrej Prop. 533150 821.00
Financial Weekly

SMART 5th May to 11th May 2019 26


INVESTMENT

Terrific Shots - Dilip K. Shah

Godrej Properties Ltd (Rs.823.00) (Code:533150) :- The real estate sector com-
pany has its projects in Chennai, Chandigarh, Gurgaon, Ahmedabad, Nagpur, Kolkata, Mumbai,
Pune, Hyderabad, Bengaluru and Kochi. In the fourth quarter of FY2019, the company's consoli-
dated net profit increased from Rs42.28 crore to Rs156.66 crore, while income increased from
Rs533.09 crore to Rs1203.21 crore. The board of directors have approved a proposal to raise
Rs2500 crore through equity shares, preferential shares, debentures and qualified institutional
placement issue. Strong backing from Godrej Group, strong balance sheet and good performance
make the stock attractive for the investors.
AU Small Bank (Rs630.00) (Code:540611) :- The bank's share remained between
Rs745 and Rs502 during 52 weeks. The promoters hold 32.19% and public hold 67.81% stake in
the company. As against equity of Rs292.36 crore, the company has reserves of Rs2870.53 crore.
In March quarter, the company's income increased by 64.91% from Rs531.72 crore to Rs876.85
crore, while profit was at Rs118.24 crore. The bank came up with IPO in June 2017 at price of
Rs358 and it has given handsome returns to the investors in less than a year. The way bank is
disbursing loans, there is minimal possibility of default. The stock prices have witnessed a correc-
tion to make it attractive so it can be considered for investment.
SRF (Rs2572.00) (Code:503806) :- It has presence in technical textile, chemicals, pack-
aging and other segments. As against equity of Rs58.44 crore, the company has reserves of
Rs3506.10 crore. In December quarter, the company's income increased from Rs1378.20 crore to
Rs1907.21 crore, while profit increased from Rs131.22 crore to Rs165.71 crore with EPS of Rs28.83.
FIIs hold 17.10% and Mutual funds hold 10.93% stake in the company. In the current quarter, the
mutual funds have increased the stake by 2.43%. The company paid 120% dividend for 2018 and
interim dividend of 60% for 2019. The stock has been trading at alltime high and it bounce backs
after every correction in the price.
Ultratech Cement (Rs4617.00) (Code:532538) :- It is one of the biggest cement
manufacturing company in the country which is also active in cement products. Taking into consid-
eration the macro economic situation of the industry, it can be believed that the company is in
favourable position. The demand has witnessed reasonable hike. It will add 12 MT production
capacity in 2020. Along with housing sector, activities in industrial and commercial sectors have
also increased. The company's facility utilization is 90%. The cement prices are going up. In FY2019,
the company witnessed net profit of Rs2455.72 crore on income of Rs35703.50 crore. The board of
directors have announced dividend of Rs11.50 per share. Higher demand and price hike in ce-
ment sector may prove beneficial to the company.

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

SMART 5th May to 11th May 2019 27


INVESTMENT
Sarvesh Ashok Trivedi
Stock Wave (Mumbai) (Mob) 09820728124
www.chartsanketstock.com

The market is overbought


cautious approach needed in new buying
BSE Index (38963.00) :- It is moving upward from bottom of 38518.26. It shows towards over-
bought position on daily basis, overbought to neutral on weekly basis and overbought on monthly
basis. On upward movement, beyond 39290 it may go up to 39488, 39520 and 39770. On the
downward movement, below 38663 shows weak position.
Nifty Future (11762.00) :- It shows improvement from bottom of 11573.50. It shows overbought
position on daily, weekly and monthly basis. On upward movement, beyond 11780 it may go up to
11830, 11859, 11905 and 12015. On the downward movement, below 11700 shows weak posi-
tion.
Bank Nifty Future (30060.30) :- It shows improvement from bottom of 29426.60. It shows to-
wards overbought position on daily basis, overbought to neutral on weekly basis and overbought
position on monthly basis. On upward movement, beyond 30230 it may go up to 30315, 30485,
30655 and 30723. On the downward movement, below 29930 and 29662 shows weak position.
BEL (88.45) :- It shows downward movement from bottom of 102.20. It shows overbought posi-
tion on daily and weekly basis, while neutral position on monthly basis. On upward movement,
beyond 90 it may go up to 95.20 with resisting level at 102.20. On the downward movement, below
85 it may get support at 82.
HDFC (2006.40) :- It shows improvement from bottom of 1929.30. It shows overbought position
on daily basis, overbought to neutral on weekly basis and towards overbought on monthly basis.
On upward movement, beyond 2025 it may go up to 2050, 2075, 2100, 2125, 2150 and 2177. On
the downward movement, below 1998 it may get support at 1989.
HDFC Bank (2367.96) :- It shows improvement from bottom of 2241.60. It shows overbought
position on daily, weekly and monthly basis. On upward movement, beyond 2387 it may go up to
2408 and 2430. On the downward movement, below 2324 it may get support at 2304.
Reliance Ind (1408.80) :- Having reached 1321 level the stock prices have gone up. It shows
overbought position on daily, weekly and monthly basis. On upward movement, beyond 1418 it
may go up to 1425, 1437 and 1450. On the downward movement, below 1399 it may get support at
1385.
Siemens (1175.90) :- It shows downward movement from top of 1201.80. It shows towards over-
bought position on daily basis, while overbought position on weekly and monthly basis. On up-
ward movement, 1185 could be resisting level. On the downward movement, below 1145 it may go
down to 1135, 1118 and 1100.
Disclosure : The Recommendations are based on technical analysis. There is a risk of loss in trading.

Golden quote :-
All I can Control is myself
and just keep having positive attitude
Financial Weekly

SMART 5th May to 11th May 2019 28


INVESTMENT

Dilip Davda
e-mail Expert’s Eye
dilip_davda@rediffmail.com

A shorter week of slide


Will there be Mayhem?????
A shorter week with just three sessions of trade witnessed sliding pattern ahead of final three
phases of General Elections and the "D" day scheduled for 23rd May 2019. The way week moved
in a narrow but negative range has kept one and all on caution as we have been witnessing May-
hem for past few years' high volatile trades with both side wild swings. Will it happen this month
going forward or not, only time will tell?
As can be seen from the table above, during the week, indices moved in the range of 11789.30
-11655.90 and 39189.95-38753.46 for NSE Nifty and BSE Sensex respectively.
For the week, indices marked net weekly LOSS of -42.40 points for NSE Nifty and p -104.07
points for BSE Sensex.
All markets were closed on Monday on account of 4th phase of General Elections 2019.
Markets opened on a subdued note on Tuesday and continued to trade in red with a range
bound movement. While NSE Nifty lost just 6.50 points to close at 11748.15, BSE Sensex marked
a mere deficit of 35.78 points to end the day at 39031.55. Nifty broke level of 11.75K for close but
Sensex managed to close above 39K and gave sigh of relief. With both side wild swings, markets
turned highly volatile. Auto, Banking counters lead the doom. Surge in Metal, IT, Consumer Goods
and Oil counters curtailed slide in indices. FIIs and DIIs were the net buyers for the day.
All markets were closed on Wednesday on account of Labour Day Holiday.
With divergent openings on Thursday markets continued to move in trading zone to close in red.
NSE Nifty marked deficit of 23.40 points to end the day at 11724.75 and BSE Sensex lost 50.12
points to close at 38981.43, thus even Sensex broke level of 39K to close below that. Fund house

Ex-Bonus buying that gave push to indices turned sellers and thus
Foods & Inns (2 for 1) market turned negative for the week so far. Consumer Goods,
Banking, IT counters eased on profit booking. Small and
Right Issue Mid cap counters too eased on hammerings. FIIs were net
announcement buyers while DIIs were net sellers for the day.
Scanpoint Geo (62 for 645) On Friday too we marked divergent opening and slide
post noon. NSE Nifty lost 12.50 points to close at 11712.25
Bonus Meet
and BSE Sensex marked deficit of mere 18.17 points to end
Oceanic Foods (06.05.19)
Relaxo Foot (10.05.19) the day at 38963.26. Amidst volatile trade with subdued
Financial Weekly

SMART 5th May to 11th May 2019 29


INVESTMENT
mood market moved in a narrow range. IT, FMCG, Teck counters eased while Banking, Telecom
and Realty counters surged on renewed support. FIIs were net sellers while DIIs were net buyers
for the day.
Dollar moved around Rs. 69.25 a dollar for the week, Crude oil eased to mark 70.75$ a barrel.
Q4 number season is at its peak for now and will keep market in stock specific mode as usual.
Market will eye 5th phase of general election movements, global and domestic economic data to
mark intermittent move for the week.
Amidst such a scenario NSE Nifty and BSE Sensex may hover between 11950-11150 and
39600-38000 respectively for the ensuing week.
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)

During the week dividend announcements


Astec Life (15%), BASF India (30% + 20%), Bhansali Engg (50%), Can Fin Homes
(100%), Cholamandal Inv (20%), Exide Ind (80%), Gallantt Metal (2.5%), GRUH Fin (100%),
Indian Hotels (50%), Inv & Prec (20%), KPR Mills (15%), Kotak Mahindra Bank (16%),
L&T Fin (10%), L G Balkrishnan (50%), Mahindra EPC (10%), Maithan Alloy (60%), Mishtann
Foods (0.2%), Monsanto (250%), Nelco (15%), Orient Cement (75%), Orient Elect (50%),
Persistent Syst (30%), Raymond (30%), Reliance Nippon (30%), RPG Life (30%), Sagarsoft
(15%), Shanthi Gears (100%), Shilp Gravures (15%), Shoppers Stop (15%), Smruthi Org
(20%), Trent Ltd. (130%), Tube Inv (75%), Zensar Tech (90%), Arvind Smart (15%),
Aurionpro (20%), Bandhan Bank (30%), Blue Star (500%), Bombay Dyeing (75%), Britan-
nia (1500%), Container Corp (171%), Dabur India (150%), DCM Shriram (80%), DFM
Foods (62.5%), Everest Ind (75%), Future Life (70%), Hatsun Agro (200%), JM Fin (50%),
Kamdhenu (10%), Kansai Nerolac (260%), L&T Info (1550%), Laurus Lab (15%), MRF
(540%), Mold Tek Pack (40%), Mold Tek Tech (30%), Orient Paper (60%) Radico Khaitan
(60%), Sky Ind (10%), Sunteck Realty (150%), Tanla Solu (35%),Tata Power (130%),Victoria
Mills (50%), Akzo Noble (240%), Birla Corp (75%), Capri Global (18%),Century Text
(75%), Cholamandalam Fin (65%),Deepak Nitrite (100%), Godrej Consumer (200%), Hind
Uni Lever (1300%), HSIL (150%), Ind & Prud (250%), Kirloskar Ferrous (20%), L & T
Tech (675%), Pix Trans (27.5%), SiS (35%), Tata Chem (125%),Visaka Ind (70%), VST
Ind (950%) etc.
Financial Weekly

SMART 5th May to 11th May 2019 30


INVESTMENT

Scrip Watch - Siddharth Shah

HDFC Life Insurance (Rs. 413.00) (Code : 540777) (F. V. : 10.00) :- HDFC
Life Insurance has reported a 24 percent yoy growth in total premium as new business premium
grew 32 percent, outpacing the modest growth (16 percent) in renewal premium. The insurer's
individual annualised premium equivalent (APE) rose 13 percent to Rs 6,260 crore for FY19. Two
highlights of its performance are a 67 percent jump in term protection APE at Rs 1,045 crore and
annuity APE expansion of over 140 percent, though on a smaller base. HDFC Life’s continuous
focus on the relatively high margin protection business (term insurance) was clearly visible as its
share improved to 17 percent in FY19 compared to 11 percent in FY18 on an overall APE basis.New
business margin (post overrun) rose to 24.2 percent in FY19 compared to 23.2 percent a year ago.
In terms of valuation, the HDFC Life stock trades at 4.4 times its trailing Price-to-Embedded Value
(P/EV), with a significant premium to its peers. Buy.
Aurobindo Pharma (Rs. 779.00) (Code : 524804) (F. V. : 1.00) :- Shares of
Aurobindo Pharma jumped to the highest in over 31 months, after the margin of Sandoz’s U.S.
business, which it agreed to acquire last year, beat expectations for the March quarter. The busi-
ness, including Sandoz’s dermatology and oral solid units, posted revenue and operating profit of
$1.17 billion and $294 million, respectively, Novartis AG, which owns Sandoz. The acquired port-
folio would comprise over 300 abbreviated new drug applications, out of which 40-50 await ap-
proval. This, the Hyderabad-based pharmaceutical firm said, would drive growth in the near- and
medium-term. Nearly 33 out of the 39 analysts tracking Aurobindo Pharma have a ‘Buy’ rating on
the stock with the others recommending ‘Hold’. The Bloomberg consensus target shows a poten-
tial upside of 12 percent on the stock. Buy in phased manner.
L&T Infotech (Rs. 1677.00) (Code : 540005) (F. V. : 1.00) : L&T Infotech
reported 30.8 percent yoy growth in consolidated net profit for the fourth quarter to Rs 378.5 crore.
Consolidated revenue grew 24.2 percent to Rs 2,486 crore for the final quarter of FY19 from Rs
2,001.2 crore for the comparable quarter last year. For the full year ended March 2019, the company’s
net profit grew 36.2 percent to Rs 1,515.5 crore from Rs 1,112.4 crore last fiscal. The revenue for
the fiscal was Rs 9,445.8 crore, up 29.2 percent compared to the last fiscal. Banking and financial
services and insurance is the largest revenue generator for the company with the revenue at Rs
1,130.5 crore followed by manufacturing, hi-tech and CPG, retail and pharma. The stock is in con-
solidation mode. Buy in phased manner.

Disclosures : At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above.
The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author
may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also
is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions
undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.
Financial Weekly

SMART 5th May to 11th May 2019 31


INVESTMENT

Market Tips - Het Zaveri

Infosys (Rs. 723.00) (Code : 500209) (F. V. : 5.00) :- Country's second largest
IT services provider Infosys, on April 12, reported better-than-expected March quarter profit growth
of 12.88 percent sequentially, but lowered its FY20 revenue growth guidance amid likely global
growth worries.Profit for the quarter at Rs 4,074 crore was ahead of CNBC-TV18 poll estimates of
Rs 3,910 crore. Q3FY19 margin had a one-off impact from declassification of Panaya and Skava
from assets held for sale.Revenue in rupee terms during the quarter grew by 0.6 percent sequen-
tially to Rs 21,539 crore and dollar revenue increased 2.44 percent QoQ to $3,060 million, which
both were in line with analyst estimates.For the year, company's revenue in constant currency
grew 9 percent and margin stood at 22.8 percent against guidance of 8.5-9 percent and 22-24
percent respectively.Its digital revenues in Q4 at $1,035 million (33.8 percent of total revenues)
registered a sequential growth of 9.7 percent in constant currency and 41.1 percent year-on-
year.Infosys rallied 33 percent in last one year and 13 percent, so far, in 2019. Accumulate.
TVS Motor (Rs. 482.00) (Code : 532343) (F. V. : 1.00) :- TVS Motor Company
has reported a 19.2% decline in its standalone net profit to Rs.133.8 crore for the fourth quarter of
2018-19. Revenue rose to 4,384.02 crore against Rs.4,007.24 crore a year ago.. For 2018-19, the
company posted a net profit of Rs.670.1 crore, up 1.13% from Rs.662.6 crore. Meanwhile, com-
pany has registered a growth of 5% with sales increasing from 304,795 units in April 2018 to 318,937
units in the month of April 2019. Total two-wheelers registered a growth of 4% with sales increas-
ing from 293,418 units in April 2018 to 305,883 units in April 2019. Domestic two-wheeler sales
registered a growth of 3% from 241,604 units in April 2018 to 248,456 units in April 2019. Scooter
sales of the Company grew by 9% from 89,245 units in April 2018 to 97,323 units in April 2019.
Motorcycle sales grew by 9% with sales increasing from 131,704 units in April 2018 to 143,063
units in April 2019. The Company's total exports grew by 13% from 61,798 units registered in the
month of April 2018 to 69,565 units in April 2019. Two-wheeler exports grew by 11% increasing
from 51,814 units in April 2018. Figures are good as most of the industry players have shown
muted growth or degrowth. Buy for longer term perspective.
Tata Steel (Rs. 547.00) (Code : 500470) (F. V. : 10.00) :- Tata Steel Ltd’s
consolidated first quarter net profit more than doubled to Rs.1,934 crore from Rs. 921 crore in the
corresponding period of last year. It also witnessed an year-on-year (YoY) increase of 13.8% in
revenues to Rs.16,405 crore, while EBITDA for the quarter jumped by 75.2% to Rs,5118 crore.Tata
Steel India delivered a stand out performance of 31% EBITDA margin on the back of strong under-
lying business performance and improved market conditions. Last year in May,Tata Steel had
acquired Bhushan Steel Ltd under the Insolvency and Bankruptcy Code. The process of consoli-
dation of accounts is complete. Tata Steel has also thrown its hat in the ring for the stressed assets
of Bhushan Power and Steel, which will witness another round of bid revisions. Steel sector shows
positive trend in near future. Buy.

Disclosures : At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm,
his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested
interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based
on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible
for any legal or financial losses made by anybody.
Financial Weekly

SMART 5th May to 11th May 2019 32


INVESTMENT

SMART TIPS Smita N. Zaveri

West Coast Paper (Rs. 245.00) (Code: 500444) :- Shares of this B group listed
paper and paper products company have face-value of Rs. 2. The share touched a 52-week high
of Rs. 414 and low of Rs. 224. Promoter holding in the company is 56.72%. The company’s plant is
in Karnataka, where it makes paper for printing, writing, publishing, notebooks, and packaging. All
paper companies have reported good performance in the past two years. Closure of the plant of
BILT will benefit them. For December 2018 quarter, it reported income of Rs. 435 crores, which
was 6.5% higher than last year, while profit shot up by over 57% to Rs. 67.55 crores. EBIDTA was
up nearly 37% to Rs. 112 crores. The stock is trading at just four times the earnings, and can
deliver 15-20% returns in the short to medium term.
MRPL (Rs. 71.00) (Code: 500109) :- The shares of this refinery are listed in A group
and have face value of Rs. 10. The shares touched a 52-week high of Rs. 108 and low of Rs. 60. It
is the third largest refiner after HPCL and BPCL. Promoter holding is 88.58%. The company had
announced 60% dividend last year, which works out at 8.44%. For 2017-18, MRPL reported in-
come of Rs. 63,083 crores and profit of Rs. 2,224 crores. For December quarter, it reported income
of Rs. 20,250 crores, and loss of Rs. 267.72 crores. It is expected to report strong numbers for
March quarter. The stock can be seen touching Rs. 100 levels in the next 2-3 quarters.
IFGL Refractories (Rs. 230.00) (Code: 540774) :- IFGL Refractories is a part of the
SK Bajoria Group. The Indian MNC also has plants in Brazil, China, UK, US, and Taiwan. The B
Group listed shares touched a yearly high of Rs. 272 and low of Rs. 195. Promoter holding is
72.43%. Along with refractories, it also makes operating systems for iron and steel industries. It
makes Slide-Gate systems and refractories with latest know-how from Krosaki Harima Corpora-
tion, which is a subsidiary of Nippon Steel Corporation. The company has adopted the takeover
route to expand operations. The domestic demand for steel is expected to grow by 6-7% due to
Make in India, PM Awas Yojana, and other government policies. The company has equity of Rs.
36.04 crores, reserves of Rs 453 crores, and net-worth of Rs. 489 crores. For the December quar-
ter, it reported standalone income of Rs. 234.52 crores and profit of Rs. 8.23 crores. The EPS for
the first nine months was 14, and it is pegged at Rs. 18 for the whole year. The stock can be seen
touching Rs. 300 in 2-3 quarters.
SAIL (Rs. 56.00) (Code: 500113) :- The shares of this iron, steel and interim products
company are listed in A Group of BSE and have face-value of Rs. 10. The shares touched a 52-
week high of Rs. 91 and low of Rs. 44. A Maharatna, SAIL is a leading steel producer in the
country. It produces a wide range of basic and special steel products, which are used in railway,
construction, engineering, power, defence and automotive segments. It is the 24th largest steel
producer in the world in terms of capacity. It plans to invest Rs. 5,000 crores for new plants in
Gujarat, Maharashtra, and Andhra Pradesh. For December quarter, its sales were up by 3.3% to
Rs. 15,836 crores, while profit soared 1,328% to Rs. 616.30 crores from Rs. 43.16 crores in the
same period of last year. The stock can be seen touching new highs going ahead.

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 5th May,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

SMART 5th May to 11th May 2019 33


INVESTMENT

Smart super duper - Het Zaveri

Indian Hotel (Rs.153.00) (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 re-
serves of Rs4348.99 crore. In March quarter, the company's income increased from Rs1143.46
crore to Rs1244.32 crore, while profit increased from Rs79.30 crore to Rs114.32 crore. The com-
pany paid 35% dividend 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.
International Paper (Rs.443.00) (Code: 502330) :- The company's name has been
changed after America's International Paper acquired this Andhra Pradesh based company. As
against equity of Rs39.77 crore the company has reserves of Rs724.31 crore. In March quarter, the
company's income increased from Rs339.73 crore to Rs375.39 crore, while profit increased from
Rs32.73 crore to Rs59.91 crore. Paper industries' performance is good and the margins are going
up due to lowering production in China. The company has strong backing of the promoters and it is
an MNC so big investors eyeing paper industry could get attracted to the stock.
Tube Investment (Rs.375.00) (Code:540762) :- It is promoted by one of the leading
groups in Southern India Murugappa Group. The company owns three product divisions like engi-
neering, cycle and electric scooter and Metal Formed products. Sometimes ago, Murugappa Group's
NBFCs used to hold stake in the company but it has been shifted by setting up new company
called IT Financial Holding Ltd. It acquired gear maker Shanti Gears in 2012. The company's
equity is Rs18.75 crore. In the financial year 2019, the company's income increased from Rs4751.48
crore to Rs5463.66 crore, while profit increased from Rs155.51 crore to Rs240.42 crore with EPS
of Rs12.86. It owns popular brands like Hercules, BSA, Montra, Track & Trail. It owns production
units at Chennai, Nasik, Noida, Sanand, Uttarakhand, Pune, Halol, Medak, Bawal, Satara and
Mohali. The stock is good option for investment in phased manner. It paid interim dividend of 175%
and final dividend of 75% for FY2019.
Bandhan Bank (Rs.621.00) (Code:541153) :- The company came up with IPO at
price of Rs375 in March 2019 and it got listed with a bang. After listing also the bank's share prices
touched Rs741. However, the stock prices have witnessed a little correction after RBI imposed
some restrictions on the bank. In FY2019, the company recorded net profit of Rs1951.50 crore on
income of Rs6644.05 crore. The bank owns 2546 door step service centers, more than 864 branches
and 386 ATMs. It has strong presence in Assam, West Bengal and Bihar. It has also announced
merger with Gruh Finance which will benefit in the long run. The Gross NPA has come down from
2.41% to 2.04%, while net NPA has also come down from 0.70% to 0.58%. The return on asset has
increased from 0.73% to 1.28%. The stock can be purchased for long term on downward move-
ment.

Disclosures : At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above. The author, his firm,
his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author may have positions in above stocks so have vested
interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also is technical analysis based
on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions undertaken by them. The author won't be liable or responsible
for any legal or financial losses made by anybody.
Financial Weekly

SMART 5th May to 11th May 2019 34


INVESTMENT

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


E-mail : divanconsultancy@rediffmail.com

Short week - high volatility


Nifty is finding very difficult to sustain at the higher levels. Due to election, the volatility
has gone up. Nifty future has support at 11725.if that is taken out than possibility may show
11660.on upper side 11840 is resistance level.

Reliance strong; Reliance is going very strong above 1400 level. The buying may emerge
around rs.1390/95.share is up till it remains above rs.1385.this should be s/l.

On upper side 1420/30 and 1440 are levels to watch.

Tata motors. After one side move share is expected to consolidate for time being. The
result declared is not good. We like recommended sale on every rise. On don side it may
touch rs.200.

Yes bank; after continuous three days fall, on Thursday share was up on buying interest.

Buy on decline is advice.

Jet; after banks agreed for loan, why loan not disbured? The share is going king fishers
way. Now all are waiting for action.

In India air lines business is not good business. How Air India is performing?

Dabur India" profit down but we fell that share is good investment. Buy on decline around
rs.371 and s/l of rs.365.

Tvs motors results indicate that price should fall to rs.365/360. In days to come.hols short.

JSW steel is good buy around Rs.305 with s/l of rs.302.the upper side target of 312/313.

Vedanta has resistance at rs.171 short around this level.

Zee short around rs.425 with s/l of rs.430.


Financial Weekly

SMART 5th May to 11th May 2019 35


INVESTMENT

Investment Ideas telegram.me/rupeegains7

NIFTY :- For next week NIFTY has strong support around 11660 levels. Break will take it to
11625-11575 levels. On the upper side NIFTY will face strong hurdle at 11825 levels, cross over
with volume and close above will create short covering at take NIFTY up to 11875-11950 levels…
BANK NIFTY :- For next week BANK NIFTY has strong support around 29795 levels.
Break will take it to 29640-29550 levels. On the upper side BANK NIFTY will face strong hurdle at
30125 levels, cross over with volume and close above will create short covering at take BANK
NIFTY up to 30300-30500 levels…
INVESTMENT IDEAS…
BOMBAY DYEING & MFG CO LTD
(500020 & NSE) (126.5) (Face Value Rs.2)
For Q4, Company posted bumper number. During Q4FY19, its PAT zoomed 11345.94% to
Rs.1253.33crore from Rs.10.95crore in Q4FY18 on 267.71% higher sales of Rs.2786.36crore fetch-
ing an EPS of Rs.60.68. Everyone, whose financial advisor is allowing to trade in this stock for
short term can watch with a strict stop loss of Rs.120.
AGRI-TECH (INDIA) LTD
(537292 & NSE) (62.7) (Face Value: Rs.10)
Agri-Tech (India) Ltd is a group company of the Aurangabad-based Nath Bio-Genes, which was
demerged from Nath Seeds Ltd in 2004 to focus on agri sector activities.
It has an equity base of just Rs.5.94crore that is supported by huge reserve of around
Rs.102.56crore. It's share book value works out to Rs.182.66. Its P/BV ratio stands at just 0.34x.
The Company's value emerges from the following 3 verticals
1) Agri-Tech Holds 1495131 shares of Nath Bio-Genes (CMP 462) valued at Rs.69 crore.
2) It is engaged with corporate farming business and having land bank of around 1100 acres.
3) Agri-Tech holds 60% stake in Paithan Mega Food Park Pvt Ltd (PMFP) which is one of the
biggest food park spread across 110 acres.
At CMP, its market cap is just Rs.37 crore against its huge investments. It is a debt free com-
pany. Last time in August 2017 we covered this stock at Rs.60.75, after that it zoomed to Rs.184
levels and recorded almost 203% appreciation in 6 months. After hitting high of 184, stock came
down up to 50 levels in September 2018 and since September 2018 stock is trading between
Rs.50-60 levels. Everyone, whose financial advisor is allowing to trade in this stock for medium to
long term can watch with a stop loss of Rs.50.
Disclosures: At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned
above. The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in
website. Author may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer: Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true &
correct, and also is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no
responsibility for any transactions undertaken by them. The author won't be liable or responsible for any legal or financial losses made by
anybody.
Financial Weekly

SMART 5th May to 11th May 2019 36


INVESTMENT

÷kuLk yLku ykuðhzÙk^x : NA s{eLk yLku «kuÃkxeo Mkk{u


• NA s{eLk • huMkezuLMkeÞ÷ «kuÃkxeo
10.50% Úke 11.50% ðkŠ»kf
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Dharmesh R. Shah (ykuøkýs ðk¤k) 92272 07037
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y{ËkðkË, fze, f÷ku÷, {nuMkkýk, økktÄeLkøkh
Financial Weekly

SMART 5th May to 11th May 2019 37


INVESTMENT

MARKET TREND
NIKHIL BHATT
(+919979380808)
WWW.INVESTMENTPOINT.IN

PERIOD : 6-5-2019 to 10-5-2019

NIFTY FO CLOSED @ 11762 AS ON 03.05.2019


NIFTY FO Range @ 11686 TO 11808 Point In Short Term…!!!
NIFTY FO has resistance at 11797 - 11808 Point; above which other resistance levels are at
11818 - 11830 Point with highly Volatile Trend, In Downside support levels are at 11717 - 11686
Point; below 11686 Point, other support levels are at 11670 - 11646 Point.
I am positive for next bullish trend only above @ 11830 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
@ 10830 Point, again then the upper side target is quite high and it may touch @ 11848 Point in
short term...!!!
BANK NIFTY FO CLOSED @ 30055 AS ON 03.05.2019
BANK NIFTY FO Range
@ 29808 TO 30303 Point In Short Term…!!!
BANK NIFTY FO has resistance at 30130 - 30173 Point; above which other resistance levels
are at 30230 - 30303 Point with highly Volatile Trend, In Downside support levels are at 29930 -
29909 Point; below 29909 Point, other support levels are at 29880 - 29808 Point.
I am positive for next bullish trend only above @ 30303 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 @ 30303 Point, again then the upper side target is quite high and it may touch @ 30330
Point in short term...!!
Golden Stocks For Trading For the date - 06.05.2019 to 10.05.2019
1. RELIANCE IND. FO (1417) : It is suggested to Buy @ Rs 1403 with SL of Rs 1387 for the
target of Rs 1433 - 1440; below Rs 1387 it can fall up to RS 1380 - 1373 levels. If it crosses Rs
1440 level than expect nonstop rally up to Rs 1447....!!
2. HCL TECHNO. FO (1150) : Trading point of view Buy @ Rs 1333 With SL of Rs 1124 for the
target of Rs 1163 - 1173 level below Rs 1124 It can show further downfall up to Rs 1111…..!!!
3. BEML LTD FO (882) : Buy @ Rs 870 levels considering minor support of Rs 863 and stop
loss of Rs 857 for an upper target of Rs 898 -910 levels. Below Rs 857 it can slip up to RS 853 - 848
levels…!!!
4. CENTURY TEX.FO (946) : Buy @ Rs 933 levels considering minor support of Rs 930 and
stop loss of Rs.927 for an upper target of Rs 957 - 963 levels. Below Rs 927 it can slip up to RS 923
- 917 levels…!!!
5. GLENMARK PHARMA FO (639) : Buy @ Rs 627 levels considering minor support of Rs 622
and stop loss of Rs 618 for an upper target of Rs 654 - 660 levels. Below Rs 618 it can slip up to RS
613 - 606 levels…!!!
Cont.....
Financial Weekly

SMART 5th May to 11th May 2019 38


INVESTMENT
6. ASTRON PAPER (98) : Delivery base Buy @ Rs 93 of this stock near @ Rs 90 with SL of Rs
87 for the target of Rs 108 - 112 level. It is very good for medium term position also…!!!
7. OMAX AUTO (74) : This stock is looking very good to Buy @ Rs 67 with SL of Rs 63 for the
target of Rs 82 - 88 Levels below Rs 63 is stock shall witness free fall…!!!
8. DIVIS LAB (1711) : It is suggested to Sell with SL Rs 1737 for the target of Rs 1696 - 1690
below @ Rs 1690 it can slip up to Rs 1683 - 1677 level. Above Rs 1737 level will take the stock to
Rs 1744 - 1750…!!!
9. INDIGO (1582) : It is suggested to Sell @ Rs 1608 with SL of Rs 1616 for the target of Rs 1568
- 1560 ; below Rs 1560 it can fall up to RS 1553 - 1547 levels. If it crosses Rs 1616 level than
expect nonstop rally up to Rs 1630....!!
10. AURO PHARMA (784) : It is suggested to Sell with SL Rs 797 for the target of Rs 773 - 767
below @ Rs 767 it can slip up to Rs 763 - 760 level. Above Rs.797 level will take the stock to Rs
808 - 818..!!!
11. RAYMOND LTD (764) : It is suggested to Sell @ Rs 787 with SL of Rs 794 for the target of
Rs 750 - 744 below Rs 744 it can fall up to RS 740 - 733 levels. If it crosses Rs 794 level than
expect nonstop rally up to Rs 803....!!
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Financial Weekly

SMART 5th May to 11th May 2019 39


INVESTMENT

Primary Market - Dilip K. Shah

During Narendra Modi Government Market Cap increased from Rs83.78 lakh crore to 153.09 lakh crore
Sensex witnessed spurt of 14000 points: in Primary market 123 companies raised 1.38 lakh crore through IPO
This week three SME IPOs - two BSE SME and one NSE SME - in the market
Neogen Chem's mainboard IPO will get listed on May 8 : listing could be highly volatile
Artemis Ele's BSE SME IPO got poor response so price band reduced and deadline extended
Cian HC's BSE SME IPO gets poor response from day one so it may do Artenis Ele
Par Drugs & Chem's NSE SME IPO may witness fancy: Good response on the first day
Cian HC is overpriced issue: Due to poor response it may fail if not managed wisely
This week four NCDs issues - Muthoot Home, SREI Inf., Shakthi Fin & JM Fin - are in the market
Shriram City, Kosmattam, Manappurm Fin NCDs issues exited from the market
VR Films' BSE SME IPO got listed with nominal premium but closed at discounted rates
White Org and Evans Ele BSE SME issues have got closed with 1.5 times subscription
Arternis Ele's SME IPO will be in troubled water : Smart Investment's prediction turned true
Shapoorji Planoji's Sterling & Wilson approaches SEBI for Rs4500 crore issue
Shriram Prop's Rs1250 crore issue gets SEBI nod
The promoters come up with IPO mainly to take back Top Gainers among SME migrants
home more money than they invest in the company. In the Stocks Offer CMP Gains
Price (Rs.) (%)
last five years, the PSUs have also made handsome money Suyog Telematics 25 479.20 1816.9
in name of disinvestment. SRG Housing Fin. 20 350.7 1653.5
Vishal Fabrics 45 639.8 1321.8
However, only a handful of IPOs in the primary market BC Power 18 199 1005.6
Yash Chemex 23 248.9 981.1
have been able to match the growth witnessed by the sec- Lancor Cont. 12 120 900.00
ondary market. When NDA Government under leadership Bella Case Fashion 14 139.0 892.9
Prabhat Telecoms 51 484.0 848.0
of Narendra Modi took oath on May 26, 2014 the market Jiya Eco 19 145.6 666.1
capital was Rs83.78 lakh crore, which has touched Jupiter Info. 20 120.7 503.5

Rs153.09 lakh now. Sensex has gone up from 24717 to 39067 points. Total 123 compa-
nies raised Rs1.58 lakh crore through IPOs, of which 56 are giving negative returns and
others are giving positive returns up to 150%. Avenue Super Mart has given 335% and
Teamlease has given 251% return.
After exit of Neogen Chemical IPO, no mainline IPO has been announced mainly

considering Lok Sabha election results.


Grey Markets Premium
IPO Offer Premium Kostak Price Subject If NDA Government returns to power, a
Name (Rs.) (Rs.) *Minimum to long queue of IPOs can be witnessed
Application Sauda
in the market. Currently all eyes are on
Neogen 212 to 215 50 to 52 240 to 250 2700 - 2800
Cian HC 61 to 65 -3 to -4 Neogen Listing.
(Disocunt) However, SME IPOs have kept hit-
Par Drugs 51 3 to 3.50
Don't subscribe IPO only on the basis of Greymarket premium.
Before Investing check the fundamentals of IPO Cont...
Financial Weekly

SMART 5th May to 11th May 2019 40


INVESTMENT

NSE SME IPO


Sr Company Issue Open Dt. Issue size Offer price Minimum Rating Remark
Issue Close Dt. (Rs. Cr.) (Rs.) Applications Size Out of 50% %
1. Par Drugs 3-5-2019 16,72,000 Eq. 51 2000 Eq. Shares 38% : Apply
& Chemicals 8-5-2019 (Rs. 8.53 Cr.) (Rs. 1,02,000) (Short to Mid Term)

BSE SME IPO


Sr Company Issue Open Dt. Issue size Offer price Minimum Rating Remark
Issue Close Dt. (Rs. Cr.) (Rs.) Applications Size Out of 50% %
1. Artemis 24-4-2019 70,00,000 Eq. 55 to 60 2000 Eq. Shares 32%
Electricals 6-5-2019* (Rs. 42.00 Cr.) (Rs. 1,20,000) Risky
2. Cian HC 2-5-2019 62,16,000 Eq. 61 to 65 2000 Eq. Shares 36% : Overpriced
(Apply for Long Term)
9-5-2019 (Rs. 40 Cr.)
Artemis Electricals Issue Extended to 6th May from 30th April) & bottom Price revised from 55 to 54

ting the market. Currently three Allotment & Listing Process (Likely)
Neogen White Evans Cian Par Drugs
IPOs are in the market. Four Chemical Organics Electric HC & Chemi.
NCDs issues are also present in Issue Closed 26-4-19 2-5-19 3-5-19 9-5-19 8-5-19
Finalisation of Basis of Allotment3-5-19 7-5-19 8-5-19 14-5-19 13-5-19
the market. Refund/Unblocking of Fund from ASBA 6-5-19 8-5-19 9-5-19 15-5-19 14-5-19
Credit of Eq. Shares to Demat A/c.7-5-19 9-5-19 10-5-19 16-5-19 15-5-19
* Neogen Chemicals Listing Listing on BSE / NSE 8-5-19 10-5-19 13-5-19 17-5-19 16-5-19

:- The mainboard IPO with price band of Subscription Figures of SME IPO (Dt. 3-5-2019)
Rs212-215 closed on May 26. The is- IPO Listing Day Subscribed
Artemis Electricals BSE SME 6th Day Subscribed 0.63x
sue got 41.37 times subscription. IPO White Organics BSE SME Issue Closed on 2-5-19 1.36x
allotment has been completed on May 3 Evans Electric BSE SME Issue Closed on 3-5-19 1.59x
Cian Healthcare BSE SME 2nd Day Subscribed 0.09x
and unblocking will take place on May Par Drugs Chemical NSE SME 1st Day Subscribed 0.21x

6. Shares will be deposited on May 7. V R Films & Studios


• How and When will be listing :- The listing could be on Listing Information
May 8 around Rs240-260. It may cross Rs275 level with support BSE SME Code 542654
Listing Date 30-4-2019
of the market. However, it will get listed in 'T' group as the issue Offer Price Rs. 61.00
size was less than Rs250 crore. It is believed that it will be in Listing Price Rs. 62.00
Listing Day High Rs. 62.00
upper circuit of 5% for 10 days. So the listing could be highly
Listing Day Low Rs. 58.95
volatile. Listing Day Close Rs. 60.00
* Insight into SME IPOs:- CMP (3-5-19) Rs. 60.00

Last week's IPOs:-


• VR Films & Studio listing (542654) :- The issue with fixed price of Rs61 got listed
with nominal premium at Rs62 but went down to Rs58 and closed at Rs60. On Friday, the
stock closed at Rs60. So it got listed with premium but now being traded at discounted
price.
* SME subscription:-
• White Organics :- BSE SME IPO of Rs15.46 crore with fixed price of Rs63 a share
closed on May 2 with 1.36 times subscription.
Financial Weekly

SMART 5th May to 11th May 2019 41


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. Muthoot 8-4-2019 Base Size of Rs. 150 Cr. 1,000/- 10 NCDs BSE Crisil AA/Stable
Homefin 7-5-2019 with an optionto retain (Rs.10,000) By Crisil
AVOID
Shelf Limit Rs. 150 Cr. Lead Manager :
(Aggregating up to Edelweiss Fin.
Rs. 300 Cr.) Registrar : Linkintime
2. SREI 9-4-2019 Base Size of Rs. 100 Cr. 1,000/- 10 NCDs BSE BWR AA+
Infrastructure 9-5-2019 with an optionto retain (Rs.10,000) By
Shelf Limit Rs. 400 Cr. Lead Manager : Srei Cap. Brickwork AVERAGE
(Aggregating up to Karvy Inv., SMC Global,
Rs. 500 Cr.) Reg. : Karvy Fintech (P) Ltd.
3. Sakthi 10-4-2019 Base Size of Rs. 100 Cr. 1,000/- 10 NCDs BSE BBB (Stable)
Finance 9-5-2019 with an optionto retain (Rs.10,000) By
AVOID
Shelf Limit Rs. 50 Cr. Lead Manager : ICRA
(Aggregating up to Dalmia Securities Pvt. Ltd.
Rs. 150 Cr.) Reg. : S.K.D.C. Consultant
4. JM Finance 22-4-2019 Base Size of Rs. 200 Cr. 1,000/- 10 NCDs BSE AA by ICRA
Ltd. 21-5-2019 with an optionto retain (Rs.10,000) AA/Stable by CRISIL
AVOID
Shelf Limit Rs. 800 Cr. Lead Manager :
(Aggregating up to JM Financial Ltd & Other
Rs. 1000 Cr.) Reg. : Karvy Fintech Pvt.Ltd.

Subscription figure of Current NCDs Issue • Evans Ele. :- Rs1.93 crore issue with
Sr. NCDs Base Issue aggregating Subscirbed (x)
as on : 2-5-19 (Rs. Cr.) (Rs. Cr.) (against
fixed price of Rs52 a shares got closed
Base Issue) on May 3 with 1.59 times subscription. It
1. Magma Fincorp. 200 (Issue Closed 30-4-19) 1.02
2. Muthoot Home Fin. 150 300 1.96x was managed easily as it was too small
3. SREI Infra 100 500 0.99x
4. Sakthi Finance 100 150 0.86x
in size.
5. J.M. Finance 200 1000 1.36x

* This week's IPO:-


• Artemis Electricals :- Rs42 crore IPO with price band of Rs55-60 opened on April
24 and have got poor response from the beginning. It got only 0.03 times subscription till
April 30 so it has been extended till May 6. Moreover, the priceband has also been
reduced to 54-60. It has got 0.63 times subscription till May 3. The exercise to manage
the issue has been in full swing.
It should be noted that Smart Investment had correctly predicted that the issue may
be in troubled water if not managed successfully.
• Cian Healthcare :- Rs40 crore issue with price band of Rs61-65 opened on May 2.
Detailed analysis of the issue was published last week. The company's track record is
good but it is overpriced. It got only 0.09 times subscription in first two days. Moreover,
those who subscribed are also mulling over to withdraw their application. The issue will
close on May 9 and if not managed successfully then the issue may face problems.
• Par Drugs & Chemicals :- Rs8.56 crore issue with fixed price of Rs51 opened on
May 3. It got only 0.21 times subscription on the first day. More details are given in
separate box. IPO may witness higher fancy due to strong financial performance, allot-
ment of preferential shares at 25% higher price than the offer price and loan conserva-
Financial Weekly

SMART 5th May to 11th May 2019 42


INVESTMENT
tion, prestigious clients and reasonable offer price.
* NCDs issues :- Shriram City, Kosmattam Fin and Magma Fin Corp NCDs issues
have exited from the market, of which Magma got 1.02 times subscription to close on
April 30, despite the fact that the scheduled closing date was May 8. It got only 200 crore
against aim of raising Rs500 crore.
* This week four NCDs issues are in the market:
• Muthoot Home Fin. :- Rs150 crore issue opened on April 8. It has got 1.98 times
subscription so it may got closed on May 7.
• SREI Infra :- NCDs issue with base price of Rs100 crore and shelflimit of Rs500
crore opened on April 9. It has got 1 times subscription till May 3 and still needs Rs400
crore.
• Shakti Fin. :- The issue with base price of Rs100 crore and shelf limit of Rs150
crore has got 0.86 times subscription till May 3. It will close on May 9.
• JM Fin :- Rs200 crore issue with shelf limit of Rs500 crore has got 1.36 times
subscription on May 3. It will close on May 21. It is good option for investment.
* Insight into upcoming issues:-
• Shriram Properties :- The real estate sector company has got SEBI approval for
Rs1250 crore IPO including fresh equity of Rs250 crore and OFS of 4,24,03,371 shares.
• Sterlign & Wilson :- The EPS company promoted by Shapoorji Palonji has filed
documents with SEBI for Rs4500 crore IPO. It has orders worth Rs4300 crore on hand.
• M.T.Educare :- Backed by Zee Group, the online education technology company
plans IPO in near future. The valuation of the company is Rs700 crore.
***

Grey Market Movement


In Grey Market Neogen Premiums and subject to rates sky rocketed
Cian HC's BSE SME IPO may slip in discount: Long queue of sellers
Par Drugs witnessed premiums but volume too low: May witness fancy
It was expected that the Grey Market will turn passive with exit of Neogen issue. However,
reality is different. Neogen IPO premiums and subject to rates have soared high. Moreover, mar-
ket has turned active in SME issues as well. However, volume is low.
Neogen Chemicals :- The issue with offer price of Rs215 witnessed high volumes and premi-
ums touched Rs54-55 before settling down at Rs50-52. Subject to rates also touched Rs2900
level before coming down to Rs2700-2800.
Cian HC :- The issue with price band of Rs61-65 witnessed discount of Rs1.50-2 from the
beginning. Moreover, the issue size is less than Rs40 crore it became risky affair due to poor
response from the beginning. In the first two days, the issue got less than 10% subscription so
grey market discount increased to Rs3-4. Currently, there are more seller than buyers in the mar-
ket. The issue is costly so the investors are not willing to take risk.
Par Drugs :- IPO witnessed fancy from the first day and premiums will be Rs3 to 3.50.
Financial Weekly

SMART 5th May to 11th May 2019 43


INVESTMENT

Smart Best Buy S. N. Zaveri

Kotak Bank’s profit jumps 25%, NII up 18 per cent


HDFC AMC : Strong Q4 results attracts more investors
Relaxo Footwear : Free cash flow to increase further
Tata Elxsi : Margin improves in challenging time
Cyient looks more attractive after strong Q4
Kotak Bank (Rs. 1418.00) (Code : 500247) (F. V. : 5.00) : Kotak Mahindra Bank,
last week, reported a 25 per cent year-on-year (y-o-y) rise in its standalone net profit at Rs 1,407 crore in
Q4 on account of a higher net interest income (NII) and a fall in its provisions. The bank reported a net profit
of Rs 1,290 crore in Q4FY18. Total income rose by 18.5 per cent to Rs 7,672 crore on account of a 18 per
cent rise in its NII to Rs 3,048 crore. NII is the difference between interest earned and interest paid by a
bank. Provisions fell by 44.2 per cent y-o-y to Rs 171.3 crore. The bank has no exposure to IL&FS and Jet
Airways, said the management. The net interest margin (NIM) rose by 15 basis points (bps) y-o-y to 4.48
per cent. The asset quality depreciated with gross non-performing assets (NPAs) rising by 7 bps quarter-
on-quarter to 2.14 per cent of the loan book. Net NPAs were up 4 bps sequentially at 0.75 per cent. Total
deposits grew by 17.25 per cent year-on-year to Rs 2.2 lakh crore for the quarter, compared with Rs 1.9
lakh crore in Q4FY18. Advances grew 21.1 per cent to Rs 2.05 lakh crore for the quarter against Rs 1.6
lakh crore in the same period a year ago. The current account savings account (CASA) ratio as on stood at
52.5 per cent. Most of the brokers are recommending to buy this stock. Accumulate.
HDFC Asset Management (Rs. 1660.00) (Code : 541729) (F. V. : 5.00) :-
HDFC Asset Management Company rose after strong Q4. Its net profit surged 60.7% to Rs 276.17 crore on
9.51% rise in total income to Rs 547.45 crore over Q4 March 2018. HDFC Asset Management Company's
operating profit rose 44% to Rs 353.60 crore in Q4 March 2019 over Q4 March 2018. Total AUM was Rs
3439 billion as of 31 March 2019 compared to Rs 2920 billion as on 31 March 2018, a growth of 18%.HDFC
Asset Management Company (HDFC AMC) is investment manager to HDFC Mutual Fund, the largest
mutual fund in the country. HDFC AMC has a diversified asset class mix across equity and fixed income/
others. There has been 18% year-on-year increase in assets under management to nearly Rs.3.44 trillion.
Ebitda margins climbed to 73.3% in the last quarter from 59.61% a year earlier. The stock has spurted from
around Rs.1300 plus to Rs.1700 level in just less than three months. Buy at decline.
Relaxo Footwear (Rs. 878.00) (Code : 530517) (F. V. : 1.00) :- Relaxo
Footwear is one of the leading brand in footwear industry. The company is expanding its reach in southern
and western India. Since the product range primarily includes economically priced footwear, a significant
chunk of this growth will be led by higher volumes. Celebrity-backed endorsements may gain momentum
as advertisement budgets increase and product launches are undertaken periodically. Free cash flows are
slated to improve since there will be no significant capital outlays over the next two-to-three years. Existing
distribution framework is being consolidated to save costs. By virtue of these steps, margins are expected
to move up. Relaxo's stock price has limited downside risk from current levels. Accumulate.
Tata Elxsi (Rs. 873.00) (Code : 500408) (F. V. : 10.00) :- Tata Elxsi exited FY19
with moderate growth. Revenue grew by 15 per cent y-o-y in FY19 mainly led by stronger growth in automo-
tive and broadcast segments in 1HFY19, however, second half reflected pressure in major segments due
to macro challenges and JLR issues affecting performance. However, management managed to show
margin expansion of 100 bps to 26 per cent in FY19 on the back of better execution and benefit from rupee
depreciation. Going forward, FY20’s revenue growth is expected to remain slower than FY19 seeing soft
growth in the last two quarters and slow growth in embedded product design due to presence of macro
concerns. Automotive segment which is major contributor to EPD is expected to post laggard growth in

Cont...
Financial Weekly

SMART 5th May to 11th May 2019 44


INVESTMENT
FY20 due to JLR issue and slow growth in client ex JLR. Though broadcast segment (other major contribu-
tor to EPD) showed a slow growth in FY19, the company is expected to see success as its takes its OTT
to global market. Invest.
Cyient (Rs. 584.00) (Code : 532175) (F. V. : 5.00) :- : Cyient has reported a 54.7 per
cent rise in net profit to Rs 1,88.1 crore for the March 2019 quarter. Its revenue increased 9.5 per cent to Rs
1,162.9 crore. At the end of the March 2019 quarter, Cyient had 15,084 employees with voluntary attrition
rate at 19.9 percent and involuntary attrition at 4.6 percent. Cyient, whose board of directors in February
had approved buyback of shares worth about Rs 200 crore, said about 2.6 million shares had been bought
back till March 31, 2019, for Rs 167 crore. JM Financial maintained "buy" on the stock with a price target of
Rs 740. Morgan Stanley maintains "overweight" with the target price of Rs 720. Reliance Securities had
"buy" recommendation on Cyient with a price target of Rs 780. The stock is available at a cheap price with
P/E of 16.59x. Its return on equity stands at 18.16 percent. 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
3rd May, 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

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Financial Weekly

SMART 5th May to 11th May 2019 45


INVESTMENT

Dalal Street Whispers Dilip K. Shah


Gujarat Gas (Rs. 158.00) (Code: 539336) :- The board of this city gas distribu-
tion company is slated to meet on May 6 to finalise results for Q4 and the financial
year. It is likely to report 50% jump in net profit, and 20% higher income.
Indian Hotels (Rs. 153.00) (Code: 500850) :- The shares of this hospitality
company surged to 52-week high after it reported strong Q4 numbers. Net profit
for the quarter was up by 55%, whereas income grew by 9%. The company has
declared a dividend of 50% on shares of face value of Re. 1.
Thirumalai Chemical (Rs. 86.00) (Code: 500412) :- The board will meet on
May 6 to finalise quarterly results and announce dividend. Looking at the strong
performance of chemical sector, the company is likely to report strong numbers
for the quarter. The share is trading at a PE multiple of just 5.63.
Relaxo Footwear (Rs. 899.00) (Code: 530517) :- The company’s board is
slated to meet on May 10 to finalise quarterly results and to decide on bonus
issue. It is likely to announce a generous bonus issue.
MRPL (Rs. 70.00) (Code: 500109) :- Brent crude has fallen from $ 75 per
barrel to $70. The price is likely to fall further in view of OPEC’s announcement to
increase oil output after the sanctions on Iran, and higher inventory levels in US.
This will benefit OMCs as well as MRPL-Chennai Petro.
Godrej Properties (Rs. 825.00) (Code: 533150) :- This Godrej Group com-
pany has announced that it has acquired the 2.2 acre plot on which RK Studios
stands. It plans to come up with a mixed development project on the plot.
Ashok Leyland (Rs. 89.00) (Code: 500477) :- This Hinduja Group company
reported 10% rise in vehicle sales for the month of April. The sales volume of
LCVs was up by 14%, while that of medium and heavy commercial vehicles was
up by 5%.
Ircon International (Rs. 408.00) (Code: 541956) :- This Mini-Ratna and Sched-
ule A PSU company had come out with a Rs. 470-crore IPO in September 2018,
and issued shares at Rs. 475 apiece. The company recently bagged a 91.27
million dollars (Rs. 635 crores) order from Sri Lanka Railway.
Greaves Cotton (Rs. 147.00) (Code: 501455) :- The company’s board has
announced a buyback offer of Rs. 240 crores. Under the offer, it will buy back
1.37 crore shares at Rs. 175 per share. Considering the big gap between the
current price and offer price, movement can be seen in the stock in the coming
days.
Bombay Dyeing (Rs. 127.00) (Code: 500020) :- This Wadia Group company
has reported turnaround numbers for fourth quarter. It reported profit of Rs. 1,253

Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (Research Analysts) Regulation, 2014; • I and / or my clients may
have investment in this stocks • I/My family have no financial interest or beneficial interest of more than 1% in the company whose stocks I am
recommending • Stop loss is useful for Short / Medium Term investor Only • Smart Investment will not be responsible / liable for any loss arising
out of investment based on tis advices • Past performance may or may not be substainedin future " (Dilip K. Shah) Research Analyst : SEBI
Regn No. : INH000002152
Financial Weekly

SMART 5th May to 11th May 2019 46


INVESTMENT
crores as against loss of Rs. 159.38 crores in the March quarter last year. Its
turnover shot up nearly seven times to Rs. 2,786 crores as against Rs. 413 crores
in the previous quarter.
Cochin Shipyard (Rs. 379.00) (Code: 540678) :- The share is bouncing back
quickly after correcting sharply. As per reports, it has bagged a Rs. 6,311 crore
order from Indian Navy for eight Anti-Submarine and Warfare Shallow Water Crafts.
63 Moons (Rs. 151.00) (Code: 526881) :- The stock hit the upper circuit for
two straight days after the Supreme Court set aside the Centre’s decision to merge
National Spot Exchange with the company.
Tech Mahindra (Rs. 816.00) (Code: 532755) :- The shares of this IT sector
company have been on a roll. The shares have correctly slightly after surging
36% from the 52-week lows to touch an all-time high of Rs. 846. Leading analysts
are bullish on this stock.
NFL (Rs. 36.00) (Code: 523030) :- The company’s standalone income for the
year ended March 2019 was 47.35% higher than the previous year. EBIDTA was
up by 50% to Rs. 253 crores, while EPS went up from Rs. 1.38 to Rs. 1.65.
International Paper (Rs. 442.00) (Code: 502330) :- It has reported strong num-
bers for the year. Net sales were up by 10.5%, and EBIDTA by over 43%. On a
quarterly basis, EBIDTA was up by a whopping 83%. The company has been
reporting strong profit growth for 10 quarters.
Capacite Infra (Rs. 228.00) (Code: 540710) :- This realty company has re-
ceived a Rs. 229 crore order from Raymond’s realty division for a tower in Thane.
Navin Fluorine (Rs. 679.00) (Code: 532504) :- Board of this chemical com-
pany is slated to meet on May 6 to finalise audited results and to decide on divi-
dend. The share is in focus in anticipation of strong results, and high dividend. It is
noteworthy that the company had announced 500% dividend on the Rs. 2 face
value shares. The share’s book value is Rs. 200.

Disclosures as per SECURITIES AND EXCHANGE BOARD OF INDIA (Research Ana-


lysts) 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 invest-
ment based on tis advices • Past performance may or may not be substainedin future "
(Dilip K. Shah) Research Analyst : SEBI Regn No. : INH000002152
Financial Weekly

SMART 5th May to 11th May 2019 47


INVESTMENT
News Track

ICE MAKE's In-House Manufacturing


Plant Commissioned at Gandhinagar
Ice Make Refrigeration Limited (Ice Make), one of the leading manufacturer & supplier of
cooling solutions equipment, has commissioned its in-house manufacturing facility of con-
denser coil and evaporator coil at Dantali, Gandhinagar, Gujarat. The Company in December
2017 raised Rs 24 crore through initial public offer to part finance setting up this plant,
backward integration to improve production efficiencies and upgradation of existing facilities
at its plants in Gujarat and Tamil Nadu.

Mr Chandrakant P. Patel, Chairman and Managing Director, Ice Make Refrigeration Lim-
ited said "The Company earlier had to procure condenser coil from the domestic market and
majority of suppliers of evaporator coil from overseas. But now with the commissioning of
this in-house manufacturing facility with a capacity of 45000 units and up-gradation of vari-
ous machines at our existing plants we have efficiently improved our production efficiencies
reduced lead time in procurements and as well as reduced inventory carrying costs. The
condenser coils and the evaporator coils are an essential component of the condenser and
evaporator respectively, which are integrated into the refrigeration equipment. As planned we
have upgraded the existing facilities by Installing Laser Cutting Machine, Upgrading the PUF
foaming technologies, adding new models of Bulk Milk Chillers and carried other ancillary
improvements in the system assembly"

The company is currently supported by two state-of-the art manufacturing facilities speared
across 2, 45,000 square feet of land area at Dantali, Gujarat and 20,000 square feet of land
area in Chennai, Tamil Nadu. The Company manufactures Cold Rooms, Refrigeration Sys-
tems, Cold room doors, Mobile Refrigeration Vans, Chiller, Ice building Tank, Deep Freezer,
Bulk Milk chiller systems, Hose Chiller, Ice candy Machine among other cooling equipments.
These refrigeration products are used by wide range of Industries including Dairy, Ice Cream,
food processing, agriculture, pharmaceuticals, Cold Chain, Logistics, hospitals, Hospitality
and retail among others. The Company also exports its products to overseas clients in 21
countries.
Financial Weekly

SMART 5th May to 11th May 2019 48


INVESTMENT

REVIEW OF “SMART PLUS NEWS LETTER”


Amazing 38% RETURN
SMART GAIN FOR SMART INVESTORS
Company Reccom. Weekly Ch. Company Reccom. Weekly Ch.
15-4-2019 High (%) 15-4-2019 High (%)
Voltamp Trans. 1110 1160 4.5 Ultratech 4166 4273 2.57
Gillette India 7298 7885 8.04 Wockhardt 450 456 1.33
CEAT 1107 1132 2.26 CIPLA 556 568 2.16
TVS Motor 498 524 5.22 Novartis 688 695 1.02
Godfrey Phillips 1154 1192 3.29 Axis Bank 764 779 1.96
IndiGo 1432 1650 15.22 HUL 1720 1744 1.4
GMM Pfaudler 1218 1446 18.72 G.E. Shipping 297 300 1.01
Astrazeneca 2178 2284 4.87 A.B. Capital 99 101 2.02
PVR 1697 1722 1.47 Lumax Auto 135 137 1.48
Kennametal 1165 1230 5.58 Spice Jet 110 152 38.18
Info Edge 1891 1930 2.06 Adani Gas 129 146 13.18
Wipro 283 289 2.12 Heidlberg Cement 174 181 4.02
Ashok Leyland 95 97 2.11 Balrampur Chini 138 146 5.8
Oberoi Realty 585 593 1.37 Infibeam 47 53 12.77
Dilip Buildcon 653 667 2.14 Cineline India 45 47 4.44
Kalpataru Power 483 495 2.48 BCL Ind. 98 100 2.04
Ajanta Pharma 1027 1040 1.27 Gufic Bio 82 90 9.76

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Financial Weekly

SMART 5th May to 11th May 2019 49


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Smart Investment
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ELðuMx{uLx
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Financial Weekly

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Editor : Dilip K. Shah

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featured herein
Financial Weekly

SMART 5th May to 11th May 2019 51


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D(en)O(f)W(ealth)
After grand success of our Website www.smartinvestment.in & Our Publications, Smart
Investment Weekly (Gujarati & English), Smart Plus News Letter & Smart Bonanza (Gujarati
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Last Recommendation Update
Stocks Date Recomm. High CMP (%)
Price After (Rs.)
Recomm. 3-5-19
Manpasand 5-3-19 86.50 130.00 107.00 30.00%
Super Crop. 8-3-19 23.00 26.50 24.75 8.00%
Jiya Eco 15-3-19 47.00 65.00 58.10 29.00%

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Financial Weekly

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