SMART PLUS News Letter

Issue No. : 47Vol. : 16 Page : 1

SMART PLUS N e w s L etter(Weekly)

Date : 26-7-2021 to 1-8-2021

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REVIEW OF “SMART PLUS NEWS LETTER” No. 46 Dt. 19-7-2021

FLASH FLASH

STOCK PICKS

Gloster 1218 1288 70 5.75

Ultratech 7331 7488 157 2.14

Gland Pharma 3958 4016 58 1.47

High Energy Batt. 2289 2782 493 21.54

D-Mart 3349 3412 63 1.88

Colgate 1746 1795 49 2.81

Navin Flurine 3891 3939 48 1.23

Coforge 4549 4686 137 3.01

STOCK WATCH

L&T Techno 3399 3495 96 2.82

ASM Techno 263 290 27 10.27

Endurance Techno 1647 1655 8 0.49

Mrs. Bector Foods 438.9 455 16.1 3.67

FUNDAMENTAL STOCKS

Sandesh Ltd. 922 942 20 2.17

Rajapalayam Mills 908 1138 230 25.33

IEX 412 443 31 7.52

Mangalam Cement 393 449 56 14.25

GSPL 337 338 1 0.30

Talbross Engg. 241 256 15 6.22

Banswara Syntex 201 206 5 2.49

Mold-Tek Packaging 491 524 33 6.72

TECHNICAL SHARES

Bajaj Finance 6126 6179 53 0.87

Wipro 577.65 599 21.35 3.70

Infosys 1555 1590 35 2.25

Divi’s Lab. 4762 4823 61 1.28

Pidilite 2245 2306 61 2.72

Tata Consumer 763 775 12 1.57

MID CAP STOCKS

JSW Energy 193 240 47 24.35

I.B. Real 142.95 170 27.05 18.92

Bombay Dyeing 102 103 1 0.98

Faze Three Autofab 103 112 9 8.74

Hindustan Tinworks 106.5 123 16.5 15.49

Ram Ratna Wire 146.15 161 14.85 10.16

Shilp Gravures 113 121 8 7.08

Mindtech India 91.65 103 11.35 12.38

SMALL CAP STOCKS

Fineotex Chemical 95 102 7 7.37

Windsor Machine 35.4 39 3.6 10.17

MK Exim 65 79 14 21.54

Prima Agro 42 51 9 21.43

Godavari Drugs 75 76 1 1.33

RDB Rasayans 86.1 92 5.9 6.85

Skipper 88 93 5 5.68



Date : 26-7-2021 to 1-8-2021

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GODAWARI POWER & ISPAT (Rs.1657): share set to double Financial Results (Year ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.4075.96 crores during the 12 months period ended March 31, 2021 as compared to Rs.3293.18 crores during the 12 months period ended March 31, 2020. The company has posted net pro t of Rs.638.39 crores for the 12 months period ended March 31, 2021 as against net pro t of Rs.166.78 crores for the 12 months period ended March 31, 2020.

The company has reported EPS of Rs.181.17 for the 12 months period ended March 31, 2021 as com-pared to Rs.47.33 for the 12 months period ended March 31, 2020.

Financial Year Year Change Ended Ended FY20-21 FY19-20 (%)Total Inocme 4075.96 3293.18 23.77%Net Pro t 638.39 166.78 282.77EPS 181.17 47.33 282.78

Following is the results for Q4 and Q3The company has reported EPS of Rs.92.79 for

the period ended March 31, 2021 as compared to Rs.45.64 for the period ended December 31, 2020.

Financial Q4 Q3 Change FY20-21 FY20-21 (%)Total Inocme 1263.67 1132.49 11.58Net Pro t 326.95 160.83 103.29EPS 92.79 45.64 103.31

GPIL thru its concall minutes indicated pellet prices to be executed at contract price of ₹15500/ton in Q1 2022 as against ₹11500/ton in Q4 2021. In Q4, turnover was ₹1260cr and in Q1 of 2022,

turnover would be ₹1600 Cr considering same pro-duction gures. Expenditure remains same Rs. 800 Cr and EBIT will be ₹800 Cr.Taxation at 25% is ₹200 Cr and net pro t would be ₹600 Cr. The EPS will be ₹175. In other words Q1 pro ts which are going to be announced on the 27th of this month will equal or exceed the entire 4 quarters of last year

Due to restricted trading GPIL is subdued. Today Goldman Sachs reiterated that iron ore prices will be at higher level at least for one or two years. GPIL is poised to move ₹400-500 in every quarter

EXCITING BONUS IN CHEMCRUX ENTERPRIS-ES (Rs.356)

The Board of directors of Chemcrux Enterprises Ltd have considered the issue and allotment of Bonus shares in the ratio of 2:1 (i.e., 2 shares for every 1 share held) subject to the approval of shareholders in the ensuing Annual General Meeting.

SAY YES TO YES BANKYes Bank’s net pro t rose by 355.2 per cent to

Rs 207 crore in the rst quarter ended June 2021 (Q1FY22) on a rise in non-interest income and a sharp dip in provisions.The bank posted net pro t of Rs 45 crore during

the same quarter last year (Q1FY21). Sequentially, the bank had booked a loss of Rs 3,788 crore in the quarter ended March 2021 (Q4FY21).

BIG BULL BUYS 5.75 CRORE SHARES OF SAILBut, on 15th July 2021, the ‘Warren Buff ett of India’

dropped surprise at Dalal Street when Steel Authority of India (SAIL) — a state-owned steel manufacturer company — announced in its shareholding pattern for April to July 2021 that Rakesh Jhunjhunwala has bought 5.75 crore SAIL shares. His latest buys also include Indiabulls Housing Finance (Rs. 260)IIFL SECURITIES RS116 Touched high of Rs119

on Fri. Expect 40 to 50% gain by December Net Sales at Rs 250.62 crore in June 2021 up 67.34%

from Rs. 149.77 crore in June 2020.Quarterly Net Pro t at Rs. 68.84 crore in June 2021

up 65.89% from Rs. 41.50 crore in June 2020.EBITDA stands at Rs. 115.18 crore in June 2021

up 46.43% from Rs. 78.66 crore in June 2020.ISL EPS has increased to Rs. 2.20 in June 2021

from Rs. 1.30 in June 2020.Shyadri VS.Visaka Ind: Normally the price of Visa-

kaRemains higher than that of Visaka. This time the results of Shyadri Ind was too good and exceeded that of Visaka. Now the Investros feel if Shyadri could perform so well Vasika whose results expected soon should be much better and can cross the 1000 mark.


mailto:[email protected]

STOCK SCANVISHAL PRAVIN BALIYA (CO-FOUNDER AT HAPPY CANDLES INVESTMENT)


MARKET OUTLOOK

Disclaimer: I and my clients have personal position in one or both mentioned stocks. I am not a SEBI authorized analyst and will not be responsible for position taken by you or profi t and loss for any individual. The purpose of sharing the views is purely educational in nature for paper trading.


Nifty this week still not able to cross the milestone of 16000. We hope winning some metals Golds / silver / Bronze in Olympics will inspire Nifty to take the leap of faith from the tussle of bears and bulls.Green lines on the down side indicate supports: 15720, 15579. Resistances on the upper side are 15918 and 15960. The direction of the blue arrow indicates the target of 16208. Let us see if bulls can hold 16000 happening for one more week? Reliance has pitched in with a good result and we hope that it can take NIFTY across 16000 next week.

SPARC SUN PHARMA ADVANCE RESEARCH COMPANY CMP 265.9

SPARC after multiple year consolidation has nally given a breakout and a great end to the week. This ensures its progress in the coming weeks. Although it may stay around this range for few days or weeks but eventually the targets will be 299 and 341 with a stop loss of 231. One of the issue many investors have with this company is high amount of stock pledges by the promoter and despite the market cap of the company being close to 7000 Crores promoter holding is high and public holding is compara-tively low. Right now the signals are that things are moving towards a trend reversal.

ACTION CONSTRUCTION EQUIPMENT:

CMP 246.1 ACE is making fantastic moves on the chart and has given aAll time high breakout. It might spend some time having done so and consolidate here or they can just keep moving forward. The price is holding beauti-fully above 225 and it is now a new support. The new break out opens the door for 275, 300 and 325 with a stop loss of 202. Financial durability of the company looks sound however some investors are concerned about valuations and PE ratio of the stock being too high, however the momentum of the stock right now is very good with good supporting volumes.

By Vijaya Kittu M, GetPaidIndia.com By Vijaya Kittu M, GetPaidIndia.com, WhatsApp: +91 98495 19188 The author feels investors need to keep an open eye on their invested stocks’ fundamentals and

technicals. He is on WhatsApp at +91 98495 191881. ARVIND FASHIONS subsidiary Arvind Lifestyle Brands made an agreement with V-Mart Retail for the strategic sale of its UNLIMITED retail brand in an all-cash deal. About 74 aff ordable fashion apparel chain stores, warehouse, and inventory is sold for about Rs. 150 crores. Arvind decided to exit from the business to focus on its six high conviction brands.

2. ASIAN PAINTS reported doubling of its pro ts and close to 91% revenue jump YoY. The stock was in the spotlight as COVID second-wave restrictions are coming down, and a potential good monsoon is on the cards. Raw material costs that escalated in Q1 are now softening. These point out a potential happy Diwali season for its investors.

3. TATA MOTORS is amongst the top bidders who are in foray for BEML. Meanwhile, Tata Altroz Electric was upgraded to run 500 kilometres on a single charge. Nexon EV range, which reported the highest sales in June 2021, was on plans for a model upgrade. TaMo announced having raised Rs. 500 crores via the issue of NCDs. Reports say that TaMo is increasing its African business coverage.

4. HERO MOTOCORP introduced the Glamour ‘XTEC’ 125cc BSVI-engine motorcycle. Hero Motocorp will fall into legal trouble and a potential setback if it uses the ‘Hero’ brand name for its electric vehicles to be launched at the end of 2021. A 2010 arrangement prohibits 2/3/4-wheelers of Hero MotoCorp from using the brand. Naveen Munjal’s Hero Electric has the right to this. The issue surfaced with Ola Electric aggressively getting ready to launch EV models soon.

5. TATA POWER and HPCL have partnered to provide end-to-end EV charging stations at HPCL’s petrol pumps in multiple cities and major highways across the country.

6. ICICI BANK announced its HPCL co-branded credit card. Last month its ICICI Bank-Amazon credit cards crossed the 2 million cards issued milestone. With HDFC Bank under RBI restrictions for credit card issues, both ICICI Bank and SBI Cards are increasing their penetration.

7. KOTAK MAHINDRA BANK signed an MoU with Indian Navy for special salary accounts for both serving and retired personnel.

8. VEDANTA has a setback after the NCLAT stayed the takeover of Videocon by Vedanta after an appeal was led against dissenting creditors – Bank of Maharashtra, and IFCL. The two lenders expressed dissatisfaction at the low valuations. The next hearing of this case will be on September 7. Vedanta has invited partnership from cement companies for its by-products.

Vol. : 16

SMART PLUSDate : 26-7-2021 to 1-8-2021 (Weekly)

Page : 8Issue No. : 47

N L

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Updates on Select Stocks

(Weekly)

BIPIN SHAH CMD - Aashka Hospital

Corporate Feature

72977 : HAPPY SMILES47018 : OPD18068 : INTENSIVE CARES4968 : SURGERIES

Gandhinagar based Aashka Hospitals will come out with SME IPO of Rs.101 crore

Mr. Bipin Shah will build 1000 bed

capacity for which he will make strategic e-up. For that there will be management contract with 35 hos-pitals across the state

in next 3 years

The importance of the healthcare sector during the Corona epidemic is well understood by everyone common citizen. And that is why work is now being done in all directions at all levels. There has been a steady and rapid eff ort to increase capacity at the government level and at the private level since the Coronation period. Aashka Hospital has also been active in increasing its capacity and for this it is soon entering the capital market through SME IPO.

Ashka Hospital is a Tertiary Care Hospital with a capacity of 200 beds in Gandhinagar. It is well known in North Gujarat. Aashka is set to raise Rs 101 crore through a small and medium enterprise (SME) IPO in the near future. Cont....

Aashka Hospitals to expand acrossthe state of Gujarat with more hospitals soon

Vol. : 16



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Aashka Hospitals has 200 bed capacity in Ter ary Care and very well known in North Gujarat region

“As part of our ex-pansion plan, Aash-ka Hospital is going to start 20-50 bed hospitals by mak-ing strategic con-nec ons in small towns of Gujarat.

Doing so will allow pa ents in these

small towns to get the best healthcare service in or near

their hometown. “

Aashka Hospitals Ltd. is the brainchild of Mr. Bipin Shah, a re-nowned visionary and currently the Chairman and Managing Director of the company. He is also a Director at Calica Construction and Impex Pvt. Ltd., a realty developer company and has undertaken several projects in Gujarat. He is a technocrat businessman with a dynamic approach. He has been instrumental in carrying out the Rs 300 crore IT SEZ project in Ahmedabad city. He has also been instrumental in carrying out two major realty projects in Gandhinagar.

Apart from big cities in Gujarat, the aim of Aashka Hospital is to pro-vide modern medical facilities to the people in small towns as well, to provide compassionate treatment to the patient and also at aff ordable cost to the people. To this end, he has brought together well-known specialist doctors and has come forward to provide medical facilities on a humanitarian basis throughout the state.

Aashka Hospitals Limited was established on November 9, 2012. After the company became a leader in Gandhinagar, it was trans-formed into a public limited company with a Fresh Certi cate of Cor-poration in 2018 under the name Aashka Hospitals Limited.

Cont....

Vol. : 16



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Equipped with state-of-the-art equipment

Today, Gujarat has become a leader in the eld of healthcare service providers across the country. Gujarat has tradition-ally been an industrial state and that is why the healthcare industry is developing just as fast here. Most tertiary care hospitals are spread across four metros in the state. Tier-2 and Tier-3 cities have good primary health services, but lack high-quality ter-tiary care facilities.

“We want to close this gap with the aim of providing the best level of healthcare services in Tier-2 and Tier-3 cities,” said Mr. Bipin Shah, Chairman and Managing Director, Aashka Hospital.

“As part of our expansion plan, we are going to start 20-50 bed hospitals in small towns of Gujarat,” he added. For this, Aashka Hospital will be affi liated with local hospitals in the city. Doing so will allow pa-tients in these small towns to have access to modern healthcare services in or near their hometown and not have to travel to large cities for better treatment. “

According to our expansion model, the doctors serving in this hospital will be available there every day and they will focus only on treatment, the rest of the

administrative and management operations will be done by Aashka Hospital.Mr. Bipin Shah is thus determined to build a capacity of 1000 beds through a strategic tie-up.

For this, management contracts will be signed with 35 hospitals in the next two years.Mr. Bipin Shah expressed confidence that the expansion plan of Aashka Hospital would

go a long way in bridging the gap in healthcare services between big and small cities of the country.

***

Vol. : 16



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Our Option Strategies

Weekly High: 15899.80 ; Weekly Low: 15578.55 ; Weekly Close: 15856.05 Nifty 50 Index close on upsidelast week bylosingapprox.67.35points.Nifty after opening on weaker note in starting of the week noticed good pullback from lower levels. Bulls are still not giving up and trying to dominate. Niftydidn’t cross previous week high and it’s still struggling to make new all time high but not giving up. Nifty can still remain in consolidation range. Buying from bottom was clearly visible.Volumes are still missing out in index which should be watchful. Stock specific small and midcap rally is still on. Global markets are still in consolidation mode. Nifty can easily gain 400 to 500 point rally if crosses last week high. Re-sult season has started so nifty can give movement in coming weeks. Nifty may give breakout above 15960 in coming days.15600 is emerging as a strong support now for nifty. Hedge your position completely as per your risk taking capacity.Nifty may remain between 15700to16100 this week.

NIFTY: VIEW (NEUTRAL)TRADE: EXPIRY 29 JULY 2021BUY 15600CE @ 180.00 1 LOTSELL 15900CE @ 55.002 LOTBUY 16200CE @ 7.00 1 LOTMAX PROFIT:6150/-MAX LOSS:3850/-BREAKEVEN: 15777 AND 16023.MARGIN REQUIREMENT: 45000 APPROX

DR.REDDY: VIEW (BULLISH)TRADE: EXPIRY 29 JULY 2021BUY5450CE @45.00 1 LOTSELL 5550CE @ 18.00 1 LOTMAX PROFIT:9125/-MAX LOSS: 3375/-BREAKEVEN: 5477.00.MARGIN REQUIREMENT: 25000APPROX

SUNPHARMA: VIEW (BULLISH)TRADE: EXPIRY 29 JULY 2021

BUY700CE @ 4.00 1 LOT

SELL 710CE @1.75 1 LOT

MAX PROFIT: 10850/-

MAX LOSS: 3150/-

BREAKEVEN: 702.25

MARGIN REQUIREMENTS: 37000APPROX

NIFTY 50 Index closed the week (as on Friday) on negative note losing 67.35 Points approx



Date : 26-7-2021 to 1-8-2021

Abhijit Mehta. CERTIFIED FINANCIAL PLANNERCM [email protected]

SENSEX & NIFTY MOVEMENT DURING THE LAST WEEK BSE-Sensex Open High Low Close Diff19-07-2021 52,606.99 52,821.17 52,405.89 52,553.40 -586.6620-07-2021 52,432.88 52,465.03 52,013.51 52,198.51 -354.8921-07-2021 Bakri Id Holiday NA22-07-2021 52,494.56 52,867.26 52,471.23 52,837.21 638.7023-07-2021 52,967.87 53,114.70 52,653.77 52,975.80 138.59 Net Weekly Loss -164.26NSE - Nifty Open High Low Close Diff19-Jul-21 15754.5 15836.9 15707.5 15752.4 -17120-Jul-21 15703.95 15728.45 15578.55 15632.1 -120.321-Jul-21 Bakri Id Holiday NA22-Jul-21 15736.6 15834.8 15726.4 15824.05 191.9523-Jul-21 15856.8 15899.8 15768.4 15856.05 32 Net Weekly Loss -67.35

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Issue No. : 47Vol. : 16 Page : 14(Weekly)

Date : 26-7-2021 to 1-8-2021

PRAKASH INDUSTRIESSCRIPT INFO: 506022/ INE603A01013 CMP : RS. 77.10

EVERGREEN STOCK INVESTOR Mr. Mahesh Nathan : Pune- Maharashtra : [email protected]

The largest contributor for the Steel demand continues to be the Construction and Infrastructure sector. The sector anticipates growth in near future, owing to Government infra-structure projects like Bharatmala, Sagarmala, Atal Mission for Rejuvenation and Urban Transformation, setting up of National Investment and Manufacturing Zone, Smart cities etc. Further, the rapid investment in the Infrastructure sector is expected to result in a growth in Capital Goods which consumes nearly 15% of the domestic Steel production.

The Automotive Mission Plan 2026 is also expected to fuel the Steel demand in auto sector, which is another major driver for steel demand in the country. The National Steel Policy (NSP) and its emphasis on Government tenders for domesti-cally manufactured steel & iron products shall also support the industry in the coming times. Last but not the least, the current low per capita steel consumption and rapid urbanization in the country shall continue to provide signifi cant potential for growth of the steel sector.

The mood in the steel industry is upbeat so far as demand growth in India is concerned as the per capita consumption of steel in India is signifi cantly low, which leaves room for growth. In India, it stands at around 78 kg compared to a global aver-age of 225 kg. Further, the National Steel Policy 2017, which has laid down a roadmap for achieving long term growth in the Indian steel industry, both on the demand and supply side, will continue to aim to increase demand of steel in the country by targeting the domestic per capita steel consumption at 160 kgs by the year 2030-31. The Government’s focus on infra-structure spending, expansion of housing and manufacturing sector, road and railway projects will also fuel the demand for steel in the country.

Prakash Industries Ltd was founded in the year 1980 with a focused vision in the core competence areas of Mining, Steel and Power. Prakash Industries Ltd. is rapidly carving its niche in the Indian steel industry, and has emerged as one of the key producers of value added steel products in the country. For highest value addition, the company has always laid emphasis on forward &backward integration. The company has stayed well aligned with economic trends and the market needs in the country, a result of which has been excellence in a diverse range of products, rapid growth, strong fi nancial foundations and a bright future outlook.

During the year 2020-21, the Company achieved Net Sales of Rs. 3216 crores as against Rs. 2974 crores in the previous year. The EBITDA for the year was Rs. 323 crores in comparison to ̀ Rs. 356 crores in the previous year. After providing for interest, depreciation and tax, the profi t after tax of the Company was Rs. 95 crores as against Rs. 118 crores in the previous year, which resulted in EPS of Rs. 5.55 in the current year.

The steel demand continued to improve in each successive quarter which helped the Company to achieve highest steel sales volume of 9.55 lakh MT during the year. The Company also added capacity in its Steel Melting Shop by commissioning two new energy effi cient Induction Furnaces. The enhanced capacity now stands at 1.25 Mn tonnes per annum. The Company’s Captive Iron Ore Mining operations at SIrkaguttu Mine, Odisha ramped up during the year. The Company achieved annual extraction of ~ 4.7 lakh MT, which has resulted in signifi cant cost savings to the Company.

The Net Sales at Rs 1,032.01 crore in March 2021 up 59.43% from Rs. 647.30 crore in March 2020. Quarterly Net Profi t at Rs. 51.66 crore in March 2021 up 185.57% from Rs. 18.09 crore in March 2020. EBITDA stands at Rs. 106.76 crore in March 2021 up 28.81% from Rs. 82.88 crore in March 2020. Prakash Industries EPS has increased to Rs. 3.00 in March 2021 from Rs. 1.05 in March 2020.

The Indian steel industry is also expected to remain buoy-ant amidst strong domestic demand recovery, accommodative government policies and export opportunities. Further, the full scale operations from the captive Iron Ore mine at Sirkaguttu, Odisha in 2020-21 is expected to help the Company to largely insulate itself against the volatility of Iron Ore prices. Furthermore, the Company had received from Chhattisgarh Government the Grant Order for Iron Ore mining lease in District : Kabirdham (Kawardha), Chhattisgarh.

Being the cash rich and debt free company with growth in net profi ts with increasing profi t margin with increase in revenue every quarter with increase in profi ts attracts the investors to make the investment in this prospective company in the long run to gain good capital appreciation. Recently our honourable prime minister shri. Narendra modi announcement on Production linked incentive scheme for speciality steel production with the approval of Rd. 6322 crores under Prime Minister Atmanirbhar initiative acts as a great booster to this stock.

SMART PLUSN L


Kalpna J (Email- [email protected])

Rapid Fire Stocks

(Ring : 97690 37711) Twi er : @Kj_TechTrades

DEEPAK NITRATEBUY AT CMP 1927 TARGETS - 2333 TO 2555 (ADD IN ALL DIPS)

Q2 CONS NET PROFIT 1.7B RUPEES VS 1.5B (YOY); EST 1.8B || Q2 CONS REVENUE 9.87B RUPEES VS 10.03B (YOY)

Deepak Nitrite Ltd., incorporated in the year 1970, is a Mid Cap company (having a market cap of Rs 3701.09 Crore) operating in Chemicals sector. Deepak Nitrite Limited is an India-based company. The Company is a manufacturer of organic, inorganic, fi ne and specialty chemicals, and is a business partner of chemical worldwide in pharmaceutical, agro, rubber, colorants and imaging chemicals. It also manufactures of xylidines and cumedines. The company has four manufacturing facilities at different locations in the western part of India -one at Nandesari in Gujarat and three at Pune, Taloja and Roha in Maharashtra. The company was incorporated in the year 1970. The Company operates in three business segments: organic intermediates, inorganic intermediates, and fi ne and specialty chemi-cals. The Organic Intermediates segment consists of nitro aromatic plants and also multi-purpose aromatic amines plant based on catalytic hydrogenation technology. The Fine and Specialty Chemical segment produces a range of effect chemicals for the needs of speciality producers. These include colour intermediates for optical brighteners. During the year the 1984-1985, the company started to manufactured 3000 TPA concentrated nitric acid and in the same year the company commissioned its hexamine plant. During the year, the company acquired 31 acres of land in village Kareli in District Bharuch. During the year 1986-1987, the company started the production of new items namely, Guanidine Nitrate and Hydroxylamine Sulphate.

CROMPTON GREAVES CONSUMER ELECTRICALS LIMITEDBUY AT CMP 472 TARGETS - 555 TO 650 (ADD IN ALL DIPS)

They are one of the leading consumer companies in India with a 75+ years old brand legacy. As of February 2016, we are an inde-pendent company under professional management and have 2 business segments – Lighting and Electrical Consumer Durables. We market our products under the “Crompton” brand name in India and select export markets.CG Power and Industrial Solutions Limited, previously known as Crompton Greaves Limited, is an Indian multinational company engaged in design, manufacturing, and marketing of products related to power generation, transmission, and distribution. It is based in Mumbai and a part of the Murugappa Group. The company was restructured in 2016 following the demerger of its consumer goods business Crompton Greaves Consumer Electricals Ltd., incorporated in the year 2015 is operating in Consumer Durables sector. Crompton Greaves Consumer Electricals Ltd. key Products/Revenue Segments include Electrical Consumer Durables, Lighting Products, Scrap, Sale of services and Export Incentives for the year ending 31-Mar-2021.For the quarter ended 30-06-2021, the company has reported a Standalone Total Income of Rs 1,070.08 Crore, down 30.63 % from last quarter Total Income of Rs 1,542.65 Crore and up 44.86 % from last year same quarter Total Income of Rs 738.68 Crore. Company has reported net profi t after tax of Rs 94.76 Crore in latest quarter.

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Issue No. : 47Vol. : 16 Page : 15Date : 26-7-2021 to 1-8-2021(Weekly)

SMART PLUSN L

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Dear Traders…. For the Trading Period on 26.07.2021 TO 30.07.2021

NIFTY FO CLOSED @ 15853 AS ON 23.07.2021

NIFTY FO Range @ 15676 TO 15909 Point In Short Term…!!!Nifty Future has resistance at 15888 – 15909 Point; above which other resistance levels are at 15919 - 15949 Point

with highly Volatile Trend, Nifty Future has Downside support levels are at 15808 – 15770 Point; below 15770 Point, other support levels are at 15707 - 15676 Point.

I am positive for the next bullish trend only above @ 15909 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 Future crosses @ 15909 Point, again then the upper side target is quite high and it may touch @ 15919 Point in the short term...!!!

BANK NIFTY FO CLOSED @ 35040 AS ON 23.07.2021

BANK NIFTY FO Range @ 34676 TO 35404 Point In Short Term…!!! Bank Nifty Future has resistance at 35188 – 35232 Point; above which other resistance levels are at 35373 -

35404 Point with highly Volatile Trend, Bank Nifty Future has Downside support levels are at 34808 – 34676 Point; below 34676 Point, other support levels are at 34606 – 34575 Point.

I am positive for the next bullish trend only above @ 35404 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 Future crosses @ 35404 Point, again then the upper side target is quite high and it may touch @ 35474 Point in the short term...!!

Golden Stocks For Trading For the date - 26.07.2021 to 30.07.20211. GRASIM IND. FO ( 1550 ) : It is suggested to Buy @ Rs 1537 with SL of Rs 1530 for the target of Rs 1563 –

1577; below Rs 1530 it can fall up to RS 1517 – 1503 levels. If it crosses Rs 1577 level than expect nonstop rally up to Rs 1590....!!

2. LUPIN LTD FO ( 1175 ) : Trading point of view Buy @ Rs 1160 With SL of Rs 1144 for the target of Rs 1188 – 1203 level below Rs 1144 It can show further downfall up to Rs 1140..!!!

3. ADANI PORT FO ( 676 ) : Buy @ Rs 663 levels considering minor support of Rs 656 and stop loss of Rs 650 for an upper target of Rs 696 – 707 levels. Below Rs 650 it can slip up to RS 644 – 640 levels…!!!

4. TVS MOTOR FO ( 581 ) : Buy @ Rs 573 levels considering minor support of Rs 567 and stop loss of Rs 560 for an upper target of Rs 593– 603 levels. Below Rs 560 it can slip up to RS 553 – 547 levels…!!!

5. LARSEN LTD FO ( 1600 ) : It is suggested to Sell with SL Rs 1633 for the target of Rs 1588 – 1573 below @ Rs 1573 it can slip up to Rs 1566 – 1560 level. Above Rs 1633 level will take the stock to Rs 1640 – 1656…!!!

6. HCL TECHNO. FO ( 987 ) : It is suggested to Sell @ Rs 1008 with SL of Rs 1013 for the target of Rs 970 – 963; below Rs 963 it can fall up to RS 955 – 947 levels. If it crosses Rs 1013 level than expect nonstop rally up to Rs 1022..!!

7. M & M FO ( 764 ) : It is suggested to Sell with SL Rs 777 for the target of Rs 757 – 750 below @ Rs 750 it can slip up to Rs 744 – 737 level. Above Rs 777 level will take the stock to Rs 783 – 790...!!!

8. WIPRO LTD FO ( 597 ) : It is suggested to Sell @ Rs 606 with SL of Rs 613 for the target of Rs 586 – 580 below Rs 580 it can fall up to RS 573 – 567 levels. If it crosses Rs 613 level than expect nonstop rally up to Rs 620....!!

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https://www.nikhilbhatt.in

Issue No. : 47Vol. : 16 Page :17Date : 26-7-2021 to 1-8-2021

Arunkumar : [email protected] WEEK TRADING STRATEGY. NEXT WEEK 26 JULY TO 31 JULY. TRADING STRAT-

LAST WEEK PERFORMANCE UPDATE.. Our Target done in SBI 421, sell at 431 Our Target done in COFORGE 4480, sell at 4540 Our Target done in ITC 211, Buy at 205 Our Target done in INDUS BK 1010, sell at 1045 NIFTY & BANKNIFY also achive our Target Delivery both cal IEX and Maninfra given superb returnINDEX Buy NIFTY Fut Above 15840 TGT 16020-16150 SL 15700 Sell NIFTY Fut Below 15700 TGT 15580-15480 SL 15840 Buy BANKNIFTY Fut Above 35000 TGT 35380-35600 SL 34720 Sell BANK NIFTY Fut Below 34750 TGT 34450-34300 SL 35020FUTURE Sell MINDTREE Fut Below 2730 TGT 2698-2670 SL 2755 Buy BPCL Fut Above 460 TGT 472-480 SL 650 Sell ULRATECH Fut Below 7500 TGT 7420-7360 SL 7560 Buy RBLBK Fut Below 203 TGT 208-211 SL 199 DELIVERY CALL Buy THOMAS COOK Near 59 TGT 67-71 SL 54 Buy PNB Near 40 TGT 43.50-45 SL 37.50

Markets have reached to the life me highlevels & many stocks have reached in overbought

zone & profi t booking will be witnessed. In coming days only selec ve stocks will run the bull rally.

If you want to know which selec ve stocks will run the rally going ahead ? Join Equity 99 Telegram Channel

h ps://t.me/equity99

(Weekly)SMART PLUS

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RISE THROUGH VALUEBUYING IN COMING DAYSSMALLCAP SHARES MAY GIVE SOLID RISE…

# HOT WEEKLY STOCK FUTURES:1) SUN PHARMA (695.40): RS. 682 STOPLOSS… IT MAY TOUCH 711 TO 729…

2) LUPIN (1176.60): RS. 1160 STOPLOSS… IT MAY TOUCH 1206 TO 1242…

3) JSW STEEL (718.50): RS. 702 STOPLOSS… IT MAY TOUCH 729 TO 738…

4) AURBINDO (963.80): RS. 955 STOPLOSS… IT MAY TOUCH 981 TO 990…

5) RELIANCE (2104.60): RS. 2090 STOPLOSS… IT MAY TOUCH 2133 TO 2160…

6) HDFC BANK (1145.50): RS. 1127 STOPLOSS… IT MAY TOUCH 1179 TO 1197…

7) TATA MOTORS (295.45): RS. 288 STOPLOSS… IT MAY TOUCH 306 TO 315…

8) ZEE (205.85): RS. 199 STOPLOSS… IT MAY TOUCH 216 TO 225…

9) INDUS IND BANK (991.70): RS. 975 STOPLOSS… IT MAY TOUCH 1017 TO 1035…

10) M&M (764.25): RS. 752 STOPLOSS… IT MAY TOUCH 792 TO 828…

11) LIC (454.90): RS. 451 STOPLOSS… IT MAY TOUCH 477 TO 504…

# HOT DELIVERY BASED SHORT TERM STOCK :1) CPL (536974) (35): RS. 32 SL… THROUGH SOLID RISE WE MAY SEE 39 TO 45…

2) GG ENGG (540614) (26.20): RS. 23 SL… ROCKET LIKE MOVEMENT UPTO 30 TO 33…

3) VISHWARAJ SUGAR (149.95): RS. 141 SL…. BIG UPSIDE SOON UPTO 171 TO 189…DISCLAIMER: THIS IS FOR EDUCATIONAL PURPOSE & AUTHOR’S PERSONAL VIEW,TAKE INVESMENT DECISION AT YOUR END.

Paras K.Ghelani (PG), Research AnalystBAAJ NAJRE

Issue No. : 47Vol. : 16 Page :18Date : 26-7-2021 to 1-8-2021(Weekly)

SMART PLUSN L

FII & DII Activity from 19-7-2021 to 23-7-2021

FII Activity DII ActivityDate BuyValue SellValue NetValue

19-07-21 6366.78 8565.49 -2198.7120-07-21 4276.7 7111.66 -2834.9621-07-21 Holiday 22-07-21 8329.28 8576.87 -247.5923-07-21 7663.49 7826.8 -163.31TOTAL 26636.25 32080.82 -5444.57

Date BuyValue SellValue NetValue

19-07-21 5913.3 4865.64 1047.6620-07-21 5675.86 4802.72 873.1421-07-21 Holiday 22-07-21 6386.46 5443.91 942.5523-07-21 7415.99 5228.19 2187.8TOTAL 25391.61 20340.46 5051.15

TRINITY STOCKSVAIBHAV SHINKAR (VADODARA)

Invest in these stocks for time frame of 1-5 weeks. These are technically strong stocks based on technical indicators like RSI, ADX and Bollinger Bands.

THIS WEEK’S RECOMMENDATIONSTOCK RECOMMENDED RATE TARGET STOP LOSSHDFC BANK 1442.75 1480 1420BHARTI AIRTEL 548.30 575 530TCS 3212.85 3300 3180

LAST WEEK’S RECOMMENDATIONStock Recommended Rate Weekly High Returns in Last WeekPNC Infra 317.1 329 3.8%Tarmat 78.35 98.1 25.5%%Sutlej Textile 74.5 81 8.72%

Disclaimer-The analyst is not a SEBI registered analyst. Views expressed here are only for educational purpose. Please consult your fi nancial advisor before taking any investing decision.

Issue No. : 47Vol. : 16 Page :19Date : 26-7-2021 to 1-8-2021(Weekly)

SMART PLUSN L

BETWEEN THE LINESRAVI B GUPTA (SEBI REGISTERD RESEARCH ANALYST)

We had seen a sharp correction from top resistance in market in both Nifty and BankNifty. As compared to nifty, BankNifty corrected more, and after one holiday market bounced back from weekly support, And again Nifty trading near its weekly Resistance. As provided in last weeks article 3 out of 4 recommendation were gome perfect and position converted in to good profi t. ICICIPRULI has taken its 3rd target too. By analysing last weeks data it seem like BankNifty recovered on the back of short covering. There is lack of fresh buying on higher range. Traders as well as Investors are fearing to entre a fresh due to low VIX and parliamentary changes in policies. But for the next week I have studied some data and charts which may help all of us to earn profi t with proper hedging. (1) BANKNIFTY : Buy 35500CE around 100 Rs (29/07/2021) Sell 35500 CE around 300 Rs (05/08/2021) Maximum Capital require 50000 Rs Maximum loss 2500 * Maximum profi t 5000 Make this position in a way that you can receive 200 points net premium. (2) AUROPHARMA : From last 2 weeks all pharma stocks are consolidating in a narrow range. Only selected stocks have moved up

on the back of vaccination news. If this stocks starts moving above 983 and closed above 988 then target will be 1000, 1020 and 1050 within a week. On the opposite side if this stock breaks 960 levels then we can see 935 and 905 levels too.

(3) ULTRACEMCO : All the cement stocks rallied 15 to 20% in last 1.5 months and having strong fundamentals too. But observing daily chart and options data, this rally may take a pause here. Buy 7500 PE near 60 stoploss will be 0 and target aiming at 200,280 and 400 within a week frame.

(4) SBIN : This stock return from 415 by taking support and having stong volume near resistance shows that it ready to move towards 436 442 and 450 targets, currently traded at 429 levels. SL for long position is 420 Rs. Call premiums are higher than usual because of result seasons and monthly expiry.



Date : 26-7-2021 to 1-8-2021

Fundamental StocksStock WatchUltratech Cement 7490.00Tata Metalicks 1262.00Atul Ltd. 9254.00Coromandal INt. 868.00Tata Consumer 725.00IRCTC 2325.00Britannia 3430.00Apollo Pipes 1161.00MFSL 1081.00Colgate 1795.00Pidilite 2306.00Alkaly Amines 4025.00Page Ind. 33376.00

Stock PicksTata Coff ee 208.00Intellect Design 853.00Finolex Cable 526.00Apr Ind. 613.00Zensar Techno 376.00Aptech 240.00Mahindra Life 721.00Guj. Gas 730.00Godrej Consumer 960.00Arvind Fashion 197.00Bajaj Ele. 1122.00Tata Moors 295.00Godrej Properties 1562.00

BPCL 461.00HDFC Bank 1443.00Infosys 1590.00Pennar Ind. 38.00Cyient 1000.00HDFC Life 665.00Ambuja Cement 402.00Wipro 599.00Apollo Hospital 3919.00L&T 1611.00Mastek 2716.00ICICI Bank 676.00Dabur India 587.00

Technical Shares

EID Parry 412.00Havells India 1144.00Ramco Cement 1095.00Info Edge 4841.00Guj. Flouro 1572.00SRF 7902.00L&T Info 4360.00Persistant Sys. 3039.00ACC 2338.00Voltas 1045.00Jubilant Food 3569.00Sehaeffl er 6568.00Abbott India 17815.00

Mirza Intl. 63.00Godavari Drugs 77.00Mukand 136.00JK Tyre 142.00Sail 126.00Balaji Tele 72.00Guj. Ambuja Export 185.00GIPCL 98.00Rico Auto 56.00UFO 103.00Max Venture 89.00Usha Martin 68.00Adani Power 100.00Pennar Ind. 38.00

Kanpur Plast 271.00Ajanta Soya 108.00JSW Energy 240.00Burger King 178.00Hind. Copper 144.00I.B. Real 170.00Manappurm Fin. 195.00Asian Granito 179.00Jayshree Tea 122.00REC 152.00Asian Hotel 208.00Reliance Chemotex 151.00Tamilnadu Petro 134.00

Mid Cap Stocks Small Cap StocksAdani Enter. 1403.00Hero Moto 2835.00Biocon 398.00Adani Port 680.00Apollo Tyre 226.00HUL 2358.00SBI 429.00Tata Steel 1280.00Grasim 1550.00Ibibeam 45.00IIFL Wealth 1317.00CIPLA 950.00

Sell Stocks

All recommendation provided by Dilip K. Shah. He has not brought / sold any stock advised in this news paper during last one month 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

Markets likely to open fl at to negative note on MondayOverall markets to remain highly volatile due to F&O expiry week

Result related stocks to remain in focus asmore than 400 corporate results to announce this week

This week all eyes on...July 26 : Q1FY22 Results : Axis Bank, SBI Life, Kotak Bank, L&T, M&M Fin., Navin Flourine, Tata MotorsJuly 27 : Q1FY22 Results : Can Bank, Dalmia Bharat, Dr. Reddy, Granules India, Indusind Bank, IndiGo,July 28 : Q1FY22 Results : Coforge, MGL, Maruti, Nestle, PFIZER, UBL, SRFJuly 29 : Q1FY22 Results : Ajanta Pharma, Concor, Deepak Nitirte, PVR, LIC Housing Fin. & July F&O ExpiryJuly 30 : Q1FY22 Results : Bandhan Bank, Britannia, Chola Invest, IOCL, Lalpath, UPL, Marico, Sun Pharma

Vol. : 16 Date : 26-7-2021 to 1-8-2021 (Weekly)Page : 21

Issue No. : 47

(Weekly)SMART PLUS

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Cont...

IPOs Off er Price Premium Kostak Price Subject to

Name (Rs.) (Rs.) *Min. Appl. Sauda

Tatva Chintan 1073-1083 1020 to 1025 350 8000 to 8200

Glenmark Life 695 to 720 120 (Seller) 300 to 350 2000 to 2200

Rolex Rings -- 550 to 560 -- --

Don’t subscribe IPO only on the basis of Grey premium. Before Investing check the fundamentals of IPOs

Grey Markets Premium

Primary Market -DilipK. Shah

Amid Corona pandemic, the Indian Share Markets have scaled new pics with be er performance

To reap the benefi t of the bullish wave in the secondary market, a number of companies may raise huge funds through IPOs

Earlier in 2017, Rs. 75,000 crore were raised: in 2021 ll now Rs. 51000 crore have been raised

Taking into considera on Rs. 60,000 crore IPOs in pipeline, the total fund raised may cross Rs. 1 lakh crore in next fi ve months

Tatva Chintan IPO got 180 mes subscrip on: If allotment is done consider it as a lo eryThis week one more mainboard IPO and Three SME IPOs to enter the market

Glenmark Life ‘ IPO with price band of Rs. 695 to Rs. 720 to enter the market on July 27Zomato got listed with 52% premiums, Clean Sciences with 95% and GR Infra with 105% premiums

BSE SME IPO of Gretex Corp with fi xed price of Rs. 170 to enter on July 27 and exit on July 30NSE SME IPO of Rex Piepes and Network Peopls to open on July 28 and close on August 2

Rajkot based Rolex Rings plans Rs. 700 crore IPO with off er price of Rs. 970

- How much subscrip on will Glenmark Life Sciences get? How and when will be refund, allotment and lis ng?

- In last 1 year total 34 IPOs got listed : Out of 10 companies 09 are being traded in green- What next a er lis ng of Zomato, Clean Sciences and GR Infra?- BSE SME IPO of AA Plus Tradelink got listed in discount- Piramal’s NCDs issue closed: IIFL Home’s NCDs issue will close on July 28

Vol. : 16 Date : 26-7-2021 to 1-8-2021 (Weekly)Page : 22

Issue No. : 47

(Weekly)SMART PLUS

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36%Long Term

Sr Company Issue Open Dt. Issue size Off er price Min. Lis ng Lead Manager Issue Close Dt. (Rs. Cr.) (Rs.) App.

1. Glenmark 27-7-2021 Fresh Issue : Rs.1060 Cr. 695 to 720 20 Shares BSE BoA Merrill Lynch, BOB Capital,

Life 29-7-2021 OFS : Rs. 453.60 Cr. (F.V. Rs. 2) (Rs.14,400) NSE DAM Capital, Goldman Sachs,

Sciences Total : Rs. 1513.60 Cr. Kotak Mah., SBI Capital

2. Rolex 28-7-2021 Fresh Issue : Rs.70 Cr. -- BSE Equirus Capital Pvt. Ltd.

Rings 30-7-2021 OFS : 65,00,000 Eq. (F.V. Rs. 10) NSE IDBI Capital, J.M. Financial

Main - line IPO (Non SME)Ra ng Remark(Out of 50)

N.A.

BSE SME IPOSr Company Open Dt. Issue size Off er price Minimum Lead Rating Remark

Close Dt. (Rs. Cr.) (Rs.) Applications Size Manager (Out of 50%) %

1. Gretex 27-7-2021 3,01,600 Eq. 170 800 Eq. Shares Aryaman

Corporate 30-7-2021 (Rs. 5.13 Cr.) (Rs. 1,36,000) Financial

28%AVOID

NSE SME IPOSr Company Open Dt. Issue size Off er price Minimum Lead Rating Remark

Close Dt. (Rs. Cr.) (Rs.) Applications Size Manager (Out of 50%) %

1. Network 28-7-2021 17,12,000 Eq. 76 to 80 1600 Eq. Shares BOI Merchant

People 2-8-2021 (Rs. 13.70 Cr.) (Rs. 1,28,000) Holani Conslt.

2. Rex 28-7-2021 24,00,000 Eq. 26 4000 Eq. Shares Navigant

Pipes 2-8-2021 (Rs. 6.24 Cr.) (Rs. 1,04,000) Corporate

30%WAIT FOR LISTING

NEXT WEEK

Co. Name BSE Lis ng Off er Lis ng Lis ng Lis ng Lis ng CMP Code Date Price Price Day Day Day (Rs.) (Rs.) High Low Close 23-7-21Zomato Limited 543320 23-07-21 76 115 138 114 125.85 125.85AA Plus Tradelink 543319 21-07-21 18 17.5 17.5 17.5 17.5 16.65Clean Science and Tech. 543318 19-07-21 900 1784.4 1784.4 1555 1585.2 1634.25G R Infraprojects 543317 19-07-21 837 1700 1838.8 1550 1746.8 1730.55

Lis ng Informa on of BSE SME & Main Line IPOs

Subscription gure of Tatva Chintan Main Line IPO

No. Shares Issue Subscribed (x) Off ered/ 16-7-21 19-7-21 20-7-21 ReservedQIB 9,31,966 0.50x 1.97x 185.23xNII 6,98,975 1.14x 12.21x 512.22xRetail 16,30,941 8.24x 23.74x 35.35xTotal 32,61,882 4.51x 15.05x 180.36x

Tenta ve Timetable for Various IPOs Tatva Glenmark Rolex Gretex Network Chintan LIfe Rings Corporate PeopleIssue closes on 20-7-21 29-7-21 30-7-21 30-7-21 2-8-21Finaliza on of Basis of Allotment 26-7-21 3-8-21 4-8-21 4-8-21 5-8-21Refunds 27-7-21 4-8-21 5-8-21 5-8-21 6-8-21Credit of Equity Shares 28-7-2021 5-8-2021 6-8-21 6-8-21 6-8-21Lis ng 29-7-2021 6-8-2021 9-8-21 9-8-21 10-8-21

Primary Market’s data from last 7 YearsYear IPO Fund FPO Fund Total Raise Raise Funda (Rs. Cr.) (Rs. Cr.) Raise2015 21 13513 - - 135132016 26 26501 - - 265012017 38 75279 - - 752792018 24 31731 - - 317312019 16 12687 1 4750 174372020 15 26628 2 19500 461282021* 26 39811 3 11535 51346



Gujarat based IT companyNaapbooks Ltd. Coming up with IPO on BSE Startup pla orm

Naapbooks a Gujarat based pro table startup company has led its draft prospectus on BSE startup platform to launch IPO. This IPO may open in first week of August. The company provides services like Fintech applications, Embedded (IOT) applications and Cloud implementation. Currently company has 15+ products, 500+ clients and 100+ projects in its hands.

Grey Market MovementGrey Market witness hustle bustle due to long queue of IPO in the primary marketTatva Chintan premiums sky rocketed to double compared to off er price

Glenmark Life Sciences premiums are under pressure and are in seller circuit Grey Market players ac ve in Rolex Rings IPO even before announcement

As the companies have queued up in the primary market with IPOs, the grey market is witnessing hustle bustle.

Tatva Chintan :- The premiums are around Rs. 1020/1025, which are closer to the offer price. In short, the premiums are around 85/90% of the off er price since beginning. The interest rates are 350 and subject to rates are Rs. 8200.

Glenmark Life Sciences :- The premiums were Rs. 300 at one point but went down to Rs.120 and are now around seller’s 120. Interest rates are 250-300 and subject to rates are 2000/2200.

Rolex Rings :- There is no official announcement regarding opening of the issue yet. Still the grey market players have become active in this issue and huge deals are taking place. The premiums started around Rs. 400 and went up to Rs. 580 and are now around Rs. 550-560. There is no deal in interest rates or subject to rates. As the company belongs to Rajkot, the grey market may witness high volatility in premiums.

Subscription gure of IIFL Home Finance NCDs

Category No. of Bond Issue Off ered/ Subscribed Reserved 23-7-21Category I 1,00,000 0.12xCategory II 1,00,000 10.69xCategory III 4,00,000 5.32xCategory IV 4,00,000 9.04xTotal (Base Issue) 10,00,000 6.83x

Sr Company Issue Open Bond size F.Value Min. Listing Rating Recomm. Issue Close (Rs. Cr.) (Rs.) App.

6-7-2021 Base Size Rs.100 Cr. 1,000/- 10 NCDs BSE 1. IIFL 28-7-2021 with an option to Retain (Rs.10,000) NSE Crisil AA/Stable Home Oversubscription up to Lead manager : BWR AA+/Negative Finance Rs. 900 Cr. Equirus Capital Pvt. Ltd. (Aggregating up to Rs. Trust Investment Advisors 1000 Cr.)

Non Convertible Debenture (NCD) Issues at a Glance

RISKY

Subscription gure of Piramal Capital Housing Fin.

Category No. of Bond Issue Issue Closed on Off ered/ Subscribed19-7-21 Reserved 19-7-21Ins tu onal 2,00,000 0.00xNon Inst. 2,00,000 1.27xHNI 8,00,000 6.46xRetail 8,00,000 3.72xTotal (Base Issue) 20,00,000 4.20x

Bumper returns from IPO in last 5 years

Co. Name Off er Lis ng Current Price Price PriceAvenue Super 299 604.40 3412CDSL 149 250 1355Happiest 166 351 1395IRCTC 320 644 2325Route Mob. 350 708 2137



Par culars (Rs. Cr.) FY 19 FY 20 FY 21Total Revenue 886.87 1549.30 1885.98Pro t After Tax 195.59 313.10 351.58EPS 24.64 29.04 32.61RONW (%) 99.25 77.94 46.71

Financial Performance : Consolidated Basis

Glenmark Life Sciences Main Line IPOOpens on 27th July & Closes on 29th July, 2021

Off er price Rs. 695 to 720; Lis ng on BSE NSE Pla ormIt’s a part of Glen mark group & Manufactures specialized products

On Valua on front off er is fully priced compared to peersConsidering proven track record of strong fi nancial performance

Investors may subscribe for long term prospec ve in the IPOIncorporated in 2011, Glenmark Life Sciences is the leading manu-

facturer of Active Pharmaceutical Ingredients (APIs). The company develops, manufactures, and supplies high-quality APIs for cardio-vascular disease (CVS), central nervous system disease (CNS), pain management, and diabetes, gastrointestinal disorders, anti-infective,

and other therapeutic areas. It further operates in Contract Development and manufacturing operations (CDMO) to off er services to specialty Pharmaceutical companies. Its products are being sold in India and also exported to multiple countries i.e. Europe, North America, Latin America, Japan, etc. Currently, it has 4 manufacturing facilities at Ankleshwar and Dahej in Gujarat and Mohol and Kurkumbh in Maharashtra State with an aggregate annual installed capacity of 725.8 KL as of December 31, 2020.Issue Details • Issue Opens on 27th July & Closes on 29th July• Object of the issue : Payment of outstanding purchase consideration to the promoter for the spin-off of the API business

from the promoter into the company. Finance capital expenditure requirements and meet general corporate purposes• Issue Sie : Fresh Issue Rs. 1060 Cr., OFs : 63,00,000 Eq. Shares, Total Size : Rs. 1513.60 Cr.• Off er Price Rs. 695 to 720 per Eq. Shares • Minimum Lot Size : 20 Shares • Listing on BSE and NSE Platform• BRLM : BoA Merrill Lynch, BOB Capital Markets, DAM Capital Advisors, Goldman Sachs, Kotak Mahindra Capital

Company Limited, SBI Capital Markets Limited • Registrar : KFintech Pvt. Ltd. • Company management : Glenmark Pharma Ltd.• Pre Issue Promoter Holding : 100% • Post Issue promote Holding : 82.84%• Issue constitutes 17.16% of the post issue paid up capital• Average of last 3 Yrs. EPS Rs. 30.09 & RONW : 65.88%• Pre IPO Equity Capital Rs. : 21.56 Cr. • Post IPO Equity Capital Rs. 24.51 Cr.• Pre IPO P/BV Ratio : 10.31 (NAV : 69.82) (31-3-21) • Post Issue : P/BV Ratio : 4.87 (NAV : 147.95)• Post IPO asking P/E on fully diluted equity : 51.30• BRLM’s Performance : This is 28 Issue from BRLM in last 3 years. In Last 27 listing : 19 Issue Opened with premium

price & 8 Issue opened with Discount.

OTHER SIDE OF THE COIN• Average cost of acquisition of equity shares held by the promoter selling shareholders is Rs. 0.14 per equity shares and off er price at upper price is Rs. 720 per equity share.

• It has issued bonus shares in the ratio of 10:1 in April 2021 before lling DRHP in Sebi.• The face value of equity shares is Rs. 2 so if it is converted in to face value of Rs. 10, then off er will be Rs. 3475

to Rs. 3600 per share.• There is a big fall (around 50%) in RONW in FY 19 RONW was 99.25% which came down to 46.71% in FY21.• It requires signi cation working capital.• Company does not own brand name trademark & logo is also registered in the name of promoters.• Its manufacturing facilities, R&D facilities, registered offi ce & corporate offi ce is on lease hold land.

Recommendation : On valuation front offer is fully priced compared to peers like laurus labs. Shilpa Medicare, Aarti Drugs and Solara active pharma. However considering good track record of financial performance with strong profitability margin, R&D infra, Specialized APIS products & expansion plans , investors may subscribe for long term prospective in this IPO

Par culars (Rs. Cr.) FY 19 FY 20 FY 21Total Revenue 3.15 1.45 3.25Pro t After Tax 0.25 -1.15 0.71EPS 3.84 -24.49 7.44RONW (%) 4.70 -42.86 9.80


Gretex Corporate Services BSE SME IPOOpens on 27th July & Closes on 30th July, 2021

Off er price Rs. 170; Lis ng on BSE SME Pla ormThere is setback in FY20 & inconsistency in its fi nancial performance

On Valua on front off er price is expensive compared to peerInvestor may avoid this IPO which is s ll in ‘RED’ even a er surprising jump in FY21

Incorporated in 2008, Gretex Corporate Services Ltd is a financial and consultancy service provider in India. It is a SEBI registered merchant banker that key business activities include fund raising management activities, investment advisory, underwriting of issues, corporate advisory services, and more. Initially, the company has

started its business as a project nance service provider through banks and nancial institutions but over the period, it has expanded its product portfolio and presently, off ers services in diff erent areas i.e. capital markets, corporate nance, debt syndication, corporate restructuring, and compliance advisory.Issue Details • Issue Opens on 27th July & Closes on 30th July• Object : Working Capital requirment, Deposits for offi ce space.• Issue Sie : Fresh Issue Rs. 4.04 Cr., OFS : Rs. 1.09 Cr, Issue Size : 3,01,600 Eq. Shares (Rs. 5.13 Cr.)• Off er Price : Rs. 170 Per Equity Shares • Minimum Lot Size : 800 Shares • Listing on BSE SME Platform• BRLM : Aryaman Financial Services limited • Market Maker : Intellect Stock Broking Ltd.• Registrar : Bighsare Services Pvt. Ltd.• Company Management : Mr. Arvind Harlalka, Mr. Alok Harlalka and M/s. Bonanza Agency LLP• Pre Issue Promoter Holding : 100% • Post Issue promote Holding : 73.48%• Issue constitutes 26.52% of the post issue paid up capital• Average of last 3 Yrs. EPS Rs. -3.80% & RONW : -8.60%• Pre IPO Equity Capital Rs. : 0.90 Cr. • Post IPO Equity Capital Rs. 1.14 Cr.• Pre IPO P/BV Ratio : 2.44 (NAV Rs. 69.78) • Post Issue P/BV Ratiol : 1.87 (NAV Rs. 90.72)• Pre IPO P/E Ratio : Negative • Post IPO asking P/E of fully diluted Equity : 28.10 • Industry Peer group PE Ratio : 22• BRLM’s Performance : This is 14th Issue from BRLM in last 3 years. In Last 10 listing : 9 Issue Opened with

premium price & 1 Issue opened with Discount.

OTHER SIDE OF THE COIN• The average cost of acquisition per equity share to promoter is Rs. 6.06 & Rs. 33.33 and selling shareholder Bonanza Agency LLP is Rs. 93.55 and off er price is Rs. 170 per share.

• Apart from initial equity issue at par, company has raised further equity in the price range of Rs. 82 to 100 per share between March 2009 and July 2020

• It has also issued bonus shares in the ratio of 2:1 in July 2013• The company is engaged in highly competitive segment.• There is a setback in FY20 and due huge loss it is not in black even made pro t in FY21• Due to tiny equity capital, it will take longer duration to migrate is the main board.• Sudden jump in Top & Bottom line of FY21 is surprising.• Last three years average EPS & RONW is negative but NAV is positive and that is because of heavy pre-

mium collections for the issue of equity share to built up NAVRecommendation : There is inconsistency in financial performance & there is a Set-

back in FY20. FY 21 results are surprising & even though company is RED. On valuation front IPO is very expensive compared to peers. Investors may avoid this IPO



Network People Services TechnologiesIssue Opens on 28th July & Closes on 2nd August, 2021Price Band Rs. 76 to 80; Lis ng on NSE SME Pla orm

It has an inconsistent & poor fi nancial track recordOn valua on front issue is expensive & aggressively priced

Considering these parameters there is no harm in Skipping this Off erIncorporated in 2013, Network People Services Technologies (NPST) is a banking technology

service provider that offers software and mobility solutions to the banking and finance sector. The company offers digital transformation solutions i.e. IMPS, Digital Wallet, UPI, and other smart art solutions. The company further offers software designing, consulting, development, and manpower provisioning services. “TimePay” is its agship application to enable users to create a digital ecosystem for the cashless economy. For instance, TimePay digital platform provides digital payment solutions i.e. UPI, mandate solutions, QR-based payments, etc. TimePay society is a platform that provides comprehensive solutions to manage society relations, accounting, security, user merchants, vendor relations, and more. TimePay digital merchant is a platform for offline merchants to grow and scale their business using technology.

Par culars (Rs. Cr.) FY 19 FY 20 FY 21Total Revenue 17.99 15.19 15.34Pro t After Tax 1.34 1.04 1.06EPS 3.00 2.31 2.35RONW (%) 29.30 18.45 15.81


Issue Details • Issue Opens on 28th July & Closes on 2nd August 2021• Object : Develop mobile application in the name of “TimePay”,

Acquire IT hardware and equipments. • Issue Size : 17,12,000 Eq. Shares (Rs. : 13.70 Cr.)• Off er Price : Rs. 76 to 80 Per Equity Shares• Minimum Lot Size : 1600 Shares • Listing on NSE SME Platform • BRLM : BOI Merchant, Holani

Consultants• Registrar : Link Intime (I) Pvt. Ltd. • Management : Deepak Chand Thakur, Ashish Agarwal, and

Savita Vashist• Pre Issue Promoter Holding : 91.90% • Average of last 3 Yrs. EPS Rs. 2.445% & RONW : 18.94%• Pre IPO P/BV Ratio : 5.37 (NAV Rs. 14.89) • Pre IPO P/E Ratio : 34

OTHER SIDE OF THE COIN• The average cost of per equity shares to the promoters is only 0.0725 & 1.9817. Offer price is Rs.

76 to 80• Company has issued 35 Lakh bonus shares in the ratio of 3.5:1 during the last one year.• Company retail on limited number of suppliers.• Majority portions of revenue depend on few clients.• Limited operation history.• Registered & corporate offi ces are not owned by the company.• Its nancial performance shows languishing trend at PE of 35 & P/BV of 5.37, the issue is aggres-

sively priced.

Recommendation : It has poor financial track record. On valuation front con-sider PE of 35 & P/BV of 5.37 offer price is very expensive. There is no harm in skipping this IPO.



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