Smart Investment English Issue No. 13

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

VOL : 13 • Issue No: 13 RNI No : GUJENG / 2008 / 24320 10th May 2020 to 16th May 2020
FII Activity (Rs. in Cr.)

Date Buy Value Sell Value Net Value
04-05-20 5482.19 6856.17 -1373.98
05-05-20 3699.65 4759.04 -1059.39
06-05-20 4544.82 5038.5 -493.68
07-05-20 23369.82 4313.33 19056.49
08-05-20 6091.97 4367.26 1724.71
TOTAL 43188.45 25334.3 17854.15
DII Activity (Rs. in Cr.)
Date Buy Value Sell Value Net Value
04-05-20 3756.63 5418.24 -1661.61
05-05-20 3351.43 4346.73 -995.3
06-05-20 3811.57 3489.1 322.47
07-05-20 7050.9 3232.49 3818.41
08-05-20 3416.61 4919.75 -1503.14
TOTAL 21387.14 21406.31 -19.17
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May 2020 4
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Performance of last
3 weeks Recommendation
Sr. Stocks Reco. Reco. High After Gain
Price Target Reco. (%)
M&M FIN 163 181-185 191.8 18%
J K CEMENT 970 1075-1100 1178 21%
PRAJ IND 62 67-72 71.8 16%
STERLITE TECHNO 70 82-88 95.4 36%
BAJAJ FIN 2450 2550-2650 2566 5%
ADANI POWER 30.25 33.75-36 35.5 17%
SBI 192 205-212 Stop loss -4%
MANAPPURAM FIN 108.75 122-125 Stop loss -8%
EID PARRY 147.5 165-175 169 15%
LAURUS LAB 423 445-460 513 21%
ALEMBIC PHARMA 630 685-700 801 27%
BAJAJFINSERV 4730 5150-5300 Stop loss -4%
A B CAPITAL 49.25 55-56 52 5.5%
ENDURANCE TECH 615 650-675-700 684 11%
NAVKAR CORP 22.5 27-30 25.8 14.6%
APOLLO MICRO 70 85-95 87.45 25%
Contact : (M) 9825006980 & 9979330348

smartinvest25@gmail.com , smartinvest25@yaoo.in
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Financial Weekly
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May 2020 5
Jatin Sanghavi
Market Scan (Mumbai)
(M) 098205 26455
jatinsanghavi100@yahoo.com
BEARISH ISLAND REVERSAL

STALLS THE PULL-BACK
OSCILLATING BETWEEN 20DMA & 50DMA :- As expected the Pull-Back
seems to have been completed at the Nifty level of 9889, which translates into a humungous
rise of almost 2400 points. Bearish Island formation this week not only signalled a Bearish
Reversal in the immediate timeframe but also indicated a completion of the Pull-Back. Bear-
ish Island can get negated only if Nifty closes above 9889, the probability of which remains
low. The Nifty immediately retraced after testing the 50dma and took Support at the 20dma
for better part of the past week. A break of 20dma can take the Nifty down to test the
Retracement Supports at 8980-8700-8419.
TECHNICALLY SPEAKING :- Sensex opened the week at 32748, made a high of
32748, low of 31158 and closed the week at 31642. Thus it closed the week with a loss of
2075 points. At the same time the Nifty opened the week at 9533, made a high of 9533, low of
9116 and closed the week at 9251. Thus the Nifty closed the week with a loss of 608 points.
On the daily charts, both the indices have formed a small Opening Black Body Marubuzo
which is more like a neutral formation due to the smaller size of the body. On the weekly
timeframe, both the indices have again formed an Opening Black body Marubuzo which has
This Weeks Recommendations

Rec. Name CMP SL TGT-1 TGT-2
Buy Britannia 2994 2908 3123 3255
Buy AstraZen 3122 3044 3239 3362
Buy HDFCLife 520 503 546 573
Buy Cadila HC 320 310 338 355
Buy JBChem 645 621 681 719
:::: INDEX LEVELS ::::
S3 S2 S1 CLOSE R1 R2 R3
NIFTY 8821 8946 9116 9251 9390 9533 9731
SENSEX 30016 30418 31158 31642 32088 32748 33354
Cont...
Financial Weekly
SMART
INVESTMENT
May 2020 6
a Real body. It is also forming a Bearish Harami pattern if we allow leniency factor. Bearish
Harami requires confirmation in the form a bearish candle for the next week. Thus Candle-
stick study indicates a Bearish bias in the near term.
This week, both the indices formed a Bearish Gap between Sensex 32748-33354 and Nifty
9533-9731, which will act as strong Resistance. Besides, the Gap has completed a Bearish
Island Reversal which has indicated the end of Pull-Back. The Bearish Island can get ne-
gated if we have Sensex closing above 33887 and Nifty 9889.
Bearish Island has thrown a spanner in the Pull-Back and put an end to it in the near term.
As the indices continue to drift lower, Retracement Support will be seen at Sensex 30736-
29763-28789 and Nifty 8980-8700-8419. A break of Nifty 8419 will be cause of concern as it
can open the passage for a retest of the Bottom at 7511.
Both the indices have managed to close above the Short term average of 20dma (Sensex
- 31470 and Nifty - 9211) but failed to sustain above the Medium term average of 50dma
(Sensex - 32648 and Nifty 9550). Both the indices continue to remain below the Long term
average of 200dma (Sensex - 37788 and Nifty - 11140). Thus the Trend in the Short term
Timeframe remains positive whereas the Trend in the Medium term as well as Long term
Timeframe continues to remain Bearish.
MACD and Price ROC continue in Buy mode. RSI (49) suggests a slight tilt towards
Bearish bias. Stochastic Oscillator %K (35) is below %D and hence in Sell mode. ADX (18)
suggests no clear trend. MFI (59) suggests Positive Money Flow. Thus Oscillators are
painting a mixed picture.
Options data for May series indicate highest Call Open Interest at the strike of 10000
followed by 9500. Highest Put build-up is at the strike of 9000 followed by 8500. Thus Op-
tions data suggest a trading range with Resistance at 9500 and Support at 9000.
Buy... Buy... Buy on Dips Hold Sell on High

Jai Corp. 66.00 Axis Bank 382.00 BOB 41.00
EID Parry 164.00
IRB Infra 64.00 Apar Ind. 294.00 SBI 166.00
Gujarat Apollo 189.00
Adani Gas 107.00 SKF India 1446.00 BPCL 324.00
U-Flex 172.00
Snowman Log. 29.00 Marico 300.00 Maruti 4657.00
Adani Port 285.00
J.B. Chemicals 645.00 Reliance Ind. 1561.00 IndiGo 929.00
Just Dial 342.00
HOEC 40.00 HCL Techno 518.00 Mahanagar Gas 859.00
Deepak Fert. 99.00
Ashok Leyland 47.00 Alkem Labs. 2588.00 L&T 816.00
Cosmo Films 247.00
Kanpur Plast. 52.00 TVS Srichakra 1071.00 Petronet LNG 224.00
Apollo Pipes 327.00
J.Kumar Infra 73.00 Colgate-Palmolive 1359.00 Ujjivan Fin. 165.00
TajGVK 123.00
Gayatri Projects 18.00 Nestle India 17798.00 Torrent Power 301.00
Prestige Estate 158.00
Hathway Cable 19.00 Varun Bev. 619.00 Timken 850.00
KNR Const. 194.00
Financial Weekly
SMART
INVESTMENT
May 2020 7
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
Subdued markets ahead!

Synopsys for the concluded week:
Although it doesn't look that austere at first sight, we have already lost about 6% for the week. All
that happened on the start itself. As on Monday, we opened with a whopping gap down of 326
points on Nifty and still closed in Red. Tuesday's gap up couldn't survive and still went below the
Monday's close. Next day was a hammer like formation but then last couple days of week were not
able to lift the sentiment and in fact Friday was nearly a spoilsport which made sure the closing of
Nifty remains at 9251.50, a loss of 608.40 point on Nifty that is about -6.17% for the week. Midcap
and Smallcap doesn't lose as much but it was -5.28% and -4.10% respectively. Except Pharma,
which stayed nearly at same levels, all other indices posted setback. PSU Bank, Nifty Bank &
Finance were outperforming sectors on negative side with the setback of -11.62%, -10.13% & -
9.57% respectively. Metals, Realty, Auto and PSE all of them were losing more than the bench-
mark.
Chart 1: Nifty - Daily

Cont...
Financial Weekly
SMART
INVESTMENT
May 2020 8
Technical View on Nifty :- We have been following the support line above
which Nifty spot was forming higher tops and higher bottoms. The same support line has been
breached downside in the recent week. However, the volume with which the support line is broken
is comparatively low. Low volume doesn't suggest any decisive move is what we believe. As can
be seen from the attached Chart 1 of Nifty Daily, now the Nifty has gone in to the consolidation
range. By looking at the consolidation since March 2020's low, we can see a level of about 8920
on Nifty which acted as resistance initially and became support finally. This is the same level from
where Nifty should find a very good support. On the upside, the similar levels near recent high at
9890 is major resistance. This is also the same kind of level from where Nifty even felt resistance
before breaking down brutally in March 2020. Thus, the broad range of Nifty would now be placed
at 9890 and 8921 levels. As long as Nifty is between these levels, we have to adopt a cautious
approach and only stock specific activity should be focused. Above the suggested resistance a full
out and loud bullish view can be made and below the suggested support, a prolonged consolida-
tion can be interpreted.
Technical View on Bank Nifty :-
Chart 2is the daily chart of Bank Nifty wherein the similar range on upside as well as on down
side is identified as resistance and support respectively. Both these range comes from the horizon-
tal line that has been identified as support and resistance in the whole consolidation that has
happened after Mar 2020. The support comes from 18940 kind of levels where as resistance comes
from 21590 kind of levels. Going ahead, breaking above the range would open a huge upside for
us but breaking below the range would cause a fear to grip in to the market. However, currently
without bothering the range break, we should adopt a cautious approach until we are in between
the shown range.
Chart 2: Bank Nifty - Daily
Cont...
Financial Weekly
SMART
INVESTMENT
May 2020 9
Dow Jones Industrial Average :-
Chart 3is the daily chart of DOW which we periodically asses as and when our markets are in
absence of local events because most of the time when our markets doesn't have local triggers, we
tend to follow DOW. From looking at the cited chart, it is not to say that Dow doesn't have a range
but the range that can be drawn on DOW is pretty similar. The only difference we found out in the
move of DOW compare to our markets are that DOW continuously traded on higher trajectory in
last week. Thus, our markets are near to the lower range but DOW is trading near the higher range.
In the coming days, if our markets follow the drive of DOW, it should have soothing time ahead is
what we should make out.
Chart 3: Dow Jones Industrial Average - Daily
Derivative Data :- Last week, we saw maximum OI built up that was from CALL side on
9500 strike, making it an important hurdle to cross. On the PUT side the maximum OI is still stand-
ing at 9000 strike and it is still an important level from where the support is coming in. Cumulatively,
OI on monthly basis is still very high on PUT side at 9000 compare to CALL side OI on 9500 strike.
Thus, 9000 is strong support compare to not so strong resistance at 9500 strike.
Nifty Support: 9000
Nifty Resistance: 9500
Cont...
Financial Weekly
SMART
INVESTMENT
May 2020 10
PCR & Future OI :- While Nifty majorly moved down for the concluded week, PCR is
too moving slowly down wards however, the Future's OI is constantly decreasing along with. De-
crease in Future's OI suggest us that the participation on lower side is not attracting the OI to
increase and hence the down move on the Nifty is not entirely a ruling trend.
Forex :- By looking at the attached Chart 4 which is a daily chart of USD/INR FX future on
nse, we can see that our Rupee is in comforting zone below the suggested resistance at 76.20
some levels. The likeliness of our Rupee getting stronger against the USD is more and hence the
level on the lower side as 75 is again on the cards is what we can make out in coming week.
Chart 4: USD/INR FX Future NSE
Crude - Crude on WTI futures has given a fantastic rally in last 9 trading sessions. The
reason why we term it a fantastic rally is because a lot of normalcy is associated if crude oil gets
stable. The rally of last 9 trading sessions have already made sure that at least one troubling leg of
the market is getting back its sanity. Crude although witnessed a rally, it is still away from its crucial
resistance i.e. at 2100-2180.
Author: JIGNESH R MEHTA (SEBI Registered Research Analyst)
Financial Weekly
SMART
INVESTMENT
May 2020 11
BUY.... BUY....BUY TIPS OF THE WEEK
Co. Name Code Price Co. Name Code Price
Jamna Auto 520051 24.00 ICICI Securities 541179 357.00
BHEL 500103 22.00 Spandana Sph. 542759 481.00
JK Tyre 530007 53.00 Jubilant Food 533155 1567.00
Adani Green 541450 212.00 HDFC Life 540777 519.00
Essel Propack 500135 173.00 IndiaMart 542726 2362.00
Tata Chemicals 500770 288.00 IPCA Labs. 524494 1551.00
ONGC 500312 75.00 Dr. Reddy’s 500124 3983.00
Deepak Nitirte 506401 531.00 Tech Mah. 532755 536.00
Cadila HC 532321 320.00 Britannia 500825 2992.00
Aurobindo Ph. 524804 652.00 HUL 500696 2088.00
SBI Life 540719 759.00 Astrazeneca 506820 3121.00
Aarti Drugs 524348 749.00 PFIZER 500680 4603.00
DLF 532868 130.00 Bayer Crop. 506285 4616.00
Global markets have smartly recoverd

and bounced back from lower levels
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Financial Weekly
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May 2020 12
Alternative Investment Returns Monitor
Price Price Return Return
30-4-2019 30-4-2020 1 Week 1 Yr.
Sensex 39032 33718 5.82% -13.61%
10Yr. Yield (%) 7.41 6.11 5 (bps) -130.10 (bps)
RBI Forex Reserve 414.15 479.57 Latest 1 Yr Avg.
(in $ billion) 479.6 445.6
Value of Rs. 1 Lakh Invested in Various Asset

(As on 30-4-2020) Sensex Gold Silver FD (SBI) PPF*
1 Year 86386 143554 113213 106800 108000
1 Year
Post Tax Returns 86386* 130460 109249 104760 108000
5 Year 124828 168673 110805 148985 151757
5 Year
Post Tax Returns 124828* 161805 109724 132408 151757
** Taxed at 10 % without indexation, # Silver prices suffered losses ; All Post - tax returns are calculated on
capital gians, except PPF, * Taxed at 30% Income Tax
Top 5 SIPs Top 5 MIPs

Top 5 Equity Schemes based on Top 5 MIP Schemes based on 3
10 Yr. SIP Return yr. SWP returns
Scheme Name Return Scheme Name Return
Annualised Annualised
SBI Small Cap. 15.66 Indiabulls Saving Income 7.30
Canara Robeco Emergin 14.38 Baroda Conservative 7.21
Axis Long Term Equity 13.09 ICICI Prudential 5.98
Principal Emergin 12.31 Canara Robeco Conservative 5.43
DSP Midcap 11.63 LIC MF Debt Hybrid 5.01
Fast Growing Stocks Least Expensive Stocks Best PEGs Income Generators Least Risky
Higesht Expected Revenue The 5 Stocks with the Top 5 Stocks with the least Top 5 Stocks with the Top 5 Stocks With the
growth over the previous year lowest forward P/E price earning to growth ratio highest dividend yield lowest downside risk
Co. Name Revenue Co. Name Lowest Co. Name Earning Investor Earn as Div. for Co. Name Lowest
Growth(%) Forward PE (%) Grwoth Ratio Every Rs.100/- Invested Downside Risk
HG Infra Engg. 41 Redington India 5.80 HG Infra 0.15 Co. Name Hig.Div. Yield Dr. Reddy’s 1.21
Ajanta Pharma 39 Redington India 10.37
NTPC 6.20 Manappurm Fin. 0.18 Alkem Labs. 1.27
IPCA Labs. 38 Engineers India 6.46
Sobha 6.40 JSW Energy 0.28 HUL 1.29
Power Grid 5.35
Rallis India 32 Dilip Buildcon 6.53 Birla Corp. 0.28 CIPLA 1.31
VRL Logistics 4.18
Info Edge India 32 Power Grid 6.75 Gujarat Gas 0.29 Thermax 1.36
Emami 4.08
Financial Weekly
SMART
INVESTMENT
May 2020 13
Smart Education : Ankit Gala : buzzpublishing@gmail.com
Management Discussion Analysis
An Important Part of Company's Annual Report!
Last week we had seenimportance of Director's Report in Company's Annual Report while analyzing
companies to identify good companies for investing point of view. This week we shall try to understand
important of Management Discussion Analysis in Company's Annual Report.
Management Discussion and Analysis :
Management Discussion and Analysis (MDA) is an important section of the annual report of a company.
It is mandatory for all companies registered in India to have this section in their annual report.
This report is basically the opinion of the management of the company about the company's current
financial and business health and its growth potential.
This section also covers information about the overall economic activity in the country and across the
globe, macro-economic performance of the industry in which the company operates, company's vision and
strategy, threats and opportunities that the company faces and some key financial data.
The word 'Management' here refers to the complete structure of organization including the top, middle
and lower management levels.
From investors' point of view, this section of an annual report is very important as it can enable
the investors' to evaluate a company and make informed decisions.
Common Contents of Management Discussion and Analysis Report :
The important points discussed in this report normally contains the following -
1. The competitive and regulatory structure of the industry and developments affecting the industry.
2. A SWOT analysis of the industry and the company, focusing on the business opportunities and threats.
3. Highlights of the financial performance of the year gone by including commentary on some key ele-
ments of the financials and performance break-up of the financials either segment-wise or product-
wise.
4. Future outlook for the industry and the company in general.
5. Discussion on key risks and concerns faced by the business and steps taken to mitigate them.
6. Details about the internal control systems of the company and their adequacy.
7. Specific discussion on the operational performance parameters.
8. Company specific developments with respect to entry or exit of key managerial personnel.
9. Specific disclosures in case of related party transactions that may need to be highlighted to ensure
there is no conflict of interest and absolute transparency in the conduct of the business.
It is important to go through at least 3 or 5 years of Management Discussion and Analysis (MDA) of a
company to understand trends of the companyin different economic situations.
Careful reading of this section of an annual report will inform the reader about the extent of transparency
in disclosures, idea about extent of corporate governances and a complete insight about the business and
its operating environment. Reading the Annual reports and specially the MDA section of the competitors in
the same industry will also give an idea about the standards of disclosure followed by the company and its
operating environment. Hence it can be said that MDA acts as a starting point for performing fundamental
analysis.
Next week we shall try to understand the segment of Corporate Governance Informationpresent in the
Annual Report.
To learn Fundamental Analysis you can read the book Fundamental Analysis of Shares by Ankit
Gala &Khushboo Gala. Book is available in English.
Financial Weekly
SMART
INVESTMENT
May 2020 14
SMART BANKING & FINANCE
By Vijaya Kittu M, GetPaidIndia.com
The author feels that investors need to stay up-to-date with sectoral and regulatory develop-
ments of their invested company. Readers can reach him on WhatsApp at +91 98495 19188.
1. SBI announced a 15 bps reduction to its Marginal cost of funds-based lending rate (MCLR)
across all tenors making housing loans and other credit products to be available at lower inter-
est rates. Fixed deposit rates were also reduced owing to the availability of adequate liquidity in
the market. SBI is considering extending the three-month moratorium to NBFCs and MFIs.
2. The Supreme Court said imposing interest during lockdown is a violation of right to life and right
to livelihood.The SC made co-operative banks on part with other lenders under the SARFAESI
Act, 2002.
3. SBI Chairman Rajnish Kumar hinted that lenders should consider creating a bad bank and that
now is the right time for it because banks have absorbed a lot of NPAs.
4. YES Bank reported a net loss of Rs. 16,418 crores for the year ending March 2020. Annual
basic EPS of the bank is down to Rs. 56.07. The Bank MD and CEO, Prashant Kumar, said that
there is a need for Rs. 4,000 crores to meet regulatory capital requirements and that plans are
on to raise Rs. 10,000 to Rs. 12,000 crores in the form of an FPO, rights issue or QIP. The bank
is expecting bad loan recoveries to the extent of Rs. 5,000 to Rs. 8,000 crores during 2020-21
fiscal. Meanwhile, the ED filed its first charge sheet accusing Yes Capital, Morgan Credits and
RAB Enterprises of money laundering.
5. Axis Bank said it is considering Work-from-Home as a post-lockdown strategy for 2 to 3 days for
its employees. The bank is planning to allow 10% of its workforce to work in large offices in the
first phase. It wishes to raise by 30% in the second phase and the remaining 60% in the third
phase.
6. CRISIL says that bad loans will increase from 9.6% levels of March 2020 to 11% to 11.5% by
March 2021. MSME and developer loans would be a big pocket of stress for NBFCs. However,
asset quality will be moderate for gold and housing loan segments. Media sources say lending
interest is likely to change from personal loans to corporate loans.
7. Manappuram Finance said 90% of its gold loan customers have not opted for the moratorium.
The gold loan segment caters to 87% of the loan portfolio of the lender. The MD & CEO VP
Nandakumar said physical distancing is helping in better adoption of digital and phygital busi-
ness modes. He said the sharp increase in gold prices helped its customers borrow more.
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Get a strong introduction on Portfolio Design, MFs and Equity Investing
Fee: Rs. 5000 for all the 4 sessions;
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Financial Weekly
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May 2020 15
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Financial Weekly
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May 2020 16
Rapid Fire Stocks
Kalpna J (Email- Kjtech79@gmail.com)
(Ring : 97690 37711) Twitter : @Kj_TechTrades
Infosys : Buy at CMP - 674, Targets - 900-1111,

Time Frame - 5 to 12 months, SL- 580 (Add in all dips)
Infosys a global leader in next-generation digital services and consulting, and Roland-
Garros, announced a strategic three-year technology partnership. The collaboration is aimed
at enriching the game by providing fans, players and coaches with a completely new experi-
ence, leveraging Infosys’ expertise in digital technologies such as artificial intelligence, big
data & analytics, mobility, virtual and augmented reality.
Infosys Limited is an Indian multinational corporation that provides business consulting,
information technology and outsourcing services. It has its headquarters in Bengaluru,
Karnataka. The company is engaged in software development in the form of services, turn-
key projects and products for the domestic and export market. The software development is
targeted towards the distribution, banking, telecommunication and manufacturing sectors
worldwide
Infosys is a global leader in next-generation digital services and consulting. They enable
clients in 45 countries to navigate their digital transformation. With over three decades of
experience in managing the systems and workings of global enterprises, and expertly steer
the clients through their digital journey. They do it by enabling the enterprise with an AI-
powered core that helps prioritize the execution of change and also empower the business
with agile digital at scale to deliver unprecedented levels of performance and customer
delight. Their always-on learning agenda drives their continuous improvement through build-
ing and transferring digital skills, expertise, and ideas from the innovation
Cont....
Financial Weekly
SMART
INVESTMENT
May 2020 17
Buy At CMP 1368 For Target Of To 1777 To 1900, Time Frame - 9

Months To 18Months, (Accumulate / Add In SIP Mode)
Pidilite Ind Consolidated December 2019 Net Sales at Rs 1,926.59 crore, up 4.24% Y-o-Y
Reported Consolidated quarterly numbers for Pidilite Industries are:
Net Sales at Rs 1,926.59 crore in December 2019 up 4.24% from Rs. 1,848.30 crore in
December 2018.
Quarterly Net Profit at Rs. 341.78 crore in December 2019 up 55.73% from Rs. 219.47
crore in December 2018.
EBITDA stands at Rs. 503.00 crore in December 2019 up 36.9% from Rs. 367.42 crore in
December 2018.
Pidilite Ind EPS has increased to Rs. 6.73 in December 2019 from Rs. 4.32 in December
2018.
Pioneer Of Adhesive Technology : - Since its inception in 1959, Pidilite Industries Lim-
Cont....
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May 2020 18
ited has been a pioneer in consumer and specialities chemicals in India.
Dominant Market Position :- Pidilite enjoys leadership position in adhesives and indus-
trial chemical market with 70% market share. The Company’s brand name ‘Fevicol’ has
become synonymous with adhesives in India. The Company operates around the world in
North America, South America, South East Asia, Middle East and Africa.The high market
share is attributable to a wide range of high quality products and a strong dealer network.
The Company operates through 15 overseas subsidiaries, 19 manufacturing facilities in
India and international manufacturing facilities in Thailand, Singapore, Dubai, Brazil, US,
Egypt and Bangladesh. The Company exports to more than 80 countries. In addition, Pidilite
is constantly adding new products and dealers to maintain its market share. The Company
has introduced several new product brands like Woodlok, Roff, and Smartcare catering to
construction, healthcare and hospitality segments.
Researching Ground-Breaking Ideas
The differences lies in doing things differently
At Pidilite, we are always in motion, looking for the next opportunity to turn into a different
idea.
We search for new ideas in everything we do, and more than two thirds of our sales
happen through in-house innovation. We have three fully-equipped in-house R&D centres in
India and five state-of-the-art technical research and innovation centres in Singapore, Thai-
land, Brazil, Dubai and USA. Over 150 professionals use a customer-focused innovation
process to bring to fruition the learnings from these interactions.
This is why Fevicol, Fevikwik, M-Seal and Dr. Fixit are not just market leaders, but also
names that have become synonymous with the product category.
Pidilite is a consumer centric company committed to quality and innovation. For decades,
we have been pioneering products for small to large applications, at home and industry,
which have forged strong bonds with people from all walks of life.
From adhesives, sealants, waterproofing solutions and construction chemicals to arts &
crafts, industrial resins, polymers and more, our product portfolio is as diverse as it is ever-
evolving. Today, our brands are trusted household and industrial names, and we are the
market leader in adhesives.
A robust and growing network makes our products accessible across demographics and
geographies.
We also embrace our responsibility towards the community through social initiatives in
rural development, education and healthcare.
Financial Weekly
SMART
INVESTMENT
May 2020 19
SMART
BUY OF THE WEEK
Dark Horse
Last week we recommended
APOLLO MICRO SYSTEMS at 70.85, within just 2 days it zoomed to
Rs.87.4 level and recorded almost 23.55% appreciation.
NAVKAR CORPORATION LTD

(539332 & NSE) (23.9) (Face Value Rs.10)
Navkar Corporation Limited is CFS opera-
tor in India with three CFSs, Ajivali CFS I and
Ajivali CFS II at Ajivali and Somathane CFS at
Somathane, which are strategically located in
Panvel, Maharashtra with an aggregate in-
stalled capacity of 5,35,000 TEUs per annum.
Company is having ICD (Inland Container De-
port) facility at Tumb (Umbergaon, Valsad,
Gujarat) with an aggregate installed capacity of
Particulars Quarter Ended
5,00,000 TEUs per annum. The Company has a PFT -
Q3FY20 Q3FY19 Var.%
Private Railway Freight Terminal (with 3 tracks) at
Sales 144.25 123.37 17
Somathane and PFT (with 4 tracks) at Tumb. Company
Operating PAT 46.64 37.92 23
is having 940 plus trailers in its equipment bank.
PBT 24.79 15.68 58
The Company's equity is Rs.150.52 crore while com-
PAT 15.07 9.19 64
pany has reserve of around Rs.1625 crore. With a share
book value of Rs.117.96, its P/BV ratio works out to just 0.20x.
Promoters hold 69.03%, Mutual Funds hold 7.70% (Nippon small cap fund hold 6.36%),
Investor Mukul Agarwal hold 1.55% while investing public hold 21.72% stake in the company.
For Q3FY20, NCL posted 64% higher PAT of Rs.15.07 crore on 17% higher of Rs.144.25 crore
and an EPS of Rs.1. In 9MFY20, it posted a PAT of Rs.36.60 crore on sales of Rs.411.24 crore with
an EPS of Rs.2.43. On income front, it has reported 94.59% CAGR growth in last 10 years and
on PAT front, it has reported 78.76% CAGR growth in last 10 years.
At CMP, NCL trades at P/E ratio of just 7.7x and is available at 90.44% discount to its recent
high of Rs.247. Company has never reported loss in any quarter post its listing in September
2015. Company came with an IPO at Rs.155 per share in August 2015 and raised money
again with QIP issue at Rs.183 per share in 2017.
Investors can accumulate this stock with a stop loss of Rs.17. It may give
very good returns in medium to long term.
Cont....
Financial Weekly
SMART
INVESTMENT
May 2020 20
RAMA PHOSPHATES LTD
(524037) (31.7) (Face Value Rs.10)
Particulars Quarter Ended Established in 1984, Rama Phosphates Limited
Q3FY20 Q3FY19 Var.% manufactures and sells fertilizers in India. It oper-
Sales 116.58 141.92 -17.86
Interest 0.27 1.97 -86.29 ates through Fertilizers & Chemicals, and Oil seg-
PAT 6.82 4.91 38.90 ments. The company offers phosphatic fertilizers,
EPS 3.74 1.48 39%
including powder and granular single super phos-
phate fertilizers; various grades of NPK mixed fertilizers; fortified fertilizers, such as powder
and granular boronated and zincated single super phosphate fertilizers, as well as soil condi-
tioners; micronutrients, such as magnesium sulphate; and water soluble and organic fertiliz-
ers. It also provides chemicals comprising sulphuric acid, oleum, and linear alkyl benzene
sulphonic acid; and edible oils, including soya, lecithin, and de oiled cakes. Rama Phos-
phates Limited offers its products under the Girnar and Suryaphool brand names.
The Company's equity is just Rs.17.67 crore while company has reserve of around
Rs.141.59 crore. With a share book value of Rs.90.01, its P/BV ratio works out to just 0.35x.
Promoters hold 75%, Disha Infin Consultants hold 3.86%, Elate Investment & holdings
private limited hold 1.30%, Nitrex Logistics private limited hold 1.30% while investing public
hold 18.54% stake in the company.
For Q3FY20, RPL posted 38.90% higher PAT of Rs.6.82 crore on sales of Rs.116.58 crore
and an EPS of Rs.3.74. In 9MFY20, it posted a PAT of Rs.15.17 crore on sales of Rs.351.82
crore with an EPS of Rs.8.26. On PAT front, it has reported 34.16% CAGR growth in last
3 years and 62.09% CAGR growth in last 5 years.
At CMP, RPL trades at P/E ratio of just 3x and is available at 77% discount to its recent
high of Rs.138.
Investors can accumulate this stock with a stop loss of Rs.24. It may give very good
returns in medium to long term.
Financial Weekly
SMART
INVESTMENT
May 2020 21
Stock Buzz
Subramanian Mahadevan
dolphincapital@gmail.com
IDFC First Bank Limited (Rs. 20.50)

New Age Banker!
IDFC First Bank Limited (IDFCFIRSTB) - demerged from IDFC, IDFC bank has formed and
forayed into banking business from 2015. It has started its journey by launching 23 branches across
India on October 2015. Since 2015, IDFC Bank has expanded its branches and took the total
number of branches to over 300, having presence in 20 states, servicing to 1.4 million customers.
On 6th November 2015, IDFC bank shares were listed in Indian bourses and paved the way for the
investors to unlock the value of their investments. The bank is equipped with professional man-
agement having rich experience in banking and finance space. IDFC Bank had beefed up teams
with lateral hiring from banks& NBFCs to scale up its business through 9000+ Points of Presence
(PoP) in more than 20 states including 306 branches from acquisition of Grama Vidiyal and 1000
Micro ATMs. Bank's management has expressed intention to target mass affluent customers which
majority of banking system is ignoring & lower penetrated. Newly launched IDFC Bank has been
aiming to gain pan India presence through inorganic route. Bank's recent acquisition of Micro fi-
nance institution would give access to large customer base which would in turn strengthen its retail
banking. IDFC Bank's vision to become a mass retail bank in 5 years by leveraging loyal customer
base of 1 million, cross selling products and increasing profitability by getting access to lower cost
of funds. IDFC bank has just started an exciting journey by merging leading NBFC 'Capital First'
with itself in Dec 2018 for better growth prospects and retail banking penetration.
Yes Bank Saga: Once touted as the next HDFC Bank, has eroded shareholders wealth in the
last one year due to mis-management, poor corporate governance and reckless lending in pursuit
of aggressive growth resulting in a void for a 4th largest player in India after the likes of HDFC
Bank, ICICI Bank and Axis Bank in the private sector banking space. Ongoing NBFC crisis post
IL&FS scandal added fuel to the fire for YES Bank to report accurate financials, corporate rejig and
better compliance with the help of new leadership to avert further crisis of confidence
Consolidation: Like the consolidation happened between Bank of Baroda, Vijaya Bank and
Dena Bank, there are few more old generation private (with no clear promoters)and public sector
banks is ripe for acquisition and would not be surprised if the current government in its Modi 2.0
version, pursue this aggressively
Catholic Syrian Bank's IPO: Prem Watsa, the Warren Buffet of Canada and Fairfax controlled
Catholic Syrian Bank which launched its IPO last year to be in compliant with RBI, may kick start a
merger with other private bank for pan india presence and would not be surprised if IDFC Bank
gets merged with Catholic Syrian Bank for larger size, scale and presence as the former is West
and East India focused whereas the latter is more of south.
Besides, the bank also has strong views on corporate banking through tie-ups. Currently, the
bank is valued at P/BV of less than 0.85Xfor FY21E which is quite compelling given the recent
preferential issue worth 2000 crore despite COVID 19 crisis. Improving asset quality, better opera-
tional metrics, improving RoA and higher profit growth is going to rerate the stock price and its
valuation multiple in the years to come. Accumulate for excellent double digit returns in one to two
years' time with limited downside.
Financial Weekly
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INVESTMENT
May 2020 22
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Financial Weekly
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INVESTMENT
May 2020 23
- Parag Salot
Technical Trading Trends (SEBI Registered Research Analyst)
M. : 91-9930011789
Nifty Overview :- Nifty Overview: In Last Trading Session, Nifty closed at 9235. Nifty is currently at
support and now markets can move in any direction. We need to trade based on intra-day movement. Nifty
near support is at 8900 levels. Nifty gets weak below 8900 levels. If Nifty respects this support level then
can again bounce back till 9700/9750 levels.
Bank Nifty Overview : In Last Trading Session, Bank Nifty closed at 19280. Even Bank Nifty is at
support and it turns negative below 18900/18800 levels. Trend is unclear and it may consolidate a bit before
moving either ways. The range is quiet wide and thus swings may occur and intra-day signals may be to
trade both ways.
Note : Markets are dependent on how Coivd 19 pandemic & thus there is lot of confusion & also risk associated with the
current situation. If the situation gets worse & if things are not under control then markets may again correct. While, if the situation
is controlled & if we are able to create vaccine then markets may bounce back again.
Trading Results
Scrip Name BSE Code Buy / Enter at Did High/ Remarks
Sell Low
IBulsHsgFin 535789 Buy 114 129 Target Achieved
Jindal Steel 532286 Buy 84 94 Target Achieved
M&M Fin 532720 Buy 150 182 Target Achieved
RBL Bank 540065 Buy 116 137 Target Achieved
Scrip Name BSE

Trading Buy
Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Bajaj Fin Serv 532978 4620 4500/4550 4650 4900 4290
Bajaj Finance 500034 2029 1980/1990 2050 2100 1960
Century Tex
(Investment Buy) 500040 265 245/250 270 300 239
IbulsHsgFin (Risky) 535789 119 105/112 130 150 99
Indusind Bank 532187 439 415/420 440 460 405
Jindal Steel 532286 89 80/85 95 110 74
RBL Bank
(Investment Buy) 540065 117 105/110 120 130 102
Tata Motors 500570 81 75/78 87 98 65
Trading Sell
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Biocon 532523 358 365/370 350 340 377
Divis Labs 532488 2300 2350/2375 2300 2200 2425
Reliance 500325 1556 1650/1670 1630 1605 1685
Note: All calls are momentum calls based on technical analysis and all levels as per future prices (If scrip not available in futures
then BSE Cash price). All these calls are given based on daily charts but intra-day signals are equally important to enter the trade in
a timely manner. Timing is very important and we at shareinfoline.com give you timely calls based on intra-day charts. Read
Disclaimer at ShareInfoline.com
Financial Weekly
SMART
INVESTMENT
May 2020 24
TECHNICAL TALK Dhananjay Kadam
TECHNICAL ANALYST, M. 7588622374
Corrections Are Temporary, Growth Is Permanent
SUN PHARMA (Close rate- 469)

Sun Pharma is one of
largest pharmaceutical com-
pany of India. It is engaged
in producing, developing
and marketing a range of
branded and generic formu-
lations, biotechnology prod-
ucts and active pharmaceu-
tical ingredients (APIs)
across the world. The manu-
facturing facilities of the com-
pany are approved by vari-
ous international regulatory agencies like US FDA, UK MHRA, TGA Australia, WHO and MCC
South Africa. In market now a days only PHARMA, FMCG, CHEMICAL companies giving good
upside movements on daily chart SUN PHARMA made nice bullish pattern ascending triangle. As
per this pattern stock showing good upside for target price 496—505. Daily closing Stop Loss will
be 460.
LINCOLN PHARMA (Close rate- 146)

This company is also from pharma sector. On daily chart stock made up channel pattern from
last one month stock is trading in uptrend making Higher Top Higher Bottom on chart. On 19
March stock price made low of

Rs. 85 and on 29 April stock price
made 165 high it means stock
given more than 100% return is
a trading month. Stock made
continuous higher top higher bot-
tom on chart today also it made
higher bottom and started up
move journey towards new
Higher Top. As per chart Price
Target is Rs 170 and daily close
base Stop Loss is 138.
Financial Weekly
SMART
INVESTMENT
May 2020 25
Techno Funda Sachin Shah : 9372144204
(Mumbai)
sound stocks growyourwealthwithsachin@gmail.com
HUL (500696 & NSE) (2090) (FV 1)

Last time on 10th December 2018, I recommended this stock here at Rs.1824 with target of
Rs.2177. Stock made high of Rs.2614 after my recommendation.
Hindustan Unilever Limited (HUL) is India's largest Fast Moving Consumer Goods Company
with a heritage of over 80 years in India. With over 35 brands spanning 20 distinct categories such
as soaps, detergents, shampoos, skin care, toothpastes, deodorants, cosmetics, tea, coffee, pack-
aged foods, ice cream, and water purifiers, the Company is a part of the everyday life of millions of
consumers across India. Company is having brands like Bru, Brooke Bond, Dove, Fair & Lovely,
Lux, Pepsodent, Ponds, Sunsilk, Rin, Surf, Vaseline etc.
Based on recent acquisition HUL merged Glaxo Smithkline Consumer Healthcare that enhances
the product portfolio with brands such as Boost, Crocin, ENO, Horlicks, Maltova, Sensodyne etc.
This Merger brings new opportunities for market leader of the FMCG Sector to grow consistently in
the years to come.
FY20 FY19
Sales 39783 crore Sales 39310 crore
PAT 6748 crore PAT 6054 crore
Sales Growth 1.20% PAT Growth 11.46%
Technical Observations : The stock corrected from its yearly high of 2614 to 1902
where the stock support of its 20 EMA on monthly charts, the stock is trading above its monthly
super trend, stock can be bought at 2090 with a target of 4000 to 4200 over the next 4 to 5 years.
Financial Weekly
SMART
INVESTMENT
May 2020 26
Terrific Shots - Dilip K. Shah
Relaxo Footwears (Rs.605.00) (Code: 530517)

It owns brands like Hawai, Flight, Schoomate, Spark and Elena. It owns seven units at
Bahadurgadh and one at Bhiwandi and Haridwar each. It has roped Salman Khan, Ketrina Kaif
and Akshay Kumar as brand ambassadors for its products. In December quarter, the company's
profit increased from Rs35.62 crore to Rs54.16 crore with 52.05% growth, while sales increased
from Rs551.27 crore to Rs599.83 crore with 9% growth. As against equity of Rs12.4 crore, the
company has reserves of Rs1092.67 crore. The promoters hold 71.02% and public hold 28.98%
stake in the company. In last five years, the company's profit has been 103.05 crore, 120.28 crore,
122.97 crore, 161.07 crore and Rs175.44 crore respectively. It has announced 180% dividend.The
investors are bullish about two footwear sector companies - BATA and Relaxo. The stock may
witness value buying on the downward movement. The stock is good option for investment in
phased manner.
MOIL (Rs.126.00) (Code:533286)
It is a miniratna PSU which operates 10 mines including 6 in Nagpur and Bhandara in
Maharashtra and 4 in Balaghat in Madhya Pradesh. These mines are more than 100 years old and
the company produces manganese from these mines. As against equity of Rs257.61 crore, it has
reserves of Rs2900 crore. In the first nine months of FY2020, the company's income decreased
from Rs1004.08 crore to Rs. 789.40, while profit decreased from Rs338.8 crore to Rs234.75 crore.
The government holds 64.35% and public holds 35.65% stake in the company. It paid 60% divi-
dend for 2019 and 30% interim dividend for 2020. Last two years have been very difficult for the
sector and the sector cycle is also at the bottom, so it is not advisable to put all money at one go but
it may be bought in four-five phases. The stock may cross 52 week high in two-three quarters.
BHEL (Rs.21.00) (Code:500103)
Heavy Electricals equipment sector company has been promoted by the Government of India
which is offering partnership at 16 manufacturing unit, where in the package include unused land
bank and huge industrial and residential space. The company's manpower includes 9000 engi-
neers. Generally the land acquisition process is quite complex but the partnership with BHEL will
give much needed relaxation from this process. Out of BHEL's 164000 acres land, around 50%
land is unused, which is valued more than the company's market capital. Along with qualified staff,
the company has pre-set vendor base and supply chain. The company announced 100% divi-
dend. In December quarter, the company recorded net profit of Rs151.90 crore on net sales of
Rs5459.24 crore and other income of Rs146.91 crore. As against equity of Rs696.41 crore, the
company has reserves of Rs30703.45 crore.
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
INVESTMENT
May 2020 27
Sarvesh Ashok Trivedi
Stock Wave (Mumbai) (Mob) 09820728124
www.chartsanketstock.com
Important support for Index at

31158 and Nifty Future at 9125
BSE Index (31642.70) :- It is moving downward from
top of 33887.25. It shows oversold position on daily basis, over-
bought on weekly basis and towards oversold on monthly ba-
sis. On upward movement, beyond 32088 it may witness re-
sisting level at 32340 and 32748. On the downward move-
ment, below 31158 it may go down to 30790, 30275, 29760,
29250 and 28780.
Bank Nifty Future (19280.00) :- It shows downward
movement from top of 21984.85. It shows oversold position
on daily basis, neutral on weekly basis and towards oversold
on monthly basis. Up 19950 it may witness resisting level at
20530. On the downward movement, below 18900 it may go
down to 18630 and 18260.
Nifty Future (9235.00) :- It shows downward movement from top of 9877.95. It shows oversold
position on daily basis, overbought on weekly basis and towards oversold on monthly basis. On upward
movement, beyond 9730 it may go up to 9435, 9478 with resisting level at 9585. On the downward move-
ment, below 9166 it may go down to 9125, 8995, 8850, 8700 and 8450.
CIPLA (591.90) :- It shows downward movement from top of 632.65. It shows towards oversold
position on daily basis, while overbought position on monthly basis. On upward movement, beyond 607 it
may witness resisting level at 623. On the downward movement, below 575 it may go down to 563, 545 and
527.
Dr.Reddy (3984.00) :- It shows improvement from bottom of 2980.95. It shows oversold position on
daily basis, while overbought on weekly and monthly basis. On upward movement, beyond 4132 it may
witness resisting level at 4195. On the downward movement, below 3805 it may go down to 3716, 3694,
3594 and 3485.
LUPIN (835.00) :- It shows downward movement from top of 906. It shows oversold position on daily
basis, while overbought on weekly and neutral on monthly basis. On upward movement, beyond 844 it may
witness resisting level at 870. On the downward movement, below 805 it may go down to 780 and 753.
Reliance (1561.80) :- it shows improvement from bottom of 875.65. It shows overbought position on
daily and weekly basis, while neutral on monthly basis. On upward movement, beyond 1525 it may go up to
1571 and 1600. On the downward movement, below 1513 it may get support at 1445.
MGL (859.25) :- It shows downward movement from top of 990. It shows oversold position on daily
basis, overbought on weekly and towards oversold on monthly basis. On upward movement, beyond 880 it
may witness resisting level at 908. On the downward movement, below 855 it may go up to 847 and 827.
Disclosure : The Recommendations are based on technical analysis. There is a risk of loss in trading.
Golden quote :-
We know what we are but
know not what we may be
Financial Weekly
SMART
INVESTMENT
May 2020 28
Dilip Davda
e-mail Expert’s Eye
dilip_davda@rediffmail.com
Overheated markets cools down

Will there be mayhem???
Last week of April 2020 derivatives expiry witnessed unprecedented rise surprising one
and all and many analysts were hinting at bigger correction. That is what expressed by the
week under report, opine observers. Our markets have seen mayhem for the month of May
many a time as can be seen on the past track records. First week of May is perhaps
indicating at such happenings said punters. Well, despite market sliding, market fancy Reli-
ance Industries remain firm around Rs. 1550 and arrested major falls said market grapevine.
Auto companies posted dismal dispatches for the month of April 2020 and have received the
treat from the markets. Cement, however, witnessed mixed trends as Government announced
restarting of infra projects on a priority basis. For the week markets witnessed volatile
trades that finally resulted in a negative week.
For the week, benchmarks moved in the range of 9533.50 - 9116.50 for NSE Nifty and
32748.14 - 31158.75 for BSE Sensex.
The week ended with LOSS of 608.40 points for NSE Nifty and of 2074.92
points for BSE Sensex.
With a gap down opening on Monday, markets kept sliding to post mega single day loss
for benchmarks. While NSE Nifty lost 566.40 points to close at 9293.50, BSE Sensex marked
deficit of 2002.27 points to end the day at 31715.35. Banking counters lead the mega fall with
across the board selling support. Even Mid and Small cap counters joined the slide. Market
breadth turned hugely negative with all out selling. Poor IIP data played spoil sport and weak
global trends added fuel to the fire. However distillery counters witnessed informed buying,
Cont....
During the week dividend announcement

Astec Life (15%), NIIT Tech (110%), Rallis India (250%), Tata Coffee
(150%), JM Fin (20%), Kansai Nerolec (315%), HCL Techno (100%),
ICICI Secur (135%), SKF India (1300%), Solara Active (20%), SBI Cards
(10%), Swaraj Engines (250% + 150%) etc.
Financial Weekly
SMART
INVESTMENT
May 2020 29
but just managed to curtail falling trends. Select buying in pharma counters failed to gain
momentum. FIIs and DIIs were the net sellers for the day.
For Tuesday markets opened higher with a gap, but post noon lost the grip and closed in
red. NSE Nifty marked deficit of 87.90 points to end the day at 9205.60 and BSE Sensex lost
261.84 points to close at 31453.51. Selling spree continued in banking counters and got
support from pharma, consumer durables, capital goods and FMCG counters profit book-
ings. Reliance maintained gaining momentum in a highly liquid market. Mid and Small cap
counters too met with profit bookings at every rise. FIIs and DIIs were the net sellers.
With a positive opening on Wednesday markets moved both ways to close in green before
weekly expiry. NSE Nifty gained 65.30 points to close at 9270.90 and BSE Sensex scored
232.24 points to end the day at 31685.75. Reports on relaxation in lockdown and stimulus
announcements by many countries to arrest falling economy helped market for smart recov-
ery. Short covering in Auto, Banking helped market to close in green even when selling on
FMCG, Capital Goods, consumer durables continued. Mid and Small cap counters remained
under pressure of profit bookings. While FIIs were net sellers, DIIs turned net buyers for the
day.
On Thursday markets opened flat but in red and moved in a range bound trades to post
negative closing. NSE Nifty marked deficit of 71.85 points to end the day at 9199.05 and BSE
Sensex lost 242.37 points to close at 31443.38. Even though Reliance Industries continued
to be in limelight, side market and select index heavy weights marked selling spree and
forced benchmarks to close in red. Banking, FMCG, Consumer Durables counters eased.
Weak global trends following reports on US-China trade war eruption kept a tab on our
market sentiment. Profit bookings in Mid and Small cap continued for the fourth day in a row.
FIIs and DIIs were the net buyers for the day.
With a gap up opening on Friday markets moved in green zone for the day and closed with
some gains. NSE Nifty scored 52.45 points to close at 9251.50 and BSE Sensex gained
199.32 points to end the day at 31642.70. Pharma, FMCG counters lead the rally and got
support from Reliance Industries. Auto and Banking counters eased on selling spree amidst
negative reports for the sectors. Vista Equity Partners investment in Reliance Jio boosted
the sentiment for the Flagship Company that rose 3.6% and FMCG giant HUL gained over
4.8%. Sun Pharma and Dr. Reddy lead the rally for pharma counters. FIIs were the net
buyers for the day while DIIs were the net sellers. Mid and Small cap continued to ease on
selling spree. Market breadth was hugely negative despite closing in green.
Dollar hovered around Rs. 75.50 a Dollar for the week. Crude Oil prices moved up to mark
Cont....
Financial Weekly
SMART
INVESTMENT
May 2020 30
29.85$ a barrel for Brent by the weekend on reports of production cut. Market men are
eyeing micro and macro economic data along with Q4 results. Markets will be on a stock
specific mode amidst yearly results season. In absence of any major factors, market may
remain in a volatile mode. Based on first week trends, market men are busy guessing as
whether mayhem will be there going forward.
Amidst such a scenario, benchmarks movement is likely in the range of 9600-8800 for
NSE Nifty and 33500-29500 for BSE Sensex for the coming week.
DISCLAIMER : No financial information whatsoever published anywhere here should be construed as an offer to buy or sell
securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information
purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified
financial advisor 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)
Nifty & Sensex Movement during the last week

Nifty Open High Low Close Diff
04-May-20 9533.5 9533.5 9266.95 9293.5 -566.4
05-May-20 9429.4 9450.9 9190.75 9205.6 -87.9
06-May-20 9226.8 9346.9 9116.5 9270.9 65.3
07-May-20 9234.05 9277.85 9175.9 9199.05 -71.85
08-May-20 9376.95 9382.65 9238.2 9251.5 52.45
Net Weekly Loss -608.4
Sensex Open High Low Close Diff
04/05/2020 32,748.14 32,748.14 31,632.02 31,715.35 -2,002.27
05/05/2020 32,182.90 32,264.00 31,403.57 31,453.51 -261.84
06/05/2020 31,577.63 31,970.84 31,158.75 31,685.75 232.24
07/05/2020 31,677.69 31,705.25 31,362.87 31,443.38 -242.37
08/05/2020 32,083.32 32,088.51 31,598.00 31,642.70 199.32
Net Weekly Loss -2,074.92
Financial Weekly
SMART
INVESTMENT
May 2020 31
Scrip Watch - Siddharth Shah
Bayer Crop. (Rs. 4616.00) (Code : 506285) (F. V. : 10.00)

Bayer CropScience, the Indian subsidiary of Bayer Germany (a diversified international chemi-
cals and healthcare company), is into crop protection, environmental science and bioscience. Its
crop protection division produces insecticides, fungicides, herbicides, seed treatment and plant
growth regulators. Bayer has partnered with AgroStar, a Pune-based e-commerce firm in the farm
input space, to deliver seeds and crop protection products directly to the farmer’s doorsteps. Farm-
ers in North, West and Central India can now order Bayer’s seeds and crop protection products for
their entire crop lifecycle and receive agronomic advisory through AgroStar’s digital agri-tech plat-
form. With agri-input shops remaining partly shut, AgroStar is fulfilling farmers’ orders through its
over 500 strong network of last-mile delivery partners, who are doing doorstep delivery of agri-
inputs. With increasing incidence of online e-commerce platforms, the trend is fast catching up in
the agricultural space. As IMD has made forecast of normal Monsoon, the stock is expected to
move ahead. Buy.
Varun Beverages (Rs. 619.00) (Code : 540180) (F. V. : 10.00)

Varun Beverages : Varun Beverages, the franchisee of PepsiCo, has reported a massive 50
percent year-on-year growth in Q1 CY20 consolidated profit at Rs 60.06 crore, supported by tax
writeback. The company said it had re-measured its outstanding deferred tax balances and written
back an amount of Rs 73.18 crore to the statement of Profit and Loss. Revenue from operations
during the quarter increased 23.3 percent year-on-year to Rs 1,676.4 crore, impacted by lockdown
for the last 10 days of March. The company has been able to sell its complete inventory of finished
goods that was built up in the month of March in anticipation of the upcoming season. Total sales
volumes during the quarter were up 26.2 percent YoY at 11.4 crore-unit cases compared to 9.03
crore-unit cases in Q12019. The stock is worth buying.
SRF (Rs. 3596.00) (Code : 503806) (F. V. : 10.00)

SRF : SRF’s journey started with a nylon tyre cord plant in Manali in India in 1970. However,
over the years not only it expanded its product range under the Technical Textiles but also diversi-
fied into many adjacent businesses. Besides Technical Textiles, today its business profile consti-
tutes Fluorochemicals, Specialty Chemicals and Packaging Films. Majority of the capex is on the
company’s textile division and is aimed at reducing costs. It is expected to improve SRF’s margin
in the coming years. The capex on chemicals division is for capacity expansion—three new plants
were commissioned in 2017-18—and will help SRF increase volumes. SRF’s nylon fabric busi-
ness is on an upward trend because the anti-dumping duties imposed on Chinese tyres are result-
ing in increased domestic tyre production. SRF’s refrigeration gas division has also been doing
well. For the quarter ended December 31, 2019, the company reported consolidated sales of Rs
1807.45 crore, up 6.19 per cent from last quarter sales of Rs 1702.17 crore and down -5.23 per cent
from last year same quarter sales of Rs 1907.21 crore. The company reported net profit of Rs
342.99 crore. Buy.
Disclosures : At the time of writing this article, author, his clients & dependent family members may have positions in the stocks mentioned above.
The author, his firm, his clients or any of his dependent family members may make purchases or sale of the securities mentioned in website. Author
may have positions in above stocks so have vested interest obviously in their going up or down as the case may be.
Disclaimer : Investing in any equity is risky. Our recommendations are based on reliable & authenticated sources believed to be true & correct, and also
is technical analysis based on & conceived from charts. Investors should take their own decisions. We assume no responsibility for any transactions
undertaken by them. The author won't be liable or responsible for any legal or financial losses made by anybody.
Financial Weekly
SMART
INVESTMENT
May 2020 32
Market Tips - Het Zaveri
Vinati Organics (Rs. 982.00) (Code : 524200) (F. V. : 1.00)

Vinati Organics Ltd (VOL) is engaged in manufacturing of basic organic chemicals, specialty chemicals
and niche specialty chemicals used in a wide range of industries including oil field, water treatment, pharma-
ceutical, mining and paints. Headquartered in Mumbai, the company operates through its two manufactur-
ing facilities located at Mahad and Lote Parashuram, Maharashtra, with an integrated B2B business model.
Currently, the company is the world’s largest manufacturer of its two key products Isobutyl Benzene (IBB)
and 2-Acrylamido 2 Methylpropane Sulfonic Acid (ATBS) with a market share of 65 per cent. There is
demand for ibuprofen being a basic painkiller and in any kind of virus outbreak like corona, the demand for
such painkillers increase. Also, the demand for IBB in the US has picked up so one will see revenues
coming from the US this quarter. Again IBB demand in India remains stable so net-net, this year the com-
pany will end the same for IBB and next year one can expect 15% increased offtake. Margins will be high.
Buy this stock at current level and buy more at decline, if any.
Excel Industries (Rs. 636.00) (Code : 500650) (F. V. : 5.00)
Excel Industries is engaged in manufacturing of Agrochemical intermediates, phosphates, speciality
chemicals, biocides and pharma products. Incorporated in 1960, the company’s manufacturing units are
located at Maharashtra and Gujarat. The company is engaged in conducts research and development
activities for creating several custom-made products for meeting specific customer requirements. vIt also
focuses on waste management area, where it has taken initiative to convert Municipal Solid Waste (MSW)
into Organic Soil Conditioner (enricher). Excel Industries has mastered in technologies and processes
namely Bromination, Chlorination, Acetylation, Diels Alder Reaction, Hydrogenation, Phosphorylation and
Cyclisations. Promoters are holding 52 per cent stake, while LIC is holding 7.5 per cent stake in the com-
pany. It has very small equity capital of just Rs.6.29 crore. It has cash EPS of Rs.105. The stock is trading
at just PE of 7-8 and price to book value ratio of just 1.33. It looks attractive. Buy.
Coromandel International (Rs. 609.00) (Code : 506395) (F. V. : 1.00)
Coromandel International : Analysts believe India-focused agri input players, with strong balance sheets,
are better-placed at this time. The optimism stems from the fact that domestic demand for agri input firms
may not be significantly impacted by the lockdown as this is usually a lean season, and sowing for the kharif
crop being in June. The expectation of the arrival of normal monsoon is also a factor that could improve the
share price as the crops harvested in Kharif and rabi seasons will be good in terms of higher output. The
company is gradually hiking revenue contribution from the crop protection division, shifting to non-subsidy
linked revenue and lowering working capital. This division contributed 13.5 per cent of the total revenue in
FY19. Buy.
Escorts (Rs. 740.00) (Code : 500495) (F. V. : 10.00)
Emkay Global has retained buy on Escorts Ltd, with a target price of Rs 815 (Rs 954 earlier), based on
14 times FY22E EPS (unchanged). The brokerage has reduced the EPS estimates of the company by
18%/15% for FY21E/F22E to factor in near-term volume pressures. ESC is a play on the tractor segment,
which is expected to recover sooner than others, owing to healthy rabi output and expectations of good
monsoon in 2020. The brokerage expects Escorts to sustain market share in domestic tractors going
ahead, led by continuation of aggressive marketing efforts, success of its dual-brand strategy – Farmtrac
and Powertrac series, and focus on network expansion. Recently, the company has strengthened its tie-up
with Kubota Japan, which took a 10% equity stake in Escorts. Escorts will benefit over the medium term by
this partnership, in terms of technology collaboration, component supplies to meet Kubota’s global require-
ments and utilization of Kubota’s global sales network for exports. Invest.
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
INVESTMENT
May 2020 33
SMART TIPS Smita N. Zaveri
Phillips Carbon Black (Rs. 74.00) (Code: 506590)

Shares of this A Group listed carbon black manufacturer touched a 52-week high of Rs. 160 and
low of Rs. 54. It is the flagship company of the $2,500 million RP Goenka Group. It is the country's
largest and the world's seventh largest carbon black producer in the world. Promoter holding in the
company is 53.56%. Book value of the shares if Rs. 95.63, which is significantly higher than the
current price. The company had paid 175% dividend last year, and the dividend yield works out at
4.66%. For December quarter, its income declined from Rs. 946 crore to Rs. 769 crore, while net
profit fell from Rs.107.07 crore to Rs. 70.20 crore. Carbon black is an essential raw material for tyre
production, and it accounts for 26% of the total weight. ICICI Direct has given a 'Buy' call on the
stock with a target price of Rs. 140.
JMC Projects (Rs. 37.00) (Code: 522263)
Shares of this B Group listed construction and engineering sector company touched a 52-week
high of Rs. 150 and low of Rs. 29. It mainly operates in four segments, viz. buildings, industrial,
power, and infrastructure, all of which offer huge potential for growth. Kalpataru Power Transmis-
sion holds 67.36% stake in the company. Its key clients include Prestige Group, Jaguar, Maruti
Suzuki, Bajaj Industries, Engineers India, Tata Housing, etc. The company's order book stood at
Rs. 10,492 crore as of December 2019. For December quarter, it reported income of Rs. 928.24
crore, net profit of Rs. 38.70 crore, and EPS of Rs. 2.31. It is likely to end the year with income of Rs.
3,651 crore, profit of Rs. 152.25 crore, and EPS of Rs. 9.06. The stock is trading at a forward PE
multiple of 4.53, and is attractively valued.
JB Chemicals (Rs. 645.00) (Code: 506743)
Shares of A Group listed JB Chemicals touched a 52-week high of Rs. 650 and low of Rs. 307.
Promoter holding in the company is 55.91%. It is one of the fastest growing pharma companies in the
country. It has presence in over 30 countries. The company had bought back shares in 2017 and
2018. It had paid 250% dividend last year. Its equity is Rs. 16.05 crore, while it has reserves of Rs.
1,468 crore. For December quarter JB Chemicals reported consolidated income of Rs. 428.63 crore,
and net profit of Rs. 66.45 crore. According to reports, four leading global PE players - KKR, Carlyle
Group, Apax Partners, and PAG - are interested in acquiring a controlling stake in the company. The
deal size is estimated at Rs. 4,800-5,000 crore ($650 million), which is at a 9% premium from the
current valuation. The stock can be seen touching new highs in the next 4-6 months.
Apollo Micro Systems (Rs. 72.00) (Code: 540879)
Shares of this defence sector company are listed in B Group. The shares touched a 52-week
high of Rs. 149 and low of Rs. 40. The Hyderabad-headquartered company is engaged in supply
of electronics and electro-mechanical systems and components, including design, research, and
development of systems used in missile programmes. The company had issued shares at Rs. 275
apiece in January 2018. The shares touched a high of Rs. 480 after the listing. Book value of the
share is nearly Rs. 139. The company operates in defence and security space, which are unlikely
to be impacted by lockdown or slowdown. For December quarter, its income increased 24% to Rs.
71.75 crore from Rs. 57.73 crore, while profit went up 26.55% to Rs. 6.34 crore from Rs. 5.01 crore.
Its income has grown at a CAGR of 20.30% in the last five years, while profit has grown at 42.80%.
The stock is trading at a P/E multiple of 6.4, and is attractively valued.
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
8th May, 2020 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
INVESTMENT
May 2020 34
Smart super duper - Het Zaveri
SOBHA LTD (RS.177.00) (CODE:532784)

The company having activities mainly in South India was considered as Infosys of real estate
sector due to highly professional management and corporate governance. As the investors have
become very selective in the real estate sector, the company is enjoying very high position in
investment list of the investors. In December quarter, the company's income increased from Rs787.9
crore to Rs883.2 crore, while profit increased from Rs69.8 crore to Rs73.2 crore. It paid 20% divi-
dend in 2016, 25% in 2017 and 70% in 2018, while declared 70% dividend for 2019. Housing for
All scheme of the government may help the company to achieve higher growth. It may give good
return in long term.
SUNDARAM FASTNERS (RS.311.00) (CODE:500403)
It is associated with $5 billion TVS Group and has its headquarter in Chennai. As against equity
of Rs21.01 crore, the company has reserves of Rs1920 crore. In December quarter, the company's
income decreased from Rs1157 crore to Rs822 crore and profit decreased from Rs116 crore to
Rs104 crore with EPS of Rs4.96 crore. It paid interim dividend of 415%. In last 3-4 years, the stock
has given handsome returns and TVS group is known for its investor friendly policies. Once the
auto industry comes out with current trouble due to CORONA, the stock may witness strong growth.
However, the couple of quarters are likely to be weak for the company so the stock can be invested
in 3-5 phase. It may give good return in long term.
ASTEC LIFE (RS.511.00) (CODE: 533138)
Agro chemicals and pharmaceutical segment company has been taken over by Godrej Group
and the stock has witnessed good movement after the acquisition. It owns facilities at Dombiwali
and Mahad. The company's equity is Rs20 crore and reserves stand at Rs227 crore. In March
quarter, the company's net profit increased from Rs13 crore to Rs31 crore and income increased
from Rs134 crore to Rs181 crore with EPS of Rs15.94. The agro chemical sector's future is bright.
Famous investors Vijay Kedia owns considerable stake in the company and he is bullish about the
future of the company. It can be considered for long term view. The promoters have increased their
stake in March quarter so the stock can be considered at downward movement.
DEEPAK NITRITE (RS.531.00) (CODE:506401)
The company is listed in the B group with facevalue of Rs2 a share. The promoters hold 45.64%
and public hold 54.36% stake in the company. In December quarter, the company's income in-
creased from Rs452.32 crore to Rs584.91 crore, while profit increased from Rs31.62 crore to
Rs141.88 crore. As against equity of Rs27.28 crore, the company has reserves of Rs1044.31 crore.
The company is reaping benefit of expansion. This is the reason why the stock prices have not
witnessed big correction in recent past despite bad market. On the contrary the stock made a new
high.The stock can be purchased at any correction in the current price. The company paid divi-
dend of Rs2 on a share in 2019. The company paid interim dividend of Rs4.5 on a share for 2020.
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
INVESTMENT
May 2020 35
Di wan-E-Khas A.J. Diwan (Mumbai)
E-mail : divanconsultancy@rediffmail.com
Keep watch on your profit

The markets are so volatile that one has to watch profit intraday trade. The crude has taken
support from lower levels. This helps US. This is reason for DOW going up. Due to Corona virus
death in US is rising and may touch one lakhs in number.
After Maharashtra, Gujarat is second number for Corona in India. The situation is going worst
and one has to take care and follow distance.
The Inflation is going to go up after lock down is withdrawal. The job problems will Increase.
What people will do in native place after going from job area?
The government has increased excise on petrol and increased price of products also. The Li-
quor cost has also gone up by 70%. The government has not closed stock markets because of
good revenue earning.
Nifty support is at 9100 on upper side 9625 is resistance. FIIs are selling in cash markets and
just trading in F&O.
Banks shares are not sustaining at higher levels. Lockdown is bound to increase NAV of Indus
bank, ICICI Bank, BOB and SBI are good short on any rise. Reliance ; share price of Reliance is
rigged over Rs.1550. This is not genuine price as per merit. The profit is down by 39%. The right
issue price is high and selling of JIO stake is showing how company wants to get finance. The
company is also going to sale its stake in Asian paints. The rise in crude and Reliance selling may
bring down Asian paints.
Selling pressure is expected in burger paints also. Biocon is also not crossing Rs. 370. keep it
as s/ l and short. Ujjivan is good short around Rs. 179/80.
Financial Weekly
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Financial Weekly
SMART
INVESTMENT
May 2020 36
Investment Ideas telegram.me/rupeegains7
NIFTY :- For next week NIFTY has strong support around 9115 levels. Break will take it to
8950-8900 levels. On the upper side NIFTY will face strong hurdle at 9385 levels, cross over with
volume and close above will create short covering at take NIFTY up to 9450-9535 levels…
BANK NIFTY :- For next week BANK NIFTY has strong support around 19050 levels.
Break will take it to 18700-18500 levels. On the upper side BANK NIFTY will face strong hurdle at
19750 levels, cross over with volume and close above will create short covering at take BANK
NIFTY up to 19975-20225-20530 levels…
INVESTMENT IDEAS… Time being play with small profit or small loss,
because due to big uncertainty time being investment may be prove risky without any
strict stop loss.
DEEP INDUSTRIES LTD
(532760 & NSE) (76.65) (Face Value Rs.10)
Deep Industries Limited started in the year 1991, with a primary objective of catering the ever
increasing demand for Oil and Gas Industry. Since its inception, Deep Industries Limited has been
serving the industry in various segments with the foremost being providing Air & Natural Gas Com-
pressor Services on chartered hire basis, wherein company commands a healthy market position
and is also the first company in India to offer such services. In the year 2006, company successfully
diversified itself in providing Workover & Drilling Rig Services on chartered hire basis. Currently,
company holds a strong fleet of Onshore Workover & Drilling Rigs ranging from 150 HP TO 1500
HP.
Company has an equity base of Rs.32 crore while company has huge reserves of Rs.534 crore.
With a share book value of Rs.176.93, its P/BV ratio works out to just 0.44x. In 9MFY20, it posted a
PAT of Rs.50.85 crore on sales of Rs.174.99 crore with an EPS of Rs.15.89. Currently, the stock
trades at a P/E of just 4x. Everyone, whose financial advisor is allowing to trade in this
stock for short term can watch with stop loss of 68.
BAJAJ STEEL LTD
(507944) (84) (Face Value Rs.5)
Incorporated in 1961, Nagpur based, Bajaj Steel Industries Limited is the largest and modern
cotton ginning & pressing machinery manufacturer in India.
With an equity capital of just Rs.2.35 crore and reserves of Rs.87.64 crore, its book value works
out to Rs.191.47 & price to book value ratio is around 0.44x.
Company has posted superb numbers for Q3FY20 & 9MFY20. During Q3FY20, its PAT zoomed
59% to Rs.6.96 crore from Rs.4.38 crore on sales of Rs.102.17 crore fetching an EPS of Rs.14.81.
For 9MFY20, its PAT zoomed 46% to Rs.19.49 crore from Rs.13.32 crore in 9MFY19 on sales of
Rs.340.88 crore fetching an EPS of Rs.41.47. Currently, the stock trades at a P/E of just 2x. It paid
40% dividend for FY19. Everyone, whose financial advisor is allowing to trade in this
stock for medium to long term can watch with stop loss of 70.
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
INVESTMENT
May 2020 37
Primary Market - Dilip K. Shah
The stock markets have become volatile due to Covid-19: The IPO market affected by CORONA
The mega issues retreat despite the Government announced relief packages in the indecisive phase
All eyes will be on the market on historic rights issues of Reliance Industries
RIL Rights Issue with 25% discounted rates will create attraction
In RIL Rights Issue the shareholders get chance to purchase the right issue in installment
Last year 13 companies raised Rs56,000 crore through Rights Issue
The Government will raise Rs22000 crore by selling stake in ITC and Axis Bank
If the shareholders will not subscribe rights issue, Reliance management will subscribe it
Shareholders cried in Vodafone rights issue, while earned a lot in Bharti Airtel
The government plans to raise Rs2.10 lakh crore through disinvestment
Kosamattam Fin's NCDs issue that got extended twice got one time subscription
Stovekraft's Rs145 crore public issue gets Sebi node
The global economy has been badly affected by CORONA. As a result, the
volatility level is very high in the global stock markets. The gain in the indices in
past few weeks has been eroded. As a result, the companies looking to foray
into the market have to postpone their decisions. Due to uncertainty in the mar-
ket, companies like Sobha Dev, Mazagon Dock, Home First Fin, IRDA, NSE and
Barbeque Nation filed DRHP for a number of time but every time it refrain from
entering the market. Moreover, Equitas and Burgerking also couldn't gather cour-
age to take step forward.
Though SEBI has extended the deadline for IPO by six months and also allow
to increase or reduce the issue size by 50%, the companies are not convinced
Forth Coming IPOs yet. It should be noted that none of the companies have
Co. (Rs. Cr.)
submitted draft with SEBI after lockdown.
Angel Broking 600
Annai Infra 225 For the rights issue, SEBI has not only given 6 month
Mazagon Dock 750
extension but also allowed companies with 18 months
IRDA 750
HomeFirst Fin. 1500 of trading history on the bourse to come up with rights
Burger King 400
issue. Moreover, it has reduced the market cap from
Equitas Small Fin. 905
NCDEX 500
Park Real -- Cont...
Financial Weekly
SMART
INVESTMENT
May 2020 38
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.
Kosamattam 19-3-2020 Base : Rs. 150 Cr. 1,000/- 10 NCDs BSE BBB/Stable
2. Finance 22-5-2020 Oversubscription up to. (Rs.10,000) by AVOID
Limited Rs. 150 Cr. Lead manager : Karvy, SMC Cap. IND
(Total : 300 Cr.) Registrar : KFin Technologies
Kosamataam Finance NCDs issue closes date again extended up to May 22
Rs250 crore to Rs100 crore. In addition, if the rights Subscription figure of

Kosamattam Finance
issue get 75% subscription, then also it will be con- Category No. of Bond Issue
Offered/ Subscribed
sidered successful. Reserved 8-5-2020
Cat. 1 QIB 1,50,000 0.00x
* Insight into Right Issue :- in FY2019-20, total Cat. 2 NII 1,50,000 0.01x
Cat. 3 HNI 4,50,000 0.54x
13 companies came up with right issues and raised Cat. 4 Retail 7,50,000 1.75x
Total 15,00,000 1.04x
Rs55,998 crore. Vodafone and Bharti Airtel came up with Rs50,000 crore rights
issues. Vodafone disappointed the investors, while Airtel made them happy.
Vodafone had offered shares at 61% discount at Rs12.5 in the rights issue, but
the share is at Rs4. Bharti Airtel offered shares at Rs230, which got fully sub-
scription.
* This week's issues :- The primary market will remain empty in absence of
Mainboard, SME and NCDs issues.
5 Year Right Issue However, Kosamattam Fin's issue that got ex-
Year Issue Rs. Cr.
tended twice got 1.04 times subscription as on May
2015-16 12 9239
2016-17 13 3424 8. The issue with base price of Rs150 crore and shelf
2017-18 21 21400
limit of Rs300 will get close on May 22.
2018-19 8 1999
2019-20 13 55998 Stovekraft IPO gets SEBI approval:- Kitchen ap-
Right Issue Performance pliance manufacturing company has

Issue Price CMP Ch. (%) got SEBI permission for issuing equity
Voda-IDEA 12.5 4.20 -66
Bharti Airtel 220 514.35 134 shares worth Rs145 crore. The lead
Bharat Gears 105 41 -61 manager is Edelweiss Finance and JM
Piramal Enter. 1300 988.85 -24
Bajaj Ele. 349 340.35 -2.47 Finance. ***
Financial Weekly
SMART
INVESTMENT
May 2020 39
PSU Disinvestment
The government plans to raise Rs22000 crore
by selling stake in ITC and Axis Bank
PSU Disinvestment :- The government plans to raise Rs22000 crore by selling stake
in tobacco and hospitality company ITC and Axis Bank. The government is believed to
close the deals within a week. The government owns 7.94% stake in ITC and 4.69%
stake in Axis Bank.
The government plans to raise Rs2,10,000 crore by selling stake. In which, the gov-
ernment plans to raise Rs90,000 crore by selling stake in LIC and IDBI.
Uncertainty in listing and transaction rates the valuation of

unlisted shares crumbles
Valuation crumbles in
HDFC Sec, HDB Fin, Hero Moto and Chennai Superking
Unlisted stock market is nearly going to
stop in India because valuation has gone Unlisted Stocks go down
down and there is no clarity about public Feb. Current
trading norms will be issued shortly. There
Price Price
are many companies like HDB Financial,
HDFC Securities, Hero Fincorp and HDFC Sec. 9000 7500
Chennai Super Kings in which shares are HDB Fin. 1100 825
being traded with steep valuation but there Hero Moto 900 850
is hardly any buyer. Chenani Superking 30 24
HDB Financial services was planning for IPO and shares were being sold at Rs1100
but the valuation has come down to Rs925 which shows reduction of 33%.
Hero Fincorp was being sold at Rs900 in February but it has come down to Rs850.
Similarly, Chennai Super Kings shares have also come down from Rs30 to Rs24.
Due to CORONA, the valuation of NSE has gone down by 10%. In the unlisted market
NSE Shares have come down from Rs1050 to Rs950.
The investors expect that the money will get stuck for at least two years amid eco-
nomic uncertainty. Once the stock gets listed, the lock-in period will be for one year.
Financial Weekly
SMART
INVESTMENT
May 2020 40
Is Reliance Industries'
Right Issue worth subscribing ?
Reliance Industries has decided to come up with Rights Reliance Right Issue
Issue worth Rs53125 crore. The company is using the at a glance
option after 29 years. Particulars Amt.
Currently, RIL's debt is Rs1.54 crore and it aims to get Right Issue Size 53125
debt-free status by end of FY2020-21. It is using options Issue Price 1257
Ratio 15 : 1
like merger, rights issue, NCDs and mega deals. It also
CMP 1562
plans IPO of Reliance Jio and Reliance Retail. Discount 24%
The way company is handling one after another deal, Record Date --
there will not be any surprise if it can attain debt-free status before December 2020.
However, due to CORONA pandemic and delay in Rs1.15 lakh crore deal with Saudi
Aramco because of crude-war, there may be delay in attaining the status. RIL has raised
Rs60,500 crore by selling minority stake to Facebook, Silver Lake and Vista.
In FY2019-20, RIL recorded net profit of Rs39880 crore on income of Rs6,55,205
crore. In March quarter, it recorded net profit of Rs6348 crore on income of Rs1,55,151
crore. On annual basis, the net profit grew by 0.1% and income grew by 5.4%. On
quarterly basis, the net profit went down by 38% and income went down by 2.5%. As the
crude oil prices have touched the bottom, the company witnessed loss of Rs4267 crore.
However, retail and jio performed well.
In the Rights Issue, RIL's shareholders will be eligible for one share for every 15
shares they hold. It is believed, the 25% money to be paid at time of application and
remaining should be put on call.
The company's fundamentals are strong. The stock is being quoted at Rs1562. So the
company has offered nearly 25% discount. At one point of time, the stock touched the
bottom of 876, from where it has witnessed a huge recovery. The way company is
reducing the debt, the return on equity will go up. It is believed that the ex-right prices will
be Rs2000.
In such situation, RIL's rights issue is likely to get good success and investors will
also be able to get handsome return. It should be noted, the management will subscribe
to the unsubscribed portion of the issue. This shows the confidence of the management
about the performance of the company. In short, the opportunity must not be missed. The
price may go before the record date is announced.
Financial Weekly
SMART
INVESTMENT
May 2020 41
Smart Best Buy S. N. Zaveri
IndiaMart : Solid e-commerce story

IndiaMart (Rs. 2362.00) (Publishing Sector)
IndiaMart : IndiaMART is a remarkable story in Indian ecommerce. The company clocked Rs
533 crore in profitable revenue in fiscal year 2019—and listed publicly on the stock-markets in
June 2019. This is rare for internet companies in India. The company has ensured the focus re-
mains on B2B ecommerce. It serves all kinds of businesses—small, medium or large businesses;
Indian as well as international businesses. Today it has about 5.7 million suppliers and about 93
million buyers registered on IndiaMart. It does more than 40 million business matchmakings every
month. Matchmakings is where a buyer discovers a supplier, and a supplier discovers a buyer for
a particular product or a service. Meanwhile, its Board of Directors’ meeting is scheduled to be
held on Tuesday, May 12, 2020, to consider and approve the audited Standalone and Consoli-
dated Financial Results of the Company for the quarter and year ended March 31, 2020. Buy this
stock in phased manner.
Godrej Properties will benefit from consolidation

Godrej Properties (Rs. 617.00) (Realty)
Godrej Properties : The Covid-19 crisis and lockdown are expected to hasten consolidation in
the real estate sector and larger players are expected to gain. Godrej Properties, which is known
for its joint ventures, will benefit out of the consolidation due to its strong balance sheet and sales
capabilities. The company is already sitting on cash of Rs 2,500 crore and have a strong brand
name, so it will benefit from the consolidation in the realty sector. The company has already said
that it has no any plans of cutting prices after lockdown period. The industry has been reeling
under a slowdown for the past eight years. There is a limited scope to cut prices. Meanwhile,
Godrej Properties said its board will meet on 11 May 2020 to consider raising funds by issuing
non-convertible debt securities on private placement basis, in one or more tranches. The company
will also declare Q4 results on that day. Buy this stock at any decline.
Aarti Industries on fire as it plans new product line

Aarti Industries (Rs. 1065.00) (Speciality Chemicals)
Aarti Industries : In the past 10 trading sessions, Aarti Industries' stock price has surged more
than 30 per cent after the company announced that during January-March quarter (Q4FY20), it
commissioned and commercialised the initial phase of its upcoming unit/ project at Dahej SEZ and
had also exported few shipments to the global customers. The company further said its fourth R&D
centre located at Navi Mumbai was also made operational in the month of March 2020. This centre
will facilitate further enhancement of its product portfolio. With this, the company expects to enter
additional new lines of chemistry and products. The focus will be on supply chains for value-added
products requiring multiple levels of synthesis and completely independent of intermediate sup-
plies from China. Aarti Industries is the largest producer of benzene-based basic and intermediate
chemicals in India. It has 17 manufacturing plants and 3 R&D centres in India and over 200 prod-
ucts. Buy at every decline.
Cont...
Financial Weekly
SMART
INVESTMENT
May 2020 42
Balkrishna Ind. : Weak Rupee will benefit the company
Balkrishna Industries (Rs. 893.00) (Auto Tyre & Rubber Ind.)
Balkrishna Industries : Balkrishna Industries is one of the leading company in Off-The-Road(OTR)
tyre market. Balkrishna Industries' key products/revenue segments include Tyres & Tubes which
contributes 95-96 per cent of total sales. The demand recovery for agriculture equipment and scope
for higher share in overseas markets will drive earnings growth in the medium term. The company
sells its product under the BKT brand and generates nearly 80 per cent of revenue from overseas
markets by supplying tyres used in agricultural and mining operations. The measures undertaken
by the company have helped it protect margins whenever demand has not been good. The Global
OTR Tire Market stood at over $19 billion in 2019 and is projected to cross $31 billion by 2025, on
the back of a growing number of infrastructure development projects worldwide. Rapid develop-
ment in the construction of road & railway network, power supplies, housing infrastructure, indus-
trial structures, etc. As dollar has been very strong against the Rupee, the company will benefit
from this currency differentiation. Buy.
Alkem Laboratories : Margins expected to improve

Alkem Labs. (Rs. 2588.00) (Pharmaceuticals Sector)
Alkem Laboratories : Alkem’s Q4 FY20 sales growth is likely to be up 10 per cent to Rs 20
billion, due to a slowdown in its India business amid the Covid-19 outbreak. Its EBITDA margin is
expected to inch up 140 bps to 14 per cent and reported profits to have grown 31 per cent, sup-
ported by strong traction in the US and benefits from the lower tax rate. Alkem is one of the export-
ers of azithromycin and might benefit if the drug, along with HCQS, obtains approval for treatment
for Covid-19. The brokerage believes Alkem has been able maintain its market share despite ad-
ditional competition in mycophenolate mofetil (launched by Lupin in partnership with Concord)
and, ahead. The US growth will be largely driven by product launches. Promoters held 65.88 per
cent stake in the company as of March 2020, while FIIs held 3.64 per cent, DIIs 13.04 per cent and
public and others 11.78 per cent. The stock is worth accumulation.
(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
8th May, 2020 unless specified o Stoploos is useful for Short - Medium term investors only
* Disclaimer :- • Smart Investment will not be responsible / for any loss arising out of investment based on its recommendation. • Though,
every care has been taken, we will not responsible for any errors / omissions o All disputes are subject to Ahmedabad jurisdictioner
Financial Weekly
SMART
INVESTMENT
May 2020 43
Dalal Street Whispers Dilip K. Shah
Reliance Industries (Rs. 1561.00) (Code: 500325) :- While Sensex has risen
6.5% in the last month, Reliance shares have surged 31% in the same period. In just over two
weeks, Facebook has acquired 9.99% stake in Reliance Jio for Rs. 43,574 crore, followed by
Silver Lake's Rs. 5,665 crore investment in Jio, and Vista Equity Partners investment of Rs. 11,367
crore. The Rs. 60,000 crore stake sale is expected to help Reliance achieve its goal of becoming
net debt-free by March 2021.
Dr. Reddy's (Rs. 3983.00) (Code: 500124) :- The company's API unit at Srikakulam
in Andhra Pradesh has received the EIR from USFDA. The share is touching new 52-week high.
HUL (Rs. 2088.00) (Code: 500696) :- This FMCG stock has been outperforming even
in a weak market. SocieteGenerale has recently acquired 1.29 crore shares of HUL at Rs. 1,902
apiece. Global research firm Credit Suisse has given 'Outperform' call on the stock with a target
price of Rs. 2,400.
LUPIN (Rs. 835.00) (Code: 500257) :- Pharma companies that make anti-malarial
drug Hydroxychloroquine are in focus for the last couple of months owing to reports that the drug
can be used to treat Covid-19. The Pharma Index has risen 45% from the March lows. CLSA has
revised the target price for LUPIN from Rs. 660 to Rs. 780, Abbott India's target price from Rs.
16,850 to Rs. 20,320, Torrent's target price from Rs. 2,010 to Rs. 2,600, Dr Reddy's price from Rs.
3,170 to Rs. 4,250, Sun Pharma's Rs. 520 to Rs. 590, and Cipla's price from Rs. 480 to Rs. 720.
Prestige Estate (Rs. 158.00) (Code: 533274) :-This realty stock has fallen by
nearly 50% from its 2020 high. However, in view of various relief measures announced by the
Centre and RBI, and likelihood of lifting of lockdown, Jefferies has initiated coverage on the stock
with a 'Buy' call. Shares of Prestige Estate can be bought with a target price of Rs. 246, DLG with
a target of Rs. 186, Godrej Industries Rs. 945, and Oberoi Realty with Rs. 423.
Aster DM HC (Rs. 76.00) (Code: 540975) :- This company's subsidiary has started
providing RT-PCR confirmatory test service for Covid-19 in Bengaluru. Along with pharma, the
healthcare index has also been outperforming of late. Shares of Opto Circuit, Albert David, SPARC,
Dishman Pharma, Hikal, etc. are also likely to be in the limelight.
JSPL (Rs. 89.00) (Code: 532286) :- Shine is being seen in the shares of JSPL as well
as Hindalco, Tata Steel, JSW steel, Nalco, etc. due to expectations of demand for metals rising
following lifting of restrictions in Green Zones.
HDFC (Rs. 1689.00) (Code: 500010) :- The company plans to Rs. 5,000 crore through
private placement of NCDs.
Morepen Labs. (Rs. 16.70) (Code: 500288) :- The company's medical device unit
at Baddi in Himachal Pradesh has received approval from British Standards Insurance (BSI).
Laurus Labs. (Rs. 440.00) (Code: 540222) :- The company has reported very good
numbers for March quarter. The net profit was up by 165%, while net sales rose 32%. The com-
pany also announced stock split in the ratio of 1:5.
United Spirits (Rs. 500.00) (Code: 532432) :-The shares of this liquor company
rose as much as 17% after states allowed sale of liquor. However, the shares corrected after Delhi
Cont.....
Financial Weekly
SMART
INVESTMENT
May 2020 44
government levied 70% Corona cess, while liquor sales were banned in Mumbai. With Supreme
Court approving liquor sales, shares of RadicoKhaitan, GM Breweries, and United Breweries, are
likely to show some fizz.
Manappuram Finance (Rs. 118.00) (Code: 531213) :- Gold prices have risen
sharply in the last couple of months to touch Rs. 45,000 per 10 gram. This has had a positive effect
on shares of gold finance companies. Moreover, the company has announced plans to raise Rs.
500 crore by issuing debt securities.
Endurance Techno (Rs. 617.00) (Code: 540153) :- The Italian subsidiary of this
auto parts company resumed operations on May 4.
Nath Bio (Rs. 278.00) (Code: 537271) :- The company has resumed operations at all
its six plants in Maharashtra. The company has received 92% of the targeted seed production from
the fields.
Godrej Properties (Rs. 617.00) (Code: 533150) :- A meeting of the Board of
Directors of Godrej Properties is scheduled on May 11 to consider and approve the quarterly re-
sults, and to consider proposal to raise funds by issue of NCDs on private placement basis.
Bharat Dynamic (Rs. 217.00) (Code: 541143) :- This PSU has recently bagged a
Rs. 293 crore order from the Air Force.
Bharat Forge (Rs. 279.00) (Code: 500473) :-The company's plant at Baramati has
begun operations. Movement is also being seen in the stock in anticipation of higher truck sales in
Latin America.
Astec Life (Rs. 516.00) (Code: 533138) :- The company has reported 145% jump in
consolidated net profit, and 35% increase in sales for the March quarter. For the whole year, sales
grew by 21%, and net profit by 33%.
BHEL (Rs. 22.20) (Code: 500103) :-The stock is trading at a decade's low. BHEL is
seeking foreign partners who wish to manufacture in India in a bid to leverage its assets.
Adani Ports (Rs. 284.00) (Code: 532921) :- The company's Q4 numbers are in line
with expectations. The company also plans to reduce its operating cost in 2020-21.
JK Tyre (Rs. 53.00) (Code: 530007) :-Tyre shares are shining on the back of sharp fall
in crude prices. Commencement of operations of automobile units due to easing of lockdown re-
strictions, and opening of replacement market are expected to help tyre companies. Shares of JK
Tyre are trading at just 4.5 times the earnings, and are attractively valued.
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
INVESTMENT
May 2020 45
Investor’s Third Eye
Smt. Dr. Hemavathy / Padmanaban (Chennai)
E-mail : investorsthirdeye@gmail.com
Astrological planetary predictions for

STOCK MARKET investments
(MAY 11th TO MAY 17th 2020)
In this week Venus and speculative planet Rahu takes its position in Gemini. Mercury in
the house of venus - Taurus, Sun in the House of mars - Aries, mars in Aquarius, Jupiter and
Saturn takes its position in Capricorn, Ketu in Sagittarius. On 14th may 2020, Sun transit
happens to Taurus house. Moon takes its position Sagittarius, Capricorn and Aquarius houses.
On 14th and 15thmay 2020,The conjunction of moon and ketu in Sagittarius and Venus and
Rahu takes seventh position in Gemini tends to create volatility in the stock market as moon
planet tends to influence the investor's mindset and association with Ketu planet may impact
the investment decisions. On 14th may onwards the conjunction of moon,Saturn and Jupiter
in Capricorn which takes fifth position towards sun and mercury in Taurus makes the market
to remain volatile. Bright prospects for chemicals, fertilizers, sugar firms, pharmaceuticals,
health sector, fertilizers, consumer goods, seed producing firms, Information Technology,
Telecommunications, agro related firms. Petronet LNG, bemL, Laurus Lab, JK Paper, Es-
corts, Kaveri seeds, Dhampur sugar, Abbott India, Granules India, Nath Bio genes, JK agri
genetics, Rallis India, PI Industries, Aurobindo pharma, Cipla, Alkem lab, Dr Lalpath Lab
may outperform.
Astrological planetary predictions for
GOLD PRICE MOVEMENTS
(MAY 11th TO MAY 17th 2020)
11th and 12th may 2020 : moon along with ketu in Sagittarius tend to create volality in the
bullion market
13th and 14th may 2020 : The conjunction of moon along with saturn and Jupiter in Capricorn
where Venus and the speculative planet Rahu takes its sixth position in Gemini brings fluctuations
in the gold prices
15th may 2020 : Sun and mercury in Taurus may tend to favour the market to certain extent but
still volatility may exist in gold price.
Financial Weekly
SMART
INVESTMENT
May 2020 46
Senior Astrologer
Dharmesh Joshi
Mob. : 9909941816
E-mail :
stockmarket@ganeshaspeaks.com
Sensex Predictions : Dt. 11th May 2020 to 15th May 2020

" Please consider 10 minutes plus and minus in each prediction, and act accordingly. " Ganesha
advises you to compare every prediction with the prediction of the previous time slot.
11-05-2020 Monday
" Friends, read carefully the slot-wise and month-wise predictions which we have given. Be-
cause now you are going to enter an exciting phase.
" Opening = Mixed to up
" From 9:15 to 11:00, do jobbing on both the sides, you will get good money.
" From 11:00 to 14:00, the big view is positive side jobbing.
" After 14:00, there will be soft side jobbing.
12-05-2020 Tuesday
" Opening = High volatility up
" For today, the prediction given in the yearly book - the day 12/05/2020 will be very important
for Nifty, wherein after mid-day, it will sudden catch an uptrend. This trend will continue until
13/05/2020. Ganesha is very happy to do this prediction one year in advance.
" From 9:15 to 9:43, Nifty will be up.
" From 9:43 to 10:53, Nifty will be down.
" From 10:53 to 12:17, Nifty will move upwards.
" From 12:17 to 12:32, there will be correction in Nifty.
" After 12:32, it is a boring time. Around 14:23, there is a correction slot. So act accordingly.
13-05-2020 Wednesday
" Opening = Dramatic Up
" Market may go down 30 minutes after opening, which will happen till 10:39. So make your
position accordingly.
" From 10:39 to 13:39, the behavior of Nifty will be in a very uneven and unpredictable pattern
but there will be more possibility of a slight upside.
" After 13:39, play simple 20-20.
14-05-2020 Thursday
" Opening = Ganesha's grace perhaps up-side.
" You are being advised to be more careful from 14-05-2020 because 19-05-2020 is a zero
weightage day.
" Buy Nifty around 10:22, exit around 11:22.
" Sell Nifty around 13:13 and exit when you earn Rs 3.
15-05-2020 Friday
" Opening = High risk, high gain/ maybe upside.
" Today market will not settle anywhere.
" If you write the letter W 3 times WWW today's pattern will be like that.
" From 9:15 to 12:32, the situation will be like lockdown, you won't understand what to - do. So
buy-sell as per your capacity.
" From 12:32 to 13:26, Nifty will be up.
" From 13:26 to 14:23, Nifty will be down.
" From 14.23 to 15:15,, Nifty will move slight up.
" In the last 15 minutes, there may be profit booking.
Financial Weekly
SMART
INVESTMENT
May 2020 47
Editor : Dilip K. Shah
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Disclaimer :- Investment recommendations made in Smart Investment are for information
purposes only and derived from source that are deemed to be reliable but their accuracy and
completeness are not guaranteed. Smart Investment or the analyst / writer do not accept any
liability for the use of this column for the buying or selling of securities. Readers of this column who
buy or sell securities based on the information in this column are soley responsible for their ac-
tions. The author, his company or his acquaintance may / may not have positions in the scrips
featured herein
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BEARISH ISLAND REVERSAL

This Weeks Recommendations

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

Subdued markets ahead!

Chart 1: Nifty - Daily

Chart 2: Bank Nifty - Daily

Chart 3: Dow Jones Industrial Average - Daily

Chart 4: USD/INR FX Future NSE

Global markets have smartly recoverd

Value of Rs. 1 Lakh Invested in Various Asset

Top 5 SIPs Top 5 MIPs

Learn the Art of Investing

Think about NIFTY FUTURE ?

Kalpna J (Email- Kjtech79@gmail.com)

(Ring : 97690 37711) Twitter : @Kj_TechTrades

Infosys : Buy at CMP - 674, Targets - 900-1111,

Buy At CMP 1368 For Target Of To 1777 To 1900, Time Frame - 9

Rapid Fire Stocks

NAVKAR CORPORATION LTD

IDFC First Bank Limited (Rs. 20.50)

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Scrip Name BSE

Corrections Are Temporary, Growth Is Permanent

SUN PHARMA (Close rate- 469)

LINCOLN PHARMA (Close rate- 146)

March stock price made low of

sound stocks growyourwealthwithsachin@gmail.com

HUL (500696 & NSE) (2090) (FV 1)

Relaxo Footwears (Rs.605.00) (Code: 530517)

Important support for Index at

Overheated markets cools down

During the week dividend announcement

Nifty & Sensex Movement during the last week

Bayer Crop. (Rs. 4616.00) (Code : 506285) (F. V. : 10.00)

Varun Beverages (Rs. 619.00) (Code : 540180) (F. V. : 10.00)

SRF (Rs. 3596.00) (Code : 503806) (F. V. : 10.00)

Vinati Organics (Rs. 982.00) (Code : 524200) (F. V. : 1.00)

Phillips Carbon Black (Rs. 74.00) (Code: 506590)

SOBHA LTD (RS.177.00) (CODE:532784)

Keep watch on your profit

English & Gujarati Edition Gujarati Edition

Rs250 crore to Rs100 crore. In addition, if the rights Subscription figure of

Right Issue Performance pliance manufacturing company has

Uncertainty in listing and transaction rates the valuation of

IndiaMart : Solid e-commerce story

Godrej Properties will benefit from consolidation

Aarti Industries on fire as it plans new product line

Alkem Laboratories : Margins expected to improve

(SEBI Registered Research Analyst)

Astrological planetary predictions for

Sensex Predictions : Dt. 11th May 2020 to 15th May 2020

Editor : Dilip K. Shah