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FII ACTIVITY (Rs. in Cr.)

DATE BUY VALUE SELL VALUE NET VALUE
13-06-22 3927.38 8091.39 -4164.01
14-06-22 4423.52 8925.77 -4502.25
15-06-22 3943.45 7474.6 -3531.15
16-06-22 4573.97 7831.62 -3257.65
17-06-22 10292.63 18111.24 -7818.61
TOTAL 27160.95 50434.62 -23273.67
DII ACTIVITY (Rs. in Cr.)
DATE BUY VALUE SELL VALUE NET VALUE
13-06-22 6969.98 4155.48 2814.5
14-06-22 7035.27 3227.67 3807.6
15-06-22 5417.16 2829.16 2588
16-06-22 6604.58 4675.44 1929.14
17-06-22 9889.7 3802.78 6086.92
TOTAL 35916.69 18690.53 17226.16
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Financial Weekly

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June 2022 6
Do you Know ???
"One can create Money by investing in Bull Market
but
one can create Fortune by investing in Bear Market"
1987- The Crash -Black Monday. 2005- RECORD OIL & GAS PRICES.
1988- Fear of Recession. 2006- Housing bubble bursts.
1989- Junk Bond collapse. 2007- Sub-prime mortgage crisis.
1990- Gulf War, the worst market de- 2008- Banking & Credit crisis.
cline in 16 years. 2009- Recession - "CREDIT CRUNCH"
1991- Recession - "MARKET TOO 2010- Sovereign debt crisis
HIGH" 2011- Eurozone crisis
1992- Elections, market flat. 2012- US fiscal cliff
1993- Businesses continue restructur- 2013- Federal Reserve to "taper"
ing. stimulus
1994- Interest rates are going up 2014- Oil prices plunge.
1995- The market is too high. 2015- Chinese stock market sell-off.
1996- FEAR OF INFLATION. 2016- Brexit, U.S. presidential elec-
1997- Irrational Exuberance. tion.
1998- Asia Crisis. 2017- Stocks at record highs, Bitcoin
1999- Y2K. mania.
2000- Technology Correction. 2018- Trade Wars, rising interest
rates.
2001- Recession, WTC Attack.
2019- India's GDP was 5%.
2002- Corporate Accounting Scan-
dals. 2020- COVID FALL.
2003- Iraq War. 2021- Third Wave Fear.
2004- US has massive trade & bud- 2022- Inflation.
get deficits
Most of us will always find why not to invest but Sensex is up more than 250x in past 40 years.
We tend to agree more on any bearish argument.
Always Remember
"One can create Money by investing in Bull Market but one can create Fortune by investing in Bear Market"
PESSIMISTS SOUND SMART. OPTIMISTS MAKE MONEY
Financial Weekly

19th June 2022 to 25 th

June 2022 7
HISTORICAL RETURNS OF NIFTY 50
Year Return Year Return Year Return

1990 18.58% 2001 -16.18% 2012 27.70%

1991 68.84% 2002 3.25% 2013 6.76%

1992 36.28% 2003 71.90% 2014 31.39%

1993 36.95% 2004 10.68% 2015 -4.06%

1994 13.40% 2005 36.34% 2016 3.01%

1995 -23.15% 2006 39.83% 2017 28.65%

1996 -1.04% 2007 54.77% 2018 3.15%

1997 20.05% 2008 -51.79% 2019 12.02%

1998 -18.08% 2009 75.76% 2020 14.58%

1999 67.42% 2010 17.95% 2021 23.98%

2000 -14.65% 2011 -24.62% 2022 -9.75%

THERE ARE ONLY 9 YEARS OUT OF 33 YEARS, WHERE

NIFTY 50 HAS GIVEN NEGATIVE RETURNS
Financial Weekly

19th June 2022 to 25 th

June 2022 8
Financial Weekly

19th June 2022 to 25 th

June 2022 9
Equichain Wealth Advisors
Global Markets Nikunj Vithlani
[email protected]

US Fed preparing for crash landing?

Last week, we have discussed the steps taken by central bank - RBI & ECB, and US Fed was
scheduled to announce it policy decision on 15-Jun-22. Central banks globally are clearly focus
on bringing inflation under control.
This week, we will discuss steps taken by US Fed and why market is worried for? We may have
a view that may different outcome or may not turn out exactly the way we anticipate. We want to
highlight here is that US Fed is preparing market for a crash landing, in our earlier article we have
discussed "Double Whammy" at least 2 - 3 times in our global market article.
Double Whammy = High inflation & High interest rate to control inflation.
US FOMC meeting 14 - 15 June 2022
1) US Fed increase rate by 75 bps to 1.50% - 1.75%
2) Largest hike since Nov-94
3) US Fed guides for rate @ 3.4% by 2022, 3.8% by 2023 & 3.4% by 2024
4) Inflation forecast raised to 4.2% in 2022 compared to 4.1% in March meeting
US Fed chair: 75 bps hike is not common, for July 2022 meeting - expect hike to be
50 bps or 75 bps based on incoming data.
Let us see INFLATION TABLE available on website link mentioned below.
https://www.usinflationcalculator.com/inflation/current-inflation-rates/

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecAverage
2022 7.5 7.9 8.5 8.3 8.6
2021 1.4 1.7 2.6 4.2 5 5.4 5.4 5.3 5.4 6.2 6.8 7 4.7
2020 2.5 2.3 1.5 0.3 0.1 0.6 1 1.3 1.4 1.2 1.2 1.4 1.2
2019 1.6 1.5 1.9 2 1.8 1.6 1.8 1.7 1.7 1.8 2.1 2.3 1.8
2018 2.1 2.2 2.4 2.5 2.8 2.9 2.9 2.7 2.3 2.5 2.2 1.9 2.4
2017 2.5 2.7 2.4 2.2 1.9 1.6 1.7 1.9 2.2 2 2.2 2.1 2.1
2016 1.4 1 0.9 1.1 1 1 0.8 1.1 1.5 1.6 1.7 2.1 1.3
2015 -0.1 0 -0.1 -0.2 0 0.1 0.2 0.2 0 0.2 0.5 0.7 0.1
2014 1.6 1.1 1.5 2 2.1 2.1 2 1.7 1.7 1.7 1.3 0.8 1.6
2013 1.6 2 1.5 1.1 1.4 1.8 2 1.5 1.2 1 1.2 1.5 1.5
2012 2.9 2.9 2.7 2.3 1.7 1.7 1.4 1.7 2 2.2 1.8 1.7 2.1
2011 1.6 2.1 2.7 3.2 3.6 3.6 3.6 3.8 3.9 3.5 3.4 3 3.2
2010 2.6 2.1 2.3 2.2 2 1.1 1.2 1.1 1.1 1.2 1.1 1.5 1.6
Cont...
Financial Weekly

19th June 2022 to 25 th

June 2022 10
US Fed preparing for crash landing?
We will focus mainly on two points mention here which believe US Fed is adopting crash land-
ing strategy. First is inflation target set by US Fed for 2022 is 4.1% revise upward from March 2022
meeting, and second point is that first 5 months have passed and average of first six months comes
to around 8.16%. Latest inflation figure released on 10-Jun-22 was for May 2022.
With 7 months pending we assume base effect will start showing its impact from the month of
October only. Last year inflation for October 2021 @ 6.2%, November 2021 @ 6.8 & December @
7.0%. Energy prices sky rocketed after Russia-Ukraine crises and in recent month food prices also
continue to remain at elevated level. In our 4th June article we have discussed Food inflation &
Energy inflation.

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Av.
2022 7.5 7.9 8.5 8.3 8.6 8.16
2021 1.4 1.7 2.6 4.2 5 5.4 5.4 5.3 5.4 6.2 6.8 7 4.7

As inflation is compared with previous year, we have again put table showing 2021 & 2022 to
understand from perspective discussed.
Fed monitor tool - market participant 88.5% expect another 75-bps hike in US FOMC meeting -
outcome on 27-Jul-22.
https://in.investing.com/central-banks/fed-rate-monitor

Equichain Wealth Advisors: View & Opinion

Based on points discussed above, US Fed will try and crush the demand and we will see huge
dip in demand. First quarter of 2022 - US GDP numbers were negative and second quarter GDP
data is also expected to be in negative, now that would mean - US will be in recession.
We do hear from US fed chair Jerome Powell about calibrated approach even White House
officials are closely monitoring economy situation, before CPI & Core CPI inflation data released
on Friday 10-Jun-22, market was expecting 50 bps hike from 15-Jun-22 meeting, but turned out to
be 75 bps hike and we see another 75-bps hike in July 2022 meeting.
Stock market will react to earnings and we see next quarterly earning which start from 2nd week
of July to show policy impact taken by central banks globally over past few months in corporate
results. So based on all these factors we term this situation as "Crash Landing".
In this week, globally indices are trading at 52-week low and pain seems to continue its impact
in result season. So our view in the time of "Crash Landing" would be capital protection and be
prepare and situation remain dynamic, situation we have witness last during lockdown and post
March 2020.

Equichain Wealth Advisors - SEBI registration number (RIA): INA000016472

Telegram channel: https://t.me/Equichain

Nikunj Vithlani
Financial Weekly

19th June 2022 to 25 th

June 2022 11
Chart Check
Your Stock Our Recommendation
Denora :
It has given Cup breakout and currently retesting support. Those who are holding can put SL
below 610 for target of 845…1152. If market goes below 610 close your position and reenter
above 634

TV 18 :
TV 18 has just started up move and has seen heavy selling however it is currently on trendline
support hence those who are holding can keep SL of 32.5 if retesting is successful stock can
show bull run
Financial Weekly

19th June 2022 to 25 th

June 2022 12
HFCL
This stock is again trying retesting if same is successful stock can see new high but it should hold
54 in closing basis

This are some stocks we received from our subscribers,

You can also send your to get featured in next week
For any query email us on
[email protected]
 Financial Weekly

19th June 2022 to 25 th

June 2022 13
Chart Check
Your Stock Our Recommendation
Want to get recommendations based on Technical Analysis on your
selected stock? Then Send us following details. We will give recom-
mendation based on it.
Required Details :
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Buy... Buy... Buy on Dips Hold Sell on High

NBCC 28.00 Coforge 3378.00 EID Parry 496.00
Ahluwalia 391.00
Bonlon Ind. 37.00 Rajesh Exports 562.00 ITC 263.00 IGL 339.00
Vakrangee 26.00 Torrent Pharma 2756.00 Heranba 520.00
PNC Infra 227.00
Arvind Fashion 244.00 Va Tech 240.00 Navin Fluro 3549.00
Alkem Lab 3097.00
Centrum Capital 20.00 GSS Info 235.00 Khadim India 173.00
Marico 473.00
ArchidPly 47.00 Chennai Petro 324.00 Dalmia Bharat Sug. 321.00
Ratnamani Metal 2364.00 Balrampur Chini 364.00
Nalco 75.00 Oreint Bell 591.00
Jindal World 254.00 ICICI Bank 688.00 Titan 1935.00
Spandana Sph. 321.00
Elpro Intl. 64.00 STAR 309.00 Astral 1628.00 Jubilant Ind 364.00
Max Ventures 91.00 Intellect Design 627.00 Mphasis 2195.00
GNFC 606.00
Indo Rama 62.00 Ashok Leyland 131.00 Deepak Ferti 570.00
Bajaj Finserv 11758
Financial Weekly

19th June 2022 to 25 th

June 2022 14
Rapid Fire Stocks

Kalpna J (Email- [email protected])

(Ring : 97690 37711) Twitter : @Kj_TechTrades

Brigade Enterprise
Buy at cmp 440 , Targets 475 to 550,
Timeframe 2-7 months (Accumulate)
The Brigade Group is one of India’s leading property developers with over three decades of
expertise in building positive experiences for all stakeholders. Instituted in 1986, the company has
developed many landmark buildings and transformed the skyline of cities across South India, namely
– Bengaluru, Mysuru, Mangaluru, Chikmagalur, Hyderabad, Chennai, Ahmedabad and Kochi with
developments across the Residential, Commercial, Retail, Hospitality and Education sectors. Since
its inception, Brigade has completed 250+ buildings amounting to over 70 million sq. ft of devel-
oped space across a diverse real estate portfolio.
Brigade assures best-in-class design and top-of-the-line facilities that exude elegance and so-
phistication. The Residential developments include villas, villaments, penthouses, premium resi-
dences, luxury apartments, value homes, urban studios, independent living for seniors and mixed-
use lifestyle enclaves and townships. Over the years, the projects have been one-of-a-kind in the
sector, for example Brigade developed Brigade Gateway, Bengaluru’s first lifestyle enclave and
Brigade Exotica, one of the tallest residential buildings in Bengaluru.
Brigade is among the few developers that also enjoys a reputation of developing Grade A Com-
mercial properties. The license owners of the World Trade Center across South India, the Group’s
commercial spaces have top international clients operating out of them. Brigade also entered the
co-working space with ‘BuzzWorks’ in March 2019. The commercial segment has seen consistent
growth over the last few years with over 5 million sq. ft of office spaces under development
Cont....
Financial Weekly

19th June 2022 to 25 th

June 2022 15

Motherson Sumi Wiring India Ltd

Buy at cmp 60, for the targets of 90 to 111
Motherson Sumi Wiring India Limited is a leading and fast-growing full-system solutions pro-
vider to OEMs, in the wiring harness segment in India. We work hard every day to deliver outstand-
ing value to all our stakeholders, from our customers to our investors and from our employees to
the communities we work in. Through the trust of our customers, we have grown, become stronger
and more diverse and have moved closer towards our vision of being a preferred solutions pro-
vider. We are uniquely positioned to thrive and capture the exciting opportunities the Indian market
offers.
Motherson is one of the leading global suppliers of vision systems to the automotive industry
and the product range includes interior mirrors, exterior mirrors and camera-based detection which
it supplies to almost all major OEMs. Vision Systems is aided by strong vertical integration and
provides full-service solutions to its customers
The division consists of several businesses that engage in direct sales and services to end
customers and supports their manufacturing operations. The business portfolio includes an indus-
trial park; manufacturing engineering, consultation, project management and turnkey supplies to
the automotive industry and trading of machine tools and hydraulic products

Rapid Fire Stocks

For My Personal Assistance with My
Elite Membership At a Nominal Cost
Whatsapp @ 9769037711
For My Free Stock Ideas Follow me on
Twitter @Kj_Techtrades
Financial Weekly

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June 2022 16

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Financial Weekly

19th June 2022 to 25 th

June 2022 17
Jatin Sanghavi
Market Scan (Mumbai)
(M) 098205 26455
[email protected]

MAYHEM ON D-STREET
MINOR BOUNCE CAN BE EXPECTED
Final hope for the Bulls was the Support Zone at 15739-15671, which was finally destroyed by
the Bears on Thursday's big collapse following Fed's decision to hike interest rates by 75bps. Nifty
has just about managed to take Support at the Support Zone of 15314-15200 which is due to the
confluence of 161.8% and 100 Weekly MA. After such a big Fall, Nifty has formed a small White
body Spinning Top in a Support Zone. Also critical Oscillator like RSI is in oversold territory which
suggests faint hope of a bounce-back up to 15600-15700.
14470-14161 : INTERMITTENT TARGET :- Once below Support Zone of
15314-15200, Nifty will head towards Intermittent Target Zone of 14470-14161 which is a
confluence Zone due to 161.8% of Bearish Cup & Handle and Target of minor Rounding
Top. On the Lower side, extreme bearishness can lead the Nifty towards Final Target Zone
of 13228-13171 which is again due to the confluence of 200 Weekly MA and Target of Bear-
ish Cup & Handle.
WEEKLY BEARISH GAP AS RESISTANCE :- Monday's Gap down Opening
and continued fall resulted in formation of Weekly Bearish Gap at Sensex 53207-54205 and
Nifty 15886-16172. This Gap will act as strong Resistance going forward. Till this Gap is
crossed, all rallies will be sold into.

This Week Recommendations

Stocks CMP SL Tgt-1 Tgt-2
Sell SBICard 686 700 664 641
Sell PidiliteInd 1999 2044 1930 1859
Sell Escorts 1501 1533 1452 1401

:::: INDEX LEVELS ::::

S3 S2 S1 CLOSE R1 R2 R3
NIFTY 14467 14753 15044 15293 15578 15886 16172
SENSEX 48236 49331 50375 51360 52260 53207 54205
Financial Weekly

19th June 2022 to 25 th

June 2022 18
Financial Weekly

19th June 2022 to 25 th

June 2022 19
SMART BANKING & FINANCIAL SERVICES
By Vijaya Kittu M, GetPaidIndia.com
The author feels investors should constantly track their invested stocks and sectors
to have the edge over the market.
1. US FEDbenchmark interest rate hike of 0.75 percentage points is the most significant increase since 1994. The
Fed also hinted of another potential 0.75 rate cut going forward.
2. RESERVE BANK OF INDIA would raise interest rates to 5.9% by December 2022 and 6.15% by the end of 2023,
Fitch Ratings said in its recent update.RBI has increased the limits for e-mandates for recurring transactions on
cards, Prepaid Payment Instruments (PPIs), and UPI from the existing Rs. 5,000 to Rs. 15,000.
3. RBIremoved the business restrictions imposed on MasterCard Asia effectively immediately. With this, MasterCard
will be allowed to onboard customers. The restrictions were imposed on July 14, 2021, for the violations related to
data localization & storage rules set by RBI on April 6, 2018. The restrictions stopped MasterCard from issuing
new credit, debit, and prepaid cards.
4. INSOLVENCY AND BANKRUPTCY CODE (IBC) completed six years. As many as 3400 cases were dealt with in
the period, with resolutions found in 14% of cases alone. Financial creditors could take home 30% of what they
have lent. Performance and conduct issues were found with Resolution Professionals (RPs), and committes were
formed to make the system much more robust. Resolution delays and low recovery rates are forcing lenders to
favor Asset Reconstruction Companies (ARCs). All eyes are on making IBC more robust going forward.
5. ICICI BANK and the State Bank of India (SBI) have hiked fixed deposit interest rates. ICICI Bank's new FD rates
have seen revision by 25bps to 75bps.
6. FITCH RATINGS revised the rating outlook to stable from negative for nine India-based banks, including ICICI
Bank, Axis Bank, and SBI.
7. HDFC LTD began cleaning up its books before the announced merger with its subsidiary HDFC Bank. HDFC Ltd
is in the final stages of selling four large distressed accounts, including that of Subhash Chandra-promoted Siti
Networks NSE 2.94 %, to Assets Care and Reconstruction Enterprise (ACRE). HDFC Ltd Chairman Deepak
Parekh said India should be able to double its home loans to around US$600 billion within the next five years.
8. LIC IPO became the second largest wealth-destroying IPO in Asia for the year. The first is LG Energy of Korea.
Launching the IPO at a time of global economic uncertainty as Governments are fighting inflation is considered
the prime reason. The IPO is termed the 'Aramco-moment' of India. However, the stock continued to slide down,
eroding about $17 billion (or 29%) of its market cap since its May 17, 2022 listing.
9. VIVEK KUDVA, APAC Head at Franklin Templeton, is retiring on July 28 after working for the firm for over 16
years.The fund house appointed Matthew Harrison and Tariq Ahmad as co-heads of APAC.
10. SEBI issued a circular and nomination format that allows mutual fund investors to mention their nomination or opt
out of it. Fund houses are given time till March 31, 2023, to get consent from investors failing which the folios will
be freezed for debit.
11. CRYPTOCURRENCIEShad a carnage, with Bitcoin suffering from one of the most significant recent falls. Sev-
eral lakhs of trades got liquidated during the week. Market estimates are that a record $1.1 trillion in market
capitalization was lost in the last 77 days, making it the largest and the fastest wealth erosion in the history of
investments. Some analytics insight magazines predictBitcoing to fall below $10,000 a piece and that the dips
are not a buy.
12. COINBASE, the largest cryptocurrency in the world is cutting its workforce by 18% or about 1100 workers. Each
employee will receive an email if he/she is "affected" or "unaffected". Its CEO admitted they overhired believing
the growth rate of 2021 will continue. Coinbase India has cut its staff by 8%.
13. DOGECOIN investor sued Elon Musk for $258 billion by the "Dogecoin Crypto Pyramid Scheme. The investor
asked the New York court to classify his suit as a class action suit. He claims to have lost $86 billion and sued
for reimbursing investors and paying double damages. Dogecoin was started as a "joke" to make fun of wild
speculation in cryptocurrencies.

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Financial Weekly

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June 2022 21
Stock Buzz
Subramanian Mahadevan
[email protected]

Hindustan Copper Limited (Rs.94)

Copper is next Oil!
Hindustan Copper Limited (HCL)- is a Kolkata based PSU incorporated on 9th November 1967,
has the distinction of being the nation's only vertically integrated copper producing company as it
manufactures copper right from the stage of mining to beneficiation, smelting, refining and casting
of refined copper metal into downstream saleable products.HCL is the only operating copper ore
mining company in India owning all the operating mining lease of copper ore with proven experi-
ence and expertise in developing and operating copper mines. It has access to about 2/5thof India's
copper ore reserves and resources with an estimated reserves of close to 167Million tonnes. The
company is currently planning to increase the capacity from 3.97 Mtpa to 12.2 Mtpa which is cur-
rently under implementation as part of Phase I and in the next phase i.e. Phase II, capacity will get
increased from 12.2 Mtpa to 20.2 Mtpa. The company mines and plants are spread across five
operating Units, one each in the States of Rajasthan, Madhya Pradesh, Jharkhand, Maharashtra
and Gujarat. The Company markets copper cathodes, copper wire bar, continuous cast copper rod
and by-products, such as anode slime (containing gold, silver, etc.), copper sulphate and sulphuric
acid. In normal practice, more than 90% of the sales revenue is generated from cathode and con-
tinuous cast copper rods. In concluded financial year 2020-21 with a net profit of ? 109.98 crore,
compared to a loss of ? 598.21 crore in the previous fiscal year 2019-20. The central public-sector
enterprises (CPSE) under the Ministry of Mines, reported a total income of ? 1,821.61 crore in fiscal
2020-21, compared to ? 888.81 crore in the previous financial year. The public-sector company
declared a dividend of a total amount of ? 33.85 crore to Government of India its major shareholder
besides reducing its debt burden which resulted in a debt equity ratio of 2.11 lower from the previ-
ous year's mark of 4.21.India is the 6thlargest importer of copper ore and concentrates in the last fe
years. Equipmentwas the largest end use sector followed by building construction and Infrastruc-
ture. The average per capita consumption of Copper in the world is 3.2KG compared to 8.4 Kg and
0.5Kg in China and India respectively. All the initiatives by government like Make in India which
includes 100GW renewable energy, PLI scheme for electronic industry, electric vehicle will signifi-
cantly increase the copper demand and consumption exponentially in the coming years. After AIR
INDIA successful divestment, next on the line is HCL where Government of India holds 62% be-
sides LIC with 15% is also on radar by big business houses like Anil Agarwal of Vedanta, Adani
etc…Investors who had missed the divestment opportunity through Hindustan Zinc in 2003, may
get another opportunity this time through Hindustan Copper. Investor with above average risk ap-
petite and should have the patience to hold for 03 to 05 years should accumulate on every decline
and HCL could soon become a huge dark horse/best divestment story on the Indian bourses above
par with Hindustan Zinc. Stock has the potential to deliver 1000% returns for sure from a three-five
year perspective.
Financial Weekly

19th June 2022 to 25 th

June 2022 22
In last 8 sessions Dow-Jones corrected by
more than 3500 points & Nifty by more than 1300 points.
US market is making new
52 week lows & Indian Markets are also impacted equally.
If you want to know which side will market move
incoming days & what should be the best approach
to follow for trades & investment.
Join Equity99 Telegram Channel today :
Channel Link
httsp://t.me/equity99

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

Co. Name Code Price Co. Name Code Price
Sunflag Iron 500404 86.00 Bharti Air 532454 643.00
Manali Petro 500268 91.00 VBL 540180 751.00
AVT Natural 519105 89.00 Coromandel Int 506395 923.00
Hind Motors 500500 21.00 Reliance Ind 500325 2589.00
Kohinoor Food 512559 82.00 Adani Green 541450 1713.00
REC 532955 112.00 Relaxo Foot 530517 954.00
KIOCL 540680 189.00 Apar Ind 532259 920.00
CG Power 500093 167.00 Bajaj Auto 532977 3632.00
Torrent Power 532779 465.00 HAL 541154 1915.00
Indus Tower 534816 208.00 Pidilite 500331 1999.00
Delta Corp 532848 184.00 MGL 539957 699.00
Praj Ind 522205 341.00 Bajaj Holding 500490 4478.00
A.B Fashion 535755 230.00 LT Info 540005 4002.00
VIP Ind 507880 596.00 Fiem Ind 532768 1113.00
SunTV 532733 433.00 Siemens 500550 2326.00
SBI Card 543066 686.00 Maruti 532500 7690.00
Tata Consumer 500800 711.00 Maha Scooter 500266 3674.00
Financial Weekly

19th June 2022 to 25 th

June 2022 23
- Parag Salot
Technical Trading Trends (SEBI Registered Research Analyst)
M. : 91-9930011789

Nifty Overview : In Last Trading Session, Nifty closed at 15348. Last week, we
had mentioned that Nifty can go as low as 15200 and Nifty did low of 15212. Nifty still looks weak
and support levels are 14900/14700. Nifty resistance is at 15700 levels.

Bank Nifty Overview : In Last Trading Session, Bank Nifty close at 32885. Last
week, we had mentioned that Bank Nifty will be weak below 34200 and it did made a low of 32335.
Bank Nifty support is at 31800 while resistance is at 33700 levels.

Trading Results
Scrip Name BSE Code Buy / Enter at Did High/ Remarks
Sell Low
STAR 532531 Buy 295 332 Target Achieved

Trading Buy
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
DB Corp 533151 75.40 70/72 78 85 65
GICRE 540755 110 105/110 120 130 99
HDFC AMC 541729 1773 1740/1770 1820 1880 1705
Indus Tower 534816 210 195/200 215 230 188
IPCA Lab 524494 871 855/860 880 905 842
NMDC 526371 109 92/94 102 110 88
Wipro 507685 407 375/380 395 405 365

Trading Sell
Scrip Name BSE Last Enter at 1st 2nd Stop
Code Close Between Tgt. Tgt. Loss
Adani Ent 512599 2117 2350/2400 2250 2100 2425

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

19th June 2022 to 25 th

June 2022 24
TECHNICAL TALK
Dhananjay Kadam - TECHNICAL ANALYST

Corrections Are Temporary, Growth is Permanent

NIFTY (15450.00) :- Today it closed at 15450. In last week's article I wrote that the weekly
chart Nifty showing resistance of 17000 and support price of 14450, Nifty will go more down and
next support will be 15450. Now Nifty broke weekly support of 15450and closed at 15293. On the

weekly chart Nifty

clearly indicates it's
next level of 14200 it
will be crucial support
for next week. As per
the last 40 years tech-
nical analysis data,
whenever market per-
formance continues for
three years next 1 or
1.5 years it shows a bearish or sideways phase . Follow all disciplines of risk management and
portfolio management. Always remember sometimes NO TRADE ALSO A TRADE TO SAVE
PROFIT AND CAPITAL.

BANKNIFTY (32743) :- On the weekly chart BANKNIFTY was trading in a symmetric

triangle zone . Today it crossed the symmetrical triangle zone and given a downside breakout it's
indicating the next target of 30400 in next 3 to 4 weeks. Avoid new position investments.
Financial Weekly

19th June 2022 to 25 th

June 2022 25
Techno Funda Sachin Shah :
[email protected]
(Mumbai)

sound stocks M. : 9372277340

APAR INDUSTRIES LTD (532259 & NSE)

(920.80) (Face Value Rs.10)

APAR Industries was

started in 1958, in India. Over

the last 64 years the company

has grown into a diversified

billion dollar company, and

expanded to over 125 coun-

tries as a highly trusted manu-

Cont...
Financial Weekly

19th June 2022 to 25 th

June 2022 26
facturer and supplier of conductors, a wide variety of cables, speciality oils, poly-

mers and lubricants. It is Largest global aluminum & alloy conductors' manufac-

turer, largest Cables manufacturer for renewables in India and 3rd largest global

manufacturer of Transformer oils.

Accumulate on dips with a target of 1150 in 15 to 18 months

Financial Weekly

19th June 2022 to 25 th

June 2022 27
Financial Weekly

19th June 2022 to 25 th

June 2022 28
Terrific Shots - Dilip K. Shah

Uflex (Rs. 556.00) (Code: 500148) :- Shares of this A group listed packaging sector
company touched a 52-week high of Rs. 719 and low of Rs. 427. Promoter holding is 44.20%. The
company is an Indian MNC providing flexible packaging materials and solutions. In addition, it is
also engaged in allied businesses such as aseptic liquid packaging, engineering, cylinders, ho-
lography, and chemicals. It has plants in 16 locations in nine countries including India, UAE, Mexico,
Egypt, etc. International markets account for over 50% of its business. Its clients include Pepsi,
P&G, Nestle, Tata Beverages, Amul, etc. It has recently set up an aseptic liquid packaging facility
at Sanand in Gujarat. For the March quarter, it reported income of Rs. 3868 crore, profit of Rs.
350.59 crore, and EPS of Rs. 48.51. The stock can be seen touching Rs. 700 in the short to me-
dium term, and Rs. 800 in the long term.
Sun TV Network (Rs. 433.00) (Code: 532733) :- Sun TV is the largest media group
in south India and the second largest in the country. It has presence in over 27 countries and is
watched in over 95 million homes. It is also present in the DTH business with Sun Direct. It is also
the owner of the IPL team Hyderabad Sunrisers. The company’s equity is Rs. 197 crore and re-
serves Rs. 7958 crore. Promoter holding is 75%. FIIs and DIIs hold 9.21% and 4.18% respectively.
For the March quarter, its income rose from Rs. 803 crore to Rs. 857 crore, while profit fell from Rs.
487 crore to Rs. 410 crore. Being debt-free is a big positive for the company. It has a market cap of
Rs. 17,097 crore. The stock touched a 52-week high of Rs. 611 and low of Rs. 403. The stock is
quoting at attractive valuations.
HDFC Life (Rs. 551.00) (Code: 540777) :- Shares of this A group listed insurance
company touched a 52-week high of Rs. 775 and low of Rs. 497. Post-Covid awareness about life
insurance has gone up, and more people are preferring private sector companies such as HDFC
Life and SBI Life. The company reported very good numbers for the fourth quarter, with premium
income rising 11%. The renewable premium was up by 16% while the single premium and first-
year premium grew by 8%. The company’s AUM has grown by 17% to Rs. 2.4 lakh crore. Promoter
holding is 51.53%. Its equity is Rs. 2122 crore and reserves Rs. 13,497 crore. For the March quar-
ter, its income fell to Rs. 17,856 crore from Rs. 20,415 crore, while profit was up to Rs. 506 crore
from Rs. 319 crore. The stock may bounce back with a stop loss of Rs. 588.
UPL (Rs 665.00) (Code: 512070) :- UPL is a leading global company in the field of
generic crop protection, agro-chemicals, and seeds segment. Two of UPL’s subsidiaries, viz. UEL
and Advanta are also listed, while it has acquired an international company with the name Arista.
It has presence in 123 countries, and has 27 formulations and 48 manufacturing facilities. It has
more than 1,000 product patents, suggesting a strong R&D. The company’s equity is Rs. 153
crore. Promoter holding is 28.45%, while FIIs hold 35.30% stake. For the March quarter, its income
increased from Rs. 12,796 crore to Rs. 15,861 crore, while profit went up from Rs. 1063 crore to Rs.
1379 crore. Operating profit went up from Rs. 2651 crore to Rs. 3380 crore. The shares touched a
52-week high of Rs. 852 and low of Rs. 625.

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

19th June 2022 to 25 th

June 2022 29
Buy or Sell, Confused ?
Let the EXPERTS Help You
Join our Service for 1 Month & We are
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Financial Weekly

19th June 2022 to 25 th

June 2022 30
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Financial Weekly

19th June 2022 to 25 th

June 2022 31
Sarvesh Ashok Trivedi
Stock Wave (Mumbai) (Mob) 09820728124
www.chartsanketstock.com

The market is highly oversold

cautious approach needed in selling newly bought shares
BSE Index (51360.42) :- It is moving downward from the top of 56432.65. It shows oversold
position on daily and weekly basis, while overbought to neutral on monthly basis. June 20 to 24 could be
gain turning days. On upward movement, beyond 51653 it may go up to 51950, 52678, where profit selling
might be seen and beyond that it may go up to 53335 and 54206. On downward movement, below 50921 it
may go down to 50805, 49660, 48520 and 48260.
Bank Nifty Future (32885.95) :- It shows downward movement from top of 36333. It shows
oversold position on daily and weekly basis, while towards neutral from overbought on monthly basis. On
upward movement, beyond 32942 it may go up to 33520, 33890, 33970 with resisting level at 34402. Be-
yond 36520 profit selling might be seen. On downward movement, below 32335 it may go down to 32251,
32140, 30530 and 28920.
Nifty Future (15348.80) :- It shows downward movement from top of 16790. It shows over-
sold position on daily and weekly basis, while towards oversold on monthly basis. On upward movement,
beyond 15428 it may go up to 15505, 15610, 15710, 15805, 15915, 16000, 16099, 16185. Beyond 15948
profit selling might be seen. On downward movement, below 15211 it may go down to 15130, 14790, 14440
and 14365.
Axis Bank (635.20) :- It shows downward movement from top of 698. It shows oversold position
on daily and weekly basis, while towards oversold on monthly basis. On upward movement, resisting level
could be at 658. On downward movement, below 626 it may go down to 612, 576 and 540.
CIPLA (914.75) :- It shows downward movement from top of 1006.85. It shows towards oversold
position on daily and weekly basis, while overbought to neutral on monthly basis. On upward movement,
beyond 938 the resistance could be at 960. On downward movement, below 911 it may go down to904, 893,
879, 864 and 850 and below 850 long term downward trend could be seen.
Marico (473.40) :- It shows downward movement from top of 551.90. It shows oversold position
on daily and weekly basis, while towards neutral on monthly basis. On upward movement, beyond 495 it
may witness resisting level at 501. On downward movement, below 468 it may go down to 450 and below
that long term downward trend may be seen.
Tata Steel (906.70) :- It shows downward trend from top of 1315.30. it shows oversold position
on daily and weekly basis, while towards oversold on monthly basis. On upward movement, beyond 956 it
may witness resisting level at 975. On downward movement, below 895 it may go down to 840, 765 and
697.
TCS (3088.20) :- It shows long term downward trend from top of 3477.30. It shows oversold posi-
tion on daily, weekly and monthly basis. On upward movement, beyond 3133 it may witness resisting level
at 3245. On downward movement, below 2890 it may go down to 2730, 2570 and 2430.
Disclosure : The Recommendations are based on technical analysis. There is a risk of loss in trading.

Golden quote :- Failure is the key to success,

each mistake teaches us something
Financial Weekly

19th June 2022 to 25 th

June 2022 32
Dilip Davda
e-mail Expert’s Eye
[email protected]

Weak global cues weigh amidst all odds

Rate hike by global Fed Banks raises concern
Having started the week on a negative note, we marked mega slide for the week that emerged
as the second red week in a row. As FIIs continued to exit and weak global trends kept a tab on
general sentiment that propelled sliding mode, it got aggravated when global Federal Banks an-
nounced rate hike to curtail spiralling inflation. Volatile Crude Oil PricesForex and delayed mon-
soon also played spoil sport. Perhaps due to this we also witnessed dry spell on mainboard IPO
front. The week turned out to be a clean sweep negative week with mega losses for Monday and
Thursday. With this second negative week, we marked six red closings in a row.
During the week, while BSE Sensex moved in the range of 53207.54 - 50921.22, NSE Nifty

Dividend announcements
A-1 Acid (15%), hovered between 15886.15 - 15183.40.
eMudhra (25%), During the week, benchmarks posted weekly Loss of -2943.02
KovaiMedi (30% + 30%), points for BSE Sensex and -908.30 points for NSE Nifty.
ADS Diagno (8%),
Whirlpool (50%) etc. OnMondaywe witnessed gap down opening of the benchmarks
following weak global trends and after trading in red, it drifted fur-
BONUS MEET
REC Ltd. has convened board ther. BSE Sensex lost 1456.74 points to close at 52846.70 and
meeting on 30.06.22 to NSE Nifty marked deficit of 427.40 points to end the day at
consider bonus issue.
15774.40. Spiralling inflation kept global markets on their toes.
Bonus announcement On domestic front, all out selling on IT, Banking, Oil and Gas, Auto,
Rajnish Wellness (2 for 1), FMCG counters kept benchmarks on a sliding mode. Even cash
Hardwyn India (1 for 2),
market turned panicky. Market breadth remained hugely negative

EX-BONUS as Mid and Small can indices underperformed benchmarks. FIIs

Cosmo Films (1 for 2), continued to be the mega net sellers and DIIs were the net buyers
Galactico (3 for 10), for the day.
SKP Secur (1 for 1), With a negative start onTuesdayafter moving both ways, indi-
Avantel (3 for 1).
ces closed in red with minor losses. BSE Sensex marked deficit of
EX-SPLIT just 153.13 points to end the day at 52693.57 and NSE Nifty lost
DarshanOrna (5 for 1),
Ajanta Soya (5 for 1), mere 42.30 points to close at 15732.10. Reliance Industries lead
Galactico (10 for 1). Cont....
Financial Weekly

19th June 2022 to 25 th

June 2022 33
the doom and got support from Banking, Oil and Gas counters. Auto counters marked mixed trends,
telecom counters gained on reports of 5G auction plans afoot. Though Mid cap index outperformed,
Small cap index underperformed and kept the market breadth negative. FIIs were the mega net
sellers and DIIs were the net buyers for the day.
We witnessed cautious flat but negativeopenings on Wednesday, and after trading both ways,
benchmarks closed in red. While BSE Sensex lost 152.18 points to close at 52541.39, NSE Nifty
followed the footsteps and marked deficit of just 39.95 points to end the day at 15692.15. Thus we
witnessed hat trick of negative closing for the week with first three session ending in red. Reports of
recovery by China post Covid 19 dilemma, we marked short covering on Banking, Auto counters,
but selling spree on IT, FMCG, Sugar, Oil and Gas, Realty counters kept a tab on general senti-
ment. RIL also dragged down benchmarks. As Mid and Small cap indices outperformed and got
support from side market, it kept market breadth positive for the day. FIIs continued to be the net
sellers and DIIs as the net buyers for the day.
On Thursday, benchmarks opened on a positive note following short coverings from weekly
traders, it lost grip post noon to close in red with mega fall. BSE Sensex lost 1045.60 points to end
the day at 51495.79 and NSE Nifty marked deficit of 331.55 to close at 15360.60. Rate hike from
US Federal Bank kept global markets on a sliding mode and we too felt tremors. All out selling

Cont....

Nifty & Sensex Movement during the last week

Sensex Open High Low Close Diff
13-06-2022 53,184.61 53,207.54 52,527.08 52,846.70 -1,456.74
14-06-2022 52,495.94 53,095.32 52,459.48 52,693.57 -153.13
15-06-2022 52,650.41 52,867.73 52,493.36 52,541.39 -152.18
16-06-2022 53,018.91 53,142.50 51,425.48 51,495.79 -1,045.60
17-06-2022 51,181.99 51,652.83 50,921.22 51,360.42 -135.37
Net Weekly Loss -2,943.0
NSE - Nifty Open High Low Close Diff
13-Jun-22 15877.55 15886.15 15684 15774.4 -427.4
14-Jun-22 15674.25 15858 15659.45 15732.1 -42.3
15-Jun-22 15729.25 15783.65 15678.9 15692.15 -39.95
16-Jun-22 15832.25 15863.15 15335.1 15360.6 -331.55
17-Jun-22 15272.65 15400.4 15183.4 15293.5 -67.1
Net Weekly Loss -908.3
Financial Weekly

19th June 2022 to 25 th

June 2022 34
across the board forced market to dive down from the high of the day. IT, Metal, Auto, Pharma,
Consumer Goods, Capital Goods, Power sector counters lost on selling spree. Mid and Small cap
indices underperformed benchmarks and kept market breadth negative. FIIs were the net sellers
while DIIs were the net buyers for the day.
TheFriday marked negative opening and after trading both ways, it finally closed in red and thus
we witnessed clean sweep negative week. BSE Sensex marked deficit of just 135.37 points to
close at 51360.42 and NSE Nifty lost mere 67.10 points to end the day at 15293.50. Fancy indices
heavy weights lost and kept market in red. Reliance Industries lead the surge and got support from
Metal, Mining and Banking counters that curtailed the fall. IT, Consumer Durables, Cement, Oil
and Gas counters met with selling spree with every rise. Mid and Small cap indices underperformed
benchmarks and weak side market kept market breadth negative. FIIs / DIIs turned mega net sell-
ers / buyers for the day.
Dollar and Crude Oil marked high volt drama with volatile movements and posted Rs.78.10 a
dollar and118.20$ a barrel respectively, by weekend. Global Federal Banks were forced to con-
sider rate hike to curtail spiralling inflation. Global markets remained weak and FIIs continued their
mega selling on domestic markets. Delayed monsoon also raised concern. FY23 Q1 advance tax
data with other micro economic data is on radar for market men for a while and of course the global
trends will have a trigger as usual. As benchmarks have closed below the expected lower barriers,
more damage in coming week is on cards. Trading with a caution will be the order for the ensuing
week.
Amidst such scenario, BSE Sensex may hover between 53500 -49500 and NSE Nifty in the
range of 16250-14750.
DISCLAIMER : No financial information whatsoever published anywhere here should be con-
strued as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter
published here is purely for educational and information purposes only and under no circumstances
should be used for making investment decisions. Readers must consult a qualified financial advi-
sor before making any actual investment decisions, based on information published here. Any
reader taking decisions based on any information published here does so entirely at its own risk.
Investors should bear in mind that any investment in stock markets is subject to unpredictable
market-related risks. The above information is based on RHP and other documents available as of
date coupled with market perception. The author has no plans to invest in this offer.
(SEBI registered Research Analyst-Mumbai).
Financial Weekly

19th June 2022 to 25 th

June 2022 35
Kishore Purswani
(Email: [email protected])

Beating the Sensex-VII

Introduction
Peter Lynch has time and again shared in his various books that his favourite source of invest-
ment ideas is the shopping mall. In this article we shall discuss thelearnings shared by Peter Lynch
in Chapter eight "Shopping for Stocks" of his best seller "Beating the Street".

The Retail Sector:-

According to Peter Lynch hanging out at mall is a superior strategy than listening to stock broker's
advice or going through the financial magazines/new paper for identifying investment ideas. The
companies can easily be identified both by amateur and professional investors by observing the
activity at the malls or shopping places. Citing examples he says that an investment of $10,000
made in 1986 in each of popular retailers- Home Depot, The Limited and The Gap and Walmart
stores would have fetched more than $500,000 (more than 12X returns) in 1991.
Similar examples can be seen in Indian markets too. Investments made in 2017 in Avenue
Super mart (D'mart Stores), Titan, Page Industries (Jockey Innerwear), Relaxo, VIP Industries etc
would have resulted in 3 xs to 6x returns in four to five years. A keen observer could have easily
identified the increasing footfalls, business activity, and expansion of stores and further researched
these companies. This technique may not be fool proof but can certainly give investment ideas for
identifying potential multibaggers. This led to Peter's Principle #14:
"If you like the store, chances are you'll love the stock"
An investor can pick up an investment idea and wait for the story to unfold or buy a few shares
('tune in later'' category) and monitor progress. Not all stocks in such categories may perform and
an investor should not shy away from booking losses in non-performers and continue holding and
adding more of the winners. This strategy can lead to bumper gains from the investments. Employ-
ees at the malls and the managers of the malls can also be the source of excellent investment
ideas as they have privilege to more detailed information of the business of a particular brand
when compared to its peers.
The likes and habits of children can also lead to good investment ideas as children follow likes
and taste of their group, Even if a US citizen had waited until 1991 to follow their children to 'The
Gap' they could have doubled the money in that one year, beating all the major funds.
Peter Lynch took his three daughters to Burlington Mall just before the Christmas in 1992 and
they headed him to the 'Body Shop' which sold lotions and oils and it was one of three most crowded
stores besides 'The Gap' and 'Nature Company'. It was then he remembered that a young analyst

Cont..
Financial Weekly

19th June 2022 to 25 th

June 2022 36
at Fidelity had recommended this stock while another employee at Fidelity had left the lucrative job
to open a franchise of The Body Shop. On further RESEARCH he found that Magellan had bought
few shares of this company in 1989 and these were one of the many "tune in later" stocks but were
soon forgotten being one of more than 1400 stocks owned by the fund.
On further research, Peter Lynch found an interesting story. The company was started by an
ambitious housewife and the company operated initially from her garage. It went public in 1984 for
5 pence (rough 10 cents) a share and it soon transformed into an international network of fran-
chises. The company delivered 70-fold returns despite two crashes (stock lost half its value in the
Great Correction and again in Sadam sell off).
Body Shop is a socially conscious enterprise and it promotes community work through its em-
ployees, promotes health instead of beauty, and recycles its shopping bags. In the initial years of
expansion it had 92 store outlets in Canada, just 70 in US, 1 in Japan and Germany. Looking into
the population of US and Canada it had huge growth opportunity in US.Retail chains normally
expand on borrowed money but Body Shop expanded on franchises' money
The company had a good story but its PE ratio was 42 based on 1992 earnings. Further, looking
into the predictions of 30 percent growth over couple of years, the stock appeared to be still over-
valued but if the growth rate could be continued for a longer period the stock could deliver good
returns and it had an opportunity of growing worldwide with thousands of stores.
InfactBody Shop has been in India too since 2006 and has 175+ stores across the country. It has
presence in 60+ Indian cities and over 600 towns and cities through its own e-commerce channel.
Body Shop is just one out of many examples cited by the author in this chapter and the essence
is that if one loves a company but not the prices a small commitment can be made and the weightage
increased on sell off and/or continuation of the story
There are many such examples in the Indian stock markets as well. If a stock has already gone
up by say 10-fold there can be no reason why stock can't go up further. Jubilant food works has
given 35-fold returns in 10 years while Avenue Super mart has given 9-fold returns in the five
years. There are many more examples in other sectors as well namely Bajaj Finance, Tata Elxsietc
which has delivered mind boggling returns. EKI Energy servicesis a recent example which has
given 70 fold returns in just over a year.
In a retail company or a restaurant chain the growth comes from expansion which leads to better
earnings coupled with upward movement in share prices

Conclusion.
Shopping for stocks in retail sector/restaurant chain or any other sector is not difficult provided
one is ready to observe study, analyse and correlate. An amateur investor can identify a growing
opportunity by looking around at happening places and then following the story. The most impor-
tant point is that not all stocks will deliver the desired returns as such one should not shy away from
booking profits/losses if the story is not progressing well.

Happy investing!
Kishore Purswani
M No 9425604104,
Mail id: [email protected]
Note: The stocks referred in the article are to be just considered as examples based on
the views of the author. It should not be construed as an advice to buy or sell the stocks.
Financial Weekly

19th June 2022 to 25 th

June 2022 37
Scrip Watch - Siddharth Shah

Syngene (Rs. 538.00) (Code : 539268) :- Syngene International is an integrated

research, development and manufacturing services company serving the global pharmaceutical,
biotechnology, nutrition, animal health, consumer goods and specialty chemical sectors. Syngene
International's consolidated net profit fell 7.97% to Rs 147.80 crore on a 15.10% rise in revenue
from operations to Rs 758.10 crore in Q4 FY22 over Q4 FY21. On a yearly basis, consolidated net
profit declined 2.24% to Rs 395.80 crore on a 19.22% rise in revenue from operations to Rs 2,604.20
crore in FY22 over FY21. Biocon Limited is the largest shareholder with 71% of shares outstand-
ing. This essentially means that they have extensive influence, if not outright control, over the
future of the corporation. abrdn plc is the second largest shareholder owning 2.1% of common
stock, and Temasek Holdings (Private) Limited holds about 1.7% of the company stock. Invest.

Bajaj Finance (Rs. 5422.00) (Code : 500034) :- Bajaj Finance Ltd is a large cap
non-banking financial company (NBFC) with a market capitalization of Rs.3,19,891 Crore. On the
NSE, Bajaj Finance shares reached a 52-week high of Rs 8,050.00 on 19 January, 2022 and last
week, the stock fallen to its 52-week low of Rs 5256 on Thursday i.e.16th June, 2022. The stock is
now trading more than 30 per cent below its 52-week high. The stock has delivered a 52.43 per
cent CAGR over the previous ten years and a 32.71 per cent CAGR over the last five years. It is the
sector's second-largest company, and with a growth in net profit of 79.67 per cent, the company
announced good results for the quarter ended Mar 22 as it revealed a consolidated net profit for the
quarter ended March at Rs 2419.51 crore, up 79.67 per cent from Rs 1346.64 crore in the same
quarter last year. Buy.

Caplin Point (Rs. 666.00) (Code : 524742) :- Caplin Point Laboratories is a fast-
growing pharmaceutical company with a unique business model catering predominantly to emerg-
ing markets of Latin America and Africa. The company has focussed to achieve a cash balance of
Rs 1,000-1,500 crore in the next five years. Management is expecting to achieve $100 million
sales from Caplin Steriles by FY26. The company drives its revenue majorly from Latin America
which account for 87 per cent of revenue. The US and Africa contribute 9 per cent and 4 per cent to
topline respectively. The company locally manufactures 65 per cent to the product while balance
35 per cent products are manufactured in China. The company is expected to show handsome
growth in new territories led by portfolio expansion, backward integration and strong balance sheet.
The company is expected to deliver topline growth of 20 per cent over next few years. Buy. Buy
more at decline.

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

19th June 2022 to 25 th

June 2022 38
Market Tips - Het Zaveri

Hero Motocorp (Rs. 2467.00) (Code : 500182) : LIC's shareholding in Hero

MotoCorp has increased from 1,83,10,233 to 2,24,91,571 equity shares, or from 9.163 per cent to
11.256 per cent of the paid-up capital of the company. The change in holding was during the
period from January 4, 2021 to June 13, 2022. The stocks were bought through open market pur-
chases at an average cost of Rs 3,050.14. Hero MotoCorp is a leading manufacturer of motor-
cycles and scooters. At CMP of Rs.2500 plus level, the stock is at significant discount to LIC’s
purchase price. Hero MotoCorp has sold 4,86,704 two-wheelers in India in May, recording a mas-
sive 165 per cent YoY growth. Out of these 4,86,704 two-wheelers sold in May 2022, 4,52,246
units were motorcycles while the remaining 34,458 units were scooters. The stock is worth buying.
Britannia Industries (Rs. 3334.00) (Code : 500825) : Britannia reported better-
than-expected volume growth in the base business. The company posted volume growth at around
4 per cent in March quarter (Q4FY22). The country’s leading food company reported consolidated
sales growth of 15 per cent year on year (YoY) at Rs 3,508 crore and its net profit increased 4.3 per
cent year-on-year (YoY) to Rs 379.9 crore. Consolidated operating profit growth of 10 per cent YoY
at Rs 499 crore for the quarter. However, consolidated gross margin contracted by 240 basis point
(bp) YoY to 38 per cent. The lower staff cost or other expenses (-50bp/-120bp YoY) drove 60bp
contraction in EBITDA margin to 15.5 per cent. Accumulate.
AU Small Finance Bank (Rs. 623.00) (Code : 540611) : AU Small Finance Bank
is mulling a fundraise in the region of Rs 2,000 crore to Rs 3,000 crore through a QIP in the current
fiscal. In December 2019, Singapore state investment arm Temasek announced that it had com-
pleted the acquisition of a 4.8 percent stake in AU Bank after investing Rs 525 crore. This quantum
was part of a total commitment of Rs 1,000 crore made earlier. In March 2021, AU Small Finance
Bank raised Rs 625 crore through the QIP route and the markets cheered the move which saw a
strong reception from sovereign wealth funds, large foreign portfolio investors, life insurance com-
panies and domestic mutual funds. AU’s Q4 net profit was up 105 per cent at Rs.346 crore. The
stock has turned ex-bonus recently as the Bank had announced 1:1 bonus shares. The stock looks
attractive after correction. Buy.
Escorts Ltd (Rs. 1501.00) (Code : 500495) : Farm machinery and construction
equipment maker Escorts Construction Equipment Segment (ECE) in May 2022 sold 305 ma-
chines registering a growth of 96.8 percent against 155 machines sold in May 2021. Escorts has
received requisite approvals for changing its name to Escorts Kubota Ltd. The name change comes
in the wake of Japan's Kubota Corporation increasing its stake in Escorts to 44.8 per cent by sub-
scribing to new equity shares and through an open offer to the public shareholders of Escorts.
Kubota has also become a joint promoter of the company along with existing promoters, the Nanda
family, whose shareholding in the company remains unchanged. Nikhil Nanda continues to be the
Chairman and Managing Director (CMD) of the company. Buy in phased manner.

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

19th June 2022 to 25 th

June 2022 39
SMART TIPS Smita N. Zaveri
Ashok Leyland (Rs. 131.00) (Code: 500477) :- Shares of this A group listed com-
mercial vehicle manufacturer have a face value of Re. 1. The shares touched a 52-week high of
Rs. 153 and low of Rs. 93. Promoter holding in the company is 51.54%. Ashok Leyland is a leading
manufacturer of heavy and light commercial vehicles and passenger vehicles. It also operates in
engineering designing space and developing bullet-proof vehicles for security agencies. It plans
to invest Rs. 1000 crore for electric vehicles. The company has bagged orders for 2580 buses from
transport bodies in various states. It also received an order for 1,400 intermediate commercial
vehicles from Procure Box, which will be deployed for fuel distribution in 750 cities. Its equity is Rs.
293 crore and reserves Rs. 7010 crore. Ashok Leyland is seen as a re-rating candidate. It has a
market cap of Rs. 38,132 crore. For the March quarter, its consolidated income increased from Rs.
8176 crore to Rs. 9957 crore while profit fell from Rs. 374 crore to Rs. 155 crore. The stock can give
15-20% return in two to three quarters.
Engineers India (Rs. 57.00) (Code: 532178) :- Shares of this engineering design
and construction sector company are listed in the A group and have a face value of Rs. 5. The
shares touched a high of Rs. 85 and low of Rs. 57 in the last 52 weeks. The PSU has reported
average performance in the fourth quarter. The performance of both the consultancy segment and
EPS segment was average. The company aims to emerge as a total energy consultancy
organisation. Promoter holding in the company is 51.32%. The company’s equity is Rs. 281 crore
and reserves Rs. 1,489 crore. For the March quarter, EIL’s income declined from Rs. 1171 crore to
Rs. 860 crore, while profit went up from Rs. 31 crore to Rs. 122 crore. Its order book grew by 7.5%
in the quarter. Overseas projects account for 11% of its order book.
Praj Industries (Rs. 341.00) (Code: 522205) :- The company makes machinery for
sugar, ethanol, and liquor sector. The B group listed shares have a face value of Rs. 2. The shares
touched a 52-week high of Rs. 448 and low of Rs. 289. It has a market cap of Rs. 6525 crore. Praj
Industries has benefited from the excellent performance of sugar sector in recent years. Promoter
holding in the company is 32.83%. For the March quarter, consolidated income jumped 46% to Rs.
829 crore, while profit was up over 10.4% to Rs. 57.65 crore. Its equity is Rs. 36 crore and reserves
Rs. 765 crore. Mutual funds hold 8.27% stake in the company, and FIIs 14.98%. Demand for etha-
nol is expected to rise due to increased biofuel blending in petrol, and Praj is likely to bag large
orders from ethanol makers. Considering the changing sugar cycle, investors can put money in
this stock in tranches with a long-term view.
Lemon Tree Hotels (Rs. 62.00) (Code: 541233) :- Shares of this A Group listed
hotel company touched a 52-week high of Rs. 71 and low of Rs. 36. The hospitality sector bore the
brunt of the Covid-19 pandemic. There were concerns that 40% of rooms in leading hotels would
shut down because of the crisis. Large-scale consolidation was also expected in the industry.
Lemon Tree is positioned as a mid-segment hotel. Promoter holding in the company is 23.95%. It
has a market cap of Rs. 4907 crore. Its equity is Rs. 790 crore and reserves Rs. 40 crore. For the
March quarter, it reported income of Rs. 37.18 crore and net loss of Rs. 2.63 crore. The company is
likely to report turnaround results in the June quarter. The stock can be a good pick for the short to
medium term.

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 17th June, 2022 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

19th June 2022 to 25 th

June 2022 40
Smart super duper - Het Zaveri

Finolex Cable (Rs.363.00) (Code: 500144) :- One of the strongest brands in

cable market Finolex owns manufacturing units in Pune, Goa and Uttarakhand. The com-
pany is also active in polyvinyl chloride sheets, roofing signage and interior sectors. The
company holds considerable market share in cable market and it is also planning to launch
other products. As against equity of Rs. 30.59 crore, the company has reserves of Rs. 3891
crore. In March quarter, the company recorded net profit of Rs. 224crore on income of Rs.
1187 crore.The stock seems good option for investment at current market rate. It paid 275%
dividend for FY2021, and has declared 300% dividend for FY2022.
Delta Corp (Rs. 184.00) (Code: 532848) :- The promoters hold 33.23% and public
hold 66.77% stake in the company. As against equity of Rs. 27.09 crore the company has
reserves of Rs. 1995 crore. In March quarter, the company's income increased from Rs.
211crore to Rs. 218crore, while profit decreased from Rs. 58crore to Rs. 48crore. The
company owns casino with rooms in Goa and Sikkim. The casino business is getting stron-
ger and is witnessing good growth as tourism sector is reviving. The company also plans to
set up casino at different locations and also a mega amusement park in Goa, which may
become gamechanger for the company. With international flights resuming from March end,
Goa may regain the international tourists. Its subsidiary active in online gaming has started
process for IPO.
Pittin Engineering (Rs. 322.00) (Code: 513519) :-The company was set up in
1983. It has earned reputation in filed of electrical steel lamination, motor course, sub as-
sembly, dye cast rotors and press tools. It supplies its products to hydro and thermal power
generation, windmill, mining, cement, sugar, steel, construction, lift irrigation, freight rail,
passenger rail, mass urban transport, appliances, medical equipment, oil and gas and other
industries. As against equity of Rs. 16.03 crore, the company has reserves of Rs. 268 crore.
In March quarter, the company's income increased by 59.32% to Rs. 271.39 crore, while
profit witnessed a spurt of 80.32% at Rs. 51.86 crore. The stock is being quoted at PE of just
20 at current rate. It seems to be good option for investment.
Sona BLW (Rs. 566.00) (Code: 543300) :- It is precision Forging Automotive
Technology Company which was set up in 1995. It has total nine manufacturing facilities.
Along with supplying products in India, it also exports products in USA, Europe and China in
big way. It came up with IPO in June 2021 at price of Rs. 291 and gave handsome returns on
listing. In March quarter, the company's income was Rs. 498 crore, operating profit Rs. 118
crore and net profit Rs. 124crore. The company supplies products in electrical vehicles. The
company's majority income comes from EV segment, so it may get benefit in the future as
well. The stock may seem costly, but it is good option for investment for long term at little
correction from current price.

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

19th June 2022 to 25 th

June 2022 41
Di wan-E-Khas A.J. Diwan (Mumbai)
E-mail : [email protected]

The stock market is only for

the BRAVE investors
We had Covid fall than Ukraine fall and now inflation has crippled markets. We had pre-
dicted 15750 for nifty but this taken out to close 15350 on last Thursday. Thursday DOW
closing indicates 15000 may be taken out. It is surprising that when US Fed increased rate
DOW and NASDAQ were up by 350/400 points. FED talked of negative and gave hint of
further increase in Month of July. In US recession is also possible. Markets took it very
negative statement and DOW crashed by 900 points.
Last Diwali Investors wished 75000 Index in greetings. This time world economy fall
sharply
Delta Corp :- What a manipulation? Last Tuesday there was news that HDFC has in-
creased stack by 2.5% in the company. Share price went up by Rs.9. On last Thursday there
was news that big bull sold 75 lakhs shares in fist 14 days of June as resist share price
nosedived by Rs 10. How can one believe that selling by big bull was not known on Tues-
day? Now Rs.1 57 is last support. Buy only above Rs.180
Zomato is just like old leasing companies no assets and working on commission..
Big blunder by government in LIC issue. Investors lost.
Hidalco was down in bull markets also. Now if 325 is broken, Chance to get near 300.
Higher inflation should reduce purchasing power of people so share of consumer durable
may come down with Tata consumer, DLF and Real estate shares etc
Under circumstances buy for long term REC below 110. PFC around 95.
Any further fall buy Mahindra.
Tatasteel has crashed, Only Himatwala should buy on further fall.
Financial Weekly

19th June 2022 to 25 th

June 2022 42
Investment Ideas Nayan Patel

HERANBA INDUSTRIES LTD

(543266 & NSE) (520.75) (Face Value: Rs.10)
Heranba is a leading agrochemical company in India. Heranba's mission is to improve
Crop Productivity and Public Health. It is committed to the wellness of world citizens. Heranba
manufacturers Synthetic Pyrethroids and its intermediates in India. It has 4 (four) manufac-
turing facilities across India with employee strength of more than 650. It has a wide network
of businesses in India as well as across the globe. Heranba has expertise on all the key
chemical reactions on commercial scale.
HIL has an equity base of Rs.40.01 crore that is supported by reserves of around Rs.674.45
crore. The promoters hold 74.77% of the equity capital, which leaves 25.23% stake for the
investing public.
During FY22 it has reported superb numbers. For Q4FY22, HIL posted PAT of Rs.42.58
crore as against Rs.43.20 crore in Q4FY21 on 30.73% higher sales of Rs.350.14 crore
fetching an EPS of Rs.10.64. For FY22, HIL posted 22.58% higher PAT of Rs.189.06 crore
as against PAT of Rs.154.23 crore in FY21 on 19.01% higher sales of Rs.1450.37 crore and
an EPS of Rs.47.25.
At CMP, HIL trades at P/E ratio of 11x. It paid 20% dividend for FY22.
Mr. Raghuram K. Shetty, Managing Director of Heranba Industries Limited, commented, "I
am pleased to announce that we have reported a strong set of numbers for the fiscal year
2021-22, wherein we saw an increase of 19% in our revenues and of 23% in our PAT num-
bers on a year-on-year basis. This along with EBITDA margin being in the guided range of
18% to 20%, we are set to carry the momentum in FY23." He added- "Leveraging our inte-
grated manufacturing facilities and wide distribution network, we are in pursuit of expanding
our already diverse customer case by accelerating our product registrations across the
globe in order to continue Heranba's growth momentum." Investors can watch this stock with
a stop loss of Rs.475.
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 pur-
chases 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

19th June 2022 to 25 th

June 2022 43
Primary Market - Dilip K. Shah
From India to US, Europe, Asia, Share Markets crashed - From Wall Street to Dalal Street: bloodbath Everywhere
Due to adverse impact of secondary market not a new IPO entered the market in June despite presence of 08 IPOs in May
Investors are leaving the market as the wealth got eroded in start up issues and LIC IPO
Amid uncertainty, the market touches the bottom leading to cancellation of IPOs by companies
This week 1 SME, 4 Rights and 1 NCDs issues are in the market
Goel Food Products BSE SME IPO got 0.99 times subscription: will close on June 20
Silver Pearl Hospitality's IPO got listed with discount
Satyam Silk Mill's Rs. 3.68 crore Rights Issue with offer price of Rs. 18 opened on June 16
Next week Kallam Textiles' Rights Issue will open on June 23 and Saboo Sodium's on June 27
Indel Money's Rs. 50 crore NCDs issue has got 1.37 times subscription: Will close on June 22
Share Markets across the globe starting from India to US, Europe, Asia has collapsed. Impact of poor
economy or slowdown, aggressive selling by foreign investors, rate hike by Federal Bank followed by
ECB, crude price hike, increasing cases of CORONA, depreciation of rupee against dollar have been
cited as the reason for the crash.
The Indian Share Markets have touched bottom leading to erosion in the wealth of the shareholders.
As a results, none of the companies have entered the market with IPO in June. It should be noted that
investors are keeping distance from the market due to erosion in their wealth in start up IPOs like Zomato,
PayTM, CarTrade, PB Fintech, Delhiveryetc and LIC. Investors lost around Rs. 80,000 crore in LIC IPO
making it the second worst IPO in Asia.
In such situation, PhonePe, Nandan Terry, Uma Converter have to postpone their IPOs.
* SME IPOs:-
• Scarnose International :- Issue of Rs. 6.60 crore with fixed price of Rs. 55 opened on June 14 and

Rights Issue
Sr Company Issue Open Dt. Issue size Offer price Ratio & Listing Lead Manager /
Issue Close Dt. (Rs. Cr.) (Rs.) Record Dt. Registrar
1. Davangere 16-6-2022 3.84 Cr. Shares 12.50 69 Shares for every BSE Saffron Capital
Sugar 30-6-2022 (Rs. 48.00 Cr.) (F.V. Rs. 10) 100 fully paid shares Integrated (R)
held on 27-5-2022
2. Satyam Silk 16-6-2022 0.37 Cr. Shares 10 5 Shares for every BSE --
Mills 1-7-2022 (Rs. 3.68 Cr.) (F.V. Rs. 10) 1 fully paid shares Linkintime (R)
held on 6-6-2022
3. Kallam 23-6-2022 1.00 Cr. Shares 10 7 Shares for every BSE SMC Capital
Textiles 7-7-2022 (Rs. 9.99 Cr.) (F.V. Rs. 2) 30 fully paid shares Bigshare Services
held on 3-6-2022
4. Saboo 27-6-2022 1.79 Cr. Shares 10 74 Shares for every BSE --
Sodium 26-7-2022 (Rs. 17.90 Cr.) (F.V. Rs. 10) 100 fully paid shares NSE
held on 16-6-2022

BSE SME IPO

Sr Company Open Dt. Issue size Offer price Minimum Lead Rating Remark
Close Dt. (Rs. Cr.) (Rs.) Applications Size Manager (Out of 50%) %
1. Goel Food 15-6-2022 10,01,600 Eq. 72 1600 Eq. Shares Gretex 32% : Avoid
Products 20-6-2022 (Rs. 7.21 Cr.) (Rs. 1,15,200) Corporate (Fully Priced)
Fresh : 5,00,800 Eq.
OFS : 5,00,800 Eq. Cont...
Financial Weekly

19th June 2022 to 25 th

June 2022 44
Scarnose Intl BSE SME IPO got 2.22x subscription on last day
DevanereSuguar's Rights Issue to close on June 30
Muthoot Finance's NCDs closed with 4.10x subscription on June 17
Bharat FIH gets SEBI nod for Rs. 5000 crore combo issue
Keystone Realtors'sfiles DRHP for Rs. 850 crore IPO under Rustamji Brand
Phonepe, Mandan Terry postpones IPO plans
Mecleod Pharma, TBO Tek, Suraj Estate Dev get SEBI approval for IPO
Delat Gaming files DRHP for Rs. 550 crore IPO

Non Convertible Debenture (NCDs) Issues at a Glance

Sr Company Issue Open Bond size F.Value Min. Listing Rating Recomm.
Issue Close (Rs. Cr.) (Rs.) App.
1. Indel 27-5-2022 Base Size Rs.50 Cr. 1,000/- 10 NCDs BSE Acuite BBB+/Stable
Money 22-6-2022 with an option to Retain (Rs.10,000) by Acuite RISKY
Oversubscription up to Lead manager :
Rs. 50 Cr. Vivro Financial
(Aggregating up to Rs.
100 Cr.)

Listing Information of closed on June 17 with 2.22 times subscription. It will get listed on June 27.
Silver Pearl Hospital • Goel Food Products :- The issue with fixed price of Rs. 72 has got 0.99
BSE SME IPO 543536
Listing Date 17-6-2022 times subscription on third day. More analysis was given in the last edition.
Offer Price Rs. 18.00 As it is fully priced IPO, it is advisable to stay away from it.
Listing Price Rs.16.00 • Silver Pearl Hospitality (543536) :- The issue with fixed price of Rs. 18
Listing Day High Rs.16.00
Listing Day Low Rs.15.20 got listed on June 17 at Rs. 16 and went down further to close at Rs. 15.20.
Listing Day Close Rs. 15.20 * Rights Issues :- Total Four Rights Issues are in the market, of which

Subscription figure of analysis of Davangere Sugar was given last week, while analysis of
Muthoot Finance Kallam Textiles and Saboo Sodium will be given next week.
Category No.of Bond Issue • Satyam Silk Mills :- The issue of Rs. 3.68 crore with offer price
(Issue Closed on Offered/ Subscribed of Rs. 10 has opened on June 16 and will close on July 1. Analysis
17-6-2022) Reserved 17-6-22
is given in separate box. It will get listed on BSE. It has not got traded
Cat.1 (Inst.) 37,500 0.00x
Cat.2 (Non Inst.) 37,500 2.24x after 2005. Moreover, after losses of two years the profit in the last
Category 3 (HNI) 3,00,000 3.47x year sounds alarming. It is advisable to stay away from it.
Category 4 (R) 3,75,000 5.20x
* NCDs issues:-
Total 7,50,000 4.10x
• Muthoot Finance :- Issue with total size of Rs. 300 crore closed
Subscription figure of on June 17 with 4.10 times subscription.
Indel Money • Indel Money :-The issue with base price of Rs. 50 crore and
Category No.of Bond Issue total size of Rs. 100 crore has got 1.37 times subscription as on
Offered/ Subscribed June 17. It will close on June 22. The issue has got BBB+ rating
Reserved 17-6-222
which is risky for investors.
Cat.1 (QIB) 50,000 0.00x
Cat.2 (NII) 2,00,000 1.36x * Insight into upcoming mainboard IPOs:-
Category 3 2,50,000 1.64x • Bharat FIH :- The manufacturer of Xiaomi and Nokia phone and
Total 5,00,000 1.37x subsidiary of FIH Mobiles and Foxconn Technology Group Bharat
Cont...
Financial Weekly

19th June 2022 to 25 th

June 2022 45
IPOs of Gujarat-based companies, which entered the
market in last one and a half year- out-performed Market
Currently Indian and global share markets have cor- The Gujarat-based company has
rected a lot and market is highly volatile. However, Gujarat- given attractive returns to investors
Co. Name Offer CMP Ch.
based companies that entered the market in last one and Price 17-6-22 (%)
Adani Wilmar 230 582 153.04
a half year has out-performed others. Some of the recently
Tatva Chintan 1083 2197 102.86
launched public issues like Tatva Chintan Pharma, Adani Rolex Rings 900 1395 55.00
Ami Organics 610 864 41.64
Wilmar, Ami Organics, Rolex Rings and Exxaro Tiles have Aether Ind. 642 768 19.63
Anupam Rasayan 555 559 0.72
given much better return than the most awaited IPOs that
Venus Pipes 326 328 0.61
got listed recently at the Indian bourses.Tatva Chintan

shares have delivered up to 175 per cent post-listing. Adani Wilmar has delivered up to 280 per
cent return to its investors in near 4 months of share listing. Rolex Rings has given up to 80 per
cent return to its allottees in near 10 months of its share listing. Ami Organics has given around
46 per cent returns to shareholders. According to analysts, all these IPO have entered market in
post-covid period and all have performed well on financial front. Majority of the companies are
from specialty chemicals sector, which promises a good future so the stock of these companies
haven't been affected by the correction and positive sentiments have been maintained. Though
the shares are trading at lower level, their revenue is positive.

FIH has obtained SEBI nod for Rs. 5000 crore IPO including fresh issue of Rs. 2502 crore and OFS of
Rs. 2502 crore.
• Keystone Realtors Ltd has filed DRHP with SEBI :- Mumbai-based real estate player Keystone
Realtors Ltd has filed DRHP with SEBI for Rs. 850 crore under Rustamji brand Realtors Micro. It has
completed 32 projects and is working on 12 projects including gated communities and residential projects.
* PhonePe and Nandan Terry postponed IPOs:-
• PhonePe :- PhonPe was set up in 2015 and then Flipkart acquired it in 2016 and it became part of
Tentative Timetable for WallMart. Currently Flipkart owns 87% and WallMart owns 10% stake in
SME IPOs the company. It has postponed the IPO till the company becomes profit-
IPOs Name Scarnose Goel Food able.
BSE SME BSE SME
Issue Closes date 17-6-22 20-6-22 • Nandan Terry :- Chiripal Group filed DRHP for Rs. 255 crore IPO but
Basis of Allotment 22-6-22 23-6-22 withdrew it.
Refunds 23-6-22 24-6-22
Credit of Shares 24-6-22 27-6-22 • Mcleods Pharma, TBO Tek, Suraj Estate got SEBI nod for IPO.
Listing 27-6-22 28-6-22 • Delta Gaming :- Casino Operator Delta Corp's subsidiary has filed

Subscription Figures of SME IPO (Dt. 17-6-2022) DRHP for Rs. 300 crore fresh issue and OFS
IPO Listing Day Subscribed of Rs. 250 crore.
Scarnose International BSE SME Issue Closed on 17-6-2022 2.22x
Goel Food Products BSE SME 3rd Day Subscribed 0.99x
***
Financial Weekly

19th June 2022 to 25 th

June 2022 46
Best 16 IPOs of 5 years that gave
double digit returns to investors
Post Covid-19 pandemic two successful IPOs returned on the bullish wave and that
include Rossari Biotech and Mindspace. Rossari Biotech shares witnessed a spurt of 77%
on the listing day gaining attraction of investors but it gave more returns than listing gain.
Here, analysis of 16 IPOs is given which entered the market in last five years and has
given double return in last one year.

Co. Name Issue Price Issue Size Offer Listing Listing Price CMP

(Rs. Cr.) Price Date Price After 17 June

1 Year 2022

Avenue Supermarts 8-10 March-17 1870.00 299.00 21-3-2017 641.60 1339.60 3501.00

Shankara Building 22-24 March 17 345.00 460.00 5-4-2017 632.45 1805.10 686.00

Quess Corp. 29-1 July 2016 404.97 317.00 12-7-2016 503.10 918.75 604.00

Salasar Techno 12-17 July 2017 35.95 108.00 25-7-2017 262.50 294.40 254.00

RBL Bank 19-23 Aug. 2016 1212.97 225.00 31-8-2016 299.40 544.60 80.00

PSP Projects 16-19 May 2017 211.68 210.00 29-5-2017 199.50 505.10 488.70

Sheela Foam 29-1 Dec. 2016 510.00 730.00 9-12-2016 1032.00 752.30 2635.00

Dilip Buildcon 1-3 August 2016 653.98 219.00 11-8-2016 251.75 521.45 203.00

Mahanagar Gas 21-23 June 2016 1039.64 421.00 1-7-2016 520.30 992.40 705.00

APEX Frozen 22-24 Aug. 2017 152.25 175.00 4-9-2017 212.10 409.10 246.75

Endurance Techno 5-7 Oct. 2017 1161.73 472.00 19-10-2016 570.00 1350.00 1248.00

Bharart Wire Ropes 18-22 March 2017 70.00 45.00 1-4-2016 47.35 105.00 57.25

Astron Paper 15-20 Dec. 2017 70.00 50.00 29-12-2017 50.00 110.00 36.75

Infibeam 21-23 March 2016 450.00 432.00 4-4-2016 458.00 950.00 138.00

IndiaMart 24-26 June 2019 475.59 973.00 4-7-2019 1180.00 2400.00 3902.00

Neogen Chemical 24-26 April 2019 132.35 215.00 8-5-2019 251.00 415.00 1351.00
Financial Weekly

19th June 2022 to 25 th

June 2022 47
Satyam Silk Mills Limited Rights Issue
Openes on 16th June & Closes on 1st July
Offer price Rs. 10 per Share; Listing on BSE
BSE Code : 503893 • CMP : 3.48 • H : 3.48 / L : 3.48
Entitlement 5:1, Promoter holding 30.37%, 52 Wk H/L: 3.48
It has posted losses for FY20 & FY21 & revenue has gone down
Sudden jump in financial performance of FY22 it's come to other income
Company is asking 200% premium to its 52 week high / low prices
Share holders may give clear avoid to this rights issue
Satyam Silk Mills Limited is engaged in the business of real estate renting. The company has
invested in properties throughout Mumbai, Maharashtra, which it rents out to others to create rental
income. Satyam Silk Mills is headquartered in Mumbai. Financial Performance : Consolidated Basis
Issue Details Particulars (Rs. Cr.) FY20 FY21 FY22
th
• Issue Opens on 16 June 2022 & Total Revenue 0.06 0.03 8.40
Profit After Tax -0.29 -0.33 6.83
Closes on 1st July 2022
• Object of the Issue : To part finance incremental Working Capital of the Company, General corpo-
rate purposes.
• Issue Size : 0.37 Cr. Shares (Rs. 3.68 Cr.)
• Face Value Rs. 10 • Issue Price : Rs. 10.00 per Share
• Market Lot : 1 per Share • Listing on BSE
• Terms of payment : The entire amount of the Issue Price of Rs 10 per Rights Equity Share shall be
payable at the time of Application.
• Entitlement : 5 Rights Equity Shares for every 1 fully paid-up Equity Shares held on the Record
Date 6-6-2022
• Registrar : Link Intime India pvt. Ltd.
• Pre IPO Equity Capital Rs. 0.74 Cr.
• Post IPO Equity Capital Rs. 4.41 Cr.
• Last Quote Rs. 3.80 (4-7-2005),
• Since then it has marked 52 Wk High : 3.48 / L : 3.48
• Last Closed Rs. 3.48 (4-7-2005)
• Promoter Holding : 30.37%
• Post Market Cap Rs. 1.54 Cr.)
Recommendation : It has posted poor performance during FY20 - FY21 with
decrease in revenue & increase in losses. Super performance of FY22 is surprising
and due to other income. Promoter holding 30.37% it's very low. It is not traded on
BSE since July 2005. Its 52 week High / Low price is Rs. 3.48 & rights offer price is
Rs. 10. In other world company is asking around 200% premium. Shareholders may
give clear avoid this rights issue.
Financial Weekly

19th June 2022 to 25 th

June 2022 48
Smart Best Buy S. N. Zaveri

Siemens to move ahead on Capex on Strong order book

Apar Industries : Solid business, highest-ever quarterly revenue
Varun Beverages : Quarterly results are expected to be robust
Navin Fluorine : Many brokerages bullish on this counter
Grasim Industries : Fundamentals strong, Buy
Siemens (Rs. 2326.00) (Code : 500550) :- When companies face severe cost
pressures, they tend to postpone their capital expenditure (capex) decisions, which does not
bode well for the capital goods sector. The capital goods company is confident of the de-
mand momentum being sustained for 6-12 months. Demand growth has been robust across
verticals and the company does not perceive any risk of slowdown, the Siemens’s manage-
ment said at its H1FY11 analysts meeting on 10 June. The firm follows the October to
September financial year. The optimism stems from strong order inflows. For 1HFY22, new
orders at Rs 10,640 crore, rose 63% year-on-year. The order backlog of Rs 17,170 crore
was the highest ever. This was aided by short- and medium-cycle orders, as well as large
orders from the Pune Metro and Vande Bharat train services. Tendering remains robust in
both government and private segments, with a strong uptick in digitalisation. The underlying
order inflows for Siemens are adequate to exceed Rs 18,000 crore for FY22. Buy.
Apar Industries (Rs. 920.00) (Code : 532259) :- Apar Industries operates in the
diverse fields of electrical and metallurgical engineering. The company is one among the top
3 global leaders in conductors and the 4th largest global transformer oil manufacturer, the
largest domestic cable manufacturer in the renewables sector, and a leading player in auto
lubricants. For Q4FY22, the company reported highest-ever quarterly revenue, up 58 per
cent year on year (YoY) at Rs 3,018 crore, driven by strong volume growth across seg-
ments. Profit after tax jumped 73 per cent YoY at Rs 83 crore. Ebitda was up 70 per cent YoY
at Rs 181 crore and ebitda margin was up 43 bps YoY to 6 per cent versus 5.6 per cent in
Q4FY21. The stock has seen huge rally in recent times. Buy on any dips.
Varun Beverages (Rs. 751.00) (Code : 540180) :- Shares of Varun Beverages
(VBL) hit a record high of Rs 805.45, soaring 5 per cent on the BSE in Wednesday's intra-day
trade. However, the stock corrected in last two trading sessons of the week. In the past
three months, VBL has outperformed the market by surging nearly 35 per cent, as compared
to 7 per cent decline in the benchmark index. VBL went ex-bonus on June 6th, in the ratio of
1:2, increasing its equity shares to 649.5 million post issue. For January-March quarter
(Q1CY22), VBL posted robust 26.2 per cent year-on-year (YoY) sales growth, supported by
Cont...
Financial Weekly

19th June 2022 to 25 th

June 2022 49
strong 19 per cent YoY volume growth across geographies, and 6 per cent YoY higher
realization. Volume growth was led by the early onset of summer in India, translating into
higher demand. Despite increase in input costs, Ebitda margin improved by 175 bps to 18.8
per cent. Net profit doubled or advanced 98.2 per cent YoY to Rs 271 crore from Rs 137
crore. Next results are expected to be robust. Buy.
Navin Fluorine (Rs. 3549.00) (Code : 532504) :- Navin Fluorine International is
one of the manufacturers of speciality fluorochemicals. All segments namely CRAMS, spe-
cialty chemicals, inorganic fluorides and refrigerant gases witnessed a y-o-y revenue in-
crease in the fourth quarter. On the other hand, elevated raw material costs and high operat-
ing costs. Many brokerages have retained its Buy rating on Navin Fluorine on the back of
earnings visibility, given long-term contracts, tilt in sales mix towards high-margin high-
value business, capacity expansion led growth, and strong R&D infrastructure. On a consoli-
dated basis, Navin Fluorine International net profit dropped 72.9% to Rs 73.22 crore on
21.6% rise in net sales to Rs 336.43 crore in Q4 March 2021 over Q4 March 2020. Accumu-
late.
Grasim Industries (Rs. 1290.00) (Code : 500300) :- Grasim Industries stock
has corrected amid overall market correction. It is a good opportunity to enter into this
counter as there is no fundamental change in the company. Grasim has recently announced
that it has doubled the capital expenditure for its entry into the paints business to Rs 10,000
crore and could start production from March quarter of FY24. analysts with brokerage Jefferies
terming it as a 'Jio Moment' for the Indian paint industry. Other cement stocks have been
also impacted on this announcement which shows its significance. Meanwhile, Grasim re-
ported a 55.56 per cent jump in its consolidated net profit at Rs 4,070.46 crore for the fourth
quarter ended March 2022.Its revenue from operations was up 18.07 per cent at Rs 28,811.39
crore during the quarter under review as against Rs 24,401.45 crore. Buy in phased manner.

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 17th June, 2022 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

19th June 2022 to 25 th

June 2022 50
Dalal Street Whispers Dilip K. Shah

Delta Corp (Rs. 184.00) (Code: 532848) :- This casino, amusement park, and gam-
ing company’s subsidiary Delta Tech Gaming has filed its DRHP for a Rs. 550 crore IPO. This will
include issue of fresh shares of Rs. 300 crore and offer for sale of Rs. 250 crore. The IPO will allow
Delta Corp to unlock value.

Bajaj Auto (Rs. 3632.00) (Code: 532977) :- The board of this 2 & 3-wheeler com-
pany is slated to meet on June 27 to consider a share buyback proposal. The meeting was earlier
scheduled for June 14.

Bajaj Holdings (Rs. 4478.00) (Code: 500490) :- Bajaj Holdings owns a 33% stake
or 9.75 crore shares of Bajaj Auto and could tender some shares in the buyback offer.

NBCC (Rs. 29.00) (Code: 534309) :- This PSU has bagged Rs. 330 crore orders in
May, adding current to the stock.

Voltas (Rs. 955.00) (Code: 500575) :- HDFC Mutual Fund has acquired 0.30% stake
in the company in June.

Ahluwalia Contracts (Rs. 391.00) (Code: 532811) :- The company’s joint ven-
ture has bagged an order of Rs. 630.95 crore for the construction of the national police academy in
Nepal. It had earlier bagged Rs. 162 crore order for construction of Assam Bhavan in Delhi.

PVR (Rs. 1697.00) (Code: 532689) :- PVR Cinemas, the country’s largest cinema
exhibition company, has launched a 4-screen multiplex in VRC City Mall in Patiala, Punjab. With
this, PVR now has 63 screens in 12 properties in Punjab.

Reliance Industries (Rs. 2589.00) (Code: 500325) :- Global brokerage house JP

Morgan has upgraded its rating on Reliance Industries from heavyweight to overweight and given
a target price of Rs. 3170 on the stock, which suggests a 21% upside from the current levels.
Reliance Industries has done well in its refining business and also in the non-energy business.

Indian Hotels (Rs. 213.00) (Code: 500850) :- Indian Hotels’ Taj has been rated the
world’s strongest hotel brand while Hilton has retained its rank as the most valuable hotel brand,
according to brand valuation consultancy Brand Finance.

NTPC (Rs. 140.00) (Code: 532555) :- The country’s largest power producer has com-
missioned a 15 MW solar PV project at Kawas.

Hero Moto (Rs. 2467.000 (Code: 500182) :- LIC has increased its stake in this two-
wheeler company from 9.163% to 11.256%.
Cont.....
Financial Weekly

19th June 2022 to 25 th

June 2022 51
HUL (Rs. 2112.00) (Code: 500696) :- LIC has increased its stake in this leading FMCG
company from 4.995% to 5.008%.

Cipla (Rs. 915.00) (Code: 500087) :- Cipla, along with the Drugs for Neglected Dis-
eases initiative (DNDi), has launched a 4-in-1 combination of four antiretroviral treatments for chil-
dren with HIV in South Africa.

IRB Infra (Rs. 196.00) (Code: 532947) :- The company has achieved financial clo-
sure for the Rs. 6538 crore Ganga Expressway project connecting Meerut and Budaun.

Jyothy Labs (Rs. 153.00) (Code: 532926) :- Nalanda India Equity Fund has ac-
quired 6.55 lakh shares in this FMGC company through open market transactions.

NBCC (Rs. 28.00) (Code: 534309) :- This PSU construction company bagged Rs. 330
crore orders in May.

Tata Power (Rs. 210.00) (Code: 500400) :- The company has commissioned a 66
MW EPC project for Vibrant Energy.

ONGC (Rs. 141.00) (Code: 500312) :- Fitch Ratings has revised the outlook of this
PSU oil and gas producer from negative to stable.

Axis Bank (Rs. 635.00) (Code: 532215) :- Fitch Ratings has revised the outlook on
the long-term issuer default ratings of the bank from negative to stable.

UPL (Rs. 665.00) (Code: 512070) :- UPL, through its wholly-owned subsidiary UPL
Speciality Chemicals, has acquired 100% stake in Kudos Chemie for Rs. 40 crore.

Sun TV (Rs. 433.00) (Code : 532733) :- Brokerage firm Kotak Institutional Equities
upgraded its recommendation to BUY from Reduced with an estimate of 32% upside from recent
price. The brokerage firm expects earnings per share of the IPL team to nearly triple over the next
two years to Rs 6.5 per share. Reacting to this, the stock gained momentum and might continue for
short term to mid-term period.

Ritesh Properties (Rs. 360.00) (Code : 526407) :- Ritesh Propererties’s com-

pany board approved sub-division of equity share having face value of Rs 10 each fully paid up
into equity shares having face value of Re 1 each. The company’s standalone net profit jumped
10.1% to Rs 5.79 crore on 54.3% surge in net sales to Rs 28.98 crore in Q4 FY22 over Q4 FY21.
Considering good financial results along with the stock split offer investors can take benefit of it by
investing for short term period.

Cont.....
Financial Weekly

19th June 2022 to 25 th

June 2022 52
Finotex Chemical (Rs. 164.00) (Code : 533333) :- Finotex Chemical’s promoter
Sanjay Tibrewala acquires additional 1 lakh shares in the company via open market. Promoter’s
shareholding increases to 3.06% from 2.97%. Reacting to which the stock might gain momentum
for short term period.

Sukhjit Starch (Rs. 418.00) (Code : 524542) :- The Sukhjit Starch and Chemicals
Ltd has successfully commissioned Hydrogen Generating Plant from Biogas produced from biom-
ass / process effluent at its new manufacturing unit commissioned at Phagwara (Punjab). Cur-
rently the Hydrogen produced will be used for company’s own usages only. Considering the foray
of company into Hydrogen production through Biogas, the stock is recommended for mid-term
period.

TCS (Rs. 3089.00) (Code : 532540) :- The IT major TCS partnered with QIAGEN, a
leading global provider of Sample to Insights solutions in life sciences and molecular diagnostics
for its cloud transformation journey. Tata Consultancy Services (TCS) has already been working
closely with QIAGEN since 2012 and managing the company's IT services and digital transforma-
tion across key business areas.Considering this new partnership by TCS and company being one
of the best IT companies’ across the globe, investors can accumulate in dips for long term period.

Dredging Corp (Rs. 275.00) (Code : 523618) :- Dredging corp secured a mainte-
nance dredging contract worth Rs 250 crore per year from Jawaharlal Nehru Port Authority (JNPA).
Reacting to this, the stock gained momentum and might continue for short term period.

Paytm (Rs. 629.00) (Code : 543396) :- Paytm’s Loan disbursements jumped 471 %
on-year in April-May to 5.5 million. Paytm reported strong growth as merchant payments volume
rose 100 % on-year with the gross merchant value processed hitting Rs 1.96 lakh crore in the past
two months. Reacting to this, the stock gained momentum and might continue for mid-term period.

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

19th June 2022 to 25 th

June 2022 53
Investor’s Third Eye
Smt. Dr. Hemavathy / Padmanaban (Chennai)
E-mail : [email protected]

Astrological planetary predictions

FOR STOCK MARKET INVESTMENTS
(From 20th June to 26th June 2022)
In this week Juptier and Mars in Pisces, Rahu in aries, Mercury and venus in Taurus, Sun in
Gemini, Saturn in Capricorn, Moon in Aquarius, Pisces and Aries. On 20th June and 21st June
2022. Rahu in Aries taking seventh position towards Ketu in libra may bring volatility in the market.
On 22nd June 2022 and 23rd June 2022, The conjunction of mars, Jupiter, Moon in Pisces taking
eleventh position towards Saturn in Capricorn may favour the market. On 24th June 2022, The
conjunction of moon and Rahu in Aries taking seventh position towards Ketu in Libra may bring
volataltity in the market. Information technology, Battery manufacturing firms, Paper industry, agro
based products, seed production firms, FMCG, Pharmaceuticals and health industry may favor the
market. Tata Elxsi. IRCTC, Just Dial, Car trade Tech, Triveni Engineering, Shree Renuka Sugars,
Dixon Technologies may see good movement in the stock prices.

GOLD PRICE MOVEMENTS

(From 20th June to 26th June 2022)

20th June 2022 and 21st June 2022 : Moon in Aquarius taking second position towards
Jupiter in Pisces may favor the market
22nd June and 23rd June 2022 : The conjunction of Mercury and Venus in Taurus taking
eleventh position towards Moon, Jupiter and Mars in Pisces may favor the market
24th June 2022 : The conjunction of mars and Rahu in aries taking seventh position
towards ketu in Libra may favor the market
Financial Weekly

19th June 2022 to 25 th

June 2022 54
Senior Astrologer
Dharmesh Joshi

Mob. : 9909941816 • E-mail : [email protected]

Sensex Predictions
Dt : 20th June 2022 to 24th June 2022
" 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.

20-06-2022 Monday
" Jobbing can be done at the micro-level from opening till 10.10. " However, from 10.10 to 11.11,
there is a chance of slight recovery. " You may feel like Nifty has remained stable between 11.11
to 13.13. " The time slot for upside jobbing can be between 13.13 to 15.15. " The last 15 minutes
are likely to be profit booking.

21-06-2022 Tuesday
" Ganesha thinks that today 3 trading can be done in which you can expect both profit and loss.
" Trade - 1 = Buy Nifty around 10.00 and exit around 10.50. " Trade - 2 = Buy Nifty around 13.00
and exit around 14.00. " Trade - 3 = Sell Nifty around 14.50 and exit around 15.25.

22-06-2022 Wednesday
" Today's market liquidity is likely to be good as Saturn, Jupiter, and Venus are in their own sign,
and there is also a combination of Moon, Mars, and Jupiter. " Due to pre-open and global indica-
tions, you may see a mixed trend in Nifty till 10.15. " From 10.15 to 13.15 time slot is very important
in which the first part can be up and the second part can be mixed to slightly negative. " Strength in
Nifty may increase after 13.15, so you refill the position accordingly.

23-06-2022 Thursday
" There will be a Moon-Rahu effect today and tomorrow, so there can be a lot of confusion and
softness in the market, so be cautious in making any deal. " Part - 1 = As the market opens, it can
slip step by step, which can be in the first hour. " Part - 2 = From 10.25 to 11.07 Nifty is likely to stay
up. " Part - 3 = From 11.07 to 13.27 Nifty may remain mixed to boring. " Part - 4 = From 13.27 to
15.05 Nifty is likely to remain up. " Part - 5 = From 15.05 to closing bell Nifty is likely to remain
down.

24-06-2022 Friday
" There may be volatility and profit booking in the market today. " From opening to 13.00, there
might be no profit in the market, so there is no need to take tension by trading unnecessarily. "
From 13.00 to 14.50, there are chances of buying heavyweight stocks, which has a positive effect
on the Nifty. " You can take a break after 14.50.
With Ganesha's Grace
Shri Dharmeshh Joshi
9909941816
Financial Weekly

19th June 2022 to 25 th

June 2022 55

Financial Weekly

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
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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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