Money Times 17th April

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T I M E S
A TIME COMMUNICATIONS PUBLICATION
VOL XXVI No.24 Monday, 17 23 April 2017 Pgs.22 Rs.18
9200 now a sore point Now follow us on Instagram, Facebook &

By Sanjay R. Bhatia Twitter at moneytimes_1991 on a daily basis
to get a view of the stock market and the
Negative geo-political conditions as well as overbought conditions happenings which many may not be aware of.
led to the anticipated correction in the Indian stock market last
week. Sustained bouts of profit-booking and selling pressure were also witnessed at higher levels because of which the
Nifty struggled to sustain above the 9200 mark. The breadth of the market remained positive amidst high volumes
indicating buying support in the broader market but selling pressure in key pivotals and index heavyweight stocks.
The FIIs turned net sellers in the cash segment but were seen hedging their positions by remaining net buyers in the
derivatives segment. Moreover, the DIIs turned net buyers and were seen supporting the markets. Crude prices
remained rangebound in volatile trading between $53-56. The IIP declined by 1.2% in February 2017 v/s a rise of 1.9%
in February 2016. Industrial production fell to a four-month low in February 2017 as the manufacturing sector lagged
behind while retail inflation hit a five-month high in March 2017. The earnings season started on a weak note with
Infosys declaring a poor set of numbers.
Technically, the prevailing negative technical conditions Believe it or not!
weighed on the market sentiment leading to selling Sankhya Infotech recommended at Rs.55.95
pressure. The MACD, Stochastic, RSI and KST are all
in TT last week, zoomed to Rs.69.70 fetching
placed below their respective averages on the daily chart.
The Stochastic is also placed below its average on the 25% returns in just one week!
weekly chart. These negative technical conditions could GTN Industries recommended at Rs.21.45 in
lead to intermediate bouts of profit-booking and selling TT last week, zoomed to Rs.26.25 fetching
pressure especially at higher levels. 22% returns in just one week!
The prevailing positive technical conditions, however, Nath Bio-Genes (India) recommended at
still hold good. The MACD, KST and RSI are all placed Rs.147.75 in TT on 3 April 2017, zoomed to
above their respective averages on the weekly chart. Rs.216.65 fetching 47% returns in just two
Further, the Nifty is placed above its 50-day SMA, 100- weeks!
day SMA and 200-day SMA. The Niftys 50-day SMA is
GIC Housing Finance recommended at
placed above its 100-day and 200-day SMA, its 100-day
SMA is placed above its 200-day SMA indicating a golden Rs.302.40 as BB on 13 March 2017, recorded a
cross breakout. These positive technical conditions new 52-week high at Rs.515 last week fetching
could lead to regular buying support. 70% returns in one month!
The ADX line is placed above the +DI line and the -DI line Century Enka recommended at Rs.356.20 as
and is also placed above the 35 level on the daily chart. EE on 20 March 2017, zoomed to Rs.454
The +DI line is placed above the -DI line and above 27. fetching 27% returns within a month!
But it has also come off its recent highs, which indicates (BB - Best Bet; EE - Expert Eye; TT - Tower Talk)
that buyers are booking profits regularly. This happens only in Money Times!
Now in its 26th Year
A Time Communications Publication 1

The market sentiment remains cautious ahead of the
earnings season. The Nifty is clearly struggling above
the 9200 mark and is now a sore point for the market.
It is important that the Nifty moves and sustains above
9220 for buying support to be witnessed. Follow-up
buying support is crucial at higher levels. Intermediate
bouts of profit-booking and selling pressure are likely
to continue if the Nifty fails to move above the 9220
resistance level. Stock-specific action is likely to be
witnessed due to the earnings season. 9060 and 8975
support levels are crucial.
In the meanwhile, the markets will take cues from the
earnings season, Dollar-Rupee exchange rate, global
markets and crude prices.
Technically on the upside, the Sensex faces resistance at the 29650, 29825 and 30025 levels and seeks support at the
29350, 29075, 28700, 28350 and 28100 levels. The resistance levels for the Nifty are placed at 9220, 9275 and 9350
while its support levels are placed at 9060, 8975, 8890, 8860 and 8712.
BAZAR.COM
Rational & realistic: The billionaire mantra
When Microsoft founder and former CEO, Bill Gates, and Chairman of Berkshire Hathaway Inc, Warren Buffett, get
together to address an audience, pearls of wisdom flow. It was, therefore, a rare treat to go through a two decade old
issue of fortune dated 20 July 1998 of these two wealthy individuals coming together and speak about taking risks,
motivating employees, confronting mistakes and giving back. Although the event took place in May 1998, the billionaire
buddies conceived it to coincide with Buffetts weekend visit to Gates home, following Microsofts annual summit
meeting for CEOs. The super investor and cyber tycoon asked some 350 business school students to participate in the
session to gain an insight into their lives. Here are some excerpts which clearly establish that what they said 20 years
back still holds today.
How did they get where they were? Clearing the very first and basic question the insights were indeed revealing. Its not
IQ. The big thing is rationality, Buffett said and continued, I always look at IQ and talent as representing the
horsepower of the motor, but the output i.e. the efficiency with which the motor works depends on rationality. A lot of
people start out with 400 HP motors but only get a 100 HP output. It is way better to have a 200 HP motor and get it all
into output.
So what do smart interfere with obtaining the optimum
output? It becomes a habit, character and temperament A message sent by an Advisor to his Clients
to behave in a rational manner. Not getting in your
own way is the key to rationality, be it life or creating Think of EQUITY as your third child.
wealth. Most families have two children. We spend a lot of
Everybody here has the ability to do anything I do and money over a period of 25 years in educating our
much beyond. Some of you will and some of you wont. children, providing for all their needs, marrying
For the ones who wont, it will be because you get in them off - in short, getting them well settled in life.
your own way and not because the world does not
allow you, Buffett added. I tell my clients to think of EQUITY as their third
Admitting that Buffett is right about habits, Gates said child. Put in the same amount each year into an
We did not see any limit to the computers potential equity fund that you spend on one child. Do that
and we really thought writing software was a neat for 25 years. After 25 years, whether your real
thing. Pursuing that with pretty incredible focus and by children look after you or not, this third child will
being there at the very beginning of the industry, we look after you very well for the rest of your life.
were able to build a company that has played a central *The Power of Equity...
role in what has been a pretty big revolution. It was 23 Keep Investing... Stay Invested*
years ago when we started the company. But there is

no doubt that if we take the habits we formed and stick with them, the next twenty three years should give us a lot more
potential and may be even get us pretty close to our original vision - a computer on every desk and in every home.
Happy is what I am and I get to do what I like every single day of the year Buffett claimed. I tap-dance to work and
when I get there, I think I am supposed to lie on my back and paint the ceiling. It is tremendous fun, he added. Every
successful investor needs to imbibe this in his life to happiness. They say success is getting what you want and happiness
is wanting what you get.
Gates reiterated Youve got to enjoy what you do every day. Every time we thought we had a little bit of success, we
were pretty careful not to dwell on it too much because the bar gets raised. Something of the kind the D-mart founder
has done over the last two decades. And for him and his company, life has just begun!
For both Buffett and Gates, the world is their oyster. Berkshire Hathaway does not take its business globally directly. It
has two large commitments - Coke and Gillette. Coke and Gillette have 80% and two-third of their earnings coming from
abroad respectively. Thus, they participate in worldwide improvement in the living standards and Berkshire Hathaway
goes global piggy-backing on them. I can sit in Omaha and let the CEO of Coca Cola fly all over the world concluded
Buffett.
For Gates, the business is truly global. The PC standard is global standard. What you need in a spread sheet in Korea or
Egypt is about the same as what you need in USA.
Although the then richest and second richest individuals shared the same stage, their approach to investment was poles
apart. For both of them, it was conviction that played the key role. Buffett buys the business he understands and
therefore, had no holding in Microsoft. Although he did not grasp Gates business in 1998, he expected the technological
revolution to change the world.
Ironically, his approach in dealing with it is opposite to Gates. I look for businesses in which I can predict what they are
going to look like in 10 or 15 or 20 years. That means that businesses that will look more or less the same as they do
today except that they will be larger and doing more business globally. So I focus on absence of change. When I look at
the internet for example, I try to figure out how an industry or a company can be hurt by change and then I avoid it. That
does not mean that I dont think there is a lot of money to be made from that change. I just dont think that Im the one to
make a lot of money from it. Take Wrigleys chewing gum for example. I dont think the internet is going to change how
people are going to chew gum. Bill probably does. I dont think its going to change the fact that Coke will be the drink of
preference and will gain in per capita consumption around the world. I dont think it will change whether people shave
or how they shave. So we look for very predictable businesses but you wont find it predictable in what Bill does. As a
member of the society, I applaud what he is doing but as an investor, I keep a wary eye on it.
Gates agrees with Buffetts thinking and reiterates that is the reason why the multiples of Microsoft are lower than the
multiples of Coke and Gillette.
The contrasting approach of these two billionaires still holds and tells their millions of investors that there is only one
way to their billions viz a rational and realistic approach.
TRADING ON TECHNICALS
Profit-booking pressure below 30024
By Hitendra Vasudeo
Sensex Daily Trend DRV Weekly Trend WRV Monthly Trend MRV Last week, the
Last Close 29461 Up 29342 Up 28783 Up 26828Sensex opened at
29752.61,
attained a high at 29838.82 and moved to a low at 29838.82 before it closed the week at 29461.44 and thereby showed a
net fall of 245 points on a week-to-week basis.
A bearish candle, Evening Star candlestick pattern was formed which suggests that a near-term correction or sideways
volatility may take place before moving higher beyond 30024.
Daily
The 21-day EMA was violated on Thursdays closing. The Sensex had crossed the 21-day EMA on 29/12/2016 at 26366.
Thereafter, a rise was seen as the closing was above the 21-day EMA. The rally from 25753 appears to have terminated
as the 21-day EMA is violated after registering a high at 30007.
The 10-day variable average is at 29342, which is likely to be tested.

The daily chart higher bottom is at 29137. The Sensex had moved to 30007.
The support gap is at 29137-29076.
If the Sensex does not witness an immediate rise and close above 29660, then the correction will continue to test the
bottom of 29136 and the gap of 29137-29076.
The slope of the 21-day EMA has turned negative, which suggests that a slide will be witnessed to test the 34-day EMA,
55-day EMA and 89-day EMA. The 34-day EMA and 55-day EMA are placed at 29266 and 29515. The 89-day EMA at this
point is at 28480.
Since the composition is bullish, the 34-day EMA, 55-day EMA and 89-day EMA will work as retracement levels in terms
of time and price.
The rise from 29137 to 30007 was seen. If the bottom of 29137 is violated, then expect a slide to 28611 and 28259 as
161.8% and 200% retracements measure a down move.
Weekly
An Evening Star candle was formed. Therefore, expect a correction till 30027 is not crossed.
Resistance for the week can be 29580-29719-30024.
Lower range for the week can be 29322-28926.
If we compare the weekly RSI value during the March 2015 level of 30024 and the current level, then it can be said that a
negative divergence has developed. A correction for the near-to-short-term possibility has opened up, which could test
the gap and higher bottom zone.
Trend based on Rate of Change (RoC)
Daily chart: Evergreen
1-Day trend - Down
3-Day trend - Down WINNERS 2017
8-Day trend - Down
Weekly chart:
Features 31 stocks identified as performers
1-Week trend - Down At launch on 1st January 2017, all 31 stocks were selected as
3-Week trend - Up Winners but they must go up and down their journey
providing you an opportunity to buy / sell or accumulate
8-Week trend - Up
during the year.
Monthly chart:
1-Month trend - Down Of the 31 stocks identified, 22 are gainers already.
3-Month trend - Up The Yearly Levels and Quarterly Levels provide for Profit
8-Month trend - Up Booking.
Quarterly chart: On Correction, the Lower Levels are for Accumulation at
1-Quarter trend - Down Yearly and Quarterly Levels.
3-Quarter trend - Up Stocks where Profit booking is witnessed and are correcting
8-Quarter trend - Up offer an opportunity for accumulation. Currently, 9 stocks
Yearly chart: have corrected and thus provide an opportunity for
accumulation.
1-Year trend - Up
3-Year trend - Up Most Important Reason to Subscribe Now
8-Year trend - Up
New Quarterly Levels will be issued at March 2017 end.
BSE Mid-Cap Index Stocks that move up will offer a new range to capitalize on.
Weekly chart: Stocks that correct provide an opportunity at New Quarterly
1-Week trend - Up Levels.
3-Week trend - Up
For more details, contact Money Times on
8-Week trend - Up 022-22616970/4805 or moneytimes.support@gmail.com.
Support during the week will be at 14214-
14000. A correction will resume in the Mid-Cap Subscribe today: Rs.6000 per annum
index on a fall below 14000.

An upside movement will continue on a rise and close above 14500.
On a sustained rise and close above 14500, expect a rally to 15100.
BSE Small-Cap Index
1-Week trend - Up
3-Week trend - Up
8-Week trend Up
The BSE Small-Cap index has tested the target of
15000 as the high registered last week was
14986. Support will be at 14700-14600-1440.
Expect profit-booking pressure at the current
level or above to 15000.
A further upside momentum in the Small-Cap
index can continue on a breakout and weekly
close above 15000.
A correction could take place before moving
higher.
Strategy for the week
Traders already long can revise upwards their stop loss to 28700. Expect profit-booking pressure on the Sensex and
Sensex-related stocks. Profit-booking pressure could be witnessed on the stocks from the BSE Small-Cap and BSE Mid-
Cap indices as well.
WEEKLY UP TREND STOCKS

Let the price move below Center Point or Level 2 and when it move back above Center Point or Level 2 then buy with
whatever low registered below Center Point or Level 2 as the stop loss. After buying if the price moves to Level 3 or above
then look to book profits as the opportunity arises. If the close is below Weekly Reversal Value then the trend will change
from Up Trend to Down Trend. Check on Friday after 3.pm to confirm weekly reversal of the Up Trend.
Note: SA-Strong Above, DP-Demand Point, SP- Supply Point, SA- Strong Above
Weekly Up
Scrip Last Level Level Center Level Level Relative
Reversal Trend
Close 1 2 Point 3 4 Strength
Value Date
Weak Demand Demand Supply Supply
below point point point point
ESCORTS 546.30 521.0 525.1 542.3 563.5 602.0 72.7 533.2 13-04-17
INDUSIND BANK 1437.00 1410.0 1416.3 1430.7 1451.3 1486.3 71.4 1412.0 17-03-17
DEVELOP. CREDIT BANK 179.65 167.8 170.5 176.9 186.1 201.8 71.4 171.1 30-12-16
INDIAN OIL CORPORATI 422.40 403.0 407.3 418.0 433.1 458.8 70.1 394.8 31-03-17
YES BANK 1616.85 1559.6 1571.6 1604.8 1650.1 1728.5 69.7 1562.0 06-01-17
WEEKLY DOWN TREND STOCKS

Let the price move above Center Point or Level 3 and when it move back below Center Point or Level 3 then sell with whatever
high registered above Center Point or Level 3 as the stop loss. After selling if the prices moves to Level 2 or below then look to
cover short positions as the opportunity arises. If the close is above Weekly Reversal Value then the trend will change from Down
Trend to Up Trend. Check on Friday after 3.pm to confirm weekly reversal of the Down Trend.
Weekly Down
Scrip Last Level Level Center Level Level Relative
Reversal Trend
Close 1 2 Point 3 4 Strength
Value Date
Demand Demand Supply Supply Strong
point point point point above
INFOSYS 931.00 844.3 908.3 949.7 972.3 991.0 36.89 991.25 31-03-17
TECH MAHINDRA 430.10 403.0 422.9 435.5 442.8 448.2 38.11 451.80 10-03-17
RIL COMMUNICATONS 35.70 30.8 34.4 36.8 38.1 39.2 43.88 37.96 13-04-17
ASHOK LEYLAND 82.70 79.6 81.8 83.0 84.0 84.3 45.54 84.54 24-03-17
TATA CONSULTANCY SER 2327.85 2156.8 2283.5 2365.7 2410.1 2448.0 46.07 2403.20 24-03-17

*Note: Up and Down Trend are based of set of moving averages as reference point to define a trend.
Close below averages is defined as down trend. Close above averages is defined as up trend. Volatility
(Up/Down) within Down Trend can happen/ Volatility (Up/Down) within Up Trend can happen. Relative
Strength (RS) is statistical indicator. Weekly Reversal is the value of the average.
EXIT LIST
Scrip Last Close Supply Point Supply Point SupplyPoint Strong Above Demand Point Monthly RS
VEDANTA LIMITED 244.05 255.9 260.1 264.3 278.00 220.16 58.75
WIM PLAST 1379.00 1426.9 1447.5 1468.2 1535.00 1251.85 39.58
BUY LIST
Scrip Last Close Demand point Demand point Demand Point Weak below Supply Point Monthly RS
STERLITE TECHNOLOGIE 148.80 140.6 137.8 135.0 126.10 163.96 61.37
DEWAN HOUSING FIN.CO 388.85 385.7 382.2 378.7 367.25 415.55 57.53
TVS MOTOR COMPANY 474.00 459.6 453.9 448.3 430.00 507.42 57.49
PUNTER PICKS
Note: Positional trade and exit at stop loss or target whichever is earlier. Not an intra-day trade. A delivery based trade for a
possible time frame of 1-7 trading days. Exit at first target or above.
Note: SA-Strong Above, DP-Demand Point, SP- Supply Point, SA- Strong Above, RS- Strength
Last Weak Supply RS-

Scrip BSE Code Demand Point Trigger Supply point Strength
Close below point
BINNY 514215 149.70 142.85 151.00 134.05 161.5 178.4 87.55
NITIN SPINNER 532698 130.30 128.00 132.80 125.65 137.2 144.4 73.47
INDIAN TONERS & DEV. 523586 168.90 165.00 173.80 156.00 184.8 202.6 65.25
GWALIOR CHEM IND 532764 143.20 140.00 148.60 134.55 157.3 171.3 58.57
SAVERA INDUSTRIES 512634 63.80 61.00 64.95 59.00 68.6 74.6 51.69
CHEMBOND CHEMICALS 530871 205.40 196.55 210.00 192.20 221.0 238.8 50.35
EON ELECTRIC LTD 532658 73.20 70.25 76.00 68.00 80.9 88.9 50.11
*Note: Up and Down Trend are based of set of moving averages as reference point to define a trend.
Close below averages is defined as down trend. Close above averages is defined as up trend. Volatility
(Up/Down) within Down Trend can happen/ Volatility (Up/Down) within Up Trend can happen.
! Note: Momentum breakout trend of stocks value(volume*close) between 10-80 lakhs.
TOWER TALK
Money Times has consistently recommended Rural Electrification Corporation and Power Finance Corporation.
Both the stocks are at an inflection point and already on fire. But the best is yet to come. Buy immediately for good
gains within a year or two.
Marksans Pharma has obtained USFDA approval for its novel soft gelatine capsules. The stock is poised to touch
Rs.100 in a few months.
Sponge iron prices are soaring. Buy Tata Sponge Iron since its plants are running at full capacity. With falling
Indonesian coal prices, the Company is set to make windfall gains this year. A screaming buy.
Banking major DCB Bank (an associate of HDFC Bank) is on the verge of a big break out. Huge volumes in thus
counter suggest a rise to Rs.210 soon.
Glenmark Pharmaceuticals has obtained USFDA approval for its generic version of Fenofibrate capsules used for
lowering cholesterol. A big positive for the company. The stock may touch Rs.1400 within a year.
Tata Elxsi is setting up a R&D unit in Bengaluru in association with Panasonic to develop technologies and robotics
for global operations. The company is in for much better times ahead. Buy.

Mahindra & Mahindra, a leader in the SUV and tractor segments, expects the sale of electric cars to jump 3x in
around a year. Buy for the long-term.
Blue Star, which has over 4,000 outlets, recently launched energy efficient inverter split ACs. The stock is set to
surge.
With loan growth of 20-25% and better NPA management, the share of Repco Home Finance is set to seek higher
tops. A good buy in the scorching market.
KPIT Technologies, a part of the renowned Kirloskar group, is reportedly faring well. The stock may soon start its
upward march. Buy for a safe target of Rs.200.
ICICI Bank has bought a strategic stake in Karnataka
Bank which resulted in a 9% jump in share price in a Relative Strength (RS)
single session. There are rumours that ICICI Bank may Signals a stocks ability to perform in a dynamic
purchase additional stake. Investors may accumulate
market.
Karnataka Bank for a target of Rs.200+ in the near
Knowledge of it can lead you to profits.
future.
As iron ore prices rise, accumulate NMDC. The
POWER OF RS - at Rs.3100 for 1 year:
company pays a dividend of ~Rs.11/share. A safe bet at What you get
a time when other stocks look costly. Most Important- Association for 1 year at Rs.3100
1-2 buy / sell per day on a daily basis
A decisive demerger of Sintex Industries into two
1 buy per week
separate entities will soon take place. The cumulative
value of both the demerged entities may be over 1 buy per month
Rs.160. Buy now. 1 buy per quarter
1 buy per year
Persistent Systems has announced collaboration with For more details, contact Money Times on
Nok Nok Labs. A major transformation in its 022-22616970/4805 or
application services may boost its bottom-line moneytimes.support@gmail.com.
significantly going forward. A good buy.
Apollo Tyres has commissioned its first plant in Europe, which is a big positive. Buy for the long-term.
Shilpa Medicare has obtained USFDA approval for its Raichur manufacturing facilities. This low-priced stock has
immense potential. Buy for the long-term.
Citibank has raised its earnings projections and price target for Eicher Motors. It may be prudent to accumulate the
stock at the current level.
Ugar Sugar Works is likely to notch an EPS of Rs.5.8 (FV: Re.1) for FY17. The stock is poised to touch Rs.60 in the
medium-to-short-term.
Grey market premium for the IPO of Hudco is Rs.27-29 and the cost of its minimum application form is Rs.1100-
1150.
An Ahmedabad-based analyst recommends IOL Chemicals & Pharmaceuticals, Mangalore Refinery &
Petrochemicals, Vidhi Specialty Food Ingredients and Precision Camshafts. From his last week's
recommendations, B.L. Kashyap & Sons jumped from Rs.24.05 to Rs.27.80 and Tokyo Plast International from
Rs.136.10 to Rs.147.30 delivering excellent returns in just four trading sessions! Electro Steel Castings
recommended on 27 March 2017, jumped from Rs.31 to Rs.40.60, JMC Projects from Rs.246.45 to Rs.293 and
Nagreeka Exports from Rs.34.30 to Rs.45 last week; Sanwaria Agro Oils recommended at Rs.7.18 on 9 January
2017, zoomed to Rs.13.44 last week; and Filatex India recommended at Rs.72.10 on 16 January 2017, zoomed to
Rs.149.30 last week.
BEST BET
Inox Wind Ltd
(BSE Code: 539083) (CMP: Rs.187.45) (FV: Rs.10)
By Bikshapathi Thota
Inox Wind Ltd (IWL) is a leading wind energy solutions provider that services IPPs, Utilities, PSUs, Corporates and Retail
Investors. It manufactures key components of wind turbine generators (WTGs) in-house to maintain high quality,
reliability and cost competitiveness. Its WTGs are designed for low wind speed sites suited to India.

IWL is a fully integrated player in the wind energy market with state-of-the-art manufacturing plants at Rohika (Gujarat)
for blades and tubular towers, Una (Himachal Pradesh) for hubs and nacelles and an integrated manufacturing unit at
Barwani (Madhya Pradesh) for nacelles, hubs, blades and towers. Its plants have a cumulative capacity of 1,600 MW. Its
Barwani facility, which is amongst the largest in Asia and billed to be the largest in India, will drive investments and
economic growth in Madhya Pradesh and provide direct and indirect employment to 5,000 people in the state.
IWL operates through two business models:
1) Turnkey Solution: In this model, it takes care of all the aspects related to the development of wind power projects
from conceptualization to commissioning including operation and maintenance (O&M). This includes wind studies,
energy assessment, land acquisition, site infrastructure development, power evacuation, statutory approvals, supply
of WTGs, erection and commissioning and long-term O&M of the wind farms.
2) Equipment Supply: In this model, it supplies WTGs and other associated equipments to customers for erection on
sites owned by them. The rest of the project development work is done by the customer. Erection and
commissioning and long-term O&M of e wind farms remains in IWLs scope.
Technology and Product Excellence: IWLs WTGs are based on AMSC technology and currently offer multiple blade
and tower variants of 2 MW turbines. AMSCs state-of-the-art wind turbine designs range from 1.65-10 MW and over
15,000 MW of installed capacity is operated globally based on its designs. IWLs WTGs are equipped with DFIG
technology, which is one of the most advanced technologies used globally. The swept area per MW is also one of the
highest, which makes the WTG suitable for low windy sites and climatic conditions such as those prevalent in India.
IWL has entered into a collaboration with AMSC to develop a 3 MW turbine specially designed for the Indian market.
This turbine will eventually extend the Companys product offerings and reinforce its position as a leading wind turbine
manufacturer in the country.
Operational & Service Excellence: IWLs WTGs are specifically Financials: (Rs. in crore)
developed keeping in mind the wind conditions and grid Particulars FY15 FY16 FY17P FY18P
requirements in India. Also, having multiple layers of quality Sales 2525 4414 3659 4522
assurance including third party quality ensures operational
Expenditure 2004 3757 3126 3659
excellence.
PBDT 459 623 457 716
Further, being a committed long-term player and a part of the Inox
Group, IWL has a proven track record of client satisfaction across all Net Profit 332 452 302 498
its businesses. EPS (in Rs.) 16.6 20.4 13.7 22
Renewed government thrust on Renewable Energy: The government plans to add 175 GW renewable power with
wind power share at 60 GW by 2022 from 23 GW as at FY15. Apart from assigning priority-sector status to renewable
energy (up to Rs.0.15 bn) to ensure cheaper funding, several other measures such as accelerated depreciation,
generation-based incentives and renewable energy certificates have been reintroduced, which augur well for the
Company. We envisage multiple tailwinds that will drive the size of the wind energy market from 2.3 GW in FY16 to 4-5
GW in the medium-term.
Conclusion: IWL is a part of Gujarat Fluorochemicals Ltd, which recently sold its stake to leap green in Inox Renewables
to reduce debt by Rs.800 crore with the objective of focusing on its core business of wind turbine manufacturing. The
stock currently trades at attractive valuations of 9x FY18P earnings and 2x book value. We believe that the Companys
strong outstanding order book and impeccable execution capabilities will continue to drive its profitability and improve
ratios in the next few years. Hence, we have a Buy on the stock with a price target of Rs.330 (15x FY18P earnings) within
a year.
GURU SPEAK
Consolidation is a golden opportunity
After the announcement of the hawkish Monetary Policy last week, the market turned extremely
cautious and hesitant if the market fluctuations that followed are any indication. Bulls have now
turned into traders. They are consistently booking profits within a Sensex rise of 200-250 points
i.e. close to 29800 and Nifty at 9200 or more. This is because there is no fresh trigger as far as
government policies, measures or economic reforms are concerned. Monetary Policy issue or
By G. S. Roongta hopes over the GST Bill, too, stand cleared in both the houses of Parliament and are ready for
implementation w.e.f. 1 July 2017. Political hurdles, too, are over with no more State/Assembly

elections due in the near future. Except corporate results, there is no trigger left. And as far as corporate results are
concerned, the triggers will be stock-specific or sector-specific.
Half the Nifty stocks like Adani Ports, Ambuja Cements, Asian Paints, the five pharma stocks and tech stocks (HCL
Technologies, Infosys, Tech Mahindra and Wipro) are unlikely to provide any trigger as they all rule in the middle of
their 52-week highs and lows. Banking stocks like Axis Bank, HDFC, HDFC Bank, ICICI Bank, Kotak Mahindra Bank and
Yes Bank have rallied between 30-60% from their 52-week lows. Besides, RBI, too, is not left with any fresh trigger.
Multinational stocks like Bosch, Britannia Industries, ITC, Hindustan Unilever and high priced stocks such as Eicher
Motors, Hero MotoCorp, Indiabulls Housing Finance, Larsen & Toubro, Maruti Suzuki India, Reliance etc have also
experienced fresh triggers recently. So, they are unlikely to make any further headway so soon. The sectors left are Steel,
Sugar, Fertilizers, Power, Petroleum and Automobiles. These sectoral stocks are expected to post good quarterly
numbers. But they, too, have rallied too fast recently.
The two benchmark indices, which gained week before last with net gain of Sensex 86 points at 29706 and net gain of
Nifty 25 points at 9198.30, were ruling close to these levels till Wednesday, 12 April 2017, with just one day of trading
left in the truncated trading week ending Thursday, 13 April 2017.
As reported by some leading print media, the Sensex
seemed to have retreated for the third consecutive day on Mid-caps or Mad-caps?
Monday, 10 April 2017, slumping to a near two-week low 2017 will be a watershed year in the history of
ahead of Q4 results and escalating geo-political tensions stock market as it takes off from a weak closure of
with the US attack on Syrian airfields fueling the tension. 2016.
It was like a post mortem of the market that closed in the Leading the charge will be the Mid-caps that are
negative. Had this been the valid reason, why did the
likely to outperform the large-caps or index
market rally the next day on Tuesday, 11 April 2017? It
stocks. Another forecast made by Mr. G.S. Roongta.
not only recovered the entire losses of Monday but also
gained much higher. The Sensex, which lost 131 points at
29576 on Monday rose higher by 213 points on Tuesday To encash this opportunity, Money Times has
with a net gain of 82 points followed by a net gain of 8 launched Roongtas Mid-cap Twins comprising
points on the Nifty at 9198.30 while breaching the two mid-cap recommendations every month
sensational level of 9200 just 2 points short. beginning 1st August 2016.
The most interesting comment came from technical
Attractively priced at Rs.2000 per month,
experts as reported in ET on Tuesday, 11 April 2017 - Rs.11000 half yearly and Rs.20,000 annually,
Nifty makes bearish belt stating that the Nifty gave up Roongtas Mid-cap Twins will be available both as
the 9200 level to end below the 5-day exponential print edition or online delivery.
moving average (EMA) after falling for the third straight Latest edition of Mid-Cap Twins was released on
session on Monday. Thus the index was expected to stay 1st April 2017
at 9165 as a host of oscillating indicators turned negative Please book your subscription
with MACD crossing below its signal line giving out
bearish signals.
This was the technical assessment of ET Tech analysts based on the negative closing of the market by just few Nifty
points on Monday. It was, therefore, really very shocking for the readers to see the market opening high on Tuesday at
29630 and the Nifty at 9185 and rallying to a high of Sensex 29805 and Nifty 9242 with the Sensex closing higher by 213
points and Nifty by 56 points thereby dismissing the calls of the technical experts as their day-to-day calls proved to be
an utter failure once again.
On seeing the indices going up, ET turned suddenly bullish the following day on Wednesday, 12 April 2017 and reported
just the opposite of the previous day - Nifty forms a bullish engulfing pattern on charts, which means that the Nifty
rallied on Tuesday after seeing strong support at its 13-day EMA to eventually settle around its days high thus forming a
bullish engulfing pattern. The net result of this reading, too, proved an utter failure as the market closed in the negative
that day with the Sensex losing 145 points at 29643.48 and Nifty losing 34 points at 9203. Several ET followers must
have suffered losses in squaring up their bullish positions taken at the opening session. Apart from ET, CNBC TV18
analysts, too, were assuring that the market will close in the positive but that did not happen.
This is a clear warning for investors acting upon the day-to-day calls of chartists. Technical Analysis is hypothetical and
not based on the true understanding of charts and proves to be just a numbers game. As per the chart theory, positive
calls are given if the market closes in the green and negative calls are given if it closes in the red. This is what is
happening in the short-term analysis and followers in pursuit of making quick gains based on these calls are repenting
consistently.

On Monday, one of my close friends phoned me and recommended to buy truckloads of Steel Authority of India (SAIL)
futures between Rs.67.8 and Rs.68.8. SAIL has been a sure shot hot tip in the market. Sadly the stock closed at Rs.62.55
losing 6.5 points on a lot size of 12,000 which means around Rs.75,000 lost in just 3 days if one still carried the position.
So, the great temptation to play the F&O market for quick gains is full of risks.
Likewise, doing
business on Margin 13th Edition of Roongtas Panchratna
money or Margin
finance is equally
Released on 1st April 2017
risky, which F&O Roongtas Panchratna stocks are in the limelight.
players rarely
calculate. The SAIL The 13th edition contains five low-priced stocks in the range of Re.0.65 and Rs.80 from five
Futures must need booming sectors - Steel, Sugar, Textile, Shipping and Chemicals.
margin call @ 30% i.e.
Rs.75,000 and losses Have a look at our Top Performers from the first ten editions:
of mark to market of Sr. Date Scrip Name Recomm. High % Gain
another Rs.75000 to No Rate (Rs.) Achieved
(Rs.)
pay the next day as
1 April 2014 Cheslind Textiles Ltd converted into 4.98 510 400%
otherwise, the money
RSWM Ltd (05:100)
will be recovered by
Trident Ltd 18.80 90.30 380%
squaring up the future
Essar Ports Ltd 50.90 150.40 195%
to recover the losses. I
2 July 2014 Suryaamba Spinning Mills Ltd 31.20 85 172%
fail to understand why
Sarda Plywood & Industries Ltd 18.85 165.05 776%
investors do not
Dish TV India Ltd 62.95 121.85 94%
simply buy 1,000
October 2014 Ashok Leyland Ltd 41.10 112.80 174%
shares of SAIL in cash 3
Mangalore Refinery & Petrochemicals Ltd 61.45 116 89%
when they feel that it 4 January 2015 KEC International Ltd 94.30 213.40 126%
is a case of sure shot Suzlon Energy Ltd 14.70 30.25 106%
gains! This is an 5 April 2015 ABC India Ltd 88.05 148.30 68%
example of one stock Shipping Corporation of India Ltd 46.15 100.90 119%
only. Like this, there Tinplate Company Of India Ltd 54.30 107.70 98%
are hundreds of stocks 6 July 2015 Sathavahana Ispat Ltd 35.40 103.95 194%
traded in the F&O 7 October 2015 JK Paper Ltd 41.90 101.80 143%
segment. Imagine the Tanla Solutions Ltd 24.75 66.45 168%
plight of investors in DCW Ltd 20.30 40 97%
such circumstances! STEL Holdings Ltd 27 80.90 200%
Believe it or not, but 8 January 2016 Perfectpac Ltd 56.75 134.15 136%
such tips are meant to 9 April 2016 Indokem Ltd 3.8 24 532%
trap others by those 10 July 2016 Gujarat State Fertilizer Corporation Ltd 78.45 129.60 65%
who are short and The list comprises stocks that gained over 65% in 21 stocks out of 50
seek to exit their
position by giving out Salient Features -
dubious short loss Out of the 50 stocks recommended up to the 10th edition, the highest gainers are:
levels that are really Sarda Plywood & Industries at 776%
meaningful and only Indokem at 532%
to fool you! Cheslind Textiles (now RSWM) at 400%
The market remained Trident at 380%
closed on Friday on The success rate is nearly 90% in rest of stocks with average returns of 50% and low-priced
account of Good stocks delivering higher returns.
Friday & Dr.
Ambedkar Jayanti. The The 13th edition will be more exciting as one of the stocks selected from the steel sector
market does not give quotes at Re.0.50 on Re.1 paid up share and has been witnessing huge volumes daily for the
any fair indication at last couple of weeks.
the moment as to Subscription Rate: Rs.2500 per quarter, Rs.4000 for two quarters & Rs.7000 per annum.
which side it is plans You can contact us on 022-22616970, 22654805 or moneytimes.support@gmail.com
to be heading as one Book your copy now. First come first served

days gain followed by a loss the next day is confusing because of which investors dont feel confident enough to enlarge
fresh positions.
But the market trend is clearly bullish. And once the bullish pattern goes into a consolidation phase, then investors get
confused whether they should consider it as a correction or profit-booking by bulls whereas it is a great opportunity to
buy before the bull market resumes.
We are passing through this volatility prompting to buy low and sell high i.e. profit-booking for small gains.
Print media news talks about small-caps and mid-caps being outperformers almost every day forecasting them to
perform well going forward as well. Money Times is proud to have forecasted this a year before other popular media.
There is also a report that the golden days for Pharma and I.T. stocks are over, which seems true as Pharma and I.T.
stocks are trailing much behind their 52-week highs even in a bull market.
1) Dr. Reddys Laboratories at Rs.2628 on 11 April 2017, is over 1,000 points below its 52-week high of Rs.3689; Cipla
at Rs.580 is trailing behind by 40 points; Lupin at Rs.1430 is trailing behind by 320 points; Sun Pharmaceuticals
Industries at Rs.670 is trailing behind by 184 points. These are stocks of Nifty 50. The situation of small-caps and
mid-caps is worse. Among I.T. stocks, Infosys at Rs.967 is trailing behind by 310 points; Tata Consultancy Services at
Rs.2420 is trailing behind by 320 points; Tech Mahindra at Rs.445 is trailing behind by 118 points.
2) Rupee is gaining week after week since a fortnight or so and is traded at Rs.63 against the US Dollar against Rs.69
earlier.
3) FIIs which were pumping in funds almost every day since one month or so have slowed down their investments of
late.
4) Till the Sensex hits its all-time high of 30024, investors are also advised to slow down in making fresh investments
although the trend is bullish and there is no harm in taking fresh positions when there is a panic sell.
5) Auto manufacturers are reported to be stuck with 1.2 lakh BS-III vehicles worth over Rs.5000 crore, because of
which the share prices of Maruti Suzuki India, Mahindra & Mahindra, Tata Motors are also stuck.
6) The Government of India plans to impose dumping duty on steel and cold rolled steel products to safeguard the
domestic industry, which is good news for the domestic steel industry.
7) Banks complain of waiving of Kisan loans in Uttar Pradesh followed by in Maharashtra as this will burden them
further.
Thus, the market is taking into consideration all the positive and negative factors going forward. Lets wait and watch to
see what the market holds this week.
The market drifted lower in three out of four trading sessions last week as the market corrected further on Thursday, 13
April 2017. The Sensex erased 182 points to close at the lowest level of the day at 29461 while the Nifty lost 53 points at
9151. Both the indices breached the sensational levels of Sensex 30K and Nifty 9200.
Bulls did not seem enthusiastic to carry their outstanding long positions, which was quite evident right from the F&O
expiry of March 2017 derivative contracts and comparatively low roll over for April contracts. This resulted in bull
liquidation gradually.
The FIIs, too, turned net sellers in the week putting further pressure on the market right from Friday, 7 April 2017. The
FIIs sold close to Rs.2500 crore worth of stocks in the cash segment alone. Further, factory production also hit a five-
month low followed by rise in consumer inflation at 3.87% for March 2017. Thus, there were no positive triggers in the
market last week to keep the momentum.
F&O players for bullish stake are now feeling the pinch waiting to either square up their positions or wait till the market
sentiment revives again. Infosys started the Q4 earnings season on a weak note as it failed to impress the Street. Infosys
lost 37 points thus impacting the Tech segment as a whole. Metal stocks like Hindalco Industries, Tata Steel, Vedanta and
JSW Steel remained subdued. However, there were some bright spots like Piramal Enterprises, PVR, G.M. Breweries,
Bharat Financial Inclusion and Nestle India which rose smartly. MRF, Bajaj Auto and Bajaj Holdings & Investment were
distinctly strong.
The weekly closing was therefore negative last week. Hence, investors may slow down making fresh commitments on
either side because of the uncertainty prevailing in the market until a revival signal emerges but pick up fundamentally
strong stocks that have turned cheaper by 15-20%.

STOCK WATCH
By Amit Kumar Gupta
West Coast Paper Mills Ltd

(BSE Code: 500444) (CMP: Rs.202.20) (FV: Rs.2) (TGT: Rs.250+)
West Coast Paper Mills Ltd (WCPM) is engaged in the production of paper, paperboard and optical fiber cable (OFC). It
produces paper for printing, writing and packaging. Its segments include Paper/Paperboard including Duplex Board at
Dandeli; Telecommunication Cables at Mysore; and Others. It has wind mills of 1.75 MW capacity in Tamil Nadu for
power generation. Its products include premium printing papers, business stationery, coated duplex boards and
machine-glazed (MG) varieties. It also offers grey-back and kraft-back boards to the garment and footwear industries. It
offers cup stock board for paper cups and folding box boards for the packaging segment. It operates six machines with
an installed capacity of ~3,20,000 TPA. It serves various industries such as food packaging, printing and publishing,
pharmaceutical, cigarette, match box, garments, stationery and notebooks.
WCPM provides printing and writing paper ranging from 52
to 140 gsm, which is suitable for all kinds of commercial Profitrak Weekly
grade printing and writing applications. It offers high quality A complete guide for Trading and Investments
machine-glazed paper and boards ranging from 80 to 300 based on Technicals
gsm. Its products are offered in four standard colors - Yellow,
Green, Blue and Pink besides in Buff and Natural Shades. It
What you Get?
offers premium printing paper ranging from 58 to 90 gsm
under the WESCO brand to suit high end printing 1) Weekly Market Outlook of -
application. Sensex
WCPM is a distinct player in some of the value-added, Nifty
customized and niche product segments for high-end Bank Nifty
applications. Its WESCO brand, MICR Cheque Paper, Bond, 2) Sectoral View of Strong/Weak/Market Perfomer
Parchment, Azure Laid, Super Shine, Duraprint, Alkali- indices
Resistant paper, etc. are some of its popular and most sought 3) Weekly Trading Signals
after grades in the industry. It also offers the finest range of 4) Stock Views and Updates every week
premium office paper tailor-made to suit all kinds of high-end 5) Winners for trading and investing for medium-
office printers. It provides value addition to customers to-long term till March 2018
through reel-cut and packaging using state-of-the-art 6) Winners of 2017 with fresh Weekly Signals on
automated precision cut-pack system that ensures the same
dimensional perfection and crisp packing.
Application of this product can be explained on the
WESCO is a one-stop paper house for quality, variety and Telephone or via Skype or Team Viewer.
affordability. It offers a wide range of speciality and value
added products to the packaging industry viz Cup Stock For 1 full year with interaction,
varieties; Folding Box Board; and Single and Double Coated rush and subscribe to Profitrak Weekly!
Board with Grey Back and Kraft Back.
WCPM manufactures paper and boards using an eco-friendly Subscription Rate: 1 month: Rs.2500; 1 year: Rs.12000
production process while maintaining the highest level of
quality standards. Its Cable division is run by its Mysore- For more details, contact Money Times on
based subsidiary - West Coast Optilinks (formerly Sudarshan 022-22616970/4805 or
Telecom). It has a capacity to produce 50,000 km of OFC and moneytimes.support@gmail.com.
1.5 million CKM of PIJF (Polythene Insulated Jelly Filled)
copper telephone cables per annum.
Its 1,800 acre rubber plantation estate is situated at Mukkom in Kerala. Its group company - Kilkotagiri and Thirumbadi
Plantations Ltd processes and manufactures 7,00,000 kgs of Single and Double Centrifuged Natural Rubber Latex and
Natural Dry Rubber-ISNR 10 & 20.
Technical Outlook: The West Coast Paper Mills Ltd stock looks very good on the daily chart for medium-term
investment since it is moving in a strong uptrend. It has formed a big saucer pattern on the weekly chart and has broken
out with huge volumes. The stock trades above or near its 200 DMA level.
Start accumulating at this level of Rs.202.20 and on dips to Rs.170 for medium-to-long-term investment and a possible
price target of Rs.250+ in the next 12 months.

The Byke Hospitality Ltd
(BSE Code: 531373) (CMP: Rs.202.95) (FV: Rs.10) (TGT: Rs.250+)
Byke Hospitality Ltd (Byke) is a hospitality company engaged in the operation of hotels and resorts. Its segments include
Owned & Leased (O&L) and Room Chartering (RC). In the O&L segment, it operates 9 properties under the Byke brand
of which 2 are owned while 7 are on a long-term lease. Its Room Chartering segment offers third-party rooms at tourist
and religious destinations across India during peak seasons. Its properties include The Byke Old Anchor, The Byke
Grassfield, The Byke Heritage, The Byke Suraj Plaza, The Byke Neelkanth, The Byke Hidden Paradise, The Byke
Redwood, The Byke Sunflower and The Byke Vijoya.
Byke operates resorts across Maharashtra,
Rajasthan, Goa, Odisha and Himachal Pradesh
with a total capacity of ~680 keys. It operates What TF+ subscribers say:
11 properties under its hotel segment. The Think Investment Think TECHNO FUNDA PLUS
selection of its hotels depends on the location
and target tourists and not the number of Techno Funda Plus is a superior version of the Techno
rooms. For instance, The Byke Grassfield Riviera Funda column that has recorded near 90% success since
(Jaipur) has 80 rooms and targets religious and launch.
leisure tourists, whereas The Byke Hotel Delite
(Mumbai) has 40 rooms and targets high Every week, Techno Funda Plus identifies three
density residential population by offering place fundamentally sound and technically strong stocks that can
for corporate and social events. It charters third yield handsome returns against their peers in the short-to-
party rooms at strategically identified popular medium-term.
cultural and religious tourist destinations Most of our recommendations have fetched excellent
during specific peak seasons. This involves returns to our subscribers. Of the 156 stocks recommended
aggregation of hotel rooms through prior between 11 January 2016 and 2 January 2017 (52 weeks),
booking of inventory on bulk. It has developed a
we booked profit in 120 stocks, 27 triggered the stop loss
strong relationship with over 500 hotel owners
while 9 are still open. Of these 9, 4 are in big green while 5
across India.
are in nominal red.
Byke targets the middle-class segment of the
society, which forms the principal part of the If you want to earn like this, subscribe to TECHNO
Indian population. Most of its hotels and resorts FUNDA PLUS today.
are located in tier-2 and mini metros namely
Subscription Rate: 1 month: Rs.2500; 3 months: Rs.6000;
like Matheran, Goa, Jaipur, Manali, etc. We
6 months: Rs.11000; 1 year: Rs.18000.
believe that the Company is well placed to
benefit from the surging middle-class For more details, contact Money Times on
population and growing disposable income, 022-22616970/4805 or moneytimes.support@gmail.com.
which is expected to lead to higher spending on
tourism and hospitality.
Byke has a unique asset light model in the hotel industry. It has expanded the business without the use of any major debt
along with efficient capital allocation. The management is focused on creating Byke as a leading hospitality brand in the
country and has given a revenue guidance of Rs.500 crore by FY21 (current TTM revenue is Rs.262 crore).
Byke is well placed to cater to the swelling domestic tourism and hospitality industry with vast range of offerings that
include hotel rooms, restaurants and bars, conferences, weddings, parties and MICEs (meetings, incentives, conferencing
and exhibitions). The tourism and hospitality industry has a very bright future with the rising consumer disposable
income, better infra connectivity (road, rail and airlines), attractive tourist destinations (including heritage and cultural
sites, scenic places, coastal beaches, etc.) and higher spending on tourism. Given the bright industry outlook and robust
financials, we expect the Companys revenue and PAT to grow at a CAGR of 20.4% and 23% respectively over FY16-19E.
It has low debt, strong return ratios and a stable working capital cycle.
Technical Outlook: The Byke Hospitality Ltd stock looks very good on the daily chart for medium-term investment
since it is moving in a strong uptrend. It has formed a rectangle pattern and broken out with huge volumes. The stock
trades above or near its 200 DMA level.
Start accumulating at this level of Rs.202.95 and on dips to Rs.170 for medium-to-long-term investment and a possible
price target of Rs.250+ in the next 12 months.

STOCK SCAN
Texmo Pipes and Products Ltd: A potential multibagger
By Archana Jain
Texmo Pipes and Products Ltd was incorporated in July 2008, prior to which its business was conducted through four
partnership firms - Shri Venkat Industries, Shri Padmavati Irrigation, Shri Mohit Industries and Balaji Industries. In July
2008, Shri Mohit Industries was converted into a limited company and its name was changed to Texmo Pipes and
Products Ltd (TPPL). In August 2008, it signed a business transfer agreement with the other three partnership firms for
the purchase of assets and liabilities of these group entities to consolidate their operations into one single entity. With a
production capacity of 75 tonnes per day (TPD), TPPL is a market leader in the plastic pipes and fitting space.
Product Portfolio: Rigid PVC Pipes, Agriculture Fittings, PVC Elastomeric Pipes, Casing Pipes for tube wells, Conduit
Pipes, Plumbing Pipes and Fittings, SWR Pipes, SWR Fittings, CPVC Pipes, Submersible Column Pipes, Suction Hose
Garden Pipes, Drip Irrigation Systems, HDPE Pipes, HDPE ID pipes, PLB HDPE Ducts, HDPE Sprinkler Pipes, Sprinkler
Fittings, LD (Krishi) Pipes, Solvent Cement.
Presence: The Company has two well-equipped units at Burhanpur in Madhya Pradesh to manufacture pipes and for
quality inspection and testing of raw materials and finished products. It has presence in Madhya Pradesh,
Chhattisgarh, Maharashtra, Uttar Pradesh, Gujarat, Andhra Pradesh and Rajasthan through an extensive dealer
network of 450+ dealers.
Pipe Application/Clients: TPPLs pipes find Financial Highlights: (Rs. in crore)
application in irrigation, agriculture, potable Particulars FY16 FY15 FY14 FY13 FY12
water supply schemes, sewerage and drainage Sales 257.87 243.98 178.54 154.59 155.64
systems, construction industry, telecom industry Total Expenditure 236.86 223.84 161.64 139.26 136.49
and bore/ tube well for underground water PBIDT 23.33 23.02 18.3 16.1 20.01
suction. Its clients in the government sector Interest 12.91 12.91 10.3 8.76 9.18
include Power Grid Corporation of India, MPLUN, Depreciation 5.51 5.25 5.49 5.12 4.83
BSNL, MTNL, RAILWAYS, MJP, GWSSB and CSIDC,
PBT 4.91 4.86 2.51 2.23 6
among others. Its corporate clients include Tata
Tax 1.17 1.56 0.69 1 1.79
Power, Idea Cellular, Reliance Communications,
Siemens, L&T, etc. PAT 3.74 3.31 1.82 1.23 4.21
EPS (in Rs.) 1.57 1.39 0.76 0.52 1.77
Exports: Exports are considered to be an
important variable in driving the economic growth of a country. TPPL manufactures a wide range of products that
have significant potential in countries like the Middle East, Iran, Iraq, Europe etc. The Government of India has
extended many privileges like exemption from excise duties, sales tax etc. to promote exports in support of
industrial growth and uplifting the Indian economy. TPPL intends to export to North America, European countries
and the UAE.
Subsidiary: The Company has one subsidiary - Tapti Pipes & Products Ltd FZE. It had one more subsidiary - Texmo
Petrochemicals Pvt Ltd which was converted into Texmo Petrochemicals LLP in September 2015.
Performance Review: For FY16, TPPLs turnover grew 5% to Rs.27903.28 lakh from Rs.26604.07 lakh in FY15
while PAT rose 13% to Rs.373.7 lakh from Rs.330.5 lakh in FY15. Its top-line and bottom-line have grown YoY
over the last five years.
On a standalone basis, its production grew 6% to 22532.71 tonnes from 21213.03 tonnes in FY15.
Equity Capital & Reserves: The Companys
reserves of Rs.100.7 crore are over 5 times its Capital Structure (Rs. in crore)
equity capital. Also, its debt is lower than the Particulars FY16 FY15 FY14 FY13 FY12
reserves, which is very healthy. Debt to equity is Equity Share Capital 23.82 23.82 23.82 23.82 23.82
also very positive. Reserves & Surplus 100.71 96.97 93.72 91.9 89.93
Dividend: TPPL has not paid any dividends in Book Value 52.28 50.71 49.34 48.58 47.75
the last 5 years in its attempt to retain the Secured Loans 51.17 49.43 56.29 46.17 52.16
available surplus to strengthen its net worth.
Book Value/Market Price: The stocks book value is Rs.52.28 and the stock currently trades at 0.40x its book value.

52-week high/low: The stocks 52-week high/low is Rs.39.70/17.80 and the stock is available at over 80% discount
to its 52-week high.
Interesting points: TPPL launched its IPO in 2010 priced at Rs.90/share. Thus, the stock is available at a huge
discount to its IPO price. Over the same period, the Companys production capacity has more than doubled and a
new plant has also been set up for the manufacture of CPVC products (a niche area). Currently, it has presence only
in 8-10 Indian states but aims to become a pan India company. Thus there is tremendous headroom for growth.
TPPL conducted a pan India Dealers Conference in September 2015 at its head office which was attended by ~450
dealers from across the country. It managed to obtain orders worth over Rs.16 crore from those dealers.
Also, Mr. Sanjay Agrawal, Managing Director, said that the Companys capacity to sell pipes and fittings was worth
Rs.225 lakh per day which started with only Rs.3.5 lakh per day initially.
Investment Rationale: TPPL mainly supplies to the following sectors - agriculture, power, building and
construction, telecommunication and infrastructure. It could be a potential beneficiary from the governments
special impetus to most of these sectors. Thus, the Company is poised for rapid growth and profitability over the
next 2-3 years.
At current valuations, this stock is quite undervalued. This is a young company with all the right ingredients for
growth. Investing in this stock is like sowing a sapling. With the right environment and the necessary support system
(water/manure) and protection, this sapling could grow to a strong and profitable tree.
Operations and Holding: Mr P. Subramanian, founder of Shanthi Gears Ltd and a well-
Shareholders %
known investor in the stock market, together with his daughter S. Sangeetha, holds around
Promoters 31.65
1.59% stake in TPPL. His entry creates value in growth-oriented stocks, which injects
confidence among investors. His investments usually deliver tremendous returns. FIIs + DIIs 1.85
Others 66.5
Conclusion: The stock is available a throwaway price of Rs.20.75. We have a Buy on the stock
Total 100
for a price target of Rs.39 in the short-term, Rs.90 in the medium-term and Rs.150 in the long-
term.
Risk/Reward Ratio: 20:80.
SECTORAL WATCH: AUTOMOTIVE

By Laxmikant Bhole
Two weeks back, we had featured the Agriculture sector and most of the stocks recommended have already flared up.
Among them, Nath Bio-genes jumped 47% from Rs.147.75 to Rs.216.65; AVT Natural Products climbed 27% from
Rs.39.35 to Rs.49.80; Coromandel International rose 8% from Rs.312.80 to Rs.346.80.
Investors must study the fundamentals and ecosystem of each company and make sound investments and surrounding
fringe parameters. This week, we present another profitable sector - Automotive.
Domestic Outlook: The automotive sector has grown over 8-10% over the last decade and today, contributes 7.1% of
India's GDP by volume and 45% to the manufacturing GDP employing ~19 million direct & indirectly. India is the sixth
largest global automobile producer with 24 mn vehicles in 2016. It is the second largest manufacturer of two-wheelers
and buses, largest manufacturer of tractors, sixth largest manufacturer of cars and eighth largest manufacturer of
commercial vehicles (CVs) in the world and is emerging as an export hub for sports utility vehicles (SUVs). It has the
largest base to export compact cars to Europe and Asia.
India is also a major market for car OEMs due to the growing working population and expanding middle-class, which will
continue to grow with the rise in per capita income. The passenger car segment is the fastest growing market in India.
According to Society of Indian Automobile Manufacturers (SIAM), the CV and two-wheeler segments have doubled over
the last 10 years whereas the passenger car segment has trebled.
The NDA government aims to make the automotive sector the engine of PM Modis Make in India drive and SIAM has
published Auto Mission Plan 2016-26 (AMP 2026) that outlines the government's vision in making the automotive
industry a key hub for driving the economy.
Key highlights:
1. AMP 2026 will make the automotive industry a major contributor to the Skill India programme and one of the
largest job creating engines in the economy.
2. The automotive sector to contribute 12% to the country's GDP over the next decade.

3. AMP 2026 seeks to increase net exports of the sector several fold and make India one of the largest automotive
export hubs in the world.
4. AMP 2026 has an aggressive growth target of 3.5-4 times to reach ~Rs.16-18.8 lakh crore by 2026 at an average
growth of 5.8-7.5%.
5. Simplified duty structure
a. AMP 2026 supports rationalization of custom duty on all raw materials, intermediates, components and sub-
assemblies used in automotive components and vehicles such that there is no inverted duty structure.
b. Policy should incentivize domestic capacity creation for imported items like a electronic components and
systems, high end plastics, molds and dies.
c. AMP 2026 stresses the need to encourage local capacity creation of electronic components as it is expected to
grow multi-fold in coming years.
d. The duty structure on Completely Built Units (CBUs) and policies for imports of used vehicles are recommended
to continue and provide impetus to local manufacturing.
6. Simplified Tax Structure - The heavy taxes levied on
auto manufacturers are likely to reduce significantly
with GST implementation. For the busy investor
7. Focus on Infrastructure Fresh One Up Trend Daily
a. Set up logistics infrastructure - dedicated Fresh One Up Trend Daily is for investors/traders who are
facilities and faster clearances for automotive keen to focus and gain from a single stock every
exports at Mundra, Chennai, JNPT and Mumbai trading day.
ports; Flexi deck auto-wagons for movement of With just one daily recommendation selected from
vehicles; Weighbridges every 100 kms on
stocks in an uptrend, you can now book profit the same
national and state highways; electronic tolling
day or carry over the trade if the target is not met. Our
etc.
review over the next 4 days will provide new exit levels
b. Accelerate physical infrastructure such as Roads,
while the stock is still in an uptrend.
Ports, Electricity, Railways, Water ways etc.
This low risk, high return product is available for online
c. Focus on building multiple dedicated freight
subscription at Rs.2500 per month.
corridors (DFCs) to facilitate movement of triple
deck wagons on a large scale. Contact us on 022-22616970 or email us at
d. Creation of social infrastructure around moneytimes.suppport@gmail.com for a free trial.
automotive hubs
Other initiatives: The government has permitted 100% FDI in this sector through the automatic approval route. As a
result, it attracted $15.065 bn FDI between April 2000 and March 2016. The government has also formulated a scheme
for faster adoption and manufacture of Electric and Hybrid vehicles under the National Electric Mobility Mission 2020 to
promote eco-friendly cars. The government is working with ISRO to create cheaper lithium batteries, which are a major
component in electric vehicles (EVs) and its high cost has been a major roadblock so far.
Investments: Global auto majors are ramping up investments in India to cater to the growing domestic demand and
leverage India's competitive advantage to set up export-oriented production hubs.
1. Electric car maker Tesla Inc. is likely to launch its products in India in the next few months.
2. BMW plans to manufacture a local version of below 500 motorcycle - G310R, in TVS Motors Hosur plant in Tamil
Nadu.
3. Ford Motors to invest Rs.1300 crore ($ 195 mn) to build a global technology and business center in Chennai for
product development, mobility solutions and business services for India and other markets.
4. Cummins will make India an export hub by investing in top components and technologies in the country.
5. Japans Suzuki Motor Corporation to invest Rs.2600 crore ($ 390 mn) on its second assembly plant and an engine
and transmission unit in Mehsana, Gujarat.
6. Chinas SAIC Motor to invest $1 bn by 2018 on a manufacturing unit in Maharashtra, Andhra Pradesh or Tamil Nadu.
7. Suzuki Motorcycle India has commenced exports of Made-in-India flagship bike Gixxer to its home country Japan in
addition to Latin America and neighboring countries.

8. Hero MotoCorp to enhance its participation in the Indian EV space by pursuing its internal EV Programme and invest
Rs.205 crore ($30.75 mn) to acquire ~26-30% stake in Bengaluru-based technology start-up Ather Energy Pvt Ltd.
9. Mr. Young Key Koo, Managing Director, Hyundai Motor India Ltd, has stated that India is a key market for his
company not only in terms of volumes but also as a hub for small products for exports to 92 countries.
Such investments coupled with suitable government policies make the auto sector one of the most lucrative from an
investment perspective.
Conclusion: The Indian automotive industry is expected to be the third largest automotive market by volume in the
world by 2026. With large automotive clusters emerging in the Delhi-Gurgaon-Faridabad belt in the north, Mumbai-
Pune-Nashik-Aurangabad belt in the west, Chennai-Bengaluru-Hosur in the south and Jamshedpur-Kolkata in the east,
the automotive sector is expected to grow at 8-10% CAGR over the next 10 years. While implementation of BS IV will hit
auto companies in the short run, the long-term view on this industry is extremely bullish.
Among stocks, investors should keep an eye on -
Car - Maruti Suzuki, Tata Motors, Force Motors, Mahindra & Mahindra
Tractor - Escorts, Mahindra & Mahindra, VST Tillers Tractors
Heavy Truck & CV - SML Isuzu, Ashok Leyland, Tata Motors, Force Motors
Two-wheeler - Bajaj Auto, Eicher Motors, Hero Motor Corp, TVS Motors
Auto-ancillary - Rico Auto Industries, Banco Products, Bosch, Munjal Showa, Munjal Auto Industries, Automotive
Axles, Shriram Pistons & Rings, Sundaram Brake Linings, Lumax Industries, Minda Corporation, Wabco India, Harita
Seating Systems, India Nippon Electricals, Sharda Motor Industies, FIEM Industries
Car Battery - Amara Raja Batteries, Exide Industries
Tyre - MRF, Apollo Tyres, JK Tyres, Ceat, TVS Srichakra, Balkrishna Industries
SMART PICKS
Market consolidating at 9130-9270
By Rohan Nalawade
The market is steady and the Nifty is moving in a tight range of 80-100 points waiting for a breakout from the 9130-
9270 levels. The earnings season has started and the results will determine the market trend. A closing below 9170 will
take the Nifty to 9100 and a closing above 9220 will take it to new highs of 9300-9400. Overall, 9000 is a strong support
level for the market and above this level, the market will slowly move in an upward direction and any positive trigger
from the corporate results will lead to new highs soon.
As forecast in the last issue, Bank Nifty was strong last week and will move towards the 22300 level. It is inching
upwards as some positive news is in the offing as Finance Minister Arun Jaitley has indicated to infuse funds in PSU
banks. Bank Nifty is slowly and steadily moving to new highs supporting the bull run.
Nifty will test 9400-9800-10300 levels in 2017. So, it is prudent to buy on dips and accumulate stocks from the banking,
cement, oil and gas sectors. Technically, the monthly chart of the Nifty still shows higher lows and higher close indicating
that the market is in a consolidation zone.
Among stocks,
Buy Bank of Baroda above Rs.174 for a price target of Rs.180-185 (stop loss: Rs.168)
Buy DLF above Rs.160 for a price target of Rs.170-175 (stop loss: Rs.155)
Buy ICICI Bank above Rs.278 for a price target of Rs.305-310 (stop loss: Rs.272)
MARKET REVIEW
Market corrects on global cues
By Devendra A Singh
The Sensex declined 245.16 points to settle at 29461.45 while the Nifty closed at 9150.8 losing 47.50 points for the week
ending Thursday, 13 April 2017.

On the macro-economic data front, activity in Indias manufacturing sector expanded at the fastest pace in five months to
March 2017 as output and new orders accelerated. The Manufacturing Purchasing Managers Index (PMI) compiled by
Markit surged to 52.5 in March 2017 from 50.7 in February 2017.
Financial services major Nomura stated, Indias GDP growth is expected to dip to 6.7% in the January-March 2017
quarter from 7% in the fourth quarter of 2016. But it will gradually recover to around 7.7% in 2018 supported by higher
consumption and public spending.
Regarding the soft industrial activity in February 2017,
Nomura said that demonetisation had severely hurt Free 2-day trial of Live Market Intra-day Calls
industrial activity. However, this impact is expected to A running commentary of intra-day trading
be transitory. Indias industrial output slipped to a 4- recommendations with buy/sell levels, targets, stop loss on
month low contracting by 1.2% in February 2017. your mobile every trading day of the moth along with pre-
The RBI in its monetary policy review meet on 6 April market notes via email for Rs.4000 per month.
2017, kept the repurchase or repo rate at which it lends Contact Money Times on 022-22616970 or
to banks unchanged at 6.25% but increased reverse moneytimes.support@gmail.com to register for a free trial.
repo rate to 6% from 5.75%. On RBIs monetary policy
stance, the report said given its view of a growth
recovery along with a pick-up in inflation in the second half of this year, the RBI is likely to stay on hold throughout 2017
with risks skewed towards a hike in early 2018.
The IMF in its latest report of World Economic Outlook said, Emerging markets and developing economies have become
increasingly important in the global economy in recent years accounting for over 75% of growth in output and
consumption, almost double the share of just two decades ago.
The external environment has been important for this transformation, it said.
It said that these economies have integrated into the global economy, terms of trade, external demand and in particular
external financial conditions have become increasingly influential determinants of their medium-term growth.
The still-considerable income gaps in these economies vis-a-vis those in advanced economies suggest further room for
catch-up favouring their prospects of maintaining relatively strong potential growth over the medium-term. However,
steady catch-up growth has not been automatic in the past. The growth of emerging markets and developing economies
has exhibited episodes of accelerations and reversals over time. Nevertheless, these economies can still get the most out
of a weaker growth impulse from external conditions by strengthening their institutional frameworks, protecting trade
integration, permitting exchange rate flexibility and containing vulnerabilities arising from high current account deficits
and external borrowing as well as large public debt, it noted.
The IMF said that despite the emerging market and developing economies increasing overall importance in the global
economy, particularly in the 2000s income levels of individual countries within the group are still relatively low vis-a-vis
those of advanced economies.
Key index dipped on Monday, 10 April 2017, on selling of equities due to global cues. The Sensex fell 130.87 points (-
0.44%) to close at 29575.74.
Key index surged on Tuesday, 11 April 2017, on fresh buying. The Sensex advanced 212.61 points (+0.72%) to settle at
29788.35.
Key index closed lower on Wednesday, 12 April 2017, on profit-booking. The Sensex fell 144.87 points (-0.49%) to close
at 29643.48.
Key index corrected on Thursday, 13 April 2017, on a sell-off. The Sensex plunged 182.03 points (-0.61%) to close at
29461.45.
The Indian stock market was closed on Friday, 14 April 2017, on account of Good Friday and Ambedkar Jayanti.
For future events, national and global macro-economic figures will surely dictate the global markets movements and
influence investor sentiment in the near future.
The government is scheduled to release data based on wholesale price index (WPI) and combined consumer price index
(CPI) for urban and rural India for March 2017 by mid-April 2017.
On the Asian front, Chinas macro-economic figures for March 2017 are scheduled to be released in the coming week of
April 2017.
On the Euro zone front, the Euro zone preliminary Markit PMI Composite index for April 2017 is scheduled to be
released on Friday, 21 April 2017.

EXPERT EYE
By Vihari
UFO Moviez India Ltd: Entertaining gains!

The share of UFO Moviez India Ltd (UFOM) can be bought for decent gains as this entertainment major is likely to post
good numbers in Q4FY17 and the trend is likely to continue in FY18.
UFOM, promoted by Sanjay Gaikwad, Narendra Hete, Valuable Technologies, Valuable Media and Apollo International, is
Indias largest digital cinema distribution network and in-cinema advertising platform (in terms of numbers of screens).
It operates Indias largest satellite-based digital cinema distribution network (in terms of numbers of screens) using its
UFO-M4 platform and D-Cinema network. The Company hit the capital market in April 2015 through its IPO priced at
Rs.625/share.
As of December 2016, UFOM delivered digital content to 5,052 cinema screens in India (>50% market share) and 1,622
screens overseas in the Middle East, Israel, Mexico and USA. Of these, it has long-term ad rights to 3,737 screens in about
1,900 locations providing government, local and corporate advertisers a strong transparent and customizable
advertising platform in a targeted region. It acquired a majority stake in Valuable Digital Screen through which it expects
to scale up advertising from 'Caravan Cinema' business (screening of sundown non-ticketed movies in rural areas).
UFOM links the fragmented ecosystems of film
producers/distributors and exhibitors. It works directly with Seminars on Financial Literacy Stock
movie producers and distributors for the secured, satellite-
based delivery of Bollywood and other India-sourced movies
Market
Place Date Time Venue
as well as movies from outside of India (excluding movies
from major Hollywood studios that have created the D- Pune 15/04/17 5 p.m. Badminton Court Hall,
Cinema standard format) across cinemas in India. DP Road, Vishal Nagar,
Wakad Road, Pimple
UFOM enters into arrangements with movie producers and Nilakh Pune 411027
distributors and charges for content delivery (VPF E-Cinema)
Mumbai 22/04/17 2 p.m. Mahila Udyojak
to provide their movies a broad exhibitor client base through
Sanghatana, Times
its network. It also provides movie producers and distributors
Foundation, Times of
a licensing process for the screening of their movies. Its India Bldg. Opp. CST
business model is quite unique in nature and it does not face Railway Station
any serious competition from existing players.
Also a seminar is likely to be scheduled in Dadar (Mumbai)
During Q3FY17, UFOMs revenue grew marginally to Rs.148.4 at the end of April 2017 wherein renowned Arthakranti
crore because of lower than expected ad revenue (+5.2% pioneer Shri. Anilji Bokil will be the main speaker followed
YoY). Demonetisation had severely impacted its ad revenues, by Aaj Rokh Udya Digital lecture by Chandrashekhar
which led the management to curtail its guidance for the ad Thakur.
revenue segment. As a result, net profit fell 15% to Rs.13.6 Chandrashekhar Thakur: CDSL BO Protection Fund.
crore and EPS was Rs.4.9. During 9MFY17, its net profit fell Tel: 9820389051; csthakur@cdslindia.com;
4% to Rs.43.7 crore on 4% higher revenue of Rs.441.5 crore BSE Bldg., 16th Floor, Dalal Street, Fort, Mumbai 400001
fetching an EPS of Rs.15.8.
With an equity capital of Rs.27.5 crore and reserves of Rs.489 crore, its share book value works out to Rs.188. Net debt
of Rs.50 crore gives it a DER of 0.1:1. The value of its gross block is Rs.846 crore. The promoters hold 29% of the equity
capital, FIIs hold 25%, DIs hold 25% and PCBs hold 5%, which leaves 16% stake with the investing public. Its marquee
shareholders include SBI Mutual Fund, Reliance Capital Asset Management, DSP Blackrock, Equinox Partners, Max Life
Insurance, Grandeur Peak Global Advisors, Nomura Singapore, Reliance Nippon Life Insurance Corp and Union Asset
Management.
UFOMs digitization and delivery model has been a key driver for extensive digitization of Indian cinemas and has
enabled wide-spread and same day release of movies across India. The Company provides value to movie producers and
distributors by reducing distribution costs, providing reach to a wide network, providing a faster method of delivery of
content and reducing piracy through encryption and other security measures. It provides value to movie exhibitors
throughout India by providing access to first day release of movies on its digital platform.

UFOM has created a pan India, high impact in-cinema advertising platform with an aggregate seating capacity of ~1.74
mn viewers and a reach of 1,911 locations across India as at 31 December 2016. Its in-cinema advertising platform
enables advertisers to reach a targeted, captive audience with high flexibility and control over the advertising process. It
also allows small exhibitors who otherwise are not able to effectively monetise their advertising inventory due to their
limited scale and reach to receive a greater share of ad revenue than they are able to using traditional advertising
methods.
UFOM currently has a 54% distribution screen market share in India with ~4,984 screens on its network which
constitutes about 51% of its revenues. It delivered a good set of numbers for FY16 and its performance is likely to
improve going forward on the back of good content pipeline and advertisement growth.
A favourable macro-economic environment is essential for any business to operate efficiently. Government initiatives
like the 'Make in India campaign, other key reforms like the passage of the GST Bill and the implementation of the 7th
Pay Commission, Model Shop and Establishment Bill (2016) and One Rank One Pension (OROP) scheme, etc. are likely to
result in higher consumer discretionary spends which will benefit the Media and Entertainment space.
To further propel the growth in the foreseeable future, UFOM has introduced new strategic initiatives like Caravan
Talkies, Nova Cinemas and hyper-local advertising solution - UFO Framez, mainly driven by innovation.
UFOM will be the major beneficiary of ramp-up in in-screen ad spends given its successful strategy to aggregate ad
inventory of single screens and its advanced technology offering more transparency and comfort to advertisers. The
Company is quite confident of achieving 30% ad revenue growth for FY18.
Based on its going, UFOM is expected to post an EPS of Rs.23 in FY17 and Rs.32 in FY18. At the CMP of Rs.459.30, the
stock trades at a forward P/E of 19.96x on FY17E and 14x on FY18E earnings. A reasonable P/E of 20x on FY18E
earnings will take its share price to Rs.640 in the medium-term. Accumulate this stock at every decline.
TECHNO FUNDA
By Nayan Patel
REVIEW
Patspin India Ltd Kilburn Engineering recommended at Rs.63.45 last week, zoomed
(BSE Code: 514326) (CMP: Rs.23.95) (FV: to Rs.69.30 delivering 9% returns in just one week.
Rs.10)
Onward Technologies recommended at Rs.75.20 on 27 March
Incorporated in 1991, Mumbai-based Patspin India
2017, zoomed to Rs.95.80 last week delivering 27% returns.
Ltd (Patspin) manufactures and sells combed
cotton yarns of various counts. It also exports its Makers Laboratories recommended at Rs.99.95 on 13 March
products. 2017, zoomed to Rs.134.80 last week delivering 35% returns.
Patspin has an equity capital of Rs.30.92 crore. The Phyto Chem (India) recommended at Rs.51.55 in the same issue,
promoters hold 65% of the equity capital, which zoomed to Rs.79.95 last week delivering 55% returns.
leaves 35% stake with the investing public. Tamil Nadu Petroproducts recommended at Rs.30.75 on 13
During Q3FY17, Patspin posted sales of Rs.139.65 February 2017, zoomed to Rs.56.25 last week delivering 83%
crore as against Rs.127.53 crore in Q3FY16 with returns.
431% higher net profit of Rs.2.23 crore fetching an Lancor Holdings recommended at Rs.28.35 on 16 January 2017,
EPS of Re.0.69. During 9MFY17, its net profit zoomed to Rs.35 last week delivering 23% returns.
skyrocketed 524% to Rs.3.06 crore from Rs.0.49
crore in 9MFY16 on sales of Rs.393.12 crore Joindre Capital Services recommended at Rs.13.59 on 18 July
fetching an EPS of Re.0.91. Investors must note 2016, zoomed to Rs.29.70 last week delivering 118% returns.
that its 9MFY17 PAT of Rs.3.06 crore is 292%
higher than its full FY16 PAT of Rs.0.78 crore. Financial Performance: (Rs. in crore)
Currently, the stock trades at a P/E of 22.18x. The Particulars Q3FY17 Q3FY16 9MFY17 9MFY16 FY16
Company posted fantastic numbers after a very long Sales 139.65 127.53 393.12 379.94 496.3
time and is likely to continue this strong PBT 3.24 0.42 4.66 0.49 0.57
performance in the coming quarters. Investors can Tax 1.01 - 1.6 - -0.21
buy this stock with a stop loss of Rs.19. On the upper PAT 2.23 0.42 3.06 0.49 0.78
side, it could zoom to Rs.32-34 levels in the medium-
EPS (in Rs.) 0.69 0.11 0.91 0.15 0.7
term.
******

Weizmann Forex Ltd
Incorporated in 1985, Bengaluru-based Weizmann Forex Ltd (WFL) provides money changing and transfer services. It
operates through three segments - Foreign Exchange; Power; and Others. It purchases and sells foreign currencies, notes
and paid documents; and provides travelers cheques, Weizmann Forex co-branded prepaid forex cards, Weizmann
Forex multi-currency travel cards, foreign currency demand drafts and telegraphic transfer services, remittance
products and cash to master services as well as money transfer services. It is also engaged in the generation and sale of
wind power energy and import and export of foreign currency. In addition, it provides travel care insurance for
individuals and families, students, and groups; mobile and DTH recharge services; and tours and travel services
including international and domestic air tickets and customized holiday package services.
WFL has an equity capital of Rs. 11.56 crore supported by reserves of Rs.88.96 crore. The promoters hold 74.77% of the
equity capital, which leaves 25.23% stake with the investing public.
During Q3FY17, WFL posted sales of Rs.1514.91 Financial Performance: (Rs. in crore)
crore as against Rs.1180.94 crore in Q3FY16 with Particulars Q3FY17 Q3FY16 9MFY17 9MFY16 FY16
73% higher net profit of Rs.7.89 crore as against Sales 1514.91 1180.94 4580.06 3673.59 4779.42
Rs.4.56 crore in Q3FY16 fetching an EPS of Rs.6.82.
PBT 12.16 7.6 19.74 27.6 35.09
During 9MFY17, its net profit declined to Rs.12.37
crore from Rs.16.81 crore in 9MFY16 on sales of Tax 4.27 3.04 7.37 10.79 13.22
Rs.4580.06 crore fetching an EPS of Rs.10.70. PAT 7.89 4.56 12.37 16.81 21.87
EPS (in Rs.) 6.82 3.94 10.7 14.54 18.91
WFL is a regular dividend paying company and paid a
dividend of 75% for FY16. Currently, the stock trades at a P/E of 34.78x. Investors can buy this stock with a stop loss of
Rs.505. On the upper side, it could zoom to Rs.545-575 levels in the short-term.
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be reliable but their accuracy and completeness are not guaranteed. Money Times or the analyst/writer does not accept any liability for the use of
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