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158 views69 pagesDalal Street Investment Journal - October 24 2022
Uploaded by
Pete MichelleCopyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF or read online on Scribd
INDIA'S NO.1 INVESTMENT MAGAZINE SINCE 1986
DALAL STREET
INVESTMENTJOURNAL
DEMOCRATIZING WEALTH Sea
Cece eee ee eC)
Cover Story
Bae Nar) We
Pet rg Visit https://www.
fror
‘com/doar
Telegram
nts a
i
Personalinanc
fe investing practices. ANAND RATHI WEALTH LIMITED
(Formerly known as Anand Rathi Wealth Services Limited)
Registered Office - Express Zone, A Wing. 10th Floor, Western Express Highway, Goregaon (F), Mumbai - 409 063, Manarachtra
CCN : U67120MH1995PL.C086696, Website www.anandrathiwealth. ia
4 >
CED | | EE
Dd Share
y
EXTRACT OF STATEMENT OF UNAUDITED CONSOLIDATED
FINANCIAL RESULTS FOR QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2022
(in VR Lakhsexcet 5)
aif veor Ended | Year Ende
Sees Boss | Seer
te 0, os | agszr7s | s17ast |
Prot before Tox 5753.37 2 | aiiz05 | 1.08529 | 074s | 1676137
rote Tox 4205.8 | 997139 | 300s | 020037 | omez | 1267000
Total omerehenive lncorveerthe percd/vear | 426477 | 3.93401 | 3sa.aa | goe7e | 6aa012 | s2.68801
Icomprnng aott or te era |
otsercompeshenve some te 3) | = a
Pid -up cata face vive of S/-rachfaly pad | anaaai | ponoai | ape | 20naai | 21 208081
Eanicg per hare face wive ct Re S/n?
‘ear Ended
SOS EORE | 0.067022 Sa09.202z | 3008-2025 | SOS I0RT
(Unaudited) | Unaudted)| (Unaueted)| (Unsudred) | [Aveitec) |
Teme Hom Opes waar | wz7e7e | garam | 50036 | 192767 | 10.368
Pro Before Tax 370690 | 525032 | apva.is | 1096122 | 7ses40 | 1659545
Prof Aer ae ‘a2ea.17 | ssa70r | 3oisa5 | s210ie| sssaar | 12503
Date: Ocobera5, 2722
Place: Mumbai
Pt
Anand Rath
Chairman & Non bxeevive rector
Thank You!
Today, we take this opportunity to
‘Thank all our Clients, Investors and
our Employees for being a part
of our suecess journey.
ANANDRATHI
Private Wealth, uncomplicated
sonalWimaroeandrathiwealth. in Scan to rea
CONTENTS ce Meal
20) aan Hor vee”. Pepedit met
VET Cee Os eet
Higher Next Diwali!
Regulars
06 Editor's Keyboard
67 Company Index
08 Market Watch
14 Technicals
41 Commodity Market Watch
3 42 Global Market Watch
Recommendations 43° QueryBoard
10 12 13 ae
Choice Scrip Low Priced Scrip Hot Chips
Brat ete ec
reeset ceca g
Ree cy
Bees era
website www.DSU.in
Analysis
INDUSIND BANK
Reeth ora) veer ta rer ett ee tO) ‘Communication Feature sections
Pioneering Efforts Pave The Way are advertorials provided by the
For Good Growth ‘company & carried on “as is” basis.
4 DALAL STREET MVESTMENT JOURNAL I OCI 24 NOV 00,2022 betiin © NSE uae
‘Samajh kar
Invest kar
Always stay alert
& do not fall for misleading promises
of guaranteed returns
Returns in securities market
are subject to market risks. £"Unknown
No one can guarantee it.
Yo
Any promise of guaranteed = Raa a a
returns in securities market is °-/ een th te
prohibited by law, Guaranteed monthly
en a)
Any investment in such
schemes are not eligible for Roar
compensation from the Se Cr atc
Exchange.
You may report such practices to us on [email protected],
or call us on 1800 22 0059
For more details visit www.nseindia.com
Sourced from © 9. & ~ @indianPersonalFinance 9
Pharmaceutical Sector and China One Plus Story
BORN AA Novo a2 ‘Yur cover story inthe previous issue meticulously explained the secirs thet
Stand tone frst crayging Chins Pls Oncatory Cas you shed some
rete Cop ttos : ;
ae oruein ight on whether the domestic pharmaceutical sector wal als gah from this
Vis ance strategy? ‘Ayansh
ManagingDircr 8 THor one Contacor
oe Graplio, Editar Responds: Thank you for your povosmraging wens: "The China Plas On
sear veep eta ole ey ice por ee ects cciteal cog
eeceier Subscription CatamerSerice favourable factors of production, conducive business environment and
parce thao Inentivsed government polkic. To take advantage ofthis opportuniy and
aoa coeweee becomtea vb alerativete China, pharmaceutical males ee becoming ote
Footed eae ‘aggressive with new produc Inches expansin of copadtes and heavy capex
ety beh plc Bevisrs head cont avg da lignes ta onlr tL Ba bet
ae Sonoo Tear. Mnagr sch specific opportunities nthe sect, Keep wing tous Happy investing!
Sinn Chom Doma Epes
Shoe Baha ent Bagh
‘Arman Mahan iyedtDadia R id ti
tance faranes ‘eCO n mendations
I ES
° By 165.70 Choice Scrip 10
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DSIJ Private Limited Suess By 121010 Teas 5
8 Britannia Industries ° By 3796.25 Cove Story 2
Eocene Gh © By 1108.90 Cover Story. 2B
B020-66663603 OR service@DSIhin ‘Container Corporation Of dia ® Hold 707.60 Queryboad 45
Deepak Fertilisers & Petra. Corp @ Buy 965.70 Technicals 5
Mamta Oe
419-A.4th Hor, Arun Chambers, Tardeo, Next to AC Market ‘Se Exipments oy 4325 Kensie am
Sant abose moa erase Fltexinia = 975 lowes 12
‘Fine Organic industries. ° By 6900.00 Kerbside 47
ane oie
(fice No.211, Vacon Planum uae, Gillette india © told ‘5114.15 Reviews 46
Netto. Vian Nar Pane 410} Codey Prissy 14205 fee a
‘B 010-66663-800/801 Gujarat Alkalies AndChemicals © Buy 885.00 Cover Story ri)
‘Hf Bank © By 1433.00 Cove Story. 30
‘Hindustan Aeronautics: © By B37.00 Cover Story vu
DFC Fit an = By 430 ersoy =
Indiabulls Housing France = ‘Held 10445 Reviews 46
Pst and ber Nea Sevan lr: Rash Pad STEW
iatculetAticencssNechnieePata Peseta Poneae anak * By 26565. HotOhos B
‘Issues (1) Pvt. Lid, EL-179, TIC Industrial Area, Electronic Zone, Near. ndusiné Bank ° By 123.20 Analysis 16
ET eee: eka * oy 4425 Cove Stoy 3
et ehh Bch eee SE ee ‘International Travel House ° By 221.10 Queryboad 45
[peter Safin pelowyefelaeeires
DablSteinvestnet ournlbds to reponeisayor any emcee tat NOR Aceses Buy 29.70 Corr toy 4
Giese tise me cae reudtoguemia ce ‘Halpataru Power Transmission © Buy 43.20 Hots: B
Sat einen gee moa yA a a 6730 CowsSoy 5
ere iain sal Stee ir ole spony im NHPC = a i 2.00 ee 4
Sees ate tle ae 310075 Query “4
heleor pet wllon iter cones us Dat Suet aed wa The PEDIC ° By BEES Cove toy 36
Nee Crates eee ouceeveomeemt oct
SiaWaddahs iene: Nie Mi 220 Lae a
DEABCe BP - Book Profit «BPP - Book Partial Profits «BL - Book Loss
sau sana fr tngen hen QRASAADAENGA 2012 | DALALSTREETINVESTHMENTOUMNAL 7 This Diwali Let the
Lights Shine Brighter!
Jot has happened since last Diwali that has led to the underperformance of the equity
‘market globally. Infact, the equity market is yet to touch the level that we traded at last
Diwali. The uncertain characteristics of the economy were misread by even the battery
‘of experts from Ivy League. It reminds me of a quote of Israeli-American psychologist
Daniel Kahneman who said, “We are prone to overestimate how much we understand about the world.
and to underestimate the role of chance in events. We can be blind to the obvious and we are also
blind to our blindness,”
So, inhhindsight it seems that the central banks waited too long to act and irrationally allowed the
proverbial inflation genie out of the bottle when the inflationary curve started to rise in May 2021
‘This led the central banks to raise rates at the fastest pace in recent history. ‘The problem with such
hikes is that it tends to disrupt the financial markets and economy. We are already witnessing the
impact ofthis in other markets such as bond and currency that have become quite volatile.
Governments have had to take a U-turn on their policy decision to pacify the market. Therefore,
volatility is hereto persist for a while now.
Nevertheless, in all this volatility, the Indian equity market remains an oasis of hope. Most of the
‘malice presenti the financial market elsewhere has not impacted us much and we have remained
resilient. The Indian equity market has outperformed most of the emerging as well as developed
‘markets in the last one year. This Diwali can be one of the best times in recent years to buy equities
because the mood is that of cautious optimism and the valuations are reasonable, thus providing a
better margin of safety.
Our cover story titled “Top Diwali Picks’ in the current issue discusses market performance over the
past one year and throws some light on which sectors to focus on in the coming Years, The best part of
the cover storys our selection of stocks. The Diwali portfolio at DSI} hasa tradition ofbeating the
‘markets consistently and we ae fairly confident that this postfolio will also bea step ahead of the
‘markets and win with flying colours. Meanwhile, the textile sector has been quietly consolidating and
‘making its presence felt in the global markets.
Our special story in this issue talks about the textile sector in India and discusses at length the
‘opportunities and threats that lie therein, Hluge opportunities exist in the textile sector and investors
should benefit from the natural advantages the sector presents. The best way to create wealth in the
stock market isto focuson sectors where maximum capital expansion is taking place.
Also itis always profitable to remain invested in stocks or sectors where the earnings growth is most
promising, consistent and visible. The next 12 months are undoubtedly going to be thrilling for each
of usas the prominence of India grows globally. Some of the biggest money-making ideas will be
churned in the next few years by the equity markets in India, My sense is that untiland unless any
other ugly skeleton does not come out of the closet such as the collapse of any major institution, we
may see Nifty well aver 20,000 by next Diwali So here is wishing you and your family a very Happy
and Prosperous Diwali. For now, the dark shadows of the pandemic are behind usand it i therefore
time wo rejoice!
es
if
it fob
RAJESH V PADODE
Managing Director & Ector
Sourced from Telegram Channel - @IndianPersonalFinance Market Watch "
Hopes Pinned On The oe
Festive Season ere eR US CUT
WEE CUT
n September 202, Indsannual_.| numbers, MCG aso has seen 20.49 per MURUSSQOLUT 300
Wholesle price ination fate "| cent dip in thelast ornightand closed i
deceaed fom 2ATpereentto | staleelatl577s01 on Oceber a. BUSA UCU
sores ct wndensinating Sales cents adsuen percent MUR RCM
a Thawaclelowetredigstnee | conscunsquetal dean he past PUT ALTE cE)
September 2021, Onamonthiybasi,__| three months
choles prices dropped moreby 065 Oe ance
per centat the end of September after a_| In the festival run up to Diwali, hit
Seer eae ne nae | nee cts eI UTED
Sensex dosed higher by 1,168 points at | which will result instrongergrowth in |) )) ler] Ie) U0
the 57,919.97 level on Friday, October October. The healthcare sector also
14 recovering from the sharp slingin | closed onthe lowersideon October 4. LELCUICAC LIL)
the last fortnight with strong support and was down by 069 per cent at the
from echnolgy harcrand bude The || 2998089tre Forth benking coor MAMA CLG
power ministry said itis takinginitiatives | Prime Minister Narendra Modi has investors (FPIs) sold shares worth
Tprintegration oftonfosl fud energy | Inunched 75 dgitalbanking units across | €897826 crore while domestic
byimplementaten ofareen energy” | 75 dstict wih the intention to promote | institaonal iveston (Dll) were nt
corridors. financial inclusion and to offer real-time | buyersto the tune of Rs 8,055.05 crore
unto ca rettte Cations Inthe inden eqty market inthe past
‘As such, the power sector saw a fall of grievances. The foreign portfolio 15 days. 3
0.17 per cent o a level of 4,603.12 points.
‘Therealty sector, on the other hand, rose
by 0.16 per cent to end last week atthe
3,346.22 mark, During the September
‘quarter, passenger vehicle salesincreased
by 38 per cent to 1,026,309 units as
against 741,442 units in the similar
period of the ast fiscal. The automobile
sector saw an increase of just 0.01 per
cent in the last fortnight and traded at a
level of 28,595.49 points. Moody's, the
global leading rating agency, said the
increase in crude prices will weaken.
Indian oil companies if net realisation
dorit goup. The oil and gas index has
seen a significant drop of 1.52 per cent
ons eT rT
tnadcosed atthe 18,001 19love mars Cee
tise tak 8 won 02 12413
‘The metal segment has also seen'a boom oer ‘api 460312 “017
by more than 4.5 per cent and dosed at ety 33000 3346226 Bo “153643 wa
z Ch Alsen oy ho aso swe Onn nen 30% BR
Belen oolet- Ase in bees oikas ao ons a3 nea ans 0%
surged ta record in October nthe kas uxt one Ag
immediate aftermath of Russia’ attack Se toat2e 213802 2asTa
and rise of corona virus cases in some Micay 35558 2470386063 rocz ann 5.5
tities in China The TT sectorhasscena | Saux ILS S13157 206 soc mo 8
surge by more than 4 percent and sons 460m san ius a2
reached a level of 28,338.37. IT. ees teeeees oie 30022 59058. O36
; Sue S7AML 48
companies in HIFY23 have seen IT rain Pen ees 08 Mec
fresher hiring exceeding the HIFY22 ner 37S age? 36h
‘Sourced from Telegram Channel - @IndianPersonalFinance
—_DALALerneer MvesTMENT JOURNAL 1 Cr 2. SINCE 1986
ITS 3
IMSS
CHOOSE A PRODUCT AS PER YOUR INVESTMENT PLAN
ee MID BRIDGE TREASUNY ee
LargeRhino TIS MICANHS
Blue Chips Best Mid Cap Best Small
Stocks Stocks Cap Stocks
A
Best Long term Long Term Stock
Contrarian stocks to TNS tant 1 ad
Stocks invest for Growth Value based
er
MULTIBABGER PIGK
Multibagger Stocks
See
OREN NTH
GIVE A MISSED CALL ON 02066663882
INVESTMENT ADVISOR SEB! (REGISTRATION NO. NADOOOOTI42) | RESEARCH ANALYST SEBI (REGISTRATION NO. INHOOO006396)
pela B
WWW.DSIJ.IN *For visual representation purpose only Recommendations
Angel One Ltd
CASHING IN ON AN UNTAPPED MARKET
ndias broker market is growing ata
CAGRof 8 per cent. While more
than 55 percentof the population
inthe US investin stock markets,
the figure for India isat a mere?
per cent. There isz huge gap which
presents tremendous potential for the
Indian financial brokerage industry. In
thisdomain a quality and strong business
entity is Angel One. Angel One Lid. isa
diversified financial services firm that
specialises in stock, commodity and
currency brokerage as well 2s institutional
broking, margin trading facility provsion,
depository services, distribution of
mutual funds lending asa non-bank
financial company (NBFC) and corporate
agents of insurance companies.
In the Indian capital markets, Angel One ie
‘one ofthe strongest lat fee players on the
sectlar growth story. With largest and
most exctusive network of almost 18,000
authorised persons registered with the
NSE, thecompany has a revenue sharing,
arrangement with these individuals forthe
broking and cistrbution business earnings
created by clients abtained by these
individuals. The FY22 payout to these
authorised people of 50 crore was up
51.6 per cent year-over-year, reflecting the
increasing customer baie and client
at
CHOICES
1 YEAR INVESTMENT HORIZON
Ee Seo
Ta
Tre s.a0 988) —4080 TIED
Iistowes 3515317 362268
Tes, 08518685 LD
woesoenas 3H0K0 719 4m) TH
KLek | 580 TSB IB
‘activity shown in robust average daily
turnover and a very busy IPO market.
The business has formed strategic
alliances with and integrated a wide
range of third-party software platforms,
including Vested, Small Case, Sersibull,
Streak, Quicko and Markets Mojo, The
‘company’s revenue has been increasing at
aCAGR of 43 per cent during the past
three years. The FY22 revenue stands at
%2,292 crore. A net profi of 625 crore
‘was realised by the corporation in FY22.
As of now, the business enjoys an
Equity
‘operating margin of 40 per cent. Inthe
second quarter of FY23, powered by
record-breaking transactions of retail
derivatives, Angel One top-line grew by
36per cent to 717 crore on a sequential
basis
Given the management’ dedication to
growth and investment in new technical
expertise, sing payroll expenditure
seems inevitable. Profit ater tax
increased from €134 crore in Q2PY22 to
3214 crore in Q2FY23 due to sustained
client acquisitions, rise in the volume of
orders and cost discipline The average
funding book for clients of the company
increased 108.3 per cent to 81,500 crore
in FY22 from 720 crore in FY2I. Given
the relatively low penetration of
there
is still agreat deal of space for additions
‘The return on equity (ROE) for Angel
One at the end of FY22 is 46 per cent and
return on capital employed (ROCE) is
355 per cent.
“The stock is currently trading ata price to
earnings ratio of 17.7 times. The company
generated 2558 crore in cash from its
‘operations in FY22. Asa resultof the
firms solid foundation, it has experienced
rapid expansion. The company will soon
belaunching its android mobile
application in late Q3FY22 named ‘Super
‘Ap! Going ahead, customer additions
are expected to revert downwards, thus
impacting broking revenues.
Nevertheless, company has enough
levers to maintain margins by slowing
down its morketing spendin a case of
slower customer addition environment.
‘Because of the high growth penetration in
the Indian financial sector. low
substitution effect for Angel One services,
strong fundamentals, attractive valuation
and promising future, we advise investors
toBUY. 3
Promises ees ey
10
Sourced _ islbriiee d a
peeseet a
cy
Last Five Quarters (%/Cr) (Consolidated)
eprrenr)
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ones an
a x le Mola
ac ‘520 tpogPomt «TO 2663) 805 28 eS
ee fies nas 1888521
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B18 8285 8G 8786 BBE
JIndianPersonalFinance DALAL STREET
INVESTMENTJOURNAL
DEMOCRATIZING WEALTH CREATION
DALAL Saf
SUSIE
We are ready to serve you directly with benefits
Subscription Benefits
, ,
Magazine Availabilit Seale Team hela aay
DSI] Subscribers get to access
ema first on the DSI]
site and DSI} App.
Rea
DSU) Subscribers get access to a care ‘
team for any gullance and carly. EEaaea nen
= DSI) Subscribers are promptly informed
Access to DataBank when to exit a position via SMS, Email
: ‘and App Notification
DSI] Subscribe iy
Hence, access your favourite magazine on DS\J site and
DSH App by subscribing with DSIJ directly,
Beer)
ormation, give a missed call on 02066663889,
DO mas FILATEX INDIA LTD.
here are some specific factors
that help the shares of a
company to outperformand
one of them is the improving
return ratio. Filatex India,
engaged in the manufacturing and
trading of synthetic yarn and textiles, is
‘witnessing such a trend, The product
offering of the company consists of
polyester chips, drawn textured yarns,
partially oriented yarns, fully drawn
yarns, air textured yarns, polypropylene
‘muttifilament crimp yarns and narrow
‘woven fabrics. It also produces some
specialty products such as Filigree,
Ocean, Chubby Yarn, Cotsion, Soie FIL,
Flexi FIL, ete. The production capacity of
the company is 400,320 tonnes per
annum, Filatex India hasa presence in 45
countries across ive continents.
‘The company has focused on improving
its value-added product portfolio in the
last 5-6 years. The expansion in drawn.
textured yarns and fully drawn yarns
production capacities over the years has
resulted in an increase in their revenue
share as well s improved the blended
‘margins. The company caters to diverse
end-users induding home textiles and
furnishings, outdoor clothing and
athleisure, wide range of apparels,
‘women inner wear and industrial use
Cees ees eed
source:
12
Recommendations
MAINTAINING AN IMPRESSIVE LEAD IN TEXTILES
PRICED SCRIP
1 YEAR INVESTMENT HORIZON
am
ES
my
tas amt
«cases. Despite the lingering effects ofthe
pandemic, the company managed t0
achieve anall-time high production
volume of 41,480 metric tonnesin FY22,
by utilising 100 percentof its yarn
capaaty.
Initiatives undertaken by the Indian
government to boost the textile sector
and the release of pent-up demand for
textiles have aided this increase. To
improve the financial standing of the
company, Filatex India decided to use
this opportunity to prepay alarge share
ofits erm loans, resulting ina reduction
ofits debt to equity ratio to 0.33 times
Equity
from 077 times, Return on equity (ROE)
alto improved from 24.43 percentin
FY21 to 32.76 per cent in FY22 and
return on capital employed (ROCE)
improved from 21.01 percentin FY21 to
31.16 per cent in FY22. In view of the
company’s strong performance, the
Board of Directors approved « buyback
offer for an amount of 859.50 crore
‘The Board of Directors also
recommended « final dividend of 10 per
cent per equity share for FY22.
Consistent growth in operating margins
along with a focus on long-term debt
reduction has resulted in significant
{improvement in the company’s interest
coverage ratio. The interest coverage
ratio increased from 7.73 times in FY21
{024.47 in FY22. Positive
‘macroeconomic factors along with
judicious decision-making, prudent
strategy and a conscious decision to
focus on value-added products have
resulted in improving the profitability of
the company over the years. ‘The profit
after tax was €302.73 crore in FY22
compared to 2165.83 crore in FY21, an
increase of 82 percent.
‘The company has generated a profit of
4,152 crore during the course ofthe
previous 12 months, The operational
‘margin for the company is 13.9 percent
and the net profit margin is 7.9 per cent.
‘The revenue forthe three months ending
Juune 2022 increased by 46 percent
‘quarter over quarter to reach 21,023
crore, while the net profit for the quarter
totalled 243 crore for the company. The
‘company’s operations broughtin a total
(0f304 crore in cash during FY22. The
price-to-earnings rato ofthe company at
the moment is 7.68 times, Due to its
strong fundamentals, improved
performance and positive future ovtlook,
‘We recommend BUY. a
CORNET SY OT STOTT SCTE
Se coo
Yolmne—I0375 eNO TO 8S BRST
ammes = ‘Other Income 659 193 1195 678 156
ni 50 pata 8) 8} TIMID A
re Soe goeet so sto tt eo) 100
Kero OSSD
«ty 6m 50 40 6m 50
_ ety Teel, = @indianPersonalFinance INDIAN BANK
BSECODE | Volume Face Value
532814 200,780 710
| T[odian Bank is amedium-sized bank
offering deposits, loans and services.
| Die bankssegmentsinclade treasury,
conporate and wholesale banking, retail
banking and other banking operations. In
QUFY23, the interest earned improved
from ¥9,625.82 crore to 810,165.86 crore.
‘Other income contracted from 21,926.78
‘rorein QUFY22 to®1,731.67 crore in
‘QLFY23. On the contrary. net profit
| zoomed 54 per cent, reporting at
11,355.59 crore compared 10887645
| crore. "The company’s gross NPAshave
decreased to 8.13 per cent from 9.70 per
cent in QIFY23 whereas capital adequacy
ratio, which ensures the lowering of risk of
banks becoming insolvent, has improved
‘0 168 per cent. Advances have grown 9.1
per cent on a YoY basis whereas deposits
zoomed 82 per cent with an 8 per cent
in current and savings account
ratio (CASA). The bankhhas reported a
‘The scrips in this
columa have been |
recommended
with a 15-day investment
horizon in mind and KALPATARU POWER TRANSMISSION LTD.
carry high risk. Therefore, BSECODE | Volume Face Value
522287 7,275 2
investors are advised to
take into account their risk
appetite before investing,
as fundamentals may
or may not back the |
recommendations
eee em Ota
eer)
Sourced from Telegram Channel - @IndianPersonalFinance
MP -2215.65,
Target Stoploss
221-232 %188(CLS)
ee enor
Some t)
La Volume
Town ser)
1.009002 1931
13.00.02 3s
1600.02 s6
v-0¢am2 08
00am 20070
healthy operational performanceand
also has witnessed improvement in asset
quality. Hence, we recommend BUY.
cmp -2433.20
Tareet Stoploss,
465-480 *404 (CLS)
alpataru Power Transmission
Ltd. isa global EPC player with
liversified interest in power
transmission ang distribution, oil and
‘gas pipeline, railwaysand biomass-based
power generation. The company
reported good consolidated quarterly
‘numbers for June 2022 with net sales at
33,677 crore, up by 14.76 per cent from
33,204 crores of June 2021. The
quarterly net profit marginally increased
by 1.15 percent wo 888 crore from 887
crore inthe same quarter ofthe last
fiscal. The operating profit improved
2.81 percent to 8329 crore for the Jane
2022 quarter from 2320 crore for the
June 2021 quarter. The margins were
impacted by higher commodity prizes
and freight costs. The company hasseen
strong order inflows led by order wins in
space. The new order pipelines expected
n the coming quarters, Hence, we recom
3
(Ching price as of Oct. 18,2022)
13 Recommendations
NIFTY Index Chart Analysis
MARKETS CONTINUE TO BE IN A STATE OF CONSOLIDATION
Equity
he global tremors are becom-
increasingly violent. Tere
have been consistent cases of
being up one day and down
the other with bg swings. Gap
‘opening and intraday recoveries have
become habitual for the equity markets
After the US CPI data announcement, the
Dow index opened sharply lowerand
recovered 1.400 points from the opening
Towson Thursday. This has influenced the
Indian market to recover the losses atthe
weekend on Friday. As the benchmark
index recovered over percentage points, the
Nifty has formed an inside bar on the
‘weekly chart, Otherwise, it would have
been a negative candle
Roadmap for the Next 15 Days
‘oer en pean Pea
icicle tenoien rep COeoeelaeh 7 MICE ys
sevmeroereamemn wne-iuxn amsobiontescinma diets agg
tion. Consolidationis going on between
the long-term 200 DMA and the
short-term average 50 DMA. The inside
bar and the narrowing Bollinger bands
suggest that the consolidation may
continue for some more time. The high of |
October 6isa minor swing, which is also |
resistance point, Above this the 50
DMA of 17,491 is the next level of |
resistance. A decisive lose above this
Interestingly, on Friday, the index opened
above the 20 DMA but failed to sustain
above the important moving average. It
‘opened with an over 300-pcint positive
‘gap before closing with gain of I per cent,
but it declined over 150 points from the
day's high. Atthe beginning ofthe current
week, the Nifly opened flat to negative
bbut closed above the key moving averages
‘on apositive note. Thiskind of volatility
has triggered stop losses on both the sides,
‘On the other side, the gap openings have
hit the positional traders quite hard
‘Technically there is no change in the
direction.
‘Themarket isstillin a tate of consolida-
14
zone: crucial for turning ona bullish |
bias. At the same time, there are no |
positive divergences established yet in any
of theleading indicators. |
‘The Anchored VWAP acted asa support |
for the week. The Relative Strength Index |
continues o be at 50 and in a neuteal
zone.'The MACD line isbelow the zero |
line. The negative directional indicator,
DMB is currently dominating, and the
ADXis almost lat for now. In thenear to
medium term the 200 DMA of 16988 and
the 200 EMA of 16,908 vill proveto bea |
