Author: Sovrenn Financial Technologies Pvt. Ltd.

29th May 2024

Aditya Joshi, Co-founder and CEO

Akriti Swaroop, Co-founder and COO

SOVRENN TIMES

DISCLAIMER: This document is created for educational and informational purposes only and should NOT
be construed as a Buy/Sell recommendation, investment advice or a research report. Although the
document accurately reflects the personal views of the authors, there may be manual/ human errors in the
document. The authors may also have equity shares in the companies mentioned in this report. Investor is
advised to consult his/her investment advisor and undertake further due diligence before making any
investment decision in the companies mentioned. Authors are not liable for any financial gains or losses due
to investments made as per the information written in this document.
 29th May 2024
IMPORTANT: How to use Sovrenn Times

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SOVRENN FRAMEWORK

Please look at the following parameters to assess any company for investment:

(1) Company type: Evergreen or Seasonal sector is preferable over Cyclical. This is because it is difficult
to predict upswing in Cyclical stocks.

(2) Profit uptrend: The revenue, operating profit and net profit should ideally be following an increasing
trajectory and company must not be loss making.

(3) PE: TTM PE or Trailing 12m Price to Earnings ratio should ideally be on the lower side of the sector
PE range, unless the growth prospects are compelling to justify a higher PE.

(4) Futuristic Sector: A futuristic sector (eg: Solar, Wind EV, Railways, Defence, 5G, Electrification, New
Age IT, etc.) enjoys sector tailwinds and usually has higher growth potential.

(5) HNI / Institutional / Promoter Buying: If a known HNI enters the Company by picking equity stake in
it, it can add to one’s conviction building. Similarly, promoters buying their company’s shares is
generally a positive signal of them demonstrating confidence in their business.

(6) Special Situation: If a company is raising funds through preferential issuance of shares to a select
group of investors, or through Rights issuance where all the current shareholders have the right to
buy additional shares in the company, it signals incoming cash into the company. This cash is
generally used for future growth and hence signals increased possibility of higher future profits.

(7) Future Information: If we have information about future growth drivers of a company, it can help build
conviction before making investment decisions. Examples of such events include: (a) capacity
expansion which indicates future increase in sales, (b) new product launches, (c) large orders, (d)
partnerships and agreements, (e) acquisitions, etc.

This page is created for information purpose. It is not a BUY/SELL recommendation. 2

Please do your own due diligence before making any investment decisions.
 29th May 2024
Sovrenn Times Summary

1. NIBE LIMITED
Filing: (EXCELLENT RESULTS) For the quarter ending Mar-24 for NIBE, Sales up 2.4x YoY from INR
63 Cr in Mar-23 to INR 152 Cr in Mar-24. Similarly, Net Profit up from loss of INR 0.6 Cr to profit of INR
10.4 Cr. On a QoQ basis, Sales up 2.4x and Net Profit up 2.4x.
MCap: INR 2,173 Cr PE: 117x
Number of LinkedIn Employees: 106 Members
GSTR3B: Last Filed Apr ‘24.
Clients: L&T.
Partners: ArcelorMittal Nippon Steel India Limited, JSW Steel Limited, Goa Shipyard, Hindustan
Shipyard Limited.

2. GENSOL ENGINEERING LIMITED

Filing: (EXCELLENT RESULTS) For the quarter ending Mar-24 for Gensol Engineering, Sales up 2.4x
YoY from INR 164 Cr in Mar-23 to INR 399 Cr in Mar-24. Similarly, Net Profit up 2.9x from INR 7 Cr to
INR 20 Cr. On a QoQ basis, Sales up 81% and Net Profit up 67%.
MCap: 3,785 Cr PE: 70.8x
Number of LinkedIn Employees: 132 Members
GSTR3B: Last Filed Apr ‘24.
Clients: Trident Limited, Maharashtra State Power Generation Co. Ltd., Blu Smart, State Govt. of
Gujarat etc.

3. J KUMAR INFRAPOJECTS LIMITED

Filing: (GOOD TO EXCELLENT RESULTS) For the quarter ending Mar-24 for J Kumar Infraprojects,
Sales up 26% YoY from INR 1134 Cr in Mar-23 to INR 1425 Cr in Mar-24. Similarly, Net Profit up 38%
from INR 74 Cr to INR 102 Cr. On a QoQ basis, Sales up 17% and Net Profit up 23%.
MCap: 4,992 Cr PE: 15.1x
Number of LinkedIn Employees: 1,921 Members
GSTR3B: Last Filed Apr ‘24.
Clients: DMRC, L&T, etc.

4. KRISHCA STRAPPING SOLUTIONS LIMITED

Filing: (GOOD TO EXCELLENT RESULTS) For the half year ending Mar-24 for Krishca Strapping
Solutions, Sales up 19% HoH from INR 48 Cr in Sep-23 to INR 57 Cr in Mar-24. Similarly, Net Profit up
33% from INR 5.7 Cr to INR 7.6 Cr
MCap: 263 Cr PE: 19.9x
Number of LinkedIn Employees: 21 Members
GSTR3B: Last Filed Apr ‘24.
Clients: JSW Steel, SAIL, etc.

5. MEGATHERM INDUCTION LIMITED

Filing: (GOOD TO EXCELLENT RESULTS) For the quarter ending Mar-24 for J Kumar Infraprojects,
Sales up 26% YoY from INR 1134 Cr in Mar-23 to INR 1425 Cr in Mar-24. Similarly, Net Profit up 38%
from INR 74 Cr to INR 102 Cr. On a QoQ basis, Sales up 17% and Net Profit up 23%.
MCap: 676 Cr PE: 32.6x
Number of LinkedIn Employees: 112 Members
GSTR3B: Last Filed Apr ‘24.
Clients: BHEL, Indian Railways, Tata Motors, etc.

This page is created for information purpose. It is not a BUY/SELL recommendation. 3

Please do your own due diligence before making any investment decisions.
 29th May 2024
1. NIBE LIMITED NSE: 535136 (1st time covered: 30th Jan 2023)
Recent filing: (EXCELLENT RESULTS) For the quarter ending Mar-24 for NIBE, Sales up 2.4x YoY from
INR 63 Cr in Mar-23 to INR 152 Cr in Mar-24. Similarly, Net Profit up from loss of INR 0.6 Cr to profit of INR
10.4 Cr. On a QoQ basis, Sales up 2.4x and Net Profit up 2.4x.

SUMMARY: 2y Operating Profit uptrend | 3q Operating Profit uptrend | Excellent Mar-24 results | PE 117x
(Sector PE range 50-100) | Fund raise | Institutional entry | Partnerships | Acquisitions | Large Order | Defence

• MCap of INR 2,173 Crore (share price = INR 1,654 / share) (as on 29th May ‘24)
• TTM PE of 117x (as on 29th May ‘24) Retail float = 21.8% (Mar-24)

FOOD FOR THOUGHT: PE is above sector range.

Company Description: NIBE is into three major businesses. E-vehicles: Designing, developing,
manufacturing and trading of e-vehicles. Defense: Wide spectrum of critical components catering to the
defense industry. IT: Networking solutions, network security, data security, endpoint security.

Share price and Volume (last 1 year):

Price May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24
Nibe 381 373 463 462 515 520 696 630 912 1,529 1,288 1,493

(In INR Cr) Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
Sales 10.3 17.2 15.2 62.3 25.8 41.2 62.7 152
Op Profit 0.6 3.7 2.8 4.7 3.2 5.8 6.9 19
Net Profit 0.2 1.1 0.9 2.4 0.8 2.8 4.4 10
OPM 6% 22% 18% 8% 12% 14% 11% 13%
NPM 2% 6% 6% 4% 3% 7% 7% 7%
Promoter % 62.9% 62.9% 62.9% 55.3% 55.3% 55.3% 50.0% 50.0%

(In INR Cr) Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
Sales 4.6 1.9 1.4 2.5 21.2 105 282
Op Profit -0.03 -0.3 -0.2 0.1 -0.5 12 36
Net Profit 0.1 0.0 -0.5 0.1 0.2 5 19
Website: [Link]

This page is created for information purpose. It is not a BUY/SELL recommendation. 4

Please do your own due diligence before making any investment decisions.
 29th May 2024
Company Type Evergreen
LT OP uptrend Yes
ST OP uptrend Yes
PE 117 (Defence: 50-100)
Above sector range
Yes
Futuristic Sector
(Defence)
Mar ’24: Aegis Investment Fund increased its stake from 6.7% in Dec ’23
to 7.8% in Mar ’24.

Dec ‘23 shareholding shows the entry of Aegis Investment Fund with 6.7%
stake. In Jan ’24, it further bought 1.4L shares at INR 675/share,
HNI / Institutional aggregating to INR 9.5 Cr.
/ Promoter Yes
In Jul ’23, Societe Generale bought 1.75L shares at INR 390/share,
Buying aggregating to INR 6.8 Cr. In Jan ’24, It sold 66k at INR 675, aggregating
to INR 4.4 Cr.

Sep ‘22: Promoter buying – 12.6k shares bought at INR 392/share,

aggregating to INR 49L

Sep ‘23: BoD approved raising of INR 90 Cr of funds via issuance of 14.8L
shares to non-promoters and 2.9L warrants to promoters at INR 510 each
Special Situation Yes
Jan ‘23: BoD approved fund raise up to INR 104 Cr through equity (INR
62 Cr) and convertible warrants (INR 42 Cr) at INR 365/share.

May 2024: Company has entered into a Business Agreement with Thales
USA, for designer, manufacturer, installer and supplier of MM- 7000
TACAN equipment and other services to Indian Navy.

May 2024: Company has entered into a Licensing Agreement with

Vehicles Research & Development Establishment (VRDE), Ahmednagar,
Defence Research & Development Organisation (DRDO), Ministry of
Defence, Government of India for Transfer of Technology to manufacture
and sell Anti-Terrorist Vehicle (ATV) in India to Indian Armed Forces/Other
Govt. Agencies (Central and State).

Future Visibility Yes Apr 2024: Company has received Purchase Order worth INR 308 Cr from
Ordefence Systems Limited for assemblies, sub-assemblies and supply
of 12 kits of small arms, to be executed before 31st Mar 2027.

Mar 2024: Received Purchase Order worth INR 21.8 Cr from Larsen and
Toubro, for assemblies and sub-assemblies of Heavy Structures including
construction gabion walls, to be executed over next 4m.

Feb 2024: Entered a Licensing Agreement with Director, Vehicles

Research and Development Establishment, Ahmednagar, a constituent
laboratory under Defence Research and Development Organization,
Ministry of Defence, Government of India, and Director, Industry Interface
and Technology Management for transfer of technology of Expandable

This page is created for information purpose. It is not a BUY/SELL recommendation. 5

Please do your own due diligence before making any investment decisions.
 29th May 2024
Mobile Shelters & Solar Heated Shelters which has been developed by
DRDO during the course of its research activities.

Feb 2024: Company has executed ‘Exclusive Manufacturing Agreement’

with Munition India Limited (MIL) to manufacture and supply hardware to
MIL for export of ammunitions in product range of MIL. The two parties
will work together for export of such ammunitions for a period of 10y.

Feb 2024: Company has inaugurated its new production facility at its plant
in Pune. This new plant which houses state of art technology and
infrastructure will be used to produce a wide array of equipment covering
diverse metallurgy in the field of land, aerospace and maritime
applications, including bridges, shelters, armoured vehicles, artillery
ammunition, small arms and engineering systems and subsystems.

Jan 2024: Hindustan Aeronautics’s Aircraft Manufacturing Division has

recently designated the company for outsourcing various critical activities.
These include CNC turning of small and medium-sized aero components,
CNC milling of larger parts, and the provision of Ground Handling
Equipment (GHE) and Ground Support Equipment (GSE).

Jan 2024: Company has acted on the Share Purchase Agreement (SPA)
dated November 01, 2023 and acquired 60,000 equity shares of Anshuni
Commercials Limited, representing 5% stake in the Company.

Jan ’24: Inaugurating its 2nd VMC Machine at its manufacturing facility,
the Company commenced the commercial production of its state-of-the-
art and first in India 16 Mtr. VMC Machine of make Zayer, Spain equipped
with the latest Siemens control system, ensuring unparalleled precision
and efficiency, equipped with universal head 1x360 deg accuracy, position
accuracy and repeatability within 7 microns. This machine is capable of
machining critical large size components like missile launcher, sub
frames, launching platforms in Defence, Space and Aerospace
Applications.

Jan ‘24: A subsidiary in the name of Nibe Meson Naval Ltd. has been
incorporated, wherein Nibe holds 51% stake. Subsidiary is in the Business
of Assembling, Buying, selling, distributing, importing, or otherwise
dealing in Turnkey Projects for Piping systems including fabricated pipes,
Valves, pumps, fitting, gaskets, gauges, and commissioning of piping
systems.

Jan ‘24: Company has signed an MoU with Munitions India Ltd. to develop
new generation ammunition, upgrade the conventional ammunition and
explore export opportunities for such products.

Nov ’23: Commenced commercial productions at its State-of-the-art VMC

Machine, capable of machining of critical large size components like
missile launcher, sub frames and launching platforms

Nov 2023: Company has signed definitive agreement to acquire 5% stake

in Anshuni Commercials at a total cash consideration of INR 10L.

Sep ‘23: Entered into a collaborative agreement with Hewlett Packard

Enterprise India Pvt. Ltd. for HPE Green Lag Cloud Services

This page is created for information purpose. It is not a BUY/SELL recommendation. 6

Please do your own due diligence before making any investment decisions.
 29th May 2024
Aug ‘23: Company has signed definitive agreement to acquire 51% stake
in Karmayogi Manufacturing Pvt. Ltd.

May ‘23: 7 purchase orders from L&T for manufacturing of Bridge Centre
Module structure amounting to INR 16.8 Cr

Mar ‘23: Purchase orders from L&T: manufacturing of bridge center

module structure worth INR 57 Cr.

Mar ‘23: Acquired the remaining 50% stake in Indigenous Casting

Technoloy Pvt. Ltd., making it its wholly owned subsidiary. Indigenous
Casting has land admeasuring 7 Acres with factory shade in Pune, allotted
by Maharashtra Industrial Development Corporation (MIDC).

Mar ‘23: 4 purchase orders from L&T of worth INR 40 Cr

Feb ‘23: Purchase orders from Dymac Global for manufacturing of Fuel
storage tanks for export to Dymac USA and Dymac Canada for a total
consideration of US $373k (INR 3.1 Crore). Orders to be completed before
Apr 2023.

Jan ‘23: Inaugurated new plant in Pune, bagged an order of worth INR
19.8 Cr from L&T

LT OP = Long-term operating profit; ST OP = Short-term operating profit

This page is created for information purpose. It is not a BUY/SELL recommendation. 7

Please do your own due diligence before making any investment decisions.
 29th May 2024
2. GENSOL ENGINEERING LIMITED NSE: GENSOL
(1st time covered: 17th Feb 2023)

Recent filing: (EXCELLENT RESULTS) For the quarter ending Mar-24 for Gensol Engineering, Sales up
2.4x YoY from INR 164 Cr in Mar-23 to INR 399 Cr in Mar-24. Similarly, Net Profit up 2.9x from INR 7 Cr to
INR 20 Cr. On a QoQ basis, Sales up 81% and Net Profit up 67%.

SUMMARY: 4y Operating Profit uptrend | 5q Operating Profit uptrend | PE 70.8x (Sector PE range 30-90) |
Excellent Mar-24 results | Orderbook INR 1,783 Cr as of Mar 2024 (1.9x of Mar-24 Revenue) | Fund raise |
Institutional entry | Large Orders | Ace Investor | Acquisitions | Promoter Buying | Solar + EV

• MCap of INR 3,785 Crore (share price = INR 999 / share) (as on 29th May ‘24)
• TTM PE of 70.8x (as on 29th May ‘24) Retail float = 19.2% (Mar-24)

FOOD FOR THOUGHT: Leveraged capital structure attributed to debt funded acquisition of EVs for leasing
to Blu-Smart

Company Description: Gensol is involved in the business of solar consulting & EPC. It provides concept to
commissioning solar advisory, execution and operation services for solar projects in India and abroad.
Expanding its operations, Gensol has also established an EV manufacturing facility in Pune, India, for the
development and production of electric three wheelers and four wheelers. Alongside, Gensol offers
comprehensive EV leasing solutions and is serving leading ride-hailing players with its buy-and-lease
package of EV cars.

Share price and Volume (last 1 year):

Price May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24
Gensol 373 450 554 611 672 867 771 843 865 1,174 880 917

(In INR Cr) Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
Sales 102 81 51 164 145 199 220 399
Op Profit 15 17 15 29 37 49 63 79
Net Profit 10 8 -2 7 10 11 12 20
OPM 15% 21% 30% 18% 25% 25% 29% 20%
NPM 10% 10% - 4% 7% 6% 6% 5%
Promoter % 71.3% 71.4% 64.7% 64.7% 64.7% 64.7% 62.6% 62.6%

(In INR Cr) Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
Sales 69 83 81 64 160 398 963
Op Profit 7 9 4 6 19 58 228
Net Profit 5 7 2 3 11 23 53
Website: [Link]
This page is created for information purpose. It is not a BUY/SELL recommendation. 8
Please do your own due diligence before making any investment decisions.
 29th May 2024
Company Type Evergreen
LT OP uptrend Yes
ST OP uptrend Yes
PE 70.8 (Solar + EV: 30-90)
Higher end of sector range
Yes
Futuristic Sector Solar EPC
(Solar + EV)
Mar ’24: Promoter Group bought 11k shares at INR 795, aggregating
to INR 88L.
Sep ‘23: Shareholding pattern showed entry of Mukul Mahavir
Agrawal holding 1.64% of the Company.

HNI / Institutional Jul ‘23: Block Deal happened in the Company on 25th July ‘23 at
9:36am, wherein 2L shares were traded at the price of around INR
/ Promoter Yes 1,416/share, aggregating to INR 28.3 Cr, wherein the seller was
Buying Wellray Solar Industries Pvt. Ltd. There seems to be multiple buyers
at less than 0.5% each of outstanding shares bought, as no buy bulk
deals were reported.
Jul ‘23: Block Deal happened in the Company on 24th July ‘23 at
2:48PM, wherein 60k shares were bought at the price of INR
1,386/share, aggregating to INR 8.3 Cr.

Feb ‘24: BoD approved raising of INR 900 Cr of equity via issuance
of 1 Cr warrants of the Company. The fundraise saw participation from
distinguished domestic and international participants including FPIs
like Elara India Opportunity Fund, Aries Opportunities Fund, Tano
Special Situation Yes Investment Opportunities Fund, etc. This capital strengthens Gensol’s
financial position, facilitating new opportunities with funds being
deployed for working capital, inorganic growth opportunities and
further investment in subsidiaries.

Gensol Engineering’s orderbook at the start of FY25 stands at INR

1,783 Cr, to be executed over the next 12 months. 80% of this
orderbook is for the Solar EPC business, while 20% is for the EV
leasing business. Company had earlier released its FY24 revenue
number at INR 960 Cr (141% YoY growth).

Apr ‘24: In FY24, Company's revenue jumped to INR 960 Cr from INR
398 Cr in FY23, marking a remarkable 141% growth on a YoY basis.
This would imply Mar-24 quarter revenue at INR 396 Cr, a YoY jump
Future Visibility Yes of 141% and a QoQ jump of 80%.

Apr ‘24: Company’s subsidiary named Scorpius Trackers, (subsidiary

of Gensol Engineering Ltd.), has reached a significant milestone of
1000 MW + contracted orders globally.

Mar ‘24: Company has secured the largest-ever turnkey EPC order in
size and value worth INR 520 Cr from a leading power generation
utility in the state of Maharashtra. The project involves the
development of a 100 MWAC/135 MWp ground-mount solar PV
power project across 500 acres in Maharashtra.

This page is created for information purpose. It is not a BUY/SELL recommendation. 9

Please do your own due diligence before making any investment decisions.
 29th May 2024
Mar ‘24: Company announced the completion of a 10.6 MWp single
Rooftop Solar project for Trident Limited at its Budhni plant in Madhya
Pradesh.

Mar ‘24: Company has completed 160 MW ground-mounted solar

project for Continuum Green Energy in Bhavnagar, Gujarat, valued at
INR 128 Cr. This project will contribute significantly to company’s
increasing solar EPC project portfolio.

Mar ‘24: Company has incorporated a wholly owned subsidiary by the

name of Gensol Clean Energy Private Limited. Through this
subsidiary, the Company wants to carry out business of generation,
development, accumulation, production, manufacturing, processing
and distributing of any kind of power or electrical energy using wind
energy, solar energy, renewable energy, battery storage etc.

Mar ‘24: Company emerged as the lowest bidder for a partial capacity
of 70 MW/140MWh for a 250 MW/500 MWh Battery Energy Storage
System (BESS) tender floated by Gujarat Urja Vikas Nigam Limited
(GUVNL) in Gujarat on-demand basis. The project will contribute INR
450 Crore to Gensol’s revenue over the period of contract.

Feb ’24: Company’s Subsidiary named Gensol Electric Vehicles Pvt.

Ltd received Automotive Research Association of India (ARAI)
Certification for its electric vehicle. This paves the way for the electric
vehicle’s official launch and sale in the Indian market.

Feb ‘24: Company has secured orders aggregating to INR 338 Cr

from two prominent Independent Power Producers (IPPs), recognized
as global leaders in renewable power production with a commitment
to providing environmentally friendly and dependable solutions. The
initial order pertains to a 250 MWac/350 MWdc ISTS solar power
project situated in Rajasthan. Furthermore, an additional project
involves a 50MWac/72.5 MWdc solar power initiative in Maharashtra.

Feb ‘24: Company, along with Matrix Gas and Renewables, has won
a bid for manufacturing capacity for an advanced Electrolyser Plant
under the auspices of the Sustainable Hydrogen Innovation & Green
Hydrogen Technologies (SIGHT) program. The awarded project, with
a manufacturing capacity of 63 MW per annum, is strategically
positioned to contribute significantly to India’s ambitious goal of
producing 5 million metric tons of green hydrogen annually by 2030.

Jan ‘24: Wholly owned subsidiary has been incorporated by the name
of Gensol Green Energy Pvt. Ltd. to carry business of generation,
development, accumulation, production, manufacturing, processing
and distributing of any kind of power or electrical energy using wind
energy, solar energy, renewable energy, battery storage etc.

Jan ’24: Executed MoU with the State Government of Gujarat for an
investment of INR 2,000 Cr for Electric Vehicle Manufacturing. It will
generate around 1,500 jobs in the region.

Jan ‘24: Company has received order worth INR 138.7 Cr from Sarda
Energy and Minerals Ltd. for Solar Power Project in Chhattisgarh.

This page is created for information purpose. It is not a BUY/SELL recommendation. 10

Please do your own due diligence before making any investment decisions.
 29th May 2024
Dec ‘23: BoD approved the raising of INR 300 Cr of funds via
issuance of equity shares or any other eligible securities.

Dec ‘23: In an interview with NDTV Profit, Chairperson Anmol Jaggi

said he expects Company’s revenue to increase 10 folds from INR
393 Cr in FY23 to INR 4,000 Cr by FY26, with all businesses
contributing to growth.

Dec ‘23: Mr. Anmol Jaggi, Founder of Gensol Engineering, shared

the first look of Made in India and 'ready for universal adoption - an
intelligent, electric urban car by Gensol Group' on his Twitter handle.
The launch will most likely happen in March 2024 as per his Tweet.

Oct ‘23: Company has emerged as the lowest bidder for the
Engineering, Procurement, and Commissioning of a trailblazing
Green Hydrogen-based mobility station in Kargil, Ladakh. Gensol is
set to develop a 500-kW grid-connected, ground-mounted solar
power project that will provide energy to the hydrogen refueling
station. Matrix (under common promoters), India’s most rapidly
expanding natural gas aggregator and hydrogen infrastructure
developer, will oversee the Engineering, Procurement, and
Commissioning of dual electrolysers, each with a capacity of 30 NM3.
The scope of work includes the entire balance of plant EPC
encompassing the green hydrogen system installation, storage, and
dispensing facilities, in addition to the requisite civil and electrical
infrastructure for the integrated solar and hydrogen operation in
Ladakh. This pioneering project, unprecedented in India, spans the
complete green hydrogen supply chain. Gensol pledges to execute
the project for NHPC, ensuring a minimum green hydrogen purity of
99.97%, with the project slated for completion within 12 months from
the issuance of the work order.

Oct ‘23: Received order worth INR 302 Cr from Maharashtra State
Power Generation Co. Ltd., expected to be completed within 12m and
involves conceptualization, engineering, provisioning, installation,
testing, and commissioning of a state-of-the-art 62 MWAC Crystalline
Solar PV Technology Grid Interactive Solar PV Power Plant.

Sep ‘23: Gensol EV Lease Pvt. Ltd., subsidiary of Gensol Engineering

Limited, an EV-focused leasing solutions provider, announced a
significant milestone with an order for more than 500+ Tata Ace Cargo
EVs. This substantial order, valued at INR 75 Cr is from an all-electric
logistics company. An Initial batch of 20+ EVs have already been
leased, with the remaining cars to be deployed over the next 6 months
across 5 states in India – Maharashtra, Karnataka, West Bengal,
Tamil Nadu and Telangana. In addition, Company is working with
customers in the PSU, last mile delivery and employee transportation
business with a leasing requirement of 100+ electric vehicles.

Aug ‘23: Announced maiden two turnkey international Solar EPC

projects in Dubai with Dubai Government Workshop Warehouse (to
commission in Nov ‘23) and Dubai Police (to commission in Jun ‘24).
Aggregating to a capacity of 14.08 MWp, these projects have a
cumulative order value of INR 101.6 Crores. With this, the Company
also ventures into international markets.

This page is created for information purpose. It is not a BUY/SELL recommendation. 11

Please do your own due diligence before making any investment decisions.
 29th May 2024
Aug ‘23: Gensol EV lease (subsidiary) secures a deal for providing
300 Electric Cars to Odisha Renewable Energy Development Agency
on a 5-year Operational Lease with a total value of INR 115 Cr.

Jul ‘23: In 1QFY24, received orders from reputed clients for the
development of solar power projects in Andhra Pradesh,
Chhattisgarh, Gujarat, Jharkhand, Kerala, Madhya Pradesh,
Maharashtra, Rajasthan and Uttar Pradesh. The cumulative order
value of these projects is worth INR 277 Cr.

Mar ‘23: Gensol has fully acquired Scorpius Trackers Ltd., one of
India’s largest providers of single-axis solar trackers solutions.
Company expects that with this acquisition, the combined revenue
of Gensol Solar Division would reach INR 2,300 Crore by FY24.

Feb ‘23: Received purchase orders from reputed clients for the
development of solar power projects aggregating to a capacity of
over 247 MWp in Andhra Pradesh, Haryana, Gujarat, Jharkhand,
Kerela, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu,
Uttarakhand and West Bengal. Cumulative order value is pegged at
over INR 500 Cr, taking the total order book over INR 1,025 Cr.
LT OP = Long-term operating profit; ST OP = Short-term operating profit

This page is created for information purpose. It is not a BUY/SELL recommendation. 12

Please do your own due diligence before making any investment decisions.
 29th May 2024
3. J KUMAR INFRAPROJECTS LIMITED NSE: JKIL
(1st time covered: 23rd Sep 2023)

Recent filing: (GOOD TO EXCELLENT RESULTS) For the quarter ending Mar-24 for J Kumar Infraprojects,
Sales up 26% YoY from INR 1134 Cr in Mar-23 to INR 1425 Cr in Mar-24. Similarly, Net Profit up 38% from
INR 74 Cr to INR 102 Cr. On a QoQ basis, Sales up 17% and Net Profit up 23%.

SUMMARY: 3y Operating Profit uptrend | 7q Operating Profit uptrend | PE 15.1x (Sector PE range 8-25) |
Excellent Mar-24 results | Healthy orderbook of INR 21,011 Cr as of Mar’24, 4.3x of Mar ‘24 Revenue | Ace
Investor | Fund entry | Railways Infra

• MCap of INR 4,992 Crore (share price = INR 660 / share) (as on 29th May ‘24)
• TTM PE 15.1x (as on 29th May ‘24) Retail float = 10.2% (Mar-24)

FOOD FOR THOUGHT: Highly competitive sector

Company Description: JKumar Infraprojects is engaged in the business of constructing Flyovers, Bridges
& Roads, Skywalks, Urban infra, Dams & Canals, Underground Metro and Railways. Its executed projects
include Mumbai Metro line 7 and 2A, Delhi Underground Metro, Ahmedabad metro, Grant Road Skywalk etc.

Share price and Volume (last 1 year):

Price May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24
JKIL 257 301 361 411 432 403 429 577 642 646 631 676

(In INR Cr) Jun-22 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24
Sales 994 1,013 1,062 1,134 1,131 1,104 1,219 1,425
Op Profit 140 146 152 159 162 160 179 203
Net Profit 62 68 71 74 73 73 83 102
OPM 14% 14% 14% 14% 14% 14% 15% 14%
NPM 6% 7% 7% 7% 6% 7% 7% 7%
Promoter % 46.7% 46.6% 46.6% 46.6% 46.6% 46.6% 46.6% 46.6%

(In INR Cr) Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
Sales 2,051 2,787 2,971 2,571 3,527 4,203 4,879
Op Profit 321 436 429 311 505 597 704
Net Profit 137 177 184 64 206 274 331
Website: [Link]

This page is created for information purpose. It is not a BUY/SELL recommendation. 13

Please do your own due diligence before making any investment decisions.
 29th May 2024
Company Type Evergreen
LT OP uptrend Yes
ST OP uptrend Yes
PE 15.1 (Infra: 8-25)
Middle of sector range
Yes
Futuristic Sector
(Railways)
Dec ‘23 shareholding shows the entry of Dolly Khanna with
HNI / Institutional a stake of 1.0%.
/ Promoter Yes
Dec ‘23: Gaganbase Vincom Pvt. Ltd. sold 5L shares worth INR
Buying 22.8 Cr. At the same price, Abakkus Diversified Alpha Fund bought
10L shares worth INR 45.6 Cr.

Special Situation No

has been awarded a Letter of Acceptance valued at INR 334 Cr as

the sole bidder by NBCC (India) Limited. This LoA pertains to the
project “Development of Hari Nagar Depot of Delhi Transport
Corporation (DTC) in Delhi at Hari Nagar, New Delhi on EPC
basis", to be executed over 2 years.

Mar ’24: Company has received order worth INR 912 Cr from
CIDCO Limited for the work of Design and Construction of Coastal
Road from CH 2900 to CH 5800 (MTHL Junction) at Ulwe, Navi
Mumbai.

Mar ’24: Company has received 2 orders worth (i) INR 1,330 Cr
from Brihanmumbai Municipal Corporation for the work of
“Proposed construction of Elevated Road Corridor from Eastern
Freeway (Orange Gate) to Grant Road Area”, over 42 months, and
(ii) INR 493 Cr from Navi Mumbai Municipal Corporation for the
Future Visibility Yes
work of “Construction of Creek Bridge Connecting Ghansoli- Airoli
along Palm Beach Road at Ghansoli, Navi Mumbai on EPC Mode,
over 30 months. Share of company is 70% in both the projects
aggregating to INR 1,276 Cr.

Feb ‘24: Company has received a contract worth INR 4,548 Cr

(50% share) or INR 2,274 Cr. The contract is for the work of
“Mumbai Costal Road North Project- Package B (Bangur Nagar to
Mindspace Malad Interchange (Chainage 4+540 to Chainage
6+200) and GMLR Connector (Elevated Road) (Chainage 0+000
to Chainage 4+460). Project needs to be completed in 48 months.

Feb ‘24: Company has received a contract worth INR 2,556 Cr

(50% share), or INR 1,278 Cr. The contract is for the work of
“Mumbai Coastal Road North Project (Bangur Nagar to Mindspace
Malad Interchange and GMLR Connector - Elevated Road).
Project needs to be completed in 48 months.

This page is created for information purpose. It is not a BUY/SELL recommendation. 14

Please do your own due diligence before making any investment decisions.
 29th May 2024

Dec ‘23: Company is in receipt of Letter of Acceptance worth INR

583 Cr, over 24 months, for the project: Construction of 4 Lane
Elevated Corridor in Grand Southern Trunk Road on EPC Mode
from The Superintending Engineer, Highway Department,
Construction and Maintenance, Chennai.

Dec ‘23: Company is in receipt of Letter of Acceptance worth INR

379 Cr for the Design and Construction of Flyover from Link Road,
Andheri (West) to Poonam Nagar (JVLR) from Mumbai
Metropolitan Region Development Authority (MMRDA).

Oct ‘23: Company received order worth INR 509 Cr for Provn of
Tech Accn and Allied Infra for Command Hospital, Lucknow on
EPC mode. Company earlier also received order worth INR 99.3
Cr, to be executed over 56 weeks, from Mumbai Metropolitan
Regional Development Authority (MMRDA) for the Design, Supply,
Fabrication and Erection of pre-engineering steel works and
execution of internal & external architectural finishings, plumbing
works including interior fitouts for 5 elevated stations.

Sep ‘23: J. Kumar - NCC JV (49% share of J Kumar) received LoA

worth INR 3,088 Cr for design, construction and operation of twin
tunnel from Film City Goregaon to Khindipada Mulund including
Box Tunnel at Film City, Electrical, Mechanical and associated
works from Brihanmumbai Municipal Corporation (BMC). This
takes the total order book of the Company close to 15,864 Cr.

Aug ‘23: Company received 4 LoAs from NHAI out of which 2 are
received in the name of the Company (sole bidder) and 2 LoAs are
received in the name of J Kumar – Azvirt (Joint Venture), where
share of the Company is 90%, total amounting to INR 3,401 Cr.

Mar ‘23: Company received LOA from Brihanmumbai Municipal

Corporation in the name of J Kumar – MEPL (Joint Venture), where
Company’s share is 60% which comes to INR 309 Cr, for the work:
Design, Build and Commissioning of Priority Sewer Tunnels.

Mar ‘23: Company received LoA from Bangalore Metro Rail

Corporation Limited for a total contract cost of INR 249 Cr, in the
name of J Kumar-AICPL (Joint Venture) where the share of the
Company is 55%, that is INR 137 Cr.

Mar ‘23: Company received LoA from Bangalore Metro Rail

Corporation Ltd for the construction of Airport Depot for Metro Rail
Project – Phase 2B in the name of j Kumar – AICPL (Joint Venture),
where Company’s share is 55%, that is INR 100 Cr.

LT OP = Long-term operating profit; ST OP = Short-term operating profit

This page is created for information purpose. It is not a BUY/SELL recommendation. 15

Please do your own due diligence before making any investment decisions.
 29th May 2024
4. KRISHCA STRAPPING SOLUTIONS LIMITED
NSE: KRISHCA (SME: Lot Size = 500 shares) (1st time covered: 19th Jun 2023)

Recent filing: (GOOD TO EXCELLENT RESULTS) For the half year ending Mar-24 for Krishca Strapping
Solutions, Sales up 19% HoH from INR 48 Cr in Sep-23 to INR 57 Cr in Mar-24. Similarly, Net Profit up 33%
from INR 5.7 Cr to INR 7.6 Cr.

SUMMARY: 4y Operating Profit uptrend | PE 19.9x (Sector PE range 30-60) | Excellent Mar-24 results |
Capacity expansion | Ace Investor | Industrial Products

• MCap of INR 263 Crore (share price = INR 218 / share) (as on 29th May ‘24)
• TTM PE 19.9x (as on 29th May ‘24) Retail float = 20.5% (Mar-43)

FOOD FOR THOUGHT: Highly competitive sector

Company Description: Krishca Strapping Solutions is engaged in the business of manufacturing and
trading/ wholesale of Strapping Tools and Strapping Seals. Steel strapping is highly effective packaging
consumable for packing heavy loads, especially in the steel industry.

Share price and Volume (last 1 year):

Price May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24
Krishca 97 173 191 281 235 240 226 220 289 252 222 286

(In INR Cr) Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Sep-23* Mar-24*
Sales 1 9.4 18.6 72.3 105 48.5 57
Op Profit -1.5 0.6 3.1 13.8 20 8.4 12
Net Profit -2.2 -0.7 1.5 9.3 13 5.7 8
OPM -150% 6% 17% 19% 19% 17% 21%
NPM -220% -7% 8% 13% 12% 12% 14%
*Half-yearly results (Rest are annual)

Website: [Link]

This page is created for information purpose. It is not a BUY/SELL recommendation. 16

Please do your own due diligence before making any investment decisions.
 29th May 2024
Company Type Evergreen
LT OP uptrend Yes
ST OP uptrend Yes
PE 19.9
(Industrial Products: 30-60)
Below sector range
Steel Strapping tool
Futuristic Sector No
May ‘23: Selvamurthy Akilendaswari bought 70k shares at INR
HNI / Institutional
118/share, aggregating to INR 82.6L, of which 64k shares were
/ Promoter No sold in Jun ‘23. Raghav Karol Huf bought 1L shares at INR
Buying 119/share, aggregating to INR 1.2 Cr, which was sold in Jun ‘23.

Special Situation No

Apr ‘24: Company has secured a new packaging contract valued

at INR 1.8 Cr from Shyam Metalics and Energy Limited for TMT
Strapping.

Mar ’24: Company has secured a new packaging contract valued

at INR 20.2 Cr from Vedanta Limited. The order includes services
for Lashing, Choking, and Tarpaulin Coverage for Finished Goods,
Trucks and Containers. With a duration spanning 3 years, the
contract is scheduled to commence on April 1, 2024.

Nov ‘23: Company has got order worth INR 3.2 Cr from Steel
Authority of India Limited (SAIL) for palletization and supply of
packaging material.

Sep ‘23: BoD approved the proposal for forming a subsidiary in

Singapore as part of expansion of business.
Future Visibility Yes
Aug ‘23: BoD approved entering into a packaging contract worth
INR 2 Cr over 6 months and renewable thereafter. This will be the
first packaging contract entered by the Company.

Jul ‘23: BoD approved the incorporation of a subsidiary company

in Dubai, in which Krishca will be holding 90% stake. The
subsidiary will be engaged in Packing & Packaging Materials
trading including reselling freight packing and wrapping, industrial
packaging materials, including packs, boxes, panels, sheets, foils
and straps made of paper, plastic or metal materials or other
substances.

Jun ‘23: Revenue is expected to grow by 35-45% in FY24 due to

increased sales from current operation and also from new
strapping line which will come into operations from December
2023.

LT OP = Long-term operating profit; ST OP = Short-term operating profit

This page is created for information purpose. It is not a BUY/SELL recommendation. 17

Please do your own due diligence before making any investment decisions.
 29th May 2024
5. MEGATHERM INDUCTION LIMITED NSE – SM : MEGATHERM
(SME: Lot Size = 400 shares) (1st time covered: 26th Feb 2024)

Recent filing: (GOOD TO EXCELLENT RESULTS) For the half year ending Mar-24 for Megatherm
Induction, Sales up 18% YoY from INR 135 Cr in Mar-23 to INR 159 Cr in Mar-24. Similarly, Net Profit up
2.1x from INR 6.3 Cr to INR 13.1 Cr. On a HoH basis, Sales up 8% and Net Profit up 63%.

SUMMARY: 2y Operating Profit uptrend | PE 32.6x (Sector PE range 30-60) | Excellent Mar-24 results |
Capacity expansion | Ace Investor | IPO | Industrial Products

• MCap of INR 676 Crore (share price = INR 359 / share) (as on 29th May ‘24)
• TTM PE 32.6x (as on 29th May ‘24) Retail float = 15.2% (Mar-24)

FOOD FOR THOUGHT: Highly competitive sector.

Company Description: Megatherm Induction specializes in manufacturing induction heating and melting
products, including induction melting furnaces and induction heating equipment. Additionally, it produces
various plant and machinery for steel melt shops, such as transformers, ladle refining furnaces, continuous
casting machines, and fume extraction systems. The company also manufactures electric arc furnaces for
alloys and special steel making industries.

Share price and Volume (last 1 year):

Price May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24
Megat - - - - - - - - - 355 258 318

(In INR Cr) Mar-20 Mar-21 Mar-22 Mar-23 Mar-24 Mar-23* Sep-23* Mar-24*
Sales 132 109 188 266 306 135 147 159
Op Profit 16 13 9 28 36 13 14 22
Net Profit 6 3 1 14 21 6 8 13
OPM 12% 12% 5% 11% 12% 10% 10% 14%
NPM 5% 3% 1% 5% 7% 4% 5% 8%
Promoter holding as of Mar’24 is 72.7%
*half-year numbers, rest are annual

[Link]
This page is created for information purpose. It is not a BUY/SELL recommendation. 18
Please do your own due diligence before making any investment decisions.
 29th May 2024
Company Type Structural
LT OP uptrend Yes
ST OP uptrend Yes
PE 32.6 (Industrial Products: 30-60)
Lower end of sector range

Yes
Futuristic Sector
(Railways)

Mar ’24: Ashish Kacholia is holding 1.7% stake.

HNI / Institutional /
Yes Feb ’24: Ashish Kacholia bought 3.2L shares at INR 225,
Promoter Buying
aggregating to INR 7.1 Cr

Special Situation Yes IPO in Feb ‘24

May ’24: Company has provided revenue guidance of INR 500 Cr

in next 3 years.

Mar ’24: Current order book is approximately INR 290 Cr, with INR
64 crore in export orders and INR 226 Cr in domestic orders.
Additionally, there are orders worth INR 164 crore in the pipeline,
which are under discussion or negotiation. Company has also
received approval from the Ministry of Electronics and Information
Technology for a subsidy of INR 3.35 Cr.

Feb ’24: Company has pre-paid two term loans with Indian Bank,
Future Visibility Yes totaling INR 26 crore. One loan of INR 21 crore and another of INR
5 crore were paid from internal accruals. This pre-payment,
including a foreclosed loan of INR 6.04 crore, will reduce the
company’s interest burden.

Feb ’24: Company has received an order worth INR 24.5 Cr from
Rungta Mines Limited for supply, erection, and commissioning of
capital goods, to be completed over 6 months.

INR 14.9 Cr of IPO funds will be used towards capital expenditure

for construction of factory shed and installation of additional plant
and machinery

LT OP = Long-term operating profit; ST OP = Short-term operating profit

This page is created for information purpose. It is not a BUY/SELL recommendation. 19

Please do your own due diligence before making any investment decisions.
 29th May 2024
Others
E FACTOR EXPERIENCE LIMITED
(EXCELLENT RESULTS) For the half year ending Mar-24, Sales up 27% YoY from INR 100 Cr in Mar-23 to
INR 127 Cr in Mar-24. Similarly, Net Profit up 88% from INR 8 Cr to INR 15 Cr.
• MCap of INR 213 Cr (share price = INR 163/share); TTM PE 13.9x (as on 29th May ‘24)

ITD CEMENTATION LIMITED

(EXCELLENT RESULTS) For the quarter ending Mar-24, Sales up 38% YoY from INR 1,631 Cr in Mar-23 to
INR 2,258 Cr in Mar-24. Similarly, Net Profit up 137% from INR 38 Cr to INR 90 Cr. On a QoQ basis, Sales
up 12% and Net Profit up 14%.
• MCap of INR 6,747 Cr (share price = INR 393 /share); TTM PE 24.6x (as on 29th May ‘24)

CAPACIT’E INFRAPROJECTS LIMITED

(EXCELLENT RESULTS) For the quarter ending Mar-24, Sales up 34% YoY from INR 447 Cr in Mar-23 to
INR 599 Cr in Mar-24. Similarly, Net Profit up 136% from INR 22 Cr to INR 52 Cr. On a QoQ basis, Sales up
25% and Net Profit up 73%.
• MCap of INR 2,589 Cr (share price = INR 306/share); TTM PE 21.6x (as on 29th May ‘24)

CONCORD CONTROL LIMITED

(EXCELLENT RESULTS) For the half year ending Mar-24, Sales up 52% YoY from INR 23 Cr in Mar-23 to
INR 35 Cr in Mar-24. Similarly, Net Profit up 2.3x from INR 3 Cr to INR 7 Cr. On a HoH basis, Sales up 17%
and Net Profit up 17%.
• MCap of INR 436 Cr (share price = INR 729/share); TTM PE 34x (as on 29th May ‘24)

VIRTUOSO OPTOELECTRONICS LIMITED

(EXCELLENT RESULTS) For the half year ending Mar-24, Sales up 30% YoY from INR 225 Cr in Mar-23 to
INR 293 Cr in Mar-24. Similarly, Net Profit up 2.4x from INR 2.7 Cr to INR 6.6 Cr. On a HoH basis, Sales up
23% and Net Profit up 75%.
• MCap of INR 543 Cr (share price = INR 238/share); TTM PE 53.6x (as on 29th May ‘24)

SOLEX ENERGY LIMITED

(EXCELLENT RESULTS) For the half year ending Mar-24, Sales up 94% YoY from INR 141 Cr in Mar-23 to
INR 273 Cr in Mar-24. Similarly, Net Profit up 2.7x from INR 3 Cr to INR 8 Cr. On a HoH basis, Sales up 2.9x
and Net Profit up 8x.
• MCap of INR 1,237 Cr (share price = INR 1,546 /share); TTM PE 142x (as on 29th May ‘24)

EMS LIMITED
(GOOD TO EXCELLENT RESULTS) For the quarter ending Mar-24, Sales up 29% YoY from INR 190 Cr in
Mar-23 to INR 245 Cr in Mar-24. Similarly, Net Profit up 31% from INR 36 Cr to INR 47 Cr. On a QoQ basis,
Sales up 23% and Net Profit up 27%.
• MCap of INR 2,702 Cr (share price = INR 487 /share); TTM PE 17.7x (as on 29th May ‘24)

SRIVARI SPICES LIMITED

(GOOD TO EXCELLENT RESULTS) Sales up 2.2x from INR 35.8 Cr in FY23 to INR 78.3 Cr in FY24.
Similarly, Net Profit up 2.3x from INR 3.1 Cr to INR 7 Cr.
• MCap of INR 223 Cr (share price = INR 312 /share); TTM PE 31.7x (as on 29th May ‘24)

URBAN ENVIRO WASTE MANAGEMENT LIMITED

(GOOD RESULTS) For the half year ending Mar-24, Sales up 2.3x YoY from INR 24 Cr in Mar-23 to INR 56
Cr in Mar-24. Similarly, Net Profit up 62% from INR 1.85 Cr to INR 3 Cr. On a HoH basis, Sales up 22% and
Net Profit down 25%.
• MCap of INR 157 Cr (share price = INR 362 /share); TTM PE 22.2x (as on 29th May ‘24)

This page is created for information purpose. It is not a BUY/SELL recommendation. 20

Please do your own due diligence before making any investment decisions.
 29th May 2024
WISE TRAVEL INDIA LIMITED
(GOOD RESULTS) For the half year ending Mar-24, Sales up 16% HoH from INR 190 Cr in Sep-23 to INR
221 Cr in Mar-24. Similarly, Net Profit up 9% from INR 11 Cr to INR 12 Cr.
• MCap of INR 567 Cr (share price = INR 238 /share); TTM PE 24.4x (as on 29th May ‘24)

THAAI CASTING LIMITED

(GOOD RESULTS) For the half year ending Mar-24, Sales up 15% HoH* from INR 41.5 Cr in Sep-23 to INR
48 Cr in Mar-24. Similarly, Net Profit up 10% from INR 7.4 Cr to INR 8.2 Cr.
*Half-year ending September numbers are adjusted for 6 months, and they are derived from 7 months of
data, i.e., April to October.
• MCap of INR 404 Cr (share price = INR 175 /share); TTM PE 25.9x (as on 29th May ‘24)

AVG LOGISTICS LIMITED

(GOOD RESULTS) For the quarter ending Mar-24, Sales up 21% YoY from INR 113 Cr in Mar-23 to INR 137
Cr in Mar-24. Similarly, Net Profit up 2.1x from INR 11 Cr to INR 23 Cr. On a QoQ basis, Sales up 10% and
Net Profit up 4.6x. However, Net profit is inflated due to exceptional items worth INR 14 Cr.
• MCap of INR 730 Cr (share price = INR 547/share); TTM PE 34.3x (as on 29th May ‘24)

SALZER ELECTRONICS LIMITED

(GOOD RESULTS) For the quarter ending Mar-24, Sales up 8% YoY from INR 295 Cr in Mar-23 to INR 318
Cr in Mar-24. Similarly, Net Profit up 33% from INR 9 Cr to INR 12 Cr. On a QoQ basis, Sales up 21% and
net profit remained flat.
• MCap of INR 1,230 Cr (share price = INR 707 /share); TTM PE 28.5x (as on 29th May ‘24)

PREVEST DENPRO LIMITED

(AVERAGE RESULTS) For the quarter ending Mar-24, Sales up 18% YoY from INR 13.8 Cr in Mar-23 to
INR 16.2 Cr in Mar-24. Similarly, Net Profit down 7% from INR 5.1 Cr to INR 4.8 Cr. On a QoQ basis, Sales
up 19% and Net Profit up 31%.
• MCap of INR 456 Cr (share price = INR 380 /share); TTM PE 28.3x (as on 29th May ‘24)

GREENLAM INDUSTRIES LIMITED

(AVERAGE RESULTS) For the quarter ending Mar-24, Sales up 17% YoY from INR 534 Cr in Mar-23 to INR
624 Cr in Mar-24. Similarly, Net Profit down 11% from INR 46 Cr to INR 41 Cr. On a QoQ basis, Sales up
11% and Net Profit up 64%.
• MCap of INR 7,476 Cr (share price = INR 586/share); TTM PE 54.2x (as on 29th May ‘24)

SYSTANGO TECHNOLOGIES LIMITED

(AVERAGE RESULTS) For the half year ending Mar-24, Sales on a YOY basis remained flat at INR 30 Cr
while Net Profit down 10% from INR 10 Cr in Mar-23 to INR 9 Cr in Mar-24. On a HoH basis, Sales up 11%
and Net Profit up 13%.
• MCap of INR 346 Cr (share price = INR 236 /share); TTM PE 20.4x (as on 29th May ‘24)

TAYLORMADE RENEWABLES LIMITED

(AVERAGE RESULTS) For the half year ending Mar-24, Sales up 75% YoY from INR 12 Cr in Mar-23 to INR
21 Cr in Mar-24. Similarly, Net Profit up 37% from INR 1.9 Cr to INR 2.6 Cr. On a HoH basis, Sales down
19% and Net Profit down 63%.
• MCap of INR 576 Cr (share price = INR 519 /share); TTM PE 54.3x (as on 29th May ‘24)

CADSYS (INDIA) LIMITED

(WEAK TO AVERAGE RESULTS) For the half year ending Mar-24, Sales up 6% YoY from INR 101 Cr in
Mar-23 to INR 107 Cr in Mar-24. Similarly, Net Profit down 56% from INR 15 Cr to INR 6.6 Cr. On a HoH
basis, Sales down 1% and Net Profit down 6%.
• MCap of INR 289 Cr (share price = INR 386/share); TTM PE 35.9x (as on 29th May ‘24)

This page is created for information purpose. It is not a BUY/SELL recommendation. 21

Please do your own due diligence before making any investment decisions.
 29th May 2024
D&H INDIA LIMITED
(WEAK TO AVERAGE RESULTS) For the quarter ending Mar-24, Sales up 17% YoY from INR 39.4 Cr in
Mar-23 to INR 46.2 Cr in Mar-24. Similarly, Net Profit down 40% from INR 0.9 Cr to INR 0.6 Cr. On a QoQ
basis, Sales up 8% and Net Profit down 46%.
MCap of INR 88.2 Cr (share price = INR 108 /share); TTM PE 32.7x (as on 29th May ‘24)

CANARYS AUTOMATIONS LIMITED

(WEAK TO AVERAGE RESULTS) For the half year ending Mar-24, Sales down 4% YoY from INR 45.8 Cr
in Mar-23 to INR 44 Cr in Mar-24. Similarly, Net Profit down 17% from INR 6.4 Cr to INR 5.3 Cr. On a HoH
basis, Sales up 42% and Net Profit up 2x.
• MCap of INR 267 Cr (share price = INR 47.5/share); TTM PE 30.1x (as on 29th May ‘24)

SAAKSHI MEDTECH & PANELS LIMITED

(WEAK TO AVERAGE RESULTS) For the half year ending Mar-24, Sales down 12% YoY from INR 69 Cr in
Mar-23 to INR 61 Cr in Mar-24. Similarly, Net Profit down 14% from INR 7 Cr to INR 6 Cr. On a HoH basis,
Sales and Net Profit remained flat.
• MCap of INR 390 Cr (share price = INR 221/share); TTM PE 34.5x (as on 29th May ‘24)

SEALMATIC INDIA LIMITED

(WEAK RESULTS) For the half year ending Mar-24, Sales up 3% YoY from INR 32.9 Cr in Mar-23 to INR 34
Cr in Mar-24. Similarly, Net Profit down 41% from INR 5.6 Cr to INR 3.3 Cr. On a HoH basis, Sales down 8%
and Net Profit down 51%.
• MCap of INR 464 Cr (share price = INR 512/share); TTM PE 47.1x (as on 29th May ‘24)

MTAR TECHNOLOGIES LIMITED

(POOR RESULTS) For the quarter ending Mar-24, Sales down 27% YoY from INR 196.4 Cr in Mar-23 to
INR 142.97 Cr in Mar-24. Similarly, Net Profit down 84% from INR 31.07 Cr to INR 4.87 Cr. On a QoQ basis,
Sales up 21% and Net Profit down 53%.
• MCap of INR 5,657 Cr (share price = INR 1,839 /share); TTM PE 101x (as on 29th May ‘24)

KNOWLEDGE MARINE & ENGINEERING WORKS LIMITED

(POOR RESULTS) For the half year ending Mar-24, Sales down 28% YoY from INR 79 Cr in Mar-23 to INR
57 Cr in Mar-24. Similarly, Net Profit down 61% from INR 23 Cr to INR 9 Cr. On a HoH basis, Sales down
47% and Net Profit down 63%.
• MCap of INR 1,215 Cr (share price = INR 1,125/share); TTM PE 37x (as on 29th May ‘24)

SEMAC CONSULTANTS LIMITED

(POOR RESULTS) For the quarter ending Mar-24, Sales down 68% YoY from INR 78 Cr in Mar-23 to INR
25 Cr in Mar-24. Similarly, Net Profit down from profit of INR 5 Cr to loss of INR 16 Cr. On a QoQ basis, Sales
down 11%
• MCap of INR 242 Cr (share price = INR 813 /share); TTM PE NA (as on 29th May ‘24)

This page is created for information purpose. It is not a BUY/SELL recommendation. 22

Please do your own due diligence before making any investment decisions.
 29th May 2024
IPO
SME / Subs
Company Status Open Close Listing GMP
Mainboard (x)
Kronox Lab Sciences Mainboard Upcoming 03-Jun-24 05-Jun-24 10-Jun-24 40% NA
TBI Corn SME Upcoming 31-May-24 04-Jun-24 07-Jun-24 69% NA
Associated Coaters SME Upcoming 30-May-24 03-Jun-24 06-Jun-24 17% NA
Aimtron Electronics SME Upcoming 30-May-24 03-Jun-24 06-Jun-24 31% NA
Ztech India SME Open 29-May-24 31-May-24 04-Jun-24 73% 21
Beacon Trusteeship SME Open 28-May-24 30-May-24 04-Jun-24 158% 130
Vilas Transcore SME Close 27-May-24 29-May-24 03-Jun-24 70% 205
GSM Foils SME Close 24-May-24 28-May-24 31-May-24 31% 257
Awfis Space Solutions Mainboard Close 22-May-24 27-May-24 30-May-24 22% 108

Company Sector Revenue growth (YoY) Profit growth (YoY) Issue PE

Kronox Lab Sciences Speciality Chemicals -6% 24% 26x
TBI Corn Agricultural & Processed Food Products 1% 94% 17x
Associated Coaters Building Material 30% 22% 27x
Aimtron Electronics EMS 21% 65% 28x
Ztech India Waste Management 2.6x 4x 18x
Beacon Trusteeship Financial Services 33% 2.1x 21x
Vilas Transcore Capital Goods 11% 8% 17x
GSM Foils Strip Foils Manufacturing -45% 16% 26x
Awfis Space Solutions Workspace Solution Provider 49% _ _
Note: GMP keeps updating till listing on exchange. Subscription (x) keeps updating till Issue is Open.
Revenue and Profit growth is calculated after annualizing last period growth.

Sovrenn SME Index: 0.18%

Sovrenn SME Index was up 0.18% today. Please note that the constituents of the Index are private.
Also, the Index is only an indication of the movement of the broader SME market and not available
for replication or commercialization in any form. Sovrenn has the right to make changes to Index
constituents or change weightages of the constituents as per its own discretion.

This page is created for information purpose. It is not a BUY/SELL recommendation. 23

Please do your own due diligence before making any investment decisions.
 29th May 2024
Sovrenn Macro

IMF Lifts China Growth Forecast to 5% Citing Fast Start to 2024

The International Monetary Fund (IMF) has revised its growth forecast for China’s economy, anticipating a
5% expansion in 2024. This is an increase from the 4.6% forecast earlier this year, reflecting a robust
economic start and additional governmental support. The IMF’s adjustment is based on data showing a strong
performance in the first quarter and ongoing public investment.

First Quarter Surge Bolsters Confidence

China’s economy grew by 5.3% in the first quarter of 2024, surpassing expectations and setting a positive
tone for the year. This early surge has prompted the IMF to revise its forecast upwards. The growth was
driven by a mix of factors, including recovering consumption and strong public investment. However,
challenges remain, particularly in the housing sector, which continues to dampen domestic demand.

Public Investment Outpaces Private Sector

IMF First Deputy Managing Director Gita Gopinath highlighted that while consumption is on the mend, it still
has a long way to go to reach pre-pandemic levels. Public investment remains a critical driver of growth,
whereas private investment lags due to the persistent weakness in the property market. The IMF's report
underscores the need for balanced growth across sectors to sustain momentum.

Addressing the Housing Market Slump

The housing market remains a significant concern for China’s economic stability. Despite various efforts to
stabilize prices and boost demand, the sector has not fully recovered. The IMF has urged Beijing to enhance
its fiscal and monetary policies to address this issue. Specifically, Gopinath emphasized the importance of
mobilizing central government resources to protect buyers of pre-sold unfinished homes and to expedite the
completion of these projects. This approach aims to resolve the problems of insolvent developers and restore
confidence in the real estate market.

Recent Government Measures

In response to the ongoing housing crisis, Chinese officials recently announced new measures to support
the real estate market. These include easing down-payment requirements for homebuyers and providing 300
billion yuan (approximately $42 billion) in central bank funding to help local governments purchase excess
inventory from developers. While these steps are seen as positive, the IMF believes more comprehensive
support is necessary.

Future Outlook
Looking ahead, the IMF has also raised its growth forecast for China in 2025, from 4.1% to 4.5%. This
optimistic outlook hinges on the continued implementation of supportive policies and the resolution of key
economic challenges. China’s target of around 5% growth for 2024 appears attainable, provided that
consumption recovery gains momentum and the housing sector stabilizes.

The IMF’s updated forecast reflects a cautious optimism about China’s economic trajectory, underscoring the
importance of strategic interventions to navigate current challenges and sustain long-term growth.

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 29th May 2024
Companies declaring results on 29th & 30th May 2024
Sl. No. Name of the Company Date
1 3B Blackbio DX Ltd 29-May-24
2 3i Infotech Ltd 29-May-24
3 52 Weeks Entertainment Ltd 29-May-24
4 A F Enterprises Ltd 29-May-24
5 A R C Finance Ltd 29-May-24
6 A-1 Acid Ltd 29-May-24
7 Aadhaar Ventures India Ltd 29-May-24
8 Aadhar Housing Finance Ltd 29-May-24
9 Aadi Industries Ltd 29-May-24
10 Aananda Lakshmi Spinning Mills Ltd 29-May-24
11 Aar Shyam (India) Investment Company Ltd 29-May-24
12 Aarnav Fashions Ltd 29-May-24
13 Aarvee Denims & Exports Ltd 29-May-24
14 Abate As Industries Ltd 29-May-24
15 Abhishek Infraventures Ltd 29-May-24
16 Accuracy Shipping Ltd 29-May-24
17 Acme Resources Ltd 29-May-24
18 ADC India Communications Ltd 29-May-24
19 Addi Industries Ltd 29-May-24
20 Adjia Technologies Ltd 29-May-24
21 Agarwal Float Glass India Ltd 29-May-24
22 AGI Infra Ltd 29-May-24
23 AGS Transact Technologies Ltd 29-May-24
24 Ahluwalia Contracts (India) Ltd 29-May-24
25 Ajwa Fun World & Resort Ltd 29-May-24
26 Akanksha Power & Infrastructure Ltd 29-May-24
27 AksharChem (India) Ltd 29-May-24
28 Alan Scott Industries Ltd 29-May-24
29 Alkem Laboratories Ltd 29-May-24
30 Allied Computers International (Asia) Ltd 29-May-24
31 Almondz Global Securities Ltd 29-May-24
32 Alpine Housing Development Corporation Ltd 29-May-24
33 Aluwind Architectural Ltd 29-May-24
34 Amarjothi Spinning Mills Ltd 29-May-24
35 Amkay Products Ltd 29-May-24
36 Amrapali Capital and Finance Services Ltd 29-May-24
37 Andhra Pradesh Tanneries Ltd 29-May-24
38 Andrew Yule & Company Ltd 29-May-24
39 Anjani Finance Ltd 29-May-24
40 Anjani Foods Ltd 29-May-24
41 Anna Infrastructures Ltd 29-May-24
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 29th May 2024
42 Ansal Housing Ltd 29-May-24
43 Anshuni Commercials Ltd 29-May-24
44 Arabian Petroleum Ltd 29-May-24
45 Archies Ltd 29-May-24
46 Aries Agro Ltd 29-May-24
47 Arigato Universe Ltd 29-May-24
48 Arihants Securities Ltd 29-May-24
49 Art Nirman Ltd 29-May-24
50 Ashapura Minechem Ltd 29-May-24
51 Ashnisha Industries Ltd 29-May-24
52 Asian Hotels (North) Ltd 29-May-24
53 Aspinwall & Company Ltd 29-May-24
54 Assam Entrade Ltd 29-May-24
55 Astron Paper & Board Mill Ltd 29-May-24
56 Atcom Technologies Ltd 29-May-24
57 Atlas Cycles (Haryana) Ltd 29-May-24
58 Atmastco Ltd 29-May-24
59 Automobile Products of India Ltd 29-May-24
60 AVG Logistics Ltd 29-May-24
61 AVP Infracon Ltd 29-May-24
62 AVT Natural Products Ltd 29-May-24
63 B A G Films & Media Ltd 29-May-24
64 B P Capital Ltd 29-May-24
65 Bafna Pharmaceuticals Ltd 29-May-24
66 Bajaj Steel Industries Ltd 29-May-24
67 Balaxi Pharmaceuticals Ltd 29-May-24
68 Balurghat Technologies Ltd 29-May-24
69 Bambino Agro Industries Ltd 29-May-24
70 Banco Products (India) Ltd 29-May-24
71 Bandaram Pharma Packtech Ltd 29-May-24
72 Bannari Amman Spinning Mills Ltd 29-May-24
73 Bata India Ltd 29-May-24
74 BCL Enterprises Ltd 29-May-24
75 Beryl Securities Ltd 29-May-24
76 Best Eastern Hotels Ltd 29-May-24
77 Bhagwati Autocast Ltd 29-May-24
78 Bharat Gears Ltd 29-May-24
79 Bhartiya International Ltd 29-May-24
80 Bhatia Communications & Retail (India) Ltd 29-May-24
81 Bimetal Bearings Ltd 29-May-24
82 BITS Ltd 29-May-24
83 Bizotic Commercial Ltd 29-May-24
84 Bloom Industries Ltd 29-May-24

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 29th May 2024
85 Bluechip Tex Industries Ltd 29-May-24
86 BMB Music & Magnetics Ltd 29-May-24
87 Bobshell Electrodes Ltd 29-May-24
88 Brawn Biotech Ltd 29-May-24
89 Brisk Technovision Ltd 29-May-24
90 BWL Ltd 29-May-24
91 C P S Shapers Ltd 29-May-24
92 Cadsys (India) Ltd 29-May-24
93 Callista Industries Ltd 29-May-24
94 Capricorn Systems Global Solutions Ltd 29-May-24
95 Cargosol Logistics Ltd 29-May-24
96 Celebrity Fashions Ltd 29-May-24
97 Cerebra Integrated Technologies Ltd 29-May-24
98 CFF Fluid Control Ltd 29-May-24
99 Chandni Machines Ltd 29-May-24
100 Chartered Capital & Investment Ltd 29-May-24
101 Chavda Infra Ltd 29-May-24
102 CHD Chemicals Ltd 29-May-24
103 CHL Ltd 29-May-24
104 Choksi Laboratories Ltd 29-May-24
105 Chordia Food Products Ltd 29-May-24
106 CIAN Agro Industries & Infrastructure Ltd 29-May-24
107 CIL Nova Petrochemicals Ltd 29-May-24
108 Cinerad Communications Ltd 29-May-24
109 CMM Infraprojects Ltd 29-May-24
110 Cochin Minerals & Rutile Ltd 29-May-24
111 Colinz Laboratories Ltd 29-May-24
112 Commercial Syn Bags Ltd 29-May-24
113 Committed Cargo Care Ltd 29-May-24
114 Constronics Infra Ltd 29-May-24
115 Containe Technologies Ltd 29-May-24
116 Continental Seeds and Chemicals Ltd 29-May-24
117 Cool Caps Industries Ltd 29-May-24
118 Coral India Finance & Housing Ltd 29-May-24
119 Coromandel Agro Products and Oils Ltd 29-May-24
120 Covidh Technologies Ltd 29-May-24
121 Cressanda Railway Solutions Ltd 29-May-24
122 Crimson Metal Engineering Company Ltd 29-May-24
123 Cummins India Ltd 29-May-24
124 CWD Ltd 29-May-24
125 Cybele Industries Ltd 29-May-24
126 Darshan Orna Ltd 29-May-24
127 Daulat Securities Ltd 29-May-24

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 29th May 2024
128 Deccan Health Care Ltd 29-May-24
129 Decillion Finance Ltd 29-May-24
130 Deepak Fertilizers & Petrochemicals Corp Ltd 29-May-24
131 Deepak Spinners Ltd 29-May-24
132 Delaplex Ltd 29-May-24
133 Devinsu Trading Ltd 29-May-24
134 Diligent Industries Ltd 29-May-24
135 Disha Resources Ltd 29-May-24
136 DJS Stock & Shares Ltd 29-May-24
137 Dolfin Rubbers Ltd 29-May-24
138 Dolphin Medical Services Ltd 29-May-24
139 Donear Industries Ltd 29-May-24
140 Dredging Corporation of India Ltd 29-May-24
141 Droneacharya Aerial Innovations Ltd 29-May-24
142 DRS Cargo Movers Ltd 29-May-24
143 DRS Dilip Roadlines Ltd 29-May-24
144 East West Holdings Ltd 29-May-24
145 Eastern Sugar & Industries Ltd 29-May-24
146 Eastern Treads Ltd 29-May-24
147 Easun Capital Markets Ltd 29-May-24
148 Eco Hotels and Resorts Ltd 29-May-24
149 Econo Trade India Ltd 29-May-24
150 EFC (I) Ltd 29-May-24
151 Elegant Floriculture & Agrotech (India) Ltd 29-May-24
152 Elegant Marbles and Grani Industries Ltd 29-May-24
153 Elin Electronics Ltd 29-May-24
154 Elnet Technologies Ltd 29-May-24
155 Emami Ltd 29-May-24
156 Emmessar Biotech & Nutrition Ltd 29-May-24
157 Emmsons International Ltd 29-May-24
158 Empower India Ltd 29-May-24
159 EMS Ltd 29-May-24
160 Energy Development Company Ltd 29-May-24
161 Entero Healthcare Solutions Ltd 29-May-24
162 Epsom Properties Ltd 29-May-24
163 ERP Soft Systems Ltd 29-May-24
164 Esconet Technologies Ltd 29-May-24
165 Eureka Industries Ltd 29-May-24
166 Euro India Fresh Foods Ltd 29-May-24
167 Euro Leder Fashion Ltd 29-May-24
168 F Mec International Financial Services Ltd 29-May-24
169 FDC Ltd 29-May-24
170 Federal-Mogul Goetze (India) Ltd 29-May-24

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 29th May 2024
171 Flora Corporation Ltd 29-May-24
172 Fonebox Retail Ltd 29-May-24
173 Forbes & Company Ltd 29-May-24
174 Foundry Fuel Products Ltd 29-May-24
175 Frontier Capital Ltd 29-May-24
176 Fruition Venture Ltd 29-May-24
177 Futuristic Securities Ltd 29-May-24
178 G R Infraprojects Ltd 29-May-24
179 Gala Global Products Ltd 29-May-24
180 Ganga Forging Ltd 29-May-24
181 Gangotri Textiles Ltd 29-May-24
182 Garware Hi Tech Films Ltd 29-May-24
183 Gayatri Highways Ltd 29-May-24
184 GB Global Ltd 29-May-24
185 GCM Securities Ltd 29-May-24
186 GDL Leasing & Finance Ltd 29-May-24
187 Gem Spinners India Ltd 29-May-24
188 Genesis IBRC India Ltd 29-May-24
189 Genus Power Infrastructures Ltd 29-May-24
190 GFL Ltd 29-May-24
191 Gini Silk Mills Ltd 29-May-24
192 GIR Natureview Resorts Ltd 29-May-24
193 Global Offshore Services Ltd 29-May-24
194 Global Surfaces Ltd 29-May-24
195 Global Vectra Helicorp Ltd 29-May-24
196 Globus Spirits Ltd 29-May-24
197 GMR Airports Infrastructure Ltd 29-May-24
198 Goblin India Ltd 29-May-24
199 Goenka Business & Finance Ltd 29-May-24
200 Gogia Capital Services Ltd 29-May-24
201 Goyal Aluminiums Ltd 29-May-24
202 Graphisads Ltd 29-May-24
203 Gravity (India) Ltd 29-May-24
204 Greenchef Appliances Ltd 29-May-24
205 GRM Overseas Ltd 29-May-24
206 Gufic BioSciences Ltd 29-May-24
207 Gujarat Cotex Ltd 29-May-24
208 Gujarat Terce Laboratories Ltd 29-May-24
209 Hawkins Cookers Ltd 29-May-24
210 Hazoor Multi Projects Ltd 29-May-24
211 Healthcare Global Enterprises Ltd 29-May-24
212 Healthy Investments Ltd 29-May-24
213 HEC Infra Projects Ltd 29-May-24

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Please do your own due diligence before making any investment decisions.
 29th May 2024
214 HeidelbergCement India Ltd 29-May-24
215 Hemo Organic Ltd 29-May-24
216 Heritage Foods Ltd 29-May-24
217 Heubach Colorants India Ltd 29-May-24
218 Hind Commerce Ltd 29-May-24
219 Hindustan Composites Ltd 29-May-24
220 Hindustan Housing Company Ltd 29-May-24
221 Hindustan Oil Exploration Company Ltd 29-May-24
222 Hindusthan Udyog Ltd 29-May-24
223 ICE Make Refrigeration Ltd 29-May-24
224 IEC Education Ltd 29-May-24
225 Inani Marbles & Industries Ltd 29-May-24
226 Inceptum Enterprises Ltd 29-May-24
227 Indegene Ltd 29-May-24
228 India Finsec Ltd 29-May-24
229 India Home Loans Ltd 29-May-24
230 India Power Corporation Ltd 29-May-24
231 Indian Card Clothing Company Ltd 29-May-24
232 Indian Terrain Fashions Ltd 29-May-24
233 IndiaNivesh Ltd 29-May-24
234 Indo Credit Capital Ltd 29-May-24
235 Indsil Hydro Power & Manganese Ltd 29-May-24
236 Infinium Pharmachem Ltd 29-May-24
237 Inflame Appliances Ltd 29-May-24
238 Infronics Systems Ltd 29-May-24
239 Innova Captab Ltd 29-May-24
240 Innovassynth Investments Ltd 29-May-24
241 Insilco Ltd 29-May-24
242 Inspire Films Ltd 29-May-24
243 Intec Capital Ltd 29-May-24
244 Integra Switchgear Ltd 29-May-24
245 Integrated Industries Ltd 29-May-24
246 Integrated Personnel Services Ltd 29-May-24
247 Inter Globe Finance Ltd 29-May-24
248 Interactive Financial Services Ltd 29-May-24
249 Inventure Growth & Securities Ltd 29-May-24
250 Investment & Precision Castings Ltd 29-May-24
251 Ion Exchange (India) Ltd 29-May-24
252 Ipca Laboratories Ltd 29-May-24
253 ISGEC Heavy Engineering Ltd 29-May-24
254 IST Ltd 29-May-24
255 J A Finance Ltd 29-May-24
256 J D Orgochem Ltd 29-May-24

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 29th May 2024
257 J J Finance Corporation Ltd 29-May-24
258 Jakharia Fabric Ltd 29-May-24
259 James Warren Tea Ltd 29-May-24
260 Janus Corporation Ltd 29-May-24
261 Jay Jalaram Technologies Ltd 29-May-24
262 Jay Ushin Ltd 29-May-24
263 Jayant Infratech Ltd 29-May-24
264 Jet Freight Logistics Ltd 29-May-24
265 Jet Infraventure Ltd 29-May-24
266 Jet Knitwears Ltd 29-May-24
267 Jindal Poly Films Ltd 29-May-24
268 JPT Securities Ltd 29-May-24
269 Jubilant Pharmova Ltd 29-May-24
270 Jupiter Industries & Leasing Ltd 29-May-24
271 Jyoti Structures Ltd 29-May-24
272 K G Denim Ltd 29-May-24
273 K&R Rail Engineering Ltd 29-May-24
274 Kachchh Minerals Ltd 29-May-24
275 Kakatiya Textiles Ltd 29-May-24
276 Kallam Textiles Ltd 29-May-24
277 Kalyan Capitals Ltd 29-May-24
278 Kalyani Commercials Ltd 29-May-24
279 Kamadgiri Fashion Ltd 29-May-24
280 Kanchi Karpooram Ltd 29-May-24
281 KCP Sugar & Industries Corporation Ltd 29-May-24
282 Kemistar Corporation Ltd 29-May-24
283 Kerala Ayurveda Ltd 29-May-24
284 Khaitan (India) Ltd 29-May-24
285 KIOCL Ltd 29-May-24
286 Kiran Syntex Ltd 29-May-24
287 KKV Agro Powers Ltd 29-May-24
288 KLG Capital Services Ltd 29-May-24
289 KMC Speciality Hospitals (India) Ltd 29-May-24
290 KMG Milk Food Ltd 29-May-24
291 KNR Constructions Ltd 29-May-24
292 Kohinoor Foods Ltd 29-May-24
293 Kovai Medical Center & Hospital Ltd 29-May-24
294 Kreon Finnancial Services Ltd 29-May-24
295 Kridhan Infra Ltd 29-May-24
296 Krishna Ventures Ltd 29-May-24
297 Kshitij Investments Ltd 29-May-24
298 Kshitij Polyline Ltd 29-May-24
299 Kuantum Papers Ltd 29-May-24

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 29th May 2024
300 Kuberan Global Edu Solutions Ltd 29-May-24
301 Lambodhara Textiles Ltd 29-May-24
302 Le Lavoir Ltd 29-May-24
303 Lemon Tree Hotels Ltd 29-May-24
304 Lexus Granito (India) Ltd 29-May-24
305 Liberty Shoes Ltd 29-May-24
306 Link Pharma Chem Ltd 29-May-24
307 LWS Knitwear Ltd 29-May-24
308 Lyons Corporate Market Ltd 29-May-24
309 M K Exim (India) Ltd 29-May-24
310 M K Proteins Ltd 29-May-24
311 M M Forgings Ltd 29-May-24
312 M M Rubber Co Ltd 29-May-24
313 Maa Jagdambe Tradelinks Ltd 29-May-24
314 Magna Electro Castings Ltd 29-May-24
315 Magnus Retail Ltd 29-May-24
316 Maha Rashtra Apex Corporation Ltd 29-May-24
317 Mahaan Foods Ltd 29-May-24
318 Mahanagar Telephone Nigam Ltd 29-May-24
319 Maharashtra Corporation Ltd 29-May-24
320 Maithan Alloys Ltd 29-May-24
321 Manas Properties Ltd 29-May-24
322 Mangalam Industrial Finance Ltd 29-May-24
323 Mangalam Seeds Ltd 29-May-24
324 Mansi Finance (Chennai) Ltd 29-May-24
325 Mansoon Trading Company Ltd 29-May-24
326 Margo Finance Ltd 29-May-24
327 Marine Electricals (India) Ltd 29-May-24
328 Maris Spinners Ltd 29-May-24
329 Martin Burn Ltd 29-May-24
330 Mauria Udyog Ltd 29-May-24
331 Maximus International Ltd 29-May-24
332 Mayukh Dealtrade Ltd 29-May-24
333 Mayur Floorings Ltd 29-May-24
334 Mazagon Dock Shipbuilders Ltd 29-May-24
335 McNally Bharat Engineering Company Ltd 29-May-24
336 Medicamen Biotech Ltd 29-May-24
337 Mega Nirman & Industries Ltd 29-May-24
338 Megh Mayur Infra Ltd 29-May-24
339 Mehta Integrated Finance Ltd 29-May-24
340 Mehta Securities Ltd 29-May-24
341 Menon Pistons Ltd 29-May-24
342 Mercury Trade Links Ltd 29-May-24

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 29th May 2024
343 Metal Coatings (India) Ltd 29-May-24
344 Microse India Ltd 29-May-24
345 Mish Designs Ltd 29-May-24
346 Mitshi India Ltd 29-May-24
347 Miven Machine Tools Ltd 29-May-24
348 Modipon Ltd 29-May-24
349 Modison Ltd 29-May-24
350 Mohini Health & Hygiene Ltd 29-May-24
351 Mohit Industries Ltd 29-May-24
352 Mohite Industries Ltd 29-May-24
353 Morgan Ventures Ltd 29-May-24
354 MOS Utility Ltd 29-May-24
355 MSP Steel & Power Ltd 29-May-24
356 Multibase India Ltd 29-May-24
357 Multiplus Holdings Ltd 29-May-24
358 Munjal Showa Ltd 29-May-24
359 Munoth Communication Ltd 29-May-24
360 Munoth Financial Services Ltd 29-May-24
361 Murudeshwar Ceramics Ltd 29-May-24
362 Naga Dhunseri Group Ltd 29-May-24
363 Nagreeka Capital & Infrastructure Ltd 29-May-24
364 Nahar Capital & Financial Services Ltd 29-May-24
365 Nahar Polyfilms Ltd 29-May-24
366 Nahar Spinning Mills Ltd 29-May-24
367 Naksh Precious Metals Ltd 29-May-24
368 Naturite Agro Products Ltd 29-May-24
369 Navoday Enterprises Ltd 29-May-24
370 NCL Research and Financial Services Ltd 29-May-24
371 NDA Securities Ltd 29-May-24
372 Neelamalai Agro Industries Ltd 29-May-24
373 Neil Industries Ltd 29-May-24
374 New Markets Advisory Ltd 29-May-24
375 Nikki Global Finance Ltd 29-May-24
376 NINtec Systems Ltd 29-May-24
377 Niraj Ispat Industries Ltd 29-May-24
378 Nitco Ltd 29-May-24
379 Nivaka Fashions Ltd 29-May-24
380 NOCIL Ltd 29-May-24
381 Norben Tea & Exports Ltd 29-May-24
382 Norris Medicines Ltd 29-May-24
383 Northern Spirits Ltd 29-May-24
384 Nouveau Global Ventures Ltd 29-May-24
385 Nova Iron & Steel Ltd 29-May-24

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 29th May 2024
386 Nutech Global Ltd 29-May-24
387 Octal Credit Capital Ltd 29-May-24
388 Octavius Plantations Ltd 29-May-24
389 Olympia Industries Ltd 29-May-24
390 Olympic Cards Ltd 29-May-24
391 On Door Concepts Ltd 29-May-24
392 OneClick Logistics India Ltd 29-May-24
393 Optiemus Infracom Ltd 29-May-24
394 Optimus Finance Ltd 29-May-24
395 Orient Paper & Industries Ltd 29-May-24
396 Oswal Yarns Ltd 29-May-24
397 Pact Industries Ltd 29-May-24
398 Pagaria Energy Ltd 29-May-24
399 Palm Jewels Ltd 29-May-24
400 Pan Electronics (India) Ltd 29-May-24
401 Pan India Corporation Ltd 29-May-24
402 Panchsheel Organics Ltd 29-May-24
403 Pankaj Piyush Trade & Investment Ltd 29-May-24
404 Panyam Cements & Mineral Industries Ltd 29-May-24
405 Paragon Finance Ltd 29-May-24
406 Paragon Fine and Speciality Chemical Ltd 29-May-24
407 Parker Agrochem Exports Ltd 29-May-24
408 Parmeshwari Silk Mills Ltd 29-May-24
409 Pasari Spinning Mills Ltd 29-May-24
410 Patdiam Jewellery Ltd 29-May-24
411 Patron Exim Ltd 29-May-24
412 PBM Polytex Ltd 29-May-24
413 Phantom Digital Effects Ltd 29-May-24
414 Phyto Chem (India) Ltd 29-May-24
415 Plada Infotech Services Ltd 29-May-24
416 POCL Enterprises Ltd 29-May-24
417 Polylink Polymers (India) Ltd 29-May-24
418 Prabhat Technologies (India) Ltd 29-May-24
419 Pratik Panels Ltd 29-May-24
420 Precision Containeurs Ltd 29-May-24
421 Prime Urban Development India Ltd 29-May-24
422 Prism Medico & Pharmacy Ltd 29-May-24
423 Pro Fin Capital Services Ltd 29-May-24
424 Prolife Industries Ltd 29-May-24
425 Quadrant Televentures Ltd 29-May-24
426 Qualitek Labs Ltd 29-May-24
427 Quantum Build-Tech Ltd 29-May-24
428 Quasar India Ltd 29-May-24

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 29th May 2024
429 Quicktouch Technologies Ltd 29-May-24
430 Quintegra Solutions Ltd 29-May-24
431 Raaj Medisafe India Ltd 29-May-24
432 Raconteur Global Resources Ltd 29-May-24
433 Radha Madhav Corporation Ltd 29-May-24
434 Raideep Industries Ltd 29-May-24
435 Rajapalayam Mills Ltd 29-May-24
436 Rajasthan Cylinders & Containers Ltd 29-May-24
437 Rajasthan Tube Manufacturing Co Ltd 29-May-24
438 Rajdarshan Industries Ltd 29-May-24
439 Rajgor Castor Derivatives Ltd 29-May-24
440 Ram Info Ltd 29-May-24
441 Rama Petrochemicals Ltd 29-May-24
442 Ramdevbaba Solvent Ltd 29-May-24
443 Ramgopal Polytex Ltd 29-May-24
444 Ramky Infrastructure Ltd 29-May-24
445 Rana Sugars Ltd 29-May-24
446 Ranjeet Mechatronics Ltd 29-May-24
447 Rap Media Ltd 29-May-24
448 Rasandik Engineering Industries India Ltd 29-May-24
449 RattanIndia Enterprises Ltd 29-May-24
450 Ravikumar Distilleries Ltd 29-May-24
451 Ravinder Heights Ltd 29-May-24
452 RBM Infracon Ltd 29-May-24
453 RCC Cements Ltd 29-May-24
454 Real Growth Corporation Ltd 29-May-24
455 Redtape Ltd 29-May-24
456 Rekvina Labs Ltd 29-May-24
457 Reliable Ventures India Ltd 29-May-24
458 Reliance Communications Ltd 29-May-24
459 Relicab Cable Manufacturing Ltd 29-May-24
460 Renaissance Global Ltd 29-May-24
461 Resgen Ltd 29-May-24
462 Revati Organics Ltd 29-May-24
463 Rexnord Electronics & Controls Ltd 29-May-24
464 RHI Magnesita India Ltd 29-May-24
465 Riba Textiles Ltd 29-May-24
466 Rishabh Instruments Ltd 29-May-24
467 Rite Zone Chemcon India Ltd 29-May-24
468 Rockingdeals Circular Economy Ltd 29-May-24
469 Rollatainers Ltd 29-May-24
470 Rossell India Ltd 29-May-24
471 Royal Cushion Vinyl Products Ltd 29-May-24

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 29th May 2024
472 Royal India Corporation Ltd 29-May-24
473 Royal Orchid Hotels Ltd 29-May-24
474 Royale Manor Hotels & Industries Ltd 29-May-24
475 RPP Infra Projects Ltd 29-May-24
476 RRIL Ltd 29-May-24
477 RTS Power Corporation Ltd 29-May-24
478 Rudra Global Infra Products Ltd 29-May-24
479 S & S Power Switchgear Ltd 29-May-24
480 S P Capital Financing Ltd 29-May-24
481 Sahara Housing Fina Corporation Ltd 29-May-24
482 Sahara One Media and Entertainment Ltd 29-May-24
483 Sailani Tours N Travels Ltd 29-May-24
484 Sakthi Sugars Ltd 29-May-24
485 SAL Automotive Ltd 29-May-24
486 Salem Erode Investments Ltd 29-May-24
487 Salona Cotspin Ltd 29-May-24
488 Sam Industries Ltd 29-May-24
489 Samhi Hotels Ltd 29-May-24
490 Samkrg Pistons & Rings Ltd 29-May-24
491 Samrat Forgings Ltd 29-May-24
492 Samtel (India) Ltd 29-May-24
493 Samtex Fashions Ltd 29-May-24
494 Samvardhana Motherson International Ltd 29-May-24
495 Sandesh Ltd 29-May-24
496 Sangani Hospitals Ltd 29-May-24
497 Saptak Chem & Business Ltd 29-May-24
498 Saroja Pharma Industries India Ltd 29-May-24
499 Sarthak Industries Ltd 29-May-24
500 Satyam Silk Mills Ltd 29-May-24
501 Saumya Consultants Ltd 29-May-24
502 Savera Industries Ltd 29-May-24
503 Sayaji Hotels (Pune) Ltd 29-May-24
504 SBEC Systems (India) Ltd 29-May-24
505 SC Agrotech Ltd 29-May-24
506 Scoobee Day Garments India Ltd 29-May-24
507 Seacoast Shipping Services Ltd 29-May-24
508 Senthil Infotek Ltd 29-May-24
509 Seshachal Technologies Ltd 29-May-24
510 SGN Telecoms Ltd 29-May-24
511 Shangar Decor Ltd 29-May-24
512 Sharanam Infraproject & Trading Ltd 29-May-24
513 Sharp Chucks and Machines Ltd 29-May-24
514 Sharp India Ltd 29-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 36

Please do your own due diligence before making any investment decisions.
 29th May 2024
515 Shentracon Chemicals Ltd 29-May-24
516 Shigan Quantum Technologies Ltd 29-May-24
517 Shivalik Bimetal Controls Ltd 29-May-24
518 Shivalik Rasayan Ltd 29-May-24
519 Shivam Chemicals Ltd 29-May-24
520 Shraddha Prime Projects Ltd 29-May-24
521 Shree Ganesh Elastoplast Ltd 29-May-24
522 Shree Karni Fabcom Ltd 29-May-24
523 Shree Renuka Sugars Ltd 29-May-24
524 Shree Salasar Investments Ltd 29-May-24
525 Shreeji Translogistics Ltd 29-May-24
526 Shreevatsaa Finance & Leasing Ltd 29-May-24
527 Shri Venkatesh Refineries Ltd 29-May-24
528 Shricon Industries Ltd 29-May-24
529 Shriram Properties Ltd 29-May-24
530 Shukra Bullions Ltd 29-May-24
531 Shukra Jewellery Ltd 29-May-24
532 Shukra Pharmaceuticals Ltd 29-May-24
533 Shyama Infosys Ltd 29-May-24
534 Sibar Auto Parts Ltd 29-May-24
535 Sikozy Realtors Ltd 29-May-24
536 Silgo Retail Ltd 29-May-24
537 Simbhaoli Sugars Ltd 29-May-24
538 Sindu Valley Technologies Ltd 29-May-24
539 Sintex Plastics Technology Ltd 29-May-24
540 Sirohia & Sons Ltd 29-May-24
541 SJVN Ltd 29-May-24
542 SM Auto Stamping Ltd 29-May-24
543 SMS Pharmaceuticals Ltd 29-May-24
544 Softsol India Ltd 29-May-24
545 Solara Active Pharma Sciences Ltd 29-May-24
546 Solis Marketing Ltd 29-May-24
547 Som Datt Finance Corporation Ltd 29-May-24
548 South West Pinnacle Exploration Ltd 29-May-24
549 Southern Infosys Ltd 29-May-24
550 Southern Magnesium & Chemicals Ltd 29-May-24
551 SPA Capital Services Ltd 29-May-24
552 Sparc Electrex Ltd 29-May-24
553 SPV Global Trading Ltd 29-May-24
554 Sreeleathers Ltd 29-May-24
555 Sri Havisha Hospitality & Infrastructure Ltd 29-May-24
556 Sri Ramakrishna Mills (Coimbatore) Ltd 29-May-24
557 Standard Surfactants Ltd 29-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 37

Please do your own due diligence before making any investment decisions.
 29th May 2024
558 STL Global Ltd 29-May-24
559 Sugal & Damani Share Brokers Ltd 29-May-24
560 Sukhjit Starch & Chemicals Ltd 29-May-24
561 Sumit Woods Ltd 29-May-24
562 Sungarner Energies Ltd 29-May-24
563 Sunraj Diamond Exports Ltd 29-May-24
564 Super Sales India Ltd 29-May-24
565 Superior Finlease Ltd 29-May-24
566 Superior Industrial Enterprises Ltd 29-May-24
567 Supra Pacific Financial Services Ltd 29-May-24
568 Suprajit Engineering Ltd 29-May-24
569 Suryo Foods & Industries Ltd 29-May-24
570 Suumaya Corporation Ltd 29-May-24
571 Suumaya Industries Ltd 29-May-24
572 Swadeshi Industries & Leasing Ltd 29-May-24
573 Swarnsarita Jewels India Ltd 29-May-24
574 Swastik Pipe Ltd 29-May-24
575 Swati Projects Ltd 29-May-24
576 Switching Technologies Gunther Ltd 29-May-24
577 Swojas Energy Foods Ltd 29-May-24
578 Synoptics Technologies Ltd 29-May-24
579 Tantia Constructions Ltd 29-May-24
580 Tarapur Transformers Ltd 29-May-24
581 Tata Steel Ltd 29-May-24
582 Technocraft Industries (India) Ltd 29-May-24
583 TechNVision Ventures Ltd 29-May-24
584 Texmo Pipes & Products Ltd 29-May-24
585 TGV Sraac Ltd 29-May-24
586 Thacker & Company Ltd 29-May-24
587 Thakkers Group Ltd 29-May-24
588 The Hi-Tech Gears Ltd 29-May-24
589 The Phosphate Company Ltd 29-May-24
590 Timescan Logistics (India) Ltd 29-May-24
591 Tirupati Foam Ltd 29-May-24
592 Titaanium Ten Enterprise Ltd 29-May-24
593 Titan Biotech Ltd 29-May-24
594 Titan Securities Ltd 29-May-24
595 Tivoli Construction Ltd 29-May-24
596 Trigyn Technologies Ltd 29-May-24
597 Triumph International Finance India Ltd 29-May-24
598 Turner Industries Ltd 29-May-24
599 Ucal Ltd 29-May-24
600 Uma Exports Ltd 29-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 38

Please do your own due diligence before making any investment decisions.
 29th May 2024
601 Unijolly Investments Company Ltd 29-May-24
602 Unishire Urban Infra Ltd 29-May-24
603 United Textiles Ltd 29-May-24
604 Univa Foods Ltd 29-May-24
605 Ushanti Colour Chem Ltd 29-May-24
606 Vaarad Ventures Ltd 29-May-24
607 Valiant Communications Ltd 29-May-24
608 Valor Estate Ltd 29-May-24
609 Valson Industries Ltd 29-May-24
610 Vama Industries Ltd 29-May-24
611 Vamshi Rubber Ltd 29-May-24
612 Vasudhagama Enterprises Ltd 29-May-24
613 Veejay Lakshmi Engineering Works Ltd 29-May-24
614 Veekayem Fashion & Apparels Ltd 29-May-24
615 Veeram Securities Ltd 29-May-24
616 Velan Hotels Ltd 29-May-24
617 Vels Film International Ltd 29-May-24
618 Vera Synthetic Ltd 29-May-24
619 Veritas (India) Ltd 29-May-24
620 Veto Switchgears & Cables Ltd 29-May-24
621 Victoria Enterprises Ltd 29-May-24
622 Vidhi Specialty Food Ingredients Ltd 29-May-24
623 Vikalp Securities Ltd 29-May-24
624 Vikas Lifecare Ltd 29-May-24
625 Vikram Thermo (India) Ltd 29-May-24
626 Vilin Bio Med Ltd 29-May-24
627 Vinayak Vanijya Ltd 29-May-24
628 Vineet Laboratories Ltd 29-May-24
629 Vinyas Innovative Technologies Ltd 29-May-24
630 Virat Leasing Ltd 29-May-24
631 Virgo Global Ltd 29-May-24
632 Vishal Fabrics Ltd 29-May-24
633 Vital Chemtech Ltd 29-May-24
634 Vivid Mercantile Ltd 29-May-24
635 Waterbase Ltd 29-May-24
636 Websol Energy System Ltd 29-May-24
637 Welterman International Ltd 29-May-24
638 Western India Plywoods Ltd 29-May-24
639 Winpro Industries Ltd 29-May-24
640 Winro Commercial (India) Ltd 29-May-24
641 Womancart Ltd 29-May-24
642 Worth Investment & Trading Company Ltd 29-May-24
643 Yamini Investment Company Ltd 29-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 39

Please do your own due diligence before making any investment decisions.
 29th May 2024
644 Yash Optics & Lens Ltd 29-May-24
645 Yunik Managing Advisors Ltd 29-May-24
646 Yuvraaj Hygiene Products Ltd 29-May-24
647 Zenith Drugs Ltd 29-May-24
648 Zenith Health Care Ltd 29-May-24
649 Zota Health Care Ltd 29-May-24
650 Zuari Industries Ltd 29-May-24
651 A D S Diagnostic Ltd 30-May-24
652 A G Universal Ltd 30-May-24
653 A K Spintex Ltd 30-May-24
654 Aanchal Ispat Ltd 30-May-24
655 Aarey Drugs & Pharmaceuticals Ltd 30-May-24
656 Aartech Solonics Ltd 30-May-24
657 Aashka Hospitals Ltd 30-May-24
658 Aayush Food And Herbs Ltd 30-May-24
659 Abhinav Leasing & Finance Ltd 30-May-24
660 Accord Synergy Ltd 30-May-24
661 Ace Software Exports Ltd 30-May-24
662 ACS Technologies Ltd 30-May-24
663 Active Clothing Co Ltd 30-May-24
664 Adarsh Mercantile Ltd 30-May-24
665 Aditya Ispat Ltd 30-May-24
666 Advait Infratech Ltd 30-May-24
667 Advance Lifestyles Ltd 30-May-24
668 Advance Syntex Ltd 30-May-24
669 Affordable Robotic & Automation Ltd 30-May-24
670 Ajanta Soya Ltd 30-May-24
671 Ajel Ltd 30-May-24
672 AJR Infra & Tolling Ltd 30-May-24
673 Akash Infraprojects Ltd 30-May-24
674 AKM Creations Ltd 30-May-24
675 Alfa Ica (India) Ltd 30-May-24
676 Alfavision Overseas (India) Ltd 30-May-24
677 Algoquant Fintech Ltd 30-May-24
678 Alka India Ltd 30-May-24
679 Alka Securities Ltd 30-May-24
680 Alkosign Ltd 30-May-24
681 Amarnath Securities Ltd 30-May-24
682 Ambani Organics Ltd 30-May-24
683 Ambar Protein Industries Ltd 30-May-24
684 Ambassador Intra Holdings Ltd 30-May-24
685 Ambitious Plastomac Company Ltd 30-May-24
686 Ambo Agritec Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 40

Please do your own due diligence before making any investment decisions.
 29th May 2024
687 Amco India Ltd 30-May-24
688 Amic Forging Ltd 30-May-24
689 Amin Tannery Ltd 30-May-24
690 Amit International Ltd 30-May-24
691 Amit Spinning Industries Ltd 30-May-24
692 Amrapali Industries Ltd 30-May-24
693 Anand Projects Ltd 30-May-24
694 ANG Lifesciences India Ltd 30-May-24
695 Anik Industries Ltd 30-May-24
696 Anjani Synthetics Ltd 30-May-24
697 Anka India Ltd 30-May-24
698 Annapurna Swadisht Ltd 30-May-24
699 ANS Industries Ltd 30-May-24
700 Ansal Buildwell Ltd 30-May-24
701 Antariksh Industries Ltd 30-May-24
702 Anupam Finserv Ltd 30-May-24
703 Anuroop Packaging Ltd 30-May-24
704 Apis India Ltd 30-May-24
705 Aplab Ltd 30-May-24
706 Apollo Hospitals Enterprise Ltd 30-May-24
707 Archana Software Ltd 30-May-24
708 Archidply Decor Ltd 30-May-24
709 Archit Organosys Ltd 30-May-24
710 Arcotech Ltd 30-May-24
711 Ardi Investments & Trading Company Ltd 30-May-24
712 Arihant Foundations & Housing Ltd 30-May-24
713 Arihant Institute Ltd 30-May-24
714 Arman Holdings Ltd 30-May-24
715 Arnold Holdings Ltd 30-May-24
716 Arshiya Ltd 30-May-24
717 Artemis Electricals & Projects Ltd 30-May-24
718 Arunjyoti Bio Ventures Ltd 30-May-24
719 Ashiana Ispat Ltd 30-May-24
720 Ashnoor Textile Mills Ltd 30-May-24
721 Asia Pack Ltd 30-May-24
722 Asian Flora Ltd 30-May-24
723 Asian Petroproducts & Exports Ltd 30-May-24
724 Asian Tea & Exports Ltd 30-May-24
725 Aspire & Innovative Advertising Ltd 30-May-24
726 Associated Ceramics Ltd 30-May-24
727 Atharv Enterprises Ltd 30-May-24
728 Athena Global Technologies Ltd 30-May-24
729 Auro Impex & Chemicals Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 41

Please do your own due diligence before making any investment decisions.
 29th May 2024
730 Austin Engineering Company Ltd 30-May-24
731 Authum Investment & Infrastructure Ltd 30-May-24
732 Autoriders International Ltd 30-May-24
733 Available Finance Ltd 30-May-24
734 Avasara Finance Ltd 30-May-24
735 AVI Polymers Ltd 30-May-24
736 AVI Products India Ltd 30-May-24
737 Aviva Industries Ltd 30-May-24
738 Avonmore Capital & Management Services Ltd 30-May-24
739 AVSL Industries Ltd 30-May-24
740 AYM Syntex Ltd 30-May-24
741 B&B Triplewall Containers Ltd 30-May-24
742 [Link] & Sons Ltd 30-May-24
743 Baheti Recycling Industries Ltd 30-May-24
744 Balaji Telefilms Ltd 30-May-24
745 Banas Finance Ltd 30-May-24
746 Bang Overseas Ltd 30-May-24
747 Banka Bioloo Ltd 30-May-24
748 Bansal Multiflex Ltd 30-May-24
749 Bansisons Tea Industries Ltd 30-May-24
750 Barak Valley Cements Ltd 30-May-24
751 Baroda Extrusion Ltd 30-May-24
752 Baroda Rayon Corporation Ltd 30-May-24
753 Basant Agro Tech (India) Ltd 30-May-24
754 Baweja Studios Ltd 30-May-24
755 Bazel International Ltd 30-May-24
756 Beekay Niryat Ltd 30-May-24
757 Beekay Steel Industries Ltd 30-May-24
758 Bemco Hydraulics Ltd 30-May-24
759 Benara Bearings & Pistons Ltd 30-May-24
760 Bengal & Assam Company Ltd 30-May-24
761 Bengal Tea & Fabrics Ltd 30-May-24
762 Beryl Drugs Ltd 30-May-24
763 Betex India Ltd 30-May-24
764 BF Investment Ltd 30-May-24
765 BF Utilities Ltd 30-May-24
766 BGR Energy Systems Ltd 30-May-24
767 Bhagawati Oxygen Ltd 30-May-24
768 Bhakti Gems & Jewellery Ltd 30-May-24
769 Bhanderi Infracon Ltd 30-May-24
770 Bharat Agri Fert & Realty Ltd 30-May-24
771 Bharat Dynamics Ltd 30-May-24
772 Bharat Textiles & Proofing Industries Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 42

Please do your own due diligence before making any investment decisions.
 29th May 2024
773 Bhaskar Agrochemicals Ltd 30-May-24
774 Bhudevi Infra Projects Ltd 30-May-24
775 Bijoy Hans Ltd 30-May-24
776 Binayaka Tex Processors Ltd 30-May-24
777 Binny Mills Ltd 30-May-24
778 Biofil Chemicals & Pharmaceuticals Ltd 30-May-24
779 BKM Industries Ltd 30-May-24
780 Black Box Ltd 30-May-24
781 Bloom Dekor Ltd 30-May-24
782 BLS Infotech Ltd 30-May-24
783 Bodhi Tree Multimedia Ltd 30-May-24
784 Bombay Talkies Ltd 30-May-24
785 Boston Bio Systems Ltd 30-May-24
786 Bothra Metals & Alloys Ltd 30-May-24
787 Brahmaputra Infrastructure Ltd 30-May-24
788 Brandbucket Media & Technology Ltd 30-May-24
789 Bright Solar Ltd 30-May-24
790 Brijlaxmi Leasing & Finance Ltd 30-May-24
791 C J Gelatine Products Ltd 30-May-24
792 Calcom Vision Ltd 30-May-24
793 California Software Company Ltd 30-May-24
794 Cambridge Technology Enterprises Ltd 30-May-24
795 Candour Techtex Ltd 30-May-24
796 Caspian Corporate Services Ltd 30-May-24
797 Cat Technologies Ltd 30-May-24
798 CCL International Ltd 30-May-24
799 Ceeta Industries Ltd 30-May-24
800 Celestial Biolabs Ltd 30-May-24
801 Cenlub Industries Ltd 30-May-24
802 Century Extrusions Ltd 30-May-24
803 CES Ltd 30-May-24
804 Chadha Papers Ltd 30-May-24
805 Chambal Breweries & Distilleries Ltd 30-May-24
806 Chandra Bhagat Pharma Ltd 30-May-24
807 Chennai Meenakshi Multispeciality Hospital Ltd 30-May-24
808 Chothani Foods Ltd 30-May-24
809 Chrome Silicon Ltd 30-May-24
810 Cian Healthcare Ltd 30-May-24
811 Cindrella Financial Services Ltd 30-May-24
812 Cindrella Hotels Ltd 30-May-24
813 Cinevista Ltd 30-May-24
814 City Crops Agro Ltd 30-May-24
815 City Online Services Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 43

Please do your own due diligence before making any investment decisions.
 29th May 2024
816 Cityman Ltd 30-May-24
817 Classic Electricals Ltd 30-May-24
818 CLC Industries Ltd 30-May-24
819 Command Polymers Ltd 30-May-24
820 Competent Automobiles Company Ltd 30-May-24
821 Computer Point Ltd 30-May-24
822 Comrade Appliances Ltd 30-May-24
823 Conart Engineers Ltd 30-May-24
824 Concord Drugs Ltd 30-May-24
825 Confidence Petroleum India Ltd 30-May-24
826 Consecutive Investments & Trading Co Ltd 30-May-24
827 Contil India Ltd 30-May-24
828 Continental Controls Ltd 30-May-24
829 Continental Petroleums Ltd 30-May-24
830 COSCO (India) Ltd 30-May-24
831 Cospower Engineering Ltd 30-May-24
832 Country Club Hospitality & Holidays Ltd 30-May-24
833 Country Condos Ltd 30-May-24
834 Crane Infrastructure Ltd 30-May-24
835 Cranes Software International Ltd 30-May-24
836 Cranex Ltd 30-May-24
837 Crayons Advertising Ltd 30-May-24
838 Creative Eye Ltd 30-May-24
839 Credent Global Finance Ltd 30-May-24
840 Credo Brands Marketing Ltd 30-May-24
841 Croissance Ltd 30-May-24
842 CRP Risk Management Ltd 30-May-24
843 Cupid Trades & Finance Ltd 30-May-24
844 D P Wires Ltd 30-May-24
845 D S Kulkarni Developers Ltd 30-May-24
846 Debock Industries Ltd 30-May-24
847 Deccan Gold Mines Ltd 30-May-24
848 Decipher Labs Ltd 30-May-24
849 Deep Polymers Ltd 30-May-24
850 Deepak Chemtex Ltd 30-May-24
851 Delta Industrial Resources Ltd 30-May-24
852 Destiny Logistics & Infra Ltd 30-May-24
853 Dhampure Speciality Sugars Ltd 30-May-24
854 Dhanashree Electronics Ltd 30-May-24
855 Dhanuka Realty Ltd 30-May-24
856 Dharmaj Crop Guard Ltd 30-May-24
857 Dhatre Udyog Ltd 30-May-24
858 Dhruva Capital Services Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 44

Please do your own due diligence before making any investment decisions.
 29th May 2024
859 Dhyaani Tradeventtures Ltd 30-May-24
860 Diamant Infrastructure Ltd 30-May-24
861 Diksha Greens Ltd 30-May-24
862 Diligent Media Corporation Ltd 30-May-24
863 Dishman Carbogen Amcis Ltd 30-May-24
864 Docmode Health Technologies Ltd 30-May-24
865 Dollex Agrotech Ltd 30-May-24
866 Dr Lalchandani Labs Ltd 30-May-24
867 DSJ Keep Learning Ltd 30-May-24
868 Ducon Infratechnologies Ltd 30-May-24
869 Duke Offshore Ltd 30-May-24
870 Duropack Ltd 30-May-24
871 Dynacons Systems & Solutions Ltd 30-May-24
872 Dynemic Products Ltd 30-May-24
873 Earthstahl & Alloys Ltd 30-May-24
874 Eastcoast Steel Ltd 30-May-24
875 Eastern Logica Infoway Ltd 30-May-24
876 Eastern Silk Industries Ltd 30-May-24
877 Edvenswa Enterprises Ltd 30-May-24
878 Ekam Leasing And Finance Co Ltd 30-May-24
879 E-Land Apparel Ltd 30-May-24
880 Electro Force (India) Ltd 30-May-24
881 Elgi Rubber Company Ltd 30-May-24
882 Elpro International Ltd 30-May-24
883 Emami Realty Ltd 30-May-24
884 Emerald Leisures Ltd 30-May-24
885 Emergent Industrial Solutions Ltd 30-May-24
886 Emmforce Autotech Ltd 30-May-24
887 Encash Entertainment Ltd 30-May-24
888 Encode Packaging India Ltd 30-May-24
889 Espire Hospitality Ltd 30-May-24
890 Esquire Money Guarantees Ltd 30-May-24
891 Explicit Finance Ltd 30-May-24
892 Faalcon Concepts Ltd 30-May-24
893 Facor Alloys Ltd 30-May-24
894 Felix Industries Ltd 30-May-24
895 Filatex Fashions Ltd 30-May-24
896 Filtron Engineers Ltd 30-May-24
897 First Custodian Fund(I) Ltd 30-May-24
898 First Fintec Ltd 30-May-24
899 Fischer Chemic Ltd 30-May-24
900 Flexituff Ventures International Ltd 30-May-24
901 Fluidomat Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 45

Please do your own due diligence before making any investment decisions.
 29th May 2024
902 Foce India Ltd 30-May-24
903 Focus Business Solution Ltd 30-May-24
904 Fone4 Communications (India) Ltd 30-May-24
905 Fortune International Ltd 30-May-24
906 Fourth Generation Information Systems Ltd 30-May-24
907 Fraser and Company Ltd 30-May-24
908 Frontline Corporation Ltd 30-May-24
909 Frontline Financial Services Ltd 30-May-24
910 G G Dandekar Properties Ltd 30-May-24
911 G K Consultants Ltd 30-May-24
912 G R Cables Ltd 30-May-24
913 G S Auto International Ltd 30-May-24
914 G V Films Ltd 30-May-24
915 Gabriel Pet Straps Ltd 30-May-24
916 Gagan Gases Ltd 30-May-24
917 Gajanan Securities Services Ltd 30-May-24
918 Galada Power & Telecommunication Ltd 30-May-24
919 Ganesh Benzoplast Ltd 30-May-24
920 Ganesh Holdings Ltd 30-May-24
921 Ganesha Ecoverse Ltd 30-May-24
922 Ganon Products Ltd 30-May-24
923 Garbi Finvest Ltd 30-May-24
924 Garg Furnace Ltd 30-May-24
925 Garnet Construction Ltd 30-May-24
926 Garnet International Ltd 30-May-24
927 Garodia Chemical Ltd 30-May-24
928 Garware Synthetics Ltd 30-May-24
929 Gateway Distriparks Ltd 30-May-24
930 Gautam Gems Ltd 30-May-24
931 Gconnect Logitech & Supply Chain Ltd 30-May-24
932 GEE Ltd 30-May-24
933 Geetanjali Credit and Capital Ltd 30-May-24
934 Generic Engineering Construction & Projects Ltd 30-May-24
935 Genesys International Corporation Ltd 30-May-24
936 Gennex Laboratories Ltd 30-May-24
937 Gian Lifecare Ltd 30-May-24
938 Giriraj Civil Developers Ltd 30-May-24
939 GKB Ophthalmics Ltd 30-May-24
940 Glittek Granites Ltd 30-May-24
941 Globe Commercials Ltd 30-May-24
942 Globe International Carriers Ltd 30-May-24
943 Gloster Ltd 30-May-24
944 Godavari Drugs Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 46

Please do your own due diligence before making any investment decisions.
 29th May 2024
945 Godfrey Phillips India Ltd 30-May-24
946 Goel Food Products Ltd 30-May-24
947 Goenka Diamond & Jewels Ltd 30-May-24
948 Gold Rock Investments Ltd 30-May-24
949 Golden Carpets Ltd 30-May-24
950 Gorani Industries Ltd 30-May-24
951 Goyal Associates Ltd 30-May-24
952 Grandma Trading & Agencies Ltd 30-May-24
953 Gratex Industries Ltd 30-May-24
954 Graviss Hospitality Ltd 30-May-24
955 Greenhitech Ventures Ltd 30-May-24
956 Grill Splendour Services Ltd 30-May-24
957 Groarc Industries India Ltd 30-May-24
958 GSB Finance Ltd 30-May-24
959 GSS Infotech Ltd 30-May-24
960 G-Tech Info Training Ltd 30-May-24
961 Gujarat Alkalies & Chemicals Ltd 30-May-24
962 Gujarat Apollo Industries Ltd 30-May-24
963 Gujarat Natural Resources Ltd 30-May-24
964 Halder Venture Ltd 30-May-24
965 Hanman Fit Ltd 30-May-24
966 Hardwyn India Ltd 30-May-24
967 Haria Apparels Ltd 30-May-24
968 Haria Exports Ltd 30-May-24
969 Harish Textile Engineers Ltd 30-May-24
970 Hariyana Ship Breakers Ltd 30-May-24
971 Haryana Financial Corporation Ltd 30-May-24
972 Hasti Finance Ltd 30-May-24
973 Heera Ispat Ltd 30-May-24
974 Helpage Finlease Ltd 30-May-24
975 Hem Holdings & Trading Ltd 30-May-24
976 Hiliks Technologies Ltd 30-May-24
977 Hilton Metal Forging Ltd 30-May-24
978 Him Teknoforge Ltd 30-May-24
979 Hinduja Global Solutions Ltd 30-May-24
980 Hindustan Adhesives Ltd 30-May-24
981 Hindustan Agrigenetics Ltd 30-May-24
982 Hindustan Appliances Ltd 30-May-24
983 Hira Automobile Ltd 30-May-24
984 Hisar Metal Industries Ltd 30-May-24
985 Hisar Spinning Mills Ltd 30-May-24
986 Hittco Tools Ltd 30-May-24
987 HMA Agro Industries Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 47

Please do your own due diligence before making any investment decisions.
 29th May 2024
988 Housing Development & Infrastructure Ltd 30-May-24
989 HRH Next Services Ltd 30-May-24
990 Humming Bird Education Ltd 30-May-24
991 IITL Projects Ltd 30-May-24
992 IM+ Capitals Ltd 30-May-24
993 IMEC Services Ltd 30-May-24
994 India Infraspace Ltd 30-May-24
995 India Nippon Electricals Ltd 30-May-24
996 India Pesticides Ltd 30-May-24
997 Indian Emulsifiers Ltd 30-May-24
998 Indian Infotech and Software Ltd 30-May-24
999 Indian Sucrose Ltd 30-May-24
1000 Inditalia Refcon Ltd 30-May-24
1001 Inditrade Capital Ltd 30-May-24
1002 Indokem Ltd 30-May-24
1003 Indong Tea Company Ltd 30-May-24
1004 Indoworth Holdings Ltd 30-May-24
1005 Indrayani Biotech Ltd 30-May-24
1006 Inducto Steel Ltd 30-May-24
1007 Industrial Investment Trust Ltd 30-May-24
1008 Informed Technologies India Ltd 30-May-24
1009 Innokaiz India Ltd 30-May-24
1010 Innovative Ideals and Services India Ltd 30-May-24
1011 Innovative Tech Pack Ltd 30-May-24
1012 Innovative Tyres & Tubes Ltd 30-May-24
1013 Integra Engineering India Ltd 30-May-24
1014 Integrated Capital Services Ltd 30-May-24
1015 Integrated Thermoplastics Ltd 30-May-24
1016 Intellivate Capital Ventures Ltd 30-May-24
1017 International Combustion (India) Ltd 30-May-24
1018 Interworld Digital Ltd 30-May-24
1019 ISF Ltd 30-May-24
1020 Ishaan Infrastructure & Shelters Ltd 30-May-24
1021 Ishan Dyes & chemicals Ltd 30-May-24
1022 Ishita Drugs & Industries Ltd 30-May-24
1023 Ishwarshakti Holdings & Traders Ltd 30-May-24
1024 Italian Edibles Ltd 30-May-24
1025 ITCONS E-Solutions Ltd 30-May-24
1026 ITL Industries Ltd 30-May-24
1027 Iykot Hitech Toolroom Ltd 30-May-24
1028 IZMO Ltd 30-May-24
1029 Jackson Investments Ltd 30-May-24
1030 Jagan Lamps Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 48

Please do your own due diligence before making any investment decisions.
 29th May 2024
1031 Jagsonpal Finance & Leasing Ltd 30-May-24
1032 Jainco Projects (India) Ltd 30-May-24
1033 Jainex Aamcol Ltd 30-May-24
1034 Jaipan Industries Ltd 30-May-24
1035 Jasch Gauging Technologies Ltd 30-May-24
1036 Jasch Industries Ltd 30-May-24
1037 Jattashankar Industries Ltd 30-May-24
1038 Jauss Polymers Ltd 30-May-24
1039 Jay Kailash Namkeen Ltd 30-May-24
1040 JBF Industries Ltd 30-May-24
1041 Jeet Machine Tools Ltd 30-May-24
1042 Jeevan Scientific Technology Ltd 30-May-24
1043 Jhaveri Credits & Capital Ltd 30-May-24
1044 Jindal Cotex Ltd 30-May-24
1045 JITF Infra Logistics Ltd 30-May-24
1046 Jiwanram Sheoduttrai Industries Ltd 30-May-24
1047 JNK India Ltd 30-May-24
1048 Jointeca Education Solutions Ltd 30-May-24
1049 Jolly Plastic Industries Ltd 30-May-24
1050 JTEKT India Ltd 30-May-24
1051 Julien Agro Infratech Ltd 30-May-24
1052 Jumbo Finance Ltd 30-May-24
1053 Jyot International Marketing Ltd 30-May-24
1054 K Z Leasing & Finance Ltd 30-May-24
1055 Kaarya Facilities & Services Ltd 30-May-24
1056 Kabra Commercial Ltd 30-May-24
1057 Kabra Drugs Ltd 30-May-24
1058 Kahan Packaging Ltd 30-May-24
1059 Kaiser Corporation Ltd 30-May-24
1060 Kaizen Agro Infrabuild Ltd 30-May-24
1061 Kalahridhaan Trendz Ltd 30-May-24
1062 Kalpa Commercial Ltd 30-May-24
1063 Kalyani Forge Ltd 30-May-24
1064 Kalyani Investment Company Ltd 30-May-24
1065 Kamanwala Housing Construction Ltd 30-May-24
1066 Kanani Industries Ltd 30-May-24
1067 Kanco Tea & Industries Ltd 30-May-24
1068 Kandarp Digi Smart BPO Ltd 30-May-24
1069 Kanoria Energy & Infrastructure Ltd 30-May-24
1070 Kanungo Financiers Ltd 30-May-24
1071 Kapil Cotex Ltd 30-May-24
1072 Karnimata Cold Storage Ltd 30-May-24
1073 Katare Spinning Mills Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 49

Please do your own due diligence before making any investment decisions.
 29th May 2024
1074 Kaushalya Infrastructure Development Corpn Ltd 30-May-24
1075 Kaushalya Logistics Ltd 30-May-24
1076 Kavveri Telecom Products Ltd 30-May-24
1077 KBS India Ltd 30-May-24
1078 KCD Industries India Ltd 30-May-24
1079 KCK Industries Ltd 30-May-24
1080 Kellton Tech Solutions Ltd 30-May-24
1081 KEN Financial Services Ltd 30-May-24
1082 Kenvi Jewels Ltd 30-May-24
1083 Kernex Microsystems (India) Ltd 30-May-24
1084 Kewal Kiran Clothing Ltd 30-May-24
1085 Keynote Financial Services Ltd 30-May-24
1086 KHFM Hospitality & Facility Mgt. Services Ltd 30-May-24
1087 Khyati Multimedia Entertainment Ltd 30-May-24
1088 Kimia Biosciences Ltd 30-May-24
1089 Kinetic Engineering Ltd 30-May-24
1090 Kings Infra Ventures Ltd 30-May-24
1091 Kiran Print Pack Ltd 30-May-24
1092 Kiri Industries Ltd 30-May-24
1093 KMF Builders & Developers Ltd 30-May-24
1094 KMS Medisurgi Ltd 30-May-24
1095 KN Agri Resources Ltd 30-May-24
1096 Kobo Biotech Ltd 30-May-24
1097 Konark Synthetic Ltd 30-May-24
1098 Konndor Industries Ltd 30-May-24
1099 Kothari Fermentation & Biochem Ltd 30-May-24
1100 Kotia Enterprises Ltd 30-May-24
1101 Krypton Industries Ltd 30-May-24
1102 KSS Ltd 30-May-24
1103 Kundan Edifice Ltd 30-May-24
1104 Kuwer Industries Ltd 30-May-24
1105 La Opala RG Ltd 30-May-24
1106 Lactose (India) Ltd 30-May-24
1107 Lasa Supergenerics Ltd 30-May-24
1108 Lead Reclaim and Rubber Products Ltd 30-May-24
1109 Lehar Footwears Ltd 30-May-24
1110 Libas Consumer Products Ltd 30-May-24
1111 Lime Chemicals Ltd 30-May-24
1112 Lippi Systems Ltd 30-May-24
1113 Longspur International Ventures Ltd 30-May-24
1114 Looks Health Services Ltd 30-May-24
1115 LS Industries Ltd 30-May-24
1116 Lux Industries Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 50

Please do your own due diligence before making any investment decisions.
 29th May 2024
1117 Lynx Machinery & Commercials Ltd 30-May-24
1118 M Lakhamsi Industries Ltd 30-May-24
1119 M P Agro Industries Ltd 30-May-24
1120 M.V.K. Agro Food Product Ltd 30-May-24
1121 Maan Aluminium Ltd 30-May-24
1122 Mac Hotels Ltd 30-May-24
1123 Madhur Industries Ltd 30-May-24
1124 Madhya Pradesh Today Media Ltd 30-May-24
1125 Magnanimous Trade & Finance Ltd 30-May-24
1126 Magson Retail and Distribution Ltd 30-May-24
1127 Mahesh Developers Ltd 30-May-24
1128 Maheshwari Logistics Ltd 30-May-24
1129 Maiden Forgings Ltd 30-May-24
1130 Maitri Enterprises Ltd 30-May-24
1131 Manbro Industries Ltd 30-May-24
1132 Mangalam Alloys Ltd 30-May-24
1133 Mangalam Organics Ltd 30-May-24
1134 Mangalya Soft-Tech Ltd 30-May-24
1135 Manipal Finance Corporation Ltd 30-May-24
1136 Manoj Ceramic Ltd 30-May-24
1137 Manoj Vaibhav Gems N Jewellers Ltd 30-May-24
1138 Mardia Samyoung Capillary Tubes Company Ltd 30-May-24
1139 Marg Techno-Projects Ltd 30-May-24
1140 Marinetrans India Ltd 30-May-24
1141 Markolines Pavement Technologies Ltd 30-May-24
1142 Marksans Pharma Ltd 30-May-24
1143 Marsons Ltd 30-May-24
1144 Maruti Infrastructure Ltd 30-May-24
1145 Maruti Securities Ltd 30-May-24
1146 Marvel Decor Ltd 30-May-24
1147 Master Chemicals Ltd 30-May-24
1148 Master Trust Ltd 30-May-24
1149 MBL Infrastructure Ltd 30-May-24
1150 Mcleod Russel India Ltd 30-May-24
1151 Meera Industries Ltd 30-May-24
1152 Mercury EV-Tech Ltd 30-May-24
1153 Mewar Hi-Tech Engineering Ltd 30-May-24
1154 MFL India Ltd 30-May-24
1155 MFS Intercorp Ltd 30-May-24
1156 Micropro Software Solutions Ltd 30-May-24
1157 Midland Polymers Ltd 30-May-24
1158 Milkfood Ltd 30-May-24
1159 Millennium Online Solutions (India) Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 51

Please do your own due diligence before making any investment decisions.
 29th May 2024
1160 Milton Industries Ltd 30-May-24
1161 Minal Industries Ltd 30-May-24
1162 Minolta Finance Ltd 30-May-24
1163 Misquita Engineering Ltd 30-May-24
1164 MKVentures Capital Ltd 30-May-24
1165 Modern Denim Ltd 30-May-24
1166 Modern Insulators Ltd 30-May-24
1167 Modern Threads (I) Ltd 30-May-24
1168 Modi Naturals Ltd 30-May-24
1169 Modulex Construction Technologies Ltd 30-May-24
1170 Mold-Tek Packaging Ltd 30-May-24
1171 Money Masters Leasing & Finance Ltd 30-May-24
1172 Monind Ltd 30-May-24
1173 Mono Pharmacare Ltd 30-May-24
1174 Mount Housing & Infrastructure Ltd 30-May-24
1175 MPDL Ltd 30-May-24
1176 MPS Pharmaa Ltd 30-May-24
1177 MRC Agrotech Ltd 30-May-24
1178 Mrs Bectors Food Specialities Ltd 30-May-24
1179 Mudunuru Ltd 30-May-24
1180 Multipurpose Trading & Agencies Ltd 30-May-24
1181 Murae Organisor Ltd 30-May-24
1182 Muthoot Finance Ltd 30-May-24
1183 Muzali Arts Ltd 30-May-24
1184 MV Cotspin Ltd 30-May-24
1185 My Money Securities Ltd 30-May-24
1186 N D Metal Industries Ltd 30-May-24
1187 N2N Technologies Ltd 30-May-24
1188 Naapbooks Ltd 30-May-24
1189 NACL Industries Ltd 30-May-24
1190 Nagarjuna Agri Tech Ltd 30-May-24
1191 Nagpur Power & Industries Ltd 30-May-24
1192 Nagreeka Exports Ltd 30-May-24
1193 Nahar Industrial Enterprises Ltd 30-May-24
1194 Nam Securities Ltd 30-May-24
1195 Nanavati Ventures Ltd 30-May-24
1196 Narmada Macplast Drip Irrigation Systems Ltd 30-May-24
1197 Nath Industries Ltd 30-May-24
1198 National Fertilizer Ltd 30-May-24
1199 National General Industries Ltd 30-May-24
1200 Natural Biocon (India) Ltd 30-May-24
1201 Naturo Indiabull Ltd 30-May-24
1202 Neelkanth Rockminerals Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 52

Please do your own due diligence before making any investment decisions.
 29th May 2024
1203 Neeraj Paper Marketing Ltd 30-May-24
1204 Neogem India Ltd 30-May-24
1205 Net Pix Shorts Digital Media Ltd 30-May-24
1206 New Light Apparels Ltd 30-May-24
1207 New Swan Multitech Ltd 30-May-24
1208 Newjaisa Technologies Ltd 30-May-24
1209 Newtime Infrastructure Ltd 30-May-24
1210 Nexus Surgical and Medicare Ltd 30-May-24
1211 Nihar Info Global Ltd 30-May-24
1212 Nilachal Refractories Ltd 30-May-24
1213 NILE Ltd 30-May-24
1214 Nimbus Projects Ltd 30-May-24
1215 Nirmitee Robotics India Ltd 30-May-24
1216 Niwas Spinning Mills Ltd 30-May-24
1217 NMS Global Ltd 30-May-24
1218 North Eastern Carrying Corporation Ltd 30-May-24
1219 Novateor Research Laboratories Ltd 30-May-24
1220 NPR Finance Ltd 30-May-24
1221 NTC Industries Ltd 30-May-24
1222 Nupur Recyclers Ltd 30-May-24
1223 Nyssa Corporation Ltd 30-May-24
1224 O.P Chains Ltd 30-May-24
1225 Oasis Tradelink Ltd 30-May-24
1226 Objectone Information Systems Ltd 30-May-24
1227 Octaware Technologies Ltd 30-May-24
1228 Olympic Oil Industries Ltd 30-May-24
1229 Omega Interactive Technologies Ltd 30-May-24
1230 Omkar Pharmachem Ltd 30-May-24
1231 Omni Ax's Software Ltd 30-May-24
1232 Omnipotent Industries Ltd 30-May-24
1233 Omnitex Industries (India) Ltd 30-May-24
1234 One Global Service Provider Ltd 30-May-24
1235 Onelife Capital Advisors Ltd 30-May-24
1236 Onesource Ideas Venture Ltd 30-May-24
1237 Oricon Enterprises Ltd 30-May-24
1238 Orient Beverages Ltd 30-May-24
1239 Orient Tradelink Ltd 30-May-24
1240 Oriental Trimex Ltd 30-May-24
1241 Orissa Bengal Carrier Ltd 30-May-24
1242 Ortin Laboratories Ltd 30-May-24
1243 Osia Hyper Retail Ltd 30-May-24
1244 Oswal Overseas Ltd 30-May-24
1245 Ovobel Foods Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 53

Please do your own due diligence before making any investment decisions.
 29th May 2024
1246 Oxygenta Pharmaceutical Ltd 30-May-24
1247 P B A Infrastructure Ltd 30-May-24
1248 P.M. Telelinnks Ltd 30-May-24
1249 Pacheli Industrial Finance Ltd 30-May-24
1250 Padam Cotton Yarns Ltd 30-May-24
1251 Padmalaya Telefilms Ltd 30-May-24
1252 Padmanabh Industries Ltd 30-May-24
1253 Pakka Ltd 30-May-24
1254 Palco Metals Ltd 30-May-24
1255 Panacea Biotec Ltd 30-May-24
1256 Panafic Industrials Ltd 30-May-24
1257 Panorama Studios International Ltd 30-May-24
1258 Panth Infinity Ltd 30-May-24
1259 Parmax Pharma Ltd 30-May-24
1260 Parnax Lab Ltd 30-May-24
1261 Parshwanath Corporation Ltd 30-May-24
1262 Parsvnath Developers Ltd 30-May-24
1263 Patidar Buildcon Ltd 30-May-24
1264 Pavna Industries Ltd 30-May-24
1265 PB Global Ltd 30-May-24
1266 PC Jeweller Ltd 30-May-24
1267 Pearl Green Clubs and Resorts Ltd 30-May-24
1268 Peeti Securities Ltd 30-May-24
1269 Perfect-Octave Media Projects Ltd 30-May-24
1270 Pet Plastics Ltd 30-May-24
1271 PFL Infotech Ltd 30-May-24
1272 PH Trading Ltd 30-May-24
1273 Phoenix International Ltd 30-May-24
1274 Phoenix Township Ltd 30-May-24
1275 Photon Capital Advisors Ltd 30-May-24
1276 Photoquip India Ltd 30-May-24
1277 Pioneer Investcorp Ltd 30-May-24
1278 Pithampur Poly Products Ltd 30-May-24
1279 Plaza Wires Ltd 30-May-24
1280 Polson Ltd 30-May-24
1281 Polycon International Ltd 30-May-24
1282 Polymac Thermoformers Ltd 30-May-24
1283 Polysil Irrigation Systems Ltd 30-May-24
1284 Polytex India Ltd 30-May-24
1285 Power & Instrumentation (Gujarat) Ltd 30-May-24
1286 Praj Industries Ltd 30-May-24
1287 Pramara Promotions Ltd 30-May-24
1288 Prashant India Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 54

Please do your own due diligence before making any investment decisions.
 29th May 2024
1289 Pratham EPC Projects Ltd 30-May-24
1290 Premier Capital Services Ltd 30-May-24
1291 Premier Explosives Ltd 30-May-24
1292 Pressure Sensitive Systems (India) Ltd 30-May-24
1293 Prima Agro Ltd 30-May-24
1294 Prima Industries Ltd 30-May-24
1295 Prime Focus Ltd 30-May-24
1296 Prime Industries Ltd 30-May-24
1297 Prime Property Development Corporation Ltd 30-May-24
1298 Primo Chemicals Ltd 30-May-24
1299 Prism Finance Ltd 30-May-24
1300 Priya Ltd 30-May-24
1301 Procal Electronics India Ltd 30-May-24
1302 Promax Power Ltd 30-May-24
1303 Prudential Sugar Corporation Ltd 30-May-24
1304 PTC India Ltd 30-May-24
1305 Pulz Electronics Ltd 30-May-24
1306 Punctual Trading Ltd 30-May-24
1307 Purple Entertainment Ltd 30-May-24
1308 Purv Flexipack Ltd 30-May-24
1309 Pyxis Finvest Ltd 30-May-24
1310 Quantum Digital Vision India Ltd 30-May-24
1311 Quint Digital Ltd 30-May-24
1312 R M Drip & Sprinklers Systems Ltd 30-May-24
1313 R O Jewels Ltd 30-May-24
1314 Raasi Refractories Ltd 30-May-24
1315 Rachana Infrastructure Ltd 30-May-24
1316 Radhagobind Commercial Ltd 30-May-24
1317 Radhe Developers (India) Ltd 30-May-24
1318 Radhika Jeweltech Ltd 30-May-24
1319 Raghunath International Ltd 30-May-24
1320 Rainbow Foundations Ltd 30-May-24
1321 Rajasthan Gases Ltd 30-May-24
1322 Rajath Finance Ltd 30-May-24
1323 Rajesh Exports Ltd 30-May-24
1324 Rama Paper Mills Ltd 30-May-24
1325 Rama Phosphates Ltd 30-May-24
1326 Rama Steel Tubes Ltd 30-May-24
1327 Rander Corporation Ltd 30-May-24
1328 Ranjit Securities Ltd 30-May-24
1329 Rapid Investments Ltd 30-May-24
1330 Rasi Electrodes Ltd 30-May-24
1331 Rathi Bars Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 55

Please do your own due diligence before making any investment decisions.
 29th May 2024
1332 Rathi Steel & Power Ltd 30-May-24
1333 Ratnabhumi Developers Ltd 30-May-24
1334 Raunaq International Ltd 30-May-24
1335 Ravi Leela Granites Ltd 30-May-24
1336 Regency Ceramics Ltd 30-May-24
1337 Reliable Data Services Ltd 30-May-24
1338 Reliance Capital Ltd 30-May-24
1339 Reliance Home Finance Ltd 30-May-24
1340 Reliance Infrastructure Ltd 30-May-24
1341 Relic Technologies Ltd 30-May-24
1342 Relson India Ltd 30-May-24
1343 Response Informatics Ltd 30-May-24
1344 Retina Paints Ltd 30-May-24
1345 Rex Sealing & Packing Industries Ltd 30-May-24
1346 Richa Info Systems Ltd 30-May-24
1347 Riddhi Corporate Services Ltd 30-May-24
1348 Ridhi Synthetics Ltd 30-May-24
1349 Rishabh Special Yarns Ltd 30-May-24
1350 Ritesh International Ltd 30-May-24
1351 RLF Ltd 30-May-24
1352 Roni Households Ltd 30-May-24
1353 Roopa Industries Ltd 30-May-24
1354 Roto Pumps Ltd 30-May-24
1355 ROX Hi-Tech Ltd 30-May-24
1356 Royal Sense Ltd 30-May-24
1357 RSC International Ltd 30-May-24
1358 RTCL Ltd 30-May-24
1359 Rudra Gas Enterprise Ltd 30-May-24
1360 S K International Export Ltd 30-May-24
1361 S R G Securities Finance Ltd 30-May-24
1362 S.A.L Steel Ltd 30-May-24
1363 S.M. Gold Ltd 30-May-24
1364 S.V. Trading & Agencies Ltd 30-May-24
1365 SAB Industries Ltd 30-May-24
1366 Sahaj Fashions Ltd 30-May-24
1367 Sahara Maritime Ltd 30-May-24
1368 Sai Capital Ltd 30-May-24
1369 Saianand Commercial Ltd 30-May-24
1370 Sakuma Exports Ltd 30-May-24
1371 Salasar Exteriors & Contour Ltd 30-May-24
1372 Salasar Techno Engineering Ltd 30-May-24
1373 Salguti Industries Ltd 30-May-24
1374 Sameera Agro and Infra Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 56

Please do your own due diligence before making any investment decisions.
 29th May 2024
1375 Sampre Nutritions Ltd 30-May-24
1376 Samrat Pharmachem Ltd 30-May-24
1377 Samyak International Ltd 30-May-24
1378 Sanchay Finvest Ltd 30-May-24
1379 Sanco Trans Ltd 30-May-24
1380 Sancode Technologies Ltd 30-May-24
1381 Sandu Pharmaceuticals Ltd 30-May-24
1382 Sangal Papers Ltd 30-May-24
1383 Sanginita Chemicals Ltd 30-May-24
1384 Sanrhea Technical Textile Ltd 30-May-24
1385 Sarup Industries Ltd 30-May-24
1386 Sarvamangal Mercantile Co. Ltd 30-May-24
1387 Sarvottam Finvest Ltd 30-May-24
1388 Sastasundar Ventures Ltd 30-May-24
1389 SBL Infratech Ltd 30-May-24
1390 Scintilla Commercial & Credit Ltd 30-May-24
1391 SDC Techmedia Ltd 30-May-24
1392 SecureKloud Technologies Ltd 30-May-24
1393 SEL Manufacturing Company Ltd 30-May-24
1394 Setco Automotive Ltd 30-May-24
1395 Seven Hill Industries Ltd 30-May-24
1396 Shah Alloys Ltd 30-May-24
1397 Shah Construction Company Ltd 30-May-24
1398 Shah Foods Ltd 30-May-24
1399 Shalimar Productions Ltd 30-May-24
1400 Shanti Educational Initiatives Ltd 30-May-24
1401 Shardul Securities Ltd 30-May-24
1402 Sharma East India Hosp and Medical Research Ltd 30-May-24
1403 Shashank Traders Ltd 30-May-24
1404 Shashijit Infraprojects Ltd 30-May-24
1405 Sheetal Universal Ltd 30-May-24
1406 Shikhar Consultants Ltd 30-May-24
1407 Shikhar Leasing & Trading Ltd 30-May-24
1408 Shirpur Gold Refinery Ltd 30-May-24
1409 Shiva Global Agro Industries Ltd 30-May-24
1410 Shiva Granito Export Ltd 30-May-24
1411 Shivansh Finserve Ltd 30-May-24
1412 Shradha AI Technologies Ltd 30-May-24
1413 Shradha Infraprojects Ltd 30-May-24
1414 Shree Bhavya Fabrics Ltd 30-May-24
1415 Shree Ganesh Biotech India Ltd 30-May-24
1416 Shree Ganesh Remedies Ltd 30-May-24
1417 Shree Krishna Paper Mills & Industries Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 57

Please do your own due diligence before making any investment decisions.
 29th May 2024
1418 Shree Marutinandan Tubes Ltd 30-May-24
1419 Shree Pacetronix Ltd 30-May-24
1420 Shree Ram Proteins Ltd 30-May-24
1421 Shree Securities Ltd 30-May-24
1422 Shree Tirupati Balajee FIBC Ltd 30-May-24
1423 Shreeoswal Seeds & Chemicals Ltd 30-May-24
1424 Shri Bajrang Alliance Ltd 30-May-24
1425 Shri Krishna Devcon Ltd 30-May-24
1426 Shubham Polyspin Ltd 30-May-24
1427 Sical Logistics Ltd 30-May-24
1428 Siddheswari Garments Ltd 30-May-24
1429 Sidh Automobiles Ltd 30-May-24
1430 Signet Industries Ltd 30-May-24
1431 Sikko Industries Ltd 30-May-24
1432 Silicon Rental Solutions Ltd 30-May-24
1433 Silver Oak (India) Ltd 30-May-24
1434 Simmonds Marshall Ltd 30-May-24
1435 Sindhu Trade Links Ltd 30-May-24
1436 Sita Enterprises Ltd 30-May-24
1437 Sky Gold Ltd 30-May-24
1438 Skyline Ventures India Ltd 30-May-24
1439 SMC Credits Ltd 30-May-24
1440 Smiths & Founders (India) Ltd 30-May-24
1441 SMVD Poly Pack Ltd 30-May-24
1442 Snowman Logistics Ltd 30-May-24
1443 Somi Conveyor Beltings Ltd 30-May-24
1444 Sonal Mercantile Ltd 30-May-24
1445 Sonalis Consumer Products Ltd 30-May-24
1446 Soni Medicare Ltd 30-May-24
1447 Sonu Infratech Ltd 30-May-24
1448 South India Paper Mills Ltd 30-May-24
1449 Southern Online Bio Technologies Ltd 30-May-24
1450 Sovereign Diamonds Ltd 30-May-24
1451 SPML Infra Ltd 30-May-24
1452 Springform Technology Ltd 30-May-24
1453 Square Four Projects India Ltd 30-May-24
1454 Sreechem Resins Ltd 30-May-24
1455 Srestha Finvest Ltd 30-May-24
1456 Sriven Multi-Tech Ltd 30-May-24
1457 SRM Contractors Ltd 30-May-24
1458 SSPN Finance Ltd 30-May-24
1459 Standard Batteries Ltd 30-May-24
1460 Standard Capital Markets Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 58

Please do your own due diligence before making any investment decisions.
 29th May 2024
1461 Standard Shoe Sole & Mould India Ltd 30-May-24
1462 Starcom Information Technology Ltd 30-May-24
1463 Starlineps Enterprises Ltd 30-May-24
1464 Starlog Enterprises Ltd 30-May-24
1465 Steel Strips Infrastructures Ltd 30-May-24
1466 Steelcast Ltd 30-May-24
1467 Steelman Telecom Ltd 30-May-24
1468 Stellar Capital Services Ltd 30-May-24
1469 Sterling Green Woods Ltd 30-May-24
1470 Storage Technologies & Automation Ltd 30-May-24
1471 Stratmont Industries Ltd 30-May-24
1472 Subhash Silk Mills Ltd 30-May-24
1473 Sudal Industries Ltd 30-May-24
1474 Suditi Industries Ltd 30-May-24
1475 Sueryaa Knitwear Ltd 30-May-24
1476 Sujala Trading & Holdings Ltd 30-May-24
1477 Sun Retail Ltd 30-May-24
1478 Suncity Synthetics Ltd 30-May-24
1479 Sunrise Efficient Marketing Ltd 30-May-24
1480 Sunteck Realty Ltd 30-May-24
1481 Super Bakers (India) Ltd 30-May-24
1482 Super Crop Safe Ltd 30-May-24
1483 Super Fine Knitters Ltd 30-May-24
1484 Super Tannery Ltd 30-May-24
1485 Superhouse Ltd 30-May-24
1486 Supertex Industries Ltd 30-May-24
1487 Supreme Engineering Ltd 30-May-24
1488 Suryavanshi Spinning Mills Ltd 30-May-24
1489 Suumaya Corporation Ltd 30-May-24
1490 Suven Pharmaceuticals Ltd 30-May-24
1491 Suvidhaa Infoserve Ltd 30-May-24
1492 Suyog Gurbaxani Funicular Ropeways Ltd 30-May-24
1493 Svam Software Ltd 30-May-24
1494 Svaraj Trading & Agencies Ltd 30-May-24
1495 SVP Global Textiles Ltd 30-May-24
1496 SVS Ventures Ltd 30-May-24
1497 Swan Energy Ltd 30-May-24
1498 Swaraj Suiting Ltd 30-May-24
1499 Swarna Securities Ltd 30-May-24
1500 Swasti Vinayaka Art & Heritage Corporation Ltd 30-May-24
1501 Swasti Vinayaka Synthetics Ltd 30-May-24
1502 Symbiox Investment & Trading Co Ltd 30-May-24
1503 Synthiko Foils Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 59

Please do your own due diligence before making any investment decisions.
 29th May 2024
1504 TAAL Enterprises Ltd 30-May-24
1505 Tahmar Enterprises Ltd 30-May-24
1506 Take Solutions Ltd 30-May-24
1507 Tamilnadu Steel Tubes Ltd 30-May-24
1508 Tanvi Foods (India) Ltd 30-May-24
1509 Tarini International Ltd 30-May-24
1510 Tarmat Ltd 30-May-24
1511 Tarsons Products Ltd 30-May-24
1512 TBO Tek Ltd 30-May-24
1513 Tejassvi Aaharam Ltd 30-May-24
1514 TeleCanor Global Ltd 30-May-24
1515 Tembo Global Industries Ltd 30-May-24
1516 Terai Tea Co Ltd 30-May-24
1517 Terraform Magnum Ltd 30-May-24
1518 Terraform Realstate Ltd 30-May-24
1519 TGIF Agribusiness Ltd 30-May-24
1520 Thakkers Developers Ltd 30-May-24
1521 Thakral Services (India) Ltd 30-May-24
1522 The Indian Wood Products Company Ltd 30-May-24
1523 The Ravalgaon Sugar Farm Ltd 30-May-24
1524 Thinkink Picturez Ltd 30-May-24
1525 Thirani Projects Ltd 30-May-24
1526 Thirdwave Financial Intermediaries Ltd 30-May-24
1527 Tirupati Fin-Lease Ltd 30-May-24
1528 Tirupati Sarjan Ltd 30-May-24
1529 TMT (I) Ltd 30-May-24
1530 Toyam Sports Ltd 30-May-24
1531 TPI India Ltd 30-May-24
1532 Tradewell Holdings Ltd 30-May-24
1533 Trans Freight Containers Ltd 30-May-24
1534 Transgene Biotek Ltd 30-May-24
1535 Transpact Enterprises Ltd 30-May-24
1536 Transwind Infrastructures Ltd 30-May-24
1537 Tranway Technologies Ltd 30-May-24
1538 [Link] Ltd 30-May-24
1539 Tricom Fruit Products Ltd 30-May-24
1540 Tridev InfraEstates Ltd 30-May-24
1541 Triliance Polymers Ltd 30-May-24
1542 Trio Mercantile & Trading Ltd 30-May-24
1543 Triton Valves Ltd 30-May-24
1544 Triveni Enterprises Ltd 30-May-24
1545 TTL Enterprises Ltd 30-May-24
1546 Tulive Developers Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 60

Please do your own due diligence before making any investment decisions.
 29th May 2024
1547 Tulsyan NEC Ltd 30-May-24
1548 Tyroon Tea Company Ltd 30-May-24
1549 U. H. Zaveri Ltd 30-May-24
1550 Udayshivakumar Infra Ltd 30-May-24
1551 UFM Industries Ltd 30-May-24
1552 Ujaas Energy Ltd 30-May-24
1553 Unick Fix-A-Form And Printers Ltd 30-May-24
1554 Unifinz Capital India Ltd 30-May-24
1555 Union Quality Plastics Ltd 30-May-24
1556 Unique Organics Ltd 30-May-24
1557 Uniroyal Marine Exports Ltd 30-May-24
1558 Unison Metals Ltd 30-May-24
1559 Unitech International Ltd 30-May-24
1560 United Leasing & Industries Ltd 30-May-24
1561 Universal Office Automation Ltd 30-May-24
1562 Uniworth International Ltd 30-May-24
1563 Uniworth Ltd 30-May-24
1564 Uniworth Textiles Ltd 30-May-24
1565 USG Tech Solutions Ltd 30-May-24
1566 V R Films & Studios Ltd 30-May-24
1567 V R Woodart Ltd 30-May-24
1568 V2 Retail Ltd 30-May-24
1569 Vaishali Pharma Ltd 30-May-24
1570 Vaishno Cement Co Ltd 30-May-24
1571 Valecha Engineering Ltd 30-May-24
1572 Valencia Nutrition Ltd 30-May-24
1573 Vantage Knowledge Academy Ltd 30-May-24
1574 Vapi Enterprise Ltd 30-May-24
1575 Variman Global Enterprises Ltd 30-May-24
1576 Vasa Retail and Overseas Ltd 30-May-24
1577 Vaxtex Cotfab Ltd 30-May-24
1578 VCU Data Management Ltd 30-May-24
1579 Vedant Asset Ltd 30-May-24
1580 Vedavaag Systems Ltd 30-May-24
1581 Veer Energy & Infrastructure Ltd 30-May-24
1582 Veer Global Infraconstruction Ltd 30-May-24
1583 Veerhealth Care Ltd 30-May-24
1584 Veerkrupa Jewellers Ltd 30-May-24
1585 Velox Industries Ltd 30-May-24
1586 Venlon Enterprises Ltd 30-May-24
1587 Ventura Guaranty Ltd 30-May-24
1588 Ventura Textiles Ltd 30-May-24
1589 Venus Remedies Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 61

Please do your own due diligence before making any investment decisions.
 29th May 2024
1590 Vertexplus Technologies Ltd 30-May-24
1591 Viceroy Hotels Ltd 30-May-24
1592 Vijay Solvex Ltd 30-May-24
1593 Vinayak Polycon International Ltd 30-May-24
1594 Vinny Overseas Ltd 30-May-24
1595 Vipul Ltd 30-May-24
1596 Vipul Organics Ltd 30-May-24
1597 Virat Crane Industries Ltd 30-May-24
1598 Virtualsoft Systems Ltd 30-May-24
1599 Virya Resources Ltd 30-May-24
1600 Visa Steel Ltd 30-May-24
1601 Visagar Financial Services Ltd 30-May-24
1602 Visesh Infotecnics Ltd 30-May-24
1603 Vishvprabha Ventures Ltd 30-May-24
1604 Vishwas Agri Seeds Ltd 30-May-24
1605 VJTF Eduservices Ltd 30-May-24
1606 Vruddhi Engineering Works Ltd 30-May-24
1607 VSD Confin Ltd 30-May-24
1608 VXL Instruments Ltd 30-May-24
1609 Wagend Infra Venture Ltd 30-May-24
1610 Wardwizard Foods & Beverages Ltd 30-May-24
1611 Wardwizard Healthcare Ltd 30-May-24
1612 Welspun Corp Ltd 30-May-24
1613 Western Ministil Ltd 30-May-24
1614 Wherrelz IT Solutions Ltd 30-May-24
1615 Winsome Breweries Ltd 30-May-24
1616 Wisec Global Ltd 30-May-24
1617 Woodsvilla Ltd 30-May-24
1618 XT Global Infotech Ltd 30-May-24
1619 Yamuna Syndicate Ltd 30-May-24
1620 Yarn Syndicate Ltd 30-May-24
1621 Yashraj Containeurs Ltd 30-May-24
1622 Yatra Online Ltd 30-May-24
1623 Yogi Infra Projects Ltd 30-May-24
1624 York Exports Ltd 30-May-24
1625 Zeal Aqua Ltd 30-May-24
1626 Zeal Global Services Ltd 30-May-24
1627 Zenith Exports Ltd 30-May-24
1628 Zinema Media & Entertainment Ltd 30-May-24
1629 Zodiac Clothing Company Ltd 30-May-24
1630 Zodiac-JRD-MKJ Ltd 30-May-24

This page is created for information purpose. It is not a BUY/SELL recommendation. 62

Please do your own due diligence before making any investment decisions.
 29th May 2024
Annexure
Sector specific PE classification:

This page is created for information purpose. It is not a BUY/SELL recommendation. 63

Please do your own due diligence before making any investment decisions.
 29th May 2024
Retail float calculation:
Shareholding percent for resident individuals holding nominal share capital up to INR 2L.

Special Situation:
Special Situation refers to any form of capital raise by the Company – Preferential issuance or allotment
of equity shares, Preferential issuance or allotment of equity warrants, Rights issuance, recently
conducted IPO / FPO or issuance of any debt security like NCDs, commercial papers, etc.

Future Visibility:
Future Visibility refers to a piece of information / event that positively impacts future revenues. Examples:
a large order win by the company, partnership / acquisition, new factory setup, expansion in existing
factory, new stores, launch of a new brand, etc.

Futuristic Sector:
Futuristic Sector refers to those sectors where high growth is expected. Examples: Green Energy (solar,
wind, etc.), Electric Vehicle, Railways (through railways modernization), Defence (through increasing self-
reliance), New-Age IT (Cloud, AI, ML, big data), 5G, Electrification, etc.

This page is created for information purpose. It is not a BUY/SELL recommendation. 64

Please do your own due diligence before making any investment decisions.