RNI No : GUJENG / 2008 / 24320

GAMC No. :1703/2015-17. Issued by SSP Ahd. Valid up to 31-12-2017

1818181818th th th th th May to 24May to 24May to 24May to 24May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015

Only Financial Weekly Published in English & Gujarati:: Shree Ganeshay Namh ::

VOL : 8 Issue No: 13

Page38

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The stock market may witnessonly one sided movement from Tuesday

Markets OutlookBharat Dalal

(Chartist-Columnist) (M. 09930601288)Bharat Dalal

is connectedwith Stock mar-kets since 1987.He is regularlycontribution in

Gujarati Mid-Day & DivyaBhaskar News Papers

The market seems to be settling down after witnessing two sided vola-tility on May 13. The market closed at 8261 after the market witnessed anarrow movement and the difference between spot and future nifty gotvanished the market will witness only one sided movement. The move-ment may by 99% in favour of bull run because market has witnessedimprovement at lower level. It indicates that people are buying at lowlevel and planning for the bullish trend. PSU bank shares have alsoimproved on optimism of rate cut, which also led bank nifty and niftytowards improvement. Indian Rupee is also gaining strength against Dol-lar. Hike in petrol and diesel prices are likely to provide much neededboost to index heavy weight Reliance and ONGC. Most important reason for improvement in themarket is that people are not ready to sell at current market rate.

The new week is 21st, in which high and low prices will work as stop loss for next seven years.Therefore, market opening on Monday is very important. So trade on upper price than that andconsider stop-loss at 1% down the Monday opening.

BSE Sensex (27324):- On upward movement, beyond 27206 it may go up to 27370, 27660 and27930. On downward movement, below 27252 it may go down to 27196, 27060. Working on 22nd

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 2SMARTI N V E S T M E N Twill be important.

Nifty Future (8261) :- On upward movement, beyond 8238 it may go up to 8300, 8338 and8380. On downward movement, below 8219 it may go down to 8176 and 8120.

Bank Nifty :- It may be in support zone between 18060 and 18110. Beyond 18170 it may go upto 18360, 18425, 18670, 18060, 17962 and 17740.

BATA :- Beyond 1050 buy with stop-loss at 1041. On upward movement, beyond 1070 it maygo up to 1110.

Axis Bank :- Monday working will be important. Buy when it crosses 557 with stop-loss at 553.On upward movement, beyond 576 it may go up to 590.

Aurobindo Pharma :- Hold buying with stop-loss at 1310. On upward movement, beyond 1340it may go up to 1378 and 1409. Keep an eye on working on May 20.

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 3SMARTI N V E S T M E N TJatin Sanghavi

(Mumbai)(M) 098205 26455

jatinsanghavi100@yahoo.com

Market Scan

Rec. Name CMP SL TGT-1 TGT-2

Sell TCS 2511 2565 2430 2347

Sell ACC 1472 1503 1426 1379

Sell JSW St. 876 903 835 793Sell Havells 271 277 261 250

Sell REC 295 301 285 274

This Weeks Recommendations

S3 S2 S1 Close R1 R2 R3NIFTY 7961 8065 8167 8262 8355 8470 8574SENSEX 26469 26776 27051 27324 27703 28044 28384

:::: INDEX LEVELS ::::

Last Weeks RecommondationStocks Reco.Price TGT Reached Lot Size Profit

Sell Grasim 3493 3383 3456 125 4625Sell TCS 2527 2460 2480 125 5875Sell M & M 1180 1144 1170 250 2500Sell IGL 398 383 395 1000 3000Sell PFC 256 248 252 1000 4000

Total 20,000

Kissing the Neck-LineKissing the Neck-LineKissing the Neck-LineKissing the Neck-LineKissing the Neck-Line8300-8355 : Immediate Resistance Zone8300-8355 : Immediate Resistance Zone8300-8355 : Immediate Resistance Zone8300-8355 : Immediate Resistance Zone8300-8355 : Immediate Resistance Zone

Just as was the case in the previous week, both the indices made a dash towards the neckline(of the Bearish Head and Shoulders) on Monday; and fell on Tuesday making a big bearish candlein line with the downtrend. This was the second time the indices went to kiss the neck-line andmade a lower top (Sensex 27544 and Nifty 8332). This is way of confirming the bearish patternbreakout and it has been done twice. As things stand now the zone between Sensex 27544-27603 and 8300-8355 will act as immediate Resistance zone.

Technically Speaking :- Sensex opened the week at 27249, made a high of 27544, low of26750 and closed the week at 27324. Thus it closed the week with a gain of 219 points. At thesame time the Nifty opened the week at 8243, made a high of 8332, low of 8089 and closed theweek at 8262. Thus the Nifty closed the week with a gain of 71 points.

On the daily charts, both the indices have formed a small white body candle on Friday, whichseems to be a part of the Falling Three Methods as the small bodies of last three days are withinthe trading range of the Tuesday's big black body candle. The pattern will get complete if a bigblack body candle forms on Monday. On the weekly charts, once again a white body Spinning Tophas been completed which is a neutral formation. Thus last weeks Homing Pigeon required aconfirmation in the form of a real white body candle which did not happen this week, as a result theHoming Pigeon could not get confirmed. Thus daily as well as weekly candlestick patterns pointtowards further consolidation with a bearish bias.

Currently the market is witnessing a pull-back of the immediate fall from Sensex 29094 to26423 and Nifty from 8844 to 7997 and the relevant pull-back levels are placed at Sensex 27444-27759-28074 and Nifty 8320-8420-8521.

In last two weeks, the indices have twice tested the neckline of H&S pattern and retraced fromthere. In the process two lower tops have been registered (Sensex 27544 as compared to 27603

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 4SMARTI N V E S T M E N T

Sell Havells : 271 : SL 277 ; TGT : 261-250

and Nifty 8332 as compared to 8355); which are now coinciding with the 200dma (Sensex - 27588and Nifty - 8300) along with 38.2% Retracement level i.e. Sensex 27444-27603 and Nifty 8300-8355 will act as resistance zone going forward.

This week both the indices managed to stay below the important long term average of 200dma(Sensex - 27588 and Nifty - 8300), medium term average of 50dma (Sensex - 28100 and Nifty -8521) as well as the short term average of 20dma (Sensex - 27369 and Nifty - 8283). Thus thetrend in the short term, medium term and also the long term timeframe continues to remain down.

Both the indices are progressing towards target of Bearish Rising Wedge pattern which falls at26049 for the Sensex and 7882 for the Nifty. Besides this, both the Sensex and Nifty had alsocompleted an Ascending Broadening pattern and the target for that pattern is at Sensex 25034and Nifty 7533. Coupled with this, both the indices have also completed a Head and Shoulderspattern and the target as per this pattern is at Sensex 24486 and Nifty 7425.

MACD has signaled a buy this week whereas Price ROC is negative and continues with its Sellsignal. RSI (46) has moved higher but still suggests bearish momentum. Stochastic Oscillator %K(56) is above %D, thereby continuing with its Buy signal. MFI (54) has just gone above the equilib-rium line suggesting positive money flow. OBV continues to make lower top lower bottom forma-tion. ADX has increased to 25, suggesting that the current downtrend is gaining strength. Direc-tional Indicators continue with its Sell signal as +DI remains below -DI. Thus Oscillators are givingmixed signals thus suggesting consolidation with a bearish bias.

Options data indicates highest Call Open Interest buildup at the strike of 8500 and highest Putbuild-up is at the strike of 8000. Thus Option data suggests a wide trading range with supportcoming in at 8000 and resistance around 8500.

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 5SMARTI N V E S T M E N TTerrific Shots

SML Isuzu (Rs. 1170.00) (Code: 505192) :- The commercial manufacturer companywas incubated in 1983 as Swaraj Mazda and it was named as SML Isuzu in 2011. Sunimoto holds44% and Isuzu Motors Japan hold 15% holding. It is considered pioneer in complete buses, am-bulance and customized vehicles. The company inked a pact with SBI for vehicle finance acrossthe nation. It has obtained A-1+ rating from ICRA for short term borrowing. For some time the FIIsare very bullish in this stock, increasing their stake from 0.25% in last quarter to 0.77% in thisquarter. The company recorded net profit of Rs12.77 crore on turnover of Rs321.54 crore thusachieving EPS of Rs35.19 on equity of Rs14.48 crore. It may give handsome return in short term.

Bharat Forge (Rs. 1271.00) (Code: 500493) :- The Kalyani Group's stock has beenmarching ahead uninterrupted. The stock prices went up to Rs1362.9 and down to Rs435 duringthe year. Majority of the fund managers and FIIs are bullish in this stock. It manufactures automo-bile, power, oil and gas, rail, marine, aerospace, construction and mining sector products. It has itsplants in India, China and Europe. The company is ranked in the four largest forging companies ofthe world with capacity of 7 crore TPA. In December quarter the company's income increasedfrom Rs857 crore to Rs1217 crore, while profit increased from Rs94 crore to Rs196.34 crore withEPS of Rs8.43. It may cross Rs1500 level in coming days.

Sintex Ind (Rs. 109.00) (Code: 502742) :- The 'B' group company with face value ofRs1 a share has witness 52 week high at Rs136.40 and a low at Rs59. In FY2015, the company'sincome increased from Rs5864.47 crore to Rs7034.77 crore while profit increased from Rs364.70crore to Rs528.81 crore with EPS of Rs14.43. The stock is being quoted at PE of 7.55. It is alsobeing traded at much below rate compared to its all-time high rate of Rs308. The company hasdeclared 70% dividend. It has witnessed record sales and profit in FY2015. The company hasgained a lot on export front. The stock can give good returns in long term.

Motheson Sumi (Rs. 495.00) (Code: 517334) :- The biggest auto ancillary com-pany supplies component modules and systems to automobiles sector. Its product portfolio in-cludes encopresis electrical distribution system, polymer product and complete module system. Ithas its presence in 25 countries with 124 plants. The company enjoys investor friendly status withpaying regular dividends. In FY 2015, the company's sales increased from Rs30721.01 crore toRs35031.89 crore, while profit increased from Rs764.97 crore to Rs862.47 crore. The stock isbeing quoted at PE of 50. Based on the strong financial results the stock is achieving newerheights and it may continue its strong performance on the bourse in coming days as well.

Buy... Buy...Bank of Mah. 41.00

Magma Fincorp. 93.00

Subros 60.00

Mirc Electronics 16.00

NCC 96.00

Kokuyo Camlin 92.00

Gabriel India 80.00

ADF Foods 70.00

Marg Ltd. 11.00

Crompton Greaves 170.00

Buy on DipsThe Byke 166.00

INOX Wind 468.00

Sharda Crop. 343.00

Bharti Infra 409.00

Orient Cement 175.00

D-Link 215.00

Talwalkars 340.00

Man Ind. 70.00

Union Bank 164.00

Oriental Bank 211.00

Just Dial 1070.00

A.B. Nuvo 1842.00

BPCL 765.00

Ajanta Phamra 1294.00

Dr. Reddy 3491.00

EMAMI 1029.00

Mahindra Life 465.00

Gillette 43.00

Grasim Ind. 3553.00

Shree Cement 11874.00

NBCC 772.00

Zydus Wellness 971.00

Sell on HighABG Shipyard 178.00

Tata Power 72.00

Dena Bank 51.00

JSW Steel 875.00

HEG Ltd. 208.00

Indian Bank 159.00

NTPC 136.00

IOC 336.00

DLF 124.00

IDEA Cellular 173.00

Vedanta 210.00

Hold

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 6SMARTI N V E S T M E N TChart Buster By Talaksi Gosar(Mumbai)

Sensex inches up in consecutive second week on rate-cut hopesUptrend likely to stay as negative factors have been factored in

Although reluctantly, the Indian stock markets continued to inch up in the second week in a row.The BSE Sensex which had moved up by 94 points in the previous week, rose by another 219points in this week, thus taking the total to 312 points in couple of weeks, only ten per cent of theloss that it had suffered in the preceding four weeks.

Under the impact of the previous week's rallying mood and especially a jump of nearly 506points on the BSE Sensex on Friday of that week, the Indian stock markets commenced tradingfor the week under review, with a highly positive note and notched yet another gain of 402 pointson Monday.

It was such a swift rise in the markets that attracted selling in the form of booking profits byshort-term traders that sent the market barometer back by 630 points on Tuesday, its biggest fallsince March 26. On Tuesday, the markets plunged to close below 27000 mark. Prior to Tuesday'sfall, the Sensex had gained by over 900 points in the preceding two trading sessions.

In view of the ongoing Parliament session ending on Wednesday and the crucial bills such asGoods and Service Tax Ammendment bill and Land Acquisition bill being once again stalled dueto strong opposition in both the houses, a general feeling was born that the Modi-led Governmentwould not be able to implement economic reforms and that could result in flight of foreign capitalfrom the markets. This also meant that the Government was compromising on these bills byreferring them to the Select Committee of Parliament and hence delaying the much talked abouteconomic reforms as promised by the NDA Government.

Correction in other Asian markets also had its toll on the Indian markets. On Tuesday, moststock markets in Asia ended with a negative bias and overnight the Wall Street also ended loweras investors fretted about Greece's precarious financial condition and slowing growth in Chinawhile energy stocks fell on weaker oil prices.

The rupee which rose to a high of Rs 63.85 against US Dollar on Monday, again slipped back to64.27, taking it closer to its yearly low of 64.28 hence raising worries that foreign portfolio outflowmay create a vicious cycle between rupee and domestic shares, fund managers feared.

Despite gains in the last two trading sessions, FIIs were net sellers in the equity markets to thetune of Rs 270 crores in the last two trading sessions (ending Tuesday). And in the last 17 ses-sions they have sold shares worth over Rs 14,000 crore. A clarification issued by the Income TaxDepartment on the MAT issue did not provide any solace to foreign institutional investors. FIIswere not sure that the government would forgo the tax claims for ever. Caution also prevailedahead of factory output growth and retail inflation data due later in the day.

Corporate earnings so far have been below the street estimates. Analysts said corporate earn-ings need to catch up with the current market valuations as markets had already factored inimproved earnings, whereas earnings are not expected to improve by Setpember-December quarterwhich weighed on the overall market sentiments.

US job growth rebounded in April and the unemplyment rate dropped to a near seven-year lowof 5.4 per cent, signs of a pick up in economic momentum that could keep the Federal ReserveBank on track to hike interest rate this year. Rate hike by the US central bank may lead to outflowof capital from emerging markets like India into US bonds which give a higher risk free return.

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 7SMARTI N V E S T M E N TAll these negative factors including the spoiled market sentiments were fully reflected when the

markets fell by 630 points on Tuesday and therefore, they once again rallied by 374 points onWednesday. On Thursday a small decline of 45 points was registered in volatite trading but thelast day of trading brought a relief when the Sensex rose by 118 points.

Thus it turned out to be a second consecutive week in which the Sensex has gained. In themeantime, the consumer price inflation eased to a four-month low of 4.87 per cent in April onslower annual increase in food costs, government data showed on Tuesday after market hours.The IIP numbers also showed decline thus raising hope of an interest rate cut by the ReserveBank of India on June 2, when it comes out with a fresh monetary policy. A few optimists also hopethat the banking regulator might come out with interest rate cut even before the pre-scheduled bi-monthly review meeting. Meanwhile car sales rose by 18.14 per cent in April, the fastest rate ofgrowth in 30 months as the auto industry continued its journey on the road to recovery riding onimproved consumer sentiments, new models and favourable fuel prices. The Moody's rating agencysaid India growth story remains intact as it will grow at a strong pace of 7.5 per cent in financialyear 2015-16-the highest among G20 nations helped by reforms drive and lower oil prices.

Thus the markets have already fully discounted whatever negative factors and have readied fora fresh upmove. The FIIs are also expected to stop selling unabtedly as on one hand prices ofshares have gone down too low and on the other hand, their problem of MAT is being resolved asthe finance minister has already appointed a committee to look into the matter and when theGovernment appoints such committee, it necessarily means that the outcome would be in favourof the FIIs. The meteorology department has forecast that the Monsoon this year is going tocommence in time and would be satisfactory. It said that the Monsoon is expected to hit Keralacoast by 30th May. This coupled with a likely rate cut in June 2 meeting of the RBI is sure to makethe markets go up and inspire shrewd long-term investors to mop up investment worthy scripsfrom the new week onwards. So, it is likely to be a positive trend in the next week and therefore,investors are suggested to adopt a buy and hold strategy if they wish to make sure and handsomegains out of the markets.

State Bank of India :- State Bank of India's Re one paid up share had fallen to a lowof Rs 145.60 (adjusted on ex-split basis) in Mid-February, 2014, and then entered a bullish trendto have risen up to a high of Rs 335.90 by January 28, 2015. After having risen so swiftly, theshare attracted selling and gradually slid to a low of Rs 255.25 by March 25. Since the share beingprimarily bullish it attracted value buying at beaten down prices and started going up once againon hopes of a interest rate-cut if not earlier then latest by June 2, when the Reserve Bank of India'sboard of governors is scheduled to review monetary policy. The rate cut hope sent the share ofState Bank of India up to a high of Rs 288.10 on Friday before closing at Rs 287.35. The ReserveBank of India is expected to come out with a rate cut this time as the inflation rate at both levels,retail and wholesale, has come down and the IIP numbers have declined, both being pre-requistitefor a rate cut decision by the banking regulator. Since State Bank of India is the biggest bank, itwould be the biggest beneficiary of a rate cut and therefore suggested to be picked up for mediumto long-term investing.

Indian Metals :- Indian Metals is a company engaged mainly in mining and metals anddoing well on financial front. The Rs 10 paid up share of Indian Metals had fallen to a low of Rs137.60 in Auguist-September, 2013, when the markets also reached their final bottoms beforeentering the latest unprecedented stock market boom. After having joined the general uptrend inthe markets, the share rose upto a high of Rs 260 by September 6, but failed to keep pace with themarket and instead faced selling pressure that kept it under check for a long time. The failure inkeeping pace with the markets, was transalated into a bearish phase in the scrip as a result ofwhich it once again resorted to a down trend and reached a low of Rs 144.10, a level that was just

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 8SMARTI N V E S T M E N Tclose to the previous low of Rs 137.60 and thereby a double bottom pattern was formed on itsdaily chart. The double bottom pattern in Indian metals worked wonders as the share then jumpedup and reached a high of Rs 269 in just 10 trading sessions. Such a swift and massive jumpattracted selling and pushed it down to a low of Rs 177.20 by Wednesday of the last week but itbasically being a bullish stock in technical terms, once again started rising and reached a high ofRs 201.70 and closed there in a buying freeze. The share has thus indicated a possibility of goingfurther up and therefore recommended for buying for short-term trading gains.

Nilkamal Ltd :- Nilkamal Ltd. is a leading plastic processing company whose Rs 10paid up share had fallen to a low of Rs 94-95 level in August, 2013, in line with the general marketsand then entered into a bullish phase which is continuing to prevail even till the last trading day ofthe week. After having entered into a rising trend, the share of Nilkamal Ltd. has continued to goup, albeit, with small and short-spanned technical corrections. On Friday of the last week, theshare of Nilkamal Ltd. scaled to a new high of Rs 531.80 before closing at Rs 519.20 and therebydisplayed a distinctively strong uptrend. The underlying strength thus revealed is expected to takeit further up in the days to come and therefore the share is suggested to be picked up for meduim-term investing.

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 9SMARTI N V E S T M E N T

Golden quote :-It is during our darkest moments

that we must focus to see the light

Stock WaveSarvesh Ashok Trivedi

(Mumbai) (Mob) 09820728124www.chartsanketstock.com

Index may witness important supportat 26948 and Nifty Future at 8143

BSE Index (27324.00) :- It is moving downward from top of 29044.61. It shows neutral on dailybasis, oversold position on weekly and monthly basis. On upward movement, beyond 27380 it may goup to 27425, 27545, 27604, 27760, 27930, 28100, 28430 and 28600. On downward movement, below27160 it may go down to 26948 with 26750 showing weak condition.

Nifty Future (8261.20) :- From top of 8873.65, it is moving downward. It shows neutral posi-tion on daily basis, while oversold on weekly and monthly basis. On upward movement, beyond 8296it may go up to 8333, 8375 as resisting level and beyond that it may go up to 8450, 8500, 8550, 8600and 8660. On downward movement, below 8215 it may go down to 8143, 8096 with support at 8020.Below 8143 level shows weak condition. 200 days' EMI is 8216.

Bank Nifty Future (18763.10) :- From bottom of 17286.10, it is on sidewave. It shows neutralposition on daily basis, while oversold on weekly and monthly basis. On upward movement, beyond18268 it may witness resisting level at 18330 and beyond that it may go up to 18425, 18540 and18650. On downward movement, below 18000 it may go down to 17970, 17850, 17740, 17586 asweak position indicator.

Bharat Forge (1271.05) :- Having touched 1175 level on downward movement, the stock isimproving its position. It shows neutral position on daily and weekly basis, while overbought positionon monthly basis. On upward movement, beyond 1325 it may witness important resisting level at 1363and beyond that it may go up to 1430. On downward movement, below 1265 it may get support at1250.

M&M (1249.05) :- From bottom of 1137.70, it is going up. It shows overbought position on dailybasis and oversold position on weekly and monthly basis. On upward movement, beyond 1280 it maygo up to 1290. On downward movement, it may get support at 1200.

MRF (36552.00) :- From bottom of 34702 it is witnessing slow improvement. It shows neutralposition on daily basis, while oversold position on weekly and monthly basis. On upward movement,beyond 36873 it may go up to 37000, 37440 and 38100. On downward movement, it may get supportat 35205.

SBI (287.45) :- It shows slow improvement from 259.65. it shows towards overbought position ondaily basis, while oversold position on weekly and monthly basis. On upward movement, beyond 286it may be in range of Rs290 to Rs295. On downward movement, below 281 it may get support at 275.

Wockhardt (1309.20) :- It is on sidewave movement after touching 1194.40. It shows over-sold position on daily and weekly basis, while overbought to neutral position on monthly basis. Onupward movement, beyond 1345 it witness resisting level at 1371 and beyond that it may be in rangeof 1435 to 1468. Don't have bearish outlook.

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 10SMARTI N V E S T M E N TExperts Eye

Dilip Davdae-maildilip_davda@rediffmail.com

Best BuyRelaxo Footwears

Camlin FineMotherson Sumi

Roller Coaster week end in greenRoller Coaster week end in greenRoller Coaster week end in greenRoller Coaster week end in greenRoller Coaster week end in green

Bonus AnnouncementRelaxo Footwear (1 : 1)

SRS (1 : 1)

Ex - SplitRasi Electrode (5 for 1)

Shivam Auto has convenedboard meeting on 18.05.15 to

consider bonus issue.

It was a roller coaster week that finally managed to close in green. Positive trends werelargely attributed to rising hope for rate cut as CPI and WPI has eased and Rupee too firmedup a bit and gave a sigh of relief. With both end movements high volatile trades took place thattested higher lower bottom for the week. Although global worry continued, market is pinninghope for speedy action for reforms as India has lost its most preferred destination andunderperformed amongst Asian markets. IIP remained negative and inflation eased that boostedbelief for rate cut from RBI in its June first week meet.

In the high volatile week BSE Sensex and NSE Nifty moved in the range of 27544.24-26750.01 and 8332.75-8089.80 respectively.

Secondary Market :- With higher opening on Monday markets maintained gaining momen-tum for the first session of the week. BSE Sensex scored 401.91 points to end the day at27507.30 and NSE Nifty gained 133.75 points to close at 8325.25. FII turning net buyershelped market to score with surge in Metal, Pharma, Auto, Banking heavy weights counterscoupled with rate cut by China Bank reports and likely postponement of rate hike by US Fed-eral Bank. Relaxo announcing 1 for 1 bonus with 100% dividend boosted it to mark uppercircuit. Sri Amarnath Fin got listed on BSE. Rasi Electrode turned ex-split (5 for 1). RelaxoFootwear and SRS both announced liberal bonus in the ratio of 1 share for every 1 share held.

With divergent opening on Tuesday market nosedived post noon as the day progressedand indices lost heavily. BSE Sensex lost 629.82 points to close at 26877.48 and NSE Niftymirrored similar trends with a deficit of 198.30 points to end the day at 8126.95. Rupee turningweek to market Rs. 64.20 a dollar punctured the sentiment and all out selling took placeamidst global concerns over Greece issue and uncertainty at domestic front over important billpassage. Surge in Crude Oil prices added fuel to the fire. Metal, Banking, Auto, Capital Goods,counters lead the doom. Mid and Small cap too lost the charm with heavy sellouts. FIIs netbuying status failed to charm the market.

On Wednesday markets opened higher with a gap and gained on short coverings. BSESensex marked gain of 373.62 points to end the day at 27251.10 and NSE Nifty scored 108.50points to close at 8235.45. Short coverings in fancy counters of Capital Goods, Auto and

Banking lead the rally and got support from select Mid andSmall cap counters. Market breadth turned positive. In lastthree sessions, we marked roller coaster ride for indices.Crescent Leasing got listed on BSE.

With divergent opening on Thursday amidst volatiletrades, indices finally closed in red. BSE Sensex lost 45.04points to close at 27206.06 and NSE Nifty marked deficit ofmere 11.25 points to end the day at 8224.20. India emergedas the under performer among BRICs countries. Autocounters surge failed against doom in IT counters and thusmarket closed in red. However, Mid and Small cap counters

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 11SMARTI N V E S T M E N Tmarked value buying from bulls even when FII remained net sellers. Banking counters markedPSU v/s Private sector bank game of punters. UFO Moviez got listed on BSE and NSE andclosed at a discount of 4% plus and raised concern for primary market.

On Friday markets opened in green and week trader's short covering helped it to end theday as well as the week in green. BSE Sensex gained 117.94 points to end the day at 27324.00and NSE Nifty scored 38.15 points to close at 8262.35. Auto counters commanded rally andgot support from FMCG sector fancy scrip as IMD forecasted early rains. Metal and Miningcounters remained weak on profit bookings at every rise. Positive corporate reports boostedcounters like Take Solutions, KNR Constructions, Cadila Health, Nectar Life, Grindwell, DhunseriPetro, Stride Arco etc and negative trends dampen counters like HDIL, Zydus Wellness, HEG,Apar Ind, Tata Steel etc. Index heavyweights gaining momentum helped indices to close ingreen.

With high volatile trades during the week, indices marked net weekly GAIN of 218.61 and70.85 points in Sensex and Nifty respectively.

Rupee moved around of Rs. 64. a dollar, and Crude Oil remained volatile amidst Greececrisis. Failure of Land Acquisition Bill, GST passages dampen the sentiment and India lostmost preferred destination amongst BRICs countries and remained underperformer. Now un-less speedy actions on reforms are not shaping out, market is not likely go gain momentum.Well it marked green pasture only on two counters i.e. IMD's forecast of early monsoon andrising hope for rate cut by RBI as CPI and WPI inflation cooled down.

Under the given scenario, BSE Sensex may move in the range of 28100-26200 and NSENifty between 8450-7800.

Shivam Auto has convened board meeting on 18.05.15 to consider bonus issue.Scrip Watch :- Keep a watch on the following scrip that may be considered for medium to

long term investments.Relaxo Footwears (BSE Code 530517) :- This footwear and related product company has

posted net profit of Rs. 103.04 crore on a turnover of Rs. 1480.81 crore for the fiscal 2014-15against net profit of Rs. 65.64 crore on a turnover of Rs. 1212.27 crore for correspondingprevious year. It has announced a dividend of 100% and also surprised stakeholders with abonus in the ratio of 1 for 1. As on 31.03.15, equity capital of Rs. 6.00 crore is supported byfree reserves of Rs. 361 crore plus. Scrip is worth considering at declined level for medium tolong term on cum-dividend/cum-bonus basis. It currently quotes around Rs. 805.75 against 52week High/Low of Rs. 869/340, FV Re. 1.

Camlin Fine (BSE Code 532834) :- This fine chemical manufacturing company expandingglobally has (on a consolidated basis) posted net profit of Rs. 55.03 crore on a turnover of Rs.558.27 crore for the fiscal ended on 31.03.15 against net profit of Rs. 28.71 crore on a turnoverof Rs. 508.67 crore for corresponding previous fiscal. It has announced a dividend of 45%. Ason 31.03.15, equity capital of Rs. 9.59 crore is supported by free reserves of Rs. 125 croreplus. Scrip is worth considering at declined level for long term. It currently quotes around Rs.94.90 against 52 week High/Low of Rs. 105/25, FV Re. 1.

Motherson Sumi (BSE Code 517334) :- This automotive sector company has (on consoli-dated basis) posted net profit of Rs. 862.47 crore on a turnover of Rs. 35031.89 crore for thefiscal 2014-15 against net profit of Rs. 764.97 crore on a turnover of Rs. 30721.01 crore forcorresponding previous year. It has announced a dividend of Rs. 3 per share. As on 31.03.15,equity capital of Rs. 88.19 crore is supported by free reserves of Rs. 3226 crore plus. Scrip isworth considering at declined level for medium term investment. It currently quotes around Rs.495.55 against 52 week High/Low of Rs. 534/257, FV Re. 1.

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 12SMARTI N V E S T M E N TDISCLAIMER : No financial information whatsoever published anywhere here should be con-

strued as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matterpublished here is purely for educational and information purposes only and under no circum-stances should be used for making investment decisions. Readers must consult a qualified finan-cial advisor prior to making any actual investment decisions, based on information published here.Any reader taking decisions based on any information published here does so entirely at own risk.Author has no holdings or plans to invest in any scrip referred in this article.

(Email: dilip_davda@rediffmail.com )

Dividend AnnouncementsADC India (10%), APL Apollo (60%), Atul Auto (50%), Avanti Feeds (275%), BSL

(12%), Bank of Baroda (160%), Capital Trust (10%), Capri Global (15%), Ceejay Fin(14%), Chokshi Imaging (5%), Deep Ind (10%), Elegant Marbles (20%), Eveready Ind(40%), Havells India (300%), Jai Corp (50%), Kansai Nerolac (140%), Modern India (6%),Nitta Gelatin (10%), OCL India (200%), Orient Paper (10%), Peninsula Land (15%),Polychem (25%), Relaxo Footwears (100%), Rolcon Engg (15%), Sahyadri Ind (15%),Simplex Realty (10%), Siyaram Silk (100%), Syndicate Bank (47%), Tips Ind (10%), TFCI(8%), Unichem Lab (100%), Vardhman Text (100%), WH Brady (10%), Yuken India (15%),Apollo Tyres (200%), Ashok Alco (10%), Ashok Leyland (45%), Automobile Corp of Goa(125%), Bombay Cycle (40%), Camlin Fine (45%), Central Bank of India (5%), CARE(80%), Dr Reddy's Lab (400%), Electrosteel Cast (65%), Finolex Cables (90%), FlorenceInvest (15%), Ingersoll-Rand (30%), Jubilant Life (300%), La Opala (65%), Ludlow Jute(5%), Maharashtra Scooter (300%), Mayur Uniq (16%), Motherson Sumi (300%), PTLEnterprise (50%), Punjab & Sind Bank (6%), Poddar Develop (15%), Sobha Ltd (70%),TV Today (30%), Torrent Power (15%), Tai Ind (7%), TBZ (10%), Uco Bank (20%), UnionBank (60%), Vas Infra (7%), Vijaya Bank (15%), Aarti Ind (35%), Adani Enter (140%),Aditya Birla Chem (50%), Advani Hotels (6%), Amrit Corp (50%), Ashoka Buildcon (14%),Automotive Axles (10%), Capital First (22%), Dalmia Bharat (75%), Deepak Nitrite (50%),Emami (300%), Jayant Agro (20%), Lupin (375%), Nilkamal (45%), SIL Invest (12.5%),Salzer Electro (15%), Smartlink Network (100%), Suraj Ltd (15%), TT Ltd (10%), TastyBite (10%), Umang Dairies (20%), Aditya Birla Nuvo (70%), Apar Ind (35%), Arvind Ltd(25.5%), Balkrishna Ind (120%), Bank of Maharashtra (8%), Blue Star Info (40%), DBCorp (42.5%), Dhunseri Petro (40%), Glance Fin (7.5%), Graphite India (100%), GrindwellNorton (130%), GSFC (110%), HEG Ltd (30%), Hindustan Media Vent (12%), IndianBank (42%), IMFAL (15%), Indo Thai Secur (10%), JK Tyre (75%), Jubilant Foodworks(25%), Kanco Tea (50%), MT Educare (20.5%), Manappuram Fin (22.5%), MonsantoIndia (180%), NCC Ltd (20%), OBC (33%), Oriental Carbon (55%), Subros Ltd (35%),VIP Ind (50%), Zydus Wellness (60%), Alkyl Amines (80%), Amrutanjan Health (120%),Arman Fin (12%), Bhagiradha Chem (10%), Birla Ericsson (10%), Cadila Health (240%),Dena Bank (9%), Edelweiss Fin (20%), HT Media (20%), IL&FS Trans (40%), JK LakshmiCement (40%), JSW Steel (110%), Jain Irri (25%), Joonktollee Tea (30%), Jupiter Info(1%), MCX (100%), Nestle (140%), Nile (30%), Oracle Fin (3600%), Oriental Hotels (40%),PC Jeweller (32%), Puravankara Proj (31%), Safari Ind. (10%), Sona Koyo (65%), TakeSolu (40%), Tata Coffee (130%), Torrent Pharma (125%), Zuari Agro (20%), Zuari Glo-bal (10%) etc.

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 13SMARTI N V E S T M E N TScrip Watch

Alicon Castalloy (Rs. 290.00) (Code: 531147) :- Aluminum sector company's stockprices witnessed 52 week high at Rs348 and low at Rs117. Based on the order inquiry, prepara-tions for new product launching, merger with atlas cast alloy it can be said that the company'sfuture is bright. In the fourth quarter the top line was as per market expectations but bottom linewas poor. The company announced final dividend of Rs3 per share for FY2015. In the fourthquarter the company's income increased by 24% to Rs144 crore. EBITDA margin also increasedby 12.9% at 14.2%. Net margin remained under pressure due to high depreciation, increasingfinance cost and high tax cost. It has got SEBI nod for merger with Atlas Cost Alloy. The companymay witness turnaround by next year. The stock is being traded at PE multiple of 17 and is likelyto cross Rs300 level in short term and Rs350 in long term.

Grasim (Rs. 3553.00) (Code : 500300) : Amid difficult market conditions, Grasimreported a 25 per cent drop in its consolidated net profit at Rs.507 crore for the fourth quarterended March 31, 2015, against Rs.679 crore in the corresponding period of the previous year.TheAditya Birla group company reported a 5 per cent higher net revenue of Rs.8,820 crore againstRs.8,418 crore. The board of directors has recommended a dividend of Rs.18 per share.Technically,the stock looks good. It has been forming higher bottoms. In the month of August 2014, the bottomwas around Rs 3,200 then Rs 3,350 in December and now in the month of March it has formedaround Rs 3,600. So, technically also, the stock looks attractive. Buy. Buy more at decline.

Gillette India (Rs. 4378.00) (Code : 507815) :- Gillette India stock was firm strongQ4. Its net profit rose 263% to Rs 31 crore on 9% growth in net sales to Rs 494 crore in Q3 March2015 over Q3 March 2014.Driven by the company's focus on innovation, net sales increased withrobust growth across all segments. Net profit increased due to continued focus on operationalexcellence, the company said in a statement. Sales in Grooming segment were up 9% versusyear ago, driven by strong brand fundamentals and product portfolio. Oral Care segment deliv-ered sates growth of 6% versus last year driven by superior value propositions and strong mix.Sales in the Portable Power business were up 4%, versus year ago behind strength of productportfolio.The large-cap company has an equity capital of Rs 32.59 crore. Face value per share isRs 10. Accumulate.

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1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 14SMARTI N V E S T M E N TMarket Tips

Mahindra Lifespace (Rs. 465.00) (Code : 532313) : Mahindra Lifespace Devel-oper (MLD) is an integrated township and residential property builder. It will be a key beneficiary offalling interest rates on home loans as it is one of the leading company active in affordable hous-ing development. The companys geographically diverse presence, established position in thegrowing affordable housing market, and good mix of residential and integrated business citieshold it in good stead. Currently, 5.9 msf of residential real estate is under construction in fivelocations, including Bengaluru, Chennai and Nagpur. In addition to middle income and luxuryhomes, the company has also launched affordable housing projects in Chennai and Mumbai. Thecompany plans to launch 4.5 msf of projects. MLD holds land banks of over 12 msf to supportfuture project launches, primarily in Chennai. It also recently acquired land with saleable area of0.32 msf under joint development in Mumbai. The stock currently trades at seven times its trailing12-month earnings. Buy.

Bharti Infratel (Rs. 409.00) (Code : 534816) : Bharti Infratel owns 85,892 telecomtowers which included its 42 per cent stake in Indus Towers. The tenancies in its sites have risensteadily from 1.5 levels three-four years ago to 2.12 currently. With Bhartis own operations alongwith anchor tenants, such as Vodafone and Idea Cellular, the companys revenue has grownsteadily. These three operators command nearly 70 per cent of the telecom revenue market shareon a pan-India basis. The company also serves several other operators in many circles. IndusTowers has an even better tenancy ratio of 2.17. With Reliance Jio signing tower sharing agree-ments with both Bharti Infratel and Indus Towers, there is scope for improving tenancies further.According to a report from the telecom regulator, wireless penetration in rural areas is still only alittle over 45 per cent. This low tele-density in the hinterland presents a significant opportunity foroperators. So, a pan-India tower operator such as Bharti Infratel would benefit. Bharti Infratel hasreduced debt from Rs.3,342 crore in 2013-14 to Rs.2,582 crore currently. Interest costs havereduced by 27 per cent in FY15 to Rs.290 crore. In an another development, Bharti Infratel hasbeen included in MSCI India index. The stock has more positives. Accumulate.

Ajanta Pharma (Rs. 1294.00) (Code : 532331) : Ajanta Pharma, a Rs. 1,450crore plus Mumbai based pharma major, has posted satisfactory financial performance for thefourth quarter ended March 2015 and its standalone net profit increased by 20.3 per cent to Rs.84.31 crore from Rs. 70.09 crore in the corresponding period of last year. Its standalone netsales moved up by 19.7 per cent to Rs. 360.36 crore from Rs. 301.14 crore. EBIDTA increasedby 22 per cent to Rs. 140.72 crore from Rs. 115.36 crore. Export contributed 67 per cent of therevenue for the quarter. R&D expenditure increased to Rs. 24 crore from Rs. 11 crore in thesimilar period of last year. The board of directors has recommended equity dividend of 300 percent or the year 2014-15.

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 15SMARTI N V E S T M E N TSMART TIPS

Marksans Pharma (Rs. 58.00) (Code: 524404) :- This B group listed pharmacompany's shares have a face-value of Re. 1. The share touched a high of Rs. 75 and low of Rs.20. Even amid uncertainty, pharma shares have given strong returns to investors. Company hascompleted first phase of turnaround and has embarked on the second phase. Institutional invest-ment in the company has gone up from 7.6% to 14.2% in two quarters. It derives 42% of revenuesfrom UK alone. Eleven of its applications are pending before US FDA authorities, of which it hasreceived approval for one. In the first nine months of the fiscal, company's US business has shotup by 81% to Rs. 120 crores. For the same period, its consolidated income rose 53% to Rs. 626.3crores, while net profit jumped 38% to Rs. 84.4 crores. EBIDTA margins have gone up by 450 bpsto 23.3%. The stock can show 25 to 30% growth in coming three to four quarters.

Suprajit Engg. (Rs. 122.00) (Code: 532509) :- Shares of this B group listed autoparts manufacturer have a face-value of Re. 1. In the last year, the share touched a high of Rs.170 and low of Rs. 72. The company supplies cables to automotive and other sectors. It is theleading cable player in the country and is among the top five in the world. Apart from mechanicalcontrol cables used in vehicles, it also manufactures speedometers and other equipments. Thecompany aims to increase its capacity from 150 million cables to 225 million cables in two yearswith an investment of Rs. 65 crores. Recently, the company's board approved the proposal toacquire 51% to 61.88% stake in Phoenix Lamps from its promoters at Rs. 89 per share. It alsomade an open offer to acquire 26% stake in the company at Rs. 100 per share. For the year endedMarch 2015, company had turnover of Rs. 482 crores and net profit of Rs. 48 crores. The stock willbecome attractive at every decline.

Pennar Industries (Rs. 47.00) (Code: 513228) :- The shares of this B Group listedcompany have a face-value of Rs. 5. The company makes interim products of iron and steel. Theshare touched a high of Rs. 68 and low of Rs. 26 in the last year. It is a leading industrial organisationproviding specialised and engineered steel solutions. It has presence in four crore business unitssuch as steel products, tubes, industrial components and systems & projects. Company recentlyannounced encouraging March quarter results. On a consolidated basis, net profit was up 116%to Rs. 16 crores and sales were up 14% to Rs. 367 crores. EBIDTA rose 31% to Rs. 118 crores,and EBIDTA margins improved 8% to 9.8%. Company has pending orders worth Rs. 76 crores,which includes Hindustan Door Oliver, United Spinning, Sterling, Wilson, Integral Coach Facto-ries, Southern Railway and East Railway. It also has solar power orders from Odisha and MP. Thecompany is expected to benefit the most because of the government's focus on railway, solarpower and environment segments.

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 16SMARTI N V E S T M E N TSmart super duper

Shemaroo Entertainment (Rs. 216.00) (Code: 538685) :- The 'B' group stockwitnessed 52 week high at Rs295 and a low at Rs145.The company's market cap is Rs560 crore.The promoters hold 65.82%, FII hold 9.59%, DII hold 6.85% and public hold 17.74% stake in thecompany. The entertainment segment company was set up in 1962. The stock touched Rs300level at one point of time but now it is being traded around Rs210 level. The promoters hold 65.825stake, while FII hold 9.59%, DII hold 6.85% and public hold 17.74% stake. The company is activein entertainment segment since 1962. It has rights of more than 2900 titles. In the March quarter,the company's income was Rs86.72 crore while profit remained at Rs12.86 crore. In the FY 2015,the company's income increased from Rs263.34 crore to Rs323.45 crore, while profit increasedfrom Rs29.75 crore to Rs41.81 crore with EPS of 17.73 crore. The company had raised Rs120crore through IPO, which was used to develop own libraries across the country. The stock haswitnessed considerable correction so it seems to be a good candidate for investment as it maygive good returns in long term.

Finolex Cables (Rs. 250.00) (Code: 500144) :- The stock is favourite among thefund managers and the FIIs therefore it is making new highs. The company has its plants at Pune,Goa and Uttarakhand. The stock witnessed 52 week high at Rs306.4 and low at Rs147.2. Thecompany has equity of Rs30.59 crore in which the promoters hold 35.86%, FII hold 9.66%, DIIhold 12.8% and public hold 41.68% stake. In FY 2015, the company's income increased fromRs2359 crore to Rs2449 crore, while profit increased from Rs207.68 crore to Rs198.66 crore withEPS of Rs13. The stock is being quoted at PE of 20 on current rate. The company paid 60%dividend in 2013, 80% in 2014 and has declared 90% dividend for 2015. The company has alsoentered into switch gears. It has become attractive after correction.

Federal Bank (Rs. 138.00) (Code: 500469) :- The banking stock has been con-verted from face value of Rs10 a share to five shares with face value of Rs2 a share. In Marchquarter the company's income increased from Rs1838.71 crore to Rs.1908.28 crore, while profitincreased from Rs277.29 crore to Rs280.52 crore with EPS of Rs3.27. The company's equity isRs171.33 crore. The bank has branch network of 1370 branches. It has witnessed sharp fall in itsgross NPA. The FIIs hold 37.65% stake in the bank, while DIIs hold 27.05% and public holds35.05%. The company's market capital is 12758 at current valuation. The stock is being quoted atlower valuation compared to its peers and after robust results the stock is likely to touch a newhigh. The bank is looking for expansion which will improve its CASA. The bank has declared 10%dividend and it is now about to declare bonus shares.

Magma Fincorp (Rs. 94.00) (Code: 524000) :- Magma Fincorp is one of the lead-ing NBFCs in the country. It is listed in 'B' group with face value of Rs2 a share. During the year,the stock prices witnessed a high at Rs142 and a low at Rs75. At current market rate the marketcap is Rs1765 crore. The promoters hold 33.57%, FII hold 43.18%, DII hold 13.255 and publichold only 10% stake in the company. In FY2015, the company's income increased from Rs2081.32crore to Rs2353.63 crore, while profit increased from Rs151.83 crore to Rs180.67 crore with EPSof Rs8.88. the stock is being quoted at lower PE of 10.2. As against equity of Rs38 crore thecompany has reserves of Rs1616.83 crore. One of the leading brokerage houses has given targetof Rs164 in 24 months. Investors can consider it for investment in phased manner.

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 17SMARTI N V E S T M E N TA.J. Diwan (Mumbai)

E-mail : divanconsultancy@rediffmail.com

Make in profitThe aim of investment or trading in stock markets is to make profit. After NDA government's one year

BSE Index has gone up by 3000 points. No doubt it touched 30,000 one time but at higher level there isselling by FIIs.

FIIs are not happy with MAT out come as old noticed served will stay and whatever committee is formedmay decide about future action. FIIs are taking advantage of depreciating rupee and higher dollar. Overand above market is up so profit booking is on card.

We are saved by Indian institutions as earlier they were sellers but with FIIs are selling; there is clearinstruction to buy.

Dollar is going strong with crude price also up in the world. Our government forced to increase Petrol /Diesel l price by Rs.3.25 and 2.75 respectively

U.S. Employment data are very positive so Dow is going up but at the same time there is a risk ofincrease in interest rate.

Nifty has closed at 8262 now 8225 and 8180 are support and resistance is 8350.

The trend of the market is depending on monsoon and corporate results. Monsoon may come early butthere is indication of short fall.

The corporate results are not that encouraging.

We so Lupin doubles in last one year and after last results it has fallen. We consider this as goodopportunity to accumulate slowly. In metal JSW steel Sesa are good short on rise. In IT sector Infosys andTCS are attracting value buying at lower price.

Black money has nothing new only punishment and fine increased. This is harmful for stock markets asit is believed that most of black money is generated in stock markets.

The loss of income from crude may harm infrastructure projects to the certain extent.

BUY.... BUY....BUYCo. Name Code PricePennar Ind. 513228 51.00S. I. Bank 532218 24.00Dhanlaxmi Bank 532180 35.00Marksans Ph. 524404 58.00GSFC 500690 74.00Virtual Glo. 534741 15.00Sintex 502742 109.00R.Com. 532712 65.00Suprajit Engg. 532509 128.00Federal Bank 500469 138.00

TIPS OF THE WEEK

Co. Name Code PriceUnion Bank 532477 164.00Shemaroo Eng. 538685 216.00Motherson Su. 517334 495.00HSIL 500187 383.00Centum Ele. 517544 761.00SML Isuzu 505192 1187.00HUL 500696 845.00Jubilant Food 533155 1747.00Bajaj Auto 532977 2081.00Nestle 500790 7012.00

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 18SMARTI N V E S T M E N TInvestment Ideas - Pratit Patel (9998881112)www.dkwealthadvisory.com

Nifty (8261) :- For next week nifty has strong support around 8210 level, break with volumewill take it to 8135---8090 level. On the upper side it has strong hurdle at 8335---8355 level, crossover with volume will take it to 8500 levels

Chennai Petro (90.25) :- Stock is looking explosive for positional traders. One can buythis stock on dips around Rs.90 keeping stop loss of Rs.87. On the upper side stock will zoom upto Rs.95 level, cross over will take it to 98.5---105 levels in next 1 month

Sterlite Techno (63.30) :- Huge consolidation is going on in this stock. Stock is lookinghot for positional traders. One can buy this stock around Rs.62 keeping stop loss of 58.25. On theupper side stock will zoom up to 67.5 level, cross over will take it to 72---76.5 levels in comingdays

Redington India (118.15) :- Chart is indicating that worst seem to be over for this stock.Stock is looking strong for positional traders. One can buy this stock on dips around Rs.2095-2100keeping stop loss of 2040. On the upper side stock will zoom up to 2155 level, cross over will takeit to 2210 levels in coming days

Ashoka Buildcon (168.80) :- Weekly chart is looking explosive. One can buy this stockaround 162-166 keeping stop loss of 155. On the upper side stock will zoom up to 175level, crossover will take it to 190-195 levels in next 4-6 weeks

Crompton Greaves (170.75) :- Stock is ready for uptrend. One can buy this stockaround 168-170 keeping stop loss of 164. On the upper side stock will zoom up to 175.5 level,cross over will take it to 180---186 levels in 2-3 weeks

HOT INVESTMENT IDEAS OF THE WEEKLast week recommended GLOBAL VECTRA @ Rs.46, during the week it zoomed to Rs.55

levels. Also recommended CONART ENGINEERS @ 24.55, it zoomed to Rs.28.4 levels onMonday itself.

Dhunseri Petrochem (Rs. 65.25) (Code : 523736 & NSE) :- Dhunseri PetrochemLtd. manufactures and sells polyethylene terephthalate (PET) resins in India and internationally.The company's Petrochem division offers PET resins used for the manufacture of PET bottles thatare used in the packaging of mineral water, carbonated soft drinks, edible oil, cosmetics, toiletries,milk, hot-fill drinks, and juices. This division offers PET resins under the ASPET brand. Companyhas demerged its Tea division in Separate Company. It has also demerged its IT SEZ division toSeparate Company.

It has an equity base of just Rs.35.03crore that is supported by reserves of aroundRs.538.75crore. It has a share book value of Rs.240.

DPL has posted encouraging numbers in Q4FY15 as it notched net sales of Rs.644.35crorewith net profit of Rs.28.55crore posting an attractive EPS of Rs.8.15 from sales of Rs.978.89crorewith net profit of Rs.2.33crore in FY14. Remember after demerger of DHUNSERI PETROCHEM &TEA LTD in three separate companies, DHUNSERI PETROCHEM (DPL) has posted Q4FY15result as single entity. That's why company has reported lower sales.

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 19SMARTI N V E S T M E N TFor FY16, DPL can deliver net sales of Rs.3050crore and profit after tax of Rs.80crore translat-

ing into EPS of Rs.22.83. Script is trading at 6.06xFY15 EPS &2.9xFY16(E) EPS. It is regulardividend paying company. After demerger company has maintain its healthy dividend payout policy.With Q4FY15 Result Company has declares 40% dividend for FY15. At current share price, thisresults in a dividend yield of 6.15% which is really very encouraging. Company has fix book clo-sure date from 23rd July 2015.

Investors can buy this stock with stop loss of Rs.55. One the upper side it will zoom up to Rs.85--90 levels in medium term while it will zoom to Rs.125 levels in next 12 to 15 months.

Date Open High Low Close Diff11/05/2015 27,249.42 27,544.24 27,231.28 27,507.30 401.9112/05/2015 27,502.91 27,502.91 26,837.39 26,877.48 -629.8213/05/2015 27,023.71 27,299.80 26,750.01 27,251.10 373.6214/05/2015 27,290.17 27,293.99 26,948.62 27,206.06 -45.0415/05/2015 27,233.90 27,379.57 27,159.76 27,324.00 117.94

Net Weekly Gain 218.61NSE - Nifty Open High Low Close Diff11-May-15 8243.2 8332.75 8224.65 8325.25 133.7512-May-15 8326.15 8326.65 8115.3 8126.95 -198.313-May-15 8181.55 8254.95 8089.8 8235.45 108.514-May-15 8232.45 8236.25 8137.3 8224.2 -11.2515-May-15 8240.3 8279.2 8212.2 8262.35 38.15

Net Weekly Gain 70.85

Last Week Sensex, Nifty & Moves

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 20SMARTI N V E S T M E N TNIKHIL BHATT

(+919979380808)W W W . I N V E S T M E N T P O I N T . I N

PERIOD : 18-5-2015 to 22-5-2015

Nifty F&O Range @ 8373 point in short term Dear Friends,

NIFTY FO CLOSED @ 8260 AS ON 15.05.2015..!! NIFTY FO has resistance at 8282 - 8313Level; above which other resistance levels are at 8330 - 8366 Level with highly Volatile Trend, InDownside support levels are at 8230 - 8212 Level; below 8212 Level, other support levels are at8188 - 8173 Levels. I am positive for next week above 8366 Level but be with the trend. Let themarket decide further moves. As we are saying from many days Buying is suggested in fallsonly...and it's still a better strategy in the given Scenario...!!! Regarding long term positions, it ispreferable to remain cautious now...!!

If NIFTY crosses 8366 Level, again then the upper side target is quite high and it may touch8373 Level in short term...!!!

Golden Stocks for the period : 4-5-2015 to 8-5-2015

1. Sun Pharma (946) : It is suggested to buy @ Rs 953 with SL of Rs 933 for the target ofRs 966 - 977; below Rs 933 it can fall up to RS 913 - 903 levels. If it crosses Rs 977 level thanexpect nonstop rally up to Rs 988...!!

2. Tata Steel (364) : Operator based Game start in this stock, Buy @ Rs 373 With SL of Rs347 for the target of Rs 380 - 393 level below Rs 337 it can show further downfall up to Rs 327!!!

3. Andhra Bank (78) : Buy delivery of this stock near @ Rs 93 with SL of Rs 70 for thetarget of Rs 86 - 93 level. It is very good for medium term position also!!!

4. SKS Micro (459) : This stock is looking very good to buy @ Rs 466 with SL of Rs 444 forthe target of Rs 481 - 490 Levels below Rs 430 is stock shall witness free fall!!!

5. M & M Fin. (274) : Buy @ Rs 283 levels considering minor support of Rs 366 and stoploss of Rs 255 for an upper target of Rs 333 - 347 levels. Below Rs 255 it can slip up to RS 247 -240 levels!!!

6. ICICI Bnak (312) : Operator based buying has been there in this stock. Buy @ Rs 323with SL of Rs 290 for the target of Rs 330 - 344 levels it is very good for long term position also!!!

7. Bank of Baroda (160) : Trading point of view BUY @ Rs 171 With SL of Rs 147 for thetarget of Rs 183 - 191 level below Rs 138 It can show further downfall up to Rs 130..!!!

8. Den Network (142) : Buy delivery of this stock near @ Rs 153 with SL Rs 137 for thetarget of Rs 161 - 173 level. It's very good for long term position also!!!

9. PTC India (67) : For medium term buying is suggested @ Rs 73 with SL Rs 63 for thetarget of Rs 78 - 90 level. Below Rs 58 it can show further downfall!!!

10. HCL Techno (913) : It is suggested to SELL with SL Rs 921 for the target of Rs 903- 890 below @ Rs 890 it can slip up to Rs 883 - 877 level. Above Rs 928 level will take the stockto Rs 937 - 941!!!

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 21SMARTI N V E S T M E N TPrimary Market - Dilip K. Shah

More than two dozen companies all set to raise Rs9300 crore from the marketHowever discounted IPOs, depressed secondary market and China effect are cause of concern

Funny Software's BSE-SME IPO with fixed price of Rs14 entered into the marketUFO Movies IPO got listed in discount affecting moral of the market

PNC Infra issue gets poor response in retail category:Sail through with difficulties as it was managed by QIB

IOC and NTPC got cabinet approval to raise Rs13500 crore through disinvestmentFunny Software's IPO got 60% subscription on the first day

In PNC Infra refund/allotment may take place on 22/23, listing on 25/26Cartel for taking up UFO Moviez share prices to Rs650 after poor listing

Dr. Lal Pathlabs appoints investment bankers for Rs1200 crore IPONarayana Health wmay come up with Rs 1500 crore IPO by end of current financial year

BSE SME IPOSr Company Issue Open Dt. Issue size Offer price Minimum Applications Rating Remark

Issue Close Dt. (Rs. Cr.) (Rs.) %

1. Funny 14-5-2015 32,80,000 Eq. Rs. 14 Minimum Application Size ofSoftware Ltd. 20-5-2015 (Rs. 4.59 Cr.) 10,000 Eq. Shares (Rs. 1,40,000)

37 % PRICY

IPOs Name Offer Price Premium

(Rs.) (Rs.)

PNC Infra 355 to 378 DiscountDon't subscribe IPO only on the basis of Grey Markets

premium. Before Investing check the fundamentals of IPO

Grey Market Premium

IPO rally in the primary market has taken a break. The steep correction in the secondarymarket along with listing of IPOs at discounted rates has shaken faith of the investors resultinginto slow pace of new IPOs in the primary market. Still many companies are planning to enterinto the market with improvement in the overall sentiment in the share market along with thegovernment's planning to come up with a number of PSU disinvestment issues. It is believedthat more than a dozen companies are planning to raise nearly Rs9300 crore from the market.However, it is also believed that during May 7 to May 12, IPOs worth 3.7 trillion yen means$597 billion were to hit the bourse in the dragon land, which is nearly 11 times compared tomoney raised by India companies in last decade. Moreover, India's Forex reserves is alsodepleting. As Chinese companies are giving better returns the FIIs are pulling back their in-vestment from India to pour money in Chinese market. The china effect is felt on the Indianmarket.

Details of the companies which have obtained SEBI approval to come up with IPO is men-tioned in the separate box.

* Last week's issues and listing :- PNC Infra was in the market and UFO Moviez got listedduring last week.

PNC Infratech :- Rs488 crore issue that opened on May8 with offer price of Rs355 to Rs378 got closed on May 12.

Subscription :- IPO received poor response on the firstday and got only 0.01 times subscription. In this column ofSmart Investment, it was indicated that it will get poor re-sponse in HNI category and will be managed through QIB.

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 22SMARTI N V E S T M E N T

Subscription Figure of PNC InfratechSubscription Figure of PNC InfratechSubscription Figure of PNC InfratechSubscription Figure of PNC InfratechSubscription Figure of PNC InfratechNo. Shares Issue Subscribed

Offered/ Reserved 8-5-2015 9-5-15 10-5-15QIBs 25,74,342 0.00 0.21 4.51HNI 19,30,757 0.00 0.23 0.65Retail 45,05,098 0.02 0.06 0.28Employee 50,000 0.06 0.95 1.11Total 90,60,197 0.01 0.14 1.56

Listing Information ofUFO Moviez India

BSE Code 539141Listing Date 14-5-2015Offer Price Rs. 625.00Listing Price Rs. 600.00Listing Day High Rs. 623.00Listing Day Low Rs. 586.00Listing Day Close Rs. 598.80CMP (15-5-15) Rs. 610.25

Funny Software Eq. SharesMarket Makers 1,80,000Net Issue (Public) 31,00,000Total Size 32,80,000

City : NEW DELHIIPO Registrar : Skyline Services

Lead Manager : First Overseas Cap.

Co. Name Issue Amt.(Rs. Cr.)

AGS Transcat 1350Dilip Buildcon 750Nuziveedu Seeds 700Navkar Corp. 600Catholic Syrian Bank 400Syngene International 400Prabhat Dairy 275Precision Camshafts 250S H Kelkar & Co. 250Shree Shubham Logistics 210SSIPL Retail 95Numero Uno Clothing 70Amar Ujala Publications 60Pennar Engineered 50

IPOs awaiting approvalCo. Name Issue Amt.

(Rs. Cr.)Rashtriya Ispat Nigam 1500Lavasa Corp. 750Sadbhav Infra 650Manpasand Beverages 400Power Mech Projects 180Uniparts India 155SMC Global 125Shree Pushkar Chemicals 75ABC (India --

IPOs Approved by SEBIOn the last day of subscription it got 4.51times subscription in QIB, 0.65 times inHNI, 0.28 times in retail and 1.11 times inemployee quota taking overall subscrip-tion to 1.56 times.

Discovery price :- As against priceband of Rs355 t 378, the discovery pricecould be around Rs355.

Allotment-refund :- Allotment maytake place on May 22/25.

Listing :- The issue may get listed on May 25/26 at discountedrates.

UFO Moviez Listing (539141) :- The issue with offer price ofRs600-625 got listed on May 14 at rate of Rs600 but it went down

further to Rs623 and Rs586 and ultimately closed at rate of Rs598.80. On May 15, the stockclosed at Rs610.25. It is believed that the target is to take the stock at level of Rs650 providedthe market sentiments are favourable.

* This week's new issues :- Only one issue of BSE-SME platform is in the market. Funny Software Ltd :- The issue with fixed price of Rs14 has entered into the market

offering 32.80 equity shares to raise Rs4.59 crore fund. It is believed that the issue got 60%subscription on the first day. It will close on May 20. More details are given in a separate box.

* PSU Disinvestment issues :- The central cabinet has grantedpermission to NTPC and Indian Oil Corporation for disinvestment of5% and 10% stake respectively. It will fetch around Rs13500 crore inthe government coffer. Currently, IOC's share price is Rs326.70 whichwill fetch around Rs7915 crore to the company. NTPC's share priceis 134.80, which will help it to raise Rs5570 crore. The governmenthas fixed target of raising Rs41000 crore through disinvestment.

* New issues :- Dr. Lal Pathlabs :- Diagnostics and Pathology services com-

pany Dr. Lal Pathlabs has appointed Kotak Investment Bank and CityInvestment Bank as the investment bankers for Rs1000 to Rs1200crore IPO. The issue may enter into the market in the last part offinancial year.

Narayana Health :- Backed by CDC and J.P.Morgan along withother private equity players the multi-specialty and super specialtyhospital chain may come up with Rs1200-1500 crore IPO.

SPARC :- The company known as Sun Pharma Ad-vance Research demerged from Sun Pharma. At theboard meeting on May 12, the company has decided tocome up with Rs250 crore rights issue. The record datewill be declared later on.

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 23SMARTI N V E S T M E N TFunny Software IPO opens on 14th May & Closes on 20th May

Price band Fixed Rs. 14 : Listing on BSE - SME PlatformFunny Software Ltd (FSL) is engaged in the providing IT services, consulting and business solu-

tions organization and delivering results to its valued clients. The company also operates as resellerorganization by a team of dynamic professionals with marketing, sales and technical know-howspread across various industries. It predominantly caters to Delhi and nearby markets and act as ITDistribution space. Going forward, FSL plan to increase its product portfolio and also plans to pen-etrate in new markets.

FSL has a comprehensive portfolio of product offerings covering desktop, laptops, servers, HardDisk Drives, Scanners, Memory Modules and Cards, USB Drives, Speakers, Optical Media, Cas-ings, Electronic Copy boards, Clear One Audio Conferencing, Elmo Document Camera etc.

Advisors and consultants in respect of matters relating to Computer hardware software computeraided Programmes.

To part finance acquisition of certain fixed assets and needs for incremental working capital aswell as general corpus funds, it is coming out with a maiden IPO of 3280000 equity share of Rs. 10each at a fixed price of Rs. 14 per share to mobilize Rs. 4.59 crore. Issue opens for subscription on14.05.15 and will close on 20.05.15. Minimum application is to be made for 10000 shares and inmultiples thereon, thereafter. Issue is lead managed by First Overseas Capital Ltd and SkylineFinancial Services Pvt Ltd is the registrar to the issue. Post allotment, shares will be listed on BSESME platform. Issue is fully underwritten by two underwriters.

Financial Performance : On performance front, the company that started its operations in mid2012-13 earned net profit of Rs. 0.003 crore on a turnover of Rs. 0.85 crore. For fiscal 2013-14 ithas marked net profit of Rs. 0.04 crore on a turnover of Rs. 3.38 crore and for first nine monthsended 31.12.14 it has earned net profit of Rs. 0.04 crore on a turnover of Rs. 2.76 crore.

Note : The company issued 86500 shares of Rs. 10 each at a price of Rs. 200 per share on25.03.08 and then issued bonus shares in the ratio of 17 for 1 on 12.10.13. Thereafter it furtherissued at par equity worth Rs. 7.33 crore plus on 25.10.13 and 02.09.14 to take it's paid up equitycapital to Rs. 9.07 crore.

If we annualized these earnings, then EPS for fiscal would be around Rs.0.06. And post issue itsequity of Rs. 9.07 crore will jump to Rs. 12.35 crore that will translate it in to an EPS of Rs. 0.04indicating for its issue price at a P/E of 350.

Recommendation : We have witnessed erratic movements of SME IPOs post listings despitemarket making that might have helped in listing gains, but later on regular trading remains a far cry.Due to this and the entry barriers, broking community at large discourages investments in SMEIPOs.

Merchant Bankers Performance : Merchant banker has poor track record.

DISCLAIMER : No financial information whatsoever published anywhere here should be construedas an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter publishedhere is purely for educational and information purposes only and under no circumstances should beused for making investment decisions. Readers must consult a qualified financial advisor prior to mak-ing any actual investment decisions, based on information published here. As SME issues have entrybarriers and low preference from broking community, any reader taking decisions based on any infor-mation published here does so entirely at own risk. Author has no plans to invest in this offer.

- By Dilip Davda (Email: dilip_davda@rediffmail.com)

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 24SMARTI N V E S T M E N TIPO Greedy pricing set to play a spoil sport

- By Dilip DavdaWell, on one hand secondary market is heading for correction on MAT issue and poor Q4 numbers,

primary market operators are expecting hectic moments, but then, fancy pricing is likely to play a spoil sportas has happened in the recent past. If we take faring of IPOs since December 2014 then disaster startedwith Monte Carlo (7.83 times) but got listed at heavy discount. IPO of NCML stood withdrawn as it failed togarner minimum subscription even after lowering the price band and extension for subscription. Then itwas Ortel Communication (0.76 times with modified price band and the size of offer) and Adlabs Entertain-ment (1.11 times with lowering of price band and extension of subscription period) and both failing toperform post listings. But thereafter Inox Wind (18.60 times) and VRL Logistics (74.26 times) once againattracted good response and even quoted at premium to offer price post listings that tempted merchantbankers and promoters to resort to greedy pricing as usual and that has started taking toll once again. Butdue to greedy pricing MEP Infra IPO just got scrapped through with just 1.11 times subscription and UFOMoviez has received below expected response of just 2.04 times till 19.30 hrs as per NSE web. And thenPNC Infratech IPO that was also considered a pricy bet met with lukewarm response with just 1.56 timessubscription in which HNI and Retail quota remained undersubscribed. With this kind of atmosphere, willprimary market be able to mobilize the desired funds is a million dollar question.

Section of Merchant Bankers did boosted the sentiment citing examples of Coal India OFS and SunPharma (Daiichi sale out) but they are forgetting that such offers went through only at heavy discount to itsmarket prices. In case of Coal India local DIIs and insurance companies helped it scrape through and forSun Pharma FII/DII supported the counter as it was being offered at a 10% plus discount and having strongfundamentals.

But due to very high pricing UFO IPO suffered and was just managed with bunch of informed investorsto get it subscribed around 1 time in HNI and Retail category. QIBs did responded well, but according tomarket pundits if this issue would have been priced at or below Rs. 500, perhaps it would have createdanother record outperforming VRL Logistics as its revenue model was well digested by the investors acrossthe category. UFO Moviez too suffered due to its greedy pricing and on the debut day it closed at a discountof 4.19% to its offer price. This has slapped on the face of merchant bankers who were boosting theiroverconfidence on pricing of this IPO. PNC Infratech too is set to follow the footsteps with poor perfor-mance post listing, opine primary market observers.

So if merchant bankers and promoters continue to price their IPOs with greed, it is sure to play a spoilsport and primary market may once again have lull season going forward. Let us hope that the lobby ofmerchant bankers takes a lesson from disaster NCML Ind and then failure of of Monte Carlo, Ortel, Adlabs,post listing and IPOs of MEP Infra managing to scrap through and UFO Moviez - PNC Infratech subscribingjust around 2 times. Although we had few exceptional cases like Inox Wind, VRL Logistics but there againthe fundamentals were supportive and issues were considered as reasonable priced. MEP failed to live upto confidence of hurried bunch of Anchor Investors who having burnt their fingers in Monte Carlo, Ortel,Adlabs and UFO Moviez did not learnt any lesson. Their act has now raised eyebrows amidst its class ofinvestors. According to market sources, some of investors are gearing for action against such AnchorInvestors with whom they parked their funds.

If merchant bankers play their role in reasonable pricing of IPO leaving something for the new entrants,then it will a win-win situation for one and all. Let us hope that promoters and merchant bankers resort tointerest of investors at heart. And if they fail on this count, then let SEBI take the onus of rule framing thepricing formula, which has remained unattended for quite long. It is high time for merchant bankers to takeinvestor friendly route for any IPO and leave something on table for the new investors. If they will continueto stick to their greedy tactics, they will again burn their fingers and may not be able to mobilize Rs. 25000crore plus funds from IPOs.

According to market sources, when an IPO is having offer for sale in full or part, there should be discountoffer for retail masses and where it is fresh issue in Toto, safety net should be implied once again till SEBIcomes out with a free pricing formula. Let there be discount to retail investors, grading of IPO and Safetynet be in place once again otherwise the primary market that has just started raising its head may nose diveand we are back to square one.

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 25SMARTI N V E S T M E N TSmart Best Buy S. N. ZaveriCentum Electronics jumps on better prospects

HUL reports much better Q4 numbers : AccumulateTalwalkars Better Value Fitness : Better Value in the stock

Dr. Reddys Lab : Prescribed for your portfolioBajaj Auto will rally on new launches and export

Centum Electronics (Rs. 761.00) (Code : 517544) :- Centum Electronics hasreceived new orders worth Rs 1 billion from an Indian Defence Enterprise for the development anddelivery of mission critical subsystems. The deliveries are required to be completed over a periodof two years. Centum has rapidly grown into a diversified electronics company operating acrossdifferent industry segments and offering a broad range of products and services. It has continu-ously invested in strengthening its design & product development capabilities. Centum Groupsoffers range from customized product design & development, manufacturing services and turnkeysolutions for mission-critical applications in the Defence, Aerospace, Space, Industrial, Medicaland Communications markets. Strategic Electronics Business Unit (SEBU) is responsible for de-sign, development and manufacture of Electronic Modules, Subsystems and High End Microelec-tronic Circuits. The products designed and manufactured are primarily for the Defense, Aero-space and Space segments. Joint venture between Centum Electronics Ltd India and Rakon LtdNew Zealand, is engaged in the design and manufacturing of high performance frequency controlproducts for the Telecommunications, Industrial, Defense, Aerospace and Space markets. Thestock has jumped more than 15 per cent in last five trading sessions. Grab this momentum stock.

HUL (Rs. 845.00) (Code : 500696) :- : Hindustan Unilever has reported much betterQ4 results. Aided by an exceptional gain of Rs 179.4 crore from the sale of properties, its net profitrose 17 per cent year-on-year for the quarter ended March to Rs 1,018 crore. It was Rs 872 crorein the year-ago period. Net sales grew 9 per cent to Rs 7,555 crore during the quarter, as volumegrowth picked up for the period under review. Volume growth was 6 per cent for HUL during thefourth quarter, the highest for the company in FY15.the last three quarters, HUL's volume growthhovered between 3 per cent and 5 per cent as the company battled a consumer slowdown.HUL'soperating profit, interestingly, climbed 22.3 percent year-on-year to Rs 1,318 crore and marginexpanded by 200 basis points to 17.2 per cent despite higher advertising expenses. HUL hasidentified 13 new segments like handwash, body wash, face wash, tea bags, soups, fabric condi-tioners, hair conditioners, etc as segements of the future. HUL stock has been in strong consolida-tion mode which might end soon and the stock will move further anytime soon. Accumulate.

Talwalkars Better Value Fitness (Rs. 340.00) (Code : 533200) :- TalwalkarsBetter Value Fitness stock jumped almost 10% on strong Q4 numbers. Its consolidated net profitrose 20% to Rs 18 crore on 17% rise in net sales to Rs 77 crore in Q4 March 2015 over Q4 March2014. On a consolidated basis, Talwalkars Better Value Fitness' net profit rose 26% to Rs 46 croreon 21% rise in net sales to Rs 253 crore in the year ended March 2015 over the year ended March2014. Talwalkars Better Value Fitness is India's largest fitness chain with over 150 gyms across78 cities, offering a diverse set of services including gyms, spas, aerobics and health counselingunder the brand 'Talwalkars' to an active member base of over 1,25,000 members. The small-capcompany has an equity capital of Rs 26.18 crore. Face value per share is Rs 10. Buy.

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 26SMARTI N V E S T M E N TDr. Reddys Lab (Rs. 3491.00) (Code : 500124) : Dr. Reddy's Laboratories re-

ported 8 per cent annual growth in its consolidated net profit for the January-March on the back ofstrong growth in its revenues. Dr. Reddy's Laboratories reported a net profit of Rs 519 crore oversales of Rs 3,870 crore in the quarter ended March 31, 2015. Dr. Reddy's net profit in the Marchquarter was impacted by forex losses of Rs 84.3 crore high research & development (R&D) ex-penses which came in at Rs 514 crore against Rs 398 crore year-on-year. Operating profit (EBITDA)was Rs 810 crore against Rs 781 crore year-on-year and operating margin declined 80 basispoints annually to 21 per cent. The company has declared a dividend of Rs 20 per share. Thestock is attractively valued at this level. Buy.

Bajaj Auto (Rs. 2181.00) (Code : 532977) : Two-wheeler major Bajaj Auto is look-ing at increasing its total market share in the segment to nearly 23 per cent over the next one year.It currently has a market share of 17 per cent in the overall two-wheeler segment and competeswith the likes of Hero, Honda and TVS. The company has launched new Pulsar range AS 200,AS 150 and RS 200. The company is considering offerings in the 350 to 400 cc category, but didnot reveal any time frame for a possible launch.Bajaj Auto may soon sell more motorcycles inoverseas markets than it does at home.Of the 2,76,000 bikes that the company sells on an aver-age every month, it currently exports around 1,30,000 bikes. Given the sluggish growth in thedomestic market against the exports that have been growing at a fine clip. The expectation offurther rate cut will benefit the company. The stock is trading at Rs. 2165 which looks reasonable.Buy.

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1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 27SMARTI N V E S T M E N TDalal Street Whispers

Dhanlaxmi Bank (Rs. 36.00) (Code: 532180) :- This private sector bank has reg-istered profit of Rs. 125 crore in the first nine months of the fiscal as against loss of Rs. 117 crorelast year. The bank has registered net profit in spite of rising bad loans. The bank's net NPA hasdeclined. Upward movement is likely to be seen in anticipation of strong Q4 numbers.

Crompton Greaves (Rs. 173.00) (Code: 500093) :- Trading volumes on the counterhave gone up in the last few days. However, the price has remained range-bound. It is believedthat some big players are taking long position on the counter. This can be a big trigger for shortterm gain in the stock.

Pennar Ind. (Rs. 51.35) (Code: 513228) :- There was a good correction in the stockin the recent past. Market players used this opportunity to buy the stock in large numbers and totake long positions. The stock can deliver good returns in the short term.

Camlin Fine (Rs. 94.00) (Code: 532834) :- This specialty chemicals producer isplanning to set up a new plant at Dahej at an investment of Rs. 193 crores. The plant will help thecompany scale up its capacities.

Uniply Ind. (Rs. 19.00) (Code: 532646) :- The company's open offer to acquire up to26% stake at Rs. 13.50 per share opened on Thursday and will close on May 27. Around 5,600individual shareholders own 50% stake in the company. The stock will remain in focus due to theopen offer.

Virtual Global Education (Rs. 15.00) (Code: 534741) :- Asia Investment Corpo-ration, Mauritius, acquired 25.35 lakh shares at Rs. 13.8 per share of this education sector com-pany at the beginning of last week. It acquired 26 lakh more shares the next day. The check-in byFIIs is expected to lead to follow-up buying in the stock.

Suzlon Energy (Rs. 25.00) (Code: 532667) :- Suzlon Energy has bagged a 90 MWorder from REPower. This is a repeat order, which indicates that Suzlon is regaining trust. Thestock can show some current.

Man Ind. (Rs. 70.00) (Code: 513269) :- This saw-pipe manufacturer has reportedstrong performance for the fourth quarter. Net profit has jumped 15 times to Rs. 45 crores. Com-pany has also recently bagged a Rs. 510 crores order in oil & gas sector, taking its order book toRs. 1,300 crores. The stock can be seen consistently outperforming.

Subex (Rs. 13.00) (Code: 532348) :- This IT company's share was an underperformerlast year and declined to new lows due to poor performance. However, big changes in the man-agement and the board has led to improved performance. For the March quarter, company re-ported net profit of Rs. 10.20 crores as against loss of Rs. 11.61 crores in the same quarter of lastyear, thus achieving turnaround position. The stock can be seen bottoming out as its performanceimproves in coming quarters.

Jubilant Ind. (Rs. 163.00) (Code: 533320) :- Recently, Aditya Birla Retail acquiredthe hypermarket business of Jubilant Industries. As per the deal, AB Retail will acquire fourhypermarket stores in Bangalore. Experts believe the stock is still undervalued, and peg the worthof the share at Rs. 600.

1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 28SMARTI N V E S T M E N TVoltas (Rs. 289.00) (Code: 500575) :- The company has 25% share of AC market

and is launching new products to expand its portfolio. Leading fund managers are bullish on thestock.

Kokuyo Camlin (Rs. 93.00) (Code: 523207) :- Promoter holding in this stationarysegment company is 75%. Japanese promoter holds controlling stake. The stock is on the radarafter registering turnaround results.

ADF Food (Rs. 71.00) (Code: 519183) :- This packaged foods company has a solidbusiness model. Promoters are increasing their stake. Recently, they acquired 2 lakh shares fromthe open market.

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1818181818ththththth May to 24 May to 24 May to 24 May to 24 May to 24ththththth May 2015 May 2015 May 2015 May 2015 May 2015 29SMARTI N V E S T M E N THigh Risk High Return Shares

Zydus Wellness (Rs. 971.00) (Code: 531335) :- According to a leading brokeragehouse, this stock is a safe bet in these uncertain times. Aggressive buying has been seen on thecounter in the past few trading sessions.

GE Shipping (Rs. 354.00) (Code: 500620) :- The stock has been in a tight range inspite of very good performance in the fourth quarter. A leading fund house has taken long positionon the counter. In spite of all the problems in the sector, the stock can be seen outperforming.

Sequent Scientific (Rs. 572.00) (Code: 512529) :- This company was known asPI Drugs earlier. Company has increased FII investment limit to the tune of 32.46% of the paid-upcapital, putting it on investors' radar.

Glenmark Pharma (Rs. 907.00) (Code: 532296) :- A leading foreign brokeragehouse has given a buy rating to Glenmark Pharma, which has led to some movement on the stock.

Dalmia Bharat (Rs. 504.00) (Code: 533309) :- This Dalmia group