Author: Maitri Parikh

Kalyan Jewellers Limited IPO – Date, Price, Review & Details

Maitri Parikh

View – Long Term Investors Can Apply

Issue Highlights

Kalyan Jewellers is one of India’s largest Jewellery companies, hitting the market to raise INR 1,175 Crs through this offer.

It designs, manufactures, and sell a variety of gold, embossed and other jewellery products.

Equity shares worth INR 2 crores are reserved for eligible employees.

Issue Details

Company Strengths

  • Established brand built on the core values of trust and transparency.
  • One of India’s largest jewellery companies with a pan-India presence
  • Hyperlocal strategy enabling to cater to a wide range of geographies and customer segments
  • Extensive grassroots “My Kalyan” network with strong distribution capabilities
  • Visionary Promoters with strong leadership qualities
  • Wide range of product offerings

Valuation

The company is getting listed at a PE of 51.2 on the basis of FY 20 EPS, at upper price band, against sector PE of 11.91.

Issue Break-Up

Utilization of Fresh Issue Funds

Background highlights of the company in brief

  • Incorporated in the year 1993 with only a single showroom in Thrissur, Kerala, Kalyan Jewellers Limited has now become one of the largest jewellery companies in India based on revenue as of March 31, 2020, according to the Technopak Report.
  • The company has around 107 showrooms located across 21 states & union territories in India, and also have an international presence with 30 showrooms located in the Middle East as of December 31, 2020.
  • Its geographical bounds has reached and is expanding into new markets across India, GCC, USA, Singapore, Malaysia, Sri Lanka and more.
  • The company’s total showrooms have increased from 77 as of March 31, 2015 to 137 showrooms as of December 31, 2020, and it intend to continue to open additional showrooms as it expects significant opportunity for further penetration in its existing markets as well as in new markets, primarily in India.
  • The company designs, manufactures and sells a wide range of gold, studded and other jewellery products across various price points ranging from jewellery for special occasions, such as weddings, which is its highest-selling product category, to daily-wear jewellery.
  • Along with gold, it also offers an array of traditional and contemporary jewellery designs in diamonds, precious stones and other precious metals.
  • 74.77% and 75.88% of the company’s revenue from operations in Fiscal 2020 and in the 9M December 31, 2020 respectively, was from the sale of gold jewellery, 23.36% and 21.72%, respectively, was from the sale of studded jewellery (which includes diamonds and precious stones), and 1.87% and 2.40%, respectively, was from the sale of other jewellery.
  • The company’s “My Kalyan” network consists of multiple service centres that are located in a wide radius around most of its showrooms.
  • As of December 31, 2020, the company had 766 “My Kalyan” locations and 2,699 dedicated “My Kalyan” employees.
  • The company’s “My Kalyan” network contributed 17.02% and 20.82% of its revenue from operations in India and 30.88% and 36.02% of the enrolment to its purchase advance schemes in India in Fiscal 2020 and in the 9M December 31, 2020 respectively.
  • The company was awarded the Superbrands title of being ‘India’s most preferred jewellery brand in Fiscal 2020.

Briefing about directors & key managerial personnel

Briefing Financials

Balance Sheet

Statement of Profit and Loss

Key Ratios

#beelinebroking #IPO #KalyanJewellers #KalyanJewellersIPO #Gold #Diamond #PreciousMetals #Ornaments #GoldJewellery #investing #profit #business #trader #stock #sharemarket #daytrader #daytrading #wealth #stockmarketnews #success #Bse #Nse

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Laxmi Organic India Ltd IPO – Date, Price, Review & Details

Maitri Parikh

View – Long & Short Term Investors Can Apply

Issue Highlights

Laxmi Organic Industries is a specialty chemical manufacturer, based in Mumbai and having domestic and international operations (Europe, UAE and China). It is set to raise INR 600 Crs through an initial offer.

Issue Details

Company Strengths

  • Leading manufacturer of ethyl acetate with significant market share
  • Only Indian manufacturer of diketene derivatives; significant market share; the largest portfolios of diketene products.
  • Diversified customer base across high growth industries
  • Strategically located manufacturing facilities, vertical integration and supply chain efficiencies
  • In-house research and development capabilities
  • Global presence and low geographical concentration
  • Differentiated business model, asset base and product mix

Valuation

The company reported its EPS for FY 20 at 2.86, bringing its PE at 45.45 at upper price band, against the sector PE of 44.52. It is fairly priced.

Issue Break-Up

Utilization of Funds

Background highlights of the company in brief

  • Incorporated in 1989, Laxmi Organic India Ltd. is a leading manufacturer of Acetyl Intermediates and Specialty Intermediates with almost three decades of experience in large scale manufacturing of chemicals.
  • It is currently among the largest manufacturers of ethyl acetate in India with a market share of approx. 30% of the Indian ethyl acetate market. Post the acquisition of YCPL, the company’s market share in the ethyl acetate market will be further enhanced.
  • In FY 2010, the company commenced the manufacturing of Specialty Intermediates by acquiring Clariant’s diketene business.
  • It is the only manufacturer of diketene derivatives in India with a market share of approx. 55% of the Indian diketene derivatives market in terms of revenue in FY 2020 and one of the largest portfolios of diketene products.
  • The company’s Acetyl Intermediates include ethyl acetate, acetaldehyde, fuel-grade ethanol & other proprietary solvents, while the Specialty Intermediates comprises of ketene, diketene derivatives namely esters, acetic anhydride, amides, arylides & other chemicals.
  • It has significantly expanded its scale of operations & global footprint with customers in over 30 countries including China, Netherlands, Russia, Singapore, United Arab Emirates, United Kingdom & USA.
  • Currently, it has two manufacturing facilities in Mahad, Maharashtra, with one facility dedicated to Acetyl Intermediates and another to Specialty Intermediates, which are strategically located in proximity to several ports and each other.

Briefing about directors & key managerial personnel

Briefing Financials

Balance Sheet

Statement of Profit and Loss

Key Ratios

#beelinebroking #IPO #LaxmiOrganic #LaxmiOragnicIPO #Chemicals #SpecialtyChemical #EthylAcetate #DiketeneDerivatives #Intermediaries #investing #profit #business #trader #stock #sharemarket #daytrader #daytrading #wealth #stockmarketnews #success #Bse #Nse

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Nifty Bullish Above 15,275, Bearish Below 15,000

Maitri Parikh

During the previous weekly trading session, equity markets witnessed a high volatility in the start of the week and then started to trade sideways to marginally positive as the investors didn’t get a clear indication regarding the trend of the market. Sensex and Nifty touched the lows of 50,318 and 14,920 on Monday and Highs of 51,430 and 15,218 respectively on Wednesday. On Wednesday, the investors were not keen to carry positions due to the bank holiday on Thursday.

The markets are on their way to recover the losses of the previous week’s trading session, but at a slower pace. India’s Markit Services PMI numbers for the month of February 2021 came in better than expected, which uplifted the investors’ sentiments, as it indicates improvement in economic health of the country. Also, because of mixed global cues, the market failed to give any clear indications for the trend. Equity markets seems to be in a consolidation phase.

As far as sectoral indices are concerned, Bank Nifty gained more than 2% during the week, with Private Banks and PSU Banks gaining approximately 2.0% and 0.5% respectively. The rise in private banks was after the announcement of our Financial Minister Nirmala Sitharaman, that the embargo on private banks was lifted up, which means that now eve private banks can carry out government-related banking transactions such as taxes and other revenue payment facilities. Nifty Financial Services also gained more than 2.1%. Nifty IT gained 3.1%, Nifty Pharma gained 1.0%, whereas, Nifty FMCG, Nifty Metal and Nifty Auto hardly managed to closed in green. Nifty Energy (-0.5%), Nifty Media (-0.1%) and Nifty Realty (-1.5%) lost during the week.

For the upcoming week, the equity market is expected to come out of its consolidation phase. Investors need to keep an eye on India’s industrial production data, WPI manufacturing data, Inflation rate data which will be released in the upcoming week as they will affect the equity markets. Technically, indices needs to sustain above the levels of 15,180/51,275 to confirm its bullish trend and we may see Nifty nearing the levels of 15,300 in the near future. However, if the indices breaks the levels of 15,000 and sustains below that, then it confirms a bearish trend.

Page 8, NavGujarat Samay, 12th March’21.

#beelinebroking #stockmarket #stocks #investing #trading #money #investment #finance #forex #investor #business #trader #stock #sharemarket #daytrader #nifty #daytrading #sensex #success #nse #NGS #NavGujaratSamay

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Morning Market Insight Report – 12 Mar 2021

Maitri Parikh

Bank Nifty Intraday Outlook

In Wednesday’s trading session, Bank Nifty gained 0.20%, with PSU Banks losing 0.15% and Private Banks gaining 0.30%.

We expect intraday range could be 35,533 to 36,388 with sideways to positive momentum & broader range could be expected between 35,249 to 36,677 zone for this week.

Nifty Intraday Outlook

In Wednesday’s trading session, Nifty witnessed a steep fall for the second consecutive trading session.

We expect intraday range could be 15,006-15,398 with sideways to positive momentum while broader range could be 14,813 to 15,581.

Short and Long term moving averages

Daily market statistics

Major global & domestic economic events

#beelinebroking #morningbreakfast #stockmarket #stocks #investing #trading #money #investment #finance #trader #stock #sharemarket #daytrader #nifty #sensex #nse

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Craftsman Automation Limited IPO – Date, Price, Review & Details

Maitri Parikh

View – Long & Short Term Investors Can Apply

Issue Highlights

Craftsman Automation Ltd is considered to be among top 5 automation companies in India and is coming with a public offer to raise around INR 824 crores.

Issue Details

Company Strengths

  • Strong in-house process & product design capabilities.
  • Long term & well established relationships with marquee domestic and global OEMs.
  • Wide manufacturing trail; strategically located manufacturing facilities.
  • Experienced management team supported by motivated & skilled work force
  • Robust financial performance

Valuation

The company is getting listed at a forward FY 21 P/E of 44.4 at upper price band, against sector PE of 61.61. It is getting listed at attractive valuation.

Issue Break-Up

Utilization of Funds

Background highlights of the company in brief

  • Incorporated in 1986 as a small scale industry in South India, Craftsman Automation has grown to become a leader in precision manufacturing in diverse fields.
  • It is a diversified engineering company with vertically integrated manufacturing capabilities, engaged in three business segments, namely powertrain and other products for the automotive segment (“Automotive – Powertrain and Others”), aluminum products for the automotive segment (“Automotive – Aluminum Products”), and industrial and engineering products segment (“Industrial and Engineering”).
  • Craftsman is the largest player involved in the machining of cylinder blocks and cylinder heads in the intermediate, medium and heavy commercial vehicles segment as well as in the construction equipment industry in India.
  • The company’s solutions include design, process engineering and manufacturing including foundry, heat treatment, fabrication, machining, and assembly facilities.
  • The company’s key products in Powertrain segment includes engine parts such as cylinder blocks and cylinder heads, camshafts, transmission parts, gear box housings, turbo chargers and bearing caps.
  • It has its geographical presence in cities including Coimbatore, Chennai, Pune, Indore, Jamshedpur, Faridabad and Bangalore.
  • It owns and operates 12 strategically located manufacturing facilities across seven cities in India, with a total built up area of over 1.5 million sq. ft.
  • The company’s key customers includes Daimler India, Tata Motors, Tata Cummins, Mahindra & Mahindra, Simpson & Co. Limited, TAFE Motors and Tractors, Escorts, Ashok Leyland, Perkins, Mitsubishi Heavy Industries, John Deere and JCB India.
  • The company has a wholly-owned overseas subsidiary, Craftsman Europe B.V., set up in 2008 in Netherlands, through which it is engaged in marketing, sales and servicing of marine engines and other associated equipment used in yachts.
  • Its sales volume, in terms of tonnage, from the Automotive – Aluminum Products segment was 9,339.32 tones, 12,596.22 tones, 18,863.83 tones and 11,819.04 tones for the nine months ended December 31, 2020 and Fiscals 2020, 2019 and 2018, respectively.
  • The company’s EBITDA Margin was 28.81%, 27.24%, 25.12% and 20.19%, for the nine months ended December 31, 2020 and Fiscals 2020, 2019 and 2018 respectively, having increased at a CAGR of 16.15%, from Fiscal 2018 to Fiscal 2020.

Briefing about directors & key managerial personnel

Briefing Financials

Balance Sheet

Statement of Profit and Loss

Key Ratios

#beelinebroking #IPO #CraftsmanAutomation #CraftsmanIPO #Automation #Engineering #Powertrain #Aotomotive #Aliminum #CommercialVehicles #investing #profit #business #trader #stock #sharemarket #daytrader #daytrading #wealth #stockmarketnews #success #Bse #Nse

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Anupam Rasayan India Limited IPO – Date, Price, Review & Details

Maitri Parikh

View – Long & Short Term Investors Can Apply

Issue Highlights

After its inception in 1984, Anupam Rasayan India has become one of the leading manufacturer of life science related specialty chemicals, and is all set to hit the capital markets.

The issue includes a reservation of up to 220,000 equity shares for subscription by eligible employees, at a discount of INE 55 per share.

Issue Details

Company Strengths

  • Strong & long-term relationships with diversified customers across geographies with significant entry barriers
  • Diversified and customized product portfolio with a strong supply chain
  • Consistent track record of financial performance
  • Core focus on process innovation through consistent R&D, value engineering and complex chemistries

Valuation

The company reported its EPS at 6.94, bringing the IPO valuation to a P/E of 79.97 at upper price band, against sector PE of 50.62. Though it is costlier, we are positive towards the issue based on its strong operations and global presence.

Issue Break-Up

Utilization of Funds

Background highlights of the company in brief

  • Incorporated as a partnership firm in 1984 as a manufacturer of conventional products, Anupam Rasayan India Limited is one of the leading companies engaged in the custom synthesis and manufacturing of life science related specialty chemicals and other specialty chemicals in India.
  • The company has two distinct business verticals: (i) Life science related specialty chemicals comprising products related to agrochemicals, personal care and pharmaceuticals, and (ii) Other specialty chemicals, comprising specialty pigment and dyes, and polymer additives.
  • In FY 20 and in the 6M September 20, revenues from its life science related specialty chemicals vertical accounted for 95.37% and 92.48%, respectively, of its revenue from operations, while revenue from other specialty chemicals accounted for 4.63% and 7.52%, respectively, of its revenue from operations.
  • The company has developed strong and long-term relationships with various multinational corporations, including, Syngenta Asia Pacific Pte. Ltd., Sumitomo Chemical Co. Ltd., and UPL Ltd. that has helped the company expand its product offerings and geographic reach across Europe, Japan, US and India.
  • In the 6M September 20, the company manufactured products for over 45 domestic and international customer, including 15 multinational companies. The Government of India has also recognized the Company as a three star export house.
  • The company has a dedicated in-house R&D facility and a pilot plant located at Sachin Unit – 6, which is equipped with laboratories engaged in process development, process innovation, new chemical screening and engineering, which assists in pursuing efficiencies from the initial conceptualization up to commercialization of a product.
  • It has expanded its commercialized product portfolio from 25 products in FY 18 to 34 products in FY 20 and 36 products in the 6M September 20.
  • As of September 30, 2020, the company operated six multi-purpose manufacturing facilities in Gujarat, with four facilities located at Sachin and two located at Jhagadia and an aggregate installed capacity of 23,438 MT.
  • India’s specialty chemicals industry is expected to grow at a CAGR of approximately 10% to 11% over the next five years, due to rising demand from end-user industries, along with tight global supply on account of stringent environmental norms in China.

Briefing about directors & key managerial personnel

Briefing Financials

Balance Sheet

Statement of Profit and Loss

Ratios

#beelinebroking #IPO #AnupamRasayan #AnupanRasayanIPO #LifeScience #Chemicals #SpecialtyChemicals #Dyes #Pigments #Polymer #investing #profit #business #trader #stock #sharemarket #daytrader #daytrading #wealth #stockmarketnews #success #Bse #Nse

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Morning Market Insight Report – 10 Mar 2021

Maitri Parikh

Bank Nifty Intraday Outlook

In yesterday’s trading session, Bank Nifty gained 0.14%, with PSU gaining 1.60% and Private Banks losing 0.09%.

We expect intraday range could be 35,451 to 36,366 with sideways to positive momentum & broader range could be expected between 35,173 to 36,649 zone for this week.

Nifty Intraday Outlook

In yesterday’s trading session, Nifty witnessed a steep fall for the second consecutive trading session.

We expect intraday range could be 14,892-15,348 with sideways to positive momentum while broader range could be 14,717 to 15,483.

Short and Long term moving averages

Daily market statistics

Major global & domestic economic events

#beelinebroking #morningbreakfast #stockmarket #stocks #investing #trading #money #investment #finance #trader #stock #sharemarket #daytrader #nifty #sensex #nse

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Crude Oil Rises as OPEC Kept April Output Quota Unchanged Against the Expectations of Ease in Output Cuts

Maitri Parikh

In the previous week, all base metals including Aluminum (-1.5%), Copper (-4.2%), Lead (-4.4%) and Zinc (-2.9%) closed in red, snapping its three weeks’ winning streak, with bears taking over the control of commodities’ market. Iron ore stood out of the pack, gaining by 2.6% during the week. Precious metals, gold and silver also kept retreating during the whole week, losing 3.9% and 5% respectively.

Gold and silver have been experiencing a bloodbath since the announcement of Union Budget 2021. Both the precious metals has been continuously witnessing a selling pressure, weighed by the growth outlook, which is becoming optimistic for the global economy. Alongside, with the interest rate also getting stagnant, investors have started exiting their positions in bullion markets and are diversifying their investments in better opportunities, which has triggered a fall in the bullion prices.

International Crude oil prices rallied last week, after OPEC and its allies ignored India’s plea to ease production control, with Saudi Arabia asking New Delhi to instead use oil it bought at cheap rates last year. OPEC plus nations agreed to keep output quota unchanged in April, when the market was expecting some ease in output cuts of around 1.5 MB per day. Crude oil prices are expected to trade in sideways to positive trend in the current week. However, the traders needs to keep an eye on the crude oil inventories data, which will be released on 10th March.

For the current week, we expect gold and silver to trade in sideways to negative momentum, as the Federal Reserve Chairman, Jerome Powell failed to reassure investors that central bank policymakers would keep surging bond yields and inflation expectations under control. Along with this, the investors also need to keep a watch on some important economic data such as Europe’s and UK’s GDP, Europe’s PPI and US’ PPI.

For the week, we expect gold in COMEX market to be in the range of $1,603 to $1,750, while silver is expected to be in the range of $24.7 to $27.1. Whereas, for bullion market traders, we assume gold futures to trade in the range of 43,268 – 42,997 to 46,876 – 47,012.


Page 8, NavGujarat Samay, 9 March’21

#beelinebroking #commodity #trading #investing #daytrader #gold #silver #metals #investment #finance #success #money #commoditytrading #NavGujaratSamay #NGS

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Easy Trip Planners OFS- Date, Price, Review & Details

Maitri Parikh

View – Long & Short Term Investors Can Apply

Issue Highlights

Incorporated in 2008, Easy Trip Planners are the 2nd largest Online Travel Agencies in India, in terms of booking volume in the nine months ended December 31, 2020 and 3rd among the Key Online Travel Agencies in India in terms of gross booking revenues in FY 2020.

Issue Details

Company Strengths

  • Leading online travel agencies in India, with option of no-convenience fee
  • Consistent track record of financial & operational performance
  • In-house advanced technology and analytics capabilities
  • Wide distribution network supported by a hybrid platform
  • Well-recognized brand with a targeted marketing strategy
  • Well-qualified and experienced management team.

Valuation

The company is getting listed at PE of 49.03, against sector PE of 43.32. It is priced marginally costly. We recommend to apply on the basis of strong financials and operations.

Issue Break-Up

#beelinebroking #OFS #OnlineTravelAgency #TravelAgency #EasyTrip #EasyTripFPO #Travel #OnlineBooking #EasyTripPlanners #investing #profit #business #trader #stock #sharemarket #daytrader #daytrading #wealth #stockmarketnews #success #Bse #Nse

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Morning Market Insight Report – 08 Mar 2021

Maitri Parikh

Bank Nifty Intraday Outlook

In Friday’s trading session, Bank Nifty lost 1.60%, with PSU and Private Banks losing 3.93% and 1.58% respectively.

We expect intraday range could be 34,721 to 35,678 with sideways to negative momentum & broader range could be expected between 34,419 to 35,983 zone for this week.

Nifty Intraday Outlook

In Friday’s trading session, Nifty witnessed a steep fall in the second of the trading session, after the bears took the charge of overbought markets.

We expect intraday range could be 14,672-15,188 with sideways to negative momentum while broader range could be 14,541 to 15,337.

Short and Long term moving averages

Daily market statistics

Major global & domestic economic events

#beelinebroking #morningbreakfast #stockmarket #stocks #investing #trading #money #investment #finance #trader #stock #sharemarket #daytrader #nifty #sensex #nse

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