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New High 2460 🚀🚀 position hold

Company name: Valiant Laboratories Ltd IPO rating: SUBSCRIBE Issue Details ¤ Offer period: 27th Sept, 2023 to 3rd Oct, 2023 ¤ Price Band: Rs. 133 to Rs. 140 ¤ Bid lot: 105 ¤ Issue Size: Rs. 1.52 bn Valuation Valiant Laboratories Ltd. is an Active Pharmaceutical Ingredient / Bulk Drug manufacturing company focusing on manufacturing Paracetamol. The company manufactures Paracetamol in various grades and sizes per customers' specifications, like powder, fine powder, dense, free flowing, etc. These grades represent different pharmacopeia standards. The company sells products through an existing set of customers and new customers. Further, the paracetamol API industry grew from Rs. 22 billion in FY17 to Rs. 39 billion in FY23, led by growth in the pain and analgesics therapy area, which focuses on the treatment of common fever, cough, and cold, as well as volume rise coupled with strong realization levels for players. The paracetamol API industry is expected to clock a CAGR of 5-7% between FY23 and FY27, primarily driven by domestic formulation manufacturers' demand and export markets' demand. Further, the company has a track record of sustained revenue growth, growing at a CAGR of 35.3% during FY21-23. With strong operational efficiency, Valiant Laboratories has demonstrated high ROCE, positive operating cash flows, strong balance sheet, pursued growth opportunities and better managed unanticipated cash flow variations, which will drive the company's performance going ahead. On the upper price band, the issue is valued at a P/E of 15.7x based on FY2023 earnings, which is fairly valued compared to its peers. We, therefore, recommend an SUBSCRIBE rating for the issue.

BUY DEEPALFERT ABOVE 665

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Stocks under F&O ban on NSE Delta Corp, India Cements Balrampur Chini Mills, Canara Bank, Hindustan Copper, Indiabulls Housing Finance

Stocks in the news Signature Global India: The Delhi NCR-based affordable housing company will debut on the BSE and NSE, in the T+3 timeline, on September 27. The issue price has been fixed at Rs 385 per share. Infosys: The country's second-largest IT services provider has announced a collaboration with Microsoft to jointly develop industry-leading solutions that leverage Infosys' Topaz, and American tech giant's Azure OpenAI Service and Azure Cognitive Services. Both organisations are bringing together their artificial intelligence (AI) capabilities to enhance enterprise functions with AI-enabled solutions across multiple industries. Sai Silks Kalamandir: The Andhra Pradesh-based ethnic apparel and value-fashion products retailer will list shares in T+3 timeline on September 27. The final issue price is Rs 222 per share. 3i Infotech: The IT company has received a contract from Ujjivan Small Finance Bank, for end-user support service (workplace services). The total contract value is Rs 39.55 crore plus one-time transition charges of Rs 35 lakh. The contract is for a period of 5 years starting from October 1, 2023 to September 30, 2028, with the option to extend the contract with mutual agreement. Shyam Metalics and Energy: The Kolkata-headquartered integrated metal producer has made an entry into the energy storage sector to make battery-grade aluminium foil for Lithium-ion cell manufacturing. The battery-grade aluminium foil is a critical component in Lithium-ion cells. Suzlon Energy: Dilip Shanghvi and Associates has decided to terminate the agreement with Suzlon in accordance with the terms of the agreement. Dilip Shanghvi and Associates is the investor group of the company, that had entered into an amended and restated shareholders' agreement on February 28, 2020 with the company and promoters. Hiten Timbadia, the investor group's nominee director on the board of the company, has resigned as director of the company with effect from September 26. Century Textiles and Industries: Subsidiary Birla Estates has sold out phase 1 of Birla Trimaya within 36 hours of its launch. The booking value is Rs 500 crore for 556 units booked. Birla Trimaya, the 52-acre land parcel in North Bangalore is in joint partnership with M S Ramaiah Realty LLP.

"BASIC2BEMISAL" PRE-MARKET UPDATES:- 25/09/2023. * GIFT NIFTY 19656 Negative by -72.50  points (-0.37%) * Indian stock market is expected Flat Negative Opening -35  to -45 points * According to pivot charts, the key  levels for:- NIFTY Resistance: 19770 /19835 NIFTY  Support:19633 / 19561 NIFTY (B) Resistance: 45046 / 45280 NIFTY (B) Support: 44524 / 44236 * RESULTS CORNER :- * STOCK IN NEWS:- Welspun Corp: Subsidiary Sintex BAPL has entered into an MOU with the Telangana government to set up a manufacturing unit in the state with up to Rs 350 crore investment. The proposed project is under the state government's incentive scheme and will be manufacturing water tanks and PVC pipes & fittings. The total investment will spread over the next three financial years. RPP Infra Projects: The company has received a letter of acceptance for road and drain works-1 for CBR project of CPCL at Nagapattinam, Tamilnadu at a contract price of Rs 300.44 crore. Further, it received a contract worth Rs 90.18 crore for the provision of civil works and allied services for the engine test facility along with ancillary work for GRTE at Rajankute, Bengaluru. It also received a contract worth Rs 16.88 crore for the construction of a stormwater drain from Thoothukudi City Municipal Corporation, Tamil Nadu. Tata Steel: Global credit rating agency Moody's has upgraded the corporate family rating of Tata Steel from Ba1 to Baa3, and changed the outlook from Positive to Stable. The rating agency expects the company's profitability to increase even as softer steel prices dent revenues, and the company to maintain conservative financial policies with a well-balanced capital allocation and financial metrics appropriate for its Baa3 rating. Ujjivan Small Finance Bank: SMC Global Securities announced a strategic partnership with Ujjivan Small Finance Bank to offer online trading services to the bank's customers. This association will offer services comprising savings, demat and trading accounts, to the bank's customers. The collaboration will enable SMC Global to expand its client base by tapping into Ujjivan SFB's extensive pan-India presence, serving over 76 lakh customers. Wipro: The IT services company announced the sale of land measuring 14 acres and 2 cents, in Chennai, together with a 20-year-old building for Rs 266.38 crore. The company executed the sale deed on September 25 and Casagrand Bizpark was the buyer. Fortis Healthcare: The company has received approval from the board of directors to enter into a Share Purchase Agreement for acquiring 99.9 percent stake in Artistery Properties. The enterprise value of the stake buy is Rs 32 crore. Artistery owns land and building situated adjacent to Fortis Hospital, Anandpur in Kolkata. GR Infraprojects: The bids for 2 ropeway projects won by GR Infraprojects are annulled by National Highways Logistics Management. In February 2023, GR Infraprojects emerged as the L1 bidder for the development, operation and maintenance of a ropeways contract worth Rs 3,613 crore in Uttarakhand on Hybrid Annuity Mode. * STOCK UNDER F&O BAN ON NSE:- Stocks under F&O ban on NSE Balrampur Chini Mills Canara Bank, Granules India, Hindustan Copper, Indiabulls Housing To get daily free market updates join us:- https://t.me/Basic2Bemisal https://wa.me/+919821639494

"BASIC2BEMISAL" PRE-MARKET UPDATES:- 25/09/2023. * GIFT NIFTY 19656 Negative by -72.50  points (-0.37%) * Indian stock market is expected Flat Negative Opening -35  to -45 points * According to pivot charts, the key  levels for:- NIFTY Resistance: 19770 /19835 NIFTY  Support:19633 / 19561 NIFTY (B) Resistance: 45046 / 45280 NIFTY (B) Support: 44524 / 44236 * RESULTS CORNER :- * STOCK IN NEWS:- Welspun Corp: Subsidiary Sintex BAPL has entered into an MOU with the Telangana government to set up a manufacturing unit in the state with up to Rs 350 crore investment. The proposed project is under the state government's incentive scheme and will be manufacturing water tanks and PVC pipes & fittings. The total investment will spread over the next three financial years. RPP Infra Projects: The company has received a letter of acceptance for road and drain works-1 for CBR project of CPCL at Nagapattinam, Tamilnadu at a contract price of Rs 300.44 crore. Further, it received a contract worth Rs 90.18 crore for the provision of civil works and allied services for the engine test facility along with ancillary work for GRTE at Rajankute, Bengaluru. It also received a contract worth Rs 16.88 crore for the construction of a stormwater drain from Thoothukudi City Municipal Corporation, Tamil Nadu. Tata Steel: Global credit rating agency Moody's has upgraded the corporate family rating of Tata Steel from Ba1 to Baa3, and changed the outlook from Positive to Stable. The rating agency expects the company's profitability to increase even as softer steel prices dent revenues, and the company to maintain conservative financial policies with a well-balanced capital allocation and financial metrics appropriate for its Baa3 rating. Ujjivan Small Finance Bank: SMC Global Securities announced a strategic partnership with Ujjivan Small Finance Bank to offer online trading services to the bank's customers. This association will offer services comprising savings, demat and trading accounts, to the bank's customers. The collaboration will enable SMC Global to expand its client base by tapping into Ujjivan SFB's extensive pan-India presence, serving over 76 lakh customers. Wipro: The IT services company announced the sale of land measuring 14 acres and 2 cents, in Chennai, together with a 20-year-old building for Rs 266.38 crore. The company executed the sale deed on September 25 and Casagrand Bizpark was the buyer. Fortis Healthcare: The company has received approval from the board of directors to enter into a Share Purchase Agreement for acquiring 99.9 percent stake in Artistery Properties. The enterprise value of the stake buy is Rs 32 crore. Artistery owns land and building situated adjacent to Fortis Hospital, Anandpur in Kolkata. GR Infraprojects: The bids for 2 ropeway projects won by GR Infraprojects are annulled by National Highways Logistics Management. In February 2023, GR Infraprojects emerged as the L1 bidder for the development, operation and maintenance of a ropeways contract worth Rs 3,613 crore in Uttarakhand on Hybrid Annuity Mode. * STOCK UNDER F&O BAN ON NSE:- Stocks under F&O ban on NSE Balrampur Chini Mills Canara Bank, Granules India, Hindustan Copper, Indiabulls Housing To get daily free market updates join us:- https://t.me/Basic2Bemisal https://wa.me/+919821639494

"BASIC2BEMISAL" PRE-MARKET UPDATES:- 25/09/2023. * GIFT NIFTY 19656 Negative by -72.50 points (-0.37%) * Indian stock market is expected Flat Negative Opening -35  to -45 points * According to pivot charts, the key  levels for:- NIFTY Resistance: 19770 /19835 NIFTY  Support:19633 / 19561 NIFTY (B) Resistance: 45046 / 45280 NIFTY (B) Support: 44524 / 44236 * RESULTS CORNER :- Results on November 18 :- NIL * STOCK IN NEWS:- Welspun Corp: Subsidiary Sintex BAPL has entered into an MOU with the Telangana government to set up a manufacturing unit in the state with up to Rs 350 crore investment. The proposed project is under the state government's incentive scheme and will be manufacturing water tanks and PVC pipes & fittings. The total investment will spread over the next three financial years. RPP Infra Projects: The company has received a letter of acceptance for road and drain works-1 for CBR project of CPCL at Nagapattinam, Tamilnadu at a contract price of Rs 300.44 crore. Further, it received a contract worth Rs 90.18 crore for the provision of civil works and allied services for the engine test facility along with ancillary work for GRTE at Rajankute, Bengaluru. It also received a contract worth Rs 16.88 crore for the construction of a stormwater drain from Thoothukudi City Municipal Corporation, Tamil Nadu. Tata Steel: Global credit rating agency Moody's has upgraded the corporate family rating of Tata Steel from Ba1 to Baa3, and changed the outlook from Positive to Stable. The rating agency expects the company's profitability to increase even as softer steel prices dent revenues, and the company to maintain conservative financial policies with a well-balanced capital allocation and financial metrics appropriate for its Baa3 rating. Ujjivan Small Finance Bank: SMC Global Securities announced a strategic partnership with Ujjivan Small Finance Bank to offer online trading services to the bank's customers. This association will offer services comprising savings, demat and trading accounts, to the bank's customers. The collaboration will enable SMC Global to expand its client base by tapping into Ujjivan SFB's extensive pan-India presence, serving over 76 lakh customers. Wipro: The IT services company announced the sale of land measuring 14 acres and 2 cents, in Chennai, together with a 20-year-old building for Rs 266.38 crore. The company executed the sale deed on September 25 and Casagrand Bizpark was the buyer. Fortis Healthcare: The company has received approval from the board of directors to enter into a Share Purchase Agreement for acquiring 99.9 percent stake in Artistery Properties. The enterprise value of the stake buy is Rs 32 crore. Artistery owns land and building situated adjacent to Fortis Hospital, Anandpur in Kolkata. GR Infraprojects: The bids for 2 ropeway projects won by GR Infraprojects are annulled by National Highways Logistics Management. In February 2023, GR Infraprojects emerged as the L1 bidder for the development, operation and maintenance of a ropeways contract worth Rs 3,613 crore in Uttarakhand on Hybrid Annuity Mode. * STOCK UNDER F&O BAN ON NSE:- Stocks under F&O ban on NSE Balrampur Chini Mills Canara Bank, Granules India, Hindustan Copper, Indiabulls Housing To get daily free market updates join us:- https://t.me/Basic2Bemisal https://wa.me/+919821639494

#Correction