Tower Talks

As per market grapevine, five value stocks for the watchlist amid weak cash-market sentiment: a) Atlanta Electricals: At Rs. 1,619 versus its Rs.2,200 52-week high; Q1 PAT grew 50%, order backlog stands at Rs.3,117 cr. and Rs.340 cr. of long-term debt was repaid. b) Jyoti: At Rs.63 versus its Rs.208 all-time high; PAT rose 58% QoQ, P/E is around 8x and it owns valuable land in Vadodara. c) Pennar Industries: At Rs.151 versus its Rs.280 high; Bandhan MF raised its holding to 5%, promoters subscribed to 30 lakh warrants at Rs.168, and fixed assets grew from Rs.697 cr. in FY24 to nearly Rs.1,200 cr. in FY26. d) Shetron: At Rs.100 versus its Rs.198 high, trading at around 10x forward P/E. New production lines in Mumbai and Bengaluru could support H2 growth. e) Rajesh Power: At Rs.730 versus its Rs.1,625 high; 3-year ROE is 44.3%, order book exceeds Rs.4,000 cr. and FY26 EPS was Rs.80. Risk-reward appears favourable. Keep these five stocks on the radar; these are watchlist ideas, not guaranteed returns. Atlanta Electricals secured a Rs.193.92 cr. LOI from Transmission Corporation of Andhra Pradesh and a Rs.285 cr. order from Punjab State Transmission Corporation. Q1FY27 EBITDA/PAT grew 58%/50%, with a Rs.3,117 cr. order book and Rs.340 cr. long-term debt repaid. Capacity expansion, a better product mix and operating efficiency support FY27 growth. Management is optimistic; a breakout above Rs.2,200 could open Rs.2,250-2,295. Indo Rama Synthetics (India) approved Rs.200 cr. capex to expand speciality filament and fibre production at its Butibori plant, Nagpur, with operations expected in 12-18 months. Funding will combine term loans and internal accruals. The stock looks attractive at CMP versus its 52-week high of Rs.112. Jayaswal Neco Industries more than doubled Q2FY27 PAT to Rs.229.81 cr. on 23.2% revenue growth, with record EBITDA margin of 20.35%. Borrowings fell 29.2% to Rs.1,484.16 cr., while H1 PAT reached 91.5% of FY26 earnings. The Rs.720 cr. pellet plant and Rs.200 cr. promoter warrant subscription support medium- to long-term growth prospects. Pennar Industries has reserves of Rs. 1,096 cr. against equity of Rs.67 cr. and reported FY26 PAT of Rs.180 cr., with Rs.902 cr. in orders secured over three months. Promoter investment of Rs.50.40 cr. through warrants, Bandhan MF raising its holding to 5%, completed capex and a 400-acre land bank support expansion. Data centres and semiconductors are key focus areas; management gave an optimistic H2FY27 outlook at the AGM. The stock looks attractive versus its 52-week high of Rs.280 and may deliver medium- to long-term returns. BSE SME Rajesh Power reported FY26 PAT of Rs.143 cr. and EPS of Rs.80, with reserves of Rs.388 cr., P/E of 11x, ROCE of 48.6% and ROE of 44.3%. Q1FY27 revenue reached Rs.436.62 cr.; its unexecuted order book stands at Rs.5,108 cr., with five new orders worth Rs. 1,866 cr. Its BESS entry and promoter buying support the growth outlook. The stock looks attractive versus its 52-week high of Rs.1,639 and may offer strong returns. RBL Bank is evaluating entry into broking and asset management to expand its capital-market activities. Keep the stock on the radar. Shetron is expanding its Mumbai and Bengaluru facilities to strengthen its western and southern markets. Promoters hold 64.82%, while 15 reputed HNIs hold 18.13%. At around 10x forward P/E, the stock appears attractively valued and could surpass its high of Rs.198. YES Bank says the Supreme Court's Rs.8,415 cr. AT1 bond ruling will not derail its growth plans. Keep the stock on the radar. Pennar Industries - Key Highlights from the 50th AGM: a) Management has set a revenue target of Rs.10,000 cr. against the current Rs.3,600 cr., supported by the vast addressable markets of its five focused business verticals in India and the USA. b) Major capex is complete, while order books across all business verticals are at record highs. c) Execution is picking up and capacity utilisation is improving, with the impact expected to reflect in H2 numbers.

As per market grapevine, wild volatility and a sell-on-rise trend may persist in many small-, mid- and micro-caps until 31-12-2026. Focus on a select group of companies delivering strong Q2 results and optimistic Q3 commentary, with the Q2 results season ending on 14-11-2026. Theory can be taught in a classroom, but conviction is built in live markets. Fear, greed and impatience test traders' discipline; consistent execution and knowing when not to trade matter more than patterns or indicators. "Markets don't punish ignorance, they punish indiscipline." As per market veteran, around 150-200 mid- and small-cap stocks appear expensive due to crowded positions among retail investors, HNIs and family offices. The market could form a trading bottom in the coming weeks, making it important to identify relatively high-beta large-cap stocks. For a profitable trading journey: a) Cut losses: Protect capital by using stop-losses and exiting losing trades quickly. b) Ride winners: Let profitable trades run instead of exiting too early. c) Keep bets small: Limit risk to 1-2% of capital per trade to withstand losses. d) Follow rules: Apply your strategy consistently instead of relying on predictions or gut feelings. e) Know when to break rules: In rare situations, experienced traders may adjust targets or rules to maximise returns. Avoiding your portfolio because markets are falling signals a lack of conviction. Review holdings periodically, retain fundamentally strong companies and reconsider weak ones based on financials, management quality and future prospects. ➤ Huge negative for equity mutual fund investors: Sector-wise fall from 52-week highs. Oil and gas: -21%, water utilities: -23%, aerospace and defence: -25%, banking services: -25%, pharmaceuticals: -26%, diversified industrial goods wholesale: -26%, electronic equipment and parts: -26%, insurance: -26%, automobiles and auto parts: -27%, hotels and entertainment services: -27%, food and tobacco: -27%, oil and gas-related equipment and services: -28%, healthcare equipment and supplies: -28%, healthcare providers and services: -28%, communications and networking: -28%, metals and mining: -28%, chemicals: -28%, containers and packaging: -29%, machinery, equipment and components: -29%, diversified retail: -29%, consumer goods conglomerates: -30%, professional and commercial services: -30%, natural gas utilities: -30%, textiles and apparel: -30%, passenger transportation services: -31%, paper and forest products: -31%, investment banking and investment services: -32%, miscellaneous educational service providers: -32%. The overall average decline of 31% from 52-week highs is a huge negative for equity mutual fund investors. Why the Indian stock market is bleeding - the MTM + MTF chain reaction: The sharp fall may be amplified by a liquidity trap involving Mark-to-Market (MTM) losses and Margin Trading Facility (MTF) debt. 1) The fuel (MTF): Retail borrowing through MTF grew sixfold to over Rs.1.55 lakh cr., with half concentrated in volatile mid- and small-caps. 2) The spark (MTM): Falling prices trigger MTM losses, magnified by 4x-5x leverage. 3) The cash crunch: Margin calls force traders to arrange cash quickly. 4) Forced selling: Failure to meet margin calls can lead brokers to sell pledged shares, intensifying selling pressure and pushing thinly traded stocks towards lower circuits. 5) The bottom line: MTF builds the debt burden, while MTM losses can trigger forced selling. During such episodes, liquidity pressures can outweigh fundamentals in the short term. Smart money doesn't chase prices; it traps traders first. The Trick Candle (Spring Candle) can trigger stop-losses and shake out weak hands before a sharp reversal. Such setups can occur across stocks, indices, crypto, forex and commodities, especially in volatile markets. Jio Platforms IPO could be a multibagger for HFCL. HFCL invested in 2020 and holds around 4.79 cr. shares. At the IPO price of Rs.1,119, the stake would be valued at Rs.5,350 cr., implying returns of around 11,290%.

Why are FIls selling Indian equities? Key concerns include dividend and capital-gains taxes, higher F&O STT, a weak rupee, limited Al-related investment opportunities and slower-than-expected nominal GDP growth. Around 20% of Nifty 50 stocks have delivered zero returns over five years, while 56% are reportedly in a bearish trend. Policy measures that restore investor confidence could help, but caution remains warranted. Main Reasons Behind the Recent Sharp Crash in Small- and Mid-Cap Stocks: a) Heavy exposure to Margin Trading Facility (MTF). b) Mutual funds are directing substantial funds towards IPOs, OFS and QIPs instead of supporting secondary-market stocks. c) Small- and mid-caps remain under severe pressure; avoid catching a falling knife. d) High Brent crude prices could fuel inflation, negatively impacting the Indian economy and equity mutual fund investors. e) As per market grapevine, investors hope the Government and Finance Ministry will take immediate corrective measures or issue positive statements to restore domestic and foreign investor confidence. Otherwise, equity mutual fund investments could shift towards debt funds and bank FDs. Short-Term Stocks to Watch As per Market Grapevine: Atlanta Electricals, Butterfly, Chemcon Speciality Chemicals, DCB Bank, HFCL, Indorama, Jayant Eco-Organics (JAYNECOIND), Jyoti, Pennar Industries, Rajesh Power (BSE SME), RBL Bank and Shetron. Keep these stocks on the radar/watchlist; returns are not guaranteed. Brent Crude, Drought and Liquidity Concerns: a) Brent crude above $80 is a major negative for the Indian economy. At around $114-115, it poses a significant risk to the economy and equity mutual fund investors. b) Severe drought conditions across several states due to El Niño could further hurt the economy and investor sentiment. c) Continuous IPOS, OFS and QIPs could drain liquidity from the secondary market. d) As per market grapevine, investors hope the Government and Finance Ministry will take immediate action or issue positive statements to restore domestic and foreign investor confidence. Otherwise, funds could shift from equity mutual funds to debt funds and bank FDs. Fed Rate Decision on 28 October 2026: If the US Federal Reserve raises interest rates, SIP stoppages could rise and investors may shift from equity mutual funds to bank FDs and bonds, as per market grapevine. Small- and mid-caps remain under severe pressure; avoid catching a falling knife. Huge negative for equity mutual fund investors: Foreign investors have withdrawn nearly $63.6 billion from Indian equities, almost wiping out net buying over the past nine years and taking cumulative net inflows since 2014 close to zero. As per market veteran, much of the correction in Indian small-, mid-and micro-caps may be behind us, but valuations remain expensive versus large-caps. Large-caps look attractive, buying interest is gradually returning, and Al-related opportunities could support IT companies despite limited deflationary impact in H2FY27. Astro junction: Rahu remains in Dhanishta nakshatra until 05-12-2026, while Saturn remains retrograde until 11 December. Astrology-based views suggest volatile, sell-on-rise markets through December; traders should reduce F&O activity, avoid leverage and MTF, and prioritise capital protection. A sharp correction in small-, mid- and micro-caps is possible from 26-10-2026 to 31-12-2026, while fixed income may outperform equity mutual funds over 1-2 years, Food, water, electricity and edible-oil shortages are also forecast, while Trump may become more erratic in November. Nine things destroying your financial life: Debt from unaffordable purchases, FOMO-driven investing, lifestyle inflation, inadequate insurance, overconcentration, overtrading, random mutual fund selection, investment fraud and chasing past returns.

MONEY TIMES TALK 24.10.2026 As per astrology view, key turning dates are 26 and 29 October, and 2, 4, 6, 9, 11 and 13 November 2026. https://t.me/TowersTalk Friday night closing: Dow fell 653 points, Nasdaq 54 points and S&P 42 points, while GIFT Nifty was down 65 points at 23,535, signalling a possible gap-down opening on Monday, subject to weekend developments. Brent crude above 117, is a major concern for India and equity investors. Small and mid-caps remain under pressure; don't catch a falling knife. Astro alert: From 26-10-2026 to 31-12-2026, astrology-based forecasts suggest heavy profit booking in small- and mid-caps, with large-caps potentially outperforming. Investors may consider shifting towards large-cap funds or fixed-income instruments, reducing F&O activity and strictly avoiding MTF. Sudden rallies and sharp falls could create substantial trading risks; these forecasts are speculative and not reliable market indicators. Very big alert: As per market grapevine, Brent crude sustaining above $117-124, Fll selling of Rs.52,000 cr. and an MTF book of Rs.1.55 lakh cr. pose major risks. If crude stays elevated and markets fail to bottom out, MTF unwinding could trigger panic selling. Strictly avoid margin-funded trading and investing; focus on a few companies with strong Q2 results and optimistic Q3 outlooks. Marc Faber: He believes India's great bull market is over and prefers cash and bonds-a negative signal for equity-market sentiment. Big alert: The next Federal Reserve FOMC meeting is scheduled for 27-28 October 2026. As per market grapevine, a rate hike could pressure equities and encourage money to shift towards bonds, debt funds and bank FDs. As per market grapevine, Indian equities have remained weak for nearly two years amid rich valuations, slower earnings growth, Fll outflows, higher rates and elevated crude prices. Small- and mid-caps remain vulnerable, so avoid catching a falling knife and focus on select companies delivering strong Q2 results with optimistic Q3 commentary. Huge negative for equity mutual fund investors: broader-market damage is deepening. Among stocks with market caps above Rs.2,000 cr., the median stock is 27% below its 52-week high and 36% below its all-time high; 95% are down over 10% from their 52-week highs, while 86.5% delivered negative one-month returns. FIl selling of Rs.52,000 cr. and an MTF book of Rs.1.55 lakh cr. add to concerns. Large-caps may now offer better relative value than small- and mid-caps, but stock selection remains crucial. Bank FD sahi hat. Post office saht hat. Gold saht hal. Indian equity mutual funds worst hat? Investors should compare their 1-, 2- and 3-year mutual fund returns. As per market grapevine, the government may consider LTCG/STT relief or other measures to restore investor confidence; otherwise, money could shift towards debt funds and bank FDs. Small- and mid-caps remain vulnerable-don't catch a falling knife. Huge negative for the Indian economy and Investors: More than 180 scientists have reportedly warned of a potentially intense "Super El Niño" as India's monsoon season ends with deficient rainfall, raising concerns over weather and economic risks. Alert: The world's largest wealth fund reportedly posted a $30 billion loss amid bond-market turbulence, highlighting risks across global financial markets. Very big negative for equity and mutual fund investors: Goldman Sachs reportedly expects another US Fed rate hike in October, while the Fed's dot plot signals a hawkish, higher-for-longer stance. Further tightening could pressure equities and encourage flows towards bonds and bank FDs. Small- and mid-caps remain vulnerable; avoid catching a falling knife. Big alert: Small-caps account for around 49.2% of India's outstanding MTF book despite representing only 20.1% of free-float market capitalisation-about 2.45 times their market-weighted share. This concentration raises the risk of forced selling and liquidity stress during a downturn. Avoid leveraged positions and remain cautious in smaller stocks.

MONEY TIMES TALK 17 October 2026 Complete Summary in a Nutshell Every Monday morning 08 58 AM Summary of Money Times Talk in a Nutshell Exclusively on *https://t.me/TowersTalk* Astrological forecasts — use caution The note identifies 19, 21, 23, 26 and 29 October as turning dates and anticipates possible sharp market movements through year-end based on planetary positions. Five highlighted value-stock ideas Stock Reference price Key investment thesis in the note Gujarat Pipavav Port (GPPL) ₹166 Growing container volumes, reported profit growth, dividends and potential port expansion Indo Rama Synthetics ₹97 Reported 202% Q2 profit growth and ₹200 crore planned capex Jayaswal Neco Industries ₹100 Q2 profit more than doubled; ₹720 crore pellet-plant investment Shetron ₹109 Packaging-sector expansion, reported profit improvement and valuation near 10× forward earnings South West Pinnacle Exploration ₹201 Exploration demand, Oman joint-venture prospects and potential project growth Other companies attracting attention Atlanta Electricals Reported orders from Andhra Pradesh and Punjab, an order backlog of approximately ₹3,117 crore, and improved quarterly profitability. Butterfly Gandhimathi Appliances Q2 FY27 profit reportedly reached ₹20.18 crore, compared with ₹8.84 crore in Q1. Himadri Speciality Chemicals Reported Q2 revenue growth of 58% year-on-year and record EBITDA of ₹315 crore. Rajesh Power Services Reported power-distribution orders worth approximately ₹541 crore, supporting future execution visibility. Transrail Lighting Reported a fresh ₹408 crore order, taking its order book above ₹17,408 crore. Other companies mentioned for further research include RDB Rasayan, Talbros Engineering, Prince Pipes, DCB Bank, RBL Bank, LIC Housing Finance, Uniparts India, Mastek, Hindalco, Karur Vysya Bank, Ramco Industries, Century Enka, Nahar Industrial Enterprises and Canara Bank. Seven breakout stocks to watch These stocks reportedly showed bullish breakouts with volume on 9 October: INDORAMA JAYNECOIND JYOTI LORDSCHLO SHETRON SOUTH WEST PINNACLE EXPLORATION VILAS TRANSCORE

German MNC Voith Paper Fabrics posted Q1 EPS of Rs.28.7, potentially taking FY27 EPS to Rs.110 versus Rs.103.2 in FY26. The stock trades at 12.7x forward P/E vs. the industry average of 40x, with expectations of a strong dividend. LIC Housing Finance posted Q1 EPS growth of 10% to Rs.27.3, which may lead to FY27 EPS of Rs.114 vs. Rs.102 in FY26. At 4.6x P/E and 0.7x P/BV vs. peers at 12.5x P/E, valuations look attractive. Transrail Lighting, a T&D EPC player with four decades of experience and a presence in 59 countries, expanded conductor capacity by 70%. A fresh Rs.408 cr. order takes its order book above Rs. 17,408 cr., providing strong revenue visibility with a 2.6x bill-to-book ratio. RDB Rasayan posted Q1 EPS growth of 40% to Rs.6.7, which may lead to FY27 EPS of Rs.28 vs. Rs.19.2 in FY26. At 5.7x forward P/E, valuations appear attractive. Mastek, a global digital and cloud transformation services provider focused on Al, digital engineering and Oracle/Salesforce solutions, reported Q1 EPS of Rs.34.2, up 15%. FY27 EPS could reach Rs.150 versus Rs.130.5 in FY26. At 11.2x forward P/E versus peers at 27x, the stock offers potential upside. DCB Bank targets FY27 loan-book growth of 18-20% and sequential NIM improvement to 3.50-3.65% from 3.39%. Q1 EPS grew 36% to Rs.5.7, which may lead to FY27 EPS of Rs.27 vs. Rs.22.7 in FY26. At 7.8x forward P/E vs. peers at 16.4x, valuations look appealing. Hindalco, an Aditya Birla Group company, is pursuing capex exceeding Rs.1.5 lakh cr. and posted Q1 EPS growth of 76% to Rs.31.6, which may lead to FY27 EPS of Rs.120 vs. Rs.86.8 in FY26. At 8.2x forward P/E, the stock offers potential upside amid its expansion plans. Mahalaxmi Rubtech posted Q1 EPS growth of 30% to Rs.5.5, which may lead to FY27 EPS of Rs.24 vs. Rs.20.5 in FY26. With an equity of Rs. 10.6 cr., it trades at 7.6x forward P/E versus peers at 16.8x. Karur Vysya Bank posted Q2 EPS growth of 39% to Rs.8.2 and H1 EPS growth of 42% to Rs.16, which may lead to FY27 EPS of Rs.35 vs. Rs.26 in FY26. At 9.9x P/E vs. peers at 16.4x, valuations remain attractive. Ramco Industries, posted Q1 EPS growth of 73% to Rs.9.1, potentially taking FY27 EPS to Rs.37 versus Rs.34.8 in FY26. Its group-company equity stakes offer reported monetisation value of Rs. 4,700 cr., or Rs.540 per share. At 7.9x forward P/E, the stock offers potential upside. Century Enka, posted Q1 EPS growth of 300% to Rs.28.2, which may lead to FY27 EPS of Rs.72. With an equity of Rs.21.9 cr., it trades at 7.9x forward P/E vs. the industry average of 41x. Donear Industries posted Q1 EPS growth of 28% to Rs.2.2, which may lead to FY27 EPS of Rs.10.5. At 8x forward P/E vs. the industry average of 16.8x, valuations look attractive. Nahar Industrial Enterprises posted Q1 EPS growth of 517% to Rs.5.9, which may lead to FY27 EPS of Rs.22. At a PE of 5.9x vs. peers at 26.9x, the stock offers potential upside. Dachepalli Publishers posted Q1 EPS of Rs.4.3, which may lead to FY27 EPS of Rs.15 vs. Rs.12.6 in FY26. At 6.5x forward P/E, valuations appear attractive. Canara Bank posted Q2 EPS of Rs.5.7 and H1 EPS of Rs.11.1, which may lead to FY27 EPS of Rs.23. Al 5.1x, the stock trades at an attractive valuation.

Debt-free RDB Rasayan has reserves of Rs.229.39 cr. against equity of Rs.17.71 cr., with promoters holding 69.83% and bodies corporate/HNIs 17.75%. FY26 PAT stood at Rs.33.96 cr. and Q1 FY27 PAT rose 88% QoQ to Rs.11.60 ст., implying potential FY27 EPS of Rs.27-28. Trading at around 7x P/E, the company is targeting growth through plastic-processing solutions. Rajesh Power Services secured Rs.541 cr. of orders from MGVCL on October 14, 2026, taking its order book closer to Rs.4,000 cr. and providing 18 months of execution visibility. The orders support power-distribution modernisation through covered conductors and underground cabling. The stock trades well below its 52-week high of Rs.1,605. RBL Bank expects profitability to improve following capital infusion and FCNR(B) mobilisation, with loan growth targeted above 25%. Funding costs are now just 20-30 bps above large banks. Margins may moderate in Q3 before recovering in Q4, supported by lower deposit rates and loan deployment. Dividend-paying Shetron operates factories in Bengaluru and near the Mumbai-Nashik Highway, with its new Mumbai production line now operational. It is expanding lug-cap food-can capacity in Bengaluru and upgrading. facilities to strengthen its presence in southern and western markets. Promoters hold 64.82%, while 15 HNIs hold 18.13%. At around 10x forward P/E, the stock offers potential upside beyond its previous high of Rs.198. Dividend-paying Talbros Engineering reported FY26 PAT growth of 44% to Rs.29.11 cr. and paid a 30% dividend. Q1 FY27 PAT stood at Rs.6.29 cr., with reserves of Rs.177.27 cr. against equity of Rs.5.08 cr. Promoters hold 72.59%. Trading at 11x P/E versus peers at 33x, the company is setting up a manufacturing unit in Madhya Pradesh alongside its seven Faridabad-area plants, offering potential medium-to long-term growth. Rajesh Power Services secured two orders within a week worth Rs.471.92 cr. from MGVCL and Rs.69.004 cr. from UGVCL, taking the combined order value to Rs.540.924 cr. Chandan Healthcare reported Q2 FY27 diagnostics revenue of Rs.56.38 cr., up 46.66% YoY, and total income of Rs.71.03 cr., up 73.22% YoY. It added 410 franchises, taking its network to 685. Master Trust's subsidiary, Master Capital Services, commenced F&O clearing and settlement on NSE and BSE through a CP code from October 15, 2026, offering a single collateral pool, consolidated margins and trading continuity. Dhruv Consultancy Services approved the incorporation of three subsidiaries-Valsang Drivehub, Latur Drivehub/Latur Waysides Amenities and Hottalwadi Drivehub-with a proposed 55% stake in each, subject to approvals. Emerald Finance expanded its Early Wage Access (EWA) network by partnering with Delhi-based Halomax Lighting Solutions, enabling employees to access salary advances repayable through salary deductions. Current Infraprojects secured a Rs.4.03 cr. BSF order to install off-grid solar plants at 13 border outposts in Gujarat, adding to its existing Rs.4.89 cr. BSF order in Barmer. Baazar Style Retall opened two stores in Raniganj, West Bengal, and Danapur, Patna, taking its total store network to 287. YAAP Digital appointed Anjan Roy as Chairman, Managing Director and CEO following the resignation of L. S. Nayak (Raj Nayak). Adisoft Technologies reported H1 FY27 revenue of approximately Rs.72 cr., up 47% YoY, with an unexecuted order book exceeding Rs.50 cr. and an active order pipeline of around Rs.40 cr. Its new Bhosari, Pune facility is designed to support 4-5x its current revenue base. Magellanic Cloud's wholly owned subsidiary, Provigil Surveillance, secured a Rs.29.13 cr. Northern Railway order for Al-enabled CCTV, video analytics and integrated e-surveillance infrastructure at Haridwar railway stations ahead of Kumbh Mela 2027. The prolonged consolidation in defence stock Apollo Micro Systems appears to be over, with significant growth potential ahead. Uniparts India posted Q1 EPS grew 65% to Rs.12.5, which may lead to FY27 EPS of Rs.60. At 12x forward P/E vs. peers at 48x, valuations appear attractive.

Debt-free, dividend-paying Gujarat Pipavav Port (GPPL) reported 30% higher PAT of Rs.515 cr. and paid a 104% dividend for FY26. It signed a non-binding MoU with Gujarat Maritime Board for potential investment of Rs.17,000 cr.; Q1 PAT grew 65% to Rs.147.90 cr. At Rs. 166, its P/E of 14.8x and ROCE of 28.1% are notable. Himadri Speciality Chemicals delivered record Q2 FY27 revenue of Rs.1,691 cr. versus Rs.1,071 cr. a year ago, up 58%. EBITDA grew to Rs.315 cr., PBT to Rs.307 cr. and PAT to Rs.231 cr., with EBITDA exceeding Rs.300 cr. for the first time. Keep the stock on the radar. Indo Rama Synthetics (India) reported 202% higher Q2 FY27 PAT of Rs.74.08 cr. and 79% higher H1 PAT of Rs.138 cr. H1 EPS of Rs.5.28 could translate into FY27 EPS of Rs.12-13; the forward P/E is around 7x, while debt-to-equity improved from 2.18x to 1.31x. Its Rs.200 cr. speciality fibre and filament capex plan supports future diversification. Jayaswal Neco Industries is investing Rs.720 cr. in a 1.50 Mn TPA pellet plant, a 2.0 Mn TPA iron-ore wet-grinding system and related facilities at its Siltara steel plant. The project aims to lower production costs, while product innovation could support higher-value steel grades and entry into new sectors. Jyoti, an engineering company serving the power and water sectors, reported Q1 FY27 PAT of Rs.5.15 cr. versus Rs.3.26 cr. in Q4 FY26, up 58% QoQ. It secured a Rs.6.64 cr. order for 11 kV VCB panels and is focusing on cost control, cash flows, spares and service orders. Its P/E is around 8x, with potential upside linked to improved execution. Lords Chloro Alkali reported Q1 FY27 PAT of Rs. 14.95 cr. versus Rs.4.39 cr. in Q4 FY26, up 241% QoQ. Its expansion includes additional chlor-alkali capacity, 50 TPD CPW capacity and a 21 MW captive power plant, taking total captive capacity to 37 MW plus 10 MW group captive. At Rs.149, it trades below its 52-week high of Rs.233. BSE SME-listed Rajesh Power reported FY26 PAT of Rs.143 cr. and EPS of Rs.80, with ROCE of 48.6% and ROE of 44.3%. Q1 FY27 revenue reached Rs.436.62 cr., while its unexecuted order book stood at Rs.5,108 cr.; five recent orders worth Rs.1,866 cr. and its entry into battery energy storage systems (BESS) support growth prospects. At Rs.825, it remains below its 52-week high of Rs. 1,639. Shetron reported 30% higher FY26 PAT of Rs.4 cr. and paid a 10% dividend. Q1 FY27 PAT rose 97% QoQ to Rs.1.89 cr., with EPS of Rs.2.10. Trading at around 10x forward P/E, the company is expanding production capacity in Mumbai and Bengaluru to support western and southern market growth. At Rs.109, it remains below its high of Rs.198. South West Pinnacle Exploration, an integrated drilling and natural-resource exploration services provider, reported 101% higher FY26 PAT of Rs.33.03 cr. and 287% higher Q1 FY27 PAT. Promoters hold 65.94%, while HNIs hold 9.59%. Higher demand for exploration amid resource shortages could support growth; the stock may revisit its 52-week high of Rs.288. Atlanta Electricals received a Rs.193.92 cr. letter of intent from Andhra Pradesh's transmission utility and secured a Rs.285 cr. order from Punjab State Transmission Corporation. Q1 FY27 EBITDA grew 58% and PAT 50%, with 105 bps of YoY margin expansion. Its Rs.3,117 cr. order backlog, Rs.340 cr. debt repayment and capacity expansion support growth prospects. Godrej Agrovet ICICI Securities maintains a Buy rating with a Rs.845 target, citing a 3-5-year strategic transformation, while trimming FY27 and FY28 EPS estimates by 6.5% and 2.3%, respectively. Debt-free, dividend-paying Prince Pipes & Fittings has reserves of Rs.1,534 cr. against equity of Rs.111 cr., with promoters holding 60.95% and mutual funds 15.33%. FY26 PAT grew 73%, while Q1 FY27 PAT surged 600% to Rs.33.75 cr. Premium product launches, Bihar plant ramp-up, South India expansion and planned FY27 capex of Rs.200-210 cr. support its growth outlook.

FM Sitharaman meets global Investors. The FM held a roundtable with JPMorgan Chase, BlackRock, Deutsche Bank, 10, ADIA, Carlyle, Temasek, Millennium Management, Citadel and Brevan Howard to discuss reforms, market developments, Al and global capital flows into Indian assets. Investors expressed confidence in India's growth story and stressed predictable, fiscally prudent policies and infrastructure development. As per market veteran, scrapping LTCG tax could boost market returns by 12%, while reducing LTCG tax and STT could attract over US$150 billion in Fll and FDI flows over three years. The veteran believes lower taxes could also lift collections. Meanwhile, banking stocks may underperform in the near term, auto companies may face a slowdown, and FII flows into emerging markets may remain subdued. As per market veteran, investors who research ahead of the market are more likely to succeed than those trading on TV tips. While only 1% conduct independent research, 99% chase trading volumes and tips. In India, tips have become big business, whereas globally, research drives investment decisions. As per market veteran, FOMO is a fast route to losses, as chasing breakouts and trending stocks often leads to late entries, fear and poor exits. The key rule is to invest only in businesses you understand, prioritising clarity over momentum and protecting both capital and peace of mind. As per market veteran, financial freedom starts with term insurance worth 10-15x annual income, health insurance covering around one year's income and a super top-up of 5x health cover. Invest systematically through equity or index funds and direct stocks, save 25-30% of income, build passive income and keep learning to strengthen long-term financial security. The biggest risk in option buying is time decay, as premiums erode even when markets move sideways. Buyers need swift momentum, precise timing and disciplined trailing stop-losses to protect capital and lock in gains, especially on expiry days. Portfolio management and rebalancing guidelines. Focus on overall portfolio returns rather than individual stock movements, review holdings every 1-3 months and rebalance when needed. Maintain sectoral diversification, keep 5-10% in liquid reserves and align investments with changing market conditions and risk appetite. Set realistic return expectations and regularly review, rebalance and realign your portfolio. Goldman Sachs sees three more RBI rate hikes. Economist Santanu Sen Gupta expects the RBI to raise rates by another 75 bps by June. Debt-free, dividend-paying Gujarat Pipavav Port (GPPL) handled 192,000 TEUs in Q2 FY27 versus 164,000 TEUs a year ago, while Ro-Ro volumes grew to 58,000 units from 56,000. H1 container volumes rose to 360,000 TEUs from 328,000; the stock could revisit its Rs.262 high if market sentiment improves. On 16-10-2026, Indo Rama Synthetics (India) approved Rs.200 cr. capex at its Butibori, Nagpur plant to expand speciality filament and fibre production, with commercial operations expected in 12-18 months. A close above Rs.112 could open a potential Rs.120-130 range. JAYNECOIND more than doubled Q2 FY27 PAT to Rs.229.81 cr. on 23.2% revenue growth, with record EBITDA margins of 20.35%. Borrowings fell 29.2% to Rs. 1,484.16 cr., while its Rs.720 cr. pellet plant and Rs.200 cr. promoter warrant subscription support medium-to long-term growth prospects. On 14-10-2026, South West Pinnacle Exploration reported progress in its Oman JV, with 12 copper-gold prospects. identified and a 6,132-line-km HeliTEM survey completed. Rock-chip sampling returned copper values of up to 2.27%. supporting further exploration; the stock could revisit its Rs.288 high. Butterfly Gandhimathi Appliances reported Q2 FY27 PAT of Rs.20.18 cr. versus Rs.8.84 cr. in Q1, a 129% QoQ jump, with H1 PAT at Rs.29.07 cr. It recorded its highest-ever quarterly retail revenue, while new products and Rs.382 cr. in reserves add to its growth profile. At Rs.603, the stock trades well below its lifetime high of Rs.1,903.

Alert-alert-alert- very big crisis seen in mid-caps, small-caps and micro-caps: On 13-10-2026, Sensex surged 1,109 points and Nifty 563 points; on 15-10-2026, Sensex rose 1,534 points and Nifty 495 points; and on 16-10-2026, Sensex gained 414 points and Nifty 149 points. Despite these rallies, the note suggests most cash-market stocks remained weak. According to market commentary, large IPOs and the anticipated Jio mega IPO could drain liquidity from cash stocks. Jio's reported GMP of Rs.215-225 is unverified and may change. Sharp swings linked to Q2 results and Q3 commentary may continue until 16-11-2026. Exercise caution with cash stocks and small-cap and mid-cap mutual funds. BOFA warns Al boom could follow historic bust cycles: Al hyperscaler capex expectations have surged from $330 billion to $1 trillion, around 3% of US GDP, while Al token prices have fallen nearly 50% since summer. The risk is that Al succeeds technologically, but overinvestment and falling returns hurt investors. As per market veteran: Avoid operator-driven stocks, pump-and-dump counters, excessively high-P/E stocks and loss-making companies, which may deliver short-term gains but carry long-term risks. Focus on fundamentally strong businesses, discipline and patience, as speed can mislead while consistency builds wealth. As per market grapevine, stocks to watch for potential short-term returns include Atlanta Electricals, Butterfly, DCB Bank, GPPL, HFCL, INDORAMA, JAYNECOIND, Jyoti, Lords Chloro, Rajesh Power, RBL Bank, RDBRL, Shetron, South West Pinnacle Exploration, Talbros Engineering and Vilas Transcore. Keep them on the radar/watchlist. Big alert: The market is in a challenging phase similar to September 2024-February 2025, with many breakouts. failing and stocks retreating after brief post-result rallies. Book profits promptly, retain cash for lower-level opportunities and prioritise capital preservation amid global trade uncertainty. Avoid FOMO, cash-market stocks and small-/mid-cap mutual funds for now, as per market grapevine. Invest or trade only after due diligence and at your own risk. Major relief for India: US President Donald Trump reportedly signed an executive order pausing a proposed Russia-related sanctions package. The waiver could suspend provisions that might impose additional tariffs of up to 100% on goods from major buyers of Russian crude and natural gas, including India, for qualifying new purchases. As per market grapevine, five value stocks for the watchlist amid weak sentiment: (a) GPPL attractive at Rs.166: Reported Q1 PAT grew 65% YoY and paid a 104% dividend for FY26. Q2 FY27 container volumes reached. 192,000 TEUs versus 164,000 a year earlier, while H1 volumes grew to 360,000 TEUs from 328,000. NRI, HNI, DII and FII investors hold 41.56%, (b) INDORAMA-attractive at Rs.97: Q2 PAT reportedly grew 202%, with Rs.200 cr. in. capex planned and an optimistic outlook for the remaining six months. (c) JAYNECOIND - attractive at Rs.100: Q2 FY27 PAT more than doubled to Rs.230 cr., supported by Rs.720 cr. in capex and a Rs.200 cr. promoter warrant subscription. (d) SHETRON attractive at Rs.109: Trades at around 10x forward P/E. New production lines in Mumbai and Bengaluru could support H2 revenue growth, making it a potential packaging-sector value play. (e) South West attractive at Rs.201: Rising demand for crude, coal and minerals could support its growth outlook, with potential to revisit its previous high of Rs.288. Huge negative: Brent crude around $109-110 is a major concern for India's economy and equity mutual fund investors. El Niño-related drought risks and continued IPOs, OFS and QIPs could further strain liquidity. If the US Federal Reserve raises interest rates on 28-10-2026, investors may reduce SIPs or shift money from equity mutual funds to bank FDs and bonds, as per market grapevine.

MONEY TIMES TALK 17.10.26 As per astrology view, important turning dates are 19, 21, 23, 26th and 29 October 2026. https://t.me/TowersTalk Friday night closing: Dow closed down 175 pts., Nasdaq 573 pts. and S&P 85 pts. Gift Nifty fell 9 pts. to 23,085, signalling a potentially mild gap-down opening in Indian markets on Monday, subject to weekend developments. Brent crude above 110, its highest level since September 15, could severely affect equity mutual fund investors and bullish sentiment. Friday, 9-10-2026, witnessed bullish breakouts with volumes in INDORAMA, JAYNECOIND, JYOTI, LORDSCHLO, SHETRON, SOUTHWEST and VILAS TRANSCORE. Keep these seven stocks on the radar/watchlist for Monday. Big attention: Axis Bank, HDFC Bank, ICICI Bank, IDBI Bank and Yes Bank announce results on Saturday, 17-10-2026. Markets will react on Monday, 19-10-2026, which is also the weekly Nifty expiry due to the Tuesday, 20-10-2026, market holiday. Significant volatility in Nifty and Bank Nifty is possible, while Wednesday's opening could see a sharp gap up or down depending on Brent crude prices. Till 31-12-2026, wild volatility will be inevitable: A sell-on-rise trend may persist across small-cap, mid-cap and micro-cap stocks amid uncertainty, inflation and intermittent crises. Stay disciplined and focus on sound businesses, capable management and long-term wealth creation. Wealth creation is a test of patience, conviction and emotional. strength, not intelligence or attempts to get rich quickly. Focus on selected companies reporting strong Q2 results and optimistic Q3-H2 commentary. The Q2 results season concludes on 14-11-2026. As per market veteran: IT results have largely been in line with estimates. The Al-led boom, which largely bypassed India, may be losing momentum, while Indian Al-facing stocks appear reasonably valued. Budget expectations include a modest LTCG cut and a small STT increase. Trump could become more erratic and unilateral. Large-caps may outperform small-caps and mid-caps amid volatility. If Brent crude remains above $85 for an extended period, substantial profit-booking could hit small-cap, mid-cap and micro-cap stocks. Huge negative signs of a severe water crisis: Despite the monsoon's withdrawal, reservoir levels remain concerning, particularly in South India. Across 178 major reservoirs, only 68.58% of usable storage capacity remains filled, leaving approximately 31.42% empty. Astro alert: Rahu remains in Dhanishta nakshatra until 5-12-2026, while Saturn remains retrograde until 11-12-2026. Astro tension: Sharp, unexpected market rises and falls could create significant stress for traders and investors. Reduce F&O and options trading, avoid overtrading and leverage, and strictly avoid margin trading/investment funding (MTF) until December. Prioritise capital protection and stay cautious. Food-grain and edible-oil shortages are also flagged as potential concerns. Fixed income may deliver competitive returns over a 1-2-year horizon versus equity mutual funds. As per the astro view, a major correction could hit several small-cap, mid-cap and micro-cap stocks between 19-11-2026 and 31-12-2026. These astrological forecasts are speculative and should not be treated as reliable market indicators. Big news for SME IPOS: SEBI has proposed changes to SME IPO rules to improve transparency and protect investors. Key proposals include raising the average-profit requirement for the last three years to Rs.3 cr. from Rs.1 cr., reducing the minimum retail application size from Rs.2 lakh to Rs.1 lakh, allowing companies valued up to Rs.1,000 cr. to list on the SME platform, and revising bidding rules, including restrictions on cut-off-price bids and downward bid revisions. These changes remain proposals until formally notified.

Smartlink Holdings has free reserves of Rs.208 cr. vs equity of Rs.2 cr. Q1 EPS rose 154% to Rs.5.6, which could take FY27 EPS to Rs.17 from Rs.13.2 in FY26. The stock trades at a forward P/E of 12.1x vs the industry average of 100x. ➤ Satin Creditcare saw Q1FY27 AUM rise 27% to Rs.16,000 cr., with 53 new branches taking the network to 2,045, while 2.2 lakh new borrowers increased the client base to 32.6 lakh. Disbursements rose 54%. Q1 EPS stood at Rs.11.2 vs Rs.30.2 in FY26, while FY27 EPS could reach Rs.40. The stock is worth retaining in the portfolio. ➤ Foseco Crucible (India) has posted 78% higher Q1 EPS of Rs.18.4, which could take FY27 EPS to Rs.80 from Rs.67 in FY26. With equity of just Rs.2.8 cr., the stock trades at a forward P/E of 24.8x vs peers at 44x. ➤ Mastek has posted 15% higher Q1 EPS of Rs.34.2. FY27 EPS could reach Rs.150 vs Rs.130.5 in FY26. The stock trades at a forward P/E of 10.2x vs peers at 27x. ➤ Canara Bank, with a network of 10,131 branches including three overseas, has clocked Q1 EPS of Rs.5.7, which could take FY27 EPS to Rs.24 from Rs.19.8 in FY26. The stock trades at a forward P/E of 5x. ➤ DCM Nouvelle has posted 1,150% higher Q1 EPS of Rs. 15 vs Rs.1.9 in FY26, which could take FY27 EPS above Rs.35. The stock trades at a forward P/E of 5x. ➤ Coral Labs has reported 101% higher Q1 EPS of Rs.15.1. FY27 EPS could reach Rs.65, with equity of Rs.3.6 cr. and book value of Rs.606 per share. The stock trades at a forward P/E of 9.4x vs the industry average of 53x. KPI Green Energy has a land bank of 8,657 acres and secured a Rs.2,025 cr. solar EPC order for a 500 MW/550 MWp project from NACOF Oorja, Rajasthan. Total disclosed order book visibility has crossed Rs.5,000 cr. With peak power demand reaching ~271 GW in May 2026 and projected at ~345 GW by 2030, long-term prospects remain strong. ➤ Prakash Pipes has clocked 59% higher Q1 EPS of Rs.7.9, which could take FY27 EPS to Rs.30. The stock trades at a forward P/E of 8.3x vs peers at 38x. ➤ Pace Digitek (PDL), which tapped the IPO at Rs.217 per share, has an executable energy order book of over Rs.8,450 cr. and telecom orders of Rs.2,938 cr. FY27 EPS is expected at Rs.17 post expansion, with the stock trading at an attractive valuation. Petronet LNG is poised for higher Kochi utilisation, with additional revenue opportunities including an LNG bunkering facility targeted for completion by Q4. Dahej expansion adds volume optionality despite near-term

Internal funding reduces reliance on debt and supports the company's expansion plans. ➤ Current Infra Projects has received a Rs.4.89 cr. LoA for 25 kWp off-grid solar plants at 16 BSF Border Out Posts across Gujarat, including battery room construction, with a 12-month completion period. ➤ NIS Management has secured two CCTV surveillance orders worth Rs.86.46 lakh from West Bengal Police Housing and Infrastructure Development Corporation through its subsidiary NIS Facility Management Services. ➤ Patel Retail has opened its 54th store in Kalyan (East), further expanding its presence across the Mumbai Metropolitan Region and suburban markets. ➤ Cupid has approved conversion of up to 30 lakh Baazar Style warrants involving an investment of around Rs.73.86 cr. and raised FY27 guidance to Rs.800+ cr. revenue and Rs.250+ cr. PАТ. ➤ Emerald Finance has expanded its early-wage-access programme through partnerships with Iconic, Mohali and Erste Wahl Financial Services. ➤ Style Baazar has partnered with India's international football fixtures against Brazil and Uruguay as Principal Partner at Kolkata's Salt Lake Stadium. Master Trust could benefit from rising MTF adoption as India's margin trading book reaches a record Rs.1.49 lakh cr. ➤ Repono has received North Central Railway approval for the Engineering Scale Plan of its proposed petroleum terminal at Ajhai, Mathura. The company holds a 20-year EPC and O&M contract with Reliance Industries for the terminal. ➤ Yaap Digital has won Narayana Health's social media mandate covering five regional clusters North, East, West, South and Central including strategy, content creation, creative execution, local storytelling, platform management and community engagement. ➤ Quality Power Electrical Equipments is a specialized high-voltage equipment player with products across transformers, reactors, SVCs, harmonic filters and HVDC systems. Strong financials, ROCE above 29% and rising domestic/international orders position it to benefit from the power-sector upcycle. HCC has a strong legacy in hydropower, nuclear, tunneling and major infrastructure projects. Deleveraging, an oversubscribed rights issue and a healthy order pipeline across water, tunneling and hydro projects strengthen its growth visibility. Aartech Solonics is an R&D-driven energy technology player with growing exports to Oman, Qatar and Africa. Q1FY27 sales rose 68% to Rs.7.29 cr. and PAT 146% to Rs.1.55 cr., supporting its growth outlook. ➤ Univastu India has an order book above Rs.1,750 cr. against a market cap of around Rs.483 cr., with major orders from L&T, IRCON and Pune Metro. Q1FY26 sales rose 260% and PAT 150%, while a Rs.16 cr. preferential issue includes promoter participation. Pranav Constructions has 65 redevelopment projects, including 28 completed and 37 ongoing/upcoming, under an asset-light model. Q1 sales rose 16% to Rs.165 cr. and PAT 40% to Rs.14 cr.; the stock trades at 14.4x P/E with Goldman Sachs holding 1.83%. LIC Housing Finance has posted 10% higher Q1 EPS of Rs.27.3, which could take FY27 EPS to Rs.114 from Rs.102. The stock trades at a forward P/E of 4.6x and P/BV of 0.7x vs peers at 12.5x. ➤ RDB Rasayan manufactures polymer-based industrial packaging solutions, including FIBC jumbo bags and woven sacks. Q1 EPS rose 40% to Rs.6.7, which could take FY27 EPS to Rs.28 from Rs.19.2 in FY26. The stock trades at a forward P/E of 5.7x. Manoj Vaibhav has posted 33% higher Q1 EPS of Rs.5.6, which could take FY27 EPS to Rs.28 from Rs.23.5 in FY26. The stock trades at a forward P/E of 7.8x vs peers at 58x. Manaksia has reported 70% higher Q1 EPS of Rs.3.9, which could take FY27 EPS to Rs.13 from Rs.8 in FY26. The stock trades at a forward P/E of 5.2x. ➤ Expleo Solutions has posted 67% higher Q1 EPS of Rs.22, which could take FY27 EPS to Rs.105 from Rs.89.4 in FY26. The stock trades at a forward P/E of 8.4x vs peers at 26x.

➤NSE SME Vilas Transcore manufactures CRGO electrical steel cores and radiators for transformer manufacturers. Reserves stand at Rs.304 cr. against Rs.24 cr. equity, with promoter holding of 73.14%. The company could benefit from sustained demand in the transformer industry over the next few years. Keep on radar versus its Rs.674 high. ➤ Vodafone Idea added 5.06 lakh subscribers in August versus 2.4 lakh in July. Keep on radar. ➤IOL Chemicals & Pharmaceuticals is investing Rs.495 cr. in new Ibuprofen, CDMO and specialty-chemical facilities, funded entirely through internal accruals. Ibuprofen capacity will rise from 12,000 MT to 18,000 MT, while the new CDMO facility will have 1,500 million tablets annual capacity. Internal funding reduces reliance on debt and supports the company's expansion plans. ➤ Current Infra Projects has received a Rs.4.89 cr. LoA for 25 kWp off-grid solar plants at 16 BSF Border Out Posts across Gujarat, including battery room construction, with a 12-month completion period. ➤ NIS Management has secured two CCTV surveillance orders worth Rs.86.46 lakh from West Bengal Police Housing and Infrastructure Development Corporation through its subsidiary NIS Facility Management Services. ➤ Patel Retail has opened its 54th store in Kalyan (East), further expanding its presence across the Mumbai Metropolitan Region and suburban markets. ➤ Cupid has approved conversion of up to 30 lakh Baazar Style warrants involving an investment of around Rs.73.86 cr. and raised FY27 guidance to Rs.800+ cr. revenue and Rs.250+ cr. PАТ. ➤ Emerald Finance has expanded its early-wage-access programme through partnerships with Iconic, Mohali and Erste Wahl Financial Services. ➤ Style Baazar has partnered with India's international football fixtures against Brazil and Uruguay as Principal Partner at Kolkata's Salt Lake Stadium. Master Trust could benefit from rising MTF adoption as India's margin trading book reaches a record Rs.1.49 lakh cr. ➤ Repono has received North Central Railway approval for the Engineering Scale Plan of its proposed petroleum terminal at Ajhai, Mathura. The company holds a 20-year EPC and O&M contract with Reliance Industries for the terminal. ➤ Yaap Digital has won Narayana Health's social media mandate covering five regional clusters North, East, West, South and Central including strategy, content creation, creative execution, local storytelling, platform management and community engagement. ➤ Quality Power Electrical Equipments is a specialized high-voltage equipment player with products across transformers, reactors, SVCs, harmonic filters and HVDC systems. Strong financials, ROCE above 29% and rising domestic/international orders position it to benefit from the power-sector upcycle. HCC has a strong legacy in hydropower, nuclear, tunneling and major infrastructure projects. Deleveraging, an oversubscribed rights issue and a healthy order pipeline across water, tunneling and hydro projects strengthen its growth visibility. ➤ RDB Rasayan is debt-free with Rs.229.39 cr. reserves against Rs.17.71 cr. equity and 69.83% promoter holding. FY26 PAT stood at Rs.33.96 cr. and Q1FY27 PAT rose 88% QoQ to Rs.11.60 cr., with EPS of Rs.6.55, potentially leading to FY27 EPS of Rs.27-28. At around 7x PE, the stock remains on the radar. ➤NSE SME Vilas Transcore manufactures CRGO electrical steel cores and radiators for transformer manufacturers. Reserves stand at Rs.304 cr. against Rs.24 cr. equity, with promoter holding of 73.14%. The company could benefit from sustained demand in the transformer industry over the next few years. Keep on radar versus its Rs.674 high. ➤ Vodafone Idea added 5.06 lakh subscribers in August versus 2.4 lakh in July. Keep on radar. ➤IOL Chemicals & Pharmaceuticals is investing Rs.495 cr. in new Ibuprofen, CDMO and specialty-chemical facilities, funded entirely through internal accruals. Ibuprofen capacity will rise from 12,000 MT to 18,000 MT, while the new CDMO facility will have 1,500 million tablets annual capacity.

➤ 55 Stocks Closed Below Their Previous 52-Week Lows (011026): VIEX, UPL, REC, TRF, ▼ PFC, ▼ HUL, VENIL, VIOB, ACC, ICRA, NSDL, CESC, Pfizer, Wipro, GICRE, JK Tyre, V Havells, Birlasoft, Indosolar, Midweast, Jyothi Labs, VPB Finetech, V DCM Shriram, Maruti Suzuki, V India Cements, Sula Vineyards, Rajesh Exports, Can Fin Homes, Reliance Power, Jupiter Wagons, Bharat Rasayan, Bharti Hexacom, Waaree Energies, Ambuja Cements, V KEC International, Panasonic Energy, Nucleus Software, Sharda Cropchem, Panasonic Carbon, V IRCON International, V JK Lakshmi Cement. ▼ Gensol Engineering, V ICICI Life Insurance, Industries, Aurionpro Solutions, IndiaMART InterMESH, Ramky Infrastructure, Britannia Camlin Fine Reliance Sciences, Latent View Analytics, Jio Financial Services, Ice Make Refrigeration, Infrastructure, V SBI Funds Management, V Automobile Corporation of Goa, V Aditya Birla Fashion and Retail. ➤IOLCP received a CEP from EDQM on 24th September 2026 for its Fenofibrate Process II API, strengthening its regulatory portfolio and access to regulated markets. If the stock surpasses Rs.219, a new range of Rs.230-250 may open. ➤ Artefact Projects won a Rs.21.12 cr., 24-month Project Management Services order from South Central Railway, marking its entry into railway consultancy. Keep on radar. ➤ Anant Raj is targeting up to 357 MW of data-centre capacity by 2032 under a planned Rs.25,000 cr. expansion, with 63 MW targeted by March 2027. The expansion is largely planned through internal accruals, supported by real-estate cash flows, Rs.899 cr. cash and Rs.1,100 cr. QIP proceeds. Data centres could become a significant new growth vertical over the long term. IRB InvIT Fund raised Rs.2,351 cr. through institutional placement and preferential allotment to support the proposed acquisition of two highway assets from IRB Infrastructure Trust. Positive development for portfolio expansion. Keep IRB Infra on radar. ➤ IVP reported FY26 PAT growth of 75% to Rs. 18.80 cr. and EPS of Rs. 18.09, along with a 15% dividend. Q1FY27 PAT surged 1,078% to Rs.14.02 cr., with quarterly EPS of Rs.13.57, which may lead to FY27 EPS of Rs.54-55. With debt reduction and strong earnings growth, the stock may surpass its Rs.290 high as market sentiment improves. ➤NSE SME Kaushalya Logistics (KLL) operates 116 depots across 11 states, serving major cement companies including Dalmia Cement, ACC and Ambuja Cement. FY26 PAT stood at Rs.12 cr. with EPS of Rs.6.60, ROCE of 17% and ROE of 18.4%. Promoters hold 73.65%, while the stock trades at around 6x PE. Strong five-year profit CAGR of 31.6% and the appointment of cement-logistics veteran Rajendra Shekhawat as CFO are key triggers. ➤ Morepen Labs completed the first phase of its capacity expansion ahead of schedule, increasing API and CDMO reactor capacity from 535 KL to 614 KL. The expansion supports commercial CDMO scale-up and existing API operations. Stock looks attractive at Rs.120 versus its Rs.222 all-time high. NCC won a Rs.1,076.71 cr. Andhra Pradesh Government order for drinking-water supply under the Multi Village Scheme in Anakapalli, to be executed over 24 months. Keep on radar. ➤ Pennar Industries has Rs.1,096 cr. reserves against Rs.67 cr. equity and reported FY26 PAT of Rs.180 cr. It secured Rs.902 cr. orders in the last three months, while promoters plan to invest Rs.50.40 cr. through convertible warrants at Rs.168. Capex across PEB India, PEB USA and BIW is expected to support FY27 growth, while its 400-acre land bank provides expansion potential. Data-centre and semiconductor opportunities remain key focus areas. Stock looks attractive versus its Rs.280 52-week high. RDB Rasayan is debt-free with Rs.229.39 cr. reserves against Rs.17.71 cr. equity and 69.83% promoter holding. FY26 PAT stood at Rs.33.96 cr. and Q1FY27 PAT rose 88% QoQ to Rs.11.60 cr., with EPS of Rs.6.55, potentially leading to FY27 EPS of Rs.27-28. At around 7x PE, the stock remains on the radar.

Agro recovery remains selective, while textiles, CPVC, dyes and pigments stay weak. Capex cycles may end through FY27-28, with earnings uplift likely in FY29-30. CONSUMER DURABLES: Q2 remains seasonally weak, with recovery expected from H2. FY27 outlook remains constructive on a low base and El Niño tailwinds, though commodity inflation and price competition may pressure margins. FMCG/CONSUMER: Demand remains steady, with price hikes supporting revenue. Premiumisation and digital/e-commerce remain key growth drivers, while higher crude and commodity costs pressure margins. INFRA: Disciplined bidding and execution remain key. BOT/HAM/PPP, asset-light models and international opportunities are emerging as incremental growth levers. IT SERVICES: Near-term outlook remains pressured by Al-led revenue deflation, weak discretionary spending and Middle East geopolitics. Al adoption is increasing, but monetisation remains at an early stage. REAL ESTATE: Redevelopment and geographic expansion are widening project pipelines. Better mix, pricing power and cash generation are supporting a shift toward profit-led growth. As per a market veteran, a meaningful fall in Brent crude could support Indian equities. Heavy equity supply through OFS, IPOs and block trades is also absorbing liquidity, while US Al-related investments are attracting global capital. Asset allocation remains important, with gold better viewed as part of diversification rather than a standalone buy. Huge negative for Indian equity and mutual-fund investors: Reduced fresh Fed purchases alongside heavy US Treasury issuance could keep US bond yields elevated, potentially attracting foreign capital away from India, pressuring the rupee and increasing equity volatility. Monitor US yields, the dollar and FPI flows, while maintaining diversification and avoiding excessive exposure to highly valued stocks. As per market grapevine, retail investors are increasingly seen as the "shock absorbers" when Flls sell, while continuing to bear STT, LTCG, brokerage and other charges. If retail participation in equity mutual funds weakens significantly, policymakers may face greater pressure to consider tax relief for domestic investors. Big alert: The ongoing Iran-US conflict remains a major crude-oil risk for India. Any escalation could push Brent higher, while signs of de-escalation could bring prices down. As the world's major crude importer, India remains particularly exposed to sustained high oil prices. Brent above $80 remains a concern for the Indian economy. As per market grapevine, repeated increases in LTCG, STCG and STT, along with changes in debt-fund and SGB taxation, have increased the overall tax burden on investors. There is a view that lower STT and LTCG could help. attract FII/FPI/NRI capital and reduce the shift of household savings towards debt funds and bank FDs. Big wisdom: "Never give your profits back to the market." The objective is not to sell everything quickly but to protect realised gains. Partial profit booking, disciplined stop-losses and position sizing can help preserve capital. Hold when earnings, cash flows and the business thesis remain strong, but reassess when valuation runs far ahead of fundamentals, momentum becomes excessive or the investment thesis weakens. The goal is wealth retention, not catching the exact top. What's easter than predicting the market? Follow the plan. Market timing is difficult even for experienced investors. Rather than reacting to every short-term move, focus on asset allocation, quality businesses, valuation and long-term objectives. Bank FD sahi hai. Post office sahi hai. Gold sahi hai. Equity mutual funds have faced a difficult period, raising questions about short- and medium-term returns. Weak Indian markets despite global resilience highlight the need to review valuations, taxation and investor confidence. As per market grapevine, relief in LTCG/STT could help rebuild confidence and prevent further diversion of equity savings towards debt funds and bank FDs.

cr., supported by large addressable markets across its five focused business verticals in India and the USA. 2) Major capex is largely complete, while order books across PEB India, PEB USA, Engineering Services, BIW, Boilers and Hydraulics remain at all-time highs. 3) Execution and capacity utilisation are improving, with the impact expected to reflect from Q2 numbers. 4) Management remains focused on margins and even declined a Rs.150 cr. PEB India order due to an unsuitable margin profile. 5) The new BIW plant is expected to double segment revenue while maintaining good margins. 6) USA Engineering Services, a high-margin business, is currently at a Rs.70 cr. run rate, with guidance of Rs.100 cr. this year. 7) The company plans to monetise non-core land assets, which could potentially fetch Rs.500-700 cr. 8) At CMP, Pennar Industries trades at ~12-13x current-year earnings and below 10x next-year earnings, with multiple business verticals offering growth potential. Nomura Research: Nomura expects moderation in corporate earnings growth as input-cost pressures have yet to fully reflect in margins. Earnings estimates could face cuts if crude stays around $100-110/bbl, while geopolitics and Al remain long-term concerns. Nomura remains constructive on IT stocks. Nifty tracking one of its weakest years: Nifty 50 has fallen sharply in 2026, with September marking its worst monthly performance since March as rising crude, global rates and FPI outflows weighed on markets. The index fell 6.1% in September, while the Sensex declined 5.8%. Nilesh Shah, Managing Director, Kotak Mahindra AMC, has called for a better equilibrium between STT and capital-gains taxation, noting concerns around the combined burden on market participants. Astro tension: Rahu remains in Dhanishta nakshatra until 5th December 2026 and Saturn is retrograde until 11th December 2026. As per the astrology view, this could mean higher volatility and sudden market moves. Traders may prefer lower leverage, avoid overtrading and focus on capital protection until December. As per a market veteran, FPIs are waiting for better valuations and time correction before increasing allocations. H1FY27 faces pressures from West Asia, El Niño, weak rainfall, inflation and rates, while earnings estimates could face further cuts. Power transmission, data centres, Al, defence and pharma remain areas of interest. The next Fed meeting is scheduled for 27th-28th October 2026, with rate policy remaining an important trigger. Pharma stocks on radar: Sun Pharma, Cipla, Biocon, Zydus Life, Hester Bio and Shilpa Medicare could remain in focus following the reported US tariff exemption for certain speciality drugs and ingredients imported from India and 19 other countries. Anand Rathi Conference - Sector-wise Key Takeaways: AEROSPACE: Strong order backlogs support demand, with focus shifting to execution and NPD-led growth. Margins remain stable despite high capex, while working capital may stay elevated due to import dependence. AUTO: Demand remains strong across segments, with festive/Q3 growth expected at high-to-double-digit levels despite a high base. The 8th Pay Commission could support demand, while commodity pressure may be offset by price hikes, mix and scale. AUTO ANCILLARIES: Auto upcycle, premiumisation, EV/regulatory content, exports and diversification into aerospace, semiconductors, electronics and defence remain key growth drivers. Margins remain supported by scale, mix and pass-through. BANKS/NBFCs: Loan and deposit growth expected to remain stable/improve. NIMs may face Q2 pressure from high-cost FCNR deposits but could improve in H2FY27. Asset quality remains broadly stable, while technology investments should aid efficiency.. CEMENT: Q2 demand remained firm at 7-8% YoY. September prices rose Rs.25-30/bag in South and Rs.10-12/bag elsewhere. Cost pressure persists from Middle East gypsum, petcoke above US$170/tonne and higher domestic coal prices. CHEMICALS: Demand is improving unevenly, with energy, polymers, O&G, F&F, pharma and FMCG firm.

MONEY TIMES TALK 4.10.26 As per astrology view, some important turning dates for the market are 5th, 8th, 12th, 16th, 20th, 22 and 26 October 2026. https://t.me/TowersTalk As per market grapevine, short-term stocks to keep on the radar include Anant Raj, Datamatics, DCB Bank, HSCL, IOLCP, KLL, VILAS, Morepenlab, Pennar Industries, Prince Pipes & Fittings, RBL Bank, RDB Rasayan, Shetron, Talbros Engineering, YES Bank and Vodafone Idea. However, focus should remain on a few selected companies that may report better Q2 results rather than tracking too many stocks. For F&0/options traders, some lifetime tips from a market veteran are to avoid overtrading, margin funding, revenge trading and FOMO. Strict discipline, proper risk management and capital protection are equally important for traders and investors. IVP is an Allana Group company manufacturing foundry chemical, PU formulations and flexible-packaging adhesives, with ~50,000-tonne annual capacity and 150+ products. Reserves stand at Rs.147 cr. against equity of Rs.10.3 cr., while promoter holding is 71.32%. The company is reducing debt, expanding value-added products and improving capacity utilisation. FY26 capex stood at Rs.2.56 cr. The stock may retest its Rs.290 high. Matter of concern: The BSE website has reportedly been slow in recent weeks, affecting access to announcements, corporate actions, shareholding patterns and company data, particularly during the quarterly results season. Faster data access and higher website capacity are needed to avoid difficulties for analysts and investors. Huge negative: Maharashtra's drought conditions, along with erratic rainfall and El Niño concerns, could affect agriculture, rural consumption and several industries. The impact could extend to consumers, industry, foreign exchange and the trade deficit. Brent crude above $80 is a concern for the Indian economy, while drought conditions could add pressure on inflation and consumption. Heavy IPOs, OFS, QIPs and bulk deals may also absorb liquidity from the secondary market. The RBI's upcoming policy decision will remain an important market trigger. Negative for bulls: Fed Governor Michael Barr has indicated that further rate hikes may be required if inflation. remains above the 2% target. Higher-for-longer global rates could continue to influence liquidity and emerging-market equities. ➤ As per market grapevine, there is a demand to abolish LTCG tax on listed equities, with the argument that long-term shareholders provide patient capital to businesses. Supporters believe lower taxation could encourage households to shift savings towards productive investments and support long-term economic growth. As per a market veteran, earnings cuts may increase ahead, while inflation and higher oil prices could remain. concerns. The rupee is at record lows, valuations remain stretched in several sectors and Q2-Q3FY27 earnings may be weak. Fixed income could outperform equities over the next 1-2 years if the interest-rate cycle turns. Nifty September 2026 has so far fallen 5.86%, its sharpest September decline since 2018. Technically, the market looks oversold and may see a sharp October bounce, though profit booking could return at higher levels. Big alert: BSE caution on international ETFs. Some international ETFs are trading at substantial premiums to their underlying NAV because overseas investment limits have restricted creation of fresh units. For example, an ETF with a NAV of Rs. 100 trading at Rs.140 carries a 40% premium, which could narrow sharply if fresh units become available. Investors should therefore check the latest NAV before trading international ETFs and avoid paying excessive premiums. 50th AGM of Pennar Industries highlights: 1) Management targets Rs.10,000 cr. revenue versus current Rs.3,600

MONEY TIMES TALK — Nutshell 26.09.2026 ➤ As per astrology view, important turning dates are 1, 5th, 8th, 12th, 16th, 20th and 22 October 2026. Every Monday morning 08:58 AM Summary of Money Times Talk in a Nutshell is Posted here https://t.me/TowersTalk 🔴 Major market risks Crude ~$104: High oil prices are viewed as a major negative for India—pressure on inflation, INR, imports and corporate margins. Fed: Oct 27–28 meeting; the note expects a possible further US rate hike. RBI: Oct 7 policy is a key trigger; the note mentions a possible 25-bps hike. FII selling: Continued foreign outflows are cited as a major pressure point. US 10Y yield, strong dollar, weak INR: Additional headwinds. Geopolitical/trade risks: Middle East, Russia sanctions, India-US trade and China/global growth. El Niño: Potential drought/heat could affect agriculture, inflation and growth. High valuations: Particularly a concern in parts of the mid/small-cap universe. IPO/OFS/QIP activity: Could absorb market liquidity. 🟢 Stocks repeatedly highlighted Black Rose Industries — strong Q1 PAT growth, dividend, new capacities/PAM/amine projects, debt-free. Bright Brothers — low forward valuation, improving earnings, diversified customers and composites expansion. IOL Chemicals & Pharma — ₹495-cr expansion, Ibuprofen/CDMO/specialty chemicals; new European certification. Pennar Industries — ₹902-cr recent orders, promoter warrant investment, capacity expansion. Prince Pipes — Q1 PAT reportedly up 600%, debt-free, expansion/capex and bathware opportunity. Shri Bajrang Alliance — very low reported P/E, low debt, food/steel expansion and export growth. Morepen Labs — API/CDMO capacity expansion. Univastu India — large order book relative to market cap, strong reported growth. Ceinsys Tech — strong order book and comparatively low forward valuation. NLC India — large expansion plan in mining/renewables and relatively low forward P/E. Hindalco — copper, recycling, alumina and other capacity investments. Uflex — very low reported forward P/E with sharply higher Q1 EPS. DCB Bank — loan-growth target, improving NIM and earnings. GHCL, Century Enka, Pace Digitek, Mahalaxmi Rubtech, Meghmani Organics — highlighted mainly for low valuation versus reported/expected earnings. Breakout/watchlist names The report specifically mentions Friday's volume breakouts in: Black Rose | IOLCP | Lords Chloro | Morepen Labs | Pennar Industries | Prince Pipes | Shri Bajrang Alliance

At 16.4x PE, the stock looks attractive with scope for a strong move as market sentiment improves. Aartech Solonics is an R&D-driven energy technology company expanding internationally across Oman, Qatar and Africa. Q1FY27 sales rose 68% to Rs.7.29 cr., while PAT jumped 146% to Rs.1.55 cr. Improving financial performance and international expansion could support growth going forward. Hindalco is entering an accelerated growth phase backed by strong bauxite and coal security. Copper smelter expansion, e-waste recycling, value-added copper products and specialty alumina provide long-term growth visibility. Ceinsys Tech received Rs.24.3 cr. from T Second Inc., USA, taking total orders to Rs.1,109 cr. Q1 EPS of Rs.14.8 may lead FY27 EPS to Rs.65. At 10.6x forward PE versus peers at 27x, valuations remain attractive. ➤ NLC India targets 104.35 MTPA mining and 10+ GW renewable capacity by 2030, backed by a Rs.1.17 lakh cr. expansion plan. FY27 EPS is estimated above Rs.26, while the stock trades at 10x forward PE versus peers at 22x. ➤ Mahalaxmi Rubtech reported 30% higher Q1 EPS of Rs.5.5, which may lead FY27 EPS to Rs.24 versus Rs.20.5 in FY26. At 6.3x forward PE versus peers at 16.8x, valuations remain attractive. Transrail Lighting has a four-decade legacy in T&D EPC, with integrated manufacturing plants and presence across 59 countries. A 70% increase in conductor capacity is expected to support revenue growth in coming quarters. ➤ Lumino Industries plans its first 10,000 TPA expansion in H2FY27, taking capacity from 40,000 TPA towards 75,000 TPA by Q1FY29. Q1 net profit rose 33% to Rs.40.3 cr. on 18% higher sales of Rs.520 cr., supporting promising long-term prospects. ➤GK Energy secured a Rs.454 cr. order, taking outstanding orders to Rs.995 cr. It also emerged as a successful bidder for 150 MW/300 MWh capacity, generating annual revenue of Rs. 42.84 cr. for 15 years. Medium-term outlook remains strong. ➤ GHCL posted Q1 EPS of Rs.16.4, which may lead FY27 EPS to Rs.62 versus Rs.50 in FY26. The stock trades at 6.8x forward PE versus peers at 43x. ➤ Pace Digitek reported 13% higher Q1 EPS of Rs.2.8, which may lead FY27 EPS to Rs.16 versus Rs.13.8 in FY26. At 10.6x forward PE versus peers at 26x, valuations remain attractive. ➤ Century Enka reported 300% higher Q1 EPS of Rs.28.2, which may lead FY27 EPS to Rs.72 versus Rs.47 in FY26. At 7.9x forward PE versus industry at 41x, valuations remain favourable. Sterling & Wilson bagged Rs.985 cr. of orders, taking total orders to Rs.13,900 cr., with 75% domestic mix. FY27 EPS is expected at Rs.14; stock trades at 12.9x forward PE versus peers at 26.8x. ➤ DCB Bank targets 18-20% FY27 loan-book growth, with NIM expected to expand to 3.50-3.65%. Q1 EPS rose 36% to Rs.5.7 and may lead FY27 EPS to Rs.27 versus Rs.22.7 in FY26. Forward PE stands at 6.9x versus peers at 17.8x. Meghmani Organics reported Q1FY27 EPS of Rs.1.9, which may lead FY27 EPS to Rs.8+ versus Rs.1.1 in FY26, supported by better realisations and product mix. At 7.8x forward PE versus industry at 26x, long-term growth. prospects remain positive. OCCL reported strong Q1FY27 performance, supported by higher capacity utilisation, domestic market share and customer relationships. With Rs.422 cr. reserves, low debt and strong cash flows, the company remains positioned to invest in growth and technology. Uflex reported 630% higher Q1 EPS of Rs.58.6 and cash EPS of Rs.88.1, with FY27 EPS expected at Rs.190. At just 3.5x forward PE versus peers at 28.7x, valuations remain significantly lower than peers. ➤ Hindalco reported 76% higher Q1 EPS of Rs.31.6, which may lead FY27 EPS to Rs.120 versus Rs.86.8 in FY26. With significant capex and operating leverage, the stock trades at 8.8x forward PE. A Time Communications Publication.bs