Market Overview

Domestic indices has moved significantly higher (Up +25%) from Budget
days low without any major price correction. At current valuation
(Trailing PE of Nifty is 23.5x & Sensex is 21 times) market is not Cheap;
however downside remains limited as we are in an Earnings revival
trajectory.
Till now market has rewarded them who bought in Dips. We dont expect
any major correction in coming days as headwinds like US Presidential
elections & Fed rate hike are likely to fade slowly as market starts
captivating on good corporate earnings. However, any Global geopolitical tension (North Korea Nuke tests, escalation in tension between
India & Pakistan, Dispute over South China Sea and etc.) can hurt
sentiments & Global indices can see Knee-jerk reaction (10% or beyond
correction). Therefore, we recommend to avoid high Leveraged Positions
and stay invested in quality stocks in which buying conviction is strong
and has clear earnings visibility.

Performance Review: Muhurat Picks 2015

Top Picks: Muhurat 2016

Company Details:
CMP(`)
NSE Symbol
BSE Code
Sector
Face Value (`)
Dividend Yield (%)
Market Cap (Cr)
EPS - TTM (`)
P/E Ratio (x)
Industry P/E
52w High/Low

Jamna Auto Industries

224.00
JAMNAAUTO
520051
Auto Parts
5.00
1.23
1782.66
10.84
20.60
24
239.65/105.50

Jamna Auto is India's largest, and amongst world's third largest,

manufacturer of tapered leaf springs and parabolic springs for
automobiles. The Company was first to introduce parabolic
springs in India. The Company is the market leader with 64%
market share in the India OEM segment and produces over 410
modes of springs for OEMs.
Attractive Valuation: The stock is trading at reasonable valuation
of +20 times of its trailing earnings with Industry leading RoE of
32%. Expect the stock to trade at 23 times of FY17E earnings of
12.5

Charts Check
Post trending up move over the last few months, the stock is in a
consolidation phase. After a timewise correction, it has given
breakout from Pennant pattern in daily scale (Line Chart),
indicating a fresh trending move in favour of bulls in near term.

Tata Chemicals Limited

Company Details:
CMP(`)
NSE Symbol
BSE Code
Sector
Face Value (`)
Dividend Yield (%)
Market Cap (Cr)
EPS - TTM (`)
P/E Ratio (x)
Industry P/E
52w High/Low

580.00
TATACHEM
500770
Commodity Chemicals
10.00
1.72
14769.50
32.71
17.73
18.00
582.10/309.60

A part of the over $100 billion Tata Group, Tata Chemicals is a

global company with interests in businesses like Industrial
chemicals, Farm solutions and Food & Nutrition. Tata Chemicals
is the worlds second largest producer of soda ash with
manufacturing facilities in Asia, Europe, Africa and North
America.
Lately, the management has begun exiting from fertilizer
business, which has become a drag on finances. Last fiscal, the
division generated 39% of revenues but contributed only 13% of
the operating profit. This move to exit from underperforming
assets augers well for the investors.

Charts Check:
In daily scale, the stock has given breakout from Flag pattern
with a rise in volume indicating resumption of primary trend and
heading towards +660 levels. The stock has already moved higher
from its breakout levels (above 560 mark); Accumulate the stock
till the support of 550-560 mark.

Exide Industries Limited

Company Details :
CMP(`)
NSE Symbol
BSE Code
Sector
Face Value (`)
Dividend Yield (%)
Market Cap (Cr)
EPS - TTM (`)
P/E Ratio (x)
Industry P/E
52w High/Low

200.00
EXIDEIND
500086
Auto Parts
1.00
1.18
17323.00
7.82
25.60
30.00
204.05/116

A leader in packaged power technology, Exide is India's largest

storage battery company with widest range of both
conventional flooded as well as latest VRLA batteries. Apart
from serving the domestic market the company exports
batteries which have captured niches in South East Asian and
European markets.
Lately, Exide has under-performed its peer Amaraja Bat due to
lower RoE but operational performance showing signs of
improvement and with GST getting cleared, Exide is on track to
regain its lost glory. Expect the stock to trade at 25 times of its
FY17E earnings of 9.40

Charts Check:
The stock is in a strong Up trend and is continuously making
higher peaks and troughs without violating its previous swing lows
in daily scale. Breakout from consolidation phase above 200 mark
is seen, indicating a major up move in the near term. Accumulate
the stock till the support of 190-195 mark.

Company Details :
CMP(`)
NSE Symbol
BSE Code
Sector
Face Value (`)
Dividend Yield (%)
Market Cap (Cr)
EPS - TTM (`)
P/E Ratio (x)
Industry P/E
52w High/Low

Adani Ports and Special Economic Zone

285.00
ADANIPORTS
532921
Marine Port & Services
2.00
0.39
59177.45
14.78
19.28
26.00
318/169.15

Adani Ports and Special Economic Zone is the seamless integration

of three verticals consisting of Ports, Logistics and SEZ. The
company has pan India presence and owns/operates ports and
terminals in nine locations, covering the entire Indian coastline.
The Mundra Port is the flagship port of APSEZ and is also Indias
largest commercial port and has a SEZ, contiguous to the port.
Compared to 4% growth in the industry, Adani Ports clocked 7%
rise in volumes in the June quarter. Helped by market share gains
and addition of new ports and facilities, the company expects
volumes to rise 10-15% in the current fiscal. Addressing high Debt
in the books, management has begun taking corrective measures.
In June quarter earnings concall, the company said that it plans to
reduce loans by Rs 1000 cr by the Sept quarter end and wipe
them out completely by the end of the current fiscal year.

Charts Check:
After a decent rally the stock has witnessed a sideways trading
range and breakout from consolidation phase in daily scale
backed by volume, indicating continuation of momentum in
favour of bulls.

Suven Life Sciences

Company Details :
CMP(`)
NSE Symbol
BSE Code
Sector
Face Value (`)
Dividend Yield (%)
Market Cap (Cr)
EPS - TTM (`)
P/E Ratio (x)
Industry P/E
52w High/Low

199.00
SUVEN
530239
Pharmaceuticals
1.00
1.00
2533.56
8.43
23.60
35.00
293.75/144.30

Suven Life Sciences is a biopharmaceutical company with its

headquarters in Hyderabad. It is in the business of designing,
manufacturing and supplying drug intermediates and fine
chemicals. The company operates in 3 segments: (a)
Manufacturing; (b) Services; and (c) R&D. Under manufacturing,
it develops and produces intermediates under contract services.
Its major chunk of revenue comes from exports which represents
89% of total turnover.
Tapping the key global markets through expansion of drug
discovery portfolio: Suven in the FY 2015-16 reached new
heights when it expanded into several new therapeutic areas,
corresponding to new chemical entity (NCE). The current patent
portfolio of this company now includes 24 from USA, 24 from
Australia, 12 from Israel, 19 from Japan, 23 from Europe, 24 from
Canada and similar exclusive rights from other countries. In July,
Suven has successfully completed US FDA Inspection of its
Pashamylarams Unit. So far Suven Life Sciences has filed 19
DMFs and 4 ANDAs from this facility which is FDA complaint
under cGMP and continued after renewal inspection. The grant
of these patents to Suven will give the company an opportunity
to cater to the needs of the global life science industry.

Company Details :
CMP(`)
NSE Symbol
BSE Code
Sector
Face Value (`)
Dividend Yield (%)
Market Cap (Cr)
EPS - TTM (`)
P/E Ratio (x)
Industry P/E
52w High/Low

Whirlpool of India Limited

1147.65
WHIRLPOOL
500238
Consumer Electronics
10.00
NA
14546.49
21.37
53.67
50.00
1197.9/555.55

Whirlpool of India Limited headquartered in Gurgaon, is one of

the leading manufacturers and marketers of major home
appliances in the country. The company owns three state-of-theart manufacturing facilities at Faridabad, Pondicherry and Pune.
Make in India Play: Whirlpool India is one of the largest
exporters of home appliances from India, supplying to more than
30 markets all over the world.
Good Monsoon to be a positive catalyst: The company is aiming
at a double digit sales growth this festive season, on the back of
good monsoon and payout for government staff following the
Seventh Pay panel award. For the festive season, Whirlpool has
launched products in all categories, starting with a new stainless
range in refrigerators.

Charts Check:
The stock has already given a stellar trending up move.
Accumulate in dips around the support of 20EMA (1077 mark).