Gold Medal
Robusta Robustness
GDP vs Steel Demand
API imports
Gati Shakti
Silver supply
World First CNG Bike
Welcome Japanese
100% and more literally?
eVTOL : Emerging trend
Overtaking in 3W
Onsite : Offsite : Medium term trend
Import of Organic Chemicals
Direct tax collection
Underwhelming PLI
Shipbuilding chinese way
GIS : 90% bachat
Retirements : Coal Power
Pharma Boost
Dr. Copper
Gen AI
Pushing the CHIPS
Thermal power is still a king
Silver Demand : Long term trend
Death Rate : Nuclear winning
UNICORNS Changing Fast
TESLA EV : RIL
Ageing effects
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What’s Repeatable
Just 2 minutes : Nuke
Life Vs NonLife Insurance : Medium term trend
Gaming and Casino : Who wins in Evading GST
Solar Panel –Sunset happening
ZERO
OVER(Weight)
Coming Back : Semiconductors
Breeder Reactor
Tech revolution aftereffects
Shore to Shore
Yahi hai Right Choice : India
Travelers world
Luxury collectibles trend
Data Center Capacity : Long term trend
Ghosla banega
Next Destination : India
qPCR to dPCR
3 Kings
UHNI planning for Environment
Jupiter Wagons
Disclaimer – Analysis is NOT a BUY/SELL/HOLD Recommendation. It can be used for educational purposes. There could be lot of things which might have been missed in analysis either due to lack of information or oversight etc.. Do your own diligence & contact your expert financial adviser before making any investment decision.
Jupiter Wagons
Read Pick1, Pick2, Pick3, Pick4, Pick5, Pick6, Pick7, Pick8, Pick9, Pick10, Pick11, Pick12, Pick13
Business
Jupiter Wagons Limited (JWL) is a provider of comprehensive mobility solutions, with diverse offerings across Freight Wagons, Locomotives, Passenger Coaches (LHB), Braking Systems, Metro Coach, Commercial Vehicles, ISO Marine Containers, and products such as Couplers, Draft Gears, Bogies, and CMS Crossings. JWL has manufacturing facilities located in Kolkata, Jamshedpur, Indore, and Jabalpur with full backward integration to its foundry operations.
With a rich legacy over four decades, the Company has leveraged its deep technological capabilities and robust financial position to emerge as a one-stop shop for mobility solutions and reinforce its position as one of the fastest growing within the industry.
Products, Segments
Railway Wagons
Commercial Vehicles incluising Electric Light Commercial Vehicle business (eLCV)
CMS Crossing
Brake Systems & Brake Disc
Containers including Flex Containers, Marine containers , BESS containers
Strengths and Certifications
- The Group has established partnerships with leading global companies such as Tatravagonka (Slovakia), DAKO-CZ (Czech Republic), Kovis Proizvodna (Slovenia), Telleres Alegria S.A (Spain).
- Marquee clients associated with company
- JWL is one of India’s largest wagon manufacturers, with a capacity of 9,600 wagons per annum
- Improving scale of operations
- Healthy order book providing revenue visibility
- Experienced Management and leadership team
Clients
Catering to industries such as Railways (Freight + Passenger), Metro Rail, Automobile, Transportation, Logistics, Construction Equipment, Municipalities, Healthcare, Energy, Mining and Infrastructure, the Company boasts a marquee client base including the Indian Railways, American Railroads, Indian Ministry of Defense, Tata Motors, GE, Volvo Eicher Motors
Joint Ventures
Fundamental Ratios, Cash, Loans, EBITDA,PAT margin, Shareholding pattern
Consistent increase in sales over last 12 qtrs barring a quarter or so 994
Profits have multiplies by 8x in last 2 years
Consistent Tax records
ROCE and ROE is reasonably above 20%
Promoter has skin in game, FII is increasing stake, DII stake is stable
Recent Developments and Key Triggers
Dedicated Freight corridor, Projected Wagon demand, Improving logistics share through Railways are big triggers for continuous growth of this segment
- JWL has made a strategic entry into the global markets by signing a long-term Memorandum of Understanding (MOU) with RITES Limited, a prominent PSU associated with the Indian Railways, to explore opportunities in the international market for railway rolling stock projects. JWL’s focus is on the design, manufacturing, and supply of Railway wagons.
- The Company is focusing efforts on achieving Import Substitution, particularly in the areas of High-tech and Highend Containers. To further elevate global competitiveness, manufacturing facilities have been fully automated, enabling consistent production and maintaining world-class quality standards. The manufacturing facility is certified by both ‘LRQA’ and ‘BVQI’.
- A new foundry is scheduled to be established in Jabalpur over the next 18 months with a capacity of 2,000 tonnes, catering to both captive use and exports. This initiative is expected to yield cost savings in freight expenses.
- In the Marine Container Business, the outlook for specialized containers is improving as the Company has: Secured a contract for 40-foot ‘Open Top, Coil Containers’ with a pilot order worth ₹ 1,000 lakh.
- Received a Letter of Intent (LOI) from an Indian Subsidiary of a Prestigious Global Group for the supply of 1,000 units of special Flex Inverter containers for the fiscal year 2024-25.
- JV Company JWL DAKO CZ India Ltd. has received an order aggregating ~₹ 11,200 lakh for axle-mounted disc brake systems from Indian Railways.
- The BESS container, a key element in Solar and Data Centre Containers, offering energy storage capabilities has a huge market opportunity in round-the-clock Renewable Energy Projects as well as Commercial Industrial Energy storage in both domestic and international markets. With Jupiter’s expertise in making containers for this application, we now are looking forward to adding more value for the same by creating complete integrated solutions for varied markets.
- Successful Qualified Institutional Placement (QIP) in May and December 2023 amounting to ~ ₹ 528cr which includes prominent investors, including DIIs like Tata MF, HSBC MF, Bandhan Equity Fund, and FII’s like Societe Generale, and Copthall Mauritius Investment Limited.
- JWL is one of India’s largest wagon manufacturers, with a capacity of 9,600 wagons per annum with plans to enhance capacity to 12,000 wagons per annum by Q1 fiscal 2025.
- JWL has also ventured in brake disc, brake systems for rolling stock and weldable CMS Crossing manufacturing during fiscals 2023-24 equipping JWL to capitalize on robust spendings for developing high speed train infrastructure, and to fortify its market position in this segment, in Q1 fiscal 2024 JWL has acquired Stone India Limited, having extensive infrastructure and licensing for brake manufacturing.
Valuations
Looking at their growth currently and opportunity size in coming years, Stock is trading at fair value. Once the capacity comes online and if company executes the order well , it might look undervalued intermittently
Risks
Exposure to risks relating to fluctuation in raw material prices and intense competition: The key inputs include steel and related products. While the IR projects generally have a long execution period and are covered by a price-variation clause to a large extent, private sector orders are generally fixed in nature.
Cash flows poses a big risk due to intensive working capital operations
Valuations are subjective but definitely its not hugely undervalued in short term
Most orders are from Railways and have this dependency in business, though company is trying to diversify
Technicals on 11-May-24
Conclusion
If you have understood the triggers and industries it cater to + RISKS which can materialize and have patience then think of buying this company in every dip, market offers, else Ignore the stock
Stock might be volatile in short term and give a chance to buy around 425-525 range for long term investment purpose
Also Read : Savita Oil
ALSO READ : SS7 (Diwali to Diwali)
Disclaimer – Analysis is NOT a BUY/SELL/HOLD Recommendation. It can be used for educational purposes. There could be lot of things which might have been missed in analysis either due to lack of information or oversight etc.. Do your own diligence & contact your expert financial adviser before making any investment decision.
In case you have any questions/ queries, please feel free to reach me through Contact Form
Do spread the word among your peers, family members or anyone who can benefit from this blog and asked them to subscribe. But be selfish and take care of yourself first by subscribing before they do.
Enjoy the day and your life. Don’t forget, we are alone in this grand universe and may not get a chance to live again.
Savita Oil : Oiling is important
Disclaimer – Analysis is NOT a BUY/SELL/HOLD Recommendation. It can be used for educational purposes. There could be lot of things which might have been missed in analysis either due to lack of information or oversight etc.. Do your own diligence & contact your expert financial adviser before making any investment decision.
Savita Oil
Read Pick1, Pick2, Pick3, Pick4, Pick5, Pick6, Pick7, Pick8, Pick9, Pick10, Pick11, Pick12
Business
Savita Oil Technologies Limited, established in 1961, is a specialty petroleum products company engaged in manufacturing Transformer Oils, White Oils etc.
The Co manufactures products like Transformer Oils, Liquid Paraffins, White Oils, Automotive and Industrial Lubricants, Coolants and Greases, among others. These products are essentially obtained through refining base oil, and topped with additives to derive the required characteristics. A wide range of lubricants, greases, and coolants of the Co are sold to retail customers under the brand SAVSOL
The Co has a market share of ~35% in the domestic transformer oil and white oil segments.
The Co’s manufacturing facilities are situated in the state of Maharashtra and at Silvassa in the UT of Dadra and Nagar Haveli and Daman and Diu with total refining capacities of 450,000 kilolitres per annum. Its windmills are located at 18 sites in the states of Maharashtra, Tamil Nadu, and Karnataka and have an installed capacity to produce 54.15 MW of wind-powered electricity
Company has 80 % domestic sales vs 20% exports
Revenue distribution 75% from petroleum and 25% from lubricating oils
Unit I – Navi Mumbai, Maharashtra
Unit II – Mahad, Maharashtra
Unit III – Kharadpada, Silvassa
Unit IV – Silli, Silvassa
- 41 Stock points,
- 20,000 Retailers
- 400 Distributors
- 1,500 Franchise Dealers
Products, Segments and Strengths
Two major segments : Petroleum Oils and Lubricating Oils
Petroleum oils : Transformer oils, White and Mineral oil, Speciality oil : ~75% sales as portion of total sales over last 2 years
- Transformer oils : These oils are used as an insulating and cooling medium in distribution transformers, power transformers and instrumentation transformers
- White oils :
- Offer wide range of highly refined specialty mineral oil based products under the “TECHNOL” and “SAVONOL” brand.
- They manufacture petroleum jellies like Ultima White, Snow White, Yellow Petroleum Jelly and other specific industrial grade petrolatum’s under the brand “Savogel”
- Key properties of this fluids are good lubricity, smoothness, softness and resistance to moisture in the formulations
- Specialized waxes and emulsions including paraffin wax emulsions, microcrystalline wax, Polyethylene wax, oxidized PE wax and a range of wax emulsions. Wax Emulsion protect coating and ink surfaces for diverse applications
- Cable filling and flooding compounds for copper cables as well as Optic Fiber Cables under “Savofil”, “Savoflod” and “Vitagel” brand names. This compound helps moisture tolerance, softness and stability at an extreme temperature
3.Formulated & Specialty Products
- The 5G Telecom spectrum auction held in 2022 and subsequent rollout of the network is expected to generate healthy demand for this product
- › Growing demand from end user market
- › Government Linked PLI Scheme
- Key Growth Drivers
- Optic Fibre Cables
- Textile & Leather
- Auto components
- Polymers
- Refrigeration Compressors
- Construction Compounds
Lubricating oils : Automotive and Industrial oils
Automotive oils
- The lubricant brand SAVSOL manufactures and markets high performance lubricants, fluids, coolants & greases and is amongst the fastest growing lubricant brand of India
- It has a comprehensive range of automotive lubricants meeting the growing demand for sustainable products in various categories, i.e., Passenger Car Oils, Motorcycle Oils, Commercial Vehicle Oils, and Other Specialty Products
- SAVSOL portfolio has products which successfully meets the latest & stringent BS VI emission norms for automobiles
- Savita Oil Technologies known for its high quality lubricant manufacturing with state-of-the-art plants and technology centre has been amongst preferred supplier to automotive OEMs for a wide range of lubricant applications
- Trusted partner for leading automotive OEMs. Some of our OEM associations are existing for over two decades
- A fully equipped technical and quality control lab ensures high quality standards
Industrial oils
- Savita Oil Technologies has been a trusted partner to Industrial OEMs for a wide range of lubricant application needs.
- › It has an elaborate product portfolio under Brand “SAVSOL” catering to various Industrial applications and provides
- excellent lubrication, performance and protection to different types of Machines and Industrial Equipment
- The exhaustive portfolio includes wide range of Hydraulic Oils, Turbine Oils, Thermic Fluids, Heavy Duty Industrial Gear
- Oils, Transmission Oils, Greases, Heat Treatment (Quenching Oils), Metal Working Oils and other Specialty Oils
Strengths
Multi-decade relationships with many of our OEM and B2B customers across all product lines
In-house technology and R&D is the backbone of our company and has manifested many high quality products across the product portfolio.
Focus on innovation
Focus on sustainable products development
Management has almost 3 decades of experience.
Company has ISO and other necessary certifications in its field of operations
Clients
Fundamental Ratios, Cash, Loans, EBITDA,PAT margin, Shareholding pattern
Consistent record of Dividends since listing in 1994
Healthy cash generation over the years
Debt free balance sheet
Consistent track of profitability despite market volatility
Longstanding relationships with customers and vendors
Consistent Tax records
Cash conversion cycle and working capital cycle is good.
Cash flows seems good
ROCE is reasonably above 20%
Shareholding pattern
Promoter has skin in game. SBI energy fund has entered recently
ALSO READ : SS7 (Diwali to Diwali)
Recent Developments
Key triggers
Transformer oils : Rising Investments over the next decade in transmission segment to support higher generation capacity and rural electrification
Rising demand for modernization of aging grid infrastructure coupled with large scale capacity addition will boost the market
White oils : The Indian personal care industry is witnessing a boom due to changing perceptions, growing awareness, and the rise of direct-to-consumer (D2C) companies making waves in the online retail space
Growing demand of cosmetic and pharma products from urban & rural India
Product Innovation
Company is focused on building an independent distribution network for our industrial lubricants and with this now in place , they want to rapidly scale up industrial lubricant volumes
Company has created a subsidiary and moving towards plastic recycling
Savita Greentec Limited (a subsidiary of Savita Oil Technologies Limited) is expected to commence construction of Greenfield Projects in plastic recycling in theQ4Fy24
SAVSOL Bio Boost, one of India’s most biodegradable engine oils is launched
Oct23 – successfully commissioned new Synthetic Ester manufacturing plant
Commissioned new Synthetic Ester manufacturing plant at Mahad, Maharashtra with a designed capacity of 5,000 metric tons of which current operational capacity would be ~3,000 metric tonnes per annum
The new synthetic ester manufacturing plant will provide a strategic advantage to Savita by making it the first company in the world to manufacture and market all three classes of Transformer Fluids vis. Mineral Oil Based, Natural Ester Based as well as Synthetic Ester Based Transformer Fluids. The applications of these Esters are very versatile, and we will be able to leverage our existing client base to cross-sell these products while tapping new clientele. With these plant-based esters, we will have a more sustainable and environment friendly product range in the premium and synthetic categories. We plan to launch a new range of EV Coolants and immersion Cooling Fluids based on Esters from this plant. One of our products has already been approved by a reputed OEM as an EV coolant. We are also undertaking trials with another potential customer for immersion cooling.
Environment friendly products
Company have evaluated the introduction of versatile ester-based compounds (esters) in product range to enhance our diversified offerings of environmentally friendly products.
Group V Base Oils comprising Polyol, Phosphate and other Esters are the most superior performing fluids that exceed the performance of synthetic base oils on parameters of lubrication, thermal stability, oxidative stability, compatibility with most metals and sealants and biodegradable with low toxicity
Modernisation of Existing Transformers: Majority of India’s transformers and power infrastructure components are ageing and need replacement or modernisation. This drives the demand for newer, more efficient, and technologically advanced transformers.
Implementation of Smart Grid: The development of smart grids requires intelligent transformers that can handle bidirectional power flow, manage voltage fluctuations, and support grid automation. This opens avenues for technologically advanced transformers. Moreover, the demand for energy-efficient transformers that reduce transmission losses and improve overall grid efficiency is steadily expanding in India.
The transformer fluids market in India holds promising opportunities as the country strives to meet its increasing
power demands while addressing environmental concerns and adopting technological advancements.
Company is seeing a substantial increase in customer order books within the Power and Distribution Transformer sector, with their production capacity reserved for the coming 12-16 months. This heightened demand extends beyond India; the export segment to North America and other regions is also demonstrating promising growth potential. This is attributed to India’s competitive manufacturing ecosystem for transformers, well-suited to meet global requirements.
Alternative Fluids
Bio-Based – Your Company also produces bioTransol, a natural ester-based insulating fluid designed for transformers. This groundbreaking product was originally launched by Savita Polymers Limited (earlier a wholly-owned subsidiary of your Company which is in the process of being merged into your Company), in 2015. Remarkably, it marked the first instance of an Indian company introducing such a product to the market.
With an extensive reach, bioTransol has been applied to over 300 projects, solidifying its impact. This product promotes environmental consciousness with a high proportion of biodegradability. Moreover, its safety and efficiency surpass conventional options across various equipment applications.
Your Company is actively engaged in collaborating with major national and state utility boards, as well as Original
Equipment Manufacturers (OEM) clients, to showcase the product’s merits. Not only does bioTransol offer a more
effective solution within its grade, but it also embodies environmental sustainability. In an environment where global OEMs are compelled to reduce their carbon footprint, the appeal of such products is further enhanced.
Company is confident that the adoption of Natural Ester-Based Transformer Fluids will witness substantial growth, becoming an integral component of OEM consumption.
Synthetic Based – Your Company is poised to introduce Transol Synth100, a cutting-edge synthetic ester-based
insulation fluid. This fluid represents a significant advancement in transformer fluid technology, surpassing
existing solutions across a range of parameters.
Transol Synth100 stands as the most robust transformer fluid to date. As this product comes at a higher cost compared to mineral or natural esters, Transol Synth100 finds application in highly sensitive applications such as Locomotives (Metro and Rail), Mining, and Floating Solar projects. The overall lifecycle cost of this fluid effectively offsets its initial investment which will serve as a key driving force in the gradual transition from mineral to ester fluids within the ecosystem. With the launch of Transol Synth100 in the coming financial year, your Company will achieve a remarkable milestone, emerging as the sole manufacturer of the entire spectrum of transformer fluids – Mineral, Natural, and Synthetic.
Capex
Capacity Expansion Increasing capacity through continued investments for efficient leveraging of comprehensive and balanced product portfolio
Valuations
Reasonable valuations with PE <20. If the company shows growth in coming years as per their talk and opportunity size, this price looks undervalued
Risks
During the quarter under review, two critical components – Base Oils and the Exchange Rate have witnessed major volatility and both of these impacted us adversely. Base Oils Prices have fallen about 25% since June 2022 and the Indian rupee also depreciated significantly in the Quarter ending December, 2022. This resulted in
inventory and foreign exchange losses which have impacted our margins
Any policy changes can impact the company hard
Technicals on 28Apr24
Stock has given a breakout and volumes are supporting upmove as well
Conclusion
If you have understood the triggers and industries it cater to + RISKS which can materialize and have patience then think of buying this company in every dip, market offers, else Ignore the stock
Stock might be volatile in short term and give a chance to buy around 500-650 range for long term investment purpose
Also Read : ICEMAKE Refrigeration : Time to Chill
Disclaimer – Analysis is NOT a BUY/SELL/HOLD Recommendation. It can be used for educational purposes. There could be lot of things which might have been missed in analysis either due to lack of information or oversight etc.. Do your own diligence & contact your expert financial adviser before making any investment decision.
In case you have any questions/ queries, please feel free to reach me through Contact Form
Do spread the word among your peers, family members or anyone who can benefit from this blog and asked them to subscribe. But be selfish and take care of yourself first by subscribing before they do.
Enjoy the day and your life. Don’t forget, we are alone in this grand universe and may not get a chance to live again.
Protected: Positional Stocks 28-Apr-24
Protected: Positional Stocks 14-Apr-24
Inox India
Disclaimer – Analysis is NOT a BUY/SELL/HOLD Recommendation. It can be used for educational purposes. There could be lot of things which might have been missed in analysis either due to lack of information or oversight etc.. Do your own diligence & contact your expert financial adviser before making any investment decision.
Inox India
Read Pick1, Pick2, Pick3, Pick4, Pick5, Pick6, Pick7, Pick8, Pick9, Pick10, Pick11
Business
Inox India is World’s leading provider of customized cryogenic equipment with Over 30 years of experience in design , manufacturing and installation of cryogenic equipment
Global customer base across 100+ countries
Large-scale serial manufacturing facilities at four locations in India and part manufacturing and service distribution from one location at Brazil with service distribution extending to Brazil and the Netherlands
Products, Segments and Strengths :
Income in different segments and Export : Domestic Contribution
Orders in different segments and Export : Domestic Contribution
Serving Industrial Gas, LNG and Cryo Scientific Division
Working continuously towards Clean Energy initiatives in – LNG, Liquid Hydrogen & Fusion Energy
Company has done good over years , some of the things mentioned below
- Completion of supply & installation of Cryogenic equipment’s for second launch pad project of ISRO
- Manufacturing, installation and commissioning of COMNAVAC thermal vacuum system for ISRO1
- Installation of mini-LNG terminal, in Scotland, UK
- Commissioning of LNG dispensing station in Dahej & CNG cascade filling facility in Nagpur
- MOU with a Japanese conglomerate for exploring opportunities in virtual LNG pipeline
- Completion of manufacturing of cryolines & warmlines for ITER2
- Awarded contract for setting up of mini-LNG terminal for Caribbean LNG Inc, West Indies
- Manufactured and delivered an MRI cryostat for a GOI project
- Ventured into manufacturing stainless steel kegs for varied applications including beverages
- Produced and shipped 238 KL & 311 KL Liquid Hydrogen Tank to a South Korean customer
Company has
- In-house technology, and engineering capabilities
- Strong Product Development & Engineering Focus
- Integrated Facilities in India and Service Support Internationally
Clients and Certifications
Professional Management team
Fundamental Ratios, Cash, Loans, EBITDA,PAT margin, Shareholding pattern
ROCE and ROE are at reasonably good levels
Debt to Equity is almost Nil
Promoter has skin in game.
Sales, OPM, Net profit has been on rising trend continuously, OPM stable above 20%
Cash conversion cycle needs to be monitored.
Working capital days are good
ALSO READ : Pick1, Pick2, Pick3, Pick4, Pick5, Pick6, Pick7, Pick8, Pick9, Pick10, Pick11
Recent Developments
Orders received for thermal shield repair, LCNG stations, Export orders as well in Q3FY24
Order Inflow was at ₹.295 Cr, up by 7% YoY
Company recorded highest revenue in Industrial Gas division of ₹. 214 Cr
As on 9MFY24, the Order Backlog was at ₹.1,043 Cr with 50% orders from Industrial Gas, 23% orders from LNG and balance 27% orders from Cryo Scientific Division and export order comprised of 47% of the Order Backlog
Capex
Company has incurred greenfield capex at Savli plant of ₹.100 Cr, entirely funded through internal accruals
Focus on LNG and Hydrogen
Agreements
ATGL and INOXCVA enter into a mutual support agreement to strengthen LNG ecosystem in the country
Both companies will accord a preferred partner status for delivery of LNG equipment and services
Memorandum of Understanding towards collaboration for the development of technology for the design and manufacture of SuperConducting Magnet based System for clinical, industrial, defense and research applications.
Patents
Company has received Patent Rights from Patents Office, Government of India titled: “A METHOD FOR SUSPENDING INNER VESSELS OF DEW AR TYPE CONTAINER TO STORE CRYOGENIC FLUID” bearing
Patent No. 530403
Company jointly with Institute for Plasma Research has received Patent Rights from Patents Office, Government of India titled “DISPLACEMENT DECOUPLING ARRANGEMENT FOR PIPING SYSTEMS” bearing Patent No. 502670
Company has received Patent Rights from Patents Office, Government of India titled:
- ”A METHOD AND AN APPARATUS FOR DISPENSING LNG AS FUEL” bearing Patent No. 492614.
- “SLIDING SPACER AND ITS ASSEMBLY TO SUPPORT THE INTERNAL CRYOGENIC PROCESS PIPE CRYOLINE” bearing Patent No. 503868
Valuations
Company is richly valued and at price of 1356 could be Fairly overvalued as well. Due to certain moat in business it is doing, it is commanding rich valuations while Earnings Growth is only around 25%.
Risks
High Cash conversion cycle due to inherent nature of business. It needs to be monitored closely
Rich valuations. One bad quarter can lead to correction in stock prices
Exports having a significant contribution in sales. Any disruption due to escalation of ongoing conflicts like China Taiwan or Israel Palestine, Iran can cause temporary issues
Exposure to intense competition in international markets:
The company operates in the capital goods sector, which is cyclical in nature and susceptible to international policies governing end-user industries, such as oil and gas and industrial gases.
Technical Chart on 14Apr24
Survived well in last one month market correction and Recently made new highs. ANy correction towards 1250 zone, I would be tempted to add to my Position
Conclusion
If you have understood the triggers and industries it cater to + RISKS which can materialize and have patience then think of buying this company in every dip, market offers, else Ignore the stock
Also Read : ICEMAKE Refrigeration : Time to Chill
Disclaimer – Analysis is NOT a BUY/SELL/HOLD Recommendation. It can be used for educational purposes. There could be lot of things which might have been missed in analysis either due to lack of information or oversight etc.. Do your own diligence & contact your expert financial adviser before making any investment decision.
In case you have any questions/ queries, please feel free to reach me through Contact Form
Do spread the word among your peers, family members or anyone who can benefit from this blog and asked them to subscribe. But be selfish and take care of yourself first by subscribing before they do.
Enjoy the day and your life. Don’t forget, we are alone in this grand universe and may not get a chance to live again.