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BCPL Railway Infrastructure Li Share Price Update

As of the latest trading session, BCPL Railway Infrastructure Li share price is currently at ₹61.01, which is up by ₹0.59 from its previous closing. Today, the stock has fluctuated between ₹59.20 and ₹61.98. Over the past year, BCPL Railway Infrastructure Li has achieved a return of -5.77%. In the last month alone, the return has been -11.33%.

Investment Returns

Over 1 Month [-]% Over 3 Months [-]% Over 6 Months [-]% Over 1 Year [-]%
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BCPL Railway Infrastructure Li fundamentals


  • Market cap (Cr)

    [-]

  • P/E Ratio (TTM)

    [-]

  • Beta

    [-]

  • Book Value / share

    [-]

  • Return on equity

    [-]%

  • EPS (TTM)

    [-]

  • Dividend yield

    [-]%

  • Net profit/quarter (Cr)

    [-]

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  • Market cap (Cr)

    99.80

  • P/E Ratio (TTM)

    10.29

  • Beta

    1.11

  • Book Value / share

    59.10

  • Return on equity

    9.01%

  • EPS (TTM)

    5.87

  • Dividend yield

    [-]%

  • Net profit/quarter (Cr)

    1.78

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BCPL Railway Infrastructure Li Financials

  • Key Results

  • Key Ratios

  • Balance sheet

  • Cash Flow

  • Competition

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Revenue

Net income

Particulars DEC 2025 (Values in Cr)
Revenue 16.23
Operating Expense 13.74
Net Profit 1.78
Net Profit Margin (%) 10.96
Earnings Per Share (EPS) 1.06
EBITDA 3.13
Effective Tax Rate (%) 30.46
Particulars SEP 2025 (Values in Cr)
Revenue 23.57
Operating Expense 20.99
Net Profit 3.35
Net Profit Margin (%) 14.21
Earnings Per Share (EPS) 2.00
EBITDA 5.28
Effective Tax Rate (%) 25.55
Particulars JUN 2025 (Values in Cr)
Revenue 27.32
Operating Expense 25.96
Net Profit 1.96
Net Profit Margin (%) 7.17
Earnings Per Share (EPS) 1.17
EBITDA 3.38
Effective Tax Rate (%) 24.71
Particulars MAR 2025 (Values in Cr)
Revenue 56.57
Operating Expense 54.23
Net Profit 2.74
Net Profit Margin (%) 4.84
Earnings Per Share (EPS) 1.64
EBITDA 3.97
Effective Tax Rate (%) 2.83
Particulars DEC 2024 (Values in Cr)
Revenue 30.43
Operating Expense 28.85
Net Profit 1.48
Net Profit Margin (%) 4.86
Earnings Per Share (EPS) 0.88
EBITDA 3.84
Effective Tax Rate (%) 39.09
Particulars MAR 2025 (Values in Cr)
Revenue 131.96
Operating Expense 125.32
Net Profit 8.29
Net Profit Margin (%) 6.28
Earnings Per Share (EPS) 4.95
EBITDA 14.33
Effective Tax Rate (%) 19.90
Particulars MAR 2024 (Values in Cr)
Revenue 87.93
Operating Expense 83.19
Net Profit 5.52
Net Profit Margin (%) 6.27
Earnings Per Share (EPS) 3.30
EBITDA 10.39
Effective Tax Rate (%) 25.90
Particulars MAR 2023 (Values in Cr)
Revenue 122.79
Operating Expense 114.41
Net Profit 8.08
Net Profit Margin (%) 6.58
Earnings Per Share (EPS) 4.83
EBITDA 12.94
Effective Tax Rate (%) 27.14
Particulars MAR 2022 (Values in Cr)
Revenue 105.41
Operating Expense 97.03
Net Profit 7.41
Net Profit Margin (%) 7.02
Earnings Per Share (EPS) 4.43
EBITDA 11.80
Effective Tax Rate (%) 29.73
Particulars MAR 2021 (Values in Cr)
Revenue 82.91
Operating Expense 74.20
Net Profit 7.94
Net Profit Margin (%) 9.57
Earnings Per Share (EPS) 4.75
EBITDA 13.35
Effective Tax Rate (%) 25.97
Particulars MAR 2025 (Values in Cr)
Book Value / Share 55.64
ROE % 5.56
ROCE % 7.99
Total Debt to Total Equity 0.63
EBITDA Margin 8.13
Particulars MAR 2024 (Values in Cr)
Book Value / Share 53.25
ROE % 6.18
ROCE % 9.31
Total Debt to Total Equity 0.25
EBITDA Margin 11.73
Particulars MAR 2023 (Values in Cr)
Book Value / Share 50.48
ROE % 9.94
ROCE % 15.12
Total Debt to Total Equity 0.03
EBITDA Margin 10.50
Particulars MAR 2022 (Values in Cr)
Book Value / Share 46.10
ROE % 9.61
ROCE % 14.40
Total Debt to Total Equity 0.03
EBITDA Margin 11.18
Particulars MAR 2025 (Values in Cr)
Book Value / Share 56.69
ROE % 9.01
ROCE % 12.38
Total Debt to Total Equity 0.23
EBITDA Margin 10.86
Particulars MAR 2024 (Values in Cr)
Book Value / Share 53.32
ROE % 6.36
ROCE % 10.55
Total Debt to Total Equity 0.11
EBITDA Margin 11.82
Particulars MAR 2023 (Values in Cr)
Book Value / Share 50.50
ROE % 10.00
ROCE % 15.26
Total Debt to Total Equity 0.03
EBITDA Margin 10.54
Particulars MAR 2022 (Values in Cr)
Book Value / Share 46.10
ROE % 10.04
ROCE % 14.91
Total Debt to Total Equity 0.05
EBITDA Margin 11.18
Particulars MAR 2021 (Values in Cr)
Book Value / Share 42.16
ROE % 11.92
ROCE % 17.66
Total Debt to Total Equity 0.11
EBITDA Margin 16.10
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 19.86
Total Assets 206.19
Total Liabilities 206.19
Total Equity 98.99
Share Outstanding 1
Price to Book Ratio 1.15
Return on Assets (%) 3.22
Return on Capital (%) 3.81
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 7.31
Total Assets 156.08
Total Liabilities 156.08
Total Equity 96.59
Share Outstanding 1
Price to Book Ratio 1.78
Return on Assets (%) 3.48
Return on Capital (%) 3.99
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 1.98
Total Assets 115.51
Total Liabilities 115.51
Total Equity 91.06
Share Outstanding 1
Price to Book Ratio 0.74
Return on Assets (%) 6.96
Return on Capital (%) 8.59
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 7.58
Total Assets 103.12
Total Liabilities 103.12
Total Equity 77.96
Share Outstanding 1
Price to Book Ratio 0.82
Return on Assets (%) 7.18
Return on Capital (%) 9.22
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 7.67
Total Assets 149.43
Total Liabilities 149.43
Total Equity 94.80
Share Outstanding 1
Price to Book Ratio 1.15
Return on Assets (%) 5.54
Return on Capital (%) 6.84
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 7.29
Total Assets 124.22
Total Liabilities 124.22
Total Equity 89.17
Share Outstanding 1
Price to Book Ratio 1.78
Return on Assets (%) 4.44
Return on Capital (%) 5.23
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 0.19
Total Assets 107.93
Total Liabilities 107.93
Total Equity 84.45
Share Outstanding 1
Price to Book Ratio 0.74
Return on Assets (%) 7.48
Return on Capital (%) 9.29
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 7.42
Total Assets 101.53
Total Liabilities 101.53
Total Equity 77.10
Share Outstanding 1
Price to Book Ratio 0.82
Return on Assets (%) 7.30
Return on Capital (%) 9.32
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 9.22
Total Assets 81.41
Total Liabilities 81.41
Total Equity 70.49
Share Outstanding 1
Price to Book Ratio 1.56
Return on Assets (%) 9.75
Return on Capital (%) 10.54
Particulars MAR 2025 (Values in Cr)
Net Income 6.20
Cash from Operations -2.06
Cash from Investing -10.65
Cash from Financing 28.97
Net change in Cash 12.55
Free Cash Flow 35.40
Particulars MAR 2024 (Values in Cr)
Net Income 7.28
Cash from Operations -0.68
Cash from Investing -24.22
Cash from Financing 34.23
Net change in Cash 6.63
Free Cash Flow 4.11
Particulars MAR 2023 (Values in Cr)
Net Income 11.03
Cash from Operations 3.44
Cash from Investing -9.99
Cash from Financing 2.12
Net change in Cash -6.91
Free Cash Flow 7.21
Particulars MAR 2022 (Values in Cr)
Net Income 10.55
Cash from Operations 7.25
Cash from Investing -3.62
Cash from Financing -3.09
Net change in Cash -1.64
Free Cash Flow 11.96
Particulars MAR 2025 (Values in Cr)
Net Income 10.34
Cash from Operations 7.21
Cash from Investing -8.59
Cash from Financing 5.42
Net change in Cash 0.38
Free Cash Flow 7.46
Particulars MAR 2024 (Values in Cr)
Net Income 7.44
Cash from Operations 2.55
Cash from Investing -3.10
Cash from Financing 9.99
Net change in Cash 7.06
Free Cash Flow 4.69
Particulars MAR 2023 (Values in Cr)
Net Income 11.09
Cash from Operations 4.15
Cash from Investing -6.15
Cash from Financing -2.75
Net change in Cash -7.23
Free Cash Flow 4.53
Particulars MAR 2022 (Values in Cr)
Net Income 10.55
Cash from Operations 6.56
Cash from Investing -1.48
Cash from Financing -4.69
Net change in Cash -1.79
Free Cash Flow 8.28
Particulars MAR 2021 (Values in Cr)
Net Income 10.73
Cash from Operations 19.36
Cash from Investing -0.29
Cash from Financing -7.34
Net change in Cash 9.06
Free Cash Flow 19.55
Company Name Price P/E P/B Market Cap 52 Week Low/High
RELIANCE INFRASTRUCTU LTD 81.46 0.77 0.19 3328.71 81.46 / 425.00
CEMINDIA PROJECTS LIMITED 531.75 19.46 4.46 9134.80 477.00 / 943.20
GAMMON INDIA LTD. 1.45 0.00 0.00 53.59 0.00 / 0.00
HINDUSTAN CONSTRUCTION CO.LTD. 14.96 23.75 1.87 3918.72 14.62 / 31.47
Company Name Price P/E P/B Market Cap 52 Week Low/High
RELIANCE INFRASTRUCTU LTD 81.46 0.00 0.13 3328.71 81.46 / 425.00
CEMINDIA PROJECTS LIMITED 531.75 19.51 4.46 9134.80 477.00 / 943.20
GAMMON INDIA LTD. 1.45 0.00 0.00 53.59 0.00 / 0.00
HINDUSTAN CONSTRUCTION CO.LTD. 14.96 11.08 1.30 3918.72 14.62 / 31.47

BCPL Railway Infrastructure Li shareholding pattern

Holding

27.13%
72.86%
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BCPL Railway Infrastructure Li Technicals Summary

  • EMA & SMA
  • Resistance and Support
  • Delivery and Volume
  • Beta
  • Price Change Analysis
59.67 -1.22 redarrow
red-green-graph indicator
16 Bearish
0 Bullish
  • 5 Days 61.20
  • 26 Days 64.90
  • 10 Days 62.10
  • 50 Days 67.70
  • 12 Days 62.50
  • 100 Days 71.30
  • 20 Days 64.00
  • 200 Days 75.80
60.47 PIVOT

First Support

59.45

First Resistance

61.44

Second Support

58.48

Second Resistance

62.46

Third Support

57.46

Third Resistance

63.43

RSI

28.77

ADX

23.54

MACD

-2.42

Williams % R

-90.33

Commodity Channel Index (CCI)

-96.23

Date

2026-03-16

Week

10388.00

Same Day

5246.00

Month

7185.00

1 Year

1.12

3 Year

0.80

Over 1 Month

-11.33%

down

Over 1 Year

-5.77%

down

Over 3 Months

-17.07%

down

Over 3 Years

15.02%

down

Over 6 Months

-25.57%

down

Over 5 Years

-4.90%

down

BCPL Railway Infrastructure Li Corporate Actions

Dividend date Dividend amount Dividend type Record date Instrument type
13 Jun 2025 1.0 Final 13 Jun 2025 Equity shares
19 Sep 2024 0.7 Final 20 Sep 2024 Equity shares
19 Jul 2023 0.7 Final 19 Jul 2023 Equity shares
29 Jul 2022 0.7 Final 01 Aug 2022 Equity shares
04 Aug 2021 0.7 Final 06 Aug 2021 Equity shares
06 Aug 2020 0.2 Final 08 Aug 2020 Equity shares
26 Mar 2020 0.4 Interim 27 Mar 2020 Equity shares
20 Jun 2019 0.6 Final 22 Jun 2019 Equity shares

Top Gainers

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BCPL Railway Infrastructure Li Share Price

BCPL Railway Infrastructure Limited was originally incorporated as a Private Limited Company with the name 'Bapi Construction Electrical Engineering Private Limited' on December 08, 1995. Subsequently, upon change in Company name to 'BCPL Railway Infrastructure Private Limited' on July 31, 2008, it then got converted to a Public Company to 'BCPL Railway Infrastructure Limited' on August 05, 2008 and a Fresh Certificate of Incorporation was issued by the Registrar of Companies, West Bengal.

The Company is engaged in the field of Railway Infrastructure Development involving design, drawing, supply, Erection and Commissioning of 25KV, 50Hz Single Phase Traction Overhead Equipment. The key clients of the Company include various zones of the Indian Railways like Eastern Railway, South Eastern Railway, South East Central Railway, Northern Railway, East Coast Railway, North Frontier Railway, East Central Railway, Central Organisation for Railway Electrification (CORE) as well as large Public and Private Sector Undertakings like RITES Ltd., Durgapur Projects Ltd., Essel Mining Industries Ltd.,Adhunik Group, Usha Martin Industries Ltd, Jindal Steel and Power Ltd., Rungta Mines, Haldia Energy Limited, Electrosteel, etc.

The Company first ventured into a highly technical field, overhead electrification of the Indian Railways and through series of events over the successive years made rapid and spectacular progress in its chosen field of work. It started the business as a Civil Contractor for the Indian Railways. This was in the late of the 90's when there were very few contractors in the electrification area and the Indian Railways realized the importance of electrification of the railway routes.

In 2016-17, the Company completed Work under the control of the Railway Electrification, Kolkata relating to 25 KV A.C., Single phase, 50 Hz, Traction Overhead Equipments in Khana(Excl.)-Sainthia-Pakur(Incl.), Eastern Railway; 132/25 KV Traction Sub-Station at Rampurhat in Khana-Sainthia-Pakur Section and Dubrajpur in Pandabeshwar-Sainthia of Eastern Railway. As Joint Venture partner with EMC Ltd. work under the control of the Chief Electrical Engineer, Railway Electrification relating to OHE,TSS,SCADA & General Electrical Works in Vizianagaram-Singapur Road, Section Gr. 166 of Waltair Division of East Coast Railway of Rs. 88 cr (app.).

In October 2018, the Company raised money from public by issuing 48,60,000 Equity Shares aggregating to Rs 17.01 Crores, comprising of 42,00,000 Fresh Issue of Equity Shares aggregating to Rs 14.7 Crore and an Offer for Sale of 6,60,000 Equity Shares aggregating Rs 2.31 Crore.

In FY 2021, the project, Katwa-Azimganj and Monigram-Nalhati sections of Howrah and Malda Divisions was completed. The Company also started the Merchant Export Business for export of food and other products in 2022.

In 2023, the Company completed the transmission line works under Military Engineering Service (MES) at CWE, Binnaguri, in serving the defence sector.

During the year 2025, Company has completed Electrification from Katwa to Azimganj and Azimganj-Nalhati and New Farakka to enhance connectivity along the strategic border of the Country, Electrification New Bongaigaon to Goalpara Town to Kamakhya to open connectivity in the North Eastern parts of the Country; Electrification from Singapur Road to Damanjodi through difficult terrain to open connectivity in the rural and forested areas of Odisha; Electrification from Sakurbasti to Rohtak and modification of the New Delhi Yard and Anand Bihar Station, Electrification at Ranaghat, Gede and Bongaon Section and Power Station at Chitpur Terminal to ease out traffic movement connecting Bangladesh, Electrification from Ghutiarisariff to Canning and Kakdwip to Namkhana to facilitate tourism at Sundarbans Areas and at Ganga Sagar Mela, Electrification from Beas-GoindwalTarn Taran Amritsar Section and to enhance connectivity at the northern part of the Country, Electrification from Krishnanagar to Lalgola, Electrification by its JV from Vizianagaram to Singapur Road to ease iron ore access from Vizag Port.

Parent organization Indian Private
NSE symbol [-]
Founded 1995
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Board Of Directors

Left Arrow

Aparesh Nandi

Chairman & Non Executive Dir.

Jayanta Kumar Ghosh

Executive Director & MD

Uday Narayan Singh

Executive Director & CFO

Debasis Sircar

Executive Non Independent Dir.

Sanghamitra Mukherjee

Independent Non Exe. Director

Swapan Kumar Chakraborty

Independent Non Exe. Director

Sudipta Kumar Mukherjee

Independent Non Exe. Director

Ranajit Kumar Mondal

Independent Non Exe. Director

Devshree Sinha

Company Sec. & Compli. Officer

Right Arrow

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Frequently Asked Questions

What is the Current Share Price of BCPL Railway Infrastructure Ltd?

Answer Field

BCPL Railway Infrastructure Ltd share price is for NSE ₹ 0.00 & for BSE ₹ 59.67 as on Mar 17 2026 12:41 PM.

What is the Market Cap of BCPL Railway Infrastructure Ltd Share?

Answer Field

The market cap of BCPL Railway Infrastructure Ltd for NSE ₹ 0.00 & for BSE ₹ 99.80 as on Mar 17 2026 12:41 PM.

What is the 52 Week High and Low of BCPL Railway Infrastructure Ltd?

Answer Field

The 52 Week High and Low of BCPL Railway Infrastructure Ltd for NSE is ₹ 0.00 and ₹ 0.00 and for BSE is ₹ 119.91 and ₹ 59.20.

What is 1 year return for BCPL Railway Infrastructure Ltd?

Answer Field

The 1 year returns on the stock has been -5.77%.

What is the P/E Ratio of BCPL Railway Infrastructure Ltd Share?

Answer Field

As on Mar 17 2026 12:41 PM the price-to-earnings (PE) ratio for BCPL Railway Infrastructure Ltd share is 10.29.

What is the PB ratio of BCPL Railway Infrastructure Ltd Share?

Answer Field

As on Mar 17 2026 12:41 PM, the price-to-book (PB) ratio for BCPL Railway Infrastructure Ltd share is 59.10.

How to Buy BCPL Railway Infrastructure Ltd Share?

Answer Field

You can trade in BCPL Railway Infrastructure Ltd shares with Bajaj Broking by opening a demat account.

How to Buy BCPL Railway Infrastructure Ltd Share on Bajaj Broking App?

Answer Field

To buy BCPL Railway Infrastructure Ltd shares on the Bajaj Broking app, follow these steps:

• Login to the Bajaj Broking App

• Click on the Search Icon

• Search “BCPL Railway Infrastructure Ltd”

• Click on the BUY icon

• Place a buy order specifying the desired quantity of shares.

• Click BUY again to complete the purchase

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Broking services offered by Bajaj Financial Securities Limited | Registered Office: Bajaj Auto Limited Complex , Mumbai –Pune Road Akurdi Pune 411035 | Corporate Office: Bajaj Financial Securities Limited, 1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014 | CIN: U67120PN2010PLC136026 | Research Analyst SEB I Registration No: INH000010043.

Details of Compliance Officer: 

Mr. Boudhayan Ghosh (For Broking/DP/Research)
Email | Contact No.: 020-4857 4486 

Investment in the securities involves risks, investor should consult his own advisors/consultant to determine the merits and risks of investment.

DISCLOSURES

Disclosures under the provisions of SEBI (Research Analysts) Regulations 2014 (Regulations) 

Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities. There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. This research report has been prepared and distributed byBajaj Financial Securities Limited in the capacity of a Research Analyst as per Regulation 22(1) of SEBI (Research Analysts) Regulations 2014 having SEBI Registration No. INH000010043. 

DISCLAIMER

This e-mail/ short message service (SMS) may contain confidential, proprietary or legally privileged information. It should not be used by anyone who is not the original intended recipient. If you have erroneously received this message, please delete it immediately and notify the sender. The recipient acknowledges thatBajaj Financial Securities Limited or its holding and/or associated companies, as the case may be, are unable to exercise control or ensure or guarantee the integrity of/over the contents of the information contained in e-mail /SMS transmissions and further acknowledges that any views expressed in this message are those of the individual sender and no binding nature of the message shall be implied or assumed unless the sender does so expressly with due authority of Bajaj Financial Securities Limited. This message is not intended as an offer or publication or solicitation for distribution for subscription of or purchase or sale of any securities or financial instrument(s) to anyone in whose jurisdiction such subscription etc. requires prior local regulatory clearance or is contrary to the local laws of the land in any manner or as an official confirmation of any transaction. Before opening any attachments, please check them for viruses and defects. 

This service / information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose unless otherwise expressly authorised. This service / information is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subjectBajaj Financial Securities Limited and affiliates/ group/holding companies to any registration or licensing requirements within such jurisdiction. The distribution of this document in certain jurisdictions may be restricted by law, and persons in whose possession this document comes, should inform themselves about and observe any such restrictions.  

The data would be provided to the clients on an "as is" and "where-is" basis, without any warranty. Bajaj Financial Securities Limited or its subsidiaries and associated companies shall not be liable for any delay or any other interruption which may occur in providing the data due to any reason including network (Internet) reasons or snags in the system, breakdown of the system or any other equipment, server breakdown, maintenance shutdown, breakdown of communication services or inability of the Bajaj Financial Securities Limited or its subsidiaries and associated companies to provide the data. In no event shall the Bajaj Financial Securities Limited or its holding and associated companies be liable for any damages, including without limitation direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with the data provided by the Bajaj Financial Securities Limited or its holding and associated companies.

ADDITIONAL DISCLAIMER FOR U.S. PERSONS

Bajaj Financial Securities Limited is not a registered broker-dealer under the U.S. Securities Exchange Act of 1934, as amended (the"1934 act") and under applicable state laws in the United States. In addition, Bajaj Financial Securities Limited is not a registered investment adviser under the U.S. Investment Advisers Act of 1940, as amended (the "Advisers Act" and together with the 1934 Act, the "Acts), and under applicable state laws in the United States. Accordingly, in the absence of specific exemption under the Acts, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for U.S. persons. This email message does not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services and/or shall not be considered as an advertisement tool. "U.S. Persons" are generally defined as a natural person, residing in the United States or any entity organized or incorporated under the laws of the United States. US Citizens living abroad may also be deemed "US Persons" under certain rules.  

ADDITIONAL DISCLAIMER FOR CANADIAN PERSONS

Bajaj Financial Securities Limited is not a registered adviser or dealer under applicable Canadian securities laws nor has it obtained an exemption from the adviser and/or dealer registration requirements under such law. Accordingly, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for Canadian persons.  

This mailer and its respective contents do not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services.  

DISCLAIMER FOR REPORT

DISCLOSURES UNDER THE PROVISIONS OF SEBI (RESEARCH ANALYSTS) REGULATIONS 2014 (REGULATIONS)

Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities.  

This Report has been prepared by Bajaj Financial Securities Limited in the capacity of a Research Analyst having SEBI Registration No. INH000010043 and distributed as per SEBI (Research Analysts) Regulations 2014. This report does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. The information contained herein is from publicly available data or other sources believed to be reliable. This report is provided for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Each recipient of this report should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult his own advisors to determine the merits and risks of such investment. The investment discussed or views expressed may not be suitable for all investors.  

This information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject Bajaj Financial Securities Limited and associates / group companies to any registration or licensing requirements within such jurisdiction. The distribution of this report in certain jurisdictions may be restricted by law, and persons in whose possession this report comes, should observe, any such restrictions. The information given in this report is as of the date of this report and there can be no assurance that future results or events will be consistent with this information. This information is subject to change without any prior notice. Bajaj Financial Securities Limited reserves the right to make modifications and alterations to this statement as may be required from time to time. Bajaj Financial Securities Limited or any of its associates / group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Bajaj Financial Securities Limited is committed to providing independent and transparent recommendation to its clients. Neither Bajaj Financial Securities Limited nor any of its associates, group companies, directors, employees, agents or representatives shall be liable for any damages whether direct, indirect, special or consequential including loss of revenue or lost profits that may arise from or in connection with the use of the information. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. Past performance is not necessarily a guide to future performance .The disclosures of interest statements incorporated in this report are provided solely to enhance the transparency and should not be treated as endorsement of the views expressed in the report. The information provided in these reports remains, unless otherwise stated, the copyright of Bajaj Financial Securities Limited. All layout, design, original artwork, concepts and other Intellectual Properties, remains the property and copyright of Bajaj Financial Securities Limited and may not be used in any form or for any purpose whatsoever by any party without the express written permission of the copyright holders.  

We offer our research services to clients as well as our prospects. Though this report is disseminated to all the customers simultaneously, not all customers may receive this report at the same time. We will not treat recipients as customers by virtue of their receiving this report.  

Bajaj Financial Securities Limited and its associates, officer, directors, and employees, research analyst (including relatives) worldwide may: (a) from time to time, have long or short positions in, and buy or sell the securities thereof, of company(ies), mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the subject company/company(ies) discussed herein or act as advisor or lender/borrower to such company(ies) or have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance. Bajaj Financial Securities Limited may have proprietary long/short position in the above-mentioned scrip(s) and therefore should be considered as interested. The views provided herein are general in nature and do not consider risk appetite or investment objective of any particular investor; readers are requested to take independent professional advice before investing. This should not be construed as invitation or solicitation to do business with Bajaj Financial Securities Limited.  

Bajaj Financial Securities Limited or its associates may have received compensation from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have managed or co-managed public offering of securities for the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received compensation for investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report. Research analyst or his/her relative or Bajaj Financial Securities Limited’s associates may have financial interest in the subject company. Bajaj Financial Securities Limited, its associates, research analyst and his/her relative may have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance.  

Research analyst has served as an officer, director or employee of subject Company: No  

Bajaj Financial Securities Limited has financial interest in the subject companies: No  

Bajaj Financial Securities Limited’s Associates may have actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report.  

Research analyst or his/her relative has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No  

Bajaj Financial Securities Limited has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No  

Subject company may have been client during twelve months preceding the date of distribution of the research report.  

There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. A graph of daily closing prices of the securities is also available at NSE

ANALYST CERTIFICATION

The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report.  

RISK DISCLOSURE ON DERIVATIVES

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to ₹ 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.

BROKERAGE DISCLAIMER

All leveraged intraday positions will be squared off on the same day. There is no restriction on the withdrawal of the unutilised margin amount. Brokerage will not exceed the SEBI prescribed limit. Visit : Pricing

MTF 

As subject to the provisions of SEBI Circular CIR/MRD/DP/54/2017 dated June 13, 2017, and the terms and conditions mentioned in the lights and obligations statement issued by the TM (if applicable).  

US INVESTING

International investment is not supervised by any regulatory body in India. Thus, any claim or dispute relating to such investment or enforcement of any agreement/contract /claim will not be under laws and regulations of the recognized stock exchanges and investor protection under Indian Securities Law. The account opening process will be carried out on Vested platform and Bajaj Financial Securities Limited will not have any role in it.  

IPO 

This should not be construed as soliciting investment. Investors’ discretion is required. Kindly consult your financial expert before investing. No need to issue cheques by investors while subscribing to IPO. Investments in securities markets are subject to market risks, read all the related documents carefully before investing.  

SCREENERS 

Screeners is not Exchange-approved products and any disputes related to the same will not be dealt on the Exchange platform. 

SECURITIES 

Securities quoted are exemplary and not recommendatory. 

IPV 

Account would be open after all procedure relating to IPV and client due diligence is completed. 

IMAGES 

The images used are only for representation purpose. Proper due diligence has been done for the images and the image is not of any artist. The same is captured from royalty free sites.

THIRD PARTY PRODUCT DISCLAIMER

Bajaj Financial Securities Limited is a distributor for Non-Broking Products/Services such as Mutual Funds, Mutual Funds SIP, IPO, Bonds, Insurance, PMS, Global Investing, any other third-party products/services. These are not Exchange Traded Products, and we are only acting as distributors. All disputes with respect to the distribution activity, would not have access to SCORES/ODR, Exchange investor redressal forum or Arbitration mechanism. Please refer to the detailed disclaimer for Third-Party Products.

DISCLOSURE TO CLIENTS REGARDING PAYOUT OF FUNDS

As per SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/84 dated June 08, 2023, Stockbrokers are required to upstream the entire client funds lying with them to the Clearing Corporation. Based on client’s request the funds’ release request must be placed with the Clearing Corporation. Based on the internal process and cut-off timelines of the Clearing Corporation the funds will be released to the Stock Broker. In view of this new process, as specified by the regulatory and the cut-off time of Clearing Corporation/Banks processing the funds, Bajaj Financial Securities Limited cannot commit the exact time for releasing funds payout to its client. Clients are requested to note that, Bajaj Financial Securities Limited will not be responsible for any inconvenience caused to clients due to delay in release of funds payout, including fines, delayed charges, defaults, etc.