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IFB INDUSTRIES LTD Share Price Update

As of the latest trading session, IFB INDUSTRIES LTD share price is currently at ₹1193.7, which is down by ₹-17.90 from its previous closing. Today, the stock has fluctuated between ₹1183.00 and ₹1219.80. Over the past year, IFB INDUSTRIES LTD has achieved a return of -1.39%. In the last month alone, the return has been -15.15%.

IFB INDUSTRIES LTD performance

Today’s low

Today’s high

₹ 1183.00 ₹ 1219.80
₹ 1193.70

52 week low

52 week high

₹ 1058.50 ₹ 2019.80
₹ 1193.70

Open Price

₹ 1191.00

Prev. Close

₹ 1211.60

Volume (Shares)

30427.00

Total traded value

₹ 363.20

Upper Circuit

₹ 1453.90

Lower Circuit

₹ 969.30

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Investment Returns

Over 1 Month [-]% Over 3 Months [-]% Over 6 Months [-]% Over 1 Year [-]%
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IFB INDUSTRIES LTD fundamentals


  • Market cap (Cr)

    4,836.90

  • P/E Ratio (TTM)

    40.21

  • Beta

    1.19

  • Book Value / share

    230.34

  • Return on equity

    16.26%

  • EPS (TTM)

    32.51

  • Dividend yield

    0.00%

  • Net profit/quarter (Cr)

    24.51

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  • Market cap (Cr)

    4,823.10

  • P/E Ratio (TTM)

    40.21

  • Beta

    1.14

  • Book Value / share

    230.34

  • Return on equity

    16.26%

  • EPS (TTM)

    32.51

  • Dividend yield

    0.00%

  • Net profit/quarter (Cr)

    24.51

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IFB INDUSTRIES LTD Financials

  • Key Results

  • Key Ratios

  • Balance sheet

  • Cash Flow

  • Competition

info-icon

Revenue

Net income

Particulars DEC 2025 (Values in Cr)
Revenue 1375.13
Operating Expense 1336.83
Net Profit 24.51
Net Profit Margin (%) 1.78
Earnings Per Share (EPS) 6.05
EBITDA 67.52
Effective Tax Rate (%) 23.14
Particulars SEP 2025 (Values in Cr)
Revenue 1319.94
Operating Expense 1258.29
Net Profit 49.75
Net Profit Margin (%) 3.76
Earnings Per Share (EPS) 12.27
EBITDA 102.50
Effective Tax Rate (%) 27.18
Particulars JUN 2025 (Values in Cr)
Revenue 1300.99
Operating Expense 1276.89
Net Profit 25.36
Net Profit Margin (%) 1.94
Earnings Per Share (EPS) 6.26
EBITDA 69.95
Effective Tax Rate (%) 25.25
Particulars MAR 2025 (Values in Cr)
Revenue 1300.49
Operating Expense 1282.34
Net Profit 22.29
Net Profit Margin (%) 1.71
Earnings Per Share (EPS) 5.50
EBITDA 69.39
Effective Tax Rate (%) 24.02
Particulars DEC 2024 (Values in Cr)
Revenue 1227.95
Operating Expense 1186.94
Net Profit 34.36
Net Profit Margin (%) 2.79
Earnings Per Share (EPS) 8.48
EBITDA 89.65
Effective Tax Rate (%) 23.44
Particulars MAR 2025 (Values in Cr)
Revenue 4942.28
Operating Expense 4805.93
Net Profit 128.79
Net Profit Margin (%) 2.60
Earnings Per Share (EPS) 31.79
EBITDA 324.61
Effective Tax Rate (%) 24.79
Particulars MAR 2024 (Values in Cr)
Revenue 4311.68
Operating Expense 4253.63
Net Profit 68.88
Net Profit Margin (%) 1.59
Earnings Per Share (EPS) 17.00
EBITDA 240.22
Effective Tax Rate (%) 23.77
Particulars MAR 2023 (Values in Cr)
Revenue 4104.05
Operating Expense 4091.85
Net Profit 17.24
Net Profit Margin (%) 0.42
Earnings Per Share (EPS) 4.25
EBITDA 182.99
Effective Tax Rate (%) 49.88
Particulars MAR 2022 (Values in Cr)
Revenue 3339.00
Operating Expense 3433.86
Net Profit -51.21
Net Profit Margin (%) -1.53
Earnings Per Share (EPS) -12.64
EBITDA 68.19
Effective Tax Rate (%) 33.25
Particulars MAR 2021 (Values in Cr)
Revenue 2731.33
Operating Expense 2656.64
Net Profit 62.22
Net Profit Margin (%) 2.27
Earnings Per Share (EPS) 15.36
EBITDA 227.69
Effective Tax Rate (%) 35.70
Particulars MAR 2025 (Values in Cr)
Book Value / Share 203.97
ROE % 13.66
ROCE % 15.73
Total Debt to Total Equity 0.27
EBITDA Margin 4.60
Particulars MAR 2024 (Values in Cr)
Book Value / Share 173.84
ROE % 6.16
ROCE % 8.77
Total Debt to Total Equity 0.37
EBITDA Margin 3.84
Particulars MAR 2023 (Values in Cr)
Book Value / Share 161.69
ROE % 1.49
ROCE % 5.05
Total Debt to Total Equity 0.54
EBITDA Margin 3.38
Particulars MAR 2022 (Values in Cr)
Book Value / Share 157.04
ROE % -7.17
ROCE % -3.59
Total Debt to Total Equity 0.49
EBITDA Margin 1.77
Particulars MAR 2021 (Values in Cr)
Book Value / Share 168.58
ROE % 9.55
ROCE % 12.28
Total Debt to Total Equity 0.48
EBITDA Margin 6.70
Particulars MAR 2025 (Values in Cr)
Book Value / Share 207.82
ROE % 16.26
ROCE % 17.93
Total Debt to Total Equity 0.26
EBITDA Margin 5.07
Particulars MAR 2024 (Values in Cr)
Book Value / Share 175.90
ROE % 9.96
ROCE % 11.50
Total Debt to Total Equity 0.37
EBITDA Margin 4.40
Particulars MAR 2023 (Values in Cr)
Book Value / Share 159.05
ROE % 2.67
ROCE % 6.16
Total Debt to Total Equity 0.55
EBITDA Margin 3.62
Particulars MAR 2022 (Values in Cr)
Book Value / Share 154.36
ROE % -7.73
ROCE % -3.96
Total Debt to Total Equity 0.49
EBITDA Margin 1.68
Particulars MAR 2021 (Values in Cr)
Book Value / Share 166.61
ROE % 9.32
ROCE % 12.19
Total Debt to Total Equity 0.47
EBITDA Margin 6.71
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 109.88
Total Assets 2357.62
Total Liabilities 2357.62
Total Equity 841.99
Share Outstanding 4
Price to Book Ratio 6.40
Return on Assets (%) 5.04
Return on Capital (%) 12.64
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 110.58
Total Assets 2179.79
Total Liabilities 2179.79
Total Equity 717.61
Share Outstanding 4
Price to Book Ratio 8.54
Return on Assets (%) 2.31
Return on Capital (%) 6.4
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 97.05
Total Assets 2106.79
Total Liabilities 2106.79
Total Equity 667.47
Share Outstanding 4
Price to Book Ratio 4.66
Return on Assets (%) 0.70
Return on Capital (%) 1.71
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 92.87
Total Assets 2030.46
Total Liabilities 2030.46
Total Equity 648.26
Share Outstanding 4
Price to Book Ratio 6.74
Return on Assets (%) -2.37
Return on Capital (%) -5.43
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 122.48
Total Assets 1891.41
Total Liabilities 1891.41
Total Equity 695.88
Share Outstanding 4
Price to Book Ratio 6.65
Return on Assets (%) 3.38
Return on Capital (%) 6.9
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 91.64
Total Assets 2350.27
Total Liabilities 2350.27
Total Equity 857.90
Share Outstanding 4
Price to Book Ratio 6.40
Return on Assets (%) 5.47
Return on Capital (%) 13.48
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 105.48
Total Assets 2162.85
Total Liabilities 2162.85
Total Equity 726.11
Share Outstanding 4
Price to Book Ratio 8.54
Return on Assets (%) 3.18
Return on Capital (%) 8.68
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 92.71
Total Assets 2071.70
Total Liabilities 2071.70
Total Equity 656.56
Share Outstanding 4
Price to Book Ratio 4.66
Return on Assets (%) 0.83
Return on Capital (%) 2.01
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 87.31
Total Assets 1998.72
Total Liabilities 1998.72
Total Equity 637.19
Share Outstanding 4
Price to Book Ratio 6.74
Return on Assets (%) -2.56
Return on Capital (%) -5.88
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 119.55
Total Assets 1856.90
Total Liabilities 1856.90
Total Equity 687.77
Share Outstanding 4
Price to Book Ratio 6.65
Return on Assets (%) 3.35
Return on Capital (%) 6.81
Particulars MAR 2025 (Values in Cr)
Net Income 163.45
Cash from Operations 162.58
Cash from Investing -90.10
Cash from Financing -23.11
Net change in Cash 4.79
Free Cash Flow 268.98
Particulars MAR 2024 (Values in Cr)
Net Income 72.99
Cash from Operations 360.74
Cash from Investing -137.54
Cash from Financing -185.58
Net change in Cash 27.48
Free Cash Flow 425.85
Particulars MAR 2023 (Values in Cr)
Net Income 32.18
Cash from Operations 108.53
Cash from Investing -6.04
Cash from Financing -94.14
Net change in Cash 5.35
Free Cash Flow 175.14
Particulars MAR 2022 (Values in Cr)
Net Income -73.66
Cash from Operations 56.21
Cash from Investing -27.24
Cash from Financing -51.45
Net change in Cash -28.13
Free Cash Flow 130.07
Particulars MAR 2021 (Values in Cr)
Net Income 98.91
Cash from Operations 298.43
Cash from Investing -186.63
Cash from Financing -111.77
Net change in Cash -6.48
Free Cash Flow 391.73
Particulars MAR 2025 (Values in Cr)
Net Income 171.26
Cash from Operations 145.69
Cash from Investing -88.83
Cash from Financing -21.58
Net change in Cash -7.77
Free Cash Flow 250.51
Particulars MAR 2024 (Values in Cr)
Net Income 90.36
Cash from Operations 359.62
Cash from Investing -139.61
Cash from Financing -182.74
Net change in Cash 27.11
Free Cash Flow 423.54
Particulars MAR 2023 (Values in Cr)
Net Income 34.40
Cash from Operations 109.75
Cash from Investing -6.69
Cash from Financing -93.17
Net change in Cash 6.89
Free Cash Flow 176.38
Particulars MAR 2022 (Values in Cr)
Net Income -76.72
Cash from Operations 50.68
Cash from Investing -26.01
Cash from Financing -49.81
Net change in Cash -30.57
Free Cash Flow 123.00
Particulars MAR 2021 (Values in Cr)
Net Income 96.77
Cash from Operations 304.67
Cash from Investing -185.58
Cash from Financing -118.66
Net change in Cash -6.04
Free Cash Flow 396.82
Company Name Price P/E P/B Market Cap 52 Week Low/High
ATLAS CYCLE (HARYANA) LTD 95.53 0.00 -1.95 62.13 77.00 / 162.84
BAJAJ ELECT.LTD 385.00 118.10 2.59 4442.45 382.35 / 749.35
BLUE STAR LIMITED 1974.75 75.98 13.04 40603.78 1521.20 / 2266.70
WHIRLPOOL OF INDIA LTD 888.90 32.25 2.76 11277.64 756.05 / 1471.00
Company Name Price P/E P/B Market Cap 52 Week Low/High
ATLAS CYCLE (HARYANA) LTD 95.53 0.00 -2.37 62.13 77.00 / 162.84
BAJAJ ELECT.LTD 385.00 95.77 2.86 4442.45 382.35 / 749.35
BLUE STAR LIMITED 1974.75 98.49 14.24 40603.78 1521.20 / 2266.70
DELTRON LTD. 11.73 4.81 0.38 3.34 0.00 / 0.00

IFB INDUSTRIES LTD shareholding pattern

Holding

18.03%
74.96%
0.96%
6.03%
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News

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IFB INDUSTRIES LTD Technicals Summary

  • EMA & SMA
  • Resistance and Support
  • Delivery and Volume
  • Beta
  • Price Change Analysis
1193.70 -1.47 redarrow
red-green-graph indicator
3 Bearish
13 Bullish
  • 5 Days 1200.80
  • 26 Days 1265.10
  • 10 Days 1189.90
  • 50 Days 1375.80
  • 12 Days 1194.00
  • 100 Days 1474.40
  • 20 Days 1231.50
  • 200 Days 1511.90
1210.93 PIVOT

First Support

1187.07

First Resistance

1235.47

Second Support

1162.53

Second Resistance

1259.33

Third Support

1138.67

Third Resistance

1283.87

RSI

41.03

ADX

60.08

MACD

-71.13

Williams % R

-36.34

Commodity Channel Index (CCI)

-0.53

Date

2026-02-12

Week

37062.00

Same Day

16824.00

Month

32820.00

1 Year

1.20

3 Year

1.02

Over 1 Month

-15.15%

down

Over 1 Year

-1.39%

down

Over 3 Months

-31.56%

down

Over 3 Years

13.32%

down

Over 6 Months

-5.39%

down

Over 5 Years

-1.96%

down

IFB INDUSTRIES LTD Corporate Actions

Top Gainers

up-arrow (%)

IFB INDUSTRIES LTD Share Price

IFB Industries Limited is engaged in the business of manufacturing of fine blanked components, components and stamping, in manufacturing and trading of home appliances and in the manufacture of cold rolled steel strips and motors. The Company operate in three segments, namely Engineering, Home Appliance and Others. The Engineering Divisions are located at Kolkata and Bangalore.

The Company's product range includes fine blanked components, tools and related machines tools, such straighteners, decoilers, strip loaders and others. They also provide household appliances, including washing machines, dryers, microwave ovens, and dishwashers. In addition, they manufacture motors for white goods and automotive applications. The Company is at present engaged in the business of manufacturing of diverse parts and accessories for motor vehicles etc. and manufacture and trading of Home Appliances Products.

IFB Industries Limited was incorporated on September 12, 1974 as 'Indian Fine Blanks Limited' in collaboration with Hienrich Schmid AG of Switzerland. The company was established with the objective of manufacturing fine blanking tools press tools and fine blanked components used in a wide range of precision engineering industries. The Company changed its name from Indian Fine Blank Limited to IFB Industries Limited with effect from July 19, 1989.

In the year 1985, the company took 4.84 acres of land on lease at Gangarampur in West Bengal for the manufacture of high technology machines as well as for future expansion-cum-diversification programmes.

In the year 1988, the company set up a new division, namely Project and Construction division to take up projects abroad as well as in India. In addition, the company in association with P A Rentrop Hubert and Wagner GmbH & Co KG West Germany set up a joint venture company called RHW India Pvt Ltd in India for the manufacture of automatic seat adjustment mechanism.

In the year 1989, the company entered into collaboration with Bosch-Siemens Hausgerate GmbH, Germany for production of fully automatic washing machines and for the manufacture of the state-of-the-art domestic appliances. The company set up a company called European Fine Blanking Ltd at Wrexham in North Wales, UK with their European partners for the manufacture of fine blanking tools and components for the UK and other European markets.

In the same year, RHW India Pvt Ltd became subsidiary of the company and the name was changed to RHW India Ltd. RHW India Ltd entered in a joint venture agreement with Electrolux Autoliv AB (Sweden) for setting up a joint venture company for the manufacture sale and export of automotive safety belts and accessories.

In the year 2000, the company launched their new fully automatic washing machine Senator in the Kerala market.

During the year 2002-03, the company launched a highly sophisticated washing machine 'IFB Digital' with advanced features in line with the latest international models. In addition, they introduced a new range of Microwave Ovens. The company added 250 Nos of retail outlets in different parts of the country.

During the year 2003-04, the company launched the new model washing machines 'Elena' and new model dryer 'Easy Drier'. In addition, the engineering factories at Kolkata & Bangalore have been certified as QS9000 by DNV.

During the year 2005-06, the company launched the new economy model washing machine 'DIVA' and high-end model DIGITAL 7 kg.

During the year 2006-07, the company introduced two new models of microwave ovens and started souring of industrial dishwasher.

During the year 2007-08, they introduced Top loaders and one new model microwave oven.

During the year 2017, the company invested in its subsidiary, Trishan Metals Private Ltd and acquired 51.12% equity shares of the same.

Global Appliances & Automotive Ltd. (GAAL), a wholly owned subsidiary company acquired during 2017-18 and step down subsidiary, Thai Automotive and Appliances Ltd. (TAAL).

On 1 October 2019, the Company aoquired on a going concem, the Stamping business on a slump sale basis from IFB Automotive Private Limited (a related party) for a consideration of Rs. 3,500 lacs.

Pursuant to the imposition of National Lockdown, the Company had suspended operations from 25th March, 2020. However partial operations have resumed since mid of May, 2020.

On 31 October 2020,the company has acquired the balance 48.88% (11474020 shares) equity shares from the other shareholders of Trishan Metals Pvt Ltd at a consideration of Rs. 1430 lacs, thereby making Trishan Metals Private Limited as its wholly owned subsidiary.

During year 2022, IFB Industries Ltd. acquired 51.12% equity shares of TMPL. Further, the Company (IFBIL) acquired the balance 48.88% (1,14,74,020 nos. equity shares) equity shares from the other shareholders of Trishan Metals Private Limited (TMPL) at a consideration of Rs. 1430 lacs, thereby making TMPL as its wholly owned subsidiary.

During 2022-23, Trishan Metals Pvt. Ltd, Erstwhile wholly owned subsidiary was amalgamated with the Company through Scheme of Amalgamation with with effect from April 1, 2021.

The Company has launched new models in the Cooker Hood category, a fast-growing category segment, with BLDC technology, filter-less, gesture sensor motions controls and heat auto clean functions in FY 2024.

Company started commercial production of BLDC motors for Front Load washing machines in FY 2024-25. With the introduction of the new range from the Industrial laundry division which was acquired business from Ramsons, the Division also features a complete commercial laundry solution range. The introduction of Washer Extractor and Clothes Dryer models at the 11 Kg Capacity segment - targeted at semi-commercial/ commercial laundry segments generated a healthy order book for the Company during the year. The Motor Division acquired Automotive Motor Division from IFB Automotive Pvt. Ltd and merged it with existing business. Further, it started new projects such as a platform of washer Extractors in 30 kg variant.

Parent organization IFB
NSE symbol IFBIND
Founded 1974
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Board Of Directors

Left Arrow

Bikram Nag

Executive Chairman

Sudip Banerjee

Non-Executive & Non-Independent Director

Rahul Choudhuri

Independent Non Exe. Director

Ashok Bhandari

Independent Non Exe. Director

Chacko Joseph

Independent Non Exe. Director

Amar Singh Negi

Executive Director / Service Business Head

Biswadip Gupta

Independent Non Exe. Director

D R Dogra

Independent Non Exe. Director

Ritesh Agarwal

Company Sec. & Compli. Officer

Panamanna Hariharan Narayanan

Managing Director

Sreedevi Pillai

Independent Director

C.s. Govindaraj

Executive Director (Manufactu

Tarun Kumar Daga

Additional Director

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Frequently Asked Questions

What is the Current Share Price of IFB Industries Ltd?

Answer Field

IFB Industries Ltd share price is for NSE ₹ 1,193.70 & for BSE ₹ 1,190.30 as on Feb 13 2026 03:30 PM.

What is the Market Cap of IFB Industries Ltd Share?

Answer Field

The market cap of IFB Industries Ltd for NSE ₹ 0.00 & for BSE ₹ 0.00 as on Feb 13 2026 03:30 PM.

What is the 52 Week High and Low of IFB Industries Ltd?

Answer Field

The 52 Week High and Low of IFB Industries Ltd for NSE is ₹ 2,019.80 and ₹ 1,058.50 and for BSE is ₹ 2,024.90 and ₹ 1,054.20.

What is 1 year return for IFB Industries Ltd?

Answer Field

The 1 year returns on the stock has been -1.39%.

What is the P/E Ratio of IFB Industries Ltd Share?

Answer Field

As on Feb 13 2026 03:30 PM the price-to-earnings (PE) ratio for IFB Industries Ltd share is 40.21.

What is the PB ratio of IFB Industries Ltd Share?

Answer Field

As on Feb 13 2026 03:30 PM, the price-to-book (PB) ratio for IFB Industries Ltd share is 230.34.

How to Buy IFB Industries Ltd Share?

Answer Field

You can trade in IFB Industries Ltd shares with Bajaj Broking by opening a demat account.

How to Buy IFB Industries Ltd Share on Bajaj Broking App?

Answer Field

To buy IFB Industries Ltd shares on the Bajaj Broking app, follow these steps:

• Login to the Bajaj Broking App

• Click on the Search Icon

• Search “IFB Industries 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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BSE Ltd. is not answerable, responsible or liable for any information on this Website or for any services rendered by our employees, our servants, and us.

Personal Loan, Fixed Deposit, EMI Card are provided by Bajaj Finance Limited. Bajaj Financial Securities Limited is only a distributor. These are not exchange traded products and all disputes with respect to the distribution activity, would not have access to exchange investor redressal forum or Arbitration mechanism.

No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account.

Please Note:

  1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020

  2. Update your mobile number & email ID with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge.

  3. Pay 20% upfront margin of the transaction value to trade in cash market segment.

  4. Investors may please refer to the Exchange's Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 and BSE vide notice no. 20200731-7 dated July 31, 2020 and 20200831-45 dated August 31, 2020 and other guidelines issued from time to time in this regard.

  5. Check your Securities /MF/ Bonds in the consolidated account statement issued by NSDL/CDSL every month.

Client Registration Documents (Rights & Obligations, Risk Disclosure Document, Do's & Don'ts) in Vernacular Language: BSE | NSE

If the client wishes to revoke /cancel the EDIS mandate placed by them, they can write on email us or call on the toll free number.

Advisory for Investors : NSE | BSE

We also do pro-account trading in Equity & Derivatives Segment.

Filling complaints on SCORES - Easy & Quick

A.  Register on SCORES portal B. Mandatory details for filling complaints on SCORES (i) Name, PAN, Address, Mobile Number, E-mail ID C. Benefits: (i) Effective Communication (ii) Speedy redressal of the grievances.

SEBI Registration No.: INZ000218931 | BSE Cash/CDS/F&O (Member ID: 6706) | NSE Cash/F&O/CDS (Member ID: 90177) | DP registration No : IN-DP-418-2019 | CDSL DP No.: 12088600 | NSDL DP No. IN304300 | AMFI Registration No.: ARN – 163403 Research Analyst SEBI Registration No. INH000010043

Compliance officer:

Mr. Boudhayan Ghosh 
TEL: 020-48574486
Email for any investor grievances or write to us for DP related matters.

DISCLAIMER

STANDARD DISCLAIMER

Investments in the securities market are subject to market risk, read all related documents carefully before investing.

Reg 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. SEBI Registration No.: INZ000218931 | BSE Cash/F&O/CDS (Member ID:6706) | NSE Cash/F&O/CDS (Member ID: 90177) | DP registration No: IN-DP-418-2019 | CDSL DP No.: 12088600 | NSDL DP No. IN304300 | AMFI Registration No.: ARN –163403. 

Website: Bajaj Broking

RESEARCH DISCLAIMER

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.