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INNOVACAP

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INNOVA CAPTAB LIMITED Share Price Update

As of the latest trading session, INNOVA CAPTAB LIMITED is trading at ₹877.2, up by ₹13.54 or 1.56% from its previous close. The stock has moved between ₹830.00 and ₹900.00 today. Over the past year, the stock has delivered a return of -1.34%. In the last month, it has returned 28.19%.

INNOVA CAPTAB LIMITED performance

Today’s low Today’s high
₹ 830.00 ₹ 900.00
₹ 875.75
52 week low 52 week high
₹ 622.00 ₹ 1020.70
₹ 875.75
Open Price ₹ 850.75
Prev. Close ₹ 863.65
Volume (Shares) 155822.00
Total traded value ₹ 1364.61
Upper Circuit ₹ 1036.35
Lower Circuit ₹ 690.95
info

Investment Returns

Over 1 Month 28.19% Over 3 Months 23.36% Over 6 Months 18.27% Over 1 Year -1.34%
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INNOVA CAPTAB LIMITED fundamentals


  • Market cap (Cr) 5,011.50
  • P/E Ratio (TTM) 59.84
  • Beta 0.74
  • Book Value / share 154.94
  • Return on equity 11.64%
  • EPS (TTM) 14.63
  • Dividend yield 0.00%
  • Net profit/quarter (Cr) 21.16
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  • Market cap (Cr) 5,009.80
  • P/E Ratio (TTM) 59.84
  • Beta 0.71
  • Book Value / share 154.94
  • Return on equity 11.64%
  • EPS (TTM) 14.63
  • Dividend yield 0.00%
  • Net profit/quarter (Cr) 21.16
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INNOVA CAPTAB LIMITED Financials

  • Key Results
  • Key Ratios
  • Balance sheet
  • Cash Flow
  • Competition
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Revenue
Net income
Particulars MAR 2026 (Values in Cr)
Revenue 358.28
Operating Expense 333.02
Net Profit 21.16
Net Profit Margin (%) 5.90
Earnings Per Share (EPS) 3.70
EBITDA 41.32
Effective Tax Rate (%) 24.23
Particulars DEC 2025 (Values in Cr)
Revenue 363.73
Operating Expense 329.61
Net Profit 27.90
Net Profit Margin (%) 7.67
Earnings Per Share (EPS) 4.88
EBITDA 50.20
Effective Tax Rate (%) 25.26
Particulars SEP 2025 (Values in Cr)
Revenue 289.83
Operating Expense 275.20
Net Profit 14.33
Net Profit Margin (%) 4.94
Earnings Per Share (EPS) 2.50
EBITDA 33.96
Effective Tax Rate (%) 25.63
Particulars JUN 2025 (Values in Cr)
Revenue 286.98
Operating Expense 264.00
Net Profit 20.30
Net Profit Margin (%) 7.07
Earnings Per Share (EPS) 3.55
EBITDA 39.14
Effective Tax Rate (%) 25.65
Particulars MAR 2025 (Values in Cr)
Revenue 242.52
Operating Expense 224.02
Net Profit 17.13
Net Profit Margin (%) 7.06
Earnings Per Share (EPS) 2.99
EBITDA 32.54
Effective Tax Rate (%) 25.06
Particulars MAR 2026 (Values in Cr)
Revenue 1298.81
Operating Expense 1200.23
Net Profit 83.69
Net Profit Margin (%) 6.44
Earnings Per Share (EPS) 14.63
EBITDA 164.60
Effective Tax Rate (%) 25.15
Particulars MAR 2025 (Values in Cr)
Revenue 958.06
Operating Expense 854.94
Net Profit 89.47
Net Profit Margin (%) 9.33
Earnings Per Share (EPS) 15.63
EBITDA 139.08
Effective Tax Rate (%) 25.37
Particulars MAR 2024 (Values in Cr)
Revenue 864.93
Operating Expense 781.95
Net Profit 68.16
Net Profit Margin (%) 7.88
Earnings Per Share (EPS) 13.48
EBITDA 118.69
Effective Tax Rate (%) 27.25
Particulars MAR 2023 (Values in Cr)
Revenue 858.67
Operating Expense 789.09
Net Profit 57.55
Net Profit Margin (%) 6.70
Earnings Per Share (EPS) 11.99
EBITDA 107.27
Effective Tax Rate (%) 26.51
Particulars MAR 2022 (Values in Cr)
Revenue 785.46
Operating Expense 699.68
Net Profit 66.18
Net Profit Margin (%) 8.42
Earnings Per Share (EPS) 550.05
EBITDA 101.36
Effective Tax Rate (%) 25.34
Particulars MAR 2025 (Values in Cr)
Book Value / Share 167.66
ROE % 14.33
ROCE % 14.50
Total Debt to Total Equity 0.33
EBITDA Margin 15.94
Particulars MAR 2024 (Values in Cr)
Book Value / Share 145.20
ROE % 17.04
ROCE % 18.76
Total Debt to Total Equity 0.38
EBITDA Margin 15.44
Particulars MAR 2023 (Values in Cr)
Book Value / Share 57.61
ROE % 28.01
ROCE % 23.92
Total Debt to Total Equity 0.73
EBITDA Margin 13.26
Particulars MAR 2022 (Values in Cr)
Book Value / Share 1738.38
ROE % 36.19
ROCE % 30.38
Total Debt to Total Equity 0.69
EBITDA Margin 12.35
Particulars MAR 2021 (Values in Cr)
Book Value / Share 1206.84
ROE % 27.04
ROCE % 28.18
Total Debt to Total Equity 0.39
EBITDA Margin 13.60
Particulars MAR 2025 (Values in Cr)
Book Value / Share 142.06
ROE % 11.64
ROCE % 11.53
Total Debt to Total Equity 0.37
EBITDA Margin 14.52
Particulars MAR 2024 (Values in Cr)
Book Value / Share 126.47
ROE % 13.74
ROCE % 14.44
Total Debt to Total Equity 0.42
EBITDA Margin 13.72
Particulars MAR 2023 (Values in Cr)
Book Value / Share 55.90
ROE % 24.02
ROCE % 21.34
Total Debt to Total Equity 0.70
EBITDA Margin 12.49
Particulars MAR 2022 (Values in Cr)
Book Value / Share 175.69
ROE % 37.22
ROCE % 32.34
Total Debt to Total Equity 0.62
EBITDA Margin 12.91
Particulars MAR 2021 (Values in Cr)
Book Value / Share 1206.84
ROE % 27.04
ROCE % 28.18
Total Debt to Total Equity 0.39
EBITDA Margin 13.60
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 68.16
Total Assets 1580.40
Total Liabilities 1580.40
Total Equity 959.41
Share Outstanding 5
Price to Book Ratio 6.18
Return on Assets (%) 8.11
Return on Capital (%) 9.9
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 86.74
Total Assets 1320.88
Total Liabilities 1320.88
Total Equity 830.89
Share Outstanding 5
Price to Book Ratio 3.54
Return on Assets (%) 7.14
Return on Capital (%) 8.8
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 18.87
Total Assets 704.41
Total Liabilities 704.41
Total Equity 276.50
Share Outstanding 4
Price to Book Ratio 0.00
Return on Assets (%) 9.64
Return on Capital (%) 13.28
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 2.43
Total Assets 575.47
Total Liabilities 575.47
Total Equity 208.60
Share Outstanding 0
Price to Book Ratio 0.00
Return on Assets (%) 11.11
Return on Capital (%) 15.72
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 11.89
Total Assets 369.61
Total Liabilities 369.61
Total Equity 144.82
Share Outstanding 0
Price to Book Ratio 0.00
Return on Assets (%) 9.33
Return on Capital (%) 18.17
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 67.89
Total Assets 1365.14
Total Liabilities 1365.14
Total Equity 812.96
Share Outstanding 5
Price to Book Ratio 6.18
Return on Assets (%) 6.55
Return on Capital (%) 7.85
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 86.35
Total Assets 1155.06
Total Liabilities 1155.06
Total Equity 723.71
Share Outstanding 5
Price to Book Ratio 3.54
Return on Assets (%) 5.90
Return on Capital (%) 7.07
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 14.98
Total Assets 678.33
Total Liabilities 678.33
Total Equity 268.32
Share Outstanding 4
Price to Book Ratio 0.00
Return on Assets (%) 8.48
Return on Capital (%) 11.43
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 2.18
Total Assets 544.91
Total Liabilities 544.91
Total Equity 210.82
Share Outstanding 1
Price to Book Ratio 0.00
Return on Assets (%) 12.14
Return on Capital (%) 17.11
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 11.89
Total Assets 369.61
Total Liabilities 369.61
Total Equity 144.82
Share Outstanding 0
Price to Book Ratio 0.00
Return on Assets (%) 9.33
Return on Capital (%) 18.17
Particulars MAR 2025 (Values in Cr)
Net Income 171.01
Cash from Operations 87.55
Cash from Investing -151.58
Cash from Financing 91.53
Net change in Cash 3.79
Free Cash Flow 260.05
Particulars MAR 2024 (Values in Cr)
Net Income 129.52
Cash from Operations 173.99
Cash from Investing -498.97
Cash from Financing 360.83
Net change in Cash 8.20
Free Cash Flow 461.35
Particulars MAR 2023 (Values in Cr)
Net Income 91.79
Cash from Operations 86.65
Cash from Investing -90.84
Cash from Financing 27.09
Net change in Cash 3.37
Free Cash Flow 165.64
Particulars MAR 2022 (Values in Cr)
Net Income 85.72
Cash from Operations 79.74
Cash from Investing -188.11
Cash from Financing 124.57
Net change in Cash -4.64
Free Cash Flow 159.62
Particulars MAR 2021 (Values in Cr)
Net Income 46.34
Cash from Operations 54.79
Cash from Investing -19.67
Cash from Financing -19.33
Net change in Cash 2.55
Free Cash Flow 73.53
Particulars MAR 2025 (Values in Cr)
Net Income 119.89
Cash from Operations 39.19
Cash from Investing -99.74
Cash from Financing 83.86
Net change in Cash 3.91
Free Cash Flow 200.12
Particulars MAR 2024 (Values in Cr)
Net Income 93.69
Cash from Operations 135.66
Cash from Investing -471.55
Cash from Financing 368.13
Net change in Cash 8.25
Free Cash Flow 412.89
Particulars MAR 2023 (Values in Cr)
Net Income 78.30
Cash from Operations 58.18
Cash from Investing -87.53
Cash from Financing 51.28
Net change in Cash 3.03
Free Cash Flow 137.07
Particulars MAR 2022 (Values in Cr)
Net Income 88.63
Cash from Operations 79.25
Cash from Investing -188.33
Cash from Financing 125.29
Net change in Cash -4.69
Free Cash Flow 159.12
Particulars MAR 2021 (Values in Cr)
Net Income 46.34
Cash from Operations 54.94
Cash from Investing -19.67
Cash from Financing -19.33
Net change in Cash 2.56
Free Cash Flow 73.68
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
AMBALAL SARABHAI ENTERPRISES L 33.09 14.32 1.71 253.58 23.12 40.44
BLISS GVS PHARMA LTD. 269.35 25.75 2.51 2849.43 105.05 280.20
CIPLA LTD 1347.70 22.90 3.30 108864.87 1165.55 1672.20
FERMENTA BIOTECH LTD. 288.70 9.60 2.17 849.67 252.15 399.00
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
AMBALAL SARABHAI ENTERPRISES L 33.09 31.82 4.61 253.58 23.12 40.44
AMRUTANJAN HEALTH CARE LTD. 548.80 27.44 4.63 1586.62 490.00 789.95
ASTRAZENECA PHARMA INDIA LTD. 8489.25 102.02 26.56 21223.13 7630.00 10653.05
BLISS GVS PHARMA LTD. 269.35 36.70 2.58 2849.43 105.05 280.20

INNOVA CAPTAB LIMITED shareholding pattern

Holding
28.73%
50.89%
0.23%
20.13%
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News

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INNOVA CAPTAB LIMITED Technicals Summary

  • EMA & SMA
  • Resistance and Support
  • Delivery and Volume
  • Beta
  • Price Change Analysis
875.75 1.40 redarrow
red-green-graph indicator
0 Bearish
16 Bullish
  • 5 Days 850.70
  • 26 Days 761.90
  • 10 Days 815.60
  • 50 Days 735.30
  • 12 Days 805.00
  • 100 Days 730.80
  • 20 Days 775.60
  • 200 Days 752.30
866.93 PIVOT
First Support 849.87 First Resistance 880.72 Second Support 836.08 Second Resistance 897.78 Third Support 819.02 Third Resistance 911.57
RSI 78.35 ADX 30.80 MACD 43.03 Williams % R -12.27 Commodity Channel Index (CCI) 142.00
Date 2026-05-08 Week 76461.00 Same Day 70444.00 Month 57813.00
1 Year 0.75 3 Year 0.87
Over 1 Month
28.19% down
Over 1 Year
-1.34% down
Over 3 Months
23.36% down
Over 3 Years
17.38% down
Over 6 Months
18.27% down
Over 5 Years
0.00% down

INNOVA CAPTAB LIMITED Corporate Actions

Dividend date Dividend amount Dividend type Record date Instrument type
30 Jan 2026 2.0 Interim 30 Jan 2026 Equity shares
Dividend date Dividend amount Dividend type Record date Instrument type
30 Jan 2026 2.0 Interim 30 Jan 2026 Equity shares

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INNOVA CAPTAB LIMITED Share Price

Innova Captab Limited was incorporated as Harun Health Care Private Limited', dated January 3, 2005, as a Private Limited Company at Mumbai. Thereafter, the name of the Company was changed from Harun Health Care Private Limited' to Innova Captab Private Limited', and a fresh Certificate of Incorporation dated February 2, 2010, was issued by RoC to the Company. Subsequently, Company got converted to a Public Company on July 12, 2018, and the name was changed to Innova Captab Limited', dated July 26, 2018.

The Company is an integrated pharmaceutical company in India with a presence across the pharmaceuticals value chain including research and development, manufacturing, drug distribution and marketing and exports. Their business includes contract development and manufacturing organization (CDMO) business providing manufacturing services to Indian pharmaceutical companies, domestic branded generics business and an international branded generics business.

Their CDMO product portfolio spans across both acute and chronic therapeutic areas. These CDMO services and products include commercial large-scale manufacturing of generic products, which allow customers in offering multiple dosage forms, including oral solids, oral liquids, dry syrups and injectables, modified and release forms of tablets in capsules. It has 2 manufacturing facilities in Baddi, Himachal Pradesh. Their facilities further produce tablets, capsules, dry syrups, dry powder injections, ointments and liquid orals.

In 2006, the first manufacturing plant got established in Baddi, at Himachal Pradesh.

In 2010, it commenced operations at the cephalosporin block of their plant in Baddi.

In 2021, the Company acquired business of Innova Captab, a Partnership Firm, as a going concern through Slump Sale effective in March, 2021 and acquired Univentis Medicare Limited (UML) 100% equity shares effective on December 31, 2021 and consequently, The Univentis Foundation became a Subsidiary of Company on June 14, 2021.

The Company commenced construction to establish an industrial plant in Jammu and Kashmir and to build an R&D center in Panchkula, Haryana in 2022.

In December 2023, the Company came up with an IPO aggregating to Rs 570 Crores by issuing 12,723,214 Equity Shares, comprising 7,142,857 Equity Shares aggregating to Rs 320 Crore through Fresh Issue and 5,580,357 Equity Shares aggregating to Rs 250 Crore through Offer for Sale.

The Company acquired Sharon Bio-Medicine Limited in June, 2023. In 2024-25, Company commissioned a new greenfield facility in Kathua, Jammu w.e.f. 14 January, 2025.

Parent organization Indian Private
NSE symbol INNOVACAP
Founded 2005
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Board Of Directors

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Manoj Kumar Lohariwala Chairman / Executive Director / WTD
Vinay Kumar Lohariwala Managing Director
Jayant Vasudeo Rao E D & Wholetime Director
Anchit Aggarwal Non-Exec & Non-Independent Dir
Sudhir Kumar Bassi Independent Non Exe. Director
Priyanka Dixit Sibal Independent Non Exe. Director
Mahendar Korthiwada Independent Non Exe. Director
Shirish Gundopant Belapure Independent Non Exe. Director
Neeharika Shukla Company Sec. & Compli. Officer
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Frequently Asked Questions

What is the Current Share Price of Innova Captab Ltd?

Answer Field

Innova Captab Ltd share price is for NSE ₹ 877.20 & for BSE ₹ 875.40 as on May 08 2026 03:29 PM.

What is the Market Cap of Innova Captab Ltd Share?

Answer Field

The market cap of Innova Captab Ltd for NSE ₹ 0.00 & for BSE ₹ 0.00 as on May 08 2026 03:29 PM.

What is the 52 Week High and Low of Innova Captab Ltd?

Answer Field

The 52 Week High and Low of Innova Captab Ltd for NSE is ₹ 1,020.70 and ₹ 622.00 and for BSE is ₹ 1,002.95 and ₹ 608.25.

What is 1 year return for Innova Captab Ltd?

Answer Field

The 1 year returns on the stock has been -1.34%.

What is the P/E Ratio of Innova Captab Ltd Share?

Answer Field

As on May 08 2026 03:29 PM the price-to-earnings (PE) ratio for Innova Captab Ltd share is 59.84.

What is the PB ratio of Innova Captab Ltd Share?

Answer Field

As on May 08 2026 03:29 PM, the price-to-book (PB) ratio for Innova Captab Ltd share is 154.94.

How to Buy Innova Captab Ltd Share?

Answer Field

You can trade in Innova Captab Ltd shares with Bajaj Broking by opening a demat account.

How to Buy Innova Captab Ltd Share on Bajaj Broking App?

Answer Field

To buy Innova Captab Ltd shares on the Bajaj Broking app, follow these steps:

• Login to the Bajaj Broking App

• Click on the Search Icon

• Search “Innova Captab 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.