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INNOVANA THINKLABS LTD Share Price Update

As of the latest trading session, INNOVANA THINKLABS LTD is trading at ₹405.35, up by ₹29.55 or 7.86% from its previous close. The stock has moved between ₹367.35 and ₹436.85 today. Over the past year, the stock has delivered a return of 15.20%. In the last month, it has returned 16.68%.

INNOVANA THINKLABS LTD performance

Today’s low Today’s high
₹ 367.35 ₹ 436.85
₹ 410.75
52 week low 52 week high
₹ 315.00 ₹ 649.50
₹ 410.75
Open Price ₹ 391.05
Prev. Close ₹ 375.80
Volume (Shares) 78296.00
Total traded value ₹ 321.60
Upper Circuit ₹ 450.95
Lower Circuit ₹ 300.65
info

Investment Returns

Over 1 Month 16.68% Over 3 Months 5.78% Over 6 Months -22.59% Over 1 Year 15.20%
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INNOVANA THINKLABS LTD fundamentals


  • Market cap (Cr) 848.60
  • P/E Ratio (TTM) 24.69
  • Beta 0.94
  • Book Value / share 82.96
  • Return on equity 25.04%
  • EPS (TTM) 15.23
  • Dividend yield 0.00%
  • Net profit/quarter (Cr) 7.96
info icon alternate text
  • Market cap (Cr) 838.80
  • P/E Ratio (TTM) 26.66
  • Beta 0.71
  • Book Value / share 82.96
  • Return on equity 25.04%
  • EPS (TTM) 15.23
  • Dividend yield 0.00%
  • Net profit/quarter (Cr) 7.96
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INNOVANA THINKLABS LTD Financials

  • Key Results
  • Key Ratios
  • Balance sheet
  • Cash Flow
  • Competition
info-icon
Revenue
Net income
Particulars DEC 2025 (Values in Cr)
Revenue 12.67
Operating Expense 3.86
Net Profit 7.96
Net Profit Margin (%) 62.82
Earnings Per Share (EPS) 3.86
EBITDA 11.60
Effective Tax Rate (%) 26.15
Particulars SEP 2025 (Values in Cr)
Revenue 10.83
Operating Expense 2.88
Net Profit 9.10
Net Profit Margin (%) 84.02
Earnings Per Share (EPS) 4.44
EBITDA 12.45
Effective Tax Rate (%) 25.34
Particulars JUN 2025 (Values in Cr)
Revenue 11.77
Operating Expense 2.54
Net Profit 7.98
Net Profit Margin (%) 67.79
Earnings Per Share (EPS) 3.89
EBITDA 10.93
Effective Tax Rate (%) 25.28
Particulars MAR 2025 (Values in Cr)
Revenue 10.78
Operating Expense 3.40
Net Profit 6.43
Net Profit Margin (%) 59.64
Earnings Per Share (EPS) 3.14
EBITDA 8.98
Effective Tax Rate (%) 25.92
Particulars DEC 2024 (Values in Cr)
Revenue 11.11
Operating Expense 2.84
Net Profit 7.03
Net Profit Margin (%) 63.27
Earnings Per Share (EPS) 3.43
EBITDA 10.28
Effective Tax Rate (%) 26.54
Particulars MAR 2025 (Values in Cr)
Revenue 43.28
Operating Expense 11.87
Net Profit 29.58
Net Profit Margin (%) 68.34
Earnings Per Share (EPS) 14.43
EBITDA 41.53
Effective Tax Rate (%) 25.54
Particulars MAR 2024 (Values in Cr)
Revenue 48.51
Operating Expense 18.55
Net Profit 30.32
Net Profit Margin (%) 62.50
Earnings Per Share (EPS) 14.79
EBITDA 41.81
Effective Tax Rate (%) 24.72
Particulars MAR 2023 (Values in Cr)
Revenue 41.91
Operating Expense 23.70
Net Profit 17.38
Net Profit Margin (%) 41.46
Earnings Per Share (EPS) 16.91
EBITDA 24.81
Effective Tax Rate (%) 25.56
Particulars MAR 2022 (Values in Cr)
Revenue 30.50
Operating Expense 19.18
Net Profit 11.38
Net Profit Margin (%) 37.31
Earnings Per Share (EPS) 11.29
EBITDA 16.77
Effective Tax Rate (%) 25.52
Particulars MAR 2021 (Values in Cr)
Revenue 33.81
Operating Expense 25.87
Net Profit 8.82
Net Profit Margin (%) 26.08
Earnings Per Share (EPS) 8.91
EBITDA 12.92
Effective Tax Rate (%) 25.38
Particulars MAR 2025 (Values in Cr)
Book Value / Share 100.22
ROE % 22.57
ROCE % 27.07
Total Debt to Total Equity 0.18
EBITDA Margin 64.33
Particulars MAR 2024 (Values in Cr)
Book Value / Share 79.66
ROE % 30.18
ROCE % 35.11
Total Debt to Total Equity 0.13
EBITDA Margin 58.81
Particulars MAR 2023 (Values in Cr)
Book Value / Share 54.25
ROE % 24.13
ROCE % 25.81
Total Debt to Total Equity 0.14
EBITDA Margin 41.95
Particulars MAR 2022 (Values in Cr)
Book Value / Share 84.03
ROE % 28.14
ROCE % 32.17
Total Debt to Total Equity 0.10
EBITDA Margin 52.15
Particulars MAR 2021 (Values in Cr)
Book Value / Share 64.82
ROE % 26.74
ROCE % 32.27
Total Debt to Total Equity 0.01
EBITDA Margin 35.55
Particulars MAR 2025 (Values in Cr)
Book Value / Share 64.87
ROE % 25.04
ROCE % 32.03
Total Debt to Total Equity 0.06
EBITDA Margin 95.96
Particulars MAR 2024 (Values in Cr)
Book Value / Share 50.39
ROE % 34.38
ROCE % 42.83
Total Debt to Total Equity 0.06
EBITDA Margin 86.19
Particulars MAR 2023 (Values in Cr)
Book Value / Share 35.64
ROE % 26.62
ROCE % 33.45
Total Debt to Total Equity 0.07
EBITDA Margin 59.17
Particulars MAR 2022 (Values in Cr)
Book Value / Share 56.12
ROE % 21.73
ROCE % 27.78
Total Debt to Total Equity 0.06
EBITDA Margin 55.02
Particulars MAR 2021 (Values in Cr)
Book Value / Share 46.08
ROE % 20.69
ROCE % 27.62
Total Debt to Total Equity 0.01
EBITDA Margin 38.30
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 12.07
Total Assets 278.20
Total Liabilities 278.20
Total Equity 211.16
Share Outstanding 2
Price to Book Ratio 4.56
Return on Assets (%) 15.86
Return on Capital (%) 20.4
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 5.71
Total Assets 208.65
Total Liabilities 208.65
Total Equity 166.39
Share Outstanding 2
Price to Book Ratio 10.72
Return on Assets (%) 19.62
Return on Capital (%) 23.55
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 4.44
Total Assets 171.25
Total Liabilities 171.25
Total Equity 111.20
Share Outstanding 2
Price to Book Ratio 8.73
Return on Assets (%) 15.70
Return on Capital (%) 23.9
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 52.33
Total Assets 157.59
Total Liabilities 157.59
Total Equity 86.13
Share Outstanding 1
Price to Book Ratio 8.11
Return on Assets (%) 13.19
Return on Capital (%) 23.17
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 47.06
Total Assets 137.26
Total Liabilities 137.26
Total Equity 66.44
Share Outstanding 1
Price to Book Ratio 2.14
Return on Assets (%) 11.32
Return on Capital (%) 23.12
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 4.24
Total Assets 152.58
Total Liabilities 152.58
Total Equity 132.99
Share Outstanding 2
Price to Book Ratio 4.56
Return on Assets (%) 19.38
Return on Capital (%) 21.51
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 0.17
Total Assets 122.82
Total Liabilities 122.82
Total Equity 103.30
Share Outstanding 2
Price to Book Ratio 10.72
Return on Assets (%) 24.68
Return on Capital (%) 27.99
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 1.08
Total Assets 119.40
Total Liabilities 119.40
Total Equity 73.07
Share Outstanding 2
Price to Book Ratio 8.73
Return on Assets (%) 14.55
Return on Capital (%) 23.68
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 34.98
Total Assets 111.99
Total Liabilities 111.99
Total Equity 57.52
Share Outstanding 1
Price to Book Ratio 8.11
Return on Assets (%) 10.16
Return on Capital (%) 18.94
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 32.46
Total Assets 91.71
Total Liabilities 91.71
Total Equity 47.23
Share Outstanding 1
Price to Book Ratio 2.14
Return on Assets (%) 9.61
Return on Capital (%) 18.45
Particulars MAR 2025 (Values in Cr)
Net Income 55.32
Cash from Operations 42.63
Cash from Investing -18.71
Cash from Financing -9.81
Net change in Cash 6.36
Free Cash Flow 51.73
Particulars MAR 2024 (Values in Cr)
Net Income 53.01
Cash from Operations 9.56
Cash from Investing -14.93
Cash from Financing 16.04
Net change in Cash 1.26
Free Cash Flow 17.52
Particulars MAR 2023 (Values in Cr)
Net Income 32.75
Cash from Operations 11.67
Cash from Investing -47.29
Cash from Financing -5.01
Net change in Cash -47.88
Free Cash Flow 16.04
Particulars MAR 2022 (Values in Cr)
Net Income 26.33
Cash from Operations 2.59
Cash from Investing -13.79
Cash from Financing 22.80
Net change in Cash 5.26
Free Cash Flow 39.02
Particulars MAR 2021 (Values in Cr)
Net Income 18.85
Cash from Operations 19.63
Cash from Investing -8.34
Cash from Financing 0.85
Net change in Cash 7.64
Free Cash Flow 37.22
Particulars MAR 2025 (Values in Cr)
Net Income 39.73
Cash from Operations 17.79
Cash from Investing -5.97
Cash from Financing -1.70
Net change in Cash 4.06
Free Cash Flow 19.57
Particulars MAR 2024 (Values in Cr)
Net Income 40.28
Cash from Operations 0.82
Cash from Investing 2.01
Cash from Financing 3.54
Net change in Cash -0.90
Free Cash Flow 1.51
Particulars MAR 2023 (Values in Cr)
Net Income 23.34
Cash from Operations 10.41
Cash from Investing -35.18
Cash from Financing -4.22
Net change in Cash -33.89
Free Cash Flow 11.97
Particulars MAR 2022 (Values in Cr)
Net Income 15.27
Cash from Operations 4.40
Cash from Investing -0.52
Cash from Financing 2.48
Net change in Cash 2.51
Free Cash Flow 12.82
Particulars MAR 2021 (Values in Cr)
Net Income 11.81
Cash from Operations 13.08
Cash from Investing -5.67
Cash from Financing -0.21
Net change in Cash 4.39
Free Cash Flow 28.42
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
ZENSAR TECHNOLOGIES LTD 521.45 14.95 2.51 11859.36 511.00 894.75
WIPRO LTD 200.70 15.95 2.39 210512.12 186.50 273.15
INFORMED TECHNOLOGIES INDIA LT 82.20 23.35 1.56 34.28 58.50 108.00
PCS TECHNOLOGY LTD. 22.95 28.33 1.03 48.08 16.70 30.98
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
ZENSAR TECHNOLOGIES LTD 521.45 16.83 3.36 11859.36 511.00 894.75
MIPCO SEAMLESS RINGS (GUJARAT) 24.27 0.00 -2.61 8.70 22.00 32.11
WIPRO LTD 200.70 17.36 3.30 210512.12 186.50 273.15
INFORMED TECHNOLOGIES INDIA LT 82.20 30.56 1.64 34.28 58.50 108.00

INNOVANA THINKLABS LTD shareholding pattern

Holding
25.07%
72.65%
1.18%
1.09%
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INNOVANA THINKLABS LTD Technicals Summary

  • EMA & SMA
  • Resistance and Support
  • Delivery and Volume
  • Beta
  • Price Change Analysis
410.75 9.30 redarrow
red-green-graph indicator
2 Bearish
14 Bullish
  • 5 Days 380.70
  • 26 Days 379.10
  • 10 Days 382.00
  • 50 Days 382.20
  • 12 Days 381.60
  • 100 Days 397.10
  • 20 Days 379.70
  • 200 Days 419.70
375.60 PIVOT
First Support 365.20 First Resistance 386.20 Second Support 354.60 Second Resistance 396.60 Third Support 344.20 Third Resistance 407.20
RSI 48.40 ADX 9.12 MACD 2.46 Williams % R -76.88 Commodity Channel Index (CCI) -3.59
Date 2026-04-29 Week 3144.00 Same Day 2546.00 Month 7019.00
1 Year 0.94 3 Year 0.76
Over 1 Month
16.68% down
Over 1 Year
15.20% down
Over 3 Months
5.78% down
Over 3 Years
6.28% down
Over 6 Months
-22.59% down
Over 5 Years
30.78% down

INNOVANA THINKLABS LTD Corporate Actions

Dividend date Dividend amount Dividend type Record date Instrument type
25 Sep 2023 0.25 Final 25 Sep 2023 Equity shares
20 Sep 2022 1.5 Final 23 Sep 2022 Equity shares
16 Sep 2021 1.25 Final 17 Sep 2021 Equity shares
Ex-Date Ex-Bonus Ratio
30 Mar 2023 29 Mar 2023 1:1
18 Dec 2019 17 Dec 2019 3:2
Dividend date Dividend amount Dividend type Record date Instrument type
25 Sep 2023 0.25 Final 25 Sep 2023 Equity shares
20 Sep 2022 1.5 Final 23 Sep 2022 Equity shares
16 Sep 2021 1.25 Final 17 Sep 2021 Equity shares
Ex-Date Ex-Bonus Ratio
30 Mar 2023 29 Mar 2023 1:1
18 Dec 2019 17 Dec 2019 3:2

Top Gainers

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INNOVANA THINKLABS LTD Share Price

Innovana Thinklabs Limited was originally incorporated as a Private Limited Company with the name 'PCVARK Software Private Limited' on April 13, 2015. Further, The Company was converted into a Public Limited Company and name of the Company was changed to 'PCVARK Software Limited' on June 27, 2017. Subsequently, the name of the Company was further changed from 'PCVARK Software Limited' to 'Innovana Thinklabs Limited' on August 30, 2017.

The Company is engaged in software and application development business which directly provide services to retail user. It basically design, develop and maintain software systems and solutions, create new applications and enhance the functionality of the existing products.

Their products and services includes designs, develops, tests, provides quality assurance, deploys, supports and maintains software systems and applications for customers. It includes Software and application for Windows such as Ad-Blocker, Advanced Password Manager, Driver Update etc., Software and application for Mac such as Mac Space Reviver, Mac File Opener, Disk Cleanup Pro, Duplicates Cleaner etc., Software and application for IOS such as FreeupSpace, Compress Photos, Resize Photos, Duplicate Photos Cleaner etc. and Software and application for Android such as FreeUpspace, Duplicate Photos Cleaner, Resize Photos, Free Cleaner for Android etc. Additionally, it also develops application and software such as Advance Password Manager, Advance Identity Protector, Malware Protection, Disk Speedup, Systems Boost, Web Protection etc.

The Company came up with a Public Issue in December, 2017, by issuing 11,00,000 Equity Shares and by raising funds of Rs 7.7 Crores.

In FY 2025, Company launched Astro Mall, a business platform for astrologically energized and spiritual products. It entered the EdTech sector with the launch of Anytime Astro Academy.

Parent organization Indian Private
NSE symbol INNOVANA
Founded 2015
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Board Of Directors

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Chandan Garg CMD & Executive Director
Kapil Garg E D & Wholetime Director
Swaran Kanta Non-Exec & Non-Independent Dir
Riya Sharma Independent Non Exe. Director
Hemanth Koushik Independent Non Exe. Director
Amritanshu Balani Independent Non Exe. Director
Vasu Ajay Anand Company Sec. & Compli. Officer
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Frequently Asked Questions

What is the Current Share Price of Innovana Thinklabs Ltd?

Answer Field

Innovana Thinklabs Ltd share price is for NSE ₹ 405.35 & for BSE ₹ 406.00 as on Apr 30 2026 03:30 PM.

What is the Market Cap of Innovana Thinklabs Ltd Share?

Answer Field

The market cap of Innovana Thinklabs Ltd for NSE ₹ 0.00 & for BSE ₹ 0.00 as on Apr 30 2026 03:30 PM.

What is the 52 Week High and Low of Innovana Thinklabs Ltd?

Answer Field

The 52 Week High and Low of Innovana Thinklabs Ltd for NSE is ₹ 649.50 and ₹ 315.00 and for BSE is ₹ 648.00 and ₹ 315.25.

What is 1 year return for Innovana Thinklabs Ltd?

Answer Field

The 1 year returns on the stock has been 15.20%.

What is the P/E Ratio of Innovana Thinklabs Ltd Share?

Answer Field

As on Apr 30 2026 03:30 PM the price-to-earnings (PE) ratio for Innovana Thinklabs Ltd share is 24.69.

What is the PB ratio of Innovana Thinklabs Ltd Share?

Answer Field

As on Apr 30 2026 03:30 PM, the price-to-book (PB) ratio for Innovana Thinklabs Ltd share is 82.96.

How to Buy Innovana Thinklabs Ltd Share?

Answer Field

You can trade in Innovana Thinklabs Ltd shares with Bajaj Broking by opening a demat account.

How to Buy Innovana Thinklabs Ltd Share on Bajaj Broking App?

Answer Field

To buy Innovana Thinklabs Ltd shares on the Bajaj Broking app, follow these steps:

• Login to the Bajaj Broking App

• Click on the Search Icon

• Search “Innovana Thinklabs 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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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

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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.