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PSPPROJECT

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PSP PROJECTS LIMITED Share Price Update

As of the latest trading session, PSP PROJECTS LIMITED is trading at ₹786.7, up by ₹17.95 or 2.33% from its previous close. The stock has moved between ₹751.80 and ₹790.35 today. Over the past year, the stock has delivered a return of 20.44%. In the last month, it has returned 10.51%.

PSP PROJECTS LIMITED performance

Today’s low Today’s high
₹ 751.80 ₹ 790.35
₹ 786.70
52 week low 52 week high
₹ 569.20 ₹ 1029.90
₹ 786.70
Open Price ₹ 771.00
Prev. Close ₹ 768.75
Volume (Shares) 76705.00
Total traded value ₹ 603.43
Upper Circuit ₹ 922.50
Lower Circuit ₹ 615.00
info

Investment Returns

Over 1 Month 10.51% Over 3 Months -2.18% Over 6 Months -22.34% Over 1 Year 20.44%
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PSP PROJECTS LIMITED fundamentals


  • Market cap (Cr) 3,118.60
  • P/E Ratio (TTM) 58.40
  • Beta 1.45
  • Book Value / share 317.97
  • Return on equity 5.32%
  • EPS (TTM) 13.19
  • Dividend yield 0.00%
  • Net profit/quarter (Cr) 21.15
info icon alternate text
  • Market cap (Cr) 3,122.20
  • P/E Ratio (TTM) 58.40
  • Beta 1.34
  • Book Value / share 317.97
  • Return on equity 5.32%
  • EPS (TTM) 13.19
  • Dividend yield 0.00%
  • Net profit/quarter (Cr) 21.15
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PSP PROJECTS 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 1011.78
Operating Expense 994.33
Net Profit 21.15
Net Profit Margin (%) 2.09
Earnings Per Share (EPS) 5.34
EBITDA 64.07
Effective Tax Rate (%) 20.15
Particulars DEC 2025 (Values in Cr)
Revenue 771.22
Operating Expense 753.83
Net Profit 16.06
Net Profit Margin (%) 2.08
Earnings Per Share (EPS) 4.05
EBITDA 55.91
Effective Tax Rate (%) 24.98
Particulars SEP 2025 (Values in Cr)
Revenue 693.69
Operating Expense 677.24
Net Profit 14.89
Net Profit Margin (%) 2.14
Earnings Per Share (EPS) 3.76
EBITDA 52.20
Effective Tax Rate (%) 27.62
Particulars JUN 2025 (Values in Cr)
Revenue 512.76
Operating Expense 516.34
Net Profit 0.19
Net Profit Margin (%) 0.03
Earnings Per Share (EPS) 0.05
EBITDA 28.45
Effective Tax Rate (%) 53.65
Particulars MAR 2025 (Values in Cr)
Revenue 655.09
Operating Expense 654.13
Net Profit 4.95
Net Profit Margin (%) 0.75
Earnings Per Share (EPS) 1.26
EBITDA 35.54
Effective Tax Rate (%) 18.31
Particulars MAR 2026 (Values in Cr)
Revenue 2989.45
Operating Expense 2941.72
Net Profit 52.29
Net Profit Margin (%) 1.74
Earnings Per Share (EPS) 13.19
EBITDA 200.65
Effective Tax Rate (%) 24.07
Particulars MAR 2025 (Values in Cr)
Revenue 2468.28
Operating Expense 2407.06
Net Profit 56.46
Net Profit Margin (%) 2.28
Earnings Per Share (EPS) 14.33
EBITDA 195.29
Effective Tax Rate (%) 28.01
Particulars MAR 2024 (Values in Cr)
Revenue 2462.50
Operating Expense 2316.55
Net Profit 123.90
Net Profit Margin (%) 5.03
Earnings Per Share (EPS) 34.42
EBITDA 285.90
Effective Tax Rate (%) 27.20
Particulars MAR 2023 (Values in Cr)
Revenue 1926.65
Operating Expense 1773.60
Net Profit 133.02
Net Profit Margin (%) 6.90
Earnings Per Share (EPS) 36.95
EBITDA 252.10
Effective Tax Rate (%) 26.15
Particulars MAR 2022 (Values in Cr)
Revenue 1748.76
Operating Expense 1550.70
Net Profit 162.40
Net Profit Margin (%) 9.28
Earnings Per Share (EPS) 45.11
EBITDA 277.76
Effective Tax Rate (%) 25.94
Particulars MAR 2025 (Values in Cr)
Book Value / Share 304.97
ROE % 5.46
ROCE % 8.69
Total Debt to Total Equity 0.34
EBITDA Margin 7.83
Particulars MAR 2024 (Values in Cr)
Book Value / Share 254.13
ROE % 14.39
ROCE % 18.98
Total Debt to Total Equity 0.35
EBITDA Margin 11.38
Particulars MAR 2023 (Values in Cr)
Book Value / Share 222.50
ROE % 18.10
ROCE % 24.77
Total Debt to Total Equity 0.16
EBITDA Margin 13.16
Particulars MAR 2022 (Values in Cr)
Book Value / Share 190.82
ROE % 27.19
ROCE % 35.22
Total Debt to Total Equity 0.15
EBITDA Margin 16.03
Particulars MAR 2021 (Values in Cr)
Book Value / Share 148.86
ROE % 16.84
ROCE % 21.81
Total Debt to Total Equity 0.17
EBITDA Margin 12.22
Particulars MAR 2025 (Values in Cr)
Book Value / Share 304.91
ROE % 5.32
ROCE % 8.59
Total Debt to Total Equity 0.34
EBITDA Margin 7.91
Particulars MAR 2024 (Values in Cr)
Book Value / Share 254.06
ROE % 14.45
ROCE % 19.06
Total Debt to Total Equity 0.35
EBITDA Margin 11.61
Particulars MAR 2023 (Values in Cr)
Book Value / Share 222.17
ROE % 17.92
ROCE % 24.48
Total Debt to Total Equity 0.16
EBITDA Margin 13.09
Particulars MAR 2022 (Values in Cr)
Book Value / Share 190.20
ROE % 26.56
ROCE % 34.96
Total Debt to Total Equity 0.15
EBITDA Margin 15.88
Particulars MAR 2021 (Values in Cr)
Book Value / Share 149.44
ROE % 16.24
ROCE % 21.41
Total Debt to Total Equity 0.16
EBITDA Margin 12.01
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 207.84
Total Assets 2353.06
Total Liabilities 2353.06
Total Equity 1208.94
Share Outstanding 3
Price to Book Ratio 2.07
Return on Assets (%) 2.39
Return on Capital (%) 3.81
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 227.09
Total Assets 2036.74
Total Liabilities 2036.74
Total Equity 914.86
Share Outstanding 3
Price to Book Ratio 2.70
Return on Assets (%) 6.03
Return on Capital (%) 8.98
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 242.35
Total Assets 1765.39
Total Liabilities 1765.39
Total Equity 800.99
Share Outstanding 3
Price to Book Ratio 3.02
Return on Assets (%) 7.47
Return on Capital (%) 13.95
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 196.34
Total Assets 1270.36
Total Liabilities 1270.36
Total Equity 686.95
Share Outstanding 3
Price to Book Ratio 2.84
Return on Assets (%) 13.11
Return on Capital (%) 21.19
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 229.02
Total Assets 991.32
Total Liabilities 991.32
Total Equity 535.89
Share Outstanding 3
Price to Book Ratio 3.10
Return on Assets (%) 8.22
Return on Capital (%) 13.15
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 207.78
Total Assets 2336.57
Total Liabilities 2336.57
Total Equity 1208.73
Share Outstanding 3
Price to Book Ratio 2.07
Return on Assets (%) 2.41
Return on Capital (%) 3.81
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 225.13
Total Assets 2022.44
Total Liabilities 2022.44
Total Equity 914.62
Share Outstanding 3
Price to Book Ratio 2.70
Return on Assets (%) 6.12
Return on Capital (%) 9.05
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 242.09
Total Assets 1756.21
Total Liabilities 1756.21
Total Equity 799.82
Share Outstanding 3
Price to Book Ratio 3.02
Return on Assets (%) 7.57
Return on Capital (%) 14.08
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 195.18
Total Assets 1266.60
Total Liabilities 1266.60
Total Equity 684.71
Share Outstanding 3
Price to Book Ratio 2.84
Return on Assets (%) 12.82
Return on Capital (%) 20.7
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 228.75
Total Assets 990.38
Total Liabilities 990.38
Total Equity 537.99
Share Outstanding 3
Price to Book Ratio 3.10
Return on Assets (%) 8.15
Return on Capital (%) 13.05
Particulars MAR 2025 (Values in Cr)
Net Income 78.33
Cash from Operations 105.76
Cash from Investing -105.69
Cash from Financing 19.60
Net change in Cash -33.37
Free Cash Flow 173.73
Particulars MAR 2024 (Values in Cr)
Net Income 168.97
Cash from Operations -177.11
Cash from Investing -26.24
Cash from Financing 269.22
Net change in Cash 18.99
Free Cash Flow -35.16
Particulars MAR 2023 (Values in Cr)
Net Income 180.39
Cash from Operations 102.02
Cash from Investing -50.71
Cash from Financing 11.54
Net change in Cash 6.10
Free Cash Flow 181.77
Particulars MAR 2022 (Values in Cr)
Net Income 221.99
Cash from Operations 210.85
Cash from Investing -164.14
Cash from Financing -10.73
Net change in Cash -27.60
Free Cash Flow 287.45
Particulars MAR 2021 (Values in Cr)
Net Income 108.52
Cash from Operations 96.79
Cash from Investing 5.19
Cash from Financing -4.38
Net change in Cash 74.28
Free Cash Flow 176.06
Particulars MAR 2025 (Values in Cr)
Net Income 78.42
Cash from Operations 107.58
Cash from Investing -105.59
Cash from Financing 19.60
Net change in Cash -31.47
Free Cash Flow 175.34
Particulars MAR 2024 (Values in Cr)
Net Income 170.21
Cash from Operations -179.86
Cash from Investing -25.20
Cash from Financing 269.22
Net change in Cash 17.29
Free Cash Flow -37.91
Particulars MAR 2023 (Values in Cr)
Net Income 180.14
Cash from Operations 99.83
Cash from Investing -48.37
Cash from Financing 11.54
Net change in Cash 6.25
Free Cash Flow 179.58
Particulars MAR 2022 (Values in Cr)
Net Income 219.31
Cash from Operations 184.07
Cash from Investing -140.50
Cash from Financing -7.73
Net change in Cash -27.74
Free Cash Flow 260.67
Particulars MAR 2021 (Values in Cr)
Net Income 108.66
Cash from Operations 95.10
Cash from Investing 5.39
Cash from Financing -2.10
Net change in Cash 74.12
Free Cash Flow 174.37
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
AVISHKAR INFRA REALTY LIMITED 608.35 0.00 95.41 1362.90 66.91 713.95
VIRYA RESOURCES LIMITED 385.00 0.00 10.93 57.75 349.70 681.00
NEO INFRACON LTD. 42.50 16.22 3.44 22.57 24.78 54.99
YOGI SUNG-WON (INDIA) LTD. 6.97 0.00 0.37 11.74 4.25 17.69
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
STEWARTS & LLOYDS OF INDIA LTD 11.37 0.00 -0.05 3.41 0.00 0.00
SHRICON INDUSTRIES LTD. 264.10 18.23 7.11 32.75 122.55 278.00
SILVER OAK COMMERCIAL LTD. 6.47 0.00 -0.44 1.78 3.59 10.15
AVISHKAR INFRA REALTY LIMITED 608.35 392.48 91.76 1362.90 66.91 713.95

PSP PROJECTS LIMITED shareholding pattern

Holding
27.08%
68.81%
1.91%
2.18%
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News

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PSP PROJECTS LIMITED Technicals Summary

  • EMA & SMA
  • Resistance and Support
  • Delivery and Volume
  • Beta
  • Price Change Analysis
786.70 2.33 redarrow
red-green-graph indicator
6 Bearish
10 Bullish
  • 5 Days 794.50
  • 26 Days 759.20
  • 10 Days 793.00
  • 50 Days 744.00
  • 12 Days 788.80
  • 100 Days 753.20
  • 20 Days 769.90
  • 200 Days 757.20
773.80 PIVOT
First Support 760.05 First Resistance 782.50 Second Support 751.35 Second Resistance 796.25 Third Support 737.60 Third Resistance 804.95
RSI 52.64 ADX 68.88 MACD 29.65 Williams % R -65.93 Commodity Channel Index (CCI) 6.38
Date 2026-05-13 Week 40967.00 Same Day 22661.00 Month 45722.00
1 Year 1.45 3 Year 0.99
Over 1 Month
10.51% down
Over 1 Year
20.44% down
Over 3 Months
-2.18% down
Over 3 Years
0.93% down
Over 6 Months
-22.34% down
Over 5 Years
13.96% down

PSP PROJECTS LIMITED Corporate Actions

Dividend date Dividend amount Dividend type Record date Instrument type
01 Sep 2023 2.5 Final 02 Sep 2023 Equity shares
19 Sep 2022 5.0 Final 20 Sep 2022 Equity shares
08 Sep 2021 4.0 Final 11 Sep 2021 Equity shares
19 Mar 2020 5.0 Interim 21 Mar 2020 Equity shares
06 Sep 2019 5.0 Final 11 Sep 2019 Equity shares
18 Sep 2018 5.0 Final 20 Sep 2018 Equity shares
14 Sep 2017 2.5 Final 18 Sep 2017 Equity shares
Dividend date Dividend amount Dividend type Record date Instrument type
01 Sep 2023 2.5 Final 02 Sep 2023 Equity shares
19 Sep 2022 5.0 Final 20 Sep 2022 Equity shares
08 Sep 2021 4.0 Final 11 Sep 2021 Equity shares
19 Mar 2020 5.0 Interim 21 Mar 2020 Equity shares
06 Sep 2019 5.0 Final 11 Sep 2019 Equity shares
18 Sep 2018 5.0 Final 20 Sep 2018 Equity shares
14 Sep 2017 2.5 Final 18 Sep 2017 Equity shares

Top Gainers

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PSP PROJECTS LIMITED Share Price

PSP Projects Limited was incorporated as a Private Limited Company on August 26, 2008 as PSP Projects Private Limited'. The Company converted into a Public Limited Company and name of the Company was changed to PSP Projects Limited on July 10, 2015 issued by the Registrar of Companies.

PSP Projects Limited is a multidisciplinary construction company offering a diversified range of construction and allied services across industrial, institutional, government, government residential and residential projects in India. It provides services across the construction value chain, ranging from planning and design to construction and post construction activities to private and public sector enterprises.

In 2009, PSP Projects acquired the business of BPC Projects. In 2015, the company entered into a partnership deed with Gannon Dunkerley & Co. Ltd.

In 2016, the company incorporated PSP Projects Inc. in which the company has 100% stake and the company has also acquired 74% stake in PSP Projects & Proactive Constructions Pvt Ltd.

In May 2017, the Company came up with a Public Issue of 10,080,000 Equity Shares by raising equity funds from public aggregating to Rs 21.1.68 Crores consisting a Fresh Issue of 7,200,000 Equity Shares aggregating Rs 151.2 Crore and an Offer for Sale of 1,584,000 Equity Shares aggregating Rs 60.48 Crore.

On 8 January 2018, PSP Projects informed the stock exchanges that it has received work orders worth Rs 1776.41 crore during the period from 1 October 2017 to 31 December 2017 from various clients for industrial, institutional, government and residential projects.

On 5 April 2018, PSP Projects informed the stock exchanges that it has received work orders worth Rs 87.33 crore during the quarter ended 31 March 2018 from various clients for industrial, institutional and government projects.

On 5 September 2018, PSP Projects informed the stock exchanges that it has received work orders worth Rs 226.07 crore (on standalone basis) from various clients for industrial and institutional projects.

On 25 September 2018, PSP Projects informed the stock exchanges that credit rating agency CARE Rating Limited has upgraded the company's credit rating for bank facilities on the basis of recent developments including operational and financial performance of the company.

On 19 November 2018, PSP Projects announced that it has bagged new Institutional and Industrial projects worth Rs 372.47 crore from various clients including two projects of Rs 208.49 crore in which the company has been ranked the L1 bidder (lowest bidder) by regulatory authority.

In 2019-20, the Company completed Commercial Building at GIFT City, Gandhinagar; Zydus Corporate House at Ahmedabad; Punishka Healthcare Plant at Ahmedabad, Bangalore Milk Union Dairy Plant at Kanakpura, Karnataka, Medical College and Hospital for Dharamsinh Desai University (DDU) at Nadiad, Gujarat and Grand Mercury Hotel for Brigade Group at Gift City, Gandhinagar. It commenced work on first project in UP (Shri Kashi Vishwanath Dham at Varanasi).

In 2020-21, the Company completed Zydus Hospital at Sitapur, Gujarat, Construction of Medical College and Hospital at Dahod, Gujarat, Construction of R & D and Research centre at Vadodara Gujarat and C.G road Beautification Project of CG Roadat Ahmedabad, Gujarat and Interiors of Leela Hotel, Gandhinagar.

Major projects such as Nestle Factory at Sanand, Construction of Student Activity Centre at Ahmedabad University completed during the year 2021-22. The Company completed the building construction work of Preacst Manufacturing Plant at Sanand, Gujarat and the same was commissioned in December, 2021.

The Major projects completed during the year 2023 included Surat Diamond Bourse Project at Surat, Development and Beautification of Shri Kashi Vishwnath Temple at Varanasi, Uttar Pradesh; Reliance Rehab and Rescue Centre Project at Jamnagar, Construction of Palladium Mall at Ahmedabad, BSE Brokers Forum Building at GIFT city, Gandhinagar, Gujarat.

During year 2024, Company completed Money Plant high street, Ahmedabad; Adani Amoga Residential Project, Ahmedabad; Reliance Corporate House, Ahmedabad; Construction of Adani International school, Ahmedabad; Construction of Precast Factory Shed & Precast Corporate House, Gandhinagar; Surat Smart City Development Command Center; Precast warehouses at 4 different locations in Gujarat.

Company completed the major projects in 2024-25: Atal Medical University at Lucknow, Medical College & Hospital at Auraiya, U.P., Medical College & Hospital at Lalitpur, U.P., Medical College & Hospital at Sultanpur, U.P., Medical College & Hospital at Kanpur Dehat, U.P., Medical College & Hospital at Sonbhadra, U.P., Medical College & Hospital at Kushinagar, U.P. and NMIMS (Narsee Monjee Institute of Management studies) Institute at Sanand, Gujarat.

Parent organization Indian Private
NSE symbol PSPPROJECT
Founded 2008
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Board Of Directors

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Prahlad S Patel CMD & Executive Director
Sagar Prahladbhai Patel Executive Director
Achala Monal Patel Independent Non Exe. Director
Swati Haresh Mehta Independent Non Exe. Director
Pooja Dhruve Company Sec. & Compli. Officer
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Frequently Asked Questions

What is the Current Share Price of PSP Projects Ltd?

Answer Field

PSP Projects Ltd share price is for NSE ₹ 786.70 & for BSE ₹ 795.00 as on May 14 2026 03:30 PM.

What is the Market Cap of PSP Projects Ltd Share?

Answer Field

The market cap of PSP Projects Ltd for NSE ₹ 0.00 & for BSE ₹ 0.00 as on May 14 2026 03:30 PM.

What is the 52 Week High and Low of PSP Projects Ltd?

Answer Field

The 52 Week High and Low of PSP Projects Ltd for NSE is ₹ 1,029.90 and ₹ 569.20 and for BSE is ₹ 1,030.80 and ₹ 569.30.

What is 1 year return for PSP Projects Ltd?

Answer Field

The 1 year returns on the stock has been 20.44%.

What is the P/E Ratio of PSP Projects Ltd Share?

Answer Field

As on May 14 2026 03:30 PM the price-to-earnings (PE) ratio for PSP Projects Ltd share is 58.40.

What is the PB ratio of PSP Projects Ltd Share?

Answer Field

As on May 14 2026 03:30 PM, the price-to-book (PB) ratio for PSP Projects Ltd share is 317.97.

How to Buy PSP Projects Ltd Share?

Answer Field

You can trade in PSP Projects Ltd shares with Bajaj Broking by opening a demat account.

How to Buy PSP Projects Ltd Share on Bajaj Broking App?

Answer Field

To buy PSP Projects Ltd shares on the Bajaj Broking app, follow these steps:

• Login to the Bajaj Broking App

• Click on the Search Icon

• Search “PSP Projects 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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  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) | MCX Member ID: 57680 | 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) | MCX Member ID: 57680 | 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.