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SWASTIKA

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SWASTIKA INVESTMART LTD. Share Price Update

As of the latest trading session, SWASTIKA INVESTMART LTD. is trading at ₹70.34, down by ₹-0.25 or -0.35% from its previous close. The stock has moved between ₹68.11 and ₹72.79 today. Over the past year, the stock has delivered a return of -45.46%. In the last month, it has returned 22.82%.

Investment Returns

Over 1 Month 22.82% Over 3 Months 33.33% Over 6 Months -27.12% Over 1 Year -45.46%
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SWASTIKA INVESTMART LTD. fundamentals


  • Market cap (Cr) [-]
  • P/E Ratio (TTM) [-]
  • Beta [-]
  • Book Value / share [-]
  • Return on equity [-]%
  • EPS (TTM) [-]
  • Dividend yield [-]%
  • Net profit/quarter (Cr) [-]
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  • Market cap (Cr) 141.10
  • P/E Ratio (TTM) 9.76
  • Beta 0.91
  • Book Value / share 64.72
  • Return on equity 25.23%
  • EPS (TTM) 7.23
  • Dividend yield [-]%
  • Net profit/quarter (Cr) 3.49
info icon alternate text

SWASTIKA INVESTMART LTD. Financials

  • Key Results
  • Key Ratios
  • Balance sheet
  • Cash Flow
  • Competition
info-icon
Revenue
Net income
Particulars MAR 2026 (Values in Cr)
Revenue 27.20
Operating Expense 25.36
Net Profit 3.49
Net Profit Margin (%) 12.83
Earnings Per Share (EPS) 1.73
EBITDA 7.50
Effective Tax Rate (%) 24.62
Particulars DEC 2025 (Values in Cr)
Revenue 27.95
Operating Expense 24.88
Net Profit 4.06
Net Profit Margin (%) 14.52
Earnings Per Share (EPS) 2.02
EBITDA 8.08
Effective Tax Rate (%) 25.59
Particulars SEP 2025 (Values in Cr)
Revenue 27.82
Operating Expense 24.22
Net Profit 3.57
Net Profit Margin (%) 12.83
Earnings Per Share (EPS) 1.77
EBITDA 6.43
Effective Tax Rate (%) 27.93
Particulars JUN 2025 (Values in Cr)
Revenue 25.76
Operating Expense 22.71
Net Profit 3.42
Net Profit Margin (%) 13.27
Earnings Per Share (EPS) 1.89
EBITDA 6.39
Effective Tax Rate (%) 28.60
Particulars MAR 2025 (Values in Cr)
Revenue 26.28
Operating Expense 24.59
Net Profit 2.70
Net Profit Margin (%) 10.27
Earnings Per Share (EPS) 1.81
EBITDA 4.69
Effective Tax Rate (%) 12.05
Particulars MAR 2026 (Values in Cr)
Revenue 108.72
Operating Expense 97.14
Net Profit 14.53
Net Profit Margin (%) 13.36
Earnings Per Share (EPS) 7.42
EBITDA 28.40
Effective Tax Rate (%) 26.67
Particulars MAR 2025 (Values in Cr)
Revenue 135.22
Operating Expense 112.45
Net Profit 22.13
Net Profit Margin (%) 16.36
Earnings Per Share (EPS) 14.81
EBITDA 37.08
Effective Tax Rate (%) 24.80
Particulars MAR 2024 (Values in Cr)
Revenue 110.92
Operating Expense 99.69
Net Profit 12.11
Net Profit Margin (%) 10.91
Earnings Per Share (EPS) 40.93
EBITDA 22.09
Effective Tax Rate (%) 25.87
Particulars MAR 2023 (Values in Cr)
Revenue 85.46
Operating Expense 79.22
Net Profit 5.94
Net Profit Margin (%) 6.95
Earnings Per Share (EPS) 20.06
EBITDA 10.58
Effective Tax Rate (%) 25.65
Particulars MAR 2022 (Values in Cr)
Revenue 76.78
Operating Expense 67.18
Net Profit 8.56
Net Profit Margin (%) 11.14
Earnings Per Share (EPS) 28.92
EBITDA 14.03
Effective Tax Rate (%) 25.62
Particulars MAR 2025 (Values in Cr)
Book Value / Share 61.91
ROE % 20.74
ROCE % 32.59
Total Debt to Total Equity 0.10
EBITDA Margin 25.29
Particulars MAR 2024 (Values in Cr)
Book Value / Share 239.36
ROE % 18.00
ROCE % 27.13
Total Debt to Total Equity 0.21
EBITDA Margin 20.66
Particulars MAR 2023 (Values in Cr)
Book Value / Share 190.96
ROE % 11.41
ROCE % 15.91
Total Debt to Total Equity 0.27
EBITDA Margin 13.59
Particulars MAR 2022 (Values in Cr)
Book Value / Share 170.63
ROE % 22.40
ROCE % 24.82
Total Debt to Total Equity 0.44
EBITDA Margin 20.52
Particulars MAR 2021 (Values in Cr)
Book Value / Share 130.90
ROE % 34.18
ROCE % 26.07
Total Debt to Total Equity 1.01
EBITDA Margin 23.76
Particulars MAR 2025 (Values in Cr)
Book Value / Share 57.86
ROE % 25.23
ROCE % 38.77
Total Debt to Total Equity 0.06
EBITDA Margin 27.40
Particulars MAR 2024 (Values in Cr)
Book Value / Share 208.21
ROE % 20.50
ROCE % 30.86
Total Debt to Total Equity 0.15
EBITDA Margin 19.82
Particulars MAR 2023 (Values in Cr)
Book Value / Share 160.38
ROE % 13.23
ROCE % 18.10
Total Debt to Total Equity 0.17
EBITDA Margin 12.35
Particulars MAR 2022 (Values in Cr)
Book Value / Share 140.75
ROE % 23.25
ROCE % 27.60
Total Debt to Total Equity 0.28
EBITDA Margin 18.19
Particulars MAR 2021 (Values in Cr)
Book Value / Share 106.09
ROE % 38.86
ROCE % 37.41
Total Debt to Total Equity 0.52
EBITDA Margin 22.03
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 235.49
Total Assets 351.62
Total Liabilities 351.62
Total Equity 112.19
Share Outstanding 1
Price to Book Ratio 1.90
Return on Assets (%) 5.65
Return on Capital (%) 16.91
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 231.06
Total Assets 352.98
Total Liabilities 352.98
Total Equity 79.60
Share Outstanding 0
Price to Book Ratio 2.95
Return on Assets (%) 3.48
Return on Capital (%) 13.14
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 128.75
Total Assets 213.58
Total Liabilities 213.58
Total Equity 56.95
Share Outstanding 0
Price to Book Ratio 1.06
Return on Assets (%) 2.87
Return on Capital (%) 8.49
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 133.79
Total Assets 237.89
Total Liabilities 237.89
Total Equity 50.89
Share Outstanding 0
Price to Book Ratio 1.38
Return on Assets (%) 4.23
Return on Capital (%) 15.49
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 109.36
Total Assets 208.23
Total Liabilities 208.23
Total Equity 39.04
Share Outstanding 0
Price to Book Ratio 1.25
Return on Assets (%) 5.40
Return on Capital (%) 17.49
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 234.30
Total Assets 338.63
Total Liabilities 338.63
Total Equity 105.14
Share Outstanding 1
Price to Book Ratio 1.90
Return on Assets (%) 6.53
Return on Capital (%) 21.05
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 229.98
Total Assets 333.26
Total Liabilities 333.26
Total Equity 70.30
Share Outstanding 0
Price to Book Ratio 2.95
Return on Assets (%) 3.63
Return on Capital (%) 15.09
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 127.62
Total Assets 189.91
Total Liabilities 189.91
Total Equity 47.83
Share Outstanding 0
Price to Book Ratio 1.06
Return on Assets (%) 3.12
Return on Capital (%) 10.75
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 132.85
Total Assets 210.46
Total Liabilities 210.46
Total Equity 41.97
Share Outstanding 0
Price to Book Ratio 1.38
Return on Assets (%) 4.06
Return on Capital (%) 17.18
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 108.47
Total Assets 183.50
Total Liabilities 183.50
Total Equity 31.64
Share Outstanding 0
Price to Book Ratio 1.25
Return on Assets (%) 5.49
Return on Capital (%) 22.54
Particulars MAR 2025 (Values in Cr)
Net Income 26.44
Cash from Operations -14.82
Cash from Investing 19.65
Cash from Financing -5.26
Net change in Cash -5.43
Free Cash Flow -13.75
Particulars MAR 2024 (Values in Cr)
Net Income 16.71
Cash from Operations -17.64
Cash from Investing 10.58
Cash from Financing 8.78
Net change in Cash -2.69
Free Cash Flow -16.23
Particulars MAR 2023 (Values in Cr)
Net Income 8.36
Cash from Operations -17.92
Cash from Investing 9.80
Cash from Financing -0.75
Net change in Cash -11.16
Free Cash Flow -16.62
Particulars MAR 2022 (Values in Cr)
Net Income 13.52
Cash from Operations 5.00
Cash from Investing 18.13
Cash from Financing -12.56
Net change in Cash 6.99
Free Cash Flow 6.06
Particulars MAR 2021 (Values in Cr)
Net Income 14.14
Cash from Operations 6.34
Cash from Investing 6.83
Cash from Financing -18.41
Net change in Cash -8.64
Free Cash Flow 7.41
Particulars MAR 2025 (Values in Cr)
Net Income 29.42
Cash from Operations -7.83
Cash from Investing 12.73
Cash from Financing -5.34
Net change in Cash -5.54
Free Cash Flow -6.90
Particulars MAR 2024 (Values in Cr)
Net Income 16.34
Cash from Operations -7.02
Cash from Investing 3.35
Cash from Financing 5.59
Net change in Cash -2.45
Free Cash Flow -5.67
Particulars MAR 2023 (Values in Cr)
Net Income 7.98
Cash from Operations -16.68
Cash from Investing 9.80
Cash from Financing -2.50
Net change in Cash -11.34
Free Cash Flow -15.38
Particulars MAR 2022 (Values in Cr)
Net Income 11.50
Cash from Operations -1.71
Cash from Investing 18.17
Cash from Financing -6.58
Net change in Cash 6.94
Free Cash Flow -0.69
Particulars MAR 2021 (Values in Cr)
Net Income 12.60
Cash from Operations -5.09
Cash from Investing 6.97
Cash from Financing -7.67
Net change in Cash -8.67
Free Cash Flow -4.15
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
B.N.RATHI SECURITIES LTD. 17.03 9.90 0.96 71.10 10.81 25.69
NDA SECURITIES LTD. 35.51 142.04 1.81 21.12 24.30 65.99
MONARCH NETWORTH CAP LTD 310.25 15.34 2.79 2459.30 238.75 398.60
ARIHANT CAPITAL MARKETS LTD. 74.96 21.24 1.83 821.66 57.90 120.35
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
MUNOTH CAPITAL MARKET LTD. 111.50 0.00 16.85 102.20 111.50 178.40
FIRST CUSTODIAN FUND (INDIA) L 74.50 0.00 0.72 11.18 65.00 139.70
B.N.RATHI SECURITIES LTD. 17.03 8.60 1.01 71.10 10.81 25.69
INDBANK MERCHANT BANKING SERVI 34.66 21.94 1.55 153.82 29.00 47.00

SWASTIKA INVESTMART LTD. shareholding pattern

Holding
40.1%
59.88%
0.01%
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SWASTIKA INVESTMART LTD. Technicals Summary

  • EMA & SMA
  • Resistance and Support
  • Delivery and Volume
  • Beta
  • Price Change Analysis
70.20 -0.55 redarrow
red-green-graph indicator
4 Bearish
12 Bullish
  • 5 Days 70.60
  • 26 Days 65.30
  • 10 Days 69.50
  • 50 Days 63.20
  • 12 Days 68.90
  • 100 Days 67.40
  • 20 Days 66.70
  • 200 Days 82.60
72.34 PIVOT
First Support 70.82 First Resistance 74.66 Second Support 68.50 Second Resistance 76.18 Third Support 66.98 Third Resistance 78.50
RSI 64.01 ADX 58.94 MACD 3.62 Williams % R -39.76 Commodity Channel Index (CCI) 99.43
Date 2026-05-08 Week 31983.00 Same Day 119467.00 Month 12620.00
1 Year 0.92 3 Year 0.77
Over 1 Month
22.82% down
Over 1 Year
-45.46% down
Over 3 Months
33.33% down
Over 3 Years
25.00% down
Over 6 Months
-27.12% down
Over 5 Years
17.34% down

SWASTIKA INVESTMART LTD. Corporate Actions

Dividend date Dividend amount Dividend type Record date Instrument type
20 Jun 2025 0.6 Final 20 Jun 2025 Equity shares
02 Jul 2024 2.0 Final 03 Jul 2024 Equity shares
05 Sep 2023 2.0 Final 06 Sep 2023 Equity shares
18 Jul 2022 2.0 Final 20 Jul 2022 Equity shares
22 Mar 2021 2.0 Interim 23 Mar 2021 Equity shares
19 Mar 2020 1.0 Interim 21 Mar 2020 Equity shares
21 Aug 2019 1.0 Final 23 Aug 2019 Equity shares
18 Sep 2018 1.0 Final 20 Sep 2018 Equity shares
08 Sep 2017 1.0 Final 12 Sep 2017 Equity shares
15 Sep 2016 1.0 Final 17 Sep 2016 Equity shares
14 Sep 2015 1.0 Final 16 Sep 2015 Equity shares
22 Sep 2014 1.0 Final 24 Sep 2014 Equity shares
12 Sep 2013 1.0 Final 16 Sep 2013 Equity shares
06 Sep 2012 1.0 Final 08 Sep 2012 Equity shares
05 Sep 2011 1.0 Final 07 Sep 2011 Equity shares
26 Aug 2010 1.0 Final 28 Aug 2010 Equity shares
17 Sep 2009 1.0 Final 19 Sep 2009 Equity shares
17 Sep 2008 1.0 Final 19 Sep 2008 Equity shares
20 Sep 2007 1.0 Final 22 Sep 2007 Equity shares
20 Sep 2005 0.0 Final 22 Sep 2005 Equity shares
Ex-Date Old FV NEW FV Record Date
25 Sep 2024 10.0 2.0 25 Sep 2024

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SWASTIKA INVESTMART LTD. Share Price

Swastika Investmart Limited provides complete financial services, including Stock, currency and Commodity Trading, Depository Services as a Depository Participant (DP) of both Central Depository Service (India) Limited (CDSL) and National Securities Depository Limited (NSDL) depositories, Portfolio Management and Investment Advisory, Technical and Fundamental Research based Advices, Internet and Mobile Trading, Initial Public Offering (IPO), Mutual fund and Insurance. The Company is also involved in the field of Hire Purchase and Lease Finance.

Swastika Investmart Limited was initially incorporated as Swastika Fin-Lease Limited in 1992. It was promoted by Mr. Sunil Nyati belonging to the Swastika group of Rajasthan, engaged in diversified business since 1959. The name of the Company was changed to Swastika Investmart Limited w.e.f. 22nd March, 2007.

In 1995 company came out with a Public issue of 15 Lac equity shares of Rs.10/- each for cash at par, aggregating Rs.150 Lacs. The shares of company are listed on BSE and is one of the few listed companies, engaged in Stock broking and Capital Markets activities.

Since incorporation till 1998, the company was actively involved in the field of Hire Purchase and Lease Finance. It started the stock broking business as a sub-broker in the year 1998 and after getting the experience and with the blessings of its satisfied customers, it took the Corporate Membership of NSE in 2000 and BSE in 2004. Later, it got registered with CDSL in 2006 as Depository Participant as well.

In the year 2007 the company acquired membership of two premier Commodity Exchanges of India, NCDEX and MCX through its wholly owned subsidiary company Swastika Commodity Pvt. Ltd. It has also got the corporate membership of Currency Derivatives with NSE and MCX-SX in the year 2008. In 2009 company has started the services of Portfolio Management Services after being Registered with the SEBI for the same. In year 2010, after having more than 20,000 clients in CDSL, NSDL Depository added in the Company Portfolio. Company has also taken Member ship of USE & ICEX. In 2011 company has added Membership of NCDEX Spot Exchange.

Over the years, Swastika has followed a consistent growth path and is established as one of the leading broking houses of the country with the support and confidence of its clients, investors, employees and associates. Today the Swastika group is managed by a team of over 250 professional staff members and has got a nationwide network.

Swastika Investmart Limited, corporate member of all the premier stock and commodity exchanges, is providing best value for money through personalised services, committed to high standards of corporate governance, highest levels of transparency, accountability and integrity in all its activities.

During the financial year 2016-17, the Company formed an wholly owned subsidiary company i.e. Swastika Investmart (IFSC) Pvt. Ltd.

The Investment Banking division of the Company has launched 4 SME IPOs, all of which listed successfully in FY 2025.

Parent organization Indian Private
NSE symbol [-]
Founded 1992
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Board Of Directors

Left Arrow
Sunil Nyati Chairman & Managing Director
Anita Nyati Whole-time Director
Chandra Shekhar Bobra Independent Director
Tarun Kumar Baldua Independent Director
Anshul Agrawal Independent Director
Parth Nyati Whole Time Director & Chief Executive Officer
Gyan Chand Jain Independent Director
Shikha Agrawal Company Sec. & Compli. Officer
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Frequently Asked Questions

What is the Current Share Price of Swastika Investmart Ltd?

Answer Field

Swastika Investmart Ltd share price is for NSE ₹ 0.00 & for BSE ₹ 70.20 as on May 11 2026 03:29 PM.

What is the Market Cap of Swastika Investmart Ltd Share?

Answer Field

The market cap of Swastika Investmart Ltd for NSE ₹ 0.00 & for BSE ₹ 141.10 as on May 11 2026 03:29 PM.

What is the 52 Week High and Low of Swastika Investmart Ltd?

Answer Field

The 52 Week High and Low of Swastika Investmart Ltd for NSE is ₹ 0.00 and ₹ 0.00 and for BSE is ₹ 149.00 and ₹ 43.65.

What is 1 year return for Swastika Investmart Ltd?

Answer Field

The 1 year returns on the stock has been -45.46%.

What is the P/E Ratio of Swastika Investmart Ltd Share?

Answer Field

As on May 11 2026 03:29 PM the price-to-earnings (PE) ratio for Swastika Investmart Ltd share is 9.76.

What is the PB ratio of Swastika Investmart Ltd Share?

Answer Field

As on May 11 2026 03:29 PM, the price-to-book (PB) ratio for Swastika Investmart Ltd share is 64.72.

How to Buy Swastika Investmart Ltd Share?

Answer Field

You can trade in Swastika Investmart Ltd shares with Bajaj Broking by opening a demat account.

How to Buy Swastika Investmart Ltd Share on Bajaj Broking App?

Answer Field

To buy Swastika Investmart Ltd shares on the Bajaj Broking app, follow these steps:

• Login to the Bajaj Broking App

• Click on the Search Icon

• Search “Swastika Investmart 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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Bajaj Financial Securities Limited is a subsidiary of Bajaj Finance Limited and is a corporate trading and clearing member of BSE Ltd. and National Stock Exchange of India Ltd. (NSEIL), and also a Depository participant with National Securities Depository Ltd (“NSDL”) and Central Depository Services Ltd. (“CDSL”).

Bajaj Financial Securities Limited is engaged in the business of Stock Broking and as a Depository Participant.Bajaj Financial Securities Limited does not provide any advisory services to its clients. Bajaj Financial Securities Limited may share updates from time to time (through various electronic communication modes) which are sourced from public domain and the same are NOT to be construed as any advice or recommendation from Bajaj Financial Securities Limited. Client is requested to independently evaluate and/or consult their professional advisors before arriving at any conclusion to make any investment. The decision to invest shall be the sole responsibility of the Client and shall not hold Bajaj Financial Securities Limited, its employees and associates responsible for any losses, damages of any type whatsoever.

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

Please Note:

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

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

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

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

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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:

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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.