RajStockWatch

LISTINGGAIN: Review of SME IPOs is with aim of finding good companies with strong funda & growth prospects for LONGTERM. These are RATED 2 or3 STARS with APPLY. An IPO which is a REJECT or AVOID without even 1 STAR is Risky even for applying. Others may be ok for listing gain 1/2

What idiotic talk by FM! 😡 Before this Minister increased JAITLY DAMAGE by her crazy FII policy in 2024 budget, INR vs USD was at Rs.83.05. Today after the FII/FPI flight it's at Rs.94.86 Her violent attack 🤬 on foreign investment in India has caused 14.2% rupee depreciation since 2024 budget talk. Compare that to PAKISTAN during the same period. Absolutely STABLE CURRENCY Vs USD Late Jan 2024: 280.54 PKR Late March 2026: 279.25 PKR Remove LTCG, STCG changes done from 2018. That is what BJP Govt has to do. Jaitley did BLUNDER which is further escalated by @nsitharaman May be @PMOIndia is aware of this or NOT????

@nsitharaman People living in dreamland and keep saying FM is not to be blamed and FII/FPI sell off doesn't matter because poor retail is doing SIP for DIIs to replace the outflow, please check the statistics! Madam is CRUSHING it! Super! 😄. x.com/i/status/20375…

😝 Hitting FIIs out of the park with relentless power, our beloved FM @nsitharaman, is on the verge of a WORLD RECORD. 🏆 With one day remaining for the match, she just needs to force FIIs to sell Rs.3069Crores more, on Monday, to be crowned "World Champion FM destroying FII investment in Indian Capital Market". With that, she will surpass her own record of Rs.1,14,445Cr FII Monthly Outflow, set in Oct 2024. What a terrific finish it will be! 😂That should make our PM @narendramodi even more proud of her great FAILURE!😂 Just like Excise Duty cut, it is high time LTCG, STCG and STT are massively cut.

@JeetGur37643596 @nsitharaman Wow! Such brilliant FM. we are so lucky! 😀

@RajStockWatch @nsitharaman 🤡

@vk_sapien @nsitharaman Very Much! 😁

@RajStockWatch @nsitharaman Thanks Madam for destroying the Capital Market. Much appreciated!!

@nsitharaman Looks like even @grok is too much dazed to handle the policy failures of beloved FM!

Considering the upcoming monumental achievement and the sustained Anti Capital Market policies starting with 2018 budget by her predecessor (when capital gains tax was reintroduced without withdrawing STT), further increases of STCG, LTCG rates done in 2024 and STT hike in 2025 budget by the current FM, massive FX outflow since 2018, @grok attempt to roast our FM and her policies (be funny!)

@Sanjay__Harsora The writer has not revealed anything related to former chairman or even discussed the point. But he must be knowing "something"! 🤪 But things are looking controversial for NSE IPO. It will be hard for SEBI to ignore before final ipo approval.

HIGHNESS MICROELECTRONICS SME IPOCLOSING TODAY. BRIEF REVIEW. 🌟APPLIED with the understanding that it imports all components from CHINA & may take time for topline growth, due to niche business segment. Mumbai based company makes LCD display units for various industries. Company is small with around Rs.15Cr turnover, against Rs.240Cr of OSEL divices. Rather than large commercial displays which OSEL focuses on, Highness focuses on smaller displays needed for industrial machinery, medical & defence equipments, ATM Kiosks, Booking Counters and Point Of Sale displays. 🩷 LIKE, READ FULL REVIEW & DECIDE This business review is based on DRHP/RHP filed by the company at Exchange & is based on reviewer’s understanding of the documentation. For a full understanding of risks, financials, objectives & prospects suggest to go through the RHP in detail & form own opinion. OBJECTS: Out of Rs. 22Cr Raised, 2Cr is OFS and Rs.20Cr is fresh Issue. Out of the Rs.20Cr, Capex is Rs.5.2Cr, Working Capital Rs.6.7Cr, Loan Repayment Rs.1.9Cr and rest for general and listing expenses Capex is for setting up an assembly line for manufacturing Open Cells of COG (Chip on Glass) and FOG (Film on Glass) types. BUSINESS & PROSPECTS: Company buys LCD panels, PCBs (Printed Circuit Boards), enclosures, connectors etc and does assembly work. The company makes LCD displays for various industries like Automotive, Textile, Chemical , Medical and other Industries as part of industrial automation, Ticket Vending, Monitors & Displays suitable for Railways, Defence Equipment, ATMs, KIOSKs and Point of Sale terminals. So far, the work is very basic, by buying all components needed like Open Cells, Backlight Unit and Timing Controllers etc from China 👎and Assembling into LCD panels. The Annual sales is just around Rs.15Crores. Very small, compared to around Rs.250Cr of OSEL Devices. To help in growth, company is getting into making making Open Cells by self using IPO funds. This requires assembly line to make Chip on Glass and Film On Glass Panels using Indium Tin Oxide Glass Panel & Flexible Printed Circuit Film and various components. Dec 2025 Order book of ~Rs.10Cr, most of which is for delivery in this Q4. RISKS: 1. Company is fully dependent on China for Open Cells and almost all components needed for assembly into display panels. Though company is going to make Open Cells in-house, it again needs to import all components required for the same from China. 2. The PCBs, ICs, control units etc which are from China has inherent security risks. And like CCTV camera units, this segment also may be subjected to strict requirement of control over firmware. Chinese firmware may not be allowed in future, due to security risk. VALUATION AND DECISION: Rs.120 is at 15x its TTM earnings, on post IPO equity basis. OSEL is a big company and is at 34x(Rs.530) Due to niche focus, the topline is low. However, there is opportunity to grow, especially with own assembly line for open cells which allows to make customized sizes and shapes needed by industrial control equipment manufactures. Company may qualify for Govt’s PLI schemes. (Also company may able to buy components locally in future, since last year Govt has incentivized local production of the same under a PLI scheme) Small Rs.15Cr turnover as base for growth, upcoming Rs.5Cr capex, tiny equity capital of Rs.5.1Cr. All of these could help this company and its stock, IF IT MANAGES to grow its sales fast. There is possibility that it could happen, after capex is completed. Hence, took some risk and APPLIED, though overall market is negative. Suggest to assess by yourself and take your own decision, after further study, considering various factors discussed and any other info available. 🩷LIKE 🔖 BOOKMARK SME IPO REVIEW

@M1dhun_P To differentiate; Blocks are not found to be associated with Covid or vaccines. So other causes should be investigated.

@RajStockWatch It should be studied! Two weeks back friend(40 yo) of mine passed away due to cardiac arrest. He was a plumber from his 18's suddenly 2 year back he had a block after that he switched to a car showroom job. Lived a normal life, drink occtionaly, no smoking, looks healthy.

Holiday Read! COVID Vaccine Heart Failures. At least in the US, researchers are allowed to study sudden deaths and find cause, by analysing heart tissue samples. Moderna MRNA vaccine is found to be dangerous for young people, compared to Pfizer with high risk of Myocarditis. Here in our country, innumerable young people have fallen dead after Covid time. And the Govt / ICMR Refuses to fund INDEPENDENT research. (not govt hog wash) No value for human life. @ICMRDELHI @MoHFW_INDIA

Nimmy cooking FIIs for lunch along with her side kick, Secretary Finance, while the country loses valuable capital market investments. On top of it she forces non stop Fx outflow. x.com/i/status/20368… India faces panic FII withdrawal after the FM further compounds, problem created by her predecessor, Mr. Jaitley in 2018. 2018 - Reintroduction of capital gains tax WITHOUT REMOVING STT 2024 - Increased rate for LTCG and STCG 2026 - Increased STT, while the right thing was to REMOVE STT and reduce LTCG, STCG taxes. FII, LTCG, STCG, STT, REGULATIONS. FII outflow in March 2026 till 25th is whopping Rs1.07Lakh Crores!

TIPCO ENGINEERING SME IPO CLOSING TODAY. BRIEF REVIEW. AVOIDED NOW though the asking valuation is only 11x. Will consider later. Company is a capital equipment maker supplying bead mills, dispersers & homogenizers to chemical, paints, printing, packaging and other industries. Has order book of Rs.76Cr as of 31. Dec 2025. The product demand depends on expansion of Indian Industrial production. The products are good and import substitutes. Unlike recently listed Admach (Steel Industry dependent), TIPCO has lower risk since it caters to multiple industry segments.👍 In some ways (not exact at all), BEW Engineering is a peer (They don’t make exactly same machiones but equipments for local industries) . BEW has ~150Cr sales, 13% op margin and is valued at only 8x at Rs.78. Tipco reported Rs.130Cr in Fy25 at around 18% op margin. Rs.89 is at 11x its TTM earnings, on post IPO equity basis. Not expecting this stock to take off, due to basic focus only on 3 types of machinery for paint, chemical and packaging/printing industries. Looks reasonably good and stable. Would consider for investment, later. Feel no need for rush in this market. Suggest to assess by yourself and take your own decision, after further study, considering various factors discussed and any other info available.

@investor_1421 Not correct. It is Asston. MUCH lower than IPO price

@RajStockWatch Aston trading at higher Mediated lower

SPECIALITY MEDICINES SME IPO CLOSING TODAY. 👎Avoided. Another small pharma distributor with 70% revenue from selling in Africa. Around 13Cr from IPO funds will be used to set up a formulation lab so that they can doe R&D experiment and possibly become a manufacturer in future. Will better wait till that ACTUALLY happens! Rs.124 is at 11.4x its TTM earnings on post IPO Equity basis. RISK: Currently it has NO Drug registrations in African countries. (Table in Page 153 – all producst are unregistered) . Certainly a big disadvantage with respect to companies who get local registrations and approvals

@investor_1421 Recent small Pharma listings. Curis, Medistep, Asston and many more...

@RajStockWatch Bhai it’s at 8x fy26 Isn’t this good Pharma companies trade at a premium Even the plain distribution ones

@samisosa1234 Need benzene and toluene. Both imported. Price as well as availability could be an issue. We can see fall in its peer SH kelkar too. ( Also the massive ongoing expansion could be ready in later half of fy27 and that would need even more of hydrocarbons)

Any idea what's happening in Saccherome , if anybody is following ? Selling is with heavy volumes

@nsitharaman Today turned out to be big FII sell off. Rs.10,414Cr. Total for March now at Rs.97,195Cr . Nimmy is sprinting towards her target! FII DATA

😡Aiming to beat Rs.1,14,445Cr, the biggest monthly FII Outflow, so far! Nirmala Sitharaman @nsitharaman is aiming to get her name etched in the Guinness Book?! March 2026 is all set to beat the previous record of FII outflow. (Till 20th March 2026, Rs.86,780Cr is taken out) Subsequent to the FM increasing STCG from 15% to 20% and LTCG from 10 to 12.5%, FII outflow peaked in OCT 2024 at Rs.1,14,445Cr. This all time record is now under threat.

US market is not taking Iran's denial seriously. Dow Jones has opened 2% up. Will it sustain or collapse by end of the day? That will decide tomorrow's Nifty situation.

Tomorrow NIFTY, say, 1000 points up? why not?! 🤣That is if the Orange Man does not change his stance again! Dow Futures up 1.5%. Crude is down 6.5%. 48 Hours deadline extended by 5 days. Says negotiations going on with Iran

@the2011 Never ending!

@RajStockWatch 3% down tomorrow... Israel attacked tehran!