SHILPAMED
7/7 gatesG1G2G3G4G5G6G7G8
- RS
- 97
- A/D
- A+
- chop
- 90
- to entry
- +0.2%
- base high
- no base
- qty
- 490
- deploy
- 4.95L
- risk
- 18,204
- filing
- —
equity-service · scan of 24 September 2026
Generated 2026-09-24 18:00 IST
state CAUTION · breadth 56.10% vs prior-5 mean 43.04% [breadth gate OPEN] · follow-through gate SHUT — ours reads DOWNTREND: 9 distribution days and no follow-through day since · Nifty -0.94% vs 20MA · 7 distribution days · no follow-through day · MarketSmith RALLY_ATTEMPT · prices through 2026-09-24 · read at 2026-09-24 09:05 IST. A buy needs both gates open — breadth above its prior five-session mean, and a computed status that is not a correction — so nothing below may be placed however good it looks.
The four TIS scans — daily and weekly, stocks and ETFs. Runs: SWING 2026-09-24 17:30 IST; WEEKLY 2026-09-24 17:32 IST; ETF 2026-09-24 17:37 IST; ETF_WEEKLY 2026-09-24 17:37 IST
SWING — 879 scanned, 673 with a stop derived, 46 at ≥6 of 7 gates, 8 actionable, actionable plus the ≥6-gate watch rows — blocked by G3 x31, G5 x17, G4 x5, G2 x1. sizing: Rs 39,808 risk budget / Rs 494,930 deploy cap, 12 slots (t-default)
Every gate that counts has passed — placeable while the market gate is open.
Every gate that counts has passed — placeable while the market gate is open.
G3 30-day momentum — +19% in 30d — no institutional move under way
G3 30-day momentum — +8% in 30d — no institutional move under way
G3 30-day momentum — -8% in 30d — no institutional move under way
G3 30-day momentum — -1% in 30d — no institutional move under way
G3 30-day momentum — +11% in 30d — no institutional move under way
G6 EPS QoQ growth — EPS -47% QoQ — earnings are not what is moving this
G3 30-day momentum — +9% in 30d — no institutional move under way
G3 30-day momentum — +8% in 30d — no institutional move under way
G3 30-day momentum — +19% in 30d — no institutional move under way
G8 daily range — ~7.1%/day — too wild for a sane stop (true high-low range)
G6 EPS QoQ growth — EPS -55% QoQ — earnings are not what is moving this
G3 30-day momentum — +17% in 30d — no institutional move under way
G3 30-day momentum — +17% in 30d — no institutional move under way
G3 30-day momentum — -11% in 30d — no institutional move under way
G3 30-day momentum — +12% in 30d — no institutional move under way
G3 30-day momentum — -1% in 30d — no institutional move under way
G7 relative strength — RS 84 — below the band where this strategy has an edge
G3 30-day momentum — +2% in 30d — no institutional move under way
G3 30-day momentum — +18% in 30d — no institutional move under way
G3 30-day momentum — -4% in 30d — no institutional move under way
G3 30-day momentum — +4% in 30d — no institutional move under way
WEEKLY — 879 scanned, 257 with a stop derived, 1 at ≥6 of 7 gates, 0 actionable, actionable plus the ≥6-gate watch rows — blocked by G4 x1. sizing: Rs 39,808 risk budget / Rs 494,930 deploy cap, 12 slots (t-default)
G4 stop width — 11.8% below entry, over the 5.0% cap — either there is no nearby swing low or the entry is extended, and both mean no trade
ETF — 23 scanned, 21 with a stop derived, 1 at ≥6 of 7 gates, 1 actionable, actionable plus the ≥6-gate watch rows. sizing: Rs 39,808 risk budget / Rs 494,930 deploy cap, 12 slots (t-default)
G8 daily range — ~4.8%/day — too wild for a sane stop (true high-low range)
ETF_WEEKLY — 23 scanned, 16 with a stop derived, 0 at ≥6 of 7 gates, 0 actionable, actionable plus the ≥6-gate watch rows. sizing: Rs 39,808 risk budget / Rs 494,930 deploy cap, 12 slots (t-default)
ETF_WEEKLY: nothing actionable, and nothing within one gate of it (16 names with a stop derived, none at ≥6 of 7).
Rows are the scan's own record, not a recomputation. 'blocked by' lists every failing gate, not the first.
A *candidate* is any name the scanner could derive a pivot and a stop for, before a single gate is judged; the gates are then scored on every one of them so that a six-of-seven is visible the morning after. The shortlist a reader means by 'passed the gates' is the ≥6 count.
'to entry' is how far the buy trigger sits above the last price the scan saw — not an overnight gap. For the daily scanners the trigger is 0.2% over the last close, so a larger figure means the quote has since moved; negative means the market is already through it.
The two that are not TIS. Both are in the nightly scan, but only the four TIS scanners feed the agent: STRIKE is intraday and everything placed here is CNC, so these rows are read by hand. STRIKE is SWING with a 2R target; REVERSAL buys a washout and enters at the market, so its rows are judged on R1-R3 rather than on the eight gates. Runs: STRIKE 2026-09-24 17:34 IST; REVERSAL 2026-09-24 17:36 IST
STRIKE — 879 scanned, 673 with a stop derived, 46 at ≥6 of 7 gates, 8 actionable, actionable plus the ≥6-gate watch rows — blocked by G3 x31, G5 x17, G4 x5, G2 x1. sizing: Rs 39,808 risk budget / Rs 494,930 deploy cap, 12 slots (t-default)
Every gate that counts has passed — placeable while the market gate is open.
Every gate that counts has passed — placeable while the market gate is open.
G3 30-day momentum — +19% in 30d — no institutional move under way
G3 30-day momentum — +8% in 30d — no institutional move under way
G3 30-day momentum — -8% in 30d — no institutional move under way
G3 30-day momentum — -1% in 30d — no institutional move under way
G3 30-day momentum — +11% in 30d — no institutional move under way
G6 EPS QoQ growth — EPS -47% QoQ — earnings are not what is moving this
G3 30-day momentum — +9% in 30d — no institutional move under way
G3 30-day momentum — +8% in 30d — no institutional move under way
G3 30-day momentum — +19% in 30d — no institutional move under way
G8 daily range — ~7.1%/day — too wild for a sane stop (true high-low range)
G6 EPS QoQ growth — EPS -55% QoQ — earnings are not what is moving this
G3 30-day momentum — +17% in 30d — no institutional move under way
G3 30-day momentum — +17% in 30d — no institutional move under way
G3 30-day momentum — -11% in 30d — no institutional move under way
G3 30-day momentum — +12% in 30d — no institutional move under way
G3 30-day momentum — -1% in 30d — no institutional move under way
G7 relative strength — RS 84 — below the band where this strategy has an edge
G3 30-day momentum — +2% in 30d — no institutional move under way
G3 30-day momentum — +18% in 30d — no institutional move under way
G3 30-day momentum — -4% in 30d — no institutional move under way
G3 30-day momentum — +4% in 30d — no institutional move under way
REVERSAL — 589 scanned, 394 with a stop derived, 0 at ≥6 of 7 gates, 0 actionable, actionable plus the ≥6-gate watch rows. sizing: Rs 39,808 risk budget / Rs 494,930 deploy cap, 12 slots (t-default)
REVERSAL: nothing actionable, and nothing within one gate of it (394 names with a stop derived, none at ≥6 of 7).
A *candidate* is any name the scanner could derive a pivot and a stop for, before a single gate is judged; the gates are then scored on every one of them so that a six-of-seven is visible the morning after. The shortlist a reader means by 'passed the gates' is the ≥6 count.
The session before the last one, so each move has a day of follow-through beside it. `next` is that following session — a run given straight back is a different event from one that held.
128 names moved 3% or more; showing 15.
| symbol | move | next | close | vs 20MA | RS | A/D | RRG | rank | sector | filing | why (headline) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PREMIERPOL | +3.9% | 96.72 | +9.3% | 90 | B | IMPROVING | 37 | Bldg-Constr Prds/Misc | — | Premier Polyfilm Share Price at Rs 97.14 near 52-week peak | |
| PRIORITY | +15.4% | 263.35 | — | 40 | — | WEAKENING | 10 | Retail/Whlsle-Jewelry | — | Priority Jewels Ltd Key Financial Ratios – Valuation, Profitability & | |
| OPTIEMUS | -5.7% | 828.35 | +39.1% | 91 | A- | — | — | Telecom-Consumer Prods | — | Buy, Sell Or Hold: NSE vs BSE, Ola Electric, Laurus Labs, GE Shipping, | |
| MANINDS | -2.4% | 986.70 | +21.6% | 95 | A | LEADING | 1 | Oil&Gas-Field Services | — | Here's Why Man Industries (India) (NSE:MANINDS) Has Caught The Eye Of | |
| SUBEXLTD | -6.2% | 22.08 | +16.5% | 94 | B | IMPROVING | 52 | Computer-Tech Services | — | Subex shares hit 52-week high, rise 14%; here's why | |
| JAYKAY | -4.8% | 212.76 | +27.4% | 77 | A+ | LEADING | 2 | Financial Svcs-Specialty | — | Jaykay Enterprises Subsidiary Neumesh Labs Receives MCA Investigation | |
| SHANTIGOLD | -1.5% | 288.07 | +13.4% | 80 | A | WEAKENING | 10 | Retail/Whlsle-Jewelry | Reply to Clarification- Financial 23 Sep | Shanti Gold International Share Price rises 9.58% today | |
| MUKANDLTD | -1.2% | 157.11 | +14.0% | 65 | A- | IMPROVING | 23 | Steel-Producers | — | Does Mukand (NSE:MUKANDLTD) Deserve A Spot On Your Watchlist? | |
| OLAELEC | +1.6% | 41.87 | +9.2% | 58 | A- | LEADING | 19 | Auto Manufacturers | — | Ola Electric shares hit 12-week high, rise 6%; here's why | |
| DIGJAMLMTD | -5.0% | 68.42 | +30.8% | 78 | B- | LEADING | 5 | Apparel-Clothing Mfg | — | — | |
| RPGLIFE | -4.1% | 3,025.40 | +11.6% | 80 | B+ | WEAKENING | 13 | Medical-Diversified | — | RPG Life Sciences Share Price Rise With Valuation Context | |
| MPIMANIPAL | -3.4% | 372.60 | — | 56 | — | — | — | Finance-CrdtCard/PmtPr | — | Manipal Payment & Identity Solutions Ltd | Stock Share Price Live | |
| GALAPREC | -4.0% | 1,164.20 | +12.4% | 76 | A- | LEADING | 3 | Machinery-Gen Industrial | — | Gala Precision Engineering Share Price Rises 8.88% Today | |
| KABRAEXTRU | +10.0% | 732.85 | +15.1% | 98 | A+ | LEADING | 3 | Machinery-Gen Industrial | — | — | |
| PGIL | -2.1% | 1,300.80 | -30.4% | 89 | B+ | LEADING | 5 | Apparel-Clothing Mfg | — | PGIL 52 Week High Streak: Price, Sector, Valuation View |
Themes: sectors with two or more of the 128 movers. This is what the list is read for — which group is working, so the next setup taken is in it. 'held' is how many kept the move the next session; a theme LAGGING on the RRG while leading the tape is a disagreement to resolve before sizing in it.
| theme | movers | avg move | held | RRG | rank | names |
|---|---|---|---|---|---|---|
| Retail/Whlsle-Jewelry | 6/8 | WEAKENING | 10 | PRIORITY, SHANTIGOLD, RGL, KDDL, LALITHAA, TBZ … | ||
| Apparel-Clothing Mfg | 4/8 | LEADING | 5 | DIGJAMLMTD, PGIL, FILATEX, RUBYMILLS, ICIL, PASUPTAC … | ||
| Chemicals-Specialty | 2/8 | LAGGING | 30 | NOCIL, BALAMINES, PRASOLCHEM, YASHO, IGPL, BODALCHEM … | ||
| Electrical-Power/Equipmt | 1/7 | IMPROVING | 26 | CYIENTDLM, LASERPOWER, BHAGYANGR, QPOWER, KANOHAR, PITTIENG … | ||
| Computer-Tech Services | 5/6 | IMPROVING | 52 | SUBEXLTD, ONEPOINT, CPPLUS, SIGMAADV, IVALUE, EBGNG | ||
| Food-Packaged | 3/6 | LAGGING | 34 | BIKAJI, DALMIASUG, GAEL, TASTYBITE, UGARSUGAR, UTTAMSUGAR | ||
| Steel-Producers | 3/5 | IMPROVING | 23 | MUKANDLTD, LLOYDSENT, PENIND, SGIL, KSL | ||
| Machinery-Gen Industrial | 3/4 | LEADING | 3 | GALAPREC, KABRAEXTRU, LOKESHMACH, CARBORUNIV | ||
| Financial Svcs-Specialty | 2/4 | LEADING | 2 | JAYKAY, IFCI, FEDDERSHOL, MCX | ||
| Medical-Diversified | 2/3 | WEAKENING | 13 | RPGLIFE, INNOVACAP, MARKSANS | ||
| Real Estate Dvlpmt/Ops | 1/3 | IMPROVING | 29 | ARVSMART, TEXINFRA, PVP | ||
| Auto/Truck-Original Eqp | 3/3 | LAGGING | 32 | RAJRATAN, GNA, DIVGIITTS | ||
| Steel-Specialty Alloys | 1/3 | IMPROVING | 55 | MWL, SAMBHV, JAINREC | ||
| Chemicals-Agricultural | 2/3 | IMPROVING | 59 | DHARMAJ, GNFC, SHIVALIK | ||
| Banks-Money Center | 1/3 | LAGGING | 43 | TMB, BANDHANBNK, KTKBANK | ||
| Beverages-Alcoholic | 2/3 | LAGGING | 28 | TI, RADICO, UNITDSPR | ||
| Medical-Generic Drugs | 1/2 | IMPROVING | 25 | WOCKPHARMA, WANBURY | ||
| Utility-Electric Power | 1/2 | IMPROVING | 39 | CLEANMAX, EXICOM | ||
| Bldg-Heavy Construction | 1/2 | IMPROVING | 57 | SUYOG, CEIGALL | ||
| Retail-Internet | 1/2 | LAGGING | 27 | ISFT, CARTRADE |
The 'why' column is the top headline a news search returned for that name, coloured by the same heuristic the News section explains. A blank means nothing was written, which for a name up 15% is itself worth noticing: a move with no story behind it is a move to distrust.
Group moves among the names shown — Retail/Whlsle-Jewelry x2; Apparel-Clothing Mfg x2; Machinery-Gen Industrial x2. The themes table below groups *all* the movers, not just these.
4 of 15 closed 20% or more above their 20MA — continuation spikes, not base breakouts, which is why the scan finds no tight stop under them.
Headlines for the market as a whole, newest first, from a Google News search. Company headlines sit on the setup cards and beside the names that ran.
Green and red are a **headline heuristic**: a few dozen words — 'bags order', 'wins contract' against 'probe', 'downgrade', 'profit falls'. It reads the headline and nothing else — not the article, not the exposure, not whether the move is already priced. It is there so the eye stops at the right row, and it is not a signal.
From MarketSmith's pre-open note, for today only.
| quote sent | GIFT Nifty | previous close | implied gap |
|---|---|---|---|
| 2026-09-24 08:57 IST | 23,282.00 | 23,446.80 | -0.70% |
GIFT Nifty is the index, not a stock. A name moves roughly with it only if its beta is near 1, and `check_open_gap` prints that caveat beside every order it names. Run that command for the resting triggers this open would fill through — it is the actionable half and it is deliberately not duplicated here.
The emails the gate is read from, newest first.
| received | parsed as | status | body says | subject |
|---|---|---|---|---|
| 2026-09-24 16:56 IST | status | DOWNTREND | — | Market Status Changed to a Downtrend |
| 2026-09-24 10:30 IST | unrecognised | — | — | The CAN SLIM Playbook: 13 Rules to Master Growth Investing |
| 2026-09-24 08:57 IST | unrecognised | — | Rally Attempt | GIFT Nifty Signals Weak Start as US 10-year Yield Hits 19-year High; All Eyes on NSE's Debut Tod |
| 2026-09-23 17:01 IST | unrecognised | — | Rally Attempt | Brent Slips Below $100 on US-Iran Talks, Sparking a Broad-Based Rally on Dalal Street |
| 2026-09-23 10:00 IST | unrecognised | — | — | 11 Tools to Find True Market Leaders and Invest Smarter |
| 2026-09-23 08:56 IST | unrecognised | — | Rally Attempt | Cooler Oil and Yields Fail to Lift GIFT Nifty Ahead of a Soft Open |
| 2026-09-22 16:57 IST | unrecognised | — | Rally Attempt | Nifty snaps four-day winning run, ends below 23,350 as late selloff wipes out expiry-day gains |
| 2026-09-22 08:55 IST | unrecognised | — | Rally Attempt | GIFT Nifty Signals Firm Start as Softer Crude and Global Cues Ease Geopolitical Concerns |
MarketSmith's Buy Watchlist. Our universe holds tickers and the mail publishes company names, so a blank 'in our universe' is an unmatched name, not an absent one — match by eye against the scan.
The newest mail carries no Buy Watchlist. Weekly reports and learning modules do not; a daily pre-market mail should.
Model portfolio moves
| dated | action | name | sector | profit |
|---|---|---|---|---|
| 2026-09-18 | remove | NESTLEIND | Food-Misc Preparation | -10% |
| 2026-09-15 | profit | AVL | Retail-Consumer Elec | 5% |
| 2026-09-15 | remove | NETWEB | Computer Sftwr-Database | -9% |
| 2026-09-15 | remove | SHRIRAMFIN | Finance-Consumer Loans | -11% |
| 2026-09-01 | remove | PRIVISCL | Chemicals-Specialty | — |
'parsed as' is the subject-line classifier, which recognises only status-change alerts — 'unrecognised' on a daily commentary is by design, not a failure. 'body says' is the Market Pulse read out of the mail itself; see `show_marketsmith` for the whole mail.
A separate instrument and a separate decision. No gate here reads a chart.
No mainboard IPO is open or upcoming.
GMP is an unregulated over-the-counter quote with no print behind it. Measured over 295 listings it correlates 0.87 with the realised listing gain and overstates it by about 2.6pp; a zero GMP has averaged -6.6% and was positive 29% of the time. The subscription columns are the exchange's own and are the half that can be verified.
SME is excluded. Run backtest_gmp to re-measure any of the above.
Thirteen mainboard issues on the board, read at 10:30 IST on 24 September across Trendlyne, Chittorgarh, the IPO Watch and InvestorGain GMP boards, and the exchange's own subscription figures. This is a refresh: eleven of the thirteen were called yesterday and the calls are carried forward unless a number moved. What moved: the exchange book on the four issues closing tomorrow, and the GMP on almost everything. Expected listing is the GMP percentage less 2.6 points — the overstatement backtest_gmp measured over 295 listings (r = 0.87); a zero GMP has averaged −6.6% and listed positive 29% of the time. Applied: Adroit Industries sHNI ₹2L+ on 23 Sep; Moneyview HNI on 24 Sep. Held: NSE allotment, 120 shares at ₹1,785, listed today at ₹1,862 and being held.
| IPO | call | GMP | GMP % | expected listing | apply as | horizon | book |
|---|---|---|---|---|---|---|---|
| Adroit Industries | APPLIED — SELL ALL | ₹34 | ~+23% | sHNI ₹2–10L (applied 23 Sep) | Sell the whole allotment at the open | day 2: 5.18x · retail 7.24x · HNI 7.2x · QIB 0.05x | |
| Moneyview | APPLY | ₹14 | ~+39% | HNI — applied 24 Sep | Sell 70% on listing; hold 30% only on clean Q2 credit costs | opened today · GMP up from ₹11 (+32.4%) to ₹14 | |
| Orient Cables | APPLY | ₹45 | ~+14% | Retail 1 lot; sHNI — the ₹30 condition is met | Sell half on listing, hold half | anchor 24 Sep · retail ₹193 Cr · GMP up from ₹34 | |
| A-One Steels | APPLY, small | ₹55 | ~+11% | Retail 1 lot only | Listing-day sell, no hold | opened today · anchor 23 Sep, no names published | |
| German Green Steel | SKIP — watch after listing | ₹24 | ~+15% | — | Buy post-listing only at or below book, if steel holds | anchor 24 Sep · Systematix, IIFL, CLSA · GMP up from ₹15 | |
| ArMee Infotech | SKIP | ₹55 | ~+12% | — | — | day 2: 0.53x · QIB 0.93x · HNI 0.39x · retail 0.5x | |
| Swastika Infra | SKIP — revisit | ₹8 | ~+2% | — | Post-listing study if the order book converts | day 2: 0.96x · QIB 0.69x · HNI 1.9x · retail 0.71x | |
| Elevate Campuses | AVOID at IPO | ₹3 | ~−2% | — | Revisit below ~₹270 with verified debt reduction | day 2: 0.2x · QIB 0.18x · HNI 0.3x · retail 0.13x | |
| Varmora Granito | AVOID | ₹0 | ~−6.6% | — | — | final day: 0.27x · QIB 0.11x · HNI 0.17x · retail 0.4x | |
| Runwal Enterprises | SKIP | ₹18 | ~+3% | — | — | ICICI Sec + Jefferies · GMP unchanged | |
| AceVector (Snapdeal) | AVOID | ₹0 | ~−6.6% | — | — | anchor 24 Sep · SoftBank and Nexus selling | |
| SRIT India | AVOID | ₹12 | ~+6.6% | — | Revisit only after the Blossom transaction is closed and disclosed | new today · anchor bidding 25 Sep · sole BRLM Choice Capital | |
| Shah Investor’s Home | AVOID | ₹10 | ~+3.4% | — | Revisit only on two quarters of recovering revenue | new today · anchor 25–26 Sep · sole BRLM Beeline Capital |
Two columns are printed for every open issue because they disagree today. The grey market marked ArMee up 20% overnight while its exchange book sits at 0.53x with a day to go, and marked German Green Steel up 60% on an issue that has not opened. GMP predicts the listing well in aggregate and has no print behind any single quote; the subscription figures are the exchange's own. Where they conflict, the call follows the book. Before tomorrow's close: Adroit's QIB line, and whether Varmora completes at all.
<b>Yesterday's page wrote the condition down and today it is firing.</b> The note read: <em>QIB under 1x at Friday's close with retail above 5x is the weak-listing pattern — sell the whole allotment at the open.</em> On day 2 QIB is <b>0.05x</b> against retail <b>7.24x</b> and HNI <b>7.2x</b>. Institutions are absent and the book is being filled entirely by individuals, which is the shape that lists well and then fades. QIB lines do fill on the final day, so the condition is not formally met until tomorrow's close — but 0.05x with one session left is not a line that reaches 5x, and the horizon changes now rather than after the fact. The business case is unchanged and still good: 27.7% EBITDA margin against 11–16% for the peers, 88% fresh into capex. <b>This is a listing trade, not a holding.</b> The tranche-hold is off.
<b>Applied 24 September, HNI.</b> The strongest grey market on the board and it strengthened overnight, ₹11 to ₹14, 32.4% to 41.2% — the only issue here whose expected listing clears +30% after the overstatement is taken off. Call and horizon unchanged from yesterday. The hold condition is still the credit-cost line in Q2 rather than the listing pop: a lender's listing gain tells you nothing about its book, and 30% of the allotment is the most that should ride on a quarter nobody has seen yet. <b>What to watch before Monday's close, and it is the Adroit lesson:</b> the QIB line. Adroit was applied for on the same reasoning and is closing at 0.05x QIB against 7.24x retail. If Moneyview's book takes the same shape — retail far ahead, institutions absent — the 30% hold comes off and the whole allotment is sold at the open.
Yesterday's call carried a condition: <em>sHNI if GMP ≥ ₹30 on day 3</em>. It is ₹45, up from ₹34, so the condition is met before the issue has even opened. Retail slice of ₹193 Cr is large enough that the odds do not collapse at a high multiple, which is the reason this is a better sHNI candidate than a ₹150 Cr issue at the same subscription.
Unchanged call. GMP firmed from ₹50 to ₹55 but the percentage barely moved, 12.3% to 13.6%, because the band is high. The anchor book still has no published names, which is why this stays retail-only and does not get an sHNI cheque.
The largest overnight GMP move on the board, ₹15 to ₹24, and the call does not change on that alone. <b>A grey-market quote is not a reason to apply to an issue skipped on its fundamentals</b> — it is the half of the evidence with no print behind it. What would change the call is the anchor list published today: domestic mutual funds rather than a row of small AIFs.
<b>The clearest divergence on the board and the reason the two columns are both printed.</b> The grey market marked this up from ₹46 to ₹55 overnight while the exchange book sits at <b>0.53x with one day left</b> — retail itself only 0.5x against a quota that is 52.5% retail. One of those numbers is an unregulated quote with no print behind it and the other is the exchange's own record of money actually bid. The skip stands on the verifiable half.
Unchanged on every number that matters — GMP still ₹8, book still under 1x on the second day with only the HNI line above water. Expected listing of about +2% does not pay for the application.
The avoid is being confirmed by the tape. GMP fell from ₹5 to ₹3 and the book is <b>0.2x with one day left</b>, retail at 0.13x against a retail quota of only 10%. At a GMP of 0.8% the expected listing is already negative once the 2.6-point overstatement is taken off. The structural objection is unchanged and is the real one: ₹1,100 Cr of proceeds to the sponsor's Singapore entities.
Closes today at <b>0.27x</b> with the grey market at zero, down from ₹5 yesterday. A zero GMP has averaged <b>−6.6%</b> on listing and listed positive 29% of the time across the 295 listings behind the lens. An issue that cannot fill its own book is the cleanest avoid on this page, and the valuation objection — 61x against Kajaria's 40x on half the RoE — was there before the book confirmed it.
Nothing moved overnight. Expected listing of about +3% does not pay for the lock-up.
Still zero in the grey market on the day before it opens. The objection is unchanged: SoftBank and Nexus are selling, which makes the issue an exit rather than a raise.
Bengaluru IT services for government — e-governance, healthcare, telecom; CMMI Level 5; ₹1,280 Cr order book at 3.3x revenue. The structure is the good part: <b>100% fresh, no OFS</b>, promoter 84.9% → 62.7%, D/E 0.23. <b>Three things override it.</b> First, the RHP discloses a conditional binding term sheet to buy 50% of Blossom Multi Specialty Hospital at an indicative ₹280 Cr valuation — <b>₹140 Cr for the stake, against a ₹218 Cr raise</b> — plus an inter-corporate deposit of up to ₹50 Cr, and the seller, Dr Chandan Dash, has been a non-executive director of SRIT since 10 August 2026 while the relationship is recorded as “Nil”. Whether IPO money funds it is not stated, and about 35% of gross proceeds is earmarked for <em>unidentified</em> acquisitions. Second, <b>profit is not becoming cash</b>: operating cash flow −₹58.9 Cr in FY25 and −₹17.5 Cr in H1 FY26 while PAT rose to ₹43.3 Cr, with cash down 69% to ₹7.6 Cr. Third, the headline 30% RoE is backward-looking — H1 FY26 is 16.0% RoE and 16.4% RoCE, and sub-contracting has gone from 61% of revenue to 73%. At 24.8x trailing against Mastek's 17.5x with worse margins and worse conversion, a +6.6% expected listing is not payment for any of that.
Gujarat and Maharashtra retail broker, 1994, eleven branches, ~38,000 active clients. No OFS, promoters stay at 62.8%, D/E 0.10, and a genuinely thick 30% EBITDA margin even in a bad year. <b>The problem is the direction of travel.</b> Revenue fell 23% and PAT fell 44% into the issue — ₹23.4 Cr to ₹13.1 Cr — RoE halved from 14.7% to 7.6%, and it is priced at <b>26.9x post-issue on that declining base</b>. Operating cash flow is −₹19.7 Cr against ~₹13 Cr of reported profit, and borrowings tripled to ₹18.5 Cr while the issue asks for ₹60 Cr of working capital. The sole banker, Beeline Capital, is predominantly an SME-IPO house with no retrievable mainboard listing record. A broking cycle turns and this may well be a trough — but the trough is being sold at a peak multiple, and a GMP of 6% that was zero yesterday is not conviction.
What the companies told the exchange, for names we follow.
| symbol | filed | category | what it says |
|---|---|---|---|
| 360ONE | 22 Sep 16:44 | Outcome of Board Meeting | 360 ONE WAM LIMITED has informed the Exchange regarding Outcome of Board Meeting held on September 22, 2026. |
| AADHARHFC | 22 Sep 15:25 | Credit Rating- Revision | Aadhar Housing Finance Limited has informed the Exchange about change in the Credit Rating of the Company. |
| AETHER | 24 Sep 11:42 | Credit Rating | Aether Industries Limited has informed the Exchange about Credit Rating |
| ALGOQUANT | 23 Sep 11:03 | Reply to Clarification- Financial result | The Exchange had sought clarification from Algoquant Fintech Limited for the quarter ended 30-Jun-2026 with re |
| ALKEM | 24 Sep 13:29 | Resignation of Director/KMP/SMP | Alkem Laboratories Limited has informed the Exchange about Resignation of Director/KMP/SMP |
| ARTEMISMED | 24 Sep 13:03 | Credit Rating | Artemis Medicare Services Limited has informed the Exchange about Credit Rating |
| BHARATFORG | 23 Sep 12:43 | Credit Rating | Bharat Forge Limited has informed the Exchange about Credit Rating |
| BORORENEW | 22 Sep 12:09 | Capacity addition | BOROSIL RENEWABLES LIMITED has informed the Exchange about Update on Capacity expansion |
| CARYSIL | 22 Sep 13:27 | Outcome of Board Meeting | CARYSIL LIMITED has informed the Exchange regarding Outcome of Board Meeting held on September 22, 2026. |
| CGCL | 22 Sep 21:09 | Credit Rating | Capri Global Capital Limited has informed the Exchange about Credit Rating |
| CGCL | 22 Sep 14:34 | Credit Rating | Capri Global Capital Limited has informed the Exchange about Credit Rating |
| CONCORDBIO | 23 Sep 17:13 | Bonus | Concord Biotech Limited has informed the Exchange that the Board of Directors at its meeting held on September |
| CONSOFINVT | 23 Sep 20:49 | Outcome of Board Meeting | Consolidated Finvest & Holdings Limited has informed the Exchange regarding Outcome of Board Meeting held on S |
| DIFFNKG | 23 Sep 12:37 | Credit Rating | Diffusion Engineers Limited has informed the Exchange about Credit Rating |
| DWARKESH | 23 Sep 15:56 | Credit Rating | Dwarikesh Sugar Industries Limited has informed the Exchange about Credit Rating |
| DYCL | 23 Sep 17:47 | Resignation of Director/KMP/SMP | Dynamic Cables Limited has informed the Exchange about Resignation of Director/KMP/SMP |
| DYCL | 23 Sep 17:41 | Resignation | Dynamic Cables Limited has informed the Exchange regarding Resignation of Senior Management Personnel |
| EPACKPEB | 21 Sep 14:30 | Reply to Clarification- Financial result | The Exchange had sought clarification from EPack Prefab Technologies Limited for the quarter ended 30-Jun-2026 |
| EUROPRATIK | 23 Sep 12:37 | Outcome of Board Meeting | For acquisition of controlling stake of 56% in Fabwood Solutions LLP, which shall eventually own the business |
| FEDERALBNK | 22 Sep 15:52 | Credit Rating | The Federal Bank Limited has informed the Exchange about Credit Rating |
| FRACTAL | 23 Sep 18:59 | Resignation of Director/KMP/SMP | Fractal Analytics Limited has informed the Exchange about Resignation of Director/KMP/SMP |
| FRACTAL | 23 Sep 17:31 | Resignation | Mr. Matthew Gennone, one of the Senior Management of the Company designated as Chief Commercial Officer & CEO |
| GLOBAL | 24 Sep 12:38 | Buyback | Global Education Limited has informed the Exchange about Buyback |
| GLOBAL | 24 Sep 12:36 | Outcome of Board Meeting | Global Education Limited has informed the Exchange regarding Outcome of Board Meeting held on September 24, 20 |
| GODIGIT | 24 Sep 12:39 | Credit Rating | Go Digit General Insurance Limited has informed the Exchange about Credit Rating |
| GVT&D | 23 Sep 16:40 | Credit Rating | GE Vernova T&D India Limited has informed the Exchange about Credit Rating |
| HNDFDS | 23 Sep 18:36 | Resignation of Director/KMP/SMP | Hindustan Foods Limited has informed the Exchange about Resignation of Director/KMP/SMP |
| HNDFDS | 23 Sep 17:37 | Resignation | Hindustan Foods Limited has informed the Exchange regarding Resignation of Mr Nikhil Vora as Non- Executive Di |
| HNDFDS | 23 Sep 17:33 | Outcome of Board Meeting | Hindustan Foods Limited has informed the Exchange regarding Outcome of Board Meeting held on September 23, 202 |
| INOXGREEN | 23 Sep 20:19 | Credit Rating- Others | Inox Green Energy Services Limited has informed the Exchange about Credit Rating- Company has voluntarily with |
| INTERARCH | 24 Sep 12:46 | Capacity addition | Interarch Building Solutions Limited has informed the Exchange about Capacity addition |
| JGCHEM | 24 Sep 16:07 | Credit Rating- New | J.G.Chemicals Limited has informed the Exchange about Credit Rating- New |
| JNKINDIA | 24 Sep 13:10 | Credit Rating- Revision | Pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015 we wish to inform you that the CRISIL Ratings L |
| JSWINFRA | 23 Sep 16:39 | Credit Rating- New | JSW Infrastructure Limited has informed the Exchange about Credit Rating assigned to one of the subsidiary com |
| JSWINFRA | 23 Sep 16:26 | Credit Rating- Revision | JSW Infrastructure Limited has informed the Exchange about revision in Credit Rating of one of the subsidiary |
| JSWINFRA | 23 Sep 16:21 | Credit Rating- Revision | JSW Infrastructure Limited has informed the Exchange about revision in the Credit Rating of one of the subsidi |
| JSWINFRA | 23 Sep 16:17 | Credit Rating- Revision | JSW Infrastructure Limited has informed the Exchange about revision in the credit rating of one of the subsidi |
| JSWINFRA | 23 Sep 16:08 | Credit Rating | JSW Infrastructure Limited has informed the Exchange about Credit Rating |
| KALYANKJIL | 22 Sep 18:10 | Credit Rating | Kalyan Jewellers India Limited has informed the Exchange about Credit Rating |
| KMEW | 21 Sep 19:33 | Credit Rating | Knowledge Marine & Engineering Works Limited has informed the Exchange about Credit Rating |
| LALPATHLAB | 24 Sep 17:24 | Outcome of Board Meeting | Dr. Lal Path Labs Ltd. has informed the Exchange regarding Outcome of Board Meeting held on September 24, 2026 |
| LASERPOWER | 23 Sep 16:19 | Resignation of Director/KMP/SMP | Laser Power & Infra Limited has informed the Exchange about Resignation of Director/KMP/SMP |
| LASERPOWER | 23 Sep 15:07 | Resignation | Laser Power & Infra Limited has informed the Exchange regarding Resignation of Mr. Debendra Banthiya as Compan |
| LASERPOWER | 23 Sep 15:01 | Outcome of Board Meeting | Laser Power & Infra Limited has informed the Exchange regarding Outcome of Board Meeting held on September 23, |
| LENSKART | 23 Sep 23:15 | Acquisition | Lenskart Solutions Limited has informed the Exchange about acquisition of an additional stake in in Le Petit L |
| LLOYDSME | 21 Sep 15:55 | Capacity addition | Intimation of increase in capacity of DRI Plants at Ghugus and Konsari. |
| LLOYDSME | 21 Sep 15:44 | Outcome of Board Meeting | Outcome of Board Meeting held on 21st September, 2026 |
| LUMINO | 21 Sep 20:10 | Outcome of Board Meeting | Lumino Industries Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 20 |
| MANBA | 22 Sep 18:23 | Outcome of Board Meeting | Manba Finance Limited has informed the Exchange regarding Outcome of Board Meeting held on September 22, 2026. |
| MANORAMA | 22 Sep 14:37 | Outcome of Board Meeting | Manorama Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on September 22, |
| MBECL | 23 Sep 15:40 | Reply to Clarification- Financial result | The Exchange had sought clarification from Mcnally Bharat Engineering Company Limited for the quarter ended 30 |
| MINDACORP | 24 Sep 12:50 | Outcome of Board Meeting | Minda Corporation Limited has informed the Exchange regarding Outcome of Board Meeting held on September 24, 2 |
| MINDACORP | 24 Sep 12:48 | Outcome of Board Meeting | Minda Corporation Limited has informed the Exchange regarding Outcome of Board Meeting held on September 24, 2 |
| MINDACORP | 24 Sep 12:47 | Outcome of Board Meeting | Minda Corporation Limited has informed the Exchange regarding Outcome of Board Meeting held on September 24, 2 |
| PARAGMILK | 21 Sep 21:26 | Capacity addition | Parag Milk Foods Limited has informed the Exchange about expansion of Paneer manufacturing Capacity |
| PDSL | 22 Sep 14:27 | Acquisition | PDS Limited has informed the Exchange about Acquisition |
| PFOCUS | 23 Sep 08:06 | Outcome of Board Meeting | Prime Focus Limited has informed the Exchange regarding Outcome of Board Meeting held on September 23, 2026. |
| PFOCUS | 23 Sep 08:06 | Outcome of Board Meeting | Prime Focus Limited has informed the Exchange regarding Outcome of Board Meeting held on September 23, 2026. |
| PITTIENG | 23 Sep 17:34 | Amalgamation/Merger | Pitti Engineering Limited has informed the Exchange about Date of effectiveness of the Scheme |
| PNBHOUSING | 23 Sep 18:39 | Resignation of Director/KMP/SMP | PNB Housing Finance Limited has informed the Exchange about Resignation of Director/KMP/SMP |
| PVP | 24 Sep 16:37 | Resignation | PVP Ventures Limited has informed the Exchange regarding Resignation of Ms Ellen Jane Feehan as Executive Dire |
| PVP | 24 Sep 16:34 | Resignation | PVP Ventures Limited has informed the Exchange regarding Resignation of Ms Ellen Jane Feehan as Chief Executiv |
| QPOWER | 23 Sep 22:58 | Outcome of Board Meeting | Quality Power Electrical Equipments Limited has informed the Exchange regarding Outcome of Board Meeting held |
| RAINBOW | 23 Sep 18:34 | Outcome of Board Meeting | Rainbow Childrens Medicare Limited has informed the Exchange regarding Outcome of Board Meeting held on Septem |
| RELTD | 23 Sep 19:19 | Outcome of Board Meeting | Ravindra Energy Limited has informed the Exchange regarding Outcome of Board Meeting held on September 23, 202 |
| SBFC | 23 Sep 18:44 | Credit Rating | Sbfc Finance Limited has informed the Exchange about Credit Rating |
| SBFC | 23 Sep 18:39 | Credit Rating | Sbfc Finance Limited has informed the Exchange about Credit Rating |
| SCHNEIDER | 21 Sep 14:43 | Credit Rating- Others | Schneider Electric Infrastructure Limited has informed the Exchange about Credit Rating- Others |
| SEAMECLTD | 22 Sep 19:12 | Credit Rating- Revision | Seamec Limited has informed the Exchange about Credit Rating- Revision |
| SGFIN | 22 Sep 14:12 | Credit Rating | SG Finserve Limited has informed the Exchange about Credit Rating |
| SHANTIGOLD | 23 Sep 11:11 | Reply to Clarification- Financial result | The Exchange had sought clarification from Shanti Gold International Limited for the quarter ended 30-Jun-2026 |
| SHAREINDIA | 21 Sep 17:29 | Outcome of Board Meeting | SHAREINDIA: Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, please find attached herewith Outcome |
| SHAREINDIA | 21 Sep 17:29 | Outcome of Board Meeting | Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, please find attached herewith Outcome of Board Mee |
| SIGNATURE | 22 Sep 19:36 | Credit Rating | Signatureglobal (India) Limited has informed the Exchange about Credit Rating |
| SOLARINDS | 23 Sep 18:05 | Credit Rating | Solar Industries India Limited has informed the Exchange about Credit Rating |
| SOLARINDS | 22 Sep 17:26 | Credit Rating | Solar Industries India Limited has informed the Exchange about Credit Rating |
| SPECTRUM | 24 Sep 14:47 | Credit Rating- Revision | Spectrum Electrical Industries Limited has informed the Exchange about Credit Rating- Revision |
| SPECTRUM | 20 Sep 18:05 | Outcome of Board Meeting | Spectrum Electrical Industries Limited has informed the Exchange regarding Outcome of Board Meeting held on Se |
| SUNDRMFAST | 21 Sep 16:32 | Credit Rating | Sundram Fasteners Limited has informed the Exchange about Credit Rating |
| SUPRIYA | 23 Sep 11:04 | Reply to Clarification- Financial result | The Exchange had sought clarification from Supriya Lifescience Limited for the quarter ended 30-Jun-2026 with |
| SURYODAY | 21 Sep 17:25 | Outcome of Board Meeting | Suryoday Small Finance Bank Limited has informed the Exchange regarding Outcome of Board Meeting held on Septe |
| SYMBIOTEC | 21 Sep 19:38 | Outcome of Board Meeting | Symbiotec Pharmalab Limited has informed the Exchange regarding Outcome of Board Meeting held on September 21, |
| SYMBIOTEC | 21 Sep 18:44 | Outcome of Board Meeting | Symbiotec Pharmalab Limited has submitted to the Exchange, the financial results for the period ended Jun 30, |
| THYROCARE | 21 Sep 15:03 | Acquisition | Please find attached intimation regarding Acquisition of Compulsorily Convertible Preference Shares of Trovera |
| TNPL | 22 Sep 12:51 | Credit Rating- New | Tamil Nadu Newsprint & Papers Limited has informed the Exchange about Credit Rating- New |
| TRUALT | 22 Sep 17:24 | Outcome of Board Meeting | TruAlt Bioenergy Limited has informed the Exchange regarding Outcome of Board Meeting held on September 22, 20 |
| VADILALIND | 23 Sep 16:38 | Credit Rating- Others | Vadilal Industries Limited has informed the Exchange about Credit Rating- Others |
| VGL | 21 Sep 19:21 | Resignation of Director/KMP/SMP | VARVEE GLOBAL LIMITED has informed the Exchange about Resignation of Director/KMP/SMP |
| VGL | 21 Sep 19:19 | Resignation of Director/KMP/SMP | VARVEE GLOBAL LIMITED has informed the Exchange about Resignation of Director/KMP/SMP |
| VGL | 21 Sep 18:55 | Outcome of Board Meeting | VARVEE GLOBAL LIMITED has informed the Exchange regarding Outcome of Board Meeting held on September 21, 2026. |
| WAAREEENER | 24 Sep 15:49 | Outcome of Board Meeting | Waaree Energies Limited has informed the Exchange regarding Scheme of Amalgamation of Indosolar Limited with W |
| WAAREEENER | 23 Sep 20:15 | Amalgamation/Merger | Waaree Energies Limited has informed the Exchange about Scheme of Amalgamation of Indosolar Limited with Waare |
| WAAREEENER | 23 Sep 20:10 | Outcome of Board Meeting | Waaree Energies Limited has informed the Exchange regarding Outcome of Board Meeting held on Wednesday, Septem |
| WELENT | 21 Sep 23:29 | Credit Rating | Welspun Enterprises Limited has informed the Exchange about Credit Rating |
| WHEELS | 21 Sep 19:08 | Outcome of Board Meeting | Wheels India Limited has informed the Exchange regarding Outcome of Board Meeting held on September 21, 2026. |
Most filings are housekeeping — meetings, trading windows, newspaper copies. Only the categories that can move a price are flagged. The exchange's own category is kept verbatim rather than mapped onto our vocabulary, so a new one shows up unfamiliar instead of silently becoming 'other'.
This is the source a news search is not: a filing is dated, typed, keyed on the NSE symbol, and legally required. Searching news for RRKABEL the same day returned a festival marketing story twice and a two-month-old AGM notice.
Context only. Nothing reads this as a gate.
| symbol | broker | published | target | upside | call |
|---|---|---|---|---|---|
| APOLLO | ICICI Direct | 2026-09-21 | 485.00 | +21.5% | Buy |
| CENTUM | ICICI Direct | 2026-09-23 | 5,900.00 | +22.0% | Buy |
| IDFCFIRSTB | Motilal Oswal Reco Target | 2026-09-22 | 105.00 | +25.4% | Buy |
| LGEINDIA | BOB Capital Markets Ltd. | 2026-09-22 | 1,980.00 | +16.6% | Buy |
| PINELABS | Motilal Oswal | 2026-09-21 | 250.00 | +39.4% | Buy |
| SOLARINDS | Motilal Oswal Reco Target | 2026-09-21 | 23,000.00 | +18.1% | Buy |
A broker target is published after the move, by a firm with a relationship, and revised toward the price rather than ahead of it. A Hold with a target below the market is the useful case.