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Newgen Software Technologies is a software products company which offers a platform that enables organisations to rapidly develop powerful applications addressing their strategic business needs. The applications created on its platform enable organisations to drive digital transformation and competitive differentiation. The company’s customers use its platform to rapidly design, build and implement enterprise-grade custom applications through its intuitive, visual interface with minimal coding. It has expanded its addressable market by developing solution frameworks in key verticals, including banking, government and PSU, BPO and IT, healthcare and insurance. During the recent financial quarter of FY24, the company delivered net revenue of ₹ 323.65 crore during Q3FY24, which is an increase of 27 per cent YoY as compared to ₹254.92 crore in Q3FY24. The net profit of the company stood at ₹68.35 crore, which has also grown substantially by 44.5 per cent on YoY basis. The PAT margin stood at 23.80 per cent in Q3FY24 whereas in Q3FY24 it was 23.10 per cent. The company’s recent financial performance paints a positive picture. Rising sales and net profits bode well for its future growth. Additionally, improved margins reveal an increase in profitability, further highlighting the company’s potential. Hence, we recommend HOLD 

Infosys Ltd. provides consulting, technology, outsourcing and next-generation digital services. It is the second-largest IT in India, closely behind TCS. According to the financials, the company reported positive numbers in its Quarterly Results (Q3FY24), half-yearly results (H1FY24), nine-month results (9MFY24) and annual results (FY23). With 10 years of proven growth and financial stability, the company is poised for further success in the years to come. Trading at a PE ratio of 27.7 times compared to its industry average of 30.9 times, Infosys appears undervalued despite strong quarterly results and a promising future outlook. The company’s shares have an ROE of 32 per cent and an ROCE of 40.7 per cent. Infosys persevered through a mixed Q3, achieving slight overall growth for the first nine months despite facing a flat quarter and cautious spending in certain sectors. The company’s resilience stemmed from strong performance in large deals and free cash flow, leading to a revised and slightly reduced revenue guidance of 1.5 to 2 per cent for FY24. Encouragingly, Infosys maintains its focus on strategic investments in cutting-edge technologies like generative AI and cloud solutions, alongside prioritising the human experience. This commitment to innovation and talent development positions Infosys for sustained growth in the evolving technological landscape. Hence, we recommend BUY. 

Rattan India Enterprises Limited is the flagship company of Rattan India Group. The company comprises technology-focussed new-age businesses, including e-commerce, electric vehicles, fintech and drones. It has diversified across four major segments: Cocoblu’s online marketplace, Neobrand’s B2B fashion apparel, Revolt’s electric motorcycles, and Neotec’s digital lending platform ‘Win’ with recent expansions into insurance broking and NeoSky’s drone products and pilot training services. According to the quarterly results, the company’s net sales increased 18.6 per cent to ₹1,394.24 crore.

Its operating profit increased by 91.7 per cent to ₹225.34 crore, and net profit increased by 34.5 per cent to ₹140.48 crore in Q2FY24 compared to Q2FY23. In its half-yearly results, the net sales increased by 42.7 per cent to ₹2,661.84 crore in H1FY24 compared to H1FY23. The company reported an operating profit of ₹431.56 crore and a net profit of ₹318.61 crore in H1FY23 compared to an operating loss of `87.70 crore and a net loss of `108.02 crore in H1FY23. The services sector is not only a dominant sector in India’s GDP but has also attracted significant foreign investment and has contributed significantly to exports while providing large-scale employment.

Services exports are projected to set a new record of USD 322.72 billion with a compound annual growth rate of 26.79 per cent during FY23 as compared to FY22. The Government of India has recognised the importance of promoting growth in the services sector and provides several incentives across a wide variety of sectors like healthcare, tourism, education, engineering, communications, transportation, information technology, banking, and finance and management, among others. The 68 per cent gain since your purchase suggests significant momentum and potential for further growth. Given the long-term potential of the company’s various verticals, we recommend HOLD. 

Suzlon Group stands as a prominent provider of renewable energy solutions with a worldwide presence spanning 17 countries across Asia, Australia, Europe, Africa, and the Americas. Since its establishment in 1995, Suzlon Energy has emerged as a trailblazer in the wind energy sector, installing over 12,780 wind turbines across six continents. The company offers a comprehensive array of wind energy solutions, encompassing wind turbine generators (WTGs), towers, blades, and nacelles. In the latest quarterly report, there was a 7.03 per cent increase in net sales to ₹1,560.47 crore, while the net profit surged by 159.38 per cent to ₹203.04 crore in Q3FY24 as compared to Q3FY23. In the nine-month results, net sales increased by 1.43 per cent to ₹4,317.64 crore in 9MFY24 over 9MFY23.

Suzlon Energy reported a net profit of ₹406.23 crore in 9MFY24 compared to a net profit of ₹2,567.30 crore in 9MFY23, a decrease of 84.2 per cent. As of December 2023, foreign institutional investors (FIIs) have increased their stake from 10.88 per cent to 17.83 per cent and domestic institutional investors (DIIs) have decreased their stake from 9.81 per cent to 6.16 per cent. CRISIL has upgraded Suzlon Energy’s ratings to CRISIL BBB+ | A 2 with a positive outlook, attributing it to the company’s strengthened financial position, operational excellence, and favourable industry trends.

The company’s order book continues to climb, stands at 3,157 MW following a series of successful bids. Positioned as a global leader in renewable energy solutions, Suzlon Energy is dedicated to playing a pivotal role in the transition to a sustainable future. The company is poised to capitalise on the robust growth in the Indian wind energy sector, boasting a strong product portfolio, improving financial performance, and a positive outlook from rating agencies. If your goal is shortterm profit and you are happy with the current return, then selling now might be a good option. However, if you were aiming for long-term growth, we recommend HOLD. 




Uniparts India Limited (UIL), founded in 1994, is a global manufacturer and supplier of engineered systems and solutions. The company’s main products include three-point linkage assemblies, precision machined parts, hydraulic cylinders, power take-off devices, and fabrication parts for the agriculture and construction sectors. UIL has six manufacturing units in India and one in the US, equipped with forging, machining, heat treatment, welding, and other capabilities.

New infrastructure build-up and old infrastructure redevelopment is high on priority for several countries in the quest for growth, self-reliance, economic leadership, and improved quality of life for residents.

The company is focused on tracking and analysing external and internal factors to identify new business opportunities, improve operational efficiency and optimise costs. In Q2FY24, the company reported consolidated revenue of ₹293.68 crore, which dropped by 18 per cent YoY compared to ₹359.76 crore from the previous year’s corresponding quarter, while sequentially it has remained almost flat. Its PBIDT excluding other income declined to ₹53.61 crore, which was ₹79.62 crore during the previous year’s same quarter, while sequentially it decreased by around 8 per cent. Its net profit stood at ₹33 crore compared to ₹37 crore during the last quarter while during the corresponding quarter of last year it was at ₹52 crore. The company has recently received an order of supplying construction equipment to an international client. The stock is fairly valued. Its current PE ratio of 15.5 times is close to its three-year median PE whereas the same is significantly lower than the industry average of 38 times. This is further bolstered by the company's position as a leading supplier of critical component solutions and the rising demand for construction machinery. Hence, we recommend BUY. 

Talbros Automotive Components, the flagship manufacturing company of the Talbros Group, was established in 1956 to manufacture automotive and industrial gaskets. Their research and development centres showcase their design capabilities including endurance, static and simulated environment testing.

Today, the company’s manufacturing prowess spans over six businesses and 12 facilities. The largest OEMs like Ashok Leyland, Bajaj Auto, Cummins Group, Eicher India, Force Motors, Hero Honda, Honda, Hyundai, Mahindra and Mahindra, Maruti Suzuki, Suzuki, Tata Motors, Tata Cummins, Simpsons. The company has two main business segments: gaskets and forgings. In the gasket business, the company has a 40 per cent market share with a single source supplier for five of its customers.

The company is a market leader in the two-wheeler, agriculture and off-loaders, and HCV and LCV segments. In the forging business, the company has a strong presence in overseas markets and is a supplier to top-tier companies. The company has already started supplying against an order received from a European OEM. If we look at the recently posted numbers, the company delivered net revenue of ₹194.03 crore during Q2FY24, which is an increase of 21 per cent YoY. It was ₹162.17 crore in Q2FY24. On a QoQ basis, the revenue increased by around 6 per cent. The net profit of the company stood at `16.04 crore, which grew by 59 per cent on a YoY basis while on QoQ basis the net profit increased by around 23 per cent, which was ₹13.97 crore in Q2FY24. The company’s Q2FY24 financial results were impressive, indicating strong revenue growth. It has secured orders of over ₹1,000 from both domestic and overseas customers for key components like gaskets, heat shields and forgings, strengthening its position in the automotive sector. It aims to increase its market share and customer base for the next five years. Hence, we recommend HOLD.