Recommendation from Finance - Stock Broking and Diamond & Jewellery Sectors

The scrips in this column have been recommended with a 15-day investment horizon in mind and carry high risk. Therefore, investors are advised to take into account their risk appetite before investing, as fundamentals may or may not back the recommendations.

SHARE INDIA SECURITIES LTD
CMP - ₹1,877.75
BSE CODE 540725
Volume 11,132
Face Value ₹10
Target ₹2,000 - ₹2,040
Stoploss ₹1,770 (CLS)

Being a leading provider of algorithmic trading solutions, the financial services company utilizes technology to deliver customised tech-based solutions in the capital markets. While currently focusing on the high net-worth individual (HNI) segment, it aims to expand its reach to the retail segment to serve the needs of new-age investors. Assessing the financial performance of the company on a consolidated basis, it reflected a strong growth of 52.62 per cent from ₹240.06 crore in Q2FY23, reporting a total revenue of ₹366.38 crore in Q2FY24. The net profit witnessed a significant growth of over 56 per cent, reaching ₹112.63 crore, compared to ₹72.06 crore in the corresponding quarter of the last year. There has been increased buying interest in the shares due to the upcoming consideration of the declaration of the third interim dividend for equity shareholders by the board. Therefore, given the potential for upward growth, we recommend BUY.

Vaibhav Global Ltd
CMP - ₹505.85
BSE CODE 532156
Volume 72,245
Face Value ₹2
Target ₹589 - ₹635
Stoploss ₹430 (CLS)

The company operates as a vertically integrated fashion retailer, maintaining a multi-channel presence across well-integrated platforms. Its reputation is built on a superior customer value proposition, achieved through cost-effective manufacturing and quality products. The sourcing network is consistently enhanced, reaching over 30 countries worldwide to secure the best products. With a highly differentiated model, the company serves the retail sector in two of the world's largest economies including the US and the UK. When evaluating the financial performance of the company on a consolidated basis, there was a notable revenue growth of 9 per cent, increasing from ₹646 crore in Q2FY23 to report a total revenue of ₹705 crore in Q2FY24. The net profit also experienced a substantial gain of over 26 per cent, reaching ₹29.03 crore, as compared to ₹23.04 crore in the corresponding quarter of the previous year. The shares have demonstrated a robust uptrend, recording a 25 per cent gain year-to-date and reaching consecutive 52-week highs. Given the evident strong investor demand, we recommend BUY.