Recommendation from Glass & Glass Products and Software Sector

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.

BOROSIL RENEWABLES LTD
CMP - ₹464.15
BSE CODE 502219
Volume 11,558
Face Value ₹1
Target ₹540 - 570
Stoploss ₹442 (CLS)

Borosil Renewables Ltd, a division of the Borosil Group, stands as India's sole pioneer in solar glass production. The primary offerings of the company encompass Selene, an anti-glare solar glass designed for photovoltaic installations close to airports; Shakti, a highly efficient solar glass with a matte finish; and solar glass featuring an anti-soiling coating. Assessing the financial performance of the company on a consolidated basis, it reflected a robust growth of 137 per cent from ₹169.26 crore in Q2FY23, reporting a total revenue of ₹401.66 crore in Q2FY24. In addition, the net profit witnessed a notable rise of 24 per cent, reaching ₹30.01 crore, compared to ₹24.19 crore in the corresponding quarter of the previous year. Currently boasting a solar glass manufacturing capacity of 450 TPD, the company is actively pursuing its next phase of expansion in India, aiming to augment its capacity by an additional 550 TPD. Given the robust financial performance, appealing expansion strategies, and positive momentum reflected in heightened buying interest, we recommend BUY.

Ksolves India Ltd
CMP - ₹1,314.45
BSE CODE 543599
Volume 3,082
Face Value ₹10
Target ₹1,440 - 1,480
Stoploss ₹1,220 (CLS)

Renowned in the industry as a 360-degree software solution provider, it specializes in a wide range of areas, including Big Data, Data Science (Artificial Intelligence and Machine Learning), Salesforce, DevOps, Java and Microservices, OpenShift, Penetration Testing, and more. With a proven track record, the company has effectively catered to clients across numerous countries, utilizing the expertise of its more than 450 in-house technology professionals. Examining the company's financial performance on a consolidated basis reveals a substantial 40 per cent growth in revenue, surging from ₹18.50 crore in Q2FY23 to a total revenue of ₹25.98 crore in Q2FY24. Furthermore, the net profit exhibited a significant increase of 39 per cent, reaching ₹8.23 crore, compared to the corresponding quarter of the previous year, where it stood at ₹5.92 crore. The shares have experienced a strong rally, providing investors with multibagger returns exceeding 200 per cent in the past year. Given its 52-week high of ₹1,447 on the BSE, there is potential for further growth in the stock. Hence, we recommend BUY.