JK Tyre & Industries Ltd : A Future Multibagger Stock with 12 Subsidiaries : Mahesh Kaushik Research Report Aug 2022

 1. JK Tyre & Industries Ltd is a small cap automobile tyres and tube company currently traded at 125.60

2. JK Tyre & Industries Ltd is a 2 rupee face value company.

3. JK Tyre & Industries Ltd official website address:- https://www.jktyre.com/ 

4. JK Tyre & Industries Ltd was incorporated as a private limited company in West Bengal on 14th February 1951. Until 31st March 1970, the company was engaged in the managing agency business. Thereafter, the company decided to undertake manufacturing activities and obtained a letter of intent in February 1972 for the manufacture of automobile tyres and tubes.

5. JK Tyre & Industries Ltd has 12 subsidiary companies and in the future when the value of these subsidiaries unlocks the stock has the potential to become a multibagger stock.

6. List of JK Tyre & Industries Ltd subsidiary companies:-

7. JK Tyre & Industries Ltd  is a part of the Nifty Auto index, JK Tyre & Industries Ltd traded at P/E ratio of 18.77 and Nifty Auto traded at P/E 47.82, So Company P/E is less than Sectoral P/E, this is a sign of cheap valuation.

8. Year high of JK Tyre & Industries Ltd  is 171.70 and the Year low is 95.45, Year high/low ratio is stable below  2.

9. Net sale per share of JK Tyre & Industries Ltd is 326.18 so in net sale per share term this stock is a value buy, if you are not read my research terms earlier then read these research terms here:- Research Terms of Mahesh Kaushik

10. Do not underestimate the power of net sale per share watch this 1-minute short video to understand how net sale per share recommendations give multi-bagger returns in the long run:-https://www.youtube.com/shorts/qWbJZNlzLCM

11. Book value of  JK Tyre & Industries Ltd is 102.59 and CMP is 125.60 so the stock traded near his book value.

12. Base price ( 3 Years average price) of JK Tyre & Industries Ltd is 97.66 So CMP 125.90 is 28.24 % above from base price, so as per my book "How to make profit in share market" (Old name The winning theory in stock market both books are same) we are a little bit late but high net sale per share 326.18 suggests we may still buy it.

13. To download 3-year price data, base price, and graph;- Click here

14. JK Tyre is a continuous dividend-paying company here is the history of the company's past dividends:-

SYMBOL	COMPANY NAME	SERIES	PURPOSE	FACE VALUE	EX-DATE	RECORD DATE	BOOK CLOSURE START DATE	BOOK CLOSURE END DATE
JKTYRE	JK Tyre & Industries Limited	EQ	Dividend - Rs 1.50 Per Share	2	18-Aug-2022	-	20-Aug-2022	26-Aug-2022
JKTYRE	JK Tyre & Industries Limited	EQ	Dividend - Rs 2 Per Sh	2	18-Aug-2021	-	21-Aug-2021	27-Aug-2021
JKTYRE	JK Tyre & Industries Limited	EQ	Dividend - Rs 0 .70 Per Share	2	14-Sep-2020	-	16-Sep-2020	22-Sep-2020
JKTYRE	JK Tyre & Industries Limited	EQ	Dividend - Rs 1.50 Per Share	2	06-Aug-2019	-	08-Aug-2019	14-Aug-2019
JKTYRE	JK Tyre & Industries Limited	EQ	Dividend Rs - 1.50 Per Share	2	13-Aug-2018	-	16-Aug-2018	22-Aug-2018
JKTYRE	JK Tyre & Industries Limited	EQ	Annual General Meeting/Dividend - Rs 2.50 Per Share	2	27-Jul-2017	-	29-Jul-2017	04-Aug-2017
JKTYRE	JK Tyre & Industries Limited	EQ	Annual General Meeting And Dividend Rs.2.50 Per Share	2	25-Aug-2016	-	27-Aug-2016	02-Sep-2016
JKTYRE	JK Tyre & Industries Limited	EQ	Annual General Meeting/ Dividend - Rs 1.50/- Per Share	2	14-Sep-2015	-	16-Sep-2015	22-Sep-2015
JKTYRE	JK Tyre & Industries Limited	EQ	Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share	2	18-Dec-2014	19-Dec-2014	-	-
JKTYRE	JK Tyre & Industries Limited	EQ	Annual General Meeting/ Dividend - Rs 5/- Per Share / Annual Closure	2	15-Sep-2014	-	17-Sep-2014	25-Sep-2014
JKTYRE	JK Tyre & Industries Limited	EQ	Annual General Meeting And Dividend Rs.3.50 Per Share	2	01-Aug-2013	-	05-Aug-2013	14-Aug-2013
JKTYRE	JK Tyre & Industries Limited	EQ	Annual General Meeting/ Dividend Rs. 2.50 Per Share	2	19-Jul-2012	-	23-Jul-2012	30-Jul-2012
JKTYRE	JK Tyre & Industries Limited	EQ	Annual General Meeting And Dividend Rs.3/- Per Share	2	22-Jul-2011	-	26-Jul-2011	29-Jul-2011
JKTYRE	JK Tyre & Industries Limited	EQ	Annual General Meeting And Dividend Rs.3.50 Per Share	2	05-Aug-2010	-	09-Aug-2010	14-Aug-2010
JKTYRE	JK Tyre & Industries Limited	EQ	An Bk Clr/Div-Rs2.70 P Sh	2	20-Aug-2009	-	24-Aug-2009	31-Aug-2009
JKTYRE	JK Tyre & Industries Limited	EQ	Rights-Eq 1:3@Prem Rs 75	2	07-Jul-2008	14-Jul-2008	-	-
JKTYRE	JK Tyre & Industries Limited	EQ	Agm/Dividend - 27%	2	24-Mar-2008	-	26-Mar-2008	26-Mar-2008
JKTYRE	JK Tyre & Industries Limited	EQ	Agm/Dividend-25%	2	22-Mar-2007	-	26-Mar-2007	28-Mar-2007

15. See the latest financial results here:-https://www.bseindia.com/stock-share-price/jk-tyre--industries-ltd/jktyre/530007/financials-results/

16.  I recommended buying it with my STP method and the STP price for 1Aug 2022 to 15 Aug 2022 is 135.50, In the STP method buy our target is 25% plus.

17. Promoters of JK Tyre & Industries Ltd hold 56.26 % shares and no any share pledged by promoters.

17. For more details of the STP method watch this video:-https://youtu.be/gREpTaV50bA

 (Watch this video for automated STP price google sheet:-(https://www.youtube.com/watch?v=dpow44oGVY4)

14. Link of my Earlier STP recommendations:- 

https://docs.google.com/spreadsheets/d/1ZWtF5z718RkLoz7QMIwtsOa4oXpP0dnHCVOlcSqFyaQ/edit?usp=sharing

15. Link of my books:- https://amzn.to/3IRNRHo

16. Disclaimer:- This is not an advisory service to buy or sell. The contents of “this research report” are only for educational purposes. No liability is accepted for any content in “this research report”. The author is neither a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index, or any other financial instrument at any time. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions. Please read the full disclaimer at the bottom of my blog. 

 17. Discloser:- I Mahesh Chander Kaushik author of this research report is an existing research analyst and passed NISM certification for research analysts. I have also registered under SEBI(RESEARCH ANALYSTS) REGULATIONS, 2014 ( SEBI Registration Number INH 100000908 ) hereby disclose my financial interest in the subject company and the nature of such financial interest:- 1 Me and my associates or relatives not hold anyshares of JK Tyre & Industries Ltd  so my personal interest is not included in this stock. 2. Me and my associates or relatives have not any actual/beneficial ownership of one percent or more securities of the subject company (JK Tyre & Industries Ltd ). 3. Me and my associates or relatives have not any other material conflict of interest at the time of publication of the research report. 4. Me and my associates and relatives have not received any type of compensation from the subject company(JK Tyre & Industries Ltd ) in the past twelve months. 5. I am not served as an officer, director, or employee of the subject company ( JK Tyre & Industries Ltd ). 6. I have been not engaged in the market-making activity for the subject company (JK Tyre & Industries Ltd ).

Rail Vikas Nigam Limited (RVNL) Catagory 1 Mini Ratna Company for STP Buy 1 Aug 2022 Recommendation Mahesh Kaushik

1. Rail Vikas Nigam Limited is a category I mini ratna CPSE company.

2. Rail Vikas Nigam Limited (RVNL) is a 10 rupee face value Engineering Designing & Construction company.

3. RVNL official website address:- https://rvnl.org/home 

4. RVNL was incorporated as PSU on 24.01.2003.

5. The company began its operation in 2005 with the appointment of the Board of Directors. The company was granted Miniratna status in September 2013.

6. Wikipedia link about RVNL:-https://en.wikipedia.org/wiki/Rail_Vikas_Nigam

7. RVNL  March 2022 net profit is 37201 Lakhs.

8. Year high of RVNL is 44.80 and the Year low is 27.80, Year high/low ratio is stable below  2.

9. Net sale per share of RVNL is 92.96 so in net sale per share term this stock is a value buy, if you are not read my research terms earlier then read these research terms here:- Research Terms of Mahesh Kaushik

10. Do not underestimate the power of net sale per share watch this 1-minute short video to understand how net sale per share recommendations give multi-bagger returns in the long run:-https://www.youtube.com/shorts/qWbJZNlzLCM

11. Book value of  RVNL is 27.01 and CMP is 31so the stock traded near his book value.

12. Base price ( 3 Years average price) of Rail Vikas Nigam Limited (RVNL) is 26.91 So CMP 31 is 15.19 % above from base price, this is as per my book "How to make profit in share market" (Old name The winning theory in stock market both books are same).

13. For download 3-year price data, base price, and graph;- Click here

14. On 24 March 2022 RVNL gives 1.58 rupees per share intrim dividend.

15. See the latest financial results here:-https://www.bseindia.com/stock-share-price/rail-vikas-nigam-ltd/rvnl/542649/financials-results/

16.  I recommended buying it with my STP method and the STP price for 16 July 2022 to 31 July 2022 is 31.85, In the STP method buy our target is 25% plus.

13. For more details of the STP method watch this video:-https://youtu.be/gREpTaV50bA

 (Watch this video for automated STP price google sheet:-(https://www.youtube.com/watch?v=dpow44oGVY4)

14. Link of my Earlier STP recommendations:- 

https://docs.google.com/spreadsheets/d/1ZWtF5z718RkLoz7QMIwtsOa4oXpP0dnHCVOlcSqFyaQ/edit?usp=sharing

15. Link of my books:- https://amzn.to/3IRNRHo

16. Disclaimer:- This is not an advisory service to buy or sell. The contents of “this research report” are only for educational purposes. No liability is accepted for any content in “this research report”. The author is neither a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index, or any other financial instrument at any time. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions. Please read the full disclaimer at the bottom of my blog. 

 17. Discloser:- I Mahesh Chander Kaushik author of this research report is an existing research analyst and passed NISM certification for research analysts. I have also registered under SEBI(RESEARCH ANALYSTS) REGULATIONS, 2014 ( SEBI Registration Number INH 100000908 ) hereby disclose my financial interest in the subject company and the nature of such financial interest:- 1 Me and my associates or relatives do not hold any share of RVNL so my personal interest is not included in this stock. 2. Me and my associates or relatives have not any actual/beneficial ownership of one percent or more securities of the subject company (RVNL). 3. Me and my associates or relatives have not any other material conflict of interest at the time of publication of the research report. 4. Me and my associates and relatives have not received any type of compensation from the subject company(RVNL) in the past twelve months. 5. I am not served as an officer, director, or employee of the subject company ( RVNL ). 6. I have been not engaged in the market-making activity for the subject company (RVNL).

The New India Assurance Co Ltd (NIACL) : Mahesh Kaushik STP Recommendation 15 July 2022 For STP Method SEBI Registered Research Analyst Stock Recommendation

1. The New India Assurance Co Ltd (NIACL) is an Indian premier multinational insurance company.

2. The New India Assurance Co Ltd (NIACL) is a 5 rupee face value company with an international presence in 28 countries.

NIACL RESEARCH REPORT

3. NIACL official website address:- https://www.newindia.co.in/portal/

4. The New India Assurance Co Ltd (NIACL) was founded by Sir Dorabji Tata in 1919, in 1973 this company is nationalized, and currently the government of India owns this company as PSU. The company's global business crossed Rs. 33046.41 crores in March 2022.

5. NIACL has been the market leader in India in the non-life business for more than 50 years.

6. NIACL rated B++ Stable,  FSR Rating and bbb+ Stable ICR Outlook by AM BEST Company. The company has been rated AAA/Stable by CRISIL since 2014, indicating that the Company has the highest degree of Financial Strength to honor its Policyholder's obligations.

7. NIACL Indian operations span across all territories through 2214 offices, company has 15249 employees and 1,02,804 agents as on 31st March 2021, the company has over 250 products.

8. Year high of NIACL is 178.40 and the Year low is 78.15, Year high/low ratio is not stable below 2 but here we buy it with the STP method so during our STP method buying it will be stable below 2.

9. Net sale per share of NIACL is 175.40 so in net sale per share term this stock is a value buy, if you are not read my research terms earlier then read these research terms here:- Research Terms of Mahesh Kaushik

10. Do not underestimate the power of net sale per share watch this 1-minute short video to understand how net sale per share recommendations give multi-bagger returns in the long run:-https://www.youtube.com/shorts/qWbJZNlzLCM

11. Book value of  NIACL is 115.61 and CMP is 80.25 so in book value terms this is a value buy. But do not run for a quick lump sum buy please use the STP method for more than a 25% return target.

12. Base price ( 3 Years average price) of The New India Assurance Co Ltd is 131.54 So CMP 79.95 is 39.22 % below from base price, I knew in my book ( How to make profit in share market old name The winning theory in stock market both books are same) I recommended to buy a share when it crosses his base price but here we do not worry because we use STP method for buying.

13. For download 3-year price data, base price, and graph;- Click here

14. NIACL declares 0.30 rupees par share dividend, record date not declared yet.

15. See the latest financial results here:-https://www.bseindia.com/stock-share-price/the-new-india-assurance-company-ltd/niacl/540769/financials-results-special/

16.  I recommended buying it with my STP method and the STP price for 1 July 2022 to 15 July 2022 is 84.75, In the STP method buy our target is 25% plus.

13. For more details of the STP method watch this video:-https://youtu.be/gREpTaV50bA

 (Watch this video for automated STP price google sheet:-(https://www.youtube.com/watch?v=dpow44oGVY4)

14. Link of my Earlier STP recommendations:- 

https://docs.google.com/spreadsheets/d/1ZWtF5z718RkLoz7QMIwtsOa4oXpP0dnHCVOlcSqFyaQ/edit?usp=sharing

15. Link of my books:- https://amzn.to/3IRNRHo

16. Disclaimer:- This is not an advisory service to buy or sell. The contents of “this research report” are only for educational purposes. No liability is accepted for any content in “this research report”. The author is neither a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index, or any other financial instrument at any time. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions. Please read the full disclaimer at the bottom of my blog. 

 17. Discloser:- I Mahesh Chander Kaushik author of this research report is an existing research analyst and passed NISM certification for research analysts. I have also registered under SEBI(RESEARCH ANALYSTS) REGULATIONS, 2014 ( SEBI Registration Number INH 100000908 ) hereby disclose my financial interest in the subject company and the nature of such financial interest:- 1 Me and my associates or relatives hold 103 shares of NIACL so my personal interest is included in this stock. 2. Me and my associates or relatives have not any actual/beneficial ownership of one percent or more securities of the subject company (NIACL). 3. Me and my associates or relatives have not any other material conflict of interest at the time of publication of the research report. 4. Me and my associates and relatives have not received any type of compensation from the subject company(NIACL) in the past twelve months. 5. I am not served as an officer, director, or employee of the subject company ( NIACL ). 6. I have been not engaged in the market-making activity for the subject company (NIACL).

Power Finance Corporation : PFC The Hidden Gem in PSU Companies

 Respected Readers,

Today I tell you a PSU stock that has 20+ Subsidiaries and the stock has enough potential to become a future multi-bagger if the value of subsidiaries is unlocked.

1. Power Finance Corporation or PFC is a 10 rupee face value public sector maharatna company

2. Book Value of the Power Finance Corporation is 207.06 so at the Current price of 121.50, PFC is a value buy.

3. PFC Net Sale par share is 142.97 which is higher than the current market price.

4. If you are a new reader and have not familiar with my research terms then please first visit this link for research terms:- Mahesh Kaushik Research Terms.

5. Power Finance Corporation included in Nifty Financial Sector Index and Nifty Financial Sector Index P/E is 22.92 but PFC traded at 3.20 P/E which is near about 7 times lower than index P/E.That's Great!

6. Base price of the PFC is 112.74, So CMP is near 5% higher than the base price. 

7. For Base price calculation download the last 3 years price history and graph from this link:-

3 Years Price Data and Graph 

3 Year Price Data and Graph

8. पीएफसी/पीएफसी कंसल्टिंग की सहायक कंपनियों की वार्षिक रिपोर्टें

वित्तीय वर्ष	सहायक कंपनियां
2019-2020	आरईसी वार्षिक रिपोर्ट (21 MB) आरईसी वेबसाइट: www.recindia.nic.in
	बिहार इंफ्रापावर लिमिटेड
	बिहार मेगा पावर लिमिटेड
	बीजावर-विदर्भ ट्रांसमिशन लिमिटेड
	चेय्युर इंफ्रा लिमिटेड
	छत्तीसगढ़ सुरगुजा पावर लिमिटेड
	कोस्टल कर्नाटक पावर लिमिटेड
	कोस्टल महाराष्ट्र मेगा पावर लिमिटेड
	कोस्टल तमिल नाडू पावर लिमिटेड
	देवघर मेगा पावर लिमिटेड
	देवघर इंफ्रा लिमिटेड
	घोगरपल्ली एकीकृत पावर कंपनी लिमिटेड
	झारखंड इंफ्रापावर लिमिटेड
	करूर ट्रांसमिशन लिमिटेड
	कोप्पल नरेंद्र ट्रांसमिशन लिमिटेड
	ओड़ीशा इंफ्रापावर लिमिटेड
	ओड़ीशा एकीकृत पावर लिमिटेड
	सखीगोपाल एकीकृत विद्युत कंपनी लिमिटेड
	शॉगटाँग करचम-वांगटू ट्रांसमिशन लिमिटेड
	टांडा ट्रांसमिशन कंपनी लिमिटेड
	तातिया आंध्रा मेगा पावर लिमिटेड
2018-2019
	आरईसी वार्षिक रिपोर्ट (130 KB) आरईसी वेबसाइट: www.recindia.nic.in
	ईईएसएल वार्षिक रिपोर्ट(130 KB) ईईएसएल वेबसाइट: www.eeslindia.org
	समेकित पीएफ़सी कंसल्टिंग लिमिटेड (2 MB)
	एकल पीएफ़सी कंसल्टिंग लिमिटेड (3 MB)
	सखीगोपाल एकीकृत विद्युत कंपनी लिमिटेड (1 MB)
	झारखंड इंफ्रापावर लिमिटेड (582 KB)
	घोगरपल्ली एकीकृत पावर कंपनी लिमिटेड (549 KB)
	बीजावर-विदर्भ ट्रांसमिशन लिमिटेड (985 KB)
	शॉगटाँग करचम-वांगटू ट्रांसमिशन लिमिटेड (448 KB)
	टांडा ट्रांसमिशन कंपनी लिमिटेड (1 MB)
	कोस्टल कर्नाटक पावर लिमिटेड (826 KB)
	वापी II-लखीमपुर ट्रांसमिशन लिमिटेड (1 MB)
	ओड़ीशा एकीकृत पावर लिमिटेड (1 MB)
	छत्तीसगढ़ सुरगुजा पावर लिमिटेड (961 KB)
	कोस्टल महाराष्ट्र मेगा पावर लिमिटेड (831 KB)
	कोस्टल तमिल नाडू पावर लिमिटेड (926 KB)
	ओड़ीशा इंफ्रापावर लिमिटेड (717 KB)
	चेय्युर इंफ्रा लिमिटेड (721 KB)
	तातिया आंध्रा मेगा पावर लिमिटेड (784 KB)
	बिहार इंफ्रापावर लिमिटेड (772 KB)
	बिहार मेगा पावर लिमिटेड (857 KB)
	देवघर इंफ्रा लिमिटेड (792 KB)
	देवघर मेगा पावर लिमिटेड (880 KB)
2017-2018
	संशोधित सूचना के साथ पीएफसीसीएल वार्षिक रिपोर्ट(130 KB)
	पीएफसीसीएएस वार्षिक रिपोर्ट(130 KB)
	घोगरपल्ली इंटीग्रेटेड पावर कंपनी लिमिटेड(130 KB)
	सखीगोपाल इंटीग्रेटेड पावर कंपनी लिमिटेड(130 KB)
	झारखंड इंफ्रापावर लिमिटेड(130 KB)
	साउथ-सेंट्रल ईस्ट दिल्ली पावर ट्रांसमिशन लिमिटेड(130 KB)
	बीजावर-विदर्भ ट्रांसमिशन लिमिटेड(130 KB)
	सोंगटोंग करचम-वंगटू ट्रांसमिशन लिमिटेड(130 KB)
	टांडा ट्रांसमिशन कंपनी लिमिटेड(130 KB)
	मोहिंदरगढ़-भिवानी ट्रांसमिशन लिमिटेड(130 KB)
	बल्लभगढ़-जीएन ट्रांसमिशन कंपनी लिमिटेड(130 KB)
	ओड़ीसा इंटीग्रेटेड पावर लिमिटेड(130 KB)
	छत्तीसगढ़ सुरगुजा पावर लिमिटेड(130 KB)
	कोस्टल महाराष्ट्र मेगा पावर लिमिटेड(130 KB)
	कोस्टल तमिलनाडु पावर लिमिटेड(130 KB)
	ओडिशा इंफ्रापावर लिमिटेड(130 KB)
	चेय्युर इंफ्रा लिमिटेड(130 KB)
	तातिया आंध्रा मेगा पावर लिमिटेड(130 KB)
	बिहार इंफ्रापावर लिमिटेड(130 KB)
	बिहार मेगा पावर लिमिटेड(130 KB)
	देवघर इंफ्रा लिमिटेड(130 KB)
	देवघर मेगा पावर लिमिटेड(130 KB)
	कोस्टल कर्नाटक पावर लिमिटेड(130 KB)

9. In 2021 PFC give a total of 14.75 rupees per share dividend which is nice and able to cover the interest rate.

10. In Point no 8 You may notice PFC has many subsidiaries companies. when the value of these subsidiaries unlocks then you may assume what is the future valuation of this  PSU Mataratna Company.

11. Year high=153.75 Year low =104.10 So year high/ low ratio is below 2.

12. I recommended buying it with my STP method and the STP price for 1 Feb 2022 to 15 Feb 2022 is 128.15, In the STP method buy our target is 25% plus.

13. For more details of the STP method watch this video:-https://youtu.be/gREpTaV50bA

Watch this video to know how to make a google automated sheet for auto calculation of base price:-

14. Link of my Earlier STP recommendations:- 

https://docs.google.com/spreadsheets/d/1ZWtF5z718RkLoz7QMIwtsOa4oXpP0dnHCVOlcSqFyaQ/edit?usp=sharing

15. Link of my books:- https://amzn.to/3IRNRHo

16. Disclaimer:- This is not an advisory service to buy or sell. The contents of “this research report” are only for educational purposes. No liability is accepted for any content in “this research report”. The author is neither a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index, or any other financial instrument at any time. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions. Please read the full disclaimer at the bottom of my blog. 

 17. Discloser:- I Mahesh Chander Kaushik author of this research report is an existing research analyst and passed NISM certification for research analysts. I have also registered under SEBI(RESEARCH ANALYSTS) REGULATIONS, 2014 ( SEBI Registration Number INH 100000908 ) hereby disclose my financial interest in the subject company and the nature of such financial interest:- 1 Me and my associates or relatives have not to hold any share of PFC so my personal interest is not included in this stock. 2. Me and my associates or relatives have not any actual/beneficial ownership of one percent or more securities of the subject company (PFC ). 3. Me and my associates or relatives have not any other material conflict of interest at the time of publication of the research report. 4. Me and my associates and relatives have not received any type of compensation from the subject company(PFC) in the past twelve months. 5. I am not served as an officer, director, or employee of the subject company ( PFC ). 6. I have been not engaged in the market-making activity for the subject company (PFC).