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Daily Analysis on ASIANPAINTS

Technical Analysis (Daily Chart Highlights) Strong Rally: Asian Paints surged 2.3% today, closing at ₹2,587.40—a notable buying wave. Momentum Signals: MACD shows bullish crossover with a rising histogram—momentum is strong. RSI reached 72—indicating overbought but still trending upward. Support & Resistance: Immediate support: ₹2,509 / ₹2,429 Near-term resistance: ₹2,603.60 breakout would strengthen bullish bias. Why the Buying Spree Today? Improving Volumes: Volume surged alongside price—classic signal of strong accumulation. Sector Strengthening: Urban paint demand held up well in Q1 despite monsoon, easing initial concerns. Brokerage Confidence: Jefferies upgraded Asian Paints to 'Buy' with a ₹2,830 target—~14% upside from here. Technical Buy Trigger: Overcoming consolidation zone and key moving averages attracted technical buyers. Seasonal Demand: Optimism for higher festive demand → anticipation of price hikes and volume recovery. Q1 FY26 performance: Revenue steady at ₹8,924 crore (−0.2% YoY), PAT down 6% to ₹1,100 crore, But volume grew 4% with stable profitability—paint demand remained resilient. Upcoming Events & Their Potential Impact Next Earnings: Q2 FY26 results likely in late October—expect clarity on market demand resurgence. Sector Cues: Global peer earnings (e.g., Akzo Nobel, PPG, Kansai) due late August → may influence sector sentiment. Seasonal Demand: Strong monsoon → lower painting activity; festive demand → strong tailwinds upcoming. Outlook & Projections Near Term (1–2 weeks): Bullish if price holds above ₹2,580–2,600. Pullback likely toward ₹2,500 if RSI cooling and profit booking occurs. Technical View As seen in the daily chart of Asian Paints, the stock has been consistently forming higher highs and higher lows, indicating a strong bullish structure. Today, the stock opened at ₹2550.00, made a low of ₹2537.10, a high of ₹2593.90, and finally closed at ₹2587.40, showcasing strong buying momentum. On the daily chart, Asian Paints is holding firmly above the ₹2500 support zone, which is acting as a strong base for the current uptrend. If the stock continues to sustain this rally, we may expect further upside in the medium term, with potential targets around ₹2650–₹2660. Risk: Tight levels may attract short covering, but overbought reading warns of consolidation. Disclaimer & Disclosure This is for information only, not investment advice. Market actions carry risk. We have no holdings in Asian Paints. Please consult your SEBI-registered financial advisor before making decisions. For More Info: Visit Us- www.investogainerresearch.com Call Us- 9009099805, 9098804206 Email Us- info@investogainerresearch.com

Weekly View on JUSTDIAL

JUST DIAL – Weekly Analysis Technical View The stock is currently trading near ₹820.75, close to its recent lows. Support Levels: ₹810 – ₹800 (immediate), ₹770 (major). Resistance Levels: ₹850 – ₹870 (immediate), ₹920 (major). Trend: Weak structure, stock consistently making lower highs & lower lows. RSI (14): 39 → Near oversold zone, indicating weakness but possible bounce from support. MACD: Negative, showing selling pressure. Stock is trading below 20, 50, 100 EMA, indicating continued bearish trend. Short-term weakness persists unless stock sustains above ₹850. Fundamental View JUST DIAL, now part of Reliance Retail (via Jio Platforms), is focusing on strengthening its digital business and SME listings. Strong cash reserves and debt-free balance sheet provide comfort. Revenue growth has been modest; profits depend heavily on advertising demand from SMEs. Being in a digital + local search business, competition from new-age platforms impacts growth visibility. Micro View (Company-specific) Integration with Reliance ecosystem (JioMart, Reliance Retail) is expected to boost long-term positioning. Current price pressure reflects weak market sentiment and limited near-term earnings triggers. Any new strategic product launch or partnership announcement may re-rate valuations. Macro View (Sector & Economy) Growth of digital advertising and online search in India remains strong. Macro factors like SME activity, consumer demand, and digital adoption will play key roles. Broader market weakness, global slowdown, or digital ad cuts could weigh on performance. Upcoming Events & Impact Quarterly Results: Revenue growth & margin commentary will be crucial. Reliance Retail Strategy Updates: Any announcement on integration could drive upside. Digital/Tech Sector News: Policy changes in digital advertising or new competitors may create volatility. Past events like Reliance acquisition had strong positive impact, but post-rally consolidation is now visible. Outlook Short-term: Cautious view, possible bounce from ₹800 support, but resistance at ₹850–870. Medium-term: Sustaining above ₹870 may open the way for ₹920–950. Long-term: Reliance backing, cash-rich status, and digital growth story remain positives for investors. Disclaimer This report is prepared for educational purposes only. It should not be considered investment advice. Stock market investments carry risks. Please consult your SEBI-registered financial advisor before making investment decisions. Disclosure We have no personal or family holding/interest in JUST DIAL Ltd. For More Info: Visit Us- www.investogainerresearch.com Call Us- 9009099805, 9098804206 Email Us- info@investogainerresearch.com

Weekly View on RBLBANK

RBL Bank – Weekly Analysis Technical View On the weekly chart, the stock recently showed a strong upward move but is now consolidating. Price is currently around ₹251.85, after making a recent high near ₹265–270. Support: ₹240 (immediate), ₹225 (major) Resistance: ₹265–270 (immediate), ₹285 (major) Trend: Overall bullish bias but short-term consolidation visible. RSI (14): 66 → indicates strength but nearing overbought zone. MACD: Positive crossover sustained → momentum still intact. Moving averages (20, 50, 100 DMA) show bullish alignment, confirming trend reversal from earlier downtrend. If the stock sustains above ₹255–₹260, it can test ₹270–₹285 in the near term. A break below ₹240 may bring temporary weakness. Fundamental View RBL Bank has been working on improving asset quality with declining NPAs. Net Interest Income (NII) growth has shown steady improvement. Focus on retail lending and digital banking strengthening revenue visibility. Capital adequacy remains comfortable, though margins are moderate compared to large private banks. The bank is still in a turnaround phase with gradual investor confidence returning. Micro View (Company-specific) Management is focusing on expanding retail franchise and digital initiatives. Loan book diversification towards secured lending improves stability. Short-term movements may depend on quarterly earnings and credit growth trends. Macro View (Sector & Economy) Banking sector is benefiting from credit growth and low NPA cycle. RBI’s monetary policy stance (interest rates) plays a crucial role. Positive macro factors like GDP growth and urban consumption aid private banks. Any stress in MSME/retail loans or global financial uncertainty could act as risks. Upcoming Events & Impact Quarterly Results: Strong NII growth or lower NPAs could boost stock sentiment. RBI Monetary Policy: Any change in repo rate can directly impact margins. Banking Sector News: Sector-wide reforms, capital infusion, or M&A activity may create volatility. Past events like NPA concerns and management changes had strong negative impact, but recovery signs are visible. Outlook Short-term: Buy on dips near ₹240–₹245 with targets of ₹265–₹270. Medium-term: If momentum sustains, stock can test ₹285–₹300. Long-term: Focused restructuring and digital expansion could re-rate valuations. Disclaimer This report is prepared for educational purposes only. It should not be considered as investment advice. Stock market investments are subject to risks. Please consult your SEBI-registered financial advisor before making any decisions. Disclosure We have no personal or family holding/interest in RBL Bank Ltd. For More Info: Visit Us- www.investogainerresearch.com Call Us- 9009099805, 9098804206 Email Us- info@investogainerresearch.com

Daily Analysis on SBICARD

SBI Cards & Payment Services Ltd. – Market View Current Market Mood: SBI Cards has been under sustained selling pressure for nearly two months, sliding from the ₹940–960 zone to the ₹780–800 band. The latest daily chart shows the stock still trading below all major moving averages, with Parabolic SAR dots overhead — a sign that bears remain in control. While the RSI has slipped into oversold territory (~26), hinting at a possible short-term relief bounce, any sustainable recovery would need a strong close above ₹850. Until then, rallies are likely to attract profit-booking. What’s Driving the Decline? Sector Pressure: RBI’s recent caution on unsecured lending has weighed on credit-card issuers. Earnings Concerns: Higher provisioning and margin compression in the last quarterly results dented investor confidence. Sentiment Shift: NBFC and fintech valuations have cooled due to tighter liquidity and rate hike fears. Fundamental Check: India’s second-largest credit card issuer, backed by SBI’s huge customer base. Fee income growth remains healthy, but interest income faces headwinds from rising borrowing costs. Promoter holding stands near 69.5%, with no major stake changes recently. High exposure to unsecured retail lending remains a double-edged sword — profitable in good times, risky during credit stress. Near-Term Watchlist: Festive Spending (Oct–Dec): Could bring a strong transactional uptick. Q2 Results: Lower-than-expected credit costs could trigger a rebound. RBI Stance: Any policy easing on consumer lending would be a sentiment booster Macro Angle: The credit card business benefits from India’s growing middle class and digital adoption, but is sensitive to macro shifts in interest rates, employment, and inflation. If consumer confidence weakens, discretionary spending falls first — directly impacting card usage. Chart Take: Short-term: Weak bias, “sell on rise” until price crosses ₹850. Medium-term: Accumulate only on dips towards ₹750–770 if sector outlook stabilises. Disclaimer: This note is for information purposes only and is not investment advice. Market conditions change rapidly; please consult a SEBI-registered financial advisor before making any investment decision. Disclosure: No personal holding or interest in SBI Cards at the time of writing. For More Info: Visit Us- www.investogainerresearch.com Call Us- 9009099805, 9098804206 Email Us- info@investogainerresearch.com

Daily Analysis on DEEPAKNTR

Technical Analysis (Daily Chart) Trend: The stock has been in a short-term downtrend since mid-July, dropping from above ₹2,000 to a recent low near ₹1,780 before rebounding. Price Action: Today’s strong bullish candle indicates a short-term relief rally after oversold conditions. The price is still below key moving averages (20 EMA, 50 EMA, 100 EMA) → broader short-term trend remains weak until it sustains above ₹1,900. Indicators: Parabolic SAR: Recently flipped below price → first sign of reversal. MACD: Negative but histogram narrowing, suggesting bearish momentum is slowing. RSI (~44): Moving up from oversold zone, indicating potential for a short-term bounce. Key Levels: Support: ₹1,800, ₹1,750. Resistance: ₹1,900, ₹1,950. Technical Bias: Short-term rebound possible, but trend will turn bullish only if price breaks and sustains above ₹1,900. Fundamental Snapshot Business: Deepak Nitrite is a leading chemical manufacturing company in India, producing basic chemicals, fine & specialty chemicals, and performance products used across industries like pharmaceuticals, agrochemicals, dyes, and petrochemicals. Financials: Strong revenue growth over the last 5 years, but margins have been under pressure recently due to raw material inflation. Debt-light balance sheet; robust cash flows from operations. Strengths: Market leader in certain chemical segments. Strong export presence, with diversified product portfolio. Risks: Cyclical nature of chemical demand. Volatility in crude oil prices (key raw material input). Micro Factors (Company-Specific) Capacity expansion in phenol and acetone plants. Focus on import substitution and value-added specialty chemicals. Long-term supply contracts with domestic and international clients. Macro Factors (Sector & Economy) Global Chemical Cycle: Softening commodity chemical prices can pressure margins in the short term. Crude Oil Price Movements: Directly affect raw material cost structure. Government Policies: PLI schemes and incentives for domestic manufacturing support long-term growth. Upcoming Events & Potential Impact Quarterly Results: Any margin improvement could reverse bearish sentiment. Capacity Expansion Completion: Positive for revenue visibility. Budget Announcements / PLI Scheme Updates: Could lead to re-rating of the stock. Impact of Tariffs or Geopolitical News Yes — chemical companies are sensitive to international trade dynamics: Tariffs: Changes in import/export duties on chemicals could impact competitiveness. Geopolitical Tensions: Disruptions in supply chain (especially from China) can cause raw material shortages and cost spikes. Global Demand Shifts: Trade agreements or sanctions on competing countries can indirectly benefit Indian chemical exporters. Portfolio View Short-Term: Cautious; look for sustained move above ₹1,900 before fresh buying. Long-Term: Attractive on dips given leadership position and domestic manufacturing push. Risks to Outlook Extended slowdown in global demand. Sharp rise in crude oil prices. Regulatory bans on certain chemicals. Disclaimer & Disclosure Disclaimer: This analysis is for educational purposes only and is not investment advice. Investments in equities carry risks; past performance does not guarantee future returns. Disclosure: I/We have no financial interest in Deepak Nitrite Ltd. at the time of writing. Warning: Commodity chemical stocks can be highly volatile; use strict stop-losses and risk management.

Daily Analysis on LAURUSLAB

Technical Analysis (Daily Chart) Trend: The stock has been in a strong uptrend since early June, rallying from ~₹600 to above ₹920 before a recent pullback. Price Action: Currently consolidating after a steep rise; trading above 20, 50, 100, and 200 DMA → bullish structure intact. Pullback found support near the 20-day EMA (~₹835) and bounced. Indicators: Parabolic SAR: Now below price → short-term bullish momentum resuming. MACD: Still in positive territory, though momentum is slightly cooling. RSI (60): Healthy zone, showing there’s still room for upside before overbought levels. Key Levels: Support: ₹835, ₹800. Resistance: ₹880, ₹920 (recent top). Technical Bias: Short-term bullish; if it sustains above ₹880, it can retest ₹920–₹940 levels. Fundamental Snapshot Business: Laurus Labs is a leading pharmaceutical and biotechnology company with strong presence in APIs, formulations, and synthesis services. Financials: Revenue growth supported by strong exports, especially to the US and Europe. Healthy margins from specialty APIs and contract research. Debt levels are moderate; expansion is largely funded via internal accruals. Strengths: Diversified portfolio, strong regulatory compliance (USFDA, WHO), and focus on high-growth therapeutic areas. Risks: High dependence on export markets, raw material cost fluctuations, and regulatory scrutiny. Micro Factors (Company-Specific) New product launches in HIV, oncology, and cardiovascular segments. Strong contract manufacturing pipeline with global pharma majors. R&D-led growth strategy with focus on biosimilars and CDMO services. Macro Factors (Sector & Economy) Global Pharma Demand: Ageing populations and chronic disease prevalence support demand. Currency Movements: A weaker INR vs. USD boosts export margins. Regulatory Landscape: Any delay in USFDA approvals or observations can impact stock performance. Upcoming Events & Potential Impact Quarterly Earnings: Strong results with improved guidance could trigger fresh highs. New Facility Approvals: Any green signal from USFDA or EU regulators will be a major positive. M&A Activity: Acquisition of niche capabilities can drive growth. Impact of Tariffs or Geopolitical News Yes — global trade and geopolitics can impact Laurus Labs: Tariff Changes: Import/export duty changes on APIs or pharma goods can influence cost structures. Geopolitical Tensions: Supply chain disruptions from China (key raw material source) or shipping delays can temporarily affect operations. Global Health Crises: Can spike demand for certain drugs, boosting short-term revenue. Portfolio View Short-Term: Positive bias above ₹835; potential retest of ₹920 if momentum holds. Long-Term: Strong fundamentals and sector tailwinds make it a good candidate for accumulation on dips. Risks to Outlook Currency volatility. Raw material supply disruptions. Regulatory non-compliance issues. Disclaimer & Disclosure Disclaimer: This content is for educational purposes only and should not be construed as investment advice. Stock market investments are subject to market risks; past performance is not indicative of future results. Disclosure: I/We have no personal or financial interest in Laurus Labs Ltd at the time of writing. Warning: Pharmaceutical stocks can be volatile around news events; use proper risk management. For More Info: Visit Us- www.investogainerresearch.com Call Us- 9009099805, 9098804206 Email Us- info@investogainerresearch.com

Daily Analysis on RECLTD

REC Ltd — Technical, Fundamental, Micro & Macro View Technical (Daily) Trend: Short-term downtrend. Price is below all key moving averages (fast/medium EMAs and 200-DMA is far overhead). Price action: Lower highs/lower lows; repeated rejection near the ₹395–402 supply zone (confluence of MAs). Indicators: Parabolic SAR dots above price → bearish pressure intact. MACD below signal with falling histogram → negative momentum. RSI 39 → weak but not deeply oversold (scope for brief bounces). Levels: Support: ₹378–₹375 (near recent swing), then ₹368 / ₹360. Resistance: ₹392–₹400 (MA cluster), then ₹408. Technical bias: Bearish while below ₹400. Short-term bounces are sell-on-rise unless there’s a daily close back above ₹400–₹405 with volume. Why is the stock sliding? A mix of technical and fundamental/flow drivers: Technical breakdown below the key EMAs triggered systematic selling and a “sell-on-rise” setup. PSU/NBFC rotation & profit-booking after a strong multi-quarter rally across power-financiers. Rate/Yield sensitivity: firm G-sec yields can pressure funding costs and NBFC valuations. Flow overhang risks: periodic government supply (OFS/ETF rebalances) or profit-taking by institutions can weigh on price. Sector headlines: delays/slippages in discom reforms/smart-meter rollouts or tender timing sometimes damp sentiment (even if long-term thesis stays intact). (These are common drivers; none alone may be decisive on any single day.) Fundamentals (Snapshot): Business: PSU infra-NBFC financing India’s power value chain—T&D, generation, renewables, smart meters (RDSS), green corridors, pumped hydro, etc. Balance sheet: Typically strong capital adequacy for a PSU NBFC; asset quality supported by sovereign/state-linked counterparties, though state DISCOM exposure is a structural risk. Earnings engine: Large loan book, spreads under watch with the interest-rate cycle; steady fee income from project appraisal/management. Shareholder returns: Historically healthy dividends, aided by PSU payout policy. Key risks: Rate cycle, ALM/liquidity, policy delays in DISCOM reform & metering, concentration to state utilities, any change in PSU dividend policy. Micro Triggers to Track: Order/ sanction pipeline: Fresh sanctions in renewables, smart meters (RDSS), and transmission (GEC) increase growth visibility. Cost of funds & spreads: Any uptick in borrowing costs or compression in yields affects NIM. Asset quality: Movement in Stage-3 assets/recoveries from legacy stressed accounts. Capital actions: Bond issuances, potential equity supply (OFS/ETF), or rating changes. Macro & Policy Backdrop: Power demand growth, renewable capex push, and grid strengthening are tailwinds. RBI policy & bond yields influence NBFC valuations and profitability. Union/State reforms: RDSS implementation, smart-meter rollouts, and transmission build-out timelines are key. Budget/PSU dividends: Government payout expectations and disinvestment calendars can affect flows. Upcoming Events & Possible Impact: Q1 FY26 results/management commentary: Watch loan growth, disbursements in renewables/metering, NIM/spreads, Stage-3, credit costs, and FY26 guidance. A beat + confident guidance could fuel a relief rally toward ₹392–₹400; a miss or cautious tone may extend the drift toward ₹368/₹360. RBI policy/sovereign yield moves: Softer yields → valuation support; firmer yields → pressure. Tender/award news (RDSS, transmission, green energy corridors): Positive newsflow can improve sentiment for power financiers broadly. Portfolio View (tactical vs. investment): Short term (weeks): Defensive/neutral. Prefer sell on rise into ₹392–₹400 unless a strong close above ₹405 reverses the structure. Medium/long term (12–24 months): If your thesis is on power-sector capex and PSU financiers, consider buying on deeper dips near stronger supports (₹368/₹360) in staggered lots, provided business metrics (growth, spreads, asset quality) remain intact. Risk Checklist: Yield spike or risk-off in PSUs Slower-than-expected RDSS/smart-meter execution Equity/ETF supply or OFS Policy changes in PSU dividend/disbursement norms Disclaimer, Disclosure & Warning: Disclaimer: This note is for educational & informational purposes only and is not investment advice or a solicitation to buy/sell any security. Markets involve risk; past performance is not indicative of future results. Do your own research or consult a licensed advisor considering your objectives and risk tolerance. Disclosure: I/We have no positions in REC Ltd at the time of writing. (Update this line if you or your clients hold/plan to transact. Risk Warning: NBFCs are sensitive to interest-rate moves, liquidity, and policy changes. Prices can be volatile around results, RBI policy, and government announcements. Use position sizing and stop-losses. For More Info: Visit Us- www.investogainerresearch.com Call Us- 9009099805, 9098804206 Email Us- info@investogainerresearch.com

Daily Analysis on Steel Stocks

Global Cues & Demand Outlook China factor: China, the world’s largest steel producer, reported weak real estate and manufacturing growth data. This led to a downgrade in the global steel demand forecast. Pressure on international prices: Steel rebar and hot-rolled coil prices on the Shanghai Futures Exchange fell sharply, directly impacting Indian steel export sentiment. U.S. tariff concerns: Ongoing discussions in the U.S. regarding higher tariffs on metals have created uncertainty in global steel trade, hurting investor sentiment. Domestic Factors Auto & infra demand soft patch: Due to monsoon season, infrastructure project execution has slowed. Additionally, July auto sales were mixed, weakening short-term steel consumption expectations. Inventory build-up: High stock levels at domestic steel mills have added to selling pressure. Company-specific Triggers Tata Steel: European operations are facing margin pressure due to high energy costs and wage hikes. Some capex projects have been delayed, which the market has viewed cautiously. SAIL: Quarterly results showed margin contraction, with operating profit declining year-on-year. Rising raw material costs, particularly coking coal, have squeezed profitability. Technical View Tata Steel: The 20-DMA crossed below the 50-DMA (bearish crossover). RSI has dropped below 40, indicating strong selling momentum. SAIL: The price is sustaining below the 200-DMA, with a breakdown supported by higher volumes — a bearish sign. Short-term Outlook: Sentiment remains weak until global cues improve and demand visibility returns. A further 3–5% downside is possible in the near term. Medium to Long-term: India’s infrastructure push (Gati Shakti, railways, housing projects) and green steel initiatives could support a demand recovery. A trend reversal is likely once FII/DII accumulation starts. Tata Steel – Technical View Current Price Action: The stock recently faced selling pressure after failing to hold above short-term EMAs (14 & 55-day). The latest candle shows a strong red bar indicating bearish momentum. Indicators: Parabolic SAR is above the price – bearish signal. MACD is negative and below the signal line – bearish momentum persists. RSI near 41 – weak momentum but not yet oversold. Support Zones: ₹152–150 Resistance Zones: ₹160–162 Short-Term View: Weakness likely to continue; may test ₹152–150 zone before any bounce. Long-Term View: As long as it holds ₹150 on closing basis, long-term uptrend is intact. Sustained break above ₹165 could trigger fresh rally towards ₹172–175. SAIL – Technical View Current Price Action: Price has been in a downtrend, with repeated failures to close above 55-day EMA. Fresh selling has emerged from the ₹125 level. Indicators: Parabolic SAR above price – bearish trend. MACD in deep negative territory – strong bearish bias. RSI near 37 – approaching oversold zone. Support Zones: ₹118–116 Resistance Zones: ₹125–127 Short-Term View: Likely to retest ₹118–116 zone; a bounce possible if support holds. Long-Term View: Long-term buyers may wait for reversal confirmation above ₹130 to re-enter; otherwise risk of sideways to bearish movement. Summary Short-Term (1–2 weeks): Both stocks showing bearish pressure; possible retest of lower supports. Medium to Long-Term (2–6 months): If macro sentiment on steel improves (e.g., demand recovery, China stimulus, infra push in India), both could see a reversal. Until then, cautious approach with strict stop-loss is advised. Warning Trading and investing in the stock market involve market risks. Price movements in steel sector stocks can be highly volatile due to changes in demand-supply, global commodity prices, government policies, and geopolitical factors. Always use proper risk management and stop-loss strategies. Disclaimer This analysis is prepared for educational and informational purposes only and should not be considered as investment advice or a recommendation to buy or sell any security. Past performance is not indicative of future results. Investors are advised to consult a SEBI-registered financial advisor before making any investment decision. Disclosure We, Investogainer Research, are a SEBI Registered Research Analyst (Reg. No. INH000012856) and BSE-listed entity (Code: 5845). We do not have any personal, proprietary, or family holding in Tata Steel Ltd. or Steel Authority of India Ltd. (SAIL) at the time of preparing this report. This report is based on publicly available data, charts, and our market analysis. For More Info: Visit Us- www.investogainerresearch.com Call Us- 9009099805, 9098804206 Email Us- info@investogainerresearch.com

Daily Analysis on IOC on 13082025

Indian Oil Corporation (IOC) – Comprehensive Analysis Technical View (Daily Chart) Trend: Stock has been under short-term pressure but is attempting a minor recovery after a recent correction. Moving Averages: 14-day EMA ~ Near current price; acting as resistance 50-day & 100-day EMAs above price → trend still weak in medium-term Indicators: RSI (42.5): Neutral zone, showing potential for mild upside if momentum sustains. MACD: Bearish crossover, but histogram showing signs of flattening → selling pressure reducing. Parabolic SAR: Below recent candles, indicating early signs of bullish reversal. Support: ₹140 – ₹138 zone Resistance: ₹146 – ₹150 zone Technical Bias: Neutral to mildly bullish if price sustains above ₹145. Fundamental View Business: India’s largest downstream oil refining & marketing company. Market Cap: ~₹2.1 lakh crore P/E Ratio: ~5.5 (below industry average → undervalued territory) Dividend Yield: ~9% (very attractive for income investors) Recent Performance: Stable revenue, but margins are sensitive to crude oil prices & government policy on fuel prices. Debt: Moderate but well-managed due to steady cash flows. Micro Factors Stable retail network, largest fuel distribution in India. Earnings fluctuate with crude price volatility. Strong dividend track record. Expanding into petrochemicals, EV charging stations & green hydrogen. Macro Factors Crude oil prices & INR-USD exchange rate directly impact profitability. Government fuel price control policy is a major earnings driver. Global energy transition pushing towards renewable & clean energy investments. Role of Government IOC is a PSU under the Ministry of Petroleum & Natural Gas. Pricing, subsidies & strategic crude reserves are influenced by government policy. Being a strategic asset, IOC benefits from government contracts & energy infrastructure push. Upcoming Events & Impact Q1 FY26 Results: Expected in coming weeks; refining margins & marketing margins will be key. Oil Price Trends: If crude stabilizes below $80, IOC margins could improve. Government Announcements: Independence Day & pre-budget energy policy hints could boost sentiment. New Projects: IOC has announced green hydrogen & renewable energy projects in the pipeline; long-term positive. Stock Outlook & Portfolio Decision Short Term (1–3 months): If sustains above ₹145, could target ₹150–₹155. Medium to Long Term: Given strong dividend yield & strategic PSU status, IOC can be a buy on dips for income + moderate growth. Risk: Crude price spikes, government-imposed price freezes, or global recession. Disclaimer & Disclosure Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Disclosure: The analyst holds no position in IOC at the time of writing. Investors should consult a SEBI-registered financial advisor before investing. Warning: PSU stocks can be volatile due to policy decisions; allocate accordingly. For more info: Visit Us- www.investogainerresearch.com Call Us- 9009099805, 9098804206 Email Us- info@investogainerresearch.com

Daily Analysis on BEL

BEL: Comprehensive Stock Report Technical Outlook (Daily Chart) BEL's share is trading around ₹388–₹390, flanked by key indicators: The 20-day EMA (green line) is still trending lower, acting as immediate resistance. The stock briefly tested the 50-day EMA (blue), signaling tentative stabilization. MACD is negative, with the histogram shrinking, hinting at weakening bearish momentum. RSI (47) currently sits in neutral territory, allowing room for either move. Parabolic SAR dots are above price—suggesting short-term downward pressure—but a weekly-close above ₹400 could spark recovery. Fundamental & Order Book Strength BEL has consistently strengthened its order pipeline: Secured ₹1,640 crore order for “Atulva” Air Defence Fire Control Radars. Received ₹585 crore contracts covering missile sighting, communication gear, jammers, etc.. Multiple orders since April–May 2025 — including EW suites (₹2,210 crore), IDDIS, SDR, AI systems, simulators — reflect a robust order book, projected at ₹76,000 crore. These deep and diverse orders indicate steady future revenue streams and strong MoD trust. Micro View: Government Role & Strategic Positioning BEL, as a Navratna PSU under MoD, enjoys priority in defence procurement. Its recent wins underscore its critical role in India’s indigenized defence supply chain. DAC approval of ₹67,000 crore in indigenous defence projects bolstered BEL’s sentiment, with stock up 3% on announcement day. Partnerships: MoU with Tata Electronics to advance indigenous semiconductor/electronics solutions. Ongoing projects like “Akashteer” (air-defence system), Project Kusha (indigenous long-range SAM), and QRSAM place BEL at the forefront of future defence tech. BEL’s Akashteer and D4 anti-drone systems are already operational, proving its execution strength. Macro View & Upcoming Catalysts India’s push for Atmanirbhar Bharat and local defence manufacturing continues to benefit BEL. “Project Kusha” prototype expected in 12–18 months, followed by testing—acting as a medium-term upside trigger. Semiconductor push (₹4,009 crore projects approved) enhances BEL’s long-term relevance in the electronics ecosystem. Tech expos, strategic summits, and deep state-level partnerships (e.g., MoU, Aero India showcases) will further showcase BEL’s leadership. Stock Verdict & Portfolio Suitability Near-Term Traders: On the daily chart, BEL appears to be trading within a range, but after quite some time, the stock showed some upside movement today. It opened at ₹382.20, made a low of ₹382.20, touched a high of ₹389.85, and closed at ₹388.85 — right near its 14-day and 55-day EMAs. With 15th August (Independence Day) coming up, commentary from our Prime Minister could significantly impact stocks with Ministry of Defence involvement — and BEL is a key player in this segment. If BEL continues its current rally, I believe that in the short term, the stock could test levels of ₹420–₹425. Medium/Long Term Investors: If your view is medium to long term, BEL can be accumulated on any dips. If the stock continues its rally, it has the potential to break its all-time high. Over the next 1–2 years, BEL could possibly reach levels of ₹480–₹500 on the upside. Disclaimer, Disclosure & Warning Warning – Disclaimer: Registration as a SEBI-registered Research Analyst (RA) or membership in a SEBI-recognized supervisory body (BSE) does not guarantee returns. Investments in the securities market are subject to market risk; past performance is not indicative of future results. Always conduct your own due diligence and consult a SEBI-registered financial advisor before investing. For More Info: Visit Us- www.investogainerresearch.com Call Us- 9009099805, 9098804206 Email Us- info@investogainerresearch.com