Winning Strokes

The Indian bourses are on a roll once again. The BSE Sensex is seen trading at 59,900.58 up 298.74 points (+0.50%), while the NSE was last seen at 17,843.50 up 97.60 points (+0.55%). The markets are likely to remain bullish in view of the optimism surrounding the upcoming union budget.

#The scrip of A2Z Infra Engineering Ltd (Rs.11.95) hit another buyer Freeze. Congratulations to all the Shareholders.

#Accumulate the shares of Bombay Rayon and Fashions Ltd (Rs.8.70), as the worse seems to be over for the company. Bombay Rayon Fashions Limited had earlier carved out BRFL Textiles Pvt Ltd (BTPL) earlier last year to house its factory in Tarapur, Maharashtra.

Last year BRFL Textiles Pvt Ltd raised Rs. 240 crore ($32 million) in an equity round of funding led by JM Financial India Fund II and US-based Think Investments. BTPL has a strong presence in the B2B and B2C space along with long-standing relations with leading brands across the globe. Photo: The newly opened Retail outlet in Bangalore, of Bombay Rayon and Fashions Ltd.

The Tarapur plant is a multi-fibre fabric processing unit. With its annual processing capacity of 400,000 metres per day, the plant is the largest single-roof fabric processing unit in India. It also has a captive yarn dyeing unit with an annual capacity of 10.6 million kg.

It is a huge company. My sources are saying that it is on the way to strike a lucrative deal with JM Financial ARC.

BTPL currently houses brands such as Bombay Rayon, BRFL, Linen Vogue, Giza Classe, Dickens & Browne and others.

The company owed banks about Rs.4,270.18 crore at the end of March, 2021. Of this, JM Financial ARC has taken over nearly 85% from other lenders, as per the company’s annual report for 2019-20.

Over the past year, the firm has restructured its debt from Indian Overseas Bank, IDBI Bank, Corporation Bank, Union Bank of India and Rajaram Bapu Sahakari Bank through a one-time settlement process.

#My recently recommended BF Utilities Ltd (Rs. 397.40) made an intraday high of Rs.402.70. Keep Holding with a SL at Rs.391.

#The stock of Suzlon Energy Ltd (Rs.10.65) hit another buyer Freeze today. Keep holding with a SL at Rs.9.70.