Khyati Global Ventures IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

Khyati Global Ventures is an 2-Star Export House in Mumbai, India. They export various food products, ready to eat products, confectioneries, snack, general provision items to all over the world. KGVL is specialized into Indian food products like Food Stuff, Pulses, Snacks, Spices, General Provisions, Instant Food, Pickles, Cookies, Mouth Freshener (Mukhwas), Beverage, Ready to Eat, Sweets etc.

Khyati Global Ventures, an Fixed Price Issue amounting to ₹18.29 Crores, consisting an Fresh Issue of 10.48 Lakh Shares worth worth ₹10.37 Crores and an Offer for Sale of 8.00 Lakh Shares totalling to ₹7.92 Crores. The subscription period for the Khyati Global IPO opens on October 04, 2024, and closes on October 08, 2024. The allotment is expected to be finalized on or about Wednesday, October 9, 2024, and the shares will be listed on the BSE SME with a tentative listing date set on or about Friday, October 11, 2024.

The Share price band Khyati Global IPO is set at ₹99 equity per share, with a minimum lot size of 1,200 shares. Retail investors are required to invest a minimum of ₹1,18,800, while the minimum investment for High-Net-Worth Individuals (HNIs) is 2 lots (1,400 shares), amounting to ₹2,37,600.

ARYAMAN FINANCIAL SERVICES LIMITED is the book-running lead manager, BIGSHARE SERVICES PRIVATE LIMITED is the registrar for the Issue. Aryaman Capital Markets Limited is the sole Market Marker for the Khyati Global.

Khyati Global Ventures Limited IPO GMP Today
The Grey Market Premium of Khyati Global Ventures Limited IPO is expected to be ₹0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

Khyati Global Ventures Limited IPO Live Subscription Status Today: Real-Time Updates
As of 07:00 PM on 08 October 2024, the Khyati Global Ventures Limited IPO live subscription status shows that the IPO subscribed 14.46 times on its Third day of subscription period. Check the Khyati Global Ventures Limited IPO Live Subscription Status Today at BSE.

Khyati Global Ventures Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online 
Khyati Global Ventures IPO allotment date is 09 October, 2024, Wednesday. Khyati Global Ventures IPO Allotment will be out on 9th October 2024 and will be live on Registrar Website from the allotment date. Check Khyati Global Ventures Limited IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Khyati Global Ventures Limited IPO from the dropdown list of IPOs.
- Enter your application number, PAN, or DP Client ID.
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Khyati Global Ventures Limited IPO
Khyati Global Ventures Issue Proceeds from the Fresh Issue will be utilized towards the following objects : 
1. ₹745.00 Lakhs will be used for Funding Working capital requirements; 
2. ₹175.36 Lakhs will be used for General Corporate Purpose

Refer to Khyati Global Ventures Limited RHP for more details about the Company.

Khyati Global Ventures IPO Details

IPO Date October 04, 2024 to October 08, 2024
Listing Date October 11, 2024
Face Value ₹10
Price ₹99 per share
Lot Size 1,200 Equity Shares
Total Issue Size 18,48,000 Equity Shares (aggregating ₹18.29 Cr)
Fresh Issue 10,48,000 Equity Shares (aggregating ₹10.37 Cr)
Offer for Sale 8,00,000 Equity Shares (aggregating ₹7.92 Cr)
Issue Type Fixed Price Issue
Listing At BSE SME
Share holding pre issue 59,30,100
Share holding post issue 69,78,100

Khyati Global Ventures IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 1,200 ₹1,18,800
Retail (Max) 1 1,200 ₹1,18,800
HNI (Min) 2 2,400 ₹2,37,600

Khyati Global Ventures IPO Timeline (Tentative Schedule)

IPO Open Date October 4, 2024
IPO Close Date October 8, 2024
Basis of Allotment October 9, 2024
Initiation of Refunds October 10, 2024
Credit of Shares to Demat October 10, 2024
Listing Date October 11, 2024
Cut-off time for UPI mandate confirmation 5 PM on October 08, 2024

Khyati Global Ventures IPO Reservation

Investor Category Shares Offered Reservation %
Non-Institutional Investor Portion 8,77,200 50% of the Net Issue
Retail Shares Offered 8,77,200 50% of the Net Issue
Market Maker Portion 93,600 5.06% of the Issue

Khyati Global Ventures IPO Promoter Holding

Share Holding Pre Issue 87.46%
Share Holding Post Issue 62.86%

Khyati Global Ventures IPO Subscription Status

Investor Category Shares Offered Shares Bid For No oF Times Subscribed
Non Institutional Investors(NIIS) 9,70,800 47,76,000 4.92
Retail Individual Investors (RIIs) 8,77,200 2,19,28,800 25.00
Total 18,48,000 2,67,13,200 14.46

About Khyati Global Ventures Limited

Khyati Global Ventures are an Exporter and Re-packager of variety of FMCG products which include sub-categories of Food stuff, Nonfood FMCG products, Household Products, Festive handicraft items and they also deal in the Pharmaceutical products. 

Their major customers are wholesalers and super market importers who runs a chain of supermarkets located in foreign countries. They believe their endeavor to facilitate one stop vendor for their customers every purchase need, along with their competitive pricing due to their local market knowledge, careful product assortment and supply chain efficiencies, has helped them achieve growth and success. The Company deals in basic items used by end consumers in day-to-day life.

They are asset-light in respect of their plant, property and equipment which enable them to achieve a high return on capital employed, with a substantial portion of their sales being generated through their warehouse. They do not believe in opening stores rather operating through a warehouse and being able to export to more than 40 countries currently. By using economies of scale, they are able to optimize several costs such as their rental, administration, maintenance and employee costs, thereby leading to improved profitability. 

INDIAN FMCG SECTOR
The FMCG sector in India expanded due to consumer-driven growth and higher product prices, especially for essential goods. FMCG sector provides employment to around 3 million people accounting for approximately 5% of the total factory employment in India. FMCG sales in the country was expected to grow 7-9% by revenues in 2022-23. The key growth drivers for the sector include favourable Government initiatives & policies, a growing rural market and youth population, new branded products, and growth of e-commerce platforms. Resilience needs to be the key factor in the manufacturing process, daily operations, retail and logistic channels, consumer insights and communication that will help FMCG companies to withstand the test of time and create more value for consumers in the long run. India’s fastmoving consumer goods (FMCG) sector grew 7.5% by volumes in the April-June 2023 quarter, the highest in the last eight quarters, led by a revival in rural India and higher growth in modern trade. 

Fast-moving consumer goods (FMCG) sector is India’s fourth-largest sector and has been expanding at a healthy rate over the years because of rising disposable income, a rising youth population, and rising brand awareness among consumers. With household and personal care accounting for 50% of FMCG sales in India, the industry is an important contributor to India’s GDP. 

Growing awareness, easier access and changing lifestyles have been the key growth drivers for the sector. The urban segment (accounts for a revenue share of around 65%) is the largest contributor to the overall revenue generated by the FMCG sector in India. However, in the last few years, the FMCG market has grown at a faster pace in rural India compared to urban India. Semi-urban and rural segments are growing at a rapid pace and FMCG products account for 50% of the total rural spending.

FMCG market reached US$ 167 billion as of 2023. Total revenue of FMCG market is expected to grow at a CAGR of 27.9% through 2021-27, reaching nearly US$ 615.87 billion. In 2022, urban segment contributed 65% whereas rural India contributed more than 35% to the overall annual FMCG sales. Good harvest, government spending expected to aid rural demand recovery in FY24. The sector had grown 8.5% in revenues and 2.5% in volumes last fiscal year. In the January-June period of 2022, the sector witnessed value growth of about 8.4% on account of price hikes due to inflationary pressures. In Q2, 2022, the FMCG sector clocked a value growth of 10.9% Y-o-Y higher than the 6% Y-oY value growth seen in Q1. 

Indian food processing market size reached US$ 307.2 billion in 2022 and is expected to reach US$ 547.3 billion by 2028, exhibiting a growth rate (CAGR) of 9.5% during 2023-2028. 

The Union government approved a new PLI scheme for the food processing sector, with a budget outlay of Rs. 109 billion (US$ 1.46 billion). Incentives under the scheme will be disbursed for six years to 2026-27 Digital advertising will grow to reach US$ 9.92 billion by 2023, with FMCG industry being the biggest contributor at 42% share of the total digital spend. 

India includes 780 million internet users, where an average Indian person spends around 7.3 hours per day on their smartphone, one of the highest in the world. Number of active internet users in India will increase to 900 million by 2025 from 759 million in 2022. In 2021, India’s consumer spending was US$ 1,891.90 billion. Indian villages, which contribute more than 35% to overall annual FMCG sales, are crucial for overall revival of the sector. E-commerce now accounts for 17% of the overall FMCG consumption among evolved buyers, who are affluent and make average spends of about Rs. 5,620 (US$ 68). 

The Indian e-commerce market is anticipated to grow from US$ 83 billion in 2022 to US$ 185 billion in 2026. By 2030, it is expected to have an annual gross merchandise value of US$ 350 billion. Fuelling e-commerce growth, India is expected to have over 907 million internet users by 2023, which accounts for ~64% of the total population of the country. 

The market has grown exponentially over the past five years due to the surge in internet and smartphone users, improved policy reforms, and increase in disposable income. Mobile wallets, Internet banking, and debit/credit cards have become popular among customers for making transactions on e-commerce platforms. As of 2021, there were 1.2 million daily e-commerce transactions. The total value of digital transactions stood at US$ 300 billion in 2021 and is projected to reach US$ 1 trillion by 2026. 

The India online grocery market size has been projected to grow from US$ 4,540 million in 2022 to US$ 76,761.0 million by 2032, at a CAGR of 32.7% through 2032. 

The FMCG market in India is expected to increase at a CAGR of 14.9% to reach US$ 220 billion by 2025, from US$ 110 billion in 2020. The Indian FMCG industry grew by 16% in CY21 a 9- year high, despite nationwide lockdowns, supported by consumption-led growth and value expansion from higher product prices, particularly for staples. The Indian processed food market is projected to expand to US$ 470 billion by 2025, up from US$ 263 billion in 2019-20. FMCG giants such as Johnson & Johnson, Himalaya, Hindustan Unilever, ITC, Lakmé and other companies (that have dominated the Indian market for decades) are now competing with D2C-focused start-ups such as Mamaearth, The Moms Co., Bey Bee, Azah, Nua and Pee Safe. Market giants such as Revlon and Lotus took ~20 years to reach the Rs. 100 crore (US$ 13.4 million) revenue mark, while new-age D2C brands such as Mamaearth and Sugar took four and eight years, respectively, to achieve that milestone.

Rural consumption has increased, led by a combination of increasing income and higher aspiration levels. There is an increased demand for branded products in rural India. On the other hand, with the share of the unorganised market in the FMCG sector falling, the organised sector growth is expected to rise with an increased level of brand consciousness, augmented by the growth in modern retail. Another major factor propelling the demand for food services in India is the growing youth population, primarily in urban regions. India has a large base of young consumers who form most of the workforce, and due to time constraints, barely get time for cooking. Online portals are expected to play a key role for companies trying to enter the hinterlands. The Internet has contributed in a big way, facilitating a cheaper and more convenient mode to increase a company’s reach. The number of internet users in India is likely to reach 1 billion by 2025. It is estimated that 40% of all FMCG consumption in India will be made online by 2020. E-commerce share of total FMCG sales is expected to increase by 11% by 2030. It is estimated that India will gain US$ 15 billion a year by implementing GST. GST and demonetisation are expected to drive demand, both in the rural and urban areas and economic growth in a structured manner in the long term and improved the performance of companies within the sector.

SPICES INDUSTRY
India is the world’s largest spice producer. It is also the largest consumer and exporter of spices. The production of different spices has been growing rapidly over the last few years. Production in 2022-23 stood at 11.14 million tonnes compared to 11.12 million tonnes in 2021-22. During 2022-23, the export of spices from India stood at US$ 3.73 billion from US$ 3.46 billion in 2021-22. 

During 2021-22, the single largest spice exported from India was chilli followed by spice oils and oleoresins, mint products, cumin, and turmeric. 

India produces about 75 of the 109 varieties which are listed by the International Organization for Standardization (ISO). The most produced and exported spices are pepper, cardamom, chilli, ginger, turmeric, coriander, cumin, celery, fennel, fenugreek, garlic, nutmeg & mace, curry powder, spice oils and oleoresins. Out of these spices, chilli, cumin, turmeric, ginger and coriander makeup about 76% of the total production. 

The largest spices-producing states in India are Madhya Pradesh, Rajasthan, Gujarat, Andhra Pradesh, Telangana, Karnataka, Maharashtra, Assam, Orissa, Uttar Pradesh, West Bengal, Tamil Nadu and Kerala.

AGRICULTURAL AND FOOD INDUSTRY
India is one of the largest agricultural product exporters in the world. In April-January 2024, the overall value of export of agricultural products stood at US$ 38.65 billion. In 2022-23, the agricultural exports from India stood at US$ 52.50 billion. During 2021-22, the country recorded US$ 50.2 billion in total agriculture exports with a 20% increase from US$ 41.3 billion in 2020-21. 

India’s agriculture sector primarily exports Agri & allied products, marine products, plantation, and textile & allied products. Agri & allied products exports were valued at US$ 37.3 billion, recording a growth of 17% over 2020-21. In 2022-23, rice exports from India were valued at US$ 11.14 billion, as against US$ 9.67 billion in 2021-22, registering a growth of 15.22%. Rice is the largest exported agricultural product from India and contributed to more than 20% of the total agriculture exports during the year 2022-23. 

Coffee exports from India jumped by 12.3% to 1146.2 million tonnes in 2023, on the rise in instant coffee exports and re-exports. Higher exports of marine products, at US$ 8.07 billion in 2022-23, are benefitting farmers in the coastal states of West Bengal, Andhra Pradesh, Odisha, Tamil Nadu, Kerala, Maharashtra, and Gujarat.

The government’s commitment to increasing farmers‟ income can be seen through the significant rise witnessed in Agri-exports by giving thrust on boosting exports. Various initiatives taken by the government through APEDA such as organizing B2B exhibitions in different countries and exploring new potential markets through product-specific and general marketing campaigns have worked as catalysts for the growth of exports. The government of India has created a product matrix for 50 agricultural products with strong export potential and recognized 220 labs to provide services of testing a wide range of products to enable exporters across India.

HANDICRAFT INDUSTRY
India is one of the largest handicraft-exporting countries and a clear leader in the homemade carpet segment both in terms of volume and value. During April-February 2024, the total exports of handicrafts were valued at Rs. 27,291 crore (US$ 3.29 billion) compared to Rs. 27,694 crore (US$ 3.37 billion) in the same period last year. 

In FY23, the total exports of handicrafts stood at Rs. 30,019 crore (US$ 3.60 billion). In 2021-22, the total exports of Indian handicrafts were valued at US$ 4.35 billion, a 25.7% increase from the previous year. Over the past three years, the export of handmade goods, especially carpets, has grown steadily. India accounts for roughly 40% of global exports of handmade carpets. India’s carpet export in FY23 stood at US$ 1.36 billion, while in FY22, it reached US$ 1.79 billion. Carpet exports from India totalled US$ 1.37 billion in FY20. Major goods exported by India are handmade woollen, woodwares, embroidered & crocheted goods, art metal ware, hand-printed textiles & scarves, agarbatties & attars, zari & zari goods, and imitation jewellery. Handicraft exports of various segments in FY24 (until Febaruary 2024) stood as follows, woodwares at US$ 809.9 million, embroidered & crocheted goods at US$ 432.1 million, art metal wares at US$ 488.8 million, handprinted textiles and scarves at US$ 174.8 million, imitation jewellery at US$ 166.9 million, miscellaneous handicrafts at US$ 1.02 billion.

PHARMACEUTICALS INDUSTRY
India’s share of pharmaceuticals and drugs in the global market is 5.71%. Formulations and Biologics constituted the major portion of India’s exports with a share of 72.54% followed by drug intermediates and bulk drugs. During FY24 (Until February 2024), the exports of drugs and pharmaceuticals stood at US$ 25.02 billion . In FY23, the exports of drugs and pharmaceuticals stood at US$ 25.4 billion. During 2021-22, the country exported pharma products worth US$ 24.59 billion, while in 2020-21, the exports grew at 18% YoY to US$ 24.44 billion. This robust performance was achieved despite the global supply chain disruptions, lockdowns, and subdued manufacturing. The USA, Belgium, South Africa, the UK, and Brazil were India’s top five export destinations in FY23. India played a key role during the COVID-19 pandemic and demonstrated its ability to be a consistent and reliable pharma supplier to the world even during times of crisis. 

India has the highest number of United States Food and Drug Administration (USFDA) compliant companies with plants outside of the USA. About eight out of 20 global generic companies are from India and over 55% of the exports from the country are to the highly regulated markets. As the country is the biggest vaccine exporter, about 65-70% of the World Health Organization (WHO) vaccine requirements are sourced from India. 

TEA INDUSTRY
India is among the top 5 tea exporters in the world making about 10% of the total exports. From April-February 2024, the total value of tea exports from India stood at US$ 752.85 million. Indian Assam, Darjeeling, and Nilgiri tea are considered one of the finest in the world. Majority of the tea exported out of India is black tea which makes up about 96% of the total exports. The types of tea exported through India are black tea, regular tea, green tea, herbal tea, masala tea and lemon tea. Out of these, black tea, regular tea, and green tea make up approximately 80%, 16% and 3.5% of the total tea exported from India. 

India's total tea exports during 2022-23 in quantity were 228.40 million kg and worth US$ 793.78 million. During the financial year 2021-22 period, India exported tea in quantity were 200.79 million kg worth US$ 726.82 million. In 2022-23, the unit price of tea was US$ 3.48 per kg. From April 2023-January 2024, quantity of India’s total tea exports stood at 199.84 million kg.

KHYATI VENTURES GLOBAL LIMITED COMPETITIVE STRENGTHS
1. Well established infrastructure facilities
2. Diverse range of Product in their Portfolio
3. Focus on Export Business
4. Experienced Promoters and Management Team
5. Consistent track record of financial performance

KHYATI VENTURES GLOBAL LIMITED STRATEGIES
1. Maintain a well funded balance sheet for ensuring high working capital requirements are met
2. Expand their reach into new markets
3. Brand Building
4. Build a Professional organisation and continue to recruit, retain and train qualified personnel

KHYATI VENTURES GLOBAL LIMITED RISK FACTORS & CONCERNS
1. The company derives majority of its revenue from export of its products.
2. The products are semi-perishable in nature and the average shelf life of their products ranges from six months to two years.
3. The market for FMCG product food stuff and non-food stuff is large and intensely competitive.
4. Investors can be subject to Indian taxes arising out of capital gains on the sale of the Equity Shares.

Khyati Global Ventures Limited Financial Information (Restated Consolidated)

Amount in (₹ in Lakh)

Period Ended Mar 31, 2024 Mar 31, 2023 Mar 31, 2022
Reserve of Surplus 670.59 805.60 599.95
Total Assets 5,275.97 3,458.90 3,468.13
Total Borrowings 1,768.92 1,575.05 1,414.56
Fixed Assets 162.49 185.24 217.73
Cash 54.81 44.38 76.26
Net Borrowing 1,714.11 1,530.67 1,338.3
Revenue 10,464.09 9,617.14 9,362.70
EBITDA 514.55 413.65 377.28
PAT 253.19 205.66 149.66
EPS 4.89 3.97 2.92

Note 1:- RoAE & ROCE calculation in KPI is based on 31st Mar, 2024 Data, given in RHP.
Note 2:- Pre EPS and Post EPS calculation in KPI is based (PAT) on 31st Mar, 2024 Data, given in RHP.
Note 3:- RoNW calculation in KPI is based on 31st Mar, 2024 Data, given in RHP.
Note 4:- Price to Book Value calculation in KPI is based on Cap Price after Offer, given in RHP.

Key Performance Indicator

KPI Values
EPS Pre IPO (Rs.) ₹4.89
EPS Post IPO (Rs.) ₹3.62
P/E Pre IPO 20.24
P/E Post IPO 27.34
ROE 25.58% (RoAE)
ROCE 17.73%
P/BV 2.45
Debt/Equity 1.02
RoNW 21.31%

Khyati Global Ventures Limited IPO Peer Comparison

Company Name EPS ROCE ROE P/E (x) P/Bv Debt/Equity RoNW (%)
Khyati Global Ventures Limited ₹3.62 17.73 25.58% (RoAE) 27.34 2.45 1.02 21.31%
There are no Listed Peer Companies in India which can be compared with Khyati Global Ventures. % % - - - %
Khyati Global Ventures Limited Contact Details

KHYATI GLOBAL VENTURES LIMITED

54 Juhu, Supreme Shopping Centre, Gulmohar Cross Road no. 9, JVPD Scheme, Juhu, Mumbai- 400049, Maharashtra
Contact Person Charu Srivastava
Telephone +91 22-26255959
Email Id : info@kgv.co.in
Website : https://kgv.co.in/

Khyati Global Ventures IPO Registrar and Lead Manager(s)

Registrar : BIGSHARE SERVICES PRIVATE LIMITED
Contact Person Babu Rapheal
Telephone 022-62638200
Email Id : ipo@bigshareonline.com
Website : https://www.bigshareonline.com/

Lead Manager : ARYAMAN FINANCIAL SERVICES LIMITED
Contact Person Rocky Shyamal/ Harsha Lohia
Telephone : +91 22 6216 6999
Email Id : ipo@afsl.co.in
Website : https://www.afsl.co.in/

Khyati Global Ventures IPO Review

Khyati Global Ventures is an 2-Star Export House in Mumbai, India. They export various food products, ready to eat products, confectioneries, snack, general provision items to all over the world. KGVL is specialized into Indian food products like Food Stuff, Pulses, Snacks, Spices, General Provisions, Instant Food, Pickles, Cookies, Mouth Freshener (Mukhwas), Beverage, Ready to Eat, Sweets etc.

The Company is led by experienced Promoters, named, Ramesh Rughani, Chandrika Rughani, Khyati Rughani, Aditi Raithatha and Hiren Raithatha.

Financially, Revenue in Fiscal 2024, Fiscal 2023 and Fiscal 2022 was ₹10,464.09 Lakhs, ₹9,617.14 Lakhs and ₹9,362.70 Lakhs, respectively. The EBITDA for the Fiscals 2024, 2023 and 2022 were 514.55 Lakhs, 413.65 Lakhs and 377.28 Lakhs respectively. The Profit after Tax for the Fiscals 2024, 2023 and 2022 were 253.19 Lakhs, 205.66 Lakhs and 149.66 Lakhs respectively. This indicates steady growth in financial performance.

For the Khyati Global Ventures IPO, the company is issuing shares at a pre-issue EPS of ₹4.89 and a post-issue EPS of ₹3.62. The pre-issue P/E ratio is 20.24x, while the post-issue P/E ratio is 27.34x. The company's ROCE for FY24 is 17.73% and RoAE for FY24 is 25.58%. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Khyati Global Ventures showing potential listing gains of 0%. Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the Khyati Global Ventures Limited IPO for Listing gain or long term investment purposes.

Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. 

About the Author
CA Abhay Kumar (Also known as CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms during the training period. He is good at Technical analysis and Fundamental Analysis and uses both Technical and Fundamental analysis along with five other important factors that affect the movement of the Market namely Global Market Analysis, Upcoming Event Analysis, Institutional Money Analysis, Derivative Data Analysis, and Emotions and Sentiment of Traders and Investors in his Framework called - Technical Fundamental GUIDE to find the winning Trades.
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