Would you please share the investment thesis for Bajaj steel?

I completely agree with the views as promoters tried to manipulate the share price in last bonus issue and rigged it till 80 levels now again same game started but now I think it would go to 20 levels as other than retailers no body is interested in buying. I bet who will give them 1000Cr through QIP.
They do all undisclosed transactions with unknown small entities, actual existence of those entities is also questionable but they don’t disclose valuations of acquisitions, all these things are just routing money through acquisitions

Eureka Forbes

• Volume growth & Strong sales growth for their Product business – High teens growth

• Water purifiers has picked up for Eureka. Well placed wrt Price points for various variants.

• Innovations via new management. Has doubled R&D – 2x life is gaining traction – market share gains too. Very innovative. Steel tanks vs legacy plastic storage tanks in water filter.

• A&P spends grew FY24. Operating leverage as a key source.

• AMCs ownership vs legacy service technicians taking ownerships.

• Business operates with a -ve working capital. (Cash and carry model largely)

(Eureka has lost market share in the past. Management has turned around some of the lost grounds. Otherwise eureka has been slow to act in the past)

• health conscious Consumption as a theme.

• Many utility enablers will help the water purifier category.

• Penetration can double in next 5Y

• Clean Water as a theme given the ambition to have clean water at home and ppl picking up new variants for newer homes.

• Newer homes will like the new innovations by eureka (Slim tech, Insta Blaze for Green tea lovers, under the counter offering with wheels)

• Competition was very active during the last 2 decades Kent LG Dyson
  caused havoc to eureka’s market share.

• Do Note Aquaguard has a top-of-mind awareness.

Other categories

• Robotics : can chart same trajectory as Washing machines. Eureka is market leader in robotics. 2x’ed revenues. BIS implementation is about 6 months.
• Air purifiers : Won’t say much coz i just saw the air quality first hand entering delhi this morning.
• Vacuum cleaners : need for VCs is slowly but surely changing. Augers well with new office spaces opening up too as they also use VCs.

I think today’s beating of stock was out of proportion.

Hammering stock below the BV, & to it’s 52 W low.

I have seen this stock in past when it was garnering revenues of under 8k cr with NPAs in terms of percentage level equivalent or worse than today.
Yet trading at better valuations.

It looks like no one wants to touch this stock at any value.