Whalesbook
Dekho, 2026 ka pehla quarter tha, jab Indian stock market mein paison ka flow ekdum ulta tha. Foreigners yaani FIIs ne lagbhag ₹1.17 lakh crore ke shares bech diye, samajh lo market se bhaag rahe the. Lekin hamare desh ke mutual funds wale, yaani DIIs, ne iske bilkul opposite, ₹2.25 lakh crore laga diye. Aam taur par jab aisa hota hai toh investors ke views alag hote hain, risk lene ka tarika bhi. Par yahan ek dhamakedaar baat hui - 5 companies aisi nikli jahan FIIs aur DIIs dono ne kharidari ki. Jab market mein itna caution ho aur log paisa nikaal rahe hon, tab bhi sabki nazar in 5 stocks par thi, matlab pakka kuch khaas hoga inmein.
Sabse pehle baat karte hain Vishal Mega Mart ki. Company ne apne stores 795 tak pahuncha diye hain aur unke khud ke brands se 74% revenue aa raha hai FY26 mein. Sales 20.44% badhkar ₹12,906 crore ho gayi, aur profit toh 32.8% uchaal maar kar ₹839 crore tak pahunch gaya. ROCE 14.8% hai, jo industry ke median se thoda upar hai. Lekin, yahan ek badi 'par' hai - inka P/E ratio 66.3x hai, jo industry median 45.5x se kaafi zyada hai. PEG ratio bhi 1.7x hai. Kuch analysts ₹130-140 ka target de rahe hain, par stock abhi ₹119 par chal raha hai.
Phir aata hai GRM Overseas, jo basmati chawal aur FMCG mein hai. Goal hai FY28 tak ₹2,000 crore domestic revenue ka. 9MFY26 mein sales 11.3% badhkar ₹1,199 crore hui, aur profit 30.1% badh ke ₹53 crore ho gaya. ROCE 13.5% hai, industry median 14.2% se thoda kam. Stock ka P/E 48.2x hai, jo FMCG sector median 19.4% se bohot upar hai. Haan, India ka packaged food market ₹17.3 trillion tak jaane wala hai FY29 tak, toh support toh hai. Stock abhi ₹171 ke aas paas hai.
Next hai Aditya Infotech, CP Plus brand ke liye mashoor. Ye log capacity badha rahe hain aur Qualcomm ke saath AI products par kaam kar rahe hain. December 2025 tak 9 mahine mein sales 31% badhi ₹2,799 crore tak, aur profit 138.6% uchaal maar gaya. ROCE 19.5% jabardast hai. Lekin yahan P/E 114.4x hai, jo industry median 32.9% se bahut hi zyada. Kuch analysts ₹2,018.25 ka average target de rahe hain, jo current price ₹2,464 se kam hai, matlab potential downside bhi hai. Lekin kuch dusre data points 'Strong Buy' keh rahe hain. Confusion hai bhai.
Stallion India Fluorochemicals bhi high-value markets mein entry maar raha hai HFO production aur liquid helium sourcing ke saath. FY26 mein sales 14.1% badhkar ₹430.7 crore hui, profit 35.6% badh gaya. ROCE 11.8% industry median 17.6% se piche hai. P/E 37.3x industry median 38.1x ke aas paas hai, par ROCE ka thoda pichadna concern hai.
Aur last mein Ujjivan Small Finance Bank. Q4FY26 mein deposit 21% aur loan book 27% badhi. Net interest income 26.4% badha Q4 mein, par poore FY26 ka profit 4.6% gira tha. ROCE 7.74% hai, industry median se kaafi kam. P/E 15.7x industry median 15.8x ke barabar hai. Lekin low ROCE aur profit mein kami note karne wali hai. Phir bhi, analysts 'Strong Buy' bol rahe hain aur achhe upside ke targets de rahe hain. Stock abhi ₹55.83 par hai.
Toh overall picture kya hai? FIIs ka sell-off bata raha hai ki bahar ke investors thoda risk se bach rahe hain. Aur jahan in 5 stocks par dono ka interest hai, wahan growth ki kahaniyan suni ja rahi hain, par valuations already bahut zyada hain. Vishal Mega Mart ka P/E 66.3x aur Aditya Infotech ka 114.4x se bhi upar hai, matlab expectations bohot high hain. GRM Overseas ka P/E bhi sector se upar hai. Stallion India ka ROCE kam hai. Ujjivan SFB mein bhi ROCE kam hai aur pehle profit mein kami aayi thi. Promoter holdings bhi Vishal Mega Mart, GRM Overseas, aur Stallion India mein kam hui hai, jo investors ko sochne par majboor kar sakta hai.
Aage kya hoga? In companies ko apni growth plans ko execute karna hoga competition aur demand ke beech. Retail aur FMCG mein growth hai, par competition bhi. Surveillance sector AI se badhne wala hai, par high valuations limit kar sakte hain. Small finance banks ko financial inclusion se fayda hoga, par asset quality aur profit ko manage karna hoga. Market dekhi ki ye institutional buying kaam karti hai ya fir ye mehenge valuations correction ko bulate hain.