40+ HIGH RELATIVE STRENGTH + GROWTH STOCKS TO STUDY, TRACK & RESEARCH 🧗‍♀️🚀 ▪️ Timex Group ▪️ MCX ▪️ Vikram Thermo ▪️ Sedemac Mechatronics ▪️ Fujiyama Power ▪️ TD Power Systems ▪️ Cupid ▪️ Inox India ▪️ Precision Wires ▪️ Steelcast ▪️ Apar Industries ▪️ Quality Power Electrical ▪️ MSTC ▪️ ESDS Software ▪️ Kamdhenu ▪️ Global Education ▪️ Premier Polyfilm ▪️ Aditya Infotech ▪️ Krishana Phoschem ▪️ Sky Gold & Diamonds ▪️ Shivalik Bimetal ▪️ Shreeji Shipping Global ▪️ KMC Speciality ▪️ Centum Electronics ▪️ Diamond Power ▪️ Quess Corp ▪️ Ram Ratna Wires ▪️ Welspun Corp ▪️ Shining Tools ▪️ Canarys Automations ▪️ T B Z ▪️ Uniparts India ▪️ Namo eWaste ▪️ Bhatia Communications ▪️ Venus Pipes ▪️ Sri Lotus ▪️ Anlon Healthcare ▪️ GNG Electronics ▪️ Bhagyanagar Industries ▪️ Pearl Global Industries ▪️ Antelopus Selan ▪️ Sai Life ▪️ Park Medi World ▪️ M B Agro Products ▪️ Avalon Technologies ▪️ Filatex India ▪️ Hemant Surgical 🔎 HOW TO USE THIS LIST This is not a buy list. The purpose is to create a research universe of stocks where price strength and/or growth characteristics deserve deeper investigation. For every company, study: ▪️ Business model & industry ▪️ Revenue and earnings growth ▪️ ROCE / ROE ▪️ Debt and cash flows ▪️ Promoter holding & pledge ▪️ Capacity expansion & order book ▪️ Valuation ▪️ Management commentary ▪️ Technical structure & volume ▪️ Future growth triggers and key risks High relative strength can indicate that a stock is outperforming its benchmark, but momentum can also reverse sharply. Current screening methodologies similarly caution that technical strength should be combined with trend, volume and risk controls. Study. Track. Research. Don't blindly follow. Disclaimer: This is only a study/research list and not a buy or sell recommendation. Do your own research.

HIGH RELATIVE STRENGTH STOCKS TO STUDY & TRACK 🔥🔥🔥 ▪️ Raymond ▪️ Kopran ▪️ Yash Highvoltage ▪️ Xtranet Technologies ▪️ Valiant Organics ▪️ ACME Solar Holdings ▪️ Sigma Advanced Systems ▪️ Rossell Techsys ▪️ Quadrant Future Tek ▪️ Bhageria Industries ▪️ Kamdhenu ▪️ Patil Automation ▪️ Yatharth Hospital ▪️ Venus Pipes ▪️ Prime Focus ▪️ Centum Electronics ▪️ Shilpa Medicare ▪️ Filatex India ▪️ Neetu Yoshi ▪️ Vardhman Special Steels ▪️ Welspun Living ▪️ Continental Securities ▪️ Ratnaveer Precision Engineering ▪️ Sri Lotus Developers and Realty ▪️ Aarey Drugs & Pharmaceuticals ▪️ Morepen Laboratories ▪️ KMC Speciality ▪️ SMS Pharmaceuticals ▪️ Hemant Surgical Industries ▪️ Unimech Aerospace ▪️ Talbros Automotive Components ▪️ Laurus Labs ▪️ Airfloa Rail Technology ▪️ Welspun Corp ▪️ Syrma SGS Technology ▪️ Timex Group India ▪️ Sansera Engineering ▪️ Sakar Healthcare ▪️ Birla Cable ▪️ Kwality Pharmaceuticals ▪️ Apar Industries ▪️ Aegis Logistics ▪️ NRB Bearings ▪️ Tourism Finance Corporation of India ▪️ Shadowfax Technologies High relative strength basically means a stock is showing stronger price performance compared with its benchmark or broader market. It can be useful for identifying stocks showing market leadership and building a momentum-oriented watchlist. But high relative strength does not automatically mean the stock will continue to rise. A strong chart should be combined with business quality, earnings growth, valuation, sector strength, volume, price structure and risk management. Disclaimer: This is a research/watchlist only. Study, track and research these companies before taking any investment decision. Not a buy/sell recommendation. DYOR.

10 QUALITY SME HEALTHCARE COMPANIES TO STUDY, TRACK & RESEARCH 👨‍⚕️🧪 ▪️ Kwick Forensic Solutions ▪️ Q-Line Biotech ▪️ Avience Biomedicals ▪️ Bio Medica Laboratories ▪️ Remus Pharma ▪️ Accent Microcell ▪️ Influx Healthtech ▪️ Aptus Pharma ▪️ KRM Ayurveda ▪️ Accretion Nutraveda WHY HEALTHCARE? Healthcare is one of the sectors that can have relatively resilient, structural demand because healthcare requirements continue across different economic cycles. ▪️ Demand for medicines, diagnostics, medical products and healthcare services is recurring in nature. ▪️ India's healthcare industry is being supported by factors such as an ageing population, rising lifestyle diseases, increasing healthcare awareness, technology adoption and a growing middle class.  ▪️ India's healthcare delivery, pharmaceutical retail, diagnostics and medical-device segments have all expanded over recent years, with further growth projected across these segments.  ▪️ Recent industry data also points to continued growth in hospitals and diagnostics, supported by patient volumes and capacity additions.  For SMEs, however, sector tailwinds alone are not enough. We should separately study revenue growth, margins, debt, cash flows, promoter holding, working capital, capacity expansion, regulatory risks, customer concentration and valuation. Disclaimer: This is a research list, not a recommendation. Study, track and research the companies before taking any investment decision. Not a buy/sell recommendation. DYOR.

QUALITY EMS STOCKS TO STUDY & TRACK ▪️ Merritronix ▪️ Syrma SGS Technology ▪️ Avalon Technologies ▪️ Aimtron Electronics ▪️ Aequs ▪️ Virtuoso Optoelectronics ▪️ Sedemac Mechatronics ▪️ Sigma Advanced Systems ▪️ Data Patterns (India) ▪️ Astra Microwave Products ▪️ Paras Defence ▪️ E2E Networks ▪️ Netweb Technologies ▪️ Sahasra Electronic Solutions ▪️ PG Electroplast ▪️ Dixon Technologies ▪️ Kaynes Technology EMS — A Structural Growth Theme India’s Electronics Manufacturing Services (EMS) sector is expanding rapidly, driven by rising electronics demand, localisation, global supply-chain diversification and increasing outsourcing by OEMs. Disclaimer: The companies mentioned are for educational study and tracking purposes only, not buy/sell recommendations.

30+ EXCELLENT STOCKS FROM NIFTY SME EMERGE INDEX TO STUDY & RESEARCH (PART - 2) 🔥🔥🔥 ▪️ Namo eWaste ▪️ Anlon Tech ▪️ E to E Transportation ▪️ Committed Cargo ▪️ Blue Water ▪️ Supreme Power ▪️ HP Telecom ▪️ Connplex Cinemas ▪️ Taurian MPS ▪️ Apex Ecotech ▪️ Simca Advertising ▪️ Avana Electrosystems ▪️ Acetech E-Commerce ▪️ Optivalue Tek ▪️ Grover Jewells ▪️ Akiko ▪️ Shera Energy ▪️ Arham Tech ▪️ Infinium Pharma ▪️ Purple United Sales ▪️ Shreeji Global ▪️ Adisoft Technologies ▪️ Sheetal Universal ▪️ Divine Hira Jewellers ▪️ P S Raj Steels ▪️ Forcas Studio ▪️ Madhusudan Masala ▪️ Ecoline Exim ▪️ Sar Televenture ▪️ United Heat Transfer ▪️ Hoac Foods WHY TRACK THE NIFTY SME EMERGE INDEX? The Nifty SME EMERGE Index is designed to represent eligible small and medium-sized companies listed on the NSE EMERGE platform. The index constituents are weighted based on free-float market capitalisation and the index is reconstituted quarterly. For us, the index is not simply about following the index level. It can also act as a research universe to identify businesses that deserve deeper fundamental and technical study. ▪️ Study the business model ▪️ Track revenue and earnings growth ▪️ Check cash flows and debt ▪️ Monitor promoter holding and governance ▪️ Understand the industry opportunity ▪️ Track capacity expansion and execution ▪️ Compare valuation with growth ▪️ Watch price action and liquidity ▪️ Follow management commentary and future guidance Not every SME stock will perform well. The objective is to identify quality businesses, study them in depth and track their evolution over time. This is Part 2 of our Nifty SME Emerge research list. We will continue to track these companies and share our observations as the business fundamentals and market conditions evolve. Study. Track. Research. Don't blindly follow. 📚📊 Disclaimer: This is a research and tracking list only and not a buy/sell recommendation. SME stocks can involve higher volatility, lower liquidity and higher risk. Please do your own research

QUALITY SMALL-CAP STOCKS TO STUDY, TRACK & RESEARCH 📖📗 ▪️ Lumax Auto ▪️ Syrma SGS Technology ▪️ Quality Power ▪️ Aditya Infotech ▪️ Yatharth Hospital ▪️ Viviana Power ▪️ V2 Retail ▪️ Manorama Industries ▪️ Maxvolt Energy ▪️ Prizor Viztech ▪️ S J S Enterprises ▪️ Fiem Industries ▪️ Sansera Engineering ▪️ Dr. Agarwal's Health Care ▪️ Frontier Springs ▪️ Krishna Defence ▪️ SML Mahindra ▪️ TD Power Systems ▪️ Apollo Micro Systems ▪️ Vintage Coffee ▪️ Shringar House of Mangalsutra ▪️ Pricol ▪️ BlackBuck ▪️ Tenneco Clean Air ▪️ Netweb Technologies ▪️ Knowledge Marine ▪️ CCL Products ▪️ Astra Microwave Products ▪️ Atlanta Electricals ▪️ Acutaas Chemicals ▪️ Senores Pharmaceuticals 🔍 WHAT TO LOOK FOR The idea behind this list is simple - don't just track the share price. Track the business. ▪️ Revenue and earnings growth consistency ▪️ Order book and future growth visibility ▪️ Capacity expansion and utilisation ▪️ New products and new customers ▪️ Promoter holding and corporate governance ▪️ Debt and working-capital requirements ▪️ ROCE/ROE and cash-flow quality ▪️ Margin sustainability ▪️ Industry growth opportunity ▪️ Management guidance versus actual execution ▪️ Valuation compared with growth ▪️ Technical structure and price behaviour Some of these companies have already attracted institutional attention or are being tracked for growth plans, but institutional ownership or market momentum should be treated only as one data point, not as a standalone investment thesis. THE IDEA Small-cap investing is not about finding one stock that will definitely become a multibagger. It is about building a research pipeline. Study the business → understand the industry → track execution → monitor quarterly developments → check valuation → watch price behaviour → and then decide whether the opportunity still makes sense. Don't chase the stock after the story becomes popular. Try to understand the business before the crowd starts talking about it. Disclaimer: No stock mentioned above is a buy/sell recommendation. This is a research and tracking list only.

7 SME #IPO BASE BREAKOUT STOCKS TO STUDY & TRACK 🔥🧵📊 All charts are given below in the thread. 👇📊 ▪️ Adisoft Technologies - Strong recovery from the base; now approaching the major ₹250–₹280 supply zone. Breakout watch. ▪️ E to E Transportation Infrastructure - Breakout above the previous IPO/base zone followed by strong momentum. Currently retesting the breakout area. ▪️ FlySBS Aviation - Strong move from the base and now approaching the ₹700–₹790 supply zone. Breakout watch. ▪️ KVS Castings - Breakout above the ₹80–₹86 base zone and currently sustaining around the breakout area. ▪️ Marushika Technology - Price has recovered strongly from lower levels and is now testing the ₹115–₹123 IPO supply zone. ▪️ Novus Loyalty — Clear breakout above the previous ₹190–₹198 base zone and currently sustaining above the breakout. ▪️ Propshop Events & Exhibitions — Price has recovered back towards the ₹74–₹80 resistance/supply zone. 📌 WHAT TO WATCH The important part is not simply identifying a breakout. Breakout → Sustain → Retest → Continuation If price successfully breaks the important supply zone and sustains above it, the structure can become more interesting. If it gets rejected, falls back below the breakout zone or starts forming a failed breakout, the setup needs to be reassessed. Study the chart, understand the IPO base, identify the breakout zone, observe the retest and then track how price behaves. Study. Track. Research. 📚📈 CHART 1: E to E Transportation Infrastructure Disclaimer: These are chart-based observations shared purely for educational and research purposes. Not a buy/sell recommendation. Please do your own research and follow proper risk management.

BSE SME IPO INDEX - CHEAP VALUATION EVEN AFTER THE RALLY? 👀🔥 One interesting thing - the BSE SME IPO Index is its current valuation. The index is currently trading at around 13.2x P/E, even after the strong rally in the SME space. Now look at the historical valuation chart: ▪️ Around August 2021, the index P/E was approximately 13.4x. ▪️ Around the 2020 period and before that as well, the P/E was more than 14x. And today? The index is still around 13.2x. That means the SME index is trading at a valuation level that is below the levels seen around the COVID-era period, despite the significant recovery and rally that has happened since then 📊📈 Now look at the price chart. The BSE SME IPO Index is again approaching its previous high/resistance zone, and the chart appears to be getting close to a potential breakout area. If a breakout happens and sustains, the entire setup could become very interesting. But the real question is: WHAT DO YOU THINK SME STOCKS WILL DO OVER THE NEXT 6–8 MONTHS? 🤔 ▪️ Strong continuation of the rally? ▪️ A major breakout and another leg of momentum? ▪️ Or a valuation-led correction/consolidation? Let me know your view in the comments. 👇 Disclaimer: This is purely an observation for discussion and research, not a prediction or recommendation. No recommendation. DYOR.

TEMPSENS INSTRUMENTS - 2-3 MINUTES CONCALL READ 🥇🔥📊 Tempsens is building itself as an engineered thermal-solutions company rather than a conventional commodity manufacturer. The broader idea is simple: the company can measure temperature, generate/control heat and connect these systems through specialised cables. What makes the model interesting is that the same industrial customers can potentially buy multiple products from Tempsens, creating cross-selling opportunities and stronger customer relationships. BUSINESS MODEL - THREE CORE ENGINES 🚂 ▪️ Temperature Sensing Solutions — ~45% of FY26 mix Includes thermocouples, RTDs, thermowells, IR pyrometers and online thermal imaging solutions. Management highlighted its strong position in India, with approximately 10.5% share in contact temperature sensing and ~21% in non-contact sensing. ▪️ Specialised Cables — ~35% The company focuses on engineered, application-specific cables rather than commodity cables. Products include high-temperature instrumentation/control cables, LV power cables, mineral-insulated metal-sheathed cables and nickel-alloy conductor solutions. ▪️ Electrical Heating Solutions — ~21% Includes process and component heating, industrial/laboratory furnaces and newer opportunities such as medium-voltage heaters. The important point is that these three businesses can address different requirements within the same plant or industrial customer, creating a potential cross-selling advantage. WHY THE BUSINESS CAN HAVE A MOAT ⚔️ ▪️ Backward integration: Tempsens manufactures its own alloys and mineral-insulated cables used in its sensors, heaters and specialised cable products. ▪️ Qualification barrier: Many of its products are used in critical applications where safety and reliability matter. Vendor approvals can take years, creating switching costs once a product is qualified. ▪️ Management indicated that one successful qualification can make subsequent product approvals easier with the same customer. ▪️ The products may represent a relatively small portion of a customer's overall plant capex, but failure can result in downtime, safety issues and operational disruption. This makes reliability more important than simply choosing the cheapest supplier. ▪️ Management estimates approximately 75–90% of revenue comes from critical applications, although competitive intensity varies by segment. CUSTOMER & REVENUE PROFILE 👨‍🦰 ▪️ Around two-thirds of revenue comes from projects and OEMs, while roughly one-third comes from replacement business, providing a recurring component. ▪️ No individual end market contributes more than 22% of revenue, reducing dependence on a single industry. ▪️ Top 10 customers accounted for only around 19% of FY26 revenue. ▪️ The company has customers with more than 10 years of relationships, including within its top 20 customer base. ▪️ Tempsens sells across 80+ countries, with exports growing strongly over FY24–FY26. THE BIG SHIFT — OEM BUSINESS 🌊 One of the most important points from the call was the company's planned shift towards OEM customers. Historically, OEM contribution has been relatively small, but management now sees OEMs as an important scale driver. The focus areas include: ▪️ New energy ▪️ Automotive ▪️ Plastics ▪️ CVT equipment ▪️ Other industrial equipment manufacturers Management expects OEMs + new products to contribute more than 25% of revenue starting FY28. This is important because traditional industrial projects generally provide around 4–4.5 months of order visibility, whereas OEM programs can provide approximately 9–12 months of visibility, along with potential multi-year contracts. FOUR MAJOR CAPACITY EXPANSIONS 📈 Management has outlined four major projects between Q4 FY27 and Q3 FY28. Combined, these projects have a stated peak revenue potential of around ₹500 crore at full utilisation. Important: management specifically clarified that this is potential at full utilisation, not revenue guidance. 1. OEM CONTACT SENSORS A new 50,000 sq ft brownfield facility is being developed for OEM-focused contact sensors. ▪️ Target commissioning: Q3 FY28 ▪️ Peak potential: approximately ₹120 crore This is aimed at increasing the company's ability to serve larger OEM programs. 2. ELECTRICAL HEATING + MEDIUM-VOLTAGE HEATERS The heating business is becoming a major growth area. ▪️ Around 25,000 sq ft additional space planned for custom-built furnaces during the year. ▪️ The company is also developing medium-voltage heaters up to 15 MW. These can potentially serve applications such as: ▪️ Carbon capture ▪️ Battery storage ▪️ Green hydrogen ▪️ Large industrial process heating Management sees this as a relatively less crowded segment and believes its engineering and integration capabilities provide a potential competitive advantage. The product has been tested up to the level mentioned by management, with explosion-proof certification targeted by Q4 FY27. A separate 50,000 sq ft Unit 6 is expected to be commissioned in Q1 FY28, with peak potential of approximately ₹200 crore. 3. SPECIALISED CABLES + CABLE HARNESSES Management does not consider the recent weakness in specialised cables a structural problem and attributed the movement largely to timing of export orders. The company is now entering specialised cable harnesses for OEMs, with UL certification. The focus is not on ordinary harnesses but on applications requiring operation in: ▪️ Extreme temperatures ▪️ Hazardous environments ▪️ Mission-critical industrial conditions A new Unit 8 greenfield facility is under construction. ▪️ Expected completion: Q2 FY28 ▪️ Peak potential: approximately ₹60 crore Management expects the facility to be capable of ramping relatively quickly once demand comes in. 4. VICTURA TECHNOLOGIES JV The JV is another interesting growth avenue. The focus is on electrical heating cables for commercial vehicles, with the objective of supporting lower emissions. ▪️ 80,000 sq ft facility being acquired ▪️ Shed already constructed ▪️ Production targeted: Q4 FY27 ▪️ Peak potential: approximately ₹120 crore This gives Tempsens an additional entry point into the automotive heating ecosystem. FIVE-YEAR FURNACE CONTRACT 🔥 Another important development is a five-year supply agreement with a life-sciences OEM for standard furnaces. This is significant because it moves the business towards longer-duration customer relationships and provides better visibility than purely project-based orders. EXPORT EXPANSION International growth remains another major focus. The company is looking to deepen its presence across: ▪️ Middle East ▪️ Southeast Asia ▪️ Europe ▪️ North America New markets specifically highlighted include: Mexico, Poland and South Korea. The company is also working towards additional global vendor approvals, particularly in oil & gas, while pursuing approvals in defence and aerospace domestically. ACQUISITIONS — INTEGRATION MATTERS 📊 The international acquisitions have already increased the company's geographical reach and export contribution. The next important stage is integration and scaling these acquired businesses. The key thing to watch is whether the acquired platforms can generate meaningful cross-selling opportunities with Tempsens' existing product portfolio. MANAGEMENT'S NEAR-TERM GROWTH LEVERS 📈 Management broadly highlighted four major levers: ▪️ OEM expansion - moving from smaller OEM contribution towards larger, repeat programs. ▪️ International expansion - entering new geographies and scaling existing overseas operations. ▪️ Certifications & approvals - especially in oil & gas, defence and aerospace. ▪️ New products & partnerships - medium-voltage heaters, cable harnesses, Victura JV, furnaces and other specialised thermal solutions. WHAT I WOULD TRACK GOING FORWARD For me, these are the most important checkpoints: ▪️ OEM contribution and whether it crosses the targeted 25%+ of revenue from FY28 ▪️ Execution of the four capacity projects ▪️ Utilisation of the new facilities ▪️ Medium-voltage heater commercialisation ▪️ Explosion-proof certification targeted for Q4 FY27 ▪️ Cable harness customer additions ▪️ Victura JV production commencement in Q4 FY27 ▪️ Export growth and new geography ramp-up ▪️ Integration of acquired overseas businesses ▪️ Oil & gas, defence and aerospace approvals ▪️ Whether the new capacity converts into actual orders and revenue rather than remaining only potential capacity THE BIG PICTURE The interesting part of Tempsens is that the company is gradually moving beyond its traditional thermal-sensing business. The broader opportunity is becoming: Temperature Sensing → Electrical Heating → Specialised Cables → OEMs → New Products → Global Markets If execution goes according to management's plan, the OEM transition, new capacity, medium-voltage heaters, cable harnesses, international expansion and Victura JV could become important growth drivers over the next few years. At the same time, the ₹500 crore combined peak potential should be treated as capacity potential and not as a guaranteed revenue outcome. The next few quarters will therefore be important to see how quickly the new capacity gets commissioned, orders start flowing and utilisation improves. Disclaimer: This post is for educational and informational purposes only and is based on publicly available company disclosures/concall commentary. It is not a buy/sell recommendation or investment advice.