Nirmal Bang


Founded in 1986 by Nirmal Bang (, the Nirmal Bang Group is recognized as one of the largest retail broking houses in India, providing an array of financial products and services. Their retail and institutional clients have access to products such as equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS. The Group is headed by Mr. Dilip Bang and Mr. Kishore Bang.

Articles by Nirmal Bang

Sept. 18, 2018, 11:12 a.m.

With the Indian economy gaining momentum, the management expects the consumer durable industry to sustain its healthy growth rate. The size of the industry is likely to double in the next five years from the current level of Rs400bn (share of urban market is 65%).

Sept. 14, 2018, 12:12 p.m.

IRCON is being offered at a valuation of 10.9x FY18 (vs. Pvt road EPC companies' average of 19.3x).

Aug. 17, 2018, 12:17 p.m.

Revenue from operations for the company grew by 34% YoY to Rs. 778 Cr vs Rs. 582 Cr in Q1FY18 and Rs. 721 Cr in Q4FY18 (up 8%).

Aug. 17, 2018, 11:13 a.m.

Uflex Ltd. reported a good set of numbers in Q1FY19. Sales for the quarter increase by 17.4% YoY to Rs 1904.9 Cr.

July 18, 2018, 1:18 p.m.

Over FY16-18, TCNS sales, EBITDA, PAT has grown at a CAGR of 31.4%, 43.5% & 57.3%. Going forward, branded ethnic market which was valued at $1.5 bn in 2017, is expected to reach $3.4 bn in 2020(CAGR growth of 31%).

June 26, 2018, 11:53 a.m.

Varroc is the 6th largest global automotive lighting company and the 2nd largest in EV lighting. Thus it is ideally placed to capture the migration within the automotive lighting industry from halogen/xenon to LED. Over 2014-16,

June 22, 2018, 11:28 a.m.

Over, FY12- FY18, sales has grown at a CAGR of 35.6%, and, Ebitda has grown at a CAGR of 33.1% driven by both organic and inorganic growth.

June 20, 2018, 10:37 a.m.

Fine Organics Industries has shown consistent growth in sales as well as profitability. It caters to wide variety of industries from Petrochemicals to Foods.

June 5, 2018, 1:57 p.m.

We expect Uflex’s revenues to grow at 11.5% CAGR from FY18-20E and EBITDA to grow at 16.6% during the same period. PAT is expected to grow at 30.5% CAGR during the same period. ROE is expected to improve from 7.8% in FY18 to 10.8% in FY20E and ROCE shall improve from 8.6% in FY18 to 11.4% in FY20E.

April 19, 2018, 10:10 a.m.

Sequent Scientific (SSL) has announced its acquisition of Bremer Pharma, Germany, on 17 April 2018.