Friday, May 25, 2018

Nationwide strike by bank employees on 30th, 31st May

Employees and officers of various state-run banks have called for a two- day nationwide strike from May 30 to protest a nominal 2 per cent wage hike offered by the Indian Banks' Association. 

Wage revision is due since last Nov.


Thursday, May 24, 2018

Indiabulls Housing to raise Rs 15000 Cr through NCDs

Indiabulls Housing Finance has plans to raise up to Rs 15,000 crore by issuing bonds through a public issue.

The unsecured redeemable NCDs will be in the nature of subordinated debt and will be eligible for tier II capital.

The NCDs are proposed to be listed on the exchanges.


IOC's profit soar by 40%

 Indian Oil Corporation has posted 40 per cent year-on-year rise in profit at Rs 5,218 crore for the quarter ended March 31. It had posted a net profit of Rs 3721 crore in the corresponding quarter last year. 

Revenue from operations jumped 12.29 per cent year-on-year to Rs 1.37 lakh crore in Q4 FY18 from Rs 1.22 lakh crore in Q4 FY17. 

IPO ANALYSIS: - Debock Sales and Marketing Limited Avoid


Issue Details :


Issue opens  / closes on
24-05 / 28-05-2018
Issue size
22,20,000 equity shares
Face value
Rs 10
Price
Rs 20
Business
Mfrs and traders of agri equipments
Promoters
. MUKESH MANVEER SINGH
Listings
Nse, emerge
BRLM
Gretex Corp Services
Registrar
Cameo Corp Services

Tuesday, May 22, 2018

SBI gains 5%,despite phenomenal loss in Q4

State Bank of India has reported a whopping Rs 7,718 crore loss for March quarter as bad provisions doubled to Rs 22,096 crore from Rs 11,740 crore in the same quarter last year. NPA provisions stood at Rs 18,876 crore for December quarter. 

The PSU bank had reported net loss of Rs 3,442 crore in the corresponding quarter last year. 

SBI shares gained 5% and closed at Rs 256 in today's trade.

IPO ANALYSIS: Latteys Industries limited - Avoid


Issue Details :


Issue opens  / closes on
23-05 / 28-05-2018
Issue size
12,22,000 equity shares
Face value
Rs 10
Price
Rs 66
Business
Mfrs of pumps
Promoters
Kapoorchand Garg, Pawan Garg
Listings
Nse, emerge
BRLM
Pantomath Capital
Registrar
Link Intime

Bhushan Steel take over : NCLAT refuses to stay Tata Steel's acquisition

Image result for tata steel


National Company Law Appellate Tribunal has declined to stay Tata Steel's acquisition of debt-laden Bhushan Steel under the corporate insolvency resolution process.

An NCLAT bench headed by Chairman Justice S J Mukhopadhaya also issued notices to Tata Steel, the resolution professional and Committee of Creditors of Bhushan Steel on a petition filed by its promoter Neeraj Singal challenging the sale.

Tata Steel stock closed at Rs 576, down 2% in yesterday's trading.

IPO ANALYSIS: SUUMAYA LIFESTYLE LIMITED - AVOID



Issue Details :


Issue opens  / closes on
22-05 / 25-05-2018
Issue size
76,88,000 equity shares
Face value
Rs 10
Price
Rs 18
Business
Mfrs / traders of clothes, dress materials, suits.
Promoters
Ms
Ishita Mahesh Gala and
Indiacredit Risk Management LLP

Listings
Nse, emerge
BRLM
Gretex Corp Services
Registrar
Bigshare

IPO ANALYSIS: ARIHANT INSTITUTE LIMITED - AVOID



Issue Details :


Issue opens  / closes on
23-05 / 28-05-2018
Issue size
25,00,000 equity shares
Face value
Rs 10
Price
Rs 30
Business
Coaching  & educational  guidance for students  appearing for professional
courses.

Promoters
Sandip Vinodray Kamdar
,Vinodray Keshavlal Kamdar,
Maduben Vinodray Kamdar / others

Listings
Bse, sme
BRLM
Monarch Networth Capital
Registrar
Karvy

ICRA : India's growth pegged at 7.4 percent in q4

Image result for icra


Rating agency Icra expects GDP growth in January-March 2017-18 at 7.4 per cent on account of good rabi crop harvest and improved corporate earnings, up from 7.2 per cent in the third quarter. 

The Central Statistics Office  is scheduled to come out with GDP estimate for the fourth quarter (Q4) of fiscal 2017-18 and provisional annual estimates for the year 2017-18 on May 31.

Indostar Capital Finance closes at Rs 13 premiuim

Shares of Indostar Capital Finance were listed on the exchanges yesterday. As against the IPO price of Rs 272, the stock closed at Rs 285, up Rs 13. Trading volumes and delivery percentage indicates, the stock is likely to gain in today's trade too.

Moody's downgrade PNB

Image result for pnb

Rating agency Moody’s have downgraded the rating for Punjab National Bank to “Ba1’’ from “Baa3’’ due to the negative effect of fraudulent transactions /scam on capital position and asset quality.
At the same time, Moody's has downgraded the bank's baseline credit assessment and Adjusted BCA to b1 from ba3.

Thursday, May 17, 2018

IPO ANALYSIS: SIRCA PAINTS INDIA LIMITED - AVOID


Issue Details :


Issue opens  / closes on
16-05 / 18-05-2018
Issue size
48,69,600 equity shares
Face value
Rs 10
Price
Rs 51-160
Business
Marketing and trading/distributor of paints and allied products after repackaging the sam
Promoters
SANJAY AGARWAL, MR. APOORV AGARWAL & MR. GURJIT SINGH BAINS
Listings
Nse merge
BRLM
NAVIGANT CORPORATE ADVISORS LIMITED
Registrar
Karvy

PNB, UBI, Canra to come under PCA?

Three more public sector banks -PNB, Canara Bank and Union Bank of India may come under Reserve Bank of India’s prompt corrective action framework.

All three have net non-performing assets  above 6 per cent, a trigger for the RBI to consider putting a lender under PCA to restore their health.

Saturday, May 12, 2018

Indostar Capital Finance IPO subscribed 6.8 times

Indostar Capital Finance IPO which closed for subscription on Friday has been subscribed by 6.8 times. QIB portion 16 times, Non Institutional Investors 7 and retail portion 1.38 times.

Flipkart IPO may happen in 2022

Walmart may push for Flipkart IPO in 2022. Walmart recently announced that it would pay $16 billion for a roughly 77% stake in Flipkart, valuing the company at a little less than $21 billion. Walmart going public is subject to minority share holders approval.

RBI imposes fresh restrictions on Dena Bank

Image result for pca dena bank


Dena Bank, which is under RBI’s Prompt Corrective Action, has now been barred from taking fresh credit exposure and also recruitment of staff.

The latest directive from the central bank was taken note by the board  at its meeting on May 11.