Thursday, September 21, 2017

Fed Reserve keeps rate unchanged

US Federal Reserve left interest rates unchanged on Wednesday but signalled it still expects one rate hike by the end of the year despite recent weak US inflation readings.

New economic projections released after the US Fed’s two-day policy meeting showed 11 of 16 officials see the appropriate level for the federal funds rate, the central bank’s benchmark interest rate, to be in a range between 1.25% and 1.50% by December 2017.

FORTH COMING IPO : Lemon Tree Hotels Limited



Issue opens / closes on

Issue size
19,57,97,000 equity shares
Face Value
Rs 10


Promoters
Patanjali Govind Keswani and Spank Management Services
Business
Hospitality - hotel chain
Registrar
Karvy
Listings
Bse, Nse
BRLM
Kotak Mahindra Capital, CLSA, J P Morgan, Yes Securities

Wednesday, September 20, 2017

IPO ANALYSIS : CADSYS (INDIA) LIMITED - INVEST


Issue details:



Issue opens / closes on

21-09 /25-09-2017
Issue Size
21,00,000 equity shares
Face Value
Rs 10
Price Band
Rs 70

BUSINESS
Domain-focused GIS and
engineering business technology service provider

Promoter
ALLANI CHAKRAVARTHI VENKATA RANGACHARYA
LISTINGS
Nse, sme
BRLMs
Saffron Capital
REGISTRAR
BigShare


SBI Life Ins allots shares to anchor investors at Rs 700

 SBI Life Insurance Company has allotted around  32 million shares worth Rs 2,226 crore to 69 anchor investors. The allotment was made at Rs 700 apiece, the top-end of the IPO price band. 

Some of the anchor investors are Blackrock, Canada Pension, Govt of Singapore, Aranda, Abu Dhabi Investment Authority, HSBC, Wells Fargo, Kuwait Investment Authority and Rochdale. 

GST Refund Blues : 5000 companies under scanner

About 5,000 companies are under tax authorities’ scanner for claiming GST transitional credit of more than Rs 1 crore.

Revenue department’s apex indirect tax policymaking body Central Board of Excise and Customs has directed its field officers to assess the massive transitional claims worth Rs 65,000 crore for stocks purchased before the implementation of the Goods and Services Tax from July 1.

Out of the Rs 95,000 crore revenues that the government garnered in July, more than two third of the amount is up for refund as input tax credit for Central GST.


RIL plans major expansions

 Reliance Industries is considering expanding its oil processing capacity by over 40 percent by 2030.

Reliance may expand the capacity at its dual refinery complex in Jamnagar in Gujarat by 30 million tonnes a year to 100 million tonnes per year. 

Reliance made the presentation to India's Center for High Technology, a division of the Ministry of Petroleum and Natural Gas that evaluates projects and assesses their technological requirements.

IPO ANALYSIS : AKM LACE AND EMBROTEX LIMITED - AVOID


Issue details:



Issue opens / closes on

20-09 /22-09-2017
Issue Size
19,02,000 equity shares
Face Value
Rs 10
Price Band
Rs 25

BUSINESS

Mfrs of knitted fabrics / trading
Promoter
Anoop Kumar Mangal, Mr. Shambhu Dayal Mangal and Anoop Kumar Mangal & Sons (HUF).
LISTINGS
Bse, sme
BRLMs
Aryaman Financial Services
REGISTRAR
Skyline Corp Services


IPO ANALYSIS : SHARE INDIA SECURITIES LIMITED

Issue details:



Issue opens / closes on

21-09 /27-09-2017
Issue Size
64,32,000 equity shares
Face Value
Rs 10
Price Band
RS 41

BUSINESS

Equity broking / Trading
Promoter
Praveen Gupta / others
LISTINGS
Bse, sme
BRLMs
Hem Securities
REGISTRAR
BigShare




Risk factors;

  1. Company has been issued a show cause notice by SEBI, in relation to SEBI (Prohibition of Fraudulent and Unfair Trade Practices.
  2. Net cash flows from operating, investing and financing activities have been negative in past years.
  3. Unprofessionally managed.

IPO ANALYSIS : VANTA BIOSCIENCE LIMITED - AVOID

 
Issue details:



Issue opens / closes on

25-09 / 27-09-2017
Issue Size
15,12,000 equity shares
Face Value
Rs 10
Price Band
Rs 50

BUSINESS
Preclinical contract research organization.
Promoter
MOHAN KRISHNA MULAKALA, DOPESH RAJA MULAKALA, DR.VYAS MURTI MADHAVRAO SHINGATGERI, DR. SOUMYA SIMHADRI, SHRAVAN CHINTAPATLA, KARISHMA MULAKALA, SAJAN KIRAN MULAKALA, PRADEEP CHOWDARY AND DR. CHANDRASEKHAR RAO SIMHADRI
LISTINGS
Bse, sme
BRLMs
Inventure Merchant Banking Services
REGISTRAR
BigShare




Risk factors;

  1. Limited operational history - just one year.

IPO ANALYSIS : MEHAI TECHNOLOGY LIMITED -AVOID

 
Issue details:



Issue opens / closes on

25-09 / 28-09-2017
Issue Size
15,00,000 equity shares
Face Value
Rs 10
Price Band
Rs 40

BUSINESS
Manufactures of LED Bulbs and Fixtures.
Promoter
Sudhir Ostwal and Ms. Shalini Jain
LISTINGS
Bse, sme
BRLMs
SPA Capital
REGISTRAR
BigShare


SBI Life Ins IPO gets 9% subscription

SBI Life Ins IPO has received 9% subscription on day 1. 

Renault - Nissan king of auto world

2017 has seen the Renault-Nissan alliance become the largest Auto manufacturer in the world as far as sales are concerned, and now they have crossed another crucial milestone. 
To put in perspective how the passenger car market has grown, it took the company 50 years to sell the first 100 million and then managed to close the next 50 million in as little as eleven years.

When Nissan touched the 100 million mark in 2006, almost 76 million of them had been built in Japan, from there on Nissan pushed their global policy even further. In the last eleven years, accelerated by localisation of production, has seen those figures take a drastic change with the same 76% of the vehicles being manufactured outside of Japan, driven particularly by the participation of US and China.

Biocon : USFDA completes AP facility.

Biocon informed the bourses that that USFDA has completed the audit of its facility in Andhra Pradesh without any observation.

The company on Monday post market hours said that the US drug regulator had inspected its active pharmaceutical ingredients (API) manufacturing facility.


SBI Life Ins IPO opens today - Avoid

SBI Life Ins IPO in the price band of Rs  685 - 700 opens for subscription today. Avoid the issue since it has been irrationally priced.

Search this website for detailed analysis.

SBI counters Amit Shah's technical reasons theory for slowdown.

 SBI Research says that the slowdown is real and not technical and called for more public spending to arrest the slide.

We certainly believe that we are in a slowdown mode since September 2016 and a slowdown that has been prolonged to Q1 of this fiscal year is technically not short-term in nature or even transient, SBI Research said in a report.

The report said continuing slowdown has "raised the spectre of whether the slowdown is temporary or not" but stopped short of answering the question.

The note comes days after BJP president Amit Shah attributed the slowdown — GDP growth slid for the sixth quarter in a row to hit a three-year low at 5.7 per cent in the June quarter — to "technical reasons" without elaborating on the same.

Fiis net sell for Rs 1718 cr

Fiis have net sold for Rs 1718 cr in cash market, yesterday. Diis too have net sold for Rs 78 cr in the same segment.

Tuesday, September 19, 2017

ICICI Lombard IPO gets 2.95 times subscription

ICICI Lombard IPO has received 2.95 times subscription on final day.

Monday, September 18, 2017

Nse shifts 4 stocks to Z category.

NSE has shifted the following 4 stocks to Z category with effect from September 25, 2017 due to non-compliances of listing guidelines.

1  ABG Shipyard Limited
2  Educomp Solutions Limited
3  Gammon India Limited
4  Rei Agro Limited

IPO ANALYSIS : TRIDENT TEXOFAB LTD - AVOID



Issue opens / closes on

21-09 / 26-09-2017
Issue size
11,76,,000 equity shares
Face Value
Rs 10
Price band
Rs 30
Promoters
HARDIK J. DESAI AND CHETAN C. JARIWALA
Business
Multi-product  fabric  trading  Company
Registrar
Karvy
Listings
Bse, sme
BRLM
IOB, Guinness Corp Advisors