Thursday, October 3, 2019

Banks seek RBI nod for deferred tax route

Commercial banks are looking to move to the new tax regime will have to write off or reinstate deferred tax assets. Banks with huge DTAs on their books have reached out to the Reserve Bank of India to synchronize its provisioning norms with the recently-announced tax rates. Banks are hoping RBI prescribes a methodology so they can write these off over next three to five years. Banks fear that reinstating DTAs at one go could impact their net worth.

Thursday, September 26, 2019

IPO ANALYSIS : IRCTC - AVOID



Issue Details :

Issue opens / closes on
30-09 /03-10-2019
Issue size
Rs 625 Cr
Face value
Rs 10
Price Band
Rs 315-320
Business
Online ticketing, tourism and the catering arm of railways
Promoters
Govt of India
Listing
Bse, Nse
BRLM
IDBI Capital Markets,
SBI Caps
 and Yes Securities
Registrar
Alankit Assignments
Limited
AWAIT DETAILED ANALYSIS.

Sunday, September 22, 2019

IPO ANALYSIS : SHIV AUM STEELS LIMITED - AVOID


Issue Details :

Issue opens / closes on
19-09 /23-09-2019
Issue size
36,00,000 equity shares
Face value
Rs 10
Price Band
Rs 44
Business
Trading in mild steel products
Promoters
Sanjay Bansal, Ajay Bansal, Jatin Mehta, Jatin Mehta HUF
Listing
Nse, emerge
BRLM
Aryaman Financial Services
Registrar
Skyline Financial Services

Moody's : Rate cut credit negative for sovereign

Rating agency Moody's says that the government's decision to reduce the base corporate tax rate to 22 per cent from 30 per cent as part of stimulus measures to revive slowing economic growth is credit positive for companies because it will enable them to generate higher post-tax incomes.

However, it is credit negative for the sovereign as it aggravates mounting risks for the government in meeting its fiscal deficit target.

Among Moody's rated non-financial companies in India, commodity and information technology  services companies will benefit most from the tax rate cut. But the degree of strengthening in corporate credit profiles will depend on whether companies reinvest surplus earnings into their businesses, or use them to reduce debt or to boost shareholder returns.

Tuesday, August 20, 2019

Govt removes DRR

Government has removed Debenture Redemption Reserve requirement for issuance of debentures by non-banking financial companies, housing finance companies and listed firms. 

The corporate affairs ministry has said that the requirement for a DRR of 25 per cent of the value of outstanding debentures issued by listed companies, Non-Banking Financial Companies  and Housing Finance Companies has been removed.

NBFC and HFC stocks are likely to see traction in today's trade.

IPO NEWS : Manipal Health Enterprises plans listings

Manipal Health Enterprises is looking at listing on the bourses in the next two years in order to give its investors TPG Capital and Temasek  an exit.

M H E is one of India’s leading hospital networks, providing multi-speciality care to both Indian and international patients. With more than 6,000 operational beds across its network of hospitals and with its experienced team of medical professionals, it is committed to provide quality and affordable health care.

Sunday, July 28, 2019

ICICI Bank reports good numbers in Q1

ICICI Bank, India's biggest private sector bank, has posted a profit of Rs 1,908 crore in June quarter. 

The bank had posted a loss of Rs 120 crore in the year-ago period and a profit of Rs 969 crore in the previous quarter. 

Net interest income grew  by 27 percent year-on-year to Rs 7,737 crore for quarter that ended on June 2019 with healthy loan growth of 15 percent YoY.

The stock closed at Rs 416, up Rs 7 in Friday's closing.

Thursday, July 25, 2019

GLOBAL RANKING : RIL top ranked Indian company

Image result for ril

Reliance Industries  has become the top-ranked Indian company to feature in the latest Fortune Global 500 list.
The oil-to-retail major has toppled state-run Indian Oil Corporation  as the top-ranked Indian company.
RIL has attained a rank of 106 in the latest list, recording an improvement of 42 positions from its previous ranking.
On the other hand, IOC improved its position to 117th rank, registering a jump of 20 spots.
Other Indian companies in the Fortune Global 500 list include ONGC (160), State Bank of India (236), Tata Motors (265), Bharat Petroleum (275) and Bangalore based Rajesh Exports is at 495.

IPO ANALYSIS: AFFLE INDIA LIMITED - AVOID

Issue Details :


Issue opens
/closes on


29-07/31-07-2019
Issue size
Rs 459 Cr
Face value
Rs 10
Price Band
Rs 740-745
Business
Technology - consumer
intelligence 
platform that delivers
consumer acquisitions,
engagements
 and transactions through
 relevant mobile
advertising / E commerce.
Promoters
ANUJ KHANNA SOHUM AND AFFLE HOLDINGS PTE. LTD
Listing
Bse, Nse
BRLM
ICICI Securities, Nomura
Registrar
Karvy
Await detailed analysis.

Thursday, July 11, 2019

Axis Bank to raise Rs 9000 Cr, appoints merchant bankers

 Axis Bank has appointed investment banks Citigroup, JP Morgan and Axis Capital to help it raise up to Rs 9000 Cr through a share sale, said a person aware of the development.

The bank plans to raise the funds through a qualified institutional placement  offering by selling shares to institutional investors. It will help the bank shore up its capital adequacy ratio and push for lending growth.

Axis Bank closed at Rs 768, down Rs 18 in yesterday's trade.

Wednesday, May 22, 2019

Govt mulls merger of OBC, Andhra and Allahabad Bank with PNB

Center is mulling merger of two or three small state-run banks - Oriental Bank of Commerce, Andhra Bank and Allahabad Bank with PNB.

Tuesday, May 7, 2019

Exceptional one time credit help Bharti Airtel to post Rs 576 Cr net

 Bharti Airtel on Monday reported a consolidated profit of Rs 576 crore, a jump of 37 per cent during the fourth quarter ended March 31, as compared with Rs 419 crore in the corresponding period last year.
The net profit  was bolstered by a one-time exceptional credit of Rs 2,168 crore arising from re-assessment of levies, based on a recent pronouncement.
The consolidated revenue of the company also rose by six per cent YoY to Rs 20,602 crore during the quarter as against Rs 19,394 crore in January-March 2018.

ICICI Bank's net dips in Q4

 ICICI Bank has registered a five per cent drop in its net profit in the fourth quarter of 2018-19.

The bank’s net profit fell 4.99 per cent to Rs 969 crore in the January to March 2019 quarter from Rs 1,020 crore a year ago.


The bank’s bad-loan provision rose to Rs 5,451 crore in the fourth quarter of 2018-19 from Rs 4,244 crore in the third quarter.


Friday, April 26, 2019

IPO ANALYSIS : ARTEMIS ELECTRICALS LTD - Avoid




Issue Details :

Issue opens
/ closes on
24-04 /30-04-2019
Issue size
70,00,000 equity shares
Face value
Rs 10
Price Band
Rs 55-60
Business
Mfrs of LED lighting
systems /accessories
Promoters
PRAVIN KUMAR AGARWAL & M/S YASHVIKRAM INFRASTRUCTURE PRIVATE LIMITED

Listing
Bse, sme
BRLM
Fedex Securities
Registrar
Cameo Corp services

IPO ANALYSIS : WHITE ORGANIC RETAIL LIMITED - Avoid


Issue Details :


Issue opens / closes on
26-04 /02-05-2019
Issue size
24,54,000 equity shares
Face value
Rs 10
Price Band
Rs 63
Business
Trading in agri products
Promoters
R. DARSHAK MAHESH RUPANI, MR. PRASHANTT MAHESH RUPANI AND WHITE ORGANIC AGRO LIMITED
Listing
Bse, sme
BRLM
Finshore Management Services
Registrar
Link Intime

Remarks:

  1. Clash of business interest.
  2. EPS is misleading. (company’s other equity is huge).

IPO ANALYSIS : G.K.P. Printing & Packaging Limited - Avoid


Issue Details :

Issue opens /
closes on
23-04 /26-04-2019
Issue size
20,56,000 equity shares
Face value
Rs 10
Price Band
Rs 32
Business
Mfrs and traders of
corrugated boxes
Promoters
KEVAL HARSHAD GORADIA
AND PAYAL KEVAL GORADIA
Listing
Bse, sme
BRLM
Holani Consultants
Registrar
Link Intime


Remarks:

Limited operational history - less than a year.

Maruti Suzuki India's net declines, stock down 2 percent

Image result for maruti suzuki

 Maruti Suzuki India has reported a 4.6 per cent decline in net profit to Rs 1,795.6 crore for the fourth quarter of the 2018-19 fiscal.

The company had posted a net profit of Rs 1,882 crore in the January-March period of 2017-18.

For the entire 2018-19 fiscal, the company has posted a net profit of Rs 7,500 crore, down 2.9 per cent from the previous fiscal.

The shares of Maruti reacted negatively and ended the day at Rs 6880, down almost 2 percent.

Axis Bank's net at Rs 1505 Cr

Image result for axis bank


 Axis Bank has reported a net profit of Rs 1,505 crore in the March quarter of FY19, as against a loss of Rs 2,189 crore in the same period last year.


Its profit was lower by more than Rs 1,600 crore estimated analysts. The net interest income increased 21% y-o-y to Rs 5,706 crore and its domestic net interest margin stood at 3.61%, up 2 basis points. Axis Bank’s other income, which includes core fee income, rose 26% in March quarter.

The stock closed at Rs 741, down Rs 11 in Thursday's trading.