Friday, April 12, 2019

Forbes World's Best Bank Survey : HDFC Bank emerged as India's number 1 bank

Image result for hdfc bank


HDFC Bank has been identified as number 1 bank by customers in India, as per Forbes World's Best Bank survey. In the first edition of this survey, Forbes partnered with market research firm Statista to measure the best banks in 23 countries. 

HDFC Bank emerged as India’s No 1 bank. It was a unique survey as it did not measure financial performance, ignoring balance sheets and P&L statements in favour of customer opinion. 

Apart from HDFC Bank, it was another private-owned lender ICICI Bank which took the second spot in Forbes list for India. At third rank was DBS, followed by Kotak Mahindra Bank and IDFC Bank taking fourth and fifth spot. 

SBI is at 11th position and Canara Bank at the bottom, 30th.

Friday, April 5, 2019

IPO ANALYSIS : POLYCAB INDIA LIMITED


Issue Details :


Issue opens /
closes on


05-04 /09-04-2019
Issue size
Rs 400 Cr plus OFS of 1.75 Cr
equity shares
Face value
Rs 10
Price Band
Rs 533-538
Business
Mfrs of cables and wires
Promoters
INDER T. JAISINGHANI,
AJAY T. JAISINGHANI,
RAMESH T. JAISINGHANI
AND GIRDHARI T. JAISINGHANI
Listing
Bse, Nse
BRLM
Kotak Mahindra, Axis Capital,
Citigroup Global Markets India,
Edelweiss Financial Services, IIFL
Holdings, YES Securities
Registrar
Karvy
Await detailed analysis.

IPO ANALYSIS : METROPOLIS HEALTHCARE LIMITED -AVOID


Issue Details :


Issue opens /
closes on
03-04 /05-04-2019
Issue size
1.36 Cr equity shares
Face value
Rs 2
Price Band
Rs 877-880
Business
Health care diagnostic business
Promoters
DR. SUSHIL KANUBHAI SHAH,
AMEERA SUSHIL SHAH AND
METZ ADVISORY LLP
Listing
Bse, Nse
BRLM
JM Financial, Credit Suisse
Securities (India),
Goldman Sachs,
Kotak Mahindra .
Registrar
Link Intime

Remarks :
The average EPS during the last 3 years is around Rs 20. Presuming the company will post an EPS of Rs 22 for FY 19, the offer is at 44 PE , which is expensive.

Avoid the IPO.



ADB down grades India's growth forecast

Asian Development Bank downgraded economic growth forecasts for India and Southeast Asia for 2019 as global risks from trade tensions to Brexit mount.

Gross domestic product in India will probably increase 7.2 percent this year, down from a December forecast of 7.6 percent, according to the ADB’s latest Asian Development Outlook report. Southeast Asia’s growth estimate was lowered by 0.2 percentage point to 4.9 percent.

A drawn-out or deteriorating trade conflict between China and the U.S. could damp investment, the ADB said, while the U.K.’s potential chaotic exit from the European Union and financial market volatility comes with additional risks.



Monday, March 25, 2019

Fitch cuts India's growth rate

Image result for india gdp 19


Fitch Ratings has cut India’s GDP growth rate projection for the next financial year to 6.8 per cent, from its previous estimate of 7 per cent, on account of weaker-than-expected growth momentum. 

The rating agency says that it has also changed outlook on the Reserve Bank of India’s monetary policy review, projecting another interest rate cut of 25 basis points in 2019 owing to inflation staying below the target and easier global monetary conditions.

Unwise move : Lenders to take control of Jet Airways

Image result for jet airways crash

Lenders, led by SBI  are in the process of securing “substantial stake” in the ailing Jet Airways to try and revive it to a manageable state before selling it to new promoters.

 Only after securing substantial stake in the airline, the lenders are planning to sell Jet Airways, and the existing promoters need to exit before new buyers can be roped in. After defaulting on interest payments and delaying salaries to pilots, with Jet Airways now flying just about a third of its fleet following the recent grounding of many aircraft, the full service carrier is currently in a near standstill situation.

The new move by lenders, FirstChoiceIPO feels, are going to hurt them and loss will increase. 

Apple to unveil new services

Image result for apple logo


World’s largest technology company, Apple, is expected to unveil streaming video and news subscriptions, key parts of Apple’s push to transform itself into a leading digital services provider. The company may even discuss a monthly video games subscription. 

TransUnion Cibil wants leners to submit data on monthly basis

Image result for transunion


 TransUnion Cibil is asking lenders to submit monthly credit data of borrowers, with in a week of every month end.

Lenders report credit data of their borrowers to the bureau periodically.

Currently, the data is submitted and updated two weeks after the month end.

Cibil is working to make sure that the data gets sent to them faster and  want to make sure that data comes to us within a week of every month-end, instead of a fortnight at present.

Wednesday, March 13, 2019

IPO ANALYSIS : MSTC LIMITED -AVOID


Image result for mstc

Issue Details :

Issue opens /
closes on
13-03 / 15-03- 2019
Issue size
1.76 Cr equity shares
(25% of the
Total paid up capital)
Face value
Rs 10
Price Band
Rs 121-128
Business
E commerce, Trading,
Recycling
Promoters
Govt of India
Listing
Bse, Nse
BRLM
Equirus Capital
Registrar
Alankit Assignments

Remarks :

1. Highly competitive business.

2. Depends on govt agencies for business.


3. Currently facing a dispute with Standard Chartered Bank, wherein all freehold buildings of the Company are under attachment in terms of the order of DRT.

4. Non compliance of companies act provisions in the past.

5. Consistently loss making enterprise.

6. Irrationally priced.


Avoid the IPO.