Tuesday, August 14, 2018

Retail inflation cools down


Retail inflation, measured by the Consumer Price Index, stood at 4.17 per cent in July compared with 4.92 per cent in June, according to data released by the Central Statistical Organisation.

Rates sensitive stocks are likely to move up in today's trade.

YouGov survey : SBI is the most patriotic brand

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According to a  survey conducted by UK-based online market research and data analytics firm YouGov, India's largest lender State Bank of India is considered to be the most patriotic brand, followed by Tata Motors, Patanjali, Reliance Jio and BSNL.

Around 16 per cent respondents ranked SBI to be the most patriotic brand overall, followed by Tata Motors and Patanjali with 8 per cent each, and Reliance Jio and BSNL with 6 per cent each.

Tata Steel delivers strong numbers in June quarter

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Tata Steel  has posted strong numbers for June quarter.

The steelmaker’s consolidated net profit rose to Rs 1934 crore in June, as against Rs 921 Cr reported in the same quarter, last fiscal.

Total Revenue rose by 27.5 percent year-on-year to Rs 37,833 crore.


Consolidated EPS for the quarter stood at Rs 17, as against Rs 8 in June 2017.


The stock closed at Rs 569, down Rs 7 in yesterday's trading.

PNB scam : Govt dismisses Usha Ananthasubramanian

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Center has dismissed Usha Ananthasubramanian, former managing director of fraud-struck Punjab National Bank  and Allahabad Bank, from service.

Mehul Choksi and Nirav Modi defrauded the bank to the extent of Rs 15,000 Cr and both of them are absconding.

 Usha Ananthasubramanian was to superannuate Monday but has been dismissed from the service. The development comes nearly three months after state-owned Allahabad Bank divested her of all powers after CBI named her involvement in the PNB scam. 

Usha Ananthasubramanian was the head of PNB between August 2015 and May 2017 and was executive director at PNB from July 2011 to November 2013.

Leading Wealthy Women of India

According to Kotak Wealth Hurun report, Smitha Crishna, third-generation heir of the Godrej Empire, has topped the India’s wealthiest women list for 2018. 

 Crishna, who has a 20% stake in the Godrej Group, has an estimated net worth of Rs 375.7 bn. With about Rs 302 bn, Roshni Nadar, CEO and executive director, HCL, ranks second. 

Indu Jain of the BCCL and Kiran Mazumdar-Shaw are third and fourth on the Kotak Wealth Hurun - Leading Wealthy Women 2018 list, which includes 100 Indian women with net worth above Rs 10 bn.

Turing gaming graphics technology to take Nvidia beyond $ 300.

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Nvidia shares closed at $ 256.12, up $1.33 in Monday's trade. The company will announce  its June quarter results on Thursday.

Analysts expects a blockbuster results in this quarter too. 

Analysts  see a favorable setup as they expect well-documented choppiness in the gaming channel to be offset by continued robust data-center demand and backlog and see little risk to near-term numbers from crypto.

The stock in next 12-month is likely to hit  $325 price target, representing 28 percent upside to Monday's close, according to many analysts.

The analyst predicts Nvidia will launch its new graphics chips called "Turing" later this year. The company's gaming business sales rose by 46 percent on average in the year after it launched the last big chip Pascal in May 2016.

Monday, August 13, 2018

HDFC Bank's deputy MD quits

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Paresh Sukthankar the Deputy Managing Director of HDFC Bank has resigned without citing any reason.

Sukthankar has been with HDFC Bank since its inception in 1994 and at present is responsible for overseeing the bank's credit, finance and human resources functions.

 Paresh Sukthankar has tendered his resignation as Deputy Managing Director of the bank, to be effective 90 days from the close of business hours of Friday, 10-08-2018.


Friday, August 10, 2018

Q1 results : Shocker from SBI, stock loses 5%

SBI has reported a net loss of Rs 4,876 crore for the quarter ended June as its provisions for bad loans rose by more than 70 percent year on year.

The lender's bottom line was also weighed down by lesser other income, which fell to Rs 6,679 crore.

SBI Shares were down almost 5% as of now, with huge volume. More than 10 Cr shares are traded on NSE.

CreditAccess IPO gets 37% subscription on day 2

CreditAccess Grameen IPO has received 37% subscription on day 2. The IPO closes today. We expect the IPO to get 5-6 times subscription on last day. 

FirstChoiceIPO has recommended for subscription to the issue.

Thursday, August 9, 2018

IPO ANALYSIS: POWERFUL TECHNOLOGIES - AVOID

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Issue Details :


Issue opens  / closes on
09-08 /14-08-2018
Issue size
Rs 13.55 Cr
Face Value
Rs 10
Price band
Rs 51
Business
Mobile power banks / LED TV
Promoters
Aditya Gupta, Mrs. Karuna Chhabra and Mr. Nitin Chhabra
Listings
Nse, emerge
BRLM
Finshore Management Services
Registrar
Big Share


Risks :
a. Limited operational history.
b. Delay in sales realization.
c. Limited customer base.
d. Company / group is facing tax litigations.
e. Brands not owned by the company.
Avoid the IPO.

Forthcoming IPO : USA



Company Name

Listing at
Price
Shares
Offer Amount
IPO Date
ARIDIS PHARMACEUTICALS, INC.

NASDAQ
$13.00-15.00
2,000,000
$34,500,000
8/14/2018
PACIFIC CITY FINANCIAL CORP

NASDAQ
$20.00-22.00
2,385,000
$60,340,500
8/10/2018
SPARTAN ENERGY ACQUISITION CORP.

NYSE
$10
40,000,000
$460,000,000
8/10/2018
MESA AIR GROUP INC

NASDAQ
$14.00-16.00
10,700,000
$196,880,000
8/9/2018
VACCINEX, INC.

NASDAQ
$12.00-15.00
3,333,000
$57,494,250

8/9/2018