Thursday, February 22, 2018

IPO ANALYSIS : HINDCON CHEMICALS LIMITED - AVOID

Image result for hindcon chemicals


Issue Details :

Issue opens  / closes on
26-02 / 28-02-2018
Issue size
27,60,000 equity shares
Face value
Rs 10
Price
Rs 28
Promoters
SANJAY GOENKA AND MRS. NILIMA GOENKA
Business
Manufacturing  of  chemicals  particularly  for  construction  industry.
Listings
Bse, sme
BRLM
Hem securities
Registrar
Link Intime


Remarks :
  1. Company  has  not  complied  with  certain
statutory  provisions  of  the  Companies  Act, in the past.

2. Promoter  Group  Entities  are  engaged  in  the  line  of  business  similar  to  the  Company.

3. For the 6 months ended 30th Sep, 2017, the revenue reported is Rs 18 Cr and the debtors outstanding is also Rs 18 Cr.

4. The company’s equity has gone up from Rs 87 lacs as on 31-03-2017 to Rs 4 Cr plus as on 30-09-2018.

Avoid the IPO.

Amitabh Bachchan senses change in winds direction

Amitabh Bachchan senses change in the winds direction. AB now follows Rahul Gandhi, other big Congress leaders on Twitter,  which has triggered speculation over sudden interest.

SBI : Bank loan scam may afftet GDP

SBI says that  the recent financial scam may affect the GDP in FY 19 as the developments could act as a restraining factor on growth front. It also says that India's GDP growth in the third quarter of the current fiscal is likely to be in the range of 6.5-7 per cent and may expand further in following three months.

FirstChoiceIPO's golden rule number 6

FirstChoiceIPO's golden rule number 6 says that the:

Rating warnings are provided, in most cases, after the disaster has taken place, leaving no opportunity for investors to safeguard their investments. 

 Moody’s and Fitch, now are looking to downgrade the rating of Punjab National Bank, which is reeling under Rs 11,400 crore fraud.

Fitch Ratings has placed PNB Viability Rating of ‘bb’ on Rating Watch Negative, following the $1.8 billion fraud detected in the bank.

For full list of golden rules search this blog.

Nse rejigs Nifty, Bajaj Finserve, Titan and Grasim Industries replace Ambuja, Aurobindo and Bosch

Nse has rejigged the Nifty constituents.  Bajaj Finserv, Grasim Industries and Titan have been included in the Nifty 50 index. India Index Services and Products Ltd, a subsidiary of the National Stock Exchange of India, the index provider says that the three companies were being added as a substitute for Ambuja Cements, Aurobindo Pharma and Bosch who will cease to be a part of the index.

The changes are effective from 02-04-2018.

Wednesday, February 21, 2018

IPO ANALYSIS : ANGEL FIBERS LIMITED - AVOID


Image result for angel fibers


Issue Details :

Issue opens  / closes on
20-02 / 23-02-2018
Issue size
67,48,000 equity shares
Face value
Rs 10
Price
Rs 27
Promoters
ASHOK M. DUDHAGARA AND PRAFULLA BEN A. DUDHAGARA
Business
Spinning of cotton yarn
Listings
Bse,sme
BRLM
GUINESS CORPORATE ADVISORS PRIVATE LIMITED
Registrar
BigShare


Remarks :
  1. Limited operational history.
  2. Directors are involved in litigation with Income Tax dept.
  3. Premium not justified.


Avoid the IPO.

IPO ANALYSIS : CKP LEISURE LIMITED - AVOID


Image result for ckp leisure

Issue Details :


Issue opens  / closes on
21-02 / 23-02-2018
Issue size
38,48,000 equity shares
Face value
Rs 10
Price
RS 30
Promoters
Prafulla Bhat & Mr. Chanakya Dhanda
Business
Leisure /entertainment comprising of nightclubs, fine dining restaurants, banquet hall.,
Listings
Nse, emerge
BRLM
Aryaman
Registrar
BigShare


Remarks :
  1. Company in the financial year 2016-17 has declared an undisclosed income of ₹ 80 lakhs as a part of the Income Disclosure Scheme of the Income Tax Department.
  2. Limited operational history.
  3. Unprofessionally managed.
  4. Unjustified premium.

Avoid the IPO.

Fire Star Diamond's Vipul Ambani arrested

Vipul Ambani, president (finance) of Nirav Modi's Fire Star Diamond, in connection with Rs 11,384 crore fraud in Punjab National Bank. 

Today's quote

Positive news or negative news, market always over reacts. FirstChoiceIPO.

Tuesday, February 20, 2018

Nvidia touches $ 250 mark

Nvidia is rocking again. The stock touched $ 250 mark, in today's trade, for the first time. The market cap of the company stands at $ 151 billions. 

Supervision of PSU banks : RBI is at fault

For seven months, the RBI did not have a full-time deputy governor handling the supervision of banks, both state-run and private, with the government failing to find a replacement for S S Mundra who retired in July, 2016.

Take over news : Bhushan Steel hits upper circuit

Bhushan Steel hit the circuit of 20% and closed at Rs 54 on the exchanges, after media report suggested that the Tata Steel become the highest bidder for the company assets.

PNB bags Vigilance Excellence award


Image result for pnb wins vigilance excellence

 PNB was the winner of the Vigilance Excellence officer for 2016-17 for initiating various preventive, participative vigilance and anti-corruption measures. And for adhering to CVC and Reserve Bank of India guidelines.

PNB also bagged the Vigilance Excellence Award for “‘Outstanding’ Achievement in ‘Timely Completion of Disciplinary Proceedings’”. CVC Chowdary presented the award to Nagpal “for completing 92% of the total disciplinary proceedings within the prescribed timelines.

Then how come fraud of such a magnitude happens in the bank.

Apple's net profit per day is at Rs 1500 Cr

Image result for apple inc

The world’s most valuable company grew its revenue to more than $88 billion in the three months ended December 30, a global first. 

With net profit of more than $20 billion (Rs 1,500 Cr), Apple also broke the record for the biggest quarterly profit in the corporate history.

Apple which is trading around $172, has a market cap of $ 875 billions.