Wednesday, September 19, 2018

Ircon IPO fully subscribed on day 2

Ircon IPO has been fully subscribed on day 2, thanks to retail investors. This portion is subscribed almost 3 times the shares reserved. The IPO closes today.

BOB CMD to continue till completion of merger

Government hopes to complete the merger of three state-run lenders before the end of this fiscal year, and is likely to give an extension to PS Jayakumar, the current managing director of Bank of Baroda.

Tuesday, September 18, 2018

Ircon IPO subscribed 29% on day 1

Ircon IPO has been subscribed to the extent of 29% on day 1, with strong support from retail segment, which is subscribed by 86%. 

Monday, September 17, 2018

Wpp And Kantar Millward Browns Brandz : HDFC Bank is India's most valuable brand

Image result for wpp kantarMillward Brown's BrandZ 75

According  to WPP and Kantar Millward Brown's BrandZ 75 Most Valuable Indian Brands survey, HDFC Bank has retained the top spot.

HDFC Bank has become India's most valuable brand for the fifth year in a row with a 21 per cent rise in its brand value to $21.7 billion over the previous year.

HDFC Bank is also the only Indian brand to be featured in the BrandZTM Top 100 Most Valuable Global Brands.

The Bank moved up 3 notches up to 60 from its last year's rank of 63. The prestigious list is topped by Google. Other brands in the top 10 are Apple, Amazon, Microsoft, Tencent, Facebook, Visa, McDonalds, Alibaba and AT&T.

Sunday, September 16, 2018

Winds of Change : Left Alliance Wins All Four Central Panel Posts in JNU Students' Union Polls

The Left alliance defeated its nearest rival, the Rashtriya Swayamsevak Sangh-backed Akhil Bharatiya Vidyarthi Parishad, comprehensively in the Jawaharlal Nehru University Students’ Union (JNUSU) elections, the results of which were declared on Sunday. In an exceptional victory, the alliance – comprising the All India Students Association (AISA), the Students’ Federation of India (SFI), the All India Students Federation (AISF) and the Democratic Students Federation (DSF) – won more than three-fourth of all the seats, including the four top posts of president, vice-president (VP), general secretary (GS), and joint secretary (JS).

NCD Offer : Tata Capital Financial Services Limited - Invest

Image result for tata capital financial services limited

Issue Details:

Issue open / closes on
10-09 / 21-09-2018
Issue size
Rs 6000 Cr, with an option to retain another Rs 1500 Cr
Face value /
Unit price
Rs 1000
Type of Security
Secured Redeemable Non-Convertible Debentures and Unsecured Subordinated Redeemable Non-Convertible Debentures.
Tata Group

BRLMs / Registrar
Edelweiss Financial Services Limited, Axis Bank Limited and A.K. Capital Services Limited / Karvy
NCD grading
CRISIL AAA / Stable & CARE AAA; Stable

Views :

1. Company with very high pedigree.
2. Solid fundamentals.


IPO ANALYSIS : Garden Reach Shipbuilders & Engineers Ltd - Avoid

Issue Details :

Issue opens  / closes on
24-09 /26- 09-2018
Issue size
1 Cr equity shares
Face Value
Rs 10
Rs 115- 118
Shipbuilding / repair
Govt of India
Bse, Nse
IDBI Capital Markets, Yes Securities
Alankit Assignments

Remarks :

1. Business cyclical in nature.
2. Inconsistent profit margins.
3. Since its an OFS, the company will not get any money.
4. Offered at 16 PE, which is on the higher side for a govt controlled enterprise.
Avoid the IPO.

IPO ANALYSIS : SKY GOLD LIMITED - Irrationally priced - Avoid

Image result for sky gold limited ipo

Issue Details :

Issue opens  / closes on
18-09 /21-09-2018
Issue size
14,20,000 equity shares
Face Value
Rs 10
Rs 180

Mangesh Chauhan, Mr. Mahendra Chauhan and Mr. Darshan Chauhan.
Nse, emerge
Aryaman Financial Services
Link Intime

Business :
Sky Gold is engaged in the business of designing, manufacturing and marketing of Gold jewelleries. The company mainly deal in 22 Karat gold jewellery, offering a wide variety of designs to suit preferences of the end customers.

1.Substantial portion of the revenues are dependent on few customers.

2. Currently the company is unable to use BIS Standard Mark i.e. ‘Hallmark’ on the jewellery products as they do not have a valid license and have not yet made an application for obtaining the same.

3.Certain Portion of IPO Proceeds ( Rs 76 Cr) will be used to repay loans made by Promoters to the company.
4. Revenues in 2018(the IPO year)  have increased by more than percent as compared to previous year.

List of vanished Gold and Jewellery companies :

a. Mini Diamond.
b. Suraj diamond.
c. Classic Diamond.
d. Shrenuj Diamond.
e. Shree Ganesh Jewellery and Diamond.
f. Parekh Platinum.
g. C.Mahendra Exports
h. Tara Jewellers
i. Goenka diamond and Jewels
J. Gitanjali Diamonds

Recommendations :

A kind of a loot- mar IPO. The revenues and profits are manufactured in the IPO year. Gold and diamond companies are not fancied the stock market now. The issue is irrationally priced.

Avoid the IPO.

IPO ANALYSIS : Ahlada Engineers Limited - Avoid

Image result for ahlada engineers ipo rhp

Issue Details :

Issue opens  / closes on
11-09 /18-09-2018
Issue size
34,04,000 equity shares / 51.06 Cr
Face Value
Rs 147-150
Mfrs of steel doors / windows
Chedepudi Suresh Mohan Reddy
Nse emerge
Saffron Capital
Big Share

Business :

Ahlada Engineers Limited is in the business of manufacturing Steel doors and Windows and cater to customers across various segments and industries. They currently have facilities spread across 3 manufacturing units in Hyderabad.

  1. Company is involved in  tax proceedings amounting to Rs 85 Cr.
  2. The offer is made around 15 PE on its fy18 profits.
Avoid the IPO. The stock will trade in two digits within months of listings.

Friday, September 14, 2018

Lupin gets USFDA approval

Image result for lupin

Lupin  has received approval from the US Food and Drug Administration to market its Atovaquone oral suspension in the strength of 750 mg/5 mL. The product is a generic version of GlaxoSmithKline's Mepron oral suspension in the same strength.