Sunday, July 23, 2017

DMart posts Rs 175 cr net in June quarter

 Avenue Supermarts, which owns DMart chain of supermarkets, on Saturday reported a 48 per cent YoY rise in net profit at Rs 175 crore for the June quarter.

The company had had reported Rs 118 crore profit in the corresponding quarter of last year.


Saturday, July 22, 2017

Forthcoming IPO : Godrej Agrovet Limited





Issue size
IPO Rs 300 cr plus OFS Rs 300cr
Face Value
Rs 10


Promoters
Godrej Industries, A B Godrej, N B Godrej
Business
Diversified, research and development focused agri
business company with ope
rations across five business verticals:
animal  feed, crop protection, oil palm, dairy, and poultry and processed foods.

Registrar
Karvy
Listings
Bse, Nse
BRLM
Axis Capital,  Kotak Mahindra Capital Company, Credit Suisse

Euro Exit : Bank of America picks Dublin

Bank of America has chosen Dublin as its new base to service EU clients as part of its Brexit contingency plans.

It is the first US bank to confirm the Irish capital as its preferred site.

Citigroup has picked Frankfurt as the base for its EU trading operations, and reports say Morgan Stanley has also chosen the German financial centre.

Banks had been required to submit plans to the Bank of England earlier this month, detailing their preparations for when the UK exits the EU in March 2019.

SREI Equipment Finance Limited's Rs 500 cr NCD opens - Invest

Issue details:




SeriesS1 - 9.25% 5 Years 3 Months, for Category I, II and III Investors - Monthly Option
S2 - 9.30% 5 Years 3 Months, for Category I, II and III Investors - Annual Option
S3 - Payable at redemption - Rs. 1596/- per NCD Tenor 5 Years 3 Months, for Category I, II and III Investors
S4 - 9.35% 7 Years, for Category I, II and III Investors - Monthly Option
S5 - 9.40% 7 Years, for Category I, II and III Investors - Annual Option
S6 - Payable at redemption - Rs. 1876/- per NCD Tenor 7 Years, for Category I, II and III Investors
S7 - 9.50% 10 Years, for Category I, II and III Investors - Monthly Option
S8 - 9.55% 10 Years, for Category I, II and III Investors - Annual Option
S9 - Payable at redemption - Rs. 2490/- per NCD Tenor 10 Years, for Category I, II and III Investors
Issue Period17-Jul-2017 to 31-Jul-2017
Post issue Modification Period1-Aug-2017
Issue SizePublic issue of Rs 5,000 Million (?Base Issue Size?) with an option to retain oversubscription upto Rs. 5,000 Million aggregating upto Rs. 10,000 Million
Security TypeUnsecured Subordinated Redeemable Non-Convertible Debentures
PriceRs 1000
Face ValueRs 1000
Market Lot1 (one) NCD
Minimum Application Value10 (Ten) NCDs (Rs. 10,000) either taken individually or collectively across all or any series of NCDs
IPO GradingBWR AA+ (BWR Double A plus) (Outlook: Stable)'by Brickwork Ratings India Private Limited and "SMERA AA+/Stable" (SMERA Double A plus/Stable) by SMERA Ratings Limited
Rating AgencyBrickwork Ratings India Private Limited and SMERA Ratings Limited
IPO Market Timings10.00 a.m. to 5.00 p.m.
Lead ManagersEdelweiss Financial Services Limited, A. K. Capital Services Limited, Srei Capital Markets Limited, Trust Investment Advisors Private Limited and SPA Capital Advisors Limited
Name of the RegistrarKarvy 

Bse changes circuit filter for 5 stocks

Bse has changed the circuit filter for 5 stocks with effect from July 24, 2017.


Sr. No.
Scrip Code
Scrip Name
Price Band % Revised to
1
533576
VASWANI INDUSTRIES LTD
10
2
533638
FLEXITUFF INTERNATIONAL LTD
5
3
539014
KALPA COMMERCIAL LTD
5
4
539884
DARSHAN ORNA LTD
5
5
530135
OPTIEMUS INFRACOM LTD
5


Lupin gets USFDA approval

USFDA has successfully completed Prior Approval Inspection for the Goa manufacturing facility of Lupin,  without any observations.

The inspection, which started on Monday, July 17, concluded on Friday afternoon.

PAI is triggered when a company seeks approval of an Abbreviated New Drug Application , filed for marketing, from USFDA.

Around 40-50 percent of pending ANDAs have been filed from Goa plant.

Lupin closed at Rs 1146, down Rs 20 in Friday's trading. The stock will react positively on Monday for the latest developments.

RIL to issue bonus shares, stock hits record high

Reliance Industries decided to reward its shareholders with a 1:1 bonus issue.  The bonus, which comes 12 years after the company had last issued one, is the largest bonus in India.

RIL has an equity base of Rs 3252 cr as on 30-06-2017. The equity will double due to issue of bonus shares.

The stock hit 52 week high of Rs 1592.70 and settle down at Rs 1584 in yesterday's trading.

The stock is one of the star performer among Nifty / Sensex stocks having risen 55% in the last one year and 12% in the last 30 days.

Friday, July 21, 2017

Result Impact : RIL gains 3 percent in early trade

RIL has gained 3 percent in the early trade and as of now it is trading around Rs 1584. RIL is the second top gainer among Nifty stocks. Wipro has gained 7% and has touched Rs 290 level.

Microsoft's net @ $6.51 billions in q4

Microsoft's quarterly profit has more than doubled, helped by a tax benefit and strong growth in its cloud business.

The company's net income rose to $6.51 billion, or 83 cents per share, in the fourth quarter ended June 30 from $3.12 billion, a year earlier.

 Revenue rose 9.1 percent to $24.7 billion.

Sebi plans to reduce IPO listing period

Sebi plans to reduce the time taken for a security to list on an exchange to three days from the date of closure of its IPO, instead of the earlier envisaged timeline of four days. At present, public issues take six days — termed T+6 — to list after closing for a subscription. Reducing the listing timeline to T+3 days would, feel experts, help reduce the impact of market volatility.

HDFC to raise funds through NCDs


HDFC proposes to raise ₹3,500 crore through a private placement of NCDs to augment its long-term resources. The proceeds of the issue would be utilised for financing or re-financing the housing finance business requirements of the company. 

The issue will open on next Monday and close on the same day. The bond carrying a coupon rate of 7.17 per cent will mature in July 2019. 

Kotak Mahindra Bank beats estimates in q1, stock touches 52 week high

Kotak Mahindra Bank has posted a 26% increase in consolidated net profit for the quarter ended June 30, 2017 at Rs 1,347 crore compared with Rs 1,067 crore in the same quarter previous fiscal.

Net interest income for the bank during the quarter grew 17% to Rs 3,005 crore compared with Rs 2,566 crore in the comparable period previous fiscal.

Gross NPAs for the bank stood at 2.24% compared with 2.2% in the same period previous fiscal. Net NPA stood at 1.07% in the quarter compared with 1.06% in the comparable period last year.

The stock after touching 52 week high of Rs 1016 in yesterday's trading closed at Rs 979, down Rs 15.

RIL's net at Rs 9108 cr

Reliance Industries has reported  28 per cent jump in Q1 net profit to Rs 9,108 crore for the quarter ended June 30, 2017.  The June quarter profit stood at Rs 8,196 crore versus Rs 7,548 crore last year.
 The consolidated revenue from operations for the quarter under review stood at Rs 90,537 crore versus Rs 71,451 crore last year. 

The June quarter gross refining margin stood at $11.9 per bbl. 

RIL stock closed at Rs 1526, down Rs 6 in yesterday's trading.

IPO News : Aeronautics of Israel raises Rs $130 millions

Technology startup - Aeronautics has raised $130 million from an initial public offerings. The shares are listed on  Tel Aviv Stock Exchange (TASE).

Aeronautics has grown to become a world leader in the field of Unmanned Air System based defense and security.

Israeli private equity firms are leading a comeback in local share sales that could revive the Tel Aviv Stock Exchange that’s been shunned for overseas listings.

The IPO is the eighth local listing this year and the Israel's largest since 2011.

Thursday, July 20, 2017

Ashok Leyland ties up with SUN Mobility

Ashok Leyland has entered into a strategic alliance with Sun Mobility to develop electric mobility solutions.

SUN Mobility plans to revolutionize the transportation sector by deploying a unique open-architecture ecosystem built around their proprietary smart batteries and a network of quick interchange battery stations. These stations, predominantly powered by renewable energy, will refuel electric vehicles at cost lower than and speed faster than conventional diesel/petrol pumps.

SUN Mobility is a 50:50 joint venture between Virya Mobility 5.0 and SUN New Energy Systems that specializes in electric mobility and clean energy. The company is led by Maini, founder of Reva and Uday Khemka, vice chairman of SUN Group.

Developers cannot force arbitration

 National Consumer Disputes Redressal Commission has provided relief to home  buyers who cannot pursue cases against developers due to a conflict in the law  concerned. According to lawyers, many cases were pending in different  consumer forums because developers had included a clause that disputes  between two parties would be first settled through a private resolution  mechanism, also known as arbitration. The Consumer Protection Act is an  additional remedy available to individuals, and it is usually not affected by other  Acts in force.


Reliance Jio 4G phone at Rs 1100

Reliance Industries is working on a strategy to sell 20 cr 4G feature phones -- likely to be priced around Rs 1100, according to sources.

The company is planning to launch on Aug 15th or afterwards.

Forthcoming IPO : Godrej Agrovet Limited

Godrej Agrovet has filed papers with Sebi for an IPO.

The company operates across five business verticals viz. animal feed, crop protection, oil palm, dairy, and poultry and processed foods. It is the leading compound animal feed company in India, on the basis of installed capacity for the financial year 2016.

The IPO comprises of a fresh issue of up to Rs 300 crore and an OFS of Rs 300 crore.

Wednesday, July 19, 2017

Nvidia’s ‘brains’ dominate the self-driving race

As Google, Uber and Tesla fight for control of the self-driving car market, another company better known for its gaming chips than its wheels is positioned to cash-in on the transportation revolution.

Nvidia has quietly become one of the top suppliers of the “brains” that control self-driving cars — the super computers that sit nestled inside the trunk or perhaps tucked behind the glove compartment and interpret visual cues like red lights and pedestrians, telling the vehicle how to respond. The Santa Clara-based chipmaker has racked up deals with big carmakers including Tesla, Audi, Mercedes, Toyota and Volvo and is poised to power a large portion of the burgeoning self-driving car industry, a market that is expected to hit $77 billion by 2035.

Nvidia is obviously going to be one of the strongest players in this area according to research firm Gartner. 

(input from mercury news)

Center approves HPCL stake buy by ONGC

Center has given in-principle approval for ONGC to buy the government’s 51 per cent stake in Hindustan Petroleum. Such a takeover will make Hindustan Petroleum a subsidiary of ONGC, and it will indirectly remain a public-sector undertaking through the centre’s stake in ONGC.

Nomura raises target on ITC


Nomura says that the  GST news is a negative for the company and will require some re-strategizing on the pricing front, they believe that the long-term story remains intact. 

Nomura maintains  Buy rating on the stock and would advises the investors to use the correction as an opportunity to add the stock to their portfolio. 
Nomura's  sum-of-the-parts-based Rs 389 target price implies around 20% potential upside. 

Deccan Chronicle comes under NCLT hammer, moratorium imposed

 Deccan Chronicle Holdings Limited has come under the hammer of NCLT.  NCLT has ordered the appointment of an interim resolution professional,  besides  imposing a moratorium on the liquidation of the debt-laden media  company.

 The Hyderabad bench was hearing an insolvency petition filed by the Canara  Bank under section 7 of Insolvency and Bankruptcy Code, 2016. The  Bangalore  headquartered public sector bank based its plea on claims that  the firm had an  outstanding loan of Rs 724 crore.

FIIs turn aggressive buyer

FIIs have net bought for Rs 1047 cr in cash market, where as DIIs have net sold for Rs 12 cr in the same segment.



Bajaj Finance's net up 42 percent in June quarter, stock up 2 percent

Bajaj Finance has rolled out stellar numbers for June quarter of FY18. An increase of 42 per cent in profit at Rs 602 crore. 

 The better numbers ride on strong growth in the company's core business, evident from a surge in net interest income. The NII for the quarter rose 49 per cent year-on-year to Rs 2,087 crore from Rs 1,399 crore a year ago.

The company's total income for the April–June quarter was Rs 3,165 crore, up 39 per cent from Rs 2,282 crore in 2017.

The stock gained 2 percent and closed at Rs 1544 in today's trade.

Canara Bank posts disappointing numbers in the first quarter

Canara Bank in the first quarter of fy 18 reported a net profit of Rs 252 cr. Analysts were expecting the bank to report net in excess of Rs 350 cr. The bank has reported a net profit of Rs 229 cr in the same quarter previous year.
The bank has an equity, as on 30-06-2017, of Rs 597.29 cr. The EPS for the quarter stands at Rs 4.21.

Bajaj Finserv's net beats estimates in q1

Bajaj Finserv has reported a net profit of Rs 1016 cr for June quarter  of fy18, as against Rs 816 cr reported in the previous year. Total revenue for the quarter stood at Rs 6581 cr. It was Rs 5234 cr in the same quarter previous year. EPS for the quarter is at Rs 41, as against Rs 34.

The stock gained Rs 144 and closed at Rs 4563 in today's trade.

FORTH COMING IPO : SBI Life Ins company limited





Issue size
12 cr equity shares and OFS
Face Value
Rs 10


Promoters
SBI and BNP Paribas
Business
Life ins
Registrar
Karvy
Listings
BSE, Nse
BRLM
JM Financials, Axis capital, BNP Paribas,Citigroup, Deutsche Equities, ICICI Securities, Kotak Mahindra Capital Company, SBI Capital markets.

IPO ANALYSIS : Jigar Cables Limited - Avoid



Issue opens / closes on
18-07 / 20-07-2017
Issue size
18,64,000 equity shares
Face Value
Rs 10
Price band
Rs 30
Promoters
Purushottam V
Business
Mfrs of power  and control cables. Wires - under brand name Sigma.
Registrar
BigShare
Listings
Bse- sme
BRLM
Pantomath Capital

ITC sell off : LIC takes big hit

LIC which holds around 16% in ITC, notionally suffered a loss of Rs 8100 cr, in view yesterday's meltdown in ITC shares. ITC counter saw huge trading in NSE, around 15 cr shares as against daily average of 1.5 cr shares. Delivery percentage around 58% on such a huge volume indicates some big players are betting reversal of trend in a day or two and the stock is likely to surpass Rs 300 level before expiry of July series. 

Phillip Capital bullish on ITC, despite GST blues

 PhillipCapital is bullish on cigarette cum FMCG major ITC. IT believes  consensus expectations for FY18 earnings growth will be trimmed to around 10  per cent from the current expectations of 16 per cent growth.

 Considering the tremendous pricing power of the category and relatively cheap  valuations we continue to remain buyers. They have target price of Rs 345 for  the stock.

HUL bets estimates, reports Rs 1283 cr net, stock hits lifetime gigh

Hindustan Unilever  reported a nine per cent rise in quarterly profit for the June quarter. 

Profit rose to Rs 1,283 crore in the first quarter of fy 18 as compared to Rs 1,174 crore a year earlier.

Revenue from the sale of products rose about five per cent to Rs 9,094 crore, while revenue from its personal care segment, which includes brands such as Fair & Lovely, increased 3.5 per cent.

The stock, intraday hit lifetime high of Rs 1169 and closed at Rs 1159 in yesterday's trading.

Tuesday, July 18, 2017

GST Effect : ITC falls 13% in morning trade. Contrarian call - Buy ITC.

GST on cigarette has been fixed at 28%. On this news ITC  stock has fallen 13% in the early trade. ITC's non cigarette revenue is almost 60%. Hence this fall has no rational. Moreover, irrespective of tax structure, ITC brand cigarettes are in demand always.  The higher GST will not dent company's revenue or its bottom line.

FirstChoiceIPO recommends buying ITC at current level ( Rs 290).  ITC is no more a cigarette company. It is  an FMCG major. They also manufacture cigarette.The stock will bounce back in coming days.


HPCL takes HM to NCLT

Hindustan Petroleum Corporation has taken the Hindustan Motors to National Company Law Tribunal (NCLT).

The company has tax dues as well as liabilities towards workers, even after it sold its Ambassador brand to French maker Peugeot for Rs 80 crore. 

QUOTE OF THE DAY