NSE NEWS : Special session for live trading on Saturday, May 11, 2013.

NSE will be conducting a special live trading session on Saturday, May 11, 2013 in the Capital Market Segment and Future &Options.

Market timings for special live trading session shall be as under:

• Pre Open 11:00 hrs 11:08 hrs
• Normal / Odd lot / Retail Debt Market 11:15 hrs 12:45 hrs
• Block Deal Session 11:15 hrs 11:50 hrs
• Call Auction Illiquid session  11:30 hrs 12:15 hrs
• SME Call Auction Market  11:30 hrs 12:30 hrs
• Closing Session 13:05 hrs 13:15 hrs

Trades done on Saturday, May 11, 2013 shall be settled on Tuesday, May 14, 2013, as a separate settlement.


FUTURES AND OPTIONS TIMINGS:

• Normal Market Open 11:15 hrs.
• Normal Market Close 12:45 hrs.
• Position Limit/Collateral value Set up cut off time 13:05 hrs.
• Trade modification end time 13:05 hrs.

ASHOKA BUILDCON - BONUS, SPLIT ON CARDS

Ashoka Buildcon will consider bonus and stock split in its forthcoming board meeting which is scheduled for 10th May. The stock is up 2% in today's trade ( Rs194). The company came public in Oct 2010 at Rs 324.

RCOM TIES UP WITH AIRCEL

Reliance Communications  has announced a roaming agreement with Aircel, under which both the companies will use each others' mobile towers to improve network coverage for 2G GSM services. The stock is down 4% and trading at Rs 96, as of now.

BHARTI INFRATEL TO PAY 3 PER SHARE

Bharti Infratel came public in Dec 2012 at Rs 220. The stock is now trading around Rs 178, down 20% to  the issue price.  For the FY 13 the company reported a revenue of Rs 4460 Cr and net profit of Rs 1010 Cr.   The company has an equity base of Rs 1889 Cr.  The Board of Directors  today has considered and recommended a dividend of Rs. 3/- per share for the financial year 2012-13.

FIRST CHOICE IPO PAGE RANK

HUL : OPEN OFFER BY UNILEVER PLC, AT RS 600 PER SHARE

HSBC Securities and Capital Markets,Manager to the Open Offer, has informed the exchanges that Unilever PLC along with Unilever N.V. in its capacity as person acting in concert is making a voluntary open offer to acquire 487,004,772 Shares representing 22.52% of the total Voting Share Capital from the public shareholders of Hindustan Unilever Limited at Rs 600 per share . HUL stock up 19 % (Rs 593) in the early trade today.

SCOTTS IPO BOMBS

Scotts Garments IPO has bombed. The issue has received just 25% subscription till today, the last day. As against 1.05 Cr shares offered the company received bids for 26.40 lac shares, which constitutes 25% of the total offer.

Book Running Lead Manager to the issue has informed the Exchange that the Scotts Garments  issue will close on 3 May, 2013 instead of the earlier closing day on 29 Apr, 2013. Post issue modification date has been revised to 4 May, 2013 .Further price band has revised from 130/- to Rs. 132/- To Rs. 118/- to Rs. 120/- per share

SCOTTS IPO CLOSES TODAY, AVOID THE IPO

Scotts IPO in the price band of Rs 130-132 closes for subscription today. The issue so far has received less than one percent subscription. Poor quality IPO, pathetic BRLM (Keynote). Avoid subscription.

HERO MOTOCORP PROFIT DECLINES

World's largest two-wheeler maker, Hero MotoCorp has reported decline in quarterly net profit.

Net profit for the quarter ended March fell 5% to Rs.574.23 crore from a year ago while sales remained at Rs.6,140 crore. Net profit for the full year declined by 11% to Rs.2,118.60 crore. The results were out after the closure of exchanges and hence the stock reaction to the results will be known on Monday. The stock on Friday closed at Rs 1597, down 1.40 percent.

SCOTTS IPO - FIRST DAY FLOP SHOW

Scotts IPO has received bids for less than 10,000 shares, as against 1.05Cr shares  offered, on day one. The issue closes for subscription on 29-04-2013.

IPO ANALYSIS: SCOTTS GARMENTS – MISLEADING EPS, AVOID

ISSUE OPENS /CLOSES ON	25-04 /29-04-2013
ISSUE SIZE	1,05,06,954 EQUITY SHARES
PROMOTERS	NASEER AHMED
PRICE BAND / FV	RS 130-132 /RS 10
BRLM	KEY NOTE, CANARA BANK
REGISTRAR	LINK INTIME
LISTING	BSE /NSE

BUSINESS

The company is in to manufacture of hi-fashion Ready Made garments for export markets.

Objects of the IPO

The IPO funds are intended to be used for setting up a trouser plant at Doddaballapur and knitting fabric processing unit at Kolhapur, augmenting margins towards incremental working capital requirements and for general corporate expenses.

FINANCIALS   (RUPEES IN CRORES)

	31-03-11	31-03-12	31-10-2012 ( FOR 7 MONTHS)
TOTAL INCOME	504	566	335
PAT	35	84**	20
EQUITY	26.74	26.74	26.74
EPS	13.06	31.43	13.00

**Includes profit on sale of investments amounting to Rs 59cr, which is non-recurring in nature.

MATTERS OF CONCERN

1.   The company is yet to obtain statutory licenses and approval for setting of new units.

2.   Exports constitute 90% of total sales, that too from European union.

3.   Major sales from top 10 customers.

4.   Orders for plant and machineries are not placed and incremental working capital not tied up.

5.   Scotts – trade mark not yet registered.

6.   The company faces competition from established players; slowdown in Euro zone will affect the profitability.

7.   Average cost of acquisition of shares by promoters is just Rs 1.46 paise, per share.

VALUATION AND RECOMMENDATIONS.

The IPO is being lead managed by Keynote Capital who is known to introduce poor quality and fraud issues to the market. The last issue managed by them was Servalaxmi Papers. As against the IPO price of Rs 29, the shares are now trading around Rs 3.

Scotts will have a capital of Rs 39Cr, post IPO. Basing on the published figures up to October 2012, the company may report an after tax profit of Rs 30Cr, which gives an EPS around Rs 8 for FY 13. The profit reported for FY 12 is not to be taken seriously for two reasons. One, IPO was planned for June 2012, due to various reasons it did not materialize.  Profit numbers for that year is appears to be manufactured. Secondly, keeping IPO in mind, the company booked one time profit on sale of investments amounting to Rs 59Cr. If one removes that figure profit from operations will be around Rs 20Cr, which gives an EPS of Rs 7.

At Rs 130-132, the IPO is irrationally priced. Avoid the IPO.

(Keynote is known to prop up share price on listing day.)

FY 13 RESULTS : AXIS BANK KEEPS ITS REPUTATION

Axis Bank, the  third biggest private sector bank has reported a 22 per cent jump in post-tax profit for the March quarter at Rs 1,555 crore, as compared to Rs 1,277 crore  in the corresponding quarter of last fiscal. For the full year the bank reported a net profit after tax of Rs 5179 Cr, up 22 percent. Net interest income grew 24.16 per cent to Rs 2,664 crore.The share of low-cost current and saving account deposits improved to 44 per cent as on March 31, 2013 as against 42 per cent a year ago. Net interest margin widened to 3.70 per cent. The stock closed flat at Rs 1444 on Tuesday.

WIPRO RESULTS TODAY

WIPRO will announce its FY 13 results today. The company had earned a revenue of Rs 32,910 Cr  and net profit of Rs 4685 Cr for FY 12.  It is unlikely the company will post a robust results for FY 13. The stock, among I T pack, is one of the worst performers in the last couple of years. Yesterday it closed at Rs 369, down 2 percent.

FORTHCOMING IPO - WONDERLA HOLIDAYS

ISSUE SIZE	1,45,00,000 equity shares
PROMOTERS	V-GUARD INDUSTRIES
PRICE BAND / FV	NA / RS 10
BRLM	EDELWEISS, ICICI SECURITIES
REGISTRAR
LISTING	BSE / NSE

TCS DOES IT AGAIN,NET PROFIT AT RS 13917 CR FOR FY 13.

Tata Consultancy Services posted a consolidated net profit of Rs 3,616 crore for the quarter ended March 31, 2013 as compared to Rs 2,895 crore for the same quarter in the previous fiscal. On YOY basis TCS has shown a growth of 25 per cent.
  
The consolidated total income grew 23.90 per cent to Rs 16,430 crore for the quarter. 

For the full year ended March 31, 2013, the TCS has posted a net profit of Rs 13,917 crore as compared with Rs 10413 crore for the year ended March 31, 2012.  TCS  reported a total revenue of Rs 62,989 Crore for the year, versus Rs 48,894 crore in 2011-12.  I T stocks are likely to rally today on the back of TCS's stellar performance.

IPO ANALYSIS: SCOTTS GARMENTS - UNREALISTIC PREMIUM - AVOID

ISSUE OPENS /CLOSES ON	25-04 /29-04-2013
ISSUE SIZE	1,05,06,954 EQUITY SHARES
PROMOTERS	NASEER AHMED
PRICE BAND / FV	RS 130-132 /RS 10
BRLM	KEY NOTE, CANARA BANK
REGISTRAR	LINK INTIME
LISTING	BSE /NSE

Track record of BRLMs

In the last 5 years Keynote has managed 9 IPOs, out of which only one issue is trading above the offer price.

NAME OF COMPANY	IPO PRICE	CMP	MONTH /YEAR OF IPO	FIRST CHOICE IPO RECOMMENDATIONS
20 MICRONS	55	31	OCT 2008	AVOID
EDSERVE	60	05	MARCH 2009	NOT ASSESSED
GLOBAL SPIRIT	100	100	SEPT 2009	AVOID
THNAGMAYI	75	190	FEB 2010	INVEST
EMBI POLYARNS	45	12	FEB 2010	AVOID
FAT PIPE	ISSUE BOMBED	NA	JUNE 2010	AVOID
PRAKASH STEELAGE	110	94	AUG 2010	AVOID
BEDMUTHA	102	10	SEPT 2010	AVOID
SERVALAXMI PAPERS	29	03	APRIL 11	AVOID

In the last one decade Canara Bank has not managed a single IPO.

BUSINESS

The company is in to manufacture of hi-fashion Ready Made garments for export markets.

Objects of the IPO

The IPO funds are intended to be used for setting up a trouser plant at Doddaballapur and knitting fabric processing unit at Kolhapur, augmenting margins towards incremental working capital requirements and for general corporate expenses.

FINANCIALS   (RUPEES IN CRORES)

	31-03-11	31-03-12	31-10-2012 ( FOR 7 MONTHS)
TOTAL INCOME	504	566	335
PAT	35	84**	20
EQUITY	26.74	26.74	26.74
EPS	13.06	31.43	13.00

**Includes profit on sale of investments amounting to Rs 59cr, which is non-recurring in nature.

MATTERS OF CONCERN

1.   The company is yet to obtain statutory licenses and approval for setting of new units.

2.   Exports constitute 90% of total sales, that too from European union.

3.   Major sales from top 10 customers.

4.   Orders for plant and machineries are not placed and incremental working capital not tied up.

5.   Scotts – trade mark not yet registered.

6.   The company faces competition from established players; slowdown in Eurozone will affect the profitability.

7.   Average cost of acquisition of shares by promoters is just Rs 1.46 paise, per share.

VALUATION AND RECOMMENDATIONS.

The IPO is being lead managed by Keynote Capital who is known to introduce poor quality and fraud issues to the market. The last issue managed by them was Servalaxmi Papers. As against the IPO price of Rs 29, the shares are now trading around Rs 3.

Scotts will have a capital of Rs 39Cr, post IPO. Basing on the published figures up to October 2012, the company may report an after tax profit of Rs 30Cr, which gives an EPS around Rs 8 for FY 13. The profit reported for FY 12 is not to be taken seriously for two reasons. One, IPO was planned for June 2012, due to various reasons it did not materialise. Profit numbers for that year is appears to be manufactured. Secondly, keeping IPO in mind, the company booked one time profit on sale of investments amounting to Rs 59Cr. If one removes that figure profit from operations will be around Rs 20Cr, which gives an EPS of Rs 7.

At Rs 130-132, the IPO is irrationally priced. Avoid the IPO.

(Keynote is known to prop up share price on listing day.)

CARE FALLS BELOW IPO PRICE

CARE which had issued IPO shares at Rs 750, last year, saw its share fall below the issue price. The shares, intra day touched 52 week low of Rs 746.  In Dec 2012, the shares had touched 52 week high of Rs 985.