SUZLON'S FY 13 NET LOSS IS 13 TIMES ITS EQUITY.

Suzlon Energy's  fourth-quarter net loss widened to Rs.1,912.72 crore from the year-ago net loss of Rs.300.24 crore. Revenue fell 36.37% to Rs.4,336.44 crore in the three months ended 31 March from Rs.6,815.15 crore.

For the full year, Suzlon reported a net loss of Rs.4,723.96 crore against a net loss of Rs.478.58 crore in the year ago.

DLF ENTERS RED ZONE

India’s largest real estate firm DLF has posted a loss of Rs 4.19 crore for the quarter ended March, compared to a net profit of Rs 211.70 crore in the year-ago period.

DLF saw a 14.9% dip in its revenues to Rs 2,225.5 crore during the same period.

U S TO GROW AT 2.4 PERCENT

US economy  is expected to grow at the rate of 2.4% in the first three months of the year, is slightly slower than the 2.5% rate originally estimated for the quarter.

Although Consumer spending was stronger, but the businesses bought less and some government spending cuts were deeper than previously estimated contributed to lower growth.

FIIs BUYING KEEPS THE INDICES IN GREEN

FIIs have net bought around Rs 800 Cr in cash  market which helped the benchmark indices NIFTY and Sensex to close with modest gains. M&M gained 5% where as Tata Motors and ITC gained 3 odd percent. Other scrips that helped the indices to stay in green are Kotak bank, Indussind, Asian paints, NMDC, HDFC, Grasim and NTPC. Losers included Axis, ICICI, Cipla, Hindalco, J P Associates and DLF. Cash market segment turnover of NIFTY stocks was to the extent of Rs 7795 Cr. F&O had a turnover of 2.83 lac crore, one of the highest in recent times. NIFTY gained 20 points to close at 6124 and Sensex gained 68 points and closed at 20215. 

TATA MOTORS TO PAY 100 PERCENT FOR FY 13

Tata Motors will be paying a dividend of  Rs. 2/- per Ordinary share (100%) and Rs. 2.10 per ‘A' Ordinary share (105%), both of face value of Rs. 2/- each for FY 2012-13

And Rs. 4/- per Ordinary share (200%) and Rs. 4.10/- per ‘A’ Ordinary share (205%), both of face value of Rs. 2/- each for FY 2011-12.

MARKETS TO OPEN WEAK

Markets are expected to open weak on global cues. Markets across the world, yesterday, closed in red. Today being the last day of Futures and Options expiry, long /short positions comes for squaring off, which will determine the further direction of the markets. Weakening rupee is another cause for worry for the markets since it has direct bearing on the CAD.

ADANI ENT, JET AIRWAYS OFS OPENS TODAY.

Nine companies OFS will open for subscription today. Names of the companies and the estimated amount they intend to raise are indicated in the table below: 

SL no	NAME OF THE COMPANY	SIZE OF THE OFFER (RS IN CRORES)
1	ADANI ENT	352
2	JET AIRWAYS	231
3	ESSAR PORTS	182
4	ESSAR SHIPPING	36
5	TTML	28
6	NOVARTIS	25
7	SAINT-GOBAIN	16
8	RDB REALTY	01
9	ADV LIFE STYLE	01

ITC GETS A BOASTER FROM UP GOVERNMENT.

India's biggest cigarette maker and diversified conglomerate ITC got a boaster from the India's largest state. The Uttar Pradesh government  has decided to cut the VAT on cigarettes to 25% from the existing rate of 50%. 

MUMBAI AIRPORT CANCELS HDIL's BOARDING PASS

Mumbai International Airport has terminated the slum rehabilitation contract given to HDIL, forcing the real estate firm to write off the costs incurred and report a loss for the March quarter. Airport sources quoted unnecessary delay in implementing the project as the main reason.

The scrapping of the contract may further delay the proposed expansion and modernization of the Mumbai airport.

The real estate company said it wrote off Rs.441.98 crore after MIAL scrapped the contract, leading to a loss of Rs.279.9 crore in the March-ended quarter.

HDIL made a profit of Rs.315.25 crore in the year-ago March quarter. Revenue in the latest quarter fell to Rs.142.7 crore from Rs.625 crore a year ago.

HDIL stock closed at Rs 48, down 6% in yesterday's trading. The stock is one of the worst performer in the mid-cap category in the last one year. The current price is just above its 52 week low.

FACEBOOK GETS $ 10 MILLION FROM NASDAQ

FB will receive $10 million penalty fees from NASDAQ for trading glitches during the initial public offering of  Facebook last year. The Securities and Exchange Commission said the fine imposed was the largest ever against an exchange.

The huge electronic market's foul-up marred the $16 billion Facebook share issue on May 18 of 2012, the most hotly awaited initial public offering on the US markets in years.

DOLLAR RISES FURTHER

Rupee sank to 10-month lows before closing with 21-paise loss at 56.17. The weakening rupee makes imports costlier that is likely to worsen government's Current Account Deficit woes. However one consolation for India is that the oil prices in the last 90 days are moving towards south.

ONGC FY 13 RESULTS - NET DOWN

ONGC has reported decline in  net profit for the March quarter. Net stood at Rs 3388,  down 40% on QoQ. For the fiscal, net profit was down 16.7 per cent to Rs 20,926 crore on subsidy payout. ONGC paid Rs 49,421 crore in 2012-13, up from Rs 44,466 crore in the previous year. The stock closed at Rs 334.

SCOTTS IPO: THIS IS WHAT WE WROTE IN BUSINESS STANDARD ON 25-04-2013.

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.

The issue bombed, inspite reduction in price band and extended time. 

DECLINE IN NET PULLS DOWN BSE'S FAIR VALUE

BSE's net profit declined to Rs 108.57 crore for the year ended March 31, 2013 from Rs 178.13 crore in the preceding fiscal. BSE's total income fell to Rs 552.80 crore in the fiscal 2012-13, from Rs 578.42 crore in the previous financial year.

Based on the above the estimated 'fair value' of its unlisted shares at Rs 139.06 apiece, as per which the company's value would be nearly Rs 1,500 crore. For the financial year ended March 31, 2012, the fair value of the unlisted shares stood at Rs 161.48 apiece.

Fair Value can be taken into account by the trading members for the purpose of computation of their net worth as on March 31, 2013 and thereafter for the purpose of computation of net worth as on September 30, 2013.

BSE is planning to come out with initial offerings in the next 6 months.

V MART IPO - THIS IS WHAT WE WROTE IN BUSINESS LINE ON FEB 01, 2013.

The company for the eight month ended Nov 2012 reported a revenue of Rs 250 Cr and profit of Rs Cr. The Company post IPO will have equity of Rs 17.95 Cr. The likely EPS for FY13 will be around Rs 10. The company is demanding a PE multiple of 20 which is on the very high side. The average return on net worth in the last 3 years is less than 16%. The IPO is very aggressively priced. Avoid subscription. Fair value of the share in the short term is around Rs 120.  


Today the stock closed at Rs 134, down 6%. 

The IPO was sold at Rs 210. Anand Rathi Advisors were the sole BRLM.

CHINA TO GROW AT 7.50 PERCENT - IMF

China's economy is expected grow at 7.5% in 2013 and 2014. This is below the earlier estimate of 8 percent, according to world bank. Weakness in the global economy is a factor in slowing Chinese export growth.

FORTHCOMING IPO: SUNTORY HOLDINGS (JAPAN).

Osaka-based drinks maker Suntory Holdings has sought permission from Tokyo Stock Exchange to list its food and non beverage unit. The initial public offer is expected to fetch $5 billion, which the company wants to utilize for acquisitions and growth in overseas markets. The IPO will be Japan's biggest IPO of the year.

FIRST CHOICE IPO COMPLETES 4,00,000 PAGE VIEWS

Thank you readers for your continued support. We are pleased      to inform that First Choice IPO has completed 4,00,000 page  views  as of today.

SEBI STARTS SAHARA REFUND

Market regulator SEBI has started refunding monies to the investors of two Sahara group companies. Sahara group had deposited Rs 5120 Cr with SEBI, on the orders of Supreme Court.  A bank account is a must for claiming the refund. The apex court order of 8 May allowed SEBI to refund money deposited with SEBI by Sahara to genuine investors with interest. Sahara has deposited around Rs.5,120 crore with SEBI.

KARNATAKA CET RESULTS 2013

Karnataka CET results are out. Out of the 1,37,560 candidates appeared  38,623 candidates are eligible for medical and dental courses, 68,943 for Indian System of Medicine and Homeopathy, 91,808 for engineering courses and 816 for architecture courses. Counselling will start from June 5, 2013.The  detailed results are available on the official website of KEA. 

DOW ON A SONG

U.S. stocks rose on Tuesday, with the Dow Industrial closing at yet another record high - 15409, up 106 points. Strong house prices, market favorable policies, friendly central banker and improving sentiments in the euro zone are driving the markets to newer highs.

HINDALCO FY 13 RESULTS - REVENUE, NET DOWN.

Hindalco has reported consolidated net profit of Rs 3027 Cr for 2012-13. It is down 11% compared to last year. Revenue is dropped by 0.8% to Rs. 80,193 Cr. For the full year EPS stood at Rs 11.70.  The company has recommend a dividend of Rs 1.40 paise per share (140%). The one rupee face value stock closed flat yesterday at Rs 110.  On YOY basis the stock given a negative growth of 4%, where as benchmark index in the same period has risen by more than 15%. The company is going through difficult times due to sluggish demand for its products, world wide. 

HONDA'S THIRD PLANT AT NARSAPURA

Japanese two-wheeler maker Honda Motorcycles has opened its third plant at Narsapura in Kolar district of Karnataka, first in South India.With the new plant, Honda’s overall annual capacity after considering production figures at its existing two plants in the country — at Manesar in Haryana and Tapukara in Rajasthan — will touch 4.6 million units. 

The new plant has been built at a cost of Rs 1350 Cr. Honda is an unlisted entity in India.

COGNIZANT IS SECOND IN COMMAND

As expected Cognizant has displaced Infosys to become the second largest Indian IT services provider in 2012, according Gartner. 

Cognizant experienced the highest growth rate among the top five providers with an increase of 20.1 per cent in 2012. Its rivals in the US IT services market, Infosys and Wipro  showed revenue growth of just 7.6 per cent and 6.6 per cent respectively in 2012. Top-ranked Tata Consultancy Services posted 15.2 per cent growth in 2012, while fifth placed HCL Technologies grew its revenues by 18.1 per cent.

HERO IN TOP GEAR

Hero MotoCorp gained 7% (Rs 115) to close at Rs 1770 with substantial volume. However the stock still in the negative territory compared to what it was a year ago.

COAL INDIA RESULTS FOR FY13

Coal India's consolidated net profit after taxes, minority interest and share of associates  stood at Rs 17356 Cr for the year ended March 31, 2013 as compared to Rs 14788 Cr for the year ended March 31, 2012. Total Income has increased from Rs 69952 Cr for the year ended March 31, 2012 to Rs 77049 Cr for the year ended March 31, 2013.  EPS for the whole year stood at Rs 15.65. The stock closed at Rs 313, up Rs 3, yesterday.

AMWAY LOSES ITS WAY IN KERALA

The multinational network marketing firm Amway has lost its way in Kerala. Three officials of the firm were taken into custody based on a case filed in 2011 for alleged violation of Prize Chits and Money Circulation Schemes.

The case refers to Vishalakshi. She alleges that she was forced to purchase Amway products worth Rs 1 lakh. Vishalakshi also alleged that she was made to invest Rs 1 lakh in Am-Sure, the insurance arm of Amway, but she lost the money. Following the complaint, crime branch took over the case. As the trio appeared before the police with anticipatory bail obtained from the Kerala High Court, they were released. However, Waynad police arrested them in connection with four similar complaints.

JUST DIAL IPO: ALLOTMENT AT RS 530 A SHARE

Just dial IPO which came public in the price band of Rs 470-543, has fixed the issue price at Rs 530. With 10% discount to retail investors, they will get allotment at Rs 477. The shares are likely to be listed next week.  

RBI PUTS FURTHER CURBS ON GOLD LOAN

RBI has advised that NBFCs and Banks while granting advance against the security of specially minted gold coins sold by them, they should ensure that the weight of the coin does not exceed 50 grams per customer.

RBI has further clarified that banks cannot give advances against gold exchange traded funds and units of gold mutual funds.

NSE NEWS: MOCK TRADING IN F&O

NSE  will be conducting a mock trading (contingency) session in the Futures & Options Segment on Saturday, June 01, 2013 as per the following schedule:

Saturday, June 01, 2013 Time

Normal Market open time 10:00 hrs.

Normal Market close time 12:00 hrs.

Position Limit/Collateral value Set up cut off time 12:10 hrs.

Trade modification end time 12:10 hrs.

NSE NEWS: MOCK TRADING IN CURRENCY DERIVATIVES ON JUNE 01,-2013

NSE  will be conducting a mock trading (contingency) session in the Currency Derivatives Segment on Saturday, June 01, 2013 as per the following schedule:

Saturday, June 01, 2013 Time

Normal Market open time 10:00 hrs.

Normal Market close time 11:00 hrs.

Position Limit/Collateral value Set up cut off time 11:15 hrs.

Trade modification end time 11:15 hrs.

HERO MOTOCORP AND HERO INVESTMENTS RD 30-05-2013.

Share holders of Hero Investments Private Limited will get shares in the ratio of One (1) Equity Shares Hero MotoCorp for every One (1) existing Equity Shares.

High Court of New Delhi has fixed 30-05-2013 as the Record Date for ascertaining the names of the equity shareholders .

RIL LED RALLY

Index heavy weight RIL gained 5% on the news of substantial discovery of gas in KG basin. RIL's contribution to the 300 points Sensex rally is 84 points. Other stocks which contributed significantly to the rally are Sunpharma, IndusSind bank, HDFC group shares, Jindal Steel and Ranbaxy. Only 7 NIFTY and 3 Sensex stocks closed the day in red. The above mentioned shares other than RIL have touched 52 week high. FIIs continues to be net buyers in cash market. On 27-05, they net purchased for Rs 406 Cr, where as DIIs have net sold for Rs 516 Cr.  Last week NIFTY lost more than 200 points due to global cues. Futures and Options for May will expire on 29th. Hence there could be some short covering before the expiry which may take the indices higher.

PM IN JAPAN, DMIC MAY GET A BOASTER

Western Dedicated Freight Corridor envisages the construction of a corridor from Dadri, near New Delhi, to Mumbai, passing through Haryana, Rajasthan, Gujarat and Maharashtra. It is being built with the help of Japanese assistance.

DMIC is aimed at developing new industrial cities as 'smart cities'. A final agreement on the project was signed in 2006. The 1,483-km corridor between Delhi and Mumbai aims to expand India’s manufacturing and services base. Japan has already announced $4.5 billion assistance to the project. The total cost of the project is estimated at $11 billion. PM Manmohan Singh, on 27-05-2013, is expected to brief the the Japanese PM the latest development with the project.

OIL INDIA POSTS MODERATE INCREASE IN PROFITS

Oil India's consolidated net profit stood at Rs. 3592 Cr for the year ended March 31, 2013 as compared to Rs. 3446 Cr for the year ended March 31, 2012. Total Income has increased from Rs. 11279 Cr for the year ended March 31, 2012 to Rs. 11476 Cr for the year ended March 31, 2013.

ASTRA ZENECA PHARMA OFS OPENS ON 28-05-2013

Company Name	AstraZeneca Pharma India
ISSUE SIZE ISSUE PRICE	37,49,950 equity shares of Rs.2/- each NOT YET DECIDED
Date of Offer	May 28, 2013
OFS Bidding Time	09:15 Hrs to 15:30 Hrs
LEAD ARRANGER	ICICI BANK

MARUTI AT 52 WEEK HIGH

Maruti Suzuki stock touched 52 week high of Rs 1777 in today's trade. The stock gained Rs 130 where as bench mark NIFTY gained 16 points in today's trade. Maruti is one of the top performer in the last one year, having gained more then 50%. Sunpharma top the list with 70% appreciation, followed by, Indusind bank 65%, Maruti 54%, HCL Tech 53% and Axis &ICICI bank 52% each. NIFTY, during the same period has gained 16%.

SKS MICRO'S PATHETIC JOURNEY CONTINUES

SKS Micro has reported a loss of Rs 297 Cr for the FY 13. The company's operations are in doldrums after A P government banned its operations in the state. The stock lost ten percent yesterday.

(Rs Cr.)			FY12-13
Revenue			332.20
Net Profit			-297.14
EPS			-30.55
Cash EPS			-26.86
OPM %			-44.55
NPM %			-89.45

SBI'S NPA SURGES, STOCK TANKS 8%.

Gross NPA of SBI swelled to 4.75% from 4.44% a year earlier ago. This led to erosion in NIM. Net profit for the quarter ended March slumped 18.54% to Rs.3,299.22 crore from Rs.4,050.27 crore in the year-ago quarter. Provisions for bad loans surged 40% to Rs.3,974 crore.  The stock tanked 8% yesterday with huge volume and closed at Rs 2172.

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JUST DIAL IPO CLOSES TODAY - AVOID

Just Dial IPO which has received 70% subscription till yesterday closes for subscription today. The IPO has been hyped and  priced very expensively. Do not get fooled by 10% discount and safety net offered. Avoid the IPO.

IPO ANALYSIS: INDIA FINSEC LIMITED - AVOID

ISSUE OPENS /CLOSES ON	24-05 / 28-05-2013
ISSUE SIZE	60,00,000 EQUITY SHARES
PROMOTERS	GOPAL BANSAL, MUKESH SHARMA
PRICE BAND / FV	RS 10 / RS 10
IPO GRADE	NA
BRLM	ARYAMAN FIN SERV
REGISTRAR	SKYLINE FIN SERV
LISTING	SME - BSE

1. Total cumulative profits earned by the company in the last four years is just  Rs 13 lacs. 
2. Weighted average EPS for the last 3 years is 30 paise.

INDIGO MAINTAINS ITS NUMBER ONE POSITION

Indigo's market share touched 30% for the April quarter. The market share percentage of all airlines are indicated in the table below.

NAME OF THE AIR LIE	MARKET SHARE PERCENTAGE
1.    INDIGO	29.8
2.   JET AIRWAYS	22.6
3.   SPICE JET	19.6
4.   AIR INDIA	19.2
5.   GO AIR	8.9

PHANEESH MURTHY OF i GATE DOES IT AGAIN, SACKED.

iGate Corporation  has sacked its president and chief executive Phaneesh Murthy after an investigation found him involved in a sexual harassment charge.  Earlier at Infosys, Murthy faced a sexual harassment charge from his personal secretary Reka Maximovitch which was settled by the company for $3 million in May 2003.

TCS IS NUMBER 1 IN MARKET CAP

TCS, as on yesterday, has a market cap of Rs 2,87,320 crore. This is about Rs 2,508 crore more than the ONGC's m-cap of Rs 2,84,812 crore.  TCS closed flat (Rs 1478) where as ONGC fell by 2.09 per cent to close at Rs 333.

JUST DIAL IPO OPENS TODAY : HYPED, EXTRAVAGANTLY PRICED - AVOID

Just Dial IPO in the price band of Rs 470- 573 with 10% discount to retail investors opens for subscription today. The IPO is irrationally priced in spite of discount offered to retail investors. The company has equity of Rs 69.44Cr. There won’t be any increase in equity post IPO since this is an OFS by existing shareholders.  The offer is made in excess of 50 PE, based on FY 13 figures. And for FY 14 too, the company may post an EPS around Rs 10. The IPO pricing is madness. CITI and Morgan Stanley had fooled the investors in the past with IPOs like SKS Micro and Jay pee Infra. Do not get fooled by the grading given by CRISIL. Grading and pricing are entirely different matters. The IPO should not have priced beyond Rs 150. This is one more hyped and loot maar category IPO like, SKS Micro and A2Z Maintenance.  

AVOID THE IPO.

ANCHOR INVESTORS FOR JUST DIAL

Anchor investors have picked up 39.37 million shares at a price of Rs 530 per piece.These shares are worth about Rs 208 crore. The anchor investors include Goldman Sachs India Fund, HSBC Bank (Mauritius) Ltd., Birla Sunlife Trustee Company Pvt. Ltd., DSP Black rock Opportunities Fund and Deutsche Securities Mauritius Ltd.

Do not blindly follow anchor investors. They had picked up shares in SKS Micro, A2Z, Bharti Infratel, V-Mart Retail, Samvardhana (IPO bombed) and others. Post listing, they all have failed stay above the offer price.

ITC'S NET UP IN Q 4

ITC has posted 19.42 per cent rise in net profit at Rs 1,927.98 crore for the fourth quarter ended March 31, 2013.The company had posted a net profit of Rs 1,614.36 crore in the same period of previous fiscal.

ITC's net profit for the year ended March 31, 2013, rose by 20.38 per cent to Rs 7,418.39 crore, as against Rs 6,162.37 crore in the last fiscal.

The stock is trading flat at Rs 335, as of now.

IPO ANALYSIS: ONESOURCE TECHMEDIA LIMITED –AVOID

ISSUE OPENS /CLOSES ON	17-05 / 21-05-2103
ISSUE SIZE	20,00,000 equity shares
PROMOTERS	KISHAN KUMAR JHUNJHUNWALA,M/S. SKB FINANCE
PRICE (FIXED) / FV	RS 14 / 10
IPO GRADE	NA
BRLM	GUINESS CORPORATE ADVISORS
REGISTRAR	PURVA SHAREGISTRY (INDIA
LISTING	BSE -SME

1.The total profit (after tax) earned by the company in the last four year is just Rs 6.33 lacs. 
2. Average EPS of the last 3 years 6 paise.
3. Offer is made in excess of 200 PE.

Avoid the IPO.