Blackberry, which is unable to match its competitors in smart phone market is considering out right sale of the company. Initially it will reduce its work force by 40% by Dec 2013 and simultaneously is scouting for a suitor. In the recent years the company has lost
market share to rivals like Apple Inc and Samsung Electronics Co .
Samsung has overtaken Nokia as number one hand set maker in India. Samsung ended the year with revenues of Rs.11,328 crore in 2012-13 with
31.5% market share. On the other hand, Nokia, with 27.2% market share,
dropped to the No 2 spot. The mobile
handset market in India is estimated to have grown by 15% in 2012-13
to touch Rs.36000 crore, according to Voice&Data Survey.
Rupee closed at a one-month high of 62.83
against the dollar yesterday on hopes of further steps by the regulators to ease investment norms
for overseas entities in government debt would attract more capital
The much discussed smartphones iPhone 5C, iPhone 5S from Apple will be officially launched today. 5S is high end phone where as 5C will be very competitively priced to attract the lower end smart phone customers.
NSE has suspended the equity trading of the following companies w.e.f. September
17, 2013until further
notice on the Capital Market Segment for non- compliance with certain provisions of the Listing Agreement.
We hereby reproduce an article that we wrote in Aug 2012, on Onelife Capital advisors.
Friday, August 24, 2012
Price rigging, scam, manipulation, insider hand,
broker-promoters collusion, fraud are all happening / brewing under the direct nose of the
regulators. This is in respect of share price movement of Onelife Capital
Advisors Ltd. (OCAL). The stock is up from Rs 114 a year ago to Rs 616. SEBI
had barred the promoters of OCAL from participating in the market for diverting
IPO funds for unspecified purposes. In a month, the share price of OCAL is up
27 per cent from a low of Rs 482. Look at the financials of the company. On equity
of Rs 13.36cr, the company reported a loss of Rs 23 lacs for the June 2012
quarter. The company has no history of dividend or bonus.
ABOUT THE COMPANY:
OCAL is a SEBI registered Category I, Merchant Banker.
The company reported sales of Rs 1.56cr and net loss
of Rs 1.99cr, on equity of Rs 13.36, for the year 2012. The EPS is negative.
One life capital came public a year ago at Rs 110. At
the time of going public the company had indicated that they are in the process
of securing license to do business in Equity Broking (BSE) and Portfolio
Management Services from SEBI. The company’s latest website does not indicate
anything about it.
At the time of IPO, the employee strength was eleven.
It had no branches as on the IPO date.
The company started its operations in FY2010;
Income from operations consists principally of income from investment banking
and related services, which includes fee-based income from merchant banking,
corporate advisory (including research services), debt syndication services and
professional fees. In FY10, the company earned a total income of Rs.61.7 lakh
comprising professional fees and consultancy charges.
share price appears to be manipulated; otherwise
there is no reason why a loss making, financial advisory company should
trade in excess of 1000PE. Highest PE for any shares any where in the
SEBI has barred the promoters of Onelife Capital advisors for fraud committed in its own IPO. Among others SEBI has directed Onelife Capital Advisors Ltd and its Managing Director Mr.Pandoo P. Naig shall, jointly and severally, bring Rs35.25 crores, the amount diverted from IPO proceeds into other companies within six months from the date of the order. The Board of Directors of OCAL shall ensure compliance of above direction and submit amonthly progress report in the above regard to SEBI. Further the Board of Directors shall also furnish to SEBI a Compliance Report duly certified by a SEBI registered Merchant Banker within two weeks of compliance of the above direction. Onelife Capital Advisors Ltd and its managing director Mr.Pandoo P. Naig shall be remain restrained and prohibited from accessing the securities market and also prohibited from buying, selling and otherwise dealing in securities market, directly or indirectly, in whatsoever manner, for a period of 3 years from the date of the interim order.