Monday, March 31, 2014

DELHI ASSEMBLY ELECTIONS IN AUG 2014?

Supreme Court has granted two weeks to both BJP and Congress to make their stand clear whether either of them is in any position to stake claim for government formation in Delhi in the wake of the Assembly being kept under suspended animation following the resignation of Aam Aadmi Party Government. It is unlikely that either BJP or Congress will stake claim. After that SC will again take up the matter and Delhi will be placed under president rule for brief period at  least till the formation of new governemnt at Center.  The election commission then look into holding elections for Delhi assembly and this may happen in Aug/ Sept, this year.

LVB SEEKS REGULATOR NOD FOR RIGHTS ISSUE

Karur head quartered  Lakshmi Vilas Bank has sought  Sebi approval to raise around Rs 500 crore through rights issue.  All banks have to comply with Basel III norms before 31-03-2019. In this regard banks have to shore up their capital / net worth before the dead line given.


LVB has 362 branches spread over 15 states.

Axis Capital would be the lead manager to the offer. 

FIIs PUMP IN RS 79,700 CR IN 2013-14 TO INDIAN EQUITY MARKET

FIIs have pumped in  an amount of Rs 79,709 crore to the equity market in the fiscal 2013-14. In the same period Sensex has gained more than 3500 points.

This is the fifth consecutive fiscal year inflows by foreign investors after pulling out a net amount of Rs 47,700 crore from the share market in the global melt down year. 


J&J SELLS ORTHO-CLINICAL BUSINESS TO CARLYLE GROUP



Johnson & Johnson has sold its Ortho-Clinical Diagnostics business to P E major Carlyle Group for $4  billions.

Ortho-Clinical business serves hospitals, testing laboratories and blood banks. It supplies equipment and  chemicals to screen donated blood for HIV, hepatitis C and other serious diseases. It also makes  technology for advanced testing of blood to diagnose health conditions and to monitor medication  effects.

SUZLON SIZZLES ON MARKET RUMOR

Suzlon stock went by more than ten percent and closed at Rs 11.10 with huge volumes on the news that the company is eyeing  LSE Listing for an arm and also looking to acquire a US based Company.

However Suzlon has refused clarify media reports.

In a filing with exchange authorities Suzlon has clarified that - 'Suzlon is exploring various options to re-balance its capital structure and accordingly we would re-look at our capital structure during the next financial year'. 

SUN PHARMA TO BUY SCB'S OFFICE BUILDING.

Sun Pharmaceutical  will buy Standard Chartered Bank's office building in Mumbai’s Goregaon for Rs.280 crore, according to sources.

RIL FLARES UP ON SC ORDER

RIL shares on the exchanges went up by Rs 22 and closed at Rs 938, as  Supreme Court  has appointed former Australian Supreme Court judge James Spigelman as a presiding arbitrator in a dispute between  the company and the oil ministry over reimbursement of full cost of developing its KG-D6 gas field.
James Spegelman is the former chief justice of New South Wales Supreme Court.

FORTHCOMING IPO : GMR ENERGY

GMR Energy has filed papers with the regulators for an IPO. The company intends to mobilize around Rs 1500 crore from the issue. Apart from this there could OFS to the extent of Rs 250 crore. The IPO may hit the market in the third quarter of this fiscal. The track record of GMR group in rewarding the primary market investors are very poor. Hence unless the IPO is attractive, the issue may not generate much interest among investors, particularly retail.

PHARMA, POWER AND TECH STOCKS DRAG INDICES

NIFTY is trading around 6706, up just 7 points. Pharma, power and Tech stocks are trading in the red zone. Dr Reddy's is down Rs 64, Lupin is down Rs 4. Among power stocks Tata Power and Power Grid both down Rs 2 each. Tech stocks - TCS, INFY Tech Mahindra and WIPRO are all in the negative territory as of now.

HERO MOTOCORP IN TOP GEAR, HITS 52 WEEK HIGH

Hero Motocorp stock is up by Rs 44 and trading at Rs 2297, a new 52 week high. The stock has risen 49% in the last one year and 16% in the last one month.

RIL MARKET CAP NEAR 3 LAC CRORE

RIL's shares are up Rs 10 and trading around Rs 920. At this price the market cap of the company stands at 2.97 lac crore. This is likely to go beyond Rs 3 lac crore in a day or two.

L&T GETS ORDER WORTH RS 1009 CRORE

Larsen & Toubro Ltd has  received orders amounting to Rs. 1009 Crores. The order has been received for  Construction, Transportation and Power infra segment. The stock is up Rs 10 as of now and trading around Rs 1298.

IPO SCAM - KARVY MONEY ATTACHED

Special court probing the IPO scam has attached Rs 65 lakh worth  fixed deposit of  Karvy Consultants.

The case pertains to the scam that was perpetrated in the stock market during the  launch of Initial Public Offers (IPOs) floated by two firms --IDFC and Yes Bank  in 2005  where shares meant for retail investors were fraudulently cornered by others. 

The case was probed by both the Securities and Exchange Board of India (SEBI) and  the CBI. 



MARKETS TO OPEN IN GREEN, CLOSING DOUBTFUL

Indian stock markets are expected to open in green this morning following positive trend as  seen in other Asian markets.  However  markets may close flat or with negative bias.

SELL ON RISE, MARKET WILL COME DOWN AFTER ELECTION RESULTS.

According to our analysis and prediction no party / alliance will get majority in the coming LS election. NDA will be the largest group but will fall short of majority by more than 50 seats. There could be kichidi government with out side support from Congress/ UPA.  In such a scenario FIIs will stay away from investing here. We advise investors to sell on every rise and stay in cash mode, as markets will come down after election results.

IPO NEWS : CHINA GENERAL NUCLEAR POWER GROUP MAY CHANGE ITS LEAD MANAGER

China General Nuclear Power Group’s originally appointed  lead manger - Deutsche Bank AG, is  likely to be replaced by another leading investment bank.

Deutsche Bank bank employs the daughter of  China General Nuclear’s chairman, He Yu. This could be prime reason for replacement.


INDIA BULLS REAL ESTATES FY 14 RESULT ON 23-04-2014


TATA POWER'S RIGHTS ISSUE OPENS TODAY

Tata Power's rights issue opens today. Tata Power is offering 7 equity shares for every 50 shares held on right basis. The rupee one face value share  has been priced at Rs 60. The rights issue closes on 15-04-2014.

KARNAD BATS FOR NILEKENI

Acclaimed Kannada play writer and Jnanpith awardee Girish Karnad has canvassed for Bangalore South  candidate Nandan Nilekeni.

RBI MAY GO REPO RATE CUT

RBI may go for a repo rate cut in its monetary policy to be announced this week. Two factors may force the central bank weigh for this option -  a slowing economy and the high cost of credit.

Currently repo rate stands at eight percent. 

Sunday, March 30, 2014

WORLD'S TOP WEB SITES


NAME OF WEB SITE
POSITION
COUNTRY
GOOGLE.COM
1
USA
FACEBOOK.COM
2
USA
YOUTUBE.COM
3
USA
YAHOO.COM
4
USA
LIVE.COM
5
USA
BAIDU.COM
6
CHINA
WIKIPEDIA.ORG
7
USA
BLOGSPOT.COM
8
USA
QQ.COM
9
CHINA
TWITTER.COM
10
USA

(BASED ON THE TRAFFIC IN 2013)


PwC SUED FOR $1 BILLIONS

The bankruptcy administrator of M F Global Holdings has sued the auditor PricewaterhouseCoopers for $1 billion over its advice on a $6.3 billion European sovereign debt investment which ultimately led to collapse of M F Global.
M F Global accuses  PwC committed professional malpractice by offering flatly erroneous advice concerning, and approval of, the off-balance-sheet accounting treatment for the debt by MF Global.

Saturday, March 29, 2014

SEVEN FINANCIAL WONDERS OF MODERN INDIA

1. M S SHOES SCAM.


2. HARSHAD MEHTHA'S MEGHA MARKET SCAM.

3. KETAN PAREKH STOCK MARKET MANIPULATION.

4.PENTA FOUR, DSQ GROUP OF COMPANIES SWINDLING THE PUBLIC      MONEY.

5. C R B CAPITAL MARKETS ACT OF DEFRAUDING SMALL DEPOSITORS.

6. GLOBE TRUST BANK-THE ACT OF DISAPPEARING.

7. RAMALINGARAJU'S SATYAM SCAM.

ABG SHIPYARD CDR CLEARED

SBI led consortium has cleared the recast of Rs.10,000 crore in loans advanced to ABG Shipyard. 
This is the second biggest loan recast in recent times by Indian banks, after Rs.13,500 crore debt reorganization done for engineering and construction company Gammon India a year ago.

GODREJ PROPERTIES TIES UP WITH SSPDL

Godrej Properties  has tied up with SSPDL Green Acres LLP to develop a residential project in Chennai.
The stock rallied around six percent and closed at Rs 202, yesterday.

SEBI IMPOSES PENALTY ON ZODIAC

SEBI has penalized Zodiac for not making annual shareholding disclosures for the year 2008 within the stipulated time. Besides, the company has violated regulatory norms by allotting shares issued on preferential basis before the prescribed time. Zodiac and its promoters has been directed to pay Rs 13 lacs.

iPHONE 6 IN SEPTEMBER - APPLE



Apple which is steadily losing its market share to its rival Samsung will  release its newest iPhone in September, with higher resolution and bigger screens.
The new handset, expected to be called the iPhone 6, is to come in two versions with a 4.7- or 5.5-inch screen, both bigger than the current four-inch panel.

AIRTEL - PROMOTER GROUP COMPANY BUYS SHARES

Bharti Airtel's promoter group entity Bharti Telecom has bought 57.14 lakh shares of the company for Rs 171.92 crore through various market transactions.

With this Bharti Telecom stake in the company has been now been raised to 43.72 per cent. The promoter group had 65.23 per cent in the company at the same period.


Airtel closed at Rs 319, up Rs 9 in the exchanges yesterday. In the last one year the stock has given a return of 9 percent, where as the bench mark indices have gone around 20% in the same period.

Friday, March 28, 2014

KEJRIWAL ATTACKED IN HARYANA

Arvind Kejriwal of AAP was  attacked and hit on  neck by an unidentified man who has been assaulted by his party activists during his campaigning Charkhi Dadri area in Haryana.

BLACKBERRY REPORTS $5.9 BILLION LOSS

Blackberry's revenue stood at $6.8 billions for the fiscal ended March 1, 2014, down 38% from $11.1 billions in fiscal 2013.
The Company's GAAP net loss from continuing operations for fiscal 2014 was $5.9 billion.
In the fourth quarter the company made a loss of $423 millions, compared with a loss of $4.4bn in the previous quarter.

RAJAN EFFECT: RUPEE SLIPS BELOW 60 LEVEL AGAINST DOLLAR

Just days before Rajan took over as chief of RBI, people were wondering which will first touch the 100 mark. Dollar or price of one kilo onion or price of one liter petrol. All the three were moving in one direction at top gear.  Rajan put break on upward movement of rupee by unleashing series of measures. From 68 level the rupee has slipped below 60 level in today's trade. Rupee closed at 59.90, down 40 paise from yesterday's closing.  Lower rupee value against dollar indicates strength of the Indian currency. 

FORTHCOMING IPO - SHARDA CORP CHEM



NAME
SHARDA CORP CHEM LIMITED
PROMOTERS
 Ramprakash V. Bubna, Sharda R. Bubna, Ashish R. Bubna and Manish R. Bubna
ISSUE SIZE
PUBLIC  ISSUE OF 22,555,124 EQUITY SHARES OF FACE VALUE OF RS 10.
PRICE BAND
-

BUSINESS
Marketing and distribution of   
formulations and generic active ingredients
LISTING
BSE / NSE

BRLM
Edelweiss Financial Services  and IDFC Capital
REGISTRAR
KARVY




TCS TIES UP WITH CARGILL

Agro processing major Cargill will outsource some of its global IT operations to TCS. 

TCS GETS SAUDI ARABIAN BANK CONTRACT

TCS has signed a pact with a Saudi Arabian bank to implement a new core banking software platform. The state-of-the-art banking platform - TCS BaNCS will replace the existing software systems and support Saudi's National Commercial Bank's entire core banking operations, including ATMs and online channels.  

WAL-MART ACCUSES VISA OF EXCESS CHARGING.

Wal-Mart has accused VISA of excessively charging as card swipe fees.

The world's largest retailer, is seeking damages from price fixing and other antitrust violations that it claims took place between January 1, 2004 and November 27, 2012.

Wal-Mart contends that that the way Visa set swipe fees violated antitrust regulations and generated more than USD 350 billion for card issuers over the nearly 9-year period in question, in part at the expense of the retailer and customers.

CHINA CONSTRUCTION BANK TO ISSUE DOLLAR DENOMINATED BONDS

China Construction Bank is planning to issue dollar-denominated bonds, testing demand for the nation's bank debt after the cost of insuring similar notes have jumped.

Investor perceptions of risk for China Development Bank Corp. , Export-Import Bank of China and Bank of China have  worsened the most since last Dec.


THIRD PARTY INSURANCE TO UP FROM 1ST APRIL

The third party  insurance premium for most vehicles will go up from 1st April as per IRDA directives.
According to the directive  TP insurance premium for private cars with less than 1,000 cc engine capacity will be Rs.1,129 up from the current rate of Rs.941.
The new premium for private cars with engine capacity over 1,000 cc and below 1,500 cc will be Rs.1,332 up from Rs.1,110. For cars with engine capacity over 1,500 cc the new premium rate will be Rs.4,109 up from Rs.3,424.
In the case of two wheelers with less than 75cc engine, the new premium will be Rs.455 up from Rs.414.
For two wheelers with more than 75 cc-150 cc engine, the revised premium will be Rs.464 up from Rs.422.

CANARA BANK RAISES RS 1000 CRORES

Canara Bank has raised Rs 1000 crore by issuing Tier-II Bonds( Basel III complaint) . The issue was opened and closed on March 27, 2014.  The stock closed at Rs 251, up Rs 5, on the exchanges yesterday.

TECH STOCKS TO RALLY TODAY.

Tech stocks which were subdued in the last 3-4 trading sessions are expected to gain momentum in today's trading. Among tech stocks,TCS is our best bet.

INDIAN HOTELS TO ISSUE CONVERTIBLE DEBENTURES .

Indian Hotels, a company belonging to Tata group plans to raise up to Rs 1,000 crore by issuing compulsory convertible debentures, from its existing shareholders. 


INDIAN TECH COMPANIES TO BENEFIT FROM PRODUCTION SHIFT

American manufacturing companies are shifting production to the United States and wants to reduce their reliance on low-cost labour in China. This will help Indian technology outsourcing companies like TCS, Infosys and others to shore up their revenues in a big way.


IPO NEWS : ALLY FINANCIAL TO RAISE $2.66 BILLIONS

Ally Financial Inc which was bailed out by the U S government after 2008 crisis plans to list its shares. U.S. government will sell the bulk of its stake in the company in an initial public offering that could raise up to $2.66 billions.

Ally Financial Inc was previously known as GMAC Inc, is head quartered in Detroit and was founded in the year 1919 by General Motor Corporation.
The auto lender was bailed out for $17.2 billion during the 2008 financial crisis. 

BASEL III IMPLEMENTATION EXTENDED BY A YEAR.

RBI has extended the deadline for Indian banks to meet capital requirements under the Basel III norms by a year to 31 March 2019, offering relief to an industry burdened by bad loans in the face of slower economic growth.

RICH PROMOTER, COMPANY SICK COMPANY

Tulsi Tanti  has been re appionted as managing director of Suzlon for another three years with pay hike.
His annual remuneration will increase to Rs 3 crore from Rs 2 crore. Suzlon is making annual loss in excess of Rs 1000 crores for the past many years.

GOOGLE SEARCH - MODI TOPS LIST

Narendra Modi of BJP tops the Google search followed by Aam Aadmi Party leader Arvind Kejriwal and Prime Minister Manmohan Singh. 

According to Google India’s Score, while Modi saw 85 per cent seach, Kejriwal stood second at 65 per cent and Manmohan Singh third at 62 per cent. Likewise Congress Vice President Rahul Gandhi and Maharashtra Navnirman Sena Chief Raj Thackeray were ranked fourth and fifth respectively.

Thursday, March 27, 2014

SAMSUNG LAUNCHES GALAXY S5

Samsung Galaxy S5  has hit the market in India. It is priced between Rs 51,000 and Rs 53000.  The phone being launched in India is not powered by the Qualcomm Snapdragon 801 and hence would not a 4G phone.

IPO NEWS : TubeMogul PLANS TO RAISE $75 MILLIONS



California based video advertising company - TubeMogul  plans to raise $75 millions through the IPO. The company intends to list its share on NYSE.
TubeMogul’s revenues stood at $57.2 million in 2013, up from $34.2 million in 2012. It incurred a net loss of $7.4 million last year, compared to a net loss of $3.6 million in 2012.

PSU BANK STOCKS WILL OUT PERFORM PEERS IN THE PRIVATE SECTOR, NEXT FISCAL

PSU banks are aggressively pursuing recovery efforts, taking over managements and even brokering deals with private equity players in an effort to trim bad loans. The worst is behind them. Select PSU bank stocks like SBI, BOB, Canara and Corp Bank will out perform their private sector peers  such as Axis, ICICI and HDFC Bank , next fiscal. BUY these stocks at current level. 

RELIANCE MEDIA - FINAL OFFER PRICE RS 61

Reliance Media which is delisting its shares from the exchanges has offered Rs 61 as the offer price. This has been arrived through the reverse book building (RBB) process. This is at 25% premium to the floor price it fixed at the beginning of the offer. The stock closed at Rs 59, up Rs 1 in the exchanges.

SRINI, RR AND CSK BOWLED OUT BY SC

SC has suggested to replace BCCI president Srinivasn by Sunil Gavaskar and proposes to  ban controversial IPL  teams - Rajasthan Royal and Chennai Super Kings from playing in the 7th version, which starts from 16th April. SC gave this decision while hearing the spot fixing case. SC has set a 24 hours dead line to comply the order.

SC gave reasons for barring the two teams - CSK, owned by India Cements, which is promoted by Srinivasan, and RR, whose players and team officials are allegedly involved in the scandal.


TCS IS FASTEST GROWING BRAND : BRAND FINANCE

Brand Finance, leading brand valuation firm, which assesses the dollar value of the reputation, image and intellectual property of the world's leading companies, says TCS  has been judged as the fastest growing IT services brand globally beating tech giants like IBM and Hewlett-Packard.

MODI IS BJP, BJP IS MODI REMINDS ME OF D K BAROOAH ERA.

It appears too much worshiping ala sycophancy to Modi is going on in BJP. Neither it is good for the party nor country. It reminds the slogan coined by D K Barooah, the then Congress president (1975-77) on the then PM Indira Gandhi. He used to quote in public rallies that 'Indira is India and India is Indira'. Indira and her party Congress suffered the worst defeat in the history in the 1977 general elections, propagandizing that slogan.

GOLDMAN SACHS UP GRADES SBI AND BOB TO BUY

Goldman Sachs has up graded the PSU banking behemoth SBI and the other leading PSU lender BOB to buy. SBI is up Rs 45 and BOB is Rs 10, as of now in the exchanges.

BANK OF AMERICA -MERRILL LYNCH CAUTIONS INVESTORS

American brokerage Bank of America-Merrill Lynch has cautioned against excessive fear of the poll outcome as in 2004 and the over-enthusiasm of 2009, saying the market should look more at the global economic cycle and its impact on growth than who takes charge at the 7 Race Course Road  after the hustings.

We also agree with the above views. Altough who takes care at the 7 RCR does matter to some extent, the stocks should rally on the underlying fundamentals and its business prospects.

SUNPHARMA, SBI AND WIPRO UP IN THE EARLY TRADE

Sunpharma, SBI and WIPRO are up one percent each in the early trade. Where as Sensex is up 30 points and NIFTY is up 4 points.

TATA POWER RIGHTS ISSUE OPENS ON 31-03-2104

Tata Power's 33,22,30,130 (Rs1FV) rights equity offer will open on 31st of this month and close on 15-04-2014. The company is offering 7 rights share for every 50 fully paid up  shares as on the eligibility date, that is 20-03-2014.  The offer price is Rs 60, including the premium of Rs 59. The company will mobilize Rs 1993.38 crore from the offer. Last date for receipt for split request is 08-04-2014. JM Financial Institutional Securities, BNP Paribas, HSBC Securities, Kotak Mahindra Capital and SBI Capital Markets are the lead managers to the offer. Link Intime India are the registrar to the issue.

IPO LISTING NEWS : KING MAKES WORST IPO DEBUT

King Entertainment (Candy Crush Saga maker) stock ended its first day of trading down 13 percent from its offer price. That's the worst first-day performance for a major US IPO in the last 15 years.
The company came IPO at $22.50 a share and listed on the New York Stock Exchange.

IBM OFFERS SMAC SOLUTIONS TO TELECOM PLAYERS

IBM has unveiled a slew of Social, Mobile, Cloud and Analytic (SMAC) solutions, for telecom operators in India.

RIL WINS MYANMAR OFF SHORE CONTRACTS

RIL has won two offshore blocks in Myanmar and will enter into production-sharing contracts with the Myanmar government.
RIL stock closed at Rs 890, up Rs 12, in the exchanges, yesterday.

11 MONTHS INDIRECT TAX COLLECTIONS UP

Indirect tax collections grew by 5.6 per cent to Rs 4,41,826 crore in the period from April last year to February this year.

FED RESERVE REJECTS CITIGROUP'S BUY BACK PLAN

Federal Reserve has rejected plans by Citigroup to buy back shares and boost dividends for shareholders.
Citigroup had planned to buy back $6.4bn shares by the beginning of 2015, and increase dividends by 5%.
Citigroup's shares fell more than 5% in after-hours trading in New York.

Wednesday, March 26, 2014

7 REASONS WHY OUR PRIMARY MARKET IS IN DOLDRUMS.

Sensex and NIFTY are almost near their life time high. FIIs in the last one year have pumped in more than Rs 57,000 crores in to the equity  market.    In spite of this, only 6 IPOs have been introduced to the market in the last 15 months and out of this  3 IPOs have been bombed. The bombed IPOs are - Scotts Garments, Sai Silks and the latest Loha Ispaat. Then what ails our primary market?. According to our assessment the following could be the reasons why primary market is not lively as secondary markets:

1. Irrational pricing of the IPOs. 
2. Greediness of the promoters.
3. Poor quality of merchant bankers.
4. Improper IPO grading.
5. Attitude of  merchant bankers to secure assignments at any cost.
6. Paid  IPO analysis.
7. Lack of business ethics of the most participants.

BLACKBERRY Z10 PRICED AT RS 17,990.


BlackBerry Z10 - touch screen device's price has been brought down from Rs 44,000 when it was launched a year ago to Rs 17,990. India is a price sensitive market. At this price company hopes to beat its rivals - Apple, Samsung, HTC and local heroes like Micromax.

SC GRANTS CONDITIONAL BAIL TO SAHARA CHIEF

SC has granted conditional bail to Sahara chief Subrata Roy. The group should deposit Rs 5000 crore in cash with SEBI and furnish a bank guarantee of another Rs 5000 crore.

IPO ANALYSIS: R&B DENIMS -AVOID

R&B Denims IPO will open on 28th March and closes on 04-04-2014. The company will issue of 37.10 lakh equity shares of face value of Rs 10 each for cash at par aggregating to Rs 3.71 crore. The shares will be listed on SME - BSE plat form. The company is primarily engaged in the manufacturing and selling of Denim Fabric.  The objects of the issue are to reduce overall indebtedness of the company by partial repayment of the outstanding bank term loan. 

INFY RESULTS ON 15-04-2014

INFY will announce fourth quarter and full year results for FY 14 on 15-04-2014.

LOSS MAKING BOX FILES IPO PAPERS

Box Inc which incurred loss of $169 and $113 millions in the last 2 years has filed papers with NYSE for an IPO. Box is an enterprise which provides cloud storage services.

BRIGHT PROSPECTS

According to the International Data Corporation (IDC), digital information is expected to grow 200 times from 2014 to 2020. This prospects may attract investors, if priced rightly. 

DENA BANK PREF ISSUE @ RS 52.91

Dena Bank will raise Rs 366 crore through a preferential allotment of shares to Life Insurance Corporation of India and General Insurance Corporation. The issue price is fixed at Rs 52.91 per share. Dena Bank scrip is trading around Rs 56.50 as of now. 

Life insurance giant LIC will be putting in Rs 282 crore as part of the capital raising programme, while GIC will invest Rs 84 crore, the city-based lender said in a statement. 

Post issue, the Government's shareholding in the bank will come down to 58.01 per cent from the 66.57 per cent level. 


CBDT TO FURTHER SIMPLY E-FILING

Central Board of Direct Taxes  is encouraged by the increasing number of taxpayers taking the online route and hence wants to further simplify the process of filing. 

The e-filing of returns this financial year saw a jump of 40 per cent with 2.56 crore online returns being filed till March 22 as compared with over 1.80 crore e-returns filed by taxpayers during the corresponding period last year. 


RIL BOUNCES BACK, SENSEX UP 100 POINTS

RIL has bounced back in the morning trade after yesterday's drubbing. The stock had lost 3% in yesterday's trading. Today it is up Rs 7, with huge volumes. The stock is likely to cross Rs 900 mark today/tomorrow. Sensex is up 100 points as of now.

SEBI IMPOSES RS 75 LAKHS FINE ON RDB IPO SCAMSTER


Market regulator SEBI has imposed a fine of Rs 75 lacs on  Shri Prakashbhai Ishwarbhai Rana, who manipulated the share price of RDB Rasyans Limited on the listing day.

RDB came out with an IPO of 45,00,000 equity shares of Rs 10 FV share at an price of Rs 79 each, the issue was opened on 21.09.2011 and closed on 23.09.2011. 

This is what we wrote on the IPO, in Sept 2011:


The Kolkata based RDB Rasayans Limited is into manufacture of Flexible Intermediate Bulk Containers (FIBCs), Polypropylene (PP) Tape, PP woven sacks, Woven fabrics, Industrial woven fabric, PP woven fabrics and PP woven bags. The company has manufacturing facility in Haldia with installed capacity of 7,000 MTPA. The Group has presence in infrastructure development, cigarettes and tobacco, printing and packaging, containers and bags, automobiles, retail business and power transmission.
The company’s products are used in fertilizers, cement, polymer chemicals, textiles, automobile and steel industry.
The company to increase the capacity intends to set up another unit, for that purpose funds are raised through the IPO.
FINANCIALS:
RS IN CRORES, EXCEPT EPS.

31-03-09
31-03-10
31-03-11
SALES (NET)
30.61
28.47
46.13
PAT
1.95
0.78
1.80
EPS
4.29
1.85
1.40


MATTERS OF CONCERN:
  1. The company had inconsistent growth in the past.
  2. Depends for sales, on a single / very few customers.
  3. Negative cash flow in the last 3 years, out of five.
  4. Fully equity funded project.
  5. No track record of dividends.
  6. Average cost of acquisition of shares by promoters – S L Dugar (2.50), Vinod Dugar (0.78) and Sheetal Dugar (0.76).
  7. Highly competitive, low margin segment.
  8. Volatility in raw material prices and the company’s inability to pass the same.
  9. Highly regulated industry especially for food grade products.
10. There are number of outstanding litigation against the promoter and group
Companies, involving an amount of Rs 150 Cr.
  1. 28 group companies have incurred loss in the last 3 years.
  2. IPO grading 2 by Brickwork, which is equal to grade 1 by CRISIL.

VALUATION AND RECOMMENDATIONS:

The company, post issue will have equity of Rs 17.71Cr. Even to earn an EPS of Rs 5 the company has to earn a PAT of Rs 8.85 Cr, which is unlikely, considering the company’s past track record. Family owned, managed, small time player in the segment.

At Rs 72 -79, the issue has been priced around 50PE.

The issue is being managed by Charted Capital who managed the Gyscoal Alloys IPO last year. As against the issue price of Rs 71, the stock is trading around Rs 11.

The other issues BRLM was associated in the past is Syncom Health ans Sea TV.

AVOID THE IPO.

NHB'S BONDS TO LIST TODAY

Secured Redeemable Non-Convertible Tax Free Bonds of National Housing Bank will be listed and admitted to dealings on the Exchanges from today. Trading shall be in the Normal market segment (Rolling Settlement) for all investors.

HDFC BANK FY 14 RESULTS ON 22-04-2014

HDFC Bank will announce its full year results for FY14 on 22-04-2014.

OBEROI BUYS TATA STEEL'S BORIVALI EAST LAND

Oberoi Realty being declared the highest bidder at the auction of about 25 acres 
of land parcel owned by Tata Steel Limited and located in Borivali (East), Mumbai.

IPO NEWS : KING ENTERTAINMENTS PRICES ITS SHARE AT $22.50 A PIECE

King priced its IPO at $22.50 per share, the stock will  debut on the New York Stock Exchange on Wednesday. It is offering of 22.2 million shares  and will raise about $500 million at that price. At the IPO price the company is valued around $ 7 billions.

Ananth Kumar - dirty politics

Here is what Nandan says about Ananth's dirty politics.

Today I filed a complaint with the Election Commission and the Press Council of India on the recent lies and omissions that are being spread by vested interests and by Ananth Kumar. 
I have said from the beginning, that I am running a clean, honest campaign, because I stand for a better kind of politics. My opponent is not doing the same.
Ananth Kumar is trying to gain mileage, by abusing a government program which he was himself promoting only a few months ago.
He asked just one question on Aadhaar the entire time he was in Parliament. And now, why this sudden concern? Just a few months ago, he was advertising himself on Aadhaar enrolment banners in Bengaluru South. Once I entered politics however, he began to attack the program.
He is part of the pro-corruption, anti-development forces who are trying to discredit a powerful anti-corruption effort, one that will empower ordinary citizens across the country.
The UIDAI never said that the number was mandatory. 
This is another falsehood that my opponent is spreading. Rather some government agencies may decide to make the number mandatory to remove leakages and fraud in their systems.
The ruling from the Supreme Court yesterday was in response to a motion filed by the UIDAI itself, since the agency didn’t want to share resident data for a criminal investigation. The Supreme Court upheld the position of the UIDAI. The UIDAI has always valued the privacy of resident data and the agency went to the courts to ensure that people’s privacy is protected. 
It is sad that Ananth Kumar has to resort to such desperate tactics. He is doing this, because he has no good record to defend – he is busy taking credit for Cauvery 2nd stage, which was completed in the late 1970s, and for Cauvery 3rd stage, which was completed in the early 1990s! Now, he is using Modi to try and get elected because he has nothing to say about himself. He is attacking Aadhaar to draw attention away from his own lack of achievements. 
While my opponent is trying to spread rumours, ordinary people have come up to me and told me how the Aadhaar number has helped them. They tell me it has helped them open a bank account, has helped them get a driving license, helped them get the benefits they are eligible for. Rs. 2,000 crorehas already been transferred with the help of Aadhaar into lakhs of accounts for ordinary people. 
I am here to solve the problems of the people.
I am here because our city, our constituencies have been ignored for much too long. 
Here are the various falsehoods and inaccuracies being reported:

  1. The UIDAI project has spent Rs.50,000 crore: This is misinformation and is grossly inaccurate. The UIDAI has clearly stated in its budget that it spent Rs.3,813 crore as of December 2013 – around half of BBMP’s annual budget. There is no UIDAI budget that states Rs.50,000 crore as either planned, or as spent budget. The program is expected to save Indian taxpayers an estimated Rs.30,000 crore per year in the next few years by reducing corruption.

  2. The claim that Aadhaar is given to ‘illegal immigrants’: Aadhaar only gives you a unique identity, not a citizenship card. Anyone residing in the country can get an Aadhaar card because the number does not guarantee citizenship. This is printed on the card: that it’s not a proof of citizenship.

  3. Provides identity of Indians to Pakistani terrorists: This is again a dangerous falsehood. The Aadhaar database is stored safely and securely under government control, and cannot be stolen and sold. When the Indian government agency CBI requested Aadhaar information, the UIDAI moved the Supreme Court in protest, and yesterday the Court upheld the stand of the UIDAI.

  4. ‘You can get an Aadhaar in the name of Bin Laden’: This is again a fundamental misunderstanding of how the Aadhaar number works. You can get an Aadhaar acknowledgement slip under a fake name, but your own biometrics will be linked to it. So if you have a previous Aadhaar number, the Bin Laden Aadhaar will not be accepted by the database – it will be rejected as duplicate.

  5. Ananth Kumar himself falsely implies, on his Facebook post, that the SC bench considers Aadhaar “Niraadhaar”. Here he is putting words into the mouths of the Honourable Supreme Court.

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Cisco, the net working giant will build the world’s largest global Inter-cloud ( network of clouds) to capitalize on the growing trend of companies opting for services rather than buying and maintaining own IT infrastructure.

CISCO will invest US$1 billion over the next two years to expand its cloud business. With this CISCO aims to take on IBM and amazon head on in this segment.

LOHA ISPAAT IPO BOMBS

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