The way to gain a good reputation is to endeavor to be what you desire to appear. SOCRATES
Tuesday, June 30, 2015
NSE NEWS : MOCK TRADING ON 04-07-2015
NSE will conduct a Mock trading (Contingency) on Saturday, July 04, 2015 session in the Capital Market Segment.
Start Time End Time Trading Session 1
Pre Open* 08:00 hrs 08:08 hrs Normal Market 08:15 hrs 09:30 hrs
Call Auction Illiquid session* 08:30 hrs 09:30 hrs Closing Session 09:40 hrs 09:42 hrs Trading
Session 2 Pre Open* 11:15 hrs 11:23 hrs Normal Market 11:30 hrs 15:30 hrs Call Auction Illiquid
Session* (3 sessions of 1 hour each) 12:30 hrs 15:30 hrs Auction Market 14:00 hrs 15:15 hrs Closing Session 15:40 hrs 16:00 hrs Re-Login time 17:30 hrs 18:00 hrs.
Start Time End Time Trading Session 1
Pre Open* 08:00 hrs 08:08 hrs Normal Market 08:15 hrs 09:30 hrs
Call Auction Illiquid session* 08:30 hrs 09:30 hrs Closing Session 09:40 hrs 09:42 hrs Trading
Session 2 Pre Open* 11:15 hrs 11:23 hrs Normal Market 11:30 hrs 15:30 hrs Call Auction Illiquid
Session* (3 sessions of 1 hour each) 12:30 hrs 15:30 hrs Auction Market 14:00 hrs 15:15 hrs Closing Session 15:40 hrs 16:00 hrs Re-Login time 17:30 hrs 18:00 hrs.
Sunday, June 28, 2015
CHINA'S CENTRAL BANK REDUCES RATES AGAIN
China's central bank has reduced one year lending rate by 25 basis points to 4.85% effective 28 June.
The one-year deposit rate will fall by 25 basis points to 2%, while reserve ratios for some lenders including city commercial and rural commercial banks will be cut by 50 basis points.
The one-year deposit rate will fall by 25 basis points to 2%, while reserve ratios for some lenders including city commercial and rural commercial banks will be cut by 50 basis points.
Saturday, June 27, 2015
IPO ANALYSIS: GALA PRINT CITY LIMITED
|
ISSUE OPENS / CLOSES ON
|
30-06
/06-07-2015
|
|
ISSUE SIZE
|
12,66,000 EQUITY SHARES
|
|
PRICE
|
RS 24
|
|
FACE VALUE
|
RS 10
|
|
BUSINESS
|
PRINTING - multi-colour
offset printing services,
|
|
PROMOTERS
|
|
|
|
|
|
LISTING
|
|
|
|
|
|
|
|
|
BRLM
|
GUINESS CORPORATE
|
|
REGISTRAR
|
SHARE PRO
|
|
|
|
|
IPO GRADING
|
NA
|
IPO ANALYSIS: M D INDUCTO CAST LIMITED
|
ISSUE OPENS / CLOSES ON
|
30-06 /02-07-2015
|
|
ISSUE SIZE
|
63, 84,000 EQUITY SHARES
|
|
PRICE
|
RS 27
|
|
FACE VALUE
|
RS 10
|
|
BUSINESS
|
MFRS OF TMT BARS AND BILLETS
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|
PROMOTERS
|
NIKHIL GUPTA, SAHIL GUPTA
|
|
|
|
|
LISTING
|
BSE SME
|
|
|
|
|
|
|
|
BRLM
|
PANTOMATH
|
|
REGISTRAR
|
KARVY
|
|
|
|
|
IPO GRADING
|
NA
|
IPO ANALYSIS: MAJESTIC RESEARCH SERVICES AND SOLUTIONS LIMITED
|
ISSUE OPENS / CLOSES ON
|
30-06 /02-07-2015
|
|
ISSUE SIZE
|
11,20,000 EQUITY SHARES
|
|
PRICE
|
RS 12.75
|
|
FACE VALUE
|
RS 10
|
|
BUSINESS
|
|
|
PROMOTERS
|
Majestic Market Research Support
Services Limited, Rajendra Kumar Sharma and Sarang Jayant Panchal
|
|
|
|
|
LISTING
|
BSE SME
|
|
|
|
|
|
|
|
BRLM
|
PANTOMATH
|
|
REGISTRAR
|
BIG BIGSHARE
|
|
|
|
|
IPO GRADING
|
NA
|
IPO ANALYSIS: JIYA ECO PRODUCTS LIMITED
|
ISSUE OPENS / CLOSES ON
|
29-06 -02-07-2015
|
|
ISSUE SIZE
|
24,12, 000 EQUITY SHARES
|
|
PRICE
|
RS 19
|
|
FACE VALUE
|
RS 10
|
|
BUSINESS
|
MFRS OF BIO-FUEL
|
|
PROMOTERS
|
BHAVESH KAKADIYA / OTHERS
|
|
|
|
|
LISTING
|
BSE SME
|
|
|
|
|
|
|
|
BRLM
|
PANTOMATH
|
|
REGISTRAR
|
BIG
|
|
|
|
|
IPO GRADING
|
NA
|
IPO ANALYSIS: VMV HOLIDAYS LIMITED
|
ISSUE OPENS / CLOSES ON
|
29-06 -01-07-2015
|
|
ISSUE SIZE
|
RS 156 LACS
|
|
PRICE
|
RS 10
|
|
FACE VALUE
|
RS 10
|
|
BUSINESS
|
TRAVEL& TOUR BUSINESS
|
|
PROMOTERS
|
Vikram
Bajaj and M/s. Vikram Bajaj (HUF
|
|
|
|
|
LISTING
|
BSE- SME
|
|
|
|
|
|
|
|
BRLM
|
GUINESS CAPITAL
|
|
REGISTRAR
|
SHAREPRO
|
|
|
|
|
IPO GRADING
|
NA
|
RAJAN WARNS OF GREAT DEPRESSION
Global economy is "slowly slipping" into Great Depression-like problems of 1930s, RBI Governor Raghuram Rajan has warned, asking central banks from across the world to define "rules of the game" to find a solution.
Rajan, who is among the few to have predicted the 2008 financial crisis, said the problem was a "broader" one and for the entire world -- not just for industrial countries or emerging markets.
Rajan, who is among the few to have predicted the 2008 financial crisis, said the problem was a "broader" one and for the entire world -- not just for industrial countries or emerging markets.
Friday, June 26, 2015
MANPASAND IPO SCRAPES THROUGH
Manpasand IPO has received 1.4 times subscription on the last day. The IPO has been bailed out by Mutual Funds and QIBs.
TODAY'S QUOTE
Things may come to those who wait, but only the things left by those who hustle. ABRAHAM LINCOLN
MASTEK CIRCUIT FILTER REVISED TO 20%
BSE has revised the circuit filter for 8 stocks including Mastek, with effect from June 26, 2015.
Sr. No.
|
Scrip Code
|
Scrip Name
|
Circuit Filter % Revised to
|
1
|
523704
|
Mastek Ltd
|
20
|
2
|
539091
|
Consecutive Investment & Trading Company Ltd
|
20
|
3
|
514118
|
Eskay KnIT India Ltd
|
10
|
4
|
514286
|
Ashima Ltd
|
10
|
5
|
524709
|
Nagarjuna Agrichem Ltd
|
10
|
6
|
532416
|
Next Mediaworks Ltd
|
5
|
7
|
536738
|
Stellar Capital Services Ltd
|
5
|
8
|
512437
|
Apollo Finvest India Ltd
|
5
|
RBI's FINANCIAL STABILITY REPORT
The Reserve Bank of India has released the Financial Stability Report (FSR) June 2015, the eleventh issue of its half yearly publication.
The FSR reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability, as also the resilience of the financial system. Besides, the Report discusses issues relating to development and regulation of the financial sector.
Highlights:
Global environment
Global economic recovery still seems to be far from being self-sustaining even as spill-overs from the monetary policy stance in advanced economies (AEs) are increasing the challenges for emerging market and developing economies (EMDEs). Developments on the Greek debt crisis front and uncertainty over the timing of rate increases by the US Federal Reserve remain immediate possible triggers for global financial market volatility.
On domestic front
On the domestic front, there has been significant improvement in the macroeconomic environment and going forward, economic performance is expected to be better. External vulnerability has reduced and progress has been made with regard to fiscal consolidation. While foreign portfolio flows to India have been strong during the past year, unexpected changes in AE monetary policy may lead to slowdown/reversal of such flows with implications for segments of financial markets. India is though better prepared to deal with the volatility, as compared to previous episodes.
Banking sector
While risks to the banking sector, as reflected by the Banking Stability Indicator and Map, have moderated marginally since September 2014, concerns remain over the continued weakness in asset quality indicated by the rising trend in stressed advances ratio of scheduled commercial banks (SCBs), especially of public sector banks (PSBs). Macro stress tests suggest that current deterioration in the asset quality of SCBs may continue for few more quarters, and PSBs may have to bolster their provisions for credit risk from present levels, to meet the ‘expected losses’ if macroeconomic environment were to deteriorate under assumed stress scenarios. However, capital to risk weighted assets ratio (CRAR) of SCBs, at system level, was observed to remain above the regulatory minimum even under adverse macro-economic conditions assumed in these tests.
The falling profit margins and decreasing debt repayment capabilities of the corporate sector add to these concerns, though overall leverage level in Indian economy is comfortable when compared to other jurisdictions.
While the regulatory move towards encouraging greater market access and market discipline will help the development of domestic financial markets, the banking sector, especially the PSBs will be expected to continue to shoulder the needs of the accelerating growth in the economy. In this context, the policy initiatives for improving the governance and management processes at public sector banks become significant.
Securities and commodities markets
The concerns emanating from rapid rise in algorithm trading in recent years highlight the need for caution for India’s securities markets, while measures have been taken to address the same. Significant steps have been taken to tighten the regulations dealing with illegal money-raising activities and insider trading, and also to strengthen the risk management systems at depositories.
The agricultural insurance needs urgent focus in the wake of frequent episodes of weather related calamities and their impact, particularly on small and marginal farmers. On the other hand, there is a need to harmonise the regulation of physical commodities market and strengthening the linkages between the derivatives markets and physical (cash) markets, mainly in agricultural commodities.
The expected shifts in demography in coming decades call for attention on old age income security and pension schemes, especially in the case of unorganised sector for which a new scheme has been announced by the union government.
Conclusion
Overall, India’s relatively stronger macroeconomic fundamentals in terms of growth, inflation, current account and fiscal deficits provide a reasonable degree of resilience to Indian financial system in the event of spill-over effects from global factors. However, with the continued uncertainty over global growth and in the absence of effective international monetary policy coordination, there can be no room for complacency.
The FSR reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability, as also the resilience of the financial system. Besides, the Report discusses issues relating to development and regulation of the financial sector.
Highlights:
Global environment
Global economic recovery still seems to be far from being self-sustaining even as spill-overs from the monetary policy stance in advanced economies (AEs) are increasing the challenges for emerging market and developing economies (EMDEs). Developments on the Greek debt crisis front and uncertainty over the timing of rate increases by the US Federal Reserve remain immediate possible triggers for global financial market volatility.
On domestic front
On the domestic front, there has been significant improvement in the macroeconomic environment and going forward, economic performance is expected to be better. External vulnerability has reduced and progress has been made with regard to fiscal consolidation. While foreign portfolio flows to India have been strong during the past year, unexpected changes in AE monetary policy may lead to slowdown/reversal of such flows with implications for segments of financial markets. India is though better prepared to deal with the volatility, as compared to previous episodes.
Banking sector
While risks to the banking sector, as reflected by the Banking Stability Indicator and Map, have moderated marginally since September 2014, concerns remain over the continued weakness in asset quality indicated by the rising trend in stressed advances ratio of scheduled commercial banks (SCBs), especially of public sector banks (PSBs). Macro stress tests suggest that current deterioration in the asset quality of SCBs may continue for few more quarters, and PSBs may have to bolster their provisions for credit risk from present levels, to meet the ‘expected losses’ if macroeconomic environment were to deteriorate under assumed stress scenarios. However, capital to risk weighted assets ratio (CRAR) of SCBs, at system level, was observed to remain above the regulatory minimum even under adverse macro-economic conditions assumed in these tests.
The falling profit margins and decreasing debt repayment capabilities of the corporate sector add to these concerns, though overall leverage level in Indian economy is comfortable when compared to other jurisdictions.
While the regulatory move towards encouraging greater market access and market discipline will help the development of domestic financial markets, the banking sector, especially the PSBs will be expected to continue to shoulder the needs of the accelerating growth in the economy. In this context, the policy initiatives for improving the governance and management processes at public sector banks become significant.
Securities and commodities markets
The concerns emanating from rapid rise in algorithm trading in recent years highlight the need for caution for India’s securities markets, while measures have been taken to address the same. Significant steps have been taken to tighten the regulations dealing with illegal money-raising activities and insider trading, and also to strengthen the risk management systems at depositories.
The agricultural insurance needs urgent focus in the wake of frequent episodes of weather related calamities and their impact, particularly on small and marginal farmers. On the other hand, there is a need to harmonise the regulation of physical commodities market and strengthening the linkages between the derivatives markets and physical (cash) markets, mainly in agricultural commodities.
The expected shifts in demography in coming decades call for attention on old age income security and pension schemes, especially in the case of unorganised sector for which a new scheme has been announced by the union government.
Conclusion
Overall, India’s relatively stronger macroeconomic fundamentals in terms of growth, inflation, current account and fiscal deficits provide a reasonable degree of resilience to Indian financial system in the event of spill-over effects from global factors. However, with the continued uncertainty over global growth and in the absence of effective international monetary policy coordination, there can be no room for complacency.
MANPASAND IPO CLOSES TODAY - AVOID
Manpasand IPO in the price band of Rs 290-320 closes for subscription today. THe IPO so far has received 36% subscription till yesterday. The IPO has been irrationally priced. Avoid the IPO.
Thursday, June 25, 2015
KERALA GOVT ROPES IN STEFFI GRAF AS BRAND AMBASSADOR
Kerala government has decided to rope in tennis legend Steffi Graf as brand ambassador for tourism and ayurveda.
Wednesday, June 24, 2015
MANPASAND IPO GETS 6% SUBSCRIPTION ON DAY 1
Manpasand IPO has received 6% subscription day 1. Retail portion has been subscribed to the extent of 31% of the shares reserved for the category.
FIVE OUT OF 7 IPOs THAT HIT THE MARKET IN 2015, TRADES BELOW OFFER PRICE.
Five out of 7 IPOs that hit the market are trading below the offer price. That includes, PNC Infra, Ortel, Adlabs, MEP Infra and UFO Moviez. FirstChoice IPO had recommended to stay away from all these IPOs.
WORLD MARKETS STAY IN GREEN ON THE HOPES OF GREEK DEAL
Stock markets across the world closed on positive note yesterday, hoping that new Greek proposal may be accepted by lenders with some modifications.
MANPASAND IPO OPENS TODAY - AVOID
Manpasand IPO opens for subscription today. The IPO has been irrationally priced.
The immediate past record of the BRLMs are also not encouraging. Kotak managed Ortel and Adlab. Both are trading below IPO price, where as ICICI Securities managed PNC Infra. That too is trading below its offer price. For IIFL this is the first IPO in the last 3 years.
Medium and long term investors should avoid the IPO.
VALUATION AND RECOMMENDATIONS:
The company will have an equity around Rs 50 cr, post IPO. The offer is being made around 40 plus PE, based on FY16 earnings, which is expensive for a single segment / product company. New capacity planned with ₹152 crore of the issue proceeds is likely to commence production only in January 2017. The company’s margins, RONW and EPS have come down in the last 2 years. Company's business fortune is subject to vagaries of nature.
The immediate past record of the BRLMs are also not encouraging. Kotak managed Ortel and Adlab. Both are trading below IPO price, where as ICICI Securities managed PNC Infra. That too is trading below its offer price. For IIFL this is the first IPO in the last 3 years.
Medium and long term investors should avoid the IPO.
Listing gain aspirants can take a chance.
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