CMS : HALF RESPONDENTS SAYS NOTHING HAS CHANGED UNDER MODI RULE

With the Modi government close to completing its two years in office, a new survey today said nearly half of the respondents (49 per cent) feel “no change” in their living standards while another 15 per cent feel the situation has actually worsened.

The survey, conducted by the Centre for Media Studies (CMS), further claimed that a significant percentage (43 percent) feels that poor people are not benefiting from programmes and schemes under the Modi government.

UJJIVAN IPO GETS 85% SUBSCRIPTION

Ujjivan IPO has received 85% subscription on day 2. The IPO closes on 02-05-2016.

THYROCARE IPO SUBSCRIBED 74 TIMES

Thyrocare IPO which closed today has been subscribed 74 times according NSE data.

ICRA : PASSENGERS VEHICLE MARKET TO GROW AT 10 PERCENT

ICRA says that the Indian passenger vehicle industry’s volumes are expected to grow around 10 percent this year, supported by the return of first-time buyers and  replacement demand, owing to the large base of earlier years.

RIL, SUN PHARMA AND MARUTI TO BOUNCE BACK IN TODAY'S TRADE

RIL, Sunpharma ans Maruti Suzuki will expected to bounce back in today's trade. 

NARENDRA MODI TO ADDRESS US CONGRESS

 India's PM Narendra Modi has been invited to address a joint meeting of the US Congress on June 8,  this has been confirmed by Speaker of the US House of Representative Paul Ryan.

GOLDMAN SACHS : INDIA TO GROW AT 7 PERCENT

Goldman Sachs says that India remains one of the strongest growth stories in the Asia Pacific region as the country has a potential GDP growth rate of around 7 per cent or perhaps even more.

However benchmark indices NIFTY and Sensex tanked more than one and half a percent in yesterday's trade. 

THYROCARE IPO FULLY SUBSCRIBED, UJJIVAN GETS 21%

Thyrocare IPO has been fully subscribed on day 2. Ujjivan IPO has received 21% subscription on day 1. Thyrocare closes today and Ujjivan on 02-05-2016.

FEDERAL RESERVE KEEPS RATES UNCHANGED

US Federal Reserve kept interest rates unchanged but signaled confidence in the U.S. economic outlook.

The US central bank’s policy-setting committee says that the jobs market had improved further despite a recent economic slowdown and that it was keeping a close eye on inflation.

DJIA was marginally up, 51 points,  and closed at 18041.

THYROCARE IPO GETS GOOD RESPONSE ON DAY 1

Thyrocare IPO has been subscribed to the extent of 56% on day 1. The retail portion has been fully subscribed. The IPO closes tomorrow.

IPO ANALYSIS: PARAG MILK FOODS LIMITED - AVOID

ISSUE DETAILS

ISSUE OPENS / CLOSES ON	04-05 /06-05-2016
ISSUE SIZE	RS 300 CR PLUS OFS OF 2.05 CR SHARES
FACE VALUE	RS 10
PRICE BAND	RS 200-227
BUSINESS	Manufacturers and marketers of dairy-based branded food products.
PROMOTERS	DEVENDRA SHAH, PRITAM SHAH AND PARAG SHAH
LISTINGS	BSE, NSE
BRLMs	KOTAK, IDFC, MOTILAL AND JM FINANCIALS
REGISTRAR	KARVY
IPO GRADE	NA

DETAILED ANALYSIS POSTED ON 03-05-2016.

THYROCARE IPO OPENS TODAY - AVOID

Thyrocare IPO opens for subscription today. The offer is made around 40 PE based on FY 16 earnings. The IPO is aggressively priced  inspite of average fundamentals. The management is also not so professional.

AVOID THE IPO.

Like QuickHeal, TeamLease, Bharat Wire and HCG Global the IPO is likely to list below its offer price. 

(Thyrocare Technologies IPO :10 things to know before investing financialexpress.com ·) FirstChoiceIPO says:

Avoid the IPO since it is very aggressively priced. The stock is unlikely to list at premium.

Search this web for detailed analysis.

MARUTI SUZUKI'S NET MARGINALLY UP

Maruti Suzuki has reported a  profit of Rs. 4698 cr for the year ended March 31, 2016 as compared to Rs. 3807 cr for the year ended March 31, 2015. 

The total income has increased from Rs. 51666 cr million for the year ended March 31, 2015 to Rs. 59083 cr million for the year ended March 31, 2016.

Despite not so impressive results the stock gained Rs 135 and closed at Rs 3869 in yesterday's trade.

AXIS BANK REPORTS DECENT PROFIT DESPITE SLUGGISH ECONOMY

Axis Bank has reported profit at Rs 2,154 crore for the 4 th quarter despite general sluggish in the economy. 

For the full year, the bank reported a post-tax net profit of Rs 8,349 crore, up 12 per cent.

ULTRATECH's RESULT UNIMPRESSIVE

Ultratech has posted unimpressive results for the 4th quarter.

The company has posted a net profit  of Rs. 7225.60 million for the quarter ended March 31, 2016 where as the same was at Rs. 6572.00 million for the quarter ended March 31, 2015. 

Total Income is Rs. 69584.70 million for the quarter ended March 31, 2016 where as the same was at Rs. 66475.30 million for the quarter ended March 31, 2015.

The Audited Consolidated results for the Year ended March 31, 2016 as follows:

Net profit after stood at Rs. 22865.80 million for the year ended March 31, 2016 where as the same was at Rs. 20983.40 million for the year ended March 31, 2015.

Total Income is Rs. 257701.20 million for the year ended March 31, 2016 where as the same was at Rs. 246900.60 million for the year ended March 31, 2015.

(Note - On account of the acquisition of Gujarat units of Jaypee Cement Corporation Limited  w.e.f. June 12, 2014, the figures for the year ended March 31, 2016 are strictly not comparable with previous year.)

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UDAY scheme deadline may be extended by 1�year financialexpress.com · FirstChoiceIPO says Another scam is brewing.

RESULTS TODAY

Among others, Axis Bank , Biocon , Bharti Infratel, IDFC Bank, Maruti Suzuki India and Rallis India will release their earnings for the March quarter today.

IPO ANALYSIS: BAJAJ HEALTHCARE LIMITED - AVOID

           

    

       ISSUE DETAILS

ISSUE OPENS / CLOSES ON	27-04 / 02-05-2016
ISSUE SIZE	18,17,600 EQUITY SHARES
FACE VALUE	RS 10
PRICE BAND	RS 170
BUSINESS	PHARMA - API
PROMOTERS	Sajan Kumar R. Bajaj
LISTINGS	BSE SME
BRLMs	ARYAMAN FINANCIAL SERVICES
REGISTRAR	SHAREX DYNMICS
IPO GRADE	NA

RISKS:

1. This IPO is not from well-known business group - BAJAJ.

2. The company has incurred loss in 2013, earned an EPS of Rs 3 in FY14 and an EPS  of Rs 11 in FY 15.

3. Disputed tax liability around Rs 5 cr.

4. The company has not regularly serviced the non-cumulative preference shares in the past.

5. Funding requirement not assessed.

6. Biggest risk factor -  BRLM - associated with the IPO.

AVOID THE IPO.

IPO ANALYSIS: UJJIVAN FINANCIAL SERVICES LIMITED - INVEST

ISSUE DETAILS

ISSUE OPENS / CLOSES ON	28-04/02-05-2016
ISSUE SIZE	RS 358 CR PLUS OFS OF  24,968,332 Equity Shares
FACE VALUE	RS 10
PRICE BAND	RS 207-210
BUSINESS	MICRO FINANCE / SMALL FINANCE BANK
PROMOTERS	PROFESSIONALLY MANAGED
LISTINGS	BSE, NSE
BRLMs	KOTAK MAHINDRA CAPITAL, AXIS CAPITAL, IIFL HOLDINGS AND ICICI SECURITIES
REGISTRAR	KARVY
IPO GRADE	NA

BUSINESS:

Ujjivan offers full range of financial services to the economically active poor who are not adequately served by financial institutions. The business is primarily based on the joint liability group lending model for providing collateral free, small ticket-size loans to economically active women.

The enterprise also offers individual loans to Micro & Small Enterprises. It is one amongst 10 companies to receive license from the RBI to set up a small finance bank.

The company has adopted an integrated approach to lending, which combines a high customer touch-point typical of microfinance, with the technology infrastructure and related back-end support functions similar to that of a retail bank. This helps to manage increasing business volumes and optimise overall efficiencies. A technology-enabled business model has been our strategic priority, and the back-end of our operations has a fully integrated IT platform. 

Ujjivan also provides non-credit offerings comprising of life insurance products, in partnership with insurance providers such as Bajaj Allianz Life Insurance Company Limited, Kotak Mahindra Old Mutual Life Insurance Limited and HDFC Standard Life Insurance Company Limited. 

RISKS:

1. Banking sector is fiercely competitive, particularly vis-a-vis public sector banks, established private sector banks that already have an extensive physical networks as well as NBFCs, other small finance banks, payment banks and other financial services companies.

2. Microfinance loans are unsecured, if not recovered promptly, will add to bad loans.

3. The company has experienced negative cash flows in the past.

FINANCIALS:  (RS IN CRORES)

	31-03-2013	31-03-2014	31-03-2015
TOTAL REVENUES	234	358	612
NET PROFIT / LOSS	33	58	76
EQUITY	65.58	65.58	86.13
EPS	4.97	8.38	10.62

For the 9 months ended Dec 2015 the company has reported revenue of Rs 729 cr,

net profit of Rs 122 and an EPS of Rs 13.37.

VALUATION AND RECOMMENDATIONS:


Leading MFI with a deep pan-India presence. 

Customer centric organization.  

Professional management, experienced leadership and strong corporate governance. 

Robust risk management / technology driven operating model. 

Strong track record of financial performance.

As of December 31, 2015, the net asset value per Equity Share is Rs 93.92. 

The company is likely to report an EPS around Rs 18 for FY 17, on post IPO equity.

The offer is made at 13 PE on the above earnings which is attractive. Professionally managed enterprise. Small Finance Bank license will help the company to expand its reach, brand image and provide additional financial services.

INVEST for listing gains and  as well as for long term appreciation.

HDFC BANK BUCKS THE TREND, REPORTS RECORD PROFIT

HDFC Bank for March quarter net profit of Rs. 33742.20 million, as compared to Rs. 28069.10 million for the quarter ended March 31, 2015. 

Total Income has increased from Rs. 155701.30 million for the quarter ended March 31, 2015 to Rs. 188626.10 million for the quarter ended March 31, 2016.

For the FY 16, the consolidated profit stood at Rs. 128013.30 million, as compared to Rs. 106888.90 million in FY 15.

Total Income has increased from Rs. 602121.80 million for the year ended March 31, 2015 to Rs. 743732.20 million for the year ended March 31, 2016.

RIL POSTS HIGHER PROFIT DESPITE NEGATIVE GROWTH

RIL for the 4th quarter has posted a net profit of Rs. 73980 million, as compared to Rs. 63810 million for the Quarter ended March 31, 2015. 

Total Income has decreased from Rs. 696420 million for the Quarter ended March 31, 2015 to Rs. 620100 million for the Quarter ended March 31, 2016.

The Audited Consolidated results for the Year ended March 31, 2016 :

The Group has posted a net profit of Rs. 276300 million for the year ended March 31, 2016 as compared to Rs. 235660 million for the year ended March 31, 2015. 

Total Income has decreased from Rs. 3839300 million for the year ended March 31, 2015 to Rs. 2841560 million for the year ended March 31, 2016.

DROP IN OIL PRICES : CAIRN INDIA REPORTS LOSS IN EXCESS OF RS 10,000 CR

Cairn India has reported its biggest quarterly loss of Rs 10,948 crore in the quarter ended March 31 mainly because of impairment loss on goodwill and non-producing oil and gas assets due to drop in oil prices.

Net loss of Rs 10,948.22 crore in January-March compared with a net loss of Rs 240.82 crore in the same period a year ago.

The stock closed flat at Rs 151 in today's trade.

EQUITAS LISTS AT 27% PREMIUM

Micro lender Equitas Holdings IPO shares were listed at 27% premium. As against the IPO price of Rs 110, the shares were listed at Rs 141.

THYROCARE FIXES IPO PRICE BAND

Thyrocare Technologies has fixed the price band in the range of Rs 420-426, for its forthcoming IPO. 

IPO LISTING NEWS : EQUITAS HOLDINGS TO LIST ON 21-04-2016

Equitas Holdings IPO shares will be listed on exchanges on 21-04-2016.

TODAY'S TIPS FOR TRADING

             

                  BUY CALL     

                                                                                  (AMOUNT IN RUPEES)

COMPANY	BUY AT	STOP LOSS	TARGET
JUST DIAL	880	866	902
RIL	1064	1051	1088
TCS	2522	2477	2601
LUPIN	1575	1561	1603
SUN PHARMA	835	826	855
AXIS BANK	444	434	457