QUESS CORP IPO FULLY SUBSCRIBED

Quess Corp IPO has been fully subscribed on day 2. The IPO closes tomorrow.

ITC FIXES RECORD DATE FOR BONUS ENTITLEMENT

DEMATERIALISED SECURITIES – ROLLING SETTLEMENT SEGMENT
COMPANY NAME  & CODE	RECORD DATE	PURPOSE	Ex-Bonus basis from Date & Sett. No.
ITC Ltd. (500875, 600875)	04/07/2016	Issue of 1 (ONE) Bonus equity share for every 2 (TWO) existing equity shares held.	01/07/2016 DR-065/2016-2017

AXIS MUTUAL FUND LAUNCHES NEW SHEME

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Scheme Name	Axis Hybrid Fund Series-31 (NFO)
NFO Period	June 29, 2016 to July 13, 2016
Scheme Type	A Close Ended Debt Scheme
Benchmark	Crisil Composite Bond Fund Index & Nifty 50
Entry Load	Not Applicable
Exit Load	Not Applicable
Minimum Application Amount in (Rs.)	Rs. 5000/- and in multiples of Rs.10/- thereafter during the New Fund Offer period.

IPO FRAUD: TIJARIA PROMOTERS BARRED FOR 5 YEARS.

SEBI has barred Tijaria Polypipes Limited and its Directors, viz. Mr. Alok Jain Tijaria, Mr. Vikas Jain Tijaria, Mr. Vineet Jain Tijaria and Mr. Praveen Jain Tijaria from buying, selling or dealing in the securities market, in any manner whatsoever, for a period of  five years.

ELECTRIC CARS: BAIDU TO TAKE GOOGLE, APPLE

China’s internet-search giant Baidu is planning to mass produce driverless electric cars in five years. Google and Apple are also planning massive production of electric cars going forward.

IPO NEWS: D-MART PLANS LISTINGS

D-Mart, owned by Avenue Supermarts Ltd, has plans to list its shares on the bourses. The company may raise around Rs 1000 cr through the IPO.

QUESS CORP IPO GETS 41% SUBSCRIPTION ON DAY 1

Quess Corp IPO has received good response on day 1. The IPO got 41% subscription and retail portion subscribed by more than 2 times.

NSE TO DELIST NOVA IRON &STEEL

NSE will delist Nova Iron & Steel w.e.f. July 04, 2016. 

The company was suspended from trading w.e.f. April 26, 2000 due to non compliance of provisions of the Listing agreement.

IPO ANALYSIS: L&T INFOTECH LIMITED - INVEST

   

 ISSUE DETAILS

ISSUE OPENS / CLOSES ON	11-07 / 13-07-2016
ISSUE SIZE	1,75,00,000 EQUITY SHARES
FACE VALUE	RS 1
PRICE BAND	RS 705-710
BUSINESS	IT SERVICES / SOLUTIONS
PROMOTERS	L&T
LISTINGS	BSE, NSE
BRLMs	CITIGROUP, KOTAK, ICICI SECURITIES
REGISTRAR	LINK INTIME
IPO GRADE	NA

DETAILED ANALYSIS POSTED ON 9-7-2016.

Popular News This Week

Weekly News Digest

Black money: Should the taxman crack down�now? financialexpress.com · FirstChoiceIPO views: What black money our PM is talking. Politics is black money and corruption. If there is no money, that too black, people will not come to politics. For serving the public, certainly not. Politics is the most roaring business in India. It has no recession. Most black money in India are held by politicians, businessmen and industrialists who are close to politicians. This talk of black money, corruption will continue for another 100 years, in India.

Popular News This Week

Weekly News Digest

Quess Corp IPO to hit markets on Wednesday; 10 things you should know before�subscribing financialexpress.com · FirstChoiceIPO's views: The IPO is attractively priced. Promoters have proven track record and credibility. Quess is likely to report an EPS around Rs 10 for FY 17. The offer is made around 40 PE, on diluted capital, which is reasonable. Comparable company in the segment is TeamLease which hit the market recently. TeamLease is trading around 56 PE. Invest for listing gains and as well as for long term appreciation.

IPO ANALYSIS: ADVANCE SYNTEX LIMITED - AVOID

    ISSUE DETAILS

ISSUE OPENS / CLOSES ON	30-06 / 04-07-2016
ISSUE SIZE	21,00, 000 EQUITY SHARES
FACE VALUE	RS 10
PRICE BAND	RS 12
BUSINESS	Manufacturing and supplying a top notch quality array of Polyester Film, Textile Glitter Powder, Glitter Powder
PROMOTERS	Bhavan Dhirendra Vora
LISTINGS	BSE SME
BRLMs	HEM SECURITIES
REGISTRAR	SHAREX DYNAMIC
IPO GRADE	NA

IPO ANALYSIS: KKV AGRO POWERS LIMITED – INVEST FOR LISTING GAINS

 ISSUE DETAILS

ISSUE OPENS / CLOSES ON	30-06 /07-07-2016
ISSUE SIZE	RS 3.50 CR
FACE VALUE	RS 10
PRICE BAND	RS 310
BUSINESS	RENEWABLE POWER GENERATION
PROMOTERS	TK CHANDIRAN / (CHENNAI SILK GROUP)
LISTINGS	NSE SME
BRLMs	KARVY INVESTOR SERVICES
REGISTRAR	SKDC CONSULATANTS
IPO GRADE	NA

BUSINESS:

KKV Agro Powers is into renewable power generation. The company has an aggregate installation capacity of 7 MW that includes installations of 6MW Wind Energy and a plant of  solar energy. The company has power plants located at different places in the state of Tamil Nadu.

Weighted average EPS for the last  3 years is Rs 72.

Invest for listing gains.

IPO NEWS : ICICI PRUDENTIAL INS CO

ICICI Prudential Life Insurance Co. Ltd is likely to launch its Rs.6,000 crore initial public offering by year end.The IPO will be the first public offering of a life insurer in India.

ANCHOR INVESTORS PUT RS 180 CR TO QUESS IPO

Quess Corp IPO which opens today has received Rs 180 crore from anchor investors. As many as 15 anchor investors bid at a price of Rs 317 per equity share. Morgan Stanley Mauritius bid for 22.21% of the total allotted shares followed by Birla Sun life Trustee, ICICI Prudential Midcap, The Nomura Trust and Banking among many others.

QUESS IPO OPENS TODAY : ATTRACTIVELY PRICED - INVEST

                                                       ISSUE DETAILS

ISSUE OPENS / CLOSES ON	29-06 / 01-07-2016
ISSUE SIZE	RS 400 CR
FACE VALUE	RS 10
PRICE BAND	RS 310-317
BUSINESS	Integrated business services providers
PROMOTERS	AJIT ABRAHAM ISAAC AND THOMAS COOK (INDIA) LIMITED
LISTINGS	BSE, NSE
BRLMs	AXIS CAPITAL, ICICI SECURITIES, IIFL AND YES SECURITIES
REGISTRAR	LINK INTIME
IPO GRADE	NA

BUSINESS:

Quess is one of India’s leading integrated business services providers focussed on emerging as the preferred partner for handling end-to-end business functions of the clients. The company offers comprehensive solutions including recruitment, temporary staffing, technology staffing, IT products and solutions, skill development, payroll, compliance management, integrated facility management and industrial asset management services.

As of March 31, 2016, company’s Key Clients include some of the world’s largest, reputable organizations, including 20 companies ranked in the 2015 Fortune Global 500 list.

The service and product offerings include four broad operational segments: Global Technology Solutions, People and Services, Integrated Facility Management and Industrial Asset Management.

  

 RISKS:

•    One of the Group Entity, Fairfax, is currently under investigation for    possible    illegal insider trading.

·         The company has acquired many enterprises in the recent past, hence integration risk.

·         The company operates in highly competitive segment.

·         Unprofessional management - There have been eight instances of discrepancies/inadvertent mistakes made in relation to certain filings made by the Company before the RoC. Further, there have been 17 instances of delayed remittance of provident fund contributions, 26 instances of delayed remittance of employees’ state insurance contributions and 34 instances of delayed filing of TDS returns and one instance of non - filing of a TDS return.

·         The acquisition of Brain hunter Systems Limited is challenged under Indian laws. Brainhunter represents a significant percentage of our consolidated revenues and contributed 7.09% and 10.85% of the total revenues from operations in Fiscal 2015 and in Fiscal 2016, respectively.

          FINANCIALS:  (RS IN CRORES)

	31-03-2015	31-03-2016
CAPITAL	25.77	113.33
REVENUES	2572	3442
NET PROFIT	67.21	88.52
EPS	7.28	7.82

   STRENGTHS:

Leading integrated business services provider in diversified business segments, industries and geographies.

Track record of successful inorganic growth with improved financial performance.

VALUATION AND RECOMMENDATIONS:

Promoters(Thomas Cook) have proven track record and credibility. Quess is likely to report an EPS around Rs 10 for FY 17.  The offer is made around 40 PE, on diluted capital, which is reasonable. Comparable company in the segment is TeamLease which hit the market recently. TeamLease is trading around 56 PE.

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