Wal-Mart eyes stake in Flipkart

Wal-Mart, the world’s largest retailer, is in talks to buy around 20 per cent stake in Indian e-commerce enterprise Flipkart.

Flipkart, recently augmented its kitty with funding of about USD 4 billion. 

Among others, the entities that infused funds to Flipkart are - Japanese conglomerate Soft Bank about USD 2.5 billion, while Tencent, Microsoft and eBay pumped in about USD 1.4 billion.

KTK 6th Pay commission recommends 30% hike

The Karnataka Sixth Pay Commission has submitted its first report to chief minister Siddaramaiah and has recommended a 30 per cent hike in basic salary including for pensioners. 

The report will be placed in the next Cabinet meeting for approval, and with elections fast approaching, the cabinet is expected to approve the same with minor changes. 

Galaxy Surfacants IPO gets 20 times subscriptions

Galaxy Surfacants IPO has received 20 times subscription (Provisional) on the final day.

Ranbaxy mess : Delhi HC allows Daiichi's plea.

Delhi High Court has allowed Japanese pharmaceutical major Daiichi's plea against former Ranbaxy promoters Malvinder and Shivinder Singh and enforced Rs 36 billion arbitrary award.

Daiichi had approached the High Court last year to seek the enforcement of a Rs 26 billion Singapore arbitrary award delivered in April 2016.

The arbitrary award is also under challenge by Singh brothers in Singapore Court of Appeals.

Provisions take toll on ICICI Bank in q3

ICICI Bank has reported 32% decline in net profit at Rs 1650 Cr for the quarter ended December 2017 as against Rs 2442 Cr, a year ago. Provisions rose 32% to Rs 3570 Cr from Rs 2712 Cr in year-ago period.

Net interest income rose 6% to Rs 5705 Cr as compared to Rs 5363 Cr in December 2016.

Both Fiis, Diis net sell in today's market

Both Fiis and Diis have net sold in today's cash market. Diis have sold for Rs 282 Cr, where as Fiis sold for Rs 106 Cr.

Benchmark indices closed in the red.  Nifty lost 81 and Sensex 250 points in today's trade.

Galaxy Surfacants IPO subscribed 4.13 times on day 2

Galaxy Surfacants IPO has been subscribed 4.13 times on day 2. The IPO closes tomorrow. FirstChoiceIPO estimates the subscription may cross 100 times on the final day. 

Where is the transparency?

Among others, Modi government boosts of transparency in governance. Look at the plight of RTI activist: 

Khalid Mundappilly had approached the Prime Minister's Office on November 22, 2016 under the RTI Act after Prime Minister Narendra Modi a few days earlier on November 8 announced the ban on currency notes of Rs 1,000 and Rs 500.

But his query did not receive any response within the mandatory 30 days period after which he filed a complaint against the PMO before the commission on January 9, 2017.

 Now he has approached the CIC.

Central Information Commission has directed the finance ministry to reply to a one-year-old RTI application seeking to know the total black money collected by the government post-demonetization.

IOC's net doubles, stock up 4%

India Oil Corp has reported a net profit at Rs 7,883 crore for the  Dec quarter. 
The company had reported a net profit of Rs 3,995 crore in the same quarter of the last fiscal.

IOC's revenue for the quarter in consideration increased to Rs 1,30,865 crore as compared to Rs 1,15,630 crore as compared to previous year.

The gross refining margin for the April-December period stood at $8.28 per barrel as against $7.36 for the same nine months of 2017.

The stock reacted positively and closed at Rs 416, up 4% in today's trade.

ICRA says bank deposits rate may go up

With banks' credit outpacing deposits in the last few months, pushing up the credit-deposit ratio, banks are likely raise deposit rates in the near-term, according to rating firm ICRA.  

Amber Enterprises stock closes at 44% premium

Amber Enterprises stock closed at Rs 1235, up 44% from the IPO price. More than 1 Cr shares were traded on NSE.

FirstChoiceIPO had strongly recommended for subscribing to the public offer.

Amber Enterprises debuts at 30% premium

Amber Enterprises shares were listed on the bourses today. As against the IPO price of Rs 859, the stock is trading around Rs 1120, up 30%. 

IPO ANALYSIS : FOCUS SUITES SOLUTIONS & SERVICES - INVEST

Issue Details :

Issue opens  / closes on	30-01 /01-02-2018
Issue size	36,08,000 equity shares
Face value	Rs 10
Price	Rs 18
Promoters	Soniya Singh
Business	Market research support services
Listings	Bse
BRLM	Pantomath Capital
Registrar	Big share

IPO ANALYSIS : MEDICO REMEDIES LTD - INVEST

Issue Details :

Issue opens  / closes on	29-01 /31-01-2018
Issue size	10,99,000 equity shares
Face value	Rs 10
Price	Rs 100
Promoters	Haresh Mehta
Business	Mfrs and exporters of formulations
Listings	Bse sme
BRLM	Aryaman Financial Services
Registrar	Cameo Corp Services