Sunday, September 29, 2013

BLACKBERRY POSTS LOSS, TO CUT JOBS

Blackberry has reported a second quarter net loss of $965m following a slump in sales.

It will also be cutting 4,500 jobs in a bid to stem those losses.

FOREIGN EXCHANGE RESERVE JUMPS

India's foreign exchange  reserves jumped by $2.03 billion to $277.38 billion for the  week ended Sep 20. This is the biggest weekly gain in  two years.

Thursday, September 19, 2013

BLACKBERRY IS UP FOR SALE

Blackberry, which is unable to match its competitors in smart phone market is considering out right sale of the company. Initially it will reduce its work force by 40% by Dec 2013 and simultaneously is scouting for a suitor. In the recent years the company has lost market share to rivals like Apple Inc and Samsung Electronics Co .

Tuesday, September 17, 2013

SAMSUNG IS NUMBER ONE HAND SET MAKER IN INDIA

Samsung has overtaken Nokia as number one hand set maker in India. Samsung ended the year with revenues of Rs.11,328 crore in 2012-13 with 31.5% market share. On the other hand, Nokia, with 27.2% market share, dropped to the No 2 spot. The mobile handset market in India is estimated to have grown by 15% in 2012-13 to touch Rs.36000 crore, according to  Voice&Data Survey.

SEBI CLEARS ADVANCE ENZYME AND INTAS PHARMA IPOS

SEBI has given the final nod for the IPOs of Advance Enzyme and Intas pharma. The IPOs are likely to hit the market in the next quarter.

RELIANCE NETWORK PLANS DELISTING

Reliance Broadcast Network  board will consider delisting of equity shares of the company from stock exchanges in its meeting on 18-09-2013, as per the filings with the exchanges.

RAJAN EFFECT: RUPEE AT ONE MONTH HIGH

Rupee  closed at a one-month high of 62.83 against the dollar yesterday on hopes of further steps by the regulators to ease investment norms for overseas entities in government debt would attract more capital flows.

BARCLAYS FPO MAY BE DELAYED

Barclays further offer of shares may be delayed as Financial Conduct Authority has  warned Barclays Bank of a £50m fine for its 2008 investment deal with Qatari investors.

Barclays plans raise £5.95bn through the issue of new shares in the first week of October may be delayed in view of the latest development.

RANBAXY PLANT FAILS MANUFACTURING STANDARDS : U S REGULATOR

Ranbaxy Laboratories has been slapped restrictions on its new Mohali factory by the US drug regulator for not complying with manufacturing standards.
 
Ranbaxy shares plunged in excess of 30%  and closed at at Rs.318.85.

Last year the company had paid $500 million to resolve fraud allegations and charges that it sold drugs that did not conform to manufacturing regulations.

Tuesday, September 10, 2013

APPLE TO RELEASE TWO NEW SMART PHONES TODAY

The much discussed smartphones iPhone 5C, iPhone 5S from Apple will be officially launched today. 5S is high end phone where as 5C will be very competitively priced to attract the lower end smart phone customers. 

Sunday, September 8, 2013

NSE NEWS : SUSPENSION OF SECURITIES

NSE has suspended the equity trading of the following companies w.e.f. September 17, 2013 until further notice on the Capital Market Segment for non- compliance with certain provisions of the Listing Agreement.

·        Ashco Niulab Industries Limited
·        Crew B.O.S. Products Limited
·        Dhanus Technologies Limited
·        Koutons Retail India Limited
·        Polar Industries Limited
·        Spanco Limited
      ·        Taksheel Solutions Limited

Friday, September 6, 2013

BRICS FORM $ 100 BILLION CRA

Brics  countries have formed a $ 100 billion Contingency Reserve Arrangement to fight dollar appreciation against their respective currencies.

China, will contribute $41 billion, while India, Brazil and Russia will pay in $18 billion and South Africa $5 billion.

Tuesday, September 3, 2013

REGULATORS, PLEASE WAKE UP.

 We hereby reproduce an article that we wrote in Aug 2012, on Onelife Capital advisors.

 Friday, August 24, 2012


Price rigging, scam, manipulation, insider hand, broker-promoters collusion, fraud are all happening / brewing under the direct nose of the regulators. This is in respect of share price movement of Onelife Capital Advisors Ltd. (OCAL). The stock is up from Rs 114 a year ago to Rs 616. SEBI had barred the promoters of OCAL from participating in the market for diverting IPO funds for unspecified purposes. In a month, the share price of OCAL is up 27 per cent from a low of Rs 482. Look at the financials of the company. On equity of Rs 13.36cr, the company reported a loss of Rs 23 lacs for the June 2012 quarter. The company has no history of dividend or bonus.

ABOUT THE COMPANY:

OCAL is a SEBI registered Category I, Merchant Banker.
The company reported sales of Rs 1.56cr and net loss of Rs 1.99cr, on equity of Rs 13.36, for the year 2012. The EPS is negative.

One life capital came public a year ago at Rs 110. At the time of going public the company had indicated that they are in the process of securing license to do business in Equity Broking (BSE) and Portfolio Management Services from SEBI. The company’s latest website does not indicate anything about it.

At the time of IPO, the employee strength was eleven. It had no branches as on the IPO date.

The company started its operations in FY2010; Income from operations consists principally of income from investment banking and related services, which includes fee-based income from merchant banking, corporate advisory (including research services), debt syndication services and professional fees. In FY10, the company earned a total income of Rs.61.7 lakh comprising professional fees and consultancy charges.

The share price appears to be manipulated; otherwise there is no reason why a loss making, financial advisory company should trade in excess of  1000PE. Highest PE for any shares any where in the world.

SEBI BARS ONE LIFE CAPITAL PROMOTERS

SEBI has barred the promoters of Onelife Capital advisors for fraud committed in its own IPO. Among others SEBI has directed Onelife Capital Advisors Ltd  and its Managing Director Mr.Pandoo P. Naig shall, jointly and severally, bring Rs35.25 crores, the amount diverted from IPO proceeds into other companies within six months from the date of the order.

The Board of Directors of OCAL shall ensure compliance of above direction and submit amonthly progress report in the above regard to SEBI. Further the Board of Directors shall also furnish to SEBI a Compliance Report duly certified by a SEBI registered Merchant Banker within two weeks of compliance of the above direction.


Onelife Capital Advisors Ltd and its managing director Mr.Pandoo P. Naig  shall be remain restrained and prohibited from accessing the securities market and also prohibited from buying, selling and otherwise dealing in securities market, directly or indirectly, in whatsoever manner, for a period of 3 years from the date of the interim order.

TCS'S MARKET CAP AT ALL TIME HIGH

TCS' market cap touched Rs 4 lakh crore, thus becoming the second company in Indian markets after Reliance Industries to cross this milestone. RIL had crossed this mile stone in Oct 2007.

At present, TCS is the only company with a market value of over Rs 4 lakh crore, where as  Reliance Industries market cap stands at Rs 2.85 crore. RIL closed at Rs 884 yesterday in the exchanges.



Saturday, August 31, 2013

GDP SLIPS AGAIN

India's GDP for the first quarter of the current fiscal (2013-14) grew at 4.4%, compared with 4.8 per cent during the preceding quarter (January-March) of the last fiscal.

Friday, August 30, 2013

COAL INDIA SLIPS BELOW IPO PRICE

Coal India which came IPO at Rs 245, 3 years ago has slipped below the IPO price for the first time. In today's trade it touched 52 week low of Rs 238. Government is planning further five percent disinvestment in the company, for which the BRLMs have been selected. 

IPO ANALYSIS : REC TAX FREE BONDS - INVEST




ISSUE OPENS  / CLOSES ON
30-08 / 23-09-2013
BOND PRICE
RS 1000, TAX FREE
SECURITY TYPE
TAX FREE SECURED NON CONVERTIBLE BONDS
RATE OF INTEREST
8.12% TO 8.62% P.A.
PERIOD
10/15/20 YEARS
ISSUE SIZE
RS 1000 CRORE,PLUS OPTION TO RETAIN ANOTHER RS 2500 CRORE
PROMOTERS
GOVT OF INDIA
BRLM
AK CAPITAL. AXIS CAPITAL, EDELWEISS, ICICI SECURITIES
REGISTRAR
KARVY
GRADING
AAA BY CRISIL, CARE, ICRA AND IRRPL

Thursday, August 29, 2013

NSEL DECLARES 10 MEMBERS AS DEFAULTERS

National Spot Exchange (NSEL)  has declared 10 of its members as defaulters. These include Namdhari Food International, Namdhari Rice and General Mills, Mohan India, Swastik Overseas Corporation, White Water and Juggernaut Projects.

Wednesday, August 28, 2013

IPO ANALYSIS: TIGER LOGISTICS (INDIA) LIMITED


 


ISSUE OPENS  / CLOSES ON

27-08 / 29-08

IPO PRICE (FIXED)

 

RS 66

ISSUE SIZE

11, 40, 000 EQUITY SHARES

PROMOTERS

H S MALOHTRA, BENU MALOHTRA

BRLM

SARATHI CAPITAL ADVISORS

REGISTRAR

BIG SHARE

LISTING

BSE SME

MICROSOFT TO RELEASE WINDOW 8.1 VERSION TO CONSUMERS ON OCT 18

Microsoft has released the latest version of its operating system, Windows 8.1, to computer makers, moving a step closer to the final release of the software. For consumers, Windows 8.1 is scheduled for an October 18 release.

Thursday, August 22, 2013

RE / MAX HOLDINGS PLANS IPO

Specialist real estate company Re/Max Holdings has plans to raise up to $100 million through an initial public offerings.

The company is looking to take advantage of the recovery in the U.S. housing market.

Denver, Colorado-based Re/Max operates through a network of agents and franchises and had about 92,000 agents in 95 countries as of July 31, 2013.

BANKING STOCKS WILL BOUNCE BACK SHORTLY

Banking stocks particularly private sector banking stocks are likely to bounce back in in the next 2-3 trading days.

Wednesday, August 21, 2013

INDIAN IPOs IN OVERSEAS MARKETS?

The government is considering allowing unlisted companies to initial launch public offers (IPO) in overseas markets and raise funds in foreign currency. The proposal to allow unlisted companies to list on overseas stock exchanges through Initial Public Offering is being considered, says finance ministry sources.

NSE EXCLUDES CHAMBAL, OPTO, GSPL,PUJLLOYD AND RENUKA SUGARS FROM F&O

NSE, w e f  Nov 1, 2013 has excluded Chambal Fertilizers & Chemicals Limited, GSPL Opto Circuits (India) Limited, Punj Lloyd Limited, Shree Renuka Sugars Limited from F&O.


PHARMA, TECH, CEMENT AND INFRA STOCKS DROWN EARLY GAINS

Pharma, Tech, Cement and Infra stocks have drowned the early gain made by indices due to surge of banking stocks. RBI measures have not helped the rupee to stabilize. Rupee has again slipped to Rs 64 level against Dollar giving fresh headache to the policy makers. Ranbaxy has lost (8%), Dr Reddy's(4), Sunpharma (3), ACC (4), JP Associates (6), Sesa Goa (8). Infy, ITC and Tata Motors have lost 2 percent each. Sensex was up 300 and NIFTY 95 points in the early trade. Now both are in red and are down 270 and 75 points respectively.

RIL SLIPS BELOW RS 800

RIL has lost 3 percent and trading below Rs 800.

GITANJALI GEMS NET NOSE DIVES

Gitanjali Gems has reported a net profit of Rs 5.94 crore for June quarter as against Rs 77 crore reported in the same quarter last year. This gives an EPS of 65 paise per share. The stock is up 5%  and locked at Rs 80.90.

RBI MEASURES, DIIs BUYING TO KEEP INDICES IN GREEN

RBI in the late evening has announced some measures to help the commercial banks, which are struggling  to cope up with the falling rupee. The central bank  will conduct an open market operation  to purchase government bonds of Rs 8,000 crore from the market on August 23, 2013.

The RBI  has also allowed banks to hold Statutory Liquidity Ratio bonds in Held to Maturity (HTM) category at 24.5 percent of their respective total deposits or net demand and time liabilities (NDTL). RBI has plan to bring it down to 23 percent from 25 percent in a progressive manner in a prescribed time frame.
Banks are now allowed to transfer Statutory Liquidity Ratio (SLR) bonds to HTM category from Available for Sale (AFS) or Held for Trading (HFT) categories up to the limit of 24.5 percent as one-time measure.

Banks can spread over the net depreciation, if any, on account of MTM valuation of securities held under AFS/HFT categories over the remaining period of the current financial year (April 01 July 14) in equal installments,  according to RBI. These measures will help the banks to breathe easy for the time being. Bank stocks are expected to stage a smart rally. Yesterday DIIs have net bought substantially in cash market. This along with the short covering will help the indices to stay in green today.

NSEL DEFAULTS, SACKS CEO

National Spot Exchange has failed to settle its promised first payment of Rs 175 crore to investors. It could pay only Rs Rs 92.12 crore crore payment as against Rs 175 crore it had committed to the sector regulator FMC. In the meanwhile it has sacked its CEO and some executives.

Tuesday, August 20, 2013

NEGATIVISM OVER DONE, BUY AT CMP

Markets always over reacts, on good as well as bad news. Negativism on the rupee fall has been over done. Dollar is likely to stabilize around Rs 60 in the near term. Government is likely to take concrete steps to contain CAD and arrest further fall of rupee against dollar.  Sensex is down 290 and NIFTY 95 points today. Stay invested at CMP, in front line stocks.

Monday, August 19, 2013

MORNING TRADE : ONLY 8 STOCKS IS IN GREEN

NIFTY has lost more than 75 points in the early trade. Only 8 stocks are in positive territory. They are - Lupin, TCS, GAIL, HCL Tech, INFY,Cairn,Tata Power and Ranbaxy. SBI, PNB, Asian Paints, BHEL and ICICI bank stocks have hit new 52 week low in today's trade.

CANARA BANK'S MARKET CAP BELOW RS 10000 CRORE

Canara Bank has lost more than Rs 300 since Jan 2013. Today it touched a new 52 week low of Rs 213. Its market cap as of now is less than Rs 10000 crore. 

Saturday, August 17, 2013

LOOT MAAR IPOs OF 2011

Out of the 26 loot maar IPOs, we had recommended for investments only for two IPOs - Acropetal and Muthoot Finance. For the rest, we said no.  It is for the readers / investors to judge our recommendations against the actual performance of the stock in the exchanges.



ISSUER COMPANY
IPO PRICE
RS
CMP
RS
OUR RECOMMENDATIONS
MID VALLEY
70
7
AVOID
SUDAR GARMENTS
77
7
AVOID
ACROPETAL
90
5
INVEST
PTC INDIA FINANCIALS
28
11
AVOID
SHILIPI CABLE
69
14
AVOID
MUTHOOT
175
95
INVEST
PARMOUNT
35
 1
AVOID
INNOVENTIVE
117
22
AVOID
SERVALXMI
29
2
AVOID
VASWANI
49
4
AVOID
SANGHVI
85
14
AVOID
AANJENEYA
234
37
AVOID
VMS IND
40
21
AVOID
TIMBOR HOME
63
11
AVOID
RUSHIL DÉCOR
72
32
AVOID
BIRLA PACIFIC
10
1
AVOID
READY MADE STEEL
108
69
AVOID
BHARITIYA GLOBAL
82
5
AVOID
INVENTURE GROWTH
117
6
AVOID
BROOKS LAB
100
14
AVOID
SRS LIMITED
58
28
AVOID
PG ELECTROPLAST
210
87
AVOID
PRAKASH CONSTRO
138
1
AVOID
RDB RASAYN
79
10
AVOID
M AND B SWITCH
186
16
AVOID
INDO THAI SECURITIES
74
9
AVOID