Friday, April 26, 2019

Tata Steel profit plunges

Image result for tatasteel



Tata Steel's net profit plunged by 84 per cent in the March quarter to Rs 2,295 crore against Rs 14,688 crore logged in the same period last year due to higher operational and finance costs.

Sales were up 24 per cent at Rs 41,186 crore.

The company has announced a dividend of Rs 13 a share on fully paid equity share and Rs 3.25 a share on partly paid equity share. 

The stock closed at Rs 511, in yesterday's trading.

Thursday, April 25, 2019

Neogen Chemicals IPO gets 27% subscription on day 1

Neogen Chemicals IPO has received 27% subscription on day 1. The IPO closes tomorrow.

FirstChoice IPO has avoid call on the offer.

Vodafone rights issue fully subscribed

Vodafone Idea’s Rs 25,000-crore rights offering has garnered full subscription according to sources. 

Wednesday was the last day to apply for the rights offering, which had opened for subscription on April 10. In terms of amount mobilized, the Vodafone Idea rights offering will be among the biggest equity offerings in the Indian markets. 

The rights issue has been priced at Rs 12.5 per share, a discount of 27 per cent over current price of  Vodafone stock. 

Wednesday, April 24, 2019

Softbank to invest in Jio

Japan's Softbank is reportedly looking to make a USD 3 billion investment in India's fastest-growing telecom firm Reliance Jio.

This comes on the back of reports of Saudi giant Aramco in discussions to buy a 25 per cent stake in Reliance Industries' refining and petrochemical business for USD 10 billion. 


Tuesday, April 23, 2019

IPO ANALYSIS : Neogen Chemicals Limited - 'No speciality in the offer' - Avoid

Image result for neogen chemicals


Issue Details :



Issue opens /
closes on


24-04 /26-04-2019
Issue size
Equity Shares comprising of
fresh issue of up to Rs. 700
Million and
OFS of up to 29,00,000
Equity shares.
Face value
Rs 10
Price Band
Rs 212-215
Business
Manufacturers of bromine-
based
and lithium-based,
specialty chemicals.
Promoters
HARIDAS THAKARSHI
KANANI AND
HARIN HARIDAS KANANI
Listing
Bse, Nse
BRLM
Inga Advisors and
Batlivala & Karani Securities
India Private Limited
Registrar
Link Intime


Business :


Company is in to manufacture of specialty organic bromine-based   and other specialty organic chemical compounds and specialty inorganic lithium-based chemicals compounds.
Specialty organic chemical compounds find use in application industries such as pharmaceutical, agrochemical, flavor and fragrance and electronic-chemical.


Lithium Compounds manufactured are used in eco-friendly Vapor Absorption Machines  for cooling air/water/process equipment and find application in industries such as heating ventilation and air-conditioning and refrigeration, construction chemicals, pharmaceutical and specialty polymer.


The company markets their Products in India and as well export  to Europe, USA and Japan.


Objects of the Fresh Issue:


1. Prepayment or repayment of loans.
2. Early redemption of debentures.
3. Long term working capital.
4. General corporate purposes.


Financials : (Rs in crores except EPS)



31-12-2018
(9 months)
31-03-2018
31-03-2017
Revenues
160
165
122
Net profit
12.22
10.49
7.68
Capital
20.10
20
20
Other Equity
41
30
22
EPS
6.09
5.25
3.84


 Risks:
  1. Suit filed by Neogen Corp against the company for using the mark ‘Neogen’.
  2. Promoter and member of promoter group are selling Shares in the Offer.
  3. Debt heavy enterprise.
  4. Company has in the past made erroneous filings with the Registrar of Companies.


Recommendations:


The offer is made around 30 PE on its FY 19 financials, which is is on the higher side. The company is un professionally managed.


Avoid the IPO.







Friday, April 12, 2019

Forbes World's Best Bank Survey : HDFC Bank emerged as India's number 1 bank

Image result for hdfc bank


HDFC Bank has been identified as number 1 bank by customers in India, as per Forbes World's Best Bank survey. In the first edition of this survey, Forbes partnered with market research firm Statista to measure the best banks in 23 countries. 

HDFC Bank emerged as India’s No 1 bank. It was a unique survey as it did not measure financial performance, ignoring balance sheets and P&L statements in favour of customer opinion. 

Apart from HDFC Bank, it was another private-owned lender ICICI Bank which took the second spot in Forbes list for India. At third rank was DBS, followed by Kotak Mahindra Bank and IDFC Bank taking fourth and fifth spot. 

SBI is at 11th position and Canara Bank at the bottom, 30th.

Friday, April 5, 2019

IPO ANALYSIS : POLYCAB INDIA LIMITED


Issue Details :


Issue opens /
closes on


05-04 /09-04-2019
Issue size
Rs 400 Cr plus OFS of 1.75 Cr
equity shares
Face value
Rs 10
Price Band
Rs 533-538
Business
Mfrs of cables and wires
Promoters
INDER T. JAISINGHANI,
AJAY T. JAISINGHANI,
RAMESH T. JAISINGHANI
AND GIRDHARI T. JAISINGHANI
Listing
Bse, Nse
BRLM
Kotak Mahindra, Axis Capital,
Citigroup Global Markets India,
Edelweiss Financial Services, IIFL
Holdings, YES Securities
Registrar
Karvy
Await detailed analysis.