Friday, March 24, 2017

RBI puts 4 PSU banks under watch

RBI has put four public sector banks - IDBI Bank, UCO and Indian Overseas Bank, under watch and advised them to stay off risky assets so that their financial health is not stressed further. The fourth bank could be Kolkata or Chennai Headquartered bank.

QUOTE OF THE DAY



No matter how senior you get in an organization, no matter how well you're perceived to be doing, your job is never done.

Abigail Johnson

F&O Inclusion : Reliance Defence gains most


 CMP ( NSE)             Rs% chg
Name23/03/201622/03/2017LTP

Reliance Defence68.8058.7062.706.81
Suzlon Energy13.4518.3519.204.63
Capital First 421.70706.85728.353.04
InterGlobe Aviation898.50934.75960.952.80
Max Financial Services327.75560.00575.002.68
Equitas Holdings*110.00157.15160.652.23
Indian Bank 106.15257.65262.902.04
MuthootFinance 177.95347.10353.301.79
Infibeam Incorporation*432.001352.851368.501.16
Escorts139.80521.75527.201.04
Ujjivan Financial Services*210.00422.50426.500.95
PVR713.301416.751426.500.69
Dalmia Bharat802.401887.151899.000.63
Piramal Enterprises984.101858.651867.000.45
Shree Cements12497.9516349.8016290.00-0.37

Reliance Defense gained most, around 7 percent, after its inclusion in F&O. All stocks, except Shree Cements closed in the positive in yesterday's trade.

Yes Bank to raise $ 750 million through QIP

Yes Bank is raising capital through QIP. The bank is planning to raise a total of $750 million equivalent. The floor price, as per SEBI formula, has been fixed at Rs 1498.95 a share.

The offer will be lead managed by CLSA, Bank of America Merrill Lynch, IIFL, and Motilal Oswal.

Thursday, March 23, 2017

M S downgrades 3 major private sector banks

Morgan Stanley has downgraded 3 private sector banks- HDFC, Axis and ICICI.

For HDFC Bank, which has been downgraded from overweight to equalweight, Morgan Stanley believes that valuations are full and expects the stock to digest the high multiples in the near-term.  The stock is over-owned by foreign investors, and with better opportunities in Asia, we find it tough to expect the stock to outperform at current levels,the report adds.


In the case of Axis Bank, which has been downgraded from overweight to equal-weight, the analysts feel the stock is unlikely to do well in the next couple of quarters given the earnings pressure. While the stock remains the preferred pick among the large corporate lenders, Morgan Stanley slashed its earnings forecast by 28 per cent and 13 per cent for FY18 and FY19, respectively, in anticipation of higher credit costs, lower capital gains and lower net interest income.

While lowering the rating for ICICI Bank from equal-weight to underweight, the brokerage reduced its earnings forecast by seven per cent and five per cent for FY18 and FY19, respectively. A quick respite in asset quality appears unlikely for the bank as its credit costs may remain elevated. 

NSE introduces further 15 stocks to F&O

NSE has introduced further 15 stocks to F&O wef from 31-03-2017.

The Stocks are :  

1 Reliance Defence and Engineering Limited RDEL
 2 InterGlobe Aviation Limited INDIGO 
3 PVR Ltd PVR 
4 Capital First Limited CAPF
 5 Muthoot Finance Limited MUTHOOTFIN 
6 Dalmia Bharat Limited DALMIABHA 
7 Equitas Holdings Limited EQUITAS 
8 Infibeam Incorporation Limited INFIBEAM 
9 Ujjivan Financial Services Limited UJJIVAN 
10 Suzlon Energy Limited SUZLON 
11 Piramal Enterprises Limited PEL 
12 Escorts Limited ESCORTS 
13 Shree Cements Limited SHREECEM 
14 Max Financial Services Limited MFSL 
15 Indian Bank INDIANB

Avenue Supermarkets : Sell, Target Rs 400.

Avenue Supermarkets which has gained over 100%, on its IPO price, is unlikely to sustain at current level. The stock is quoting at 80 PE on its FY17 earnings and around 65 PE, FY 18 earnings, is very expensive.

High percentage of promoters holding is the reason why the stock is trading at irrational PE. It will find its level, in the near future and stock will settle down at Rs 400 level.

CNN : FBI evidence suggests Trump associates and Russians may have coordinated to sink Clinton

According to CNN, the FBI is still reviewing the info, which “includes human intelligence, travel, business and phone records and accounts of in-person meetings.” Some US officials warned CNN that it’s too early to draw any major conclusions from the information so far, because it’s largely circumstantial. Still, the officials reportedly told CNN that potential collusion between Trump associates and Russian officials is now a large focus of the FBI investigation.

Trump has been mired by allegations that his campaign worked with Russia to release damaging hacked emails from the Democratic Party and Hillary Clinton campaign. The evidence so far, though, hasn’t conclusively linked Trump or his associates to Russian interference in the election. 

Forthcoming IPO : HUDCO

HUDCO has  received SEBI's nod for its IPO. The offer will comprise sale of 200,190,000 equity shares –10 per cent stake — by the central government through an offer for sale  route.

 A discount of up to 5 per cent on the issue price would be given to retail investors.

Hindustan Zinc announces Rs 13985 cr dividend

Hindustan Zinc has announced a one-time interim dividend of Rs 13,985 crore for the financial year 2016-17.  The central government, which owns 29% stake will get Rs 11,259 crore. 

 In April 2016 and  in October 2016,  the company had declared interim dividend The dividends paid in FY17, totalling Rs 27,157 crore, are the highest ever paid in India in a financial year.

The Board of Directors has declared the special one-time interim dividend of 1375% i.e. Rs 27.50 on every equity share of Rs 2.

Tuesday, March 21, 2017

QUOTE OF THE DAY



When people start telling you that you're crazy, you just might be on to the most important innovation in your life.
Larry Ellison

C L Educate gets 37% subscription on day 1

C L Educate IPO has received 37% subscription on day 1, thanks to QIB investors.

Sunday, March 19, 2017

RBI to print Rs 10 plastic note

Government has accorded necessary approval to RBI to conduct field trials of plastic notes of Rs 10 that have a longer life span.

Approval for procurement of plastic substrate and printing of banknotes of Rs 10 denomination on plastic banknote substrates has been conveyed to the RBI.

Saturday, March 18, 2017

C L Educate allots shares to the anchor investors

C L Educate has allotted 14.28 lakh equity shares to anchor investors, including DSP Blackrock Micro Cap Fund, Sundaram Mutual Fund, Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd and ICICI Lombard General Insurance Company, at a price of Rs 502 a piece.


The IPO opens on 20-03-2017.

NVidia offers huge discounts to celebrate St. Patrick's Day.

NVIDIA is celebrating St. Patrick’s day by taking 50 and 60% off 8 different games on their store, including 3 different GEFORCE NOW games and 5 Android games. 

All GEFORCE NOW games come with a downloadable PC code as well, so one’ll always be able to play it on one's own desktop. 

Friday, March 17, 2017

QUOTE OF THE DAY



I wouldn't sweat too much what it is, where it is or what you're doing, as long as you're learning.

Melanie Whelan

IPO ANALYSIS : RELSTRUCT BUILDCON LIMITED - AVOID


ISSUE DETAILS:

Issue opens / closes on
20-03 /22-03-2017
Promoters
HEMENDRA H. MAPARA, MR. CHETAN H. MAPARA, MRS. DARSHANA MAPARA
Business
Construction

ISSUE SIZE
46,71,000 equity shares
FACE VALUE
Rs 10
PRICE Band
Rs
LISTINGS
Bse-sme
BRLMs
Monarch Networth Capital
REGISTRAR
Karvy

IPO ANALYSIS : Jash Dealmark Limited- Avoid



ISSUE DETAILS:

Issue opens / closes on
15-03/17-03-2017
Promoters
Shailendra Khona, Dipti Khona, Shailesh Khona and Devhari Exports (India) Ltd
Business
Import / export / trading

ISSUE SIZE
13,50, 000 equity shares
FACE VALUE
Rs 10
PRICE Band
Rs 40
LISTINGS
Bse sme
BRLMs
Gretex corp
REGISTRAR
Purva share Registry

Thursday, March 16, 2017

IPO ANALYSIS : Oceanic Foods Limited - Invest



ISSUE DETAILS:

Issue opens / closes on
17-03 /22-03-2017
Promoters
VINODRAI PATEL AND AJESH PATEL
Business
Manufacturing  and export of dehydrated food products.

ISSUE SIZE
10,00,000 equity shares
FACE VALUE
Rs 10
PRICE Band
Rs 65
LISTINGS
Bse-sme
BRLMs
Pantomath Capital
REGISTRAR
Link Intime

IPO ANALYSIS : MAXIMUS INTERNATIONAL LIMITED -AVOID






ISSUE DETAILS:

Issue opens / closes on
17-03 /22-03-2017
Promoters
Optimus Finance Limited
Business
Import / export of base oils,lubricants, chemicals

ISSUE SIZE
15,06,000 equity shares
FACE VALUE
Rs 10
PRICE Band
Rs 25
LISTINGS
Bse- sme
BRLMs
Aryaman Financial Services
REGISTRAR
BigShare

IPO ANALYSIS : MANAS PROPERTIES LIMITED - AVOID



ISSUE DETAILS:

Issue opens / closes on
17-03 /22-03-2017
Promoters
Mr. Vijay Thakkar and Dev Land & Housing Private Limited
Business
Real estate / leasing,consultancy

ISSUE SIZE
11,10,000 equity shares
FACE VALUE
Rs 10
PRICE Band
Rs 360
LISTINGS
Bse- sme
BRLMs
Aryaman Financial Services
REGISTRAR
BigShare

IPO ANALYSIS : PRIME CUSTOMER SERVICES LIMITED -AVOID




ISSUE DETAILS:

Issue opens / closes on
20-03 /23-03-2017
Promoters
Jinen Ghelani; Mr. Hiren Ghelani and NH Time Investments Research Pvt. Ltd
Business
Warehousing, cold storage,packing

ISSUE SIZE
12,14,000 equity shares
FACE VALUE
Rs 10
PRICE Band
Rs 60
LISTINGS
Bse- sme
BRLMs
Aryaman Financial Services
REGISTRAR
BigShare