Thursday, June 22, 2017

RERA : Govt clears air on advertisements

The government has clarified that no ongoing or future projects can be advertised without registering them first with the RERA.

 The Real Estate (Regulation and Development) Act was passed last year to regulate the sector, eliminate fly-by-night operators and protect buyers’ interest. 

The Act came into force from May this year. Realtors’ apex body had submitted a representation to Ministry of Housing and Urban Poverty Alleviation seeking clarity on advertisement and sale of the ongoing projects amid conflicting reports and interpretation on the issue. “Section 3 (1) of the Act prohibits advertisements for all projects (ongoing/future) without registration with the real estate regulator.

Wednesday, June 21, 2017

IPO ANALYSIS : Bansal Multiplex Limited - Avoid



Issue opens / closes on
30-06 /04-07-2017
Issue size
20,00,000 equity shares
Face Value
Rs 10
Price band
Rs 31
Promoters
Anupkumar Bansal, Suman Bansal
Business
Trading - Fabrics, chemicals
Registrar
BigShare
Listings
Nse, Emerge
BRLM
Pantomath Capital

IPO ANALYSIS : Puspanjali Realms and Infratech Limited - Avoid



Issue opens / closes on
27-06 /30-06-2017
Issue size
26,46,000 equity shares
Face Value
Rs 10
Price band
Rs 55
Promoters
Deepak Mittal, Rajpal Mittal
Business
Construction / infra
Registrar
BigShare
Listings
Nse emerge
BRLM
Sarthi Capital

Institutional selling pulls indices down

Fiis and Diis both have net sold in today's cash market, as result benchmark indices closed in red. Nifty lost 20 and Sensex 14 points. Fiis sold for Rs 153 cr and Diis for 43 cr.

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EESL to list shares

 Energy Efficiency Services Limited is planning  an IPO and to raise around Rs 200 cr from the primary markets.  The IPO may happen befor this fiscal.

About EESL:

EESL is a joint venture of NTPC, Power Finance Corporation, Rural Electrification Corporation and Power Grid.

 Energy Efficiency Services Limited has been set up under Ministry of Power  to facilitate implementation of energy efficiency projects.

Sebi eases norms for take over of stressed assets

 Sebi has relaxed takeover norms for acquisition of stressed assets to help the banks to tackle bad loans.

 Sebi Chairman Ajay Tyagi says that the regulator has decided to ease norms for acquisition of distressed assets of listed companies.

Banks deposit grows at 11%, credit at 6%

For the fortnight ended June 9, the bank deposit grew by 11% to 105.77 lac cr, whereas credit grew by 6% to 76.58 lac cr.

Karnataka too waives crop loans

Karnataka govt has waived crop loans upto Rs 50,000. This will cost the exchequer Rs 8165 cr. This will benefit over 22 lacs farmer who have borrowed from cooperative banks.

Recently state like UP, Maharashtra, Punjab too waived loans of farmers due to bad consecutive bad monsoon. 

Videocon Industries continues to slide

Videocon Industries has touched 52 week low of Rs 19.25 (FV Rs10) in today's trade. This is the 11th consecutive day that the stock has hit the lower circuit.

The company's market value stands at Rs 637 cr.

The BV of the stock is more than Rs 200.

Heavy debt on the books, pledge of shares by promoters, slipping market share, eroding margin, unwarranted diversification into oil&gas, Telecom and competition are the reasons for the stock losing shine, which was once the darling of the investors.

The company has debt around Rs 45000 cr on its books.

MSCI inclusion of A group Chinese shares may take away some shine from Indian bourses

Morgan Stanley Capital International, popularly known as MSCI, has decided to include A group shares of China in its emerging market index as well as in MSCI ACWI Index. India could see passive fund outflows in excess of one billion US dollars. 

 China is the second-largest stock market in the world, which has been plagued by poor foreign participation,  due o the latest development global investors likely to up their stake here in select well managed companies.


MSCI EM Index will be adding 222 China A large-cap stocks, representing 0.73 percent weightage in the index.

HUL, 6th most valued company

HUL( Rs 1124) touched 52 week high of Rs 1129 in today's trade. The stock with the market cap of Rs 2.43 lac cr is the 6th most valued company on the Indian bourses.

HUL has appreciated 28% in last one year and 10% in last 30 days.

RIL is in striking distance to replace TCS as most valued company

RIL which is up for the fourth consecutive day has touched a market cap of Rs 4.62 lac cr, as against TCS's Rs 4.74lac cr.

RIL ended the day at Rs 1422, up Rs 10 whereas TCS closed at Rs 2406, down Rs 39.

CDSL IPO gets overwhelming response, subscribed nearly 170 times

CDSL IPO which closed for subscription today has received tremendus response. The IPO has oversubscribed by nearly 170 times. This is the highest oversubscription in recent times.

NSE shifts 17 stocks to T group

Nse has shifted the following stocks to trade for trade segment wef 22-06-2017.

Sr. No. Name of the security
1 BLB Limited
2 Delta Magnets Limited
3 Emkay Global Financial Services Limited
4 Eon Electric Limited
5 Euro Multivision Limited
6 GSS Infotech Limited
7 GOL Offshore Limited
8 Indowind Energy Limited
9 Keynote Corporate Services Limited
10 Paramount Communications Limited
11 Pioneer Distilleries Limited
12 Shree Rama Multi-Tech Limited
13 Sreeleathers Limited
14 SRS Limited
15 Tijaria Polypipes Limited
16 T T Limited
17 Usher Agro Limited

International Supercomputing Conference : Nvidia to release latest version of GPU Accelerator

 NVIDIA has announced and detailed a PCI Express version of their latest Tesla GPU accelerator, the Volta-based V100, in ISC which is being held from 19th June to 22nd.  NVIDIA is set to outline its next-generation efforts in HPC and deep learning with Volta.

With Volta discussed and described at their GPU Technology Conference in mid-May, NVIDIA upped the ante in terms of both features and reticle size: V100 is 815mm2 of custom TSMC 12FFN silicon, chock full of tensor cores and unified L1 cache per SM, along with many more fundamental – and as of yet not fully revealed – microarchitectural changes.


Eris Life IPO gets 3.29 times subscription

Eris Lifesciences IPO which closed for subscription yesterday has received 3.29 times subscription. Non Institutional and employee segment did not get full subscription. Retail and QIB portion has been subscribed almost by 4 times the shares reserved for the category.

IPO ANALYSIS : Accord Synergy LImited - Avoid




Issue opens / closes on
22-06 /28-06-2017
Issue size
9,72,000 equity shares
Face Value
Rs 10
Price band
Rs 60
Promoters
B S Khan
Business
Support services to Telecom sector / Networking
Registrar
Link Intime
Listings
Nse -sme
BRLM
Hem Securities

IPO ANALYSIS : A U Small Finance Bank - Invest



Issue opens / closes on
28-06 /30-06/2017
Issue size
5.34 cr equity shares
Face Value
Rs 10
Price band
Rs 355-358
Promoters
Sanjay Agarwal,Jyoti Agarwal / others
Business
NBFC / Small Finance Bank
Registrar
Link Intime
Listings
NSE, BSE
BRLM
ICICI Sec, Motilal, Citigroup,HDFC Bank
Await Detailed analysis.

Forthcoming IPO : Indian Energy Exchange LImited




Issue opens / closes on
29-06 /03-07/2017
Issue size
60,65,009 equity shares
Face Value
Rs 10
Price band
--
Promoters
Professionally managed
Business
Exchange for trading of electricity products
Registrar
Karvy
Listings
NSE, BSE
BRLM
Axis Capital, Kotak Mahindra Capital, IIFL HOldings

IPO ANALYSIS : Gautam Exim limited



Issue opens / closes on
29-06 /03-07/2017
Issue size
8,31,000 equity shares
Face Value
Rs 10
Price band
Rs 40
Promoters
Balasubramanian Raman
Business
Import of raw materials required by paper industry
Registrar
BigShare
Listings
Bse sme
BRLM
Pantomath Capital

Monday, June 19, 2017

Cairn comes under tax hammer

Income Tax Department has ordered coercive action against Cairn Energy Plc to recover Rs 10,247 crore of retrospective tax after the firm lost a challenge to the move before an international arbitration panel.

The department ordered taking away Rs 700 cr  dividend due to it from its remaining stake in the erstwhile subsidiary Cairn India, now called Vedanta and another Rs 1,500 crore of tax refund due to it.

No departure card for flying abroad from 01-07-2017

Indians flying abroad will not be required to fill departure cards from next month.  The Govt has been decided to discontinue the practice of filling up of the departure card by Indians at all international airports with effect from July 1, 2017. 

 The move is aimed at ensuring hassle-free movement of Indians going abroad. At present, those going abroad need to fill in details such as name, date of birth, passport number, address in India, flight number and date of boarding in the departure card.

The passengers information are available in the system from other sources.

CDSL IPO subscribed 2 times on day 1

CDSL IPO has been subscribed by 2.05 times on day 1.

Nvidia to invest in Canadian start up

Chip-maker NVIDIA has made the investment for a Canadian artificial intelligence (AI) startup "Element AI". 

Friday, June 16, 2017

RBI releases stressed asset list, Essar Steel included

  Reserve Bank of India has released the first list of six stressed accounts that they must resolve via the Insolvency and Bankruptcy Code. The bankers added that the central bank had asked them to refer the cases to the National Company Law Tribunal within a fortnight. 

The companies, with a combined debt of Rs 1.6 lakh crore, include Essar Steel, Bhushan Steel, Bhushan Power & Steel, Monnet Ispat, Alok Industries and Electrosteel Steels.

Thursday, June 15, 2017

Tejas Networks IPO gets 38% subscription

Tejas Networks IPO has received 38% subscription on day 2. The IPO closes tomorrow.

Wednesday, June 14, 2017

Forthcoming IPO : AU Small Finance Bank

AU Small Finance Bank's IPO is expected to open in the last week of this month.

AU started as a NBFC and has been engaged in business of commercial and personal vehicle loans, Micro, Small and Medium Enterprise loans and SME loans serving primarily low and middle income group.

IPO ANALYSIS : GTPL Hathway LImited - Avoid




Issue opens / closes on
21-06 /23-06-2017
Issue size
Rs 240 cr
Face Value
Rs 10
Price band
Rs 167-170
Promoters
Anirudhsinhji Jadeja
Business
MSO- cable television,broadband services
Registrar
LinkIntime
Listings
Bse, Nse
BRLM
JM Financials, Motilal, BNP Paribas, Yes Securities
Await detailed analysis.