Wednesday, July 14, 2021

IPO ANALYSIS : ZOMATO LIMITED - INVEST


Issue Details :


Issue opens / closes on

14-07-21 / 16-07-21

Issue size

Rs 9375 Cr

Face value

Rs 1

Price Band

Rs 72-76

Business

Tech based Food / grocery delivery aggregator

Promoters

Professionally managed

Listing

Bse, Nse

BRLM

Kotak Mahindra, Morgan Stanley and others

Registrar

Link India 

Friday, July 24, 2020

RBI to probe HDFC Bank Auto loan rigging

RBI has asked HDFC Bank to provide details of an internal investigation into allegations of improper lending practices in its vehicle-financing operation, according to people familiar with the matter.

The Reserve Bank of India is also seeking information on steps taken by HDFC Bank to remedy any issues identified during the investigation.

Wednesday, July 8, 2020

IPO ANALYSIS : ROSSARI BIOTECH LIMITED



Issue Details :

Issue opens / closes on
13-07/15-07-2020
Issue size
Fresh issue Rs 50 Cr plus
 OFS of 1.05 cr shares
Face value
Rs 2
Price Band
Rs 423-425
Business
Speciality chemical manufacturers
Promoters
Edward Walter Menezes, Sunil Srinivasan Chari
Listing
Bse, Nse
BRLM
Axis Capital and ICICI Securities
Registrar
Link Intime

Await detailed analysis.

Wednesday, July 1, 2020

Vodafone's loss widens

Vodafone Idea's pre-tax loss rose 73 per cent to Rs 11,742 crore in the March quarter of 2019-20 owing to exceptional expenses.
The telecom firm had posted a pre-tax loss of Rs 6,758 crore in the same quarter last year.
While the firm’s revenue remained flat on a year-on-year basis, the loss widened due to Rs 6,140 crore worth of exceptional items, which included costs related to merger and integration, additional provisioning for depreciation and impairment, and one-time spectrum charges.

Tuesday, June 30, 2020

China’s manufacturing activity expands

  • China’s manufacturing activity expanded in June with the official Purchasing Manager’s Index coming in at 50.9.

Sunday, May 10, 2020

ICICI Bank reports excellent numbers

 ICICI Bank has reported 26 per cent jump in net profit in the fourth quarter of the fiscal 2019-20 at Rs1,221 crore as against Rs 969 crore a year ago.

The bank’s total income grew by 12 per cent to Rs 23,443 crore in the quarter ended March 30, 2020 from Rs 20,914 crore a year ago. The net interest income grew by 17 per cent to Rs 8,927 crore in the fourth quarter, from Rs 7,620 crore a year ago.

The net interest margin is the highest ever at 3.87 per cent in the fourth quarter.

Tuesday, May 5, 2020

Forthcoming IPO : Stove Kraft Limited


IPO-bound Stovekraft looks to expand international presence ...


Stove Kraft Ltd, manufacturer of kitchen appliances is planning to lists its shares on the exchanges. The company has received markets Sebi's clearance in this regard.

The company is engaged in the manufacture and retail of a wide and diverse suite of kitchen solutions under Pigeon and Gilma brands.

The IPO is being lead managed by Edelweiss Financial Services and JM Financial.

The public offer comprises a fresh issue of equity shares aggregating up to Rs 145 crore and an offer for sale of up to 71,63,721 equity shares, according to the draft red herring prospectus.

Friday, May 1, 2020

HUL posts muted numbers


HUL: HUL is the most valuable FMCG co. Here are five reasons why ...

FMCG major Hindustan Unilever has posted a 3.56 per cent year-on-year  decline in its consolidated net profit at Rs 1,515 crore for the quarter ended March 2020. 

The company had posted profit of Rs 1,571 crore in the year-ago period. On a standalone basis, profit came in at Rs 1,519 crore, down 1.23 per cent against Rs 1,538 crore in the corresponding quarter of the previous fiscal.

Revenue from operations  stood at Rs 9,055 crore, down nearly 10 per cent against Rs 10,018 crore in the year-ago quarter. 

The company has recommended a final dividend of Rs 14 for the financial year ended March 31, 2020 on equity shares of Re 1 each.

HUL closed at Rs 2205, down one percent in Thursday's trade. 


RIL announces rights offer.

RIL  has announced the much-awaited details of its rights issue, which is the India’s largest. The company is planning to raise Rs 53,125 crore by issuing one equity share for every 15 shares held by eligible shareholders as on the record date, which will be announced later.

This would mean an equity dilution of 6.7 per cent at the proposed issue price of Rs 1,257 per share (including a premium of Rs 1,247 per share). 

The rights offer price is at a 14 per cent discount to RI L's closing price of Rs 1,467, on Thursday.

RIL posts unimpressive numbers

RIL Q4: Healthy growth in Jio and retail, talks with Aramco on ...


Reliance Industries has reported a 33.5 per cent decline in its consolidated profit before tax at Rs 9,223 crore for the quarter ended March 2020 due to pressure in its petrochemicals business, higher expenses and exceptional items.

Net profit, after exceptional items was 38.7 per cent lower at Rs 6,348 crore from Rs 10,362 crore in the quarter ending March 2019. The company incurred a one-time loss of Rs 4,245 due to the Covid-19 pandemic induced lock down and inventory losses because of fluctuations in the global oil prices.

RIL's refining and petrochemical businesses, which was hurt by the corona-virus, declined 18.2 percent sequentially  to Rs 84,854 crore and fell 12.7 percent QoQ to Rs 32,206 crore, respectively.

The stock closed at Rs 1464, up 2.64 percent in Thursday's trade.

Banks lend helping hands to NBFCs

Amid liquidity crisis, Banks in India have started lending to Non-Banking Finance Companies, the highest since 2008, as the shadow lending industry bulked up before the financial year closure, which probably is also making banks lend more to them or provide moratorium on payments.

Total loans grew 4 percent in the same period at Rs. 3.57 lakh crores, data from RBI shows. While NBFC accounted 32 percent of the total, industry loans also grew, including MSMEs at 37 percent. 

Moody's slash India's growth rate

Moody’s Investors Service has slashed India growth forecast for calendar year 2020 to 0.2 per cent, from 2.5 per cent projected in March. For 2021, the rating agency expects India’s growth to rebound to 6.2 per cent.

The rating agency had cut its projections from 5.2 per cent to 2.5 per cent after Prime Minister Narendra Modi announced a nationwide lock down on March 24.


Tuesday, April 21, 2020

ICICI Bank's exposure to Ocean Tankers is likely to turn bad

ICICI Bank has issued notices to impound two vessels operated by Ocean Tankers, a unit of the troubled Singapore oil-trading company Hin Leong Trading.

ICICI Bank, which has about $100 million exposure to HLT, has issued writs against the vessels Wu Yi San and Chang Bai San.

According to S&P Global Platts, a provider of energy and commodities information, Hin Leong Trading's founder Lim Oon Kuin has been blamed for financial mismanagement and reselling of inventory that was used as banking collateral, causing losses running into billions of dollars, in a court filing by his son Lim Chee Meng. Hin Leong has suffered $800 million in unaccounted derivatives losses .

Saturday, April 18, 2020

Top blogs of Bangalore

Top 100 Bangalore Blogs, Podcasts and Youtubers in 2019. FirstChoiceIPO is at 50th spot. Know more in http://stillbuddy.com

Brickwork : Moratorium provisions to hurt banks profitability

Brickwork Rating estimates that 10 per cent provisioning on loans granted moratorium could hit profitability by up to Rs 72,000 cr.

The Reserve Bank of India stipulation that banks maintain higher provision of 10 per cent over the two quarters of March and June 2020 on loans that have been granted a three-month moratorium could drill a huge hole, ranging from Rs 36,000 crore to Rs 72,000 crore, in their profitability, Brickwork Ratings has cautioned.

Neighboring nations FDI : govt tightens norms

In a major change in its foreign direct investment (FDI) policy, India has brought in stricter measures to curb the 'opportunistic takeover' of Indian companies due to the current Covid-19 pandemic by firms in neighbouring countries, including China.

According to the Press Note 3 issued by the Department for Promotion of Industry and Internal Trade, the government has said that an entity of a country which shares a land border with India can invest only after receiving government approval.

Recently China's Central Bank has purchased one percent stake in housing major HDFC through open market operations.

NBFCs seek additional liquidity

Non-bank lenders have sought additional liquidity support of Rs 2 lakh crore through a special central bank mechanism after April cash-flows were choked.

The support has been sought either through the TLTRO mechanism, the proceeds of which banks must use to buy bonds of corporate or non-bank lenders or some kind of refinancing window. 

HDFC Bank posts 18% increase in net, provisions doubles

Internship at HDFC Bank enhanced my sales and marketing skills ...

HDFC Bank has reported 18 per cent year-on-year rise in net profit at Rs 6,928 crore, for the March quarter. 

Net interest income for the quarter climbed to Rs 15,204 crore from Rs 13,089 crore, driven by 21 per cent growth in advances and a 24 per cent growth in deposits.

 The bank's provisions and contingencies stood at Rs 3,785 crore in March quarter compared with Rs 1,899 crore in the same quarter last year.



Thursday, April 16, 2020

Goldman Sachs buys Indusind Bank shares

IndusInd Bank trashes market rumours even as shares hit 6-year low ...

Goldman Sachs Singapore has picked up shares worth over Rs 176 crore in IndusInd Bank, through an open market transaction, on Wednesday.

According to the bulk deal data on the exchanges, Goldman Sachs bought 14 lakh shares, at an average price of Rs 430.3 apiece.

Recently IndusInd Bank's promoters had indicated that they will hike their stake in the private sector lender by buying extra shares from the market.

The promoters of the bank —IndusInd International Holdings and IndusInd — plan to acquire additional shares from open market in India.

The stock closed at Rs 426 in yesterday's trade. NSE had a volume of 2.83 Cr shares with 31 percent delivery.

The stock is likely to spurt in today's trade.