Morning Business News Round Up_March 20, 2018

Sebi exempts govt from open offers for six PSBs

Manufacturing cos Q3 sales up, profit subdued: RBI

Videocon to exit insurance biz, sell entire stake

No FDI in defence, ports, coal in Apr-Dec: Govt

Bring model scheme for construction workers: SC

DoT increases spectrum cap, installments for payments

‘No new bank guarantee from Axis Bank to be accepted’

UltraTech to pay Rs 73 bn for 98% stake in Binani Cement, NCLT nod awaited

India has not signed any free trade agreement in last 3 yrs: Govt

RP places Rs 67-bn plan by Dalmia Bharat Cement for approval before NCLT

Manufacturing companies’ sales improve in Q3, profit subdued: RBI

IOCL to commission Rs 30 bn polypropylene facility in six months

UltraTech to buy Binani Cement, seeks end to insolvency proceedings

New FSSAI norms will curb organic farming growth?

L&T set to win EPC contract for new dry dock in Kochi

Centre invites EoI for stake sale in Scooters India

IRB Infra bags road project worth Rs 2,043 cr from NHAI in Gujarat

Suzlon bags 500 MW wind energy projects through SECI bids

Insider info: Sebi moves to plug WhatsApp leaks

Future Retail gets RBI nod to increase RFPI to 49%

Uttam Galva offers 51% of outstanding loan to avoid asset auction

Hindustan Aeronautics IPO subscribed 45% on Day 2

Supreme Court upholds sale of Park Hyatt Goa to ITC

RCom moves SC against Bombay HC, NCLT orders barring sale of assets

India, Hong Kong shake hands to avoid double taxation

India’s domestic air passenger traffic on the rise, up 24% in February

Bhel commissions Ist unit of Kishanganga hydro project in Jammu and Kashmir

Alibaba to invest extra $2 billion in Lazada Group in aggressive Southeast Asian expansion

Bandhan Bank IPO subscribed 14.63 times

ED moves HC against acquittal of Raja, Kanimozhi in 2G case

Lemon Tree Hotels sets price band at Rs 54-Rs 56

CBI charge sheet against ex-CMD of Canara Bank CMD in Rs 68 cr loan case

Suzlon to build TWO wind projects in Gujarat

Morning Business News Round Up_March 19, 2018

DP World and NIIF to buy Continental Warehousing

Madras HC gives relief to Vodafone in Trai tariff case

RCom moves Supreme Court for asset sale relief

Demonetised notes are being shredded, briquetted: RBI

‘Counterfeit market in India worth over Rs 40,000 cr’

PNB drags Hunung Toys to bankruptcy courts

Power producers’ body blames RBI of NPA overreach

NBCC enters road construction; gets Rs 20-bn contract in Uttarakhand

Image result for GAILIOC, BPCL may buy 26% stake each in GAIL at more than Rs 400 billion

WTO ministerial meet in Delhi: 50 nations to take up global trade issues

FPIs pour Rs 64 bn in equities on easing oil prices, earnings expectations

Anti-dumping duty imposed on Ofloxacin imports from China

Steel prices may firm up by 6-10%, bridge the discount

Nitol-Niloy Group invites Tata Motors to set up unit in Bangladesh

Danfoss aims to grow by 20-22% for next 3-5 years’

CCI nod for Brenntag-Raj Petro deal

Trai to revamp mobile number portability process

Only 16% of initial GST returns filed for July-Dec match with final figures

UltraTech Cement challenges Binani Cement sale to Dalmia Bharat

Abu Dhabi signs $1.45 billion offshore deal with French oil giant Total

India cannot retaliate in global trade war:Assocham

PwC suggests timebound dispute resolution under GST

Tax assessment of RIL: CAG raps I-T department for lack of due diligence

High GST threatening aluminium recycling units: Industry

No takers for Rs 11,300 cr lying in 64 bank vaults

Govt decision has jute industry in quandary

PNB fraud has created a pall of uncertainty over PSB stocks

Morning Business News Round Up_March 16, 2018

Govt for PSBs’ stability first, consolidation later

Jio adjusted gross revenue up 21.3% at Rs 5,300 cr

India to engage with US on export subsidies

Trai issues notice to Airtel for violating order

‘India offers Rs 1L-cr biz in bio-fuel, bio-energy’

Feb trade deficit at $12 billion, exports grow 4.5%

Govt plans to bar 91 defaulters from leaving India

GIC Re to start London operations next month

Merger with associate banks led to higher account closure this year: SBI

Govt not to extend March 31 deadline for selling pre-GST packaged goods

LS passes bill to enable govt to double tax-free gratuity to Rs 2 mn

TN govt to focus on aerospace, defence sectors to get Rs 100 bn investment

ICICI Securities Rs 40-bn IPO to open on March 22; price band at Rs 519-520

India to approach USTR against steel, aluminium tariffs

Image result for Suzlon indiaSuzlon commissions 340 MW solar projects

M.P. begins wheat purchase atRs.2,000/quintal

Rosy Blue Group has not defaulted on any bank loan: Mehta

Calderys India Refractories eyeing 25% capacity expansion

Goa mining industry stares at uncertainty

GST one of the most complex, and second highest tax rate in world: World Bank

Air India made Rs543.03 cr from asset monetisation: Govt

Infosys to open technology and innovation hub in Connecticut, US

Fortis Healthcare suitors look to buy shares from public, banks

Air India sale: Singapore Airlines has open mind on making a bid

Shipping ministry for bringing MTOs under self-regulation

PF: PPF accounts to remain immune from attachment

CREDAI seeks cut in GST; bank financing to buy land for low-cost home

CBI arrests RP Info System directors in Rs 515 cr bank fraud

PSBs to link SWIFT with Core Banking Solution by April 30

Currency derivative trade limit raised to $100m from $15m

CBEC field offices observe GST refund fortnight for exporters

More 4G spectrum for BSNL, revival plan for MTNL: Sinha

Trade deficit narrows to $12 billion in Feb

Banks to establish robust risk management system soon

Morning Business News Round Up_March 15, 2018

Morning Business News :

  • World Bank projects India’s FY19 GDP growth at 7.3%
  • SBI may challenge order against taking over assets
  • Currency in circulation back to pre-demonetisation level
  • LTCG relief for investors of unlisted cos as govt extends indexation benefit
  • Indian realty sector market to reach $180 billion
  • Saudi turns to nuclear power to curb oil addiction
  • Decoding Videocon’s move on Philips, Electrolux
  • PNB fraud: RBI guv Urjit Patel blames regulatory constraints for scam
  • WB to raise lending to India by $1 bn for next five years
  • Strides Shasun gets US FDA approval for HIV treatment drug Efavirenz
  • Torrent may raise Rs 15 bn via QIP as it readies to bid for Sanofi assets
  • Revise GST, impose anti-dumping duty to boost textile sector: Parl panel
  • Bandhan Bank aims to keep gross NPA below 1%

Image result for Bandhan Bank

  • Cabinet approves India, Iran double taxation pact
  • Wholesale price inflation eases to 2.48% in Feb
  • Ban on LoUs to have disruptive impact: India Inc
  • Suzlon installs India’s largest wind turbine generator
  • Calderys India Refractories eyeing 25% capacity expansion
  • L&T wins contracts worth₹1,600 crore
  • BoI hits pay dirt on recoveries, helps lift sentiment for public sector peers
  • Yes Bank acquires 17.31% stake in Fortis Healthcare
  • Bharat Dynamics IPO sees 46% subscription on Day 2
  • UltraTech Cement hikes bid for Binani Cement to $1 billion
  • PNB fraud: ED seeks Interpol warrant against Nirav Modi, Mehul Choksi
  • Sensex, Nifty end in red as blue-chip shares plunge, PSU banks rise up to 14%; OMCs tumble
  • Bharti Airtel approves allotment of debentures to raise Rs 3,000 cr
  • 67% Indian businesses hit by ransomware, 38% twice: Sophos
  • Aviation ministry eyes 5-fold rise in passenger trips to 1 bn in 15-20 years: Jayant Sinha
  • Clean-up act: Banks may give PNB short-term loans
  • Wipro to divest hosted data centre services biz to Ensono for $405m
  • RBI Guv calls for more powers to regulate state-owned lenders

Morning Business News Round Up_March 14, 2018

Morning Business News :

  • RBI scraps LoUs, the tool that set off India’s biggest banking scam
  • Raghuram Rajan defends 80:20 gold scheme
  • Tata Sons sells shares worth nearly Rs 9,000 cr in TCS
  • Bhushan Steel’s insolvency resolution put on hold
  • SBI closes 41L SB accounts for not keeping min balance
  • Nirav case: Total fraud amount rises to Rs 13,600 cr
  • Showcause notices issued to telcos on call drops: TRAI
  • SC extends deadline for linking Aadhaar to phones, bank accounts

Image result for SC extends deadline for linking Aadhaar to phones, bank accounts

  • States issued Rs 283.98 bn as GST compensation till Dec: Arun Jaitley
  • PNB discloses Rs 9.42 bn additional exposure in Nirav Modi, Choksi fraud
  • Govt to sell 10% stake in HAL through Rs 42.30 billion IPO
  • BPCL to participate in insolvency process for Nagarjuna Oil corp
  • Banks agree to govt terms for Rs 800-billion recapitalisation bonds
  • MCX set to launch world’s first brass futures contract
  • Near-term correction likely in NCDEX refined soya oil
  • July-Dec 2017 saw surge in MSMEs seeking credit for first time
  • Suzlon installs India’s largest wind turbine generator
  • Zydus Cadila gets USFDA nod for Tizanidine tablets
  • HDFC to pare over 4% stake in AMC arm through IPO
  • Gail India buys 2 LNG cargoes for April delivery-traders
  • HDFC Bank blocks all its cards to buy, trade cryptocurrencies
  • RCom says to appeal NCLT order against Reliance Infratel asset sale
  • Bharat Dynamics IPO sees 32% subscription on Day 1
  • Over 9,000 cases under consideration of NCLT, including over 2500 cases of insolvency, says government
  • India to become collateral damage in Trump’s trade war on steel, aluminium
  • IBC: Government says no reduction in resolution plan submissions post Ordinance
  • China accounts for 66 pct of India’s bulk drug imports in FY’17
  • Karnataka allots 43 acres to Wistron for Apple’s iPhone unit
  • SBI retains minimum balance limit, but cuts penalty charges by 75%
  • Eicher ends Polaris JV, Multix dumped
  • Suzlon to set up 36 wind units for Maharashtra utility
  • Small cars have higher insurance loss ratio than SUVs

Morning Business News Round Up_March 12, 2018

Morning Business News :

  • US, China keen to join International Solar Alliance
  • Jet Airways, Air France, others to bid for Air India
  • Disney’s ‘Black Panther’ reaches $1 billion globally
  • India should drag US in WTO over tariff hike: Experts
  • Govt to get around Rs 8,044 cr dividend from Coal India
  • SBI tightens noose around borrowers in jewellery sector
  • PFC’s power projects with 14,000 Mw capacity to go down insolvency alley
  • SBI, UCO Bank looking for buyers to clear off Rs 12.45-billion NPAs
  • PM Modi calls for concessional, less-risky financing for solar projects
  • ‘Powerful’ UP govt is top defaulter with Rs 100-bn power dues
  • Need $1 trn to achieve 1 TW solar power capacity by 2030: Emmanuel Macron
  • Govt to invest Rs 50 bn in Food Corporation of India in 2 years: Parl panel
  • India on its way recovering from demonetisation disruptions: IMF
  • GST Council meet: E-way bill from April, easier returns delayed

Image result for GST

  • India can stand tall in a trade war: Anand Mahindra
  • NTPC to acquire Kanti, Nabinagar JV plants for Rs 3,000 cr
  • As Chinese imports decline, domestic refractory makers eye larger market
  • Women make up just 22% of S&P 500 boards: Report
  • Neuberg Diagnostics to invest ₹300 cr for expansion
  • Manufacturing outlook positive for January-March quarter: Ficci
  • EON to acquire RWE’s Innogy, upending German energy industry
  • India, China key engines of global economic growth: IMF’s Tao Zhang
  • CCI clears RCom’s plans to sell infra assets to Reliance Jio
  • India, China important engines of regional and global economic growth: IMF
  • European Union says no ‘immediate’ clarity from US on trade tariffs
  • Coca-Cola plans to localise two-third of its products portfolio in India
  • High production to keep prices under pressure
  • Rural, infra spaces may see momentum in next few quarters
  • Oil, fund flows, GST glitches key risks in 2018: Crisil
  • Inefficiencies in logistics cost India $95 billion
  • PMO calls officials’ meet on exporters’ GST refunds

Morning Business News Round Up_March 9, 2018

Morning Business News :

  • Indian economy will have V-shaped recovery: Garg
  • PNB may be given 1 year to provision against fraud
  • India Inc has Rs 2L cr cash trapped in balance sheets
  • Government eases norms for e-way bill generation
  • NCLT ​accepts Aircel’s bankruptcy petition
  • Adani, Essar, Jaypee power plants in stressed list
  • Japan to recruit 2 lakh Indian IT professionals
  • Corp resolution: L&T moves NCLT against Bhushan Steel
  • India set to achieve 20 GW solar energy capacities this fiscal itself: Govt
  • Direct tax collection rises 19.5% in the April-Feb period to Rs 7.44 trn
  • Adani rethinks Abbot Point options as debt refinancing stalls in Australia
  • Airbus signs contracts with two Indian startups

Image result for • Airbus signs contracts with two Indian startups

  • Railways aim to save Rs 100 billion a year with reverse auction bidding
  • Airtel-Telenor merger approved by NCLT; Airtel to get ops in 7 circles
  • UAE free trade zone woos Indian companies
  • Choksi blames investigative agencies for flouting law
  • BASF SE in talks to acquire Bayer’s vegetable seed biz
  • Without US, 11 Asia-Pacific states to sign trade deal
  • Apollo Tyres opens an all-women rubber sheet making unit
  • KEC International wins Rs 1,378-cr job orders
  • Bitcoin under pressure as US, Japan revive regulation concern
  • Japan eyes India to fill manpower gap in its information technology sector
  • Azim Premji quietly gives away more to charity
  • Sugar mills hit as excess output trips supply balance
  • Corruption common in public sector banks but trust intact, says survey
  • Parliamentary panel, SBI flag concern over stressed power companies
  • Equity MF inflows intact despite sharp market fall
  • Positive momentum in sales adds more teeth to auto sector
  • ED confident of Nirav’s deportation to India
  • L&T Infotech to help America’s vintage churches from decaying

Morning Business News Round Up_March 8, 2018

India, Mauritius to hold trade talks next month

Mallya’s abandoned yacht seized over unpaid wages

Tata steel identified as highest bidder for Bhushan Steel

US trade deficit jumps to more than nine-year high

RBI slaps Rs 40L penalty on SBI for flouting norms

Related imageNissan in talks to buy France’s Renault stake

CCI fines Jet, Indigo, SpiceJet for doing unfair biz

India pitching for sovereign rating upgrade to Fitch: FinMin official

Government cancels Jaypee Cement’s coal block in Madhya Pradesh’s Mandla

Railways incurs Rs 40-bn loss in 3 years by running Mumbai locals: Govt

Sebi ‘defers’ implementation of the loan default disclosure framework

ETF assets surge four-fold in 2 years on steady inflow from EPFO

Sebi’s P-note derivative ban fails to dent Indian futures market volumes

RCom appeals in Bombay HC to protect lenders’ interest

Economy bottomed out, on the rise again: Niti Aayog

Govt package to breathe new life into telecom companies

Sugar output for 2017-18 seen at record 29.5 mt: ISMA

BARC India ties up with Airtel Digital TV to use RPD for viewership

India ranks 52 in Mastercard women entrepreneurs index

Liberty House highest bidder for Amtek Auto acquisition

GST Council may delay e-way bills, levy GST on raw alcohol

PE investments fall 60% in February with no mega deals

India Post Payments Bank to launch 650 branches by April: Manoj Sinha

Pepperfry raises Rs250 crore from State Street Global Advisors

GST filing: Simpler module may be finalised on March 10, says official

Women in India earn 20 percent less than men, says Monster report

International Labour Organisation projects unemployment rate at 3.5% in 2018: Government

SBI puts up Simbhaoli Sugars, 14 other NPA accounts for sale

Sebi reconstitutes panel on corporate bond market

Bharat Dynamics IPO from March 13

PSU banks face Rs 20K cr losses on bonds in Q4

Ongoing SME IPO_ Inflame Appliances Limited


Issue Details

Issue opens 6th March 2018
Issue Closes 8th March 2018
Issue Price 54
Lot Size 2000
Issue Size 6.48 Cr
Lead Manager Swastika Investmart Limited
Registrar Skyline Financial Services Private Limited
Platform BSE

Promoters of the Company

  1. Mr. Aditya Kaushik ( Chairman & Managing Director)
  2. Mr. Dinesh Kaushik ( Whole Time Director)
  3. Mr. Amit Kaushik ( CEO & Chief Financial Officer)

Overview of Business

Company is engaged in manufacturing of LPG Gas Stove/cooktops and Sheet Metal Components. Inflame Appliances Limited is an IS 4246:2002 certified company and engaged in manufacturing of LPG Gas Stove/ Cooktops in various range like Gas Stove in Sheet Metal, Gas Stove with Toughed Glass (Optional Auto Ignition) with range of 4 Burners/ 3 Burners/ 2 Burners and Sheet Metal Components for captive consumption in the state of Himachal Pradesh.

The company has also been part of PRIME MINISTER UJJWALA YOJANA (PMUY) launched by the Central Govt. of India for providing 5 Crore new gas connection to the people below poverty line in the country. This PMUY has created a huge demand for LPG gas stoves which helped the company to achieve higher growth.

Object of the Issue

(Rs. in Lakhs)
Sr. No. Particulars Amount
1 Capital Expenditure for Business Expansion 300.00
2 Working Capital 250.00
3 General Corporate Expenses 28.00
4 Issue Expenses 70.00
Total 648.00

Financial Performance

Particulars Jan-18 2016-17 2015-16
Total Revenue 2542.44 1806.13 391.56
PBT 104.79 61.19 8.4
Total Assets 1069.32 576.31 170.01

Financial Indicators

EPS : 3.43 ( for period ended Jan 20, 2018)

P/E : 27.43 ( Restated 2016-17)

RoNW : 25.22% ( for period ended Jan 20, 2018)

NAV/share : 13.59

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Morning Business News Round Up_March 7, 2018

Govt to consult ONGC, OIL before auctioning fields

Nirav Modi’s firm moves HC against ED case.

Banks to collect passport details of bigwigs in 45 days

Image result for E-way billE-way bill must for goods movement from June 1

Bhushan Power resolution plan by month-end, says IRP

Commercial coal mining can cut import bill by Rs 30K cr

Commerce Min to devise strategy on product standards

States’ debt woes to bloat India’s budget gap: Oxford Economics

Government banks wrote off Rs 816.83 billion loans in FY17: Arun Jaitley

PNB fraud: SFIO to quiz ICICI’s Chanda Kochhar, Axis Bank’s Shikha Sharma

Tata Sons proposes to buy entire stake of Tata Trusts in Indian Hotels

Moody’s upgrades JSW Steel’s corporate family rating to Ba2 from Ba3

Indian economy to recover gradually to 7.1% in FY2019

Finance Ministry to coax Fitch for rating upgrade

FinMin keeping close tabs on outgo, receipts

BG-II cottonseed prices set to drop this season

TVS Logistics moves into construction sector

NFRA to have power to impose penalty on erring audit firms

PNB fraud likely to swell beyond $2 billion mark

Karti Chidambaram gets three more days CBI custody in INX Media case

Withdraw defamation notice and apologize, COAI tells Reliance Jio

Airtel acquires India leg of GBI submarine cable

RBI increases FPI limit in UltraTech Cement to 40%

India to topple China yet again as fastest growing economy, and this time for 5 years

Input-Output model reveals real picture of economic growth

PNB has potential to raise capital, says Arun Jaitley

ONGC Videsh signs pact with Iran?s IDRO Oil to jointly bid for $1 bn contract for developing Susangerd oilfield

Regulatory reforms can help create 10 million jobs

Bandhan Bank gets Sebi nod for Rs 2,500-cr IPO

GST, price hike slow solar commissioning

New product to replace SGX-Nifty likely by May

RBI may give Rs 10,000 cr as interim dividend