Month: September 2017

Morning Business News Round Up_Sep 19,2017

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Morning Business News :

  • FDI likely to rise further after GST: Moody’s
  • Adhia-led panel to meet tomorrow on exporters’ issues
  • NCLT orders StayZilla into insolvent liquidation case
  • India to be no. one in power generation, consumption’
  • Sebi allows REITs, InvITs to raise funds through bonds
  • Big 4 accounting firms on IBA’s list of forensic auditors
  • Mahindra joins hand with Ford for electric vehicles
  • Trai bats for homemade telecom equipment
  • US govt notifies cut in anti-dumping duty on Indian shrimps
  • PE/VC investments, exits at record high of $5.4 bn in Aug 2017: EY
  • IBM, Reliance arm, KPIT to jointly offer IoT solutions across verticals
  • Competition Commission admits petitions against NIIT Limited
  • Govt panel deciding valuation for ONGC’s HPCL acquisition: M K Surana
  • OVL gets extension till 2049 for Azeri-Chirag-Deepwater project
  • Maharashtra set to be $1-trillion economy, says Fadnavis
  • HPCL to add 5 mt petchem capacity over 5 years
  • Tata Motors bets big on experiential marketing
  • SEBI updates board on action against suspected shell firms
  • US oil prices hit $50 on rising refinery demand, falling rig count
  • ICICI Lombard IPO subscribed 98% on Day 2

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  • Mytrah Group raises Rs1,800 crore from Piramal Group
  • Mahindra Lifespace to get $50 million investment from IFC
  • Three directors step down from Hotel Leelaventure board
  • 9th anniversary of Lehman Brothers bankruptcy and Indian banking
  • Lupin names Jim Loerop as chief corporate development officer
  • PM Narendra Modi to meet FM, officials to review economic situation today
  • India open to 100 per cent FDI in defence with full tech transfer, says Indian defence official
  • Rs 300,000 cr road sector loans saved from turning NPAs: Nitin Gadkari
  • High input tax credit claims hit GST revenues
  • 10,000 UK finance jobs affected in Brexit’s first wave
  • Gadkari wants to take NHAI public, awaiting FinMin nod
  • Mergers boost finance sector consolidation
  • Infosys’ Sikka man and senior VP Rajagopalan quits

Morning Business News Round Up_Sep 18,2017

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Morning Business News :

  • Government to sell Air India properties owned by them
  • HPCL plans Rs 61,000 crore investment in 5 years
  • CAD seen at 1.2-1.3 per cent of GDP in FY18: Icra
  • Tata Motors plans to breathe fresh life into its PV portfolio
  • Just two bidders for Rs 37k cr Aamby Valley auction
  • Gold imports jump three-fold to $15 bn in April-Aug
  • SES urges Bharti shareholders to reject Telenor deal
  • Fosun Pharma to buy 74% stake in Gland for $1.09 billion
  • Drug makers dial foreign regulators on quality issues
  • Sebi board to take stock of suspected shell cos on Monday
  • Tata Motors eyes larger share of utility market with SUV Nexon
  • GSTN reopens composition scheme window for small businesses
  • Members want preferential treatment in NSE’s Rs 10Kcr IPO
  • Banks to gain as steel sector shows signs of growth
  • India likely to be 3rd largest economy by 2028: HSBC
  • RBI may keep policy rate on hold till FY18-end

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  • Monnet Ispat: IRP calls for expression of interest
  • CVC to probe govt employees deposits post demonetisation
  • FPIs pull out Rs. 3,000 cr from stocks in September so far
  • India-Japan ties set on high growth trajectory
  • SBI reviewing minimum balance charges for savings accounts
  • Govt may raise over Rs15,000 crore from share sale of 2 PSU insurers
  • TVS Motor to roll out electric two-wheelers soon
  • External debt of India drops 2.7 pct to $471.9 bn, records first such drop in 5 years
  • Government asks state-owned banks to discuss ways to merge at board level
  • Bankruptcy board to register 100 more insolvency professionals to add to 940
  • Indian start-up Kheyti wins prestigious award in Israel
  • Mergers boost finance sector consolidation
  • GIC Re IPO next month, over 14% stake dilution can fetch up to Rs 11k cr
  • Govt to monitor iron ore output
  • Centre eyes record rabi crop output

Weekly Markets Sentiment_16.09.2017

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Markets rose for the week ending 16.09.2017. Global rally lifted stocks and Nifty ended firmly above 10k at 10085. It was up 1.5% for the week. Sentiment all across the globe was that of relief. Although, the routine Friday came up with usual news of North Korea activity. This put some brakes on bulls as they were trying to get past the all time highs. Markets sentiment is soured by the recent act of North Korea but such things seems to have a new normal status.

Technically speaking Nifty is past 10k which was its major intermediate hurdle. This in turn will be the level to defend. This week, 10k will provide a certain amount of support on the way down. On its way up Nifty will face supply in the 10100-150 region. It did briefly hit 10131 and receded back below 10100. This is a major supply zone and will be interesting to see it markets blast past this. In all likely hood there can be a very slow and uncertain breakout. Almost a forced move beyond all time highs. The near term support is locked at 9800, while 10k looks good for this week. The more Nifty stays above 10k, call writers will be on their toes.

Fundamentally, nothing has changed, nothing will. Post the 400 point correction, Nifty has smartly and slowly climbed up a wall of worry. Multiples are still way beyond normal. P/E nearing 26-27 range. This is in the historical high range. Still due to lack of negative triggers and ample amount of domestic flows, markets continue to frustrate people who are sitting on cash. FIIs have been net sellers to the tune of 3000-3500 cr. After almost a month of relentless selling Friday they bought 400 cr. A noteworthy number. DII’s continue to force-feed the markets. They pumped in 3500 cr+ in the same week. SIP flows, MFs selling continues to attract retail to equities. People want to make merry while it lasts!

Globally, DOW recorded its highest ever close. It now is firmly above 22k. Apple’s launch was muted. People say Jobs invents, Cook improves! Stock reacted as if nothing new had happened. Markets world over look flushed with liquidity. Korea holds the key. It is almost as if markets expect Korea to do some testing on Friday. A surprise jolt could trigger something catastrophic, albeit the probability is low.

Sector watch – Metals cooled off slightly. Still they look somewhat overheated but the strongest index in all. Nifty metals should try to test 3750. Bottom fishing in pharma continues, the sector looks interesting with a lot of sentiment changing. Nifty Pharma can test 9900 this week.

Forthcoming IPO_ICICI Lombard General Insurance Company Ltd

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ICICI Lombard General Insurance Company Ltd IPO Detail

 

Issue Detail:

Issue Open Date

 Sept 15th , 2017 Price Band : Rs 651 – Rs 661  
Issue Open Date Sept 19th , 2017 Minimum Bid Qty :

22

  


Objects Of The Issue :

The objects of the Offer are:

  1. To achieve the benefits of listing the Equity Shares of the Company on the Stock Exchanges;
    2. To carry out the sale of up to 86,247,187 Equity Shares by the Selling Shareholders; and
    3. Enhance the “ICICI Lombard” brand name and provide liquidity to the existing shareholders.

Business Description :

Incorporated in 2000, ICICI Lombard General Insurance Company Ltd founded as a joint venture with ICICI Bank Limited, is engaged in providing various general insurance products and services in India. They mainly offers fire, engineering, hull, aviation, motor, casualty, health, travel, energy, personal accident, marine, liability, home, rural, and credit insurance products and services.

They also provides reinsurance, insurance claims management, and investment management services. They were the largest private sector non life insurer in India based on gross direct premium income in fiscal 2017. They offer comprehensive and well diversified range of products including motor, health, crop/weather ,fire ,personal accident, marine, engineering and liability insurance through multiple distribution channels.

They provide services to conglomerates, small and medium enterprises, state and central governments or government-owned enterprises, rural customers, and individual customers through various channels, such as agents, brokers, bank assurance, telesales, direct alliances and online platforms.

Competitive Strengths

  1. Consistent market leadership and demonstrated growth
    2. Diverse product line with multi – channel distribution network
    3. Robust risk selection and management framework
    4. Focus on investments in technology and innovation

Company Promoters:

The Promoter of the Company is ICICI Bank

Company Financials:

Particulars

31-Mar-17

 31-Mar-16 31-Mar-15 31-Mar-14

31-Mar-13

Total Assets

 48,885.8 35,445.0 32,414.2 25,070.8

20,290.5

Total Revenue

 9,836.5 7,242.2 7,424.4 5,563.1

4,162.1
Profit After Tax 6,418.2 5,053.4 5,853.2 5,200.7

3,527.8

 

Company Contact Information :

ICICI Lombard General Insurance Company Ltd
ICICI Lombard House,
14, Veer Savarkar Marg, Near Siddhivinayak Temp.
Prabhadevi, Mumbai 400 025
Phone: +(91 22) 6196 1100
Fax: +(91 22) 6196 1323
Email: investors@icicilombard.com
Website: https://www.icicilombard.com

IPO Registrar :

Karvy Computershare Private Limited
Karvy House, 46, Avenue 4, Street No. 1,
Banjara Hills, Hyderabad – 500 034
Andhra Pradesh, India

Phone: +91-40-23312454
Fax: +91-40-23311968
Email: einward.ris@karvy.com
Website: http://karisma.karvy.com

IPO Lead Manager(s) :

  1. Edelweiss Capital Limited
  2. JM Financial Consultants Private Limited

UPCOMING SME IPO : DP WIRES LIMITED

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SME IPO: DP Wires Limited

Issue Details

Issue opens 21th September 2017
Issue Closes 27th September 2017
Issue Price 75
Lot Size 1600
Issue Size 26.88 Crore
Lead Manager Sarthi Capital Advisors Pvt. Ltd.
Registrar Big Share Services Pvt. Ltd.
Platform NSE

Promoters Group:

  1. Mr. Praveen Kataria
  2. Mr. Hemant Kataria
  3. Mrs. Asha Devi Kataria

Object of the Issue

(Rs. in Lakhs)
Sr. No. Particulars Amount
1 Working Capital Requirements 2078.00
2 General Corporate Purpose 550
3 Issue Expenses 60
Total 2688.00

Business Description

The group was started in 1970 and production of steel wires by 1971. The group is engaged in manufacturing and supply of steel wires , Plastic pipes and plastic films which find its application in industries like oil & gas, power, environment, steel, energy etc. all of them located in a single premise at industrial estate, Ratlam.

It is also engaged in power generation through 2 wind farms of 0.8 MW each in village of Madhi and Jodhpur in District Jamnagar. Their Plastic products have been used in lining of canals , landfills, Highways and Road Construction, ponds, tanks etc

Company Financials

(Rs. in Lakhs)
Particulars 2016-17 2015-16 2014-15 2013-14 2012-13
Total Revenue 19683.21 16005.7 13913.28 9361.6 9782.58
Total Asset 8135.94 6847.91 5026.72 3072.83 4498.78
PAT 499.79 218.57 167.37 124.55 144.27

 

Financial Ratios

EPS: 5.03

PE Ratio : 14.91

NAV after issue: 40.33

Weighted RONW: 13.23

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UPCOMING SME IPO : R M DRIP AND SPRINKLERS SYSTEMS LIMITED

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SME IPO: R M Drip & Sprinklers Systems Limited

Issue Details

Issue opens 19th September 2017
Issue Closes 26th September 2017
Issue Price 53-57
Lot Size 2000
Issue Size 11.46 Crore
Lead Manager Pantomath Capital Advisors Pvt. Ltd.
Registrar Big Share Services Pvt. Ltd.
Platform NSE

Promoters Group

  1. Vijaykumar Kshirsagar
  2. Nivrutti Kedar
  3. Arjun Makani
  4. Shubhangi Kshirsagar
  5. Surekha Kedar
  6. Lilaben Makani

Objects of the Issue

(Rs. in Lakhs)
Sr. No. Particulars Amount
1 Working Capital Requirements 750.00
2 General Corporate Purpose 396
Total 1146.00

Business Description

The Company is ISI certified engaged in manufacture and sale  of Micro Irrigation System(MIS) consisting of Drip Irrigation System and Sprinkler irrigation system, its components irrigation accessories and allied products. They operate under the project market model in the states of Maharashtra, Gujarat, Karnataka and Madhya Pradesh.  Their product ranges include wide variety of Products HDPE Pipes , Pipes Fitting and Irrigation Equipment including Drip Irrigation System etc. As a part of project market sales they undertake supply , installation and provision of agronomical sales to farmers.

Company Financials

(Rs. in Lakhs)
Particulars 2016-17 2015-16 2014-15 2013-14 2012-13
Total Revenue 2872.57 1176.29 539.82 308.45 255.63
Total Asset 2373.23 1029.87 519.36 228.12 224.16
PAT 136.08 32.3 24.1 2.7 7.92

Financial Ratios

EPS: 4.13

PE Ratio : 12.8 – 13.8

RONW: 35.38

NAV : 16.16

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Upcoming SME IPO : Worth Peripherals Limited

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SME IPO: Worth Peripherals Limited

Issue Details

Issue opens 15th September 2017
Issue Closes 19th September 2017
Issue Price 40-43
Lot Size 3000
Issue Size 18.27 Crore
Lead Manager Pantometh Capital Advisors Pvt. Ltd.
Registrar Big Share Services Pvt. Ltd.
Platform NSE

Promoters of the Company

  1. Mr. Raminder Singh Chadda
  2. Ms. Amarveer Kaur Chadda

Object of the Issue: 

(Rs. in Lakhs)
Sr. No. Particulars Amount
1 Working Capital Requirements 610.42
2 Purchase of plant & Machinery 475.00
3 Repayment of Borrowing 300.00
4 General Corporate Purpose 441.58
Total 1827.00

Business Description

The company is engaged in the manufacturing of Corrugated Boxes having registered office situated at Indore, Madhya Pradesh. The company is adhere to Sedex Members Ethical Trade Audit( SMETA) best practice guidance guidelines which include adhering to labour standards, health standards and  safety ethics audit norms for SEDEX.

The company is well equipped with in house testing laboratories to test the products. It has fully automated plant managed through Programmable Logic Controller.

Company Financials

(Rs. in Lakhs)
Particulars 2016-17 2015-16 2014-15 2013-14 2012-13
Total Revenue 13214.73 12740 10778.41 8423.23 5935.17
Total Asset 8124.79 8571.2 6154.24 5449.23 4477.35
PAT 731.65 646.62 601.63 515.04 345.76

Companies Contact Information

Worth Peripherals Limited

102, Sanskriti Apartment, 44 Saket Nagar

Indore 452018

Email: investors@worthindia.com

Financial Ratios

EPS: 5.93

P/E Ratio :  6.75 – 7.25

Weighted RONW : 19.19%

NAV per Equity Share  : 35.36

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Upcoming SME IPO : Sri Krishna Metcom Limited

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SME IPO : Sri Krishna Metcom Limited

Issue Details

Issue opens 14th September 2017
Issue Closes 18th September 2017
Issue Price 55
Lot Size 2000
Issue Size 19.25 Crore
Lead Manager Microsec Capital Limited
Registrar Link Intime India Private Limited
Platform NSE

Gross Offer of 19.25 Crore include Offer for Sale of 15.95 Crore . The company will not receive any proceeds of the offer for sale by the Selling Shareholders.

Promoters Group:

  1.  Mr. Sudhir Prasad Sahu
  2. Mr. Yogesh Kumar Sahu
  3. Mr. Gyan Prakash Sahu
  4.  Sudhir Prasad Sahu (HUF)

Object of Net Issue

(Rs. in Lakhs)
Sr. No. Particulars Amount
1 Working Capital 319.75
2 Issue Expenses 10.25
Total 330

Business Description

The Company is in the business of processing of non-basmati rice and basmati rice in India. They are one of the largest processors of non-basmati rice with a milling capacity of 350 Metric tons per day in the State of Jharkhand.

It  has established an Ultra Modern Highly Automated Continuous Buhler’s Swiss Technology Paddy Processing & Rice Milling Plant with a installed capacity of 16 Tones per hour. They are one of the Industry Leader in a short span of time with a storage capacity of 25,000 Metric tons and milling capacity of 1,26,000 Metric tons per year.

Thier brands are well accepted for their quality and standard in the market we operate across Eastern India. The Company’s management is in the industry of rice processing since 2007 and has become a pioneer in experimenting and developing the best qualities of rice

Companies Financials

(Rs. in Lakhs)
Particulars 2016-17 2015-16 2014-15 2013-14 2012-13
Total Revenue 8210.65 8103.86 7902.68 2421.5 5.69
Total Asset 3419.33 3255.33 3257.32 3806.12 1244.61
PAT 102.83 85.96 87.98 -160.5 4.32

Companies Contact Information

SRI KRISHNA METCOM LIMITED

504, Mangal Murti Heights, 5th Floor, Rani Bagan, Harmu Road,

Ranchi – 834001 Jharkhand

Financial Ratios

EPS : 0.81

P/E Ratio: 67.90

Weighted Avg RONW : 7.43%

NAV : 10.95

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Ongoing IPO_Capacit’e Infraprojects Limited

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Capacit’e Infraprojects Limited IPO Detail

Issue Detail:

Issue Open Date

 Sept 13th , 2017 Price Band :

Rs 245 – Rs 250

  
Issue Open Date Sept 15th , 2017 Minimum Bid Qty :

60

  

 

Objective :

The objects of the Issue are:
1. Funding working capital requirements;
2. Funding purchase of capital assets (system formwork); and
3. General corporate purposes

 

Business Description :

 Incorporated in Aug 2012, Capacit’e Infraprojects is a Mumbai based ISO 9001:2008 certified construction company focused on Residential, Commercial and Institutional buildings in metro cities across India. Capacit’e Infra provide end-to-end construction services for residential buildings, multilevel car parking, corporate office buildings and buildings for educational, hospitality and healthcare purposes.

Capacit’e Infra primarily operates in Mumbai, NCR and Bangaluru. The list of clients include Lodha Group, Rustomjee, Godrej Properties Limited, Prestige Estates and Oberoi Constructions. Capacit’e has 51 ongoing projects. The order book consist of 96% residential, 3% commercial and 1% institutional projects.

Capacit’e Infra owns equipment that is required throughout the lifetime of a project including formwork, cranes, hoists, concrete pumps and boom placers. Company have over 1,688 employees and 10,678 contract workers across all its projects.

Company Promoters:

Mr. Rohit R. Katyal, Mr. Rahul R. Katyal, Mr. Subir Malhotra and are the Promoters of the Company.

Mr. Rohit R. Katyal, 46, is the Executive Director and Chief Financial Officer of the Company. Mr. Rahul R. Katyal, 42, is the Managing Director of the Company. Mr. Subir Malhotra, 51, is the Executive Director of the Company.

 

Company Financials:

Particulars

31-Mar-17

 31-Mar-16 31-Mar-15 31-Mar-14

31-Mar-13

Total Assets

 10,264.46 8,452.97 4,993.98 2,929.05 362.80

Total Revenue

 11,399.45 8,168.27 5,121.86 1,748.01

30.29
Profit After Tax 693.14 476.81 307.66 50.52

(23.22)

Company Contact Information :

Capacit'e Infraprojects Limited
 605-607, Shrikant Chambers,
 Phase-I, 6th Floor, Sion-Trombay Road,
 Mumbai 400 071
 Phone: +91 (22) 7173 3717
 Fax: +91 (22) 7173 3733
 Email: compliance@capacite.in
 Website: http://capacite.in/

IPO Registrar :

Karvy Computershare Private Limited
    Karvy House, 46, Avenue 4, Street No. 1,
    Banjara Hills, Hyderabad - 500 034
    Andhra Pradesh, India
 
 Phone: +91-40-23312454
 Fax: +91-40-23311968
 Email: einward.ris@karvy.com
 Website: http://karisma.karvy.com

IPO Lead Manager(s) :

  1. Axis Capital Limited
  2. IIFL Holdings Limited
  3. Vivro Financial Services Private Limited

Morning Business News Round Up_Sep 13,2017

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Morning Business News :

  • Telecom Commission rejects Jio’s demands, favours relief for telcos
  • 1 lakh directors of shell companies to be disqualified
  • Infosys chooses North Carolina for second US hub
  • NITI Aayog wants more push to digital signatures
  • Cos to face action for releasing data with name: Prasad
  • 70% people want scrapped Rs 1000 note back: Survey
  • Rs 3K cr oil, gas reserves project gets govt nod
  • Volkswagen has no plans to divide the group, says CEO
  • Tax dept asks Docomo to pay Rs 2,500 cr on Tata Tele award
  • I-T dept calls big corporate entities to pay advance taxes
  • OPEC sees higher 2018 oil demand, trims output
  • Jet Airways Q1 net doubles to Rs 53 cr on higher other income

Image result for Jet Airways

  • New company to hold telecom tower assets of BSNL gets Cabinet nod
  • NSE to extend deadline for filing annual returns to Oct 31
  • India Inc’s investment overseas down 15% to $1.34 bn in August
  • Banks need $65 bn more capital to meet Basel-III norms: Fitch
  • Japanese premier to fast-track bilateral ties
  • M&A deal value plunges by 46%, firms cautious after GST rollout
  • L&T Construction wins orders worth Rs. 2,525 cr
  • Bill to double tax-free gratuity to Rs20 lakh for government, private employees cleared
  • India’s coal plants run at 3-year high a hydro, nuclear output falls
  • Nepal demands window to exchange currency notes banned by India
  • Tata Sons to raise stake in Tata Global Beverages, Tata Chemicals
  • Govt mulls Rs10 trillion public financing for infrastructure projects
  • Sensex settles at 5-week high at over 32,000; all eyes on August inflation data
  • CPI inflation rises to 3.36 per cent in August as food prices soar
  • US lawmakers oppose 92 per cent cut in aid to Sri Lanka
  • GMR Group eyeing airport projects in Asia and Eastern Europe
  • DLF gets green nod for Rs 240 crore commercial project in Goa
  • Frequent changes in tax rates to impact investment: Hyundai
  • HC seeks TRAI’s response on Vodafone’s appeal
  • ITC to explore new areas as part of diversification
  • UN approves new North Korea sanctions, stopping short of oil embargo