- Telecom Commission clears new telecom policy
- CEA praises Raghuram Rajan for identifying NPA issue
- LIC-IDBI Bank deal may conclude by September
- FinMin may relax data storage rules for payment cos
Maha: PepsiCo to develop infra to recycle plastic- IHH set to win Fortis, values it at Rs 9,335 crore
- NATO countries must pay 2% of GDP: Donald Trump
- Start reducing oil prices or expect demand to sink, India warns OPEC
- Sebi not averse to the merger of exchanges, says Chairman Ajay Tyagi
- In Round 2 of trade war, US plans 10% tariffs on $200-bn Chinese goods
- Sterlite Power wins six transmission projects in Brazil, to invest $2 bn
- Bajaj Hindusthan to sell 17.51% stake in group’s power firm LPGCL
- Private equity, VC investments cross $15 b in H1
- Ministers’ group not in favour of sugar cess
- Net neutrality gets telecom panel’s nod
- BSNL starts first internet telephony service in India
- Vistara to buy 19 Airbus, Boeing planes worth $3.1 billion
- Trading halts on MCX briefly due to technical glitch
- India replaces France as world’s 6th biggest economy
- IndusInd Bank’s first quarter show underscores its premium valuation
- Adani, GAIL among 400 bidders for city gas licenses
- Brookfield in talks to acquire Altico stake
- Petrol, diesel cars may be taxed more to push electric vehicle sales
- Sebi paper soon on large firms tapping bond market
- Chief Economic Advisor Arvind Subramanian rules out a single rate GST
- US drugmaker Pfizer Inc to split company into three units
- Single data breach costs nearly Rs 12 crore in India, says IBM study
- GMR sans SkyTrax rating disqualified for Philippines airport project
- Pakistan’s indebted economy heads toward another IMF bailout
- India cuts Iranian oil imports by 16% in June to 592,800 bpd
- Rupee to stay in 68-72 range near-term: UBS
- GST on some more items to be cut
- Banks fear Mudra loans sans Collateral may become NPAs
- Govt mulls 1% cess on luxury items to build farm corpus
Month: July 2018
Morning Business News Round Up_July 11, 2018
- RBI sells a record $12 billion to salvage the rupee
- I&B Min seeks data on job creation from 10 ministries
- TCS profit grows 23% to Rs 7,340 crore in Q1
- India maintains position as top IT exporter
- MPC to continue with 3-day format for policy meet
- Patanjali not to back out from race to buy Ruchi Soya
- Vedanta to bid for coal mines in India: Anil Agarwal
- Easiest to do business in AP, Telangana and Haryana; Delhi scored very low
-
IndusInd Bank Q1 up by 24% at Rs 10.36 billion, asset quality falls - Maruti gains market share to 53.54% in Q1; Tata Motors pips Honda Cars
- Reliance-BP JV seeks licence to retail gas in 15 cities, IGL bids for 13
- China hikes anti-dumping duties on US optical fibre seven fold to 33.3%
- Steel Ministry fears US tariff on imports will result in cross dumping
- JSW Steel revamps acquisition strategy after recent setbacks
- Maruti Suzuki retains top spot, gains market share in Q1
- 15 firms commit to cut salt, sugar and fat in their products
- India, South Korea set target of increasing trade to $ 50 bn by 2030
- NCLAT defers Binani Cement insolvency case hearing
- Passenger vehicle sales rise 38% in June; car sales up 34%
- PNB, Carlyle Group to offload 51% stake in PNB Housing Finance
- LIC unions oppose acquisition of IDBI Bank by insurer
- Tata Motors acquires 26% stake in freight start-up TruckEasy
- Airtel to launch pre-5G Massive MIMO technology in key Kolkata hubs
- India imposes anti-dumping duty on Chinese polyester yarn
- Tata Motors to launch 12 new models: Will invest Rs 12,000 crore over next three years in India
- Cement firms’ operating margin under pressure
- Govt dividing retail trade with new e-commerce policy: RAI
- Jio Institute’s Institution of Eminence tag conditional: Govt
- Natural gas may come under GST earlier than expected
Morning Business News Round Up_July 10, 2018
- DoT clears Idea-Vodafone merger with conditions
- PE/VC inflows jump 46% in H1, cross $15 billion: Report
PM may announce 3 new agri marketing reforms- Jio’s broadband service to impact MSOs, DTH players
- 9th CGD bidding may fetch Rs 70,000 cr investments
- HCL Tech to consider share buyback on Thursday
- ‘China could hurt US once it ran out of imports to tax’
- India Inc to post 12.8% revenue growth in Q1; highest in three years
- Foreign Secretary Boris Johnson quits UK govt in mounting Brexit crisis
- RBI raises Centre’s WMA advances to Rs 700 bn for July-September quarter
- Liberty House moves NCLAT, seeks info on bids from Bhushan Steel lenders
- SIDBI targetting MSME lending of Rs 1.40 trillion during current fiscal
- Warren Buffett starts to say goodbye to a pile of equity-index options
- SAARC Development Fund plans cross-border e-commerce platform
- Centre plans to set up fisheries infrastructure development fund
- India, South Korea agree on early reduction of tariffs on 11 items
- Lupin gets USFDA nod for generic malaria drug
- I-T dept sells part of Cairn shares to recover retrospective tax
- IHH Healthcare likely to seal Fortis deal with ₹ 4,700-5,400 crore bid
- 3 PE firms in talks to buy stake in Glenmark API business
- UPL set to acquire Arysta LifeScience for over $4 bn
- NCLT rejects Cyrus Mistry’s plea against Tata Sons
- Samsung opens world’s largest mobile phone factory in Noida
- 46 amendments to GST law on anvil; employers may get to claim ITC on food, transport
- HCL Technologies gets government’s nod to set up SEZ in Andhra Pradesh’s Vijayawada
- Electric Maruti Suzuki Alto, Swift soon! Suzuki aims to sell 15 lakh electric cars in India.
- Summer crops acreage falls; July rain critical for sowing
- Mistry to appeal against order
- Xiaomi makes weak debut after big-bang IPO
- Industrial credit stagnant at Rs 27L crore
Morning Business News Round Up_July 09, 2018
- CCI dismisses complaint against IOCL, BPCL, HPCL
- China’s e-commerce players value Indian mkts: Report
- PNB’s wilful defaulters dues fall to Rs 15,354 cr
- Investors adopting ‘wait and watch’ approach on India
- GST: GoM favours deferment of sops for e-payments
- PSBs to raise Rs 50K crore equity capital in FY19
-
JP Associates gets Rs 2,850 crore contract in J&K - India reconsidering Rs 2 trn 5th generation fighter jet project with Russia
- ONGC postpones KG basin project to Dec 2019; oil production by March 2021
- CBI looks for banking, tax experts to help probe in multi-billion scams
- Curb ‘high-pitched’ assessments against taxpayers: CBDT to I-T dept
- Auditor Deloitte raises red flag over Fortis Healthcare’s financial results
- Statutory auditor certificate must for companies raising public deposits
- GST discount on digital payments deferred
- ICICI Prudential MF to seek clarity from SEBI on its ICICI Securities IPO
- India to tell US not to judge ties on the basis of trade deficit
- Central agency must be set up to evaluate big loan proposals: ICAI
- Trai’s public WiFi model breaches Telegraph Act: COAI
- Fundraising via IPOs doubles to ₹ 23,670 crore in 1st half of 2018
- Ashok Leyland plans to take its Optare electric bus to new markets
- GSPC to commission Mundra LNG terminal in 2-3 months
- US oil sellers may look to India as China tariff war escalates
- Vijay Mallya shrugs off threat of British asset seizures
- Swedish furniture major IKEA to open first store in Hyderabad on July 19
- Pharmaceutical sector may post 17% revenue growth in June quarter, says Report
- IMPS fund transfer doubles to Rs 3.23 lakh crore in Q1 of FY19
- PNB confident of exceeding FY19 recovery target of Rs 22K cr
- Samsung to set up largest mobile factory in Noida
- BSNL first telco to start Net telephony, prepaid landline billing
- Hero Cycles plans acquisitions in Brazil, eastern Europe
- Fund-raising via IPOs nearly doubles in H1
Morning Business News Round Up_July 06, 2018
- Rupee crumbles to fresh all-time low of 68.95
- London court orders seizure of Mallya’s UK assets
- Iran tells Trump to stop tweeting about oil prices
- Centre may infuse fresh capital into Air India: Report
- Ambani kids unveil telecom’s biggest game-changer
-
TRAI issues changes to interconnect regulations; tweaks norms - India looks to acquire Lithium & Cobalt mines abroad
- Chanda Kochhar asked to reply to Sebi show cause notice by July 10
- City gas distribution licensing: India expects multiple bids on July 10
- Banks finalise inter-creditor agreement to fast track NPA resolution
- SAIL raw material division logs record iron ore output, despatches volumes
- Tata Projects bags Rs 30 billion Bharat Net project in Chhattisgarh
- Difficult to predict end of pricing pressure in US: Dr Reddy’s
- Auto verification under GSTN likely by month-end: DGFT
- Benefits portability likely for construction workers
- Garment exporters expect GST refund of ₹4,000 cr
- Ceat inks pact with Tamil Nadu for ₹4,000-crore greenfield tyre
- Orb Energy to double manufacturing capacity of solar photovoltaic panels
- Reliance Industries bets on Jio to double sales in 7 years
- Rupee slumps to an all-time closing low versus US dollar
- Liberty House’s resolution plan for Adhunik, Zion gets lenders’ nod
- Supreme Court gives nod for auction of three Unitech properties worth ₹600 crore
- Gujarat Gas looking to buy GAIL Gas’s stake in VGL for ₹200-250 crore
- India records double-digit air passenger growth for 45th consecutive month in May: IATA
- Kalyan Jewellers to invest Rs 1,000cr to open 20 stores in FY19
- China push to end reliance on US technology at trade fight’s core
- Russian search engine alerts Google to possible data problem
- MMTC-PAMP seeks gold coin sales by banks again
- SBI raises market share in housing mortgage biz
- Coal inventory improves, power generation up
- Petrol, diesel prices hiked as global crude rates firm up
- Bank credit grows at 12.84%, deposits 7.59%
Upcoming SME IPO_Ambani Organics Limited IPO
Ambani Organics Limited IPO
Issue Analysis :
| Issue opens | July 06, 2018 |
| Issue Closes | July 10, 2018 |
| Issue Price | Rs 66 |
| Lot Size | 2000 |
| Issue Size | 9.03 Cr |
| Lead Manager | Aryaman Financial Services limited |
| Registrar | Universal Capital Securities Pvt. Ltd |
| Platform | NSE |
Company’s Snapshot :
Incorporated in 1985, Thane, Maharashtra based Ambani Organics Limited is a company engaged in the business of specialty chemicals. The company is a manufacturer, processor, importer, supplier, and exporter of water-based specialty chemicals used in Paper Industry, Paint Industry, Textile Industry, Carpet Industry, Adhesive Industry, etc. Ambani Organics is an “ISO 9001:2015 – Quality Management System” certified company and has also obtained GOTS (Global Organic Textiles Standards) certification for some of its textile industries chemicals.
The Company has 2 (two) manufacturing facilities in Thane located adjacent to each other. It also has a dedicated in-house Research & Development and Quality Assurance/Quality Control Team which undertakes rigorous testing and quality management. The R&D Centre is located at MIDC Tarapur, Boisar, Thane.
The company has 80 permanent employees on its payroll.
Object of the Issue :
The Issue comprises a Fresh Issue by the Company and an Offer for Sale by the Selling Shareholder. The Company will not receive any proceeds of the Offer for Sale by the Selling Shareholder.
The Objects of the Fresh Issue is to raise funds for:
- Funding Long-Term Working Capital Requirement; and
2. Funding expenditure for General Corporate Purposes
Financial Highlights :
| Summary of financial Information (Restated) | ||||||
| Particulars | For the year/period ended (in Rs. Lakhs) | |||||
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | ||
| Total Assets | 4,777.78 | 3,830.50 | 3,004.24 | 1,902.19 | 2,531.88 | |
| Total Revenue | 6,558.15 | 5,289.85 | 3,291.40 | 3,765. 77 | 3,419.69 | |
| Profit After Tax | 182.30 | 83.17 | (38.89) | (243.99) | 32.35 | |
Company Promoters:
The promoters of the company are Rakesh Shah Apooni Shah.
Contact Company Information:
Ambani Organics Limited
N-44 MIDC,
Tarapur Boisar,
Thane- 401 506,
Phone: +91 – 22 – 2683 3778
Fax: +91 – 22 – 2683 3778
Email: info@ambaniorganics.com
Website: http://www.ambaniorganics.com/
For Beeline Assistance: Contact Here
Ongoing SME IPO_Raw Edge Industrial Solutions Ltd IPO
Raw Edge Industrial Solutions Ltd IPO
Issue Analysis :
| Issue opens | July 05, 2018 |
| Issue Closes | July 10, 2018 |
| Issue Price | Rs 72 |
| Lot Size | 1600 |
| Issue Size | 16.50 Cr |
| Lead Manager | Guiness Corporate Advisors Pvt Ltd |
| Registrar | Bigshare Services Pvt. Ltd |
| Platform | BSE |
Company’s Snapshot :
Incorporated in 2005, Mumbai based Raw Edge Industrial Solutions Limited is a company engaged in the business of providing industrial minerals to manufacturing industries at competitive prices. The company is delivering fully integrated solutions of Raw Material supplies to large and medium industrial houses. It is one of the leading Manufacturers and Suppliers of a quality range of Calcined Lime, Dolomitic Lime, Hydrated Lime, AAC Lime, Calcined Magnesite, Clinker, Quartz, Gypsum, Imported Coal, etc.
In February 2018, the company has entered into an agreement for sale for acquiring agriculture land of `50.21
Lakhs at Surat for setting up a manufacturing unit of crushed Quick Lime and Hydrated Lime with an installed capacity of 1,20,000 MT/per annum located. In addition to its existing capacity of 60,000 ton/per annum capacity plant which is to be shifted at the aforesaid new premises will be making the total installed capacity of 1,80,000 ton/per annum.
Though the customers of Raw Edge are spread over 10 states, the major supply of its products are concentrated in the state of Gujarat and Rajasthan (contributing 91.37 % of total turnover).
The company has 33 permanent employees on its payroll.
Object of the Issue :
The present Public Issue of 22,91,200 Equity Shares includes a Fresh Issue of 16,81,200 Equity shares and an offer for sale of 6,10,000 equity shares by the Selling Shareholder at an issue price of ` 72 per Equity Share.
The Company will not receive any proceeds from the Offer for Sale of 6,10,000 equity shares.
The objects of the Fresh Issue are:
1. Expansion by setting up Manufacturing Unit
2. Working Capital Margin
3. General Corporate Purpose
4. Meeting Public Issue Expenses.
Financial Highlights :
| Summary of financial Information (Restated) | ||||||
| Particulars | For the year/period ended (in Rs. Lakhs) | |||||
| 31-Jan-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 2,912.26 | 2,718.57 | 2,305.11 | 1,488.56 | 1,377.22 | 774.00 |
| Total Revenue | 4,498.74 | 4,860.73 | 4,133.55 | 3,826.82 | 3,349.57 | 6,662.21 |
| Profit After Tax | 133.40 | 61.63 | 58.05 | 44.71 | 70.41 | 81.50 |
Company Promoters:
The Promoters of the company are Bimal Rajkumar Bansal, Sourabh Bimal Bansal, and Siddharth Bimal Bansal.
Contact Company Information:
Raw Edge Industrial Solutions Ltd
Shop No. 47, Ground Floor,
Citi Mall, New Link Road
Andheri (W), Mumbai -400053
Phone: 91-72269 96805
Email: info@rawedge.in
Website: http://www.rawedge.in/
For Beeline Assistance: Contact Here
Morning Business News Round Up_July 05, 2018
Morning Business News :
- IBBI amends norms, home buyers can now seek relief
- Working to make Air India profitable again: Govt
- India may not be affected by trade war: McKinsey head
- Public WiFi to contribute $20 bn to GDP by 2019: Study
- NCLT order on Tata-Mistry case on July 9
- Govt to extend RRBs’ recapitalisation scheme
- SC tells Jaiprakash Associates to deposit Rs 6 bn to refund home buyers
- Lenders may invoke guarantees of Shriram Transport Finance on SVL Ltd
- Essar Oil UK’s net profit dips 4.2% to Rs 10.37 billion in 2017-18
- Rs 3.8 trillion from 70 accounts need NCLT resolution by September: Report
- Rs 700-bn I-T refunds issued to taxpayers, 99% of claims processed: CBDT
- Yes Bank gets SEBI nod to launch MF business
- Cabinet hikes MSP for paddy by Rs 200 per quintal
- India plans to negotiate with US on oil imports from Iran
- Qatar fund buys Sahara-owned Plaza Hotel for $600 mn
- UAE-based Phygicart to enter India with ₹100-cr investment
- CCEA approves ₹1-lakh cr for research in higher education
- RBI grants licence to Bank of China to set up branch in India
- Airtel aims to morph into a technology firm
- Vedanta weighs $7 billion merger with Anglo American South Africa
- Maruti Suzuki plans to hike Gujarat plant’s production by 7.5 lakh cars by 2020
- Accenture’s Q3 revenue rises 16%, profit beat estimates
- Vijaya Bank hikes lending rates by up to 50 bps
- CSCs to be engaged as Banking Correspondents under pact with HDFC Bank
- Cabinet gives nod to bill for setting up DNA banks to store profiles
- Total CSR spend may cross Rs 50,000 crore by March 2019, says report
- Salzer Electronics to acquire two overseas firms
- No impact on property prices post-tax reform
Morning Business News Round Up_July 03, 2018
- Govt rules out bad bank, unveils five-point plan to clean NPA mess
- DoT seeks sale details of Tata Tele-Bharti Airtel deal
- Chasing all defaulters may hit economy: Gadkari
Return Rs 240-cr to investors: Sebi to ICICI Pru MF- Amazon closes on Apple in the $1 trillion stake
- ONGC gives nod to explore group restructuring options
- Vedanta Resources delisting: Anil Agarwal retains control via Volcan
- Insolvency process: SC asks Binani Cement pleas to be moved to NCLAT
- ITC to follow asset-light strategy for expansion of hotel biz: Sanjiv Puri
- India reduces duties on 3,142 imports from China, Asia-Pacific nations
- Tata Steel to buy more iron ore from OMC after Bhushan Steel takeover
- Kharif output may be down a tad at 137.73 mt
- Core sector growth slips to 10-month low in May
- Iran oil: Sushma Swaraj to take a call on India’s stance
- Goyal expects fiscal deficit to be lower than Budget Estimate in FY19
- Motown boom moulding good growth for forging industry
- India can export up to 5 GW wind energy by 2022: Tulsi Tanti
- NCLT reserves order on Srei Infra’s plea against Sterling units
- Walmart says Flipkart acquisition in line with India’s FDI policy
- HUL raises stakes in battle against trademark violation
- Lenders keen to offer Uttam Galva units to single bidder
- Everstone’s Everfoods buys Cookie Man owner
- Dell Technologies to buy out VMware tracking stock
- Government may bring in tougher premium rule to limit hike July
- Air India sale will be determined by market conditions, says PM Narendra Modi
- Retail inflation for industrial workers remains flat at 3.96 per cent in May
- Infra sector growth dips to 10-month low of 3.6% in May
- India to provide tariff concessions on 3,142 items to APTA members
- Board okays restructuring of ONGC firms
- VFS get PE funding from Capital First
- Ceramic tiles industry eyes double-digit growth
Morning Business News Round Up_July 02, 2018
Tata Steel to get debt relief from Thyssenkrupp deal
India seeks ways to continue Iran oil imports
GST impacted direct tax collection as well: Jaitley
NCLT verdict on Tata-Mistry feud on July 4
FDI growth hits five-year low in 2017-18
TRAI fines telcos for not meeting service quality norms
ATF price cut by 2.7% on falling global rates
PAN-Aadhaar linking deadline extended till March 2019
Royal Enfield records sale of 74,477 units in June, growth up by 18%
Adani Group plans to raise up to Rs 60 bn via securities, stake sales
Iran vows to thwart US efforts to block its oil exports, warns Saudi Arabia
Govt will soon come out with definition for shell companies: P P Chaudhary
GST collections rise to Rs 956 bn in June, to reach 1 trn: Hasmukh Adhia
Maruti Suzuki’s June sales up 36% at 1,44,981 units
Dr Reddy’s recalls 2.36 lakh bottles of cholesterol lowering tablets from US
KYC to be made mandatory for directors by Aug 31: Ministry
GST implementation in India not disruptive, says Jaitley
Wal-kart deal: Trader protest across India
‘Too many regulations stifle insurance sector growth’
RBI’s Sudarshan Sen warns bankers against non-compliance
Zydus Cadila gets USFDA nod for blood pressure drug
Coal India misses June production target by 7.9 MT
Insurance firms, banks want to be a part of India’s roads growth story
PNB hikes lending rates by up to 10 basis points
China’s manufacturing activity slips amid trade war with US
Government forms panel to upgrade norms for state, district level economic data collection
RBI, Finance Ministry must step in to curb rupee depreciation, says Assocham
Tata Steel to continue to evaluate, pursue growth opportunities in India
MSP hike to hit exports badly
Crude Oil unlikely to touch $90 at once
Bank consolidation back on the table
Sahara confident of getting out of financial constraints by FY19
Vodafone gears up to challenge fresh spectrum fee demand