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

Image result for 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
  • Image result for ICICI Pru MF 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

Related imageRoyal 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

Upcoming SME IPO_Jakharia Fabric Limited IPO

Jakharia Fabric Limited IPO

Issue Analysis :

Issue opens June 29, 2018
Issue Closes July 3, 2018
Issue Price Rs 180
Lot Size 800
Issue Size 19.66 Cr
Lead Manager ARYAMAN FINANCIAL SERVICES LIMITED
Registrar BIGSHARE SERVICES PVT. LTD
Platform NSE

Company’s Snapshot :

Incorporated in 2007, Maharashtra based Jakharia Fabric Limited is a company engaged in the business of dyeing and processing of fabrics on job work basis for other textile

companies as well as for own manufacturing product lines. The Company procures Grey Fabric from the market and further dyes and finishes the same as per the client’s requirements on the basis of the quality of the fabric, sizing requirements etc. It also outsources certain processes like the weaving of the fabric and printing as per the demand of the customers based on the quality required. The Company manufactures and processes the fabric especially suitable for Shirtings.

Jakharia Fabric is in process of setting up an additional processing facility at Plot No. J1/1, MIDC Tarapur Industrial Area, Boisar, Palghar – 401 506. This facility is being set up through M/s Jakharia Industries, which is a Partnership Firm, wherein the Company is a partner. The Partnership firm intends to carry on the business of preparing spinning doubling texturing weaving, winding, knitting, scouring, sizing, bleaching, coloring, dying, printing and finishing and processing working or manufacturing in any way whatsoever of cotton, linen, wool synthetics and various other textile products.

The Company has set-up two (2) processing units located at MIDC Area of Saravali, Bhiwandi in Maharashtra and MIDC Area of Tarapur, Bhiwandi in Maharashtra. The plant has the facilities for dyeing and processing wide range of fabrics.

As of March 31, 2018, the company has 319 employees on its payroll.

Object of the Issue :

 

The objectives of the Issue are:

 

  1. Part finance the setting up of processing unit through M/s. Jakharia Industries at Tarapur, MIDC.
  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-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 5,843.80 5,954.17 5,044.23 4,468.05 3,884.99
Total Revenue 7,702.84 7,723.49 8,917.25 7,582.72 4,787.43
Profit After Tax 338.82 446.17 432.86 356.66 80.94

 

Company Promoters:

The promoters of the company are Jignesh Shah, Nitin Shah, and Dixit Shah. Some of the Promoter Group entities, as mentioned below, have been undertaking business similar to the company and this may result in potential conflicts of interest with the Company in the future-

  • M/s. Dixit Processors
  • M/s. Jakharia Industries
  • Jakharia Synthetics Private Limited

Contact Company Information:

Jakharia Fabric Limited

Office No. 1224, Deoji Nagar

Narpoli Village, Bhiwandi,

Thane- 421 302

Phone: +91-25- 2227 8892

Fax:

Email: info@jakhariafabric.com

Website: http://www.jakhariafabric.com/

For Beeline Assistance:  Contact Here

 

Upcoming SME IPO_Ganga Forging Limited IPO

Ganga Forging Limited IPO

Issue Analysis :

Issue opens June 29, 2018
Issue Closes July 3, 2018
Issue Price Rs 21
Lot Size 6000
Issue Size 5.00 Cr
Lead Manager PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED
Registrar LINK INTIME INDIA PRIVATE LTD
Platform NSE

Company’s Snapshot :

Incorporated in 1988, Gujarat based “Ganga Forging Limited is a company engaged in manufacturing of closed die forged products catering to both automotive and non-automotive segment. The automotive segment includes manufacturing of products catering to the commercial vehicle, passenger car, three wheeler, two wheeler, and tractor. The non-automotive segment includes electric power transmission, dairy equipment manufacturing, agricultural, gear and gearbox, crankshafts, connecting road, heavy engineering industries, hubs, and flanges. With a presence in most of the allied products in this industry, the Company caters to wide range of customers.

The existing manufacturing facility of the company is equipped with 4 Drop Hammers, 2 automatic power press, 2 manual power press, 4 furnaces in the forge shop. The manufacturing facilities are well equipped with required facilities including machinery, other handling equipment to facilitate the smooth manufacturing process.

The company has 68 permanent employees on its payroll.

Object of the Issue :

 

The Objects Of The Issue are-

 

  1. To finance setting up of Closed Die Forging manufacturing facility; and
  2. General corporate purposes.

 

Financial Highlights :

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. Lakhs)
31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 1,514.46 1,345.33 1,202.73 1,708.34 858.33
Total Revenue 1,779.17 1,769.45 1,557.19 1,695.99 1,556.93
Profit After Tax 48.49 25.26 46.58 60.74 32.12

 

Company Promoters:

The Promoters of the Company are Mr. Hiralal Mahidas Tilva and Mr. Rakesh Chaganlal Patel. The Promoters hold 18,48,715 Equity Shares in aggregate, which is equivalent to 33.22% of the pre-Issue paid-up Equity Share capital of the Company.

Contact Company Information:

Ganga Forging Limited

 

Plot No 1 SNO 298 & 30

Rajkot Gondal N H, Veraval (Shapar)

Rajkot, Gujarat, 360 024

Phone: +912827-252208 /252077

Fax: +91 2827-252208

Email: info@gangaforging.com

Website: http://www.gangaforging.com/

For Beeline Assistance:  Contact Here

 

Morning Business News Round Up_June 28, 2018

  • India to build two more strategic petroleum reserves
  • Thyssenkrupp, Tata Steel near compromise on JV talks
  • H-1B visa rules to hit Indian IT cos’ margins: ICRA
  • Govt plans to sell Air India’s Mumbai building to JNPT
  • Related imageAllahabad Bank seeks Rs 7,000 crore from government
  • Govt hikes ethanol price by Rs 2.85/litre for 2018-19
  • Automakers warn US tariffs will cost thousands of jobs
  • Singaporean FM asks NSE, SGX to resolve differences, serve investors
  • Fortis probe finds systemic lapses, to recover Rs 5 bn from Singh brothers
  • JSW Steel to invest Rs 75 bn in Karnataka to expand Vijayanagar facility
  • Trai to penalise telcos for call drop violations in March quarter: Chief
  • Rs 20 bn GST evasion in 2 months, less than 100,000 paying 80% of tax
  • Export push: ECGC, NEIA to get more capital support
  • India cautious on China move to reduce import tariffs on goods
  • Fortis lent Rs 494 crore to promoter companies despite management objections
  • UST Global turns ‘unicorn’ with $250-m Temasek funding
  • Telecom sector revenue dips 1.7%, licence fee falls 12.7% in March
  • NCLAT refuses to stop Vedanta from delisting Electrosteel
  • Rupee nears record low on rising oil prices, trade war
  • Mindtree founders may sell entire stake to NEC Corp., private equity firm
  • SBI to shut 9 foreign branches as part of rationalisation: Pravin Gupta
  • Oil prices rise on supply losses, US push to isolate Iran
  • India needs to lower trade barriers: US diplomat
  • Reliance Jio enters a new league, crosses 200 million user mark
  • Retail lending up 25%, number of accounts over 32% in FY18: Cibil data
  • India no longer poor people’s country, 44 Indians pulled out of poverty every minute, says study
  • End oil imports from Iran by Nov 4, US to India
  • India’s quest to find a trillion-dollar nuclear fuel on the Moon
  • Volvo-Eicher eyeing more marketshare with two new trucks
  • ITC’s Savlon campaign bags coveted Grand Prix at Cannes Lions 2018
  • Govt confident LIC-IDBI deal will conclude by Sept

Morning Business News Round Up_June 27, 2018

Morning Business News :

  • PSBs account for 85% of bank fraud cases: RBI report
  • Nearly one-fourth of banks loan has turned sour: RBI
  • Idea shareholders approve new name ‘Vodafone Idea’
  • Sebi orders open offer for NDTV
  • Brexit bill becomes law, allowing UK to leave the EU
  • Hedge funds accuse Indian co of $1.5 bn fraud
  • India records highest number of IPOs globally in 2018
  • Bhushan Steel reclassifies promoters after takeover by Tata Steel
  • Ashok Leyland’s LCV business turns around, posts Rs 1.34 bn profit in FY18
  • Vijay Mallya offers to sell assets worth Rs 139 billion to settle dues
  • LIC may enter banking space; eyes majority stake in IDBI Bank
  • Jindal Steel’s units in South Africa file for bankruptcy protection
  • NPA situation likely to worsen further: RBI
  • Fitch retains Airtel’s ratings at BBB-, outlook stable
  • Govt repaid over Rs 2 lakh cr on account of oil bonds taken: Pradhan
  • 95% safeguard duty sought on imported solar cells, modules
  • Piramal arm sells stake in PISA to Alliance Medical
  • SEBI clears HDFC Mutual’s initial public offering

Related image

  • Japan, South Korea eye tie-up with India to fund projects abroad
  • PNB Housing Finance plans to raise Rs10,000 cr via bonds
  • Macquarie moves insolvency tribunal against Ind-Barath
  • Varroc Engg IPO receives over 30% subscription on Day 1
  • GST Council may cut tax on construction material to 18%
  • Lakshmi Vilas Bank board approves 15 cr eq shares issue
  • NCLT admits insolvency petition against Uttam Galva Steel subsidiary
  • Domestic consolidation, portfolio realignment to boost M&A transactions, says EY report
  • GST Council to look at option of centralised appellate authority
  • GE, icon of American business, to exit health-care and oil sectors
  • Chinese airlines become collateral damage in trade war with US
  • Government debt rises to Rs 76.94 lakh crore in Q4 FY18
  • NBFCs make rapid strides with 30.8% net profit growth in FY18
  • Shriram Transport to issue Rs 5K cr NCDs
  • IndusInd to acquire brokerage biz of IL&FS
  • Irdai likely to clear LIC-IDBI deal with few conditions
  • More women in work force to boost India’s GDP: McKinsey

Ongoing SME IPO_Rajnish Wellness Limited IPO

Rajnish Wellness Limited IPO

Issue Analysis :

Issue opens Jun 25, 2018
Issue Closes Jun 27, 2018
Issue Price Rs 95
Lot Size 1200
Issue Size 11.98 Cr
Lead Manager NAVIGANT CORPORATE ADVISORS LTD
Registrar BIGSHARE SERVICES PVT LTD
Platform BSE

Company’s Snapshot :

Incorporated in 2015, Mumbai based Rajnish Wellness Limited is a company engaged in the business of selling various products in the categories ranging from consumer durables to ayurvedic personal care products. The Company’s major focus area is sexual wellness, energy

Revitalization and personal care products.

The Company has a product portfolio that covers major products including ayurvedic medicines, personal care products, sexual wellness, and energy revitalization items etc. It sells its personal care products under the brand name. “PlayWin Capsules”, “PlayWin Condom”, “Rajnish Lotion”, “Rajnish Plus Lotion”, “Play Win Spray”, “PlayWin Plus Capsules”, “PlaWin Oil”, , “PlayWin F Capsule”, “Kasaav Powder”, “SudantaDantManjan”, “Mithohar Liquid”, “Mithohar Tablets”, “Madamrit Hair Shampoo”, “Madamrit Hair Oil”, “Madamrit Hair Capsule” and Pia Lo Herb’s.

Rajnish wellness has very strong hold in Maharashtra, Uttar Pradesh, Karnataka, Bihar, Odisha, Delhi, Jharkhand, Madhya Pradesh, Uttarakhand, Haryana and West Bengal. Its products are available in all major medical stores in these states.

As of February 28, 2018, the company had 18 permanent employees and 78 contract employees.

Object of the Issue :

 

The objects of the Issue are:

 

  1. Funding of working capital requirements of the Company.
  2. Funding for Branding and Advertisement expenses
  3. To meet General corporate purposes
  4. To meet the expenses of the Issue

 

Financial Highlights :

Summary of financial Information (Restated)  
Particulars For the year/period ended (in Rs. Lakhs)  
28-Feb-18 31-Mar-17 31-Mar-16
Total Assets 1,782.44 837.92 530.35  
Total Revenue 2,423.22 2,529.63 1,315.88
Profit After Tax 161.87 63.87 32.34

 

Company Promoters:

The Promoter of the Company is Rajnishkumar Surendraprasad Singh..

Contact Company Information:

Rajnish Wellness Limited

 

610L, 6th Floor, Building No. 3,

Navjivan Commercial Premises Society,

Lamington Road, Mumbai Central, Mumbai – 400008

Phone: + 91-22-23065555

Fax:

Email: info@rajnishwellness.com

Website: http://rajnishwellness.com/

For Beeline Assistance:  Contact Here

 

Upcoming SME IPO_Rudrabhishek Enterprises Limited IPO

Rudrabhishek Enterprises Limited IPO

Issue Analysis :

Issue opens Jun 29, 2018
Issue Closes Jul 5, 2018
Issue Price Rs 41
Lot Size 3000
Issue Size 18.73 Cr
Lead Manager CORPORATE CAPITALVENTURES PVT LTD, KHAMBATTA SECURITIES LIMITED
Registrar SKYLINE FINANCIAL SERVICES PRIVATE LTD
Platform NSE

Company’s Snapshot :

Incorporated in 1992, Delhi based Rudrabhishek Enterprises Limited is a company engaged in providing integrated services in Infrastructural Services, Urban Designing and planning, Global Information Systems, Building Designing Services and Project Management Services.

The Company is not just providing every service of its field under one roof but also providing them at every level. In other words, the Company is working with the Central Government and with several State Governments of India also. Over the years, the Company has handled projects of different sizes and levels including Zonal/Regional Planning, City Planning, and Master Planning.

REPL also provides its services to Corporate Clients. Some major Corporate clients of the Company include Ansal API, Emaar MGF Land Limited, Gannon Dunkerley & Co. Limited, Hyundai Motor India Private Limited, Omaxe Limited, Paarth Infrabuild Private Limited etc.

Apart from the corporate clients mentioned above, the Company has been empanelled with 30+ Government Development Authority Departments for its services.

As of May 31, 2018, Company has 172 employees on its payroll.

 

Object of the Issue :

The Objects of the Issue are-

  1. To raise funds for long-term working capital required for the Business of the Company;
  2. General Corporate Purpose and
  3. To meet the expenses of the issue.

 

Financial Highlights :

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. Lakhs)
31-Dec-17 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 4,586.28 3,920.61 3,385.42 3,110.69 2,564.39 1,416.52
Total Revenue 3,204.72 2,794.08 3,411.80 3,515.00 3,210.89 2,190.04
Profit After Tax 395.23 413.62 528.98 467.89 759.31 397.47

 

Company Promoters:

The promoters of the company are Pradeep Misra and Richa Misra.

Contact Company Information:

Rudrabhishek Enterprises Limited

820, Antriksha Bhawan,

K.G. Marg,

New Delhi – 110001

Phone: 011 23738974

Fax:

Email: secretarial@replurbanplanners.com

Website: http://www.repl.global/

For Beeline Assistance:  Contact Here

 

Ongoing SME IPO_Bright Solar Limited IPO

Bright Solar Limited IPO

Issue Analysis :

Issue opens Jun 26, 2018
Issue Closes Jun 29, 2018
Issue Price Rs 36
Lot Size 3000
Issue Size 19.44 Cr
Lead Manager SWASTIKA INVESTMART LIMITED
Registrar ALANKIT ASSIGNMENTS LTD
Platform NSE

Company’s Snapshot :

Incorporated in 2010, Gujarat based Bright Solar Limited is a company engaged in assembling of DC/AC Solar Pumps and Solar Pump Systems under the registered brand name of “PUMPMAN”, “BRIGHT SOLAR”, and “BRIGHT SOLAR WATER PUMP”. The company is also engaged in EPC contracts of Solar Photovoltaic Water pumps which include supplying, installing and commissioning of the pump system along with comprehensive maintenance contract for a specific period of 1-5 years. In solar pump system, it has a wide range of products of DC Solar Pump, Solar Pump Inverter, and AC Solar Pump.

In the year 2017-18, the company started providing consultancy services for acquiring projects and tender bidding after identifying the competent client on the tender to tender basis. In addition, we have also been added water supply, sewerage, and infra project in its service portfolio. We have also been awarded water supply and sewerage projects. Bright Solar is in the process of acquiring a land admeasuring area of 18209 Square meters at Kheda, Gujarat and on which the company is planning to set up a manufacturing unit for Solar PV modules/panels. The Company has already executed an agreement to sell for the acquisition of land. It is also planning to set up a water treatment plant assembling unit at Patna (Bihar).

To sum up, Bright Solar is into assembling of DC/AC Solar Pumps and Solar Pump Systems, EPC contracts of Solar Photovoltaic Water pumps, consulting of Projects and tenders, Water supply and Sewerages Infra Project. The company is planning to commence Solar Module manufacturing and water treatment plant assembling unit.

The company has 18 permanent employees on its payroll.

 

Object of the Issue :

 

The objects of the Issue are:

 

  1. Acquisition of Land, its Registration, Stamping, and other charges
  2. Working Capital,
  3. General Corporate Purpose,
  4. Issue Expenses.

Financial Highlights :

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. Lakhs)
31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 3,309.49 2,212.31 3,892.34 818.82 1,978.49
Total Revenue 1,812.99 1,547.06 4,784.25 2,846.13 2,239.93
Profit After Tax 171.11 70.53 196.87 54.29 38.02

 

Company Promoters:

The Promoter of the Company is Mr. Piyushkumar Thumar.

Contact Company Information:

Bright Solar Limited

 C-1103, Titanium Square,

Thaltej Circle, S G Highway,

Thaltej, Ahmedabad – 380 059

Phone: +91 – 79 – 4892 6868

Fax:

Email: compliance@brightsolar.co.in

Website: http://www.brightsolar.in/

For Beeline Assistance:  Contact Here