Weekly Markets Sentiment_25.11.2017

Markets closed the week up about 1%. Sentiment was sluggish throughout the week. Moody’s upgrade did lift sentiments a lot. However, markets seem to look forward to other triggers now. Result season is almost on the end and all major earnings have come out. Between RCOM’s negative news and Moody’s positive upgrade, participants in markets seem confused. Midcaps and Smallcaps continue to attract a lot of attention and sentiment seems very bullish there. IPO frenzy seems to have subsided as tepid listings gave a bad rub off to sentiments. Markets move into perhaps a very critical trigger mode – Gujarat elections.

Technically speaking, Nifty has rebounded from crucial supports. Its 50D EMA stands at 10186 which was the double top it broke. 10100 is your medium term support. A break down of that will trigger the much awaited deep correction. On the upside 10500 needs a clear breakout. Over the short run, Nifty kept oscillating between 10300-10380. Momentum was very sluggish as traders perhaps do not want to punt on either side of the market. A slow move towards the 10500 is expected as clarity emerges on election sentiments.

Fundamentally, like before markets are over valued. Multiples are stretched beyond imagination. Sentiment is such that people are comparing the situation to pre 2008 crisis. Results have been ordinary, some pockets although have given green shoots. GDP numbers and monetary policy will give further fundamental triggers. FII’s have been passive sellers and DII’s continue there dream run of collecting domestic money and pumping it in the markets. Value is scarce in the market.

Globally, thanksgiving played out nicely in US. China did scare Asia as stocks took a hit due to some bubble commentary. Overnight sentiments remain stable and no major fundamental reason exists. Globally markets should continue to scale new highs. Dow sits pretty at 23500+, NASDAQ above 2600. VIX is at all time near low and complacency has set in. A word of caution needs to be sent here.

Sector views – Nifty Energy index looks to hit new highs and should hit 14600+. Keep an eye on its constituents. Nifty IT is at a critical junction. Sentiment can take it above 11300 towards 11500.

Upcoming SME IPO_ Ice Make Refrigeration Limited


Issue Details

Issue opens 28th November 2017
Issue Closes 4th December 2017
Issue Price 55-57
Lot Size 2000
Issue Size 23.71 Crore
Lead Manager Vivro Financial Services Private limited
Registrar Link Intime India Private Limited
Platform NSE

Promoter & Promoter Group

  1. Mr. Chandrakant P. Patel
  2. Mr. Rajendra P. Patel
  3. Mr. Vipul I. Patel

Business Description

The company is a  refrigeration equipment manufacturer, engaged in providing cooling solutions. They  provide cooling solutions for cooling systems and accessories used in industries such as dairy, ice-cream, food processing, agriculture, pharmaceuticals, cold chains, logistics, hospital, hospitality and retail, among others. They classify the business into the following 4 verticals: (i) Cold Room (ii) Commercial Refrigeration (iii) Industrial Refrigeration and (iv) Transport Refrigeration. They operate their business verticals under the brand of “Ice Make”.

Object of the ISSUE

(Rs. in Lakhs)
Sr. No. Particulars Amount
1 Capital Expenditure 1456.68
2 Working Capital Requirements 500.00
3 Enhancement of Brand 150.00
4 Investment in Subsidiary 110.13
5 General Corporate Purpose 154.39
Total 2371.20

Overview of Financials

(Rs. in Lakhs)
Particulars 2016-17 2015-16 2014-15 2013-14 2012-13
Total Revenue 8788.28 7182.07 5061.82 3925.93 4048.26
Total Asset 5487.87 3867.39 3340.2 2835.57 2094.29
 Net Profits 510.89 264.34 93.41 89.05 82.96

Financial Ratios

EPS: 7.10

P/E Ratio : 8 times

RONW : 32.98%

NAV : 21.53

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Morning Business News Round Up_Nov 23rd,2017

Morning Business News :

  • High Court refuses to stay probe in RIL gas price issue
  • Power Grid sees $25 bn bounty from Modi’s power plan
  • Maruti may shift entire Swift production to Gujarat

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  • ArcelorMittal team visits Essar Steel, Bhushan Steel plants
  • Tata Tele users to be moved to Airtel under ICR pact
  • Centre to bring in ordinance for changes in banking insolvency law
  • India adds 2,247 MW solar cap in Jul-Sep 2017: Report
  • April-Oct trade deficit soars 60% to $88 billion: DBS report
  • Trai seeks hike in spectrum cap from 25% to 35%
  • Theresa May govt sets aside extra 3 billion pounds for Brexit
  • Electric vehicle fleet can create $300 bn domestic battery mkt: Niti report
  • UBI gets SEBI approval for Rs 1,000-cr equity issue via QIP
  • Indian companies to see better credit profiles in 2018, says Moody’s
  • Cabinet approves ordinance for making changes in insolvency code
  • Cabinet clears wage policy for CPSEs, offers no budgetary support
  • Power generators can pass on cost of retrofitting plants
  • Govt sets up panel to review income tax laws
  • Antidumping agency starts sunset review of duty on caustic soda
  • Cabinet nod for setting up of 15th Finance Commission
  • Govt mulling convening Winter Session of Parliament from 15 December
  • BIS to frame hallmark standards for 24 carat gold jewellery
  • SC bars Jaiprakash Associates directors, promoters from transferring personal assets
  • Paytm acquires stake in online loans firm CreditMate
  • COAI seeks more time for new SIM re-verification modes
  • PE deals touch $8.7 bn, M&A activity hits $2.1 bn in September quarter, says report
  • Japan’s JFE, India’s JSW to bid together for Bhushan Steel as it faces insolvency
  • Spanish firm Eptisa Servicios de Ingenieria SL selected for Patna smart city project
  • Adani close to secure Chinese loans for its Australia project, says report
  • Britain hikes Brexit pot, slashes growth forecasts
  • Coalscam: Docs supplied to Jindal and others, CBI tells court
  • FMCG firms slash prices after govt fiat
  • Global studios, broadcasters come shopping to India
  • Eicher Trucks targets e-comm with new vehicles
  • Papers given to Jindal and others, CBI tells court in coal scam

Upcoming SME IPO_Zodiac Energy Limited



Issue Details

Issue opens 23rd November 2017
Issue Closes 27th November 2017
Issue Price 52
Lot Size 2000
Issue Size 10.14 Crore
Lead Manager Swastika Investmart ltd
Registrar Link Intime India Private Limited
Market Makers Beeline broking Ltd
Platform NSE

Promoter & Promoter Group

1. Mr. Kunjbihari Shah ( He is having more than 25 years of experience in field of energy with specialization in captive and co-generation power plants)

2. Mr. Jugalkishor Shah ( He has joined our Company as Non-Executive Promoter Director and will continue to guide the company by his valuable experience.)

Business Description

It is a  Energy Solution Provider company having experience of more than two decades in majority of verticals of power generations spectrum. Their spectrum of services are including Design, supply, installation, Testing and Commissioning (EPC) and Operation and Maintenance (O&M) in short we provide turnkey solutions from concept to commissioning of power plants.

Our company has installed solar power plants for many prominent clients like Sun-Edison India Limited, Adani Group, Torrent Power Limited, Gujarat Energy development Agency, Reserve Bank of India, Directorate of Lighthouse and Lightships Government of India (GoI), Indian Oil Corporation Limited to name a few. The company has installed more than 6,000 KW of Rooftop solar power plants till now and it envisages to reach at 10,000 KW by end of 2017-18.

Companies Competitive Strength

  1. Timely Completion of Projects
  2.  Experienced Management and promoters
  3. Long term relationship with clients

Object of the Issue

(Rs. in Lakhs)
Sr. No. Particulars Amount
1 Working Capital Requirements 795.00
2 General Corporate Purpose 169.00
3 Issue Expenses 50.00
Total 1014.00

Overview of Financials

(Rs. in Lakhs)
Particulars 2016-17 2015-16 2014-15 2013-14 2012-13
Total Revenue 1669.83 918.57 867.36 951.44 885.03
Total Asset 786.57 573.69 668.49 726.85 333.59
 Net Profits 23.81 10.95 4.58 11.08 9.40

Financial Indicators 

EPS: 0.67

P/E Ratio : 77 times

RONW : 15.62

NAV post Issue : 4.27

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Morning Business News Round Up_Nov 21,2017

Morning Business News :

  • Govt raises Rs 14,500 crore from Bharat 22 ETF
  • Council plans to further categorise GST rates, merge 12%, 18% slab
  • Wipro’s Rs 11K cr share buyback to open on Nov 29
  • Vodafone, Idea may face network issues post merger
  • TechM hopes to touch $5 billion in revenues in FY18
  • Coal India may double supplies via road
  • Clean energy firms eye SE Asia, M East to hedge risks
  • Reliance Industries, Adani, REC issue $1.7-billion bonds
  • Vedanta set to overtake Aditya Birla group as largest aluminium maker
  • Vijay Mallya’s extradition trial confirmed from December 4
  • Domestic institutions lend their weight as anchors in IPOs
  • Farmers demand total debt waiver, remunerative crop prices
  • Logistics gets infrastructure status, industry sees 50 bps savings
  • Moody’s gives Baa2 rating for RIL’s offshore dollar bonds issue
  • Electronics appliance market set to grow at 10% CAGR: study
  • Centre’s solar plans get $98-m loan from World Bank
  • Sugar mills see bumper crop, want curbs on stocking to go
  • MCX gold options off to a slow start
  • Phoenix Group to set up Rs. 325-cr rice mill in AP
  • India can return to 8.5% growth rate: Arvind Subramanian
  • Shell companies: Sebi panel to look into complaints of errors in classification
  • JSW Steel exploring tie-ups to acquire stressed assets
  • GST rate cut: FMCG firms asked to update MRPs immediately

Image result for GST rate cut

  • Govt tells PSU banks to consolidate international branches
  • Taaleri eyes Fortum’s solar power projects in India
  • Transition to electric mobility system can save $330 billion: Report
  • Big impetus to logistics sector; infrastructure status to bring down costs
  • Government is committed to tackling bad loans; takes two steps forward
  • Japan’s best export performance since 2008 crisis rolls on
  • Wipro arm to provide smart lighting with Cisco in India
  • Bond yields dip as RBI drops OMO sale
  • Mumbai down 10 slots, Delhi 7 on list of preferred investment destinations
  • Corporates cut investment in gold ETF by 38% in a year
  • Sebi puts penny stocks under scrutiny; to seek withdrawal of LTCG
  • JSW, Vedanta, Tata in race to hold controlling stake in Monnet
  • FinMin to consult law ministry on inclusion of realty under GST

Morning Business News Round Up_Nov 20,2017

Morning Business News :

  • Naik recalls takeover bids from Ambanis, Birla
  • SBI to start using blockchain for smart contracts, KYC
  • IRP nod must for recovering from defaulter’s a/c: NCLAT
  • I-T slaps criminal charges under anti-black money Act
  • China to join India’s International Solar Alliance
  • Royal Enfield unveils Interceptor, Continental GT 650
  • Wipro BPS unit hits 2020 target of $1 billion
  • Toxic assets: Soon, ordinance to block defaulters from bidding
  • Govt may grant infrastructure status to logistics sector
  • India moves up one notch to 126 in per capita GDP terms, says IMF data
  • Budget deficit may rise in FY18 but will improve in years ahead: Moody’s
  • Govt seeks Rs 13,000-cr surplus from RBI
  • Govt not to sell Cairn Energy shares to recover Rs 10,247-cr tax
  • FPIs infuse over $2 bn in equity markets so far this month
  • Plea against Govt’s stake sale in Dredging Corpn
  • SAIL to diversify product range
  • Domestic stainless steel production to touch 3.6 mt by year-end
  • ‘Digital payments are making financial services more affordable’
  • India’s global exchanges await the ‘GIFT’ of rupee futures trade
  • Goldman Sachs sees four 2018 Fed rate hikes as US growth gains
  • NSE SME to touch 100 mark, 50 IPOs likely in next 6 months

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  • Sebi chief says norms for IRPs soon
  • Eris to buy Strides Shasun’s India branded business for Rs500 crore
  • Telecom Commission to consider IMG recommendations next month for final nod
  • ArthaKranti’s banking tax not singularly superior, says NIPFP report
  • Black money: Swiss Parliamentary panel paves way for automatic information exchange with India
  • India’s holdings of US government securities jump to $145 bn
  • Automobile exporters under pressure as GST refund gets stuck
  • Urban Ladder sets time line for profitability, IPO
  • Real estate awaits return of FDI wave
  • Discounts jump to 20% in commercial vehicles segment
  • Canada protests India’s imposition of 50% levy on import of yellow peas
  • Trai likely to back Reliance Jio’s cashback offers

Morning Business News Round Up_Nov 16,2017

Morning Business News :

  • Airtel stake sale in Infratel credit positive: Moody’s
  • Sebi attaches Mallya co’s a/cs, MF units, securities
  • Ensure GST cuts passed on to consumers: Centre
  • Demand for quality goods/services up in rural India: SBI
  • Sebi likely to cut listing time to three days from six

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  • Digital world to create new, highly skilled jobs: Kant
  • Apple gives limited option to Trai for building DND app
  • 100 Indian firms have invested $17.9 bn in US
  • Non-farm activities contribute two-third income in rural areas: Paper
  • Steel Ministry urges FinMin to remove import duty on stainless steel scrap
  • Rupee surges 21 paise to end at 65.21 on falling crude prices
  • Airbus inks $50-bn deal to sell 430 planes to US firm Indigo Partners
  • HMT swings into black, logs Rs. 59 lakh profit in Q2
  • GSTN utility for exporters to claim refunds gets activated
  • Infibeam gets RBI nod, eyes B2B payment platform, GeM for big bucks
  • Crisil to acquire data analytics firm Pragmatix for ₹56 crore
  • NCLAT issues notice to RCom over Manipal Technologies ‘dues’
  • Sebi allows multilateral entities to issue securities in IFSC
  • Delhi to get BS-VI fuel two years early to tackle pollution
  • ONGC Videsh’s Q2 profit rises 15% to Rs280 crore on higher production
  • Value of India M&A deals in 2017 seen at $46.5 bn, $52.8 bn in 2019
  • Godrej Industries’s Q2 profit rises 53% to Rs95 crore
  • Airbus seals $50 billion jet deal to outdo Boeing in Dubai
  • Government wants new MRP on 200 goods amid GST change
  • Arun Jaitley on Singapore visit to attract investments
  • Efforts of Railways, CIL bring record growth in coal offtake
  • Finance Ministry asks PSBs to submit fund-raising roadmap in a month
  • PM asks Niti to study pulses, oilseeds for self-sufficiency
  • Tractor firms eye 15.5% sales growth
  • FMCG cos gear up to pass on tax reduction benefit to consumers
  • Advanced analytical tools help identify 3.71L undisclosed A/Cs
  • TCS bags 5-yr digital contract from Rolls



Issue Opens 14-Nov-17
Issue Closes 16-Nov-17
Issue Price 108/-
Lot Size 1200
Issue Size 17.11 cr
Lead Manager Guiness Corporate Advisors Private Limited
Registrar Bigshare Services Pvt Ltd
Platform NSE Emerge

Registered Office:

602, Avior, Nirmal Galaxy L.B.S. Marg, opp. Johnson & Johnson, Mulund (west) Mumbai- 400080

Promoters of the Company:


Profile of the Company :

We are a programmatic advertising Company that offers engaging and innovative advertising and monetization solutions which replaces the traditional methods of media buying and selling of advertisement. Our Company’s proprietary technology, advanced capabilities and programmatic platform is a highly scalable software platform that powers and optimizes the marketplace for the real-time trading of digital advertising inventory between advertisers and publishers. We call our platform as a “Ingenious Plex – The Complete Advertising and Monetization Suite”.

Our Ingenious Plex incorporates proprietary algorithms, sophisticated big-data storage and processing systems, detailed real-time analytics capability and a geographically distributed infrastructure. We analyze hundreds of data points in real time and execute over 10,00,000 (10 Lakh /1 Million) queries per second.

Object of the ISSUE :

1. Funding of working capital requirements of the Company.
2. Funding of working capital requirements of our Subsidiaries Vertoz Inc. and Vertoz Limited.
3. General Corporate Expenses
4. Issue Expenses



16-17 15-16
total Assets 1,637.80 494.9
tottal reveue 2,048.38 1,195.65
PAT 306.29 36.15
DEBT 406.34 30.66


Standalone: 558.18

Consolidated: 1081.21

P/E@ Standalone basis : 0.19

Consolidated : 0.07

For More Details Contact Here

Upcoming SME IPO_Silver Touch Technologies Limited


Issue Details

Issue opens 20th November 2017
Issue Closes 24th November 2017
Issue Price 121
Lot Size 1000
Issue Size 40.22 Crore
Lead Manager Chartered Capital And Investment Limited
Registrar Link Intime India Private Limited
Platform NSE

Promoters & Promoter Group

The Promoters group comprises of Mr. Vipul H Thakkar, Mr. Jignesh A Patel, Mr. Manish V Doshi and Mr. Palak V Shah.

Overview of Business

Company was founded in 1995 with a view to deliver our clients with the information technology solutions in the fields of System Integration and Software Services. It has grown with its global clientele and now it is into multiple areas like System Integration & Software Development. Company is providing all end to end information and communication technology solution to its clients under a single umbrella.

Object of the ISSUE

The company will not receive any proceeds from the offer and all proceeds from the offer shall go to the selling Share holders . The total expenses of the offer are estimated to be approx 51 Lakh.

Overview of Financials

(Rs. in Lakhs)
Particulars 2016-17 2015-16 2014-15 2013-14 2012-13
Total Revenue 11987.35 13905.03 11585.17 10869.57 8086.28
Total Asset 7488.17 10598.91 8434.14 7680.3 5450.07
 Net Profits 420.89 300.1 211.32 602.99 461.4

Financial Ratios 

  1. EPS : 3.76 ( Standalone Basis) , 3.62 ( Consolidated basis)
  2. PE Ratio: 32.18
  3. RONW: 11.07%( Standalone Basis) , 10.86%( Consolidated basis)
  4. NAV per Share: 32.02 ( Standalone Basis) , 31.98 ( Consolidated basis)

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UPCOMING SME IPO_ Pulz Electronics Ltd

SME IPO : Pulz Electronics Ltd

Issue Opens 14-Nov-17
Issue Closes 17-Nov-17
Issue Price 51-54
Lot Size 2000
Issue Size 3.92 cr
Lead Manager Sarthi Capital Advisors Pvt Ltd
Registrar Bigshare Services Pvt Ltd
Platform NSE Emerge

Registered Address:

46 Satish Mukherjee Road, Kolkata- 700026, West Bengal, India

Corporate Address:

Kailashpati, 2nd Floor, Plot No. 10A, Veera Desai Road, Andheri (West), Mumbai-400053, Maharashtra, India

Promoters of The Company:

  • Mr. Anirvan Partha Ghose
  • Mr. Ramakrishnan Krishnaraju Manden Kattil

Company Profile:

We develop and manufacture high quality audio system and solution that capitalize on the emergence of new Co-Axial technology and line array based speaker systems for the cinema, Pro Audio, Studio and Home Audio Industries such as Co-Axial Surround Speaker, Hi Power and in wall Subwoofers, Hi Power Co-Axial Speakers etc.We have a manufacturing facilities base built over 40,000 sq ft. in the outskirts of Mumbai at Palghar, along with a large warehousing facility which is well stocked with off-the-shelf pulz products which enables ultra-fast turnaround times for projects that require equipment at a shorter notice.

Object of the Issue:

  • Acquisitions and Other Strategic Initiatives
  • General Corporate Purpose
  • Issue Expenses.

Financials Summary:

16-17 15-16 14-15 13-14 12-13
total Assets 1,148.25 896.56 938.16 912.35 487.35
tottal reveue 1,384.98 1,307.03 1,190.54 925.75 530.26
PAT 134.03 30.1 0.9 10.45 20.78
DEBT 151.62 169.73 154.91 219.29 11.74

Basic EPS : 6.70

Weighted Average EPS: 3.86

Return on Net worth: 35.00%

Net Asset Value Per Share: 19.15

P/E @ share issued : 7.61

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