Morning Business News Round Up_Jan 18, 2018

HUL Q3 profit jumps 28% YoY to Rs 1,326 crore

Direct tax mop-up jumps 19% to Rs 6.89L cr this fiscal

PFRDA relaxes withdrawal norms under NPS

Satyam case: PWC moves SAT against SEBI ban

India to auction 55 oil and gas exploration blocks

Bitcoin slumps to $10,000, half its peak price

Sri Sri’s FMCG brand Tattva to open 1000 stores

Centre mulls permitting 100% foreign investment in private banks

JFE-JSW, ArcelorMittal, Vedanta to bid for Bhushan Steel

RITES files draft papers with Sebi to raise Rs 6 billion via IPO

Jubilant Life Sciences Q3 net surges 80% to Rs 2.12 bn on robust sales

Ashok Leyland signs pact with Israel-based Phinergy for electric CVs

BofA Q4 net slumps on $2.9-bn tax charge, adjusted income beats estimates

Govt cuts 2017/18 additional market borrowings to Rs 20K cr

Adani group to invest Rs.750 cr in West Bengal

JB Chemicals & Pharma gets European GMP approval for Gujarat facility

Huge opportunity to export LNG to India, China: IEA chief

India to be $5 trillion economy in 8-9 years: Suresh Prabhu

Govt to auction 55 oil, gas exploration blocks on Thursday

Tata group hires EY to explore sale of oil and gas business

Amalgamation scheme: Tata Power shareholders meet on 19 February

Sensex crosses 35000 as govt moves to contain fiscal deficit

Srei reports 56% jump in Q3 net profit at Rs105 crore

Amber Enterprises IPO fully subscribed on Day 1

Sugar processors undermine margins to meet payments to cane farmers

Fitch downgrades outlook on Adani Transmission to negative

Xiaomi claims responsibility of WhatsApp obsolete error problem

Bharti Infratel Q3 net profit drops 6% to Rs 585 crore

Trai to meet telcos on January 23 to chart out 2018 agenda

Morning Business News Round Up_Jan 15, 2018

 

Min panel’s proposal to end MAT on SEZs under review

C Sivasankaran warns of ?action? against Cyrus Mistry

Arun Jaitley launches India?s 1st agro options contract

Cairn India to invest Rs 37K cr to ramp up production

Govt’s new audit clause may give Big 4 a serious jolt

Auto firms to report robust profit growth in Q3

Rails supplied to railways are defect free, says SAIL

NPA disclosure rules: Sebi keen on implementing a revised proposal

Govt working on new schemes for next foreign trade policy to boost exports

Finished steel exports surge 29% in Dec; imports slip 26%

Govt to auction over 9,400 ‘enemy’ properties worth Rs 1tn

P-notes investment declines from Rs 1.31 trn to Rs 1.28 trn in November

Significant competition ahead from pvt sector: CIL chairman

SEBI permits voluntary exit of two exchanges

GDP growth not justifiable unless benefits reach farmers:FM

Doing business rankings based on hard data: World Bank

Vedanta urges govt to resolve retrospective tax issues

Nine of 10 most valued firms add Rs.66,619 cr in m-cap

SEBI plans rules for uniform pricing of corporate bonds

Bitcoin fever hits US real estate market

WEF ranks India 30th on global manufacturing index, Japan tops

Govt may drop proposal on self-reporting of income estimates, tax payments

Gold prices hit 7-week high on global cues

HDFC to raise Rs11,104 crore from investors including GIC, KKR

Govt plans review of functioning of independent directors

Facebook might lose $23 bn after announcing changes to News Feed

India needs more inclusive, active social policies, says economist Jean Dreze

Housing and Urban Affairs Ministry seeks three-fold hike in Budget allocation

 

Morning Business News Round Up_Jan 11, 2018

 

Price Waterhouse gets 2-year ban in Satyam case

India, China remain fastest growth economies: Moody’s

FDI norms in airlines, retail, construction eased

NCLT nod to start insolvency against Bhushan Energy

Department of Telecom defers meeting on call drops

Resolution of 12 large NPA accounts by month-end: SBI

CJI recuses from hearing pleas on Aircel-Maxis deal

PM, economists brainstorm on ways to revive growth

Larger PSBs to get bigger pie of recapitalisation bonds, says Fitch

Sebi forms special internal team working on relaxation for IBC companies

JSW Steel posts record crude steel output at 4.11 MT in Sept-Dec period

Reforms to slowdown in 2018 ahead of Lok Sabha polls: Moody’s

NMDC retail portion OFS fully subscribed; govt to fetch Rs 12 billion

Tata Motors global sales up 23% in December

Apex court asks Jaiprakash Associates to file list of ongoing housing projects

BSE, NSE to launch new IRF contracts from today

Cabinet approves closure of Tungabhadra Steel Products

SC keeps ban on Jaiprakash Associates asset sales

 

India to be fastest growing economy again in 2018: World Bank

Tata Chemicals gets shareholders? nod for Haldia unit sale

Telecom Commission favours raising spectrum holding limit

Apollo Micro Systems IPO subscribed 2.14 times on Day 1

Bank of Baroda is said to seek unit sale to bolster capital

New home launches plunge 78 pct in 2017 from 2010 peaks

Easing of FDI norm in realty brokerage to boost investment

HDFC Bank pegs GDP growth higher at 7.3% in FY19 on rural push

CAIT opposes 100% FDI in single brand retail via automatic route

Rlys raises freight rates after CIL?s price hike

UIDAI introduces ‘Virtual ID’ to address privacy concerns

Sony wants to be buyer in Media Consolidation

Software makers’ Q3 Profit to shrink on muted demand

Morning Business News Round Up_Jan 10, 2018

New industrial policy in few months: Suresh Prabhu

Telecom services cost may rise by 10%

CIL new pricing policy to be linked with quality

Spectrum holding cap set to be relaxed

 Jio price cut to delay telcos’ Arpu recovery in 2018

Crude oil rises above $68 for first time since May 2015

AI disinvestment process moving ‘expeditiously’: Govt

RBI’s first defaulter list: Liquidation value of steel firms at Rs 540 bn

Insolvency resolution: Vedanta, Tata Steel submit bids for Electrosteel

Sovereign wealth fund proposal back; may become holding company for assets

Essar in talks to sell its Equinox office to Brookfield for Rs 24 billion

Rs 6-trn direct tax collection rescues govt in fiscally difficult year

NMDC gets robust response for OFS

Wheat holding up to fog, ground frost; caution on pest attack

PM to commence Barmer refinery project next week: Pradhan

FMCG revenue seen rising 14.8% in Q3 on better rural demand

BIL Energy to turn ex-bonus on Thursday

Rural indicators point to worsening farm distress

Marks & Spencer seeks technology savings through TCS tie-up

Essar in talks with Brookfield to sell office buildings in Mumbai for Rs2, 400 crore

NCLT approves demerger of Emaar MGF

84 McDonald s restaurants in north, east India to reopen this week

Food bill: Unpaid subsidy may touch Rs 1.25 lakh crore

India mulls 70% safegaurd duty on solar equipment imports

Reliance Infrastructure moves MERC for sale approval of Mumbai power biz to ATL

Mexico inflation climbs at 16-1/2 year high, seen pressuring central bank

Nifty shows early signs of exhaustion

IOB defends decision to set off losses from share premium a/c

Coal India raises thermal coal prices to pay for salary rise

South Indian Bank Q3 net rises 3% to Rs 115 crore

Rs 6,000 cr Bharat-22 ETF round II fund raising likely in Feb

Forthcoming_IPO_ Apollo Micro Systems Limited

Apollo Micro Systems Limited IPO Detail

Issue Detail:

Issue Open Date

Jan  10th , 2018 Price Band :

Rs 270 – Rs 275

 

Issue Open Date

Jan 12th , 2018 Minimum Bid Qty :

50

 

Discount of Rs 12 is offered to RII and Employee.

Issue Structure: 50% QIB, 15% NII, and 35% Retail.

Objective :

The objects of the issue are:
1. To meet additional working capital requirement of the Company
2. General corporate purposes

 Business Description :

 Incorporated in 1997, Apollo Micro Systems Limited is Hyderabad based company engaged in the business of electronic, electro-mechanical, engineering designs, manufacturing and supply. Company design, develop and sell high-performance, mission and time critical solutions to Defense, Space and Home Land Security for Ministry of Defense, government controlled public sector undertakings and private sectors.

Apollo Micro Systems offers custom built COTS (Commercially off-the shelf) solutions based on specific requirements to defense and space customers. Company has participated in several Indigenous Missile programs, underwater electronic warfare, underwater missiles, surface to air missiles, nuclear missile programs, surface to surface missile programs, indigenous submarine programs UAV’s long and short endurance, ships, space programs.

Company’s manufacturing facility is located at Hyderabad.

Company Promoters:

Mr. Karunakar Reddy Baddam is the promoter of the company.

Company Financials:

Particulars For the year/period ended (in Rs. million)
 

31-Mar-17

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

31-Mar-13

 

Total Assets

2,458.57 2,029.58 1,347.19 849.16

458.1

 

Total Revenue

2,117.99 1,595.32 1,087.68 728.82

374.58

 
Profit After Tax 185.71 100.01 74.48 53.34

29.59

 

Company Contact Information :

Apollo Micro Systems Limited
Plot No 128/A, Road No. 12,
BEL Road, IDA Mallapur, Uppal Mandal,
Hyderabad– 500 076
Phone: +91 40 2716 7000
Fax: +91 40 2715 0820
Email: cs@apollo-micro.com
Website: http://apollo-micro.com/

IPO Registrar :

Bigshare Services Pvt. Ltd

E-2 & 3,

Ansa Industrial Estate, Saki-Vihar Road,

Sakinaka, Andheri(E), Mumbai – 400 072

Phone: 91-22-40430200

Fax: 91-22-2847 5207

Email: ipo@bigshareonline.com

Website: http://www.bigshareonline.com

IPO Lead Manager(s) :

  • Aryaman Financial Services limited

Morning Business News Round Up_Jan 8, 2018

Finmin asks PSBs to back stressed small businesses

Information technology sector may see muted Q3

Growth may be higher than CSO estimate of 2.1%’

US FDA may inspect Sun Pharma’s Halol site in Feb’

Insider trading: Orders against ex-MCX staff revoked

Equity MFs inflow at record Rs 1.3L crore in 2017

Chinese pharma firms may be blacklisted over quality

JSPL to raise Rs 10 bn via QIP in February: Naveen Jindal

Oil price hike shadow on govt, aviation industry

BSE to auction investment limits for Rs 66-bn govt bonds

Sheenlac Paints eyes takeover of JV with JNIL as latter enters NCLT

NPA crisis: 1,463 bad loan accounts owe PSU banks Rs 1 bn or more

Insolvency resolution: Sajjan Jindal’s JSW Steel may bid for Uttam Galva

NPCI plans to upgrade Unified Payments Interface

Centre readies PSUs for stake sale in FY19

Govt may opt for fiscal deficit range in Budget: ICRA

Farm growth may be higher than estimate

CBDT relaxes norms for MAT on firms facing insolvency

Essar’s AGC Networks to enter new markets

Q3 earnings likely to show first signs of revival

SBI reviewing minimum balance requirement, to make announcement soon

NACL Industries gets board approval to raise Rs3,000 crore

Paytm Payments Bank, IndusInd tie-up for fixed deposit facility

Aban Offshore promoters offer $600 million one-time settlement to lenders

Greater clarity needed in anti-profiteering rules:CII

Base effect lifts credit growth to 10.65 per cent in December

BSES launches rooftop solar single-point for apartment complexes

States asked to begin auction of 348 mining leases near expiry next year

UCO Bank willing to take 40-45% haircut to keep book free of NPAs, says MD

Strong lenders to get lions? share of Rs 80K cr recap bonds

Change in reporting methodology may hit MF performance

Markets Sentiment_06.01.2018

Markets started the year on a very tepid note. For the first few sessions it gave up a lot of ground. Low volumes and holiday season did not see much action. Sentiment although was buoyant owing to global conditions. Almost all global markets are at record highs. There is a global wave of bull run that has gripped all markets. Dow topped 25k, Nasdaq 7k. In Asia Nikkei scaled 1k points in 2 days. Hong Kong was at multi-decade high. Nifty rose a percent point in the week gone by. Sentiment in our own market is tepid but bullish. Close was very strong. A day’s correction was bought into. Midcaps are again on steroids.

Technically speaking Nifty is in a make or break level. If this close of 10550+ is sustained on a daily basis next week, we can expect a runaway gap till about 10600-700. There will be short covering and squeezing. Very short-term support stands at 10480. A trade below this level in the very short-term can drag the Nifty lower. A sustained close above 10550 will lead to the short-term floor shifting from 10k to 10.5k! Keep an eye on the volumes as they are bound to pick up next week as all participants become fully active.

Fundamentally multiples are still and continue to remain stretched. P/E. P/Bv you name them are at historical highs. There are no negative news flows. It almost seems to complacent the investing environment. One has to be very cautious in trading in the current environment. Some exogenous shock can drag the market lower. The only question is when? Having said that structural bull market remains intact. A healthy correction is still to be seen.

Sector Speak – Metals will continue their bull run. Keep an eye on metal stocks. Nifty Metals should continue to hit new highs. Nifty IT index is at a pivotal level. An upward break is expected as momentum is on the bull side. Keep an eye on Infosys. Nifty Bank continues to be weak. Unless a clean break above 26k is seen, avoid the stocks.

Morning Business News Round Up_Jan 4, 2018

India’s GDP growth to slip below 7% this fiscal

IBC’s objective not to emphasise on liquidation: NCLT

RIL likely to see big cash flow boost: CLSA

Parl panel suggests govt to form law on data privacy

Insolvency professionals can’t outsource work: IBBI

RBI puts Allahabad Bank under corrective action

Defence deals worth Rs 2.40 lakh cr signed in 4 yrs

Banks recapitalisation: Govt to infuse Rs 76 bn into six weak PSBs

Sebi allows commodity bourses to raise transaction charges

India cancels $500 mn defence deal, says Israeli arms firm Rafael

SBI-led consortium to give Rs 150-bn loan to 350 km Purvanchal Expressway

Future Group may buy Snapdeal’s logistics arm for Rs 500 mn: Sources

Dominion Energy to buy Scana Corp in $7.9-bn deal

Telecom policy draft eyes $100-b investment, sees India as global data hub

TRAI invites inputs on new telecom policy

NBCC bags contracts worth Rs. 315 cr

At 10.3 mt, sugar output up 26% in Oct-Dec

Rising costs, weak demand to hit profits of cement firms

Coal India e-auction fetches 76% premium in Q3 FY18

Fresh investments in India plunge to a 13-year low as stalled projects rise

Crude at 31-month high, oil marketing companies likely to be under pressure

Indian Bank revises interest rates for FCNR(B) deposits

Telcos may post weak Q3 on cut in interconnect usage charges

Arrow Electronics to buy Gujarat-based e Infochips

Niti Aayog?s three-point formula for India to beat China?s economic growth

India probes cheap synthetic rubber import from China

Financial inclusion drive must target the poor: RBI Governor D Subbarao

RBI may announce OMO purchase next week to cool yields

Revised concession pact for PPP projects at ports gets cabinet nod

Pak replaces dollar with yuan for bilateral trade with China

Valuation concerns shroud proposed ONGC-HPCL merger

Morning Business News Round Up_Jan 4, 2018

Morning Business News :

  • India’s GDP growth to slip below 7% this fiscal
  • IBC’s objective not to emphasise on liquidation: NCLT
  • RIL likely to see big cash flow boost: CLSA
  • Parl panel suggests govt to form law on data privacy
  • Insolvency professionals can’t outsource work: IBBI
  • RBI puts Allahabad Bank under corrective action
  • Defence deals worth Rs 2.40 lakh cr signed in 4 yrs
  • Banks recapitalisation: Govt to infuse Rs 76 bn into six weak PSBs
  • Sebi allows commodity bourses to raise transaction charges
  • India cancels $500 mn defence deal, says Israeli arms firm Rafael
  • SBI-led consortium to give Rs 150-bn loan to 350 km Purvanchal Expressway
  • Future Group may buy Snapdeal’s logistics arm for Rs 500 mn: Sources

Image result for Future Group may buy Snapdeal

  • Dominion Energy to buy Scana Corp in $7.9-bn deal
  • Telecom policy draft eyes $100-b investment, sees India as global data hub
  • TRAI invites inputs on new telecom policy
  • NBCC bags contracts worth Rs. 315 cr
  • At 10.3 mt, sugar output up 26% in Oct-Dec
  • Rising costs, weak demand to hit profits of cement firms
  • Coal India e-auction fetches 76% premium in Q3 FY18
  • Fresh investments in India plunge to a 13-year low as stalled projects rise
  • Crude at 31-month high, oil marketing companies likely to be under pressure
  • Indian Bank revises interest rates for FCNR(B) deposits
  • Telcos may post weak Q3 on cut in interconnect usage charges
  • Arrow Electronics to buy Gujarat-based eInfochips
  • Niti Aayog’s three-point formula for India to beat China’s economic growth
  • India probes cheap synthetic rubber import from China
  • Financial inclusion drive must target the poor: RBI Governor D Subbarao
  • RBI may announce OMO purchase next week to cool yields
  • Revised concession pact for PPP projects at ports gets cabinet nod
  • Pak replaces dollar with yuan for bilateral trade with China
  • Valuation concerns shroud proposed ONGC-HPCL merger

Morning Business News Round Up_Jan 3, 2018

Morning Business News :

  • Open to raising deposit insurance cap of Rs 1 L: FM
  • Govt notifies 1 per cent GST for composition scheme
  • No proposal of PSB merger under consideration: Govt
  • Reliance Industries completes $16-billion expansion
  • Bitcoin not a legal tender in India, says Arun Jaitley

Image result for Bitcoin

  • Rupee climbs to fresh 2.5-year high on sliding dollar
  • Gold imports surge 67% in 2017 on restocking
  • Parliament passes Insolvency & Bankruptcy Code Amendment Bill
  • Ruias plan to pay interest, penalty of Rs 35 bn to retain Essar Steel
  • RIL commissions world’s largest refinery off-gas cracker at Jamnagar
  • Prinicipal Financial to buy PNB’s minority stakes in JVs
  • Average aluminium prices to move up by $150 in 2018-19: Nalco CMD
  • ONGC makes significant oil, gas discovery in Arabian Sea
  • TRAI issues interconnectivity rules; fixes 30-day deadline for inking pacts
  • Tata Power commissions 50-MW solar plant in Karnataka
  • Political funding clean up: Electoral bonds scheme takes off
  • Lemon Tree Hotels gets SEBI’s nod for IPO
  • December PMI data signals revival in manufacturing, Indian economy
  • Sebi plan on loan defaults runs into RBI hurdle
  • RINL’s April-December turnover zooms to Rs11,405 crore
  • Bharatmala project may not be a game changer for cement demand
  • Sanjeev Gupta to acquire Glencore’s Tahmoor coal mine in Australia
  • Production of horti crops to hit all-time high
  • Parliament passes bill to raise Nabard’s capital to Rs 30,000 cr
  • Clean energy crosses 62 GW mark; solar over 16W, wind 32.7GW
  • Average traffic speed in top 7 cities drops by 3 kmph: Ola
  • US may stop H-1B visa extensions, send 750,000 Indians back home
  • Volkswagen India charts out growth path
  • MTM losses may require govt to frontload capital in PSBs
  • Banks to refer 25 accounts to NCLT