Incorporated in 1986, Craftsman Automation Ltd is a leading engineering organization that is engaged in manufacturing precision components. The company designs, develops and manufactures a range of engineering products. It is one of the leading players in the machining of cylinder blocks for the tractor segment.
The business operates 3 key segments namely Automotive-Powertrain and others, Automotive-Aluminium Products, and Industrial and Engineering division that is engaged in manufacturing material handling equipment i.e. hoists, industrial gears, marine engines, crane kits, gearboxes, locomotive equipment, storage solutions, etc.
The company owns 12 state-of-the-art manufacturing facilities across 7 cities of India. Its customer base includes Tata Motors, Daimler India, Tata Cummins, Mahindra & Mahindra, Royal Enfield, Siemens, Escorts, Ashok Leyland, VE Commercial Vehicles, TAFE Motors & Tractors, etc.
Furthermore, it has two wholly-owned overseas subsidiaries, namely Craftsman Marine B.V. and Craftsman Automation Singapore Pte Limited. Craftsman Marine B.V. is engaged in the marketing, sales, and servicing of marine engines, engineering products and accessories for propulsion, manoeuvring and steering parts, storage, electronic instruments, deck equipment and spare parts for all the engines and other equipment used in yachts.
These products are manufactured and assembled by us in India and sold under the name “Craftsman Marine” by our subsidiary. Craftsman Automation Singapore Pte Limited, also set up in 2008 in Singapore, is its strategic sourcing centre for overseas procurement, primarily for procurement of aluminum ingots, which is one of its key raw materials.
The company has three business segments :
Automotive – Powertrain and Others segment include engine parts such as cylinder block and cylinder head, camshafts, transmission parts, gear box housings, turbo charges and bearing caps.
The Aluminium Products segment include crank case and cylinder blocks for two-wheelers, engine and structural parts for passenger vehicles and gearbox housing for a heavy commercial vehicle.
This segment can be divided into two sub-segments, namely, High-End Sub-Assembly, Contract Manufacturing & Others and Storage Solution & Material Handling.
IPO Details:
IPO DateMarch 15th, 2021 to March 17th, 2021Issue TypeBook Built Issue IPO Issue Size5528161 Eq Shares of ₹5(aggregating up to ₹823.70 Cr)Fresh Issue1,006,711 Eq Shares of ₹5(aggregating up to ₹150.00 Cr)Offer for Sale4,521,450 Eq Shares of ₹5(aggregating up to ₹673.70 Cr)Face ValueRs.5 per equity shareIPO PriceRs.1488 to Rs.1490 equity shareMin Order Quantity10Listing AtBSE, NSE
IPO Objective:
The company purposes to utilize funds towards the following objectives;
Financial Performance:
Craftsman Automation’s financial performance (in INR crore)FY2018FY2019FY2020H1 FY2021Revenue1,522.91,831.61,501.1536.5Expenses1,479.61,692.11,437.9526.1Net income25.687.841.75.6Net margin: (%)1.74.82.81.0
Tentative Time Table:
Craftsman Automation commenced its operations in 1986 in Coimbatore, in the State of Tamil Nadu, India. It is a diversified engineering company with vertically integrated manufacturing capabilities.
It is the largest player involved in the machining of cylinder blocks and cylinder heads in the medium and heavy commercial vehicles category. Craftsman owns and operates 11 strategically located manufacturing facilities across seven cities in India, with a total built-up area of over 1.5 million sq. ft.
The revenues of the company have been in a declining mode over the last three years. However, the key point to note is that over the last five years the auto sector has not done pretty well and we are seeing a turnaround in the industry after the lockdown and Craftsman automation is doing well since then.
Craftsman is the top 3-4 component manufacturers with respect to cylinder block matching in the case of the tractor industry, which is a very positive thing for the company and we expect things to do better form year.
At the upper price band of Rs. 1490 and 3 years average EPS of Rs. 28.95 the PE works out to be 51x as while current the PE of the industry is 60.7x. The valuations of the company look attractive at the current level and as the auto industry is expected to do well in the near future we may expect that company should do well too.
Anupam Rasayan India Limited is one of the leading companies engaged in the custom synthesis and manufacturing of specialty chemicals in India. The company started business as a partnership firm in 1984 as a manufacturer of conventional products.
Their business verticals are (i) life science-related specialty chemicals comprising products related to agrochemicals, personal care and pharmaceuticals, and (ii) other specialty chemicals, comprising specialty pigment and dyes, and polymer additives, company’s focus is to manufacture products with sustainability using our continuous process technology through flow chemistry and photochemistry, greater R&D and engineering capabilities to deliver values for customers for their complex and multi-step synthesis projects.
Green manufacturing and green growth have always been at the top of the agenda, they have developed new eco-friendly, safer and novel routes for many products. Most of these products have been introduced on an exclusive basis for their customers.
Certain of their facilities are ISO 9001:2015 and ISO 14001:2015 certified companies with sound technology, environment consciousness, rich history of innovation through research, and a total commitment to excellence towards quality and sustainability.
There are six manufacturing sites that are located in the state of Gujarat: 4 sites are in Sachin, Surat and 2 state of art sites are in Jhagadia, Gujarat.
The company’s products and services are organized primarily in the following segments:
RISKS RELATING TO BUSINESS
IPO Details:
IPO Date March 12th, 2021 to March 16th, 2021 Issue Type Book Built Issue IPO Issue Size Rs 760 Cr Fresh Issue 13693693 Equity Shares aggregating to Rs 760 Cr Offer for Sale NIL Face Value Rs.10 per equity share IPO Price Rs.553 to Rs.555 equity share Min Order Quantity 27 Listing At BSE, NSE
IPO Objective:
The net proceeds of the Issue, i.e. Gross proceeds of the Issue less the Issue expenses (“Net Proceeds”) are proposed to be utilized in the following manner:
Financial Performance:
FY2018FY2019FY20209M FY2021Revenue349.2521.0539.4563.2Expenses299.4455.2468.0496.4Net income40.149.351.247.1Net margin: (%)11.59.59.58.4
Tentative Time Table:
Anupam Rasayan commenced operations in 1984 as a partnership firm with conventional products and now it makes specialty chemicals that involve multi-step synthesis and complex chemistries.
The company’s R&D team has successfully carried out the multi-step synthesis and scale-up for several new molecules in the area of life sciences related specialty chemicals and other specialty chemicals, and as a result, expanded its commercialized product portfolio from 25 products in Fiscal 2018 to 34 products in Fiscal 2020 and 36 products in the six months September 30, 2020
The company’s total revenue has increased at a CAGR of 24.29% from Rs 3,49.1 Cr in FY18 to Rs 5,39.3 Cr in FY20 and was Rs 2,37.5 Cr and Rs 3,73.5Cr in the six months ended September 30, 2019, and 2020, respectively.
EBITDA for the year 2018, 2019, 2020 and the six months ended September 30, 2019 and 2020 was Rs 74.5 Cr, Rs 92.1 Cr, Rs 1,34.8Cr, Rs 57.5 Cr, Rs 77.4 Cr, respectively while its EBITDA margin was 21.82%, 18.38%, 25.51%, 24.55% and 21.79%, respectively, for similar periods.
Its profit after tax and share of profit of associates was Rs 41.3 Cr, Rs 49.2Cr, Rs 52.9 Cr, Rs 21.7 Cr and Rs 26.4 Cr for Fiscals 2018, 2019, 2020 and the six months ended September 30, 2019, and 2020, respectively, while it's PAT margin was 11.83%, 9.45%, 9.82%, 9.15% and 7.09%.
The company’s revenue and PAT have increased over the year but the margins have declined. At an upper price band of Rs 555 and EPS of 6.94, the PE comes out to be 79.97 which is higher than the PE of peers which is at 42.81.
Eyeing the growth of specialty chemical business we may expect to see a boost in revenue and profit. However, companies might have to work on the margin front. The company would be paying off debt by raising money from the IPO which will help in gaining the margins going further.
कीमती धातुओं के भाव मे मध्यवर्ती ट्रेंड की गिरावट जारी है। घरेलु वायदा मे सोने के भाव पिछले सप्ताह 1500 रुपय प्रति दस ग्राम तक टूट कर 44200 रुपय के निचले स्तरों को छू गए है।
चाँदी के भाव पिछले सप्ताह 3000 रुपय प्रति किलो तक टूट कर 65500 रुपय के स्तरों पर पहुंच चुके है। कॉमेक्स वायदा सोना और चाँदी मे पिछले सप्ताह क्रमशः 2.5 प्रतिशत तथा 4 प्रतिशत की गिरावट देखि गई है। डॉलर की तुलना मे रुपया 1.5 प्रतिशत तक सप्ताह मे मजबूत हुआ है।
अमेरिकी बॉन्ड यील्ड मे लगातार चार महीनों से तेज़ी जारी है। पिछले सप्ताह 10 वर्षो की बॉन्ड यील्ड 1.58 प्रतिशत के ऊपरी स्तरों को छू गई है। सोने के विपरीत दिशा मे चलने वाला डॉलर इंडेक्स सप्ताह मे 1.5 प्रतिशत मजबूत हो कर चार महीने की उचाई पर पहुंच गया है। केंद्रीय बैंक का ध्यान अब मुद्रास्फीति पर शिफ्ट होने लगा है। लेकिन, बढ़ती दरे और अर्थव्यवस्था मे सुधार सोने पर दबाव बना रही है।
इसी समय कोविड-19 टीकों के बड़े पैमाने पर लगने से वैश्विक सुधार की उम्मीद बढ़ी है जिससे निवेशकों को पारंपरिक सुरक्षित मांग से अन्य संपत्तियों में निवेश करने के लिए प्रेरित किया है। कुछ निवेशक स्पष्ट रूप से बिटकॉइन और डिजिटल संपत्ति को सोने मे निवेश के विकल्प के रूप में देख रहे है।
फ़ेडरल रिज़र्व के प्रमुख जेरोम पॉवेल के बयान के बाद कीमती धातुओं मे गिरावट बढ़ गई, पॉवेल ने लंबी अवधि की यील्ड बढ़त पर किसी तरह का जोर नहीं दिया जिससे, इनमे बढ़त कायम रही। उन्होंने कहा कि वह वित्तीय स्थितियों की निगरानी कर रहे हैं और बाजारों की अव्यवस्थित चाल पर विचार कर रहे है।
भारतीय गहनों की मांग दो दशक के निचले स्तरों से बढ़ना शुरू हुई है, जिसमें सोने की कीमतें मनोवैज्ञानिक रूप से महत्वपूर्ण स्तर 50,000 रुपये प्रति 10 ग्राम से नीचे आ गई है, जिसने पिछले साल भारत मे खरीदारों को सोने से दूर रखा था। सोने के भाव सस्ते होने से, चीन में सोना अब लंदन की कीमतों से प्रीमियम पर है, जो मांग में सुधार का एक और संकेत है। विकासशील देशो की बढ़ती आय और सोने की खदानों मे घटता उत्पादन लंबी अवधि मे मांग बढ़ा सकता है।
इस सप्ताह कीमती धातुओं के भाव मे बिकवाली का दबाव रह सकता है। सोने मे 43800 रुपय के निचले स्तरों पर सपोर्ट है तथा 45000 रुपय पर प्रतिरोध है। चाँदी के भाव मे भी मंदी रह सकती है। इसमें 64500 रुपय पर सपोर्ट और 67500 रुपय पर प्रतिरोध है।
Incorporated in 1999, MTAR Technologies is a leading national player in the precision engineering industry. The company is primarily engaged in the manufacturing of mission-critical precision components with close tolerance and in critical assemblies through its precision machining, assembly, specialized fabrication, testing, and quality control processes.
Since its inception, MTAR Technologies has significantly expanded its product portfolio including critical assemblies i.e. Liquid propulsion engines to GSLV Mark III, Base Shroud Assembly & Airframes for Agni Programs, Actuators for LCA, power units for fuel cells, Fuel machining head, Bridge & Column, Drive Mechanisms, Thimble Package, etc. A wide range of complex product portfolios meets the varied requirements of the Indian nuclear, Defense, and Space sector. ISRO, NPCIL, DRDO, Bloom Energy, Rafael, Elbit, etc. are some of the esteem clients.
Currently, the firm has 7 state-of-the-art manufacturing facilities in Hyderabad, Telangana that undertake precision machining, assembly, specialized fabrication, brazing and heat treatment, testing and quality control, and other specialized processes.
IPO Details:
IPO Date Mar 3, 2021 to Mar 5, 2021Issue Type Book Built Issue IPO Issue Size Equity Shares of Rs.10 totaling up to Rs. 596.41 Crore Fresh Issue Equity Shares of Rs.10 totaling up to Rs. 123.52croreOffer for Sale Equity Shares of Rs.10 totaling up to Rs.472.89 crore Face Value Rs.10 per equity share IPO Price Per Equity Share: Rs. 574-575 Min Order Quantity 26 Listing At BSE, NSE
IPO Objective :
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
Financial Performance:
Particulars For the year/period ended (₹ in million)31-Dec-2031-Mar-2031-Mar-1931-Mar-18 Total Assets3,819.143,462.713,051.582,810.32Total Revenue1,779.912,181.421,859.101,605.45Profit After Tax280.69313.18391.9954.23
Tentative Time Table:
IPO Opening Date: 3rd March 2021IPO Closing Date: 5th March 2021Finalisation of Basis of Allotment: 10th March 2021Initiation of refunds: 12th March 2021Transfer of shares to Demat account: 15th March 2021Listing Date: 16th March 2021
Hyderabad-based MTAR Technologies is a leading player in the precision-engineering industry develops and manufactures equipment for the defense, aerospace, clean energy, and nuclear energy sectors.
The company has long-standing relationships of over three to four decades with customers such as the Indian Space Research Organization (“ISRO”) and the Defense Research and Development Organization (“DRDO”), and have been able to supply specialized products to the Indian space programmes and the Indian missile programme, respectively.
The company’s aggregate Order Book as of November 30, 2020, was Rs.356 crores, comprising Order Book in the nuclear, space and defence, and clean energy sectors of Rs.93 crores, Rs.172 crores and Rs.86 crores respectively. These numbers signify the strength of the company. When it comes to Clean energy which is a boom these days, accounts for 64.34% of its revenues in FY2020 which also depicts its strong hold in the Clean energy sector.
The company is also focusing on its expansion plans and for the same, it is establishing an additional manufacturing facility at Adibatlaand in Hyderabad which is expected to become operational in Fiscal 2022.MTAR Technologies owns a large range of equipment, resulting in increased fixed costs.
When it comes to the financial performance of MTAR Technologies over the last three years highlights significant growth. The total revenue of the company showed a 3-year CAGR growth of 16.57%. Further, between 2018 and 2020, the profit after tax grew at a staggering CAGR of 14.39%. Also, the company’s total assets grew at a CAGR of 11%. The company’s Earnings Per Share is 11.11 and the Price to Earnings ratio stands at 51.75. As a niche player, the company is expected to gain fancy after the listing as it will be the first company to list in this segment.
As the COVID 19 cases had marked a considerable decline in the past few months, the active cases have been on the rise again and with Feb 21, registering new cases of 14,199. However, the cases had seen a sudden decline on Feb 16 with 9,121.
The spectacular fall in the COVID 19 cases for nearly five months, in the states that has shown a resurgence now, had led to a belief that the infection levels in the country had probably reached a new level where the effects of herd immunity had started to play out.
On Monday, the ministry reported 83 deaths with a total tally of over 1.56 lakh. This accounts for 1.42% of more than 1.1 crore coronavirus cases detected in India. Some states including Maharashtra, Kerala have been advised by the centre to increase the proportion of RT-PCR tests and regularly monitor mutant strains.
Maharashtra's government has announced renewed curbs in Pune and Amravati because fresh cases rose nearly up to 5000 per day in the country's worst-hit state.
After the sudden rise of COVID 19 cases, the restrictions have forced the stock market to go down, and with the BSE Sensex which was a little above 1,145 points (2.25 per cent) to close below 50,000 at 49, 744 on Feb 22. The Nifty settled below 14,700 level at close on the same day.
Although the testing rate had not dropped significantly, lockdown restrictions had been eased, festivals, elections had seen people coming out in multiple numbers, political activities had restarted, a farmers’ protest had been going on.
As the active cases of COVID 19 cases rose by 4,421, registering a three per cent increase in the active caseload back to the 1.5 lakh mark. However, the sheer rise has been marked since the beginning of November where there was an increment of 3.85 per cent in the COVID cases. The latest spike has come in Feb where the cases have been continuously rising in Maharashtra, Kerala, Punjab, Chhattisgarh, Madhya Pradesh.
Due to rising cases of COVID 19, the Central government and state government put restrictions in order to minimize the cases in the bud. In Maharashtra, the government has been putting a ban on social gatherings, night curfew in Amravati. Also, surveillance has been increased in the states (Maharashtra, Kerala) where the COVID cases are still rising.
In the last five days, the Sensex lost 2,400 points and there are certain factors responsible for the COVID 19 cases including the rise in the US, domestic bonds, yields, consequent fear of inflation and the rise in crude oil prices.
Recently, the petrol prices are still high i.e. Rs 100 per liter which in turn has triggered fears that the prices of other commodities may rise.
Although the COVID-19 cases and other factors may heavily impact the stock market, analysts attribute the current correction to the valuations. In the recent past, where the market has performed well despite having COVID-19 issues, the recent budget focused on triggering economic growth and the Capex cycle and an aggressive fiscal deficit of 9.5% for FY21 and 6.8% for FY22.
Foreign Institutional Investors continue to be bullish and have been net buyers worth Rs 23,875 crore till the Feb end. As per provisional data from NSE, the FIIs had turned net sellers offloading over Rs 893 crore.
According to Credit Suisse, a brokerage India has seen a net portfolio investment of $5.2 billion in January. The firm has upgraded its Indian equity market stance overnight from the earlier market weight and said the country was in good condition as compared to other economies in the world.
In India, the ten-year-old bond yield has risen for four straight sessions and closed at over 6 per cent on Monday. Now, all the analysts and trader’s eyeing RBI’s special open market operation worth Rs 10,000 crore where it will buy and sell simultaneously. Therefore, any RBI intervention to keep bond yield at or below 6% will be welcomed by equity markets.
As India announced its first-ever vaccine against COVID 19, India’s rate has been 3 lakh vaccinations per day but it is only a quarter of the 1.3 million vaccinations target per day. India had proved 11.8 million vaccinations nationwide as of February 22, the beginning of the drive.
Keeping this in mind, the central government has decided to increase the current rate to 5 million vaccines nearly in a day over the next month. It will be a welcoming move in controlling the fear of the second move.
The central government has further decided to involve the private sector in India’s vaccination efforts which in turn bring back the positive sentiments in the stock market. As per the sources of NITI aayog, the details of private privatization in the vaccine drive will be made available soon to buoy the market.
According to the experts, the rise in COVID 19 cases is not a uniform spread in the whole country as it can be the outcome of different testing protocols across the country. Also, it's not clear whether the rising cases of COVID 19 is the beginning of a second wave or not.
A Flitch reporting report has said the decline in the economic activities in the UK and France during the fourth quarter of 2020, were quite less, even though there were lockdowns there. India’s economy and the Indian’s stock market can take an idea from this report.
Even after the COVID 19, the stock market is likely to react positively and bounce back from Monday’s close on the back of private sector involvement in vaccinations, better containment of cases and other major factors such as sustained FII inflows, central bank interventions and more.
कीमती धातुओं के भाव में पिछले सप्ताह लगातार गिरावट होती रही, लगभग तीन महीनों में इसका न्यूनतम स्तर और नवंबर 2020 के बाद से इसमे सबसे गहरी मंदी वाला सप्ताह रहा है। अमेरिकी ट्रेजरी की पैदावार में लगातार होती बढ़त, सोने में निवेश की मांग कम कर रही है। अमेरिकी फ़ेडरल रिज़र्व के डॉलर प्रिंटिंग प्रेस धीरे होने के संकेत से, 10 साल की अमेरिकी ट्रेजरी की पैदावार ऊपर की ओर बढ़ रही है, और यह एक साल के शिखर के करीब है।
आर्थिक गतिविधियाँ बढ़ने से मुद्रास्फीति बढ़ने की सम्भावना है जिससे राहत पैकेज मे कमी की जा सकती है और कीमती धातुओं के भाव मे मंदी रह सकती है। डॉलर इंडेक्स में रुख तेज़ी का दिखाई पड़ता है। निवेशकों ने पिछले एक सप्ताह में अमेरिका के बेरोज़गारी दावों में अप्रत्याशित वृद्धि को पचाना जारी रखा है और कोवीड के नए मामले मे गिरावट, कीमती धातुओं के भाव मे दबाव बढ़ा रहे है।
इस बीच, गुरुवार को जारी स्विस कस्टम्स के आंकड़ों में कहा गया है कि भारत को मासिक सोने का निर्यात मई 2019 से अपने उच्चतम स्तर पर है, जबकि चीन और हांगकांग को निर्यात निचले स्तरों पर चल रहा है। पिछले सप्ताह घरेलु वायदा सोना 1400 रुपय टूट कर 46000 प्रति दस ग्राम के निचले स्तरों पर पहुंच गया है। चाँदी वायदा मे भी सप्ताह मे 1000 रुपय प्रति किलो तक की मंदी दर्ज की गई है और इसके भाव 68000 प्रति किलो के करीब रहे है।
घरेलु वायदा सोने मे कीमतें 50 दिन के साप्ताहिक औसत के नीचे आ चुकी है और 100 दिन का डेली औसत 200 दिन के डेली औसत के निचे पहुंच गई है जो सोने के भाव मे मंदी का संकेत देता है। सोने मे 47000 रुपय पर प्रतिरोध तथा 45500 पर सपोर्ट है। चाँदी मे 69500 रुपय पर प्रतिरोध और 67000 पर सपोर्ट है।
कीमती धातुओं के भाव मे निचले स्तरों से आया सुधार, सप्ताह के अंत तक नहीं टिक पाया और भाव मे बिकवाली का दबाव देखा गया। घरेलु वायदा सोना 48374 रुपय प्रति दस ग्राम के ऊपरी स्तरों को छूने के बाद 1000 रुपय टूट कर 47300 के स्तरों पर कारोबार किया। घरेलु वायदा चाँदी भी 70700 प्रति किलो के ऊपरी स्तरों को छूने के बाद, 2200 रुपय टूट कर 68500 रुपय पर पहुंच गई। हालांकि पिछले सप्ताह कीमतें सपाट रही है। डॉलर इंडेक्स में चार दिन की गिरावट के बाद गुरुवार को तेज़ी आई जिससे सोने में गिरावट रही।
सिल्वर इंस्टीट्यूट ने बुधवार को कहा कि चाँदी की वैश्विक मांग 2021 में बढ़कर 1.025 बिलियन औंस हो जाएगी, जो कि आठ साल में सबसे अधिक है, क्योंकि निवेशकों और उद्योग ने चाँदी की खरीद को बढ़ाया है। कोरोनोवायरस प्रकोप ने निवेशकों के बीच चाँदी के भंडार में तेजी ला दी है, जिसे सोने की तरह पारंपरिक रूप से धन संचय करने के लिए एक सुरक्षित निवेश के रूप में देखा जाता है।
सिल्वर इंस्टिट्यूट के मुताबिक बार और कॉइन की मांग 257 मिलियन औंस तक बढ़ने का अनुमान है। इंस्टिट्यूट ने औद्योगिक मांग मे पिछले साल की अपेक्षा 9 प्रतिशत वृद्धि का अनुमान लगाया है। लेकिन माइन से चाँदी की मांग की अपेक्षा आपूर्ति अधिक रहने का अनुमान भी है जिसमे सिल्वर ईटीएफ की मांग को शामिल नहीं किया है।
इस सप्ताह अप्रैल वायदा सोने के भाव सीमित दायरे मे रहने की संभावना है और इसमे 46700 रुपय के निचले स्तरों पर समर्थन तथा 47700 रुपय के ऊपरी स्तरों पर प्रतिरोध है। मार्च वायदा चाँदी के भाव मे हल्की तेज़ी रहने की सम्भावना है और इसमें 67000 रुपय पर समर्थन और 71000 रुपय पर प्रतिरोध है।
बुधवार को अमेरिका से जारी होने वाले रीटेल सेल्स और फ़ेडरल रिज़र्व की बैठक प्रमुख है।
Dixon Technologies India Pvt Ltd has progressed into something past electronic manufacturing service (EMS) association. Settled in Noida, Dixon is the greatest Indian EMS provider, focused on conveying top-notch practical arrangements in the homegrown buyer gadgets, lighting, set-top boxes (STBs) and home machines spaces. The differentiated item portfolio fuses:
It has 10 collecting units in Noida, Dehradun, and Tirupati, similarly to the greatest TV, garments washer, and bulb get together plants in India. The association is recorded on BSE and NSE since its first offer of stock in 2017 It is one of just a small bunch not many Indian EMS players with full-scale capacities in the thin plan, overall procurement, turnkey gathering, coordinated and strong back-end support. Dixon is a completely coordinated start to finish item and arrangement suite to unique gear producers Overseers of Dixon Innovations (India) restricted are Manoj Maheshwari, Poornima Shenoy, Sunil Vachani, Keng Tsung Kuo, Atul Behari Lall, Manuji Zarabi.
The leading body of Dixon technologies endorsed stock split under which the organization will give five offers for every one held. The board affirmed that the subdivision/stock split of existing face Value Portion of the assumed worth of Rs. 10/ - each completely settled up into 5 (Five) face Value Portions of Rs. 2/ - each completely settled up, subject to shareholders approval, Dixon shares were exchanging 5% higher at 15850 in late exchange. The association said the stock split will "empower more broad help of little theorists and to update the liquidity of the value shares at the securities exchange."
Very good news for retail investors. Dixon Technologies Approves Stock Split In 1:5 Ratio Finally it will have more liquidity. In a 1:5 split, shareholders get one share for every 5 old shares. So after a 1:5 split, for example, a stockholder with 16000 shares will open his account screen to find that he now holds 3705.
Dixon foresees that the cycle should be complete in 2-3 months, including the time required for support of the speculators. In the quarter completed December 31, 2020, its incomes jumped 120% to 2,182 crores while net advantage overflowed to 62 crores, a bounce of 134% when it stood out from a comparative quarter of the prior year.
Shares of Dixon Technologies (India) Ltd last traded in BSE at Rs.15172.25 as compared to the previous close of Rs. 14129.9. The total number of shares traded during the day was 14428 in over 6707 trades. The stock hit an intraday high of Rs. 15450 and intraday low of 14191.8. The net turnover during the day stood at Rs. 214673763.
Dixon Technologies has a very strong client base like Xiaomi, Samsung, Voltas, LG, Flipkart and Foxconn. The company also has plans to hold investor meetings with ICICI Prudential, Motilal Oswal AMC, and others.
The organization's consolidated net arrangements for the year completed in 2017 (FY 2017) expanded 77% to Rs 2456.76 crore. The deals of lighting division expanded by 28% to Rs 550.80 crore, customer equipment by 10% to Rs 844.54 crore, home machines by 44% to Rs 188.03 crore, invert calculated by 60% to Rs 62.69 crore and mobiles phones more than 999% to Rs 810.71 crore. The OPM decreased by 50 bps to 3.7%. The net advantage after a bit of accomplice and MI have expanded by 18% to Rs 50.38 crore. At the lower value band of Rs 1760 for each worth part of Rs 10 expected worth, the P/E works out to 39.6 times the FY2017 joined EPS of Rs 44.5 (on post-Initial public contribution esteem) and at the upper band of Rs 1766, P/E works out to 39.7 times FY2017 consolidated EPS of Rs 44.5 (on post-Initial public contribution esteem).
Dixon Innovations shares experienced an important advancement as the bits of the association hit another week high of Rs 12,538.7 on the BSE against a condition of 275 in the convention of S&P BSE Sensex.
The supplies of the association will have a Capex of Rs 125-150 crore in 2021. Its revenue remains at 3,680.70 crores (US$520 million) (2020) Also, its Operating income Stands at 177.51 crores (US$25 million) (2020)
According to RBI, Indian banks’ bad loans could rise sharply by September, the highest in more than 22 years, creating a risk to the broader economy. The gross bad loans on bank balance sheets could rise to 14.8% as compared with the previous year which was 7.5% in September 2019.
In the worst-case scenario, the gross bad loans could rise to 14.8% - by the end of the second quarter of FY 2021-2022.
As per the assessment done by RBI, gross NPA has been consistently decreasing over the last two years, with the number at 7.5% in July-September 2020.
Under the worst stress scenario, RBI has marked a 7.6% contraction in the six months to March 31. As per the stress test conducted for the banks, the regulators observe three scenarios for the gross domestic product growth where 0% growth is counted as a baseline scenario, -2.1% as medium stress, and -7.6% as large stress.
The stress test was introduced by RBI in order to assure the bank's asset quality. Such tests tell the economic impairment latent in bank portfolios, with an aim for capital planning.
Among the large sectors, whether it is an industry, agriculture, asset quality has been improved noticeably, in September 2020 over March 2020, with a decline in gross NPA and stressed advance ratios.
Amongst the top 100 borrowers, the asset quality trends have been positive for the banking system. However, because of the moratorium on repayments that ended on 31 August, the standstill on asset classification and restructuring of loan accounts, the data on fresh loan impairments reported by banks may not reflect the true state of assets.
Shaktikanta Das, the governor of India, reiterated that the banks can face balance sheet impairment and capital shortfall once regulatory reliefs are rolled back. Further, he also said that liquidity and financing conditions have helped banks to improve their performance to a greater extent.
Earlier, RBI’s stress testing models have been criticized by numerous experts. Soumya Kanti Ghosh, chief economic advisor, State Bank of India mentioned that RBI’s stress testing methods could have a significant upward bias.
RBI’s stress testing models came with several disclaimers considering the uncertainty regarding the unfolded economic outlook and the extent debt recast benefits, the ratios are very sensitive to change.
RBI had allowed banks to reallocate loans for borrowers whose cash flow has been badly affected by Covid and allowed such loans to be relaxed despite their repayment norms being relaxed.
The capital adequacy ratio is expected to drop from 15.6% in September 2020, to 14% in September 2021 under the baseline scenario and to 12.5% under the several scenarios, the RBI said.
The stress test results indicate four banks may fail to catch up the minimum capital level by September 2021, under the baseline scenario, without factoring in any capital infusion by stakeholders.
It is expected that the common equity tier I of scheduled banks may be reduced from 12.4% to 10.8 % under the baseline scenario.
To sum up .. the banking system’s capital base may be able to withstand the stress coming from the COVID 19 pandemic, some individual banks are required to support through phase-wise capital infusion, the RBI said.
We have noticed many regulatory changes in the mutual fund industry in the upcoming year, which is about to end soon. In an attempt to make mutual funds more transparent for traders and investors, SEBI came up with some changes which will remain applicable in the new year 2021.
Here is a list of changes that will come into effect in Jan 2021.
1. Changes in portfolio allocation rules for multi-cap funds:
SEBI announced portfolio allocation rules for multi-cap mutual fund schemes. As per the new rules made by SEBI, a mutual fund scheme will have to invest at least 75% in equities and equity-related investments. In addition to this, the schemes will have to invest in a minimum of 25% each in small-cap, mid-cap and large-cap stocks. At present, there is no such restriction allocation and therefore fund managers are allowed to invest in the mid-cap as per their own choice.
All mutual fund houses were given time till 31 January 2021, to comply with the fresh rules, within the one month from the date of publishing the next lists of stocks by AMFI. Following concern in the industry, the SEBI later introduced a new mutual fund category called flex cap fund, which is required to invest at 65% of the corpus in equity without any restrictions on investing in small-cap, mid-cap or large-cap funds. Some AMCs have already reclassified their multi-cap schemes as Flexi cap category to avoid any portfolio changes.
2. Changes in NAV Calculation
From January 1, 2021, mutual fund investors will get the purchase NAV of the day, when investors’ money reaches the AMC, irrespective of the size of investments. This NAV rule will be applicable only for those funds which are available for utilization irrespective of the name and size of the application.
Under the prevailing rules, the NAV of the date of purchase is considered for the purchase of less than Rs 2 lakh, even if the money does not reach the AMC, but the order is placed within the cut off time.
3. Inter Scheme Transfer of Securities
According to the sources, inter scheme transfer (IST) of debt papers can only be done within 3 business days of the allotment of the schemes’ units and after three business days, such transfer will not be allowed. Under prevailing rules, SEBI only requires that such IST be done at the market prices.
From January 1, 2021, inter scheme transfer in closed-ended funds can be done within 3 business days as the scheme transfers involve shifting of debt papers from one mutual fund scheme to another.
Moreover, SEBI also specified that such ISTs be done only at the market places and no ISTs shall be allowed if there is any negative market news or rumours in the mainstream media.
4. Renaming the dividend option
From April 1, 2021, mutual fund schemes comprising all the dividend schemes will be renamed as income distribution cum capital withdrawal options.
5.New Riskometer Tool
SEBI introduces a new category of mutual fund schemes on its riskometer tool for investors to make better decisions with high-risk mutual funds. Earlier, the model was simply based on the risk of the category without considering its actual portfolio. The new riskometer shall be evaluated every month and all schemes will be labelled for risks and funds.
SEBI is considering additional measures which are expected to be implemented with the mutual fund industry. Here are some of them:
रॉयटर्स सर्वे के मुताबिक, ओपेक के कच्चे तेल के उत्पादन में जनवरी महीने में प्रति दिन 160,000 बैरल प्रति दिन की वृद्धि हुई है क्योंकि ओपेक और गठबंधन 2021 के पहले महीने में उत्पादन में कटौती को कम कर रहा है। ओपेक के स्रोतों के अनुसार ओपेक का उत्पादन जनवरी में औसत 25.75 मिलियन बैरल प्रति दिन रहा, दिसंबर से 160,000 बैरल प्रति दिन और लगातार सातवें महीने में कार्टेल ने अपना उत्पादन बढ़ाया है।
जबकि उत्पादन में बढ़त पिछले महीने में अधिकांश लीबिया से है, जिसे ओपेक गठबंधन मे कटौती से छूट दी गई है। जनवरी में उत्पादन में वृद्धि आश्चर्यजनक नहीं है क्योकि ओपेक गठबंधन ने जनवरी में उत्पादन में 500,000 बैरल प्रति दिन जोड़ने का फैसला किया था।
पूरे समूह के लिए 500,000 बैरल प्रति दिन के कोटे में से, ओपेक की बढ़ी हुई उत्पादन की हिस्सेदारी लगभग 300,000 बैरल प्रति दिन है। इसलिए, जनवरी में उत्पादन की सबसे बड़ी वृद्धि क्रमशः ओपेक के नंबर एक और नंबर दो उत्पादकों, सऊदी अरब और इराक से हुई है, क्योंकि उनका उत्पादन मे हिस्सा अधिक है।
जनवरी में ओपेक के उत्पादन में तीसरा सबसे बड़ा इज़ाफा ईरान से आया है, जो लीबिया की तरह ओपेक गठबंधन की कटौती से मुक्त है। कच्चे तेल की कीमतों मे मांग कम होने की सम्भावना और उत्पादन अधिक होने से ऊपरी स्तरों पर दबाव है और नए कोवीड-19 वायरस महामारी को लंबे समय तक जारी रख सकता है, जिससे मांग घट सकती है।
इस सप्ताह फ़रवरी वायदा कच्चे तेल की कीमतों मे ऊपरी स्तरों पर दबाव रहने की सम्भावना है। इसमें 4025 रुपय के ऊपरी स्तरों पर प्रतिरोध एवं 3650 रुपय के निचले स्तरों पर सपोर्ट है।
Stove Kraft was originally incorporated in 1999. They are primarily involved in the manufacture of kitchen appliances, equipment and utensils. Stove Kraft is a kitchen solution and an emerging home solutions brand. Further, it is one of the leading brands for kitchen appliances in India and is one of the dominant players for pressure cookers and a market leader in the sale of free-standing hobs and cooktops.
Stove Kraft is engaged in the manufacture and retail of a wide and diverse suite of kitchen solutions under its Pigeon and Gilma brands and proposes to commence manufacturing of kitchen solutions under the BLACK + DECKER brand, covering the entire range of value, semi-premium and premium kitchen solutions, respectively.
Its kitchen solutions comprise of cookware and cooking appliances across its brands, and its home solutions comprise various household utilities, including consumer lighting, which not only enables it to be a one-stop-shop for kitchen and home solutions but also offer products at different pricing points to meet diverse customer requirements and aspirations.
The company has a strong distribution network as under the "Pigeon" brand, it has 651 distributors in 27 states and 5 union territories and 12 distributors for exports and under the "Gilima" brand, it has 65 stores across 4 states and 28 cities.
It not just distribute its products in the Indian market but also exports them to countries like the USA, Mexico, Kenya, Qatar, Sri Lanka, Fiji, Bahrain, Kuwait, etc. Stove Kraft has manufacturing facilities at Bengaluru (Karnataka) and Baddi (Himachal Pradesh).
All Pigeon and Gilima branded appliances are manufactured at its Bengaluru unit and the Baddi facility focuses on the Oil Company Business (OCB) to manufacture products like LPG stoves, inner lid cookers, etc.
Stove Krafts products are sold under three brands, viz. Pigeon, Gilma and BLACK + DECKER to cater to the value, semi-premium and premium customer segments, respectively. Set out below is a brief overview of the class of products retailed under each of the brands:
Pigeon, which is value for money brand, offers a wide array of products under various sub-categories. Set out below is an overview of the products currently offered by us under the Pigeon brand:
Some of the marquee innovative products, such as the Super Cooker, Infinity glass cooktops and Super Storm Advanced mixer grinder, are sold under the Pigeon brand. The Pigeon ‘super cooker’ is an innovative offering which provides the functionalities of straining, serving, induction cooking compatibility and non-stick, energy-efficient cooking in a single product.
Gilma brand, which focuses on the semi-premium customer segment, is sold exclusively through Gilma branded stores which are designed to offer the customer a modular kitchen experience. Currently, the Gilma portfolio comprises of chimneys, hobs and cooktops across price ranges and design offerings. We believe that our Gilma products combine premium design with effective performance, offered at a competitive price. While Gilma chimneys come built with higher suction power and a lifetime warranty, the hobs offer features such as anti-rust stainless steel body, energy efficiency and one-touch auto-ignition. Similarly, Gilma LPG stoves are designed keeping in mind thermal efficiency, durability and portability. Gilma LPG stoves use toughened glass and brass burners and come with a two-year warranty.
BLACK + DECKER is a renowned name internationally in the field of, inter alia, kitchen appliances. Presently, we offer the following products under the BLACK + DECKER brand, aimed at the premium segment of customers:
IPO Details:
Subscription Dates25 – 28 January 2021Price BandINR 384 – INR 385Fresh issueINR 95 croresOffer For SaleINR 317.63 croresTotal IPO sizeINR 412.63Minimum bid (lot size)38 SharesFace Value INR 10 per shareRetail Allocation10%Listing OnNSE, BSE
IPO Objective:
Financial Performance:
Financial performance (in INR crore)FY2018FY2019FY2020H1 FY2021Revenue534.6642.6672.9329.5Expenses547.1641.4669.4300.7Net income-11.70.92.930.1Margin (%)-2.20.10.49.1
IPO Tentative Time Table
21 Jan 2020: Price Band announced
22 Jan 2020: Anchor List
25 Jan 2021: Offer Opens
28 Jan 2021: Offer Closes
3 Feb 2021: Finalization of Basis of Allotment
3 Feb 2021: Unblocking of ASBA“
4 Dec 2020: Credit to Demat Accounts
5 Feb 2021: Listing on NSE & BSE
Eyeing the brand reorganization and their focus on the innovation of products to meet the needs of the customer we expect that the fundamental of the company will boost up. The company's revenue from operations stood at Rs 328.8 crore in the April-September 2020 period, up from 4.2 percent from the year earlier. Its net profit jumped to Rs 28.8 crore in the same period, against Rs 4.4 crore a year ago. Stove Kraft IPO is priced at 34.5x PE on a trailing basis while the PE of the industry is 46x. We assign a "Subscribe" rating only for listing gain.
Home First Finance Corporation was founded in 2010 based in Mumbai. The company is an affordable housing finance company. The company offers home loans to lower and middle class to buy homes. They also offer loans against property, developer finance to buy commercial properties as well.
The company has a diverse lead generation source channel including connectors, contractors, architects, affordable housing developers, and others. As on Sep 30, 2019, the business has a strong branch network of 65 branches across 60 districts in 11 different states and a union territory in India with a key presence in markets such as Maharashtra, Karnataka, Tamil Nadu, and Gujarat.
It offers quick and transparent loan transactions through its mobile app. As on Sep 30, 2019, it has serviced a total of 37,086 active loans. Its Gross Loan Assets have grown at a CAGR of 69.8% between FY2017 and FY2019 and increased from INR8,473.16 million as of 31 March 2017 to INR31,133.76 million as of 30 September 2019.
1) Technology-driven affordable housing company.
2) Strong penetration in the largest housing finance market.
3) Diversified lead source channel.
4) Sound fundamentals.
IPO Objective:
1) To augment a company's capital base to meet future capital requirements.
2) Listing benefits.
IPO Details:
Home First Finance IPO details
Subscription Dates
21 – 25 January 2021
Price Band
INR517 – 518 per share
Fresh issue
INR265 crore
Offer For Sale
INR888.72 crore
Total IPO size
INR1,153.72 crore
Minimum bid (lot size)
28 shares
Face Value
INR 2 per share
Retail Allocation
35%
Listing On
NSE, BSE
Tentative Timetable
19th Jan – Announcement of Price Band
20th Jan – Anchor Investors Allotment
21st Jan – Offer Opens
25th Jan – Offer Closes
29th Jan – Finalization of Basis of Allotment
01st Feb – Unblocking of ASBA Accounts
02nd Feb – Credit of Equity Shares to Depository Accounts
03rd Feb – Commencement of Trading
Financial Performance:
Home First Finance’s financial performance (in INR crore)
FY2018FY2019FY2020H1 FY2021Revenue134.2270.9419.7243.2Expenses110.0205.7312.4172.8Net income16.045.179.152.8Net margin (%)11.916.618.821.7
AUM of the company Stands around Rs 3700 cr while the net worth of the company is Rs. 988 cr. For the six months ended September 30, 2020 and the financial year 2020, it sanctioned 2,591 and 15,591 loans on account of leads generated through 887 and 2,553 connectors, respectively. At the upper price band of Rs 518, the issue is priced at a 4.1x P/BV ratio. The RoE and RoA of HFFC is 11% and 2.94% respectively.
Revenue of the company is increasing YoY with a strong strong increase of 150% in total assets. The profit of HFFC increased by 70% CAGR since 2018 with an increase in profit margins. Eying the growth in real estate, NBFC-Housing companies are expected to have a strong boost. We assign a "Subscribe" rating for listing gain and long term.
National Commodity & Derivatives Exchange Limited (NCDEX) will relaunch the Steel Futures contract on Monday, January 18, 2021, a release issued by the exchange said on Thursday.
Initially, contracts will be available for the months expiring in February 2021, March 2021 and April 2021. With this launch, the first in this year, NCDEX has re-entered the Non-Agri space expanding the bouquet of derivative products.
India is the 2nd largest steel producer in the world and it mainly caters to the Infrastructure and Construction industry. The major steel-producing states in India are Punjab, Chattisgarh, West Bengal, UP, Orissa and Gujarat.
The steel industry is the heart of global development. It is considered crucial for the development of the economy and is considered the backbone of human civilization.
The importance of steel to the economy can be further verified by the fact that level of per capita consumption of Steel is treated as an important index to measure the level of socioeconomic development and living standard of the people of a country. All major economies around the world have been largely shaped by the strength of their steel industry in their initial years of development.
Commenting on the launch, Vijay Kumar, MD & CEO, NCDEX, stated, “India is on the cusp of exponential growth in infrastructure sector due to government impetus on making the country a $5-trillion economy in the coming years. As a result, the consumption of steel is likely to take a quantum leap ahead.
As the price of steel is a major component of total cost in many infra-projects, developers find it difficult to manage the volatility in steel prices in absence of an appropriate hedging platform in the country. The steel contract being launched by us will provide these entities with a reliable and transparent risk management tool to hedge against volatile prices.”
Mr Kapil Dev, EVP & Head of Business & Products, NCDEX stated, “India’s steel consumption is probably going to develop at a lot sooner tempo as over Rs. 44 lakh crore value of initiatives is already being applied out of Rs. 111-lakh-crore National Infrastructure Pipeline (NIP).
Even the home manufacturing and exports are additionally on the rise at a brisk tempo. On the opposite hand, logistical and provide inefficiencies have made steel and its uncooked materials cost extraordinarily unstable posing challenges to the complete worth chain individuals. Because of this, having a steel futures contract at this level of time has an amazing utility for producers in addition to customers to handle their value dangers.’’
Indian Railway Finance Corporation known as IRFC is a finance arm of the Indian Railways. Incorporated in 1986, Indian Railway Finance Corporation (IRFC) is a public-sector enterprise that is wholly-owned by the Government of India.
The company is registered with the RBI as a systemically important NBFC and is classified under the category of an “Infrastructure Finance Company”. Its primary business is financing the acquisition of rolling stock assets, which includes both powered and unpowered vehicles, for example, locomotives, coaches, wagons, trucks, flats, electric multiple units, containers, cranes, trollies of all kinds and other items of rolling stock components as enumerated in the Standard Lease Agreement (collectively, “Rolling Stock Assets”), leasing of railway infrastructure assets and national projects of the Government of India (collectively, “Project Assets'') and lending to other entities under the Ministry of Railways, Government of India (“MoR”).
It follows a financial leasing model to finance rolling stock assets procurement for a lease period of 30 years. The key thing to note is in the last 30 years IRFC has zero NPA. In fiscal 2019, the actual capital expenditures by the Indian Railways were Rs. 1,334 billion, out of which, IRFC financed Rs. 525.35 bn accounting for 39.34% expenditures.
IRFC IPO is a main-board IPO of 1,782,069,000 equity shares of the face value of ₹10 aggregating up to ₹4,633.38 Crores of which Fresh Issue 11,88,04,60,000 Shares Equity Shares, aggregating up to Rs 3088.92 Crore Offer for Sale comprises: Up to 59,40,23,000 Equity Shares, aggregating up to Rs 1546.44 crore. The issue is priced at ₹25 to ₹26 per equity share.
The minimum order quantity is 575 Shares. The IPO opens on Jan 18, 2021, and closes on Jan 20, 2021. The shares are proposed to be listed on BSE, NSE.
IPO Objective:
Financial Performance:
FY2018FY2019FY2020H1 FY2021Revenue9,207.8010,987.4013,421.107,384.80Expenses6,675.908,232.0010,229.005,498.00Net income2,002.302,140.103,191.501,887.30Margin (%)21.719.523.825.6
Tentative Time Table:
The market cap @26/share on listing day will be around 33000 crores and it is going to enter the top 100 large-cap company list. IRFC operates on a unique business model, quite contrasting to REC/PFC. Whatever price they borrow from the market, while financing to MoR, they provide it with a 40 basis point margin.
For railway companies, the margin is 150 basis points. Eyeing the budget it is expected that IRFC may get further orders from the railways as the government is planning to run 150 private trains. However, if the government doesn't fix IRFC as the only NBFC for Railways, IRFC may lose its monopoly. We recommend a "Subscribe" rating only for the long term.
वैश्विक बाजारों में, मजबूत अमेरिकी डॉलर और बढ़ती बॉन्ड उपज के बीच सोनाऔर चाँदी के भाव मे गिरावट दर्ज की गई है। लेकिन, अमेरिका के आने वाले राष्ट्रपति जो बिडेन प्रशासन के तहत अतिरिक्त अमेरिकी राजकोषीय प्रोत्साहन की उम्मीद से कीमती धातुओं को सपोर्ट मिला हुआ है।
अमेरिकी 10-वर्षीय बॉन्ड यील्ड 1% से ऊपर के स्तरों पर पहुंच गई है और डॉलर इंडेक्स मे निचले स्तरों से उछाल देखा गया है। एक मजबूत डॉलर अन्य मुद्राओं के धारकों के लिए सोने को अधिक महंगा बनाता है , जबकि उच्च बांड उपज गैर-ब्याज उपज वाले सोने को धारण करने की अवसर लागत को बढ़ाती है जिससे कीमती धातुओं के भाव मे गिरावट आई है।
अमेरिकी 10 साल की बॉन्ड यील्ड 1% को पार कर गई है, जो अमेरिकी अर्थव्यवस्था के लिए बेहतर आउटलुक के साथ-साथ उच्च मुद्रास्फीति और ब्याज दरों में सुधार को दर्शाती है। वैक्सीन आने से भी सोने के भाव पर दबाव जारी है। अमेरिकी राष्ट्रपति-चुनाव मे जीत के बाद, जो बाईडन के पास अब कांग्रेस का पूर्ण नियंत्रण है साथ ही, अमेरिकी सीनेट मे भी अपनी पार्टी की जगह बना ली है।
फेडरल रिजर्व बैंक ऑफ क्लीवलैंड के अध्यक्ष लोरेटा मेस्टर ने कहा कि उन्हें विश्वास नहीं है कि बिडेन के तहत राजकोषीय प्रोत्साहन का अर्थ 2021 में मौद्रिक नीति पर नियंत्रण होगा। शिकागो के फेड अध्यक्ष चार्ल्स इवांस और अटलांटा के राफेल बेस्टिक सहित अन्य फेड अधिकारियों ने कहा है कि वर्ष 2021 के अंत से पहले केंद्रीय बैंक की चल रही परिसंपत्ति खरीद की गति को कम करने में समर्थन करना चाहिए और अर्थव्यवस्था को मजबूती से वापस बढ़ना चाहिए।
इस सप्ताह फ़रवरी वायदा सोने के भाव सीमित दायरे मे रह सकते है और इसमे 49600 रुपय के निचले स्तरों पर समर्थन तथा 51000 रुपय के ऊपरी स्तरों पर प्रतिरोध है। चाँदी मार्च वायदा के भाव सीमित दायरे मे रहने की सम्भावना है और इसमें 67000 रुपय पर समर्थन और 70000 रुपय पर प्रतिरोध है।
Disinvestment is defined as the action of an organization (or the government) usually central and state selling or liquidating an asset or subsidiary.
It is known by other names such as ‘divestment’ or ‘divestiture.’
In the wake of the economic policy known as 'liberalization, privatization, globalization ' in the 1990s, the Indian government then began to divest its stake in public-sector companies, which further helped the center trim its fiscal deficits.
Governments would often sell stakes in public sector companies in order to raise revenue. In recent times, the central government would use this route to make up for the loss-making ventures and then increase the non-tax revenues.
The National Democratic Alliance government has made some strategic disinvestment in key PSUs like Bharat aluminum company and Hindustan zinc, Indian petrochemicals corporation limited, and VSNL.
Under Narendra Modi, the NDA tried retiring government debt as mostly 41-45% of the centre’s revenue receipts would go towards the repayment of public debt or interest so the government decided to exceed its divestment target of 2017-18, after failure to retire the debt of Air India.
This could have been possible by the method of strategic cross-divestment which can be defined as one PSU buying a stake in another, helping the government to raise revenues but keeping the company's control over itself.
The following are the main objectives of disinvestment
Disinvestment can be done in the following ways
The new industrial policy of 1991, introduced along with other economic reforms, discussed the disinvestment and privatization of PSUs. The government's disinvestment policy stated that
The listing of all the unlisted PSUs would then sell a minimum of 25 percent of equity to the public.
The sale of Air India and its subsidiaries was not able to attract a single bid in 2018-19.
Dipam and the civil aviation ministry will again go for it in 2019-20.
Dipam and the ministry of tourism will be making a deal that will be placed in front of the cabinet committee on economic affairs in 2019-20.
By December 2019 the government is also looking to find a potential operator for its hospitality property, Hotel Ashok.
Some of the IPOs that will face disinvestment are Telecommunications Consultants India, Railtel corporation India, national seed corporation Kudremukh Iron Ore Company, Garden Reach Shipbuilders, and IRCTC.
To achieve high returns over a short period, many investors prefer to do trading over other investing strategies as it helps them to get maximum investment benefits. There is a lot of trading experience and guidance is required to achieve a high return and hence most investors prefer to take a stock broker’s advice before investing in any stock.
To trade successfully in equity trading, it is compulsory to open a trading account with any stockbroking firm. Well, when it comes to the top stockbrokers who offer subsequently low brokerage rates with quality advisory services, then Swastika comes second to none. Swastika not only provides regular follow up calls but also quality customer services that leave the user satisfied.
If you are a newbie who often gets confused with trading terminologies, you come to the right place. Swastika’s learning courses will help you to get a deep insight into stock’s and their investment methods.
Let's understand what an Equity Trading Account is and how we successfully create Demat accounts.
Equity trading accounts are required to trade any financial securities. This account involves purchasing and selling of shares within a single account, which is known as Demat account or dematerialized account.
Equity trading account opening involves signing up for trading and Demat accounts. Both the accounts can be interlinked to your savings account for the transferring of funds.
A trading account lets you successfully trade in the Indian stock market. After opening a Demat account and trading account, you will get a unique identification number (UID).
A Demat account enables you to buy/sell and hold financial securities that too in a dematerialized form. Earlier, shares used to trade physically, however with the arrival of the Demat account, many problems have been resolved.
There are bountiful benefits of opening an Equity Trading Account:
Accessibility is such an important concept here and therefore it is suggested to go for an equity trading account that has accessibility to all the stock exchanges across the country.
Imagine you are in the middle of trading and often face multiple transaction issues such as transferring amounts. It not only creates hurdles in your transactions but also decreases the mode of trading.
Step 1:
You are required to choose a DP for your account.
Step 2:
The next step is to fill the account opening form for Demat and trading accounts.
Step 3:
Photo Id proof is required such as PAN card/ Voter ID card/ Passport.
Step 4:
Financial proof is required such as ITR acknowledgment, a copy of annual accounts and more.
Step 5:
Once you cleared all the above steps, you will receive Demat and Trading Accounts.
Stock trading is something that provides you with high returns too with a short period. Although there are multiple financial securities investors can invest their amount such as government bonds, debts, certificates of deposits. These securities give less return as compared to the stock market.
With Swastika’s equity trading account, you can seamlessly perform stock market operations. Swastika’s trading tips and recommendations will also help you to get the best stocks to invest in.
The National Stock Exchange and Bombay Stock Exchange are open on the weekdays from Monday to Friday and are closed on Saturday and Sunday. Here is the complete list of all trading holidays for NSE and BSE.
HolidaysDay DateRepublic Day Tuesday26 January 2021Mahashivratri Thursday11 March, 2021HoliMonday29 March, 2021Good FridayFriday02 April, 2021Dr. Babasaheb Ambedkar JayantiWednesday14 April, 2021Ram NavamiWednesday21 April, 2021Eid-Ul-Fitr (Ramzan Id)Thursday13 May, 2021Bakri IdWednesday21 July, 2021Muharram Thursday19 August, 2021Ganesh Chaturthi Friday10 September, 2021DussehraFriday15 October, 2021Diwali * Laxmi PoojaThursday04 November, 2021Diwali BalipratipadaFriday05 November, 2021Guru Nanak JayantiFriday19 November, 2021
For BSE India, Muhurat Trading shall be held on 04 November 2021 (Diwali - Laxmi Pujan). The time of Muhurat Trading shall be notified subsequently. The exchange may change any of the above holidays, for which a separate circular shall be issued in advance.
Holidays DayDateMorning SessionEvening SessionNew Year DayFriday01 January, 2021OpenClosedMahashivratriThursday11 March, 2021ClosedOpenHoliMonday29 March, 2021ClosedOpenGood FridayFriday02 April, 2021ClosedClosedDr. Babasaheb Ambedkar Jayanti Wednesday14 April, 2021ClosedOpenRam NavamiWednesday21 April, 2021ClosedOpenEid-Ul-Fitr (Ramzan Id)Thursday 25 May, 2021ClosedOpenDiwali - Laxmi PujaThursday04 November 2021ClosedOpenDiwali - BalipratipadaMonday05 November, 2021ClosedOpenGuru Nanak JayantiMonday30 November, 2021ClosedOpen
HolidaysDayDateMahavir JayantiSunday25 April, 2021Maharashtra DaySaturday01 May, 2021Independence DaySunday15 August, 2021Mahatma Gandhi JayantiSaturday02 October, 2021ChristmasSunday25 December, 2021
The list of National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for 2021 includes all the national holidays and regional public holidays. The above information is important for those willing to trade financial instruments through the stock exchange.
NSE and BSE have five working days a week i.e Monday to Friday. However, During Muhurat Trading (if Diwali falls on a weekend), certain platforms can remain open for a specific period of time.
Swastika Investmart is known for its analysis and proficiency in identifying the right company valuation and help startups and SMEs to go public with the right company valuation. With the state of the art methodologies and 29 years of unmatched market expertise in business valuation services, Swastika helps the associated patrons, stakeholders, promoters and potential investors in getting the best company valuation when businesses are struggling to perform, thereby providing a fair business valuation to the company and thereby strengthening investor’s confidence.
Swastika’s company valuation pedagogy includes:
Strengthening the company’s valuation
Providing Financial advice for SMEs
Merchant Loan Syndication
Apart from that, Swastika has successfully launched various IPO’s including Sharika enterprises, Zodiac energy limited, Innovana Thinklabs ltd and more.
Whenever a company decides to grow, it realizes IPO to raise its capital. With raising capital, they may be able to purchase additional property, equipment, R&D.
Besides, they can generate new potential customers who are ready to invest in their company. Swastika’s IPO valuation services will give you a clear picture of the IPO.
For instance, the company assists you in selecting the right IPO valuation methods, how the value of IPO share prices are determined in the stock market, Pre IPO valuation and more.
Business valuation is the dire need of any business, whether it is small, medium or large. Without having a proper assessment, you can't determine the value of a business.
It is recommended that every business owner should have its company valuation as it allows you to get a real understanding of your company. It can be performed with the help of asset’s values, a company’s cash flows.
Measuring the business valuation of a company can tell you about the present growth of your company.
Swastika’s business value services give you complete support regarding business valuation services. It will give you a clear assessment of your company’s value. Besides, you can plan your business growth in future as well.
One of the main purposes of company valuation is to sell the product of the business and increase its brand awareness. Other purposes are negotiation and improving business performance, assisting founders in evaluating companies.
At Swastika, you will get quality business valuation services at minimum prices. Besides, you will get a complete analysis of company valuation along with the past and present reports.
A detailed analysis will help you get a thorough knowledge of business valuation with the valuation of capital investments, the value of capitalization, the value of capital investments and more.
Valuation of a business is the first step in securing capital. If you are borrowing a good amount of capital for your business, the lender, on the other hand, definitely wants to know about the existing leverages in your company. With the aid of Swastika’s company valuation services, you will get genuine tips regarding company valuation, capital investments and securing capital for your business.
1. A better understanding of a company’s assets
For a business owner, it is important to find out the detailed assessment of the business assets because, with financial figures, you will get a clear understanding of how much you can reinvest into the company.
2. Obtaining accurate company value
Obtaining a company value is important because it helps you to know about the preservation of money, growth, the future value of the business, and future development of businesses.
Company valuation is important for any business as it helps to determine the company’s financial worth. Other benefits of assessing a company's valuation include market capitalization, fundraise, analysis of asset’s value, reverse cash flows and more.
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Issued in the interest of investors: Prevent Unauthorised transactions in your trading and Demat account. Update your mobile numbers/email IDs with Swastika Investmart Ltd.. Receive alerts and information of all debit and other important transactions in your trading and Demat account directly from Exchange/Depository on your mobile/email at the end of the day. KYC is a onetime exercise while dealing in securities markets. Once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary. For any grievances or queries related to Swastika Investmart Ltd., please drop an email at compliance@swastika.co.in. To see the investor charter : NSDL- https://nsdl.co.in/publications/investor_charter.php, CDSL- https://www.cdslindia.com/Investors/InvestorCharter.html , NSDL- report-mktmanipulation@nsdl.com . You can also register your complaint with NSE - https://investorhelpline.nseindia.com/NICEPLUS/, BSE - is@bseindia.com, MCX - grievance@mcxindia.com, NCDEX - ig@ncdex.com, SEBI - https://scores.sebi.gov.in/scores/Welcome.html. Benefits of SEBI SCORES - effective communication, speedy redressal of the grievances.“
Attention Investors
.......... Issued in the interest of Investors"
Note: Standard warning- “Investment in securities market are subject to market risks, read all the related documents carefully before investing"
RISK DISCLOSURES ON DERIVATIVES.
Source: SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.
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