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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:
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.
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.
Crude oil price is trading at a nine-month high after declining in last week US crude inventory data and showing optimistic views over the coronavirus relief package in the US. However, upside movement is controlled due to the increase in Gasoline Inventory and lower fuel demand.
U.S. West Texas Intermediate (WTI) crude oil futures shined by 25 cents, 0.46%, from $47.62 to $ 47.84 a barrel. Brent Crude Future rose by 32 cents, or 0.63%, from %50.76 to $51.08. Both benchmarks are trading near nine months high, which is high near early march.
Also, on Wednesday the US Fed announces that the interest rate will remain unchanged, which is 0.25% and in addition adds a stimulus package to boost the relief in Coronavirus and unemployment.
At the same time due to a boost in logistics and e-commerce driven trucking and transportation diesel consumption increased, which is signalling a positive strength to the petroleum market. Higher diesel prices are adding more profits for refineries from processing a barrel of light crude to fuel.
Meanwhile, the oil market outlook is mixed as increased gasoline inventory and lower fuel demand is showing some pressure, while at the same time declining US crude inventory and stimulus relief are adding positive strength in the market.
Similarly, on a technical chart MCX Crude Oil price has shifted above the 138.2% Fibonacci Retracement price extension level 3479 and 100 days SMA’s level 3476, which will act as immediate support levels for the counter. An indicator RSI(14) is moving above level 60, which has witnessed bullish sentiments in the counter for the short term. On the other hand, the price may face resistance near 3750-3770, which is above near 200 points from CMP, which means crude oil price has more upside strength till 3700.
Mrs Bectors Food Specialities Ltd was founded by Mrs Rajni Bector and promoted by Mr Anoop Bector which was incorporated in 1995, Mrs Bectors Food Specialities Ltd is one of the leading companies in the premium and mid-premium biscuits segment and the premium bakery segment in North India.
Mrs Bectors Food Specialities Ltd manufactures and markets a wide range of biscuits such as cookies, creams, crackers, digestives and glucose under the flagship brand ‘Mrs. Bector’s Cremica’. Mrs Bectors Food Specialities Ltd also manufactures and markets bakery products in savoury and sweet categories which include loaves of bread, buns, pizza bases and cakes under the brand ‘English Oven’.
Mrs Bectors Food Specialities Ltd supplies products to retail consumers in 26 states within India, as well as to reputed institutional customers with pan-India presence and to 64 countries across six continents during the Financial Year ended March 31, 2020.
‘Mrs. Bector’s Cremica’ is one of the leading biscuit brands in the premium and mid-premium segment in Punjab, Himachal Pradesh, Jammu and Kashmir and Ladakh and ‘English Oven’ is one of the largest selling brands in the premium bakery segment in Delhi NCR, Mumbai and Bengaluru.
We are the largest supplier of buns in India to reputed QSR chains such as Burger King India Limited, Connaught Plaza Restaurants Private Limited, Hardcastle Restaurants Private Limited, and Yum! Restaurants (India) Private Limited.
Mrs Bectors products are manufactured in-house at six manufacturing facilities located in Phillaur and Rajpura (Punjab), Tahliwal (Himachal Pradesh), Greater Noida (Uttar Pradesh), Khopoli (Maharashtra) and Bengaluru (Karnataka), which enables them to have effective control over the manufacturing process and to ensure consistent quality of our products.
Manufacturing facilities are strategically located in proximity to our target markets, which minimizes freight and logistics related to time and expenses.
IPO Opening Date15-Dec-20IPO Closing Date17-Dec-20Face Value₹10 per equity shareIPO Price₹286 to ₹288 per equity shareMarket Lot50 SharesIssue SizeAggregating up to ₹540.54 CrFresh IssueAggregating up to ₹40.54 CrOffer for SaleAggregating up to ₹500.00 CrRetail Allocation35%Listing AtBSE, NSETentative Listing Date28-Dec-20
The company will not receive any proceeds from OFS while the proceeds from the fresh issue will be utilized
FY2018FY2019FY2020H1 FY2021Revenue696786765439Expenses643735726387Net income36333038Net margin (%)5.24.23.98.8
Seeing the attraction in Burger King IPO and the outlook for QSR we expect that Mrs Bectors Food Specialities Ltd will be another attractive IPO for the investors. The fundamentals of the company don’t look good as of now as they have seen very slow growth in the last 3 years also debt have increased form 35 cr in 2017 to 85 cr in 2020.
The company is well-positioned in North India and has an opportunity to expand in the South and other parts of India. The company does not have any contract with the institutional customer which is the key risk for the company also bakery business has low entry barrier as it can be started with low investment.
However, the demand from the QSR chains will be a key beneficiary for the company. We recommend a SUBSCRIBE rating to the IPO only for the aggressive investors for listing gain and short term.
On September 27, India's President gave consent to three farm bills herein listed below:
As per this bill, farmers can enter into a written agreement for a specified period of time with companies and companies can customize the price, standard, and quality for the produce and other legalities in advance.
The new Marketplace law says that farmers can sell their produce anywhere – and not just in the APMC approved marketplace or mandis, they can sell it into not only their state but outside their state even online. Whereas state governments are prohibited from levying any market fee, cess, or levy outside APMC or Mandi areas.
This Act mainly controls and deals with the production, supply, and distribution of certain essential commodities. Companies and Supermarkets etc cannot accumulate the items listed in this act when there is a shortage and they can’t artificially increase the price.
The Farmers of UP, Haryana, and Punjab are upset with these bills and fear that this may be an excuse to pull off the MSP safety net from under their feet.
MSP stands for Minimum Support Price, It is the price lay down by the government to purchase crops from the farmers, whatever may be the market price for the crops. It is a significant part of India's agricultural price policy that assures the farmers about agricultural income before the sowing. MSP protects the farmers against excessive fall in price during bumper production years
Further State like Haryana & Punjab has vested interest of reduction in their state earnings as state governments are prohibited from levying any market fee, cess, or levy outside APMC or Mandi areas.
Haryana levies 2% Mandi Tax that goes to Mandi Board & 2% Rural Development cess that goes to state govt. whereas in Punjab it is 3% Mandi Tax and 3% rural development cess. Punjab is a smaller state and that earns Rs. 1700 crore in a year through rural development cess & Mandi tax. Besides this 2.5% commission agent also take home 2.% of the sale price.
So. these are some controversies on Farm Bills, Now let's see what comes out on round table conference between Farmer Unions and Centre.
Source:
https://www.indianeconomy.net/splclassroom/what-is-minimum-support-price/
National Stock Exchange of India Limited (NSE) has launched its first agricultural commodity futures contract for crude degummed soybean oil on December 1 having the trading symbol as DEGUMSOYOIL. The contract with the lot size of 10MT (metric ton) is having monthly expiry that will be settled in cash and Kandla will be held as price basis.
The contract will facilitate the soybean oils processing and allied industries in India and overseas, a perfect hedging tool for managing their price, the National Stock Exchange (NSE) said in a statement.
Vikram Limaye, MD and CEO of NSE, said the exchange is dedicated to deepening the Indian commodity markets by providing convenient and cost-effective onshore hedging products.
India is the largest importer of edible oils in the world. The futures contract will act as a perfect hedging tool for the soybean oils processing and allied industries in India and overseas to manage their price risks.
Basically, Crude Degummed Soybean Oil (CDSO) is produced from soybeans. Most of the free fatty acids and gums naturally present in soybeans are removed by mechanical, physical or sometimes chemical separation. The oil is then degummed for applications or consumption.
As we can see in NCDEX Soyabean Oil, Indore is the price basis, which does not clearly reflect the price dynamics of imported oil but focuses on domestic production whereas, in the new product of NSE CDSO having Kandla as price basis, it clearly reflects on the dynamics of imported oil as CDSO contract would be suitable for the role of benchmark for Indian Soyabean Oil.
Imported soyabean oil contribute to 2/3rd of India’s total soyabean oil supply, as almost 3/4th of total imports originate from Argentina, whereas half of the imports arrive at Kandla port.
The new contract of NSE CDSO will open up the gate for great trades, Arbitraging, Spread and Hedging opportunities.
Sources:
Gold is the most important and precious financial asset for Indians and worldwide. It is also considered a symbol of wealth and prosperity among Indians because their emotional sentiments are connected with this.
People think that gold is the best investment form to deal with Inflation and they can convert it to cash in case of emergency need of money, it also helps people to take as a Mortgage loan.
But while investing in gold so many points come in our mind that what are the factors which influence the prices of gold? So, below are some important factors which affect gold prices:
As it’s very clear for anything which is traded that demand and supply play a vital role in influencing the price of those instruments. Similarly, the demand and supply of Gold play an important role in determining its price. Although gold is not a consumable commodity like Oil, Copper, etc. Historically, Gold mined till date from mines is still available in the world. Also, the production of the gold from the mines is not too high and if in this situation demand will increase so definitely it will increase the prices of the gold. Due to COVID-19 gold mines were impacted all over the world due to lockdown. Mining production fell almost 3% in the first quarter of 2020 from 2015.
Central banks of the major economies (like the US, China, India, UK, Australia) hold Gold & currency as a part of their reserves for managing trade war and cash flows in their countries. In this kind of situation due to sheer volume either buying or sell by banks may derive the price of gold up or downside.
Since the contribution of India in world gold production is less than 1 per cent, but it’s the second-largest consumer of gold after China. So, it imports a huge amount of gold to fulfill demand. Therefore, Import Duty plays a crucial role to derive the gold price in India.
There is an inverse relation between gold prices and interest rates. If the interest goes up then people start selling gold to get it to liquidate and they take more cash in their hand on the other hand if the interest rate goes down so people start buying gold due to having more cash in their hand to get a good price appreciation of the yellow metals.
As gold is traded in US Dollar in the international market, therefore, when we import gold so all transactions are done in USD then there is a need to convert USD to INR, which fluctuates gold prices in India. If the INR starts depreciating it will make gold costlier and vice versa.
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