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Thursday, December 06, 2012
Grey Market Premiums - Bharti Infratel, CARE, PC Jewellers
Company Name
|
Offer Price
(Rs.)
|
Premium
(Rs.)
|
Kostak Price
Minimum
Application
|
Kostak
(Rs. 1 Lac
Application)
|
Kostak
(Rs. 2 Lac
Application)
|
230
|
20 to 22
|
--
|
--
|
--
| |
CARE
|
700 to 750
|
170 to 180
|
Rs. : 1050
Min. Application : 20 Shares
|
--
|
--
|
P. C.Jeweller
|
125 to 135
Rs. 5 Discount to Retailers
|
25 to 26
|
Rs. : 950
Min. Application : 90 Shares
|
--
|
--
|
BhartiInfratel
|
210 to 240
Rs. 10 Discount to Retailers
|
3 to 4
|
Rs. : 200
Min. Application : 50 Shares
|
1700
|
3400
|
CARE IPO Analysis
Credit Analysis and Research (Care) is the 2nd largest rating company in India by rating turnover. Promoted by major banks and financial institutions, its three largest shareholders are IDBI Bank, Canara bank and SBI. The company's main product is rating of debt instruments and bank loan facilities. With rating relationship with 4,644 clients, Care has significant rating coverage of Indian banks and financial institutions. Apart from rating, the company also provides specialized grading services including IPO grading, equity grading and grading various types of enterprises including energy service companies, renewable energy service companies, shipyards, maritime training institutes, construction companies, rating of real estate projects etc. The company has graded the largest number of IPOs since the introduction of IPO grading started in India.
Bharti Infratel IPO Analysis
Bharti Infratel's main business is to acquire, build, own and operate towers and related infrastructure and to provide access of its towers to wireless telecommunications service providers on a shared basis under long-term contracts. The company has 34,220 own towers in 11 telecom circles and 42% equity interest in Indus, which has about 1,10,561 towers in 15 telecom circles. Thus, on a consolidated basis the company operated in 22 telecom circles, with economic interest in 80,656 towers, in India end September 2012, making it one of the largest tower infrastructure providers in India. Bharti Airtel holds 86.1% stake in Bharti Infratel. Post IPO, the stake of the parent, which accounts for about 63% of the consolidated revenue, will come down to 79%. Bharti Airtel is not offloading any stake through the current offer for sale.
Markets may remain cautious at start
Today, it is likely to be a cautious opening for the Indian markets led by mixed global cues. SGX Nifty is also trading 7.50 points higher. Events for the day: Tara Jewels to list today. Stock in news: Shriram EPC bags $230 mn order in Iraq. United Bank of India raises Rs300 cr via perpetual bonds. ICICI Bank introduces flexible recurring deposit iWish.
Daily News Roundup - Dec 6 2012
Reliance Industries has sold its entire stake in an exploration block in Yemen to PT Medco Energi Internasional of Indonesia for US$90mn and has concluded the transaction. (ET) HDFC said a correction is unlikely in the runaway property prices in the metropolis, where the demand continues to be robust. (ET) The US’ Export-Import Bank has extended US$2.1bn credit to Reliance Industries to finance goods and services the Indian company will source from America for its new projects at Jamnagar. (ET)
Nifty re-conquers 5900…realty, metal stocks shine
The Indian stock market in India extended its upswing for the second consecutive trading session on Wednesday. The NSE Nifty index ended above the 5900 mark for the first time since April 2011 led by Realty, Metals, Oil & Gas, Banking and the PSU stocks. Even the Mid-Caps and the Small-Caps participated in today’s run. The market managed to register gains ahead of the voting for the FDI in Retail in the parliament. Even the service PMI index which expanded at slowest rate in 13 months was unable to dampen the sentiment. The HSBC India Composite Output Index posted 53.2 in November, slightly down from 53.5 in October, signalling a further improvement in activity at Indian private sector firms. Although solid, the rate of expansion was the slowest in 12 months. Manufacturing and services companies both recorded increases, although power shortages hampered manufacturing production.
Retail drama climbs to upper house
If I had to single out one element in my life that has made a difference for me, it would be a passion to compete. - Sam Walton The government’s decision to bring in foreign direct investment into the retail sector has technically got a clearance in the Lok Sabha. The action now shifts to the upper House, where the debate starts today; voting is expected on Friday. The going will not be really easy for the government in the Rajya Sabha as it lacks the requisite numbers here. The market is expected to be positive at start. Retail stocks will continue to hog the limelight. On the other hand Tech stocks have been a bit shaken after a routine regulatory filing by Cognizant indicated that company’s growth expectations are lowered.
Market seen opening higher; organised retailers in focus
Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 11.50 points at the opening bell. Market sentiment will be boosted as FDI in multi-brand retail got the approval of the Lok Sabha on Wednesday as the Opposition motion seeking immediate withdrawal of the decision was rejected convincingly. Asian stocks traded mostly higher Thursday, ahead of the European Central Bank (ECB) policy meeting later in the session.
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