August 01, 2017 COCHIN SHIPYARD LIMITED. SMC Ranking (3/5) About the company. Issue Highlights. Competitive Strengths. Shareholding Pattern (%)

Size: px
Start display at page:

Download "August 01, 2017 COCHIN SHIPYARD LIMITED. SMC Ranking (3/5) About the company. Issue Highlights. Competitive Strengths. Shareholding Pattern (%)"

Transcription

1 COCHIN SHIPYARD LIMITED August 01, 2017 SMC Ranking (3/5) About the company Issue Highlights Industry Book Running Lead Manager SBI Capital Markets Limited Edelweiss Financial Services Limited JM Financial Institutional Securities Limited Name of the registrar Shipping Industry Total Issue (Shares) - Offer for sale 11,328,000 Total Issue (Shares) - Fresh Issue 22,656,000 Net Offer to the Public 33,984,000 Issue Size (Rs. Cr.) Price Band (Rs.) Retail Discount (on cut-off price) 5% Offer Date Close Date 1-Aug-17 3-Aug-17 Face Value 10 Lot Size 30 Issue Composition Total Issue for Sale 33,160,000 QIB 16,580,000 NIB 4,974,000 Retail 11,606,000 Shareholding Pattern (%) In shares Particulars Pre-issue Post issue Promoters & promoters group % 75.46% QIB 0.00% 12.27% NIB 0.00% 3.68% Retail 0.00% 8.59% Total % % *calculated on the upper price band Objects of the Issue Setting up of a new dry dock within the existing premises of our Company ( Dry Dock") Setting up of an international ship repair facility at Cochin Port Trust area ( ISRF") General corporate purposes Link Intime India Private Limited Incorporated in 1969, Cochin Shipyard Limited is one of the largest public sector shipyard company in India in terms of dock capacity. The company operates a shipyard that provides shipbuilding and ships/offshore structures repair services. Cochin Shipyard's shipbuilding activities include the construction of vessels for clients operating in the defense and in the commercial sector shipping industry. In addition to the shipbuilding and ship repair, it also offers marine engineering training programs as well as offer additional courses, including six months practical training for marine engineering students from colleges affiliated to universities, fire prevention and firefighting, and elementary first aid training through its marine engineering training institute; and chemical, mechanical, and non-destructive testing services of metals, welds, and alloys. It has built and delivered vessels across broad class ifications including bulk carriers, tankers, Platform Supply Vessels ( PSVs ), Anchor Handling Tug Supply vessels ( AHTSs ), barges, bollard pull tugs, passenger vessels and Fast Patrol Vessels ( FPVs ). At present, the company is building India's first Indigenous Aircraft Carrier ( IAC ) for the Indian Navy. Competitive Strengths One of India's leading public-sector shipyards catering to both commercial clients as well as clients engaged in the defence sector: Shipbuilding for clients engaged in the defence sector is complex and time -consuming, whereas commercial shipbuilding, while relatively less complex, is subject to business cycles. Catering to both commercial clients and clients engaged in the defence sector has helped the company to address these issues relatively better. It is currently building India's first IAC for the Indian Navy and has recently delivered the last FPV (in a series of 20) to the Indian Coast Guard prior to the delivery date. It has also built two of India s largest double hull oil tankers, each of 92,000 DWT (Source: CRISIL Report) for SCI and recently delivered a large deck cargo cum jacket launch barge for NPCC. The company has also recently completed refits of INS Aditya, INS Sukanya, INS Shardul, INS Viraat and INS Vikramaditya for the Indian Navy. It has also undertaken major revamping and refurbishing of oil rigs involving steel renewal, up-gradation of drilling, cementing, mechanical, HVAC and piping systems in almost all the major offshore vessels and rigs of ONGC. Its top customers include the Indian Navy and the Indian Coast Guard. These top two customers together accounted for 82.43%, 89.92% and 84.57% of its revenue from operations in Fiscals 2015, 2016 and 2017, respectively. Modern facilities and infrastructure and integrated capabilities to deliver quality products and services: The Company believes that the state of the art infrastructure and facilities available at its shipyard combined with its vast expertise give it a significant edge over the domestic peers. While its proposed Dry Dock project will be set up on its existing shipyard premises, the ISRF will be set up on land near its shipyard leased from the Cochin Port Trust ( CoPT ). Order book with a strong customer base of reputable ship owners and marquee clients: The Company has built a variety of vessels ranging from bulk carriers, tankers and passengers ships to offshore support vessels and port crafts. In the last five years, the company has built and delivered over 35 vessels to clients worldwide. The company is currently building India's first IAC for the Indian Navy. The company is also currently constructing two 500 passenger cum 150 ton cargo vessels and two 1200 passenger cum1000 ton cargo vessels for the A&N Administration and a vessel for one of GoI's projects. The company has also entered into special MoU arrangements to enhance its ship repair business. In Fiscal 2016, major repair works for commercial clients included work on the GTV Samudra Sarvekshak and the WSV Samudhra Nidhi for SCI, and on the Dredge VIII and Dredge XIX for the DCI and MV Kavaratti for LDCL. In the last Fiscal, it 1

2 believes its docks were running at full capacity due to which it had to turn away certain new requests. Competitive cost structure and efficient operations: It believes that it offers its clients competitive cost structures for their shipbuilding and ship repair needs. The company operates an efficient system of sub-contracting which aids multiple repair projects and production planning. Its shipyard is strategically located along the west coast of India, on the main sea route connecting the Persian. Gulf to Asia, and is approximately 610 nautical miles from Mumbai, a busy international maritime route that is conveniently located for ships travelling on this route in need of repair. In addition, its shipyard is located close to the offshore oil fields on the western coast of India and relatively close to the Middle East, which it believes, will be an advantage in tapping the offshore rig market. Due to its shipyard's proximity to the Kochi port, it is well-positioned to benefit from the port s infrastructure facilities such as its approach channel and navigation facilities. Continuous profits leading to robust financial performance: The Company has posted profits continuously in the last five Fiscals. Its total income and PAT (before other comprehensive income) have increased from Rs. 16, Cr and Rs Cr, respectively, in Fiscal 2015 to Rs. 22,08.50 Cr and Rs. 3,12.18 Cr, respectively, in Fiscal 2017 at a CAGR of 15.33%, and %, respectively. The strong liquidity position in terms of total cash and bank balance of Rs. 20, Cr as of June 30, 2017, enables the company to continue to stay invested in its business and to consistently pay its suppliers on time and benefit from supplier goodwill. The strength of the balance sheet in terms of liquidity and indebtedness provides the company with a number of competitive advantages, such as lower finance costs and better financial terms for its future borrowing needs. As of June 30, 2017, the company had fund based indebtedness in the form of tax free infrastructure bonds amounting to `1, million (excluding interest due on these bonds). Expand its capabilities through its proposed Dry Dock and International Ship Repair Facility: The Company is in the process of developing its Dry Dock and International Ship Repair Facility (ISRF). Once developed, it believes that these new facilities will expand its existing capabilities significantly and help the company to build and repair a broader variety of vessels including new generation aircraft carriers and oil rigs, which are expected to be key growth drivers in the short to near long term. The process of setting up an ISRF will allow the company to undertake repair of a broader range of vessels. The company is also in the process of constructing a new dock, a stepped dry dock. Build a strong order book by bidding vigorously for projects to be awarded by the Indian PSUs and defence sector pursuant to Make in India initiative: The company believes it is wellpositioned to benefit from the recent Make in India initiative pursuant to which the GoI is keen to encourage defence manufacturing in India. As it is one of the very few commercial shipyards to have won defence orders from the Indian Navy and the Indian Coast Guard in the past, and have been able to deliver successfully on these mandates, it believes that it is well positioned to take advantage of future orders placed by the Indian Navy and other Indian PSUs. Also the GoI plans to promote inland water transportation and coastal shipping. It believes that this will present several opportunities including building high speed ferry crafts, dredgers, ropax vessels and large capacity passenger ships. This will create demand for shipbuilding and ship repair services, which it believes it is well equipped to deliver. Strategy Continue to enhance its construction quality and delivery time and enhance its price competitiveness in order to increase its market share: The Company believes that its emphasis on quality of construction and timely delivery has been a key factor in its ability to attract new customers and to retain its existing customers. With its in-house fabrication workshops, it intends to continue to develop in-house capabilities in various manufacturing processes, thereby enabling it to lower its costs of production and maintain its price competitiveness. It also believes its operations will benefit from its business partnerships with firms like GTT. Strengthen its market leadership by continuously adding upgraded and new vessel models to its offerings and expanding customer services: Leveraging its experience in building other vessels, the company plans to expand its product offerings. It believes that it is strong contenders for 2

3 building the next aircraft carrier for the Indian Navy, due to its unique experience in constructing such vessels. With this experience the company will also be able to bid for other defence projects. With the construction of its proposed Dry Dock and ISRF, the company will also be able to build and repair new vessel models. The company is well-positioned to follow the latest domestic and international standards for its new offerings. The company also plans to expand its operations to cover the entire life cycle of a broader range of vessels. Continue to leverage its market position and its relationships with customers, suppliers and other business partners to support its growth and improve its competitiveness: The company plans to use its leading position in the Indian shipbuilding and ship repair industry to develop new relationships with banks, suppliers, universities and colleges, technical schools, classification societies, ship design institutes, as well as companies in upstream and downstream, oil and offshore services industries, and to create a favourable environment for its sustainable development. The company plans to further strengthen its long-term cooperation with well-known universities, such as CUSAT, to jointly provide training, carry out research and development, and develop a potential workforce to support its future growth. The company has also set up a section for the preparation of basic designs to enhance its design capabilities and to cater to future design requirements. The company believes that these initiatives will also help it in attracting the best talent to Kochi by creating a network of shipbuilding and ship repair experts and helping Kochi to become as an important center for shipping and related businesses. Risk Factor The business is highly dependent on global economic conditions: Worldwide demand and pricing in the commercial shipbuilding industry are highly dependent upon global economic conditions. If the global economy fails to grow at an adequate pace, it may adversely impact the commercial shipbuilding industry which may negatively affect its business, financial condition and growth prospects Concentrated on single reason (Kerala): The entire business operations of the company is based out of a single shipyard at Kochi. The loss of, or shutdown of, its operations at its shipyard in Kochi will have a material adverse effect on its business, financial condition and results of operations. Business is subject to extensive government regulation: The business of the company is subject to extensive government regulation. In the case, if company fails to obtain, maintain or renew its statutory and regulatory licenses, permits and approvals required for its business, its results of operations and cash flows may be adversely affected. Dependency on the Cochin Port Trust ( CoPT ): The Company is dependent on the Cochin Port Trust ( CoPT ) for certain basic services required for daily operations. If its relationship with CoPT is negatively affected in any manner or if CoPT is unable to provide these services in the future, it may have an adverse impact on its operations. Industry Outlook According to a 2016 UNCTAD report, global seaborne trade increased by 2.1% to 10,048 million tonnes in In terms of a regional comparison, Asia was the largest loading and unloading region, followed by the Americas, Europe, Oceania and Africa. As of January 2016, the global commercial fleet stood at 90,917 vessels, totalling 1.8 billion DWT. Dry bulk carriers comprised the largest share at 43.1% followed by the oil tanker segment with a share of approximately 27.9%. The Indian commercial fleet saw an addition of 42 vessels with approximately 0.2 million GRT in In 2015, India s total fleet strength was 1,246 vessels with a GRT of million. The majority of the Indian fleet is deployed for costal trade, with approximately 70% of the registered vessels used for coastal trade, while the remaining 373 vessels are engaged in overseas trade. According to the Indian Ministry of Shipping, the total overseas cargo handled at Indian ports was approximately million tonnes in The vessels carrying Indian flags contributed approximately 7.5% of overseas cargo tonnage. Even as the total overseas cargo handled at Indian ports increased, the contribution of vessels carrying Indian flags in terms of tonnage declined in absolute terms as well as in percentage terms. Meanwhile, ships above the age of 20 years comprised over 40% of the Indian fleet, as ship owners preferred to maintain the existing fleet due to uncertainty in global trade. 3

4 However, approximately 20% of the ships in the Indian fleet are below the age of five years, indicating that new vessels have been added during the recent past. Peer comparison The peer companies given in the RHP are weak in performance; these companies continue to grapple with the grim business climate despite restructuring. Valuation Considering the P/E valuation on the upper end of the price band of Rs. 432, the stock is priced at pre issue P/E of 15.68x on its FY17 EPS of Rs Post issue, the stock is priced at a P/E of 18.70x on its EPS of Rs Looking at the P/B ratio at Rs. 432 the stock is priced at P/B ratio of 2.41x on the pre issue book value of Rs and on the post issue book value of Rs the P/B comes out to 1.94x. On the lower end of the price band of Rs.424 the stock is priced at pre issue P/E of 15.39x on its FY17 EPS of Rs Post issue, the stock is priced at a P/E of 18.35x on its EPS of Rs Looking at the P/B ratio at Rs. 424, the stock is priced at P/B ratio of 2.36 x on the pre issue book value of Rs and on the post issue book value of Rs , the P/B comes out to 1.91x. Outlook Cochin Shipyard Limited is well-positioned to benefit from the recent Make in India initiative pursuant to which the GoI is keen to encourage defence manufacturing in India. With robust order book, strong order inflow visibility, best-inclass execution capabilities and strong balance sheet, the company is expected to see modest growth going forward. Annexure Consolidated Financials Profit & Loss Rs. in Cr. Particulars Period ended 31-Mar-17 Period ended 31-Mar-16 Total Operating Income 2, , Total expenditure 1, , Operating Profit OPM% Other Income PBDIT Depreciation PBIT Interest PBT Tax PAT Balance sheet is on next page 4

5 Balance Sheet Rs. in Cr. Particulars As on 31-Mar-17 As on 31-Mar-16 Non-current assets (a) Property, Plant and Equipment (b) Capital work-in-progress (c) Intangible assets (d) Financial Assets (i) Investments (ii) Trade receivables (iii) Loans (iv) Other Financial assets (e) Income tax assets (net) (f) Deferred tax assets (net) (g) Other non-current assets Total Non- Current Assets Current assets (a) Inventories (b) Financial Assets (i) Trade receivables (ii) Cash and cash equivalents (iii) Bank balances other than (ii) above (iv) Loans (v) Other Financial assets (c) Current Tax Assets (Net) (d) Other current assets Total current assets Total Assets Non-current liabilities (a) Financial Liabilities (i) Borrowings (ii) Other financial liabilities (b) Provisions Total Current liabilities (a) Financial Liabilities (i) Trade payables (ii) Other financial liabilities (b) Other current liabilities (c) Provisions (d)current Tax Liabilities (Net) Total current liabilities Total NET Worth Net worth represented by: Equity Share capita Other Equity Net Worth

6 RANKING METHODOLOGY WEAK NEUTRAL FAIR GOOD EXCELLENT Corporate Office: 11/6B, Shanti Chamber, Pusa Road, New Delhi Tel: Mumbai Office: Lotus Corporate Park, A Wing 401 / 402, 4th Floor,Graham Firth Steel Compound, Off Western Express Highway, Jay Coach Signal, Goreagon (East) Mumbai Tel: , Fax: Kolkata Office: 18, Rabindra Sarani, Poddar Court,Gate No.- 4, 5th Floor, Kolkata Tel: , Fax: SMC Global Securities Ltd. (hereinafter referred to as SMC ) is regulated by the Securities and Exchange Board of India ( SEBI ) and is licensed to carry on the business of broking, depository services and related activities. SMC is a registered member of National Stock Exchange of India Limited, Bombay Stock Exchange Limited, MSEI (Metropolitan Stock Exchange of India Ltd) and M/s SMC Comtrade Ltd is a registered member of National Commodity and Derivative Exchange Limited and Multi Commodity Exchanges of India and other commodity exchanges in India. SMC is also registered as a Depository Participant with CDSL and NSDL. SMC s other associates are registered as Merchant Bankers, Portfolio Managers, NBFC with SEBI and Reserve Bank of India. It also has registration with AMFI as a Mutual Fund Distributor. SMC is a SEBI registered Research Analyst having registration number INH SMC or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for accessing /dealing in securities market. SMC or its associates or its Research Analyst or his relatives do not hold any financial interest in the subject company interest at the time of publication of this Report. SMC or its associates or its Research Analyst or his relatives do not hold any actual/beneficial ownership of more than 1% (one percent) in the subject company, at the end of the month immediately preceding the date of publication of this Report. SMC or its associates its Research Analyst or his relatives does not have any material conflict of interest at the time of publication of this Report. SMC or its associates/analyst has not received any compensation from the subject company covered by the Research Analyst during the past twelve months. The subject company has not been a client of SMC during the past twelve months. SMC or its associates has not received any compensation or other benefits from the subject company covered by analyst or third party in connection with the present Research Report. The Research Analyst has not served as an officer, director or employee of the subject company covered by him/her and SMC has not been engaged in the market making activity for the subject company covered by the Research Analyst in this report. The views expressed by the Research Analyst in this Report are based solely on information available publicly available/internal data/ other reliable sources believed to be true. SMC does not represent/ provide any warranty expressly or impliedly to the accuracy, contents or views expressed herein and investors are advised to independently evaluate the market conditions/risks involved before making any investment decision. The research analysts who have prepared this Report hereby certify that the views /opinions expressed in this Report are their personal independent views/opinions in respect of the subject company. Disclaimer: This Research Report is for the personal information of the authorized recipient and doesn't construe to be any investment, legal or taxation advice to the investor. It is only for private circulation and use. The Research Report is based upon information that we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied upon as such. No action is solicited on the basis of the contents of this Research Report. The Research Report should not be reproduced or redistributed to any other person(s)in any form without prior written permission of the SMC. The contents of this material are general and are neither comprehensive nor inclusive. Neither SMC nor any of its affiliates, associates, representatives, directors or employees shall be responsible for any loss or damage that may arise to any person due to any action taken on the basis of this Research Report. It does not constitute personal recommendations or take into account the particular investment objectives, financial situations or needs of an individual client or a corporate/s or any entity/s. All investments involve risk and past performance doesn't guarantee future results. The value of, and income from investments may vary because of the changes in the macro and micro factors given at a certain period of time. The person should use his/her own judgment while taking investment decisions. Please note that SMC its affiliates, Research Analyst, officers, directors, and employees, including persons involved in the preparation or issuance if this Research Report: (a) from time to time, may have long or short positions in, and buy or sell the securities thereof, of the subject company(ies) mentioned here in; or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the subject company(ies) discussed herein or may perform or seek to perform investment banking services for such company(ies) or act as advisor or lender/borrower to such subject company(ies); or (c) may have any other potential conflict of interest with respect to any recommendation and related information and opinions. All disputes shall be subject to the exclusive jurisdiction of Delhi High court. 6

July 24, 2018 HDFC ASSET MANAGEMENT COMPANY LIMITED. SMC Ranking (3.5/5) About the Company. Issue Highlights. Strength. Shareholding Pattern (%)

July 24, 2018 HDFC ASSET MANAGEMENT COMPANY LIMITED. SMC Ranking (3.5/5) About the Company. Issue Highlights. Strength. Shareholding Pattern (%) HDFC ASSET MANAGEMENT COMPANY LIMITED July 24, 2018 SMC Ranking (3.5/5) Issue Highlights Industry Mutual Fund Offer for sale (Shares) 25,457,555 Reservation Portions 3,280,000 Net Offer to the Public 22,177,555

More information

December 13, 2017 ASTRON PAPER AND BOARD MILLS LIMITED. SMC Ranking (1/5) About the Company. Issue Highlights. Strength. Shareholding Pattern (%)

December 13, 2017 ASTRON PAPER AND BOARD MILLS LIMITED. SMC Ranking (1/5) About the Company. Issue Highlights. Strength. Shareholding Pattern (%) ASTRON PAPER AND BOARD MILLS LIMITED December 13, 2017 SMC Ranking (1/5) Issue Highlights Industry Book Running Lead Manager Pantomath Capital Advisors Private Limited Name of the registrar PAPER INDUSTRY

More information

November 16, 2017 LARSEN & TOUBRO LIMITED. In Cr. Consolidated Results STOCK DATA VALUE PARAMETERS SHARE HOLDING PATTERN (%)

November 16, 2017 LARSEN & TOUBRO LIMITED. In Cr. Consolidated Results STOCK DATA VALUE PARAMETERS SHARE HOLDING PATTERN (%) LARSEN & TOUBRO LIMITED November 16, 2017 Current Price: `1207.80 STOCK DATA BSE Code 500510 NSE Symbol LT Reuters LART.BO Bloomberg LT IN VALUE PARAMETERS Price (Rs) 1207.80 52 W H/L(Rs) 1274.00/868.00

More information

March 20, 2018 MISHRA DHATU NIGAM LIMITED. SMC Ranking (2.5/5) About the Company. Issue Highlights. Strength. Shareholding Pattern (%)

March 20, 2018 MISHRA DHATU NIGAM LIMITED. SMC Ranking (2.5/5) About the Company. Issue Highlights. Strength. Shareholding Pattern (%) MISHRA DHATU NIGAM LIMITED March 20, 2018 SMC Ranking (2.5/5) Issue Highlights Industry Book Running Lead Manager IDBI Capital Markets & Securities Limited SBI Capital Markets Limited Name of the registrar

More information

January 09, 2018 APOLLO MICRO SYSTEMS LIMITED. SMC Ranking (2.5/5) About the Company. Issue Highlights. Strengths: Shareholding Pattern (%) Strategy

January 09, 2018 APOLLO MICRO SYSTEMS LIMITED. SMC Ranking (2.5/5) About the Company. Issue Highlights. Strengths: Shareholding Pattern (%) Strategy APOLLO MICRO SYSTEMS LIMITED January 09, 2018 SMC Ranking (2.5/5) Issue Highlights Industry Defense Total Issue (Shares) 5,672,727 Total Employee Reservation (Shares) 20,000 Net Offer to the Public 5,672,727

More information

October 24, 2017 RELIANCE NIPPON LIFE ASSET MANAGEMENT LIMITED. SMC Ranking (3/5) About the Company. Issue Highlights. Shareholding Pattern (%)

October 24, 2017 RELIANCE NIPPON LIFE ASSET MANAGEMENT LIMITED. SMC Ranking (3/5) About the Company. Issue Highlights. Shareholding Pattern (%) RELIANCE NIPPON LIFE ASSET MANAGEMENT LIMITED October 24, 2017 SMC Ranking (3/5) Issue Highlights Industry Mutual Fund Total Issue (Shares) - Offer for sale 36,720,000 Total Issue (Shares) - Fresh Issue

More information

September 21, 2018 GARDEN REACH SHIPBUILDERS & ENGINEERS LIMITED. SMC Ranking (2/5) About the Company. Issue Highlights. Strength

September 21, 2018 GARDEN REACH SHIPBUILDERS & ENGINEERS LIMITED. SMC Ranking (2/5) About the Company. Issue Highlights. Strength GARDEN REACH SHIPBUILDERS & ENGINEERS LIMITED September 21, 2018 SMC Ranking (2/5) Book Running Lead Manager Ÿ Ÿ Issue Highlights Industry IDBI Capital Markets & Securities Limited YES Securities (India)

More information

September 19, 2017 SBI LIFE INSURANCE COMPANY LIMITED. SMC Ranking (3/5) About the Company. Issue Highlights. Strength. Shareholding Pattern (%)

September 19, 2017 SBI LIFE INSURANCE COMPANY LIMITED. SMC Ranking (3/5) About the Company. Issue Highlights. Strength. Shareholding Pattern (%) SBI LIFE INSURANCE COMPANY LIMITED September 19, 2017 SMC Ranking (3/5) Issue Highlights Industry Insurance Total Issue (Shares) - Offer for sale 120,000,000 Net Offer to the Public 120,000,000 Issue Size

More information

June 15, 2017 CENTRAL DEPOSITORY (INDIA) SERVICES LIMITED. SMC Ranking (3.5/5) About the company. Issue Highlights. Strength. Shareholding Pattern (%)

June 15, 2017 CENTRAL DEPOSITORY (INDIA) SERVICES LIMITED. SMC Ranking (3.5/5) About the company. Issue Highlights. Strength. Shareholding Pattern (%) CENTRAL DEPOSITORY (INDIA) SERVICES LIMITED June 15, 2017 SMC Ranking (3.5/5) Issue Highlights Industry Depository Total Issue (Shares) - Offer for sale 35,167,208 Net Offer to the Public 35,167,208 Issue

More information

October 27, 2017 THE NEW INDIA ASSURANCE COMPANY LIMITED. SMC Ranking (3.5/5) About the Company. Issue Highlights. Competitive Strengths

October 27, 2017 THE NEW INDIA ASSURANCE COMPANY LIMITED. SMC Ranking (3.5/5) About the Company. Issue Highlights. Competitive Strengths THE NEW INDIA ASSURANCE COMPANY LIMITED October 27, 2017 SMC Ranking (3.5/5) Issue Highlights Industry General Insurance Total Issue (Shares) - Offer for sale 96,000,000 Total Issue (Shares) - Fresh Issue

More information

IPO NOTE. Jan 19, BSE Ltd. About the company. Issue Highlights. Objects of the Issue. Strength. Issue Composition

IPO NOTE. Jan 19, BSE Ltd. About the company. Issue Highlights. Objects of the Issue. Strength. Issue Composition BSE Ltd. Jan 19, 2017 IPO NOTE Issue Highlights Total Issue (Shares) - Offer for sale 15,427,197 Total Issue (Shares) - Fresh Issue 0 Net Offer to the Public 15,427,197 Issue Size (Rs. Cr.) 1241.89-1243.33

More information

March 15, 2018 HINDUSTAN AERONAUTICS LIMITED. SMC Ranking (3/5) About the Company. Issue Highlights. Strength. Shareholding Pattern (%)

March 15, 2018 HINDUSTAN AERONAUTICS LIMITED. SMC Ranking (3/5) About the Company. Issue Highlights. Strength. Shareholding Pattern (%) HINDUSTAN AERONAUTICS LIMITED March 15, 2018 SMC Ranking (3/5) Issue Highlights Industry Book Running Lead Manager Axis Capital Limited SBI Capital Markets Limited Name of the registrar Defence Offer for

More information

July 12, 2017 SALASAR TECHNO ENGINEERING LTD. About the company. Issue Highlights. Strength. Shareholding Pattern (%) Objects of the Issue.

July 12, 2017 SALASAR TECHNO ENGINEERING LTD. About the company. Issue Highlights. Strength. Shareholding Pattern (%) Objects of the Issue. SALASAR TECHNO ENGINEERING LTD July 12, 2017 About the company Issue Highlights Industry Book Running Lead Manager SARTHI CAPITAL ADVISORS PRIVATE LIMITED Name of the registrar Steel & Allied Total Issue

More information

SPECIAL MONTHLY REPORT ON BULLIONS OCTOBER 2018

SPECIAL MONTHLY REPORT ON BULLIONS OCTOBER 2018 SPECIAL MONTHLY REPORT ON OCTOBER 2018 PERFORMANCE (September 2018) (% change) 1.03 COMEX -0.87 Silver Gold 2.92 MCX 2.16-1.50-1.00-0.50 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 PERFORMANCE (January - September

More information

January 16, 2018 AMBER ENTERPRISES INDIA LIMITED. SMC Ranking (2.5/5) About the Company. Issue Highlights. Strengths. Shareholding Pattern (%)

January 16, 2018 AMBER ENTERPRISES INDIA LIMITED. SMC Ranking (2.5/5) About the Company. Issue Highlights. Strengths. Shareholding Pattern (%) AMBER ENTERPRISES INDIA LIMITED January 16, 2018 SMC Ranking (2.5/5) Issue Highlights Industry Book Running Lead Manager Edelweiss Financial Services Limited IDFC Bank Limited SBI Capital Markets Limited

More information

ICICI Prudential Life Insurance Company Limited OFFER FOR SALE 14 - JUNE

ICICI Prudential Life Insurance Company Limited OFFER FOR SALE 14 - JUNE ICICI Prudential Life Insurance Company Limited OFFER FOR SALE 14 - JUNE - 2018 OFFER BACKGROUND The ICICI Bank Ltd (Promoter / Promoter Group) has submitted to BSE a copy of proposed offer for sale of

More information

August 22, 2017 APEX FROZEN FOODS LIMITED. SMC Ranking (2/5) About the Company. Issue Highlights. Strength. Shareholding Pattern (%)

August 22, 2017 APEX FROZEN FOODS LIMITED. SMC Ranking (2/5) About the Company. Issue Highlights. Strength. Shareholding Pattern (%) APEX FROZEN FOODS LIMITED August 22, 2017 SMC Ranking (2/5) About the Company Issue Highlights Industry Book Running Lead Manager Karvy Investor Services Limited Name of the registrar Bigshare Services

More information

CPSE ETF Product Note

CPSE ETF Product Note CPSE ETF Product Note What are Exchange Traded Funds (ETFs) An ETF is a marketable security that tracks an underlying index, a commodity or bonds. Equity ETFs are simple investment products that combine

More information

June 22, 2018 VARROC ENGINEERING LIMITED. SMC Ranking (2/5) About the Company. Issue Highlights. Strength. Shareholding Pattern (%)

June 22, 2018 VARROC ENGINEERING LIMITED. SMC Ranking (2/5) About the Company. Issue Highlights. Strength. Shareholding Pattern (%) VARROC ENGINEERING LIMITED June 22, 2018 SMC Ranking (2/5) Book Running Lead Manager Issue Highlights Industry Kotak Mahindra Capital Company Limited Citigroup Global Markets India Private Limited Credit

More information

September 07, 2017 MATRIMONY.COM LIMITED. SMC Ranking (2.5/5) About the Company. Issue Highlights. Competitive Strengths: Shareholding Pattern (%)

September 07, 2017 MATRIMONY.COM LIMITED. SMC Ranking (2.5/5) About the Company. Issue Highlights. Competitive Strengths: Shareholding Pattern (%) MATRIMONY.COM LIMITED September 07, 2017 SMC Ranking (2.5/5) Issue Highlights Industry Online Matchmaking Total Issue (Shares) - Offer for sale 3,767,254 Total Issue (Shares) - Fresh Issue 1,319,797 Net

More information

PNB HOUSING FINANCE LIMITED OFFER FOR SALE 28 - NOVEMBER

PNB HOUSING FINANCE LIMITED OFFER FOR SALE 28 - NOVEMBER PNB HOUSING FINANCE LIMITED OFFER FOR SALE 28 - NOVEMBER - 2017 OFFER BACKGROUND The Punjab National Bank (The "Seller") is the promoter of PNB Housing Finance Ltd ("the Company") has submitted to BSE

More information

1 April, 2019 CONTENTS

1 April, 2019 CONTENTS CONTENTS Industry & Fund Update 2 New Fund Offers 3 Performance of Equity Funds 4 Performance of Balanced Funds 5 Performance of Debt Funds 6 Performance of Fund Of Funds 7 st 1 April, 2019 INDUSTRY &

More information

COCHIN SHIPYARD LIMITED

COCHIN SHIPYARD LIMITED Analyst: Raj Bardhan Kumar Singh Vol:- IPO/2017/07/31/2.0 31 st July 2017 COCHIN SHIPYARD LIMITED Cochin Shipyard Limited is the largest public sector shipyard in India in terms of dock capacity, as of

More information

RASHTRIYA CHEMICALS AND FERTILIZERS LTD OFFER FOR SALE 29 - JUN

RASHTRIYA CHEMICALS AND FERTILIZERS LTD OFFER FOR SALE 29 - JUN RASHTRIYA CHEMICALS AND FERTILIZERS LTD OFFER FOR SALE 29 - JUN - 2017 OFFER BACKGROUND The President of India (acting through and represented by the Ministry of Chemicals & Fertilizers, Government of

More information

SPECIAL MONTHLY REPORT ON. ENERGY (February 2019)

SPECIAL MONTHLY REPORT ON. ENERGY (February 2019) SPECIAL MONTHLY REPORT ON () PERFORMANCE (January 2019) (% change) NYMEX -14.85 18.66 Natural Gas Crude oil MCX -5.04 22.05-20.00-15.00-10.00-5.00 0.00 5.00 10.00 15.00 20.00 25.00 1 COMPLEX Overview In

More information

Dec 01, 2016 LAURUS LABS LIMITED. SMC Ranking. (3/5) About the company. Issue Highlights. Strengths. Objects of the Issue. Shareholding Pattern (%)

Dec 01, 2016 LAURUS LABS LIMITED. SMC Ranking. (3/5) About the company. Issue Highlights. Strengths. Objects of the Issue. Shareholding Pattern (%) LAURUS LABS LIMITED Dec 01, 2016 SMC Ranking (3/5) About the company Issue Highlights Industry Pharma Total Issue (Shares) - Offer for sale 24,844,240 Total Issue (Shares) - Fresh Issue 7,009,346 Net Offer

More information

MARCH 2018 SMC RETAIL DESK

MARCH 2018 SMC RETAIL DESK TOP PICKS MARCH 2018 SMC RETAIL DESK HAVELLS INDIA LIMITED Investment Rationale: Target Price 586 Upside Potential 18% Havells India Limited is one of India s largest & fastest growing electrical and power

More information

APL Apollo Tubes India Limited 14 th August, 2018 BUY. Result Update. Result Highlights

APL Apollo Tubes India Limited 14 th August, 2018 BUY. Result Update. Result Highlights APL Apollo Tubes India Limited 14 th August, 2018 Result Update BUY Result Highlights Sector- Iron and Steel Products CMP 1,749 Target Price 2,615 % Up Side 50% Bloomberg Code Stock Info APAT IN Market

More information

LT Technology Services Limited OFFER FOR SALE 02 - AUGUST

LT Technology Services Limited OFFER FOR SALE 02 - AUGUST LT Technology Services Limited OFFER FOR SALE 02 - AUGUST - 2018 OFFER BACKGROUND Larsen & Tourbo Ltd ("the Seller") has submitted to BSE a copy of Notice of Offer of Sale up to 41,00,000 equity shares

More information

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds CONTENTS Industry & Fund Update 1 New Fund Offers 2 Performance of Equity Funds 3 Performance of Balanced Funds 4 Performance of Debt Funds 5 Performance of Fund Of Funds 6 29th January, 2018 INDUSTRY

More information

AVOID. IPO Report GARDEN REACH SHIPBUILDERS & ENGINEERS LTD. IPO Details. Research Analyst : Astha Jain

AVOID. IPO Report GARDEN REACH SHIPBUILDERS & ENGINEERS LTD. IPO Details. Research Analyst : Astha Jain IPO Report AVOID IPO Details Issue Date 24 th Sept-26 th Sept 2018 Price Band 115-118/Share * Bid Lot 120 & in multiplethereof Face Value Rs 10/Share Listing BSE, NSE Offer For Sale 29,210,760 Eq Shares

More information

June 20, 2018 FINE ORGANIC INDUSTRIES LIMITED. SMC Ranking (2/5) About the Company. Issue Highlights. Strength. Shareholding Pattern (%)

June 20, 2018 FINE ORGANIC INDUSTRIES LIMITED. SMC Ranking (2/5) About the Company. Issue Highlights. Strength. Shareholding Pattern (%) FINE ORGANIC INDUSTRIES LIMITED June 20, 2018 SMC Ranking (2/5) Issue Highlights Industry Book Running Lead Manager Ÿ JM Financial Limited Ÿ Edelweiss Financial Services Limited Name of the registrar FMCG

More information

29 January, 2018 GUAR SEED OPTIONS: A BOON FOR AGRI-COMMODITY MARKET

29 January, 2018 GUAR SEED OPTIONS: A BOON FOR AGRI-COMMODITY MARKET 29 January, 2018 GUAR SEED OPTIONS: A BOON FOR AGRI-COMMODITY MARKET Guar Seed Options: A boon for agri-commodity market Shri Arun Jaitley (Hon ble Finance Minister, Govt. of India) launched the Agri Options

More information

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds CONTENTS Industry & Fund Update 1 New Fund Offers 2 Performance of Equity Funds 3 Performance of Balanced Funds 4 Performance of Debt Funds 5 Performance of Fund Of Funds 6 27th November, 2017 INDUSTRY

More information

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds CONTENTS Industry & Fund Update 1 New Fund Offers 2 Performance of Equity Funds 3 Performance of Balanced Funds 4 Performance of Debt Funds 5 Performance of Fund Of Funds 6 18th February, 2019 INDUSTRY

More information

3rd April Monthly Report On SPICES. April 2017

3rd April Monthly Report On SPICES. April 2017 Monthly Report On SPICES April 2017 3rd April 2017 CARDAMOM Forward curve of Cardamom futures Historic returns of Cardamom futures during month of April 1420.00 15% 1370.00 1400.40 11% 1320.00 1270.00

More information

CONTENTS 27th Feb 2017

CONTENTS 27th Feb 2017 CONTENTS Industry & Fund Update 1 Dividend Declared 3 New Fund Offers 4 Performance of Equity Funds 5 Performance of Balanced Funds 6 Performance of Debt Funds 7 Performance of Fund Of Funds 8 27th Feb

More information

8 April, 2019 CONTENTS

8 April, 2019 CONTENTS CONTENTS Industry & Fund Update 2 New Fund Offers 3 Performance of Equity Funds 4 Performance of Balanced Funds 5 Performance of Debt Funds 6 Performance of Fund Of Funds 7 st 8 April, 2019 INDUSTRY &

More information

CONTENTS 27th Mar 2017

CONTENTS 27th Mar 2017 CONTENTS Industry & Fund Update 1 Dividend Declared 2 New Fund Offers 3 Performance of Equity Funds 4 Performance of Balanced Funds 5 Performance of Debt Funds 6 Performance of Fund Of Funds 7 27th Mar

More information

2nd Feb Monthly Report On. February 2017

2nd Feb Monthly Report On. February 2017 2nd Feb 2017 Monthly Report On Other Commodities Other Commodities February 2017 SUGAR Forward curve of Sugar M futures Historic returns of Sugar futures during month of February 3,900.00 8% 3,880.00 3,880.00

More information

2nd May, Monthly Report On SPICES. May 2018

2nd May, Monthly Report On SPICES. May 2018 Monthly Report On 2nd May, 2018 SPICES May 2018 TURMERIC (June) 7400.00 Forward curve of Turmeric futures 10% Historic returns of Turmeric futures during month of May 7350.00 7382.00 6.39% 5% 7300.00 7298.00

More information

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds CONTENTS Industry & Fund Update 1 New Fund Offers 2 Performance of Equity Funds 3 Performance of Balanced Funds 4 Performance of Debt Funds 5 Performance of Fund Of Funds 6 2nd July, 2018 INDUSTRY & FUND

More information

Monthly Report On SPICES. June 2018

Monthly Report On SPICES. June 2018 Monthly Report On 5th June, 2018 SPICES June 2018 TURMERIC (July) Forward curve of Turmeric futures Historic returns of Turmeric futures during month of June 7600 25% 7500 7548 20% 19.84% 7400 7404 15%

More information

Oct 20, 2016 VARUN BEVERAGES LIMITED. SMC Ranking (2.5/5) Issue Highlights. About the company. Issue Composition. Competitive Strengths

Oct 20, 2016 VARUN BEVERAGES LIMITED. SMC Ranking (2.5/5) Issue Highlights. About the company. Issue Composition. Competitive Strengths VARUN BEVERAGES LIMITED Oct 20, 2016 SMC Ranking (2.5/5) Issue Highlights Industry FMCG Total Issue(Shares)-Offer for sale 10,000,000 Total Issue (Shares)-Fresh Issue 15,000,000 Net O? er to the Public

More information

Aug 16, 2016 RBL BANK LIMITED. SMC Ranking. Competitive Strengths (3/5) Business Overview. Issue Highlights. Issue Composition

Aug 16, 2016 RBL BANK LIMITED. SMC Ranking. Competitive Strengths (3/5) Business Overview. Issue Highlights. Issue Composition RBL BANK LIMITED Aug 16, 2016 Business Overview SMC Ranking (3/5) Issue Highlights Industry Bank Total Issue (Shares) - Offer for sale 16,909,628 Total Issue (Shares) - Fresh Issue 48,888,889 Net Offer

More information

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds CONTENTS Industry & Fund Update 1 New Fund Offers 2 Performance of Equity Funds 3 Performance of Balanced Funds 4 Performance of Debt Funds 5 Performance of Fund Of Funds 6 8th January, 2018 INDUSTRY &

More information

SPECIAL MONTHLY REPORT ON. ENERGY (November 2018)

SPECIAL MONTHLY REPORT ON. ENERGY (November 2018) SPECIAL MONTHLY REPORT ON () PERFORMANCE (October 2018) (% change) NYMEX -10.84 8.31 Natural Gas Crude oil MCX -8.30 10.83-15.00-10.00-5.00 0.00 5.00 10.00 15.00 PERFORMANCE (January - October 2018) (%

More information

Sept 19, 2016 HPL ELECTRIC & POWER LIMITED. SMC Ranking (2/5) About the company. Issue Highlights. Competitive Strengths. Shareholding Pattern (%)

Sept 19, 2016 HPL ELECTRIC & POWER LIMITED. SMC Ranking (2/5) About the company. Issue Highlights. Competitive Strengths. Shareholding Pattern (%) HPL ELECTRIC & POWER LIMITED Sept 19, 2016 About the company SMC Ranking (2/5) Issue Highlights Industry Total Fresh Issue (Shares) Capital Goods 17,871,287 Net Offer to the Public 17,871,287 Issue Size

More information

3rd May Monthly Report On. May 2017

3rd May Monthly Report On. May 2017 3rd May 2017 Monthly Report On Guar, Kapas & Wheat May 2017 KAPAS Kapas futures Seasonal Index Historic returns of Kapas futures during month of May 1.06 1.04 1.02 1.00 0.98 0.96 0.94 0.92 0.90 Jan Feb

More information

2nd May Monthly Report On SPICES. May 2017

2nd May Monthly Report On SPICES. May 2017 2nd May 2017 Monthly Report On SPICES May 2017 CARDAMOM Forward curve of Cardamom futures Historic returns of Cardamom futures during month of May 1250.00 1200.00 1150.00 1100.00 1050.00 1000.00 950.00

More information

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds CONTENTS Industry & Fund Update 1 New Fund Offers 2 Performance of Equity Funds 3 Performance of Balanced Funds 4 Performance of Debt Funds 5 Performance of Fund Of Funds 6 1st January, 2018 INDUSTRY &

More information

Apollo Micro Systems Ltd

Apollo Micro Systems Ltd IPO Note Financials Jan 08, 2018 Apollo Micro Systems Ltd Incorporated in 1997, Apollo Micro Systems Limited (AMSL) is a Hyderabad based company engaged in the business of electronic, electro-mechanical,

More information

MISHRA DHATU NIGAM Ltd.

MISHRA DHATU NIGAM Ltd. IPO Note Metal Mar 19, 2018 MISHRA DHATU NIGAM Ltd. Incorporated in 1973, with an aim of achieving self-reliance in research and development, and supply of critical alloys and products of national security,

More information

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds CONTENTS Industry & Fund Update 1 New Fund Offers 2 Performance of Equity Funds 3 Performance of Balanced Funds 4 Performance of Debt Funds 5 Performance of Fund Of Funds 6 26th December, 2017 INDUSTRY

More information

Bharat Dynamics Ltd SUBSCRIBE. Issue Open: Mar 13, 2018 Issue Close: Mar 15, IPO Note Defence. Key Financials

Bharat Dynamics Ltd SUBSCRIBE. Issue Open: Mar 13, 2018 Issue Close: Mar 15, IPO Note Defence. Key Financials IPO Note Defence Mar 09, 2018 Bharat Dynamics Ltd Incorporated in 1970, Bharat Dynamics Limited (BDL), a Government of India (GOI) Enterprise under the Ministry of Defense (MOD) was established in Hyderabad

More information

SPECIAL MONTHLY REPORT ON

SPECIAL MONTHLY REPORT ON SPECIAL MONTHLY REPORT ON BASE METALS MARCH 2018 COPPER NICKEL LEAD ZINC ALIUMINUM BASE METALS PERFORMANCE (February 2018) (% change) Nickel 1.90 1.81 4.33 Lead -3.56-2.00-1.08 Aluminium -2.97-1.11-0.89

More information

The New India Assurance Company Ltd

The New India Assurance Company Ltd IPO Note Financials Oct 31, 2017 The New India Assurance Company Ltd The New India Assurance Company Ltd (NIA) is the leader in the non-life insurance in India, controlling hefty 15% market share in terms

More information

SPECIAL MONTHLY REPORT ON BULLIONS NOVEMBER 2018

SPECIAL MONTHLY REPORT ON BULLIONS NOVEMBER 2018 SPECIAL MONTHLY REPORT ON NOVEMBER 2018 PERFORMANCE (October 2018) (% change) COMEX -2.92 1.57 Silver Gold MCX -1.37 3.14-4.00-3.00-2.00-1.00 0.00 1.00 2.00 3.00 4.00 PERFORMANCE (January - October 2018)

More information

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds CONTENTS Industry & Fund Update 1 New Fund Offers 2 Performance of Equity Funds 3 Performance of Balanced Funds 4 Performance of Debt Funds 5 Performance of Fund Of Funds 6 4th December, 2017 INDUSTRY

More information

NEUTRAL. Neogen Chemicals Ltd. Issue Open: April 24, 2019 Issue Close: April 26, IPO Note Specialty Chemicals

NEUTRAL. Neogen Chemicals Ltd. Issue Open: April 24, 2019 Issue Close: April 26, IPO Note Specialty Chemicals IPO Note Specialty Chemicals April 22, 2019 Neogen Chemicals Ltd. NEUTRAL Issue Open: April 24, 2019 Issue Close: April 26, 2019 Neogen Chemicals Limited (NCL) is one of the leading Indian manufacturers

More information

REPORTON GOLD&SILVER DHANTERAS &DIWALI. (Special)

REPORTON GOLD&SILVER DHANTERAS &DIWALI. (Special) REPORTON GOLD&SILVER DHANTERAS &DIWALI (Special) GOLD AND SILVER PRICE MOVEMENT IN 2018 Source: SMC Research Overview and Outlook of Gold Recently bullion counter on domestic bourses traded on positive

More information

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds CONTENTS Industry & Fund Update 1 New Fund Offers 2 Performance of Equity Funds 3 Performance of Balanced Funds 4 Performance of Debt Funds 5 Performance of Fund Of Funds 6 5th November, 2018 INDUSTRY

More information

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds CONTENTS Industry & Fund Update 1 New Fund Offers 2 Performance of Equity Funds 3 Performance of Balanced Funds 4 Performance of Debt Funds 5 Performance of Fund Of Funds 6 30th July, 2018 INDUSTRY & FUND

More information

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds CONTENTS Industry & Fund Update 1 New Fund Offers 2 Performance of Equity Funds 3 Performance of Balanced Funds 4 Performance of Debt Funds 5 Performance of Fund Of Funds 6 25th June, 2018 INDUSTRY & FUND

More information

COCHIN SHIPYARD LTD (COSH)

COCHIN SHIPYARD LTD (COSH) IPO NOTE COCHIN SHIPYARD LTD (COSH) PRIVATE CLIENT RESEARCH JULY 27, 2017 Amit Agarwal agarwal.amit@kotak.com +91 22 6218 6439 Details of the issue Price Band Rs 424 to Rs 432 No of shares 33,984,000 Allocation

More information

Varroc Engineering Ltd.

Varroc Engineering Ltd. IPO Note Auto ancillary June 25, 2018 Varroc Engineering Ltd. Varroc Engineering Ltd (VEL) is a tier-1 automotive component group. It designs, manufactures and supplies exterior lighting systems, plastic

More information

COCHIN SHIPYARDUMITED

COCHIN SHIPYARDUMITED COCHIN SHIPYARDUMITED (A Government of India Category-1 Miniratna Company, Ministry of Shipping) SEC/48/2017-63 October 31, 2018 To The Manager, Compliance Department, SSE Limited, Phiroze Jeejeebhoy Tower,

More information

September 7, G N A Axles Ltd. SMC Ranking (1.5/5) About the Company. Competitive Strengths. Issue Highlights. In shares.

September 7, G N A Axles Ltd. SMC Ranking (1.5/5) About the Company. Competitive Strengths. Issue Highlights. In shares. G N A Axles Ltd September 7, 2016 SMC Ranking (1.5/5) About the Company Issue Highlights Industry Financial services Total Issue 6,300,000 Issue Size Cr. 129-130 Price Band (`) 205-207 Offer Date 14-Sep-16

More information

3rd November, Monthly Report On. November 2017

3rd November, Monthly Report On. November 2017 3rd, 2017 Monthly Report On Kapas, Guar & Chana 2017 KAPAS Forward curve of Cotton 29MM futures Historic returns of Kapas futures during month of 1.06 1.06 1.04 1.04 1.02 1.02 0.98 0.98 0.96 0.96 0.94

More information

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds CONTENTS Industry & Fund Update 1 New Fund Offers 2 Performance of Equity Funds 3 Performance of Balanced Funds 4 Performance of Debt Funds 5 Performance of Fund Of Funds 6 11th September, 2017 INDUSTRY

More information

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds CONTENTS Industry & Fund Update 1 New Fund Offers 2 Performance of Equity Funds 3 Performance of Balanced Funds 4 Performance of Debt Funds 5 Performance of Fund Of Funds 6 7th May, 2018 INDUSTRY & FUND

More information

Monthly Report On. 2nd July, 2018 SPICES. July 2018

Monthly Report On. 2nd July, 2018 SPICES. July 2018 Monthly Report On 2nd July, 2018 SPICES July 2018 TURMERIC (August) 7500 Forward curve of Turmeric futures 50% Historic returns of Turmeric futures during month of July 7450 40% 40.21% 7446 30% 7400 20%

More information

CONTENTS 22nd May 2017

CONTENTS 22nd May 2017 CONTENTS Industry & Fund Update 2 Dividend Declared 3 New Fund Offers 4 Performance of Equity Funds 5 Performance of Balanced Funds 6 Performance of Debt Funds 7 Performance of Fund Of Funds 8 22nd May

More information

Future Supply Chain Solutions Ltd

Future Supply Chain Solutions Ltd IPO Note Financials Dec 04, 2017 Future Supply Chain Solutions Ltd Incorporated in 2006, Future Supply Chain Solutions Ltd (FSCSL) is one of the largest third-party logistics service providers in India.

More information

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds

CONTENTS Industry & Fund Update New Fund Offers Performance of Equity Funds Performance of Balanced Funds Performance of Debt Funds CONTENTS Industry & Fund Update 1 New Fund Offers 2 Performance of Equity Funds 3 Performance of Balanced Funds 4 Performance of Debt Funds 5 Performance of Fund Of Funds 6 10th September, 2018 INDUSTRY

More information

Sandhar Technologies Limited

Sandhar Technologies Limited IPO Note Auto Ancillary Mar 15, 2018 Sandhar Technologies Limited Sandhar Technologies Ltd. is one of the leading auto component suppliers for safety and security systems such as lock assemblies, mirror

More information

Aster DM Healthcare Ltd

Aster DM Healthcare Ltd IPO Note Healthcare Feb 08, 2018 Aster DM Healthcare Ltd Aster DM Healthcare Ltd (ADHL) is one of the largest private healthcare service providers which operates in multiple GCC states and is an emerging

More information

IndoStar Capital Finance Ltd.

IndoStar Capital Finance Ltd. IPO Note Financials May 07, 2018 IndoStar Capital Finance Ltd. IndoStar Capital Finance (ICFL) is a Mumbai-headquartered non-deposit taking NBFC. It is the first of its kind to be promoted by global investors,

More information

Newgen Software Technologies Ltd

Newgen Software Technologies Ltd IPO Note IT Jan 12, 2018 Newgen Software Technologies Ltd Incorporated in 1992, Newgen Software Technologies Limited (NSTL) is a New Delhi based IT company and a global provider of Business Process Management

More information

Issue Size (mn shares) 34 Issue Open/Close Aug 01/03, 2017 Face Value (Rs) 10 Price Band (Rs) Lot Size (shares) 30

Issue Size (mn shares) 34 Issue Open/Close Aug 01/03, 2017 Face Value (Rs) 10 Price Band (Rs) Lot Size (shares) 30 Wellmanaged PSU with Bright Prospects Ltd. (CSL) a Miniratna company is one of the largest PSU shipyard companies in India. Currently, it has two docks located adjacent to Cochin Port in West Coast of

More information

Reliance Nippon Life Asset Management Ltd.

Reliance Nippon Life Asset Management Ltd. IPO Note: Reliance Nippon Life Asset Management Ltd. Industry: BFSI Recommendation: Subscribe Date: October 23, 2017 Issue Snapshot Company Name Reliance Nippon Life Asset Management Ltd. Issue Opens October

More information

The Great Eastern Shipping Company Ltd. A Review of Financial Year

The Great Eastern Shipping Company Ltd. A Review of Financial Year The Great Eastern Shipping Company Ltd. A Review of Financial Year 04 April 30, 2004 Forward Looking Statement This presentation contains certain forward looking information through statements, which are

More information

General Insurance Corporation of India

General Insurance Corporation of India IPO Note Financials Oct 10, 2017 General Insurance Corporation of General Insurance Corporation of (GIC Re) is the largest reinsurer company in terms of gross premium (GP) accepted, having a market share

More information

LONG TERM SUBSCRIBE. IPO Report HINDUSTAN AERONAUTICS LTD. IPO Details. Research Analyst : Astha Jain

LONG TERM SUBSCRIBE. IPO Report HINDUSTAN AERONAUTICS LTD. IPO Details. Research Analyst : Astha Jain IPO Report HINDUSTAN AERONAUTICS LTD LONG TERM SUBSCRIBE IPO Details Issue Date 16 th Mar-20 th Mar 2018 Price Band Bid Lot Face Value Listing Offer For Sale Fresh Issue ---- Pre Issue Eq Shares Post Issue

More information

GMM Pfaudler Limited BUY. Performance Update CMP. `945 Target Price ` QFY2019 Result Update Industrial Machinery. Investment Period 12 Months

GMM Pfaudler Limited BUY. Performance Update CMP. `945 Target Price ` QFY2019 Result Update Industrial Machinery. Investment Period 12 Months 2QFY2019 Result Update Industrial Machinery October 26, 2018 GMM Pfaudler Limited Performance Update Standalone (` cr) Q2FY19 Q2FY18 % yoy Q1FY19 % qoq Net sales 99.2 93.2 29.8% 76.4 6.4% EBITDA 16.0 15.3

More information

Change EPS. (Rs) FY

Change EPS. (Rs) FY 17 AUG 217 / Quarterly Update BUY Target Price: Rs. 662 : Revenue up 21% Y-o-Y, strong growth in Non-GLE segment GMM Pfaudler Ltd(GMM) in 1QFY18posted revenues of Rs 69 Cr. (up 21% Y-o-Y, down 13% Q-o-Q)

More information

OFS: Rs. 82 bn. Rs. 700bn at upper price band JM Financial, Axis Capital, BNP Paribas, Citigroup, Deutsche, ICICI Sec., Kotak, SBI Cap.

OFS: Rs. 82 bn. Rs. 700bn at upper price band JM Financial, Axis Capital, BNP Paribas, Citigroup, Deutsche, ICICI Sec., Kotak, SBI Cap. SBI Life Insurance Co. Ltd. - Best placed amongst peers in Life insurance industry but expensively valued - SUBSCRIBE for long term.. SBI Life Insurance Company Limited was incorporated at Mumbai on October

More information

ASL Marine Corporate Presentation 1H FY2013

ASL Marine Corporate Presentation 1H FY2013 ASL Marine Corporate Presentation 1H FY2013 Presentation Outline Group Overview 1H FY2013 Financial Review (6 months ended 31 December 2012) Operations Review Business Outlook 2 Group Overview 3 Company

More information

ICICI Bank BUY. Performance Highlights. CMP Target Price `328 `416. 3QFY2018 Result Update Banking. 3-year price chart. Key financials (Standalone)

ICICI Bank BUY. Performance Highlights. CMP Target Price `328 `416. 3QFY2018 Result Update Banking. 3-year price chart. Key financials (Standalone) Feb-15 Jun-15 Oct-15 Feb-16 Jun-16 Oct-16 Feb-17 Jun-17 Oct-17 Feb-18 3QFY2018 Result Update Banking February 15, 2018 ICICI Bank Performance Highlights Particulars (` cr) 3QFY18 2QFY18 % chg (qoq) 3QFY17

More information

AVIC International Investments Limited. 4Q/FP2011 Corporate Presentation. 22 February 2012

AVIC International Investments Limited. 4Q/FP2011 Corporate Presentation. 22 February 2012 AVIC International Investments Limited 4Q/FP2011 Corporate Presentation 22 February 2012 Disclaimer The presentation is prepared by AVIC International Investments Limited(the Company ). The information

More information

HDFC Asset Management Co

HDFC Asset Management Co IPO Note Financials July 23, 2018 HDFC Asset Management Co HDFC Asset Management Co (HDFC ) is the asset management arm of the HDFC Ltd (Promoter) and was established in 1999. In 2001, Standard Life Investments

More information

Parag Milk Foods BUY. Performance Update CMP. `256 Target Price `330. 2QFY2019 Result Update Dairy Products. Investment Period 12 Months

Parag Milk Foods BUY. Performance Update CMP. `256 Target Price `330. 2QFY2019 Result Update Dairy Products. Investment Period 12 Months 2QFY2019 Result Update Dairy Products November 6, 2018 Parag Milk Foods Performance Update Y/E March (` cr) Q2FY19 Q2FY18 % yoy Q1FY19 % qoq Net sales 573 505 13.7% 549 4.4% EBITDA 58 50 16.3% 60-2.7%

More information

Business & Financial Presentation FY

Business & Financial Presentation FY The Great Eastern Shipping Company Ltd. Business & Financial Presentation FY 2004-05 April 29, 2005 1 Forward Looking Statements Except for historical information, the statements made in this presentation

More information

SUBSCRIBE. ICICI Lombard General Insurance Co Ltd. Issue Open: Sept 15, 2017 Issue Close: Sept 19, IPO Note Insurance

SUBSCRIBE. ICICI Lombard General Insurance Co Ltd. Issue Open: Sept 15, 2017 Issue Close: Sept 19, IPO Note Insurance IPO Note Insurance Sept 14, 2017 ICICI Lombard General Insurance Co Ltd ICICI Lombard is the largest non-life private sector insurer in India. It is a JV between ICICI Bank and Fairfax Financial Holdings

More information

SPECIAL MONTHLY REPORT ON BASE METALS

SPECIAL MONTHLY REPORT ON BASE METALS SPECIAL MONTHLY REPORT ON BASE METALS FEBRUARY 2018 COPPER NICKEL LEAD ZINC ALIUMINUM BASE METALS PERFORMANCE (January 2018) (% change) Nickel 4.86 5.94 10.56 Lead 1.78 5.17 4.44 Aluminium -4.65-3.00-0.76

More information

The Shipping Corporation of India

The Shipping Corporation of India FPO Note November 30, 2010 The Shipping Corporation of India SECTOR: SHIPPING CMP: 145.10 SENSEX: 19405.10 Subscribe Issue Snapshot Issue Open: Issue Close: 30-Nov-10 3-Dec-10 Price Band (Rs) 135-140 Issue

More information

ICICI Bank BUY. Performance Highlights. CMP Target Price `343 `460. Q3FY2019 Result Update Banking. 3-year price chart. Exhibit 1: Key Financials

ICICI Bank BUY. Performance Highlights. CMP Target Price `343 `460. Q3FY2019 Result Update Banking. 3-year price chart. Exhibit 1: Key Financials Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Q3FY2019 Result Update Banking Feb 15, 2019 ICICI Bank Performance Highlights Particulars (` cr) Q3FY19 Q2FY19 % chg

More information

HDFC Standard Life Insurance Company Ltd.

HDFC Standard Life Insurance Company Ltd. IPO Note: HDFC Standard Life Insurance Company Ltd. Industry: Life Insurance Recommendation: Subscribe Date: November 06, 2017 Issue Snapshot Company Name HDFC Standard Life Insurance Company Ltd. Issue

More information

PSP Projects Ltd. 1 P a g e. Subscribe with Long Recommendation. Term View BACKGROUND

PSP Projects Ltd. 1 P a g e. Subscribe with Long Recommendation. Term View BACKGROUND Subscribe with Long Recommendation Term View BACKGROUND Price Band Rs. 205 Rs. 210 (PSP) is a multidisciplinary construction company Bidding Date 17 th Sep - 19 th May 2017 Book Running Lead Manager Registrar

More information

RELIANCE INDUSTRIES LIMITED. January 29, In Cr. Current Price: ` Consolidated Results STOCK DATA VALUE PARAMETERS

RELIANCE INDUSTRIES LIMITED. January 29, In Cr. Current Price: ` Consolidated Results STOCK DATA VALUE PARAMETERS RELIANCE INDUSTRIES LIMITED January 29, 2018 Current Price: ` 964.55 STOCK DATA BSE Code 500325 NSE Symbol RELIANCE Reuters RELI.BO Bloomberg RIL IN VALUE PARAMETERS Price (Rs) 964.55 52 W H/L(Rs) 990.00/508.05

More information