Upcoming IPO - Sangam Advisors Ltd

Sangam Advisors Ltd is entering in the capital markets (through BSE SME) with an initial public offering, IPO of 2,304,000 Equity Shares of Rs 10/- each. The price band for the issue has been fixed at Rs 22/- per share.

Sangam Advisors Ltd is incorporated in 1999 and engaged in the business of providing diversified financial services with primary focus in assisting small and medium enterprises (SMEs) in corporate and non corporate sector in their financial planning and arranging funds for them. They are also engaged in the business of investing in shares and other securities.

The issue opens on July 24, 2012 and closes for subscription on July 26, 2012. The equity shares of the issue are proposed to be listed on the SME Platform of BSE Limited ("BSE").

Website: http://www.sangamadvisors.com/

Dollar Vs Indian Rupee

1990: 1 dollar = Rs 18.11

1991: 1 dollar = Rs 25.79

1992: 1 dollar = Rs 28.95

1993: 1 dollar = Rs 31.44

1994: 1 dollar = Rs 31.39

1995: 1 dollar = Rs 34.92

1996: 1 dollar = Rs 35.83

1997: 1 dollar = Rs 39.15

1998: 1 dollar = Rs 42.58

1999: 1 dollar = Rs 43.45

2000: 1 dollar = Rs 46.88

2001: 1 dollar = Rs 47.93

2002: 1 dollar = Rs 48.23

2003: 1 dollar = Rs 45.66

2004: 1 dollar = Rs 44.00

2005: 1 dollar = Rs 46.11

2006: 1 dollar = Rs 44.49

2007: 1 dollar = Rs 39.33

2008: 1 dollar = Rs 49.82

2009: 1 dollar = Rs 46.29 

2010: 1 dollar = Rs 45.09

2011: 1 dollar = Rs 51.10

2012: 1 dollar = Rs 54.47

Tata Steel

Buy rating on Tata Steel is reiterated with a target price of Rs.489 over one year.

The main concern on Tata Steel has been the extent of weakness in Europe. But the current 

perception is that even in the midst of current weakness, Corus should deliver USD 20-30 EBITDA / 

ton versus the earlier estimate of USD 28 EBITDA / ton.

Margins should improve further in 2HFY13 with the Pt Talbot rebuild and easing in China.

With upward re-pricing of contracts in 1QFY13, Corus ASP (average sales price) have improved USD 

20-25/ ton qoq. With the decline in coking coal prices, Corus should comfortably deliver USD 20-30 

EBITDA / ton in 1QFY13.

Comments from other European steel makers also suggest a clear upturn in 2Q12 margins versus 

1Q12 levels.

The stock has been trading close to its trough valuation. It is expected that the stock would reverse its 

year to date de-rating driven by 2H12 policy easing in China and Europe.

With the stock price implying almost no FY13 EBITDA margin for Corus, the risk-reward ratio is 

favorable.

Jamshedpur/ Benga ramp up and Pt Talbot rebuild are near term triggers for the stock.

Ashok Leyland, Airtel

 Nomura has downgraded India's second-largest truck and bus manufacturer, Ashok Leyland to 'neutral' from 'buy' and cut its target price to Rs 26 from Rs 34.

Bharti Airtel, India's top mobile phone operator, on Thursday cut prices of its third-generation (3G) mobile data services by about 70% under some plans, a company statement showed, in a move to boost usage of the premium services in the country.

TMB & United Phosphorus

Net profit of Tamilnad Mercantile Bank rose 66.01% to Rs 120.09 crore in the quarter ended March 2012 as against Rs 72.34 crore during the previous quarter ended March 2011. Total operating income rose 39.00% to Rs 533.59 crore in the quarter ended March 2012 as against Rs 383.89 crore during the previous quarter ended March 2011.

http://www.tmb.in/

United Phosphorus today announced a buy-back of 1.92 crore equity shares for up to Rs 288 crore from the open market. The company would buy the shares at a price not exceeding Rs 150 per share, which is over 25% higher than the current market price of Rs 119.65 per share.

Update - TVS Electronics

 Net profit of TVS Electronics rose 103.68% to Rs 2.77 crore in the quarter ended March 2012 as against Rs 1.36 crore during the previous quarter ended March 2011. Sales rose 39.29% to Rs 66.40 crore in the quarter ended March 2012 as against Rs 47.67 crore during the previous quarter ended March 2011.

Info - Bank of India

 Net profit of Bank of India rose 93.00% to Rs 952.73 crore in the quarter ended March 2012 as against Rs 493.64 crore during the previous quarter ended March 2011. Total operating income rose 23.84% to Rs 7810.62 crore in the quarter ended March 2012 as against Rs 6306.93 crore during the previous quarter ended March 2011.

Upcoming IPO - SAMVARDHANA MOTHERSON FINANCE LIMITED

SAMVARDHANA MOTHERSON FINANCE LIMITED


Issue Open: May 02, 2012
Issue close:         May 04, 2012
Price Band: Rs. 113 - Rs. 118 Per Equity Share
Minimum Bid Size:         50 Equity Shares
Face Value: Rs. 10 Per Equity Share
Issue Type: 100% Book Building
Maximum Subscription Amount  for Retail Investor: Rs. 200000

SAMVARDHANA MOTHERSON FINANCE LIMITED:

Incorporated in 2004, Samvardhana Motherson Finance Limited (SMFL) is a multinational business with manufacturing and design capabilities providing full system solutions to diverse industries. SMFL provides an end-to-end range of design and manufacturing solutions to the automotive customers, including product concept and product design, engineering, manufacturing, sub-assembly and the production of integrated modules.

IPO Grading / Rating:
ICRA has assigned an IPO Grade 4 to Samvardhana Motherson Finance Ltd IPO. This means as per ICRA, company has 'Above Average Fundamentals'.

Website:
http://www.motherson.com/Group-Companies.html

Upcoming IPO -> TRIBHOVANDAS BHIMJI ZAVERI LIMITED

TRIBHOVANDAS BHIMJI ZAVERI LIMITED

Incorporated in 1949, Tribhovandas Bhimji Zaveri Ltd. is India top jewellery retailer. Company sells gold jewellery, diamond-studded jewellery, platinum jewellery and jadau jewellery though 14 showrooms in 10 cities across five states.Company's most popular and oldest showroom is located at Zaveri Bazar, Mumbai. This was established in 1864.

Issue Open: April 24, 2012

Issue close: April 26, 2012

Price Band: Rs. 120 - Rs. 126 Per Equity Share

Minimum Bid Size: 45 Equity Shares

Face Value: Rs. 10 Per Equity Share

Issue Type: 100% Book Building

Maximum Subscription Amount  for Retail Investor: Rs. 200000

IPO Grading / Rating:
CRISIL has assigned an IPO Grade 3 to Tribhovandas Bhimji Zaveri Ltd (TBZ) IPO. This means as per CRISIL, company has 'Average Fundamentals'.

Maintain ‘reduce’ rating on Infosys – TP Rs.2500

1. Company’s 4QFY12 USD revenue declined 1.9% qoq, as against guidance of 0-0- 0.02% increase.

2. EBIT missed market estimates buy EPS was in line with expectations due to higher other income.

3. The guidance for FY13 of USD revenue growth of 8-10% and EPS estimate of Rs.159 – Rs.161 looks 

poor.

4. Estimates and rating on the scrip are under review due to weak outlook.

5. Guidance for FY13 is with the anticipation of 0-1% qoq revenue growth in 1Q and 4-5% qoq revenue 

growth in 2Q –Q4.

6. Poor EPS outlook for FY13 does not factor in any wage hike and it is due to worries regarding poor 

demand, which is an industry- wise worry.

7. Retain ‘reduce’ rating on the stock with the earlier target price of Rs.2500 over one year.