Upcoming IPO - Thejo Engineering Ltd

Thejo Engineering Ltd is entering in the capital markets (through NSE SME) with an initial public offering (IPO), aggregating upto Rs 19 crore through a book building process. The price band for the issue has been fixed at Rs 402/- at lower level and Rs 430/- at upper level.

Thejo Engineering Ltd is an Engineering Solutions provider for Bulk Material Handling, Mineral Processing and Corrosion Protection to the Core Sector Industries like mining, power, steel, cement, ports, fertilizers etc. Company is based in Chennai and provide services include belt conveyor maintenance and operations.

The issue opens on Sep 04, 2012 and closes for subscription on Sep 06, 2012. This is the first stock which is proposed to be listed on 'Emerge' the SME platform by NSE.

Website:
www.thejo-engg.com/

Market Holiday

20th August 2012, Monday will be a Trading & Clearing holiday for both NSE and BSE on account of Ramzan ID.

Varun Shipping Company reported net profit of Rs 145.22 crore in the quarter ended June 2012 as against net loss of Rs 35.25 crore during the previous quarter ended June 2011.

Mahindra & Mahindra

Buy rating on Mahindra & Mahindra (M&M is maintained with a higher target price of Rs.815 over one 

year, against the earlier target price of Rs.800. The stock is currently traded in the price range of Rs.738. The company reported better than expected result for 1QFY13. In line with positive surprise in automotive volumes, company’s 1QFY13 earnings exceeded market expectations by 8%. Most of the surprises came from revenue side, which has beaten market expectations by 8% on account of favorable product mix.

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.