Optimistic financial schemes revealed by Elcoteq

Elcoteq SE, a Finnish electronics firm, revealed schemes to create financial stability in spite of sharp deficit in the last quarter as well as the board-exit of two founders. Moreover, the company disclosed that its discussion on equity stake with Videocon, an Indian group, already went into a conclusion.

Paramount’s failure to pay 2 Embraer aircrafts to be settled

Coimbatore-based Paramount Airways committed failure to pay of two Embraer aircrafts that started in 2009 according to ECC Leasing, the Brazilian aircraft maker Embraer EBA’s fully-owned subsidiary. However, lawful procedures were being carried out by the company to settle this issue once and for all.

Rs 30 per share bonus debenture approved by Dr Reddy’s board

Rs 30 every share bonus debentures, which were approved by Dr Reddy’s Laboratories’ board, are due for redemption after 3 years according to Dr Reddy’s. One objective of this pharma company is the issuance of six Rs 5 bonus debentures per single equity share owned.

Last quarter deficit in India's current account slightly broadens

With reference to the disclosure of central bank statistics, the current account deficit of India broadened a little bit in last quarter of 2009, October to December, with a value of USD 12.03 billion in comparison to USD 11.94 billion in July to September quarter due to downturn in invisible receipts.

HDFC PMS to receive 49% stake in Godrej Prop

Godrej Properties Ltd made an announcement that it has a plan to relocate the 49% equity share in its subsidiary Godrej Sea View Properties Pvt Ltd to HDFC PMS for a value of Rs 550 million after both companies successfully sealed a deal.

$750 million contract sealed by ST Aerospace from Jet Airways

Last Wednesday, ST Engineering of Singapore announced that its subsidiary ST Aerospace has sealed an engine maintenance deal from Jet Airways of India with a value of USD 750 million. The support and maintenance for 67 Jet Airways’ Boeing 737 plane above 10 years should be supplied by ST Engineering and ST Aerospace.

Petrol, diesel price hike affects 13 cities starting April 1

Starting April 1, there will be 13 cities - Delhi, Mumbai, Sholapur, Chennai, Hyderabad, Bangalore, Pune, Lucknow, Agra, Kanpur, Surat, Ahmedabad and Kolkata - ready to switch usage of fuel from Euro-III grade to cleaner Euro-IV grade, since costs of both Petrol and diesel loom to increase by 50 paise every litre.

7-8% price hike looms for ITC Foods

Chitranjan Dhar, the Divisional Chief Executive of ITC Foods, stated in a dialogue meeting that the corporation just cannot keep up with the increasing input costs any longer thus, an immediate plan to get product costs higher by 7-8% in the coming two months is inevitable.

Glenmark to wait 10 months for FDA’s approval of Oxycodone

According to Glenmark Generics, its drug Oxycodone Hydrochloride capsules and liquid solutions was applied to the US Food and Drug Administration (FDA) by their associate Lehigh Valley Technologies or LVT as new drug application or NDA. However, ten months is the waiting period for FDA’s approval.

GM-US joint venture spearheads biofuel project in India

The development of jatropha-to-biodiesel project in India will be spearheaded by GM and US Department of Energy (DoE) after they agreed to a five-year joint venture contract. This project’s objective is to make the jatropha plant productive by improving its system as a self-sufficient biofuel energy crop.

Six top telecom carriers join 3G spectrum auction

In an announcement made by the Department of Telecommunications through its website, the nation’s six leading private mobile carriers namely Aircel, Tata Teleservices, Vodafone Essar, Bharti Airtel, Reliance Communications, and Idea Cellular will be joining the fast-approaching third-generation or 3G spectrum auction starting April 9.

Bharti Airtel acquires majority of Zain’s business in Africa

Bharti Airtel officially became the top 2 mobile company in Africa by finalizing an agreement to acquire majority of Kuwaiti-based Zain’s business in Africa worth USD 9 billion thus, creating a strong resistance in terms of monetary matters and administration to the largest operator in India.

Mobile number portability in market by end of June says govt

Last Tuesday, the government announced that mobile network operators must prepare for more delay in the product launch of mobile number portability by end of June through system enhancement. The launching date in all telecom sectors of the mobile number portability, a number-retention feature upon user-switch of providers, is on March 31.

ITNL upbeat on consistent future gains

In spite of falling short to market predictions to reach Rs 300-mark, IL&FS Transportation Networks or ITNL, with only 3.33% more than Rs 258 - its issue price - and listed shares with a value of Rs 266.60 for every share, still shows optimism for consistent future gains.

 

Free Tip

Buy ITNL around 278 tgt 300 - 310 in a month’s time

 

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Global Agribusiness Offshore Fund commenced by Deutsche MF

DWS Global Agribusiness Offshore Fund, an open ended overseas fund, was the most recent funds system commenced by Deutsche Mutual Fund. The investment goal of this scheme includes extended period of productive capital through investment primarily in units of mutual funds abroad with concentration on agricultural industry.

April 5, day of enlisting Pradip Overseas’ equity shares

April 5, 2010 will be the schedule for enlisting the equity shares of Pradip Overseas, a textile producer with market concentration on house linen merchandise. Last March 11-15, during the latest public issue, 1.06 crore shares amounting to Rs 110 for every share were issued by the company. Grey Market Premium is around 6- 8 with negligible volume.

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Daiwa Securities Group buys all AMC stakes from Shinsei Bank

According to Shinsei Bank Limited, Daiwa Securities Group, shared venture of Daiwa Securities Group Inc. and Daiwa Asset Management Co. Ltd., will buy all its stakes in the investment manager of Shinsei Mutual Fund, Shinsei Asset Management (India) Private Limited (AMC), after it concurred to a deal with Daiwa Securities Group in selling those stakes.

ElectroSteel Integrated submits DRHP

Electrosteel Group subsidiary, ElectroSteel Integrated, submitted a draft red herring prospectus or DRHP for a 36,87,72,000-shares IPO wherein an inclusion of a green-shoe option in the order of 5,53,15,800 equity shares is imminent. Non-implementation of green-shoe option results to the issue comprising the firm’s 18.13% of fully diluted post issue paid-up capital.

India set to dethrone China for most upbeat economy

SBI Mutual Fund’s Chief Investment Officer, Mr Navneet Munot, revealed that in this decade, chances are very strong for China to be dethroned by India when it comes to economic upturn. This milestone can be readily achieved through a mixture of constructive outlook on currency, enhanced development prospective and more soaring interest rates.

Via IPO, draft prospectus filed by Avantha Power for Rs 1,250cr

Avantha Group subsidiary and previously recognized as BILT Power, Avantha Power & Infrastructure, completed its filing of draft red herring prospectus or DRHP with SEBI. By means of an IPO, accumulating an amount of more or less Rs 1,250 crore has been planned by this top corporation.

NHAI granted Rs 10 billion order to JMC Project

National Highways Authority of India (NHAI) has granted an Rs 10 billion order to Kalpataru Power Transmission Ltd’s unit, JMC Projects (India) Ltd. The scope of the project includes the creation and development of a highway composed of four lanes between Haryana’s Bawal and Rohtak section.

Murugappa Group buys DBS stake in India fund unit

The largest bank of Southeast Asia, DBS revealed that Chennai-based Murugappa Group will purchase stake worth Rs 91 per share in its Indian mutual fund unit. Moreover, Cholamandalam DBS Finance, a shared business enterprise between DBS of Singapore and Murugappa Group of India, manages DBS Cholamandalam Asset Management.

Jayshree Tea acquires sugar mill in Bihar

Jayshree Tea & Industries, a BK Birla group owned company, already notified the Bombay Stock Exchange of its plan to purchase a sugar mill in Bihar amounting to Rs 112.50 crore which will be subsidized by means of combined domestic growth and arrears.

Metropolis Healthcare: ICICI Venture’s loss, TA Associates’ gain

ICICI Venture, the 25% stakeholder in Metropolis Healthcare, will most probably part ways with the company soon. However, TA Associates, a European private equity major, expects to buy a prospective stake in Metropolis with an amount of more than Rs 200 crore.

Sistema Shyam penalized Rs 500cr by Central Bank of India

Sistema Shyam Teleservices (SSTL) was penalized with an amount of Rs 500 crore by Central Bank of India. According to Sistema, the loan from Central Bank of India got a 2-year sanction with a deal to pay back the whole amount after the maturity period.

Hitachi acquires another 20% stake in Telco from Tata Motors

Hitachi will now control 60% of Telcon’s operations while Tata Motors only 40% of it after Telco Construction Equipment Company Limited (Telcon), Hitachi Construction Machinery Company (Hitachi), and Tata Motors completed a deal today. Hitachi acquired 20% stake in Telco after giving a consideration of Rs 1159 crores to Tata Motors.

IIM’s CAT project slipping away from NIIT’s

NIIT, the worldwide leader in computer education, will most probably not be able to get the CAT project of IIM due to the consequence to the procedural glitches tarnishing the Common Admission Test (CAT) 2009 which was carried out by IIMs or Indian Institutes of Managements.

Appropriate costing essential for Indian small car industry

The renowned major car manufacturers in the world such as Toyota, General Motors, Fiat, Ford and Volkswagen (VW) have made India as a significant sourcing center due to price advantage from original raw material source. Two-thirds of the automobile industry in India comes from small car segment.

Three Hong Kong logistics firms being acquired by Aqua Logistics

Aqua Logistics Ltd, revealed in a press statement that its subsidiary Aqua Private Ltd is going to purchase 60% majority stake, with a value of USD 7.09 million, in the three Hong Kong based logistics firms namely: CIT Logistics Ltd, TAG Logistics Ltd and AGI Logistics Ltd.

Infosys: IT Industry does not entail tax exemptions

NR Narayana Murthy, the Founder and Chief Mentor of Infosys and AIMA's Most Admired Indian, made a statement that there is no need for IT industry to have tax exemptions thus, it should be taken away. Available market can be found in the country that gives significance to the people’s skills and abilities.

SREI Infra, no plan to sell stake in Quippo

Hemant Kanoria, the Managing Director of Kolkota-based SREI Infrastructure Finance, refute the news about the company’s plan to sell 9% stake in Quippo Wireless TT Info Services, a telecom tower corporation. According to the company’s top official, their stake is still 25% in Quippo Wireless.

RIL-RNRL company feud to end soon

The retirement of KG Balakrishnan, the Chief Justice of India, in May this year, most probably will pave the way for the finale of the most intense conflict between two scuffling companies in India, which is the RIL-RNRL, in next to no time.

Free Tip

Very Risky Buy - RNRL around 62 for 5% to 10% jump in a fortnight

Motilal’s Rakesh optimistic on earnings being the next market trendsetter

According to the CEO of Motilal Oswal Management Company, Nitin Rakesh, he’s expecting the Nifty base at 5000 since the record shows, in yesterday’s trade, that National Stock Exchange’s Nifty sustained its rising trend upon breaking the psychological 5,300-mark. He expresses optimism on the banking sector to be in control along the way.

$50-55 million QIP commenced by Jindal Stainless Steel

The QIP or qualified institutional placement of Jindal Stainless Steel amounting to USD 50-55 million was commenced by the company. Moreover, QIP has a floor price of Rs 105.13 for every share thus paving the way to a dilution of 13% post issue. The lone banker of the issue is JM Financial. Both domestic and foreign institutional investors applauded this endeavour.

Dangers in microfinancing industry revealed

During the draft red herring prospectus for initial public offering (IPO) of SKS MicroFinance Ltd, some dangers occurring in the business were emphasized such as brutal crime, swindle, minor robbery, and fraud. The business dangers are complex because of top level assignment of duties and authority which microfinance industry form entails.

Government to sell Rs 2.87 trillion bonds-worth

During the first half of year 2010 to 2011, Rs 2.87 trillion or USD 64 billion of bonds are to be sold by the government. The figure is fewer than anticipated, which was only 63% of its record one-year goal thus, paving the way for yields to a losing note.

15% Rubber price hike by April probable

The majority of tyre manufacturers already increased costs by 2 - 6% this March while rubber costs, comprising the 45% of entire raw material cost, has just recorded 18 month highs until this month. Furthermore, last week, rubber cost Rs 150 per kg. Thus, it’s probable that rubber price hikes by 15% beginning April.

Jhaveri to impart experience as the new Citigroup head in India

Pramit Jhaveri, an experienced Citigroup head of global banking in India and vice chairman of Asia investment banking, was appointed by the company last Monday as the new head for business operation in India to take over the position from former India head Mark Robinson - now with Australia and New Zealand Banking group.

Fund managers’ perspective of tax saver Mutual Funds

Jayesh Shroff, the Fund Manager of SBI Mutual Fund, revealed that this year showed a remarkable market upturn so funds are focused to growth-potential sectors such as pharma and domestic consumption. As for Vinay Kulkarni, the Senior Fund Manager of HDFC Mutual Fund, 2009 was a progressive year for tax saver fund with 125% return.

Gujarat Pipavav Port IPO receives grade 4/5 from CRISIL

Planned IPO or initial public offer of Gujarat Pipavav Port (GPPL) received a grade 4/5 from CRISIL Research. Moreover, as compared to India’s other listed equity securities, the designated grade shows that the essentials of its IPO are beyond standard. Nevertheless, the grade doesn’t show appropriateness between the issue price and issue fundamentals.

Mazda, Toyota to embrace joint meeting on environmental tech

Mazda Motor Corp. and Toyota Motor Corp. made an announcement that they are going to have a joint news forum scheduled on Monday, 5:40 PM (0840 GMT) in Tokyo. Masaharu Yamaki, Vice President of Mazda Executive, together with Takeshi Uchiyamada, Vice President of Toyota Executive, stated that they are to make a press conference soon.

Restructuring of $20 billion debt an option for Dubai Holding

Dubai’s ruler investment company, Dubai Holding, may give preferences most likely to incorporate restructure plan around USD 20 billion value of debt. This corporation which is involved in hospitality and real estate along with financial investments could assign a monetary consultant to look at the loans rescheduling on the succeeding months.

SAIL expects costs of steel to hike Rs 1500-2000 per tonne this April

Steel Authority of India or SAIL reported that an increase by Rs 1,500 - 2,000 per tonne in the costs of steel is very imminent starting April 1. Moreover, the steel major gave details that they will probably conform to USD 200 per tonne for imported coking coal.

Colgate acquires 25% stake in CC Health Care

According to Colgate Palmolive (India) Ltd in a press statement last Monday, the company already purchased 25% stake in CC Health Care Products Ltd for Rs 6.91 million. Starting March 29, Colgate, 75% stake-holder in the CC Health Care, will now gain full ownership of the subsidiary.

Markets increase while NAVs progress intensely

As the benchmark Nifty made progress last Friday, the equity diversified NAVs concluded the day with a soaring advance:decline of 236:13. Those shares in various companies in select pharma, metal, cement, banking & financial, auto, and oil & gas also received significant attention from buyers.

Reliance Life selling 26% stake to Swiss Re probable

Swiss Re, a Zurich-based re-insurer, may end up as the buyer of 26% stake of Reliance Life Insurance Co. Ltd., a unit of Reliance Capital (managed by Anil Dhirubhai Ambani Group control), for a price that’s just about USD 154.9 million or Rs 7 billion.

JP Morgan pay out problem in Washington Mutual meets FDIC snag

In a report by Federal Deposit Insurance Corporation (FDIC), it hasn’t embarked bankruptcy restructuring plan of Washington Mutual Inc. as well as the colossal tax refund to JPMorgan Chase & Co. After purchasing the banking subsidiary of Washington Mutual in 2008, JP Morgan is set to receive tax benefit worth USD 1.4billion.

Standard Chartered eyeing India as market prospect

According to NS Kishore Kumar, HDFC Bank country head of investment banking, the issuance of Indian Depositary Receipts (IDRs) by Standard Chartered or Stanchart, a bank rich in British legacy, in the near future will create a milestone for the Indian capital market and attract global business investors as well.

Ankleshwar unit manufacturing operation stopped by Bayer CropScience

Last Friday, according to Bayer CropScience, the state officials ordered the company to stop its business production and manufacturing operation on March 11 at its Ankleshwar unit in Gujarat because the place was under fire. Thus, the said unit was considered hazardous for work during that time.

IPO of IntraSoft Technologies has almost 19 times more subscription

According to NSE website, the record shows that the 37 lakh equity shares IPO of IntraSoft Technologies, the www.123greetings.com proprietor, made 18.95 times more subscription as it ended this day. Thus, various investors showed optimism as they imparted awesome remarks to the company’s Rs 53.65 crore IPO.

Reliance Communications reached 100 million subscribers; offers free services

Reliance Communications obtained a landmark of being the second Indian cellular provider to reach the number of subscribers of 100 million. The company President Mahesh Prasad stated that they aim to provide free mobile services to their subscribers on Sunday.

Sundaram BNP Paribas Balanced Fund dividend announcement made

Sundaram BNP Paribas Mutual Fund publicized a 45% dividend (example, Rs 4.5 per unit on Rs 10 face value) in Sundaram BNP Paribas Balanced Fund. March 30, 2010 is the schedule for dividend. Valid investors will get the dividend once applied under Sundaram BNP Paribas Balanced Fund’s dividend option on above-mentioned date.

Pipavav stake sold for Rs 656 crore by Punj Lloyd

Bhavesh Gandhi, Executive Vice-Chairman of Pipavav Shipyard, verified the news broadcast that the tactical parting ways of Punj Lloyd and Pipavav is a mutual choice made by both co-promoters SKIL Infrastructure and Punj Lloyd. Thus, according to him, SKIL strengthens its place in Pipavav.

Luv Chabbra, Director of Corporate Affairs at Punj Lloyd, stated that no quick action must be made to leave stake in Papavav, perhaps they need to concerntrate on their core industry.

Un-officially, Punj Lloyd needs money and hence the stake sale even at the discounted price.

SKIL will have to offer to the public around Rs 61. We do not recommend to tender in your shares but hold Pipavav Shipyard for atleast 6 months to double your money. If you do not have it buy now.

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IPO of Goenka Diamond has only 1.07 times subscription

As Goenka Diamond and Jewels gained assistance from NII or non-institutional investors, the company’s Rs 145-crore public issue made subscription 1.07 times. With three times subscription presently, NII’s reserved portion made subscription seven times more during the issue’s first day but almost half of them pulled their applications out the next day.

Kishore Biyani discloses future plans for Future Group

Kishore Biyani, India’s retail king, revealed his outlook for “Future Group” and his voyage on business world to date. Now, he includes financial services, life insurance as well as telecom to the growing list of his ventures in Indian market after leading Big Bazaar and Pantaloon stores to greater heights.

Larsen & Tourbo granted $82 million Oman project for power upgrade

According to a board official last Sunday, Larsen & Tourbo, an engineering company, was granted a project worth USD 81.8 million or 31.5 million rials aimed to widen up and improve the power supply system in the Dhahira region in Oman particularly in Ibri and Dhank.

Zain and Bharti to seal pact few months from now

Asaad al-Banwan, Zain Chairman, informed the people, in a conversational talk with Al Arabiya television broadcasted last Saturday, that the signing of contract between Zain, a Kuwaiti telecom company, and Bharti Airtel will occur in the coming days but the pact will be closed few weeks from now or even months.

RBI’s perspective on India’s bond market growth assessed by experts

Shyamala Gopinath, Deputy Governor of Reserve Bank of India (RBI), presents the viewpoint of RBI regarding various issues such as interest rate futures, corporate bonds as well as credit default swaps. The company may have assumed that it already accomplished its speck on settlement and clearing issues in corporate bonds.

HDFC expects 50 to 75 bps more in repo rates in 2010

According to the chairman of HDFC, Deepak Parekh, the investments of HDFC in its non-core industry is to be shifted into SPV or special purpose vehicle wherein financing can be via private equity participation. Moreover, by the end of the year effective lending rates will rise to 50 - 75 bps without progression.

European Union summit plans fuel worries of two-rate Europe

Euro zone states concurred during the European Union summit to assist debt-burdened Greece but worries recurred that a gap begins to show among EU nations which utilize euro and those which are not. According to an envoy from Eastern and Central Europe, planning pertaining to entire EU must be only discussed by recognized EU committees.

Satluj Jal Vidyut IPO to be expected in week one of May

Satluj Jal Vidyut Nigam Limited (SJVNL) initial public offering or IPO appears to be expected in the first week of May. Since there are still vacant positions in the board for two independent directors. With three newly-assigned independent directors so far - IPO seems to be behind schedule.

MBL Infra eyes Rs 1000cr revenue in FY11

Last Thursday, according to a chief representative, MBL Infrastructure intends returns of Rs 1,000 crore for FY11 and shows optimism to receive more orders amounting to Rs 1,200 crore in June. Anjanee Kumar Lakhotia, corporation’s CEO, informed that they own live agreements costing Rs 1,280 crore.

Key takeaways from RBI's Financial Stability report

The Reverse Bank of India stated in its first and only Financial Stability Report that in spite of having major predicaments in inflation as well as government market borrowing, the economic growth remains productive. Moreover, banks in India are funded sufficiently to overcome economic downturn pressure.

Ruchi Soya & IOC ink LLP agreement to produce biofuels

Ruchi Soya Industries (RSIL), an Indore base, and Indian Oil Corporation (IOCL), an oil major, agreed to form ‘Indian Oil Ruchi Biofuels LLP’ by signing Limited Liability Partnership Agreement. The UP Government, under the National Rural Employment Guarantee Scheme (NREGS), will carry fraction of whole project cost amounting to Rs 436.63 crore.

JSPL starts ops in Bolivia, says most issues resolved

Last Tuesday, according to Arvind Sharma, head of Jindal Steel & Power’s unit in the Andean country, the corporation has agreed to make USD 2.1 billion investment in Bolivia. Sushil K. Maroo, the corporation’s director, stated that JSPL already began iron-ore mining in Bolivia.

Shoppers Stop maintains same-store sales growth at 20%

Various retail corporations in India have already experienced tough times in the previous years. Nevertheless, in case similar store sales are any hint, the rush of buyer outlook may be changing soon. There are key widening-of-operation plans for implementation by Shoppers Stop.

Execution risk looms large for Bharti in Africa

Bharti Airtel is presently facing a rough time on its third try within two years. This is because it’s on the brink of becoming Africa’s number 2 upon completion of USD 9 billion acquisition of majority of Zain's businesses across the continent while the finances and management are to be extended.

Union Bank, Belgian KBC to invest 50 m euros in JV

Last Friday, M V Nair, the Indian bank’s Chairman and Managing Director, stated that in a mutual fund joint venture arrangement by Union Bank of India and Belgium’s KBC, they will collectively make a 50 million-euro investment. 51% stakeholder will be Union Bank while the remaining is KBC.

IDBI Bank MF subsidiary receives AMC license from SEBI

In the near future, IDBI Asset Management Ltd. (IDBI AMC), a fully-owned subsidiary of IDBI Bank Ltd., is all set to start promoting its merchandise across the equity and fixed income classification, after getting a license from Securities and Exchange Board of India (SEBI) to commence marketing MF operations.

NAVs close higher as markets gain

While the benchmark Sensex skyrocketed over 100 points, the equity diversified NAVs closed higher gaining an advance:decline ratio of 206:41 after the day. Those shares of various companies in telecom, select technology, metal, FMCG, capital goods, and banking got significant attention also from buyers.

Goenka Diamond's Rs 145-cr IPO subscribed 1.07 times

According to the National Stock Exchange or NSE, the record shows that the Rs 145-crore initial public offer or IPO of Goenka Diamond and Jewels managed to get subscription 1.07 times only. Lots n Lots of investors had withdrew the application.

Acropetal Technologies to raise Rs 170 cr via IPO

A leading provider of IT solutions and services, Acropetal Technologies, with its IPO or initial public offering of its equity shares, made a successful head-start in the capital market after filing its DRHP or draft red herring prospectus last March 17, 2010 with the Securities & Exchange Board of India.

Goenka Diamond and Jewels IPO Analysis

Goenka Diamond and Jewels Limited (GDJL) was incorporated in November 1990 as Goenka Exports Private Limited (GEPL) and was converted into public company on April 2008. The company’s business involves cutting and polishing rough diamonds, and manufacturing and retailing jewellery. Its product profile includes rings, earrings, pendants, bracelets, necklaces, etc. which are manufactured using polished diamonds, precious and other semi precious stones which are set in gold.

The company operates diamond jewellery business under two brands viz. CERES and G WILD catering to specific segments. It retails high end diamond jewellery under the CERES brand targeting the top-end segment of the society while G WILD focuses on internationally designed diamond jewellery targeting the youth. The company runs an integrated business model that includes sourcing of rough diamonds from various sources including its Russian Subsidiary, polishing roughs for export market and internal consumption, jewellery manufacturing and sale of jewellery through its retail chain.

Issue Objectives

• To meet the expenses of establishing stores for G WILD and CERES brand


• To meet working capital requirements for retail jewellery business


• To meet the expenses of establishing a jewellery manufacturing facility in Mumbai


• To meet the expenses of establishing a diamond processing facility in Mumbai


• Further invest in the equity capital of its Subsidiary

IPO Grading / Rating
ICRA has assigned an IPO Grade 2 indicating below average fundamentals.

Issue Open: Mar 23, 2010 - Mar 26, 2010
Issue Type: 100% Book Built Issue IPO
Issue Size: 10,000,000 Equity Shares of Rs. 10
Issue Size: Rs. 135 - 145 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 135 - Rs. 145 Per Equity Share
Market Lot: 40 Shares
Minimum Order Quantity: 40 Shares
Listing At: BSE, NSE

For our analysis, visit our IPO Center

Intrasoft Technologies IPO Analysis

Intrasoft Technologies Ltd. (ITL) was incorporated as Regency Extrusions & Plastics Pvt Ltd in February 1996. The name of the company was changed to Intrasoft Technologies Pvt Ltd. in October 1997 & was further converted to Public Ltd. Company in October 2007. ITL is in the business of providing E-greeting cards, development of associated digital content & online marketing.

The content of E-greeting cards are developed in-house including artistic, photographic and musical content. The company provides E-greeting card services through website, www.123greetings.com , which is the largest electronic greeting cards website in India and 2nd largest (by number of unique visitors) in the world with 9,12,55,566 unique visitors during the twelve month period from November 2008 to October 2009. 123greetings has range of over 20,000 E-greeting cards designed to cater to varying geographical and religious celebrations, occasions and other events.

Issue Objectives

• Branding and Promotion


• Purchasing a Corporate Office at Kolkatta


• Investment in technology infrastructure

IPO Grading / Rating
Credit Analysis and Research Ltd. (CARE) has assigned an IPO Grade 3 indicating average fundamentals.

Issue Open: Mar 23, 2010 - Mar 26, 2010
Issue Type: 100% Book Built Issue IPO
Issue Size: 3,700,000 Equity Shares of Rs. 10
Issue Size: Rs. 50.69 - 53.65 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 137 - Rs. 145 Per Equity Share
Market Lot: 40 Shares
Minimum Order Quantity: 40 Shares
Listing At: BSE, NSE

For our analysis, visit our IPO Center

Shree Ganesh Jewellery House IPO Analysis

Shree Ganesh Jewellery House Ltd.(SGJHL) was originally incorporated in Kolkata in 2002, which was converted into a public limited company on August 14, 2007. SGJHL is engaged in trading and manufacturing & export of gold & gemstone and diamond studded jewellery for the last 70 years. It is one of the largest manufacturers and exporters of handcrafted gold jewellery in India. SGJHL products are mainly exported to countries such as the U.A.E, Singapore and Hong Kong. The company has four manufacturing units, located in Manikanchan SEZ at West Bengal.

Issue Objectives

• Setting up a manufacturing unit at Mondalpara, West Bengal for the manufacture of plain and studded gold jewellery
• Setting up a new manufacturing unit at Domjur, West Bengal
• Expansion of manufacturing facility at Manikanchan SEZ by setting up of a facility for the manufacture of diamond studded jewellery
• Setting up retail outlets for sale of jewellery manufactured by the Company and meeting marketing costs
• To meet the working capital requirement, general corporate purposes and the issue expenses

IPO Grading / Rating
Credit Analysis and Research Ltd. (CARE) has assigned an IPO Grade 3 indicating average fundamentals.

Issue Open: Mar 19, 2010 - Mar 23, 2010
Issue Type: 100% Book Built Issue IPO
Issue Size: 14,269,831 Equity Shares of Rs. 10
Issue Size: Rs. 371.02 - 385.29 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 260 - Rs. 270 Per Equity Share
Market Lot: 25 Shares
Minimum Order Quantity: 25 Shares
Listing At: BSE, NSE

For our analysis, visit our IPO Center

Persistent Systems IPO Analysis

Persistent Systems Ltd. (PSL) was incorporated as Persistent Systems Pvt. Ltd. in May 1990 and was converted to Public Ltd. Company in September 2007. PSL is a technology company that specializes in outsourced software product development. It delivers services across the value chain of product development i.e. product conceptualization, design, development, testing and support. Company has significant domain expertise in telecommunications, life sciences & healthcare and infrastructure and systems.

The company has offshore development centres located in Pune, Nagpur, Goa and Hyderabad. It also has nine development centers in Europe, America and Asia. In FY 09, the company had 297 customers, of which the top 10 customers accounted for around 37% of its revenues. The company worked with customers in the US, Canada, Norway, Sweden, Netherlands, France, Germany, Ireland, the United Kingdom, India, Japan, New Zealand, Australia and Singapore last fiscal year.

Issue Objectives

• For the establishment of development facilities
• For procurement of Hardware
• To establish development facilities and meeting fit outs and interior design costs

IPO Grading / Rating
ICRA has assigned an IPO Grade 4 indicating above average fundamentals.

Issue Open: Mar 17, 2010 - Mar 19, 2010
Issue Type: 100% Book Built Issue IPO
Issue Size: 5,419,706 Equity Shares of Rs. 10
Issue Size: Rs. 157.17 - 168.01 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 290 - Rs. 310 Per Equity Share
Market Lot: 20 Shares
Minimum Order Quantity: 20 Shares
Listing At: BSE, NSE

For our analysis, visit our IPO Center

IL&FS; Transportation Networks IPO Analysis

IL&FS Transportation Networks Ltd. (ITNL) was formerly known as Consolidated Transportation Networks Limited and changed its name to IL&FS Transportation Networks Limited in September 2005. It is an established surface transportation infrastructure comp any, and is one of the largest private sector BOT (Build Operate Transfer) road operators in India.

ITNL has been involved in the development, operation and maintenance of national and state highways, roads (including urban roads), flyovers and bridges in Andhra Pradesh, Delhi, Gujarat, Maharashtra, Karnataka, Uttar Pradesh, Kerala, Jharkhand and Rajasthan.

ITNL generate revenues primarily from Elsamex's, a provider of maintenance services primarily for highways and roads in Spain and other countries, maintenance business and from annuity receipts, toll collection, operation and maintenance activities and advisory and project management fees from BOT road projects.

Some of the renowned completed and operating projects of the company include North Karnataka Expressway, NOIDA Toll Bridge, West Gujarat Expressway. Gujarat Toll Roads.

Issue Objectives

• Funding pre-payment and repayment of a portion of debt availed by the Company while the proceeds from the Offer for Sale will not received by the company

IPO Grading / Rating
ICRA has assigned an IPO Grade 4 indicating above average fundamentals.

Issue Open: Mar 11, 2010 - Mar 15, 2010
Issue Type: 100% Book Built Issue IPO
Issue Size: Equity Shares of Rs. 10
Issue Size: Rs. 700 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 242 - Rs. 258 Per Equity Share
Market Lot: 25 Shares
Minimum Order Quantity: 25 Shares
Listing At: BSE, NSE

For our analysis, visit our IPO Center

Pradip Overseas IPO Analysis

Pradip Overseas Ltd. (POL) was originally formed as a partnership firm in the name of M/s. Vishal Textile in April 2005. Subsequently, name was changed to M/s. Chetan Textiles and was converted into private company in June 2005. In August 2006, it converted into a public Ltd. company. In October 2007, Chetan Textiles Ltd., merged the textile division of Pradip Overseas Ltd. and its name was changed to Pradip Overseas Ltd.

POL is into textile manufacturing with niche focus on home linen. POL processes grey fabric and manufactures home textile made ups like beds-sheets, curtains, comforters, quilts (poly/cotton filled), duvet covers, pillow covers and mattress covers. In addition to its range of home linen products, POL also sells fabric for consumption in local as well as international markets. POL’s key markets are India, Europe, USA and Africa. Export turnover for 2008-09 accounted for approximately 47.5% of the overall turnover. Majority of POL’s exports were indirect exports (almost 93% of total exports) i.e. through agents of international retailers.

Issue Objectives

• To part finance the setting up of the proposed manufacturing facility within the proposed Textile SEZ
• To part finance the incremental margin money requirement for working capital

IPO Grading / Rating
ICRA has assigned an IPO Grade 2 indicating below average fundamentals.

Issue Open: Mar 11, 2010 - Mar 15, 2010
Issue Type: 100% Book Built Issue IPO
Issue Size: 10,600,000 Equity Shares of Rs. 10
Issue Size: Rs. 106.00 to 116.60 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 100 - Rs. 110 Per Equity Share
Market Lot: 60 Shares
Minimum Order Quantity: 60 Shares
Listing At: BSE, NSE

For our analysis, visit our IPO Center

Re: Budget Special Nifty Option Free tip

Yes the original call has not gone the way we had anticipated.

We had asked to average it only once and hence expecting the cost price to be around 85-90.

We do not suggest to book loss now and neither do we recommend averaging any more.

Just hold it for some time and you would see your cost atleast.

Best Wishes
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On Fri, Feb 26, 2010 at 12:45 PM, VJ DS <[email protected]> wrote:

Avg 4800 Nifty Put now arnd 68 - Market to correct in the coming days/time - VJonDalalStreet 09951856201

On Thu, Feb 25, 2010 at 2:37 PM, VJ DS <[email protected]> wrote:

Every now and then VJonDalalStreet posts free tips for the benefit of investors/traders.

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