Research outlook webinar on 29.09.2020
Research outlook webinar on 29.09.2020
Sunday, September 27, 2020
Buzzing Stock ONGC
Buzzing Stock ONGC
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Buzzing Stock ONGC
Buzzing Stock ONGC
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Buzzing Stock Balrishna Industries
Buzzing Stock Balrishna Industries
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Buzzing Stock Balrishna Industries
Buzzing Stock Balrishna Industries
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Gold prices today fall again, down Rs.6500 from record highs; silver plunges : 28.09.2020
Gold prices today fall again, down Rs.6500 from record highs; silver plunges : 28.09.2020
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Gold prices today fall again, down Rs.6500 from record highs; silver plunges : 28.09.2020
Gold prices today fall again, down Rs.6500 from record highs; silver plunges : 28.09.2020
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Market LIVE : Sensex up 400 points, Nifty tops 11,150; Banks, Auto Stocks gain : 28.09.2020
Market LIVE : Sensex up 400 points, Nifty tops 11,150; Banks, Auto Stocks gain : 28.09.2020
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Market LIVE : Sensex up 400 points, Nifty tops 11,150; Banks, Auto Stocks gain : 28.09.2020
Market LIVE : Sensex up 400 points, Nifty tops 11,150; Banks, Auto Stocks gain : 28.09.2020
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RBI's October Policy will be announced this week
RBI's October Policy will be announced this week
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RBI's October Policy will be announced this week
RBI's October Policy will be announced this week
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Nifty-Sensex View - 28.09.2020: 09.00 Am
Nifty-Sensex View - 28.09.2020: 09.00 Am
Pre-Session: Positive opening likely for Sensex, Nifty today; Financials in focus
28/09/2020 08:35
Domestic bourses are expected to start the day on a positive note on Monday amid firm global cues.
Financials will be in focus today as the Supreme Court is set to resume hearing in the loan moratorium and interest waiver case. Besides, Covid-19 trends, foreign fund flows, and stock-specific developments will also be closely tracked.
Further, Lakshmi Vilas Bank is also set to trade actively today after a large section of the bank's shareholders voted against the reappointment of the managing director and chief executive, as well as seven directors and auditors, at the recent AGM.
On Friday, the 30-share benchmark index ended at 37388.66 up by 835.06 points or by 2.28 % and then NSE Nifty was at 11050.25 up by 244.7 points.
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Register for 2 days Trial - Whatsapp - 9841986753Stocks to Watch : RIL, Lakshmi Vilas Bank, Mindtree, Dr Reddy's, Sun Pharma, Ceat : 28.09.2020
Stocks to Watch : RIL, Lakshmi Vilas Bank, Mindtree, Dr Reddy's, Sun Pharma, Ceat : 28.09.2020
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Stocks to Watch : RIL, Lakshmi Vilas Bank, Mindtree, Dr Reddy's, Sun Pharma, Ceat : 28.09.2020
Stocks to Watch : RIL, Lakshmi Vilas Bank, Mindtree, Dr Reddy's, Sun Pharma, Ceat : 28.09.2020
Stocks in the news | RIL, Usha Martin, Cummins India, Ajanta Pharma, JSW Energy
NALCO, Central Bank of India, CEAT, NCL Industries, Hero MotoCorp, Coffee Day, Thomas Cook, Grasim Industries, ISGEC Heavy Engineering, Ugro Capital are also among the stocks in focus today.
NALCO | Company signed MoU with Numaligarh refinery for long-term supply of CP coke.
JSW Energy | Subsidiary JSW Solar received Letter of Award for total blended wind capacity of 810 MW, from Solar Energy Corporation.
Reliance Industries | Subsidiary Jio partnered with Aeromobile to launch India's first in-flight mobile services. (Disclaimer: Reliance Industries (RIL), which also owns Reliance Retail, is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments)
Central Bank of India | Bank closed its QIP by raising Rs 255 crore, set issue price at Rs 15.38 per share.
CEAT | Board approved raising up to Rs 250 crore via NCDs. India Ratings assigned AA-rating with stable outlook for the company's proposed issue of NCDs. Amansa Holdings & Amansa Investements increased stake in the company to 9.29 percent from 9.17 percent earlier.
NCL Industries | The JV deal with China's Qingdao Xinguangzheng Steel Structure Company terminated as current state of bilateral relations between India & China is not conducive for the JV.
Hero MotoCorp | Harley Davidson and Hero MotoCorp likely to sign a distribution partnership in coming days - CNBC-TV18 sources.
Coffee Day | No negotiation with Tata Consumer for company's vending unit.
Thomas Cook | Board approved withdrawal of buyback of shares due to undergone substantial deterioration on account of the pandemic, global lockdowns.
Satin Creditcare Network | Promoters acquired 49,945 equity shares via open market.
Eris Lifesciences | Kuwait Investment Authority A/C Kuwait Investment Authority Fund 225 acquired 14,54,175 shares in company at Rs 540 per share. However, Himanshu Jayantbhai Shah sold 18 lakh shares at Rs 540.05 per share on the NSE.
PNB Gilts | The company announced payment redemption proceeds of commercial paper.
Sequent Scientific | Company completed sale of investments held in Strides Pharma Science.
Grasim Industries | LIC increased stake in company to 11.86 percent from 9.83 percent earlier.
ISGEC Heavy Engineering | ICRA reaffirmed credit rating to Isgec Redecam Enviro Solutions, a subsidiary and joint venture company.
Ugro Capital | Company received Corporate Agency License from IRDAI.
Usha Martin | Promoter entity Neutral Publishing House raised stake in company to 3.86 percent from 3.76 percent earlier.
Cummins India | SBI Funds Management increased stake in company to 7 percent from 6.7 percent earlier.
Ajanta Pharma | Promoter Aayush M Agrawal, Trustee Aayush Agrawal Trust created a pledge on 30,000 shares.
Jet Airways | The Committee of Creditors of Jet Airways will meet today, in what everyone hopes will be the lenders' final gathering to select the next owner of the airline that was grounded in April 2019. The airline had received bids from two suitors, both consortiums, on July 21. The first consortium was of Flight Simulation Technique Centre Pvt Ltd, Big Charter Pvt Ltd, and Imperial Capital Investments LLC.
Lakshmi Vilas Bank | Bank seeks to reassure depositors after CEO & Directors voted out in AGM against the appointment of seven directors, including CEO in AGM.
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Global Market Updates -28.09.2020
Global Market Updates -28.09.2020
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Global Market Updates -28.09.2020
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Likhitha Infrastructure IPO (Sep 29-Oct1,2020)
Likhitha Infrastructure IPO (Sep 29-Oct1,2020)
Company says there are no listed companies in India which are engaged in the same line of business.
Hyderabad-headquartered Likhitha Infrastructure's initial public offering will open for subscription on September 29. The issue will close on October 1.
Shares are expected to list on BSE as well as National Stock Exchange on October 12.
Unistone Capital is the book running lead manager to the issue.
Likhitha Infrastructure IPO
Likhitha Infrastructure IPO
) Public Issue
The IPO consists a fresh issue of up to 51 lakh equity shares representing 25.86 percent of the post issue paid up equity capital of the company.
2) Price Band
It is a book building issue. The price band has been fixed at Rs 117-120 per share.
3) Fund Raising
The company targets to raise up to Rs 59.67 crore-Rs 61.20 crore at a price band of Rs 117 - Rs 120 per share, respectively.
4) Objectives of Issue
The proceeds of the IPO will be utilised towards working capital requirements and general corporate purposes.
5) Company Profile
Likhitha is an oil & gas pipeline infrastructure service provider in India, focused on laying pipeline networks along with construction of associated facilities; and providing operations & maintenance services to the City Gas Distribution (CGD) companies in India.
Company has presence (including past operation) in more than 16 states and 2 Union Territories in India. It has successfully laid over 600 Kms of oil and gas pipelines including steel and medium-density polyethylene (MDPE) network in past 5 fiscals. Additionally, it has laid approximately 800 kms of oil and gas pipelines for on-going projects.
Company has executed the first trans-national cross-country pipeline of South-East Asia connecting India to Nepal, in 2019, for supply of petroleum products.
6) Order Book
The company has a strong client base consisting of leading gas distribution companies in India including both the private and public players and a strong order book (i.e. the unexecuted portion of the much larger total contract value) of approximately Rs 663 crore as on July 2020.
7) Financials and Peers
Likhitha Infrastructure's revenue from operations grew by 15.6 percent to Rs 161.24 crore in year ended March 2020 compared to previous year and in FY19, revenue increased 60.2 percent to Rs 139.48 crore compared to FY18. Revenue growth in FY15-FY20 stood at a 38.96 percent CAGR and profit 58.56 percent CAGR.
Profit for the financial year 2019-20 rose 11.3 percent to Rs 19.88 crore YoY and the same grew by 149.3 percent to Rs 17.85 crore in FY19 YoY, while on the operating front, its earnings before interest, tax, depreciation and amortisation (EBITDA) increased 2.6 percent YoY to Rs 29.67 crore in FY20 and 158.7 percent YoY to Rs 28.9 crore in FY19.
EBITDA margin for the FY20 stood at 18.40 percent against 20.72 percent in FY19 and 12.83 percent in FY18.
Company says there are no listed companies in India which are engaged in the same line of business.
8) Strengths
A) We have a strong presence in India and significant experience;
B) Growth is largely attributable to its efficient business model which involves careful identification and assessment of the project with emphasis on cost optimization which is a result of executing projects with careful planning and strategy
C) Strong financial performance with emphasis on having a strong balance sheet and increased profitability;
D) Scalability of operations;
E) Strong Project execution capabilities;
F) Long term relationship with clients and repeat business;
G) Highly experienced management team;
H) Diverse fleet of sophisticated equipment.
9) Business Strategies
A) Continue to expand and enhance presence in regions where it has previously developed a strong base of operations;
B) Further growth in operation & maintenance services offerings;
C) Retaining skilled manpower;
D) Company constantly endeavours to improve business operations to optimise the utilisation of resources;
E) Continue to develop client relationship and expand client base;
F) Focus on performance and project execution;
G) Continue to focus on safety and environment standards.
10) Management, Promoters and Shareholding
Likhitha Infrastructure IPO
Likhitha Infrastructure IPO
Likhitha Infrastructure IPO
Sivasankara Parameshwara Kurup Pillai is the Chairman and Non-executive Independent Director of the company. Earlier, he had worked with Newton Engineering and Construction under different capacities, last one being as its Deputy General Manager. He had also served as a Vice-President with Chemie-Tech Projects and had handled activities relating to design & construction of fuel oil refinery plant at Bahrain.
Srinivasa Rao Gaddipati is the Managing Director and is having vast technical experience of over three decades in the oil & gas infrastructure business.
Srinivasa Rao Gaddipati and Likhitha Gaddipati are promoters of the company, holding 1,42,52,875 equity shares, which constitutes 97.46 percent of the pre-issue paid-up equity share capital. Sri Lakshmi Gaddipati owns 2.5 percent shareholding in the company.
Likhitha Gaddipati, Sri Lakshmi Gaddipati and Kutumba Rao Gaddipati are Non-executive directors, while Talpa Sai Venkata Sesha Munupalle and Jnanindra Kumar Dhar are Non-executive and Independent directors.
Sudhanshu Shekhar is the Chief Executive Officer while Sambasiva Rao Ketineni is Chief Financial Officer of the company.
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