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Sula Vineyards raises Rs 288.10 crore from anchor book ahead of IPO

10. December 2022 Sharetipsinfo Trading Articles (0)

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India's largest wine producer and seller Sula Vineyards on December 9 said it has garnered Rs 288.10 crore from anchor investors, ahead of its initial public offering.

The company in its BSE filing said it has finalised allocation of 80.70 lakh shares to anchor investors, at the upper end of the price band.

The price band for the offer, which will open for subscription on December 12, has been fixed at Rs 340-357 per share. The public issue will close on December 14.

Total 22 investors bought shares of the company via anchor book including marquee participants - Abu Dhabi Investment Authority, Goldman Sachs, New York State Teachers Retirement System, Ashoka India Equity Investment Trust Plc, Segantii India Mauritius, Morgan Stanley, BNP Paribas Arbitrage, and Citigroup Global Markets Mauritius.

Domestic investors like Aditya Birla Sun Life Trustee, HDFC Mutual Fund, SBI Mutual Fund, ICICI Prudential Life Insurance, HDFC Life Insurance, Aditya Birla Sun Life Insurance, and Max Life Insurance also bought shares in the company.

"Out of the total allocation to the anchor investors, 25.21 lakh shares were allocated to 3 domestic mutual funds through a total of 5 schemes," Sula Vineyards said.

Sula Vineyards aims to raise more than Rs 960 crore by issuing over 2.69 crore shares via IPO. It is entirely an offer for sale by promoter Rajeev Samant, and investors Cofintra SA, Verlinvest SA, Verlinvest France SA, Saama Capital III Ltd, SWIP Holdings, and Haystack Investments.

Reliance Industries makes rare buy of Russian naphtha, ups fuel oil imports

2. December 2022 Sharetipsinfo Trading Articles (0)

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India's Reliance Industries, operator of the world's largest refining complex, is snapping up Russian refined fuels, including rare purchases of naphtha, after some Western buyers stopped Russian imports, trade flows data from Refinitiv showed.

Western sanctions against Russia over its invasion of Ukraine have led to an emergence of rare trade routes for Russian crude and refined products that were mainly sold to European countries.

India imported about 410,000 tonnes of naphtha, used for making petrochemicals, in Sept-Oct, the Refinitiv data showed.

Of this figure, Reliance received about 150,000 tonnes from the Russian ports of Ust-Luga, Tuapse and Novorossiysk during the two months, the data showed.

The private refiner did not buy Russian naphtha in 2020 and 2021. Its annual imports of Russian naphtha were restricted to just one parcel in four years to 2019, the data showed.

The data showed a panamax carrier Okyroe sailing towards India laden with about 59,000 tonnes of Russian naphtha.

"With European countries shutting down Russia, they need to find outlets for their naphtha," a trader based in India said, referring to Russian firms.

Russian naphtha is being sold at lower premiums to countries like India, two Asian naphtha traders said.

FUEL OIL IMPORTS SURGE

Reliance, its two plants together capable of processing 1.4 million barrels of oil a day, has emerged as a key buyer of Russian oil since Moscow's February military action in Ukraine.

It also buys straight run fuel oil from countries, including Iraq and Russia, to process at cokers in the two refineries in the western Indian state of Gujarat to boost refining margins.

Reliance's fuel oil imports from Russia have surged to a record 3 million tonnes since the beginning of this fiscal year in April, versus about 1.6 million for all of 2021/22, Refinitiv data shows.

Reliance is expected to receive about 409,000 tonnes of fuel oil in December, the data showed.

Reliance did not respond to Reuters emails seeking comments.

Mission Prarambh | Vikram-S takes off: All you need to know about India's first private sector rocket

18. November 2022 Sharetipsinfo Trading Articles (0)

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The country's first privately developed rocket Vikram-S blasted off on its maiden flight from the Indian Space Research Organisation’s Sriharikota spaceport, about 115 kms from Chennai, at 11.30 am on November 18.

The Mission Prarambh (the beginning) is a major milestone in India's space journey, making Skyroot Aerospace the first private company to launch its rocket two years after the sector was opened to private players.

Named after Vikram Sarabhai, the founder of India’s space programme, Vikram-S carries three satellites, including one by SpaceKidz India called FunSat, parts of which were developed by school students.

Its previous November 12 launch date was called off due to bad weather.

The Vikram rockets will be able to carry between 290 kg and 560 kg payloads into sun-synchronous polar orbits. The rocket is one of the world's first few all-composite rockets that has 3-D printed solid thrusters for spin stability of the launch vehicle.

This launch will aid in the validation of many technologies for Skyroot Aerospace's other launch vehicles in the Vikram series, such as Vikram I/II/III, and will also play an important role in determining when Vikram I will launch next year.

(This is a developing story. Keep following the space for updates.)

Crunchy debut for Bikaji Foods as shares open 7.5% above IPO price

16. November 2022 Sharetipsinfo Stock Market Research, Trading Articles (0)

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Bikaji Foods International: Bikaji Foods International to make a debut on November 16. The country's third largest ethnic snacks company will make its grand debut on the bourses on November 16. The issue price has been fixed at Rs 300 per share.

Snacks company Bikaji Foods made a firm start on the bourses on November 16 as the stock traded 7.6 percent above the IPO price of Rs 300, listing at Rs 321.15 on the BSE and at Rs 322.80 on the National Stock Exchange.

The Rs 881-crore initial public offering (IPO) was subscribed 26.67 times during the November 3-7 period backed by qualified institutional buyers. QIBs subscribed more than 80 times their quota of shares and high net-worth individuals over seven times. The portions set aside for retail investors and employees were subscribed 4.77 and 4.38 times.

The ethnic snacks company had fixed the price band for the issue at Rs 285-300 a share.

Analysts like that the company leads in its core states (Rajasthan, Assam, and Bihar) and boasts an international footprint, a healthy top line and a strong management team

Speaking to CNBC-TV18, Rishabh Jain, CFO, Bikaji Foods said, “We are looking at double-digit margin in the second half of this year. We don’t need major capex for next 3-4 years. Core markets are 72 percent of total business and we will be focussing on growing that. Uttar Pradesh is the biggest market for us.”

Revenue from operations grew 22.90 percent to Rs 1,610.96 crore for FY22 from a year ago. However, net profit declined to Rs 76.03 crore in FY22 as against Rs 90 crore in FY21 on the back of high input costs. “Sustainability of margins going forward amidst stiff competition raises concerns,” said Manoj Dalmia, founder and director, Proficient Equities.

Bikaji Foods competes with Haldiram’s, the market leader in traditional savouries and snacks in India. Owners of Haldiram's are related of the promoters of Bikaji Foods. Bikanerwala Foods, Balaji Wafers, Prataap Snacks, DFM Foods, Pepsi and ITC are the other players in the segment.

Why Nifty Is Falling Today

22. November 2021 Sharetipsinfo Stock Market Research, Trading Articles (0)

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Reasons Why Nifty is falling like anything:

Covid lockdowns:

Austria said it would reintroduce lockdowns -- and make vaccination mandatory from February -- to fight a worrying jump in new infections. Other countries including Germany, Slovakia, the Czech Republic and Belgium were also bringing in measures.

Rate hikes earlier than expected:

Bundesbank president Jens Weidmann publicly contradicted the European Central Banks official line on Friday, warning that inflation may stay above 2 per cent for some time and that the ECB should avoid any commitment to keeping the money taps open.

Crude oil falls:

Oil extended losses as major consumers including the United States considered releasing some of their reserves to keep a lid on prices, which have been a key reason for the jump in inflation this year.

Broader markets:

Broader market indices were trading down, underperforming their headline peers in morning trade. Nifty Smallcap was down 0.84 per cent while Nifty Midcap declined 0.83 per cent. Broadest index on NSE, Nifty 500 was down 0.58 per cent.

Global markets:

Asian markets mostly fell Monday. In early trade, Tokyo, Hong Kong, Sydney, Wellington, Taipei, Manila and Jakarta were all down, though there were gains in Seoul and Singapore.

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Nifty Opening Note

17. February 2021 Sandeep Trading Articles (0)

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Indian Stock Market Trading View For 17 Feb,2021:

Stock specific action is expected in the market. Nifty to turn volatile as the day progresses.

Nifty spot if manages to trade and sustain above 15340 level then expect some upmove and if it breaks and trade below 15280 level then some decline can be seen in the market. Please note this is just opening view and should not be considered as the view for the whole day.

MSCI tweak lifts Sensex by 377 pts, Nifty ends near 11,900; Kotak Bank gains 12%

27. October 2020 Maria Trading Articles (0)

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Indian shares reversed course to end higher on Tuesday on hopes of higher inflows after MSCI said it will make changes to its global indexes following revisions in the country's foreign ownership limits
Market closing
Indian benchmark share indices reversed early losses to settle higher on Tuesday on hopes of higher inflows after MSCI said it will make changes to its global indexes following revisions in the country's foreign ownership limits.
Sensex settled at 40,522.10, up 376.60 or 0.94%, while Nifty closed 121.65 points or 1.03% higher at 11,889.40.
Kotak Mahindra Bank, closing over 11% higher, was the top Sensex gainer followed by Nestle India, Asian Paints, Bajaj Finance and NTPC. TCS, HDFC, ONGC and Infosys were among the laggards. Of 30 Sensex shares, 19 closed in the green.
Kotak Mahindra Bank shares continue to gain
Shares of Kotak Mahindra Bank further gained nearly 12% in early trade on Tuesday after the company reported a 22 per cent growth in consolidated net profit for the July-September quarter. The stock jumped 12% to ₹1584.75 on the BSE.
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Indian stocks rally on MSCI move to revise foreign ownership limits

27. October 2020 Maria Trading Articles (0)

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MSCI on Tuesday said it will implement changes in foreign ownership limits in the MSCI Global Indexes, which will contain Indian securities. It will implement the changes at the close of 30 November, effective 1 December.

Indian shares recouped earlier losses and were higher on Tuesday on hopes of higher inflows after MSCI's announcement to rejig indices. Analysts believe that the changes are expected to rope in billions of dollars in domestic stocks where the foreign ownership limit will increase.

According to the Morgan Stanley report, Kotak Mahindra Bank, PI Industries and Ipca Laboratories are likely to be included into MSCI indices, leading to massive inflows to the tune of $2.5 billion via passive funds.

"MSCI India's weight in MSCI EM will increase to 8.7% (weight increases for current constituents) and 8.8% (new additions) from the current level of 8.1%, and passive inflows of $1.93 billion and $600 million, respectively", Morgan Stanley report added.The biggest beneficiaies will be Asian Paints, Bajaj Finance, Britannia, L&T and Nestle India that can see inflows in the range of $100-$210 million. Apart from these Tech Mahindra, NTPC, Divi’s Labs, Cipla, Titan, Maruti Suzuki and Tata Steel may also see inflows of upwards of $77 million, according to the Morgan Stanley report. Kotak Mahindra Bank, PI Industries and Ipca Labs to see inflows of $502 million, $99 million and $102 million respectively.

Kotak Mahindra Bank surged 10% after this news. Other stocks were up in the range of 1-5%.

The MSCI move comes after depositories CDSL and NSDL in April increased foreign ownership limit for all listed companies to their sectoral limits.

"MSCI welcomes the recent disclosure of the foreign investment limits for Indian securities by National Securities Depository Limited (NSDL) & Central Depository Services Limited (CDSL) addressing the concerns on the timeliness, quality and standardization of the data," MSCI said in a statement.

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Stocks to Watch: Mahindra Finance, DHFL, Torrent Pharma, HCL Tech, SBI, GHCL

27. October 2020 Maria Trading Articles (0)

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Here’s a list of top ten stocks that may be in news on Tuesday:

Mahindra Finance: The company reported a 34% jump in consolidated net profit at ₹353 crore for the second quarter ended September of this fiscal. Mahindra and Mahindra Financial Services (Mahindra Finance) had posted a net profit of ₹264 crore during the corresponding quarter a year ago.

DHFL: Lenders to the debt-ridden mortgage financier Dewan Housing Finance Corp. Ltd (DHFL) have asked the four bidders to get back with a revised offer by 31 October as part of the on-going resolution process. DHFL had received bids from Adani Group, Piramal Enterprises, US-based Oaktree and Hong Kong-based SC Lowy to either pick stake in the company or buy out assets.

Torrent Pharma: Drug firm Torrent Pharmaceuticals reported a 27.04% rise in consolidated net profit to ₹310 crore for the quarter ended September, mainly on account of robust sales in India and reduction in expenses. The company had posted a net profit of ₹244 crore for the corresponding period of the previous fiscal, Torrent Pharmaceuticals said in a filing to BSE.

Cadila Healthcare: The Indian drugmaker, which is racing to develop an indigenous covid-19 vaccine, is in talks with potential partners to ramp up production capacity if its candidate passes human clinical trials, according to a Bloomberg report.

SBI: The State Bank of India (SBI) has raised ₹5,000 crore by issuing Basel-III compliant bonds. The committee of directors of capital raising met on Monday and accorded its approval to allot 50,000 Basel-III compliant non-convertible, taxable debt instruments, SBI said in a regulatory filing.

Coforge: Hulst BV, part of private equity investor Baring Private Equity Asia (BPEA), on Monday sold 38 lakh shares or 6.27% of Coforge Ltd, earlier known as NIIT Technologies, for ₹878 crore through block deals.

HCL Technologies: The company has completed the acquisition of Cisco's Self Optimizing Network ('SON') Technology effective 25 October, it said in a regulatory filing.

GHCL: Chemicals and textiles manufacturer GHCL Ltd reported a 27.71% decline in consolidated net profit to ₹84.86 crore for the quarter ended September 2020. The company had posted a consolidated net profit of ₹116.84 crore in the July-September period a year ago, GHCL said in a regulatory filing.

NTPC: The board of directors of state-owned power giant NTPC will meet on 2 November to consider a proposal to buy back the company's equity shares. Last week, markets regulator Sebi granted exemption to NTPC from certain buyback norms for the proposed merger of its wholly-owned subsidiaries with the parent company.

Future Lifestyle Fashions: Care Ratings has revised downwards the credit rating on long-term bank facilities and non-convertible debentures to ‘BB credit watch with negative implication’s from ‘BBB credit watch with developing implications’. The revision of ratings primarily factors in weakening credit profile of the company on account of slower than envisaged ramp up of sales, unavailability of additional working capital limits, the ratings agency said.

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