Abhishek Securities

F inancial services company SMC Global Securities has filed draft red herring prospectus with SEBI for public issue of 1,58,67,380 equity shares of face value of Rs 2 each. The issue comprises a fresh issue of 79,33,690 equity shares by the company and an offer for sale of 79,33,690 shares by Millennium India Acquisition Company Inc. As of September 30, 2012, "We service our broking clients through a network of 43 branches and 2,521 registered sub-brokers and authorized persons spread in more than 500 cities and towns. We have also established an office in Dubai for brokerage and trading activities in that region," the company said. SMC has reported a loss of Rs 0.42 crore and total revenues of Rs 292.24 crore in the year ended March 31, 2012. "The proceeds of the fresh issue shall be utilised for margin maintenance with stock exchanges; part repayment of term loan; investments into subsidiary, SMC Comtrade; and general corporate purposes," according to p...

COMPANY NAME : OUR  BUY PRICE OUR  SELL PRICE Aricent Tech 45 70 ABCL 22 30 Axles India 20 35 Associated Pigment 15 55 Aspin Wall 100 150 Arch Pharma 225 350 Alembic Glass (Shreno Ltd)  EX BONUS 2:1 NOV'2012 700 950 A V Thomas & Co 1400 2400 Avery India 60 110 Anup Engg 375 650 Abacus Computer 3 ACE DERIVATIVES AND COMMD. EXCHN 10 Ahmedabad S E 30 40 Bharti Teletech Ex Payout 325 BINANI CEMENTS 55 95 Bharati Telecom 3400 3800 Bausch & Lomb (Rayban Optics) 50 95 Bennet & Colman Ex Bonus 8:1 2000 Bharat Hotel 100 130 Bharat Nidhi 10500 14500 Bosch Chasis 300 550 Bse 195 225 Baroda Power 10000 30000 Bangalore S E 10 13.5 Camac Commercial (Phy) 4750 Catholic Syrian Bank 135 185 Cadbury 1600 2000 Carrier Aircon 50 90 Chemundrum Ispat Calcutta Stock Exchange 1200 2000 Cochin Int. Airport 105 175 Cross Country Hotel 6 10 Capricorn 75 Delhi Stock Exchange 13 20 Eastern Investment 3000 4500 Essar Steel 35 40 ELCID INVESTEMENTS 4 ...

B harti Infratel, the telecommunications tower arm of top Indian mobile phone carrier Bharti Airtel  , is likely to launch on December 10 its up to USD900 million initial public offering, three sources with direct knowledge said. The share sale could raise USD800 million to USD900 million, the sources said. Bharti Infratel and four private equity investors are selling shares in the offer. A Bharti spokesman declined to comment. Bharti Infratel expects to get a go ahead from the capital markets regulator as early as Friday, the sources said. All three sources declined to be named as the information is not public yet. Bharti Infratel expects a go-ahead from the capital markets regulator as early as Friday, the sources said, adding the IPO would open for cornerstone investors on December 10 and for the public a day later. Bharti Infratel will sell new shares in the IPO, which will be a key test for overseas investors' appetite in a market that has risen nearly...

Country's premier stock exchange Bombay Stock Exchange ( BSE) today said it had set up a committee to process its proposed initial public offering (IPO). The exchange said that it may list during the next calendar year. Ashishkumar Chauhan, interim Chief Executive Officer, BSE Limited, said: “We are working on the process to get listed in the Indian stock exchanges. We have set up an IPO committee and we are in the process and we hope to get listed in the first or second quarter of calender year 2013." He said the exchange is in the process of preparing Draft Red herring prospectus (DRHP) and waiting for certain regulations to get listed, said Chauhan. “We are a cash-rich exchange and wants to give our investors an exit route and IPO would be best option for them,” he added. Currently broking houses hold around 43% in BSE, followed by FIIs with 39% and FIs and retail will hold the remaining in the exchange.  As per SEBI's rules, we need...

Essar Group first Indian corporate to get nod for refinancing expensive rupee loans with cheaper dollar credit   The $27-billion, steel-to-software Essar Group is the first Indian corporate to receive the go-ahead from the ReserveBank of India (RBI) for refinancing expensive rupee loans with cheaper dollar credit. The central bank has approved group flagships Essar Steeland Essar Oil to get external commercial borrowings of $430 million and $1.5 billion, respectively. Sources said Essar Oil is eligible for a further refinancing of $750 million. The $27-billion, steel-to-software Essar Group is the first Indian corporate to receive the go-ahead from the ReserveBank of India (RBI) for refinancing expensive rupee loans with cheaper dollar credit. The central bank has approved group flagships Essar Steeland Essar Oil to get external commercial borrowings of $430 million and $1.5 billion, respec...

Japanese diversified trading company - Mitsui has acquired 25% stake in API maker Arch Pharmalabs for R372 Cr increasing its stake to 30%, according to ET. Mitsui is buying out the stakes of IL&FS Trust Co, IDBI Trusteeship Services and Rainbow Fund. The move will lead to exit for these funds. The deal will also increase the stake of foreign investors in the Indian company to 46%. Other investor includes – ICICI Venture, Dynamic India Fund, Granite Hill India Oppourtunities Fund and Leverage India Fund among others. Incorporated in 1993, Arch Pharmalabs as Merven Drug is engaged in the manufacturing of API / intermediates and also offers CRAMS. APL has 11 multipurpose manufacturing facilities (including two facilities owned by its subsidiary Avon Organics Limited) across Maharashtra (Six), Andhra Pradesh (Four) and Gurgaon. Out of these facilities, three are USFDA approved (including one owned by Avon Organics Limited) and one of the USFDA unit has also ...

Probe into Cadbury India's Rs 200-cr tax evasion case Investigation is latest of the two cases against the firm Authorities are investigating the local unit of chocolate maker Cadbury over allegations the company might have evaded as much as Rs 200 crore in taxes, the minister of state for finance said on Thursday, as the country beefs up its efforts to increase revenues to contain a widening fiscal deficit. "Two cases of tax evasion by Cadbury India Ltd have been detected by the Directorate General of Central Excise Intelligence during the years 2009-10 to 2012-13, up to 31st October, 2012," the minister, S S Palanimanickam, told Parliament in a written reply to questions from lawmakers. This is the second time in as many years Cadbury has run into trouble with Indian authorities. Last year, an investigation was launched to determine whether Kraft Foods Inc needed to pay taxes arising from its $19 billion takeover of Cadbury. That...

The board of Tata Consultancy Services (TCS) in its meeting on 18 October 2012 has approved the composite scheme of arrangement between TCS, TCS e-Serve (e-Serve) and TCS e-Serve International (TEIL). The composite scheme of arrangement provides for merger of e-Serve into TCS and demerger of TEIL's special economic zone (SEZ) undertaking(s) to TCS. The appointed date proposed for this scheme is 01 April 2013. TCS holds 96.26% of the paid up equity share capital of e-Serve. TEIL is a wholly owned subsidiary of e-Serve. As per the terms of the scheme of arrangement, shareholders of e-Serve (other than TCS) will receive 13 equity shares of Re 1 each of TCS for every 4 equity shares of Rs 10 each of e-Serve held by them. The board has approved the scheme of merger of Computational Research Laboratories (CRL) and Retail FullServe (RFL) with TCS. The proposed appointed date for the merger of CRL is 01 October 2012 and for the merger of RFL is 01 April 2012. Computational Res...

Nov,2011 : Tata Sons, the holding company of the $83-billion Tata Group, has proposed a bonusissue after 12 years on the back of a robust year when it doubled its profits.  The company is on course to allot five shares for every share held by its shareholders (5:1), expanding its equity base six times. In the last 14 years, this is the third time Tata Sons is rewarding its shareholders through a bonus issue. The previous two, each in the ratio of 1:2, were in 1999 and 1997.  The bonus issue decision by the unlisted Tata Sons board comes at a time when the firm is set to see a change at the helm, with its current chairman Ratan Tata stepping down in December 2012. In addition to the bonus issue, the company is also paying a dividend of Rs 8,000 per share of face value Rs 1,000.  Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of expeirence . For latest prices visit : www.abhisheksecur...

MSTC declares bonus issue : Steel Minister,Beni Prasad Verma reviewed the performance of MSTC Limited wherein secretary,steel DRS Chaudhary was also present.SK Tripathi,CMD,MSTC Limited,made an elaborate presentation of the present status,future plans and challenges of MSTC. Tripathi said that five years ago the volume of business of the company was 7,700 crore and this has increased to 21,751 crore in 2011-12.MSTC has scripted continuous growth in profit in the last three years.In 2011-12 profit before tax was 176 crore.MSTC has a unique distinction of having 58 lakh per employee profit which is an all time record for the service sector in India. MSTC has declared issue of bonus share at the ratio of 3:1.It may be recalled that MSTC also issued bonus share @1:1 in the year 1993.MSTC has handed over a dividend cheque to the minister for 2011-12 @ 1077 per cent. Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of expeirence...

Ratnakar Bank to add 50 branches this fiscal Private sector lender Ratnakar Bank is targeting to add around 50 branches this fiscal with a majority of them being outside Maharashtra, a top official said here today. The bank's branch network has grown to 105 from 80 in the last 18 months and it will add up to 50 this fiscal, bank's managing director and chief executive Vishwavir Ahuja told reporters here. During the 18-month period, when the bank had a massive revamp, it has been able to grow its balance sheet size by three times to nearly Rs 7,500 crore, he said. It is targeting to take the total number of branches to 300 in the next three years, Ahuja said. In line with its strategy of expanding in other parts, only a third of the incremental branches will be in Maharashtra while the rest will be outside, bank's consumer and retail banking head Nitin Chopra said. Netmagic Solutions, today entered in an outsourcing partnership with Ratnakar Bank ....

  12:21 AM CBI Arrests Former MSTC Officials in Rs. 464 cr Scam : The CBI has arrested former top officials of Metal and Scrap Trading Corporation (MSTC) in an alleged gold export scam worth Rs 464 crore in the public sector undertaking by accepting forged documents from exporters, CBI spokesperson said today. The agency arrested the then Chairman and Managing Director of MSTC Malay Sengupta and Chief General Manager Tapas Basu, CGM from Kolkata, and an insurance consultant S K Sinha from Delhi for their alleged involvement in the case. MSTC TO OFFER E SERVICES  :   MstC LTD , a mini-ratna PSU under Union ministry of steel, has evinced interest to offer its e-auction and e-procurement services for departments and agencies of the Odisha government. MSTC, which has been offering e-services for a wide gamut of products since 2002, has made a presentation to top state officials. The Central PSU held that e-auction will organize and expand market fo...

DIVIDEND PROJECTION : Private life insurance company HDFC Standard Life Insurance may declare a dividend soon, according to an investor presentation by Standard Life, the UK-based joint venture partner of the company. "Company can now declare dividend," said the UK arm in the presentation recently made to its investors. The presentation mentioned that HDFC Life has established market out-performance consistently over the past 2 years. It added that the Indian life insurance industry in poised for long term growth and HDFC Life is best positioned to take advantage of the market opportunity. According to the presentation, the number of policies grew by 26% in first half of financial year 2013 versus first half of financial year 2012. "Policy term enhanced to 13.2 years in H113 vs. 11.5 years in H112," it further noted. IPO Unlikely for HDFC Life  : With the cabinet clearing the proposal of 49% foreign direct investment, the next logical step should ...

The board of Tuticorin-headquartered  Tamilnad Mercantile Bank  (TMB) has approved an interim dividend of Rs 900 per share of Rs 10 each (2012-13), which is the highest in terms of percentage.  Bank’s managing director and chief executive officer  AK Jagannathan  said this would translate to around Rs 25 crore. He was speaking after launching its mobile banking solution. “This is the first time in the history of the bank that such a big interim dividend is being paid and it will be one of the highest in the banking industry in the country,” said Jagannathan. The 90-year-old Tamilnad Mercantile Bank has reported 25 per cent growth in net profit, at Rs 313 crore, in 2011-12, and set a target of Rs 500 crore by 2015, with a total business of Rs 62,000 crore. The Nadar community-promoted bank is one of the fastest growing among the 17 small-sized banks in the country . Jagannathan said year-on-year the bank grew 26 per cent and between April and Decem...

Mideast Integrated Steels Ltd (  Mesco Steel  ) has posted 197% jump in its net profit for April-September period of this fiscal compared to corresponding period of previous fiscal. Rita Singh, the company's chairman and managing director said, “In the first six months, Mesco Steel posted a profit of Rs 134.13 crore which is higher than the profit of Rs 90.20 crore earned during the 2011-12.” Mesco's turnover in the period under review rose to Rs 402.41 crore compared to its total income of Rs 546.75 crore in 2011-12. The steel company expects to double its turnover in the current fiscal. Mesco hopes to deliver even better performance in the second half of this fiscal since the constraints caused by the monsoon and other local factors will not be there to affect the production both at the mine and at the plant. The coke rate has come down thereby increasing the productivity of the plant operations. With the commissioning of railway siding inside the plant and reva...