Abhishek Securities

Mumbai, Maharashtra, India:    Customers call on Otis to support reopening strategies and facility-operation plans. Otis offers technical expertise, products and services to disinfect equipment, reduce points of contact and promote social distancing. Otis is helping customers around the world to prepare for the safe reopening and continued maintenance of their buildings – where people live and work – through touchless elevator technologies, purification products including ultraviolet (UV) and other germicidal lighting, predictive maintenance and other innovations designed to combat the spread of germs and promote social distancing. These solutions also support the recommendations and guidance presented by the World Health Organization (WHO), the U.S. Centers for Disease Control and Prevention (CDC) and other health experts.  Otis Worldwide Corporation (NYSE: OTIS)  is the world’s leading company for elevator and escalator manufacturing, installation and service. “We ...

Computer Age Management Services, backed by  Warburg Pincus LLC  and the  National Stock Exchange , has received markets regulator Sebi's go-ahead to raise an estimated Rs 1,500-1,600 crore through an initial share sale. The IPO will see sale of 1.22 crore equity shares through offer-for-sale by Great Terrain Investment, NSE Investments,  Acsys Investments ,  HDFC  and  HDB Employees Welfare Trust , as per the draft papers filed with Sebi. While Great Terrain is an affiliate of Warburg Pincus, NSE Investments is a group firm of the  National Stock Exchange  (NSE). Computer Age Management Services (CAMS), which had filed draft papers with  Sebi  in January, obtained its observations on July 17, the latest update with the capital markets watchdog showed. Sebi's observations are necessary for any company planning to launch public issues like initial public offer (IPO), follow-on public offer and rights issue. Last month, the regulator ...

The amendment on uniform stamp duty has become effective from July 1, stock exchanges will collect stamp duty on trading stocks and commodities on exchanges, while depositories will collect on off-market (unlisted) transactions, and deposit the proceeds with the central government, which will then be divided among states. While the earlier rules gave advantage to some states as they offered lower rates for companies to get incorporated, the new rules will bring in parity among all states. Coming specifically to transfer of unlisted shares, they were earlier exempt but require payment of stamp duty from 1st July.  What is the rate of Stamp Duty? The stamp duty rate for transfer of security other than debenture on delivery basis has been notified at 0.015% of the total consideration value. How can one pay the stamp duty? Stamp duty needs to be paid at the time of sale and needs to paid by the seller of the securities. The link for making the calculating and making the payment is- htt...

The low cost carrier said it has joined hands with Go Digit Insurance Limited through its Digit Illness Group insurance Policy to offer this insurance cover. SpiceJet  passengers can now avail an insurance cover for COVID-19 hospitalisation by paying a minimum premium of Rs 443, the airline said on Wednesday. “Passengers can opt for the insurance cover ranging between  50,000 to  3,00,000 at a premium for as low as  443 to  1,564 a year (including GST),” the airline said in a press release. “The insurance covers hospital expenses and all pre and post hospitalisation expenses for 30 and 60 days respectively. The comprehensive cover includes tests, medication and consultations upon testing positive for COVID-19,” it added. The low cost carrier said it has joined hands with Go Digit General Insurance Limited through its Digit Illness Group Insurance Policy to offer this insurance cover. “This insurance has no restrictions on room or ICU rent. This implies there is ...

Rossari Biotech are one of the leading specially chemicals manufacturing companies in India providing customized solutions to specific industrial and productin.   As Rossari Biotech gears up to launch its initial public offering (IPO) on Monday, unlisted shares of the company are demanding up to 30-35 per cent premium over the IPO price in grey market or unofficial market for trading in unlisted shares. The company has fixed the price band of the issue at Rs 423-425. Grey market traders are expecting the issue to list at a hefty premium. In the Pre-IPO market, premium on the shares shot up to Rs 140 on Wednesday, July 8, from Rs 20 on Monday, July 6. Traders are expecting the premium to rise further till issue closes for subscription. Narottam Dharawat of Dharawat Securities, a Mumbai based firm that deals in unlisted shares, said the premium is rising as the IPO is inching closer. “It is likely to move northward in the next few days,” he said. It is the fir...

The current market sentiments seem like the perfect opportunity in terms of consumer preferences for LAVA & MICROMAX to gain back their foothold in the smartphone market. In 2014, Micromax had dethroned Samsung as the country’s top-selling brand. Even in 2015, Indian brands controlled 45% of the country’s smartphone market, with Chinese brands at only 9%, according to data from Counterpoint Research. Their failure to adapt to the advent of 4G, however, caused a stunning reversal in fortunes. Today, Micromax and Lava—the two biggest Indian brands—together account for only 0.4% of the smartphone market. With the Chinese brands moving up the value chain as they look to drive margins up, Indian brands could move into the wallet-friendly sub-Rs 15,000 ($200) segment. “We plan to launch two models in July,” says Mugdh Rajit, Lava’s head for marketing, sales and distribution strategy. “Our main focus will be on the Rs 7,000-15,000 ($90-200) price band. We already have a good market share ...

Reversing Covid trends NSE trading volume has double since last Year June 19 figures. Seems like a good run for the stock exchanges irrespective of the market going up or down. The stock market space is emerging as a bright spot amid the economic gloom in the country. Trading turnover in the cash market segment of both National Stock Exchange (NSE) and BSE nearly doubled in June on a year-on-year (YoY) basis. The average daily trading volume (ADTV) for June on the NSE was Rs 61,400 crore, a YoY jump of 95 per cent. The BSE’s ADTV of Rs 5,000 crore, too, was double the June 2019 figure, the data compiled by ICICI Securities showed. Equity and currency derivatives, and mutual fund (MF) trading also witnessed a jump in volumes. The buoyancy in the stock market, especially in the broader markets, coupled with the entry of new investors, has increased activity, said experts. “The spurt in volumes in June was mainly driven by the market volatility and positive sentiment around mid-cap and sm...

NSE is the worlds largest stock exchange by volume. A stock exchange fits most criterias on legendary investor Warren Buffet's checklist considering the huge regulatory moat which they have around them. We have been extremely gung ho about NSE's prospects considering the massive under penetration of financial markets in India. TA Associates, the American private equity investor has picked up more than two percent stake in National Stock Exchange. TA will invest $150 million ( Rs 1134 crore) for the stake purchased from existing investors, valuing the exchange, the biggest in the world by way of derivative trading volumes, at around $7 billion. TA has invested in multiple exchanges around the world such as its investment in world’s largest commodities exchange InterContinental Exchange ( ICE ), US-based Bats Global Markets among others. The Indian investment comes at a time when the fund expects the domestic market to grow exponentially. “We expect continued robust growth in the...