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 BCCI is mulling hosting a camp in UAE for their contracted players, with the 2020 editon of the Indian Premier League also set to be held there. Should the coronavirus situation not improve in Mumbai - the Board's first-choice city to hold the tournament in - then UAE will be the IPL 2020's likeliest destination. "By the looks of it, UAE will mostly host the IPL, unless the situation improves dramatically in Mumbai. So the camp there makes more sense in every way possible. Once the IPL venue is decided, then expect things to move forward quickly," sources in the know told The New Indian Express. However, there will only be clarity on the situation once the BCCI holds their Apex Council meeting on July 17. Currently, the plan is to host the tournament in September-October, pending the cancellation of the T20 World Cup in Australia. There's also the fact that organising the camp will not be easy. BCCI wants a short camp to assess player fitness but IPL franchise...

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 ...

The National Stock Exchange of India Limited is India's leading stock exchange. Increase in retail participation have been long due to come to India and are expected to boost overall financial services industry, and especially stock exchanges. In the last quarter, an average daily turnover of retail investors in cash market touches Rs.39,500 crore in July compared with Rs.7,500 crore for foreign investors and Rs.7,800 crore for DILs. After hitting a 10-year high of 68% in June, retail participation has risen to 72% of the total cash market turnover so far in July. These levels were last seen in 2005, the mid-point of the 2003-07 bull market. Institutional participation from foreign portfolio investors, domestic mutual funds and insurance companies has contributed to just 28% of the total turnover so far this month. “All three types of retail investors — day traders, measured investors, fence-sitters — have been aggressively participating in the stock markets since March, an activit...

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...