Abhishek Securities

The Centre is planning to bring down its stake in MSTC, the company’s Director (Finance) AK Basu said here on Thursday. The Centre’s stake in the Miniratna PSU currently stands at over 89 per cent. The remaining 10-odd per cent is held by various industry associations. According to Basu, the plan is to opt for an “offer-for-sale” and not an IPO to bring down the stake to 65 per cent. “The government’s stake post-dilution will stand at 65 per cent,” he told reporters on the sidelines of the foundation stone-laying ceremony of its corporate building in the satellite township of New Town on the north eastern fringes of the city. He further maintained that the company was also exploring options to divest stake in its subsidiary Ferro Scrap Nigam. Having reported a turnover of ₹51,000 crore last fiscal, it is eyeing 10-20 per cent growth this fiscal. “We should cross ₹60,000 crore at least,” Basu said. JV with Mahindra Meanwhile, BB Singh, CMD, MSTC, pointed out that the comp...

Mahindra Intertrade Ltd., a part of the Mahindra Partners Division of the $17.8-billion Mahindra Group, and MSTC Ltd., a Government of India enterprise, have come together to jointly set up a first-of-its-kind greenfield auto shredding and recycling capability in the country. Mahindra Intertrade owns and operates a network of steel service centres across the automotive, power and home appliances verticals. Mahindra Partners is the $900 million private equity division of the Mahindra Group. The proposed collaborative venture will establish an integrated automotive recycling capability for end-of-life vehicles. And, it will undertake a host of activities — collection, compaction, transportation, de-pollution, dismantling, shredding, recycling, and disposal. Sandip Ginodia , Director   A LTIUS INVESTECH PVT LTD | ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlist...

Mahindra Intertrade Ltd., apart of the USD 16.9 billion Mahindra Group, has signed a Memorandum of Understanding (MoU) with MSTC Ltd. (a Government of India enterprise formerly known as Metal Scrap Trading Corporation Limited). The MoU will see the companies undertake a joint initiative to set up India’s first auto shredding facility. The MoU was signed under the aegis of the Honorable Minister of Steel and Mines, Shri Narendra Singh Tomarji. Sandip Ginodia , Director   ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

HDFC  Life has signed a corporate agency agreement with Indiabulls Housing Finance, leading private housing finance company, to distribute individual insurance products. Under this new tie up, Indiabulls Housing will distribute HDFC Life's individual life, health and pension products to its customers across India, the private insurer said today in a release issued here.

Seven steel majors including a central PSU have participated in the e-auction process to bag Odisha’s Ghorhaburhani-Sagasahi iron ore block with a total reserve of around 100 million tonne, officials said on Thursday. The auction platform is provided by MSTC Ltd while SBI Capital Markets Ltd (SBI Caps), a fully owned subsidiary of State Bank of India, is the transaction adviser for conducting mineral e-auction. The transaction adviser will assist the state government in fixing floor price for the auction. The state government has already formed a committee under the development commissioner for the smooth conduct of mines auction in the state. 

Ms. Bharthi S Sihag, IAS, Addl. Secretary & Financial Advisor, Ministry of Steel inaugurated MSTC Stall at India International Trade Fair (IITF) 2015 on 14th Nov 2015 at Pragati Maiden, New Delhi in presence of Shri. S K Tripathi CMD & Ms. Urvilla Khati, Joint Secretary, Ministry of Steel Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

: "There are only two real ways to get ahead today, sell liquor or drink it." What American actor WC Fields probably said in the early nineties still holds true — at least for state-owned trading company MSTC Ltd. From auctioning scrap to selling liquor dealerships, the lesser known PSU has come a long way. In a first-of-its-kind move, MSTC has been approached by the Odisha government to e-auction the state's liquor licences. So far, the state has been holding manual auctions for the dealerships. Thanks to the coal auctions, the miniratna company under the steel ministry is in demand, with none other than power and coal minister Piyush Goyal and Andhra Pradesh chief minister Chandrababu Naidu among its admirers. "The coal minister, who is a chartered accountant himself, and tech savvy Chandrababu Naidu are very impressed with MSTC's work," said a company official. Other states including Rajasthan, Madhya Pradesh and Andhra Pradesh have ap...

Tech czar   Azim Premji   is in talks to buy under 5% stake in   HDFC Life   for a little over $100 million, or Rs 600 crore. Premji Invest, the investment arm of the Wipro boss, is discussing acquisition of shares from HDFC in a secondary transaction, people directly familiar with the matter said.   India's second largest private life insurance company is a joint venture with UK's Standard Life Plc, which holds the maximum permissible 26% stake. HDFC plans to divest a small part of its 72.37% stake in the life insurer as part of its regular fund raising plans, sources cited earlier added.   Premji is buying into the potential high growth story of life insurers in a market with abysmally low penetration. India's life insurance penetration is estimated at 3.1% and that of insurance products in general at 3.9%. Notwithstanding short-term blips over regulatory revamp, the industry asset under management is expected rise at over 20% annually.   An emaile...

State-owned MSTC Ltd was hopeful of recovering Rs 600 crore unrealised from overseas buyers for gold jewellery sales in 2008-09.  "We are making progress on the recovery process. We are winning some of the cases and most of the verdicts are in our favour," MSTC Chairman and Managing Director S K Tripathi said here today.  Speaking on the sidelines of a session of the  Bharat  Chamber of Commerce he said that though the legal process was time consuming recovery was expected to take place.  A parliamentary committee in its report had said that MSTC sold Rs 638 crore in gold jewellery to 47 foreign buyers through six  Mumbai -based sellers in 2008-09.  Of this, Rs 599 crore remained outstanding from 46 foreign buyers in  UAE , Kuwait and  Singapore  who had cited economic slowdown as a cause of failure to repay, the panel noted. Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of expe...

In a bid to dispose of its iron ore stockpile, the Goa Government has decided to engage State-owned metal scrap trading firm MSTC Ltd for the e-auction of 3.9 million tonnes (mt) unaccounted and confiscated iron ore. This would be the first sale of iron ore in Goa since October 2012 after the State Government and the Supreme Court banned mining and the sale of the mineral. Formal communication MSTC Chairman and Managing Director SK Tripathi confirmed to  Business Line  on Friday that the State Government formally conveyed the decision to the company last week. ‘Illegally extracted’ ore The State Government confiscated 3.9 mt of unclaimed or unrecorded ore stock at different places in the past few months and placed the details before the court, said sources. This “illegally extracted” iron ore quantity would be put up for e-auction first. The apex court in October last year had also allowed e-auction of 11.48 mt of ore inventories with clear ownership. This auct...

 A government official has been sentenced to five years in jail by a Delhi court for accepting a bribe of Rs two lakhs from a scrap metal firm to favour it in allotment of lots during e-auction of metal waste.  Special CBI Judge Sanjeev Jain awarded the jail term to 57-year-old Samir Kumar Ghosh, who was Senior Manager with MSTC Limited here, after holding him guilty under the various provisions of Prevention of Corruption Act.  Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

Odisha may miss April deadline to conduct iron ore e-auction on behalf of miners of the state as the  steel and mines ministry is undecided over the issue. The online auction conducting agency MSTC Ltd said it is ready with all necessary infrastructure and is awaiting the government nod. "As of now we have all necessary infrastructure ready to conduct the e-auction via our Kolkata office. We are awaiting government order to go ahead,” said an official of MSTC. In November last year , the state government decided to sell entire iron ore and manganese ore  produced in the state through online auction route by April 2013 by employing state-run miner Odisha Mining Corporation (OMC) as the canalizing agent in order to address the issue of raw material supply problems for domestic steel units. It has even constituted a committee comprising of cabinet ministers and headed by finance minister  to chalk out the modalities of the trading. The committee, whose te...

  Temasek Holdings , Singapore's state-owned investment company, has invested Rs 140 crore in Bangalore-headquartered   cancer   care provider   HealthCare Global Enterprises   (HCG). The deal, which closed this week, values the company around Rs 1,000 crore, with HCG's founder and chairman BS Ajaikumar retaining a 26-28% stake, according to a person with direct knowledge of the deal. Temasek joins existing investors Premji Invest, an investment entity owned by Wipro chairman   Azim Premji , and Milestone Religare in a primary equity issuance by the company. "We are pleased to invest in this firm which has redefined cancer care in India," said Rohit Sipahimalani, who heads the India practice for Temasek. The investment firm's $157-billion portfolio counts   Bank of China , telecom firm Airtel and Singapore Airlines among its major companies. Temasek's investment in HCG has also paved the way for Dubai-based alternative investment house Evolve...

Private equity investments in India decreased 74 per cent from the previous quarter to $1 billion in the October to December quarter in 2012 , according to PwC's MoneyTree India Report with data provided by Venture Intelligence. In the July to September period of 2012, private equity investments in India totalled $3.8 billion and in the October to December quarter of 2011, PE investments were at $1.49 billion. The lower investments were a result of the risk aversion of investors to sectors such as IT, ITeS, healthcare and life sciences, manufacturing and BFSI.  Sandip Ginodia A BHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit : www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com For more info and regular updates about unlisted shares and the stock market : Follow our blog :  www.abhisheksecurities.blogspot.in  . Visit : ...

>Shares in the unlisted horizon are available at P/E ratio of 1 to 3 times , whereas a company from a similar industry and identical financials and quality of management is generally listed on the exchanges at a P/E of about 10 to 50 times. >As these shares are available at very modest valuation the investor stands to gain magnificent payouts when these shares are listed on the exchange in the next 1-2 years . >Another plus is that the dividend yield is fabulous . >Companies in the unlisted sectors generally have smaller equity base , so the net worth per share of the company is very high for the investor . >A very small percentage of the actually existing companies is actually listed . >A significant portion of the unlisted companies are over 50 year old and thus have real estates and assets at historical costs , the actual valuation of which is sometimes 1000 times the book value . >A comparision reveals that dividend and bonus payout in thes...

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...