Latent View Analytic makes strong debut

Latent View Analytic makes strong debut

Data analytics services provider Latent View Analytics started off the first day trade with a massive 169% premium on the bourses on November 23, which was largely on expected lines.
The stock opened at Rs 530 on the BSE and the opening tick on the National Stock Exchange was Rs 512.20, against issue price of Rs 197 per share, changing the mood at Dalal Street that was spoiled by the disappointing listing of Paytm, the leading digital payments platform.
Reasonable valuations, healthy financials, strong growth prospects and good relationship with blue chip companies supported the stock price.

The initial public offering of Latent View had seen overwhelming response from investors, subscribing 326.49 times during November 10-12, 2021.
Non-institutional investors had put in bids 850.66 times the portion set aside for them, and qualified institutional buyers bought shares 145.48 times the reserved portion. Retail investors also looked aggresive, subscribing for shares 119.44 times the portion set aside for them and employees’ portion was subscribed 3.87 times.

The company, which provides services to blue-chip companies in Technology, BFSI, CPG & Retail, Industrials, and other industry domains, has raised Rs 600 crore through its maiden public issue. The offer was composed of a fresh issue of Rs 474 crore and an offer for sale by selling shareholders.

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This document is meant for the recipient only for use as intended and not for circulation. This document should not be reproduced or copied or made available to others. The information contained herein is from the public domain or sources believed to be reliable. While reasonable care has been taken to ensure that information given is at the time believed to be fair and correct and opinions based thereupon are reasonable, due to the very nature of research it cannot be warranted or represented that it is accurate or complete and it should not be relied upon as such. Also above note is not a recommendation to Buy or SELL and is only a view based on facts and figures and we will be in no way responsible for any losses incurred by anyone who uses this information to either trade or invests securities mentioned herein.

Fino Payments Bank shares make a tepid debut

Fino Payments Bank shares make a tepid debut

Fino Payments Bank shares made a tepid debut on the bourses as the stock listed with a 5% discount to issue price of Rs 577 on November 12. The share price opened at Rs 548 on the BSE and the opening tick on the National Stock Exchange was Rs 544.35.
The initial public offering of fintech company had received a muted response from investors as the offer was subscribed 2.03 times during October 28-November 2.

Qualified institutional buyers and retail investors supported the offer as their reserved portion saw 1.65 times and 5.92 times subscription, respectively. A part set aside for non-institutional investors was subscribed 21% and that of employees was 93%.
Fino Paytech-owned entity has mobilised Rs 1,200.29 crore through its public issue that had a fresh issue of Rs 300 crore and an offer for sale of Rs 900.29 crore by the promoter. The proceeds from the fresh issue will get utilised for augmenting bank’s Tier – 1 capital base to meet its future capital requirements.
The price band for the offer was at Rs 560-577 per equity share.

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This document is meant for the recipient only for use as intended and not for circulation. This document should not be reproduced or copied or made available to others. The information contained herein is from the public domain or sources believed to be reliable. While reasonable care has been taken to ensure that information given is at the time believed to be fair and correct and opinions based thereupon are reasonable, due to the very nature of research it cannot be warranted or represented that it is accurate or complete and it should not be relied upon as such. Also above note is not a recommendation to Buy or SELL and is only a view based on facts and figures and we will be in no way responsible for any losses incurred by anyone who uses this information to either trade or invests securities mentioned herein.

Policybazaar, Fino Payments IPO update

Policybazaar, Fino Payments IPO update

On day 2 of the initial public offering (IPO) by PB Fintech which owns Policybazaar, Fino Payments are receiving indifferent investor response.
While Policybazaar IPO has been subscribed 61% so far, the response Fino Payments issue remains relatively strong.
On November 2, the second day of bidding, Policybazar offer received bids for 2.09 crore equity shares against IPO size of 3.45 crore shares.
Retail investors were at the forefront, for whom the 10% of offer size is reserved, receiving bids 1.50 times the portion set aside for them.

The reserved portion of qualified institutional buyers was subscribed 56% and that of non-institutional investors saw subscription of 12%.
The IPO of fintech company Fino Payments Bank had been subscribed 95%, with investors putting in bids for 1.08 crore shares against the IPO size of 1.14 crore shares.
The total offer size for public has been reduced to 1.14 crore equity shares from 2.09 crore shares after the company garnered Rs 538.78 crore from anchor investors on October 28.
Retail investors have bought 4.99 times the portion reserved for them, with employees bidding for 32,225 shares.

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This document is meant for the recipient only for use as intended and not for circulation. This document should not be reproduced or copied or made available to others. The information contained herein is from the public domain or sources believed to be reliable. While reasonable care has been taken to ensure that information given is at the time believed to be fair and correct and opinions based thereupon are reasonable, due to the very nature of research it cannot be warranted or represented that it is accurate or complete and it should not be relied upon as such. Also above note is not a recommendation to Buy or SELL and is only a view based on facts and figures and we will be in no way responsible for any losses incurred by anyone who uses this information to either trade or invests securities mentioned herein.

Rakesh Jhunjhunwala acquires 1.59% stake in Canara Bank

Rakesh Jhunjhunwala acquires 1.59% stake in Canara Bank

Rakesh Jhunjhuwala has added PSU lender Canara Bank stock to his portfolio, according to the latest shareholding pattern of the bank available with the stock exchanges.
Jhunjhunwala acquired a 1.59% stake in Canara Bank during April to June 2021 quarter.
According to the regulatory filing of Canara Bank, Rakesh Jhunjhunwala now owns 1.59% of Canara Bank or 2,8850;000 equity shares of face value Rs 10 each. Earlier Canara Bank had announced the completion of a Qualified Institutional Placement (QIP), where the bank approved the allotment of 16;73,92,032 equity shares to eligible qualified institutional buyers at an issue price of Rs 149.35 per equity share; aggregating up to Rs 2,500 crore. The QIP opened on August 17 and closed on August 24. Currently, shares of Canara Bank trade at Rs 155.7 apiece after gaining nearly 2% yesterday.

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This document is meant for the recipient only for use as intended and not for circulation. This document should not be reproduced or copied or made available to others. The information contained herein is from the public domain or sources believed to be reliable. While reasonable care has been taken to ensure that information given is at the time believed to be fair and correct and opinions based thereupon are reasonable, due to the very nature of research it cannot be warranted or represented that it is accurate or complete and it should not be relied upon as such. Also above note is not a recommendation to Buy or SELL and is only a view based on facts and figures and we will be in no way responsible for any losses incurred by anyone who uses this information to either trade or invests securities mentioned herein.

Marine Electricals: A good bet

Marine Electricals: A good bet

Marine Electricals (India), a company engaged in the provision of integrated electrical solutions, offers a good medium to long term prospect for investors, especially small investors, seeking to tide over uncertainty of equity markets.
A steady earnings performance and regular stream of order receipt augurs well.
Recently, the company bagged orders worth Rs 12.95 crore.

The first order has been received from Hindustan Shipyard Limited for the supply of MSB package along with APMS, SCD, and DBs, amounting to Rs 8.38 crore. The delivery of the said goods shall be made over a period of 8 months.

Another order is received from Mazagon Dock Shipbuilders Limited and Garden Reach Shipbuilders & Engineers Ltd for the supply of motorised shore supply cable handling and stowage system, amounting to Rs 4.57 crore. The delivery of these goods is for seven ships and therefore shall be delivered progressively over a period of three years.

With this order, the company’s current order book now stands at Rs 454.2 crore. The total order book includes the orders of Rs 301.55 crore from the marine segment and Rs 152.7 crore from the industrial segment.
Earlier, it bagged orders worth Rs 40 crore in the last two months, i.e., in the months of April and May.
Out of the total orders, the company received a significant order from Bridge Data Centres (Mumbai) LLP, a database management company. The order is worth Rs 25.65 crore while the company (Marine Electricals) will engage in the supply of power distribution systems and MV switch board package for Project Bytes.
Another significant order was secured from Blue Star Limited. Marine Electricals will provide blokset panels for Bluestar’s Salcomp Manufacturing India project, which is one of the leading manufacturers of power supplies for Apple mobiles and other electronic devices. The contract value amounts to Rs 3.5 crore.
Marine Electricals reported revenues of Rs 251.3 crore for FY21 while net profit was more than doubled at Rs 13.5 crore. The current order book is 2x of FY21 revenues giving a strong growth visibility for next two years.

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This document is meant for the recipient only for use as intended and not for circulation. This document should not be reproduced or copied or made available to others. The information contained herein is from the public domain or sources believed to be reliable. While reasonable care has been taken to ensure that information given is at the time believed to be fair and correct and opinions based thereupon are reasonable, due to the very nature of research it cannot be warranted or represented that it is accurate or complete and it should not be relied upon as such. Also above note is not a recommendation to Buy or SELL and is only a view based on facts and figures and we will be in no way responsible for any losses incurred by anyone who uses this information to either trade or invests securities mentioned herein.

Tata Motors reports highest PV sales in 9 years

Tata Motors reports highest PV sales in 9 years

Indian auto-manufacturers reported a mixed bag of sales in February as the slowing demand and supply chain constraints continued to keep two-wheeler sales under pressure.
Tata Motors reported a 54% year-on-year increase in total domestic sales led by strong demand for its passenger car and a revival of the commercial vehicle segment. The company said the car sales were the highest ever in at least 9 years.

The country’s largest carmaker Maruti Suzuki India reported a 11.8% increase in wholesales to 1.64 lakh units in February.
Although the company’s entry-level cars, Alto and S-Presso, declined by 12.9% compared to the same month last year — Sales of compact segment vehicles, including models Swift, Celerio, Ignis, Baleno and Dzire, increased by 15.3% year-on-year.

The Hinduja group flagship firm Ashok Leyland reported an increase of 19% in total vehicle sales in February as the commercial vehicles segment showed positive signs after recovering from the coronavirus slowdown.
The medium and heavy commercial vehicles (M&HCV) sales in the domestic market were up 5%, and the light commercial vehicle (LCV) sales in the domestic market were up 46%.

The Tractor sales continued marching in a positive trajectory, with M&M posting double-digit growth in February. The farm equipment segment recorded 19.8% growth leading to the overall growth of 3.3%.
TVS Motors reported 18% year-on-year growth in February-led by strong growth in the two-wheeler segment. The company which sells Apache and Jupiter saw its sales jump nearly 21% in the segment.

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This document is meant for the recipient only for use as intended and not for circulation. This document should not be reproduced or copied or made available to others. The information contained herein is from the public domain or sources believed to be reliable. While reasonable care has been taken to ensure that information given is at the time believed to be fair and correct and opinions based thereupon are reasonable, due to the very nature of research it cannot be warranted or represented that it is accurate or complete and it should not be relied upon as such. Also above note is not a recommendation to Buy or SELL and is only a view based on facts and figures and we will be in no way responsible for any losses incurred by anyone who uses this information to either trade or invests securities mentioned herein.

Bharti Airtel raises $1.25 Bln through debt issue

Bharti Airtel raises $1.25 Bln through debt issue

Shares of Bharti Airtel rose 2% after the telecom services provider raised $1.25 billion through debt instruments.
The special committee of directors for debt fundraising, on February 25, 2021, approved the pricing, tenure and other terms and conditions w.r.t. issuance of senior unsecured foreign currency (USD) denominated notes aggregating to $750 million.

This forms a part of total debt fundraise of $1.25 billion by the company through its first-ever dual tranche of dollar bond offering, including the aforesaid issue of $750 million and issue of guaranteed perpetual securities of $500 million by Network i2i Limited, a subsidiary of the company.
This is the largest issuance by any Indian Investment Grade issuer since January 2019.
The offering was oversubscribed with strong demand from several marquee Asian, European and American funds.

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This document is meant for the recipient only for use as intended and not for circulation. This document should not be reproduced or copied or made available to others. The information contained herein is from the public domain or sources believed to be reliable. While reasonable care has been taken to ensure that information given is at the time believed to be fair and correct and opinions based thereupon are reasonable, due to the very nature of research it cannot be warranted or represented that it is accurate or complete and it should not be relied upon as such. Also above note is not a recommendation to Buy or SELL and is only a view based on facts and figures and we will be in no way responsible for any losses incurred by anyone who uses this information to either trade or invests securities mentioned herein.

NSE halts trading due to links issue

NSE halts trading due to links issue

Index price feed for NSE indices across brokers has frozen due to an unknown reason. NSE has closed F&O market at 11:40 am and the cash market at 11:43 am. NSE says that the update for the re-opening will be shared later.
NSE has multiple telecom links with two service providers to ensure redundancy. We have received communication from both the telecom service providers that there are issues with their links due to which there is an impact on NSE system.
NSE does all sort of Mock Trading sessions for system testing, still such things happen in real time and not during mock sessions. *NIFTY / BANKNIFTY spot prices frozen since 10:07am.

Disclaimer –
This document is meant for the recipient only for use as intended and not for circulation. This document should not be reproduced or copied or made available to others. The information contained herein is from the public domain or sources believed to be reliable. While reasonable care has been taken to ensure that information given is at the time believed to be fair and correct and opinions based thereupon are reasonable, due to the very nature of research it cannot be warranted or represented that it is accurate or complete and it should not be relied upon as such. Also above note is not a recommendation to Buy or SELL and is only a view based on facts and figures and we will be in no way responsible for any losses incurred by anyone who uses this information to either trade or invests securities mentioned herein.

Infosys: A long term bet

Infosys: A long term bet

Share price of Infosys fell 5% in early trade Thursday as better-than-expected earnings for the December quarter triggered profit-booking.
Infosys posted a 16.6% year-on-year (YoY) rise in consolidated net profit at Rs 5,197 crore in Q3 as against Rs 4,466 crore in the year-ago quarter.
Its revenue grew 12.3% to Rs 25,927 crore in the quarter under review from Rs 23,092 crore in the corresponding period last fiscal.

The Bengaluru headquartered IT services exporter has also increased its FY21 revenue growth guidance to 4.5-5^ in constant currency terms. In October, Infosys had guided towards 2-3 percent revenue growth in FY21 on a constant currency basis.

Infosys remains preferred stock among portfolio investors given its strong financials and new deal wins.
Infosys reported a strong $5.2 billion in net new large-deal wins in 3QFY21 that positions it well for 15% dollar revenue growth in FY22.
Management expects to offset associated margin headwinds from transition costs and passthrough revenue in such deals via a combination of operating leverage and improved profitability in previously won deals.

Evidently, increased sales aggression and best-in-class execution are helping Infosys gain disproportionate share as clients explore cost-takeout deals to fund digital spending, making Infosys one of the best plays on the theme.
Execution of client relevant strategy focused on digital transformation continues to drive superior growth, well ahead of the industry.

Disclaimer –
This document is meant for the recipient only for use as intended and not for circulation. This document should not be reproduced or copied or made available to others. The information contained herein is from the public domain or sources believed to be reliable. While reasonable care has been taken to ensure that information given is at the time believed to be fair and correct and opinions based thereupon are reasonable, due to the very nature of research it cannot be warranted or represented that it is accurate or complete and it should not be relied upon as such. Also above note is not a recommendation to Buy or SELL and is only a view based on facts and figures and we will be in no way responsible for any losses incurred by anyone who uses this information to either trade or invests securities mentioned herein.