CP | Dalal Street

Forthcoming Indian IPOs – Jan-2007

January 3, 20071 min read

Here is a list of IPOs that will hit the Indian Market in Jan-2007.

1	Cambridge Technology Enterprises Ltd
2	Autoline Industries Limited
3	Global Broadcast News Limited (CNN IBN)
4	House of Pearl Fashions Limited
5	Pochiraju Industries Limited
6	Akruti Nirman Limited
7	Technocraft Industries (India) Limited
8	Abhishek Mills Limited
9	Cinemax India Limited
10	Jas Toll Company Limited
11	Mudra Lifestyle Limited
12	Orbit Corporation Limited
13	Hilton Metal Forging Limited
14	SVP Industries Limited
15	Suryachakra Power Corporation Limited
16	Binani Cement Limited
17	Idea Cellular Limited
18	Power Finance Corporation Limited
19	Indian Bank
20	Vijayeswari Textiles Limited
21	First Source Solutions Limited

Tags: IPO India, Invest India , Money India , Emerging Market

India IPO Reviews and Updates

Intime Spectrum the worst IPO Registrar

January 3, 20071 min read

You all know by now that Intime Spectrum is the worst registrar in the Indian IPO market. Intime Spectrum never respond to any e-mails / fax and their phone lines are always busy.

Some small investor friendly person filed a petition against Intime Spectrum Ltd and has suspended all their activities by a ruling of Kolkatta High Court. Thank God, no more IPO issues to be handled by Intime Spectrum from now. Hopefully the SEBI will wake up now.

Troubled and Undersubscribed, Cairn India Ltd IPO is now handled by Big Share Registry India Ltd.

Tags:IPO India, Intime Spectrum, Kolkatta High Court

India IPO Reviews and Updates

XL Telecom lists below offer Price

December 28, 20061 min read

The IPO of XL Telecom was priced at Rs 150 and the stock closed on the listing day at Rs 135 a 10% discount to the offer price.

The company’s post-issue share capital is Rs 14.5 crores and promoters stake is 62.37%. The company reported a net profit of Rs 10.67 crores on net sales of Rs 396 crores.

Tags:Invest India, IPO India, XL Telecom , DalalStreet

Mutual Funds Review

Indian Mutual Fund Investors must get MIN

December 28, 20061 min read

Indian Mutual Fund investors who invest more than Rs 50,000 in one go are now expected to get a MIN – Mutual Fund Identification Number without which he will not be able to invest from Jan-01-2007. Regulators want to know more about funds and investors under the “Know Your Customer – KYC” policy such that their is no illgeal channels of fund flows into the country.

A P Kurian, Chairman of AMFI explains the need for MIN in the following video,

Tags: Mutual Funds India, Emerging Market, Indian Customer, DalalStreet

Mutual Funds Review

HSBC – Global Emerging Market Fund in India

December 27, 20061 min read

HSBC Mutual Fund India has filed a draft offer document with SEBI for launching a new fund that will invest in emerging markets.

The significance of this fund is, it will not only invest in Indian Stocks but also stocks of other emerging markets such as Argentina, Brazil, Russia, China and East Europe. The fund will have both BSE 200 and MSCI Emerging Market Index as its benchmark.

One should invest some sum in this fund as well as you see India has been an underperformer in 2006 compared to China and India is also a very expensive emerging market at P/E of 18. In such situations, these funds will reduce exposure in India and move their money to other lucrative markets such as Brazil.

Stay Tuned, I’ll review the fund and post more views on it when it will be launched [ maybe Q1-2007].

Tags: Emerging Markets, HSBC India, Mutual Funds, Growth Stocks

Equity Research

Merill Lynch Investment Update – BUY IndiaBulls

December 27, 20062 min read

DSP Merill Lynch in its Investment update has put a BUY recommendation on IndiaBulls Financial Services Ltd. It has also revised the target for IndiaBulls to Rs 750.

The upward revision is mainly due to the rise in value of its Real Estate Holdings. The NAV of Real estate business is estimated at Rs423/share (FY08) by Merill Lynch, a 47% discount to KF’s value of Rs796/share principally owing to the difference in SEZ valuation. They have pegged SEZ valuations at the price paid by Farallon last month (Rs173/shr v/s RS496/shr done by KF) owing to uncertainty in SEZ policies and extended timeline of SEZ. Hence, SEZ valuations may remain muted at 0.5-1.0x NAV.

Merill Lynch is however, positive on the non-SEZ properties, where our value of Rs250/shr is just 13% lower than KF’s value largely owing to absence of any price escalations. These properties could trade up to 1.2-1.3x NAV.

IndiaBulls Financial Securities business is valued at 15-17x FY08E earnings as markets remain
buoyant. Consumer finance business valued at 1.5-1.8x FY08E book given the rapid rise in earnings and loan book.

Total value of real estate business valued at Rs337-498/share. Total ‘sum of parts’ valuation range at RS650-855/share, underpinning our PO of Rs750.

The record date of Demerger of IndiaBulls Financail Services Ltd and IndiaBulls Real Estate / properties is fixed at Jan-09-2007.

Tags: Invest India, Emerging Markets, India Realty Stocks, Real Estate India

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