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Wintac Rights Issue

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at March 11, 2010

Wintac spurted 9.77% to Rs 36.50 on BSE, after the company said its board will meet on 18 March 2010 to consider the issue of equity shares on rights basis. The stock hit a high of Rs 36.55 and a low of Rs 36.50 so far during the day. The stock had hit a 52-week high of Rs 36.90 on 16 December 2009 and a lifetime low of Rs 6.66 on 2 April 2009.

The current price of Rs 36.50 discounts the company’s Q3 December 2009 annualized EPS of Rs 2.56, by a PE multiple of 14.26. Wintac reported net profit of Rs 0.29 crore in Q3 December 2009 compared to net loss of Rs 0.47 crore in Q3 December 2008. Net sales rose 20.4% to Rs 4.83 crore in Q3 December 2009 over Q3 December 2008. The company produces a wide range of products in the pharmaceutical, fine chemical and agro chemical segments.

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Rights Issue

Record Date - KM Sugar Mills Stock Split

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at March 11, 2010

K M Sugar Mills has fixed 29 March 2010 as the record date for the purpose of sub-division / stock split of Rs. 10 per share of the company into five equity shares of Rs. 2 each. KM Sugar Mills rose 3.21% to Rs 37 on BSE, after the company fixed 29 March 2010 as the record date for a 5-for-1 stock split.The company’s equity capital is Rs 18.40. Face value per share is Rs 10. The current price of Rs 37 discounts the company’s Q1 December 2009 annualized EPS of Rs 10.39, by a PE multiple of 3.56. KM Sugar Mill reported net profit of Rs 4.78 crore in Q1 December 2009 compared to net loss of Rs 5.38 crore in Q1 December 2008. Net sales declined 7.5% to Rs 34.81 crore in Q1 December 2009 over Q1 December 2008.

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Record Date, Stock Split

Record Date - Indo Asian Finance Bonus Issue

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at March 11, 2010

Indo Asian Finance has fixed 19 March 2010 as the record date for the purpose of determining the eligible shareholders for issue of bonus shares at the rate of 2:1 (at the rate of 2 shares for every share).

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Bonus Issue, Record Date

Record Date - Suprajit Engineering Stock Split and Bonus Isssue

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at March 11, 2010

Suprajit Engineering was locked at 5% upper limit at Rs 171.90 at 12:29 IST on BSE, after the company fixed 20 March 2010 as the record date for a 5-for-1 stock split and a liberal 1:1 bonus issue. The company announced the record date during trading hours today, 11 March 2010.

The company is engaged in manufacturing and selling auto components. It produces automotive, non-automotive and push pull cables. The automotive cables includes brake cables, clutch cables, throttle-cables, sear shifi cables, choke cables, speedometer cables, tachometer cables, window regulator cables, mirror cable assemblies, seat rediner cables and latch release cables. Non-automotive cables include washing machines, material handling, earth moving equipment, marine applications, ATVs and lawn movers tractors.

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Bonus Issue, Record Date, Stock Split

IPO Analysis - IL&FS Transportation Networks Limited

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at March 11, 2010

IL&FS Transportation Networks Limited is entering the capital markets with an initial public offering (IPO) at the price band of Rs. 242-258 per share to raise Rs. 7 bn. The issue comprises of an offer for sale of 4.28 million equity shares by Trinity Capital Limited and a fresh issue of more than 22.85 million equity shares with a face value of Rs. 10 per share. The object of the issue is to fund the pre-payment and repayment of a portion of debt availed by the Company and to utilize the funds towards general corporate purposes.

Valuation and recommendation:

According to our valuation, at a lower price band of Rs. 242, the Company offers an EV/EBITDA of 9.2x which is at a discount to peers’ (IRB Infra., IVRCL, Hindustan Const., Nagarjuna Const. and Gammon) average of 11.3x for FY11. The Company proposes a P/E multiple of 19.9x for FY11E, which is comparable to the peers’ average of 18.8x for FY11E, respectively. However, the Company enjoys a high EBITDA margin as compared to the peer average of 16% and also offers a better ROE of 13.7% for FY11 in comparison to the peer setâ€™s average of 12.8%. So, considering attractive valuation and strong operational capabilities and parentage, we recommend investors to Subscribe to the issue.

The issue closes on March 15, 2010.

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ipo

Manappuram General Finance Bonus Issue & Stock Split

Posted by admin

at March 10, 2010

Manappuram General Finance & Leasing Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 18, 2010 to consider Bonus Issue, Stock Split / subdivision of shares. The stock closed the day at Rs.692.80, down by Rs.7.20 or 1.03%. The stock hit an intraday high of Rs.707 and low of Rs.690.

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Bonus Issue, Stock Split

Record date - IVRCL Infrastructures & Projects Bonus Issue

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at March 10, 2010

IVRCL Infrastructures & Projects has fixed 19 March 2010 for allotment of bonus shares. IVRCL Infrastructures and Projects Limited (IVRCL) declared bonus issue of equity shares in the ratio of 1:1.

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Bonus Issue, Record Date

Empower Industries Bonus Issue Approved

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at March 10, 2010

The members of Empower Industries India have approved the issue of bonus shares in the ratio of 23:2 to the existing shareholders of the company. The members have approved to increase the authorised share capital of the company from Rs 2 crore to Rs 25 crore. Further, the members have approved the issue of 3 crore convertible equity warrants on preferential basis. This was approved at the extraordinary general meeting held on 09 March 2010.

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Bonus Issue

Videocon Industries Rights Issue - Price Fixed

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at March 10, 2010

Videocon Industries Ltd has announced that the Board of Directors of the Company at its meeting held on March 10, 2010, inter alia, has fixed price of Rs. 225/- (Rupees Two Hundred Twenty Five Only), inclusive of premium, per Equity Share for Issue of Equity Shares on Rights Basis. The ratio of Two Equity Shares for every Nine Equity Shares held in the Company for the purpose of the issue of Equity Shares on Rights Basis.

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Rights Issue

DQ Entertainment IPO subscribed a staggering 84.25 times

Posted by admin

at March 10, 2010

Hyderabad based animation and entertainment production house DQ Entertainment (International)’s IPO (DQE) received bids for 111.35 crore shares compared with 1.32 crore shares on offer. The IPO was subscribed a staggering 84.25 times by 16:00 IST on last day of the issue today, NSE data showed.

The company has fixed the price band of Rs 75-80. The issue includes a reservation of up to 3.21 lakh equity shares of Rs 10 each for eligible employees.

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