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May 3rd 2017: CDSL to launch its IPO this month

CDSL to launch its IPO this month:

Securities depository in India, Central Depository Services (India) Limited is planning to come up with initial public offering. After grand listing of BSE Limited with a premium of 35%, investors are bracing for CDSL IPO. The objectives of the IPO are to achieve the benefits of listing and to enhance its visibility and brand image and provide liquidity to its existing shareholders.

The tentative date for the IPO is out. The IPO issue is likely to open on June 19 and closing on June 21, 2017. It is likely to follow book building process wherein price band is fixed at Rs 113 to Rs 115 per equity share. The minimum order quantity is one market lot which constitutes 130 shares.

The issue size stands at 3,51,67,208 equity shares.

For more details, click on the following link:

http://www.indiainfoline.com/article/news-top-story/cdsl-ipo-ipo-watch-cdsl-to-launch-its-ipo-this-month-117060100538_1.html

May 30th 2017 : Secondary Market Values ICICI Lombard at Rs 26kcr

Secondary Market Values ICICI Lombard at Rs 26kcr :

The secondary market values general insurer ICICI Lombard 30 per cent higher than the Warburg Pincus deal which valued the insurer at Rs 20,000 crore. The general insurer, planning to be the first to be listed, is fetching a premium because those with Esops are selling shares at Rs 550-570 apiece valuing the insurer at Rs 26,000 crore in the secondary market, said sources in know of the situation.

On Saturday, ICICI Lombard General Insurance said its foreign partner, Canada-based Fairfax, has offloaded part stake of 12.18 per cent to a clutch of investors, including Warburg Pincus, for Rs 2,473 crore. Experts expect heightened off-market activity post the deal.

For more details, kindly click on the below link:

http://economictimes.indiatimes.com/markets/stocks/news/secondary-market-values-icici-lombard-at-rs-26kcr/articleshow/58905381.cms

 

May 23rd 2017: ICICI Lombard may be first private general insurer to go public this year

ICICI Lombard may be first private general insurer to go public this year:

ICICI Lombard, the largest private general insurer in the country, has begun groundwork for its initial public offering (IPO), in what may well be the first public offering by a private general insurer.

 

The insurer has begun preliminary discussions with investment bankers and is aiming to hit the market in the second half of this financial year, said two people familiar with the matter. The issue is expected to be anywhere between Rs 3,000 and Rs 4,500 crore.

 

is a joint venture between and Canada-based Financial Holdings. The will help shareholders to monetise their holdings and help Fairfax, which currently holds 35 per cent in the joint venture, to divest its stake.
For more details, click on the following link:
http://www.business-standard.com/article/markets/icici-lombard-may-be-first-private-general-insurer-to-go-public-this-year-117051801385_1.html

May 23rd 2017: Tata Technologies buys Swedish engineering & design specialist Escenda

Tata Technologies buys Swedish engineering & design specialist Escenda:

has entered into a definitive agreement to acquire AB, the Gothenburg (Sweden) based & design specialist.

 

The acquisition helps accelerate its plans to expand in Europe due to the rapid growth opportunity the region offers in both the and sectors. Europe’s industry is the world’s leading producer of motor vehicles by volume and is also the largest private investor in R&D in Europe.

 

Following the acquisition, will become a wholly owned subsidiary of Europe Limited. The company will maintain the same management team and full workforce under the new ownership.
For more details, click on the following link:
http://www.business-standard.com/content/b2b-manufacturing-industry/tata-technologies-buys-swedish-engineering-design-specialist-escenda-117050900317_1.html

May 23rd 2017: HDFC Life inks distribution tie-up with Catholic Syrian Bank

HDFC Life inks distribution tie-up with Catholic Syrian Bank:

HDFC Life today said it has entered into a bancassurance tie-up with Catholic Syrian Bank to distribute its individual life insurance products to the private lender’s customers.

With this partnership, HDFC Life will offer its leading range of individual life insurance, health and pension products to the Catholic Syrian Bank’s 1.5 million customer base across all its branches over a period of time, a release said.

“We are proud to announce our partnership with Catholic Syrian Bank, our first bank partnership in Kerala. In keeping with our endeavour to increase our reach and access customers across geographies, this partnership would enable us to offer our products to over 1.5 million customers of Catholic Syrian Bank across Kerala and other states,” said HDFC Life Managing Director and CEO Amitabh Chaudhry.

may 16th 2017 : MSEI to launch new interest rate futures contracts tomorrow

MSEI to launch new interest rate futures contracts tomorrow:

Metropolitan Stock Exchange of India Ltd (MSEI) will introduce tomorrow new 10-year interest rate futures (IRF) contracts offering 6.79 per cent yield on central government bonds. The contracts would mature in 2027 and are available to entities like banks, primary dealers, mutual funds, insurers, FIIs, corporates and retail investors, for trading on the exchange’s platform, MSEI said in a statement today.

“The stock exchange will launch the new IRF contracts on May 16,” MSEI said. Other national bourses, BSE and NSE would also be launching similar contracts tomorrow.

For more details, kindly click the following link:

MSEI to launch new interest rate futures contracts tomorrow

May 16th 2017 : HDFC Life inks distribution tie-up with Catholic Syrian Bank

HDFC Life inks distribution tie-up with Catholic Syrian Bank:

HDFC Life today said it has entered into a bancassurance tie-up with Catholic Syrian Bank to distribute its individual life insurance products to the private lender’s customers.

With this partnership, HDFC Life will offer its leading range of individual life insurance, health and pension products to the Catholic Syrian Bank’s 1.5 million customer base across all its branches over a period of time, a release said.

“We are proud to announce our partnership with Catholic Syrian Bank, our first bank partnership in Kerala. In keeping with our endeavour to increase our reach and access customers across geographies, this partnership would enable us to offer our products to over 1.5 million customers of Catholic Syrian Bank across Kerala and other states,” said HDFC Life Managing Director and CEO Amitabh Chaudhry.

May 5th 2017: Dollar Industries gets listed on NSE

Dollar Industries gets listed on NSE:

Kolkata based hosiery company Dollar Industries Limited made its debut on the National Stock Exchange with effect from today, a company statement said.

The listing of the company, on one of the premier stock exchanges of the country, was expected to enhance the visibility of the company’s equity shares and also provide liquidity for its existing and prospective investors.

Vinod Kumar Gupta, Managing Director, Dollar, said “listing on one of the premier stock exchanges is a significant milestone for the company“.

The company has a market share of over 15 per cent in the branded knitwear market, the statement said.

April 27th 2017: Sebi asks stock exchanges to strengthen system audits

Sebi asks stock exchanges to strengthen system audits:

Suspected irregularities in algorithmic trading at India’s largest bourse have prompted the markets regulator to order enhanced system audits at stock exchanges nationwide, two people aware of the development said.

The Securities and Exchange Board of India (Sebi) move aims to prevent misuse of algorithmic trading and ensure that no broker gets an unfair access to trading systems.

“Sebi wants to ensure that incidents like the one happened at NSE are not repeated in future. Sebi has asked exchanges to increase the scope of audits and submit the reports to Sebi with their observations and recommended changes in the exchange’s technology, co-location facilities, broker network, broker profiles, trading pattern, volume/concentration analysis and so on,” said the first person.

Sebi also asked them to proactively adopt systems for additional safeguards to protect the market integrity and ensure that all investors are treated equitably, the first of the two persons said.

For more details, kindly click on the following link:

http://www.livemint.com/Money/ScYH4zH1HK9z0iUN2xNmrL/Sebi-asks-stock-exchanges-to-strengthen-system-audits.html

April 27th 2017: Housing finance companies scorch the charts on upgrade hopes

Housing finance companies scorch the charts on upgrade hopes:

Shares of top-rated housing finance companies (HFCs) hit a one-year high on Tuesday as investors bet on the gains to the sector from the government’s ambitious target of ensuring a home to every family by 2022.

HDFC, Indiabulls Housing, DHFL, LIC Housing, GIC Housing and PNB Housing caught the investors’ fancy amid possibility of rating upgrades.

“Outlook for HFCs is strong given the government’s push for the sector,“ said Karthik Srinivasan, group head for financial sector ratings at ICRA. “There is no material asset quality concern, while demonetisation has not impacted the HFCs adversely. Lower cost of funds help in supporting interest margins.“

For more details, Kindly click on the following link:

http://realty.economictimes.indiatimes.com/news/allied-industries/housing-finance-companies-scorch-the-charts-on-upgrade-hopes/58371520

April 26th 2017: Iron ore crisis to slow steel capacity expansion after 2020

Iron ore crisis to slow steel capacity expansion after 2020:

The country is likely to face a major crisis due to the lapse of key operating mines by March 31, 2020. The deficit in domestic supplies after March 2020 is seen at around 80 million tonne. This, in turn, is bound to put brakes on building India’s steel-making capacity as it targets an ambitious 300 million tonne (mt) output by 2030.

 

Supplies in would be more pronounced in Odisha, the largest producing state where 17 mines are set to run out of operations. The combined annual capacity of these mines is estimated at 66 mt. The shortfall from would especially hurt the domestic companies as the state’s is predominantly used in within the country as opposed to the export-oriented ore in and Karnataka.
For more details, kindly click on the following link:
http://www.business-standard.com/article/markets/iron-ore-crisis-to-slow-steel-capacity-expansion-after-2020-117042500921_1.html

April 22nd 2017: ICICI Lombard net profit grows 38% to Rs 702 crore in fiscal 2017

ICICI Lombard net profit grows 38% to Rs 702 crore in fiscal 2017:

ICICI Lombard General Insurance Company on Friday reported an increase of 38.3% in net profit at Rs 701.9 crore for the fiscal ended March 2017.

The company’s net profit in the preceding fiscal 2015-16 stood at Rs507.5 crore.

The gross domestic premium income of the company rose by 32.6% to Rs 10,725.90 crore, a company statement said.

“The robust performance was delivered on the back of increase in policies serviced at 1.77 crore in 2016-17 compared to 1.58 crore policies in 2015-16,” it said.

“As we progress through the year, we shall…further expand our insurance solutions proposition as well as enhance our customer service and claim leadership stature backed by innovative technology,” ICICI Lombard, MD and CEO, Bhargav Dasgupta said.

 

For more details, click on the following link:

http://www.livemint.com/Companies/MHX8R7YsCi0Mvcr4wz5thO/ICICI-Lombard-net-profit-grows-38-to-Rs-702-crore-last-fisc.html

April 18th 2017: Tata Technologies plots new growth through push in China, acquisitions

Tata Technologies plots new growth through push in China, acquisitions:

Engineering services and product development IT services provider Tata Technologies is in expansion mode, which is based on two key strategies – enhancing focus on China and acquiring companies in various locations, including China at a later stage.

Tata Technologies has had a presence in China for the last few years through its members working in customer sites and a small shared office, but starting this month, with a brand new office in Shanghai, the focus on the world’s largest automobile market gets more trained. “China is growing exponentially for us and that’s a very exciting space,” Warren Harris, CEO & MD, Tata Technologies, told Autocar Professional, in an exclusive interview.  The company’s revenue in China saw a whopping over 8-fold growth to $25 million last year over the previous year.

Lightweighting capabilities give new strength
Tata Technologies is working with at least 5 Chinese OEMs. What is helping the company is its capabilities in technologies such as lightweighting that are highly valued by vehicle OEMs, and more so by electric vehicle (EV) makers.

China, the world’s largest EV market, has also devised policies to promote the electric vehicle industry. Harris ‘sees’ an inflection point in the global electric vehicle industry. “We anticipate in the next 3-5 years that the less than one percent market share EVs enjoy will, in some of the mature markets, get up to 3 or 5 percent,” says Harris. And since industry players have to prepare in advance to tap the opportunities that could come in 3-5 years, Tata Technologies is among the “beneficiaries of many of the decisions that are being taken now”. Banking on the growth opportunities, Tata Technologies has set its sights on crossing the $100 million mark in China in 5 years from now. That would be the equivalent of the company’s operations in US and Europe. “I would be disappointed if China is not the same size as our US and European organisations in 5 years’ time,” says Harris.

For more details, kindly click on the below link:

http://www.autocarpro.in/news-national/tata-technologies-plots-growth-push-china-acquisitions-24327

April 11th 2017: Fino Paytech inks deal with ICICI group companies to distribute insurance products

Fino Paytech inks deal with ICICI group companies to distribute insurance products:

Fino Paytech, which just received the Reserve Bank of India’s licence to launch a payments bank, has inked a deal with ICICI group companies to distribute insurance products and tied up with Exide Life insurance to sell products via its distribution channel.

Fino Payments Bank will sell life and general insurance products of ICICI Prudential and ICICI Lombard.
“On life insurance, we have tied up with ICICI Prudential and Exide Life Insurance, on non-life we have only tied with ICICI Lombard,” said Rishi Gupta, CEO, Fino Paytech. “On the life side, we believe there are multiple products that can be sold, so we planned two tie-ups. Health insurance will also be provided by the non-life partner. We also got our corporate agency licence on insurance.”

For more details, kindly click on following link:

http://economictimes.indiatimes.com/news/industry/banking/finance/fino-paytech-inks-deal-with-icici-group-companies-to-distribute-insurance-products/articleshow/58103657.cms

April 5th 2017 : Share buybacks kick up a storm on defunct bourses

Share buybacks kick up a storm on defunct bourses:

Angry public shareholders of many companies listed on nonfunctional regional stock exchanges are inundating the market regulator with complaints of getting shortchanged by promoters rushing to buy back the shares.

Hundreds of such companies announced exit offers for public shareholders in the past few weeks, following a regulatory diktat that they either get listed on national-level bourses or delist.

In their complaints to the market regulator Sebi and stock exchanges, shareholders alleged the prices offered by the companies for their stake to be abnormally low. They want the share buyback price to be determined through a transparent process and not solely by the bankers hired by the companies themselves.

For more details, kindly click on following link:

http://economictimes.indiatimes.com/markets/stocks/news/share-buybacks-kick-up-a-storm-on-defunct-bourses/articleshow/58020197.cms

 

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