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IPO Note- Prataap Snacks Limited

“Prataap Snacks is one of the top snack food companies in India and with 27% revenue CAGR between FY13-FY17, it is also one of the fastest growing companies in its sector. It has three product lines i.e. Extruded Snacks, Chips and Namkeen and has brands such as Chulbule and Yellow Diamond. It has 3 manufacturing facilities, 218 distributors and 3,500 ... Read More »

Early Chinese output cuts boost metals

“LME Aluminium prices jumped to fresh five year highs of $2191.5/t while MCX Aluminium prices touched Rs.139.2/kg, highest level since 2006 on reports that two companies in Henan province in China have started with output cuts much before the official winter restrictions. According to the report, Chinalco, China’s largest state-run aluminium producer, and Jiaozuo Wanfang were to start reducing production ... Read More »

Slender range for the index; but, party continues in individual stocks

“Once again, it was a dull start as well as the entire session for our markets. Having said that the stock specific party continues similar to what we have been witnessing of late. The Nifty remained within a slender range of 37 points and eventually concluded marginally below yesterday’s close.   It seems that traders are quite comfortable chasing individual ... Read More »

Real action seems outside the index

“Despite mixed cues from the Asian peers, our markets opened slightly higher carrying yesterday’s optimistic mood. Subsequently, index consolidated for the remaining part of the day to eventually conclude with negligible loss. Clearly, the real action was outside the index as some of the mid and small cap counters soared 10 – 20 % during the session.   Today’s price ... Read More »

IPO Note- SBI Life Insurance Co Ltd

“SBI Life Insurance is a JV between State Bank of India (SBI-70%), and BNP Paribas Cardiff (26%). The insurer’s new business premium grew 35% from FY15 to FY17; it has a leadership position with 20% market share in New Business Premium (NBP) in FY17.   Outlook & Valuation: We believe the Indian Life Insurance industry is in a phase of high ... Read More »

10043 – A key support for the index

“Our markets had a pleasant start for the week as traders across the globe seemed quite cheerful and as a result, recent record high of 10137.85 was conquered in the opening trade of the day. Subsequently, we witnessed a narrow range activity with a positive bias throughout the day. Finally, after a lot of time-wise pain, our markets moved one ... Read More »

10138 – 10000 should be considered as a key trading zone

“Our markets opened on a flat note on the back of mixed global cues. In fact, the entire day’s price action was a replica of previous session as we saw index oscillating in a small range with some profit booking taking place near historical highs. As a result, the Nifty once again closed below the 10100 mark after making yet another attempt ... Read More »

ICICI Lombard General Insurance Company Ltd

  “ICICI Lombard is the largest non-life private sector insurer in India. It is a JV between ICICI Bank and Fairfax Financial Holdings Ltd of Canada. Backed by strong parentage, and under penetration of non-life insurance business in India, the company has been on a strong growth path with its Gross Direct Premium Income growing by 26.7% over FY2015-17.   ... Read More »

RIL scales uncharted highs- Jio Dhan Dhana Dhan

“On a day when the Nifty decisively settled above the 10,000 mark, RIL marked a life time high. At a market cap of over Rs.530,000 crore, it is also the most valuable company in India. After a gap of nearly 10 years, RIL has finally broken the previous high that it had made in January 2008 at the peak of ... Read More »

Profit booking dragged index below 10100

“Today’s opening was quiet as we saw some softness in some of the Asian bourses early in the morning. The index gained some momentum in the midst of the session to march gradually towards the recent high of 10137.85. Clearly, the index heavyweight ‘Reliance’ was in the driver’s seat (similar to last 4 – 5 months), who hit fresh record ... Read More »

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