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Videocon case: CBI to produce Chanda Kochhar, husband at Mumbai spl court

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The CBI will produce ICICI Bank's former CEO and MD Chanda Kochhar and her husband Deepak Kochhar at a Mumbai Special Court Saturday afternoon in connection with alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies, officials said.

The agency will seek a police remand of both accused to interrogate them in connection with the case, they said.

A team of CBI officials is accompanying the couple on a flight to Mumbai this morning, the officials said.

The Kochhars were called to the agency headquarters on Friday and arrested after a brief questioning session.

The CBI has alleged that they were evasive in their responses and did not cooperate in the investigation.

Sources said the agency is likely to move at a swift pace to file the first charge sheet in the case, in which the Kochhars could be named along with Venugopal Dhoot of Videocon Group.

The CBI had named the Kochhars and Dhoot, along with companies Nupower Renewables (NRL) managed by Deepak Kochhar, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Limited, as accused in the FIR registered under IPC sections related to criminal conspiracy and provisions of the Prevention of Corruption Act in 2019, they said.

The CBI had alleged that ICICI Bank had sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon Group promoted by Dhoot in violation of the Banking Regulation Act, RBI guidelines, and credit policy of the bank.

It was also alleged that as a part of the quid pro quo, Dhoot made an investment of Rs 64 crore in Nupower Renewables through Supreme Energy Pvt Ltd (SEPL) and transferred SEPL to Pinnacle Energy Trust managed by Deepak Kochhar through a circuitous route between 2010 and 2012.

It is alleged that during the tenure of Chanda Kochhar at ICICI Bank, six loans worth Rs 1,875 crore were cleared for the Videocon Group and its associated companies during 2009-11. In two cases, she was on the sanctioning committees, according to the FIR.

Chanda Kochhar was on the sanctioning committee deciding two loans -- Rs 300 crore to Videocon International Electronics Limited (VIEL) on August 26, 2009, and Rs 750 crore to Videocon Industries Limited on October 31, 2011, it has alleged.

The loans were issued in alleged violation of laid-down policies and regulations of the bank, the FIR alleged.

Most of these loans became non-performing assets, causing a loss of Rs 1,730 crore to the bank, it alleged.

A day after the Rs 300-crore loan was disbursed by ICICI Bank to VIEL, Dhoot transferred Rs 64 crore to Nupower Renewables, managed by Deepak Kochhar, on September 8, 2009, it further alleged.

The transfer of Rs 64 crore was made from Videocon Industries Ltd through SEPL.

"This was the first major capital received by NRL (Nupower Renewables) to acquire the first power plant. Chanda Kochhar got illegal gratification, undue benefit through her husband from VIL/VN Dhoot for sanctioning Rs 300 crore loan to VIEL," the FIR alleged.

On May 1, 2009, Chanda Kochhar has taken over the charge of ICICI Bank as Managing Director and CEO.

China's budget deficit hits record $1.1 trillion on Covid zero slump

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The lockdowns, testing and quarantine rules that were key to the Covid Zero policy put a strain on consumer and business spending, pushing the economy close to contraction in the second quarter

China’s broad budget deficit hit a record so far this year, showing how damaging the now abandoned Covid Zero policy and the ongoing housing slump have been to the economy and to the government’s finances.

The augmented fiscal deficit was 7.75 trillion yuan ($1.1 trillion) in January to November, according to Bloomberg calculations based on data from the Ministry of Finance. That was more than double the same period last year and larger than in 2020, when the economy was battered by the initial Covid outbreak and growth was the slowest in decades.

The worsening deficit underscores just how bad the economy was at the end of November, shortly before the government in Beijing effectively scrapped its strict policy of trying to contain Covid infections.

The lockdowns, testing and quarantine rules that were key to the Covid Zero policy put a strain on consumer and business spending, pushing the economy close to contraction in the second quarter. A surge in infections this quarter has already caused a drop in retail sales in October and November.

The Covid policy was also increasingly expensive to maintain. Local governments had to bear huge costs to test and quarantine residents, while their income from land sales and taxes plummeted amid a slump in the housing market.

With Covid infections now sweeping across the country, local governments are unlikely to see an immediate improvement in tax revenue and finances. Healthcare spending is likely to jump as more people fall sick, even if spending on testing and quarantines fall. There’s also little immediate prospect for an improvement in the property market, which will likely keep land sales revenue subdued.

Consumers in some cities are avoiding crowded places, and labor shortages and factory disruptions are expected to increase in coming months as infections spread. Car sales, a rare bright spot for consumption this year, declined for the first time in six months in November, while the fall in home purchases deepened even though local authorities further eased curbs on buying.

Spending Up, Revenue Down

Total income from the general public and government fund budgets was 18.6 trillion yuan in the first 11 months of this year. That was down 3% from a year earlier, a slowdown from the 4.5% drop in the first 10 months. It would have risen 6.1% had it not been for tax rebates the government mostly handed out earlier in the year, according to the finance ministry.

Governments across the country made 715 billion yuan from selling land in November, compared with the 552 billion yuan earned in the previous month but down about 13% from a year earlier. Land sales revenue has slumped by double digits almost every month this year, and may “remain subdued in coming months given developers’ still-tight funding conditions and the ongoing Covid ‘exit wave’,” economists from Goldman Sachs Group Inc. wrote in a report after the data was released.

Revenue from deed taxes slid 23.8% in the first 11 months of the year from the same period in 2021.

Total government spending in the first 11 months was 22.7 trillion yuan, which was up 6.2% from a year earlier and compares with a 6.4% rise in the January-October period. Expenditure under the government fund budget rose 5.5%, decelerating from a 9.8% increase in the first 10 months.

Total fiscal spending is expected to total 26.3 trillion yuan this year, Finance Minister Liu Kun wrote in an article published by the official publication Study Times Monday. That compares with expenditure of 24.6 trillion yuan in 2021.

Why You Should Look for Stock Advice Online

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Do you have any idea why you should look for stock advice online? The stock market is not surely a piece of cake – it is a very intricate, well-organized, but at the same time totally volatile and unpredictable marketplace. So what about online advise? Go for it! Online advice, if it comes from a well trusted source, is the most effective, up-to-date and powerful form of stock market advice available anywhere on earth. You have got to understand that along with stock market knowledge, it is equally important to first acquire first hand stock market experience. This can only be achievable when you take into service a stock broker. Go ahead and hire one and prepare to be his apprentice. Make all your transactions though your stock broker and observe him carefully. Eventually, maybe in a couple of months, some of your stock broker’s perceptions and ploys will have chafed on you. You will at that time be knowledgeable, experienced and self confident enough to take the plunge into the stock market on your own! You should know and understand the different terms of the online stock market as well.


Get reliable internet connection

Even if you have enough knowledge and experience of the stock market and are raring to go the whole nine yards alone, you must also have a sufficiently fast and utterly reliable internet connection. There are several real life instances of people having their internet connection suddenly failing when they are making online contracts. A great many of these unfortunate people have had lasting trouble recovering their money lost due to an unstable internet connection. So, it is absolutely essential to have a consistent World Wide Web affiliation – in plain English, get a fast and dependable internet connection as soon as possible!


Get valuable online advice

Just the once you have got hold of the requirements of internet stock trading, you can as a final point formulate the hop. However furthermore be sentient that there will be thousands, if not more, of online dealers just like you, waiting to be on the same wavelength. So many online players will certainly effect a very quick change in market scenarios. Before you know, the market will have soared or fallen. So the best thing you can do is to get to be an affiliate of an online traders’ group. This will help you to get valuable online advice and your much required stock market props. Also, you will for the most part undeniably come across hi-tech problems in the vein of a dawdling business deal, grave online passage, or a terrible server. As a result for the most part intellectual activity to do at this juncture is to get hold of a ready backup. A backup will be capable of substituting for the regular connection for as long as necessary. It can be an ordinary touchtone phone line, a fax machine or maybe even your mobile handset.


Shape up an individual line

There are numerous websites that provide valuable information about the share market. Important topics like “How to start an account in the stock market”, “How and when to buy/sell” etc are all covered. Shape up an individual line of attack with the intention of you being able to rely on intently. Just the once you have shaped up your personal line of attack of carrying out business, bond devotedly to it. There will be encumbrances – there will be many attackers in the market who will tend to ill-advise you. Don’t advance on shares conditional on a random tip not including thorough examination. You must in no way be frightful. The stock market is very impulsive. The whole market picture might transform in no time at all! It possibly will so take place that the shares you have bought just the other day might be rapidly depreciating in value all of a sudden because of the dip in the stock market. Don’t hastily sell off all those shares immediately. Let your shares remain as they are unless anything elementary is amiss with your trusted company. This is why you should look for stock advice online.

Why Yes Bank shares are up 20% in two days

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Yes Bank shares are in uptrend over past few says despite weakness on Dalal Street. After logging near 11 per cent rise on Friday deals, Yes Bank share price today opened with an upside gap and went on to hit 2-year high of ₹21.15 apiece levels, ascending near 20 per cent in last two trade sessions. 

According to stock market experts, Yes Bank shares are rising after the private lender's disclosure on Friday where it informed Indian bourses about the positive developments in regard to fresh investments by Carlyle Group and Verventa Holdings Limited. They said that Yes Bank share price has given sideways trend breakout on chart pattern and it may go up to ₹28 apiece levels in short to medium term. They advised positional investors to maintain buy-on dips-strategy in the scrip till it is above ₹18 apiece levels.

Speaking on the reason for Yes Bank share price rally, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "Yes Bank shares witnessed strong upside on Friday after the private lender informed Indian bourses about positive developments in regard to fresh investments by Carlyle Group and Verventa Holdings Limited. The private lender has claimed that the Reserve Bank of India (RBI) has given conditional approval to each investors with respect to the proposed acquisition by each of them of up to 9.99% of paid up share capital of the Yes Bank. This fundamentally strong news is expected to improve asset quality of the bank, which has attracted attraction of market bulls."

Yes Bank share price target

Advising positional investors to maintain 'buy on dips' strategy in regard to Yes Bank shares, Sumeet Bagadia, Executive Director at Choice Broking said, "Yes Bank shares have given sideways trend breakout at ₹18 apiece levels and it may go up to ₹24 and ₹28 levels in short and medium term. Those who have Yes Bank in their stock portfolio are advised to maintain trailing stop loss at ₹17 and keep on accumulating for ₹24 and ₹28 targets."

For those who want to buy Yes Bank stocks, Sumeet Bagadia of Choice Broking said, "Yes Bank shares have already surged a lot. So, one should wait for the profit booking trigger and once it settles down above ₹18 levels, then only one can buy Yes Bank shares for ₹24 and ₹28 targets maintaining strict stop loss at ₹17 levels."

Yes Bank news that fueled stock price

In its latest exchange communication, Yes Bank said, "This is in relation to the proposed investment by CA Basque Investments (CA Basque Investments is part of the group of entities doing business globally as ‘The Carlyle Group’) and Verventa Holdings Limited (affiliate of funds advised/managed by Advent) (each, an “Investor" and collectively, the “Investors") in the equity shares of face value Rs. 2 (Rupees Two only) each and share warrants of Yes Bank Limited (the “Bank" and together with the foregoing, the “Subscription Securities")," adding, "Further to the Reserve Bank of India, issuing a conditional approval to each Investor with respect to the proposed acquisition by each of them of up to 9.99% of paid up share capital of the Bank through subscription to equity shares and share warrants of the Bank vide separate letters dated November 30, 2022, we wish to hereby inform that the Bank is now in receipt of two further letters (separate to each investor) from the RBI in relation to the proposed investment. Pursuant to which, the Bank shall now engage with the Investors for the completion of the proposed capital raise, subject to various regulatory compliances and conditions precedent as per the respective Investment Agreements."

Sula Vineyards raises Rs 288.10 crore from anchor book ahead of IPO

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India's largest wine producer and seller Sula Vineyards on December 9 said it has garnered Rs 288.10 crore from anchor investors, ahead of its initial public offering.

The company in its BSE filing said it has finalised allocation of 80.70 lakh shares to anchor investors, at the upper end of the price band.

The price band for the offer, which will open for subscription on December 12, has been fixed at Rs 340-357 per share. The public issue will close on December 14.

Total 22 investors bought shares of the company via anchor book including marquee participants - Abu Dhabi Investment Authority, Goldman Sachs, New York State Teachers Retirement System, Ashoka India Equity Investment Trust Plc, Segantii India Mauritius, Morgan Stanley, BNP Paribas Arbitrage, and Citigroup Global Markets Mauritius.

Domestic investors like Aditya Birla Sun Life Trustee, HDFC Mutual Fund, SBI Mutual Fund, ICICI Prudential Life Insurance, HDFC Life Insurance, Aditya Birla Sun Life Insurance, and Max Life Insurance also bought shares in the company.

"Out of the total allocation to the anchor investors, 25.21 lakh shares were allocated to 3 domestic mutual funds through a total of 5 schemes," Sula Vineyards said.

Sula Vineyards aims to raise more than Rs 960 crore by issuing over 2.69 crore shares via IPO. It is entirely an offer for sale by promoter Rajeev Samant, and investors Cofintra SA, Verlinvest SA, Verlinvest France SA, Saama Capital III Ltd, SWIP Holdings, and Haystack Investments.

Reliance Industries makes rare buy of Russian naphtha, ups fuel oil imports

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India's Reliance Industries, operator of the world's largest refining complex, is snapping up Russian refined fuels, including rare purchases of naphtha, after some Western buyers stopped Russian imports, trade flows data from Refinitiv showed.

Western sanctions against Russia over its invasion of Ukraine have led to an emergence of rare trade routes for Russian crude and refined products that were mainly sold to European countries.

India imported about 410,000 tonnes of naphtha, used for making petrochemicals, in Sept-Oct, the Refinitiv data showed.

Of this figure, Reliance received about 150,000 tonnes from the Russian ports of Ust-Luga, Tuapse and Novorossiysk during the two months, the data showed.

The private refiner did not buy Russian naphtha in 2020 and 2021. Its annual imports of Russian naphtha were restricted to just one parcel in four years to 2019, the data showed.

The data showed a panamax carrier Okyroe sailing towards India laden with about 59,000 tonnes of Russian naphtha.

"With European countries shutting down Russia, they need to find outlets for their naphtha," a trader based in India said, referring to Russian firms.

Russian naphtha is being sold at lower premiums to countries like India, two Asian naphtha traders said.


Reliance, its two plants together capable of processing 1.4 million barrels of oil a day, has emerged as a key buyer of Russian oil since Moscow's February military action in Ukraine.

It also buys straight run fuel oil from countries, including Iraq and Russia, to process at cokers in the two refineries in the western Indian state of Gujarat to boost refining margins.

Reliance's fuel oil imports from Russia have surged to a record 3 million tonnes since the beginning of this fiscal year in April, versus about 1.6 million for all of 2021/22, Refinitiv data shows.

Reliance is expected to receive about 409,000 tonnes of fuel oil in December, the data showed.

Reliance did not respond to Reuters emails seeking comments.

Mission Prarambh | Vikram-S takes off: All you need to know about India's first private sector rocket

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The country's first privately developed rocket Vikram-S blasted off on its maiden flight from the Indian Space Research Organisation’s Sriharikota spaceport, about 115 kms from Chennai, at 11.30 am on November 18.

The Mission Prarambh (the beginning) is a major milestone in India's space journey, making Skyroot Aerospace the first private company to launch its rocket two years after the sector was opened to private players.

Named after Vikram Sarabhai, the founder of India’s space programme, Vikram-S carries three satellites, including one by SpaceKidz India called FunSat, parts of which were developed by school students.

Its previous November 12 launch date was called off due to bad weather.

The Vikram rockets will be able to carry between 290 kg and 560 kg payloads into sun-synchronous polar orbits. The rocket is one of the world's first few all-composite rockets that has 3-D printed solid thrusters for spin stability of the launch vehicle.

This launch will aid in the validation of many technologies for Skyroot Aerospace's other launch vehicles in the Vikram series, such as Vikram I/II/III, and will also play an important role in determining when Vikram I will launch next year.

(This is a developing story. Keep following the space for updates.)

Crunchy debut for Bikaji Foods as shares open 7.5% above IPO price

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Bikaji Foods International: Bikaji Foods International to make a debut on November 16. The country's third largest ethnic snacks company will make its grand debut on the bourses on November 16. The issue price has been fixed at Rs 300 per share.

Snacks company Bikaji Foods made a firm start on the bourses on November 16 as the stock traded 7.6 percent above the IPO price of Rs 300, listing at Rs 321.15 on the BSE and at Rs 322.80 on the National Stock Exchange.

The Rs 881-crore initial public offering (IPO) was subscribed 26.67 times during the November 3-7 period backed by qualified institutional buyers. QIBs subscribed more than 80 times their quota of shares and high net-worth individuals over seven times. The portions set aside for retail investors and employees were subscribed 4.77 and 4.38 times.

The ethnic snacks company had fixed the price band for the issue at Rs 285-300 a share.

Analysts like that the company leads in its core states (Rajasthan, Assam, and Bihar) and boasts an international footprint, a healthy top line and a strong management team

Speaking to CNBC-TV18, Rishabh Jain, CFO, Bikaji Foods said, “We are looking at double-digit margin in the second half of this year. We don’t need major capex for next 3-4 years. Core markets are 72 percent of total business and we will be focussing on growing that. Uttar Pradesh is the biggest market for us.”

Revenue from operations grew 22.90 percent to Rs 1,610.96 crore for FY22 from a year ago. However, net profit declined to Rs 76.03 crore in FY22 as against Rs 90 crore in FY21 on the back of high input costs. “Sustainability of margins going forward amidst stiff competition raises concerns,” said Manoj Dalmia, founder and director, Proficient Equities.

Bikaji Foods competes with Haldiram’s, the market leader in traditional savouries and snacks in India. Owners of Haldiram's are related of the promoters of Bikaji Foods. Bikanerwala Foods, Balaji Wafers, Prataap Snacks, DFM Foods, Pepsi and ITC are the other players in the segment.

Why Nifty Is Falling Today

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Reasons Why Nifty is falling like anything:

Covid lockdowns: 

Austria said it would reintroduce lockdowns -- and make vaccination mandatory from February -- to fight a worrying jump in new infections. Other countries including Germany, Slovakia, the Czech Republic and Belgium were also bringing in measures.

Rate hikes earlier than expected: 

Bundesbank president Jens Weidmann publicly contradicted the European Central Banks official line on Friday, warning that inflation may stay above 2 per cent for some time and that the ECB should avoid any commitment to keeping the money taps open.

Crude oil falls: 

Oil extended losses as major consumers including the United States considered releasing some of their reserves to keep a lid on prices, which have been a key reason for the jump in inflation this year.

Broader markets:

Broader market indices were trading down, underperforming their headline peers in morning trade. Nifty Smallcap was down 0.84 per cent while Nifty Midcap declined 0.83 per cent. Broadest index on NSE, Nifty 500 was down 0.58 per cent.

Global markets:

Asian markets mostly fell Monday. In early trade, Tokyo, Hong Kong, Sydney, Wellington, Taipei, Manila and Jakarta were all down, though there were gains in Seoul and Singapore.

Click Here To Get Live Risk Free Trading Recommendations 

Stock Market Report For 15 March 2021

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Topic :- Share Market Closing Note

Indian benchmark indices fell for the second day in a row on March 15 but recovers some of the intraday losses with Nifty finishing above 14,900 mark.

At close, the Sensex was down 397.00 points or 0.78% at 50,395.08, and the Nifty was down 101.50 points or 0.68% at 14,929.50. About 1210 shares have advanced, 1788 shares declined, and 207 shares are unchanged.

Divis Labs, Hero MotoCorp, Coal India, Bajaj Finserv and GAIL were among major losers on the Nifty, while gainers included JSW Steel, Tata Steel, Tech Mahindra, Power Grid Corp and IndusInd Bank.

Among sectors, metal, IT and PSU bank indices ended in the green, while seling witnesse in the auto, infra and pharma sectors. BSE Midcap and Smallcap indices ended 0.5 percent lower.


Topic :- Time:3.00 PM

Nifty is showing smart recovery now. Nifty spot if manages to close above 14940 level then expect some further upmove in coming sessions and close below above mentioned level will result in some sluggish movement.


Topic :- Time:2.30 PM

CRUDEOIL Trading View:

CRUDEOIL is trading at 4800.If it manages to trade and sustain above 4820 level then expect some rise in it and if it breaks and trade below 4790 level then crudeoil is likely to show some decline.


Topic :- Time:2.20 PM

Just In:

Ratan Tata acquires stake in Pritish Nandy Communications.


Topic :- Time:2.00 PM

Nifty spot if manages to trade and sustain above 14840 level then expect some more recovery in the market and if it breaks and trade below 14800 level then some decline can follow in Nifty.


Topic :- Time:1.30 PM

COPPER Trading View:

COPPER is trading at 678.If it manages to trade and sustain above 680 level then expect some upmove in it and if it breaks and trade below 677.50 level then some decline can be seen in the market.


Topic :- Time:1.10 PM

Nifty is on the verge of decline. Nifty spot if breaks and trade below 14740 level then expect some further decline in the market and if it manages to trade and sustain above 14780-14800 levels then some upmove can be seen in the market. As nifty is still trading with negative bias traders are advised to avoid taking big long positions.


Topic :- Time:12.51 PM

Just In:

February WPI inflation at 4.17%, reaches 27-month high

The Wholesale Price Index (WPI) numbers for February 2021 has been released by the Ministry of Commerce and Industry.

WPI inflation for the month is at 4.17 percent compared to 2.26 percent for the corresponding period in January 2021, as per a ministry release

This is a 27-month high.

WPI inflation was at 2.03 percent in January 2021 and at 2.26 percent in February 2020.

WPI Food Index in February 2021 stood at 3,31 percent, an increase against (-)0.26 percent in the previous month.

In Non-food Articles, inflation was at (-)0.51 percent in February, a decline compared to January, 2021.


Topic :- Time:12.30 PM

GOLD Trading View:

GOLD is trading at 44800.If it breaks and trade below 44760 level then some decline can be seen in GOLD and if it manages to trade and sustain above 44820 level then some upmove is likely to follow in this bullion.


Topic :- Time:12.00 PM

Nifty is likely to turn more volatile now. Nifty spot if manages to trade and sustain above 14840 level then some further upmove can be seen in the market and if it breaks and trade below 14820 level then some decline is likely to follow in the Nifty.


Topic :- Time:11.55 AM

Must Subscribe in the public issue of 

Craftsman Automation Ltd

Recommendation - Subscribe for listing Gain and Investment 

Face Value- Rs 5

Issue Opens - 15th Mar, 2021 (Monday)

Issue Closes - 17th Mar, 2021 (Wednesday)

Issue Size - Rs 832.7 crore at Upper Band

Price Band - Rs 1488-1490

No.of Shares - Fresh Issue of 1,006,711 Eq Shares of ₹5 (aggregating up to ₹150.00 Cr) +Offer for Sale of 4,521,450 Eq Shares of ₹5 (aggregating up to ₹673.70 Cr)

Minimum Lot Size - 10

Minimum App Amount - Rs 14900/ at Upper End


Promoter Srinivasan Ravi is the chairman and managing director of the company. He is a mechanical engineer by training and a first-generation entrepreneur with over 34 years of industry experience. He holds 52.83 percent of the paid-up equity of the company, while the total shareholding of promoter and promoter group is 63.40 percent.

The company had received funding from global investors, International Finance Corporation in 2010 and 2012, and Standard Chartered Private Equity (Mauritius) II in 2012 (which transferred its stake to its affiliate, Marina III Singapore Pte in 2017). IFC and Marina presently have 14.06 percent and 15.50 percent shareholding, respectively, in the company.

Existing Shareholding Pattern

Shareholder             % of Share held

1. Srinivasan Ravi      52.83%

2. Marina               15.50%

3. IFC                  14.06%

4. S Murali         10.57%

5. K Gomatheswaram      7.04%

Objective of the Issue

The company will utilise fresh issue proceeds for repaying certain borrowings to the extent of Rs 120 crore, while the funds from the offer for sale will go to the selling shareholders� the promoter and investors.

Company Background

The company commenced operations in 1986 in Coimbatore, Tamil Nadu. 

Craftsman Automation is a diversified engineering company with vertically integrated manufacturing capabilities, engaged in three business segments�powertrain and other products for the automotive segment, aluminium products for the automotive segment and industrial and engineering products segment. It is the largest player in the machining of cylinder blocks and cylinder heads in the intermediate, medium and heavy commercial vehicles segment as well as in the construction equipment industry in India.

Manufacturing Facilities

It owns and operates 12 manufacturing facilities in seven cities in India, with a total built-up area of over 1.5 million square feet.

Product Range

Its key products are highly engineered and include crankcase and cylinder blocks for two-wheelers, engine and structural parts for passenger vehicles and gearbox housing for heavy-commercial vehicles.

Marquee Clients

The end-users for its products include original equipment manufacturers (OEMs) producing commercial vehicles, special utility vehicles, tractors and off-highway vehicles.

Clients Include: Daimler India, Tata Motors, Tata Cummins, M&M, TAFE, Escorts, Ashok Leyland, Mitsubishi Heavy Industries, John Deere, JCB India, TVS Motors, Royal Enfield, Siemens 

Client Concentration in Revenue

It has a diversified client base with top 10 customers accounting for 59.15 percent, 53.41 percent, 56.25 percent and 52.59 percent of revenue from operations, in the nine months ended December 2020 and FY20, FY19 and FY18, respectively.

Financials Growth

Craftsman Automation registered a revenue growth at a CAGR of 0.5 percent during FY18-FY20 and profit grew at a CAGR of 14.1 percent.

(Fig in Rs Cr)     FY18       FY19       FY20       9m FY21

Net Revenue        1479       1818 1492       1023

EBITDA       294       443 398        288

EBITDA Margin(%)   20%        24.3%      27%        28%


PAT                32         97 41         51

EPS                16         48         21         25


Stock is rightly priced in the IPO. One can subscribe for the listing gain and for Investment.

We expect decent listing gains.


Topic :- Time:11.40 AM

Just In:

Kalyan Jewellers to launch IPO tomorrow


Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex plunges 700 pts, Nifty below 14,900; bank stocks crack

2. Tech Mahindra gains 2% as Co to acquire 70% stake in Perigord

3. Vedantas dues, rising interest rates sound trouble for Anil Agarwal

4. Coronavirus: India cases at 11,385,158; Pune reports 3,267 fresh cases

5. MTAR Tech makes stellar debut, lists at 85% premium over issue price

6. Packaging stocks hit new highs; Jindal Polyfilms, Uflex surge up to 10%

7. Adani Welspun finds gas in Mumbai Offshores Tapti-Daman sector

8. Vodafone changes tack, looks to borrow funds

9. RBI rejects Yes Banks ARC plan, cites conflict of interest

10. Growth prospects for Orient Electric firm but margin improvement holds key


Topic :- Time:11.00 AM

After flat opening nifty is trading in red zone. Nifty spot if breaks and trade below 14820 level then expect some further decline in the market and if it manages to trade and sustain above 14860 level then some pull back can be seen in the market.


Topic :- Stocks under F&O ban on NSE


2. Punjab National Bank


4. Sun TV


Topic :- Stocks in the news

Jindal Saw: Brickwork Ratings revalidated its rating as BWR AA/Stable for bonds amounting to Rs 500 crores of the company.

Kotak Mahindra Bank: The board of directors approved dividend on 100 crore Nos. 8.10 percent non-convertible perpetual non-cumulative preference shares of the face value of Rs 5 each for FY21. The record date for the purpose of payment will be March 19, 2021.

Bajaj Finance: The debenture allotment committee of the company has allotted 300 secured redeemable non-convertibles debentures on a private placement basis.

JSW Steel: India Ratings and Research has reaffirmed the companys rating at AA, with the outlook revised to stable from negative.

IIFL Finance: The company will close its bond issue early on March 18 instead of March 23, 2021.

SBI Card: The board approved raising up to Rs 2,000 crore by issuing bonds.​


Topic :- Nifty Opening Note

Indian Stock Market Trading View For 15 March,2021:

Nifty is likely to remain volatile and is expected to show few more wild moves. Global cues will be trend setter. Reliance stock and Banking stocks to be eyed.

Nifty spot if manages to trade and sustain above 15060 level then expect some upmove and if it breaks and trade below 14080 level then some decline can be seen in the market. Please note this is just opening view and should not be considered as the view for the whole day.


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