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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.
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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.
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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.
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Topic :- Time:2.20 PM
Just In:
Ratan Tata acquires stake in Pritish Nandy Communications.
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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.
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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.
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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.
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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.
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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.
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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.
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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
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
Conclusion
Stock is rightly priced in the IPO. One can subscribe for the listing gain and for Investment.
We expect decent listing gains.
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Topic :- Time:11.40 AM
Just In:
Kalyan Jewellers to launch IPO tomorrow
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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
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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.
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Topic :- Stocks under F&O ban on NSE
1. BHEL
2. Punjab National Bank
3. SAIL
4. Sun TV
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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.
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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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