Techsuvichar: May 2019

Monday, May 13, 2019

Muthoot Finance May 2019 Tranche-II NCD offer review.

Muthoot Finance Ltd (MFL) is the largest gold loan NBFC based on the loan portfolio in India. The company provides personal and business loans secured by gold jewellery, or Gold Loans, to individuals.Muthoot Finance is a 'Systemically Important Non-deposit taking NBFC' headquartered in the south Indian state

of Kerala. In addition to Gold Loans, itprovides money transfer services through their branches as sub-agents of various registered money transfer agencies and has commenced providing collection agency services. The company also operate three windmills in the state of TamilNadu.As of December 30, 2018, the company has around 8.05 million loan accounts. It has built a network of 4,422 branches across 23 states, Delhi and the 5 union territories in India. It operates 218 ATMs spread across 17 states. The company employs24,063 persons in its operations

Muthoot Finance NCD (May 2019) Detail

Issue Open May 10, 2019 - Jun 10, 2019

Security Name Muthoot Finance Limited

Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)

Issue Size (Base) Rs 100.00 Crores

Issue Size (Shelf) Rs 4,000.00 Crores

Issue Price Rs 1000 per NCD

Face Value Rs 1000 each NCD

Minimum Lot size 10 NCD

Market Lot 1 NCD

Listing At BSE

Credit Rating AA (Stable) by ICRA and AA (Stable) by CRISIL

NCD Allocation Ratio

NCD's allocated in each investor category:

Category 1 (QIB) 10%

Category 2 (NII) 10%

Category 3 (HNI) 30%

Category 4 (RII) 50%

a high degree of safety regarding timely servicing of financial obligations.

Company Promoters

The promoters of the company are:

1. M G George Muthoot,

2. George Alexander Muthoot,

3. George Thomas Muthoot,

4. George Jacob Muthoot

Objects of the Issue:

The Net Proceeds raised through this Issue will be utilized for the purpose of-:

1. Lending- 75% of the amount raised and allotted in this Issue

2. General Corporate Purposes- 25% of the amount raised and allotted in this Issue

Ratings

This issue is rated ICRA AA/Stable and CRISIL AA/Stable. The rating of the Secured NCDs and Unsecured NCDs by ICRA and

CRISIL indicates high degree of safety regarding timely servicing of financial obligations.

Offerings

NCDs have tenure of 24 months, 38 months, 60 months and 90 months. It offers coupon rates ranging from 9.25% to 10.00%

based on the tenure and the interest payment options.

Company Contact Information

Muthoot Finance Limited

Muthoot Chambers,

Opp Saritha Theatre Complex, 2nd Flr,

Banerji Road, Kochi 682 018

Phone: (+91 484) 239 4712

Email: ncd@muthootgroup.com

Website: http://www.muthootfinance.com

Muthoot Finance NCD (May 2019) Registrar

Link Intime India Private Ltd

C 101, 247 Park, L.B.S.Marg,

Vikhroli (West), Mumbai - 400083

Phone: +91-22-4918 6270

Email: mfl.ncd2019@linkintime.co.in

Website: http://www.linkintime.co.in

Conclusion / Investment Strategy

Considering AA Stable ratings by ICRA and CRISIL and the standing of the group in the segment, investors lookingfor regular steady income may consider long term investment. (Subscribe).

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Saturday, May 11, 2019

ECL Finance NCD Tranche-I (May 2019) offer review.

Incorporated in 2005,Mumbai based ECL Finance Limited is a leading systemically important non-deposit taking NBFCs. The company is a part of the Edelweiss Group, one of India's prominent financial services organization.The company is focused on offering a wide range of secured corporate and retail loan products to corporates, SMEs and individuals.

The company's loan product portfolio includes-

1. Structured Collateralised Credit

2. Wholesale Mortgages

3. SMEs and others

4. Loans against securities

5. Retail Mortgages

6. Agri Credit

ECL's income from operations grew at a CAGR of 39.32% from Rs 8,122.76 million in 2014 to Rs

30,600.27 million in 2018. The PAT grew at a CAGR of 30.35% from Rs 1,600.44 million in 2014 to

Rs 4,620.47 million in 2018. The loan book grew by 37.84% from Rs 60,959.79 million in 2014 to

Rs 220,081.23 million in 2018.

Key Strengths of the Company-

1. Established brand as a part of Edelweiss Group

2. Wide network with over 100 branches across India

3. Track record of high growth and profitability

4. Secured loan book with good asset quality

ECL Finance NCD April 2019 Detail

Issue Open May 10, 2019 - Jun 7, 2019

Security Name ECL Finance Limited

Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)

Issue Size (Base) Rs 300.00 Crores

Issue Size (Shelf) Rs 2,000.00 Crores

Issue Price Rs 1000 per NCD

Face Value Rs 1000 each NCD

Minimum Lot size 10 NCD

Market Lot 1 NCD

Listing At BSE

Credit Rating CARE AA (Positive); CRISIL AA/Stable;

Tenor 39 Months/ 2 Years/ 5 Years/ 10 Years

Series Series I to Series IX

Payment Frequency Monthly, Annual and Cumulative

Basis of Allotment Priority Basis

The NCDs proposed to be issued under this Issue have been rated "CARE AA; Positive" (pronounced as CARE AA with Positive outlook)

And "CRISIL AA/Stable" (pronounced as CRISIL double

A rating with Stable outlook)

Company Promoters

Edelweiss Financial Services Limited is the promoter of the company.

Objects of the Issue:

The Company proposes to utilise the funds for following objects:

1. For the purpose of onward lending and for repayment of interest and principal of existing loans;and

2. For general corporate purposes.

Company Contact Information

ECL Finance Limited

Edelweiss House,

Off. C.S.T Road, Kalina,

Mumbai 400098, Maharashtra

Phone: +91 22 4009 4400

ECL Finance NCD April 2019 Registrar

Link Intime India Private Ltd 1/)

Link Intime India Private Ltd

C 101, 247 Park, L.B.S.Marg,

Vikhroli (West), Mumbai - 400083

Phone: +91-22-4918 6270

Email: eclapr2019.ncd@linkintime.co.in

Wednesday, May 8, 2019

Market News 02

M&M Launches TUV300 Facelift

Mahindra & Mahindra (M&M) on Friday launched an updated version of its compact SUV TUV300 priced at 8.38 lakh (ex-showroom, Mumbai). It features design enhancements and new features like piano black front grille with black chrome inserts, muscular side cladding and a newly designed pare wheel cover, M&M said.

US Court Rejects Plea for Sales Curbs on Cipla Pharma major Cipla Friday said the US District Court of Delaware has denied Amgen Inc's request for preliminary injunction to stop Cipla's continued sale of its generic cinacalcet hydrochloride tablets in the US market. The company had announced a phased launch of the drug used in the treatment of secondary hyperparathyroidism in adults with chronic kidney disease on dialysis.

Century Textiles Posts ₹227.6-crore Profit in Q4 Century Textiles and Industries (CTIL) on Friday reported a standalone net profit of

₹227.6 crore for the fourth quarter ended March 2019. It had posted a net profit of ₹108.7 crore in the January-March quarter a year ago,

Century Textiles said in a BSE filing. The company’s total

income during the quarter was ₹1,008.5 crore. It was ₹993.3 crore in the corresponding quarter of the previous fiscal. CTIL’s total expenses stood at ₹765.4 crore. Meanwhile, the company said its

results are not comparable as it had granted right to manage and operate its Viscose Filament Yarn business to Grasim Industries from February 1, 2018, which paid an upfront royalty of ₹600 crore.

No Gold Shifted Outside India in 2014 or Thereafter: RBI

The Reserve Bank of India (RBI) on Friday said no gold was shifted outside the country in 2014 or thereafter. The statement comes against the backdrop of reports in certain sections of the print and social media regarding the central bank shifting abroad a part of its gold holding in 2014. It is a normal practice for central banks world

over to keep their gold reserves overseas with central banks of other countries like Bank of England for safe custody, according to the

statement. “It is further stated that no gold was shifted by the RBI from India to other countries in 2014 or thereafter. Thus the media reports cited above are factually incorrect,” the statement said.

Yes Bank Fined for Violating Money Transfer NormsYes Bank on Friday said the Reserve Bank of India has imposed a penalty of ₹11.25 lakh on it for violating money transfer norms. “(The) Reserve Bank of India (RBI) vide its speaking order dated April 22, 2019, imposed a penalty of ₹11,25,000 under the Payment and Settlement Systems Act, 2007,” Yes bank said in a regulatory filing. The RBI has identified certain violations of its circular of 2011 on Domestic Money Transfer — Relaxations and master directions issued in October 2017 on issuance and operation of prepaid payment instruments in connection with certain product features for an open loop prepaid card (co-branded) previously issued by the bank, Yes Bank said.

RBI Imposes Penalties on Vodafone m-pesa, PhonePe

The Reserve Bank of India on Friday said it has imposed penalties on five prepaid payment instrument (PPI) issuers, including Vodafone m-pesa and PhonePe, for violation of regulatory norms.

Also, penalties have been imposed on Western Union Financial Services and MoneyGram Payment Systems, both US firms, for non-compliance of guidelines. “In exercise of powers vested under

Section 30 of the Payment and Settlement Systems Act, 2007, the Reserve Bank of India has imposed monetary penalty on...five PPI Issuers for noncompliance of regulatory guidelines,” the central

bank said in a statement.

Sunday, May 5, 2019

Indiabulls Firms to Merge Into LVB Birla Corp Q4 Net Declines.

Indiabulls Firms to Merge Into LVB Birla Corp Q4 Net Declines by 2%

Indiabulls Firms to Merge Into LVBIndiabulls Housing Finance and its subsidiary Indiabulls Commercial Credit will be merged into Lakshmi Vilas Bank (LVB) after a change in the merger proposal announced late Friday. The new plan will likely make it easier for the entities to get regulatory approval even though terms of the union remain unaltered.“When we announced the scheme in April, both the options were open to us but after considering all options in the last few days, we have decided that both the Indiabulls companies will be merged

with LVB,” said Gagan Banga, managing director at Indiabulls Housing Finance. “All other things will remain the same and LVB shareholders will hold 9.5% in the combined entity.”Under the earlier scheme of amalgamation announced on April 5, LVB was supposed to be merged with Indiabulls Housing Finance, subject to regulatory approval. In a notice to stock exchanges on Friday, the Indiabulls units were described as transferor companies while LVB was described as a transferee company. By contrast, on April 5, LVB was described as the transferor company.The new deal envisages the merger of both Indiabulls companies into LVB on an ongoing basis

without being wound up. Indiabulls Housing shareholders will hold 90.5% of the post –merger enhanced equity capital of the merged entity and shareholders of LVB will hold approximately

9.5%, as in the previous deal.The merger is, however, still subject to regulatory approval.Analysts said the change in structure makes it easier for the deal to go through. “With LVB now being the acquiring entity, questions on the Indiabulls promoters passing the fit and proper criteria do not arise,” said Prakash Agarwal, head - financial institutions at India Ratings & Research. “The only question now is whether RBI will allow any individual group to hold more than 5% in the combined entity.” Indiabulls is an NBFC with substantial exposure to the realty and regulatory approval for this

transaction could open the doors for other NBFCs to acquire distressed banks — and deposit licences.

Birla Corp Q4 Net Declines by 2%

MUMBAI Cement and jute maker Birla Corporation reported a 2% decline in net profit for the quarter ending March, 2019 at ₹128.2 crore even as net sales went up by 13% at ₹1,873 crore, reports Our Bureau. Operating profit for the quarter stood at ₹334 crore, registering a jump of 15% riding on higher sales and better realisation. “A significant achievement of the quarter has been the turnaround in the performance of the Chanderia cement unit, despite low prices prevailing in the north markets by a series of cost reduction measures and marketing initiatives,”

the company said.

Thursday, May 2, 2019

ABB hits 52 week high Should you invest or not?

ABB India Ltd. was incorporated in the year 24-12-1949. Its today's share price is 1473.4. Its current market capitalisation stands at Rs 31233.18 Cr. In the latest quarter, company has reported Gross Sales of Rs. 108618.9 Cr and Total Income of Rs.109591.1 Cr. The company's management includes B Gururaj, Jean Christophe Deslarzes, Tarak Mehta, Renu Sud Karnad, Darius E Udwadia, Nasser Munjee, Sanjeev Sharma. It is listed on the BSE with a BSE Code of 500002 , NSE with an NSE Symbol of ABB and ISIN of INE117A01022. It's Registered office is at 21st Floor, World Trade Center,Brigade Gateway, No.26/1,Dr. Rajkumar Road, Malleshwaram - WestBengaluru-560055, Karnataka. Their Registrars are ACC Ltd. It's auditors are B Thiagarajan & Co, Bharat S Raut & Co, BSR & Co LLP, SR Batliboi & Associates LLP, SR Batliboi & Co, SR Batliboi & Co LLP

Apr-22-2019

Write Up On ABB Technology Advantage

-Write up on ABB technology advantage: Global development for localization and deployment

Apr-18-2019

Board Meeting Intimation for Considering Q1 2019 Unaudited Results

-ABB India Limitedhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 07/05/2019 ,inter alia, to consider and approve Q1 2019 unaudited results

Mar-27-2019

ABB India, Niti Aayog organise workshop on Artificial Intelligence for MSMEs

ABB India and Niti Aayog have organised a workshop to discuss regulatory and financial concerns relating to adoption of Artificial Intelligence and automation technology by micro, small and medium enterprises (MSMEs). The workshop deliberated upon exploring innovative business and economic models to accelerate technology adoption by MSMEs, while optimizing costs.

ABB India is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally.

Mar-05-2019

Demerger

-Inter alia, has approved a scheme of arrangement amongst the Company, ABB Power Products and Systems India Limited (a newly incorporated wholly owned subsidiary of the Company) and their respective Shareholders and Creditors, providing for the demerger of the Companys power grids business to ABB Power Products and Systems India Limited ("Demerger"). The Board of Directors of ABB Power Products and Systems India Limited subsequently (on the same day) also approved the demerger of the Scheme of Arrangement. The Demerger will be undertaken by a NCL T -approved scheme of arrangement under Section 230-232 of the Companies Act, 2013 ("Act") and other applicable provisions of the Act and rules f-amed thereunder, Section 2 (19AA) and other applicable provisions of the Income-tax Act, 1961 and circular no. CFDIDIL3/CIRl2017/21 dated March 10, 2017, read with circular nos. (CFD/DIL3/CIRl2017/26 dated March 23, 2017, CFD/DIL3/CIRl2017/105 dated September 21, 2017 and CFDI DIL3/CIRl2018/2 dated January 03, 2018) issued by the Securities Exchange Board of India ("SEBI Scheme Circular"). The Demerger is subject to necessary approvals including from the Shareholders and Creditors of the Company and the NCLT.

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