MS Advisory and PMS: IPO Recommendations: Subscribe - Coal India; subscription details

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Subscribe in Coal India IPO


* Excellent subscription by QIB - over 24 times
* Will be part of Nifty and Sensex - All the ETF and index funds will have to buy
* 5% discount to retail
* Biggest India IPO
* Grey market discount around Rs 30

COAL INDIA LIMITED (QIB complete; retaila nd HNI can apply tomorrow as well)

Sr.No.	Category	No.of shares offered/reserved	No. of shares bid for	No. of times of total meant for the category
1	Qualified Institutional Buyers (QIBs)	284236398	7019464125	24.70
1(a)	Foreign Institutional Investors (FIIs)		4933872050
1(b)	Domestic Financial Institutions(Banks/ Financial Institutions(FIs)/ Insurance Companies)		1807527975
1(c)	Mutual Funds		266896250
1(d)	Others		11167850
2	Non Institutional Investors	85270919	246492275	2.89
2(a)	Corporates		114974625
2(b)	Individuals (Other than RIIs)		124998175
2(c)	Others		6519475
3	Retail Individual Investors (RIIs)	198965479	218069125	1.10
3(a)	Cut Off		177296100
3(b)	Price Bids		40773025
4	Employee Reservation	63163644	2390850	0.04
4(a)	Cut Off		2259425
4(b)	Price Bids		131425

Updated as on 20 October 2010 at 2000 hrs

Anand Rathi: Dishman Pharma Turnaround in business; initiate with Buy

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Dishman Pharma
Turnaround in business; initiate with Buy
We initiate coverage on Dishman Pharma with Buy and target price
of `258. We are positive on the stock given turnaround in Solvay
contract and operations at Carbogen Amcis (CA), addition of new
contracts and commissioning of new high potency (HIPO) facility.
 Set to witness turnaround. Dishman is set to witness turnaround
after a dismal performance in the past five quarters on the back of : i)
revival in Solvay contract for Eposartan Mesylate (supplies at normal
level of 120mtpa at present), ii) signing of an additional contract for
fenofibrate, iii) restructuring at CA subsidiary and iv) improving
outlook for outsourcing business.
 Expansion in niche and high-end segment. With its HIPO
facility, Dishman would be substantially expanding presence in the
niche and high-end oncology API space. We expect the company to
generate US$4m & US$20m in FY11e & FY12e respectively from the
facility on the back of expected commercialisation in Q4FY11.
 Expect robust H2FY11 and FY12. We believe Dishman is wellpositioned
to deliver a strong performance with 16.7% top-line and
25.9% net profit CAGRs over FY10-13e. D/E would reduce to 0.6x
in FY13e from current 1x and RoCE would improve to 11.9% in
FY13e from 9% in FY10.
 Valuation and risks. Our target price is based on 10x FY12e
CRAMS EBITDA and 4x FY12e Marketable Molecules EBITDA.
The stock trades at 11.2x FY11e and 9x FY12e earnings and looks
attractive, given turnaround story and past 3-year average forward PE
of 14x. Risk: High dependence on Solvay (~15% of sales).

FII & DII trading activity on NSE and BSE as on 20-Oct-2010

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FII trading activity on NSE and BSE on Capital Market Segment

The following is combined FII trading data across NSE and BSE collated on the basis of trades executed by FIIs on 20-Oct-2010.

FII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value FII 20-Oct-2010 2428.13 2411.78 16.35

 

Domestic Institutional Investors trading activity on NSE and BSE on Capital Market Segment

The following is combined Domestic Institutional Investors trading data across NSE and BSE collated on the basis of trades executed by Banks, DFIs, Insurance, MFs and New Pension System on 20-Oct-2010.

DII trading activity on NSE and BSE in Capital Market Segment(In Rs. Crores) Category Date Buy Value Sell Value Net Value DII 20-Oct-2010 1124.16 1151.66 -27.5

 

Forthcoming Results - October 21, 2010

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ACC

AKZOINDIA

Allahabad Bank

Alstom Projects

Ambuja Cements

Arunoday Mills

Asahi Songwon

Austin Engr

Bajaj Corp

Camlin Fine

Chromatic India

Corporation Bank

Dairyfield

DIC India

Eclerx Serv

Esab India

Flex Foods

Foseco India

Fresenius Kabi

Gopal Iron

GS Auto

Hind Syntex

Indiabulls Fin

Indowind Ener

Info Edge India

JM Financial

JRG Securities

KAR Mobiles

Mahindra Forg

Monotype India

Multibase India

Novartis India

Oil Country Tub

Pennar Inds

Peoples Invest

Persistent Sys

PH Capital

Prime Sec

Rajratan Global

Sasken Comm

Silver Smith

SKF India

South Indian Bank

Sterlite Tech

Subuthi Finance

Sun Pharma Adv

Supreme Petro

TCS

Technocraft

TVS Motor

Wipro

XPRO India

Zenith Fibres

Zensar Tech

FII DERIVATIVES STATISTICS FOR 20-Oct-2010

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FII DERIVATIVES STATISTICS FOR 20-Oct-2010 
 BUYSELLOPEN INTEREST AT THE END OF THE DAY 
 No. of contractsAmt in CroresNo. of contractsAmt in CroresNo. of contractsAmt in Crores 
INDEX FUTURES593101792.11716622164.3653962016200.06-372.25
INDEX OPTIONS2110076287.841800595412.45210624662999.43875.39
STOCK FUTURES837702717.73915552979.16149462644570.70-261.43
STOCK OPTIONS11314380.3411791397.02419861342.72-16.68
      TOTAL225.03

20/10/2010: Grey Market Premium for Indian IPOs; Coal India, Gyscoal, Prestige and BS Transcomm

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Company Name	Offer Price	Premium
	(Rs.)	(Rs.)
B S Trans	248 (Lower band)	DISCOUNT
Prestige Estates	183 (Upper Band)	DISCOUNT
Gyscoal Alloys	71 (Upper Band)	12 to 14
Coal India	225 to 245	24 to 26 +  5% discount for retail