30 August 2014

Sharp rate cuts by RBI possible from 2015: rediff/ Business Standard

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Sharp rate cuts are in store in 2015, as the Reserve Bank of India’s commitment to bring down inflation might make room for these, even if the US Federal Reserve starts raising interest rates, experts believe.

RBI is committed to bringing down retail inflation to eight per cent by January 2015 and six per cent by January 2016.

Though CPI-based inflation rose to 7.96 per cent in July from 7.46 per cent in June, it is seen stabilising in the months ahead.

“Lower inflation would enhance the efficiency of India's economy.

"A credible disinflation process would help lower long-term bond yields in anticipation of lower inflation risks and, ultimately, a meaningful sustainable reduction in policy rates,” said UBS Securities India in a note to clients titled '200 bps lower interest rates in less than 2 years', released on Thursday.

The note added that monetary policy would lag inflation and RBI will keep policy rates on hold till late FY15.

RBI had previously raised the repo rate in January, by 25 bps to eight per cent. 



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Grey Market Premium, Kostak for Sharda Cropchem IPO strategy; INVEST!!

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Sharda Cropchem

Price band:  145-156
Grey Market Premium (GMP) Rs 40-42

To maximize profit, Go for minimum size application of 90 shares  (1 lot) for Rs 14,040/-

Kostak Rs 650-700 for minimum application (1 lot)

Expected to be oversubscribe at least 30x


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Sharda Cropchem IPO opens on Sept 5, HEP Mauritius to exit:: moneycontrol

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Mumbai-based crop protection chemical company Sharda Cropchem is set to open its initial public offer of 2.3 crore equity shares on September 5, 2014. It is the second IPO after the Narendra Modi-led government came to power at the Centre in May. The company aims to raise around Rs 327-352 crore at a price band of Rs 145-156 a share through the issue, which will close for subscription on September 9. The purpose of the public issue is to carry out sale of 2,25,55,124 equity shares by selling shareholders (HEP Mauritius, Ramprakash V Bubna and Sharda R Bubna) and achieve the benefits of listing equity shares on exchanges - BSE and NSE. Bubna family - promoter and promoter group - will reduce their stake in the company from 84.13 percent currently to 75 percent and non-institutional investor HEP Mauritius will offload its entire stake of 15.87 percent. Sharda Cropchem is a crop protection chemical company engaged in the marketing and distribution of a wide range of formulations and generic active ingredients globally. It is also involved in order based procurement and supply of belts, general chemicals, dyes and dye intermediates. Net profit of the company in FY14 grew by 26.8 percent year-on-year to Rs 106.9 crore compared to previous financial year supported by other income and lower depreciation. Revenue rose by 0.54 percent to Rs 781.9 crore during the same period. Edelweiss Financial Services Limited and IDFC Capital Limited are book running lead managers to the issue while Karvy Computershare Private Limited is the registrar.



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