Cox and Kings IPO Review

Cox and Kings (India) one of the leading holiday brands that is known for its - One Stop Shop for all travel services, is coming out with an IPO of 18,496,640 equity shares of Rs 10 each for cash at a price band of Rs 316-330/share.

Details of the issue:
Issue date: Open from November 18, 2009 to November 20, 2009.
Issue size : Rs 610 crores.
CARE has assigned a IPO GRADE 4 and it indicates above average fundamentals.
Listing at BSE and NSE.

The objective of the issue is for repayment of loans,acquisitions and upgrading existing operations. Its business can be broadly categorized into Corporate Travel, Leisure Travel,Forex and Visa Processing. It provides end to end travel solutions including land, air and cruise bookings,local sightseeing,hotel bookings,visa, passport and medical insurance assistance.

The standalone EPS for the year 2009 is Rs.14 and at lower end of the price band, it would trade at an P/E of 22 and at higher end, it is 26. The issue looks reasonable but the only concern being, recent IPOs have not gone well with the market due to overpricing of many issues. Long term investors can consider investing in this issue.

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Buzzing Stock Thinksoft

Thinksoft Global Services recently came out with an IPO of 36,46,000 equity shares at a price of Rs.125, which had to revise the price band and extend the subscription period due to poor response from investors. While the markets were tanking, the stock listed at 30% premium, before closing at Rs.165 on the first trading session.

The stock had witnessed 220 bulk deals (including 140 on NSE and 80 on BSE).The total traded quantity was about 2 crore shares while the issue size is 36 lakh shares. The stock has surged more than 70 per cent in the three days since listing. This is yet another case of operator driven mid-cap rise.

Some updates:
The company is a player with its total income at Rs. 95.66 crores with PAT at Rs. 14.50 crores resulting in an EPS of Rs. 16. Many quality mid cap IT stocks are available in a P/E band of 6 to 8 times, while this will be a small cap company which would rule at much lower PE. At CMP, the stock is trading at a P/E of 13 times.

There have been many such stocks like Resurgere Mines,GSS America, Selmcl, Ackruti city etc , driven up by such operators, which are now substantially below the traded price during the listing time.

Though there may be some more fireworks left,it would languish after that.

Buyer Beware !

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NSE Tame Lite - Technical Analysis Tool

NSE has introduced a fantastic technical analysis tool - NSE Tame Lite.
Some of the features include:
Charts: TAME-LITE provides OHLC, line and candlestick charts.
Intraday Charts: TAME-LITE provides historical as well as intraday data.
Intraday charts are available for 1 minute, 5 minutes, 15 minutes, 30 minutes and 1 hour summaries.
In Cash Market and Future segments, intraday charts are available for all the stocks listed and available for trading in these segments.

Index Charts:
Historical charts are available for S&P CNX NIFTY, CNX NIFTY JUNIOR, CNX IT, BANK NIFTY, CNX 100, S&P CNX DEFTY, S&P CNX 500, CNX MIDCAP and NIFTY MIDCAP 50.

Intraday charts are available for S&P CNX NIFTY, CNX NIFTY JUNIOR, CNX IT, BANK NIFTY, CNX 100 and NIFTY MIDCAP 50.

This is a fine tool but lacks indicators and other chart options available with the usual online trading software.

Just give it a try NSE Lite
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BSE and NSE Trading hours extended

Indian stock markets are set to wake up early. Market regulator Securities and Exchange Board of India (SEBI) has allowed both the BSE and NSE to extend the trade timing from the current 10-3.30 p.m to between 9 a.m and 5 p.m.

The move will extend nearly 2-1/2 hours of trading, if both the exchanges agree to extend the trade timing as per Sebi permission. This move is expected to give traders a better chance to react to global and corporate developments. Also the immediate impact will be an increase in volume which is now between Rs 80-85,000 crore.

Why this trading hour extension being sought by SEBI?

Average trading in developed market is around 7-8 hours whereas Indian markets' trading time is currently only 5.5 hours. Markets will have more time to react to international markets and domestic news flows.

Also the volumes in Singapore Exchange will shift back to Indian markets. Since the listing in Singapore, SGX Nifty is dictating the opening moves in Indian stock markets, which would be considerably reduced.
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BSE Plus Advanced Stock Research

BSE introduces BSE Plus - An advanced stock research section. The BSE Plus includes a wide range of features about a company's Equity, Filing Info, Peer group and Charting. The company's daily stock price movement, weekly, yearly history and market depth are also available in a single page.

Some other features include Recent results, Shareholding pattern, Company announcements and Bulk deals.The charting section includes a wide range of charts with many useful features like price movement with moving averages, performance charts, Index comparison and shareholding patterns.

Just give it a try - BSE Plus Read more...

Reliance Bonus Shares 1:1

Reliance Industries has declared 1:1 bonus shares, which came as a surprise, since the audited results only were expected today. Reliance declared its audited FY09 results, including Reliance Petroleum's (RPL) numbers, which was merged recently.

The net sales were at Rs 1.51 lakh crore versus Rs 1.37 lakh crore, whereas the net profit was at Rs 15,296 crore versus Rs 19,523 crore, which is much below the previous year. Meanwhile, the last bonus was issued in 1997, in the ratio of 1:1.

This move by Reliance would prop up the market in short term, while the markets are seeing some volatile moves either way.
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