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Thursday, February 15, 2018

H.G. Infra Engineering Ltd IPO Details (Concise)
Opens: 26/02/18
Closes: 28/02/18
Price Band: Rs. 263-270
Lot: 55 Share
Min App: Rs. 14850
Size: Fresh - 300 Cr. + OFS - 6 mn Share
Allocation: QIB-50%, HNI-15%, RII-35%

Tuesday, February 6, 2018

Monday, February 5, 2018

Frequently Asked Questions (FAQs) regarding taxation of long-term capital gains proposed in Finance Bill, 2018

Under the existing regime, long term capital gains arising from transfer of long term capital assets, being equity shares of a company or a unit of equity oriented fund or a unit of business trust, is exempt from income-tax under clause (38) of section 10 of the Act.

However, transactions in such long-term capital assets are liable to securities transaction tax (STT). Consequently, this regime is inherently biased against manufacturing and has encouraged diversion of investment to financial assets. It has also led to significant erosion in the tax base resulting in revenue loss. The problem has been further compounded by abusive use of tax arbitrage opportunities created by these exemptions.

2. In order to minimise economic distortions and curb erosion of tax base, it is proposed to withdraw the exemption under clause (38) of section 10 and to introduce a new section 112A in the Income-tax Act, 1961 (‘the Act’) vide clause 31 of the Finance Bill, 2018 so as to provide that long-term capital gains arising from transfer of such long-term capital asset exceeding one lakh rupees will be taxed at a concessional rate of 10 percent.

3. Since the introduction of the Finance Bill, 2018 on 1st February, 2018, several querieshave been raised in different fora on various issues relating to the proposed new tax regime for taxation of long-term capital gains. The responses to these queries are provided below.

Q 1. What is the meaning of long term capital gains under the new tax regime forlong term capital gains?

Ans 1. Long term capital gains mean gains arising from the transfer of long-term capital asset. The Finance Bill, 2018 proposes to provide for a new long-term capital gains tax regime for the following assets–

i. Equity Shares in a company listed on a recognised stock exchange;
ii. Unit of an equity oriented fund; and
iii. Unit of a business trust.

The proposed regime applies to the above assets, if
a. assets are held for a minimum period of twelve months from the date of acquisition; and
b. the Securities Transaction Tax (STT) is paid at the time of transfer. However,
in the case of equity shares acquired after 1.10.2004, STT is required to be
paid even at the time of acquisition (subject to notified exemptions).

Q 2. What are the modes of acquisition of equity shares which are proposed to be
exempted from the condition of payment of STT?
Ans 2. The Central Government had exempted certain modes of acquisition of equity shares for the purposes of clause (38) of section 10 of the Act vide notification no. 43/2017 dated 5th of June, 2017. This notification is proposed to be reiterated for the purposes of clause 31 of the Finance Bill, 2018 after its enactment.

Q 3. What is the point of chargeability of the tax?
Ans 3. The tax will be levied only upon transfer of the long-term capital asset on or after 1st April, 2018, as defined in clause (47) of section 2 of the Act.

Q 4. What is the method for calculation of long-term capital gains?
Ans 4. The long-term capital gains will be computed by deducting the cost of acquisition
from the full value of consideration on transfer of the long-term capital asset.

Q 5. How do we determine the cost of acquisition for assets acquired on or before 31st January, 2018?
Ans 5. The cost of acquisition for the long-term capital asset acquired on or before 31st of January, 2018 will be the actual cost. However, if the actual cost is less than the fair market value of such asset as on 31st of January, 2018, the fair market value will be deemed to be the cost of acquisition.

Further, if the full value of consideration on transfer is less than the fair market
value, then such full value of consideration or the actual cost, whichever is higher, will be deemed to be the cost of acquisition.

Q 6. How will the fair market value be determined?
Ans 6. In case of a listed equity share or unit, the fair market value means the highest price of such share or unit quoted on a recognized stock exchange on 31st of January, 2018.
However, if there is no trading on 31st January, 2018, the fair market value will be the highest price quoted on a date immediately preceding 31st of January, 2018, on which it has been traded

In the case of unlisted unit, the net asset value of such unit on 31st of January,
2018 will be the fair market value.

Q 7. Please provide illustrations for computing long-term capital gains in different scenarios, in the light of answers to questions 5 and 6.
Ans 7. The computation of long-term capital gains in different scenarios is illustrated as under -
Scenario 1 – An equity share is acquired on 1st of January, 2017 at Rs. 100, its fair market value is Rs. 200 on 31st of January, 2018 and it is sold on 1st of April, 2018 at Rs. 250.

As the actual cost of acquisition is less than the fair market value as on 31st of
January, 2018, the fair market value of Rs. 200 will be taken as the cost of acquisition and the long-term capital gain will be Rs. 50 (Rs. 250 – Rs. 200).

Scenario 2 – An equity share is acquired on 1st of January, 2017 at Rs. 100, its fair market value is Rs. 200 on 31st of January, 2018 and it is sold on 1st of April, 2018 at Rs. 150.

In this case, the actual cost of acquisition is less than the fair market value as on
31st of January, 2018. However, the sale value is also less than the fair market
value as on 31st of January, 2018. Accordingly, the sale value of Rs. 150 will be taken as the cost of acquisition and the long-term capital gain will be NIL (Rs. 150 – Rs. 150).

Scenario 3 – An equity share is acquired on 1st of January, 2017 at Rs. 100, its fair market value is Rs. 50 on 31st of January, 2018 and it is sold on 1st of April, 2018 at Rs. 150.

In this case, the fair market value as on 31st of January, 2018 is less than the actual cost of acquisition, and therefore, the actual cost of Rs. 100 will be taken as actual cost of acquisition and the long-term capital gain will be Rs. 50 (Rs. 150 – Rs. 100).

Scenario 4 – An equity share is acquired on 1st of January, 2017 at Rs. 100, its fair market value is Rs. 200 on 31st of January, 2018 and it is sold on 1st of April, 2018 at Rs. 50.

In this case, the actual cost of acquisition is less than the fair market value as on
31st January, 2018. The sale value is less than the fair market value as on 31st of
January, 2018 and also the actual cost of acquisition. Therefore, the actual cost of
Rs. 100 will be taken as the cost of acquisition in this case. Hence, the long-termcapital loss will be Rs. 50 (Rs. 50 – Rs. 100) in this case.

Q8. Whether the cost of acquisition will be inflation indexed?
Ans 8. Sub-clause (5) of clause 31 of the Finance Bill, 2018, inter alia, provides that the long-term capital gain will be computed without giving effect to the provisions of the second provisos of section 48. Accordingly, it is clarified that the benefit of inflation indexation of the cost of acquisition would not be available for computing long-term capital gains under the new tax regime.

Q 9. What is the date of commencement of the proposed new tax regime?
Ans 9. The proposed new tax regime will apply to transfer made on or after 1st April, 2018. The existing regime providing exemption under clause (38) of section 10 of the Act will continue to be available for transfer made on or before 31st March, 2018.

Q 10. What will be the tax treatment of accrued gains upto 31st January 2018?
Ans 10. As the fair market value on 31st January, 2018 will be taken as cost of acquisition (except in some typical situations explained in Ans 7.), the gains accrued upto 31stJanuary, 2018 will continue to be exempt.

Q 11. What will be the tax treatment of transfer of share or unit between 1
st February 2018 to 31st March 2018?
Ans 11. As replied in answer 9, the new tax regime will be applicable to transfer made on or after 1st April, 2018, the transfer made between 1st February, 2018 and 31stMarch, 2018 will be eligible for exemption under clause (38) of section 10 of the Act.

Q 12. What will be the tax treatment of transfer made on or after 1
st April 2018?
Ans 12. The long-term capital gains exceeding Rs. 1 Lakh arising from transfer of these asset made on after 1st April, 2018 will be taxed at 10 per cent.

However, there will be no tax on gains accrued upto 31st January, 2018 as explained in Ans 10.

Q13. What is the date from which the holding period will be counted?
Ans 13. The holding period will be counted from the date of acquisition.

Q 14. Whether tax will be deducted at source in case of gains by resident tax payer?
Ans 14. No. There will be no deduction of tax at source from the payment of long-term capital gains to a resident tax payer.

Q 15. Whether tax will be deducted at source in case of payment of long-term capital gains by non-resident tax payer (other than a Foreign Institutional Investor)?
Ans 15. Ordinarily, under section 195 of the Act, tax is required to be deducted on
payments made to non-residents, at the rates prescribed in Part-II of the First Schedule to the Finance Act. The rate of deduction in the case of capital gains is
also provided therein. In terms of the said provisions, tax at the rate of 10 per cent. will be deducted from payment of long-term capital gains to a non-resident
tax payer (other than a ForeignInstitutional Investor). The capital gains will be required to be computed in accordance with clause 31 of the Finance Bill, 2018.

Q 16. Whether tax will be deducted at source in case of payment of long-term capital gains by Foreign Institutional Investors (FIIs)?
Ans 16. No. There will be no deduction of tax at source from payment of long-term capital
gains to a Foreign Institutional Investor in view of the provisions of sub-section (2)
of section 196D of the Act.

Q17. How will the gains in the case of FIIs be determined?
Ans 17. The long-term capital gains in case of FIIs will be determined in the same manner
as explained in earlier answers in the case of resident tax payers.

Q 18. What will be the treatment of the gains accrued upto 31st January 2018 in the case of FIIs?
Ans 18. In case of FIIs also, there will be no tax on gains accrued upto 31st January, 2018 as explained in Ans 10.

Q 19. What will be the tax treatment of transfer of share or unit between 1st February 2018 to 31st March 2018 in the case of FIIs?
Ans 19. As explained in Ans 11, in case of FIIs also, the transfer made between 1st
February, 2018 and 31st March, 2018 will be eligible for exemption under clause
(38) of section 10 of the Act.

Q 20. What will be the tax treatment of transfer made on or after 1st April 2018 in case of FIIs?
Ans 20. As explained in Ans 12, in case of FIIs also, the long-term capital gains exceeding Rs. 1 Lakh arising from transfer of these asset made on after 1st April, 2018 will be taxed at 10 per cent. However, there will be no tax on gains accrued upto 31stJanuary, 2018 as explained in Ans 10.

Q21. What will be the cost of acquisition in the case of bonus shares acquired before1st February 2018?
Ans 21. The cost of acquisition of bonus shares acquired before 31st January, 2018 will be determined as per sub-clause (6) of clause 31 of the Finance Bill, 2018. Therefore, the fair market value of the bonus shares as on 31st January, 2018 will be taken as cost of acquisition (except in some typical situations explained in Ans 7), and hence, the gains accrued upto 31st January, 2018 will continue to be exempt

Q 22. What will be the cost of acquisition in the case of right share acquired before 1st February 2018?
Ans 22. The cost of acquisition of right share acquired before 31st January, 2018 will be determined as per sub-clause (6) of clause 31 of the Finance Bill, 2018. Therefore, the fair market value of right share as on 31st January, 2018 will be taken as cost of acquisition (except in some typical situations explained in Ans 7), and hence, the gains accrued upto 31st January, 2018 will continue to be exempt.

Q 23. What will be the treatment of long-term capital loss arising from transfer made between 1st February, 2018 and 31st March, 2018?
Ans 23. As the exemption from long-term capital gains under clause (38) of section 10 will be available for transfer made between 1st February, 2018 and 31st March, 2018, the long-term capital loss arising during this period will not be allowed to be set￾off or carried forward.

Q 24. What will be the treatment of long-term capital loss arising from transfer made on or after 1st April, 2018?
Ans 24. Long-term capital loss arising from transfer made on or after 1st April, 2018 will be allowed to be set-off and carried forward in accordance with existing provisions of the Act. Therefore, it can be set-off against any other long-term capital gains and unabsorbed loss can be carried forward to subsequent eight years for set-off against long-term capital gains

Thursday, February 1, 2018




Mr. Jaitley in his budget speech mentioned grandfathering as a concept with reference to computation of Long Term Capital Gain on which he has introduced tax at 10 percent
However there can be lot of confusion with respect to this concept. Let's understand this concept simply

If you bought any share last year (and not completed 1 year) - your revised cost will be yesterday high price and not actual price. So LTCG will be applicable at price what u sell from now on compared with revised cost on 31st Jan


Understanding LTCG Tax under Grandfathering concept with simple example

Suppose you buy Stock A at Rs 100 on 31Jan 2017 or before

High of stock (not closing price) on 31Jan 2018 = Rs 220

You sell Stock A at Rs 240 on 1st Feb 2018 or after

Your Tax Liability = Rs 20/share (10%) if total profit is higher than 1 lakh

Immediate update on direct tax changes from the budget speech -
1. Real estate – double taxation in respect of immovable property. No adjustment where 5% difference is there.
2. MSME – Corporate tax rate 25% to companies having T/o under Rs. 250 crore in FY 2016-17. Revenue foregone Rs. 7000 crore FY 18-19.
3. Salaried tax payers – No changes in structure. Salaried taxpayer – standard deduction of Rs. 40,000/- in lieu of transport and reimbursement of medical expenses.
4. Senior citizens – exemption of interest income from FD / RD increased to Rs. 50,000. No TDS u/s 194A for this. Health insurance deduction from Rs. 30,000 to Rs. 50,000.
5. Rs. 1,00,000/- deduction u/s 80DDB for critical illnesses for senior and very senior citizens
6. Payment exceeding Rs. 10,000 in cash disallowed for Trusts. Non-deduction of TDS would be disallowed @ 30%
7. LTCG tax – Tax LTCG exceeding Rs. 1,00,000/- @ 10% w/o indexation. All gains upto 31.1.18 grand fathered. STCG normal 15%. Tax on distributed income by EOF @ 15%.
8. Increase cess by 1%. Total cess @ 4% health and education cess
9. E assessment – to be expanded

Government launches world's largest health care programme:

Government will contribute 12 per cent of wages of all new members of EPFO across sectors for 3 years:

Propose an outlay of Rs 7140 crore for the textile sector

Have decided to take healthcare protection to a new aspirational level. Launching a flagship National Health Protection Scheme to cover 10 crore poor and vulnerable families, benefiting approx. 50 crore,

National Health Protection Scheme for 10 crore poor families to get a coverage of Rs 5 lakh per family annually. The scheme may be extended to cover more people if successful

Higher allocation to infra capital expenditure in the Budget can be a boost to rural roads construction –

Scheme for revitalizing school infrastructure, with an allocation of 1 lakh crore rupees over four years. Called RISE - Revitalizing Infrastructure in School Education:

By 2022, every block with more than 50% ST population and at least 20,000 tribal people will have 'Ekalavya' school at par with Navodaya Vidyalas

This will be the world's largest government-funded health care programme covering 10 crore poor families, 50 crore beneficiaries - providing them up to Rs5 lakh per family per year for hospitalization

4400 villages along the Ganga river have been declared Open Defecation Free:

In a bid to take healthcare protection to a new aspirational level arunjaitley allocates 1200 cr for better healthcare facilities

Govt to allocate Rs. 600 cr to provide nutritional support to all TB patients at Rs.500/mth during treatment.

Allocate Rs 2,600 Cr Under Ground Water Irrigation Plan In 96 Districts

FM Says Propose To Earmark Rs 56,000 Cr For SCs & Rs 39,000 Cr For STs

Government proposes to allot Rs 3794 crore for MSME sector: Finance Minister

Government allocates Rs 3 lakh crore for lending under the Mudra scheme:

Finance Minister says Allocate Rs 1.38 lk cr in FY19 for govt health & education programmes; Will soon announce measures for SME NPAs

10 cr families will be provided Rs 5 lakh cover per family per year for treatment under National Health Protection scheme.

UNION BUDGET 2018 EXPECTATIONS

Taxation

■ FM could well relook the MAT rate or consider abolishing it altogether
■ Reduce corporate tax rate.
■ Enhance tax deductions, exemptions for individuals
■ Tax benefits for salaried class through standard deduction and revision of allowances
■ May tax long-term capital gains in stock market investments
■ Disallowance of expenses on which GST not paid.

Agriculture

■ Establish fund to guarantee credit to encourage investment in agriculture sector
■ Allocate more funds for crop insurance schemes
■ Increase spending for dams and canals, micro irrigation systems
■ Provide subsidies for building cold storage to avoid wastage of perishable crops
■ Reduce fertilizer subsidies

Banks

■ Allow full tax deduction for provisioning of non-performing assets (NPAs) at banks
■ Raise the threshold for tax deduction on interest paid on bank deposits from current Rs10,000
■ Reduce the tenure of tax-exempted retail term deposits to minimum of 3 years from current 5
■ Carve out tax provisions to streamline proceedings under Insolvency and Bankruptcy Code

Infrastructure

■ Increase investment by 10-15% in roads from Budget 2017
■ Provide support for key road projects, including Bharatmala project, which will connect western and eastern India
■ Increase railways investments by 10% from 2017/18 budget

Technology and IT sector

■ Provide greater incentives for digital transactions
■ Support digital payments infrastructure

Auto sector

■ Announce policy on scrapping commercial vehicles that do not comply with emission norms if operational for over 15 years

Real estate sector

■ Set single-window clearance for all real estate projects, especially housing to avoid execution and project delays
■ Give infrastructure status to real estate to help bring down finance, project costs, make homes more affordable
■ Reduce GST rate for under-construction real estate projects from current 12%
■ Spend more on affordable housing

Energy sector

■ Reduce “cess” duty to 8-10% from 20% for oil and gas exploration and production
■ Reduce or exempt city gas distribution companies from excise duty
■ Provide subsidy aid to downstream companies selling LPG, kerosene below market prices

Metals and mining sector

■ Decrease in basic customs duty on coking coal across grades
■ Decrease in export duty on iron ore above certain grade levels
■ Hike basic customs duty on aluminium scrap to protect domestic industry

Gold

■ Cut import tax on gold to 2-4% from 10% to prevent smuggling.

Finally, an interestingly timed Oxfam survey, suggests that, “the richest 1% of India cornered 73% of wealth generated last year,” has added to the apprehensions of wealthy people. It would be interesting to see whether the FM would want to toy with any thoughts on the introduction of inheritance tax, especially after two of the biggest initiatives of DeMo and GST.

…. over to Mr.Jaitley!

Wednesday, January 31, 2018

QIB: 54.27 times
HNI: 6.96 times
Retail: 5.92 times
Overall: 19.96 times

Sunday, January 28, 2018


Scrip: Eicher Motors Limited
CMP: Rs.26,500
Recommendation: BUY
Horizon: Long Term (1 to 2 years)

Company Background
Eicher Motors Limited (EML) (BSE: 505200, NSE: EICHERMOT Bloomberg: EIM IN Reuters: EICH.NS) is the listed parent of Royal Enfield, the global leader in middleweight motorcycles. The world’s oldest motorcycle brand in continuous production, Royal Enfield has made its distinctive motorcycles since 1901. Focused on bringing back simple, yet engaging and accessible motorcycling, Royal Enfield operates in India, and over 40 countries around the world. With modern development facilities in Leicestershire, UK and Chennai, India, Royal Enfield makes its motorcycles in Tamil Nadu for the world

In addition to motorcycles, Eicher has a joint venture with Sweden’s AB Volvo - Volvo Eicher Commercial Vehicles Limited (VECV) - which is driving modernization in India's commercial vehicle space, and in other developing countries. VECV has a complete range of trucks and buses from 5-49 tonnes, and its integrated manufacturing plant in Pithampur, Madhya Pradesh is the global hub for medium duty five- and eight-litre engines for Volvo Group. Since 2012, Eicher has an equal joint venture with US-based Polaris Industries Inc - Eicher Polaris Private Limited - and introduced the Multix 3-in-1 vehicle

Financials





  • The company has managed 593450 units of Royal Enfield which is quite impressive by any standard
  • At FY18E earnings, the company would be trading at a PE ratio of around 33.5 which is substantially justified given the growth prospects
  • Despite depreciation provision, net profit has been impressive for the company
  • EBIDTA Margins stand close to 32 percent which shows strong relative position
  • Company continues to enjoy strong presence across market with around 24% of market share in FY17 and a similar number expected in the current year

Future prospects
  • Demand for Royal Enfield has historically remained healthy and is expected to continually do so with constant waiting period for its flagship "Classic 350" variant
  • Company is planning to launch 3 new models in Apr'18 which will further garland the demand meter
  • Company has re-iterated production target of approximately 825000 units in current financial year. It is however expected that the production would end up being way above this ballpark figure
  • There are 30 exclusive dealers of Royal Enfield in international markets and the company is constantly expanding its footprint both in India and abroad

Synopsis
Considering the continual strong position of the company and maintenance of its market position, the strong track record and visible growth prospects, it is recommended to buy the stock at current levels with objective of incorporating it as a strong pillar in the portfolio with a long term time horizon of 6 months to 2 years


Disclaimer: The market view and recommendation posted are in no way a guarantee (whether express or implied). It is clarified that Indian IPO Blog or any of authors are in no way responsible for any loss suffered by user. Investors are advised to do their own research before making investments in stocks discussed. The author may have positions or stake in the stock discussed

Friday, January 26, 2018

Galaxy Surfactants Limited is a Mumbai based manufacturer of surfactants and other specialty ingredients for the personal care and home care industries. The ingredients company manufacture are commonly used in consumer-centric personal care and home care products like skin care, oral care, hair care, cosmetics, toiletries and detergent products. Galaxy Surfactants product portfolio includes over 200 product grades, which are marketed to over 1,700 customers in 70 countries

Galaxy Surfactants products are classified in 2 categories:
1. Performance Surfactants: This includes anionic surfactants and non-ionic surfactants.
2. Speciality Care Products: This includes amphoteric surfactants, cationic surfactants, UV filters, preservatives, preservative blends and surfactant blends, speciality ingredients such as mild surfactants, syndet and transparent bathing bars and proteins, fatty alkanolamides and fatty acid esters, and other care products.

Customers include Cavinkare Private Limited, Colgate-Palmolive (India) Limited, Dabur India Limited, Henkel, Himalaya, LOREAL, Procter & Gamble Home Products Private Limited, Reckitt Benckiser and Unilever

Red flag: The company tried to raise money in 2011 but failed as only 30% subscription was garnered

Galaxy Surfactants IPO - Issue information
Date : Jan 29, 2018 – Jan 31, 2018.
Issue Price: Rs 1470 – Rs 1480, minimum lot of 10 shares.
Issue Size:  937.09 Cr
Objects of Issue: The issue is total offer for sale. No money will be received by the company.

Risks in Galaxy Surfactants IPO
  • As of September 30, 2017, they conducted operations through seven manufacturing facilities and one pilot plant.
  • They do not have long-term agreements with suppliers for their raw materials.
  • For the six months ended September 30, 2017 and the Fiscals 2017, 2016 and 2015,  cost of materials consumed was ₹7,976.96 million, ₹15,144.88 million, ₹11,153.65 million and ₹12,532.98 million, or 66.63%, 69.74%, 61.66% and 66.81% of  total revenue, respectively.
  • They currently generate a significant portion of  revenues from limited number of major customers. For the six months ended September 30, 2017 and the Fiscals 2017, 2016 and 2015, the top ten customers contributed ₹6,977.65 million, ₹11,833.64 million, ₹9,642.79 million and ₹11,252.47 million, or 58.51%, 54.75%, 53.51% and 60.05% of  total revenues from operations, respectively

Strengths in Galaxy Surfactants IPO
  • Established Global Supplier to Major FMCG Brands with Demonstrated Track Record.
  • Robust Product Portfolio Addressing Diverse Customer Needs.
  • Proven R&D Capabilities with Dedicated Focus on Innovation.
  • Global Footprint Supporting Local Reach.
  • Professional and Experienced Management Team

Analysis of Financial Statements:

Balance Sheet:
  • Reserves & Surplus have grown ~3x from 2013 to Sept 2017.
  • One notable observation is that the company has maintained its debt at healthy levels in the recent times.
  • ~25% of total assets are tied up in trade receivables for all the past periods. Perhaps this is a indicator of inefficient collection business.
  • Short term borrowings have also gone up in recent times. We will see if the spillover effect of High Trade receivables and short term borrowings are having an effect on the Cash flow of the business
  • The company has a notable debt to equity ratio trajectory:
Profit & Loss:
  • Strong consolidated growth in revenue observed at around 17% CAGR in past 5 years
  • However, cost of materials consumed form ~70% of the total costs. Any fluctuations in the prices of the same will have direct negative effect
  • EPS Trajectory is strong as shown below:

IPO Valuation:
There are no listed peers to compare the PE ratio. The company is having an EPS of Rs.41.27 at FY17. At this earnings, the PE ratio works out to be 35.80x at the upper end of the price band. Based on last 3 years consolidated restated EPS of Rs.33.46, the PE ratio works out to be 44.20x at the upper end of price band


IPO Recommendation Synopsis:
Although the good financials, increasing profitability trend and improvement in key ratios such as Debt to Equity may warrant a subscribe, investors need to exercise caution especially in the light of risks enlisted above. Although long term investors may be tempted to go for it as a sectoral addition to the portfolio, high listing gains may not be feasible for short term investors considering the PE ratio and no comparable peers around


The article is presented in conjunction with guest writer Aditya Kondawar from  stocksandbiceps.com

    Thursday, January 25, 2018

    Amber Enterprises IPO Allotment Status is declared and can be checked from link given below:

    https://corpreg.karvy.com/ipostatus/

    Stay tuned to Indian IPO Blog and Indian IPO Blog Whatsapp groups for latest updates including listing day updates on Amber Enterprises IPO

    Monday, January 22, 2018

    Indian IPO Blog presents "Know your stock" 

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