Month: April 2014

Piramal Enterprises, promoted by Ajay Piramal, today proposed to acquire 9.99% stake in NBFC firm Shriram City Union Finance for about Rs 790 crore.Piramal Enterprises has agreed to acquire 65.8 lakh shares for cash on preferential basis at a price of Rs 1,200 per share of Shriram City Union Finance. This represents 9.99% of the post-diluted equity share capital, Shriram City Union Finance said in filing to the BSE. Shares of Shriram City Union Finance closed at Rs 1,183.05 per unit, up 5.11% on the BSE. It has been decided to hold an extraordinary general meeting of shareholders on May 30 to seek approval for selling 10 per cent stake, the filing said. Shriram City Union Finance is a deposit-accepting non-banking financial company (NBFC) specialising in retail finance.  With assets u...

As per analysts, market volumes have improved with the small and midcaps beginning to see volumes and performance. They were laggards in the calendar year 2013. We have collated a list of 10 midcap stocks which have good operating ROEs and hold potential of an earnings recovery in 12 months.  The companies are reducing debt and sales growth has been positive: Brokerage: JPMorgan 1. Indian Hotels: Peak supply in the domestic market in our view is over and a large part of the company's capex is coming to an end. Any improvement in beaten down ADRs in the domestic market could improve EBITDA significantly given operating leverage. Incremental growth is mostly via management contracts.  2. Cox and Kings: The company has become free cash positive and the UK business is now throwing up ...

On 23-April-2014 , Rakesh jhunJhunwala again picked up 1% stake in Prakash Industries   @ 68.15 / share. he picked up 7.5 lakh shares. Earlier on 4th of April 2014 , he picked up 1.85% stake ( 25 lakh shares ) @ Rs 59  .  Read News Trailing 12-month (TTM) EPS -  Rs 11.13 per share. (December, 2013). The stock’s price-to-earnings (P/E) ratio was 6.17. The latest book value of the company is Rs 155.67 per share. At current value, the price-to-book value of the company was 0.44. The dividend yield of the company was 1.46 percent. See Portfolio Holding of Rakesh JhunJhunwala

Foreign institutional investors (FIIs) have traditionally remained skeptical about mid-caps because of corporate governance concerns and lack of liquidity in the stocks, but they have increased their stakes in the counters in the March 2014 quarter. Brokers said the difference in valuations between large-caps and midcaps had widened significantly in January, resulting to FIIs' interest in them.  The list shows these investors bought shares of companies with strong growth prospects or cheap valuations. Increase in FII Holdings Decrease in FII Holdings Source: ET