Akshaya Tritiya 2018: Offers raining on gold, diamond; all you need to know

It’s raining sales on gold and diamond. Here is a list of portals offering tempting discounts to mark Akshaya Tritiya 2018

Akshaya Tritiya gold offers

Today is Akshaya Tritiya 2018, a day believed to bring good luck and success. It is believed that Akshaya Tritiya is good to initiate new beginnings and brings good fortune and luck. Most people start new businesses, buy land or jewellery, and invest in something on this day. All leading online portals – Flipkart, Amazon, Snapdeal, etc – are enticing consumers with some heavy discounts on gold, platinum and diamond jewellery and giving an opportunity for shopaholics to shop to their heart’s content. Moreover, leading jewellers have lined up attractive offers for buyers.

In order to cash in on Akshaya Tritiya, leading jewellers have lined up attractive offers. Tanishq, for example, is offering up to 25 per cent off on making charges of gold and value of diamond jewellery, while Malabar Gold & Diamonds is offering gold coins and gift cards. PC Jeweller claims to be offering the lowest prices on gold coins this Akshaya Tritiya.

Banks like HDFC are offering up to 5 per cent cashback on jewellery purchase. However, while you are excited to grab your diamonds and gold, the government, has in a tweet advised customers to purchase only BIS-Hallmarked Jewellery, which is available in 14, 18 and 22 carats.

It’s raining sales on gold and diamond. Business Standard lists portals offering tempting discount to mark Akshaya Tritiya 2018:

1. Akshaya Tritiya 2018 offers from Tanishq: Starting today, the Bengaluru-based jewellery brand will offer up to 25% off on making charges of gold and diamond jewellery. Tanishq tweeted,”Celebrate this Akshaya Tritiya with us, and avail of up to 25% off on making charges of gold jewellery and diamond jewellery value!”

The company is also offering a wide range of designs under its Mangalam jewellery collection starting from Rs 10,000. Customers can opt to upgrade their old jewellery by exchanging and getting 100% value on them.

2. Akshaya Tritiya 2018 offers from Malabar Gold and Diamonds: The company has online ‘AKSHAYA TRITIYA’ offers, under which customers can get free gold coin on every purchase of jewellery worth Rs 15,000. If the order value is Rs 30,000, or more, you get two gold coins. The company also is offering 5 per cent value of jewellery purchased as e-gift card against a minimum shopping of Rs 15,000. This e-gift card can be redeemed online at the time of next purchase.

ALSO READ: Invest in choker, statement neckpieces for Akshaya Tritiya

This offer is valid until April 25, 2018 on a single transaction done at http://www.malabargoldanddiamonds.com website only and not at any of retail showroom.

3. Akshaya Tritiya 2018 offers from Orra Jewellers: To celebrate Akshaya Tritiya, the company is offering 0 per cent making charges on gold bars and coins. The offer is valid till April 18. The company is providing a discount of 27 per cent on diamond jewellery. Besides, there is also a 50 per cent off on making charges of golden jewellery also available for customers.

4. Akshaya Tritiya 2018 offers from PC Chandra Jewellers: Anyone purchasing jewellery from here till April 22 will get gold coins. The offer is, however, not valid in Agartala.

5. Akshaya Tritiya 2018 offers from Om Jewellers: The company is offering a discount up to 51per cent on making of charges of jewellery of gold, platinum and uncut diamond. On IGI certified jewellery, the company is asking its customers 0% making charge.

Click here to read → Akshaya Tritiya

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Bandhan Bank makes strong debut; lists at 33% premium against issue price

The stock listed at Rs 499, a 33% premium against its issue price of Rs 375 per share on the National Stock Exchange.

Bandhan Bank

Bandhan Bank has made a strong debut at the bourses on Tuesday. The stocks listed at Rs 499, a 33% premium against its issue price of Rs 375 per share on the National Stock Exchange (NSE). On the BSE, the stock listed at Rs 485, 29% higher against its issue price.
At 10:04 am; Bandhan Bank stock was trading Rs 472 on the BSE and NSE. A combined 35.11 million shares changed hands on the counter on both the exchanges.

Bandhan Bank with a market value of Rs 571.59 billion stands at 53rd position in overall market capitalisation ranking, the BSE data shows. | Today’s Paper

The private sector lender raised Rs 45 billion through initial public offer (IPO), which was oversubscribed by 14.6 times. The qualified institutional buyers (QIBs) category was subscribed 38.67 times, the non-institutional investors category was subscribed 13.89 times and the retail individual investors (RIIs) category received subscription of 1.20 times.

The objective of the fresh issue was also to augment bank’s Tier-I capital base to meet the bank’s future capital requirements. The bank also believed that the listing of equity shares will enhance the bank’s visibility and brand name among existing and potential customers.

The bank has a very healthy business mix – on the asset side 96.5% of total advances qualifying as priority sector lending (PSL) and on the liability side 33.2% of total deposits in the low-cost current account & savings account (CASA).

Considering the healthy financials – NIM of 9.9%, gross and net NPA of 1.67% & 0.8%, respectively and high return ratios of 25.6% RoE and 4.1% RoA, analyst at Centrum Broking believe the bank will be able to attract adequate investor interest.

Further, the bank is expected to benefit largely from financialisation of household investments especially in the rural & underbanked areas, vast branch network and presence in high growth segments of micro lending, retail and SME banking.

Given the high valuations, investors can subscribe to the issue from a long term perspective. It must be noted that since the issue is being offered at expensive valuation, listing gains may be capped, the brokerage firm said in an IPO note.

Being a bank, Bandhan Bank was able to ride the recent MFI crises smoothly unlike NBFC-MFIs. So in the current form, it is a robust and resilient micro loan financier with great growth prospects. The bank would likely be able to sustain RoA and RoE near the 4% and 25% mark respectively. We believe long term investors would find post-money valuation at 4.8 times price to book value (P/BV) reasonably attractive, IIFL Wealth Management said in an IPO note.

9 years after Satyam scam, Price Waterhouse banned from audit for 2 years

Nine years after Satyam scam, Sebi orders Rs 130.9-million disgorgement; audit firm says it is confident of getting order stayed

9 years after Satyam scam, Price Waterhouse banned from audit for 2 years

The Securities and Exchange Board of India (Sebi) late on Wednesday banned Price Waterhouse (PW) from providing audit services to listed companies and market intermediaries for two years in the Satyam fraud case. Two PW partners have been banned for three years. | Today’s Paper

The regulator also imposed a disgorgement of Rs 130.9 million on Price Waterhouse, and two of its chartered accountants — S Gopalakrishnan and Srinivas Talluri. The three entities also have to pay 12 per cent interest on the disgorgement amount since January 7, 2009, in 45 days from the date of the order.

Further, it said that no listed company or intermediary registered with Sebi to be engaged with any audit firm associated with the PW network for issuing any certificate with respect to compliance of statutory obligations which Sebi is competent to administer and enforce, under various laws for a period of two years.

These entities have been charged under Sebi’s prohibition of Fraudulent and Unfair Trade Practices (FUTP) regulation. “I find that the auditors have failed in showing any evidence to the effect that they had done their job with standards of professional duty and care as required. The auditors were well aware of the consequences of their omissions which would make such accumulated and aggregated acts of gross negligence scale up to an act of commission of fraud for the purposes of the Sebi Act and the Sebi (FUTP) regulation,” said G Mahalingam, wholetime member, Sebi, in a 108-page order.

The case dates back to 2009, when chairman of Satyam Computer Services (Satyam) B Ramalinga Raju admitted and confessed to large scale financial manipulations in Satyam’s book of accounts to the tune of Rs 50.4 billion. Soon after this, Sebi initiated investigation and later on issued showcause notices to PW and its associates in February 2009. Further notices were issued to PW in 2012 under FUTP regulations. Sebi, which has been probing PW for nearly a decade, and was asked by the Supreme Court in January 2017 to expedite the matter, held a series of hearings with the auditing major and its officials during May-June this year. The Supreme Court had directed Sebi to complete in six months its enquiry proceedings against PW.

Click here to read → Satyam Scam

HDFC Life IPO opens today: From anchor investment to mkt share, all you should know

The price band of the IPO has been fixed at Rs 275 to Rs 290 per equity share

IPOs

HDFC Standard Life Insurance, one of the top three private life insurers in profitability, will open its Rs 8,700-crore initial public offering (IPO) today and close it on Thursday. This will be the fourth IPO of an HDFC arm.

The HDFC Life IPO is an offer for sale (OFS), consisting of 191,246,050 equity shares by HDFC Life and up to 108,581,768 equity shares by UK-based Standard Life.

Here are key things to know about the company’s IPO:

1) Super demand from anchor investors

We have received superlative response from anchor investors, including a global investor who has never invested in the Indian IPO market or any Indian insurance IPO, informed Chaudhry. The company will share the details of anchor book investment on Monday.

2) Open to acquisition of small, big players

Chaudhry also said the company is open to any kind of acquisition, including of Max Life if the “structural issues” that hampered its earlier deal are resolved.

“If the right kind of business comes along, we will definitely look at it. We are not saying that we will look to gobble up only small players. There could be some large players also which could come to the table,” he said.

3) Business overview

The company’s flexibility and ability to adapt to changes in the Indian life insurance industry has allowed business to grow and profitability to improve. During FY15-17, the total premium saw a CAGR of 14.5%, driven by a CAGR of 12.6%, 43.6% and 7.3% in individual New Business Premium (NBP), group NBP and renewal premiums, respectively. In addition, the company improved its Value of New business (VNB) margins from 18.5% in FY15 to 22% in FY17 by bettering cost efficiencies, increasing persistency ratios and selling a balanced product mix.

4) Dividends

The company paid dividends (including dividend distribution tax) totalling Rs 760 crore between the first in FY14 and FY17. Chaudhry informed the next dividend will be announced in December and the new shareholders of the company will be eligible to receive that.

5) LIC losing market share?

In the presentation, Chaudhry noted that the private sector gained higher market share than LIC, for the first time in FY16, after regulatory changes in FY11. LIC’s market share slipped below 44% during the first half of FY16 according to the Individual Weighted Received Premium (WRP), he said, quoting IRDAI and Life Insurance Council.

6) Key risks

i) Given the fact that each bank can now act as a non-exclusive corporate agent for up to three life insurers, three general insurers and three health insurers. Thus, the company’s bancassurance arrangement with HDFC Bank is no longer exclusive in nature, and the latter has entered into bancassurance arrangements with other life insurers. | READ MORE

GIC Re IPO opens today. Should you invest?

GIC Re is the largest reinsurance company in India in terms of gross premiums accepted in fiscal 2017

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General Insurance Corporation of India Limited (GIC Re’s) initial public offer (IPO) opens today for subscription. The company aims to garner over Rs 11,000 crore. The price band has been fixed at Rs 855 – Rs 912 per share. The IPO would be India’s third biggest ever, after Coal India’s Rs 15,200 crore and Reliance Power’s Rs 11,700 crore issues.

The IPO consists of an offer for sale (OFS) of 10.75 crore shares (12.5% stake pre-issue) worth Rs 9,804 crore at the higher price band and a fresh issue of 1.72 crore shares worth Rs 1,569 crore. The amount raised from the fresh issue will be used for augmenting the capital base to support future business growth and to maintain current solvency levels.

ALSO READ:  MARKETS LIVE: Sensex up 100 pts, Nifty tests 10,050; Q2 earnings in focus

GIC Re is the largest reinsurance company in India in terms of gross premiums accepted in fiscal 2017. The company, according to CRISIL Research, accounted for nearly 60% of the premiums ceded by Indian insurers to reinsurers in FY17.

Should you subscribe to the IPO? This is what leading brokerages and research houses across the country suggest:

PRABHUDAS LILLADHER

GIC Re showed strong net premium growth at 73% YoY mainly led by four‐fold jump in crop insurance premium collections in FY17 due to the implementation of Pradhan Mantri Fasal Bima Yojana (PMFBY) scheme whereas fire insurance continues to grow stable at ~23%. GIC Re does not look to increase third party motor business and health group business which has historically had high losses and has not been a profitable business line. At the upper band of Rs 912, the company trades at 27.4x Mar‐17 EPS which we believe is fairly priced, but given the liquidity in the markets and company’s performance in the recent past, we recommend to Subscribe for long term gains..Read More

Sensex at 30,000: What’s next, when to invest and is there a bubble?

Here is a compilation of what leading experts and market veterans think about recent rally

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After rallying nearly 1.5% since the start of the week, the markets are consolidating in trade on Thursday. Buoyed by liquidity, developments at the global levels and better-than-expected March quarter results of companies, the Nifty50 and the S&P BSE Sensex have scaled new highs.

Will this momentum continue? Here is a quick compilation of what leading experts and market veterans think about the recent rally. They also highlight their concerns.

RAAMDEO AGRAWAL, CO-FOUNDER, MOTILAL OSWAL FINANCIAL SERVICES

It is an iconic closing for the Sensex. However, concerns still remain as to what will happen to the fundamentals as the valuations are getting stretched. The recent movement has been driven by liquidity. The political situation in India has become stable and recent elections show the popularity of BJP in the country. The markets are excited about what Mr Modi will do with so much political capital in his hand and look forward to more reforms going ahead. One can invest at the current levels from three – five year perspective.
S NAREN, ED & CIO, ICICI PRUDENTIAL AMC

We believe that we are in the midst of a good economic cycle. However, markets have gone up much faster than the change in economic cycle. We believe price-to-earnings (PE) for the markets looks expensive but price-to-book value and market-cap to GDP ratio is above average but not significantly higher than average level.

NIRMAL JAIN, CHAIRMAN, IIFL GROUP

I think the markets look good from a medium-to-long term perspective. The government is doing a great job by putting the right policies in place. If one invests for three years, investors will make money. Once the corporate earnings start growing at 15 – 20 per cent, the market levels will reflect that going ahead. (READMORE…)