[www.niftyviews.com:24357] IDFC Limited-30Jun2016 OI at 7.0 Cr Shares-Can IDFC & IDFC Bank Merge?

[Rajiv Handa]

The draft guidelines on on-tap banking licences will help IDFC Bank, the
country's newest bank, to merge with its parent to create a bigger entity.

Rajiv Lall, founder, managing director and chief executive IDFC Bank, told
Business Standard the easing of the rules would make it possible to
integrate IDFC and IDFC Bank. Asked if the new rules could be applied
retrospectively, Lall said they should be to create a level-playing field.

New converting entities that do not have any other group entities do not
need to have a non-operative financial holding company (NOFHC) structure.
Also, individual promoters or the standalone promoting company are not
required to take the NOFHC
route, according
to the guidelines issued by the Reserve Bank of India on Thursday.

IDFC has a NOFHC for the demerged IDFC Bank
and other
subsidiaries, IDFC Mutual Fund, IDFC Alternatives, IDFC Infrastructure Fund
and IDFC Securities. However, if the rules in the draft guidelines apply to
existing banks, this structure can be collapsed, Lall said.

[image: IDFC Bank, parent merger on cards]
Markets were enthused by such a possibility. The IDFC stock was up 11.69
per cent to Rs 46.80 on the BSE
and the IDFC Bank
stock rose 2.25 per cent. IDFC Bank, along with Bandhan Bank, was granted a
licence for universal banking in 2014.

However, analysts said IDFC would have to sell some of its shareholding in
the other subsidiaries before the merger. "The draft guidelines allow the
bank to have a subsidiary or joint venture or associate, but that will mean
some tweaking in shareholdings," said an analyst, requesting anonymity.

IDFC Bank reported a 32 per cent quarter-on-quarter fall in its net profit
to Rs 165 crore for the three months to March on a drop in total income and
increased expenditure. IDFC reported dismal earnings with a consolidated
net profit of Rs 130.45 crore for the March quarter. Standalone, IDFC
reported a net profit of Rs 4.8 crore during the quarter.

The banking regulator, in its effort to keep the banking sector at a
comfortable distance from corporate houses, has limited their presence in
the draft guidelines to not more than 10 per cent. The most likely
candidates to be granted banking licences in future will be non-banking
financial companies (NBFCs).

Just a day after the draft guidelines were announced several NBFCs,
including Muthoot Finance, IFCI and UAE Exchange were mulling applying for
licences. "The initial draft looks promising and we are waiting for the
final guidelines. We will definitely apply under this new scheme," said
George Alexander Muthoot, managing director, Muthoot Finance. IFCI
executives said it would be interested to apply because the cost of funds
for NBFCs  was
high and capital adequacy norms were becoming stringent. Sanjiv Bajaj,
managing director, Bajaj Finserv said as to qualify the lender must look at
the total assets of the group and numbers for the latest financial year
were not available yet, it would evaluate the option in the coming weeks.

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[www.niftyviews.com:24358] Induatrial & Prudential-M16 EPS Rs 368; Div Rs 100, Bonus 2:1

[Rajiv Handa]

Industrial & Prudential Investment Company Ltd has informed BSE that the
Board of Directors of the Company at its meeting held on May 30, 2016,
inter alia, has transacted the following:

1. Dividend

- The Board of Directors have recommended total dividend of Rs.100 per
share (including jubilee dividend of Rs. 45 per share) for the financial
year ended March 31, 2016. The dividend, if approved, by the members at the
100th Annual General Meeting to be held on July 08, 2016 will be paid on or
after July 18, 2016.

2. Issue of Bonus Shares

- The Board of Directors, subject to various approvals, has recommended
issue of Bonus Shares in the ratio of two bonus shares of Rs. 10 each fully
paid for every one equity share of Rs. 10 each fully paid on the record
date to be fixed by the Board of Directors.

- Accordingly if Bonus Issue is approved by the members at the Annual
General Meeting to be held on July 08, 2016, 11,63,560 Bonus Shares will be
issued.

- Consequent to this the capital clause in the Memorandum and Articles of
Association will be amended. The Bonus issue will be completed within 60
days of announcement i.e. by July 29, 2016. The date of credit of Bonus
Shares will be intimated after the proposal is approved by the members.

3. Shifting of Registered Office

- Subject to various approvals the Board of Directors recommend shifting of
Registered Office from State of Maharashtra to State of West Bengal.

- The approval of members for shifting of Registered Office is being sought
by Postal Ballot. The Notice of Postal Ballot is being issued separately in
accordance with the Companies Act, 2013, read with relevant Rules and LODR.

- Consequent to this Registered Office clause of Memorandum of Association
will be amended.

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[www.niftyviews.com:24360] Fwd: TATAMOTORS: Need To Sustain Above 435-455 For Further Rally Despite Better Than Expected Q4FY16 Result Pushed By JLR

[Asis Ghosh]

 Forwarded Message 
Subject: 	TATAMOTORS: Need To Sustain Above 435-455 For Further Rally 
Despite Better Than Expected Q4FY16 Result Pushed By JLR

Date:   Tue, 31 May 2016 09:14:05 +0530
From:   Asis Ghosh 
Reply-To:   asis...@gmail.com



*Trading Idea: TATAMOTORS*
*
* *CMP: 421*
*
* *Either sell around 440-450 OR 475-485;*
*
* *TGT: 405*-385-375-360*-345-328-299-279-260*-240 (1-3/6M)*
*
* *TSL> 460 OR  > 495*


*Note:* Consecutive closing (3 days) above 495 for any reason, TM may 
further rally up to 515-535* and 560-595* & 615*-635 in the near to long 
term (alternative bullish case scenario).


*For TATAMOTORS (Consolidated): *

Q4FY16 EPS of TM reported as 15.33 which beat consensus EPS of 10.60 by 
around 45% (QOQ: 10.41; YOY: 8.43).


Q4FY16 TTM EPS: 32.70 (FY:16/Actual)

Earlier street estimate was at 34.15 (lagged by around 4.25%).

Projected FWD EPS: 37.75-43.45-49.95 (FY:17-19/Estimates)

Last 5 QTRS average EPS : 7.66

Last 5 YLY average EPS: 38.30

Average PE: 15

*As par BG metrics & current market volatility:*

Present median valuation may be around: 440 (FY:16/TTM)

Projected fair valuation might be around: 475-510-545 (FY:17-19/FWD)


TATAMOTORS  EPS BV  P/E Low HighMedian  200-DEMA
10-DEMA
Q4FY16/TTM  32.7215.28  15  434.50  441.28  437.89  384.89  397
FY17/FWD37.75   244.45  15  466.84  474.13  470.49  384.89  397
FY18/FWD43.45   277.55  15  500.85  508.67  504.76  384.89  397
FY19/FWD49.95   314.95  15  537.01  545.39  541.20  384.89  397


*Analytical Charts:*














--
Thanks & Regards,

Asis Ghosh
(asisghosh.blogspot.com)
NCFM-TA CERTIFIED



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with other members with the best of intentions to help fellow members
in investment decisions as equity investment is a risky venture.The administrator of 
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and take no guarantee for the genuineness of the same."ANY member of this forum 
doesnt prepare or publish any research report; or ii. provide research report; or 
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