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Showing posts with label STOCK EXCHANGE. Show all posts
Showing posts with label STOCK EXCHANGE. Show all posts

Thursday, February 16, 2012

MCX (Multi Commodity Exchange) : IPO SUBSCRIBE !!!

Price Band: Rs. 860 - Rs. 1032, Face Value: Rs.10.
Minimum Lot Size: 6 Shares.
Issue opens on: 22nd February 2012, Wednesday.
Issue closes on: 24th February 2012, Friday.
Listing on: 9th March 2012.
Total No. of Shares offered: 64,27,378 shares or 12.60 %
Employee Reservation: 2,50,000 shares.
Net Public Offer: 61,77,378 shares.
QIB Book: 3,088,689 shares.
Non – Institutional Bidders: 9,26,607 shares.
Retail Book: 21,62,082 shares.
Equity Shares outstanding prior Issue: 5,09,98,369 shares.
Equity Shares outstanding post Issue: 5,09,98,369 shares.
Total Size of the Issue: Rs. 552.75 Crs - Rs. 663.30 Crs.
IPO GRADING: 5/5 - CRISIL – Strong Fundamentals.
FAIR VALUE RANGE - Rs. 1200 - Rs. 1400.

KEY FINANCIALS (Consolidated) 31 Mar 2010 31 Mar 2011 31 Dec 2011
Total Income (Rs. in Cr) 493.70 447.56 474.50
Net Profit (Rs. in Cr) 220.80 176.27 217.95
Net Profit margin (%) 35.70 39.40 47.00
EPS (Rs.) 43.29 34.56 42.74
Net Asset Value (Rs.) 136.63 166.45 210.58
Return on Equity (%) 21.40 22.80 32.20
Return on Capital Employed (%) 31.30 31.80 45.10


MULTI COMMODITY EXCHANGE OF INDIA LIMITED : MCX Stock Exchange Limited was originally incorporated as a private limited company on April 19, 2002 as Multi Commodity Exchange of India Private Limited and subsequently converted into public limited company on May 16, 2002 in 2008 and is based in Mumbai, India. MCX Stock Exchange Limited provides a trading platform in currency derivatives in India. The company offers trading in currency futures contracts in four currencies consisting of the U.S. Dollar-Indian Rupee (USDINR), Euro-Indian Rupee (EURINR), Pound Sterling-Indian Rupee (GBPINR), and Japanese Yen-Indian Rupee (JPYINR). The company, through its subsidiary, MCX-SX Clearing Corporation Limited, offers clearing and settlement services in multi asset classes.  MCX enjoys the leadership position in the commodity futures industry, the market shares in terms of total value of commodities futures contracts traded on MCX in Fiscal 2011 was 82.4 % of the Indian commodity futures industry. There are over 30 commodity futures and options exchanges worldwide that trade commodities ranging from energy, metals, agriculture to livestock in many countries including the United States, China, Japan, Malaysia and the United Kingdom. In 2011, MCX stood at 5th place among the global commodity bourses in terms of futures contracts traded, during the period between January and June 2011 about 127.8 million futures contract were traded on MCX. MCX ranks no.1 in silver, no.2 in natural gas, no.3 in crude oil and gold futures trading. The company reaches out to about 800 cities and towns in India with the help of about 1,26,000 trading terminals. MCX COMDEX was the first and only composite commodity futures price index. MCX has main competitor is National Commodity & Derivative Exchange Ltd (NCDEX) – Mumbai; National Multi Commodity Exchange Ltd  (NMCEX)- Ahmedabad; Indian Commodity Exchange Ltd (ICEX) – Gurgaon; Ace Derivates and Commodity Exchange (ACE) – Ahmedabad.

MCX holds 5 % in Dubai Gold and Commodity Exchange and the book value of this investment was Rs. 2.185 Cr as of December 31, 2011; 100 % in MCX Clearing Corporation Ltd; 5 % in MCX SX; 26 % in MCX-SX Clearing Corporation Ltd; 51 % in SME Exchange of India Ltd with initial investment of Rs. 5,10,000

MCX derives its income primarily from transaction fees with respect to the trades executed on MCX Exchange, annual subscription fees, member admission fees, terminal charges, proceeds of sale and dividends from investments and interest from bank deposits. Commodities play an important role in India‘s economy. India has over 7,000 regulated agricultural markets, or mandis, and the majority of the nation‘s agricultural production is consumed domestically, according to the Agricultural Marketing Information Network. India is the world‘s leading producer of several agricultural commodities. The agriculture sector accounted for approximately 14.2 % of India‘s gross domestic product (GDP) at a constant price (2004-05) for the fiscal 2011. India‘s GDP at current market prices for the fiscal 2011 was estimated to be Rs. 78,779.47 billion (Source: Economic Survey 2010-11). There are currently 21 commodity exchanges recognised by FMC in India offering trading in over 60 commodity futures with the approval of FMC. In the fiscals 2009, 2010 and 2011, the total value of commodities traded on commodity futures exchanges in India was Rs. 52,489.57 billion, Rs. 77,647.54 billion and Rs. 119,489.42 billion, respectively. The total value of commodities traded on commodity futures exchanges in India for the first nine months ended December 31, 2011 was Rs. 137,228.55 billion.  

Out of the Offer of a total of 64,27,378 Equity Shares, 26,43,916 Equity Shares are being offered by FTIL, 21,12,025 Equity Shares are being offered by SBI (Equity), 7,81,508 Equity Shares are being offered by GLG, 3,90,754 Equity Shares are being offered by Alexandra, 2,46,175 Equity Shares are being offered by Corporation Bank, 1,48,000 Equity Shares are being offered by ICICI Lombard and 1,05,000 Equity Shares are being offered by Bank of Baroda. The Equity Shares being offered by the Selling Shareholders under the Offer have been held by such Selling Shareholders for a period of more than one year prior to filing of the Draft Red Herring Prospectus with SEBI.

Comparisons with Industry as on 31st March 2011

Exchange Currency Share Price Shares O/S (mn) Market Cap (mnUS$) EPS Estimate FY13 P/E FY13e EV/Sales FY13e EV/EBITDA FY13e
CME US$ 291 67 19295 17.90 16.20 0.90 8.50
ICE US$ 133 73 9644 8.00 16.50 2.30 8.80
MCX INR 1032 51 1053* NA NA NA NA
*1US$=Rs.50

According to me one should definitely look for subscribing Multi Commodity Exchange India Ltd IPO as it will be the first listed exchange on Indian bourses taking the country at par with other markets like US, UK, Japan, Australia, Singapore & Hong Kong. Globally , Exchanges trends to trade at average of 5 times their book value and 18 - 20 times their earnings. Long term investors should look into subscribing the IPO for good opportunity. Short term investor can subscribe for listing gains.

Wednesday, July 15, 2009

BSE : Declared dividend of Rs 4 a share (or 400%).

A higher income from investments helped the Bombay Stock Exchange (BSE) post a rise in net profit, even though the Asia’s oldest bourse recorded a flat growth in revenue due to lower transaction charges and a drop in income from penalties, fees and other charges in the year ended March 31, 2009.

The BSE board has declared a dividend of Rs 4 a share (or 400%) on the post-bonus equity of Rs 10.2 crore, resulting in a dividend outgo of Rs 42 crore. The dividend will go to a string of local and foreign shareholders, with the top 20 receiving 48% of the payout.

Deutsche Boerse, Singapore Exchange, SBI, LIC, Dubai Financial Group, Atticus Mauritius, Acacia Banyan Partners, Caldwell Asset Management and Bajaj Holdings are among the top BSE shareholders. The exchange posted a total income of Rs 421 crore against Rs 420 crore in the previous year.

Brokers attributed the flat growth to a sharp fall in cash and derivatives turnover which affected the exchange’s income from securities trading.

Despite a fall in turnover-linked income, the BSE saw its net profit rise 18% to Rs 212 crore, thanks to a rise in income from investment and deposits — from Rs 175 crore in 2007-08 to Rs 222 crore last fiscal.

Last year’s stock market turmoil caused a significant fall in trading volumes on bourses, with the BSE recording a 30% decline in turnover to Rs 11 lakh crore in 2008-09 compared with Rs 15.8 lakh crore in 2007-08.

The BSE recorded a 30% drop in transaction charges to Rs 77 crore, while income from other charges amounted to Rs 40 crore compared with Rs 48 crore in the previous year. A higher net profit has boosted BSE’s net worth from Rs 1,559 crore to Rs 1,728 crore.
-- an article by ET dt:14th July 2009

(Also read a post on BSE dated: Nov 13 2008 & Nov 20 2008)

Thursday, November 20, 2008

BSE to allot 5% more to global stock exchanges

In my last post I gave the information about declaration of dividend and bonus shares by BSE to its members.
Last year BSE alloted 5% to Duesch Bourses and to Singapore stock exchange at the rate of Rs.5200 per share, according to the current law, stock exchanges can allot not more than 5 % each to any strategic investor. But now the SEBI has raised this limit to 15 % from 5 %.
BSE will now allot more 10 % to Singapore stock exchange and Duesch bourses and also to Hong Kong stock exchange.SEBI is also considering to have self listing for stock exchanges,
If this comes through than these stock exchanges will can now get listed without an IPO

Thursday, November 13, 2008

DIVIDEND OF 3,000 % & BONUS SHARES OF 12 FOR EVERY 1sh HELD.....

Have you every heard of this kind that any company issueing bonus to its shareholders in the ratio of 12 shares for every 1 share held in company and that also in such a bad financial market...YES its true.
The Bombay Stock Exchange (BSE) has declared bonus to its sharebroking members in the ratio of 12 shares for every 1 share held of the face value Re.1.00.
This decision was taken in an annual meeting of BSE on 8/11/2008, Also the BSE mulls to list it on exchanges and for that purpose it needs to raise its sharecapital.
According to the present virtue of SEBI law  any company intending to get itself listed on BSE must have minimum sharecapital of Rs.3 cr and for NSE min. share capital required is Rs.10 cr.
At present the share capital of BSE stands at Rs.78,00,000, and post bonus will stand at Rs.10 cr.
The reserves of BSE on the year ended 31 march 2008 was at Rs.1500 cr.
Also BSE had given the dividend of 3,000 % to its members for the year 2007-2008
51 % of the shareholding is held with sharebroker members, BSE has also alloted shares to an international stock exchanges like Singapore stock exchange and Duesch Bourses at an rate of Rs.5,200 per share.
SBI, LIC, BAJAJ AUTO, DUBAI FINANCIAL, ATIX MAURITIUS are some of the stakeholders of BSE.
Looking to the present scenario of the markets it doesnot seems to float its IPO atleast for this year.
But for now it seems that the broker members of the BSE is on full joy as they get dividend of 3,000 % and the bonus share on their investments.
Challo atleast some one is happy
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