DSIJ Mindshare

Breaking News

Zomato Acquires Data Firm Maplepos

Zomato is aggressively expanding India-based online restaurant discovery platform and is a subsidiary of Info Edge India. In the process of expansion it has acquired Maplepos, a cloud-based Point of Sale product for restaurants. As an immediate result of the acquisition, the product has been renamed to ZomatoBase.With this acquisition, Zomato moves a step forward in providing business-focused solutions for restaurants, which in turn, will help the company off er highly differentiated services to the end consumer. This quite rightly, also points towards the possibility of the launch of a delivery service, wherein Zomato would possibly equip its partner restaurants and cafes with ZomatoBase.

MUDRA Bank To Fund The Unfunded

“A common perception in the country is that large industries create more employment but details reveal that in reality only 1 crore 25 lakh people find employment in large industries, whereas small enterprises employ 12 crore people in the country. There are various small businesses which have the potential to grow manifold but need a little help. Today there are a number of facilities provided for large industries in India but there is a need to focus on these 5.75 crore self-employed people, who use funds of Rs 11 lakh crore, with an average per unit debt of merely Rs 17,000 to employ 12 crore Indians. This vision leads to the creation of MUDRA Bank.”

These are the words of Prime Minister Narendra Modi while launching the Micro Units Development Refinance Agency (MUDRA) Bank, with a refinance corpus of Rs 20,000 crore and credit guarantee corpus of Rs 3,000 crore in New Delhi. An announcement to create MUDRA Bank to support small entrepreneurs was made by the finance minister in his FY16 Union Budget speech.

[PAGE BREAK]

MUDRA Bank was to ‘fund the unfunded’. Under PMMY, micro entrepreneurs will be sanctioned loans ranging from Rs 50,000 to Rs 10 lakhs. MUDRA Bank would be responsible for developing and refinancing all micro finance institutions (MFIs) which are in the business of lending to micro and small business entities engaged in manufacturing, trading and service activities through PMMY. MUDRA Bank would also partner with state and regional level coordinators to provide finance to last mile financiers of small and micro business enterprises. Further, the approach goes beyond ‘credit only’ approach and offers a ‘credit–plus’ solution for these enterprises spread across the country.

KNR Constructions Bags Rs 729-Cr Road Up gradation Orders

KNR Constructions has bagged orders worth Rs 729 crore from a Tamil Nadu government undertaking for upgradation of roads.The first order is for developing “Kanchipuram-Vandavasi road and Sdras-Chengalpattu-Kancheepuram-Arakonam-Thiruthani road” which is to be completed within a period of 36 months from the appointed date, it said. The second project is for upgrading “Arcot Villupuram Road” which is to be completed within a period of 42 months from the appointed date. The third order is for “upgrading Malliyakarai-Rasipuram-Th iruchengode-Erode Road,”

[PAGE BREAK]

Gateway Distriparks Aims To List Rail Unit

In order to maintain a majority stake after the IPO, the firm is in talks with PE firm Blackstone to buy back a 5-7 per cent stake in unit Gateway Rail Freight. Gateway Distriparks wants to maintain its stake in Gateway Rail Freight at 51 per cent or more. Logistics firm Gateway Distriparks is aiming to list its rail unit, valued by analysts at nearly USD 500 million.

PFC Achieves Targets Of Fy15 For Sanctions And Disbursements

A Memorandum of Understanding (MOU) signed by PFC with the government for FY15 includes a sanction target of Rs 55,000 crore and a disbursement target of Rs 44,000 crore in the ‘Excellent’ category. Against these targets, PFC achieved sanctions of approximately Rs 60,000 crore and disbursements of approximately Rs 44,300 crore. PFC’s loan assets as on March 31, 2015 were approximately Rs 2,18,000 crore, which represented growth of approximately 15 per cent over the previous year. For the year ended March 31, 2015, PFC paid an interim dividend equivalent to 85 per cent on the face value of the equity shares.

[PAGE BREAK]

REC OFS To Get The Government Rs 1,550 Crore

At last there is some respite for the government on the disinvestment front as the first OFS of FY16 starts with a bang, grossing a whopping Rs 1,550 crore for the government exchequer. Up to 5 per cent stake of Rural Electrification Corporation offered for sale witnessed great enthusiasm from every category of investors and the OFS was oversubscribed 5.53 times as bids of 27.32 crore were received for 4.93 crore shares on offer. The highlight of the issue was the overwhelming response from the retail investors with 20 per cent reserved portion receiving 902 per cent oversubscription amounting to Rs 2,887 crore, while the FII portion oversubscribed by just 21.71 per cent.

Riding high on the fabulous response by retail and institutional investors (oversubscribed by 466 per cent), the total subscription rose to Rs 7,621 crore. Up to 5 per cent discount was also offered to retail investors on the price bid and with this disinvestment the government’s stake in REC has come down to 60.64 per cent. The retailers’ enthusiasm for REC clearly indicates that investors wanted to take benefit of the price rise as had happened in the case of Coal India. Importantly, the indicative price for retail was Rs 325.10 and for institutions Rs 324.73, both above the previous day’s closing price of Rs 321.65 and floor price of Rs 315, clearly showing the robustness of the stock.

DSIJ MINDSHARE

Mkt Commentary28-Mar, 2024

Penny Stocks28-Mar, 2024

Penny Stocks28-Mar, 2024

Penny Stocks28-Mar, 2024

Penny Stocks28-Mar, 2024

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR