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Mumbai, The <keyword id="19922074" type="General" weightage="20" keywordseo="reserve-bank" source="keywords">Reserve Bank</keyword> on Tuesday barred <keyword id="20838865" type="General" weightage="20" keywordseo="jm-financial-products-ltd" source="keywords">JM Financial Products Ltd</keyword> from providing any form of financing against shares and debentures, including sanction and disbursal of loans against <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword>, with immediate effect. The company can, however, continue to service its existing loan accounts through the usual collection and recovery process, the Reserve Bank said in a statement. <keyword id="20838864" type="General" weightage="20" keywordseo="jm-financial-products" source="keywords">JM Financial Products</keyword> has been directed to cease and desist, with immediate effect, from doing any form of financing against shares and debentures, including sanction and disbursal of loans against Initial Public Offering (IPO) of shares as well as against subscription to debentures. RBI said the action is necessitated due to certain serious deficiencies observed with respect to loans sanctioned by the company for IPO financing as well as NCD subscriptions. The RBI carried out a limited review of the books of the company on the basis of the information shared by the <keyword id="19901204" type="General" weightage="20" keywordseo="securities-and-exchange-board-of-india" source="keywords">Securities and Exchange Board of India</keyword> (SEBI). The business restrictions imposed will be reviewed upon the completion of a special audit to be instituted by the RBI and after rectification of the deficiencies to the satisfaction of RBI.

RBI bars JM Financial Products from financing against shares, debentures

Mumbai, Feb 12 () Mid-sized non-banking lender JM Financial will hit the debt market with a Rs 100 crore NCD issue on Thursday. This is the third tranche of its planned fully-secured NCD (non-convertible debentures) sale this fiscal year and the issue has a greenshoe option of an additional Rs 200 crore, taking the overall issue to Rs 300 crore, the company said in a statement on Wednesday. The issue will be sold by JM Financial Products, a subsidiary of JM Financial, and will give the investors an annual yield of up to 10 per cent. The company has so far this fiscal year raised over Rs 500 crore through NCD sales. The issue comes with a tenor of 24 months to 120 months and offers interest payment on a monthly and annual basis, offering a coupon of 9.29 to 10 per cent. JM Financial Managing Director Vishal Kampani said the latest debt sale will help the company further diversify the borrowing and investor mix. The company's debt/equity ratio stands at 2.4 times. The issue, rated by both Crisil and Icra, will be listed on the BSE, and is managed by AK Capital Services, JM Financial and Trust Investment Advisors. JM Financial Product had a loan book of Rs 4,137.2 crore as of December quarter. Shares of JM Financial were trading 0.8 per cent lower at Rs 114.15 on the BSE. BEN RVK

JM Financial to raise Rs 300 cr in debt

Mumbai, Apr 7 () JM Financial Group has committed Rs 30 crore towards Covdi-19 relief measures under which it will give Rs 15 crore to the PM's relief fund and an equal amount will be contributed to work towards support for healthcare assistance to counter the pandemic."As the pandemic has emerged as a global challenge, we as socially responsible citizens and corporates must come together and contribute to combat the crisis. Together, with a collaborative vision and approach, we'll be able to overcome this unprecedented crisis," said group chairman Nimesh Kampani. *********Thyrocare slashes Covid testing prices *Leading lab chain Thyrocare has slashed its Covid test prices, offering a starting price of Rs 1,800 for hospitals to Rs 3,500 for individuals for home collections, and Rs 2,500 for group collections, effective Tuesday. A valid prescription from a doctor will be needed to book a test. Currently, the services at this cost are available within 300 km radius of its Mumbai lab. Soon it plans to start the collections nationally based on lockdown restrictions. Earlier the doorstep collection cost was Rs 4,500.The lab chain has also started mobile ambulance collection service at Rs 2,500.*****************Stempeutics Research, a group company of Manipal Education &amp; Medical Group, has partnered with a global consortium of cell therapy companies to seek European Commission funding to fight against the Corona pandemic.Under this partnership, Stempeutics will export its stem cell product Stempeucel for treating critically ill Covid patients with lung disease. First the product will be clinically tested and upon successful outcomes, it intends to export it on a regular basis. ********Anil Rawal is CEO of IntelliSmart* IntelliSmart Infrastructure, a joint venture of the government-run Energy Efficiency Services (EESL) and National Investment and Infrastructure Fund (NIIF) has appointed Anil Rawal as its chief executive. BEN MRMR

JM Financial commits Rs 30 cr to fight Covid

<ul class="summary-list"><li>Some <keyword id="14000671" type="UNKNOWN" weightage="60" keywordseo="jif" source="Orion">Jif</keyword> <keyword id="13517603" type="UNKNOWN" weightage="60" keywordseo="peanut-butter" source="Orion">peanut butter</keyword> products have been recalled after a suspected <keyword id="12366211" type="UNKNOWN" weightage="60" keywordseo="salmonella-outbreak" source="Orion">Salmonella outbreak</keyword>.</li><li>The outbreak at Jif's Kentucky factory has affected 12 states and hospitalized two people.</li></ul>Jif is recalling some peanut butter products following suspected <keyword id="11948975" type="UNKNOWN" weightage="60" keywordseo="salmonella" source="Orion">Salmonella</keyword> contamination that has hospitalized two people.A <a href="https://www.fda.gov/safety/recalls-market-withdrawals-safety-alerts/j-m-smucker-co-issues-voluntary-recall-select-jifr-products-sold-us-potential-salmonella">Food and Drug Administration</a> filing showed Jif' owner, J.M. Smucker, initiated a voluntary recall of several products containing the contaminated peanut butter manufactured at its Lexington, Kentucky facility. Twelve states including New York, Georgia and Texas have reported cases of Salmonella linked to the peanut butter, with 14 illnesses and 2 people being hospitalized. The <a href="https://www.cdc.gov/salmonella/senftenberg-05-22/index.html">Center for Disease Control</a> (CDC) said many types and sizes were recalled, including creamy, crunchy, natural, and reduced fat, and that four of five sick people reported eating different types of Jif brand peanut butter before becoming ill.The FDA said the recalled products have the lot code numbers between 1274425 and 2140425, only if the first seven digits end with 425, indicating they were manufactured at the factory. Any containing this code should be thrown out, the FDA said."Healthy persons infected with Salmonella often experience fever, diarrhea (which may be bloody), nausea, vomiting and abdominal pain," the FDA said. "In rare circumstances, infection with Salmonella can result in the organism getting into the bloodstream and producing more severe illnesses," it added. After throwing out the peanut butter product, the CDC recommends people wash and sanitize containers and surfaces that may have come in contact with the affected peanut butter. In an emailed statement to Insider, J.M. Smucker said the incident was isolated to their Lexington facility, and didn't affect other manufacturing facilities. It also said there is no impact to Smucker's Uncrustables, Santa Cruz Organic or any other J.M. Smucker Co. Brand."We are confident after our review of our records that we have identified the root cause and implemented comprehensive corrective actions to address the issue," the company said.It added: "In partnership with FDA and CFIA, we initiated a voluntary recall spanning the duration of the incident that we consider responsible for the issue and several additional months beyond this timeframe out of an abundance of caution."<a href="https://www.jmsmucker.com/news-stories?news=23102">The company said </a> it was not yet able to estimate the financial impact of the recall.

Jif peanut butter recalled over suspected Salmonella outbreak that has hospitalized two people

<ul><li>Essential fuels like petrol and diesel are already too expensive.</li><li>The <keyword id="1881337" type="PERSON" weightage="20" keywordseo="rise-in-food-prices">rise in food prices</keyword> is relatively low compared to last year but still rising fast.</li><li>From <keyword id="6357252" type="DOMAIN" weightage="20" keywordseo="Hero-MotoCorp">Hero Motocorp</keyword> to <keyword id="6912" type="LOCATION" weightage="20" keywordseo="maruti">Maruti</keyword>, from Havells to Blue Star, from <keyword id="186975" type="DOMAIN" weightage="20" keywordseo="TTK-Prestige">TTK Prestige</keyword> to Finolex, companies are looking to hike prices to meet rising costs.</li><li>Meanwhile, falling savings and rising household debt, coupled with an uncertain future due to the second wave of COVID-19 infections, is likely to put severe pressure on people’s finances and their confidence.</li></ul>The year 2020 was bad but 2021 has hardly been a relief for Indian families. The second wave of COVID-19 cases has filled WhatsApp chats (and other social media) with fearful exchanges about the possibility of yet another lockdown. The possible dent in consumer confidence, which improved in January, may take a further knock from rising cost of everyday essentials. What makes this threat to people’s livelihood even worse are the rising prices of daily essentials and the depleted savings. To top up the miserable feeling, the salaried class in the private sector is going to see a fall in take home pay due to <a href="https://www.businessinsider.in/personal-finance/news/your-take-home-salaries-could-shrink-sharply-in-april-with-indias-new-definition-of-wages/articleshow/81631662.cms#:~:text=India's%20new%20labour%20codes%2C%20which,like%20gratuity%20and%20leave%20encashment.">the new definition of wages that kicks in</a> from April 1. Food and fuel are already taking a big chunk out of people’s earnings Essential fuels like petrol and diesel are already too expensive. At 8.76%, food inflation was already high in February 2020. So compared to that a 4.25% rise in food prices in February this year may seem slower but it is still significant. <div type="image" title="B3FC84F1-0AB9-4D7E-BB9E-EB94502CE6E9_edited" msid="81667538" hostid="261" caption="&amp;lt;p&amp;gt;Attendant shows price of fuel at a petrol pump in Nagpur&amp;lt;/p&amp;gt;"></div> While the Reserve Bank of India (RBI) expects prices to be stable hereon, any supply disruption due to measures taken to curb the spike in COVID-19 cases will only make it worse. Raw materials such as palm oil, copra and edible oils have risen sharply. Since price hikes have been quite limited over the past two years, Dabur has room to raise prices this year, the management told analysts recently. The company sells everyday items like toothpaste and fruit juices to branded honey and mosquito repellents. Soap makers have already hiked prices by 5–6%, and another round of a 3% hike is likely, an Edelweiss report dated March 19 said. Crude oil prices are up 26% compared to a year earlier, which makes nylon more expensive. That, in turn, will increase prices of cotton that is a competing commodity. Wholesale prices of cotton are already up 24% between October 2020 and February this year. And that could, eventually, reflect in the prices of textiles and apparels. Hooked to WhatsApp, Facebook, Instagram or Youtube? Prepare to shell out more The glory days of India’s famous dirt-cheap mobile data plans are well behind us. The market is shrinking, effectively, into <a href="https://www.businessinsider.in/business/telecom/news/how-the-latest-spectrum-auction-may-affect-your-mobile-phone-bills-and-quality-of-network-service/articleshow/81325496.cms">a duopoly between Airtel and Reliance Jio</a>. While Vodafone Idea is getting relegated to the margin, the Aditya Birla Group company may have to increase tariff to stay in the game, allowing Mukesh Ambani and Sunil Mittal to follow suit. So mobile bills are going to get more expensive. <div type="image" title="man on mobile phone_edited" msid="81667557" hostid="261" caption="&amp;lt;p&amp;gt;The market is shrinking, effectively, into a duopoly between Airtel and Reliance Ji0, which could result in a hike in prices of data&amp;lt;br&amp;gt;&amp;lt;/p&amp;gt;"></div> Cost of metals like steel, aluminium, palladium, platinum and rhodium are up 30% in the last six months, according to JM Financial. These are key inputs for automobiles and the rise in prices reflect in the cost of buying with a lag of a few months. No wonder, India’s largest motorbike maker Hero MotoCorp just announced <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/b4e500a3-9a79-4dc6-b18d-ec23916af252.pdf">a hike of up to ₹2,500 per unit from April 1</a>. Other major players in the two-wheeler space like Bajaj Auto and TVS Motor have already hiked by 2-3% in the last few months, over and above a 20% rise in the last couple of years due to the shift to BS-VI models to reduce pollution. Those who planned to buy cars may have to shell out more too. <a href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-to-increase-price-of-cars-from-april-2021/articleshow/81632209.cms">Maruti Suzuki</a> and <a href="https://www.businessinsider.in/business/auto/news/nissan-india-to-increase-prices-of-all-models-for-nissan-and-datsun-from-april-1/articleshow/81647750.cms">Nissan</a> have already announced that the rising price of raw materials will force these companies to raise prices in April. <div type="image" title="maruti_edited" msid="81667591" hostid="261" caption="&amp;lt;p&amp;gt;Cars at a Maruti dealership in New Delhi&amp;lt;/p&amp;gt;"></div> India’s <a href="https://m.economictimes.com/markets/stocks/news/ttk-prestige-raised-prices-by-4-5-price-so-far-will-take-more-hikes-during-the-week-t-jagannathan/videoshow/79795003.cms">largest consumer appliances maker, TTK Prestige</a>, known for its pressure cookers hiked prices, on average, by 9% across product categories including mixer grinders and gas stoves. The company’s smaller peer Butterfly Gandhimathi has hiked prices by 5% in December but, yet another one, Hawkins hasn’t followed suit yet. The price of copper is near an all-time high nearly twice of what it was five years ago. So, cable makers like Finolex Cables and Polycab have already passed the pressure on to their customers. KEI Industries, which makes cables, is revising prices every 15 days based on the prices of the key raw material copper, Edelweiss said. And, that means the cost of production is significantly higher for electrical appliance makers like Havells and V-Guard Industries. Especially in the case of V-Guard, which is popular for its inverters and voltage stabilisers, over 46% of the cost is copper, according to analysts at Edelweiss. Air cooler major Symphony raised prices in January, long before the summer sun started to sting. Why will air conditioners be left behind? Blue Star, which raised prices by 5-8% in January, will push prices further up by another 3-5% from April, <a href="https://economictimes.indiatimes.com/industry/cons-products/durables/blue-star-to-increase-prices-in-first-week-of-april-md/articleshow/81648037.cms">Managing Director B Thiagarajan told the Economic Times on March 23</a>. A lot of dream homes were stalled by the pandemic and the lockdown. While the construction of these homes has resumed in full gusto, the cement needed to build these is at least 7-8% on average in the last one year. Dealers told analysts at Emkay Global that companies like Ultratech, ACC and Ambuja Cement tried to increase prices again, by ₹10-20 a bag, but it has not been implemented yet. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[]]></cdata></div> There is added pressure on families in terms of healthcare, either in terms of COVID-19 treatments or the cost of vaccination or both. Even for salaried employees in India, who form a small proportion of the total workforce, the <a href="https://www.businesstoday.in/sectors/jobs/india-inc-to-offer-77-average-salary-hike-in-2021-aon/story/432174.html#:~:text=Global%20professional%20services%20firm%20Aon's,6.1%20per%20cent%20in%202020.">average rise in remuneration is likely to be 7.7%</a>. But a big chunk of the rise may not land in their bank accounts ⁠— it will go into provident fund and gratuity contribution, instead⁠ — because the new labour codes would have kicked in from April 1. Of course, if the second wave triggers another economic crisis, many families may not even have the same amount of cushion from their past savings. In the last five years, the average annual household savings in India has grown 64%. However, in the same time, average household debt has increased 133%, according to the latest data from the RBI. None of this would be comforting for households staring at a limited income and an uncertain future. SEE ALSO: <a href="https://www.businessinsider.in/science/environment/news/inequality-is-only-increasing-in-india-the-resulting-lack-of-trust-may-make-climate-change-a-tougher-challenge-to-tackle/articleshow/81666431.cms">Inequality is only increasing in India — the resulting lack of trust may make climate change a tougher challenge to tackle</a> <a href="https://www.businessinsider.in/stock-market/news/anupam-rasayan-ipo-lists-at-520-per-share-on-the-india-stock-exchange/articleshow/81663145.cms">Anupam Rasayan fails to dazzle on its stock market debut – shares down by nearly 8% soon after listing</a> <a href="https://www.businessinsider.in/business/auto/news/elon-musk-announced-now-you-can-buy-tesla-cars-with-bitcoin/articleshow/81667459.cms">You can now buy a Tesla with Bitcoin, tweets Elon Musk</a>

From Maruti to Nissan, from Hero to Havells, from cotton to cement– everyday products are set to get more expensive in India

<ul><li><keyword id="6776373" type="UNKNOWN" weightage="20" keywordseo="Shyam-Metalics-IPO">Shyam Metalics IPO</keyword> is now live and it will be open for subscription till June 16.</li><li>The total IPO size is ₹909 crore. The price band is fixed at ₹303-306, and each lot consists of 45 equity shares.</li><li>Analysts are mostly bullish on the <keyword id="7112477" type="COMPANY" weightage="20" keywordseo="Shyam-Metalics">Shyam Metalics</keyword> IPO, but some suggest caution.</li></ul>Shyam Metalics, a Kolkata-based producer of long steel products, has commenced its ₹909 crore initial public offering (IPO), with the price band fixed at ₹303-306 per share. The Shyam Metalics IPO will be open for subscription till June 16. Each lot consists of 45 shares, so each lot will be worth ₹13,770. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Share of issue reserved </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">50% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Retail Investors </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">35% </td></tr></tbody></table> Out of the IPO size of ₹909 crore, Shyam Metalics’ existing shareholders are offering ₹252 crore worth shares. <div type="Article" hostid="261" msid="83505013" title="Sona Comstar IPO worth ₹5,550 crore opens today – find out if this EV battery player has enough juice for a long ride" mstype="2" mssubtype="0"></div> <cmsannotation type="cmsannotation" annotationid="Objects of the issue" comment="subhead" text="Objects of the issue">Objects of the issue</cmsannotation> The company’s prospectus states that out of the ₹657 crore fresh issue, ₹470 crore will be used toward payment of certain borrowings, which will help reduce its cost of finance. The remaining ₹187 crore are earmarked for general corporate purposes, which includes capital expenditure, working capital requirements, investment in subsidiaries and joint ventures, among other things. <cmsannotation type="cmsannotation" annotationid="Here’s what analysts are saying" comment="subhead" text="Here’s what analysts are saying">Here’s what analysts are saying</cmsannotation> Analysts are mostly bullish and recommend subscribing to the Shyam Metalics IPO, but some suggest that it is overvalued when compared to its peers. According to Choice Broking, the trailing 12-month EV/EBITDA of 8.6 times is higher than the average of 6.4 times of its peers. EV/EBITDA is a ratio used to determine the value of a company. EV refers to enterprise value. EBITDA refers to earnings before interest, tax, depreciation and amortisation. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Brokerage/Analyst </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Reliance Securities </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Geojit Financial Services </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe with caution </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Ventura Securities </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Arun Kejriwal </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Dilip Davda </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Subscribe for long term </td></tr></tbody></table> “Further, a strong balance sheet along with best-in-class leveraging positioning offers an edge to Shyam Metalics. Additionally, operating cash flow yield at 8.4% looks to be impressive and expected to improve further with higher cash flow generation in the ensuing quarters. Hence, we recommend subscribing to this issue,” said Reliance Securities in its report. Hem Securities also recommended subscribe. “We like the financial performance posted by the company with a healthy balance sheet status. Efficiency improvements, improved productivity and cost rationalisation has enabled it to deliver consistent and strong financial and operational performance,” it noted in its IPO note. <cmsannotation type="cmsannotation" annotationid="Understanding the business of Shyam Metalics" comment="subhead" text="Understanding the business of Shyam Metalics">Understanding the business of Shyam Metalics</cmsannotation> Shyam Metalics is a leading producer of integrated steel and ferro alloys, based in east India. The steel maker has three manufacturing plants with an operating capacity of 5.7 million tonnes per annum. Analysts say that it has control over all the aspects of its operations because of forward and backward integration, allowing it to optimise its processes according to its needs. Shyam Metalics counts Jindal Stainless (Hisar), Rimjhim Ispat, POSCO International, Norecom, JM Global Resources, Goenka Steels and others among its clientele. “Shyam Metalics has consistently outperformed its peers in terms of profitability. Majority of the power costs is being met through captive sources, which results in low power costs and thereby improving operating performance vis-à-vis its peers,” said a report by Hem Securities, underlining the company’s financial performance. Here’s a look at its revenue and profit since March 2018: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Period </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue (₹ in crore) </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit (₹ in crore) </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dec-20 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,996 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">456 </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mar-20 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4,395 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">340 </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mar-19 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4,685 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">637 </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mar-18 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,920 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">528 </td></tr></tbody></table>Source: Shyam Metalics prospectus SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sona-comstar-ipo-price-gmp-should-you-subscribe/articleshow/83505013.cms">Sona Comstar IPO worth ₹5,550 crore opens today – find out if this EV battery player has enough juice for the long ride</a> <a href="https://www.businessinsider.in/stock-market/news/adani-group-under-sebi-scanner-on-market-manipulation/articleshow/83501698.cms">Gautam Adani loses over $7 billion in net worth after questions over the meteoric rise in group stocks</a> <a href="https://www.businessinsider.in/stock-market/news/list-of-upcoming-ipo-in-2021-in-india/slidelist/82766975.cms">IPO watch: List of upcoming public issues in 2021 – from Zomato to GoAir, over a dozen companies have filed for a listing</a>

Shyam Metalics IPO worth ₹909 crore is live – find out if you should subscribe to this Kolkata-based producer of long steel products

After <a href="http://www.businessinsider.in/searchresult.cms?query=baba+ramdev&amp;sortorder=effectivedate">Baba Ramdev</a> claimed that his <a href="http://www.businessinsider.in/searchresult.cms?query=patanjali&amp;sortorder=effectivedate">Patanjali Ayurved</a> will drive out Colgate and <a href="http://www.businessinsider.in/searchresult.cms?query=nestle&amp;sortorder=effectivedate">Nestle</a>, especially in the oral care segment, at least <a href="http://www.businessinsider.in/searchresult.cms?query=colgate&amp;sortorder=effectivedate">Colgate</a> has taken this challenge seriously. 
 <keyword id="80626" type="CITY" weightage="40" keywordseo="Colgate-Palmolive">Colgate-Palmolive</keyword> acknowledged this threat and is planning to launch more products in the ‘natural’ category. 
 
READ ALSO: <a href="http://www.businessinsider.in/Weirdest-comment-of-the-day-Ramdev-Baba-says-Patanjali-will-shut-the-gate-in-Colgate-make-Nestles-bird-disappear/articleshow/52027530.cms">Weirdest comment of the day - Ramdev Baba says Patanjali will shut the gate in Colgate, make Nestle's bird disappear</a> 
 
"The natural segment in India has been growing rapidly. And to capitalise on this, we're revitalising our Colgate Active Salt toothpaste bundle. The short-term share impact comes from local competitors with heightened promotional activity," said Global CEO of Colgate-Palmolive Ian Cook. 
 
Cook added the US multinational scanned through innovation and go-to-market plans in the Indian markets and will undertake corrective measures. 
 
Colgate maintained its market share in the <a href="http://www.businessinsider.in/searchresult.cms?query=toothpaste+industry&amp;sortorder=effectivedate">toothpaste category</a>, which is a 6,000 crore segment, at 54%. 
 
Meanwhile, Colgate is likely to come out with Colgate Sensitive clove essence toothpaste and also a line of fruity toothpastes for kids. 
Colgate’s management committee that regularly reviews the onground action plans to deal with competition from Patanjali and other herbal players such as Dabur and Himalaya, Richard Lui of JM Financial said in a recent report. 
 
"Colgate appears quite confident that it will be able to protect and grow its turf, while cognising that this is not any 'normal FMCG competitive battle'," Lui wrote after meeting with Colgate's management. 
 
Ramdev had said that it will close the gates of Colgate. 
 
"Colgate will be below Patanjali by this year, and in three years, we will overtake Unilever," the yoga guru had claimed, adding that Patanjali's Dant Kanti toothpaste did Rs 450 crore of business in 2015-16. 
 
(Images: Indiatimes)

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