Tube Investments invests in CG Power

 

Details on the Investment: 

Murugappa Group’s engineering firm Tube Investments picked up a controlling stake in CG Power & Industrial Solutions for Rs 700 crore.

CG Power has approved a proposal to issue shares and warrants on a preferential basis.

On 2nd September 2020, Tube Investments upped their investment by Rs 100 crs in the form 68.73 million equity shares of CG Power to be issued to TII at Rs 14.55 per equity share on a preferential basis. This will increase its stake to 58.58% 

Key Financial Data:

52 W H/L: 25/4.6

Market Cap: Rs 1558 crs

FV CMP Equity Capital Networth Total Debt Total Income PAT EPS BV
FY 20 2 25 125 -104 1661 5158 -2167 -34 -2
FY 19 125 2185 2729 8049 -507 -8 35

 

CG Power is engaged in engineering solutions and the power sector and has 13 manufacturing facilities.

The main reasons for losses in CG ower other than the loss from the Power Segment (Rs 222.3 crs)  are due to Exceptional Items (Rs 1788 crs) mainly A provision for a doubtful advancement for Rs 905 crs.  A (provision) of net assets of subsidiaries for Rs 468 crs and a  Liability on deconsolidation of HBE Group of Rs 341 crs. 

Brief History on the Fraud at CG Power: 

In August 2019, CG Power had reported a financial scam found in an investigation by an independent law firm where some employees had carried out unauthorised transactions, which led to an understatement of the liabilities of CG Power and advances to related and unrelated parties of the company and the group. The company said that total liabilities may have been potentially understated by Rs 1,053.54 crore for CG Power and Rs 1,608.17 crore for the whole group.

 As a result, the chairman of the group Mr Gautam Thapar was fired. 

Historical Price Chart: 

Daily Notifications as on 4th September 2020

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200904-34

1. Scrip code : 526817
Name : Cheviot Co.Ltd.
Subject : Corporate Action-Intimation of Buy back
Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, notice is hereby given that the Board of directors of the Company shall meet through audio-visual means on Tuesday, 8th September, 2020 at 11:30 A.M. to inter-alia consider the proposal for buy-back of ordinary shares of the Company and matters incidental thereto.

2. Scrip code : 532980
Name : Gokul Refoils and Solvent Limited
Subject : Corporate Action-Intimation of Buy back
Intimation of Letter of Offer

3. Scrip code : 541154
Name : Hindustan Aeronautics Limited
Subject : Announcement under Regulation 30 (LODR)-Offer for Sale
Offer of equity shares to the Eligible Employees of Hindustan Aeronautics Limited (“Company”) as per Department of Investment and Public Assets Management, Ministry of Finance, Government of India approval letter dated 31st August, 2020 – Employee Offer for Sale (“Employee OFS”)

Daily Notifications as on 3rd September 2020

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200903-44

1. Scrip code : 540936
Name : Gautam Gems Limited
Subject : Clarification On Bonus Ratio Of The Company
It is hereby clarify that the Bonus will be issued in proportion of 5(Five) new Fully Paid up Equity Shares of Rs. 10/-(Rupees Ten Only) each for every 6(Six) existing Equity Shares of Rs. 10/-(Rupees Ten Only) each held as on record date and same has been approved by Board of Director and by the shareholders in their respective meetings.

Daily Notifications as on 2nd September 2020

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200902-28

1. Scrip code : 519491
Name : Ocean Agro (India) Limited
Subject : Delisting- Updates- Exit Letter Of Offer
Please find enclosed copy of the Exit Letter of Offer and Exit Application Form by the Promoter (Acquirer) to the Residual Public Shareholders in terms of the Delisting of Equity Shares of Ocean Agro (India) Limited (Scrip Code: 519491) vide BSE Notice No. 20200820-5 dated August 20, 2020.

 

 

Daily Notifications as on 1st September 2020

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200901-40

1. Scrip code : 524348
Name : Aarti Drugs Limited
Subject : Corporate Action-Board recommends Bonus Issue
We wish to inform you that Board of Directors at its Meeting held on Thursday, August 20, 2020 has approved the following subject to approval of the Shareholders (through Postal Ballot and e-voting): a) Increase in authorized share capital of the Company from Rs. 25,00,00,000/- (Rupees Twenty Five Crore) to Rs. 120,00,00,000/- (Rupees One hundred and Twenty Crores) by creation of additional 9,50,00,000 (Nine Crores Fifty Lakhs) Equity Shares of Rs. 10/- (Rupees Ten only) each and consequent amendment to clause V of the Memorandum of Association of the Company. b) the issuance of fully paid up Bonus Share in the ratio of 3:1 i.e. 3 (Three) Bonus Equity Share of Rs. 10/- each for 1 (One) fully paid up Equity Share of Rs. 10/- each. The Company will intimate the ‘Record Date’ for determining eligible Shareholders entitled to receive Bonus Shares in due course.

2. Scrip code : 500207
Name : Indo Rama Synthetics (India) Ltd.,
Subject : Withdrawal Of Disclosure Given Under Regulation 10(5) Of The SEBI (Substantial Acquisition Of Shares And Takeover) Regulations, 2011
This is to inform that the Company had earlier received an intimation in relation to the proposed acquisition of 5,35,64,057 equity shares held by Brookgrange Investments Limited in Indo Rama Synthetics (India) Limited by another Promoter Mr. Aloke Lohia, and a disclosure under Regulation 10(5) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011 was filed vide a letter dated 11 August 2020. Further, we wish to inform that the Company has now received a letter dated 31st August 2020 from Mr. Aloke Lohia (the ‘Acquirer’) intimating the withdrawal of the above-stated proposed acquisition and the disclosure given under Regulation 10(5) of the SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011, vide a letter dated 11 August 2020.

Daily Notifications as on 31st August 2020

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200831-41

1. Scrip code : 539354
Name : POLYSPIN EXPORTS LIMITED
Subject : Intimation Of Record Date For Sub-Division Of Equity Shares Of The Company And For Allotment Of Bonus Equity Shares Under Regulation 42 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015.
Board of Directors in their meeting held on 25th June, 2020 and subject to the approval of the members in the Annual General Meeting held on 12th August 2020, has fixed September 8, 2020 as the Record Date for the purpose of sub-division of one Equity Share of the face value of Rs.10/- each (Rupees ten only) fully paid-up into 2 (Two) Equity Shares of Rs. 5/- each (Rupees five only) fully paid-up and also for the purpose of determining eligibility of the shareholders for Allotment of Bonus Equity Shares in the proportion of 1 : 4 i.e., 1 (One) fully paid-up equity share for every 4 (Four) existing fully paid-up equity shares held by the members.

2. Scrip code : 506107
Name : Precious Trading & Invt. Ltd.,
Subject : Tribunal Convened Meeting – Voting Results
In continuation of our letter dated July 27, 2020, we wish to inform you that at the Tribunal Convened meeting of the equity shareholders of the Company held on August 29, 2020, to consider and approve Scheme of Merger between Precious Trading and Investments Limited (“the Transferor Company”) and Sheth Developers Private Limited (“Transferee Company”) and their respective shareholders, the equity shareholders of the Company have duly approved the Scheme with requisite majority of voting by way of poll at the meeting and through e-voting and postal ballot. Details of the Voting result are enclosed in the prescribed format.

Diagnostic and Healthcare Companies Peer Group

Diagnostic and Healthcare Companies Peer Group

IPO Details
Name IPO Year Issue Price IPO Size
FY20 Rs Crs
Dr Lal Pathlabs 2015 540-550 638
Metropolis Health 2019 877-880 1204
Thyrocare Tech 2016 420-446 479
Financials 
Name Face value 52 W H/L CMP Market Cap Equity Capital Networth Debt Sales PAT EPS P/E Book Value P/ BV Promoter’s Holding
FY20 Rs Rs Rs Crs Crs Crs Crs Crs Crs Rs Rs %
Dr Lal Pathlabs 10 2029.85/1154 1852 15462 83 1054 _ 1385 228 27.47 67.4 127 14.6 57
Metropolis Health 2 2110/993.2 1820 9224 10 525 26 865 128 25.6 71.1 105 17.3 51
Thyrocare Tech 10 845.25/410 755 3987 53 367 3 441 88 16.60 45.5 69 10.9 66
ROE (%)
Year Dr Lal Pathlabs Metroplois Thyrocare
2020 22 24 24
2019 21 30 20
2018 22 26 21
Share Prices (2016 – 2020)
Dr. Lal Pathlabs Ltd Metropolis Ltd Thyrocare Tech Ltd
Year High Low High Low High Low
2016 1278.55 696.50 719.85 523.6
2017 1134.50 717.65 779.9 611.1
2018 1120.00 800.00 725 519.85
2019 1698.00 900.30 1480.05 904.85 604.55 406.65
2020 2029.85 1181.80 2110.00 993.20 845.25 410

Daily Notifications as on 28th August 2020

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200828-39

1. Scrip code : 513252
Name : Jay Ushin Ltd.
Subject : Updates on Open Offer
Ambit Capital Pvt Ltd (“Manager to Open Offer”) has submitted to BSE a copy of Post Offer Advertisement under Regulation 18(12) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended (“SEBI (SAST) Regulations”) for the attention of the Public Shareholders of Jay Ushin Ltd (“Target Company”).

2. Scrip code : 531225
Name : XTGLOBAL INFOTECH LIMITED
Subject : Board Meeting Intimation for Approval Of Notice Of AGM, Directors Report, Dates Of Book Closure, E-Voting, Approval Of Employees Stock Benefit Scheme And Related Matters Thereto
Xtglobal Infotech Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 05/09/2020 ,inter alia, to consider and approve -To Approve Director’s Report for the Financial Year 2019-20 -To take note of Annual Report of the Company for the Financial Year 2019-20 -Approval of XTGlobal Infotech Limited Employees Stock Benefit Scheme – 2020 & other related matters -To authorise Mr. Ramarao A Mullapudi, Managing Director of the Company to explore opportunities for Acquisition of Businesses to accelerate growth of the Company. -To fix charges for Services of Document under Section 20 of the Companies Act, 2013 -To take note of filing of scheme of Amalgamation with the Stock Exchange (BSE Limited) for their intimation/ observations / No objection. -To take note of BSE Notice received for Non-compliance with provisions of Corporate Governance Report for June 2020

3. Scrip code : 532944
Name : OnMobile Global Ltd.
Subject : Announcement under Regulation 30 (LODR)-Daily Buy Back of equity shares
Dear Sir/ Madam, Sub: Buy-back Offer of Equity Shares of OnMobile Global Limited (the “Buy-back”) in accordance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 (the ‘Buyback Regulations’) With reference to the captioned subject, we hereby submit the daily report pursuant to Regulation 18 (i) of the Buy-back Regulations regarding the shares bought-back by OnMobile Global Limited on August 27, 2020

Daily Notifications as on 27th August 2020

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200827-41

1. Scrip code : 506943
Name : J.B. Chemicals & Pharmaceuticals Lt
Subject : Announcement under Regulation 30 (LODR)-Open Offer – Updates
Submission of recommendation of Committee of Independent Directors (‘IDC’) under Regulation 26(7) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011, as amended.

2. Scrip code : 533213
Name : Frontline Securities Ltd.
Subject : Updates On Delisting_ Exit Letter Of Offer
The Acquirers had issued the exit letter of offer dated August 25, 2020 to the Residual Public Shareholders of Frontline Securities Limited, who did not or were not able to participate in the Reverse Book Building Process or who unsuccessfully tendered their Equity Shares in the Reverse Book Building Process and are currently holding Equity Shares, in accordance with Regulation 21 of the SEBI Delisting Regulations (‘Exit Offer’). The Exit Offer will remain open for a period of one year starting from the Date of Delisting i.e. from August 28, 2020 to August 27, 2021 (both days inclusive). Please find enclosed the copy of the said Exit Letter of Offer for your reference and records.

3. Scrip code : 532527
Name : ramkrishna forgings Ltd.
Subject : Announcement under Regulation 30 (LODR)-Daily Buy Back of equity shares
With respect to Buyback announced by the Company, vide Public Announcement dated 23.03.2020; please find the details of buyback of Equity Shares made today i.e., 27.08.2020

Daily Notifications as on 27th August 2020

https://www.bseindia.com/markets/MarketInfo/DispNewNoticesCirculars.aspx?page=20200827-41

1. Scrip code : 506943
Name : J.B. Chemicals & Pharmaceuticals Lt
Subject : Announcement under Regulation 30 (LODR)-Open Offer – Updates
Submission of recommendation of Committee of Independent Directors (‘IDC’) under Regulation 26(7) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011, as amended.

2. Scrip code : 533213
Name : Frontline Securities Ltd.
Subject : Updates On Delisting_ Exit Letter Of Offer
The Acquirers had issued the exit letter of offer dated August 25, 2020 to the Residual Public Shareholders of Frontline Securities Limited, who did not or were not able to participate in the Reverse Book Building Process or who unsuccessfully tendered their Equity Shares in the Reverse Book Building Process and are currently holding Equity Shares, in accordance with Regulation 21 of the SEBI Delisting Regulations (‘Exit Offer’). The Exit Offer will remain open for a period of one year starting from the Date of Delisting i.e. from August 28, 2020 to August 27, 2021 (both days inclusive). Please find enclosed the copy of the said Exit Letter of Offer for your reference and records.

3. Scrip code : 532527
Name : ramkrishna forgings Ltd.
Subject : Announcement under Regulation 30 (LODR)-Daily Buy Back of equity shares
With respect to Buyback announced by the Company, vide Public Announcement dated 23.03.2020; please find the details of buyback of Equity Shares made today i.e., 27.08.2020