BSE debuts on NSE: 6 little-known facts about the bourse

Asia's oldest stock exchange has finally listed on NSE, its much younger rival

 

After a long and wobbly road so far, Asia’s oldest stock exchange BSE finally listed on rival National Stock Exchange on Friday. As it adds another chapter in its 142-year-long history, Business Standard lists six little-known facts about BSE that will surprise you:

1) The origin: Under a banyan tree

2) Admission fee: An exorbitant Rs 51

3) BSE: Brokers’ Stock Exchange?

4) When BSE underestimated NSE

5) The term Sensex

6) One-week holiday

 BSE debuts on NSE: 6 little-known facts about the bourse on Business Standard. Asia's oldest stock exchange has finally listed on NSE, its much younger rival. (read more...)

Undervalued stocks

The parade of some of the most interesting first-quarter corporate performances continues. Here is the evidence:

Vivimed Labs:

In the first quarter of the current financial year, the company reported its best Ebitda (earnings before interest, taxes, depreciation and amortisation) in four quarters of nearly Rs 67 crore, rising from Rs 51 crore in the immediately preceding quarter. Even as this should have been good enough, there is a remarkable bonus: Interest outflow has declined sharply from Rs 24.51 crore to Rs 15.21 crore within a space of a single quarter (the lowest in five quarters) - interest cover of four-plus.

Prime Securities:

The Mohinder 'comeback' Amarnath of the stock market. The company encountered dramatic roller-coasters in the last decade. This is what it has translated into: No debt or broking income; only capital market advisory services. Prime is now an advisory pure-play, possibly the only one of its kind in the markets.

Venky's: 

My first suspicion when I saw the company's performance was that there must have been a typo error. Consider the Ebitda sequence in the last five quarters: Rs 53 crore, Rs 28 crore, Rs 28 crore, Rs 55 crore and Rs 91 crore. In the last quarter, the company generated a profit larger than the combination of the two preceding quarters. What I love is the sequential interest outflow: Rs 20 crore, Rs 21.5 crore, Rs 22 crore, Rs 21 crore and Rs 21 crore (other income has been averaging Rs 8-10 crore per quarter incidentally).

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Apple launches feature packed iPhone 7 to help reverse dwindling sales

Apple on Thursday launched the next generation iPhone with the hope to reverse dwindling sales of its best selling device and grow revenues from developed markets such as US and China.

The iPhone 7 brings in several new features while still retaining a design similar to that showcased two years ago with the iPhone 6. However, the device could appeal to upgrade buyers with new finishes including a glossy and dull black. Apple has also made the new iPhone dust and water resistant, another demand from users for years.

"iPhone is the industry gold standard. The phone with which every other phone is compared. There's a reason you see so many iPhones everywhere you look, because we've sold a billion of them. This makes the iPhone the best-selling product of its kind in the history of the world," said Tim Cook, CEO of Apple, at the launch event on Thursday.

One of the most loved features, its camera, also got a big upgrade, albeit on the larger iPhone 7 Plus model only. While Apple did upgrade the camera on the smaller 4.7-inch iPhone 7, the 5.5-inch 7 Plus gets a dual camera setup that uses a regular wide angle in addition to a telephoto lens that will allow users a world of read more..

Also Read: Ireland Backs Appeal Against EU Apple Tax Ruling

Also Read: Apple Introduces IPhone 7: Water Resistant, Faster With New Camera

41 companies reward shareholders with bonus in FY17

The number of companies that have announced a bonus issue in the first five months of financial year 2016-17 (FY17) has surpassed the last year's figure with 41 companies declaring a bonus, as compared to 30 companies that did so in the previous corresponding period. During entire previous financial year 2015-16 (FY16), total 59 companies announced bonus shares, data show.

These 41 companies, according to Capitaline Plus data, includes four central public sector enterprises (CPSEs) - Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL), Indian Oil Corporation (IOC), Rural Electrification Corporation (REC) and Power Finance Corporation (PFC). In previous year, Bharat Electronics, was the sole CPSE that issued bonus shares during this period.

Except BPCL, the remaining four companies have announced their April - June (Q1) quarter earnings, and have reported 20% year-on-year growth in their aggregate net profit. On a sequential basis, the combined net profit of these companies has more than read more..

Also Read: Bajaj Finance gains on fixing record date for bonus, stock split

Also Read: ITC trades ex-bonus; hits fresh 52-week high

Also Read: Indian Oil Corp Q1 profit jumps 25% to Rs 8,269 crore, to issue bonus shares