Standard Chartered PLC IDRS Message Board (Page 13)

Sreedhar,
Congratulations to Sreedhar, the Agriculturist!

Fiis nay ab tal 1 paisa bhi nahi lagaya hi, indian investor allotment kay bad bhokay naygo ke tarah lose may sell karnay lagtay hi jissay share ke ma bahen 1 ho jati hi.

STND QUOTING ABOUT Rs 111.32 ON LSE

http://www.londonstockexchange.com/exchange/prices-and-news/stocks/summary/company-summary.html?fourWayKey=GB0004082847GBGBXSET0

How much you have earned from primary market and then analys yourself for applying in this issue. I think one should not apply even in any case. Presently indian public was LOOTING the public now this foreign company stated LOOTING the foolish indian public .so dont think for applyong even we should not waust the time for discussion. The only lesson to foreign company that we will not give you money for your meeting expenses. AVOID AVOID AVOID

Sub broker kah rahay hi lagao jisasay unko mota commition milay , yah vahi baat hui ke gadha agar suki grass na ka raha ho tho usko hara chasma pahna do grass hari dekh kar ka layga .

Aditya Birla Money

Broking firm has recommended investors to `Subscribe` the issue for long term perspective. The rationale is as under:

``The bank has priced its issue at 14.5x its P/E on CY09 earnings and 1.85x its P/BV at the upper band which looks fairly valued compared to its peers. Further the bank`s low cost current and savings account balance comprises 53% of the total deposit base, which will enable the bank to keep NIM stable in a current rising interest rate scenario.``

``Considering bank s healthy CAGR growth of 22% (2003-09) in its profits, large distribution network, global brand name, higher CASA ratio, diversified geographical base and reasonable valuations compared to its listed Indian peers. We recommend investors to `Subscribe` the issue for long term perspective.``

> Jaypee Capital Services

Its outlook is positive and it gives a `Subscribe` rating to the issue. The rationale is given below:

``With the accelerated growth of Standard Chartered and its presence in the fast growing areas of Asia, Africa and Middle‐east, it is a great opportunity for Investors to become a part of the growth story of this global bank. Moreover, the bank has been growing at record rates in India which is a key market for the bank. With financial sector stabilizing and liquidity situation improving, banking sector is no longer in deep pressure and investing in Standard Chartered gives the opportunity to investors to invest in a global bank. Hence, our outlook for the issue is positive and we give a `Subscribe` rating to the issue.``

``The investors should not expect huge listing gains but due to the strong fundamentals, strength of the company and diversified business with income coming from growing economies, the investor should aim for a medium to long‐ term investment horizon and expect gains if he invests for a longer duration.``

> Sharekhan

It said there is scope for some appreciation considering the 5% discount offered to the retail investors. Below is the rationale:

``Standard Chartered Bank`s IDR provides the Indian investor a chance to invest in a global entity with widespread geographical presence. As a result of its diversified presence and emerging market focus, the bank came out relatively unscathed from the sub-prime crisis and is now well poised to benefit from the ongoing recovery in the emerging economies. Hence, the bank is an excellent diversified multinational banking play with strategic position in high-growth emerging markets. However, the issue price discounts most of the positives. Moreover, the stock has certain disadvantages such as lower institutional participation (as domestic insurers are not allowed to participate in IDR and a restricted FII interest) and higher incidence of tax (dividend and capital gains tax) on IDRs.``

``At the lower end of the offer price band, the stock is offered at around 10% discount to its current market price at the Hongkong Stock Exchange (HKD 185 implies a value of Rs111 per IDR; 10 IDRs equal to one equity share) and leaves scope for some appreciation considering the 5% discount offered to the retail investors.``

What Ails IPO Market?

Greed is killing IPO market. Many investors borrow money to invest in IPO. These speculators would be in deep problem. There is turmoil in illegal betting shops(Ahmedabad, Rajkot, Kolkata).

It takes two hands to clap. If we ask about the greed of merchant bankers and promoters, we should also talk about the irrational exuberance of investors. Do they rush to invest in an issue simply because it rained harder that day? In the euphoria, they forget to look at the fundamentals.

Bankers and promoters sell anything at any price on the story going ahead. Investors look at grey market prices and buy. This is also true of the 'sophisticated' investors such as FIIs and hedge funds. Euphoria was created which was not supported by fundamentals.

Indiabulls Power doesn't have a P/E; it has no earnings. As its prospectus explained: "We currently have no power plants in operation or other revenue-generating operations, and we have no significant operating history from which you can evaluate our business and future prospects and viability... Commercial operations at our first power plant is not scheduled to commence before December 2014..."

IPOs are typically priced by leaving a discount to the realizable price at listing. It is always a good idea to leave a discount to motivate investors to subscribe.

SEBI Role

I don't think the regulator should set the price of issues. Let the markets be efficient. As long as there are enough knowledgeable investors, promoters who try to overprice won't succeed.

Bankers should be made more accountable. If the bankers are made to function as underwriters, too (which means that they will have to pay out the money for the unsubscribed portion of an issue), they are likely to be more circumspect about pricing.

In addition, IPOs should be allowed to give an independent view of the pricing. But I don't think anyone will give pricing a second look in a bull market, when they aren't likely even to read the IPO ratings. In a bear market, they are not going to be investing in IPOs, anyway.

HSBC has SUBSCRIBE recommendation the IDR [Indian Depository Receipts] issue of Standard Chartered Plc with the following note,

Quote
Investors looking at taking an exposure to other emerging economies of Asia, the Middle East and Africa are advised to consider subscribing to this issue at the current valuations. The stock is currently trading on the LSE (based on closing price on 19 May 2010) at 1.9x CY09 BV and 2.14x adjusted book value. Historically, the stock has traded in the range of 1.8–2.5x times book value and is currently trading at 1.69x FY10 and 1.56x FY12 Bloomberg consensus book value (calculated based on closing price on 19 May 10). As compared to this, HSBC Holdings with a RoE of 5% (13% for Standard Chartered) is trading at 1.23x FY11 earnings and 1.14x FY12 earnings. Adjusted for RoE, Standard Chartered Bank is still trading at an attractive valuation.

Dalal & Broacha Stock Broking Pvt Ltd. has a NEUTRAL View on the IDR Offering of StanChart.
--------------------------------------------------------------------------------

IIFL's Views on Stanchart IDR issue,


Quote
SCB’s forthcoming IDR provides an opportunity for Indian investors to buy into a truly pan-Asian bank with strong presence in India, Hong Kong, South Korea and Singapore. The bank emerged unscathed from the recent financial crisis and has delivered a remarkable 16.5% net profit CAGR during 2004-09. It is a well-known brand in Asia, offering a full product suite, strong ability to offer cross-border financing and deal structuring, stable funding base, and a well-capitalised balance sheet. We estimate 18% CAGR in net profit over FY10-11ii. Valuations are reasonable at 1.5x FY10ii book, and we expect the IDR to develop a small premium, in addition to steady appreciation in underlying shares.
Credit Suisse says that IDRs could trade at a discount and further adds its report,

Quote
While its India operations’ profitability is high, STAN’s overall profitability (CY09 ROA of 0.8%; CY11 ROA of 1.01%) is relatively low compared with that of Indian banks. Moreover, with its diversified presence, its 10% loan growth is likely to be below that of local banks (20-25% over the next two years). The bank’s upcoming IDR issue provides a high quality diversification option to domestic investors. However, domestic insurers are not allowed to own IDRs, and with lower liquidity (STAN trades over US$150-200 mn a day in Europe), foreign interest in the IDRs would be limited. Retail and HNI interest will also be dampened by the higher taxation on both dividend and capital gains on IDRs compared to rates on local stocks Therefore, with little appeal to the primary investors (insurers and foreigners own 60-80% of free float) in Indian banks, we expect STAN’s IDR multiples to be at a discount to that of Indian banks. Also, with restrictions on fungibility, IDRs may trade at a discount to the bank’s Hong Kong and London listings.

Prabhudas Lilaldhar has a SUBSCRIBE recommendation on the IPO of Standard Chartered IDR with the following note,

Quote
Standard Chartered PLC is a well covered stock globally as per Bloomberg. Of the overall global analyst coverage (22), the stock has been rated ‘BUY’ by ten analysts, ‘Hold’ by 9, ‘Neutral’ by 2 and ‘Sell’ by 1. Based on the Bloomberg consensus estimates, the stock trades at 1.7x its CY10E BV and 1.5x its CY11E BV. Though it trades at a significant premium to its global peers, we believe that healthy return ratios (adjusted RoE on tangible networth is ~18%), superior asset quality, profitability, its diversified business model and strong presence in high growth Asian and African markets justify the valuation premium.

Standard Chartered PLC is a global financial conglomerate operating through a number of subsidiaries (through 1700 outlets) across the world providing banking and financial services focusing primarily on Asia, Africa and the Middle East markets. The company is offering 240m IDRs within a price band of Rs100-115 (implying an issue size of Rs24-27.6bn) and 10 IDRs representing one share of the company. The company is raising capital to fund growth of its global businesses, provide diversified investment opportunity to domestic investors and build a strong brand for itself. We recommend a ‘Subscribe’ due to following reasons:

K R Choksey has a SUBSCRIBE recommendation with the following note,

Quote
With operational presence in 70 countries and increasing foot print into Indian banking business standard chartered presents an excellent opportunity for the Indian Investor to buy a global banking franchise. A conservative business model combined with reasonable RoE of 14% and ~1% RoA the bank is available at a reasonable price of 1.6X FYE FY10BV. We therefore recommend a SUBSCRIBE on the stock.

Unicon Wealth Research has a SUBSCRIBE recommendation on the IDR of StanChart with the following note,

The Indian Investor is getting an opportunity through Standard Chartered Bank’s IDR to invest in global company. The issue has certain constraints in terms of lower institutional participation & higher incidence of tax. In terms of valuation, the stock is currently trading at 1.7x book value. Its peer group valuation is in the range of 1.5x-3.4x. Further, for retail investors it is offered in the Price band of INR 95-109 which implies a P/B of 1.5-1.7x. However, considering the wide presence in the emerging economies which will benefit bank’s future performance, we recommend investors to SUBSCRIBE to the issue. --------------------------------------------------------------------------------

Angel Broking has the following recommendation on the iPO of Stanchart,

Quote
SCB's IDR provides Indian investors a vehicle to invest in a global entity that has a global presence. As a result of its diversified presence and emerging market focus, SCB came out relatively unscathed from the sub-prime crisis and is now well poised to benefit from the ongoing recovery in emerging economies. Hence, the bank is an excellent diversified multinational banking play, with strategic positioning in high-growth emerging markets. The stock is currently trading at 1.7x CY2010 P/B vis-a-vis 2.9x and 3.8x FY2010 P/B for Axis Bank and HDFC Bank, respectively. We recommend Subscribe to the Issue.

-THIS WILL BE ANOTHER SHREE GANESH! WHY?-ALL BROKERS ARE SAYING APPLY APPLY AND APPLY!

JACKALS AT IPO MARKET....

The stock markets are more governed by excesses be it bull market or a bear market. Investors need to be equanimous and not be carried away by the noise of the markets. Don’t be too guided by what you read in the papers and what you see on your favorite stock market television shows or listen to fund manager talk shows. You tend to make decisions based on the vividly displayed available information which is hammered on to you continuously. Here is the word of caution: do not be carried away by the current fads and fancies of the market. You are bound to get trapped.

Economy is strong: What does that mean? Investors are turning greedy and willing to pay any price for stocks. So, who is hunting for these small investors? Promoters are waiting to cash out on the greed of these investors. They are ready with their Initial Public Offerings (IPO’s). Many more IPO’s are yet to come. There seems to be race to get as much money from the markets before the party ends. Every time the theme changes in the markets.

In the last three years we had the themes of Real Estate and Power collecting huge sums of money through the IPO route and leaving the investors nursing their losses. These themes were the fancies and investors chased them in the hope of making money. But the promoters are smarter than you. Remember one important lesson: Nobody can cheat you without your consent. So if you got cheated the fault was yours as you were greedy. Keep your greed under control and you will be the winner. Take a current example. After the election results all of a sudden the Infrastructure stocks started going up and the Infrastructure Industry became a fancy. Most of the Mutual Funds were in the markets offering Infrastructure Fund Offerings within a week. They knew that the name Infrastructure being fancy investors would be too willing to part with their money in such Infrastructure Funds. So now what would be the next fancy in the markets? Not difficult to guess if you have your emotions under control and are able to see the greed of the promoters.

Next theme going to be “Insurance”. With the government willing to open up the Insurance sector we will see a flood of IPO’s in the sector. Investors would do well not be carried away by this euphoria and think ten times before paying excessive prices for such IPO’s even if they happen to be from big multinational faceless organizations or from Indian business houses.

None of the IPO opportunities were offered to you last year. Why? Because you were too scared of investing in the markets and were much wiser with your money. You would not have paid any fancy price for such offerings. If you were not a fool to pay a fancy price they were not fools either to offer you the shares at such low prices.

Blindly sell NHPC, NTPC, NMDC, SJVNL, JAYPEE INFRA, Reliance Powers, Emmbi, Indiabulls Power, Shree Ganesh, DB Reality as all these have already LOOT the public for three years at maximum rates.

Only I have sold all NHPC @ 36/-, NMDC @ 401/- and NTPC @ 221/-.

Today, I have mentioned closing price of NTPC will be Rs. 192.10, NHPC Rs. 29.05, NMDC – 269.25, JAYPEE INFRA 81.25.These are going to be accurate.

My prediction was 100% accurate in last six months.

NTPC - will not go more than 209/- in last and interim case.
NHPC - Average 0.25 paise per day down
NMDC - Average 1.00 Rupee per day down.

My all the above three prediction was 100% accurate hence please don't write any joke here that "ntpc(target-227 next 15 days)"

Now, NHPC will take minimum 36 months to reach at 36/-
NTPC will take minimum 21 months to reach at 221/-
NMDC will take minimum 401 days to reach at 401/-
SJVNL will take minimum 30 months to reach at 30/-.
JAYPEE will take minimum 30 months to reach 102/-

Because, this Govt. main motto is to LOOT at maximum rates. Hence, we all have not applied in SJVNL IPO (Idiot Public Offer), NTPC, NMDC FPO (Fool Public Offer)

See, when market goes down all the above stock down 5-6%. When market up by 400 points even than these stock are down by 5-6%. Good LOOT at maximum rates.

Jho apnay Desh and uskay banko say kartay hi piyar, ldr ko karday salaam.

3      Retail Individual Investors (RIIs)      72000000      857600      0.01            
3(a)      Cut Off            529600                  
3(b)      Price Bids             328000                  

our bank are good then sc

stan bank issue will turn to be good only for some people with high income as they can set the loss through this issue against profit from other businesses. best of luck

Chindi chooro, Q.I.Bs and H.N.Is last time pay apni bid withdraw kar laygay and tum lage jaal may masli ke tarah phas jaogay.

FOKT choro, fair value idr is rs.42, ipo/fpo/idr ke line chod do nahi tho market tumko atmhataya karnay pay majboor kardaygi.

apply apply apply appply appply to standard chartered will list above 150 lagao lagao lagao lagao.

YAH MARKET HI YAHA KUS BHI HO SAKTA HI,NHPC,SJVNL jaisay shares dhool chat rahay hi,shree ganesh 260 say 110 ho gaya 50 bhi ho sakta hi,europe sankat may phas kar stand chart defalt bhi ho sakta hi jaisy u.s.a may ho chuka hi tab koi isko rs 5 may bhi buy nahi karyga.

sept 09 low 4561 nifty to test this low as dow has already tested Oct 09 low at 9865 and closed above 10000 but still dow is weak and also oil is weak today oil reached 66 dollars to an barrel from an high of 85 dollars . all stock in dow are 18 to 20 percent of their highs but still reliance is holding at 1050 it is likely to test rs 850 and then rs 750 due to weakness of oil. I wonder about the leakage of oil at mexico of bpl i eel they tried to seal the wellto hold the price of oil at 80 dollars but nature has it own flow and so reliance will have its own coarse to come down no body can hold it to rs 1050 best of luck

AT RS.100 AND NET RATE RS. 95 ITS A GOOD ISSUE FOR 10% UPSIDE ONE MAY APPLY IN THIS ISSUE.

I M THINKING OF APPLYING 8 APPLCN OF 200 IDR EACH,
THERE WILL BE NO LOSS AT 95 TILL IT LISTED