Issue Highlights


Issue Period
7/8/2015-11/8/2015
Price Band
Rs. 615 -640
Issue Size (Rs.)
Rs.260.4 -273.21 crore
Issue Size (Volume)
42,69,000
Minimum Bid Quantity
20 shares
Maximum Retail Subscription
Rs. 1,92,000 (15 lots)
Industry
Power Infrastructure
Listing
BSE,NSE
Registrar
Karvy Computershare

Issue Details



(1)    Fresh issue: 21,28,000
(2)    Offer for sale:  21,41,000
(3)    Outstanding shares prior to the issue: 1,25,82,764
(4)    Outstanding shares after the issue: 1,47,10,764

Company Profile

Power Mech is one of the leading power-Infrastructure Company which provides ETC-BTG (erection, testing and commissioning of boilers, turbine and generators), BOP, civil works and O&M (operations & Maintenance) services to power sector and other allied industries like petrochemical, steel and cement.
For FY 14, erection works constituted around 72 % of the total operating revenue. The company is presently engaged in more than 100 erection works projects across India and abroad.

Risks

1.       This Business is highly working-capital intensive and requires seamless cash flows for debt- repayments and for its working capital requirement. Maintaining working capital requirements often results in  further indebtedness
2.       Industry is highly competitive and international competitors enjoys better access to financial and other resources
3.       Higher interest regime is not favorable for the company
4.       OCF to sales ratio is miniscule at .02
5.       Concentrated client base is a threat

Objects of the Issue

(1)    Repayment of the borrowing
Rs. 24.5 crore
(2)    Towards working capital requirement
Rs. 120 crore
(3)    General Corporate Purposes
NA

Financial Profile

Parameter
FY 14 #
P/E  ##
13.8
P/B ##
3.4
PEGProfit  ##
.4
NPM (%)
5.62
ROE (%)##
24.9
ROCE (%)
33.1
OCF/Sales
.021
# Using Consolidated statements at upper price
@ annualized data
## post issue OS shares

Inference

Though, prima facie fundamentals of this company seem satisfactory but this company has a thin net-profit margin and there lies a miniscule cash flow in comparison to its sales.
Except L&T, other peers like BGR energy, Sunil Hitech and Techno Electric all trade at a lower price to earnings multiple than Power Mech. L&T being a diversified company justifies its higher earnings multiple.
This company works in a highly capital intensive industry and maintaining its working capital at an optimum level- is a perquisite and hence this issue is being floated.
Order book of this company is robust but cancellations and variations too keep on taking place and the same could reduce the size of the order book.
The company mainly caters the thermal power sector and power sector is presently facing a slowdown and as a significant portion of the company’s revenue comes from government entities and as such matters are subjected to changing government policies, red-tapism, corruption, routine reviews and audits etc,, there lies  high compliance costs and sometimes payment gets delayed or disallowed.
I did not find any reason to delve deeper into this issue as in the short run this issue may not be a viable one and in the medium to long run its future prospects are not that bright.
I better skip this issue.

NASA -camera -shows-moon- crossing -Earth
A camera on the Deep Space Climate Observatory (DSCOVR) satellite shot an arresting view of the moon crossing in front of the Earth. The image clearly shows the moon's far side lit up by the sun -- though even in full sunlight, the Earth is far brighter.
"It is surprising how much brighter Earth is than the moon," DSCOVR project scientist Adam Szabo said in a news release. "Our planet is a truly brilliant object in dark space compared to the lunar surface."

DSCOVR, which is a partnership between NASA, the National Oceanic and Atmospheric Administration and the U.S. Air Force, is equipped with NASA's Earth Polychromatic Imaging Camera, a 4-megapixel CCD camera and telescope. It's orbiting between the Earth and the sun at a distance of 1 million miles.
Though the moon's so-called dark side isn't visible from Earth -- thanks to the "tidally locked" moon always presenting the same side to its terrestrial neighbour -- It's far from the first time we've seen it.
NASA photographed the moon crossing in front of the Earth in 2008, but the moon was only partially illuminated. Moreover, those images were taken from 31 million miles away.
DSCOVR's primary role is to monitor the solar wind for NOAA, which is "critical to the accuracy and lead time of space weather alerts and forecasts," says NASA.

India’s top telecom service provider Bharti Airtel on Thursday commercially launched its fourth generation (4G) communication services, which are expected to make surfing the web on mobile phones much faster than 3G, in almost 300 towns across the country. Airtel became the first telecom company to roll out its 4G services in India.
With an aim to migrate more and more of its Internet subscribers to 4G, Airtel said users upgrading to 4G services can do so while continuing to pay as per their existing 3G data plans.
“With the help of the feedback received from the beta launches, we have now built India’s first commercial 4G network that will make high speed mobile broadband a reality.
“The national roll-out today is another small step in our journey,” Bharti Airtel (India & South Asia) MD & CEO Gopal Vittal told reporters here.
Airtel’s move comes ahead of launch of 4G services by Reliance Jio – the telecom arm of Mukesh Ambani-led Reliance Industries, towards the end of the year.
Various firm, including Airtel and Reliance Jio, had won spectrum needed to run 4G services in 2010, however, roll out of services has been slow due to technology problems and lack of devices.
While Airtel has 4G spectrum in 14 circles, Reliance Jio is the only player to have these airwaves in all the 22 circles.
Around three weeks ago, Mr. Vittal had also written to Airtel customers across the country to provide suggestions regarding tower sites, to which Mr. Vittal said the company received 20,000 responses, out of which 500 provided leads on potential sites.
Mr. Vittal said the company has increased the number of 4G mobile sites three times in the last 60 days to provide better services to customers
Mr. Vittal said Airtel is talking to various handset makers for the past one year on shaping the device ecosystem for 4G. He, however, refused to comment if the company will come with Airtel branded handsets.


DESCRIÇÃO;
Participe como Garnet, Pérola, Ametista e Steven para deter uma poderosa arma Gem em Ataque ao Prisma!
PODER CRYSTAL GEM
Dispare as Luvas-Foguete de Garnet, invoque a Holo-Pérola e detone seus inimigos com o Pumã Roxo. Todos os quatro Gems possuem ataques e atualizações únicos.

AVENTURAS MÁGICAS
Explore cavernas, enfrente vilões, colete tesouros supersecretos e suba de nível! Encha a mochila de Steven com todo tipo de itens mágicos para ajudá-lo em sua missão.

RPG FÁCIL DE JOGAR
Toque intuitivo e controles deslizantes facilitam os ataques devastadores. Todo novo poder possui uma nova mecânica para dominar.

FUSÃO GEM
Liberte a fusão entre as três Gems, Alexandrite! Ela é uma garota fria como o gelo com poder de fogo espetacular. Não contente-se em apenas atacar o prisma, destrua-o com o poder da fusão!

HISTÓRIA: REBECCA SUGAR
Ataque ao Prisma traz uma nova história da criadora de “Steven Universo”, Rebecca Sugar. O jogo também apresenta narração original dos personagens de Steve Universo!

Quatro heróis que se unem para uma aventura mágica. O RPG mais irado dos últimos tempos! É hora de ATAQUE AO PRISMA!

iMAGENS:






vídeo Descrição:



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Motorola has introduced a pilot project called Moto Xpress to provide after- sale services to its consumers at their doorstep in Delhi, Gurgaon and Noida. Moto Xpress is a home pick up and drop service, that will rectify software and accessory related issues, on the spot within an hour and hardware issues will be resolved within 5 working days.

The service can be availed for Rs 199 each time. “In case, an issue arises with your Motorola smartphone, you can dial our Moto Xpress Service Booking number ‘011-41717124’. As you register your request, our service staff will reach out to a trained Motorola representative who will be at your doorstep on his bike, in no time,” according to a release. Currently, Motorola has 160 service centers across the country.


Descrição:
Entre em ação no mais novo lançamento da melhor série de tiro em primeira pessoa (FPS), que volta ainda mais desafiante! Crie um esquadrão, adicione seus amigos e teste suas habilidades individuais e coletivas contra outros esquadrões.
Gosta de jogar sozinho? Então, entre num mundo obscurecido pela anarquia e detone tudo para revelar a trama lunática que pretende deixar tudo em pedaços.
ESCOLHA SUA CLASSE FAVORITA
> 5 classes personalizáveis que você pode subir de nível jogando sozinho ou no multiplayer.
> Ache seu estilo jogando como Assalto, Blindado, Recon, Sniper ou Apoio.
> Ative habilidades específicas das classes ganhando e gastando pontos de habilidade.
MULTIPLAYER DE ARRASAR
> Combates épicos de equipes em batalhas multiplayer.
> Converse com outros jogadores nos chats globais e de esquadrão.
> Placares individuais e de esquadrão.
> Ganhe recompensas iradas em eventos por tempo limitado.
PROGRESSO UNIFICADO
> Acumule PE e suba de nível jogando missões sozinho ou batalhas multiplayer.
> Desbloqueie grupos de armas sucessivos.
> Personalize a arma perfeita usando melhorias.
INTENSO MODO CAMPANHA SOLO
> Missões aceleradas com vários desafios que te levam de Tóquio à Veneza.
> Jogue as novas missões de operações especiais que são adrenalina pura.
> Gráficos fantásticos. Músicas e dublagens perfeitamente integradas nas cenas.
MELHOR PERSONALIZAÇÃO DE CONTROLES
> Controles intuitivos e de fácil personalização que permitem jogar da maneira que quiser.
Imagens:






Vídeo Descrição:



Download:

obb (parte 1)

obb (parte 2)

jogo pedido por: Napoleão
- Extraia o arquivo obb  mova para Android/obb e instale.-

neil-degrasse-tyson-explain-about-universe-the-scientist
Expert mind-blower, Pluto-hater and all-around explainer Neil DeGrasse Tyson has now proved he can explain everything in the universe by explaining literally everything in the universe.




On MinutePhysics, the famed astrophysicist draws from his book “Origins: Fourteen Billion Years of Cosmic Evolution.” He starts with the beginning of time about 13.7 billion years ago, when “all the space, and all the matter, and all the energy of the known universe was contained in a volume less than one-trillionth the size of the point of a pin.” He ends with homosapiens, who are enabled “to deduce the origin and the evolution of the universe,” like Tyson just did.


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