Nifty 17857.25 (-1.94%)
Sensex 59984.7 (-1.89%)
Nifty Bank 39508.95 (-3.34%)
Nifty IT 34913.6 (-1.66%)
Nifty Financial Services 18987.55 (-2.65%)
Adani Ports 688.10 (-7.74%)
Asian Paints 3116.30 (0.70%)
Axis Bank 758.35 (-3.70%)
B P C L 420.80 (-1.61%)
Bajaj Auto 3700.70 (-2.01%)
Bajaj Finance 7484.25 (0.03%)
Bajaj Finserv 17987.70 (-0.13%)
Bharti Airtel 689.75 (-1.79%)
Britannia Inds. 3681.90 (-0.43%)
Cipla 891.75 (-3.33%)
Coal India 166.55 (-4.06%)
Divis Lab. 5121.15 (-0.55%)
Dr Reddys Labs 4569.95 (-1.99%)
Eicher Motors 2527.50 (-2.18%)
Grasim Inds 1702.40 (-1.50%)
H D F C 2900.80 (-0.49%)
HCL Technologies 1152.00 (-2.14%)
HDFC Bank 1593.60 (-2.99%)
HDFC Life Insur. 683.10 (-1.55%)
Hero Motocorp 2667.75 (-0.83%)
Hind. Unilever 2389.65 (-0.29%)
Hindalco Inds. 468.80 (-2.30%)
I O C L 128.65 (-1.64%)
ICICI Bank 798.70 (-4.35%)
IndusInd Bank 1176.00 (2.93%)
Infosys 1703.90 (-1.45%)
ITC 225.10 (-5.60%)
JSW Steel 667.45 (-2.55%)
Kotak Mah. Bank 2098.50 (-4.10%)
Larsen & Toubro 1814.25 (1.66%)
M & M 883.85 (-0.33%)
Maruti Suzuki 7369.70 (0.18%)
Nestle India 18991.40 (-0.07%)
NTPC 137.35 (-2.80%)
O N G C 150.20 (-4.88%)
Power Grid Corpn 185.90 (-2.29%)
Reliance Industr 2598.60 (-1.10%)
SBI Life Insuran 1167.10 (-1.59%)
Shree Cement 28193.05 (0.30%)
St Bk of India 501.35 (-3.43%)
Sun Pharma.Inds. 807.60 (-2.12%)
Tata Consumer 809.70 (-1.11%)
Tata Motors 481.05 (-3.38%)
Tata Steel 1299.60 (-2.00%)
TCS 3421.65 (-1.95%)
Tech Mahindra 1533.30 (-2.20%)
Titan Company 2375.15 (-3.45%)
UltraTech Cem. 7446.65 (1.26%)
UPL 729.90 (-1.56%)
Wipro 656.90 (-2.12%)

Here’s all You Need to Know About IPO Application Process

IPO
22/09/2020

Initial Public Offering (IPO) is the first time issue of shares to the public and listing of stock exchanges. It can be a Fresh Issue of shares, Offer for Sale by existing shareholders or a mixture of both. Application for subscribing for an IPO can be done through both Online & Offline modes.

How to apply for IPOs online?

If you want to apply for an IPO, you need the below:

* Demat account - To hold your shares

* Trading account - To sell your shares

* UPI ID - To block funds in your bank account

You can open demat account with any SEBI registered Depository Participant (DP). These DPs can be banks or brokers.

Key Steps to Apply for an IPO Online.

* Login to your trading platform and select the desired issue (company) in the Current IPO section.

* Enter the Number of lots and price at which you wish to apply for.

* Enter your UPI ID and click on submit. With this your bid will be placed with the exchange.

* You will receive a notification to block funds in your UPI app. Approve the block request.

* Upon the successful approval, the required amount will be blocked in your bank account.

* On allotment, the blocked amount will be deducted from your bank account and shares are credited into your Demat account. Any extra amount to the extent of shares applied but not allotted, will be unblocked by your bank.

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Check Glenmark Life Sciences IPO & Rolex Rings IPO and apply online through 5paisa

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How to apply for IPOs offline?

An offline application is made by submitting the filled-up application to the designated collection centre.

Fill in details like Name, PAN, Demat number, bid quantity, bid price and submit the ASBA application to the Self Certified Syndicate Banks (SCSB). The bank will upload the details of the application in the bidding platform. The onus is on you to ensure accurate details to avoid chances of rejection.

 

Check Out the List of Upcoming IPOs in 2021

 

Tips for making money in IPOs:

1. For retail Investors, in case of over subscription, allotment is done on a lottery basis. So, it is advisable to apply from multiple family accounts instead of more lots from single account.

2. In order to increase allotment chance, instead of select a lower price, it is advisable to place the IPO bid price at cut off, which signifies that you are ready to buy the stock at final decided price.

3. Grey market premium (GMP) is the premium for which people are ready to pay for buying the shares before even stock is listed on the exchange. High GMP signifies higher demand in the market and hence can give more listing gains.

All the required details are available in the Red herring prospectus. You are advised to read the risk factors thoroughly before applying.

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5 Stocks to benefit from Modi’s rural focus policies

22/10/2020

The Modi Government is actively focusing on reviving the rural economy. The government has undertaken many initiatives in order to improve consumption, infrastructure and job opportunities in the rural parts of India. Various programs have been designed by the Government to fulfill the rural requirements. In order to double the farm income by 2022, the government has allocated Rs1.07 lakh crore for expenditure on rural development, out of which Rs.48,000cr is allocated to MNREGA for FY2017-18. At present, as per the media articles, India has ~4 crore un-electrified rural households and the Government targets to provide electricity to every village under its Deendayal Gram Jyoti Yojana. Moreover, the Pradhan Mantri Awaas Yojana (PMAY) plans to provide shelter to people in rural India.

We believe that with increasing rural income levels in the coming years, the rural consumption will get a boost, which in turnwould prove positive for the Indian business scenario. We have chosen some stocks that are likely to benefit from the pick-up in rural economy and are good investment bets from a long term perspective.

Mahindra & Mahindra Financial Services (MMFSL)

MMFSL is one of the leading non-banking finance companies in India, which focuses on the rural and semi-urban sectorsand is the largest Indian tractor financier.Its AUM mix comprised of auto/UV (28%), tractors (17%), cars (22%), CV (12%), pre-owned cars (9%) and SME (12%) as of September 2017. AUM is expected to grow at 17% CAGR over FY17-19E on account of pick-up in rural economy supported by average monsoon in the last two years.. NCDs are forecasted to be ~60% of funding mix in FY19E (vs. 47% in Q2FY18). This will lead to lower cost of funds and margin expansion by~130bps to 8.1% in FY19E. Better collection efficiency via rural cash flows would reduce GNPA to 8% in FY19E (vs. 9% in FY17). We see an upside of 16% from CMP of Rs.475 from one year point of view.

Year NII (Rscr) Net profit (Rscr) NIM (%) P/BV (x) ROE (%)
FY17 3,790 511 7.6 3.6 6.8
FY18E 4,683 753 8.2 3.2 8.9
FY19E 5,511 1,061 8.4 2.8 11.0

Source: 5Paisa Research

Hero MotoCorp

Hero MotoCorp Limited (Hero), the largest manufacturer of Motorcycles in India, enjoys ~53% market share (Q2FY18 domestic sales volume data). It nearly derives half of its total revenue from rural India.The total volume growth in motorcycle was 13% yoy, and in two-wheeler (2W) was ~11%yoyin Q2FY18. Hero is planning new scooter launches to increase market share in that segment and has outlined Rs25bn capex plan over next 2 years. A satisfactory monsoon, Government’s push to double farm incomes and rising urban incomes are strong triggers that will aid volume growth for the company. Hence, we estimate consolidated revenue and PAT CAGR of 12% and 9% respectively over FY17-19E. Exports comprise only 2.3% of total volumes. Despite Hero being a late entrant into the export market, it plans to double the number of countries that it exports to(from 20 to 40) over next few years.We see an upside of 15% from CMP of Rs.3,804 from one year point of view.

Year Net Sales (Rscr) OPM (%) Net Profit (Rscr) EPS (Rs) PE (x) P/BV (x)
FY17 28,475 16.3 3,377 169.1 22.5 7.5
FY18E 32,224 16.3 3,717 186.1 20.4 6.4
FY19E 35,867 15.8 4,041 202.4 18.8 5.5

Source: 5Paisa Research

Dabur India

Dabur is one of the largest FMCG companies in India. Dabur’s business is divided into four areas i.e. consumer care, foods, retail and international business. It is a likely beneficiary of rural expansion and new product launches. We expect revenue growth to be driven by increasing rural reach and market share gains in juices and toothpaste categories. Dabur plans to penetrate ~60,000 villages (particularly in South India) in near term to capitalize on revival in rural consumption (~45% of revenue). Further, new product launches in hair care, fruit drink and ayurvedic segments are likely to support volume growth.It expects GST to be positive for its portfolio, except for Ayurvedic products where tax levied has risen by 5%. Its recent acquisitions in African market in personal and hair care segments and strengthening online presence with large e-retailers (Amazon) would boost profit. Thus, we expect FY17-19E sales and PAT CAGR of 6.0% and 8.2% respectively.We project an upside of 16% from CMP of Rs.355 from one year point of view.

Year Net Sales (Rscr) OPM (%) Net Profit (Rscr) EPS (Rs) PE (x) P/BV (x)
FY17 7,592 19.9% 1,277 7.3 49.0 12.9
FY18E 7,800 20.3% 1,326 7.5 47.1 11.0
FY19E 8,518 20.3% 1,494 8.5 41.8 9.5

Source: 5Paisa Research

Rallis India

Rallis India, a member of Tata group and a manufacturer of pesticides, fertilizers and fine chemicals, stands to benefit from the launch of ‘Rallis Samrudh Krishi’ by improving the quality and yield of the crops. This is a digital initiative, which will help the company to provide end-to-end Agri Solutions to Indian farmers. The company aims to increase market share of Non-Pesticides portfolio (NPP) going forward. Rallis plans to launch new products in cotton, rice, wheat and hybrid cotton segments. Rallis India also aims to increase its focus on plant growth nutrients to support sustainability of crop yields. The management is optimistic on NPP and expects it to contribute 40% to revenue (currently 31%) over next few years. Also, the company is targeting ~20% yoy increase in sales from Metahelix (subsidiary company) backed by adequate seed supplies. Thereby, we see revenue CAGR of 9.3% over FY17-19E. It is virtually a debt free company, which lends financial stability. We see an upside of 17% from CMP of Rs.274 over a period of one year.

Year Net Sales (Rscr) OPM (%) Adj Net Profit (Rscr) EPS (Rs) PE (x) P/BV (x)
FY17 1,772 14.8% 170 8.8 31.3 4.8
FY18E 1,863 15.4% 178 9.2 29.9 4.4
FY19E 2,117 16.2% 222 11.4 23.9 3.9

Source: 5Paisa Research

Jyothy Laboratories Ltd

Jyothy Laboratories Ltd (JLL), present in soaps and detergents for homecare segment, is expected to rebound post demonetisation and GST. JLL has transitioned from a south based player to a pan India company and has multiple drivers that would enable it to grow its market share in respective categories. JLL’s portfolio of six power brands – Ujala (fabric whitener), Exo (dish bar), Maxo (household insecticides), Henko (fabric detergent), Margo (soaps) and Pril (dish wash) contributed 87% to revenue in FY17. Ujala enjoys ~77% share in niche fabric whitener segment. We believe, owing to JLL’s power brands, newer products (toilet cleaner) and passing of GST benefits, volume growth would get a boost. We expect the company to post revenue CAGR of 7.3% over FY17-19E. We project an upside of 20% from CMP of Rs.388 over a period of one year.

Year Net Sales (Rscr) OPM (%) Net Profit (Rscr) EPS (Rs) PE (x) P/BV (x)
FY17 1,683 15.1% 208 11.5 33.8 6.4
FY18E 1,723 15.5% 164 9.1 42.8 5.6
FY19E 1,936 16.7% 214 11.8 32.8 4.8

Source: 5Paisa Research

Next Article

Do You Know sectors to Benefit from Joe Biden’s win?

Benefit from Joe Biden's Win
by Nikita Bhoota 11/11/2020

The markets have turned volatile in advance of the United States (U.S) election and continue to remain volatile post-election. The waves were felt not only in India but across the globe in the equity markets. Joe Biden is to be the 46th President of the U.S and it would certainly lift hopes of certain sectors back in India.

Certain industries that might get affected more than others with Biden’s victory.  Biden plans to spend roughly US $3.2 trillion over the next decade. His plan includes a spending budget of US $750 billion to improve healthcare and the US $750 billion to revamp education as per the media reports. The win of Joe Biden might not make any material difference in the long run, but in the near term.

We have gathered a list of sectors that are likely to benefit from Joe Biden victory as the U.S President.

Metal Stocks and Pharma stocks:

We expect metal stocks to benefit from Biden’s infrastructural push. Metal stocks could gain on the expectation of higher steel export to the U.S for additional infrastructure spending of ~$700-800 bn in the next 10 years.

The Indian Pharma sector is expected to benefit from the Biden win on the back of increased push for generic prescriptions and push to affordable health insurance. Biden plans to protect and strengthen The Affordable Care Act, which ensures a reduction in healthcare costs and access to health insurance for the U.S citizens. This implies more reliance on generic drugs and biosimilars, that would be positive news for Indian Pharma companies. As per the media reports, the U.S imports ~$7 billion worth of formulations from India annually. An increased scope for access to affordable health insurance would also boost the demand for generic drugs.

Electric Vehicle companies:

Biden in his campaign had made it clear that his administration’s focus will be on green energy. As per the media reports, Biden has promised $400 billion in public investment to transition to clean energy, including advanced battery technology and electric vehicles. Therefore, Shares of EV companies and the battery and the solar sectors would benefit from Biden’s win. Biden could also ease concerns about the trade war with China leading to a positive impact on global trade.

Real Estate, Financial Institutions:

A Biden win would mean a larger stimulus followed by additional means to improve healthcare access and other social welfare programs. Sectors that are likely to get impacted include real estate, financial institutions, student loans, etc.

Chemicals, Cement and IT sector

The Chemical sector which competes with China might have a positive impact as the U.S can take a tough stand against China. Similarly, the infrastructure push by Biden will benefit the cement industry.

The market experts have an opinion that visa restrictions for software engineers sent by Indian IT companies could ease. Trump has tightened norms for H-1B visas, mostly used by software services providers to send engineers for on-site work. That prompted IT companies to ramp up hiring local talent in the past three years, increasing costs in the market that contributes 50-65% of the revenue for India’s five largest IT firms. A Biden presidency is, however, seen to be less hostile to immigrants.

Conclusion:

U.S elections are likely to lead to short-term market swings that will be insignificant over the longer run.  Therefore, we recommend the investors to stick to their long-term strategy and stay focused on individual stocks.

Next Article

Is Paint Sector on Recovery Path?

Sector update paint
by Nikita Bhoota 27/11/2020

The paints sector has seen a strong recovery in 2Q, with major players recording double-digit decorative volume growth as economic activity normalised. Recovery was led by economy-end emulsions and driven by rural upcountry towns, even as metros continued to witness sequential improvement. Benign input costs and continuation of cost-control measures taken post-Covid, led to higher than expected Ebitda. Companies remain confident of maintaining margins with festive demand led volume growth seen in Oct and sustainable cost savings.

Decorative demand led recovery:

Decorative volume growth was healthy across paint players Asian Paints (APNT)-11%, Berger Paints (BRGR)-17%, Kansai Nerolac (KNPL)-15%. BRGR saw the highest sales growth, given its focus on economy end emulsions, while Akzo Nobel (Akzo) reported a YoY decline, given higher salience of industrial and premium deco products.

Ebitda beat across the board:

Paint companies registered strong EBITDA margin, as a result of benign input costs and lower than estimated fixed costs, as aggressive cost reduction initiatives taken previous two quarters sustained, even as sales witnessed strong recovery.

Outlook on paint sector:

Overall, we continue to remain cautious on the prospects of the paints sector over the longer term, despite near-term tailwinds resulting from pent-up demand as lockdown eases and economic activity resumes. We believe the sector is highly overvalued, given moderate growth outlook.

Stock Performance:

S&P BSE Sensex has rallied 53.6% (March 25, 2020- November 25,2020) since the first nationwide lockdown was announced by Prime Minister Narendra Modi Here, we have discussed some paint companies’ stocks that have given positive returns or have outer performed the benchmark index S&P BSE Sensex in the same period.

Company name

25-Mar 2020

25-Nov 2020

Gain

Kansai Nerolac Paints Ltd.

326.9

522.7

59.9%

Berger Paints India Ltd.

450.3

635.8

41.2%

Asian Paints Ltd.

1,594.1

2,154.3

35.1%

Akzo Nobel India Ltd.

1,990.9

2,114.0

6.2%

Source: Ace Equity

The stocks in the paints sector have given healthy returns in the past 8 months Kansai Nerolac Paints Ltd. gave a magnificent return of 59.9% from March 25,2020 to November 25,2020.  Kansai Nerolac Paints (KNPL), the Indian subsidiary of Kansai Paints, Japan, has a presence across industrial and decorative coatings. Within the Industrial segment (45%), automotive coatings constitute ~75% of sales. Within the decorative coatings segment, KNPL’s product range spans the entire portfolio from high-end emulsion (~35% share) to low-end distempers/primers (~35% share).

Berger Paints India Ltd. rallied 41.2% in the same period. Berger has presence in the decorative paints, industrial coatings segments in the domestic and international markets. Further, it has a presence in external insulation finishing systems. In the industrial coatings segment, Berger caters to the protective coatings, automotive (primarily two-wheeler and three-wheeler and commercial vehicles) and general industrial segments. Its FY20 revenue mix stood as decorative paints 82%, Industrial paints 10% and rest 8% was contributed by international business.

Asian Paints Ltd. jumped 35.1% from March 25,2020 to November 25,2020. Asian Paints, the largest paint manufacturer in India, operates in the decorative as well as the industrial coatings segments (through its JV with PPG Industries) and has been the market leader in the Indian paints industry since 1968. The company is the second-largest automotive coatings player in India and caters for the auto OEM and refinish markets. Asia contributes the largest share of revenue to its international business (48%), with the rest coming from the Middle East (26%), Africa (20%) and South Pacific regions (6%). It has a strong distribution network in India, with more than 65,000 dealers across the country. Akzo Nobel India Ltd. has given the lowest return of 6.2% in the same period.

Next Article

Aditya Birla Sun Life AMC IPO Subscription Day 2

Aditya Birla Sun Life AMC IPO subscription Day 2
IPO
by 5paisa Research Team 29/01/2021

The Rs.2,768.26 crore IPO of Aditya Birla Sun Life AMC Ltd, consisting entirely of an offer for sale (OFS) of Rs.2,768.26 crore, was just about fully subscribed on Day-2. As per the combined bid details put out by the BSE, Aditya Birla Sun Life AMC Ltd IPO was subscribed 1.07X overall, with bulk of the demand coming from the retail segment. The issue closes on Friday, 01st October.

As of close of 30th September, out of the 277.99 lakh shares on offer in the IPO, Aditya Birla Sun Life AMC Ltd saw bids for 298.73 lakh shares. This implies an overall subscription of 1.07X. The granular break-up of subscriptions were tilted in favour of retail investors but HNI and QIB bids typically come in only on the last day of the IPO.

Aditya Birla Sun Life AMC Ltd IPO Subscription Day-2

 

Category

Subscription Status
Qualified Institutional (QIB) 0.06 Times
Non-Institutional (NII) 0.40 Times
Retail Individual 2.00 Times
Others 0.67 Times
Total 1.07 Times

 

QIB Portion

On 28 September, Aditya Birla Sun Life AMC Ltd did an anchor placement of 110.81 lakh shares at the upper end of the price band of Rs.712, raising Rs.789 crore. The list of QIB investors included a number of FPI names like HSBC, IMF, ADIA, Morgan Stanley, Societe Generale etc. It included domestic institutions like ICICI Pru MF, HDFC MF, SBI MF, Axis MF, SBI Life, HDFC Life, Kotak MF, IIFL Special Opportunities Fund and Abakkus Growth Fund. 

The QIB subscription continued to see negligible subscription at the end of Day-2. The QIB portion (net of anchor allocation of 110.81 lakh shares as above) had a quota of 73.87 lakh shares of which it has got bids for just 4.53 lakh shares, implying a subscription of 0.06X by QIBs at the end of Day-1. QIB bids typically get bunched on the last day, although the anchor response does indicate strong interest in the issue from institutional investors.

HNI Portion

The HNI portion got subscribed 0.40X (getting applications for 22.06 lakh shares against the quota of 55.40 lakh shares). This is an OK response on Day-2 for the HNI segment and could be due to the large size of the IPO. Bulk of the funded applications and corporate applications, come in on the last day, so the actual picture should only get better. 

Retail Individuals

The retail portion was fully subscribed 2.00X at the end of Day-2, showing strong retail appetite. For retail investors; out of the 129.28 lakh shares on offer, valid bids were received for 259.04 lakh shares, which included bids for 201.60 lakh shares at the cut-off price. The IPO is priced in the band of (Rs.695-Rs712) and will close for subscription on 01st October.
 

Also Read:-

Aditya Birla Sun Life AMC IPO : 7 Things to Know About

Upcoming IPOs in 2021

List of Upcoming IPOs in October 2021

Next Article

New rules for Insurance Sector, a positive or a negative move?

Sector Update Insurance
by Nikita Bhoota 01/03/2021

The Indian Government, in its FY22 Union Budget, has made two major announcements, (1) increased the permissible FDI limit from 49% to 74% in insurance companies and allowed foreign ownership and control with safeguards, (2) allowing tax exemption for maturity proceeds of ULIP policies having aggregate premiums of only up to Rs250k per annum (vs. no limit earlier). While increase in FDI limit is positive for the sector, it will increase competitive intensity for the larger and well-capitalized players where FDI was anyways significantly below 49%. On ULIPs taxation, it removes the tax arbitrage benefit that ULIPs used to enjoy vs. mutual funds, thereby reducing its relative attractiveness as a savings vehicle, though certain low cost ULIPs launched by bigger players remain more efficient than Mutual funds for investors.

Increase in FDI limits:

The Government has proposed to increase the permissible FDI limit from 49% to 74% in insurance companies and allow foreign ownership and control with safeguards. Under the new structure, the majority of Directors on the Board and key management persons would be resident Indians, with at least 50% of Directors being Independent Directors, and specified percentage of profits being retained as general reserve. This initiative is likely to provide much required capital to some of the smaller players in the industry as well as an exit to some of the existing JV partners. Given that most of the listed players are well capitalized and have seen their foreign JV partners exiting their holdings, except in case of IPRU, we do not see them as beneficiaries of these FDI changes. On the contrary, it could raise competitive intensity in the sector, especially in the non-life segment where companies may resort to aggressive pricing if equipped with easy capital. Hence, we view this as a marginally negative development for the listed insurance players but positive for the overall sector.

Taxation of proceeds from high premium ULIPs: 

Under Section 10(10D) of the Income Tax Act, proceeds from life insurance policies are tax free if the sum assured is at least 10X of the annual premiums. As per the government, this has resulted in instances of investing in ULIPs with huge premiums to claim the exemption which defeats the legislative intent of this clause, to provide benefit to small and genuine cases of life insurance. Hence, it has been proposed that (1) the tax exemption shall not apply with respect to any ULIP issued on or after February 1, 2021, if the amount of premium payable for any of the years during the term of the policy exceeds Rs.250k, and, (2) if premium is payable by a person for more than one ULIPs, issued on or after Feb 1, 2021, tax exemption shall be available only with respect to such policies where aggregate premium does not exceed Rs250k. However, any sum received on the death of a person will remain exempt. The tax rate applicable on the non-exempt policies will be similar to the concessional capital gains taxation regime as available to the mutual funds (@10% + surcharge/cess).

Stock Performance

S&P BSE Sensex was up only 1% (February 01, 2021- February 26, 2021) post Union Budget FY22 announcement, Here, we have discussed some insurance companies’ stocks that have given positive returns or have underperformed the benchmark index S&P BSE Sensex in the same period. 

 

Company 1-Feb-21 26-Feb-21 Gain/ Loss
ICICI Pru Life 490.25 461.3 -5.90%
HDFC Life 699.05 701.4 0.30%
SBI Life 875 855 -2.30%

 

Source: BSE

The stocks in the insurance sector have underperformed the BSE benchmark in the past 1 month. ICICI Pru Life tanked 5.9% from February 01, 2021- February 26, 2021. Similarly, SBI Life fell 2.3% in the same period. However, HDFC Life gained marginally 0.3% from February 01, 2021- February 26, 2021.