Take Your PICK: Part I - LARGECAP STOCKS
2008-08-04 22:00:00
Divis Laboratories (CMP: Rs 1,393): An established player in the generic active pharma ingredient (API) space and leader among Indian contract research and manufacturing services (CRAMS) players, the company has attained market leadership in several key products. It has 20 of the top 25 innovator companies as its client in CRAMS segment. It recently commissioned a nutraceutical facility for the $1
Investment tips on HDFC BANK, ITC, UNITED SPIRITS, HINDUSTAN CONSTRUCTION, ADHUNIK METALIKS
2008-08-04 01:30:00
GOLDMAN SACHS on HDFC BANK RATING: NEUTRALGOLDMAN Sachs maintains its ‘neutral’ rating on HDFC Bank with a target price of Rs 1,260. The bank reported 44% growth in net profit to Rs 460 crore in Q1 FY09, which was ahead of the consensus expectation of Rs 440 crore. Strong revenue growth, mainly NII growth, and a modest rise in credit costs are the key drivers of this positive surprise in conse
Stock Views on THERMAX, BHEL, BOMBAY RAYON
2008-08-20 01:28:00
Kotak Securities on THERMAX - TARGET PRICE: RS 540 Kotak Securities has assigned an ‘accumulate’ rating to Thermax, saying that recent orders will drive the company’s revenue growth in FY10. “The company is witnessing robust order inflows from steel and sponge iron makers. Thermax has also expanded its prequalifications in refineries. The company indicated that orders have been trickling i
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Stock Views on LANCO INFRATECH, SATYAM COMPUTER, UNITECH, HERO HONDA
2008-08-18 23:47:00
ICICI Securities on LANCO INFRATECH - TARGET PRICE: RS 564BROKERAGE house ICICI Securities has maintained its ‘buy’ recommendation on Lanco Infratech with a price target of Rs 343, but has lowered earnings estimates for FY09 and FY10 by 34% and 42%, respectively, citing slowdown in the infrastructure space.“Slowdown in realty has led to 15-20% downgrade in selling prices across projects and
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Stock Views on VOLTAS, CORPORATION BANK, STERLITE INDUSTRIES, INDIA CEMENTS, IRB INFRASTRUCTURE
2008-08-18 01:09:00
CITIGROUP on VOLTAS - RATING: SELL CITIGROUP rates Voltas as ‘sell/medium risk’ with a target price of Rs 121. Voltas, a Tata group company, is the market leader in India’s heating, ventilation and air-conditioning (HVAC) segment, having 28% market share in electromechanical projects. But domestic demand is decelerating across all its divisions. Citigroup sees increased risk to the company
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KRChoksey vliews on Tata Motors, IVRCL Infrastructure, Wockhardt, Dishman Pharmaceuticals
2008-08-17 07:27:00
Buy Dishman Pharmaceuticals, target of Rs 356KRChoksey Research has maintained its buy rating on Dishman Pharmaceuticals & Chemicals with a target price of Rs 355.8 in its August 1, 2008 research report. "In Q1FY09, the company’s sales have increased by 40.4% on a y-o-y basis to Rs 235.9 crore. The net profit of the company rose by 28.7% y-o-y to Rs 27.7 crore against Rs 21.5 crore.""At the
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, Infrastructure
Stock Views on Ranbaxy, Tanla Solutions, Zee Entertainment, Gammon India
2008-08-16 07:32:00
Ranbaxy has 2-year target of Rs 700: Eastern FinanciersAccording to Eastern Financiers, Ranbaxy Laboratories with the change of ownership, Daiichi Sankyo Limited taking over from Malvinder Singh, we expect the company to grow aggressively and develop. So, the possibility of a de-listing of Ranbaxy stock in the future cannot be ruled out. A 2-year price target of Rs 700 looks possible. Settlement w
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, Entertainment
, Gammon
, India
Religare Views on Axis Bank, Divis Labs, Deepak Fertilizers, PSL, Gujarat Industries Power
2008-08-15 07:36:00
Buy Gujarat
Industries
Power Co, Target Rs 123Religare Research has maintained its buy rating on Gujarat Industries Power Company with a target price of Rs 123 in its August 6, 2008 research report. "The company's revenue at Rs 2,624.5 million was above our estimate by 31.4% due to higher fuel prices for its gas based power plants at Baroda. The higher fuel cost being a pass-through increased the
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, Deepak
KRChoksey views on PVR, DLF, Unitech
2008-08-14 07:22:00
Buy PVRKRChoksey Research has recommended a buy rating on PVR in its August 4, 2008 research report. "Net sales for the Q1FY09 were up by 10% Y-o-Y to Rs 60.2 crore. The growth of 10% was mainly driven by F&B income ( 10% Y-o-Y to Rs12.4 crore) and Advertisement & Royalty income (Y-o-Y 62% to Rs 9.0 crore).""At CMP of Rs 173, the stock is trading at 21.9x TTM EPS of Rs 7.9. We recommend in
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, Unitech
Stock Views on FUTURE CAP HOLDINGS, HCL INFOSYSTEMS
2008-08-13 05:27:00
EDELWEISS on FUTURE CAP HOLDINGS EDELWEISS has initiated coverage on Future Capital Holdings with an ‘accumulate’ rating as it feels that the company with its vertically-integrated model is likely to capture value across the chain in the high-growth consumption space. “The company is building a vertically integrated capital-cum-agency business model through its investment advisory, financin
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Stock Views on JSW Steel, HCL Tech, Tata Steel, HCC, Great Offshore
2008-08-11 19:04:00
Tata Steel
Buy Target Rs 1083Emkay Global Financial Services Ltd has recommended by rating on Tata Steel, with price target of Rs 1083, in its report dated 4th August, 2008.Tata Steel reported standalone 1QFY09 results, which are significantly ahead of our estimates. Net sales stood at Rs 61.65 billion (yoy up 46.9%, qoq up 7.5%), EBITDA stood at Rs 30.25 billion (yoy up 78%, qoq up 25.9%) and adju
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, Great
, Offshore
Stock views on RELIANCE COMM, BANK OF INDIA, AEGIS LOGISTICS, M&M, YES BANK
2008-08-11 04:56:00
CITIGROUP on RELIANCE COMMTARGET PRICE: RS 530CITIGROUP has downgraded Reliance Communications to ‘hold’, citing subdued first quarter and falling capital productivity. Its new target is Rs 530. Essentially, it has cut its FY09-10E EBITDA estimates by 13% and EPS by 14-18% to reflect a host of factors. Chief among them are lower revenue per minute in-line with peers, lower elasticity, staggere
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, views
, LOGISTICS
Stock Views on RCOM, HPCL, OPTO CIRCUITS
2008-08-08 05:07:00
RCOM CMP: RS 442.25 TARGET PRICE: RS 501Merrill Lynch has downgraded Reliance Communications from‘buy’ to ‘neutral’on lower than expected earnings due to weak revenues from its fixed wireless division. “The size of PCO (fixed wireless public call offices) revenues comes as a surprise to us,” says Merrill Lynch, adding that the topline and EBITDA was 8% and 11% below its expectations. T
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Take Your PICK: Part III - SMALLCAP STOCKS
2008-08-07 10:43:00
IPCA Laboratories (CMP: Rs 540): The company’s focus on branded formulations business and emerging economies is expected to be its key growth driver. New products launches in domestic and UK markets coupled with supplies to new emerging economies and US markets should lead to a compounded annual growth rate (CAGR) of 17% in revenues and 22% in profits over next two years. It is expected to clock
Take Your PICK: Part II - MID CAP STOCKS
2008-08-06 10:40:00
GSK Consumer (CMP: Rs 620): The company has a leadership position in the malted beverages space, strong set of core brands (Horlicks & Boost) and rich parentage (new launches from global portfolio). These are expected to help GSK sustain robust growth. Moreover, surplus cash and investments of Rs 400 crore coupled with attractive valuations make it one of the best value plays in the consumer d
Stock View on Raymond, GAIL, Puravankara Projects, Jaiprakash Associates
2008-09-08 23:20:00
MERRILL LYNCH view on Raymond
- RATING: UNDERPERFORMMERRILL Lynch has maintained its ‘underperform’ rating on Raymond as the near-term earnings will remain subdued with denim continuing to be a huge drag on overall performance. The management has indicated that it may reduce its involvement in the denim business — this can be a time-consuming process. Raymond’s 50:50 denim joint venture wi
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, Puravankara
, Projects
, Associates
Ten stocks worth investing in – Part III
2008-09-07 23:24:00
Opto Circuits IndiaOpto Circuits, too, is seen as a good investment, with the stock having fallen by over 45 per cent since it high in January 2008, thereby rendering its valuations attractive at 13 times FY09 estimated earnings and 9 times FY10 earnings.The company manufactures healthcare products in the invasive and non-invasive segments. Historically, the company has been growing at 47 per cent
Ten stocks worth investing in – Part II
2008-09-06 23:18:00
IDFC The country's infrastructure needs should only rise as the economy grows bigger. Even at current projections, the opportunity is huge. The proof: the Eleventh Five Year Plan indicates that $500 billion worth of investment will be required for creation of new infrastructure space, which in turn is positive for companies like Infrastructure Development Finance Company, a lead
Ten stocks worth investing in – Part I
2008-09-05 23:12:00
Aban Offshore In light of rising global crude oil prices, drilling oil from the deep water has become an alternative and feasible option. This, however, has also led to increasing demand for offshore drilling services. As a result of this, the day-rates for different offshore drilling equipment and services have gone up significantly and the availabil
Stock views on Andra Bank, Honda Motors
2008-09-04 23:04:00
Kotak Securities on Andra Bank - TARGET PRICE: RS 81Kotak Securities has initiated coverage on Andhra Bank with an ‘accumulate’ recommendation, saying the bank has one of the lowest NPAs (non-performing assets) in the industry and hence is better placed vis-à-vis its peers. The fact that the bank has been focusing on high yielding segments like agriculture, infrastructure, SMEs and retail has
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, views
, Honda
, Motors
Stock Views on Balaji Telefilms, Ranbaxy, Jyothi Structures, Hindalco Industries
2008-09-03 21:10:00
MERILL Lynch on Balaji
Telefilms - TARGET PRICE: RS 177MERILL Lynch has maintained its “underperform” ratings on Balaji Telefilms. Recently, the STAR Group (STAR) had said it would sell 25.99% stake in BTL to the promoters or parties nominated by it at Rs 190 per share in 240 days. This implies that Balaji would be free to do programming for STAR’s rivals in certain time slots. “However, g
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, Structures
, Industries
Hem Securities Views on Gujarat Fluorochemicals, United Spirits, Aban Offshore
2008-09-02 21:49:00
Buy Gujarat
Fluorochemicals - Target of Rs 300Hem Securities
has recommended a buy rating on Gujarat Fluorochemicals with a price target of Rs 300 in its June 11, 2008 research report. "The company has been a pioneer in the refrigerant business and is has also diversified into the power generation and carbon credits. The chemical complex commissioned in Dahej will strengthen the cost competitivene
Read more: United
, Spirits
, Offshore
Emkay Global views on MRO-TEK, Tech Mahindra, Thermax, Jindal Saw
2008-09-02 00:45:00
Buy MRO-TEK - Target of Rs 92 Emkay Global
Financial Services has maintained its buy rating on MRO-TEK with a target price of Rs 92 in its August 5, 2008 research report. "MRO-Tek Ltd ended the first quarter with 29.6% YoY increase in revenues to Rs 314.4 million on account of about 10% revenue contribution from the company’s own manufactured products. During the quarter, PAT declined by 12.5%
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, Mahindra
, Jindal
Stock Views on Reliance Industries, Tata Consultancy Services, Allied Digital, Grasim Industries, Karuturi Global
2008-09-01 00:34:00
ICICI Securities on Reliance
Industries
- Rating: BUYICICI Securities has maintained its buy rating on Reliance Industries in its June 11, 2008 research report. "We are increasing our FY09 and FY10 crude price and exchange-rate estimates as well as building-in lower refining and petrochemical margins for Reliance Industries (RIL). We are also factoring-in an expected delay in commencement of produ
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, Global
, Consultancy
, Services
, Digital
India Inc lines up $17-billion IPOs
2008-08-31 00:32:00
THERE is always a lull before the storm. After a rather dull first eight months of 2008, the India
n capital markets are headed for a stormy session ahead. What’s in store for the last four months is more than thrice the amount of proceeds raised during the first eight months. In fact, Indian companies are lined up to raise an estimated $17 bn from 56 public issues during the last four months o
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Stock Views on Tata Steel, Idea Cellular, Tata Chemicals, Lupin, ONGC
2008-08-30 00:16:00
CLSA on Tata Steel
- RATING: OUTPERFORMCLSA maintains ‘outperform’ rating on Tata Steel, but lowers its target price to Rs 745. Steel prices have recently corrected by $30-40/tonne across regions, with parallel declines in spot iron ore and scrap prices. A correction in steel prices in H2 CY08 was imminent, as the price hike had overshot the rise in costs. Prices have also weakened due to the
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Karvy views on Ambuja Cements, Andhra Bank, Bank of India, Shree Cements, PVR
2008-08-28 20:53:00
Buy PVR, target of Rs 260Karvy Stock Broking has maintained its buy rating on PVR with a revised target price of Rs 260 in its August 8, 2008 research report. "PVR declared its 1Q FY09 results which were above our expectations. Net sales grew by 10.4% YoY as against our estimates of a 0.4% in 1Q FY09. This was majorly on account of higher than expected income from advertising and royalty. The net
Read more: views
, India
, Andhra
, Shree
Angel Broking views on Jain Irrigation, Finolex, Tata Steel, Tanla Solutions, Amtek Auto
2008-08-28 08:58:00
Buy Amtek Auto, target of Rs 300Angel Broking has maintained its buy rating on Amtek Auto with a target price of Rs 300 in its July 31, 2008 research report. "For 4QFY2008, Amtek Auto (AAL) reported 2.1% growth in Net Sales to Rs 318.2 crore marginally better than our expectation of Rs 315 crore. Higher EOI of Rs 30.5 crore (profit on sale of Amtek India shares of Rs 53 crore and provision on acco
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, Steel
POPULAR CONTRARIAN BOOKS
2008-08-26 23:18:00
Contrarian Investment Strategies: The Next Generation — David Dreman The Contrary Investor and The Fraser Opinion Letter — James Fraser’s newsletters Extraordinary Popular Delusions and the Madness of Crowds — Charles Mackay Five Eminent Contrarians: Careers, Perspectives and Investment Tactics — Steven Mintz The Art of Contrary Thinking — Humphrey Neill
Stock Views on Indian Hotels, Tata Motors, Praj Industries, Infosys
2008-08-26 00:09:00
INDIA Infoline on Indian Hotels
- TARGET PRICE: RS 85 INDIA Infoline has maintained its ‘market performer’ rating on Indian Hotels Co with a reduced price target of Rs 85. The brokerage house expects the company’s volume expansion to come from its new properties and a stable revenue growth over the medium-term with the commissioning of its Ginger brand. “Since the company now operates in a
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, Motors
, Industries
, Infosys
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