Sensex
|
| will please suggest me about B G R energy pur at 500 --- On Tue, 2/2/10, sharetrading.
|
I would advocate a strong call to accumulate L&T
CMP 1410 for permanent term
Judge your own worst case price
Make a few slabs
Buy in increasing quantity at all slabs
Here is a co. which will almost represent India be it neuclear , defense or large projects
All current execution delays are temporary phenomenon
Chidambaram had openly praised L&T
All TA`s are expecting down targets
No one is expecting rise in CMP for a couple of quarters
SM
| Buy JKAGRI 187 Strict SL 180 for tgt 192-200-225+ |
|
Attachment(s) from rajesh sheth
1 of 1 File(s)
The macro-economic environment is improving and the market looks directionally positive (albeit interspersed with volatility). Interestingly, while headline indices led the rally in H1FY10, broader indices are now following suit. In this backdrop, though the valuation discount for mid caps vis-a-vis large caps has already narrowed to the business cycle mean, we believe the differential is set to converge further in view of the high growth potential offered by midcaps. From our basket of Mid Cap Ideas, we have cherry-picked a few stocks including Karuturi Global, Mahindra Holidays, Nilkamal, Solar Industries and UB Engineering. These companies exhibit a common theme - a strong underlying core business, proven deliverance by the management and material option triggers going forward. However, they also come with critical risks pertaining to execution, capitalization, lack of transparency or illiquidity. Our sense is that as these concerns get addressed, the business potential will reign supreme and make a case for re-rating of these stocks.
Attachment(s) from samir shah
1 of 1 File(s)
VIEWPOINT : BOUNCE BACK, AS EXPECTED
Our markets put up a smart show yesterday by erasing all the opening losses by the end of the trade. While Nifty gained 0.4% and Sensex closed flat, broader market outperformed significantly as depicted by BSE Mid-cap and Small-cap indices that surged 1.8% and 2.7% respectively. According to data released yesterday,
To Read our Morning Call, Please CLICK HERE
Regards,
Anagram Research
BEWARE !!
This is pbviously another spam mail to extract sensitive information !!!
BEWARE !!
This is pbviously another spam mail to extract sensitive information !!!
Essel Propack
Directionally Correct, Maintain 'BUY'
BUY
CMP: Rs 46 Target Price: Rs 76
Though, Q4CY09 performance was marginally ahead of estimates, but operationally the performance is heading for stated direction. Essel Propack (EPL) reported strong performance in Q4CY09 with - (1) revenues decline by 2.8% yoy to Rs3.5 bn – below our estimates (2) operating profit grew by 2.2% yoy to Rs580 mn – ahead of estimates and (3) net profit of Rs109 mn versus net loss of Rs192 mn – ahead of estimates. EPL reported 80 bps expansion in operating margins - vindicates our argument for steady improvement in operational efficiency.
We expect the earnings to retrace to CY06 levels – fill-up the gap created during the turmoil of CY06-08 period. We maintain our earning estimates of Rs4.3/Share and Rs6.7/Share for CY10E and CY11E. We maintain our valuation methodology - value EPL on average of PER, P/BV and EV/EBITDA methodology. At the current price of Rs46.2/Share, EPL is trading at a PER of 10.7X CY10E and 6.9X CY11E, P/BV of 1.0X CY10E and 0.9X CY11E and EV/EBITDA of 5.0X CY10E and 3.9X CY11E – significantly below CY06 levels. Alongside, strong earnings performance – we expect the valuations to retrace to CY06 levels- fill up the gap created during the turmoil of CY06-08 period. We maintain positive bias with BUY rating and price target of Rs76/Share.
Regards,
Pritesh Chheda, CFA
Emkay Global Financial Services Ltd.
Member:
Opp. Century Mills, Pandurang Budhkar Marg,
Worli, Mumbai - 400 013.
Tel: 6612 1273
Fax: 6624 2410
E-mail : pritesh.chheda@
------------
DISCLAIMER: This document is not for public distribution and has been furnished to you solely for your information and may not be reproduced or redistributed to any other person. The manner of circulation and distribution of this document may be restricted by law or regulation in certain countries, including the
Arshiya International Ltd
Results above expectation; Maintain Buy
BUY
CMP: Rs 187 Target Price: Rs 230
Arshiya reported Q3FY10 results which were above our estimates with revenue growth of 17% to Rs.1.3bn, driven by 13.5% growth in the logistics segment. EBITDA during the quarter grew by 24.6% to Rs.217mn. EBITDA margins grew by 99bps to 16.2%. PAT for the quarter grew by 301.2% to Rs.526mn.
During the quarter, Arshiya entered into an agreement to sell the marketing rights along with all existing customers and hosting infrastructure of their software Cyberlog to Aurion Pro for ~Rs.398mn. This amount has been realized as other income in this quarter. On the rail transport operations front, Arshiya currently has 6 rakes in operation and plans to add 3-5 more till the end of Q4FY10.
We expect the company to report revenue of Rs.5.8bn in FY10 and Rs.7.7bn in FY11. We expect net profit of Rs.571mn in FY10E and Rs.1.1bn in FY11E as we expect the Mumbai & Delhi FTWZs, phase 1 to generate revenue in these fiscal years. The stock currently trades at 19.5x FY10E and 10x FY11E earnings. We maintain our Buy rating on the stock with target price of Rs.230 (based on 12x FY11 earnings).
Regards,
Amit Adesara
Emkay Global Financial Services Ltd.
Member:
Opp. Century Mills, Pandurang Budhkar Marg,
Worli, Mumbai - 400 013.
Tel : 6612 1241
Fax : 6624 2410
E-mail: amit.adesara@
------------
DISCLAIMER: This document is not for public distribution and has been furnished to you solely for your information and may not be reproduced or redistributed to any other person. The manner of circulation and distribution of this document may be restricted by law or regulation in certain countries, including the
IVRCL Infrastructure & Projects
Andhra Pradesh exposure impacts performance
BUY
CMP: Rs 308 Target Price: Rs 399
IVRCL Q3FY10 results are below our expectations. Revenue for the quarter at Rs11.8bn declined by 0.5% yoy on account of continued political turbulence in the state of AP ( AP order book at Rs48.5 bn accounting for 28% of the total order backlog), on account of separation of the Telangana district from the state. EBIDTA margins expansion of 65 bps (Margins at 9.6%) helped EBIDTA growth of 6.8% yoy. Robust order inflows of Rs41 bn (+142% yoy) meant a healthy 22.4 jump in backlog to Rs175 bn (excluding orders worth Rs45bn in which it is the lowest bidder).Management highlighted that on account of continued political turbulence in the state of AP, the irrigation and water segment has seen sharp deceleration in execution. The execution is unlikely to pick up till the issue of separation of the Telangana district from the AP state is resolved. Consequently the management has lowered its guidance of from Rs65 bn to Rs58-60 bn. However it reiterated that the company would deliver EBIDTA margins of 9.5%+. We are downgrading our FY2010 earnings estimate by 12% (EPS of Rs16.5) and by 14% for FY2011 (EPS of Rs20.7).
Though IVRCL is currently facing headwind in term of execution, we believe that the situation is likely to change with AP turning back to political stability. We believe that eventually strong fundamentals like robust order back log of Rs22 bn (~4 X FY21010 E revenues) and strong earnings traction (CAGR of 29% over FY10E-2012E period) would fuel stock performance. IVRCL's current portfolio of 9 BOT projects and a much stronger pipeline should also support stock performance. Given this backdrop, current valuations of 14.9x FY2011 earnings are reasonably attractive. Maintain BUY, with a revised price target of Rs399.
Regards,
Ajit Motwani
Emkay Global Financial Services Ltd.
Member:
Opp. Century Mills, Pandurang Budhkar Marg,
Worli, Mumbai - 400 013.
Tel: 6612 1255
Fax: 6624 2410
E-mail : ajit.motwani@
------------
DISCLAIMER: This document is not for public distribution and has been furnished to you solely for your information and may not be reproduced or redistributed to any other person. The manner of circulation and distribution of this document may be restricted by law or regulation in certain countries, including the
