[sharetrading] Buy JKIL cmp 198 SL 195 tgt 203-205-210+

 

Buy JKIL cmp 198 SL 195 tgt 203-205-210+

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[sharetrading] Bharti and Satyam

 

Dear All,

I have Bharti@276 and Satyam@98. Hold or Sell ?? Please suggest.


Regards
Sushanta

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Re: [sharetrading] Investor's Eye

 

sell nifty@5110 sl 5143 trg 5030

On Fri, Mar 5, 2010 at 7:51 AM, ekam ber <ekamber@gmail.com> wrote:

 

[Attachment(s) from ekam ber included below]

Investor's Eye: Update - Bharti Airtel (Increase in spectrum charges to impact margin); Viewpoint - Ashok Leyland (Strong volume growth in February)

 

Investor's Eye [March 04, 2010]  Sharekhan www.sharekhan.com

Summary of Contents STOCK UPDATE Bharti Airtel     Cluster: Apple Green Recommendation: Hold Price target: Rs350 Current market price: Rs293 Increase in spectrum charges to impact margin Key points After being delayed host of times, the formal document for 3G auction?the notice inviting applicants (NIA)?has been sent to telecom operators with a revised 3G schedule, which is to begin from April 09, 2010. The key difference between the present information memorandum and the previous document published in October 2009 is that there has been even distribution of slots across circles. There has been no change in the reserve price for slots and the government?s revenue target from 3G auction remains intact at Rs35 billion. The successful 3G bidder with existing 2G operations would have to pay 3-8% of the consolidated adjusted gross revenue (AGR) depending on the amount of 2G spectrum owned by the operator as against the present charge of 2-6% paid by the operator.  The spectrum slots in two of the five key circles where Bharti Airtel operates have been increased (in Delhi the 3G slots has been increased to 3 from 2, while in Rajasthan it has upped to 4 from 0). This allays fear of overbidding in these lucrative circles?which is positive for Bharti Airtel. On the flip side, the increase in spectrum charges by 100-200 basis points depending on the spectrum concentration by the operator would increase the cost for all the operators. We expect Bharti Airtel?s blended spectrum charges to AGR increasing by 100 basis point to 5.5% from 4.5% with a corresponding negative impact on its earnings before interest, tax, depreciation and amortisation (EBITDA) margin. We maintain our revenue as well as profit estimates for the company in the wake of impending Zain acquisition and uncertainty surrounding the 3G auction process. Post clarity on these issues we would revise our estimates. The domestic telecom sector has been negatively impacted by irrational pricing, forcing telecom operators with strong balance sheet (like Bharti Airtel) to look for acquisitions in other emerging markets. Given the recent correction in the stock price, we advice investors with patience and fairly long-term investment horizon to gradually accumulate the stock. We maintain our Hold recommendation on the stock mainly due to competition-led pricing pressure in the domestic market, impending deal with Zain Africa and uncertainty surrounding the 3G auction process that would remain an overhang on the stock in the short term. We maintain our price target of Rs350. At the current price, the stock is trading at a price to earnings (P/E) of 12.8x and enterprise value (EV)/EBITDA of 7.4x its FY2011 estimates. VIEWPOINT Ashok Leyland Strong volume growth in February Ashok Leyland has reported a stupendous 142.5% year-on-year (y-o-y) growth in its sales volume in February 2010. The robust volume growth for the month was mainly on account of a strong pick-up in the domestic industrial and infrastructure activity and a low base of the last year. On account of a resurgent macroeconomic recovery, the commercial vehicle business is likely to see a strong growth. Moreover, Ashok Leyland is well poised to maximise the benefits of higher government spending on infrastructure development coupled with higher industrial production, lower interest rates and a low base of the previous year. At the current market price, the stock is trading at 21x its FY2010E and 15.7x its FY2011E Bloomberg consensus earnings.

Regards, The Sharekhan Research Team

 

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Bonus Issues, Stock Splits, Rights Issues, IPO Updates: What is French auction method adopted by NTPC FPO?

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• What is French auction method adopted by NTPC FPO?
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What is French auction method adopted by NTPC FPO? Posted: 04 Mar 2010 03:54 PM PST For the first time in the country, the French auction route was adopted for NTPC FPO. Soon after the sober closing of the issue everyone came out in the open lashing this approach. To analyse the limitations of this route we first have to understand what it is all about. Under the French auction method, [...] Read More...

Dalal Street Technical Buy Call - Colgate Palmolive Posted: 04 Mar 2010 03:27 PM PST Colgate Palm. CMP - Rs 705.10 1st Target: 745 (4-6 weeks) 2nd Target: 771 (12-14 weeks) Stoploss: 685.00 (cls) Colgate Palm. bottomed out by posting an intra-week low of Rs. 341.00 during the week ended 10th October 2008 and these levels have rarely been seen since. The scrip launched into an intermediate uptrend, and rallied to peak at an intra-week [...] Read More...

Record date - LG Balakrishnan & Bros Consolidation of Shares Posted: 04 Mar 2010 09:09 AM PST LG Balakrishnan & Bros has fixed 17 March 2010 as the record date for ascertainment of shareholders to whom the company has to allot the equity shares of face value of Rs. 10 each in lieu of the existing equity shares of face value of Re. 1 each. Read More...

Record Date - Pidilite Industries Bonus Issue Posted: 04 Mar 2010 08:57 AM PST Pidilite Industries bonus issue record date has been fixed as 17 March 2010 for determining entitlement of members to receive bonus equity shares in the ratio of 1:1. Pidilite Industries manufactures products which can be segmented into consumer products: art materials & stationary, publications, food & fabric care, car products and adhesives & sealants; [...] Read More...

Record Date - Shree Renuka Sugars Bonus Issue Posted: 04 Mar 2010 08:52 AM PST Shree Renuka Sugars has fixed 17 March 2010 as the record date for determining the equity shareholders who shall be entitled to Shree Renuka Sugars bonus shares to be issued in the ratio of 1:1. Shree Renuka Sugars’ net profit surged 1827.7% to Rs 194.70 crore on a 270.4% rise in sales to Rs 1253 crore [...] Read More...

Record date - National Aluminium Company Interim Dividend Posted: 04 Mar 2010 08:20 AM PST National Aluminium Company (NALCO) has fixed 25 March 2010 as the record date for the purpose of payment of interim dividend. NALCO has units all over India at places like Angul and Damanjodi. It was incorporated as a public sector enterprise of the Government of India in 1981. Read More...

Record date - Neyveli Lignite Corporation Interim Dividend Posted: 04 Mar 2010 08:17 AM PST Neyveli Lignite Corporation has fixed 17 March 2010 as the record date for the purpose of payment of interim dividend. Neyveli Lignite Corporation Limited (NLC) is a government-owned lignite mining company in India. One of the public sector undertakings, the company is wholly owned by the Union Government (49 percent) and administered through the Ministry [...] Read More...

Record date - D.B. Corp Interim Dividend Posted: 04 Mar 2010 08:10 AM PST D. B. Corp has fixed 12 March 2010 as the record date for the purpose of payment of interim dividend. The board meeting of D. B. Corp was held on 02 March 2010 to consider a proposal for declaration of interim dividend for the financial year 2009-10. Read More...

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