BSEIndia: All Stock Market News: 09/13/10

Monday, September 13, 2010

Arihant Cap - Fixes Record Date for Stock Split & Bonus Issue
Arihant Capital Markets Ltd has informed BSE that the Company has fixed September 24, 2010 as the Record Date for determining the eligibility of Shareholders eligible for getting the sub-divided Equity share of Rs. 5/- each and bonus share in ratio of 3 (Three) Bonus Shares of Rs. 5/- (Rupees five) each for every 5 (Five) fully paid-up Equity Share of Rs. 5/- (Rupees five) each.

United Brew - United Breweries to consolidated group's beer business-Merger of Millennium Alcobev Breweries with United Breweries Ltd
United Breweries Ltd has informed BSE that regarding a Press Release dated September 13, 2010 titled
'United Breweries to consolidated group's beer business-Merger of Millennium Alcobev Breweries with United Breweries Ltd'

Asian Hotels (East) - Board recommends Dividend
Asian Hotels (East) Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 04, 2010, had declared a Dividend of 30%, i.e. Rs. 3/- per equity share of the Company subject to the confirmation of the same by the shareholders of the Company at the ensuing AGM to be held on September 29, 2010.

Shalibhadra Fin - Board recommends Dividend
Shalibhadra Finance Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 08, 2010, has recommended the payment for dividend @ 8% (Rs. 0.80 per share of Rs. 10 each) for the financial year ending March 31, 2010 subject to approval by the share holders in their ensuing Annual General Meeting.

SB&T Intl - Board recommends Dividend
SB&T International Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 08, 2010, has recommended dividend @ 1% (Re. 0.10 per fully paid up Equity Shares of Rs. 10 each) on the Paid-up Capital o the Company.

Zee Entert - Board to consider Audited FY10 results & Final Dividend on Sep 23, 2010
Zee Entertainment Enterprises Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on September 23, 2010, inter alia, to consider the following:
1. Approval of Audited Financial Results of the Company for the financial year ended March 31, 2010 and recommend final dividend, if any, for ...

Titan Biotech - Board recommends Dividend
Titan Biotech Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 06, 2010, inter alia, have recommended dividend of 5% on equity shares i.e. Rs. 0.50 per share for the year 2009-10 to the shareholders of the Company subject to declaration of dividend by shareholders in the AGM scheduled on September 30, 2010.

Indswift - Board recommends Dividend
Ind-Swift Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 06, 2010, inter alia, has declared dividend @ 20% on equity shares (i.e. Rs. 0.40 per share).

[investwise] Aravali Securities-7.50 lakh shares change hands...precursor to something big?

13/9/2010	512344	Aravali Sec	CHANDRALEKHA PODDAR	B	650960	20.00
13/9/2010	512344	Aravali Sec	SUNDAR IYER	B	150000	19.79
13/9/2010	512344	Aravali Sec	SILVER OAK PROPERTIES PVT LTD	S	749000	20.00

Safe Harbor Statement:

Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.

Nothing in this article is, or should be construed as, investment advice.

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[investwise] MS-SOE Banks [1 Attachment]

[Attachment(s) from Maverick included below]

FYI

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[investwise] Will Real Estate Stocks Triple In 2011? [1 Attachment]

[Attachment(s) from Maverick included below]

FYI

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Attachment(s) from Maverick

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RealEstate-Ideas1st.pdf

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[investwise] HDIL Goes For The Jugular, Raises $650 mn through QIP

Housing Development and Infrastructure Ltd has informed BSE that subsequent to the approval accorded by the shareholders of the Company by a special resolution under Section 81(1A) and other applicable provisions of the Companies Act, 1956, at their annual general meeting held on August 27, 2010, to the issue and allot equity shares for cash either at par or premium aggregating to an amount not exceeding USD 650,000,000 (United States Dollar Six Hundred and Fifty Million), to the Qualified Institutional Buyers ("QIBs"), the QIP Committee (as empowered by the Board at its meeting held on August 27, 2010) has, decided to make an issuance of equity shares of face value Rs. 10 each of the Company, to the QIBs under the said Placement and for this purpose, to open the issue.

Further the Company has informed that, the floor price in respect of the aforesaid placement, based on the pricing formula as prescribed under Regulation 85 of the SEBI Regulations is Rs. 268.18 per equity share, and the relevant date for this purpose, in terms of Regulation 81(c) of the SEBI Regulations, is September 13, 2010.

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[investwise] Realtors In Delhi, Bombay Might Get In Favour Next (Anand Rathi)

Property Conference. Anand Rathi Institutional Equities' 'India Property Conference' was held in Mumbai over 7-8 Sep '10. It featured 16 listed & unlisted companies; the keynote address was followed by a panel discussion on commercial property.

n Key note - Slum-free Mumbai: Myth to Realty - Steps envisaged. The CEO, SRA reiterated government focus on slum rehab in Mumbai, with 0.2m houses under construction (vs. 0.15m delivered). He also highlighted plans to amend some laws in favour of private developer participation in North Mumbai rehab.

n Panel discussion - Commercial Property: Road ahead. Commercial recovery can be faster than estimated, given improving transactions, albeit only in certain markets. IT/ITES will remain the most important space absorber, followed by telecom and financial services sectors. Although recovery will be micro-market specific, Bangalore emerges the best-placed for commercial recovery amongst other metros.

n Key takeaways. Developers reiterate more focus on execution of projects with continual focus on residential projects as well as reducing debt. Cash-rich companies are acquiring land across city centres and suburbs. Overall, Bangalore is the steadiest market with inventory being delivered and new project launches at lower-than-peak rates.

n Interesting stock ideas. We prefer Mumbai developers: HDIL, given de-risking from MIAL project via new residential launches across Mumbai City Suburbs; Ackruti City , with SRS projects getting converted into free-sales, corporate block sales and large PPP project launches in suburbs likely to outperform other micro-markets ( South Mumbai ). Risks: government laws affecting TDR demand; demand slowdown.

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Fwd: Anand Rathi Forecasts An FY11 EPS of Rs 300/share for Polyplex

13th Sept.'10

Why Madness in Packaging film sector......

PACKAGING FILM SECTOR - TREND & TOP PICK

We were bullish on Polyster Film Industry since December 2009; when we first recommended JBF Ind. (@ Rs.99/- in December 2009), after visiting JBF-RAK, Dubai facilities [engaged in Polyster Film manufacturing]. There after in March 2010 we recommended Garware Polyster (@ Rs. 53.50) based on improving realisation for polyster films on month-on-month basis. Again based on further improvement in realisation of Ployster Films we suggested an integrated flexible packaging player UFLEX (@ Rs. 125 in May 2010) which is also a big player in Polyster Film and having global manufacturing facilities also. There after we suggested buying ESTER IND. (@ Rs.30in July 2010). In this trend, our latest recommendation was Polyplex. Since beginning of the year, we are tracking the price realization in this sector along with trends in input cost which are as follows. Now after significant improvement in PET film prices, the trend is percolating down to BOPP films also.
Latest indications suggest that - now the BOPP prices are also likely to go up by Rs.20-22 per Kg soon.

Trend in industry

The latest strong price trend in PET films were surprising and unexpected for industry also, which was expecting a moderate demand growth and modest price improvements. In fact no one bothered to notice and anticipate that - during last three years global crisis, due to demand slump - capacities of appx. 2.5 lakh MTs closed down in Europe, Japan and US due to high costs. This along with superb demand recovery in Asian & Ems [from FMCG & household] and newer usages for Polyster film viz. - in LCD/LED displays, Mobile/I-Pode screens, industrial packaging and expected uses in Solar panels; boosted demand much more then expected. The sudden demand spurt with no commensurate increase in capacities in past, led to sharp spurt in prices of PET films in last 6 months.

Standard PET film prices risen Month on Month basis since Feb'10; as follows - Rs.98/Kg in Feb'10 to Rs.101 March ;Rs.106 April ;Rs. 113 May ;Rs.125, from Mid-June ;Rs.140 in late June and Rs.145 in July'10 & 150 in Aug. Further Rs 25/- per Kg hike in Polyster Film prices were affected from September 2010 taking current prices to Rs 175/-. This suggests that average realization which was Rs.114/ Kg for June'10 Qtr may go up to Rs 145 plus in Sept Qtr and Rs 175/- per Kg in Dec Qtr. So Sept Qtr performance will be extremely good for the industry. (Much much better than June Qtr.) while Dec. Qtr will be superb for this industry. This is so because inputs (MEG & PTA) prices were more or less stable since last eight months, due to abundant supplies in global markets. It means that whole of the incremental growth in revenue is actually added to PBT.

There fore, we are expecting a quantum jump in September quarter PAT [in most cases it will be double or more then double of June quarter PAT]. Further, the Dec Qtr will be still better and it will be at least 50% more then even Sept Qtr PAT. [Apart from better average realization, this qtr may experience some fall in input prices also, as PTA & MEG prices actually fell from Aug-Sept.'10.

Strong cash flow for industry this year, will make their balance sheets much healthier (Reduction in debt burden) going forward and interest burden will come done significantly for the industry as a whole. Considering the overall trend we expect the sector to be re-rated in next couple of quarters, due to extra-ordinary healthy margins, improved debt profile and good growth prospects. Companies may pay liberal dividends and bonuses. [Jindal Poly already announced 1:1 bonus recently. We expect Polyplex to be next in line.]

According to industry sources, the strength in PET films [polyster films] prices will be maintained till Dec.'11; as till then no major capacities will be commissioned, based on present expansion plans of industry. So there is possibility that in next few months' prices may go up further.

As BOPP prices also started firming up now, many players who are also having BOPP capacities along with PET films, will show still better margins.

Our Top Pick

In our view, based on latest price trend, FY'11 EPS estimates for various companies will be as follows:-

POLYPLEX - This is our top pick right now, as the company is having all its manufacturing plants in Tax free regions in India as well abroad. So where as on PBT level all companies may so similar growth, on PAT basis this company will show much better growth. Further its latest expansion in India , commissioned in current financial year, adding more to top line and bottom line. Further, its equity is smallest in sector, while capacity is closer to top producer - jindal Poly. So, in EPS terms, its performance will be superb this year. Based on most latest updates, we expect Polyplex EPS to be close to Rs 300/- in FY'11 [compared to our earlier estimate of Rs 200/- given in report] So, stock is available at just 2X of FY'11 earnings. Finally adding to flavor is - this year is 25th year of company, so in this year of record profits - shareholders can expect liberal special dividend and Bonus from company. Company's AGM is due soon in last week of Sept. Hope
for some good news.......

We continue to be bullish on all other stocks from the sector including our old picks - Garware Poly, Uflex, Ester etc. but definitely our top pick pick will be - Polyplex, which may become star of the sector.

Safe Harbor Statement:

Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.

Nothing in this article is, or should be construed as, investment advice.

[investwise] Anand Rathi Forecasts An FY11 EPS of Rs 300/share for Polyplex

13^th Sept.'10

Why Madness in Packaging film sector......

PACKAGING FILM SECTOR - TREND & TOP PICK

We were bullish on Polyster Film Industry since December 2009; when we first recommended JBF Ind. (@ Rs.99/- in December 2009), after visiting JBF-RAK, Dubai facilities [engaged in Polyster Film manufacturing]. There after in March 2010 we recommended Garware Polyster (@ Rs. 53.50) based on improving realisation for polyster films on month-on-month basis. Again based on further improvement in realisation of Ployster Films we suggested an integrated flexible packaging player UFLEX (@ Rs. 125 in May 2010) which is also a big player in Polyster Film and having global manufacturing facilities also. There after we suggested buying ESTER IND. (@ Rs.30in July 2010). In this trend, our latest recommendation was Polyplex. Since beginning of the year, we are tracking the price realization in this sector along with trends in input cost which are as follows. Now after significant improvement in PET film prices, the trend is percolating down to BOPP films also. Latest indications suggest that - now the BOPP prices are also likely to go up by Rs.20-22 per Kg soon.

Trend in industry

The latest strong price trend in PET films were surprising and unexpected for industry also, which was expecting a moderate demand growth and modest price improvements. In fact no one bothered to notice and anticipate that - during last three years global crisis, due to demand slump - capacities of appx. 2.5 lakh MTs closed down in Europe, Japan and US due to high costs. This along with superb demand recovery in Asian & Ems [from FMCG & household] and newer usages for Polyster film viz. - in LCD/LED displays, Mobile/I-Pode screens, industrial packaging and expected uses in Solar panels; boosted demand much more then expected. The sudden demand spurt with no commensurate increase in capacities in past, led to sharp spurt in prices of PET films in last 6 months.

Standard PET film prices risen Month on Month basis since Feb'10; as follows - Rs.98/Kg in Feb'10 to Rs.101 March ;Rs.106 April ;Rs. 113 May ;Rs.125, from Mid-June ;Rs.140 in late June and Rs.145 in July'10 & 150 in Aug. Further Rs 25/- per Kg hike in Polyster Film prices were affected from September 2010 taking current prices to Rs 175/-. This suggests that average realization which was Rs.114/ Kg for June'10 Qtr may go up to Rs 145 plus in Sept Qtr and Rs 175/- per Kg in Dec Qtr. So Sept Qtr performance will be extremely good for the industry. (Much much better than June Qtr.) while Dec. Qtr will be superb for this industry. This is so because inputs (MEG & PTA) prices were more or less stable since last eight months, due to abundant supplies in global markets. It means that whole of the incremental growth in revenue is actually added to PBT.

There fore, we are expecting a quantum jump in September quarter PAT [in most cases it will be double or more then double of June quarter PAT]. Further, the Dec Qtr will be still better and it will be at least 50% more then even Sept Qtr PAT. [Apart from better average realization, this qtr may experience some fall in input prices also, as PTA & MEG prices actually fell from Aug-Sept.'10.

Strong cash flow for industry this year, will make their balance sheets much healthier (Reduction in debt burden) going forward and interest burden will come done significantly for the industry as a whole. Considering the overall trend we expect the sector to be re-rated in next couple of quarters, due to extra-ordinary healthy margins, improved debt profile and good growth prospects. Companies may pay liberal dividends and bonuses. [Jindal Poly already announced 1:1 bonus recently. We expect Polyplex to be next in line.]

According to industry sources, the strength in PET films [polyster films] prices will be maintained till Dec.'11; as till then no major capacities will be commissioned, based on present expansion plans of industry. So there is possibility that in next few months' prices may go up further.

As BOPP prices also started firming up now, many players who are also having BOPP capacities along with PET films, will show still better margins.

Our Top Pick

In our view, based on latest price trend, FY'11 EPS estimates for various companies will be as follows:-

POLYPLEX - This is our top pick right now, as the company is having all its manufacturing plants in Tax free regions in India as well abroad. So where as on PBT level all companies may so similar growth, on PAT basis this company will show much better growth. Further its latest expansion in India , commissioned in current financial year, adding more to top line and bottom line. Further, its equity is smallest in sector, while capacity is closer to top producer - jindal Poly. So, in EPS terms, its performance will be superb this year. Based on most latest updates, we expect Polyplex EPS to be close to Rs 300/- in FY'11 [compared to our earlier estimate of Rs 200/- given in report] So, stock is available at just 2X of FY'11 earnings. Finally adding to flavor is - this year is 25^th year of company, so in this year of record profits - shareholders can expect liberal special dividend and Bonus from company. Company's AGM is due soon in last week of Sept. Hope for some good news.......

We continue to be bullish on all other stocks from the sector including our old picks - Garware Poly, Uflex, Ester etc. but definitely our top pick pick will be - Polyplex, which may become star of the sector.

Safe Harbor Statement:

Nothing in this article is, or should be construed as, investment advice.

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[investwise] MARG Ltd receives a Rs 150 cr infusion from IDFC in Karaikal Port (WOS)

With reference to the earlier announcement dated April 06, 2010, regarding the receipt of Rs. 700 million towards / Equity / CCPS subscription, Marg Ltd has clarified to BSE that the above investment was made by India Infrastructure Fund (IIF) of IDFC in Karaikal Port Pvt. Ltd., a wholly owned subsidiary Company of MARG Ltd.

Safe Harbor Statement:

Nothing in this article is, or should be construed as, investment advice.

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BSEIndia: All Stock Market News

Monday, September 13, 2010

[investwise] Aravali Securities-7.50 lakh shares change hands...precursor to something big?

[investwise] MS-SOE Banks [1 Attachment]

[investwise] Will Real Estate Stocks Triple In 2011? [1 Attachment]

[investwise] HDIL Goes For The Jugular, Raises $650 mn through QIP

[investwise] Realtors In Delhi, Bombay Might Get In Favour Next (Anand Rathi)

Fwd: Anand Rathi Forecasts An FY11 EPS of Rs 300/share for Polyplex

[investwise] Anand Rathi Forecasts An FY11 EPS of Rs 300/share for Polyplex

[investwise] MARG Ltd receives a Rs 150 cr infusion from IDFC in Karaikal Port (WOS)

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