Sensex

Thursday, September 23, 2010

**[investwise]** Marg Limited-Does Ownership Make A Difference?

 

1  Citigroup Global Markets Mauritius Pvt Ltd 2,151,816  6.53 
2  Reliance Capital Trustee Co Ltd - Reliance Infrastructure Fund 2,107,000  6.40 
3  Kotak Global Funds 652,720  1.98 
4  Frontpoint Financial Horizons Fund L.P. 1,306,826  3.97 
5  GMO Emerging Lliquid (Mauritious) Fund 489,800  1.49 
6  Indiaman Fund (Mauritius) Ltd 461,230  1.40 
7  Broadcom Ltd 1,118,193  3.40 
8  India Equity Growth Fund Ltd 450,000  1.37 
9  Merrill Lynch Capital Markets Espana S.A.S.V 526,648  1.60 
 Total 9,264,233  28.13


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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Posted by nsivaa at 10:18 PM 0 comments

**[investwise]** Buy Equities-Russell Napier (CLSA) [1 Attachment]

 
[Attachment(s) from Maverick included below]

 
FYI

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.
 
 
 
 
 

__._,_.___

Attachment(s) from Maverick

1 of 1 File(s)

EquitiesWayToGo-Napier.pdf
Recent Activity:
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INVESTMENTS IN INDIA
We are low-risk, long-term investors. 

Stocks, mutual funds and the entire investment gamut.  Only financing/investment avenues in India will be discussed. 

For any assistance, questions or improvement ideas, contact investwise-owner@yahoogroups.co.in

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Posted by nsivaa at 9:30 PM 0 comments
Zee Entertainment - Board recommends Final Dividend & Bonus Issue  
Zee Entertainment Enterprises Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 23, 2010, inter alia, has considered the following:
1. Allotted 4,413,488 Equity Shares of Re. 1 each of the Company to the Shareholders of ETC Networks Ltd (other than the Company) as on the ...

Dabur India - Issue of Bonus Stock Options 
Dabur India Ltd has informed BSE that in view of the Bonus issue by the company in the ratio of 1:1, i.e. one new equity share of Re. 1 each for every one existing share of Re 1 each, the Remuneration cum Compensation Committee has adjusted the size of all the outstanding grants made to employees in pursuance of ESOS 2000 by issuing 97,13,625 bonus stock options in the ratio of 1 : 1 to all the employees holding unvested stock ...

FortisFTP S15A RP D - Dividend Rate  
'Fortis Fixed Term Plan - Series 15A - Regular Plan - Dividend' has informed BSE about actual rate of dividend of Rs. 0.7789 per unit to be distributed for the scheme on the record date.

Inani Marbles - Board recommends dividend  
Inani Marbles & Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 31, 2010, the Board has declared Final Dividend @ 10% being Rs 1.00 per share for the Financial Year 2009-2010 subject to approval at the A.G.M.
Posted by nsivaa at 7:13 AM 0 comments

**[investwise]** C&C Construction-BUY with a 12 month target of Rs 350 [1 Attachment]

 
[Attachment(s) from Maverick included below]

C&C has ownership of critical high end and modern construction equipment such as crushers, excavators, cranes, batching plants, pavers, etc. Ownership of such high end equipment enables quick mobilization besides ensuring continuous availability of critical equipment.

 

This ownership model of equipment aids C&C in Afghanistan by giving it an edge over competition.

 

C&C is developing road projects worth `1,500 crore in Bihar, three road projects, including Yamuna Expressway contract in UP and six parking lots in Delhi to accommodate up to 300 vehicles each in preparation of the upcoming Commonwealth Games. Afghan Project in the books currently having 2 projects one funded by India (parliament and consulate) and another by US.

 

At present, the company is executing projects worth `3,000 crore projects (bill to book of 2.6x), 11 per cent of which is based in Afghanistan while the rest comes from India. Afghan Parliament work order is one of the prime contracts the company is executing in Afghanistan.

 

The 53% is from roads & highways, 27% from buildings, 14% railways, 5% from water & sewerage and 1% from transmission. C&C is expanding its footprint in various Asian economies and are targeting projects worth about `8,000 crore in the next six months.

 

With this motive in the mind, C & C has signed MoU with Isolux Corsan of Spain to jointly execute construction projects across a series of verticals. In the JV, the Indian firm will hold a 40 per cent stake and the remaining equity will be held by the Spanish company. With this, the company has strengthened its international presence.

 

In the near future, C&C is planning bids for projects worth $1200 million (`5,595 crore) in Oman, Kuwait and Afghanistan to enhance its overseas presence. Bids for `10, 000 crore in India are either in PQ or various other stages of tendering process.

 

C & C expects to bag orders worth about `2, 500 crore at least. For its immediate Capex, C&C has raised over `177 crore through a combination of promoter warrants, private equity and a QIP. Of which about `50 crore raised from promoters at a price of `253 and `76.87 crore via QIP at `243.80. The balance is raised through PE under which it allotted 50 crore CCPS of `10 each on July 2010 to IL&FS Trust Company acting as sole trustee for India Venture Trust.

 

ILFS conversion price is linked to profits of C & C in the coming year. C&C expects the conversion price of about `300-310 at the end of 18 months.

 

As per the Union Budget 2010-11, allocation for infrastructure projects for the ensuing fiscal is `1, 73,552 crore ($38.5 billion) since good roads, ports and railways are essential to sustain growth. In the next Five Year Plan (2012-17), India will need double the investment of $500 billion that will go into infrastructure development in current plan period.

 

Preliminary exercises suggest investment in infrastructure will have to expand to $1 trillion in the 12th Five Year Plan.

 

C&C is likely to post an EPS of `34 in FY11 and `42 in FY12. At the CMP of `250, the share is trading at a P/E of 7.4x on FY11E and 6.0x on FY12E. We recommend BUY with a target of  Rs 350 in the medium term.

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.
 
 
 
 
 

__._,_.___

Attachment(s) from Maverick

1 of 1 File(s)

C&C.pdf
Recent Activity:
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INVESTMENTS IN INDIA
We are low-risk, long-term investors. 

Stocks, mutual funds and the entire investment gamut.  Only financing/investment avenues in India will be discussed. 

For any assistance, questions or improvement ideas, contact investwise-owner@yahoogroups.co.in

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NEW! ==== Check our LINKS and FILES sections for a world of information. REGULARLY UPDATED.

NEW! ==== Check "Tracklist" in Links and Files sections for Investment Ideas.

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Posted by nsivaa at 1:52 AM 0 comments

**[investwise]** CCL Products-BUY

 

CCL Products-The Taste Of Coffee

CCL is in the business of converting raw coffee beans into instant coffee granules/powder. CCL is not only India's largest coffee processor; it has world's largest single location plant and is amongst the top 3 private label instant coffee manufacturers with clients across the globe.

While prima facie it looks like a commodity conversion business; but unlike tea or other commodities, coffee processing is a specialists job as the flavor and consistency has to be maintained batch after batch irrespective of the input quality or grade. Not many companies
have been successful in doing this and hence, globally, coffee has very little
competition and highly profitability.

Over FY08-09, CCL undertook a ` 100crs capex plan to expand its capacity from 14,000 tonnes to 22,000 tonnes. This expansion got completed in December 2009 via debt and internal accruals. In FY2010, CCL achieved sales volumes of close to 8,500 tonnes, thus indicating that it can easily double its turnover without any additional capex.

The new facility has a 5,000 tonnes liquid concentrate plant and a 3,000 tonnes brown field plant in Switzerland. Liquid instant coffee commands 25% plus premium over normal instant coffee. Additionally, the Swiss facility will enable CCL to brand its products as "Made in Switzerland" and this branding will entitle it to premium pricing in the EU nations. Hence with raw material costs expected to remain the same, CCL is in a position to improve upon its margins in the medium-to-long-term.

We believe that our assumptions are not aggressive as for FY2011 we have assumed incremental volume sales of 3,500 tonnes of which 3,000 tonnes will come in from the new facilities itself. For the base business, we have assumed margins to remain steady and overall margins are expected to improve primarily due to the commissioning of the Switzerland facility.

CCL, with the help of a 5-decade experienced management team, operates a high margin low working capital intensive business at a global scale. It is estimated that global consumption of instant coffee is in excess of 300,000 tonnes and is steadily growing in low single digits. With world class facilities and India's cost advantage, CCL should be able to increase its current 3% market share.

High entry barriers, low capital intensity, high profitability and low valuations make CCL an ideal re-rating candidate with the potential to trade in the 8x-10x P/E band over the next 2-3 years.

This effectively means that at the lower end of the expected valuation band, CCL could trade at a price of ` 592 (up 123%) and at the upper end of the valuation price band, the stock could be valued at about ` 740 (up 178%) over the next 2-3 years.

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.
 
 
 

 
 

__._,_.___
Recent Activity:
*****************************************
http://in.groups.yahoo.com/group/investwise/

INVESTMENTS IN INDIA
We are low-risk, long-term investors. 

Stocks, mutual funds and the entire investment gamut.  Only financing/investment avenues in India will be discussed. 

For any assistance, questions or improvement ideas, contact investwise-owner@yahoogroups.co.in

****************************************************************

NEW! ==== Check our LINKS and FILES sections for a world of information. REGULARLY UPDATED.

NEW! ==== Check "Tracklist" in Links and Files sections for Investment Ideas.

****************************************************************
.

__,_._,___
Posted by nsivaa at 1:14 AM 0 comments
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