sharekhan ValueGuide: Volatility gets an extension

Investment Insights

Our regular features on investments and equity picks for our investors.

FROM SHAREKHAN'S DESK Volatility gets an extension It has been a sombre beginning for this equity market this year. The benchmark index registered a double-digit decline over the past one month even as the equities markets rallied globally. In the year to date India is the second worst performing market globally with Egypt being the worst. Our market dropped on macro-economic concerns of persistently high inflation, hardening of interest rates and an unexpected sharp slowdown in the industrial production. Even though corporate earnings for Q3FY2011 were largely in line with expectations, the market witnessed earnings downgrades in several companies across sectors on account of concerns related to margin pressure from the rising raw material cost and spiraling energy prices. The eruption of social unrest in Egypt and some other countries in the neighbouring region towards the end of the month added to the market?s woes. Given the global concerns and certain India-specific issues, the foreign institutional investor (FII) flows reversed with the foreign investors withdrawing close to one billion dollars in January 2011 alone. SHAREKHAN TOP PICKS Sharekhan top picks STOCK IDEA NIIT Technologies: Creating its own differentiated strategy STOCK UPDATE Ashok Leyland: Price target revised to Rs84 Bajaj Holdings & Investment: Price target revised to Rs1,042 Bank of Baroda: Price target revised to Rs998 Bharat Heavy Electricals: Price target revised to Rs2,781 Cadila Healthcare: Strong results; in line with estimates Corporation Bank: Price target revised to Rs735 Eros International Media: Stellar performance Greaves Cotton: Full throttle to continue HCL Technologies: Price target upgraded to Rs622 Hindustan Unilever: Price target revised to Rs246 Housing Development Finance Corporation: Higher treasury income drives PAT growth ICICI Bank: Price target revised to Rs1,190 Infosys Technologies: Upgraded to Buy Ipca Laboratories: Improvement in operating margins?key monitorable IRB Infrastructure Developers: Price target revised to Rs285 ITC: Price target revised to Rs207 JB Chemicals & Pharmaceuticals: RoW to drive growth Kewal Kiran Clothing: Robust performance?led by volume and realisation Larsen & Toubro: Upgraded to Buy Marico: Price target revised to Rs140 Orient Paper and Industries: Upgraded to Buy Polaris Software Lab: Intellect going strong, margins concerns remains? Punjab National Bank: Price target revised to Rs1,460 Reliance Industries: Q3 performance meets estimates State Bank of India: Price target revised to Rs2,990 Tata Consultancy Services: Impressive margin performance Thermax: Upgraded to Buy on correction Torrent Pharmaceuticals: Q3 results in line with estimates UltraTech: Cement Results ahead of estimates United Phosphorus: Price target revised to Rs218 V-Guard Industries: Price target revised to Rs237 Yes Bank: Result in line with expectations THE STOCK IDEAS REPORT CARD SHAREKHAN SPECIAL Monthly economy review MUTUAL GAINS Sharekhan?s top equity fund picks SECTOR UPDATE Non-banking Financial Company: Regulation to limit profitability in MFI sector VIEWPOINT Exide Industries: Short circuit Shopper's Stop: Strong performance; but priced in Earnings Guide

Trader's Techniques

Get in-depth technical research and hot opportunities in the equities, derivatives and commodities markets.

Sensex: Bottom fishing Crude: Heating up Tumeric: Near Crucial Support Derivative view: A dismal start

Commodities Corner

Get view on the buzzing commodities from our fundamental research team.

Copper?an correct lower before charging to Rs500 level

PMS Products

Get view on the PMS products and their performance from our fundamental managers.

ProPrime ProTech

Premier Ideas

Sift through the collection of model portfolios to evaluate your investment and trading strategies.

Smart Trades Ideas Nifty Ideas Derivatives Ideas Click here to read report: Sharekhan ValueGuide Source:Sharekhan

Sarthak Industries Ltd: Financial Results for Dec 31, 2010

Sarthak Industries Ltd has informed BSE about the Financial Results for the Quarter ended December 31, 2010.Read More

Goenka Diamond & Jewels Ltd: Financial Results for Dec 31, 2010

Goenka Diamond & Jewels Ltd has informed BSE about the Financial Results for the Quarter ended December 31, 2010.Read More

Arihants Securities Ltd: Financial Results for Dec 31, 2010

Arihants Securities Ltd has informed BSE about the Financial Results for the Quarter ended December 31, 2010.Read More

Kemrock Industries and Exports Ltd: Disclosures under Reg.13(6) of SEBI (Prohibition of Insider Trading) Regulations, 1992

Kemrock Industries and Exports Ltd has submitted the disclosure under Regulation 13(6) of the SEBI (Prohibition of Insider Trading) Regulations, 1992 to BSERead More

Pankaj Polymers Ltd: Board Meeting on Feb 14, 2011

Pankaj Polymers Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on February 14, 2011, inter alia, to consider the following:

1. Un-audited Financial Results and the Segment Report of the Company for the Third Quarter ended December 31, 2010.

2. To evaluate restructuring options including de-merger of the PP Disposable Segment business of the Company into a separate Company.

Mahindra Lifespace Developers Ltd: Financial Results for Dec 31, 2010

Mahindra Lifespace Developers Ltd has informed BSE about the Financial Results for the Quarter ended December 31, 2010.Read More

Sakthi Finance Ltd: Financial Results for Dec 31, 2010

Sakthi Finance Ltd has informed BSE about the Financial Results for the Quarter ended December 31, 2010.Read More

Natraj Proteins Ltd: Financial Results for Dec 31, 2010

Natraj Proteins Ltd has informed BSE about the Financial Results for the Quarter ended December 31, 2010.Read More

Aurobindo Pharma Ltd: Announces Q3 results

Aurobindo Pharma Ltd has announced the following Unaudited results for the quarter ended December 31, 2010:

The Company has posted a net profit of Rs 1838.50 million for the quarter ended December 31, 2010 as compared to Rs 1482.60 million for the quarter ended December 31, 2009. Total Income has increased from Rs 8131.50 million for the quarter ended December 31, 2009 to Rs 11576.60 million for the quarter ended December 31, 2010.

The Consolidated Results are as follows

The Unaudited results for the quarter ended December 31, 2010:

The Group has posted a net profit of Rs 1886.30 million for the quarter ended December 31, 2010 as compared to Rs 1717.70 million for the quarter ended December 31, 2009. Total Income has increased from Rs 9252.50 million for the quarter ended December 31, 2009 to Rs 11980.80 million for the quarter ended December 31, 2010.Read More