Fw: Sharekhan's top SIP fund picks

 

 

Mutual Gains [October 15, 2010]  Sharekhan www.sharekhan.com

Summary of Contents MUTUAL GAINS Sharekhan's top SIP fund picks We have identified the best equity scheme for SIP investment based on three parameters: Minimum corpus as indicated by at least 10% of the average category-corpus, the past performance as indicated by one, three and five year returns and risk returns ratios namely Sharpe, Information and Sortino.  Sharpe indicates risk-adjusted returns, giving the returns earned in excess of the risk-free rate for each unit of the risk taken. The Sharpe ratio is also indicative of the consistency of the returns as it takes into account the volatility in the returns as measured by the standard deviation.  Information ratio is one of the most important tools in active fund management. It is the ratio of active return (the return over the index return) to active risk annualised. A higher Information ratio indicates better fund manger.  Sortino ratio is similar to Sharpe ratio, except it uses downside deviation. The upward volatility as measured by Sharpe ratio does not lead to losses. It is the downward volatility that leads to losses; hence the use of which doesn't discriminate between up and down volatility. So, higher the Sortino ratio, higher would be the effective return over a period of time. Click here to read report: Mutual Gains Regards, The Sharekhan Research Team myaccount@sharekhan.com

Fw: Sharekhan's top equity fund picks

 

 

Mutual Gains [October 14, 2010]  Sharekhan www.sharekhan.com

Summary of Contents MUTUAL GAINS Sharekhan's top equity fund picks We have identified the best equity-oriented schemes available in the market today based on the following 5 parameters: the past performance as indicated by the one, two and three year returns, the Sharpe ratio and Information ratio. Sharpe indicates risk-adjusted returns, giving the returns earned in excess of the risk-free rate for each unit of the risk taken. The Sharpe ratio is also indicative of the consistency of the returns as it takes into account the volatility in the returns as measured by the standard deviation. Information Ratio is one of the most important tools in active fund management. It is the ratio of active return (the return over the index return) to active risk annualised. A higher Information Ratio indicates better fund manger. Click here to read report: Mutual Gains   Regards, The Sharekhan Research Team myaccount@sharekhan.com

Fw: IPO Note: Coal India Ltd – ‘Maharatna in the making’ - Subscribe

 

IPO Note: Coal India Ltd – 'Maharatna in the making' - Subscribe

Price band Rs225-245

 

Coal India Ltd (CIL) is the best play to ride on the increasing coal deficit in the country. CIL enjoys a near monopoly with a dominant 82% share in domestic coal production and is the world's largest coal producing company. Being one of the lowest cost producers globally (US$16/ton) has enabled it to maintain healthy margins despite selling coal at a huge discount. We estimate OPM to expand 260bps over FY10-12 led by 1) 5.5% CAGR in volumes 2) improving product mix to align with market prices 3) cost savings measures and productivity improvement. These would drive earnings CAGR of 15.1% over FY10-12E.

 

At the upper band of Rs245, CIL would trade at 12.1x P/E and 6.4x EV/EBIDTA on FY12E. Employees and retail investors will be given the benefit of 5% discount on the final price. We believe CIL would trade at a premium, considering the lower earnings volatility, robust balance sheet and large resource base. We recommend 'Subscribe' to the issue with a fair value of Rs300.

 

 

 http://content.indiainfoline.com/wc/research/researchreports/Coal_India_151010.pdf

Fw: High Noon: Wea(e)kly Close

 

 

High Noon [October 15, 2010] Sharekhan www.sharekhan.com

Summary of Contents   PUNTER'S CALL Wea(e)kly Close The Nifty trades in red again breaking 6200 which was its crucial support on the lower side... SMART CHART CALLS     MOMENTUM CALLS   Click here to read report: Highnoon

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Fw: Sharekhan's top equity fund picks

 

Mutual Gains [October 14, 2010]  Sharekhan www.sharekhan.com

Summary of Contents MUTUAL GAINS Sharekhan's top equity fund picks We have identified the best equity-oriented schemes available in the market today based on the following 5 parameters: the past performance as indicated by the one, two and three year returns, the Sharpe ratio and Information ratio. Sharpe indicates risk-adjusted returns, giving the returns earned in excess of the risk-free rate for each unit of the risk taken. The Sharpe ratio is also indicative of the consistency of the returns as it takes into account the volatility in the returns as measured by the standard deviation. Information Ratio is one of the most important tools in active fund management. It is the ratio of active return (the return over the index return) to active risk annualised. A higher Information Ratio indicates better fund manger. Click here to read report: Mutual Gains   Regards, The Sharekhan Research Team myaccount@sharekhan.com

Fw: Eagle Eye: Slippery platform

 

Eagle Eye (equities) [For October 15, 2010] Sharekhan www.sharekhan.com

Summary of Contents   PUNTER'S CALL   Slippery platform The Nifty opened on a positive note but was unable to sustain the gains... SMART CHART CALLS     MOMENTUM CALLS   Click here to read report: Eagle Eye

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