Posts

Showing posts from November 18, 2007

buy idbi --rs 500 after 2yrs

BHARAT FORGE
“Forging ahead” CMP: Rs 349 Recommendation: BUY Diwali 2008 Target: Rs 395 Despite a slowdown in two of its key markets – Indian automotive and the US CV – and significant Rupee appreciation, BFL registered strong revenue growth of 25% YoY and limited its EBITDA margin contraction to 24.6% (down 150 bps YoY; however, up 420 bps QoQ). After a muted FY08E, we expect an accelerated revenue and net profit CAGR of 14.8% and 28.4% respectively through FY09E-11E, given prospects of business from India and the US, new long-term contracts moving into commercial production stage, initiatives in non-automotive space translating into Rs 1,050 Cr incremental revenues by FY11E and 250 bps margin enhancement over FY09E-11E. The company is also considering foray into the Casting space for the capital goods sector. It is focusing on new growth & high technology areas such as Aerospace, Marine & Rail, Power, Mining & Construction Equipment, and it has already established a new p…

ECE industry can grow 5 times by 2015: McKinsey

India Infoline News Service / Mumbai Nov 15, 2007 17:30 The report states that the industry`s revenue and volume have recorded 40% growth year-on-year between 2004 and 2006, reaching US$2.3bn todayIndian Earthmoving and Construction Equipment (ECE) industry has the potential to grow five-fold from its current size of US$2.3bn to about US$12-13bn by 2015, growing at a CAGR of 24%, says the findings of a study conducted by leading management consulting firm McKinsey & Co. The study named ' ECE Vision 2015: Scaling new heights in the Indian', was carried out for CII and IECIAL and was released yesterday at the CII Excon 2007. The Indian ECE industry is set to experience strong growth, spurred by the country's rapid economic development, according to the McKinsey study. "The McKinsey report states that the industry's revenue and volume have recorded 40% growth year- on- year between 2004 and 2006, reaching US$ 2.3bn today and uncovers a US $40bn opportunity for th…

Jaiprakash Associates vaults on brokerage upgrade

Jaiprakash Associates jumped 13.11% to Rs 1720 after foreign brokerage Merrill Lynch upgraded the company's price target to Rs 1800. Meanwhile the BSE Sensex was down 21.43 points or 0.11% to 19,668.62. On BSE, 4.98 lakh shares were traded on the counter today. The scrip had an average daily volume of 2.46 lakh shares in the past one quarter. Shares of the diversified construction company had hit a high of Rs 1782, an all time high on BSE. The stock hit a low of Rs 1540 so far during the day. It touched a 52-week low of Rs 465 on 7 March 2007. The stock outperformed the market in the one month to 16 November 2007, rising 15.98% as against the Sensex's 9.45% rise. It also outperformed the market in the past three months, advancing 89.63% against the Sensex's 39.29% gain. The company's current equity is Rs 221.69 crore. Face value per share is Rs 10. The current market price of Rs 1720 discounts its Q2 September 2007 annualised EPS of Rs 18.91 by a PE mult…