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Showing posts from January 6, 2008

Analysts' picks: Patel Engineering, ABG Shipyard

Patel Engineering

CMP: Rs 949.70

Target price: Rs 1,149

Macquarie has maintained an 'outperform' on Patel Engineering after the company announced better-than-expected margins, which made up for marginal disappointment on the topline. "The topline in (third quarter) came in marginally below expectations.

However, EBITDA margins more than made up for the shortfall," said the report, adding, "the company recorded an EBITDA of Rs 592 million (Rs 59.2 crore), up 26% Y-o-Y." According to the brokerage, the company is pre-qualified for Rs 60 billion (Rs 6,000 crore) worth of projects, processing of which is expected in the near term.

The management has indicated that they would bid for orders worth Rs 100 billion over next 12 months, adds the report. The company's order book currently stands at Rs 55 billion (Rs 5,500 crore), 3.4 times trailing 12 months' revenues. The order book number does not include any in-house build-operate-transfer (BO…

value reresearch online artilcle on pipes

Way back in 2000, Ramesh Mansukhani, Chairman, Man Group, had stated
that �with refining capacity on the rise, movement of oil and gas is
expected to gain momentum�. Now, in retrospect, one can see that he
was bang on target. More recently, Indresh Batra, MD, Jindal Saw, was
quoted in the press as saying that "the period between 2008 and 2012
will be the golden period for Indian pipe manufacturers." Look at the
dynamics. Oil and gas companies have certainly earned their place in
the sun. But after the discovery comes the transportation and
movement, so to speak. The anticipated growth in that sector is
naturally expected to translate into higher revenues for the line pipe
manufacturing industry.

Depleting oil reserves have led to an increase in exploration efforts
resulting in more wells. Demand for seamless pipes is directly
proportional to the increase in number of wells. With rising crude oil
prices, control on oil transportation cost is gaining more prominence.
The share of pipelin…

Aries Agro surges on debut

Aries Agro was trading at Rs 190 at 10:00 IST on BSE, a premium of 46.15% over the IPO price of Rs 130. The stock debuted at Rs 150, a premium of 15.38% over the IPO price. The stock touched a high of Rs 206 and a low of Rs 150 so far during the day. On BSE, 16.77 lakh shares were traded in the scrip. At the current price of Rs 190, the PE multiple works out to 28.35, based on the year ended EPS of Rs 6.7. The company had fixed the IPO price at the top end of the Rs 120 - Rs 130 price band. The Aries Agro IPO had closed on 19 December 2007 with 7.62 times subscription. The qualified institutional investors (QIB) portion was subscribed 0.88 times, the non-institutional investors segment 2.37 times and the retail portion 0.46 times. Aries Agro is engaged in the manufacture of agricultural products. It operates in five categories that are multi-micro nutrient fertilizers, chelated micro nutrient fertilizers, specialty soluble fertilizers and anti-bacterial products for agri…

Ispat Industries strengthens

Ispat Industries gained 3.62% to Rs 71.55 at 12:05 IST on BSE on reports that it may offload around 25% stake in its wholly-owned subsidiary Ispat Energy, to private equity funds to raise around Rs 800 crore. The BSE Sensex was up 180.94 points, or 0.87%, to 21,045.31. On BSE, 88.15 lakh shares of the scrip were traded. The stock had an average daily volume of 2.16 crore shares on BSE in past one quarter. The scrip had touched a high of Rs 73.95 and low of Rs 70.25 so far during the day. The stock had hit a 52-week high of Rs 87.40 on 20 December 2007 and 52-week low of Rs 10.61on 3 January 2007. The scrip had underperformed the market over the past one month till 9 January 2008, declining 1.78% as compared to the Sensex's return of 2.85%. However, it outperformed the market in the past one quarter, surging 130.38% as compared to the Sensex's rise of 10.93%. India's fifth largest steel company in terms of sales has an equity capital of Rs 1222.44 crore. Face …

Reliance Power: Is The Management Being Vilified For Substantive Reasons?

By Mid January 2008, India's largest IPO till date, the Rs 11500 crore Reliance Power IPO would have opened, and though CNBC and its leadership have been at the forefront of a campaign to avoid the issue, a closer look might suggest beneficiaries lie elsewhere and so the Issue must be successful. -7000 MW of Power Generating Capacity proposed by Reliance Power will cost Rs 28,000 to Rs 30,000 crore ande become available by 2011. -Overall Capacity of Reliance Power Will rise to 26000 MW by 2016, and cost Rs 104,000 crore. -Beyond the Equity element of Rs 11500 crore, Banks and FIs will fund the balance Rs 90,000 crore as Debt. If CNBC is to be believed, then all Banks should have substantial NPAs and possibly close by 2016. So why should we not pull out all our money and stuff under the mattress. -In a Power Gen project, 95 per cent of the Investment goes into land rest into Equipment. Here we are talking of a collective order book for Siemens, Alstom, Bhel and ABB of the mag…

Stock-split proposal powers Emco &bliss gvs

Emco surged 6.18% Rs 1529 at 10:05 IST on BSE, after the company said its board will consider stock split at a meeting to be held on 17 January 2008. The company made this announcement after trading hours on Tuesday, 8 January 2008. Meanwhile, BSE Sensex was down 12.66 points to 20,860.67. On BSE, 508 shares were traded in the counter. The stock had an average daily volume of 15,509 shares in the past one quarter. The stock hit a high of Rs 1565 and a low of Rs 1460 so far during the day. The stock hit a 52-week high of Rs 1629 on 31 December 2007 and a 52-week low of Rs 712.05 on 11 January 2007. The mid-cap scrip had outperformed the market over the past one month till 7 January 2008, gaining 7.48% as compared to the Sensex's return of 4.24%. It had also outperformed the market in the past one quarter, rising 27.21% as compared to the Sensex's rise of 13.85%. The company's current equity is Rs 10.54. Face value per share is Rs 10. The current price of Rs …

Karuturi Networks Ltd considers stock split

Karuturi Networks Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on January 30, 2008, inter alia, to consider the following business:

1. To take on record the financial results of the Company for the quarter ended December 31, 2007.

2. To consider stock split.

3. To enhance Borrowing powers of the Board.

4. Hiving off business operation into wholly owned subsidiaries.

5. Dropping the phrase "Networks" from Karuturi Networks Ltd.

6. Appointment of Additional Director's.



Marksans Pharma gains on stock split proposal

Marksans Pharma gained 2.55% Rs 342.10 at 14:14 IST on BSE, after the company said its board will consider stock split at a meeting to be held on 25 January 2008. The company made this announcement during trading hours today, 8 January 2008. Meanwhile, BSE Sensex was down 48.84 points or 0.23% to 20,763.81. On BSE, 3.37 lakh shares were traded in the counter. The stock had an average daily volume of 2.49 lakh shares in the past one quarter. The stock hit a high of Rs 348.80 and a low of Rs 317.20 so far during the day. The stock hit a 52-week high of Rs 351.60 on 4 January 2008 and a 52-week low of Rs 44.20 on 14 June 2007. The mid-cap scrip had outperformed the market over the past one month till 7 January 2008, gaining 94.52% as compared to the Sensex's return of 4.24%. It had also outperformed the market in the past one quarter, rising 184.28% as compared to the Sensex's rise of 13.85%. The company's current equity is Rs 35.94. Face value per share is Rs 1…

HMT in top gear on buzz of F&O entry

HMT was locked at upper limit of 5% at Rs 163.50 at 12:28 IST on BSE on buzz the stock may be included in the futures and options segment of NSE. The BSE Sensex was up 152.43 points, or 0.72%, to 20963.27. On BSE, 13.97 lakh shares of the scrip were traded. The stock had an average daily volume of 4 lakh shares on BSE in past one quarter. The scrip had touched a high of Rs 163.50, its all time high. The stock hit a low of Rs 148.10 so far during the day. The stock had hit a 52-week low of Rs 50 on 17 October 2007. The scrip had outperformed the market in the one month to 7 January 2008, adding 58.44% as against the Sensex's 4.24% rise. It had also outperformed the market in the past three months, soaring 163.09% against the Sensex's 13.85% rise. The state run tractor maker has an equity capital of Rs 517.90 crore. Face value per share is Rs 10. Typically, stocks that enter the futures and options (F&O) segment are expected to gain ground due to improved liqu…

Future Capital to raise Rs 490 cr through IPO

MUMBAI: Future Capital Holdings Ltd, the financial services arm of Future Group, will enter the capital market with an Initial Public Offering of 64.22 lakh shares to raise about Rs 490 crore.

The issue will open for subscription on January 11 in a price band of Rs 700-765 and will close on January 16.

Future Capital Holdings Ltd (FCHL) will get listed on the first week of February, Future Group CEO Kishore Biyani told reporters here today.

The proceeds of the issue would be deployed against its consumer credit business called Future Money launched in June 2007, he said.

On the issue price, Future Capital Holding CEO and Managing Director Sameer Sain refuted reports that it was being quoted in a higher price band.

"Pricing is not at the higher end and after the IPO, many retailers would follow us," he said.

The issue would constitute 10.16 per cent of the post-issue paid-up capital of the company.

At least 60 per cent of the issue shall be allocated to Qualifie…

Kohinoor Broadcasting Corporation firmly in the picture

Kohinoor Broadcasting Corporation was locked at upper limit of 5% to Rs 19.80 at 14:13 IST on BSE after its board approved buying Tagore Theatres, valued at about Rs 100 crore.. The BSE Sensex was up 145.59 points, or 0.72%, to 20835.48. On BSE, 15.84 lakh shares of the scrip were traded. The stock had an average daily volume of 12.80 lakh shares on BSE in past one quarter. The scrip is currently trading at a 52-week high. It touched a low of Rs 19 so far during the day. The stock had hit a 52-week low of Rs 4.50 on 6 March 2007. The scrip had outperformed the market in the one month to 4 January 2008, adding 89% as against the Sensex's 4.50% rise. It had also outperformed the market in the past three months, soaring 84.93% against the Sensex's 16.39% rise. The small-cap entertainment firm has an equity capital of Rs 110.21 crore. Face value per share is Rs 10. At the current price of Rs 19.80, the scrip trades at a PE multiple of 38.07, based on Q2 September 20…

New order towers Parsvnath Developers

Parsvnath Developers advanced 8.09% Rs 571.90 at 13:00 IST on BSE, after the company said it has received an order worth Rs 90 crore from Shirdi Sai Trust, Chennai for construction of Sai Ashram at Shirdi in Maharashtra. The company made this announcement during trading hours today, 7 January 2008. Meanwhile, BSE Sensex was up 34.66 points or 0.17% to 20,721.55. On BSE, 25.67 lakh shares were traded in the counter. The stock had an average daily volume of 4.04 lakh shares in the past one quarter. The stock hit a high of Rs 598 so far during the day, which is a record high. The stock touched a low of Rs 515 so far during the day. The stock hit a 52-week low of Rs 221.60 on 7 March 2007. The mid-cap scrip had outperformed the market over the past one month till 4 January 2008, gaining 38.56% as compared to the Sensex's return of 4.50%. It had also outperformed the market in the past one quarter, rising 46.22% as compared to the Sensex's rise of 16.39%. The compan…

L&T builds on new order win

Larsen & Toubro rose 0.72% Rs 4275 at 12:03 IST on BSE, on securing two major contracts from Cairn India for the construction of civil works and the consolidated construction works of Cairn's project located near Barmer in Rajasthan. The company made this announcement during trading hours today, 7 January 2008. Meanwhile, BSE Sensex was up 114.47 points or 0.55% to 20,801.36. On BSE, 1.07 lakh shares were traded in the counter. The stock had an average daily volume of 2.98 lakh shares in the past one quarter. The stock hit a high of Rs 4292 and a low of Rs 4190.20 so far during the day. The stock hit a 52-week high of Rs 4670 on 1 November 2007 and a low of Rs 1374.90 on 5 March 2007. The large-cap scrip had underperformed the market over the past one month till 4 January 2008, declining 1.26% as compared to the Sensex's return of 4.50%. It had outperformed the market in the past one quarter, rising 37.39% as compared to the Sensex's rise of 16.39%. The…