Indian Equity Research and Investment Strategy
The board of Suzlon Energy has proposed to sub-divide the equity shares of the face value of Rs 10 each in to equity shares with a face value of Rs 2 per share.
Suzlon Energy’s net profit rose 40.27% to Rs 355.58 crore on 32.39% rise in total income to Rs 1,718.73 crore in Q2 September 2007 over Q2 September 2006.
The company’s order book position stands at Rs 16,328.04 crore comprising of Rs 1988.88 crore of domestic orders and Rs 14,339.16 crore of export orders.
Megasoft Ltd reported good set of numbers for the 3Q of CY07; consolidated revenues for the company stood at Rs.768mn, with Visual’s contribution being Rs.180mn. The consolidated PAT stood at Rs.163mn. The company witnessed healthy traction in the telecom products segment and margin improvements across both products and services. (more…)
Satyam Computer’s net profit rose 7.19% to Rs 417.15 crore on 10.75% rise in sales to Rs 1948.24 crore in Q2 September 2007 over Q1 June 2006.
The company revised upwards earnings as well revenue guidance for FY 2008 (year ending 31 March 2008), both in rupee terms and dollar terms. The company forecasts its revenue in fiscal 2008, as per US GAAP, to be between $ 2.07 billion and $ 2.08 billion, implying a growth rate of 41.5% to 42.0% over fiscal 2007. Basic earning per American depository shares (ADS) for fiscal 2008 is expected to be $ 1.24, implying a growth rate of 36.0% over fiscal 2007.
Corresponding revenue growth under Indian GAAP consolidated is expected to be between 26.3% and 26.7%. EPS for the full year is expected to be between Rs 25.0 and Rs 25.1, implying a growth rate of 16.5% – 17.0%.
India’s leading credit rating agency, CRISIL has assigned a CRISIL IPO Grade “4/5” (pronounced ‘four on five’) to the proposed initial public offer of Edelweiss Capital Ltd. This grade indicates that the fundamentals of the issue are above average, relative to other listed equity securities in India.
After the consolidation of Low Cast Carriers in India, the immediate beneficiary is Jet Airways. The domestic passenger and cargo traffic recorded a growth rate of 44.6% and 8.7%, and the international passenger and cargo traffic recorded growth rates of 15.8% and 13.8% respectively during 2006-07. Domestic air travel in India is predicted to grow at 20% over the next five years.
Jet Airways with a fleet size of 80 aircrafts (including JetLite’s 14 aircrafts) is the second largest carrier in India behind the Air India & Indian combined fleet of 132 planes.
The board of Rajesh Exports has decided to subdivide equity shares of Rs 2 each to Re 1 each and to increase the authorized share capital of the company to Rs 30 crore.
The board of Rolta India has recommended the issue of bonus shares in the proportion of one equity share for every one equity share [1:1] held by the members, on a date to be fixed by the board, by capitalizing a part of the general reserve / share premium account.
Kerala Ayurveda has announced that its newly incorporated subsidiary CMS-Katra Holdings LLC, USA has acquired a 51% equity stake in US-based CMS-Katra Nursing LLC, which is acquiring the entire business and assets of CMS Inc, a leading healthcare staffing company based in Florida, USA, with a strong focus in hospitals and other healthcare facilities through placement of credentialed pool of foreign nurses.