October, 2008 | Dalal Street

Companies List with Stock Price Less Than Cash / Share on Books

October 24, 20081 min read

We are presenting to you the list of companies from BSE-500 which are quoting below the Cash Price / Share in the Books of Accounts.

Company Name Stock Price Cash/Share
Aftek Ltd. 16 32.43
Allahabad Bank 53.1 157.65
Alok Industries Ltd. 17.75 86.56
Andhra Bank 51.15 117.41
Bank Of Baroda 273.55 636.08
Bank Of India 256.45 338.95
Bank Of Maharashtra 27.35 98.16
Bharati Shipyard Ltd. 79.45 82.33
Canara Bank 174.05 442.04
Central Bank Of India 40.25 317.70
Corporation Bank 227.2 621.57
Federal Bank Ltd. 150.75 160.31
Gitanjali Gems Ltd. 105.3 132.02
Hinduja Ventures Ltd. 109.55 145.49
I C I C I Bank Ltd. 365.55 407.17
I D B I Bank Ltd. 68.3 121.26
I F C I Ltd. 22.95 45.67
I N G Vysya Bank Ltd. 180.65 310.66
I V R Prime Urban Developers Ltd. 47.25 56.10
Indiabulls Financial Services Ltd. 106.8 284.25
Indiabulls Securities Ltd. 26.05 42.90
Indian Bank 135.5 157.60
Mercator Lines Ltd. 33.3 36.15
Prithvi Information Solutions Ltd. 38.5 120.49
Punjab National Bank 473.1 609.82
Ruchi Soya Inds. Ltd. 40.75 50.82
State Bank Of India 1324.3 1,402.29
Syndicate Bank 60.1 223.33
Vijaya Bank 31.5 37.25

Economy, Markets and Macro Views

BSE Sensex Forward P/E at Lowest Level

October 24, 20081 min read

If you have been a regular reader here, you would have noticed by now that we always believe in “VALUATIONS”. Just to enlighten our readers, we are presenting Historical BSE SENSEX Forward P/E Chart from 1990 through Sept-2008. The Forward P/E is quoting at its lowest level ever as shown below.

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Breaking Corporate India Earnings News

ECB Norms revised yet again

October 23, 20081 min read

In a bid to attract capital flows, policy makers have further relaxed norms for ECBs – this is the third time in the last few weeks. Key measures include:

Permitting companies to bring back the entire US$500mn for rupee expenditure (this was earlier limited to US$100mn for infrastructure companies and US$50mn for corporates).
Corporates who had already raised ECBs, but were prohibited by earlier guidelines to bring funds in for domestic use, can now bring these onshore. This may have some impact on near-term inflows.
The minimum avg maturity period of 7 years for ECBs of over US$100mn for rupee expenditure by the infrastructure sector has been dispensed with.
For telecom companies, payment to obtain licenses for 3G spectrum is now considered an eligible end-use norm for ECBs.

Since the intensification of the financial crisis, there have been coordinated policy measures to infuse liquidity and stem growth deceleration.

Economy, Markets and Macro Views

Market Fundamentals + Outlook – Start Buying

October 23, 20082 min read

This is the last post in the series. You can read the first two here. Historical Bear market Returns in India and Concerns / Risks the Indian market offers and how they are mitigated.

Domestic Fundamentals:
Household savings are at a robust 35% of the GDP and consumers in India are highly under leveraged at 8% of the GDP compared to 13% in Thailand, 26% in Malaysia, 36% in Taiwan and 58% in Korea. Over the years Indians have amassed huge wealth in Gold and equity market investments, which has a wealth effect. (more…)

Equity Research

NIIT Technologies + Mphasis – Review

October 22, 20082 min read

NIIT Technologies reported a steady 2QFY09 with 5% Q/Q revenue growth, 4% volume growth and 80 bps Q/Q EBITDA margin decline due to salary hikes. EPS grew 5% Q/Q. Growth was driven by good performance of Room Solutions where revenues increased 17% Q/Q and EBITDA margins bounced 300 bps Q/Q. Performance was good across service lines and industry verticals with 5 new customer additions and US$ 75 of new order wins. (more…)

Economy, Markets and Macro Views

Indian Markets Concerns / Risk and Mitigation

October 22, 20082 min read

This is the second post in the series of three on why one can dare to BUY the Indian market now. If you have not already read the first part, its here – Historical Returns in India after Bear market.

As an Indian investor what are the prime concerns weighing (more…)

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