The bulls have completely taken control of the market with the Sensex and Nifty touching new 52 week highs and USD taking a beating indicating consistent FII flows into the market. Just minutes after Goldman Sachs released its Top 20 Buys in the Indian Stocks earlier today, Deutsche Bank has come with a somewhat very bold report and has pegged the Target for Sensex by 2010 end at a new life time high of 22,000.This is (more…)
Month: April 2010
Buy IRB Infrastructure – CLSA
The Buy recommendations are once again back on the Street. IIFL initiated coverage with a BUY on KSK Energy Ventures and now CLSA Pushed the BUY button on IRB Infrastrcuture. (more…)
India Cement Sector Volumes Grow
Grasim Industries has recorded volume growth of 10% YoY (15% MoM) while Ambuja recorded growth of 12% YoY (+14% MoM) in March 2010. ACC’s volume declined by -3% YoY (+13% MoM). YTD (Apr-Feb), the industry despatch has grown by 11%. Industry dispatch data (more…)
Anil Ambani increases Stake in Reliance Infrastructure
Anil Ambani invested Rs18.2B in Reliance Infrastructure with the conversion of 19.6MM warrants into an equal no. of shares at a
conversion price of Rs929 (10% discount to CMP). The promoter has an additional 23.3MM warrants eligible for conversion at Rs929/share before Nov-10. The move is a reflection of promoter confidence in future growth opportunities in RELI. Conversion of the remaining warrants before Nov-10 could potentially increase promoter stake to 47.7%.
A previous warrant issue in Jan-08 (43MM warrants, conversion price of Rs1,183) was cancelled by the promoter due to weak
stock price and the promoter (more…)