2014 | Dalal Street

Wonderla Holidays – IPO Review / Recommendation

April 21, 2014May 19, 20142 min read

Wonderla Holidays Ltd (Wonderla), founded in 2002, is one of the largest amusement park operators in India promoted by the same promoters as that of V-Guard Industries Ltd. The company, currently, owns and operates two amusement parks under the brand name ‘Wonderla’. The company also owns and operates a resort besides an amusement park in Bengaluru under the brand name ‘Wonderla Resort’, which has been operational since March 2012.

Wonderla has a proven track record of managing amusement parks with established brand equity. The company has been able to maintain high standards of safety and hygiene, which has been able to attract organized visits from schools, colleges and corporate segment.

Wonderla has developed an in-house (more…)

Equity Research

IndusInd Bank Performance above Expectations

April 17, 2014April 18, 20202 min read

Indusind bank reported a strong growth of 29% YoY in PAT, driven by NII growth of 18% YoY and slower growth of 20% YoY in operating cost. Non-interest income growth was strong at 42% YoY, driven by core fee income, forex income and Investment banking fees.

Loan book grows healthy at 24% driven by working capital loans with the corporate loan book, reporting a growth of 38% YoY. CASA improves (more…)

Breaking Corporate India Earnings News

What are the Views of FIIs on Indian Lok Sabha Polls ?

April 12, 20143 min read

Every Opinion Poll in the country points towards a change in the leadership of Indian democracy from “The Accidental Puppet Prime Minister of India” towards a business & progressive Shri Narendra Modi. Here are the various Voice of FIIs who have bet heavily in Indian equities on the back of opinion polls,

UBS in a Report said,

Opinion polls have been the key catalyst for markets, as expected, in 2014. The last ones were released at the end of last week and voting (more…)

Economy, Markets and Macro Views

RBI Favors Gradual Lifting of Gold Import Curbs on Indian Banks

April 10, 20142 min read

The Reserve Bank of India (RBI) has allowed five more banks to import gold to ease the restrictions that have been imposed on the precious yellow metal last year.

The RBI has permitted gold imports by Axis Bank, HDFC Bank, IndusInd Bank, Kotak Mahindra Bank, and Yes Bank.

The 80:20 rule that was imposed on gold last year states that 20% of all gold imports in India have to be re-exported. Under this rule, only (more…)

Equity Research

Implications of Sun Pharma’s Acquisition of Ranbaxy Labs

April 7, 2014April 18, 20201 min read

India’s Leading Generic Drug maker, Sun Pharma announced the $4.0 Bn acquisition of Troubled Ranbaxy Labs from Daiichi Sankyo of Japan. The all share swap merger will give 0.8 Shares of Sun Pharma for 1 Share of Ranbaxy after all the approvals.

Sun’s management has a successful track record of turning around distressed (more…)

Economy, Markets and Macro Views

Industrial Weakness – 5 Years of Stalled Projects by Congress Politicians

April 4, 20142 min read

The Indian Industry went into a prolonged phase of Policy & Project Paralysis as the Congress Government got itself into defensive mood to defend itself against the massive Scams [2G Spectrum Scam, Common Wealth Games, Coal Scam, etc] with absolutely ZERO attentiosn towards Governance and Progressive Reforms. Industrial CAPEX Data released by CMIE March 2014 shows that investment for the quarter was lackluster, with average four quarterly new starts at Rs967bn (-10% qoq / -14% yoy). This capex slowdown is in line with the weakness seen over the past 12 quarters and as we expected given the upcoming national elections. We expect activity to be slow in the quarter ending June 2014 as well and improve only gradually. Government capex fell sequentially (-11%) after increasing over the last two quarters. Private capex showed no signs of revival. The decline was driven off continuing weak activity, particularly in the transport and mining segments.

Stalled projects as a percentage of total outstanding remained at elevated levels of ~5%. Given our expectations of a (more…)

« Prev 1 … 4 5 6 7 8 9 Next »