CP | Dalal Street

Equity Research

Hindustan Construction – Improving P&L and Balance Sheet

September 23, 20092 min read

HCC’s order backlog as at September 1, 2009 is at Rs163bn implying Rs8bn of order inflows in F2Q10. The company has shifted its strategic focus to the high margin hydropower and water solutions segments and expects an improvement in its margins to 12-13%. The recent QIP raising of Rs4.8bn has helped the company improve its debt/equity ratio. Management indicated that it also expects its working capital cycle to compress.

HCC is developing the 12,500-acre Lavasa project, phased over 13 years (2008-21). Planned for a permanent population of 200,000 and a tourist inflow envisaged at two million p.a., Lavasa presently has about 6msf under development (12-13msf sold) with its first town, Dasve, scheduled to be operational by 2010. (more…)

India IPO Reviews and Updates

OIL – Allotment + Application Status

September 22, 20091 min read

We have just a while ago received a Fax from OIL India headquarters which has finalized the basis of Allotment for its recently concluded IPO for which we had a SUBSCRIBE recommendation.

Applicants applying for 6 shares have been allotted in the ratio of 25:28. All applicants who applied for more than 6 shares have been allotted on a firm basis as shown in the chart below. (more…)

India IPO Reviews and Updates

Thinksoft Global Services Review

September 19, 20092 min read

Thinksoft Global Services Ltd, established in the year 1998, is engaged in the business of financial and insurance software Testing and Documentation.

Currently, 63% of TGSL’s revenues come from onsite activities where margins are less compared with the same work being outsourced. Going forward, the company plans to actively focus on offshore work and is targeting an onsite to offsite mix of 55:45. With demand of more standardized products for SME, the Company has developed specialized service offerings to meet their needs. (more…)

Breaking Corporate India Earnings News

Inflation Back to Positive

September 17, 20091 min read

The heavily flawed [manipulated to have outdated articles to keep the number Low] Inflation Number is back in Positive indicating aggressive price rise by even Industrial commodity while the Government is a mere spectator.

For the week ending 5 Sep ’09, headline inflation (the wholesale price index, WPI) stood at 0.12%. Inflation for the week ending 11 Jul ’09 was revised to -0.63% (from -1.17%).

The rise in food prices since Mar-09 is the main reason for the return of inflation. All the major food articles, such as cereals, pulses, fruits, vegetables, milk, non-vegetarian articles, condiments and spices, continued to move up. Food products (components of manufactured products) moved up due to the rise in prices of grain mill products and sugar.

As expected, the wholesale price index returned to inflation due to the continuous rise in food prices. Looking forward, we expect food prices to move up due to the start of the festive season in October. WPI inflation could cross 7% by end March 2010.

Equity Research

SELL Reliance Power – Glodman Sachs

September 16, 20092 min read

In a daring report published by Goldman Analyst has come forward and still recommnds a SELL on Reliance Power. Goldman believes financial risk has been mitigated to some extent, we think risks relating to fuel, land and offtake of output still exist for several RPWR key projects. Retain Sell with 22% potential downside, as valuations do not reflect risks for its key projects, in our view. (more…)

Economy, Markets and Macro Views

Current State of Indian Economy

September 15, 20091 min read

I found this slide in one of the presentations by Citigroup and thought will share it with you. This depicts the current state of Indian Economy. (more…)

« Prev 1 … 105 106 107 108 109 … 476 Next »