Indian Equity Research and Investment Strategy
The board of Orient Information Technology has approved the proposal of amalgamation/merger of the company with IT People (India) and made appointment of Gadgil & Co, chartered accountants, as the valuers for the purpose of valuation of the company.
This was approved at the board meeting held on 20 October 2007.
Asian Paints reported 49% increase in 2QFY08 profit (pre exceptionals), domestic growth (13% YoY) seems to be slowing down. On the positive side, margins expanded 258bps.Management has indicated that there is a slowdown in domestic construction activity which has impacted paint sales.
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Indiainfoline Equity Research recommends a BUY in Great Offhsore Ltd with a price Target of Rs 1,029. Key points for the recommendation are as follows,
Great Offshore Ltd (GOL) reported 19.9% yoy growth in net sales to Rs1,523mn in Q2 FY08 as against Rs1,271mn in Q2 FY07. The jump was primarily on account of higher number of vessels operational. Other income jumped from Rs9mn in Q2 FY07 to Rs173mn in Q2 FY08 on account of implementation of AS-11 with effect from April 1, 2007. (more…)
HSBC – The World’s Local Bank has customized offering of Mutual Fund SIPs in India. This a very innovative scheme and HDFC and Reliance Mutual Funds should also launch such schemes.
Here is the details that we received from HSBC.
Kindly contact HSBC for further details of feedback @ dalalstreet.biz.
Stocks that ShareKhan likes at current level of market (Nifty 5233 # Sensex 17,640) purely from delivery and investment point of view (more volatility is possible over next few days so one should keep 50% – 70% amount aside to buy at lower levels and actually accumulate when these stocks fall ) are :
J P Associates (cmp 1055) our Target is Rs. 1350
Bharti Airtel (cmp 970) our Target is Rs. 1100
SBI (cmp 1665) our Target is Rs. 2282
Shivvani (cmp 365) our Target is Rs. 480
BHEL (cmp 2075) our Target is Rs. 2450
Ranbaxy (cmp 420) our Target is Rs. 500
Aban Lloyds (cmp 3900) our Target is Rs. 4400
Maruti (cmp 1092) we shall put a new Target shortly.
Indo Borax and Chemicals Ltd. (IBCL), is in the business of manufacturing inorganic chemicals like boric acid, borax and 2 new value-added products – eco borax and glaze bore.
Falling prices of its main raw material – imported boron ore – due to the appreciating Rupee and new mines opening up in East European countries could help IBCL boost its EBIDTA margins. IBCL caters to diversified fast growing user industries like glass, ceramics, pharmaceutical, electroplating, leather, etc, each of which is on a high growth path. IBCL has raised prices of all its products by 15-25% since Oct 01, 2007. This could push its revenues and margins significantly from 2HFY08 onwards. (more…)