Indian Equity Research and Investment Strategy
Biocon has entered into a global commercialization deal with Pfizer for its biosimilar insulins (incl analogs) pipeline viz. Recombinant Human Insulin, Glargine, Aspart & Lispro. Pfizer will pay Biocon US$200m upfront & US$150m by way of development & regulatory milestone payments in addition to manufacturing-related income & royalties on launch.
The upfront payment of $200mn translates into a per share value of Rs45 (pre-tax) for Biocon. Mgmt indicated that a meaningful (more…)
Even though Silicon Valley companies like Google and Apple beat Analysts forecasts by Teens Margins, Infosys and other IT Services Company suffer as they fail to innovate and are often struck at the point of inflection.
Infosys reported a 2Q with revenue growth of ~10% qoq to $1496m (our exp: $1464b). Cross currency boosted reported growth by ~1%. Volume growth was 7.2% qoq while onsite pricing witnessed a improvement of ~2.5% qoq. Offshore pricing was down ~0.4% (more…)
Industrial Production (IIP) growth decelerated to 5.6%YoY in August from 15.2%YoY in July (revised upwards from 13.8% YoY earlier) and 5.8%YoY in June 2010. One of the predominant factors in driving down growth was a sharp fall in the capital goods index (-2.6% Y-o- Y for Aug vs 72.0% Y-o-Y in July).
Amongst other components, the consumer non durables sector continued to be weak, although durable goods growth remains strong. Intermediate goods, which generally lead the headline index by 2-4 months and has been on a moderating trend, inched slightly (more…)
PTC India Ltd has evolved from a pure play power trading company into a diversified and integrated entity with businesses ranging from power trading, coal trading, power project development and project financing.
Edelweiss has a Fundamental BUY on the stock with the main reason being the company’s current 18 bn kWh power trading volume in FY10 is expected to catapult 150% by FY13E and triple by FY15E to 57 bn kWh. Additionally, PTC Management wants to list PTC (more…)
Prestige is one of the leading real estate development companies in Bangalore[75%] and Chennai [15%] with portfolio ranging from residential, commercial, hospitality and retail segments of the real estate industry.
The Prestige Group plans to issue fresh shares to the tune of 6.6–7 crore and raise Rs 1,200 Cr. Now without wasting each others time lets directly come to understand if it is worth investment.
Management – All in the Razack family [ So are many Indian Businesses, but we disapprove]
Quality of Work and Consumer Demand – Was of Very good Quality until (more…)
Analysts across the street are hiking Khariff farm income growth by 20-25% with a better-than-expected harvest likely in October-November. Summer farm income growth has already likely doubled to 18.9% from 09 on agflation.
Rains 102% of normal – have raised yields to water a crop that is far larger than what the increase in sowing suggested. The biggest gain should accrue to cotton farmers who should enjoy both a 39.6% larger crop as well as higher prices. Pulses farmers will see a (more…)