Indian Equity Research and Investment Strategy
How to Get More Returns in Mutual Fund SIP with Swing Strategy ?
Max Life Insurance – Revised Deal, Positive for Max Financial
Will the Digital Neo Banking Platforms Succeed in India ?
Should you own the Life Insurance Business ?
Does HDFC AMC deserve High Valuation ? Review
Valuation of Indian Markets & Relentless FII Selling
Why Indian StockMarket Quoting at High P-E ?
Why Value Investing Does not Work in India ?
IGL’s blended gas costs increased by INR 3.3/kg as gas prices were increased from INR 3840/tscm to ~INR 6300/tscm (USD 3.84/mmbtu). We had assumed IGL to increase ~INR 3/kg for consumers.
However, IGL has increased the prices by INR 5.6/kg. We believe that this move of IGL is due to the following reasons:
IGL has used the opportunity to pass-on higher price of RIL’s KG-D6 gas. We estimate that IGL needs to peg the selling price of CNG at (more…)
The Indian Finance ministry has unveiled Drat – 2 of the Direct Tax Code. We fail to understand if it is a Finance Bill or a High School Assignment conducted by the officials. Analysis and implications for Salaried / Small Investors after 24 hour hectic consultation with Tax Experts.
Capital Gains Taxation – Direct Tax Code -2001 [Draft] Capital gains to be treated as income from ‘ordinary sources’ for all taxpayers, including non-residents and taxed at applicable rates. The distinction between ‘ordinary source’ and (more…)
Corporate capital spending in India is likely to surprise on the upside. Capex plans for the next six months imply a 20% YoY increase in calendar 2010. According to the AlphaWise survey, confidence in the growth outlook drives capex – and 89% of corporates expect better domestic economic conditions in 2010 than in 2009.
Capex plans are focusing on productivity gains and brownfield expansions. Capex looks most sensitive to changes in growth (more…)
India’s industrial production rose 17.6% in April, beating market expectations on the upside by nearly 2.5 percentage points. It even came close to putting our own bullish 16% y-o-y number to shame. This reading, along with HSBC’s manufacturing PMI which rose in May, presents a very strong case for the RBI to tighten further and faster. The economy is clearly performing above potential, with capacity hitting constraints due to strong demand. It’s time to hike.
Capital good production, at 73% y-o-y, was the highest since the series began in April 1995. Consumer durables (37% y-o-y in April) (more…)
Dishman Pharmaceuticals & Chemicals (DPCL) has posted disappointing results for the Q4FY10 due to 24%YoY fall in CRAMS revenues. Total income declined by 13%YoY from Rs2.89bn to Rs2.50bn due to the slowdown in Carbogen Amcis (CA) and other CRAMS business. Net profit declined by 71% from Rs717m to Rs211m.
The company’s EBIDTA margin improved by 560bps from 24.2% to 29.8% mainly (more…)
In a conference call Prof. Kirit Parikh, ex-member, Planning Commission, and chairman of the expert group constituted by the Government on sustainable petroleum pricing, to share his views on the Indian energy sector and related issues in the broad economy.
Here are the key takeaways from the Conference Call with Kirit Parekh
Near-term impact on inflation and fiscal balances would be more than offset by the long-term benefits of fiscal stability for the Government. Current market conditions, esp. commodity prices would limit the impact. (more…)
