Category: Breaking Corporate India Earnings News

In a Fax we received just a while ago from Mumbai, we learn that DLF has been included in the 30 stocks Indian Indiex – BSE SENSEX.

Dr Reddy’s Lab is the stock moving out and paving way for DLF.

Additional modifications have also been done to the BSE 100 Index. Asian Paints, Bioco, Canara Bank, Dabur, Dish TV India and Videocon are out of the BSE 100. Stocks that are included are in the BSE 100 are Idea Cellular, Adani Enterprises, Jindal Steel & Power, Patni Computer Systems, Power Finance Corporation and Union Bank of India.

Here is Kotak’s coverage on DLF. Citigroup has also initiated coverage on DLF.

Top 10 Small & Mid Cap Stocks Ranked by EPS Growth. Source Citigroup

Company name and its FY07E EPS Growth
1 Gigabyte 1,346%
2 Moser Baer India 1,311%
3 Dore Holdings 1,268%
4 Perfect World 1,161%
5 Beijing Capital Land 861%
6 E.Sun FHC 706%
7 REXCAPITAL Financial 704%
8 Doosan Industrial Dev 576%
9 KLCC Property Holdings 571%
10 Great Eagle 403%

Here are the top 5 picks from Share Khan that will give you high RoI, i.e difference between Current market price and Target price.

• Axis Bank – CMP Rs 750 – Target Rs 960
• Wockhardt – CMP Rs 419 – Target Rs 552
• Indo Tech Transformers – CMP Rs 517 – Target Rs 650
• BHEL – CMP Rs 1990 – Target Rs 2450

Reliance Industries may join GAIL India and Hindustan Petroleum Corporation (HPCL) to set up a mega one million-tonne per annum (mtpa) petrochemical complex in Visakapatnam.

The plant may cost over Rs 6000 crore. The capacity of the plant would equal the polymer manufacturing capacity of RIL and Indian Petrochemicals Corporation (IPCL) put together.

RIL has a capacity of one million tonnes after it acquired IPCL from the government in June 2002 and merged it with itself. Gail has an agreement with RIL for setting up petrochemical plants overseas.

Reports indicate the move could be seen as a precursor to the possible delisting of the company from the Indian stock exchanges.

The promoters currently hold 70% in Bayer CropScience. For reverse book building required for delisting, the existing promoters’ stake would have to be raised to over 90%. This will require announcing a buyback of shares.

At the current price of Rs 314.15, the scrip trades at a PE multiple of 11.99, based on Q1 June 2007 annualised EPS of Rs 26.20.

Educomp Solutions Ltd has signed an Memorandum of Understanding (MOU) with Raffles Institution, Singapore. The Scope of Services would include consultancy advice & services of Raffles Institution for schools set up by the company though its related entities. The essence of this MOU is to bring the best of global education in India. Raffles institution is the leading school in Singapore and renowned for its innovative practices and its curriculum. Citigroup has a SELL / Book Profits Recommendation on Educomp.

CS Software Enterprise has bagged orders from Maharashtra State Electricity distribution Company to implement electricity billing in the city of Nasik, Maharashtra. The estimated value of the orders is around Rs 14.20 million.