Category: Economy, Markets and Macro Views

Kotak Sec has a BUY recommendation on FMCG Major Marico industries and suggesting buying its retail growth story.

The beauty and wellness segment is on a positive growth path riding on the back of fast-changing lifestyles, growing health consciousness, high disposable incomes and demand for quality products. (more…)

In one of the boldest new year upgrades, Deutsche Bank Securities Research has upgraded the Indian Banking Stocks. Axis, Bank of Baroda and HDFC Bank have been upgraded from HOLD to BUY. The rest are already in the BUY list. However, this time we see target prices of most banks to be 40% + from current levels, something hard to believe but only time will tell.

India stands at the cusp of a high growth scenario in domestic lending on two counts 1] RBI likely to use softening as a tool to address (more…)

Revising earnings model for India Infoline (IIL) to factor in the proposed preferential allotment by Orient Global and recent infusion in the insurance distribution business. IIL will need capital to fund margins with exchanges. It may likely increase capital contribution to (more…)

In a research report released just minutes ago, Lehman Brothers has upgraded the Indian IT stocks. The upgrade comes 3 months after their bold move to call a SELL on Indian IT.

Infosys Technologies:
Infosys’s recent multiple contraction has priced in negatives like an appreciating rupee, a rising tax rate and a slowdown in EPS CAGR to 18.4% in next five years. The stock price will be driven by revenue and earnings momentum, which is likely to continue in the next few quarters. Infosys is expected to report an EPS (more…)

Citigroup continues to be bullish on the Indian market and has set a BSE SENSEX Target of 23,950 to 25,000 for 2008. Average earnings of SENSEX companies has grown by 33% in the last and current financial year. For the FY09 the earnings are likely to grow a modest 19%, the lowest in the PAST 5 years. (more…)

Gateway Distriparks has announced its plans to raise INR 2.5-3.0 bn through private equity in its subsidiary called Gateway Rail Freight (GRF) in the next 3-6 months. GDL owns 90% in the subsidiary whereas 10% is owned by directors of the company. Gateway rail freight is formed with a view to carry container train business and further expansion into its ICD business and plans to invest INR 8-10 bn over a five year period (INR 6-8 bn from equity and remaining debt contribution). (more…)