Category: Equity Research

ABN Amaro in its research report have suggested to BUY Aban Offshore Ltd. [BOM:523204] Aban Offshore has increased its rigs from 4 to 20 in 3 years and is one of the top-10 rig operators globally. Repricing gains, Higher Capacity and acquistion of Sinvest will drive earnings growth of Aban in the next 3 years. ABN Amro has initiated a coverage with a 12 month price target of Rs1,300. 21% upside from current levels of Rs1080.

Annualized EPS expectations for FY07, FY08 and FY09 are Rs24.8, Rs116.5 and Rs223.5.

Tags: Dalal Street, ABN Amro, Aban Offshore, Stocks India

American $220 Billion Oppenheimer Fund has cut India to underwieght due to expensive valuations and finds Brazil much more attractive.

Michael Metz of Oppenheimer said that, India is an exciting market but Brazil is the most attaractive emerging market. Michael further added that market is stretched too high and is vulnerable to a sudden and quick correction. He is worried at the speed the Indian markets have risen and is a major cause of concern.

Via[MC]

Tags: Dalal Street, Emerging Markets, Stocks India, Bric Stocks

India first pure Internet Play, Info edge India Ltd – NAUKRI listed at 50% premium to its offer price. The stock is currently trading at Rs580. We advise to BOOK Profits for investors who have been allotted in the IPO as valuations look overstretched at these rates and don’t justify its earnings potential.

Tags: Dalal Street, Naukri, Info Edge,IPO India

Long after DalalStreet.Biz initiated coverage on Tech Mahindra, Merill Lynch has now initiated a covergae with a BUY rating and a target price of Rs1280. Our price target was Rs 1,250.

Brokers Recommendations:
KPIT Cummins – Outperformer from Prabhudas Lilladhar

Tags: Dalal Street, Tech Mahindra, Invest India, Money India

Tata Sons who are in need of money to finance the Tata Corus deal have offloaded 85 Lakh shares of TCS Ltd to HSBC in a bulk deal on the Bombay Stock exchange. The price the deal was struck is Rs 1,082 / share. TCS is now traded at Rs 1,097 on BSE.

With the success of Parsvnath Developers Ltd IPO, All the Indian Real Estate Stocks are locked at upper circuit.

Ansal Housing Ltd at 346.70
Ansal Infrastructure Ltd at 925.25
Unitech Ltd 426.30
D S Kulkarni 300.75