Category: Equity Research

Veritas Research is the crusader of Capital Markets writing out bold reports against companies like Reliance, etc ir-respective of the Political, Money and Muscle power the company’s management enjoys in India.

In a report on the IndiaBulls Group, Veritas has leveled some serious charges of bilking institutional and retail investors for the benefit of select insiders and put a SELL Recommendation on IndiaBulls Real Estate, IndiaBulls Financial Services, IndiaBulls Power [Down 8% after SELL-OFF]

Veritas has published this report (more…)

Analysts desperate to know if their money is safe in India are flying to Delhi to asses the situation of reforms and policies. Here is a quick take on the final gamble everybody is betting on. Top Bureaucrats in the administration as well reputed in the RBI believe that if over the next 50 days the Cabinet is not able to breakthrough then the Stagflation will continue and the Indian economy will go into hibernation until the next General Election.

What is Dr.Singh’s proposed gameplan over the next 2 months?
Even after the 19th July presidential elections, (more…)

Earlier this year, we started recommending you to invest some part of your small savings in BUYING Commemorative Coin Sets of India [Kindly Read it]

Today we’d like to share that 3 more sets of Coin Booking are Open from the India Government Mint. The following two are open from IG Mint Mumbai – 100 Years of Indian Council of Medical Research and 100 Years of Civil Aviation. You can download the forms [PDF] here and BUY 1 Proof and 1 UNC Set as Investment. Coin Booking ends on June-30th, so kindly hurry up. Even if you take the DD on June 30th and Post it on July 1st they will accept your application.

India Government Mint Kolkata is accepting (more…)

HCL Technologies is the Second Best IT Stock on Dalal Street after TCS in the last 4 years. It has registered among the strongest growth in the sector over the past year or so and its relatively low-margin base also provides some cushion. The company reported consolidated revenue up by 2.5% qoq to US$1.05bn led by IMS (+5%) and BPO (+6%); software services grew a slower 1.5%. EBITDA margin at 18% (-13bp qoq). PAT up 5% qoq to Rs5.8bn.

This set of numbers should assuage some (more…)

This is one Company and Group [HDFC] which is very cautiously managed yet Grows above its Sectoral Average and Deserves a Rating Higher than Government of India’s Sovereign Rating. No Kidding!

HDFC Bank reported 4Q earnings of Rs14.5bn, up +30% yoy led by topline and lower provisions, as asset quality continues to remain comfortable. Topline grew +19% yoy driven by 22% loan growth and margins holding-up at 4.2% yoy on rising share of retail loans. CASA remains high at 48.4%. Core fee income grew +24% yoy, ~85% from retail. (more…)

MindTree reported modest results for 4QFY2012, with OPM and PAT coming in ahead of expectations. The company reported a 4.9% qoq increase in volumes. MindTree reported revenues of US$105m (+1.3% qoq, +22% yoy). EBIT margins surprised positively and improved to 15.5% (+161bps qoq, +895bps yoy). Net income grew to Rs689m (+14% qoq, +115% yoy).

Management Outlook: While the recent weeks saw deterioration in the spending environment and management expects lacklustre growth for 1HFY13, it (more…)