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Summary
of Contents
PULSE
TRACK
STOCK
UPDATE
New Delhi
Television
Cluster: Emerging
Star
Recommendation: Buy
Price target: Rs260
Current market
price: Rs235
Karan Johar on board
In what is being
touted as the first step towards launching a world-class general
entertainment channel (GEC) NDTV today announced its partnership
with Karan Johar's production company, Dharma Productions. Under the
agreement, Mr Johar will be on the board of NDTV's GEC holding
company, NDTV Venture, and Dharma Productions will hold an
undisclosed equity stake in it.
Selan Exploration
Technology
Cluster: Ugly
Duckling
Recommendation: Buy
Price target: Rs94
Current
market price: Rs75
Relatively attractive
Key points
-
Comparatively cheaper: Selan Exploration
Technology (SETL) is comparatively much cheaper than the benchmark
valuation of $10.7 per barrel of oil & oil equivalent (boe) of
Cairn India at the upper band of its forthcoming public issue.
Even as compared with its peer Hindustan Oil Exploration (HOEC),
SETL is trading at one-third of HOEC's valuation.
-
Efforts to monetise oil assets: Apart
from the cheaper relative valuations, SETL is likely to get
re-rated from the success of its efforts to monetise its oil
assets. The company has invested Rs17.3 crore in the first phase
of the development of its oil field that is likely to result in
the commercialisation of four new oil wells.
-
Maintain Buy call: At the current market
price SETL trades at 13.3x FY2007 and 6.1x FY2008 estimated
earnings. We maintain our Buy call on the stock with a price
target of Rs94 (valued at $1.5 per boe).
SECTOR
UPDATE
Real
estate
Rather pricey
The much-awaited listing of
Parsvnath Developers was quite heartening for the investors as well
as the other real estate companies that have plans to raise funds
through offerings in the domestic and/or overseas markets.
Parsvnath's share price closed at Rs526 that works out to a premium
of 75.3% over the issue price of Rs300 per share. The stock touched
an intra-day high of Rs579 per
share. | 
