Market Updates 18 May11
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Market Outlook »
Nifty trading at 1-month low below 5400 levels fresh declines.
Support is likely at the 5450 levels below which the 5420 maybe
seen.The downward sloping trendline still remains a maginot line for
the bulls to overcome - failing which any upthrust remains a relief
rally. The Nifty (spot) must stay above the 5525 levels sustainably
with volumes and open interest expansion to rally intraday. On the
flip side, sustaining below the 5400 levels may trigger a fresh bout
of declines
Technical Calls »
Buy Rajesh Export 87.40 target 100
Buy Ruchi Soya 105.00 target 110
Buy Vaibhav Gems 49.00 target 55
More
Momentum Calls »
Buy Coromandel 312.65 Near term it may touch 325
Buy ARL 104.70 Near term it may touch 110
Buy PolyPlex 193.25 Near term it may touch 200
More
Investment »
ASHOKA BUILDCON
Post IPO, ABL is aiming for the next league with aggressive but
calculated bidding strategy. In FY11 ABL has won projects worth more
than Rs30bn. We expect ABL to maintain its market share of 3.5% fo
Investment »
RAJOO ENGINEERS LTD
The company has the largest market share of blown film lines, sheet
lines and thermoformers on the Indian sub-continent. With exports
representing ~50% of the total sales ......
Corporate Report »
L&T
With this order the outstanding order book stands at ~`1,19,482cr
(2.6x FY2011E revenue), providing revenue visibility. At the CMP of
`1,516, the stock is trading at 18.3x FY2013E earnings and 3.1x
FY2013E P/BV on a standalone basis.......
Analyst Corner »
Hindalco Industries
While performance in the aluminium segment was in line with our
expectation, the copper segment reported strong results driven by
higher by-product credits (sulfuric acid prices, in our view).
Reported PAT in 4Q FY11 of Rs7.1B (+7% y/y; +54% q/q) was sharply
ahead.
Stock Watch
SKS Microfinance
- plans to reinvent its business model and for this itplans to raise
Rs 40-50 billion in 2011-12. SKS which has lost close to 42% in the
last three weeks on losses and low recovery in Andhra Pradesh, which
is its largest market, will now focus on gold loans and enter other
non-core streams, even if it includes setting up a subsidiary.The
company plans for the year 2011-12 includes giving more gold loans,
lending to kirana stores and providing loans for buying mobile phones
Stock of the Week
Rain Commodities
Fabulous Q1 nos caused by robust cement demand and fantastic
performance of CPC division.Sales have gone up sharply by 73% PBT has
zoomed by 370%. Despitre 1700% rise in tax provision. PAT is up 242%.
CY11 PAT at 240crs should achive EPS of Rs 100-105 for CY11. Stock
available at 2XCY11E EPS low.
Hot Delivery Investment
Calls Reviews
Adani given at 626 Achieved 662
IRB given at 161 Achieved 167
Tata Motors given at 1208 Achieved 1234
Vikas Global given at 81 Achieved 84
Ranbaxy given at 478 Achieved 497
ShreeGanesh given at 252 Achieved 278
H.T Media given at 150 Achieved 161
UBI given at 321 Achieved 332
DhanBank given at 124 Achieved 130
IDBI given at 136 Achieved 140
Whirlpool given at 242 Achieved 252
Liberty given at 93 Achieved 96
Tulip given at 157 Achieved 164
Tawalkars given at 220 Achieved 230
Ranbaxy given at 449 Achieved 483
PTC given at 88 Achieved 92
Kale Consultate given at 88 Achieved 92
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