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TCS –Accumulate- Angel Securites

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TCS’s UK-based subsidiary Diligenta, which provides BPO services to the UK life and pension sectors, has won new contracts from the Phoenix Group and Old Mutual International. The new contract with the Phoenix Group is an extension by another six years till 2018. Both the Phoenix Group and Old Mutual International contracts are expected to [...]

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Patels Airtemp India –Buy- Sharekhan

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Patels Airtemp’s Q1FY2011 results showed top line having increased by 8.2% y-o-y to Rs16.6 crore. Conventionally, the first quarter is a sluggish quarter. The operating profit margin (OPM) improved by 430 basis points y-o-y to 22.2% in Q1FY2011 from 17.9% in the corresponding quarter of last year. This was mainly due to increased manufacturing capacities, [...]

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Bajaj Electricals –Neutral- Angel Securities

Broker tips

Bajaj Electricals has bagged three orders worth Rs408 crore in the engineering and procurement (E&P) division. The largest order is worth Rs324 crore for its transmission line towers (TLT) business, which is to be executed over the next two years. The second order is worth Rs61.5 crore for rural electrification in Chhindwara, Madhya Pradesh, which [...]

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Indiabulls Real Estate – Sell

Broker tips

Investors with medium-term perspective can consider selling the stock of Indiabulls Real Estate (Rs 171.5). The stock has been on an intermediate-term downtrend from its October 2009 peak of Rs 298. Moreover, the stock continues to be in a long-term downtrend since its all-time high of Rs 847 recorded in early 2008. In mid-August, the [...]

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TVS –Neutral- Angel Securities

Broker tips

TVS Motor plans to invest Rs200 crore by April 2011 to increase its two-wheeler production capacity to 28 lakh units from the present 21 lakh units. With the company operating at high utilisation levels, capacity expansion is being carried out to meet the surge in demand in the two-wheeler space. Moreover, demand for TVS Jive [...]

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RIL –Buy- Angel Securities

Broker tips

Reliance Industries Limited (RIL) to ink a deal with DE Shaw to launch a US $700-800 million infra fund After telecommunications, Mukesh Ambani is getting into another of his brother’s territories— financial services. RIL is close to inking a deal with global hedge fund DE Shaw to launch a US $700–$800 million infrastructure fund. Apart [...]

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Tata Power –Neutral- Motilal Oswal

Broker tips

Over FY10-12, we expect Tata Power‘s consolidated earnings to increase from Rs14.8 billion in FY10 to Rs25.1 billion in FY12 (CAGR of 30%). But a very meaningful part of the increase will be driven by commodity earnings, given that Tata Power is net long on coal by 16-18mt a year. The contribution of commodity earnings [...]

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PowerGrid –Buy- India Infoline

Broker tips

The stock has been consolidating in a range between the levels of Rs101-107 from last two weeks. On Thursday, the stock attempted to break-out from the upper-end of this trading range. Moreover, on the daily chart, the stock has formed a Bullish Candlestick suggesting upside from the current levels. The daily RSI is already in [...]

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Medium term view – NETWORK 18 – IDBI Capital

Medium Term

We had recommended this counter as a buy in our May 2010 letter at 158 levels and on dips towards 140-30 for target 290 / 342 / 386. Looking at the chart we find that prices after several failed attempts to breakout from a primary accumulation pattern at 165-70 levels (orange line), collapsed sharply during [...]

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Indian Overseas Bank –Buy- Angel Securities

Broker tips

Indian Overseas Bank has announced its 1QFY2011 results, wherein it has registered net profit decline of 33.6% on a y-o-y basis and robust growth of 57.2% on a sequential basis to Rs200 crore, which is above our estimate on account of better-than-estimated NII growth coupled with lower provisioning expenses. The bank made the entire FY2011 [...]

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