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Broker tips

India Cements –Accumulate- Angel Securities

by free stock tips on March 11, 2010

in Broker tips

India Cements has raised $65 million via the qualified institutional placement (QIP) route, which we believe is primarily for the redemption of the $75 million of foreign currency convertible bond (FCCBs) due in May 2011.
The conversion price of the FCCBs is at Rs350, which is far above the company’s current market price. Thus the FCCBs [...]

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Mundra Port –Accumulate- Kotak Securities

by free stock tips on March 11, 2010

in Broker tips

Mundra Port & SEZ stock up sharply (47%) since our last buy recommendation at Rs.501. Port volumes are up 13.8% y-o-y in 9MFY10 to 29.8 MMT.
Increased SEZ sales could bring further upsides to our earning estimates We remain positive on long term growth prospects However, the stock is fairly valued at 32.6x FY11E EPS of [...]

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Reliance Infra –Sell- India Infoline

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The stock hit a recent low of Rs950 in February 2010. Thereafter, it witnessed a rally to the current levels. The recent peak has proved to be major resistance for the stock as seen in the past.
Since February 2010 the stock has been trading along with the support of its short-term trendline. However, on Monday, [...]

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Orbit Corporation –Buy- Sharekhan

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The management of Orbit Corporation had earlier indicated that the company would launch at least one project every quarter. The company had successfully done so for the last two quarters. In the last conference call after the announcement of the company’s Q3FY2010 results, the management had indicated the launch of five new projects and the [...]

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Nagarjuna Constructions –Accumulate- Angel Securities

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Nagarjuna Construction (NCC) has secured orders aggregating to Rs1,221 crore. The work orders are spread across verticals of road construction, turnkey electrical works and building construction and are to be completed over a span of next 12-30months.
The order book of NCC stands at Rs16,600 crore or 3.5x its FY2010E revenues. At the CMP of Rs163, the [...]

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Hindustan Construction (HCC) –Neutral- Angel Securities

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Hindustan Construction (HCC), a leading construction and development company, has secured two orders totaling to Rs299 crore.
The Orders are related to the fabrication of Pot Superstructure and completion of Civil & RCC Structural work for Pot Line for Aditya Aluminium Smelter Project at Lapanga, Sambalpur, Orissa. The first order involves the design, engineering, procurement and [...]

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Escorts –Buy- Anand Rathi

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We initiate coverage on Escorts with a BUY rating and a target price of Rs202. We estimate the turnaround in operations, focus on core business, agri-equipment’s strong performance and potential from construction equipment and railway components segments would lead to a 68% net profit CAGR over FY09-12.

Escorts has re-invented itself by focusing on its core [...]

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Nestlé India –Sell- Anand Rathi

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We expect current premium valuations to weigh on Nestlé’s stock price and reiterate SELL with a revised target price of Rs2,003. Over the last 10 years, the stock has traded at an average 65% premium to the Nifty.
With lower earnings growth, we expect the current 100% premium to the Nifty to shrink in coming quarters. [...]

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Bhushan Steel –Buy- Kotak Securities

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The stock broke out from a ascending triangle pattern. It had been moving back and forth within the context of the triangle from third week of January 2010. In the above formation, two or more rising troughs form an ascending trend line that converges on the horizontal line as it rises. It is considered a [...]

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Infosys –Buy- Prabhudas Lilladher

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The Infosys management was optimistic about the improved demand environment. We believe that Infosys would continue to outperform its peers in the improved demand environment.
According to the management, IT budget is expected to be flat with a positive bias. The management, though, was positively surprised by the final outcome of the IT budget since they [...]

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