RCF is one of the leading producers of Fertilizers in India and was incorporated in 1978 with the reorganization of the erstwhile Fertilizer Corporation of India. Looking at the highertime frame chart we find that prices since Feb 10 have been undergoing some good accumulation, forming a pattern along the way. Tracing back a bit [...]
The net sales grew by 36.1% year on year (yoy) to Rs87.3 crore (ahead of our expectation of Rs80.2 crore) on the back of the strong performance of the company’s pillar brands (Sugar Free, Everyuth and Nutralite) and the new variants recently launched. Sugar Free continues to dominate the market while the Everyuth range of [...]
Thermax’ Q1FY2011 results were above our expectations on almost all fronts due to a strong growth in its top line. The net income from the operations increased by 49% year-on-year (y-o-y) to Rs778.8 crore against our expectation of Rs634.2 crore due to a robust growth in both the energy and the environment division. The environment [...]
Adani Group is in the foray to buy Deccan Chargers for $280–300 mn, which is approximately 3 times the price that Deccan Chargers Sporting Ventures paid for the IPL team in 2008. Deccan Chargers is 80% owned by Deccan Chronicle, which publishes Deccan Chronicle and Financial Chronicle, with the balance 20% held by leading media [...]
BASF India’s stand-alone Q1FY2011 net profit came in at Rs48.9 crore, up 19% year-on-year (y-o-y). However the results are not strictly comparable due to consolidation of the financials of Ciba India. The net sales for the quarter were up by 72.7% y-o-y to Rs659.84 crore, driven by a 1.6x year-on-year (y-o-y) rise in the revenue [...]
Rallis India declared its 1QFY2011 results, with revenue growth of 22% to Rs203 crore, which was ahead of our estimate of Rs193cr. However, EBITDA margins at 11.6% were below our estimates of 13%, hence overall profit came in at lower than the estimate. Total reported PAT for the quarter came in at Rs14.8 crore against [...]
Axis Bank is exploring options to monetize its 4,200 automatic teller machines (ATMs). For an upfront payment, the bank may allow a third-party service provider to collect interchange fees from other banks to let customers use Axis Bank’s ATMs. Thus, the bank will be able to move its ATM assets off its balance sheet and [...]
After trading sideways for almost 10 months, the stock has given breakout from falling channel last week after the stock successfully managed to close above the upper range of channel corresponding at Rs136 with good volumes. Such a breakout is likely to trigger positive momentum in the near term with upper range of resistance getting [...]
The stock has been moving sideways and in a narrow range of Rs337-Rs350 for almost a couple of weeks after rallying sharply from Rs302 to Rs372. As of now, the stock is successful in adhering to its 50% retracement support corresponding at Rs337 which earmarks inherent strength in the counter. After yesterday’s close above Rs348, [...]
Bharti Airtel will invest $600 million in Nigeria’s mobile market following its takeover of Zain Telecom’s African business for around $10.7 billion. There exists strong growth opportunity for Bharti in the country as currently the mobile phone customers in Nigeria use only 50 minutes of airtime a month whereas 450 minutes is obtainable in [...]
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