Gabriel India Ltd is the flagship company of the Anand group, a leading manufacturer and supplier of automotive components and systems in India. It was promoted in technical and financial collaboration with Gabriel Company, US (20.81% stake). The company enjoys a leadership position in the market and is a leading manufacturer of Ride control products [...]
IDBI Banks Q4FY2011 results came in above our estimates in terms of the profit after tax (PAT), which grew by 62% year-on-year (y-o-y) to Rs 516.3 crore. The growth in the profit was driven by a sharp reduction in the provisions and a 51% sequential growth in the non-interest income. However, the growth in the [...]
Yes Banks Q4FY2011 results came In line with our estimates as net profits grew 45.2% year on year (YoY) to Rs203 crore. The growth in profit was driven by a strong growth in net interest income (NII) which grew by 42.7% y-o-y and 7.8% sequentially. The advances and deposits of the bank grew by 54.8% [...]
Beats the Street: HCL Technologies (HCL Tech) reported yet another stellar performance with a 17% sequential growth in net profit to Rs 468.2 crore in Q3FY2011, much ahead of our and Streets expectation of a 13% quarter-on-quarter (q-o-q) growth. The highlight of the quarter was the strong margin performance, which improved by 100 basis points [...]
Bharat Heavy Electricals Ltd (BHEL) would announce its Q4FY2011 provisional results on 4 April, 2011. We estimate the company’s revenue for Q4FY2011 would rise by 25.2% year-on-year (y-o-y) to Rs 16,979.9 crore on sound execution of its boiler-turbine-generator orders. The effect of the higher raw material cost would be offset by a lower employee cost. [...]
Lakshmi Machine Works (LMW) has announced buying out Rieter’s share in its JV, Rieter LMW Machinery Ltd. (RLM). Currently, the holding of the JV is 50:50. Rieter had offered tosell its holding of 50% shares in RLM to LMW, which the latter has accepted. The value of shares will be determined as on June 30, [...]
Wipro will acquire US-based Science Applications International Corporation’s (SAIC) global oil and gas IT practice for an all-cash consideration of nearly $150 million (approx Rs 675 crore). The purchase is valued at approximately 0.8 times the revenue and six times the EBITDA on a trailing 12-month basis. The deal is expected to be completed by [...]
Investment rationale: Novartis has looking to buy out the remaining stake in US-based eye care group Alcon by the end of this year. The company is planning to enter into consumer health care and generics. Net Sales and PAT of the company are expected to grow at a CAGR of 11% and 18% over 2009 [...]
Investment Rationale: Exports likely to drive growth in the standalone business: With European M&HCV segment growing at 20-25%, management expects the exports to grow at 25% in FY12E. New non-auto facility likely to operate at 65-70% utilization: Currently, the new non-auto facility at Baramati is operating at a 50% utilization level. With a strong visibility [...]
High CASA ratio and diversified income source – a key strength: Axis Bank’s key strengths have been its ability to grow CASA deposits (CAGR of over 40% over FY04-10) and diversified fee income (CAGR of over 50% over FY04-10). Unlike in the past (2 times of the industry growth), the bank is expected to grow [...]
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