The markets rang out 2010 with solid gains in the last trading session of the year. Despite a slide early in the year on growing concerns about the Eurozone, most Asian equities came back strongly. The Indian market is poised for good gains in 2011 after rising 15% in 2010. With the government projecting the [...]
Ambareesh Baliga, VP, Karvy Stock Broking Ltd , in a chat with ET Now tals about Mphasis. From the midcap IT space, what do you like? Mphasis is one stock which I like. It has been moving recently well in the past couple of days. We have a price target of around 825 but it [...]
The Ministry of Environment and Forests (MoEF) has issued a show-cause notice (refer Annexure I) to Mundra Port and SEZ (MPSEZ), raising a number of issues including the destruction of mangroves around the port area. MoEF has asked why the environmental clearances awarded to the company, for its (1) north and west ports on 12 [...]
During FY2010–13E, we peg DBCL’s ad revenue (excluding radio) to post a 17% CAGR, ahead of industry growth at a 14% CAGR. Growth will be led by 1) higher ad spends in regional markets, 2) uptick in the economy, resulting in higher ad volumes and 3) penetration into new geographies. Despite low focus on circulation, [...]
Hero Honda and Honda have signed an MoU following which Hero Group will acquire Honda’s 26% stake in Hero Honda Motors Ltd. (HH). The transaction, which will be funded through debt, will be completed in a phased manner by next year. The management, however, did not disclose the financial details pertaining to the purchase of [...]
Jaguar Land Rover’s (JLR) November volume scorecard of 22,957 units was ahead of our expectations, compensating for the below-estimated volumes reported over the past two months. The higher volumes, more importantly, suggest progressive resolution of bottlenecks faced by the company until recently. JLR clocked good volumes in the US and the EU (ex-UK) geographies, while [...]
Aurobindo Pharma on the daily chart has formed a ‘hammer’ pattern on candlestick and followed with closing above the short term moving averages. With RSI signaling a positive crossover and MACD crossing above the reference line, the stage is set for the stock to test its all time peak of Rs1340 levels. From the medium [...]
After consolidating for almost 6 months, Zee Ltd on the daily line chart has signaled a breakout from the ‘symmetrical triangle’ with spurt in volumes. The stock has managed to form a solid base above Rs146 which is 200 DMA, for launching the next leg of upmove. On the Oscillator front, the MACD is still [...]
Australian generic major Nufarm has indicated that the planting season in regions such as Brazil and Argentina has been delayed due to late rainfall in these regions. Brazil and Argentina account for a significant part of United Phosphorous’ sales to the Rest of World (RoW) region. Additionally, Nufarm has also stated that the sales in [...]
We initiate coverage on Shriram Transport Finance (SHTF) with a BUY rating and a target price of Rs 900/sh (3.4x BV and 14x EPS on FY12E). We like SHTF for (a) its unique positioning in the commercial vehicle financing space (largest organised player in pre-owned CV lending with approx 25% market share along with 8-10% [...]
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