Posts filed under 'Infrastructure'
The positive sentiment represented by the closing of the US markets in the green yesterday was echoed by the Asian markets which were largely positive in session today. Sans the Straits Times, almost all major nation index in Asia Pacific was in green. The Sensex closed the day at 17130.51 up 272.60 points while the NSE Nifty is at 5161 up 88.15 points.
Except the Oil & Gas and FMCG, almost all sectoral index in the Indian markets closed the day in the green with Autos and Banks showing the major positive movement. IOC reported a Q11 loss at Rs. 3719 crores and that has hurt the sentiments in the oil sector.
Top gainers of the day are Tata Motors (up over 6%), Maruti Suzuki, Mahindra & Mahindra, Hindalco (all three up over 5%), SAIL, DLF, Jaiprakash Associates and Bajaj Auto (all up over 4%). On the losers end are Grasim, ONGC (each down over 2%), ITC and Cairn India (each down over 1%) amongst others.
GMR Infrastructure (BSE: 532754; NSE: GMRINFRA; ISIN: INE776C01039) posted a Q1 loss of Rs. 66.7 crore during. The company I eyeing FY12 revenue at Rs 8000 cr. A Subba Rao, Chief Financial Officers said that the depreciation and interest costs for the Delhi airport has hurt the bottom line. Thanks to the positive sentiment in the markets today, the script managed to close the day in the green. GMR Infra closed at Rs. 30.85 up 0.75 or 2.49%.
August 10th, 2011
Unlike Friday, the Indian markets are more close to the realistic situation and happenings around the world, particularly in the Asian stock markets. Like its peers, the Indian markets had a near-about bloodbath session. The markets opened the day with a huge gap-down opening but continued to recover the lost ground as trades progressed. The situation was much better after the European stock markets opened.
The Sensex closed the day at 16990.18 losing 315.69 (-1.82%). The NIFTY ended at 5118.50 losing 92.75 (-1.78%). CNX Midcap closed at 7593.85 down 97.30 (-1.27%) while BSE Smallcap closed at 7641.08 down 173.97 (-2.23%).
ADAG and Real Estate sectoral stocks are hit the most in today’s session. Reliance Capital, Hindalco, Reliance Power, DLF (all down over 7%), Tata Motors (down 6.68%) led the losers list. Hero Motors (up 3.85%), M&M, PNB, ONGC, Ambuja Cements (all up over 2%) lead the gainers pack. All sectoral indices closed in the red. IT, Realty and the Service sectoral index showed heavy weakness compared to others.
Larsen and Toubro (BSE: 500510 | NSE: LT | ISIN: INE018A01030) announced their quarterly numbers today. There is a 12% Y-o-Y) growth, in its profits at Rs 746 crore for the April-June quarter of FY12. The company reported good order inflows. The script corrected sharply recently and many experts say it is now in reasonably priced zone. Added, there are very few stocks in the category that have good attributes and hence L&T is a good pick for medium to large term.
August 8th, 2011
The Indian stock markets lost a little ground today because of bearish movements in many of the constituent stocks. The Sensex closed the day testing the 18100 mark today at 18109.89 points losing 204.44 in trade today. The Nifty tested the 5450 level but managed to close a little above it at 5456.55 points losing 60.25 points in today’s trade.
The global markets earlier had shown a similar picture. The Hang Seng lost 241 points today whule Nikkei 225 and Taiwan Index lost 120.42 and 116.66 points respectively.
Leading gainers in trade today include NTPC and Cipla which rose above 2% each. ONGC with 1.12% and Kotak Mahindra Bank with 0.81% followed. On the losers end are JP Associates that continued to be hammered. The script lost 4.87% today. Reliance Communications is back to sub-Rs. 100 levels and closed the day at Rs. 98.95 losing 3.51%. SBI and Reliance Capital followed in the list.
Crompton Greaves (BSE: 500093; NSE: CROMPGREAV; ISIN: INE067A01029) that is in active trade (and losing ground in recent times) is back in the green today. The script closed yesterday at Rs. 160.35 opened this morning at Rs. 169 and closed the day at Rs. 164. So, technically the script appeared to have created a positive ground today.
Food Minister K V Thomas in a written reply to Lok Sabha said that the closing stock of Sugar is expected to remain higher and up by 17% and that the sugar prices are currently stable. Sugar stocks however remained weak and most of them closed in the red. Blarampur Chini and Bajaj Hindustan are down over 5% each. Shree Renuka and Bannariamman are down 4% each. Dhampur Sugar is down over 3%. KCP Sugar is down over 2%.
August 2nd, 2011
Shares of Electric equipment maker and Capital goods major Crompton Greaves tumbled down largely yesterday and today that the stock lost immense value. The tumbling down of the share price was in double digit percentage points during these two days. The share price is now at Rs. 176.95 after losing Rs. 30.70 in todays session. The stock is down 14.78% on the BSE today.
So, this allows us to peep inside and dig some details about the script. Some say that there are few problems with the stock.
Firstly, the well-known fact that the net profit fell by 58.6% during April – June 2011.And from what the company says, it might take two more quarters to recover to its smiling levels.
Secondly, beyond the bad quarter numbers, some section of investors are worrying that the top management lacks confidence in the company. They say this considering that the outgoing MD and non-executive chairman of Avantha Group, S M Trehan, sold 1.8 lakh shares of the company at an average price of Rs. 260 during June 29 – July 1, of course after taking the permission from the company secretary and before the closing of the trading window. Trehan says he has acquired the shares 11 years ago and being not shares-savvy, he has exited them, having retired from the company. However some section of investors say this is a potential insider trading case and there are some governance issues behind this.
Many brokerage firms are not comfortable at the developments and are giving a cautious view on the counter. UBS for example, maintains a SELL with a target of Rs. 240. Kotak feels that the results are representing a weak demand environment and not too much of the company. They have a target of Rs. 310. HSBC Asset Management Company’s Jitendra Sriram says that once the quarter goes, things will settle. SP Tulsian finds a buying opportunity in the counter. He says the script has a fair value at around Rs. 200.
July 20th, 2011
L&T has come up with its 2QFY11 results and the numbers are above street estimates. L&T is undoubtedly one of the most favorite stock amongst the FIIs, MFs and retail investors. Needless to say, the script jumped back towards the positive territories soon after the numbers came out. Brokerage firms have updated their recommendations on the script and most of them feel that there is limited upside left in the script.
Motilal Oswal in its October 18, 2010 gave a Neutral rating to the numbers but gave a Buy recommendation to the script with a target of Rs. 2356 based on SOTP valuations.
Angel Broking says that the considering the stock is trading at 28.7 P/E multiples, there will be limited upside left. It gave a Neutral rating and a target of Rs. 2024 based on SOTP.
Prabhudas Liladhar says the revenues are positive surprise and gave an Accumulate rating for the script. They have put a target of Rs. 2100.
Emkay maintained its Accumulate rating and gave a target of Rs. 2129.
October 20th, 2010
Next PostsPrevious Posts