Research Reports on Stocks, Commodities, Forex & Market Strategies
The sensex will start rising from December 10, 2008 onwards
and will reach 16000 points by the end of February 2009.
India will outperform the American economy.
Read full report here >Sensex 16000(Feb 2009) Financial Astrologer
Q209 results: NTPC posted Q2 revenue growth of 20%, driven by higher fuel cost (which is a
pass-through cost to the consumer). Generation declined by c7% (qoq) to 47bn units owing to
lower plant load factor (PLF), of c83% as compared to 86% in FY08 achieved by its coal fired
thermal power plants. The wage revision provision continued in Q209, resulting in a 47%
jump in employee cost and a 27% rise in other expenditures. Employee costs include
INR3,170mn in provisions for pending employee pay revisions and other employee benefits.
Read full report here NTPC (HSBC)
New Rs337 target price — We are reducing FY09-11E EPS by 5-16% with 1)
delays in new product deployments particularly outside India; and 2) higher
cost pressures as OnMobile continues to invest heavily on projects/new product
development, whose revenue streams have yet to start flowing. Our target price
is based on 16x Mar-10 P/E (25x earlier), and is in-line with multiples of
comparable peers. Target P/E while appearing high in this environment, is
justified given its strong growth prospects (37% EPS CAGR over FY08-11E).
To read full report Onmobile (Citi)
We reiterate Buy on United Phosphorus (Uphos) with a new 12-month TP
of Rs120 (earlier Rs220) implying potential upside of 33% from the current
level. Our calculations indicate that Uphos share price implies a 25%/18%
decline in revenues and net income over FY10E-12E which we view as
unjustified. We believe Uphos to have a steady earnings profile as 1)
Unlike fertilizers, agchem is relatively well positioned to withstand the
agriculture downcycle; 2) Demand for agchem is less elastic to economic
cycles; 3) Industry is consolidated with strong entry barriers; and 4)
Benefits of Cerexagri integration would start reflecting from FY2010E.
To read full report United phosphorus(GS)
Posts
