Tuesday, April 19, 2011

Bazaaredge Market Updates 20th April11

 

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Market Outlook »

 

Nifty must stay above the 5825 levels sustainably with volumes....

In the short run, the market is likely to be subdued with no big positive triggers in sight.If there is a snowball effect from the outlook downgrade of U.S.The market has turned rather choppy and range bound for the short term amid lack of fresh catalysts. Nifty must stay above the 5825 levels sustainably with volumes and open interest expansionto regain it's upward momentum. On the flip side, sustaining below the 5780 levels may trigger fresh declines.

 

Technical Calls »

Buy TATA METALIK cmp 123.7 stoploss 120 target 130

Buy VOLTAS LTD cmp 172.3 stoploss 170 target 180

Buy GRAVITA (I) cmp 367.85 stoploss 360 target 375

More

 

Momentum Calls »

Buy V Guard 189.00 Near term it may touch 195

Buy Vivimed Lab 284.00 Near term it may touch 295

Buy KSK Energy 107.00 Near term it may touch 115

More

 

Investment »

OCL India 

OCL, despite having certain operational constraints, has been able to exhibit volume growth of 12% in FY11. We believe OCL’s FY10 utilization rate of 57% leaves sizeable room for further volume growth....

 

Investment »

Persistent Systems 

Reported higher than expected revenue growth of 8.8%QoQ to USD47mn due to good volume growth of ~8%QoQ and yield increase of 0.6%QoQ. EPS stood at Rs8.3, 8.6%QoQ decline. Business momentum is 

 

Corporate Report » 
Muthoot Finance IPO 

Muthoot Finance Ltd. (MFL) is the largest gold financing company in India in terms of loan portfolio (AUM of Rs130bn as on Nov’10), with a market share of 19.5% as on FY10.....

 

Analyst Corner » 
GVK Power & Infrastructure 

Our rough capex estimates and equity requirement for growth proposals (Eg: Indo airports, Australian coal mine, possibly Navi Mumbai airport if GVK wins the bid, etc) are to the tune of US$7.4B and US$2.1B

 

Focus


Property - Prices rise, response wanes 

Prices are up 10% versus those at the time of the previous exhibition and attendance seemed muted. Our top picks are (1) Sobha (BUY, TP Rs380) – Bengaluru residential, Oberoi (BUY, TP Rs305) – visible NAV, cash and (3) Phoenix (BUY, TP Rs300)

 

Hindsights


India – Agriculture at the cross roads 

A critical feature of Indian agriculture has been the deceleration in food grain production. In the 1980’s, agricultural production increased by a cumulative 32%. In the 1990s, it slowed to 24% and further to 19% in the next decade. In fact, output growth has not even kept pace with population growth so much so, that the per capita availability of food has tapered off...

 

 

Disclaimer : This report is for the personal information of the authorized recipient and does not construe to be any investment, legal or taxation advice to you. And not soliciting any action based upon it. The report is based upon information that we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied upon such. We or any of its affiliates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report

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