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Godrej Industries’ Q2 net profit goes up by 244%

Godrej Industries, a subsidiary of Godrej & Boyce Mfg. Co. Limited, has registered a consolidated net profit of Rs 66.67 crore for the second quarter ended September 30, up 244 per cent, compared to net profit of Rs 19.4 crore in the same period last year.

However, the company witnessed a decline of 7 per cent in its total income, which dropped to Rs 896.17 crore in the quarter ended September 30, against total income of Rs 965.27 crore in the same period last year.

On standalone basis, Godrej Industries has posted a net profit of Rs 36.43 crore in July-September quarter, against net loss of Rs 9 crore in the same period previous quarter.

Godrej Industries Limited engages in the manufacture and marketing of oleo-chemicals, oleo-chemical precursors and derivatives, and bulk edible oils in India and internationally.

The stock of the company closed on Friday at Rs 178, down 2 per cent to its previous close.

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Educomp Solutions registers three-fold jump in Q2 net profit

Educomp Solutions, leading education solutions provider, has registered a three-fold jump in its consolidated net profit for the second quarter ended September 30.

During the reporting quarter, the company has posted a net profit of Rs 117 crore, against like period year ago.

Educomp functionaries stated in a communiqué that company’s total revenue soared to Rs 253.51 crore in the latest quarter of the current year, as compared to Rs 132.15 crore in the comparable period a year before

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Sterlite Industries

Stock market analyst Ashwani Gujral maintained 'Buy' rating on Sterlite Industries to achieve a short term target of Rs 855.

According to Mr. Gujral, interested investors can buy the stock with a strict stop loss of Rs 710.

Today (Oct 30), the shares of the company opened at Rs 763 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 8.78 & 88.72 respectively. The share price has seen a 52
-week high of Rs 879.70 and a low of Rs 195.05 on BSE.

Sterlite Industries announced that its profit for the quarter ended Sept 30, fell 24.91% to Rs 9,588.5 million as against Rs 12769.4 million during the same quarter last year.

The company's net sales dangled 7.71% to Rs 60,854.6 million.

The total income of the company has dropped 9.55% to Rs 65,178.00 million from Rs 72,058.20 million for the quarter ended Sept 30, 2008.

Moreover, Sterlite Industries declared that it will lift up $500 million from the American market to part finance extension of copper business and business acquirements.

Sterlite Industries has offered to sell senior notes that would be convertible into ADS, which in turn are likely to bring about gross earnings of $500 million.

The company plans to utilize the income from the offering for the growth of its copper business with associated power facility and acquirement of complementary businesses outside the country.

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Buy SAIL For Target Rs 195: Ashwani Gujral

SAIL

Stock market analyst Ashwani Gujral has maintained 'Buy' rating on Steel Authority of India Ltd (SAIL) to achieve a target of Rs 195 in 1-2 trading sessions.

According to Mr. Gujral, interested traders can buy the stock with a strict stop loss of Rs 158.

The shares of the company on Thursday (Oct 29) closed at Rs 168.05 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 197.50 and a low of Rs 55.25 on BSE. Current EPS and P/E of the stock stood at 13.58 & 12.70 respectively.

SAIL, on Oct 23, declared that the steel ministry has given `in principle` authorization of department of disinvestment for further public offer (FPO) equal to 10 per cent of subsisting paid-up equity capital by the company.

Besides, it has approved disinvestment of equal size of equity held by Indian administration in two discrete percentages, each comprising 5% of FPO + 5% offer for sale.

This is subject to accomplishment of certain terms comprising obtaining authorization of cabinet committee on economic affairs (CCEA).

After CCEA authorization, the timing for the above offers would be determined viewing, inter-alia, SEBI rules and persisting market considerations and also execution of conditions, if any, stipulated in the CCEA authorization.

Steel Authority of India (SAIL) also declared that it will not raise its products costs for November following stable market situation.

The company has increased steel rates in Aug and Sept by up to Rs 1,500 per ton. Owing to the downfall in the global market, the company SAIL decided against raising steel prices in October.

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Intraday Buy Call For IVRCL Infra

IVRCL Infra wins seven various projects worth Rs 670 crore

Stock market analysts have maintained 'buy' rating on IVRCL Infrastructure & Projects Ltd with an intraday target of Rs 348.

According to them, interested traders can purchase the stock above Rs 343 with a strict stop loss of Rs 340. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 355.

Shares of the company, on Thursday (Oct 29), closed at Rs 343.40 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 16.37 and 21.36 respectively. The share price has seen a 52-week high of Rs 424.80 and a low of Rs 75.35 on BSE.

IVRCL Infrastructure and Projects is all set to declare its results for the three month period ended Sept 30, 2009.

According to estimations, the company's Q2FY10 net sales are seen up 23 per cent at Rs 400.40 crore as against Rs 1136.6 crore, YoY.

The company OPM is seen up at 9.10 per cent as compared to 8.03 per cent.

IVRCL Infra's PAT is seen up 14 per cent at Rs 65.06 crore versus Rs 57.1 crore

On Oct 08, the company bagged orders worth Rs 5.23 billion from a government body in Uttar Pradesh and a Pune-based firm.

IVRCL Infra pocketed Rs 2.87 billion deal from U. P. Jal Nigam for sewerage works for Allahabad city to be finished in 36 months.

The second order valued at Rs 2.36 billion for construction of five buildings, a hotel and a hospital building was from Kakade Infrastructure, Pune.

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Intraday Buy Call For Voltas

Voltas

Stock market analysts have maintained 'buy' rating on Voltas with an intraday target of Rs 157.

According to them, interested traders can purchase the stock above Rs 154 with a strict stop loss of Rs 151. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 160.

Shares of the company, on Thursday (Oct 29), closed at Rs 153.60 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 7.85 and 20.11 respectively. The share price has seen a 52-week high of Rs 170.10 and a low of Rs 31.10 on BSE.

Voltas, a Tata group enterprise, has registered an increase of 48.08% in its consolidated net profit for the three month period ended Sept 30, 2009.

During the third quarter, the company's consolidated profit stood at Rs 903.30 million as compared to profit of Rs 610 million during the corresponding period of the last year.

During the period under review, the company's consolidated total income surged 11.49% to Rs 11,141.70 million.

On a standalone basis, the company's profit saw an increase of 29.67% at Rs 806.4 million.

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Sell HDIL With Stoploss Of Rs 329

Housing Development and Infrastructure Ltd (HDIL)

Stock market analysts are of the view that investors can sell Housing Development and Infrastructure Ltd (HDIL) stock with a target price between Rs 321-318.

According to them, investors can sell the stock below Rs 325 with a strict stop loss of Rs 329.

If the stock fell below Rs 315, it may see more weakness.

Shares of the company, on Thursday (Oct 29), closed at Rs 329 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 410.80 and a low of Rs 62.50 on BSE. Current EPS & P/E ratio stood at 18.25 and 18.68 respectively.

After selling the stock, the interested investors can enter the stock again at a low price, for medium or long term prospective.

The depression in realty market, mainly in the commercial properties' sector, has pushed down HDIL's profits. The company's profit fell 44.07% to Rs 148.59 crore as against Rs 265.68 crore during the corresponding quarter of the last financial year.

HDIL also witnessed its income descending by 25.93%. The income for the second quarter of the existing fiscal stood at Rs 353.70 crore.

After the results declaration, HDIL's shares dropped 3.53% on Thursday.

The company's half year profit was down 56.12%. HDIL recorded half yearly profit of Rs 256.06 crore, which recorded a fall of 38.04%.

While updating on the quarterly outcomes, HDIL also said that it has brought the arrears to a great extent.

Moreover, HDIL is thinking over a non-convertible debenture (NCD) issue by 2010 in order to lessen its borrowings costs that are presently at 12%.

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Bank Of Baroda Intraday Buy Call

Bank of Baroda

Stock market analysts have maintained 'buy' rating on Bank Of Baroda with an intraday target of Rs 520.

According to them, interested traders can purchase the stock above Rs 513 with a strict stop loss of Rs 506. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 525.

Shares of the bank, on Thursday (Oct 29), closed at Rs 512.55 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 548 and a low of Rs 180.50 on BSE. Current EPS & P/E ratio stood at 74.44 and 7.09 respectively.

Bank of Baroda (BOB) has declared a phenomenal growth in its standalone net profit for the three month period ended Sept 30, 2009.

During the period, the bank's profit increased 60.43% to Rs 6,341.80 million as against Rs 3,952.90 million in the same quarter of 2008.

Interest earned during the period surged 16.46% to Rs 41,354.20 million, whereas total income zoomed 17.48% to Rs 47,307.50 million.

The bank recorded earnings of Rs 17.41 per share during the quarter, recording 60.46% growth over prior year period.

The bank provides personal and business banking solutions comprising deposits, loans, credit cards, advances etc; business banking such as cash management and remittances, checks, merchant banking etc.; global business consists of import finance and international treasury.

On Oct 28, Baroda Legal & General Life Insurance, which is an insurance project promoted by BoB, stated that it is anticipating IRDA authorization by November-end.

The projected venture should underwrite its first plan before March next year

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Mahindra & Mahindra, leading automotive company based in India, has posted fantastic results for the quarter ended September 30.

Mahindra & Mahindra net profit zooms 242%

Mahindra & Mahindra

The company has registered a phenomenal growth of 242% in its net profit which stood at Rs 703 crore in the three month period ended September 30.

In the comparable period a year before, the company has clocked a net profit of Rs 206 crore.

The company has informed in a regulatory statement that its gross revenue as well as other income for the reporting quarter surged 40% to Rs 5,189 crore as compared with Rs 3,935 crore a year ago.

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Aban Offshore Ltd Intraday Buy Call

Stock market analysts have maintained 'buy' rating on Firstsource Solutions Ltd with an

intraday target above Rs 1435.

According to them, interested traders can purchase the stock above Rs 1420 with a strict stop loss of Rs 1390. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 1460.

Shares of the company, on Wednesday (Oct 28), closed at Rs 1388.05 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 71.29 and 19.23 respectively. The share price has seen a 52-week high of Rs 1679.50 and a low of Rs 224.10 on BSE.

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Sintex

Stock market analysts have maintained 'buy' rating on Sintex India with an intraday target of Rs 228.

According to them, interested traders can purchase the stock above Rs 226 with a strict stop loss of Rs 223. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 230.

Shares of the company, on Wednesday (Oct 28), closed at Rs 222.10 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 270.90 and a low of Rs 70.30 on BSE. Current EPS & P/E ratio stood at 18.31 and 12.01 respectively.

Sintex Industries, the biggest integrated plastic processing capacities in the country, posted a sharp decline in standalone net profit for the three month period ended Sept 30, 2009.

During the period, the company's profit fell 31.13% to Rs 469.95 million as against Rs 682.41 million during the same quarter last year.

The company's net sales dropped 5.43% to Rs 4,151 million, whereas total income descended 8.83% to Rs 4,209.36 million.

Sintex recorded EPS of Rs 3.47 during the quarter, recording 31.15% declension over prior year period.

SIL makes over 50 types of plastic and related products of different shapes and sizes that come under six broad categories such as building and construction, prefabs, interiors, industrial, electrical sector and consumer.

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Balrampur Chini Q3 net profit jumps four-fold to Rs 66 crore

Stock market analysts have maintained 'Sell' rating on Balrampur Chini Mills Ltd (BCML) to achieve a target that lies between Rs 148-145 today.

The investors are advised to sell the stock to avoid loss, as there are full chances of a downward trend in this stock in today's session.

If the stock fell below Rs 142, it may see more weakness.

According to analysts, investors can sell the stock below Rs 150 with a strict stop loss of Rs 152.

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Sell Mahindra & Mahindra With Stoploss Of Rs 890

Mahindra & Mahindra

Stock market analysts are of the view that investors can sell Mahindra & Mahindra stock with a target price between Rs 875-860.

According to them, investors can sell the stock below Rs 882 with a strict stop loss of Rs 890.

If the stock fell below Rs 855, it may see more weakness.

Today (Oct 29), the stock opened at Rs 874.90 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 37.55 and 23.21 respectively. The share price has seen a 52-week high of Rs 981 and a low of Rs 235.50 on BSE.

After selling the stock, the interested investors can enter the stock again at a low price, for medium or long term prospective.

Auto manufacturer Mahindra & Mahindra has rolled out a compact truck 'Gio', which is meant for intra-city processes.

'Gio', which costs around Rs 1,650 billion, is aimed specifically at rustic and semi-urban customers.

Pawan Goenka, M&M, President (Automotive Sector), stated that the early production capacity for the compact truck stands at 20,000 units on an annual basis.

He said that the company can easily raise the said capacity to 30,000 units in the short run.

Hyundai Motor India, on Oct 27, has taken Mahindra Renault to the Delhi High Court objecting to the Mahindra Renault plan to unveil a compact car in India under the name `Sandero` alleging that the competitor was seeking to cash in on its well-known brand Santro with a similar sounding product.

HMIL's appeal demands the court not to permit Mahindra Renault to introduce the car under the name Sandero.

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Tata Power Long Term Buy Call:

EIH Associated hotels limited was incorporated on 21st March 1983 as a public limited company in the state of Tamil Nadu and obtained Certificate of Commencement on 10th June with brand name "Pleasant Hotels". In 1989 name of the Company was changed from Pleasant Hotels, Ltd. to Oberoi Associated Hotels, Ltd. effective from 25th October.

The Oberoi Group holds the controlling interest in EIH Associated Hotels Ltd (EIHL) (erstwhile Oberoi Associated Hotels). The Rane Group promoted the Company. Later, company proposed to set up "Ramada Madras" a 5 star deluxe hotel adjacent to Chennai airport. For the purpose of technical installations and utilities Gherzi Eastern Ltd., a Mumbai based company, was appointed to provide detailed architectural planning and designing. On 1st November 1996 name of the company has been changed to EIH Associated Hotels Ltd. with effect. Company has also opened its deluxe hotel "Rajvilas" in Jaipur.

In 2001, EIH Associated Hotels Ltd has acquired about 1.62 lakh sq ft of space at the Bandra-Kurla complex in Mumbai from the Mumbai Metropolitan Regional Development Authority for Rs 121 crore. Company owns and operates the Oberoi hotels. ITC has marginally hiked its stake in EIH to 14.9 per cent during September 2002. The move has sparked speculation about ITC's intention regarding one of the most prestigious hotel chains in the country, which owns and manages the Oberoi group of hotels. The company did not predict any possible move by ITC, which has a stake in EIH.

Products & services:

EIH Associated hotels are the operator of the Oberoi and Trident brands and the third- largest hotel chain behind Indian Hotels and ITC. Company provides its services at "International Quality standards". EIH associated hotels has chain of hotels at various tourist & business locations. Company has hotel named "Ramada Madras" a 5 star deluxe hotel adjacent to Chennai airport.

Company has various Business collaborations to provide High Quality & Satisfaction Standards for its customers. Company has its deluxe hotel "Rajvilas" in Jaipur. The Trident is the brand name used by the Oberoi Group for its 4 star & 5 star categories of hotels. EIH Associated hotels have a management agreement with EIH Ltd for management of The Trident. EIH Ltd charges a management fee of 12.5% of gross earnings for its services. Company owns & operates various hotels in Domestic & international places. In India, Company has presence in Delhi, Mumbai, Banglore, Cochin, Udaipur, Sawai madhopur, Jaipur, Agra, Shimla etc. In international space company has hotels in Mauritus, Australia, Indonesia, Saudi Arabia, Egypt etc.

Valuation:

Company is expanding its fleet to new areas and increasing its room capacity. At current market price, stock is trading at 16.24 P/E multiple of its FY2011 Estimated earnings. We recommend investors buy "EIH Associated hotels limited" with medium to long-term investment horizon.

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FirstSource Solutions trading 5% higher

Stock market analysts have maintained 'buy' rating on Firstsource Solutions Ltd with an intraday target above Rs 31.

According to them, interested traders can purchase the stock around Rs 29-30 with a strict stop loss of Rs 28. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 33.

Shares of the company, on Tuesday (Oct 28), closed at Rs 31.15 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 2.30 and 13.24 respectively. The share price has seen a 52-week high of Rs 37.80 and a low of Rs 9.50 on BSE.

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