Order inflow disappoints; downgrade to HOLD:- J Kumar results are inline with our estimates, topline grew by 24% at Rs2.5bn vs our est. of Rs2.45bn. Ebidta margin declined by 82bps YoY to 14.2% and was lower than our est. of 15%, largely due to increase in labour cost and higher diesel and steel prices.
Technical analyst Kiran Jadhav has maintained 'sell' rating on Punj Lloyd Limited stock with targets of Rs 94 and 92.
According to analyst, the investors can sell the stock with a stop loss of Rs 104.
Mr. Jadhav added that it is better to sell the stock at this time as it looks weak.
Today, the stock of the company opened at Rs 98.50 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 221.25 and a low of Rs 96.10 on BSE.
Current EPS is -18.59.
Technical analyst PK Agarwal of Purpleline Investment has maintained 'hold' rating on Ramky Infrastructure Limited stock.
The analyst said that the interested investors can attain the said target with a stop loss of Rs 275.
The stock of the company, on December 30, closed at Rs 307.85 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 460 and a low of Rs 301.15 on BSE.
On the revenue front, the company is eyeing Rs 2700- 2800 crore on a standalone basis during the existing financial year.
Technical analyst PK Agarwal of Purpleline Investment has maintained 'hold' rating on Kalindee Rail Nirman (Engineers) Limited stock.
The analyst said that the stock can be purchased with a stop loss of Rs 162.
The stock of the company, on December 22, closed at Rs 175.70 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 239.90 and a low of Rs 115 on BSE.
Kalindee Rail Nirman (Engineers) registered a phenomenal growth in its standalone net profit for the three month period ended September 2010.
PINC Research has maintained buy rating on IRB Infrastructure Developers Ltd with a price target of Rs 301 in its report dated Dec 15, 2010.
As per report, IRB Infra is a proxy play on the Indian road sector. NHAI awarding is expected to pick up in CY11, IRB is the largest BOT operators in India with in-house execution capabilities; it currently has 16 BOT projects in its portfolio, of which ten are operational, five are under construction, and one is in advance stages of financial closure. IRB appears well positioned to add projects worth US$1bn (about 4-6 BOT projects per annum) without any equity dilution.
Wide Distribution Network and Infrastructure Punjab & Sind bank delivers product and services through a wide variety of distribution channel ranging from bank branches and ATMs. Bank has enviable branch network across India, with a presence predominantly in North India, a region which is rich in resources an offer great North and opportunity for resource mobilization. At present, bank's distribution network comprises 933 branches and 73 ATMs across India.
Growth in Industraila Production for Oct'10 came in at 10.8% beating consensus expectation (8.5%).This was the fastest grwoth in last three months. Spring back in IIP number can be largely attributed to manufacturing output which grew 11.3%.This Idustrial production growth that peaked to 15.1%in July 2010, slipped to 4.4% in the month of Sep' 2010. This cumulative growth for period Apr-Oct'10 stood at 10.3% as against 6.9% for the corresponding period previous year.
Engineering, procurement and construction (EPC) company A2Z infrastructure came up with its initial public offering on Dec 8 and the issue is slated to be open till Dec 10.
Angel Broking one of the major broking firms of the capital with its presence nationwide has mentioned in its research report that the IPO should be avoided. The price band of 400-410 per share seems to be overvalued, of the issue which is planning to collect Rs. 675 crore by 4,556,193 equity shares of Rs 10 each.
IRB stock price has corrected by 34% in the past three months since 23rd Aug 2010, while correcting 17% in the last 3 trading session post the housing finance scam. In our interaction with the management, they clarified no involvement in any unfair practise with the financial/banking entities mentioned in the CBI report.
The fall in stock price is speculative and provides a very healthy entry point for long-term investors.
Stock market analyst Salil Sharma has maintained 'sell' rating on Reliance Infrastructure Limited stock to achieve a target of Rs 975.
According to analyst, the stock can be sold with a stop loss of Rs 1020.
Mr. Sharma said that the interested investors can sell the stock in today's session in order to avoid loss.
Today, the stock of the company opened at Rs 1004 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 1225 and a low of Rs 964 on BSE.
Stock market analyst Pradeep Surekha has maintained 'buy' rating on Infrastructure Development Finance Company Limited (IDFC) stock with a target of Rs 205.
According to analyst, the stock can be purchased with a stop loss of Rs 190.
The stock of the company, on Nov 15, closed at Rs 195.50 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 218.20 and a low of Rs 142 on BSE.
Current EPS & P/E ratio stood at 8.02 and 24.42 respectively.
HCC is one of the largest private sector construction companies in India and the foremost in infrastructure building. Businessman and nationalist, Seth Walchand Hirachand, founded the company. With a vision for a modern and prosperous India, Seth Walchand entered into the core sector of industry and on 27th January 1926 Hindustan Construction Company Ltd.,(HCC) was born. Company started initially with tunneling works has today grown to a Company with a dedicated, experienced and expert team of people achieving remarkable feats in the field of civil engineering construction.
JKumar results are in line, with a PAT of Rs132mn against our expectation of Rs131mn. We are marginally disappointed on the topline front at Rs1700mn against ours Rs1850mn but positively surprised on the EBITDA margin at 15.9% against our 15.7%. We maintain our numbers and also observe that in the last 3months there has been a re-rating in the stock from P/E of 6x-7x one year forward to 8x, which is as per our expectation and we believe the re-rating to continue as the company achieves close to Rs10bn turnover and Rs18bn order book by end of FY11.
IRB reported better-than-expected PAT at Rs991mn, 40% YoY vs. our estimate of Rs909mn. Sales were in line at Rs4.9bn vs. our estimate of Rs4.86bn. EBIDTA margin in the EPC business continued to be higher at ~23.1% due to lower RM costs.
Larsen and Toubro's (L&T) Buildings and Factories Operating Company, a part of its Construction Division, has pocketed new orders worth Rs 1585 crore during the July-September period for building up residential projects, factories, office space, hotel in addition to add on orders from different continuing projects.
The orders aggregating Rs 435 crore have been pocketed for constructing residential building projects from major developers.
The Infrastructure Development Finance Corporation (IDFC) has recently said that the Indian banking companies should be prohibited to raise money through tax-saving infrastructure bonds.
It is to be mentioned here that the recently objected option is a facility for which banks have been lobbying for. IDFC managing director & CEO Rajiv B Lall made this comment at the launch of the company’s infrastructure bond issue.
Stock market analyst Ashish Chaturmotha of Anand Rathi Securities has maintained 'buy' rating on Larsen & Toubro (L&T) stock to achieve a target of Rs 2080 in 2-3 trading sessions.
According to analyst, the interested investors can buy the stock with a strict stop loss of Rs 1985.
Today, the stock of the bank opened at Rs 2027 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 2074.60 and a low of Rs 1395.50 on BSE.
Current EPS & P/E ratio stood at 53.93 and 37.75 respectively.
Stock market analyst Gajendra Nagpal of Unicon Financil has maintained 'buy' rating on PBA Infrastructure Ltd stock to achieve a target of Rs 105.
According to analyst, the investors can achieve the said target within a period of 12-18 months.
Today, the stock of the bank opened at Rs 91.70 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 107 and a low of Rs 61.50 on BSE.
ON September 22, the company has bagged a deal valued at Rs 2.52 billion from GVK Deoli Kota Expressway (P).
The flagship group of the Ramky Group, Ramky Infrastructure, engrossed in the venture of building and infrastructure growth, has unlocked its Rs 530 crore initial public offer for contribution.
The issue encompasses issuance of unsullied equity shares collective up to Rs 350 crore and a proposal for sale of equity shares totaling up to Rs 180 crore. The price band is made arranged at Rs 405-468 a share.
IVRCL Infrastructures & Projects (IVRCL) announced that it has pocketed a Rs 750-crore road project in the state of Maharashtra.
Construction and Infrastructure major said that the order is for 4 laning and up-gradation of Karanji - Wani - Ghuggus - Chandrapur Road, Maharashtra State Highway- 6 & 7 in Yavatmal and Chandrapur region on DBFOT basis.
The state administration shall offer up a viability gap funding of Rs 2.32 billion.
As per reports, the said order is projected to be finished by the next 2 year.
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