STOCK UPDATE
 ORG Informatics               
Cluster: Emerging              Star
Recommendation: Buy
Price target: Rs190
Current market              price: Rs174
 Acquisition of              DGIT Solutions
ORG              Informatics (ORG) has acquired 100% stake in Singapore-based DGIT              Solutions Pte Ltd. Earlier, ORG had successfully raised $10 million              through a global depository receipt (GDR) issue in the overseas              markets. The issue had been priced at around Rs155 per share and              resulted in a dilution of the equity base by 28.6 lakh shares. The              company had also considered a preferential issue of 6 lakh warrants              to its investors; the same has now been put on the backburner.              Instead the company is considering dilution of equity through a              fresh issue of shares for its future acquisitions. The additional              dilution will be in line with the preferential issue of warrants              considered earlier.
SECTOR UPDATE
Cement
 Higher base              effect subdues dispatch growth
Cumulatively the cement majors have reported a negative              growth of 1% year on year (yoy) in the cement dispatches during              December to 55.3 lakh tonne. We believe this negative growth can be              attributed to the higher base effect as well as the operations of              the companies at near capacity levels