SREI Infrastructure Finance

Investors with a short-term trading perspective can buy the stock of SREI Infrastructure Finance. The stock is moving in a sideways channel with an upward bias since last June. Within this channel, the stock is in a medium term uptrend since February 2010.

SREI Infrastructure Finance

Investors with a short term perspective can buy SREI Infrastructure Finance. This stock has been witnessing brisk action over the last three trading sessions. The 7 per cent gain recorded on Wednesday has helped the stock close above both its 50- and 200-day moving averages. The sideways correction recorded by this stock since June has taken the form of an ascending triangle with the upper boundary at Rs 88 and rising troughs formed in July 2009 and February 2010. The stock has the potential to rise to Rs 125 over the medium-term and swing traders can buy with the stop at Rs 60. Oscillators in the daily chart support the continuation of the current up-move. 14-day relative strength index has moved in to the bullish zone and is positioned at 60 while the rate of change oscillator has move into positive territory. There could be some steam left in the short-term to take the stock higher to Rs 77 or Rs 81 in the sessions ahead. Short-term investors can therefore buy the stock with stop at Rs 71.

via BL

Bharat Electronics, Blue Star, Areva T&D, NTPC, Geometric, HT Media, Shree Cements, Andhra Bank, SREI Infrastructure Finance

Bharat Electronics, Blue Star, Areva T&D, NTPC, Geometric, HT Media, Shree Cements, Andhra Bank, SREI Infrastructure Finance

GAIL (India), Srei Infrastructure Finance,Hindustan Unilever,Sesa Goa, Aban Offshore, Economy

GAIL (India), Srei Infrastructure Finance,Hindustan Unilever,Sesa Goa, Aban Offshore, Economy

GAIL, SREI Infrastructure Finance, Hindustan Unilever, Sesa Goa, Aban Offshore, India Economy

GAIL, SREI Infrastructure Finance, Hindustan Unilever, Sesa Goa, Aban Offshore, India Economy

United Phosphorus , Hindalco, SREI Infrastructure Finance, Valuations

United Phosphorus , Hindalco, SREI Infrastructure Finance, Valuations

SREI Infrastructure

We recommend a buy in SREI Infrastructure Finance stock from a short-term trading perspective. It is evident from the charts of this stock that it was on an intermediate-term downtrend from August 2008 high to early December 2008 low (from Rs 130 to Rs 35). This December low is also its 52-week low and a significant long-term support level for the stock. It recently bounced up, forming a double bottom around the previous trough at Rs 35. On January 2, the stock conclusively penetrated its intermediate-term down trendline as well as 21-day moving average by jumping 11 per cent. The volume was heavy during this jump. The daily relative strength index (RSI) is rising in the neutral region towards the bullish zone and weekly RSI is recovering from the oversold territory. Considering the penetration of the stock’s intermediate-term down trendline and the presence of significant support band at Rs 35 to Rs 40, we are bullish on it from a short-term perspective. We expect the stock to move up until it hits our price target of Rs 52 in the approaching trading sessions. Traders with short-term perspective can buy the stock while maintaining a stop-loss at Rs 43.

via BL

SREI Infrastructure

SREI Infrastructure

BPCL, SREI Infrastructure, Zee Entertainment

BPCL, SREI Infrastructure, Zee Entertainment

SREI Infrastructure

SREI Infrastructure

Rajesh Exports, SREI Infrastructure Finance, Telecom

Rajesh Exports, SREI Infrastructure Finance, Telecom

ONGC, DLF, Sterlite, IOC, Nestle, Unitech, IOB, Mphasis, Tata Tea, Kalpataru, ABG Shipyard, Vardhaman Textiles, BHEL, HDFC, Max India, SREI,Economy,

ONGC, DLF, Sterlite, IOC, Nestle, Unitech, IOB, Mphasis, Tata Tea, Kalpataru, ABG Shipyard, Vardhaman Textiles, BHEL, HDFC, Max India, SREI,Economy, Banking, Real Estate

Emkay - SREI Infrastructure Finance, Karvy - Cadila Healthcare

Emkay - SREI Infrastructure Finance, Karvy - Cadila Healthcare

ABG Shipyard, SREI Infrastructure Finance, HDFC, Insurance

ABG Shipyard, SREI Infrastructure Finance, HDFC, Insurance

Sharekhan Investor's Eye dated June 01, 2007

Crompton Greaves
Cluster: Apple Green
Recommendation: Buy
Price target: Rs280
Current market price: Rs250

Price target revised to Rs280

Result highlights

• Crompton Greaves Ltd's (CGL) revenues grew by 25% year on year (yoy) in Q4FY2007 to Rs990.0 crore. The revenues were slightly below our expectations. The top line of the power system division grew by 37.1% to Rs560.1 crore. The revenues of the consumer product division grew by 9.3% to Rs276.7 crore while that of the industrial system division rose by 22.2% to Rs240.8 crore.
• The operating profit margin (OPM) of CGL improved by 80 basis points to 11.5% from 10.7% in Q4FY2006. The raw material cost/sales ratio rose by 40 basis points to 71.4 % in Q4FY2007 from 71.0% in Q4FY2006. However, lower employee and other expenses helped in the overall improvement in the OPM. The operating profit grew by 34.2% to Rs114.3 crore.
• The profit before interest and tax (PBIT) margin of the power system division improved by 450 basis points to 13.9%. The consumer product division's PBIT margin improved by 50 basis points and the industrial system division's PBIT margin improved by 450 basis points on a year-on-year (y-o-y) basis.
• Consequently, the profit before tax (PBT) increased by a strong 36.5% to Rs106.3 crore.
• CGL provided for full tax rate in Q4FY2007 as against the minimum alternate tax (MAT) rate in Q4FY2006. The increased tax provisioning led to a lower bottom line growth of 24.7% to Rs69.9 crore.
• The stand-alone order book grew by 40% to Rs2,300 crore. The consolidated order book stood at Rs4,400 crore out of which Rs2,100 crore came from Pauwels and Ganz Transelektro Villamossagi Zrt (GTV).
• In view of the robust top line growth, expansion in margins, continued good performance of Pauwels and the expected stabilisation in the operations of GTV in FY2008, we are maintaining our FY2008 estimates. At the current market price, the stock is trading at 23.9x its FY2008E consolidated earnings and 13.6x its FY2008 EV/earnings before interest, depreciation, tax and amortisation (EBIDTA). We believe that these valuations are attractive because of (a) the robust operating performance of the stand-alone company; (b) higher geographical reach and product depth of its subsidiaries; and (c) its management's expertise in turning around loss-making subsidiaries. We maintain our Buy recommendation on the stock with a revised price target of Rs280.

Madras Cement
Cluster: Cannonball
Recommendation: Buy
Price target: Under review
Current market price: Rs2,800

Q4FY2007 results: First-cut analysis

Result highlights

• The cement volumes of Madras Cement grew at a slower rate of 13% to 1.48 million metric tonne (MMT) in Q4FY2007. The volume growth was lower because the company's plant at Alathiyur was shut down for 15 days on account of maintenance work. The realisation growth was strong at 27% year on year to Rs2,923 per tonne. This resulted in a robust top line growth of 45.1% year on year to Rs435 crore.
• The operating expenditure increased by 29.4% year on year to Rs301.8 crore as the power and fuel cost increased by 25% year on year to Rs85 crore on the back of higher international coal prices and increased freight cost. The freight cost increased by 35% year on year to Rs72.8 crore during the quarter. The employee cost too jumped substantially to Rs18 crore from Rs12 crore in the previous quarter on account of the bonuses given to employees.
• The operating profit doubled year on year to Rs133 crore whereas the operating profit margin improved by 800 basis points year on year to 30%. On a sequential basis, the operating profit margin dropped by 270 basis points.
• The interest cost reduced by Rs3 crore year on year to Rs6 crore, thanks to the repayment of debt in the quarter. The depreciation provision remained more or less flat sequentially at Rs18.2 crore.
• With the tax provision made at a marginal rate, the net profit jumped by 117% year on year to Rs71 crore.
• We will update you with a detailed report on the company's fourth quarter results as and when we get in touch with its management.

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VIEWPOINT

SREI Infrastructure Finance

SREI, BNP Paribas arm in 50:50 JV
SREI Infrastructure Finance (SREI) and BNP Paribas Lease Group (BPLG), the leasing arm of BNP Paribas, have reached an agreement regarding a strategic partnership in equipment finance in India.

Sharekhan Investor's Eye dated June 01, 2007

Emkay - Deepak Fertilizers, SREI Infrastructure, Tata Chemicals

Emkay - Deepak Fertilizers, SREI Infrastructure, Tata Chemicals

Edelweiss - Rollover Analysis & SREI Infrastructure

Edelweiss - Rollover Analysis & SREI Infrastructure

Emkay - SREI Infrastructure Finance

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