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Sunday, October 16, 2011
MOIL - Buy
India's largest manganese producer, MOIL, has witnessed a 30 per cent correction in its stock price in the last three months following a sharp correction in manganese ore prices and weak global growth outlook. This provides investors the opportunity to accumulate the stock at attractive valuations.
A growing domestic market for steel, industry-topping profit margins, zero debt and high cash reserves make MOIL a very good defensive bet. The stock trades at 8.2 times trailing twelve month earnings which is at a discount to fellow public sector miners such as NMDC. On an EV/EBIDTA basis, the company trades at 3.5 times, which is at discount to global mining peers.
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Saturday, October 15, 2011
Rakesh Jhunjhunwala - Bull market to continue
Rakesh Jhunjhunwala of Rare Enterprises says that the bull market which started in 2001 will continue and Indian equities will outperform global stocks in long term. Bourses across the world have managed to gain during the week as investors took hope from various Euro zone countries coming on board to expand the European Financial Stability Facility - a fund which is supposed to be used to ease out countries from the debt crisis.
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