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Showing posts with label BRICS. Show all posts
Showing posts with label BRICS. Show all posts
Friday, June 20, 2008
BRIC set for a mobile boom: eMarketer
Brazil, Russia, India and China, collectively known as BRIC, represent the next great growth curve for both the mobile and interactive marketing industries, according to eMarketer. It projects that the BRIC countries will account for over 1.7bn mobile phone subscribers by 2012 and expects over 680mn subscribers to access the mobile Internet.
Home to over 40% of the world's population, the BRIC countries form the core of an emergent global middle class that will number over 1bn people by 2015, says eMarketer. Mobile will be the primary interactive screen for this new generation of consumers, and no major advertising agency can pitch a global brand without referencing its BRIC assets and capabilities, especially those in China and India, it adds. Likewise, the largest global telecom companies have bet a large amount of their future growth on sales to BRIC-based mobile operators.
"Mobile is the Internet for an increasingly large and attractive consumer segment an important distinction for marketers to keep in mind," says John du Pre Gauntt, senior analyst and author of the new report, "Mobile BRIC: Extreme Growth Ahead."
"As these huge populations within BRIC accumulate disposable income, they are poised to form interactive relationships with local and global brands primarily through the mobile phone," he adds. "With PC and broadband penetration far below that of mobile, marketers and mobile operators find themselves in uncharted territory."
Five of the world's 10 largest cities are located in BRIC, along with four of the five top markets for new mobile subscribers, says eMarketer. Rapid growth in entertainment and media consumption in the BRIC countries is important for marketers looking to interact with mobile consumers.
Monday, June 11, 2007
Friday, June 08, 2007
Thursday, June 07, 2007
Tuesday, June 05, 2007
Daily Technical Analysis
Market reacts on lower volumes
The Sensex opened positive however, immediately turned down ward and traded lower the trend remained negative throughout, in the end it has given a negative close of 75 points at 14495.77.
Sensex trend indecisive; remain cautious till clear trend emerges
The Sensex as expected moved down ward, it has given a close near the crucial support levels of 14441 (Nifty 4250), its behaviour around this level would be crucial it need to maintain 14441 for the trend to remain positive, in case, the Sensex breaks below 14441 then it could move down to 14366 to 14291 (Nifty 4232 to 4202) range. The nature and extend to which it moves down ward would decide the Sensex future trend. At the lower levels 14046 would be the crucial trend change level for short term
trend below it the trend would have a negative bias.
Wave count: Trend to remain bullish
An alternative count suggested last week looks feasible, were by the Sensex rise between 12711 to 14383 could be considered as a standard corrective pattern there after the Sensex downward move from 14383 to 13554 as wave-x and the present upward beginning from 13554 could be an another standard corrective pattern. As it has been the case in the past, if the pattern formation of the second standard corrective pattern is same as the first standard corrective pattern; the second corrective pattern could then move up to 14914 to 15551 levels by the end of June. All long positions should have a stop loss placed at 13554(Nifty 3981) levels.
Friday, June 01, 2007
Tuesday, May 22, 2007
Saturday, May 19, 2007
Monday, May 14, 2007
Saturday, May 12, 2007
Sunday, May 06, 2007
Monday, April 23, 2007
Thursday, March 29, 2007
Friday, February 16, 2007
Monday, February 12, 2007
Sunday, February 11, 2007
WOW - GACL - Birla Sun Life
Broking House - Birla Sun Life
Recommendation - Sell
Prices to remain stable at the current levels..
In its Report Dated 5th February 2007, Birla Sun Life (BRICS) downgrades Gujarat Ambuja Cements Ltd (GACL) to Sell with a Target of Rs 155 from CMP of Rs 143.
Birla Sun Life (BRICS) states Gujarat Ambuja Cements Ltd (GACL) reported its first quarter results on consolidated basis with Ambuja Cements Eastern Ltd (ACEL). The quarter''s result is better than BRICS estimates, which was based on standalone financials. However, adjusted for ACEL''s volume, GACL''s Q4CY06 earnings are Rs 16 cr below BRICS''s consolidated estimates. Core EBITDA, at Rs 470 cr, is much lower than BRICS consolidated estimates of Rs 546 cr. The negative surprise in PAT is lower, primarily because the tax rate, at 26%, is lower than BRICS''s assumption of 33.6%.
BRICS mentions that the cement prices are not likely to fall much from current level in the next two years but then, the upside is also capped by the recent cut in import duty on cement. Hence, BRICS has not taken any significant rise in realisation the years ahead. BRICS maintains realisation assumption at Rs 163/bag for CY07 and CY08. After consolidation with ACEL, BRICS projecting consolidated P&L for CY07 and CY08. In view of cost pressures, BRICS is cutting consolidated EPS estimate (with ACC) for CY07 from Rs 12 to Rs 11.2, and for CY08 from Rs 12.7 to Rs 11.9.
BRICS highlights that Cement prices have gone up by 5% in past nine months but GACL''s core EBIDTA/tonne has remained more or less stable at Rs 1160-1170. This trend is more or less same for other cement companies as well indicating that cost pressures are being passed on by manufacturers.
BRICS mentions that the recent cut in import duty on cement is an indication of the Government''s intend to curb a runway rise in prices. If cement prices still continue to increase, the Government might even ban exports. As BRICS pointed out earlier, almost all cement companies EBIDTA/tonne has either remained constant or declined in the last three quarters. Mean while, costs have risen along with prices. This means that cement companies have been able to pass on their additional costs to consumers, and BRICS expect the same situation to continue to in years to come.
Finally, BRICS makes us aware that DCF based on mid cycle prices give March 2008 fair value of Rs 161(13.5x CY08E EPS). Taking CY08 being the peak cycle year, it seems highly unlikely that GACL can trade an EV/EBIDTA of more than 13x on CY08 consolidated estimates. Accordingly, BRICS recommended to Sell with a March 2008 target price of Rs 155.
Thanks HK
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