Crude Oil Nymex crude oil prices declined by 3.4 percent in the last week taking cues from cut in the growth forecast for the Euro region by the European Central Bank (ECB), unsolved issue of US fiscal cliff along with strength in the DX. Additionally, rise in the US gasoline inventories which were at highest …
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There are many reasons why a people interested in going for life insurance. Among them following three are the basic purpose, people tend to buy a life insurance policy: 1) To save a considerable amount of personal income tax. 2) Considering financial investment, to make excellent return on maturity. 3) To feel better that one …
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These day people are living for longer than ever before and a lot of their lifestyle will be spending in pension or money saves out of their earnings. If people do not get ready for now it will mean that they will battle at their golden days when they would really enjoy lifestyle. The day …
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The term ‘omnibus’ is the term for one product that contains within a variety of different products. For example, when we say that a publication is an omnibus we mean that it contains a selection of experiences probably by different writers. An omnibus account is also an account that contains a variety of different factors, …
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Mining Group has announced the discovery of a new, high potential mineralised zone at Tagpura North, part of the Comval Project in the , which has delivered peak assays of up to 3.58% copper and 12.52 grams per tonne (g/t) gold from rock chips – some of the highest grades to date. The company has …
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KEFI Minerals has announced an exploration update for the Selib North and Jibal Qutman prospects. In Saudi Arabia. The results of four holes have been released from Selib North and they are relatively shallow, with reasonable widths and economic grades. Trenching results were released for the Jibal Qutman prospect. This is more good news. The …
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For 4QFY2012, SUN TV (STNL) reported a decline in its top-line and bottom-line. The company’s top-line declined by 7.3% yoy to Rs.427cr. OPM contracted by 216bp yoy to 76.9%. Consequently, Net Profit posted sharp decline of 23.7% yoy to 159cr. Key highlights of the quarter: STNL posted a decline in its top-line due to an 8.9% …
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While Tata Consultancy Services (TCS) was able to achieve strong profit growth in FY12, operating cash flow (OCF) growth did not keep pace owing to higher working capital needs and taxes. Vertical-wise, retail drove revenue and profitability, while emerging markets and Europe drove the geographies. TCS added over 70,000 gross employees in FY12. Average revenue/employee …
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The Delhi High Court has quashed the PNGRB’s (Petroleum and Natural Gas Regulatory Board) order dated 9 April 2012, which directed Indraprastha Gas (IGL) to slash network and compression charges in Delhi and adjoining areas. The High Court termed PNGRB’s order as “illegal” and stated the regulator was not “empowered” to fix or regulate the …
Even as Mindtree’s strong EPS growth and out-performance versus consensus expectations (25% EPS beat in 4QFY12) has been a primary stock driver over the past year, a valuation re-rating is yet to fully materialise. The stock trades at 7.7x FY14E EPS, leaving room for further upside, given good revenue growth, improving client metrics, a 23.5% …
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Automobile sales in May 2012 continued to remain subdued as the petrol price hike played spoilsport. Car sales of key players like Maruti Suzuki, Tata Motors, General Motors India and Ford India posted YoY drop in sales. Two-wheeler companies displayed better performance, with most of them posting a MoM growth in sales, largely driven by …
Greenply Industries (GIL) registered strong top-line growth in 4QFY2012. The company’s net sales grew by 31.2% yoy and 9.6% qoq to Rs.459cr. GIL reported a 248bp yoy expansion in its OPM to 10.6%. OPM expanded due to forex gain of Rs.4cr during the quarter. Net profit increased by 174% yoy to Rs.16cr. We believe the …
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For 4QFY2012, Tata Global Beverages (TGBL) posted strong 220% yoy growth in its consolidated adjusted net profit, aided by reduction in interest costs due to repayment of debts and lower tax rate. During the quarter, the company had exceptional expenses of Rs.40cr related to cost incurred for long-term initiatives and new projects, and loss on …
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For 4QFY2012, Simplex Infra’s (Simplex) numbers came broadly in-line with our estimates. At the end of the quarter, the company’s order book increased by 4.0% yoy to Rs.15,224cr (2.5x FY2012 revenue). Simplex had order inflow of Rs.2,606cr for the quarter, taking the order inflow for FY2012 to Rs.6,446cr. Simplex has recently acquired Joy Mining (involved …
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For 4QFY2012, Jaiprakash Associates (JAL) reported in-line performance on the revenue front, but above-expectation numbers on the EBITDAM and PAT level. This outperformance can be attributed to good performance in the construction segment both on the revenue (up 42.6% qoq) and margin front (EBIT margin – 23.9%). Further, JAL’s earnings were aided by lower tax, …
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For 4QFY2012, Jagran Prakashan (JPL) reported a healthy performance on the revenue front compared to its peers. The company reported top-line growth of 10.1% yoy to Rs.303cr. However, the company’s bottom line remained flat on a yoy basis at Rs.43cr due to a 395bp yoy contraction in operating margin. The contraction in OPM was on …
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Consolidated performance a mixed bag: TTMT’s consolidated top line registered impressive 44.3% yoy (12.5% qoq) growth to Rs.50,908cr, aided by 51.5% yoy (10.6% qoq) growth in JLR sales, which were driven by a 48.2% yoy (13.6% qoq) jump in volumes. The company’s operating margin declined by 184bp qoq and stood at 13.2%, as EBITDA margin …
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Q4FY12 results were a mixed bag. While the company missed the revenue numbers, EBIDTA and PAT were better than expected. – Revenues for the quarter were flat QoQ at Rs.5515 crores, while they grew 6% YoY. This was below consensus expectations of Rs.6534 crores by 18.5% mainly on the back of lower revenues from India …
Coal India’s (CIL) 4QFY2012 results were above our estimates due to higher-than-expected realizations. We recommend Accumulate on the stock. Higher realization aids net sales growth: Coal India’s 4QFY2012 net sales increased by 29.4% yoy to Rs.19,419cr (above our estimate of Rs.17,672cr), primarily due to higher average realization. Blended average realization on coal sales increased by …
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Vesuvius India Ltd. (VIL) reported 15.8% yoy top-line growth to Rs.139cr in 1QCY2012 compared to Rs.120cr in 1QCY2011. The increase in raw-material prices and other expenses led to contraction of EBITDA margin by 376bp yoy to 14.9%. Consequently, net profit declined by 11.4% yoy to Rs.12cr in 1QCY2012 from Rs.13cr in 1QCY2011. We recommend an …
For 4QFY2012, Nagarjuna Construction Company (NCC) posted better-than expected numbers on the revenue and earnings front. However, the company disappointed on the EBITDAM level. The current outstanding order book of NCC stands at Rs.20,196cr, with order inflow of Rs.10,116cr (including captive power order worth Rs.5,186cr) for FY2012. We maintain our Buy view on the stock. …
For 4QFY2012, ITC declared strong 26.0% yoy growth in its net profit to Rs.1,614cr, which was ahead of our estimates. During the quarter, the company’s non-cigarette FMCG business reported top-line growth of 23.2% yoy, while the segment’s loss fell substantially to Rs.16.7cr (vs. Rs.67.8cr and Rs.46.6cr in 4QFY2011 and 3QFY2012, respectively). We maintain our Accumulate …
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For 4QFY2012, NMDC’s top line came in-line with our estimates, while its profitability came in ahead of our estimates. We recommend Accumulate on the stock. Realization drops by 10.2% yoy and 9.4% qoq: NMDC’s net sales decreased by 31.2% yoy to Rs.2,595cr (in-line with our estimate of Rs.2,524cr). Blended realization dipped during the quarter (-10.2% yoy …
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Olam Forms Joint Venture With Blommer Blommer Chocolate, the largest cocoa processor and ingredient chocolate supplier in North America and commodities trader Olam International, announced the formation of a joint venture, GrowCocoa on a 50:50 basis. GrowCocoa will bolster the cocoa supply chain based on the combined strengths of both partners; in origin sourcing and …