Oil and Natural Gas Corporation, ONGC touched an intraday high of Rs 1,161.90 and an intraday low of Rs 1,095. At 11:30 am, the share was quoting at Rs 1,156.10, up Rs 56.55, or 5.14%.
It was trading with volumes of 262,237 shares. Yesterday the share closed up 0.12% or Rs 1.35 at Rs 1,099.55.
Showing posts with label Stock news. Show all posts
Showing posts with label Stock news. Show all posts
Friday, July 31, 2009
Wednesday, July 29, 2009
Gammon India faces 2-yr ban from DMRC; stock plunges
Gammon India touched an intraday high of Rs 145 and an intraday low of Rs 130.10. At 10:11 am, the share was quoting at Rs 140.85, down Rs 7.75, or 5.22%.
In the aftermath of Delhi Metro mishap that took place recently, Delhi metro chief E Sreedharan has said that Gammon India has taken off all contracts awarded to it. And the company may get blacklisted for 2 years,
It was trading with volumes of 498,689 shares. Yesterday the share closed up 4.46% or Rs 6.35 at Rs 148.60.
In the aftermath of Delhi Metro mishap that took place recently, Delhi metro chief E Sreedharan has said that Gammon India has taken off all contracts awarded to it. And the company may get blacklisted for 2 years,
It was trading with volumes of 498,689 shares. Yesterday the share closed up 4.46% or Rs 6.35 at Rs 148.60.
Tuesday, July 28, 2009
Investment Strategy: Buy JK Lakshmi Cement Ltd.- Price Target: Rs 158
We are recommending a Buy on JK Lakshmi cement with a price target of Rs.158.
Investment Highlights
Topline up by 30.20%: Net sales for the Q1FY10 increased by 30.20% to
Rs. 350.81 Cr compared to Rs. 269.43Cr during the corresponding quarter
previous year. This is on the back of 11% increase in production and 14 %
growth in despatches.
Net profit increased by 102.87%: The company posted a robust growth
in its profit to Rs.78.49 Crores for Q1FY10 an increase of 103% (YoY).
This is mainly on the back of higher realizations.
Increase in operating margin: The operating margin of the company
improved to 34% in Q1FY10 from 24% in Q1FY09. Lower fuel, power cost
and higher realizations resulted in improved operating margins.
Full year performance: For the full year FY09 the company saw a 10%
growth in its topline to Rs.1223.90crores (YoY). The bottomline of the
company saw a decline of 25% to Rs.175.27 Crores due to increase in
input cost particularly in fuel cost.
Capacity addition to drive volumes: The production capacity of the
company increased from 3.65 million tpa to 4.75 million tpa in FY09, an
increase of over 30%. The full capacity will be on stream during FY10,
which will add to the higher volumes.
Greenfield expansion: The company is setting up a green field cement
plant at durg in the state of chattisgarh, with an annual capacity of 2.7
million tonnes and is expected to be commissioned by 2011.
Captive power plant to save cost: The company is setting up a waste
heat recovery power plant with an estimated outlay of Rs. 125 crore. The
project is aimed to generate 12 mw of power and it will be commissioned
by March 2011.Further the company is also planning to set up 18 mw
power plant at sirohi. Both the above-mentioned capacity along with
existing capacity will take the total capacity of the company to 66mw.This
will minimize cost for the company.
Valuation
We expect a stronger topline and bottomline growth on the back of improved
demand, higher price realization, capacity expansion and savings from captive
power plant. At the CMP of Rs. 131.55, JK Lakshmi is trading at 3.03x its TTM
earnings. We recommend a BUY on the stock with a (3-6 month) price target of
Rs.158.
Industry: Cement
Price Data
Current Price (Rs) 131.55
52 wk range (Rs) 133.00-31.00
Stock Data
Mkt Cap (Rs Cr) 804.82
No. of shares o/s(Cr) 6.118
Free float (%) 54.49
Key Indicators
TTM EPS (Rs) 43.39
PAT Margin (%) 22.37%
Code
NSE JKLAKSHMI
BSE 500380
Reuters JKCR.BO
Bloomberg JKLC.IN
Investment Highlights
Topline up by 30.20%: Net sales for the Q1FY10 increased by 30.20% to
Rs. 350.81 Cr compared to Rs. 269.43Cr during the corresponding quarter
previous year. This is on the back of 11% increase in production and 14 %
growth in despatches.
Net profit increased by 102.87%: The company posted a robust growth
in its profit to Rs.78.49 Crores for Q1FY10 an increase of 103% (YoY).
This is mainly on the back of higher realizations.
Increase in operating margin: The operating margin of the company
improved to 34% in Q1FY10 from 24% in Q1FY09. Lower fuel, power cost
and higher realizations resulted in improved operating margins.
Full year performance: For the full year FY09 the company saw a 10%
growth in its topline to Rs.1223.90crores (YoY). The bottomline of the
company saw a decline of 25% to Rs.175.27 Crores due to increase in
input cost particularly in fuel cost.
Capacity addition to drive volumes: The production capacity of the
company increased from 3.65 million tpa to 4.75 million tpa in FY09, an
increase of over 30%. The full capacity will be on stream during FY10,
which will add to the higher volumes.
Greenfield expansion: The company is setting up a green field cement
plant at durg in the state of chattisgarh, with an annual capacity of 2.7
million tonnes and is expected to be commissioned by 2011.
Captive power plant to save cost: The company is setting up a waste
heat recovery power plant with an estimated outlay of Rs. 125 crore. The
project is aimed to generate 12 mw of power and it will be commissioned
by March 2011.Further the company is also planning to set up 18 mw
power plant at sirohi. Both the above-mentioned capacity along with
existing capacity will take the total capacity of the company to 66mw.This
will minimize cost for the company.
Valuation
We expect a stronger topline and bottomline growth on the back of improved
demand, higher price realization, capacity expansion and savings from captive
power plant. At the CMP of Rs. 131.55, JK Lakshmi is trading at 3.03x its TTM
earnings. We recommend a BUY on the stock with a (3-6 month) price target of
Rs.158.
Industry: Cement
Price Data
Current Price (Rs) 131.55
52 wk range (Rs) 133.00-31.00
Stock Data
Mkt Cap (Rs Cr) 804.82
No. of shares o/s(Cr) 6.118
Free float (%) 54.49
Key Indicators
TTM EPS (Rs) 43.39
PAT Margin (%) 22.37%
Code
NSE JKLAKSHMI
BSE 500380
Reuters JKCR.BO
Bloomberg JKLC.IN
Buy sugar stocks on dips: Sukhani
Technical Analyst, Sudarshan Sukhani is of the opinion that momentum traders can buy sugar stocks on dips.
Sukhani told , "Shree Renuka is touching all time highs so that is certainly the leader in this pack. Balrampur Chini has a better chart because it corrected much less as compared to Bajaj Hindusthan, but beyond that, probably Bajaj Hindusthan had run up more than it was justified. So essentially the message is that sugar is a buying opportunity for momentum traders, I don’t know about investing in this sector, it’s difficult to make that judgment, but this is all about momentum. So in sugar you go long and if you buy it on the dips you are going to make some money on these stocks."
Sukhani told , "Shree Renuka is touching all time highs so that is certainly the leader in this pack. Balrampur Chini has a better chart because it corrected much less as compared to Bajaj Hindusthan, but beyond that, probably Bajaj Hindusthan had run up more than it was justified. So essentially the message is that sugar is a buying opportunity for momentum traders, I don’t know about investing in this sector, it’s difficult to make that judgment, but this is all about momentum. So in sugar you go long and if you buy it on the dips you are going to make some money on these stocks."
Gammon India plunges 14%
Gammon India touched an intraday high of Rs 146.45 and an intraday low of Rs 121.25. At 12:18 pm, the share was quoting at Rs 122.25, down Rs 20, or 14.06%.
It was trading with volumes of 149,320 shares. Yesterday the share closed down 2% or Rs 2.90 at Rs 142.25.
It was trading with volumes of 149,320 shares. Yesterday the share closed down 2% or Rs 2.90 at Rs 142.25.
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