Reliance Communications (RCom) stock surged more than 8% yesterday on news that it will buyback FCCBs at a discount of 52.5% for $25 million, becoming the first Indian company to do so after RBI relaxed the norms. R-Com had issued zero-coupon FCCBs in February 2007, to raise USD 1 billion. The premature buy (more…)

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Company Overview:
Established in 1888 and incorporated in 1920, Kirloskar Brothers Limited (KBL) is the flagship company of the Kirloskar group. The core businesses of KBL are large Infrastructure projects (Water Supply, Power Plants, Irrigation), Project and Engineered Pumps, Industrial Pumps, Agriculture and Domestic Pumps, Valves, Hydro turbines, Power Generation and anti Corrosion Products. (more…)

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As expected, Gujarat NRE Coke, country’s largest independent producer of met coke posted a very performance for the second quarter ended 30th September 2008. The second quarter continues to reflect the boom it had in the prices of coke and coal but the coming months would not start reflecting the fall in their prices. (more…)

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ScripScan:Rishi Laser Ltd
Industry:Engineering
BSE:526861
Face Value:10
Target:60
Target percentage:60%+
Duration:6-9months. (more…)

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M Cap: Rs 8,304 crore

Aberdeen Asia Asset Management,headquartered in Singapore, has bought 34,749 shares of GlaxoSmithKline Pharmaceuticals, increasing its shareholding in the  company to 84.77 lakh shares or 10 per cent of the paid-up equity. (more…)

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Ranbaxy Laboratories

Cluster: Apple Green
Recommendation: Hold

Price target revised to Rs257

Result highlights

Ranbaxy Laboratories (Ranbaxy) has delivered a disappointing performance for Q3CY2008. The revenues, operating performance and net profit have been below our estimates, as the quarter had its challenges including unprecedented foreign exchange (forex) movement and losses relating to the turn of events in the USA (more…)

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Sun Pharmaceutical Industries

Cluster: Ugly Duckling
Recommendation: Buy

Caraco comes under USFDA scanner
The US Food and Drug Administration (USFDA) has issued a warning letter to Sun Pharmaceuticals’ US based subsidiary Caraco Pharmaceutical Laboratories (Caraco), citing lack of adequate quality control procedures (more…)

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Shiv-Vani Oil & Gas Exploration Services
Cluster: Ugly Duckling
Recommendation: Buy

Price target revised to Rs482

Result highlights

The Q2FY2009 numbers of Shiv-Vani Oil and Gas (Shiv-Vani) are marginally above our expectations. The top line grew by 92.4% year on year (yoy) to Rs187.2 crore, which is more or less in line with our estimate. (more…)

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Patels Airtemp

Cluster: Emerging Star
Recommendation: Buy

Price target revised to Rs103
Result highlights

Patels Airtemp’s Q2FY2009 results are slightly below our expectations on account of a lower than expected growth in its top line. The company’s net sales rose by 26.5% to Rs22 crore in the quarter. (more…)

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Aditya Birla Nuvo
Cluster: Apple Green
Recommendation: Buy
Price target: Rs1,061
Current market price: Rs618

Price target revised to Rs1,061

Result highlights

The consolidated revenues of Aditya Birla Nuvo (ABN) increased by 28.6% year on year (yoy) to Rs3,594.1 crore in Q2FY2009.

The operating profit margin (OPM) declined by 499 basis points to 4.9% in Q2FY2009 primarily due to the losses in the insurance, garment and business process outsourcing (BPO) businesses. Furthermore, margin pressure in the major business segments further deteriorated the overall operating profit margin (OPM). (more…)

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