TODAY SEPTEMBER SERIES EXPIRED , SO WE ARE UPDATING RESULT OF OUR OPTION CALLS HERE, AS WE SUGGEST TO BUY 2 LOT IN ALL CALLS N TO SELL 1 LOT ON MONEY DOUBLE, SO OUR INVESTMENT COME BACK IN HAND N HOLD OTHER LOT TILL EXPIRY..
1.REL 800 CALL WAS GIVEN AT 30 RS, 1 SOLD AT 60 N OTHER TODAY EXPIRED AT 317 RS, BUT WE BOOKED 2ND LOT AT 110 ONLY, BCOZ OF TO MUCH VOLATILITY IN REL, N WE WERE NT INTERESTED THT U TAKE ANY OF THE RISK. REL GIVEN PROFIT OF 110*550=60,500 RS
2. RELCAPITAL 1230 CALL WAS GIVEN AT 52, SOLD 1 LOT AT 104 AS PER OUR RULE N 2ND LOT TODAY EXPIRED AT 254 RS, BUT WE BOOKED 2ND LOT AT 190, BCOZ OF VOLATILITY, RELCAPITAL GIVEN PROFIT OF 1,04,500 RS.
3.RELIANCE 2010 CALL WAS GIVEN AT 39, SOLD 1 LOT AT 78 N 2ND LOT TODAY EXPIRED AT 208, GIVING PROFIT OF 31,200 RS.
4. SBI 1620 CALL GIVEN AT 60 RS, SOLD 1 LOT AT 120 N 2ND LOT TODAY EXPIRED AT 260 RS, GIVING PROFIT OF 65,000 RS
5. HINDUNILEVEL 210 CALL WAS GIVEN AT 4, BOOKED 1 AT 8 N 2ND LOT EXPIRED AT 8.9 RS, GIVING PROFIT OF 8,900 RS.
6.IDBI 125 CALL WAS GIVEN AT 7, SOLD 1 LOT AT 14 N 2ND LOT TODAY EXPIRED AT 26.7, GIVING PROFIT OF 64,080 RS.
7. TATASTEEL 740 CALL GIVEN AT 13.5 RS, SOLD 1 LOT AT 27 N 2ND EXPIRED TODAY AT 45 RS, GIVING PROFIT OF 30,375 RS.
8. JPHYDRO 50 CALL WAS GIVEN AT 4.25, 1 LOT SOLD AT 8.5 2ND LOT EXPIRED TODAY AT 26.85, GIVING PROFIT OF 1,67,812 RS
9. IDFC 130 CALL WAS GIVEN AT 5, SOLD 1 LOT AT 10 N 2ND LOT TODAY EXPIRED AT 10.75, GIVING PROFIT OF 31,712 RS
10. RPL 125 CALL WAS GIVEN AT 4.75, SOLD 1 LOT AT 9.5, 2ND LOT EXPIRED TODAY AT 25.95 RS, GIVING PROFIT OF 86,932.5 RS
11. NTPC 185 CALL GIVEN AT 6.5, SOLD 1 LOT AT 13, 2ND EXPIRED AT 8.95 RS, GIVING PROFIT OF 14,543 RS
12. GMR 840 CALL 1LOT GIVEN AT 35 RS, EXPIRED AT 11.65, GIVING LOSS OF 23,350 RS
WE HAD GIVEN LEVEL TO BUY CALLS N TOLD TO BUY THEM BELOW THOSE LEVELS, IF SOME1 NT WAITED FOR BELOW N BUY AT GIVEN LEVEL THN ALSO INVESTMENT OF ALL CALL IS 2,65,225 RS N TOTAL PROFIT IS SUPER DUPER 6,42,205 RS MEANS PROFIT OF 242%..
IT NT RANING, IT FLOOD OF MONEY I THINK.. ENJOY WTH US..
1ST TIME I M ASKING U ALL COMMENT N GIVE UR VIEWS ON THIS PERFORMANCE PLS..
WWW.KHICHDITIPS.BLOGSPOT.COM
Thursday, September 27, 2007
Thursday, September 20, 2007
MULTIBAGGERS : TAMIL NEWSPRINT
Ambareesh Baliga, Karvy Stock Broking
Tamil Newsprint : Reco Price Rs. 100.70 CMP: Rs.103.75
TNPL is poised to tap growth opportunities in the paper industry with its capacity expansion. Higher volumes, low cost of pulp and better realisations are expected to the growth in operating profits and the stock can be accumulated at current levels with a 12-month target price of Rs 150.
TNPL (Rs 100.70)
TNPL is poised to tap growth opportunities in the paper industry with its capacity expansion which would assist the company tide over the cost pressures that the industry is facing. Better price realisations and higher volumes would aid in revenue and EBIDTA growth. With its expansion, which will hike its capacities to 3.65 lakh TPA with expected capex of Rs 6800 mn, this incremental capacity will come on stream by September 2009. This capex will be funded from Rs 1800 mn from internal accruals & the rest by fresh debt.
Capacity Expansion
TNPL is poised to tap opportunities with its plans to expand capacity from 2.3 lakh tpa to 3.65 lakh tpa with the Paper industry is likely to maintain steady growth of 6%. Demand for duplex boards, copier and coated grades of paper is likley to contibute a large part of this growth
Change in product mix
The company has been shifting its product mix in favour of the higher value add branded copier paper. Branded copier paper, on an average enjoys a 10-15% premium over prices of creamwove paper. Production of branded copier paper has registered a growth of 32% over a four-year period on a CAGR basis. The favourable mix towards branded copier paper would deliver better margins.
New Ventures – Cement Plant
TNPL plans to set up a mini cement plant using the waste products generated from its paper mill as a raw material. TNPL will set up a cement plant with a capex of Rs 450 mn adjacent to its paper factory at Kagithapuram in Karur district. The cement plant with a capacity of 400 tonnes a day would process waste lime sludge and excessive fly ash from the paper plant and is scheduled to get commissioned by March 2009. About 30 acres of land has been earmarked for the plant within about 780 acres owned by the company near Karur. The plant will initially manufacture Portland cement varieties and could get into production of special varieties of cement in phases.
IT Park
The company also proposes to construct an IT Park measuring an office area of 4 lakhs sq. ft. in a vacant land of the company.
Wind Farm to control power costs
TNPL has completed its Wind Farm expansion to 35.5 MW, which will help control its power costs in a regime of increasing pulp prices. TNPL has applied for Carbon Credit registration. It has uptil now cumulatively accumulated 42000 CER (certified emission reductions) for the last 3 years, 14000 CER per year. Income from Carbon Credit will be realised in FY08.
Investment for farm initiatives
TNPL is investing in Farm initiatives to secure relationships with farmers & also, to own the farm assets. The company expects full benefits of such an initiative to start coming in from financial year 2010 onwards.
Outlook & Valuations
The demand for paper is rising and the prospects appear good for the industry. Higher volumes, low cost of pulp and better realisations are expected to the growth in operating profits in FY08 and FY09. We expect the company to report earnings of Rs 15.8 in FY08 & Rs 19.1 in FY09E and and at the current price the stock is trading 6.4xFY08E and 5.3xFY09E earnings. We recommend the stock to be accumulated at current levels with a 12-month target price of Rs 150 (8xFY09E).
(Rs Mn) FY2004 FY2005 FY2006 FY2007 FY2008E FY2009E
Net Sales 5,836 6,713 8,018 8,844 9,800 10,800
EBITDA 1,166 901 1,565 1,868 2,254 2,592
Net Profit 528 380 805 861 1,098 1,322
EPS (Rs) 7.6 5.5 11.6 12.4 15.8 19.1
EPS growth (%) -28.1% 112.2% 6.8% 27.6% 20.4%
EBITDA Margin (%) 20.0% 13.4% 19.5% 21.1% 23.0% 24.0%
PER (x) 13.3 18.5 8.7 8.1 6.4 5.3
EV/EBITDA (x) 7.98 10.32 6.27 6.61 5.12 4.28
Net margin(%) 9.0% 5.7% 10.0% 9.7% 11.2% 12.2%
ROCE (%) 12.1% 7.7% 14.7% 12.8% 16.0% 17.6%
TNPL
NSE Symbol TNPL
Market cap. (Rsmn) 7,007
Market cap. (US$mn) 171
Shares outstanding (mn) 69
52-week High/Low (Rs) 105/80
Major shareholders(%)
Promoters 35
FIIs 10
Banks/Fis/MFs 32
Others (Including public) 23
Tamil Newsprint : Reco Price Rs. 100.70 CMP: Rs.103.75
TNPL is poised to tap growth opportunities in the paper industry with its capacity expansion. Higher volumes, low cost of pulp and better realisations are expected to the growth in operating profits and the stock can be accumulated at current levels with a 12-month target price of Rs 150.
TNPL (Rs 100.70)
TNPL is poised to tap growth opportunities in the paper industry with its capacity expansion which would assist the company tide over the cost pressures that the industry is facing. Better price realisations and higher volumes would aid in revenue and EBIDTA growth. With its expansion, which will hike its capacities to 3.65 lakh TPA with expected capex of Rs 6800 mn, this incremental capacity will come on stream by September 2009. This capex will be funded from Rs 1800 mn from internal accruals & the rest by fresh debt.
Capacity Expansion
TNPL is poised to tap opportunities with its plans to expand capacity from 2.3 lakh tpa to 3.65 lakh tpa with the Paper industry is likely to maintain steady growth of 6%. Demand for duplex boards, copier and coated grades of paper is likley to contibute a large part of this growth
Change in product mix
The company has been shifting its product mix in favour of the higher value add branded copier paper. Branded copier paper, on an average enjoys a 10-15% premium over prices of creamwove paper. Production of branded copier paper has registered a growth of 32% over a four-year period on a CAGR basis. The favourable mix towards branded copier paper would deliver better margins.
New Ventures – Cement Plant
TNPL plans to set up a mini cement plant using the waste products generated from its paper mill as a raw material. TNPL will set up a cement plant with a capex of Rs 450 mn adjacent to its paper factory at Kagithapuram in Karur district. The cement plant with a capacity of 400 tonnes a day would process waste lime sludge and excessive fly ash from the paper plant and is scheduled to get commissioned by March 2009. About 30 acres of land has been earmarked for the plant within about 780 acres owned by the company near Karur. The plant will initially manufacture Portland cement varieties and could get into production of special varieties of cement in phases.
IT Park
The company also proposes to construct an IT Park measuring an office area of 4 lakhs sq. ft. in a vacant land of the company.
Wind Farm to control power costs
TNPL has completed its Wind Farm expansion to 35.5 MW, which will help control its power costs in a regime of increasing pulp prices. TNPL has applied for Carbon Credit registration. It has uptil now cumulatively accumulated 42000 CER (certified emission reductions) for the last 3 years, 14000 CER per year. Income from Carbon Credit will be realised in FY08.
Investment for farm initiatives
TNPL is investing in Farm initiatives to secure relationships with farmers & also, to own the farm assets. The company expects full benefits of such an initiative to start coming in from financial year 2010 onwards.
Outlook & Valuations
The demand for paper is rising and the prospects appear good for the industry. Higher volumes, low cost of pulp and better realisations are expected to the growth in operating profits in FY08 and FY09. We expect the company to report earnings of Rs 15.8 in FY08 & Rs 19.1 in FY09E and and at the current price the stock is trading 6.4xFY08E and 5.3xFY09E earnings. We recommend the stock to be accumulated at current levels with a 12-month target price of Rs 150 (8xFY09E).
(Rs Mn) FY2004 FY2005 FY2006 FY2007 FY2008E FY2009E
Net Sales 5,836 6,713 8,018 8,844 9,800 10,800
EBITDA 1,166 901 1,565 1,868 2,254 2,592
Net Profit 528 380 805 861 1,098 1,322
EPS (Rs) 7.6 5.5 11.6 12.4 15.8 19.1
EPS growth (%) -28.1% 112.2% 6.8% 27.6% 20.4%
EBITDA Margin (%) 20.0% 13.4% 19.5% 21.1% 23.0% 24.0%
PER (x) 13.3 18.5 8.7 8.1 6.4 5.3
EV/EBITDA (x) 7.98 10.32 6.27 6.61 5.12 4.28
Net margin(%) 9.0% 5.7% 10.0% 9.7% 11.2% 12.2%
ROCE (%) 12.1% 7.7% 14.7% 12.8% 16.0% 17.6%
TNPL
NSE Symbol TNPL
Market cap. (Rsmn) 7,007
Market cap. (US$mn) 171
Shares outstanding (mn) 69
52-week High/Low (Rs) 105/80
Major shareholders(%)
Promoters 35
FIIs 10
Banks/Fis/MFs 32
Others (Including public) 23
Monday, September 17, 2007
MULTIBAGGERS: VINAY CEMENT
Ashish Chugh, Investment Advisor
Vinay Cements : Reco Price Rs. 37.65 CMP: Rs.41.50
Vinay Cement is a play on the demand explosion that the Cement deficit market of North East is expected to witness in the years to come. Investors can accumulate the stock at the current levels and on declines.
September 17, 2007
Vinay Cements Ltd.
CMP – Rs. 37.65 BSE Code – 518051
Vinay Cements Ltd. is a cement company with a niche – It is probably the only listed cement company having its manufacturing facilities located in North-Eastern part of the country – a region with very few cement producers; a region which currently imports over 50% of its cement requirements from neighbouring states; a region which has seen little infrastructure development due to various problems it faced in the past including Insurgency and militancy; however things could change in the years to come- with the situation now stabilizing and under control, the region could witness substantially increased infrastructure spending in the years to come and various Hydel Projects, Irrigation, Housing and Road projects being undertaken. Moreover, the region could witness Industrial Activity on account of the fiscal incentives provided by the government vide North East Industrial and Investment Promotion Policy, 2007 for setting up industries in the region.
The capacity expansions and Greenfield units undertaken by Vinay Cement and its subsidiaries augurs well for the future of the company.
Background
Vinay Cements Ltd. is a leading Cement manufacturer in North-East and has its plant located in Cacher Hills in Asom (Assam). The company currently is on an aggressive expansion spree setting up Greenfield projects through subsidiary companies. The group is also consolidating all its Cement business into Vinay Cement by making the other cement companies of the group as subsidiaries of Vinay Cement.
Vinay Cement has a 2.4 lakh ton Cement plant located in Assam. The company sells cement under the brand ‘Vinay’ and enjoys a high brand recall in North East. Promoters hold 75% Equity in the company.
Vinay Cement currently holds stakes in 3 Cement companies which have either cement plants or are implementing Cement projects in North East – these are RCL Cements Ltd., SCL Cements Pvt. Ltd. and Calcom Cement India Ltd.
RCL Cements Ltd. – RCL Cements Ltd. has a 1.0 lakh ton Cement plant. The company has been acquired by Vinay Cement Ltd. in June 07 through a stock swap. Vinay Cement Ltd. has issued 89 lakh shares at Rs.35 per share to the shareholders of RCL Cements Ltd. towards sale consideration for the shares held by them in RCL Cements Ltd. With this, RCL Cement has now become a 100% subsidiary of Vinay Cement. With the allotment of shares of Vinay Cement to the shareholders of RCL Cement, the promoters holding in Vinay Cement has increased from 52.65% to 74.95%, thereby triggering an Open Offer as per SEBI Guidelines.
RCL Cements holds investments of Rs.23 crores in Equity Capital of Calcom Cements India Ltd.. RCL Cement is a profit making company and has reported Sales of Rs.40.80 crores, EBITA of Rs.12.50 crores and a PAT of over Rs. 7.0 crores for FY 06-07.
SCL Cement Pvt. Ltd. – Vinay Cement has also acquired shareholding of SCL Cement Pvt. Ltd. from the promoters of Vinay Cement Ltd. SCL Cement Ltd. is currently implementing a Greenfield project for a 2.31 lakh cement plant alongwith a capacity of 1.32 lakh ton of Calcined Clay in Assam at a total cost of Rs.36 crores, to be financed through a mix of Term Loan, Internal Accruals and Equity. The plant is expected to come up in stages with the first stage scheduled to be implemented in March 08 and subsequent stages in June 08 and December 08.
Calcom Cement India Ltd. – Calcom Cement India Ltd. currently has Vinay Cement and RCL Cement as its major shareholders. Calcom Cement is implementing a 14 lakh ton project in North Cachar Hills region of Asom at a total cost of Rs.415 crores. The project is the largest cement project in the region and is expected to be implemented by December 08. Calcom Cement is the largest Industrial Investment in the state till date and has Equity participation by IL&FS and Government of Assam.
With the ongoing projects, the group would emerge as the largest cement manufacturer in the region.
Open Offer
Pursuant to the acquisition of RCL Cements Ltd. and allotment of shares to the promoters of Vinay Cement, the promoters of Vinay Cement are coming out with an Open Offer for acquisition of 20% public shareholding at a price of Rs.35 per share, as per SEBI Guidelines. In view of the open offer, we believe the stock price of Vinay Cement is unlikely to appreciate significantly from the current levels in the short term; this would however provide the long term investor with an opportunity to accumulate the stock at the current levels and on declines.
Financials
The latest financials of the company are given as under :-
QUARTERLY - LATEST RESULTS - Vinay Cements Ltd (Curr: Rs in Cr.)
Particulars Quarter Ended Quarter Ended Quarter Ended Year Ended Year Ended Year Ended
(Jun 07) (Jun 06) (% Var) (Mar 07) (12) (Mar 06) (12) (%Var)
Sales 8.78 13.64 -35.6 48.9 40.24 21.5
Other Income 1.16 1.38 -15.9 10.28 6.37 61.4
PBIDT 1.31 2.34 -44 11.82 8.76 34.9
Interest 0.35 0.21 66.7 1.1 0.65 69.2
PBDT 0.96 2.13 -54.9 10.72 8.11 32.2
Depreciation 0.6 0.55 9.1 2.44 2.19 11.4
PBT 0.36 1.58 -77.2 8.28 5.92 39.9
Tax 0 0 - 0.28 0 -
Deferred Tax 0 0 - 0 0 -
PAT 0.36 1.58 -77.2 8 5.92 35.1
(Source: Capitaline)
Latest Data As On 14/09/2007
Latest Equity(Subscribed) 18.9
Latest Reserve 53.7
Latest Bookvalue -Unit Curr. 38.41
Latest EPS -Unit Curr. 3.59
Latest Market Price -Unit Curr. 37.65
Latest P/E Ratio 10.49
52 Week High -Unit Curr. 42
52 Week High-Date 8/3/2007
52 Week Low -Unit Curr. 15.6
52 Week Low-Date 9/15/2006
Market Capitalisation 71.16
Stock Exchange BSE
Dividend Yield -% 0
(Source: Capitaline)
Conclusion
The promoters of Vinay Cements have undertaken a consolidation exercise which will make all cement business of the group, a part of Vinay Cement. The consolidation will help Vinay Cements, consolidate its competitive edge in the cement map of the region through increase in market share and cost savings through common dealer network and sharing of other common costs. The consolidation of all cement business of the group into Vinay Cement would also remove any conflict of interest between the public listed company and the private companies of the group involved in similar business, thereby improving the perception of the company in the minds of investors and therefore better discounting. Some recent press reports suggest that group is also talking to small and medium sized players in the business for acquisition to ramp up business.
Vinay Cement itself is ramping up its capacity from 2.4 lakh tpa to 5.0 lakh tpa through debottlenecking and adding balancing equipment.
Vinay Cement enjoys several advantages :-
- The company has its plants located in area where currently over 50% of the cement demand is fulfilled from supplies from neighbouring states. Being a difficult terrain, the transport cost is substantial, which provide the cement manufacturers of the area a distinct advantage.
- The company has Limestone quarries which have been given by the state government on Long Term Lease. This arrangement takes care of any worries on the raw material front.
- As per North East Industrial and Investment Promotion Policy, 2007, notified in April 2007, the Centre has provided substantial financial incentives for setting up manufacturing operations in North-East – these include exemption from Sales Tax, Excise Duty, and Income Tax. The icing in the cake is that the state also provides Capital Investment subsidy of 30% – this effectively means that plants being set up will be entitled to a subsidy of 30% of the Capital Cost (cost of Plant & Machinery & Capital Equipment). This could lead to Corporate Houses looking at North East for setting up their manufacturing facilities, leading to increased Infrastructure Development in the Region. Also, these incentives would make the new cement plants being set up in the region to be more competitive than the ones located outside the state leading to enhancement of shareholders value.
The major RISKS in the investment include Execution Risk by the promoters, resurgence of problems like militancy and insurgency in the region and the possibility of other players setting up cement plants in the area leading to the demand-supply fulcrum shifting in favour of the latter, thereby reducing profitability.
The North East has seen little infrastructure development in the past due to various problems it faced including Insurgency and militancy – things however could change in the years to come. The region could witness substantially increased infrastructure spending in the years to come primarily on account of the local problems being brought significantly under control and various Hydel Projects, Irrigation, Housing and Road projects being undertaken. Moreover, the region could witness Industrial Activity on account of the fiscal incentives provided by the government for setting up industries in the region.
The North Eastern part of the country has been a cement deficit region and with demand far outstripping the supplies, the cement prices in the region are much higher than many other parts of the country. Currently, majority of the supply for cement in the region comes from outside the region – there is therefore a ready market for cement in the region.
The current consolidation exercise and with various projects under implementation, especially Calcom Cement, will see the group emerge as largest cement manufacturer in the region with a capacity of over 20 lakh ton by December 2008 and will see the Consolidated Revenues and profitability of Vinay Cement going up multifold in the years to come.
Vinay Cement is therefore a play on the demand explosion that the Cement deficit market of North East is expected to witness in the years to come. Investors can accumulate the stock at the current levels and on declines.
Vinay Cements : Reco Price Rs. 37.65 CMP: Rs.41.50
Vinay Cement is a play on the demand explosion that the Cement deficit market of North East is expected to witness in the years to come. Investors can accumulate the stock at the current levels and on declines.
September 17, 2007
Vinay Cements Ltd.
CMP – Rs. 37.65 BSE Code – 518051
Vinay Cements Ltd. is a cement company with a niche – It is probably the only listed cement company having its manufacturing facilities located in North-Eastern part of the country – a region with very few cement producers; a region which currently imports over 50% of its cement requirements from neighbouring states; a region which has seen little infrastructure development due to various problems it faced in the past including Insurgency and militancy; however things could change in the years to come- with the situation now stabilizing and under control, the region could witness substantially increased infrastructure spending in the years to come and various Hydel Projects, Irrigation, Housing and Road projects being undertaken. Moreover, the region could witness Industrial Activity on account of the fiscal incentives provided by the government vide North East Industrial and Investment Promotion Policy, 2007 for setting up industries in the region.
The capacity expansions and Greenfield units undertaken by Vinay Cement and its subsidiaries augurs well for the future of the company.
Background
Vinay Cements Ltd. is a leading Cement manufacturer in North-East and has its plant located in Cacher Hills in Asom (Assam). The company currently is on an aggressive expansion spree setting up Greenfield projects through subsidiary companies. The group is also consolidating all its Cement business into Vinay Cement by making the other cement companies of the group as subsidiaries of Vinay Cement.
Vinay Cement has a 2.4 lakh ton Cement plant located in Assam. The company sells cement under the brand ‘Vinay’ and enjoys a high brand recall in North East. Promoters hold 75% Equity in the company.
Vinay Cement currently holds stakes in 3 Cement companies which have either cement plants or are implementing Cement projects in North East – these are RCL Cements Ltd., SCL Cements Pvt. Ltd. and Calcom Cement India Ltd.
RCL Cements Ltd. – RCL Cements Ltd. has a 1.0 lakh ton Cement plant. The company has been acquired by Vinay Cement Ltd. in June 07 through a stock swap. Vinay Cement Ltd. has issued 89 lakh shares at Rs.35 per share to the shareholders of RCL Cements Ltd. towards sale consideration for the shares held by them in RCL Cements Ltd. With this, RCL Cement has now become a 100% subsidiary of Vinay Cement. With the allotment of shares of Vinay Cement to the shareholders of RCL Cement, the promoters holding in Vinay Cement has increased from 52.65% to 74.95%, thereby triggering an Open Offer as per SEBI Guidelines.
RCL Cements holds investments of Rs.23 crores in Equity Capital of Calcom Cements India Ltd.. RCL Cement is a profit making company and has reported Sales of Rs.40.80 crores, EBITA of Rs.12.50 crores and a PAT of over Rs. 7.0 crores for FY 06-07.
SCL Cement Pvt. Ltd. – Vinay Cement has also acquired shareholding of SCL Cement Pvt. Ltd. from the promoters of Vinay Cement Ltd. SCL Cement Ltd. is currently implementing a Greenfield project for a 2.31 lakh cement plant alongwith a capacity of 1.32 lakh ton of Calcined Clay in Assam at a total cost of Rs.36 crores, to be financed through a mix of Term Loan, Internal Accruals and Equity. The plant is expected to come up in stages with the first stage scheduled to be implemented in March 08 and subsequent stages in June 08 and December 08.
Calcom Cement India Ltd. – Calcom Cement India Ltd. currently has Vinay Cement and RCL Cement as its major shareholders. Calcom Cement is implementing a 14 lakh ton project in North Cachar Hills region of Asom at a total cost of Rs.415 crores. The project is the largest cement project in the region and is expected to be implemented by December 08. Calcom Cement is the largest Industrial Investment in the state till date and has Equity participation by IL&FS and Government of Assam.
With the ongoing projects, the group would emerge as the largest cement manufacturer in the region.
Open Offer
Pursuant to the acquisition of RCL Cements Ltd. and allotment of shares to the promoters of Vinay Cement, the promoters of Vinay Cement are coming out with an Open Offer for acquisition of 20% public shareholding at a price of Rs.35 per share, as per SEBI Guidelines. In view of the open offer, we believe the stock price of Vinay Cement is unlikely to appreciate significantly from the current levels in the short term; this would however provide the long term investor with an opportunity to accumulate the stock at the current levels and on declines.
Financials
The latest financials of the company are given as under :-
QUARTERLY - LATEST RESULTS - Vinay Cements Ltd (Curr: Rs in Cr.)
Particulars Quarter Ended Quarter Ended Quarter Ended Year Ended Year Ended Year Ended
(Jun 07) (Jun 06) (% Var) (Mar 07) (12) (Mar 06) (12) (%Var)
Sales 8.78 13.64 -35.6 48.9 40.24 21.5
Other Income 1.16 1.38 -15.9 10.28 6.37 61.4
PBIDT 1.31 2.34 -44 11.82 8.76 34.9
Interest 0.35 0.21 66.7 1.1 0.65 69.2
PBDT 0.96 2.13 -54.9 10.72 8.11 32.2
Depreciation 0.6 0.55 9.1 2.44 2.19 11.4
PBT 0.36 1.58 -77.2 8.28 5.92 39.9
Tax 0 0 - 0.28 0 -
Deferred Tax 0 0 - 0 0 -
PAT 0.36 1.58 -77.2 8 5.92 35.1
(Source: Capitaline)
Latest Data As On 14/09/2007
Latest Equity(Subscribed) 18.9
Latest Reserve 53.7
Latest Bookvalue -Unit Curr. 38.41
Latest EPS -Unit Curr. 3.59
Latest Market Price -Unit Curr. 37.65
Latest P/E Ratio 10.49
52 Week High -Unit Curr. 42
52 Week High-Date 8/3/2007
52 Week Low -Unit Curr. 15.6
52 Week Low-Date 9/15/2006
Market Capitalisation 71.16
Stock Exchange BSE
Dividend Yield -% 0
(Source: Capitaline)
Conclusion
The promoters of Vinay Cements have undertaken a consolidation exercise which will make all cement business of the group, a part of Vinay Cement. The consolidation will help Vinay Cements, consolidate its competitive edge in the cement map of the region through increase in market share and cost savings through common dealer network and sharing of other common costs. The consolidation of all cement business of the group into Vinay Cement would also remove any conflict of interest between the public listed company and the private companies of the group involved in similar business, thereby improving the perception of the company in the minds of investors and therefore better discounting. Some recent press reports suggest that group is also talking to small and medium sized players in the business for acquisition to ramp up business.
Vinay Cement itself is ramping up its capacity from 2.4 lakh tpa to 5.0 lakh tpa through debottlenecking and adding balancing equipment.
Vinay Cement enjoys several advantages :-
- The company has its plants located in area where currently over 50% of the cement demand is fulfilled from supplies from neighbouring states. Being a difficult terrain, the transport cost is substantial, which provide the cement manufacturers of the area a distinct advantage.
- The company has Limestone quarries which have been given by the state government on Long Term Lease. This arrangement takes care of any worries on the raw material front.
- As per North East Industrial and Investment Promotion Policy, 2007, notified in April 2007, the Centre has provided substantial financial incentives for setting up manufacturing operations in North-East – these include exemption from Sales Tax, Excise Duty, and Income Tax. The icing in the cake is that the state also provides Capital Investment subsidy of 30% – this effectively means that plants being set up will be entitled to a subsidy of 30% of the Capital Cost (cost of Plant & Machinery & Capital Equipment). This could lead to Corporate Houses looking at North East for setting up their manufacturing facilities, leading to increased Infrastructure Development in the Region. Also, these incentives would make the new cement plants being set up in the region to be more competitive than the ones located outside the state leading to enhancement of shareholders value.
The major RISKS in the investment include Execution Risk by the promoters, resurgence of problems like militancy and insurgency in the region and the possibility of other players setting up cement plants in the area leading to the demand-supply fulcrum shifting in favour of the latter, thereby reducing profitability.
The North East has seen little infrastructure development in the past due to various problems it faced including Insurgency and militancy – things however could change in the years to come. The region could witness substantially increased infrastructure spending in the years to come primarily on account of the local problems being brought significantly under control and various Hydel Projects, Irrigation, Housing and Road projects being undertaken. Moreover, the region could witness Industrial Activity on account of the fiscal incentives provided by the government for setting up industries in the region.
The North Eastern part of the country has been a cement deficit region and with demand far outstripping the supplies, the cement prices in the region are much higher than many other parts of the country. Currently, majority of the supply for cement in the region comes from outside the region – there is therefore a ready market for cement in the region.
The current consolidation exercise and with various projects under implementation, especially Calcom Cement, will see the group emerge as largest cement manufacturer in the region with a capacity of over 20 lakh ton by December 2008 and will see the Consolidated Revenues and profitability of Vinay Cement going up multifold in the years to come.
Vinay Cement is therefore a play on the demand explosion that the Cement deficit market of North East is expected to witness in the years to come. Investors can accumulate the stock at the current levels and on declines.
Sunday, September 16, 2007
UPDATES ON OUR MULTIBAGGERS CALLS
FOLLOWING ARE THE RESULTS OF OUR CALL WHICH WE STARTED FRM 12 AUGUST
1.PUNJLLOYD RECOMMENDED AT 275, CMP IS 291.45, MEANS 5.87% GAIN..
2.OSWAL FERTILIZER OR BINDAL AGRO RECOMMENDED AT 32.55, CMP IS 41.05, MEANS 26.11 % GAIN..
3.INDIAN HOTELS RECOMMENDED AT 135.9, CMP IS 128.65, MEANS 5.33% LOSS..
4.TTML RECOMMENDED AT 29.05, CMP IS 33.05, MEANS PROFIT OF 12.01%..
5.FRESHTROP FRUITS RECOMMENDED AT 114.75, CMP IS 130.5 MEANS PROFIT OF 13.73%..
6.MICRO TECHNOLOGIES RECOMMENDED AT 243, CMP IS 254.80, MEANS PROFIT OF 4.86%..
7.JSW STEEL RECOMMENDED AT 650, CMP IS 683.5, MEANS PROFIT OF 5.1%..
8.RCOM RECOMMENDED AT 520, CMP IS 543, MEANS PROFIT OF 4.42%..
9.MYSORE CEMENT RECOMMENDED AT 45.2, CMP IS 56.2, MEANS PROFIT OF 24.34%..
10.SUNIL HITECH RECOMMENDED AT 189.1, CMP IS 250.8, MEANS PROFIT OF 32.63%..
11.DCM SHRIRAM RECOMMENDED AT 82.45, CMP IS 70.3, MEANS LOSS OF 14.74%
12.WELSPUN GUJARAT RECOMMENDED AT 247.35, CMP IS 264.2, MEANS PROFIT OF 6.81%..
13.HOTEL LEELA RECOMMENDED AT 43.5, CMPS IS 46.95, MEANS PROFIT OF 7.93%..
14.VENKYS RECOMMENDED AT 157.05, CMP IS 177.55, MEANS PROFIT OF 13.05%..
15.CEAT RECOMMENDED AT 176.7, CMP IS 179.75, MEANS PROFIT OF 1.73%..
TOTAL WE HAD RECOMMENDED 15 SCRIPTS IN LAST 5 WEEK, IN WHICH 13 ARE IN PROFIT N ONLY 2 ARE IN LOSS.. ON TOTAL AVERAGE WE EARNED 9.23% PROFIT ON EVERY SCRIPT.. IF SOME SMALL INVESTOR INVESTED 5,000 RS ON EACH SCRIPT THN HIS TOTAL INVESTMENT=75,000 RS N PROFIT TILL NOW WILL BE 6926 RS.. IN ONLY 5 WEEKS, N I THINK THT IS REALLY A GUD RETURN, AS WE DO GET 9% RETURN IN 1 YEAR IN FIX DEPOSIT FRM BANK N HERE WE EARN FRM SAFE INVESTMENT.. CHEERS FRNDS..
I HAD MADE ALL THIS CALCULATION JST TO MAKE U ALL ATTENTION TOWARD THIS THREAD N ESPECIALLY SMALL INVESTOR N SAFE TRADER..
1.PUNJLLOYD RECOMMENDED AT 275, CMP IS 291.45, MEANS 5.87% GAIN..
2.OSWAL FERTILIZER OR BINDAL AGRO RECOMMENDED AT 32.55, CMP IS 41.05, MEANS 26.11 % GAIN..
3.INDIAN HOTELS RECOMMENDED AT 135.9, CMP IS 128.65, MEANS 5.33% LOSS..
4.TTML RECOMMENDED AT 29.05, CMP IS 33.05, MEANS PROFIT OF 12.01%..
5.FRESHTROP FRUITS RECOMMENDED AT 114.75, CMP IS 130.5 MEANS PROFIT OF 13.73%..
6.MICRO TECHNOLOGIES RECOMMENDED AT 243, CMP IS 254.80, MEANS PROFIT OF 4.86%..
7.JSW STEEL RECOMMENDED AT 650, CMP IS 683.5, MEANS PROFIT OF 5.1%..
8.RCOM RECOMMENDED AT 520, CMP IS 543, MEANS PROFIT OF 4.42%..
9.MYSORE CEMENT RECOMMENDED AT 45.2, CMP IS 56.2, MEANS PROFIT OF 24.34%..
10.SUNIL HITECH RECOMMENDED AT 189.1, CMP IS 250.8, MEANS PROFIT OF 32.63%..
11.DCM SHRIRAM RECOMMENDED AT 82.45, CMP IS 70.3, MEANS LOSS OF 14.74%
12.WELSPUN GUJARAT RECOMMENDED AT 247.35, CMP IS 264.2, MEANS PROFIT OF 6.81%..
13.HOTEL LEELA RECOMMENDED AT 43.5, CMPS IS 46.95, MEANS PROFIT OF 7.93%..
14.VENKYS RECOMMENDED AT 157.05, CMP IS 177.55, MEANS PROFIT OF 13.05%..
15.CEAT RECOMMENDED AT 176.7, CMP IS 179.75, MEANS PROFIT OF 1.73%..
TOTAL WE HAD RECOMMENDED 15 SCRIPTS IN LAST 5 WEEK, IN WHICH 13 ARE IN PROFIT N ONLY 2 ARE IN LOSS.. ON TOTAL AVERAGE WE EARNED 9.23% PROFIT ON EVERY SCRIPT.. IF SOME SMALL INVESTOR INVESTED 5,000 RS ON EACH SCRIPT THN HIS TOTAL INVESTMENT=75,000 RS N PROFIT TILL NOW WILL BE 6926 RS.. IN ONLY 5 WEEKS, N I THINK THT IS REALLY A GUD RETURN, AS WE DO GET 9% RETURN IN 1 YEAR IN FIX DEPOSIT FRM BANK N HERE WE EARN FRM SAFE INVESTMENT.. CHEERS FRNDS..
I HAD MADE ALL THIS CALCULATION JST TO MAKE U ALL ATTENTION TOWARD THIS THREAD N ESPECIALLY SMALL INVESTOR N SAFE TRADER..
Thursday, September 13, 2007
UPDATES ON OPTION CALL RESULTS
FEW UPDATES ON MY OPTION CALLS :-
1. PROFIT OF REL 800 CALL FRM CMP IS 55,000 BY HOLDING 1LOT WHOSE CMP IS 100 RS, IN MORNING IT WAS 120, 1 LOT WAS SOLD AT 60 RS..
2. PROFIT OF RELIANCE 2010 CALL IS 2400 RS, HOLDING BOTH LOT..
3. PROFIT OF SBI 1620 CALL IS 10,500 RS, HOLDING BOTH LOT..
4. PROFIT OF HIND UNILEVER 210 CALL IS 7000 RS, HOLDING 1 LOT..
5. PROFIT OF IDBI 125 CALL IS 28,920, HOLDING 1 LOT..
6. LOSS OF TATA STEEL 740 CALL IS 5400 RS, HOLDING BOTH LOT..
7. PROFIT OF 1875 RS IN JPHYDRO 50 CALL, HOLDING 2 LOT..
8. PROFIT OF IDFC 130 CALL IS 25075 RS, HOLDING 1 LOT..
9. PROFIT OF RPL 125 CALL IS 19,765 RS, HOLDING 1 LOT..
10. PROFIT OF NTPC 185 CALL IS 14,462.5, HOLDING 1 LOT..
11. PROFIT OF RELCAPITAL 1230 IS SUPER DUPER 97,405 RS N WE HOLDING 1 LOT..
12. LOSS OF 19,500 IN GMR 840 CALL N HOLDING 1 LOT..
TOTAL RESULT:- 7 CALLS OUT OF 12 ARE DOUBLE OR MORE OF THEIR BUYING RATE, 3 IN PROFIT N ONLY 2 IN LOSS..
TOTAL INVESTMENT ON ALL 12 CALLS:3,57,425
TOTAL PROFIT ON ALL CALLS AFTER CUTTING LOSSES IN 2 CALLS: 2,37,142
MEANS NR ABT 66% RETUN IN 9 TRADING SESSION.. IT'S REALLY FLOOD OF MONEY I THINK IF SOME1 FOLLOWED CALLS..
IF SOME1 IS HOLDING RELCAPITAL 1230 CALL N REL 800 CALL THEN HOLD REL CALL WTH 80 RS AS STOPLOSS N 160 RS STOPLOSS IN RELCAPITAL CALL, BOTH SL ARE ON CLOSING BASIS..
TRY TO SELL OUT REL CALL IF GET CHANCE AT 110 OR 120 N RELCAPITAL AT 190 PR 200 RS..
1. PROFIT OF REL 800 CALL FRM CMP IS 55,000 BY HOLDING 1LOT WHOSE CMP IS 100 RS, IN MORNING IT WAS 120, 1 LOT WAS SOLD AT 60 RS..
2. PROFIT OF RELIANCE 2010 CALL IS 2400 RS, HOLDING BOTH LOT..
3. PROFIT OF SBI 1620 CALL IS 10,500 RS, HOLDING BOTH LOT..
4. PROFIT OF HIND UNILEVER 210 CALL IS 7000 RS, HOLDING 1 LOT..
5. PROFIT OF IDBI 125 CALL IS 28,920, HOLDING 1 LOT..
6. LOSS OF TATA STEEL 740 CALL IS 5400 RS, HOLDING BOTH LOT..
7. PROFIT OF 1875 RS IN JPHYDRO 50 CALL, HOLDING 2 LOT..
8. PROFIT OF IDFC 130 CALL IS 25075 RS, HOLDING 1 LOT..
9. PROFIT OF RPL 125 CALL IS 19,765 RS, HOLDING 1 LOT..
10. PROFIT OF NTPC 185 CALL IS 14,462.5, HOLDING 1 LOT..
11. PROFIT OF RELCAPITAL 1230 IS SUPER DUPER 97,405 RS N WE HOLDING 1 LOT..
12. LOSS OF 19,500 IN GMR 840 CALL N HOLDING 1 LOT..
TOTAL RESULT:- 7 CALLS OUT OF 12 ARE DOUBLE OR MORE OF THEIR BUYING RATE, 3 IN PROFIT N ONLY 2 IN LOSS..
TOTAL INVESTMENT ON ALL 12 CALLS:3,57,425
TOTAL PROFIT ON ALL CALLS AFTER CUTTING LOSSES IN 2 CALLS: 2,37,142
MEANS NR ABT 66% RETUN IN 9 TRADING SESSION.. IT'S REALLY FLOOD OF MONEY I THINK IF SOME1 FOLLOWED CALLS..
IF SOME1 IS HOLDING RELCAPITAL 1230 CALL N REL 800 CALL THEN HOLD REL CALL WTH 80 RS AS STOPLOSS N 160 RS STOPLOSS IN RELCAPITAL CALL, BOTH SL ARE ON CLOSING BASIS..
TRY TO SELL OUT REL CALL IF GET CHANCE AT 110 OR 120 N RELCAPITAL AT 190 PR 200 RS..
Wednesday, September 12, 2007
OPTION CALLS WE GIVEN, U JUDGE URSELF OUR PERFORMANCE WTH CURRENT PRICE
Posted by: ajay8000 on 31-AUG-2007 (12:15:10)
FRNDS HERE I M GIVING FEW OPTIONS FOR U :-
1.Buy REL 800 ca at 30 or below, tgt 60..
2.RIL 2010 call at 39 OR BELOW TGT 100..
3.SBIN 1620 call AT 60 OR BELOW N tgt 110..
RULES FOR TRADING IN OUR OPTIONS CALL:-
1. TAKE 2 N MULTIPLE LOT SO THT U CAN SELL 1 WHEN CALL PREMIUM GET DOUBLE N HOLD ANOTHER FOR UNLIMITED PROFITS..
2. TAKE POSITIONS IN ALL CALLS SO IF U GET IN LOSS FRM OUR 1 CALL THN COVER FRM OTHER..
3. TGT PERIOD IS TILL EXPIRY..
4. NO STOPLOSS, WHOLE PREMIUM IS SL MEANS HOLD TILL IT EXPIRY OR TILL IT GET ZERO..
5. SO READ ALL RULES CAREFULLY N SPECAILLY 4 NUMBER, THN INVEST, BCOZ WE DNT SUGGEST ANY SL..
Posted by: ajay8000 on 31-AUG-2007 (16:01:58)
2 MORE CALLS:-
1. BUY HINDUNILEVE 210 CALL AT 4 OR BELOW TGT 8..
2. BUY IDBI 125 CALL AT 7 N BELOW TGT 14..
Posted by: ajay8000 on 03-SEP-2007 (19:39:00)
UPDATE OF MY CALLS
1.IDBI 125 CALL SUGGESTED AT 7, TODAY LTP IS 11.15, MY RULE IS TO SELL 1 CALL OUT OF 2 WHEN IT GET DOUBLE, I HAD GIVEN THIS CALL TO MY PAID CLIENT ON YAHOO AT 5, SO THEY HAD SOLD 1 CALL AT 10, BUT THOSE WHO TAKEN FREE CALL TODAY AFTER READING IT ON FRIDAY EVE CAN SELL 1 CALL TOMORO AT 14, I THINK U WILL GET CHANCE TOMORO ONLY.. N AFTER THT HOLD ANOTHER TILL EXPIRY FOR UNLIMITED PROFIT MAY BE 20 RS EVEN ..
I HAD GIVEN TODAY MY CLIENT CALL OF NTPC 175 AT 4, N IT REACHED IT TGT TODAY ONLY BUT STILL U CAN BUY 185 CALL AT 6.5 OR BELOW UPTO 5 (BCOZ TOMORO THERE CAN BE PROFIT BOOKING).. FOR TGT 10-15, AS MINE TGT IS 200++ IN THIS MONTH..
3.BUY TISCO 740 CALL AT 13.5 OR BELOW FOR TGT 25-40-50..
4.BUY JPHYDRO 50 CALL AT 4.25 OR BELOW TGT 8-10..
5.BUY IDFC 130 CALL AT 5 OR BELOW N TGT 10 ++..
6.BUY RPL 125 CALL AT 4.75 OR BELOW N TGT 8-10..
I THINK SO MUCH CALL ARE ENOUGH, SO START BUYING N MINTING MONEY..
IF NIFTY DNT BREAK 4100 THN I THINK ALL OF ABOVE TGT WILL BE ACHIEVED TILL SEPTEMBER EXPIRY..
Posted by: ajay8000 on 07-SEP-2007 (01:35:57)
NEW RISKY CALL BUY GMR 840 CALL AT 35 N DIPS FOR TGT 70-100-150.. IT A RISKY CALL SO BUY ONLY 1 LOT..N REMEMBER NO STOPLOSS ..!! WILL UPDATE MORE IF THERE WILL BE ANY CHANGE IN STRATEGY !!
BUY RELCAPITAL 1230 CALL AT 52 N BELOW FOR SMALL PROFIT N TGT 65-80++ !!
THESE ARE THE OPTION CALLS WE HAD GIVEN TO OUR PAID CLIENTS, SO NOW U CAN JUDGE ALL OF THEM WTH THEIR CURRENT PRICE N CHECK OUR PERFORMANCE !!
IF U WANT TO EARN MONEY LIKE THIS THN SOON JOIN OR CONTACT US AT AJAY8000 ON YAHOO ORR 9928856677 FOR DETAILS.. ITS VERY LESS FEES COMPARED TO PROFITS.. THANKS !!
FRNDS HERE I M GIVING FEW OPTIONS FOR U :-
1.Buy REL 800 ca at 30 or below, tgt 60..
2.RIL 2010 call at 39 OR BELOW TGT 100..
3.SBIN 1620 call AT 60 OR BELOW N tgt 110..
RULES FOR TRADING IN OUR OPTIONS CALL:-
1. TAKE 2 N MULTIPLE LOT SO THT U CAN SELL 1 WHEN CALL PREMIUM GET DOUBLE N HOLD ANOTHER FOR UNLIMITED PROFITS..
2. TAKE POSITIONS IN ALL CALLS SO IF U GET IN LOSS FRM OUR 1 CALL THN COVER FRM OTHER..
3. TGT PERIOD IS TILL EXPIRY..
4. NO STOPLOSS, WHOLE PREMIUM IS SL MEANS HOLD TILL IT EXPIRY OR TILL IT GET ZERO..
5. SO READ ALL RULES CAREFULLY N SPECAILLY 4 NUMBER, THN INVEST, BCOZ WE DNT SUGGEST ANY SL..
Posted by: ajay8000 on 31-AUG-2007 (16:01:58)
2 MORE CALLS:-
1. BUY HINDUNILEVE 210 CALL AT 4 OR BELOW TGT 8..
2. BUY IDBI 125 CALL AT 7 N BELOW TGT 14..
Posted by: ajay8000 on 03-SEP-2007 (19:39:00)
UPDATE OF MY CALLS
1.IDBI 125 CALL SUGGESTED AT 7, TODAY LTP IS 11.15, MY RULE IS TO SELL 1 CALL OUT OF 2 WHEN IT GET DOUBLE, I HAD GIVEN THIS CALL TO MY PAID CLIENT ON YAHOO AT 5, SO THEY HAD SOLD 1 CALL AT 10, BUT THOSE WHO TAKEN FREE CALL TODAY AFTER READING IT ON FRIDAY EVE CAN SELL 1 CALL TOMORO AT 14, I THINK U WILL GET CHANCE TOMORO ONLY.. N AFTER THT HOLD ANOTHER TILL EXPIRY FOR UNLIMITED PROFIT MAY BE 20 RS EVEN ..
I HAD GIVEN TODAY MY CLIENT CALL OF NTPC 175 AT 4, N IT REACHED IT TGT TODAY ONLY BUT STILL U CAN BUY 185 CALL AT 6.5 OR BELOW UPTO 5 (BCOZ TOMORO THERE CAN BE PROFIT BOOKING).. FOR TGT 10-15, AS MINE TGT IS 200++ IN THIS MONTH..
3.BUY TISCO 740 CALL AT 13.5 OR BELOW FOR TGT 25-40-50..
4.BUY JPHYDRO 50 CALL AT 4.25 OR BELOW TGT 8-10..
5.BUY IDFC 130 CALL AT 5 OR BELOW N TGT 10 ++..
6.BUY RPL 125 CALL AT 4.75 OR BELOW N TGT 8-10..
I THINK SO MUCH CALL ARE ENOUGH, SO START BUYING N MINTING MONEY..
IF NIFTY DNT BREAK 4100 THN I THINK ALL OF ABOVE TGT WILL BE ACHIEVED TILL SEPTEMBER EXPIRY..
Posted by: ajay8000 on 07-SEP-2007 (01:35:57)
NEW RISKY CALL BUY GMR 840 CALL AT 35 N DIPS FOR TGT 70-100-150.. IT A RISKY CALL SO BUY ONLY 1 LOT..N REMEMBER NO STOPLOSS ..!! WILL UPDATE MORE IF THERE WILL BE ANY CHANGE IN STRATEGY !!
BUY RELCAPITAL 1230 CALL AT 52 N BELOW FOR SMALL PROFIT N TGT 65-80++ !!
THESE ARE THE OPTION CALLS WE HAD GIVEN TO OUR PAID CLIENTS, SO NOW U CAN JUDGE ALL OF THEM WTH THEIR CURRENT PRICE N CHECK OUR PERFORMANCE !!
IF U WANT TO EARN MONEY LIKE THIS THN SOON JOIN OR CONTACT US AT AJAY8000 ON YAHOO ORR 9928856677 FOR DETAILS.. ITS VERY LESS FEES COMPARED TO PROFITS.. THANKS !!
UPDATE OF OPTION CALLS GIVEN 1 WEEK EARLIER
1. RPL 125 CALL BOUGHT AT 4.75, 1 LOT SOLD TODAY AT 8 RS, OUR 1ST TGT N NOW HOLDING OTHER LOT FOR UNLIMITED PROFIT..
2.NPTC 185 CALL GIVEN AT 6.5, SOLD 1 LOT AT 13 RS, DOUBLE OF PREMIUM N NOW HOLDING OTHER FOR UNLIMITED PROFIT..
THERE IS NOT ANY NEW OPTION CALL, BCOZ MKT IS RANGE BOUND, N THE STOCKS WHICH ARE MOVING DNT HAVE ACTIVE N LIQUID OPTIONS..
BUT STILL CAN ENTER IN FEW CALLS WHICH ARE YET OPENED N BELOW OR NR OUR ENTERENCE LEVEL LIKE, RELIANCE, SBI, TISCO, JPHYDRO, BUT NOW WE R AT MID OF MONTH, N WE ARE BULLISH FRM 10 DAYS NR ABT, SO FOR PRECAUTION, U CAN BUY 1 LOT INSTEAD OF 2, BUT REMEBER NO STOPLOSS N TIME PERIOD TILL EXPIRY..
ITS RAINING (money) MAN !!
2.NPTC 185 CALL GIVEN AT 6.5, SOLD 1 LOT AT 13 RS, DOUBLE OF PREMIUM N NOW HOLDING OTHER FOR UNLIMITED PROFIT..
THERE IS NOT ANY NEW OPTION CALL, BCOZ MKT IS RANGE BOUND, N THE STOCKS WHICH ARE MOVING DNT HAVE ACTIVE N LIQUID OPTIONS..
BUT STILL CAN ENTER IN FEW CALLS WHICH ARE YET OPENED N BELOW OR NR OUR ENTERENCE LEVEL LIKE, RELIANCE, SBI, TISCO, JPHYDRO, BUT NOW WE R AT MID OF MONTH, N WE ARE BULLISH FRM 10 DAYS NR ABT, SO FOR PRECAUTION, U CAN BUY 1 LOT INSTEAD OF 2, BUT REMEBER NO STOPLOSS N TIME PERIOD TILL EXPIRY..
ITS RAINING (money) MAN !!
Tuesday, September 11, 2007
MULTIBAGGERS: CEAT LTD.
India Infoline Picks,
Ceat : Reco Price Rs. 176.50 CMP: Rs.176.50 (Gain 0.00%)
The buoyancy in automobile sector and stability in raw material prices with a negative bias is expected to benefit CEAT. The company also plans to de-merge its investment portfolio into a separate company making it a good buying opportunity.
BUY
CEAT LTD CMP Rs176.50
CEAT, a diversified tyre major, is ramping up its production facilities to benefit from the uptrend in tyre offtake. It has planned to modernize its existing facilities and double its Off The Road (OTR) capacity, which will boost volumes in FY08 and FY09. The proposed sale of land at its Bhandup facility and relocating out of Mumbai is expected to boost its capex plans and increase margins. CEAT is planning to invest in a CV radial tyre facility over the next two years. It is expected to invest over Rs 500 crore in the next 2-3 years to ramp up its capacities. It plans to increase truck & bus radial sales from 600-700 tyres per month to 4,000-5,000 by June 2008 through its existing arrangement with Pirelli and outsourcing from China. We recommend a BUY with a target of Rs 230, implying upside of 31%.
Company Background
CEAT is present in commercial vehicles (CV), passenger car radials, two-wheeler, tractor, OTR and others segments. Its popular brands include LUG and RIB in T&B and LCV segments, SAMRAAT in Tractor, ENDURA in PV segment and SECURA in two-wheeler segment. It has a total capacity of 385 tons per day (tpd) at two plants in Maharashtra. It sources two-wheeler tyres from private players.
Shareholding pattern
As on 30th June 2007 Holding
(%) No. of shares
(in Lakhs)
Promoters
43.2 197.1
Non-promoter
Corporate Holding 5.8 26.3
Institutions 24.6 112.3
Foreign 8.7 39.0
Public & Others 17.7 81.0
Fall in raw material costs boosts EBIDTA margin:
Tyre business is raw material intensive. Natural rubber prices were on a downward trend for the past 6 months and are expected to continue to slide in the coming quarters. In Q1FY08, fall in natural rubber prices and stable crude-based raw material prices boosted EBIDTA margin by 550 bps to 9.2%. Apart from this, CEAT's hedging policy for raw materials has shown good results in the past few quarters. Benchmark rubber price is hovering around Rs 88 per kg at present with year to date average at Rs 85 per kg. Average natural rubber price for CEAT in FY07 stood at Rs 97 per kg.
Tyre demand robust with buoyancy in replacement market
Tyre demand growth, including exports, for June 2007 quarter in the country stood at 6.4% with strong replacement market (RM) demand. RM demand increased by 10.4%, compensating flat growth in original equipment manufacturers (OEM) demand. Exports continued to show strong growth at 8.7%. With the Indian economy growing at over 9%, tyre demand is expected to remain strong.
Financials (Rs.Crores)
FY06 FY07 FY08E FY09E
Revenues 1,747 2,131 2,289 2,448
yoy growth (%) - 22.0 7.4 7.0
EBIDTA 69 116 192 212
EBIDTA margin (%) 3.9 5.4 8.4 8.7
PAT 1 24 92 90
Pre-exceptional PAT 1 24 76 90
yoy growth (%) - 4,535.8 218.3 18.2
EPS (Rs) 0.1 5.3 16.7 19.8
P/E (x) - 35.0 11.0 9.3
EV/EBIDTA (x) 12.0 8.7 5.4 4.6
ROE (%) 0.1 6.4 16.4 16.3
ROCE (%) 8.2 10.4 14.7 15.3
Source: Company, India Infoline Research
Attractive valuations
The buoyancy in automobile sector and stability in raw material prices with a negative bias is expected to benefit CEAT. The company has planned to de-merge its investment portfolio into a separate company. Per share value of investment at current prices stands at Rs 98. We have valued CEAT at 10x of its FY09E EPS of Rs19.8 and assigned Rs 32 for its investment portfolio. Our sum of parts value for CEAT comes to Rs 230. We recommend BUY.
Ceat : Reco Price Rs. 176.50 CMP: Rs.176.50 (Gain 0.00%)
The buoyancy in automobile sector and stability in raw material prices with a negative bias is expected to benefit CEAT. The company also plans to de-merge its investment portfolio into a separate company making it a good buying opportunity.
BUY
CEAT LTD CMP Rs176.50
CEAT, a diversified tyre major, is ramping up its production facilities to benefit from the uptrend in tyre offtake. It has planned to modernize its existing facilities and double its Off The Road (OTR) capacity, which will boost volumes in FY08 and FY09. The proposed sale of land at its Bhandup facility and relocating out of Mumbai is expected to boost its capex plans and increase margins. CEAT is planning to invest in a CV radial tyre facility over the next two years. It is expected to invest over Rs 500 crore in the next 2-3 years to ramp up its capacities. It plans to increase truck & bus radial sales from 600-700 tyres per month to 4,000-5,000 by June 2008 through its existing arrangement with Pirelli and outsourcing from China. We recommend a BUY with a target of Rs 230, implying upside of 31%.
Company Background
CEAT is present in commercial vehicles (CV), passenger car radials, two-wheeler, tractor, OTR and others segments. Its popular brands include LUG and RIB in T&B and LCV segments, SAMRAAT in Tractor, ENDURA in PV segment and SECURA in two-wheeler segment. It has a total capacity of 385 tons per day (tpd) at two plants in Maharashtra. It sources two-wheeler tyres from private players.
Shareholding pattern
As on 30th June 2007 Holding
(%) No. of shares
(in Lakhs)
Promoters
43.2 197.1
Non-promoter
Corporate Holding 5.8 26.3
Institutions 24.6 112.3
Foreign 8.7 39.0
Public & Others 17.7 81.0
Fall in raw material costs boosts EBIDTA margin:
Tyre business is raw material intensive. Natural rubber prices were on a downward trend for the past 6 months and are expected to continue to slide in the coming quarters. In Q1FY08, fall in natural rubber prices and stable crude-based raw material prices boosted EBIDTA margin by 550 bps to 9.2%. Apart from this, CEAT's hedging policy for raw materials has shown good results in the past few quarters. Benchmark rubber price is hovering around Rs 88 per kg at present with year to date average at Rs 85 per kg. Average natural rubber price for CEAT in FY07 stood at Rs 97 per kg.
Tyre demand robust with buoyancy in replacement market
Tyre demand growth, including exports, for June 2007 quarter in the country stood at 6.4% with strong replacement market (RM) demand. RM demand increased by 10.4%, compensating flat growth in original equipment manufacturers (OEM) demand. Exports continued to show strong growth at 8.7%. With the Indian economy growing at over 9%, tyre demand is expected to remain strong.
Financials (Rs.Crores)
FY06 FY07 FY08E FY09E
Revenues 1,747 2,131 2,289 2,448
yoy growth (%) - 22.0 7.4 7.0
EBIDTA 69 116 192 212
EBIDTA margin (%) 3.9 5.4 8.4 8.7
PAT 1 24 92 90
Pre-exceptional PAT 1 24 76 90
yoy growth (%) - 4,535.8 218.3 18.2
EPS (Rs) 0.1 5.3 16.7 19.8
P/E (x) - 35.0 11.0 9.3
EV/EBIDTA (x) 12.0 8.7 5.4 4.6
ROE (%) 0.1 6.4 16.4 16.3
ROCE (%) 8.2 10.4 14.7 15.3
Source: Company, India Infoline Research
Attractive valuations
The buoyancy in automobile sector and stability in raw material prices with a negative bias is expected to benefit CEAT. The company has planned to de-merge its investment portfolio into a separate company. Per share value of investment at current prices stands at Rs 98. We have valued CEAT at 10x of its FY09E EPS of Rs19.8 and assigned Rs 32 for its investment portfolio. Our sum of parts value for CEAT comes to Rs 230. We recommend BUY.
Sunday, September 9, 2007
OPTION CALL SERVICE
SERVICE:-
WE DO PROVIDE OPTION CALLS IN THIS SERVICE, IN THIS SERVICE OUR STRATEGY IS TO BUY MULTIPLE OF 2 LOT N HOLD THEM TILL OUR TGT GET COMPLETED, THERE ARE MANY MORE RULES TO EXECUTE DURING THESE CALL, WHICH WE WILL TELL AS U BE OUR CLIENT, IN THIS SERVICE OUR TGT ARE T1-50%, T2-100%, T3 UNLIMITED PROFIT TILL EXPIRY..
NUMBER OF CALLS:-
5 TO 10 IN A MONTH, DEPEND ON MKT
CHARGES:-
1000 RS FOR 1 CALL OR 5000 RS MONTHLY !!
SMS SERVICE WILL BE PROVIDED TO MONTHLY SERVICE SUBSCRIBER, IF HE IS INTERESTED..!!
IN ALL 3 SERVICE, SOMETIMES WE PROVIDE GUD LONG TERM INVESTMENT N SHORT TERM MOMENTUM CALLS N OPTION CALLS ALSO FREE OF COST AS BONUS TO OUR LOYAL PAID CLIENTS !!
NO FREE TRIAL !! U CAN TAKE PAID TRIAL N IF U DNT GER PROFIT THN UR FEES WILL BE GIVEN BACK TO U, THIS SYSTEM IS DONE FOR MAKING AWAY PEOPLE WHO TAKE TRIAL FOR TIMEPASS!!
CONTACT ME ON AJAY8000@YAHOO.COM OR ADD AJAY8000 ON YAHOO MESSENGER OR CALL ME ON 9928856677 FOR ANY MORE DETAILS REGARDING SERVICE OR FEES OR BANK DETAILS ETC. !!
SUBSCRIPTION DETAILS:-
DEPOSIT "A/C" PAYEE CHEQUE/D.D/CASH IN YOUR NEAREST ICICI BANK OR TRANSFER FUND THROUGH ONLINE NET BANKING !!
BANK : ICICI BANK
NAME : MANOJ KUMAR CHOUDHARY
SAVING A/C NO : 018401518959
BRANCH : KOTA, RAJASTHAN
AFTER DEPOSITING PAYMENT, PLEASE FILL FOLLOWING DETAILS AND EMAIL US ON KHICHDITIPS@GMAIL.COM
NAME :
EMAIL ID :
YAHOO ID :
MOBILE NO. :
CITY :
STATE :
AMOUNT DEPOSITED :
YOUR BANK :
CHEQUE/DD/ONLINE TRANS. ID NO. :
DATE OF CHEQUE/DD/ONLINE TRANS. :
WE DO PROVIDE OPTION CALLS IN THIS SERVICE, IN THIS SERVICE OUR STRATEGY IS TO BUY MULTIPLE OF 2 LOT N HOLD THEM TILL OUR TGT GET COMPLETED, THERE ARE MANY MORE RULES TO EXECUTE DURING THESE CALL, WHICH WE WILL TELL AS U BE OUR CLIENT, IN THIS SERVICE OUR TGT ARE T1-50%, T2-100%, T3 UNLIMITED PROFIT TILL EXPIRY..
NUMBER OF CALLS:-
5 TO 10 IN A MONTH, DEPEND ON MKT
CHARGES:-
1000 RS FOR 1 CALL OR 5000 RS MONTHLY !!
SMS SERVICE WILL BE PROVIDED TO MONTHLY SERVICE SUBSCRIBER, IF HE IS INTERESTED..!!
IN ALL 3 SERVICE, SOMETIMES WE PROVIDE GUD LONG TERM INVESTMENT N SHORT TERM MOMENTUM CALLS N OPTION CALLS ALSO FREE OF COST AS BONUS TO OUR LOYAL PAID CLIENTS !!
NO FREE TRIAL !! U CAN TAKE PAID TRIAL N IF U DNT GER PROFIT THN UR FEES WILL BE GIVEN BACK TO U, THIS SYSTEM IS DONE FOR MAKING AWAY PEOPLE WHO TAKE TRIAL FOR TIMEPASS!!
CONTACT ME ON AJAY8000@YAHOO.COM OR ADD AJAY8000 ON YAHOO MESSENGER OR CALL ME ON 9928856677 FOR ANY MORE DETAILS REGARDING SERVICE OR FEES OR BANK DETAILS ETC. !!
SUBSCRIPTION DETAILS:-
DEPOSIT "A/C" PAYEE CHEQUE/D.D/CASH IN YOUR NEAREST ICICI BANK OR TRANSFER FUND THROUGH ONLINE NET BANKING !!
BANK : ICICI BANK
NAME : MANOJ KUMAR CHOUDHARY
SAVING A/C NO : 018401518959
BRANCH : KOTA, RAJASTHAN
AFTER DEPOSITING PAYMENT, PLEASE FILL FOLLOWING DETAILS AND EMAIL US ON KHICHDITIPS@GMAIL.COM
NAME :
EMAIL ID :
YAHOO ID :
MOBILE NO. :
CITY :
STATE :
AMOUNT DEPOSITED :
YOUR BANK :
CHEQUE/DD/ONLINE TRANS. ID NO. :
DATE OF CHEQUE/DD/ONLINE TRANS. :
SURE SHOT CALLS
SERVICE:-
IN THIS SERVICE WE WILL PROVIDE U SHORT TERM DELIVERY CALLS FRM 1 DAY TO 1 WEEK N SOMETIMES 1 MONTH, IT CAN BE FRM FUTURE OR OPTIONS. THIS SERVICE IS AVAILABLE IN 2 DIFFERENT PART
A:- 1000 RS FOR 1 CALL, IN THIS WE WILL ASSURE U MINIMUM 5000 RS PROFIT ON 1 SCRIPT IN MAXIMUM 5 TRADING SESSION. WE MAKE U REGULAR UPDATE ABT THIS SCRIPT N INFORM U EXIT LEVEL ACCORDING TO MKT N THE SCRIPT MOVEMENT.
B:- 5000 RS FOR WHOLE MONTH, IN THIS SERVICE WE ASSURE U MINIMUM 30,000 RS PROFIT PER MONTH IN WHOLE MONTH, IT CAN BE FRM 1 SCRIPT OR MORE, DIFFERENCE BTWN A & B IS THT IN MONTHLY SUBSCRIPTION U WILL GET 30K PROFIT FRM 5K FEES N IN SINGLE CALL U WILL GET 25K PROFIT ONLY N IN MONTHLY SERVICE U COULD EARN MORE THN 30K ALSO, WE WILL GIVE FEW SEPCIALY FACILITY LIKE SMS SERVICE ETC TO MONTHLY SUBSCRIBE CLIENTS N FEW MORE THINGS, BCOZ WE WANT TO INCREASE MONTHLY CLIENT INSTEAD OF SINGLE CALL CLIENT.. ASK US FOR MORE DETAILS , QUERIES N DIFFERENCE BTWN BOTH SERVICE.
GUD FOR PERSON, WHO CNT GIVE TIME FOR MKT BCOZ OF JOB N WHO DNT WANA TAKE MANY POSITIONS AT A TIME N WHO WANT SAFE N SURE SHOT MONEY WITHOUT ANY TENSION. IN THIS MONTHLY SERVICE WE WILL MAKE U ALERT N UPDATE REGULARLY BY SMS OR CALL ON MOBILE.
INVESTMENT NEEDED FOR THIS SERVICE IS 1.5 TO 3 LAKH, SO U CAN BUY N HOLD 2 FUTURE LOTS AT 1 TIME MAXIMUM !!
IN ALL 3 SERVICE, SOMETIMES WE PROVIDE GUD LONG TERM INVESTMENT N SHORT TERM MOMENTUM CALLS N OPTION CALLS ALSO FREE OF COST AS BONUS TO OUR LOYAL PAID CLIENTS !!
NO FREE TRIAL !! U CAN TAKE PAID TRIAL N IF U DNT GER PROFIT THN UR FEES WILL BE GIVEN BACK TO U, THIS SYSTEM IS DONE FOR MAKING AWAY PEOPLE WHO TAKE TRIAL FOR TIMEPASS!!
CONTACT ME ON AJAY8000@YAHOO.COM OR ADD AJAY8000 ON YAHOO MESSENGER OR CALL ME ON 9928856677 FOR ANY MORE DETAILS REGARDING SERVICE OR FEES OR BANK DETAILS ETC. !!
SUBSCRIPTION DETAILS:-
DEPOSIT "A/C" PAYEE CHEQUE/D.D/CASH IN YOUR NEAREST ICICI BANK OR TRANSFER FUND THROUGH ONLINE NET BANKING !!
BANK : ICICI BANK
NAME : MANOJ KUMAR CHOUDHARY
SAVING A/C NO : 018401518959
BRANCH : KOTA, RAJASTHAN
AFTER DEPOSITING PAYMENT, PLEASE FILL FOLLOWING DETAILS AND EMAIL US ON KHICHDITIPS@GMAIL.COM
NAME :
EMAIL ID :
YAHOO ID :
MOBILE NO. :
CITY :
STATE :
AMOUNT DEPOSITED :
YOUR BANK :
CHEQUE/DD/ONLINE TRANS. ID NO. :
DATE OF CHEQUE/DD/ONLINE TRANS. :
IN THIS SERVICE WE WILL PROVIDE U SHORT TERM DELIVERY CALLS FRM 1 DAY TO 1 WEEK N SOMETIMES 1 MONTH, IT CAN BE FRM FUTURE OR OPTIONS. THIS SERVICE IS AVAILABLE IN 2 DIFFERENT PART
A:- 1000 RS FOR 1 CALL, IN THIS WE WILL ASSURE U MINIMUM 5000 RS PROFIT ON 1 SCRIPT IN MAXIMUM 5 TRADING SESSION. WE MAKE U REGULAR UPDATE ABT THIS SCRIPT N INFORM U EXIT LEVEL ACCORDING TO MKT N THE SCRIPT MOVEMENT.
B:- 5000 RS FOR WHOLE MONTH, IN THIS SERVICE WE ASSURE U MINIMUM 30,000 RS PROFIT PER MONTH IN WHOLE MONTH, IT CAN BE FRM 1 SCRIPT OR MORE, DIFFERENCE BTWN A & B IS THT IN MONTHLY SUBSCRIPTION U WILL GET 30K PROFIT FRM 5K FEES N IN SINGLE CALL U WILL GET 25K PROFIT ONLY N IN MONTHLY SERVICE U COULD EARN MORE THN 30K ALSO, WE WILL GIVE FEW SEPCIALY FACILITY LIKE SMS SERVICE ETC TO MONTHLY SUBSCRIBE CLIENTS N FEW MORE THINGS, BCOZ WE WANT TO INCREASE MONTHLY CLIENT INSTEAD OF SINGLE CALL CLIENT.. ASK US FOR MORE DETAILS , QUERIES N DIFFERENCE BTWN BOTH SERVICE.
GUD FOR PERSON, WHO CNT GIVE TIME FOR MKT BCOZ OF JOB N WHO DNT WANA TAKE MANY POSITIONS AT A TIME N WHO WANT SAFE N SURE SHOT MONEY WITHOUT ANY TENSION. IN THIS MONTHLY SERVICE WE WILL MAKE U ALERT N UPDATE REGULARLY BY SMS OR CALL ON MOBILE.
INVESTMENT NEEDED FOR THIS SERVICE IS 1.5 TO 3 LAKH, SO U CAN BUY N HOLD 2 FUTURE LOTS AT 1 TIME MAXIMUM !!
IN ALL 3 SERVICE, SOMETIMES WE PROVIDE GUD LONG TERM INVESTMENT N SHORT TERM MOMENTUM CALLS N OPTION CALLS ALSO FREE OF COST AS BONUS TO OUR LOYAL PAID CLIENTS !!
NO FREE TRIAL !! U CAN TAKE PAID TRIAL N IF U DNT GER PROFIT THN UR FEES WILL BE GIVEN BACK TO U, THIS SYSTEM IS DONE FOR MAKING AWAY PEOPLE WHO TAKE TRIAL FOR TIMEPASS!!
CONTACT ME ON AJAY8000@YAHOO.COM OR ADD AJAY8000 ON YAHOO MESSENGER OR CALL ME ON 9928856677 FOR ANY MORE DETAILS REGARDING SERVICE OR FEES OR BANK DETAILS ETC. !!
SUBSCRIPTION DETAILS:-
DEPOSIT "A/C" PAYEE CHEQUE/D.D/CASH IN YOUR NEAREST ICICI BANK OR TRANSFER FUND THROUGH ONLINE NET BANKING !!
BANK : ICICI BANK
NAME : MANOJ KUMAR CHOUDHARY
SAVING A/C NO : 018401518959
BRANCH : KOTA, RAJASTHAN
AFTER DEPOSITING PAYMENT, PLEASE FILL FOLLOWING DETAILS AND EMAIL US ON KHICHDITIPS@GMAIL.COM
NAME :
EMAIL ID :
YAHOO ID :
MOBILE NO. :
CITY :
STATE :
AMOUNT DEPOSITED :
YOUR BANK :
CHEQUE/DD/ONLINE TRANS. ID NO. :
DATE OF CHEQUE/DD/ONLINE TRANS. :
Saturday, September 8, 2007
YAHOO CALLS
SERVICE:-
LIVE INTRADAY TRADING CALLS DURING MKT HOURS ON YAHOO MESSENGER, WHICH WILL BE MIXTURE OF TECHNICAL CALL, INSIDE NEWS STORY, FUNDAMENTALS ETC. IN THIS WE ASSURE U DAILY 10K++ PROFIT DAILY ON AVERAGE WTH INVESTMENT OF 2 LOT THT IS 2.5 TO 3 LAKH RS.
NUMBER OF CALL:-
MOST OF THE DAYS 2 TO 3 CALLS IN A DAY N SOMETIME ONLY 1 N RARELY SOMEDAY EVEN 4-5.
CHARGES:-
5000 RS FOR 1 MONTH.
IN THIS CALL, WE ASSURE U 10K++ PROFIT DAILY ON AVERAGE, BUT U NEED TO BE AVAILABLE ON YAHOO MESSENGER WHOLE TRADING SESSION N DO HAVE TO TRADE OUR EVERY CALL N FAST WITHOUT ANY PERSONAL DECISION MAKING, THIS SERVICE IS FOR PERSON WHO HAVE GUD INVESTMENT N WANA MAKE SUCH GUD PROFIT ALSO !!
IN ALL 3 SERVICE, SOMETIMES WE PROVIDE GUD LONG TERM INVESTMENT N SHORT TERM MOMENTUM CALLS N OPTION CALLS ALSO FREE OF COST AS BONUS TO OUR LOYAL PAID CLIENTS !!
NO FREE TRIAL !! U CAN TAKE PAID TRIAL N IF U DNT GER PROFIT THN UR FEES WILL BE GIVEN BACK TO U, THIS SYSTEM IS DONE FOR MAKING AWAY PEOPLE WHO TAKE TRIAL FOR TIMEPASS!!
CONTACT ME ON AJAY8000@YAHOO.COM OR ADD AJAY8000 ON YAHOO MESSENGER OR CALL ME ON 9928856677 FOR ANY MORE DETAILS REGARDING SERVICE OR FEES OR BANK DETAILS ETC. !!
SUBSCRIPTION DETAILS:-
CHARGES Rs. 5000/- PM
CHARGES Rs. 13,500 FOR 3 MONTH
CHARGES Rs. 25,000 FOR 6 MONTH
DEPOSIT "A/C" PAYEE CHEQUE/D.D/CASH IN YOUR NEAREST ICICI BANK OR TRANSFER FUND THROUGH ONLINE NET BANKING !!
BANK : ICICI BANK
NAME : MANOJ KUMAR CHOUDHARY
SAVING A/C NO : 018401518959
BRANCH : KOTA, RAJASTHAN
AFTER DEPOSITING PAYMENT, PLEASE FILL FOLLOWING DETAILS AND EMAIL US ON KHICHDITIPS@GMAIL.COM
NAME :
EMAIL ID :
YAHOO ID :
MOBILE NO. :
CITY :
STATE :
AMOUNT DEPOSITED :
YOUR BANK :
CHEQUE/DD/ONLINE TRANS. ID NO. :
DATE OF CHEQUE/DD/ONLINE TRANS. :
LIVE INTRADAY TRADING CALLS DURING MKT HOURS ON YAHOO MESSENGER, WHICH WILL BE MIXTURE OF TECHNICAL CALL, INSIDE NEWS STORY, FUNDAMENTALS ETC. IN THIS WE ASSURE U DAILY 10K++ PROFIT DAILY ON AVERAGE WTH INVESTMENT OF 2 LOT THT IS 2.5 TO 3 LAKH RS.
NUMBER OF CALL:-
MOST OF THE DAYS 2 TO 3 CALLS IN A DAY N SOMETIME ONLY 1 N RARELY SOMEDAY EVEN 4-5.
CHARGES:-
5000 RS FOR 1 MONTH.
IN THIS CALL, WE ASSURE U 10K++ PROFIT DAILY ON AVERAGE, BUT U NEED TO BE AVAILABLE ON YAHOO MESSENGER WHOLE TRADING SESSION N DO HAVE TO TRADE OUR EVERY CALL N FAST WITHOUT ANY PERSONAL DECISION MAKING, THIS SERVICE IS FOR PERSON WHO HAVE GUD INVESTMENT N WANA MAKE SUCH GUD PROFIT ALSO !!
IN ALL 3 SERVICE, SOMETIMES WE PROVIDE GUD LONG TERM INVESTMENT N SHORT TERM MOMENTUM CALLS N OPTION CALLS ALSO FREE OF COST AS BONUS TO OUR LOYAL PAID CLIENTS !!
NO FREE TRIAL !! U CAN TAKE PAID TRIAL N IF U DNT GER PROFIT THN UR FEES WILL BE GIVEN BACK TO U, THIS SYSTEM IS DONE FOR MAKING AWAY PEOPLE WHO TAKE TRIAL FOR TIMEPASS!!
CONTACT ME ON AJAY8000@YAHOO.COM OR ADD AJAY8000 ON YAHOO MESSENGER OR CALL ME ON 9928856677 FOR ANY MORE DETAILS REGARDING SERVICE OR FEES OR BANK DETAILS ETC. !!
SUBSCRIPTION DETAILS:-
CHARGES Rs. 5000/- PM
CHARGES Rs. 13,500 FOR 3 MONTH
CHARGES Rs. 25,000 FOR 6 MONTH
DEPOSIT "A/C" PAYEE CHEQUE/D.D/CASH IN YOUR NEAREST ICICI BANK OR TRANSFER FUND THROUGH ONLINE NET BANKING !!
BANK : ICICI BANK
NAME : MANOJ KUMAR CHOUDHARY
SAVING A/C NO : 018401518959
BRANCH : KOTA, RAJASTHAN
AFTER DEPOSITING PAYMENT, PLEASE FILL FOLLOWING DETAILS AND EMAIL US ON KHICHDITIPS@GMAIL.COM
NAME :
EMAIL ID :
YAHOO ID :
MOBILE NO. :
CITY :
STATE :
AMOUNT DEPOSITED :
YOUR BANK :
CHEQUE/DD/ONLINE TRANS. ID NO. :
DATE OF CHEQUE/DD/ONLINE TRANS. :
Thursday, September 6, 2007
CALL PERFORMANCE AT MINIMUM
EVEN IF CALLS BOUGHT AT RECOMMENDED RATE N NT IN DIPS, THN WHT THE PROFIT WILL BE ??
1. RELIANCE INVESTMENT=11,700
2. SBI INVESTMENT=30,000
3. TATA STEEL INVESTMENT=18225
4. JP HYDRO=53125
5. RPL IVESTMENT=31825
OTHER INVESTMENT ARE SAME, SO NOW CHANGED TOTAL INVESTMENT IS 2,65,225 INSTEAD OF 2,43,025, SO IN THT CASE PROFIT IS 1,01,750 RS OR 38%..
BUT I THINK 38% RETURN IN 4 TRADING SESSION, IS ALSO GRT OR MONEY RAIN IN MY WORDS.. !!
WWW.KHICHDITIPS.BLOGSPOT.COM
1. RELIANCE INVESTMENT=11,700
2. SBI INVESTMENT=30,000
3. TATA STEEL INVESTMENT=18225
4. JP HYDRO=53125
5. RPL IVESTMENT=31825
OTHER INVESTMENT ARE SAME, SO NOW CHANGED TOTAL INVESTMENT IS 2,65,225 INSTEAD OF 2,43,025, SO IN THT CASE PROFIT IS 1,01,750 RS OR 38%..
BUT I THINK 38% RETURN IN 4 TRADING SESSION, IS ALSO GRT OR MONEY RAIN IN MY WORDS.. !!
WWW.KHICHDITIPS.BLOGSPOT.COM
51% RETURN IN 4 TRADING SESSION IN CALL OPTIONS
1. REL 800 CALL GIVEN AT 30 IS NOW 74.95, SOLD 1 AT 60 N HOLDING 2ND TILL EXPIRY FOR UNLIMITED MONEY..INVESTMENT=33,000..CMP=74250 RS
2.RELIANCE 2010 CALL GIVEN TO BUY AT 39 N BELOW, GOT CHANCE TILL 33 RS BELOW TO BUY, CMP IS 40.1 N HOLDING BOTH 2 LOT..IF BOUGHT AT 35 THN INVESTMENT=10,500.. CMP =12000
3.SBI 1620 CALL GIVEN TO BUY AT 60 N BELOW, GOT CHANCE TILL 43 RS BELOW TO BUY, CMP IS 67 N HOLDING BOTH 2 LOT..IF BOUGHT AT 50 THN INVESTMENT=25,000.. CMP=33,500
4.HINDUNILEVER 210 CALL GIVEN AT 4 N BELOW, CMP IS 8.9 RS, SOLD 1 CALL AT 8 N HOLDING 1 LOT..INVESTMENT=8000 RS, CMP IS 16,900..
5.IDBI 125 CALL GIVEN AT 7, CMP IS 15.45, SOLD 1 LOT AT 14 N HOLDING 2ND LOT FOR UNLIMITED MONEY..INVESTMENT=33,600.. CMP=70,680..
6.TATA STEEL 740 CALL GIVEN AT 13.5 N BELOW, GOT CHANCE TO BUY TILL 8 RS IN DOWN, CMP IS 10 RS, HOLDING 2 LOT..IF BOUGHT AT 10 THN INVSTMENT=13,500..CMP=13,500..
7.JPHYDRO 50 CALL GIVEN AT 4.25 N BELOW, GOT CHANCE TO BUY 3.2 RS IN DOWN, CMP IS 3.85 RS, HOLDING 2 LOT..IF TAKEN AT 3.75 THN INVESTMENT=46875..CMP=48125
8.IDFC 130 CALL GIVEN AT 5 N BELOW, GET CHANCE TO BUY TILL 4.5 RS , CMP IS 7.2 RS, HOLDING 2 LOT..
INVESTMENT=29,500..CMP=42,480..
9.RPL 125 CAL GIVEN TO BUY AT 4.75 N BELOW, GET CHANCE TO BUY TILL 3.35 IN DOWN, CMP IS 4.7 RS, HOLDING 2 LOT..IF BOUGHT AT 4 THN INVESTMENT=26,800..CMP=31,490..
10.NPTC 185 CALL GIVEN AT 6.5 N BELOW, GET CHANCE TO BUY IT TILL 4 IN DOW, CMP IS 7.4 RS, HOLDING 2 LOT..IF BOUGHT AT 5 THN INVESTMENT=16,250.. CMP=24,050 RS
TOTAL INVESTMENT ON ALL 10 CALLS=2,43,025 RS.. CMP=3,66,975.. MEANS PROFIT=3,66,975-2,43,025= 1,23,950 RS..51% RETURN IN 4 TRADING SESSION..
IT'S RAINING (MONEY) MAN..!!
2.RELIANCE 2010 CALL GIVEN TO BUY AT 39 N BELOW, GOT CHANCE TILL 33 RS BELOW TO BUY, CMP IS 40.1 N HOLDING BOTH 2 LOT..IF BOUGHT AT 35 THN INVESTMENT=10,500.. CMP =12000
3.SBI 1620 CALL GIVEN TO BUY AT 60 N BELOW, GOT CHANCE TILL 43 RS BELOW TO BUY, CMP IS 67 N HOLDING BOTH 2 LOT..IF BOUGHT AT 50 THN INVESTMENT=25,000.. CMP=33,500
4.HINDUNILEVER 210 CALL GIVEN AT 4 N BELOW, CMP IS 8.9 RS, SOLD 1 CALL AT 8 N HOLDING 1 LOT..INVESTMENT=8000 RS, CMP IS 16,900..
5.IDBI 125 CALL GIVEN AT 7, CMP IS 15.45, SOLD 1 LOT AT 14 N HOLDING 2ND LOT FOR UNLIMITED MONEY..INVESTMENT=33,600.. CMP=70,680..
6.TATA STEEL 740 CALL GIVEN AT 13.5 N BELOW, GOT CHANCE TO BUY TILL 8 RS IN DOWN, CMP IS 10 RS, HOLDING 2 LOT..IF BOUGHT AT 10 THN INVSTMENT=13,500..CMP=13,500..
7.JPHYDRO 50 CALL GIVEN AT 4.25 N BELOW, GOT CHANCE TO BUY 3.2 RS IN DOWN, CMP IS 3.85 RS, HOLDING 2 LOT..IF TAKEN AT 3.75 THN INVESTMENT=46875..CMP=48125
8.IDFC 130 CALL GIVEN AT 5 N BELOW, GET CHANCE TO BUY TILL 4.5 RS , CMP IS 7.2 RS, HOLDING 2 LOT..
INVESTMENT=29,500..CMP=42,480..
9.RPL 125 CAL GIVEN TO BUY AT 4.75 N BELOW, GET CHANCE TO BUY TILL 3.35 IN DOWN, CMP IS 4.7 RS, HOLDING 2 LOT..IF BOUGHT AT 4 THN INVESTMENT=26,800..CMP=31,490..
10.NPTC 185 CALL GIVEN AT 6.5 N BELOW, GET CHANCE TO BUY IT TILL 4 IN DOW, CMP IS 7.4 RS, HOLDING 2 LOT..IF BOUGHT AT 5 THN INVESTMENT=16,250.. CMP=24,050 RS
TOTAL INVESTMENT ON ALL 10 CALLS=2,43,025 RS.. CMP=3,66,975.. MEANS PROFIT=3,66,975-2,43,025= 1,23,950 RS..51% RETURN IN 4 TRADING SESSION..
IT'S RAINING (MONEY) MAN..!!
Tuesday, September 4, 2007
RIL acquires petroleum retailing assets of GAPCO in East Africa
Reliance has acquired a Majority stake and Management control of Gulf Africa Petroleum Corporation (GAPCO), a company which has a significant presence in East Africa in the petroleum downstream sector. The acquisition has been made through a wholly owned subsidiary, Reliance Industries Middle East, Dmcc (RIME), a company registered in United Arab Emirates.
GAPCO, an entity based in East and Central Africa with headquarters in Mauritius, owns and operates large storage terminalling facilities and a retail distribution network in several countries – including Tanzania, Uganda, Kenya. It also owns and operates large storage terminals in Dar Es Salaam (Tanzania), Mombassa (Kenya), Kampala (Uganda) and has other well spread depots in East & Central Africa. It also operates more than 250 Outlets covering retail and industrial segments.
Reliance considers its acquisition of GAPCO as strategic in nature. The East African countries, where GAPCO operates, have demonstrated rapid economic growth and have progressive government policies in place. The demand for petroleum products in these countries is rising steadily and has mirrored the rapid GDP growth. Import of petroleum products in these countries is also expected to rise in the near future. Further, these markets are easily accessible from India and in that sense provide a strategic fit for exports from India.
Reliance owns and operates the world’s largest greenfield refinery (660,000 barrels per day capacity) at Jamnagar on the west coast of India and is setting up another similar sized export-oriented refinery (580,000 barrels per day capacity) at the same location through Reliance Petroleum Limited (RPL). Post commissioning of this refinery by December 2008, Jamnagar will become the Refining hub of the world, processing approximately 1.2 million barrels of crude oil per day. This will be the largest refining complex at any single location in the world. Reliance is India’s largest exporter with its petroleum products being sold in over hundred countries covering Europe, Americas, Far East, and Africa in developed and emerging economies across various continents and geographies.
Acquisition of GAPCO by Reliance is a strategic step towards achieving its global vision in the petroleum downstream sector by integrating the entire value chain consisting of Refining, Shipping, Trading, Terminalling and Marketing through retail and wholesale segments.
Integration of this entire global value chain presents Reliance an extremely attractive potential upside to gain further prominence in the global petroleum downstream arena. This will help Reliance establish a natural marketing sink for its refinery products and capture value up to the last mile in the global petroleum value chain.
RIL is also believed to have set its sights on a refinery in Kenya. It has expressed interest in acquiring a 50% stake held by the oil marketers in the Kenya Petroleum Refinery Ltd., which is half owned by Shell, BP and Chevron. The Kenyan government owns the remaining half of Kenya Petroleum. The refinery has a capacity to process about 60,000 barrels per day (bpd).
According to allAfrica.com, RIL is also keen be a major player the monthly tenders for oil importation in a system dubbed Open Tender System (OTS) where one marketer imports crude oil on behalf of other players.
RIL is also keen on building a retail presence in Kenya.
Source-Various
GAPCO, an entity based in East and Central Africa with headquarters in Mauritius, owns and operates large storage terminalling facilities and a retail distribution network in several countries – including Tanzania, Uganda, Kenya. It also owns and operates large storage terminals in Dar Es Salaam (Tanzania), Mombassa (Kenya), Kampala (Uganda) and has other well spread depots in East & Central Africa. It also operates more than 250 Outlets covering retail and industrial segments.
Reliance considers its acquisition of GAPCO as strategic in nature. The East African countries, where GAPCO operates, have demonstrated rapid economic growth and have progressive government policies in place. The demand for petroleum products in these countries is rising steadily and has mirrored the rapid GDP growth. Import of petroleum products in these countries is also expected to rise in the near future. Further, these markets are easily accessible from India and in that sense provide a strategic fit for exports from India.
Reliance owns and operates the world’s largest greenfield refinery (660,000 barrels per day capacity) at Jamnagar on the west coast of India and is setting up another similar sized export-oriented refinery (580,000 barrels per day capacity) at the same location through Reliance Petroleum Limited (RPL). Post commissioning of this refinery by December 2008, Jamnagar will become the Refining hub of the world, processing approximately 1.2 million barrels of crude oil per day. This will be the largest refining complex at any single location in the world. Reliance is India’s largest exporter with its petroleum products being sold in over hundred countries covering Europe, Americas, Far East, and Africa in developed and emerging economies across various continents and geographies.
Acquisition of GAPCO by Reliance is a strategic step towards achieving its global vision in the petroleum downstream sector by integrating the entire value chain consisting of Refining, Shipping, Trading, Terminalling and Marketing through retail and wholesale segments.
Integration of this entire global value chain presents Reliance an extremely attractive potential upside to gain further prominence in the global petroleum downstream arena. This will help Reliance establish a natural marketing sink for its refinery products and capture value up to the last mile in the global petroleum value chain.
RIL is also believed to have set its sights on a refinery in Kenya. It has expressed interest in acquiring a 50% stake held by the oil marketers in the Kenya Petroleum Refinery Ltd., which is half owned by Shell, BP and Chevron. The Kenyan government owns the remaining half of Kenya Petroleum. The refinery has a capacity to process about 60,000 barrels per day (bpd).
According to allAfrica.com, RIL is also keen be a major player the monthly tenders for oil importation in a system dubbed Open Tender System (OTS) where one marketer imports crude oil on behalf of other players.
RIL is also keen on building a retail presence in Kenya.
Source-Various
MULTIBAGGERS : Venkys
Ashish Chugh, Investment Advisor
Venkys : Reco Price Rs. 157.05 CMP: Rs.157.05
Venky’s has the potential to attract the Institutional Investors. Smart investors will do well to accumulate the stock at the current levels and on declines.The stock may well turn out to be the McDowell of the Indian poultry industry.
September 4, 2007
Venky’s India Ltd.
CMP – Rs. 157.05 NSE Symbol - VENKEYS BSE Code –523261
Venkys India Ltd. is a leading producer of poultry products in India. The company’s product portfolio includes animal health products, pellet feeds, processed, and further processed chicken products, solvent oil extraction, and Specific Pathogen Free Eggs.
The Venkateshwara Hatcheries Group also caters to the related requirements of the poultry sector, such as poultry feed, vaccines, medicines and health products. The Poultry & Poultry Products business accounts for lion’s share of the revenues of the company. The other major contributors to revenue include Poultry Feed, Animal Health Products, and Solvent Extraction. Diversifying from mainstream poultry products, Venkys (India) Limited has added to its credit, manufacturing facilities for nutritional health products for humans, and pet food and health care products. The company has steadily grown to over 30 units spread across India.
The company also produces high-tech specific pathogen-free eggs (SPFE). The company's Specific Pathogen Free Egg unit is among four such units in the world and the only one of its kind in the developing world. These eggs are used for making vaccines for human beings and chicken as well. Though this business accounts for only 6% of total revenues, its profitability is very high. The company produces a wide range of animal health products like antibiotics, growth promoters and feed supplements.
The company faces competition from the unorganized sector in the Processed Chicken segment. However, the company has carved a niche for itself and supplies its products to quality-conscious institutional consumers in the hospitality industry. These include Domino's, KFC, Mc Donalds and Pizza Hut, major five star hotels and flight kitchens. The company is witnessing a good growth in demand from this segment. The company also sells various poultry products in the ready-to-eat segment through a nationwide distribution network. These products are sold under the brand name VENKY’S and are available at Supermarkets and retail stores in all major cities in India.
Financials
The latest financials of the company are given as under :-
Quarterly Results: Venky's (India) Ltd (Curr: Rs in Cr.)
Particulars Quarter Ended Quarter Ended Quarter Ended Year Ended Year Ended Year Ended
(Jun 07) (Jun 06) (% Var) (Mar 07) (12) (Mar 06) (12) (%Var)
Sales 120.86 88.54 36.5 410.48 381.69 7.5
Other Income 3.21 1.44 122.9 6.4 2.09 206.2
PBIDT 17.18 7.24 137.3 30.31 27.13 11.7
Interest 1.97 1.14 72.8 4.83 3.17 52.4
PBDT 15.21 6.1 149.3 25.48 23.96 6.3
Depreciation 2.03 1.72 18 7.34 6.17 19
PBT 13.18 4.38 200.9 18.14 17.79 2
Tax 4.1 1.42 188.7 5.1 7.85 -35
Deferred Tax 0.02 -0.09 LP 1.52 -1.83 LP
PAT 9.06 3.05 197 11.52 11.77 -2.1
(Source : Capitaline)
Latest Data As On 03/09/2007
Latest Equity(Subscribed) 9.39
Latest Reserve 112.32
Latest Bookvalue -Unit Curr. 129.62
Latest EPS -Unit Curr. 18.67
Latest Market Price -Unit Curr. 157.05
Latest P/E Ratio 8.41
52 Week High -Unit Curr. 182
52 Week High-Date 7/30/2007
52 Week Low -Unit Curr. 97.6
52 Week Low-Date 2/21/2007
Market Capitalisation 147.47
Stock Exchange BSE
Dividend Yield -% 1.91
(Source : Capitaline)
The company’s performance was severely impacted last year due to the outbreak of bird flu. The situation seems to have improved considerably now. For the quarter ended June 07, the company has reported a 36% increase in its Revenues to Rs.121 crores, the PAT has increased by around 200% to Rs.9.06 crores resulting in a EPS of Rs.9.60 for the quarter. The company has improved its Operating Margins from 8.2% to 14.2%, inspite of the high prices of Maize, a key input.
Conclusion:
Venky's India is the largest and No.1 player in the organised sector in the Indian poultry industry, an industry where it is difficult to even recall a No.2. The company has totally integrated operations and has units spread at 30 locations across the country. The company has set up a new plant which will process 44,000 chickens a day to make Teriyaki, to be exported to Japan.
The business carries some risks, major ones being – 1) The performance of the company can be severely impacted in the event of re-occurrence of bird flu disease; and 2) The increase in the prices of Maize, a key raw material can impact profitability.
We like the business model of the company – the company has presence in both the Institutional and Retail segment and also in Exports. Venky’s is a national brand and enjoys the positioning of a hygienic premium product and has a nationwide distribution network.
Taking a stake in Venky’s India is akin to taking an exposure in the Indian Poultry industry, at a ridiculously low market cap of under Rs.150 crores. The stock is currently underowned by the Institutional Investor. However, given the size and scale of operations of the company and its leadership position in the Industry, the stock has the potential to attract the Institutional Investors. The promoter group acquiring the shares of the company through open markets in the recent past is another positive. Smart investors will do well to accumulate the stock at the current levels and on declines. The stock may well turn out to be the McDowell of the Indian poultry industry.
Venkys : Reco Price Rs. 157.05 CMP: Rs.157.05
Venky’s has the potential to attract the Institutional Investors. Smart investors will do well to accumulate the stock at the current levels and on declines.The stock may well turn out to be the McDowell of the Indian poultry industry.
September 4, 2007
Venky’s India Ltd.
CMP – Rs. 157.05 NSE Symbol - VENKEYS BSE Code –523261
Venkys India Ltd. is a leading producer of poultry products in India. The company’s product portfolio includes animal health products, pellet feeds, processed, and further processed chicken products, solvent oil extraction, and Specific Pathogen Free Eggs.
The Venkateshwara Hatcheries Group also caters to the related requirements of the poultry sector, such as poultry feed, vaccines, medicines and health products. The Poultry & Poultry Products business accounts for lion’s share of the revenues of the company. The other major contributors to revenue include Poultry Feed, Animal Health Products, and Solvent Extraction. Diversifying from mainstream poultry products, Venkys (India) Limited has added to its credit, manufacturing facilities for nutritional health products for humans, and pet food and health care products. The company has steadily grown to over 30 units spread across India.
The company also produces high-tech specific pathogen-free eggs (SPFE). The company's Specific Pathogen Free Egg unit is among four such units in the world and the only one of its kind in the developing world. These eggs are used for making vaccines for human beings and chicken as well. Though this business accounts for only 6% of total revenues, its profitability is very high. The company produces a wide range of animal health products like antibiotics, growth promoters and feed supplements.
The company faces competition from the unorganized sector in the Processed Chicken segment. However, the company has carved a niche for itself and supplies its products to quality-conscious institutional consumers in the hospitality industry. These include Domino's, KFC, Mc Donalds and Pizza Hut, major five star hotels and flight kitchens. The company is witnessing a good growth in demand from this segment. The company also sells various poultry products in the ready-to-eat segment through a nationwide distribution network. These products are sold under the brand name VENKY’S and are available at Supermarkets and retail stores in all major cities in India.
Financials
The latest financials of the company are given as under :-
Quarterly Results: Venky's (India) Ltd (Curr: Rs in Cr.)
Particulars Quarter Ended Quarter Ended Quarter Ended Year Ended Year Ended Year Ended
(Jun 07) (Jun 06) (% Var) (Mar 07) (12) (Mar 06) (12) (%Var)
Sales 120.86 88.54 36.5 410.48 381.69 7.5
Other Income 3.21 1.44 122.9 6.4 2.09 206.2
PBIDT 17.18 7.24 137.3 30.31 27.13 11.7
Interest 1.97 1.14 72.8 4.83 3.17 52.4
PBDT 15.21 6.1 149.3 25.48 23.96 6.3
Depreciation 2.03 1.72 18 7.34 6.17 19
PBT 13.18 4.38 200.9 18.14 17.79 2
Tax 4.1 1.42 188.7 5.1 7.85 -35
Deferred Tax 0.02 -0.09 LP 1.52 -1.83 LP
PAT 9.06 3.05 197 11.52 11.77 -2.1
(Source : Capitaline)
Latest Data As On 03/09/2007
Latest Equity(Subscribed) 9.39
Latest Reserve 112.32
Latest Bookvalue -Unit Curr. 129.62
Latest EPS -Unit Curr. 18.67
Latest Market Price -Unit Curr. 157.05
Latest P/E Ratio 8.41
52 Week High -Unit Curr. 182
52 Week High-Date 7/30/2007
52 Week Low -Unit Curr. 97.6
52 Week Low-Date 2/21/2007
Market Capitalisation 147.47
Stock Exchange BSE
Dividend Yield -% 1.91
(Source : Capitaline)
The company’s performance was severely impacted last year due to the outbreak of bird flu. The situation seems to have improved considerably now. For the quarter ended June 07, the company has reported a 36% increase in its Revenues to Rs.121 crores, the PAT has increased by around 200% to Rs.9.06 crores resulting in a EPS of Rs.9.60 for the quarter. The company has improved its Operating Margins from 8.2% to 14.2%, inspite of the high prices of Maize, a key input.
Conclusion:
Venky's India is the largest and No.1 player in the organised sector in the Indian poultry industry, an industry where it is difficult to even recall a No.2. The company has totally integrated operations and has units spread at 30 locations across the country. The company has set up a new plant which will process 44,000 chickens a day to make Teriyaki, to be exported to Japan.
The business carries some risks, major ones being – 1) The performance of the company can be severely impacted in the event of re-occurrence of bird flu disease; and 2) The increase in the prices of Maize, a key raw material can impact profitability.
We like the business model of the company – the company has presence in both the Institutional and Retail segment and also in Exports. Venky’s is a national brand and enjoys the positioning of a hygienic premium product and has a nationwide distribution network.
Taking a stake in Venky’s India is akin to taking an exposure in the Indian Poultry industry, at a ridiculously low market cap of under Rs.150 crores. The stock is currently underowned by the Institutional Investor. However, given the size and scale of operations of the company and its leadership position in the Industry, the stock has the potential to attract the Institutional Investors. The promoter group acquiring the shares of the company through open markets in the recent past is another positive. Smart investors will do well to accumulate the stock at the current levels and on declines. The stock may well turn out to be the McDowell of the Indian poultry industry.
MULTIBAGGER : Hotel Leela
S.P.Tulsian, Investment Advisor
Hotel Leela Venture : Reco Price Rs. 43.50 CMP: Rs.43.50 (Gain 0.00%)
For FY 07, the topline of the company was Rs 411.83 crores, EBITDA was at Rs 212.84 crores, PBT of Rs 189.51 crores and PAT of Rs 126.24 crores. EPS was at Rs 2.31 and at Rs 3.41 after considering exceptional gain.
Hotel Leela venture presently have hotels in Mumbai, Bangalore, Goa and Kovalam Beach and is setting up hotels at Gurgaon, Udaipur, Chennai, Hyderabad and Pune, which would be operational between 2007 and 2010.
For FY 07, the topline of the company was Rs 411.83 crores, EBITDA was at Rs 212.84 crores, PBT of Rs 189.51 crores and PAT of Rs 126.24 crores. This PAT is after booking an exceptional gain of Rs 40.58 crores, without which, PAT would have been Rs 85.66 crores. EPS was at Rs 2.31 and at Rs 3.41 after considering exceptional gain.
For June 07 quarter, the total income of the company, was at Rs 103.47 crores, with EBITDA of Rs 52.29 crores, PBT of Rs 35.92 crores, and PAT of Rs 30.16 crores, resulting in an EPS of 81 paise, on face-value of Rs 2 per share.
The company has acquired, a 3 acre plot in South Delhi for Rs 611 crores in March 07, and since then, market is apprehensive on future working, expecting company to go in huge debt, thus adversely affecting its financial working. However, the company is confident, in view of Commonwealth Game in 2010, and is setting up 7 Star Deluxe hotel.
The massive expansions at Gurgaon, Udaipur, Chennai, Hyderabad and Pune is also not well received by the market. However, management maintains that all are growing cities and this would give Pan India presence to the company, as also giving good growth from FY 08 onwards in phases, till FY 11.
The booming season for hotel industry is from October to March every year. The company has also started charging room rent in rupee based tariff which would improve its margin in peak season.
For FY 08, the company shall be able to post a topline of Rs 475 crores and PAT of Rs 125 crores, resulting in an EPS of Rs 3.40 per share.
On forward earning of FY 08, the share is ruling at a PE multiple of close to 13, which is very low, for any leading hotel chain. Due to lack of interest in hotel stocks and more especially for company, the share is now ruling at Rs 43 levels, which makes it a risk free buy for an expected return of 50% in the next 6 to 12 months.
Hotel Leela Venture : Reco Price Rs. 43.50 CMP: Rs.43.50 (Gain 0.00%)
For FY 07, the topline of the company was Rs 411.83 crores, EBITDA was at Rs 212.84 crores, PBT of Rs 189.51 crores and PAT of Rs 126.24 crores. EPS was at Rs 2.31 and at Rs 3.41 after considering exceptional gain.
Hotel Leela venture presently have hotels in Mumbai, Bangalore, Goa and Kovalam Beach and is setting up hotels at Gurgaon, Udaipur, Chennai, Hyderabad and Pune, which would be operational between 2007 and 2010.
For FY 07, the topline of the company was Rs 411.83 crores, EBITDA was at Rs 212.84 crores, PBT of Rs 189.51 crores and PAT of Rs 126.24 crores. This PAT is after booking an exceptional gain of Rs 40.58 crores, without which, PAT would have been Rs 85.66 crores. EPS was at Rs 2.31 and at Rs 3.41 after considering exceptional gain.
For June 07 quarter, the total income of the company, was at Rs 103.47 crores, with EBITDA of Rs 52.29 crores, PBT of Rs 35.92 crores, and PAT of Rs 30.16 crores, resulting in an EPS of 81 paise, on face-value of Rs 2 per share.
The company has acquired, a 3 acre plot in South Delhi for Rs 611 crores in March 07, and since then, market is apprehensive on future working, expecting company to go in huge debt, thus adversely affecting its financial working. However, the company is confident, in view of Commonwealth Game in 2010, and is setting up 7 Star Deluxe hotel.
The massive expansions at Gurgaon, Udaipur, Chennai, Hyderabad and Pune is also not well received by the market. However, management maintains that all are growing cities and this would give Pan India presence to the company, as also giving good growth from FY 08 onwards in phases, till FY 11.
The booming season for hotel industry is from October to March every year. The company has also started charging room rent in rupee based tariff which would improve its margin in peak season.
For FY 08, the company shall be able to post a topline of Rs 475 crores and PAT of Rs 125 crores, resulting in an EPS of Rs 3.40 per share.
On forward earning of FY 08, the share is ruling at a PE multiple of close to 13, which is very low, for any leading hotel chain. Due to lack of interest in hotel stocks and more especially for company, the share is now ruling at Rs 43 levels, which makes it a risk free buy for an expected return of 50% in the next 6 to 12 months.
Sunday, September 2, 2007
Welspun Gujarat Stahl Roh
PN Vijay, Investment Advisor
Welspun Gujarat Stahl Roh : Reco Price Rs. 247.35 CMP: Rs.247.35 (Gain 0.00%)
Welspun Gujarat Stahl Rohren is a part of high growth sector. The oil and energy sector is becoming very big in India and India is emerging as the pipe manufacturing hub due to its lower cost of production. Welspun is the largest player in this segment.
Welspun Gujarat Stahl Rohren Ltd
Welspun is a leading player in Steel Pipe and Tube manufacturing sector. It caters to the growing oil and energy industry, both domestically and overseas. It has shown spectacular growth and has also expanded and integrated its production capacities fast.
Financial Highlights:
For the first quarter of FY-2007-08 the company put up an impressive performance. While the revenues grew 50.5% to Rs 806.7 crores, the Net profit grew in a very robust fashion up 164% to Rs 69.3 crores. The operating margin went up a whopping 3.7% to 16.6% mainly due to the profitable global orders from Exxon Mobil and Kinder Morgan.
Reasons to buy:
- Part of high growth sector. The oil and energy sector is becoming very big in India and India is emerging as the pipe manufacturing hub due to its lower cost of production. Welspun is the largest player in this segment.
- Welspun can boast of an impressive client list which includes many overseas giants, apart from Indian majors.
- The company is completing a backward integration project with an installation of a plate mill. This will expand the margins and boost the bottom line for 2007-08.
- The company has commissioned a plant in the US to service that profitable market.
- The profit growth has not been fully discounted in the valuation on a forward PE basis. The company is attractively priced 16 times its 2007-08 earnings. This compares favourably with a profit growth of more than 100% which Welspun is witnessing.
Concerns:
- A slow down in oil and exploration and production may lead to reduction in order book.
- High Steel prices may make a dent on fixed price contracts which the company presently may have.
Recommendation:
We recommend this share at the current level with the target price of Rs 400 in the next 12 months.
Welspun Gujarat Stahl Roh : Reco Price Rs. 247.35 CMP: Rs.247.35 (Gain 0.00%)
Welspun Gujarat Stahl Rohren is a part of high growth sector. The oil and energy sector is becoming very big in India and India is emerging as the pipe manufacturing hub due to its lower cost of production. Welspun is the largest player in this segment.
Welspun Gujarat Stahl Rohren Ltd
Welspun is a leading player in Steel Pipe and Tube manufacturing sector. It caters to the growing oil and energy industry, both domestically and overseas. It has shown spectacular growth and has also expanded and integrated its production capacities fast.
Financial Highlights:
For the first quarter of FY-2007-08 the company put up an impressive performance. While the revenues grew 50.5% to Rs 806.7 crores, the Net profit grew in a very robust fashion up 164% to Rs 69.3 crores. The operating margin went up a whopping 3.7% to 16.6% mainly due to the profitable global orders from Exxon Mobil and Kinder Morgan.
Reasons to buy:
- Part of high growth sector. The oil and energy sector is becoming very big in India and India is emerging as the pipe manufacturing hub due to its lower cost of production. Welspun is the largest player in this segment.
- Welspun can boast of an impressive client list which includes many overseas giants, apart from Indian majors.
- The company is completing a backward integration project with an installation of a plate mill. This will expand the margins and boost the bottom line for 2007-08.
- The company has commissioned a plant in the US to service that profitable market.
- The profit growth has not been fully discounted in the valuation on a forward PE basis. The company is attractively priced 16 times its 2007-08 earnings. This compares favourably with a profit growth of more than 100% which Welspun is witnessing.
Concerns:
- A slow down in oil and exploration and production may lead to reduction in order book.
- High Steel prices may make a dent on fixed price contracts which the company presently may have.
Recommendation:
We recommend this share at the current level with the target price of Rs 400 in the next 12 months.
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