Stanchart rates Ultratech as performer

Stock market analysis and stock picks from Stockinvest.in

Ultratech Cement has been trading at a P/E of 5.0 times and 5.8 times its FY09E and FY10E EPS at Rs 74.4 per share and 65.1 per share respectively. However, on an EV/Tonne basis Ultratech Cement has been trading at an EV/Tonne of $68.9, which is at a discount to its replacement cost. Considering the current macro economic factors which whereby the demand is expected to slowdown to 7-8 per cent compared to 9-10 per cent in the past 2 years coupled with commissioning of major green field capacities by the industry player over the next 6 - 9 months we expect cement prices to remain subdued.

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List of promoters buying their own stock

Stock market investors must take a look at those stocks where the promoters are increasing their stake by buying shares in the present stock market down turn. Here is a list of companies where promoters have increased their equity holding recently

Indian stock markets have been in a continuous slide since the beginning of 2008. This has left most retail and institutional investors in jitters. Stock market investors do not seem to have the nerve any longer to invest in stocks.

Stock valuations in certain sectors and companies have become really mouth watering. The promoters of Indian companies have used the recent downswing in stock prices as an opportunity to buy shares of their companies cheaply to enhance their holdings in the company. The stock prices of many companies are ruling at a value of less than one-fourth of their peak in January.

The shareholding pattern for the quarter ending September 2008 shows that in several companies, promoters have raised their stakes substantially. Even though it is hard to find big names, several promoters of mid and small-cap companies have hiked their stakes ranging from 1-20% during the September quarter compared with the previous quarter.

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BSE notices 21 October, 2008

Latest BSE notices and announcements from Stockinvest.in

Navin Fluorine International

Navin Fluorine International Ltd has informed BSE that the Board of Directors of the Company at its meeting held on October 21, 2008, inter alia, has proposes to pay an interim dividend of 50% (Rs 5 per share) on 1,00,99,889 equity shares of nominal value of Rs 10/- each, aggregating to Rs 505.00 lacs.

Source: BSE 21 October, 2008

Camlin

Camlin Ltd has informed BSE about the unaudited financial results for the Quarter ended Sep 30, 2008.

Source: BSE 21 October, 2008

Stewart and Mackertich Investment and Financial

SMIFS Capital Markets Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on October 31, 2008, apart form the consideration of unaudited results for the quarter ended September 30, 2008, the Board would inter alia consider the implementation of the proposed Stock Option Scheme prepared as per the SEBI (Employee Stock Option Scheme) Guidelines, 1999 and approved by the shareholders in the Annual General Meeting of the Company held on September 27, 2008.

Source: BSE 21 October, 2008

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NSE notices 21 October, 2008

Latest NSE announcements and notices from Stockinvest.in

Gateway Distriparks

Avendus Capital Private Limited has informed the Exchange regarding the details of the equity shares of Gateway Distriparks Limited bought back through the Stock Exchange on October 21, 2008, as follows: 1) Date of Buyback: October 21, 2008; 2) (a) Name of the Broker: Avendus Capital Private Limited; (b) No. of equity shares bought back on BSE: 12,200; (c) No. of equity shares bought back on NSE: 58,900; (d) Total no. of equity shares bought back: 71,100; (e) Average Price of Acquisition (Rs.): 78.1832; 3) (a) Name of the Broker: CLSA India Limited; (b) No. of equity shares bought back on BSE: Nil; (c) No. of equity shares bought back on NSE: Nil; (d) Total no. of equity shares bought back: Nil; (e) Average Price of Acquisition (Rs.): NA; 4) Cumulative Equity Shares bought as on October 20, 2008: 3,861,231; 5) Quantity Closed Out on October 21, 2008 - Nil; 6) Quantity Closed Out as on October 20, 2008 - 31; 7) Total Quantity Closed Out - 31; 8) Total Equity Shares bought back as on October 21, 2008: 3,932,300.

Source: NSE 21 October, 2008

OCL Iron and Steel

OCL Iron And Steel Limited has submitted to the Exchange a copy of the Minutes of the Annual General Meeting of the members of the Company held on September 09, 2008. The copy of the same shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).

Source: NSE 21 October, 2008

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Hot Stock Picks from Stockinvest.in

Hot Stock Picks from Stockinvest.in

Stock: HDFC Bank

Price Target: Rs 1087

Brokerage: Motilal Oswal Securities

Motilal Oswal Securities has recommend 'buy' on HDFC Bank stock for a target price at Rs 1,087. Motilal expects earnings CAGR of 32 per cent over FY08-10 on 23 per cent CAGR in assets (combining HDFC Bank with CBoP from FY08 itself). The stock trades at 3.1 times FY09E and 2.3 times FY10E BV, and 20.7 times FY09E and 16.5 times FY10E EPS.

Motilal expects RoA to remain high at 1.3-1.4 per cent, with RoE at over 16 per cent in FY10 and 18 per cent in FY11. Motilal estimates BV at Rs 347 per share for FY09 and at Rs 465 per share for FY10. The brokerage expects EPS to be Rs 53 in FY09 and Rs 66 in FY10.

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