Stock Idea: Unichem Lab

Karvy Stock Broking has maintained its buy rating on Unichem Laboratories with a traget price of Rs 225 in its May 16, 2008 research report. "The company's net revenues for the quarter were up by 3.2 % to Rs 1383 million. The growth has been driven by a 11 % growth in domestic formulations business revenues which has been offset by degrowth in exports. Operating margins were lower by 500 bps to 14.2 % mainly on account of lower gross margins and higher excise. Profits for the quarter were higher by 13 % to Rs 153 million."
"We upgrade our FY 2009E EPS nos by 7.3% to Rs 22.1 and maintain our FY 2010E nos at Rs 31.3. We upgrade our price target by 10 % to Rs 225 based on 10.2x FY 2009E. The Company is quoting at attractive valuation of 6.6X FY09E. We maintain our BUY rating on Unichem," says Karvy's research report.

Market This Week

Market This Week
Sensex up 4%; Nifty up 3.5%
CNX Midcap Index up 2.5%; BSE Small Cap Index up 1.2%
BSE Metal Index up 9.5%, BSE IT, Bank Index up 5% each
BSE Cap Goods Index up 4.2%, BSE Healthcare Index up 4%
Nifty Gainers: Hindalco up 19%, Suzlon up 13%, SAIL, RComm up 12%, PNB up 13%
Nifty Gainers: Ranbaxy up 8.3%, Nalco up 19%, Tata Steel up 5.6%, TCS up 6.7%
Nifty Losers: ONGC down 8%, BPCL down 4.2%, ACC down 4.8%, Bajaj Holdings down 4.6%
Midcap Gainers: Chambal Fert up 21.7%, JSW Steel up 25%, Mercator Lines up 16%
Midcap Gainers: Lanco Infra up 15%, NIIT Tech up 10%, Orchid Chem up 10%, BILT up 8.5%
Source: moneycontrol.com

Markets Today

Markets Snapshot
Markets end in the green amid volatile trade
Sensex ends up 81.4 pts at 17435; Nifty up 42.5 pts at 5158
CNX Midcap Index up 0.8%, BSE Small-cap Index up 0.86%
BSE Metal Index up 2%; SAIL up 7.5% post results
BSE Bank Index up 1.8%; PNB up 6.5% on back of good numbers declared yesterday
Index gainers; BPCL up 5.8%, Suzlon up 5.2%, Cairn India up 4.6%, Tata Power up 3.6%, Ranbaxy up 3.25%
BSE IT Index down 0.5%; HCL Tech down 2.3%, Infosys down 1.1%
Result Impact: SAIL, Bongaingaon Refinery
Buzzers: Assam Co up 10%, Harrisons Malayam up 11.6%, Tamilnadu Petro up 20%, Hyderabd Ind up 20%
Buzzers; Chambal Fert up 8.5%, Guj NRE Coke up 6%, BOI up 5.7%, Dish TV up 5.5%, Nag Fert up 5.5%
Losers; Welspun India down 5.3%, Megasoft down 6.2%, BF Utilitiues down 5%
NSE Advance Decline at 2:1
Total market turnover at Rs 57402 cr Vs Rs 58476 cr on Thursday
Total NSE F&O turnover at Rs 37877 cr Vs Rs 38196 cr on Thursday
F&O Snapshot
Nifty futures discount at 12 pts; add 7.3 lakh shares in OI
Traders buying 5100 call option and hedging it by shorting Nifty 4900, 5000 witness put wriitng and 5100 witness call writing
Long positons witness in momentum stcoks like Chambal Fert, Nag Fert, Ispat and stcoks like SAIL, Suzlon
Sugar stcoks witnmess unwinding of long positons and fresh shorts
Long Positions
Brigade Ent up 14.5%; add 1.68 lakh shares in OI
Chambal Fert up 9.5%; add 44.2 lakh shares in OI
Nag Fert up 5.2%; add 32 lakh shares in OI
Ispat up 2.3%; add 22.7 lakh shares in OI
HCC up 3%; add 10.5 lakh shares in OI
SAIL up 7.8%; add 7.2 lakh shares in OI
Suzlon up 4.6%; add 6 lakh shares in OI
HDIL up 4.35; add 4.3 lakh shares in OI
Short Covering
India Cement up 2%; shed 5.3 lakh shares in OI
Petronet LNG up 4.7%; shed 3.5 lakh shares in OI
Aptech up 2%; shed 2.6 lakh shares in OI
BOI up 5.25%; shed 1.6 lakh shares in OI
Sugar Stocks
Bajaj Hind down 2.4%; shed 1.6 lakh shares in OI
Triveni Eng down 2%; shed 2.8 lakh shares in OI
Shree Renuka down 1.5%; add 12.5 lakh shares in OI

Source: moneycontrol.com