Prabhudas Lilladher has maintained its buy rating on PVR with a target price Rs 318 in its June 3, 2008 research report. "PVR’s Q4FY08 results exceeded our expectations. Revenue for the quarter grew by 32.9% YoY to Rs 543 million. PVR reported impressive full year numbers. Its consolidated revenue for the year grew by 49.7% to Rs 2659 million. Operating profit margins expanded by 298 bps. Consequently, PAT grew by a whopping 112.2% to Rs 216 million."
"PVR is emerging as a strong entertainment conglomerate with complete integration across the entire film value chain and entry into exhibition related retail entertainment businesses. We expect PVR’s existing business to report revenue and profit to grow at 48% and 70% CAGR respectively over FY07-10. At the current market price of Rs 174, PVR is trading at 12.7x FY09 and 8.4x FY10 earnings. We expect the company’s valuations to be re-rated as it aggressively scales-up its new ventures. We maintain BUY rating on the stock," says Lilladher's research report.
Thursday, June 5, 2008
Stock Idea: PVR
Markets Today
The markets have rebounded sharply in late trade and ended with strong recovery of half of Wednesdays losses led by buying in technology, telecom, power, FMCG, banking, metal, pharma and some oil and gas stocks. It was remained choppy till 2 pm and after that shown smart bounce back. Positive European markets also played some role. The Nifty closed above 4650 mark after struggling around 4550-4600 and recovered more than 140 points from days low. The Sensex closed above 15700 and recovered over 450 points from days low.
The Sensex closed at 15,769.72, up 1.64% or 254.93 points after hitting an intraday high of 15,814.80 and low of 15,314.02. The Nifty touched a high/low of 4690.60 and 4536.25, before finishing the day at 4676.95, up 1.99% or 91.35 points. BSE Midcap and Small cap indices ended marginally higher.
Biggest gainers were ONGC (7.46%), Wipro (6.25%), Infosys (5.86%), Reliance Infra (5.68%), Suzlon Energy (9.18%), Tata Power (8.06%) and GAIL (7.19%). However, DLF (-3%), Reliance (-2.58%), Ambuja Cements (-1.89%), Tata Motors (-1.82%), BPCL (-6.35%) and PNB (-2.68%) were draggers.
Market breadth also improved but closed in negative, about 1359 shares have advanced, 1571 shares declined, and 183 shares remained unchanged.
Technology Index outperformed other indices, jumped 5.01% or 220.09 points to settle at 4,617.44 as huge buying seen in Tech Mahindra, Wipro, Infosys, HCL Tech, Satyam, Patni Computer, TCS and Mphasis. The Indian Rupee was trading at 42.90 per dollar.
Amongst telecom space, Tata Communication, Tata Teleservices, Spice Comm, Bharti Airtel, MTNL, Reliance Comm and Idea Cellular have gained.
Power stocks looked fully charged up, index shot up by 2.89% to close at 2,708.49 due to sharp advances in Suzlon Energy, Tata Power, Reliance Infra and NTPC.
In the oil and gas space, ONGC, GAIL, Essar Oil, RNRL, Cairn India and Petronet LNG were gainers while BPCL, IOC, HPCL and Reliance losers. Index ended flat.
FMCG Index finished at 2,426.16, up 2.48% on the back of smart jump in Tata Tea, HUL, United Spirits, ITC, Britannia and Nestle.
Banking stocks like Yes Bank, Axis Bank, ICICI Bank, HDFC Bank, SBI and Kotak Mahindra have gained a lot. Bankex surged 1.92% or 138.21 points at 7,348.58.
There were sweet pills from healthcare sector, index was up 1.9% at 4,345.89 due to buying in Sun Pharma, Divis Labs, Dr Reddys Labs, Sun Pharma Adv, Aurobindo Pharma, Cipla and Ranbaxy Labs.
Metal stocks like Jindal Steel, NALCO, Tata Steel, SAIL, JSW Steel and Hindalco have shined. Index moved up by 1.89% or 291.44 points at 15,714.59.
However, realty stocks have shown remarkable recovery from days low though ended in red. Index plunged 0.99% to close at 6,326.05 and recovered nearly 300 points. Selling seen in Phoenix Mills, Anant Raj Ind, Ansal Properties, DLF and Indiabulls Real while buying in Mahindra Life, Puravankara Proj, HDIL, Peninsula Land and Unitech.
Auto and Capital Goods indices finished with marginal loss.
Most active counters were Reliance Industries, ONGC, Tata Steel, L&T and Bharti Airtel.
Turnover traded by markets for the day stood at Rs 73159.72 crore , including Rs 15987.26 crore from NSE Cash segment, Rs 51017.90 crore from NSE F&O and Rs 6154.56 crore from BSE Cash segment.
The Sensex closed at 15,769.72, up 1.64% or 254.93 points after hitting an intraday high of 15,814.80 and low of 15,314.02. The Nifty touched a high/low of 4690.60 and 4536.25, before finishing the day at 4676.95, up 1.99% or 91.35 points. BSE Midcap and Small cap indices ended marginally higher.
Biggest gainers were ONGC (7.46%), Wipro (6.25%), Infosys (5.86%), Reliance Infra (5.68%), Suzlon Energy (9.18%), Tata Power (8.06%) and GAIL (7.19%). However, DLF (-3%), Reliance (-2.58%), Ambuja Cements (-1.89%), Tata Motors (-1.82%), BPCL (-6.35%) and PNB (-2.68%) were draggers.
Market breadth also improved but closed in negative, about 1359 shares have advanced, 1571 shares declined, and 183 shares remained unchanged.
Technology Index outperformed other indices, jumped 5.01% or 220.09 points to settle at 4,617.44 as huge buying seen in Tech Mahindra, Wipro, Infosys, HCL Tech, Satyam, Patni Computer, TCS and Mphasis. The Indian Rupee was trading at 42.90 per dollar.
Amongst telecom space, Tata Communication, Tata Teleservices, Spice Comm, Bharti Airtel, MTNL, Reliance Comm and Idea Cellular have gained.
Power stocks looked fully charged up, index shot up by 2.89% to close at 2,708.49 due to sharp advances in Suzlon Energy, Tata Power, Reliance Infra and NTPC.
In the oil and gas space, ONGC, GAIL, Essar Oil, RNRL, Cairn India and Petronet LNG were gainers while BPCL, IOC, HPCL and Reliance losers. Index ended flat.
FMCG Index finished at 2,426.16, up 2.48% on the back of smart jump in Tata Tea, HUL, United Spirits, ITC, Britannia and Nestle.
Banking stocks like Yes Bank, Axis Bank, ICICI Bank, HDFC Bank, SBI and Kotak Mahindra have gained a lot. Bankex surged 1.92% or 138.21 points at 7,348.58.
There were sweet pills from healthcare sector, index was up 1.9% at 4,345.89 due to buying in Sun Pharma, Divis Labs, Dr Reddys Labs, Sun Pharma Adv, Aurobindo Pharma, Cipla and Ranbaxy Labs.
Metal stocks like Jindal Steel, NALCO, Tata Steel, SAIL, JSW Steel and Hindalco have shined. Index moved up by 1.89% or 291.44 points at 15,714.59.
However, realty stocks have shown remarkable recovery from days low though ended in red. Index plunged 0.99% to close at 6,326.05 and recovered nearly 300 points. Selling seen in Phoenix Mills, Anant Raj Ind, Ansal Properties, DLF and Indiabulls Real while buying in Mahindra Life, Puravankara Proj, HDIL, Peninsula Land and Unitech.
Auto and Capital Goods indices finished with marginal loss.
Most active counters were Reliance Industries, ONGC, Tata Steel, L&T and Bharti Airtel.
Turnover traded by markets for the day stood at Rs 73159.72 crore , including Rs 15987.26 crore from NSE Cash segment, Rs 51017.90 crore from NSE F&O and Rs 6154.56 crore from BSE Cash segment.
Source: moneycontrol.com
Stock Idea: TNPL
Emkay Research has maintained its buy rating on Tamil Nadu Newsprint and Papers with a price target of Rs 151 in its May 31, 2008 research report. "Tamilnadu Newsprint (TNPL) reported its Q4FY08 results which were in line with our expectations. Company reported net revenues of Rs 2.5 billion which increased by 10.9% YoY / 6.4% QoQ. EBITDA margins declined by 180 bps to 21.4 due to rise in ower and fuel cost, which increased by 160 bps to 23% as a percentage of sales. Adjusted PAT increased by 11.3% YoY / 14.5% QoQ to Rs 275 million. EPS for the quarter was Rs 4.0 as against 3.6 in Q4FY07. For FY08 net revenues were up by 9.8% YoY to Rs 9.4 billion. Adjusted PAT increased by 21.8 % YoY to Rs 1.09 billion resulting in an EPS of Rs 15.6."
"Company has completed its capex plan to increase pulp capacity by Mar’08 and is expected to benefit from next quarter. Realisations for paper are also expected to increase due to excise duty benefit and increase in paper prices. We maintain our positive outlook on the company on account of favourable industry dynamics and maintain our BUY recommendation on the stock with a price target of Rs 151, an upside of 51%," says Emkay's research report.
"Company has completed its capex plan to increase pulp capacity by Mar’08 and is expected to benefit from next quarter. Realisations for paper are also expected to increase due to excise duty benefit and increase in paper prices. We maintain our positive outlook on the company on account of favourable industry dynamics and maintain our BUY recommendation on the stock with a price target of Rs 151, an upside of 51%," says Emkay's research report.
Intraday Trading Calls for 5th June
Market may bounce back today as looking highly oversold.
Today's Intraday Stock Tips/Trading Calls:
ROLTA INDIA
RPL
RPOWER
LANCO INFRA
UNITECH
NEYVELI LIGNITE
For Levels and Targets CLICK HERE.
Others: Yes Bank, Union Bank, Chambal Fertilizer.
Good Luck
Today's Intraday Stock Tips/Trading Calls:
ROLTA INDIA
RPL
RPOWER
LANCO INFRA
UNITECH
NEYVELI LIGNITE
For Levels and Targets CLICK HERE.
Others: Yes Bank, Union Bank, Chambal Fertilizer.
Good Luck
Subscribe to:
Posts (Atom)