Exide Industries, India’s largest auto battery manufacturer,a part of the Raheja group, posted a good set of results for the year ended 31/03/09. Consolidated net profit rose 16.50% to Rs.191.49 crore on 14.16% rise in total income to Rs.3,410.74 crore.
Automotive sales for the year crossed 14 million batteries while industrial battery sales crossed 1.3 billion amp hours. The advantage which the company had was that the price of its main raw material – lead, fell drastically within a very short period of time and the rupee also lost its strength almost in tandem. This helped the company post a better performance. The company on its part, undertook some cost cutting, and better inventory management.
FY09 is a landmark year for Exide as it started the delivery of Nano batteries to Tata Motors. The company is using its Shamnagar factory in West Bengal to produce the battery. During the year Company’s capital expenditure was Rs.160 crore. Its debt equity ratio as at 31/3/09 stood at 0.26 : 1.
Supply to OEMs took a beating due to the recession in the automobile sector but it is the replacement market, which helped the companyclock volumes. The company has slowly reduced its dependence on solely the auto sector and today, 35% of its business comes from industrial range of batteries like telecom, power, traction, inverter, UPS etc.
With the auto sector showing signs of revival, the Tata Nano taking off and lowering of its debt equity ratio, Exide seems poised for a good and long run in FY10.
Friday, May 8, 2009
Stock Idea: Exide Industries
Thursday, May 7, 2009
Intraday Trading Calls for 07th May
Stock Market India may open Positive but remains positive with very high volatility.
Today's Intraday Stock Tips / Trading Calls (Keep strict Stop Loss for Each Trade):
SCRIP NAME | TRIGGER | PRICE | TARGET 1 | TARGET 2 |
KALINDI RAIL NIRMAN | Buy Above | 108.25 | 113.10 | 118.00 |
Sell Below | 106.40 | 102.50 | 98.00 | |
MICRO TECHNOLOG | Buy Above | 95.60 | 100.25 | 106.00 |
Sell Below | 93.35 | 90.10 | 86.00 | |
TATA ELXSI | Buy Above | 118.65 | 123.40 | 128.00 |
Sell Below | 116.35 | 112.10 | 108.00 | |
REL POWER | Buy Above | 136.50 | 140.10 | 144.00 |
Sell Below | 134.40 | 130.45 | 127.00 | |
CAIRN INDIA | Buy Above | 202.75 | 208.10 | 214.00 |
Sell Below | 199.50 | 195.25 | 190.00 | |
HOEC | Buy Above | 88.25 | 91.35 | 95.00 |
Sell Below | 87.20 | 85.10 | 82.00 | |
IRB INFRA | Buy Above | 101.80 | 107.40 | 112.00 |
Sell Below | 99.40 | 95.55 | 91.00 |
Short to Med. Term Delivery Buy:
Buy PBA INFRA (532676) CMP Rs. 33/- Short Term Target Rs. 45/-.
GOOD LUCK
Corporate News
Tata Sons sells 1% in TCS to raise funds for the JLR deal. (ET)
ONGC has added a record 284mt of oil and gas reserves in FY09, the highest addition by the company in the past 18 years. (BS)
Workers at M&M's Nashik plant have gone on an indefinite 'tools down' strike, denting the company's revenue by Rs250mn a day. (BS)
ICICI Bank has scaled down its overseas operations, especially in the United States and Sri Lanka. (BS)
PNB decided not to lend below benchmark PLR. (ET)
ICAI raises apprehension about accuracy of audited financial statements of Allahabad Bank, Vijaya Bank and Central Bank. (ET)
SBI to provide Rs5bn loan to Kingfisher Airlines. (ET)
ITC grabs 11% on the national biscuit market. (ET)
Supreme Court upheld the PPA by Tata Power with BEST, setting aside an earlier petition filed by Reliance Infra. (ET)
Wockhardt to sell its animal healthcare business for up to Rs1.5bn. (ET)
RIL has started selling diesel from its Jamnagar refinery to PSU companies. (FE)
SAIL, Essar Steel and JSW Steel ask government to immediately impose safeguard duty on cheap imports of HR coils. (ET)
BHEL achieved ~20% of its FY09 turnover by commercialization of products and systems developed by the in-house research and development efforts. (BL)
Nalco plans to use sophisticated technologies, which do not require explosives, for the extraction of bauxite from Panchpatmali mines. (BS)
SBI entered into an agreement with telecom firm Tata Communications Ltd and C-Edge for the roll-out and management of 500 ATMs. (BS)
Suven Lifescience has received US FDA approval for its second API plant. (FE)
NHPC is taking up projects worth Rs450bn in Myanmar, Bhutan. (BL)
McNally Bharat signed a MoU with KHD Humboldt Wedag International GMBH to buy German co's engineering and mineral technology business. (BL)
Gujarat Gas looks at LNG option to enhance sales. (BL)
Patni Computer is evaluating acquisition in the area of BPO and Infrastructure management services. (ET)
Essar Steel will invest Rs10bn on steel processing unit in India, Middle East and North America. (ET)
Bombay High Court has reserved its order in the dispute between Jet Airways and Sahara Airlines over income tax liability. (ET)
Loop Telecom says it has not violated telecom norms and Essar Group holding in it is full compliant with licensing conditions. (ET)
Tata Housing to offer value homes under the 'Shubh Griha project. (ET)
Wednesday, May 6, 2009
Intraday Trading Calls for 06th May
Stock Market India may open flat to Negative but remains flat with very high volatility.
Today's Intraday Stock Tips / Trading Calls (Keep strict Stop Loss for Each Trade):
SCRIP NAME | TRIGGER | PRICE | TARGET 1 | TARGET 2 |
INDIABULLS REALEST | Buy Above | 140.75 | 145.10 | 150.00 |
Sell Below | 138.40 | 134.15 | 129.00 | |
SCI (523598) | Buy Above | 90.70 | 95.10 | 100.00 |
Sell Below | 88.60 | 85.35 | 81.00 | |
CORE PROJECTS | Buy Above | 104.25 | 109.40 | 115.00 |
Sell Below | 102.70 | 98.35 | 93.00 | |
REL POWER | Buy Above | 136.75 | 140.10 | 144.00 |
Sell Below | 134.40 | 130.45 | 127.00 | |
ICSA (531524) | Buy Above | 130.80 | 135.25 | 140.00 |
Sell Below | 128.60 | 124.35 | 120.00 | |
PRISM CEMENT | Buy Above | 28.60 | 30.55 | 33.00 |
Sell Below | 27.50 | 26.10 | 24.50 | |
HYD INDUSTRIES (509675) | Buy Above | 187.60 | 192.15 | 198.00 |
Sell Below | 184.50 | 180.25 | 176.00 |
Keep an Eye on Electrosteel Casting (500128) CMP Rs. 23/- for Intraday.
GOOD LUCK
Stock Idea: Bank of Baroda
For all the doomsday predictors, this financial performance of Bank of Baroda for the year ended 31st March 2009 would have come like a cruel joke. Despite the slowdown and the various predictions of rising NPAs, this bank has done very well for itself.
The Bank’s total Income grew 28.7% at Rs.17,849.24 crore in 2008-09. Of this, Interest Earned on Advances increased by 33.1% (y-o-y), non-interest income increased by 34.5%, its fee-based rose by 39.5%. The Bank’s recovery from Prudentially Written off Accounts stood at Rs.263.15 crore in 2008-09. Operating Profit was up 47% at Rs.4,305.00 crore.
Net Profit of the Bank in 2008-09 was Rs.2,227. 20 crore, up 55.2%. What is noteworthy is that net profit for Q4 was up by a whopping 172% at Rs.752.69 crore.
Provisions and Contingencies (including tax provisions) for the Bank have increased by 39.2% primarily due to higher provisions for depreciation on investments (both international & domestic equity books) and higher provisions against the NPAs.
Total deposits increased by 26.6% to Rs.1,92,397 crore on March 31, 2009 while total advances have increased by 34.9% to Rs.1,43,986 crore. Bank’s Capital Adequacy Ratio was at 14.05% (as per Basel II) at end-March 2009. Net Worth grew by 19.5% (y-o-y) and reached the level of Rs.11,387.19 crore. Gross NPAs of the Bank have come down to Rs.1,842.92 crore as on March 31, 2009, reflecting a reduction of 7%. Net NPAs too have declined from 0.47% at end-March 2008 to 0.31% at end-March 2009. Its Loan Loss Coverage stood at 75.52% on 31stMarch 2009. The Bank restructured a total number of 40,423 accounts during 2008-09 amounting to the total outstanding of Rs.2,659 crore. Of these, 38.3% belonged to wholesale, 31.5% to SME, 18.9% to retail and 11.3% to agriculture sector.
As on 31/03/09, the Bank had a domestic branch network of 2226 of which 73 were added during FY09. Total count of ATMs stands at 1179. In FY10, it proposes to add 168 new branches.
At the current rate and in the current time, BoB remains a good buy.
Source: www.premiuminvestments.in (By S P Tulsian)
Tuesday, May 5, 2009
Intraday Trading Calls for 05th May
Stock Market India may open flat to Positive and may see some profit booking at mid-session but it may close flat to positive for the day today.
Today's Intraday Stock Tips / Trading Calls (Keep strict Stop Loss for Each Trade):
SCRIP NAME | TRIGGER | PRICE | TARGET 1 | TARGET 2 |
HDIL | Buy Above | 158.60 | 162.55 | 167.00 |
Sell Below | 156.40 | 152.10 | 148.00 | |
ALEMBIC PHARMA | Buy Above | 42.20 | 45.30 | 48.00 |
Sell Below | 40.75 | 38.25 | 36.00 | |
HOEC | Buy Above | 85.75 | 88.40 | 91.00 |
Sell Below | 84.40 | 81.65 | 78.00 | |
REL POWER | Buy Above | 128.20 | 132.15 | 136.00 |
Sell Below | 125.70 | 122.35 | 118.00 | |
TATA ELXSI | Buy Above | 118.65 | 123.45 | 128.00 |
Sell Below | 116.15 | 112.25 | 107.00 | |
POLARIS (532254) | Buy Above | 72.70 | 76.25 | 80.00 |
Sell Below | 71.35 | 68.55 | 65.00 | |
GMR INFRA | Buy Above | 117.25 | 121.35 | 126.00 |
Sell Below | 115.05 | 112.10 | 108.00 |
GOOD LUCK
Monday, May 4, 2009
Intraday Trading Calls for 04th May
Stock Market India may open flat to Positive and may see high volatility at mid-session but it may close flat to positive for the day today.
Today's Intraday Stock Tips / Trading Calls (Keep strict Stop Loss for Each Trade):
SCRIP NAME | TRIGGER | PRICE | TARGET 1 | TARGET 2 |
GODREJ CONSUMER (532424) | Buy Above | 137.75 | 141.65 | 146.00 |
Sell Below | 135.40 | 132.10 | 128.00 | |
SKF (500472) | Buy Above | 180.25 | 185.10 | 190.00 |
Sell Below | 178.35 | 174.20 | 169.00 | |
CAIRN INDIA | Buy Above | 186.20 | 192.15 | 198.00 |
Sell Below | 184.35 | 180.20 | 176.00 | |
AREVA T&D | Buy Above | 220.60 | 227.10 | 234.00 |
Sell Below | 216.20 | 210.35 | 202.00 | |
TATA ELXSI | Buy Above | 110.25 | 115.30 | 121.00 |
Sell Below | 108.40 | 105.05 | 101.00 | |
ZYLOG (532883) | Buy Above | 161.50 | 166.20 | 172.00 |
Sell Below | 158.70 | 154.50 | 150.00 | |
TATA STEEL | Buy Above | 240.60 | 247.60 | 254.00 |
Sell Below | 235.40 | 230.10 | 224.00 |
Short to Medium Term Delivery Pick:
Buy TATA ELXSI (500408) CMP Rs. 109/- Target Rs. 135/-.
GOOD LUCK
