Inflation: Managing the necessary evil
Nov 27th
Almost halfway into the 3rd quarter and well into the busy season, the economy is well set to make a comeback with projected growth of 6% upwards. With markets again close to the pre-crisis levels and major sectors looking up, it is only a question of time when we are able to leave the recession [...]
USD/INR Downside Prevails
Nov 16th
The week saw consolidation across the board with all equity markets rebounding from the selling momentum of last week. The Sensex rebounded around 700 points. Similarly all major indices have risen defying the fact that unemployment still is a concern for the US. The Euro broke the 1.5000 mark during the week and currently trades [...]
INFLATION: Change, but not yet wholesale
Nov 10th
The Cabinet Committee on Economic Affairs has given its approval on the much needed & awaited revamp of the WPI
WPI taken to be a major indicator of Inflation in India will now be calculated on a monthly rather than a weekly basis
This change in the periodicity was based on the recommendation of a working group [...]
USD-INR Choppy and Uncertain
Nov 7th
Markets continue to be volatile on the back of mixed trade signals both from the external and domestic economy. While the longer term outlook of India’s growth story and an appreciating Indian rupee remain intact, markets are probably taking a breather before resuming the ongoing trend.
Over the past month the USD/INR experienced excessive volatilities first [...]
Indian Steel Sector – Results Update
Nov 6th
• The recent recovery in industrial growth and in the real estate sector augurs well for Indian steel makers and the resultant rise in demand is already evident. India and China are two markets where steel units are operating at quite high levels of capacity utilization; 86% for China and 80% for India, compared with [...]
Indian Telecom Sector – Results and Overview
Nov 4th
Increasing competition and muted growth has made telecommunication a matured play and with the rural market being a low margin segment the rural growth story will not command higher valuations and with new services like 3G and Wimax being delayed due to regulatory hurdles the present outlook for the industry doesn’t looks favorable and with Mobile Number Portability (MNP) due to come there would be a churn in subscriber base making it all the more difficult for the existing players
Hawkins Cooker: Quarter Two Results
Nov 3rd
At the current market price of Rs 522 the stock is currently trading at a trailing twelve month P/E of around 12, despite its earnings growing at an average of around 60%, over the last four quarters and good dividend payment track record and a dividend yield of over 4%
Hence, we maintain our BUY call on the stock with a year DDM based price target of Rs 625.
