The Indian equity market is at a two-year high. With the Sensex crossing the psychological 20,000 mark, investor interest is gaining, especially among retail investors. A lot of the rise can be attributed to the global cues which have been positive since the start of the year. The setting aside of the fiscal cliff worries [...]
Archive for the ‘Corporate News’ Category
Infosys declared its fourth quarter result yesterday. The results came in line with the street expectations. Sales were around 1% above the Bloomberg consensus estimate, whereas the net profit was almost same as per the street estimates. Despite the fact the numbers are in-line with the street expectations; the disappointment is on the rupee guidance front, [...]
The economy is recovering,BFSI is showing strongest bounce back,mega deals are struck with dollar strengthening This sector is estimated to aggregate revenues around USD 73.1bn in FY 2010 The export revenues are estimated at $50bn,while domestic revenues at $23bn by FY2010 Indian IT sector estimated to provide direct employment to 2.3 mn and indirect employment at [...]
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.
Reliance Industries Ltd. declared its second quarter results today. The results came in line with the Bloomberg consensus expectations. Reliance’s standalone net profit fell by around 6% YoY, to Rs. 3,852 cr. from Rs. 4,116 cr. This was mainly on account of a lower gross refinery margins (GRMs)
India’s largest manufacturer of motorcycles, Hero Honda Motors second quarter results were ahead of the market’s expectation mainly on account of better margins.