Building Up A Portfolio At A 7000 Level
- Thread starter supratik
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R Systems results are not impressing - wait to average it
Raj Rayon has only been impacted by the falling market, the fundamentals look strong.
Hi All,
fyi
M&M wins race for Punjab Tractors
BS Reporters / Mumbai/New Delhi March 9, 2007
M&M revised its bid of Rs 340 a share to Rs 360.
Mahindra & Mahindra (M&M), the country’s largest tractor company, has acquired the controlling stake in Punjab Tractors Ltd (PTL), the fourth largest tractor firm, outbidding Hinduja group firm Ashok Leyland.
The acquisition will increase M&M’s market share to 40 per cent from 30 per cent now. Chennai-based Tafe is the second largest player with a 23 per cent market share. The other major players include Escorts (13.5 per cent), Sonalika (11 per cent), Ford New Holland (4.5 per cent), John Deere (3.5 per cent) and HMT (1.8 per cent). M&M’s global rankings will stay at fourth, after John Deere, AGCO and Case New Holland.
M&M had revised its initial bid of Rs 340 a share to Rs 360, according to a statement from the company.
M&M has acquired the 43.5 per cent stake from private equity fund Actis and the New Delhi-based Burman family.
Post-acquisition, M&M will launch a 20 per cent mandatory open offer for retail shareholders of PTL.
The share prices of PTL went down marginally to Rs 304 in a rising Mumbai market today. Hence, the M&M offer appeared to be at a premium over the ruling market price. The M&M stock went up 1.04 per cent to Rs 765.85.
PTL is jointly promoted by the Punjab State Industrial Development Corporation (PSIDC) and the Central Mechanical Engineering Research Institite.
Recommend buying in mahindra and Mahindra CMP 740 - target 1150.
Thanks and Regards
Supratik
Raj Rayon has only been impacted by the falling market, the fundamentals look strong.
Hi All,
fyi
M&M wins race for Punjab Tractors
BS Reporters / Mumbai/New Delhi March 9, 2007
M&M revised its bid of Rs 340 a share to Rs 360.
Mahindra & Mahindra (M&M), the country’s largest tractor company, has acquired the controlling stake in Punjab Tractors Ltd (PTL), the fourth largest tractor firm, outbidding Hinduja group firm Ashok Leyland.
The acquisition will increase M&M’s market share to 40 per cent from 30 per cent now. Chennai-based Tafe is the second largest player with a 23 per cent market share. The other major players include Escorts (13.5 per cent), Sonalika (11 per cent), Ford New Holland (4.5 per cent), John Deere (3.5 per cent) and HMT (1.8 per cent). M&M’s global rankings will stay at fourth, after John Deere, AGCO and Case New Holland.
M&M had revised its initial bid of Rs 340 a share to Rs 360, according to a statement from the company.
M&M has acquired the 43.5 per cent stake from private equity fund Actis and the New Delhi-based Burman family.
Post-acquisition, M&M will launch a 20 per cent mandatory open offer for retail shareholders of PTL.
The share prices of PTL went down marginally to Rs 304 in a rising Mumbai market today. Hence, the M&M offer appeared to be at a premium over the ruling market price. The M&M stock went up 1.04 per cent to Rs 765.85.
PTL is jointly promoted by the Punjab State Industrial Development Corporation (PSIDC) and the Central Mechanical Engineering Research Institite.
Recommend buying in mahindra and Mahindra CMP 740 - target 1150.
Thanks and Regards
Supratik
Hi All,
fyi
Edelweiss recommends `BUY` on Suzlon Energy
Source: IRIS Exclusive (13 March 2007)
Edelweiss has recommended a `BUY` on Suzlon Energy (CMP-Rs 988).
Suzlon Energy published the offer document on friendly tender offer for Repower Systems on Mar 2, 2007 after the approval by German Federal Financial Supervisory Authority (BaFin).
Global wind energy delivered 32% annual growth in 2006 after growing healthily at 41% in 2005. USA, China and India are emerging as fast growing markets for wind energy. Europe, that still leads the global market (65% of total), is expected to grow by 15-20% annually.
Edelweiss believes that the market has still not factored in the strong potential integration benefits that can accrue for Suzlon in terms of access to the world`s largest market in installed capacity, superior R&D technology, established infrastructure and customer base and access to technology for offshore development.
To achieve the target of 1500 MW (55% Y-o-Y growth), the fourth quarter is expected to contribute 576 MW of sales. Given the seasonality of the business, the fourth quarter generally contributes 40-45% of total annual volumes. Its international order book stands at 1271 MW and domestic order book at 372 MW at the end of Q3FY07.
Suzlon is currently trading at a PE of 18.8x and 14.7x on our revised estimates (post Repower) for FY08E and FY09E, respectively. In the recent market correction, wherein broader index corrected by 11%, Suzlon’s stock was stable. This is due to the fact that its average one-year PE ratio since listing has been 26.7 and it has not traded below a PE of 20 since.
With the company`s strong growth profile (EPS CAGR of 36% over FY06-09E pre Repower) and the equally strong outlook for wind energy, Edelweiss believes that at its current price , the stock has a favourable risk reward ratio.
Thanks and Regards
Supratik
fyi
Edelweiss recommends `BUY` on Suzlon Energy
Source: IRIS Exclusive (13 March 2007)
Edelweiss has recommended a `BUY` on Suzlon Energy (CMP-Rs 988).
Suzlon Energy published the offer document on friendly tender offer for Repower Systems on Mar 2, 2007 after the approval by German Federal Financial Supervisory Authority (BaFin).
Global wind energy delivered 32% annual growth in 2006 after growing healthily at 41% in 2005. USA, China and India are emerging as fast growing markets for wind energy. Europe, that still leads the global market (65% of total), is expected to grow by 15-20% annually.
Edelweiss believes that the market has still not factored in the strong potential integration benefits that can accrue for Suzlon in terms of access to the world`s largest market in installed capacity, superior R&D technology, established infrastructure and customer base and access to technology for offshore development.
To achieve the target of 1500 MW (55% Y-o-Y growth), the fourth quarter is expected to contribute 576 MW of sales. Given the seasonality of the business, the fourth quarter generally contributes 40-45% of total annual volumes. Its international order book stands at 1271 MW and domestic order book at 372 MW at the end of Q3FY07.
Suzlon is currently trading at a PE of 18.8x and 14.7x on our revised estimates (post Repower) for FY08E and FY09E, respectively. In the recent market correction, wherein broader index corrected by 11%, Suzlon’s stock was stable. This is due to the fact that its average one-year PE ratio since listing has been 26.7 and it has not traded below a PE of 20 since.
With the company`s strong growth profile (EPS CAGR of 36% over FY06-09E pre Repower) and the equally strong outlook for wind energy, Edelweiss believes that at its current price , the stock has a favourable risk reward ratio.
Thanks and Regards
Supratik
Hi All,
Some bad news on Suzlon
Updated at 1700 hrs: The price for acquiring Germany’s third-largest wind power company, Repower Systems AG, has gone up with French Areva putting in a counterbid of 140 euros per share - 11.1% higher than the rival bid from Suzlon Energy-Martifer's offer of 126 euros per share.
On being contacted a Suzlon official refused to make any comment on the development saying that "it is too early to say anything."
Suzlon Energy is India’s largest producer of wind turbines and it had recently received the approval of German regulator for its bid for REpower Systems. Suzlon has offered 1.2 billion euros ($1.33 billion) to acquire Repower Systems.
The French company had earlier made an offer to buy the remaining stake in REpower at 105 euros per share. Its revised offer is 33.3% higher than the previous one.
It may be recalled that on March 2, during a teleconference on being asked if he would raise the bid in case Areva decided to raise its bid, Tulsi Tanti, chairman & managing director, Suzlon had said he was confident of winning the bid "at the bid price of 126 euros." (PTI)
Thanks and Regards
Supratik
Some bad news on Suzlon
Updated at 1700 hrs: The price for acquiring Germany’s third-largest wind power company, Repower Systems AG, has gone up with French Areva putting in a counterbid of 140 euros per share - 11.1% higher than the rival bid from Suzlon Energy-Martifer's offer of 126 euros per share.
On being contacted a Suzlon official refused to make any comment on the development saying that "it is too early to say anything."
Suzlon Energy is India’s largest producer of wind turbines and it had recently received the approval of German regulator for its bid for REpower Systems. Suzlon has offered 1.2 billion euros ($1.33 billion) to acquire Repower Systems.
The French company had earlier made an offer to buy the remaining stake in REpower at 105 euros per share. Its revised offer is 33.3% higher than the previous one.
It may be recalled that on March 2, during a teleconference on being asked if he would raise the bid in case Areva decided to raise its bid, Tulsi Tanti, chairman & managing director, Suzlon had said he was confident of winning the bid "at the bid price of 126 euros." (PTI)
Thanks and Regards
Supratik
I don't know if you can make profit in this market.
For a small investor (like me), all money is already locked in some stocks which I have bought in last 6 months to 1 year.
So, you don't know that the crash is coming and you are in the middle of bull rush.
All of a sudden market starts coming down. But, everyday you hope that tomorrow market will do good and keep invested.
So, now you are in a stage where, you cannot come out and you don't have money to invest. If you come out, you will get some money at hand....but, you will be in good loss!!
For example I am invested in Suzlon for a long time.
Now it has gone down by about 20% from my cost price. So, how can I come out!?
I think most of us are in the same boat and waiting for the good days ahead.
And I have lot of confidence in our economy and market.
Our companies have been doing good and also economy is looking good.
So, eventually market has to do good. But, it may take some time before it restarts the uptrend.
Till then, the only thing we can do is to sit and pray.
Regards,
Narendra
For a small investor (like me), all money is already locked in some stocks which I have bought in last 6 months to 1 year.
So, you don't know that the crash is coming and you are in the middle of bull rush.
All of a sudden market starts coming down. But, everyday you hope that tomorrow market will do good and keep invested.
So, now you are in a stage where, you cannot come out and you don't have money to invest. If you come out, you will get some money at hand....but, you will be in good loss!!
For example I am invested in Suzlon for a long time.
Now it has gone down by about 20% from my cost price. So, how can I come out!?
I think most of us are in the same boat and waiting for the good days ahead.
And I have lot of confidence in our economy and market.
Our companies have been doing good and also economy is looking good.
So, eventually market has to do good. But, it may take some time before it restarts the uptrend.
Till then, the only thing we can do is to sit and pray.
Regards,
Narendra
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