11 October 2010
Hem Sec: Buy Shri Lakshmi Cotsyn Ltd.
Expansion on Drive: SLCL plans to increase the capacity of
fusible interlining division to 25 mn mtrs. From 12.5 mn mtrs and
venturing into manufacturing of blackout fabrics, IRR fabric, flex
fabrics and carbon fabrics with a total estimated cost of Rs.482 Crores.
The company also planning to set up spinning unit with one lakh
spindles and 5000 rotars at the cost of 300 Crore approx. by installing
refurbishing plant. Furthermore SLC also expands its Denim Fabric
manufacturing capacity from 20 mmpa to 40 mmpa and Sheeting
manufacturing capacity from 12 mmpa to 30 mmpa with a total cost
of project of Rs. 510 Crore.
Leading Player in Industry: Shri Lakshmi has positioned itself
as an integrated multi product and multi market player covering
almost all the activities of textile value chain. Shri Lakshmi’s expertise
in technical textiles and defence products will help it in getting orders
from defence and paramilitary forces. SLCL is having largest product
line among all the textile manufacturers in India.
Decent Quarterly Performance: SLCL has posted decent
results for Q4FY10. The revenues of the company have gone up from
Rs.330.62 crore in Q4FY09 to Rs.423.87 crore in Q4FY10 showing an
increase of 28.20%. The operating profits also increased by 21.62%
from Rs 41.44 crore same quarter last year to Rs.50.40 crore in
Q4FY10. The net profit of the company increased from Rs. 19.27 crore
in Q4FY09 to Rs.23.08 crore in Q4FY10 showing a growth of 19.77%.
The EPS of the company rose from Rs.9.65 in the same quarter last
year to Rs.11.56 in Q4FY10, Rs.45.91.
Valuation
At the CMP of Rs 157.15, the stock is trading at a consolidated PE of
4.58x and 3.55x its FY11E and FY12E EPS of Rs 34.29 and Rs 44.20,
respectively. Since the stock offers good opportunity, we initiate a
‘BUY’ signal on the stock with a target price of INR 230.00 in medium
to long term investment horizon expecting an appreciation of about
46%.
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Hem Sec,
Shri Lakshmi Cotsyn
Nirmal Bang: AFTER MARKET REPORT Oct.11, 2010
Market Round Up
- The markets opened with an upside gap but gave off from the day's high and ended with modest gains.traded within a tight range throughout the day amid high volatility and ended marginally in red. All the major sectoral indices ended in green, Auto and Metal counters being the highest gainers. The Sensex closed at 20,339 up 89 points and the Nifty was at 6,135 up 32 points after making an intra-day high of 6,192. The Mid cap and Small cap indices were up by 0.77% and 1.32% respectively. The breadth of the market was positive and the total turnover recorded at Rs 94,016Cr. The Oct future ended with 20 points premium.
Movers & Shakers
- In FMCG space HUL was down by 0.47% & ITC was down by 0.37%.
- In Metal space Sterlite Inds. was up by 3.48%, Jswsteel was up by 2.91%, Sail was up by 2.13%, Sesagoa was up by 1.96%, Tatasteel was up by 1.91% & Hindalco was up by 0.16%.
- In Oil & Gas Space Reliance Inds. was up by 1.34%, Gail was up by 1.16% while IOC was down by 1.39%, BPCL was down by 0.48%, ONGC was down by 0.33% & HPCL was down by 0.24%.
- In Auto space Tatamotors was up by 4.46%, Maruti was up by 1.60% & M&M was up by 1.30%.
- Amongst the Senex gainers Tatamotors was up by 4.46%, Ashokleyl was up by 3.72% & PFC was up by 3.70%.
- Amongst the Sensex losers Indiabull finance was down by 4.10%, Bharti Airtl was down by 2.48% & IOC was down by 1.39%.
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11th Oct, 2010: Gray Market Premium Prices for India IPO:
Company Name | Offer Price | Premium |
(Rs.) | (Rs.) | |
Cantabil Retail | 135 (Upper Band) | DISCOUNT |
Tecpro Systems | 355 (Upper Band) | 40 to 45 |
VA Tech Wabag | 1310 (Upper Band) | 385 to 405 |
Ashok Buildcon | 324 (Upper Band) | 13 to 16 |
Sea TV Network | 100 (Upper Band) | 5 to 10 |
Bedmutha Ind | 95 to 102 | 8 to 9 |
Commercial Engg | 125 to 127 | DISCOUNT |
Oberoi Realty | 253 to 260 | 8 to 10 |
B S Trans | 247 to 257 | DISCOUNT |
Prestige Estates | 172 to183 | DISCOUNT |
Gyscoal Alloys | 65 to 71 | 14 to 15 |
Coal India | 250 to 270 (rumored) | 1 to 2 |
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gray market,
Grey market premium,
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Listing date of recent IPOs
CantabilRetail: October 12th (Tuesday) - Confirmed
Tecpro Systems: October 12th (Tuesday) - Confirmed
Sea TV Network: October 13th (Thursday) - tentative
AshokBuildcon: October 13th (Thursday) or October 14th (Wednesday) - tentative
VA TechWabag: October 14th (Thursday) - tentative
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Ashok Leyland,
cantabil retail,
Sea TV,
tecpro,
va tech wabag
BSE bulk deals: Oct 11th
Company | Deal Type | Quantity | Price ** | Client Name |
ACIL Cot Inds | B | 138000 | 28.81 | ABHIJIT RAMESH MOHOD |
Arrow Sec | B | 172400 | 60.76 | SUNIL BHANDARI |
Arrow Sec | S | 25300 | 60.76 | KAVITHA BHANDARI |
Arvind Intl | B | 177046 | 24.49 | JMP SECURITIES PVT LTD |
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BSE,
Bulk deals
NSE: Bulk deals Oct 11th
Security Name | Client Name | Buy / Sell | Quantity Traded | Trade Price / Wght. Avg. Price |
Core Projects and Technol | BNP PARIBAS ARBITAGE | BUY | 7,00,000 | 294.86 |
Career Pt Infosystem Ltd | CROSSEAS CAPITAL SERVICES PVT. LTD. | BUY | 2,06,693 | 581.42 |
Career Pt Infosystem Ltd | CROSSEAS CAPITAL SERVICES PVT. LTD. | SELL | 2,06,693 | 583.78 |
Crew B.O.S. Products Limi | PRIMUS REAL ESTATES PRIVATE LIMITED | BUY | 1,00,000 | 179.99 |
Crew B.O.S. Products Limi | SADHANA STOCKS & SECURITIES PVT LTD | BUY | 80,000 | 175.74 |
DCM Ltd | MAHESH CHAND RELA | BUY | 1,10,054 | 132.10 |
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Bulk deals,
NSE
FII DERIVATIVES STATISTICS FOR 11-Oct-2010
FII DERIVATIVES STATISTICS FOR 11-Oct-2010 | ||||||||
BUY | SELL | OPEN INTEREST AT THE END OF THE DAY | ||||||
No. of contracts | Amt in Crores | No. of contracts | Amt in Crores | No. of contracts | Amt in Crores | |||
INDEX FUTURES | 36048 | 1108.50 | 29116 | 896.33 | 517158 | 15932.91 | 212.17 | |
INDEX OPTIONS | 106904 | 3254.55 | 127086 | 3850.51 | 1974862 | 60587.92 | -595.96 | |
STOCK FUTURES | 28693 | 945.05 | 48427 | 1542.18 | 1420871 | 43749.54 | -597.13 | |
STOCK OPTIONS | 11480 | 397.56 | 13472 | 466.86 | 31869 | 1051.49 | -69.30 | |
TOTAL | -1050.21 | |||||||
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derivative statistics,
FII
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