16 December 2012
Escorts - "BUY" recommendation.:: SPA
Escorts reported net sales of INR 8234 mn, up by 7.1% YoY & down by 18.8% QoQ. EBITDA margins expanded by 240 bps YoY
to 5.65%, on the back of lower operating expenses partly offset by higher employee cost. With monsoon playing a spoilsport,
offtake of tractors de-grew by 14.8% YoY. Railway equipment segment has seen a sharp improvement in margins, whereas
auto ancillaries segment and construction equipment segment continued to remain under pressure. We continue to
retain our "BUY" recommendation.
Strangle in Nifty options :: Business Line
Traders can initiate a long strangle strategy in Nifty options expiring on January 31.
This strategy can be initiated by buying Nifty 6,000 call and Nifty 5,800 put for the January series. On Friday, 6,000 call closed at Rs 86 and 5,800 put closed at Rs 51.
The total investment for the strategy comes at around Rs 137.
NIIT Technologies Outlook steady – Retain BUY :: Prabhudas Lilladher
We met Ms. Pratibha Advani (CFO – NIIT Technologies) to understand the prevailing
business environment and future course of action for the company. According to the
management, the business outlook remains relatively subdued as the deal velocity
has slowed down due to uncertainty in the Euro zone, fiscal cliff in US and impact of
the hurricane ‘Sandy’. Despite uncertainties, the management was confident of
revenue growth in Q3FY13 in constant currency. We retain our ‘BUY’ rating
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