Jul

2

Purchase Sterlite Technologies

Filed Under Free Share Tips, Market Analysis | Leave a Comment 


vacation Rentals

CMP: 175.50                             TARGET PRICE:230



Jun

30

Sell Tata Motors Ltd.

Filed Under Market Analysis | Leave a Comment 


vacation Rentals

Tata Motors’ (TML) consolidated results were signficantly below expectations,  primarily due to JLR. Against our expectation of net loss of USD 400 mn, the  company reported a loss of approximately 800 mn (before adjusting for capitalisation  of R&D expenses). Adjusting for capitalisation of R&D expenses, net loss stood at  USD 504 mn. Consolidated adjusted net loss stood at Rs 27 bn of Rs 53 per share  (19% of the book value). For FY10, while we have factored in positive EBIDTA in our
assumption, we expect company to report net loss of USD 62 mn (after capitalizing  90% of R&D spend). Also, we expect the business to remain FCF negative in the near  to medium term.
The good part is



Jun

26

SELL Sterlite Industries

Filed Under Market Analysis | Leave a Comment 

CMP:576.80 TARGET PRICE :540

  • Raise target price but downgrade on valuations.
  • We have rolled over our target  price to FY2011E and revised our target price to Rs540 (Rs490 earlier). Also, we have  downgraded our rating on the stock to REDUCE from ADD. Stronger Rupee  assumptions have led us to lower our estimates for FY2010 and FY2011 to Rs33.2 and  Rs41.8, respectively, from Rs41 and Rs50.5 earlier. We have raised our average copper  price assumptions to US$5,000/ton from US$3,600/ton.
  • Downgrade to REDUCE on valuations

Next Page →