Why Punj Lloyd buzzing

Today Punj Lloyd made huge advancement . The reason  is that Punj Lloyd's wholly owned subsidiary, Sembawang Engineers and Constructors, has won a major contract worth 463 million Singapore dollars for architectural, civil and structural work at the proposed Bayfront MRT station in Marina Bay in Singapore.


Today investcare blog is re launched in the new domain http://www.investchips.com/ . Though all the old posts were retained, you will see the difference in the new postings. Expect more. Even if you type investcare.blogspot.com it would still land you @ http://www.investchips.com/ . Thanks for your patronage.

Greaves Cotton Ltd (GCL): BUY

Greaves Cotton Ltd (GCL)

CMP Rs335, BUY

Target price Rs435, Upside 29.9%


ä       Infrastructure equipment business to drive growth


ä       New initiatives to boost power engine revenues


ä       Acquisition and new product launch to tackle Piaggio insourcing


Trading at 9.5x FY09E earnings - Value BUY

GCL is currently trading at 9.5x FY09E earnings of Rs35.7 and 5.8x FY09E EV/EBITDA. These valuations are attractive, given the company's earnings CAGR of 19% over FY07-09E, strong ROCE (more than 40%) and discount to its peer group. Furthermore, strong internal accruals over the past two years have substantially increased GCL's tangible networth. These, combined with debt reduction initiatives, have significantly reduced gearing over the last two years. We recommend Buy with a target price of Rs435, representing potential upside of 30% from the current levels.


Click below for the detailed report on Greaves Cotton Ltd (GCL).




Warm Regards,


India Infoline Research Team

Fwd: Graphite India Ltd: "In favourable times"

---------- Forwarded message ----------
From: info@5pmail.com
Date: Tue, 27 Nov 2007 13:20:51 +0530
Subject: Graphite India Ltd: "In favourable times"
To: undisclosed-recipients

Graphite India Ltd: "In favourable times"


Target price Rs114, Upside 42.1%

ä EAF steel production is witnessing healthy growth

ä Graphite electrode is an indispensable consumable in the EAF

ä Graphite electrode manufacturers are operating in a
strong pricing environment

ä GIL has been benefiting from improving business fundamentals

ä Valuations are attractive and deserve a re-rating; recommend Buy
Click below for a detailed report on Graphite India Ltd (GIL).


Warm Regards,

India Infoline Research Team

Jyothy Laboratories Ltd: Subscribe

Jyothy Laboratories Ltd
Price Band (Rs) 620-690, Subscribe

  • Jyothy Laboratories Ltd (JLL) is an FMCG company making a range of branded products, including fabric whiteners, mosquito repellents, dish-washing soap, soaps and incense. Its key brands are Ujala, Maxo, Exo, Jeeva and May a.

  •  Ujala is a well-known brand of fabric whitener, with dominant market share of approximately 72% in the category

  •   Local presence and wide distribution reach

  •  Targets the rural market   

  •   Entering into new joint-venture initiatives


Click below for a detailed note on the same.




Warm Regards,


India Infoline Research Team


MRTPC probe banks on home loans

Finally Indian Authorities waking up .The Monopolies and Restrictive Trade Practices Commission (MRTPC) has ordered a probe into the procedure banks and Institutions use when giving , home loans reports CNBC-TV18.

MRTPC probe into the procedure banks use when giving home loans. The investigation will focus on new home loans  customers being offered lower rates while existing customers pay a higher rate of interest. It's something the MRTPC thinks is wrong. The commission also believes banks do not give customers the full benefit of a floating rate. When costs rise, banks hike interest rates, but a fall in costs is not passed on fully to the existing clients.

That's not all. The commission has also raised questions on how banks arrive at the rate of interest that customers are charged. It says, instead of the benchmark prime lending rate, banks should use an external benchmark to fix home loan rates. The investigative wing of the commission has been asked to submit its report on these issues within 60 days.

Thanks to Moneycontrol.com

Shiv-Vani Oil & Gas Exp Services Ltd: BUY

Shiv-Vani Oil & Gas Exp Services Ltd

CMP Rs424, BUY

Target price Rs648, Upside 52.8%


Shiv-Vani faces huge growth opportunity due to following

ä       Huge order inflow on the back of a surge in E&P capex

ä       Commitments made in first six NELP rounds yet to be comple ted, NELP VII due in December 2007

ä       CBM turnkey projects is a new source of revenue


Valuations are attractive; recommend a BUY with a target price Rs648

At CMP of Rs424, the stock trades at P/E multiple of 9.2x and 7.2x on estimated earnings of Rs46.3 and Rs58.5 for FY09 and FY10 respectively. Given the expected robust build-up in SVL's order book and a rise in operating margins to 39%, we recommend a BUY with a target price of Rs648, implying an upside of 52.8%.


Click below for a detailed Report on Shiv-V ani Oil & Gas Exp Services Ltd




Warm Regards,


India Infoline Research Team 


My Father - Mail received from a friend


أنا وأبي

Me and My Father


وأنا عمري 4 أعوام : أبي هو الأفضل

When I was 4 Yrs Old : My father is THE BEST


وأنا عمري 6 أعوام : أبي  يعرف كل الناس

When I was 6 Yrs Old : My father seems to know everyone


وأنا عمري 10 أعوام : أبي ممتاز ولكن خلقه ضيق

When I was 10 Yrs Old : My father is excellent but he is short tempered


وأنا عمري 12عاما : أبي كان لطيفا عندما كنت صغيرا

When I was 12 Yrs Old : My father was nice when I was little


وأنا عمري 14 عاما : أبي بدأ يكون حساسا جدا

When I was 14 Yrs Old : My father started being too sensitive


وأنا عمري 16 عاما : أبي لا يمكن أن يتماشى مع العصر الحالي

When I was 16 Yrs Old : My father can't keep up with modern time


وأنا عمري 18 عاما : أبي ومع مرور كل يوم يبدو كأنه أكثر حدة

When I was 18 Yrs Old : My father is getting less tolerant as the days pass by


وأنا عمري 20 عاما : من الصعب جدا أن أسامح أبي ، أستغرب كيف استطاعت أمي أن تتحمله

When I was 20 Yrs Old : It is too hard to forgive my father, how could my Mum stand him all these years


وأنا عمري 25 عاما : أبي يعترض على كل موضوع

When I was 25 Yrs Old : My father seems to be objecting to everything I do


وأنا عمري 30 عاما : من الصعب جدا أن أتفق مع أبى ، هل ياترى تعب جدى من أبي عندما كان شابا

When I was 30 Yrs Old: It's very difficult to be in agreement with my father, I wonder if my Grandfather was troubled by my father when he was a youth


وأنا عمري 40 عاما: أبي رباني في هذه الحياة مع كثير من الضوابط، ولابد أن أفعل نفس الشيء

When I was 40 Yrs Old: My father brought me up with a lot of discipline, I must do the same


وأنا عمري 45 عاما : أنا محتار ، كيف أستطاع أبي أن يربينا جميعا

When I was 45 Yrs Old: I am puzzled, how did my father manage to raise all of us


وأنا عمري 50 عاما: من الصعب التحكم في أطفالي، كم تكبد أبي من عناء لأجل أن يربينا ويحافظ علينا

When I was 50 Yrs Old : It's rather difficult to control my kids, how much did my father suffer for the sake of upbringing and protecting us


وأنا عمري 55 عاما: أبي كان ذا نظرة بعيدة وخطط لعدة أشياء لنا ، أبي كان مميزا ولطيفا.

When I was 55 Yrs Old: My father was far looking and had wide plans for us, he was gentle and outstanding.


وأنا عمري 60 عاما: أبي هو الأفضل

When I became 60 Yrs Old: My father is THE BEST


جميع ما سبق احتاج إلى 56 عاما لإنهاء الدورة كاملة ليعود إلى نقطة البدء الأولى عند الـ 4 أعوام .

Note that it took 56 Yrs to complete the cycle and return to the starting point "My father is THE BEST" !


فلنحسن إلى والدينا قبل أن يفوت الأوان ولندع الله أن يعاملنا أطفالنا أفضل مما كنا نعامل والدينا.

Let's be good to our parents before it's too late and pray to Allah that our own children will treat us even better than the way we treated our parents .


قال تعالى:

" وَقَضَى رَبُّكَ أَلاَّ تَعْبُدُواْ إِلاَّ إِيَّاهُ وَبِالْوَالِدَيْنِ إِحْسَانًا إِمَّا يَبْلُغَنَّ عِندَكَ الْكِبَرَ أَحَدُهُمَا أَوْ كِلاَهُمَا فَلاَ تَقُل لَّهُمَآ أُفٍّ وَلاَ تَنْهَرْهُمَا وَقُل لَّهُمَا قَوْلاً كَرِيمًا "

" وَاخْفِضْ لَهُمَا جَنَاحَ الذُّلِّ مِنَ الرَّحْمَةِ وَقُل رَّبِّ ارْحَمْهُمَا كَمَا رَبَّيَانِي صَغِيرًا "  ......  


The pains of pre-payment

Nice article appeared in the Hindu about the housing loan pre-payment. Do visit the following link to read

Kolte Patil Developers Ltd: Subscribe

Kolte Patil Developers Ltd

Price Band (Rs) 125-145, Subscribe       


Kolte Patil Developers Ltd (KPDL) is an ISO 9001–2000 certified real estate developer. It develops and constructs properties mainly in Pune and Bangalore. Since its incorporation in 1991, it has completed 25 projects, including 22 in Pune and three in Bangalore, covering 4.01mn sqft of saleable area.


ä       Land portfolio of 32.88mn sqft with mix of residential and commercial

ä       Well known developer in Pune and Bangalore regio n

ä       JV with private equity (real estate) fund to finance vital projects

ä       Building presence in promising locations across India


Click below for a detailed note on the same.




Warm Regards,


India Infoline Research Team

ICSA (India) Ltd: BUY

ICSA (India) Ltd

CMP Rs312, BUY

Target price Rs451, Upside 44.7%


ICSA, a proxy on the Indian power growth story, is expected to witness revenues and profits CAGR of 75.6% and 81.5% over FY07-09 respecti vely. This growth will be a fallout of the huge opportunity arising out of the APDRP scheme and infrastructure spend expected over the next couple of years. At the current price, the stock trades at 12.5x and 8.3x its FY08E and FY09E EPS of Rs25 and Rs37.6 respectively. We recommend BUY with a one-year price target of Rs451, an upside of 44.7%.



Click below for the Company Report on ICSA (India) L td



Warm Regards,


India Infoline Research Team

Clubbing of Settlements



This is to inform you that Banks are closed on November 09, 2007 on account of Diwali.


Kindly note that shares bought by the client on November 08, 2007 should not be sold on November 09, 2007 as trades done on both these days will be settled together on November 13, 2007 since November 09, 2007 is a bank holiday.


Also, please note that the pay-in schedule for stocks sold on November 08, 2007 and November 09, 2007 has changed to 09.30 a.m. and 1.30 p.m. respectively.


Warm Regards,


Fwd: Commodity Report - Steel: Room for upside


Steel prices: Room for upside

CMP Rs22,160, BUY

Target price  Rs24,200, Upside 9.3%


ä       Global steel demand expected to grow by 6.8% , led by intense infrastructure activity in the BRIC nations.

ä       Chinese government curbs on export of primary metals to reduce over supply situation in the global market.

ä       Raw material costs, which are generally pass through, are expected to swell resulting into higher metal prices.

ä       We recommend BUY with a price target of Rs24,200 on the NCDEX, an upside of 9.3%.


Steel prices: room for upside

Strong demand momentum driven by the infrastructure sector is expected to continue in the near term. The higher steel consumption globally will allow steel manufacturers to pass through the rise in raw material costs, which are expected to jump by ~US$55-65 per ton in CY08. We expect steel prices to rise from current levels in the near term and remain around there. We expect, average CIS hot rolled coil prices to be US$590 in Q4CY07 and US$610 in CY08. On the NCDEX (National Commodity & Derivatives Exchange Ltd.), investors can buy with a price target of Rs24,200 per ton, an upside of 9.3%.






Warm Regards,


Tarang Bhanushali

India Infoline Commodities Ltd.


Oil & Natural Gas Corpn Ltd (Q2 FY08)

Oil & Natural Gas Corpn Ltd (Q2 FY08)

CMP Rs1,250, BUY

Target price Rs1,350, Upside 8%


ä         Lower subsidy burden boosts profitability

ä         Increased gas production and higher crude realizations drive topline growth

ä         Incremental volumes from OVL expected as projects enter the development phase.

ä         Undervalued in comparison to global peers on EV/BOE. We recommend a BUY with a target price of Rs1,350.


Click below for quarterly update on ONGC



Warm Regards,


India Infoline Research Team

Muhurat Trading


We wish a very Happy Diwali and Prosperous New Year to you and your family.


Please note that both Exchanges are conducting special trading sessions on Friday, November 09, 2007 for muhurat trading on account of Diwali.


Market Opens - 6.00 p.m.
Market Closes - 7.00 p.m.

Post Closing starts -
7.20 p.m.
Post Closing Ends  -
7.30 p.m.


Indraprastha Gas Ltd (Q2 FY08): BUY

Indraprastha Gas Ltd (Q2 FY08)

CMP Rs131, BUY

Target price Rs153, Upside 16.8%


ä       Net sales increase by 12.9% yoy, tad lower than expectations of 13.9% yoy growth.

ä       OPM much in line with expectations at 43.1%

ä       Expansion in other regions and increased private car conversions to drive CNG volume growth in the future.

ä       Maintain BUY with a target price of Rs153.


Click below for Quarterly update on Indraprastha Gas Ltd



Warm Regards,


India Infoline Research Team



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