Hold Reliance Industries, target of Rs 1900: Sharekhan
Sharekhan has maintained its hold rating on Reliance Industries with a price target of Rs 1900 in its report dated July 7, 2009.
“Union Budget 2009-10 has increased the minimum alternate tax (MAT) including surcharges to 17% from 11.3% earlier. To account for higher incidence of MAT, we have lowered RIL’s FY2010E earnings per share (EPS) by 4% to Rs 124.1 and FY2011E EPS by 5% to Rs 152.4. Further, we have also reduce our current net present value (NPV) estimate for Krishna-Godavari (KG) D-6 by 4% to USD16.6 billion due to higher MAT. This means a negative impact of Rs 36 per share on RIL’s value. The budget 2009-10 also provides that an undertaking can claim income tax exemption under section 80 IB of Income Tax Act on profits from natural gas production for a period of seven years from blocks offered under New Exploration Licensing Policy (NELP) VIII. Logically, this does not include tax holiday on natural gas production from KG D-6 by RIL. We maintain our Hold rating on the stock with the sum of the parts (SOTP)-based price target of Rs 1,900, “ says Sharekhan’s report.
source: Moneycontrol
Tags: reliance industries buy or sell, ril buy sell calls, sharekhan reliance tips, sharekhan trading service
Similar Posts:
Recent Posts
Latest Query
- by Prakash
Market Stats
- Sensex16042.18+106.57[+0.67%]
- Nifty4792.65+32.25[+0.68%]
- Dow Jones9993.94+85.55[+0.86%]
- Nasdaq2136.21+10.16[+0.48%]
- Dow Futures9978.00+83.00[+0.84%]
- Nikkei 2259932.90-18.92[-0.19%]
- Hang Seng19790.28+239.39[+1.22%]
- Straits Times2745.02+51.40[+1.91%]
- Shanghai2948.84+13.67[+0.47%]
- FTSE 1005111.64+19.31[+0.38%]
- CAC 403597.11-10.16[0.38%]
Search Our Archives
Research Desk
- Stocks Trading above their 50 day moving average - DMA In Stock Research
- Download free Ebooks based on Technical Analysis In Personal Training
- TOP 100 Stocks with the Highest P/E as on December 25th, 2009 In Stock Research
- TOP 100 Stocks with the Lowest P/E as on December 25th, 2009 In Stock Research
- Charting Pathsala - Your guide to Techincals In Technical Analysis
Recent Comments
- shiva CB which stocks to buy tomorrow? i hav...In Intraday calls for 09-02-10
- souvik Thanks Kartik, Good Night....In Intraday calls for 09-02-10
- mohit hi..can i enter astec lifesciences tom...In Intraday calls for 09-02-10
- Arun Hi kartik, having yes bank @ 282,pls ...In Intraday calls for 09-02-10
- Kartik Hi suzane, in simple terms, If a stock...In Intraday calls for 09-02-10
- kavita hi kartik as per your pre...In Intraday calls for 09-02-10
- rashid bought united breweries at 168..need t...In Intraday calls for 09-02-10





