what is the dividend date of RUCHI SOYA HAS ANYBODY GOT IT

Hi Cb,
Expectations for Market ?
Is it about to go down or up ?

am holding bharat gears @97, but in small quantity. can i exit? its trading @ 86.

Hi CB, can i enter pitti laminations, balpharma and arrow textiles @cmp?

CB i have raincom @ 171.5...what to do? should i exit now

Hi raj, no, not yet

Hi SEKAR, no, not sure yet

Hi Gitanjali, no, not sure of that news

Hi BAPAAN, its a hold for short term.

Kalpataru to power ahead on high infra spend
Published: Monday, Oct 18, 2010, 3:23 IST
By Nitin Shrivastava | Place: Mumbai | Agency: DNA

Huge investments have been planned for infrastructure development across segments such as power and roads in order to ensure the economy continues to grow at a fast pace.

Kalpataru Power Transmission Ltd, one of the country’s leading contractors in the transmission EPC segment, stands to benefit from not only the higher investments laid out for power sector in
India and abroad, but also from its presence in other infrastructure
verticals such as roads and oil & gas pipelines.

Business:
Kalpataru Power Transmission Ltd (KPTL) is engaged in design, fabrication, testing, erection and construction of transmission lines and substation structures on a turnkey basis in India and abroad. It also operates as a biomass-based independent power producer and generates power using renewable/ non-conventional energy sources such as agricultural waste and crop residues. In addition, it is involved in constructing cross-country oil & gas pipelines and telecom towers.

On a standalone basis, KPTL has a strong order backlog of around Rs5,200 crore, with the share of transmission and distribution (T&D) and pipeline infrastructure at 88% and 12%, respectively.

Further, in its T&D segment, the company is not entirely dependent on power grid corporation (PGCIL), but has orders close to 80% from state electricity boards.

On a geographical basis, domestic orders constitute almost 68% of its order book and international orders the rest. The company, which has increased its focus on overseas projects, mainly from Africa, Middle East and South East Asia, won new orders worth Rs435 crore last month.

KPTL also has a presence in the civil contracting space through its subsidiary JMC projects, which is involved in executing EPC projects in residential and commercial buildings, infrastructure and power.

The order book of JMC projects stands at close to Rs4,000 crore with orders spread across verticals such as factories and buildings, infrastructure road projects and power.

It also has a subsidiary, Shree Shubham Logistics, involved in setting up agri-logisitcs parks and has entered into an agreement with some state governments to manage state-owned warehouses.

Investment rationale:
The government has huge investment plans for adding new power generation capacity with almost 62,000 mw expected to be completed during the current Five Year Plan and a further 100,000 mw in the next. Focus on T&D has also improved in recent times to address the issues pertaining to high power losses of around 25% and demand-supply mismatch across various states.

This calls for strong national and inter-regional transmission
networks. Huge investments planned by Power Grid Corporation and state utilities, apart from private players, would benefit EPC players such as KPTL.

The overseas market provides for bigger opportunities as several emerging nations in Africa, South East and Middle East Asian regions are looking to upgrade and add power transmission lines. KPTL is expected to also improve its profitability as it focuses on high-margin international orders.

The company’s diversified order book, both in terms of sector, clients and geographical concentration, ensures that business is not affected by any adverse condition in any particular sector or region.

The company is also taking steps to venture into asset ownership
business model. In joint venture with Techno Electric, it recently
secured an order for a transmission BOT project in Haryana.

Further, its subsidiary JMC recently won a road project from the NHAI, to be executed on BOT basis. The company, which has raised close to Rs450 crore through a qualified institutional placement in May 2010, is also well-positioned to fund the equity contribution in any of the fresh contracts in both power and road spaces.

Further, the company is looking to expand into railway electrification and civil structure projects.

Concerns:
The domestic T&D contracting business is getting increasingly
competitive with new players entering the fray, which has led to a
reduction in the share of orders received from Power Grid Corporation. The contracting business requires high working capital and any delay in receiving payment from clients may put pressure on the margins.

Any delay in power investment by private and government players may also lead to reduction in order book and hence revenues.
Valuations:

KPTL’s decent order book, on a consolidated basis, provides good visibility for revenue growth over the next two years. The company’s revenues are expected to grow at a CAGR of 19% over FY10-FY12E and net profit at a CAGR of 28% over the same period.

At the current market price of Rs180.60, the stock of KPTL trades at 11.40 times its expected FY11 earnings and 9.56 times FY12 E
earnings per share, respectively. In view of its diversified order book and huge investments lined up in power T&D, both domestically and internationally, the stock can be looked at current levels from a medium term perspective.

Disclaimer: The writer does not hold any share in the company.

cb, holding one lot of Neyvile Lignite from 180, pls advise what to do?