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Buy Jyoti Structures: Prabhudas Lilladher

Posted on: Monday, May 25th 2009 and is filed under Brokerage Recommendations.

Prabhudas Lilladher is bullish on Jyoti Structures and has maintained its buy rating on the stock in its May 18, 2009 reports. “At the CMP of Rs 104, Jyoti Structures trades at 7.8x FY10E and 6.1x FY11E earnings of Rs 13.3 and Rs 17, respectively. A falling interest rate environmen...

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Accumulate Grasim, target of Rs 2400: Prabhudas Lilladher

Posted on: Monday, May 25th 2009 and is filed under Brokerage Recommendations.

Prabhudas Lilladher has maintained its accumulate rating on Grasim Industries with a price target of Rs 2400 in its report dated May 20, 2009. “Grasim Industries (Grasim) reported PAT of Rs 3.85 billion, in-line with our expectation of Rs 3.81 billion. Undoubtedly, the sentiments h...

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Accumulate PNB, target of Rs 682: Prabhudas Lilladher

Posted on: Monday, May 25th 2009 and is filed under Brokerage Recommendations.

Prabhudas Lilladher has upgraded its rating to accumulate on Punjab National Bank, PNB with a price target of Rs 682 in its report dated May 21, 2009. “Punjab National Bank’s (PNB’s) Q4FY09 PAT grew by 59.2% YoY at Rs 8.66 billion. This was higher than our estimate of Rs 7.1 bi...

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Buy ICRA: Parag Parikh

Posted on: Monday, May 25th 2009 and is filed under Brokerage Recommendations.

Parag Parikh Financial Advisory Services has recommended a buy rating on ICRA in its May 18, 2009 report. “ICRA Limited has delivered better than expected results for the quarter and year ended FY09. The quarterly results show a sequential growth of 32% in topline & 40% in PAT...

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Market Review for 26th May 2009

Posted on: Monday, May 25th 2009 and is filed under Market Outlook.

BSE Sensex: (13913) we said ‘the market has closed positive and has thrown in a crucial support at 13611 and the market is said to be UP as long as 13611 holds’. Well the market has managed to stay put perhaps due to F&O rollover. Our analysis remains the same…the market is sai...

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Bharti Airtel, MTN in $23 billion merger deal talks

Posted on: Monday, May 25th 2009 and is filed under Press Releases.

NEW DELHI: India’s largest telco Bharti Airtel on Monday said it has in talks to acquire a 49% stake in Africa’s largest telco MTN to create a entity stretching from the Cape of Good Hope across the African continent, West Asia and the Indian Subcontinent with revenues of about $20 bi...

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Lull over, realty ready to roar again

Posted on: Monday, May 25th 2009 and is filed under Stock Views.

As developers cut debt, offload assets and push sales, investors start trickling back. Investors and analysts have begun re-rating the realty sector on optimism that the worst may be over, as the efforts of recent months and a stable global environment will help developers attract funds ...

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Karuturi Global to raise 3 bn via preferential issue

Posted on: Monday, May 25th 2009 and is filed under Stock News.

The board of directors Karuturi Global at its meeting held on May 23, 2009, decided to raise about Rs 3 billion through the preferential issue of approximately 241.5 million warrants to the promoters and their group and to certain strategic investors, subject to applicable compliances. T...

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REC looks cheaper than PFC: Shashank Khade

Posted on: Monday, May 25th 2009 and is filed under Stock Views.

Shashank Khade, VP, Portfolio Management Services at Kotak Securities is of the view that Rural Electrification Corporation, REC is relatively cheaper than Power Finance Corporation, PFC. Khade told CNBC-TV18, “REC is relatively cheaper than Power Finance Corporation and because of...

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MTN deal would be good for Bharti shareholders: Experts

Posted on: Monday, May 25th 2009 and is filed under Press Releases.

Early on Monday morning, India’s leading telecom company Bharti Airtel announced it had renewed its effort for a significant partnership with MTN Group Limited and is exploring a potential transaction whereby, pursuant to a scheme of arrangement, Bharti would acquire a 49% shareholding ...

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