Tata Consultancy Services Ltd To Outperformer With a Target Rs.3,000.00 – IDFC Securities Ltd

Q3FY15 result highlights *  Revenues grew by a modest 0.1% qoq to US$3,931m (IDFC est. US$3,968m), primarily due to weak seasonality (volume +0.4% qoq) and cross-currency headwind of 2.4%, while blended pricing increased by 2.3% in CC terms. *  EBIT margin increased by 20bp qoq to 27%, with tailwind of…

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Buy Federal Bank Ltd For Target Rs.170.00 – Sharekhan

Key points *  Led by provision reversals of Rs65 crore (mainly investment related) and treasury profits, the net profit of Federal Bank increased by 15% YoY to Rs265 crore in Q3FY2015. However, the growth in the core income was relatively sluggish (at 7.6% YoY) due to a dip in the…

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BSE announces change in banking index calculation

The index will follow modified market capitalization methodology, capping max weight of constituents at 22% at each rebalance Rebalancing of the BSE’s banking index, the S&P BSE Bankex, would now depend on the weightage of the index constituent spilling over 22 per cent. BSE on Friday announced a change in the…

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Buy IDFC Ltd For Target Rs.193.00 – Eastern Financiers Ltd

Company Background Infrastructure Development Finance Company Ltd (IDFC) is India’s leading integrated infrastructure finance player providing end to end infrastructure financing and project implementation services.. The company operates full range of business lines, from project and corporate finance to asset management (mutual funds and alternatives) and investment banking.   Highlights…

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January 2015 Update On Metals & Mining Sector – Prabhudas Lilladher Ltd

The recent government ordinance on mines and mineral is one of the best efforts towards revitalising the mining sector. The Ordinance regularises the mines of notified minerals (iron ore, limestone, bauxite and manganese ore) operating under second or subsequent deemed renewal which were termed illegal by the Supreme Court (SC)…

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Buy V-Guard Industries Ltd For Target Rs.1357.00 – Firstcall Research Ltd

Highlights *  V-Guard Industries Limited, a Kochi based, multiproduct company caters to Light Electricals sector manufacturing voltage stabilizers, Invertors & Digital UPS systems, Pumps, House wiring/LT cables, Electric water heaters, Fans and Solar water heaters etc. *  V-Guard’s net sales registered 29.10% increase and stood at Rs. 4312.53 mn in…

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Buy Reliance Industries Ltd For Target Rs.978.00 – Firstcall Research Ltd

Highlights *  Reliance Industries Ltd Net profit rose by 4.59% in Q2 FY15 and recorded at Rs. 57420.00 mn compared to Rs. 54900.00 mn in the same period previous year. *  The company’s Net sales stood at Rs. 964860.00 mn in Sept quarter of FY15 against Rs. 1037580.00 mn in…

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January 2015 Update On Capital Goods & Infrastructure Sector – Prabhudas Lilladher Ltd

While 2014 was a year of revival of hope and improved business sentiments, we believe 2015 could see hope turning into realty through a revival in investment cycle driven by various measures taken by government to remove bottleneck and pent up demand of last few year. Being on the cusp…

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January 2015 Update On Automobiles Sector – Sharekhan

The domestic automobile industry ended the year 2014 on a high note with most passenger vehicle (PV) manufacturers reporting a strong growth in dispatches for the month of December. However, the government’s decision to not extend the concessional excise duty benefit has to some extend dampened the spirits of the…

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