BUSINESS
Here’s how engineering cos reinvent their biz as opportunities shrink
This shift will provide diversification and scale but help garner higher margins and ensure sustainability for many of these companies as the competitive landscape changes
MONEYCONTROL-RESEARCH
Defence sector Q2FY19 review: growth prospects improving
BUSINESS
Salasar Techno Engineering: A high quality smallcap trading at attractive valuations
The stock is currently trading at 9.6 times FY19 estimated earnings, which is quite reasonable for a company that is growing and has strong return ratios
BUSINESS
GE T&D India: Battling the slowdown
A lot of pure transmission and distribution (T&D) players are increasingly finding it difficult to cope up with the drop and possible slowdown in transmission capex, particularly in the conventional energy sector.
MONEYCONTROL-RESEARCH
Tata Steel Q2 review: Capacity building initiatives, strong pricing trend prove beneficial
Thanks to the operating efficiencies kicking in because of the high scale, the company gained in terms of operating margins.
BUSINESS
Tata Power: SC allowing compensatory tariff could be a game changer
Tata Power's Mundra plant has a capacity of around 4,000 MW that had become unviable because of the rise in cost of generating power
BUSINESS
Lakshmi Machine Works share buyback: A strategy to reward shareholders
Since May this year, the stock has fallen by around 40 percent from Rs 9,383 to around Rs 5,667. It is currently trading at 28 times its FY19 annualised earnings
MONEYCONTROL-RESEARCH
Tata Sponge: Acquisition of Usha Martin could prove value accretive
While Tata Sponge partly missed capitalising on the up cycle in the steel industry, the move now to acquire Usha Martin’s value-added long products steel business could prove to be shot in the arm.
BUSINESS
JSW Steel Q2 review: Keep expectations low near term
Higher inputs prices or raw material prices for iron ore, coal and others such as electrodes pose a threat for steel manufacturers.
EARNINGS
Sterlite Technologies: A compounding machine
Despite strong earnings visibility, the stock has fallen recently, thereby rendering valuation far more realistic
BUSINESS
Adani Ports & SEZ: On a strong growth trajectory
With better volumes and right cargo mix, utilisation will further improve and should lead to improvement in margin and return ratios, which would support earnings and valuation
BUSINESS
This infra stock is offering deep value; should you buy?
The company has cleaned up its balance sheet, has ample liquidity, is sitting on a huge order book and its projects are well funded
BUSINESS
Hindustan Zinc: A good defensive play in the volatile commodity market
Current valuations based on enterprise value at 7.8 times its estimated operating profits of FY19 are quite reasonable and supportive especially in the light of 25% return on equity, zero debt and cash of about Rs 23,000 crore in the books.
BUSINESS
Shakti Pumps: 5 factors that make it an attractive investment
We feel the valuation (stock is trading at 18 times) is reasonable considering the opportunity in the sector, leadership position, focus on single segment, good return ratios and strong growth visibility
BUSINESS
Can the CESC demerger unlock value for investors?
Our calculation suggest that sum total of these individual businesses on a conservative basis accrues to about Rs 1,350-1,365 a share, which is quite attractive compared with the CESC’s current market price of Rs 913 share
BUSINESS
Tata Sponge Q2 review: Profitability to improve, valuations remain attractive
The stock has corrected and currently trades at an attractive valuations of about 9 times its FY19 estimated earnings
COMPANIES
Looking for bargains? Here is a PSU stock that can compound wealth and yet protect capital
At its peak, the company had traded at 25-32 times its forward earnings as against the current valuation of 11 times.
MONEYCONTROL-RESEARCH
PSU buyback: An opportunity in a volatile market
Thanks to correction in markets, few PSUs have come out with the buy backs and they are worth a look
BUSINESS
A 5-point checklist for investors that could help navigate volatile markets
A cheap stock could remain cheap forever if the value is destroyed. Stocks like Gitanjali Gems never recovered from that cheap zone as the business was completely wiped out post the Nirav Modi crisis
BUSINESS
How asset-rich ITNL can help parent IL&FS with its financial troubles
Companies such as ITNL, which hold hard assets such as operational BOT road assets can raise money through monetisation.
MONEYCONTROL-RESEARCH
With Usha Martin acquisition Tata Steel strikes while the iron is hot
Even at 90% capacity utilisation and assuming a 50% improvement in current EBITDA per tonne to about Rs 8250 per tonne over the next two years, it can potentially generate operating profits of about Rs 740 crore.
MONEYCONTROL-RESEARCH
Garden Reach Shipbuilders IPO: Defensive in character, expensive in price
While the business has some merits, given the slowdown in the defence space, past performance of the company and the premium valuations (15 times FY18 earnings) the risk-reward looks tilted.
BUSINESS
BHEL’s buyback: Is it throwing good money after bad?
It would be worth noting that the success of any buyback would only yield results with the commensurate turnaround in the fundamentals of the business
BUSINESS
IRB InvIT: Does accumulation of units by promoters signal better days ahead?
IRB Infra promoter purchased 75 lakh units of IRB InvIT as prices hit a low. The fund currently offers a yield of close to 16 percent
