Desi Stock Research Reports

Update

DesiStockResearch@gmail.com — Fri, 03 Jun 2011 19:59:09 PDT

We are re-doing some connectivity between our blog (reports.desistockresearch.com) and our twitter and facebook account. So current update are only available on www.desistockresearch.com from Jun 2011.
The feeds, Twitter and facebook updates will be done shortly.
Thanks.

ET Investor's Guide dated 2011.05.30

DesiStockResearch@gmail.com — Thu, 02 Jun 2011 06:24:56 PDT

ET Investor's Guide dated 2011.05.30

Story Of The Week
Paper Economy
Bull's Eye
Bulls Eye
Fund Review
Hitting The Right Note Mirae Asset Opportunities Fund
Techno Wrap
Out Of The Woods
In The Spotlight
Run Out of Steam Reliance Industries
IPO
Too Many Cooks Timbor Home
Stock Idea
Smooth Ride NIIT Technologies
Power Play Elecon Engineerings
Banking On Growth IndusInd Bank
Take 2
On A Firm Ground Monnet Ispat and Energys
Special Story
Calling The Tune Redington India
Asian Buyers Rule London's New-Homes Market
Recession Forecast? No Way
Is there really a China story?
ULIP Review
GOING THE EXTRA MILE Aviva Sachin Extra Cover Advantage

acb india ipo (SEBI) DRHP

DesiStockResearch@gmail.com — Wed, 01 Jun 2011 07:50:36 PDT

Public Issues: Red Herring Documents filed with ROC

Date	Rating	Target Price	Recommendation Price	Broker house
1 Jun 2011	--	--	--	SEBI Report

birla pacific medspa ipo (SEBI) RHP

DesiStockResearch@gmail.com — Wed, 01 Jun 2011 07:50:08 PDT

Public Issues: Red Herring Documents filed with ROC

Date	Rating	Target Price	Recommendation Price	Broker house
1 Jun 2011	--	--	--	SEBI Report

indraprastha gas (Citi) Reiterate Buy: Steady Quarter; Sustaining Margins

DesiStockResearch@gmail.com — Wed, 01 Jun 2011 07:31:11 PDT

Steady quarter; margins holding up well; Volume growth remains robust; Adjusting estimates; TP raised to Rs385

Date	Rating	Target Price	Recommendation Price	Broker house
31 May 2011	buy	385 (from 375)	332	Citi Report

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colgate palmolive (citi) Lower Advertising Drives Profit Beat

DesiStockResearch@gmail.com — Wed, 01 Jun 2011 07:27:59 PDT

4QFY11 PAT - flat Y/Y - ahead of expectations; Pressure visible on gross margins; Reiterate Sell

Date	Rating	Target Price	Recommendation Price	Broker house
31 May 2011	sell	857 (from 800)	896	citi Report

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coal india (Citi) Buy: Coal Getting Hotter

DesiStockResearch@gmail.com — Wed, 01 Jun 2011 07:27:47 PDT

Maintain Buy, Raising TP; Estimate changes; Upside to our estimates; FY11 PAT up 11%;

Date	Rating	Target Price	Recommendation Price	Broker house
31 May 2011	buy	471 (From 395)	408	Citi Report

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educomp solutions (Citi) FY11 below Expectations; Good FY12 Guidance

DesiStockResearch@gmail.com — Wed, 01 Jun 2011 07:27:34 PDT

FY11 net profit at Rs3.4b, below expectations; Good FY12 Guidance; SmartClass revenues up 38% yoy; EBIT margins at ~58%; Other businesses still in early stages; Fund raising resolution surprises; FCCB restructuring

Date	Rating	Target Price	Recommendation Price	Broker house
31 May 2011	sell	540	475	Citi Report

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reliance capital (JPMorgan) 4Q11: Catalysts may take time to play out

DesiStockResearch@gmail.com — Tue, 31 May 2011 09:13:38 PDT

4Q11-Mixed bag; Maintain Overweight

Date	Rating	Target Price	Recommendation Price	Broker house
31 May 2011	overweight	740	500	JPMorgan Report

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colgate-palmolive india (JPMorgan) Q4FY11 : In-line operational performance

DesiStockResearch@gmail.com — Tue, 31 May 2011 09:11:29 PDT

Overall volume growth moderates to 9%; Gross margin pressures come to the fore; however mitigated by lower A&P spends; TP revision

Date	Rating	Target Price	Recommendation Price	Broker house
31 May 2011	underweight	865 (from 795)	896	JPMorgan Report

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unitech (JPMorgan) Priced for sustainability than fundamentals

DesiStockResearch@gmail.com — Tue, 31 May 2011 09:10:08 PDT

Date	Rating	Target Price	Recommendation Price	Broker house
31 May 2011	overweight	60	34	JPMorgan Report

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sun pharma (Angel) Better-than-expected results

DesiStockResearch@gmail.com — Mon, 30 May 2011 08:48:12 PDT

Date	Rating	Target Price	Recommendation Price	Broker house
30 May 2011	accumulate	518	465	Angel Report

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semantic space technologies (CATE) CARE ASSIGNS 'CARE IPO GRADE 3' GRADING TO THE IPO

DesiStockResearch@gmail.com — Tue, 31 May 2011 09:14:50 PDT

Date	Rating	Target Price	Recommendation Price	Broker house
30 May 2011	3/5	--	--	CATE Report

sun pharma (CreditSuisse) Strong chronic franchise continues to drive outperformance; expect FY12 growth guidance of 18%

DesiStockResearch@gmail.com — Tue, 31 May 2011 09:14:36 PDT

Strongest domestic performance across peers; Strong Taro performance; ex Taro exports weaker

Date	Rating	Target Price	Recommendation Price	Broker house
30 May 2011	outperform	515	445	CreditSuisse Report

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reliance power (CreditSuisse) FY11 results lower than expectations, Sasan delay disappointing

DesiStockResearch@gmail.com — Tue, 31 May 2011 09:14:25 PDT

Weak FY11 results on by domestic coal deficit; zero tax on treasury income surprising; Cut earnings and price target; maintain UNDERPERFORM

Date	Rating	Target Price	Recommendation Price	Broker house
30 May 2011	underperform	126 (From 129)	116	CreditSuisse Report

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mphasis (CreditSuisse) Assuming coverage: HP overhang remains

DesiStockResearch@gmail.com — Tue, 31 May 2011 09:14:09 PDT

Results in line with margin guidance; Continued one-offs worrying; Maintain NEUTRAL

Date	Rating	Target Price	Recommendation Price	Broker house
30 May 2011	neutral	500 (from 550)	475	CreditSuisse Report

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havells (CreditSuisse) In line quarter. Sylvania margin improvement on track

DesiStockResearch@gmail.com — Tue, 31 May 2011 09:13:57 PDT

Date	Rating	Target Price	Recommendation Price	Broker house
30 May 2011	outperform	455	395	CreditSuisse Report

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oil and natural gas corporation (JPMorgan) 4QFY11 impacted by subsidies, dry well write-offs

DesiStockResearch@gmail.com — Tue, 31 May 2011 09:11:41 PDT

Higher DD&A leads to earnings miss; Subsidies impact crude realizations; Higher DD&A costs in 4Q:; Gas pool revenues booked in 4Q:; Focus remains on policy moves

Date	Rating	Target Price	Recommendation Price	Broker house
30 May 2011	overweight	390	277	JPMorgan Report

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havells india (JPMorgan) Big FY11 earnings beat, increase price target to Rs600

DesiStockResearch@gmail.com — Tue, 31 May 2011 09:11:12 PDT

Solid improvement in Sylvania margins; New products driving domestic business; FY11 beats estimates; Solid earnings growth, strong cash flow and capital return profile; increase PT to Rs600

Date	Rating	Target Price	Recommendation Price	Broker house
30 May 2011	overweight	600 (From 480)	396	JPMorgan Report

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crompton greaves (JPMorgan) Key takeaways from analyst meet post recent developments

DesiStockResearch@gmail.com — Tue, 31 May 2011 09:11:00 PDT

Acquisition of US based QEI completes CG's package for power automation; Transformer manufacturing unit in Brazil to be operational in next 3 years; Summing up growth potential from recent overseas acquisitions; Jalgaon distribution will not entail too much investment

Date	Rating	Target Price	Recommendation Price	Broker house
30 May 2011	overweight	300	257	JPMorgan Report

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bharat petroleum corporation bpcl (JPMorgan) Strong refining performance, subsidy support underpins 4Q

DesiStockResearch@gmail.com — Tue, 31 May 2011 09:10:46 PDT

BPCL profits rise on refining performance; Refining performance robust; Pension provisions, forex losses lead to higher expenses; Subsidies provide earnings support; While we expect reforms, it is likely to be a bumpy ride

Date	Rating	Target Price	Recommendation Price	Broker house
30 May 2011	neutral	645	628	JPMorgan Report

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hindalco industries (JPMorgan) Projects again pushed back with Utkal slated for 2012 (from Early 2012 previously), capex costs increased

DesiStockResearch@gmail.com — Tue, 31 May 2011 09:09:53 PDT

Date	Rating	Target Price	Recommendation Price	Broker house
30 May 2011	neutral	237	197	JPMorgan Report

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reliance infrastructure (JPMorgan) FY11 PAT in-line, balance sheet details awaited

DesiStockResearch@gmail.com — Tue, 31 May 2011 09:09:40 PDT

Reliance Infrastructure reported FY11 PAT of Rs15.5bn (up 2% YoY), slightly ahead of est. (Rs15.3bn); Commentary of execution of EPC order backlog, now Rs296bn; Plans to transfer 433MW plants to RPWR have been shelved; Although buyback adjusted Mar-12 SOP PT of Rs825

Date	Rating	Target Price	Recommendation Price	Broker house
30 May 2011	neutral	845 (From 825)	558	JPMorgan Report

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reliance power (JPMorgan) Mar-q strong, but fundamental risks remain: Maintain UW

DesiStockResearch@gmail.com — Tue, 31 May 2011 09:09:14 PDT

4Q results improve with Rosa operating at high PLF combined with a tax benefit; Rosa II (600MW), Butibori (600MW) and Samalkot (2.4GW) inch closer to commissioning. (1) Rosa II; Progress on Chitrangi and Sasan mines; An improvement in funding and execution climate

Date	Rating	Target Price	Recommendation Price	Broker house
30 May 2011	underweight	90	110	JPMorgan Report

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tata communications (JPMorgan) Q4'FY11: Neotel drag continues; watching the focus on profitability

DesiStockResearch@gmail.com — Tue, 31 May 2011 09:09:00 PDT

TCOM reported consolidated Q4 revenue of INR 30.7 bn (+1.7% Q/Q, +3.2% Y/Y); Consolidated EBITDA margin was 11.6%; Neotel continues to drag; Net loss impacted by one-offs and Neotel;

Date	Rating	Target Price	Recommendation Price	Broker house
30 May 2011	underweight	207	215	JPMorgan Report

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