Gujarat NRE Coke-Rains impacted sales volume, Macquarie Research,

Visit http://indiaer.blogspot.com/ for complete details �� ��


Gujarat NRE Coke
Rains impacted sales volume
Event
 Q2FY11 results – better margins but lower volumes: GNC Q2 results were
impacted by 40% drop in sales volume as heavy rains led to flooding of its
facilities. However, the improvement in margins is encouraging and company
remains on track to meet our full-year estimates. GNC stock has been rangebound,
but we believe that the strong performance of its mining subsidiary in
the results expected this month will drive the re-rating. We maintain our
Outperform rating and target price of Rs103.

Capital Goods-Growing order book and steady execution gives comfort, Prabhudas Lilladher,

Visit http://indiaer.blogspot.com/ for complete details �� ��


 Execution on track: The Capital Goods sector reported a sales growth of 21%
YoY to Rs278bn. The top‐line performance is strong, given that we had
monsoons for ~80 days in the quarter. Sales growth has been on a healthy
uptrend. The execution has improved clearly at the ground levels; this is on the
back of various issues which the companies in this sector are facing at the
ground levels like land acquisition and other infrastructure bottlenecks.

Accumulate Coal India, traget Rs 366:: Prabhudas Lilladher,

Visit http://indiaer.blogspot.com/ for complete details �� ��


 Indian coal markets in severe deficit: We expect severe deficit in the domestic coal
market owing to an increase in the domestic supplies incommensurate with strong
demand growth. Domestic supplies would grow at a CAGR of 7.2%, significantly
below the growth of 8.9% in demand during FY11-FY17. Reflecting the same, the gap
between demand and domestic supplies would grow at a CAGR of 19% during FY11-
FY17 to 230m tonnes in FY17 against 68m tonnes in FY10.

Vodafone -Tariff decline, slowdown in minutes’ growth: Alchemy

Visit http://indiaer.blogspot.com/ for complete details �� ��


Vodafone India
Telecom
Tariff decline, slowdown in minutes’ growth
Vodafone reported its 2QFY11 numbers today. We focus on its performance in
the Indian market and the likely implication for its Indian peers, who are yet to
announce their 2QFY11 results. Vodafone Essar reported a 0.2% QoQ decline in
revenue (constant currency) to `64.7bn. Growth in voice minutes slowed down
significantly, QoQ.

Gray Market Premium Prices for India IPO: 12th Nov, 2010

Visit http://indiaer.blogspot.com/ for complete details �� ��

Company Name	Offer Price	Premium
	(Rs.)	(Rs.)
Gravita India	125 (upper band)	56 to 58
Power Grid FPO	90 (+ 5% retail discount)	6 to 8

Kesoram Industries– 2QFY2011 Result Update-Angel Broking

Visit http://indiaer.blogspot.com/ for complete details �� ��

Kesoram Industries– 2QFY2011 Result Update

Angel Broking maintains a Buy on Kesoram Industries with a Target Price of Rs424.

Kesoram Industries (Kesoram) posted net loss of `33cr during the quarter, on

account of a steep 20% decline in cement prices in the southern region and surge

in rubber prices (up 72% yoy), a key raw material used in manufacturing tyres.

Bharti Airtel: Volume X pricing = revenues; revenues – costs = EBITDA: Kotak Sec

Visit http://indiaer.blogspot.com/ for complete details �� ��


Bharti Airtel (BHARTI)
Telecom
Volume X pricing = revenues; revenues – costs = EBITDA. Bharti reported a weak
quarter with India wireless performance the key disappointment, even on a seasonalityadjusted
basis. We continue to see competition-led structural pressure sustaining in the
Indian wireless sector and would be wary of extrapolating any short-term trends,
whatsoever. Early days as far as Africa foray and 3G impact are concerned, but Street’s
optimism on these poses downside risks, in our view. Reiterate REDUCE.

Reliance Industries - margin expansion in polyester chain: Edelweiss

Visit http://indiaer.blogspot.com/ for complete details �� ��

Reliance Industries (RIL IN, INR 1,062, Hold)

n  Recent surge in cotton prices led to rise in demand/prices of PSF/PFY …

Cotton prices have surged and are probably at their all time high. The Cotlook A Index has risen 34.4% in the past one month and 17.5% in 12 days (see Chart 1 in next page). Higher cotton prices have led to spike in the demand of PSF, as the input substitutes cotton at the fibre level. Consequently, PSF/PFY prices have increased dramatically. PSF/PFY prices are currently at USD 1,750-1850/mt (40-50% higher over the past one month, 20-30% higher since November 1, 2010).

Earnings Result Calendar 13-Nov-10

Visit http://indiaer.blogspot.com/ for complete details �� ��

13-Nov-10
Company	Company	Company	Company	Company
Aankit Gran	CIL Securities	India Steel	Midpoint Soft	Sat Inds
ABG Infra	Citurgia Bio	Indian Oil Corp	Monnet Inds	SCOPE IND
Ace Software	Claro India	Indian Toner	Monnet Sugar	Sezal Glass
Addi Inds	Classic Elect	Indoasian Proj	Mudra Lifestyle	Shaily Engr
Adhunik Metal	Clutch Auto	Indswift	MVL	Shikhar Leas
ADV POWER	Compuage Info	Indswift Lab	MVL Inds	Shree Ashtavina
Advent Comp	Compulearn	Indtradeco	Nalwa Sons Inv	Shree Rajeshw Pap
Agro Dutch	Concurrent India	Innocorp	National Steel	Shri Krish Dev
Ahlcon Par	Continental Petro	Interfit Tech	NCL Inds	Shyamal Hold
Ahluwalia Contr	Country Club	IOL Chemicals	ND Metal	SNS Textiles
Ajanta Soya	Country Cond	IT People	Neelkanth Tech	Software Tech
ALKALI	Cox & Kings	IVR Prime	New Bombay Prin	STL Global
Ambica Agarb	Creative Eye	IVRCL Infra	New Markets Adv	STORE ONE
Amrutanjan Health	Cubical Fin	Jagatjit Inds	Nissan Copper	Suditi Inds
Andhra Petro	D&H Welding	Jagsonpal Phar	NK Inds	Sumedha Fisc
ANGIND	DCM Shriram Inds	Jay Ushin	Norben Tea	Super Bakers
Anjani Portland	Deal India	JINDALCOTEX	Nouveau Multi	Super Tannery
Anukaran Comm	Delton Cables	JMDE Pack	Nuway Organic	Superhouse
Anus Lab	Dhandapani Fin	JMG Corp	OCL Iron	Supreme Infra
Aravali Sec	DHP India	JPT Securities	OK Play India	Suraj Diamond
Archidply Inds	Dollex Inds	Jupiter Biosc	Olympia Cap	Syncom Form
ARIH SUPER	Donear Inds	JVL Agro Inds	Oricon Enter	T Spir World
Arvind Chem	Doon Valley	Kadamb Constr	Orient Paper	T&I Global
Arvind Remedies	Dredging Corp	Kalpena Inds	Orient Press	Taparia Tools
Ashco Niulab	Enso Secutrack	Kalptaru Pap	Oswal Spinning	Telecanor Glob
ASSAMCO	EPC Industrie	Kamadgiri Syn	Padmalaya Tele	Titagarh Wag
Atco Corp	Epic Energy	Kamron Lab	Parichay Invest	Tokyo Finance
Atcom Tech	Era Fin Serv	KG Petrochem	Patel Engr	Tokyo Plast
ATN Intl	Era Infra	KGN Inds	Patidar Buildcon	Trend Elect
Autoriders Fin	Evinix Accss	Khaitan Elect	PBA Infra	Tricom Fruit
Autoriders Intl	EXCEL INFO	Khandwala Sec	PFL Infotech	Tricom India
Axon Infotech	Freshtrop Fruit	Kiran Prnt	PG Foils	Triochem Prod
Bacil Pharma	Ganesh Hous	Kisan Mouldings	Pioneer Dist	TVS Srichakra
BAG Films	Gayatri Tissue	KLG Cap Serv	PRADIPOVERS	Twilight Litaka
Baid Leasing	Genesys Intl	KLG Systel	Prism Finance	UG Hotels
Bal Pharma	GI ENGINERG	Koffee Break	Raasi Enter	Unitech
Bala Tech Inds	GIVO	Kohinoor Broad	Rabha Plast	Uttam Sugar
Balrampur Chini	Glory Polyfilms	Kothari Ferm	RADIX IND	Vaibhav Gems
Bartronics	Goldstone Tech	Koutons Retl	Raghunath Intl	Value Inds
Bell Ceramics	Golkunda Diam	Krishna Ventures	Raghunath Tob	Viceroy Hotels
BHAG GAS	GSL NOVA	KS Oils	RAJRAYON	Vikash Metal
Bhandari Hos	Gujarat Capital	Ledo Tea	Ramgopal Poly	Viksit Engr
Bhatinda Chem	Gujarat Craft	Lumax Automotive	Rana Sugars	Vippy Inds
Bheema Cem	Gujarat Org	Maars Software	Ranklin Sol	Vippy Spinpro
Bhuwalka Steel	Gulshan Poly	Manaksia	Ravinay Trad	Visesh Info
Birla Precision	Hanil Era Tex	Marg	Regency Hosp	Vora Constr
BISIL PLAST	High Str Fila	Marg Proj	Reliance Cap	Wall Street Fin
Bloom Dekor	Hindustan Appl	Marmagoa Steel	Reliance Comm	Yarn Syndicate
BMB Music	Hindustan Dorr	MASTER	ROCKON FIN	Zenith Birla
Bodal Chemicals	Hitech Plast	Matra Rlty	Roopa Inds	Zenith Comp
Brescon Corp	Hotel Leela	Maxwell Inds	Salem Textiles	Zenith Info
BSEL Infra	House of Pearl	Mcnally Bharat	SAND PLAST	Zenu Infotech
CCAP	IAG Co	Medicamen Bio	Sanket Intl
Centenial Surg	Impex Ferro	Metrochem Inds	Sanmitra Comm
CHISEL	In House Prod	Midfield Industries	Saregama India