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India Equity Research Reports, IPO and Stock News
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Tata Motors Ltd: Land Rover provides details on upcoming hybrid technology [Srinivas Rao]
Tata Motors’ owned Land Rover (LR) recently showcased their newly launched Range Rover Evoque and a prototype model Range-e at the Geneva Motor Show 2011. The management of LR re-affirmed the fuel efficiency (58 miles/gallon) and low carbon emission (130g/km) of the Evoque. This is the smallest product from the LR stable and would compete in the BMW X3/X5 segment. The company also highlighted that the Range-e, expected to be launched within the next 2 years, will be a diesel electric hybrid with even superior fuel efficiency (85 miles/gallon) and lower emissions (89g/km).
Tata Motors Ltd: Strong volumes in Jaguar Land Rover; maintain Buy [Srinivas Rao]
Jaguar and Land Rover (JLR) volumes continue to be robust. JLR volumes for February 2011 are at 21,653 (+26% YoY) and YTD volumes at 217,470 (+28% YoY) are in line with management guidance of 240K units (+24% YoY) in and a tad lower than our estimates (247K, 28% YoY) in FY11E. The continued strength in JLR's volumes ties in with our two-pronged business outlook on Tata Motors a) continuing improvement in profitability in JLR, b) falling margins in the domestic business due to input costs. Maintain Buy with a target price of Rs 1465. The stock currently trades at 4xFY12E EV/EBITDA.
Commodities Special Report: Japan: A Game-Changer for EU Gas Prices? [Michael Hsueh]
The tragic events in Japan mean that supplies of LNG to the EU will now be vulnerable to diversion to Japan in the range of 5-12 bcm per annum for the foreseeable future. This could be a game-changer for the EU gas market, which has been over-supplied in the last two years, and which has an overhang of at least 10bcm -- and potentially as high as 30bcm -- to make up over the next few years. Other things being equal, we would expect the disaster in Japan to accelerate the return to a physically balanced EU gas market, and hence to accelerate the re-convergence of EU market prices towards oil-indexed levels.
US Daily Economic Notes: Japanese tragedy unlikely to reduce US growth prospects [Joseph LaVorgna]
The possible effects on the US economy from the earthquake in Japan appear less damaging than the recent weakness in US markets would imply. The tragedy in Japan is most certainly damaging to global growth in the near-term as output from the world’s third largest economy will be impaired for some time. However, the immediate impact to the US economy may actually turn out to be a mild boost to GDP growth due to the fact the US runs a $60 billion trade deficit with Japan.
India Equity Strategy: Namaste DB India Conference Highlights [Abhay Laijawala]
We hosted our fifth annual Namaste, DB Access India conference last week with 110+ companies and independent speakers (including an array of CEO panels and policy and thought leaders) and attended by 460+ institutional investors. We also organized a policy day in New Delhi coupled with sector tours (Metals, Auto, Infrastructure and Real Estate) including plant visits and dealer networks, across India. In this report we present the key takeaways from the conference. Most corporates remain cautiously optimistic on FY12 earnings, with the exception of companies in the infrastructure and real estate sectors.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Tata Motors Ltd: Land Rover provides details on upcoming hybrid technology [Srinivas Rao]
Tata Motors’ owned Land Rover (LR) recently showcased their newly launched Range Rover Evoque and a prototype model Range-e at the Geneva Motor Show 2011. The management of LR re-affirmed the fuel efficiency (58 miles/gallon) and low carbon emission (130g/km) of the Evoque. This is the smallest product from the LR stable and would compete in the BMW X3/X5 segment. The company also highlighted that the Range-e, expected to be launched within the next 2 years, will be a diesel electric hybrid with even superior fuel efficiency (85 miles/gallon) and lower emissions (89g/km).
Tata Motors Ltd: Strong volumes in Jaguar Land Rover; maintain Buy [Srinivas Rao]
Jaguar and Land Rover (JLR) volumes continue to be robust. JLR volumes for February 2011 are at 21,653 (+26% YoY) and YTD volumes at 217,470 (+28% YoY) are in line with management guidance of 240K units (+24% YoY) in and a tad lower than our estimates (247K, 28% YoY) in FY11E. The continued strength in JLR's volumes ties in with our two-pronged business outlook on Tata Motors a) continuing improvement in profitability in JLR, b) falling margins in the domestic business due to input costs. Maintain Buy with a target price of Rs 1465. The stock currently trades at 4xFY12E EV/EBITDA.
Commodities Special Report: Japan: A Game-Changer for EU Gas Prices? [Michael Hsueh]
The tragic events in Japan mean that supplies of LNG to the EU will now be vulnerable to diversion to Japan in the range of 5-12 bcm per annum for the foreseeable future. This could be a game-changer for the EU gas market, which has been over-supplied in the last two years, and which has an overhang of at least 10bcm -- and potentially as high as 30bcm -- to make up over the next few years. Other things being equal, we would expect the disaster in Japan to accelerate the return to a physically balanced EU gas market, and hence to accelerate the re-convergence of EU market prices towards oil-indexed levels.
US Daily Economic Notes: Japanese tragedy unlikely to reduce US growth prospects [Joseph LaVorgna]
The possible effects on the US economy from the earthquake in Japan appear less damaging than the recent weakness in US markets would imply. The tragedy in Japan is most certainly damaging to global growth in the near-term as output from the world’s third largest economy will be impaired for some time. However, the immediate impact to the US economy may actually turn out to be a mild boost to GDP growth due to the fact the US runs a $60 billion trade deficit with Japan.
India Equity Strategy: Namaste DB India Conference Highlights [Abhay Laijawala]
We hosted our fifth annual Namaste, DB Access India conference last week with 110+ companies and independent speakers (including an array of CEO panels and policy and thought leaders) and attended by 460+ institutional investors. We also organized a policy day in New Delhi coupled with sector tours (Metals, Auto, Infrastructure and Real Estate) including plant visits and dealer networks, across India. In this report we present the key takeaways from the conference. Most corporates remain cautiously optimistic on FY12 earnings, with the exception of companies in the infrastructure and real estate sectors.
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