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India Equity Research Reports, IPO and Stock News
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Sharekhan Top Picks: November 2011 (click company name below for details):
The market surprised positively last month and the
benchmark indices, Sensex and Nifty, registered gains of
6.8% and 7% respectively since our last revision in the Top
Picks basket. The upsurge was more pronounced in the large
caps with the CNX Midcap Index reporting a relatively lower
gain of 3.2% for the same period. Given the mix of largecap
and mid-cap stocks in it our Top Picks basket performed
better than the CNX Midcap Index with a gain of 4.4%. But it
relatively underperformed the benchmark indices after
outperforming them smartly for seven consecutive months.
In this month, we are making two changes in the Top Picks
basket. We are introducing PTC India in place of CESC as
part of the churn within the power sector. Despite being
undervalued, PTC India was languishing due to concerns
related to the health of the state electricity boards (SEBs),
the buyers of electricity. These concerns could now get
mitigated by the recent move by the SEBs to increase tariffs.
Another change involves the replacement of Orient Paper
and Industries with IL&FS Transportation Networks. Orient
Paper and Industries reported strong quarterly results but
the higher than expected pressure on its margins is a cause
for concern and limits the upside in the near term. On the
other hand, IL&FS Transportation Networks is our top pick
in the infrastructure sector, which could see some
improvement in sentiments due to a possible progress in
execution accompanied by a pause in interest rate hikes.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Sharekhan Top Picks: November 2011 (click company name below for details):
The market surprised positively last month and the
benchmark indices, Sensex and Nifty, registered gains of
6.8% and 7% respectively since our last revision in the Top
Picks basket. The upsurge was more pronounced in the large
caps with the CNX Midcap Index reporting a relatively lower
gain of 3.2% for the same period. Given the mix of largecap
and mid-cap stocks in it our Top Picks basket performed
better than the CNX Midcap Index with a gain of 4.4%. But it
relatively underperformed the benchmark indices after
outperforming them smartly for seven consecutive months.
In this month, we are making two changes in the Top Picks
basket. We are introducing PTC India in place of CESC as
part of the churn within the power sector. Despite being
undervalued, PTC India was languishing due to concerns
related to the health of the state electricity boards (SEBs),
the buyers of electricity. These concerns could now get
mitigated by the recent move by the SEBs to increase tariffs.
Another change involves the replacement of Orient Paper
and Industries with IL&FS Transportation Networks. Orient
Paper and Industries reported strong quarterly results but
the higher than expected pressure on its margins is a cause
for concern and limits the upside in the near term. On the
other hand, IL&FS Transportation Networks is our top pick
in the infrastructure sector, which could see some
improvement in sentiments due to a possible progress in
execution accompanied by a pause in interest rate hikes.
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