26 August 2012

Bharat Electronics - Sustaining ace defence play tag; visit note; Buy: Edelweiss


Bharat Electronics (BHE IN, INR 1,258, Buy)
We recently met the top management of Bharat Electronics (BEL) to gain insights into the company’s business and its plans going ahead. Following are the key highlights of our interaction

Want to teach your child importance of saving? Try this :: Business Standard



With children's education cost rising at a fast clip, many of them would be borrowers even before they have started earning. In such circumstances, it is important that they are aware of how to manage money.
Archana Joshi has already started the process. Recently, she opened a bank account for her daughter (nine-year old) with a private bank. Archana says her daughter is yet to learn about the importance of saving, but wants her kid to learn the value of money to spend it carefully.
Banks like ICICI Bank, ING Vysya Bank, HDFC Bank and Kotak Mahindra Bank provide savings bank accounts for children (below 18 years).



Oil India: Attractive valuations; prefer OIL over ONGC :: Kotak Sec, PDF link


Oil India: Attractive valuations; prefer OIL over ONGC
` Favor OIL over ONGC given better risk-reward balance
` Stock discounting a fairly bleak scenario for net crude price realization
` Reiterate BUY with a target price of Rs590
` Fine-tune earnings for FY2013-15E

Go for small-saving options for tax benefits this year : Business Line


Small-saving schemes such as PPF and NSC are the best options today, given their attractive interest rates.
It may not be tax-saving season yet but you should start your investments to avoid choosing sub-optimal options at the end.
While the employee’s provident fund will act as your compulsory saving if you are a salaried individual, the National Savings Certificate (NSC) and Public Provident Fund (PPF), besides the five-year tax-saving deposits remain your options in the fixed income category. Of these, NSC and PPF offer attractive interest rates this year.
Unit linked insurance plans, new pension scheme and tax-saving mutual funds are options in the non-fixed income space. But if your investment is linked to tax savings, you might not want to run the risk of losing capital to save tax. Hence, you should lock into safe options first and then explore the rest for long-term goals.

DishTV: FY2012 annual report analysis: balancing act:: Kotak Sec, PDF link


DishTV: FY2012 annual report analysis: balancing act
` FY2012 annual report analysis: negative FCF, but this is a moot point going
forward
` Balancing act: focus on FCF (given large debt) at the cost of some growth
opportunity

Top Movers : Business Line


Technicals: Lanco Infratech, Deccan Chronicle, SKF India, SRF, Thinksoft, Globus Spirits, Videocon, : Business Line


Aug 26: Pivotals - Reliance Industries, SBI, Tata Steel, Infosys, : Business Line


Sizzling stocks: AstraZeneca Pharma India; Standard Chartered : Business Line


Stock Strategy - Build a bear-call spread on DLF; long on MTNL : Business Line


Sugar has upside till Rs 4,000/quintal : Geojit Comtrade in Business Line


Following a series of healthy fundamental factors, sugar prices in futures and spot market have witnessed an escalation since the first week of June. Prices tested a two-and-a-half-year high last month.
Futures prices on the National Commodities and Derivatives Exchanges (NCDEX) climbed from Rs 2,800 a quintal level in June to Rs 3,600 levels by mid-August, a surge of over 25 per cent. Domestic retail prices, too, mounted to Rs 40 a kg from Rs 30 during this period. However, prices somewhat cooled down after a few measures taken by the Government.

Investment Focus - Dishman Pharma: Buy : Business Line


Mahindra and Mahindra: Buy : Business Line


Hexaware Technologies: Buy : Business Line


INDEX OUTLOOK - Pausing at 18,000 threshold : Business Line