Kotak reports from 18 Sep :: Kotak Sec, PDF report link

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Company
Karur Vysya Bank: Steady improvement
` We maintain BUY as the bank is addressing critical headwinds
` Tier-1 ratio improves; leverage ratio comfortable but high versus peers
` Greater focus on costs, revenue growth offer comfort


Sector
Metals & Mining: Complexities of the coal conundrum
` Captive blocks - expected step-up improvement may be delayed
` Few fallback options - little headroom for CIL, imports technology, cost
prohibitive
` Jindal Steel and Power most impacted, Coal India the only potential
beneficiary


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LINK
http://www.kotaksecurities.com/pdf/indiadaily/indiadaily18092014or.pdf