Monte Carlo priced attractively; subscribe to IPO: Hem Securities

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Subscribe to Shemaroo Entertainment IPO: Hem Securities

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Subscribe to Shemaroo Entertainment IPO: Hem Securities

Hem Securities' report on Shemaroo Entertainment IPO The Company is bringing the issue at price band of Rs 155-170 per share which will turn into p/e multiple of 15-17 at post issue FY’14 eps of Rs 10.13. Company with its presence in various distribution platforms such as television, home entertainment, digital New Media and other media have a diverse Content Library, which is growing continuously with the addition of new releases as well as through catalogue acquisitions. Also, Co’s recent initiatives as an official channel partner for Google Inc.’s You Tube is infusing optimism in growth prospects of company. Hence we recommend subscribe the issue, says the research firm. Company was founded on October 29, 1962, in Mumbai, as a book circulating library. It is an established integrated media content house in India with activities across content acquisition, value addition to content and content distribution. In 1979, company set up India's first video rental business and thereafter in 1987, company forayed into distribution of content through the home video segment in the video home system (“VHS”) format. O ver the years, company has successfully adapted to changing content consumption patterns by expanding into content aggregation and distribution for broadcasting on television platforms. Company is continuing the expansion into New Media platforms.

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Buy Alembic Pharmaceuticals Ltd:: HEM sec

Alembic Pharma continues to maintain its market share of 1.62%
owing to its strong distribution reach, strong field force and
product launches. It has four brands in the list of top 300 brands
of industry i.e. ‘Azithral’, ‘Roxid’, ‘Althrocin’ and ‘Wikoryl’.

Berger Paints India Ltd:: Target Price Rs.190.00 ::Hem Sec

Berger Paints India Ltd. (BPIL) is one of the India’s foremost
paint companies, currently ranked as second largest on the basis
of consolidated sales turnover in Indian paint industry. It enjoys
about 19 percent share of the over Rs.21,000 crore of the Indian
paint industry.

Eicher Motors Ltd : BUY : Hem Secrities

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Eicher Motors Limited, incorporated in 1982, is the flagship
company of the Eicher Group in India and a leading player in the
Indian automobile industry. Its 50-50 joint venture with the Volvo
group, VE Commercial Vehicles Limited, designs, manufactures
and markets reliable, fuel-efficient commercial vehicles of high
quality and modern technology, engineering components and
provides engineering design solutions. Eicher Motors
manufactures and markets the iconic Royal Enfield motorcycles.
The company has registered strong numbers for the quarter
ending December 2011. The sales moved up 27% to Rs. 15766.40
million for the December 2011 quarter as compared to Rs.
12435.10 million during the year-ago period. Operating profit
too jumped about 28% in Q4CY11 at Rs. 1538.40 million. EML
has witnessed sharp growth across all segments coupled with
increasing market gains. A comparatively good net profit
growth of 55.74% to Rs. 854.40 million was reported for the
Q4CY11 compared to Rs. 548.60 million of previous same
quarter.
In Q4 the industry grew by around 10.6% and Eicher has
outperformed the industry by a good margin; so for the year it
grew at 26.6% over 2010 and for Q4 it grew by 25% so it has
beaten the industry by 15% and that has resulted in market
share gains.
EML’s management look forward to another year of profitable
growth with up gradation of its existing product range, capacity
expansion and increasing its market reach.
Valuation
With leadership position in premium segment motorcycles and
leisure biking, strong distribution channels, robust volume growth
and high realizations and increasing market presence; Eicher Motors
Ltd. growth prospects looks promising. We believe Eicher Motors is
trading at an attractive valuation at 15.68x and 12.07x of FY12EPS of
Rs.134.78 and FY13EPS of Rs.174.98. We initiate a ‘BUY’ on the stock
with a target price of Rs.2600 (appreciation of about 23%) with the
medium to long term investment horizon.

Subscribe or not to Punjab & Sind Bank IPO? Hem Research IPO note

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Bank Snapshot
Punjab & Sind Bank is a GoI undertaking, incorporated in June 1908 in Amritsar. Bank was one of the six banks nationalized by  the GoI in April 1980, and
today, it is one of 19 nationalized banks in India. In the annual Business TodayKPMG survey of Best Banks in India 2008, it  was ranked number one on the list
of ‘Small  Sized Best Banks in India’ (i.e. banks with a then balance sheet size of
less than ` 24,000 crore).

Hem Sec: Buy Shri Lakshmi Cotsyn Ltd.

Expansion on Drive: SLCL plans to increase the capacity of
fusible interlining division to 25 mn mtrs. From 12.5 mn mtrs and
venturing into manufacturing of blackout fabrics, IRR fabric, flex
fabrics and carbon fabrics with a total estimated cost of Rs.482 Crores.
The company also planning to set up spinning unit with one lakh
spindles and 5000 rotars at the cost of 300 Crore approx. by installing
refurbishing plant. Furthermore SLC also expands its Denim Fabric
manufacturing capacity from 20 mmpa to 40 mmpa and Sheeting
manufacturing capacity from 12 mmpa to 30 mmpa with a total cost
of project of Rs. 510 Crore.
Leading Player in Industry: Shri Lakshmi has positioned itself
as an integrated multi product and multi market player covering
almost all the activities of textile value chain. Shri Lakshmi’s expertise
in technical textiles and defence products will help it in getting orders
from defence and paramilitary forces. SLCL is having largest product
line among all the textile manufacturers in India.
Decent Quarterly Performance: SLCL has posted decent
results for Q4FY10. The revenues of the company have gone up from
Rs.330.62 crore in Q4FY09 to Rs.423.87 crore in Q4FY10 showing an
increase of 28.20%. The operating profits also increased by 21.62%
from Rs 41.44 crore same quarter last year to Rs.50.40 crore in
Q4FY10. The net profit of the company increased from Rs. 19.27 crore
in Q4FY09 to Rs.23.08 crore in Q4FY10 showing a growth of 19.77%.
The EPS of the company rose from Rs.9.65 in the same quarter last
year to Rs.11.56 in Q4FY10, Rs.45.91.
Valuation
At the CMP of Rs 157.15, the stock is trading at a consolidated PE of
4.58x and 3.55x its FY11E and FY12E EPS of Rs 34.29 and Rs 44.20,
respectively. Since the stock offers good opportunity, we initiate a
‘BUY’ signal on the stock with a target price of INR 230.00 in medium
to long term investment horizon expecting an appreciation of about
46%.

Hem Sec: IPO advice: Gallantt Ispat Ltd. - Avoid

The objects of the Issue are :
1) To part finance the integrated steel plant consisting of the following
modules
• Sponge Iron Plant with a capacity of 99,000 MTPA
• M.S Billets with a capacity of 1, 62, 380 MTPA
• Re-Rolled Products with a capacity of 1, 67, 400 MTPA
• Captive Power Plant with a generating capacity of 16 MW
2) To part finance the Flour Mill with a capacity of 1, 80,000 MTPA.
3) Listing of securities on Stock Exchanges
Valuation
The company is bringing the issue at Rs 50 per share. Company has
incurred losses in last few years. As Company has commenced
commercial productions for Mild steel billets, Re-Rolled products
(TMT bars) in May 2009 and wheat flour products in March 2009 only ,
hence company has very limited track record history . Also, Company
is solely dependent on the markets in Uttar Pradesh for the sale of all
of its products that is sponge iron, mild steel billets, re-rolled products
(TMT bars) and wheat flour products which exposes the company to
risk of business concentration.
Hence looking after all above, we recommend investors to “Avoid“
the issue.