Indian Stock Market

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Orchid Chemicals.PDF Orchid Chemicals Buy Research Report June 2010
Must read report if you are planning to buy or sell this share.
I personally think this is a stock to invest.

Orchid pharma and karalex deal as reported in Economictimes.

The Chennai-based generic pharma major, Orchid Chemicals & Pharmaceuticals, today said it has entered into an agreement to acquire US-based Karalex Pharma through an all-cash deal for an undisclosed amount.

The acquisition is likely to be completed this month, subject to customary closing conditions.

“With this acquisition, Orchid has established its presence in the generic sales and marketing area. This acquisition will provide a strong commercial US-based sales capability to Orchid, paving the way for synergistic returns from our upcoming and long-term strategic generic pharmaceuticals pipeline comprising key first-to-file and Paragraph-IV products,” Orchid Chemicals Managing Director, K Raghavendra Rao, told reporters here.

This acquisition will help the Indian generic drug-maker to directly sell its generic products in the US market. It will add USD 20-million to the company’s revenue in the current fiscal year,” Rao said.

This move also endows Orchid, for the first time, with a complete end-to-end coverage capability of the entire generic pharmaceutical business cycle from product development to product sales and would enable the company to internalise value.

Reliance Industries is fast becoming the new GE of India. It is on an acquisition spree. It has lately planned to pick 40% in Pioneer Natural resources.

About Pioneer Natural Resources:

Pioneer Natural Resources is a Texas based shale gas explorer having 3,00,000 acres of shale gas exploration.

Pioneer’s Eagle Ford Shale play has a gross resource potential of over 11 trillion cubic feet of gas.

Apple iPhone 4 India

Apple has just unveiled its new hand the next generation iPhone 4 in India. Its looking spectacular .

Specs

Specifications

1. Multithreaded third-party apps. We know that Pandora will run in the background in OS4 but what about Skype and TomTom? Will limited multithreaded apps appeal to most? probably, but power user may be disappointed.

2. Over-The-Air (OTA). This is a big one and perhaps one of my biggest complaints about iPhone OS. The iPhone has four radios (GSM, 3G, WiFi and Bluetooth) yet you have to plug it in with and expensive, proprietary cable if you want to sync anything from your Mac — unless you want to pay $100 per year for MobileMe. This is insane and Apple needs to deliver on OTA everything (including OS updates) or be relegated to becoming the Betamax of mobile technology. No more “Connect to iTunes.”

3. Voice Input. I want voice input everywhere there’s a text entry field, just like in Android. I want the option to speak to search, text, tweet, email, whatever. And I don’t want to use 12 different third party applications to do it. It’s a safety issue too, speaking is safer than typing because you don’t have to look at the screen to do it.

4. Free navigation. It’s time for Apple to bury the hatchet with Google and license its Google Maps Navigation technology. I don’t want to have to pay extra for navigation on the iPhone, it’s free on Android. Apple’s crippled Maps application is an embarrasment compared to Maps on Android.

5. Google apps. Apple should also bury the hatchet with Google so that we can get free app goodness like Google Voice, Translate, Goggles, Shopper and Skymap. Seriously now, if Apple allows Skype why don’t they allow Google Voice?

6. Widgets. Give us the option to put more stuff on the iPhone desktop. Folders, while desperately needed, aren’t enough. And a bubble on an icon with the number of unread alerts doesn’t count. I want full blown widgets for news, stocks, weather, twitter, whatever. And then kill Dashboard on OS X and add real (persistent) widgets there too.

7. Menubar/Statuses/Alerts. Android’s menubar is more Apple-like than Apple’s. How did that happen? Apple needs to update the iPhone menubar so that it works more like Mac OS X. Put alerts up there and make it accessible to users – like Android.

8. Hotspot. Tethering isn’t enough. And as I said in #2 above, cables are so 1999. Apple pioneered with the first Airport base station, then pretty much ceded the market to Linksys and DLink. How about resuscitating the “Airport” brand for a mobile hotspot app that leapfrogs the likes of PalmOS and Android?

9. Video Calls. By all accounts, the new iPhone will have a front-facing camera. Apple needs to release seamless, high-quality video calls and chats. Give us iChat on the iPhone, make it dead simple and high quality. I’ve seen the competition and there’s a huge opportunity for Apple to do it right.

iPhone 4 Features

3.5 inch IPS Touchscreen with 960×649 pixels
326 pixels per inch, they are calling it retina display
800:1 contrast ratio
Dual Cameras for video chat
5 Megapixel main Camera with LED Flash with 5X digital zoom – supports 720p video capture
Apple A4 chip
Dual Mics for Noise Cancellation
802.11n Wi-Fi
Accelerometer
GPS
Compass and Gyrometer for Six axis control
16 GB and 32 GB Storage
3GTalktime: 7 Hrs, 300 Hours Standby time, Wi-Fi Browsing: 10 Hours
40 Hours Music
Microsim
At 9.3 mm Steve is calling it the thinnest smartphone on planet.

iPhone 4 Price

iPhone 4 16GB is priced at $199 with contract

iPhone 4 32 GB is priced at $299 with contract

iPhone 4 price without contract will be somewhere around 600$ for the $199 iphone 4.

iPhone 4 Release Date

iPhone 4 preorders are starting from June 15th 2010, at first it will be shipped to 5 countries only and in July 18 more countries will get their iPhone 4 shipments.

June 24 is the actual release date of iPhone 4.

No price increase for Diesel and Petrol.

Government has decided against increasing the price of petrol and diesel

Hindalco has announced a net profit of Rs.3926 crores this year. This increase is due to increased profit from Novelis and previous derivative transaction .

Hindalco had purchased Novelis at 6 billion USD In 2007.

Australian subsidiary Aditya Birlaa Minerals too reported a net profit after a loss last fiscal. This may be attributed to improving conditions for the metal space.

Hindalco expects this trend to continue in next quarter.

Buy Venus Remedies – Pharma Sector – Small cap pick

About Venus Remedies:

Currently the stock is trading at Rs.265 per share. I expect the price to be in the range of Rs.350-400 in 1 year.

Chandigarh-based Venus Remedies is a major producer of oncological and cephalosporine injectable products. The company has de-risked its business model by having presence in the high growth therapeutic segments such as anti-infective, oncology, cardiology and neurology.

The company follows the strategy of forging marketing tie-ups with companies in India and abroad for specialty products. The company is also looking at contract manufacturing opportunities. It has filed many international patents for sophisticated formulations of anti-biotics and oncological therapeutics.

Last week, Venus launched world’s first once-a-day painkiller injectable in India. The company hopes to capture 10% market share in the early years of its launch and is already in talks with global pharma companies for out-licensing the product.

In March 2010, the company got Indian patent for one of its product Sulbactomax and has also filed patent for this product in another 50 countries including the US, Europe, Australia, Japan and Latin American countries.

Growth Strategy :

Registrations approved in 19 semi-regulated markets in 2008-09 are expected to drive the company’s prospects and profitability. Its launch of innovative products in India and other international geographies (through marketing alliances) will strengthen revenues.

Contract manufacturing opportunities with leading global brands are expected to yield attractive results. In-licensing initiatives are likely to reinforce our performance.

Financials :

The company’s net sales have grown at a compound annual growth rate (CAGR) of 55% over the past five years to Rs 310 crore in FY10. The net profits have grown at a CAGR of 62% to Rs 45 crore in FY10. The company has undergone a capex of Rs 200 crore over the past five years.

It has logged a strong performance for the first quarter ended March 2010. With 27% increase in net sales and 31% increase in net profit, the company has logged an improved performance sequentially.

Company Valuations:

The company has outperformed the Sensex and is currently valued at little over than its annual turnover. The stock is trading at a price-to-earnings multiple of 5.

These relatively lower valuations indicate the scope for the company’s stock to appreciate further as company continues to deliver growth. Investors looking at bottom-fishing in the small-cap space can consider this scrip.

Source: Economictimes.com

SAP36634.pdf Indian Steel Industry Research Report

ICICI BANK has posted a net profit of Rs.1000 crores this quarter. This is a good performance from the bank . HDFC too reported a similar performance gaining 30+% this quarter.

ICICI Bank post a 35% rise in net profit for the fourth quarter ending March 31,2010 on back of higher other income and lower provisions.

The bank posted a net profit of Rs 1,005.57 crore in the fourth quarter of FY10 as against Rs 743.76 crore in the corresponding quarter of the previous fiscal. The results were in line with analysts expectations.

For the first time since the global financial crisis, the bank has handed out bonuses and double digit salary hikes which bank officials refused to elaborate on. The consolidated net profit of the bank saw a rise of 31% to Rs. 4,670 crore for the year ended March 31, 2010.

The bank’s board has proposed a higher dividend of Rs 12 per share as against Rs 11 per share last year. For the first time in three quarters, the bank’s outstanding loans saw a marginal rise. Advances grew to Rs 1,81,206 crore as against Rs 179,269 crore at the end of December and Rs 218,311 crore the previous March.

ICICI Bank MD and CEO Chanda Kochhar said: “Advances have seen a growth of 12% in the quarter. The growth has been mainly on domestic book and more on corporate side of the balance sheet. We have seen a loan growth in housing car, commercial vehicle loans, project loans and trade finance books.”

She added, “We clearly plan to start growing the loan book and have already started the growth in the fourth quarter. Domestic loans and advances will grow while on international loans we will see how the scenario pans out.” Unsecured loans- personal loans and credit cards- is now at 4.9% of the loan book.

The bank will be selective in both personal loans and credit cards business. The share of retail loans have gone down again.

“Retail loans are now at 43% as against 49% last year. Corporate loans were at 18% as against 12% while international loans remained steady at 25%. The rest are SME and agriculture loans,” she said adding that retail will be around the same percentage for this financial year.

The net interest margin of the bank remained steady at 2.6%. The other income of the bank saw a rise of 13% to Rs 189.84 crore. The fee income rose by 13% to Rs 1521 crore. The other income also included some stake sales.

Bank officials however did not divulge numbers adding that they were not strategic in nature. The current and savings accounts ratio increased to 41.7% “We started the year at 28.7% We will now look at a minimum level of around 40%.,” said Kochhar.

The bank is also seeing its incremental bad loans coming down. The provision coverage ratio of the bank at the end of the year was at 59.4% as against 50% at the end of the year. The bank chief said that the RBI has allowed the bank to increase its coverage ratio to 70% by the end of this fiscal.

Most of the bank’s subsidiaries have shown a rise in profit. ICICI Prudential Life Insurance Company has reported a net profit of Rs 258 crore for the first time in its 10-year history. ICICI Lombard General Insurance posted a sharp rise in its net profit to Rs 144 crore from Rs. 24 crore.

ICICI Prudential Asset Management Company’s profit after tax increased to Rs. 128 crore from Rs. 70 lakhs while ICICI Securities’ net profit rose to Rs. 123 crore from Rs. 4 crore. ICICI Venture posted a fall in net profit to Rs 50 crore from Rs 140 crore last year.

Sun.pdf SELL SUN PHARMA

CITIBANK report on Sun pharmaceuticals

Good One. Have a glance.

Economic Times article

Apple Inc said on Wednesday it would delay for one month the international launch of its popular iPad tablet computer, due to stronger-than-expected first-week sales in the United States.

Shares of Apple rose about 1 percent in premarket trading after the company said it sold more than 500,000 units of the touch-screen device in week after the April 3 launch. It expects sales will “likely continue to exceed our supply over the next several weeks.”

Apple said it will announce international pricing and begin taking online orders on May 10.

Apple shares, which have risen about 15 percent so far this year, climbed to $245.24 in premarket trade on Wednesday.

BGR Ener

BGR Energy Systems has signed a memorandum of understanding (MoU) on Friday with the Orissa Government for setting up a 1,320 MW (2 x 660) power plant at Bhapur in Nayagarh district, Orissa, at an investment of about Rs. 6,287 crore.

The MoU was signed by B.G. Raghupathy, Chairman and Managing Director, BGR Energy Systems, and P. K. Jena, Energy Secretary, Orissa Government, according to a company release.

The Orissa Government is entitled to purchase 12-14 per cent of power generated from the plant at variable cost as determined by the Orissa Electricity Regulatory Commission. BGR Energy Special Purpose Company would be free to sell the remaining power.

The plant is scheduled to be commissioned in 54 months and expected to provide direct employment to more-than 1,200 persons.

Recently, electrical projects division of BGR Energy Systems has secured a turnkey contract from Power Grid Corporation of India, for fibre optic cabling package in lieu of the existing ULDC microwave links in northern region.

The contract is valued at Rs. 99.41 crore and it will be completed over 22 months.

FREE Portfolio Manager

Reliance Big Entertainment Ltd. said Monday it has agreed to acquire a 50% stake in British video game developer Codemasters.

Reliance Big didn’t disclose the amount it intends to pay for the stake buy. Codemasters had annual revenue in excess of $150 million, the Indian entertainment company said, without giving further details.

Reliance Big is part of the diversified Anil Dhirubhai Ambani Group.