Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
08 July, 2015 01:33 IST
Kotak Sec maintains `Reduce` on Alstom T&D
Source: IRIS Exclusive | 16 Nov, 2012, 02.19PM
Comments  |  Post Comment

Kotak Securities has maintained 'Reduce' on Alstom T&D India with target price of Rs 187 as against the current market price (CMP) of Rs 203 in its report dated Nov. 16, 2012.

The company's profit missed our expectations by a wide mark. The company clarified that revenues have slowed down as clients especially private utilities are facing issues like land acquisition and cash crunch. The company is responding by controlling its despatches to such projects lest having cash stuck in slow- moving projects.

While order intake has been healthy, the business outlook is yet to improve materially. Pricing continues to be under pressure.

The company had announced an open offer for the balance 26% public share outstanding at a price of Rs 187. Due to certain technicalities, the tendering date has been postponed. Due to the ongoing open offer proceedings, the stock may remain range-bound and move depending upon the announcements related to the open offer.

It value the company at 27x FY14 in line to the trading multiples for Siemens and ABB. It maintained Reduce on the stock.

Click here to view full report

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.



Alstom T&D India Limited   (Q,N,C,F)*

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
CG to supply electrical motors to Lafarge - 07-Jul-2015 17:09
CMC consolidated Q1 profit falls 3.67% - 07-Jul-2015 17:02
United Spirits exits United Breweries, sells 3.2% stake to Heineken - 07-Jul-2015 16:23
United Spirits exits United Breweries, sells 3.2% stake to Heineken - 07-Jul-2015 16:23
CARE upgrades bank facilities of KEI Industries to 'BBB+' - 07-Jul-2015 15:38
Unitech Int'l bags export order for plastic media blast - 07-Jul-2015 14:57
ICICI Bank upgrades mobile banking app, offers more than 100 services - 07-Jul-2015 14:15
Vascon Engineers bags EPC order worth Rs 286 mn - 07-Jul-2015 14:00
FIIs reduces stake in Gateway Distriparks in June quarter - 07-Jul-2015 13:07
Power Grid to invest Rs 22.47 bn in Green Energy Corridors - 07-Jul-2015 12:24
Essar Oil shares surge after NSE delisting nod - 07-Jul-2015 12:24
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer