03 September, 2014 12:26 IST
News

Source: rss (03-Sep-14)
Comments  |  Post Comment

In an exclusive interview with Myiris.com, Prashanth Tapse, AVP Research Mehta Equities has provided views on 3 buzzing stocks on Monday, Dec.03, 2012 which are as under:

GMR Infrastructure:

Leading infrastructure developer was in positive action after on reports Axis Bank has served a legal notice to the Maldives government to recover its USD 350 million loan given to GMR, which was backed by government guarantees.  The move follows Maldives government decision to terminate a contract with the GMR Group to operate the Male International airport.

Fundamentally this will have effect on future cash flows and hence the concern remains on the counter, keeping the concern aside at the current market price stocks looks attractive and we are positive on the other projects to perform better than expected earnings. On overall basis we are positive on the counter. Accumulate GMR Infra in the range of Rs 18-20 and hold with a target of 25-28 in 9-12 months.

Shares of the company gained Rs 1, or 5.36%, to settle at Rs 19.65. The total volume of shares traded was 4,609,615 at the BSE.

Mphasis:

Bangalore based IT Mphasis which is the unit of Hewlett-Packard Co, was in action today after the company through one of its subsidiaries in US, signed a definitive agreement to acquire Orlando, Florida, USA based Digital Risk LLC. Digital Risk is one of the largest independent providers of Risk, Compliance and Transaction Management solutions to the United States mortgage market. The acquisition is an all cash deal valued at USD 175 million with an additional earn-out component.

On overall basis we are positive on the development and expect a fair value around Rs 440 in the near term, hence we recommend to Buy.

Shares of the company gained Rs 12.5, or 3.22%, to settle at Rs 400.90. The total volume of shares traded was 76,078 at the BSE.

Mahindra & Mahindra (M&M):

India's leading utility vehicle major has reported better than expected monthly numbers. Mahindra & Mahindra Farm Equipment Sector (FES), a part of the USD 15.9 billion Mahindra Group, announced the total tractor sales (domestic + exports) in November 2012 stood at 20,476 units, as against 17,527 units for the same period last year, a growth of 17%. Domestic sales in November 2012 stood at 19,757 units, as against 16,175 units during November 2011, a growth of 22% over last year. Exports for the month of November 2012 stood at 719 units.

It is also in action on news stating that M&M is looking for global shopping after Ssangyong and Kinetic which are yet to pay their way. Many years back it had failed in its bid to buy luxury car brand Jaguar and Land Rover and now its eyes are on Aston Martin.

On overall basis it would be a concern for M&M which is going to global acquisitions. On overall basis we are positive on the development and hence we recommend investors to hold, with a target Rs 1,000 in near term.

Shares of the company gained Rs 10.85, or 1.15%, to settle at Rs 955.70. The total volume of shares traded was 80,959 at the BSE.

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.


News
Tata Power's arm redeems USD 450 mn fixed to floating rate subordinated notes - 03-Sep-2014 11:42
Suven Life secures three product patents in South Korea, China and Canada - 03-Sep-2014 11:40
IFC approves USD 150 mn investment to Ballarpur - 03-Sep-2014 11:30
Wipro to allot 46,519 equity shares - 03-Sep-2014 11:11
Sydney Trains selects HCL Tech for bespoke systems support services - 03-Sep-2014 10:39
JSTL makes additional profit of Rs 200-250 mn to JCL - 03-Sep-2014 10:32
Jet Airways offers Rs 500 fare on domestic routes - 03-Sep-2014 09:59
NHC Foods ties up with online grocery portal - 03-Sep-2014 09:56
Rubfila Int'l inks pact with Abhisar Buildwell - 03-Sep-2014 09:52
'Buy' Maruti Suzuki; target Rs 2,904: Motilal Oswal - 02-Sep-2014 21:14
Eros Int'l Media in partnership with Home Cable Network - 02-Sep-2014 20:03
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   b3mc7y into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Forums  |   E-mail  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer