Tuesday 23 Jul '13Hexaware Technologies’ strong guidance of a 3.5-5.5% q-o-q revenue growth in 3QFY13F (vs our expectation of 3-4%) and similar growth in Q4 increases confidence in our revenue growth estimates
Saturday 22 Jun '13Over the past few months, much has been made out of L&T’s strong bid pipeline in West Asia, including an $8-billion Doha metro order, an $8-billion Riyadh metro order, an $11-billion Etihad Rail project and several road and infrastructure orders.
Friday 14 Jun '13Sun Pharmaceuticals Industries announced settlement of the Protonix litigation and agreed to pay $550 million. We believe Sun Pharma earned $400–500 million from the product. This is higher than $300 million that we had factored into our target price and $107 million provisioned for by the company in 2Q13.
Saturday 01 Jun '13Mphasis’ direct channel disappointed with a 5% q-o-q decline (on an organic dollar revenue basis) in Q2. This, combined with management’s guidance of continued declines in the HP business in the near-term, is likely to lead to an organic revenue decline of 4% over FY12-14F.
Thursday 16 May '13We upgrade Havells India to ‘buy’ (from ‘neutral’) and increase the target price to R802 (R571 earlier) as we increase our FY14/FY15f ebitda by ~11%. We roll forward our sum-of-the-parts-based target price to FY14f from H1FY14f
Saturday 27 Apr '13We maintain our ‘reduce’ rating on Idea Cellular with a target price of R60 as regulatory uncertainty remains significant and we believe valuations of FY14f P/E 24x continue to remain expensive despite strong fourth quarter results from the company.