Indian Equity Research and Investment Strategy
Genus Power Infrastructure Ltd (GPIL) has bought a 6 mega watt (MW) power generation plant from Genus Power Products Ltd (GPPL). Subsequently, the shareholders of GPPL would receive one fully paid-up share of GPIL for every 60 fully paid-up shares of GPPL currently held by them.
The 6MW plant of GPPL is based on biomass technology and the power generated can be sold as well as used for captive purposes. (more…)
Infosys Technologies has informed us that The Boeing Company has awarded it a 2007 boeing performance excellence award (BPEA) for achieving a gold level of performance over the 12-month period. Infosys Technologies was one of fewer than 50 companies out of approximately 10,000 Boeing worldwide suppliers to receive a gold level performance award.
Royal Orchid Hotels has acquired 50% stake in Cosmos Premises. Cosmos Premises is owner of the property i.e. the Galaxy Resorts having 65 rooms-beach resorts, situated in village Utorda in the State of Goa.
Pyramid Saimira Theatres (PSTL) operates in all categories – Film exhibition – multiplexes, cineplexes and single screens; Film distribution and also in content production for TV / films. Headquartered in Chennai, it commands 44 multiplexes with 113 screens, and 590 single screens. It has now expanded its (film exhibition) business to Malaysia, China and the US. Its film exhibition model is asset-light (all the theatres are rented not owned). PSTL has recently ventured into film production and TV production by launching a subsidiary, Pyramid Saimira Productions Limited (PSPL). PSTL uses an end-to-end Digital Cinema Solution in few of its theatres, and this is set to revolutionize the distribution and exhibition system in the Indian film industry. (more…)
Citigroup research has cut the target price estimate for Jaiprakash Associates. After a 50%-plus correction, the stock is close to stress-case value of Rs196. Indeed this is a very bold and conservative move because Citi values JP Associates on business valuations and not private-equity valuations, which is evident from the fact that we value (1) Jaypee Power Ventures at a ~60% discount to P/E valuations, and (2) Jaypee Infratech at a ~37% discount to P/E valuations. (more…)