The Abrasives segment consists of bonded, coated, processed cloth, polymers, power tools and coolants. The operations are carried out through over 10 manufacturing facilities located pan India, Russia and other countries. The Ceramics segment consists of super refractories, industrial ceramics, anticorrosives and bio ceramics. Its user industries include power generation and transmission, coal washers, grain handling, ballistic protection and construction. The Electro minerals segment includes abrasive/refractory grains, micro grits for the photovoltaic industry and captive power generation from hydel power plant. Its product range includes white and brown fused alumina, silicon carbide, fused...
Dilip Buildcon Limited (DBL) is an India-based company engaged in the business of infrastructure facilities on engineering procurement and construction (EPC) basis. The Company undertakes contracts from various government and other parties and special purpose vehicles promoted by the Company. It operates through construction and engineering contracts segment...
H.G. Infra Engineering Ltd. (HGIEL) is an infrastructure construction, development and management company with extensive experience in road projects, including highways, bridges and flyovers. The issue is a combination of fresh and OFS. The company will not receive any proceeds from the OFS. Of the net proceeds, around Rs. 1,156mn would be utilized to prepay and/or repayment of the debts availed by the company. Another, Rs. 900mn would be utilized for the...
IIP grows at 7.1% in December : Indian industrial production measured by the Index of Industrial Production (IIP) for the month of December increased by 7.1%, higher than market expectation of 6%, though it was slowed when compared with November 25-month high output growth of 8.8%. However, the figure was also positively affected by favorable base effect as IIP growth was 2.4% in year ago period disrupted by the demonetization. Manufacturing sector, which accounts for 77.6% of the index, during the month under review rose by 8.4% in Dec (10.7% in Nov) and 16 out of the 23 industry groups in the...
Valuation: We initiated this company on 1st Jan. 2018 at Rs. 810.6, with a target price of Rs. 1,124.9 per share. Anticipating good growth across all the segments and improvement in the profitability, we reiterate our BUY rating on the stock. Key concern would be the continued profitability pressure on the...
Skipper has formed a JV with Metzerplas, a manufacturer of drip Irrigation solutions from Israel, with an eye on a potential Rs. 5,000 mn market opportunity. The company has forayed into manufacturing of solar structures and will carry it...
On our valuation front , at CMP of Rs.359, the company is trading at a P/E multiple of 25.6x which is at discount as compared to the industry P/E of multiple 27.5x and EV/EBIDTA multiple of 13.3x which is at premium as compared to industry EV/EBIDTA of multiple of 11.9x .After considering all these factors and...
Macro economic factors like Logistics sector was accorded the infrastructure status, positive for borrowing and rate of interest for the identified warehousing project and focus of government on reducing the cost of logistic sector. The implementation of e way bill from February will help as permits from different state will not be required thus holding period for goods will reduce all these factors will benefit the company like TCI, Bharat Mala Project which will help the goods to move comfortably across the roadway and help to reduce cost of passenger TCI freight is major revenue contributor with extensive strategically located branches. with implementation of GST and India's Good...
Aster DM Healthcare Ltd. (Aster) is one of the largest private healthcare service providers, having operations in multiple GCC (Cooperation Council for the Arab States of the Gulf) states based on numbers of hospitals and clinics. The issue is a combination of fresh and OFS. The company will not receive any proceeds from the OFS. Net proceeds from the fresh issue would be around Rs. 6,750mn. Of the net proceeds, around Rs. 5,641.6mn, would be utilized to prepay and/or repayment of the...
GVA growth forecast adjusts to 6.6% for FY18: As per the Reserve Bank's Industrial Outlook Survey (IOS), assessment of overall business sentiment in the Indian manufacturing sector improved in Q3FY18. In the service sector, some of the key high frequency indicators are continued showing improvement be it commercial vehicle sales, cargo carried by sea, rail and air, domestic and international air passenger traffic and foreign tourist arrivals. On the other hand, manufacturing and services PMI indicators are also showing expansion. Compared to industrial and services sector, MPC is cautious on agriculture...
