Stock Market Today

The success story of BKT, begun in 1995 when it entered into production of cross ply off-highway tyres, With the help of persistent & intensive market research coupled with ever expanding production capabilities, BKT has made its mark in the niche segments like Agricultural, Construction, Industrial, Earthmover, ATV (All Terrain Vehicle) and Turf care applications.

BKT is continuously developing its production base and has expanded its product range significantly. With three manufacturing plants and one In-house Hi-tech Mould-manufacturing facility at different locations in India, BKT is very well equipped to feed the ever-growing demand of its worldwide customers. 4th Tyre plant a Greenfield project is already underway.

Expanding capacities to meet emerging opportunities:

BIL has earmarked capex of Rs14bn for the next three years for capacity expansion through 1) setting up a greenfield plant at Gujarat with the capacity of 250T/day and 2) increasing the capacity of Aurangabad facility to 105T/day from 85T/day currently. These expansions will come on stream over the next couple of years and will place BIL in a better position to service strong demand growth expected in US and Europe.

Attractive valuations in the light of better fundamentals:

FY10 was an exceptional year for BIL with a 24% OPM and three-fold jump in PAT. We believe BIL will revert to its historic average OPM of 19-20%. The company is likely to deliver a 23.7% revenue CAGR over FY10-12. With superior return ratios, a healthy balance sheet (D/E of 0.7x) and 17% PAT growth in FY12, we find the stock attractively valued at EV/EBIDTA of 5.2x and P/E of 5.9x on FY12 estimates. We recommend a BUY with a target price of Rs913.

Jaypee Infratech

Jaypee Infratech Ltd has posted a net profit of Rs 3785.10 million for the quarter ended December 31, 2010 as compared to Rs 3885.30 million for the quarter ended December 31, 2009. Total Income has increased from Rs5053.80 million for the quarter ended December 31, 2009 to Rs 7564.30 million for the quarter ended December 31, 2010.

Jindal Steel & Power

The Jindal Steel & Power Ltd has posted a net profit of Rs 9511.00 million for the quarter ended December 31, 2010 as compared to Rs 8743.50 million for the quarter ended December 31, 2009. Total Income has increased from Rs27074.40 million for the quarter ended December 31, 2009 to Rs 31827.00 million for the quarter ended December 31, 2010.

Asian Paints

Asian paints has posted a net profit attributable to shareholders of Rs 2203.30 million for the quarter ended December 31, 2010 as compared to Rs 1985.80 million for the quarter ended December 31, 2009. Total Income has increased from Rs 16366.90 million for the quarter ended December 31, 2009 to Rs21189.70 million for the quarter ended December 31, 2010.

Century Textiles & Industries

Century Textiles has posted a net profit for the period of Rs 213.60 million for the quarter ended December 31, 2010 as compared to Rs 596.40 million for the quarter ended December 31, 2009. Total Income has increased from Rs 10980.00 million for the quarter ended December 31, 2009 to Rs 11674.00 million for the quarter ended December 31, 2010.

Simplex Castings Ltd was incorporated as a partnership firm in 1970 for manufacturing grey iron castings. It was converted into Pvt Ltd entity and 1980 and company went public in 1993 Simplex Castings is engaged in production of Heavy Engineering Castings in different grades for all industrial segments including Steel plants, Power plants, Sugar industry, Chemical, Oil, Cement, Defense, Railways, Mines etc. It has 2 manufacturing units, each in Bhilai and Urla. Bhilai factory has installed capacity of 28,000 tonnes for producing Grey Iron casting in single piece weighing upto 45 tonnes. Urla factory is engaged in production of Special Steel castings in single piece weighing upto 25 tonnes. SCL has strong presence in export market as well. Its major customers in domestic market include :- Indian Railways, NTPC, SAIL, HEC, BHEL, Essar, Atomic Energy etc. In international market, its customers include giants like Kawasaki,  Hyundai etc

FINANCIAL PERFORMANCE :- Simplex Castings has extremely steady track-record with consistent profits and dividend payouts For 2009-10, although its turnover declined by around Rs 9 crores, NET Profit went up by more than 15%. EPS stood at 17.80 and stock is available at 4.60xFY10 EPS of  Rs 8.80 in half year ended Sept 2010. It hopes to end FY11 with sales of 185 crores and NET Profit of 11.75 crores, translating

Rs 8.80 in half year ended Sept 2010. It hopes to end FY11 with sales of 185 crores and NET Profit of 11.75 crores, translatinginto EPS of Rs 19.65 Stock is trading at 4.17xFY11E Eps. Considering that Simplex is in business of manufacturing specialised castingsfor industrial/engg use and has consistent track-record, such valuations are very low. Simplex deserves much better valuations. Even if Simplex castings gets very modest PE Ratio of 7, share price, based upon FY11E earnings, should be Rs 160/. Share price has almost bottomed out and is a good case bottom-fishing. Investors can expect/reap more than 50% appreciation in next 3-6 months if markets dont slide more.

New Zealand beat Pakistan by nine-wicket in the first one-day cricket match at Wellington today. Batting first after winning the toss, Pakistan were all out for 124 in 37.3 overs. Only Misbah-ul-Haq produced an innings of substance for Pakistan, reaching 50 before he was bowled by Southee.

In reply, New Zealand reached the target in just 17.2 overs. Jesse Ryder opened up New Zealand’s innings, hitting 55 runs in only 34 balls. Twenty-two-year-old Tim Southee, who ripped apart Pakistan’s top order, claimed five-wicket for 33.

Rajasthan Anti-Terrorist Squad has taken in its custody Swami Aseemanand, accused in the 2007 Ajmer Dargah attack case. He was produced today before Ajmer Judicial Magistrate-I Vikram Singh who remanded him to the ATS custody. Additional Superintendent of Police – ATS, Satyendra Singh said thay will interrogate him and will produce him in the court tomorrow. 3 people were killed in the Dargah blast.

Assemanand, a member of the right-wing Hindu group Abhinav Bharat, is also an accused in the Samjhauta Express train blast in Haryana’s Panipat district in 2007, that had left had left 68 people dead. He is also an accused in the Mecca Masjid blast in Hyderabad that left nine persons dead and his name had also come up during the probe in Malegaon blast of 2008. He was arrested by the CBI on November 19 last year.

The Chief Judicial Magistrate of Ajmer had issued a production warrant against Aseemanand on January 18 and the ATS has now brought him from the custody of National Investigation Agency in Panchkula, Haryana. A Panchkula court had earlier on January 15 recorded the statement of Aseemanand in connection with the Samjhauta case.

Lieutenant General P.K. Rath has been severely reprimanded by an army court for his involvement in 71-acre Sukna land scam case. The General Court Martial today sentenced him loss of two years of seniority besides 15 years of loss of service for pension purposes. The serving officer was court martialled yesterday.

Lt. Gen. Rath, the then commander of the army’s 33 Corps, had given a no objection certificate to a Siliguri-based realtor to build an educational institute on an army land adjacent to the Corps headquarters in North Bengal without any permission from his seniors.This violated an army decision not to allow any civilian construction in that region. The other two charges relate to giving army approval to a trust to start the institute and violating military discipline.

AIR correspondent reports,the two-year loss of seniorty would mean that the three-star officer who has one year of service left, will now become two years juniour to his batch mates.

Prime Minister Dr Manmohan Singh today honoured 23 children, including two posthumously, with Bravery Awards.

Speaking on the occasion, the PM said acts of courage were a source of inspiration to everybody. He said the whole country was proud of the them and with such brave children, the future of the country was secure.

Referring to Kumari Champa Kanwar and Kumari Shruti Lodhi who were conferred the awards posthumously , Dr Singh said their sacrifice would become an example of bravery . He said that would give strength to others to emulate.

Singh also made a made a special mention of a girl from West Bengal, Sunita Mumur, who stood up against the atrocities being committed by her community. He also spoke about 7-year-old boy from Rajasthan Shrawan Kumar who saved two children from fire.

The Prime Minister also lauded the efforts of Indian Council of Child Welfare for its work.

This year, the prestigious ‘Geeta Chopra Award’ has been conferred on 14-year-old Kumari Jismi P M of Kerala, who displayed outstanding courage by saving two children from drowning.

The ‘Sanjay Chopra award’ has been conferred on 11-year-old Master Priyanshu Joshi of Uttarakhand who saved his sister from a leopard.

The children will participate in the Republic Day parade.

The profit of State Bank of India has gone up by 13.45 per cent. The Bank has posted a profit of 3,806 crore rupees for the quarter ended December, 2010. An impressive jump in net interest income has pushed up its profit.

The net interest income of the Bank increased by 40 per cent to over 12,306 crore rupees during the quarter , as against over 8,700 crore in the same quarter a year ago.

Greece plans to build the world’s largest solar park over depleted coal mines in the northern city of Kozani. Prime Minister George Papandreou announced this in Athens.
Estimated to cost 600 million euros and with a capacity of 200 megawatts generation, the project’s electricity output will be greater than any other photovoltaic park operational in the world so far.
The state-run Public Power Corporation said it would organise an international tender to find a strategic investor for the solar park, which is to be built over 520 hectares of disused company mines.
Papandreou said the project would serve as a model for the development of renewable energy and will boost employment amid a deep economic crisis.

Former British Prime Minister Tony Blair appeared for a second time before a London inquiry into the Iraq war. He expressed his disappointment over the loss of life but not on the strong commitment he gave to disarming Saddam Hussein.
Blair said he assured support to the former US President George Bush in the Iraq.
Tony Blair who left office in 2007 and is now a West Asia peace envoy, also issued a warning about the growing threat posed by Iran. He suggested force may be necessary to confront Iran’s nuclear program.