We believe that the risks developing in Yes Banks Forex Derivative business are manageable and the structural growth potential of the Bank is intact. The Bank is on a high growth trajectory, has embarked on building a strong brand and has an impressive pool of intellectual capital. We expect 66% CAGR in Deposits and Advances and 53% CAGR in EPS over FY2007-10E. We have factored in 15% reduction in EPS estimates for FY2009E and FY2010E taking a conservative view on the Forex Derivatives business and revised our estimated FY2010E ABV downwards from Rs99 to Rs88. At Rs186, the stock is trading at 2.1x our revised FY2010E Adjusted Book Value (ABV) of Rs88. We maintain a Buy on the stock. Read More

Click Here to download the complete Yes Banks research report, company profile, company background, price chart, investment argument by Angel Broking and to view Yes Banks 12 months target price.

For more stock tips, share market information, demat account opening and online share trading help in Mumbai and India Log on to www.angeltrade.com  (top retail broking house in India and Mumbai) or kindly contact sales@angeltrade.com / 022 – 40003630 

Bombay Dyeing has chalked out long-term plans to turn-around its traditional Textile business , curb costs and improve Margins. It has forward-integrated its DMT plant to a PSF plant of 1,65,000 million tonne capacity and has shifted its Home Textile operations from Mumbai to Rajangaon to control operational costs. On the anvil are plans to foray into the Real Estate business also to drive its future revenues. For this, Bombay Dyeing proposes to utilise and capitalise on its historical land bank in Mumbai. We Initiate Coverage on the stock, with a Buy recommendation. Read More

Click Here to download the complete Bombay Dyeing research report, company profile, company background, price chart, investment argument by Angel Broking and to view Bombay Dyeing 12 months target price.

For more stock tips, share market information, demat account opening and online share trading help in Mumbai and India Log on to www.angeltrade.com (top retail broking house in India and Mumbai) or kindly contact sales@angeltrade.com / 022 – 40003630

Jain Irrigation (JISL) has grown its Earnings at a CAGR of 62% over the last three years on the back of strong growth being clocked by its Micro Irrigation, PVC Piping and Food Processing businesses. We believe JISL will maintain this momentum going ahead as well given the governments thrust on Irrigation and Infrastructure Development. We expect JISLs Consolidated Revenues to grow at a healthy CAGR of 43.7% over FY2007-10E, while expansion in OPMs is expected to aid Consolidated PAT to clock CAGR growth of 58.2% over FY2007-10E. We estimate Consolidated OPMs to expand by over 310bp to 17.6% in FY2010E from 14.5% in FY2007. We Initiate Coverage on the stock, with a Buy recommendation. Read More.

Click Here to download the complete Jain Irrigation (JISL)research report, company profile, company background, price chart, investment argument by Angel Broking and to view Jain Irrigation (JISL) 12 months target price.

For more stock tips, share market information, demat account opening and online share trading help in Mumbai and India Log on to www.angeltrade.com (top retail broking house in India and Mumbai) or kindly contact sales@angeltrade.com / 022 – 40003630

JSW Steel is one of the largest steel producers in India with a current capacity of 3.8mtpa and is also one of the largest exporters of galvanized products. We believe that significant capacity expansions, enriched product mix and backward integration initiatives into key inputs like coking coal and iron ore will be the key positives for JSW Steels growth going ahead. We expect JSW Steel to record a 28.9% CAGR in consolidated Bottomline over FY2007-10E. At CMP of Rs 935, on consolidated basis, JSW Steel is trading at an EV/EBIDTA of 4.7x on FY2010 EBIDTA and P/E of 6.8x on FY2010E consolidated fully diluted EPS. The company is trading at 20-30% discount to both its domestic and international peers, which we believe is not justified. We Initiate Coverage on the stock, with a Buy recommendation.

Click Here to download the complete JSW Steel research report, company profile, company background, price chart,  investment argument by Angel Broking and to view JSW Steel 12 months target price.

For more stock tips, share market information, demat account opening and online share trading help in Mumbai and India Log on to www.angeltrade.com  (top retail broking house in India and Mumbai) or kindly contact sales@angeltrade.com / 022 – 40003630

Exide Industries, which is a leader in the domestic Battery Segment with a strong brand image, has a clear growth visibility going ahead. Completion of capacity addition will enable it to enhance exports. We Initiate Coverage on the stock, with a Buy recommendation. We value its stake in ING Vyaya Life Insurance at Rs17 per share at 15x FY2010E New Business Arrived Profit (NBAP) and adjusted valuation of 11x FY2010E Earnings for its core business. Thus, the stock is available at attractive valuations.

Click here to download the complete Exide Industries research report, company profile, company background, investment argument by Angel Broking and to view Exide Industries 12 months target price.

For more stock tips, share market information, demat account opening and online share trading help in Mumbai and India Log on to www.angeltrade.com  (top retail broking house in India and Mumbai) or kindly contact sales@angeltrade.com / 022 – 40003630

For 4QCY2007, Nestle reported a strong Topline growth of 22% yoy to Rs896cr and Bottomline registered a much stronger growth of 50% to Rs94cr. Revenue growth was aided by steady growth in its Net Domestic Sales (up 22% yoy to Rs803cr) and buoyant Exports (up 22% yoy to Rs93cr). For the quarter, Nestles operating margins expanded 115bp to 17.6% driving an EBITDA growth of 30% yoy to Rs158cr. We believe Nestle offers the best opportunity to play out the growing Food Processing theme in India. At the CMP of Rs1,432, the stock is trading at 22x CY2009E Earnings and 13.7x EV/EBITDA. Nestle justifies its premium valuations compared to its peers on account of its global parent support, strong brand recall, excellent Return Ratios and superior EBITDA Margins. We maintain a Buy on the stock.

Click here to download the complete Angel Broking research report of Nestle India including Nestle India 12 months target price.

For more stock tips, share market information and online share trading help in Mumbai and India Log on to www.angeltrade.com  (top retail broking house in India and Mumbai) or kindly contact sales@angeltrade.com / 022 – 40003630

Vesuvius delivered yoy Top-line growth of 16% for 4QCY2007 to Rs90cr. For CY2007, Vesuvius India Topline grew 18% yoy to Rs319cr. For 4QCY2007, Vesuvius clocked a substantial 253% increase in Net Profit to Rs9.9cr (Rs2.8cr). In 4QCY2006, Vesuvius India had extraordinary expenses to the tune of Rs6cr. At the CMP, Vesuvius India stock is trading at 9x CY2009 EPS. We maintain a Buy on the stock.

Click here to download the complete Angel Broking Report of Vesuvius India.

For more stock tips, information and online share trading help in Mumbai and India Log on to www.angeltrade.com  or kindly contact sales@angeltrade.com / 022 – 40003630

At the CMP, Wockhardt Ltd stock is trading at 8.5x CY2008E and 7.4x CY2009E FDEPS, which is at a significant discount to its peers. A substantial part of the discount is on account of the high competitive pressures in the Generic space and dependence of the company on its M&A strategy to scale up its Generic business. Wockhardt Ltd stock is quoting at 4.5x EV/EBDITA CY2009E, which is at a significant discount to its peers, which are trading at 6.5x EV/EBDITA. We believe the stock is available at attractive valuations even after discounting the concerns. Hence, we maintain a Buy on the stock.

Click here for the complete Angel Broking research report on Wockhardt Ltd.

Angel Broking Top Retail Broking House of India.