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Stock picks for Jan 9, 2013
Marico:
Angel Broking has maintained a neutral rating on Marico . As per the research firm, the demerger of the loss making venture would result in Marico turning into a pure FMCG play enjoying superior return ratios.
"The Board of Directors of Marico has approved the restructuring of businesses, corporate entities and the organization involving a) the demerger of Kaya Skin Care Solutions (Kaya) into a separate company by the name Marico Kaya Enterprises Ltd (MaKE) and b) formation of an unified FMCG business with operations in India and abroad, headed by a single CEO.
SAIL:
Motilal Oswal is bearish on Steel Authority of India (SAIL) and has recommended sell rating on the stock with a target of Rs 59 in its January 7, 2013 research report.
"SAIL seems to have traversed the full circle in the last 10-12 years. At the beginning of the last decade, it had low profitability, high debt and near zero equity value. CWIP/MCap was 40%, though this is no benchmark, as MCap was very small (EV comprised largely of debt). Thereafter, its fortunes turned due to the boom in the sector and complete absence of capex until FY08. From net debt of ~INR140b in FY01, the balance sheet had net cash surplus of INR111b by the end of FY08, which led to massive re-rating and huge stock performance (stock was up >50x in 7 years).
IDFC:
One can buy IDFC with a stop loss of Rs 165, says Rahul Mohindar, Director, viratechindia.com.
Mohindar told CNBC-TV18, " Reliance Infrastructure I don't think we are looking at very serious upsides given the current rally that you have seen. Possibly about Rs 590-600, that's a possibility on the stock. We must not forget the stop loss on this is going to be around Rs 525 mark. So if one is initiating fresh positions it needs to be short-term with that stop."
Tata Steel:
Motilal Oswal is bearish on Tata Steel and has recommended sell rating on the stock with a target of Rs 230 in its January 7, 2013 research report.
"Tata Steel India has recently undergone 2.9mtpa brownfield expansion at Jamshedpur. It is planning 6mtpa greenfield expansion in Odisha in two phases of 3mtpa each. It also has 80% stake in the DSO (Direct shipping ore) project in Canada, with the balance 20% stake owned by New Millennium Iron Corporation (NML). (Tata Steel has 27.4% stake in NML).
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