[Investors Please Listen] Cement majors post impressive growth in August 09 dispatch numbers

Cement companies reported impressive dispatch growth for August. Shree Cement and Jaypee posted stellar yoy dispatch growth of 29.7% and 43% driven hectic construction activity in Delhi and Northern UP. Capacity addition of these two companies helped them capitalise on growth momentum. 

AV Birla Group companies Grasim and Ultratech witnessed high dispatch growth on the back of capacity additions. Grasim Registered growth of 43.1% yoy on account of capacity additions and low base (last August couple of cement mills for Grasim where shutdown. Ultratech posted total dispatches growth of 8.1% (cement dispatches up 21.2%, Clinker volumes down 40.8%). However we note that the month of August Ultratech has registered total Dispatches of 1.5 mt as compared to 1.2 mt in July 2009.  Ultratech in July had undertaken periodic maintenance for 4-5 of its cement mills. 

Ambuja Cement registered dispatch growth of 15.3% for the month while ACC registered growth of mere 7.1% yoy.

Cumulatively the top 6 producers have registered growth of 20%, regaining momentum lost in July (top 6 players growth at 15%).

We have been positive on the sector on the back of strong dispatch growth, uptick in prices and delay in capacity addition. We remain positive on the sector with ACC, Ultratech and Shree as our top pick in the sector.

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[Investors Please Listen] Final Subscription Figure of GLOBUS SPIRITS LIMITED IPO

GLOBUS SPIRITS LIMITED			02.09.2009
			5:00 PM
Issue Size - Shares		7,500,000
Table : Figures on  Day 3 - 2nd Sept,2009 only at 100 (Upper Band)
Category	# of shares available for allocation	Demand  (shares)	Category Subscription (x)
QIB	3,725,000	3,199,770	0.86
Retail	2,607,500	2,476,460	0.95
HNI	1,117,500	4,784,060	4.28
Employees	50,000	48,160	0.96
Total	7,500,000	10,508,450	1.40
No of applications	7322

 

 

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[Investors Please Listen] L&T Finance Ltd - Provisional Collection Figures as on End of Day 02-09-09

Please find below mentioned the provisional collection figures of L&T Finance Ltd as on End of Day -02-09-09.


QIB        :        594.17 Crs

HNI        :       917.21 Crs

Retail     :        289.38Crs

Total      :     1800.76 Crs


Total Appl :       53144
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[Investors Please Listen] Auto – August 2009 volume update

        Maruti Suzuki India Ltd (MSIL)

Total sales increased by 41.6% YoY to 84,808 units, above our expectations.

Domestic sales grew by 29.3% YoY to 69,961 units, in line with expectations.

Export volumes increased by 156.2% YoY to 14,847 units, above expectations.

TVS Motor Company Ltd

Total sales were up by 11.0% YoY to 126,842 units, above our expectations.

Motorcycle sales declined by 2.3% YoY to 51,127 units

Other two-wheeler sales up by 22.1% YoY to 75,715 units

Export sales were down by 35.0% YoY to 11,747 units.

Hero Honda Motors Ltd

Total sales increased by 35.9% YoY to 415,137 units, above our expectations.

Mahindra & Mahindra ltd

Total UV sales increased by 41.8% YoY to 16,631 units, above our expectations.

Three wheeler sales declined by 15.4% YoY to 3,652

Total tractor sales increased by 1.6% YoY to 10,594 units

Tata Motors Ltd (TML)

Total sales increased by 14.3% YoY to 49,810 units.

M&HCVs sales increased by 9.6% YoY to 11,118 units.

LCVs sales increased by 42.5% YoY to 18,664 units.

Car sales increased by 20.8% YoY  to 14,755 units ( includies 351 units of Fiat). TML sold 2,501 units of Nano in August 09.

Total domestic sales declined by 21.4% YoY to 47,126 units.

Export sales declined by 43.8% YoY to 2,684 units.

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[Investors Please Listen] IPO Update: Oil India Limited Price Band Rs 950 to Rs 1,050, Starting on 7thSept–10thSept, Call: 0-9818269396

Oil India Limited

Sector                          Oil Exploration and Production

Transaction                   Domestic Public Issue of shares – 100% Book Building

Issue Size Public           Issue of 2,64,49,982 shares of Rs 10 each

(Net Issue 11% of the fully diluted post issue capital)

IPO Dates                     7th September 2009 – 10th September 2009

Price Band                    Rs 950 to Rs 1,050

95 times on the lower end and 105 times on the higher end

Bid Lot 6 equity shares and in multiples of 6

IPO Grading                  CRISIL 4/5 – Above Fundamentals

Exchanges                    The Bombay Stock Exchange Limited (BSE),

The National Stock Exchange of India Limited (NSE),

 

The second largest national oil and gas company in India as measured by total proved plus probable oil and

natural gas reserves and production.

- Oil India Ltd for their operational efficiency and financial strength have been accorded a "Mini Ratna Category

I" status since 1997 by the GoI.

- They have the ability to provide various exploration and production-related services to the oil and gas industry,

both domestically and internationally, including pipeline construction, pipeline consultancy services, drilling and

well work -over services, research and development services and logging services.

- Onshore exploration is their forte with a concentration in Assam. It has emergent experience in offshore and

deep-water fields and has participated in consortiums for the same

- From fiscal 2007 through June 30, 2009, they made 11 small to medium size discoveries (defined as those

discoveries with an estimated proved plus probable reserves size of less than 30 million barrels of oil and oil

equivalent gas), in addition to 2 major discoveries (defined as those discoveries with an estimated proved plus

probable reserves size of over 30 million barrels of oil and oil equivalent gas.)

- As of June 30, 2009:

�� They produce crude oil and natural gas on an independent basis in 18 onshore fields under 19

corresponding production licenses, referred to as "Petroleum Mining Leases"

�� A total of 424 wells were in production in their independent blocks, 377 of which related to crude oil

production and 47 of which related to natural gas production.

- Growth in operating income between 2004-05 and 2008-09 at a CAGR of 17.3% fuelled by increasing crude oil

prices

- Crude Oil and Natural gas accounted for 88% of their revenues for the year ended 2008-09 and LPG, crude oil

transportation and unallocated accounted for 12% of their revenues.

- Low gearing levels and healthy cash flows benefit the company in their capital expenditure and growth plans.

 

 

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