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basant
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   Posted: 11/Dec/2006 at 5:03pm |
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Franklin bought about 500,000 shares of Nitco at Rs 243 in a bulk deal a couple of days back..
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chic_1978
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Posted: 11/Dec/2006 at 6:34pm |
Basantjee
This script is highly volatile offlate
Do u think its worth buying in the crash ..... 
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happy & wise investing
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kulman
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Posted: 13/Dec/2006 at 7:41pm |
Investment Arm of Govt of Singapore has also picked up bulk quantity of NITCO @ 237 odd.
I wonder whether Kolkata's Kautilya* is their advisor!?
I sincerely hope that the concerned does not mind this, even if he minds, I won't mind!
Edited by kulman - 13/Dec/2006 at 7:43pm
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Life can only be understood backwards—but it must be lived forwards
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basant
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Posted: 13/Dec/2006 at 8:19pm |
Originally posted by chic_1978
Basantjee
This script is highly volatile offlate
Do u think its worth buying in the crash ..... |
The long term looks fine to me but I think you have this unfortunate co-incidence of getting in higher so please do not chase the price.
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kulman
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Posted: 24/Dec/2006 at 6:47pm |
Here is an excerpt from Karvy's research report dated 22nd Dec '06:
We recently met up with the management of Nitco Tiles, and based on the inputs provided, we are revising downwards our FY07E earnings by 10% to Rs19.5.
We had earlier factored 40% volume growth for vitrified tiles in FY07E, and similarly we expected 38% volume growth in the ceramic tiles division. On the back of lower then expected performance from both the divisions, we are decreasing the volume growth estimates in vitrified tiles segment to 35% from our earlier assumption of 40% and for ceramic tiles division to 32% from our earlier assumption of 38% for FY07E.
However, we are not changing our FY08E numbers. Due to the above mentioned reason, we are decreasing our sales estimates from Rs4,724mn to Rs4,584mn for FY07E. Consequently net profits estimates for FY07E works out to Rs434mn from our earlier estimates of Rs476mn.
On our revised earnings estimate, we expect the company to report an EPS of Rs19.5 for FY07E. We have not changed our FY08E and our price target is based on 8x FY08E EPS of Rs27.7. We thereby maintain our price target of Rs222. At the current market price of Rs248 the stock is trading at 12.7x FY07E and 9.0x FY08E earnings. We rate the stock as Underperformer.
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Actually we should not be discussing this report here, but somehow it's not convincing. It seems someone wants to buy at lower levels and hence such reports are taken out.
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basant
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Posted: 24/Dec/2006 at 8:45pm |
On our revised earnings estimate, we expect the company to report an EPS of Rs19.5 for FY07E. We have not changed our FY08E and our price target is based on 8x FY08E EPS of Rs27.7. We thereby maintain our price target of Rs222. At the current market price of Rs248 the stock is trading at 12.7x FY07E and 9.0x FY08E earnings. We rate the stock as Underperformer.
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The markets shall start discounting Fy 08 very soon. I am not sure what that research guy at Karvy is trying to do. If Fy 08 EPS would remain unchanged then I doubt if the stock would go down first (for Fy07) and then recover sharply "V shaped" (for Fy 08)!!! Yes, these reports are good for quantitative numbers not for buy and sell decisions.
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basant
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Posted: 18/Jan/2007 at 9:15pm |
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I just saw Karvy release a price target of Rs 332 on Nitco Tiles. Now can anyone ask those blessed souls about what changed their opinion from short term sell etc etc to almost a 30% upward price revision.
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PrashantS
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Posted: 18/Jan/2007 at 10:19pm |
But why would they do this to buy before others bought it....  or did nitco discovered soemthign new.....???
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