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Investment rationale: Capacity expansion to trigger growth: Currently the company has three manufacturing plants having a total capacity of around 9 lakh litres per day. The company is now setting up a new manufacturing facility in Haryana/Punjab, at a capex of around Rs152cr, which will increase the total capacity by around 50%. Going fo..

Outlook and Valuation: We have valued MEPs projects using the free cash flow to equity holders (FCFE), applying a 14% discount rate. Considering (1) toll rate hike across Mumbai 5 Entry points project, (2) regular churn of new shorter duration projects, and (3) 5 projects getting completed by September 2016, we arrived at a consolidated F..

Company background: Adlabs Entertainment Ltd (AEL) is promoted by Manmohan Shetty and Thrill Park Ltd. AEL owns and operates Imagica – The Theme Park, which is one of the upcoming theme parks in India. It features a diverse variety of rides and attractions of international standards, food and beverages (F&B) outlets, and retail and me..

Jul 02nd 2013

Hindustan Copper

Government of India is divesting 37,119,152 shares (4.01% of equity capital) in Hindustan Copper Ltd. (HCL). It has set a floor price of Rs70 for the issue. HCL is the only vertically integrated copper producer in India. However, at the OFS price of Rs70, the stock is available at a valuation of 21.0x PE and 11.9x EV/EBITDA based on FY201..

Jun 12th 2013

MMTC Ltd

Government of India is divesting 9,33,12,000 shares (9.33% stake) in MMTC. It has set a floor price of `60 (72% discount to CMP) for the OFS. We recommend investors to AVOID subscribing to shares due to expensive valuation. MMTC is a trading company with a Five Star Export House status. However, at the current price, the stock is trading ..