Source: Sharekhan
Recommendation: Buy
Price target: Rs84
Current market price: Rs47

Price target revised to Rs84

Result highlights

1. KEI Industries (KEI) has reported an increase of 24.6% in its revenues to Rs258.5 crore for Q4FY2008. The growth in its sales is in line with our expectations.

2. During the quarter the company made provisioning for mark-to-market losses of Rs3.67 crore on its exposure to foreign currency derivatives made for the purpose of hedging currency and interest rate-related risks.

3. Adjusting for the provisioning, the operating profit grew by 7.9% to Rs27 crore, translating into an operating profit margin (OPM) of 10.5%. Thus, in Q4FY29008 the OPM declined by 160 basis points year on year (yoy). [Read more]

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ESS DEE Aluminium Limited has informed the Stock Exchange that: “ESS DEE Aluminium Limited has been ranked No.1 in the Packaging Sector for the year 2007 based on the ranking of the Top 500 Indian Manufacturing SMBs, initiated by Industry 2.0, a monthly manufacturing technology publication. Shri Sudip Dutta, Chairman & Managing Director of the Company received the Award of being the Top Indian SMB in Packaging Sector for 2007 at the Second “Industry 2.0 SMB Conclave & Awards Night” held on 30 May 2008 at New Delhi”. [Read more]

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Prabhudas Lilladher has maintained buy rating on ESS DEE Aluminium with target price of Rs 689, implying upside potential of 55%, in its May 28, 2008 report.”We expect the company to report 31% CAGR in net sales and 48% CAGR in net profit over FY08-10. We also expect its EBIDTA margin to improve from 27.9% in FY08 to 32.4% in FY10 due to the introduction of new products, capacity expansion and entry into FMCG segment. At the CMP of Rs443, the stock trades at 16.8x FY08 EPS of Rs26.4, 9.0x FY09E EPS of Rs49.4 and 7.7x FY10E EPS of Rs57.4. [Read more]

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The application for the home loan is a very simple procedure. Most banks offer a home banking facility wherein the bank’s executive visits you at a convenient time, at your home or office. He liaises between you and the bank, also suggesting schemes, added benefits, interesting insurance policies and educating you on the best rate of interest. However certain homework is essential about the interest rate offered by other banks for a comparative analysis and also enquiring about hidden charges in processing fees and penal interest.

Here’s a ready reckoner for the list of documents to avail home loans.

FOR SALARIED APPLICANTS

• Photographs of recent nature. The number of photos specified by the bank.
• Identification with photographs in the form of Election Identity Card/ PAN card/ valid driving license/ valid passport.
• Form 16 with current employer. In case of change of job (in an assessment year) then it is necessary to submit Form 16 from both the employers.
• Exact proof of address is done with Passport/ telephone bill/ electricity bill/ agreement of house rent in case of rental residence.
• The salary slips of the past three or six months has to be submitted to the bank in original, which features the salary statement for the past six months.
• The initial cheque for the processing fee favoring the bank has to be submitted for processing the loan. [Read more]

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