Roongta Rising Stock Pvt. Ltd

MCX: Gold made low 26477 CMP 26480 our Tgt 26470 almost achieved book full profits
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Contents in today’s MORNING INSIGHT
Result Update: IRB Infrastructure Developers Ltd
¾ Revenues of the company for Q4FY13 and full year FY13 reported a growth of 11.2% and 17.2% YoY respectively. This was led by excellent growth in EPC division and improvement in toll revenues.
¾ EPC business margins continued to surprise on the upside and led to improvement in overall operating margins on yearly basis on a consolidated basis.
¾ Net profit reported a growth of 26% YoY for Q4FY13 and stood better than our estimates led by lower than expected depreciation and tax write back in BOT segment. We expect profit for FY14 to drop sharply due to commissioning of three projects and corresponding increase in depreciation and interest charges.
¾ We tweak our estimates and continue to maintain BUY recommendation on the stock with a price target of Rs 180 (Rs 184 earlier) based on sum of the parts valuations on FY14 estimates

Economy News

4 The Reserve Bank of India (RBI) will shortly come out with its clarifications on issuing licenses for more private sector banks, the Finance Ministry said on Tuesday. (Mint)

4 Congress' plan to pass the food security bill in the Lok Sabha by Thursday, even if Opposition tries to block proceedings, ran into trouble after Agriculture Minister Sharad Pawar insisted on a structured discussion in

the House on the issue. (ET)

4 State-owned power generator NTPC Ltd's plan to spend around Rs 96 Bn to revive its old power plants might help revive the ailing power equipment sector as well. NTPC plans to improve the falling plant load factors (PLFs) of seven power plants that are more than 25 years old. (BS)

4 Settling the issue of fixing coal prices, a Group of Ministers (GoM) has decided that the proposed regulator will not determine fuel rates, a job that will continue to be vested with the producers. The regulator, however, will be empowered to resolve disputes including disputes arising out of fuel supply agreements (FSAs). (ET)