[image: PPFAS] <http://www.ppfas.com/> *1st June 2009* *Inside this
report...*
Timing the Markets (vs) Time in the
Market<#1219a4d40d4cebb5_1219a3e06910e94c_pv>
Trigger facility in Mutual Fund <#1219a4d40d4cebb5_1219a3e06910e94c_mf>
NIIT Technologies Limited: Q4FY09 Result
Update<#1219a4d40d4cebb5_1219a3e06910e94c_niit>
Castrol India Limited: Q1CY09 Result
Update<#1219a4d40d4cebb5_1219a3e06910e94c_castrol>
*Timing the Markets (vs) Time in the Market* Contributor: Arpit
Ranka | [email protected]
The ability of Mr. Market to contradict perception held by market
participants, who themselves constitute it, continues to be a great mystery.
Ever since the emergence of financial markets, this elusive trait of Mr.
Market has continuously caught investors on the wrong foot and, in the
process, cost them billions.
This has been made possible by the fact that crowd, which is much influenced
by fear and greed, continues to make the same mistake again and again. Also,
the fact that the brunt dealt by such blows to one generation is lost on the
younger generation, does not help the cause.
more...<http://www.ppfas.com/research/ereports/week/010609/index.php#pv>
*Trigger facility in Mutual Fund* Ashish Shah | [email protected]
*What are triggers?*
A trigger is an actionable facility that allows you to specify an exit
target (linked to value or time) at the time of investing in a scheme, or at
a subsequent date. The moment this target is achieved, the trigger gets
activated.
Signing up for the trigger facility doesn't mean you are locked into the
scheme till the terms specified by you are met. A trigger is just a
supplement. You can exit any time you wish to, regardless of whether your
target has been met or not. Besides, you can cancel the trigger or specify
new terms while you are invested in the scheme.
more...<http://www.ppfas.com/research/ereports/week/010609/index.php#mf>
*NIIT Technologies Limited: Q4FY09 Result Update* Raunak Onkar |
[email protected]
NIIT Tech reported a subdued Q4 with consolidated revenues down 9% from Q3
at Rs.2270 Mn from Rs.2485 Mn. A Rs.221 Mn loss on account of
crystallization of effective hedges was realized this quarter. Operating
margins for the quarter remain flat at ~18% (incl. hedging losses) & ~25%
(excl. hedging losses). The company reported a 57% growth in Q4 PAT at
Rs.263 Mn recovering from a steep drop in Q3FY09 at Rs.167 mn. In Q4 the
impact on the topline is registered due to three main factors, Currency,
Hedging & Volume; which contributed a negative 3%, 1% & 4% respectively.
On an annual basis the consolidated revenues grew only by 4% to Rs.9799 Mn
from Rs.9415 Mn on account of Rs.542 Mn forex related loss reported for the
year. Operating margins for the year were 17% (incl. Hedging losses) & 21%
(excl. Hedging losses). PAT for FY09 declined by 15% to Rs.1148 Mn from
Rs.1352.61 Mn in FY08.
more...<http://www.ppfas.com/research/ereports/week/010609/index.php#niit>
*Castrol India Limited: Q1CY09 Result Update* Anuj Anandwala |
[email protected]
*Maintains Profitability despite Economic Slowdown!*
Castrol India Ltd., (CIL) has reported good set of numbers considering the
acutely adverse economic environment impacting the automotive and industrial
segment over the last 3-4months. With the slow down affecting almost all
sectors the results achieved by the company were pretty satisfying. Despite
the volume pressure, CIL reported a marginal 3% increase in top line and 5%
in bottom line for Q1CY09 compared to corresponding previous year. The
growth in top line can be attributed to product price hikes taken in CY08.
In spite of significantly reduced volumes, the company has maintained
profits and improved cash flows. The decline in volumes was on account of
reduced commercial transportation and manufacturing activity, key drivers
for the lubricant consumption.
For the quarter ended Mar'09, operating margins for CIL have fallen by 74
bps to 22.8% from 23.5% Mar'08. It resulted in 1% decline in operating
profits to Rs. 1,510Mn from Rs. 1,518Mn. In terms of cost as % of sales, raw
material cost increased by 75 bps to 54%, staff cost was up by 101 bps to
5.5% from 4.4%, advertisement cost remained stable at 4%. On the other hand
carriage, insurance & freight expense declined by 47 bps to 3.2% and other
expenditure also fell 53 bps to 10.9% from 11.4% in the corresponding
quarter last year.
more...<http://www.ppfas.com/research/ereports/week/010609/index.php#castrol>
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Financial Advisory Services Limited*
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Fort, Mumbai - 400 001 INDIA.
Tel : 91 22 2284 6555 Fax : 91 22 2284 6553
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Regards,
Anuj Anandwala
Analyst I Investment Research
Parag Parikh Financial Advisory Services Ltd.
Tel: 022 2284 6555
URL: www.ppfas.com
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