NEYVELI LIGNITE
The power sector is one of the biggest growing sector in India. The Government of India has set a capacity addition target of 78,000 MW by 2012. According to the estimates of Government of India, investments of more than 100 billion dollars would be required in power generation in the next ten years.
India has set itself an ambitious target of more than doubling per-capita electricity consumption by FY 2011 and the Ministry of Power projects an investment need of 9,000 billion Indian Rupees (INR), or US$ 200 billion to make it possible. The investment plan aims to expand the power infrastructure base for economic growth while making electricity accessible to all.
The government of India has approved the company’s plan outlay of Rs.14133.58 Crores for various projects during the X five year plan period.
There will a summit named ‘4th Thermal Power India 2010’ will offer organizations with business interests in the region to leverage the opportunity and play a major role in one of the world's fastest developing power markets.
TECHNICAL OVERVIEW
*All the thick candles in the charts show that there are heavy volumes in that particular candle.
On the second chart we can see that the retracement from the level of 275.70 to 44.50 shows that prices are moving in the range of 38.2% - 50% retracement levels. It is expected to touch the levels of 185-190 which is the 61.8% of the retracement level. The prices are moving above the 55 week EMA which acts as a major support. This shows that the prices are still moving on a positive side. The trend line is also acting as a major support for the prices. The horizontal line is also acting as a strong support where the prices are consolidating which can also be said a bullish signal.
Our recommendation to buy between the levels of 145-150 or you can also accumulate from now also, for the targets of 180 and above.
ROLTA INDIA LIMITED
BRIEF INFORMATION ABOUT THE COMPANY
Rolta is a market leader in providing specialized technology solutions and services for the Geospatial, Defense and Homeland Security and Engineering sectors. Rolta is a global company and offers a full complement of solutions to companies around the world. In the area of Enterprise IT, Rolta offers a focused set of services in eSecurity, Enterprise IT Management, ERP Consulting and Deployment as well as a wide range of Database and Business Intelligence solutions.
Rolta has launched Geospatial Fusion, a unique solution that enables fusion of various disparate geospatial and non-spatial databases and software applications for generating real-time reports and immediate decision-making.
Rolta continues to win orders in India, North America, the Middle East and Africa for Enterprise Geospatial Information Solutions. It continues to maintain its leadership in the Indian Defense Geospatial market.
FINANCIAL OVERVIEW
Rolta India's Q1 consolidated PAT was up at Rs 56.1 crore as against Rs 51 crore quarter-on-quarter (adjusted). Q1 last quarter includes a Rs 25 crore gain on account of FCCB buyback.
The company has an enabling resolution to raise up to USD 250 million. "There is no immediate plan to raise the money."
Rolta’s Cons Revenue for Q1 FY-10 at Rs. 350.49 Cr against Rs. 332.70 Cr in Q4 FY-09, registering a Q-o-Q growth of 5.3%.
Consolidated EBITDA for Q1 FY-10 at Rs. 125.48 Cr against Rs. 112.48 Cr in Q4 FY-09, registering a Q-o-Q growth of 11.6%.
TECHNICAL OVERVIEW
On the daily charts a bullish pattern (cup & handle) can be seen through which targets of 250-260 are likely to be achievable. Buying can be confirmed through a recent breakout. The prices seem to have made their bottoms at the levels of 155-150.
According to the retracement from 395.63 to 42.05, it can be seen that prices are moving on its 38.2%. The above levels which are 210 which is on the 50% retrace level and 250 which is on the 61.8% retracement level are considered as their resistance levels and also the targets .
The 55 day EMA which is on the 170 levels and 200 day EMA which is on the levels of 150 can act as a good support levels for this stock.
WE ARE PRETTY BULLISH ON ROLTA.IT COULD DEFINITELY GO UP ANOTHER 15-20% IN THE NEAR-TERM.
