fairwealth equity researchsmartinvestor.business-standard.com/bscms/pdf/rcom...prakash c prakash. p...

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Techn Fa TEC CM Price Per Absolute Rel to Ni Sharmila J Sharmila.j +91 09320 Prakash C Prakash.p +91 93133 Bloomb Market Face Va Book V EPS (Rs Dividen 52 week Daily Av Listed A Equity c (Rs Cr) NET SALEEBITDA PAT OPM % NPM % EPS (Rs) no Funda Ca airWeal CHNO FU P: Rs 103 rformance % 1M 3M e 6.4 (1 fty 8.5 (8 Joshi oshi@fairwealt 159211 Chandra Pandey pandey@fairwea 337742 berg Code Cap (Rs bn/USD alue (Rs) Value (Rs) s) nd Yield k H/L (Rs) vg. Vol (mn) At capital (Rs cr) Q3FY11 S 4824.58 1667.72 525.69 34.57 10.90 2.33 all- RCOM lth Equ UNDA CA 3; SL: R M 6M 12M 7.3) (36) (33 .7) (28) (37 th.in y alth.in RCO D bn) 212. 5 244. 11.3 0.80 207. 5.3 NSE 1032 Q3FY10 VAR 5128.97 -5.9 1789.83 -6.8 1164.06 -54.8 34.90 (33bp22.70 (1180bp5.37 -56.6 uity Res ALL – RE Rs 83; M 3.8) 7.6) R t 1 a s OM IN 59/4.67 66 7 % 80/84.50 E/BSE 2.01 % 9MFY11 90 14812.13 80 4958.73 80 1315.23 s) 33.48 s) 8.88 60 6.37 search ELIANCE Target: R INVESTM The country up the laddthe metros o constraints offer an exc Reliance Co enabled cooptic cable Reliance C service supp solely to off cricket matc Valuations (CBD) which with the launcompany is ex the current pFY11E and F target price RReliance Co elecommunica 132 million inc among the top ingle country. E COMM Rs 155; MENT TH y's second bigg er, in an all Inof Delhi, Mumb on 2G in thes ellent 3G user ommunications nnectivity infra systems in Indi Communication plier and TELi fer up video u ches for all cric : With the ap will lead to sch of new 3G xpected to show rice of Rs 103 FY12E EPS of s 155. ommunication ations service cluding over 2 p four Telecom . MUNICAT Upside: HESIS gest mobile ne dia bid for 3G bai and Kolkase circles. This experience. s owns and ope astructure, coia, USA, Europ ns, the countr ibrahma, a key updates in add cket buffs. pproval of Rs avings of Rs 5 services leadi w healthy numb 3, stock is trad Rs 8.5 and Rs is India provider. The 2.5 million ind m companies i TION LT 50%; etwork operato spectrum and ta and is the os advantage perates the worl mprising over pe, Middle Eas ry's biggest in y provider of m dition to repla 8700cr loan b 500 crore annng to the addbers for curren ding at 12.1x s 9.4. We thus a's foremost e Company, w dividual overs n the world b TD 22 Horizon: or by subscribhas won 13 cnly operator w uts it in a unid's largest nex 277,000 kilost and the Asia ntegrated tele mobile solution ays from the IC by China Dev ually in intere ition of more nt and subsequand 10.95x of s recommend t and trul with a custome seas retail cus by number of c 2 nd March 2011 6 Months ers, has moveircles includinwithout capacitque position txt generation IP meters of fibr Pacific region communications, inked a dea CC World Cuelopment Banest payouts ansubscribers th ent quarters. A f our estimate‘BUY’ with th ly integrated er base of ove stomers, rank customers in a 1 s d g y o P e n. n al p k d e At d e d r ks a

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Page 1: FairWealth Equity Researchsmartinvestor.business-standard.com/BSCMS/PDF/rcom...Prakash C Prakash. p +91 93133 Bloomb Market Face Va Book V EPS (Rs Dividen 52 week Daily Av Listed A

 Techn

Fa TEC

CM

Price Per

AbsoluteRel to Ni

Sharmila J Sharmila.j +91 09320 Prakash C Prakash.p +91 93133

Bloomb

Market

Face Va

Book V

EPS (Rs

Dividen

52 week

Daily Av

Listed A Equity c

(Rs Cr)

NET SALES

EBITDA

PAT

OPM %

NPM %

EPS (Rs)

no Funda Ca

airWeal

CHNO FU

P: Rs 103

rformance %

1M 3M

e 6.4 (1fty 8.5

(8

Joshi oshi@fairwealt159211

Chandra Pandeypandey@fairwea337742

berg Code

Cap (Rs bn/USD

alue (Rs)

Value (Rs)

s)

nd Yield

k H/L (Rs)

vg. Vol (mn)

At

capital (Rs cr)

Q3FY11

S 4824.58

1667.72

525.69

34.57

10.90

2.33

all- RCOM

lth Equ

UNDA CA

3; SL: R

M 6M 12M

7.3) (36) (33.7) (28)

(37

th.in

y alth.in

RCO

D bn) 212. 5 244.

11.3 0.80

207.

5.3

NSE

1032

Q3FY10 VAR %

5128.97 -5.9

1789.83 -6.8

1164.06 -54.8

34.90 (33bps

22.70 (1180bps

5.37 -56.6

uity Res

ALL – RE

Rs 83;

M 3.8) 7.6)

Rt1as

OM IN

59/4.67

66

7

%

80/84.50

E/BSE

2.01

% 9MFY11

90 14812.13

80 4958.73

80 1315.23

s) 33.48

s) 8.88

60 6.37

search

ELIANCE

Target: R

INVESTM • The country

up the laddethe metros oconstraints offer an exc

• Reliance Coenabled conoptic cable s

• Reliance C

service suppsolely to offcricket matc

Valuations(CBD) which with the launccompany is expthe current prFY11E and Ftarget price Rs

Reliance Coelecommunica

132 million incamong the topingle country.

E COMM

Rs 155;

MENT TH

y's second bigger, in an all Indof Delhi, Mumbon 2G in thesellent 3G user

ommunicationsnnectivity infrasystems in Indi

Communicationplier and TELiffer up video uches for all cric

: With the appwill lead to sa

ch of new 3G xpected to showrice of Rs 103

FY12E EPS of s 155.

ommunicationations service cluding over 2

p four Telecom.

MUNICAT

Upside:

HESIS

gest mobile nedia bid for 3G bai and Kolkatse circles. Thisexperience.

s owns and opeastructure, comia, USA, Europ

ns, the countryibrahma, a keyupdates in addcket buffs.

pproval of Rs avings of Rs 5services leadi

w healthy numb3, stock is tradRs 8.5 and Rs

s is Indiaprovider. The

2.5 million indm companies i

TION LT

50%;

etwork operatospectrum and

ta and is the ons advantage pu

erates the worlmprising over pe, Middle Eas

ry's biggest iny provider of mdition to replay

8700cr loan b500 crore annung to the addi

bers for currending at 12.1x s 9.4. We thus

a's foremoste Company, wdividual oversn the world b

TD

22

Horizon:

or by subscribed has won 13 cinly operator wuts it in a uniq

ld's largest nex277,000 kilom

st and the Asia

ntegrated telemobile solutionays from the IC

by China Devually in intereition of more s

nt and subsequeand 10.95x of

s recommend

t and trulwith a customeseas retail cus

by number of c

2nd March 2011

6 Months

ers, has movedircles including

without capacityque position to

xt generation IPmeters of fibrPacific region

communicationns, inked a deaCC World Cup

elopment Bankest payouts andsubscribers thent quarters. Af our estimated‘BUY’ with th

ly integrateder base of ovestomers, rankcustomers in a

 

1

s

d g ty o

P e

n.

n al p

k d e

At d e

d r

ks a

Page 2: FairWealth Equity Researchsmartinvestor.business-standard.com/BSCMS/PDF/rcom...Prakash C Prakash. p +91 93133 Bloomb Market Face Va Book V EPS (Rs Dividen 52 week Daily Av Listed A

Techno 

RCOM

R-COM: Ilevel of Rspattern staEvery TRUand this Ctouched thWith the cis TRUNCThe minimto accumuloss again Our interpstrong buy

Funda Call‐

M TECHN

In our view is s 845 to the levarted in the moUNCATED PAC-wave has to he level of Rs 8completion the CATED the up mmum target priulate strategican we will be ab

pretation will oy in the stock w

‐ RCOM 

NICAL OU

making a “TRvel of Rs 131.3onth of June 20ATTERN has th

be lower than84.25 on dated

C-Wave, it memove is alwaysce of the stockally for the minle to get our co

only get wrongwith the Stop L

UTLOOK

RUNCATED ZI35 on 13th Mar009 with the prhree parts that n end price of1st March 201

eans the consols very fast like

k is Rs 690-707nimum investmost price in the

g if the stock woss below Rs 8

IG-ZAG” a rarrch 2009 whichrice of Rs 359.t is A-B-C. Nowf A-wave that i1. lidation phase a spike.

7 within 30-36 ment of 3 years e pull back rally

will close below83 for the targe

rest pattern eveh is called the 1

w the stock is iis Rs 131.35 a

is over. It is ve

months whethewith the STOP

ly.

w Rs 85 on the et of Rs 155 fo

er seen. The co1st part of the T

in the C-wave and in our opin

ery interesting

er we buy at CP LOSS OF BE

weekly basis bor 6 months and

orrection startTRUNCATED

which is usualnion the C-wa

g that after the

CMP or on declELOW Rs 84. If

but the chance d long term tar

ted from 11th JaPATTERN. Th

lly called a conave is complete

completion of

line till Rs 85-If our price goe

are minimal. rget of Rs 232.

Jan 2008 from the 2nd part of th

nsolidated peried with the pr

f correction wh

90. So it is betes below the st

We recommend50.

 

the hat

iod rice

ich

tter top

d a

Page 3: FairWealth Equity Researchsmartinvestor.business-standard.com/BSCMS/PDF/rcom...Prakash C Prakash. p +91 93133 Bloomb Market Face Va Book V EPS (Rs Dividen 52 week Daily Av Listed A

Techno 

BUY

ACCUM

REDUCE

SELL

NOT RA

Name

Sharmila

Prakash P

Preeti Gu

Varun Kh

Suvarna B

Tanisha J

Shakti Ra

Ankit Ma

Jitender

Nidhi Pah

K.K. Mad

Hunny Ta

Pervez Da

Name

Lokeshh G

Archana B

Rajan Bh

Funda Call‐

MULATE

E

ATED

Joshi

Pandey

upta

hanna

Binjola

Jolly

ajpal

anuja

hwa

daan

arika

anish

Gowda

Bhui

atia

‐ RCOM 

The

The

The

The

The

Des

Head

AVP

Sr. R

Rese

Rese

Rese

Rese

Rese

Rese

Rese

Head

Sr. T

Sr. T

stock's total retu

stock's total retu

stock's total retu

stock's total retu

Analyst has no r

ignation

d-Equity

P- Research & P

Research Analys

earch Analyst

earch Analyst

earch Analyst

earch Analyst

earch Analyst

earch Associate

earch Associate

d-Technical

Technical Analy

Technical Analy

Designation

Senior Manager

Trader

Dealer

Stoc

urn is expected to

urn is expected to

urn is expected to

urn is expected to

recommendation

Fundament

PMS

st

Technical

st

st

Instit

r

ck Ratings 

o exceed 15% ov

o be within 10-1

o be within 0-10

o give negative r

n on the stock un

tal Research T

Ema

sharm

prak

preet

varu

suva

tanis

shak

ankit

jiten

nidh

l Research Te

kam

hunn

perv

tutional Desk

ver the next 12 m

15% over the nex

0% over the next

returns over the

nder review

Team

ail ID

mila.joshi@fairw

kash.pandey@fai

ti.gupta@fairwe

un.khanna@fairw

arna.binjola@fai

sha.jolly@fairwe

kti.rajpal@fairwe

t.manuja@fairw

nder@fairwealth

hi.pahwa@fairwe

eam

al.madan@fairw

ny.tarika@fairw

vez.danish@fairw

Email ID

lokeshh.g@fa

archana.bhui

rajan.bhatia@

months

xt 12 months

t 12 months

next 12 months

wealth.in

irwealth.in

ealth.in

wealth.in

rwealth.in

ealth.in

ealth.in

wealth.in

.in

ealth.in

wealth.in

ealth.in

wealth.in

fairwealth.in

@fairwealth.in

@faairwealth.in

 

Page 4: FairWealth Equity Researchsmartinvestor.business-standard.com/BSCMS/PDF/rcom...Prakash C Prakash. p +91 93133 Bloomb Market Face Va Book V EPS (Rs Dividen 52 week Daily Av Listed A

Techno 

DisclaimerThis publicinformationFairwealth decision takavailable tpublishing positions in

FAIH.OPhoWeb FAIUniSam400Ph:

 DelhTow32214011BangbesiH.J.H4030

Funda Call‐

r: cation has been sn contained therSecurities Ltd dken based on theto investors wheany individual n

n securities refer

IRWEALTHO.: Plot No. 6one: 0124-30bsite: www.F

IRWEALTHt No,12,2ndF

machar Marg001, 022-307200

hi: UG‐3, Somwer, First Floor18508   Kol19500‐02‐03 glore, Karnatdes Lal BungHouse, Opp IG04461, 62636

‐ RCOM 

solely prepared rein has been obdoes not bear anye same. Further Fen they are regnames with its rrred herein and m

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H INSTITUTFloor, Sonawg, Opp BSE,

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