Edelweisss Capital Q3FY08 Results

Edelweiss Capital Ltd has announced the following Unaudited results for the quarter ended December 31, 2007:

The Company has posted a net profit after tax of Rs 41.50 million for the quarter ended December 31, 2007 as compared to Rs 67.10 million for the quarter ended December 31, 2006. Total Income has increased from Rs 191.00 million for the quarter ended December 31, 2006 to Rs 461.90 million for the quarter ended December 31, 2007.

The Consolidated results are as follows:

The Group has posted a net profit after minority interests of Rs 924.30 million for the quarter ended December 31, 2007 as compared to Rs 309.20 million for the quarter ended December 31, 2006. Total Income has increased from Rs 980.70 million for the quarter ended December 31, 2006 to Rs 3235.30 million for the quarter ended December 31, 2007.

Jyothy, eClerx, Burnpur, BGR Energy, Edelweiss Grey Market

Jyothy Lab. 690 195 to 200


Burnpur Cement Ltd. 12 4 to 5


eClerx Services 270 to 315 90 to 100


BGR Energy 425 to 480 400 to 425


Edelweiss 825 775 to 800


Renaissance Jewellery 150 25 to 30


Kolte Patil 145 60 to 70


Kaushalya Infra 60 12 to 14


SVPCL 42 - 3 to -5

Weekly Grey Market Premium Update

Reliance Power commands a premium of 65

Mundra Port & Sez has a grey market premium of 540 on a issue price of 440

Empee Distilleries grey market premium of Rs 40

Edelweiss Capital has a grey market premium to double its issue price of 725 to 825. It has a premium of 825 to 850

Varun Ind. at a issue price of 60 has premium of 50 to 55

Religare Enterprises at issue price of 185 has grey market premium of 340 to 350

Barak Valley Cement has a good premium of Rs 25 on a issue price of Rs 42

Renaissance Jewellery commands a modest premium of Rs 40

Kolte Patil will double on listing according to grey market sources - it has a premium of Rs 135

Kaushalya Infra has a modest premium of Rs 9

Jyothi Laboratories issue price is 620 to 690 and premium is 400 to 415

Weekly Grey Market Premium Update

Premium is the price above the IPO Price

Reliance Power is trading at Rs 52 premium

Mundra Port and SEZ is trading at more than double its offer price at Rs 460 premium

Empee Distilleries at around Rs 150

Edelweiss is roaring high after Religare's success at a premium of Rs 700

Religare is trading at a whopping Rs 350 premium

Barak Valley Cement is at Rs 22

Allied Computers is a dark horse at Rs 16 premium

Religare, Mundra, Varun Grey Market Updates

The Grey Market is hotting up even with the SEBI P-Notes Clampdown

Here are some of the rates that we are hearing

Mundra Port and SEZ - 390

Reliance Power - 51

Religare is commanding a whopping 290 premium on a issue price of 185

Barak Valley Cement 20

Empee Distilleries 155

Edelweiss - another broking outfit with a issue price of 825 is quoting at 200 rupees premium

Others are SVPCL - 3, Rathi Bars - 4, Circuit Systems - 6, Allied Computers - 17

Edelweiss - DLF

Edelweiss recommends a ACCUMULATE on DLF

They have a target price of Rs 824

Bidadi project has increased the sum of parts valuation from Rs 755 to Rs 824

Edelweiss - Reliance Industries

Edelweiss recommends ACCUMULATE on Reliance Industries

Edelweiss is positive on the acquisition and believe that the large balance sheet size of RIL will allow it to turnaround Hualon

At INR 1,987, RIL trades at 23.5x and 21.3x FY08E and FY09E EPS respectively. The stock
trades at12% premium to the Edelweiss fair SOP value of INR 1,774.

Edelweiss - Power Grid IPO

Edelweiss recommends SUBSCRIBE on Power GRID IPO

Edelweiss - Nicholas Piramal

Edelweiss has a BUY on Nicholas Piramal.

At the CMP of INR 288, the stock is trading at 21.9x and 16.7x (before R&D de-merger) and 18.4x and 14.1x (post de-merger) their FY08E and FY09E earnings.

Edelweiss - Aurobindo Pharma

Edelweiss has maintianed BUY on Aurobindo Pharma

The stock trades at a P/E of 16.1x and 12.0x on FY08E and FY09E earnings respectively.