7 February 2007
Indiabulls IPO is a first. Out of the million ideas that ended with a dotcom after their names, Indiabulls is the only one so far to have ended up with an IPO. And it definitely needs the Rs 42-50 crore that it is trying to raise. Other brokerages with heavy emphasis on electronic trading all have a pedigree: ICICI Direct has ICICI, Sharekhan has SSKI and HDFC Securities has HDFC Bank. Indiabulls does not.Having said that, IndiaBulls has done well for itself recently. It had an EPS of Rs 2.24 for 2003-04 compared to 0.66 in 2002-03 and 0.61 the year before. The boom in the earnings of the intermediaries is riding on the back of a spectacular performance on the bourses in 2003-04. The P/E, thus, looks a little reasonable at 7-8.5. In a normal year this valuation would look stretched.There is competition driving the margins down too. Apart from traditional brokers, there is E*Trade, Charles Schwab's e-broking outfit, looking at the Indian market. But increased competition that will bring more investors to India may not be such a bad thing after all. The test for Indiabulls' young CEO Sameer Gehlot and CFO Rajeev Rattan is how they stand up to the competition and ride the market.
indiabulls also in the race of bag filmes one must have bag filmes and indiabulls in his Portfolio we have targ of5o of bag filmes and600 of indiabulls in short peroid of time R.com @ CROMPGRAVE soon steel the show in capital market of india heavy fund buying seen in indiabulls rcom and in crompgraves we are also very much bullish in Ashokaley one must have delivery of all.
by erectusplus at 16:20:00 |
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