Institutional Activity

* SBI Capital Markets is bullish on state-owned Shipping Corporation of India(SCI). From the prevailing market price of Rs 34, the share price is estimated to appreciate by 71 per cent to around Rs 60 over the next one year. On a relative valuations basis, both in terms of price-book value and price-earnings ratio, SCI is one of the cheapest shipping stocks available in the world.

Even if adjusted for the fact that developed markets trade at a higher multiple, SCI trades at a significant discount to its counterparts in developed countries. Moreover, any development on the stake sale of a strategic investor will act as an upside trigger for the stock.

 

* In a company update after the quarterly results, Refco-Sify Securities has reiterated a buy recommendation on Padmalaya Telefilms at Rs 128. It had earlier recommended the stock at Rs 39 in March 2001.

Driven by the success of its maiden film venture Aamdani Atthani Kharcha Rupiya, Padmalaya