UBS Investment Research
UBS Key Calls - Asia
Closing out AUO, adding LG Display
„ Reiterate bullish view on the LCD panel sector
We continue to believe the LCD sector will bottom in Q410 and start to recover in
H111. Our thesis that panel makers will perform well through the bottom of the
cycle remains intact, and we believe share prices will move ahead of the inflection
point in panel prices. We switch our Key Call from AU Optronics (AUO) to LG
Display since we think LGD has more visible catalysts in the near term to drive the
share price.
„ Catalysts ahead; remain positive on the industry cycle
Sean Kim, our analyst, believes the potential panel order from Sony in 2011 will
allow LG Display to outperform other LCD stocks. The company is also a
beneficiary of growing tablet PC demand, both as the primary supplier to Apple
and as a potential supplier to new entrants with its IPS technology and Apple
experience. For the industry as a whole, we remain comfortable that demand will
recover as long as retail TV prices are on a down-trend, while limited capacity
growth in 1H11 should help the supply-demand balance.
„ 9 live Key Calls
We have nine live Asia Key Calls—Bangkok Bank, CKI, CNBM, ICBC-H, Lanco,
LG Display, OCBC, Shriram Transport Finance, SHKP. All are Buy-rated.
Tuesday, December 1, 2009
Sunday, November 29, 2009
India - Banking & Finance (Concern on lending margin decline overstated): IIFL
India - Banking & Finance (Concern on lending margin decline overstated):
Bank stocks have underperformed recently, presumably on fears that lending margins would decline, driven by: a) the Reserve Bank of India (RBI) Governor’s comment that banks should lower NIM to achieve double-digit and inclusive growth; and b) announcement of deposit rate increases by SBI and BOI without an increase in lending rate. In our view, fears of a margin decline are overdone—increases in lending rates typically trail those in deposit rates, and yesterday’s deposit rate increase without a lending rate increase is not a step towards lowering NIM as suggested by the Governor of RBI, in our view.
Wednesday, September 16, 2009
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Sunday, August 2, 2009
FII & DII trading activity on NSE and BSE as on 07-Dec-2010
| FII trading activity on NSE and BSE on Capital Market Segment | ||||||||||||||||
| The following is combined FII trading data across NSE and BSE collated on the basis of trades executed by FIIs on 07-Dec-2010. | ||||||||||||||||
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| Domestic Institutional Investors trading activity on NSE and BSE on Capital Market Segment | ||||||||||||||||
| The following is combined Domestic Institutional Investors trading data across NSE and BSE collated on the basis of trades executed by Banks, DFIs, Insurance, MFs and New Pension System on 07-Dec-2010. | ||||||||||||||||
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Tuesday, July 14, 2009
FII & DII Turnover (BSE + NSE) 7/12/10
| (Rs. crore) | ||||||
| FII | DII | |||||
| Trade Date | Buy | Sales | Net | Buy | Sales | Net |
| 7/12/10 | 2,914.37 | 3,437.20 | -522.83 | 1,240.84 | 1,668.06 | -427.22 |
| 6/12/10 | 2,724.21 | 2,925.83 | -201.62 | 1,093.20 | 1,407.09 | -313.89 |
| 3/12/10 | 3,204.98 | 2,601.51 | 603.47 | 832.02 | 1,521.68 | -689.66 |
| Dec , 10 | 16,474.50 | 15,717.48 | 757.02 | 5,734.19 | 7,589.85 | -1,855.66 |
| Since 1/1/10 * | 677,367.82 | 613,596.85 | 63,770.97 | 309,457.45 | 332,185.52 | -22,728.07 |
Wednesday, June 10, 2009
NSE, Bulk deals, 07-Dec-2010
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