IT Sector Equity Research Report January 14‚ 2011 IT-Tier 1 IT Services THEMATIC Humpty Dumpty sat on a wall… Analyst contact Ankur Rudra‚ CFA Tel: +91 22 3043 3211 ankurrudra@ambitcapital.com Tier 1 Indian IT firms have outperformed the Sensex by 14% over the last twelve months and are trading at ~20x FY12 P/E. Such share prices imply long term revenue growth rates >20% over FY11-16 and sustained margin performance. Our reverse DCF analysis indicates that this will be tough to
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9-296-077 REV: APRIL 27‚ 2006 KENNETH A. FROOT ANDRÉ F. PEROLD Global Equity Markets: The Case of Royal Dutch and Shell In early January 1996‚ Ms. Joanne Partridge‚ Director of Research at High Street Global Advisors (“High Street”)‚ a Boston-based global investment management organization‚ was studying the price behavior of the shares of Royal Dutch Petroleum and Shell Transport and Trading. It seemed that Royal Dutch and Shell should trade in fixed proportions since they represented equivalent
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Reflective Review – M3.11 Building the Team By Nigel Harris Developing and maintaining trust at work Building and maintaining trust in the workplace in important to help me meet the aim and objectives set as a team. Working as a team is important in allowing the work we face to be completed to a high quality standard using effective and efficient ways to providing value for money. Consistent behaviour: When managers behave consistently‚ it enables employees to identify the boundaries
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competition or star power. Emotional benefits: pride for having a premier football team from your city/country. Self-expressive benefits: Being part of a community; being able to associate themselves with winners. 2) Using the Aaker model of brand equity‚ do an analysis of the Real
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Reported PAT | 61‚624 | 74‚184 | 88‚423 | | yoy growth (%) | 23.6 | 20.4 | 19.2 | | EPS (Rs) | 7.9 | 9.4 | 11.2 | | P/E (x) | 42.5 | 35.7 | 29.9 | | Price/Book (x) | 13.9 | 11.9 | 10.4 | | EV/EBITDA (x) | 30.5 | 25.3 | 21.1 | | Debt/Equity (x) | 0 | 0 | 0 | | RoE (%) | 35.5 | 36.1 | 37.1 | | RoCE (%) | 49.1 | 49.7 | 51.1 | | * Revenue grew by ~19% yoy to Rs81.8bn‚ driven by cigarettes ‚ Other-FMCG and agri segments. Cigarette volumes grew by ~3% yoy. * EBIT margins expand
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provided in a primary care settings (Local Government Association‚ 2013); however‚ local government commissioners do not commission General Practises (Royal College of General Practitioners‚2014)‚ hence‚ why the Emergency Department within an Acute Trust is the ideal location for the leaflet to be implemented. Local Authorities will commission sexual health promotion (Public Health England‚ 2015). By approaching the Local Authorities with the idea and plan of the leaflet‚ explaining‚ that the leaflet
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White‚ Yvonne Spanked Children Lose Trust FAM 151‚ H002 The author clearly emphasizes spanking in child rearing is not an appropriate form of discipline. It takes away the bond and trust between parent and child. The article points out that a child’s self-worth and self-esteem will suffer if he or she is subjected to corporal punishment. A child’s behavior is affected in many ways. If a child is spanked‚ they are more likely to have unhealthy relationships when they become adults. They
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Trust is the most important aspect of a positive relationship. Effective communication is the gateway to trust as this is how we share our thoughts‚ opinions and feelings with one another. By making a child feel supported and understood we strengthen the bonds of trust. By always being a good role model of positive communication‚ we pass these skills on for life. Making children feel comfortable and safe in our presence is key to a positive relationship within the classroom. Fear and one way communication
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2009 (No. 24) _______________ PARLIAMENT OF TASMANIA _______________ JOINT SELECT COMMITTEE ON ETHICAL CONDUCT Final Report ‘Public Office is Public Trust’ ______________ Brought up by Mr Wilkinson and presented to the Deputy President of the Legislative Council pursuant to Standing Order 197 (L.C.). ______________ MEMBERS OF THE COMMITTEE Legislative Council Mr Wilkinson (Chair) Mr Hall Mr Martin Ms Thorp House of Assembly Mr Best Mr Llewellyn Mr McKim Mr Rockliff Table
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1. Trust v. Mistrust Children develop a sense of trust that the world is a good safe place when significant caregivers provide reliable care and consistently meet the child’s needs for food‚ warmth‚ comfort and affection. A lack of this type of care leads to the development of a sense of mistrust. |X| Trust Mistrust This first stage of Eriksons theory of Development occurs between birth and one years of age and is the most fundamental stage in life. I have put myself here because I saw how my parents
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