Daily analyst comments
We are upbeat on the fact that Pharmacy Chain 36.6 has succeeded in restructuring its debts: this event could stimulate short-term investment interest in the company’s stock.
Pharmacy Chain 36,6
We are positive on the rejection of a plan to convert Avtovaz’s debts to banks into shares. The plan, rejected by the government, would have diluted minority shareholdings in the carmaker by several times. Our estimates show, however, that the carmaker will probably need to conduct an additional share issue for Renault, although on a smaller scale, to pay for its production technology.
AvtoVAZ
If Power Machines breaks into the market for low-speed nuclear-power-station turbines, it will help the company to improve its business performance and have a favorable impact on finances. We believe that by 2015, this new business segment will account for as much as 20% of Power Machines’ total revenue.
Siloviye Mashiny
Sberbank’s 10 2009 net profit totaled about RUB 15 billion, up 65% from 9M 2009, which, we believe, was thanks to the bank’s high income from core activities and a downturn in provision charges. The company plans to close FY 2009 with a almost RUB 20 billion net profit, while keeping provisions above 10% of the loan portfolio.
Sberbank