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Analysts at IIFL Capital Services recently studied the periods of concentrated FII buying and selling from 2003 onwards and arrived at some surprising conclusions.

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One-offs pertaining to the Citi Bank merger to lead to losses for the quarter.

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The issue is a pure offer for sale of upto 40.06 million shares by its existing shareholders and promoters.

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Recommendation: Buy; Target price: Rs 1220

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Moderation in export realizations should reflect for AIAE too. But given rising RM costs, this would be limited in the near term.

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The company may consider pre-IPO placement, and if done, the issue size will be reduced accordingly.

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Operational parameters likely to perform well

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