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Equity Research

Are Investment in Indian REITs par with StockMarket for Capital Gains ?

August 11, 20142 min read

The newly elected most competitive Indian government under #NarendraModi has announced tax pass through
for REITs in the recently presented Union Budget F2015. This should facilitate REIT formation in the months ahead, we believe. We have presented below the highlights of the tax pass through.

Trading of listed REIT units would attract the same levy of STT and would enjoy the same tax benefits with respect to capital gains as equity shares of a company – This should put investments in the units of REITs at par with the stock investments in terms of capital gains tax, we believe (more…)

Equity Research

Have You Made Money in Wealth Destroyer ULIPs ?

July 30, 20142 min read

Not now but when ULIPs were selling Hot since then we have advised our readers to keep away from Weapon of Wealth Destroyer – Unit Linked Insurance Plans.

Now with the Markets bouncing bank greedy IL-literate financial advisers (more…)

Equity Research

Astra Microwave – Darling of Defence Sector Punters

July 8, 20142 min read

Astra Microwave Products Ltd. (AMPL) is engaged in designing and manufacturing of high value added Radio Frequency (RF) and microwave super components and sub-systems finding applications in Defence, Space and Civil communication systems.

According to media reports, the department of industrial policy & promotion (DIPP) has prepared a draft Cabinet note that proposes to allow up to 100% foreign direct investment (FDI) in defence as part of its plan to boost domestic manufacturing activities, markets are hopeful of better days for defence equipment makers. By permitting FDI in the sector it will help in reducing (more…)

Breaking Corporate India Earnings News

NaMo Practiced Clean Industrialization in Gujarat

June 25, 20142 min read

As Shri Narendra Modi administration assumes office in Delhi, we analyse the Gujarat model of doing business adopted by the state during his tenure as the Chief Minister. The main focus of our study was on three aspects: Gujarat’s (i) framework for land acquisition and allocation to the industry, (ii) strategy to develop Common Effluent Treatment Plants to support industrial development, especially SMEs, and (iii) efficient water management by river integration.

Land Acquisition: Gujarat has tackled several pain (more…)

Mutual Funds Review

DSB 10 Year MoM Rolling IRR for HDFC Mutual Funds

June 10, 2014June 10, 20143 min read

This Article is a Must Read for everybody as we introduce a new benchmark of calculating 10 Year SIP Returns –

DalalStreet.Biz [DSB] 10 Year Rolling MoM Internal Rate of Return for Mutual Funds in India

We started off with 5 of the Top Performing Funds which we recommended 11 years ago.

Since we posted just on twitter a year ago about our new methodology of researching mutual funds, I’m sure most of you must have (more…)

Equity Research

Amtek Auto – Set to Play on Indian Automotive UpMove

June 9, 2014June 8, 20142 min read

Amtek Auto is India’s second-largest auto components company, with revenues of INR156bn. It has a global market share of 20% in turbocharger housings and 15% in ring gears. Amtek Group has been very aggressive with capex and acquisitions [Tekfor and Kuepper] in the past — this has not played out as expected by management, due to Corrupt Governance & Policy Paralysis during Sonia Gandhi’s Congress Regime in the key markets of India (57%) and Europe (~37%) led to significant debt build-up. Amtek management is now focused on improving return ratios and generating free cashflows, which should be taken positively by the market.

Amtek is a high-beta play on recovery in (more…)

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