Indian Equity Research and Investment Strategy
How to Get More Returns in Mutual Fund SIP with Swing Strategy ?
Max Life Insurance – Revised Deal, Positive for Max Financial
Will the Digital Neo Banking Platforms Succeed in India ?
Should you own the Life Insurance Business ?
Does HDFC AMC deserve High Valuation ? Review
Valuation of Indian Markets & Relentless FII Selling
Why Indian StockMarket Quoting at High P-E ?
Why Value Investing Does not Work in India ?
Grasim Industries has recorded volume growth of 10% YoY (15% MoM) while Ambuja recorded growth of 12% YoY (+14% MoM) in March 2010. ACC’s volume declined by -3% YoY (+13% MoM). YTD (Apr-Feb), the industry despatch has grown by 11%. Industry dispatch data (more…)
Anil Ambani invested Rs18.2B in Reliance Infrastructure with the conversion of 19.6MM warrants into an equal no. of shares at a
conversion price of Rs929 (10% discount to CMP). The promoter has an additional 23.3MM warrants eligible for conversion at Rs929/share before Nov-10. The move is a reflection of promoter confidence in future growth opportunities in RELI. Conversion of the remaining warrants before Nov-10 could potentially increase promoter stake to 47.7%.
A previous warrant issue in Jan-08 (43MM warrants, conversion price of Rs1,183) was cancelled by the promoter due to weak
stock price and the promoter (more…)
Punj Lloyd has sold its 19.43% stake in Pipavav Shipyard for Rs6.56bn (Rs50.75 a share, a 20% discount to the market price). This stake sale, in our view, is aimed at boosting its liquidity position, which was badly affected by execution delays. Punj, as co-promoter of Pipavav Shipyard, had invested in it to gain a valuable fabrication facility. This would have helped it construct offshore platforms, etc. According to the company, Punj would continue bidding for projects jointly with Pipavav where their interests converge. (more…)
FMCG major Hindustan Unilever (HUL) has divested its remaining 49% stake in Capgemini Business Services (India), earlier known as Unilever India Shared Services (UISSL), according to the terms of agreement entered between the company and Cap Gemini SA.
In September 2006, HUL and Cap Gemini SA had inked an agreement as per which the former had agreed to sell its 51% controlling stake in UISSL to the latter. After executing the said agreement, both parties in October 2006 further agreed for dilution of the balance 49% stake of HUL in favour of Cap Gemini SA by March 31, 2010. (more…)
Small cap vs. large cap discounts in Indian Cement companies is at historical highs. The disconnect – Smaller companies pricing in near distress, while large companies pricing in upturn. The discount to replacement cost ranging between 20% and 60% and the discount to large-cap peers between 40% and 70%. (more…)
Till now, the government has awarded four UMPPs (two each on domestic and imported coal). Reliance Power [Reliance ADAG Group Company] has won three of them (Sasan, Krishnapatnam, and Tilaiya) and Tata Power has been awarded one (Mundra). Following the absence of significant action in the past 12 months on bidding, Power Finance Corporation (PFC), which is the nodal agency for UMPPs, has invited RFQs for a fifth UMPP in Sarguja. (more…)
