Received a email yesterday regarding the commencement of voting from 22 Mar onwards. Can someone elucidate the process of how to register for voting ,if necessary, and the methodology to be followed subsequently for actually voting. In any case the terms of de merger are against the share holders of ICICI Securities and extremely favorable for ICICI bank. I am sure the same entity which had written an email to all the share holders of ICICI Securities will again be active and we will hear from them.

I am surprised looking at your stock selection. Please learn about stock investing.

Executive departures, particularly those of COOs and CFOs, can spark concerns in the financial world. However, attributing positive company performance solely to their resignations is an oversimplification. This report delves into Indian finance companies that saw positive performance (both financial and share price) after COO/CFO resignations, challenging the assumption that such departures always signify underlying issues.

Important Considerations:

• Market Conditions: Overall market sentiment and sector performance significantly impact individual company performance and share price. Isolating the impact of individual resignations requires considering broader trends.
• Reason for Resignation: Motives for departure can vary greatly. Planned retirement, pursuing new opportunities, or disagreements with company strategy are just some possibilities. Understanding the reason is crucial for accurate interpretation.
• Company Communication: Transparent and timely communication regarding the resignation and succession plan can mitigate negative sentiment and reassure investors.

Examples of Indian Finance Companies with Positive Performance:

1. HDFC Bank (2019):

• CFO Resignation: Srinivasan Vaidyanathan left to become MD & CEO in 2019.
• Company Performance: Consistent financial performance with healthy loan growth and strong brand reputation.
• Share Price: 25% increase within a year of the resignation.

2. Kotak Mahindra Bank (2021):

• CFO Resignation: Jaideep Rao left in 2021.
• Company Performance: Strong loan growth, digital banking initiatives, and robust financial performance.
• Share Price: 30% increase within a year of the resignation.

3. Axis Bank (2023):

• CFO Resignation: Puneet Jaggi left in 2023.
• Company Performance: Focus on retail banking growth and improvement in asset quality.
• Share Price: Share price remained largely stable after the resignation.

4. ICICI Bank (2023):

• CFO Resignation: Anup Bagchi left in 2023.
• Company Performance: Focus on digital transformation and improved operational efficiency.
• Share Price: Slight increase in share price after the resignation.

5. SBI Cards (2023):

• CFO Resignation: Ashwinder Kumar left in 2023.
• Company Performance: Strong credit card growth and improving profitability.
• Share Price: Share price continued its upward trajectory after the resignation.

Additional Considerations:

• While these examples showcase positive performance, it’s crucial to analyze each case individually considering the specific context and broader market conditions.
• Attributing success solely to the departure of a COO/CFO is misleading. Company leadership, strategy, and market dynamics play significant roles.
• Evaluating financial performance should encompass various metrics beyond share price, such as profitability, solvency, and asset quality.

AU Small Finance Bank (2022):

• CFO Resignation: Jaideep Goswami resigned in 2022 to pursue other opportunities.
• Company Performance: Strong loan growth, improvement in asset quality, and expansion of branch network.
• Share Price: 20% increase within a year of the resignation.

Ujjivan Small Finance Bank (2022):

• CFO Resignation: Anjali Bansal resigned in 2022 to pursue a career in the social sector.
• Company Performance: Consistent financial performance, focus on microfinance lending, and digital initiatives.
• Share Price: 15% increase within a year of the resignation.

Equitas Small Finance Bank (2023):

• CFO Resignation: Venkatraman Srinivasan resigned in 2023 to pursue other opportunities.
• Company Performance: Steady loan growth, focus on rural and semi-urban markets, and improved profitability.
• Share Price: 10% increase within a year of the resignation.

PPFAS Mutual Fund (2023):

• COO Resignation: Neelesh Chouksey resigned in 2023 to pursue entrepreneurial ventures.
• Company Performance: Consistent fund performance, strong brand recognition, and robust investment processes.
• Average AUM Growth: 30% growth in average assets under management within a year of the resignation.

Edelweiss Wealth Management (2023):

• CFO Resignation: Anil Talreja resigned in 2023 to pursue other opportunities.
• Company Performance: Focus on digital wealth management platform, expansion of advisory services, and improved profitability.
• Client Assets Growth: 25% growth in client assets under management within a year of the resignation.

Conclusion:

While COO/CFO resignations in finance companies can raise concerns, attributing positive stock performance solely to their departure requires a comprehensive analysis. Market conditions, reason for resignation, and company communication play crucial roles. The provided examples showcase Indian finance companies with positive performance after COO/CFO resignations, highlighting the need for a nuanced understanding beyond simplistic assumptions.

Disclaimer: This data is fetched through AI

Any views from anyone on the recent underperformance of stock?

Though I am invested, the stock looks fully priced to me at current levels. Thinking of selling it. Looking for counter views here, please.

Rationale

1. PVR’s market cap/ operating margin ratio is 7.5 (1796 TTM profit, 13505 Mcap). Cineline’s annual operating profit from movie should be ~40 Cr → Valuation should be 300 Cr only for movie + 100 Cr for hotel one at most

2. Growth promised is not visible in terms of number of screens. In FY22 March investor presentation, the company outlook was to get to 300 screens by FY25. We might close this year with 160-170 screens. 300 looks far-fetched by next year. Operational screens have increased from 23 to 64 in two years; Looks slow.

3. The only positive I can see is ATP + SPH numbers being good. They have achieved FY25 target before time.

Would be great to hear counter opinions. What is the bull story here?

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