Interesting development. IEX keeps coming up with new innovations.
Posts in category Value Pickr
Usha Martin- Coming out of Chaos (06-02-2024)
Usha Martin Muted Results
- YoY revenue – 802 cr Vs 838 cr
- YoY PAT – 107 cr Vs 84 cr (Good)
- QoQ revenue – 802 cr Vs 806 cr
- QoQ PAT – 107 cr Vs 109 cr
Help with NRE PIS account transfer and fees (06-02-2024)
While searching for a demat account for NRIs, I came across ProStocks, another online discount broking platform. Is anyone using it? Any feedback or experience?
They offer the following option which I found to be very flexible
Charges are Rs 100 per executed order for both equity/F&O.
Another question is regarding the transfer of existing shares to the NRO/NRE demat account.
I read that NRIs are recommended to transfer all existing shares to the NRO/NRE account, is it also possible to transfer it back to the domestic demat account tax-free after the change in residential status?
Background: Considering I am on deputation for 4 years. I am currently using Angel Broking and inclined towards Zerodha as an NRO account.
Buy Unlisted Shares (06-02-2024)
Try Ixigo or Le Travenues. They have re-filed revised DRHP last December 2023.
My portfolio updates and investment journey (06-02-2024)
Can it be a case of perception or loop hole in GST laws which keeps it open for interpretation? The tax payer will pay GST based on his/her understanding of the GST laws and will wait for the Tax body to identify the gap. These cases eventually go to courts and may land up with settlements.
My portfolio updates and investment journey (06-02-2024)
This is surprising that, in today’s era of so called transparency, almost all private insurance companies are paying less GST, if these demands are correct.
Demands in excess of 700 Crores also raises questions about the efficiency of the entire system and process behind it. Ideally, when the company defaults on GST of 100-200 Crores, immediately this should be caught. I am not sure whether such systems are still not in place in today’s transparent governance systems!!
I believe that, companies should also raise their awareness and calculation systems to ensure that GST amounts collected from us (customers) are deposited to the GOI on time.
I may be wrong in my analysis.
Biased as I am invested in some of the insurance businesses.
Raymond – The Complete Man (06-02-2024)
I am also tracking the demerger news. afaik , they are waiting for approval from NCLT and demerger agm will be held on 28 feb 2024. dont want to miss demerger opportunity like mirza and redtape . However the only difference is the cyclicality of raymonds lifestyle
Anant Raj Limited (06-02-2024)
Great results from Anant Raj as expected. Eagerly waiting for concall to hear about Data center updates.
Revenue increased by 47.5% to ₹392 crore
Profit increased by 58.2% to ₹71 crore
EBITDA margin increased from 19.9% to 23%
My portfolio updates and investment journey (06-02-2024)
@Sameer_Upadhyayula , I really dont understand the news fully. Tax related news came a month back, Now news includes part on non-KYC.
PB Fintech is a facilitator of insurance and loan products. So there should be a joint responsibility of PB Fintech and lender/insurer for KYC. If there is deficiency in KYC from PB Fintech then these lenders/insurance orginators should go back and ask for documents. If PB fintech is at fault then most likely it will percolate to originators as well.
I dont know of the implications. One thing which i dont understand is that the news links kyc with tax also. I understand that PB fintech is not profitable so tax liability shall not arise. I am not sure if this more on GST side of survey which many of the insurers already received notice for same. – HDFC Life faces ₹942 crore GST demand | Mint, ICICI Lombard: ICICI Pru Life gets GST demand notice of Rs 270 cr – The Economic Times, Bajaj Finserv shares in focus as insurance arm gets Rs 1,010 crore GST notice. Details here – BusinessToday. And there are many more – Disguised Payouts: Banks, Insurers Face Gst Notices | Mumbai News – Times of India, .
Lets see how this pans out. Other stocks did not react much or came back post these notices.
I have significant position and I bought today also so please take my reading with pinch of salt. Biased.
Olectra Greentech – Electric Bus Opportunity (06-02-2024)
Concerns mentioned in the below article:
https://thryvv.in/article/olectra-greentech-electrifying-the-indian-bus-industry/
- In the August 10th, 2023 Conference Call the management guided for 1200-1500 e-buses & e-tippers for FY23-24. The management then reduced that guidance to 1000 in the November 7th, 2023 Conference Call. The management again reduced the guidance to 700 in the February 1st, 2024 Conference Call
- The management is guiding for 5000+ e-buses & e-tippers in FY25-26 and is currently struggling to reach 1000 in FY23-24. I have my doubts about the management’s ability to scale up so quickly for FY25-26.
- Even with the 8088 e-bus order book on hand, I am not able to understand the management’s reluctance to work in multiple shifts instead of the current one-shift structure of production.
- My second biggest concern stems from their strong technology partnership with BYD (a Chinese Company). The partnership started in 2015 and as per the management, it is likely to go beyond 2025. Olectra Greentech Ltd. is dependent on BYD for the battery cells and some of the child parts relating to the powertrain. Apart from this, all the other components, are sourced locally in India. As per the management, 25-40% of e-bus components come from BYD. This heavy dependency on a Chinese company is concerning. Considering the current geo-political tensions between India and China, it is very likely that the government of India would not view relations with a Chinese company favorably.