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Posts in category Value Pickr
Fino payments Bank – Can the unique business model spring a surprise? (15-10-2024)
Business model is good and they have done it right. Going forward would like to understand the following points:
- Their subscription model is bingo, Indian customer paying for a commodity like bank account (full marks to fino). How do they expect to scale it. Secondly, what protects from competition offering this same product at a discounted price.
- once they have the license, which they should get purely because on franchise they have built, how they wish to scale the deposit base.
a) Exisiting base
b) new urban and semi urban base ( - to garner deposit they will have to shell out decent RoIs, then what NIMs they will to play in lending game.
Sanghvi Movers (15-10-2024)
stock split…thats why
Focus Lighting & Fixtures Limited (SME) (15-10-2024)
Company cancels concall due to some unavoidable circumstance. Not a good look: https://nsearchives.nseindia.com/corporate/FOCUS_14102024205931_10CancellationofInvestorsMeet14102024s.pdf
Mudit’s Portfolio (Stage Analysis + Price Momentum) (15-10-2024)
@ChaitanyaC ,
The worry that I had about DIY momentum stratgey to generate sufficient alpha over Momentum Mutual funds, given the STCG tax scenario…I gave it a thought…And I feel we are ignoring the larger picture here.
In last 3-4 years, market has been in momentum and hence momentum mutual funds appear superior tax wise compared to DIY, but that is so because their 6 month re-balancing and DIY’s weekly rebalancing is currently in same direction. Once market starts going down, then the real value of weekly rebalancing and going into cash will be seen. That time momentum mutual funds who rebalance after 6 months and cannot go into cash will become inferior. That time has not come yet. Momentum mutual funds will appear helpless then, when all their momentum stocks are going down, and they are unable to do anything as rebalance day is 6 months far away or they have to stay invested. That will give edge to DIY momentum PFs.
SmallCap Hunter : Trying to find the dark horses with triggers (15-10-2024)
I went through the company, but I don’t have full conviction yet. Here are some key points:
Positives:
- Management is projecting 8-10x profit growth over the next 3 years.
- EWA loans have grown from ₹2 crore to ₹3.5 crore QoQ, according to management.
- They charge only processing fees with no interest on loans.
- Almost zero NPAs in the EWA category.
Negatives:
- Larger companies already have internal infrastructure for EWA, limiting market potential.
- Management struggled to recall key figures for the EWA and business loan divisions and didn’t provide a breakdown in their presentation.
- The EWA market in the USA is only $22 billion, which might indicate the market isn’t that large.
- Management claims NBFCs and banks aren’t interested in ₹25,000 ticket size loans, which I don’t believe is entirely accurate.
It’s an interesting new product, but there are some unclear aspects, which is typical with microcaps. I’ve taken a small position for now.
Mudit’s Portfolio (Stage Analysis + Price Momentum) (15-10-2024)
@sandeep17 ,
Rather this is a popular misconception. Rank based momentum portfolio protects you from such severe drawdown, as it gets you out much much earlier. Those who buy and hold, they are impacted more as they couldnot summon the courage to sell. When bear market happens, Quant based momentum strategy, lets you out of market in orderly fashion, provided you follow the rules and dont bring in human bias.
Electronics Mart India (EMI) – the next Titan/ D-Mart? (15-10-2024)
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