which dates, please provide dates.
Posts in category Value Pickr
Smallcap momentum portfolio (25-05-2024)
Returns below
Smallcap momentum portfolio (25-05-2024)
I checked for INOX WIND, and apparently for two dates google finance was not giving correct price, i had to change that manually and now I am getting Inox wind in top 6. but in my list BEML AND BRIGADE is in top 25 and not top 20. This is the only difference now between your list and mine.
Manappuram Finance (25-05-2024)
Point No: 2 - promotors investing in personal capacity. This is just bad coporate governance. I couldn’t make out the management’s reply due to the bad audio quality of the concall.
Smallcap momentum portfolio (25-05-2024)
@Anand_Jain That’s good. Are your returns over 1 year and 6m same as seen in @stuti_agarwal 's chart? Those are the values I have.
Smallcap momentum portfolio (25-05-2024)
My values are the same but getting 99 rank for INOXWIND!
-0.051%
0.171%
-0.863%
0.372%
3.767%
Smallcap momentum portfolio (25-05-2024)
@stuti_agarwal Formulae appear to be correct.
17/05/2024 | -0.051% |
---|---|
21/05/2024 | 0.171% |
22/05/2024 | -0.863% |
23/05/2024 | 0.372% |
24/05/2024 | 3.767% |
Please check the latest 5 values related to INOXWIND in your column NM. I have given my values above. I am certain that the difference is coming from here.
Mutual fund guideness required (25-05-2024)
Start following https://www.valueresearchonline.com/
To me its the best platform for MF… you may use the fund screener option to select your mutual funds (preferably 4/5 star rated, having some track record, may start with Hybrid/Flexi Cap one)
They have done wonderful work since last two decades…follow them, hopefully you wont be disappointed.
Disc: Not a Financial Advisor
Manappuram Finance (25-05-2024)
Business wise, Manappuram is running a solid business when it comes to Gold loan.
When loan is given against Gold, i.e. one of the most liquid & safest collateral, there is least probability of loss upon liquidation / auction when a gold loan turns NPA.
Also, they acquired Asirvad at the right time, just have a look in last 12 to 24 months, many NBFC operating in MFI, MSME lending etc. got listed and promoters / early investors made substantial returns.
However, Biggest issue with Manappuram is it’s promoters, few examples:
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Last year around same time Manappuram was in bad shape due to ED action on promoters because of their wrong deeds in another promoter owned firm - Impact - 65% external owner shareholders suffered bcz of an act of 35% promoter shareholder
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Manappuram Finance invested in Asirvad, however, promoters too invested in Asirvad in their personal capacity - Practically - Manappuram was fully capable of buying as much as possible of Asirvad, then why promoters bought in personal capacity - this again seems promoters not having pure intentions and poor governance act.
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During downturn of Microfinance industry, which occurs very frequently, be it due to unrest in some states, or natural calamities in different states, or unexpected event like covid-19, Asirvad was impacted badly - which impacted Manappuram too. But, during IPO of Asirvad gains for Manappuram will get limited … post listing whatever MCAP Asirvad will get - Manappuram holding will get holding company discount and on top of that low PE of Manappuram itself will further reduce the gain. Here, value unlocking like something similar to Listing of Nuvama wealth could have been done. Where let’s say whatever money Asirvad want to raise could be through fresh issue in IPO and whatever Manappuram own - could have been given to it’s shareholders in proportion of their respective shareholding. That could have been true value unlocking as well as fund raising for future growth.
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Company is giving regular dividends i.e. quarterly. Point is instead of dividend why can’t they do buyback of the same amount annually. Cash outflow point, there will not be any negative impact to company. But it could have substantial positive impact on market price, also on tax outgo for lot of investors. And above all, to promoters. But again, it’s promoters wish to have dividend and not the buyback.
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Relatively higher NPA in new loan segments i.e. Mortgages, Commercial Vehicle loan, unsecured Personal loan etc.
When compared to its closest peer i.e. Muthoot, it’s at half of PE, half of annual profit, and one-fourth of Market Cap.
All in all, based on personal investment experience, unless promoters act in much better way and hands over the MD&CEO position to a better & credible industry professional - such under-performance may continue in market returns for non-promoter shareholders, despite having solid balance sheet & underlying business. Or we wish a magic to happen like what’s ongoing in PSU’s, Infra, Railway, RE stocks.
Disclaimer: Holding Manappuram from last 5+ years.
Smallcap momentum portfolio (25-05-2024)
Please help me with this as well @visuarchie