Anyone aware of any recent development with Tata Investment? The run up in last few days has been something unusual. Its like a rerating and not usual gap up to fill NAV discount…Is something changing in the way this company operates or its structure or any constituent getting massively rerated?
Posts in category Value Pickr
My portfolio-Nibin (12-09-2022)
It was a small position and in short period it went 30%. Debt to equity is above 1.2 and that make me a little cautious and their tall claim of 30% volume growth every year is need to watch off . I might reenter.
Websol energy system ltd (12-09-2022)
JV with Amp Energy India to Make 1.2 GW of Solar Cells & Modules.
Shiva Cement Ltd – Expanding It’s Capacity (12-09-2022)
Anybody attended the AGM then please share the notes on the same
Yash Portfolio Feedback (12-09-2022)
Another Portfolio update,
Took the market rally as an opportunity to trim down some small holdings/companies where thesis was going wrong:
- Exited Hindustan Oil Exploration Company: Thesis gone bad. Post repeated delays, have lost faith in management’s ability to execute on the B-80 block. Poor communication with investors doesnt help. This was one of the stocks bought in the peak of Covid, and as such delivered multi-bagger returns
- Exited Manappuram Finance: Thesis gone wrong. It really hurts to sell this one at book value. I suspect returns might be decent here, however it starts looking like a value trap. High ticket size gold loan business is permanently impaired which will challenge the company’s ability to grow in the long run. I still think the company can do 16-18% ROEs, however growth is question mark. Booked a ~15% loss here. Probably will look to reallocate to Ujjivan Financial Services. Will keep tracking and re-look if there are signs of growth or reducing competitive intensity.
- Exited Bajaj Finance: rich valuations. At 10x P/B, there is limited scope to make a good return. In addition, it was a small weight. Made sense to reallocate to other names.
- Exited Sunteck Realty: thesis going wrong: In a couple of years where residential real estate sales are going through the roof, company has struggled to sell its ready inventory in BKC and meaningfully accelerate sales trajectory elsewhere. I further expect the Mumbai market to be in oversupply starting this year as mentioned above based on the advance premium collections.
- Exited Century Textiles: This one might be a bit harsh. Paper business is in an upcycle and real estate business is just being setup. Valuations too are fair. I primairly bought for real estate. However, chosing to exit and make room for other opportunities given that I dont expect Mumbai real estate to do great from here. This marks the exit from all real estate stocks. I held for much lower time than I envisaged, however nevertheless, the returns from the overall basket were pretty healthy at somewhere around 50%.
- Trimmed Faze Three: the expected returns had just started dipping post the monster rally. Took the opportunity to reduce allocation and reallocate elsewhere.
- Trimmed Saregama: valuations are steep. Expect to exit this one completely when better opportunities become avaialble. I actually think cash might even be a better opportunity. Valuation rationale is explained here: Saregama India Ltd: India’s premier music publishing label - #414 by yrm91
- Expect to add Ujjivan Financial soon. Have also taken a short-term trading bet (not discussed here). Rest is going to cash in wait for better opportunities.
CAMS – Indirect Bet on Financialization? (12-09-2022)
However the problem is that LIC has refused to participate in Dematerialization till now. I have an insurance account but couldn’t get my LIC policies there and it defeated the whole purpose of opening that eIA account. Hope things change now.
CAMS – Indirect Bet on Financialization? (12-09-2022)
However the problem is that LIC has refused to participate in Dematerialization till now. I have an insurance account but couldn’t get my LIC policies there and it defeated the whole purpose of opening that eIA account. Hope things change now.
Premier Explosives (12-09-2022)
With today’s news, can Premier Explosives be categorized as Explosives’ CDMO ?
caef691f-dae1-470f-bd96-32c8313de46f.pdf (608.5 KB)
Premier Explosives (12-09-2022)
With today’s news, can Premier Explosives be categorized as Explosives’ CDMO ?
caef691f-dae1-470f-bd96-32c8313de46f.pdf (608.5 KB)