Hey! You can invest in Govt. and State bonds - which might not give as high returns as Corp bonds but you can sleep soundly knowing your payments will be managed by RBI.
These bonds are listed on BSE/NSE as well so no need to go through a non-transparent process as is in case of Corp bonds offered by some online platforms.
Best part is you can invest as little as Rs. 1000/- and buy/sell on exchange anytime.

We have launched a small knowledge portal with details of these bonds which you can check here - bonds.aumline.in

In case of any further help feel free to ping me!

Any idea when is the company’s lease due for renewal? In connection with NMDC, I found this on internet - “Government companies or corporations whose mining lease has been extended after the commencement of the MMDR Amendment Act, 2015, are to pay 150% of the royalty payable. In other words, NMDC will be required to pay a 22.5% royalty against 15% earlier, on iron ore volumes from all mines, except for the Kumaraswamy mine (annual capacity 7 mt) in Chhattisgarh. The same had resulted in an additional expenditure of ₹149 crore during Q4 and expenditure will be higher moving ahead”. Just wanted to know if this will hit the company any time soon.

I exited RPSG Ventures and increased allocation to Tata Consumer and Nykaa. Some factors were bothering me regarding this company from sometime.

1. Debt to equity increased above 1.
2. Equity was diluted for acquisition.
3. Promoter history regarding coal scam, I missed it in my assessment.
4. Promoter’s political affiliation in West Bengal.
5. Slowdown of BPO business.
6. Lack of clear path of the business.
   Company has the ability to deliver good results in the future but too many variables was making it difficult to hold.

One reason for price correction may be because of Europe/US slowdown. They have 5 customers in Europe and 4 customers in US and the orders may get delayed due to the slowdown.

Taking above inputs, I’ll take a stab at PEL valuation now : -

10000 crs. of capital avlbl at face value = 10000 crs.

16000 crs. Lending biz - 1.2X Book value = 19200 crs.

1500 alternative and 1000 insurance biz - These I blv have more growth and profitability scope so 1.5X Book = 3750 crs.

Total = 32950 crs.

PEL currently trades at 22k mkt Cap. so that’s almost 35% discount. And it doesn’t factor Piramal’s experience and probably the fact that some mkt drawdown may present them undervalued opportunities.

A very back-of-envelope valuation. Feel free to provide counter points please.

Disclosure :- Invested from pre-merger days.