Posts in category All News
NEET exam row: Pradhan slams Cong, says it wants to run away from discussion in Parliament (29-06-2024)
Ambika Cotton Mills (29-06-2024)
Cotton Prices rose in 2022 because of higher demand for knits due to WFH around COVID and major upgrades of home textiles by US buyers. Post that, the textile mix should again go back to formal clothes / outer clothes - which are cotton, cotton mix or pure synthetic…
In short - the 2022 trend is not going to repeat itself. We may see cotton price increase once the demand from US picks up since that is where most of our garments, home textiles and knitwear is exported to.
Same holds for domestic demand. Barring Dollar, no other innerwear co or fashion clothing co is reporting double digit volume growth or 20%+ rev growth yet.
Ambika Cotton Mills (29-06-2024)
I did a linear regression of Cotton Yarn WPI monthly price data vis-a-vis monthly stock price of major listed cotton yarn players - It looks like Ambika’s stock price is the one that most closely follows the cotton yarn price
Company | CMP correlation with Cotton Yarn Price |
---|---|
AMBIKA | 60% |
VART | 49% |
Rajapalayam | 1% |
NITIN | 47% |
Now that we’ve established that cotton yarn price increase will also lead to increase in Ambika’s stock price, how do we establish that cotton yarn prices are rebounding back to previous peak?
I looked at the WPI data and it looks like 2022 was a major exception in terms of cotton yarn price increase. No other year has the cotton yarn prices have increased so much.
Honestly, cotton yarn prices had remained static for 8 years prior to 2020 irrespective of inflation.
Calendar Year | Index |
---|---|
2023 | 131.4 |
2022 | 154 |
2021 | 133.2 |
2020 | 111 |
2019 | 116.1 |
2018 | 115.5 |
2017 | 113.2 |
2016 | 108.4 |
2015 | 107.7 |
2014 | 117.5 |
2013 | 113.7 |
If anyone with experience in this sector could chime in? @sunilkumarca3101
Saregama India Ltd: India’s premier music publishing label (29-06-2024)
Very insightful podcast explaining the nuances of music distribution and monetization from both the global and Indian perspective.
Siddhartha Roy | The Music Podcast: @hungamamusicofficial Distribution, Monetization & Digital Ent.
Congress targets PM over report on Adani group ‘taking’ Chinese help in solar project (29-06-2024)
GE Power bags purchase orders from NTPC, MAHAGENCO (29-06-2024)
Jupiter Wagons Ltd (previously CEBBCO) (29-06-2024)
Allotted 28,72,340 Convertible Warrants.