Very predictable move…Who will be the buyer, interesting?
Disc: As mentioned in recent past post.
IRB INVIT TRUST- new game in the town! (24-09-2024)
Is swaping IRB InvIT (Rs 62) for Bharat Highway (Rs 113) a good trade at current levels for mid-long term?
Especially when revenue stream from annuity model is superior vs IRB’s toll collection
SEBI board may give nod to MF lite, new asset class on Sept 30 (24-09-2024)
This may be offered under the MF structure, with a new branding and relevant relaxations in existing MF norms
Rahul’s claim that PM Modi has lost confidence ‘utterly laughable’: BJP (24-09-2024)
The BJP has dismissed Rahul Gandhi’s recent criticism of Prime Minister Narendra Modi as baseless. Union minister G Kishan Reddy stated that Gandhi lacks the moral authority to criticize Modi, who has consistently earned the trust of the Indian people. Reddy emphasized Modi’s leadership and India’s global standing.
Smartsheet to go private in $8.4 billion deal with PE firms Vista and Blackstone (24-09-2024)
Smartsheet develops software that offers more features and capabilities than Microsoft’s Excel, targeting organizations seeking to manage, track, and automate workflows through a unified platform.
Middle East tensions, rate cut bets power gold to record high (24-09-2024)
The current spike is being driven by a “flight to safety on Middle East concerns; that there’s going to be some renewed possible action by Iran… think we’ll continue to make another new set of highs,” said Bob Haberkorn, senior market strategist
Shivalik Bimetal Controls Ltd (SBCL) (24-09-2024)
Questions for Shivalik Bimetal AGM Sep 26, 2024
It’s time to get back our focus on questioning SBCL Management to extract more out of the interactions at AGM 2024. My natural bent is to focus primarily on the medium to longer term issues (even as near-term might be a bit disconcerting to some; to others it may seem like more of an opportunity 
). So let me get to try and probe if the medium to long-term view is intact.
- Bimetal segment constitutes ~ 50% of total sales, with motor starters accounting for 8-10% of bimetal sales. In Exports, some customers like Cutler Hammer (primarily motor-starter sales?) had scaled up significantly since 2021 and even overshot Siemens (hitherto the primary customer in bi/tri metals). Bimetal Sales thus were a safeguard against fluctuating Shunts Market.
- We are hearing of-late demand first peaking, and then plateauing and coming off in this segment (quite majorly for some customers if not all). Could you please throw some light on the demand drivers, extent of stocking-destocking, and medium term outlkook for this segment. What were the main pillars of demand spurts in 2022 and 2023 and how does it look now for Shivalik?
- MoU with Metalor Technologies International SA (Swiss Corporation) for setting up a Joint Venture in India to manufacture and sale of electrical contacts. This is expected to establish SBCL again as a global supplier in Contacts segment, boost volumes hugely albeit at considerably lower margins.
- With the JV now signed, can you please throw some light on when commercial supplies is likely starting and what will be the segment contribution to sales/margins within 2-3 years> What kind of projections visibility are we working with now – is it 6-7 years, or more like annual?
- Capacity in-place for 1600 Cr in annual sales since 2023. SBCL had mentioned then that the confidence in setting this up much ahead of time was based on 6-7 years forward visibility from strategic clients and the ramp up envisaged by them. EV market dynamics and geopolitics might have led to a significant pause.
- Please throw some light on how have these projections been revised/deferred by major Clients like Vishay. Also Continental and Hella were expected among major growth drivers but they have stayed where they were (last 2 years) while others like Gruner and Dooyoun have spurted much ahead in the same timeframe. Will be good if you can share anything on these new relationships.