Should we assume that this merger is not happening? Inox wind issued a 3:1 bonus while the amalgamation scheme was ongoing and stayed mum on how it would affect the proposed swap ratio of 158:10. Wouldn’t promoters take advantage of the arbitrage instead of sale of equity shares via block deals?
Posts tagged Value Pickr
INOX Wind (04-07-2024)
Should we assume that this merger is not happening? Inox wind issued a 3:1 bonus while the amalgamation scheme was ongoing and stayed mum on how it would affect the proposed swap ratio of 158:10. Wouldn’t promoters take advantage of the arbitrage instead of sale of equity shares via block deals?
Lazycap’s Portfolio – Feedback (04-07-2024)
Hi,
Help me understand how you have created this tracker?
Lazycap’s Portfolio – Feedback (04-07-2024)
Hi,
Help me understand how you have created this tracker?
Indian Railways 10 Trillion Mega Capex Plan – Railway Stocks to Ride (04-07-2024)
DIY Momentum QnA and Discussion (04-07-2024)
I think you are looking at it the wrong way. Let me explain why momentum works rather than investing in a small-cap or a micro-cap index, etc. Please remember that this is my understanding of why momentum works, and I can be very wrong as well, so take it with a grain of salt.
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In a bull market, an all-cap universe momentum strategy will match or underperform the small-cap or microcap index. It’s virtually impossible to beat the index in a bull market. Even if you beat it with the momentum strategy, it would be by a small margin
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When the tide turns, and we go into a bear, or a sideways market, the small-cap and/or microcap indices will go into a huge drawdown. Momentum portfolios will shift to either mid-caps or large-caps, depending on where the best performance is. So you will lose less than the other small/micro-cap indices might have lost.
Momentum works because it switches you into performing sectors and marketcaps. It does it for you because it only sees the price. This doesn’t mean that it won’t give you drawdowns. You will get hit by the initial fall, but eventually, your system will shift and give you better performance than the index. Please read the words carefully - better performance than the index, which means if the index is still falling, say 20-30% more, you may fall only 15%
Over multiple bull and bear cycles, momentum is highly likely to outperform most of the indices. Again, consider this a high probability and not an assured thing. Further, if the country itself goes into a sideways market like what China or Hong Kong did over the past decade or so, then don’t expect momentum to give super returns as well. It might give a little bit of alpha above index returns, for sure, but don’t expect it to make a ton of money in prolonged bear or sideways markets.
Nuvama Wealth Management: Proxy to Affluent India (04-07-2024)
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Agreed, I think the cash flow statement in the annual report that will be published now will be of better help to get to know the specifics. Also, loaning out is a part of core operations so it gets added back to the cash flow from the PnL statement itself. Agreed that the CFO can’t be negative consistently. But I would like you to compare this with 360 instead of Anand Rathi as there not exactly peers to peers.
But I will delve deeper into this to get to know the specifics of the whole cash flow! -
When I said growth over dividends, that was just my personal opinion
Nuvama will/should come with a dividend policy by Q1 fy25. If not, it should be brought but since they have mentioned it I think it’s fair to wait and see.
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So the thing is, HNIs and UHNIs are very sticky. I have been studying deeper and the persistence ratio for UHNIs is high 90s and for HNIs is low 90s. and that’s really good. Which makes me believe the services aren’t as price elastic as we might assume. Moreover, they are more likely to pick their asset manager because of their assets easily being used as collateral. You dont lose out on customers very easily here.