Hi @parthiban91 I also realised illiquidity of bonds. I buy on Paytm Money app. I do not buy to sell them. Idea is to hold them. If i have to sell then I might have to sell at 5 to 10% discount.
Also as you said in 2020 interest rates were lower so you should not expect same rate as interest rates have moved up, which lowers bond price.
Update for entry on 8th April 2024
Based on ranking:
Based on A → Z for easy tracking:
Exit:
CHALET and INTELLECT exit.
Entry:
HINDCOPPER and POWERINDIA enter.
What is this news of Khavda cost pressure based on? Can you share any articles/links. My understanding was that post COVID they have changed their business model to where the client is responsible for payment of RM and they do not carry any risk of materials.
Additionally, since they will become almost debt free, thats close to 200 Crs that will get added to bottom line in addition to top and bottom line improvements from new projects. So what is the basis for saying muted growth for next few quarters?
Americans have used this playbook quite often! Be it India, China, Vietnam, Japan, Brazil, Thailand and in industries varying from shrimps, pharma, agriculture produce, textiles etc.
Basic economics is painted as some evil conspiracy uncovered by sleuths who are just shills. These actors are given the headlines before they leave their western shores on these assignments. Reports are then happily gobbled up by an audience conditioned to blindly agree with the conclusions not for a moment suspecting that both the whistleblower and the reporter could be just actors.
As far as investors here are concerned, this means that our shrimp industry is in the firing line.
This is not just about protecting their tiny fresh shrimp industry but political IMO. The Chinese government avoids purchasing Indian pharma, shrimp, rice, fruits, dairy by strict control over their private companies. American orgs do the same by molding consumer perception via pliant media.
Nuvama, JM seems bullish on the company since long, Ashish kacholia holds stake, company is guiding for 20-25% revenue growth and 30-35% PAT growth. Still the stock commands an average PE(around 27) and valuations. Can someone tracking the company tell what might be the reason? Read above someone saying that company has the history of over-promising and under-delivering. Am I missing something?
Reality of Indian shrimp industry whistle blower issue https://youtu.be/N0eXL3s3r9I?si=7f9bS0ZmZqKTcOj9
Not IDFC First Bank’s doing. See the dates.
There has been a whole lot of doubt around the company because of change in management. That’s why the stock has been consolidating for a long time. But this quarter has turned out to be excellent. Hope it continues the moment.
Notes from Gensol Credit Rating Revision by CareEdge Ratings
Rating revised from BB to BB+.
Positives (leading to upgrade):
Negatives (constraining the upgrade):
Business:
Strong revenue growth driven by EPC and EV leasing.
| Revenue | FY’23 | FY’24 |
|---|---|---|
| Total Op Inc Rs cr | 393 | 960 |
| YoY growth | 145% | 144% |
Revenue shifting towards EV leasing
| Revenue share | FY23 | 9MFY24 |
|---|---|---|
| EPC | 84% | 80% |
| EV leasing | 9% | 16% |
Strengths:
Orderbook:
Experienced promoters and management
Improved Profitability:
Structured Lease Agreement:
Weaknesses:
High Leverage:
Delayed EV Production:
Liquidity:
*Profit Before Interest, Lease rentals, Depreciation and Taxation
IDFC First Bank cmp 80.
Stock price rallied from levels of 53 in March 2023 to 100 in September 2023 and since then went into a triangular consolidation which has lasted for more than 6 months now. Important thing to observe that all during this correction, stock price has not gone below 50% retracement level of its previous rally, which shows some strength and resilience in a routine correction.
An interesting observation is a gap which was posted on 28-03-2024 when a big institution offloaded a big chunk of its holding in IDFC first bank. When there is a gap at the fag end of a correction, and is immediately filled in next day or few days, ( here it got filled very next day) it is an example of an exhaustion gap. This often signifies exhaustion on the part of sellers and can be a fertile ground for a change in trend.
The triangular consolidation drawn on the daily chart would end once the stock price closes above the breakout level from triangle which happens to be 83-84 currently. The prior upmove from 53 to 100 resembles a flag pole like structure and the triangular consolidation resembles a flag/pennant. Target for breakout based on this kind of structure comes to around 115-120.
For anyone wanting to do fundamental research, IDFC First is a well researched stock and company does regular presentations and concalls.
disc: invested.
