Posts tagged All News
Do homework, avoid bad debt: Sebi to MFs (15-09-2015)
91 stocks outrun markets after June quarter results (15-09-2015)
91 stocks outrun markets after June quarter results (15-09-2015)
Sebi seeks greater NBFC disclosure (15-09-2015)
Sebi directs MFs to improve monthly disclosure standards (15-09-2015)
Nationwide investor survey to understand investment habits (15-09-2015)
Telecom companies cornered over call drops (15-09-2015)
Page industries (15-09-2015)
Well, you guys need to be aware of the latest developments. Mgmt has indicated to a few analysts that even second qtr is panning out to be like first one. The corrective steps will have positive impact only third qtr onwards. I have different take on Page's performance. Page's ability to take price hikes is dented like Hawkins since inflation is in negative. Large part of Page's earnings have come from annual price hikes along with volume expansion of 15-20%. Volume expansion has declined to below 15% which is quite good in this slow growth environment. PPI deflation is getting difficult to handle. If the earning growth is just 20%, real growth is 25% (20%-(-5%)) where PPI is -5% from previously real growth of 33%-8%=25% when 8% was inflation and high earning growth. But our mind is wired to look at nominal growth.
To me it looks like more than a bull market correction and it could be a process to de-rate Page. Mr. Market has its own mind and interesting things do happen.
Disc: Invested with the largest % holding