Super Interesting and Informative.
Deep Dive into "Affordable Housing Finance" @ScientificInvesting | Smart Sync Services #investing
Super Interesting and Informative.
Deep Dive into "Affordable Housing Finance" @ScientificInvesting | Smart Sync Services #investing
Thank you sir, but you have earlier planned for changing weightage to 3:7
(12m: 6m), (and you have provided also) Which I think is better reference, as on backtest also should give better results.
As you can see when we pick the stock they r returning consolidation from their best, please if you could provide list based on that, if not possible then 2 separate lists, we will find results in max 4 weeks, we will continue whichever is better, thank you sir.
Yes, I am aware of all these reasons why I mentioned the 51% stake but all this happened before the recent semiconductor packaging/assembly unit development in MMRFIC so post that development things should have positively changed for MMRFIC and so my question.
I’m trying to understand the rationale of this?
Ok. But even your hedge would depend on sufficient liquidity being available at that point of time. And I am not sure if there will be sufficient liquidity at a price which is so far away from the price of the underlying. What has been your experience?
Mr Raghvendra has sold 15lac shares. The sale is for personal reasons for the family. The buyer is an institution. The institution has not announced it yet. Due to the QIP he had a freeze, which is now lifted, hence he’s decided to take a little money home. First time in all these years.
NCBG sale was a few days later. I don’t have information on this as yet.
Overall, not much of a concern. Large amounts have exchanged hands.
I’m keen to know who the buyer is.
Also keen to see how the order flow builds up this quarter.
Holding.
@R_Sawkar Good that you asked so that I can provide an explanation.
In our strategy Z-score is not used to determine over bought or over sold condition. We use it for ranking purposes. As you know our main factor is momentum ratio, that is combination of price action and volatility. We are using two look back periods of 1y and 6m. We use equal weightage factors (though we could use different weightage), that is basically same as finding average of the two.
If the performance of the universe for different time periods is vastly different, finding average might not be a good solution. Instead by using Z-score, we are looking at the position of the scrip in the universe. We calculate Z-score on the momentum ratio and that is used for ranking.
When we calculate the average, we don’t calculate it on momentum ratio (that is the base factor on which ranking is done), but by using Z-score on momentum ratio.
Therefore, we don’t look at absolute numbers, but use Z-score in ranking our scrips for selection.
If you use one look back only, like 1y or 6m, you can do it just on momentum ratio and will not need to calculate Z-score.
PS: Another point you will notice is that all momentum stocks will have an RSI score of over 70, ie over bought condition. That is why we do not use this parameter to determine entry of stocks in our pf.
i checked on trendlyne. At screenshot the quantity at NSE is 7.5 & at BSE it is also 7.5.
Your query has been beautifully answered by @barathmukhi . Fully agree with his views. The other aspect of the equation is to figure out where you are extremely good at. Whether its technical analysis or fundamental analysis. And follow that discipline.
Its not possible for me to give personalised advice on a particular stock. You can take your own call.
Here are my notes from their AR24.
Manufacturing facilities:
All EIRs are in place
F1 (Panelav): Oral solids
F2 (Panelav): Oncology oral solids + oncology injectables
F3 (Karkhadi): General injectables+ Ophthalmic
F4 (Jarod): Oral solids + Oral suspensions. Transferred products from F1 to F4 to decongest F1
F5 (Karkhadi): Dermatology
Sikkim: Branded domestic business
Pithampur will come onstream in FY25 and complement Sikkim for domestic sales
3 API plants (2 in Panelav, 1 in Karkhadi)
US (sales: 1’730 cr., growth @10%)
Launched 27 products (15 were from new facilities), filed 15 ANDAs (12 complex filings), got 15 final approvals, filed 1 DMF
10 injectables launched so far
Reduced annual ANDA filings from 20-25 earlier to 15 now, product mix is changing to complex products
7 oncology product filings awaiting approvals
Filings catering to new therapies (oncology, dermatology and ophthalmology) and new platforms (injectables and inhalation) it stood 12 filings (out of 15 filings) in FY24. In FY25, the filings for these products and platforms will be ~14
54% of development pipeline for the US comprises non-OSD products
Made a meaningful entry into the peptide space with 2 ANDAs filed and setting up a kilo lab for peptide APIs
Non-US generic (sales: 1’052 cr., growth @23%)
14 launches in FY24
Will launch 25+ products in Chile in FY25 expanding product basked to 30+. Expect to start operations in Mexico in 2026
Received orders for 2 injectables from Malaysia and Chile which will be launched in FY25
Setup subsidiary in UAE with a scientific office. Filed 20 products in UAE and hopeful of securing approvals in 12-18 months
Have presence in 41 countries
Their strategy of developing B2B model has worked well in Europe
Favorable regulatory tailwinds in Australia helped them grow volumes
Domestic business (sales: 2’200 cr., growth @7% vs 8% for industry)
12 therapeutic areas, 20 marketing divisions, 5000+ MRs catering to 2.33 lakh doctors (vs 2.31 lakh in FY23)
Launched 15-20 new products
1.5% market share, 4 brands generating 100 cr.+ revenues, 9 leading brands, 69 brands above 10 cr. sales
MRs 5000+, gave iPads to MRs and upgraded to SalesForce
API (sales: 1’246 cr., growth @7%)
Animal healthcare
Created a new division for livestock products, 71 products launched in speciality and animal health spaces in FY23 and FY24.
Expanded team to 350 people
R&D 476 cr. (vs 731 cr. in FY23)
Investments in API, injectables and ophthalmic will increase
Largest investment in FY25 will be on peptide-based formulations and APIs for Para-IV filings
6 new technologies such as powder drug layering, laser drilled osmotic drug delivery, spray drying, hot melt extrusion, wet milling using Dyno-mill and dry granulation using roller compactor were introduced
New technologies to manufacture various dosage forms are through the technology of sterile powder namely lipid-based liposomes and polymer based microspheres. Nanoparticle delivery system technology is also introduced that uses nanoparticles for targeted administration and controlled release of therapeutic agents. Device capabilities have been introduced for manufacturing pre-filled syringes, pre-filled cartridges, pens and auto-injectors both upstream and downstream
800+ R&D team
Capex (345 cr.)
Capex cycle is over fulfilling demand over next 3-5 years, expect good free cashflow generation
Setup 12MW solar power plant for Panelav unit, setting up 11MW solar plant at Karakhadi in FY25
Miscellaneous
Employees : 14’858 (vs 14’593 in FY23)
KMP + close person remuneration: 75 cr. (vs 48 cr. in FY23)
Related party purchases from Shreno Publications: 50.95 cr. (vs 43.31 cr. in FY23)
CSR : Spent 13.19 cr. (transferred 2.94 cr. of obligations in April 2024)
8% increase for non-managerial personnel and 65% increase for managerial personnel (there was no commission paid in FY23 which was reinstated resulting in higher payout to KMPs)
# shareholders : 78’191 (vs 101’761 in FY23)
Auditor remuneration : 1.39 cr. (vs 1.3 cr. in FY23)
Tax liability : 13.22 cr. (vs 1.77 cr. in FY23)
Contingent liability : No major liability except corporate guarantee of 40.69 cr. (vs 106.72 cr. in FY23)
Disclosure: Invested (position size here, no transactions in last-30 days)
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