TTK Prestige threw in a fantastic set of results today, with 55% EPS growth, and 51% revenue growth, year on year. The stock closed up 7% at 2818. The chart has shown signs of peaking. I have no positions anymore, as I exited on a sharp reversal around 2650. But the stock might be worth [...]

Posted in Credit Repair, Results, Sep2011, Stocks, TTKPrestige Comments Off

Sintex announced results post market hours, at 3:45 pm today. While revenues are up 25% to 1154 cr., the net profit has dropped 61% to just 38 cr. from 101 cr. Much of this loss was due to Foreign Currency Convertible Bonds (FCCBs) based losses. Companies that borrow through FCCBs (in foreign currency) have to [...]

Posted in Credit Repair, Results, Sep2011, Sintex, Stocks Comments Off

Markets are down 1.5% in a sudden move after Moody’s downgraded SBI, India’s largest bank. The Rating goes to D+ from C-. "Moody’s Investors Service has downgraded the State Bank of India’s (SBI) bank financial strength rating (BFSR), or stand-alone rating, to D+ from C-. The revised rating maps to a baseline credit assessment (BCA) [...]

Posted in Banks, Credit Repair, SBI, Stocks Comments Off

Today’s chart is about how sectors have done relative to each other in 2011. Using the sector indexes, we plot a relative graph of the moves since Jan 2011. (Click for a larger image) Realty is the worst performer; Metals comes a close second last. FMCG is the only sector that’s positive. Incredibly, banks haven’t [...]

Posted in ChartOfTheDay, Charts, Credit Repair, Stocks Comments Off

The advance tax numbers, from an email I received: (Amts in Rs. Million. Divide by 10 to get Rs. Cr.) Mahindra & Mahindra 1700 1600 6% Bajaj Auto 2500 2400 4% Tata Motors 900 900 0% Central Bank of Indi 2200 2100 5% Bank of India 2500 2500 0% Bank of Baroda 6300 3500 80% [...]

Posted in Credit Repair, Stocks Comments Off

An after-note on a post I wrote long back on Jyoti Structures NCDs and Warrants (March 2011). Today’s the last date of the first period of exercise (if you hold the warrant) but it will go unexercised, because the exercise price is 120 and the share’s at 71. NCDs trade very thin, between 110 and [...]

Posted in Credit Repair, JYOTISTRUC, Stocks Comments Off

(From my article at Yahoo) The First Quarter of Financial Year 2011-12 ended in June, and with nearly all results in, let us see how we fared. I gathered the results of 950 companies, and as an important caveat, used consolidated results where available. * *  Most companies reveal only standalone results each quarter. Increasingly, [...]

Posted in Credit Repair, Results, Slider, Stocks, Yahoo Comments Off

One of the points I wrote in an earlier post (RCOM Shows You What’s Wrong With Corporate India: Veritas) was that RCOM had changed depreciation for telecom equipment from 10 years to 18 years. That bit is confirmed. From the 2008-09 Annual Report: From the 2009-10 Annual Report: (What might help find this kind of [...]

Posted in Credit Repair, RCOM, Stocks Comments Off

Moneylife writes about how RCOM is the "poster child of everything wrong with Corporate India". This is from a Veritas Report by Neeraj Monga and Varun Raj, from Canada. 1. They claim that RCOM promoter holding went from 38% to 63% silently through merger with a group telecom business, but that should be nullified. RIL [...]

Posted in Credit Repair, RCOM, Stocks Comments Off

It was kitchen appliance day too. TTK Prestige, a stock I’ve been tracking for a while now, has just hit another all time high at 3,032. Brilliant, I say. Yes, this stock has gone nuts, but what can you say when it delivers another 58% growth in Net Profit? And even the trailing 12 month [...]

Posted in Credit Repair, Stocks, TTKPrestige Comments Off