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KnackChap

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2 hours ago, LordSpymaster said:

There's a good article in TOI Plus regarding the LIC IPO if anyone's interested.

 

Key points:

  • For almost two years, India has steeled itself for a gargantuan task: readying the country’s premier insurer — with nearly $500 billion in assets and a valuation estimated as high as $203 billion — for what could become its biggest-ever stock listing. LIC’s debut will test the depth of the nation’s capital markets and global appetite for its state-owned crown jewel.
  • Bankers say global investors worry about the autonomy of an institution regularly pressed into service to rescue teetering banks and floundering state assets. Local investors are sceptical that the 65-year-old firm can compete against up-and-comers
  • A knockout listing could see LIC raise as much as $10 billion from the IPO with a minimum dilution of 5%
  • Sitharaman has set a March deadline for the listing. If investors agree with the $203 billion valuation sought by the government, LIC would compete against India’s biggest companies
  • In March 2020, LIC’s property holdings were internally valued at about $5.8 billion, according to a person with knowledge of the matter, though it’s unclear whether all of this was adjusted to current market rates

The DHRP is expected by Jan end, and definitely before the budget season. So keep an eye out for it.

Il just apply and if got the lot will sell instantly , dont like owning PSU's no matter how big. 

53 minutes ago, KunjanPSD said:

As expected, beating all around.

PF has been bleading with Hikal, Laurus, Ingrevia and Mastek taking a thrashing.

 

Coming back to what I said earlier, it's time to build quantity, post Q4FY22 profits will show up.

 

Hard to see Hikal though. CG issues will plague this for quite a while.

Hikal has some really bad corporate governance issue (looks like from the current way of handling things) , wont look at this counter for now.

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1 hour ago, sumanth said:

Entered Hikal today in small quantity let’s see how it goes. 

And hamara kya? Mere toh lag gye.

I still have some buffer, hopefully this incident doesn't affect their contracts.

 

Update: Have reduced my position in Hikal by more than 50%.

The lack of disclosures are troubling me and I didn't want to just avg. down.

Tracking position left with avg. of 200, will enter back in future if things turn better.

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22 minutes ago, KunjanPSD said:

And hamara kya? Mere toh lag gye.

I still have some buffer, hopefully this incident doesn't affect their contracts.

I didn’t even study about the company just entered. I just know there was a mishap. Just saw the dip was huge today compared to yesterday and bought few. 

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1 hour ago, sumanth said:

I didn’t even study about the company just entered. I just know there was a mishap. Just saw the dip was huge today compared to yesterday and bought few. 

I actually do think this will pass over but I didn't want to have a very big allocation. Will evaluate when management actually discloses information.

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7 minutes ago, dante77 said:

Hikal seems tempting now but don't know their business much. 

Basically Agrochem and Pharma/API biz.

 

In order to safe few crores the person in charge resorted to unsafe disposal of chemical byproduct which led to death of 6 people.

 

Company released a statement saying the tanker which left their facility was different from the one which was caught which is true but the contractor they chose was really shady and didn't even have the right licences.

 

Now the MD, who is responsible for this, didn't show up even after a notice and is currently absconding. The same MD used to be present in concalls as well.

 

I don't think this was done by the upper management, probably MD and the few others but company has been tight-lip with no disclosures which is really a red flag for me.

Says a lot about their culture and not just the accused people.

Hikal had 8% allocation in my PF and now is somewhere between 3-4%. 

I do think company will eventually sort this out but till the time company gives clarity, fair disclosures and assurances about the integrity of their current contracts, won't jump back in.

 

Sequent, Strides and now Hikal.

These three have taught me a lot in last one year. Fortunately, didn't book loss in either of them.

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2 hours ago, sumanth said:

I didn’t even study about the company just entered. I just know there was a mishap. Just saw the dip was huge today compared to yesterday and bought few. 

 

21 minutes ago, dante77 said:

Hikal seems tempting now but don't know their business much. 

Stay away if you dont know the business , esp with such shady corp governance practices. better opportunities out there. 

In the chemical space this is actually a bit common but no clarity isn't.

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2 minutes ago, Mr. Comingle said:

Unless I'm mistaken MD is Managing Director. It doesn't get more upper management than this. 

Multiple director levels.

But anyway, disclosures are what I was looking for and they didn't give any.

I will put the capital again if the management is forthcoming and is able to change the perception, even if I have to buy above my sell price. Otherwise, not interested.

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3 minutes ago, rushaboswal said:

What happened here execpt the turkey problem ? 

Pretty much that only.

I just trimmed my position, still 4% allocation left.

Have to see how the management reacts and goes ahead because Turkey was meant to be their main export bases even if it was only contributing 10% to the topline.

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