BUSINESS
Margin of safety works, IPOs (often) don’t: Key investing lessons from 2018
The concept of margin of safety, articulated by the father of value investing Benjamin Graham, has not lost its relevance even after 90 years of being first proposed.
BUSINESS
Shanthi Gears: Buyback to drive earnings and improve capital efficiency
Shanthi Gears, a leading supplier of industrial gears, is going through a difficult period as a result of low demand.
BUSINESS
Apollo Pipes: A favoured small cap of Dalal Street’s smart investors
The company is doubling its capacity from 53,000 tonnes to 100,000 by the end of FY20.
BUSINESS
Quick take|Indian steel — on shaky ground
Steel companies face the heat as buoyant Chinese production puts pressure on steel prices
BUSINESS
Here’s how ABB’s global exit from power grid business will benefit Indian investors
BUSINESS
Datamatics Global Services: Will investors make money out of this demerger story?
Separate listing of Lumina Datamatics could still offer about 18% gain for shareholders
MONEYCONTROL-RESEARCH
Quick Take | Release of pledged promoter shares in Sterlite Technologies could ease investor worry
The other key development that helped build positive sentiment was the news that the telecom regulator is preparing the ground for the rollout of 5G technologies by August 2019.
BUSINESS
Vedanta: Copper smelter restart could boost valuations
Since the crisis erupted in May this year, nearly Rs 30,000 crore of its market capitalisation had been wiped out.
BUSINESS
Indian Energy Exchange: Buyback is likely to be value accretive for shareholders
Our calculations suggest that at the current market price, even if the company is able to utilise 50 percent of cash on its books, it would be in a position to buy back close to 4.5 percent of its paid-up equity.
BUSINESS
India’s risk premium increases, that’s bad news for equities
India's equity risk premium has gone up from 2.9 percent in November this year to 3.4 percent in the first week of December
BUSINESS
Indian Energy Exchange: Trading with higher volumes
Directionally, with the improvement in the transmission infrastructure, evacuation facilities and growth in power demand, exchanges would have a higher share. And IEX which has a market share of close to 97 percent would be one big beneficiary of this growth.
BUSINESS
IRCON International: An attractive bet
BUSINESS
Here’s how engineering cos reinvent their biz as opportunities shrink
This shift will provide diversification and scale but help garner higher margins and ensure sustainability for many of these companies as the competitive landscape changes
MONEYCONTROL-RESEARCH
Defence sector Q2FY19 review: growth prospects improving
BUSINESS
Salasar Techno Engineering: A high quality smallcap trading at attractive valuations
The stock is currently trading at 9.6 times FY19 estimated earnings, which is quite reasonable for a company that is growing and has strong return ratios
BUSINESS
GE T&D India: Battling the slowdown
A lot of pure transmission and distribution (T&D) players are increasingly finding it difficult to cope up with the drop and possible slowdown in transmission capex, particularly in the conventional energy sector.
MONEYCONTROL-RESEARCH
Tata Steel Q2 review: Capacity building initiatives, strong pricing trend prove beneficial
Thanks to the operating efficiencies kicking in because of the high scale, the company gained in terms of operating margins.
BUSINESS
Tata Power: SC allowing compensatory tariff could be a game changer
Tata Power's Mundra plant has a capacity of around 4,000 MW that had become unviable because of the rise in cost of generating power
BUSINESS
Lakshmi Machine Works share buyback: A strategy to reward shareholders
Since May this year, the stock has fallen by around 40 percent from Rs 9,383 to around Rs 5,667. It is currently trading at 28 times its FY19 annualised earnings
MONEYCONTROL-RESEARCH
Tata Sponge: Acquisition of Usha Martin could prove value accretive
While Tata Sponge partly missed capitalising on the up cycle in the steel industry, the move now to acquire Usha Martin’s value-added long products steel business could prove to be shot in the arm.
BUSINESS
JSW Steel Q2 review: Keep expectations low near term
Higher inputs prices or raw material prices for iron ore, coal and others such as electrodes pose a threat for steel manufacturers.
EARNINGS
Sterlite Technologies: A compounding machine
Despite strong earnings visibility, the stock has fallen recently, thereby rendering valuation far more realistic
BUSINESS
Adani Ports & SEZ: On a strong growth trajectory
With better volumes and right cargo mix, utilisation will further improve and should lead to improvement in margin and return ratios, which would support earnings and valuation
BUSINESS
This infra stock is offering deep value; should you buy?
The company has cleaned up its balance sheet, has ample liquidity, is sitting on a huge order book and its projects are well funded
