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basant
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   Posted: 21/Dec/2006 at 10:26pm |
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Demerger is in Jan so it carries the real estate biz and you would get it if you buy today.
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prosperity
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Posted: 21/Dec/2006 at 11:02pm |
Basantji, then what does following mean ?
1. Effective Date for scheme of demerger
Upon satisfaction of the conditions precedent to effectiveness of the scheme of arrangement (Scheme) between the Company and Indiabulls Real Estate Ltd (IBREL) under Sections 391-394 of the Companies Act, 1956, in terms thereof, the Board of Directors of the Company has taken on record December 20, 2006 as the 'Effective Date' for the Scheme.
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basant
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Posted: 21/Dec/2006 at 11:10pm |
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This means demerger date is gone but I saw on Tv that they set jan 9 as the date for demerger maybe that is the record date and the company has gone into no delivery. I am not sure really.
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prosperity
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Posted: 21/Dec/2006 at 11:20pm |
if its ex-real estate stock then y was it up 10% even though its ex-real estate stock ?
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xbox
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Joined: 10/Sep/2006
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Posted: 21/Dec/2006 at 5:27am |
well!! I have little new to say now. I did breakup analysis long before this event. As member know that I am not very bullish in real estate at current valuations. I picked Indiabulls due to financial operations. Broking and real estate is side benefits.
If one is bullish on financial, then IBFL offers great benefits. IREL will have very high quality management. It will be run not by Indiabulls promoters but by Fallathon, which has more than 50% stake. It will have biggest vision among sector companies. One day mortgage and consumer finance business will be demergerd and it will be run by LNM and Fallathon guys.
I envisage some new business from IBFL very soon as they collected huge money from recent preferential allotments.
All in all, IBFL is like a multi-serving dinner. First dish on the table and many more to come.
But weak heart, please take u turn.
Edited by vipul - 21/Dec/2006 at 6:01am
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Don't bet on pig after all bull & bear in circle.
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vip1
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Posted: 21/Dec/2006 at 9:29am |
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Agree with you VIPUL, one should buy Indiabulls for its core business the rest is a bonus.
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xbox
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Posted: 26/Dec/2006 at 1:53pm |
Excerpt from Head of Research at Ambit Capital ....
IBFL values 690 to be precise, 335 is coming from the brokerage plus the retail loan space because retail loan space is growing at a very rapid pace and what we have looked at the scenario is close to 5000 crore by 2009, which has recently started. Capital is not going to be a constraint, if you look at the debt equity of the company, it is extremely low, it is less than one. So 335 for the financial business and another 355 is for real estate business out of which 180 is coming from the SEZ and the rest is from the Mumbai properties. Another factor is the financial services, which itself is moving at a rapid pace, plus the margins are very high, in fact in the range of the yields in the range of 22-30% in the retail loan space.
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Remember When RIL was demerged they valued sum of parts to 950 or so. Now after 1 year, it valued at 1200 + 450 + x + y + 20 = 1670 +x + y + z (or so). What I am trying to say is analyst are generally conservative on such issues. I am waiting for sharekhan report on such issue (if any). Going forward I see IREL being top sector pick for FIIs as ppl have seen wealth creation at IBFL. There will be competition of prices between IBSL and IREL.
But best piece is yet to fork-out. It is loan/mortgage business. I foresee some FII (may be Goldman sacs) controlling broking business near medium term. I am also keen to see next unrelated move.
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Don't bet on pig after all bull & bear in circle.
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basant
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Posted: 26/Dec/2006 at 2:57pm |
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Vipuluji you are absolutely bang on. ALso brokerages never set targets that are 50% away from the current price they keep increasing it gradually. I have personally followed so many companies that by the time you realise the stock has been a 5 bagger with around 10 targets in between - all upgrades. God knows why they don't take a long term view and say Ok X at Rs 100 can go to Rs 500 in 3 years. Instead they would keep raising the target each quarter.
Edited by basant - 26/Dec/2006 at 3:00pm
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