Joined: 01/Jan/2006
Location: India
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Posts: 18403
Posted: 13/Sep/2008 at 3:18pm
We are bruising the old wounds!!!
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Joined: 14/Oct/2007
Location: India
Online Status: Offline
Posts: 140
Posted: 29/Oct/2008 at 8:34pm
Ted XI may need some changes. For one, Dish TV ought to go. Not because its price has fallen much but because its investment thesis appears broken now. It is hard to believe it will maintain its leadership position because of better funded competitors with better "perceived" customer service (which is the most important thing in the dth business). Its fund raising plans and rights issue are in trouble. Do we still believe in the investment thesis and its break even plans?
Ted XI has undergone brave changes in bull market. With fundamentals changing some and prices down so much, there must be more stocks worthy of Ted XI.
I would second that. Dish TV should not be part of TED XI. Too much competition and all players will keep loosing money.
Also, out of Voltas and Blue Star we need to have one as they have overlapping business and will have strong correlation. Consumer AC demands as well as cooling demand fron new construction we go down. We need to search for another engineering solution theme. May be BHEL (power), Thermax (power, environment)
Joined: 06/Sep/2006
Location: India
Online Status: Offline
Posts: 5966
Posted: 29/Oct/2008 at 11:55pm
There are many TED XI players where PEG is considerably lower than 1, that is prices have corrected far more whereas fundamentals have changed a bit(that is growth rate has gone down a bit).
So, a total revamp of TED XI is not at all required or desirable but where fundamental scenario has taken a severe beating, there one may need to relook. Let's not paint all with the same brush.
The most important quality for an investor is temperament,not intellect.A temperament that neither derives great pleasure from being with the crowd nor against it
Specifically re. Dish TV, does the actual appearance of competition alter the fundamentals? Competitors were assumed from the start, but their ability to grab market-share was guesswork at the time. Does deterioration of financials count as fundamentals? It could be temporary if the promoter takes it as a matter of prestige?
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