GRAUER AND WEIL -- ?HIDDEN VALUE
Printed From: The Equity Desk
Category: Investment Ideas - Creating winning portfolios!
Forum Name: Stock Synopsis
Forum Discription: A bried discussion of companies on very specific matters. Normally this is the prelude for further research as always members would be discussing quality companies with good management only
URL: http://www.theequitydesk.com/forum/forum_posts.asp?TID=2673
Printed Date: 05/May/2025 at 8:36pm
Topic: GRAUER AND WEIL -- ?HIDDEN VALUE
Posted By: hit2710
Subject: GRAUER AND WEIL -- ?HIDDEN VALUE
Date Posted: 16/Feb/2010 at 2:59pm
|
Grauer and Weil is a market leader in metal finshing sector. Listed on bse indonext, code no 505710. Cmp 67. Catering to almost all the companies in the automobile industry, GWL is among the larger manufacturers of electroplating chemicals and equipment. Taking into account the turnaround in the auto industry Grauer is likely to benefit as an auto ancillary play. Business: The company derives about 85 per cent of its revenues from the chemical division. It supplies finishing chemicals and technology to companies such as Hero Honda, TVS, Bajaj Auto, Escorts, Sundram Fasteners, Atlas, Hero Cycles, Siemens, L&T Defence and Railways. The company has about 45 per cent market share. GWL's engineering division caters to the auto industry and also to companies engaged in metal finishing. It derives about 15 per cent of the revenues from this division. Export : Having captured most of the market share in the domestic market, GWL is focussing on exports, which would be its growth driver. GWL has a range of collaborators — Serfilco of US, NDS of Japan, Hawkings Corporation of UK and Utikal of Germany — from whom it sources technology. The company also has a joint venture with Goema of Germany for developing recovery systems and effluent treatment systems. This has helped GWL to expand its product range. The company has also established a subsidiary Grauer and Weil Shanghai to try and establish itself in China. Value additions: GWL has been attempting to move to the upper end of the value chain, where margins are better. It has introduced a number of specialty metal-coating chemicals such as Koalex, Superspec and Ginplate over the year. GWL has also made a successful foray into niche markets of top coatings and final finishes.
Recently Grauer merged Bombay Paints with itself and the merger ratio was 1:1. And following this the equity increased from 12.79 to 22.67 crores and promoters stake rose from around 50 % to 69%. DEBT IS AROUND 90 CRORES AS ON MARCH 09. MARKET CAP IS AROUND 152 CRORES. The company has started a plant in Jammu and it has commenced commercial production since June 09 and it will help the company avail tax benefits. REAL ESTATE VALUE: GROWEL 101--- KANDIVALI, MUMBAI The company has Growel 101 mall which is a functional mall with a total planned capacity of 7.5 lac sq ft area in phases. Phase I with 1 lac sq ft is operational since 2005-06 and second phase of 3 lac sq ft is nearing completion. So effectively, around 4.5 lac sq. Ft area is available for use. POONA BOTTLING LIMITED This is a subsidiary of the company which catered to bottling for Pepsi and other companies but is more important for its real estate value. TECHNICAL VIEW: The stock has been in a consolidation phase since June 09 in an ascending triangle and recently gave a breakout to post a high of around 85 and since then has come down to current levels of 66-67. All time high was 218 around Nov 07 and since then the stock has been in a downtrend. VALUATION: LOOKING AT THE VALUE OF REAL ESTATE AROUND 7.5 LAC SQ FT IF CONSERVATIVELY VALUED AT AROUND 5000 RS PER SQ FT THE VALUATION COMES TO MORE THAN 350 CRORES AND IF POONA VALUE IS ADDED THEN IT INCREASES SOME MORE. TOTAL MARKET CAP IS AROUND 150 CRORES AND IF ONE ADDS DEBT OF AROUND 100 CRORES, THE BUSINESS OF THE COMPANY IS THERE FOR FREE WITH SOME CHANGE TO SPARE. Any one with any further info kindly share it. Disclosure: I hold a small position in the company. ------------- Stockmarket is a weird place. For every person who buys a stock there is a person who sells it and both think they are very smart. |
Replies:
Posted By: nav_1996
Date Posted: 16/Feb/2010 at 4:01pm
|
Merger with Bombay paints was detrimental to minority share holders. It just halved the minority shareholders value without bringing in much value.
This was my first impression. I did not do any number crunching. |
Posted By: hit2710
Date Posted: 16/Feb/2010 at 6:20pm
I saw some discussion of disgruntled shareholders on moneycontrol berating the company due to the merger. I think there is some definite hidden value and probably the promoters instead of buying from the markets merged Bombay Paints where they seem to have a lot of holding with Grauer.(Bombay paints had recently turned around and had been run up a lot) But according to me the above does not take away the value present in the stock although the promoters did not do a lot to inspire shareholders confidence. Hence a small position for me instead of a big holding. ------------- Stockmarket is a weird place. For every person who buys a stock there is a person who sells it and both think they are very smart. |
Posted By: Jaishrikrishna
Date Posted: 18/Feb/2010 at 5:44pm
|
This company has a mall in Kandivali, which has an area of about 1.25 lakh square feet, Big Bazaar and Cinemax are the current anchors there as the area is leased rental from this mall.They have got another 2 lakh square feet coming up under Phase III, which is likely to be completed in the current fiscal year.
With the completion of all the three phases, this company will have close to 6.25-lakh square feet area. This company has decided to use that lease model for revenues rather than selling the area. So assuming a lease rental of about Rs 75 (I am taking conservative side for corporate lease, other wise rentals in kandivali area are near about 100 rs /sq.ft) . So assuming a rental of about Rs 75 square feet, this would translate into annual rental income of close to Rs 50 crores, the current marketcap of this company is just about Rs 150 crores. So at the current valuation, the stock looks undervalued given the Rs 50 crores per annum inflows from leased rentals within a years time. This company also have has a 51% subsidiary called Poona Bottling Company. It was earlier the bottler for coke in Poona, it closed down operations in the year 2001. It has four acres of land in Poona and this company is building an IT Park there for which they have already submitted plans to the municipal authorities and they are waiting for approval of their plans. So revenues from this IT Park would be additional bonus for the company.its also based near the pune international airport so that will be another value unlocking. So given the fact that the current marketcap is just about Rs 150 crores, the company has a track record of uninterrupted payment of dividend for the last 15 years. In the last six years, they have given four bonuses to their shareholders. So given all these facts and the expected inflows in the years to come, the marketcap of Rs 150 crore looks less for this company. Acknowledgement: A special thanks to HITESH bringing this co. on ted, as living near its mall, was helpful to bring the above facts to the forum members notice. RGDS, JAISHRIKRISHNA ------------- Don't Buy and Hold, Buy and Homework / Fish see the bait,but not the hook; Men see the profit, but not the peril. |
Posted By: hit2710
Date Posted: 18/Feb/2010 at 6:28pm
|
Thanks Jaishrikrishna for your homework. Even if the company can manage 15 crores(one third of what u predict) per annum of annual rental, it amounts to 10% of market cap as annual income which is likely to be perpetual in nature.
From what I recall currently on 1 lac square feet, the company gets around 5-6 crores of annual rental income. ------------- Stockmarket is a weird place. For every person who buys a stock there is a person who sells it and both think they are very smart. |
Posted By: manish_okhade
Date Posted: 18/Feb/2010 at 9:50am
| Is it a real estate co or auto company? |
Posted By: hit2710
Date Posted: 19/Feb/2010 at 12:11pm
It is an auto ancillary co with real estate as a freebie or other way around. ------------- Stockmarket is a weird place. For every person who buys a stock there is a person who sells it and both think they are very smart. |
Posted By: EMANI
Date Posted: 19/Feb/2010 at 1:39pm
|
Hiteshji.....It is certainly a good pick. The only setback could be its high D/E Ratio which may further scale up for completion of the remaining phases of construction
------------- esn |
Posted By: new2investing
Date Posted: 19/Feb/2010 at 3:02pm
It is an auto ancilliary company spanning across a lot of other areas too like IT, real estate and even sports(that's what their site suggests). Not sure whether so much of diversification helps or not.
http://www.growel.com/index.html - http://www.growel.com/index.html
@Jai Shrikrishna ji, how does the occupancy of their mall in Kandivali looks like I mean is most of the area occupied or not at present? Also is the no. of footfalls comfortable enough?
------------- Learner... |
Posted By: Jaishrikrishna
Date Posted: 19/Feb/2010 at 4:45pm
THE PHASE I IS COMPLETED AND OPERATIONAL WHICH INCLUDES BIG BAZAAR AND CINEMAX MULTIPLEX, PHASE 2 IS UNDER CONSTRUCTION AND SHOULD BE OPERATIONAL THIS FISCAL, PHASE 3 WILL TAKE TIME SAY AROUND A YEAR AND HALF ------------- Don't Buy and Hold, Buy and Homework / Fish see the bait,but not the hook; Men see the profit, but not the peril. |
Posted By: excel_monkey
Date Posted: 02/Apr/2010 at 6:25pm
The promoters subscribed to Bombay Paints shares for Rs. 10 and later merged it with Grauer in a ratio of 1:1 which was quoting at around Rs. 60 at that time |
Posted By: excel_monkey
Date Posted: 04/Apr/2010 at 7:05pm
|
Field trip feedback: been to GROWEL101 today to study the progress
Phase II looks to be complete some of the leading brands like provogue, mochi, china wok, kailash parbat have been advertised as tenants. what I found worth pointing is the architecture which is different from any other mall I have seen in India looks like the launch is just a month or two away TEDies sp Jaishrikrishna living close by could add more |
Posted By: excel_monkey
Date Posted: 04/Apr/2010 at 8:10pm
|
As well as heard somewhere that Bombay Paints owns a prime plot in Chembur
can someone please confirm this? |
Posted By: photophobic111
Date Posted: 04/Apr/2010 at 9:52pm
| How is the competition and it's moat for its primary chemical business? |
Posted By: Rehan
Date Posted: 04/Apr/2010 at 10:06pm
|
This one looks interesting. If no more debt is required for the mall expansion business , then this business itself should start giving approx 15 Rs EPS ( 5-6 crores X 6.5 = 30-35 Crores/ 22 (Equity) = approx 15). Adding tho this existing EPS of 10 , total turns out to be 25 Rs. Major part of the income will be from lease which is a very safe and secured income which should give it much higher PE. Current price of 67 is discounting this EPS by around 2.7 times.
Any flaw with this work out ????
|
Posted By: excel_monkey
Date Posted: 04/Apr/2010 at 11:28pm
A lot could go wrong the mall could not succeed because of competition from the likes of Oberoi Mall which is located close by and is already a successful mall photophobic I have no idea about their chemicals business |
Posted By: Rehan
Date Posted: 04/Apr/2010 at 9:13am
I agree a lot can go wrong in any business. Competition if at all can only cause a dent in the lease rates . I think the organised retail push in India may help keep the rates stable if not higher. Even if there is a good mall nearby , I dont think it can create such a big problem . It may work out in its favor as well. It certainly will depend on how it is managed and the ambience they provide for the customers.
Going by the current rentals is what I said the stock looks attractive .
|
Posted By: Market Maniac
Date Posted: 23/May/2010 at 3:37pm
|
Brothers please note - G&W is taking a lot of debt to construct the mall. It will have to service it @ 12% (or even more)
Now commercial lease rental yields are <4%
So there is a negative carry. Actually the other business will end up paying for it.
I dont think there is any dispute that the Promoters are incompetent and insincere. Bombay paints was in BIFR.
|
Posted By: excel_monkey
Date Posted: 23/May/2010 at 6:36pm
The 12% they will pay would be on the construction cost (borrowed amount) where as the rental yield is calculated on the estimated market value which would be a lot higher (as the land is free) than the construction cost hence it should be positive on net level |
Posted By: Jaishrikrishna
Date Posted: 23/May/2010 at 6:46pm
|
yes, they have taken debt for construction of the mall, Here is the latest right from the spot, They have rented all the space to corporate brands, and the mall will be starting any time soon, they have made a tie up with the bank from where they have taken the loan, what they have done is initially say for atleast 1.5 to 2 yrs, part of the deposit and rent will directly deposited in the loan account, so that means there will be no stress on the balance sheet, indirectly we will not find any income from operations, and if there will be it will go to the bank, the actual story or say income or cash flow will generate only after a period of 2 yrs, but for that one has to be patient, this is what i have learnt till now, will update more after meeting the management staff. ------------- Don't Buy and Hold, Buy and Homework / Fish see the bait,but not the hook; Men see the profit, but not the peril. |
Posted By: excel_monkey
Date Posted: 23/May/2010 at 4:35am
Jaishrikrishna thanks for the info what kind of income they are expecting to generate from the mall? |
Posted By: Jaishrikrishna
Date Posted: 24/May/2010 at 5:39pm
|
Growels mall at kandivali - east ,floor wise details /sq ft for ground + 3floors
(MIND U THIS SURVEY IS ONLY FOR PHASE II, AND PHASE III WILL START LATER IN NOVEMBER WHICH AS MENTIONED BY SALES HEAD THAT THEY HAVE GIVEN IT TO SHOPPERS STOP, THEY HAVE STARTED GIVING POSSESSIONS IN CURRENT PHASE AND THE MALL WILL START ANY TIME SOON FULL FLEGED.)
Ground , first, second are for retails and third is food court and ampi theatre
Agreements confirmed and fitouts have started by Pantaloons, Mcdonalds,Dominoz,Reliance jewels, Reliance foot prints,Linc Pens,Spykar,Madamme, Enrich,Croma,Celio,Mochie,UCB,Kwality Dairy,Esbeda,Tanishq,Hidesign,Provogue,Peter England,Roxton,Reebok,Planet Sports,Fab india,Bibas,Jashn,Evok,Ashmima,Global desi, Al kabab, China town, Golden Chariot, sayonara, Time Zone, Origin.
I got hold of the maps floor wise so chalked out the following:
As per what they said that the rents / sq.ft are different for each floors.
Not believing in them we will take a conservative side that is 75 Rs PER SQ/FT.
This is the monthly Rent we can expect 22932825.
This is the annual Rent we can expect 275193900
Once the Phase III is complete, The additional income will get generated.
I hope this due diligence is upto satisfaction.
RGDS,
JAISHRIKRISHNA.
------------- Don't Buy and Hold, Buy and Homework / Fish see the bait,but not the hook; Men see the profit, but not the peril. |
Posted By: excel_monkey
Date Posted: 25/May/2010 at 9:07pm
|
excellent work Jaishrikrishna
Guys like you maintain the quality of TED |
Posted By: Jaishrikrishna
Date Posted: 28/May/2010 at 4:10pm
|
Grauer & Weil India net profit declines 68.91% in the March 2010 quarter
Sales rise 27.73% to Rs 67.99 crore
Net profit of Grauer & Weil India declined 68.91% to Rs 1.34 crore in the quarter ended March 2010 as against Rs 4.31 crore during the previous quarter ended March 2009. Sales rose 27.73% to Rs 67.99 crore in the quarter ended March 2010 as against Rs 53.23 crore during the previous quarter ended March 2009.
For the unaudited full year, net profit rose 27.84% to Rs 16.07 crore in the year ended March 2010 as against Rs 12.57 crore during the previous year ended March 2009. Sales rose 13.01% to Rs 246.96 crore in the year ended March 2010 as against Rs 218.53 crore during the previous year ended March 2009.
LOOKING AT THE FINANCIAL RATIOS OF F.Y.09, THE CO. HAS AROUND 67/- OF FREE RESERVES PER SHARE, ALSO THE PROMOTERS HOLDING HAS GONE UP, THANKS TO THE MERGER OF BOMBAY PAINTS.
LOOKING AT SEGMENT WISE REVENUES AND P/L , THE FIGURES ARE AS FOLLOWS:
CHEMICALS: 182 CRS V/S 157 CRS. OP.PROFIT UP FROM 27.64 CRS TO 34.83 CRS.
ENGINEERING: 14.24 CRS V/S 21.94 CRS. OP. LOSS DOWN FROM -2.71 CRS TO -1.11 CRS.
SHOPPERTAINMENT : 5.62 CRS V/S 5.44 CRS. OP PROFIT UP FROM 2.77 CRS TO 3.13 CRS.
PAINTS: 46.46 CRS V/S 39.63 CRS. OP. PROFIT UP FROM 2.35 CRS TO 3.95 CRS.
INTEREST OUT GO WAS: 9.44 CRS V/S 8.65 CRS.
IT WILL BE REALLY INTERESTING TO SEE THIS YEAR’S A.R. AND WHAT DOES THE MANAGEMENT SAYS.
------------- Don't Buy and Hold, Buy and Homework / Fish see the bait,but not the hook; Men see the profit, but not the peril. |
|||||||||||||||||||||||||||||||||||||||||||||||||
Posted By: Jaishrikrishna
Date Posted: 28/May/2010 at 5:15pm
|
THE FOLLOWING IS THE MALL VIDEO WHICH IS ABOUT TO OPEN:
http://www.youtube.com/watch?v=-v5ktSwstuA - http://www.youtube.com/watch?v=-v5ktSwstuA ------------- Don't Buy and Hold, Buy and Homework / Fish see the bait,but not the hook; Men see the profit, but not the peril. |
Posted By: Market Maniac
Date Posted: 28/May/2010 at 1:20am
|
Do you agree that the management is incompetent & dishonest (swap ratio of merger with Bombay Paints)?
They were plain lucky to be having real estate at historical prices.
How do you know that promoters having tasted blood, will not go for another merger with a group company to hike their stake further.
Also look at the redundant subsidaries of G&W (one of which is making a hydro power dam, by the way) to understand the management better.
|
Posted By: excel_monkey
Date Posted: 29/May/2010 at 4:06pm
|
I wonder how courts approved the merger ratio between the company and Bombay Paints
even a blind person can see that this is a rip-off 
|
Posted By: tejas
Date Posted: 29/May/2010 at 11:21am
I think the mgmt is very competent at being dishonest. If the swap ratio of merger with Bombay Paints does not convince small investors of mgmt intentions, nothing else will. |
Posted By: excel_monkey
Date Posted: 25/Jun/2010 at 7:12pm
|
Jaishrikrishna
Has the mall opened?
|
Posted By: Jaishrikrishna
Date Posted: 25/Jun/2010 at 10:19pm
|
NOT YET, WILL VISIT THEM ON MONDAY AND UPDATE.
RGDS. ------------- Don't Buy and Hold, Buy and Homework / Fish see the bait,but not the hook; Men see the profit, but not the peril. |
Posted By: go4sheel
Date Posted: 25/Jun/2010 at 11:24pm
|
How much rental income the company is getting from the mall...?
According to Ashsih Chugh in Nov 2007: This company has a mall in Kandivali, which has an area of about 1.25 lakh square feet, Big Bazaar and Cinemax are the current anchors there. They last year derived a revenue of about Rs 5.2 crores as leased rental from this mall. The construction for Phase II of this mall is going on and it is likely to be completed by May-June of next year. So total area of the mall after Phase II would be about 4.25 lakh square feet. Then they have got another 2 lakh square feet coming up under Phase III, which is likely to be completed in the last quarter of FY08-09. So with the completion of all the three phases, this company will have close to 6.25-lakh square feet area. This company has decided to use that lease model for revenues rather than selling the area. So assuming a lease rental of about Rs 75, I am told the rentals there would be close to Rs 125. But just to be on the conservative side, assuming the anchors would pay less rental and the other people would pay more rentals. So assuming a rental of about Rs 75 square feet, this would translate into annual rental income of close to Rs 50 crores, the current marketcap of this company is just about Rs 200 crores. The revenues from metal finishing business are close to Rs 150-155 crores along with the profit of about Rs 8 crores from that business. So at the current valuation, the stock looks undervalued given the Rs 50 crores per annum inflows from leased rentals after two years. This company also have has a 51% subsidiary called Poona Bottling Company. It was earlier the bottler for coke in Poona, it closed down operations in the year 2001. It has four acres of land in Poona and this company is building an IT Park there for which they have already submitted plans to the municipal authorities and they are waiting for approval of their plans. So revenues from this IT Park would be additional bonus for the company. |
Posted By: excel_monkey
Date Posted: 25/Jun/2010 at 11:38pm
Thanks man for the update
|
Posted By: Jaishrikrishna
Date Posted: 25/Jun/2010 at 10:05am
That is nearly right, but he has not mentioned that the first 2 years the whole rental income will go to the bank as per their arrangement with the bank for clearence of the loan amount, and there will be no income generated then but the debt will get on cleared every month so thats a good model they have worked out, not stressing the balance sheet, once it starts will come to know the walkin,Don't know about their poona space much, will request tedis over there to do the diligence if possible, will keep on updating. Rgds. ------------- Don't Buy and Hold, Buy and Homework / Fish see the bait,but not the hook; Men see the profit, but not the peril. |
Posted By: go4sheel
Date Posted: 28/Jun/2010 at 11:12am
|
How does the company look on valuation front?
Can it be a mulitbagger? Mumbai, June 23 Cable Corporation of India will develop 3.5 million sq ft of residential and commercial space at Borivali on the outskirts of Mumbai. The Rs 1,000-crore project will be commissioned on a 22-acre land parcel where the company used to make high voltage cables. . The factory is in the process of being shifted to a unit in Nashik which makes low voltage cables. Mr Hiten A. Khatau, Chairman and Managing Director, told Business Line that there had been good response to the soft launch by the associate company - CCI Projects - which is promoting the project. It has received 172 bookings for about two lakh sq ft. Asked if plans were under way to develop the land bank held by the Khatau family, he said the company was also looking for acquisitions and the real estate business would form another revenue stream. Revenues expected from this project are close to Rs 2,500 crore over seven years. On project funding, Mr Khatau said the company had tied up with HDFC for construction finance and the balance would come by way of equity of about Rs 30 crore for the first phase, besides internal accruals. Mr Harjith Bubber, Managing Director, CCI Projects, said the project had been designed by US-based architect firm, Gensler. It has been conceived as a mixed-use development with retail, commercial, hospitality, entertainment and cultural elements. The entire project will be completed in phases over five-seven years, with the first phase (part of the residential development) expected to be ready within 36 months. The total residential component of the project would be two million sq ft, commercial 2-3 lakh sq ft and retail 0.75 million sq ft. The initial bookings made for the residential segment were at prices between Rs 6,750 and Rs 7,650 a sq ft, he added. Mr Khatau said the plant and machinery of the Borivali facility would be shifted to Nashik within 12 months. There would be a three-month lag in high voltage cable production, but the company would make good the drop by ramping up its low voltage cable capacities. Forty-seven employees had accepted the voluntary retirement scheme offered last month, he added. |
Posted By: go4sheel
Date Posted: 01/Jul/2010 at 1:10pm
| when will the rental income or Rs.50 crore flow into the accounts...? will it be added to bottomline? |
Posted By: sureshbazi
Date Posted: 16/Aug/2010 at 10:34am
|
Mayur Uniquoters, Manjushree techno and now Grauer great going Hitesh. Grauer is crossed its earlier high of 85 and looks like soon it will cross 100 good volume. ------------- 'It is only when you combine sound intellect with emotional discipline that you get rational behavior.' – WB. |
Posted By: Jaishrikrishna
Date Posted: 17/Aug/2010 at 1:21pm
Well, looks like as the opening of its mall is coming near, there is good price action.  ------------- Don't Buy and Hold, Buy and Homework / Fish see the bait,but not the hook; Men see the profit, but not the peril. |
Posted By: India_Bull
Date Posted: 17/Aug/2010 at 8:11pm
|
In these kindd of stocks there is no value hidden, it's being discovered and priced as soon as Ashish Chug recommends it. ------------- India_Bull forever Bull ! www.kapilcomedynights.com |
Posted By: hit2710
Date Posted: 17/Aug/2010 at 8:16pm
So essentially you need to unearth the stock before ashish chugh does  ------------- Stockmarket is a weird place. For every person who buys a stock there is a person who sells it and both think they are very smart. |
Posted By: basant
Date Posted: 17/Aug/2010 at 9:08pm
|
Let us not promote the front runners on TED. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: India_Bull
Date Posted: 17/Aug/2010 at 10:01pm
|
Yes Basantjee, I am feeling sad as my favorite stocks are getting expensive day by day.
------------- India_Bull forever Bull ! www.kapilcomedynights.com |
Posted By: excel_monkey
Date Posted: 08/Sep/2010 at 8:40pm
|
http://www.premiuminvestments.in/reader-s-nook-46892/112/Grauer-weil.html
Please see the link which says that the Bombay paints has 1.5 acres of land in Chembur |
Posted By: Jaishrikrishna
Date Posted: 23/Sep/2010 at 11:35am
TIME TO BOOK PROFITS, THIS ONE IS ON BULLS EYE  ------------- Don't Buy and Hold, Buy and Homework / Fish see the bait,but not the hook; Men see the profit, but not the peril. |
Posted By: sureshbazi
Date Posted: 23/Sep/2010 at 11:56am
|
I think it is long way to go. still lot of stem left. though volume is high today one or two days it might make temp high then consolidate for a while before taking next leg. Market cap still not high considering the value. ------------- 'It is only when you combine sound intellect with emotional discipline that you get rational behavior.' – WB. |
Posted By: excel_monkey
Date Posted: 10/Nov/2010 at 7:52pm
Good job Jaishrikrishna 
|
Posted By: kushal.masand
Date Posted: 17/Nov/2010 at 1:10am
| due u think that a pe re-rating will happen in this stock..??? |
Posted By: excel_monkey
Date Posted: 17/Nov/2010 at 1:25am
Jaishrikrishna is the guy on this one
|
Posted By: kushal.masand
Date Posted: 17/Nov/2010 at 2:10am
|
jai sir..... the ball is in your court.... by member_profile.asp?PF=7984&FID=38 - excel_monkey : Jaishrikrishna is the guy on this one Originally posted by kushal.masand due u think that a pe re-rating will happen in this stock..??? |
Posted By: Jaishrikrishna
Date Posted: 17/Nov/2010 at 6:53am
As written earlier, this one is for a patient investor, Their mall has started filling in, shops have not yet opened full fledged as the fit outs are in progress, but it is good to see that each and every corner of the mall has been used / utilized and rented out, not a single shop has been left behind, i personally keep on going there, their third phase is in progress, which they have rented out to Shoppers Stop, that is the last phase under progress and it is huge. Technically stock price has broken down from a symmetrical triangular pattern and has support near 79-80, ones it reaches there i might consider it buying again. Wrm Rgds, JAISHRIKRISHNA. ------------- Don't Buy and Hold, Buy and Homework / Fish see the bait,but not the hook; Men see the profit, but not the peril. |
Posted By: kushal.masand
Date Posted: 16/Jan/2011 at 2:31am
|
sir u said that u may buy once it reaches 80... currently below that.... wat do u say knw...??? |
Posted By: excel_monkey
Date Posted: 11/Dec/2011 at 3:06am
|
Jaishrikrishna any update on this one
Sep numbers were up but was this because of the rental income? ------------- I have a vested interest in the stocks I discuss, therefore I would request you to kindly consider my comments with a pinch of salt and do your own due diligence |
Posted By: Jaishrikrishna
Date Posted: 12/Dec/2011 at 2:34pm
Its running good, but i stopped following it once they decided to split the shares, it was unnecessary. ------------- Don't Buy and Hold, Buy and Homework / Fish see the bait,but not the hook; Men see the profit, but not the peril. |