1. FAIRFAX LETTER TO SHAREHOLDERS
Prem Watsa is referred to as the Warren Buffet of Canada and has over a thousand million dollars invested in India for the remaining four years & has been constructing an India portfolio. Fairfax India that is Prem Watsa’s India enterprise noticed its e-book value of India biz grew by way of 15% CAGR closing three years vs. Nifty nine% CAGR in the same duration. The letter also talks about Fairfax India CEO Harsha Raghavan branching out on his very own to begin his fund and his deputy Sumit Maheshwari taking over as the brand new Chief.
The letter mentioned how in 2018, their unlisted investments did much higher than the listed ones. IIFL, certainly one of their key investments, fell sharply in 2018 due to a liquidity crisis. Still, their faith within the inventory stays unfazed, additionally see as a 3-way demerger beforehand as price unlocking activity. Bangalore Airports which is likewise one of their investments, may also see as a minimum one real property monetization interest in 2019. Lastly and maximum surprising detail of the letter became HDFC veteran Paresh Sukhtankar as a marketing consultant to manual on their investments in Catholic Syrian Bank.
INDIA PORTFOLIO
National Collateral Mgmt Svcs: 89.Five%
IIFL Holdings: 26.5%
Fairchem Specialty: 48.Eight%
Sanmar Chem: 30%
NSE: 1%
Saurashtra Freight: 51%
Bangalore Airport: 54%
Catholic Syrian Bank: 19.7%
2. M&A IN THE PAPER SECTOR: Orient Paper inattention
In an ET NOW exceptional, resources suggest approximately a possible deal brewing within the paper area. Promoters of Orient Paper, a CK Birla group agency, is trying to exit from the cyclical paper commercial enterprise. Sponsors are said to be in talks with massive paper manufacturers to promote their commercial paper enterprises. Century Paper & ITC’s paper department stated to be leading the race for Orient’s paper department. Bids for the paper are reported to have available in a range of `seventy-five/proportion for the paper enterprise. The employer refused to comment on the ET NOW newsbreak. The deal is slated to take place in 2 levels.
1. Promoters probably demerge paper and real estate/investments in a 1:1 ratio.
2. Post sale of the paper department, promoters possibly infuse price range into the noncyclical customer durables business.
3. JUBILANT LIFE ABOVE 800
Jubilant lifestyles inventory recovered >8.5% from Friday low of `745/proportion as brokerage says that caution letter received by way of the organization from USFDA for its Roorkee facility is fully on expected lines as the plant became categorized as ‘Official Action Indicated (OAI). It is a solid dosage formulations production facility placed at Roorkee, India, with components to the US.
ICICI sec doesn’t expect any effect on existing commercial enterprise from this facility, but new approvals may be withheld, impacting the growth until resolution. Macquarie says we might accumulate the stock on any weak spot inside the inventory price. Jubilant stays our pinnacle select in the midcap pharma space. We hold Outperform with a Target charge of `1068/proportion.
4. WHAT HDFC MUTUAL FUND BOUGHT & SOLD IN FEBRUARY 2019
HDFC Mutual Fund manages equity property worth Rs 1.Four lakh crore invested in a portfolio of 364 securities. India’s largest asset supervisor had maximum publicity towards Financials, Utilities, and Industrials for the month-long gone by way of. They offered the most in Financial and Industrial names and decreased publicity closer to Energy and Consumer Staples. Here’s what they sold and offered in February 2019
5. INDIA CEMENTS STOCK GAINS 7%, AN ET NOW IMPACT!
The Indian Cement area is in recognition, especially South primarily based Cement companies within the backdrop of a couple of charge hikes undertaken by those players. Industry veteran N. Srinivasan of India Cements joined ET NOW exclusively to speak approximately the call for pricing & usage developments within the cement & construction enterprise within the Indian market.
Some key takeaways from his interview are:
1. Execution of road tasks to select up momentum going ahead
2. Loss of fee over the last two years convalescing now
3. Don’t assume AP Govt has requested cement manufacturers to cut charges
4. Increase in the call for from infra, roads, bridges that are taken into consideration non-trade
5. Seeing in pick up in the request for from housing, infra sectors
6. Expect a blended call to preserve, don’t suppose it’s miles election-associated
