The market crashed big time today. But it was only big in the context of recent history: this is really the biggest fall since the August one day fall. But it’s reached an important point – it’s covered a “gap” that we had seen open for a long time. The good news is: this gap could help act as a support level – for those that missed out buying then, […]
India’s GDP for the December 2015 quarter grew by 7.3% on what seems to be love and fresh air, because nothing else seems to be able to corroborate this kind of data. But it’s there and that’s what we have so at Capital Mind we’ll do our graphs.
Real GDP Grows at 7.3% while Nominal Growth Jumps to 9%, We Don’t Know How
Apparently the Real GDP (net of inflation) is growing […]
Kitex Garments (KGL) is a company that seems to never go out of the news, though you’ll be forgiven for never even hearing about the company. It’s run by Sabu Jacob, in Kerala. Why the interest in a company that makes cotton undergarments for kids, and sells them abroad, and managers to run a labour intensive company out of Kerala?
Answer: He generates awesome ROCE (Return on Capital Employed) in […]
Today Vidya Krishnan of the Hindu decided to write a story. This was a story that apparently caused some random panic among stocks of the pharma variety because OMG THE US GOVERNMENT HAS BANNED INDIAN API IMPORTS!
The article started out like this:
In a move that will further inflate prices of drugs in the United States — already a burning issue in the current […]
Dosa Economics, Avoiding Brazil Steroids, Dissing Tariffs and Letting Banks Revalue Assets: The Raghuram Rajan Speech
Rajan’s recent speech in Delhi offers great tidbits to consume and see how the RBI is thinking.
Learning from Brazil: Don’t Take the Stimulus Steroid
Perhaps Brazil offers a salutary lesson. Only a few years ago, the world was applauding the country’s thriving democracy, its robust economic growth, and the enormous strides it was making in reducing inequality. It grew at 7.6 percent in 2010, and had […]
Premium: Aegis Logistics Results Show A Promising Two Years Ahead With Throughput and Capacity Expansions
Aegis Logistics had an interesting quarter. While the EPS was “down” (from 1.17 in December 2014 down to 0.9 now) the reason is that there was a 30 cr. gain in the Dec 14 quarter when they sold stake in a subsidiary. (They sold 40% in their Singapore subsidiary to ITOCHU Petroleum)
They made a profit of Rs. 36 cr. versus Rs. 25.6 cr. if you ignore that, so they seem to have done very well.
In the first nine months, they have made Rs. 82 cr. of profit, which, if you net out the one time gain, will show a 39% increase year on year.
If you’re new to Aegis – they do liquid and gas logistics at ports. They have operations in Kochi, Mumbai, Pipavav and Haldia. They are expanding to Kandla, and have space in Mangalore as well. They also have a retail gas distribution network in 7 states, commercial LPG operations and also sourcing/handling abroad through a Singapore subsidiary.
We’re a the halfway mark for Nifty company results – 25 of the 50 have announced earnings, and the status is that earnings are not growing fast at all (just 2.5% year on year, on aggregate).
What shines out on the positive side:
The Bank of Japan now went even more ballistic . Not that they weren’t earlier, but now they’ve upped the ante a little bit more. The BOJ today moved interest rates to the negative zone – from +0.1% to -0.1%. Meaning, if banks deposit money with the BOJ, they will get back less than they put in.
And the Yen went down with the USDJPY crossing 120.
Indigo’s stock has fallen over 25% in two days. While I’ve been very appreciative of the aviation business and Indigo in particular, this is time to take stock. And we have been long at Capital Mind Premium, though we were out at 1160 due to a trailing stop loss. But the stock fell from the 1200 levels to 900! What happened?
(Note: this is not a stock recommendation; it’s merely […]