*Some interesting latest Data points*
- Debt has come down
- You would be surprised to know many companies have become debt free.
- Though PE multiple is historically highest but enterprise value to cash flow is 15.8 times which is historically average low in last 20 yrs (Avg has been generally 16)
- In 2008, enterprise value to cash flow was 25, so from here also there is a 60% value discount.
- Debt to equity ratio is just 0.16, we have never seen this India.
- Bonds yield GSEC is giving 6.2% and if you inverse the cash flow from enterprise value i.e. cash yield is 6.3%, rarely in India we have seen cash earnings yield higher than bond yield in last 20 years.
- In 2008 bond yields were 8% and cash yields were 4%, 50% discount still there.
- Many corporates are planning to double there capacity & that too without leveraging them.
_*- In 2003 to 2007 we had the best bull run but atleast in a year we have seen 15% correction every year or twice a year. So 15% to 20% correctiom is very much possible in any bull market run.*_
- It is not that market might not do well if the FED rises rates infact in interest rate rise cycle if you observe from bottom to top cycle market seems to do well as bond lose value in interest rate rise cycle so allocation increases towards equity and economy is also booming. Rising interest rates are good for market, it's when it touches the peak then it become little worry some.
- Debt has come down
- You would be surprised to know many companies have become debt free.
- Though PE multiple is historically highest but enterprise value to cash flow is 15.8 times which is historically average low in last 20 yrs (Avg has been generally 16)
- In 2008, enterprise value to cash flow was 25, so from here also there is a 60% value discount.
- Debt to equity ratio is just 0.16, we have never seen this India.
- Bonds yield GSEC is giving 6.2% and if you inverse the cash flow from enterprise value i.e. cash yield is 6.3%, rarely in India we have seen cash earnings yield higher than bond yield in last 20 years.
- In 2008 bond yields were 8% and cash yields were 4%, 50% discount still there.
- Many corporates are planning to double there capacity & that too without leveraging them.
_*- In 2003 to 2007 we had the best bull run but atleast in a year we have seen 15% correction every year or twice a year. So 15% to 20% correctiom is very much possible in any bull market run.*_
- It is not that market might not do well if the FED rises rates infact in interest rate rise cycle if you observe from bottom to top cycle market seems to do well as bond lose value in interest rate rise cycle so allocation increases towards equity and economy is also booming. Rising interest rates are good for market, it's when it touches the peak then it become little worry some.
Adani Enterprises’ Subsidiary Signs Share Subscription Agreement With Flemingo, MTRPL; Shares Advance
Shares of Adani Enterprises Ltd. rose nearly 3% to Rs 1,480 apiece after the company said that its wholly owned subsidiary Adani Airport Holdings Ltd. signed share subscription agreement with Flemingo Travel Retail Pvt (Flemingo) and Mumbai Travel Retail Pvt (MTRPL) for the purpose of strategic partnership to operate duty free outlets in airports and seaports.
In an exchange filing, Adani Enterprises said that the strategic partnership would allow the company to operate duty free outlets in airports and seaports by Flemingo and Adani Airport Holdings Ltd.
On completion of the transaction, Adani Airport Holdings will subscribe to 28,49,000 equity shares of face value of Rs 10 each constituting 74% of share capital of MTRPL for an aggregate investment of Rs 28.49 crore.
Shares of Adani Enterprises Ltd. rose nearly 3% to Rs 1,480 apiece after the company said that its wholly owned subsidiary Adani Airport Holdings Ltd. signed share subscription agreement with Flemingo Travel Retail Pvt (Flemingo) and Mumbai Travel Retail Pvt (MTRPL) for the purpose of strategic partnership to operate duty free outlets in airports and seaports.
In an exchange filing, Adani Enterprises said that the strategic partnership would allow the company to operate duty free outlets in airports and seaports by Flemingo and Adani Airport Holdings Ltd.
On completion of the transaction, Adani Airport Holdings will subscribe to 28,49,000 equity shares of face value of Rs 10 each constituting 74% of share capital of MTRPL for an aggregate investment of Rs 28.49 crore.
⚙⚙SANSERA ENGINEERING LISTING
BSE Scrip Code - 543358
SYMBOL - SANSERA
Listing Dt. 24-09-2021
ISIIN No. INE953O01021
ISSUE PRICE : RS. 744
BSE Scrip Code - 543358
SYMBOL - SANSERA
Listing Dt. 24-09-2021
ISIIN No. INE953O01021
ISSUE PRICE : RS. 744
Vedanta : Vedanta Limited to delist its American depositary shares; to concentrate all trading of shares on NSE & BSE