Categories
CoatTailing

Portfolio of Sunidhi Capital

This post is in continuation of my coat tailing series (see here)

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Sunidhi Capital is a well known entity in the Indian Equity Markets.Its promoters run two other firms Pivotal Securities Pvt Ltd and Pivotal Business Managers LLP

Its significant holdings in India as on 30 Sept,2014 as per Stock Exchanges is given below:

Symbol Entity # of Shares % Date End
AKSHOPTFBR Sunidhi Capital Pvt. Ltd. 9005250 5.94 201409
DHANBANK PIVOTAL BUSINESS MANAGERS LLP 2425462 1.37 201409
FLEXITUFF Sunidhi Capital Pvt. Ltd. 266000 1.07 201409
JBFIND Sunidhi Capital Pvt Ltd 1718704 2.62 201409
JINDCOT Sunidhi Capital Private Limited 1369644 3.04 201409
PRAKASH SUNIDHI CAPITAL PVT LTD. 2500000 1.86 201409
PRAKASHSTL Sunidhi Capital Private Limited 334259 1.91 201409
REPRO Pivotal Business Managers LLP 293000 2.69 201409
SHILPAMED PIVOTAL SECURITIES PRIVATE LIMITED 1612500 4.18 201409
TECHNOFAB SUNIDHI CAPITAL PVT LTD 295000 2.81 201409
Categories
ForecastingFolly

Forecasting Folly:Aarti Drugs

This post is in continuation of my forecasting folly series (see here)

One characteristic of a bull market is that brokerage reports tend to  “chase the price”.

What usually happens is that a brokerage firmt issues a report with a buy recommendation and a target price.

However the markets being exuberant, the stock price moves up quickly leaving the target price in the dust.

Hence the equity analyst is forced to issue another report with a higher target price and the process repeats itself.

This “chase the price” is beautifully illustrated by the example of Aarti Drugs.Many thanks to Abhishek Pradhan for bringing this to my attention.

On June 26,2013, Sunidhi Securities issued a buy recommendation on Aarti Drugs with a target price of Rs.260.The stock was quoting at 190 Rs/share then

Then the bull market took off and prices of all securities started zooming.

So on May 02.2014, Sunidhi Securities issued another buy recommendation on Aarti Drugs with a target price of Rs.444.The stock was quoting at 355 Rs/share then.

The bull market continued unabated.

So Sunidhi Securities did what any self-respecting brokerage would.

On August 12.2014, Sunidhi Securities again issued a buy recommendation on Aarti Drugs with a target price of Rs.1031.The stock was quoting at 699Rs/share then.

So in one year the target price has gone up by 4x !!

Forecasting Folly, anyone ?

Categories
ForecastingFolly

Forecasting Folly: Crew B.O.S.

This post is in continuation of my forecasting folly series (see here)

On May 4, 2011, Sunidhi Securities came out with a buy call on Crew B.O.S. with a target price of Rs.145.

Then the prevailing price of the stock was around Rs 104 .So the call indicated an upside of around 40%

That buy call turned out to be the kiss of death for the stock.Over the next two years, the stock slid continuously and is now available for Rs. 10.55 !! (There is no indication online of Sunidhi Securities changing its recommendation during this period)

The current market price is actually 7% of the target price set two years back !!

Forecasting folly, anyone?