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India Housing : Best Ever Affordability
Author: Raoji
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Linkfest: 12 March, 2021
Some stuff I am reading today morning:
Aramco-Reliance deal may speed up (BT)
Why India Inc will not see another bumper quarter of profits (MC)
India to block China’s Huawei (BS)
ECB plans to ramp up bond buying (CNBC)
IDBI Bank out of PCA (Rediff)
Startup: Freshworks (Forbes)
The ‘Greensill’ canary in the coalmine ( Anantha Nageswaran)
The Roblox Micorverse (Stratechery)
The best Crypto Wallets (Matthew Makowski)
Christie’s first NFT art auction tops $60 Million (Yahoo)
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Mega Trend: Indian Jewellery
Source: DRHP of Kalyan Jewellers India Pvt Ltd
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BPCL: Raining Dividends
In the run-up to the sale of BPCL, Govt of India is sparing no efforts to remove excess cash from the co.
BPCL had given a first interim dividend of Rs. 16/share recently.
Subsequently, it sold the Numaligarh refinery for Rs.9,876 Cr.
This was followed by the sale of treasury stock for Rs. 5,525 Cr.
No sooner have these sale transactions being completed, BPCL is now planning to give the second interim dividend.
Now, whats interesting is that BPCL is a major shareholder in many valuable cos.
BPCL’s shareholding in Petronet is worth around 4,600 Cr
BPCL’s shareholding in IGL is worth around 8,000 Cr
BPCL’ shareholding in Oil India is worth around 352 Cr
In addition, BPCL owns 21% stake in the unlisted Fino Payments Bank which should be worth around 500 Cr or so
By selling these stakes, BPCL can raise an additional 13,450 Cr (pre tax & without discounts) which can be distributed to the shareholders.
The reaction to this possible bonanza by BPCL minority shareholders to Govt of India can be expressed in the meme below
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Linkfest: 11 March, 2021
Some stuff I am reading today morning:
74% FDI in Insurance gets Cabinet nod (Rediff)
Why AB Fashion is buying stakes in high end fashion brands (MC)
M&M debunks media claims of layoffs (BSE)
Indian Hotels stock as a recovery play (BS)
Prestige Group sells assets worth 7,467 Cr to Blackstone (BT)
Embassy REIT may give more tax free dividend (FE)
How Roblox became a $30 Billion company (CNBC)
Excel never dies (Not Boring)
Investing: The greatest show on earth (Morgan Housel)
The Conventional Investor’s guide to Bitcoin (Morningstar)