Source: Exchange Filings of Sysco Industries
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Sysco: No smoke without fire?
Source: Exchange Filings of Sysco Industries
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Linkfest: 03 April,2018
Some stuff I am reading today morning:
Ugly sell off in US stocks (CNBC)
RBI allows banks to spread trading losses (Reuters)
Two bank bosses in the eye of a storm (ET)
CBI inquiry into ICICI Bank likely to be a fishing expedition (Jaggi)
Rajiv Kochhar denies dealings with ICICI Bank (Mint)
Ratan Tata speaks on Tata Motors (BS)
Poor listing of Sandhar Technologies (BL)
Are you over paying for diagnostic businesses? (Dhruva Pandey)
Understanding the real estate sector in India (Dhruv Saraf)
How do I lose less money this year? (Bala)
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Portfolio of EQ India Fund
This post is in continuation of my coat tailing series (see here)
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EQ India Fund is managed by Porinju Veliyath who has a wide following in the Indian Equity Markets.
It’s significant Holdings as on 31 Dec,2017 as per Stock Exchanges is given below:
| Company Name | NSE Symbol/BSE Code | Entity | Value (In Crores) |
| BCL Industries & Infrastructures Ltd | 524332 | Eq India Fund | 6.43 |
| Leel Electricals Ltd | 517518 | Eq India Fund | 5.36 |
| Liberty Shoes Ltd | LIBERTSHOE | Eq India Fund | 3.86 |
| Shalimar Paints Ltd | SHALPAINTS | EQ INDIA FUND | 2.84 |
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Centrum: Kabhi Core, Kabhi Non-Core
There was an article today in the TOI about Centrum’s sale of its forex business
Nasdaq-listed Ebix Inc is set to acquire India’s leading airport foreign exchange provider CentrumDirect in a deal estimated at about $200 million, or Rs 1300 crore, people directly aware of the matter said.
Atlanta-headquartered software and e-commerce company Ebix has made an offer to buy 100% stake in the foreign exchange business unit of Centrum Group, a homegrown financial services firm promoted by Chandir Gidwani and Jaspal Bindra, which is awaiting formalities.
The divestment move is part of Centrum’s plans to exit non-core businesses. Former Standard Chartered honcho Bindra, who emerged as Centrum’s copromoter, has pursued a business streamlining exercise at Centrum. The sale of forex unit would provide Centrum with adequate capital to grow its NBFC operations focused on housing finance, SME and microfinance lending.
Amusingly this “non core” business was the largest revenue generator for Centrum as per their Annual Report !
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2017-18 : India Vs the Rest
2017-18 Poor year for Indian markets.
1 year returns:
MSCI In US$ terms:
India: 8.8%China: 37.5%
Brazil: 22.6%
Russia: 14.9%
Emerging Mkts: 22.2%
Asia Ex Japan: 23.1%S&P 500: 11.5%
Nasdaq: 19.4$
Dow: 16.3%— Samir Arora (@Iamsamirarora) April 1, 2018