I find it interesting that in this bull market, one prominent stock making new lows is Nestle India.
Nestle India trades at high valuations-around 40 Times FY 2013 (Jan-Dec) EPS of 115 Rs.
Their profits for 31 March,2014 showed a drop of 7%.
The market didn’t like this one bit-a growth stock is supposed to keep growing.And hence the stock price is getting whacked.
Am reminded of Hindustan Lever-it sat out the entire bull run of 2004-2008 as it was expensively priced to begin with.
Jignesh shah counsel seek more security in jail for jignesh. Since ex empolyee is in the same jail.
— Tarun sharma (@tarunZee) May 19, 2014
Some stuff I am reading today morning:
10 stocks to ride ‘Modi’ wave (ET)
Are junk bonds gaining ground in India? (Mint)
Modi asks key babus to list hits and misses (FE)
Brokerages raise India targets (BS)
The ignominy of regret (CapitalMind)
A few simple rules for money managers (Contrarian)
Amazing Disgrace (MediaCrooks)
Whats your tolerance for complexity? (CommonSense)
Eliminate all hero worship (KirkReport)
Why the Modi story is exciting to investors? (BI)