Scorecard - Jan 2006
Here is how my shares have performed so far. This is a full list of the shares I bought from Jan to Jun 2005. Last updated on Jan 27, 2005. Next update due end of Feb 2006. The previous scorecard is here.
| Name of the company | Bought on | Price (Rs.) | Price as of last update date (see above) (Rs.) | Dividend received per share (Rs.) | Total returns per share (Rs.) | Absolute returns(%) |
| Kabra Extrusiontechnik Ltd | 12 Jan 2005 | 60.03 | 103.90 | 3.5 | 47.37 | 78.9 |
| TNPL | 19 Jan 2005 | 58.17 | 94.00 | 2.75 | 38.58 | 66.3 |
| Cosmo Films | 23 Mar 2005 | 59.30 | 78.45 | 3.5 | 22.65 | 38.2 |
| MTNL | 24 Mar 2005 | 122.81 | 142.35 | 0 | 19.54 | 15.9 |
| Tamilnadu Petroproducts | 29 Mar 2005 | 20.10 | 25.35 | 1 | 6.25 | 31.1 |
| PNB Gilts | 14 Apr 2005 | 18.09 | 22.60 | 0 | 4.51 | 24.9 |
posted by Value Investor on Sunday, January 29, 2006
Hi,
Even I bought PNB Gilts at a fairly decent price of 18.15 rupees. The appreciation over the last 16 months has been ... nothing !!! But things seem to be changing now.
NCAV = 34 rupees
Profit for this year = i'll estimate it at around 55 crores. So P/E will be at 5.4 rupees.
The the most terrific story .. look at the cash column in their balance sheet ... it's 16.66 rupees per share
BUY BUY BUY this stock. I am doing a bulk deal tomorrow. Say a good 2000 stocks. Rocking man !!!
- Shankar
Nice Blog and WOW! thats a good track record..awesome returns!!. Congrats on picking such solid enterprises. I myself am a Value investor. I would love to invest in the indian market but at the moment donot know what would be the best way to do this. I am an NRI and been out of the country for about a decade now. Do you know of a site or someplace i could getinfo on opening an NRI trading account. Thanks....and keep up the good work
Hi Anonymous,
Thanks for the good words.
Do a search "nri share trading" or some such on Google, you should be able to get all the information you need.
Regards,
Value Investor
Wondering if you have any thoughts on some good Mutual funds with a value investing approach that you know or recommend doing more research on?
Great work by the way...
Hi Sreenath,
Thanks for your good words.
I am not sure if any of the MFs in India follow the value approach to any significant degree: they are more after growth and/or speculation, and their returns so far seem to justify this choice.
IMHO, India's is a very immature stock market, so it is easy to make impressive short-to-medium term gains here with almost any strategy which is at least a little removed from pure gambling. What I mean is(and this is only a gut feeling), a significant portion of the volumes derive from pure gambling strategies, so if you are a wee bit levelheaded, you will end up making money any way you play it.
Thus, it is not the case that you have to really apply yourself to show impressive gains, and what is more, you may end up looking foolish in the short-to-medium term if you do really apply yourself.
In this scenario, no MF (which is constrained by the need to show up well in comparisons with its peers) follows a pure value approach. The closest they come are in the case of the various 'contra' funds, and the ELSS (tax-saving) schemes, and then they are not very close.
So, if your interest in value investing is Platonic (OK, I am being harsh here!), you are better off doing it yourself and learning on the job. If you are looking for short-to-mid term gains from MFs, then chuck out the value investing criterion, and pick MFs based on their past performance.
Needless to say, the only sane way to invest in MFs is via SIPs, and MF IPOs are for rank fools.
Regards,
Value Investor
Sreenath,
In case you haven't found it already, Aditya's blog has a running feature on MFs.
Regards,
Value Investor
Hi Value Investor,
It was nice to read your blog on 'value investing'.
Hope this could be of some help to you/your friends.