CCRI reported decent 1Q numbers led by healthy volumes despite impact of Covid-19 pandemic indicating signs of revival in economic activity. However, the company did indicate that competition intensity continues to remain high primarily from private players resulting into lower realization. Further, as a move to focus on profitability, CCRI handed over 17 loss-making terminals to Indian Railways while shifting volumes to its nearby terminals. Management retained its earlier guidance of 20% decline in handling volumes for FY21E. We believe CCRI’s unmatched presence across the country as compared to its peers coupled with positive long-term industry prospects would support its prolonged growth and help maintain its market leadership. We remain positive on the structural growth story considering 1) continuous market share gains in the domestic segment 2) strong EXIM volumes, 3) new strategic initiatives and 4) expected pick-up in economic activity. … [Read more...] about Buy Container Corporation of India; target of Rs 468: Prabhudas Lilladher
Gop house leadership
Time to Build or Time to Finance?: In April, Andreessen Horowitz (A16Z) declared: “It’s time to build.” But in January, it asserted that “every company will be a fintech company.” Which philosophy reigns supreme? It’s a laudable goal—giving employees a chance to buy a home, or offering retail investors a look at significant upside. But right now, these platforms still work best for large shareholders looking to sell and institutional investors with access to company financials willing to buy. One white-shoe secondary broker recalls a pre-IPO founder who had quietly cashed out enough of her stake to build a $15 million house, yet maintained a corporate policy denying secondary liquidity to her employees—a power imbalance that remains all too common. … [Read more...] about If entrepreneurs and VCs want to build, we first need to rebuild financial markets
We cut our FY21 earnings estimated by 18.6%. We also trim our FY22-23 by 6.5% and 4.5% respectively to factor in lower volumes as the pandemic related restrictions get gradually lifted and the economic activity picksup. Reiterate BUY with a PT of Rs1,226 (1,279 earlier). … [Read more...] about Buy Mahanagar Gas; target of Rs 1226: Prabhudas Lilladher
These lists can go on endlessly. Longer the list, the tougher the plan. Tougher the plan, the longer the time you need to accumulate the corpus. Longer the time needed, the more the sacrifices you need to make now. All this begs the question, what then is the real secret to financial independence? It is actually “contentment.” Contentment comes out of limiting your desires and living a minimalistic life (not necessarily that of a monk!). But think like a monk. This kind of thinking results in less baggage for you to manage through your life. Striking that balance between need and want is the prime determinant of your financial independence. It will eventually impact your work-life balance, which has surprising results on the need for premature retirement also! This is the spiritual angle to financial independence that in my view is as important as the financial angle. … [Read more...] about How much money do you really need to be financially independent?
Committees that have studied instances of deluge in Mumbai agree that a warmer atmosphere brought about by climate change will get Mumbai more rains in the future in fewer but more intense events. These vulnerabilities of Mumbai have largely been ignored in the past and huge amounts of construction in disregard of environmental safeguards have been on-going for decades, prompting a recent outburst from Ratan Tata against the ways of Mumbai builders. … [Read more...] about Seven reasons why Maharashtra should have a new capital