The Mysteries of Stock Valuation – I

In a couple of my previous columns, I shared some thoughts on analysing companies and businesses. However, one big gap that was left was valuation. There are so many different opinions on the valuation of any stock that these, probably, outnumber the number of listed companies! Everyone has his or her pet theories. What is a right price to buy? What is the right price to sell? What is the...

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Nifty, Sensex May Rally a Bit if Today’s Low Holds – Wednesday closing report
We had mentioned in Tuesday’s closing report that Nifty, Sensex continued to be under pressure. The major indices of the Indian stock markets rallied on Wednesday and closed with gains over Tuesday’s close. On the NSE, there were 688 advances, 1,048 declines and 330 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:
 
 
A recovery in the rupee value along with value buying buoyed the key Indian equity indices on Wednesday. The key equity indices -- S&P BSE Sensex and NSE Nifty50 -- which had a gap-up opening, traded in a flat-to-negative range, as investors were cautious over the upcoming macro-economic inflationary data point.
 
However, the key indices reversed the bearish trend after the mid-afternoon session as buying was witnessed in FMCG (fast moving consumer goods), metal and capital goods counters. In the past two trade sessions the Sensex had shed nearly 1,000 points and gave investors an opportunity to pick up stocks on an attractive valuation. On the currency front, the Indian rupee registered a recovery at 72.11 at 4.00 p.m. after it touched a new low of 72.91 earlier in...

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Is KSE Undervalued After the Recent Decline?

With a market-capitalisation of about Rs820 crore, Kerala Solvent Extractions Ltd (KSE) is the largest manufacturer of compound cattle-feed in the private sector in India. The stock has had a great run from January 2017 till end-May 2018, when it went up by six times. But from June 1st after it had reached an all-time high of over Rs3700, the stock started falling. Due to the recent floods...

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