Sunday, November 2, 2008

Graham would love this market

One of the criterion for choosing a company to invest in for Graham was that the price is below 2/3rd of the net working capital (cash or net worth + inventory - debt). I wasn't able to collect the inventory but just by looking at cash - debt, I found that out of 557 companies in BSE SMALL CAP index, 54 was meeting Graham criterion. Some of them are,

Company Name
Ahmednagar Forgings
Andhra Petro
Avaya Global
Balasore Allyos
BSEL Infra
Carol Info
Consolidated Finvest
D-Link India
Dhanus Tech
G V Films
Ganesh Housing
Hinduja Ventures
HTMT Global
ITD Cementation
Jindal Photo
Jindal Polyfilm
Jindal Southwest Holdings
Jupitor Bioscience
Kernex Micro
Kolte Patil
Kothari Products
Krishna Lifestyle
Llyod Electric & Eng
Logix Micro
Lok Housing
Maharastra Scooters
Mascon Global
Micro Inks
Midday Multimedia
Nitco Tiles
Om Metal Infra
House of Pearl Fashion
Prajay Engineers
Prime Securities
Prithvi Info
Saregama India
Sasken Communication
Suraj Diamonds
Sujana Tower
Triton Corp
Vaibhav Gems
Vakrangee Software
Vikas WSP
Vimta Labs
Zylog System

Some of these names like Aftek, Silverline, Teledata, are untouchables since they do not have a good history. But Lloyd Electric, Sasken, Vimta Labs, Vaibhav Gems, Micro Inks, Hexaware, Avaya Global, D-Link India were renowned names once. I haven't looked at these companies' P&L account to know whether the intrinsic value of the company is increasing or decreasing, but the running business of these companies is available for free.
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