Monday, August 31, 2009

More Insider Selling

The insiders seem to differ from mutual fund managers. MF Managers are buying like mad and insiders are selling as if there is no tomorrow. Here are some more disclosures: JM Financial, Piramal Healthcare, DLF 1 and 2, Aptech, Lupin, Oracle Financial, IL&FS Investment Managers 1, 2 and 3, Ambuja Cements 1 and 2 and Voltamp 1 and 2.
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Saif said...

hi..u have mentioned for timken the TTM profit is 48.96 cr.
but i found that the first half 09 profit is 17.73 cr. in the second half 08 it is (53.00 - 27.77 = 25.23 cr)
so TTM is 42.96 cr.
no of shares (approx) is 6.38 cr
so TTM EPS comes to 6.73.
(the profit figures are from nse site)
Can you clarify is my calculation correct or am i missing something


Chinmay said...

Hi shaq,

Your observation is correct. I made a mistake. I referred to BSE and instead of March 2009, took results of Sept 2008. The TTM profits are indeed INR 42.96 Crore and EPS comes out to be 6.74. Thanks for pointing the error out.

Saif said...

thanks chinmay for confirming...with these figures and CMP of 116 is at trailing p/e of 18...looks somewhat expensive...i dont know how the others in this industry are rated...
on a side note your blog is very informative and rich in pointing with proper numbers about various fundamentals of companies ,something which is best wishes to you..

Saif said...

just one more basic q..In the nse site ,giving financial results,a company mentions about Paid-up Equity Share Capital.Ex
For axis bank arnd 36crore shares issued during ipo ,it mentions equity share capital as 36 crore *10 = 360 crore.
What does this mean..because the actual capital raised would be the shares offered to public * ipo price.Will not this be the equity base of a company?

Chinmay said...

Hi Shaq,

The Equity Share Capital always means Number of shares issued * Face value and never include the premium collected in IPO price. The premium (IPO price - Face Value) goes into Equity Premium Account. And not all the shares were issued during IPO. There might be private placements (QIP), issued ESOPs, Warrant Conversions etc, all of which are taken in Equity Share Capital at Face value.

Thanks for your wishes.


Saif said...

thanks for the response chinmay...looking fwd to more articles on this blog..

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