Grasim shareholders have been telling us that they need another growth engine like UltraTech. Finserv will be another growth engine for Grasim.
The combined market value of three largest companies — United Spirits, United Breweries and Radico Khaitan — crashed 30 per cent to Rs 55,392 crore from a year ago.
The combined market value of three largest companies--United Spirits, United Breweries and Radico Khaitan crashed 30% to ` . 55,392 crore from a year ago.
Two-step recast may involve merger of Grasim and parts of AB Nuvo, followed by hiving-off of Nuvo’s finance services business into separate firm.
Hawkins generated 69% return-onequity (RoE) in FY16 and paid out more than 90% of net profit as dividend.
Valuation-wise, paint companies have always traded expensive, given their high earnings growth visibility and dividend-paying policies.
MIP is seen as one of the toughest protective trade measures that a country can impose. It sets a price below which imports are not allowed into the country.
The IPO appears to be fairly priced. The only risk is that a significant part of the company’s revenues come from UK and pound has fallen after Brexit.
The company exhibits financial discipline, cost and risk controls, constantly improving product mix and focus on operating margin.
The zinc business of the company is the highest earnings contributor, making up around 75 per cent of earnings. The prices of zinc have gone up by 18 per cent since April.
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