Porinju Veliyath's Equity Intelligence buys 7.4 lakh shares in Ashapura Minechem (5.35%)

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Pee Vee
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Porinju Veliyath's Equity Intelligence buys 7.4 lakh shares in Ashapura Minechem (5.35%)

Post by Pee Vee »

Equity Intelligence buys 7.4 lakh shares in Ashapura Minechem via open market, holding now goes up to 5.35% post acquisition

BSE Filing Data: http://www.bseindia.com/xml-data/corpfi ... 112833.pdf

Porinju Veliyath’s Equity Intelligence India increased its stake to 5.35% in Ashapura Minechem. The stock rallied more than 9% intra-day. Equity Intelligence purchased 7.42 lakh shares (representing 0.85% of total paid-up equity) of the company via open market transaction on November 16.

According to a stock exchange filing, Equity Intelligence’s shareholding in the company has increased to 5.35 percent from 4.5 percent earlier, as per the BSE filing.

Ashapura Minechem shares have returned more than 37% in the year so far. In contrast, the NSE Sensex has returned 26% in the year.

Porinju Veliyath is known for spotting small-cap multibaggers. He had spotted names such as Wockhardt, Orient Paper, Kitex Garments, Force Motors and Biocon, which have multiplied many times over since he spotted them. Many of these stocks still form a part of his portfolio.

Porinju Veliyath had predicted Samvat 2074 to be a comeback year for these small-cap laggards! “Two companies which I mentioned earlier also haven’t performed yet. From the railway segment, Texmaco Rail and Titagarh Wagons. One is around Rs 2,000 crore market-cap. TWL is around Rs 1,500 crore market-cap. Strong balance sheet and execution capabilities. I think investors should really watch these two companies in 2074, for reasonable gains, not multi-baggers I would say,” Porinju Veliyath said in the same interview.

Decoding the investor psyche in the stock market currently, top investor Porinju Veliyath says that investors in India miss the ‘big picture’ while investing for the long term. Explaining the current composition of the markets Porinju Veliyath of Equity Intelligence India told ET Now, “ The other day I was talking about the current composition of market players. We have 10% bulls, 20% bears and 70% monkeys. This is an opportunity for the first 10%. This composition changes with time.”

Porinju Veliyath pointed out that the investors must take into account a lot of factors before finally picking stocks. “Investors should not feel that equity investing is just secluded, wherein you look at the charts to buy and sell, that’s a very low end activity. Long-term investors who want to create wealth by investing in equities must look at a lot of things. Politics, the social structure, the changing landscape of the economy, the structural changes, how the corporate world is changing, the frauds, whether they are coming down or not. There are n number of factors to consider, ” said the expert.

http://www.financialexpress.com/market/ ... ke/937263/
valuepicker
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Joined: Mon Jan 09, 2017 8:44 am

Re: Porinju Veliyath's Equity Intelligence buys 7.4 lakh shares in Ashapura Minechem (5.35%)

Post by valuepicker »

Can one enter this stock at the current level from a long term perspective or it's fully priced? What is the trigger for upmove?

This stock never figured out in porinju or equityintelligence holding. As per the report equityintelligence was holding 4.5%in this stock before the transaction of additional 0.85%.. How come this never came as a corporate action in any forums?
bernatshaw
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Joined: Tue Nov 07, 2017 12:06 pm

Re: Porinju Veliyath's Equity Intelligence buys 7.4 lakh shares in Ashapura Minechem (5.35%)

Post by bernatshaw »

Dear,

There is no clear details about the company.But go-through the financials . Its price is not attractive
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