Centurion BOP - Will it be takenover!
Printed From: The Equity Desk
Category: Investment Ideas - Creating winning portfolios!
Forum Name: Emerging companies - Mid caps that can become large cap
Forum Discription: These are companies operating in growing markets having have certain niches or specific attributes like new sector plays. These are emerging multibaggers with high risks and high rewards.
URL: http://www.theequitydesk.com/forum/forum_posts.asp?TID=1228
Printed Date: 19/Apr/2025 at 4:57pm
Topic: Centurion BOP - Will it be takenover!
Posted By: basant
Subject: Centurion BOP - Will it be takenover!
Date Posted: 20/Sep/2007 at 12:38pm
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I initiated an exposure in Centurion BOP. We had discussed this bank in the thread " http://www.theequitydesk.com/forum/forum_posts.asp?TID=247 - Which private Bank will foreigners buy? ". Just trimmed some of the existing holdings because portfolio had become very bulgy. Top 3 companies in the portfolio remain same as before. Fundementally this bank is costly to Yes which is costly to HDFC bank so this is not a value stock as such but is more of a speculative takeover play.
Again thnaks to X-Box for initiating the idea.
PS: Centurion BOP is not thje best banks to invest in and does not confirm to the best standard of financial standing so please take this stock with that disclaimer. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Replies:
Posted By: bgkochar
Date Posted: 20/Sep/2007 at 12:45pm
| basantji.don't u think that dlf connection will help to grow faster |
Posted By: basant
Date Posted: 20/Sep/2007 at 12:59pm
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What is the DLF connection? ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: bgkochar
Date Posted: 20/Sep/2007 at 1:12pm
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if i m not wrong kp singh and mr talwar are relative. i think kp singh is father-in-law of mr. talwar. |
Posted By: tyler_durden
Date Posted: 20/Sep/2007 at 2:11pm
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thats not the reason which will propel CBoP on growth trajectory.....
as for topic...basant ji chances re by next year only deal will be struck....feb- mar 2008 rbi is going to announce policy changes...the directors of CBoP re given CbOp shares which re locked till dec 07 .... and by may -jun 08 we can expect the hunt
and its good to hear that u have taken an exposure here  ------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: tyler_durden
Date Posted: 20/Sep/2007 at 2:14pm
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basant ji aaj CBoP bhi upar hai 3% with huge volumes,....kya baat hai...aap to exposure lete hi hila dete ho stock ko ------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: xbox
Date Posted: 20/Sep/2007 at 3:39pm
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CBoP rise can not be just co-incidence. |
Posted By: tyler_durden
Date Posted: 20/Sep/2007 at 4:02pm
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earlier day yes bank also rose...basant ji u must buy these shares everyday... ------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: tyler_durden
Date Posted: 20/Sep/2007 at 4:11pm
6 million volumes and almost 7% up......... ------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: smartcat
Date Posted: 20/Sep/2007 at 4:56pm
| CBoP could soon be renamed as "Punjab Da Centurion Lord Krishna Bank". |
Posted By: basant
Date Posted: 20/Sep/2007 at 7:35pm
Come on you know better then any of us as to how this stock behaves.It is just rising on mommentum and punting. Maybe the fed rate cut had helped sentiment but I wish that TED had been this powerful!
Fundamentally this is not a stock that would make Buffet proud. So before anyone rushes to buy and keep it for the long term he should understand the intricacies of this stock.
Over a period of time every girl finds a boy but whether she finds him in her 18th year or 28th is something that we can only debate.  ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: tyler_durden
Date Posted: 20/Sep/2007 at 7:46pm
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ha ha ha...that was gud one...
but why only a guy?? she may flirt with many guys before settling with one and it is this flirting which adds fun to her life...
so CBoP s flirting will add some fun to our portfolios and final engagement will obviously be a big blast ------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: basant
Date Posted: 20/Sep/2007 at 8:07pm
Ah! There lies the fun but a break up in relationship is always painful for the participants ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: tyler_durden
Date Posted: 20/Sep/2007 at 8:24pm
yeh baat bhi such boli...and wat about extra marital?? its painful only if u re caught... ------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: s_praharaj
Date Posted: 20/Sep/2007 at 11:27pm
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I have also a exposure in CBOP.
Rana Talwar is also a seasoned banker and headed big and famous banks earlier. He enjoys a lot of clout in the industry. The way CBOP is growing by taking over and merging, I don't think it is a takeover canddidate. But if anybody ever takes it over, he will have to give a very good price. The price also is not cheap. Its a 1 rupee share trading around 40.
I have a senior friend, who holds a very high position in CBOP. I sometimes discuss things with him about this bank. He tells me that the Bank is doing very well.Though he has not told me anything about the price front, still he is very optimistic about a sound appreciation in its price. ------------- Shashi Praharaj |
Posted By: tyler_durden
Date Posted: 20/Sep/2007 at 12:38pm
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the way it is growing by taking over and mergers is the only reason that it will be sold....if it wanted to be a self entity in the longer run then it wud have chosen path of organic growth.....this is wat my sense says....but apart from this from someone who is at a very high position in CBoP ican tell u that within 3-4 months of rbi changing policies CBoP willbe gone.....already a lot of parties are in talks with them...its just the matter of getting good price ------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: xbox
Date Posted: 20/Sep/2007 at 5:26am
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Well, I recall one very good Kulman jee's bol lal bol dicsussion, where bunty told someting like ..'it is like all good looking girls are already ...' On these lines, CBoP is good looking girl, so one can assume all good girls .....
Kulman jee, tussi gr8 ho!!.
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Posted By: Mohan
Date Posted: 20/Sep/2007 at 9:11am
Basantji, IS this a trading call ? ------------- Be fearful when others are greedy and be greedy when others are fearful. |
Posted By: smartcat
Date Posted: 21/Sep/2007 at 4:24pm
Equitymaster.com earnings estimates for CBoP -
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Posted By: basant
Date Posted: 21/Sep/2007 at 10:15pm
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Guess these are not consolidated because after merger with LK Bank CB's profit will be impacted because
a) equity dilution and
b) LK Bank is loss making.
------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: smartcat
Date Posted: 21/Sep/2007 at 12:06pm
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Here you go -
Financial Analysis
Source: Equitymaster.com
I'm not very smart with numbers. What does all this stuff mean?
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Posted By: sunlight
Date Posted: 24/Sep/2007 at 4:31pm
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Times of India Report
ING Vysya Bank is in talks with Centurion Bank of Punjab and Kotak Mahindra Bank for acquisitions.
Sources privy to the talks said a deal with Centurion “looks a logical possibility”. “ING has deep pockets to fund multiple buyouts if need be,’’ sources said. Amsterdam-based ING Group with revenues of $158 billion in 2006 was ranked 13th in the latest Forbes ranking of the world’s biggest companies. It posted a net profit of $10 billion in the year. [I have been following TED discussions for a month. Registered only last week. I am a new investor, this is a great forum and hope to participate in some of the discussions]
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Posted By: basant
Date Posted: 24/Sep/2007 at 4:53pm
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Hi Sunlight,Any idea which edition of the TOI carried this news? Willl try to talk to the journalist there.
------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: sunlight
Date Posted: 24/Sep/2007 at 4:58pm
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Hi Basantji,
I am from Bangalore and I read it in today's TOI. I think ING is headquartered here.
Here is the link
http://timesofindia.indiatimes.com/Business/India_Business/Is_ING_eyeing_Centurion_Kotak/articleshow/2396033.cms - http://timesofindia.indiatimes.com/Business/India_Business/Is_ING_eyeing_Centurion_Kotak/articleshow/2396033.cms
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Posted By: smartcat
Date Posted: 24/Sep/2007 at 5:02pm
| http://www.moneycontrol.com/india/news/business/is-ing-eyeing-centurion-kotak/304439 - Is ING eyeing Centurion, Kotak? |
Posted By: bgkochar
Date Posted: 24/Sep/2007 at 5:15pm
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basantji you bt cbop on takeover expection last week and news are coming in papers, it is coincidence or you had some info on that
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Posted By: smartcat
Date Posted: 24/Sep/2007 at 5:24pm
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And last week, I latched on to the other suspect - Kotak Bank.
ING Bank's CEO keeps giving me 'missed call' all the time.
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Posted By: dhanabbal_g
Date Posted: 24/Sep/2007 at 5:25pm
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basant ji - It came in times of India bangalore edition. Debojyoti Ghosh & Mini Joseph Tejaswi  ,TNN --- journalist name |
Posted By: basant
Date Posted: 24/Sep/2007 at 5:30pm
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Thanks. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: s_praharaj
Date Posted: 24/Sep/2007 at 5:38pm
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Thanx Sunlight for the link.
Since ING has deep pockets they can afford to buy these banks.
But I feel Kotak will not be like to be sold.
CBOP is ofcourse a takeover candidate, because they themselves beleive in that and they are comparatively weak. ------------- Shashi Praharaj |
Posted By: reetesh
Date Posted: 24/Sep/2007 at 5:49pm
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If they go for CBOP that would be great, I was hoping this for many months now finally they are doing this....
I hope/pray it is not Kotak, because we will or rather I will miss Kotak story if they buy this, I want both of these stories to play for me! ------------- When going gets tough, that’s when tough (people) gets going. |
Posted By: sunlight
Date Posted: 24/Sep/2007 at 6:21pm
| I hope it is not too late to accumulate. I average 40.50. I didn't see any major move up yet like we see in some of the other counters. |
Posted By: basant
Date Posted: 24/Sep/2007 at 7:32pm
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Unless this takeover actually happens we will never know who will buy whom. So just do not buy this for the takeover. Investors have struggled with South indian bank since the last decade - hoping for the takeover. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: basant
Date Posted: 24/Sep/2007 at 10:44pm
Oh! I forgot this post. No I had no inside information and this is purely co-incidental if any.
Maybe the Swayambar has started but the girl will put the garland around the neck of the suitor who keeps her shareholders happy - monetarily!
Over the next few months there would be many many such false starts. Takeovers do not happen so easily.
 ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: tyler_durden
Date Posted: 25/Sep/2007 at 7:41pm
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basant ji... to hum ladki pe hi kyun concentrate kar rahe hain?? in the end to lakshmi ladke ke ghar hi ayegi!!!! ING vysya is much cheaper a scompared to CBoP or kotak....why not to grab ING vysya....and post 2009 ING will scale up its operations in india multiple times.... ------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: basant
Date Posted: 25/Sep/2007 at 7:48pm
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Ah! Yes and no:
1) The acquirer pays top dollar for the acquiree - always. This is a zero sum game. Whenever there is bidding it is always settled for as little more then what it is worth.
2) In the long run it evens out because no one would pay more and not make money in 5 years.
3) Takeover is not the only thing why stocks are bought suppose no takeover happens then we have to do a scenario analysis.
4) What if ING buys it not from the listed subsidiary but from the parent company and then delists the listed subsidiary - situation is very fluid.
5) WHat if ING does not buy at all and HSBC goes on to buy it or CITI or anyone else?
6) FOr the time being let us analyse CBoP as a stock without takeover triggers because a takeover could take about 18 months to materialise.
------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: smartcat
Date Posted: 25/Sep/2007 at 7:52pm
This is most likely. ING Vysya is a very weak bank. I don't think it has the capability to buy your local pawnbroker.
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Posted By: tyler_durden
Date Posted: 26/Sep/2007 at 2:58pm
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thanks basant ji for that detailed and great answer....
basant ji RBI will announce this policy in 2009 or 2008??? ------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: basant
Date Posted: 26/Sep/2007 at 3:08pm
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It should be in 2009 and the Govt. is bound by a WTO agreement to do so (not sure 100%) but we need to buy only those banks which are a) fundamentally strong or b) run by very efficient management even if condition (a) is not fulfilled.. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: tyler_durden
Date Posted: 26/Sep/2007 at 4:52pm
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new round of rumors in mkt...CBoP eyeing Indusind bank...... ------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: anandv
Date Posted: 26/Sep/2007 at 6:44pm
| IndusInd has gone up over 35% since Sep 5th . I was about to post to ask if there was anything smoking ..? Tylerji you seemed to have read my mind. |
Posted By: tyler_durden
Date Posted: 26/Sep/2007 at 6:52pm
 mind read to pata nahi but my post is based on rumors but in 2-3 days i will confirm whats cooking ....------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: tyler_durden
Date Posted: 26/Sep/2007 at 6:56pm
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if this rumor turns out to be true...then shall we buy indusind or concentrate positions in CBoP.... my heart and mind both re saying indusind...because from our discussions i believe shikar is a better buy... ------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: reetesh
Date Posted: 26/Sep/2007 at 6:59pm
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This is most likely. ING Vysya is a very weak bank. I don't think it has the capability to buy your local pawnbroker.
----------------------------------------------------------------------------------------------To me this is Unlikely because if that was the case Mr. Victor would`nt have taken the CEO post and they also getting agrsv. even if they were to delist in 2009 then it is all the more reason why we should buy ING because it wont be less then 3 to 4 times 2009 book and if that be the case then Rs.700! in 1 a year and some months. It has more than 400 operational brances with core banking platform they will not get any better bank other than ING Vysya. ------------- When going gets tough, that’s when tough (people) gets going. |
Posted By: tyler_durden
Date Posted: 26/Sep/2007 at 7:05pm
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this is wat i cud get:
ING and CBoP talks re a reality...quite a possibility that CBoP might go....depedns upon whether ING pays them well or not
anil ambani is also eyeing CBoP big time....and talks were on but didn't came out....this is because mr Talwar feels a foreign bank can pay them much more than wat anil can pay....
post LKB merger formalities re complete...indusind is next target.....CBoP is a strong stock and will get stronger with time.....
------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: basant
Date Posted: 26/Sep/2007 at 7:58pm
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Is CBOP a Shikar or a shikari? - xbox ki bhasha mei. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: tyler_durden
Date Posted: 26/Sep/2007 at 8:08pm
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abhi woh tri-shanku hai....shikar bhi karna chahta hai aur shikar hona bhi chahta hai.....
mendhak ban gaya hai...jo ek patange ko nikgalna chahta hai aur uske peeche saanp baitha hai use nigalne ko....
------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: tyler_durden
Date Posted: 28/Sep/2007 at 1:27pm
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There was a block deal of 26 lakh Centurion BoP http://www.moneycontrol.com/india/news/action/block-dealcenturion-bop-stock5/12/56/305344# - ------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: xbox
Date Posted: 28/Sep/2007 at 1:29pm
| ya phir it also joined the race. I got rumor that INFY is joining ..... |
Posted By: basant
Date Posted: 28/Sep/2007 at 1:33pm
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Ha! Ha! Ha! Today is September the 28th not April the 1st! ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: tyler_durden
Date Posted: 28/Sep/2007 at 5:41pm
ADAG is eyeing cement biz and Akruti nirman is eyeing telecom biz....
 yeh ho kya raha hai .... it wud have made huge sense if akruti was eyeing cement biz.... and this is on moneycontrol  how it would be if NW18 plans foray into wine business and bharti starts manufacturing cars and maruti gets into jewelary ------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: deveshkayal
Date Posted: 29/Sep/2007 at 1:25pm
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When any foreign banking buys an Indian bank, he will look into the valuations of Chinese banks and compare with our desi banks, so one can expect a premium of 20-30% when the takeover really happens. ------------- "You don't need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beat the guy with a 130 IQ. Rationality is essential"- Warren Buffett |
Posted By: basant
Date Posted: 29/Sep/2007 at 1:31pm
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There would be auction or swayambar call it the way you like but we have to be careful about buying dirty banks . My list of dirty bankcs start with Bank of Rajasthan.
We saw what happened to Nedungadi and Global Trust Bank. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: chic_1978
Date Posted: 29/Sep/2007 at 3:13pm
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We saw what happened to Nedungadi and Global Trust Bank.
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infact I am still holding shares of Nedungadi Bank......i guess it was takenover by some bank & were promised some shares of new owners.....is ne 1 else sailing in this boat ????????? ------------- happy & wise investing |
Posted By: smartcat
Date Posted: 30/Sep/2007 at 12:59pm
| Next time you go to the marriage of a friend/relative you don't like much, I suggest you give away your Nedungadi shares as a wedding gift! |
Posted By: kulman
Date Posted: 30/Sep/2007 at 7:59pm
 ha ha ha
Actually if you hate someone extremely, the best option would be to gift leveraged F&O position!!
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: dhanabbal_g
Date Posted: 01/Oct/2007 at 12:11pm
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BL puts buy on cbop. link http://www.thehindubusinessline.com/iw/2007/09/30/stories/2007093050651100.htm - here Strangely, same analyst put sell on yes bank couple of weeks back citing streched valuations. |
Posted By: basant
Date Posted: 01/Oct/2007 at 12:16pm
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Ha! Ha! Ha! Hindu Business Line also joins the esteemed group of research houses like Citi group, Emkay, EquityMaster only difference being TED think ahead of them. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: nav_1996
Date Posted: 01/Oct/2007 at 2:45pm
| Looks scary at 6 times BV and NPA over 1% in a scenario where bigger banks have reported a slowdown in credit offtake. |
Posted By: tyler_durden
Date Posted: 08/Oct/2007 at 7:21pm
------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: basant
Date Posted: 08/Oct/2007 at 7:32pm
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Equity has expanded like a balloon so yearly profit growth is no use. LK bank was loss makng and for the next couple of quarters that will take its toll.
CBOP is more of a 2009 story for the absolutely patient investor. I am trying to beocme one. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: kulman
Date Posted: 08/Oct/2007 at 7:37pm
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....2009 story for the absolutely patient investor. I am trying to beocme one.
-----------------------------------------------------
what? a patient......... or...... an investor........ or both?
Kindly clarify......
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: basant
Date Posted: 08/Oct/2007 at 8:00pm
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If it works out well I am an investor otherwise the second option ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: kulman
Date Posted: 08/Oct/2007 at 8:06pm
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ha ha ha
Seriously speaking, in BFSI sector you seem to be inclined more towards pure banks. Why not integrated players offering gamut of financial svcs?
------------- Life can only be understood backwards—but it must be lived forwards |
Posted By: basant
Date Posted: 11/Oct/2007 at 12:16pm
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The prominent shareholders of CBoP Sabre Capital(1.84%), Bank of Muscat (15.45%) and Kephinance Investments (6.76%)who collectively hold about 24.05% of the Share capital of CBoP plus Sabre Capital holds about 127 million warrants which comes to about 7.5% making it around 31.55% colectively have an agrrement on sale of shares of CBoP as under:
The Board of Directors shall control and supervise the operations of CBoP. Sabre would recommend a CFO and a CEO and other senior officials whose appoiintment shall be confirmed by the Board.
In the event of any of these shareholders getting a right to sell their shares the matter would be brouight up to the Board and the Board shall if deemed fit accept the offer.
In case the offer is accepted by the Board to be in the interest of the general shareholders the above mentioned parties to this agreement are bound to tender their shares either in full or part as may be required to make the stake sale process smooth and fair.
In case any of the shareholders resent to the stake sale they will have to buy the stake from the other shareholders at the price which has been offered by the third party.
Interestingly CBoP has no promoter. Additionally ICICI ventures and Citicorp Ventures are also shareholders with 4.4% and 3.4% respectively - VC's are never permanent investors.
So collectively 40% of CBOP is available for sale. Any buyers at 40 times Fy 09 PE and 3.7 times Price to adjusted book!
------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: chic_1978
Date Posted: 11/Oct/2007 at 1:12pm
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So collectively 40% of CBOP is available for sale. Any buyers at 40 times Fy 09 PE and 3.7 times Price to adjusted book!
=================================================
please ellaborate on this once again..... ------------- happy & wise investing |
Posted By: basant
Date Posted: 14/Oct/2007 at 11:47am
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This http://economictimes.indiatimes.com/Interview/Shailendra_Bhandari_CEO__MD_Centurion_Bank_of_Punjab/articleshow/2458846.cms - interview by Mr. Shailendra Bhandari , MD CBoP is a must read:
"As a management team, we are very clear — we are growing this franchise as we believe we can build a bigger and a profitable bank. We believe that the value that anybody who is a shareholder or an employee wants to extract can be as much extracted from the market pricing and there is no compulsion to sell it. I don’t know, if tomorrow someone comes to Mr Talwar and offers him a crazy premium, would he be tempted, maybe, he would. That you have to ask him."
------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: nil_money
Date Posted: 15/Oct/2007 at 12:36pm
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basant sir ... are these good levels to initiate small exposure to CBop?? ------------- Thanks, Nilesh |
Posted By: basant
Date Posted: 15/Oct/2007 at 12:44pm
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Think so. but returns will not be linear so you would have to just get the toe wet! ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: kanagala
Date Posted: 15/Oct/2007 at 11:37am
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Basant Sir, Can you give a abstract on CBOP story. Where do you see share price of the bank by 2011 based on EPS. Where do you see share price of the bank in case take over. ------------- While one person hesitates because he feels inferior, the other is busy making mistakes and becoming superior. |
Posted By: basant
Date Posted: 15/Oct/2007 at 11:40am
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Would do that after I put in a write up on Axis Bank by today or tomorrow. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: kanagala
Date Posted: 15/Oct/2007 at 11:45am
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Thank you sir. I will wait for your report. I am still trying to understand this.
------------- While one person hesitates because he feels inferior, the other is busy making mistakes and becoming superior. |
Posted By: tyler_durden
Date Posted: 30/Oct/2007 at 11:57am
------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
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Posted By: tigershark
Date Posted: 06/Nov/2007 at 7:53am
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cbop is adv on cnbc tv18 are they planning some sort of issue? ------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: basant
Date Posted: 06/Nov/2007 at 8:49am
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I do not know but generally hate companies that advertise financials. CBoP does a bit of both bank and financial advertsiements. Company is planning for a takeover of a similar sized bank. Let's see.
------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: tigershark
Date Posted: 07/Nov/2007 at 1:30pm
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i also hate cos who trumpet their eps and np on tv but what to do it is no doubt a prime takeover candy and if one is playing the takeover game this one cannot beavoided ------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: basant
Date Posted: 07/Nov/2007 at 2:05pm
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CBoP also grows its EPS though a bit modestly at 30%-35% on an annual basis. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: nil_money
Date Posted: 07/Nov/2007 at 5:17pm
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basant sir ... you had promissed on report on CBoP after Q2 results .... are u working on the same? ... i am just curious to know. ------------- Thanks, Nilesh |
Posted By: basant
Date Posted: 07/Nov/2007 at 5:24pm
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Oh! I almost missed out on that would try and put it up have been busy with Axis all this while. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: omshivaya
Date Posted: 07/Nov/2007 at 5:29pm
Arre Wah Wah! YB report was promised way before that. Q2 is gone and so is the Orient Global placement. First come, first serve! ------------- The most important quality for an investor is temperament,not intellect.A temperament that neither derives great pleasure from being with the crowd nor against it |
Posted By: basant
Date Posted: 07/Nov/2007 at 5:43pm
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Ok!As you please.Will have to devote some more time and put things up. Let's see. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: nil_money
Date Posted: 07/Nov/2007 at 5:51pm
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thanks basantji ------------- Thanks, Nilesh |
Posted By: omshivaya
Date Posted: 07/Nov/2007 at 5:55pm
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Thank you Basant sir. Nil jee, my statement was meant as a joke. Hope it wasn't rude or anything. Sorry if it was. ------------- The most important quality for an investor is temperament,not intellect.A temperament that neither derives great pleasure from being with the crowd nor against it |
Posted By: snehaldani
Date Posted: 07/Nov/2007 at 7:43pm
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So many students, disguised as teachers, giving voluminous home work to the most intelligent student of the class !
How do you cope up with all these home works, Basantji ? ------------- Snehal P.Dani |
Posted By: basant
Date Posted: 07/Nov/2007 at 8:16pm
It is easy when your passion becomes your work or vice versa.What do you say? ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: smartcat
Date Posted: 07/Nov/2007 at 10:58pm
| Is that an invitation for more work load? I always carry a big list of stocks with me. |
Posted By: basant
Date Posted: 07/Nov/2007 at 8:19am
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Why not, if that is something which I can understand well. ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: nil_money
Date Posted: 07/Nov/2007 at 8:31am
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baskya OMji .... aapne sacchi me kuch bola to bhi bura nahi manunga ... afterall I m learning so much from u all ... waise bhi itni choti choti baate dil pe nahi leta ------------- Thanks, Nilesh |
Posted By: snehaldani
Date Posted: 08/Nov/2007 at 12:32pm
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Yes, "passion becoming work". That is what I have been also enjoying doing and nice to find like minded person, no matter how far away geographically.
------------- Snehal P.Dani |
Posted By: basant
Date Posted: 12/Nov/2007 at 6:29pm
CBOP is picking up new banks through takeovers etc and therefore its B/S does not improve but I expect huge operating leverage to kick in by 2010 their cost/income ratio is at 68% and the management expects to get this to around 50% by 2010. That should create enough ammunition for the stock.
Shall write a detailed note on that. Otherwise it remains a takeover play!
------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: snehaldani
Date Posted: 15/Nov/2007 at 5:34pm
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CBop is also presently undergoing the pains of integrating their LKB takeover and issues arising therefrom. NIM, Asset quality and profitability, each of these of LKB needs to be brought up in lines with those of CBop.
However, the takeover has provided them the depth of reach in Kerala and also enabled them to have many branches at strategic locations in big cities. CBop hopes to cross sell its various other products in these centres to make the acquisition fruitful . Possibly, it may take 3/4 quarters for it to pass through this hump.
However, one should not underestimate Rana Talwar. With his bigger picture vision and strategic networking abilities, who knows, he may already be weaving out one more takeover to enhance the overall value of the bank.
Present price around 40 does seem to offer value with time horizon of 15/18 months. ------------- Snehal P.Dani |
Posted By: vivekkumar_in
Date Posted: 19/Nov/2007 at 12:56pm
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Whats up with Centurion Bop ? why is it up in double digits today ?
Any rumours floating ? ------------- Often we forget there's a company behind every stock,and there's only one reason why stocks go up. Companies go from doing poorly to doing well or small companies grow to large companies. P Lynch |
Posted By: tyler_durden
Date Posted: 19/Nov/2007 at 1:47pm
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basant ji or xbox might have invested crores in double digit
on a serious note...most of midcaps are buzzing today... ------------- If you aren't fired with enthusiasm, you will be fired with enthusiasm. |
Posted By: tigershark
Date Posted: 19/Nov/2007 at 1:53pm
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aag lag gayi nitin fire ko bulawo ------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: basant
Date Posted: 19/Nov/2007 at 2:45pm
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For the moment it is playng catch up with other banks and on current earnings the stock looks priced in but huge operating levearge is set to accrue to CBoP over the next 3 years. I thought of writing a note over the weekend but had been tied up with somethging else ------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: vivekkumar_in
Date Posted: 19/Nov/2007 at 3:50pm
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Basantji !
I guess some Fund Managers are not just focussing TED, but also on your TDL (To-Do-List) ;-) ------------- Often we forget there's a company behind every stock,and there's only one reason why stocks go up. Companies go from doing poorly to doing well or small companies grow to large companies. P Lynch |
Posted By: mastersofworld
Date Posted: 19/Nov/2007 at 5:49pm
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I got news yesterday that it is supposed to go for one more acquisition.....Just came from sources and not sure..... Do u guys have any idea on Federal.....
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Posted By: basant
Date Posted: 19/Nov/2007 at 5:57pm
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Yes, that is on the cards but takeovers are more benefical for the bank that is being takenover rather then the bank that is taking it over - in terms of stock price.
There was a block deal today so maybe this spurt could be because of that we need to watch closely whether the price remians at that level or the spurt was because of the block deal only.
------------- 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in |
Posted By: tigershark
Date Posted: 19/Nov/2007 at 9:16pm
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50L SHARES AT 46 ------------- understanding both the power of compound return and the difficulty getting it is the heart and soul of understanding a lot of things |
Posted By: snehaldani
Date Posted: 20/Nov/2007 at 12:18pm
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Price continues to be steady around 47. Something seems to be cooking. While it is true that in the short term, it is the shikar which gets immediate benefit in terms of the price spurt, eventually, it is the shikari who has the last laugh if the latter is able to sort out integration issues successfully and does not land up with unknown intangibles post takeover. Rana Talwar is adorning his daughter for the matrimony in the right manner. Some one may send the daughter for higher studies, other may send to a finishing school. The days of teaching cooking and dusting have gone in cities and affluent homes. What Rana Talwar is doing is providing an enticing candidate with maximum geographical spread , high NIM (s)and right business model to the prospective suitor. For this, he would extract his pound of flesh in terms of exercising his warrants and laughing away all the way to the bank as and when he is able to stage the coup. ------------- Snehal P.Dani |