Looking for an intern equity analyst for global autos, auto ancs & semis coverage, preferably based in South Delhi, but NCR will also do. If anyone is interested, please DM me with your CV & pay expectations. This is a 6 month gig, but if all goes well, it can turn to FT position
Longish post on two stocks that continue to confound me - TVS Motors & Bharat Forge. For some reason, market doesn't give a damn about their loss-making international ops which appear in their consolidated earnings but only on an artificially inflated parent numbers.…
ITC at 400 prices the following on FY24 EV/EBIT:
Cigarettes at 18x (Godfrey/VST Ind @ 17x)
FMCG at 45x (HUL/Britannia/GCPL~47x/42x/40x)
Hotels at 30x (Indian Hot/Chalet/EIH~45x/39x/23x)
Agri/Paper at 7x (JK Paper~5x)
+ 4% dividend yield
In other words, no premium for cigarettes'…
ITC at 400 prices the following on FY24 EV/EBIT:
Cigarettes at 18x (Godfrey/VST Ind @ 17x)
FMCG at 45x (HUL/Britannia/GCPL~47x/42x/40x)
Hotels at 30x (Indian Hot/Chalet/EIH~45x/39x/23x)
Agri/Paper at 7x (JK Paper~5x)
+ 4% dividend yield
In other words, no premium for cigarettes'…
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