Cox and Kings (India) Limited IPO Message Board (Page 15)

approximately 0.5 times in retail till 3pm

How come the QIB and HNI portion are not hugely oversubscriped for Cox and Kings. Very strange. Something is fishy. I have applied for 1 lakh reading all analyst reccomendations. But now looking at the QIB and HNI figures I am having a doubt...

2.5 times subscription in retail segment till 14:00 hrs

0.4 times till 2pm today

Any news on retail subscription till now

75. Ramesh,

The reason for my negative saying is:

Fair value is roughly around 457. IPO pricing is 330 i.e. around 35% discount. To expect listing gain, 50% discount in IPO required for issue size of above 500 crores (this IPO has 610 crore issue size).

You can find many companies in secondary market @ 35% discount to 2009-10 estimated earnings. However, unlike other recent IPOs, I don't expect tepid listing in store for this.

I would have applied in full (1 lac) had it offered around 300. However, I would invest Rs.50,000 at 330 subject to stop-loss @ 316.

Travel Agent - Travel Agent -

THINK BEFORE YOU ALL APPLY

dear chirag,
the way recent ipo's have listed cox & king may list at half rate & may go into 'B' or 'Z' category

0.25 times in retail till 12noon

SMC Research said,
With rising disposable incomes among Indians and a willingness to spend on travel, C&K seems well positioned with its proven track record to provide a customized high quality travel experience to its customers.

Looking at post issue valuation, the company is trading at a P/E of 31.68x times on the lower side and 33.08x times on the higher side of its post issue consolidated FY09
EPS of Rs.9.98.


At November 17, 2009 11:19 PM, Anonymous said...
Sharekhan in its report says,
Our very rough estimates suggest that at the lower and at the upper end of the price band the stock would discount its FY2010E earnings by 15.5x and 16.2x respectively and its FY2011E earnings by 11.5x and 12.0x respectively. That is reasonable compared with the valuations of its international
peers.


At November 18, 2009 1:22 PM, Anonymous said...
EMKAY Share recommends a subscribe with the following note,

For Thomas Cook most of the earnings are contributed by
Forex segment which is a low margin area. Whereas C&K has strong core business of outbound travel especially Euro region which is a high value high margin segment. The
new initiatives of company in rail tourism have potential to add significantly to both top & bottom line going forward. Visa processing is another niche area where company can score over its peers.

Though at the upper band the stock appears to be fairly priced we still recommend Subscribe due to strong brand equity, high operating margins & potential of earnings
from new initiatives.


At November 18, 2009 2:10 PM, Anonymous said...
HSBC shares the same view as the author of the original article did,

Considering the recent growth rates, the offering of C&K at 20XFY10E and 15XFY11E (considering 25% growth in earnings), appear
relatively cheaper. Some marquee investors in the company include Lehman Bros., Deutsche Sec, Merrill Lynch. Together they would hold
8.2% of the post issue paid-up capital.

Being the leader in the industry, C&K would draw premium valuations. Investors should subscribe to the issue from a medium to long term
investment horizon only. One should not however expect any major listing gains.
NOTE- EMPLOYEES WHO KNOW MORE THAN ANYONE ELSE ARE NOT PUTTING ANY MONEY IN THE IPO!

Can anyone tell me how much retail subscription in this ipo till 12.30 PM??

110. Taxman.

Hold with a stop-loss of 8 for a target of 17+. If crosses, 20, then 31. Below 8, it may fall to 3.

The 8-Year Cycle and its implications

The Sensex is assumed to be under a larger 8-year cycle ever since its birth. 1984 was the beginning of 8-year long bull-run till '1992.

The next two important turning points occurred exactly 8 years thereafter, in '1992 and '2000. Both these turning points were marked by stock market scams, because of which the leaders of the rally had extremely difficult time later. For example, ACC, the leading stock of '1992 bull market, remained below its highs till end of '2004. Similarly, the IT stocks, which were leaders of '2000 rally, lost as much as 90% or even below of their top valuations by the year '2003, and most are below their top levels even today.

Last year, we were sitting on this very important cycle, which therefore, threw up similar possibilities.

Remember, every 8 years, market does see a deep cut in valuations. In the previous 8-year cycle top during ‘1992-93, Sensex lost 56% from 4546 to 1980. In the next cycle top, the cut was almost 58% from 6150 in ‘2000 to 2594 in ‘2001. Time-wise, ‘1992 cycle completed the bear phase in 12-16 months, while the ‘2000 cycle took 19 months only to hit the low, which was then followed by 19 months of base formation before bull phase could begin again.

Accordingly, as per technical analysis, last year targeted sub-10k levels for Sensex price-wise, and a minimum of 13 months into bear phase time-wise. Index achieved the forecast price/time targets.

In which group it will list.

pls ans me

financial data is shown in the lac rupees which i think is wrong. it should be in million rupees.

Company Financials:
Particulars For the year/period ended (Rs. in Lacs)
readers should take note of it.

Hello friends,
It is extremely difficult to gauge the stock market. Patience OK, but fundamental, i don't agree. What has changed for Tata Motors in the past one year and why should it move up from 130 to 600 today? Has the company started to give results 4 times? Similarly Tata Steel, Ashok Leyland, etc. Why Educom enjoys such a high valuation? Whereas Reliance does not enjoy the same valuation, though it is now traing cum bonus. So, fundamentals, performance, management, all...........just for talk only.

As regards Austral Coke, yes, it has been beaten down anything, but high quantity of trading takes place. Company's performance not bad, but the promotors got into scam, whether it is with the Company or not we don't know. But they compete with Gujarat NRE Coke, which was quoting at 22 but steadily moved up to 66 now. We need to wait and see, but Austral certain we can accumulate, if it goes down by another 2 or 3 rupees

If any other Boarder want to share his useful views
he is most welcome, BUT those who have no home work
& just ideas (?) person they should avoid to reply this post
as this will save our & their TIME & Money
Thanks in advance to all

Ravi Banglore


I want your comment on AUSTRAL

I have a close watch on this scrip
Company is doing good business
But it has involved in 1000 cr. Scam
as per (SEBI / IT record)
Is it a falling knife?

When Satyam (?) had 4000 cr. Scam
Their share fall to 6.5 again rise to more than
100 then why not AUSTRAL
Austral daily av. trading is very heavy
Who one is playing game?
Is it worth to accumulate at this stage?
Please Comment Both Positives / Negatives?

Dear Retail Investors,

Don't press panic button and apply for these IPO's.

Remember market pays back to those who have patience and do their home work well. Don't gamble in IPO for time being. The listing gains will not be beyond Rs. 15. Should you risk your money for listing gains. Think it over and take a step. Many of the comments below are good and suggest it is not worth to go for this issue.

See the past of ipos from 2006-2009...

only thoose ipos are sustaining which are fairly priced no matter whether it is reliance, Adani, government PSUs or Indiabulls power(stock broking company)

ONLY VALUATION MATTERS...Speculation are done by FII/HNI/Companies to attract the retailers so that they can loot their money...

Retailers are fool but not FIIs...

"ONLY VALUATION MATTERS"

Hello ipo expert..

They will give 200 /- now & on listing day you will loose 2000/-..& company will get malamal...

What is the system here...But few greedy people will get attracted for 200/- & they will loose ultimately...

Let's teach lesson to these type of company by not applying in IPO....

Thanks romeo for such a wonderful inside info...