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CONSOLIDATED FINVEST & HOLDINGS LIMITED CMP: Rs 132
NSE SYMBOL: CONSOFINVT
Consolidated Finvest & Holdings Ltd is a part of B.C Jindal Group, a 50-year old industrial group.
Shri B.C Jindal's group is into manufacturing of Pipes and Pipe Fittings, Group is diversified into Polyester Film, BOPP Film, Photographic Goods, Cold Rolled Steel Strips, Galvanized Sheets, Metallised Films etc.
In Holding in Jindal Polyfilms and Jindal Photo has appreciated more then 50% within last 3-4 trading session.This is a major trigger in this stock and can take this stock to Rs 150+ within few trading session.
Consolidated Finvest and Holding Ltd was formed in 2004 as a Holding company just like other peer company Nalwa Sons Investments Ltd and Jindal Southwest Holding Ltd.
Consolidated Finvest and Holding Ltd is listed at NSE, it is a holding company and holds investments in all the companies under the B.C. Jindal Group.It own following subsidiary 1) Jindal Photo Investments Ltd. 2) Jindal India Finvest & Holdings Ltd 3) Jesmin Investments Ltd.
Consolidated Finvest & Holding Ltd along with its subsidiary companies hold stake in Jindal Polyfilms Ltd, Jindal Photo Ltd, Jindal India Ltd, Jindal Thermal Power Ltd. It's Consolidated Reserve along with its subsidiary companies stand at Rs 1000 Crore.
One of its subsidiary M/s Jesmin Investment Ltd hold 8.66 percent stake in Asian Hotel Ltd which is valued more then Rs 150 Crore. This can also be verified from Asian Hotel Ltd shareholding pattern at BSE.
Consolidated Finvest is a promoter of Jindal Polyfilms ltd and hold stake in the company, its total holding is valued more than Rs 350 Crore, it also hold stake in other group companies i.e Universal Foils Ltd, Rishi Trading Co. Ltd, Soyuz Trading Co. Ltd, Vigil Farms Ltd, Jindal Buildmart Ltd which are not listed. Soyuz Trading and Rishi Trading Co., Ltd are co promoter of Jindal Thermal Power Ltd which is setting up 5000 MW power plant in different states of India. Consolidated Finvest and Holding Ltd also hold stake in Jindal India Ltd which is unlisted firm and have sales more then Rs 700 Crore.
As per annual report of the company, Consolidated along with its subsidiary hold units of Mutual Fund and bonds in National Housing Bank, the total value stand at more then Rs 79 Crore. The value was calculated at 31st March,2009 since then the value of investment must have appreciated very fast as sensex has more then double from March,2009.
Total Investment in group companies along with reserve is more then Rs 1000 Crore against that its equity stands at Rs 32.33 Crore. Equity stake is distributed as follows: Promoters hold 71.54 percent, FII Acacia Institutional hold 8.62 percent, Corporate Bodies at 2.94 percent, Public Holding stand at just at approx 15 percent. It is interesting to note that FII-Acacia Institutional hold stake in Nalwa Sons Investment ltd and in Jindal Southwest Holding Ltd and also in Consolidated Finvest and Holding Ltd.
Comparison of Consolidated Finvest and Holding Ltd with its peer company is as below:
As on March,2009 (Data: NSE/BSE Website)
Company Name | Nalwa Sons Investment Ltd Amount (Rs in Crore ) | Jindal Southwest Holdings Ltd Amount (Rs in Crore ) | Consolidated Finvest & Holdings Limited Amount (Rs in Crore ) |
Income | 37.4 | 40.8 | 15.9 |
Consolidated Net Profit | 102 | 36.3 | 44.52 |
Consolidated Reserve | 650 | 606 | 666 |
Market Price Rs 12 | |||
Its peer company Nalwa Sons is quoted at Rs 1216, Jindal Southwest Holding Ltd at Rs 1875 while Consolidated Finvest and Holding Ltd quotes only at Rs 84. At current market price it total market cap is just Rs 200 Crore, Industry PE for such holding company stand at 60 and considering EPS of Rs13.77 (for 2008-9) it should quote more then Rs 600.
Consolidated Finvest and Holding Ltd along with its subsidiary have reserve at Rs 1000 Crore which is more then its peer company Nalwa Sons Investment Ltd and Jindal Southwest Holding Ltd.
FII Acacia Institutional hold stake in Nalwa Sons Investment Ltd, Jindal Southwest Holding Ltd and also in Consolidated Finvest and Holding Ltd which makes this company more interesting. Considering all above parameter Consolidated Finvest and Holding Ltd should quote more then Rs 400-450 within a very short span of time.
ANKUSH DHYAWALA
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