M&M - Will this Juggernaut Continue ? Let's look at growth engines from their Annual Report FY 22
7 Key Takeaways !!! Thread🧵Let's go...
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Disclaimer: Personal blog and not a reco. Kindly consult your financial advisor before any investment decisions
(1/N) - Reigniting value creation:
The company’s financial performance had taken a hit in the last few years because of the losses in the international subsidiaries resulting in the ROE of the consolidated entity going down to 4.4% in F21. THEY EXITED These BUSINESSES.
Now ROE in FY-22 is around 14%. ROE for last 3 consecutive quarter ~18%
5 kind of stocks that I avoid, Indian adaptation from "One up on wall street" - Peter Lynch. Thread🧵 Let's go...
(1/n) - Stock is in hot industry. While I am a believer in thematic investing. I prefer pick and shovel strategy. Not doubt EV is a hot theme. But rather than buying EV Car makers, I'll rather go for component makers
(2/n) - Next big thing... Really ? We have seen so many articles of next hdfc bank, next infosys... while no doubt companies can replicate that performance, but these stories can lead to unnecessary hype around stocks & valuation. Rings a bell ?
#Reliance - Biggest Heavyweight of the market.. Tanking today.. What happened.. Shall we find out ?
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(1/n) Govt today announced an increase in taxes on the export of petrol, diesel, and aviation turbine fuel (ATF).
It introduced 6/L tax on petrol exports, 13/L on diesel exports. This will dent Reliance profits, of which the Oil refining business was roughly 40% in Q4.
(2/n) The government has also announced taxes on windfall gains made by crude oil producers.