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Moneywise Profile picture
Moneywise
@CaJainankur
CA, CFA qualified || Amateur Investor, interest in #Specialsituation investing, love screening exchange filings| Not an RIA, tweets are 4 educational purposes|
3 subscribers
Oct 14, 2024 • 11 tweets • 2 min read
In my investment career of last 10 yrs, I could never had a concentrated pf. I maintain a PF of 50+ stocks including various #specialsiutation and #arbitrage positions.
Over the last 5.5 years I have been tracking my PF and it generated an alpha of 7%+ pa vs Smallcap index.
1/n Major alpha came in last 2 years. If I can introspect what could have worked for me despite having an overdiversified PF, there are just a few simple process:

1. Avoid overleveraged businesses, or businesses having bad balance sheet such as high receivables.

2/n
Sep 3, 2023 • 14 tweets • 5 min read
G G Engineering Ltd
It is case study how promoters listing on SME platform loot investors.
The co brought its IPO at Rs20 each in 2017 and got listed on #BSE SME.
As on Mar2018, the promoter held 73% shares, and from there they kept selling. As on date they have less than 2%
1/n Image And while they were selling their stake, the stock was taking new highs. In fact the Mar2022 quarter when they reduced stake from 43% to 3%, the stock was over Rs40 which though have saw a sharp fall from the top.
Meanwhile they were engaging investors with #bonus and #split 2/n
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Dec 1, 2022 • 14 tweets • 4 min read
In last 1 year, I participated half dozen #rightissue #arbitrage opportunities and found that it is one of the most unexplored way of making decent money with limited risk.

#specialsituation
I have listed my return and learning from all of these opportunities : Threads follows 1) #NATURAL CAPSULES Image
Nov 23, 2022 • 5 tweets • 1 min read
How does #rightissue #arbitrage work?
Let us take a recent example of #Suvenlifescience

Had applied 4X my rightissue entitlement, & got allotment of 2.4X my entitlement.

The excess allotment came at the cost of ignorant SH.

How? Against 80k total SH as on 30 Sep, only 10.5k SH applied for the right issue.

How did it benefit an arbitrager?
On the Ex date, script price gets adjusted for the #rightissue in the same way the price gets adjusted for Bonus, Dividend or Split; accordingly it is a zero sum game
Nov 6, 2022 • 9 tweets • 3 min read
#ISMTLTD #ISMT Ltd & #KIRLFER #Kirloskar Ferrous Industries Ltd (KF) announced a mega #merger plan. #specialsituation

If we recollect, KF had done a major investment in ISMT in Mar 22, and ISMT settled its huge debt with lenders at a huge discount.

Here is my quick learning:- 1) KF has fully backward integrated operations ranging from iron ore mines to machined castings as well has a very strong client base across the globe. ISMT is one of the most diversified manufacturers of specialized seamless tubes in the world.
Aug 27, 2022 • 20 tweets • 5 min read
Recently I learned, #Right Issue by a listed company can be a great opportunity for an investor to make quick & decent money. While I will try to explain the process and risks of applying in a Right Issue, let us first look at the result of the few right issues applied by me. 1/n #NATURAL CAPSULES LTD 2/n