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Manish Chokhani – An expert who sees young India driving the growth

Manish Chokhani – An expert who sees young India driving the growth
by 5paisa Research Team 22/11/2021

Chokhani is one of India’s most respected financial advisors.

Manish Chokhani was the CEO of Enam Securities, India’s leading investment bank that was the trusted “house banker” to several leading corporates. In 2011 he led the merger of Enam Securities with Axis Bank to create Axis Capital, which continues to lead the league tables in India. He has also helped to devise and implement the India investment strategies of several funds including the India Capital Fund, ZA Capital Fund and TPG Growth India (as Chairman).  

Chokhani is currently a Senior Advisor to TPG Capital. He also serves on the boards of the publicly listed Zee Entertainment, Westlife Developers (McDonald's) and Shoppers Stop as well as on the Governing body of Flame University. He is one of the youngest MBAs to have graduated from the London Business School and a Chartered Accountant.

A seasoned finance professional, Chokhani saw a travesty in March 2020 meltdown. He was encouraging investors to grab the A-listers, at discounted prices. Chokhani maintained that trustworthy and good companies would stand to gain as the economic cycle recovers. And as foreseen by him and many other market pundits, the economic cycle did pick up, in a way that defied all expectations and assumptions. And today look at the recent corrections.

Words of wisdom from the expert Manish Chokhani?

He feels that India is in unprecedented times where drivers for growth are coming from all corners - the new age young retail investor’s enthusiastic participation, the disinvestment by the Government and the Birth of Unicorns (in the likes of NYKAA, PAYTM, ZOMATO), and the traction in the corporates. He is optimistic about India’s Growth story going forward. According to him, the markets have paused for a breath and would continue their onward journey to a full economic cycle. Multibaggers are there to stay and there to evolve.

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Sankaran Naren - Torchbearer of successful mutual fund schemes

Sankaran Naren - Torchbearer of successful mutual fund schemes
by 5paisa Research Team 22/11/2021

Sankaran Naren is India’s leading Mutual Fund and Capital Market Investment Guru, is an advocate of Value Investing and Contrarian Style.

The rich experience of Sankaran Naren in the industry and his reputation precedes him. Sankaran Naren is the executive director and chief investment officer at ICICI Prudential Mutual Fund. He has a diverse set of experience in all spectrums of the financial service industry ranging from investment banking, fund management, equity research and stock broking operations.

Naren oversees investment functions across ICICI Prudential Mutual Fund and International Advisory Business. He has been instrumental in the overall investment strategy development and execution at the company. With an experience of 26 years and currently managing an AUM of Rs 1,09,099 crore across 38 schemes, he has been a pillar of strength for ICICI Prudential Mutual Fund. His views on macro and markets feature prominently across media, both locally and globally.

An alumnus of IIT Madras and IIM Kolkata, he has served various roles in the financial services industry and investment management. Through the course of a long career, he has worked with organizations such as Refco Sify Securities India Pvt Ltd, HDFC Securities Ltd, and Yoha Securities. He is also a member of the Committee on Equity Matter at AMFI.

Sankaran has to his credit some of the most successful flagship schemes at ICIC Prudential Mutual Fund which has compounded investors wealth over years. ICICI Prudential Multi Asset Fund, ICICI Prudential Small Cap Fund, ICICI Prudential Large & Mid Cap Fund, ICICI Prudential Value Discovery Fund are a few of the top-rated funds under Naren.

“We believe, by and large, in reversion to mean. We believe, over a period of time, a sector doing very badly will do better and a sector doing very well will do very badly, ” says Naren.

Naren self professes to be wary of the bull market where market frenzy is fuelled by greed and irrationality. His advice is to watch out for the neglected sectors, stocks that have escaped the eyes of the market participants, to invest well in time only to cash out once the sector catches the market frenzy.

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Meet the experienced stock market guru - Prashant Khemka

Meet the experienced stock market guru - Prashant Khemka
by 5paisa Research Team 22/11/2021

25 years of experience and a strong fundamental screening has made this portfolio manager outperform the market.

Investment Philosophy of Prakash Khemka

Prashant Khemka’s screening process steers clear of businesses with weak characteristics such as poor corporate governance, weak incremental returns on capital and those that face obsolescence risk arising out of technological developments.

Prashant founded White Oak Capital Management in June 2017. He is the former CIO and lead portfolio manager of GS India Equity at Goldman Sachs Asset Management (GSAM) from March 2007 to March 2017, and also for the Global Emerging Markets (GEM) Equity from June 2013 to March 2017. As lead PM, he managed all mutual funds and separate accounts under these strategies.

Currently, under his leadership, two portfolios are managed in White Oak Capital Management PMS.

1. White Oak India Top 200 PMS

The objective of the strategy is to achieve long term capital appreciation by primarily investing in top 200 ‘listed securities’ by market capitalization in India.

The 6-month return is 22.8% which has outperformed the index (S&P BSE 200 TR) with 83bps.

The top 3 Contributors to alpha are Coforge, Persistent systems, Bajaj Finserv and the top 3 detractors are Indigo paints, Nestle India, HDFC Bank between January 22, 2021, to September 30, 2021.

2. White Oak India Pioneers Equity Portfolio

The objective of the strategy is to achieve long term capital appreciation by primarily investing in top 200 ‘listed securities’ by market capitalization in India.

The 2-year CAGR return is 36.1% which has outperformed the index (S&P BSE 500 TR) with 746bps.

The top 3 Contributors to alpha are Coforge, Navin Fluorine International, Abbott India and the top 3 detractors are Delta Corp, Infosys, Axis Bank between April 9, 2019to September 30, 2021.

The alpha skills of the celebrated Fund manager are as under - Two crucial steps in stock selection

1. Disciplined Research Process

Intensive fundamental research to assess business attributes, and valuation derived from proprietary OpcoFinco™ framework. The structured screening process to assess the governance-DNA of a company is a starting point of the research process. Build a 360-degree perspective on any business through an extensive schedule of plant visits, meetings with company management, competitors, suppliers, customers and other trade participants.   

2. Balanced Portfolio Construction

Ensure alpha generation is a function of stock selection through a balanced portfolio of companies. Invest in businesses and consciously avoid market timing, sector rotation or other top-down macro bets. Understand, monitor, and aim to contain residual factor risks that are the by-product of stock selection.

  

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Cyrus Poonawala: A horse enthusiast who became the vaccine king of the world

Cyrus Poonawala: A horse enthusiast who became the vaccine king of the world 
by 5paisa Research Team 22/11/2021

Cyrus Poonawala is known for his flamboyant lifestyle has a net worth of USD 18 billion.

Serum institute which was founded in Pune in 1966 went on to become World’s largest vaccine maker. And in turn made its founder a billionaire, the 5th Richest Indian in 2021 and a regular in the World’s billionaires list.

"We reach more children than Coca-Cola and Pepsi can ever hope to."- CYRUS POONAWALLA 

Today it is estimated that about 65% of the children in the world across 170 countries receive at least one vaccine manufactured by Serum Institute. Such is the positive impact to mankind by the vaccine manufacturer.

Cyrus Poonawala is the chairman and managing director of the Cyrus Poonawalla Group. Born to a horse breeder in Pune, Cyrus, founded SII in 1966 as a sideline to his 81-hectare (200-acre) thoroughbred racehorse stables Poonawalla Stud. Serum from purified horse blood was used in the production of early vaccines for diphtheria, tetanus, and scarlet fever. Today, this billionaire and a horse enthusiast played a significant role to help the world combat many life-threatening diseases and the deadly Coronavirus.

Serum Institute produces over 1.5 billion doses annually of a variety of vaccines, including measles, polio and flu. Serum has multiple Covid-19 vaccine partnerships and has launched Covishield, the vaccine developed by AstraZeneca and Oxford University.

Poonawala is a regular on Forbes Billionaires since 2007. In March 2017, he was listed as India’s number 7 on the richest billionaire's list and 159th in the world, with a net worth of USD 8.1 billion.

Poonawalla was listed at 170th on the Forbes billionaires’ list for 2018, with a net worth estimated to be USD 9.1 billion which was valued at USD 9.5 billion in 2019.

He secured the 165th spot in 2020 with a net worth of USD 8.2 billion, the 6th richest Indian that year.

The Serum boss was listed at 169th on the Forbes billionaire’s list for the current year and 5th richest Indian with a net worth of USD 12.7 billion.

In October India became the third country to have administered 1 billion Covid jabs. The country achieved this feat in 278 days since the first vaccine, which was given on January 16, 2021, with more than 80% doses of Covishield.

The current net worth of the “Vaccine King“ is USD 18.1 billion. With every dose of Covishield administered a life is saved and a small fortune is made Cyrus Poonawala.

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Superstar stocks for tomorrow!

Superstar stocks for tomorrow!
by 5paisa Research Team 22/11/2021

Looking for stocks that could deliver good returns till tomorrow, here are the superstar stocks for tomorrow selected on a three-factor model.

Many of the time market participants see a stock opening with a gap-up and wish they should have bought this superstar stock a day before to take advantage of the gap-up move. To fulfil this wish, we have come out with a unique system, which would help us to get the list of candidates that can be probable superstar stocks for tomorrow.

The superstock stocks for tomorrow selected are based on a three-factor prudent model. The first important factor for this model is price, the second key factor is the pattern, and last but not least is the combination of momentum with volume. If a stock passes all these filters it would flash in our system and as a result, it will help traders to spot the superstar stocks for tomorrow at the right time!

Here are the superstar stocks for tomorrow.

Godrej Industries: Despite market bleeding on Monday, the stock is trading rock solid by being 1.23% up. Initially, the stock fell but huge buying was seen at lower levels. The outperformance against broader indices today suggests the good strength of the stock for coming days. It witnessed above average volumes and the RSI is in the bullish territory and the stock looks attractive for coming day.

Dabur: Dabur is trading flat despite all the stocks are heavily bleeding on Monday. The stock of Dabur was rising throughout the day before correcting a little. The RSI going at 50 despite poor market indicates strength of the stock. Above average volumes were recorded today. Dabur is a strong candidate for gap-up if the market remains positive tomorrow given the fact that Dabur traded strong today.

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Multibagger Alert: This speciality chemical company has given investors a return of 231% in the past year

Multibagger Alert: This speciality chemical company has given investors a return of 231% in the past year
by 5paisa Research Team 22/11/2021

On a YTD basis, the stock has given a return of 241%.

Leading manufacturer of aliphatic amines and speciality chemicals in India, Balaji Amines Limited has given investors stellar returns of 231.4% over the last year. The share price stood at Rs 953.75 on November 18, 2020, and since then, the stock has more than tripled investor wealth.

Balaji Amines manufactures, sells and exports methylamines, ethylamine and derivatives of speciality chemicals and pharma excipients in India. The firm serves pharmaceuticals, agrochemicals, refineries, paints, water treatment chemicals, dyes, coatings, polymers, textiles, personal and home care, animal nutrition etc.

On a standalone basis in Q2, Balaji Amines reported robust revenue of Rs 435.12 crore, which was up 54.92% YoY driven by higher realizations. Operating profit came 41.31% higher YoY to Rs 102.06 crore. Operating margins contracted to 22.49% from 24.85% due to high raw material prices and increased power and fuel cost. PAT was reported at Rs 69.59 crore was up 46.01% YoY. The management of the company expects better H2FY22 performance and have guided for 8-10% volume growth in the amine business of the company into consolidated revenue guidance of Rs 1800-1850 crore in FY22.

The global amines industry is expected to reach US$ 20.8 billion by 2025, registering a CAGR of 3.6%. The oligopolistic nature of the industry leaves a country with just a handful of producers catering to the majority of the demand in the region. The increasing trend of industrialization and expanding manufacturing sector, coupled with factors such as growing population and rapid urbanization are likely to have a positive impact on the demand for amines in the years to come.

Moreover, due to stricter environmental norms, tighter financing, and consolidation, the structure of China’s chemical industry is changing causing uncertainty for international players that source chemicals from China. This has created opportunities for Indian chemical companies to ensure uninterrupted supply. This coupled with stringent policies in regulatory norms, slow economic growth and the rising cost of labour across the globe has improved the sales volume of domestic chemical manufactures such as Balaji Amines.

At 1.15 pm on Monday, the stock is trading at Rs 3040.85, down by 3.79% or Rs 119.90 per share on BSE. The 52-week high of the scrip is recorded at Rs 5,220 and the 52-week low at Rs 850 on the BSE.

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