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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » CIT at 245.

CIT at 245.

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1CIT at 245. Empty CIT at 245. Fri Jan 06, 2012 12:34 pm

Carolis


Manager - Equity Analytics
Manager - Equity Analytics
Hi guys, This was selling over Rs600 at one stage and now only 245. What do you think? Is this a good buy at this price. Thanks

2CIT at 245. Empty Re: CIT at 245. Fri Jan 06, 2012 2:29 pm

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
It is a good share. As at Sept 30th 2011, the market value of CIT's quoted investments was more than Rs 472 per share. I think it is trading at a discount mainly due to lack of liquidity.

It is on my shopping list, but I would wait for the current downtrend to end before buying.

3CIT at 245. Empty Re: CIT at 245. Fri Jan 06, 2012 3:17 pm

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
It's in my shopping list too. As antonym said, it's an ttractive price when you look at it's market value of it's investment.

4CIT at 245. Empty Re: CIT at 245. Fri Jan 06, 2012 3:51 pm

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Analysing who is the ultimate holder of the CFLB/LCEY group is not straightforward.

In one considers the CFLB to be the parent of the group, then who holds CFLB?
If you analyze deep actually CIT has a prominent place. Why?

Out of the listed companies, CIT is the 2nd largest holder of CFLB .
4th largest holder of CFLB is CFI. But CIT is the largest holder of CFI ( 35+%)

As Antonym said the their portfolio value is over RS 470 . Am not sure whether CIT will ever dispose their group portfolio but if one want to take hold of CFLB then CIT is a key.

Now am not sure the prices will drop further if this down trend continues ( it can) . But I already bought a very small quantity as with a LCEY , CFLB run ( if any) CIT can run faster ;-)


5CIT at 245. Empty Re: CIT at 245. Fri Jan 06, 2012 4:22 pm

aj


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Sri Lankan share market is like Sri Lankan organization structures.
Lots and lots of managers / holding companies of other companies
but very few real workers / companies which do business / core business with real value, making products, selling products, etc.
No wonder foreign funds are existing. No future. These companies are like cakes. Doing nothing to increase their wealth. Only thing they do is buy other companies and count the net asset value. Truly Sri Lankan.
These companies reminds me of those old women who take out the left over gold jewelries they got from inheritance look at them, count them and bundle them and hide them in the old cupboard again.

6CIT at 245. Empty Re: CIT at 245. Fri Jan 06, 2012 9:46 pm

Kumar

Kumar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
EPS or Dividend paid are not attractive at all.
The Market value compare to 30/09/2011 now came down considerable amount.
Last couple of years most of the share prices were ballooned that made their PF attractive.
Even if you see the dividend received vs Market value of shares - very low percentage.
For me personally not a good investment even at this price.
There are so many good investments where we can get more reward.
This is my personal opinion.

CIT at 245. Untitl11

I would be happy and appreciate anyone can give me a concrete facts (may be that will change my view) that the price is fair at this moment?

7CIT at 245. Empty Re: CIT at 245. Fri Jan 06, 2012 11:10 pm

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
@Kumar: I agree that CIT's EPS & dividend yield are extremely unattractive.
But there are other reasons why CIT is worthy of consideration:
http://www.srilankaequity.com/2010/03/colombo-investment-trust-cit-crown.html

Besides, Net Assets per share is significantly understated in your table above because investments are valued at cost; today, based on current market values, NAPS would be approx Rs 410.

Caution: I may be biased because I hold some CIT shares (bought at Rs 320!)

8CIT at 245. Empty Re: CIT at 245. Sat Jan 07, 2012 12:45 am

Kumar

Kumar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Antonym wrote:@Kumar: I agree that CIT's EPS & dividend yield are extremely unattractive.
But there are other reasons why CIT is worthy of consideration:
http://www.srilankaequity.com/2010/03/colombo-investment-trust-cit-crown.html

Besides, Net Assets per share is significantly understated in your table above because investments are valued at cost; today, based on current market values, NAPS would be approx Rs 410.

Caution: I may be biased because I hold some CIT shares (bought at Rs 320!)

Thanks a lot for your clarification.As a value investor still I couldn't convince myself on these kind of shares.
(May be I'm wrong)
Short term trade may be this one will help on future price speculation.
Again thanks for your valuable feedback.

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