Though I am new here, I have been visiting and learning much from you all, a big thank you.
I have been advised to sell my cflb after the split and to buy into cit !
The cit data on the cse site does not look attractive.
Any info welcome.
Thanks
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specialist wrote:Yes it is best to sell the CFLB shares after the split because the prices would move up...
Thanks, I am wondering why there is such a lack of information re: cit ???specialist wrote:Yes it is Worth at the current Price level.
Antonym wrote:
But, wait! Have you looked at the Notes on the last page: "Cost of quoted shares as at 31st December 2010 was Rs 118 million against the market value of Rs 1,622 million." (Figures rounded off by me.)
Do the math - What's the actual Net assets per share on December 31st? Rs 296 or thereabouts? (Look up CIT's Annual Report 2009-10 and see CIT's portfolio; I'm guessing that their NAV should be at least Rs 325 - 330 now.)
Antonym wrote:This is not a recommendation to buy - that's for you to decide.
I just wanted to indicate that information is available if you are willing to search for it...
innam wrote:Antonym wrote:
But, wait! Have you looked at the Notes on the last page: "Cost of quoted shares as at 31st December 2010 was Rs 118 million against the market value of Rs 1,622 million." (Figures rounded off by me.)
Do the math - What's the actual Net assets per share on December 31st? Rs 296 or thereabouts? (Look up CIT's Annual Report 2009-10 and see CIT's portfolio; I'm guessing that their NAV should be at least Rs 325 - 330 now.)
Just to add, and to make sure no one gets too mislead- most of CIT's NAV increase comes about due to their ownership of 5 million CFLB shares.....given that CFLB is a group company with cross shareholdings in CIT as well, there is a reasonable doubt as to whether CIT will ever sell of their CFLB shares. The value may only be unlocked in the event someone takes over CFLB.
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