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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » LGL Earn 300 million BY Disposing the LGL Capital to CDB

LGL Earn 300 million BY Disposing the LGL Capital to CDB

+2
MARKETWATCH2
fireshelter
6 posters

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fireshelter

fireshelter
Associate Director - Equity Analytics
Associate Director - Equity Analytics

Monday LGL will Fly

MARKETWATCH2


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Upside potential around Rs.40 in the short run.

fireshelter

fireshelter
Associate Director - Equity Analytics
Associate Director - Equity Analytics

I couldn't able to get in to the Boat i will get in on monday

Nitro 7


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

MARKETWATCH2 wrote:Upside potential around Rs.40 in the short run.

What are you saying? Already trading between Rs 40-41

dineshfernando


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

LGL.N is more attractive now and will go to Rs. 50 soon.

Selling of Leasing company is a good decision by LGL and now they can concentrate on core businesses. They made over Rs. 300 million capital gain.

MARKETWATCH2


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Nitro 7 wrote:
MARKETWATCH2 wrote:Upside potential around Rs.40 in the short run.

What are you saying? Already trading between Rs 40-41

closing price Rs.39.60 on Friday. next Rs.40

Nitro 7


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Yes Rs 50 is good

Also there will be big quantities trading around Rs 45 range and who knows, Rs 60+ maybe possible within 6-12 months time...

dineshfernando wrote:LGL.N is more attractive now and will go to Rs. 50 soon.

Selling of Leasing company is a good decision by LGL and now they can concentrate on core businesses. They made over Rs. 300 million capital gain.

Nitro 7


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Question is will CDB go up? CDB should be over Rs 100 based on sector PE

nickjava


Manager - Equity Analytics
Manager - Equity Analytics

is this capital gain figure is correct?, anyway LGL was in a uptrend last week, with this news, more fuel will be added to the engine. for me LGL.X is the most attractive.

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

dineshfernando,

LG Holding(NOT LGL) earn 425 million BY Disposing the LGL Capital to CDB.
LG holding not earn capital gain.

therefore LGL price did not move.

Harry82

Harry82
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

BUT CDB may pass Rs 100.00

nickjava


Manager - Equity Analytics
Manager - Equity Analytics

Harry82 wrote:dineshfernando,

LG Holding(NOT LGL) earn 425 million BY Disposing the LGL Capital to CDB.
LG holding not earn capital gain.

therefore LGL price did not move.

true. just read the announcement, its the LG holding who gains the capital gains. i dont think their would be any effects on the accounts of LGL.

Nitro 7


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

In time...still trying to break Rs 85 level

Harry82 wrote:BUT CDB may pass Rs 100.00

dineshfernando


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Overall it's a good news for the LGL group. They may have disposed it due to many reasons. Anyway, LGL did not run much and deserve for a run now. LGL may go to 50 as buying interest is forming.

Recently one of the LGL directors collected 1 million shares at 35.
http://cse.lk/cmt/uploadAnnounceFiles/2851406182704_1020.pdf

CDB already had a good run from 55 to 85. It may go to 100.

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