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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Why would anyone sell NDB.N massively at this time?

Why would anyone sell NDB.N massively at this time?

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Dinith

Dinith
Equity Analytic
Equity Analytic
I was looking at NDB.N and today's Share Volume was 1,053,900.
I fail to understand the massive selling in this counter.
Does this mean 'force selling' is still on?

RockStock


Manager - Equity Analytics
Manager - Equity Analytics
Newly appointed Director of NDB Mr Ashok Pathirage has bought 1 million shares at 135. Refer www.cse.lk-Director's dealings

eagle


Stock Analytic
Stock Analytic
@Dinith wrote:I was looking at NDB.N and today's Share Volume was 1,053,900.
I fail to understand the massive selling in this counter.
Does this mean 'force selling' is still on?

Answer is here

http://www.cse.lk/cmt/upload_cse_announcements/3051313663557_.pdf

seems Ashok has bought a lot

Dinith

Dinith
Equity Analytic
Equity Analytic
Thanks RockStock and eagle.

So, that means its a good sign.
Phew... I was worried there for a while.

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Dinith wrote:Thanks RockStock and eagle.

So, that means its a good sign.
Phew... I was worried there for a while.

NDB figures may good in numbers. But this is well known as a seller's share. In the past most of heavyweight investors who bought this counter tried to exit soon and that tread still continues..

Noone really like to keep this share for long it seems. (Unless they are trapped)

In any market there are some counters good in fundamentals but not attractive to investors...

RockStock


Manager - Equity Analytics
Manager - Equity Analytics
@UKboy wrote:
@Dinith wrote:Thanks RockStock and eagle.

So, that means its a good sign.
Phew... I was worried there for a while.

NDB figures may good in numbers. But this is well known as a seller's share. In the past most of heavyweight investors who bought this counter tried to exit soon and that tread still continues..

Noone really like to keep this share for long it seems. (Unless they are trapped)

In any market there are some counters good in fundamentals but not attractive to investors...

Unlike other counters in banking sector, NDB offers universal banking and finance solutions, including retail banking,leasing, project financing,development banking,Venture capital,Stock brokering,Insurance via Aviva-NDB.Theoretically this should trade at a higher P/E than other banks.Of cause the draw back is the management is a bit conservative in their approach. We'll see whether Mr Ashok Pathirage can induce his Aggressiveness to NDB Laughing

sajeethk


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
i think that price level good to collect NDB. cos it may pick up soon.

Dinith

Dinith
Equity Analytic
Equity Analytic
Mr. Ashok Pathirage has bought 470,000 more today.
Him being the Director and the Deputy Chairman may not sell anytime soon.
In my opinion, if he continues to buy like this, the counter would get stable.

Dinith

Dinith
Equity Analytic
Equity Analytic
Ashok keen to buy more of NDB
Published : 1:00 am August 22, 2011

Deputy Chairman Ashok Pathirage is keen to buy more shares of NDB Bank, if available at the right price.
On Friday, Ashok, who is the Chairman of Softlogic Holdings, bought 470,000 shares at Rs. 135 each in a deal worth Rs. 63.4 million. This was after he picked up one million shares at the same price on Thursday.
The 1.5 million shares in NDB Bank amounts to nearly a 1% stake, for which he had spent around Rs. 202 million. Ashok bought these shares from a foreign party.
“I am keen to buy more NDB shares if available at the right price, because I have confidence in the ongoing moves to make the Bank more dynamic and successful,” Ashok told the Daily FT.
In February this year Ashok, considered as one of the most dynamic and successful businessmen, was appointed to the Board of NDB Bank, whilst last month he was made Deputy Chairman, a newly-created post.
Originally appointed as a Non Executive Director, Ashok has now become the Director with the largest shareholding. State entities/funds Bank of Ceylon, EPF, SLIC, ETF and NSB collectively own a 33% stake in NDB Bank.
Following the demise of Manik Nagahawatte, another business leader and long-standing Director, Hemaka Amarasuriya was appointed as the Chairman of NDB Bank.
Since July last year the NDB Bank Board has seen several new faces. In one go, Sarath Wickramanayake, Anura Siriwardena and Kimarli Fernando were appointed, followed by Sujeewa Rajapaksa and Ashok.
http://www.ft.lk/2011/08/22/ashok-keen-to-buy-more-of-ndb/

limestone

limestone
Manager - Equity Analytics
Manager - Equity Analytics
National Development Bank PLC (NDB)
Earnings

Earnings 13.110
Shares (Millions) 164.202
Price/Earnings (Trailing) 10.374
Relative P/E 0.674
ROE 14.542

Fundamentals

Market Cap (Millions) 22,331.460
Last Dividend Reported 2.250 Final
Dividend Yield (ttm) 3.125
Relative Dividend Yield 2.028
90-Day Volatility 19.088
Beta vs. CSEALL 0.961

source : Bloomberg

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