CFI tomorrow

Panduka1988 · 1 CFI tomorrow Sun Sep 04, 2011 11:34 pm

Panduka1988

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According to my knowledge this share (CFI) will definitely hit 400 tomorrow. Comment on this! Thank you!

Antonym · 2 Re: CFI tomorrow Mon Sep 05, 2011 12:04 am

Antonym

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Panduka1988 wrote:According to my knowledge this share (CFI) will definitely hit 400 tomorrow.

Comment on this!
Thank you!

@Panduka1988:
Colombo Fort Investments (CFI) hit Rs 385 on Friday, but closed at Rs 357.10.
Colombo Investment Trust (CIT), a related company, hit Rs 330 and closed at Rs 329.90.
God knows what will happen tomorrow. But, as I mentioned on another post...

CIT & CFI are both investment companies - part of the CFLB Group - that have a diversified portfolio of investments.

Both shares are presently trading at a substantial discount to their underlying net assets.
CIT's market value of investments: Rs 526 per share as on 30-06-2011
CFI's market value of investments: Rs 490 per share as on 30-06-2011
(For details, see Notes to June-11 financial statements and Annual Report 2010/11).

Over the past year, CIT has generally been trading about 9.5% higher than CFI.
Both shares are fairly illiquid:
CIT - Top 20 shareholders hold 95.91%
CFI - Top 20 shareholders hold 91.84%

Both shares crossed Rs 700 in Feb-11, but went into a steady decline thereafter. They seem to have bottomed out and now begun their upward journey.
Disclosure: I have a few shares of both companies, mostly in a locked account.

Carolis · 3 Re: CFI tomorrow Mon Sep 05, 2011 5:30 am

Carolis

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Panduka1988 wrote:According to my knowledge this share (CFI) will definitely hit 400 tomorrow.

Comment on this!
Thank you!

To me CIT is the best out of two. It is the most illiquid one.

Monster · 4 Re: CFI tomorrow Mon Sep 05, 2011 8:53 am

Monster

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Good comment Antonym +Rep from me.

As Carolis said, I would like to hold CIT than CFI due to it's illiquidity. Currently I am holding these two shares as my long term investment. Presently these two companies are trading discounted price, though the most of the investments are in related companies.