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Wealth Management
Strong Operating Holding Company with Significant Stake in Subsidiary Company
29-Oct-10
We have done a brief analysis on companies which have significant investment in their group companies or subsidiary and have potential to unlock the value. These companies are into the Power, Infrastructure and
Financial Services sectors that have significant growth potential going forward and continue to accrue the value for their holding company. These companies are not mere a holding company where the investment to
quote at discount, in fact these companies derived value from sound business of their own and their investment in subsidiaries works like cushion that provide unlocking opportunity in future.
Book Value of Investment Rs. Cr. 955.0 592.5 860.8 1720.0 446.0 17.6 41.1 185.3 14.9
Appreciation from Book Value Rs. Cr. 9411.5 2696.1 18887.6 15203.7 825.5 352.9 1883.7 3908.1 2746.7
Stake in Subsidiary Company Jaiprakash Asso. IB Real Estate Adani Ent. R. Infra PTC RSWM Monnet Ispat Godrej Inds. Polyplex Corp
Holding Company Stake in Subsidiary
%
(Mar -10) 83.16% 58.63% 70.25% 44.96% 66.60% 17.40% 87.5% 80.26% 70.00%
No. Of Shares Cr. 115.50 118.51 153.15 107.76 0.00 0.00 0.00 5.62
Current Value of its Stake Rs. Cr. 10366 3289 19748 16924 1271 371 1925 4093 2762
Value Per Share (Rs.) Rs. 48.79 81.90 367.73 691.13 43.17 160.08 368.31 128.89 1727.08
SOTP Value derived from Subsidiary % 40.6% 42.8% 52.2% 66.7% 32.1% 89.0% 61.6% 60.5% 196.0%