A trivia: Lalit Modi, the IPL head honcho, is the son of K.K.Modi (GP promoter)
Disclosure: Own Godfrey Phillips, VST and Philip Morris International, though position might change at any time
Friday, July 31, 2009
Godfrey Phillips
The second largest cigarette company in India reported a great 1Q10, like VST. Cigarette's biz operating profit went up by 45% as the company took price increases. It recently got the Indian distribution for Marlboro, and has launched in new territories (West Bengal and Tamil Nadu). Even after the run this week, it is trading at 10x (and possibly below).
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3 comments:
Any views on the broad market from here?
Well I am massively long (though most of it is in defensives like telcos). What everybody - including me - is betting on is this 6 months window where we get growth (due to govt stimulus etc) and no inflation.
Late Sep early Oct is when people get jitters on holiday spending. So maybe early Sep is the time to start taking some money off the table. But till 10year bond yields remain low and oil prices remain well behaved, it is very hard to make a 20% correction case.
Godfrey Phillips sound like an old english name.
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