저자: 산지브바스카 · 외국인
요약 보기
라케시 준준왈라가 최근 15거래일 동안 타이탄 지분 약 1.4%를 블록딜로 매도했으나 여전히 약 7.3%를 보유 중이라는 소식으로 시작한다. 타이탄은 최근 3년 누적 수익률이 약 36%로 매우 높았지만, 최근 두 달 동안 약 15% 하락해 상대적으로 부진했다. 밸류에이션은 2년 선행 이익 기준 약 40배 이상으로 높아 부담이 크다는 평가다. 출연자는 지분 매도는 시장 과열(유포리아) 때 나오는 신호이며, 타이탄 주가는 큰 충격 없이 소화됐다고 봤다. 중소형주(미드캡)는 30~50% 하락해 가격 매력은 생겼지만, 하락만으로 매수 근거가 되지는 않는다고 경고했다. 다만 출연자는 우량 대형주 중심으로 지금 매수하는 것이 유리하다고 주장했다. 기업 펀더멘털과 수익성 개선이 확인되는 종목에 한해 매수 확률이 높다는 입장이다. 2003~2007 강세장에도 시장이 두 번 서킷브레이커를 맞는 등 큰 변동성이 있었다는 점을 언급하며, 바닥을 기다리기보다 리스크 대비 보상이 좋은 시점에 사야 한다고 강조했다. 출연자는 중소형주에 대한 매수 권고를 명확히 하지는 않았으나, 전반적으로 하락 구간을 매수 기회로 보는 시각이다.
다듬은 글
yesterday it was reported on the exchanges that raak junjun Wala himself has stole sold a little over 1.4% of his stake and stake in the company uh in multiple block deals over the last 15 trading sessions uh now this is very interesting because you know he still he earlier had around a 99.6% stake and post the you know entire stake sale that has happened he still owns around 7.3% stake uh now you know we're trying to understand you know the kind of money that you know Titan has made for Rakesh and if you're looking at it you know the cash return for Titan in just the last 3 years has been almost 36% you know almost an unheard of kager return and you know obviously it looks as though you know you would at some point of time want to book some amount of profit uh however in the last two months you know stock has been a relative underperformer stock is down almost 15% and also if you're looking at valuations Titan at this point of time is very richly valued it appears as though most of the you know retail of financial savings into the jewelry sector that you know they were betting big on seems to have played out as far as at least the Val is concerned and almost at a little over 40 times 2E forward earnings Titan at this point of time is quite richly valued but it'll be very interesting to see how the street reacts to the big bull actually exiting part take in Titan industri is up sanal good morning thank you for joining us uh midc caps that's what everyone ask you don't even need to use words now yes I think uh see you need you need to markets are not going to tell you when they're going to bottom and top so you have to buy the stocks when you like them and at the right price so I think recent you were just talking about some sellout in Titan by a large investor so that's the right strategy like you sell when there's Euphoria when there is Extreme positivity and when people believe that nothing can go wrong in that stock and so I think it's a and the stock apparently would have been sold without much of an impact because Titan has just held on so I think it was a it's a great move so I think that's how you buy and sell stocks so right now many of the midcap companies are under distress valuations 40 50% down also in many cases so I think this is the time to buy so I'm very clear that people should buy now not wait for when the bottom will happen What will be the bottom not bother about that because the risk reward at this stage is extremely favorable no we making this point that look this is not crisis and this is typical in a market Market the last bull market which is the ultimate bull market between 2003 and 2007 also saw similar kind of an selling and I remember it was not once but it was twice that the market actually was circuit down I mean just that we don't remember that what kind of nasty volatility we saw there but my question sanep to perhaps everyone is that yes midcap stocks have fallen 30 to 50% that's the normal average but just because prices have come down are these stocks attractive because there was definitely some degree of fro in some of these midcap stocks and it was liquidity coming from hni front and Di front which was taking some of these midcap stocks higher so just because they've corrected 30 40 50% which may look like a great percentage number that does not make them attractive so that's a general query I also face that uh this stock has fallen 40% should I should I sell it now now when people want to buy go and buy property what they say is this property is down 40% let mey Buy right now so I think this inverse correlation between valuations and uh sentiments especially in stocks is always there and that will be there today so some of those stocks might not still be buyers because the fundamentals never Justified that move but many of uh so so that's been my point uh at this uh stage that you don't need to go into small caps you just by established large caps which have got good business models where companies are indicating improved sentiments and improved profitability going forward and buy them and the probability of making money is much higher than so if the probability of making money was 20% 4 months back the probability of making money is 80 to 90% now
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