NEWS BITES ASIAN MARKETS
IDLC Finance Ltd (DSE:IDLC), Bangladesh's 2nd largest financial institutions company by market capitalisation, weakened BDT2.60 (or 2.4%) to close at BDT107.30, ending a two-day streak of rises. Compared with the DSEX Index, which fell 21.2 points (or 0.5%) on the day, this was a relative price change of -1.9%. Trading volume was 1.2 times average.
RELATIVE VALUATION INDICATORS [RVI] FUNDAMENTALS
Bullish Signals:
Valuation
- Tobin's Q Ratio, defined as MCap divided by Total Assets, is 0.4. Compared with the rest of the market the stock is undervalued.
Performance
- Return on Assets of 1.6% versus sector average of 1.5% and market average of 5.8%.
Bearish Signals:
Valuation
- Price/Earnings of 26.5 versus sector average of 10.0 and market average of 3.4. We estimate the shares are trading at a current year P/E of 26.6 and a forward year P/E of 26.7.
- Price/Sales of 2.9 versus sector average of 1.3 and market average of 0.6. We estimate the shares are trading at a current year Price/Sales of 2.1 and a forward year Price/Sales of 1.5.
- The Price to Book of 3.34 is higher than the average of 1.4 for the Financial Institutions sector. We estimate the shares are trading at a current year Price to Book of 2.5 and a forward year Price to Book of 1.9.
Performance
- Return on Equity of 12.6% versus sector average of 14.4% and market average of 27.0%.
Description | Value | Rank In Market |
Earnings Yield % | 3.8 | In Bottom Quartile |
P/E * P/NTA | 88.64 | In Bottom Quartile |
Price Earnings | 26.5 | In Bottom Quartile |
RELATIVE VALUATION INDICATORS [RVI] TECHNICALS
- The price rose 1.2% in the last week and soared 19.9% in the last month.
- In the Bangladeshi market of 224 stocks traded today, the stock has a 6-month relative price strength of 45 (it has underperformed 55% of the market).
Beta: The Beta of this stock is 1.7. A Beta greater than 1 suggests this is a high risk, high return stock with volatility greater than that of the market.
% Discount to high: it is at a discount of 28.4% to the 12-month high of BDT149.80 (traded on 16 Apr, 2012).
- The present value of BDT1,000 (PV1000) invested one year ago is BDT1,418 [vs BDT1,207 for the DSEX Index], for a capital gain of BDT418. The total return to shareholders for 1 year is 41.8%.
PV1000 | 1-week | 1-month | 1-year |
IDLC.DSE | BDT1,012 | BDT1,199 | BDT1,418 |
Description | Value | Rank In Market |
MCap | US$167.3 million | In Top Quartile |
Price/MAP50 | 1.11 | In Top Quartile |
Volatility % | 3.9 | In Bottom Quartile |
Price Change % | -2.4 | In Bottom 7% |
AGGREGATE VOLUMES, PRICES AND TURNOVER PERIOD [Volume Index or VI in brackets; 1 is average]
Dhaka:IDLC.DSE 138,400 [VI of 1.1] volume 92.3% of aggregate. Price: BDT107.30.
Chittagong:IDLC.CSE 11,625 [VI of 1.5] volume 7.7% of aggregate. Price: BDT108.50.
Aggregate volume: there were 150,025 shares worth BDT16.3 million traded. The aggregate volume was 1.1 times average trading of 135,000 shares.
COMPANY ANNOUNCEMENTS
The last 7 company announcements are:
February 12: IDLC Finance: Board Meeting
