Sabitlenmiş Tweet
All long-form threads compiled here for easy reference 👇
English
Leading Nowhere
5.9K posts
Leading Nowhere
@leading_nowhere
DIY investor, lawyer - writing on corporate governance - and reading between the lines.
India Katılım Mayıs 2009
362 Takip Edilen32.2K Takipçiler
@kirandhanwada Set thinking level to maximum, it was automatically changed to medium for all.
English
Maybe said it too early. This weekend, for some strange reason, quality of outputs have dropped drastically with token usage increasing exponentially.
Don't say it man. Just 'drishti'/'nazar'.
Kiran D@kirandhanwada
Does anyone use ChatGPT anymore? I have just wholesale shifted to Claude over the past 3 months and use ChatGPT for one off simple queries so that I save on Claude tokens. The quality between Claude and ChatGPT outputs as of today is just night and day. Hope ChatGPT improves
English
@PosteAnil @neilmunot @ActusDei More issues: if you're taking 1 year for the price performance, Indigrid is mostly less than 20% in absolute terms. What is the sense of CAGR for a 1 year period and how is it 28%.
English
Well, the yields table does not make that apparent, and if you wish to do it that way then the methodology should be explained accordingly. It may also be a bit misleading to do it that way, IRB has reduced distribution during the year too. Indigrid will probably revise its guidance for next financial year next month, so as a snapshot in time this way of calculating is not particularly useful.
English
All yields are incorrect.
Indigrid - 16.1/165 = ~10%
PG - 12/90 = 13.33%
IRB - 7.5/60 = 12.5%
Cube - 13/146 = ~9%
Also please clarify for your investors benefit- dpu yield vs HTM IRR @ActusDei @leading_nowhere @PosteAnil
Source - exchange filings for TRAILING 4 distributions.
Neil Borate@ActusDei
A nice deep dive by @PosteAnil into InVITs & key metrics to look at while investing in them. The interest component of distributions is not tax efficient unfortunately. Holding them through mutual fund may work better. thefynprint.com/wRpdfZfRP
English
@PosteAnil @neilmunot @ActusDei Your 11.4% Indigrid exactly matches a denominator of 141 - this is probably the issue with all calculations (for yield).
English
@leading_nowhere @neilmunot @ActusDei Thanks for sharing, we had taken the values from exchange, values look the same, re checking with calculation
English
@PosteAnil @neilmunot @ActusDei Here is IRB - irbinvit.co.in/wp-content/upl… - you will need to add Q3.
English
@PosteAnil @neilmunot @ActusDei You can go to every INVIT website and there is a distribution history section.
English
@jhakaasjungli @PosteAnil If one exits, then one will have to. But for purely informational purposes like an article, it would be difficult to give any hard numbers unless you assume date of sale and period of holdings.
English
@leading_nowhere @PosteAnil Do you consider Return of Capital also ? Because once you have RoC, your capital gains go up.
English
The data in the infographic is mostly all wrong. IndiGrid distributes Rs 16 per annum and trades at 165, yield cannot be 11.4%. 1 year CAGR returns are also wrong. Too much AI?
Neil Borate@ActusDei
A nice deep dive by @PosteAnil into InVITs & key metrics to look at while investing in them. The interest component of distributions is not tax efficient unfortunately. Holding them through mutual fund may work better. thefynprint.com/wRpdfZfRP
English
@PosteAnil Well, just check here - indigrid.co.in/investor/unit-…
Total trailing distribution in the last 4 quarters including Q4 FY24-25 is INR 16.10 and CMP is 165. The only way you can come to 11.xx% yield is if you're calculating on a base of ~140-145.
English
@leading_nowhere Hi @leading_nowhere
The yield figures in the infographic are based on trailing 12-month distributions (annualised) from disclosed payouts, not just the latest run-rate.
The CAGR includes total return, not just price movement. we also spoke IndiGrid.
English
@soodstuti Still missing the point IMO, but you do you.
English
@leading_nowhere The world is waking up to the chaos that has been created. Let it settle. Legislations arent forever
x.com/i/status/20375…
CNBC-TV18@CNBCTV18News
The International Olympic Committee said on March 26 only biological female athletes, whose gender has been determined by a one-time gene-screening test, will be eligible to take part in female category events at the Olympic Games. In essence, the IOC has banned transgender athletes from female events starting from the 2028 Olympics in LA #Watch: youtu.be/orisgEhzClk #IOC #Olympics #LA2028 #Trump #TransgenderAthletes #GeneScreening #KirstyCoventry #WomensSports #CNBCTV18Digital #Trump
English
The Hindu@the_hindu
JUST IN | #LokSabha passes by voice vote Transgender Persons (Protection of Rights) Amendment Bill, 2026, which proposes to remove transgender people’s right to a self-perceived gender identity and limit the definition of transgender person to people with biological or physiological markers or people belonging to socio-cultural identities. - @al_lakshman reports
QHT
@RetardRetailer @soodstuti Couldn't believe you walked into that one :p
English
@RetardRetailer @soodstuti Sir given your nickname, aren't you thankful that practice isn't being followed anymore?
English
@leading_nowhere @soodstuti Sir, the old greeks used to throw babies with defects from mountains ⛰️. You think they were fools?
GIF
English
Not sure how this prevents glorification. The ones who 'glorify' it are going to do it anyway, but adding hoops and introducing state-controlled identification via legislation mostly just affects the real people who should be assisted and protected. Every time we cheer more rules, regulations and acts that assuage our ideologies without scientific and data-driven process, the more power we hand to the state, and gradually the state believes its job extends to controlling everything. Rule by babudom. Not a good direction to cheer even if you feel there is some problem, vibes should not determine legislations.
English
@leading_nowhere The problem I have here that it has now become about glorifying the concept rather than peaceful co existence. Not ok with that. Social media isn't a bad thing. Most world news now comes from the internet.
English
This can easily dealt with by delegated legislation and rule-making. You are speaking in extremes when the 'problem' itself has not been shown to be extreme. Perhaps you are relying too much on social media and echo chambers to form an oversimplified and generalised opinion on the existence and extent of the 'problem'.
English
@leading_nowhere I agree but there is no other way to do this. Give in all the way or don't. I was so open to all this before it went to such extremes that it wasn't ok anymore. Unfortunately humans will find a way to exploit something to the extreme
English
@leading_nowhere This was needed though..otherwise we become a circus like the west
English
English
Many people are building cool stuff using AI for public policy use cases: visualisations, AI reports, analytical tools, etc. But there is no one directory which lists all these projects. So let's built one at aipublicpolicy.org
cc: @acorn @pranesh
English
Please read s. 149(6) of the Companies Act 2013.
Madanlal Dahariya@MDahariya
Sandeep Parekh our Independent Director @HDFC_Bank custodian of minority shareholders n who has to keep eye on governance . Here his firm Finsec Law Advisor enters into related party transactions ( RPT ) with @HDFC_Bank for 1 crs for FY 2025-26. Isn’t this strange 🤷
English
@StocksAndStoics Getting players to consistently honour warranty is a pain, in my experience it is only in name. It is just an unpredictable business with too many things not in your control and the dedication to service is rare and hard to sustain. Of course, it can have good periods briefly.
English
@leading_nowhere India's refurbished desktop/laptop market has largely been unorganized.
Organised players like GNG (India's largest refurbisher) offer up to 3-years of warranty on the refurbished devices. Formalisation could lead to demand expansion.
English
Laptop and desktop prices are already up ~10–12% as component costs rise, with RAM prices surging 2.5–3x.
Another 8–10% increase is expected in March, with a further ~10% rise likely in the coming months as component costs continue to climb.
During a recent interview management of GNG Electronics mentioned that the company sees a structural shift toward refurbished devices as brand-new PCs become increasingly unaffordable.
This creates a multi million unit market gap that the refurbished segment is poised to capture.
GNG offers refurbished units at 1/3 the price of new ones with "equal to new" performance and warranties. The company is maintaining elevated inventory in Dallas and Europe to hedge against these rising input cost.
Interview Link: youtu.be/VQzo44GlY9A
YouTube
Ankit@StocksAndStoics
GNG Electronics, which derives ~80% of its revenue from refurbished laptops, is benefiting from rising prices of laptop components and new laptops driven by AI-related component shortages. Demand for refurbished laptops is growing. The company reported strong numbers in both Q2FY26 & Q3FY26. During the Q3FY26 concall today, management revised revenue growth guidance upward from 20-25% earlier to 28%–30% for FY26. EBITDA margin guidance was also increased to 11% from 10% earlier. Operating cash flow remains a key monitorable going forward.
English
@StocksAndStoics Source: been refurbishing used ThinkPads / enterprise laptops for myself for 2 decades; understand the space.
English
This is a dicey place to be as far as being the refurbisher is concerned. Since they rely on recycling mostly enterprise laptops, their supply can be choked if supply sources decide to sweat assets longer. Similarly, components becoming cheaper only helps for your existing inventory of it. And lastly, this is always a fickle market on the demand end, at the best of times.
English