JOINDRE CAPITAL SERVICES LTD - QUICK BUCKS!

About:-

Joindre group first venture, Joindre Capital Services, a pioneer in the field of retail broking was incorporated in 1995 by a group of professionals with vast & rich experience in Indian capital market.

The company has spread its business all over India. With major thrust on retail broking, the company has strong IPO and mutual funds division for the benefit of the clients. Research brings latest reports giving specific developments in the stock market. Being client-focused the company offers Internet trading platform. portfolio management services offers best schemes based on client's need of wealth creation.

Joindre Capital is member of National Stock Exchange of India Ltd., Bombay Stock Exchange Ltd. and many regional exchanges in India. 

Joindre Capital is also depository participant member of Central Depository Services Ltd.

Services offered by the company:-

• Retail Investments
• Institutional Investments
• Derivatives
• Mutual Funds
• IPOs
• Internet Trading
• Depository Services
• Portfolio Management Services
• Research
• Commodity Markets with MCX and NCDEX
• Gold & Commodity with DGCX

Other Group Companies:-

• Joindre Commodities Limited.
• Joindre DMCC.

Financials and overall co:-

PROS:

Good quarter numbers posted this FY! Expecting good numbers in coming quarters. company is virtually debt free. Small Equity base. Promoters hold 63.7% of total equity. Trading less than its BV of Rs. 37. Trading at 9 P/e against 28 industry P/e. Regular Dividend paying company. 33crores Reserves against 13crores Equity. 

CONS:- 

Though Contingent liabilities is decreasing every FY, still it stands at 19crores which is too huge for a company with 13crore equity base, 50crore mcap! Other income helped the company to post profit. Had other income been 0 the EPS would have been -2. Company earns 0 from its operations! Company's sales are constant over past 5 years. No improvement in the financials of the company in operations front. 

Technicals:- 

Charts showing strong resistance at 37-39 zoneson closing basis. May correct from these levels. Above 37-39 on closing basis for 2 consecutive weeks we may see aa straight rally towards 50 zones. Strong support at 26-29 zones. 

My take:- 

Joindre, recommending at 32 can give decent returns over next 2-3 quarters. Provided markets remain sound, initial target can be set as 50-55. 2nd target can be set as 75-80 in next 9-12 months. 

UPDATE 27th July,2018  (CMP 25) :-

Fundamentals still intact! The sector is not in action now...

Disc: - All the info is based on the writer's own research/gathered from public domains. The writer of this Blog is neither any advisor nor related to any brokerage houses!! The writer might be himself invested in the stock after his own research so the views might be biased. One must do their own research before investing. The writer isn’t advertising any website for his own selfish use. The writer of this blog won't be held responsible for any of your profit/loss in your investment/trading career!