Hirco Share Discussion Threads

[nilip] 29/2/2012 15:06

LONDON (SHARECAST) - Hirco, a company involved in developing two huge township projects in India, has seen the current market value of the assets plunge by more than half.

For the full year which ended on 30 September 2011 the company reported an after-tax loss of £273.3m, representing a loss per share of £3.30.

[nilip] 29/2/2012 13:59

That's a drastic reality check. NAV slashed to less than half what it was (supposedly?)

Lets just hope the next appraisal doesn't slash it by half again !

[praipus] 29/2/2012 11:29

Results:)



NAV £2.50 now:(

[scburbs] 28/2/2012 13:47

This certainly doesn't ring true based on HRCO's performance! India is a big place though!

"India and Brazil: world's strongest housing markets
India and Brazil seem unstoppable, and remain the best performing housing markets in the world.

In 2011, house prices in Delhi soared 25.26%, with a rise of 6.62% during the latest quarter. Yet demand is still expected to pick up, because the Reserve Bank of India (RBI), in its Q3 review of Macroeconomic and Monetary Developments, signaled a pause in monetary policy tightening, in order to fuel economic growth.

The world's second strongest house price rise occurred in Sao Paulo, Brazil, where house prices surged by 19.79% in 2011."

[nilip] 27/2/2012 00:35

Praipus,

£5 a share would be nice though :-)

[scburbs] 26/2/2012 14:32

Praipus,

Hirco has been in need of a rebirth, but I don't think ADVFN reposting (in error) the very first post listing RNS is going to be achieve that!

I would much rather they get on and release the results due in the next couple of days. I suspect sales are probably relatively slow given Indian interest rates and delays with Navi Mumbai airport (hopefully both of these factors are about to turn in HRCO's favour).

Here's a link back to that first RNS on 8 December 2006, being the same one reposted by ADVFN.

[praipus] 25/2/2012 14:53

Can anyone explain this RNS? Is it an error?

I cant read past £5 per share without passing out....

[solar_br] 23/2/2012 13:06

Profile : V Suresh, Principal Executive Officer, HIRCO

[kenny] 16/2/2012 17:45

Just noticed that there is one analyst with a 118p target:


That target of 118p would probably be acceptable to long term holders (stale bulls) but it is a lot less than full NAV per share.

[mangal] 16/2/2012 16:11

Lots of buys today- even some the sales may actually be buys. Lets hope the spike today indicates something is afoot.

[nilip] 16/2/2012 16:02

mangal,

Something's clearly going on here.

Looks like positive news on the way ...

It's been a long wait.

Hugely, and I mean 'hugely' undervalued by anyone's standards.



There's every possibility that this could multibag (at least double !) from the current share price given some good news ...

[mangal] 16/2/2012 14:17

I c no news today; any reason for the rise today?

[scburbs] 16/2/2012 08:31

"NEW DELHI - India's headline inflation slipped to a more than two-year low last month, official data showed on Tuesday, giving the central bank scope to cut interest rates to counter weakening economic growth.

The Wholesale Price Index (WPI) fell to 6.55 percent in January from a year earlier, the lowest in 26 months, thanks mainly to falling prices of food and vegetables."

[scburbs] 02/2/2012 19:50

Finally some progress on the land issue for Navi Mumbai airport.

"The Bombay high court, on Thursday, paved the way for development of the Navi Mumbai airport, by allowing the City and Industrial Develop-ment Corporation (CIDCO) to hand over 157 acres of disputed land, earmarked for the proposed airport, to Airports Authority of India (AAI).

CIDCO had not handed over the land to AAI so far, because of a directive from the high court to maintain status quo as on April 8, 2010. The directive had been issued after the heirs of the erstwhile rulers of Kalyan, Gangadhar Narayan Bivalkar and his younger brother Yashwant, filed a petition claiming title over the property.

The court has now allowed CIDCO to hand over the plot to AAI after recording a statement by its counsel, VA Thorat, that the land would not be utilised for any purpose other than development of the proposed airport complex."

[kenny] 01/2/2012 16:26

Bearing in mind HRCO is in a close period, presumably today's 1.2m shares at 50p was not a purchase by Weiss?

[hugepants] 16/1/2012 19:47

Valuation update announced today. Higher than the previous one.

[nilip] 29/12/2011 14:56

interesting times ...

[nilip] 29/12/2011 14:10

The OG,

LOL! - Good post.

[nilip] 29/12/2011 14:08

HP,

The rupee is hitting 40 year lows from what I last heard !

[hugepants] 26/12/2011 18:56

The rupee has depreciated against sterling by about 10% since the interims. That's not helping much either!

[scburbs] 23/12/2011 19:57

Hold ups on Navi Mumbai can't be helping. If they can get the land acquisition sorted and construction started then HRCO could be back on track. On the other hand the land acquisition bill is going to really help those developments in progress (without historic land acquisition issues) as new supply is really going to be hit.

[kenny] 22/12/2011 16:59

Dire, I agree. However, I am hanging in there in the hope that HRCO will turn out OK in the long term. How long that is who knows, but I am hoping there will be some good news with the results or before.

Currently the only glimmer of hope is that someone is absorbing all the sells.

[hugepants] 22/12/2011 13:55

Looking utterly awful here this afternoon. Below 50p again.