Ex-Buyside Principal, now doing Independent Secondary Research on Indian Equities

Pawan Sachdeva

Thematic (Sector/Industry)

In preparing this insight, I have tried to compare ACC (as an Indian Cement Sector Proxy) to Holcim and Anhui Conch. &nbsp;<div><ul><li>I discuss Long Term trends of cement pricing in India, environmental issues and relative cost structures.&nbsp; </li><li>I believe that this work might aid fund managers / analysts in deriving a better view on the cement sector.&nbsp; </li><li>Cement Company Managements can also use this as an analysis framework to benchmark their own performance.&nbsp; </li><li>Lastly, I also try to raise thoughts on whether 2015-2020 is like 2003-2008 for the Indian stock market.&nbsp;</li></ul><blockquote>My work examines publicly available data spanning 15 years, going back to 1999.&nbsp;</blockquote></div>

In preparing this insight, I have tried to compare ACC (as an Indian Cement Sector Proxy) to Holcim and Anhui Conch. &nbsp;I discuss Long Term trends of cement pricing in India, environmental issues and relative cost structures.&nbsp; I believe that this work might aid fund managers / analysts in deriving a better view on the cement sector.&nbsp; Cement Company Managements can also use this as an analysis framework to benchmark their own performance.&nbsp; Lastly, I also try to raise thoughts on whether 2015-2020 is like 2003-2008 for the Indian stock market.&nbsp;My work examines publicly available data spanning 15 years, going back to 1999.&nbsp;

ACC, Holcim & Anhui Conch: A Cross-Country Benchmarking Study of Cement Sector Leaders

HK/China Healthcare Analyst (ex-Fosun Pharma)

Xinyao (Criss) Wang

Event-Driven

<ul>
<li>Many minority shareholders have lodged complaints against ACC with the SFC, since unfair privatization price damages the ecology of the entire market.It depends on whether the SFC will take action.</li>
<li>The failure of privatization does not necessarily mean better returns for investors. On the contrary, it may result in greater losses. ACC can have other ways “hollow out” the Company.</li>
<li>Arbitrageurs can choose to bet on a second privatization (with higher Offer Price) and also on the potential dividends, but the prerequisite is that the management choose to "act honorably".</li>
</ul>


Many minority shareholders have lodged complaints against ACC with the SFC, since unfair privatization price damages the ecology of the entire market.It depends on whether the SFC will take action.
The failure of privatization does not necessarily mean better returns for investors. On the contrary, it may result in greater losses. ACC can have other ways “hollow out” the Company.
Arbitrageurs can choose to bet on a second privatization (with higher Offer Price) and also on the potential dividends, but the prerequisite is that the management choose to "act honorably".


Asia Cement China (743.HK) - Investors Are Facing the Dilemma of Low-Priced Privatization

Hong Kong

Nine Dragons Paper Holdings Limited produces a wide range of containerboard products. The Company primarily produces linerboard, including kraft linerboard, test linerboard, white top linerboard, high performance corrugating medium and coated duplex board.

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Nine Dragons Paper (2689 HK)

ACC, Holcim & Anhui Conch: A Cross-Country Benchmarking Study of Cement Sector Leaders

In preparing this insight, I have tried to compare ACC (as an Indian Cement Sector Proxy) to Holcim and Anhui Conch. I discuss Long Term trends...

Pawan Sachdeva

Asia Cement China (743.HK) - Investors Are Facing the Dilemma of Low-Priced Privatization

There're rumors an investor with about 20m shares plans to vote against the privatization and then bet on a second one because he is dissatisfied...

Xinyao (Criss) Wang

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