JINS.N0000 Janashakthi Insurance - Cup & Handle BO
Breaking 46 will make a C&H Break Out.
Dividend Pending
* Amount > LKR 5 (JINS can distribute tax free dividend received from CFVF.N0000)
Profit Expectations
* Earnings should be good.
* Majority of BOND portfolio is classified under 'Financial Assets at Fair Value Through Profit
or Loss'. Hence capital gains due to rate cuts will reflect in P&L.
NAV
* LKR 60.64 / PBV 0.75 (All other life insurance companies in CSE are trading above NAV.)
Dividend Pending
* Amount > LKR 5 (JINS can distribute tax free dividend received from CFVF.N0000)
Profit Expectations
* Earnings should be good.
* Majority of BOND portfolio is classified under 'Financial Assets at Fair Value Through Profit
or Loss'. Hence capital gains due to rate cuts will reflect in P&L.
NAV
* LKR 60.64 / PBV 0.75 (All other life insurance companies in CSE are trading above NAV.)
Comment:
Breakout from C&H pattern formation
* 05/04/2024 closed above the LKR 46 mark, effectively breaking C&H pattern.
* 05/04/2024 closed above the LKR 46 mark, effectively breaking C&H pattern.
Trade active:
Our conservative expectation was JINS to declare an LKR 5.00 dividend.
But
Today JINS declared a dividend of LKR 13.24
Close to 3X our dividend expectation.
26.6% DY for today's closing price.
But
Today JINS declared a dividend of LKR 13.24
Close to 3X our dividend expectation.
26.6% DY for today's closing price.
* We expect at least 2 more rate cuts by MB of Sri Lanka. Hence YoY earnings growth expected to continue towards Q2 2024 (Capital gains from Bond Portfolio.