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SREI Infrastructure Finance Limited is one of the leading private sector infrastructure financing institutions in India. Company went under intense financial stress after NCD default. The subsequent lockdowns just made liquidity situation worse. The downfall started after cancellation of coal blocks by the Supreme Court, demonetisation and GST disruptions. The lockdown stopped the cash flows from creditors and the default became inevitable. The Promoters are ready to pay and they are in process of fundraising which is in the final stage. The most heartening part in this is Promoter has not reduced holdings and has no pledge. Promoter holds over 60.8% shares and HNIs hold over 5%. Small Retail investors holding less than 20,000 shares are just 15.4% of total equity. There are investors who hold over 2 lacs shares are growing as per the AR. New numbers are yet to come but the volume pattern and price volume breakout suggests that the shares had been accumulated by deep pocketed investors. This month is not yet over and SREI has already registered all time high volume of 22 cr (NSE) which is twice more than second highest volume in month of October 2018 and still we have 8 trading sessions to go. I do not have any target in mind but stock still trades at fraction of its book value of 80. As of now, market cap is 665 cr and in good years company delivered sales of 6000 cr plus. Stock trades at fraction of its prospective sales in 5 years. I have initiated accumulation. Study this counter and use corrections in your favour. Being a risky asset, it is advisable to invest with due diligence and clear understanding of own risk appetite. Good Luck!!

2.59 PM Jun 18th
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