REMGRO LTDLong
REM - REMGRO - (3 : 1)
Updated
Since the 7th of September Remgro has been making a series of higher lows off the support line in blue with price meeting the upward resistance lines in pink around the R101.30 - R104.60 area.
On a fundamental basis, the last set of financial results published for the period ending 30th of June 2020 showed an intrinsic NAV of R154.47 per share which would imply that the current share price discount to NAV is in the region of 34.5% based on the NAV at 30 June 2020.
When reviewing the performance of Remgro's listed holdings since the 30th of June 2020:
- RMI (30.6% interest) up by 10.78% since 30 June 2020
- Firstrand (4% interest) up by 29.8% since 30 June 2020
- Mediclinic (44.6% interest) up by 5.52% since 30 June 2020
- RCL Foods (77.1% interest) down by 6.81% since 30 June 2020 (The only listed holding to decrease in value since June with the company taking the opportunity to acquire more shares and increase the % stake in RCL Foods)
- Distell (31.8% interest) up by 22.79% since 30 June 2020
- Grindrod (23.3% interest) up by 57% since 30 June 2020
- Grindrod Shipping (22.8% interest) up by 58.19% since 30 June 2020
Historically the share price discount to NAV has been as follows:
30 June 2020 - 35.3%
30 June 2019 - 19.4%
30 June 2018 - 20.5%
30 June 2017 - 15.1%
30 June 2016 - 16.9%
30 June 2015 - 11.4%
On a fundamental basis, the last set of financial results published for the period ending 30th of June 2020 showed an intrinsic NAV of R154.47 per share which would imply that the current share price discount to NAV is in the region of 34.5% based on the NAV at 30 June 2020.
When reviewing the performance of Remgro's listed holdings since the 30th of June 2020:
- RMI (30.6% interest) up by 10.78% since 30 June 2020
- Firstrand (4% interest) up by 29.8% since 30 June 2020
- Mediclinic (44.6% interest) up by 5.52% since 30 June 2020
- RCL Foods (77.1% interest) down by 6.81% since 30 June 2020 (The only listed holding to decrease in value since June with the company taking the opportunity to acquire more shares and increase the % stake in RCL Foods)
- Distell (31.8% interest) up by 22.79% since 30 June 2020
- Grindrod (23.3% interest) up by 57% since 30 June 2020
- Grindrod Shipping (22.8% interest) up by 58.19% since 30 June 2020
Historically the share price discount to NAV has been as follows:
30 June 2020 - 35.3%
30 June 2019 - 19.4%
30 June 2018 - 20.5%
30 June 2017 - 15.1%
30 June 2016 - 16.9%
30 June 2015 - 11.4%
Trade active
Remgro moved nicely above the areas of resistance and price has held above the 200 MA.Trade active
Moving along, albeit very slowly!
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