Inox India’s 93 percent climb rides on its space-sector dreams

Market pulse

From the investor's mind

Deepak Shenoy observes that housing loan growth is currently at a "mediocre" 11%. He highlights that the apparent spikes in growth during two specific years should be disregarded due to the merger of HDFC and HDFC Bank, which skewed the figures. Shenoy's point is that excluding this one-time event reveals a more subdued underlying growth trend in the housing loan segment.

Word in the street

INOX India Limited

Discussions around INOX India, which has seen its stock climb 93 percent over the past year to a market capitalization of roughly 19,820 crore, have focused on the scale of its opportunity in the space sector. Investors have been contrasting different estimates for the cryogenic equipment market. While INOX management has pointed to its products accounting for 15 to 20 percent of the capital expenditure for ISRO’s third launch pad, market watchers noted a potentially larger share elsewhere. They pointed to NASA contract data showing that just a liquid hydrogen system upgrade at a launch complex represented 30 to 40 percent of a comparable pad's cost.

Yesterday's big moves

“Heads, I win; tails, I don't lose much.”

Mohnish Pabrai