Capitalmind
Capitalmind
Actionable insights on equities, fixed-income, macros and personal finance Start 14-Days Free Trial
Actionable investing insights Get Free Trial
Stocks

Kesoram Sells Tyre Subsidiary to JK Tyre 1month and 5 Days After Vehemently Denying It Would Sell Tyre Subsidiary To JK Tyre

Share:

Kesoram Industries’ press release, August 7:

image

“Nonetheless Reiterate”, “No Intentions” – means: Oh come on, there is no way we are selling.

And then, on September 12:

image

The Chart says People liked it in the morning today, but didn’t like it:

image

But They’re Not Releasing Results Info Since December 2014:

Let’s see:

  • They’re into tyres (Birla Tyres), Cement and Rayon
  • Have made losses in the last four years (but this sale will give them enough to wipe out those losses)
  • Have apparently 4000 cr. of debt, and this could be used to cut that down
  • Have not released quarterly results since December 2014 (isn’t this hugely illegal?)
  • Have deferred their Annual General Meeting too, recently.

And from the sudden change in the “vehement denial”, I wouldn’t trust the management either.

Share:

Like our content? Join Capitalmind Premium.

  • Equity, fixed income, macro and personal finance research
  • Model equity and fixed-income portfolios
  • Exclusive apps, tutorials, and member community
Subscribe Now Or start with a free-trial