Kesoram Industries’ press release, August 7:
“Nonetheless Reiterate”, “No Intentions” – means: Oh come on, there is no way we are selling.
And then, on September 12:
The Chart says People liked it in the morning today, but didn’t like it:
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.