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Stock

Balaji Telefilms:Promoters selling Company land to themselves

Balaji Telefilms,lead by the redoubtable Ekta Kapoor, is one of the leading production houses in the country.

The share price has been going nowhere due to adverse market conditions and corporate governance issues.

Check this out from the notes of their latest financial result:

The Company, in the previous year, had invested in three adjacent plots of land admeasuring approximately 38,870 sq. mtrs. in aggregate, situated within the limits of Mira Bhayander Municipal Corporation. During the current quarter, the Company has sold the plots of land for a consolidated consideration aggregating to Rs.5,100.00 lacs on an ‘as-is where-is’ basis vide two separate
transactions and has accounted for the profit on sale aggregating to Rs. 122.89 lacs (net of related
expenses). Part of the land has been sold to M/s JK Developers a sole proprietary firm owned by one
of the Directors of the Company.

 

JK Developers probably stands for Jitendra Kapoor Developers (Jitendra is the father of Ekta Kapoor)

Hmmm…

 

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Chart

100 Million Americans dont have jobs

An astounding fact from Outlierville

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Quotes

What was that again?

“Many novice pedestrian traders focus on the next position. Consistently success traders focus on the process and care little about the outcome of the next trade. The distinction is enormous.”

blogged Peter Brandt

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Links

Linkfest:May 25, 2012

Some stuff I am reading today morning:

Price hikes fuel discounts on petrol cars (FinancialExpress)

Indian Buffett goes shopping (BS)

Why Congress has decided to go for Jagan’s jugular (ToI)

Email, wiretaps link Gupta to Rajaratnam (Reuters)

Narasimha Rao:The man who reinvented India (The National)

Bracing for a Greek exit (DailyReckoning)

Happy people make terrible traders (PsyFi)