Some stuff I am reading today morning:
Reliance Jio set to disrupt broadband market (ET)
Hard landing for Jet Airways investors (Mint)
Ikea’s India Play (OB)
Interview with PM Modi (TOI)
Most Mutual Fund schemes under perform (FE)
PVR to acquire SPI cinemans (BS)
Why financial scandals keep recurring in India (BL)
Mutual Funds are low cost in India? (Subramoney)
Soft Knowledge (Barry)
Income Vs Wealth (Get Rich Slowly)
Here are the most clicked items on Alpha Ideas this week:
TBZ: Superb Family Values (AI)
Motilal Oswal: 30 years Ka Experience (AI)
A Lament for Mr.Limaye (AI)
The poor pay the most (AI)
Raamdeo Agrawal’s famous investment in Hero Honda (AI)
When a Builder can borrow cheaper than a Bank (AI)
Increasing SIP & Perpetual SIP (Subramoney)
Two interesting things about the Indian Stock Market (AI)
8 Best Predictors of the Stock Market (Crossing Wall Street)
The 3 Levels of Wealth (Common Sense)
Some off beat reads for the weekend:
Economic lessons from the Raj (Zareer Masani)
Indra Nooyi and the vanishing female CEO (New Yorker)
War without end (NYTimes)
Why Uighur Muslims are living in fear (Guardian)
Saudi Arabia Vs Canada (ATimes)
Sinking Kolkata (Rafia Zakaria)
The bitter truth about Honey (Bibek Debroy)
Rahul Gandhi may lose Amethi (Gossip Guru)
How a Mumbai teen tracked down a phone thief (BI)
Why Indians never change career paths (Arre)
Things I thought I knew (Nick Clooney)
The Baburnama (Madras Courier)
Kama Rajya (Devdutt Pattanaik)
Naveen Patnaik : Novice to Novelty (Outlook)
Obituary: M Karunanidhi (Mint)
Hat Tip: A Mitra
Source: TBZ Annual Report 2017-18
The Chairman & MD Shrikant Zaveri makes this promise in his letter to shareholders
,
He then backs up his promise by delivering value to himself and his two daughters (Binaisha and Raashi) via handsome salary packages.
Shrikant Zaveri’s salary :
Binaisha Zaveri’s Salary:
Raashi Zaveri’s Salary:
Now, no one would grudge these salaries if the Company was performing well.
But take a look at the Consolidated Profits of the Company:
Promoter’s salaries is around 2/3rds of the Net Profits of the Company !!
So when the Promoter says his business model is delivering value to shareholders, he means it is delivering value to shareholders who also happen to be family members !
Source: SEBI Annual Report 2017-18
First, BSE is fast becoming irrelevant in the Cash segment…most of the incremental volumes is being captured by NSE
Second, Mumbai Meri Jaan retains and continues its dominance in the Equity Markets…other cities are puny in comparison.
