Hat Tip: R Joseph
On 14th Nov, 2018 at 13:02 pm, Hubtown Ltd announced to the Exchanges that it had acquired 51% of a company called eCommerce Magnum Solution Ltd for a consideration of 48.19 Crores
Interestingly, this Company has Zero Revenues.
A mere two hours later, on 14 Nov, 2018 at 15:13 pm, Hubtown Ltd announced to the Exchanges that it had sold all the shares so acquired for 25 Crores , thus incurring a loss of around 23 Crores in ten days.
Some stuff I am reading today morning:
FIIs abandon India (Mint)
eCommerce food companies under scrutiny (ET)
Fund raising in Capital Markets have tanked (BL)
Lemon Tree, Warburg Pincus to develop co-living platform (BQ)
Vistara: Mission International (Fortune)
What they don’t teach you anywhere (Samir Arora)
Not a great year for MF industry (FC)
Trends that hit banking sector in 2018 (MC)
Zero Fee Index Funds (Quartz)
Stealth Wealth (White Coat Investor)
Source: Investor Presentation of MacPower CNC Machines Ltd
