Source: WhatsApp Forward
Categories
Negative Working Capital Companies
Source: WhatsApp Forward
Category: Excerpts
How many of train travellers in Mumbai get their shoes shined at the railway station before going to office?
The shoeshine boy squats on barely two square feet of real estate.
He doesn’t “own” it, but rents it.
Often, the rent is between Rs 100 to Rs 200 a day.
Assuming 300 working days, it could be at a minimum Rs 30,000 for two square feet per year.
The rental yield is usually low (around 5 per cent), but even assuming 10 per cent, that translates into capital value of Rs 3 lakh, or Rs 1.5 lakh per square foot.
This price exceeds even the most expensive neighbourhoods of Mumbai, including Pedder Road or Nepean Sea Road.
The strange fact is that the shoeshine boy occupies very expensive real estate even though he is close to the (income) poverty line.
–wrote Ajit Ranade
While India’s ambitious Roads program has Road EPC Companies as direct beneficiaries, there are many other sectors and companies that will also benefit.
Source: Annual Report 2017 of Sheela Foam Ltd
Categories
Madness in Manappuram Finance
Source: Exchange Filings of Manappuram Finance Ltd
Manappuram Finance Limited has informed the Exchange that The Management of Manappuram Finance Limited reiterates there is no truth in recent stories of a speculative nature appearing in the media to the effect that the company’s promoter, Mr. V.P. Nandakumar, is looking to sell his stake in the company or is on the verge of doing so.
This statement is being released in the specific context of a news report telecast by the television channel ET NOW on 21 December 2017 mentioning HDFC Bank, Edelweiss and IDFC Bank as being in the fray to acquire the company.
No prices for guessing what happened to the stock price yesterday when ET Now “broke” this “news”
Categories
Charlie Munger on India
Source: Vijay Pahwa
