Category: Observations

In the year 1978, Janta Party government led by another politician from Gujarat Prime Minister Morarji Desai, had decided to demonitise Rs 1,000, Rs 5,000 and Rs 10,000 notes in a bid to combat corruption and black money.

During that time too, people were as surprised by the decison as they are now with PM Narendra Modi’s move. Prime Minister Narendra Modi on Tuesday announced the scrapping of high denomination currency, with an aim to curb black money.

Usually, high value notes are the basis of any form of corruption and illicit deals related to unaccounted money. According to a TOI report, the difference between that time and now is that in 1978, a Rs 1000 note could buy 5 sq ft of real estate space in south Bombay, but at this moment a Rs 500 note cannot even buy even a hundredth of a square foot in that area.-from FE

This Cartoon by R K Laxman in 1978 explains it all…

Came across this strange anomaly in the shareholder filings of Talwalkars Better Value Fitness Ltd.

As per NSE filings,

On 30 Sept,2016-Laxmi Shivanand Mankekar owns 12,58,800 shares

On 30 June,2016-Laxmi Shivanand Mankekar & Kedar Mankekar jointly own 15,73,520 shares

So it appears that the Mankekar Family reduced its holdings

As per BSE filings,

On 30 Sept,2016-Laxmi Shivanand Mankekar & Kedar Mankekar jointly own 15,73,520 shares

On 30 June,2016-Laxmi Shivanand Mankekar & Kedar Mankekar jointly own 15,73,520 shares

So it appears that the Mankekar Family did not reduce its holdings

Never expected to find Schrodinger’s Cat in stodgy Stock Holding Filings !

Source: Darshan Mehta

People are attributing the stock price rise of Raymond Ltd to this Linkedin profile

Hat Tip: Safir

It is very rare to see a Promoter vote against his own Company’s Board resolutions.

This astonishing sighting happened in the case of Jyoti Resins & Adhesives Ltd.

On 29 Aug,2016, the Board recommended a stock split of the shares from a FV of Rs.10 per share to FV of Rs.1 per share

However in the AGM held on 30 Sept,2016, the Promoters voted against the resolution thereby blocking it.

Hmm…maybe such resolutions should have waited till the Shraadh period got over !