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 !
When I started my career, bank deposits used to give 16-18 percent.
Then it fell to 13-15 percent, thereafter it fell to 9-10 percent.
Today they are available at 7-8 percent.
I have no doubt that 3-5 years down the line, bank fixed deposit rates could be 4-5 percent.
But will you be happy with 4-5 percent returns?
-said Nilesh Shah,MD Kotak Mahindra AMC
Some stuff I am reading today morning:
Four Themes to bet on (BNP Paribas)
SEBI fines Piramal Enterprises for insider trading (ET)
Cognizant investors get screwed (Mint)
India’s Central Bank grows up (Bloomberg)
NSE is almost a monopoly (BL)
Top 10 Monthly Income Plans (My Investment Ideas)
We need a new IPO Process (Continuations)
Venture Capital:Its a pricing,not value game (Aswath Damodaran)
The difference between a bubble and a cycle (Collaborative Fund)
The art is not making money,it is keeping it (Tony Isola)
Source:Goldman Sachs Report
