Joined: 06/Sep/2006
Location: India
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Posts: 641
Posted: 09/Nov/2010 at 4:22pm
some old news:
On August 13, 2010 HDFC Mutual Fund A/c Hdfc Equity Fund bought 997,596 shares of Raymond at Rs 364.28 on the NSE. On Friday the stock closed at Rs 374.70.
Also, HDFC Mutual Fund bought 512,574 shares at Rs 363.67.
Joined: 06/Sep/2006
Location: India
Online Status: Offline
Posts: 641
Posted: 09/Nov/2010 at 4:24pm
continuation:
Following a stalemate in negotiations between the employees and management, the Gautum Singhania-led Raymond has issued a notice asking its workers not to report to work at its neighbouring Thane plant from October 19.
The textile major plans to foray into the realty business by developing
residential and commercial complexes on its 125 acre plot of mill land
at Thane where nearly 1,885 workers are employed.
The most interesting part is that Prasant Jain of HDFC is slowly increasing stake in raymond. check the latest Oct holding of HDFC Prudence Fund & HDFC MIP-LTP(G).
Joined: 19/Sep/2006
Location: United States
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Posts: 2296
Posted: 09/Nov/2010 at 11:54pm
opic: Raymond Posted: Today at 4:24pm By catchsudipto
continuation:
Following a stalemate in negotiations between the employees and management, the Gautum Singhania-led Raymond has issued a notice asking its workers not to report to work at its neighbouring Thane plant from October 19.
The textile major plans to foray into the realty business by developing
residential and commercial complexes on its 125 acre plot of mill land
at Thane where nearly 1,885 workers are employed.
The most interesting part is that Prasant Jain of HDFC is slowly increasing stake in raymond. check the latest Oct holding of HDFC Prudence Fund & HDFC MIP-LTP(G).
The catch here is that unless workers are paid their dues- which runs to around few hundred crores, the municipal corporation will not provide NOC
Joined: 06/Sep/2006
Location: India
Online Status: Offline
Posts: 641
Posted: 09/Nov/2010 at 9:33am
Though i have already bought it , but the company doesn’t fall in the typical debt free
business or neither it have ROE or ROCE above 30%. Its management is also known
to be spenders.
But its brand value attracts me the most. Its quality
is best in india.
Moreover they might be able to monetize their 126 acre thane land which might
give them a huze profit. off late i am reading in print media that bayer crop science will put its 100 acre thane land on the block. They might ask 1000-1200 cr for that.
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