Someone connected with a Company transferred recently to the DB called my office and asked Why do you want to buy this share at such a high price?. The book value of the Company is even higher than this bid price and the PE at the price we are willing to buy is in single digit.The business prospects also seems to be good. He tried his level best to dissuade us from putting a higher buy bid in the DB by citing various negatives about the Company. Finally he gave up and said in a regretful tone that the bid may become a benchmark and spoil the market! Having failed in our duty to protect the minority shareholders in the DB issue, we will not rest until these promoters pay a proper price and a proper exit route to small investors, instead of hiding behind the legal loopholes provided to them on a platter.
Posted on: Sun, 14 Dec 2014 18:22:33 +0000
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