Agree with you on the subsidised loan but there were news(rumors?) about TUFS subsidy being stopped.
I’m not sure if it’s true or not but it made me realize that the company’s survival seemed to depend a lot on subsidies from govt. / TUFS. So I booked out.
Consider a scenario where a Rs. 650+ cr Mcap company has debt of Rs.600 cr. Not the best business around, I say.
I once invested when risk reward ratio seemed quite favorable to me. Can’t feel that comfort now. Of course it’s completely a personal view. Circumstances may actually get better for NDL going forward and my views may prove to be for naught.
Please understand that this post is not meant to demoralize anyone. Rather an attempt to make everyone see the risks through my glasses.
Regards
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