I am not able to post this in Kitex thread as it is undergoing maintenance. Kitex is indirectly involved in Panchayat politics and has supported formation of an independent party by name Twenty20. The panchayat elections are scheduled to be held in Nov 2015. The Kitex MD Sabu Jacob has nurtured this political independant outfit from grass root level by supporting them at various levels to raise their standard of living and from what I understand he has very good support from common man in that Panchayat. I think Sabu is taking a calculated risk here. None of the mainstream parties support him openly. They can’t oppose him openly as the general public have recognized his contribution. If something goes wrong with the plant there, I am sure the political parties won’t support him. Is there any other business doing similar work? As an Investor I am worried about the outcome. I will appreciate if anybody could share their thoughts on this.
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