Q3: PEL made new provision of Rs. 2300 cr. In con-call management answered on this aspect on question asked by MOSL:
Extrcat of reply from management:
Similiar question was again raised by another investor in aggressive way:
Extrcat of reply from management:
But, the same investor again asked the management about provison part but perhaps management could not explain properly the need for this extra provision.
From above one thing is clear that management is not sure about provision issue.
Perhaps market is waiting clarity on provison issue, so valuing PEL less than book value. Next few quarters will be interesting.
Disclosure: Invested. No transaction in last 30 days.
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