Something is brewing in Mirza International(MI). In the normal course, one would have expected a few lower circuits for the left over Co. after the de-merger, as Red Tape was the reason investors were buying the Co. in the first place, but there is an obvious demand for the stock sans Red Tape.
As I see it, MI is back to being the same Co. that it was 7-8 years ago. It did have the Red Tape brand then, but it did not get reflected in the valuations, which gained recognition only after Shuja Mirza made Red Tape a marketing/ fashion brand, with bulk of the sales coming from traded goods & not footware manufactured by MI.
As often happens, with the de-merger playing out, MI is now free to focus on its own growth plans. As a major part of the Mirza family are still invested & running MI, they must have their own definite plans going forward. It would certainly help if the mgt. would share the same with its share holders. Being fully backward integrated up to the tannery stage, a strategic foreign investor with a brand could be the best thing that could happen, but at this stage it could merely be wishful thinking!
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