I still fail to see how this improves the capital allocation though.
As per my understanding, all the other business lines are given sufficient funding, so at the end it boils down to dividend vs hotels business. Their might have been some missteps, but we start to look at every negative point when stock isn’t doing well, and everything becomes better once stock starts to perform.
Also their hotels are premium, which is unlikely to give yields now, but this is a play on premiumisation to a certain extent, and can help with their premium FMCG category. So I am not sure whether it can be considered a wrong business decision, even if it didn’t turn out to be a good one till now.
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