Buying the pessimism: Trying to catch the bottom

Lux Industries?

Has been fraught with challenges in the last couple of years which is reflected in the price and valuation (P/B)…
1/ Insider trading case in early 2022 against promoter’s son (Udit Todi)
2/ Surge in raw material price (cotton)
3/ IT raid in late 2023
4/ The two brothers at the helm (Ashok and Pradeep Todi) not getting along

Now,

• Udit Todi has been given a clean chit in the insider trading case
• Cotton price has cooled off
• Per the grapevine, brothers Ashok and Pradeep have divided the empire (split by brands)
• IT raid is the only big known unknown

Looks like the stock price has bottomed out and any positive news will help. Will welcome opposing views

Disc.: invested recently