I invested in this company at 1735 levels and m still holding it, the thing according to me everyone is missing is initiatives taken by company to improve transparecy, even before covid they were taking a few initiatives but those got derailed by that insider trading accusation (i personally ignore them to a extent if valuations are reasonable, because i have seen them happening in a lot of companies), m not being specific here as those have already been discussed above in the thread. I am not supporting it in any way and it definitely is an issue to be kept in mind.
And as far as that old accusation of murder of a person is concerned, all i have to say is that the situation the promoters found themselves in was very complex and they found themselves stuck between law and the societal pressure. The law clearly wouldn’t have yielded them the result they wanted to achieve, which was getting their daughter back to home (in fact, they tried to go legal way if news reports are to be believed) who had been legally married to the person whose death took place. I can not comment upon whether the promoters are guilty or not, because the matter is yet to be finalized by the courts as per my knowledge. The societal pressure was immense as the boy was from another religion. It is a shame that such an incident happened and may god give courage to victim’s family. It happened before the company got listed, if my understanding is correct. I will leave it at that.
The family feud thing, i can’t comment upon, as a lot of companies like muthoot and garware etc have managed such things successfully and a lot have failed the companies themselves. I hope they will find a solution. Till now nothing has come outside in media nor is any legal battle going on as per my knowledge, people (grapevine, not a fact) are saying that all 3 brothers are managing different divisions, isn’t that the way feud can be killed amicably rather than fighting in courts? I am betting my money on my assumption that it is going to be settled amicably, you choose for yourself.
Further, the news article quoted above (2 posts above) other than capex news also mentions that company don’t want any complications and is merging two unlisted family owned businesses into listed entity. Everyone had stopped expecting anything good from management and i feel like there was no pressure on management to clean up things but still it seems they are trying to improve things a bit. I am looking at it as continuation of their efforts from prior covid period to appear investor friendly.
If buffet compares companies with a movie then this movie appears to be going in right direction.
Further, i bought products of both page and lux and my review is that page products nowadays have fallen a bit in quality (socks i bought and didn’t last even 3 months, even roadside stands one would have lasted longer), this review is about socks only and can’t comment on other products. I bought onn t-shirt from a small shop in my hometown and i must say that it was a good value for money deal, it costed me 300 (less than jockey underwear) and have been using it for a year now. I think in india there is still a large enough market for companies selling value for money proposition. If premiumness is to be compared then i must say that page as well as lux both are confusing their customers, page is compromising on quality and is utilizing their brand which is not a good thing, on the other hand lux is attaching their premium brand onn to a cheap but good product, which also is not good as we have seen in the case of reebok. Nowadays i have seen a lot of clothing brands like ven heusen and others selling underwears, that is a bigger threat to jockey than lux.
That’s all from my side, i will try to add a bit more of this company, and keep in mind i am not a professional investor, instead i am a cheap fellow who wears lux instead of jockey and who has refused to give in to societal pressure of buying 500 ka chaddi. Kuch bachaunga tabhi to invest karoonga
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