My mistake regarding another group company. The 3402 cr is in partnership with Squarespace Builders. There’s some other Joint Development Agreement with Hinduja Healthcare Limited for a smaller parcel of land.
The other point is this - the Hinduja group is known to do related party transactions at a disadvantage to the shareholder. Hence the discounting. Their actions in Hinduja Global Solutions, and the apparent underpricing is cause for concern. Hence the drastic underpricing.
If they’d buyback the the shares with or distribute the whole amount as dividend, it’d be one thing. What’s the guarantee that they won’t lend to another group company at 4%, which they have done in the past.
Having said that, the price may be so undervalued that even if you take into account possible company activities not in the interest of the shareholders, you may still make a tidy profit.
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