Interestingly, I started looking at this stock some time back when it was close to Rs350. I liked everything except what you pointed out (@Marathondreams) . I looked at BSE http://www.bseindia.com/stock-share-price/stockreach_shp.aspx?scripcode=524731 and wondered why promoter stake is reducing. So I stayed away from the stock.
Stock moved from Rs350 levels to Rs450+ levels and results post that were also quite good. This time around I looked at a longer time frame to see what happened to promoter holdings. See below it has been increasing steadily over longer term. I realized there is one individual promoter Ketan H Bhuta who has been selling whereas other promoters have been buying. This gave me the courage to buy. Of course I would have loved it if no one was selling.
Disclosure: Invested.
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