Hi Nilesh, from an article in the Hindu today, I have found that the Kavach system requires RFID cards and readers. There seem to be very few listed companies in India that are into RFID. After visiting the company’s website however, I am not sure the company is into RFID.
I did not note however that one of the negatives in your view was declining promoter holding in the company. However, I had noted to my surprise that this was one company where the promoter holding had dramatically risen. From 0%(!) Dec 22 to 90% in March 23 is exceptional indeed. It has now declined to 85.87%, which appears reasonable.
It does seem that its RFID foray is limited to cards.
Incidentally, I am also looking up Syrma.
Disclaimer: Not invested.
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