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Stock reacting to management comments on cash return. On the call they said they are working out a plan to return at least 100% of net income as dividends and/or buybacks.

Assuming ~550Cr of annualized net profit would imply divi/buyback is >5% of market cap even after today’s move up.

Some of the risks you have highlighted are not just risks but the nature of business or the inherent risk.

1. Lock-in period ending is not a problem at all, there is a lot of demand of Samhi shares among FII/FPI/DIIs and will be absorbed easily. Refer so many block deals in the past.

2. Pending renovation- last 3-4 years were the worst for the hotel industry, hence no point of adding and new inventory or renovation. That was industry wide and not just for Samhi.

3. Hotel sold – are you it was Samhi who sold the hotel as I didn’t see its name in the news.

4. Write offs : you are correct about it but saying they have history of write off could be an exaggeration. All the soon to be profitable enterprises generally do some write offs. Refer Zomato.

Having said that, there are limited number of companies driven by best in class management, good governance. Maybe that’s why some of the best FIIs have invested in the company and continuously increasing the stake.

Invested so somewhat biased.

May be may be not, we also need to understand and take it into perspective the Demographics of most of the world and where the demographic lives (T1,T2,T3) needs to be considered.

Yes, I agree that the Indian FnO markets are sought after the most by retail investors with <1 year(s) of experience in the markets, it is a problem. But Indirectly many more retail investors are picking up regular SIPs, which is good for the markets.