Good investing reading
Insider trading is rampant in India
The head of the NSE says what all of us know. Namely that insider trading is common-place.
Tata Motors – in bad shape
Tata Motors is ready to give new buyers a buy-back assurance on their Manza sedan. Did you know? They have to be pretty desperate to do that. This and more facts about Tata Motors weak domestic business are written well in these two articles.
PI Industries – profile
PI Industries is an interesting company. They have 2 sources of revenue.
- Sale of Agri-inputs like pesticides
- Outsourced contract research for agriculture majors (similar to what many pharma players in India do for global pharma majors)
The stock has run up significantly. It looks expensive compared to valuations that it has fetched in recent years. It has low trading volumes. Might be interesting at lower valuations.
Ajay Bijli – PVR
This is a good profile of PVR and the story of how they have grown. You would have read about their acquisition of Cinemax. This and much more is captured well in this article.
Incidentally, it is a low return on equity business. FY12 RoE was around 9% which is hardly attractive.