the deal wrote:Unless we see an official announcement from the company on the NSE website showing details of the transaction I will treat this storo with caution!
Deal. You are indeed right. See my comment on the thread on "Agricultural Stocks looking Greener".
Mgt explained the rationale for the sale during the AGM. Proceeds will be ploughed into acquiring more land for their core business so expectation of a special dividend is MISPLACED. I even pressed them to confirm whether they would continue with their 15/= dividends in future years and they were non commital.
But, you can't blame us (shareholders) for enjoying the current ride when the rest of the market is in the state that it is!
Meanwhile, I reiterate my conviction that this company is still worth a lot more than the current share price. This goes for practically all agriculturals, and that's a FACT!