EGM of the company is presently on as I type and company has an hour back declared 30% dividend which works out to almost 7% dividend yield on the present market price.Yield is good and if the stock falls one should buy for better dividend yield.
However results are not yet out.
Promoters are also issuing themselves warrants at Rs 35 a share(lock in period--3 years) based on average 6 month price of the script at Rs 32.
OK results just out of the oven...........last quarters results are good with 80% increase in sales and 25% increase in NP year over year......and quarter over quarter sales have increased by 40% and NP by 84%...........yearly sales have increased by 25% and NP decreased by 70%.......showing the overall sluggishness of the year.
With the economy showing promise going into the future and the space looking with promise one could accumulate at 40 and below.Promoters are taking the stock at 35 hence if it gets there its a buy as downward risk would be low.
issuing of warrant to be converted at just price of rs 35 per share to promotors is totally wrong doing and injustice to minority public shareholders by management of man industries
promotors are aware that book value of man industries shares are rs 70 approx so how they can allot themselves warrant at rs 35 which is 100% discount of their existing book value
i still dont understand why major public shareholders like mutual funds fiis and domestic financial institutions are not objecting strongly
if you need better dividend yields buy supertannery ltd bse code no 523842 at price of rs 5 which is giving stable dividend @ 10% WITHOUT BREAK SINCE 1993 supertannery is again strong bonus candidate in near furure and management have also planning to list supertannery shares in nse also in near future
supertannery main competetor are bata india and are world leader manufacturing world class industrial leather safety shoes in india
Iam not sure.............to take the stock at 35 with a 3 year lock in period is risky,anyhow it does also show their confidence.I would take the stock now at 42 without lock in period. Anyhow in another 60 seconds the promoter is coming on CNBC-TV. Lets see what he says.......
dont post wrong messages i have gone through the outcome of egm promotors have issued them selves 25 lacs warrant to be converted in to equity after 18 months only and their initial investment is just 10% only on these 25 lacs warrant
i fully agree with the views of karan that this is totally injustice to minority public shareholders of man industries that promotors issued them selves shares at price of just rs 35 when book value of their shares are rs 70 per share
Dude...think before you say something...you think you are the only geek monitoring dividends?? face value of man inds is 5...not 10...so it works out to be arnd 3.5%....dont misguide ppl like this
Friends, Man Industries paid out a dividend of 15% on a face value of Rs. 5 at the end of Mar 2009 when the price was 25.75. This makes the return on equity to be 1.50/25.75 = 5.83%
Hope this clarifies.
Happy investing...
| NIFTY 
