Sunday, August 14, 2011

SKS MICRO - READ BEYOND LINES


After the unceremonious ouster of Suresh Gurumani, the CEO who successfully steered the IPO of SKS, some well known personalities, known for their integrity have also resigned from the board. They are, Gurucharan Das and Pramod Bhasin. Ashish Lakanpal one of the founder directors is not on the board now. The earlier company secretary has also quit.

We had given sell call on this stock right from Rs 1300 level. The stock will come below Rs 200 in the near future. Apart from numbers, it appears there are corporate governance issues. Only time will tell what is wrong with the company.

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