Stalwart Advisors

EXIT Asian Granito

Reproducing below an excerpt from Page No. 38 of Initiating Coverage Report shared today morning:

¨Either ways, for whatever reason, if Mr. Tapan Jena resigns, we too will exit along, no matter how rosy the picture is at that time. The only thesis here is ‘change in leadership’ and likely transition to good governance in pursuit of higher market capitalization; we will exit when that key change agent exits.

Little did we anticipate that the exit trigger will materialize so soon; we just got to know that Mr. Tapan Jena, AGL's change agent, has resigned from the position of Group CEO on 15th Feb 2016 with immediate effect.
(Source: http://www.bseindia.com/corporates/anndet_new.aspx?newsid=8aedc5b8-29af-4e5a-ab5a-b8294dd758db)

We suggest to liquidate shares of Asian Granito tomorrow. Though Asian Granito stock closed 7% up today and one should get an exit at least at par, we must exit tomorrow itself even if that means booking a slight loss compared to entry price.

We are dropping coverage of Asian Granito with immediate effect.


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