Last month I attended many AGM’s and in one of the AGM’s the following events happened:

1. It is a TVS group of company and the CEO is already 74 years old.
2. The market cap of the company is around 3200 crore
3. The external director extolled the efforts of the CEO for creating the next Gen CEO's of the company (who are none  other than the Wife and the daughter of the aging CEO)
4. The company is a debt free one so far but suddenly is in an urgent mode to go in for a huge debt of Rs 1000 crore (what is the hurry?). The CEO evaded the questions on Debts and the usage of the debts/how the company is going to serve it.
5. The CEO, on the other hand, informed the investors that the price of the stock has moved up by 400% in the last one year  and the scope for further up move is still there in the stock (Do we expect the CEO to talk on the share price in the AGM? Or is it the only one stock which has moved up in the current Bull Run? Only the CEO has to explain this!)
6. The AGM was hardly attended by 50 investors. (Should we blame the CEO alone or the lack of  investor’s interest in participating the AGM)

After the AGM, I decided to sell off my entire stakes of my holding in the company not because of the ballooning debts but the questionable attitude of the management.  Can you guess the name of the company?  I’ll inform the name tomorrow.

Coming back to the market, the FED has decided to keep the rates low for some more time. Today the F&O may keep the market volatile. Let us discuss some more interesting topic in our next posting!