T4P,Be careful here, I have had several similar conversations...

T4P,

Be careful here, I have had several similar conversations with the company and have received the same feedback. Problem here is that whilst they broadly agree with what you're saying, they're gettting ready to put more shares on the market. I sold out yesterday after having a gut full with them and whilst I see the shares are up strongly today, it just provides them with more scope to sell more at a better price. The fact that you were told that the Board should receive the message you relayed to the company is cause for concern as it should already be ringing in their ears very loudly. INR and GUJ were to be a single entity, but Tax issues prohibited this. These guys aren't as niave as we think and the price of GUJ is being managed for an end result you mentioned previously. I'm not trying to scare people, but just exercise caution, these guys are cow-boys and the Indian Market has a long way to grow before it comes close to the corporate governance practices we accept from our better companies here. In a situation like this, where there are no earnings or cashflows at present, there must be a lot of faith put in management to deliver the assets for GUJ shareholders in particular. I'm just not convinced this is really the case at this juncture. Good luck. Personally, I will revisit this once the 2 have merged

Duck