THIEF OF CALCUTTA:

Usha Martin Ltd Re 1 FV

Usha Martin is amongst pioneers in India for production of wire ropes. However main objective of Promoter to go for capex appears to be siphoning off HUGE sums . That is why Company posted massive loss of 404 cr in FY16. Has already incurred 200 cr loss for 9month in current year

Bankers are equal partner in this crime who all these years have been sleeping over loans extended. Why bankers did not smell embezzlement of funds 3 years back when co started reporting big losses. Now is too late to bolt the shed when horse has fled
If forensic audits are done by competent agencies, Vijay Mallaya type frauds will be detected. There are _hundreds of Mini Vijay Mallaya_ ensconsed in luxuries of life for whom tax payers' money is holy water to take dip in

Revival of it's fortunes is extremely difficult unless lenders take big haircut

Investors be cautious whether such huge loss making company is a buy at cmp Rs 200 on 10 FV. Greed of Investors driving blindly to such counters who never bother to see Face Value of the stock