Portfolio Update - Parsvnath Developers

  Its been a while since I posted any messages.. Work, School & Family are keeping me really busy!!

  Since the start of this year, I have not made many transactions in my portfolio. But something about Parsvnath Developers (company was part of my portfolio) caught my attention. The company promoters are currently holding 63.60% shares of the company and promoter 'bodies corporate' are holding 11.11% as per latest (June, 2010) update. And promoters and promoter companies have pledged 77% & 98.46% of their respective holdings in the company. In other words, majority of the shares of the company are now pledged!!! Could be because of many reasons including promoters in financial trouble and gambling with the company.

  I didn't think it was a responsible action from promoters, so sold all my shares in the company. Again, the pledge could be because of many reason but I didn't want to find out the reason and future results with my money!!