Why don't we stick to something like Pennar which has same PE, better div yield, 20% growth, 10 times larger and diversified product portfolio.

No idea. No news. Fundamentals look intact. Found their analyst prestation informative. Looks like they will get into wagon manufacuring. Time to add more if there is no -ve development.

Originally posted by hit2710 CONCERN: PROMOTER HOLDING HAS BEEN GOING DOWN FROM 76 TO 52 % SINCE LAST SIX QUARTERS. (If anyone can explain this phenomenon, it will be helpful)

The Promoter holding has gone down only marginally, from 76% to 72% over the past 4 quarters. The reason why its appearing as 52% for the March 2010 quarter is because a few of the Promoters are now appearing under the Public > 1% category, rather than the Promoter category. That might be due to some technical reason due to which they are no longer classified as promoters.

Following are the details of their holdings for June 09 and March 10 quarters. The entries marked in blue have shifted from Promoter to Public > 1% category over the period.

Name                                       Mar10       Jun09   Chg
Girdhari Lal Modi                       49.3          49.3      0%   
Prakash Chandra Modi              46.6          42.0    11%    16.4.10** 
Raj Kumar Modi                         41.9           41.9    0%   
Sanwar Mal Mody                      50.6           49.7    2%   
Suresh Chandra P Mody              2.3             2.3    0%   
Ginidevi Modi                               0.0            12.0   -100%   
Kumar Jay G Modi                      17.5              8.5    106%   
Nirmala D Mody                           8.2              8.8    -7% 
Mahesh Kumar P Mody                0.0             7.3    -100%   
Omprakash Modi                         4.5              5.2    -13%   
Lalitadevi Modi                            3.5              3.5      0%  
Rama Sanwarmal Modi                5.8              5.8      0%   
Sarla Girdharilal Modi                   2.7              2.7     0%   
Vijay Kumar Modi                         0.0              2.3    -100%   
Rameshchandra P Mody              0.0              2.5    -100%   
Others                                         0.3              2.8    -88%   
Total (lakh shares)                  233             247    -5.4%   
                                                  72%           76%       

**Prakash Chandra Modi increased his stake by 11% through open market purchases on 16.4.10.