There is a lot of news about the EMAAR- MGF reality joint venture. It is supposed to get the largest FDI in the sector and a lot of PE funding. Actually the joint venture partners are the owners of a finance company called Motor general finance ( MGF ) listed on both NSE and BSE. The balance sheet is just as bland as their hire purchase and leasing business. The JV is expected to come out with a 700 crore public issue and they are one of the major players in punjab. The pointed to be noted is who holds the shares in this company. The details are not forthcoming and the promoters seem to have conveniently blanked out the equity holdings page in the MGF finance website.
The problem with the stock is that its either on the uppper circuit or lower and there is no justification to buy the stock purely based on the existing business. The dope is that some informed circles are into this stock from a large industrial house. Take your pick
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