I do not remember exactly which year it was…when JM Financial held a press conference to introduce Mr. J P Gaur to the investing world, but I was sure impressed by that man.
I bought the shares at Rs. 10 and sold it at a good price – and held a small number of shares – about 2-300 for a long time. I was (and am) very sceptical about a contracting company and that too based in the North. I have traded in JP group shares but never ever considered holding a sensible quantity in my portfolio ever. However, it is a company that will sell its assets and repay loans instead of being called a defaulter for too long.
He has in many forums admitted his mistakes – and I still carry that ‘I am impressed’ of his 1990s image. Later on when the group had a lot of debt too, I liked his attitude ot standing upright – and settling in full.
I have not been following the balance sheet – so i will not have any clue of the gold/ platinum plating that would have happened in his books.
I no longer hold any shares, but hope to visit Himachal Pradesh where he has a great presence. The last time I thought of him was when I used the Delhi – Agra expressway. I was impressed. However i was far more impressed when I used Jaypee Hotels @ Agra. It is luxury redefined. Made ITC – Mughal Arya pale in insignificance. And that is saying a lot for a person who says he does not know the hotel / food business.
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