Hitbhai Infact we all must thank you for noticing this potential multibagger. Hats off to you. Once you high lighted this it was very easy way going forward. I went to local builders and tile retailers/small manufacturer’s and found out that transport cost and breakage during transport is eating into profits of gujrat based tile makers and given chance they would just latch on asset heavy company like murudeshwar. Infact their brand navin (named after younger son of promoter) is also a good brand in western maharashtra and karnataka amongst builders. Seven to eight years back promoters were very focused on tile business and navin was first tile brand to have exclusive outlets.But after that RNS group got interested in hotels/education/tourism/auto retailing and focus on this business fell apart. Because of this a sound company with 30% margin (more than kajaria) and with sound financials went down to such low levels.
But the key strenghts like modern manufacturing capacity,strategic location,captive raw
material mines,established dealer network,good brand pull in institutional clients remain intact.
I belive that smart group like RNS is aware of this and will try and make out most by taking advantage of overall bullishness in tiles sector and may sale this to bigger and more focused player. Atleast people in this business are expecting this and probably this is the reason that you noticed some activity on charts. But again hats off to you for throwing brilliant ideas time and again.