It is fair to say that promoters' selling is a red flag for Sintex Ind but since the promoters are the same for Sintex Plastics as well with the same holding structure, isn't that a negative for plastics as well?
Sintex Ind has a huge debt but the interest is extremely low (almost 2-5%) and is, hence, beneficial for the investor. Provided the loans are significantly reduced when the subsidies run out.
There has been a major capex which will add significantly to their top-line and margins, esp. since they have planned capex for value added yarn.
Historically the textile division may have been neglected, but I believe it may not be the case anymore. The perception you have of it is probably the general perception out there and may be the precise reason for it being undervalued at the moment.
Do you have any reason to believe that this is a manipulative stock? Haven't found anything to suggest so yet.