Maybe it has to do with their 2 Joint ventures where they are holding 50% → 50% of the profit share.
One of the venture is between Lancia (100% subsidiary) & Mr Chataiwala’s son 
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Did anyone attend Lancer container’s AGM?
No questions were allowed, it was over in < 20 mins. https://www.youtube.com/watch?v=9zp9l8W-OaM.
Have small position w a small loss… though company is apparently expanding and probably at bottom of cycle now, I see too many corporate governance red flags & will exit soon.
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Can you list some of corporate governance red flags?
on 07.08.2024 shareholding was published by the company and same is available at BSE site
Aug 07, 2024 Elara Capital Plc 19,080,000 8.01%
Jun 2024 Elara Capital Plc 16,218,000 6.89%
Any idea to increase shares by Elara!!!
and
Again, right issue is coming of Rs 150 Cr
Any guess on what could be the right price?? Near term looks glim but 2 years down the line seems great.
No idea about the right … generally rights come less than 10-20% on current market price!!! Might be that reason, they are lowering the CMP !!!