Mehraboon Irani positive on SmartLink Network

Mehraboon Irani, Nirmal Bang Securities is positive on SmartLink Network.

Irani told CNBC-TV18, "We are very positive on SmartLink Network. When the company has sold off its main business Digilink, eyebrows were raised wondering as to why the company never demerged its business and never sold its whole entity and made an open offer to the shareholders. At the end, the promoter Naik has not charged any non-compete fee. The brand of Digilink was in his name which he sold for Rs 1 to the company. The company has sold the entire Digilink business to Schneider for Rs 503 crore and on a post tax basis it works out to Rs 400 crore. The company was already sitting on cash of Rs 50 crore. With not much of businesses, the company is sitting on Rs 450 crore cash, yet with five units there.