Moser Baer, an Indian maker of optical compact discs, has a great story to tell. Unfortunately for its inertly low valuation, few of its storytellers have their facts straight. This 15-year-old New Delhi-based manufacturer has the makings of a winner, from extraordinarily high margins and booming revenue to enormous profit growth, world-class financial backers and razor-sharp management. But poor research coverage and limited liquidity have made it a conundrum to foreign institutional investors, who treat it as an arms-length trade rather than as a portfolio fixture.
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