March 22, 2021 at 8:45 am #11386
@sac6310, Your points well noted and we will ensure all the related discussion will happen with skr. however, as collectively we Hyderabad team has decided to wait for few more days max untill end of month for communication on PW’s status from exchanges before going for any meaningful discussion.10+March 22, 2021 at 9:05 am #11377RavirajRegistered BoarderMarch 22, 2021 at 8:11 pm #11389Fox@108Spectator
I really appreciate the efforts of the Hyderabad team who are planning to meet skr soon but previous meetings didn’t bear any fruit on ground with respect to share price manipulation.
1) As SKR is good with speeches and knows how to deal with shareholders with his words so I request this time the members to pressurize the CEO and make him understand how frustrated the long term investors are and how most investors are planning to take legal steps in any way possible to stop the manipulation if management is least interested.
2) Also need to highlight the pathetic corporate governance and failed timelines. The recent distribution of dividends (though I don’t care about the dividend neither I mailed to get it) but it highlights the poor governance when they fail to pay according to SEBI guidelines.
Make them realise investors didn’t care about the dividend but the way it was distributed did more damage than any good to the already shattered corporate governance image of BCG.
3) Also I beleive questions need to be raised on what’s their future plan with business in India as their standalone performance is not picking up in anyway.
4) why consolidation of all subsidiaries are kept in hold as its important for market sentiment to grow positive and an entity under one umbrella will unlock the company value further.
5) Instead of dividends in the near future let the company go for buyback with that money to reduce free floating shares.March 23, 2021 at 9:31 am #11390
@Diana and Logan, request to guide us where are we struck again here in the vicious circle of value discovery and market participation. Nothing seems to excite the market. Completely cluleless about PW’s and things been halted here for what purpose can only be guessing. What will be the situation pre and post PW also could not be acertain. What do you think for a respectable PE market cap we need to wait for more unfolding stories. We have planned meet up with skr, but would like to take your opinion on where we stand as of today. We feel Corporate Governance is the issue and its improvement seems far from over as we wait patiently.March 23, 2021 at 2:06 pm #11391Diana HortonRegistered Boarder
Many Thanks for asking me an opinion.
I completly agree with you and majority of the members of the forum and there is Blatant Manipulation going on.
WE have collected as much vital evidence we need to and if need be to bring this management down.
Having said that, The management has revealed some signs of progress in the pending job, which is a good news. But, thats NO EXCUSE to RIG the stock down.
Herewith I am attaching the JPEG of the Rally that has happened in the last two years. If you look into the patterns, Every year these guys pegged year end of March or Begining of April for thier rally to begin. It might be thier Finances situation or BENPOS Manipulation to set the record straight before the Financial Year end.
There is NO meaning having any Kind of sensible conversation with the management as NOTHING TRUE will be coming out and all will be decorated Blatant lies, especially to SUIT the management NEEDS.The pattern is Create an artificial problem or an issue and Peg the same to the M cap suppression and blame the same on the market.
Anirudh.., I have given myself some time untill the end of this financial year, which is almost a week in front.If the true rally dosent start, I shall reach out to you.I do have your email contact ID to do the needful.
Hope this helps
Attachments:March 23, 2021 at 10:00 pm #11397
Well spoken @jay69. From time to time, one expresses his or her frustrations with this abominable attitude of SKR and his toothless board. No independent director worth his or her salt would be a silent spectator to the manoeuvrings on display of such brazen price manipulation and control, not to speak of countless missed timelines (so convincingly articulated by Mr Reddy to a ‘desperately seeking redemption’ audience of wanting to believe retailers) of various important milestones that could have lifted the company to an altogether different hemisphere of sought after new-age tech companies.
The shamelessness of it all and the complete lack of ethical responsibility toward the ‘trusting’ shareholder of a public listed company is truly mind- boggling.
But then, as I have stated before, we bleat but no avail.
We are toothless too, like the other board members, in this charade being played out- just puppets on a string being deftly jerked around by the one and only master puppeteer.March 23, 2021 at 10:01 pm #11398March 24, 2021 at 9:19 am #11399
@Diana, Many thanks for your reply to my post. I agree with you Lets wait till end of this FY2021 and see if there is change from April 1st week onwards, both in behaviour and pattern of stock movement and at same time needy (one man show) attitude to see if he/operators let it go its own way without further manipulation and sustainable rally happens in BCG.
Action Plan is ready if it continues beyond a limit and set timelines. @Rathi ji and Hyderabad investors have some plans depending on what comes out and span out in next few days. For sure we won’t be just finished with sweet talks and blatant lies. Please do contact me once you feel its the right time to collectively take action for all the best interest of Retail Shareholders. We have to fight our battle without leaving it to someone’s mercy.March 24, 2021 at 10:02 am #11400buffetRegistered Boarder
If things don’t work out as expected, I think we shall take legal advice/action as well. We will contribute towards lawyer fees if the need arises. This can’t go on forever. Enough of these dirty games. Let’s be ready with all options & take a collective decision.10+March 24, 2021 at 10:07 am #11401Rathi_bRegistered Boarder
Dear members most of the offices in hitech City, Madhapur and Miyapur are closed due to increase in covid cases, the offices have been shut till first week of April now. It looks that the meeting is likely to happen at the earliest in the second week of April. Apologies, but there is not much we can do. We are still trying our best.March 24, 2021 at 12:11 pm #11404sac6310Registered BoarderMarch 24, 2021 at 4:16 pm #11405buffetRegistered Boarder
@rathi_b Is SKR ready to meet or team will walk-in directly? Did anyone receive any communication from BCG IR in this regard?5+March 25, 2021 at 9:56 am #11408
No doubt today that BCG is the operator’s paradise and highly operated stock with the hand in gloves with needy. Stock back to where it started 7.70 to 8 rs range. Thrashed mercilessly from 10.80 to 8 without any breather.High time and as Diana Horton recommended, we are waiting till End of this month to see the action plan. Nothing less and more post 31st March. I know for sure i will make some sensible breakthrough this time.March 25, 2021 at 11:46 am #11409
The price action could suggest that the PW issue possibly stands rejected, bearing in mind the 3 months deadline of issuance after receiving the shareholders’ approval.
In that event, the company is obliged to report to the Stock exchanges as well as inform the shareholders of the same, as well as the reasons for the denial.
If rejected, it may be difficult for BCG to undergo the same exercise again in the near future. Which then begs the question as to the availability of additional funds required for the growth of the business, as well as discharge and settlement of the pending Daum issue.
There is no update on the LOC, which is surprising, considering the ‘almost done’ proclamations by SKR on a number of occasions, and the confidence expressed by Rathi_b and team after their second visit to the BCG office in December 2020.
So, where do we stand today? And what bodes for the future of the company and its place in the market from an investor’s perspective?
The recent positive Analyst’s report factored in the receipt of funds from the Preferential Warrants, and the LOC was to be the ‘whenever required’ funds against receivables.
May I specifically request Logan and DH to offer their thinking on this ?
Or is it premature to sound doubtful and concerned at this particular point of time.March 25, 2021 at 11:54 am #11410sac6310Registered BoarderMarch 25, 2021 at 1:27 pm #11412March 25, 2021 at 1:52 pm #11413vgsatworkRegistered Boarder
I am reposting my earlier post #10937 on how soon the exchanges are Obliged to provide approval
Someone had asked this question couple of days back as to how long the exchanges would take to decide on the PW approval. Looking at this below, exchange must have asked for details/clarifications from BCG. If they have provided the same, the approval should come through within 30 days of BCG providing those clarification. Again, here is a lapse from BCG in terms of disclosure. They should have disclosed if the exchanges have asked for clarification and whether the company provided the requisite details,etc,..
Below is the extract from LODR 2015 as far as obligation from exchanges are concerned
Obligation of stock exchange(s).
110. The stock exchange(s) shall grant in-principle approval/list the securities or
reject the application for in-principle approval /listing by the issuer or issuing
company, as the case maybe, within thirty days from the later of the following dates:
(a) the date of receipt of application for in-principle approval/listing from issuer or the issuing company, as the case may be,;
(b) the date of receipt of satisfactory reply from the issuer or the issuing
company, as the case may be, in cases where the stock exchange(s) has sought
any clarification from them.”
Based on the conf call update, SKR said, all clarifications have been provided and this update was from 20th Feb. Hence by 20th March, exchanges should have conveyed their decision as per the LODR obligations. OTherwise there must have been additional queries from them which BCG has to respond/ might have taken time to respond due to which the 30 day limit is not yet reached.
In any case, from transparency perspective, an update from the company was due on 20th March (Exactly a month after CEO informing in conf call that ALL queries from exchanges have been responded back to). Market always treats no news as bad news in such cases….March 25, 2021 at 4:59 pm #11414Srd.rdxRegistered BoarderMarch 25, 2021 at 6:41 pm #11415Srd.rdxRegistered Boarder
BCG mgmt should provide an update on current status. There is too much of suspense over it.2+
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