General Discussion

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    Registered Boarder

    @Investor_2022, is this the same website that missed out on the crucial fact that BCG had given a detailed note to the shareholders through the Exchanges on ‘Impairment of Assets’ post the results of March 2020? Wonder if that was deliberate or just poor research.

    Topic Author

    @Investor_2022 I have removed the contents of the article to avoid copyright infringement issues. Moreover the writer’s work is mostly one sided arguments. Let’s not welcome such deliberate attempts which could be a part of large-scale propaganda.

    Registered Boarder

    Dear admin,admire your maturity and logic.
    1. Deliberate attempts are constantly being made to create an impression that this company is not very professional.
    2. On the contrary FIIs and other funds are adding this share to their portfolio, almost every week…including me.
    3. Promoters are following the guidelines set out and they are keeping the stake holders informed
    4. Even today they have kept us informed on bonus shares issue …bse website
    5. Many have lost hope due to various reasons…mainly mmb and other uninformed or paid articles
    Best wishes to believers in this forum,who are already sitting with HUGE returns

    Registered Boarder

    Why so much silence in this group? Isn’t it time to break your silence. I remember when BCG fell 10% sometimes in January all popular boarders of this forum came in one voice motivating everyone to hold their shares. Of course then big guys were selling. I don’t buy the argument like no one asked us to sell or buy and one should do their own research. It is a fact that people like me Come here to get an opinion as we don’t have much means and knowledge to understand what is going on. We all know MMB is a jungle and we are aware of tigers roaming around there. We can handle it. But tigers under the garb of cow’s skin…. hope I am wrong in my assumption. By the way I have started buying again in truck loads.

    Registered Boarder

    In January, February we had many topics to discuss like MediaMint acquisition, results, conference call, audio ad acquisition etc. In March we talked about FA and now there isn’t much to talk about as there are no fundamental developments. We’ll have to wait for the results and then the conference call.

    MMB is completely different from a forum like ours. Whether there’s any fundamental development or not they’ll keep having discussions there.

    Registered Boarder

    It will be one week post Apr deadline given by the management for CFO appointment… Unlike bonus issuance, this action is totally in the hands of the company and not dependent on exchanges the general expectation is that company would stick to its timelines

    It would be better if management issues an update soon with latest updates if any along with a new timeline

    Registered Boarder

    That is their problem, I don’t know whether it’s laziness or negligence or carelessness but this has to stop. As everyone points out every time, this is not a smallcap anymore and they have to take things seriously.

    FPIs should appoint someone to the board and they should make the company take market related things seriously. Maybe all retail investors should write to them (FPIs) and request them to nominate someone to the board. Like me, I’m sure all the investors are tired and frustrated of calling the company or mailing them and not getting a reply.

    Management people are like Kumbakarna, 6 months they’ll be very active and do things very quickly without any delay but the other 6 months they’ll be too lazy. On corporate governance related things there should a Lakshman Rekha, they should be very strict with it.

    Last bonus issuance went smoothly and no one had any problem but this time it’s going horribly. Last year dividend payment didn’t go well but this year there was no problem.

    Registered Boarder

    To be honest, I am getting more positive every day, as share price falling. After so much fall, share is still quoting about 15PE (16.8 as per now), which for me is very high given the standard of management communications. I also note the high volumes everyday. Also, like the incessant noise on Twitter and Moneycontrol. The management is lethargic, but is being painted like criminals with hitjob articles, resulting in lots of panic. I also think, many people bought only for sake of bonus, and are now realising the dangers of such an special situation investing strategy.

    I am disappointed about shareholding fiasco, but I expect similar games to continue, till management gets a respectable share. All i wonder is, since they have bought Mediamint, can they use its cash generated to increase promoter holding in a clean manner? Crossholding is legal right ?

    Registered Boarder

    Time and again, action or the lack there, by the management, results in avoidable anxiety at the investor level.
    And it’s not that it would go unnoticed by Mr Reddy.
    There have been a number of occasions in recent months when investor concern was addressed through release of some information or update to the shareholders via the Exchanges.
    For some particular reason or reasons, that is not being done in the current turbulent times; and the compelling need of the hour is to do so.
    When the markets are in such a funk, as in current times, the communication from management may not necessarily result in a reversal of the visible negative sentiment, but it would certainly ease the minds of the (thus far) faithful retail investor community.
    Mr Reddy, kindly oblige your faithful flock.
    I have a theory which I could share with fellow members, but discretion may truly be the better part of valour, at this juncture.
    In the meanwhile, we shall resort to other means to lift our somewhat sagging spirits-mechanical winches included.

    Registered Boarder

    Yes it’s been a tough five-six weeks post the SHP and yes trying to resort to other means to prop up the “sagging spirits”.

    The anxiety was definitely avoidable, but looking forward towards next week starting with crediting of bonus shares, brightcom results (45 days post closure of last quarter, unless Mr.reddy has a surprise for us there as well !!!) and conference call (probably the most awaited event, to bring in some sort of sanity and to clear up all the speculations as to what happened to the promoter shares).
    So two questions I needed clarity on :
    1) Is there any loop hole or provision where the company can avoid declaring results and concall citing ongoing financial audit
    2) The large deals and volume traded happening all through last month and this month as well we’re pretty decent at an average of 25 lakhs, “volume never lies” can we assume that there might be some wild cards that we as retailers are not aware of? Or is it just me and my biased invested opinion.

    Thank you in advance

    Registered Boarder

    Chris, on your second question, without a doubt, you and I and scores of others on this forum with their “biased invested opinion “, with fingers crossed and hope beating (albeit faintly)in the respective chests.
    As to your first question, the company could get 60 days since the audited annual results have to be declared too.
    But having said that, the joker in the pack is the FA result which is due, but that pertains to a previous year and is essentially a balance sheet item.
    As to the SHP, the genie in the bottle has shown no signs of emerging thus far, and as you have rightly observed, we need to wait for the conference call or some other communication from the company addressing that curve ball thrown at us.

    Registered Boarder

    Never waste a bull market. Even if brightcom goes back to depths from which it arose, it wont change the fact that mediamint’s past promoter was alloted share at rs.120 per share. Great move looking at current prices.

    Registered Boarder

    Guidance numbers for this year is also pending since long… Not sure if the delay is for CFO appointment or something else

    Request management to please share it soon on a comparable basis without MediaMint

    Registered Boarder

    It’s good that people brought the bonus issue to Zee channel’s notice. This will make the management people to act quickly and will make them to avoid these type of mistakes in the future.

    It’s sad to know that they are not picking the calls of even business channels. From now on at least they should act like a large cap company, hire people for specific roles and reply to each and every call or mail.

    If they commit to something they should execute it. No one asked for bonus but they declared it. It’s clear that (as others have pointed out too) bonus was issued to make FPIs and other people to pay faster. They should’ve prepared properly to handle these things.

    Registered Boarder

    It’s clear that the delay is because of the extra preferential shares and more clear than that is that the company was not prepared to handle this properly. They anticipated more business so they’re acquiring MediaMint but why can’t they hire people to handle the bonus issuance? Temporary hiring would’ve worked. Even the CS (who’d have handled this properly like he did the last time) left and they didn’t hire anyone to replace him.

    Now this issue is on national media and an embarrassment for the company/management/promoters and also for shareholders like FPIs, Mr.Shankar Sharma, MediaMint people and us retail investors.

    They should hire a consulting firm which gives advice on these things. The CEO can’t handle all these things alone.

    Registered Boarder

    Msg as found in mmb by Black m,
    Any well informed long term members, kindly comment.
    # Dont guess anything without knowing the fact, management and RTA not answering for reasons,they cant say anything untill Forensic audits is going on.Since matter is under forensic audit they cant expend general reserves to issues bonus shares and those shares could be not allowed permission to list on exchange by regulators untill this matter is not clear. as i hope, before Board meeting the FA report will be out .. so stay alert…. dont take decisions on whats going on social media platforms and news channels..finally its your money and you should take care about it… #
    Thanks Black m, for this msg

    Registered Boarder

    I don’t think it’s because of the FA as FA doesn’t interfere with the operations and corporate actions like results, bonus, buyback, dividend etc. In the channel also they mentioned that the delay is because of the extra preferential shares (and the lock in periods that those shares have)

    There’ll be some confusions and one example I can give is – even though Mr.Sharma paid money for warrants conversion before the record date, they got approval to list those shares after the record date. So will they consider allotment from the company or listing approval by the exchanges? Maybe same with the shares for MediaMint people. If these people don’t get bonus shares then that’ll cause problems. If everyone remembers, last time they made plans to give bonus to FPIs and the issue price was set at a different price but later they changed it.

    My understanding is that they rushed this bonus issuance as they were not prepared to handle it and were too careless or negligent. I guess higher stock prices makes people lazy.

    In other companies that I have invested which have given bonus, no company had done any preferential allotments or warrants and the issuance went smoothly. (Even BCG’s last bonus went smoothly without any problem)

    Registered Boarder

    Thanks Logan, I am happy to be in this forum, as the info here are authentic and without any bias….looks like the management has become careless or RJ and management are playing this game for more accumulation. Either way happy to be invested in this share…

    Registered Boarder

    Thank you Logan for good explanation.

    Just another argument If I look back in history if a company is dubious or have bad management bonuses are issued to prep up share price and it is not delayed. The bonus shares are credited very fast.

    In our case it is delayed due to some reasons. The investors are panicking but personally I don’t know a single chor company where bonus issue was delayed. Hence if bonus is delayed that doesn’t mean bcg is a chor company.

    The other reason of not picking calls is management is not prepared for such large volume of calls and doesn’t want to disclose their problems with public and hence no notification was done.

    Registered Boarder

    Hi, Another reason for the public to panic is they sold their existing shares anticipating bonus shares to credited. Long term investors don’t see any reason for sure. Most of the guys creating ruckus to accumulate at lower levels
    May be the management is also involved to accumulate. Hope this drama should end by this month end. It’s just matter of time. Stay put.

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