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June 26, 2022 at 6:45 pm #14298intmaniRegistered BoarderJune 26, 2022 at 7:37 pm #14299
Thank you so much @rathi_b for summarizing the meeting.
My understanding of the situation:
1. SKR agreed to meet hyd investors when stock was hammered. I understand at one point hyd investors wanted to meet SKR but there was no response from bcg.
It will be interesting to know who initiated this meeting this time whether it was bcg or hyd group.
Please note the intent of this meeting is to reassure investors. So do not expect any big thing from this meeting. But meeting Hyderabad investors in itself a positive event.
2. Rest when running a company there are several challenges which ceo will not share with investors as same might benefit the competitors.
3. For shareholding issue, bcg has not formally notified hhe shareholding for the quarter. The probability of skr cheating investors is very less. However skr repeatedly claimed that he is invested in company. There is a chance that promoters will increase their shareholding.
If I am the promoter of the company where revenues of the company are growing >50%, I personally would not sell my shareholding.
Rest this meeting with hyd investors shows a positive intent by management. As investors we have yo wait for couple of months to see the progress.June 26, 2022 at 7:54 pm #14295Longplay55Registered Boarder
Dear Rathi_b and Hydrabad Team…at the outset, I must wholeheartedly thank you guys for taking efforts to meet Mr. Suresh Reddy in person. You have done a great job on behalf of retail investors like me who had reposed faith in you. Now, though, the answers from SKR are no-different to what was said earlier; however it gives us added confidence / assurance to continue holding to this investment. Personally I am invested from 2016 / 17 onwards and will hold till end ’23, thereafter subject to EPS growth and market conditions.
God bless BCG and it’s long-term investors.June 26, 2022 at 8:23 pm #14324myainvestRegistered Boarder
Thank you so much Rathi and the team who met with SKR. Sincere thanks for doing this.
Looking at the updates, my honest view is – I exited completely around 59+ after second bonus. It is still c.12x for me. I wish I could have exited around 21x when I had the opportunity. BCG still made a humongous returns for me even at 12x. I’m forever thankful for BCG for this esp, when I started investing around mid 2015 !.
IMHO, I don’t believe market will turn around after these updates, as most of us knew this already. I could be totally wrong too here.
Few old timers, some may not like my message and ‘could’ ask me to stop writing as I had exited completely. I don’t mind, I will still keep looking at this forum with a different id for any further information, which would give me confidence to re-enter. I couldn’t thank enough the admin for doing this !
This is SKR’s company. He built it from scratch and knows what is best for business. Business is doing great in my view – if not for this shp issue it would still fly even if FA came negative in my view. SKR had faced more pathetic situations, esp the bankruptcy case and came out successfully. I’m very confident that he will do it again – I really couldn’t understand what the current situation is. Mgmt responses doesnt give me a clear picture in my view – I can only understand that they are working very tediously on something in the background.
I really appreciate Mr.Reddy sir for meeting the investors this time and honestly update which he has been doing always. I will reenter again when things turn positive from company irrespective of whether the price is high or low than cmp.
My only ask for Suresh sir is not to look at indirect ways of doing things – esp around the shp issue, indirect acquisition of LLPs(in bse notification also they used the term ‘indirect acquisition’) etc. – please do it in direct way, which will definitely boost lots of investor confidence and put ‘our’ company back in track ! Indirect ways has its merit and demerits – if it works people will appreciate, if it doesnt people won’t and will reflect in cmp !!!
Once again really appreciate Rathi’s team and Suresh sirs effort for meeting them with these updates !! Sorry, if I had hurt anyones feeling ( I might be 100% wrong here too with my views) !June 26, 2022 at 10:15 pm #14327sac6310Registered Boarder
sad that even after 8 months(CS) and 3 months(CFO) … BCG using services of them (resigned and retired) employees .. dnt know who advices them all this .. SHP ,FA , bonus delay still somehow digestible ..but appointments and daum negotiation still going on after done deal since years.. There is a limit of everythingJune 26, 2022 at 11:52 pm #14328June 27, 2022 at 6:38 am #14331chrisRegistered BoarderJune 27, 2022 at 6:39 am #14332JackSparrow13Registered Boarder
Looks pretty ambitious and growth driven, given the frequency of switching. Started small, scaled up quickly, sought and achieved leadership positions at multiple local unlisted and listed companies. Obviously Deloitte gave him perks and prestige, but I guess too much competition for moving up even after 10 years. Took a gamble, by being a CFO of a small company (Cambridge Technology Enterprises does sales around 100 + Crores), now moving on to Brightcom, with 5k Crore sales. Definitely a big move up for him. Hope he succeeds and stays with Brightcom for long, with his growth focus.June 27, 2022 at 7:30 am #14333radhutheoptimistRegistered Boarder
Thank you Rathi ji and team for your efforts.
I am sure share purchase for employee trust/ESOP will follow next. This action is within the management control. Btw…. If they purchase through employee trust do they need to inform exchanges immediately?
Hope dividend distribution will happen soon. If they announce record date then there may be some slow down in price fall.
Mediamint closure is crucial…
I am not so naive to call all these inaction as just corporate governance ignorance. Next SHP will reveal the actual reason. Good luck to all.June 27, 2022 at 3:06 pm #14334chrisRegistered BoarderJune 28, 2022 at 6:30 pm #14336
The problem with BCG is that the management/CEO will always act late and this will make people lose trust in the company. The appointment of new CFO is the best example. They knew that Mr.YSR would retire and had time to look for replacements but they got serious only when investors put pressure. Same with bonus shares issuance, and other important things. When you run a public company you should be very sharp and react quickly.
Higher stock prices makes people lazy and we can see that with BCG. They should start taking more responsibilities and should look at investors concerns. Now they have to answer more than 3 lakhs shareholders and should address everyone’s concerns.
FA is not in their hand but appointment of CFO was so they should look at things that are in their hands. Same with bonus, from their end if everything was done quickly then the exchanges wouldn’t have taken more time. If CS was there he’d have handled it properly and they’d have credited bonus shares sooner and we’d not have seen this much supply and pressure.
Business wise they act quickly but market and investor relations wise they are very slow.June 28, 2022 at 6:55 pm #14337NikhilrajRegistered Boarder
But the pain point is everybody starts suspecting whether they are making these delays deliberately. Crefibility eroding than the stock price !10+June 28, 2022 at 7:42 pm #14338June 28, 2022 at 8:59 pm #14339kmr003Registered Boarder
what ever recognition BCG gained in investors circle, they are loosing day by day,
1. Few updates they give to exchange are not up to standards, they even make spelling mistakes, year date etc.
2. The website of BCG is not even updated, still has old data of CS and CFO, Home page is not informative. Look at other company sites for reference. how good they are. BCG home web site clearly it does not fit 5000cr Sales company.
3. Management is clearly lacking investor communication and presentation skills. This has been issue from investors from last 5 years every CC . but SKR is not prioritized.
4. Big investors always prefer management guys who are reachable. I did not received any email response from last 5 years. (written more than 30+ emails)
these are reasons community is stayed away from BCG for many years
5. My personal opinion. by seeing from last 7-8 years. I don’t think he will change overnight. (last year was best opportunity for him, he lost)
They should realize this as early as possible, Best option is SRK should onboard some reputed guys from reputed companies or should offer them his post to bring credibility and respect in investors community.
Investor community should initiate this change. we should have some voting or petition to understand their mistakes.June 28, 2022 at 10:46 pm #14340RajaRegistered Boarder
SKR, looks like he knows what he is doing…especially protecting his personal interests. From the last few months, his activities are not up to stake holders expectations….having said that he has also made several of the members in this forum benefit…looks like things are going out of his control and that maybe the reason he is not able to handle the current situation. It will interesting to know, whether earlier big investors are holding or existing….can anyone throw some light on this ?8+June 29, 2022 at 12:28 pm #14343June 29, 2022 at 1:07 pm #14344June 29, 2022 at 1:12 pm #14345
@logan my understanding is for pledging purposes it was moved to some brokers pool account. As per legal advise since they are not in promoters demat account it cannot be claimed as shareholding.
So once all loans are repaid, the shares will return to promoter account.
Somehow got a feeling this issue was unnecessarily created to bring share price down. It just my own feeling. Otherwise they could have issued same clarification 3 months back.June 29, 2022 at 1:50 pm #14346kiranjRegistered Boarder
If that is the case then promoter holding will be 30% after those shares released from pledge?2+June 29, 2022 at 1:55 pm #14347vgsatworkRegistered Boarder
First Apologies as I am still active in this group. I am continuing in this forum since I did not exit BCG fully and still continue to hold a sizeable number of BCG shares with the hopes of change in management would change the fortunes of the company since the underlying business is good.
I saw the letter that is circulating in Telegram group (addressed to investor cell). This still does not explain the missing 18 Crore shares from the promotors group. I have went as far back as Mar 2019 and the pledged shares at that point was 10 Crore shares. On 25th Jan 2022, total pledged shares by promotors is 2.3 crore shares. On 31st Mar 2021, pledged shares were 5.95 crore shares. No matter which one of these SHP you assumed to be true, it still does not explain 18 crore missing shares from promotors.
I feel those pledged shares have been sold (either by promoter or by the institution to which it was pledged to) and over the course Q1 FY23, promoters are buying them back from market through proxies just in time to have this in order by the time SHP for Q1 FY23 is due. Otherwise this explanation could have been given on 21st April when the SHP came out and the price destruction in the BCG share price could have been significantly reduced.
I have filed a scores complaint against the management for possible insider trading between Jan to Mar of 2022 with them holding a price sensitive information (regarding FA order from Sebi from Sep 2021), that the market was not aware until 28th Feb 2022. It is quite possible that management has not done it intentionally, but we the shareholders are paying the price and someone must be held accountable
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