General Discussion

Viewing 20 posts - 4,901 through 4,920 (of 5,403 total)
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  • #25748
    akkithegrt
    Registered Boarder

    spread the word on all the bcg groups
    Wakeup @suresh_66

    by night it should be trending,lets give it a try

    7+
    #25749
    akkithegrt
    Registered Boarder

    March SHP uploaded but not opening @vgsatwork can you check please.

    3+
    #25750
    radhutheoptimist
    Registered Boarder

    Logan ji…. Let’s take one step at a time. Right now form a retail investors association. It takes just 12 members to form an association. We can form one and you have all the respect from the group members and others to initiate such things. And we can legally handle this.

    #25751
    Sumeshnair2005
    Registered Boarder

    Dear akki it was put in BSE but was not opening now it has been taken off. Hopefully thy shud rectify and upload again and hope there is good news

    #25752
    vgsatwork
    Registered Boarder

    Follow up to my previous msg on Promotor share holding post system driven disclosure w.r.t Sarita CommoSales transaction..

    Today this particular report is not showing up in SDD SAST Promoter reports.

    Same w.r.t Kalpana Commosales transaction that was showing in NSE.

    It appears that these reports are removed by exchanges.

    Big relief…

    #25753
    vgsatwork
    Registered Boarder

    @akkithegreat

    I could not see any SHP updates in exchanges. May be it was uploaded and deleted immediately. I am assuming that it could be because of some obvious typo mistakes. We have already seen quite a few instances where management before sending a notification does not do sanity checking and often typos shows up.

    Hope later tonight or early tomorrow morning we might see an updated SHP. That would help calm the the selling pressure in the counter.

    #25754
    Brightspot
    Registered Boarder

    by mistake they have uploaded September 2022 “New SHP September 2022 declared” and later removed , u can see suzlon old SHP even now also

    3+
    #25755
    tanv151
    Registered Boarder

    @vgsatwork

    I can still see the Kalpana & Sarita’s transaction on NSE PIT and BSE SAST respectively.

    To all,

    It is really painful to see how our investment value declining rapidly. Thanks to the management that is not willing to even accept of falling share price on the shareholders, let alone taking any actions to arrest it or solve the outstanding issues. Is it time for us to take some concrete steps (whatever we can) as the management doesn’t seem to take any responsibility. I like @radhutheoptimist suggestion of forming an association, and I am in.

    About requesting SS to become a BOD to represent us is worth giving a shot. However, I strongly feel we should have a plan b too. I request everyone to pitch in and give suggestions. It’s high time we all came together to make some collective efforts to safeguard our investment, whatever is left.

    #25757
    Brightspot
    Registered Boarder

    Guys Retweet and add comment to below tweet, let it trend by evening
    #ChaloHyderabad yatra to save investors of brightcom
    @BrightcomGroup @suresh_66 @peshwaacharya

    #25758
    Logan
    Registered Boarder

    @tanv151, @rathi_b and Hyderabad team,

    What could be the reason for taking so much time to close the Lycos deal? In conference calls he says that there’s no issue but do you sense there’s something in it?

    Do you sense it is like the Axis Bank case where they kept on wasting the court’s time and told us that it was almost done (for months) and closed it only when the judge told them (ordered actually) not to waste their time?

    Lycos is old technology and there’s nothing exciting about it but closing it would mean the company gets a good image because the legal matter will also go away.

    If you don’t mind and if you’re okay with it, please ask him whether he’s serious about the company’s image (and valuation) when you visit next time.

    (Let us all ask him this question in the conference calls)

    #25759
    radhutheoptimist
    Registered Boarder

    I feel we have to ask SKR to step down from CEO as he failed miserably to safeguard investors interest and there are very high possibility of him using his position to control the share price to his personal benefits.

    I am not sure how suitable former TATA executive Mr. Nilendu Narayan Chakraborty who was appointed as a director of BCG sometimes back to fit in CEO position.

    Bottom-line is investors must insist on ousting SKR from BCG.

    #25761
    vkhare789
    Registered Boarder

    I am also in to be a part of this association.

    What are steps to fire existing CEO and appoint a new one? Company is built by long term shareholders. Our hard earned wealth is getting eroded by crappy management. We really need to unite and take action to change management else our remaining wealth will also go in dust.

    #25762
    akkithegrt
    Registered Boarder

    Hello All,

    @logan request you to take lead of the association.Guys be fast,once we form association we can go to shankar sharma may be for suggestions.

    Yes i agree with many,CEO should step down and should take care of operations in business.

    We need to act fast now,already it is too late,stock price is almost 90 percent down from 52 weeks high.

    Guys act fast.

    #25763
    akkithegrt
    Registered Boarder

    The time has come to fire up all investors. Every day, the stock market makes 52-week lows as if there is no tomorrow.

    Firstly, I don’t understand why the hell the stock price has fallen so much. Even a penny stock with no revenue sustains a better level of fall than this.

    We cannot wait for the forensic audit, as we don’t know the exact timeline. Even after outstanding financials, the stock price is behaving like it is going into insolvency.

    We need to be clear with the CEO: we don’t want an entertainment package, we are damn serious this time, and if you cannot solve past issues, please step down.

    This group should generate fire rather than write messages and get frustrated. We need to act. This time, SKR has crossed limits, and we have to ignite fire in the minds of investors.

    If the stock price cannot go up or sustain at least a reasonable valuation during its best performance, when the hell will the stock be valued at 30 PE during its bad time?

    Guys, we have to act, and then something will happen.

    #25764
    Nikhilraj
    Registered Boarder

    Yes Logan sir kindly be the captain of this movement .
    If we are not taking any action against the negligence towards us ,what is the use of a connected community ?
    All members this is a do or die situation it is individuals responsibility act sensibly rather than creating stories and blah blah blah discussions …
    The 7K member telegram group is a utter waste in taking any action in favour of retailers.

    #25765
    buffet
    Registered Boarder

    @logan and fellow investors

    I support association formation & ready to contribute financially as well.

    #25766
    ved
    Registered Boarder

    In my humble opinion, before taking any step, lets request SKR for a meeting. The only two agendas of the meeting should be
    1. Why there has been no concrete step taken by the management after the value has eroded by more than 80%. Is he not concerned about the image/positioning of Brightcom in the public?
    2. What is the plan for closing the pending issues and how much time will they take.
    If we do not get satisfactory answers to these, I am in favor to pursue any legal step that the association may deem necessary.

    #25767
    Rising Sun
    Registered Boarder

    Hello Everyone,
    I may be wrong but my understanding is that the prices are down or have been kept down due to the mystery 18% promoter shareholding which was pledged, with some financial company or brokers. Hence the liquidity and resulting volume of shares. Why has the management not taken back the shares from the brokers? The pledge was for a very small fraction of shares.
    If this mystery is solved then, hopefully we will get all the answers.

    #25769
    kmr003
    Registered Boarder

    I have drafted the change.org/petitions, Please let me know any corrections

    About Company

    Brightcom Group (BSE: 532368 , NSE : BCG ) is a public listed company , leading global provider of comprehensive online or digital marketing services, has over 20+ years of experience also included in NSE 500 list, ISIN Code INE425B01027
    As per company published results Brightcom group is financially sound with last year Sales of 5,020 Cr, net profit of 912 Cr and net cash flow of 618 Cr, Total Assets of 7,030 Cr .
    We trusted on SEBI, and we assume all published results, SEBI has close watch on accounting frauds.
    As per published records BCG is growing at faster rate than other listed IT companies over last few years, We group of long term investors invested in BCG at various stages, starting from 2 Rs to 120 Rs, We believed in growth of company.

    About Concerns from retail investors

    BCG price has given negative return of 80-89 % over past 2 years, We believe market will have corrections, but we feel BCG management attitude and carelessness is main reason for this, not addressing investors concerns are the main reason for this major fall.
    1. Management never follows corporate governance (CG), breaching CG is common for BCG, few are
    dividends credit, bonus credit, publishing results on time, AGM on time
    2. In Conference call CEO will promise few action items- but it will never be done on time
    3. Few legacy issues like DAUM, loan, appointment of CFO, CS company is dragged and still dragging in few, but CEO will give false promise of resolving in weeks / months.
    4. Currently Company accounting books under SEBI’s forensic audit, but this was published even after 4 months of notice from SEBI.
    5.Compnay has raised funds to acquisitions. it took almost 1.5 years to publish name of acquisitions. later it got cancelled and converted into joint venture.

    What changes we need, This is need of hour

    1. To Change the CEO of Company, currently Mr Suresh Kumar Reddy,
    We have huge respect on him, in terms of growth of company, business and product development, but not right person for public listed company, Mr Suresh Kumar Reddy failed to implement every Corporate governance actions, to name long list.

    Hire reputed CEO, who has proven experience to handle the situation.

    2. Appointment of one board of director from retail investors side,
    there are 4 lakh retail investors active

    #25770
    Rising Sun
    Registered Boarder

    There are some key questions also relating to the funds which the company holds in its subsidiaries:
    1) Why they don’t earn interest by investing in short term money market funds. The interest rates are so high across the globe.
    2) Can the company not just submit a certified bank statement showing the bank balance across subsidiaries?
    3) Why will the LLP’s sell their shares, if the same doesn’t need to be acquired by another party on the other side. I am sure all the LLP selling is as per planning done by SKR. Because they have themselves acquired stake by buying LLP’s.
    4) Why has the management not got back the pledged shares back as yet? When will they get it back? Who can sleep well if 18% of their stake is sold by brokers/financing companies to whom you have pledged.

    Regarding the cashflows:
    1) Considering the growth of 40% in the past 1 year, the estimated cashflows of 250 crores should have also increased. But the same is not evident since the past 2 quarters.
    2) Earlier once the company had presented a Debtors statement, and mentioned that 100% of the receivables are valid and no provisioning was required.
    3) No discussions are being done on the cashflows part since the past 2 quarter conference calls.
    4) If I am not wrong, they had recently reported 1200 crores cash balance (Quarter ending September 2022) + around 100 crores in quarter ending December 2022. Management also said the current quarter cashflows will be high to include the cashflows of the previous quarter too. May be we will have cashflows of around 400-500 crores. This all will take the total balance to around 1800 crores.

    Please correct me, if I am thinking on the wrong side. Of course all this is valid, if the company has real business, and SKR has control over the funds at subsidiaries.

    Lastly, I would like to mention my understanding on the price fall:
    1) Nobody believes in the cash balance reported by the management.
    2) LLP’s selling shares – which has brought down the price.
    3) Investors loosing confidence, and hence no buyers when the prices fall down.
    4) I sincerely doubt retail investors are doing this volume.

    Whatever is happening is known to the management, and their close people. This is for sure.

    We just need one answer:
    When will the pledged shares come back to promoters holding?

Viewing 20 posts - 4,901 through 4,920 (of 5,403 total)
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