[odysee]

Thank you @ Logan. Your response and views are truly appreciated.
I wonder if Mr Reddy and his team do bother to read all these posts on this forum and get a sense of the sentiments and views expressed.
He should understand that we all are loyal supporters of him and BCG, and have stayed steadfast in our beliefs and goodwill over the last few frustrating years.
Testing our patience and resilience is bearable up to a point but surely even he understands the concept of overkill.
My sincere advice ( although biased being a minority shareholder) to him is to now fulfil his promises in the shortest possible time, come what may, and restore the respect and credibility that he has enjoyed, thus far, from this currently miserable and disgruntled lot on Brightcom investors’ forum.
Far too long he has raised our hopes and expectations on timelines, but he has always left a tiny wriggle room for himself.
Enough! Being too clever by half is not a suit that Mr Reddy should ever don or aspire for.

[VALUEBUYER001]

Thanks Logan sir for taking pains to write in detail to clear doubts

[lycos.rags.to.riches]

Yes @logan need of the hour is good corporate standards. I assume that is one of main reason why market is not rating BCG appropriately. All companies have outstanding issues, loan, cashflow problem but how the investors are not kept in the dark. BCG is a multinational company, revenues and profits reported are equivalent to large multinational company but the corporate standards make it look like a local IT training company.
Even with all the pending issues the stock should be in the range of 20’s, i forgot when BCG was in double digits for more than a month.
Simple things like resignation of pisipati was not informed to the investors,thanks to linkedin, nclt website else many things would remain blackbox.

[Logan]

@lycos-rags-to-riches, you are right. The good thing is the management has improved a lot in corporate governance these days (especially 6-9 months). They knew many people didn’t understand the business properly so they started sharing information about the business, clients, BCG’s products etc.

Now they have to improve on timing and communicating through mails. They are sharing everything with the investors via exchanges but they should concentrate on replying to investors mail.

I don’t know what agreement BCG and Axis have made and we all know how greedy the banks can get (personal experience) so I understand why the CEO doesn’t want to pay 3 times the amount that was agreed upon. For the delay in payments there should be a penalty but asking 3 times the amount seems bad on Axis part and also freezing the money is not good.

The company can’t give details on this because there’ll be negotiations on the amount to be paid and they can’t disclose anything to investors because lawyers of Axis Bank will look at it and they’ll use it against the company in the courts so the company has to be as subtle as possible while communicating (sometimes even small details will cause big troubles).

[VALUEBUYER001]

Ots should be paid and settled with certain conditions if they don’t pay within stipulated time the company has to pay original amount . It is like an offer for s specific period

[tanv151]

@valuebuyer001 Rightly said. This case is unlike Daum, who did not disclose the accurate details to BCG and tried to take more money than lycos deal deserved then. In case of Axis, it was a loan taken and the borrower is obligated to repay the money.

We all know only defaulters claim OTS and a common reason given is ‘I/we don’t have any money to repay the loan’. Correct me if I am wrong.

All the business have been going through tough times due to this pandemic and banks are no exception to this. I believe they have the right to demand their money back especially when the opposite party did not honour the previous agreement, on top of it they know BCG has money now.

In my view, paying few extra crores may seem like not so good step but it will have positive impact in the long run. SKR should get this resolved without dragging any further in a hope that Axis will give some concession. With US elections right around the corner, any money BCG can get released after paying Axis will be of good use.

[odysee]

@tanvi51, I may not fully agree with your viewpoint. An OTS, if agreed to between a bank and a defaulting borrower, would play itself out as per agreed terms and conditions. If certain instalments have been paid by the borrower in line with the OTS agreement, but if a delay occurs at the time of the final instalment, the OTS does not become null and void, with the original outstanding amount resurrected, and the payments made thus far under the OTS becoming normal repayments of the original outstanding. The courts wouldn’t have agreed to hear the respondent’s ( BCG) views at all in that situation. It is another matter that BCG should have honoured its commitment when due. After all, SBI and Canara Bank were settled in a similar vein.

[tanv151]

@odysee I am not contesting the amount to be paid, which is why I did not mention any amount. What I am trying to convey is, if I defaulted on a loan twice (may seem like a willful default) I better be ready to pay a penalty. But the issue is BCG is not countering the petition completely and only have being buying time, way more than needed. This is certainly denting the reputation and the momentum we had. This is my personal view.

[VALUEBUYER001]

Logan sir Ots is like an offer of discount of say 25% on dues if you pay in September, if you pay in October you loose the discount of 25% and liable to pay full dues

[jmathew]

Dears, is there any kind of well-planned price manipulation going on? If we look into the June shp, 51 percentage is with top 13 investors/groups (including NRI, bodies, and cooperates). This is without oak holding during that time. Also, from May to June the number of retail investors increased from around 30 K to 41 K but the percentage of the holding decreased from 4.7cr to 4.3 Cr. Please share your views.

[jmathew]

Logan Sir, can you please share your view on the below points?
1.Even though promotors plus top 13 investors/groups hold around 90 percent of the stock why BCG is still trading below 1 p/e.
2.Is there someone controlling the price, as they want to corner more shares before some biggies or DII enter?
3. On the last couple of notification, we have noticed CS signature, any specific reason for it?
4. Retail investors have increased by more than 25 percent but total holding decreased by 5 percentage any specific reason for this.

Note: I entered BCG when it was trading at 19 and my average buying price is rs 6 now. I very much believe BCG will find its fair value in the coming months but the current price action is a big concern.

[VALUEBUYER001]

Thanks Logan sir for your detailed information and prompt reply

[admin]

In today’s world when everyone are so busy and have no time to listen to others. And here we have @Logan who not only listens but gives detailed responses which is utmost satisfying to not only to the person who originally asked but others as well.

Last two weeks was very harrowing time for me. As you know I am working in IT industry for the past 13+ years, I was in the bench (unallocated from billing project) from two months unable to get into a new project as the interviews are too hard due to frequent technological changes happening. HR began to pressurize me to resign voluntarily and threatened with instant termination without any benefits nor experience certificate if I do not agree. I escalated to senior leadership that harassing at this pandemic time is unethical and asked to show empathy. Though I did not get much respite even after that, I have now requested them to terminate with two months notice as per the agreements in the appointment letter. Sorry for airing my personal problem, but the context is it feels nice to know if somebody is there who listens.

[hw_tw]

@admin – Not sure which tech stack you are working on. If possible please do share your resume. I am assuming you will have my mail id. Let me see if there is some fitment in our organization.

[sagraa]

@Admin, Please share your CV , I would try in.my organization.

[VALUEBUYER001]

Dear Admin Ji, I am working in a bank and feel sorry that I am not able to help you. I will pray Almighty to give a more rewarding career yo you and also I shall get in touch with you if I get to know about any openings through any of my friends.in which city you are residing? Wish you good luck. Please don’t worry sir.God will help through someone for your good deeds like maintaining this forum for the benefit of small retailers

[Optimus Prime 06]

Results posted in bse
Eps 2 rs
Concall 12th sep 11 am IST
NET PROFIT 101 CRORE

[Raveendra]

Hello ,

Can someone post the conference call dial numbers please?

[VALUEBUYER001]

Raveendra Ji the company will upload conference call contact numbers in company website itself in a day or two

[Rathi_b]

The market performance today will be influenced by nifty levels and anyways it has become a ritual for shorters to short brightcom after the quarterly results, so please beware that the price or sentiment of this stock will be muted for the next week atleast.

[Author]

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