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Sorry the telegram group does not allow forwarding or copying any of the messages posted on it.
So the gist is SKR calls the investor (who I think called previously and was maybe rude to the person answering the phone at the bcg office) and tells him that the bcg office is not equipped to take in a load of 3 lakh investor calls and that’s the reason they were unable to respond. He assured him that they would set up a mechanism to deal with this in a weeks time.
He requests the investor to stop spreading unnecessary negativity and panic, he assures him that everything is fine and there is no problem at all. There is a chat about the zeebusiness coverage of bcg.
Finally, the investor asks about the SHP and promoter holding to which SKR says that he will explain about it in due course and nothing is wrong, quarterly results and concall he be held as per schedule.5+
There is a recording of SKR in a telegram group (v2w), where he is trying to clarify to an investor regarding bonus and SHP.
In summary, what he’s saying is that there’s nothing wrong we’re having issue after the CS (Manohar) has resigned but he is still helping me as a consultant.
Bonus will be credited by 19’th of this month and subsequently all doubts regarding the SHP will be clarified and explained.
Couldn’t share the clip as the telegram group does not allow to either copy or forward.
Here’s the link if anybody is interested …6+
As per the notification released, full payment of the subscribed preferrantial issue was done according to the dates mentioned, before the record date. The delay/issue has been listing of these shares on the exchanges before final allotment of bonus shares (my understanding of the press release)
Suresh reddy’s tweet “ do expect more updates from us in subsequent days “, sounds interesting.
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
Some confusion regarding the SHP, actual shares of both SKR and Vijay Kancharla have been reduced to a fraction.
Waiting for a clarification from the exchanges or company regarding the same.5+
@brightspot, irrespective of whether YSR is in or out, he will be held equally responsible if the FA goes south(again my assumption), since SEBI is scrutinising finances during his tenure.
Has the audit been completed after which he is resigning, a theory which I feel is in support of the large deals today.
Again just to make it absolutely clear I have no proof or evidence of either theories, just a thought process trying to understand the intimation given by the company. Either way this week should be crucial.
As a follow up question, what is really interesting is the volume traded today and the NUMBER OF LARGE DEALS. Can it be taken as a sign of a positive FA outcome or is it just my biased (invested) outlook!!!
Your views on it please !!!3+
This roller coaster ride has been unbelievable, I’ve been invested in brightcom since 2015.
I’ve been reading this comment for a while now “conviction cannot be borrowed !!! ”, I have understood the true meaning after experiencing the ongoing drama of SEBI audit.
A big shout out to this forum and all the participants. Thank you so much again !!!
On the other hand if the audit had started on the 16th of September itself, I feel there is a positive side in this as well, SKR (although will be categorised as bad corporate governance) has spared us six months of trauma and then the sebi report should be out anytime soon as I believe such audits take about 6 months To a year !!!!
Hoping for the best, forever an optimist 😂
The thing is the letter by sebi and the commentary by the company definitely do leave room for some imagination.
My take would be, company received letter regarding need for “forensic audit of consolidated financial statement with special focus on asset impairment” on the 16th September from Sebi.
As per the company, they shared concerned papers and documents to contest/convince sebi that audit was unnecessary as the asset impairment was as per GDPR norms.
SEBI confirms that the audit is necessary on the 25th Feb and exchanges were intimated of the same on the 28th of February.
To avoid this confusion if the company had also shared the communication that it had received on the 25th of February then there would be some closure.6+
@whyshares that would definitely affect the overall sentiment that’s been built around the share (my opinion), if you are implying that the management has willingly agreed to this.
My opinion NO because none of these questions were new, they have been answered again and again in a lot of con calls so many times that it is exhausting to even listen to the same question. A similar opinion was aired by an anchor in a Telugu news channel who invited SKR after the acquisition of mediamint and apologised publicly. The ignorance and arrogance of holding a Mike on a platform CNBC tv 18, isn’t new.
Firstly, Wisdom tree holdings show as ybrant digital so I guess they’ve been holding for ages now. But thank you so much for sharing.
Secondly, regarding the MSCI holdings, the data shows “as of November 30th” and Im assuming that they must have bought within the last month. So do you guys think that they might increase their holding this month?, and how significant is this news?, can we expect new funds entering in the near future.
Thank you in advance !!! As always indebted to this group
Mr. Akshath Srivastav had tweeted saying that “stay away from BCG, promoter holding reduced” sometime last week and of course there was a backlash and a lot of people tried to correct him. He didn’t like it so came out with this video.
His main argument being “ there is NO news or No significant improvement in business to support price rise”. But unfortunately he conveniently forgot to mention that a company having 700-800 crore profit in March/2021 was trading at a market cap of 250 crore.
So you can call my view biased because I’m invested in the stock, I will call Mr. Akshath’s view biased because he got a spanking on Twitter 😂.
@explorer, my journey has been similar, although I did find the stock through my own research this group was the guiding light during the dark hours of 2018,2019,2020. If not for this group it would have been extremely difficult to stay invested. So a big shout to all my brothers at brightcominvestorsforum and special thank you to Logan and admin sab.
Received an email regarding the videoconference tomorrow for the EGM 11:00 am
Attachments:2+chrisRegistered BoarderTopic Author
I have this gut feeling that there is something brewing in this share script. Firstly promoter increases stake all through last year. They come out with this new website, where there is mention of this new vertical of FMCG (reading coming soon), but unfortunately no announcement or news of the same.
Then if you look at the client list for the textile vertical you have macy’s, H&M, IKEA and so many international brands , looking at the chemicals vertical it is a major producer of sulphuric acid with client list including luminous, exide and others. Then there is paper and energy as well.
Fundamentally looks decent and I can visualise a growth in the business and valuation in the near future.
Downside for me is huge equity of nearly 500 crore, although good promoter holding of 72 percent. In the month of May there was announcement of a 500 cr cash generation with further equity dilution.
Thoughts please !!!3+
This information was on the StockEdge app, does anybody know anything about this ?