chris

Forum Replies Created

Viewing 20 posts - 1 through 20 (of 66 total)
  • Author
    Posts
  • in reply to: General Discussion #26357
    chris
    Registered Boarder

    Going through the report, this is biiig, Satyam level big, I am passed bisbelief and into the anger phase 😂. He had the audacity of forging bank statements and submitting to sebi, one of the most outrageous attempts.
    Media in uproar. Won’t get a chance to sell until single digits.

    in reply to: General Discussion #26351
    chris
    Registered Boarder

    Scathing report by SEBI, bank statements forged confirmed by banks.
    Skr and narayana raju banned from market.
    Sorry guys for being the bearer of bad news. We’ll be back in single digits soon.

    6+
    in reply to: General Discussion #26185
    chris
    Registered Boarder

    Lot of discussion regarding Tds not payed on dividend received by BCG, was going through the income tax site and found this :
    https://incometaxindia.gov.in/Pages/i-am/domestic-company.aspx?k=Dividend%20Distribution%20Tax
    TDS on dividend and DDT the same or different ?

    3+
    in reply to: General Discussion #26177
    chris
    Registered Boarder

    Good evening,
    Was going through the company notification on the sebi order, and the company has mentioned that this is related to a separate show cause notice received on 23/Nov/2022.
    The final order of the FA, SCN still pending ?, that’s how I understand it.

    Opinions please.

    7+
    in reply to: General Discussion #26034
    chris
    Registered Boarder
    in reply to: General Discussion #26012
    chris
    Registered Boarder

    One way to look at this is that sebi is forcing the company to improve corporate governance standards, and if no major fines or promoter bans are levied against promoter in the final order, skr has one chance to clean up all the issues in one shot.
    Provided he does not create new ones from here on.

    My (biased maybe) opinion : good chance for bcg to do a clean up, and likely getting ready for the next leg. Stock under control of operator, will not be a smooth ride like last time. Expecting a lot of profit booking for sure.

    in reply to: General Discussion #25992
    chris
    Registered Boarder

    Looking at how things played out last couple of months, I feel that the company was aware of the outcome of the audit. Suddenly, prior to the FA release they were talking of audited results of subsidiaries on the website, auditing of 80 % of subsidiary revenue.
    That got me wondering, why is SKR scared of releasing audited subsidiary results ?, either there is an obvious fraud which he is hiding or the business is true and he’s worried that it becomes a take over candidate at these levels.
    I personally think it’s the second, but unfortunately for him he’s been forced to publicise results now, with stock prices taking a nose dive.

    12+
    in reply to: General Discussion #25989
    chris
    Registered Boarder

    @whyshares yes what you are saying is absolutely true, but SEBI has not officially approved nor denied the business, it has clearly stated that as per their accounting revenues are valid, but also has said it hasn’t received audited results of all the subsidiaries. The revenue data of the standalone and subsidiaries (audited) results of the year 2022-2023, has to be approved by a separate auditor who has worked with a nifty 100 company. So if BCG follows the above said directions then I will take it as confirmation.
    One major positive is that, SEBI has not mentioned that the revenues are false or money has been siphoned off, but I would wait for the results to see if it is line with the projected revenues and profits.

    in reply to: General Discussion #25979
    chris
    Registered Boarder

    Let’s get something straight, enough of these bends, twists and turns.
    Skr and group have lost most if not all of their shares through pledge over six odd years between 2014-2020. According to skr/management they are saying the lenders have sold shares in open market, but have also admitted that they were aware of the same. So now question to be answered is if they can retrieve their shares through the legal route ?

    Now the SHP as of today is absolutely correct, and this has been picked up through the warrant route. What is true is, currently they do have 18 percent, but what will be the implication or fine or final judgement by SEBI for the management actions between 2014-2020 is what is going to define this short term volatility.

    in reply to: General Discussion #25943
    chris
    Registered Boarder

    There was a mention of this group in a call held by beatthestreet, where an individual was asking the moderator if this very group was mentioned in the audit.

    The moderator did a great job by saying information that is given out has to be assessed and investment has to be made accordingly, but I don’t understand this, this group has been active since 2016-2017, when share price has been crashing, what was shared was info regarding business, business model, corporate governance etc. there was a weird accusation at one time where LOGAN was accused of being SKR himself 😂.

    When times are good there is no mention of this group, when times are bad this group comes to the forefront and theories that the company in question uses this group to mainly trap the “innocent retailer”.

    Just ridiculous. But again the analysis done by beatthestreet was good mainly covering the interim order, with one guy Mayur talking about the business of brightcom and how to validate the alleged clients claimed by brightcom.

    in reply to: General Discussion #25930
    chris
    Registered Boarder

    Either way, from what I’ve understood sebi is claiming that the management has used asset write off in a way that PnL wasn’t affected, to show a rosy picture in order to dump promoter shares at a higher price and profit of it. Then issue warrants at a low price to regain promoter holding.

    From all this, what I have understood is that the promoter holding decline is the bigger question and problem.

    So as per the change in rule, regarding pledged promoter share declaration in October, 2019. Transfer of shares once pledged have to be removed from the promoter quota and this was the major non-compliance.

    Any other views please do share.

    8+
    in reply to: General Discussion #25919
    chris
    Registered Boarder

    @T9C @vkhare789 what the sebi report says is both, by painting a rosy picture through wrong accounting practices, SEBI is speculating that BGL management has knowingly brought down the price slowly (instead of a vertical fall) giving them time to exit.
    I got into BCG looking at the numbers, in my view ( biased ofcourse) SEBI has officially announced that the revenue is correct & has ordered BGL to disclose everything in terms of auditing subsidiaries, to shareholding issues, to disclosure of audited results of subsidiaries on the website( all that we have been requesting SKR for quite sometime now). So let us see what happens in the coming weeks.
    Not a hold, buy or sell opinion by any chance. WHAT IF revenues are true (20-21,21-22, 22-23) and bcg is a debt free company, how do things play out from here.
    Yes write off of assets were to BE shown in the P&L section 2018-2020 but that’s the past. How about now and the future ?

    DISCLOSURE : And yes I have nothing to lose my capital has been pulled out and I’m playing with my profit only. I guess you will not see a rally like 20-21 for sure. But look at the timing as well the stock has been brought to 5 percent trading range, is it to brace for a news like this? Just thinking out aloud. Too many questions that I don’t have answers to !!!

    in reply to: General Discussion #25901
    chris
    Registered Boarder

    @imposiblznuthin my brother had the same issue, sorted out today, delivery of the shares has been done today.

    Apparently, a 21 lakh lot was shorted on Friday, and since a ceiling was hit on the same day the trader could not square off.

    4+
    in reply to: General Discussion #25872
    chris
    Registered Boarder

    India bulls housing finance sells approx. 1,89,00,000 shares, does this have anything to do with the missing shares case of 5,6th December 2022? Looking like a one off sell.

    I saw the sale in the bulk deals section of stockedge, after it was shared on the telegram group.

    Delivery on the nse is higher than usual.

    in reply to: General Discussion #25870
    chris
    Registered Boarder

    I feel you, @logan, SKR had once said in one of the quarterly conference (2021) that long term investors stay with us till March 2023 we’ll sort out everything. Took it a little too seriously. Now back at the same price as to when he stated that.

    I think like someone said I got emotionally carried away, and let brightcom get very close and personal.

    Note to myself would be don’t get personal in investing in the future book profits and move on to the next.

    in reply to: General Discussion #25869
    chris
    Registered Boarder

    Is there any benefit in meeting with the management now, I don’t see him giving out any new information.SKR’s answers will be the same

    Promoter share : ongoing legal battle to recover shares

    FA timeline : not in my hands it’s under sebi

    Daum : I don’t know myself (no clue) but we will finish it this quarter, peshwa is incharge

    ROE : our main target is to improve ROE for our longterm investors, how “I don’t know “

    Company : doing very well we’ve had the best quarter so far and our best year.

    Dividend : I will think about it

    Buy back : I will not buy back, money collected through warrants is for Inorganically driven organic growth of the company

    Future plans : we are looking at AI & chatGPT will be working towards something similar (surprise) (last point is just for the purpose of humour) rest all points are his answers

    Corporate governance : we are working on it, released redacted audit reports and shared on website for all to see. If you want to see the entire report come to Hyderabad (and maybe we’ll treat you to some biryani and Irani chai).

    in reply to: General Discussion #25858
    chris
    Registered Boarder

    Maybe, if bcg has been kicked out of the smallcap index due fall in market cap, then yes surely, exit of the funds and fall would be justified. But has there been a review of the index ?

    1+
    in reply to: General Discussion #25856
    chris
    Registered Boarder

    More than 2 crore shares already absorbed at 13.30 levels on the nse. 80 lakhs still showing … either way, a bottom or 2020 levels coming soon.

    3+
    in reply to: General Discussion #25855
    chris
    Registered Boarder

    Such crazy volatility is becoming very hard to digest, testing conviction. Booking whatever profit left on the table. Let’s hope for the best !!!. Such crazy trading volumes cannot be by retailers. 20 percent circuit on the downside after a 90 percent fall : is it an indication of a negative FA outcome ?

    in reply to: General Discussion #25627
    chris
    Registered Boarder

    Well now it comes down to wait and watch, from what I could see the shares that have been allotted through first tranch of warrants have been silently distributed and the shareholding pattern has once again become very opaque. Have they been distributed to retailers, I don’t think so, with so much negativity in the counter retailers would definitely not pick up such huge numbers.
    In my search I have come across the microcap club(closed group) and Ian cassel. His tweets do throw some light on investments such as in brightcom, quality of management that you can expect, timelines, conviction so on and so forth.

Viewing 20 posts - 1 through 20 (of 66 total)