#coolbuddy
Whether Amazon falls or not is immaterial.
What stands out is the fall in price from Rs600 to Rs130 continuously,no response from management, no response from institutional investors who have stake,the resignation in early April of Company secretary, the resignation a few months back of one of the independent directors,the charges by ex auditor against the CFO(though it relates to another co,you cannot ignore his role),the redrawing of past years accounts by Deloitte,the resignation by CFO,the sale by CEO of which I havenât seen any notice to Stock exchanges though listing agreement requires itâam I missing something.The list is long.Surely this is not normal or will not happen to Amazon.
Surely the growth will be more than 40%( caveat- unless the auditor reveals something unknown.)
In all this for survival there is going to be dilution when some investor enters.All things being equal if you as shareholder were getting 65,% of Rs100 profit last year,you will get much less next year.Is it going to be 50% or 40%or 30% is the question which will determine the price.If a Google or Amazon or TCS were to be the stategic investor,it will go one way to Rs800-1000.Anything can happen in future.
Finally I didnât say âfallenâ but someone in the industry said.
Update on BSE site for Suresh venketachari shareholdingâŚ
Finally the much awaited clarification. He sticks to his words that he is not selling any shares ! However , why everything bad keeps happening to this company only I wonder ?! 
Something fishy going on. Todayâs bulk deals show that Kirit Gogri sold 1,59,000 shares. Searching Quantum Global Securities shows that Kirit is/was associated with Quantum.
Kirit was not associated with quantum ⌠he was with Quant Broking ! Two are different companies with different promoters altogether !
Why such things happens to such companies only. Did not few monthly back some broker sold kwality promoter shares . Market is intelligent enough.
I agree but market had not priced this in ! The free fall was due to various other reasons ! This is something completely new for which the market reaction to stock price is yet to be seen.
Two ( note two not one)broking firms sell.What quantity they sold.Not known.Was it after June30 when shareholding Pattern was disclosed.?
25 lac shares transferred and Adroit the share transfer agent did not know till September middle that SVs shares were coming for transfer.Unbelievable.
GHS associates, the auditor accuses CFO of forgery.
The auditor Deloitte mentions of âinadvertentâ errors in account classification .
The CEO accuses two sharebrokers of illegal transfer of his shares.
The co declared Rs7 dividend and revises it to Rs1 and CFO sells his shares in the interim period.The company pleads ignorance of laws.
The company couldnât finalise its accounts on time as it did not anticipate time required for complying with new laws.
Too much of coincidence?Will they use this alibi for the fall in share price and delay in results?
Something cooking.
Police complaint on Sept 12 and disclosure one month later⌠ofcourse they will issue another disclosure that it was a typo in the earlier letter and they meant Oct 12 
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After coming across this forum an year back, I have been an avid reader of all the discussions going on in all the threads. The postings of senior members like Hiteshji, Capsule 91, Phreak and all the others have been extremely useful to me to wade through the landmines of the stock market. The help which accrued to me was not spotting of multibaggers, but the knowledge to avoid or dump stocks having corporate governance or poor management perception issues. I greatly acknowledge my deep indebtedness to all forum members for your invaluable service. Perception about the management of 8k miles has taken a huge beating. I donât know the nitty-gritty of their finances. But one thing is for sure. Companies whose managements take their share holders on a ride are not given the right valuation even in the next bull market. Reliance capital is an example. Likewise in this stock too, there have been warnings by senior members of corporate governance issues involving this management. Those who bailed out at the first inkling of this knowledge stood to gain, but those who exhibited false bravado has suffered the pain. It looks pretty doubtful that even if everything turns out well, this stock will retain its past glory. l once again express my deep gratitude to all senior members who takes their valuable time to guide novices like me in remote district of Kerala like Idukki.
Feeling sad for promoters, somebody ran away with their money.
A very good company, doing could what all traditional indian companies missed has to see this day.
I hope now promoters bounce back. Future is still very bright in cloud computing as many other pointed out in this thread.
Letâs hope for the best.
a simple common sense triangulation that I had used and warned people here. it needed only a preliminary check on linkedin to see how many people work in all the companies working in 8k miles and triangulate it to a productivity metric and see how it compares with the rest of the industry. The answer would be self-evident. This is something I use along with statutory dues like EPF, professional tax to triangulate the number of employees and if the claimed productivity makes sense.
i leave it to the discerning to figure out what it translates to and the results and understand the probabilities of such numbers in real life.
Whenever you have a doubt about the number of the company, triangulate it with other metrices - productivity, statutory payments, EPF, tax paid etc. and lots of times the answers stare in your face.
You wrote a similar peice on Take solutions a few months back on that board.I referred that to the CFO and she said this is not a conclusive method of comparing the labour cost with productivity,matrixing with statutory dues like ESI/ PF etc because when a substantial work is out sourced or got done by temps these do not work and she told me your note there only cast doubt but nothing beyond it.In fact each of the questions that you raised there she answered satisfactorily with figures.There is an analyst meet on 31Oct in Mumbai and you will get the answers to all the questions on Take solutions.I do not know if there is an analyst call and if it is there you can raise it.
Everyweek the RTA sends to the company a weekly list of shares sold and bought by various members.Did the company not see it?Even otherwise the RTA would have alerted that shares of SV are being sold.It is beyond my comprehension as to how such a big transfer went unnoticed for weeks.Even otherwise the company should have informed SEs on the day they came to know of it and also shared this with members in the AGMThere is something deeply disturbing with the conduct and now apart from a police case, SEBI is bound to step in to contain the damage and protect shareholders.
Is this a prelude to something more shocking?.
I wanted to comment on the credibility of the disclosure that the promoterâs child-like innocence led to shares that were âwrongfully and illegally transferred through Off Market transactions on various dates to various parties without his knowledge/consent.â The letter states these shares numbering 25,70,000 were held in various demat accounts with two brokers, acting as DPs, who committed this act.
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If these shares were transferred they have to be done by filling in the prescribed delivery instruction slips that have to be signed by the owner of the shares, in this case Mr SV, on both, the client copy and Depository Participant copy, much like signing a cheque with the name of the shares, quantity, ISIN number of the scrip, name / DP and Client Id of the transferee & date of execution.
If he signed them how can he not know what he was signing on? Maybe, you could argue, he handed over a signed but blank DP slip to the two brokers. Which means he gave them something like a signed blank cheque. The only other option is that his signatures were forged?
Now, if he signed a blank DP slip then he cannot say it was done without his knowledge and consent!
If his signatures were forged he would mention that upfront as charges, as any genuinely aggrieved party would, but instead he says âwrongfulâ and âillegalâ. I mean if someone uses my cheque book and forges my signature to take my money out, I am not going to say someone did something âwrongfulâ and âillegalâ. I am just going to say that someone âforgedâ, just like GHG Associatesâ auditor did. There is no mention of forgery in the disclosure. Instead some weak and untenable charges like wrongful!
Most likely he gave blank signed DP slips to his brokers. Why? I will come to my hunch later. -
These shares were transferred â⌠without his knowledge/consent.â
Anyone who has transferred shares via such slips would get (a) a phone call from the back office of the broker (probably recorded) to the owner seeking confirmation before the transfer (b) an SMS message from NSDL / CDSL stating that xxxx shares have been debited from his demat account, soon after market hours ( c ) a demat transaction statement from the broker within 24 hours of the transfer and (d) a statement, end of the month from CDSL / NSDL. He would have thus either, given confirmation of the transfer over the phone, or got an SMS / email at the registered mobile number / email address. Anyone in the market knows we have extremely foolproof and robust systems that cannot offer refuge to such excuses.
It is thus highly improbable that he was not aware of these transfers or done without his knowledge. -
These transfers were done on ââŚon various datesâŚâ
If these were done without his knowledge/consent, then he had an opportunity to stop it on the first date itself, but no, they continued for many days. These transfers were done on âvarious datesâ and thus there would have been a barrage of statements / mails / phone calls on or around all these dates! He thus had multiple opportunities to stop such transactions that were according to him âwrongful / illegalâ but they werenât stopped.
This further strengthens the case that his claim (of transfer of 8.42% of outstanding shares were done without his knowledge / consent) has little credibility. -
The statement says ââŚto various partiesâŚâ
If they were done without his knowledge / consent, how did he know how many parties they were transferred to? The best he could say is that âthey were transferred out of my accountâ. But he says they were transferredâŚto âvarious partiesâ. How did he know that there was more than one party for such transfer? The book Spy the Lie talks about the âtruth in the lieâ as an indicator of deceptive behaviour, and there seems one here! -
The statement says, "âŚtransferred through Off Market transactions⌠"
If they were done without his knowledge / consent, how did he know that they were Off Market transactions and not market transactions? He can at best know that there were transfers of some shares out of his demat account. Again there seems to be a betrayal of the âtruth in the lieâ
Further doing an Off Market transaction is tax inefficient at first glance. Why would anyone buy non STT paid shares via an Off Market transaction knowing he cannot get the benefit of lower taxes in capital gains? Which means the buyer / beneficiary of these shares is not treating these shares for capital gains. Most likely as a settlement item on his Balance Sheet (for eg recovery of loan via appropriating collateral). -
The Company knew of the share sale as early as 01 October 2018 but kept mum till 12 October. It knew on 01 October because SV filed a report of pledge to the company, which discloses the total shares he holds - 1,44,59,533, less by 25,70,000 from end of June. Thus the Compliance Officer (funnily enough he also signed the pledge report) knew on October 1 of this sale but did not report it till October 12, a clear violation of Insider Trading regulations which require reporting within 2 trading days by the Promoter/Compliance Officer.
My hunch is that these shares were in effect offered as collateral for loans availed by way of signing and giving blank DP slips to the lender, which were subsequently invoked by the lender upon certain breach (most likely price). These loans are in substance share pledges, though not in form, giving the added benefit of avoiding any declaration to the banks (Indian Bank and IFCI) / exchanges.
Anyone in this thread ,investor or part of DSP Mutual Fund?..Want to know the conviction behind DSP Mutual Fund if they are still holding it⌠Attached latest factsheet ,but I could not find 8k miles in the factsheetâŚCan some one please check factsheet again dspim-factsheet_august2018.pdf (1.6 MB)
They still do, but now divided under two schemes:
- DSP equity opportunities fund on page 9
- DSP Small cap fund on page 13
Earlier the entire holding was with DSP Micro cap fund, which is now renamed as DSP Small cap fund (page 13).
Makes so much sense ! I am certain that he mustâve taken a loan from Quantum ,on which either he failed to repay multiple interest and/or principal ⌠Or failed to M2M the loan pledge of shares due to falling stock price ! After which the lender (quantum) is left with no choice but to offload !