NSEClarifications.pdf (35.6 KB)
Pathetic reply from Management. Complete disconnect between current price fall and clarification.
Still silence on why so many months delay on fixing record date.
I think this clarifies the fall
Subsequent to approval to the Scheme, the Resulting Company, Mandhana Retail Ventures Limited is in the process of signing a new contract with the Being Human - The Salman Khan Foundation, the specifics of which are under negotiation with them.
So the contract is being renegotiated.
Guys… does it remain a good buy at these levels?
I was tracking this stock from long and always wanted to buy it…
But two back to back 20% circuits disturbing me…
Any advice/suggestions would be appreciated
There were 15lakh sellers and only 40k delivery volume… what is the best price to buy ???
Guys…what is the take away from the IDBI Trustee letter attached herewith ?
Mandhana-IDBI Trustee.pdf (50.9 KB)
it is a fallen knife. wait for buying and clarification on news.
More shares have been pledged!!
Is the share down only due to demerger news…anyone aware what happening
- Salman Khan’s recent rape comment on women.
- Demerger uncertainty.
- Downgrade by care ratings.
A lot of negative news have come together making it into a snowball falling down the hill.
Only one question - Why would a customer choose “Being Human” merchandise over other big brands like - Van H, Arrow, Indian Tarrain, Peter England etc etc. As a individual I would not prefer wearing Being human merchandise for my office. I can only wear it casually when I am at home. In my understanding the scope for this product is very limited.
I believe otherwise, keeping in mind the fan following of Mr. Khan…potential is there. Till now to my perception it think that the "being Human"brand is being a part and parcel of Mr. Khan’s charitable initiative.
Even otherwise what happened so negative in the recent past that the business will be impacted so badly to loose nearly 60% of market cap.
Discl: Invested recently.
Does anyone know that if one were to buy shares in Mandhana industries today, will you get a piece of the retail pie (Being Human) or only the garmenting business?
When one buys Mandhana today, they will get a share of the retail business as well. Once the demerger happens (it has been announced and approved but not yet concluded in terms of share issuance), the owner of every share of Mandhana will get 2 shares (of every 3 shares) of the demerged entity and hence will continue to remain owner of the retail business.
The only catch is whether the retail business (primarily BEING HUMAN license) will continue or not is a big question with no clarity given by the management other than statements like it is under discussion with the Being Human Foundation.
People in the industry (Disclaimer - I am also from Apparel Retail Industry) has no clue on whats happening.
No updates from the company.
No updates about contract renewal.
Price keeps falling. Even the movie release didnt help.
I agree this stock was a bit overpriced to begin with but never expected it to go so low!
There are no buyers.
Looks like some corporate governance issue.
This is what I found if the company decide to demerge
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[http://economictimes.indiatimes.com/markets/stocks/news/mandhana-industries-without-being-human-retail-business-may-pose-a-few-risks-to-investors/articleshow/52859927.cms]
The way it is hitting lower circuits without volumes and now available at 272 crs MC and PE of 4.5, it seems that the market is apprehending that the books are all cooked up—la Satyam??
If not cooked up then Being Human is having around 37 crs NP in March 16, we are getting Being Human at a PE of 7.50 ( Ashapura Intimate is at around 45) and getting residual busiss free which has an EPS of 17.25.
So its all about the authenticity of the numbers.
the basic concern remains regarding the uncertainty of Being Human with Mandhana in future. It is clear that they are under negotiations, outcome of which is not known.
They are still opening newer stores.See my post in No. 34.
Disc: not invested as yet. Looking for clarity.