Bigger mystery Porinju buying 6.6 Lac shares on NSE…
Remember as per new articles, Porinju also bought DS Kulkarni Developers when the company was close to going bankrupt…So he likes to gamble sometimes…
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LIAR…he/his PMS did buy…why is he lying?
- trading for fun?
- gambling?
- book etc?
Maybe he does plan to keep buying.
source = Manpasand Beverages Ltd. Bulk and Block deals on NSE and BSE
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For the past one year, I was seeing Mango Sip having inventory(Mostly the 1.2 L 1+1 free offer) in Big bazaar, Thane. They had also started keeping a narrow shelf presence for Fruits Up.
Also, I was seeing different SKUs in certain railway stalls on Mumbai platforms.
After the GST fraud announcement, the big bazaar stock has not been renewed.
Though, just yesterday I saw a railway stall on Dadar platform (in Mumbai) have Mango Sip SKUs and the guy said they are regularly stocking it.
Don’t know what to make out of this. Maybe it’s just the stuck up inventory that the distributors are trying to clear?
They have big contract with railways
Of course they have a contract with IRCTC. Was just pointing out that sales are still there even after the GST/other issues coming out.
Maybe other members can check with shops or other stock points to verify if the stocking is happening at the retailer level still?
A bit harsh on the IRCTC biz, I have only seen Mango-sip in sleeper class near Bareilly at temperatures of 40, maybe was served once in a Rajdhani. In Premium train sitting in AC and being served pre-paid food/drinks which vendor will make money selling beverages?
These IRCTC contracts are not cheap to get.
Manpasand is on the verge of suspension of trading and subsequently delisting. Fellow members I am a retail investor stuck in this company at higher level and would like to ask a question . As per books company is having some value not much debt, in case of liquidation after clearing all debts , if anything left do retail investors going to get anything. what is the procedure?
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Discovered another hostile takeover attempt by Finquest made in 2015. The company survived the attempt and has made a turnaround looks like.
Latest results:
https://www.screener.in/company/504076/consolidated/
AR:
What is the future for Manpasand if they are de-listed… What will happen to those stocks with investors?
On a lighter note one could get physical shares of these companies as a reminder of the fraud. Someday it would have a collectible value else it would be junk. Many businesses in India are floated to convert black to white and folks fall for it. I think the IPO bankers have managed to escape scrutiny in this case.
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If the company really is in bad condition and does get liquidated, you would still get the residual (last person in line) terminal value. This should be the book value, the price point at which most shares bounce around when the going gets bad.
If it still continues to run, you still get your entitlements, dividends etc. As WB says “buy for value, not caring if markets shut down for next 5-10 years”. Here the company has been forced to withdraw from the market. That itself could be strong reason to question the “value” in it, but if not then why be bothered. Something like diamonds are forever quote from a respected banker of Yes Bank infamy.
Disc: not entirely serious but mostly factual.
PS: I hear off-market transaction facilitators do exist other than our fine exchanges if you would change your mind and liquidate the diamonds.
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Manpasand is still trading normally.
Their response to BSE about delay in meeting listing norms:
Unaudited results for the Quarter & Half Year ending September 2019:
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Q3 Fy20 results:
Sales = 0 Cr
PAT = -26 Cr.
Excess management pay reversed by shareholders (with thin margin!).
Maybe they can use the money to pay fines to SEBI/exchanges.
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If anyone have the pdf report kindly share. The link is not working
Please share at satishmohite17240@gmail.com
