yes…Titan’s Graham number 119 and as per my method its 143.
I strongly feel its over expensive.
PCJ in F&) banned list. lets see what happens tomorrow.
Ohh God in a interview to Bloomberg he told the person to whom shares were Gifted he is not an Family member. & now he is talking opposite.
Mera trust uthh gaya hai Market se.
Also seeing the Tone of this Anchor I feel this Panic was created delibrately cozzz might be someone bought Put options .
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earlier I burnt my fingers in EROS , Tree House and Shree Ganesh Jwellary and Now its PCJ.
Indian market is full of fraud companies.
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Every market has all kinds of Companies (even developed markets such as USA has it’s fair share of fraud Companies).
I hope your experience has taught you the type of Companies to avoid in future.
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Yes , I am learning regularly , their are good companies also which has compensated for my losses in long term. However as per behavioral finance , one who loses $100 will lose more satisfaction than gaining satisfaction from a $100 profit. I am going through same phase 
Investing is not a easy thing , No matter how much we try to avoid bad companies , their is no full proof method to completely eliminate them. What were looking as multi baggers few months back have now turned into losses. (e.g PCJ (holding since ipo) , Vakrangee etc , luckily I sold Vakrangee before sell off). and irony is we start analyzing corporate governance issues only once the stock price crashes, before that everything looks good.
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Easier said than practised. The comparison to the West is wrong because of our remedy process. Agreed there are frauds in the West, but the remedies are quick and investors know what really happened. Can anyone tell investors even after 10 years from now what really happened here? No, because there is no due remedy process.
Think one of the most important lesson in India is that do not hold mid-caps beyond a certain PE threshold. Goes above a decent PE sell and invest in a broad MF. Not worth holding in lust of millions.
I hold Cera since about Rs. 2100 and of late have been think, what is to say there is no fraud in there. They sell to real estate (the dirtiest business) and they trade at 45x. Even if a whiff comes out I will lose 3/4ths of my money.
One query I have , recently they hired Akshay kumar and twinkle for advt and it has also got a good response (atleast I liked the advt) , also as per thier disclosure they have opened 9 new showrooms in last 2 months.
So is this all a hoax ? if thier is something wrong in the company why they are spending on advt and hiring Film stars ? or opening new showrooms ? Is it just to paint a rosy picture in front of market fraternity or market has too over reacted. I am still not able to understand if thier is something seriously wrong or these is just over reaction in market due to gifting of shares.
I understand what an investor will go through during this phase of massive selling without clarity on what really happened and we are glued to news and forums to see if there is any new piece of information that gives us more clarity on what really happened(apart from Vakrange buying/selling, promoter gifting shares). I have 3% of my PF in PC Jewelers and decided to hold till Q4 results are out.
Rajeev
Yes , I was thinking on the same lines. Trying to recover some losses by doing some short selling. Lets wait till Q4 results. Hope their is no more surprises and should be on expected lines. Stock already touched 120 and trading around 8-9 PE currently.
What is still confusing me is who is selling?
Apart from the DII + FII + promoters, Others (retail + corporate) own 3.4cr shares. Since 25th April, 4.01cr shares have been delivered + plus maybe 1cr of today. This means that all retail investors have turned around their shares more than once now. IF the biggies had sold, we would have known.
I know this forum is not to spread rumours, but if I may. Looks like Vakrangee still have their shares of 20L at Rs. 516 and their is a cartel to trap them. If they have not sold till now, it is worth now 24crs. Loss of 80crs.
kindly check Gitanjali Gems. They hired most well-known film stars, spent on advertisements of most of its brands… Spending money on advertising or hiring film stars does not always mean that the business is doing good.
Disc: Not invested
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Yeah I agree with you but they have recently done this. Gitanjali was doing this since long time (they have hired Aishwarya , Kareena , Priyanka , deepkia and many more in last 8-10 years). But PCJ did this first time.
I mean to say if they knew that they have to made an exit (by gifting of shares) and their is some hidden problem. Why they will spend more on advt now and open 9 new showrooms as well. I don’t know what I am saying make sense or not but this is what confusing me.
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Gitanjali used to advertise too aggressively in magazines especially in Filmfare. Just spending on adds doesn’t mean business is good, and is going to expand topline.
Moreover any add spends goes to the companies balancesheet not from promotors pocket.
I haven’t seen such aggressive marketing spend in Titan
Your question is your answer. If I will want to exit, I will advertise more, show more growth (profitable or not) to extract more value. Growth as a number should not be trusted at the face value.
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Incorrect to compare Gitanjali and PCJ:
Gitanjali EBITDA 988cr - debt 9000cr - promoter share 31% - pledged 71%
PCJ EBITDA 855cr - debt 631r - promoter share 58% - pledged 0%
Easy to analyze post-facto, but there is no one who could have on 31st December 2107 said there is something wrong in PCJ. Yes PE were high but fake no.
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I am not saying that PCJ is fake or growth is fake. I am just saying increasing spending on advertising or hiring film stars does not indicate good financial health.
All these things doest not matter once u realized u cannot “TRUST” the management, as the price on screen saying this all since the last three months…
Think this way: When u r buying any stock, u r part of business. In doing business, u realized your partner is cheating, it does not matter at all how they are doing business…
To put it in very harsh words: How one can sleep (read as doing business) with someone, once known that they are cheating or trying to cheat behind u r back…
First Denial…then finding reasons defending the company… then more smoke comes out…then trying to find facts…then story becomes ugly…then acceptance…booking loss… and then…realization and lesson learned.
so if u smell or smoke any thing especially small or midcap companies, if u have higher allocation, which effects u r PF and returns, then just get out first, and try to do the above para/process to protect our gains.
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Yeah , lower debt to equiy ratio was the reason which made me hold this since IPO. Most of the other companies like TBZ , TARA Jewels , Gitanjali had huge debts.
“so if u smell or smoke any thing especially small or midcap companies, if u have higher allocation, which effects u r PF and returns, then just get out first, and try to do the above para/process to protect our gains.”
This sounds good to me. Will try to apply this in near future. Thanks
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