Auditors do not come to know or don,t come out till the last moment.see vakrangee, so many members HV bn shouting from rooftops, shares falling for last few months but now only auditors seem to be doubting their accounts and their response seem inadequate.what were they doing till date?
Given that we are entering the end game of PCJ, I took a stab at what can go wrong on 25th May. Scenarios:
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Assuming exports are inflated double, it will not hit EPS by much as PBT is only 108.2 or about Rs1.9 of EPS (taxed at 30%). If true, expect exports numbers to fall substantially on 25th.
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Receivables are non-existent as exports are inflated. This will mean they write-off receivables. Liquidity situation but survivable if inventories and cash are real.
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Inventories are fake and written-off on 25th. Bad news. Will expect banks to ask back for payables and on demand debt. Stock to tumble, promoters to pledged stock to survive. Insolvency proceedings?
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Cash is non-existent. Same situation as 3. Plus it is the cash which is holding up the declining liquidity situation.
Any views on how this can pan out is welcome.
Disc: Invested.
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If Fidelity could err - we are ordinary mortals.
Hi Suraj,
From where could you find out about FMR selling the stock , if it FMR website ?
Hi Gneop84,
Not FMR website, I looked at disclosures , Did some Base calculations based on the Statements in Interviews (e.g. Balram Told selling of about 1 Lakh shares)
Btw, FMR have further reduced their Holding⌠Now by a total of 2.54 %
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Its available on BSE website
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38 % up from yesterdays closing and 65-70% up from yesterdaysâ lows of 95-96⌠God knows what is going on in this stock.
Yesterday, someone was mentioning in the twitter that they gonna have analyst/investor call yesterday evening. Not sure and I couldnât verify the claim though.
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Only thing is if everything comes out good on 25th with no surprises at all. Then no reason for this stock to trade at 10x earnings. Very good chance of going back to 17-18x if not 30x it was getting before. I see 2017E EPS of 15.81 and 2018E EPS of 19.49.
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Can any senior boarder decipher pcj and the reasons for such a positive move in the last 2 days?Itâs beyond my understanding
Added today in morning
4% of pf
Now 5.5%of pf
All stores are real
My friend is a chartered accountant and he says 99% of jewellery companies cook books,as long as they donât overcook and burn the entire bread ,Itâs not a bad investment
PCJ is the second largest player in India
From personal experience I can say undoubtedly their jewellery design is very classy
If the books are cooked will lose 10-100%
But if not a major fraud then I guess I have caught a good candidate for rerating and then a compounder with good dividend yield
With GST ,organised sector will get a boost
All Intraday players latched on to thisâŚNSE delivery volumes is 9.9% today out of 18cr shares traded 1.8 taken deliveryâŚwe have to see once it comes out of FNO ban
But the delivery percentage is around 10% since last 1 week
Whether itâs going up or down delivery Percentage is same
Real que is about undiagnosed fraud (yes or no)
Till that time share price will be like a high swing pendulum
No one knows except the management regarding whatâs happening inside
Daal mein kala hain ya poori daal kaali hain or is it a delicious dal fry
PCJ prepones buyback meeting to the 10th of May. Get your popcorns ready on Monday.
Disc:Invested
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There is a lot to learn, from the comments in this thread, about how news and views change based on the price movement RATHER than the other way round!
If you read the comments before the Thursday afternoon then ALL of them were negative in nature. That is when the price was falling as if there was no bottom.
And since Friday the comments have turned either neutral or positive following the increase in stock price.
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Can someone in this forum validate of purchases made in Pc Jewellers by yourself or your nearest kith and kin friends neighbours or collegues relatives and so forth and update about your experience in their store? It would be greatly helpful for the valuepickr community if such scuttlebutt can be done and reported to our forum members.
Sometime back motilal oswal introduced Me gold ie Demat gold holding which can also be physically delivered to the customer. In that presentation motilal oswal mentioned that the Demat purchase of the gold can be used across the Pc Jewellers stores.
Disc not invested but nailbitting and waiting. And sorry for bad vocabulary.
Itâs the bull market talking. Similar things are happening in threads of amazing companies like D Mart as well. Makes me wonder how different will the forum be when we are in a bear market. All efforts and intelligence might be solely devoted to negative aspects unlike how it is today.
Not everyone was writing negative while price was going down, I had been always positive on PCJ, it had been a roller coaster ride last week, tribled quantity at lowest levels around 100, main logic behind picking stocks were zero pledge, low debt, mamooth expansion, positive end customer reviews on websites. Market cap to sales becoming less than 1, constant promotor assurance about things going fine. Fidelity exit doesnât matter to me as these are big corporate & once decision taken to quit they will quit, someone had information of fidelity quitting hence made a killing in F&O, now loosers will be retailers only who shorted stock, itâs a good value buy
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Very true!
Most of the members here are now day traders. They speculate and discuss about momentum of stock price.
This is a great place to learn and discuss fundamentals and the business. Let us all keep it that way.