PC Jewellers

(sameer80) #641

[quote=“manivannan.g, post:639, topic:297”]
New entrant wellington trust sold recently in july and may be retailers are also selling in panic in july.

(manivannan.g) #642

Could you pls point me to the source ? In both NSE/BSE bulk deals, I couldn’t see wellington name.

(manivannan.g) #643

This “relative-gift-disposal” saga is not something new for PCJ. The relatives selling in off-market too ?!! Definitely in the name of relative promoters did.

(LTInvestor) #644

Maybe biased as I am invested, but really do not see anything negative in the shareholding report. Disposal by promoters of 1.05cr which has already been disclosed. No other disposals since then.

Most importantly, no pledging. If the cash on B/S is actually false, which in effect means the sales are also fake, the company would have had to start pledging shares to post collateral for debt. Much of the debt is ST for WC, which would have been called by bankers by now.

My sense is fundamentally nothing wrong. Lots of insider trading but nothing much on fundamentals.

(neopandit) #645

I am happy to see that the major sellers are FPIs. They have their own carry trades reversed so they must sell. Their selling can take the price down without any doubts on the management or biz. Your analysis on the pledging logic is on the spot - good insight. thanks, regards,

(vikas sinha) #646

Exactly, DIIs is up. Yes, FIIs is down from 30% to 20%, as expected with Fidelitiy etc news. Promoter is reduced about 2% indeed. Retail share increases by 2x from, 6% to 20%.

(sameer80) #647


(neopandit) #648

Thanks @sameer80 for pointing out Well mgmt as reported in bulk deals is same as Wellington on SHP … I knew about Well bulk deal the other day but still could not connect it when I saw this new entrant. Thanks, regards,

(manivannan.g) #649

Thanks, surprisingly none of the exchange has this info. Weird !!

(sameer80) #650

Most Welcome, NRI holding increases 0.13 to 0.53%, Big investors holding also increases from 1.13 to 3.12%, most important promoter holding intact and if cash in banks also intact then recent downfall may be covered in no time.

(Growth_without Debt) #651

Why promoters acquired shares inform of ESOPS…what good they did to eligible for ESOPS…selling in market and acnquiring through ESOPS!!

As PCJ is in Midcap index its performance will depend on index performance instead company performance. If index emotion turns positive pcj will go up. If u see delivery % it’s pure trading stock. Who knows trading well can play safe here

(yudiagg) #652

HA HA HA. These guys are truly law abiding ! Disclosure after 3 months ? What does one do ! Hold or buy or sell ?


(aswin) #653

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(neopandit) #654

Indeed !! They are following the law only in letter and not in spirit. Some call them fools and some call them fraud. Here is a funny/ interesting quote from the movie “The Big Short”.

Jared Vennett: Tell me the difference between stupid and illegal and I’ll have my wife’s brother arrested.

(ranviraaj) #655

My observation based on June SHP: Look at the number of Individual share holders from 67236 to 181243 ~~2.7 times and number of shares held by them from 91,23,214 to 4,81,20,279 ~~ 5.27 times. Looks like retail investors are studying value investing or are they entering into value traps…??..

Out of 40,80,217 shares held by “The Wellington Trust Company National Association Multiple Common Trust Funds Trust Emerging Markets Local Equity Portfolio” (how can they have such a big name"), 37,45,651 shares sold in a bulk deal by them at 85.43 on 17 July.

Total number of outstanding shares increased by 112800 and Padam chand gupta reduced stake by almost 1 cr share (may be again by gift) …those almost1 cr shares are now part of public shareholders. (May be from family relatives)…

Disclosure: Invested…

(neopandit) #656

@ranviraaj (1) Perhaps you are comparing June ending SHP with March ending SHP. The latest numbers of promoter holding (post gift of 1Cr3L shares) is disclosed in postal ballot notice. The promoter holding as per the June end SHP is same as their holding as per the postal ballot notice. In short, there is only one instance of 1Cr 3L shares gifted and not two. (2) The 112800 shares could be ESOPs. (3) Hard to say value investing or value trap before the Q1 results. What I like is the biggest sellers are the FPIs and they are running away because of carry trade unwinding. So, post SHP chances have favored the new investors. Q1 results will give the final verdict.

@hnk_so The ESOPs are offered to employs and not to promoters. Promoter holding in PCJ is constant since the postal ballot notice was issued post the gift of 1Cr 3L shares.


(Growth_without Debt) #657

Definitely it will be (Q1 result) excellent as promoters also know that this is final chance to upgrade stock price…let’s see how they manage Q1 result and balance sheet.

(skhanbir) #658

When are the Q1 results ?

(Growth_without Debt) #659

Did anyone attend AGM which was on 14th July?
Kindly update about your feedback from the AGM?

(neopandit) #660

On 14th meeting was to disclose voting results on the buy back. This became invalid due to cancellation of the buyback itself the day before. It was thus reported to BSE too. Still I see a lot of messages about AGM on 14th July. I do not know where this was (erroneously) reported. I may be wrong here,

@skhanbir Date for Q1 results is not declared as of now.