PC Jewellers


(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 ?

https://www.bseindia.com/xml-data/corpfiling/AttachLive/93E471CC_ABEC_45ED_A225_2552D502D8CF_190603.pdf


(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.

regards,


(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.


(Growth_without Debt) #661

PC Jeweller jumps 20% after clients take huge F&O positions


(ranviraaj) #662


(ranviraaj) #663

Clarification asked by Nse


(LTInvestor) #664

Looks like my observation on pledged shares were on cue. Without any pledged shares, the cash on books looks genuine which in effect means sales were true, hence EPS of Rs. 13 stands. Stock trades at 6x PE. Good buy + plus stock allows you to protect using puts. One of the best asymmetric bets in the market currently.


(vikas sinha) #665

And the reply from PCJ to NSE, in response to the clarifications sought.

https://www.moneycontrol.com/stocks/reports/pc-jeweller-limited-12035521.html


(neopandit) #666

Thanks for sharing the reply. Henceforth, this stock (like most other things these days) will be subject more to faith than confidence. If the bankers would have objected on day 1 still the promoters would have hidden it and continued to plead with the bankers till the time was appropriate for them to declare that bankers are saying no. I am invested around 121 (adjusted for trading profits) and looking for an exit even at a small loss. I do not want to invest in a company where I have to continuously look over my shoulder. I will let go of the very lucrative IV on the options. It is there for a reason. regards,


(vikas sinha) #667

Welcome! The screenshot shared by ranviraaj about NSE seeking clarifications already mentioned, in the last line, about the reply from PCJ. Maybe this is what panic does. Rest was easy!

We are a low-trust economy, very inefficient that way, with boxed-in thinking patterns. No Business wants to go bust, or lose money, risk lives and reputations for some gains. Even Gitanjali and NiMo could have paid back loans (gotten in whichever way, but hopefully mostly employed in business activities), but when you completely disrupt a business, they did not even have a single chance. Well, the govt would just have shrugged and run the printing presses for few more hours that night and voila! cash…recap etc…order some pakodas and tea, for the party :stuck_out_tongue_winking_eye:


(VALUE2017) #668

As per clarification submitted by the company :

“THE COMPANY HAS A CONSORTIUM LOAN AGREEMENT WITH ITS LENDER AND AS A PART OF LOAN COVENANTS, THE CONSENT OF LEAD BANK IS REQUIRED FOR ANY CHANGE IN CAPITAL STRUCTURE”.

  • Was the company not aware of loan covenants before declaring buy back.

  • Why the company had not obtained NOC before declaring buyback.

I do not know how can a management be so casual in declaring buybacks.
Retail Investors might have lost a lot due to the casualness of management.

Disclosure : Not invested , but earned a lot of experience by tracking this company.
Would continue to track but not invest.(In this market learning is more valuable then earning)