Vakrangee Concall for investors @2.30 today
Please share the number if possible.
Pl share call details for investors’ call.
M sry it’s only for a certain brokers clients not for all
If it is non-refundable, then why call it Deposit? A “Deposit” usually means that it is refundable in future.
For a moment, let us assume that the amount is non-refundable. Even then, the company is being aggressive in recognizing the entire amount as income. It should have recognized it as income over a period of say 3-5 years (depending on the average lifespan of a kendra). A similar situation is there in banks which charge an annual fee on credit cards. They recognize it as income over 1 year, if the fee is an annual fee. What is not recognized as income, in one financial year, is disclosed on the liability side of the balance sheet.
Yes, especially today…big block deal worth 107.76 cr… Could be super fast 50 cr profit, if this all turns out to be nothing. Unfortunately ordinary retailers cant play such games. I thought about doing a buy today (adding to my FOC), but then did not…
I am not getting why SEBI is not issuing any statement in this regards. Investors are losing their money. If Vakrangee is not involved in all these scam then sebi should issue statement. That will only stop LC in this script. SEBI is not saying anything … why ?? No one knows. If vakrangee is guilty than also SEBI should issue statement so that other investors stay away from the script and don’t lose more money.
There is never just one cockroach in the kitchen. When the Shilpi Cables issue came to light, in the initial days it was only dealt with as an overseas lender filing a petition against the company under the Insolvency and Bankruptcy code which the company claimed was a small amount. Then it was about lack of decorum or some such and board meetings getting postponed. Then the skeletons came tumbling out of the closet. So the price manipulation might just be the tip of the iceberg.
52 week low of Vakrangee is around 149 and 52 week high few days ago was 515 and current price is around 236.
Just a few another lower circuits and we will have new 52 week lows. Better to wait till then as no point catching a falling knife, especially like this one which is surrounded by all possible bad news.
Even other companies whose name gets associated with it, example PC Jewellers are getting punished.
I would prefer to wait for 100 or even lower levers before i get tempted to enter it as market currently offers many better abd quality stocks which have corrected in this midcap carnage and may correct a bit further. Examples like - Motilal Oswal, Edelwiss, Can Fin Homes, LIC Housing Finance, Bombay Dyieng, etc.
For everyone information.
https://indiankanoon.org/doc/1633031/ (More related to Brocker involved in Vakarangi manipulation of price)
In two separate orders, SEBI, exonerated Vakrangee Softwares along with its eight executives from the charges, saying ‘there is no history of any irregularity or indulgence of any violation’ by the these entities
Mumbai: Market regulator Securities and Exchange Board of India (SEBI) has dropped charges against Vakrangee Softwares and its eight executives, related to violations of insider trading norms, reports PTI.
In two separate orders, SEBI, exonerated Vakrangee Softwares (VSL) along with its eight executives from the charges, saying “there is no history of any irregularity or indulgence of any violation” by the these entities.
The regulator has dropped charges against company’s compliance officer, Pratik Bhanushali, its Finance Head Prem Meiwal and six directors- Dinesh Nandwana, NK Hayatnagarkar, Ramesh M Joshi, Anil Patodia, Sunil Agarwal, BL Meena and BK Gupta.
SEBI in its probe had found that Meiwal had sold significant quantities of VSL’s shares prior to the announcement of results for the quarter ended March 2009.
During the quarter ended 31 March 2009 VSL incurred a loss of Rs29.72 crore compared to a profit of Rs4.03 crore made by the company in the quarter ended 31 December 2008 due to write off of certain IT assets.
However, the investigation could not conclusively establish that Meiwal has traded while in possession of unpublished price sensitive information (UPSI) related to the company.
SEBI’s probe had revealed that Bhanushali failed to implement the code of conduct in order to prevent insider trading and six directors had failed in supervision and ensuring that the required compliance with regard to the code.
Besides, it was also alleged that VSL has wrongly disclosed Prem Meiwal and Nishikant Hayantnagarkar as promoters of the company during March 2008 to September 2009, for misleading the investors.
“VSL has also failed to frame, adopt and enforce the code of internal procedures and conduct as near thereto the model code of conduct without diluting it in any manner and ensure the compliance of the same,” SEBI had found.
The above are three judgements which I got from SEBI+Vakrangee on Google. If I go through these judgements, I find the company is serious only about market capitalisation then business and for small period, they did achieve superior market cap. However, sustaining that market value is different game altogether in my opinion.
Discl: No investment but interested in developments.
Con call audio available at http://www.vakrangee.in/recording-conference.php
Vakrangee claiming that all big stack holders are with them and non of them exited completely. The price correction is due to combination of rumors and profit booking due to high valuation (PE 71). Few stack holders are buying more !
Surprising - MD & CEO does not want to take legal action against Mumbai Mirror as he does not want to get more in controversial. However, company wrote to SEBI and Times of Group against defaming company. However, he want to discuss what action to be taken against this news paper in upcoming board meeting
Vakrangee was at PE more than 70 and got corrected for profit booking with rumors and overall down fall market correction.
Even the best managed company Motilal Oswal Financial corrected more than 30% in sentimental down fall!
It corrected 50 % only because it had circuit. Else it would have gone in gutter.
The audio is very interesting. Whoever is yet to decide, can make a quick decision now.
It is surprising as to how many people are talking about vakrangee in this forum.Lot of folks have invested looking at the highs the scrip has been making for so many years.Even now some people are talking about bottom fishing in this counter. Believe me -it is a complete rot.Scrip has been manipulated for many years. It is not easy to nab cheats.I think this chor company’s time has come.Unfortunately the current market sentiment is not helping.
There was always something seriously off about this company.
Was price manipulated by those few stock holders? Something similar is written in Mumbai Mirror article:
Disclaimer: Sold most of it in November. Owning very little to keep watching.
Hi, I read one article in ET, why buffets buy and forget strategy will not work in India. It had few reasons which was not very scientific, typical of popular ET articles ! However , what I personally felt was few things that doesnot allow Indian companies to be real long term bets , I mean multi decades bets, say 30-40 years wealth creators are
- LACK OF GLOBAL AMBITION
- LACK OF INNOVATION
- DEFINITE LACK OF ETHICS
Last point is something that happens on and off…I am not able to recollect cases but see Kitex, Eros, Kaveri, Vakrangee etc…buy hold drumbeat on roe, roce, call it compounding machine or whatever but all fizzles out when you know it was all cooked up !!! I am personally sad at the sorry state of affairs.
Disc: Not invested.
Absolutely agree.there r only few groups which r ethical.in fact, I have seen wrong doings in top management in some Tata group and itc too in 90s bringing my shares to zero value and we suffered.so buy and forget does not appear to be true for India.
I went to this link to find nearest vakrangee kendra from vakrangee official site
To my shock this kendra (first one)was located on 3rd floor in residential society. I still went ahead and knocked the door. I asked if there is such a kendra here. There was a family inside and one gentleman told me that they have stopped vakrangee thingy long ago.
Exact words : (“We stopped it long ago”). I could not ask further as it became very awkward. I said thank you and went away. Anyway, it was revealed that this is not viable and sustainable.
- Out of 45K List How many kendras are functional?
- Was company projected growth only due to non refundable deposits that is collected from such people?
- What is the closing rate of these kendras?
Edit : Disclosure : Have two shares as a tracking position.