ValuePickr Forum

Sri Adhikari Brothers Television : From 300 to 30 odd levels

Recently found that Shares of Sri Adhikari Brothers Television (BSE Code : 530943) has crashed from levels of 303 its 52 week high in January 2017 to current levels of 32.80 its 52 week low.

The stock has been hitting daily lower circuits and i have been tracking it since quite some time…

Every day there are only sellers and a straight line lower circuit.

Since last two days i have noticed some buying in this script. Also noticed a block deal of 176434 shares on BSE yesterday.

Can experts suggest what is wrong with the counter…

Ironically read today that Gautam Adhikari, one of the promotes of the company died today.

Generally scrips bottom out after 80 - 90 % fall and then bounce back by around 30 - 40 % from those lows…

I feel a extreme RISK Taker Trader can enter around 30 levels for price appreciation to 40 - 45 levels.

Equity - 34.94 Crores
Face Value - Rs. 10
Book Value - Rs. 28.90

Promoter Holding - 30.45 % in September Qtr vs 45.77 % in June and earlier quarters…

Promoters have Pledged Shares …

Financial Institutions/ Banks hold 87,17,008 Shares (including Central Bank of India, PNB, SBI)

Company posted Net Loss in March and June Quarter.

But all this seems to be factored in the price.

Views invited…

About Company :

Sri Adhikari Brothers Group is a leading Indian M&E conglomerate with interests in Broadcast, films, content production and publishing. they currently boast of three listed entities

The Company which was started as a small family owned partnership firm by brothers Mr. Gautam Adhikari & Mr. Markand Adhikari in 1985 went on to become the first publicly- listed television production company in India when it was listed on the BSE in 1995.

Had noticed same in case of Videocon, Shilpi Cables and many other stocks…

Just happened to notice this news & hence pasting link here (as updated by @khushi above).

Discl: Not invested/ No views on the stock