CFO resigns
Posts tagged Value Pickr
Is Suzlon a turnaround story after FY16 (18-06-2024)
The company seems to have handled their crisis communications as well as could be possible. They did a investors concall where they repeatedly stressed the governance issues were related to best practices around communication and unrelated to operational and financial issues.
Quoting from the transcript: "Well, I’m repeating that. I said, I’m reconfirming to you with no uncertainty, the points what he has put down to the Chairman are related to the process improvement and the transparency. I’m reiterating once again that there is absolutely and absolutely nothing about financial irregularities or non-compliance of any law or any requirements of this. "
Link to transcript: https://www.bseindia.com/xml-data/corpfiling/AttachHis/be1984b7-22b5-4c9d-b096-77da2bcf399c.pdf
They followed that up with a company statement last weekend: "Further to our disclosure dated 8th June 2024 regarding resignation of one of our independent directors, i.e. Mr. Marc Desaedeleer, we wish to inform you that at the request of the Chairman of the Company (i.e. Mr. Vinod Tanti), the Chairman of the Audit Committee (i.e. Mr. Gautam Doshi) has agreed to take up the responsibility of evaluating suggestions on corporate governance practices of the Company. In this regard, the Chairman of the Audit Committee has decided to appoint Khaitan & Co, an eminent law firm in India, to conduct a review. To further aid the process, certain additional advisors may be appointed as required from time to time. "
Link to statement: https://www.bseindia.com/xml-data/corpfiling/AttachHis/88342726-758e-4081-ae6a-dbcfa4e84730.pdf
My interpretation - this is certainly messy and something I would have liked to avoid as an investor. However the lack of detail in the resignation letter is also a concern for me. The management team should have given more specifics in their investors concall as well.
Disclosure: Invested.
Sterling Tools (STL): Fasteners & EV MCUs (18-06-2024)
Does the company manufacture all the sub part of MCUs or just imports them and assemble it inhouse?
Rajesh’s portfolio (18-06-2024)
Hi @jayeshjabuvani … thanks for the research here …Did u find out how come there are only 9 employees? seems v concerning …
Indiabulls Housing – A compounder from here? (18-06-2024)
Here is a filing regarding Allotment of Equity Shares to exercise of stock options under ESOP. Can someone shed some light on how it will affect the existing shareholders or minority shareholders of Indiabulls Housing Finance Ltd? Should the management seek rewards other than stock options? Why not just increase the pay or does the ESOP add skin in the game for the employees/stakeholders?
They have issued approximately 35.8 lakh shares to employees as ESOP. After allotment the number of shares of the company is approximately 49.60 + 24.62 crore shares. This amounts to approximately .5% of total shares outstanding.
Following is the calculation for your reference:
In [24]: 3579035 / (496032064 + 246226515)
Out[24]: 0.004821816953361209
In [25]: _ * 100
Out[25]: 0.4821816953361209
_
Smallcap momentum portfolio (18-06-2024)
Thanks so much for your views. Much appreciated. Will make a small case and begin my journey.
Regards, Sandeep.
Gulf oil demerger (18-06-2024)
Stock price rose 12% in last 5 days with good volume. Could not find any triggers or updates. Does the market know something?
Smallcap momentum portfolio (18-06-2024)
@Sandeep_Mehta1 I will give below my opinion.
- If you believe in the India growth story, you should go ahead and invest.
- The best time to invest was yesterday, next best time is today.
- You should always be happy with market touching All Time Highs. If the market did not continuously make highs, there is no way the Sensex that started at 100 (in 1979) would reach 77,300 today.
- We should afraid of the lows and not the highs.
- We are very nimble in our rebalance and hence if any stock (s) is falling, we can come out and enter into the new ones.
CreditAccess Grameen: Traditional MFI model, efficiently operating at scale (18-06-2024)
Their projection till FY 28 is strong as given earlier for FY 25. They have met the guidance for last FY. Basis their track record, I fell the CAG will meet its guidance. Price correction, probably, is an opportunity to add.
Disc: Invested. Added small quantity recently during the correction