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Yes Ravi Kaillas has certainly believed in the value of the company at a much higher price. I don't think he needs or wants dividends. This is about his third entrepreneurial venture and I understand he has been very successful before. Further, they don't have the distributable reserves unless they do some jiggery pokery like a capital reduction scheme - which would be very odd. They are still in build phase and need to retain or raise capital. I think once they hit 2GW they will become more or less self financing and can think about dividends.
Chief executive owns 57% and he paid more than double this price on some of his buys so would he would be pushing for divi
I don't think it is currency. This is an INR based company reporting in USD. Since the Brexit vote it has appreciated quite a bit in Sterling terms. I doubt a dividend for a couple of years. The fall remains a mystery. There does appear to be a seller. It is always difficult to work out a seller's motivation e.g. they may simply need the money for other things.
Is this decline to do with the currency drop, in India looking at the buy v sells, there is no massive difference if anything more buy than sell, news has been good, making money and growing, so only other thing is currency, and even that isn't that bad. Is there shortage of shares about, just can't work out why so low, why a year low, all time low. Am I missing something here, has to be re-rated in the next 3 months and would imagine divided on the cards
Yes, Shaxe, getting utterly fed up with these automatic trades continuing to lower the price. At some point, I am sure we will get a major turn round. At this rate, if one is brave enough to buy now, you could be looking at a 100% rise in the SP over the next 2 months with results expected to be announced by the end of February. At present, it looks as if the SP movement is being caused by computer trading. I don't understand all these 500 and 1000 sells; someone appears to be offloading a lot of shares, but for what reason given the Bod's recent confident update?
How many groups of 500 and 1000 sells? Those results can't come round quick enough as I hate seeing this drop consistently whilst still believing it will come back up, my positivity is turning into blind optimism! Might need to get some paid rampers in, um...... great time to buy, gonna boom soon, don't want to miss the boat. I feel dirty writing that even with my tongue firmly wedged in my cheek!
Year end results - end Feb/early March.
What's the next date/bit of news where we can see some movement of the share price?
Just wonder whether the trade at 14.17 today was in fact a purchase. I know that based on the bid and offer quoted at the time it is shown as a sale, but with what appear to be purchases later in the afternoon at 33p, surely that quantity of shares - £19,701 worth - would not have been dealt at such a relatively good price. What do others think?
Just wonder whether the trade at 14.17 today was in fact a purchase. I know that based on the bid and offer quoted at the time it is shown as a sale, but with what appear to be purchases later in the afternoon at 33p, surely that quantity of shares - £19,701 worth - would not have been dealt at such a relatively good price. What do others think?
Love your boardname! and welcome. There were a number of trades today all buys at 33.74 yet the ask ended at 33.50 apparently. Almost looks as if the mms want to bring the SP lower again. Really, they could have left the ask at 33.75 or 34.00! Perhaps, they are looking for more buyers and have stock on their hands?
Been following this for a while and pitched in here with my first tentative buy (2500 at 33.74p). seems to be a decent picture here and still not sure why the price keeps dropping. Made a couple of bob on OPG, in the Indian energy market, too, (although that SP not doing too well despite announcing maiden divi) so looking for the next one....... GLA GLA
I wonder if anything will come of it, certainly did seem a bit strange at the time....
Jarus - good for you. If buying continues one would expect mms to run out of stock soon and then we should see a rebound in the SP. But agree that what's happened does smack of manipulation.
I have reported to relevant authorities the irregularities in the trading price of this company..market makers...be prepared..for bringing the price to collapse and not adjusting with the hundreds of thousands of buys...small investors shouldn't have to put up with this crap..
Having held on to the shares I bought at 49.5p, the current SP seems just too good value to miss. I am conscious of the effect of the strong dollar on earnings, but they have coped with that for some time. It is worth re-reading the interim report given in September, which was very encouraging and nothing seems to have happened to change that view, as confirmed by the recent RNS. I have just added some £9K worth over 4 trades. With the low having been about 42p before the recent sell-off, even if it only retraces to that level, there is a 20 -25% possible profit here.
Three large buys and share price remains the same.....last week a few sales and the price went crashing...mmmmmm..very dodgy mms.....they should really get investigated and reported...
Well there we have it, a trading update from the company saying everything is still going to plan. i.e. this recent decline is nothing to do with them. Lets see what today brings then, hopefully the start of the climb back to where we were two weeks ago!
I have followed many AiM stocks for quite a few years (rarely investing it has to be said) but this is one of the oddest drops I have ever seen. As you say HY1 results were not that great but largely predictable (I had hoped for a bit better but not by much). However, given the timing of the monsoon (and upgrades in capacity) the real action is in HY2. The monsoon is at least skewed two thirds to the second half. In the first half they made about $2m absent refinancing costs (plus the large bonuses they paid themselves for refinancing). My guess is $10-15m for the second half. Next year perhaps $20-30m for the whole year. Compare that to the current market cap.
Well. More promising than the last week anyway! Maybe time for a recovery. Still, have no idea what is going on, must be missing something! The financial results weren't great, but neither were they that much of a shock.
Well that 100k buy seems to have halted the slide, so will it creep back to where it should be or is it just a pause downwards? Guess we will find out next week!
100k buy at close, someone obviously liked the price, will that halt the slide? Doesn't seem a big enough value to me, but I remain forever hopeful!
Yeah, wish I got in at low 30's rather than mid 40's!
I actually rang the broker/Nomad (Investec) yesterday to enquire as to what is going on and whether we can expect some disastrous announcement. They intimated no announcement and were rather phlegmatic. They noted a seller in the market (self-evident). I would be rather more worried if there was a lot of volume but this is getting rather silly. Surely we are in a false market (?) and some sort of announcement should be made. Anyway for better or worse I am holding and I would suggest for those willing to take a risk this is a very decent entry price (that I wish I had gone in on). Not a recommendation, DYOR etc.
As to your second question about legality, um, this is AIM, not sure anything like that applies!!