Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Paddy, I’m intrigued to know what makes you think the share price is good value? That’s like suggesting purplebricks is good value. You really can’t compare the business today with what it used to be.
Manz, your comment shows complete naivete & a mindset clearly unsuited to investing! Every LSE board is 100% hearsay. These are opinion boards that is all. The only facts we have to go by are the official RNS releases from the company. These have all been largely positive recently IMO. This share doesn't give me sleepless nights. A well researched investment never should. The SP performance here has of course been disappointing but sentiment will change. It always does at some stage. Noone ever knows where the bottom price is. We may be there now.It may go lower. We just don't know! If you think this is dropping to 60p, why are you even interested in it at all then? Maybe best to look at other investments or putting your money in a high interest building society account! GL
@Manz
60?? Based on what?
Back up your analysis or stop talking nonsense!
For those with ducks in a row, maybe take the black swan event as a load of quack.
Why 60? Why not 40 or 20? What kind of analyse has got you to 60 mate?
Seems to be a lot of hearsay on this forum as of late. Can see Paddyboy is posting more and more each day, hope your right in everything you say but i think there is a element of desperation kicking in reading your posts. But then if I had six figures in this as you claim I'd be having sleepless nights? Certainly something is brewing that will be announced. Wouldn't surprise me if this hits 60p because as many have said the market does not like us and we have no chance of a rebound until that changes. Only way is down for the next couple of years.
I personally think the Investment Banks are the ones behind tbis ...although their overall NET short is below the 0.5% figure they have been hedging more of their long holdings with short positions, on this one...
The Investment banks are the big daily traders and even the Market Makers so they have the power and influence to move markets...
They are supposed to compete against each other and it is illegal if they act collectively to move prices.....but one does wonder sometimes
We got a Q1 trading update mid April, how many times do people need telling that everything is fine? Personally I think the board are managing the business well, coming out of a lock down and I will continue to add. This is a great opportunity for me and I’m happy to accumulate at these prices. Of course there’s risk but that’s the natural of the beast. With AI there’s risk everywhere, but I’m pretty sure Spain will still have bus services when I retire… and I hope to be using them lol
Where there is pain there is gain! Big gain depending on your pain tolerance!
In October Nex was 170+; MKS was 91p. You've been around a while. The markets are fickle. This will change you know that!
Paddyboy
I think investors deserve at the very least a TU inbetween the Oct update and FY in March, even just to say on track, etc.
Regarding M&S, well they're maintaining their profit forecast, announced reinstatement of dividends fir HY in November, reduced debt etc etc.
I thought the City would react similarly when NEX announced their 5p, it did initially for 1 day, and now look where we are.
You have to ask yourself why the market reacts positively to m&s and so negatively to NEX.
I'm sure it's nothing major but the markets are definitely not behind us yet.
JG, you're getting desperate seeking answers from ADVFN board!
JG if there is nothing for the BOD to tell us that is that. We have no reason to think that the company is in trouble & just because a SP is low doesn't necessarily mean that either. How can MKS be worth twice now what they were 6 months ago? Just SP being played with that's all!
In addition there's a poster on the other board that is coming accross like he has close links with the Co.
He also believes the cfo, ceo and IR are hopeless.
Tend to agree considering there was no update for 6 months last year from October to FY results.
Another seems to think that until they possibly do an asset sale ( UK or US), nothing is going to give.
From the recent TU
Over 80% of Group debt is at fixed interest rates. As previously communicated, we have already put in place a bridge-to-bond facility in respect of the £400m bond due November this year. We expect incremental annualised interest costs from this bond refinance to be in the region of £12m. As we manage the currency profile of our debt to match the currency in which EBITDA is generated, our covenant leverage is not impacted by currency volatility. We continue to see a clear path to debt reduction, which remains a priority, and we expect to be close to our target covenant leverage range of 1.5x to 2.0x Net Debt to EBITDA by Q1 2025.
I think in the end you have to ask: if there is a problem? well. How bad can things be to justify this battered SP? Earnings warning? well possibly but they can recover from that & i think unlikely. Cash call? no chance IMO after divi reinstated. Debt? well, this is under control as far as i can see & they're bringing down gearing. Inflation/interest rates? These are a global issue which will recede in time. NEX are fully hedged against interest rate rises & fuel spike for the foreseeable. My conclusion is this is shorting games & no more as far as i can see at least!
Lack of director buys is what smells really bad here. As soon as they got their free shares a few weeks back, they sold some “to pay the tax”. Like they couldn’t pay the tax from some other means, when they’re on 6 figure salaries.
I agree Hindy. The drop here is definitely getting to the bounce stage. I was going to add on Friday but held back. Thinking about this a bit more i will be adding next week on further weakness. The reversal has to be soon here. This has been way overdone now!
Perhaps the market as it does is looking forward/out to refinancing all that debt and is worried higher interest rates are here to stay for the foreseeable, maybe all that uncertainty is be putting pressure on the financials,...though the board having just paid the dividend suggests otherwise.
They really need to back the company up with some share purchases, the lack of is intensifying the sp downward spiral, until one way or another news breaks good or bad, sp says bad!
All the ducks are lining up perfectly here imo
It’s doing exactly what it needed to do
Bailey getting hammered in the weekend press. One reason for the sell off here.
Deal agreed in principle,
Hopefully the markets will bounce back on Tuesday.
GLA
It's all a bit strange. I remember the truss /kwasi saga. Melrose went to 95p, MKS 91p, IAG 90p. NEX was quite solid during that drop. All odd stuff but shows that decent companies just get hammered down for nowt!
Well I am expecting (as will the market) an interim dividend of a third of the previous years final dividend, whether that's a third of 5p or whatever the pro rata final part of 5p is, hopefully 1.67 interim announced at HY. They said that's what they intended when they announced the 5p.
As someone pointed out yesterday, shorts present, no BOD buys, and continuous decline in SP are usually a red flag.
But the same applied to NTWK last year, dropping to 1.60 and they continued to grow and show profit, then it recovered to 300, and is now in double bid situation.
Sometimes I think unsexy companies with smaller volume, often 3 figure algo trades, are easier to move sp wise for no apparent reason. Hopefully that is the case here.