Some stuff I am reading today morning:
SFIO arrests Neeraj Singhal, promoter of Bhushan Steel (BQ)
SEBI seeks powers to tap phone calls (Mint)
Farmers file police complaint against IMD (HT)
Jet Airways Audit Committee does not approve results (ET)
Interview with Samit Vartak (MC)
SEBI orders Vakrangee to make open offer (BL)
IKEA opens in Hyderabad (Rediff)
The Layers of the Brain (Common Sense)
Selling (A VC)
Price & Satisfaction (Seth Godin)
The attached pic tells us why it is so important to read Annual Reports
Cash flow statement of a company – Adds short term borrowings to cash flow from operations and inflates the operating cash flows pic.twitter.com/EadqRbzqsY
— Katalyst Wealth (@katalystwealth) August 9, 2018
Source: DRHP Filings of SM Gold Ltd
The Financial statements in the DRHP shows financial results from 2015 onwards even though the company was formed in 2017 and merged with a proprietorship firm on Aug 2018 ! (This month itself !)
The explanation is given below:
At this rate, any entity can get listed on the SME exchanges with the flimsiest of financial manoeuvres.
Have half a mind to suggest to Paramesha sandwich walla -who has a food stall on the street right below BSE- to go for a SME listing !
