Categories
Observations

The Tale of Two Resignations

It is interesting how stock prices react to the same news in different ways.

Today Infosys took a battering (down 3.43%). The purported reason was the resignation of B.Srinivas,President and Member of the Board.

B.Srinivas was the leading candidate to be the next CEO of Infosys and the markets didn’t like his leaving one bit.

The next resignation to hit the news was that of B.Sai Kumar, the Group CEO of Network 18.B Sai Kumar was with the Group for over 14 years and was instrumental in building it up.

Yet the stock is up 8% today and hitting 52 week highs.Sure,its results a few days back showed a “turnaround” of some sort.

But the real reason appears to be this piece of gossip:

Black Wednesday. Network18 employees must be quite bewildered by the happenings of 28 May 2014. First came the announcement that group CEO B. Sai Kumar had decided to call it a day after 14 years of nurturing and growing it along with Raghav Bahl and Haresh Chawla. Then came the news that even COO Ajay Chacko had decided to bolt for the door.

But this is just the tip of the iceberg, according to sources. Apparently, a senior management exodus is likely to hit the group over the next few days.  The group today issued a release  on the BSE stating that CFO RDS  Billy Bawa has already tendered in his resignation.  Among those who are tipped to follow  include : senior vice-president corporate affairs and company secretary Anil Srivastava and group general  counsel Kshipra Jatana.

Their departure is a precursor to the biggest announcement that is likely to come out: that of the exit of founding/controlling shareholder & managing director Raghav Bahl.

No one from the company was available for comment, despite several attempts by indiantelevision.com journalists.

Apparently, the entire exercise is part of Reliance Industries getting into the driver’s seat at Network18. The former is likely to make an announcement of a  direct public offer to buy out Raghav Bahl’s equity stake in the latter.-from IndianTelevision

Categories
5Stocks

5 TV Broadcasters having a great May

This post is in continuation of my 5 Stocks series (see here)

5 TV Broadcasters having a great May 2013 (April 30,2013-May 14, 2013) are listed below:

Symbol Close on 30 April, 2013 Close on 14 May, 2013 Gain
TVTODAY 69.2 88 27.17%
NDTV 74.05 92.15 24.44%
ZEENEWS 15 18.05 20.33%
RAJTV 237.9 277.75 16.75%
NETWORK18 34.75 38.4 10.50%
Categories
5Stocks

5 Stocks where promoter’s stake has increased by more than 40%

This post is in continuation of my 5 stocks series (see here).

The table below lists 5 stocks where the promoter’s stake has increased by more than 40% between the quarters ended Sept 2012 and Dec 2012 (source:CapitalMarket)

Company Name Promoters % – 31/12/2012 Promoters % – 30/09/2012 Var(%)
Lloyd Steel Inds 58.35 36.14 61.46
Capital First 68.93 42.73 61.32
Shanthi Gears 70.13 44.13 58.92
Netwrk.18 Media 73 48.3 51.14
Welspun Investme 69.36 47.79 45.13
Categories
5Stocks

5 Stocks where FII holdings have fallen by more than 50%

This post is in continuation of my 5 Stocks series (see here)

The table below lists 5 stocks where FII holdings have fallen by more than 50% between the quarters Sept 2012 and Dec 2012. (source: CapitalMarkets)

Company Name FII % – 31/12/2012 FII % – 30/09/2012 Var(%)
Heritage Foods 0.72 9.34 -92.29
Tree House Edu. 1.56 4.88 -68.03
Netwrk.18 Media 3.94 11.13 -64.6
Alok Inds. 4.13 11.27 -63.35
IFCI 5.04 10.99 -54.14