HOV Services down to under Rs 140 !
Many have been worriedly enquiring what’s happening here !
Some want to buy more !
Further Exposure is Foolhardy and assuming More Risk in the Wake of Inadequate and Non Disclosures from the Company & it’s Promoters.Corporate Governance Issues are raising an ugly head
SEBI & BSE & NSE must take the company and it’s promoters to serious task for keeping Minority Shareholders in the Dark on many issues that keep cropping up
Read my recent and even few years old blogs on the HOV
So if you are Holding HOV should you exit even at a loss ?…..my sense is to wait and not panic…the trading volumes are heavier than normal today on BSE & NSE but not alarming…yet
The enhanced stake of 44.82% in US based merged entity SourceHOV is the underlying Asset
So what happened to the US $ 95 m proposed sale of the pre merger stake of 26.1% held in SourceHOV ! that was cleared by minority shareholders in the recent postal ballot ! ?
And how was this enhanced stake funded !?
The Drop today looks like a panic reaction to suspicion that the Deal will now not go through and/or the enhanced stake was funded by Debt
Should not a higher Stake in a merged entity that boasts of over 16000 Employees across over 85 centres with a turnover of over US $ 900 million and now one of the worlds leading and largest Transactions Processing Service be more valuable than just US $ 95 m !?
Hope it does not result in shareholders who swore by the Company begin swearing at it on a realisation that they are being led up a garden path !
SEBI,BSE & NSE make the Company Disclose more and not just accept and file away the recent notification for the stake enhancement
HOV is testing Shareholders…clearly not an appropriate selection for many who begin sweating on a 20% + fall
What I express on my Blog is what I feel strongly and genuinely about.It is not specific advice or solicitation to buy or sell a specific stock .
I strongly advice those who read and follow my blogposts and act on what I express to do so at their own risk and judgement and preferably after seeking counsel from their investment advisors