When you are the promoter of a listed company and also are "Offering private equity
advisory and investment banking services" the least you are expected to do is NOT write a equity reserach report advising the general public to go out and buy your own company
But that is Exactly what First Call India Equity Advisers Pvt Ltd did ......
Heres the shareholding of Firstobject Technology a company where Firstcall are as of march 2010 shown as promoters
FIRSTOBJECT TECHNOLOGIES LTD.
Scrip Code : 532379 Quarter ending : March 2010
Shareholding belonging to the category :
"Promoter and Promoter Group"
Sl.
No. Name of the Shareholder Total Shares held Shares pledged or otherwise encumbered
Number As a % of
grand total
(A)+(B)+(C) Number % of Total shares held As a % of
grand total
(A)+(B)+(C)
1 J S Surya Narayana 90,500 0.47 -
2 Dr Vivek Hebbar 45,491 0.24 -
3 First Call India Equity Advisers Pvt Ltd 2,495,576 13.03
Sindhuri Finance Leasing & Investment Ltd 12,000 0.06 -
Total 2,643,567 13.81 -
Now heres a link to the research report
http://www.moneycontrol.com/news_html_files/news_attachment/2010/FirstObject%20-%20firstcall.pdf
Cached link
1 http://webcache.googleusercontent.com/search?hl=en&num=100&lr=&ft=i&cr=&safe=off&q=cache:AE1DRupTUMoJ:http://www.dailybust.com/pdf-files/microsoft-word-firstobject-technologies-ltd-detailed-report-with+%22http%3A//www.moneycontrol.com/news_html_files/news_attachment/2010/FirstObject%2520-%2520firstcall.pdf%22&ct=clnk
2 http://webcache.googleusercontent.com/search?hl=en&num=100&lr=&ft=i&cr=&safe=off&q=cache:OXSSgqlxNgAJ:http://www.pdf4me.net/pdf-data/indian-multibaggers.php+%22http%3A//www.moneycontrol.com/news_html_files/news_attachment/2010/FirstObject%2520-%2520firstcall.pdf%22&ct=clnk
Notice the date of the report
19th January, 2010
heres the standard disclaimer
Disclaimer:
This document prepared by our research analysts does not constitute an offer or solicitation for the purchase
or sale of any financial instrument or as an official confirmation of any transaction. The information contained
herein is from publicly available data or other sources believed to be reliable but we do not represent that it
is accurate or complete and it should not be relied on as such.Firstcall India Equity Advisors Pvt.Ltd. or any of
it’s affiliates shall not be in any way responsible for any loss or damage that may arise to any person from
any inadvertent error in the information contained in this report. This document is provide for assistance only
and is not intended to be and must not alone be taken as the basis for an investment decision.
Notice that in such a large document not once did it mention that it is the promoter of the company its advising a buy on
Till march end 2010 Firstcall owned 12.6 of Firstobject and there they are advisisng investors to go buy their own company
Now if that isnt crooked and deceptive practise what is?
3 comments:
Hi, RK, Who are you. A blogger while writing on blogs and trying to point out, you need to come out with your address,name etc., U cannot write the way you understand or u like so without any substance. U may feel that u are writing it out with substance, but u are doing injustice for the very fact of ur limited understanding. Appreciate u Pulbishing your name, contact numbers and co-ordinates.
is that a not too subtle threat?
isnt it funny an annonymous person wanting names contact nos and "coordinates"?
the question really is who are you and who do you work for?
and do you think the article is wrong then please correct me
RK
these are all dalals of Bhadwa pastry, they getting frustrated. Motto is to loot public, pakade pichhwade me aag laga dena chaiye
Post a Comment