Sounds promising tim. |
India suffered the warmest February since 1901. Power consumption in February was 131.54 BU, compared with 127.34 BU in Feb 2024. Adjusting for last Feb being a leap year, power consumption increased by 7% in the 12 months to Feb. |
I’d like to reinvest, the shares are cheap if the dispute with FEMA goes away. No update has yet appeared on the enforcement directorate’s website, I imagine all trades at the moment are entirely speculative. |
Flurry of BUYS (I should think) today - is there news coming?
Good I hope! |
Very poor numbers.
It really is a lucky dip with OPG results, one quarter they seem to make a fortune and look great the next turnover and profits fall off a cliff.
Compared with last years quarter they made just 10% profit and turnover down around 40% |
Q4 results of the trading subsidiary have been published in India. Really need a cashflow statement and balance sheet to see what’s going on. |
Some risk I agree but enormous upside when the enquiry has been resolved.
As it will. |
Dodgy as… |
But somehow never reflects the share price ... |
Meanwhile the company continues to generate huge income and profits!
BUY the dips! |
The person resigning is an Exec Director of a trading subsidiary, he is not on the main board of the group. So there is no requirement to RNS this. Of course we don’t know why he has resigned. But sometimes executives resign because it can affect their future careers if they know of information of wrong-doing within their organisation and stay anyway. Personally I think that more likely than he being closely involved in misbehaviour. The Enforcement Directorate announcement suggests the Gupta family is at fault. |
This guy, Chakrapani Murugeswaran seems to be at OPG Power limited (i.e. at the private subsidiary level) rather than at OPG Power PLC at the PLC holding company level.
From AR 2024 the directors are:
BOD at 31 March 2024
1. Mr. N. Kumar (Non-Executive Chairman);
2. Ms. Avantika Gupta (Chief Executive Officer); and
3. Mr. Ajit Pratap Singh (Chief Financial Officer).
NEDs
1. Mr. Jeremy Warner Allen (Deputy Chairman); and
2. Mr. P. Michael Grasby (Non-Executive Director)
Perhaps Chakrapani Murugeswaran is the fall guy?!
Either way....I hope that more scrutiny of the business going forwards helps transparency and ultimately the valuation here. |
why has the ceo resigned-can some one clarify what is the latest- why ni rns |
You can't help think that. Family owned no other big tutes. Who is holding the exec team accountable to the share holders. |
It looks as though all the profits are ending up on the kitchen table. |
Anyone had any news or rumours from India?
All gone very quiet but I'm certain OPG continue to make astounding net profits!
Just need to clear up this Money Laundering investigation. |
When it was 5.7-6.5p somebody bought over 300k on Aqse at 6.6p not sure why they did that, they could have got half that around 6.1-6.2p splitting the trade.
Wins go 6p bid, loads more buys followed and none of the mm's moved up, they all sat and held out and yesterday people started selling at 6p bid and they got most of the stock back for a handsome profit |
Dave can you please clarify in plain language |
Perfect markets for Winterfloods.
They sell a ton of stock and a premium buy for 6.6p go 6p bid yesterday and sit there patiently and today they get it all back for a lovely profit. |
fine but we have noot heard if the investigators have been satisfied with the assurances of OPG |
 Extract from the Co Report 20/12/24;
"On 11 & 12 November 2024, the Directorate of Enforcement (ED), Chennai Zonal Office, conducted search operations at various premises associated with the OPG Group, as part of an investigation into alleged violations under the Foreign Exchange Management Act (FEMA) and Foreign Direct Investment (FDI) Regulations. The Company would like to assure our stakeholders that the Company has fully cooperated with the authorities throughout this process and has provided all requested business-related information in a timely manner. The Company remains committed to adhering to all applicable regulations and will continue to offer full cooperation with the enforcement authorities. The Company are confident in the integrity of our operations and will promptly supply any additional details that may be required by the relevant authorities.
The Company continues to strengthen its balance sheet and liquidity position which provides OPG with the financial strength and latitude to pursue new growth opportunities in energy transition.
The increase in electricity demand and transformation in the power sector in India provides a prime opportunity for OPG to continue to generate profitable revenues through its sustainable operations.
The Company expects to continue to generate strong cash flows from its operations."
N Kumar
Non-Executive Chairman |
 Agree with your points starpukka.
The buyers coming in here are partly buying on the back of what now appears to be an oversold valuation, as well as, what looks like a forecast beat to come. Seen as the broker is playing it conservative on the coal prices, this looks like what is in the pipeline.
However, there is also clear speculation on the part of buyers here, on how the fraud investigation pans out. If, as you say, a bombshell rns drops, then all bets here are off. If it is some form of bad news, then again confidence will be hit hard. I don't know what will drop. It could of course be an all clear.
Ordinarily, with prices overshooting to the downside (as is the norm now), this would have been a bounce back trade candidate. Not suggesting it would have gone to the moon, but maybe a push back toward 10p-11p, and some consolidation there before the market thinks about the next move. It was a struggle to get above there before.
So now I'm sat thinking: "Isn't it just safer to wait for the all clear?". I mean: "If you have allegations and cash shows like this, can you keep that side clean from the company side?".
Do people who behave in such a way usually separate the two?
I am not sure enough to take a position - way beyond my risk tolerance. However, if there is an all clear, then this could be worth a look in. It is hard to say where the price settles in the meantime though.
If volumes fade off here with the price at around 6p/6.5p, maybe the market makers go 7p-8p if there is an all clear. On the flip-side, clearly it won't be a nice bid price if there is bad news, with selling closed off quickly at price points and little volume pushing the price down.
I'm curious enough to watch how this plays out. Always said in the past that we don't learn from the clean companies.
Hanging around alot of bad smell suspect one's of late!
But let's see what happens and if there are any learning points here.
All imo
DYOR |
Getting noticed - miles to go! |
Yes the figures look good but the fact that the fraud investigation is ceo-and not company- specific, didn't stop the share price crashing initially. So, it all seems precarious to me.
Further fraud disclosure or charges brought would surely drop the price again ? No suggestion of ceo resigning or being sacked yet ?
And isn't it most likely that others are found to be involved ? I'd be surprised if he is a one man band in all this.
"Oh what a tangled web we weave, when first we practice to deceive". |
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