It was a very clear organised manipulated move by the main shareholders. Our friend Maharaja too was an active member of that group.@EquityChamp wrote:Anyway finally BFN has moved past 20/-. This was by speculation. Anyway one or the other the price has moved.
BG Investments who had purchased BFN @ 15/- at the IPO would have wanted to exit. With absolutely very little market demand for BFN, Janashakthi PLC/Schaffter family controlled Dunamis and First Capital would have agreed to partly buy at a price closer to 15/- or slightly higher. Hence manipulate and move the price up and the rest of BG Investments shareholding would have been picked by other SPECULATING investors who thought " BFN PRICE IS MOVING UP AND THERE MUST BE SOMETHING REALLY GOOD HAPPENING AT THE COMPANY" even though profits have declined by (127%) by Sep 2017. Profits went further down to(163%) after the share price moved up
|Shareholder||No. of Shares Dec 2017||Shareholding Movement||No. of Shares Sep 2017|