Advani Hotels files SEBI complaint against Simply Wall Street
ADVANIHOTR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Advani Hotels complained to SEBI against Simply Wall Street Pty Ltd, an Australian firm publishing un-registered research on Indian listed companies. The company alleges SWS violated SEBI Research Analysts Regulations by not being registered. Specific complaints include wrong dividend data, false CEO pay claims showing a 20 percent rise that did not happen, and a DCF model showing the stock is 164 percent overvalued at INR 20.39 per share versus INR 53.86 actual price. Independent valuers peg the resort business at INR 828 to 1004 crores. The company seeks a cease and desist order and enforcement action against SWS.
Company acting to shield retail investors from misleading foreign research; positive sentiment if SEBI acts on the complaint and corrects false valuations.