Friday, July 31, 2015

DO YOU KNOW?
Rohit Ferro-Tech Ltd (Rs.6.53) earlier informed the BSE, that Company's Factory at Haldia, Purba Mednipur, was under suspension of work from July 01, 2015. The Suspension of work was mainly on account of the following reason:

Substantial gap in Tariff of electricity by the West Bengal State Electricity Distribution Co. Ltd. (WBSDCL) and Damodar Valley Corporation (DVC). For the Company's Haldia Plant, the Company have to procure electricity from WBSEDCL, whose rates are 30% higher compared to DVC and as a result the Company is incurring huge losses.

This a good news for the shareholders, as the company might now think of procuring electricity from DVC instead of WBSDCL. The scrip should slowly move towards Rs.8-9.5 in the coming days--remain invested.
Rolta India Ltd: On a path of Recovery
Moneycontrol.com writes on July 29, 2015: The Ministry of Defence (MoD) has selected 10 companies who can file expression of interests (EoI) for futuristic infantry combat vehicles by October 2015. This will replace the Sarath BMP, which has been existing since past 10 years. 

The seven year old project is worth Rs.60,000 crore and includes large players like Tata Motors , M&M , Tata Power SED, L&T and smaller players like Titagarh Wagon , Rolta Limited, Pipavav Defence , Bharat Forge and Punj Lloyd.

Meanwhile, there were media reports that India’s Rolta Power Pvt Ltd and China-based Zhenfa New Energy Science and Technology Co Ltd have teamed up with a plan to install at least 2 GW of solar power capacity in India by 2020.

The two companies have entered into a memorandum of understanding (MoU) to conduct and capitalise on joint engineering, procurement and construction (EPC) opportunities in India’s solar power industry, they said in a press release on Tuesday.
Karuturi Global Ltd: The India's largest Rose Flower Exporter, is on a Dream Run
Earlier the India's largest rose exporter Karuturi Global Ltd (KGL) received an approval from the board of directors to offload its 53% stake in Mumbai-based Florista India Pvt Ltd, which operates a chain of floral designing boutiques across India, according to a stock market disclosure.

Recently Karuturi Global Ltd announced that the Committee of the Board of Directors of the Company at their meeting held on 25 May 2015, has allotted:

1. 34,50,00,000 Convertible Warrants of Face Value of Re. 1/- each to Non Promoters on Preferential Allotment basis through Resolution passed by the Shareholders at the Annual General Meeting held on 20 March 2015 pursuant to the provisions of Section 62 and other applicable provisions of the Companies Act, 2013.

2. 1000 Fully Convertible Debentures of Face Value Rs. 5,00,000/- each to Promoter through Resolution passed by the Shareholders at the Annual General Meeting held on 20 March 2015 pursuant to the provisions of Section 62, 71 and other applicable provisions of the Companies Act, 2013.

If you remember, the scrip was recommended at around Rs.1.20-1.50 and was asked to be averaged, on all declines. Congratulations to all, who followed this suggestion of mine and is now sitting on a pile of cash. The next target for the scrip seems to be Rs.7-9, as the company is taking of measures to improve both its top and bottomlines.
Yakub Memon execution: India needs to become more humane and abolish capital punishment
Photo: India Today
[Editor: The event shows that the current Indian Leadership cannot think beyond a point, as the state still uses medieval methods as deterrents to curb crimes--oblivion of the limitations of the "Death Sentence". 
Moreover, it has been proved that Narendra Modi government, does not have the power of innovation. A long time Facebook Friend came out with a sharp criticism against me when he said: "Tumahre jaise log ho to India ko kab ka Pakistan bana de..same (sic) to be indain(sic)". But the question is: how does hanging of an Indian help the country not becoming Pakistan?
Also, the Indian media has to be more humane, because they are the ones who most of the time, are responsible for whipping up the frenzy, for the "Schizophrenia", called "Capital Punishment". 
Moreover, Tripura Governor Tathagata Roy's tweets about Yakub Memon's funeral have evoked sharp responses from everyone. The 70-year-old Roy tweeted saying those who attended the last rites of 1993 Mumbai blasts convict Yakub Memon were potential terrorists, who must now be keenly watched by the intelligence agencies.  The First Post writes on July 28, 2015: Some 300 Indians actually put their signatures on a petition to President Pranab Mukherjee asking for a reprieve for Memon. They include Sitaram Yechury, Naseeruddin Shah, Aruna Roy and the BJP’s own Shatrughan Sinha.
Meanwhile, the Congress (INC) leader Mani Shankar Aiyar earlier said, there was no benefit to be gained from giving death sentences to convicts, and called for the practice of death penalty to be abolished, as it has never acted as a deterrent against terrorism]
The mourning for Yakub Memon at his funeral
creates an impression of two Indias.
Photo: First Post
Jul 31, 2015: The debate over the rights and wrongs of Yakub Memon’s execution on Thursday is yet another example of how opinion is bitterly divided between those who support death penalty and those who don’t.

For the abolitionists, it is a rare opportunity to harness people’s sense of the right, their emotions, and their understanding of human rights because a spectacle of a state-sponsored killing shake their conscience. It’s an opportunity to play with human emotions for the retentionists too, but what they choose to bank on is the idea of retribution or revenge killing, the victims’ need for closure, and the need for legal, than social, instruments to deter crime.

It’s superfluous to reiterate that death penalty doesn't deter people from committing grievous crime in any part of the world - not now, not in the past. Every single study across the world over the years has unequivocally established this fact. A recent report from the University Colorado said that 88 percent of the criminologists in the country didn't believe that it’s a deterrent. If it had, the jails in countries with death penalty wouldn’t be overflowing and the number of executions in China, Iran, Iraq, Saudi Arabia and even a modern and democratic United States should have fallen to negligible levels.

Although only three have been executed in India, including Memon, in the last decade, more than 1300 convicts have been handed death sentences by various courts. Have the number deterred crimes? No.

It's the same for the rest of the world, even in countries, like Saudi Arabia and North Korea, where public executions are carried out in the most gruesome way possible.  It’s not the experience of a few decades that make this point, but the accumulated evidence of a few centuries.

Several countries, where convicted criminals many of them for even minor crimes, were subjected to extremely torturous deaths have realised the fallacy of deterrence and have completely abolished the practice. The obvious example is Europe in the 17th and 18 century, when people were “broken on the wheel”, boiled to death, crushed to death, pulled apart by horses, and burnt and mutilated. 

France used to be the barbaric Saudi Arabia of today where capital punishment was a theatre of terror; now the country wouldn’t even extradite people to places where they run the risk of death penalty.

Executions are example of ultimate cruelty to people, that too those who are held captive. And every piece of witness account has the same spine-chilling air of helplessness and pain. After sitting through the last execution in France in 1977, a judge wrote: “I heard a dull sound. I turned round - blood, lots of blood, very red blood - the body had toppled into the basket. In a second, a life had been cut. The man who had spoken less than a minute earlier was nothing more than blue pyjamas in a basket. A guard took out a hose. The evidence of a crime needs to be erased quickly... I felt nauseous but I controlled myself. I had a feeling of cold indignation.”

In fact, visionaries had acknowledged the barbarity and futility of capital punishment long ago. Cesarae Beccaria, great Italian criminologist and one of the icons of Enlightenment in western Europe, had said 250 years ago that capital punishment was both inhuman and ineffective, an unacceptable weapon of modern enlightened state to employ, and less effective than the certainty of imprisonment. In his seminal “On Crimes and Punishments”, he said: “It’s not useful because of the savagery it gives to men. It seems absurd to me that the laws which are the expressions of public will and which hate and punish murder, should themselves commit one, and that to deter citizens from murder, they should decree a public murder.”
also see

It’s certainly encouraging that Indian courts, despite freely issuing death sentences, also commute them to life sentences and the State hardly executes people these days. However, its choice of cases and people that it executes does evoke a sense of prejudice and injustice. If terrorism is one of the rarest of rare cases that the courts find it fit for capital punishment, how come some terror convicts alone go to the gallows while some, even with equally grievous charges, get lesser sentences? If the State gets to choose capital punishment for certain crimes, that too in select cases, it’s very hard to ensure that there is no politically motivated indiscretion.

Abolition of capital punishment is right not only criminologically, but also by international conventions on human rights including that of the UN, which wanted a moratorium on death penalty in 2007. It’s widely accepted that death penalty, is a “denial of the universal human rights to life and to freedom from tortuous, cruel, and inhuman punishment”. Additionally, it will also allay fears of selective persecution and misuse by the State.

If the death penalty doesn’t deter, if the “miscarriage or failure of justice in the implementation of the death penalty is irreversible and irreparable,” as the UN resolved in its General Assembly that many countries paid heed to while moving towards abolition, and if there are other forms of punishments such as long term imprisonment are possible, persisting with the practice will only perpetuate State-sponsored cruelty.

In the last 25 years, the number of countries that abolished death penalty rose from 35 to more than 100. Most of the countries that abolished death penalty have also incorporated it into their constitution. Similarly, the number of countries that were “de facto” abolitionist (no executions despite death sentences) has also doubled.

The idea of reparation of victims, doing justice to their suffering, and helping them find closure to their angst, doesn’t hold water because the purpose of rule of law is not to foster revenge killing, but to deliver justice. There should be an alternative model of victim support, without political and ideological exploitation, to address their emotions. And most importantly, the purpose of Law should be to deliver justice and protect human rights, than to pander to popular sentiments.

Courtesy: First Post

Tuesday, July 21, 2015

Yakub Memon, Mumbai blasts convict, loses SC appeal; to be hanged
[Editor: It is unfortunate to note that Narendra Modi government has started following those foolish "Arabs", the Communist China and the US, apart from a host of other countries, who use this kind of "Eye-for-an-eye-justice System or Retributive Justice System", to correct their societies. Also, there is No proof that the Death penalty prevents crime...

On March 7, 2015, the world woke up to a horror when the media flashed the news that Iran's judicial system which believes in the ancient concept of "an eye for an eye"-- literally; forcibly blinded a man convicted of blinding another man in an acid attack. Even Saudi Arabia and many Islamic States follow such systems, which are outdated in almost the whole of Europe and some parts of American Continent. 

Moreover, following the
Andrew Chan and Myuran Sukumaran inside
the workshop of Kerobokan jail in Bali
executions of Andrew Chan and Myuran Sukumaran in Bali, debate about the role of the death penalty in society has led to calls for Australia to push for an end to the punishment around the world. 

But what a pity, India under Narendra Modi, instead of showing a new way to the world, is unfortunately trying out those old and obsolete methods, the progressive world has started to reject or protest tooth and nail---that Narendra Modi lacks innovation capabilities is proved once again. 

Bottomline is that: India should abolish Death Penalty or Capital Punishment at the earliest, to avoid brutalization of Indian societies. Moreover, what will India get by "Murdering" a qualified Chartered Account, instead of making him or use his knowledge for free to teach the poor and downtrodden (as a punishment)? This would have been more intelligent instead of those hackneyed methods. 

Very recently, the Malaysian Insider reported that in Indonesia, an interpretation of shariah promoting a moratorium on the death penalty has been raised, but it is unfavourable to many Muslim scholars. Amid the uproar concerning the death penalty for Indonesian migrant workers in Saudi Arabia, as well as that of drug convicts in Indonesia, opposing voices in the name of Islam are barely heard. 


Nahdlatul Ulama (NU), the largest Muslim organisation in Indonesia, considered moderate by many, condemned the death penalty for migrant workers in Saudi Arabia, yet supported the death penalty for drug convicts. But in general, the death penalty is a non-issue for Islamic organisations.

Capital punishment, along with corporal punishment, is prescribed in Islamic scripture so it is very difficult, though not impossible, to have a voice of Islam that is against the Death Penalty.

But then is India an Islamic State....?


Anyway,  digging a bit of history let me point out that Yukub Memon scored 70% in the state secondary board exams and went on to complete his Masters in Commerce from Burhani College of Commerce & Arts, even as his elder brother, Ibrahim Memon alias Tiger, was making his mark in the Mumbai underworld. After that he enrolled as a student of the Institute of Chartered Accountants of India in 1986 and become a certified chartered accountant four years later. Meanwhile, on April 9, 2015, ANI News reported that: Yakub Abdul Razak Memon cleared his MA political science exam from Indira Gandhi National Open University (IGNOU), Nagpur. His penchant for education has led Yakub Memon, a chartered accountant by profession, to take admission in MA (Political Science) course even after having a masters degree in English subject. IGNOU (Nagpur) Regional Director Dr P Sivaswaroop said that Memon scored second division marks in his exam and was always curious during the study sessions to know about the topics. I am appalled to see, how the government machinery is used to take revenge. 


Memon, always claimed that he did not know about his brother’s dealings, which the Honourable Supreme Court rejected. 

The First Post writes  on July 21, 2015: He set up a firm with his childhood friend, Chaitanya Mehta, called “Mehta and Memon Associates”. A year later, they parted ways and Memon set up his independent firm, "AR & Sons", in memory of his father. This firm proved so successful that he was conferred the Best CA Award by the Memon community in Mumbai. He diversified into exports and set up a company, Tejrath International, to export meat and meat products to the Gulf and Middle East. In a very short period, Memon became a financial success and invested in six flats in the Al-Hussaini Building in Mahim, close to the famous Mahim Dargah.

In this context, I also want to know more about Mulchand Shah Choksi. I feel that though the charges against him are serious, but then hanging a man to avenge the death of another, is as primitive as doing operation without anesthetic. 


Therefore, it is really pathetic to note: why Bharat-Varsha or India is made to follow those stupid Arabs, the headstrong USA and the communist China, when the Indian Justice System is more inclined towards the British Jurisprudence and the country is known for non-violence movements throughout the world. Can we have a Prime Minister, who is more progressive and innovative??!!]

Jul 21, 2015: The Supreme Court on Tuesday dismissed the curative petition of Yakub Memon, the only convict sentenced to death for his role in the 1993 Mumbai serial bomb blasts case, paving the way for his execution on July 30 in Nagpur's Central Jail.

Yakub is likely to be hanged in the Central Jail on the scheduled day after his last legal attempt to escape the gallows was turned down by the apex court.

Hindustan Times reported on July 15 that the state government plans to hang Yakub at Nagpur jail on July 30 if the Supreme Court turns down his mercy plea on July 21. The government initiated the process of Yakub's execution after the Supreme Court on April 9 rejected a petition seeking a review of his death sentence by a trial court.

President Pranab Mukherjee turned down Memon's mercy plea last year.

Yakub's relatives in south Mumbai have already been informed of his impending execution.

"According to a Supreme Court directive, relatives must be informed 15 days before the execution. The death warrant was issued on Monday and served to [Yakub’s] relatives on Tuesday. Jail authorities in Nagpur also have been informed to allow them to prepare for the hanging," said a home department official, who did not wish to be named.

Yakub's family, particularly his wife, Raheen and young daughter, are expected to arrive either on Tuesday or Wednesday for a visit, probably their last one, before his hanging.

Yakub, a chartered accountant, is the brother of fugitive terror mastermind Ibrahim Mushtaq 'Tiger' Memon. According to the CBI, which investigated the case, Tiger Memon got Yakub involved in planning the serial blasts, which killed 257 people and injured about 700 on March 12, 1993.

Yakub was sentenced to death by a designated TADA court in 2007, after it found him guilty of playing a key role in the criminal conspiracy. The CBI alleged that the blasts were planned by Dawood Ibrahim, Tiger Memon and others.

The Supreme Court subsequently upheld Yakub's death penalty while commuting the sentences of 11 others to life imprisonment. President Pranab Mukherjee turned down Yakub's mercy plea last year.

Meanwhile, sources said Yakub has been keeping a low profile at Nagpur Central Jail. He was shifted there in August 2007 from Yerwada jail as part of a move to ease overcrowding in the Pune prison.

Preparations for his hanging are underway and schedule for the day has also been decided.

Yakub will be woken up at 3am. He will be given a bath at 3.10am. At 3.20 am, he will be given time to pray. He will be served a breakfast of his choice at 3.25am. At 3.30am, the recitation of religious texts will be done. At 3.40am, he will be taken to the gallows.

At 3.45am, Yakub will be informed about the crime he committed and to feel remorse about it. At 3.50am, he will be told about the crime for which he is being hanged. At 4am, the noose will be tightened around his neck and he will be hanged.

After this, the doctors will examine his body and then a message will be sent to the home minister about the hanging. Later, Yakub's closest family will be conveyed the news over the phone.

The entire proceedings of July 30, 2015 will be monitored and witnessed by a select group of people, including senior officers of the jail administration, senior police officers, a lawyer, a couple of doctors and a person of repute who will act as a 'panch'.

Courtesy: Hindustan Times

Saturday, July 04, 2015

Rolta India Ltd wins "IT Solutions Provider of the Year - Oil and Gas Sector" Award at 2015 Frost & Sullivan India ICT Awards
Photo: Snipview.com
20-Jun-2015: Rolta was named "IT Solutions Provider of the Year - Oil & Gas" at the 2015 Frost & Sullivan India Information & Communications Technology (ICT) Awards event in New Delhi on 18th June 2015. This award acknowledges Rolta's innovative solutions tailored to the Oil & Gas industry. The eminent jury found Rolta's flagship BI and Big Data Analytics solution, built on Rolta OneView Enterprise Suite, a key differentiator during their evaluation.

Now, with the recent release of Rolta OneView 6.0, the value proposition of its solution suite for the Oil & Gas and other asset intensive industries sector has been raised further. It is a unique prebuilt enterprise software suite that is Cloud-ready and addresses the needs of enterprises to rapidly exploit the business value of Big Data and OT-IT integration for predictive and prescriptive analytics. By leveraging Rolta's patented technologies that facilitate real-time integration of data from disparate operations and business systems, Rolta OneView offers cross-functional visibility of all the critical business functions such as Operations, Assets, Maintenance, Reliability, etc. across multiple sites of an enterprise. Rolta OneView 6.0 brings over 200 pre-built business value scenarios that can be rapidly deployed and customized powered by 2000+ pre-built KPIs specifically designed for the Oil & Gas industry. The in-built business process driven knowledge model adopts industry standards such as ISA 95, PPDM etc.

Speaking on the occasion, Rajesh Ramachandran, CTO and President, Rolta Global Products and Technology Solutions Group, said "This recognition by Frost & Sullivan reaffirms Rolta's strategy of its innovative IP driven industry-specific solutions. The adoption of Rolta OneView by several global majors across industry verticals around the world, clearly illustrates the business value in this leading analytics solution."

Congratulating Rolta on the award, Mr. Benoy C S, Director and Head, ICT Practice, Frost & Sullivan said, "As one of the major IT solution providers in the country, Rolta continues to offer the Indian Oil and Gas industry with innovative, state-of-the-art solutions that help overcome the current day challenges posed by a volatile and complex environment. Its strong partnerships with companies like SAP, Oracle, and Microsoft among others have enabled it to be positioned as an end-to-end solution provider. Rolta is able to provide customers across the world with leading edge business analytics and big data solutions which has propelled Rolta to be recognized as IT solutions Provider Of the year, Oil & Gas sector. With a clear cut strategy for the future, in line with developing technologies and a strong focus on customers' requirements, Rolta will continue to be a strong solutions provider."

The 2015 Frost & Sullivan India ICT award recipients were judged on a variety of parameters that included revenue growth, market share growth, product portfolio diversity, key achievements, go-tomarket strategy, value proposition of the offerings, etc. Evaluation involved in-depth primary interviews of various industry participants and secondary research conducted by Frost & Sullivan analysts. An elite panel of jury members comprising prominent CIOs/CTOs from the collaboration industry evaluated the compiled data and incorporated the end-user perspective. Frost & Sullivan then presented the awards to companies that received the highest industry rank in each category.

Courtesy: Equity Bulls
Three Indian Companies in this Global List Which Has Louis Vuitton, Rolex
June 15, 2015: Three Indian jewellery companies - Titan, Gitanjali Gems and PC Jeweller - have been featured in a ranking of top global luxury brands by professional services firm Deloitte.

The list is topped by French multinational LVMH, which owns brands like Louis Vuitton, Bulgari, TAG Heuer etc.

The list also includes major luxury groups like Swatch, Ralph Lauren, Rolex SA, Prada, Tiffany, Giorgio Armani SpA, and Fossil Group etc.

Titan has been positioned 31st in the list, ahead of Italian luxury industry fashion house Dolce & Gabbana (39) and cosmetics and fragrance company Elizabeth Arden Inc (41).

Gitanjali Gems and PC Jeweller are 42nd and 44th spots in the list.

Titled 'Global Powers of Luxury Goods 2015', the Deloitte list ranks luxury firms from across the world according to their fiscal 2013 luxury goods sales in US dollars. The list featured 75 companies in 2014 but was extended to include 100 companies this year.

Including the three Indian companies, there are fourteen new entrants in the Top 75, compared to last year.

"India's PC Jeweller was the most consistent high performer, with the highest CAGR growth from 2011-13, at 32.3 per cent," the report said.

The report also said that luxury market in India is gathering pace while rest of the BRIC countries are still struggling. 

Courtesy: NDTV Ltd

Friday, June 12, 2015

Bearishness in soyabean prices on better production estimates
[Editor: This report says that the International trends aren’t supportive of Soya prices in Indian market. This is music to the companies like Rasoya Proteins Ltd (Rs.0.34), who were suffering due to steep increase in the price of the Soyabean, due to destruction of a large part of the crop in Maharashtra. However, the Soya Oil, imports continue to create problems for the domestioc players, as the Narendra Modi government is yet to take measures, to stem the tide. 
The shares of Rasoya Proteins Ltd, which is now hovering around Re.0.34, should soon cross Rs.5 in the near future; as the company's production is likely to gather steam, post September, 2015. Moreover, the company has come out with a comprehensive plan, regarding insider trading--all these augurs well for the company. The stock has hit the UC, today, and is likely to continue till Re.0.60. So, accumulate the scrip in every dip, so that your acquisition price comes down.
Meanwhile, there are reports that the market for soybean derivatives is estimated to be worth $176,921.05 million in 2015, and is projected to reach $254,913.10 million by 2020, at a CAGR of 7.6%. In 2015, the Asia-Pacific region is estimated to be the largest market and is projected to grow to $125,854.43 million by 2020, at a CAGR of 7.8%, as studied from 2015. North America is the second-largest market and is projected to grow at a CAGR of 9.2% during the period under review. The soybean crop is processed into soy meal and vegetable oil, and almost all of that meal is used in animal feed. Steady demand for soybean derivatives also confirms sustained need for food-grade soybeans, including specialty varieties, organic, non-GMO, and IP beans. Also, Washington recently unveiled a proposal that mandates less ethanol and greater biodiesel use than was originally outlined by law. Vegetable oil prices have since rallied, with CBOT soyabean oil futures gaining 4.5 per cent in the past two weeks and breaking daily volume records on May 29]
May 31 2015: Improved arrivals in the domestic market and forecasts of better global production are expected to keep a check on soyabean prices, which have been bullish since April. Spot prices, which have been hovering around Rs 3,300-3,470 per quintal between January and April, had gained 22 per cent to a high of Rs 4,217 per quintal (100 kg) in May. In the futures market too, prices that were at Rs 3,406 per quintal in January-end, moved up to Rs 4,380 in the first week of May.

Prices were under check between January and April as supplies were sufficient in the domestic market; soy oil imports had gone to record levels and the international price trends too were weak due to bumper crop in South America. In 2013-14, the country had achieved a record production of 119.89 lakh tonne.

The import of soyabean oil between November 2014 and April 2015 went up to 1,059,901 tonne compared with 641,286 tonne in the year ago period, up by about 65 per cent.

In the international market, soya- bean prices had dipped 8.6 per cent to $9.24 a bushel from over $10.11 a bushel since March as global inventories were expected to rise by over 12 per cent.

Due to disparity between international and domestic prices, soya meal exports from India declined. “The demand for Indian soya meal was weak due to the disparity in prices largely on unattractive quotes compared with other exporting countries such as the US, Brazil and Argentina. Vietnam lowered imports from India, while Iran, sought cheaper soy meal from other countries after the sanctions against it were lifted,” said Ritesh Kumar Sahu, analyst, agri-commodities, Angel Commodities.

Prices of Indian soya meal were quoted $80-90 per tonne higher than other countries. However, by May, predictions of a deficient monsoon increased concerns about a lower crop in India. Soyabean Processors Association of India (SOPA) predicted the production in 2014-15 would be about 99 lakh tonne. This saw prices moving up to Rs 4,200 in the spot market.

Meanwhile, Solvent Extractors’ Association came up with reports that the production could be normal in 2014-15 and that farmers had held up their crop due to lower prices. The market is also not expecting monsoon to be normal. This once again brought in bearishness in soyabean prices.

According to recent United States department of agriculture reports, global soyabean production for 2015-16 is expected to be similar to last year’s 317.3 million tonne. The larger crops from Brazil, India, Canada and Ukraine are expected to offset decline in production in the US, Argentina and China. There is also a 35 per cent increase in global carry over stocks.

“We expect soyabean prices to continue to remain sideways with negative bias for near to medium term on sufficient stock levels in the domestic market and expectations of better sowing in this kharif season. Soyabean prices may be trading in the range of Rs 3,650-4,150 per quintal in the next two months depending on the progress of monsoon and international price movement,” said Sahu.

Courtesy: Mydigitalfc.com
Do you know? 
Karuturi Global has allotted 36.50 crore convertible warrants of face value ₹1 each to non-promoters on preferential allotment basis instead of 34.5 crore convertible warrants. 

Earlier, the company had informed the exchanges that its board (on May 25) had allotted 34.5 crore convertible warrants as approved by shareholders. On this news the shares of Karuturi Global jumped 9.6% to ₹2.62 on the BSE.

The management of Karuturi Global seems to be have gone fully ballistic, regarding future prospect of the company. The next target for the scrip remains Rs.5-7; don't sell the shares in a hurry. I will speak with the sources this week and put the details on the blog. 

Meanwhile, Karuturi Global has reported a consolidated total income from operations of Rs.92.84 crore and a net profit of Rs.18.45 crore for the quarter ended Mar '15. Other income for the quarter was Rs.(-)1.06 crore. For the quarter ended Mar 2014 the consolidated total income from operations was Rs.156.33 crore and net profit was Rs 26.18 crore, and other income Rs.(-)12.67 crore.

Actually, I am too busy with some domestic problems and hence is not able to update this blog on time. Please bear with me, as I feel by next week, much of the problem will be solved; as I shift my location here in Mumbai (Bombay).

Wednesday, June 03, 2015

Karuturi Global reports consolidated net profit of Rs 18.45 crore in the March
Sales rise 18.58% to Rs 92.84 crore
Net profit of Karuturi Global reported to Rs.18.45 crore in the quarter ended March 2015 as against net loss of Rs.51.39 crore during the previous quarter ended March 2014. Sales rose 18.58% to Rs.92.84 crore in the quarter ended March 2015 as against Rs 78.29 crore during the previous quarter ended March 2014.

For the full year, net profit declined 53.00% to Rs 32.47 crore in the year ended March 2015 as against Rs.69.09 crore during the previous year ended March 2014. Sales declined 46.00% to Rs 266.23 crore in the year ended March 2015 as against Rs.493.06 crore during the previous year ended March 2014.

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Friday, May 22, 2015

Rolta India Ltd: Breaks Out
Rolta India Limited, a leading provider of innovative IT solutions for many vertical segments, including federal and state governments, defense and homeland security, this month announced the signing of definitive agreements for establishing a joint venture with Meprolight, a leading international electro-optics company. 

To be owned 51% by Rolta and 49% by Meprolight, the JV will take advantage of technology transfer from Meprolight for manufacturing and developing state-of-the-art optronics devices based on image intensifier and thermal imaging technologies in India, for addressing the growing demand for night fighting capabilities by the Indian defence and security forces.

Meanwhile, there were recent media reports that, Indian Institute of Information Technology (IIIT) will be coming to Pune. Guardian minister Girish Bapat announced the decision which put an end to the long wait of having one of the 20 proposed IIITs in the Mumbai-Pune corridor by the ministry of Human Resource and Development (HRD). It will be located in Chakan. 

For IIIT Pune, the government has joined hands with Rolta India Limited, Mumbai, Hubtown Limited, Mumbai and Quick Heal Technologies Private Limited, Pune. The industry partners for IIIT Nagpur are NDCC, Nagpur and Tata Consultancy Services Limited, Mumbai. The total estimated expenditure for the venture is Rs 128 crore. As many as 40 acres in Chakan have been allotted to the project where work will begin immediately as the government plans to begin admission from academic year 2016-17," announced Bapat.

Moreover, Rolta Ltd has a P/E of only 2.47 against the industry average of 22.60. Now if the company gets a decent P/E of 15, then the shares can trade above Rs.200. 

Thursday, May 21, 2015

WINNING STROKES: THINK DIFFERENT
The Nifty as expected turned bullish since yesterday. The resistance of 8390, was covered today, as FIIs started buying again, amists the rumours that there is a mutual ceasefire, agreement between the government and the FIIs in matters of "TAX TERRORISM". It was basically due to this episode and the NDA's government's directionless economic policies, which spooked the FIIs. However, with Narendra Modi, returning to the Indian soil, after burning a hole in the economic map of India; hopes are being whipped up, that he would now concentrate on the domestic reforms more. Narendra Modi is a rustic-hard-working Indian. However, he neither has the intelligence nor has much idea how to run the economic landscape of this country. His speeches are not only substandard but sometimes laced with only self-praise. His finance minister, Mr.Arun Jaitley, is equally inapt and amateur. The markets moved up due to some unrealistic expectations from the Narendra Modi government, which got diluted as the "Real Modi" unfurled from the ramparts of Red Fort.  However, most of us never thought that persons like Arun Jaitely would be FM and Smriti Irani would occupy the HRD ministry in Narendra Modi's government, leaving the stalwards, like Dr.M M Joshi, Mr.L K Advani, Mr.Arun Shourie, etc. This proves that Narendrfa Modi is a snob and rewards his blind followers. Moreover, this is the same Modi-Jaitley-Sushma Swaraj combination, who opposed FDI in retail and insurance, only to take a U-turn later. 
Today, was the day of Rolta India Ltd. The scrip moved to Rs.121, intra-day before closing at 120.05 up 4.48%. The next target for the scrip is Rs.125.
Today, Gammon Infrastructure Projects Ltd was recommended to the Paid Groups at Rs.11.74. The scrip moved to Rs.11.95, intra-day before closing flat at Rs.11.58. The short term target for the scrip is Rs.15. It is in talks with Mumbai Port Trust to start roll on-roll off operations and putting the Indira Container Terminal project to alternative use.  Meanwhile, the company has  posted consolidated Jan-Mar net profits at Rs.73.77 mln  as against loss of Rs.405.61 mln a year  ago. It has come out with  net sales of Rs. 2.08 bln in Q4FY15, up 1.1%  Y-o-Y  basis. 

Wednesday, May 20, 2015

Indian banks may offer interest on gold deposits of above 30 grams
Indians are fond of gold
Mumbai, May 19, 2015: India could allow individuals deposit a minimum of 30 grams of gold with banks in return for interest payments to help monetise large quantities of the metal lying with households, a step that is aimed at cutting expensive imports.

Trying to mobilise 20,000 tonnes of unproductive gold owned by Indian households into cash, Finance Minister Arun Jaitley in his budget speech on 28 February unveiled the gold monetisation scheme.

Banks could treat gold deposits as part of their cash reserve ratio (CRR) or statutory liquidity ratio (SLR), the finance ministry said in its guidelines released on Tuesday to seek opinions about its gold monetisation scheme. It said the stakeholders could respond to its suggestions by 2 June.

The SLR is the minimum amount of bonds that banks must have, while the CRR is the share of deposits they have to compulsory keep with the central bank.

"Both directionally and in terms of content, this draft reflects a practical approach," said Somasundaram PR, managing director of World Gold Council's India operations.

"Once the incentive framework falls into place to the satisfaction of the banks, customers and others, we will own a uniquely Indian scheme that allows gold to become a dynamic, fungible asset in the hands of gold saver," Sundaram said.

The government is trying to convince households, who sometimes have little faith in financial institutions, to break the tradition and hand over gold passed down the generations.

Under the scheme, customers' will have to deposit gold for at least a year and banks may pay the interest after 30 or 60 days of the opening of the gold savings account, the proposal said.

Both the interest and the principal payable to depositors are likely to be valued in gold and the gains will be tax-free, it said.
"Lower threshold for deposits and tax exemptions will make the scheme attractive for households," said a Mumbai-based dealer with a bullion importing bank.

But the biggest challenge would be to set up collection centres that can accept gold, the dealer said.

Courtesy: First Post