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Wednesday, February 06, 2013

WINNING STROKES: THINK DIFFERENT
Today's call on Opto Circuits Ltd at Rs.67-68, saw it touch Rs.73.40 before cooling down a bit. Opto Circuits (India) Ltd has informed BSE, yesterday, that none of the "Promoters Shares" have ever been pledged.  There were mindless selling going on in the market on the behest of some Bombay based operators, while the market regulator looked the other way. Is there any need to waste tax payers' money in the form of creating institutions like SEBI and IRDA, if the retail investors suffer? When will the government takes steps to bring back the retail investors, who  is the heart of any equity market? Is the budget day, only platform to discuss about government's policy reforms in favour of retail investors? The equity market gives direct and indirect employment to lakhs of Indians, how is it, that the government is yet to bring about some sanity in the markets, except restoring FII flow, who were virtually driven out by the erroneous policies of the earlier Finance Minster, Dr.Pranab Mukherjee (and who virtually is the chief architect of the destruction of the interest of the retail investors). The mid and small cap space is almost on a 5-year BEAR run, but does the government have any concern for those who are still holding the shares of the companies in this space, some of whose share price are more than 500% below the all time highs? What steps did the government do to help the companies, who borrowed money to fund their acquisitions  by pledging their shares? Did the government of India and our all powerful RBI team, learn anything from the US experience as how they bought over the "Toxic assets" and gave a lift to the ailing economy? We morons are so, obsessed with ourselves that we will never learn from the others' experience. The Editor in Chief of Money Life, a Mumbai based Financial Portal wrote, "Consider this. Two decades later, mutual funds are witnessing a torrent of outflows even as the market inches towards previous highs. The insurance business has shrunk in an economy where everything is expanding. When money first started draining out of mutual funds, a lot of people blamed it on subdued markets. When the insurance business fell off its steep upward curve, it was seen as temporary. When brokers wailed about the lack of retail investor interest in the stock market, it was blamed on the temporary market decline after 2008. Well, these have turned out to be permanent problems". CLICK HERE.
Geodesic Ltd hit another buyer freeze in the late afternoon trade. The company is having, a board meeting in the 2nd week of February, 2013. This is the 4th Upper Circuits of the company, after it was recommended around Rs.16.30 (2nd time).  
Now mindless selling is going on in the counter of Jai Prakash Associates Ltd as the scrip tanked to Rs.73.30, from Rs.89-90, only some weeks back. The company concluded its qualified institutional placement by raising about Rs.530 crore. According to reports, the QIP was priced at Rs.83 a share and the proceeds would be utilised to fund the company’s working capital needs. The pink daily, Business Standard reported on 8 th December, 2012 that the company is in talks with the Aditya Birla Group to sell the cement unit for Rs.4,357 crore. The newspaper, pointed out at that time that an all-cash deal will help Jaiprakash Associates pare its debt of Rs.53,174 crore and conserve earnings. Interest costs usurped more than half of the company’s operating profits in the first half of the current fiscal. Now with the working capital in place, there could be a jump in operating cash flows from 2013-14, if the cement plant sale is still on their radar. With the capital expenditure cycle at the company peaking, operating cash flows are expected to improve from April 2013. Brokerage First Global Stockbroking Pvt. Ltd said in a note: “Given the absence of any major capex plan for FY14 and increase in profitability, the company is likely to record a positive free cash flow for FY14 for the first time in the last 10 years, which will allow it to comfortably meet most of its expected interest liability for the year.” A well known Financial Portal writes: "The company, meanwhile, is implementing other measures to improve profitability. With an aim to reduce fuel costs, it is planning to more than double the captive power generation at its cement business. The cement business contributes more than a quarter to the company’s operating profit. Overall, Jaiprakash Associates seems at the cusp of a financial revival. The company has recently received environmental clearance for the Amelia coal block". According to the sources, the management expects the mine to be operational by the 1st quarter of FY14. With most projects nearing completion, analysts expect the company’s revenue to get a fillip from the next fiscal year. The stock seems to be an attractive buy at Rs.73.30.  
My call on U B Holdings Ltd (BSE Code: 507458), couple of days back at Rs.85-87, saw it hit the 1st target of Rs.97, as it touched Rs.98.40 today. The company came out with good set of numbers both for the top and bottomlines in Q3FY13. The total income of the company for Q3FY13 came out to be Rs.175.17 Cr as against Rs.145.21 Cr in the same period previous year. The net profit of the company jumped to Rs.38.92 Cr as against Rs.3.07 Cr in the same period previous year. In Q2FY13, interestingly the company made a loss of Rs.17.18 Cr. In that sense the Q3FY13 of the company is brilliant. The investors are suggested to buy the scrip in bulk for a medium term target of Rs.139-140.