Discrimination faced by Mumbaikars...

If the housing societies in Mumbai (Bombay) are only meant for families (married couples), then the government of Maharashtra should make marriage compulsory in the state/city.
Or else the government should tell its citizens where will Unmarried, Divorcees, Bachelors, Spinsters live in the city of skyscrapers or is Bombay only for those who have families.
This is one of the greatest mental blocks of Mumbaikars, who otherwise want to bask in the FALSE HALO of Cosmopolitanism.
This disease (of not giving apartments to Bachelors, Muslims, etc on rent) is specially prevalent in housing societies where the Gujaratis, Marathis and North Indians (to some extent) abound; while the rest of the population is more or less okay with the concept.
The government of Maharashtra should take this matter seriously and devise laws to eradicate this malice ASAP, so that BOMBAY (and its suburbs) becomes free of discrimination based on Marital Status, Religion, etc. Or else the Honourable Supreme Court of India should step in, and give directions to the state or central governments -- so that the fundamental rights of its citizens enshrined in the constitution of India is not violated.

Monday, December 16, 2013

Ambanis top wealth destroyers in 2008-13: PSU firms fare no better with 5 placed in top 10
~By Rajesh Abraham
Dec 15 2013, Mumbai: The last five years (2008 to 2013) witnessed unprecedented wealth destruction of Rs.17 lakh crore in Indian stocks markets with Ambani brothers top the list among the top 100 companies. State-owned firms fared no better with five PSU firms including MMTC and NMDC among the top 10 wealth destroyers, as per a study by Motilal Oswal Financial Services.

While Mukesh Ambani’s Reliance Industries topped the list with wealth destruction of Rs.1,128billion, followed by brother Anil Ambani’s Reliance Communication with Rs.921 billion of market cap wipe off from 2008 to 2013, according to Motitlal Oswal Financial Services Ltd’s `Annual Wealth Creation Study.

“The 2008-13period saw unprecedented wealth destruction of over Rs.17 trillion, almost entirely wiping out the total wealth created by top 100 companies,” the study said.

During the 2007-2012 period the wealth destruction remained at Rs.5425 billion, much lower than 2008-13period when Indian stock market saw wipe off of Rs.17140 billion or Rs.17.14 trillion.

“The irony is that the biggest wealth destroyer during this period is none other than Reliance Industries – five times consecutive biggest wealth creator from 2007 to 2011.

Five of the top 10 wealth destroyers are public sector undertakings with MMTC seeing a wipe off of Rs.891 billion, followed by NMDC with wealth destruction to the tune of Rs.822 billion. DLF saw the fifth top m-cap erosion of Rs 703billion.

“One-third of the wealth destroyed can be attributed to three broad ownership groups Reliance (Mukesh Ambani), Reliance (Anil Ambani) and government of India.

Reliance Power saw wipe off of Rs 619 crore, followed by BHEL, which lost Rs.574billion and Steel Authority of India (Sail) at Rs.506 crore.

Sunil Mittal’s Bharti Airtel was the ninth top wealth destroyer with a m-cap erosion of Rs.460 billion in the last five years and NTPC is the 10th in this `name-and-shame’ list at Rs.454 billion in wealth wipe off.

“The stock market’s perception of ineffective management (including capital mis-allocation, consistent failure to deliver on guidance, low dividend pay out etc) is a major source of wealth destruction. When the market is disappointed, it does not spare even those stocks which were its darlings till recently,” the report said.

Among the sectors, metels/mining saw the biggest wealth destructor at Rs.2896 billion constituting 17 per cent of total wealth wipe off in the last five year period. This is followed by capital goods sector at Rs.1,895 billion, and construction/real estate at Rs.1805 billion. Telecom sector is fourth biggest wealth destructor at Rs.1693 billion and utlities at Rs.1678 billion.

Oil & Gas sector accounted for Rs.1520 billion, followed by technology at Rs.1519 billion in wealth destruction. Banking & finance stood eighth in the wealth destruction sectors’ list with a m-cap wipe off of Rs.679 billion, followed by textiles’ sector at Rs.318 billion.