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.

Sunday, February 16, 2014

Gitanjali Gems Ltd: Q3FY14 Results update
On a consolidated basis though the results were not satisfactory but still, they  the net sales of the company for the December, 2013 quarter came as Rs.2759.60 Cr as against Rs.4354.98 Cr in the same period previous year. 

The net profit of the company for Q3FY14 came out as Rs.50.46 Cr as against Rs.172.2 Cr in the same period previous year and Rs.40.6 Cr in September, 2014 quarter. This means the fundamentals of the company are slowly improving and in future we could see further strengthening of the bottomline.

Also, the EPS of the company for Q3FY14 is Rs.5.48, which is not at all bad considering the current price of the company at Rs.65.05. Now what is interesting is that the 9MEPS of the company stands at Rs.13.41, which gives minimum target price of the scrip to be Rs.84-85 in the short term and Rs.103-104 by March, 2014, giving suitable discounts. 

Those who had purchased the scrip of Gitanjali Gems Ltd, at around Rs.60-63, can continue to add the scrip on all declines. The government is expected to bring in some changes in the import duty in the next month, also, in the Vote-on-account, there could be more incentives announced for the exporters. Remember, the book value of the shares of the company is Rs.304.58, while the dividend yield is 4.61% at the CMP. Moreover, the market cap of the company, is Rs.598.89 Cr as against FY13 turnover of Rs.10380.57 Cr and 9MFY14 (Nine Months of FY14) turnover of Rs.9682.5 Cr. Therefore, the scrip looks highly undervalued, except the fact that the company is reeling under heavy debts. But, the issue of debt has already been addressed and suitable discounting given, while arriving at the required target prices. This is a high-risk-high-gain scrip for the risk taking investors.