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.

Thursday, February 20, 2014

 Hindalco Industries Ltd: SELL 
CMP: Rs.97.4
Hindalco Industries Ltd came out with a flat topline and depressed bottmline for Q3FY14. The total income of the company for the December, 2013 quarter came as Rs.7477.28 Cr as against Rs.7189.80 Cr in the same period previous year and slightly higher in case of September, 2013 quarter. 

However, the net profit of the company came as Rs.333.98 Cr in December, 2013 quarter as against Rs.433.52 Cr in Q3FY13 and Rs.357.11 Cr in Q2FY14. The nine months EPS of the company stands at Rs.5.95, which indicates the stock is ready for some correction. A sell call was given to the Paid Group members today, for a short term target of Rs.93. However, it can go down to Rs.91 also, in the short term.  

In Q3FY14, lower other income and Higher effective tax rate affected financial performance despite good operational performance. Hence, over a longer time period, the outlook remains bullish, since the demand is expected to remain robust, on the back of spike in consumption. Also, strong Premia despite announcement of changes in LME warehousing rules are reflective of scarcity in the physical markets. Once, this correction gets over and the scrip makes a base, one can slowly accumulate the counter.