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, February 10, 2014

Steel Authority of India LtdBuy above Rs.63

Steel Authority of India Ltd has fixed February 20, 2014 as the Record Date for the purpose of payment of Interim Dividend on Equity Shares for the Financial Year 2013-14, if declared by the Board. The company is coming up with results on 14th February, 2014. 
Steel Authority of India Limited recently, commissioned two 853 tonnes-per-day air separation. The first unit went into commercial production in January, while the second one is expected to be operational before the first week of March, depending on the requirement of gas at Rourkela.

Moreover, Steel Authority of India Limited (SAIL), earlier said it had posted 10 per cent growth in sales during January this year at 1.14 million tonnes (MT) up by 10 per cent compared to same month last year. The cumulative sales growth by SAIL for the April 2013-January 2014 period was 8 per cent, as sales rose to 9.84 MT from 9.09 MT in the corresponding period last year backed by a surge of 47 per cent in its exports. Most products in SAIL basket registered a decent increase in sales but the sale of flat steel grew by a whopping 23.5 per cent. Cumulative sales growth for flat steel in the ten-month period was 10.6 per cent, an official statement said.

The upsurge in sales registered by the company has been a result of concerted efforts made by SAIL towards producing tailor-made steel to meet customer requirement. The plants and units of SAIL kept pace with this aggressive sales strategy, by increasing production of saleable steel by 4 per cent in 2013-14, at 10.74 MT.

Increasing input costs have forced steel companies,  including JSW Steel, SAIL and Essar Steel, to raise prices Rs.500-1,200 a tonne for the second time this year, in February, 2014.


JSW Steel has increased prices up to Rs.1,200 a tonne, or up to two per cent, across the board. Essar Steel has increased prices Rs.1,000-2,000 a tonne and SAIL Rs.300-500 a tonne. 

In January, 2014, hoping demand for steel to pick up in the New Year, domestic producers had raised its price by upto Rs.1,500 a tonne to offset rising input costs and higher freight charges.

Steel makers had previously hiked the price in September by up to Rs.2,500 per tonne, but held on to it, till January, 2014, despite the NMDC hiking iron ore price by Rs.100 a tonne and the Railways imposing peak session charge from October.

Buy the scrip above Rs.63, for a very short term target of Rs.69. Also, kindly keep a SL of Rs.57.