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 13, 2014

As expected markets came down to 6001.10, after 6070 was broken on the downside. Earlier, the advance of the markets looked like a   pull back and so, I was a bit apprehensive. The movements of the markets could at least be predicted this time, more or less. I hope those who had taken Nifty_6000_puts on breaking of 6070 might have made a good amount of money. Anyway. on the downside 5970 will again act as a strong support, where you should pick up Nifty_Futures (I mean corresponding to the spot levels of 5970) for a target of 6100 again on Nifty_Spot. The FIIs  have turned buyers today of Indian Equities to the tune of Rs.399.4 Cr, though as usual DIIs turned net sellers. Keep away from the Bank and NBFC Stocks, as would continue to under-perform for some more time. Today Manappuram Finance Ltd (Rs.21.90) crashed 10.25 on the bourses. At one time it kissed Rs.21.60 on the downside, intra-day. 
Today Jewelry stock did well in the bourses. My recommended P C Jewelers Ltd crossed its 2nd target of Rs.88, and touched Rs.88.60 intra-day. Other two of my recommended counters Shree Ganesh Jewelry House (I) Ltd (Rs.26.35) touched Rs.27 while Gitanjali Gems Ltd (Rs.63.60) touched Rs.65, intra-day. Meanwhile, Shree Ganesh Jewellery House (I) Ltd informed BSE that in terms of Articles of Association of Company, Export-Import Bank of India (EXIM Bank) has nominated Mr. Lokesh Kumar, as their nominee on the Board of Directors of the Company w.e.f. January 29, 2014. The Board has noted the same in their meeting held February 13, 2014. Both the companies are coming up with results tomorrow. The optimism has increased among the shareholders, following, good Q3FY14 results coming from P C Jeweler Ltd. 
Glodyne Technoserve Ltd came out with SHOCKING Q3FY14 numbers and I feel the regulators should do something to protect the shareholders from these kinds of PREDATORY promoters. The company's net sales for the Q3FY14 quarter nosedived to Rs.10.50 Cr, as against Rs.272.08 Cr in the same period previous year. Will anyone believe? This happened inspite of the CMD of the company Annand Sarnaaik, beat the drums in one of his interactions with ET Now that million of dollars is likely to flow from the acquisition of DecisionOne, a US-based IT firm promoted by a clutch of private equity investors, for around $104 million, (Rs.649.06 Cr, considering 1 $ ~Rs.62.41) in the next five years. Where are those so-called funds going? How is that after the lenders starting invoking / selling the promoters' holding, the quarterly results started to become worse and worse? What is the relation between the two? The promoters have pledged the shares in their own capacity, so does it mean that the profits from their US subsidiary should go to the personal accounts of the promoters? Then who told them to buy DecisonOne? The  net loss in Q3FY14 came as Rs.95.37 Cr as against Rs.29.54 Cr in the same quarter previous year. Now what is interesting is that, Annand Sarnaaik also talked of margin expansion in that video (presented below), but in Q3FY14, the OPM stood at (-) 585.28% while NPM came as (-) 908.06%.  What happened to his tall rhetoric?  The government authorities, should now file a CRIMINAL case against the CMD of the company at least U/S 415 and 420 of the Indian Penal Code (IPC), for misleading the shareholders, so that he steps down and a new management takes over. Or else I feel the pains of the shareholders would not come down so easily, as the promoters could be siphoning off the funds from the company, to buy the shares which were sold or invoked by the lenders in "BENAMI" accounts. The promoters are dishonest and cannot be believed. If the regulators still do not take strict action against the promoters, then I feel there is no use of having SEBI or such organizations at all in India. The small investors are at the receiving end, some having bought the shares from levels of around Rs.100 plus, while the company continues to play games. Unfortunate!! 
Entegra Ltd today closed at Rs.3.66. The investors should accumulate the scrip on all declines. The government of India in the last bugdet had introduced some favourable policies for the renewable energy industry. A large domestic manufacturing base has been established in the country for renewable energy systems and products. Companies investing in these technologies are eligible for fiscal incentives, tax holidays and depreciation allowance apart from the remunerative returns for the power fed into the grid. Further, the government is encouraging foreign investors to set up renewable power projects with 100 per cent foreign direct investment. Over the next few years, decentralised distributed renewable energy based initiatives of communities is likely to make a profound impact in some areas. Furthermore, with well developed industrial, financing and business infrastructure, India is perceived as an excellent country for developing Clean Development Mechanism (CDM) projects. Currently, with 789 projects out of 938 projects, renewable energy projects constitutes largest share in the registered CDM projects. In order to reduce transaction cost and develop a framework for larger CDM portfolio, the Ministry developed a framework for renewables under CDM Programme of Activities. In the ensuring Union Budget (Vote-on- Accounts) the government is expected to continue with its efforts to give adequate concecssions to this sector. 
Business Overview (Entegra Ltd): 
The Company is a pioneer in Renewable Energy in India with an integrated approach towards Hydro and solar (thermal & photovoltaic) energy and customised renewable energy solutions.
a) Hydel Projects: The 400 MW Maheshwar Hydro Power Project:
The Company’s prestigious clean and green 400 MW hydro-electric Project, the Maheshwar Project is slated to commence commercial operations shortly. With the distribution of awards and minor pending R&R work in few villages, the three Turbines can commence Revenue generation by Q4FY13. The Project has a 35 year power purchase agreement (PPA) with the Government of Madhya Pradesh wherein, the entire power generated from the project, which would be approximately 1226 million units would be sold to the Madhya Pradesh Electricity Board. The project is being implemented through its subsidiary - Shree Maheshwar Hydel Power Corporation Ltd. (SMHPCL). The payment from MPEB is backed by Letter of Credit from State Bank of India, Escrow Account and Guarantee from Madhya Pradesh State Government and the project is to be commissioned in 2013-2014 in a phased manner.
b) Solar Projects / Wind Projects:
The year 2012-2013 has seen the successful implementation and completion of some prestigious Wind and Solar Projects
which include the following:
1. A wind-solar hybrid system consisting of 1.8 kWp x 3 wind turbines and 1.2kWp x 3 photo-voltaic systems totalling 9 kWp has been commissioned at the President’s Estate, New Delhi.
2. The Supply and Installation of Solar Water Heaters at Raj Bhawan, Dehradun and Nainital with a total capacity of
3900 LPD.
c) Services:
The Company has also played an instrumental role in the supply and installation of Solar Water Heaters at various locations across NCR for private consumption. Given the accelerated focus on the renewable energy space and its growing importance as being an intrinsic part of the power requirements of the country, the Company continues to focus on exploring various opportunities providing innovative and modern renewable energy solutions and extending its various services in the Solar-Wind arena for Government, Commercial and Private operations.
Future Plans:
• The Company proposes to install a 50 MW Photovoltaic plant in Rajasthan in order to increase the output of renewable energy and capitalise on the potential of solar power generation in the state.
•The Company is in the process of tapping solar water heating systems and roof-top Photovoltaic projects in the MMR and NCR regions in Delhi among both, residential and commercial establishments.
India is the second most highly targeted country on a global basis, after the United States, with outside investors targeting local partners in order to be able to enter the market. The renewable energy sector has massive potential and efforts to tap the country’s vast resources are now gaining momentum. Thanks to the high demand in power that is being backed by a plethora of attractive government incentives, renewable purchase obligations, tax holidays and grid based incentives, the interest in the renewable energy business in the country has reached new heights. Despite 100% foreign direct investment allowed in power projects, The National Action Plan on Climate Change (NAPCC) has set an ambitious goal of a one per cent annual increase in renewable energy generation. The cost of power generation is going up for projects based on fossil fuels and that of renewable energy sources is coming down. The Jawaharlal Nehru National Solar Mission (JNNSM) is a transformational initiative for solar energy development in
India. The mission targets to propel India as a solar hub with 20 GW of grid connected solar power capacity by 2022.
Furthermore, the Government of India has come up with a Rooftop PV and Small Solar Generation Programme. There have
also been new tariff-based incentives for solar photovoltaic-based power generation, announced recently by the new and
renewable energy ministry.
Also, a solar manufacturing industry has developed for the manufacturing of solar cells which are made into modules (capacity
of 2,0000 MW for modules and 1,000 MW for cells). A large EPC industry has also emerged wherein a number of companies are now building solar power projects for others. There is also an impetus to explore the development of solar farms, particularly in the southern states, as their industrial units are short of power. There is a huge growth potential in these markets as they are in their nascent stage of development.
A movement called “social solar” is also gaining momentum at grassroots level in an effort to empower rural India with the introduction of smaller, inexpensive solar projects that can power villages. Solar power water pumps to aid agricultural production and solar powered cookers for community cooking are also been introduced. The Government has also come up with generation-based incentives for wind energy projects. The Government had introduced a generation-based incentive (GBI) which provides monetary benefit on every unit generated to companies that consider generation of electricity as their business. The wind power will get Rs 0.50 a unit of electricity as incentive up to a ceiling of Rs.1 crore a MW. I am expecting this scrip to cover all your future losses.