Friday, February 21, 2014

Glodyne Technoserve Ltd hit another buyer at Rs.7.61 in the BSE as expected. The scrip as I mentioned earlier, should be moving towards Rs.14-15-17 in the coming days. The company is thinking of selling some of its assets to reduce the debts. It is still receiving money from the government contracts, however, the delays in the government policy decisions in relations to UID linkage to its social benefits projects such as NREGA which made its investments in the large size contracts idle and non return yielding for a longer period of time. The Company had already invested in the Capex and Opex for such projects and the returns from the projects were expected over a period of time. Annand Sarnaaik, the Chairman and Managing Director of Glodyne Technoserve Ltd, had already sent out an emotional appeal of sort to reach out to his well-wishers. He says, "Even though the times are extremely testing, I along with my co promoters and the team have been working relentlessly and with the same passion to make sure that the Company comes out of the adversities. Glodyne has been our life and we have built this Company out of all our personal investments and have always put the Company’s interest ahead of any personal interests. We have in fact put everything personal at stakes for the Company because we believe in the Company". Therefore, him and his team, work in such a way, that benefits trickle down to the kitty of the shareholders. What I want to see is solid results and not plane smooth talks which have been going on since the last one and half years.  
The Jewelry Stock continued their upmove today. My recommended P C Jewelers Ltd almost reached the 5th target, as it touched 101.90 (~Rs.102), intra-day before cooling down at Rs.99.70. Shree Ganesh Jewelry House (I) Ltd also moved up to Rs.28.80 before settling at Rs.28.25. The Jewelry stocks would continue to do well, as the government is bound to cut the import duty on Gold. Moreover, the demand for Gold has only increased during the last few months, so in any case, the jewelry companies, are bound to perform well. If you have still not entered the counter, please do buy some shares and keep  holding. Once it gets the nod on CDR package, it will start its expansion projects. 
Entegra Ltd today moved to Rs.3.89 and closed there, indicating further bullishness for the scrip. I had already strongly recommended to buy the scrip and keep holding. Going forward the Company has set up a strategy in place to aggressively market its Renewable Energy expertise for Wind, Solar and Hydro Projects on a pan India basis in FY 2013-2014. The Company will also be focusing on acquiring assignments for developing Energy parks and participating in projects focusing on Rural Electrification. The company also plans to expand its outreach of Solar and Hydro Power and increase its capacity generation in both arenas. During the current year 2013-2014, Company proposes to take forward 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 and 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.