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, July 10, 2014

WINNING STROKES: THINK DIFFERENT
Photo: The Business Standard
As expected and as mentioned in this blog only yesterday to finish averaging, Western India Shipyard Ltd hit the buyer freeze at Rs.2.56. Finance Minister Arun Jaitley, while presenting his maiden budget after BJP's victory in May, said India will get 16 new port projects this year, with a focus on their connectivity to the hinterland. India currently has 13 major ports. He also, said a comprehensive policy will also be announced to promote the struggling shipbuilding industry in India this financial year. He further said a project on the river Ganga called ‘Jal Marg Vikas’(National Waterways-I) will be developed between Allahabad and Haldia to cover a distance of 1620 kms, which will enable commercial navigation of at least1500 tonne vessels. The project will be completed over a period of six years at an estimated cost of Rs.4,200 crore. 
Rohit Ferro Tech Ltd hit the buyer freeze in the afternoon trade at Rs.12.87, before closing at Rs.12.32. It is one of the largest merchant producers of High Carbon Ferro Chrome, Silico Manganese, Ferro Manganese & Ferro Silicon in India and exports 70% of Ferro Alloys manufactured to various countries across the world. The company plans to commission a 67 MW captive power plant at its Jajpur plant in Odisha within soon. Since ferro-alloy sector is power intensive, it will save a substantial part of the cost of production. Recently, the company added another feather to its cap by fully commissioning its Manganese alloys production facility of 100,000 mtpa with 6 nos. 9 MVA furnaces in Haldia, West Bengal. The unit has got the status of being a 100% export oriented unit (EOU). The Indian Finance Minister, Mr.Arun Jaitley, in his budget speed commented: "The domestic stainless steel industry is presently suffering from severe under-utilization of capacity. To give an impetus to the stainless steel industry, I propose to increase the basic customs duty on imported flat-rolled products of stainless steel from 5 percent to 7.5 percent". This was one of the major demands from the Ferro-alloys sector and I had mentioned quite a number of times in my recent blog posts. It is heartening to note that the Finance Minister, has decided, to act  upon this demand.
Today a buy call NIFTY_JUL-7700-CE @ Rs.59, for a target of Rs.81 and Rs.101, keeping SL of 7475 below NIFTY SPOT. It reached a high of Rs.137.70 intra-day giving more than double return in just 3-4 hours.
Resurgere Mines and Minerals Ltd today hit another lower circuits in the NSE at Rs.2.30 and Rs.2.51 in the BSE. It is probably because, the Finance Minister proposed to increase the export duty on bauxite (ore) from 10% to 20%. However, Mr.Arun Jaitley also, said: "It is my Government’s intention to encourage investment in mining sector and promote sustainable mining practices to adequately meet the requirements of industry without sacrificing environmental concerns. The current impasse in mining sector, including, iron ore mining, will be resolved expeditiously. Changes, if necessary, in the MMDR Act, 1957 would be introduced to facilitate this. There have been requests from several State Governments to revise rate of Royalty on minerals. Hon’ble Members are aware that rate of Royalty can be
revised after a period of three years. Last revision took place in August, 2009. Therefore, another revision, which is due, will be undertaken to ensure greater revenue to the State Governments". Hence,  the budget is infact positive for the mining sector. Moreover, selling bids in both the BSE and NSE, for Resurgere Mines and Minerals Ltd, has also come down, indicating that we are perhaps at the last leg of correction. The scrip is going for natural correction after a long and grueling rally. Those who will hold the scrip for the medium to long term would be benefited. All the negative factors are already factored in the current price of the scrip, whose market cap has come down from around Rs.1500 Cr in 2008 to Rs.49.91 Cr. The book value of the shares of the company is still at Rs.26.49. The company will start to show better sales volume, once the mining starts in Mahalmiriya (Bauxite) Mines in Maharashtra which has already got approval from the authorities, but got struck up due to some problem in the lease agreement. The mining could start post monsoon, in this mine and in other mines.
Allied Digital Services Ltd, today touched the upper circuits at Rs.21.85, before closing at Rs.21.15. This is also another turnaround case, and June, 2014 quarter results are also expected to be satisfactory. With INR near Rs.60, against USD, and both the US and European economies starting to pick-up steam, the Indian IT sector is expected to do well in the coming days.
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