Aimed at improving transparency in allocation of mineral resources, government seeks to amend the existing 57-year old Act to introduce competitive bidding through the auction route for iron ore and other minerals. "In order to both improve transparency in allocation as well as to ensure a fair share of the value of minerals for the government, the Bill prescribes competitive bidding by auction as the method to be followed for allocation of Mining Leases (MLs) in respect of notified minerals," said a draft copy of the Bill posted in Mines Ministry's website.
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Monday, November 17, 2014
WINNING STROKES: THINK DIFFERENT
Today, as was mentioned in the late hours of trade, Allied Digital Services Ltd (Rs.21.45) hit the buyer freezes on the both the exchanges, in the late market trade. The scrip is rising basically on twin reasons: (i) More visibility on the revenue front from the Pune CCTV-Project and (ii) From Q3FY15, it should start showing better results. The book value of the shares of the company is Rs.149.40 and it has a market cap of only Rs.99.07 Cr. The investors are suggested to stay put in the shares of the company, for a target of Rs.41-42, in the coming months.
ARSS Infrastructure Projects Ltd today fell with low volumes and closed the day in the NSE at Rs.41.90, just on the support line. The company not only came out with good September, 2014 quarter numbers but is also likely to get benefited from the FDI in Railways sector and easing of rules in the construction sector. Weak hands are getting out of the stock and is being replaced by long term investors. The book value of the shares of the company is Rs.239.76 and it has a market cap of only Rs.62.12 Cr against the FY14 sales turnover of Rs.908.34 Cr and H1FY15 revenues of Rs.351.46, indicating that the scrip is highly undervalued at the CMP of Rs.41.90. ARSS Infrastructure Projects reported standalone net profit of Rs.2.23 crore in the September 2014 quarter. However, the Sales declined by 12.00% to Rs.164.41 crore. The investors are suggested accumulate the scrip on all declines.
Today Resurgere Mines and Minerals Ltd closed at Rs.1.65 up 4.43%, after touching Rs.1.72 intra-day. The company has an asset base of Rs.656.87 Cr, against the market cap of Rs.32.81 Cr, indicating that the scrip is undervalued. Moreover, www.moneycontrol.com writes on 17 November, 2014:
The Paid Members today were asked be long on Nifty, above 8370--I hope most of them made money from this call at the day. A 53 points higher weekly close, showed that the BULLS have again taken control of the things in Dalal Street. Although a range bound market is witnessed last week and in the early hours of today with no major activity Nifty remains strong above 8200. Today also since the morning the bulls guarded the levels of 8370 carefully and Nifty ended the day at 8,430.75 up 40.85 points. What is interesting to note is that Nifty (Spot) closed above the immediate resistance of 8415, giving the bulls further ammunitions to fight.