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.

Tuesday, October 13, 2015

Gitanjali Gems Ltd: Buy
CMP: Rs.36.30
Gitanjali Gems Ltd has shown stellar performance in Q1FY16. The company's consolidated Q1 net for the quarter ended June 2015 nearly tripled to Rs.28.05 Cr when compared with Rs.10.15 crore in the corresponding quarter a year ago. Total income also surged by nearly 42% to Rs.2,952 Cr in Q1FY16 from Rs.2,082 Cr in Q1FY15.

Moreover, there was a recent report PwC which mentioned that, Indo-US tie-up in the gems and jewellery sector can be a win-win situation for both the countries; as on one hand the jewelry hubs can serve as captive production units for US retailers and on the other hand Indian manufacturers can benefit from the global expertise of their US counterparts.

Few months back, Gitanjali Gems Ltd announced a major restructuring of its business to create better synergy within group companies, bring down costs and improve cash flows for "unlocking value in future". 

The company at present is consolidating its various subsidiaries which are into jewelry retail under different brands like Gili and Asmi besides exports.

Gitanjali Gems Ltd's board had already approved the merger of its arm Gitanjali Exports Corporation Limited (GECL) with itself. As part of the consolidation exercise, the board approved the schemes of amalgamation of various group companies.

Accordingly, Asmi Jewellery India Ltd and Spectrum Jewellery Ltd will be merged with Nakshatra Brands Ltd. All the three entities are step down subsidiaries of the company. Gitanjali Jewellery Retail Ltd and Gitanjali Lifestyle will be merged with GILI India Ltd. Gitanjali Jewellery Retail and Gitanjali Lifestyle are the wholly-owned subsidiaries of the company, whereas Gili India is the step down subsidiary of the company.

The amalgamation is subject to the approval of High Courts and all other statutory approvals as may be required under the Companies Act, 1956.

Though presently there are demand woes - higher prices, a weak monsoon and oversupply of bullion following robust imports earlier in 2015; demand could improve soon as the festival season kicks off. The nine-day Hindu festival of Navratri started on Tuesday, to be followed by Dussehra, Dhanteras and Diwali in the next few weeks - all considered auspicious periods to buy gold.

The stock seems to have bottomed out in the Daily Candle Stick Chart. Buy the scrip at the CMP of Rs.36.30, for a short term target of Rs.45.

Hope you enjoyed my recent calls on Tata Steel Ltd, Jindal Saw, Hindalco Ltd, etc. 
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