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, May 31, 2016

Rolta India Ltd: Result Update

However, its consolidated net sales in Q4FY16, dipped marginally by only 13.7% at Rs.846 crore The information technology company had net sales of Rs.981 crore in December 2015 quarter.

The depreciation and amortization expenses declined 89% to Rs 19 crore in March quarter from Rs170 crore in December quarter.

However, the share nosedived by more than 7%, as the rating agencies S&P Global Rating and Fitch Ratings cut the company's credit score.

S&P Global Ratings on Monday lowered its long-term corporate credit rating on Rolta India to 'CCC-' from 'B+'. At the same time, the credit rating firm lowered its long-term issue rating on the senior unsecured notes that Rolta Americas and Rolta issued to 'CCC-' from 'B+'. Rolta guarantees the notes.

On Friday, Fitch Ratings too had downgraded Rolta India's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) and senior unsecured class rating to 'CC' from 'B'.

Meanwhile, Rolta India Ltd's CMD, Mr.K K Singh said that the company is confident of making a USD 6.9-million payment on overseas notes before the grace period deadline of June 15, 2016. 

He was talking to CNBC-TV18 after S&P and Fitch downgraded the firm's credit rating following a default on its 10.75% 2018 unsecured currency notes. Singh said an increase in the company's receivables period, from average 120-125 days to almost 185-190 days led to a cash crunch. But he maintained that the company was transitioning into an IP-led solutions business and is looking to rope in a strategic partner for large projects like defence, something that would help revive margins and return to comfortable leverage levels. He also clarified that the recent exit of two senior-level management personnel had no connection to the business performance. 

Therefore, the investors are suggested to buy the scrip of Rolta India Ltd (Rs.72.20) at the CMP and hold on, for some decent returns over a period. 
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