SumanSpeaks: The Information Super Highway

SumanSpeaks Independent Capital Markets and Geopolitical Intelligence Weekend Reading: Gita and Society Krishna Said “Worship Me.” The Viral Post Skipped Chapter 9. A viral Bengali post says India worships the most, achieves the least, and that Krishna never asked for worship. The Gita says otherwise, twice, in Chapters 9 and 18. A post is doing the rounds on Facebook, in Bengali, written with great confidence. It says India worships the most and achieves the least. It says Krishna “never said do puja, he said do karma.” And it offers four proofs: Lakshmi and America, Saraswati and China, Vishwakarma and Germany, the Ganga and Belgium. Great slogan. Let me put one question in front of you: what if the Gita says the exact opposite? THE POST’S CENTRAL CLAIM Shri Krishna never said, “do puja.” He said, “do karma.” We have mistaken puja for karma. 1 Krishna asked. Twice. In the same words. मन्मना भव मद्भक्तो मद्याजी मां नमस्कुरु । मामेव...

SumanSpeaks Independent Capital Markets & Geopolitical Intelligence PSU Steel Turnaround Watch NMDC Steel Ltd (₹41.65): A ₹24,000 Crore Plant, a Four-Year-High HRC Market, and an Enterprise Valued at Just 45–67% of What It Cost Capacity utilisation has gone from 50% to 80% in a year. Crisil has upgraded the company to A/Stable. HRC has moved from about ₹58,000 to about ₹64,000 a tonne since August. Yet the market still values the Nagarnar enterprise at ₹16,057 crore against a project cost of ₹24,000 crore. Every few years, an asset comes along where the market's price and the asset's economics stop talking to each other. NMDC Steel is one of those cases, and this is the week to look at it carefully. The 3 MTPA Nagarnar integrated steel plant in Bastar, Chhattisgarh, has crossed the stage that kills most greenfield steel projects. It has been built, commissioned, ramped up and, for FY26, turned profitable. Now the product it makes is getting dearer...

SumanSpeaks  Estd 2006 Independent Capital Markets & Geopolitical Intelligence Realty · Company Deep-Dive DB Realty at ₹97: From a Legacy Name to a Deleveraged Mumbai Development Platform Renamed Valor Estate Ltd but still trading as DBREALTY, the company has cut consolidated debt by over ₹1,100 crore, returned to profit in FY26, and cleared a four-decade-old land title dispute at Mira Road. At ₹97, the stock is best read as a Mumbai land-and-development platform, not a conventional earnings story. DB Realty Ltd (₹97) was renamed Valor Estate Limited in March 2024, though the stock still trades under the familiar NSE symbol DBREALTY. Incorporated in 2007 by Vinod Goenka and Shahid Balwa, the company was once associated with the 2G spectrum case, in which a trial court acquitted all accused in 2017 for lack of evidence. Since then, the business has been rebuilt around a very different idea: aggregating difficult Mumbai land parcels, clearing titles and ap...