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SumanSpeaks Independent Capital Markets & Geopolitical Intelligence POLITICAL ECONOMY | PART 1: THE TELECOM TEST The Sangh’s Costliest Blunder: Keeping Narendra Modi in the Chair After Demonetisation and a Trail of U-Turns Two private giants, one state-propped survivor, roughly ₹3.22 lakh crore in announced BSNL revival and support packages (spectrum allocation included), and ₹1.41 lakh crore of AGR dues still on the books: telecom shows what happens when one man’s brand becomes the party’s only policy. This is an argument against Narendra Modi, not against the BJP. SYNOPSIS India’s telecom market has narrowed from a messy but real plurality into two dominant private networks, one weak private survivor kept alive by government equity, and a public operator that has needed about ₹3.22 lakh crore in announced support packages and spectrum allocations, not all of it cash. The 2010 spectrum auctions that started the debt spiral were a UPA-era event, and we say so plainly. But a ...
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Mid-cap IT stocks rise high, on the back of Indo-US nuclear Co-operation: Four out of the top 10 gainers from BSE’s A group today were from the mid-cap IT segment viz. VisualSoft, Mastek, iGate and Rolta.
My recently recommended Scrips MRO TECH Ltd & California Software Company Ltd closed with decent gains:
Agro Dutch Industries Ltd closed in the Postive after the news came out that the company is on the verger of completion of the Can Making plant by March 2007:
Mid caps close at 5017.30 up 43.7 and Small caps rise to 6717.28 up 51.84 points:
Crude at 62.38 per barrel:
My recommended picks Nova Petro, Landmarc Leisure Ltd and Nagpur Power & Industries Ltd hit the buyer freeze today:
A host of mid-sized IT firms surged today. The top gainers were Orient Info (up 20% to Rs 22.25), Zensar Tech (up 13% to Rs 237), VisualSoft Tech (up 11% to Rs 77.75), Aztec Software (up 8% to Rs 174.50), Infotech Enterprises (up 7% to Rs 328.50), 3i Infotech (up 6.6% to Rs 185), Helios & Matheson Information Technology (up 6% to Rs 138), Rolta India (up 6% to Rs 248.20), Mastek (up 6% to Rs 347), iGate Global Solutions (up 5.8% to Rs 329), R Systems International (up 5.6% to Rs 186), CMC (up 3.9% to Rs 644), Aftek Infosys (up 3.5% to Rs 51.40), Hexaware (up 3.3% to Rs 186), Polaris Software (up 3% to Rs 165), Kale Consultants (up 3% to Rs 120), and NIIT Tech (up 2.4% to Rs 281). A selective rally has been witnessed in mid-cap IT stocks over the past few days/weeks. Consider this. From Rs 513.05 on 12 December, Nucleus Software has surged 34.6% to current Rs 691.05. Polaris is up 35.7% from Rs 121.55 of 30 November. iGate Global Solutions has risen 36.5% from its recent low of Rs 240.85 of 12 December. Infotech Enterprises has witnessed a sustained rise over the past few months. IT companies are witnessing robust demand environment as offshore outsourcing is gaining strength. `We believe that the benefits of the robust demand environment would also trickle down to mid-cap IT companies especially niche service providers and product companies’, notes Emkay Share & Stock Brokers in a recent report. Global IT services spend is estimated to grow at a compounded annual growth rate of 5.7% over 2005-10 to $589 billion, according to International Data Corporation. With increased acceptance of global delivery model, offshoring of IT services is expected to grow at a faster clip of 25% to 30% plus CAGR over the next five years. [From Internet]
Best wishes,
Suman Mukherjee
India.

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