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SumanSpeaks Independent Capital Markets & Geopolitical Intelligence Fed, FPIs & Budget Watch | Indian Equities The Fed Held, the Foreign Funds Flinched, and Delhi Is Listening: Where Indian Equities Go From Here The Fed held at 3.75%–4.00% on a 10–2 vote. FPIs have sold a record ₹3.07 lakh crore through 23 October. Delhi is reportedly weighing an LTCG cut. And on 27 October, the Nifty Smallcap 100 jumped 2.70% in a single session. Wednesday, 28 October 2026, gave Indian markets a rare thing: a day without a nasty surprise from Washington. The Federal Reserve kept its policy rate unchanged at 3.75%–4.00%. Nifty closed at 22,698.85, down just 0.22%, after Sensex had been down nearly 1,000 points at the intraday low. Then came the numbers that matter more. According to provisional NSE data, FII/FPIs were net buyers on the day. Across NSE, BSE and MSEI combined, they bought a net ₹871.83 crore, against DII net buying of ₹643.35 crore. It is one session, and it f...
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C Mahendra Exports Ltd: Q3FY15, Results Update
C Mahendra Exports Ltd, a renowned and trusted diamantaire and jewelry company with a wide spread around the world came out with not so encouraging topline but slightly improved bottomline, speaking sequentially in the December, 2014 quarter. The net sales of the company declined 89.80% to Rs.40.57 crore in the quarter ended December 2014 as against Rs.397.92 crore during the previous quarter ended December 2013. The company reported a net loss of Rs 14.52 crore in the quarter ended December 2014, as against net profit of Rs.1.00 crore during the previous quarter ended December 2013. 

However, if we look at the results, from other angle (when we compare the Q3FY15 and Q2FY15 results), we will see a marginal improvement in the bottomline of the company. 

The net sales of the company for Q3FY15 came out to be Rs.41.01 Cr as against Rs.119.15 Cr in Q2FY15. However, corresponding to the lesser sales volume in Q3FY15, there was also a steep fall in the net expensenses to Rs.45.83 Cr as compared to Rs.122.74 Cr in Q2FY15. 

This has made a great difference, when we look at Net loos from operations before other income, finance costs and exceptional items in Q3FY15, which is at Rs.4.75 Cr as against Rs.3.62 Cr in Q2FY15.  

Moreover, even though the other income component fell to Rs.24.10 lakhs in Q3FY15 from Rs.28.12 Cr in Q2FY15, the net loss for Q3FY15 came as Rs.14.52 Cr as against Rs.20.01 Cr. This is because, of a steep decline in the Finance cost to Rs.10.01 Cr in Q3FY15 from Rs.44.70 Cr. 

This is probably because the loans to the company have been classified as NPA by banks and some of them have stooped charging interest (since the amount turning NPA). In such circumstance, the company could be looking for an OTS, with banks. 

Therefore, the non-risk taking short term traders can exit the scrip and shift to UCO Bank (Rs.70.45). However, for long term risk taking investors, there is not much downside left in the scrip; as it has already reacted to the negative December, 2014 quarter results and is trading near its 52-week low price. They can hold with a SL of Rs.11.70.

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