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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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Do you know? 
Karuturi Global has allotted 36.50 crore convertible warrants of face value ₹1 each to non-promoters on preferential allotment basis instead of 34.5 crore convertible warrants. 

Earlier, the company had informed the exchanges that its board (on May 25) had allotted 34.5 crore convertible warrants as approved by shareholders. On this news the shares of Karuturi Global jumped 9.6% to ₹2.62 on the BSE.

The management of Karuturi Global seems to be have gone fully ballistic, regarding future prospect of the company. The next target for the scrip remains Rs.5-7; don't sell the shares in a hurry. I will speak with the sources this week and put the details on the blog. 

Meanwhile, Karuturi Global has reported a consolidated total income from operations of Rs.92.84 crore and a net profit of Rs.18.45 crore for the quarter ended Mar '15. Other income for the quarter was Rs.(-)1.06 crore. For the quarter ended Mar 2014 the consolidated total income from operations was Rs.156.33 crore and net profit was Rs 26.18 crore, and other income Rs.(-)12.67 crore.

Actually, I am too busy with some domestic problems and hence is not able to update this blog on time. Please bear with me, as I feel by next week, much of the problem will be solved; as I shift my location here in Mumbai (Bombay).

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