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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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Gitajali Gems Ltd: Buy
CMP: Rs.42.30
Gitanjali Gems Ltd recently announced the Un-Audited Standalone results for the Quarter ended June 30, 2015.

The Company has posted a net profit of Rs.158.014 million for the quarter ended June 30, 2015 as compared to Rs.79.692 million for the quarter ended June 30, 2014. Total Income has increased from Rs.15343.864 million for the quarter ended June 30, 2014 to Rs.16873.250 million for the quarter ended June 30, 2015.

The Un-Audited Consolidated Results for the Quarter ended June 30, 2015 is as follows:

The Group has posted a net profit after taxes, Minority Interest and Share of Profit/(Loss) of Associates of Rs.280.522 million for the quarter ended June 30, 2015 as compared to Rs.101.536 million for the quarter ended June 30, 2014. 

Total Income has increased from Rs. 20815.980 million for the quarter ended June 30, 2014 to Rs. 29526.728 million for the quarter ended June 30, 2015.

 Moreover, the consortium of bankers have assessed the working capital requirements and the sanctions are awaited with modified terms. The company's request for substitution of security and release of cash margin is accepted by the consortium of banks and on providing alternate collateral securities to banks, cash margins and collateral amount to Rs.55.98 Cr, would be released by the banks which will cover the overdrawing from Banks. The company's over drawn position in the working capital account as on June 30, 2015 amounted to around Rs.43.96 crores which is mainly on account of non servicing of interest and charges. 

Buy the scrip at Rs.42.30, for a short term target of Rs.64 and medium term target of Rs.72.

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