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SumanSpeaks Capital Markets & Geopolitical Intelligence  ·  Estd 2006   Insolvency Law · Corporate Accountability When the Law Works Exactly as Designed — And Still Feels Wrong ₹22,006 crore in personal guarantees. Settled for ₹6.5 crore. Approved 80.81% to a minority that included two public sector banks — with the tribunal's own bench divided before a tie-breaking member stepped in. Subhash Chandra (Goenka), founder of the Essel Group and promoter emeritus of Zee, has settled a personal guarantee liability of ₹22,006 crore for ₹6.5 crore. The National Company Law Tribunal approved the plan this week. The case began small. In 2022, Indiabulls Housing Finance — now Sammaan Capital — moved against Chandra over a personal guarantee on a ₹170 crore loan to Vivek Infracon. By the time the insolvency plea was admitted in 2024, admitted c...
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Gitanjali Gems Ltd: Turns Bullish...

A buy call was given on Gitanjali Gems Ltd, a couple of days back, for a short term target of Rs.45; after the Index of Industrial Production (IIP) rose 6.4% in August, compared with 4.1% in July and 0.5% in August last year, data from the statistics office showed on Monday---among sectors, gems and jewelry, electricity, mining and apparel contributed to growth while steel and instant food mixes were the slowest growing. 

 The company's outstanding debt as on March 31 was Rs 8,715 crore, while the reserves and surplus was Rs.4018 Cr, as per the Economic Times, 3 June, 2015. 

It is to be noted that the bullishness of the gems and jewelry sector increases with any rise in GDP. 

 The Book Value of the shares of Gitanjali Gems Ltd is Rs.292.67 while its market cap is ONLY Rs.379.73 Cr. Its P/E is 14.23, as compared to the Industry P/E of 35.84. Today, the shares of Gitanjali Gems Ltd closed at Rs.38.70 (BSE), up 6.03%.

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