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Showing posts from September, 2019
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SumanSpeaks Independent Capital Markets & Geopolitical Intelligence  Small-Cap Steel · Capacity Expansion Story Vraj Iron & Steel at ₹126: A Small Mill Building a Much Bigger Ambition Trading close to book value, backed by a near debt-free balance sheet, and sitting on a freshly-approved ₹450 crore greenfield project in Bastar — Vraj is one of the few micro-caps where the next two years' capacity roadmap is already on paper. India's steel story runs through its infrastructure spend, and Vraj Iron & Steel Ltd (₹126) sits right inside that value chain. At around ₹126, the stock trades close to its book value of roughly ₹125-130 a share, at an earnings multiple near 12x. That is not an expensive tag for a company that has just commissioned new capacity, approved a new rolling mill, and greenlit a large greenfield expansion — all inside the last six months. The bigger story here is not what Vraj ear...
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Market Commentary

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Winning Strokes As expected the domestic benchmark indices corrected sharply today, amid broad based selling pressure. Banks, auto and metals tumbled. The S&P BSE Sensex, plummeted 503.62 points or 1.29% to settle at 38,593.52. The Nifty 50 index shed 148 points or 1.28% to close at 11,440.20. US political developments and tougher decibels  from the Washington and Beijing on trade deal also spoiled investors sentiment. The market breadth was quite weak. On the BSE, 762 shares rose and 1755 shares fell. A total of 128 shares remain unchanged. I had given a sell on Nifty Bank at around 29810 for a target of  29550. The Bank Nifty closed at 29,586.05 down 597.05 points. I had given a sell on the markets yesterday, and I believe we will slowly glide down towards 9200 as the P/E is quite high. Meanwhile, the initial irrational euphoria created by the media, post FM's cut of corporate tax has started to cow down. When the Private Consumer Index is at 4 ye...
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Winning​ Strokes Domestic share markets extended previous session's rally triggered by the government's move to slash corporate tax rates for domestic companies.  The surprise decision by the government is seen boosting corporate earnings to some extent as the effective corporate tax rate after surcharge stills stands  at 25.17%.  Moreover, the move to reduce the tax to 15% for local companies incorporated after October 2019 is also being given too much importance by the media in the present context.  However, the government giving MAT relief for those opting to continue paying surcharge and cess at 22% is a good move. MAT has been reduced to 15% from 18.5% for companies who continue to avail exemption and incentives.  Though the Indian media is going ga ga on this step saying that it will bring significant positive implications for corporates' profitability, broader economy and market valuations, I feel with Peak Income Tax remaining ...
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Hikaru Nakamura and Atousa Pourkashiyan: A Checkmate in Love – A Grand Union Forged on the 64 - Squares.... Introduction: Hikaru Nakamura, a name synonymous with modern chess, is a prodigy-turned-legend whose brilliance has redefined the contours of the game.  A five-time U.S. Champion, his fearless strategies and dynamic online presence have made him an unparalleled force in the chess world. In 2023, however, the grandmaster made headlines for a personal milestone: his marriage to the courageous and equally accomplished chess player, Atousa Pourkashiyan. Atousa, a Women's Grandmaster (WGM), is a celebrated chess player and a symbol of resilience. Her bold decision to compete without a hijab during the 2022 World Rapid and Blitz Championship became a landmark moment in the global spotlight. This act was a direct expression of solidarity with the Mahsa Amini protests in Iran, where women have continued to fight against oppressive mandates, demanding the freedom to choose their attir...
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Critical Red Flags at Rajesh Exports Ltd – Shift to Z Group Signals Deep Governance Issues. ~Sumon Mukhopadhyay. ------------------------------------ Company: Rajesh Exports Ltd (Rs.180.35). Date: January 5, 2026. Subject: Non-Compliance Leading to Z Group Classification and Investor Risks. =============== Executive Summary: A Major Regulatory Warning: As of early January 2026, Rajesh Exports has been reclassified into the Z Group (BZ Series) on both BSE and NSE. This punitive category is reserved for companies with serious compliance failures. The primary trigger: Persistent delay in submitting the Reconciliation of Share Capital Audit Report (required under Regulation 76 of SEBI's Depositories and Participants Regulations) for multiple consecutive quarters, including those ended June and September 2025. This isn't just administrative oversight—it's a serious red flag indicating potential mismatches between issued shares, demat holdings, and company record...
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SYRMA SGS Technology Ltd (Rs.611); P owering Growth Through Data Centers and Medical Devices with Its New Pune Facility. Introduction : Syrma SGS Technology Ltd (Rs.611) is making strategic moves in high-growth sectors such as data centers and medical devices, positioning itself as a leader in the electronics manufacturing industry.  The company's newly inaugurated Pune facility is set to become a key driver of revenue growth and market expansion. This development not only supports Syrma’s commitment to the data center and healthcare industries but also enhances shareholder value through innovation and scalability. Photo : Business Line. ---------------------------------- Key Facility Details: Revolutionizing Operations Facility Scale: Spanning 26.5 acres, the new campus is designed to support 1.20 million square feet of manufacturing space, with 60,000 square feet operational in Phase 1. Investment : ₹150 crore in Phase 1, with further investment planned to scale operations. Job C...
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