This one is for Blogreader Salafi from Chennai ~ Goldstone Infratech @ Rs 10 ~ Open Offer at Rs 23 or at Rs 43 ? Supreme Court will decide ~ but it seems a Win-Win either way.

Background of the Open Offer

On November 4,2008 Saffron Capital Advisors of Mumbai ,as Manager to the Offer and on behalf of the Board of Directors of Goldstone Exports Ltd (GEL) the Acquirer (now Trinity Infraventures),issued  a Public Announcement in the Newspapers that the Acquirer makes an Open Offer for 20% of the Equity of Listed Goldstone Infratech Ltd (GIL) (erstwhile GoldstoneTeleservices) at the Price of Rs 23 per share

On December 16,2008 SEBI advices the Acquirer to use October 29,2008 as the Reference Date to determine the Offer Price

It was on this Date when Shares were allotted to GEL on conversion of the Share Warrants they held ~ The Offer Price arrived at  was Rs 43

GEL had used the Reference Date of January 25,2007 when the Board of GIL had decided to issue 1.5 cr Share Warrants to GEL which could be converted into Shares at Rs 22 within 16 months of the allotment ~ GEL held 9.51% of GIL’s Equity of 2.1 cr shares of FV Rs 4  at the time and the conversion would take their stake to 47% ~ The Conversion took place on October 29,2008 when GIL issued 1.5 cr shares to GEL

GEL disputed SEBI and appealed to SAT which admitted the Appeal on February 16,2009 and later upheld SEBI Position ~ GEL then took the matter to the Apex Court,Supreme Court in 2009 (Civil Appeal 7666 of 2009)

On hearing Counsel on August 13,2012  the Court ordered to put it up for Final Disposal on October 10,2012 ~ It has been listed but never comes up for Hearing ~ the next listing date is July 9,2013  ~ so hearing is actually overdue after 16 ordered listing till date  in 2009 (1),2010(2),2011(5) and 2012(8)

An Investment Opportunity to consider in such a situation

GIL is available at Rs 10 ,near 52 Week Low of Rs 9 ~ 52 Week High was in October 2012 at Rs 17.60  on BSE ~ It is also listed on NSE

Market Cap is Rs 36 Crs ~The Volumes are not to heavy ~ Two Week average is below 5000 on BSE and yesterday it was under 1000

Current Shareholding of GIL as at March 31,2013 ~ Equity is Rs 14.43 Crs of FV Rs 4 comprising 36080737 shares

The Open Offer will have to be made to Non Promoter Shareholders to pick up 20% of the Equity

Thus 20% of Equity works out to an Open Offer for 7216147 shares => is @ 40.7% of the Non Promoter Shareholding of 17733222 Shares

This would mean that for every 10 shares held ,the Open Offer Success Ratio should be 4 Shares

Now lets assume you invest in 10 shares of GIL at current Price of  Rs 10 => Investment is Rs 100

This will how your Returns will pan out if  Supreme Court decided in favour of GEL or SEBI

If you sell the remaining 6 Shares at expected Post Open Offer dropped share Price of  Rs 5 (see reasoning below )you’ll get Rs 30 ~ so if GEL wins then the returns on your Investment of Rs 100 would be  Rs 22 or 22% (Inflows Rs 92 + Rs 30) and in case SEBI wins as is expected then the Returns are quite handsome at 102% (Inflows Rs 172 + Rs 30)

It’s a Win-Win in either case

 However Risks You should Consider

• Holding Period ~ It could stretch from a few Months to  two to three Years as the Supreme Court has a heavy backlog even though this Case was filed in 2009 and now up for final disposal at the next hearing ~ it keeps coming up in the cause list but because of the backlog it simply never comes up for hearing
• GEL may not Honour the Open Offer ~ This may appear as a Real Risk as the payout is Rs 31.03 Crs at Rs 43 in case SEBI wins  and Rs 16.6 crs at Rs 23  in case GEL wins ~ have not considered  any Interest from 2009 ~ However it has an Escrow put up pending disposal of the case and the Goldstone Group,even in a declining profitability scenario, may have more to loose if they do not honour the Open Offer committment
• Post Open Offer the GIL Share Price may nosedive sharply from the current Rs 10 ~ Let’s figure out how much could it be  by looking at the Earnings and Book  ~ These are the Financials and Relative Valuations

Financials & Valuations (Rs Crs unless specified)

I have assumed that GIL will maintain dividend of 5% or Rs 0.20 per share even in FY 13 despite declining Profits

Potential Share Price Decline Post Open Offer

GIL’s Share Price is currently at Rs 10 to reflect some buoyancy in this Open Offer Pricing Dispute Situation pending with the Supreme Court  ~ My sense is that Post Open Offer the Share Price of  GIL will drop sharply from current Rs 10 to reflect declining profits ~ However if it maintains Dividend and because Book yet remains at Rs 20+ the Share Price may not drop to Rs 2.50 which would reflect Earnings Multiples of 8 on an EPS of Rs 0.36 for FY 13 and may remain above Face Value of Rs 4 and therefore can assume a post open offer share price of Rs 5

GIL  continues to face many Operating Challenges ~ it has invested Rs 6.01 crs in a wholly owned subsidiary TF  SolarPower Pvt Ltd which has incurred capex of Rs 9 crs till date but work has been put on hold since 2012  because of falling solar module prices and a troubled solar energy sector ~ In it’s Business of Polymer Insulators ,GIL is facing competition from cheaper imports  ~ Power Sector Woes continue and despite huge Potential for the Insulator Business because of the ambitious 12th year plan for Power Generation,it looks unlikely GIL will see any significant uptick in business in the near term ~ It also has Long Term Debt of Rs 30+ Crs to contend with ~Interestingly the Debt is also secured by Equitable Mortgage of Immovable Property and Corporate Guarantee of the Acquirer in the Open Offer and Chief Promoter of GIL  ,namely GEL  now called Trinity Infraventures Ltd

However what caught my eye and  intrigued me is that despite Profits in FY 12 their Consolidated Networth dropped from Rs 99.27 Crs+ to Rs 73.12 Crs + and the reason is that they have written off as Impaired Obsolete Machinery of a huge Rs 27.22 crs ! because they have discontinued Jointed Telecom Kits and BPO Business ! ~ they say nothing was recoverable !~I checked their Fixed Assets Schedule and even over Rs 6 crs of Computers have been knocked off ~ suspicious if you connect this with Judgement Day approaching in the SC where if Goldstone Exports,now Trinity Infraventure,loses they will have to shell out over Rs 30 Crs to pick up 20% Equity of GIL

And therefore I don’t think Goldstone will  put their hands up ~ they will honour the Open Offer whether they win or SEBI does

On April 1,2013 GIL announced recently that their Company Secretary and Compliance Officer , Srikanth Adalat ,had resigned as on March 30,2013

Adalat goes even before the Apex Adalat gives a verdict !

Yet what’s the Risk in GIL at Rs 10 !

Cheers !

P S : Salafi,if you make some monies on this ,do be kind enough to remember me ~ and email me privately ~ my email is on this blog ~ and I shall tell you where to send my Fees !

“Capitalism 24902″ and “Gaia Rocks!” and “doing good is good for business”…read on….

Outlook Business Magazine May 25,2013 Edition  carries My Book Review of ~Screw Business As Usual~ by Richard Branson

Unedited Review  Featured  on my company website earlier  too  as linked below

Richard Branson’s ‘Screw Business As Usual’ is fairly interesting but not as racy and peppy as his earlier books

Cheers !

USA Debt Ceiling is US $ 16.7 Trillion ~ President Obama & the Democrats want it raised while Republicans want Spending Cuts

This is a Simple way to understand the Fiscal Cliff that USA is standing on right now

Last Time USA bought Time not to fall of the fiscal cliff from January 1,2013  with both sides agreeing to disagree and deferring the call to raise the debt ceiling down the road in 2013

Both sides are not any closer to a compromise yet but will have to deal with before September 2,2013 or else the financial implications not just in USA but Globally are far weightier than what Lehman’s Collapse triggered in 2008

Quantitative Easing by pumping in liquidity even if it has meant excessive printing of Currency,has been the panacea prescribed by the Fed Governor Ben Bernanke and the Democrats as the way forward for the Economy to revive  ~keeping Interest Rates Low with Fed rate near Zero, encouraging Investments and Consumption ~ Falling unemployment rate from near 10% levels to current 7.5 % as in April 2013  &  Inflation rate raising it’s head even if ever so slightly has been seen as signs of  a recovery and that QE Measures are making an Impact ~ The Record US Dow at 15000+ is being seen as a reflection of a recovery ~ Housing Prices are showing signs of a Revival

Is this a sustainable Reality or just an Illusion ~ Does nobody realize that US is simply trying to solve their Huge Debt Problem by Resorting to More Debt  and leveraging the US $ Status as being the World Reserve Currency to keep it’s Mint running 24 by 7 !

More than half the US Debt has been created after President Obama assumed Office for the First Time and now has been re-elected for a second term

For example if you do use the CPI Inflation Calculator in the above Inflation link it indicates that US $ 1 in 2008 (Lehman Collapse Year) has the same buying power as US  $ 1.08 in 2013 ~ That’s not really any significant rising Inflation that should indicate with conviction of a sustainable economic recovery in progress

Unemployment Rates Falling too a good indicator of jobs market becoming active again but one has to factor in the new stringent  US Employment Restrictions that have been prescribed for overseas recruitments and outsourcing  ~ and the fact that US has signed Big Business contracts in Billions of Dollars with India in particular in the field of  Aerospace and Engineering and Nuclear Technology in particular has created thousands of jobs in USA ~ and one more point ~ many of the new jobs created are temporary or contractual in nature ~ in fact an Economy Policy Institute Report warns that even by 2020 30% of the American Workers will be engaged in Low Paying Jobs defined as below poverty line to support a family of four ~ not much change from 2010 ! It further warns that given that 50% of the American College Grads are currently unemployed or underemployed it will be most of these that will hold such jobs ! In fact currently 46 Million Americans live on Food Stamps ~ that’s 15% of the Population

And whether Excessive Printing of the US Currency to fund QE measures is the Only Solution that will position USA  to bring it bank into the pink of health or whether Spending Cuts to bring down Spiralling and choking Debt that mortgages the future generations too is the way to adopt I shall leave it to the Democrats and Republicans to fight out on the Fiscal Cliff they stand on !

Choking Total Debt is already globally estimated to be US  $ 223 Trillion ~ that’s over Three times the Global GDP of US $ 70 Trillion end 2012  ~ The Developed Countries are worse off with US $ 157 Trillion Debt which amounts to nearly Four Times their GDP while the  Emerging Markets Debt is at US $ 66 Trillion at  twice and quarter of  their GDP 

Of Total Debt of US $ 223 Trillion the Government Debt Component is  @ US $ 56 Trillion or 80% of Global GDP with Japan leading the Way at 220% Government Debt to GDP Ratio 

The World has never before been as heavily leveraged as it is currently and there is every indication that the US $ will sooner than later be unplugged as the World Reserve Currency ~ and not ‘if’ but ‘when’ this happens the US $ will overnight be considerably depreciated as it will not be required for countries to hold US $s in their Reserve for Trade ,especially Oil Trade Settlements and US will find unwilling Lenders through US $ Denominated Notes and Bonds ~ Even big US Giants like McDonalds & Caterpillar have recently raised Funds issuing Chinese Yuan Bonds   

What I do want to see in my Life time is that there emerges a wider distribution of Economic Wealth on Planet Earth for we have seen that concentration in  just USA and a few other Developed Nations can wreak financial havoc globally ~ In this Context China & India are emerging strongly to balance the Global GDP see-saw  between USA & Europe on one side and Asia on the Other

It’s not a Comfortable & Peaceful World we live in ~ with Economic and Nuclear Flashpoints reminding us of this  every single day and keeping the Planet wide awake lest we all die in our sleep if someone presses the ultimate trigger !

Yes the Dow will seek more record highs this year pumped more by excessive liquidity that has scarce other opportunities to apply itself in ~ too early to conclude with conviction that any Economy Recovery seen is sustainable

…..and our Sensex will follow ~ it’s already holding above 20000

Just be cautious of the triggers ! ~ September 2,2013 is just one of them

…..and for India it could be the General Elections being held earlier than 2014 as scheduled where Indians  are yet again expected when casting their Votes  to actually Vote their Castes ! and the warning yesterday by S & P that it continues to hold a negative outlook for India and there in a one in three chance that it may just reduce India to a junk status in the next 12 months from the near junk status of BBB- 

Facebook Share Price is US $ 26 one year from the IPO which was Priced at US $ 38 ~ seems to have stabilised in mid 20s but yet looks premium value rather than fair or bargain ~ 52 Week H/L is US $ 45/US $ 17.55 with current Market Cap over US $ 63 billion

Google is at US $ 904 with a 52 Week H/L of US $ 916/US $ 557 and a current market cap of US $ 300 Billion

There are a few who feel that fb can reach Google’s current Market Cap in the years ahead ~ that’s a Five Bagger !

Had Posted these three fb ipo blogs last year

Connected on Linked in but Disconnected Otherwise !

Linked In is all about Professional Networking ~ you’re appreciated and even envied, by Profile or Prolific Connections,some High Profile, or Endorsements or….or all  ! ?  ~ your social and interpersonal skills being  judged and ranked by whether you have just 50 connections or over 500!

And it’s quite funny when you spot a Connection at a Wedding Reception but don’t connect !

Name Dropping supported by evidence of a Linked In Connection !? ~ Of Course I know Him or Her !  Really !

Connection is just a Click  ~ hoping somewhere down the Line the Connection will Click !

Invite ? Accept ? Reject ? Ignore ?

Am I playing Linked In or is it Playing Me !?

Cheers !

Mothers Day Today ~ Mom & Dad ~ Miss you everyday…

Reliving Memories of both of you and  writing this Blog while listening to a Live Recording of the Jain Stutis and Stavans sung at the Prayer Meeting in 2007 on Mom’s sad and sudden demice ~ getting soft on the rendition of  “Maa Baap nay bhulshow nahin” 

Mom & Dad Blessing Me on launching Scriptech in 1990

In  1990 , at Age 28 and two years into marriage with a One Year old Son too,  my Wife and I turned Entrepreneurs setting up Scriptech in Mumbai to offer Equity Advisory and Training in Indian Capital Markets ~ today’s avtaar is www.jsalphaa.com

The Driving Force was my Parents Unconditional Love & Blessings & Support ~ as Inspirational Now as it was Then

Dad passed away in 1998 and Mom in 2007 leaving a Lighthouse Legacy of  Illuminating Values that continue to be an unwavering and strong beacon as we navigate Life’s Challenging Waters…..

In 2006,I was Invited to St Xaviers College,Mumbai  to Inaugurate the Entrepreneur Week and give the Key Address to the Management Students ~When I Spoke about the Wonderful People who Continue To Inspire Me this is what I conveyed about My Mom & Dad…….

My Mother….

Finolex Industries on 20% upper circuit @ Rs 120 on excellent FY 13 numbers~but continues to drag Derivative Loss Disputes for last 5 years

The Pune based  Finolex Industries promoted by the Chhabrias and India’s largest manufacturer of PVC Pipes & Fittings  has produced stellar results for FY 13.Last it performed like this was in FY 10 ~ It has earned Rs 136 crs recording an EPS of Rs 10.97 on an Equity of Rs 124 crs (FV Rs 10) giving a Multiple of 11 ~The Networth is Rs 721 crs at March 31,2013 giving a Book Value of Rs 58.2 and a multiple of 2 ~ The Dividend has been upped from 30% to 55% ~ Chhabrias hold 52.39% Stake=> @ 6.5 cr shares ~ thus Rs 35.75 crs would flow as tax free dividend to them

Capacities have been expanded with a new PVC Pipes Plant commissioned on March 27,2013  for 30000 MTpa at Masar near,Vadodra in Gujarat.This will be upped to 50000 MT pa in FY 14

The Government has increased the outlay in the 12th Five Year Plan for Rural Water Management & Irrigation ~ This augurs well for Finolex Industries

Would have been happy for Finolex Industries had their not been this Derivatives Loss Disputes Cloud that continues to hang over it,specially that they appear to have willfully defaulted on these lossess raising a Corporate Governance issue

For Loss suffered on Derivative Contracts in 2008/9 by Finolex Industries the Banks had made claims that showed at Rs 222 crs Contingent Liabilities as on March 31,2012 as they were not acknowledged as Debt and were disputed ~ As of February 2013 some were settled and @ Rs 100 crs continue to be unresolved of which Deutsche Bank claims Rs 95 crs   ~ Deutsche Bank had approached the Debt Recovery Tribunal to declare Finolex Industries as a Wilful Defaulter ~ this would have meant the Company would find it difficult to raise finance with banks and even in the capital markets and the Directors would have to resign from other Directorships ~ The Bank relied on an RBI Circular but the Company contested that the circular was not relevant as it covered only lender- borrower situations and the Bank had not lend any monies to the Company  and Derivative Contracts were not covered by this circular and that they had miss-sold such contracts ~ In August 2011 the Mumbai High Court ruled in favour of the Bank as RBI filed an affidavit that the circular did cover Derivative situations too ~ However the Company won the case on a technicality that due process was not followed and all case papers were not given to them by the Bank before deciding to tag them as a Wilful Defaulter ~ However in December 2012 the Supreme Court,where the matter was being heard ruled in favour of the Banks

The Valuations are not exactly a Bargain at Earnings Multiple of 11 and Book Multiple of 2 for FY 13 and even on a Forward Earnings Multiple of 9 + for FY 14

So though the Share Price of Finolex Industries may move some more towards Rs 150,this Derivatives Loss Dispute Continuing Cloud + the fact it yet had Rs 571 crs as Buyers Credits (Bank Acceptances shown as Short Term Borrowings) ,probably largely unhedged like FY 12 makes me wary of getting excited about the Company ~ more so as a Wilful Defaulter is defined as one that can pay but will not !

Wondering how Deutsche Bank did not go to Court to stop Finolex Industries  from declaring and paying Dividend all these years till they cleared or settled the Derivative Losses !

Phillipe Starck ! ~ Wanna Shake Your Hand ! 

Read this French Creative Genuis Product & Project Designer’s Interview in the latest HBR

http://hbr.org/2013/04/philippe-starck/ar/1

Hey Phillipe ! ~ admire your creative genius and passion and  that you live for what you stand for ! ~ Living Life on Your Terms !~treading that path myself… 

Some quotable extracts

•  I don’t use my energy on other people. I just work and read. I live with myself in front of my white page
• But from the 15th of June to the 15th of September, I live completely secluded, locked in one of my houses, working from 8 in the morning to 8 at night, or making my own biorhythm: work three hours, sleep 45 minutes, work three hours, sleep 45 minutes, for 24 hours, without eating. It’s a little sick. But I’m like Dr. Faust. I signed a contract with the devil to sell my life for creativity
• I never collaborate—not because I don’t like other people but because I am not able to do it. I’m one of the fastest organic computers on the market, but I need to be alone
• I am a lonely guy—earnest, rigorous, an incredible worker—and I just make what I can, how I can, when I can
  
• My way is to not delegate. I design everything very precisely, so when I give my team a project, nothing is in doubt. They receive it completely finished; there is nothing to do except crystallize it: put it on the computer—because I work with only paper and pen—and make the prototype. Then I see the prototype, and I check everything. I’m sort of a control freak. I have a very, very precise idea: the shape, the weight, the texture, the cost. And until an engineer explains to me that for technical reasons there is a problem, I don’t change a thing. Of course, if there is a real technical problem, I do change. I come back home, alone, and naked in my bedroom where I work, I redo it. I have no problem with that. But I don’t accept it if somebody tells me: “Oh, you did it in pink, but my wife prefers green.” I say, “I’m sorry. I’m not your wife. You pay me for my know-how. If I think it has to be pink, it’s pink, and here’s why.” I explain the difference between pink and green, and all the types of pinks and all the types of green, because I know my job
• I have very few people—a nanoteam—because I believe in staying as light as possible. Creativity is something light. Some people I’ve had for 30 years, and I chose them first just by intuition. I love something inside them. They might have no background in design, but they have an intelligence, elegance, honesty. I just took on a new guy I met on the sidewalk. He came up and said, “Mr. Starck, can I shake your hand?” like a thousand people every day. But I got a feeling. I said, “What do you do?” He said, “I’m an architect.” I said, “Come tomorrow to my office and we can speak.” And I gave him a project worth $1 billion without checking if he was good or not
• I manage by absence. I go to the office two, three days a month, and those are the worst days for me. So the people on my team do what they want, when they want, but the results have to be perfect, crystal perfect. I cannot accept laziness or something that is not intelligent or any type of delay. If we say we will deliver a project on the 20th at 5 PM, on the 20th at 5 PM we shall blow the minds of the people we’re presenting to
• First, ethics. Thirty years ago, when ethics was not so fashionable, I decided that I wouldn’t work for weapons, alcohol, cigarette, tobacco, gambling, or oil companies or religious organizations. That’s a hard position to take, because it’s a big group, and they’re the people with the money to buy you—to buy your virginity. You can’t imagine how much money I’ve lost because of it. But I shall not change. Second, the project has to be good not just for me and the client but also for the final user. When you work for that human profit, you will have success. Third, I have to fall in love with the client. If you want beautiful children, the parents must be in love

Truly Remember Guys that Real Wealth is Your Health & Not Stocks or the Sensex !…..God Help you if your Health & Wealth & Life’s Graph depends on the Latter’s Graphs !

Got a Personal Jolt yesterday on this that prompted this post ~ suspect the cause to be a Food Issue that gave me a harrowing two hours at midday that required a full day’s rest and fortunately this is the weekend ~ lucky to have loyal support personnel who quickly attended before even Family  ~ but the thought went out to the plight of millions who simply have to fend for themselves daily and therefore simply cannot afford to fall ill ! ~ and God help them should they face any serious Health Issues !

So Please ensure Good Health by living and eating well and please do get Adequate Medical Insurance for Self and Family

Urban Life is getting increasingly Urban and Stressed ~ Simple Daily Routines involve Increasing Noise & Air  & I daresay People Polution that can get to you

When was the last time you actually felt your bare foot on green grass and the morning dew !? ~ when was the last time you heard Sparrows chirping !? ~ Do make it a habit to get up early ~ pray ~ meditate~ just enjoy the rare urban silence early morning ~ it will speak sweetly and soothly to you ~ at least go for a half an hour morning or evening stroll in a nearby park or garden or the seaface if it’s nearby

Get Plants into your House and tend to them lovingly ~ keep grains and water out and you’ll get birds` parrots and pigeons and sparrows and even crows ~ and even squirrels coming in daily ! ~these are my pets now  ! and I cannot have breakfast before they have theirs !

And get a Good Night’s sleep every night by checking if you suffer from sleep apnea problems and attending to this with professional medical advice ~switch off your mobiles and TV Sets max by 10 pm……Forget IPL & dont let Arnab and  his Panelists on Times Now  provoke you as they assault your senses,though they are doing a great job highlighting scams without Fear or Favour~if it’s really urgent ,all your near and dear ones would have your landline number anyway

In the last one month have had two  friends,both 50, who were jolted with cardiac trouble,one felt a stroke coming up and was driven straight  to the nearest hospital and discovered heavily clogged arteries and has got two angios done over a month~ the other was overseas and actually suffered a stroke and on an emergency basis was first immediately hospitalised and then later flown from one country to another for better attention before finally flying back to India ~ Thankfully they are recovering well

Ah ! and Yes,don’t forget to and don’t count the number of Times you say “I love you” to your Loved Family Ones ,even if it’s through BBM,Skype or G Talk or Whatapp or even through fb message~ Hug them Often too ~ Hug True Friends too !

And if Debt is burdening you,remember God gives you only as much as you can manage and your moral conscience will guide you to lessen this burden even if it takes some time ~ and if you’re finding it difficult to make two ends meet just keep the Belief in yourself and keep the Faith and Keep at it ~remain Upright and straightforward and dont get seduced in bad company ~paths will open out and better  Opportunities will come~ you owe it to yourself and your Loved Ones

…and do be careful should you wish for Instant Gratification ~ it comes with an Instant Burden too

Some Guidance that I came across….

7 Rules of Life

Enough ! ~ Now go smell that Grass and Hug your Loved Ones !

And any of you feel like connecting with me,just call……

Cheers ! and have a Great Healthy Weekend

Suzlon Energy @ Rs 14 ~ Gone with the Wind ! Now back with CDR !?

Market Cap & Networth are now both @ Rs 2500 crs levels with Share Price and Book Value @ Rs 14

Post IPO  some years ago the Market Cap had surged to Rs 50000 crs ! making Billions for Citibank & Chrys Capital and the Government of Singapore who had cornered Shares a year or two Pre IPO and issued two liberal Bonus Issues before  Citigroup  guided  an obscene IPO Pricing of over Rs 500 with vague Objects to the Issue  to leverage on the bullish craze at the time

Check out Scrip Watch Coverage on

Suzlon @ Rs 14~Gone With the Wind ! Now back with CDR ? ~ 25-Apr-2013

Anyone for going Long on SuzLon !?

Cheers !