Do you Speculate ? ~ Here is some chuckling advice from a Dealer !

This is from a Dealer in Commodities today after Menthol hit upper and lower circuits on trading

“Mentha First Hit 4% UC after that 4% LC

Dont wear Jeans without Underwear
Dont do Trade without Stoploss”

My Interpretation is that Stop Loss means you’ll be wetting only your Underwear ~ without Stop Loss you’ll be wetting your Jeans !

Methinks Whichever ! You’ll be Wetting anyway !

Wet Wednesday for Menthol !

“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 !

Nearly Five Years ago on July 21,2008 I had covered Nirma refusing to honour their committment of an Open Offer to Shree Rama Multi-tech Shareholders and that the matter was before the Supreme Court

Nirma disallowed to withdraw offer for Shree Rama Multi-tech

Monday, July 21st, 2008

I have posted this Update on the above blog post but for easier access and viewing have repeated it as a new blogpost now

Latest Update Sunday,May 12,2013 

After years  finally Supreme Court upheld SAT and Nirma will have to make the Open Offer to Shree Rama Multi-tech Shareholders to pick up 20% Equity at Rs 18.60

http://www.business-standard.com/article/companies/sc-dismisses-nirma-plea-in-shree-rama-open-offer-113050900201_1.html

Shree Rama consequently hit 20% upper circuit at Rs 5.74 on Thursday,May 9,2013 and another 10% on Friday,May 10,2013 at Rs 7.56 to give a market cap of Rs 44 crs

Nirma of course has delisted at Rs 260 in March 2012

However Dont get too excited and expect Shree Ram Multi-Tech to rise to Rs 18+ as only 20% of the Equity of Rs 31.76 crs (FV Rs 5) is the Offer Burden and so all shares will not be accepted  and post offer scenario the Share Price may drop below par of Rs 5 again

Shree Rama Multi-tech boasts of top Clientele but continues to make Operating Losses though in FY 13 it has recorded a Profit of over Rs 8 crs for the 9mFY 13  because of  Exceptional Item that relates to a settlement with a lender of less than 1/3 the amount (see below)

The accumulated Loss remains huge and Networth remains negative at @ Rs 90 crs with Long term Borrowings yet above Rs 200 crs

The company has filed fresh scheme of compromise and arrangement u/s 391 of The Companies Act, 1956 vide petition no.401 of 2008 in Gujarat High Court and the same is pending before the Hon’ble High Court

During the first quarter ended June 30,2012 in FY 13 the company has entered into settlement with one of the lenders and principle amount of Loans and Borrowing of Rs 72.63 crs was settled for Rs 22.57 crs. The resultant gains were credited to the P & L A/c by Rs 24.39 crores and to Capital Reserves by Rs 25.66 crs as per the end use of the Loans

Will be interesting to see if Shree Rama Multi-tech can be reborn again after  Scheme of Compromise and Arrangement is passed by the Court and further settlements take place with lenders to bring down Debt significantly ~ After all the Company  did notch Sales of Rs 72 crs in FY 12 and Rs 64 crs for the 9m FY 13

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….

Emkay Global @ Rs 17 in trouble as NSE rejects application to annul trades of October 5 2012

On October 5,2012 Emkay Global suffered a Loss of Rs 51 crs on squaring up trades that were executed from a Templeton order  punched in by a dealer erroneously in  more quantum than it should have been ~ the order was of a value of Rs 17 lakhs but the dealer instead punched in 17 lakhs nos  and the order value shot to nearly a Rs 1000 crs ! of which nearly Rs 700 crs was executed before the mistake was discovered and thus had to be squared off

NSE after an extensive investigation just rejected Emkay’s application to cancel all the relevant Trades of October 5,2012 early morning as there was material error in punching

Emkay has also send a notice to the BSE as below

“We are in receipt of NSE letter dated April 30, 2013 on May 01, 2013 late in the evening regarding the decision of the Relevant Authority of NSE on the application made by us for the annulment of the error trade of October 5, 2012. The Relevant Authority of NSE has denied our application for annulment of trades arising out of a clearly erroneous entry of sale order on October 05, 2012. The Company is considering various legal course of action including challenging the decision in exercise of its statutory right to appeal.”.’

Emkay is quoted at Rs 17 (FV Rs 10) giving a market cap of Rs 41 crs ~ Promoters hold 73.24%

In March/April 2006 it came out with a Rs 75 crs IPO offerring 62.50 lakhs shares in the price bad of Rs 100 to Rs 120 ~ and the following year 2007/8 was their best with Profit of Rs 23.50 crs ~ since then the next four Financial Years  dragged down a loss in 2008/9 followed by Rs 8 crs each profit in the following years and again drifted to a marginal loss in FY 11/12

Current Book Value is Rs 50+ with Networth at Rs 134 crs of which Equity is Rs 24+ crs

Clearly Rs 51 crs loss will be a huge setback to Emkay ~ destabilising their operations big time in very competitive times ~ Emkay will surely appeal

Several years ago the Emkay Promoters had sought a meeting with me as one of their Broking Clients and my Advisory one had made a 600% + gains on his Portfolio inside a year and they wanted to meet with the guy whose advice did this ! ~ they had only recently set up a Research Team taking several analysts from a leading stock market media  house  and they wanted to tie up with me  ~ did not work out as I must have quoted too high I suppose !

…and it’s sad luck that Emkay did this deal on NSE and not BSE for BSE may just have helped them out given it’s past track record for doing so when during Broker Dominated Boards, EDs and Presidents have had to resign for malpractices ~ like opening the Exchange in the middle of the night to insert trades ! or else some brokers would have gone bankrupt on their positions !

In 1996 even I faced such a situation with BSE ~ I was deprived of Rs 3 lakhs in early morning intra day trading profits on the newly listed Bank of Baroda when despite a clear notice that partly paid up shares trading and fully paid up shares trading have do be done in separate Codes,many brokers traded in just one code and suffered losses~ they quickly approached BSE Authorities to cancel the trades ~Mr R C Mathur was the ED at the time  and he took a unilateral decision to do so without even talking with the counter party Brokers whose clients,me being one of them,had made the profits ~ I was livid and spoke directly to Mr Mathur as my Broker was unwilling to take an aggressive stand ~ Mr Mathur had the arrogance and audacity to say he need not have to talk or consult with Brokers before making any decision ! ~ I told him with such an attitude he would not last long  as ED and God help BSE while he was there ! ~But he did last another two years before  He had to take the fall for the 1998 fiasco for Harshad Mehta’s trading and payment crisis on BSE in BPL,Sterlite and Videocon

Given their Closeness with Brokers and past precedence of going out of their way to help them, BSE certainly would have had a soft approach with Emkay

Emkay Bad Luck it had to happen on NSE  and not BSE ~ BSE did not have depth for such Nifty basket Shorts at the time !

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

Lord Mahavir

Wishing all of you a Joyous Mahavir Jayanti and do reaffirm to Live a Noble Life

Practice ,not just Believe in

• Living a Life of Absolute Truthfulness & Honesty
• Austerity
• Humility
• Taking Full Responsibility for all your Actions
• Donating in Kind & Knowledge
• Not Harming even a Fly
• Three Fold Path of Right Conduct,Right Faith and Right Knowledge
• Meditation
• Respecting and Taking Care of the Elderly
• Mentoring  & Guiding the Youth of Today to Think & Live Right to Create a Better Today & Tomorrow

As Moliere so well put it ” It is not only for what we do that we are held responsible, but also for what we do not do” 

Praying for all of Mankind this Day……..

Congrats Guys ~ must confess was a little concerned when you took on this challenge

Awesome Auckland Friends the Waghs,along with their Friends the Maheshwaris,walked 100 kms Non Stop last weekend  for Charity !

They called their Team of 4,Centurions ~ what else !

They trained for it for months and finally walked 100 kms nonstop to complete in 31 and a half hours well inside the stipulated 36 hours ~ perfect recipe to live now to be a 100 !

The Oxfam Trailwalker 100 kms Walk was in the scenic  Taupo Lake Area of New Zealand,around 300 kms from Auckland ~ With a perimeter of 193 kms ,Lake Taupo is the largest lake in NZ and was formed thousands of years ago by a volcanic eruption of Mount Tauhara which rises 3459 feet and is considered yet to be dormant and not extinct

Over 300 Teams took part  and all began the Walk together on Saturday morning,April 6,2013 each with a Support team that tended to their First Aid,Food and even Physio needs ~ some younger teams even ran the distance inside hours ! ~ soon the teams were spread far and wide

The  Waghs are in seventh heaven as they describe the Experience ~ they had to walk Forest Trails through the Night with the Path lit up by their Head Lamps  ~ they’ve promised to send us some awesome photos of themselves,more than the two I took off the fb as above

It was Awesome ! they say ! ~ a once in a lifetime experience ! though Oxfam does hold such Endurance Walks  as an Annual Event in many countries around the World~ will relive this in person when down in Mumbai in May

Again Well Done Guys ! Cheers !

P S ~ Next time you Waghs are down in India and we again go away together for the weekend,you’ll walk the 100 kms  from Mumbai to Khandala while we take the car ! ~ for if we walk with you (consider this an extinct volcano so no posssibility even otherwise),our stops will at least be early morning Matunga for Idli,Khopoli for Batata Wada ,Panvel for Mcdonalds…….

Sensex down to 18200 levels ~Yet expect it to sing a Sweet Song ! ?

Seven Equity Pointers to consider to be Proactive & Reactive in protecting your wealth while growing it

Better to be Safe than Sorry while continuing to enjoy equities

Sensex Web April 2013