GauravBlog Logo

A Lion’s eye on the Bulls and Bears

“In India, companies may fall sick, but promoters rarely do!”

Gaurav's Blog

Categories

March 2016

Anil D Ambani Reliance Group~Market Cap & Debt ~ Defence to its Defence

Have a Look at the Market Cap (today closing March 28,2016)& Consolidated Debt (September 30,2015) of these Five Listed Companies of Anil D Ambani

Name Of The Company

Market Cap (Rs.Crs)

Total Debt (Rs.Crs)

Reliance Power

13015

31428

Reliance Infrastructure

13747

24645

Reliance Capital

9117

22730

Reliance Communication

12457

35254

Reliance Defence

5098

6884

Total

53434

120941

Rs 120941 crs was the Aggregate Consolidated Long & Short Term Debt of Anil Ambani’s Reliance Five Listed Group Companies as on September 30,2015 while today’s Market Cap is Rs 53434 crs.Aggregate it and you’ll get Enterprise Value without adjusting for any Cash    

Reliance Defence (erstwhile Pipavav) has come into his fold now and a turnaround is expected after CDR was approved ~ RCom is planning to reduce Debt substantially by selling Assets like it’s Tower Business.It also is being supported by Big Brother Mukesh Ambani’s tie ups for Jio Roll outs etc ~ RPower has just declared and paid it’s maiden interim dividend of 10% in December 2015 but continues to struggle to commission Samalkot Power Plant on non availability of Gas ~ Rinfra & RCap are the relatively stabler companies

As long as his companies keeps servicing debt the Banks who have lend will not have to classify the Loans as NPAs….In fact with Anil Ambani planning huge Defence Sector Investments and Growth in his other Companies the aggregate Debt may increase even after Asset Sell offs

Problem is that Anil Ambani has not been enjoying good Investor Credibility after wealth destruction in RCom & RPower & suspected involvement of top management in the 2G Telecom Scam.Investigation continues

The Group’s Market Cap is Rs 53434 crs ~ Compare this with Big Brother Mukesh Ambani’s Reliance Industries that closed today with a Market Cap of Rs 330654 crs

Now his big Focus is on Defence with India having embarked on a Huge Defence  ‘Make in India’ Endeavour opening out FDI  Cap to 49% in the Sector

None of Anil Ambani’s Companies have approached it’s shareholders or the Public for funds after the Reliance Power IPO at Rs 450  in January 2008

None have as None could !

The Reliance Power IPO was a huge obscene premium assault on the Public from which the Public has yet to recover (Quotes at Rs 47 today after a Bonus Issue in 2008 itself  from the Premium collected that adjusted the Price to @ Rs 270!) .The Issue was hyped by the Investment Banker Wolves to create a huge oversubscription.

Of course in January 2011 Anil Ambani had entered into a Consent Plea with SEBI without admission of guilt & was investigated for misuse of Overseas Borrowed Funds and was personally fined and banned access to Capital Markets for a year and Reliance Infra for two years    read more

Warning !!! ~ Caution on Sang Froid Labs at BSE Upper Circuit Rs 8.71 !

Warning !!! ~ Caution on Sang Froid Labs at BSE Upper Circuit Rs 8.71 !

How can BSE even have allowed Sang Froid to be directly listed from October 2015 ! ?

Bulk Trades ~ Lakhs of  Shares Trading Volume ~ Buy Reco being circulated under Share Khan Premium Service  with website as sharkhan.in  which just flashes on your screen repeatedly!!!

PLEASE STAY AWAY FROM SANG FROID LABS

SEBI must investigate how BSE allowed this Listing & the trading patterns in it….Wonder if  the Broking Group Sharekhan  & Pharma Co Ajanta Pharma will ignore that their names have been misused liked this for recommending Sang Froid…..I don’t believe Sharekhan has recommended this….& I dont believe Ajanta Pharma is associated with this company in any way let alone it being recommended as a Venture with it !   

Right Now  this the Trap being set on the BSE Counter for Retail Suckers to buy into  with the reco on mobile circulation stating to buy 10000/20000 shares for  immediate rise to Rs 12/15 in just two days  for this Ajanta Pharma Venture !…Oh ! Stoploss of Rs 7 recommended too ! 

Market Depth (10 Mar 2016)
Buy Sell Qty Price Price Qty 7,84,413 8.70 8.71 16,101 6,47,460 8.69 7,59,942 8.68 5,43,568 8.67 5,16,346 8.66

This Company does nothing ! though it says on it’s website it wants to do this and that !…suppose to be in pharma….has no real business….At March 31,2014 it had no employees (Employee expenses  were only Rs 48000! & Revenue only Rs 1.75 lakhs).KMP were Ajay  & Vijay Kumar Sachdev & and Jitendra H Gohel.

Equity Issued & Subscribed was Rs 5.1 crs but paid up was just Rs 2.80 crs which included forfeited shares.The Negative Reserves were Rs 2.88 crs giving a negative networth at March 31,2014.The auditor was a Delhi Proprietory Firm M Madan & Co who signed the FY 14 Accounts in New Delhi on August 30,2014.There are barely any other Assets & Liabilities

FY 15  Statements show a different auditor,Ahmedabad based Proprietor S Kansal &  Associates who signed the FY 15 Statements in Ahmedabad on April 14,2015,within a fortnight of year closure 

The Equity now shows Rs 5.1 crs & Negative Reserves are now lower at Rs 2.02  crs given a positive Networth of Rs 3.08 crs which has been applied to Short Term Advances of Rs 1.42 crs & Other Current Assets of Rs 1.7 crs ~ no info on how the Negative reserves dropped so much given that topline & bottomline figures are worse than Lemon Juice Collections by a Street Vendor !…how did subscribed equity of Rs 5.1 crs which was paid up just Rs 2.80 crs become paid up Rs 5.1 crs?    read more

IDBI Bank @ Rs 68 ~ Will Govt really let go?

IDBI Bank @ Rs 68 ~ Will Govt really let go?

In 1995  IDBI the DFI came out with an IPO at Rs 130.I had given it the notorious sobriquet ‘Instant Death By Investment !’ as the Pricing was way to High.The IPO was bailed out by UTI at the time in a quid quo pro really as then IDBI subscribed to Unit 64 at the high purchase price which was a scam in itself as it was 60% higher than the actual Unit 64 NAV which hovered around par of Rs 10 !

Then in 2004  IDBI the DFI merged with IDBI Bank  and in 2010 I had recommended it at Rs 130 in 2010 for several reasons.It did climb past Rs 200 the same year but then disappointed and started it’s downward slide as NPA Demons begin surfacing big time.

Last Month in the second week of February these NPA Demons caused the Share Price to drop below Rs 50

On February 29,2016 our  FM made this  specific budget phraseology for IDBI :

“The process of transformation of IDBI Bank has already started. Government will take it forward and also consider the option of reducing its stake to below 50 per cent” 

It was a no brainer for the Share Price to begin rising the same day from Rs 58 levels to cross Rs 60

It’s now moved up @ Rs 68

Here’s the Share Price Trend of IDBI Bank  from 2004 to 2016 (in Rs)

Year

Open

High

Low

Close

2004

62.90

115.00

29.25

109.80

2005

110.95

130.95

76.30

97.15

2006

98.15

110.00

48.50

76.30

2007

76.80

181.00

66.50

165.30

2008

166.50

180.30

53.00

67.65

2009

68.00

140.00

39.75

127.45

2010

128.00

202.25

105.85

164.75

2011

165.75

168.30

77.40

77.80

2012

78.30

121.50

77.15

111.40

2013

112.10

118.20

52.30

66.45

2014

66.85

116.50

52.95

73.15

2015

73.25

95.70

52.45

87.80

2016

90.80

91.15

47.40

68.85

The Book Value of IDBI Bank is over Rs 110 giving the relative Valuation of  0.6….that’s of course one accepts current audited GPA levels of Rs 19615 crs ,that’s 8.94% of Advances and with a 62.92 % of Provision Coverage

Government owns 80.16% of IDBI Bank and if it is open to bring this down below 50% as proclaimed in the Budget by our FM then it begs the question ~ Will they just bring it down but yet retain Management Control or will IDBI really be up for Privatisation and therefore up for Sale ! ?

Quickly the IDBI Employees have voiced their displeasure and threatened to go on strike in the crucial last week of this month of March 2016 which closes out FY 16

Why would the IDBI Employees resist Privatisation or Government diluting it’s stake below 50!?

Seriously ask yourself this ! I reflected and immediately came up two big reasons in my view :

  1. Insecurity of Jobs ~ This is understandable as Employees have huge job security under the Government ~ Bank can Hire but not Fire ~ at best Government can try VRS as they’ve been doing over the years in PSU Banks ~ Connect this with how bloated Government Enterprises really are on workforce be it the Railways or Coal India
  2.  Accountability & Transparency in Operations ~ This would open a Pandora’s Box in the Bank for all the NPAs & who really is responsible in the Bank to have advanced Loans that have turned Bad.Of the over Rs 2 lakh crores advances ,the Bank reportedly has an exposure of  Rs 7000 crs  to the JaiPrakash Group,Rs 15000 crs to the Essar Group and @ Rs 925 crs to Kingfisher Airlines.In fact the ED is investigating Vijay Mallya & his Kingfisher Airlines for Siphoning off  @ Rs 300 crs Funds from the Rs 900+ crs IDBI Loan      

So will our Government be influenced by the IDBI Employees opposition & not go ahead with it’s plans to sell it’s stake in IDBI Bank to bring it below 50% ?…the Budget already shows FY 17 Disinvestment Target of Rs 36000 crs + Precise Strategic Disinvestment of Rs 20500 crs.This would  include  IDBI Bank Stake Sale planned read more

Sharapova admits failing drug test at the Australian Open~Questions arise

Maria Sharapova Tennis Goddess in a Bikini

Make no mistake…The 28 year old Russian Maria Sharapova is a stunner as you’ll can see but now she’s stunned all of us with admitting to failing the drug test at the Australian Open in January 2016

I’ve been a great fan of Tennis Superstar Maria Sharapova & willed her on to win everytime she steps on court …even let it be in 2014 when she did not know who Sachin Tendulkar was and later apologised for it !

But…

Her failing drug tests at the Australian Open raises serious Questions

Sharapova says she has been taking Mildronate,also known as Meldonium for 10 years after she was regularly falling ill. She had a magnesium deficiency and family history of diabetes.

She has apologised  & taken full responsibilty in a news conference in LA

Consequences have been immediately severe :

  1. She has been provisionally suspended to play Professional Tennis
  2. Big Sponsors like Nike,Porsche & Tag Heur have suspended association with her that will cost her Millions of Dollars Endorsement Fees

While I wish this 28 year old  is not forced to retire & does get to play World Grand Slam & ATP Tennis again (she can’t be suspended from wearing a bikini though!) my mind is perplexed with two questions :

Question 1

For the last 10 Years was Maria Sharapova taking Mildronate  also known as Meldonium ,and prescribed by her family doctor,from 2006 because of a health issue as she claims or  because it was a performance enhancing drug as identified as such by World Anti-Doping Agency (WADA) and banned from January 1,2016  ? ~ As a Tennis Superstar her Life is always under a microscope .Then why have we not heard of such a Health Issue that she yet must have for such a prolonged 10 years !?  

Question 2

How many such performance enhancing drugs are yet out there which have yet not been identified as such and therefore not yet banned & therefore consumed regularly by sportspeople for unfair advantage when competing ?  

Some Interesting Extracts from the Guardian on Meldonium & Extent of it’s use by Sportspeople: 

  •  Meldonium is used to treat ischaemia: a lack of blood flow to parts of the body, particularly in cases of angina or heart failure 
  • It is manufactured in Latvia and only distributed in Baltic countries and Russia. It is not approved by the Food and Drug Administration for use in the United States and is not authorised in the rest of Europe 
  • It increases blood flow, which improves exercise capacity in athletes
  • WADA found “evidence of its use by athletes with the intention of enhancing performance” by virtue of carrying more oxygen to muscle tissue 
  • The decision to add meldonium to the banned list was approved on 16 September 2015, and it came into effect on 1 January 2016. Wada had spent the previous year monitoring the drug before adding it to the banned list
  •  The drug was name-checked in the latest investigative documentary on Russian doping reforms by the German Hajo Seppelt . The documentary referred to a 2015 study in which 17% of Russian athletes (724 of 4,316) tested were found to have meldonium in their system 
  • A global study found 2.2% of athletes had it in their system
  •  It is classed as an S4 substance under the WADA code, which addresses hormone and metabolic modulators
  •  The standard ban under the World Anti-Doping Code is four years
  •  A memo was sent out to athletes by Russia’s anti-doping agency last September informing them of the decision to ban its use
  •  Several athletes have been suspended since the turn of 2016 after testing positive for the drug.  A few of these are Abebe Aregawi, the 2013 women’s 1,500m world champion ~ Endeshaw Negesse, the 2015 Tokyo marathon champion ~ Olga Abramova and Artem Tyschcenko, two Ukrainian biathletes ~ Eduard Vorganov, a Russian cyclist ~Ekaterina Bobrova, a Russian ice dancer.
  • read more

    Kingfisher Airlines NPA~Exposes Political & PSU Banks Nexus to Lend against Brand!

    Kingfisher Airlines NPA~Exposes Political & PSU Banks Nexus to Lend against Brand

    It was clear to me right in 2009 itself of the danger of lending against the Kingfisher Airlines Brand 

    This was my Warning on July 23,2009 

    Borrowing against Brands !…Interesting,but Risky area opening out !

    Thursday, July 23rd, 2009

    Multiple Posts on my views on the KFA Debacle &  Vijay Mallya have been categorised above under Kingfisher Airlines ~Machiavellian Mallyas

    KFA was my case study at several Seminars & Workshops where I warned  that it was on it’s way to becoming like Global Trust Bank that vapourised and the over 2 lakh shareholders should exit immediately and potential aggressive investors should not get seduced to buy into it !

    Who will now bell the Cat and reveal why the PSU Banks actually lend to KFA,especially under the intangible Brand which Grant Thornton had valued at ,I believe US $ 750 m! ….. the Banks were unable to monetise this to recover their dues !….no surprise here at all !….makes to recall how E & Y had valued in just One Day(Company Law Board had pulled them up for this) the Properties at a value in the Satyam-Maytas Deal to fill the hole in Satyam Balance Sheet ! ….in fact the Banks even converted Part Loan to Equity at Rs 64 !  

    Clearly Vijay Mallya’s Proximity to Political Leaders had a hand when the Loans were given & even till date this Proximity is the reason for his continuing arrogance and brazenness ! …. his Rajya Sabha MP Candidature from Karnataka as an Independent was supported by a few Political Parties just to defeat the Nominee of another !

    I can only surmise that the Glitterrati,especially those who celebrated with him his 60th Birthday in Granduer, & continue to fawn over him and defend him and his son ad nauseum in columns and  on debate panels on TV News Shows have been and/or continue to be beneficiaries of his largesse with public funds,if i daresay ! ~ Nothing is Free !

    Shame !!! ~on these 17 Banks & the many years it has taken them to declare KFA & Mallya as a wilful defaulter  & seek his arrest….investigate who in the Banks was responsible to lend in the first place !…the truth will be revealed then as to why they lend & who made them !

    Shame !!! ~ on those defending Vijay Mallya…a lawyer on a panel says to follow due process of law….another says he will pay !….if the due process of law was followed  in time then Vijay Mallya would have been history by now !….the irony is that the victims,the KFA Employees ( a captain on a panel voiced this) want him free so he’s able to pay them their dues….for if he goes behind bars so goes their hopes!….a stock market scamster comes to mind who was arrested & convicted as he owed the  banks heavily but has been on bail  on an Apex Court Appeal now pending for years and has been able to repay the Banks despite his accounts being frozen ! ~ tacit!? …think about it !….manipulated & rigged stocks & got into trouble….then manipulated & rigged stocks again to repay !….the World is round indeed ! read more

    Congrats TAP GAP 2016 Winner Pushkar for Kaveri Seed @ Rs 325 !

    Congrats TAP GAP 2016 Winner Pushkar for Kaveri Seeds @ Rs 325 !….In less than 2 months it’s already up to Rs 390 with promise of recovering lost ground

    Phew ! it took me quite some time to go through 101 Companies as below that were submitted as below for TAP GAP 2016

    Thanks to all of  you who send in 101 Company entries by January 15,2016 & for being patient till I declared  Pushkar as the winner today ! 

    My single criteria was to assess that which company had fundamental strength to give a 100% return in a tough 2016 ….I also considered if there are vested interests in the scrips who control market trades & I have opted not to go for them….You guys have given me quite a few of these 🙂

    I had finally filtered it to selecting from these Five

    1. Ambika Cotton
    2. Avanti Feeds
    3. Capital First
    4.  Nirlon
    5. Kaveri Seed
    I have decided that one of Pushkar’s three Choices,Kaveri Seed deserves this years TAP GAP 2016 gauravblog hamper It’s already up 20% inside two months and we have 10 months to go in 2016 & I’m quite sure that many from the remaining  100 entries too will outperform & as always I promise to also reward the gauravblog hamper to  the one whose entry gains the highest % in 2016 as at closing December 31, 2016….unless it’s Pushkar again scoring on one of  his other two entries,Larsen & Toubro or Firstsource Solutions !  🙂 Kaveri Seed is a Debt Free  & Cash Rich ( Rs 345 crs at December 31,2015) dividend paying company  which has had a tough drop last year .In fact a year ago in March 2015 it was a strong Rs 1077 (52 Week High) and since then dropped to Rs 300 in January this year on the back of two consecutive poor Monsoon that lowered farm income & the Company had to write off more no cotton seed inventory ,largely maize.Q 2 FY 15 saw a bottomline loss of Rs 48 crs on account of this.Also Royalty Dispute with Monsanto remains an unresolved issue for the Industry A good Monsoon in 2016 will quickly push this Company back into Orbit….it already has got a push with Government Panel proposing a national uniform price for Bt Cotton for 2016 believed to be Rs 800 per 450 gms Bt Cotton packet,incl of trait or license fees of Rs 49.These fees are 74% less than prevailing.It is awaiting acceptance by  the Ministry of Agriculture.This should also help remove Royalty overhang.FY 15 Royalty was Rs 159 crs on Sales of Rs 1161 crs.In FY 16 for the nine months the Company has provided just Rs 37.53 crs as directed by State Governments while the actual liability as per agreement with Service Provide Monsanto is Rs 102.51 crs creating a shortfall of Rs 64.55 crs.The matter is pending in Court between National Seed Association of India & Monsanto which will first decide if Government of India indeed has a right to intervene in fixing MSP & Trait Value…If Government wins then Kaveri Seed is also entitled to get a refund of Rs 200 crs from Monsanto for excess Royalty paid till 2015.If  Monsanto triumps then Kaveri needs to pay out as of date just Rs 65 crs underprovided.It is Debt Free & has Cash Reserves of @ Rs 345 crs as on December 31,2015 ….but whoever wins it will yet be a win win for the Industry & Kaveri as there will be clarity on Pricing & Royalty….Problem is that Monsanto through it’s Indian JV with  Maharashtra based Mahyco,Mahyco Monsanto Biotech has threatened to hold back newer technologies & also re-evaluate it’s presence in India if the Government does not roll back the Plan to cut Bt Cotton Trait Value by 70%….In my view India is too big a Market for Monsanto to ignore & there will be a resolution to this issue    Another Development is a Forensic Audit ordered by SEBI in December 2015 to be conducted by CA Firm  Sarath & Associates based in Hyderabad Company has got a National Footprint with  Brand Loyalty in a high barrier industry   where it takes strong investment in R & D for seeds and a lead time of 7 to 8 years to commercial production .Q 1 April to June Quarter  in any FY is always the crucial quarter as Farmers buy seeds to sow just before Monsoon sets in.Q 1 FY 15 saw Sales of Rs 664 crs down from Rs 827 crs in Q 1 FY 14 & even lower than the Rs 736 crs in Q 1 in FY 13.FY 15 saw 8.4 m packets sold while FY 16 is expected to close under 6 m.FY 17 should see a 20% to 25% climb back. Market Cap is Rs 1158 crs at Rs 390 =>  @ One Year Sales…..Book at 31/12/2015 was @ Rs 133 on a Networth of @ Rs 920 crs Of course there is always the global resentment for increasing use of hybrid seed technology,especially Bt Cotton  & for the Monopoly of Monsanto in this and their dictating terms ….that is for another debate though Here is the List of all 101 Entries and how they have performed till date from your recommended price or  January 15,2016 closing taken if lower
    Sr No. Scrip Name CMP (Rs) Inv. Price (Rs) % Change
    1 Aditya Birla Fashion and Retail Ltd 150.4 212.2 -29
    2 Alicon Castalloy Limited 267.1 302.4 -12
    3 Ambika Cotton Mills Ltd 838.25 816.25 3
    4 Aptech Ltd 56.8 61.5 -8
    5 Arrow Coated Products Ltd 484 683.75 -29
    6 Arrow Textiles Ltd 37.5 49.5 -24
    7 Associated Alcohols and Breweries Ltd 176.3 183.3 -4
    8 Aurobindo Pharma Ltd 701.5 814.75 -14
    9 Avanti Feeds Ltd 402.5 383.5 5
    10 Bambino Agro Industries Ltd (2) 97.95 127 -23
    11 Batliboi Ltd 20.5 24 -15
    12 Bhandari Hosiery Exports Ltd* 5.42 4.77 14
    13 Bhilwara Spinners Ltd 14.25 14.6 -2
    14 Binny Ltd 97 101 -4
    15 Biofil Chemicals and Pharmaceuticals Ltd 6.42 11.35 -43
    16 Biopac India Corporation Ltd 13.65 17.85 -24
    17 Butterfly Gandhimathi Appliances Ltd 186.3 241.1 -23
    18 Capital First Ltd 375.85 381.55 -1
    19 Capri Global Capital Limited 143 183 -22
    20 Coffee Day Enterprises Ltd 235.1 254.3 -8
    21 LT FOODS LTD 200 238.1 -16
    22 Deccan Gold Mines Ltd 35.15 35.5 -1
    23 Donear Industries Ltd 24.9 28.9 -14
    24 Ester Industries Ltd 45.35 65.25 -30
    25 Future Consumer Enterprise Limited 21.4 21.8 -2
    26 Force Motors Ltd 2628 2,658.00 -1
    27 First Source Solutions Ltd 34.45 35 -2
    28 Gujarat Borosil Ltd 76.8 70.85 8
    29 Shree Hanuman Sugar & Industries Ltd 1.11 1.21 -8
    30 Heritage Foods Limited 527 526.5
    31 Himachal Futuristic Communications Ltd 17.7 19.1 -7
    32 Hitachi Home and Life Solutions (India) Ltd 1165 1,087.20 7
    33 IL&FS Transportation Networks Ltd 73.45 80.05 -8
    34 Indian Acrylics Ltd 11.76 10.54 12
    35 Inox Wind Ltd 292.6 317.7 -8
    36 Ion Exchange India Ltd 283 377.7 -25
    37 Intrasoft Technologies Ltd 322.1 327.4 -2
    38 IVP 88 102.5 -14
    39 Jagran Prakashan Ltd 155.65 155.25 0
    40 JK Paper Ltd 42.95 45.95 -7
    41 JLA Infraville Shoppers Ltd 11.58 15.99 -28
    42 Kama Holdings 1250 1,345.75 -7
    43 Kaya Ltd 866 1,041.75 -17
    44 Kisan Mouldings Ltd 19.45 21.3 -9
    45 Kitex Garments Ltd 412.7 583.2 -29
    46 Kotak Mahindra Bank Ltd 667.35 675.95 -1
    47 Kaveri Seed Company Ltd 390.15 324.75 20
    48 Kwality Ltd 102.45 108.4 -5
    49 Lakshmi Overseas Industries Ltd 15 17.1 -12
    50 Lincoln Pharmaceuticals Lyd 163.5 223.9 -27
    51 Lanco Infratech Ltd 5.44 6.25 -13
    52 Larsen and Toubro Ltd 1193.75 1,106.00 8
    53 Manpasand Beverages Ltd 436 448.5 -3
    54 Max Financial Services Ltd 320.5 476 -33
    55 MCX Ltd 840.05 832.05 1
    56 Melstar Information Technologies Ltd 6.27 8.14 -23
    57 MIC Electronics Ltd 19.65 20.45 -4
    58 Morepen Laboratories Ltd 27.75 28.2 -2
    59 MPS Ltd 665 716 -7
    60 Majestic Research Services and Solutions Ltd 65.5 76.3 -14
    61 Multibase India Ltd 203 228.3 -11
    62 Natural Capsules Ltd 92 133.2 -31
    63 NCL Industries Ltd 96.2 120 -20
    64 Nirlon Ltd 192 177.4 8
    65 Odyssey Technologies Ltd 29.5 41.05 -28
    66 Pincon Spirit Ltd 127.8 114.4 12
    67 Radix Industries (India) Ltd 152 205 -26
    68 Rei Agro Ltd 0.53 0.66 -20
    69 Repco Home Finance Ltd 587.9 606.15 -3
    70 Revathi Equipment Ltd 560 684.5 -18
    71 Ricoh India Ltd 598.25 693 -14
    72 Rossell India Ltd 95 116.8 -19
    73 Reliance Power Ltd 46.7 51.05 -9
    74 Rattan India Power Ltd 10.35 10.57 -2
    75 Sanjivani Paranteral Ltd 33 57 -42
    76 Sankhya Infotech Ltd 26.25 37.9 -31
    77 SKM Egg Products Ltd 113.85 150 -24
    78 Srikalahasthi Pipes Limited 214.1 239.2 -10
    79 SSPDL Ltd 48.55 58.45 -17
    80 Stylam Industries Ltd 169.8 188.2 -10
    81 Subex Ltd 9.38 10.3 -9
    82 Sunil Healthcare Ltd 96.3 112.8 -15
    83 Surana Solar Ltd 24 27.8 -14
    84 Syncom Healthcare Ltd 6.25 10.72 -42
    85 Taneja Aerospace & Aviation Ltd 56.8 62.45 -9
    86 Tara Jewels Ltd 46.3 43.65 6
    87 Tide Water Oil (India) Ltd 25099 25,365 -1
    88 Technocraft Industries (India) Ltd 199 212.8 -6
    89 Trigyn Technologies Ltd 63 81.4 -23
    90 Trilogic Digital Media Ltd 16.75 27.4 -39
    91 TV18 Broadcast Ltd 38.8 41.15 -6
    92 Udaipur Cement Works Ltd 9.86 11.51 -14
    93 Uflex Ltd 149.4 156.05 -4
    94 Ujaas Energy Ltd 23.95 21.3 12
    95 UV Boards Ltd 11.46 21.9 -48
    96 Vakranjee 224.75 165.5 36
    97 Vinati Organis 394.7 421.2 -6
    98 Virinchi Ltd 36.75 44.9 -18
    99 Waterbase Ltd 77.65 84.25 -8
    100 Zen Technologies 70.1 94.8 -26
    101 Zydus Wellness Ltd 700.75 800.45 -12
    *Adjusted for stock split

    Once again  ~ Well Done Pushkar  for Kaveri Seed ! ~ I’ve gone with this !

     Your gauravblog hamper will soon be on it’s way to you

    Cheers !

    Disclaimer : Don’t have any direct or indirect interest or holding in Kaveri Seed as of date 

    Scroll to Top