NSE News - Latest Corporate Announcements

Tuesday, November 10, 2015

How Are We Doing Diwali 2015

Wishing all Investors and readers a Healthy and Prosperous New Year!.. Let us start with the review of our performance.

Its been 6 yrs (2009 to 2015) and looking at the data of recommendations.
1. considering an investment of 10,000 in 28 stocks ie. 2,80,000 the stocks discussed in the message board have given an absolute return of 158.75% that's an avg of 30.74% per year on invested capital(Including dividends). 
Invested capital: 2,80,000.00
Current Value: 7,24,513.00

2. The NIFTY (Absolute: 82.50%, Annual: 12.79%) & SENSEX (Absolute: 82.72% & Annual: 12.82%)
this clearly shows that if we do invest with value investing principals on a long term basis the returns are  worth the effort and one can expect to do better than the index.
Index Annual Return: 12.82% add another 2% for dividend ie 14.82%
Stocks Discussed in Blog Annual Return: 30.74%(dividend included)
Difference:  15.92%

3. Surprisingly my Recommended Best Buy stocks : GAEL,Jayant, NHPC & Tata Comm) have fared not so well.  giving an annual return of 9.32% 

4. hypothetical situations:
- If invested only in profit making stocks returns would be: Absolute: 253.04%, Annual: 48.76%
- If invested only in loss making stocks  returns would be: Absolute: -ve 30.56%, Annual -ve 4.88%
- If invested only in dividend paying stocks returns would be: Absolute: 184.36%, Annual: 35.84%

Total Stocks: 28
Loss making stocks: 9, Ratio: 32.14%
Profit making stocks: 19, Ratio: 67.85%
Avg no of days invested: 1884.71 days (5 yrs 2 month)

Takeaway: Investment of 2,80,000 (10,000 invested in each of the 28 stocks discussed in the blog)  would have in 6 yrs become 7,24,513.30 (PN: some stocks have given rights which would have resulted in additional investment capital) giving an avg of 30% return every year.. This is a very good number and if we can continue to produce these kind of returns on a long term basis it would be phenominal!!
I doubt that we can continue to produce such great returns .. but long term I'm sure we can beat the index.

Our Data indicates investing only in dividend paying companies is a great investing principle

I must add.. Manugraph India which has been reporting losses for past few yrs but still continues to pay dividend even during these loss making years is a good buy at current prices.. (CMP is below our recommended price in 2010)

Dividend payment also indicates a management which is willing to share the wealth with shareholders and I think its a great idea to stick to investing in dividend paying stocks..

Recommended Best Buy:
Absolute Return: 50.51%, 
Annual Returns: 9.32% 
Recommended best buy stocks have actually underperformed massively

GAEL has given the best returns Absolute Returns: 113.65%, Annual Returns: 19.34%
Tata Comm has given avg returns: Absolute Returns: 73.52%, Annual Returns: 14.84%
Jayant Agro has given below avg. returns: Absolute: 48.87%, Annual Returns: 8.90%
NHPC has been the real drag giving -ve returns: Absolute Returns: -ve 34.01, Annual Return : -ve 6.35%
NHPC indicates how important it is to buy at the right price.. right now NHPC CMP: 17.70 is a great price to add on for the long term. In hindsight ..I have a better understanding that though Hydro power plants are the cheapest producers of power but that is on the long term.. initial capital investments are high and depreciation eats up a lot of earnings.. having said that over the long term (as capital investment decreases to zero) we can see NHPC giving out huge amounts of free cash.. its said that the first hydro power plant still produces energy.. so NHPC is truly for the long long term...

Recommended Best Buy stocks are all dividend paying stocks and over past 6 yrs improved their fundamentals (increasing Reserves). and from our own data we know that dividend paying stocks give good returns.. I think the "Best Buys" still have not yet reached their full potential and are worth investing in at current prices..
Tata Comm though rarely discussed is also a great company.. with the largest network of Fiber optic cable network in the world (some say 25% of worlds capacity) also with the largest amount of end points Tata comm is already the largest carrier of voice traffic in the world,  Tata Comm has -ve "Net Current Assets" which means its working capital requirement is NIL. Tata Comm management has front ended all its expansion plans which gives it the first movers advantage .. giving it a moat which even well established names will have tought time cracking.. SPRINT, AT&T & some 60+ odd telecom carriers world wide use Tata Comm  network to provide telecom services to their clients... Tata Comm is a play on the "data driven future" 

Jayant Agro Organics: the most written about stock in this blog.. and surprisingly has very little coverage in the media .. according to me is a definite multibagger. Uniquely placed as India produces 80% of worlds castor seed (Castor seeds is the raw material for Jayant agro's speciality chemicals derived from castor oil) 

Castor oil according to Indian Institute of Chemical Technology - Hyderabad can be used to derive 1000+ chemical intermediates to replace "Crude oil" in the chemical industry.

Jayant Agro had purchased the Govt of Gujarat Castor Seed Crushing plant in Banaskantha Gujarat. Now Banaskantha produces close to 200,000 Metric Tonnes of castor seed which is equal to the total castor seed production of "China" the 2nd largest castor producing country.. now Jayant is the largest processor of Castor seeds in the world.

Jayant has also formed alliances with Arkema (French Speciality chemical company and largest consumer of castor oil in the world:- Ihsedu Ahrochem: Jayant:75.1%, Arkema:24.9%) 

Jayant has forward integrated to produce high value added Castor oil based polyols: Vithal Castor Polyol:  Mitsui Chemical, ITOH OIL JV: Jayant 50%, Mitsui Chem:40%, ITOH Oil: 10%)

Jayant has over the years built a moat by backward and forward integration.. now its time to enjoy the fruits of years of hardwork... I see a more assertive management with news reports trickling in.. 
midcap companies)   ranking of 500 companies. Jayant Agro 7 yrs Avg. ROCE (Return on Capital Employed): 26.32%, Consistent dividend payout since inception 21+ yrs is a real Hidden Gem..

Suggestion: Invest in all the recommended best buy's as they are still very attractively priced.

Outlook: Outlook for demand is "GRIM" specially world wide due to BASEL-III. Though Basel-III is supposed to help prevent a banking related "financial crisis" .. BASEL-III regulations are going to reduce the ability of the banking industry to rotate money.. resulting in slower growth and tepid demand.

World wide demand will stumble (unless the US FED Raises Rates by 50-75 basis points.. yes raising rates by FED could result in 2-3 trillion dollars to flow into the US/world financial system.. which could hypothetically cause devaluation of dollar and massive inflation - in USA) US FED Banks hold 2.5 Trillion in excess reserves with the FED   well thought out Stocks are still going to be the best bet.

India is still going to see a problem of excess demand (As most of the population is still unbanked and live beyond the reach of banking/finance) and basic needs are still not fulfilled.  Integration of the rural masses to financial system is going to be crucial(easier said than done in a cash economy). 

Inflation is here to stay for next few yrs.. even though the NDA govt has reduced the rate of Monetary expansion its running at 11% (16% during UPA).  Tier -II bonds of banks is an interesting space for fixed income.   There is always misallocation of Assets and Asset Reconstruction Companies is also an interesting space.. A well run bank in an unbanked country like India could be available at attractive rates due to BASEL-III regulations causing a sharp rise in NPA..

=Happy Investing

PN: these are my personal view points and not a recommendation to buy or sell. Please consult a SEBI registered financial advisor. This blog is a place for me to reflect on my investment view point over the passage of time for my own personal understanding.

Thursday, October 15, 2015

Jayant Agro Organics: Short Term Debt..is it really Bad/Good Debt??

Jayant Agro Organics:
CMP: 112
Market Cap: 168Cr
Book Value: 146.78 (consolidated), 124.49 (stand alone)
Sales March 2015: 1580.71Cr
Net Profit: 10.52Cr (Consolidated)
Cash Flows From Operations (March 2015): +175Cr
7 yrs Avg. ROCE: 26.32% (Consolidated), 25.34%(Stand Alone)

Whenever I suggest Jayant agro to other investors stating all the Strong points of Jayant agro.
- Largest Player in castor oil and castor oil derivatives space in the world.
- Unique advantages as India produces 80% of world's castor seed
- Consistent dividend payout since inception ie more than 21yrs of dividend payout.
- JV with market leaders like Arkema, Mitsui Chemical, ITOH Oil.
- Castor oil & its Derivatives are well established as Green Chemicals
- Promoters hold US Patent for efficient production of Sebacic Acid.

One of the question almost always get pushed back at me was..
just look at the Debt 250Cr Huge!!
add to that low Net Profit margin 1-2% its not worth the risk..

Well today lets look at the Huge debt !! and try to understand why its there and is it really Good/Bad Debt??

If you go to CRISIL which is the credit rating agency that has rated Jayant Agro's Debt. We get the following info (link)

Jayant Agro:
Long Term Rating: BBB+/Stable (Reaffirmed)
Short Term Rating: A2 (Reaffirmed)

Bank Facilities:
Letter of Credit & Bank Guarantee: 70 million (7Cr) Rating: A2
Long Term Loan: 492.8 million (49.2Cr) Rating: BBB+/Stable
Packing Credit: 2539.7 million (253.97Cr) Rating: A2
Proposed Long Term Bank Loan Facility: 2.2 million (22 lakhs) Rating: BBB+/Stable
Standby Line of Credit: 395.3 million (39.5Cr) Rating: A2
Total: 3500million (350Cr)

If I look at the various bank facilities listed in the CRISIL rating for Jayant Agro, the largest component is a short term 253.97Cr Packing Credit with A2 credit rating. Considering the total rated debt is 350Cr 253.97Cr is like 72% of the credit line for Jayant agro. if we understand Packing Credit we will understand Jayant Agro's Debt..

What is Packing Credit?
According to RBI (Reserve Bank of India): Packing Credit is credit provided by a bank to an exporter on the basis of Letter of Credit opened in his favour...

Letter of Credit : The LC should be irrevocable and issued by our correspondent bank abroad or a bank of international repute. Genuineness or authenticity of the LC should have been verified.

So the 72% of the Short term loan (254Cr) actually indicates that Jayant agro has a Confirmed Export Order (Letter of Credit) in hand worth 254Cr and this is a credit scheme for exporters provided by RBI.

Now that we know "Short Term Debt" is nothing but an export credit backed by a letter of credit issued by a bank? So is Jayant agro "Short term Debt" Good Debt or Bad Debt?

Another thing worth observing is the type of rating Jayant Agro debt has.. A2 & BBB+

According to CRISIL: (Rating Definition)
Short Term A2: Instruments with this rating are considered to have strong degree of safety regarding timely payment of financial obligations. Such instruments carry low credit risk.

Long Term BBB+: Instruments with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations. Such instruments carry moderate credit risk.

Export related finance that Jayant has got (Rating: A2) has a higher degree of rating than its "long term Loan" (Rating: BBB+). the RBI guidelines are helping Jayant get export "Packing Credit" at an attractive interest rate.

The return on capital employed (ROCE) is a better measurement than return on equity(ROE), because ROCE shows how well a company is using both its equity and debt to generate a return.

If you see Jayant Agro 7 yrs ROCE its 26.32%  indicating a pretty efficient financial setup..
Even in year ending March 2015 ROCE is: 18.76% which is pretty good considering 2015 Net Profit was the lowest in past 6 yrs.

Conclusion: Jayant Agro Debt is 90% short term in nature and is "Packing Credit" which indicates the debt is backed by a "Confirmed Sale" in the form of Letter of Credit. 

ROCE of Jayant agro for 7 yrs on average is: 26.32 % which indicates that Jayant agro is pretty efficient in allocating its capital (Equity + debt) High short term debt is acting like a smoke screen... 

Jayant's Cash Flows from Operations for Year Ending March 2015 is: +175Cr, longterm debt: 16Cr  Current Market Cap of Jayant Agro is 170Cr.. which means you have a world class castor oil & castor oil derivatives player you can buy 100% stake for less than its "1 year Cash Flows from Operations!!

Jayant agro high short term debt and low profit margins are acting like a smoke screen .. hiding a very efficient allocator of capital (ROCE: 26.32% 7 yrs avg). Jayant agro is very very attractively priced and a Deep Value Buy!! A true Hidden Gem!!

Link: Jayant Agro: Why I Love this 2% Net Profit Business

Monday, October 12, 2015

Gammon India: worth it!

Gammon India
CMP: 13.28
Market Cap: 180.30Cr

Gammon India is one of the largest civil engineering construction companies in India. Gammon India can also lay claim to having built the maximum number of bridges in the whole of the commonwealth (commonwealth is a term used for countries ruled by the British)  First project started in 1919 was the piling and civil foundation work for "The Gateway to India"  Gammon India was founded on 1922.
Other important landmark civil engineering projects are:
- India's first cable-stayed bridge at Akkar, Sikkim
- The longest railway tunnel in Asia for Konkan Railway at Ratnagiri.
- Mahatma Gandhi Setu Bridge spanning the river Ganges, between Patna and Hajipur in Bihar (Commerative stamp issued by Indian Postal department in 2007 "LandMark bridges of India)
- Terminal Building of Sharjah International Airport UAE.
- Elevated viaducts for Delhi Metro Rail Corporation
- India's First Second Generation Prototype Fast Breeder Nuclear Reactor

The list is endless .. the latest addition is going to be the Signature Bridge Across Yamuna river in Delhi 
So all said and done Gammon India is a well established name in civil engineering in India. 

Lets now look at why Gammon India is quoting at such a dismal price (Market Capital of 180Cr ) 

If we look at the balance sheet we see that.
1. Gammon India has a -ve networth of -432Cr
2. Total Debt is 10,306Cr
3. Has been reporting Annual report for 9 months for past 2 yrs 
4. 2014-2015 year end has been extended to 18 months ie Oct 1,2014 to March 2016

Income statement also has only a sad story to tell.. 
1. past 5 yrs Sales has dropped by 50%  8162Cr(2011) to 3885Cr (2014 [9 months])
2. Net profit is negative for past 4 yrs 

Lets look at Cash flows.. and its gets a little bit interesting
1. +ve Cash flows from Operations for past 3 yrs 
2. Company has been able to generate +ve cash flow from "Finance Activities" 
3. Gammon has not stopped deploying cash in new projects (-ve Net Cash From Investing Activities)

Clearly though Gammon India has been reporting losses for past 4 yrs, it has been able to scrape through as far as Cash Flows is concerned with finance still trickling in..

Price Chart: 
Price chart is something we already know about (180Cr Market Cap) 

1. Gammon India stock price was at its peak in 2008 of about 790/- per share..
2. During the financial crisis 2008-2009 it fell to its teens and then recovered to 200+ levels 2009-2010
3. 2011 -ve earnings started and company has been downhill since then.
4. 999 Day EMA(5 yrs) Exponential moving avg is 47.47 
5. 50 Day EMA is 14.02
6. 100Day EMA is 16.05
7. CMP: 13.28

Well there is no doubt that stock price is in the dumps. topline for year ending Sept 2014 was 3885Cr 
Market cap of 180Cr is like 4.6% of its Last reported Annual Sales..

Ofcourse 180Cr Market cap has no meaning cause there is 10306Cr of debt and 8770Cr of Contingent liabilities.. 

So 2 things is clear .. 
1. Market cap is peanuts for Gammon India considering that its a pre-independence Era company and is well established as a Civil construction Engineering company.
2. Gammon India is in dumps with 10306Cr debt and 50% drop in Sales in past 5 yrs... picture is Bleak!!

I think as investors one question in my mind is "Will it recover" Can I buy this worthless piece of paper and turn it into a crown jewel??

My answer is Resounding YES!!

1. Gammon has done a Corporate Debt Restructuring (CDR)
2. Cut-off date of CDR was 1st Jan 2013
3. Total debt aggregating 14,814Cr has been restructured. (both Fund & non-fund based)
4. CDR package provides a 10yrs repayment plan (including 2 yrs moratorium)
5. Interest rate has been lowered by 1% for 15 months ( that would be till April 2014)
6. Waiver of penal charges till date of implementation
7. Additional funding by way of priority loan. 
8. All securities envisaged under the CDR scheme have been created.
9. Promoters have been issued Zero Coupon (zero interest) Compulsory Convertible Debentures worth 100cr. So the promoters have bought in 100cr additional investment in equity of Gammon India on 26th May 2015 these CCD will be converted into shares @ a price of 25.30 per share.

10. On 14th August 2015 Gammon India has decided to restructure and segregate its businesses and created 2 wholy owned subsidiaries 
   a) Gammon Retail Infrastructure Limited (GRIL)
   b) Transrail Lighting Limited (TLL)
The rationale was..
   a) To create sector focussed companies
   b) To enable investments by strategic investors
   c) De-risk business from each other
   d) Deleverage balance sheet of the company.

Gammon Retail Infrastructure Limited (GRIL): Transfer & vesting of the company's civil EPC undertaking ie. Civil Engineering, Procurement and construction business carried on by the company in roads, hydro-power, nuclear power, tunnels, bridges, buildings, cooling towers, chimney and other sectors as a going concern, which shall include all the properties, rights & powers and all debt, liabilities, duties and obligations comprised in and pertaining to the EPC business into GRIL against issue and allotment of equity shares by GRIL to GIL (Gammon India Limited)

Transrail Lighting Limited (TLL):  Transfer & vesting of the company's T&D Undertaking (as defined in the scheme) comprising of the Engineering, Procurement and construction business of the company in the Transmission & distribution sector, including the tower testing facility located at Deoli and the tower manufacturing facility located at Baroda and Nagpur, but excluding the tower manufacturing facility located at Deoli and the conductor manufacturing facility located at Silvassa, as a going concern,  which shall include all properties, rights and powers and all debts, liabilities, duties and obligations comprised... to the T&D business into TLL against issue and allotment of equity shares by TLL to GIL 

basically the company has created 2 100% owned subsidiaries which are Healthy (a going concern) and debt liabilities of these 2 Healthy companies have been separated (for sale in the future or to attract investments..)

11. On 27 Aug 2015 Step down subsidiary Gammon Infrastructure Projects Limited (GIPL) has divested its stake in 9 projects .. this will result in cash inflows of 563 cr plus advance waivers of 285cr another divestment of 50% stake in Vizag Seaport Pvt. Ltd. will result in 62.5cr, plus future cash flows of  100cr based on achieved milestone. So that should see 1000cr inflow into Gammon India Limited.

12. Gammon India on 21 Aug 2015 announced receipt of 397cr road project from Public Works department.

13. On 24th Sept 2015 Gammon India announced getting a 1799.99cr NHAI road project.

All these activities donot confirm that Gammon India is solvent. It does however indicate that the company is taking steps to reduce its debt burden. creating separate subsidiaries GRIL & TTL which are considered "A going concern" all point to positive development.

Though complete recovery will take years.. I think this is a good time to buy into Gammon India. If Gammon India was not in Financial difficulty we would have never seen such low price.. the brand is intact and we are still seeing new order flows.. Long term 5+yrs could be a multibagger.

Sunday, August 23, 2015

Thrive: What On Earth Will It Take?

Foster & Kimberly Gamble (P&G promoter family) have released this interesting movie/documentary... must see for all...

Interesting part is the "torus" .. I found another interesting site "Kesh Foundation" which is talking about "Plasma Energy" which is also about Free energy and Torus...

News is there that Iran has captured 3 different DRONES of USA in mint condition... which is surprising as these drones have some kind of built in self destruct sequence to prevent capture of sensitive technology..

Also recent Nuclear treaty with Iran by western nations which will result in free flow of trade.. and that Iran has been alloted the big brother status in middle east sidelining long standing ally Saudi Arabia is a big shift..

Has Iran access to sensitive technology.. which America might be interested in..?

Published on Mar 24, 2015
The new "Free Energy" technology of Iranian born nuclear physicist, Mehran Tavakoli Keshe, has apparently rendered The Western Military Machine obsolete, as demonstrated in several military confrontations over the past few years, most recently with the simulated sinking of the USS Theodore Roosevelt Super Aircraft Carrier. incidents include:
1. The December 2011 Interception and bringing down and displaying on Iranian TV of America's most advanced drone weapon, the Bat-winged, high-flying and hard to detect, RQ-170 Sentinel drone. The Iranians displayed the immaculate gleaming white drone that looked straight off the production line and had just been plucked out of the sky.
2. The November 2014 disabling of the high tech AEGIS Class USS Donald Cook by a single Russian SU-24 Fighter Jet, in the Black Sea
3. The March 2015 simulated sinking of the Super Aircraft Carrier the USS Theodore Roosevelt by a French Submarine armed the technology and
4. Apparent subsequent chasing and disarming, by Russian Subs of the USS Theodore Roosevelt as it headed to the North Sea to engage Russian buildup in the area, forcing it into unscheduled port.
The defensive weapons technology that has now rendered the West, including the United States incapable of waging global war is called the Magrav Technology weapon and the Russians, among other nations have fully implemented this technology into their defensive capabilities, while the United States and its Western Allies have failed to develop counter measures to it.
Mehran Tavakoli Keshe, the inventor of this technology, is founder of the Keske Foundation which is tasked with dessiminating his new technology throughout the world, for the betterment of mankind.

Kesh Foundation..

https://www.spaceshipinstitute.org/ (to teach Plasma technology) 

So this is controversial but maybe the need of the hour.. and is it why " Oil is being pumped and dumped " .. after all who will buy oil after we get "Free Energy"

Mission and Vision: Kesh Foundation Space Ship Institute..

The KF SSI is set up to teach to industry, organizations, and individuals, how to develop systems and technologies based on the Keshe Foundation knowledge.

Nestled amidst the beautiful shores of Bari, Italy, the Institute is poised to become a central hub in the spreading of plasma technology and knowledge. With its state of the art, twenty-first century facilities, the Institute will be able to provide students and staff an immersive way to learn the plasma technology, to be the leaders of the new generation of scientists and plasma engineers.

The aim of the KF SSI is to teach and train every individual who goes through the programs, to enable understanding of the full principles of the workings of universal systems. This provides the knowledge to be able to survive anywhere in the Universe, with the peaceful use of the MAGRAV plasma technologies.

The KF SSI welcomes people from all parts of life, from highly-trained experts, to individuals who simply want to learn. There is no pre-requisite for applicants other than agreeing to the World Peace Treaty for peaceful development of the Magrav technologies. The learning environment at the KF SSI is open and adaptive. The emphasis is on developing a deep understanding of principles, rather than accumulating empirical knowledge. Students will be exposed to the basic Magrav plasma principles and related applications of positive gravitational positioning, creation of new materials, production of power, and health benefits.

The KF SSI is primarily a space-based organization, and learning all aspects of survival in space is a priority. Students and graduates will find job opportunities in support of KF SSI space technologies, and in spin-off companies of service to mankind on Earth. The unique combination of theoretical knowledge and practical training, will enable KF SSI students to develop an understanding of the Universe not available anywhere else.
I think we all need to send our top of the class experts to Kesh Foundation and learn this latest Plasma technology .. which can be used for space travel, medicine, (food/energy for body on long haul interstellar flights).. I'm sure the world can  live in Peace.. and in Prosperity..

Saturday, August 01, 2015

Book Review:The Rigveda Code By:-Rashmi Chendvankar

600 BC…. Three Hundred years after the epochal Mahabharata War... India is still haunted by the shadows of the devastating conflict of the Kuru cousins, which almost destroyed the entire land.... The epicentre of power has now shifted to the kingdom of Vrij, situated on the northern banks of the Ganga, ruled by an ambitious king who would not stop at anything to lay his hands on the most powerful weapon of the Mahabharata age... Soaring ambitions have once again brought the ancient civilisation on the dark brink of another full-scale war.... 

Against this backdrop, a warrior princess is set to change the political legacy of Ancient India – guided by her destiny... and a phenomenal man, who lived three hundred years before her... 

A man who is considered God today, but whose greatest contribution lies buried below layers of ancient history...

And buried below these very layers, lies the story of this warrior princess, who unravelled the mystery of His code – an eternal way to establish dharma in Bharat...

Will the princess change the way kingdoms in India are ruled? What is the destiny of Bharat?

This is a work of fiction, inspired by elements of Indian mythology and Ancient Indian history. The geographical references mentioned in the book are however factual.

1. The Unique 'Rajyoga'
2. The Lost Chakra
3. The Kingdom of Kosal
4. The Great Guru of Archery
5. The Battle of Kaawar
6. The Wise Old Man of Bhoganagara
7. The Visitors From Takshashila
8. The Secret Revealed
9. Love Beckons
10. The Kshatriya Code
11. The Conspiracy of Kosal
12. The Soulmates
13. Dawn and Dusk
14. The Capital Under Attack
15. The Wish of Vasumna
16. The Words of The Lord
17. The Seige of Sravasti
18. The Shadows of The Great War
19. The Seige of  Vaishali
20. The Auspicious Chakra
21. The Rule of The Ganarajas
Epilogue:2012 Archeological site at Vaishali, Bihar

About the Author:
Rashmi is a legal professional in her early thirties. She is a commerce graduate, a law graduate and a qualified company secretary. She currently heads the legal and secretarial department of an IT company in Mumbai.

Rashmi has been an avid reader of ancient Indian history. She strongly feels that history textbooks are dry and limited versions of exciting stories, which should be excavated and brought to young readers. Her fascination with an amazing event of ancient Indian history which took place in 600 BC and its intriguing connection with the Mahabharat war, led her to write her debut novel “The Rigveda Code”. 

Rashmi stays in Mumbai with her husband, Lalit, her three year old son, Sohum, and her in-laws, Maya and Mohan.

Book: "The Rigveda Code"
Publisher: Partridge India www.partridgepublishing.com/india
Stories are told to convey important underlying points which are to be carried over generations. The author in her book "The Rigveda Code" helps us decode the meaning of "the last Hymn of the Rigveda".

...Assemble, speak together, let your minds be all of one accord,
As ancient Gods unanimously  sit down to their appointed share..
The place is common, common the assembly, common the mind,
so be your thought united.
A common purpose I lay before you,
to worship with your offerings..

One and the same be your resolve,
and be your minds of one accord,
United be the thoughts of all, that all may happily agree..

Its a very well written book and an interesting read no doubt with good storytelling... The good part is that we are all looking back at our roots to get a better understanding of our true self..

If "Lord of the Rings" is used as an educational book .. "The Rigveda Code" would make an excellent educational book giving us(children) a glimpse of our rich heritage..

Did I know the meaning of the Last Hymn of "Rigveda" before reading this book?...... NOPE

Do I now understand the meaning of the last Hymn of "Rigveda" after reading this book??.. A definite YES!!

Saturday, January 31, 2015

Anil Gupta: "Emerging Frugal Innovations in Energy"

Tuesday, January 06, 2015

Global Natural Oil Polyols (NOP) market is anticipated to reach USD 7.92 billion by 2020

SAN FRANCISCOJanuary 6, 2015 /PRNewswire/ --
I thought the data that I published was free sample info.. but it seems donot  have the rights to publish it.. so I've removed the data 
from:Saurav saurav@grandviewresearch.com
date:Tue, Jan 13, 2015 at 11:52 AM

Dear Team,
It has come to our attention that content from our website (www.grandviewresearch.com) has been posted on your website, without authorization. Please refer to the link below:
We hereby request you to delete this on an immediate basis as Grand View Research Inc. has not authorized publication of this content anywhere on the internet, by any company or individual.
Thanks & Regards
Saurav Chakravorty
7755984772 / 9730655543
Grand View Research

=happy investing