Economy
An Experiment in Rural Reshaping
Manavlok mobilises rural men and women to become beneficiaries by putting in equal time and energy in the current Marathwada drought
 
How many of us are unaffected by reports of the awful water shortage and widespread drought across large parts of the country. Most people are looking to do their bit, at least by contributing to genuine NGOs working to mitigate the plight of people in this crisis and to find solutions for the future. Some, like V Vaidyanathan, chairman of Capital First, chose to hop on to a bus, visit the drought-hit areas, eat at the community kitchen and see for himself the work that was being done before contributing an undisclosed amount. 
 
The NGO he visited is Manavlok, which stands for Marathwada Navnirman Lokayat.  The current Marathwada drought is among the most severe droughts in recent years in Maharashtra; but the problems are not new. Manavlok, which works at Beed district, calls itself ‘an experiment in rural reshaping’, which is what is truly required to bring about changes that last beyond one drought year, or are forgotten after a bountiful monsoon. 
 
Manavlok has an interesting approach to welfare– it believes in providing people with the means for development rather than doling out money to them. Its work is not new nor of recent vintage. The thought behind the organisation dates back to the early 1970s when a young group of socialists began to seek solutions to social and political problems of the rural community and concluded that it can only be achieved with economic change. In 1982, they established Manavlok as a voluntary organisation for the socio-economic upliftment of the rural poor.
 
Over the past 33 years, its activities have grown considerably, but never strayed from the tenet that programmes should be based on the specific needs of the people. Based in the Ambajogai Tehsil of Beed district, Manavlok works in 151 villages of Ambajogai, Majalgaon and Kaij Tehsils.
 
Dr Dwarkadasji Lohiya laid the foundation of the voluntary organisation when he was studying in an Ayurvedic college in Nanded (Maharashtra). His close association with marginal farmers, landless labourers and traditional village artisans helped him understand their problems and it led to his committed work with Manavlok in the early stages, as the founder. The work is continued by Aniket D Lohiya, his son. 
 
In the past few months, drought relief and preparing for the monsoon has been an important part of its ongoing activities. It has started community kitchens in 11 of the worst drought-hit villages to ensure one free meal a day to the needy. In return, at least one member of each family has to do voluntary work (shramdan) for water conservation work in that particular village. Over 167,264 needy villagers had been provided meals until 31st March. This activity is sustained through donations from people.
 
As a long-term water conservation activity, the project ‘Revival of Holna River’ has been undertaken and over 7.5km of de-silting has been done already. The silt acts as soil regenerator for nearby farms. The effort will directly benefit 12 villages through which the Holna River’ flows; other villages around this river will also indirectly benefit by increase in water table and moisture maintenance. A major effort is also on in three villages to build bunds and dig deep trenches to capture rainwater to percolate and recharge the groundwater. 
 
Other than this, Manavlok runs 37 balwadis and conducts night study programmes at 35 centres to help students, especially school dropouts.  Manavlok is also running a Master of Social Work College Beed.
 
You can do your bit by joining these efforts or sending a donation to help people in their hour of need.
 
Manavlok
Dhadpad, Post Box No - 23, Ring Road, 
Taluq Ambajogai, District Beed
PIN 431517, Maharashtra.
Mobile No: +91 9823030005
Phone:  02446 247217
E-mail: [email protected] / [email protected]
Fax:  91 02446 248888
Web:  www.manavlok.org

 

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Stock manipulation: SAR Auto Products

SAR Auto Products, an auto-components manufacturer, got listed on the Bombay Stock Exchange (BSE) in March 2015. It used to be listed on the regional exchanges of Ahmedabad, Vadodara and Pune. As per its annual report for 2015, SAR Auto, which achieved a turnover of Rs2.21 crore in FY14-15 with a production of 43,156 parts, has just four employees on its payroll. Nearly half the revenue is derived from ‘export sales’. In the same financial year, out of Rs28.81 lakh paid as salary and wages, Rs22.17 lakh was the remuneration of the two directors (promoters) and Rs6.63 lakh was paid as employee salaries. SAR Auto reported a net loss of Rs3.18 crore in 14-15. For the past nine-months ended December 2015, revenue was Rs2.09 crore and profit was Rs42 lakh. Despite its poor financials, the stock rocketed on the BSE by 1737%, or nearly 19 times, to Rs241 on 16 October 2015 from Rs13.12 on 5 March 2015. From there, the stock fell to Rs138 on 14 December 2015, down 43% from peak. Despite this fall, the stock is still up 1302%, at Rs184 on 20 April 2016, from its listing date in March 2015. This pump-&-dump operation did not go unnoticed. In March 2015, BSE sought a clarification, to which SAR Auto replied that “the management is not doing any internal activities” and that the price increase of shares “is market driven.” On 31 December 2015, there were just 597 public shareholders. Will the BSE do something more than seeking clarifications?

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COMMENTS

sanjay

2 days ago

Can BSE penalise the promoters and the operators ? Can somebody clarify on Stock rigging and manipulation laws in India ? Such operators need to be booked for criminal action . They are financial terrorists

V ganesan

7 months ago

I have noticed one thing with hdfc twins stock price which is strange.in the recent days.Historically hdfc always trades above hdfc bank.Recently i find hdfcbank share price is stadily rising and hdfc share price is steadily falling.Even hdfc not participated in the recent two month bull run from february to april expiry.I strongly suspect both the companies are going to merge very shortly and the ratio may be favourable to hdfc bank.Which is clear case of insider trading.I REQUEST MONEYLIFE TO TRACK AND TAKE UP THE MATTER WITH SEBI.Otherwise again retail investors are duped by this.

Nifty, Sensex are in the hands of bulls – Wednesday closing report
Nifty has to remain above7,943 for the market to remain bullish
 
We had mentioned in Tuesday’s closing report that Nifty, Sensex were back in an uptrend and that Nifty would have to stay above 7,920 for the index to remain bullish. The major indices in the Indian stock markets were trading flat on Wednesday and closed with small gains. The trends of the major indices in Wednesday’s trading are given in the table below:
 
 
The logjam in parliament, coupled with caution ahead of US monetary policy review and mixed Asian indices, depressed the Indian equity markets on Wednesday. Consequently, the key indices of the Indian equity markets traded flat on Wednesday. The BSE market breadth was slightly tilted in favour of the bears -- with 1,308 declines and 1,220 advances. Investors were seen cautious ahead of the US FOMC (US Federal Open Market Committee) meet and the Bank of Japan (BoJ) monetary policy review. The US FOMC meet assumes significance as it will decide the future course of the US interest rates. A hike in interest rates is expected to lead away Foreign Portfolio Investors (FPIs) from emerging markets such as India. Besides, the unwinding of long positions ahead of the futures and options (F&O) expiry and the ongoing logjam in parliament dampened sentiments. Investors are worried that the logjam might postpone key economic legislation from getting passed.
 
American credit rating agency Moody's on Wednesday retained India's outlook at 'positive' saying the country's history of double-digit inflation, high government debt levels, weak infrastructure and a complex regulatory regime have constrained its credit profile. 
The National Highways Authority of India (NHAI) is set to construct an elevated corridor at the cost of Rs100 crore in Uttarakhand that will offer a big relief to pilgrims undertaking Char Dham Yatra. The one-km long corridor, set to come up in the state's Sonprayag area, is expected to facilitate lakhs of pilgrims heading towards Kedarnath. A private Ukrainian company has been contracted to build the corridor. During Char Dham Yatra, Sonprayag usually experiences huge traffic snarls and the elevated corridor will prove helpful to pilgrims as well as administrative authorities. NHAI's senior official P.K. Mourya said the one-km, two-lane elevated corridor will enable the visitors to even skip Sonprayag during their pilgrimage. It will not just be the state's longest but highest corridor as well. This development is expected to be a boost to the infrastructure sector in the North.
 
Biotech major Biocon has posted profit of Rs361 crore for the fourth quarter (January-April) of 2015-16, registering a whopping 79% growth year-on-year (YoY) from Rs201 crore in the like period a year ago. Revenue for the quarter under review (Q4), however, grew 17% YoY to Rs1,004 crore from Rs854 crore in same period year ago," the city-based company said in a statement on Wednesday. For entire fiscal (FY 20-16), net profit shot up to Rs896 crore from Rs497 crore in previous fiscal (2015), registering 80% growth YoY, while revenue, however, grew 14% YoY to Rs3,570 crore from Rs.3,143 crore year ago. Earnings before interest, depreciation and amortization (Ebitda) for quarter increased 18% YoY Rs.238 crore from Rs203 crore in like period and 21% YoY to Rs903 crore for fiscal from Rs749 crore year ago. "Ebitda (operating) margin remained flat YoY for quarter at 24% and marginally 1% up to 25% for fiscal from 24% year ago," the statement said. Net profit margin 36 percent YoY for Q4 grew from 24% in like quarter year ago and to 25% YoY for fiscal from 16% year ago. Biocon shares closed at Rs570.50, up 1.1% on the BSE.
 
US stocks closed mixed as investors digested gains in oil prices and the newly-released economic data. The Dow Jones Industrial Average on Tuesday edged up 13.08 points, or 0.07%, to 17,990.32. The S&P 500 rose 3.91 points, or 0.19%, to 2,091.70. The Nasdaq Composite Index fell 7.48 points, or 0.15%, to 4,888.31, for its four-day losing streak. Oil prices rose on Tuesday as the declining US dollar made the dollar-priced crude less expensive and more attractive for buyers holding other currencies. On the economic front, new orders for manufactured durable goods in March increased $1.8 billion, or 0.8%, to $230.7 billion, missing market consensus of 1.6%, reported the US Labour Department on Tuesday. The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 

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