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American Diary: Five days to go—Colorado hanging in balance

With Hurricane Sandy having gained massive attention, President Obama has been getting a lot of free ‘advertising’ and will try to woo swing voters in Boulder, Colorado as the presidential campaigns nears its climax  

 
Denver is full of unexpected delights. The sky looks colourful and Halloween is in the air. There are a lot of people, with costumes on the road, having fun. Young Alex, my nephew was dressed as Captain America, a Marvel Comic character, and looks very cute. After returning from the Democratic National Convention at 6:30pm yesterday, JD takes me to Frasca, an Italian restaurant, in Boulder in Colorado. The meal was superb which was surpassed by the Italian wine. I am sorely tempted to carry some wine home but was dissuaded from doing so. 
 
At the Tattered Cover Book Store, a privately-owned bookshop in downtown Denver which has—a café, friendly staff, fantastic displays of eclectic variety. Over and top of this, anyone can sit down or even lie down and read a book. It is nearly impossible to leave the bookshop without buying a book or two. The girl behind the counter told me that after the first presidential debate, which was hosted in Denver, the people who were undecided between the two candidates had apparently had fled to Governor Mitt Romney and that the Democrats were trying to woo them back. I am told that America’s economy is not doing too badly; the bookshop is faring well and there are three such stores Denver. Additionally, there are jobs in manufacturing and healthcare. Over half of the vehicles have out-of-state number plates. 
 
The area near Colorado Springs is very conservative. Black pastors have been preaching against President Obama because of his approval of gay marriage. In the Bible, it mentions that that a man shall not lie down with a man. The pastors are offended because some blacks might vote for independents which could hurt the president’s chances. On a related note, abortion is not a big issue among the blacks because the bible doesn’t make any direct references about abortion. I have hardly met a Republican in Colorado, but they are fired up by the Governor Romney’s debating skills. 
 
JD also thinks President Obama will prevail. The last three Governors have been Democrats. The mayor of Denver is a Democrat as well. Martin is not so sure though because he is unsure about the size of the black vote.
 
With Hurricane Sandy having gained massive attention, President Obama has been getting a lot of free ‘advertising’. On the other hand, Governor Romney’s theory of dismantling the Federal Emergency Management Agency is not looking too good at the moment, and his momentum may have slowed down.
 
President Obama will be “Boulder” and will try very hard to swing Colorado voters to his side. However, there’s a saying—a week is a long time in politics.
 
(Harsh Desai has done his BA in Political Science from St Xavier's College & Elphinstone College, Bombay and has done his Master's in Law from Columbia University in the city of New York. He is a practicing advocate at the Bombay High Court.)
 

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Chaman Lal Setia Exports announces impressive quarterly results; stock up 4.72%

The makers of Maharani brand of basmati has posted 102% jump in net sales which led to a 92% increase in net profit

 
The second quarter ended 30 September 2012 saw Chaman Lal Setia Exports (Chaman Lal), a micro-cap stock listed on Bombay Stock Exchange (BSE), report good results. Chaman Lal’s net sales were Rs53.22 crore compared to Rs26.40 crore for the same period last year, up 102% year-on-year (y-o-y). Chaman Lal’s operating profit rose 60% y-o-y, from Rs2.03 crore to Rs3.25 crore. The result was that net profit rocketed up 92% y-o-y to Rs2.03 crore. The results boosted Chaman Lal share price to Rs31.05, or 4.72% up on BSE earlier today.  Higher sales boosted the Chaman Lal’s results.
 
You can find out more about other companies’ results here
 
Chaman Lal has been performing quite consistently since the beginning of the year. The Moneylife database showed that it has been putting out high double-digit sales growth, with growth rate this quarter easily beating its already impressive 65% y-o-y average growth rate over the last three quarters. Similarly, its operating profit rose 60% which is more than its y-o-y operating profit growth rate of 47%, with last three quarters of solid performance. Being a micro-cap stock, it has completely escaped the eyes of analysts and fund managers. As of now, only the public and promoters hold its shares. The promoters hold 74.57% of the company, just below the statutory norms for delisting (over 75% means it has to delist). Keep an eye on this. The return on equity is very impressive, at 28% with attractive valuations of market-cap quoting at just above two times operating profit.
 
Chaman Lal setia Export is one of the oldest rice millers cum exporters of basmati rice of all varieties from India with the art processing units based in Karnal, Amritsar, Delhi.
 
You can check more about this company here
 

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