Real Realty Management has risen 281% in a little over a year and a half on poor financial performance even as Sebi sleeps
Incorporated in 1993 as Hillock Agro Foods, Real Realty Management acquired its present name in 2013. Earlier, the company’s main objective was manufacturing and trading of agro-foods. It underwent a restructuring in 2013 after which this company de-merged its agro division and amalgamated Real Realty Management Company Pvt Ltd with itself. Now, its main business is real estate development. By 2013, when this transformation took place, the net worth of the company had eroded and the management was talking of ‘reviving’ the company. However, even after restructuring, nothing worthwhile has happened in terms of its financial performance. Over the past six quarters ending June 2014, net revenue from operation was Rs5.39 crore. This led to a net loss of Rs90.38 lakh; the company made losses in four of the six quarters. But this does not mean that the share price cannot be on steroids. From 2 May 2013 to 31 October 2014, the stock had run up from Re1.75 to Rs6.66—as much 281%. Of the 372 trading sessions ending 31 October 2014, the stock has traded for only 150 days on the BSE. This stock is under periodic call auction (PCA) as it has been identified as an illiquid stock by the BSE. And PCA was designed to control manipulation!
A small, well-performing software company, not yet on the radar of fund managers
Maharashtra government would come out a long term policy within next three months to simplify procedure of deemed conveyance for CHS and also for protecting interest of depositors in credit societies and cooperative banks
Maharashtra government will simplify the 'deemed conveyance' procedures for convenience of the co-operative housing societies (CHS) in the state.
In his address to the state legislature, Governor C Vidyasagar Rao said, "To protect the interest of the depositors in the co-operative credit societies and co-operative banks in the state, the Government will come out with a long term policy within the next three months."
Speaking on wide range of topics, the Governor said that after decontrol of sugar by the Central Government, it is being procured through open market for the public distribution system.
He said the state government will undertake long term measures to mitigate the adverse impacts of drought, especially in areas which are chronically drought prone.
The water policy will be reviewed keeping in mind the developments in agriculture, industries and the need of drinking water, he said.
Efficient fiscal planning based on completion of 75% of the completed projects, particularly in districts with backlog, and an all-out effort to complete 50% of incomplete projects, including distribution systems by 2019 shall be the government's priority, he said.
Other top priority includes, efforts towards forest and wild life sanctuaries conservation. Conservation of tigers, with Nagpur as Tiger Capital of India, rehabilitation of villagers from tiger reserves and promotion of wild life tourism, around Tiger Reserves in Vidarbha and Sahyadri regions.
"In view of the vision of Prime Minister to develop hundred smart cities in the country, my Government will develop maximum smart cities in the State in the next five years," he said.
On transportation, he said to improve mass transportation in the Mumbai Metropolitan Region, an integrated approach will be adopted which will include a network of roads, waterways, metros and mono rails.
In order to lessen the burden on the existing rail and road transport systems, the government will create basic infrastructure and amenities to promote Water Transport Projects on the East and West coasts of Mumbai, Navi Mumbai and Konkan region.
The objective of 'Housing for all: By 2022' will be achieved through large scale construction of affordable houses through Government and semi-Government agencies like MHADA, MMRDA, CIDCO and Nagpur Improvement Trust, he said.