Hitesh Bhai, do you see UP Hotel as delisting candidate?
no idea about it. didnt know there was a listed scrip of that name.
U.P.HOTELS - Bse Code : 509960 Share Holding Pattern: http://economictimes.indiatimes.com/u-p-hotels-ltd/shareholding/companyid-12511.cms
U.P.HOTELS - Bse Code : 509960 Share Holding Pattern: http://economictimes.indiatimes.com/u-p-hotels-ltd/shareholding/companyid-12511.cms
Hit Bhai,
Is your portfolio updated on the first page? I see Kaveri 15%
I updated the latest in january 13 probably. Currently no position in kaveri seeds but it is under my watchlist.
Hitesh , If your conviction in Unichem is so high , why do not you put higher portfolio weight for it like 40-50%?
Why put it in other stocks and increase probability of lower returns?
Great point nani.
Only reason of not doing so is the possibility of some black swan event in the particular company. Usually I dont allocate more than 15% (now thinking of increasing this limit to around 20%) to any particular stock.
But what you say is a thought which has been bugging me since past six months. Maybe some day I would jack it up to around 25-30%, who knows.
hitesh bhai are you still holding GRP? I am thinking of bottom fishing here, but not enough conviction, any thoughts from you
I was lucky to get out at nominal profits. Was more thrilled with kaveri in those days.
Regarding bottom fishing I dont have any idea but can confirm that management is absolutely top class in terms of honesty and efficiency.
Hitesh Bhai,
The money laundering news has impacted HDFC bank,ICICI and Axis bank stock prices.But my understanding is the asset quality and size of these banks are too big in comparison to this news. I bought HDFC bk at 635 and icici at 1030 today and intend to buy more if it falls further.Do you think that this is a correct strategy or wait and watch policy would be apt post the cobrapost sting news? It would be good to get your opinion on this.
Regards,
Rajarshi
rajarshi,
I dont think this cobrapost sting will have major impact on long term fundamentals of the banks mentioned by you.
But since overall markets seem weak, all three banks being large caps will swing with market swings and to that extent staggered buying can be done.
Hi Hiteshbhai,
What’s your view on Atul Auto and Mayur Uniquoters after the recent fall? I also want to add Ajanta Pharma. At what price can one start accumulating Ajanta? How does it chart look like?
Thanks
Ankit
ankit,
Price wise atul auto, mayur and even ajanta are attractive on valuation basis. But charts seem to show weak structures post the sharp run ups seen in all of them. These stocks will need to spend some time in a range and consolidate before a next upmove can begin.
Now I think the stocks will correct gradually and then settle into a range, trying to repair the damage to the structure. This process usually is quite slow and time consuming and its difficult to predict at which levels they will settle down.
I have seen this kind of structures in almost all stocks in our coverage including mayur, atul auto, astral, polymed, ajanta, gruh , kaveri etc.
So I guess it is better to wait a while before being aggressive-- I dont think any stock is going to run up too sharply and if it runs up, well I would prefer to miss the rally than risk a poor entry point.
All this while I have been controlling myself, sitting in cash and avoiding entry into favorite stocks inspite of a lot of itching to buy.
I think other option is to fix levels of buying e.g in case of ajanta, buy 10% of desired quantity beginning from cmp of around 620 at falls of 20-25 Rs – This is beneficial bcos it takes away the emotional aspect of fear and greed. Its almost like an automated program. Risk here is you run out of money even while stock keeps on declining.
You might find this tiresome but I have been through such situations in 2008-09 fall and it has been my learning that it is foolish to be too adventurous when markets correct in the fashion as they are.
Just as stocks tend to overshoot fair or optimistic projections on upside, they tend to overshoot pessimistic projections on downside in market downtrends.
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Very nicely put Hiteshji. It shows how good investors remain patient in panic situations. Many of our respectable members in this forum having gone through 2008 learnt the hard way but in the end it sometimes pays to watch Cricket from the Gallery than be an opener on the ground.
Nice analogy supratik – better be a spectator than an opener – especially ball is swinging and its difficult to even get an edge.
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Hitesh,
I am still holding atul auto and many other small caps. Is it advisable to sell now and buy when the market bottoms out?
Thanks a lot Hiteshbhai. Even I was thinking on preserving cash.
difficult to take a decision now when atul auto is down around 25-30% from the top of 225. I find tops relatively easier to identify than bottoms so question comes how do we identify the bottom.
Nothing goes down in a straight line so I guess you might wait for a bounce and then decide.
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Thanks Hitesh,
Can you illuminate on how do you identify tops? I find this to be the most difficult.