Monthly portfolio update -
Silver has been a profitable entry so far with 20% returns in last 3 months ( since last post ). I’ve now slowly started building positions in equity once again.
Holding the following names in equity space now :
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Microfinance - Had booked credit access grameen and arman financials recently, have replaced them with Spandana and Paisalo Digital since they have not yet recovered. I’m expecting some recovery in them with microfinance sector recovery in H2
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Abrasives - Have added Grindwell, Carborundum and Wendt recently. Purely technical play based on 4-5 year cyclical pattern. Need to track it more closely to see potential margin reversion in coming quarters.
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Chemicals - Holding Primo, OAL and Vinyl Chemicals. Few chemicals such as Caustic soda, Vinyl Acetate Monomer, Camphor etc. seem to be at cyclical low. Not sure when their prices will rise again, but downside seems limited at this point.
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PVC Pipe - Added Astral, Finolex Ind, BirlaNu and Everest Industries. Sector seems overall down with margin headwinds. Falls in past have been momentary and current falls seems in line with trends. Need to track this closely to see how it develops.
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IT Sector - Added Sonata Software, HGS and Birlasoft. Nifty IT sees a seasonal uptrend in 3rd quarter normally. Given the current oversold positions, I’m expecting a recovery going ahead. Geopolitical risks remain and any major exogenous fall will create further buying opportunity.
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Battery - Added Amara Raja and Exide. Sizeable capex ongoing with drawdowns in share price in line with historical trends indicate there is some merit in exploring potential names in this sector.
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Others - Added Bajaj Electric, Huhtamaki and ACC. Purely technical plays betting on margin reversion.
Thank you for reading. Will keep posting how this works out.