August EoM Update:
PF After Today's Transactions
| Names | Invested % | Net Uptick |
|---|---|---|
| PPFAS | 21.25% | 18% |
| Godrej Agrovet | 9.07% | 7% |
| Triveni Engg | 7.26% | 13% |
| BCL Industries | 5.99% | -1% |
| Ami Organics | 5.00% | 14% |
| Gokaldas (GOKEK) | 4.77% | 114% |
| Exide Industries | 4.75% | 4% |
| Greenpanel | 4.69% | 4% |
| Max India Ltd | 4.54% | 27% |
| Sansera Engineering | 4.53% | 29% |
| Lupin | 3.97% | 26% |
| TATA Motors - DVR | 3.61% | 0% |
| Borosil Renewables | 3.53% | -10% |
| L&T | 3.40% | 121% |
| TIIL | 2.87% | 67% |
| Ion Exchange | 2.67% | 88% |
| FDC | 2.14% | 19% |
| Cosmo First | 1.88% | 12% |
| Vindhya Telelink | 1.66% | -5% |
| MMP Industries | 1.23% | 52% |
| Kovai Medical | 1.13% | 2% |
| Sakar Healthcare | 1.11% | 17% |
| Niyogin Fintech | 1.06% | 3% |
| RACL Geartech | < 1% | 84% |
| Banka Bioloo | < 1% | -2% |
| Sparc Electrex | < 1% | 2% |
Long Term Holdings: PPFAS, Greenpanel, L&T, Ion Exchange, RACL Geartech
(These stocks are the ones where my first buying has been over 365 days old. Depending upon the stock, I may or may not have added thereafter)
Rationale for the changes
Short notes on additions
-
Vindhya Telelinks: Can this be a beneficiary of fiberisation capex (or) am I late to the party?
-
Banka Bioloo: Railway capex | Promoter seems okay | Worth researching
-
Niyogin Fintech: The management looks very interesting
-
Sparc Electrex: Yet to have a view
-
Tata Motors: I needed cash so I sold TATA motors and before I could re-enter, the demerger started causing a rally. Nevertheless, I re-entered within a few days. I think I forgot to mention this in the last update
Short Notes on Exits
1. SKF India: Nothing wrong with business but wanted the cash. The valuation didn’t made me worry much before selling.
2. DCM Shriram: I was divided initially - ultimately, I chose to stick to the basics and exited
** Why I wanted to hold: The commentatory (via A.R) is very +ve. I do feel that they can receive orders - there is enough data for me to think in this direction. Secondly, if the sugar cycle kicks in, the business could be re-rated. Lastly, at my buying price there wasn’t much probability to lose big.
** Why I was unsure to hold: Commentary in the A.R. has always been positive for the last few years but where’s the execution/output?!! As an investor, I am unsure of the stage of ongoing defense projects. Defense projects are time-taking, but it’s not like there are no businesses with more transparent management and better execution.
DCM didn’t offer me enough data to increase allocation - not even the clarity of when I could have some clarity. The allocation was going to be insignificant soon. At this point, I had been asking questions to myself - Should I be patient? Do I have conviction in the management? etc.
Ultimately, I realized that a ~1% holding wasn’t worth the trouble - especially since there were enough opportunities and thus, I exited. I was sitting on 60ish% kind of returns with < 1 year of investment - so still happy.
Going forward
Will need to work on the following areas:
1. Backtracking inconsistencies: My lower end of the portfolio has been very inconsistent. I think I have picked up this behavior post Covid but not very sure. In any case, I will be testing out a few strategies to figure out a solution here. Example: Sold SKF → re-entered → Sold again within few months
2. Time constraints: Leisure time continues to be less than before and will be even less over the next few quarters.
Disclaimer: I may be or may not be invested in some of the stock names that I have mentioned here. The information shared here is my personal view and I may be biased/wrong and change my views without informing anyone. This is not a Buy/Sell recommendation. Please do your own research or consult your financial advisor.