As of today, I have increased my position size in Ajanta Pharma from 2% to 4%. This is because of their very robust Indian business performance and reasonable valuations. The African institutional operations have large uncertainty, however superior US strategy should be able to more than offset it. My projections remain the same as before.
This brings down cash to 19% and I am looking to deploy it soon. Updated portfolio is below
Core compounder (48%)
| Companies | Weightage |
|---|---|
| I T C Ltd. | 8.00% |
| Housing Development Finance Corporation Ltd. | 4.00% |
| NESCO Ltd. | 4.00% |
| Manappuram Finance Ltd. | 4.00% |
| Alembic Pharmaceuticals Ltd. | 4.00% |
| Amara Raja Batteries Ltd. | 4.00% |
| Avanti Feeds Ltd. | 4.00% |
| Eris Lifesciences Ltd. | 4.00% |
| Ajanta Pharmaceuticals Ltd. | 4.00% |
| HDFC Bank Ltd. | 2.00% |
| HDFC Asset Management Company Ltd | 2.00% |
| Aditya Birla Sun Life AMC Ltd | 2.00% |
| PI Industries Ltd. | 2.00% |
Cyclical (15%)
| Companies | Weightage |
|---|---|
| Kolte-Patil Developers Ltd. | 4.00% |
| Ashiana Housing Ltd. | 2.00% |
| Ashok Leyland Ltd. | 2.00% |
| SWARAJ ENGINES LTD. | 2.00% |
| Kaveri Seed Company Ltd. | 2.00% |
| Sharda Cropchem Ltd. | 2.00% |
| Jamna Auto Industries Ltd. | 1.00% |
Slow grower (6%)
| Companies | Weightage |
|---|---|
| Cochin Shipyard Ltd. | 4.00% |
| Power Grid Corporation of India Ltd. | 2.00% |
Turnaround (6%)
| Companies | Weightage |
|---|---|
| CARE Ratings Ltd. | 4.00% |
| Lupin Ltd. | 2.00% |
Deep value (6%)
| Companies | Weightage |
|---|---|
| SJVN Ltd. | 1.00% |
| ATUL AUTO LTD. | 1.00% |
| Jagran Prakashan Ltd. | 1.00% |
| D.B.Corp Ltd. | 1.00% |
| Time Technoplast Ltd. | 1.00% |
| RACL Geartech Ltd | 1.00% |