Disc: Sold JB Chemicals, Eris Lifesciences, Granules India and Aarti Drugs.
Reason : the draft policy of GoI on mandating doctors to prescribe medicines by generic names and not brand names. Although the policy is yet to be finalised, it still remains a significant source of risk.
Continue to retain Kopran Ltd due very cheap valuations and NGL Finechem as its in Animal Pharma space. Also continue to hold Divis because of its cost leadership in APIs and Syngene for its potential to convert some of its development stage molecules into commercial stage.
Bought the following -
Rushil Decor ( company looks like turning around )
KIMS, Narayan Hrudayalya ( I like the economics of Hospital business )
Greenpanel ltd
Balkrishna Industries
Axis Bank ( added to existing position )
Monte Carlo Fashions ( added to existing position )
Regards,
Ranvir Dehal
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