Disc : exited Saregama Ltd due rich valuations.
Added the following -
Dodla dairy : has nice business momentum specially after the price hikes that company has taken towards the end of Q1. Plus the share of value added products is continuously rising.
Akzo Nobel : A turnaround bet with falling crude prices as a nice tail wind.
HDFC bank : with system wide credit growth picking up to 15 pc, I hope the days of underperformance at HDFC bank should be near. Asset quality has been pristine as ever. Once they get their technology ecosystem right, it can do really well.
South Indian Bank : a pure turnaround bet. Management has guided for slippages of 1600 cr and recoveries of 1100 cr. If this materialises, the bank may be in for some re-rating.
Added to existing positions in - KVB , Mayur Uniquoters and Royal Orchid hotels
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