No such plan in terms of the broader markets. I’d like to allocate as and when things in my watchlist fall into my valuation zone.
I sold NMDC a while ago.
I think TAN realisations are unsustainable, given that prices are 3x their long term averages. The new plant will raise sustainable margins, but I thought it best to exit at the peak of the cycle. Perhaps the market may like the demerger news.
I was initially skeptical of Manappuram and the gold loan pack once banks started entering the space. Now I realise there were two good contra plays: IIFL and Manappuram. IIFL has grown their loan book the fastest in the pack, Manappuram has more to it than just being a gold financier.
I hope a single snip from a Morgan Stanley report is okay; I do not wish to circulate the report. Will delete the post otherwise.
I’m building a position in both Manappuram and CreditAccess at the moment. No views on the others.
D: Please do not take this as investment advice. I am very often wrong.
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