Yup. As mentioned above. The whole thesis broke down with the government taxing repayment of debt. I got out at between 310 to 316 which meant about a 4 percent loss which i was willing to take(which works out well this FY since I’m loss harvesting from my huge Deepak nitrite sale mid 2022) considering this isn’t a laurus labs type equity instrument where there ll be an amazing upside if held for years. It’s supposed to be slow and steady and give monthly tax efficient returns. I won’t be surprised if the government ends up taxing the dividend part in the future too. I’ve learnt a harsh lesson here though… debt is debt… equity is equity. Never try to mix the two up. I have sold my entire stake but I’ve kept my wife’s stake. She was fine holding with the FD like returns for the next few years(and the upside post FY25 when leverage kicks in) but I wasn’t. I will be moving back fully into equity and ignoring any sort of faux debt type instruments introduced into the market(and yes… i am more than a little annoyed that i lost money due to the government taxing something I never even knew could be taxed ie repayment of my own capital)
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