Update: Jan to 18/04/23
Good upmove in Auropharma, Glenmark and GLS(including dividend) since Jan. Partial profits can be booked.
PFC oscillating in range 140-170 (at PE=2.5-3). Still a good long term bet even after 30-50% returns since recommedation (Aug 2022). I have sold 35% of my stocks till now. Next selling only above 170. Will keep 50% even at 200 (and keep even more if results are good). Fundamentals still hold good.
REC: I only recommended PFC because its valuation was much better than REC. But now the valuation gap is very low, and on dividend side REC shines over PFC. Anyone creating new positions can buy some REC instead.
Holding companies have done good since March end (holding discount has narrowed), but holding discount was increasing till March end. Nothing substantial has happened here, except an unconfirmed report of GoFirst sale for Bombay Burmah.
VLS Finance (Buyback opportunity @ 154): our target was 180 Rupees. (It was ~185 in the whole time period when buyback was happening), 20% plus return on low risk, so good enough.
ONGC and OIL India has done good due to duties being lowered, and crude not falling much.
IOC,HPCL, NTPC,SJVN flat. Nothing much happened there yet.
IOC, HPCL did increase once when crude fell, but then OPEC+ again cut production and still the same thing. Govt unlikely to increase prices till 2024 elections now. Only positive move can be Crude moves down.
and Indiabulls Housing: In loss of 20 percent here, hard to say whether it should be averaged, any other stock from above list can be averaged but this one can really go down to 0.
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