Got bit bored holding Satia, very cheap and stable, looking at cheap alternatives found Godawari again attractive, but this will face macro issues around global ore prices, and expansion will take 2 years, it is cash heavy, so expect good dividend/buy-back while waiting.
Hence, sold Satia and bought Godawari, as smallest folio allocation. This is betting on macro bottom which is bit risky ahead of recession forecast in the west for next year, thinking China and India etc. can even out the bumps.
Also sold off Meghmani finechem which was the smallest folio allocation and bought more of Ugro. Just trying to reduce holding and concentrate on the winners. Ugro just turned profitable for me while Kacholia or some big fish just entered.
Satia is very likely a manipulated scrip, lots of local Punjabi companies holding it which have been selling and putting pressure on price, trading almost flat since 3 years.
My exits could be timed better, the issue here is that the alternate buys are also a moving target. Altogether very minor tax implications was also a big reason. Its easier following people like Ayush Mittal, he is a fan of Godawari, but of course his entry point would be much cheaper. Have made good money in Godawari previously also.
Also added a tiny bit to RBL bank, financials are now all in top 4 of folio by position size, Ujjivan, IDFC, Ugro and RBL in that order, 50% by total weight.
| Subscribe To Our Free Newsletter |
