Needed funds hence sold off the smallest allocations, Agarwal ind and Godawari, idea being to concentrating holdings, bought Caplin point with funds, added little bit to KPI green, Kilpest, Best agro, RBL bank and Ugro in that order.
Caplin point looks like a sterile injectibles and API integration growth story tracked by valuepickr folks since 2012 with zero returns since 2017 in spite of 4x growth, consistent multi-decade growth story, expanding now into US and near east, west africa etc.
Missed at 600 level, seems pharma pack tanked then unexpectedly, found at 750 level and took a few days to get serious and make a trade.
Agarwal was mainly growing due to shipping biz which they added to their inland logistics, now they had 6 ships and 2 added a few months ago, this is the growth trigger which is getting weaker, good promotors no doubt.
Godawari is slave to iron ore prices, China slow down is a big worry, so ore can stay low and this one takes too much patience with years with no plans, they just sent their proposal for expansion to govt. They did buy back at almost double market prices, how is that helping holders of shares? Usually infy, wipro etc. do buy operations from market.
Caplin may get re-rated due to quality of execution with capex ongoing and the entry into US.
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