I had Som distilleries but exited once I felt that next couple of years valuations were getting captured in the valuations. Some other reasons for exits were frothy overstretched moves on charts, frequent appearance of management on TV, too many announcements related to their business ( and stock price not responding to them inspite of them being positive in nature) . I exited somewhere around 300-310 and stock price went much higher than that, but I was okay with that kind of move as I already had made my returns satisfactorily within a short period of time.
And than came the IT raids. Which proved to be the final nail in the coffin. The uptrend was halted/broken… Usually once this happens it undergoes prolonged consolidation, where there may or may not be price correction, but time correction takes a long long time. Some people are okay bearing this kind of pain, others are not. You can define which kind of person you are and take an appropriate call.
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