Jamna auto was one of my earliest picks in 2017 . However unlike my other pick at the time KEI industries which seems to have a pretty long runway of growth Jamna auto has already captured the market and the margins are highest they have ever been . So for me the two avenues of growth -market share growth and margin expansion seems to be behind them.
Further there isn’t much capex from them .
So I shifted my position to a company which I think has a longer runway of growth Cholamandalam .
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