Sold my stake in IPCA labs in the price bump up today with modest gains 0f 8-9 percent. That makes IPCA holdings-zero.
Reason- near term trigger of probable USFDA clearance being granted to IPCA being priced in, in the last 2 days of up move ( I think so). Post this event…i do not see any substantial sales and profit recovery in the next 3-4 months. And even if it happens, the company looks richly valued.
Converted my IPCA holdings to DB Corp at CMP…..as i think the q3 results for DB corp are expected to be good due to Navratras falling in q3 this year as opposed to q2 last year.
Also with the implementation of 7th pay comission, advt. revenues are expected to go up (although that may take some time, probably 6 months kind of time frame)
The whole transaction makes- IPCA-zero, DB corp- 6% of total portfolio.
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