Some churn after months of sitting and doing nothing which has been quite a challenge for my monkey brain – I raised some cash selling Sharda in the runup to 3k. Think its fairly valued and further growth from FY24 base might be hard. Still have a 5% position left, to see if TREM-V or the new acquisition plays out and also since its a stellar business in terms of cash flows and management quality. After writing “its still cheap” for several months, I don’t think I can say the same anymore. Added little more to the Shaily position from 460-470 levels since I have grown to understand and like the business a whole lot better and have better understanding of longevity and long-term triggers.
Pix, weekly – Pix is consolidating on the weekly chart for around a year.
Pix makes transmission belts including v-belts and timing belts that are used across industry and automotive space. The products have persistent replacement demand. They are growing in export market mainly with export contribution in FY24 going to 60% mark from 46% in FY20. The growth overall though after the FY20-FY21 period has been flat and consequently, the stock has been going sideways without much return in the last 3 yrs (~50% return as compared to 2.5x the microcap index has done and ~5x most names have done).
Now with the base built, there are signs that growth might be back which is all that might be needed to get the price moving up leading to a breakout from the base that has been built. The downside is perhaps 10% at most here and upside depends on the quantum of growth and how persistent it will be.
Disc: Positions in Pix between 1450-1500. Not qualified to advice and am just a novice sharing what I do and writing for clarity.
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