Exited 3 stocks from the High risk High rewards section of the portfolio …
- Walchandnagar at 259 … had bought it at 215 …so no loss. Exited because the turnaround might take longer than I thought and even then the results are likely to be lumpy . In this kind of market ,it’s not safe to be riding stocks where future seems a mystery !
- THOMASSCOTT @203 … Lost 20% . Results were not bad but there is no communication or information from the owners regarding business direction. Also before Puja , saw the 999 shirts being sold at 499 at Spencer’s . Amazon ratings are not that good .
- Apollo Microsystems@91 …lost 15% . I had bought it as a good defence stock where promoter bought preferential issue at 108 and company was increasing capacity by 7x. I had assumed it would take 2 years . But sold because the promoter went pledging like mad in past months . That in itself was not a dealbreaker but then this week they notified that the preferential issue is also cancelled . They gave a reason that did not ring honest to me ,because of the pledging run . I thought that the management knew about the investor withdrawal much before they let the news out in public.Too risky to ride in this sort of market .
Added Vaibhav global as value bet with operating leverage in next few quarters .Added ACE as a solid company after a 6 month consolidation and with the main season ahead .Added Asian Energy services in the HRHR section as a relatively risky but hopeful bet mostly because the promoter buying and preference share issue along with the CHP tailwind.Their concall transcript indicated good technical management and they seemed honest and straightforward .
| Subscribe To Our Free Newsletter |
