Thanks for your take, I also have a few points which are mostly contra to provoke a discussion.

1. Why should one wait at the sidelines? One might need to rotate the PF into different sectors, or companies. Earnings season has started, how can this be the time to wait on sidelines, we need to go through results, management guidance and see how our conviction companies are doing wrt to the other companies in the sector. Having conviction is not enough, things can change within the company and the only thing constant is change.

2. Avoiding social media noise, and hot sector stocks can lead you to miss out on huge gains and only leave regret in the end. PSU Banks, Renewable energy, Capex companies have been hot for a long time. Each quarter a new sector becomes hot and need to be analyzed. For example, recently Realty and Tourism have become popular, before that Railways was popular (build up till G20)

3. How can I trust my conviction as a beginner-intermediate investor as compared to the borrowed conviction idea from a PMS, Mutual Fund, Brokerage, Ace investor etc etc. My conviction does not work unless big players like Institutes also have same conviction. People are stuck with HDFC Bank conviction since 2021.

4. Agreed, we need to keep doing this on a periodic basis.

5. Yes

6. Just keep SIPing: While this is a good strategy for a country in a position like India, it is not universal and has not done well in Japan, China etc.
   Market returns will continue to depend on inflation, Bond market rates, and participation by others. If I keep SIPing, but SIP inflows reduce (cause other people stop), there is no support from DII and market will fall when profit booking is done. We have to watch others (through SIP inflows data) and take decisions accordingly. You could increase SIP amount in years like 2022, and lower it in 2024 if you feel market is richly overvalued. Many factors are there.

Your take on this?

BALKRISIND breaking out from 2.3 years of consolidation. Can consider for trade/investment

Below expectation results of IDFC First Bank.

Key concern is about declining QoQ PAT, consol PAT of Q3 is 732 Cr against 747 Cr in Q2. Please note Q1 PAT was also 732 Cr, indicating no PAT growth in 2 quarters on diluted equity. This is despite 280 bps lower tax rate this quarter. Q2 consol Tax rate is 24.0% against 21.2% this quarter. At same rate PAT would have been 707 Cr, much lower than Q1. Haven’t seen such lower tax rate among peers, can lead to adjustment in upcoming quarter. I wanted to ask this question in Concal, was not given this opportunity (happens with Individual Investors), shall write to the company.

Key concern is the high Cost to Income ratio, despite opening lesser # of branches this quarter (35 in Q3 against usual 50) this ratio at 73% is high. Seems fear of some analysts of over spending on brand building is playing right.

With Book value of Rs. 44.51, bank is currently trading at PB of 1.97, while IndusInd bank with better numbers is at 2,09. Seems that Mr. Market shall review the valuation.

Disc. Invested & reviewing.

Its to fund the expenses of their sports division… largely IPL team and FMCG business.