Rumours can not be proven false …atleast not in near term . In my holding period of 3 plus years ,I have seen 10% drops or more( within 2 trading days) atleast 4 times in this stock and sold some in panic because sometimes no reason were evident .All the time I had to buy it back at higher prices and thats why my overall return is nearer 3x than 6x.

LAS rules under hdfcsec say : “Please also note that the loan is granted only for personal purposes. The loan amount cannot be used for speculative activities, any purpose linked to capital market activities or for any anti-social purposes.” not sure how they can track usage of funds … no idea…

Dharmaj’s new plant is almost adjacent to Nissan Bharat Rasayan plant in Saykha. Given the huge ramp up expected from Nissan JV plant by Bharat Rasayan, this looks like a strategic sourcing decision (Dharmaj being one of the suppliers).

If the company has not received any official communication then there is no question of hiding anything . The results are just ahead …it also makes sense for some to create panic and pick up in cheap .Also keep in mind that AMFI has just approved the largecap tag to Polycab so shuffling time too.Price action suggesting truth is like believing in mambo jumbo . I would believe it if there was no interview / source with inside knowledge of income tax demand and still the share fell the way it did . On the other hand it is true that valuations are somewhat high and a confirmation of the rumour may impact the stock further. But a demand does not mean IT department is right and company would surely challenge and it will take long time for the thing to clear up . All in all , testing time for fundamental investors conviction .
Disc : invested from 830 level onwards and 2nd largest position by present value. Have not sold because of this news …do not want to pay extra taxes

Good note from Solidarity PMS on some of their stock picks not working and laying out their rationale and reasons for conviction. #goodread

More than the note, loved this beautiful poem cited in the end.

The Valuable Time of Maturity (Mário de Andrade)

“I counted my years and discovered that I have less time to live going forward than I have lived until now.

I have more past than future.
I feel like the boy who received a bowl of candies.
The first ones, he ate ungracious,
but when he realized there were only a few left,
he began to taste them deeply.

I do not have time to deal with mediocrity.
I do not want to be in meetings where parade inflamed egos.

I am bothered by the envious, who seek to discredit the most able, to usurp their places, coveting their seats, talent, achievements and luck.

I do not have time for endless conversations, useless to discuss about the lives of others who are not part of mine.

I do not have time to manage sensitivities of people who despite their chronological age, are immature.

I cannot stand the result that generates from those struggling for power.

People do not discuss content, only the labels.
My time has become scarce to discuss labels,
I want the essence, my soul is in a hurry…Not many candies in the bowl.

I want to live close to human people, very human, who laugh of their own stumbles,
and away from those turned smug and overconfident with their triumphs,
away from those filled with self-importance,
Who do not run away from their responsibilities
Who defends human dignity.
And who only want to walk on the side of truth and honesty.
The essential is what makes life worthwhile.

I want to surround myself with people, who knows how to touch the hearts of people.
People to whom the hard knocks of life, taught them to grow with softness in their soul.

Yes …. I am in a hurry … to live with intensity, that only maturity can bring.
I intend not to waste any part of the goodies I have left.
I’m sure they will be more exquisite, that most of which so far I’ve eaten.

My goal is to arrive to the end satisfied and in peace with my loved ones and my conscience.
I hope that your goal is the same, because either way you will get there too”