You can buy ncds and bonds on icicidirect and paytm money platform. I have given few snapshots here My portfolio updates and investment journey – #39 by joinjp2003

Hello Meet Kush

Forgings is not a really value added area . mostly one gets paid on machine hour basis … and even Ramkrishna and Bharat Forge have struggled to generate economic profits and return on capital.

Only if a company is making machined parts which required design inputs apart from casting foundry or forging press makes sense to invest…
I am purely looking from a business viability perspective… else any companys share price can be pulled up by operators
Malolan

To the best of my knowledge, the regular brokerages do not deal much into NCDs/Bonds because they are not lucrative to them. NCDs/Bonds are very thinly traded instruments.

However, they are available for purchase/sell through SEBI registered bond houses. One can very well register in their investment platform and buy or sell the NCDs/Bonds. Not all bond houses would have the stocks of all listed NCDs/Bonds. They are available for purchase only when someone is ready to sell. Usually good NCDs/Bonds (although listed in BSE/NSE) are held privately by the long term investors so they are not easily available for trade.

Another point to note is, bond houses hesitate to deal in low credit rated NCDs/Bonds because they are too risky and may default.

While there are many NCD/Bond dealers, personally I have used reputed platforms such as https://www.thefixedincome.com/
https://www.indiabonds.com/
https://www.bondsindia.com/

They are good, safe, transparent with great customer service.

Tip: Do not forget to negotiate on the yields.

I hope this helps.

Thanks for your note. What’s your rationale of giving 30xPE, if a company is sustainably growing revenues at ~20% and EPS ~30% (operating leverage)? First of all, why 30x to FY24 and not FY25. Assuming 30x multiple on FY25 earnings would imply market cap of ~7000 cr. To me 30x is minimum for a company with strong moat, high pricing power, sustainable earnings growth, ROE above 20%, zero debt and good corporate governance. With more parks to come, stock can easily give 30% CAGR if management executes well on its guidance.

Thanks @Surender for your practical and data driven comments. I somewhat agree with you above that in most companies I hold, relating of PE looks dim as they are already highly valued.

This is a big exercise for me to streamline and jot down my thoughts. Would try to do that someday for each stock. For now, to give you a brief of it is exactly what Hiteshji mentioned…to hold such stocks we need a different mindset. It seems data would hardly support an investment thesis in most of these. Future growth drivers are also like sharing a common vision with the promoters & management we trust based on the journey done together in terms of holding and tracking company’s evolution and decision making in both good and bad times……

I would say the process and mindset is more qualitative than quantitative in such cases. For eg. having seen Tata consumer evolve from global focused global beverages to domestic food play consumer products……who would have anticipated each and every piece of this journey except a shared vision and hope? And as hope shapes up as reality you tend to gain further conviction even on the upside….

disc: invested & biased. Not eligible for any advice. Post only for academic purposes. I can be wrong in all my assessments.