In May, we had noted that we may make additional investments based on our recommendations if Sensex touches 15,000-16,000 levels. Sensex has meandered between 16,000 - 17,000 for some time now, but more importantly our highly recommended scrips including Venky's and Confidence's came down by more than 40-50% making them very attractive.
Accordingly, we decided to allocate a further Rs 12lacs for Confidence Petroleum (@ Rs 9 per share) and Rs 8lacs for Venky's India (@ Rs 400 per share). We still keep Rs 10lacs cash to benefit from any unprecedented fall in Sensex.
Accordingly, we decided to allocate a further Rs 12lacs for Confidence Petroleum (@ Rs 9 per share) and Rs 8lacs for Venky's India (@ Rs 400 per share). We still keep Rs 10lacs cash to benefit from any unprecedented fall in Sensex.
Dhanuka Agritech and Amar Remedies have posted smart gains despite fall in Sensex and hence our net investment in six companies (Rs 24lacs) still sits pretty at Rs 52lacs (a fall of just Rs 4lacs or 7% since early June as against Sensex's fall of 18%). Amar Remedies is at a level where we can consider partial withdrawal if it goes up by 10-15%.
In view of a nightmarish situation in Infrastructure segment as well as changing equation in post-Anna Hazare era, we downgrade our outlook on Om Metals from Bullish to Average and hence are refraining from upping our investment. Yet, we feel substantial value remains locked-in in the stock.
