Portfolio Composition, April 2014

As is usual, I intend to post a partial snapshot of my portfolio every month. Below is a list of my top portfolio stocks as on April 9, 2014.

My top holdings continue to be Selan Exploration and Cummins. I added a small quantity of Selan during a market drop in the month. IDFC, which was a loser till last month, has now become positive, and because I bought a small quantity last month, and because of the capital appreciation (finally, it has a bank license), it has jumped up the ranking of overall holdings to third place.

I have shown around 67% of my portfolio this month, as opposed to last month. This is because several of my top holdings have appreciated. New companies which have made it into the list include IRB Infra, Jaypee Infra (where I made fresh purchases), Sobha Developer, Bajaj Electric and Munjal Auto and Tata Steel, all of which have come into the list because of capital appreciation.

I had excellent performance this month in PSU Banks, IDFC, IRB Infra, Mayur Uniquoters, EID Parry, Selan, Cummins, Balkrishna Industries, and lots of other cyclicals. Disappointing was mostly the defensives, IT (MPS, Eclerx, TCS), Pharma (Unichem, Ajanta), NTPC (which I intend to sell of soon), Clariant (which I intend to build on) and FMCG. Luckily my exposure to these sectors is limited.


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