I am trying to maintain the discipline of disclosing my portfolio over the weekend after expiry in every month.
Notable purchases during the month include a significant increase in my holdings in IDFC and Oberoi Realty, and an increase in my holdings in Idea Cellular and an initial position in Tata Global Beverages. I also bought a reasonable amount of Sabero Organics as a special situations play. Amongst small caps, I created small positions in Morganite Crucible and Mazda Engineering. I trimmed my holdings in JP Infra and in Alkyl Amines.
I have too diversified a portfolio. Over a period, it will only became like the Nifty Junior. I am therefore trying to increase the concentration in my portfolio, and for the moment, two stocks, IDFC and Oberoi Realty are in my focus. I intend to increase my holdings further. I will give an investment thesis on both next week.
I am also increasing my exposure to Idea Cellular, though at a slower clip than the above two. The reason is simple, telecom stocks have got back pricing power, and the eminent entry of Reliance Jio, to my mind, is an overblown fear. Reliance has not demonstrated that when it comes to engaging the consumer that it is better than competitors. This is true for its previous telecom foray, as it is true for its retail foray. I have little doubt that they will be a serious player in the telecom space, but existing telecom players are not going to roll over and die. Idea’s balance sheet is the best amongst Bharti, RCom and Idea, and it is executing its plan well. This can be a FCF business of high proportions.
Sabero Organics was bought mainly from the point of view of merger with Coromandel International. The merger should not happen within a month or so, and buying Sabero today means buying Coromandel at a 7% or so discount.
| Stock | Latest Price | Inv. Price | Overall Gain % | % of Portfolio |
| IDFC | 128.35 | 112.35 | 14.24 | 4.05% |
| ILandFS | 23.4 | 13.81 | 69.46 | 3.50% |
| Selan Explore | 594.5 | 317.72 | 87.11 | 3.46% |
| Oberoi Realty | 259.1 | 204.00 | 27.01 | 3.36% |
| Larsen | 1667.3 | 949.93 | 75.52 | 2.48% |
| Cummins | 639.3 | 406.70 | 57.19 | 2.47% |
| IRB Infra | 224.6 | 81.35 | 176.09 | 2.44% |
| Balkrishna Ind | 735.9 | 232.34 | 216.74 | 2.43% |
| Sesa Sterlite | 289.35 | 150.99 | 91.63 | 2.32% |
| Mayur Uniquoter | 374.5 | 111.03 | 237.29 | 2.25% |
| Clariant | 861.05 | 617.20 | 39.51 | 2.12% |
| NMDC | 178.95 | 121.65 | 47.1 | 1.96% |
| Kaveri Seed | 721.2 | 296.64 | 143.12 | 1.96% |
| EID Parry | 209.4 | 141.47 | 48.02 | 1.93% |
| Bharat Forge | 608.25 | 272.25 | 123.42 | 1.87% |
| Hind Zinc | 163.9 | 121.00 | 35.45 | 1.76% |
| Ajanta Pharma | 1522.6 | 1007.73 | 51.09 | 1.65% |
| Sun Pharma Adv | 160.25 | 121.93 | 31.43 | 1.61% |
| MPS | 345.45 | 128.66 | 168.49 | 1.59% |
| eClerx Services | 1159.8 | 866.27 | 33.88 | 1.56% |
| Indian Hotels | 102.3 | 53.51 | 91.16 | 1.56% |
| Tata Inv Corp | 547.15 | 404.99 | 35.1 | 1.55% |
| NTPC | 152.25 | 130.22 | 16.92 | 1.55% |
| Sobha Developer | 511.55 | 288.64 | 77.23 | 1.51% |
| Munjal Auto Ind | 78.5 | 33.99 | 130.93 | 1.48% |
| Oriental Carbon | 269.9 | 113.21 | 138.42 | 1.46% |
| Syndicate Bank | 157.85 | 69.59 | 126.83 | 1.29% |
| ITC | 319.75 | 304.43 | 5.03 | 1.28% |
| PI Industries | 329 | 144.63 | 127.48 | 1.28% |
| ILandFS Trans | 206.8 | 134.39 | 53.88 | 1.28% |
| Reliance | 1012.1 | 756.12 | 33.85 | 1.27% |
| PTC India Fin | 31.55 | 13.93 | 126.5 | 1.27% |
| ICICI Bank | 1384.65 | 933.81 | 48.28 | 1.26% |
| Tata Steel | 518.9 | 274.05 | 89.35 | 1.23% |
| Grindwell Norto | 408.25 | 231.16 | 76.61 | 1.20% |
| Muthoot Cap | 156.75 | 94.02 | 66.72 | 1.20% |
| Bajaj Electric | 336.5 | 209.83 | 60.37 | 1.19% |
| TCS | 2399.55 | 1771.20 | 35.48 | 1.19% |
| VST Tillers | 1766.55 | 421.86 | 318.76 | 1.17% |
| Banco Products | 115.4 | 56.16 | 105.48 | 1.09% |
| Poly Medicure | 503.35 | 278.36 | 80.83 | 1.08% |
| RS Software | 276.4 | 206.52 | 33.84 | 1.07% |
| Sasken Comm | 220.45 | 180.30 | 22.27 | 1.07% |
This constitutes 79% of my total portfolio. I am disclosing those stocks which constitute more than 1% of my portfolio. IDFC has gone up from 3.4% to 4.05%, even without any price increase. Oberoi Realty has gone up from 2.4% to 3.4%. I fully intend to have both of these at 10% within the next 2 months.