Buys:
BHEL, VST Tillers, Engineers India, Mayur Uniquoters, NMDC, Axis Bank and HDFC Bank
Sells:
None
Outlook:
Midcaps valuations had corrected a lot in the last month bringing some stocks to very attractive valuations. Economic outlook continues to be weak with the FM increasing taxes for companies and individuals in the budget. There seems to be no intent to cut down expenditure from government side.
Thought on my holdings
Number of stocks in the portfolio has increased to 29. Plan to reduce the number of holdings to reasonable number (around 20). Over the next few months, I will be consolidating the stocks in similar businesses and have the money invested in one that has better business value and growth potential for the price paid.Year to date the portfolio is lagging the market (Sensex) as the exposure is more to Midcaps. Goal is to outperform markets in longer term and buy businesses at lower valuations. Some of the business are now available at very attractive valuation and I am currently buying those.
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