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High-conviction ideas - September 2014
$ We identify our September 2014 high conviction picks in the
presentation with the respective investment theses and financials:
Ultratech, MRF and Wipro within large caps and Apar Industries,
Godawari Power & Ispat, Granules India and IFGL Refractories within
midcaps.
$ The fact that there is no common thread across these stocks just
goes to show that we have been singularly focussed on the company’s
merit in making our choices and not depended on a specific theme.
$ It is true that a very sharp run-up in some of these stocks has
reduced the potential upside but we have nevertheless included them in
the list because our basic conviction has not changed. We could look
for a revisiting of our estimates only as and when key landmarks are
reached or are in sight, being mindful of the risks in a small company
or a market that is overheated in certain pockets.
$ At the end of the presentation we have also included the short and
long term performance of the high-conviction picks that we put out in
June 2014 – all except GPIL and NMDC have been smart outperformers
since the last report but even they have picked up of late. Indeed, we
have this time repeated GPIL as our analyst believes that a serious
inflection could be taking place
Thanks & Regards
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��
High-conviction ideas - September 2014
$ We identify our September 2014 high conviction picks in the
presentation with the respective investment theses and financials:
Ultratech, MRF and Wipro within large caps and Apar Industries,
Godawari Power & Ispat, Granules India and IFGL Refractories within
midcaps.
$ The fact that there is no common thread across these stocks just
goes to show that we have been singularly focussed on the company’s
merit in making our choices and not depended on a specific theme.
$ It is true that a very sharp run-up in some of these stocks has
reduced the potential upside but we have nevertheless included them in
the list because our basic conviction has not changed. We could look
for a revisiting of our estimates only as and when key landmarks are
reached or are in sight, being mindful of the risks in a small company
or a market that is overheated in certain pockets.
$ At the end of the presentation we have also included the short and
long term performance of the high-conviction picks that we put out in
June 2014 – all except GPIL and NMDC have been smart outperformers
since the last report but even they have picked up of late. Indeed, we
have this time repeated GPIL as our analyst believes that a serious
inflection could be taking place
Thanks & Regards
�� India Equity Research Reports, IPO and Stock News Visit http://indiaer.blogspot.com/ for complete details ��