@RameshD54381046 Till the time I was investing in Kotak Alpha, I had no discretion. Everything was decided by the underlying index. (Which, by the way, I was fine with, until NSE came into the picture).
Now that I was compelled to buy individual shares, I thought why not take advantage of the

@RameshD54381046 freedom that comes with it. Since, I was thoroughly impressed with the basic concept behind how Nifty Alpha index is constructed and rebalanced, I didn't want to disturb it entirely, but at the same time, there were few short-comings that I wanted to improve on, such as:

@RameshD54381046 a) Restricting coverage to only top 300 stocks... the more you go down the capitalization, the more is the return potential of the stocks. Hence, I changed it to Nifty 500.
b) Undue concentration in a few stocks. As you said, BCG and TTML (both circuit stocks) alone account

@RameshD54381046 for 16%, which I thought was a little risky. Hence, went with the "equal weight (EW)" of 2% each. Incidentally, a thread by @SahilKapoor on differential weight (DW) vs EW also influenced by decision.