I shall be tweeting on TIA 20-20 Ideas 2023 episode (7th Edition) today. This is being organized by @TIA_Investors .
Starts with introduction speech by AK Narayanan.
@TIA_Investors Ideas since 2017 have largely beaten index(Nifty/Sensex) .
First speaker is G Maran of @unificapital . He is regular presenter in TIA 20-20 as opening speaker.
Maran reminisces about when he started his career (early 1990s) when there were practically no institutional platforms to learn/discuss investing in India.
Life Expectancy of India is now 70 vs 50 (1991).
Only 5% of Indians own Demat AC, credit card and Income Tax.
Only 5% of Indians own Demat AC, credit card and Income Tax.
He elaborates on how Healthcare services demand will increase and his stock idea is about it.
Says how media age of India around 28 and how no of doctors passing out this year is 1 lakh vs 15000 2 decades back.
Says how media age of India around 28 and how no of doctors passing out this year is 1 lakh vs 15000 2 decades back.
His stock idea is : Narayana Hruda (NH). Elaborate its success story. Has outsized PAT growth last few years due to Cayman Island unit.
Average Revenue per Bed growing 9.5% CAGR, EBIDTA margin 21%.
Average Revenue per Bed growing 9.5% CAGR, EBIDTA margin 21%.
Cayman Islands unit has disproportionately helped in numbers but overall execution is good.
NH - Very low leverage, best ROE in Industry
Stock hasn't moved much 2014-20
. Has moved post 2020.
PE 25 vs 75 for Apollo Hospitals
Stock hasn't moved much 2014-20
. Has moved post 2020.
PE 25 vs 75 for Apollo Hospitals
His stresses it's not cheap but it is fairly priced with consistent earnings growth. Peers are more expensive. Hospitals always enjoy higher PE due to non volatile revenue growth. But lot of caped will be there.
Concludes presentation.
Concludes presentation.
Next speaker is Ravi Dharamshi , Founder + CIO of Valuequest, a PMS. Ranked among top PMS schemes of 10+ years tenure.
His stock idea is Kaynes Technologies. Player in Electronic Manufacturing Space. Recent IPO.
Disclaimer- Group owns 5% of the stock.
Speaks about how demographics of China (1 Child Policy) + mid income country means factory jobs will move out - China +1 factor. Enquiries then plans now actual shift happening. Diversifying supply chain is a reality now.
Speaks about how demographics of China (1 Child Policy) + mid income country means factory jobs will move out - China +1 factor. Enquiries then plans now actual shift happening. Diversifying supply chain is a reality now.
Global EMS industry heading to be a 1 trillion $ industry.
Electronic component industry as large as Auto component industry.
However, in latter, India has 80% indigenisation vs 3% for electronics.
Vietnam EMS industry is 120B$ vs 14B$ for India.
Electronic component industry as large as Auto component industry.
However, in latter, India has 80% indigenisation vs 3% for electronics.
Vietnam EMS industry is 120B$ vs 14B$ for India.
Projection is 20B$ India EMS industry size in 2023 goes to 80B$ by 2026.
Both domestic and export mkt expected to grow 2.2x in next 5 years.
Both domestic and export mkt expected to grow 2.2x in next 5 years.
60% of EMS industry is mobile.
Right now 1% of Apple production in India vs 95% China.
Last 6 years CAGR of EMS is 15% p.a.
Describes growth data of sub segments in industry (mobile, PC etc)
Right now 1% of Apple production in India vs 95% China.
Last 6 years CAGR of EMS is 15% p.a.
Describes growth data of sub segments in industry (mobile, PC etc)
Promoter profile history and product portfolio discussed.
This business, cyclicality low due to B2B biz. Money raised mainly in IPO. Biz is not asset intensive but Working capital intensive. WC cycle now 110 days, to reduce to 90 days .
Concludes presentation.
This business, cyclicality low due to B2B biz. Money raised mainly in IPO. Biz is not asset intensive but Working capital intensive. WC cycle now 110 days, to reduce to 90 days .
Concludes presentation.
Next speaker is Vikas Khemani. CEO of Edelweiss securities.
Describes his framework- Magic Basket.
Big money made when there is earning growth + valuation rerating.
Describes his framework- Magic Basket.
Big money made when there is earning growth + valuation rerating.
Example- TCS 2009 to 2014,ICICI Bank 2018-21
His stock idea is : AB Capital.
Diversified fin services player with insurance, NBFC, AMC and Wealth Management biz.
Largest non Bank NBFC, large wholesale lending NBFC.
Their strength is parentage enabled to borrow cheap.
Diversified fin services player with insurance, NBFC, AMC and Wealth Management biz.
Largest non Bank NBFC, large wholesale lending NBFC.
Their strength is parentage enabled to borrow cheap.
Strong parent matters in NBFC. MnM Finance had 10% NPA, yet AAA rating thanks to parentage /promoter pedigree.
Post ILFS, AB capital NBFC has transformed big .
Post ILFS, AB capital NBFC has transformed big .
New CEO - Vishaka Muliye who had earlier long experience in ICICI Bank.
Bet on new leadership.
Lending business, risk more important to manage than growth.
Concludes presentation saying it's only NBFC where promoter ownership is very high (72%). Negligible MF ownership.
Bet on new leadership.
Lending business, risk more important to manage than growth.
Concludes presentation saying it's only NBFC where promoter ownership is very high (72%). Negligible MF ownership.
Next speaker is Aditya Khemka ,rich working experience in Healthcare related equity research. Now works with InCred PMS.
He began saying ,: Last 10 years Nifty gave 3x and Nifty Healthcare gave 3.1x.
He began saying ,: Last 10 years Nifty gave 3x and Nifty Healthcare gave 3.1x.
Describes industry - Unbranded generics , branded generics, API/CDMO, Hospitals, Diagnostics.
Branded Generics = FMCG
API = China + 1 story.
China's pollution laws were lax earlier so 30B$ exports vs 4B$ India. Now it's equalizing so API exports of India can go 2-3x
Branded Generics = FMCG
API = China + 1 story.
China's pollution laws were lax earlier so 30B$ exports vs 4B$ India. Now it's equalizing so API exports of India can go 2-3x
Now goes to his stock India - Krsnaa diagnostics. 1270 cr Mcap
Fastest growing diagnostic player, asset light model. B2G player. IPO at Rs 954, now trading at Rs 375, 6x FY25 EV/EBIDTA
Current valuation reasonable,expects only 3%
CAGR so Ver reasonable bet.
Ends presentation.
Fastest growing diagnostic player, asset light model. B2G player. IPO at Rs 954, now trading at Rs 375, 6x FY25 EV/EBIDTA
Current valuation reasonable,expects only 3%
CAGR so Ver reasonable bet.
Ends presentation.
Next speaker is Sanjeev Pandiya.
Has career as CFO of many companies, notably SRF.
His stock is based on Agriculture and speciality chemicals.
His stock idea is UPL
Has career as CFO of many companies, notably SRF.
His stock is based on Agriculture and speciality chemicals.
His stock idea is UPL
Why UPL ? It's not a business but ecosystem.
It's world's biggest non patent manufacturing and distribution ecosystem wrt Agri inputs .
Problem solving platform for global farmer.
No 5 in world by size.
63B$ industry in that UPL is a 7B$ player .
It's world's biggest non patent manufacturing and distribution ecosystem wrt Agri inputs .
Problem solving platform for global farmer.
No 5 in world by size.
63B$ industry in that UPL is a 7B$ player .
China consumes 40x India pesticide and 2x India fertilizer consumption.
Runway for agrochemicals consumption high in India and UPL will dominate.
Runway for agrochemicals consumption high in India and UPL will dominate.
2017 Arysta acquisition was the big debt. Now acquisition debt is reduces lot and replaced with working capital debt which is cheaper so CF should be better. If they get into molecule innovation they will be globally dominant.
Concludes saying it's cheap and worth look.
Concludes saying it's cheap and worth look.
Next speaker from Stalwart Advisors is @Jatin_Khemani .
Begins with disclosures.
Begins by saying - Big money made by betting on Change - be it perception or growth Delta or quality of growth.
Begins with disclosures.
Begins by saying - Big money made by betting on Change - be it perception or growth Delta or quality of growth.
He revisits his 2018 idea - GAEL (Gujarat Ambuja Exports). His stock idea gone up 5x in last 5 years. Has cut positions still own some.
Now comes to present idea. It's play on steel wire/rope
Now comes to present idea. It's play on steel wire/rope
Demand mkts are Oil, Mining, Infra etc. Mission critical applications where cost of failure high so value added product commands greater price.
High entry barrier due to approval cycle being long (2+ years)
50% India mkt share, 6% global, 90% share in India ports. 5500 cr Mcap.
Last many years was near bankrupt, no growth in industry. 85% capacity utilization,310 planned Capex.
Last many years was near bankrupt, no growth in industry. 85% capacity utilization,310 planned Capex.
Has retired all its 4800 cr debt which was taken to put a steel plant ,plant now sold to Tata Steel.
Dividend payment restored after 9 year gap. Very low ownership of DIIs. Turned from 350 cr loss in 2017 to 270 cr profit in 2022.
Can double in next 3 years.
Dividend payment restored after 9 year gap. Very low ownership of DIIs. Turned from 350 cr loss in 2017 to 270 cr profit in 2022.
Can double in next 3 years.
Concludes by revealing that the stock idea is : Usha Martin Wire Ropes.
Next speaker is Mehul Bhatt. Was with HSBC Global Asset mgmt,now with Oyster Rock Capital.
His stock idea is : Redington India
His stock idea is : Redington India
9 bill $ distribution + supply chain solutions provider.
Provides solution for Commercial IT and mobile phone supplier. Just 2.5% margins biz. Moving from product to service.
Partnership with 250+ IT hardware brands. Apple biz is 25000 cr +.
Provides solution for Commercial IT and mobile phone supplier. Just 2.5% margins biz. Moving from product to service.
Partnership with 250+ IT hardware brands. Apple biz is 25000 cr +.
Getting into Cloud Biz
Own Proconnect - logistics biz which may be spun off.
Diversified ownership, 36% FII ownership.
Key risk is Apple scaling its Own Store + Online Channel for sales in India. Dividend yield is decent. Margin expansion is the bet here.
Concludes presentation.
Own Proconnect - logistics biz which may be spun off.
Diversified ownership, 36% FII ownership.
Key risk is Apple scaling its Own Store + Online Channel for sales in India. Dividend yield is decent. Margin expansion is the bet here.
Concludes presentation.
Next speaker is @Amit_Jeswani1 from Stallion Asset Management.
Begins saying they are Growth Imvestors. Favorite holding period is till growth ends.
MF/PMS/AIF in India made 25000 cr revenue last year (2022)
Begins saying they are Growth Imvestors. Favorite holding period is till growth ends.
MF/PMS/AIF in India made 25000 cr revenue last year (2022)
Sectors are Cyclical. In long run every sector, profit pool is dominated by 2-3 players.
Example of Bag/Luggage industry. Shows how in India Safari industries has gained share from 13% in 2017 to 30% in 2022.
Says there r 72 key sectors, in each, some players gaining mkt share.
Example of Bag/Luggage industry. Shows how in India Safari industries has gained share from 13% in 2017 to 30% in 2022.
Says there r 72 key sectors, in each, some players gaining mkt share.
Example of 2W industry , TVSMotors gained big share since 2014.
Now comes to stock idea. It is APL Apollo - key player in Structural Steel Tubes.
Their capacity up from 80000 Tonne in 2007 to 4Mill Tonne in 2022. It's a mkt leader.
Now comes to stock idea. It is APL Apollo - key player in Structural Steel Tubes.
Their capacity up from 80000 Tonne in 2007 to 4Mill Tonne in 2022. It's a mkt leader.
Mentions example of SBI Life gained share from 4% in 2014 to 15% in 2022.
PB Fintech = 1% of India Insurance mkt. Can make 1000 cr PAT by FY27.
Concludes presentation saying bet on Frameworks.
PB Fintech = 1% of India Insurance mkt. Can make 1000 cr PAT by FY27.
Concludes presentation saying bet on Frameworks.
Next speaker Ankit Kanodia ,Co founder partner of Smart Sync partners, RIA.
His framework- Ancillary ka Ancillary.
It's like bet on OEM vs Bet on those who supply to them.
His stock idea is RateGain technologies.
Serves US /UK hotel industry.
His framework- Ancillary ka Ancillary.
It's like bet on OEM vs Bet on those who supply to them.
His stock idea is RateGain technologies.
Serves US /UK hotel industry.
Travel Technology company - Into Martech, Distribution and Daas.
Details on how they used Tech to aid Hotel industry to charge profitably.
2200 customers - airlines, Hotel chains, travel biz etc
Details on how they used Tech to aid Hotel industry to charge profitably.
2200 customers - airlines, Hotel chains, travel biz etc
Good in acquisition and strategic investment.
Competition is intense but Rategain present entire value chain and its their advantage. Lot of their revenues based on subscription so recurring. So less cyclical. Trades at 9x sales typical of SaaS businesses. Ends presentation.
Competition is intense but Rategain present entire value chain and its their advantage. Lot of their revenues based on subscription so recurring. So less cyclical. Trades at 9x sales typical of SaaS businesses. Ends presentation.
Next speaker- KR Senthilnathan, works at NAFA asset managers
His stock idea is Greenpanel.
Investing framework- structural change . Earlier use of heavy teak wood hand made furniture. Now shift to Plywood, MDF (Medium Density Fiberboard).
Similar pattern - GI Pipes to PVC
His stock idea is Greenpanel.
Investing framework- structural change . Earlier use of heavy teak wood hand made furniture. Now shift to Plywood, MDF (Medium Density Fiberboard).
Similar pattern - GI Pipes to PVC
India - Wood panel 28000 cr mkt in that MDF is 3000 cr growing at 15-20% p.a. MDF to plywood in India is 20-80 vs 80-20 in US.
Plywood procured from forest abroad vs MDF is reforestation eucalyptus.
Mcap of Greenpanel is 3400 cr.
Plywood procured from forest abroad vs MDF is reforestation eucalyptus.
Mcap of Greenpanel is 3400 cr.
Main concern - important dumping from SE Asia, capacity addition domestically including competition (Century Ply etc).
Points on 13x trailing PE says it's reasonable. Concludes presentation .
Points on 13x trailing PE says it's reasonable. Concludes presentation .
Post lunch session commences . Next speaker is Aditi Kasbekar . Extensive industry experience. Speaks as individual investor. Her stock idea is Kirloskar Oil Engines.
4500 cr Mcap, 4000 Cr Revenues. 77 year old business. Serves power , industrial solutions and Agri Pump/farm equipment.
Kirloskar Oil (KOEL) - 2x sales in 3 years. Play on Genset and Infra/Industrial theme.
Kirloskar Oil (KOEL) - 2x sales in 3 years. Play on Genset and Infra/Industrial theme.
Increasing share of renewable energy (volatile source) and new Pollution norms (which unorganized competition cannot match) are drivers too. BS5 norms.
Replacement demand as well.
White labeling of engine by OEM is also opportunity.
Replacement demand as well.
White labeling of engine by OEM is also opportunity.
Diversified last 5 yrs due to lack of growth in core mkt. Now they are planning to reverse.
Bal Sheet strong , PAT up 145%, stock a 14X LTM. Huge discount to Cummins (40 PE) & Honda (22 PE).
Downside - Pollution norms may slow growth.
Concludes presentation.
Bal Sheet strong , PAT up 145%, stock a 14X LTM. Huge discount to Cummins (40 PE) & Honda (22 PE).
Downside - Pollution norms may slow growth.
Concludes presentation.
Next speaker is @niteen_india co founder of @CapitalAurum . His stock idea is Greaves Cotton. 160 year old business. Power train solutions for diesel, cng petrol CVs.
Has ventured into EVs via Ampere Electric. Mcap 3000 cr.
Investing big in EVs (2W and 3W)
Has ventured into EVs via Ampere Electric. Mcap 3000 cr.
Investing big in EVs (2W and 3W)
Good play on EV space in India.
3 major division- Power train, EV, retail.
Got investor in EV valuing it as 3000 cr which is equal to its MCap.
Stock price 8yrs in a range
Risks on Electric motility side - subsidy removal, raw material cost etc
Concludes presentation.
3 major division- Power train, EV, retail.
Got investor in EV valuing it as 3000 cr which is equal to its MCap.
Stock price 8yrs in a range
Risks on Electric motility side - subsidy removal, raw material cost etc
Concludes presentation.
Next speaker is @stockifi_Invest . He is from Stockifi Invest group.
Stockify focusses on Small and quality Midcaps. His stock idea is HBL power systems
Stockify focusses on Small and quality Midcaps. His stock idea is HBL power systems
HBL has 3 biz verticals- Battery , Rail Electronics & Defense. Last 2 big growth areas. Highly diversified client base.
Railways huge growth opportunity in implementation of Rail interlocking and electronic Signalling.
Likewise defense- niche category - submarine, missiles etc
Railways huge growth opportunity in implementation of Rail interlocking and electronic Signalling.
Likewise defense- niche category - submarine, missiles etc
Spent 300 cr in RnD . It's a moat.
Risks - ageing promoter, commodity price fluctuations, Environmental hazards.
2800 cr MCap PAT 98cr, PE 28.
300 cr PAT possible by FY25. Hence reasonably priced.
Concludes presentation .
Risks - ageing promoter, commodity price fluctuations, Environmental hazards.
2800 cr MCap PAT 98cr, PE 28.
300 cr PAT possible by FY25. Hence reasonably priced.
Concludes presentation .
Next presenter : Dayanand Deshpande. Veteran investor who focuses on spinoff and special situations investing. Run Mystic Wealth.
His team member presenting the idea. The idea is Apcotex industries.
His team member presenting the idea. The idea is Apcotex industries.
Apcotex industries was division of Asian Paints,separated in 1990. Major Indian player in synthetic latex 45% and rubber 55%. Raw material is Oil/Gas. Apcobuild is their B2C product for their industry.
Use in paper , construction, Tyre industry.
Use in paper , construction, Tyre industry.
Proprietary product, process and takes years to build facility and sell.
Global competition is Synthomer UK which is 25 times bigger. Long growth runway, no local competition, large Capex which will increase capacity by 70% by 2023.
Global competition is Synthomer UK which is 25 times bigger. Long growth runway, no local competition, large Capex which will increase capacity by 70% by 2023.
10 years sales growth 4x, profit 10 yrs up 9x. Now 100% utilization.
Opportunity to enter stock. Promoter buying a bit.
Risk- import dumping, RM prices.
Concludes presentation.
Opportunity to enter stock. Promoter buying a bit.
Risk- import dumping, RM prices.
Concludes presentation.
Next speaker is @deepakshenoy CEO of CapitalMind.
His stock idea - LIC (Life Insurance Corporation)
Begins saying- Knows When to break rules.
His stock idea - LIC (Life Insurance Corporation)
Begins saying- Knows When to break rules.
Why LIC ?
Large Mature Insurer.
4L crore Mcap.
Trigger - Profitability spike. Many one timers. Will go away soon.
Focus from Par to Non Par policies .
65% of Indian insurance premiums goes to LIC. They r big in Group Insurance (interesting pt).
40L cr AUM, annual premiums 2L cr
Large Mature Insurer.
4L crore Mcap.
Trigger - Profitability spike. Many one timers. Will go away soon.
Focus from Par to Non Par policies .
65% of Indian insurance premiums goes to LIC. They r big in Group Insurance (interesting pt).
40L cr AUM, annual premiums 2L cr
LIC structure change - 5% surplus to shareholder GOI earlier
Now non Par policy and ULIP surplus goes to shareholders .
66% asset in participating pool
Eventually 10% Par policy profit and 100% non Par will go to shareholders.
Which is 5000 cr profit per quarter ?
Now non Par policy and ULIP surplus goes to shareholders .
66% asset in participating pool
Eventually 10% Par policy profit and 100% non Par will go to shareholders.
Which is 5000 cr profit per quarter ?
Looks like mgmt did not/wasn't aware to manage shareholder communications, this is getting sorted.
Predicts Q4 likely to see big profit jump surprise.
Insurance penetration is low in India.
Non Par will be 25% soon.
Predicts Q4 likely to see big profit jump surprise.
Insurance penetration is low in India.
Non Par will be 25% soon.
Lot of one timers in LIC will go away per Deepak.
Projects 27000 cr of PAT by FY25 , so 13X PE. 0.7x EV.
PAT will be dividended out .
Risks - Tax regime change. 83% policy maybe from 80c saving.
GOI OFS- bad but will be a Nifty stock.
Ends presentation.
Projects 27000 cr of PAT by FY25 , so 13X PE. 0.7x EV.
PAT will be dividended out .
Risks - Tax regime change. 83% policy maybe from 80c saving.
GOI OFS- bad but will be a Nifty stock.
Ends presentation.
Next presenter is @bala_vidya ,Co founder of PrimeInvestor.in.
Speaks about :
Mill liners provide mill equipment protection in mining. They are consumables critical to mining industry ,reduce friction etc.
There aren't many suppliers for this.
Speaks about :
Mill liners provide mill equipment protection in mining. They are consumables critical to mining industry ,reduce friction etc.
There aren't many suppliers for this.
33% mill liner demand from Copper industry, 42% from Gold mining.
The stock idea is : Tega Industries.
4200 cr mcap. 79% promoter holding. MFs slowly adding. Not widely heard of. Listed year back.
5th largest player globally .
Presence in LatAm ,Africa and 3 factories in India
The stock idea is : Tega Industries.
4200 cr mcap. 79% promoter holding. MFs slowly adding. Not widely heard of. Listed year back.
5th largest player globally .
Presence in LatAm ,Africa and 3 factories in India
Industry isn't high topline,but high margin. It is consumable industry not high Capex industry . Did breakthrough product DynaPrime.
Last 4 years PaT 4x up.
+ves: Moat, good margin, global foot print, not prone to metal price cycles.
Dynaprime to replace traditional metal liners
Last 4 years PaT 4x up.
+ves: Moat, good margin, global foot print, not prone to metal price cycles.
Dynaprime to replace traditional metal liners
Risk - Stock is bet on thus breakthrough product.
Chile is a key market.
Has filed patent for 4 more products.
PE 27 around.
Concludes presentation .
Chile is a key market.
Has filed patent for 4 more products.
PE 27 around.
Concludes presentation .
Next speaker is @suru27 of Scientific Investing firm.
He starts mentioning his participating in 2018 TIA 20-20
His stock idea is Sudarshan Chemicals.
It's in pigment business used to various industry verticals.
Last 3 Years margins hv come down.
He starts mentioning his participating in 2018 TIA 20-20
His stock idea is Sudarshan Chemicals.
It's in pigment business used to various industry verticals.
Last 3 Years margins hv come down.
Current pain period for business after 10 years of good show. No 3 globally, 10x previous 10 years.
The business is cyclical Previous down cycles were 2008 and 2013..
Debt ratio reasonable now vs 2013.
Last 10 yrs 3x revenues and 4x CF growth.
Size of opportunity 8B$.
The business is cyclical Previous down cycles were 2008 and 2013..
Debt ratio reasonable now vs 2013.
Last 10 yrs 3x revenues and 4x CF growth.
Size of opportunity 8B$.
Global growth of mkt 4% Domestic 8-9%.
Promoters core technocrats.
Concludes presentation.
Promoters core technocrats.
Concludes presentation.
Next speaker is Sandeep Daga from Nine Rivers Capital. His stock idea is Fino Payments bank
New age listed co. Corrected lot since IPO
New age listed co. Corrected lot since IPO
Started as Banking correspondent of ICICI Bank. Operating mkt hinterland of India .
They make merchant traders as banking outlet
Converts Walk in into these merchants into CASA accounts
In short Fintech enabled financial inclusion business.
300 BPs spread.
They make merchant traders as banking outlet
Converts Walk in into these merchants into CASA accounts
In short Fintech enabled financial inclusion business.
300 BPs spread.
CMS services for corporates operating in rural India is another biZ.
Profits showing J curve
Risks incl failure to cross sell.
Concludes presentation.
Profits showing J curve
Risks incl failure to cross sell.
Concludes presentation.
Next presenter is R Sivaramakrishnan , Co founder in "Sincere Syndication" a emerging Fintech doing wealth management for HNIs.
His stock idea is defense stock -
Speaks of how opportunity is from established biz working like a startup.
His stock idea is defense stock -
Speaks of how opportunity is from established biz working like a startup.
His stock idea has done RnD for enabling 10x growth in next few years.
Size of India defense mkt is 5Lakh crores.
Zero Debt, 2.5x order book.
Stock idea is Data Patterns.
Focussed on Radars ,Electronic Warfare and like.
Global mkt size of Radars : 40B$
Concludes presentation.
Size of India defense mkt is 5Lakh crores.
Zero Debt, 2.5x order book.
Stock idea is Data Patterns.
Focussed on Radars ,Electronic Warfare and like.
Global mkt size of Radars : 40B$
Concludes presentation.
Last presenter of day is @balajispice from iThought Financial consulting.
Discusses his investing philosophy.
Strong ownership ,profitable biz model, addressable mkt and conservative risk mgmt.
Large cap idea which fulfills the idea.
Discusses his investing philosophy.
Strong ownership ,profitable biz model, addressable mkt and conservative risk mgmt.
Large cap idea which fulfills the idea.
His stock idea is India opportunity stock. Can be benchmark stock in portfolio.
Every 4-5 years their annual profit is their quarterly profit.
Has outperformed Nifty by 8% every year in 21 years.
His stock idea is Hdfc Bank.
Dwells bit into its history and CEO.
Every 4-5 years their annual profit is their quarterly profit.
Has outperformed Nifty by 8% every year in 21 years.
His stock idea is Hdfc Bank.
Dwells bit into its history and CEO.
And with this, the TIA 20 20 Ideas session is concluded.
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