Amit Agarwal's Model Portfolio

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Update as on 29th Aug 2022

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# Earned 12 Liquid bees unit till date.

# Sold 382 liquid bees unit for a cash flow of 382000

# Added 160 shares of Selan Exploration @ 250 for an investment of 40000

# Added 50 shares of Jindal Drilling @ 240 for an inv of 12000

Portfolio as on 29th Aug 2022:

Stock                           Qty                    Avg. Price      Investment

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Selan Exploration      160                   250               40000

Jindal Drilling             50                    240               12000

Cash                                                                              3,31,300

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Total                                                                            3,83,300

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Update as on 20th Jan 2021

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# Exiting all the stock positions to go 100% cash.

# Primary reason being the market on steroid which is exactly the opposite of what was happening in march 2020. At 40 time pe multiple based on FY-20 EPS the market is extremely overvalued and stretched. Even if we assume FY-23 Nifty EPS of 700 (almost double of FY-20), it is still trading at 20 times forward multiple.

# At mid sized bank the deposit is yielding 8% or 12.5 pe multiple while the stock market is trading at 40 times on TTM basis and 20 times on an optimistic eps assumption for FY-23 FY. I would rather keep my money in debt rather take risk on stock at current levels. Hence the cash call.

# Sold Tata Motors DVR 1600 shares @ 106 thereby generating a cash of 1,69,600 /-

# Bought 170 liquid bees at 1000 each.

# Total portfolio stands at 3,71,300/-

Portfolio as on 20th Jan 2021:

Stock                  Qty                    Avg. Price      Investment

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Liquid Bees      370                   1000               370,000

Cash                                                                      1,300

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Total                                                                    3,71,300

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Update as on 7th Jan 2021

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Updating the model portfolio after a big gap pf almost 1.5 years and there has been dramatic moves in stock markets across the world during that time. The pandemic made everyone felt that the world is coming to an end but things stabilized after some time and we are starring at all time highs in all the markets globally. The stimulus packages across the world to soften the impact of covid on economy is creating a downward pressure on currencies across the world and that is fueling inflation in all the commodities.

It was the first time in history that Crude oil futures contract went into negative (-40) in march 2020 which essentially meant that producers were paying for you to hold the stock. That was unprecedented. By the end of the year things reversed 180 degree and commodities are witnessing massive inflation. 

One such commodity stock is in our portfolio which is tata steel and steel prices being at all time high, the sentiment is very bullish on the stock. Hence to cash the euphoria, the holding in tata steel is being vacated. Also selling ongc at loss since the company has started making losses due to mismanagement, high debt, low gas prices etc. Since govt revenue is under pressure, likely OFS issues and capital raising will keep the stock under pressure.

# Sold Tata steel 200 shares at 720 thereby generating a cash of 144000 and profit of 75000, a return of 108% in 1.5 years.

# Sold ONGC 500 shares at 98 thereby generating a cash of 49000 and a loss of -15500.

# Purchased liquid bees worth 2 lacs

Portfolio as on 7th Jan 2020:

Stock                  Qty                    Avg. Price      Investment

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TMDVR^              1600                 93                    148,800

Liquid Bees      200                   1000               200,000

Cash                                                                           1,700

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Total                                                                    3,50,500

^ Tata motors dvr is kept intact as this appears to be the most undervalued stock in cnx 500. Due to brexit, pandemic and massive fall in CV sales in India, the DVR stcok went to a low of around 29 in march 2020. At that time the market panicked and discounted bankruptcy for the stock. But with all the cost cutting measures undertaken and significant improvement in local PV sales along with expectation of good FY-22 sales in CV and PV, the company is expected to do at least 35000 crores of operating profit on consolidated basis which value the company at 0.87 time OP at cmp of Rs. 80. That is absurd valuation and beyond my understanding as to why such kind of valuation is given to a company which is generating over $40 billion sales, employs over 80000 people and is a significant company of Tata Stable. Governance, scope of electrification should itself give much higher OP multiples in future. 

so even if we discount OP multiple of 2 times next year then the DVR stock must be valued at Rs 183 on very conservative basis on the expanded equity shares of 382 crore shares after capital infusion by Tata Sons.

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Update as on 17th Sep 2019

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## Sold PSB 1000 Shares @ 20 thereby taking a loss of Rs. 18000 
## Sold Suryalaxmi Cotton 600 Shares @ 22 thereby taking a loss of Rs. 27000
## Sold Idea 1000 Shares @ 5 thereby taking a loss of Rs. 37000
## Sold 400 Shares of Goldiam at 117 thereby making a profit of 20000

## Earned 2 units of Liquid bees on 100 units of holding worth 2000
## Sold 102 Liquid Bees worth RS. 1,02,000

## Bought Tata Steel 200 shares at 345
## Bought Tata Motors DVR 800 shares at 56
## Bought 500 shares of ONGC at 129
## Total Cash Generated from Selling is Rs 1,87,000
## Total Cash used in purchasing new shares is 178300



Portfolio as on 17th Sep 2019:

Stock                  Qty                    Avg. Price      Investment

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ONGC                 500                   129                   64,500    

TMDVR              1600                 93                    148,800
Tata Steel           200                   345                   69,000
Cash                                                                           8,700
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Total                                                                    2,91,000

** The Portfolio churn has reduced the networth at cost by roughly 16% since 7th March 2019. Exposure to large global stocks should make up for the losses in coming months. Midcaps and small caps might have bottomed out but lack of confidence, recent memory of bloodbath and poor income growth due to economic turmoil will keep their prices in check and investors are not going to bid up and buy in hurry except selective stories. Hence the exposure has been entirely shifted to undervalued large caps.

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Update as on 7th March 2019

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## Sold Balrampur Chini Mills 1000 Shares @ 140 thereby making a profit of 65500 
## Bought Tata Motors DVR 400 Shares @ 95 bringing down the average price to 130.
## Cash residual used to purchase Liquid Bees 100 units for Rs. 1,00,000


Portfolio as on 7th March 2019:

Stock                  Qty                    Avg. Price      Investment

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PSB                     1000                  38                    38,000    

Goldiam             400                    67                    26,800
TMDVR              800                   130                104,000
Suryalaxmi        600                    57                    34,200
Idea                     1000                  42                   42,000
Liquid Bees        100                     1000            100,000
Cash                                                                           2,189
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Total                                                                    3,47,189

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Update as on 24th Sep 2018

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Allocating cash further to reduce cost of our holdings after massive panic correction.

## Bought Balrampur Chini Mills 500 Shares @ 75 
## Bought Tata Motors DVR 200 Shares @ 128
## Bought Suryalakshmi Cotton Mills 300 Shares @ 44
## Bought Idea Cellular 1000 Shares @ 42   

##  Earned Roughly 3 units of Liquid Bees on 115000 Since April.

##  Sold 118 units of Liquid Bees worth 118000.

Portfolio as on 24th Sep 2018:

Stock                  Qty                    Avg. Price      Investment

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Balram chini     1000                  74.5               74,500
PSB                     1000                  38                  38,000    

Goldiam             400                    67                  26,800
TMDVR              400                   165                66,000
Suryalaxmi        600                    57                  34,200
Idea                     1000                  42                  42,000
Cash                                                                            189
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Total                                                                    2,81,689

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Update as on 12th April 2018

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Allocating cash to buy some beaten down names after decent correction since the portfolio was liquidated.

## Bought Balrampur Chini Mills 500 Shares @ 74 
## Bought Punjab Sind Bank 1000 Shares @ 38 
## Bought Goldiam International 400 Shares @ 67
## Bought Tata Motors DVR 200 Shares @ 202
## Bought Suryalakshmi Cotton Mills 300 Shares @ 70   

##  Earned Roughly 5 units of Liquid Bees on 273000 till date.
##  Sold 163 units of Liquid Bees worth 163000.


Portfolio as on 12th April 2018:

Stock                  Qty                    Avg. Price      Investment

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Balram chini     500                    74                   37,000
PSB                     1000                  38                  38,000    

Goldiam             400                    67                  26,800
TMDVR              200                   202                40,400
Suryalaxmi        300                    70                  21,000
Liquid Bees        115                     1000            115,000
Cash                                                                            489
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Total                                                                    2,78,689

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Update as on 13th Nov 2017

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Liquidating the entire portfolio and sitting on sideline for opportunities after a decent correction.

## Sold Bharti Airtel 150 Shares @ 500 
## Sold Majesco 100 Shares @ 524 
## Sold Mindtree 100 Shares @ 504 
## Sold HGS 50 Shares @ 560 
## Sold Sunpharma 75 Shares @ 535 
## Sold Coal India 100 Shares @ 275 



Portfolio as on 13th Nov 2017:

Stock                  Qty                    Avg. Price      Investment

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LiquidBees      273                                              2,73,000
Cash                                                                                689

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Total                                                                    2,73,689


The portfolio witnessed 22% appreciation in just 3 months which suggest the kind of euphoria getting built in the stock markets. It was not expected when I picked stocks just 3 months back. This appreciation is not bcoz of my superior stock picking skills but bcoz of benign environment. From portfolio standpoint there are no good opportunities easily available at these levels and hence taking a call on sitting on 100% cash. It seems globally a significant correction is imminent as the markets across the world have been running as if there is no tomorrow and ignoring all the potential risk. Staying invested is mutual funds mandate but retail shareholders have the choice and flexibility to stay on cash when nothing is worth buying.    


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Update as on 10th Aug 2017

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Utilizing the sharp fall in Sun Pharma and Coal India to allocate cash in the portfolio.

## Bought Sunpharma 75 Shares @ 460 
## Bought Coal India  100 Shares @ 240


Portfolio as on 10th Aug 2017:

Stock                  Qty                    Avg. Price      Investment

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Bharti Airtel     150                     344                51,600
Majesco             100                    385                 38,500    

Mindtree           100                    448                 44,800
HGS                   50                      588                 29,400
Sun Pharma     75                       460                 34,500
Coal India        100                     240                 24,000
Cash                                                                            264
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Total                                                                    2,23,064

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Update as on 7th April 2017

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Restarting the portfolio with some names where significant opportunities are emerging. 

Bharti Airtel: After all the scare that RJIO created in the telecom market, I believe the strongest player will only get stronger from here onwards. Bharti Airtel is the last to fall if competitive intensity carry on at the same pace. In this along with the sector govt revenue is also getting impacted. Hence some sanity should come to this space and should make very good return in next 2 years.

Majesco: A U.S based P&C insurer trading at EV less than sales while its nearest competitor guidewire trades at many times sales. I expect it to generate multibagger returns in 2 years if management continue to make deal wins from large insurers. 

Hinduja Global: The stock is trading at roughly one third EV to sales  based on FY-18 numbers.

Mindtree: One of the best mid tier IT services company. I expect in next 12 months the policy related issues in U.S will get largely over and the stock should start commanding at least 16-18 PE multiples on FY-19 earnings.

## Earned Rs. 3000 on our Liquid bees investments in 4 months. Sold all the holdings in Liquid Bees

## Bought Bharti Airtel 150 shares at 344

## Bought Majesco 100 shares at 385

## Bought Mindtree 100 shares at 448

## Bought Hinduja Global 50 shares at 588

Portfolio as on 7th April 2017:

Stock                  Qty                    Avg. Price      Investment

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Bharti Airtel     150                     344                51,600
Majesco             100                    385                 38,500    

Mindtree           100                    448                 44,800
HGS                   50                      588                 29,400
Cash                                                                      58,764
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Total                                                                    2,23,064

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Update as on 1st Dec 2016

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Considering the headwinds in terms of chaotic demonetization and its likely impact on growth along with GST rollout which is likely to be negatively impacting the GDP in short term, the portfolio is being liquidated to stay in cash for some time. 

Also there are many events lined up such as Italian Referendum, U.S rate hike, and the impact of GAAR being applicable from 1st April 2017. FIIs did almost 20000 crores of selling in the month of Nov in equities and similar amount in debt as well. All these things are pointing towards either a correction or a lack luster market for next 5-6 months. 

So in my view Fixed Income is relatively safer place to park money at this point of time from the risk-reward perspective.

## Sold Idea cellular 400 shares at 74 resulting in loss of Rs.3200
## Sold Bharti Airtel 50 shares @ 316 resulting in loss of Rs. 1600
## Sold BOI 300 shares at @ 116 resulting in loss of Rs. 5700
## Sold Mastek 200 shares @ 142 resulting in gain of Rs. 2400
## Sold L&T Infotech 50 shares @ 650 resulting in gain of Rs. 1700
## Sold Selan Exploration 100 shares at 193 resulting in gain of Rs. 300
## Sold ITC 100 shares @ 233 resulting in gain of Rs. 700
## Sold Ambuja Cements 100 shares @ 207 resulting in gain of Rs. 1200
## Sold Sun Pharma 20 Shares at 720 resulting in gain of Rs. 600

## Bought Liquid Bees 200 at 1000

The above transactions resulted in loss of Rs. 3600 and the net portfolio is having only Liquid Bees worth 2 lakhs and cash Rs. 20,064. 

Stock                  Qty                    Avg. Price      Investment

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Liquid Bees       200                 1000                     2,00,000
Cash                                                                              20,064

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Total                                                                        2,20,064



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Update as on 22nd Nov 2016

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## Bought ITC ltd 100 shares @ 226
## Bought Ambuja Cements 100 shares @ 195
## Bought Sun Pharma 20 shares @ 690

Stock                  Qty                    Avg. Price      Investment

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Idea Cellular     400                 82                     32,800 
Bharti Airtel     50                     348                  17,400
BOI                    300                   136                  40,800    

Mastek              200                   130                  26,000
L&T Infotech   50                      616                  30,800
Selan Exp         100                    190                  19,000
ITC                    100                    226                  22,600
Ambuja            100                    195                   19,500
Sun Pharma    20                      690                  13,800
Cash                                                                           964
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Total                                                                    2,23,664

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Update as on 06th Oct 2016

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## Sold Cairn India 50 shares @ 228.5 thereby generating a gain of Rs. 1100
## Bought Mastek Ltd 200 shares @ 130
## Bought L&T Infotech 50 shares @ 616
## Bought 100 Selan exploration 100 shares @ 190

Stock                  Qty                    Avg. Price      Investment

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Idea Cellular     400                 82                     32,800 
Bharti Airtel     50                     348                  17,400
BOI                    300                   136                  40,800    

Mastek              200                   130                  26,000
L&T Infotech   50                      616                  30,800
Selan Exp         100                    190                  19,000
Cash                                                                      56,864

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Total                                                                    2,23,664

Key Points:

## Mastek Ltd is trading at a valuation equivalent to cash and investment (13% stake in Majesco). The company is focused on IT services now and should do well going forward as Mastek 4.0 matures and clients get results. Its U.S subsidiary Digility has started generating business and the co. is looking to acquire a small to mid sized IT service co. in U.S to reestablish its position in the worlds largest IT market.

## L&T Infotech is probably the cheapest mid sized IT service company in India and is trading at roughly 10 times FY-18 EPS

## Cairn India is replaced by Selan Exploration which is also in to oil production but is a much smaller player compared to cairn India. However the company is cash rich and worst of oil fall seems to be behind the company. With huge 2p reserves the company has potential to generate significant cash flow going forward.


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Update as on 02nd Sep 2016

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## Utilized sharp fall in Idea Cellular as the stock has now reached very attractive valuations. Bought 400 shares at 82 thereby making an investment of Rs. 32800

Stock                  Qty                    Avg. Price      Investment

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Idea Cellular     400                 82                     32,800 
Cairn                  50                   206.55              10,327
Bharti Airtel     50                     348                  17,400
BOI                    300                   136                  40,800    

Cash                                                                      1,21,237

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Total                                                                    2,22,564

Couple of points:

1. Market has panicked about Bharti And idea cellular while the major impact of JIO launch will be on Uninor, Videocon, Aircel & Rcom. Excluding Bharti, Idea and Vodafone there are 400 million connection which would get impacted first.

2. JIO is actually protecting ARPU and targatting 500 bucks a month from each user. If it happen it will be a god send opportunity for incumbent operators as their ARPUs also goes up. 

3. In 5 years time there will be at max 4 large players with all marginal players consolidated and a very strong industry with all the characteristics of an excellent business like consumption item, significant cash flow, very high entry barrier etc.

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Update as on 31st Aug 2016

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## Utilized sharp rally in Reliance Capital to book profits. Sold 30 shares at 535 thereby making a gain of Rs. 2250
## Cash Level increased by Rs. 16,050 taking total cash in portfolio to Rs. 1,54,037

Stock                  Qty                    Avg. Price      Investment

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Cairn                  50                   206.55              10,327
Bharti Airtel     50                     348                  17,400
BOI                    300                   136                  40,800    

Cash                                                                      1,54,037

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Total                                                                    2,22,564

Note: The portfolio is sitting on roughly 70% cash for the lack of any investing opportunity.

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Update as on 19th Aug 2016

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## Utilized sharp rally in Cairn India to re-balance the portfolio. Sold 300 shares at 212 thereby making a gain of Rs. 1635
## Cash Level increased by Rs. 63,600 taking total cash in portfolio to Rs. 1,37,987

Stock                  Qty                    Avg. Price      Investment

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Cairn                  50                   206.55              10,327

Bharti Airtel     50                     348                  17,400

R Capital           30                     460                  13,800
BOI                    300                   136                  40,800    
Cash                                                                      1,37,987

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Total                                                                    2,20,314

Note: Market is highly exuberant on the back of foreign liquidity which is making many stocks in the market very expensive. Staying 100% invested in this kind of market leaves no room for margin of safety and hence will wait for correction to dabble into stocks which we like as a business and are comfortable paying the price. Staying invested at current levels might give us a max of 10% return over next one year on index level but the risk on the downside is quite large in case something goes wrong globally or locally. 

In terms of local risk, the risk to inflation is slowly beginning to reemerge which will get exaggerated if crude moves to $60 by the end of this year. This is turn will put pressure on our currency which could depreciate to 70+ in a year's time as most of the world is facing deflation and U.S is having less than 2% inflation while we are having more than 6%. Earnings have been largely disappointing for 9th quarter in a row and is expected to stay weak in Q2 as well thereby pulling down the eps estimate once again for FY-2017. With all the good news being priced in the stock prices today, it doesn't make sense to buy the euphoria. As value investor it's always the other way round. We buy the fear and sell the greed. 

As on 19th Aug the model portfolio (at market price) has delivered over 115% of absolute return since 21st March 2013 (portfolio start date with Rs. 1 lakh capital) while Nifty has delivered 52% return since then. Since we have already outperformed the market significantly we will wait on the sidelines for sometime before market gives us an opportunity to utilize cash in our portfolio.

****************************

Update as on 14th July 2016

****************************

## Sold Exide 100 shares at 182 resulting in a loss of Rs. 300

## Sold Adani Ports 100 shares at 218 resulting in a gain of Rs. 3600 (Gain of around 20%)

## Cairn India went ex-dividend (Rs. 3 per share) in early July resulting in gain of Rs.1050

## Net Portfolio stands increased by Rs.4350 to Rs. 2,18,679

Stock                  Qty                    Avg. Price      Investment

----------------------------------------------------------------

Cairn                  350                   206.55            72,292

Bharti Airtel     50                     348                  17,400

R Capital           30                     460                  13,800
BOI                    300                   136                  40,800    
Cash                                                                      74,387

-----------------------------------------------------------------------

Total                                                                    2,18,679

****************************

Update as on 18th May 2016

****************************
## Sold JK Paper 200 shares at 52 realizing gains of Rs.3600 (53% profit in 14 months)
## Added 100 additional shares of BOI @ 84 thereby bringing down the avg cost to 136
## Added Adani Ports 100 shares at 182
## Net Portfolio stands increased by 3600 to Rs. 2,14,329

Stock                  Qty                    Avg. Price      Investment

----------------------------------------------------------------

Cairn                  350                   206.55            72,292

Bharti Airtel     50                     348                  17,400

R Capital           30                     460                  13,800
Exide                 100                    185                  18,500
BOI                    300                   136                  40,800    
Adani Ports      100                   182                   18,200 
Cash                                                                      33,337
-----------------------------------------------------------------------

Total                                                                    2,14,329

****************************

Update as on 21st April 2016

****************************

## Sold Hindalco 300 shares at 104 realizing gains of Rs.9000 (40%+ gain in 5 months)
## Cash position increased to Rs. 49537
## Net Portfolio stands increased by 9000 to Rs. 2,10,727

Net Portfolio as on 21st April 2016 stands as below:

Stock                  Qty                    Avg. Price      Investment

----------------------------------------------------------------

Cairn                  350                   206.55            72,292

Bharti Airtel     50                     348                  17,400

R Capital           30                     460                  13,800
Exide                 100                    185                  18,500
BOI                    200                   162                  32,400    
JK Paper           200                   34                      6,800 
Cash                                                                      49,537
-----------------------------------------------------------------------

Total                                                                    2,10,729

*******************************

Update as on 21st March 2016

*******************************

Model Portfolio 3rd Year Performance Review 

****************************

Update as on 12th Jan 2016

****************************

## Sold Sun Pharma 35 shares at 791 realizing gains of Rs.2590
## Bought bank of India 100 shares at Rs. 104 bringing the average cost of holding of 200 shares down to Rs. 162 
## Cash position increased to Rs. 18337

Net Portfolio as on 12th Jan 2016 stands as below:

Stock                  Qty                    Avg. Price      Investment

----------------------------------------------------------------

Cairn                  350                   206.55            72,292

Bharti Airtel     50                     348                  17,400

R Capital           30                     460                  13,800
Exide                 100                    185                  18,500
BOI                    200                   162                  32,400    
JK Paper           200                   34                      6,800 
Hindalco          300                   74                     22,200
Cash                                                                      18,337
-----------------------------------------------------------------------

Total                                                                    2,01,729

****************************

Update as on 23rd Nov 2015

****************************

## Bought Sun Pharma 35 shares at 717  worth ==> Rs. 25,095

## Bought Hindalco Industries 300 shares at 74 worth ==> Rs. 22,200

## Sold Reliance Capital 10 Shares at 410 worth ==> Rs.4,100 (Incurring a loss of Rs. 500)

Net Portfolio as on 23rd Nov 2015 stands as below:

Stock                  Qty                    Avg. Price      Investment

----------------------------------------------------------------

Cairn                  350                   206.55            72,292

Bharti Airtel     50                     348                  17,400

R Capital           30                     460                  13,800
Exide                 100                    185                  18,500
BOI                    100                    220                 22,000    
JK Paper           200                   34                      6,800 
Sun Pharma     35                      717                   25,095
Hindalco          300                   74                     22,200
Cash                                                                         1,052
-----------------------------------------------------------------------

Total                                                                    1,99,139

****************************

Update as on 19th Oct 2015

****************************

## Due to massive short covering and more than 35% appreciation in 2 weeks, Tata Motors is expected to stay sideways. Hence sold all the shares for the time being. Rcom is expected to report average set of numbers hence booking profit in that scrip as well.

## Sold Tata Motors 62 shares at 383 thereby generating a profit of around Rs.5000
## Sold Rcom 250 shares at 82 giving the portfolio a gain of 2500 bucks.

Net Portfolio as on 19th Oct stands as below:

Stock                  Qty                    Avg. Price      Investment

----------------------------------------------------------------

Cairn                  350                   206.55            72,292

Bharti Airtel     50                     348                  17,400

R Capital           40                     460                  18,400
Exide                 100                    185                  18,500
BOI                    100                    220                 22,000    
JK Paper           200                   34                    6,800 
Cash                                                                      44,247
-----------------------------------------------------------------------

Total                                                                    1,99,639

****************************

Update as on 24th Sep 2015

****************************

## Swift market correction and FII's relentless selling of companies doing badly in operational performance in-spite of highly compelling valuations has led to significant price damage in some of the stocks of our portfolio.

## Done a bit of reshuffling in the portfolio to adjust some concentration risk and also to utilize significant value emerging in Tata Motors.

## Sold 80 shares of Cairn India at Rs. 150 incurring a loss of Rs. 4524 (releasing Rs.12000 cash)

## Sold 50 Rcom at Rs. 64.5 incurring a loss of Rs. 375 (releasing Rs.3225 cash)

## Sold Reliance Capital 10 shares at 354 incurring a loss of Rs. 1060 (releasing Rs.3540 cash)

## Bought Tata Motors 62 shares at Rs. 303 with the cash released from above shares.

Net Portfolio as on 24th Sep stands as below:

Stock                  Qty                    Avg. Price      Investment

----------------------------------------------------------------

Cairn                  350                   206.55            72,292

Bharti Airtel     50                     348                  17,400

Rcom                 250                   72                    18,000
R Capital           40                     460                  18,400
Exide                 100                    185                  18,500
BOI                    100                    220                 22,000    
JK Paper           200                   34                      6,800 
Tata Motors        62                   302.65            18,765
-----------------------------------------------------------------------

Total                                                                    1,92,157

Note the portfolio is reduce to Rs 1,92,157 from Rs. 1,98,120 last reported due to cumulative losses (Rs. 5959) taken (as shown above) to accommodate Tata Motors in the portfolio.

****************************

Update as on 9th June 2015

****************************

## Sold ONGC 100 shares at 303 (at loss) to acquire additional 180 shares in Cairn India at 172 (for 30960) as the stock has become very attractive due to panic selling. Also not to over allocate to a particular sector, ONGC is being replaced with Cairn India.

## Net holding in Cairn India stands at 430 shares at avg price of 206.5

Net portfolio as on 9th June 2015:

Stock                  Qty                    Avg. Price      Investment

----------------------------------------------------------------

Cairn                  430                   206.55            88,820

Bharti Airtel     50                     348                  17,400

Rcom                 300                   72                    21,600
R Capital           50                     460                  23,000
Exide                 100                    185                  18,500
BOI                    100                    220                 22,000    
JK Paper           200                    34                     6,800 
-----------------------------------------------------------------------

Total                                                                    1,98,120

Note: The portfolio value at cash is reduced by 4700 bucks due to loss taken on ONGC for buying the Cairn India shares.

****************************

Update as on 25th May 2015

****************************

## Bought additional Cairn India 130 shares at 195 bringing down the average cost of holding for 250 shares to approx. Rs. 231.5. Cairn India has declared a dividend of 4 bucks per share to be ex-div on 8th July 2015.

## Net residual cash after the above purchase remains at 650 bucks.


****************************

Update as on 21st March 2015

****************************

Detailed Annual Performance Review of Model Portfolio Vs Nifty


****************************
Update as on 12th March 2015

****************************

Booking profits in NTPC & Tata Global and allocating some additional cash to stock.

## Sold NTPC 100 shares at 160 thereby booking gain of Rs.2000

## Sold Tata Global 100 shares at 160 thereby booking gain of Rs.500

## Bought ONGC  additional 50 shares at 308 ==>  Rs. 15400 (Avg cost of 100 shares now 350 bucks)

## Bought Bank of India 100 shares at 220 ==> Rs. 22000

## Bought JK Paper 200 shares @ 34 ==> Rs.6800

TOTAL PORTFOLIO at COST INCREASED by RS. 2500 TO RS. 2,02,820

Net portfolio as on 12th March 2015:

Stock                  Qty                    Avg. Price      Investment

----------------------------------------------------------------

Cairn                  120                    271                  32,520

ONGC                100                    350                 35,000

Bharti Airtel     50                     348                  17,400
Rcom                 300                   72                    21,600
R Capital           50                     460                  23,000
Exide                 100                    185                  18,500
BOI                    100                    220                 22,000    
JK Paper           200                    34                     6,800 
Cash                                                                      26,000

-----------------------------------------------------------------------

Total                                                                    2,02,820

*Note: The new scrips added in the portfolio above is highlighted in yellow shades.

****************************
Update as on 6th Feb 2015

****************************

Utilizing the opportunity to accumulate stocks that have come down sharply and trading at attractive valuations.

## Bought RCom 300 Shares @ 72 ==> Rs. 21600

## Sold Idea Cellular 100 shares @ 155 thereby booking gain of Rs.1500. (Basically the stock is replaced by Rcom as it is relatively more attractively priced and is least impacted by the upcoming auction.)

## Sold HCL Tech 20 shares at 1960 thereby booking gains of Rs. 9500 (massive gain of 32% in 1.5 months)

## Bought Reliance Capital 50 shares at 460 ==>  Rs. 23000

## Bought Exide Industries 100 shares at 185 ==> Rs. 18500

## Bought NTPC 100 shares @ 140 ==> Rs.14000

TOTAL PORTFOLIO at COST INCREASED by RS. 11000 TO RS. 2,00,320

Net portfolio as on 6th Feb 2015:

Stock                  Qty                    Avg. Price      Investment

----------------------------------------------------------------

Cairn                  120                    271                  32,520

Tata Global       100                    155                  15,500

ONGC                50                      392                 19,600
Bharti Airtel     50                     348                  17,400
Rcom                 300                   72                    21,600
R Capital           50                     460                  23,000
Exide                 100                    185                  18,500
NTPC                 100                    140                 14,000    
Cash                                                                      38,200

-----------------------------------------------------------------------

Total                                                                    2,00,320

Note: The new scrips added in the portfolio above is highlighted in yellow shades.

****************************
Update as on 15th Dec 2014

****************************

Market has witnessed 5% correction from the top and some stocks have been battered significantly. Utilizing this opportunity to nibble some quality names.

Bought Cairn India 60 shares at 240.5 ==> Rs.14,430 (averaging the cost of existing shares by half)
Bought Idea Cellular 100 shares at 140 ==> Rs. 14,000
Bought HCL Tech 20 shares at 1485 ==> Rs. 29,700
Bought Bharti Airtel 50 shares at 348 ==> Rs.17,400

Net portfolio as on 15th Dec 2014:

Stock                  Qty                    Avg. Price      Investment

----------------------------------------------------------------

Cairn                  120                    271                  32,520

Tata Global       100                    155                  15,500

ONGC                50                      392                 19,600
Idea Cellular     100                   140                  14,000
HCL tech            20                     1485               29,700
Bharti Airtel       50                     348                 17,400

Cash                                                                      60,600

-----------------------------------------------------------------------

Total                                                                    1,89,320

****************************
Update as on 18th Nov 2014

****************************

Profit booking in some of the stocks that witnessed sharp run-up in prices.

Sold Reliance Capital 60 shares at 521 resulting in gain of Rs.3600
Sold Rcom 200 shares at 113 resulting in gain of Rs.3400
Sold ITC 50 shares at 368 resulting in gain of Rs.1000
Sold Bank Of India 80 shares at 290 resulting in gain of Rs.4000
Sold NTPC 100 shares at 146 resulting in gain of Rs.1000
Bought ONGC 50 shares at 392 ==> Rs.19600

Net gain from portfolio selling shares = Rs.13000

Net portfolio as on 18th Nov 2014:

Stock                  Qty                    Avg. Price      Investment

----------------------------------------------------------------

Cairn                  60                       301.5             18,090

Tata Global       100                    155                  15,500

ONGC                50                      392                 19,600

Cash                                                                      136,310

-----------------------------------------------------------------------

Total                                                                    1,89,320

Note: Due to the market being overbought and global situation appearing a bit jittery, keeping a large portion of portfolio in cash (~70%) to be deployed on correction.

****************************
Update as on 14th Oct 2014

****************************

Utilizing sharp appreciation in some stocks of the portfolio.

Sold SAIL 400 at 77 resulting in gain of Rs.3600 (around 13% in 15 days)

Sold Spice Jet 1000 shares at 15.3 resulting in gain of Rs. 2500 (around 20% gain in 6 days)

Bought 50 ITC at 348 ==> Rs. 17400

Net portfolio as on 14th oct 2014:

Stock                  Qty                    Avg. Price      Investment

----------------------------------------------------------------

Cairn                  60                       301.5             18,090

Rel Capital        60                       461                27,600

Rcom                  200                    96                  19,200

Bank India         80                      250                20,000

NTPC                  100                    136                 13,600

Tata Global        100                    155                 15,500
ITC                      50                      348                17,400

Cash                                                                      44,930

-----------------------------------------------------------------------

Total                                                                    1,76,320

****************************
Update as on 7th Oct 2014

****************************

Utilizing further correction in select stocks in deploying residual cash in portfolio.

Bought 1000 shares of Spice Jet at 12.80 ==> Rs. 12800
Bought Cairn India 30 shares at 293 ==> Rs. 8790 (averaging the cost per share to 301.5)
Reliance Capital 20 shares at 443 ==> Rs. 8860 (averaging the cost per share to 461)

Net portfolio as on 7th oct 2014:

Stock                  Qty                    Avg. Price      Investment

----------------------------------------------------------------

SAIL                   400                    68                   27,200

Cairn                  60                       301.5              18,090

Rel Capital        60                       461                27,600

Rcom                  200                    96                  19,200

Bank India         80                      250                20,000

NTPC                  100                    136                 13,600

Tata Global        100                    155                 15,500
Spicejet              1000                  12.8                12,800

Cash                                                                      16,170

-----------------------------------------------------------------------

Total                                                                    1,70,220

****************************
Update as on 25th Sep 2014

****************************

Market presented excellent opportunity to buy some some stocks at attractive valuations. Following are the stocks which were added to the portfolio today.

SAIL 400 @ 68  ==> Rs. 27,200 

Cairn India 30 @ 310  ==> Rs. 9300

Reliance Capital 40 @ 470 ==> Rs. 18800

RCom 200 @ 96 ==> Rs. 19200

Bank Of India 80 @ 250 ==> 20000

NTPC 100 @ 136  ==> Rs.13,600

Net portfolio as on 25th Sep 2014:

Stock                  Qty                    Price               Investment

----------------------------------------------------------------

SAIL                   400                    68                   27,200

Cairn                  30                       310                 9,300

Rel Capital        40                       470                18,800

Rcom                  200                    96                  19,200

Bank India         80                      250                20,000

NTPC                  100                    136                 13,600

Tata Global        100                    155                 15,500

Cash                                                                      46,620

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Total                                                                    1,70,220

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Update as on 2nd Sep 2014

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Sold Cairn India 100 shares at 335 yielding a profit of Rs.2300
Sold M&M Fin 100 shares at 282 yielding a profit of Rs.4400

Bought Tata Global 100 shares @ 155 with an investment of Rs. 15500

So portfolio as on 2nd Sep stands as:

Tata Global 100 shares -> 15,500
Cash -> 1,08,520 (Cash as on 25th July) + 61,700 (Cash from selling above stocks) - 15,500 (Cash utilized in buying fresh stock)= Rs. 1,54,720

Total Portfolio value including Cash and stocks at cost = Rs.1,70,220

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Update as on 25th July 2014

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Utilizing the sharp fall in Cairn India and M&M Financial Services as they represent reasonable value at price points of 312 and 238 respectively

• Cairn India 100 @ 312 resulting in a investment of Rs. 31,200
• M&M Financial Services 100 @ 238 with an investment of Rs. 23800
• Cash -> Rs. 1,08,520

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Update as on 23rd July 2014

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Sold residual stocks (idea and IDFC) in the portfolio at profits leading to a 100% cash position to be deployed on weakness as and when it occurs.

• Idea Cellular sold 150 shares at 147 thereby generating profit of Rs. 450
• IDFC sold 100 shares at 160 thereby generating a profit of Rs. 2700

Total profits from the selling of above shares = Rs. 3,150

Updated Portfolio as on 23rd July 2014

Cash --> Rs. 1,63,520 (* Started this portfolio on 21st March 2013 with Rs. 1,00,000. Checkout the bottom of this page for datewise buy and sell in the portfolio).


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Update as on 5th June 2014

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Booking profits in stocks with good profits as the market is increasingly getting over stretched.

• PSB sold 300 shares at 80.50 thereby generating profit of Rs. 10,050 (Jackpot 71% return)
• M&M Fin sold 50 shares at 315 thereby generating a profit of Rs. 3450
• Dish TV sold 300 shares at 55 thereby generating a profit of Rs. 3000
• NTPC sold 100 shares at 164 thereby generating a profit of Rs. 4100
• Castrol sold 40 shares at 313 thereby generating a profit of Rs. 800
• Indian Hotels sold 150 shares at 95 thereby generating a profit of Rs. 3450

Total profits from the selling of above shares = Rs. 24,850

Updated Portfolio as on 5th June 2014

Idea Cellular 150 shares at 144  --> Rs. 21,600
IDFC 100 shares at 133  --> Rs. 13,300
Cash --> Rs. 1,25,470

Total Portfolio value at cost = Rs. 1,60,370 (Up > 60% since 21st March 2013)


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Update as on 13th May 2014

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With exit polls out and most of them pointing towards stable NDA govt at the center, picking on some stocks which could participate in the post poll rally and are at the same time trading at reasonable valuations so that in case something goes wrong in next couple of months there is no major dent in the prices of such stocks.

• Punjab Sind Bank (PSB) 300 @ 47 resulting in a investment of Rs. 14100
• M&M Financial Services 50 @ 246 with an investment of Rs. 12300
• Dish TV 300 @ 45 with an investment of Rs. 13500
• Castrol India 40 shares @ 293, invstmt = Rs. 11720
• Indian Hotels 150 shares @ 72, invstmnt = Rs. 10800
• Cash = Rs. 25,900

Updated portfolio as on 13th May 2014 is as follows:

Amit Agarwal's Model Portfolio ( As on 13th May 2014 )
Company	Qty	Purchase Price	Purchase Value
Idea Cellular	150	144	21,600
IDFC	100	133	13,300
PSB	300	47	14,100
M&Mfin	50	246	12,300
Dish TV	300	45	13,500
Indian Hotels	150	72	10,800
NTPC	100	123	12,300
Castrol	40	293	11,720
Cash			25,900
Total			135,520

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Update as on 27th March 2014

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Utilizing the sharp appreciation in market to encash some of the holdings of the portfolio:

Sold Bharti Airtel 30 shares @ 310 thereby generating a profit of Rs.750
Sold Union Bank 100 shares @ 122 thereby generating a profit of Rs.1200
Sold Dish TV 200 shares @ 52 thereby generating a profit of Rs.600
Sold Bajaj-Auto 8 shares at 2070 thereby generating a profit of Rs. 1320

As on 27th March 2014 day end the model portfolio had following stocks and cash:

Idea Cellular 150 @ 144  -> 21600
IDFC 100 @ 133               -> 13300
Cash = 52160 (Cash as on 21st march 2014) + 48460 (cash due to selling of above stocks)    
->  100620

Net portfolio value at cost   -> Rs. 135520

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Update as on 21st Mar 2014 (One year review)

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Update as on 6th Mar 2014

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Booking profits in some of the stocks in portfolio because of sharp run up in some of them.

Sold 40 Sobha Developers @ 324 thereby generating a profit of Rs.920
Sold 100 Exide Industries @ 117 thereby generating a profit of Rs.1550
Sold 30 Tata Chemicals @ 298 thereby generating a profit of Rs.600
Sold 40 ONGC @ 303 thereby generating a profit of Rs.1120

The net profit generated by selling the stock in the portfolio was Rs.4190. So the total portfolio value at cost goes to Rs. 131650

Also:

Bought 30 Bharti Airtel @ 285
Bought 100 Union Bank of India @ 110

Bought 200 Dish TV @ 49

So the portfolio as on 6th March stands as below:

Idea Cellular 150 @ 144  -> Rs. 21600
Bharti Airtel 30 @ 285  -> Rs. 8550
Union Bank 100 @ 110  -> Rs. 11000
Dish TV 200 @ 49  -> Rs. 9800
IDFC 100 @ 133  -> Rs. 13300
Bajaj Auto 8 @1905  -> Rs. 15240
Cash Rs. 52160
Total Portfolio at Cost  -> Rs. 131650

Note: We will review our portfolio on 21st March 2014 at market value to asses the performance of this model portfolio in 1 year.

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Update as on 10th Feb 2014

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Utilizing the opportunity of sharp correction in Idea Cellular. Hence

Bought 70 Idea Cellular at Rs.128 taking the total holding to 150 shares at avg cost of 144.

Amit Agarwal's Model Portfolio ( As on 10th Feb 2014 )
Company	Qty	Purchase Price	Purchase Value
Idea Cellular	150	144	21,600
Exide Industries	100	101.5	10,150
ONGC	40	275	11,000
Sobha Developers	40	301	12,040
Tata Chemicals	30	278	8,340
IDFC	100	133	13,300
Bajaj Auto	8	1905	15,240
Cash			35,790
Total			127,460

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Update as on 16th Jan 2014

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Booking gains in HDFC, Reliance and Allahabad Bank due to sharp run-up and replacing them with Exide and Idea Cellular.

• Sold 15 shares of HDFC at 856 leading to a profit of Rs.1110
• Sold 100 shares of allahabad bank at 96 leading to a profit of Rs.1000
• Sold 15 shares of Reliance Industries at 890 leading to a profit of Rs.750
• Bought 80 shares of Ideal Cellular at 158
• Bought 100 shares of Exide Industries at 101.50

Total Portfolio at cost went up by Rs.2860 to Rs.127,460 as on 16th Jan 2014. Including the freshly added Idea and Exide, the current portfolio stands as below:

Amit Agarwal's Model Portfolio ( As on 16th Jan 2014 )
Company	Qty	Purchase Price	Purchase Value
Idea Cellular	80	158	12,640
Exide Industries	100	101.5	10,150
ONGC	40	275	11,000
Sobha Developers	40	301	12,040
Tata Chemicals	30	278	8,340
IDFC	100	133	13,300
Bajaj Auto	8	1905	15,240
Cash			44,750
Total			127,460

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Update as on 30th Dec 2013

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Due to sudden appreciation in the Stock price of Apollo Hospitals and fall in the stock of Bajaj Auto, the former is being replaced by the later. Hence,

Sold 15 Apollo Hospitals at 957 thereby generating a profit of Rs. 2525
Bought 8 shares of Bajaj Auto at Rs. 1905

Due to the profits booked in Apollo Hospitals the net portfolio value at cost increased to Rs.1,24,600 from Rs. 1,22,575 since 17th Dec.

Amit Agarwal's Model Portfolio ( As on 30th Dec 2013 )
Company	Qty	Purchase Price	Purchase Value
Reliance Indusries	15	840	12,600
ONGC	40	275	11,000
HDFC	15	782	11,730
Sobha Developers	40	301	12,040
Allahabad Bank	100	86	8,600
Tata Chemicals	30	278	8,340
IDFC	100	133	13,300
Bajaj Auto	8	1905	15,240
Cash			31,750
Total			124,600

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Update as on 17th Dec 2013

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Markets went down consistently after making new high about a week back. Some stocks have become quite attractive at current levels and hence utilized some of the cash in the portfolio to buy following stocks. New stocks that were bought today are:

15 shares of HDFC at Rs. 782 -> 13230

40 shares of ONGC at 275 -> 11000

15 shares of Reliance Industries at 840 -> 12600

15 shares of Apollo Hospitals at 822 -> 12330

100 shares of Allahabad Bank at 86  -> 8500

40 shares of sobha developers at 301 -> 12040

Amit Agarwal's Model Portfolio ( As on 17th Dec 2013 )
Company	Qty	Purchase Price	Purchase Value
Reliance Indusries	15	840	12,600
ONGC	40	275	11,000
HDFC	15	782	11,730
Sobha Developers	40	301	12,040
Allahabad Bank	100	86	8,600
Apollo Hospitals	15	822	12,330
Tata Chemicals	30	278	8,340
IDFC	100	133	13,300
Cash			32,635
Total			122,575

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Update as on 4th Dec 2013

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JP Associates witnessed sharp rally and market being at the doorstep of major event sold off entire holding in JPA. Also sold Sobha developers holding in the portfolio.


# Sold JP Associates 350 shares at 55.50 thereby generating a profit of Rs.1540
# Sold Sobha Developers 30 shares at 336 thereby generating a profit of around Rs.600


As on 4th Dec 2013 the portfolio had only 2 stocks - IDFC and Tata Chemicals (Quantity and avg acquisition price unchanged from 1st Nov 2013)

Total Portfolio value = Rs. 1,22,575
Total Cash = Rs. 1,00,935
Total Stock worth (At purchase price) = Rs. 21,640


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Update as on 1st Nov 2013

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With Markets at new high booked profits in some of the stocks in portfolio. At these elevated levels we are keeping high proportion of cash in our portfolio.

Sold Allahabad Bank 300 at 95 thereby generating a profit of Rs.2790
Sold BPCL 20 at 360 thereby generating a profit of Rs.80
Sold Dish TV 200 at 54 thereby generating a profit of Rs.400

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Update as on 19th Sep 2013

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Utilizing the sharp rally in the market to book gains in Hindalco and lighten up position in Allahabad bank thereby preserving cash for future deployment. Rest of the stocks are intact and same as of 14th Aug 2013.

Sold Hindalco 150 shares @119 thereby generating a profit of Rs. 3795
Sold 50 Allahabad Bank @ 86.50 thereby generating a profit of Rs. 40

Cash Position as on 19th Sep -> 7030 (cash as on 14th Aug) + 17850 (Sold Hindalco) + 4325 (sold Allahabad bank) = Rs. 29205

Note: After today's transaction the total portfolio value at cost including cash stands at Rs.1,17,165

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Update as on 14th Aug 2013

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With better than expected result from Tata Steel the stock went up around 10% today. In short term significant gains have been made in the counter hence profit has been booked in that counter. 

Sold 50 Tata Steel at Rs.254 there by gaining Rs. 2500 on our investment.
Bought Dish TV 100 shares at Rs. 47 thereby bringing down the average cost to Rs. 52
Bought 10 Sobha Developers at Rs.277 thereby bringing down the average cost to Rs. 316
Cash as on 14th Aug 2013 at Rs. 7030

Amit Agarwal's Model Portfolio ( As on 14th Aug 2013 )
Company	Qty	Purchase Price	Purchase Value
Hindalco	150	93.7	14,055
IDFC	100	133	13,300
Allahabad Bank	300	85.7	25,710
BPCL	20	356	7,120
Sobha Developers	30	316.33	9,490
JP Associate	350	51.1	17,885
Dish TV	200	52	10,400
Tata Chemicals	30	278	8,340
Cash			7,030
Total			113,330

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Update as on 31st July 2013

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Currency movement has created panic in markets and some stocks have gone to mouth watering valuations. Things should correct itself in couple of months and hence fresh buying is done in some of the existing stocks in the portfolio with the remaining cash.

Bought 100 shares of Allahabad Bank at 67, bringing down the average cost of holding in portfolio to 85.70.

Bought 100 JP Associate at 36 bringing down the average cost of holding in the company to 51.1.

Bought 50 Hindalco Industries at 85 bringing the avg cost down to 93.70.

Bought 50 shares of Tata Steel at 204. (new script included in the portfolio)


Updated Portfolio and average prices as on 31st July 2013

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Update as on 16th July 2013

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Sold 200 shares of Crompton Greaves at 92 ( Rs. 1200 profit realized).
Bought 100 shares of Allahabad Bank at 87.5.
Bought 50 IDFC at 128.
Bought 20 Sobha Developers at 336.

Updated Portfolio and average prices as on 16th July 2013

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Update as on 24th June 2013
**************************

Bought 50 Allahabad Bank @ 97
Bought 100 Crompton Greaves @ 77 
Bought 100 JP Associates @ 53

Bought 100 Dish Tv  @ 58

Bought 30 Tata Chemical @ 278

Updated Portfolio and average prices as on 24th June 2013

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Update as on 20th June 2013
**************************

The swift fall in markets have again made some stock very attractive. Bought following shares on 20th June out of Rs 1,09,630 cash in the portfolio.

Residual cash of 63,110 will be utilized to average above companies on further fall. 

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Update as on 15th May 2013
**************************

Again on the back of continuous rally and to protect profits following changes were made to the portfolio.

Sold 75 shares Hindalco at 108 = 8100
Sold JSPL 30 shares at 314 = 9420
Sold Cairn Indian 30 share at 296 = 8880
Sold UCO bank 75 shares at 82 = 6150
Sold Ambuja Cements 50 shares at 186 = 9300
Sold BHEL 30 shares at 191 = 5730

So the Portfolio as on 15th May had only cash of around Rs 1,09,630 and no stocks. The reason for staying on such elevated levels of cash is primarily to pick up value stocks on downfall and protect the portfolio in case market witness swift correction. The strategy now would be to wait for correction as and when happens.

Overall the model portfolio has generated 9.63% return in 50 days time period.

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Update as on 25th April 2013
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Considering the swiftness of the upmove that occured in the month of April and specially to some of our stocks in the model portfolio, I have decided to churn the portfolio a bit in order to protect profits:

Follwoing are the trades that were executed as on 25th April 2013:

Sold Hindalco 75 shares @ 98    ---> an appreciation of 10.1 %                            
Sold Maruti Suzuki 10 shares @ 1590   ---> an appreciation of 21.5 %
Sold Reliance Infra 30 shares @380 ----> an appreciation of 12.5 %
Sold IDFC 75 shares @ 159 ---> an appreciation of 16 %
Sold BPCL 25 @ 415 ---> an appreciation of 13 %
Sold UCO Bank 75 shares @ 68  ---> an appreciation of 21.5 %

Total cash inflow from selling = 62,050

Hence the updated portfolio stands as below:

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21st March 2013
****************

With Rs 1,00,000 cash as on 21st March 2013 I would build a model portfolio of following stocks and weightage. The basic strategy behind selecting each stock is valuation and being contrarian. 

The portfolio will be reviewed for shuffling and performance at the end of every quarter and the stocks and their proportion in portfolio might change based on the outlook of individual scripts and overall market. This experiment is being conducted to test the value investing framework over a period of time.