It has become a darling of the market, but made me grumble over my decision since Modi became our PM. I still stand by my words,that Q4'14 and Q1'15 results were cooked nice, and that is how the market behaves, always prefering tasty to healthy. Modi wave made a mockery of my calculations, and now Tech M is in 2400 odd levels, up 600 from my exit level. No hard feelings, as I found another Gem in the name of motherson sumi, entered @240. What a kill! The announcement of its entry into the F&O segment certainly made my day today. Up almost 10% intraday! Leaving behind the euphoria, the fundamentals are rock solid; A leading auto ancillaries producer with an average of 20-25% growth in eps every Q, which reflects the. That's almost 1.65*investment in FY'14!! The charts speak more, 45 degree NE movement indicating a strong funda. A guidance of 15-20% topline growth and 40% RoCE on FY'15 makes it more attractive!
FYI: TechM is still cheap purely based on valuation alone. You can go long on TechM till the Modi-wave subsides(Analysts speak of a multi-year Bull run :p) or the fair value of share price is met, whichever is earlier!
Less risky bet : TVS motor company(strong growth in sales)
behavioural bet : ICICI (approved stock split, with a ratio of 1:5)
There are some others blinking on my radar such as NOCIL, KNR constructions, NHPC.. Will write up later.
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