Which stock would you monitor to buy on dips or sell if it goes up by 10%? Everybody has some stocks in the portfolio where you have fair value targets in mind to buy and overvalue to sell?
I think commodities. If there is a fall in commodities, I will go back and buy it again because it is a longer cycle. It will last for at least seven to 10 years, mostly a deleveraged nature of the stock and it is both local and global that we are buying commodities. So if there is a big correction, commodities is definitely first on my radar that we would definitely buy.
Second, if there is a big correction on multiplex, it is a standing order to buy the shares because that is a unique monopoly and we will never see it again. For a change, south has done wonders. The Indian film industry has now gone to the wayside compared to the south. Who expected the south to give the momentum? So a big story is coming up and we have got large stories, pictures coming up in the global market as well as Indian markets this year. It is a full pipeline.
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One cannot have a better industry than that in terms of multiplex. We are very clear that after commodities, we will go into multiplex; if there is a large correction in QSRs, we will definitely buy that and lastly if there is a big correction in Investment Trusts we will definitely go buy more of that stock.
So four clear categories of buying at this point of time. And the last bunch is if sugar corrects more, I will definitely be the first person to get in. So these are four, five sectors but they are all sticking to the same theme — at the end of day, these will be companies which are monopoly, which are cash flow driven and which have got a clear path for demand. That is a common theme across what we will intend to buy if there is a correction at the end of day which is monopoly, which is cash flow driven and which have got a clear path for demand. That is a common theme across what we will intend to buy if there is a correction.
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