Stock Research

Munger-style · India + US · Updated 09-Apr-2026

📋 Decisions
Invested: ₹13.03L
Current: ₹12.81L
P&L: -₹22K India
US: $946.71 · -25.96%
Updated: 08-Apr-2026
Ticker Grade Qty Avg ₹ CMP ₹ Δ/share Invested Current P&L ₹ P&L % Action Target ₹ CMP / Ref Buy Zone Upside
Grade A — High Conviction (20–25/25)
ICICIAMC
ICICI Pru AMC Fair
A · 20/25 6 ₹2,165 ₹3,124 +₹959 ₹12.99K ₹18.74K +₹5,754 +44.3% Add <₹2,400 ₹3,520 ₹2,037 1.2x
Grade B · 19/25 — Largest Position
GROWW
Billionbrains Garage Fair
B · 19/25 500 ₹159.91 ₹181 +₹21.09 ₹79.95K ₹90.5K +₹10,545 +13.2% Hold · 7% of PF ₹192 ₹111 2.5x
Grade B · 18/25 — High Quality
KERNEX
Kernex Microsystems Undervalued
B · 18/25 90 ₹1,125 ₹1,138 +₹13 ₹1.01L ₹1.02L +₹1,170 +1.2% Hold · add only <₹750 ₹1,444 ₹836 2.7x
NEWGEN
Newgen Software Undervalued
B · 18/25 200 ₹447.79 ₹463 +₹15 ₹89.56K ₹92.6K +₹3,044 +3.4% Hold · Add <₹430 ₹965 ₹484 ₹430 2.0x
Grade B · 17/25
KAYNES
Kaynes Technology Undervalued
B · 17/25 31 ₹3,967 ₹3,914 -₹9 ₹1.22L ₹1.21L -₹277 -0.2% Avg ₹3,200 if promoter clears ₹5,400 ₹3,125 1.5x
EPACKPEB
EPACK Prefab Deep Value
B · 17/25 751 ₹195.06 ₹175 -₹20.06 ₹1.46L ₹1.31L -₹15,065 -10.3% ADD <₹155 · add zone ₹800 ₹463 5x+
ANANTRAJ
Anant Raj Ltd Undervalued
B · 17/25 200 ₹460.80 ₹485 +₹24 ₹92.16K ₹97.0K +₹4,840 +5.3% Hold ₹660 ₹382
Grade B · 16/25
SHAKTIPUMP
Shakti Pumps Undervalued
B · 16/25 200 ₹518.95 ₹520 +₹1 ₹1.04L ₹1.04L +₹210 +0.2% Hold ₹720 ₹417
BANCOINDIA
Banco Products Fair
B · 16/25 100 ₹589.50 ₹574 -₹16 ₹58.95K ₹57.4K -₹1,550 -2.6% Avg below ₹530 ₹701 ₹406 1.3x
SAKSOFT
Saksoft Ltd Deep Value
B · 16/25 450 ₹129.41 ₹138 +₹8.59 ₹58.23K ₹62.1K +₹3,865 +6.6% Add below ₹115 ₹320 ₹185
ARTEMISMED
Artemis Medicare Fair
B · 16/25 181 ₹245.86 ₹231 -₹14.85 ₹44.50K ₹41.8K -₹2,688 -6.0% Hold · trim to 2% ₹279 ₹161 1.2x
NAVA
Nava Limited Undervalued
B · 16/25 56 ₹461.65 ₹580 +₹118 ₹25.85K ₹32.5K +₹6,628 +25.6% Hold ₹838 ₹485 1.7x
RAYMOND
Raymond Ltd (Engineering) Undervalued
B · 16/25 150 ₹368.75 ₹369 +₹0.25 ₹55.31K ₹55.35K +₹37 +0.1% Hold · ADD <₹350 ₹493 ₹285 1.4x
Grade B · 15/25
RSYSTEMS
R Systems Intl Undervalued
B · 15/25 350 ₹286.50 ₹285 -₹1.50 ₹1.00L ₹99.75K -₹525 -0.5% ADD — at add zone · 4.4% div ₹408 ₹236
ETERNAL
Eternal Ltd (Zomato) Rich
B · 15/25 98 ₹337.35 ₹244 -₹93.35 ₹33.06K ₹23.91K -₹9,149 -27.7% Hold — Q4 review ₹218 ₹126 2.4x
Grade B — Unscored Holdings
SHILCTECH
Shilchar Technologies Rich
B 6 ₹4,559.69 ₹4,295 -₹265 ₹27.36K ₹25.77K -₹1,588 -5.8% Hold ₹3,596 ₹2,081 1.0x
Grade C — Exit / Reduce (Action Required)
PARADEEP
Paradeep Phosphates Sold
C · 11/25 0 ₹175.85 ₹111.41 -₹64.44 ₹38.69K ₹24.51K -₹14,180 -36.66% EXIT NOW — market price EXIT EXIT
SWIGGY
Swiggy Undervalued
C · 10/25 49 ₹565.23 ₹278 -₹287 ₹27.70K ₹13.62K -₹14,074 -50.8% Weak Hold — Q4 ₹385 ₹223 4.5x
STLNETWORK
STL Networks Ltd Undervalued
C · 12/25 1,500 ₹31.22 ₹19.3 -₹11.92 ₹46.83K ₹28.95K -₹17,880 -38.2% Weak Hold — 2 qtrs ₹30 ₹17 1.6x
US Portfolio — Live (INDmoney/Alpaca) · $946.71 current · -$332 (-25.96%)
NVDA
Nvidia Corp
A · 22/25 1 $193.50 $183.12 -$10.38 $193.50 $183.12 -$10.38 -5.36% Hold $1,210 $700
AMD
Advanced Micro Devices
B- · 16/25 1 $232.89 $197.75 -$35.14 $232.89 $197.75 -$35.14 -15.09% Hold
QQQM
Invesco Nasdaq-100 ETF
ETF 0.53 $254.29 $245.96 -$8.33 $135.23 $130.82 -$4.41 -3.28% Hold
MP
MP Materials Corp
2 $71.63 $60.05 -$11.58 $143.26 $120.10 -$23.16 -16.17% Rare earth
RKLB
Rocket Lab USA
1 $67.94 $68.39 +$0.45 $67.94 $68.39 +$0.45 +0.66% Space / Launch
RGTI
Rigetti Computing
Speculative 7 $36.20 $16.08 -$20.12 $253.40 $112.56 -$140.84 -55.58% Quantum · Speculative
OKLO
Oklo Inc
Speculative 1 $133.60 $59.56 -$74.04 $133.60 $59.56 -$74.04 -55.42% Nuclear SMR · Speculative
ACHR
Archer Aviation
Speculative 4 $12.10 $6.16 -$5.94 $48.40 $24.64 -$23.76 -49.09% Air taxi · Speculative
CRSP
CRISPR Therapeutics
1 $69.00 $48.92 -$20.08 $69.00 $48.92 -$20.08 -29.10% Gene editing
IREN
IREN Ltd
0.02 $72.95 $41.41 -$31.54 $1.49 $0.85 -$0.64 -43.24% BTC mining / AI
Owned — Notable Positions (no formal thesis yet)
NWIL
Nurture Well Industries (IIL sub)
165 ₹27.96 ₹41.94 +₹13.98 ₹4.61K ₹6.92K +₹2,310 +49.89% Hold · best % gainer
Tracking — 1 Share · Price Monitor Only (buy more when ready)
KPITTECH
KPIT Technologies
1 ₹1,156.30 ₹660.15 -₹496.15 ₹1,156 ₹660 -₹496 -42.91% Monitor
BRIGADE
Brigade Enterprises
1 ₹1,038 ₹653.70 -₹384.30 ₹1,038 ₹654 -₹384 -37.02% Monitor · Real estate
FABTECH
Fabtech Technologies
1 ₹225 ₹141.50 -₹83.50 ₹225 ₹142 -₹84 -37.11% Monitor
NIPPOBATRY
Indo-National
1 ₹446.05 ₹292.35 -₹153.70 ₹446 ₹292 -₹154 -34.46% Monitor
TTKHLTCARE
TTK Healthcare
1 ₹1,196 ₹827.70 -₹368.30 ₹1,196 ₹828 -₹368 -30.79% Monitor · Healthcare
SAGILITY
Sagility Ltd
2 ₹53.40 ₹37.83 -₹15.57 ₹107 ₹76 -₹31 -29.16% Monitor · Healthcare IT
NESCO
Nesco Ltd Undervalued
B+ 19/25 1 ₹1,376.50 ₹1,021.10 -₹355.40 ₹1,377 ₹1,021 -₹355 -25.78% Monitor · Exhibition+IT 1.7x
URBANCO
Urban Company
1 ₹142.80 ₹110.13 -₹32.67 ₹143 ₹110 -₹33 -22.88% Monitor
POLICYBZR
PB Fintech
1 ₹1,800.90 ₹1,446.10 -₹354.80 ₹1,801 ₹1,446 -₹355 -19.71% Monitor · Insurtech
IZMO
IZMO Ltd
1 ₹872 ₹700.95 -₹171.05 ₹872 ₹701 -₹171 -19.62% Monitor · Auto tech
NDTV
New Delhi Television
1 ₹94.85 ₹76.43 -₹18.42 ₹95 ₹76 -₹18 -19.42% Monitor · Adani media
CGCL
Capri Global Capital
1 ₹209.08 ₹170.09 -₹38.99 ₹209 ₹170 -₹39 -18.65% Monitor · NBFC
VSTIND
VST Industries
1 ₹264 ₹215.37 -₹48.63 ₹264 ₹215 -₹49 -18.42% Monitor · Tobacco
GRSE
Garden Reach Shipbuilders Fair
B · 17/25 26 ₹2,267 ₹2,479 +₹212 ₹58.95K ₹64.45K +₹5,501 +9.3% Hold · add at ₹1,800–2,000 ₹2,459 ₹1,800 1.1x
NETWEB
Netweb Technologies
1 ₹3,883.10 ₹3,181.90 -₹701.20 ₹3,883 ₹3,182 -₹701 -18.21% Monitor · HPC servers
ZENTEC
Zen Technologies
1 ₹1,479.20 ₹1,364.70 -₹114.50 ₹1,479 ₹1,365 -₹115 -7.74% Monitor · Defence training
PATELSAI
Patels Airtemp
1 ₹265 ₹227.55 -₹37.45 ₹265 ₹228 -₹37 -14.13% Monitor · Heat exchangers
SATIN
Satin Creditcare
1 ₹162.99 ₹144.04 -₹18.95 ₹163 ₹144 -₹19 -11.63% Monitor · Microfinance
BHEL
Bharat Heavy Electricals
1 ₹254 ₹258.50 +₹4.50 ₹254 ₹259 +₹5 +1.77% Monitor · Power capex
ATHERENERG
Ather Energy
1 ₹665.05 ₹705 +₹39.95 ₹665 ₹705 +₹40 +6.01% Monitor · EV 2W
DREDGECORP
Dredging Corp of India
1 ₹898.45 ₹882.30 -₹16.15 ₹898 ₹882 -₹16 -1.80% Monitor · Port infra
SOUTHWEST
SW Pinnacle Exploration
1 ₹172.38 ₹193.06 +₹20.68 ₹172 ₹193 +₹21 +12.00% Monitor · Mining
Scenario Planning & Watchlist
IEX
Indian Energy Exchange Fairly Valued
B · 18/25 Watch · Buy <₹120 ₹194 ₹126 ₹115 ~1.5x
REDINGTON
Redington Ltd Fairly Valued
C · 10/25 Watch · Buy <₹180 ₹214 ₹229 ₹180 ~1x
KALYANICASTTECH
Kalyani Cast-Tech Expensive
B- · 15/25 Watch · Buy <₹450 ₹1,007 ₹642 ₹400 ~1x
TRANSWORLD
Transworld Shipping Avoid
D · 8/25 Avoid ₹159
PGEL
PG Electroplast Expensive
B– 16/25 Watch · Buy <₹460 ₹610 ₹353 ₹460 ~2x
SUZLON
Suzlon Energy Fair
B 17/25 Watch · Buy <₹36 ₹49 ₹34 ₹36 ~2.3x
GRSE
Garden Reach Shipbuilders Fair
B 17/25 Watch · Buy <₹2,000 ₹2,650 ₹1,800 ₹2,000 ~1.8x
BOSCHLTD
Bosch Limited Fair
A– 19/25 Watch · Buy <₹26k ₹28,000 ₹24,000 ₹26,000 ~1.2x
PATELSAIR
Patels Airtemp Undervalued
C+ 13/25 Watch · Q4 result trigger ₹444 ₹219 ₹250 ~2x
DREDGECORP
Dredging Corp of India Overvalued
D 11/25 Watch · Wait ₹480-550 ₹620 ₹480 ₹550 ~1.2x
THRIVE
Thrive Future Habitats Speculative
C– 10/25 Watch · 0.5% max ₹90
IRAN WAR v2
Iran War Analysis — Apr 4, 2026 · Oil · INR · Nifty · Scenarios
Macro Geopolitical Analysis
MKT NOTE
Market Note — Mar 2026 · Nifty + HDFC Bank
Note Market Analysis
HDFCBANK
HDFC Bank Ltd Deep Value
Research Watch · Thesis needed
DCMSIL
DCM Shriram International Undervalued
C+ · 13/25 Watch · Buy <₹55 ₹124 ₹65 ₹50–55 ~2x
SWANDEF
Swan Defence & Heavy Ind Overvalued
D · 9/25 Watch only · No buy ₹600–800 ₹1,789
STLTECH
Sterlite Technologies Ltd
C · 11/25 Watch · Not owned
GOOGL
Alphabet Inc — Research
A · 23/25 Research · Watchlist $484 $280
AMZN
Amazon.com — Research
A · 21/25 Research · Watchlist $290 $168
MSFT
Microsoft Corp
A · 20/25 BUY $340–370 $555 $340 2.1x
GRAB
Grab Holdings (SEA Superapp)
B · 18/25 OUTPERFORM $6.75 $3.50 ~2x
LIFE
Ethos Technologies (InsurTech)
B · 17/25 BUY $10–13 $37 $10 3.1x
NIFTY 20K
Scenario Buy List
Scenario ~₹85K plan Deploy at 20K
ANTELOPUS
Antelopus Selan Energy Fairly Valued
C · 14/25 Watch · Buy <₹450 ₹640 ₹570 ₹450 ~2x
JUSTDIAL
Just Dial Deep Value
B · 17/25 BUY ₹526 ₹963 ₹557 2.2x
INTEGRATEDIND
Integrated Industries
C+ · 13/25 Verify AR first ₹55 ₹32
WATCHLIST
Mar 2026 · 39 stocks
Screen Full screen
CONCENTRATE
Portfolio Strategy
Strategy Action Plan
OVERVIEW
Portfolio Summary
Summary ₹15.21L invested · ₹13.84L current · 41 positions ₹13.84L -₹1.37L -8.98% Reference
VALUATION
DCF + P/B-ROE Framework
MethodologyReference
NUCLEAR
India Nuclear Power Sector Thesis
Sector Sector Thesis
KCP
KCP Limited
C Watch
LOSERS
Portfolio Losers Analysis
Analysis Reference
GROWW vs ICICI
Broker Comparison
Comparison Reference
ITC
ITC Limited Fair
B · 19/25 Watch · Buy <₹270 ₹384 ₹293 ₹270 ~1.4x
NILE
Nile Limited Avoid
C · 10/25 Avoid · Customer concentration ₹1,760 ₹1,525 ~1.15x
DECISION LOG
Portfolio decisions & takeaways — date-wise
Log Running log
NIFTY 50
Valuation Dashboard — PE/PB Band Framework
Macro Reference PE 21x 23,775
MACRO NOTES
Rolling Macro Tracker
Macro Reference
W11 JOURNAL
Weekly Review Mar 9–15
Journal Review
MVGJL
Vaibhav Jewellers — AP/TG Regional Fairly Valued
C · 11/25 Avoid · OCF negative ₹326 ₹178 ₹150 ~2x
KAMAYAKA
Value Investing Webinar — Nita (Kamayaka Research)
Learning Learnings & Framework
TOTAL PORTFOLIO ₹15.21L India
+~₹1.07L US ($1,280)
₹13.84L India
+~₹79.5K US ($947)
-₹1.37L India
-~₹27.9K US
-8.98%
-25.96% US
India live 18:35 IST
US live INDmoney
Grade A — High Conviction
Grade B — Core Holdings
GROWWB · 19/25
Billionbrains Garage
Qty · Avg2,298 · ₹153.79
CMP₹155.79
P&L+₹4,690 (+1.3%)
MTF + AMC optionality · P/E 56x · 23% of portfolio
KERNEXB · 18/25
Kernex Microsystems
Qty · Avg90 · ₹1,125
CMP₹982
P&L-₹12,880 (-12.7%)
Kavach · ₹3,268Cr order book · Hold
NEWGENB · 18/25
Newgen Software
Qty · Avg200 · ₹447.79
CMP₹441.90
P&L-₹1,180 (-1.3%)
Add <₹400
Low-code BPM · ROE 22% · -52% from peak
KAYNESB · 17/25
Kaynes Technology
Qty · Avg31 · ₹3,967
CMP₹3,484
P&L-₹15,240 (-12.4%)
IoT EMS · OSAT optionality · Watch promoter
EPACKPEBB · 17/25
EPACK Prefab
Qty · Avg451 · ₹227.90
CMP₹156.03
P&L-₹32,410 (-31.5%)
Prefab construction · PLI beneficiary · Q4 key
ANANTRAJB · 17/25
Anant Raj Ltd
Qty · Avg200 · ₹460.80
CMP₹450
P&L-₹2,160 (-2.3%)
NCR real estate + data centers · D/E 0.09x
SHAKTIPUMPB · 16/25
Shakti Pumps
Qty · Avg200 · ₹518.95
CMP₹500.20
P&L-₹3,610 (-3.5%)
PM-KUSUM solar pumps · ROCE 55%
BANCOINDIAB · 16/25
Banco Products
Qty · Avg100 · ₹589.50
CMP₹549.90
P&L-₹3,960 (-6.7%)
Gaskets + cooling · High dividend
SAKSOFTB · 16/25
Saksoft Ltd
Qty · Avg450 · ₹129.41
CMP₹127.67
P&L-₹787 (-1.4%)
Add <₹115
Undiscovered compounder · P/E 13.3x · 20% CAGR
ARTEMISMEDB · 16/25
Artemis Medicare
Qty · Avg181 · ₹245.86
CMP₹225.31
P&L-₹3,720 (-8.4%)
Hospital chain · NCR expansion
NAVAB · 16/25
Nava Limited
Qty · Avg56 · ₹461.65
CMP₹551.79
P&L+₹5,040 (+19.5%)
Zambia mining + India power · Best performer
RSYSTEMSB · 15/25
R Systems International
Qty · Avg350 · ₹286.50
CMP₹267
P&L-₹6,860 (-6.8%)
AI/analytics IT · P/E 16.7x · 4.34% dividend
ETERNALB · 15/25
Eternal Ltd (Zomato)
Qty · Avg100 · ₹337.35
CMP₹215.70
P&L-₹12,170 (-36.1%)
Blinkit thesis · P/E 884x · Q4 review
SHILCTECHB
Shilchar Technologies
Qty · Avg6 · ₹4,560
CMP₹3,727
P&L-₹5,000 (-18.3%)
Distribution transformers · Power infra
Grade C — Exit / Reduce
Scenario & Watchlist
Portfolio Analytics

Expected CAGR — Thesis-Based Estimates

Base-case price targets and horizons from research notes, mapped to annualised CAGR. Not a prediction — these are the returns implied by the thesis if it plays out. CAGR = (Target / CMP)1/years − 1.

Stock Grade PF Weight CMP Base Target Horizon Exp. CAGR Wtd Contrib. Thesis note
Grade A
ICICIAMC A·20 1.2% ₹2,880 ₹3,800 3yr +9.7% +0.12% AMC structural: 25-30% profit CAGR. At 50x P/E on FY29E.
Grade B — Core Holdings
GROWW B·19 25.9% ₹156 ₹192 2yr +11.0% +2.85% P/E 40x on FY27E ₹3,000 Cr profit. Biggest weight = biggest impact.
KERNEX B·18 6.4% ₹982 ₹1,500 3yr +15.2% +0.97% Kavach rollout. Needs order wins to materialise.
NEWGEN B·18 6.4% ₹442 ₹620 2yr +18.4% +1.18% Low-code BPM, 22% ROE, -52% from peak = mean reversion opportunity.
KAYNES B·17 7.8% ₹3,484 ₹5,500 3yr +16.4% +1.28% EMS+OSAT theme. Conditional on promoter selling concern resolving.
EPACKPEB B·17 5.1% ₹156 ₹260 2yr +29.1% +1.48% Prefab housing theme. HIGH UNCERTAINTY — Q4 FY26 must show recovery.
ANANTRAJ B·17 6.4% ₹408 ₹580 2yr +19.2% +1.23% NCR real estate + data centres. Land bank monetisation cycle.
SHAKTIPUMP B·16 6.8% ₹450 ₹650 2yr +20.2% +1.37% PM-KUSUM solar pump scheme. Government policy dependent.
SAKSOFT B·16 3.9% ₹128 ₹200 2yr +24.9% +0.97% Undiscovered small-cap compounder. PEG 0.58. Low float = illiquid.
RSYSTEMS B·15 6.6% ₹285 ₹370 2yr +13.9% +0.92% IT services, 4.3% dividend yield. Steady compounder.
BANCOINDIA B 3.9% ₹530 ₹680 2yr +13.2% +0.52% Auto ancillary. High dividend. Volume recovery tied to auto cycle.
ARTEMISMED B·16 3.0% ₹240 ₹340 2yr +19.0% +0.57% Healthcare NCR. Bed expansion + occupancy improvement thesis.
ETERNAL (Zomato) B·15 2.2% ₹216 ₹280 2yr +13.9% +0.31% Path to profitability. Q4 FY26 is the key checkpoint.
Grade C — Exit candidates (drag on portfolio)
PARADEEP C·11 1.8% ₹90 ₹115 2yr +13.0% +0.23% Exit on any bounce to ₹115. D/E 5.3x. Exit target = entry cost recovery.
SWIGGY C·10 1.8% ₹282 ₹300 2yr +3.1% +0.06% Weak hold only. Loss-making. Capital destruction risk if raise needed.
STLNETWORK C·12 2.1% ₹18.55 ₹22 2yr +8.9% +0.19% STL Networks Ltd. Watch 2 quarters before exit decision.
Portfolio Weighted CAGR India portfolio ~13.5% Σ weighted contributions
Portfolio Carriers (top contributors)
GROWW · 25.9% wt × 11% = +2.85% to portfolio CAGR
EPACKPEB · 5.1% wt × 29% = +1.48%
KAYNES · 7.8% wt × 16% = +1.28%
SHAKTIPUMP · 6.8% wt × 20% = +1.37%
NEWGEN · 6.4% wt × 18% = +1.18%
Portfolio Drag (low-return weight)
GROWW concentration — 26% weight but only 11% CAGR. If trimmed to 15% and deployed to ICICIAMC + SAKSOFT, portfolio CAGR lifts ~1.5%.
Grade C stocks — 5.7% of portfolio dragging overall with near-zero expected CAGR.
ICICIAMC under-weight — only 1.2% in the highest-quality stock.
Key insight: The portfolio's expected CAGR is ~13-14% — decent but not exceptional for the concentration and risk taken. The drag comes from (1) GROWW being 26% of portfolio at moderate expected return, and (2) Grade C positions adding no return while tying up capital. Reallocating Grade C exits + trimming GROWW above ₹190 → ICICIAMC/SAKSOFT could push portfolio CAGR toward 16-18%. These are base-case estimates only — actual XIRR will depend on timing of exits and new entries.
CAGR = (Base Target / CMP)1/Horizon − 1 · Targets from thesis notes · Not investment advice · 2026-03-13