What was that again?

‘In our country if we combine diesel, kerosene and LPG Rs1,90,000 crore is the amount of subsidy given. The budget of the entire rural development and drinking water ministries in comparison is Rs99,000 crore. What kind of a country is this?Taxes had to be imposed on sale of petrol so that development work could be carried out in the country. Where does the tax go? Where does the money come for NREGA? Where does the money come for Prime Minister’s Gramin Sadak Yojana? It comes from taxes,’  said rural development minister Jairam Ramesh


Coat Tailing Prashant Jain

In an earlier post, I had mentioned about coat tailing…wherein you follow a seasoned investor into a particular stock.

Prashant Jain of HDFC Mutual Fund is one of India’s best mutual fund managers.

In his recent letter to investors, he urges them to buy stocks NOW .

It would be interesting to see where he has put his own money to use.

He runs HDFC Equity fund with around 10000 Crore in assets.His top 10 holdings (as of April 30,2012) are as follows:

Company                               % to NAV

SBI                                         9.02%

ICICI Bank                              5.44%

ITC Ltd                                   5.35%

TATA Motors LTD DVR          5.29%

Infosys Ltd                              3.85%

Bharti Airtel                             3.34%

TCS                                        3.23%

ONGC                                     3.05%

TATA Steel Ltd                         3.01%

Bank of Baroda                        2.97%

He has a huge bias for banking stocks with 20% of his fund in them.

Also, interesting to note that cyclical sectors such as cement, sugar etc are completely missing from his portfolio

What is also interesting is the huge position in Tata Motors DVR.But thats another blog post !!