Gaurav Narain, co-head of equities at Ocean Dial Asset Management, has started buying more "high growth" companies as he believes the macroeconomic circumstances in India are favourable.
Narain runs the £119m India Capital Growth fund, investing primarily in small and mid-cap stocks. The portfolio is centred around "long-term compounding stories", according to Narain, investing in businesses that can sustain a 15-20% earnings growth. Companies such as, PI Industries, an agrochemical company is an example of these "consistent compounders" within the portfolio, Narain said. "When I entered the company nine years back it was a $300m market cap company. Since then it has given me over 13-fold returns." But now, Narain is turning his fund in a new direction, looking tow...
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