I made a cloud word of our partnership today. You really emphasize three words – age, retirement, mature businesses. I don’t know why, just a conjunction.
Ajay Srivastava: Oh, yes, because I told you, we would never want to invest in cement and iron, that’s why the cement, we didn’t mean to invest it.
You don’t have to have an investment in the portfolio of any so-called cement or steel in our view. They are not industrial growth industries. It doesn’t take Genius to put a keel and start making cement. Anyone can do this literal talk. I don’t say buy, stock is like a ZomatoYou can’t make an infrastructure like Swangy In the evening, it takes innovation and you need to continue to change companies.
Engineering companies, making some odd jobs in Terms of Turbine, Blades, etc., that all could not go and it could be tomorrow morning.
Mao nga, ang pagkalainlain kung nagdako kami, ang among paradigma mao ang asset building, steel, semento, ug ang mga dili maayo nga prospect, dili sila ang mga stock, dili sila ang mga stock, dili kini ang mga stock alang kanimo, dili kana ang umaabot.
The future is located somewhere and therefore, I say, with age, people with cement and seals are retiring to what’s your own.
You have purchased Vedanta in the past. I thought you were also selling and from oil shopping companies. What happened to this whole division theory because we mentioned couples who have passed on for companies with high divide divisions, such as a Clal IndiaVesanta. Are you another bottle of buying high division of theory theory in stock?
Ajay Srivastava: I’m still in vedanta. For many years I held and I kept holding it because dividing itself makes equity zero at this time and I don’t believe you can Mines You can’t go and open another mine all night, you need 10 years to activate a mine. Yes, prices go, climb up, and so on, and so on, but returns are perfectly awesome. And beauty is not only justifications, if you look at the reports that India has, a private sector, the price of age 15, this year is given year of year.
So, dividend yielding stocks, reit equivalents have given phenomenal return through thick and thin and they are great investment as you take away the volatility and whether you like it or not once you have it, price may be up and down but you do not Need to buy a new mine every morning unlike plants and innovation and so on and so forth.
So, yes, I keep dividend stocks. They have done good, and I will continue to keep it because it is a good income and these people will make us prospective in 25, 40 years, they will make a guaranteed way. It can go, but the cash flow is guaranteed for 30 years, 40 years. Show me a business like that and I love to buy it again.
India India is still a business. Show me a business, I mean 5% giving the division. Mines, which cannot be replicated.
Ajay Srivastava: PSU. Yes, PSU, the problem is PSU. As I continued to speak regularly, as a consumer I would go to the bank with the national bank, I don’t think most of us do.
Do, I go to buy a product of PSU, most of us don’t do it, good. There is a different niche for defense, leave it in a minute, that is a monopoly. But actually talking, you have a BSNL connection, I don’t think I have something right. So, no one I know with a BSNL connection.
So, investing in the main investment in a PSU is the confidence that the government can give you an additional shareholder amount if the government does not know how to run a business. It should not run into a business at the end of the day.
And therefore, it is not important. Is in a department. See oil marketing companies. What happened to them? They are no longer companies. They are departments. They do not change the price. The oil can go down for $ 20. They don’t change the price. Government will come and make progress and take it back.
So, in real saying, if you ask me, the Commodity companies of the PSU companies are not companies, they have raised government departments and you do not want to invest in government departments at the end of the day. If they are free to float companies and they can price how they want, our OMCS is valuable.
See their book price, it’s 1 or 1.2 and the assets they do is strange. The patrol pump, the amount of real estate, the refineries, and others who privatize it, they will quote five to six times what they are quoting today. But the departments, what’s your shareholder goes out of it? You can’t.
If the company does not increase the price or reduce the price when needing the need, how can you make money? So, I’m the PSU tag that is a problem and I’m off most of the time.
I think you want to believe I am the defense pack and later, we see defense companies well. There is also a lot of this technology upgrade taking place and recently with the tensions of the entire border we’ve seen today the drones is the way to go. Give us some sense of how you look at the growth of sight for defense counters.
Ajay Srivastava: I think it’s good, it’s definitely good because government allocation also goes up. The defense should go on what happened to the boundaries of us. This is good for Indian companies. Once again, they are not cheap companies.
All are pes of 80, 90, and 100 at this time. But they have a path to catch. They may catch three to four years period. You may be guilty of investing today and repent of a year’s time. But they actually have a good future.
Now things drone keeps in this industry, I have, even on my desk, I can tell you 100 prospectuses that lie to companies that make drones.
So, I’m not sure who’s going to be winner or defeated, but I’m sure I can say that the existing market defense companies and that’s the place. But when I said, many new players entered, above with a global competition.
We are not the best global in the terms of the product at this time. So, locally, yes, we can buy. So, I’m angry to say only one that hoopla comes before you do your money and so take care of what cash finishes.
Many companies are good, but the results do not show up to date. It is a long process of government to stumble, to obtain a certified product, to test this, obtain an order, take shipping revenues, and revenues. The cycle seven years’ and.
So, take care, defense timelines are very long and are very complicated with the terms of buying behavior. So, a short term, yes, raise but long time reasonable, these orders do not come overnight.
