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Category Archives: India
India Watch List: UPL Limited
On August 6, 2023, we said the following of UPL Limited:
“Our models indicate that the average downside risk is -25% within a given year if held for a minimum of 3 years. Again, brace for a –25% to -57% decline and determine allocation from there, only if the fundamentals support taking a position.”
Since that time, the price of UPL Limited fell exactly -26%.
From that low, UPL Limited has increased nearly +70%. Naturally, we cannot account for the increase at the lows. However, the Price Momentum Indicator has given reasonable expectations of where the stock might go.
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Posted in India, PMI, Price Momentum, UPL Limited
India Watch List: Mahindra & Mahindra PMI
On May 16, 2025, we said the following of Mahindra & Mahindra:
“…now is a good time to confirm the fundamentals so that you’re ready when and if the price is in alignment with potential acquisition.”
It goes without saying that Mahindra & Mahindra is not the most optimal purchase at this time. However, the latest activity confirms the Price Momentum Indicator issued seven months ago. Additionally, the timing helped to avoid the 2023-2025 period of trading in a range.
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Posted in India, M&MFIN.NS, PMI, Price Momentum