OMKARA CAPITAL – DAILY NEWSLETTER (12th June, 2026)

DYK: Retail investors in Korea are surrendering life insurance policies, breaking fixed deposits, and taking margin loans to buy Samsung and SK Hynix. Insurance surrenders at the three largest life insurers jumped 16% in Q1 2026; margin debt to buy semiconductor stocks in Korea has quadrupled to ₩8 trillion within months; and the country’s margin-loan balance rose 72.5% in a year against 36% in the US and 5% in Taiwan. Striking — as someone rightly put it: AI is real; the price is not.

HEADLINES
• President Trump says the U.S. “made a great settlement of war with Iran.”
• Crude oil prices fall 4%, gold up 3% and silver rallies 5.5%
• SpaceX listing today

MARKET COMMENTARY: TIME TO BUILD PORTFOLIOS & STAY PATIENT
A movie scene came to mind this morning — the petal-plucking game of “he loves me, he loves me not.” Similarly, these days it is “Trump has ended the war, Trump has not ended the war.” Headlines move markets for a day, yet many still do not trust Trump after several conflicting claims and U-turns over the last 100 days.
A reminder: during the Covid period, the bottom was not made in a day — it was a process marked by frustration and confusion. Bottoming is a process, never a single-day event.

So, what should an investor do?
Most importantly, protect yourself from narratives and absurd valuations. Many stocks are down and will never recover to their past glories. Consider names such as Zaggle, Route Mobile, IRCTC, GRM overseas, IRFC, IREDA, RVNL, IEX, Happiest Mind – once a hype with insane valuations and now no one touching. They may be good companies, but the hype and valuations ran too far. Avoid this bubble category, and others like it, and stick with steady compounders backed by sector tailwinds.
Second, keep it simple and focus on data rather than headlines: after nearly 105 days of war, crude is down from USD 120 to USD 86. Despite every major headline, crude never rose above its recent highs. The war may take time to reach a conclusion, but the point of maximum pain appears to be behind us.

The issue is that there is no clear trend right now amid so many headlines — AI, SpaceX, Trump, crude, currency — and so everyone is confused and even irritated. Algorithms are accentuating the volatility, with one day up and the next down.

We all know this is not a trending market where making money is easy. In India, we have not seen a trending market for almost two years, which adds to the frustration. Yet individual stocks have been rewarded — and that reward came not in a few days, but from holding these companies for one to three years.

So why fight it? Why agonise over headlines every day when they can change at any time? This is the time to build portfolios with the strongest names, without expecting to be rewarded daily — but with conviction that returns will come once things become clearer and the headlines settle or shift to other news.

At Omkara, we are building systems and are excited about “FORUM,” where the entire Omkara community can exchange new stock ideas and build a thoughtful, idea-driven platform. Many more things are being built at Omkara – aaj mehnat karenge to kal safalta milegi

PS: We are focused on manufacturing and financials as key themes, and have added a travel company to the portfolio. Our data room is now clean and updated with our top ideas, should anyone wish to review our latest positions.

Warm regards,
Omkara Capital Private Limited, India
www.omkaracapital.in
Disclaimer: This newsletter is for informational purposes only and does not constitute investment advice. Please consult your financial advisor before making any investment decisions.