OMKARA CAPITAL – DAILY NEWSLETTER (14th June, 2026)

HEADLINES
•⁠ ⁠RBL Bank appoints Bhavin Lakhpatwala as CFO with effect from June 12, 2026. In his previous role at HDFC Bank, he was part of the CFO leadership team.

MARKET COMMENTARY: THE WORLD IS HEALING
Disclaimer: the headlines may change when you are reading this newsletter or later.

Suddenly, it feels as though the world is healing and the war is coming to an end. The SpaceX listing went through with a 20% gain. Crude is drifting lower. The RBI delivered a bazooka on forex inflows into India. India’s banking sector saw its strongest credit expansion in nearly 2 years, with bank loans surging 17.44% YoY — a remarkable pace.

Beyond the above good news, I expect more around the corner — an India–US deal soon, a cabinet reshuffle, Kusum 2.0, excise-duty cuts and anti-dumping duties (ADDs) being applied.

All this comes on the back of FII short positioning at ~92% in India, plus heavy selling over the last two years. Even Indian traders have grown frustrated, with a deep disbelief that good things can happen — or a fear that any rally will prove short-lived. It is a perfect set-up for short-covering — and for fear-of-missing-out to pull participants back into the markets.

I dare say that over the next few days we could see a tsunami of stock ideas from every corner, and plenty of action back in the markets. New stock ideas, new themes, new turnaround candidates, new narratives — all will emerge from every corner. We too will feel we have missed many stocks; that is normal. So relax, and don’t get carried away by irrational exuberance. Always respect valuations and long-term structural cycles. As I always say: protect yourself from narratives and absurd valuations.

We have been sharing investment ideas over the last few months, and the FORUM section is now surfacing many ideas, even in SMEs. So let me focus a little on markets and trading today.

My thought: markets will now hunt for cheap valuations rather than expensive ones. Promoters, brokers and bankers will be active. You will see plenty of fund-raising, buybacks and block deals return. Good businesses that have already run up and turned expensive may consolidate for a while.

Only for traders: I am taking high-delta bets in financials (some features: ownership & management change + earnings visibility is very high + low ownership + cheap valuations + little or no research coverage by foreign institutions + hated for whatever reasons + big sector tailwinds) like IIFL Finance, RBL, Samman Capital, Manapuram, Fed Fina, Northern ARC, Jio, Edelweiss, JM Fin. Even in trading, I prefer size and stocks with adequate liquidity. Kusum 2 will keep solar pump stocks excited like Shakti Pumps, Oswal Pumps. Borosil Renewables remains a key stock for me to track, as big names have begun entering it — even last week. And the India–US deal will surely spark textile names.

And some of the above names are not a one-week or one-month trade — if things fall into place, they can deliver 1–2–3x as well.

Do as you see fit — but never forget risk management and respect for valuations.

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.