OMKARA CAPITAL – DAILY NEWSLETTER (22nd June, 2026)
INDIAN ECONOMY: MORE POSITIVES & FORECASTS
Headlines
• U.S., Iran agree on roadmap for final deal and plan to end military operations in Lebanon
• Mumbai receives pre-monsoon showers as IMD forecasts monsoon arrival within 48 hours (good news)
Stocks To Watch
• Wendt: SBI Contra Fund increased stake in the co from 6.5% to 8.32% & Mirae Asset Small Cap Fund from 2.26% to 2.43% in March 2026 QoQ. Mukul Agarwal continue to own 2.5% stake in co (remains a high conviction personal bet for VB)
• Sansera Engineering: Morgan Stanley arranged for an investor meet in its plant in Bangalore (REMAINS A BEAUTY)
• Gokaldas Exports: SBI Life Insurance Company bought 4,00,000 @ Rs. 814.79 (FINALLY)
• Voltas: crossed 1mn RAC sales vol in first 3 months of FY27 itself (vs 2.25mn in FY27); This translates to ~40-45% vol grth in Q1FY27, rev grth could be >50% & Mkt share gains likely
• Reliance AGM: ambition to more than double RIL’s consolidated EBITDA over the next five years
• Amber concall: brokerages upgrade target price post concall – Nuvama up target price to TP 9200 from 8210. Kotak: Target: ₹8,710, Earlier Target: ₹8,150
• Kotak Upgrade BPCL – TP Rs 320, HPCL – TP Rs 400 & IOC – TP Rs 150 to REDUCE (from SELL)
INDIAN ECONOMY: MORE POSITIVES & FORECASTS
Everything seems to be falling in place – despite some rumbling over the weekend, again between USA & Iran.
Apart from stocks – I was happy to read Citi’s latest macro review for India: FY27 BoP surplus forecast at $45 billion. Pre-RBI policy this was a deficit of $50 billion. CAD seen at 0.9% vs 2% earlier. FY27 CPI seen at 4.7% vs 4.9% earlier. FY27 GDP seen at 6.9% vs 6.6% earlier. And rates - Citi back to saying no rate hikes in FY27!
If the economy is turning – earnings will turn, and stock as well. I am not surprised to read Morgan Stanley note today that India is entering a strong earnings cycle & earnings could compound at >15% in the next five years.
We have been suggesting just holding strong names in the portfolio and no major reshuffling. Direction is good, speed cannot be known. Don’t get into trap of
"fear of missing out" (FOMO). Don’t lower down the quality of your portfolio.
At Omkara, we are keeping our eyes and ears open, but we are not getting carried away. For opportunistic investors, we have created FORUM, where we try to dig into new and interesting small-cap and SME ideas backed by data.
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.
