So, market can be wherever it is, if tomorrow an idea comes in, the residual cash will be immediately deployed, say 5% or 10% will go into two stocks and you will see a 10% cash holding. The point is to have conviction in the ideas we own and only go for ideas where we are sure that we have some edge and understanding how the business works and have some visibility how the business will grow.New plus existing. They are also in products which are in categories of non-sugar based products like Sucralose, Stevia, the natural ingredient in terms of artificial sweeteners. We used to invest in Wyeth a while back and it became Pfizer and we still own the stock. We keep track of it in terms of adding or subtracting and will make a call when it happens.

Source: Economic Times March 22, 2018 06:22 UTC