Two days to Diwali 🪔 🪔

The benchmark indices were on a free fall for the last few days in October and the stocks have shed some of their overheated gains; just in time too with two days to Diwali 🪔. The recent pull back has provided a window of opportunity to consider a few stock buys for this Diwali. And at this time of the year, every brokerage house releases their top picks for the Diwali Muhurat Trading 2021.

The Muhurat Trading is held on Diwali day, 4 November and is a one-hour special trading window considered a ceremonially auspicious time to trade.

It’s a popular and long standing tradition and this year the Muhurat trading time is between 6:15 pm to 7:15 pm on 4 Nov 2021.

It’s an age old custom and in addition to many other household purchases considered for Diwali, it’s good to handpick your stock(s) beforehand to buy for this year’s Muhurat trading too.

I have only one pick and I did not see it on any of the brokerage recommended lists 😊. I choose Power Grid Infrastructure Investment Trust (PGInvIT). The IPO of PGInvIT was in April this year.

The IPO allotment price of PowerGrid Infrastructure Investment Trust (PGInvIT) was at Rs. 100/- per unit and current price is Rs. 121/- per unit.

I have posted on the payouts and working of InvITs in prior posts 👉 Equwise: Investing in IndiGrid InvIT⚡️ .

The listing of Power Grid Infrastructure Investment Trust (PGInvIT) makes it the second publicly traded power distribution InvIT in India, the other being IndiGrid InvIT. PGInvIT is govt. sponsored.

The InvITs make quarterly distributions and PGInvIT, though the share price has appreciated by 21% since the IPO, did not announce any payouts for the 1st quarter from Apr-Jun 21. But for the second quarter from July-Sep 21, they are considering a payout to the unit holders.

The PGInvIT board meet on 9 Nov 2021 will be considering the first distribution to the unit holders and the record date for the payouts, if any, has been declared as 15 Nov 2021

So, it’s a wait and watch to see the payouts.

Till next post, take care !!