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Nse M&m

WealthyWanderer

I think I accidentally married Mahindra & Mahindra. Not once. Not twice. Multiple times. It’s in my large-cap index fund, it sneaked in via a “quality” factor ETF, it photobombed my “India EV/Manufacturing” theme, and then I also bought the stock directly because, obviously, tractors are cool. Sprinkle in a lender that loves auto loans and a tire company, and voilà: my portfolio is basically an M&M-themed thali.

I’m trying to stop this serial monogamy with a single corporate group without detonating taxes or my sanity. Looking for practical, India-specific brainpower on:

Group-level exposure audit: How do you measure and cap exposure to a single corporate group across direct stocks, multiple mutual funds, and ETFs without a 40-tab spreadsheet and a wrist brace? Any tools/workflows that actually handle fund look-through and promoter group cross-holdings?
Hidden overlap detection: My “smart beta” and “theme” funds seem to all wear different hats but show up at the same M&M party. Any reliable way to quantify overlap across funds and then set hard caps for a group or sector? Do you use a fixed % ceiling per corporate group?
Supply-chain concentration: If I own M&M, an auto NBFC, a tire company, and a steel producer, am I just 4x long the same auto cycle wearing disguises? How do you measure and curb “economic theme” exposure beyond simple sector tags?
Hedging without selling: If I want to keep the long-term holding period but dial down idiosyncratic risk, what’s actually workable in India?
- Single-stock options on M&M for collars or protective puts: realistic liquidity/costs, or just theoretical?
- Pair trades (e.g., long M&M, short a peer) to trim beta while keeping the LTCG clock running-sane or widowmaker?
- Index/sector hedges that don’t hedge away the whole portfolio-anything that tracks the auto cycle reasonably without massive basis risk?
Rebalance tactics that don’t anger the tax gods: Do you favor using fresh cash to dilute exposure, trimming only funds first (vs direct stock), or tax-loss harvesting with near substitutes? Any India-specific gotchas I should know when doing “close but not identical” switches?
Look-through math: For corporate groups with listed subs and cross-holdings, has anyone built a simple method to avoid double-counting exposure? Or is the answer “accept the chaos and diversify elsewhere”?
Practical position sizing: What’s your rule of thumb for max exposure to a single corporate group in India, given cyclicality and index weight drift? 5%? 10%? “If it shows up in three funds, it gets punished”?

If you’ve battled the “conglomerate creep” monster and lived to tell the tale, how did you:
1) discover it,
2) measure it,
3) fix it,
4) keep it from coming back wearing a factor-ETF mustache?

Bonus points for any workflow that doesn’t require me to become a part-time forensic accountant or develop feelings for spreadsheets.

wealthwave78

Haha, “M&M-themed thali” - that’s a solid way to put it. I’ve been there with Reliance creeping into everything from my Nifty 50 to some “diversified” small-cap funds. As a guy who’s been tweaking portfolios since the pre-UPI days, I say the status quo of passive investing is great until it turns you into an accidental conglomerate fanboy.

On auditing exposure without spreadsheet hell: Use Value Research or Morningstar India’s portfolio analyzer - they do basic fund look-throughs for top holdings, but for promoter groups like Mahindra, you’ll need to manually flag cross-holdings (e.g., via BSE/NSE company pages or Screener.in). I cap single-group exposure at 7-8% total portfolio to account for index drift and cyclical blowups; anything over feels like betting on one family’s empire.

Hidden overlaps? Quantify with Portfolio Visualizer’s overlap tool (free tier works for Indian funds if you input holdings), or just export to Excel and sum weights - it’s not perfect, but catches 80% of the party crashers. For supply-chain stuff, yeah, you’re long the auto cycle four ways; I curb it by stress-testing via NSE’s sector indices (auto index as proxy) and limiting theme funds to 10% of total AUM.

Hedging sans selling: Single-stock options on M&M are liquid enough on NSE (decent volumes, premiums around 2-5% for ATM puts), but collars eat into returns - better for short-term blips. Pair trades like long M&M/short Tata Motors work on paper but basis risk kills it long-term; I’d skip. Instead, use Nifty Auto ETF puts for cycle hedge - tracks close without nuking your whole book.

Rebalance: Fresh SIPs to dilute is king for LTCG preservation; trim funds first since they’re easier to swap tax-free within 1 year (no STCG if held >1yr). Gotcha: STT and exit loads on ETFs can bite, so check fund docs.

To keep creep away: Quarterly reviews with a “punish the repeat offender” rule - if a group hits 3+ vehicles, redirect new money elsewhere. Discovered mine via a random CAMS statement; measured with the tools above; fixed by selling direct stock (ate the tax) and swapping themes; now it’s automated alerts on Groww app. Don’t let the “diversify via funds” mantra fool you - true spread needs elbow grease. What’s your total AUM looking like for this mess?

PassiveStreamX

Man, the AUM question is spot on - scale matters for how aggressive you need to be with fixes. If you’re under 50L, the creep might not sting much yet, but at 2Cr+, it’s a real risk amplifier. I’ve seen folks ignore it until a sector downturn (like autos in 2019) turns their “diversified” setup into a 20% drawdown.

Building on the overlap tools, if you’re on Groww or Zerodha, their portfolio trackers now have better fund X-ray features that pull in top-10 holdings automatically - no manual input needed for basics. For Mahindra group specifically, flag Tech Mahindra, M&M Financial, and the core auto entity as a basket on Screener.in; set up a custom watchlist to track aggregate market cap weight in your holdings. It’s not forensic-level, but it flags when the group exceeds, say, 5% without you lifting a finger beyond quarterly checks.

On the supply-chain angle, economic theme exposure is tricky because SEBI doesn’t mandate it in disclosures. I use a quick proxy: map your holdings to Nifty Auto + Nifty Metal indices (via NSE data exports), then calculate your portfolio’s implied beta to those. If it’s over 1.5x the broader Nifty, you’re disguised-levered; curb by allocating new inflows to counter-themes like IT or pharma ETFs. For hedging, Nifty Auto futures are more practical than options for longer holds - low costs (around 0.01% per trade) and you can roll them quarterly without touching the underlying.

Rebalance gotcha I forgot: If you’re in ELSS funds with M&M exposure, lock-in periods complicate swaps, so prioritize non-tax-saver vehicles first. And for pair trades, if you insist, long M&M vs short Ashok Leyland via options has worked in backtests (via Sensibull simulator), but liquidity dries up outside expiry weeks - not for the faint-hearted.

To prevent mustache disguises, I scripted a simple Google Sheet with IMPORTXML pulling BSE promoter data, but if that’s too much, just use ET Money’s “portfolio doctor” - upload once, get alerts on concentration. Kept my Reliance beast in check that way. What’s the biggest M&M chunk in your setup - direct stock or the index fund?