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If you keep an excuse then your faith is that brother, you will keep 10, you will keep till 12, it will remain 15, in which you have bought it very cheaply, you should not even touch it, the problem is that we will ask for a lot, like the mind is fine, like the stocks that have come through IPO, they have been sitting for 15-20 years, grandfather had given it to me, father had given it to me, so it is less to touch them, okay yes, but whatever I mean, whatever benefit you want to take from the market, clarity from the trend, skill about the current trend, it will be near, a little from the bottom, that will be how much 2%, then they tell me that we need 2%, then it is discussed in the registration, now when it will come, it will be known a little from today's words, it is a little visible, it does not feel warm in winter, it does not feel warm, so that effect of 2% will be very painful, okay yes, it will be very painful and how will it be hit, who will be hit, how much will come and go.
It is very difficult to picture what our psychological behavior will be. So, in that, you feel that secular is an opportunity or if you focus on corporate banks like ICICI Bank, you will not just talk about stocks but ICICI Bank has led in stocks like SBI. HDFC and Kotak have underperformed a bit, which are going out of form a little earlier and a little mixed and driven by NBFCs.
Bajaj Finance is performing at a different level. Gold stocks are almost in a loop, so how will you invest in it through any point, how do you mean invest in it, then every bank has its own dynamism, where does the leadership stand, what is happening in every company, that leadership and what is it, out of, for, the continuity of the current leadership, they are playing a lot in the forward multiplex.
You have a multiplex of 24-25, it is high in it and for me to have multiples even beyond that, they want continuous of the current. The strength of your leadership and your teacher's ship will come to you because of that. The trouble that banks faced in the last 8-10 years after 2008 has been written in the clauses that there is no power of 1200.
If you default on any other bank, then you are in the hands of the lender, that is, the power of the lender has become literally unlimited. And the credit demand is strong, so your credit cost, whatever loss you will incur, will be very less and the demand will remain. If we are talking about economics, then 14-15% will be normal credit and the good banks will be half.
You will find all types of banks in this type of multiplex. So I think the worst of the worst will do very well, even the worst of the worst will do well, but the good ones will do very well. Well, Ramdev ji, the one which is in the most focus right now is cement and everyone is thinking that have we missed something?
And obviously we all know the trigger for this, but you have done this. Look at all the cycles, so how will you approach it, what advice would you give to investors, what is it, I just focus on the trends and I do my own research, I will go and present it to everyone all day long, so what is it, I trade Pharaoh, will go and meet the company brother, how much truth is there in what he is saying about slow, then if we talk about it, then even now that means there is a problem in YouTube, the cement industry is still the biggest in this cement industry, whether you are in transportation or manufacturing or cement, the underlying thing is energy, a lot of energy is required, ultimately you make it from gravel and soil, you do not have much intelligence, it is just energy, now energy is difficult for you, so pricing power is limited and cost is high, I would say that if it turns out to be temporary, brother, for some reason, like the war ends, global demand decreases, so what is it that it is not looking like that right now, energy prices are not looking or our demand is very strong, but It is also possible that the global economy is slowing down and India can rise somewhere.
It will also affect us through exports or by wearing it. So right now you feel that maybe the market has passed a little bit. This means there is a little bit of risk in it. There is a corporate event and Adani's entry has increased a lot of excitement. Brother, what will happen in the future? So there is a different aspect.
It is very difficult to say anything about it. But if you look at the fundamentals, then there is a very strong copper. Okay, let's ask one thing. Which is your last major creator that you advise people to read a lot? So, any last book that you liked and you can learn some lesson from it? Look, there is a book of 2018 called Master the Market Cycle.
Okay, by Hour Marks, I finished reading it. I mean, this book is so good. Although it is not my type of choice, it is a little bit based on timing. So, you change the odds in investing. So, you change the odds in your first investment. It has been said in it that brother, your pay off is behind it and it is okay, so obviously you have to time it will soon send you down to the bottom, you will get gears but at a list like century, you should catch 20 bikes or 25, always in the market if there are 50 sectors, these 50 groups are your stocks, then you should understand that out of them there will be a lot of bullishness, right now 30 will be bullish, 20 will remain negative, so you should always look at it like now see in private banks also there is 30, 40, 50 and in no also there is 30-40, so that cycle is on right now, but it is from 100 is coming out of 70, so where will it go, whether it will go to 40, 50, whatever a particular price will come from there, then I want you to do anything, register, do something, it will definitely work, so nine clearly, for example, there are two big sectors here, one from bank and the other it is according to the second biggest, and I have to talk about that much man Approximately, your profit is 27-28% profit and free cash flow.
You can bank it, little zero. Okay, in this 24% profit, almost 20% is free cash flow, free cash flow, growing free cash flow, high quality free cash flow. But how do you get the sector on your side and then you will date you have to find the company which is going to be the best? Okay, so in this, Ramdev ji has given two-three times that look, okay, there will be some ups and downs but it will continue, but you should look at the track record of the company and at what level they have done compounding and where will you take this call.
Again, everything will not go down in a straight line, it has come down quite a lot, so perhaps some opportunity in banks is quite positive. Another theme that is emerging, Ramdev ji, is that nothing has happened in 10 years of manufacturing. You just focus on manufacturing. You agree with that and opportunities in manufacturing will be clear.
The opportunity in manufacturing that we are seeing right now is an export limited opportunity, which means that you can get extra growth under the Pillai scheme on top of the domestic growth because you are in manufacturing, so you have to be, that means the government is very much focused on how to take manufacturing forward so that jobs are created in the economy, the GDP which is left at 15-17%, let's push it to 20-25%, that is a little less, so in that, for example, in manufacturing, you will see, there is a trend around the defense sector, which is called manufacturing, you know, so I think what is more, see, I am more confident in the domestic demand right now than the external demand and it is also excellent, as times come under cost, if there is not moving then there will be validity when there is land there, there will be Significant premium domestic so right now I am the most premium sector and customers are sitting in India what they would so I would like you to have much more predominant share of consumption or revenue coming from India because date is predictable [Sangeet]
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