No Goal Investing Year 2 Month 3 April 2026
In last month’s update, I wrote about the various announcements related to the war and the talks around it. Somehow, those talks have materialized. Even though, if some announcements were to be believed, there was no one significant enough left to sit on the other side of the table, it appears there are still people who can participate in negotiations.
Another thing becoming clear is that Iran doesn’t actually need a nuclear weapon. The country can hold the world to ransom through the Strait of Hormuz. In some ways, that seems more powerful than a nuclear weapon. With a nuclear weapon, you can target launch facilities or other associated infrastructure. With Hormuz, what do you target? The USA has now put up a naval blockade, and who knows what it helps achieve.
The market, however, has responded positively to these talks about ending the war and finding a solution. That has created some cheer, even though it might only be temporary.
This month, the 26th fell on a Sunday. So, the data used here is from Friday, 24th April.
The three stalwarts continue their monthly investments, and they are hoping that the recovery will have a positive impact on their respective portfolios.
Let’s get into the details.
The update –
The recovery from the 22,000 level, which long-time readers will recognize as a strong support zone for the Nifty, to 24,000 was quick. After that, the Nifty has stayed within the same range.
Discipline again continues, even when the market doesn’t.
Indu’s portfolio (The index fan) –
| Mutual Fund Scheme | Existing Units | New Investment | NAV | New Units | Total Units | Value |
| ICICI Pru Nifty 100 ETF | 13961.039 | 22000 | 27.65 | 795.660 | 14756.699 | 408022.72 |
| Invested Amount | 406000 |
| Current Value | 408022.7 |
Muthu’s portfolio (the mutual funds sahi hai guy) –
| Sr No | Mutual Fund Scheme | Existing Units | New Investment | NAV | New Units | Total Units | Value |
| 1 | ICICI Large and Mid Cap fund | 79.319 | 4400 | 1003.23 | 4.386 | 83.705 | 83974.92 |
| 2 | HDFC Mid-cap Opprtunities fund | 411.967 | 4400 | 197.07 | 22.327 | 434.294 | 85586.26 |
| 3 | Parag Parikh Flexi Cap fund | 933.425 | 4400 | 82.69 | 53.211 | 986.636 | 81584.92 |
| 4 | Nippon India Multi Cap fund | 271.460 | 4400 | 295.38 | 14.896 | 286.357 | 84583.99 |
| 5 | HDFC Small Cap fund | 583.991 | 4400 | 130.96 | 33.598 | 617.589 | 80879.42 |
| Invested Amount | 406000 |
| Current Value | 416609.5 |
Shekhar’s Portfolio (the stock picker) –
| Stock | Existing Shares | New Investment | Buy Price | New Shares | Total Shares | Value |
| Aarti Industries | 18.60 | 440.00 | 472.75 | 0.93 | 19.53 | 9234.684 |
| Aarti Pharma | 10.66 | 440.00 | 692.95 | 0.63 | 11.29 | 7823.71 |
| Asian Paints | 3.24 | 440.00 | 2485.1 | 0.18 | 3.42 | 8496.226 |
| Astral | 5.32 | 440.00 | 1563.2 | 0.28 | 5.61 | 8761.92 |
| Axis Bank | 6.93 | 440.00 | 1365.9 | 0.32 | 7.25 | 9901.791 |
| Bajaj Finance | 8.79 | 440.00 | 921.55 | 0.48 | 9.27 | 8543.664 |
| Bajaj Finserv | 4.03 | 440.00 | 1770.7 | 0.25 | 4.28 | 7581.834 |
| Bajaj Housing Finance | 61.75 | 0.00 | 89.39 | 0.00 | 61.75 | 5520.226 |
| Britannia | 1.41 | 440.00 | 5730.5 | 0.08 | 1.49 | 8547.547 |
| Chola Investment | 5.25 | 440.00 | 1568.2 | 0.28 | 5.53 | 8666.322 |
| Dabur | 15.43 | 440.00 | 451.1 | 0.98 | 16.40 | 7398.429 |
| Deepak Nitrite | 3.50 | 0.00 | 1690.3 | 0.00 | 3.50 | 5910.682 |
| Devyani International | 42.07 | 0.00 | 106.98 | 0.00 | 42.07 | 4501.062 |
| Divis Labs | 1.26 | 440.00 | 6361.5 | 0.07 | 1.33 | 8476.039 |
| DMART Avenue Supermart | 1.96 | 440.00 | 4443.5 | 0.10 | 2.06 | 9166.322 |
| Eicher | 1.30 | 440.00 | 7111.5 | 0.06 | 1.37 | 9719.405 |
| Garware Technical | 8.86 | 0.00 | 627.1 | 0.00 | 8.86 | 5553.306 |
| Havells | 5.23 | 440.00 | 1238.6 | 0.36 | 5.59 | 6918.476 |
| HCL Tech | 4.92 | 440.00 | 1203.2 | 0.37 | 5.29 | 6359.448 |
| HDFC Bank | 8.58 | 440.00 | 784.85 | 0.56 | 9.14 | 7172.563 |
| HUL | 3.29 | 440.00 | 2327.3 | 0.19 | 3.47 | 8087.09 |
| ICICI Bank | 5.84 | 440.00 | 1326.2 | 0.33 | 6.17 | 8185.377 |
| Indian Hotels | 10.44 | 440.00 | 635.35 | 0.69 | 11.14 | 7075.256 |
| Infosys | 4.89 | 440.00 | 1154.6 | 0.38 | 5.27 | 6080.457 |
| Jio Finance | 29.07 | 440.00 | 245.73 | 1.79 | 30.86 | 7582.749 |
| Kotak Mahindra Bank | 18.99 | 440.00 | 370.85 | 1.19 | 20.18 | 7483.652 |
| L&T Technologies | 1.49 | 0.00 | 3379.8 | 0.00 | 1.49 | 5030.087 |
| LTI Mindtree | 1.46 | 440.00 | 4282.3 | 0.10 | 1.56 | 6690.31 |
| Mankind Pharma | 3.23 | 440.00 | 2267.4 | 0.19 | 3.42 | 7759.237 |
| Manyavar Vedant Fashions | 8.75 | 0.00 | 450.05 | 0.00 | 8.75 | 3936.053 |
| Metro Shoes | 6.83 | 440.00 | 1042.45 | 0.42 | 7.26 | 7564.711 |
| Muthoot Finance | 2.97 | 440.00 | 3493.5 | 0.13 | 3.10 | 10832.02 |
| Naukri Info Edge | 5.67 | 440.00 | 984.95 | 0.45 | 6.11 | 6020.698 |
| Nestle | 6.60 | 440.00 | 1421.3 | 0.31 | 6.91 | 9823.249 |
| Nykaa | 37.91 | 440.00 | 262.79 | 1.67 | 39.59 | 10403.24 |
| Page Industries | 0.16 | 0.00 | 37665 | 0.00 | 0.16 | 5986.782 |
| PayTM | 8.05 | 440.00 | 1147.35 | 0.38 | 8.43 | 9677.414 |
| Pidilite | 5.32 | 440.00 | 1394.3 | 0.32 | 5.64 | 7859.881 |
| Reliance | 5.70 | 440.00 | 1327.8 | 0.33 | 6.03 | 8008.899 |
| SRF | 2.78 | 440.00 | 2493.6 | 0.18 | 2.96 | 7372.665 |
| Tata Consumer | 7.16 | 440.00 | 1174 | 0.37 | 7.54 | 8850.931 |
| Tata Elxsi | 1.38 | 440.00 | 4193 | 0.10 | 1.48 | 6207.611 |
| Tata Commecial | 7.40 | 440.00 | 424.55 | 1.04 | 8.44 | 3581.67 |
| Tata Motors | 12.69 | 440.00 | 350.5 | 1.26 | 13.94 | 4886.468 |
| TCS | 2.40 | 440.00 | 2396.9 | 0.18 | 2.58 | 6190.831 |
| Titan | 2.16 | 440.00 | 4410 | 0.10 | 2.26 | 9946.387 |
| Torrent Pharma | 2.21 | 440.00 | 4117.2 | 0.11 | 2.32 | 9546.637 |
| Trent | 1.60 | 440.00 | 4297.3 | 0.10 | 1.70 | 7300.822 |
| Tube Investments | 2.67 | 440.00 | 2968.7 | 0.15 | 2.82 | 8368.099 |
| Varun Beverages | 15.79 | 447.90 | 490.45 | 0.91 | 16.71 | 8193.63 |
| Zomato | 31.02 | 440.00 | 256.79 | 1.71 | 32.73 | 8404.685 |
| Kwality Walls | 2.54 | 0.00 | 27.19 | 0 | 2.54 | 69.0626 |
*This month we had dividends from Varun Beverages. We are reinvesting the dividends in the same stock.
| Invested Amount | 406000 |
| Current Value | 387260.3 |
The recovery has been significant in all three portfolios from their previous levels. However, the uncertainty remains. The negotiations are still ongoing and almost every other day you get the news regarding further escalations and then very soon after that of de-escalation.
If you look at the numbers in absolute terms, Shekhar’s portfolio has grown almost at par with Muthu’s. And Muthu is emerging as the winner by a decent margin. Shekhar’s portfolio is still below his invested amount, but the other two have recovered enough to turn positive this month.
The comparison and the graph –
| Month | Indu | Muthu | Shekhar | Investment |
| Jan-25 | 100000 | 100000 | 100000 | 100000 |
| Feb-25 | 117247.7 | 115538.4 | 116557.2 | 120000 |
| Mar-25 | 142363.5 | 140184.6 | 138494.2 | 140000 |
| Apr-25 | 165366.2 | 162416 | 163500.4 | 160000 |
| May-25 | 192137 | 191789.2 | 189153.7 | 180000 |
| Jun-25 | 217175.4 | 217913.8 | 213291.5 | 200000 |
| Jul-25 | 232075.9 | 236487.7 | 229127.7 | 220000 |
| Aug-25 | 251337.4 | 255466.6 | 249919.1 | 240000 |
| Sep-25 | 270980.7 | 275483.7 | 266187.4 | 260000 |
| Oct-25 | 304457.6 | 304522.5 | 295892 | 280000 |
| Nov-25 | 325694 | 325651.9 | 313676.1 | 300000 |
| Dec-25 | 344596.2 | 341517.5 | 332826.2 | 320000 |
| Jan-26 | 351311.2 | 347628.1 | 335923.3 | 340000 |
| Feb-26 | 378748.3 | 378656.9 | 355547.2 | 362000 |
| Mar-26 | 364801.9 | 369107.5 | 341042.7 | 384000 |
| Apr-26 | 408022.7 | 416609.5 | 387260.3 | 406000 |
The drop over the last month was significant, but so is the recovery this month. Given the geo-political uncertainties, no one knows what’s in store for this month. Maybe except the one whose Truth Social updates move the market. Interestingly, a recent move in market happened because Araghchi posted something on X which was misread by people as “Hormuz is completely open for transit”. Strange times, certainly.