Deep fundamental research, market observations, and valuation frameworks. These memos document our analytical process and investment thinking in real time — including specific calls with entry prices, so our record speaks for itself.
Every call published with entry price and thesis. Returns calculated from recommendation date. No survivorship bias — all calls shown.
A multi-factor analysis of Indian index valuations and forward return probabilities. Evaluating Nifty 50, Next 50, Midcap 150, and Smallcap 250. The Nifty Next 50 emerges as the strongest asymmetric opportunity at 19.94x PE with an estimated 3Y forward CAGR of ~22%.
Read Full MemoA framework for investors looking to accumulate systematically in Indian equities. Recommended vehicles include Jio BlackRock Small Cap 250, Motilal Oswal BSE Value Enhanced Index, and Nifty Next 50 — selected for factor exposure, cost efficiency, and long-term compounding potential.
Read on SubstackComprehensive analysis of PFC's dominant position in India's infrastructure lending ecosystem, examining government backing, asset quality trajectory, dividend yield, and the structural tailwind from India's power capacity expansion.
Read on SubstackPublished during the rights issue at ₹144 per share when market sentiment was deeply negative on microfinance. The thesis focused on balance sheet recapitalisation, rural distribution strength, and the margin of safety at distressed valuations. Currently trading at ₹180 (+25%).
Read on SubstackAnalysis of Oberoi Realty's premium positioning in Mumbai's luxury segment, undeveloped land bank valuation, and the structural demand tailwinds for high-end residential real estate in India's financial capital.
Read on Substack