Complete Circle

Honourable PM @narendramodi Wishing you a very Happy Diwali.. As Diwali is celebrated across length n breath of country by every section of society, we should have a dedicated 3-4 days holiday. We can reduce/offset with some other days. This will allow families to get together and will also significantly boost consumption n Indian cultural Tourism.

Good week guys .. patience n discipline always pays… broader markets are yet to join the party… Happy Dhanteras.. may Babaji bring lot of mehar and prosperity to your house and our country 🇮🇳❤️

Nasdaq down 5% today. KOSPI & Taiwan also seeing sharp sell off. AI trade softening Opportune time to cut LTCG & STT and attract FDI in Defence, energy, aerospace , EV and Infrastructure.. If we have to do it , we shud do now !! Tons of money waiting on sidelines.

Big move & much needed reform by SEBI.. 1. KYC norms eased significantly for NRIs, OCIs & foreign nationals 2. U can complete KYC digitally from overseas without being physically present in India n open ur investment account. Very positive for AMCs, PMS/AIFs n depositories

Lot of investors are surprised over DII sell figure and breadth of market not being as strong .. lot of small n mid caps falling after posting very good earnings.. In last 2 years, we have had 5-6 failed recoveries .. there is some disbelief and lot of leveraged ,momentum & model based funds ( like BAF, asset allocators) are selling on every rise. Also some large flexi cap funds triming small caps in favour of large caps as FII return. It’s healthy.. Let’s Hope this Recovery becomes stronger & durable.

Almost 50 cr Indians lifted out of extreme Poverty. Long way to go but this is so heartening. A billion Indians are moving up the consumption and dignity ladder. Lot of us don’t understand what implications it has on long term economic growth.

2 BIG milestones in last 24 hours for our Defence & Space Technology 1. Maiden landing of Rafale Marine fighter on INS Vikrant. 2. ISRO successfully launches GSLV-F18 carrying the NVS-03 navigation strengthening India's indigenous NavIC (Navigation with Indian Constellation) system. Will reduce reliance on foreign navigation systems such as the US-GPS, Russia's GLONASS, Europe's Galileo Jai Hind 🇮🇳

If we reduce LTCG and STT, the tax collection will go up 2X within a year. That’s the beauty of capital markets. U offer a hand shake , it will give u a jhappi.. literally Jaadu ki Jhappi 🤗

Markets are the greatest leveller after sports.. U pick Multibaggers and think u have cracked it, u get days like last week where 6 months gains are gone in 6 days. India from most favoured EM for 2 decades became the least favoured market in 2 years. Respect markets and Stay humble. most imp- what u do on downturns decide how much u go up when things turn. When results don’t come , increase ur efforts( research) even more.

4 simple reforms can bring tons of capital n make govt tax revenues also go up 1. Reduce cost of investing -STT,stamp duty 2.Reduce LTCG (less is more ) 3. Allow NRIs to open Demat n PIS digitally 4. GIFT city -benchmark to Singapore, dubai. Onboarding, taxation too complicated

May good always triumph over evil, Dharma always prevail over Adharma. May all the wars n unrest end May the affected rebuild their homes, shops and career. Happy Dussehra !!

If the Honourable FM reduces LTCG and STT, India can get over $150 Billion of FII and FDI flows surpassing even FCNR deposits in next 3 years .. Moreover the capital gain and STT Collections will actually go up. This is the power of capital markets . It’s a win win!

I think this is THE MOST IMPORTANT ,RELEVANT and USEFUL Association being formed after a long time. I can start the Delhi chapter :)

SBI research report is on the money. Increase tenure to 2-3 years and make LTCG nil. Will bring patient risk capital to fund India growth story. Will unleash investment animal spirits and bring tons of long term money.

May Matarani protect us all and bless India…

Take on recent FII selling and way forward. Expect some policy response too! @blitzkreigm @ekta_batra

Good quarterly update from Banks and NBFCs with credit growth above 18% Strong updates from retail n consumer businesses- Dmart ,Trent Barring tractors , PVs and 2 wheelers also show good uptick.. met some auto anc promoters and outlook is positive. Focus on good stock picking n be disciplined .. too much pessimism is often a good level in hindsight :)

Nvidia doing a $150 Bn buyback open AI doing a private funding round of $30 Bn at $1.4 Trillion valuation AI capex in US alone is $700 Bn+ Our big corporates have clearly missed the biggest Industrial Revolution in form of AI.. But there are a few first Gen entrepreneurs investing in AI ancillaries and ecosystem, energy value chain , defence technology as works rearms and future health tech.. use the correction to own them for long term. Others are mostly value traps n may at best give u some tactical bounce …

Revenue growth of NSE 500 cos for Q1 was 21%.. when u meet managements they r upbeat ..concern is not demand ..it’s raw material, input cost. GST, IIP nos ,bank credit reflect economic momentum. Focus on stronger balance sheets n cash flows as cost of capital goes up.

Look for promoters who have consistently scaled up revenues, no or very low equity dilution and are constantly moving up the value chain through innovation and proper capital allocation.. They are very few and may optically look expensive but are the right ones to bet on.