Divam Sharma

How Ratnaveer Precision Engineering Limited is competing with big giants by doing things no one else is

Why choose THIS company over 3M for your car? In conversation with the promoter of Sumax Engineering Limited

How Banks are using AI for Customer Service

Big screen. Booming sound. A packed hall reacting as one. For a few hours, the outside world simply disappears. India has always loved that feeling. We sell close to a billion movie tickets every year, and nearly 2,000 films release here annually. For most of us, a trip to the theatre isn't just watching a film it's an outing, an occasion, a memory in the making. But here's the thing: that experience has never reached everyone. For 25 years, a proper multiplex like PVR was mostly a big city privilege. If you lived in a smaller town, that magic simply wasn't available to you. And that gap is exactly what PVR is now quietly racing to close. The reason it stayed away for so long was simple economics. A regular PVR is expensive to build anywhere from ₹2.5 crore to ₹5 crore for a single screen once you add recliners, IMAX, and premium finishes. To earn that money back, PVR needed high ticket prices (₹220–₹1000) and big premium malls with heavy footfall. Both mostly exist in metros. Smaller towns have plenty of movie lovers the appetite is everywhere. But those audiences want something affordable, and PVR's premium, high cost model simply didn't fit them. So the company stayed where the numbers worked: the big cities. Just how lopsided is it? Of PVR's roughly 1,780 screens, only 3-4% (around 55-70 screens) are in smaller towns. The other 1,700-odd sit in big cities. That is now changing. A couple of years ago, PVR had another problem too. Building fancy cinemas is expensive, and to grow, the company had borrowed heavily. It was a great brand carrying a lot of debt. So PVR changed how it does business in two smart ways: 1. Asset-Light Growth First, it stopped paying to build every cinema itself. Instead, it now partners with others who put up the money to build the cinema, while PVR simply runs it and shares the earnings. Less spending, less borrowing. The effect has been dramatic: a company that was deep in debt two years ago now actually has more cash than debt for the first time ever. It can fund new cinemas out of its own earnings without borrowing more. 2. Smart Cinemas for Small Towns Second, PVR is going to smaller towns with a new format called "Smart Cinemas." It offers the same PVR quality of sound and screen, minus the expensive extras like recliners and IMAX. Because it costs far less to build (about ₹1.9 crore per screen), the tickets are also 25-35% more affordable around ₹150–₹175 in towns like Muzaffarpur, instead of ₹220–₹250. PVR has lined up around 300 such towns to enter. In simple terms: PVR is lowering its cost to build while making the experience more affordable to watch, using that to reach a whole new India it couldn't serve earlier. But waitisn't OTT supposed to have killed all this? For years, that was the biggest fear hanging over cinema stocks. With Netflix, Prime, and Hotstar at home, why go out? Yet the numbers tell a different story: even after a decade of OTT, India's box office is up 20% this year and is now bigger than it was before Covid. The truth is, the two aren't really enemies. A night at the cinema is an outing, not just a screening. PVR's small-town push is a bet that as more of India gets a good cinema nearby, out of home movie watching grows, not shrinks. Is it working? So far, yes. More people are showing up, more are spending on food, and the company just swung from a loss to a healthy profit. It helps that Indian cinema is having a strong run, spread across many languages, not just one big hit. The one real risk is simple: PVR's business lives and dies on whether people come to watch. And that depends entirely on content quality the one thing PVR itself can't control. A weak run of films can quickly empty the halls. But the bigger picture is clear. This isn't just a cinema bouncing back after tough years. It's a company quietly rebuilding how it grows spending less, charging affordable prices, and finally opening its doors to small town India. Disclosure: This post is for information and educational purposes only, not a recommendation to buy or sell. Please do your own research.

How does one lose money in rallys? Worth pausing on this, because it's a lesson a lot of Indian investors needed. 🧵

Worth pausing on this, because it's a lesson a lot of Indian investors needed. Rewind a few months. Our market had been struggling ever since it peaked in September 2024. Flat, frustrating, going nowhere. And every day the timeline reminded you that somewhere else, everyone was getting rich. South Korea's KOSPI was up nearly 200%, one of the best performing markets in the world, riding the AI and semiconductor boom. We got question after question from Indian investors: How do I put money into Korea? How do I catch this? Am I missing the biggest trade going? The frustration was real. Our Market looked dead. Theirs looked alive. Now look at the screenshot. That same KOSPI is down around 40% from its peak. One weak SK Hynix result was enough to unwind the entire AI euphoria, with leveraged ETFs pouring fuel on the way down. And here's the detail that says it all. On the way up, the FOMO headlines are all about stocks hitting upper circuits, prices jumping so fast that trading pauses because there are only buyers. On the way down, it flips. The KOSPI hit lower circuits, circuit breakers that halted the whole market two days in a row, the first time in its history. The market falling so fast the exchange has to stop trading. Same crowd. Same euphoria. Just the other side of it. Upper circuit is what pulls people in. Lower circuit is what they're left holding. Now here's the part most people missed. Those two "boring" years for the Indian market weren't wasted at all. While the froth was building elsewhere, our market was quietly consolidating, and through those repeated corrections, valuations became far more reasonable and attractive than they were at the top. That's exactly how cycles work. The unloved, going nowhere market slowly becomes the interesting one, while the crowd is busy chasing whatever is already up 200%. So the uncomfortable truth is this. Sitting out the KOSPI rally cost you nothing but envy. Chasing it at the top could have cost you far more. Missing a rally never hurt anyone's savings. Buying into the last leg of one does. A flat market isn't a dead market. Sometimes it's the one quietly getting cheaper, safer, and setting up for its turn, while the exciting one is busy hitting lower circuits. Disclaimer: For informational and educational purposes only. Not investment advice or an offer to buy or sell any security.

How are "boring" manufacturing businesses using AI to their benefit?

Five years is a long time to hold up under scrutiny. Our Super 30 Dynamic Fund just did. It has been featured among India's top small-cap PMS strategies on 5-year returns, in bl.portfolio's July 2026 PMS deep-dive. A single strong month tells you very little. Five years covers the whole picture, the rallies and the corrections, the crowded trades and the quiet panics, the long stretches where sticking to a process is far harder than abandoning it. Holding a place among the strongest small-cap strategies over that window says the approach works through a full cycle, not just a kind one. To everyone invested alongside us, thank you. We know what that trust represents.

A solar policy update dropped this week that looks bearish at first glance. Read it closely, it says the opposite. 🧵

Pharma stocks wobbled today after Trump announced a tariff of up to 200% on generic drugs entering the US. Scary headline. But before reacting, it's worth reading the fine print. Here's what he actually said. Generic drugs coming into the US will face 0% tariff for the next two years. Then 100% from August 2028. Then 200% from August 2029. Notice the first line. Zero percent, for two full years. So whatever happens eventually, there is no financial impact right now. Nothing changes for Indian pharma exporters until 2028 at the earliest. That alone takes the panic out of the headline. Now, why does this even matter for India? Because India is effectively the pharmacy of America. Indian companies supply close to 40 to 47% of all generic medicines used in the US, and the US market is about a third of India's total pharma exports. So yes, on paper, a big tariff sounds like a serious threat. But three things are worth keeping in mind. One, we've seen this movie before. This isn't Trump's first tariff threat, on pharma or on other sectors. Many of these announcements have been walked back or softened later. Analysts today already called this one "mostly sentimental." Two, the timing is telling. The real tariffs only kick in around 2028-29, which is right at the edge of, or beyond, his current term. Whether they actually get enforced depends on a lot of politics between now and then. Three, the US needs these medicines. Indian generics are what keep American healthcare affordable, drugs for blood pressure, diabetes, cancer, mental health. Slapping a 200% tariff on them would raise prices and risk shortages for American patients. That's a hard thing to actually push through. So what's the honest read? Near term: this is noise, not damage. The two year zero window protects the sector for now. Long term: there's a real question mark, but it's a conditional one, and it depends entirely on whether this is enforced or quietly dropped like past threats. The one genuine risk is if it does land. Generics are a low margin, high volume business, and a tariff that steep would only be solved by shifting manufacturing to the US, something expensive and few companies would rush into. For now, though, the smart move is to watch, not panic. The headline is loud. The two year silence underneath it is what actually matters. Disclosure: This post is for educational purposes only. We do not guarantee any assured returns on any investments. Past performance of securities/investments is not indicative of their future performance. The securities quoted are for illustration only and are not recommendatory. Registration granted by SEBI, enlistment with BSE and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors

Discounts. Sale. 50% off. Every brand's End-of-Season Sale gets shoppers rushing in. The stock market is running its own version right now, an End-of-Bear-Run Sale. Same quality businesses, prices that weren't available a year ago. We break down why the correction might be the opportunity, not the danger. 👇

"Copper will grow double the GDP of India" says Devendra Surana, MD Bhagyanagar India Ltd.