Capital Goods is a deeply cyclical sector. If identified timely, capital goods companies have a potential to generate outsized multi-decadal returns. For instance, the BSE Capital Goods Index appreciated by…

Selecting/Exiting stocks based on election assumptions? Just a one-word answer – “Don’t”. Benjamin Graham, the father of value investing, famously noted that “In the short run, the market is a…

FOMO (Fear Of Missing Out) has modestly crept back into the market narrative. The irony is that sidelined cash may keep a relative floor on how far markets correct. Do…

2024 started with a bang, as all major market indices – Nifty, Nifty Midcap and Nifty Small cap – surged to new highs. With increasing retail investor participation, risk appetites…

As everyone looks forward to 2024, the street is trying to predict the new theme which will catch the eye. In 2020, it was the pandemic. In 2021 supply chain…

Despite the global wall of worry over the last two years, the Indian equity markets stood resilient, outperforming many of its emerging market peers. Consequently, Indian markets witnessed a great…

It is worthwhile to consider a Halloween landmark for markets as the world cleans up from this year's night of extravagant costumes and way too much candy. Halloween 2007 marked…

Markets are noisy. Together, US federal government shutdown fears, Fed hawkishness, and lingering inflation have led to increasing fear in the minds of investors. In India too, many have been…

To say the past few months have been a whirlwind for markets doesn’t begin to describe it. Ever since commodities’ November sell-off, commodities have been caught in a tug of…

Times are tricky. Some tend to find solace in the Nifty50’s ~7% year to date rally, while others see the recent spike as a sign to become cautious. The global…

Nifty50 has finally crossed 19000, a reason to celebrate considering this achievement when many global economies are likely to undergo recession in 2023. With this new mark, many investors perceive…

India is in an advantageous position amid global uncertainty. According to the Recession Probabilities Worldwide 2023 data, India has a 0% recession probability this year vs. 75% and 65% for…

"After hard work, the biggest determinant is being in the right place at the right time”, says Michael Bloomberg. In hindsight, it does seem like the perfect determinant for superior…

As a continuation of our "Future from the lenses of the Global CEO" series (link1, link2), we are providing insights into the perspectives of global CEOs regarding the future of…

The global macro environment has made investors nervous during the last few weeks. The recent US inflation data suggest that the monetary policy fight to tame inflation may be long-drawn,…

On both a one-year and five-year basis, India's mid-cap and small-cap indices have significantly underperformed their large-cap counterparts (refer Fig1) as investors sought shelter during the difficult times. Focus is…

The year 2022 has finally come to an end. S&P 500 was down almost 20% by the year's conclusion, and Nasdaq was down about 32%. Nifty 50, however, was up…

The AAA portfolio delivered robust sales and EBITDA growth during 2QFY23. The strong performance was due to a combination of factors – the right sectoral allocation as well as the…

During the last nine months, most investors' concerns are centered around the impact of rising inflation and surging interest rates on the equity market. As inflation spiked from 1% to…

European and American markets have broken the June lows. Fed continues to push hard on interest rates, with Jerome Powell declaring 4.5% as the terminal interest rate by next year.…

The average S&P500 company’s life duration has reduced from 90 years in 1935 to 18 years in the present, according to a Mckinsey study. The fast-changing dynamics make the world…

Inflation, higher interest rates and recession fears continue on D-street. However, every cloud has a silver lining. The famous investor, Howard Marks says “The consensus opinion of market participants is…

We are living through an unprecedented time in history, marked by geopolitical tensions, high inflation, fear of stagflation, highly volatile and unpredictable financial markets, and the end of a 40-year…

Corporate India 4QFY22 result season is over and we must say that Corporate India Inc delivered a reasonable satisfactory performance in challenging times. While India faced the third wave of…

In FY22, India hit a major milestone of merchandise exports of over USD400bn for the first time. This is a strong 44% higher than FY21 and a full 27% higher…

“Change is inevitable in life. You can either resist it and potentially get run over by it, or you can choose to cooperate with it, adapt with it, and learn…

Geopolitical tensions involving Russia and Ukraine have been a source of market volatility in recent weeks. As Russia is one of the largest commodity producers, any delay in resolving the…

The year 2022 has had a rocky start. Equity markets globally witnessed sharp sell-off. India also witnessed similar trends. The BSE-30 and Nifty-50 rose around 5% by January 17, only…

2021 was a winning year for Indian equity investors as Nifty rallied by ~24%, outperforming most emerging markets. Corporate India delivered robust earnings growth despite a severe second wave of…

"… favored business must have two characteristics: (1) an ability to increase prices rather easily without fear of significant loss of either market share or unit volume, and (2) an…

We have been bullish on Indian equity market as we believe that corporate India to deliver strong earnings growth. 2QFY22 results of corporate India, reconfirms our view on revival of…

During the last six months, as Sensex is making new lifetime high, the investors are increasingly getting concerned about the market valuations. The common perception is that liquidity is a…

In our September 2020 insights titled “Key Investment Themes to Capitalize on the Covid-19 Crisis”, we highlighted how companies at the forefront of automation and innovation would be the big…

"We’ve really made the money out of high-quality businesses. In some cases, we bought the whole business. And in some cases, we just bought a big block of stock. But…

FY21 was one of the most challenging years for corporate India as the world grappled with the pandemic. During the last financial year, each quarter had its own set of…

As the world is still recovering from the pandemic shock, Corporate India has faced another problem with rising global commodity prices. Today, several commodities are trading near their lifetime highs…

“Your success as an investor will be determined by how you respond to punctuated moments of terrors, not the years spent on cruise control” –by Morgan Housel in his book…

March 2021 will mark one year since the WHO declared Covid19 as a global pandemic, upending lives and livelihoods. The pace of disruption is accelerating at an unprecedented rate. As…

Early FY21, we mentioned three themes to play India’s economic recovery – 1. Acceleration of formalisation 2. China + 1 strategy and 3. Automation and Innovation (refer Key Investment Themes…

In our December 2020, AAA Insights, titled “2021: Embrace Optimism”, we had mentioned that the Indian economy is poised for faster growth as 1) the pain of structural reforms is behind…

From shock to a positive surprise... While pandemic Covid19 was the biggest shock to the world, discovering a vaccine in a record time of fewer than 12 months is a…

In our December 2020, AAA Insights, titled “2021: Embrace Optimism”, we had mentioned that the Indian economy is poised for faster growth as 1) the pain of structural reforms is behind…

Indian economy surprised positively contrary to extreme pessimism during the early days of Covid-19. The economy witnessed significant improvement in high-frequency data indicators like GST collection, diesel consumption, power consumption,…

During the last 3 years, we often got a question from the investors "Which Market cap category is expected to outperform? Large or Mid or Small?" Market-cap based allocation is…

The COVID-19 pandemic has upended daily life and disrupted traditional asset valuations, leaving investors of all stripes bewildered and questioning how to tide through this crisis intelligently. Recent market volatility…

FY20 was a challenging year for corporate India as pandemic hit the country in March. This usually being one of the best month resulted in a significant dent in corporate…

Global: Economic re-openings are leading to fears of a second wave of COVID-19 infections as several states in the U.S. are reporting rising. However, on the other hand, policy support…

Global: The Covid19 curve is being flattened in key countries - China, US, Japan, Germany, France - which are most important for global economy. For the first time, in Europe,…

Global: After the total doom in March, equity markets rallied 20%-30% from the lows. Unlike the previous bear markets when the response was delayed, this time the Central Bankers and…