Original analysis of Indian companies, sectors, and valuation questions. All work is authored, dated, and shows its sources.
TCS, Infosys and HCLTech sell similar services to similar clients. Put their numbers side by side, though, and their margins, returns on capital and cash conversion tell three different stories.
Seven high-profile Indian IPOs, three prices each: what allottees paid, what listing-day buyers paid, and what the shares were worth in October 2026. The results say a lot about chasing listing gains.
Paytm does not fit neatly next to a bank, a payments processor or a consumer internet company. When no single peer works, valuation has to be done in parts, and in reverse.
From the end of 2020 to the end of 2025, the Nifty 50 rose about 87%. That single number hides an uneven path, a big start-date effect and a very different result in dollars.
Asian Paints is one of India's most admired companies. That reputation is earned, but it can stop investors from asking what the price actually requires. This piece reads the numbers on their own.
Crude oil is India's single most important import. A change in its price travels through four channels: the current account, the rupee, inflation and the government's budget.
Monthly SIPs have become the steadiest buyer in Indian equities. That support works like a flywheel, and flywheels can spin both ways.
A small-cap stock's market value is based on the last small trade. When large funds try to sell at the same time, that price may not exist. This is an opinion piece on why part of the small-cap premium is not real.
The yield curve is a line linking interest rates across different maturities. Its shape is the market's summary of where rates, inflation and growth are heading.
"The rupee fell" is not one piece of news. For an IT exporter it is a tailwind, for an airline a cost shock, and for a company with dollar loans a balance sheet problem.