Blogs

September 7, 2021

Investment in Holding company results in sub-par returns over listed subsidiaries, prime example being Bajaj Finserve which has grossly underperformed Bajaj Finance, its listed subsidiary by a wide margin

Bajaj Finserv is the holding company of Bajaj Finance, Bajaj Allianz General Insurance and Bajaj Allianz Lic Insurance. There subsidiary companies have been performing well with […]
September 7, 2021

AU Small Finance’s impressive track record on NPAs tainted due to recent spike in NPAs due to lockdown and stress in SMEs

AU Small Finance Bank is a mid sized micro finance NBFC carved out into a Bank. The transition from NBFC to Bank has been smooth and […]
September 7, 2021

Action Construction is in a sweet spot with decent pick up in construction activity post Covid pandemic; but valuations are fair

Action Construction is a leading material handling and construction equipment manufacturer with a 65 % market share in the cranes segment. Increased infra spend determines demand […]
September 7, 2021

Best in class performance at Aavas Financiers with low NPA yet steadily rising loan book make it attractive despite premium valuations

AAVAS provides housing loan to low and middle income segments in semi-urban and rural areas. These are credit worthy customers that lack financial inclusion because of […]
August 28, 2021

Voltas’ underlying long term fundamentals are good and should be able to ride through present challenges

Voltas is India’s largest air-conditioning company with a sizable projects and engineering products and services business. The long term growth potential of all air-conditioning division is […]
August 28, 2021

BEL provides a safe investment proposition given its earnings visibility due to strong and gradually increasing order book

BEL is India’s leading defence electronics manufacturing company with strong technology backbone. Its PSU status enables it to obtain large defence orders and places it at […]
August 28, 2021

Balkrishna is on a very strong wicket with global demand for OTR tyres picking up and backward integration to carbon black paying rich dividends

Balkrishna Tyres is India’s largest Off-the-Road / Highway tyre company with a Global market share of ~ 5.5 %. Revenues are largely from exports (EU + […]
August 28, 2021

Amber Industries’ long term prospects are excellent given industry fundamentals and increased focus of the government on self sufficiency through PLI scheme

Amber is a leading contract manufacturer for Air conditioners (AC) and AC Components. Most of the leading AC and Refrigerator companies are its clients. Performance in […]
August 28, 2021

Aggressive expansion plans at Aarti Industries to drive growth as normalcy returns post Covid and exports pick up

Aarti Industries is a predominantly benzene based chemical producer with a diversified product range for consuming industries viz. agrochemicals, pharma, paints and pigments. The company’s strength […]
August 28, 2021

Best in class performance at Whirlpool inspires confidence despite fair valuations

Whirlpool India, a subsidiary of US Whirlpool is a leading consumer appliance company with dominant position in refrigerators and growing market share in washing machines, ACs, […]