Investment blog for the Indian markets
Mumbai
Joined March 2012
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alphaideas retweeted
Microsoft offering buyout packages to roughly 60,000 employees about 27% of its workforce.
Meanwhile microsoft's workforce
alphaideas retweeted
"Data is the oxygen of Digital Life, and oxygen must never be in short supply."
On 1 September 2016, Mukesh Ambani used these exact words as he announced free Jio 4G.
🇮🇳 That day, India:
- had under 1 in 3 Indians online
- paid ₹226 for 1 GB of data
- used under 1 GB a month
- had ~40 crore internet users
- had just 80 lakh 4G users
- ranked 155th in mobile broadband
🇮🇳 A decade later, India:
- has 2 in 3 Indians online
- has over 1 billion internet subscribers
- has 95.8 crore active internet users
- has 54.8 crore users in villages, 57% of all users
- has 55 crore 5G users
- pays ~₹7 for 1 GB of data
- uses 28 GB a month per user
- is YouTube’s #1 market, with 51.8 crore users
- is Instagram’s #1 market, with 48 crore users
- has 61% of users watching short videos
- spent 1.23 lakh crore hours on apps in 2025
- is ChatGPT’s #2 market, with 16 crore+ users
- has 44% of users using AI features
- creates 20% of the world’s data
- gets 13% of its GDP from digital
- and is growing its digital economy 2x faster than GDP
One truly incredible decade-long journey. 🇮🇳
alphaideas retweeted
Watch | Mukesh Ambani gets misty-eyed as Anant speaks about Reliance's journey at Jio Platforms IPO Listing Ceremony
alphaideas retweeted
Terror was met with courage. Courage was met with honour.
President Sheikh Mohamed bin Zayed embraces Captain Smit Machchhar, hero of flydubai Flight FZ1073, honoured with the Order of Zayed II.
In the UAE, bravery knows no nationality. Heroes are treated as heroes. 🇦🇪🇮🇳
alphaideas retweeted
A Chinese company uses civil unrest in France as an ad to promote the durability of its glass.
Readers added context they thought people might want to know
The video is news footage of French riots at an LV store filmed by journalist Clément Lanot of CLPRESS, not an ad by a Chinese company. Claims the glass is Chinese-made are unverified viral assertions.
unwire.hk/2026/10/21/par…
bloompakistan.com/chinese-blast-…
shopenauer.com/en/news/louis-…
alphaideas retweeted
5-7yrs from now, India will not be subject to the global Crude Oil blackmail game. 🛢🛢🛢
Just visited Adani’s 30 GW Khavda park in Kutch, billed as the world’s largest renewable plant. Still, it will potentially grow 10x in size from here. Battery, wind, solar.
World Class !!
alphaideas retweeted
The Risk Of Irrelevance !
Akash Prakash writes in the @bsindia
The good news before all the bad news - Akash believes all this data is more a contrarian indicator & not a reason to turn more negative on India.
Read on - from the column 👇
1. "At only 10%, we are half what we used to be and three countries — Taiwan, Korea and China — are 70% of the EM index. Do you really need to bother with India? Even getting India wrong will not really move the needle. Over the last 10 years, India has anyway underperformed the EM indices by about 180 basis points annually. Even on a 20-year basis, India has just marginally outperformed"
2. "Second, many investors have come to the conclusion that India may not deliver enough absolute returns. Their calculations are as follows: The Nifty index in rupees has delivered about 10.5% p.a. over the last 20 years. Assuming a capital gains tax impact of about 15%, this brings the return down to about 8.9%. Then, assuming a near 4% rupee depreciation (the average over the last 20 years), this brings the return down to about 6% in dollar terms"
3. "All allocators are upset about the capital gains tax. They do not pay these taxes in any other major jurisdiction. It drops projected long-term annualised returns by about 2% & that is a huge difference when comparing countries over long holding periods."
4. "India is also seen as the biggest global loser from artificial intelligence (AI), as our key advantages of demographics and a skilled white-collar workforce lose relevance in an AI-first world."
5. "India is also caught in a no-man's land, not cheap enough for value investors to pile in but not growing fast enough to attract growth investors either."
#Nifty #BankNifty #Trump #IranWar #Rupee #LTCG
alphaideas retweeted
The worst investment I did is buying a property of Godrej- big brand bigger, bigger fraud.
Bought a property in 2023, they told we will get possession in 2026 mid, forget the possession, they are telling they want to add additional floors and that too 8-9 floors, without adding any extra plot to the project.
From past 3 months the CRMs has bullied, disturbed, bribed and what not for us to sign the consent form to modify the RERA, as a person who works a full time job, this kind of harassment takes a toll on mental health, as now I am paying full EMI and possession not sure when they are going to give(maybe 2028(Rera date)), the constructions they have left in mid. For Phase1 owners also they are pushing the handover deadline.
This is so disappointing! and now I am stuck, so whenever you decide to buy a property in Godrej, think 100 times before.
alphaideas retweeted
Paid a visit to the historic Ateshgah fire temple in Baku.
A symbol of the historical and cultural connect between our two peoples.
🇮🇳 🇦🇿
alphaideas retweeted
Comparison across fund categories from peak of the market in 2024 till date…
Source: lnkd.in/p/deJiRbQ4
alphaideas retweeted
I totally agree with your point that there are times to take a break. We had such a phase ourselves, particularly in September and the first half of October. But I'm not sure now is the right time to step away.
Most retail traders, when faced with a strong capitulation phase, either stop watching the market altogether or start whining about it, blaming everything around them for the situation.
In reality, right now, and over the next two months, is precisely when you should be watching the market closely.
Almost all the older leaders have broken down. Apart from a few defensive, low-volatility stocks, there's hardly anything impressive showing up in persistent momentum scans.
But this won't last forever.
The current set of leaders will eventually be replaced by a new one. These stocks won't just participate in the recovery from here; many could go on to lead the next bull run or swing, whenever it arrives.
And I'm not saying this without historical evidence.
Many leaders of the 2020-21 bull market began their runs in August 2019, when the market was in terrible shape. Several had bottomed after October 10, 2018, during the climax of one of the worst sell-offs we had seen, triggered by the IL&FS crisis.
Similarly, many leaders of the 2023 bull market, including mega-themes such as shipbuilding, PSUs, and railways, began emerging within two to three months of June 20, another period of severe market weakness.
There's another important observation: many bull market leaders begin their journeys months before the broader market returns to its highs. By the time the market starts looking healthy again, these stocks may already be breaking out or making new all-time highs.
Take MTAR, which was in the limelight in April and May this year. It had already made its bottom in September 2025.
Don't lose focus amid the noise.
You may not have anything worth acting on immediately. That's fine. But the opportunities that will define the next market phase are likely to emerge during periods like these.
alphaideas retweeted
I think we should just stop taking western credit rating agencies seriously.
France credit rating Aa3.
India credit rating Baa3.
Moody’s puts France six notches above India.
Now look at the numbers:
•Debt/GDP: France ~116%. India ~85%.
•Nominal GDP growth: France ~2%. India ~8.9%.
France govt spending as % of GDP
60%
India govt spending as % of GDP
30%
India has less debt relative to its economy—and a much faster-growing nominal GDP base.
Yet it sits just one downgrade above junk.
The counterargument? France collects much more tax.
Fair. But today’s tax collection is not the same as tomorrow’s fiscal headroom.
France already collects 43.5% of GDP in taxes and compulsory social-security contributions. Exclude those contributions, and it is roughly 29%, versus approximately 18% in combined central and state taxes in India.
France has limited room to squeeze more from an already heavily taxed economy. India has greater scope to broaden its tax base as its economy formalises.That potential is not guaranteed. But it should not be ignored.
Institutions, income levels and borrowing costs matter. Nobody is arguing that credit ratings should depend on three numbers alone.
But six notches?
When a richer country’s weaknesses are treated as manageable, while a faster-growing country’s strengths are treated as insufficient, the methodology deserves scrutiny.
Is Moody’s measuring future repayment capacity—or giving too much credit to the past or it has just become irrelevant as a credit rating agency.
alphaideas retweeted
The stark difference!
Now visible even in their market cap.
Eternal - 292000 Cr
Swiggy - 53000 Cr
It’s the difference between BlinkIt and Instamart. Food is comparable for both, but in Qcomm, at 3X size, Blinkit is growing 2X in pace, and >600 bps higher contribution margin.
The gap is far beyond measure.
#Swiggy #Instamart #QComm
alphaideas retweeted
Zetwerk is among the first venture backed, manufacturing-focused tech platforms from India’s startup ecosystem to go public.
Kae Capital (along with affiliate Kalysta Capital) is the standout winner. It invested at an average cost of just Rs 3.94 a share.
At Zetwerk’s Rs 151 IPO price, that translates into a 38x return.
It has sold shares worth over Rs 253 crore, and will collectively hold 3.33% stake worth Rs 868 crore.
Other early investors have also done well.
Peak XV Partners: Making about 24x return. Sold shares worth Rs 266 crore and retaining a 7.1% stake worth ~Rs 1,849 crore.
Peak holds another 2.4% stake through late stage funds, and will make about 3x.
Accel India: Making 19x return, selling Rs 181 crore and retaining 6.2% stake worth Rs 1,611 crore.
Lightspeed India: About 11x return, selling Rs 175 crore and retaining 2.7% stake worth Rs 693 crore.
Lightspeed later funds hold 4.5% stake, and will make about 3x.
But the biggest institutional shareholder is taking a very different approach.
Greenoaks is not selling a single share in the IPO.
Across four entities, it owns nearly 20% pre-IPO, making it Zetwerk’s largest shareholder.
After dilution, Greenoaks will still own about 17.5%, worth roughly Rs 4,557 crore at the IPO price.
alphaideas retweeted
Warren Buffett: "In 1962, when I set up our office, I put seven items on the wall. Our art budget was $7. I went down to the library and, for $1 each, I made photocopies of [important newspaper] pages from financial history."
"Those seven days that I put up on the wall... Life in financial markets has got no relation to sigmas. If everybody that operated in financial markets had never had any concept of standard errors and so on, they would be a lot better off."
alphaideas retweeted
The GRU hacked into Jared Kushner's iPhone. Dutch military intelligence (MIVD) then recruited a GRU spy who gave them access to the hacked phone. What MIVD discovered was that Kushner had access to two bank accounts --one Azerbaijani, the other Israeli --where Saudi Crown Prince Mohammed bin Salman and Emirati ruler Mohammed bin Zayed deposited money. It sounds like a slightly far-fetched episode of "Slow Horses," but it's real. And it proves just how eye-poppingly corrupt this administration was and continues to be as its "special envoy" decides the fate of tens of millions in Europe in the Middle East. Simply incredible reporting by Matthew Cole, drawn from his new book on Kushner. vanityfair.com/story/jared-k…
alphaideas retweeted
John Cowperthwaite did more for human prosperity than any development economist drawing a government salary ever managed, and he did it by refusing to do almost anything at all.
As Hong Kong's Financial Secretary from 1961 to 1971, Cowperthwaite ran one of the most radically free economies the modern world has ever seen. He kept taxes flat and low (the top income tax rate sat at 15%), ran consistent budget surpluses, abolished import tariffs, and blocked nearly every subsidy request that crossed his desk. When British civil servants demanded economic statistics to justify intervention, he refused to collect them. Not out of laziness. He genuinely believed that giving planners numbers gave them excuses.
The results? In 1960, Hong Kong's per capita income stood at roughly 28% of Britain's. By 1997, Hong Kong had surpassed Britain. That trajectory happened without natural resources, without foreign aid, and without a single five-year plan drafted by well-intentioned economists from Oxford. Hong Kong had a harbor, people willing to work, and a bureaucrat with enough intellectual discipline to keep the state out of their way.
Capital flows toward secure property rights and reliable rules, and flees the moment politicians start allocating it. Every industry Beijing picked as a "priority sector" during those same decades burned through subsidies and produced junk. Hong Kong's industries emerged organically, serving real demand, building real wealth.
You benefit from this history whether you know it or not, because Hong Kong's success gave the world a controlled experiment that still embarrasses every advocate of managed development. The control group thrived. The planned economies didn't.
Cowperthwaite retired to St Andrews, received a knighthood, and gave almost no interviews. That restraint was entirely in character.
