Co-founder & Managing Director, Marketnomix 

Rajan Govil

Co-founder & Managing Director

Marketnomix 

Macroeconomics

Index of Industrial Production (IIP) grew 0.1% y-o-y in March 2016 compared to a growth of 2% y-o-y in February 2016 as per official figures. After adjusting for one additional working day in February (there were 21 working days in February 2016 compared to 20 working days in February 2015), IIP in February had seen a decline of 2.9% y-o-y in February 2016. The latest reading for March thus continues to reflect weakness in industrial output. For the quarter ended March 2016, production grew by…

Index of Industrial Production (IIP) grew 0.1% y-o-y in March 2016 compared to a growth of 2% y-o-y in February 2016 as per official figures. After adjusting for one additional working day in February (there were 21 working days in February 2016 compared to 20 working days in February 2015), IIP in February had seen a decline of 2.9% y-o-y in February 2016. The latest reading for March thus continues to reflect weakness in industrial output. For the quarter ended March 2016, production grew by…

India: Manufacturing Output Remains Weak, Declining for Fifth Straight Month

Consumer Price Index (CPI) inflation increased to 5.4% y-o-y in April 2016 compared to a 4.8% y-o-y rise in March 2016. Inflation was driven higher mainly by price increases in food and transportation.Food prices increased 6.3% y-o-y in April 2016, compared to a 5.2% y-o-y rise in March 2016. The contribution of food prices to overall inflation increased from 2.4% in March 2016 to 2.9% in April 2016. This was largely due to a sharp jump in vegetable prices that increased 5.0% y-o-y in April…

Consumer Price Index (CPI) inflation increased to 5.4% y-o-y in April 2016 compared to a 4.8% y-o-y rise in March 2016. Inflation was driven higher mainly by price increases in food and transportation.Food prices increased 6.3% y-o-y in April 2016, compared to a 5.2% y-o-y rise in March 2016. The contribution of food prices to overall inflation increased from 2.4% in March 2016 to 2.9% in April 2016. This was largely due to a sharp jump in vegetable prices that increased 5.0% y-o-y in April…

India: Consumer Price Index Inflation Back Above 5.0%

<ul><li>Growth outlook remains tilted to the downside.</li><li>Vulnerability to fiscal shortfalls and external financing is rising.</li><li>Policy rates are likely to remain under downward pressure as also the overvalued rupee</li></ul>

Growth outlook remains tilted to the downside.Vulnerability to fiscal shortfalls and external financing is rising.Policy rates are likely to remain under downward pressure as also the overvalued rupee

Information Technology Consultant

Ishita Jain

Thematic (Sector/Industry)

On Feb 13th, 2016, "Make in India" week was flagged off in Mumbai. 5000 delegates from 190 companies based in 60 countries participated in the event and it was nothing short of a carnival celebrating the prospects of a brighter future for India’s manufacturing industry. This was the first of many events planned for Narendra Modi's flagship Make in India campaign launched in 2014. The initiative hopes to attract capital and technological investment to India and make it the top destination globally for foreign direct investment. Make in India is an exciting venture. In the following insight, I have given an overview of the initiative and stated some of the good things and some of the gaps around it. I am going to present more analysis as I discover more in the coming few days. Look out for the forks!

On Feb 13th, 2016, "Make in India" week was flagged off in Mumbai. 5000 delegates from 190 companies based in 60 countries participated in the event and it was nothing short of a carnival celebrating the prospects of a brighter future for India’s manufacturing industry. This was the first of many events planned for Narendra Modi's flagship Make in India campaign launched in 2014. The initiative hopes to attract capital and technological investment to India and make it the top destination globally for foreign direct investment. Make in India is an exciting venture. In the following insight, I have given an overview of the initiative and stated some of the good things and some of the gaps around it. I am going to present more analysis as I discover more in the coming few days. Look out for the forks!

Equity L/S Analyst | Forensic Accounting | India, Yellowstone Equity

Ankit Agrawal, CFA

Equity L/S Analyst | Forensic Accounting | India

Creating Wealth through Alpha and Compounding

Yellowstone Equity

Providing unbiased and independent research on Indian equities to global institutions and individual investors


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Regulatory Disclosure: 
Note that Ankit Agrawal (Proprietor of Yellowstone Equity) is a SEBI registered Research Analyst (Registration No.: INH000007216). Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

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Name: Ankit Agrawal
Email: services@yellowstoneequity.com
Mobile: +91-7575817289
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Equity Bottom-Up

<ul>
<li>Polycab is a high-quality wires/cables and FMEG brand, benefitting from growing domestic consumption and rising capex led by India gaining foothold in global manufacturing.</li>
<li>Its FMEG business is currently in nascent stage representing just 10-12% of revenues but is poised to scale up exponentially over the next 3 years.</li>
<li>Its Wires and Cables business, despite commanding a dominant 22%+ market share, has been gaining share and is benefitting from strong demand tailwinds, positioning it well for double-digit growth.</li>
</ul>


Polycab is a high-quality wires/cables and FMEG brand, benefitting from growing domestic consumption and rising capex led by India gaining foothold in global manufacturing.
Its FMEG business is currently in nascent stage representing just 10-12% of revenues but is poised to scale up exponentially over the next 3 years.
Its Wires and Cables business, despite commanding a dominant 22%+ market share, has been gaining share and is benefitting from strong demand tailwinds, positioning it well for double-digit growth.


2023 High Conviction | Polycab: A High Quality Play on Rise of India as a Manufacturing Hub

India

Schneider Electric Infrastructure Ltd. manufactures electricity power distribution and  secondary distribution equipment, and distribution transformers. The Company produces medium voltage  switchgears, distribution transformers and substation automation equipment.

Schneider Electric Infrastructure (SCHN IN)

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Schneider Electric Infrastructure (SCHN IN)

India: Manufacturing Output Remains Weak, Declining for Fifth Straight Month

Index of Industrial Production (IIP) grew 0.1% y-o-y in March 2016 compared to a growth of 2% y-o-y in February 2016 as per official figures. After...

Rajan Govil

India: Consumer Price Index Inflation Back Above 5.0%

Consumer Price Index (CPI) inflation increased to 5.4% y-o-y in April 2016 compared to a 4.8% y-o-y rise in March 2016. Inflation was driven higher...

Rajan Govil

Marketnomix Country Insights - INDIA

Growth outlook remains tilted to the downside. Vulnerability to fiscal shortfalls and external financing is rising. Policy rates are likely to...

Rajan Govil

Make in India – A Leap of Faith

On Feb 13th, 2016, "Make in India" week was flagged off in Mumbai. 5000 delegates from 190 companies based in 60 countries participated in the...

Ishita Jain

2023 High Conviction | Polycab: A High Quality Play on Rise of India as a Manufacturing Hub

Polycab is well-placed to see strong earnings growth over the next 3 years starting FY24. We project a 65%+ upside potential, bulk of which could...

Ankit Agrawal, CFA

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