Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Pranav Bhavsar & the team at India Independent Insight (Iii), provide research on consumer companies operating or have exposure to in India. The research methodology focuses on carrying out on-the-ground channel surveillance/checks that include supplier/distributor/customer interactions, access to industry experts, and bespoke primary data sources that aid in providing unique insights and counter consensus ideas.  

Leveraging the team's forensic analysis along with channel surveillance, the team at Iii also aids investors in early identification of changing consumer trends, identification and quantification of accounting/governance risks, and the associated impact on the business model of the company.

Pranav has over 15 years of experience in the Indian equity market, and has worked with some of the global activists, long only and PE funds for their India projects. Prior roles also include building and leading an institutional sell-side desk. In his free time, Pranav is a traveler, biker, and a young Indian contributing to the country’s social and economic development.

Consumer Analyst / Channel Surveillance Specialist

Smartkarma Webinar | ITC: Can It Re-Rate?

AGM Diaries | ITC - Some Things Never Change

ITC: Will Growth in FMCG Business Lead to Re-Rating?

ITC vs HUVR: transitioning from tobacco, ESG angles, shifting profitability

Tobacco Sector: Best of India and Indonesia

HUVR Vs ITC | The Dancing Elephant and the Ostrich

ASA Capital Management

ASA Capital Management is a boutique Research and Investment Advisory firm focusing on primary research in India. ASA provides bespoke research services to Institutional Clients with a focus on due diligence backed with primary research, Field Trips & Channel Checks.

Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/itc-ltd" target="_blank" data-smartkarma-citation="entities:327:1" rel="noopener">ITC Ltd (ITC IN)</a> 's recent share price performance has been disappointing on all counts. The increase in Dividend Payout further re-iterates our view of ITC finding it a challenge to invest in other businesses, and therefore valuations now reflect that of global tobacco companies.  At current prices, the downside may be limited, but a Re-rating is unlikely. </p>
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<p><em>This Insight is labelled bearish, as we do not see any major PE Re-rating in the near term. </em></p>
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ITC Ltd (ITC IN) 's recent share price performance has been disappointing on all counts. The increase in Dividend Payout further re-iterates our view of ITC finding it a challenge to invest in other businesses, and therefore valuations now reflect that of global tobacco companies.  At current prices, the downside may be limited, but a Re-rating is unlikely. 

This Insight is labelled bearish, as we do not see any major PE Re-rating in the near term. 


ITC IN | No Catalyst for PE Re-Rating in the Near Term