2026 | High Conviction | SBI Cards & Payment Services (SBICARD IN) | Swimming Troubled Waters
​Q2 FY26 saw healthy spend growth but weak profitability due to yield compression, elevated credit costs, and high OpEx, limiting NIM and ROE...
221 Views
Swiggy (SWIGGY IN) QIP | Comparative Insights Vs. Eternal (ETERNAL IN) And Meituan (3690 HK)
​Swiggy and Eternal in heavy investment cycles for quick commerce, while Meituan faces delayed profitability and overseas losses, making it less...
258 Views
Meesho’s Valmo | Erosion of Delhivery’s Margins
​Delhivery faces volume erosion as Meesho migrates orders to Valmo, impacting revenue and creating pricing pressure in the 3PL market.
358 Views
Meesho IPO | Seller Operations and Nuances | India Internet Dynamics
​Meesho is a narrative of  profitable arbitrage in logistics and ad-tech, creating a moat in low-cost retail market. Primary downside risk due to...
327 Views
Bajaj Housing Finance (BHF IN) | Running to Stand Still
​Bajaj Housing Finance is priced for perfection in an imperfect and deteriorating environment, with a critical red flag being the elevated...
798 Views