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We help our clients in medium to long term financial planning. Its not about selecting this fund or that stock and micro managing every month. Its about doing tactical asset allocation, building portfolio of different asset class and regular reviews.
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Henil Shah retweeted
484 of Nifty 500 Index companies have now reported Q1FY27 results.
Revenue +19.6%
PAT: +9.1%
PAT (ex OMCs): +17%
PAT margin: 10.4%
PAT margin (ex OMCs): +12.4% (close to record levels)
In Q1FY27,
Large Caps are similarly healthier underneath OMCs: +15.6% ex OMC PAT.
Mid Caps are not fundamentally weak. The headline -6.1% PAT is heavily distorted by HPCL. Ex OMCs, Mid Cap PAT is +16.6%.
Small Caps were the standout: +22.6% revenue, +37.1% PAT and 90 bps margin expansion.
A note on SmallCaps reporting +37% PAT growth
Small Cap PAT is up 37.1%, a ₹12,560 crore increase, but companies that were loss-making in Jun-25 contributed roughly ₹5,212 crore of the improvement, or 41.5% of the total. The biggest examples are JSW Cement (+₹1,520 Cr), MRPL (+₹1,216 Cr) and Chennai Petroleum (+₹1,072 Cr). Those three alone explain 30.3% of total Small Cap PAT growth. The top 5 PAT contributors account for about 42% of total PAT growth, and the top 10 about 61%.
Once the major distortions are removed, the underlying number is still strong, but closer to the mid-20s than 37%. Ex OMCs, Small Cap PAT growth falls to about 30.1%; ex commodities it is about 26.8%; excluding the three largest turnaround outliers it is about 24.7%; and restricting the comparison to companies profitable in both Jun-25 and Jun-26 gives 23.6% PAT growth with ~59 bps margin expansion.
ye hui naa baat😂
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Replying to @deepakshenoy
@deepakshenoy @Prateekonomics @CalmInvestor
I am analyzing flexi-cap fund. And notice that we are still 33% in cash.
What i want to understand is that this is some tactical bet due to market condition or we are going to manage it around this level ??
Wanted to hear your inputs.
2
143
Early sign of serious outperformance of microcap index against nifty. !!??
@moneyworks4u_fa @InvesysCapital @suru27
#indvsnzfinal
Why am I getting the feeling of 135000 cheering for New zealand today at the end... No matter what the result is.
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Everything put aside....
Lenskart is 25% above ipo issue price...
mutual fund houses ne to paise bana liye.
#lenskart
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Henil Shah retweeted
Market Breadth Data - Jan 2026
59% of the stocks are down more than 30% from their 52wk highs
Historical Data - % of stocks down >30% from 52-week high -
Mar 2009: 94%
Aug 2013: 64%
Aug 2019: 75%
May 2022: 57%
Mar 2023: 56%
Jan 2025: 61%
Jan 2026: 59%
Jan 2026 - Comparable to May 2022 and Mar 2023, Less severe than 2019 and Far from 2009 and 2013
The corrections are more deeper in small mktcap companies (<10k cr)
These are good times for long term smallcap investors who have holding periods of 1-4 years
Keep hunting !!
Henil Shah retweeted
Last one on this topic, and I have been holding this in myself for a while.
For centuries, class divides kept the labor of the poor invisible to the rich. Factory workers toiled behind walls, farmers in distant fields, domestic help in backrooms. The wealthy consumed the fruits of that labor without ever seeing the faces or the fatigue behind it. No direct encounter, no personal guilt.
The gig economy shattered that invisibility, at unprecedented scale.
Suddenly, the poor aren't hidden away. They're at your doorstep: the delivery partner handing over your ₹1000+ biryani, late-night groceries, or quick-commerce essentials. You see them in the rain, heat, traffic, often on borrowed bikes, working 8–10 hours for earnings that give them sustenance. You see their exhaustion, their polite smile masking frustration with life in general.
This is the first time in history at this scale that the working class and consuming class interact face-to-face, transaction after transaction. And that discomfort with our own selves is why we are uncomfortable about the gig economy. We want these people to look our part, so that the guilt we feel while taking orders from them feels less.
We aren't just debating economics. We are confronting guilt. That ₹800 order might equal their entire day's earnings after fuel, bike rent, and app cuts. We tip awkwardly, or avoid eye contact, because the inequality is no longer abstract. It's personal.
Pre-gig era, the rich could enjoy luxury without moral discomfort. Labor was out of sight. Now, every doorbell ring is a reminder of systemic inequality. That's why debates explode. It's not just policy. It's emotional reckoning. Some defend the system (“they choose it”), others demand change (“this isn't progress, its exploitation”).
And here’s the uncomfortable twist: the unsaid ask of clumsy ‘solutions’ isn’t dignity. It is about returning to invisibility.
Ban gig work and you don’t solve inequality. You remove livelihoods. These jobs don’t magically reappear as formal, protected employment the next day. They disappear, or they get pushed back into the informal economy where there are even fewer protections and even less accountability. Over-regulate it until the model breaks, and you achieve the same outcome through paperwork instead of slogans: the work evaporates, prices rise, demand collapses, and the people we claim to protect are the first to lose income.
And then what happens?
The rich get their old comfort back. Convenience returns without faces. Guilt dissolves. We go back to clean abstractions and moral posturing from a distance. The poor don’t become safer, they become invisible again: back in cash economies, back in backrooms, back in shadows where regulation rarely reaches and dignity isn’t even debated.
The gig economy just exposed the reality of inequality to the people who previously had the luxury of not seeing it. The doorbell is not the problem. The question is what we do after opening the door.
Visibility is the price of progress. We can either use this discomfort to build something better (which we keep doing continuously as delivery partners are our backbone), or we can ban and over-regulate our way back into ignorance. One of those choices improves lives. The other simply helps the consuming class feel virtuous in the dark.
Henil Shah retweeted
All the people talking about reduction or exemption of long term capital gains tax.... see this.
The total LTCG in AY 23-24 was Rs 858,022 crores.
80% Out of this ie Rs 690,370 crores was earned by people having more than Rs 5 crores returned income!
So 80% of the long term capital gains is earned by people with income above Rs 5 crores (not wealth. Income!)
That becomes 90% at RS 772,544 crores for people with income above Rs 50 Lakhs!
Less than 5% of the total LTCG (Rs 39,870 crores) is earned by people with income below Rs 10 Lakhs!!!!!
In short the point is LTGC is being paid really by the rich and the super rich. Dont get confused and make it a "common man" or "middle class" issue.















