Sriram Somayajula

Today's Headlines from : *Economic Times* 📝 3,638 FDI proposals cleared in sensitive sectors since 2019 📝 NARCL ups offer for Jaiprakash Associates debt to Rs 12,000 crore 📝 Festivals take e-toll collections to a record ₹6,000 crore in October 📝 Railways switches to fast track for Kavach rollout 📝 India tops global diabetes list with 212 million cases in 2022: Lancet Study 📝 Nokia to roll out 3,300 new 4G sites by March for Vi expansion 📝 Morgan Stanley, 2 others pick 6.8 pc stake in PNB Housing Fin for Rs 1,664 crore 📝 Nalco Q2 Results: Profit rises multi-fold to Rs 1,046 crore; Rs 4 per share dividend announced 📝 NBCC Q2 Results: Profit jumps 53% to Rs 125.13 crore 📝 Kalpataru Projects International bags orders worth Rs 2,273 crore 📝 Ecommerce AI startup BiteSpeed raised USD 3.5 million 📝 SaaS startup Zeplyn raises $3 million from Leo Capital, others 📝 Space startup Firefly valued at over $2 billion in latest funding round *Business Standard* 📝 Brigade Enterprises Q2FY25 results: Reports 46% increase in sales value 📝 Marriott International, Samhi Hotels ink pact to open 3 properties in India 📝 India's Adani Group to invest $10 billion in US energy following Trump win 📝 Dilip Buildcon Q2 results: Net profit rises threefold to Rs 235 crore 📝 ONGC to soon open 5 wells in KG basin to boost gas, crude output in H2FY25 📝 NCLAT directs IL&FS to complete resolution of remaining firms by March 31 📝 ICAI to knock on MCA door against proposed audit standard revision 📝 India's outward FDI rises to $3.7 billion in October 2024: RBI data 📝 Mkt regulator Sebi mulls action for lapses in Artificial intelligence usage 📝 Festive season stabilises PV sales, 2Ws jump 14%; over 393K vehicles sold *Financial Express* 📝 Economists revise FY25 CPI inflation estimates to 4.7-5 per cent 📝 IN-SPACe taps DoT to cut spectrum price for Spacetech startups 📝 Eicher Motors Q2 profit rises 8 per cent to Rs 1,100 crore 📝 Power ministry readies interest subvention scheme for MSMEs 📝 Karnataka to organise venture capital connect with $17 billion investment potential 📝 IPO-bound NTPC Green plans to invest Rs 1 lakh crore by FY27 📝 Indebtedness of states expected to remain rangebound at 31-32% this fiscal, says CRISIL *Mint* 📝 US October inflation rises 2.6% YoY in first annual acceleration since March 📝 UN to come up with solutions to support countries cope with extreme heat 📝 BII, Norfund, IndiGrid form $300 million business for battery storage 📝 AstraZeneca Q2 net profit declines 10%, revenue up 31% 📝 Torrent Power Q2 Results: Net profit falls 8.6% YoY to ₹496 crore 📝 RBI retains SBI, HDFC, ICICI as India's too-big-to-fail banks 📝 Prosus offers to invest $100 million in Mintifi Finserve at unicorn valuation

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*Economic Times* 📝 IHCL acquires majority shareholding in operating company of Tree of Life 📝 Company registrations on downhill trek, down 22% in October 📝 Swiggy raises Rs 5,085 crore from anchor investors ahead of IPO launch 📝 Govt to sell up to 2.5% stake in Hindustan Zinc through OFS 📝 Salesforce India FY24 profit jumps 40% to Rs 888 crore 📝 GAIL Q2 Results: Profit rises 11% to Rs 2,672 crore, revenue up 3.5% 📝 NBCC secures Rs 500 cr contract from BIS 📝 India, Kazakhstan to set up a JV in critical minerals sector 📝 Marut Drones raises $6.2 million from Lok Capital 📝 QubeHealth raises pre-series A funding from UIV, CanBank 📝 Deep-tech startup CastNX raises ₹ 23.22 cr from Arpit Khandelwal 📝 Wealth fund INA and VC firm Granite plan to invest $1.2 billion in Indonesia tech *Business Standard* 📝 L&T to acquire 21% stake in E2E Networks in two-part Rs 1,406 crore deal 📝 Manappuram Finance Q2 results: PAT up 2% at Rs 571 cr on gold loan boost 📝 Will launch 3 biosimilars globally in 2-3 years: Biocon Biologics CEO & MD 📝 Shriram General Insurance eyes listing in 3 years, Q2 net profit up 17% 📝 Oil India Q2 results: Net profit rises multi-fold to Rs 2,016 crore 📝 Fidelity increases IPO-bound Lenskart valuation by 12% to $5.6 billion 📝 Apollo Green Energy prepares for IPO, eyes Rs 10,000 cr portfolio by 2025 📝 CBDT allows tax officials to waive or reduce interest due from taxpayers 📝 Bharat Connect clocks Rs 1 trillion in transaction value in October 📝 India joins race to host 2036 Olympics with formal letter of intent to IOC 📝 India's domestic air tariff up 43% in 5 years, just behind Vietnam *Financial Express* 📝 Morgan Stanley opens new GCC in Mumbai 📝 Udaan’s growth stalls, losses down 19 per cent in FY24 📝 Energy demand in India to jump 35 per cent, power capacity triple by 2035 📝 Vanguard cuts Ola’s valuation to $2 billion 📝 Kharif output seen up 5.4 per cent, to boost rural income *Mint* 📝 US yields mixed as election risks rise after solid 10-year note auction 📝 L&T boosts AI, data centre ambitions with E2E Networks deal 📝 US trade deficit widens to over two year-high in September 2024 on import boost 📝 Dr. Reddy’s to expand GLP-1 portfolio eyeing obesity and diabetes drug markets 📝 DCGI frames rules for imported cosmetics 📝 JSW Steel and Korean steel-maker eye $7.7 billion investment in Odisha plant 📝 Titan Q2 Results: Net profit falls 23% to ₹704 crore; revenue rises 25.8% YoY 📝 NMDC board to consider bonus issue for first time in 16 years on November 11 📝 Muthoottu Mini Financiers launches NCD issue to raise ₹150 crore 📝 UN report calls for trillions in climate finance to aid developing countries

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*News Headlines from Business News Agencies:* *Business Standard* 📝 P&G Hygiene net profit rises marginally to Rs 212 crore in Sep quarter 📝 Brics+ share in merchandise exports can overtake G7 by 2026: EY India 📝 IBBI, IBA to launch centralised platform for asset liquidation auctions 📝 Quick commerce led to closure of 200,000 kirana stores: Retailers' body 📝 Indian smartphone market value surges 12% in Q3 CY2024: Counterpoint 📝 SaaS firm Virtual Galaxy Infotech files draft IPO papers with NSE Emerge 📝 EFC REIT obtains Sebi registration to launch SM-REIT public issue 📝 Fastag collections on national highways estimated at Rs 72,500 crore 📝 Gold demand surpasses $100 billion globally as western investors rush in 📝 Petrol pump dealer commission raised, retail prices remain unchanged 📝 Govt mulls measures to boost strategic foreign investment from 5-year lows 📝 Revenue from Mumbai's property registrations in Oct rises 52%: Report *Economic Times* 📝 India's April-September fiscal deficit at Rs 4.75 lakh crore, narrows on-year to 29.4% of FY25 aim 📝 Dabur to acquire ayurvedic product maker Sesa Care for Rs 315-325 cr 📝 India's core sectors' growth increases 2% in September 📝 Airtel to move to 5G SA mode in 3-4 years 📝 India's gold imports jump 21.78 pc to USD 27 bn in Apr-Sep 📝 Patel Engineering offloads remaining 9.99% equity stake in Welspun Michigan Engineers 📝 Ola Electric boosts service capacity by 30 pc; adds over 50 centres, 500 technicians 📝 Piyush Goyal meets Schneider Electric CEO in Riyadh; discusses firm's investment plans for India 📝 Reliance Jio leads global mobile data traffic for third consecutive quarter, riding on 5G growth 📝 BLive EZY deploys 1,000 premium EVs to cater to festive demand 📝 Biocon Biologics' Bengaluru unit classified as voluntary action indicated by USFDA *Mint* 📝 Indoco Remedies Gets Final US FDA ANDA Nod for Varenicline Tablets 📝 Suzuki to supply new BEV model to Toyota as both companies expand partnership 📝 IndiGo Airlines has launched the BluChip loyalty program 📝 Govt plans to make onion transport by railways the norm to moderate prices 📝 GitHub's Thomas Dohmke praises India for fastest growing developer community 📝 Shreya Life Sciences sells high-end Nvidia chips to Russia, West's concern rises 📝 Bitcoin teases record high near $74,000, ETF inflow continues 📝 Dabur expands haircare portfolio with Sesa Care acquisition 📝 NCLAT asks Axis Bank, Siti Network creditors to hold ₹143 cr in separate account 📝 Meesho posts higher FY24 revenue driven by spike in user base 📝 India's iPhone exports soar by one-third in six months leading up to September 📝 Cap gemini trims 2024 revenue target again as soft markets hit Q3 sales

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Advent International is investing INR 2475 cr (~$3bn) in Apollo Hospitals's subsidiary, Apollo HealthCo. The transaction will also see the merger of its wholesale pharma distribution unit Keimed Private Limited and online healthcare business Apollo 24|7 under Apollo HealthCo. The background: Apollo HealthCo= Keimed (B2B pharma distribution) + Apollo 24 7 (online pharma) Apollo HealthCo, the digital health and services business of Apollo Hospitals, has been pressuring the hospital operator's bottom line, hurt by its cash-guzzling pharmacy business Apollo 24/7. Apollo HealthCo posted a loss for the sixth straight quarter in February. Advent International is a global PE with 17 investments (~$5.8bn since 2009) in India (12 current, 5 exits). Its other Indian healthcare investments include Cohance Lifesciences, Suven Pharmaceuticals and Bharat Serums and Vaccines Limited. Is it a good deal? The market doesn't think so! Shares of Apollo Hospitals Enterprise dropped 8% in opening trade on Apr 29 as investors were disappointed with the valuations offered in the deal. According to the deal, it valued Apollo 24 7 at $1.7bn and Keimed at $9.6bn Nuvama Group said while the deal was long overdue, the valuation commanded by Apollo 24/7 at $1.7 bn is lower than the estimated $2.7 bn. It not only comes as a negative surprise but also a huge letdown. The brokerage also said doubling Keimed's valuation for the deal, just within a year also seemed aggressive. Jefferies also shared the same view on Apollo 24 7's valuation While Prabhudas Lilladher Private Limited also acknowledged that the stake sale of Apollo HealthCo was done at a discounted valuation, it sees the merger of Keimed with the arm as a positive step as it removes overhang of any cost leakages. That with the added management guidance of growing EBITDA gives them comfort Future Outlook: According to the management commentary, the combined entity is expected to deliver Rs 25,000 ($3bn) crore of revenue in 3 yrs with 7-8% EBITDA, up from around Rs 13,600 crore and 1.5% now. This is an EBITDA growth of about 9x in 3 years! This growth will be achieved through Apollo 24/7 breakeven in ~2 years, higher margin realization through supply chain efficiencies, and accelerated growth in the private label business Though pharmacies in India are growing at 12% YoY, Apollo believes that large players like themselves can easily grow at 20-25% YoY It seems that Apollo was a bit desperate to inject in money and was okay with taking a slightly below-par deal. That said, this deal should reduce the drag from 24/7's operating cost (and cash burn) and strengthen both its pharmacy and hospital businesses. The merged entity could also leverage Keimed’s over 70,000 store network to push private label sales and unlock synergies. #healthcare #apollo #advent #privateequity #india #apollo247 #pharma #pharmacy

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Impact of Exit poll and Election result on Stock Market 📈 Condition 1- Exit Poll BJP ❌ Actual Result BJP ✅ Market down then on the day of result, Market Boom 💥 Condition -2 Exit Poll BJP ✅ Actual Result BJP ✅ Market Up then on the day of result, Market Boom 💥 Condition-3 Exit Poll BJP Not in Majority 🌀 Actual Result BJP not in majority 🌀 Market Correct ( 5-10 ) percent then back to Up Condition-4 Exit Poll BJP❌ Actual Result BJP ❌ Market Correction deep down (15-20) percent Its my view for market what’s your view ? #finance #sharemarket #Indianstockmarket #financialadvisor #hiring #wealth #nse #bse Ankur Warikoo Akshat Shrivastava #election Groww Zerodha

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*News Headlines from Business News Agencies:* *Business Standard* 📝 Oil buyers, producers dialogue needed for market stability: Hardeep Puri 📝 India's semiconductor design sector booms despite Q2 hiring dip: Report 📝 Taj Gvk Hotels Q3 PAT jumps 39% YoY to Rs 17 crore 📝 SAT Televenture to acquire Tikona Infinet for Rs 669 cr in cash, stock deal 📝 Sebi allows MFs to invest in foreign funds with Indian securities exposure 📝 Kotak Alternate Asset Managers to raise Rs 1,600 cr via healthcare PE fund 📝 Coal Minister urges CIL to boost production and reduce import reliance 📝 TechEagle launches eight drone hubs with healthcare partners across India 📝 Fitch affirms IIFL Finance's rating after RBI lifts ban on gold-loan biz 📝 October weather did not favour Ukraine's winter crops: Scientists 📝 Exide Industries Q2 result: PAT falls 13.66% to Rs 233.4 cr on higher costs 📝 UAE opens its annual oil-and-gas summit, pledges to increase output *Economic Times* 📝 CIL should prioritise augmenting coal production, supplies to reduce import: Minister 📝 Aptus has appointed Atul Jain as Managing Director and Chief Executive 📝 China's Haier Group plans JV with JSW Group envisaging Rs 1K cr investment 📝 BFSI office leasing continues to surge as digital growth points to new record in 2024 📝 India to emerge as a Global South leader in AI global governance: Abhishek Singh 📝 India re-elected as President of International Solar Alliance till 2026 📝 Bajaj auto domestic 2-wheelers sales dropped 8 pc in Oct (YoY), exports surge 22 pc 📝 Ashok Leyland total sales fell 9% to 15,310 units in Oct 📝 Bangladesh fast tracks payment to Adani Power after supply cut 📝 Welspun Corp gets Rs 1,300 cr pipe supply order in US 📝 India to revamp power demand forecasting for better planning 📝 Crystal Crop acquires I&B Seeds to expand vegetable, flower seed business *Mint* 📝 RBI likely selling dollars to support rupee amid equity outflows: Report 📝 IRFC Q2 Results: Net profit rises 4% YoY to ₹1,613 crore, revenue up 2% 📝 Indian rupee touches all-time low due to equity outflows from domestic market 📝 Lulu Retail Holdings expects to raise $1.43 billion from its Abu Dhabi IPO 📝 DLF’s New ‘Ultra-Luxury’ Project to Have the Costliest Apartments in India 📝 Reliance Jio IPO may hit Indian market in 2025: Report 📝 NBFCs brace for slower growth as asset stress, fund costs pinch 📝 Skillmatics likely to go for India listing in 3 years: CEO Dhvanil Sheth 📝 SBI Mutual Fund average AUM surges to record ₹11 lakh crore in Q2 📝 Bosch to cut over 7,000 jobs as it lowers growth forecast for 2024 📝 InCred plans insurance, mutual fund arms as it seeks to diversify offerings

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Pleased to share our 2024 edition of the KNAV India Valuation Guide. A great resource for industry level multiples and ratios. Do feel free to reach out to us if you have any questions! Discover the guide now and deepen your valuation expertise - https://lnkd.in/dMHs9hfa KNAV India Anand Shah #valuations

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Real talking about sector specialism: ‘ follow the team over time’. Can PE return returns in tough markets: consistent sector game, fundamentaks and exit discipline. Investment Committees probe heavily team on exit. Secondary opportunities finding a way to the top. Strategic appetites are increasing too. #pei2024 #privateequity #mergers

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To VC or not I came across two separate notes yesterday. One where Zomato and PolicyBazaar (InfoEdge is the common and largest investor) topped the charts on the market cap of all the 20-30 tech IPOs in the last few years. And the second about 65% IRR growth of Rohit and Kunal's investment. It got me thinking of operating entrepreneurs are yielding impressive returns compared to regular VC's Most first time founders get lured into raising VC funding as they get instant recognition from their social circle. But they suffer unimaginably. 1. The day they raise VC funding they cease to be an entrepreneur but a glorified CEO/senior exec working over time and severely under compensated. 2. Most VC's don't like founders to take enough salary (barely to make ends meet) and they don't like them to sell shares till they get an exit. I meet so many first time founders who are proud of this act of sacrifice hoping for a glorious victory at the end of it all. Their first time romance of entrepreneurship and gullibility gets exploited by VC's who misguide them at times to go without salaries/comp leaving them torn between family care and business priorities. 3. VC's like to invest in high growth, strong businesses with low risk(ideally, showing signs of profitability already) but as soon as they invest, they want the company to grow 100X continuously citing examples from the silicon valley of that one company which did amazing. They only care about the "power law" which is even 2-3 of their 10 investments work, they make enough but in that process the poor first time founder gives the best years of his life to the startup in vain as unwinding from this mindless experimentation and growth is nearly impossible 4. VC's celebrate Job's brashness or Travis's aggression and calls you a weak or a soft founder if you grow and manage business sensibly without undue aggression. They steadily try to influence your character and personality through stories of inspiration of "aggressors" but the moment you get there, ditch you for your insolence. 5. VC's don't bring any operating experience but have high conviction coming from their gut experience and reading a book or two on silicon valley startups. The reality of India dawns on to them after 10-20 years of investing and by that time, several founders have wasted their most productive years getting misguided by the intuition and gut feelings of the inexperienced VC's What's the solution - 1. There are some ideas that need VC capital and some don't - anything that required deep tech, strong network effects (mobility), research need VC capital. 2. Good businesses (so already existing business models getting improved by tech/AI etc) should not need too much VC capital. They should treat VC capital as an expensive debt and don't get influenced by VC's too much (discipline is key here). Example - D2C, or SAAS, or Edtech or Traveltech or such.

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Today's Headlines from : *Economic Times* 📝 ICAI lens on big four affiliates over their association with global entities 📝 Hindustan Unilever set to focus on bigger brands to chase volumes 📝 Banks fail to meet RBI mandate on CRR multiple times 📝 RCap lenders put Hinduja Group arm on deadline 📝 Cash in circulation more than doubles since FY17 on consumption demand 📝 China's share in India's industrial goods imports jump to 30% from 21% in last 15 years: GTRI 📝 '448 Infra projects hit by cost overrun of Rs 5.55 lakh cr in Oct-Dec' 📝 Dubai plans to move its busy international airport to a $35 billion new facility within 10 years 📝 Himadri Speciality to invest Rs 220cr in Bengal to expand speciality carbon black capacity 📝 NCLT OKs Macrotech Developers' acquisition of Centaur Hotel owner’s V Hotels 📝 Brookfield plans $10 bn investment in Indian realty, double portfolio in 3-5 years *Business Standard* 📝 Private investment push: 200 more Gati Shakti terminals on the cards 📝 Vi FPO rings in vigour for telecom sector, may reduce subscriber loss 📝 Apollo Hospitals lines up Rs 3,000 crore investment post Advent deal 📝 CII asks startups to keep their valuations 'as realistic as possible' 📝 AdaniConneX secures $1.4 bn to power its digital eco-friendly plans 📝 L&T Finance plans to increase short term, ECB fundraise in FY25 📝 InGovern raises concern over Triveni Engineering's stake buy in Sir Shadi 📝 Pension scheme for unorganised sector logs 5 mn subscribers in 5 years 📝 AU Small Finance Bank to double balance sheet to Rs 2.5 trn in 3 yrs: MD 📝 Banks may have to slow down loan growth in FY25: S&P Global Ratings 📝 India takes top rank in world artificial intelligence race, shows data *Financial Express* 📝 Minority shareholders file suit against ICICI Securities over delisting plan 📝 Tata Steel CEO raises concerns on rising steel imports, says need to be watchful 📝 HealthifyMe slims workforce by 30% amid global push 📝 Drone use for farming gets a big boost, to more than double by fiscal-end 📝 Concentrix launches sustainability campaign 📝 Target over 30% deposit growth in FY25: IDFC First Bank’s CEO *Mint* 📝 Avoid enrolling foreign nationals in online programmes: UGC tells HEIs 📝 Bengaluru marks hottest day in nearly a decade 📝 MFs plan to oppose Embassy REIT's proposal to raise ₹3,000 crore 📝 Centre to crackdown on tur and urad dal hoarders amid soaring prices 📝 ICMR institutes to take on broader role in healthcare 📝 Q4 results so far: Total revenue up 16%, bottomline rises 9.3% 📝 After US, India to sign 6G co-operation agreement with European body

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Was nice to share some thoughts with Akshata Gorde and Financial Express (India) on SEBIs new proposed fixed price mechanism as an alternative to reverse book building for voluntary delisting schemes. Read on to know more: https://lnkd.in/g25YCj_D #SEBI #delisting #law

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Should we curb speculations in markets??? When you login to your trading account, you get greeted by SEBI’s message on risk of derivatives. Few months back there was enthusiasm from SEBI on how to protect investors from potential losses in small & mid cap schemes of MFs. Not to be left behind, RBI started enforcing old regulations in the currency derivatives. This brings to a question to mind. Can we really stop speculators? Everyone agrees that speculators are important in financial markets for liquidity and hence better price discovery for hedgers. Without speculators hedgers will have to pay much higher prices. To its credit, regulators are not against speculators. They just don’t want small investors to speculate (It’s another matter and for the right reason that they don’t want Indian institutions to be speculators, after all they are holding public money in trust). So, are small investors are right in engaging in these speculative activities rather than long term investing? And more importantly can/should regulators play role in stopping this? Traditional wisdom suggests that small investor should not engage in speculative investments or option writing because of the risks involved. But as behaviour science economist will suggest, human beings are not rationale and one person’s irrationality can be other person’s rationality. Human beings are programmed to make supposedly irrational decisions. Why should someone risk his life climbing Everest or sailing around the world in small boat? Whether it is greed, rationality/irrationality, risk seeking behavior or any other reason, it is a human nature. Classical economic theory suggests, investors are risk averse – which is true for most people but not everyone. So, if speculation stems from deep routed behavioural instinct can it be stopped by regulators? I would certainly not believe so. Regulators can however make these routes difficult or close them which will only drive the speculators to find other things to bet on. This is also the reason why crypto and money gaming has much larger investor base than MF and demat accounts in India. Driving away small investors does not reduce the potential losses for these investors, it only shifts the reason of possible losses. While investors may still have those risks but hedgers in the financial markets stops getting benefit from these risk takers leading to overall loss for the economy. No, I don’t suggest we encourage speculation. But I think we just leave it to the best judgement of the individual investors, large or small. Apart from the philosophy of ‘its my life/money’, mistakes are part of learning. Most players in this segment are young individuals. However large losses it may feel at the moment, if correct lessons are learnt from these mistakes it would make them better investors when stakes are actually high. No book can teach us better than our own experiences. #investing #equitymarkets #derivatives #trading

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It seems that every other day we hear of Private Equity taking control of a company in India, especially in the Healthcare Sector, which has been on their cards for long - both Single and Multi Specialty. 💊 🏥 Multi Specialty: - Manipal Hospital - Temasek - KIMS Health - Blackstone - Max Hospitals - KKR - Apollo Hospitals - Advent 👨‍⚕️ Single Specialty: - Indira IVF - Baring PE - Baby Memorial Hospital - KKR - Dr. Agarwal's Health Care - Temasek and TPG And many more like Nephroplus, Cloudnine, Motherhood Hospitals, Sahyadri Hospitals, Ujala Cygnus, etc. Opportunity for PE? 📈 Well, they have identified a gap in the Healthcare sector - India’s Healthcare sector has a lot of potential with a population of 1.4 billion people and rising awareness post-COVID. Yet, the number of beds per 1,000 patients is only 0.6 as of 2021 (National Health Profile 2021) as compared to the WHO recommended 3 beds per 1,000 patients. This shortfall is seen as a lucrative opportunity. Outlook for Hospitals and India? 🏨 Expansion and Innovation - PE brings in expertise and capital which leads to quick expansion across geographies and service offerings leading to growth in the sector and better access to healthcare for Indians. 💲 Future Outlook - At the end of the day, PEs are here to make a quick buck and exit in a few years, so the future outlook looks bleak as patient care and satisfaction may not be their top priority. ⁉️There are numerous failed PE Healthcare stories in Europe and the USA. We hope that's not how it turns out here in India too, but only time will tell. 🤔 What do you think? Inspired by Finshots 🥇

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A significant milestone on the Sarvagram journey and we are very excited to continue our support to the stellar team. When we invested in 2022, we saw a distinctive company which was serving an unaddressed segment in a very large market i.e middle class households in rural India. The narrative around rural financing has primarily focused on farmers and low-income populations. However, there's a huge gap in addressing the needs of the aspirational rural middle class—the 80-100 million households with annual incomes ranging from ₹3-5L, spread across multiple income sources. This demographic is eager to improve both their income levels and quality of life, yet their financial needs have often gone unmet. Banks and microfinance institutions have targeted agriculture or low-income women but the rural middle class is a large whitespace. Though they may have access to product financing like two-wheeler or car loans, a significant portion of their aspirations remains unaddressed. SarvaGram is stepping into this gap with a holistic, customer-centric platform that offers a diverse range of financial services—from lending products and farm mechanization solutions to insurance offerings — as opposed to a mono-line strategy, which we believe works better in denser urban markets. In addition to our thesis on rural lending, we have found working with the stellar team, led by Utpal Isser and Sameer Mishra, a collaborative and insightful partnership. Their exceptional execution and understanding of the rural market have enabled SarvaGram to create lasting impact and drive sustainable growth. It has been equally enjoyable to learn from their experiences and we truly appreciate the openness of team. We have also appreciated working with our co-passengers from #Elevar, #Elevation and #Temasek and look forward to the #Peak XV team. With this fundraise, SarvaGram is on track to continue its impressive growth trajectory and we are excited to be part of this journey of SarvaGram driving meaningful change for rural middle-class households. Utpal Isser SarvaGram Sreeraman V TVS Capital Funds #FundingSuccess #RuralIndia

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Some wrong Practices in SIPs by Investors * Stopping SIPs During Market Corrections Many investors panic when markets dip and stop their SIPs, missing out on the benefits of rupee-cost averaging and buying more units at lower prices. Overreacting to market news or personal financial pressures often disrupts the discipline and consistency required for successful SIPs. * Investing Without Clear Goals Investors often start SIPs without a clear financial goal. This lack of direction can lead to early withdrawals or insufficient corpus at maturity. * Choosing SIPs Solely Based on Past Returns Relying only on historical returns without evaluating the fund's consistency, portfolio quality, or market conditions often results in suboptimal investments. * Not Aligning Risk Appetite with Fund Type Investors sometimes invest in high-risk funds without understanding their own risk tolerance, leading to regret and hasty decisions during volatility. * Treating SIP as a Short-Term Tool SIPs are designed for long-term wealth creation, but some investors expect quick returns and withdraw prematurely. * Inconsistent SIP Amounts Starting with a low SIP amount and failing to increase contributions with income growth limits the wealth-building potential. Many investors don’t account for inflation while setting SIP amounts, leading to a future corpus that falls short of their needs. * Not Having Emergency Funds Before SIPs Investors sometimes start SIPs without an emergency fund, leading to withdrawals or SIP discontinuation during financial emergencies. Conclusion Avoiding these common mistakes can ensure that your SIP investments remain a powerful tool for long-term wealth creation. Discipline, periodic reviews, and goal alignment are key to maximizing SIP benefits. Do subscribe to Capstone Wealth for articles related to investment planning ....Happy Investing www.capstonewealth.in

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